SPGM vs. QARP ETF Comparison

Comparison of SPDR Portfolio MSCI Global Stock Market ETF (SPGM) to Xtrackers Russell 1000 US QARP ETF (QARP)

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

$63.79

Average Daily Volume

55,686

Number of Holdings ^*

1000

* may have additional holdings in another (foreign) market

QARP

Xtrackers Russell 1000 US QARP ETF

QARP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the "underlying index"). The fund will invest at least 80% of its total assets (but typically far more) in component securities of the underlying index. The underlying index is designed to track the equity market performance of companies in the United States selected on the investment style criteria ("factors") of quality and value. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$51.66

Average Daily Volume

19,348

Number of Holdings ^*

344

* may have additional holdings in another (foreign) market

Performance

Period	SPGM	QARP
30 Days	1.64%	1.93%
60 Days	2.77%	3.39%
90 Days	5.09%	5.27%
12 Months	27.89%	25.77%

174 Overlapping Holdings

Symbol	Grade	Weight in SPGM	Weight in QARP	Overlap
A	C	0.23%	0.1%	0.1%
AAPL	C	3.84%	5.0%	3.84%
ABBV	C	0.44%	0.02%	0.02%
ABBV	C	0.19%	0.02%	0.02%
ABNB	D	0.04%	0.21%	0.04%
ABT	C	0.36%	0.23%	0.23%
ACN	C	0.29%	1.2%	0.29%
ADBE	F	0.4%	1.05%	0.4%
ADI	C	0.18%	0.09%	0.09%
ADM	D	0.09%	0.32%	0.09%
ADP	B	0.22%	0.21%	0.21%
ADSK	C	0.01%	0.06%	0.01%
ALB	F	0.01%	0.02%	0.01%
ALGN	D	0.01%	0.05%	0.01%
AMAT	D	0.27%	0.78%	0.27%
AMD	D	0.27%	0.08%	0.08%
AMG	C	0.0%	0.09%	0.0%
AMGN	B	0.25%	0.03%	0.03%
AMZN	C	2.01%	3.6%	2.01%
ANET	A	0.06%	0.11%	0.06%
AON	B	0.07%	0.33%	0.07%
APA	F	0.01%	0.02%	0.01%
APTV	D	0.0%	0.06%	0.0%
AR	D	0.0%	0.02%	0.0%
BBWI	F	0.01%	0.02%	0.01%
BIIB	F	0.09%	0.02%	0.02%
BKNG	B	0.25%	0.65%	0.25%
