SPGM vs. HDGE ETF Comparison

Comparison of SPDR Portfolio MSCI Global Stock Market ETF (SPGM) to Ranger Equity Bear Bear ETF (HDGE)

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

SPGM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the combined equity market performance of developed and emerging markets.

Grade (RS Rating)

Last Trade

$63.97

Average Daily Volume

55,379

Number of Holdings ^*

1000

* may have additional holdings in another (foreign) market

HDGE

Ranger Equity Bear Bear ETF

HDGE Description

The investment seeks capital appreciation through short sales of domestically traded equity securities. The Sub-Advisor seeks to achieve the fund's investment objective by short selling a portfolio of liquid mid- and large-cap U.S. exchange-traded equity securities, ETFs registered pursuant to the 1940 Act, ETNs and other ETPs. The Sub-Advisor implements a bottom-up, fundamental, research driven security selection process that seeks to identify securities with low earnings quality or aggressive accounting that may tend to mask operational deterioration and bolster the reported earnings per share over a short time period.

Grade (RS Rating)

Last Trade

$18.84

Average Daily Volume

102,253

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	SPGM	HDGE
30 Days	2.55%	-1.54%
60 Days	4.08%	-2.89%
90 Days	5.39%	-10.96%
12 Months	26.14%	-8.67%

32 Overlapping Holdings

Symbol	Grade	Weight in SPGM	Weight in HDGE	Overlap
ALB	D	0.01%	-1.23%	-1.23%
ASAN	F	0.0%	-1.01%	-1.01%
BRZE	F	0.0%	-1.02%	-1.02%
CAR	F	0.0%	-0.77%	-0.77%
CFLT	F	0.0%	-1.32%	-1.32%
COIN	F	0.03%	-1.14%	-1.14%
CVS	D	0.14%	-1.73%	-1.73%
DDOG	D	0.02%	-1.21%	-1.21%
DEO	C	0.07%	-1.11%	-1.11%
DKNG	C	0.02%	-1.66%	-1.66%
ELF	F	0.0%	-0.77%	-0.77%
ETSY	F	0.0%	-1.22%	-1.22%
FLYW	F	0.0%	-1.09%	-1.09%
GLBE	C	0.0%	-1.17%	-1.17%
JKS	D	0.01%	-1.19%	-1.19%
KSS	F	0.01%	-1.76%	-1.76%
LVS	D	0.03%	-1.45%	-1.45%
MARA	F	0.01%	-0.97%	-0.97%
NCNO	D	0.0%	-1.17%	-1.17%
NET	D	0.03%	-1.45%	-1.45%
ON	D	0.01%	-1.3%	-1.3%
PENN	D	0.0%	-1.09%	-1.09%
PLAB	F	0.0%	-0.99%	-0.99%
RIOT	F	0.0%	-1.06%	-1.06%
ROKU	C	0.01%	-1.3%	-1.3%
S	C	0.0%	-1.08%	-1.08%
SABR	D	0.0%	-1.29%	-1.29%
TEAM	D	0.02%	-2.05%	-2.05%
VRT	C	0.05%	-1.52%	-1.52%
WDC	D	0.07%	-1.17%	-1.17%
WFC	D	0.33%	-1.32%	-1.32%
ZS	F	0.02%	-1.0%	-1.0%

