SPY vs. QWLD ETF Comparison

Comparison of SPDR S&P 500 (SPY) to SPDR MSCI World Quality Mix ETF (QWLD)

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

$570.98

Average Daily Volume

50,678,851

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

QWLD

SPDR MSCI World Quality Mix ETF

QWLD Description

The investment seeks to track the performance of the MSCI World Quality Mix Index. The index captures large-and mid-cap representation across 24 developed countries and aims to represent the performance of value, low volatility, and quality factor strategies. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs") based on securities comprising the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$128.25

Average Daily Volume

4,874

Number of Holdings ^*

605

* may have additional holdings in another (foreign) market

Performance

Period	SPY	QWLD
30 Days	2.20%	1.92%
60 Days	4.01%	4.80%
90 Days	4.86%	6.62%
12 Months	31.53%	25.18%

479 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in QWLD	Overlap
A	C	0.09%	0.07%	0.07%
AAPL	C	6.87%	2.56%	2.56%
ABBV	C	0.74%	0.41%	0.41%
ABBV	C	0.74%	0.15%	0.15%
ABNB	D	0.11%	0.01%	0.01%
ABT	C	0.43%	0.09%	0.09%
ACGL	C	0.09%	0.28%	0.09%
ACN	C	0.47%	0.65%	0.47%
ADBE	F	0.56%	0.49%	0.49%
ADI	C	0.24%	0.04%	0.04%
ADM	D	0.06%	0.05%	0.05%
ADP	B	0.24%	0.24%	0.24%
ADSK	C	0.12%	0.08%	0.08%
AEE	C	0.05%	0.08%	0.05%
AEP	C	0.12%	0.07%	0.07%
AES	C	0.03%	0.01%	0.01%
AFL	C	0.12%	0.12%	0.12%
AIG	D	0.1%	0.07%	0.07%
AIZ	B	0.02%	0.07%	0.02%
AJG	D	0.14%	0.19%	0.14%
AKAM	D	0.03%	0.12%	0.03%
ALB	D	0.02%	0.01%	0.01%
ALGN	D	0.03%	0.0%	0.0%
ALL	B	0.1%	0.07%	0.07%
ALLE	B	0.03%	0.02%	0.02%
AMAT	D	0.33%	0.32%	0.32%
AMCR	B	0.03%	0.08%	0.03%
AMD	D	0.52%	0.04%	0.04%
AME	C	0.08%	0.01%	0.01%
AMGN	B	0.38%	0.19%	0.19%
AMP	A	0.09%	0.07%	0.07%
AMT	C	0.24%	0.03%	0.03%
AMZN	C	3.61%	0.34%	0.34%
ANET	B	0.18%	0.18%	0.18%
ANSS	D	0.06%	0.0%	0.0%
AON	B	0.16%	0.16%	0.16%
AOS	D	0.02%	0.02%	0.02%
APA	F	0.02%	0.03%	0.02%
APD	B	0.13%	0.02%	0.02%
APH	D	0.16%	0.38%	0.16%
APTV	D	0.04%	0.01%	0.01%
ARE	C	0.04%	0.01%	0.01%
ATO	B	0.04%	0.01%	0.01%
AVB	B	0.07%	0.01%	0.01%
