SPY vs. QARP ETF Comparison

Comparison of SPDR S&P 500 (SPY) to Xtrackers Russell 1000 US QARP ETF (QARP)

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

$568.25

Average Daily Volume

51,066,552

Number of Holdings ^*

496

* 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	SPY	QARP
30 Days	1.67%	1.93%
60 Days	2.77%	3.39%
90 Days	4.68%	5.27%
12 Months	33.51%	25.77%

250 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in QARP	Overlap
A	C	0.09%	0.1%	0.09%
AAL	D	0.02%	0.03%	0.02%
AAPL	C	6.87%	5.0%	5.0%
ABBV	C	0.74%	0.02%	0.02%
ABNB	D	0.11%	0.21%	0.11%
ABT	C	0.43%	0.23%	0.23%
ACGL	B	0.09%	0.28%	0.09%
ACN	C	0.47%	1.2%	0.47%
ADBE	F	0.56%	1.05%	0.56%
ADI	C	0.24%	0.09%	0.09%
ADM	D	0.06%	0.32%	0.06%
ADP	B	0.24%	0.21%	0.21%
ADSK	C	0.12%	0.06%	0.06%
ALB	F	0.02%	0.02%	0.02%
ALGN	D	0.03%	0.05%	0.03%
AMAT	F	0.33%	0.78%	0.33%
AMCR	C	0.03%	0.04%	0.03%
AMD	D	0.52%	0.08%	0.08%
AMGN	B	0.38%	0.03%	0.03%
AMZN	C	3.61%	3.6%	3.6%
ANET	A	0.18%	0.11%	0.11%
AON	B	0.16%	0.33%	0.16%
AOS	D	0.02%	0.07%	0.02%
APA	F	0.02%	0.02%	0.02%
APTV	D	0.04%	0.06%	0.04%
ATO	B	0.04%	0.07%	0.04%
AZO	D	0.12%	0.36%	0.12%
BBWI	F	0.01%	0.02%	0.01%
BBY	C	0.04%	0.26%	0.04%
BIIB	F	0.06%	0.02%	0.02%
BKNG	B	0.28%	0.65%	0.28%
BKR	D	0.07%	0.08%	0.07%
BLDR	C	0.04%	0.17%	0.04%
BMY	C	0.21%	0.55%	0.21%
BRK.A	C	1.76%	5.43%	1.76%
BWA	D	0.02%	0.06%	0.02%
BX	B	0.22%	0.05%	0.05%
CAH	C	0.06%	0.4%	0.06%
CAT	B	0.35%	0.61%	0.35%
CBOE	C	0.05%	0.08%	0.05%
CBRE	A	0.07%	0.09%	0.07%
CCL	C	0.04%	0.03%	0.03%
CDNS	D	0.15%	0.02%	0.02%
CDW	D	0.06%	0.02%	0.02%
CE	F	0.03%	0.04%	0.03%
CF	C	0.03%	0.12%	0.03%
CHRW	A	0.02%	0.06%	0.02%
CHTR	D	0.07%	0.12%	0.07%
CI	C	0.22%	0.64%	0.22%
CINF	C	0.05%	0.09%	0.05%
CL	C	0.19%	0.26%	0.19%
CLX	C	0.04%	0.07%	0.04%
CMCSA	D	0.32%	0.82%	0.32%
CMG	C	0.16%	0.1%	0.1%
CMI	C	0.09%	0.23%	0.09%
CNC	C	0.08%	0.3%	0.08%
CNP	D	0.04%	0.04%	0.04%
COF	A	0.11%	0.13%	0.11%
COP	D	0.26%	0.76%	0.26%
COST	B	0.85%	2.39%	0.85%
CPB	B	0.02%	0.03%	0.02%
CPRT	D	0.09%	0.06%	0.06%
CSCO	B	0.43%	1.77%	0.43%
CSX	D	0.14%	0.07%	0.07%
CTAS	C	0.15%	0.08%	0.08%
CTRA	D	0.04%	0.1%	0.04%
CTSH	C	0.08%	0.3%	0.08%
CTVA	B	0.08%	0.02%	0.02%
CVS	F	0.15%	0.2%	0.15%
CVX	D	0.51%	1.39%	0.51%