SPGM Overweight 968 Positions Relative to HDGE

Symbol	Grade	Weight
AAPL	C	3.84%
MSFT	C	3.54%
NVDA	D	3.42%
AMZN	C	2.01%
META	B	1.37%
GOOG	D	1.0%
GOOGL	D	1.0%
TSM	C	0.94%
LLY	C	0.89%
AVGO	C	0.86%
JPM	D	0.83%
TSLA	C	0.74%
BRK.A	C	0.73%
UNH	C	0.7%
V	C	0.66%
XOM	C	0.65%
COST	B	0.58%
HD	B	0.54%
PG	C	0.52%
TMO	B	0.47%
BAC	D	0.46%
ABBV	C	0.44%
JNJ	C	0.43%
MA	B	0.42%
WMT	C	0.4%
ADBE	F	0.4%
TXN	C	0.39%
MRK	D	0.39%
CRM	D	0.39%
ORCL	C	0.38%
INTU	C	0.37%
TJX	B	0.36%
ABT	C	0.36%
KO	C	0.35%
LIN	B	0.35%
DHR	B	0.35%
RTX	C	0.34%
AXP	B	0.33%
CSCO	C	0.32%
NFLX	B	0.32%
CVX	D	0.31%
GS	C	0.31%
PEP	C	0.3%
QCOM	D	0.29%
ACN	C	0.29%
IBM	B	0.29%
LOW	B	0.29%
UNP	C	0.28%
NEE	C	0.28%
AMD	D	0.27%
TM	F	0.27%
AMAT	D	0.27%
PLD	C	0.27%
CAT	B	0.27%
CB	B	0.27%
LMT	C	0.27%
AFL	C	0.26%
PSA	B	0.25%
BKNG	C	0.25%
MDT	C	0.25%
SPGI	B	0.25%
AMGN	B	0.25%
NVS	C	0.25%
MS	D	0.24%
DIS	D	0.24%
ELV	C	0.24%
GD	B	0.24%
A	C	0.23%
C	C	0.23%
MCD	B	0.23%
PFE	C	0.22%
CMI	C	0.22%
WM	D	0.22%
SONY	C	0.22%
ADP	B	0.22%
SBUX	C	0.21%
ORLY	C	0.21%
T	C	0.21%
PM	C	0.21%
MCK	F	0.21%
NKE	D	0.2%
TRV	C	0.2%
SYK	C	0.2%
HON	D	0.2%
AMT	C	0.2%
ETN	C	0.2%
MMC	C	0.19%
DE	B	0.19%
ABBV	C	0.19%
CSX	D	0.19%
MET	B	0.19%
BABA	B	0.19%
UL	C	0.19%
ROST	C	0.19%
BDX	D	0.18%
BK	B	0.18%
IBN	B	0.18%
INFY	C	0.18%
GILD	B	0.18%
NOC	B	0.18%
FDX	C	0.18%
ADI	C	0.18%
CMCSA	D	0.17%
NSC	C	0.17%
EMR	D	0.17%
ISRG	B	0.17%
MPC	F	0.17%
PGR	B	0.17%
TT	B	0.17%
COP	D	0.17%
AEP	C	0.17%
ALL	B	0.16%
JCI	B	0.16%
TEL	D	0.16%
ECL	B	0.15%
EOG	D	0.15%
PRU	C	0.15%
PH	B	0.15%
VZ	B	0.15%
PNC	B	0.15%
MUFG	D	0.15%
CL	D	0.15%
DFS	B	0.15%
RDY	D	0.14%
GLW	C	0.14%
SPG	B	0.14%
HSY	C	0.14%
GE	B	0.14%
PEG	B	0.14%
BSX	B	0.14%
NOW	B	0.14%
REGN	C	0.14%
SCHW	D	0.14%
CNI	D	0.14%
PYPL	B	0.13%
BMY	C	0.13%
KEYS	C	0.13%
CLX	C	0.13%
UBER	C	0.13%
TD	B	0.13%
SYY	D	0.13%