BKR	C	0.02%	0.08%	0.02%
BLDR	C	0.01%	0.17%	0.01%
BMY	C	0.13%	0.55%	0.13%
BRK.A	C	0.73%	5.43%	0.73%
BURL	C	0.0%	0.04%	0.0%
BX	B	0.05%	0.05%	0.05%
CAT	B	0.27%	0.61%	0.27%
CCL	C	0.01%	0.03%	0.01%
CDNS	D	0.06%	0.02%	0.02%
CF	C	0.02%	0.12%	0.02%
CHRD	F	0.0%	0.05%	0.0%
CHRW	A	0.08%	0.06%	0.06%
CHTR	D	0.09%	0.12%	0.09%
CI	C	0.09%	0.64%	0.09%
CL	C	0.15%	0.26%	0.15%
CLF	F	0.0%	0.05%	0.0%
CLX	C	0.13%	0.07%	0.07%
CMCSA	D	0.17%	0.82%	0.17%
CMG	C	0.1%	0.1%	0.1%
CMI	C	0.22%	0.23%	0.22%
CNC	C	0.0%	0.3%	0.0%
COF	A	0.12%	0.13%	0.12%
COIN	F	0.03%	0.03%	0.03%
COP	D	0.17%	0.76%	0.17%
COST	B	0.58%	2.39%	0.58%
CROX	D	0.01%	0.03%	0.01%
CSCO	B	0.32%	1.77%	0.32%
CSX	D	0.19%	0.07%	0.07%
CTSH	C	0.13%	0.3%	0.13%
CTVA	B	0.07%	0.02%	0.02%
CVS	F	0.14%	0.2%	0.14%
CVX	D	0.31%	1.39%	0.31%
DD	B	0.08%	0.02%	0.02%
DE	B	0.19%	0.25%	0.19%
DHI	C	0.0%	0.37%	0.0%
DLTR	F	0.04%	0.07%	0.04%
DOW	D	0.07%	0.08%	0.07%
DVN	D	0.02%	0.18%	0.02%
EA	D	0.0%	0.19%	0.0%
EBAY	B	0.11%	0.09%	0.09%
EL	F	0.06%	0.03%	0.03%
ELV	C	0.24%	0.67%	0.24%
EOG	D	0.15%	0.47%	0.15%
EPAM	F	0.01%	0.04%	0.01%
EXPE	C	0.01%	0.13%	0.01%
FAST	C	0.12%	0.19%	0.12%
FCX	D	0.04%	0.04%	0.04%
FDX	F	0.18%	0.34%	0.18%
FICO	B	0.02%	0.06%	0.02%
FOXA	B	0.05%	0.03%	0.03%
FTNT	B	0.02%	0.18%	0.02%
GEHC	C	0.02%	0.15%	0.02%
GEV	B	0.04%	0.13%	0.04%
GILD	B	0.18%	0.31%	0.18%
GIS	B	0.06%	0.11%	0.06%
GM	B	0.08%	0.21%	0.08%
GOOG	D	1.0%	1.92%	1.0%
GOOGL	D	1.0%	2.12%	1.0%
HAL	F	0.05%	0.06%	0.05%
HCA	A	0.03%	0.32%	0.03%
HD	A	0.54%	1.94%	0.54%
HPQ	D	0.11%	0.08%	0.08%
HST	C	0.0%	0.03%	0.0%
HSY	D	0.14%	0.1%	0.1%
INTC	F	0.12%	0.07%	0.07%
ISRG	C	0.17%	0.17%	0.17%
ITW	C	0.13%	0.31%	0.13%
JNJ	C	0.43%	2.71%	0.43%
JNPR	A	0.07%	0.04%	0.04%
K	A	0.07%	0.06%	0.06%
KEYS	C	0.13%	0.12%	0.12%
KLAC	D	0.05%	0.2%	0.05%
KMB	D	0.12%	0.18%	0.12%