DAL	C	0.06%	0.16%	0.06%
DD	B	0.07%	0.02%	0.02%
DE	B	0.22%	0.25%	0.22%
DECK	D	0.05%	0.12%	0.05%
DGX	C	0.04%	0.03%	0.03%
DHI	C	0.12%	0.37%	0.12%
DLTR	F	0.03%	0.07%	0.03%
DOW	D	0.08%	0.08%	0.08%
DPZ	D	0.03%	0.03%	0.03%
DRI	B	0.04%	0.13%	0.04%
DVN	F	0.05%	0.18%	0.05%
EA	D	0.08%	0.19%	0.08%
EBAY	B	0.07%	0.09%	0.07%
EG	C	0.03%	0.06%	0.03%
EL	F	0.04%	0.03%	0.03%
ELV	C	0.27%	0.67%	0.27%
EOG	D	0.15%	0.47%	0.15%
EPAM	F	0.02%	0.04%	0.02%
EW	F	0.09%	0.06%	0.06%
EXPD	C	0.04%	0.14%	0.04%
EXPE	C	0.04%	0.13%	0.04%
FANG	D	0.06%	0.19%	0.06%
FAST	C	0.08%	0.19%	0.08%
FCX	D	0.13%	0.04%	0.04%
FDS	C	0.04%	0.1%	0.04%
FDX	F	0.14%	0.34%	0.14%
FFIV	B	0.03%	0.05%	0.03%
FICO	B	0.1%	0.06%	0.06%
FOXA	B	0.02%	0.03%	0.02%
FTNT	B	0.1%	0.18%	0.1%
GEHC	C	0.08%	0.15%	0.08%
GEV	B	0.12%	0.13%	0.12%
GILD	B	0.22%	0.31%	0.22%
GIS	B	0.09%	0.11%	0.09%
GM	B	0.11%	0.21%	0.11%
GOOG	D	1.59%	1.92%	1.59%
GOOGL	D	1.9%	2.12%	1.9%
GPC	D	0.04%	0.08%	0.04%
GRMN	D	0.06%	0.14%	0.06%
GWW	A	0.09%	0.24%	0.09%
HAL	F	0.05%	0.06%	0.05%
HCA	A	0.16%	0.32%	0.16%
HD	A	0.79%	1.94%	0.79%
HII	D	0.02%	0.03%	0.02%
HOLX	C	0.04%	0.05%	0.04%
HPQ	D	0.06%	0.08%	0.06%
HST	C	0.03%	0.03%	0.03%
HSY	D	0.06%	0.1%	0.06%
HUM	F	0.08%	0.4%	0.08%
INCY	C	0.02%	0.06%	0.02%
INTC	F	0.18%	0.07%	0.07%
IP	C	0.03%	0.04%	0.03%
ISRG	C	0.37%	0.17%	0.17%
ITW	C	0.14%	0.31%	0.14%
J	C	0.04%	0.04%	0.04%
JBHT	D	0.03%	0.05%	0.03%
JBL	D	0.03%	0.05%	0.03%
JKHY	C	0.03%	0.05%	0.03%
JNJ	C	0.85%	2.71%	0.85%
JNPR	A	0.03%	0.04%	0.03%
K	A	0.05%	0.06%	0.05%
KEYS	C	0.06%	0.12%	0.06%
KLAC	D	0.22%	0.2%	0.2%
KMB	D	0.1%	0.18%	0.1%
KR	C	0.07%	0.28%	0.07%
KVUE	C	0.09%	0.21%	0.09%
LEN	C	0.09%	0.45%	0.09%
LKQ	F	0.02%	0.03%	0.02%
LLY	C	1.57%	0.04%	0.04%
LMT	B	0.26%	0.81%	0.26%
LOW	A	0.3%	0.76%	0.3%
LRCX	F	0.21%	0.46%	0.21%
LULU	D	0.06%	0.14%	0.06%
LUV	C	0.04%	0.1%	0.04%
LVS	D	0.03%	0.04%	0.03%
LYB	F	0.05%	0.11%	0.05%
LYV	B	0.03%	0.07%	0.03%
MA	C	0.86%	1.57%	0.86%
MAR	C	0.12%	0.11%	0.11%
MAS	B	0.04%	0.08%	0.04%
MCD	B	0.45%	0.41%	0.41%
MCHP	F	0.09%	0.04%	0.04%
MCK	F	0.14%	1.01%	0.14%
MCO	A	0.16%	0.35%	0.16%
META	A	2.4%	4.8%	2.4%
MGM	D	0.02%	0.05%	0.02%
MHK	C	0.02%	0.03%	0.02%
MKTX	C	0.02%	0.05%	0.02%
MMC	C	0.24%	0.61%	0.24%
MMM	A	0.15%	0.12%	0.12%