AVGO	C	1.48%	0.11%	0.11%
AVY	C	0.04%	0.03%	0.03%
AWK	B	0.06%	0.01%	0.01%
AXON	B	0.05%	0.0%	0.0%
AXP	B	0.31%	0.06%	0.06%
AZO	D	0.12%	0.29%	0.12%
BA	F	0.2%	0.02%	0.02%
BAC	D	0.57%	0.33%	0.33%
BALL	C	0.04%	0.01%	0.01%
BAX	C	0.04%	0.02%	0.02%
BBWI	F	0.01%	0.0%	0.0%
BBY	C	0.04%	0.06%	0.04%
BDX	D	0.14%	0.08%	0.08%
BEN	F	0.01%	0.01%	0.01%
BG	D	0.03%	0.03%	0.03%
BIIB	F	0.06%	0.02%	0.02%
BIO	C	0.01%	0.0%	0.0%
BK	B	0.11%	0.05%	0.05%
BKNG	C	0.28%	0.02%	0.02%
BKR	C	0.07%	0.02%	0.02%
BLDR	C	0.04%	0.04%	0.04%
BLK	B	0.26%	0.21%	0.21%
BMY	C	0.21%	0.18%	0.18%
BR	D	0.05%	0.04%	0.04%
BRK.A	C	1.76%	0.71%	0.71%
BRO	C	0.05%	0.13%	0.05%
BSX	B	0.26%	0.02%	0.02%
BX	B	0.22%	0.02%	0.02%
BXP	B	0.02%	0.01%	0.01%
C	C	0.23%	0.21%	0.21%
CAG	C	0.03%	0.05%	0.03%
CAH	C	0.06%	0.12%	0.06%
CARR	B	0.13%	0.02%	0.02%
CAT	B	0.35%	0.32%	0.32%
CB	B	0.25%	0.4%	0.25%
CBOE	C	0.05%	0.26%	0.05%
CBRE	A	0.07%	0.03%	0.03%
CCI	C	0.11%	0.02%	0.02%
CCL	C	0.04%	0.0%	0.0%
CDNS	D	0.15%	0.12%	0.12%
CDW	D	0.06%	0.09%	0.06%
CE	F	0.03%	0.01%	0.01%
CEG	C	0.13%	0.01%	0.01%
CF	C	0.03%	0.12%	0.03%
CFG	C	0.04%	0.03%	0.03%
CHD	D	0.05%	0.18%	0.05%
CHRW	B	0.02%	0.01%	0.01%
CHTR	D	0.07%	0.05%	0.05%
CI	C	0.22%	0.2%	0.2%
CINF	B	0.05%	0.02%	0.02%
CL	D	0.19%	0.23%	0.19%
CLX	C	0.04%	0.01%	0.01%
CMCSA	D	0.32%	0.15%	0.15%
CME	C	0.17%	0.16%	0.16%
CMG	C	0.16%	0.13%	0.13%
CMI	C	0.09%	0.08%	0.08%
CMS	C	0.04%	0.05%	0.04%
CNC	D	0.08%	0.06%	0.06%
CNP	C	0.04%	0.01%	0.01%
COF	B	0.11%	0.07%	0.07%
COP	D	0.26%	0.09%	0.09%
COST	B	0.85%	0.76%	0.76%
CPAY	B	0.05%	0.01%	0.01%
CPB	C	0.02%	0.1%	0.02%
CPRT	D	0.09%	0.07%	0.07%
CPT	B	0.03%	0.01%	0.01%
CRL	F	0.02%	0.0%	0.0%
CRM	D	0.52%	0.04%	0.04%
CRWD	D	0.13%	0.0%	0.0%
CSCO	C	0.43%	0.88%	0.43%
CSGP	D	0.07%	0.0%	0.0%
CSX	D	0.14%	0.11%	0.11%
CTAS	B	0.15%	0.14%	0.14%
CTLT	B	0.02%	0.01%	0.01%
CTRA	D	0.04%	0.02%	0.02%
CTSH	C	0.08%	0.2%	0.08%
CTVA	B	0.08%	0.04%	0.04%
CVS	D	0.15%	0.17%	0.15%
CVX	D	0.51%	0.28%	0.28%
D	C	0.1%	0.06%	0.06%
DAL	C	0.06%	0.01%	0.01%
DAY	D	0.02%	0.0%	0.0%
DD	B	0.07%	0.02%	0.02%
DE	B	0.22%	0.06%	0.06%
DECK	C	0.05%	0.04%	0.04%
DFS	B	0.07%	0.03%	0.03%
DG	F	0.04%	0.01%	0.01%