KVUE	C	0.04%	0.21%	0.04%
LLY	C	0.89%	0.04%	0.04%
LMT	B	0.27%	0.81%	0.27%
LOW	A	0.29%	0.76%	0.29%
LRCX	F	0.07%	0.46%	0.07%
LULU	D	0.02%	0.14%	0.02%
LVS	D	0.03%	0.04%	0.03%
LYB	F	0.08%	0.11%	0.08%
M	F	0.01%	0.02%	0.01%
MA	B	0.42%	1.57%	0.42%
MCD	B	0.23%	0.41%	0.23%
MCK	F	0.21%	1.01%	0.21%
MCO	A	0.02%	0.35%	0.02%
META	A	1.37%	4.8%	1.37%
MMC	C	0.19%	0.61%	0.19%
MMM	A	0.11%	0.12%	0.11%
MO	C	0.09%	0.65%	0.09%
MOS	F	0.02%	0.04%	0.02%
MPC	D	0.17%	0.28%	0.17%
MRK	D	0.39%	0.4%	0.39%
MRNA	F	0.03%	0.1%	0.03%
MRO	C	0.07%	0.11%	0.07%
MSFT	C	3.54%	2.12%	2.12%
MU	F	0.07%	0.32%	0.07%
NKE	D	0.2%	0.34%	0.2%
NTAP	D	0.1%	0.06%	0.06%
NUE	F	0.01%	0.37%	0.01%
NVDA	D	3.42%	0.14%	0.14%
ODFL	D	0.0%	0.17%	0.0%
ON	F	0.01%	0.05%	0.01%
ORCL	B	0.38%	0.04%	0.04%
ORLY	D	0.21%	0.37%	0.21%
OTIS	C	0.04%	0.04%	0.04%
OVV	F	0.0%	0.03%	0.0%
OXY	F	0.05%	0.06%	0.05%
PFE	C	0.22%	0.59%	0.22%
PG	C	0.52%	1.51%	0.52%
PGR	A	0.17%	0.06%	0.06%
PM	C	0.21%	0.58%	0.21%
PSA	B	0.25%	0.35%	0.25%
PSX	D	0.05%	0.12%	0.05%
PYPL	B	0.13%	0.28%	0.13%
QCOM	F	0.29%	0.27%	0.27%
REGN	C	0.14%	0.4%	0.14%
ROST	C	0.19%	0.29%	0.19%
SBUX	C	0.21%	0.51%	0.21%
SJM	C	0.08%	0.03%	0.03%
SLB	F	0.07%	0.14%	0.07%
SOLV	C	0.01%	0.11%	0.01%
SPG	A	0.14%	0.2%	0.14%
SPGI	A	0.25%	0.08%	0.08%
SYF	C	0.04%	0.1%	0.04%
SYY	D	0.13%	0.37%	0.13%
T	C	0.21%	0.72%	0.21%
TGT	C	0.12%	0.41%	0.12%
THO	D	0.0%	0.03%	0.0%
TJX	C	0.36%	0.85%	0.36%
TPR	C	0.03%	0.09%	0.03%
TSLA	C	0.74%	0.58%	0.58%
TSN	D	0.08%	0.04%	0.04%
TT	A	0.17%	0.07%	0.07%
TXN	C	0.39%	0.38%	0.38%
UNH	C	0.7%	2.48%	0.7%
UNP	C	0.28%	0.14%	0.14%
UPS	F	0.11%	0.42%	0.11%
URI	B	0.02%	0.2%	0.02%
V	C	0.66%	1.81%	0.66%
VLO	F	0.11%	0.18%	0.11%
VRTX	D	0.08%	0.22%	0.08%
VZ	B	0.15%	0.74%	0.15%
WBD	D	0.02%	0.03%	0.02%
WMT	B	0.4%	2.86%	0.4%
XOM	D	0.65%	3.11%	0.65%
YUM	F	0.11%	0.06%	0.06%

