SPY vs. CFA ETF Comparison

Comparison of SPDR S&P 500 (SPY) to Compass EMP US 500 Volatility Weighted Index ETF (CFA)

SPY

SPDR S&P 500

SPY Description

The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust holds the Portfolio and cash and is not actively "managed" by traditional methods. To maintain the correspondence between the composition and weightings of Portfolio Securities and component stocks of the S&P 500 Index, the Trustee adjusts the Portfolio from time to time to conform to periodic changes in the identity and/or relative weightings of Index Securities.

Grade (RS Rating)

Last Trade

$567.82

Average Daily Volume

50,787,434

Number of Holdings ^*

497

* may have additional holdings in another (foreign) market

CFA

Compass EMP US 500 Volatility Weighted Index ETF

CFA Description

The investment seeks to provide investment results that match the performance of the CEMP U.S. Large Cap 500 Volatility Weighted Index before fees and expenses. The index is an unmanaged index that was created by the fund's investment advisor and generally consists of the common stock of the 500 largest companies by market capitalization that have their headquarters in the U.S. and the stock of which trades on U.S. exchanges. Under normal market conditions, the fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in securities of U.S. issuers included in the index as of its most recent reconstitution.

Grade (RS Rating)

Last Trade

$85.44

Average Daily Volume

10,229

Number of Holdings ^*

493

* may have additional holdings in another (foreign) market

Performance

Period	SPY	CFA
30 Days	2.56%	1.21%
60 Days	6.88%	6.69%
90 Days	2.69%	8.17%
12 Months	35.52%	29.07%