MNST	D	0.08%	0.14%	0.08%
MO	D	0.2%	0.65%	0.2%
MOH	D	0.04%	0.07%	0.04%
MOS	F	0.02%	0.04%	0.02%
MPC	F	0.12%	0.28%	0.12%
MRK	D	0.62%	0.4%	0.4%
MRNA	F	0.06%	0.1%	0.06%
MRO	C	0.03%	0.11%	0.03%
MSCI	C	0.1%	0.22%	0.1%
MSFT	C	6.73%	2.12%	2.12%
MTD	D	0.06%	0.11%	0.06%
MU	F	0.21%	0.32%	0.21%
NKE	D	0.2%	0.34%	0.2%
NTAP	D	0.05%	0.06%	0.05%
NUE	F	0.07%	0.37%	0.07%
NVDA	D	6.15%	0.14%	0.14%
NVR	B	0.06%	0.23%	0.06%
ODFL	D	0.07%	0.17%	0.07%
ON	F	0.06%	0.05%	0.05%
ORCL	B	0.54%	0.04%	0.04%
ORLY	D	0.14%	0.37%	0.14%
OTIS	C	0.08%	0.04%	0.04%
OXY	F	0.07%	0.06%	0.06%
PAYC	D	0.02%	0.03%	0.02%
PAYX	C	0.09%	0.19%	0.09%
PCAR	D	0.11%	0.21%	0.11%
PFE	D	0.36%	0.59%	0.36%
PG	C	0.88%	1.51%	0.88%
PGR	A	0.31%	0.06%	0.06%
PHM	B	0.06%	0.23%	0.06%
PKG	B	0.04%	0.05%	0.04%
PM	C	0.42%	0.58%	0.42%
POOL	D	0.03%	0.06%	0.03%
PSA	B	0.12%	0.35%	0.12%
PSX	D	0.11%	0.12%	0.11%
PWR	B	0.08%	0.05%	0.05%
PYPL	B	0.16%	0.28%	0.16%
QCOM	F	0.4%	0.27%	0.27%
REGN	C	0.26%	0.4%	0.26%
RL	B	0.01%	0.05%	0.01%
ROK	F	0.06%	0.09%	0.06%
ROL	C	0.03%	0.03%	0.03%
ROST	C	0.11%	0.29%	0.11%
SBUX	C	0.24%	0.51%	0.24%
SJM	C	0.03%	0.03%	0.03%
SLB	F	0.12%	0.14%	0.12%
SNA	C	0.03%	0.1%	0.03%
SOLV	C	0.02%	0.11%	0.02%
SPG	A	0.11%	0.2%	0.11%
SPGI	A	0.35%	0.08%	0.08%
STLD	D	0.03%	0.2%	0.03%
SWKS	F	0.03%	0.1%	0.03%
SYF	C	0.04%	0.1%	0.04%
SYY	D	0.08%	0.37%	0.08%
T	C	0.33%	0.72%	0.33%
TAP	D	0.02%	0.03%	0.02%
TER	D	0.04%	0.04%	0.04%
TGT	C	0.15%	0.41%	0.15%
TJX	C	0.29%	0.85%	0.29%
TPR	C	0.02%	0.09%	0.02%
TROW	D	0.05%	0.23%	0.05%
TSCO	C	0.06%	0.16%	0.06%
TSLA	C	1.35%	0.58%	0.58%
TSN	D	0.04%	0.04%	0.04%
TT	A	0.17%	0.07%	0.07%
TXN	C	0.39%	0.38%	0.38%
TXT	D	0.04%	0.06%	0.04%
UAL	C	0.03%	0.06%	0.03%
UHS	B	0.03%	0.06%	0.03%
ULTA	D	0.04%	0.16%	0.04%
UNH	C	1.16%	2.48%	1.16%
UNP	C	0.32%	0.14%	0.14%
UPS	F	0.2%	0.42%	0.2%
URI	B	0.1%	0.2%	0.1%
V	C	0.96%	1.81%	0.96%
VICI	C	0.07%	0.08%	0.07%
VLO	F	0.09%	0.18%	0.09%
VRSN	D	0.03%	0.06%	0.03%
VRTX	D	0.26%	0.22%	0.22%
VST	A	0.06%	0.12%	0.06%
VZ	B	0.39%	0.74%	0.39%
WAT	C	0.04%	0.03%	0.03%
WBD	D	0.03%	0.03%	0.03%
WMT	C	0.72%	2.86%	0.72%
WST	D	0.05%	0.08%	0.05%
WTW	C	0.06%	0.03%	0.03%
WY	C	0.05%	0.08%	0.05%
WYNN	D	0.02%	0.03%	0.02%
XOM	D	1.05%	3.11%	1.05%
YUM	F	0.08%	0.06%	0.06%