DGX	B	0.04%	0.1%	0.04%
DHI	B	0.12%	0.12%	0.12%
DHR	B	0.38%	0.06%	0.06%
DIS	D	0.34%	0.07%	0.07%
DLR	B	0.11%	0.02%	0.02%
DLTR	F	0.03%	0.01%	0.01%
DOC	C	0.03%	0.01%	0.01%
DOV	B	0.05%	0.04%	0.04%
DOW	D	0.08%	0.04%	0.04%
DPZ	F	0.03%	0.06%	0.03%
DRI	B	0.04%	0.03%	0.03%
DTE	C	0.05%	0.02%	0.02%
DUK	C	0.19%	0.37%	0.19%
DVA	B	0.02%	0.01%	0.01%
DVN	F	0.05%	0.03%	0.03%
DXCM	F	0.06%	0.0%	0.0%
EA	D	0.08%	0.18%	0.08%
EBAY	B	0.07%	0.01%	0.01%
ECL	B	0.14%	0.01%	0.01%
ED	C	0.08%	0.38%	0.08%
EFX	B	0.08%	0.01%	0.01%
EG	C	0.03%	0.06%	0.03%
EIX	C	0.07%	0.03%	0.03%
EL	F	0.04%	0.01%	0.01%
ELV	C	0.27%	0.28%	0.27%
EMN	B	0.03%	0.01%	0.01%
EMR	D	0.12%	0.02%	0.02%
ENPH	D	0.03%	0.03%	0.03%
EOG	D	0.15%	0.05%	0.05%
EPAM	F	0.02%	0.02%	0.02%
EQIX	C	0.18%	0.01%	0.01%
EQR	B	0.06%	0.01%	0.01%
EQT	D	0.04%	0.01%	0.01%
ES	C	0.05%	0.02%	0.02%
ESS	B	0.04%	0.01%	0.01%
ETN	C	0.25%	0.02%	0.02%
ETR	B	0.06%	0.02%	0.02%
EVRG	B	0.03%	0.01%	0.01%
EW	F	0.09%	0.07%	0.07%
EXC	C	0.08%	0.03%	0.03%
EXPD	C	0.04%	0.04%	0.04%
EXPE	C	0.04%	0.01%	0.01%
EXR	B	0.08%	0.01%	0.01%
F	F	0.09%	0.09%	0.09%
FANG	D	0.06%	0.08%	0.06%
FAST	C	0.08%	0.08%	0.08%
FCX	D	0.13%	0.02%	0.02%
FDS	C	0.04%	0.02%	0.02%
FDX	C	0.14%	0.07%	0.07%
FE	C	0.05%	0.01%	0.01%
FFIV	B	0.03%	0.14%	0.03%
FICO	B	0.1%	0.04%	0.04%
FIS	B	0.1%	0.02%	0.02%
FITB	B	0.06%	0.03%	0.03%
FOX	B	0.01%	0.01%	0.01%
FOXA	B	0.02%	0.01%	0.01%
FSLR	C	0.05%	0.01%	0.01%
FTNT	C	0.1%	0.01%	0.01%
FTV	C	0.05%	0.01%	0.01%
GD	B	0.15%	0.19%	0.15%
GDDY	C	0.05%	0.21%	0.05%
GE	B	0.39%	0.29%	0.29%
GEHC	C	0.08%	0.02%	0.02%
GEV	B	0.12%	0.02%	0.02%
GILD	B	0.22%	0.22%	0.22%
GIS	B	0.09%	0.38%	0.09%
GLW	C	0.07%	0.02%	0.02%
GM	C	0.11%	0.15%	0.11%
GOOG	D	1.59%	0.83%	0.83%
GOOGL	D	1.9%	0.95%	0.95%
GPC	D	0.04%	0.06%	0.04%
GPN	D	0.06%	0.02%	0.02%
GRMN	D	0.06%	0.05%	0.05%
GS	C	0.33%	0.14%	0.14%
GWW	B	0.09%	0.1%	0.09%
HAL	F	0.05%	0.01%	0.01%
HBAN	B	0.04%	0.03%	0.03%
HCA	B	0.16%	0.04%	0.04%
HD	B	0.79%	0.14%	0.14%
HES	F	0.07%	0.01%	0.01%
HIG	B	0.07%	0.03%	0.03%
HII	D	0.02%	0.01%	0.01%
HLT	B	0.11%	0.01%	0.01%
HOLX	B	0.04%	0.01%	0.01%
HON	D	0.28%	0.24%	0.24%
HPE	D	0.05%	0.03%	0.03%
HPQ	D	0.06%	0.04%	0.04%