401 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in CFA	Overlap
A	B	0.09%	0.19%	0.09%
AAPL	C	7.11%	0.2%	0.2%
ABBV	B	0.7%	0.25%	0.25%
ABNB	D	0.12%	0.15%	0.12%
ABT	C	0.4%	0.26%	0.26%
ACGL	B	0.09%	0.24%	0.09%
ACN	B	0.46%	0.21%	0.21%
ADBE	F	0.47%	0.12%	0.12%
ADI	C	0.24%	0.14%	0.14%
ADM	F	0.06%	0.13%	0.06%
ADP	A	0.23%	0.33%	0.23%
ADSK	C	0.12%	0.18%	0.12%
AEE	A	0.05%	0.25%	0.05%
AEP	C	0.11%	0.25%	0.11%
AES	C	0.03%	0.16%	0.03%
AFL	A	0.11%	0.24%	0.11%
AIG	F	0.1%	0.23%	0.1%
AJG	D	0.13%	0.26%	0.13%
AKAM	D	0.03%	0.17%	0.03%
ALGN	D	0.04%	0.13%	0.04%
ALL	C	0.1%	0.23%	0.1%
ALLE	A	0.03%	0.22%	0.03%
AMAT	B	0.36%	0.12%	0.12%
AMD	B	0.56%	0.11%	0.11%
AME	D	0.08%	0.23%	0.08%
AMGN	D	0.35%	0.18%	0.18%
AMP	A	0.09%	0.28%	0.09%
AMZN	C	3.67%	0.18%	0.18%
ANET	A	0.2%	0.13%	0.13%
AON	B	0.15%	0.22%	0.15%
AOS	B	0.02%	0.22%	0.02%
APD	C	0.14%	0.17%	0.14%
APH	D	0.16%	0.18%	0.16%
APTV	D	0.04%	0.13%	0.04%
ATO	A	0.04%	0.34%	0.04%
AVGO	C	1.7%	0.11%	0.11%
AVY	D	0.04%	0.28%	0.04%
AWK	C	0.06%	0.24%	0.06%
AXON	A	0.06%	0.15%	0.06%
AXP	B	0.31%	0.22%	0.22%
AZO	D	0.11%	0.23%	0.11%
BAC	D	0.55%	0.2%	0.2%
BBY	C	0.04%	0.14%	0.04%
BDX	C	0.14%	0.26%	0.14%
BG	F	0.03%	0.19%	0.03%
BIIB	F	0.06%	0.17%	0.06%
BK	C	0.11%	0.29%	0.11%
BKNG	C	0.29%	0.19%	0.19%
BKR	B	0.07%	0.2%	0.07%
BLDR	B	0.05%	0.12%	0.05%
BLK	A	0.27%	0.26%	0.26%
BR	B	0.05%	0.26%	0.05%
BRK.A	C	1.71%	0.35%	0.35%
BRO	A	0.05%	0.26%	0.05%
BSX	A	0.25%	0.29%	0.25%
BX	C	0.23%	0.17%	0.17%
C	C	0.24%	0.19%	0.19%
CAG	D	0.03%	0.24%	0.03%
CAH	B	0.05%	0.22%	0.05%
CARR	B	0.14%	0.18%	0.14%
CAT	A	0.39%	0.21%	0.21%
CB	B	0.22%	0.29%	0.22%
CBOE	B	0.04%	0.24%	0.04%
CBRE	B	0.08%	0.18%	0.08%
CDNS	D	0.15%	0.15%	0.15%
CDW	D	0.06%	0.19%	0.06%
CE	C	0.03%	0.19%	0.03%
CEG	A	0.16%	0.14%	0.14%
CF	A	0.03%	0.19%	0.03%
CFG	D	0.04%	0.15%	0.04%
CHD	D	0.05%	0.31%	0.05%
CHRW	C	0.03%	0.15%	0.03%
CHTR	D	0.06%	0.11%	0.06%
CI	D	0.2%	0.24%	0.2%
CINF	B	0.04%	0.23%	0.04%
CL	D	0.17%	0.32%	0.17%
CLX	C	0.04%	0.23%	0.04%
CMCSA	C	0.33%	0.24%	0.24%
CME	A	0.16%	0.29%	0.16%
CMG	C	0.16%	0.17%	0.16%
CMI	A	0.09%	0.21%	0.09%
CMS	A	0.04%	0.29%	0.04%
CNC	F	0.08%	0.18%	0.08%
CNP	B	0.04%	0.25%	0.04%
COF	C	0.12%	0.19%	0.12%
COP	D	0.24%	0.24%	0.24%
COST	C	0.82%	0.23%	0.23%
CPAY	A	0.04%	0.18%	0.04%
CPB	D	0.02%	0.22%	0.02%
CPRT	C	0.09%	0.25%	0.09%
CRM	B	0.55%	0.14%	0.14%
CRWD	D	0.13%	0.1%	0.1%
CSCO	A	0.44%	0.27%	0.27%
CSGP	F	0.06%	0.17%	0.06%
CSX	D	0.14%	0.28%	0.14%
CTAS	C	0.15%	0.25%	0.15%
CTRA	D	0.04%	0.21%	0.04%
CTSH	B	0.08%	0.23%	0.08%