SPY Overweight 246 Positions Relative to QARP

Symbol	Grade	Weight
AVGO	C	1.48%
JPM	D	1.27%
NFLX	B	0.63%
KO	B	0.59%
BAC	D	0.57%
PEP	D	0.52%
CRM	D	0.52%
TMO	C	0.51%
LIN	B	0.48%
IBM	A	0.41%
WFC	D	0.4%
INTU	C	0.39%
GE	A	0.39%
DHR	C	0.38%
NOW	A	0.38%
NEE	C	0.37%
RTX	C	0.34%
DIS	D	0.34%
GS	C	0.33%
AXP	B	0.31%
UBER	C	0.31%
HON	D	0.28%
SYK	C	0.27%
MDT	C	0.26%
PLD	C	0.26%
BSX	B	0.26%
MS	C	0.26%
BLK	B	0.26%
CB	B	0.25%
ETN	C	0.25%
PANW	C	0.24%
AMT	C	0.24%
C	D	0.23%
TMUS	C	0.22%
SO	A	0.21%
MDLZ	C	0.21%
ICE	C	0.2%
BA	F	0.2%
SCHW	D	0.2%
SHW	B	0.19%
DUK	B	0.19%
EQIX	B	0.18%
ZTS	C	0.18%
KKR	A	0.17%
CME	C	0.17%
SNPS	D	0.16%
TDG	B	0.16%
APH	D	0.16%
PH	A	0.16%
WM	D	0.16%
WELL	C	0.16%
GD	B	0.15%
USB	B	0.15%
PNC	A	0.15%
NOC	A	0.15%
MSI	B	0.15%
ECL	A	0.14%
AJG	D	0.14%
BDX	F	0.14%
ROP	C	0.13%
CRWD	D	0.13%
NEM	B	0.13%
CEG	A	0.13%
NXPI	D	0.13%
CARR	B	0.13%
APD	B	0.13%
AEP	C	0.12%
WMB	B	0.12%
O	C	0.12%
TFC	D	0.12%
AFL	C	0.12%
EMR	D	0.12%
NSC	C	0.12%
BK	A	0.11%
DLR	B	0.11%
SRE	B	0.11%
CCI	C	0.11%
HLT	B	0.11%
OKE	B	0.11%
TRV	C	0.11%
MET	A	0.1%
FIS	B	0.1%
JCI	B	0.1%
AIG	D	0.1%
D	B	0.1%
ALL	B	0.1%
STZ	D	0.09%
KMI	A	0.09%
IDXX	D	0.09%
F	F	0.09%
PEG	B	0.09%
PRU	C	0.09%
RSG	D	0.09%
PCG	C	0.09%
MPWR	C	0.09%
LHX	C	0.09%
IQV	D	0.09%
AMP	B	0.09%
TEL	D	0.09%
XEL	B	0.08%
ED	C	0.08%
IR	C	0.08%
EFX	C	0.08%
HWM	B	0.08%
RMD	C	0.08%
EXR	B	0.08%
AME	C	0.08%
RCL	A	0.08%
KDP	B	0.08%
VRSK	D	0.08%
IT	A	0.08%
EXC	B	0.08%
VMC	D	0.07%
XYL	D	0.07%
MLM	D	0.07%
GLW	B	0.07%
DFS	B	0.07%
TRGP	B	0.07%
EIX	C	0.07%
AVB	C	0.07%
CSGP	D	0.07%
IRM	B	0.07%
HIG	B	0.07%
HES	D	0.07%
ETR	A	0.06%
SBAC	C	0.06%
VTR	C	0.06%
EQR	C	0.06%
IFF	C	0.06%
DXCM	F	0.06%
MTB	A	0.06%
ANSS	D	0.06%
GPN	D	0.06%
KHC	C	0.06%
FITB	B	0.06%
WAB	A	0.06%
AWK	C	0.06%
PPG	D	0.06%
NDAQ	A	0.06%
WEC	B	0.06%
HPE	D	0.05%
HUBB	A	0.05%
GDDY	C	0.05%
CPAY	C	0.05%
AEE	A	0.05%
RJF	C	0.05%
SW	C	0.05%
ZBH	F	0.05%
SMCI	F	0.05%
FE	C	0.05%
PPL	B	0.05%
ES	C	0.05%
BRO	C	0.05%
VLTO	B	0.05%
STE	C	0.05%
TTWO	D	0.05%
TYL	C	0.05%
BR	D	0.05%
STT	B	0.05%
CHD	C	0.05%
FTV	C	0.05%
AXON	A	0.05%
DOV	B	0.05%
DTE	B	0.05%
FSLR	C	0.05%
NRG	A	0.04%
PFG	B	0.04%
ZBRA	B	0.04%
WRB	C	0.04%
AVY	D	0.04%
DG	F	0.04%
NTRS	B	0.04%
CFG	C	0.04%
ARE	C	0.04%
MAA	C	0.04%
OMC	B	0.04%
EQT	D	0.04%
ESS	C	0.04%
STX	C	0.04%
BAX	C	0.04%
TDY	C	0.04%
PTC	D	0.04%
CMS	B	0.04%
WDC	D	0.04%
HBAN	B	0.04%
RF	B	0.04%
BALL	C	0.04%
INVH	C	0.04%
MKC	C	0.04%
LDOS	B	0.04%
EMN	B	0.03%
IPG	C	0.03%
KMX	D	0.03%
AES	C	0.03%
ALLE	C	0.03%
REG	C	0.03%
CPT	B	0.03%
NDSN	C	0.03%
VTRS	D	0.03%
TRMB	C	0.03%
EVRG	B	0.03%
BG	D	0.03%
UDR	C	0.03%
L	D	0.03%
PNR	B	0.03%
AKAM	D	0.03%
IEX	D	0.03%
LNT	B	0.03%
KEY	B	0.03%
CAG	C	0.03%
SWK	B	0.03%
NI	B	0.03%
ENPH	D	0.03%
KIM	C	0.03%
DOC	C	0.03%
PODD	B	0.03%
IVZ	B	0.02%
CZR	C	0.02%
FMC	C	0.02%
NCLH	C	0.02%
DVA	B	0.02%
FRT	C	0.02%
HAS	B	0.02%
GL	C	0.02%
HSIC	D	0.02%
GNRC	D	0.02%
DAY	D	0.02%
LW	D	0.02%
HRL	D	0.02%
MTCH	C	0.02%
CRL	F	0.02%
NWSA	D	0.02%
AIZ	B	0.02%
PNW	B	0.02%
QRVO	F	0.02%
BXP	B	0.02%
CTLT	B	0.02%
TFX	C	0.02%
TECH	D	0.02%
NWS	D	0.01%
FOX	B	0.01%
PARA	F	0.01%
BEN	F	0.01%
ETSY	F	0.01%
WBA	F	0.01%
BIO	C	0.01%