ITW	C	0.13%
CTSH	C	0.13%
USB	B	0.12%
INTC	F	0.12%
COF	B	0.12%
IR	C	0.12%
FAST	C	0.12%
KMB	D	0.12%
MKC	C	0.12%
EIX	C	0.12%
TGT	C	0.12%
EBAY	B	0.11%
HPQ	D	0.11%
ROIC	B	0.11%
CEG	C	0.11%
HES	F	0.11%
DUK	C	0.11%
MMM	B	0.11%
MTB	B	0.11%
UPS	D	0.11%
MELI	B	0.11%
VLO	F	0.11%
BA	F	0.11%
YUM	D	0.11%
UMH	C	0.1%
NTAP	D	0.1%
SHOP	C	0.1%
PANW	D	0.1%
AZN	D	0.1%
CMG	C	0.1%
ZTS	C	0.1%
CHT	B	0.09%
BIIB	F	0.09%
CI	C	0.09%
MO	C	0.09%
CHTR	D	0.09%
ADM	D	0.09%
CME	C	0.09%
SMFG	D	0.08%
SO	B	0.08%
GM	C	0.08%
VRTX	D	0.08%
UMC	C	0.08%
SJM	C	0.08%
LYB	D	0.08%
DD	B	0.08%
BLK	B	0.08%
TSN	C	0.08%
PPL	C	0.08%
CHRW	B	0.08%
MU	F	0.07%
HDB	C	0.07%
JNPR	B	0.07%
MRO	C	0.07%
EXC	C	0.07%
CRWD	D	0.07%
K	B	0.07%
PDD	F	0.07%
SLB	F	0.07%
LRCX	F	0.07%
VALE	D	0.07%
WMB	B	0.07%
STX	C	0.07%
F	F	0.07%
DOW	D	0.07%
STT	A	0.07%
PLTR	B	0.07%
NXRT	C	0.07%
CHD	D	0.07%
APD	B	0.07%
AON	B	0.07%
CTVA	B	0.07%
VGR	B	0.07%
FE	C	0.07%
LYG	B	0.06%
ITUB	C	0.06%
HPE	D	0.06%
MFG	D	0.06%
TCOM	C	0.06%
BCS	B	0.06%
TMUS	C	0.06%
PKX	D	0.06%
WIT	C	0.06%
FTV	C	0.06%
EL	F	0.06%
GIS	B	0.06%
CARR	B	0.06%
MDLZ	B	0.06%
DEA	B	0.06%
ANET	B	0.06%
BAX	C	0.06%
CDNS	D	0.06%
EQR	B	0.06%
NMR	D	0.05%
EQIX	C	0.05%
MRVL	C	0.05%
TTD	B	0.05%
BEN	F	0.05%
HAL	F	0.05%
FOXA	B	0.05%
GOOD	B	0.05%
VLTO	C	0.05%
OXY	F	0.05%
DOC	C	0.05%
BX	B	0.05%
KLAC	D	0.05%
PSX	F	0.05%
CAG	C	0.05%
STLA	F	0.05%
E	C	0.05%
LNTH	D	0.04%
LW	D	0.04%
KVUE	C	0.04%
KB	D	0.04%
TMDX	C	0.04%
AXON	B	0.04%
ALLE	B	0.04%
OTIS	C	0.04%
ABNB	D	0.04%
FCX	D	0.04%
SNPS	D	0.04%
DLTR	F	0.04%
NEM	B	0.04%
SYF	C	0.04%
GEV	B	0.04%
MOD	A	0.04%
SQ	D	0.03%
TAC	B	0.03%
RCL	B	0.03%
HOV	C	0.03%
IFF	B	0.03%
KMI	B	0.03%
AA	D	0.03%
AXNX	B	0.03%
TBBK	B	0.03%
DASH	C	0.03%
BIDU	D	0.03%
NU	B	0.03%
HCA	B	0.03%
YUMC	D	0.03%
MRNA	F	0.03%
BRSP	D	0.03%
HMC	D	0.03%
SNOW	F	0.03%
LNW	B	0.03%