HRL	C	0.02%	0.1%	0.02%
HSIC	C	0.02%	0.01%	0.01%
HST	C	0.03%	0.01%	0.01%
HSY	C	0.06%	0.18%	0.06%
HUBB	B	0.05%	0.03%	0.03%
HUM	F	0.08%	0.18%	0.08%
HWM	B	0.08%	0.01%	0.01%
IBM	B	0.41%	0.48%	0.41%
ICE	C	0.2%	0.03%	0.03%
IDXX	C	0.09%	0.09%	0.09%
IEX	D	0.03%	0.02%	0.02%
IFF	B	0.06%	0.01%	0.01%
INCY	C	0.02%	0.12%	0.02%
INTC	F	0.18%	0.08%	0.08%
INTU	C	0.39%	0.25%	0.25%
INVH	C	0.04%	0.01%	0.01%
IP	B	0.03%	0.02%	0.02%
IPG	C	0.03%	0.02%	0.02%
IQV	C	0.09%	0.01%	0.01%
IR	C	0.08%	0.01%	0.01%
IRM	C	0.07%	0.01%	0.01%
ISRG	B	0.37%	0.24%	0.24%
IT	B	0.08%	0.03%	0.03%
ITW	C	0.14%	0.12%	0.12%
J	C	0.04%	0.01%	0.01%
JBHT	D	0.03%	0.03%	0.03%
JBL	D	0.03%	0.01%	0.01%
JCI	B	0.1%	0.02%	0.02%
JKHY	B	0.03%	0.06%	0.03%
JNJ	C	0.85%	1.19%	0.85%
JNPR	B	0.03%	0.13%	0.03%
JPM	D	1.27%	0.52%	0.52%
K	B	0.05%	0.23%	0.05%
KDP	B	0.08%	0.16%	0.08%
KEY	B	0.03%	0.02%	0.02%
KEYS	C	0.06%	0.17%	0.06%
KHC	C	0.06%	0.22%	0.06%
KIM	C	0.03%	0.01%	0.01%
KKR	B	0.17%	0.02%	0.02%
KLAC	D	0.22%	0.18%	0.18%
KMB	D	0.1%	0.12%	0.1%
KMI	B	0.09%	0.03%	0.03%
KMX	D	0.03%	0.01%	0.01%
KO	C	0.59%	0.65%	0.59%
KR	C	0.07%	0.28%	0.07%
KVUE	C	0.09%	0.08%	0.08%
L	C	0.03%	0.16%	0.03%
LDOS	B	0.04%	0.01%	0.01%
LEN	B	0.09%	0.09%	0.09%
LHX	C	0.09%	0.02%	0.02%
LIN	B	0.48%	0.06%	0.06%
LKQ	F	0.02%	0.01%	0.01%
LLY	C	1.57%	1.42%	1.42%
LMT	C	0.26%	0.45%	0.26%
LNT	B	0.03%	0.03%	0.03%
LOW	B	0.3%	0.07%	0.07%
LRCX	F	0.21%	0.2%	0.2%
LULU	D	0.06%	0.06%	0.06%
LUV	C	0.04%	0.0%	0.0%
LVS	D	0.03%	0.0%	0.0%
LW	D	0.02%	0.0%	0.0%
LYB	D	0.05%	0.03%	0.03%
LYV	B	0.03%	0.0%	0.0%
MA	B	0.86%	0.67%	0.67%
MAA	B	0.04%	0.01%	0.01%
MAR	C	0.12%	0.01%	0.01%
MAS	B	0.04%	0.01%	0.01%
MCD	B	0.45%	0.42%	0.42%
MCHP	F	0.09%	0.07%	0.07%
MCK	F	0.14%	0.49%	0.14%
MCO	B	0.16%	0.13%	0.13%
MDLZ	B	0.21%	0.17%	0.17%
MDT	C	0.26%	0.06%	0.06%
MET	B	0.1%	0.04%	0.04%
META	B	2.4%	1.96%	1.96%
MGM	F	0.02%	0.01%	0.01%
MKC	C	0.04%	0.01%	0.01%
MKTX	C	0.02%	0.02%	0.02%
MLM	D	0.07%	0.01%	0.01%
MMC	C	0.24%	0.53%	0.24%
MMM	B	0.15%	0.14%	0.14%
MNST	D	0.08%	0.06%	0.06%
MO	C	0.2%	0.04%	0.04%
MOH	D	0.04%	0.07%	0.04%
MOS	F	0.02%	0.02%	0.02%
MPC	F	0.12%	0.18%	0.12%
MPWR	C	0.09%	0.06%	0.06%