SPGM Overweight 826 Positions Relative to QARP

Symbol	Grade	Weight
TSM	C	0.94%
AVGO	C	0.86%
JPM	D	0.83%
TMO	C	0.47%
BAC	D	0.46%
CRM	D	0.39%
INTU	C	0.37%
KO	B	0.35%
LIN	B	0.35%
DHR	C	0.35%
RTX	C	0.34%
WFC	D	0.33%
AXP	B	0.33%
NFLX	B	0.32%
GS	C	0.31%
PEP	D	0.3%
IBM	A	0.29%
NEE	C	0.28%
TM	F	0.27%
PLD	C	0.27%
CB	B	0.27%
AFL	C	0.26%
MDT	C	0.25%
NVS	C	0.25%
MS	C	0.24%
DIS	D	0.24%
GD	B	0.24%
C	D	0.23%
WM	D	0.22%
SONY	C	0.22%
TRV	B	0.2%
SYK	C	0.2%
HON	D	0.2%
AMT	C	0.2%
ETN	C	0.2%
MET	A	0.19%
BABA	B	0.19%
UL	C	0.19%
BDX	F	0.18%
BK	A	0.18%
IBN	A	0.18%
INFY	C	0.18%
NOC	A	0.18%
NSC	C	0.17%
EMR	D	0.17%
AEP	C	0.17%
ALL	B	0.16%
JCI	B	0.16%
TEL	D	0.16%
ECL	A	0.15%
PRU	C	0.15%
PH	A	0.15%
PNC	A	0.15%
MUFG	D	0.15%
DFS	B	0.15%
RDY	D	0.14%
GLW	B	0.14%
GE	A	0.14%
PEG	A	0.14%
BSX	B	0.14%
NOW	A	0.14%
SCHW	D	0.14%
CNI	D	0.14%
UBER	C	0.13%
TD	A	0.13%
USB	B	0.12%
IR	C	0.12%
MKC	C	0.12%
EIX	C	0.12%
ROIC	B	0.11%
CEG	A	0.11%
HES	D	0.11%
DUK	B	0.11%
MTB	A	0.11%
MELI	B	0.11%
BA	F	0.11%
UMH	C	0.1%
SHOP	C	0.1%
PANW	C	0.1%
AZN	D	0.1%
ZTS	C	0.1%
CHT	A	0.09%
CME	C	0.09%
SMFG	D	0.08%
SO	A	0.08%
UMC	C	0.08%
BLK	B	0.08%
PPL	B	0.08%
HDB	B	0.07%
EXC	B	0.07%
WDC	D	0.07%
CRWD	D	0.07%
PDD	F	0.07%
VALE	F	0.07%
WMB	B	0.07%
STX	C	0.07%
F	F	0.07%
STT	B	0.07%
PLTR	A	0.07%
NXRT	C	0.07%
CHD	C	0.07%
DEO	D	0.07%
APD	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%
CARR	B	0.06%
MDLZ	C	0.06%
DEA	B	0.06%
BAX	C	0.06%
EQR	C	0.06%
NMR	D	0.05%
EQIX	B	0.05%
MRVL	C	0.05%
TTD	B	0.05%
BEN	F	0.05%
VRT	C	0.05%
GOOD	B	0.05%
VLTO	B	0.05%
DOC	C	0.05%
CAG	C	0.05%
STLA	F	0.05%
E	C	0.05%
LNTH	D	0.04%
LW	D	0.04%
KB	C	0.04%
TMDX	C	0.04%
AXON	A	0.04%
ALLE	C	0.04%
SNPS	D	0.04%
NEM	B	0.04%
MOD	B	0.04%
SQ	D	0.03%
TAC	B	0.03%
RCL	A	0.03%
HOV	C	0.03%
IFF	C	0.03%
KMI	A	0.03%
AA	D	0.03%
AXNX	A	0.03%
TBBK	B	0.03%
NET	D	0.03%
DASH	B	0.03%
BIDU	F	0.03%
NU	B	0.03%
YUMC	D	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	A	0.03%
MPWR	C	0.03%
SHW	B	0.03%
BBD	D	0.03%
DX	B	0.03%
INSP	C	0.02%
TEVA	D	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%
ZM	C	0.02%
VEEV	C	0.02%
DYN	D	0.02%
ZS	F	0.02%
RBLX	B	0.02%
SKY	C	0.02%
AIV	B	0.02%
CHCT	F	0.02%
CVNA	B	0.02%
LI	D	0.02%
CFG	C	0.02%
DELL	C	0.02%
MSTR	D	0.02%
CHX	D	0.02%
ADMA	B	0.02%
FSLR	C	0.02%
HIMS	D	0.02%
QTWO	B	0.02%
TEAM	D	0.02%
ABEV	D	0.02%
DKNG	C	0.02%
MT	D	0.02%
AHH	C	0.02%
APP	B	0.02%
BABA	B	0.02%
WTTR	C	0.02%
GOLD	B	0.02%
MDB	D	0.02%
IIPR	B	0.02%
FTI	D	0.02%
DDOG	D	0.02%
ITCI	D	0.02%
SMCI	F	0.02%
SHG	C	0.02%
WDAY	D	0.02%
LEGH	C	0.01%
SQM	F	0.01%
NRIX	B	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%
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	C	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%