PBR	D	0.03%
LDOS	B	0.03%
SE	B	0.03%
MPWR	C	0.03%
SHW	B	0.03%
TPR	C	0.03%
BBD	C	0.03%
DX	B	0.03%
DVN	F	0.02%
INSP	C	0.02%
TEVA	C	0.02%
ICE	C	0.02%
TDG	B	0.02%
DXCM	F	0.02%
ACEL	C	0.02%
HUBS	D	0.02%
GGB	D	0.02%
AZEK	C	0.02%
PARA	F	0.02%
TTGT	F	0.02%
LULU	D	0.02%
WBD	D	0.02%
ZM	C	0.02%
VEEV	C	0.02%
DYN	D	0.02%
RBLX	B	0.02%
SKY	B	0.02%
MCO	B	0.02%
AIV	B	0.02%
CHCT	F	0.02%
URI	B	0.02%
CVNA	B	0.02%
LI	D	0.02%
MOS	F	0.02%
CFG	C	0.02%
DELL	D	0.02%
CF	C	0.02%
MSTR	D	0.02%
CHX	F	0.02%
ADMA	B	0.02%
FSLR	C	0.02%
HIMS	D	0.02%
QTWO	B	0.02%
ABEV	D	0.02%
MT	D	0.02%
AHH	B	0.02%
APP	C	0.02%
BABA	B	0.02%
WTTR	D	0.02%
FICO	B	0.02%
BKR	C	0.02%
GOLD	C	0.02%
MDB	D	0.02%
IIPR	B	0.02%
FTI	D	0.02%
ITCI	D	0.02%
GEHC	C	0.02%
FTNT	C	0.02%
SMCI	F	0.02%
SHG	C	0.02%
WDAY	D	0.02%
LEGH	B	0.01%
SQM	D	0.01%
NRIX	C	0.01%
DT	C	0.01%
ELAN	D	0.01%
VMEO	C	0.01%
NEO	C	0.01%
REG	C	0.01%
PHAT	C	0.01%
M	F	0.01%
AUPH	C	0.01%
WSR	D	0.01%
FLNC	C	0.01%
JBI	F	0.01%
NPAB	D	0.01%
CMPR	D	0.01%
CCO	C	0.01%
EXPI	C	0.01%
CCB	B	0.01%
NOVA	C	0.01%
LASR	F	0.01%
ITRI	C	0.01%
CHPT	F	0.01%
NR	D	0.01%
PNR	B	0.01%
RLAY	D	0.01%
PACB	D	0.01%
KYMR	C	0.01%
GNRC	D	0.01%
QS	F	0.01%
KOP	F	0.01%
IDXX	C	0.01%
DXC	C	0.01%
FATE	F	0.01%
BOOT	A	0.01%
DOCS	B	0.01%
EDIT	F	0.01%
W	D	0.01%
VKTX	C	0.01%
BLFS	C	0.01%
PACK	D	0.01%
OPEN	D	0.01%
ASPN	D	0.01%
NOV	F	0.01%
LIND	C	0.01%
CENX	D	0.01%
DQ	D	0.01%
GTLB	D	0.01%
PTEN	F	0.01%
UPST	C	0.01%
OGN	D	0.01%
SMAR	C	0.01%
FUTU	D	0.01%
LUMN	C	0.01%
FRO	D	0.01%
VERV	F	0.01%
FBK	B	0.01%
AMSC	D	0.01%
DLR	B	0.01%
U	D	0.01%
KD	D	0.01%
RLX	F	0.01%
XPO	D	0.01%
TGI	F	0.01%
MCB	C	0.01%
BCRX	C	0.01%
PCH	C	0.01%
IMVT	D	0.01%
EVH	C	0.01%
LCID	C	0.01%
BBWI	F	0.01%
SLP	F	0.01%
CLSK	F	0.01%
PTCT	C	0.01%
PHI	D	0.01%
OMI	D	0.01%
ULH	C	0.01%
YETI	D	0.01%
ALEX	B	0.01%
AUR	B	0.01%
BLBD	D	0.01%