MRK	D	0.62%	0.51%	0.51%
MRNA	F	0.06%	0.02%	0.02%
MRO	C	0.03%	0.02%	0.02%
MS	D	0.26%	0.09%	0.09%
MSCI	C	0.1%	0.0%	0.0%
MSFT	C	6.73%	2.36%	2.36%
MSI	B	0.15%	0.58%	0.15%
MTB	B	0.06%	0.04%	0.04%
MTCH	C	0.02%	0.0%	0.0%
MU	F	0.21%	0.04%	0.04%
NDAQ	A	0.06%	0.01%	0.01%
NDSN	C	0.03%	0.02%	0.02%
NEE	C	0.37%	0.06%	0.06%
NEM	B	0.13%	0.04%	0.04%
NFLX	B	0.63%	0.45%	0.45%
NI	B	0.03%	0.01%	0.01%
NKE	D	0.2%	0.17%	0.17%
NOC	B	0.15%	0.33%	0.15%
NOW	B	0.38%	0.01%	0.01%
NRG	C	0.04%	0.01%	0.01%
NSC	C	0.12%	0.03%	0.03%
NTAP	D	0.05%	0.04%	0.04%
NTRS	A	0.04%	0.01%	0.01%
NUE	F	0.07%	0.04%	0.04%
NVDA	D	6.15%	2.1%	2.1%
NVR	B	0.06%	0.07%	0.06%
NWSA	D	0.02%	0.01%	0.01%
NXPI	F	0.13%	0.02%	0.02%
O	C	0.12%	0.03%	0.03%
ODFL	D	0.07%	0.07%	0.07%
OKE	B	0.11%	0.03%	0.03%
OMC	B	0.04%	0.04%	0.04%
ON	D	0.06%	0.01%	0.01%
ORCL	C	0.54%	0.22%	0.22%
ORLY	C	0.14%	0.22%	0.14%
OTIS	C	0.08%	0.01%	0.01%
OXY	F	0.07%	0.03%	0.03%
PANW	D	0.24%	0.16%	0.16%
PARA	F	0.01%	0.01%	0.01%
PAYC	D	0.02%	0.02%	0.02%
PAYX	C	0.09%	0.09%	0.09%
PCAR	D	0.11%	0.09%	0.09%
PCG	C	0.09%	0.03%	0.03%
PEG	B	0.09%	0.02%	0.02%
PEP	C	0.52%	0.86%	0.52%
PFE	C	0.36%	0.21%	0.21%
PFG	B	0.04%	0.02%	0.02%
PG	C	0.88%	0.98%	0.88%
PGR	B	0.31%	0.34%	0.31%
PH	B	0.16%	0.02%	0.02%
PHM	B	0.06%	0.06%	0.06%
PKG	B	0.04%	0.03%	0.03%
PLD	C	0.26%	0.05%	0.05%
PM	C	0.42%	0.07%	0.07%
PNC	B	0.15%	0.08%	0.08%
PNR	B	0.03%	0.02%	0.02%
PODD	B	0.03%	0.0%	0.0%
POOL	C	0.03%	0.03%	0.03%
PPG	D	0.06%	0.01%	0.01%
PPL	C	0.05%	0.01%	0.01%
PRU	C	0.09%	0.04%	0.04%
PSA	B	0.12%	0.09%	0.09%
PSX	F	0.11%	0.13%	0.11%
PTC	D	0.04%	0.07%	0.04%
PWR	B	0.08%	0.01%	0.01%
PYPL	B	0.16%	0.04%	0.04%
QCOM	D	0.4%	0.34%	0.34%
QRVO	F	0.02%	0.01%	0.01%
RCL	B	0.08%	0.0%	0.0%
REG	C	0.03%	0.01%	0.01%
REGN	C	0.26%	0.47%	0.26%
RF	B	0.04%	0.03%	0.03%
RJF	C	0.05%	0.01%	0.01%
RMD	C	0.08%	0.06%	0.06%
ROK	D	0.06%	0.05%	0.05%
ROL	C	0.03%	0.08%	0.03%
ROP	C	0.13%	0.49%	0.13%
ROST	C	0.11%	0.02%	0.02%
RSG	D	0.09%	0.46%	0.09%
RTX	C	0.34%	0.09%	0.09%
SBAC	C	0.06%	0.01%	0.01%
SBUX	C	0.24%	0.04%	0.04%
SCHW	D	0.2%	0.03%	0.03%
SHW	B	0.19%	0.14%	0.14%
SJM	C	0.03%	0.08%	0.03%
SLB	F	0.12%	0.03%	0.03%
SMCI	F	0.05%	0.03%	0.03%