JKS	D	0.01%
KYMR	B	0.01%
GNRC	D	0.01%
QS	F	0.01%
KOP	F	0.01%
IDXX	D	0.01%
DXC	C	0.01%
FATE	F	0.01%
BOOT	A	0.01%
DOCS	A	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	C	0.01%
NOV	D	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	F	0.01%
VERV	F	0.01%
FBK	C	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	D	0.01%
MCB	C	0.01%
BCRX	C	0.01%
PCH	C	0.01%
IMVT	F	0.01%
EVH	C	0.01%
LCID	D	0.01%
SLP	F	0.01%
CLSK	F	0.01%
PTCT	C	0.01%
PHI	C	0.01%
OMI	D	0.01%
ULH	C	0.01%
YETI	D	0.01%
ALEX	B	0.01%
AUR	C	0.01%
BLBD	C	0.01%
MGNI	D	0.01%
PAY	C	0.01%
OSW	C	0.01%
NXPI	D	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	A	0.01%
CASH	B	0.01%
DOCU	C	0.01%
CYH	B	0.01%
CELH	F	0.01%
RUN	C	0.01%
RKLB	B	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	C	0.01%
SEMR	C	0.01%
MARA	F	0.01%
EFC	C	0.01%
RNA	D	0.01%
COLL	C	0.01%
IDYA	F	0.01%
SOFI	C	0.01%
GSAT	F	0.01%
RCUS	D	0.01%
INMD	D	0.01%
SRPT	D	0.01%
BZH	C	0.01%
SQ	D	0.01%
ALNY	C	0.01%
HASI	C	0.01%
TREX	F	0.01%
RDNT	B	0.01%
INTA	B	0.01%
VSTO	C	0.01%
MNDY	A	0.01%
TME	F	0.01%
MRC	D	0.01%
XPEV	C	0.01%
AES	C	0.01%
DH	F	0.01%
BHF	D	0.01%
GME	D	0.01%
POWL	B	0.01%
GMS	D	0.01%
BEKE	D	0.01%
SID	F	0.01%
PHR	D	0.01%
ROKU	C	0.01%
TDOC	D	0.01%
CLDT	D	0.01%
THR	D	0.01%
CPRX	C	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	D	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	C	0.01%
PBF	F	0.01%
TOST	A	0.01%
SDGR	F	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	B	0.01%
MATX	C	0.01%
DVAX	D	0.01%
ABR	B	0.01%
VERX	C	0.01%
ERJ	C	0.01%
TREE	B	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	F	0.01%
VTRS	D	0.01%
IMXI	D	0.01%
KOS	F	0.01%
APH	C	0.01%
TGTX	C	0.01%
COMP	C	0.01%
RYTM	C	0.01%
NIO	D	0.01%
KSS	F	0.01%
MTDR	F	0.01%
AFRM	C	0.01%
EPRT	A	0.01%
PLMR	C	0.01%
RIVN	F	0.01%
ENPH	D	0.01%
BBIO	D	0.01%
ALLY	D	0.01%
GMRE	C	0.01%
OII	D	0.01%
AGYS	D	0.01%
WBA	F	0.01%
PINS	F	0.01%
GRBK	C	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	C	0.0%
TPB	B	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	F	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	D	0.0%
FLGT	F	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%
PFC	D	0.0%
BVN	F	0.0%
DJT	F	0.0%
PARR	F	0.0%
CAR	F	0.0%
KRUS	D	0.0%
LYEL	D	0.0%
GRPN	F	0.0%
MRVI	D	0.0%
RENB	F	0.0%
HAE	D	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	D	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%
NCNO	D	0.0%
MDXG	F	0.0%
APPN	D	0.0%
MAT	C	0.0%
XPOF	F	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	D	0.0%
ULCC	D	0.0%
COTY	F	0.0%
OLMA	D	0.0%
LAND	D	0.0%
SVC	F	0.0%