MGNI	D	0.01%
ALGN	D	0.01%
PAY	D	0.01%
OSW	C	0.01%
NXPI	F	0.01%
LBRDK	F	0.01%
CZR	C	0.01%
CLNE	C	0.01%
PTON	C	0.01%
LWLG	F	0.01%
PEN	D	0.01%
AAON	B	0.01%
CASH	B	0.01%
DOCU	C	0.01%
CYH	B	0.01%
CELH	F	0.01%
RUN	C	0.01%
RKLB	C	0.01%
MCRI	C	0.01%
LOB	B	0.01%
Z	B	0.01%
TTI	F	0.01%
BGNE	C	0.01%
MDGL	F	0.01%
AGNC	B	0.01%
FOUR	C	0.01%
RVLV	B	0.01%
PNTG	B	0.01%
PRTA	F	0.01%
TWLO	D	0.01%
SEMR	D	0.01%
EFC	B	0.01%
RNA	C	0.01%
COLL	C	0.01%
EXPE	C	0.01%
IDYA	F	0.01%
SOFI	C	0.01%
GSAT	F	0.01%
RCUS	C	0.01%
INMD	D	0.01%
SRPT	D	0.01%
ADSK	C	0.01%
BZH	B	0.01%
SQ	D	0.01%
ALNY	C	0.01%
HASI	C	0.01%
TREX	D	0.01%
RDNT	B	0.01%
INTA	A	0.01%
VSTO	C	0.01%
MNDY	B	0.01%
TME	F	0.01%
MRC	D	0.01%
CROX	D	0.01%
XPEV	C	0.01%
AES	C	0.01%
DH	D	0.01%
BHF	F	0.01%
GME	F	0.01%
POWL	C	0.01%
GMS	D	0.01%
BEKE	D	0.01%
SID	D	0.01%
PHR	D	0.01%
TDOC	D	0.01%
CLDT	D	0.01%
THR	D	0.01%
CPRX	A	0.01%
NBR	F	0.01%
OKTA	F	0.01%
RDFN	C	0.01%
MBIN	D	0.01%
SCCO	D	0.01%
ENS	D	0.01%
CLBT	B	0.01%
HSTM	C	0.01%
EXAS	C	0.01%
AKO.A	D	0.01%
AKRO	C	0.01%
SNAP	F	0.01%
TWST	D	0.01%
DDD	F	0.01%
CCS	B	0.01%
PBF	F	0.01%
TOST	C	0.01%
APA	F	0.01%
SDGR	D	0.01%
VNT	F	0.01%
FLNG	C	0.01%
CLDX	C	0.01%
ARWR	F	0.01%
FIS	B	0.01%
TAL	F	0.01%
ZETA	C	0.01%
EPAM	F	0.01%
MATX	B	0.01%
DVAX	D	0.01%
ABR	B	0.01%
VERX	D	0.01%
ERJ	C	0.01%
TREE	C	0.01%
KEX	C	0.01%
GERN	D	0.01%
CNH	D	0.01%
NWSA	D	0.01%
MHO	B	0.01%
ILMN	C	0.01%
PLAY	F	0.01%
ORA	C	0.01%
VIPS	D	0.01%
VTRS	D	0.01%
IMXI	D	0.01%
KOS	F	0.01%
APH	D	0.01%
TGTX	C	0.01%
COMP	C	0.01%
RYTM	B	0.01%
NIO	C	0.01%
MTDR	F	0.01%
AFRM	C	0.01%
EPRT	B	0.01%
PLMR	C	0.01%
CCL	C	0.01%
RIVN	F	0.01%
ENPH	D	0.01%
BLDR	C	0.01%
BBIO	D	0.01%
ALLY	F	0.01%
GMRE	C	0.01%
OII	D	0.01%
AGYS	D	0.01%
SOLV	C	0.01%
WBA	F	0.01%
NUE	F	0.01%
PINS	F	0.01%
GRBK	B	0.01%
KRYS	D	0.0%
XPEV	C	0.0%
LI	D	0.0%
SMWB	C	0.0%