CTVA	A	0.08%	0.15%	0.08%
CVS	C	0.15%	0.16%	0.15%
CVX	B	0.5%	0.26%	0.26%
D	A	0.1%	0.21%	0.1%
DAL	C	0.07%	0.18%	0.07%
DD	C	0.08%	0.18%	0.08%
DE	B	0.22%	0.22%	0.22%
DECK	B	0.05%	0.12%	0.05%
DELL	C	0.07%	0.07%	0.07%
DG	F	0.04%	0.1%	0.04%
DGX	C	0.04%	0.23%	0.04%
DHI	C	0.11%	0.14%	0.11%
DHR	D	0.37%	0.22%	0.22%
DIS	D	0.35%	0.18%	0.18%
DOV	B	0.05%	0.24%	0.05%
DOW	B	0.08%	0.26%	0.08%
DPZ	D	0.03%	0.17%	0.03%
DRI	C	0.04%	0.24%	0.04%
DTE	A	0.05%	0.26%	0.05%
DUK	B	0.18%	0.31%	0.18%
DVA	C	0.02%	0.19%	0.02%
DVN	F	0.05%	0.18%	0.05%
DXCM	F	0.06%	0.07%	0.06%
EA	D	0.07%	0.26%	0.07%
EBAY	A	0.06%	0.22%	0.06%
ECL	B	0.13%	0.24%	0.13%
ED	A	0.07%	0.29%	0.07%
EFX	C	0.07%	0.15%	0.07%
EG	B	0.03%	0.2%	0.03%
EIX	B	0.07%	0.26%	0.07%
EL	D	0.05%	0.13%	0.05%
ELV	F	0.25%	0.23%	0.23%
EMN	C	0.03%	0.23%	0.03%
EMR	B	0.13%	0.2%	0.13%
ENPH	F	0.03%	0.07%	0.03%
EOG	B	0.14%	0.22%	0.14%
EPAM	F	0.02%	0.1%	0.02%
EQT	B	0.04%	0.16%	0.04%
ERIE	B	0.03%	0.2%	0.03%
ETN	C	0.27%	0.18%	0.18%
ETR	A	0.06%	0.29%	0.06%
EVRG	C	0.03%	0.28%	0.03%
EW	F	0.08%	0.1%	0.08%
EXC	A	0.08%	0.23%	0.08%
EXPD	D	0.04%	0.25%	0.04%
EXPE	B	0.04%	0.12%	0.04%
F	D	0.09%	0.12%	0.09%
FANG	C	0.06%	0.17%	0.06%
FAST	C	0.08%	0.24%	0.08%
FCX	B	0.15%	0.16%	0.15%
FDS	C	0.04%	0.24%	0.04%
FDX	F	0.12%	0.14%	0.12%
FE	C	0.05%	0.29%	0.05%
FFIV	B	0.03%	0.2%	0.03%
FI	A	0.21%	0.3%	0.21%
FICO	A	0.1%	0.17%	0.1%
FIS	B	0.09%	0.22%	0.09%
FITB	C	0.06%	0.18%	0.06%
FOXA	A	0.02%	0.24%	0.02%
FSLR	C	0.06%	0.1%	0.06%
FTNT	B	0.1%	0.12%	0.1%
FTV	C	0.06%	0.23%	0.06%
GD	C	0.16%	0.31%	0.16%
GDDY	D	0.05%	0.21%	0.05%
GE	C	0.41%	0.18%	0.18%
GEHC	C	0.08%	0.17%	0.08%
GEV	A	0.14%	0.12%	0.12%
GILD	A	0.21%	0.2%	0.2%
GIS	C	0.08%	0.25%	0.08%
GLW	C	0.07%	0.18%	0.07%
GM	D	0.11%	0.15%	0.11%
GOOGL	B	1.96%	0.18%	0.18%
GPC	D	0.04%	0.2%	0.04%
GPN	F	0.05%	0.15%	0.05%
GRMN	D	0.06%	0.18%	0.06%
GS	D	0.32%	0.21%	0.21%
GWW	B	0.1%	0.25%	0.1%
HAL	D	0.05%	0.18%	0.05%
HBAN	D	0.04%	0.17%	0.04%
HCA	C	0.15%	0.21%	0.15%
HD	A	0.81%	0.26%	0.26%
HIG	B	0.07%	0.26%	0.07%
HII	F	0.02%	0.2%	0.02%
HLT	B	0.12%	0.28%	0.12%
HOLX	D	0.04%	0.3%	0.04%
HON	C	0.28%	0.31%	0.28%
HPE	B	0.05%	0.14%	0.05%
HPQ	B	0.07%	0.15%	0.07%
HRL	F	0.02%	0.17%	0.02%
HSY	F	0.06%	0.22%	0.06%
HUBB	B	0.05%	0.17%	0.05%
HUM	F	0.08%	0.11%	0.08%
HWM	A	0.08%	0.15%	0.08%
IBM	A	0.42%	0.23%	0.23%
ICE	A	0.19%	0.31%	0.19%
IDXX	D	0.09%	0.19%	0.09%
IEX	D	0.03%	0.26%	0.03%
INCY	B	0.02%	0.2%	0.02%
INTC	D	0.21%	0.09%	0.09%
INTU	F	0.37%	0.17%	0.17%
IP	C	0.04%	0.16%	0.04%