SPY Underweight 94 Positions Relative to QARP

Symbol	Grade	Weight
WSM	D	-0.16%
RS	D	-0.15%
LPLA	D	-0.14%
FCNCA	D	-0.13%
MTG	B	-0.12%
EME	A	-0.12%
CASY	D	-0.12%
OC	C	-0.11%
CPNG	A	-0.1%
UTHR	C	-0.1%
DKS	D	-0.1%
BJ	D	-0.1%
AMG	C	-0.09%
EVR	A	-0.09%
HRB	C	-0.09%
GGG	C	-0.07%
SKX	D	-0.07%
DOX	C	-0.07%
WSO	C	-0.07%
TOL	B	-0.07%
PFGC	B	-0.07%
ACI	F	-0.06%
MUSA	D	-0.06%
RNR	B	-0.06%
AGCO	D	-0.06%
SEIC	C	-0.06%
RHI	D	-0.06%
AYI	A	-0.06%
LNG	C	-0.06%
FND	C	-0.05%
LEA	F	-0.05%
CHRD	F	-0.05%
CSL	B	-0.05%
EXP	B	-0.05%
CLF	F	-0.05%
TXRH	C	-0.05%
BLD	D	-0.05%
LSTR	F	-0.05%
CHK	D	-0.05%
ALK	C	-0.04%
LECO	F	-0.04%
CNM	F	-0.04%
NYT	C	-0.04%
KNSL	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%
INGR	B	-0.04%
BURL	C	-0.04%
ITT	B	-0.04%
PINC	D	-0.03%
G	C	-0.03%
SSD	C	-0.03%
TTEK	C	-0.03%
OLN	D	-0.03%
OVV	F	-0.03%
LOPE	D	-0.03%
EXEL	C	-0.03%
KNX	D	-0.03%
THO	D	-0.03%
MSM	D	-0.03%
PVH	F	-0.03%
GAP	F	-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%
COIN	F	-0.03%
CROX	D	-0.03%
MEDP	D	-0.03%
RPRX	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%
AR	F	-0.02%
JHG	B	-0.02%
DINO	F	-0.02%
MTZ	B	-0.02%
FIVE	D	-0.02%
NEU	D	-0.02%
M	F	-0.02%
RLI	B	-0.02%
IWB	A	-0.0%