MP	D	0.0%
SCLX	F	0.0%
AGL	F	0.0%
OEC	F	0.0%
JOBY	F	0.0%
JAMF	D	0.0%
BMBL	F	0.0%
FLWS	F	0.0%
CRCT	C	0.0%
TH	D	0.0%
MLCO	D	0.0%
WOLF	F	0.0%
DAN	F	0.0%
SPRY	C	0.0%
DENN	D	0.0%
ZEUS	F	0.0%
CGEM	D	0.0%
BOC	D	0.0%
TPB	B	0.0%
OVV	F	0.0%
KE	F	0.0%
SNCY	D	0.0%
ASTH	B	0.0%
FNA	F	0.0%
SHEN	F	0.0%
LGIH	C	0.0%
LSCC	D	0.0%
KRNT	B	0.0%
PKST	C	0.0%
HDSN	D	0.0%
MLNK	C	0.0%
PRVA	F	0.0%
TMCI	F	0.0%
MXL	F	0.0%
FIGS	F	0.0%
EYE	F	0.0%
OLO	D	0.0%
MNSO	D	0.0%
PUMP	D	0.0%
PDFS	F	0.0%
FLGT	D	0.0%
SAGE	F	0.0%
FSBC	B	0.0%
SEDG	F	0.0%
OLPX	C	0.0%
CRSR	F	0.0%
CEVA	C	0.0%
REPL	C	0.0%
MGPI	D	0.0%
VIR	F	0.0%
ORLA	C	0.0%
CTKB	F	0.0%
APTV	D	0.0%
PFC	C	0.0%
BVN	F	0.0%
CHRD	F	0.0%
DJT	F	0.0%
PARR	F	0.0%
KRUS	C	0.0%
LYEL	D	0.0%
GRPN	F	0.0%
MRVI	D	0.0%
RENB	F	0.0%
HAE	F	0.0%
HOG	C	0.0%
GDS	B	0.0%
IRTC	F	0.0%
ICHR	F	0.0%
ZUO	F	0.0%
LPRO	D	0.0%
NABL	D	0.0%
ATEC	F	0.0%
SWBI	F	0.0%
CNDT	C	0.0%
GOGO	F	0.0%
ELVN	D	0.0%
QFIN	B	0.0%
RGNX	F	0.0%
MAX	C	0.0%
MDXG	F	0.0%
APPN	D	0.0%
MAT	C	0.0%
XPOF	D	0.0%
RIG	F	0.0%
CECO	D	0.0%
BROS	D	0.0%
IBP	D	0.0%
HE	F	0.0%
ETNB	F	0.0%
SAVA	C	0.0%
HUMA	D	0.0%
CEIX	D	0.0%
MBAVU	C	0.0%
CXM	F	0.0%
SGRY	C	0.0%
DNOW	D	0.0%
ITOS	F	0.0%
XHR	B	0.0%
PDFS	F	0.0%
ULCC	D	0.0%
COTY	F	0.0%
THO	D	0.0%
OLMA	D	0.0%
LAND	C	0.0%
SVC	D	0.0%
SM	F	0.0%
HURN	C	0.0%
THRM	D	0.0%
ATEN	C	0.0%
QTRX	D	0.0%
NEXT	F	0.0%
PRO	F	0.0%
NMIH	B	0.0%
LMND	D	0.0%
CALX	D	0.0%
CUBI	F	0.0%
PUBM	F	0.0%
LESL	F	0.0%
TLRY	F	0.0%
ESTA	D	0.0%
IDT	C	0.0%
DBI	F	0.0%
DGII	D	0.0%
SHC	C	0.0%
ENIC	D	0.0%
NARI	F	0.0%
VNET	C	0.0%
CLF	F	0.0%
GKOS	C	0.0%
UCTT	F	0.0%
AOSL	D	0.0%
LILAK	D	0.0%
ADUS	B	0.0%
APLS	F	0.0%
UVV	D	0.0%
ATRO	D	0.0%
TASK	F	0.0%
HRI	D	0.0%
KRNY	C	0.0%
SHLS	D	0.0%
AMRC	C	0.0%
HAYN	D	0.0%
RXST	C	0.0%
MERC	F	0.0%
MNTK	D	0.0%
CHEF	D	0.0%
SITM	B	0.0%
GH	D	0.0%
HAYW	C	0.0%
MQ	F	0.0%