IPG	D	0.02%	0.22%	0.02%
IQV	F	0.08%	0.15%	0.08%
IR	B	0.08%	0.2%	0.08%
ISRG	C	0.35%	0.18%	0.18%
IT	B	0.08%	0.2%	0.08%
ITW	B	0.15%	0.33%	0.15%
J	F	0.04%	0.22%	0.04%
JBHT	D	0.03%	0.17%	0.03%
JBL	C	0.03%	0.13%	0.03%
JCI	C	0.11%	0.2%	0.11%
JKHY	A	0.03%	0.27%	0.03%
JNJ	D	0.8%	0.3%	0.3%
JPM	D	1.23%	0.23%	0.23%
KDP	C	0.08%	0.29%	0.08%
KEY	C	0.03%	0.14%	0.03%
KEYS	C	0.06%	0.15%	0.06%
KHC	F	0.06%	0.23%	0.06%
KKR	C	0.18%	0.16%	0.16%
KLAC	B	0.22%	0.11%	0.11%
KMB	D	0.1%	0.25%	0.1%
KMI	A	0.09%	0.31%	0.09%
KMX	F	0.03%	0.13%	0.03%
KO	C	0.57%	0.39%	0.39%
KR	C	0.08%	0.24%	0.08%
KVUE	C	0.09%	0.18%	0.09%
L	D	0.03%	0.32%	0.03%
LDOS	A	0.04%	0.28%	0.04%
LEN	B	0.09%	0.16%	0.09%
LHX	A	0.09%	0.28%	0.09%
LIN	B	0.48%	0.32%	0.32%
LLY	D	1.47%	0.15%	0.15%
LMT	A	0.25%	0.35%	0.25%
LNT	A	0.03%	0.28%	0.03%
LOW	A	0.31%	0.23%	0.23%
LRCX	D	0.23%	0.11%	0.11%
LUV	B	0.04%	0.13%	0.04%
LVS	B	0.04%	0.23%	0.04%
LYB	F	0.05%	0.25%	0.05%
LYV	B	0.03%	0.19%	0.03%
MA	A	0.83%	0.31%	0.31%
MAR	B	0.12%	0.24%	0.12%
MAS	A	0.04%	0.19%	0.04%
MCD	A	0.45%	0.28%	0.28%
MCHP	F	0.09%	0.12%	0.09%
MCK	F	0.13%	0.2%	0.13%
MCO	D	0.15%	0.23%	0.15%
MDLZ	D	0.2%	0.29%	0.2%
MDT	C	0.24%	0.27%	0.24%
MET	B	0.1%	0.26%	0.1%
META	A	2.55%	0.13%	0.13%
MGM	C	0.02%	0.15%	0.02%
MKC	C	0.04%	0.21%	0.04%
MLM	F	0.07%	0.21%	0.07%
MMC	D	0.23%	0.31%	0.23%
MMM	C	0.16%	0.13%	0.13%
MNST	D	0.08%	0.23%	0.08%
MO	D	0.18%	0.25%	0.18%
MOH	D	0.04%	0.15%	0.04%
MPC	C	0.11%	0.16%	0.11%
MPWR	B	0.09%	0.09%	0.09%
MRK	F	0.59%	0.22%	0.22%
MS	B	0.27%	0.21%	0.21%
MSCI	B	0.09%	0.16%	0.09%
MSFT	D	6.59%	0.25%	0.25%
MSI	A	0.15%	0.29%	0.15%
MTB	C	0.06%	0.18%	0.06%
MTD	B	0.07%	0.14%	0.07%
NDAQ	B	0.06%	0.25%	0.06%
NDSN	C	0.03%	0.22%	0.03%
NEE	A	0.35%	0.19%	0.19%
NFLX	B	0.63%	0.17%	0.17%
NI	A	0.03%	0.31%	0.03%
NKE	D	0.22%	0.14%	0.14%
NOC	B	0.15%	0.27%	0.15%
NOW	C	0.37%	0.14%	0.14%
NRG	A	0.04%	0.16%	0.04%
NSC	D	0.11%	0.18%	0.11%
NTAP	D	0.05%	0.15%	0.05%
NTRS	C	0.04%	0.2%	0.04%
NUE	C	0.07%	0.18%	0.07%
NVDA	B	6.27%	0.09%	0.09%
NVR	B	0.06%	0.22%	0.06%
NWSA	D	0.02%	0.21%	0.02%
NXPI	F	0.13%	0.12%	0.12%
ODFL	F	0.08%	0.15%	0.08%
OKE	A	0.11%	0.27%	0.11%
OMC	C	0.04%	0.24%	0.04%
ON	F	0.06%	0.09%	0.06%
ORCL	C	0.55%	0.19%	0.19%
ORLY	A	0.14%	0.25%	0.14%
OTIS	A	0.09%	0.3%	0.09%
OXY	D	0.07%	0.22%	0.07%
PANW	D	0.23%	0.09%	0.09%
PAYX	A	0.09%	0.27%	0.09%
PCAR	C	0.11%	0.2%	0.11%
PCG	C	0.09%	0.26%	0.09%
PEG	A	0.09%	0.32%	0.09%
PEP	F	0.48%	0.28%	0.28%
PFG	C	0.04%	0.26%	0.04%
PG	D	0.84%	0.32%	0.32%
PGR	C	0.3%	0.23%	0.23%