SM	D	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	C	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	F	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%
GKOS	C	0.0%
UCTT	F	0.0%
AOSL	D	0.0%
LILAK	D	0.0%
SABR	C	0.0%
ADUS	C	0.0%
APLS	F	0.0%
UVV	D	0.0%
ATRO	D	0.0%
TASK	F	0.0%
S	C	0.0%
HRI	C	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%
PENN	C	0.0%
SITM	C	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	D	0.0%
VSCO	C	0.0%
FIVN	F	0.0%
EB	F	0.0%
CFLT	F	0.0%
METC	F	0.0%
SOUN	D	0.0%
NNDM	F	0.0%
RRC	D	0.0%
VCYT	B	0.0%
IOVA	D	0.0%
HTHT	D	0.0%
YOU	B	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	C	0.0%
GLBE	C	0.0%
HL	B	0.0%
ATHM	C	0.0%
IAS	D	0.0%
SMR	D	0.0%
NEOG	D	0.0%
NVRI	D	0.0%
BHB	C	0.0%
EYPT	F	0.0%
FRSH	F	0.0%
WGO	D	0.0%
ZI	D	0.0%
OSPN	B	0.0%
CYRX	F	0.0%
BIGC	F	0.0%
ARDX	D	0.0%
MTW	F	0.0%
YY	C	0.0%
VZIO	A	0.0%
ARQT	C	0.0%
GRAB	B	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	C	0.0%
NVCR	D	0.0%
ATUS	D	0.0%
UEC	D	0.0%
AX	D	0.0%
LMB	A	0.0%
NX	F	0.0%
RVMD	C	0.0%
BEAM	F	0.0%
AVNS	C	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	F	0.0%
NTRA	B	0.0%
DUOL	A	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%
PODD	B	0.0%
DHC	C	0.0%
FDMT	F	0.0%
IAG	B	0.0%
WOOF	C	0.0%
INN	A	0.0%
STOK	D	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	D	0.0%
NTLA	F	0.0%
TIGR	F	0.0%
LYFT	D	0.0%
ATKR	F	0.0%
XMTR	D	0.0%
BRZE	F	0.0%
AXSM	B	0.0%
PLPC	F	0.0%
KIM	C	0.0%
NCLH	C	0.0%
SAM	F	0.0%
ENFN	D	0.0%
RVNC	D	0.0%
TNDM	C	0.0%
TTWO	D	0.0%
ELF	F	0.0%
TELL	C	0.0%
ACHR	F	0.0%
CIFR	F	0.0%
SPT	F	0.0%
INSW	D	0.0%
TRNS	C	0.0%
RXRX	F	0.0%
ETSY	F	0.0%
PCG	B	0.0%
VRNS	C	0.0%
MTCH	C	0.0%
NUVL	C	0.0%
KHC	C	0.0%
AMPS	F	0.0%
CASS	D	0.0%
DCO	B	0.0%
IBUY	B	0.0%
PCT	C	0.0%
NSSC	F	0.0%
ERAS	D	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	C	0.0%
HUYA	D	0.0%
BILI	C	0.0%
BLND	C	0.0%
REPX	D	0.0%
ARCT	F	0.0%
FUBO	F	0.0%
SITE	D	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	B	0.0%
IIIN	F	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	C	0.0%
SANA	F	0.0%
DOCN	B	0.0%
HCP	A	0.0%
BYND	D	0.0%
RPAY	D	0.0%
WEAV	C	0.0%
RAMP	F	0.0%
CHGX	A	0.0%
CIG	C	0.0%
ASAN	F	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%
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	F	0.0%
NVAX	D	0.0%
SONO	D	0.0%
PRCT	B	0.0%
PTGX	B	0.0%
AI	F	0.0%
PLAB	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	D	0.0%
ROCK	D	0.0%
CARS	D	0.0%
EVRI	C	0.0%
PETQ	A	0.0%
FLYW	F	0.0%
DMRC	F	0.0%
RIOT	F	0.0%
LAZR	F	0.0%
BE	F	0.0%
USLM	B	0.0%
CDE	C	0.0%
VICR	F	0.0%
ALKT	D	0.0%
MITK	F	0.0%
ENVX	F	0.0%
AAOI	C	0.0%
GATO	B	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	D	0.0%
GDYN	C	0.0%
COHR	B	0.0%