STAA	F	0.0%
XPRO	F	0.0%
FVRR	C	0.0%
ALHC	C	0.0%
TITN	F	0.0%
ARLO	F	0.0%
VSCO	C	0.0%
FIVN	F	0.0%
EB	F	0.0%
METC	F	0.0%
SOUN	D	0.0%
NNDM	F	0.0%
RRC	D	0.0%
VCYT	B	0.0%
IOVA	C	0.0%
HTHT	D	0.0%
YOU	C	0.0%
YMAB	C	0.0%
ENVA	C	0.0%
FIZZ	D	0.0%
FSLY	D	0.0%
SKE	C	0.0%
EGBN	C	0.0%
SIBN	D	0.0%
ORIC	D	0.0%
AR	F	0.0%
HL	C	0.0%
ATHM	C	0.0%
IAS	D	0.0%
SMR	D	0.0%
NEOG	D	0.0%
NVRI	D	0.0%
BHB	A	0.0%
EYPT	D	0.0%
FRSH	F	0.0%
WGO	D	0.0%
DHI	B	0.0%
ZI	D	0.0%
OSPN	B	0.0%
CYRX	D	0.0%
BIGC	F	0.0%
ARDX	D	0.0%
MTW	F	0.0%
YY	C	0.0%
VZIO	B	0.0%
ARQT	C	0.0%
GRAB	C	0.0%
INDI	F	0.0%
BRBR	C	0.0%
CYTK	F	0.0%
AMRK	C	0.0%
GNK	D	0.0%
IIIV	D	0.0%
BXC	D	0.0%
EMBC	C	0.0%
ADNT	F	0.0%
ARRY	F	0.0%
CDMO	B	0.0%
NVCR	D	0.0%
ATUS	C	0.0%
UEC	D	0.0%
AX	D	0.0%
LMB	B	0.0%
NX	F	0.0%
RVMD	C	0.0%
BEAM	F	0.0%
AVNS	B	0.0%
SQSP	A	0.0%
UNIT	C	0.0%
FC	D	0.0%
GXO	D	0.0%
DIN	F	0.0%
JANX	C	0.0%
SIGA	D	0.0%
FROG	F	0.0%
WRBY	D	0.0%
TUYA	D	0.0%
NTRA	C	0.0%
DUOL	B	0.0%
LXRX	F	0.0%
APPF	D	0.0%
MOMO	D	0.0%
EWCZ	F	0.0%
CDNA	C	0.0%
LEU	D	0.0%
GDOT	C	0.0%
KC	F	0.0%
ALT	D	0.0%
CNC	D	0.0%
PODD	B	0.0%
DHC	B	0.0%
FDMT	F	0.0%
IAG	C	0.0%
WOOF	C	0.0%
INN	A	0.0%
STOK	C	0.0%
QNST	B	0.0%
TRUP	C	0.0%
CCBG	B	0.0%
YEXT	C	0.0%
PL	F	0.0%
LSPD	D	0.0%
AMC	F	0.0%
PCVX	C	0.0%
IQ	F	0.0%
SNDX	F	0.0%
UPWK	D	0.0%
ESTC	F	0.0%
CRMT	F	0.0%
WULF	D	0.0%
DFH	C	0.0%
MEG	F	0.0%
RKT	C	0.0%
REZI	D	0.0%
VVI	D	0.0%
RNG	F	0.0%
NTLA	F	0.0%
TIGR	F	0.0%
LYFT	D	0.0%
ATKR	F	0.0%
XMTR	D	0.0%
AXSM	C	0.0%
HST	C	0.0%
PLPC	D	0.0%
KIM	C	0.0%
BURL	B	0.0%
NCLH	C	0.0%
SAM	F	0.0%
ENFN	D	0.0%
RVNC	D	0.0%
TNDM	C	0.0%
TTWO	C	0.0%
TELL	C	0.0%
ACHR	F	0.0%
CIFR	F	0.0%
SPT	F	0.0%
INSW	D	0.0%
TRNS	D	0.0%
RXRX	F	0.0%
PCG	C	0.0%
VRNS	C	0.0%
MTCH	C	0.0%
NUVL	C	0.0%
KHC	C	0.0%
AMPS	F	0.0%
CASS	C	0.0%
DCO	A	0.0%
IBUY	B	0.0%
PCT	C	0.0%
NSSC	F	0.0%
ERAS	C	0.0%
PFSI	C	0.0%