PH	B	0.17%	0.19%	0.17%
PHM	A	0.06%	0.17%	0.06%
PKG	B	0.04%	0.26%	0.04%
PLTR	A	0.15%	0.09%	0.09%
PM	D	0.39%	0.29%	0.29%
PNC	C	0.15%	0.19%	0.15%
PODD	C	0.03%	0.14%	0.03%
POOL	B	0.03%	0.16%	0.03%
PPG	D	0.06%	0.28%	0.06%
PPL	B	0.05%	0.31%	0.05%
PRU	C	0.09%	0.21%	0.09%
PSX	D	0.11%	0.18%	0.11%
PTC	D	0.04%	0.23%	0.04%
PWR	B	0.09%	0.16%	0.09%
PYPL	C	0.17%	0.15%	0.15%
QCOM	C	0.4%	0.12%	0.12%
RCL	C	0.09%	0.15%	0.09%
REGN	D	0.23%	0.25%	0.23%
RF	C	0.04%	0.17%	0.04%
RJF	B	0.05%	0.23%	0.05%
RMD	C	0.07%	0.12%	0.07%
ROK	C	0.06%	0.14%	0.06%
ROL	C	0.03%	0.23%	0.03%
ROP	C	0.12%	0.26%	0.12%
ROST	D	0.1%	0.23%	0.1%
RSG	C	0.08%	0.33%	0.08%
RTX	A	0.33%	0.28%	0.28%
SBUX	C	0.23%	0.12%	0.12%
SCHW	D	0.2%	0.18%	0.18%
SHW	C	0.18%	0.24%	0.18%
SJM	D	0.03%	0.23%	0.03%
SLB	D	0.12%	0.18%	0.12%
SNA	A	0.03%	0.22%	0.03%
SNPS	F	0.16%	0.13%	0.13%
SO	A	0.2%	0.29%	0.2%
SOLV	C	0.02%	0.13%	0.02%
SPGI	B	0.34%	0.3%	0.3%
SRE	B	0.11%	0.28%	0.11%
STE	D	0.05%	0.22%	0.05%
STLD	B	0.04%	0.19%	0.04%
STT	C	0.05%	0.22%	0.05%
STX	B	0.05%	0.17%	0.05%
STZ	D	0.08%	0.27%	0.08%
SWKS	F	0.03%	0.11%	0.03%
SYF	B	0.04%	0.16%	0.04%
SYK	C	0.25%	0.25%	0.25%
SYY	D	0.08%	0.25%	0.08%
T	A	0.32%	0.27%	0.27%
TAP	D	0.02%	0.22%	0.02%
TDG	B	0.16%	0.23%	0.16%
TDY	A	0.04%	0.22%	0.04%
TECH	D	0.03%	0.14%	0.03%
TER	C	0.05%	0.1%	0.05%
TFX	C	0.02%	0.17%	0.02%
TGT	D	0.15%	0.15%	0.15%
TJX	D	0.27%	0.27%	0.27%
TMO	D	0.49%	0.23%	0.23%
TMUS	A	0.2%	0.38%	0.2%
TRGP	A	0.07%	0.25%	0.07%
TRMB	B	0.03%	0.21%	0.03%
TROW	D	0.05%	0.21%	0.05%
TRV	C	0.11%	0.23%	0.11%
TSCO	B	0.06%	0.22%	0.06%
TSLA	C	1.45%	0.1%	0.1%
TT	A	0.18%	0.22%	0.18%
TXN	C	0.39%	0.17%	0.17%
TXT	F	0.03%	0.2%	0.03%
TYL	B	0.05%	0.2%	0.05%
UAL	B	0.04%	0.14%	0.04%
UBER	C	0.33%	0.13%	0.13%
UHS	D	0.03%	0.18%	0.03%
ULTA	D	0.04%	0.16%	0.04%
UNH	B	1.09%	0.2%	0.2%
UNP	D	0.3%	0.27%	0.27%
UPS	D	0.2%	0.18%	0.18%
URI	C	0.11%	0.14%	0.11%
USB	D	0.15%	0.17%	0.15%
V	C	0.93%	0.32%	0.32%
VLO	D	0.09%	0.16%	0.09%
VLTO	A	0.06%	0.22%	0.06%
VMC	D	0.07%	0.21%	0.07%
VRSK	C	0.08%	0.23%	0.08%
VRSN	B	0.03%	0.27%	0.03%
VST	B	0.08%	0.14%	0.08%
VZ	B	0.39%	0.25%	0.25%
WAB	B	0.07%	0.25%	0.07%
WAT	B	0.04%	0.17%	0.04%
WEC	A	0.06%	0.26%	0.06%
WFC	F	0.39%	0.18%	0.18%
WM	B	0.15%	0.26%	0.15%
WMB	A	0.11%	0.27%	0.11%
WMT	A	0.71%	0.29%	0.29%
WRB	C	0.04%	0.21%	0.04%
WST	D	0.05%	0.13%	0.05%
XEL	B	0.07%	0.22%	0.07%
XOM	A	1.03%	0.26%	0.26%
XYL	C	0.07%	0.23%	0.07%
YUM	B	0.08%	0.31%	0.08%
ZBH	F	0.05%	0.24%	0.05%
ZBRA	C	0.04%	0.14%	0.04%
ZTS	C	0.18%	0.19%	0.18%