SNA	C	0.03%	0.03%	0.03%
SNPS	D	0.16%	0.11%	0.11%
SO	B	0.21%	0.47%	0.21%
SOLV	C	0.02%	0.03%	0.02%
SPG	B	0.11%	0.02%	0.02%
SPGI	B	0.35%	0.04%	0.04%
SRE	C	0.11%	0.03%	0.03%
STE	C	0.05%	0.01%	0.01%
STLD	F	0.03%	0.02%	0.02%
STT	A	0.05%	0.03%	0.03%
STX	C	0.04%	0.01%	0.01%
STZ	D	0.09%	0.01%	0.01%
SW	B	0.05%	0.02%	0.02%
SWK	B	0.03%	0.01%	0.01%
SWKS	D	0.03%	0.03%	0.03%
SYF	C	0.04%	0.03%	0.03%
SYK	C	0.27%	0.03%	0.03%
SYY	D	0.08%	0.03%	0.03%
T	C	0.33%	0.37%	0.33%
TAP	D	0.02%	0.01%	0.01%
TDG	B	0.16%	0.01%	0.01%
TDY	B	0.04%	0.05%	0.04%
TECH	C	0.02%	0.0%	0.0%
TEL	D	0.09%	0.08%	0.08%
TER	D	0.04%	0.03%	0.03%
TFC	C	0.12%	0.08%	0.08%
TFX	C	0.02%	0.01%	0.01%
TGT	C	0.15%	0.14%	0.14%
TJX	B	0.29%	0.35%	0.29%
TMO	B	0.51%	0.07%	0.07%
TMUS	C	0.22%	0.64%	0.22%
TRGP	B	0.07%	0.03%	0.03%
TRMB	C	0.03%	0.0%	0.0%
TROW	D	0.05%	0.05%	0.05%
TRV	C	0.11%	0.27%	0.11%
TSCO	C	0.06%	0.05%	0.05%
TSLA	C	1.35%	0.11%	0.11%
TSN	C	0.04%	0.14%	0.04%
TT	B	0.17%	0.13%	0.13%
TTWO	C	0.05%	0.01%	0.01%
TXN	C	0.39%	0.49%	0.39%
TXT	D	0.04%	0.01%	0.01%
TYL	C	0.05%	0.0%	0.0%
UBER	C	0.31%	0.01%	0.01%
UDR	C	0.03%	0.0%	0.0%
UHS	B	0.03%	0.01%	0.01%
ULTA	D	0.04%	0.07%	0.04%
UNH	C	1.16%	1.36%	1.16%
UNP	C	0.32%	0.28%	0.28%
UPS	D	0.2%	0.07%	0.07%
URI	B	0.1%	0.02%	0.02%
USB	B	0.15%	0.08%	0.08%
V	C	0.96%	1.12%	0.96%
VICI	C	0.07%	0.02%	0.02%
VLO	F	0.09%	0.07%	0.07%
VLTO	C	0.05%	0.05%	0.05%
VMC	D	0.07%	0.01%	0.01%
VRSK	D	0.08%	0.01%	0.01%
VRSN	D	0.03%	0.14%	0.03%
VRTX	D	0.26%	0.44%	0.26%
VST	C	0.06%	0.01%	0.01%
VTR	C	0.06%	0.01%	0.01%
VTRS	D	0.03%	0.03%	0.03%
VZ	B	0.39%	0.61%	0.39%
WAB	B	0.06%	0.01%	0.01%
WAT	C	0.04%	0.04%	0.04%
WBA	F	0.01%	0.04%	0.01%
WBD	D	0.03%	0.05%	0.03%
WDC	D	0.04%	0.01%	0.01%
WEC	C	0.06%	0.2%	0.06%
WELL	C	0.16%	0.02%	0.02%
WFC	D	0.4%	0.2%	0.2%
WM	D	0.16%	0.5%	0.16%
WMB	B	0.12%	0.15%	0.12%
WMT	C	0.72%	0.72%	0.72%
WRB	C	0.04%	0.14%	0.04%
WST	D	0.05%	0.03%	0.03%
WTW	C	0.06%	0.07%	0.06%
WY	C	0.05%	0.02%	0.02%
WYNN	D	0.02%	0.0%	0.0%
XEL	B	0.08%	0.08%	0.08%
XOM	C	1.05%	0.44%	0.44%
XYL	C	0.07%	0.01%	0.01%
YUM	D	0.08%	0.15%	0.08%
ZBH	F	0.05%	0.01%	0.01%
ZBRA	B	0.04%	0.01%	0.01%
ZTS	C	0.18%	0.16%	0.16%