SPGM Underweight 171 Positions Relative to QARP

Symbol	Grade	Weight
LEN	C	-0.45%
CAH	C	-0.4%
HUM	F	-0.4%
AZO	D	-0.36%
KR	C	-0.28%
ACGL	B	-0.28%
BBY	C	-0.26%
GWW	A	-0.24%
PHM	B	-0.23%
TROW	D	-0.23%
NVR	B	-0.23%
MSCI	C	-0.22%
PCAR	D	-0.21%
STLD	D	-0.2%
FANG	D	-0.19%
PAYX	C	-0.19%
ULTA	D	-0.16%
DAL	C	-0.16%
TSCO	C	-0.16%
WSM	D	-0.16%
RS	D	-0.15%
LPLA	F	-0.14%
GRMN	D	-0.14%
MNST	D	-0.14%
EXPD	C	-0.14%
DRI	B	-0.13%
FCNCA	D	-0.13%
DECK	D	-0.12%
MTG	B	-0.12%
VST	A	-0.12%
EME	A	-0.12%
CASY	D	-0.12%
MAR	C	-0.11%
MTD	D	-0.11%
OC	D	-0.11%
FDS	C	-0.1%
CPNG	A	-0.1%
SWKS	F	-0.1%
UTHR	C	-0.1%
DKS	D	-0.1%
LUV	C	-0.1%
SNA	C	-0.1%
BJ	D	-0.1%
CTRA	D	-0.1%
CBRE	A	-0.09%
CINF	C	-0.09%
ROK	F	-0.09%
EVR	A	-0.09%
HRB	C	-0.09%
CTAS	C	-0.08%
MAS	B	-0.08%
GPC	D	-0.08%
CBOE	C	-0.08%
WST	D	-0.08%
WY	C	-0.08%
VICI	C	-0.08%
GGG	C	-0.07%
LYV	B	-0.07%
SKX	D	-0.07%
MOH	D	-0.07%
DOX	C	-0.07%
AOS	D	-0.07%
WSO	C	-0.07%
TOL	B	-0.07%
PFGC	B	-0.07%
ATO	B	-0.07%
ACI	F	-0.06%
MUSA	D	-0.06%
RNR	B	-0.06%
AGCO	D	-0.06%
INCY	C	-0.06%
UAL	C	-0.06%
UHS	B	-0.06%
EW	F	-0.06%
EG	C	-0.06%
BWA	D	-0.06%
SEIC	C	-0.06%
RHI	D	-0.06%
POOL	D	-0.06%
AYI	A	-0.06%
CPRT	D	-0.06%
VRSN	D	-0.06%
TXT	D	-0.06%
LNG	C	-0.06%
FND	C	-0.05%
PWR	B	-0.05%
LEA	F	-0.05%
PKG	B	-0.05%
RL	B	-0.05%
CSL	B	-0.05%
JBHT	D	-0.05%
HOLX	C	-0.05%
EXP	B	-0.05%
JBL	D	-0.05%
TXRH	C	-0.05%
BLD	D	-0.05%
MGM	D	-0.05%
JKHY	C	-0.05%
LSTR	F	-0.05%
FFIV	B	-0.05%
CHK	D	-0.05%
MKTX	C	-0.05%
ALK	C	-0.04%
CE	F	-0.04%
CNP	D	-0.04%
TER	D	-0.04%
LECO	F	-0.04%
CNM	F	-0.04%
J	C	-0.04%
NYT	C	-0.04%
KNSL	C	-0.04%
AMCR	C	-0.04%
IP	C	-0.04%
ARMK	C	-0.04%
DBX	D	-0.04%
SAIA	D	-0.04%
CHE	C	-0.04%
COKE	C	-0.04%
GNTX	D	-0.04%
DCI	D	-0.04%
MCHP	D	-0.04%
INGR	B	-0.04%
ITT	B	-0.04%
WAT	C	-0.03%
PINC	D	-0.03%
G	C	-0.03%
SSD	C	-0.03%
LKQ	F	-0.03%
CPB	B	-0.03%
TTEK	C	-0.03%
OLN	D	-0.03%
LOPE	D	-0.03%
EXEL	C	-0.03%
WTW	C	-0.03%
MHK	C	-0.03%
KNX	D	-0.03%
MSM	D	-0.03%
HII	D	-0.03%
PVH	F	-0.03%
GAP	F	-0.03%
AAL	D	-0.03%
DPZ	D	-0.03%
DGX	C	-0.03%
VVV	D	-0.03%
X	D	-0.03%
ALSN	B	-0.03%
PII	D	-0.03%
FCN	C	-0.03%
HLI	A	-0.03%
GLPI	C	-0.03%
LAMR	A	-0.03%
ROL	C	-0.03%
TAP	D	-0.03%
MEDP	D	-0.03%
PAYC	D	-0.03%
RPRX	D	-0.03%
WYNN	D	-0.03%
ACM	B	-0.03%
CRUS	D	-0.03%
LPX	B	-0.03%
OSK	D	-0.03%
FIX	A	-0.03%
USFD	B	-0.03%
JHG	B	-0.02%
DINO	F	-0.02%
MTZ	B	-0.02%
FIVE	D	-0.02%
NEU	D	-0.02%
CDW	D	-0.02%
RLI	B	-0.02%
IWB	A	-0.0%