CLOV	C	0.0%
UWMC	D	0.0%
EQT	D	0.0%
ANF	D	0.0%
VPG	F	0.0%
GDRX	F	0.0%
PAR	B	0.0%
HUYA	D	0.0%
BILI	C	0.0%
BLND	C	0.0%
REPX	D	0.0%
ARCT	F	0.0%
FUBO	D	0.0%
SITE	C	0.0%
CC	F	0.0%
RLJ	D	0.0%
CERT	F	0.0%
HEES	D	0.0%
PRG	B	0.0%
TXG	D	0.0%
CSTL	C	0.0%
IIIN	D	0.0%
ARVN	F	0.0%
APLD	C	0.0%
ACVA	B	0.0%
VRDN	C	0.0%
HSII	C	0.0%
CTLP	D	0.0%
PGC	C	0.0%
BJRI	D	0.0%
MNMD	F	0.0%
KLG	C	0.0%
BZ	F	0.0%
LC	D	0.0%
OSCR	B	0.0%
SANA	F	0.0%
DOCN	A	0.0%
HCP	B	0.0%
BYND	D	0.0%
RPAY	F	0.0%
WEAV	C	0.0%
RAMP	F	0.0%
CHGX	B	0.0%
CIG	B	0.0%
NVT	D	0.0%
ACLS	F	0.0%
AMR	F	0.0%
VITL	D	0.0%
SPR	D	0.0%
EXTR	C	0.0%
AMG	C	0.0%
KEP	C	0.0%
CSGP	D	0.0%
WIX	D	0.0%
NUVB	D	0.0%
PLUG	F	0.0%
PATH	D	0.0%
RCKT	D	0.0%
NVAX	D	0.0%
SONO	D	0.0%
PRCT	C	0.0%
PTGX	C	0.0%
AI	F	0.0%
WRLD	D	0.0%
RGEN	F	0.0%
DRH	C	0.0%
ZLAB	C	0.0%
BASE	F	0.0%
CIB	D	0.0%
ALEC	C	0.0%
ROCK	D	0.0%
CARS	D	0.0%
EVRI	C	0.0%
PETQ	B	0.0%
DMRC	F	0.0%
EA	D	0.0%
LAZR	F	0.0%
BE	F	0.0%
USLM	B	0.0%
CDE	C	0.0%
VICR	D	0.0%
ALKT	D	0.0%
MITK	F	0.0%
ENVX	F	0.0%
ODFL	D	0.0%
AAOI	C	0.0%
GATO	C	0.0%
GPN	D	0.0%
ACMR	F	0.0%
BTU	D	0.0%
BILL	D	0.0%
JELD	D	0.0%
PIXY	F	0.0%
KREF	B	0.0%
ALLO	D	0.0%
SRRK	F	0.0%
GDYN	C	0.0%
COHR	C	0.0%

SPGM Underweight 39 Positions Relative to HDGE

Symbol	Grade	Weight
LKQ	F	--0.96%
HTZ	F	--0.97%
ANSS	D	--0.98%
VLY	C	--1.0%
NGVT	D	--1.03%
CFR	C	--1.04%
DAR	F	--1.06%
MTRN	F	--1.07%
ENR	D	--1.07%
TPX	C	--1.08%
CWH	C	--1.08%
HGV	F	--1.09%
JACK	F	--1.11%
GO	F	--1.12%
MRTN	D	--1.15%
XRX	D	--1.17%
WEX	C	--1.18%
HUM	F	--1.21%
PTC	D	--1.25%
CNXC	F	--1.27%
PCOR	F	--1.29%
PI	B	--1.33%
AAL	D	--1.33%
IRDM	D	--1.34%
LOGI	D	--1.35%
SNA	C	--1.36%
FR	B	--1.37%
ODP	F	--1.38%
CMA	B	--1.39%
INFA	D	--1.41%
CACC	F	--1.45%
MCW	F	--1.48%
WK	D	--1.66%
NTST	D	--1.69%
MAR	C	--1.82%
OZK	D	--1.95%
SIG	C	--2.02%
WSM	D	--2.15%
PAYC	D	--2.49%