SPY Overweight 96 Positions Relative to CFA

Symbol	Grade	Weight
GOOG	B	1.62%
PFE	D	0.34%
VRTX	D	0.25%
MU	D	0.25%
PLD	D	0.24%
AMT	C	0.22%
BMY	B	0.21%
BA	F	0.19%
EQIX	C	0.17%
WELL	C	0.15%
NEM	C	0.13%
PSA	C	0.12%
TFC	D	0.12%
O	A	0.11%
DLR	C	0.1%
CCI	C	0.1%
SPG	A	0.1%
TEL	D	0.09%
EXR	C	0.08%
AVB	C	0.07%
IRM	A	0.07%
VICI	C	0.07%
DFS	C	0.07%
HES	C	0.07%
IFF	C	0.06%
ANSS	D	0.06%
WTW	C	0.06%
LULU	D	0.06%
WDC	C	0.05%
ES	D	0.05%
WY	C	0.05%
SW	C	0.05%
TTWO	F	0.05%
EQR	C	0.05%
SBAC	C	0.05%
VTR	C	0.05%
WBD	D	0.04%
MAA	D	0.04%
CCL	C	0.04%
ESS	D	0.04%
ARE	D	0.04%
BAX	D	0.04%
INVH	F	0.04%
SMCI	F	0.04%
BALL	C	0.04%
MRNA	F	0.04%
K	A	0.04%
JNPR	B	0.03%
HST	D	0.03%
CPT	C	0.03%
UDR	C	0.03%
VTRS	D	0.03%
MRO	C	0.03%
DLTR	F	0.03%
KIM	C	0.03%
DOC	C	0.03%
PNR	B	0.03%
AMCR	C	0.03%
SWK	C	0.03%
TSN	D	0.03%
RL	B	0.02%
IVZ	B	0.02%
PAYC	D	0.02%
BWA	C	0.02%
MHK	B	0.02%
FMC	C	0.02%
MOS	F	0.02%
WYNN	B	0.02%
FRT	D	0.02%
APA	F	0.02%
CZR	B	0.02%
HSIC	D	0.02%
GNRC	B	0.02%
NCLH	C	0.02%
DAY	B	0.02%
HAS	B	0.02%
LW	D	0.02%
MTCH	B	0.02%
MKTX	B	0.02%
GL	C	0.02%
QRVO	F	0.02%
PNW	B	0.02%
CRL	F	0.02%
AIZ	B	0.02%
LKQ	F	0.02%
TPR	C	0.02%
CTLT	A	0.02%
ALB	D	0.02%
REG	C	0.02%
BXP	C	0.02%
NWS	D	0.01%
FOX	A	0.01%
WBA	F	0.01%
PARA	F	0.01%
BEN	F	0.01%
BBWI	F	0.01%

SPY Underweight 92 Positions Relative to CFA

Symbol	Grade	Weight
GGG	C	-0.27%
COR	F	-0.27%
CW	A	-0.26%
SSNC	C	-0.26%
LNG	A	-0.26%
AFG	B	-0.26%
HEI	C	-0.24%
TW	A	-0.24%
MKL	C	-0.24%
ACM	A	-0.23%
MORN	C	-0.23%
RPM	B	-0.23%
SCI	D	-0.23%
RNR	A	-0.23%
IBKR	A	-0.22%
FNF	B	-0.21%
JEF	A	-0.21%
EQH	C	-0.21%
RGA	C	-0.21%
TXRH	C	-0.21%
USFD	C	-0.21%
CSL	A	-0.2%
ITT	C	-0.2%
PFGC	A	-0.2%
ARES	A	-0.19%
CLH	C	-0.19%
TTEK	A	-0.19%
WLK	C	-0.18%
PAG	D	-0.18%
RYAN	A	-0.18%
WSO	C	-0.18%
APO	B	-0.18%
WMG	C	-0.18%
RS	D	-0.18%
H	C	-0.18%
BAH	A	-0.18%
OVV	D	-0.17%
OC	C	-0.17%
CASY	D	-0.17%
LII	C	-0.17%
EME	C	-0.17%
OWL	A	-0.17%
UHAL	B	-0.17%
LPLA	C	-0.16%
DT	B	-0.16%
MANH	C	-0.16%
JLL	C	-0.16%
GEN	B	-0.16%
VEEV	C	-0.16%
CRBG	B	-0.16%
UTHR	C	-0.16%
PR	D	-0.16%
RVTY	C	-0.16%
EWBC	D	-0.16%
WING	C	-0.15%
FCNCA	D	-0.15%
BSY	D	-0.15%
ZM	C	-0.15%
DOCU	B	-0.14%
COKE	C	-0.14%
BMRN	F	-0.14%
TOL	A	-0.14%
CPNG	C	-0.14%
THC	D	-0.14%
AVTR	D	-0.14%
BURL	D	-0.13%
DDOG	C	-0.13%
WMS	D	-0.13%
FND	C	-0.13%
WDAY	D	-0.13%
WSM	B	-0.12%
PINS	C	-0.12%
BLD	D	-0.12%
ALLY	F	-0.12%
FIX	B	-0.12%
NBIX	F	-0.12%
TPL	A	-0.12%
KNSL	C	-0.11%
XPO	F	-0.11%
TTD	A	-0.11%
APP	A	-0.11%
ENTG	D	-0.11%
SQ	D	-0.1%
VRT	B	-0.1%
DKS	D	-0.1%
PSTG	F	-0.09%
RKT	D	-0.09%
HOOD	C	-0.09%
CHWY	C	-0.08%
SRPT	F	-0.08%
COIN	F	-0.06%
CVNA	A	-0.06%