SPY Overweight 18 Positions Relative to QWLD

Symbol	Grade	Weight
MTD	D	0.06%
UAL	C	0.03%
AAL	D	0.02%
IVZ	B	0.02%
BWA	D	0.02%
MHK	C	0.02%
CZR	C	0.02%
FMC	C	0.02%
NCLH	C	0.02%
FRT	C	0.02%
HAS	B	0.02%
GL	C	0.02%
GNRC	D	0.02%
TPR	C	0.02%
PNW	C	0.02%
NWS	D	0.01%
ETSY	F	0.01%
RL	C	0.01%

SPY Underweight 126 Positions Relative to QWLD

Symbol	Grade	Weight
NVS	C	-0.89%
UL	C	-0.3%
WCN	D	-0.28%
MFG	D	-0.2%
CHKP	B	-0.19%
ERIE	B	-0.15%
BAH	C	-0.15%
TD	B	-0.14%
UTHR	C	-0.14%
TM	F	-0.14%
E	C	-0.13%
MKL	C	-0.12%
DEO	C	-0.12%
MUFG	D	-0.12%
CNI	D	-0.11%
NBIX	F	-0.11%
BCS	B	-0.1%
SMFG	D	-0.09%
STLA	F	-0.09%
LYG	B	-0.09%
BMRN	F	-0.09%
FCNCA	D	-0.09%
HMC	D	-0.08%
SONY	C	-0.08%
LOGI	D	-0.06%
LNG	C	-0.05%
VEEV	C	-0.05%
BTI	C	-0.05%
DINO	F	-0.05%
WSM	D	-0.04%
MANH	B	-0.04%
WDAY	D	-0.04%
MT	D	-0.04%
OC	D	-0.03%
CSL	B	-0.03%
WSO	C	-0.03%
LPLA	D	-0.03%
TPL	B	-0.03%
EME	B	-0.03%
NMR	D	-0.02%
CHK	D	-0.02%
ACI	F	-0.02%
TTC	D	-0.02%
OVV	F	-0.02%
AER	B	-0.02%
AFG	B	-0.02%
GGG	C	-0.02%
DKS	D	-0.02%
AMH	C	-0.01%
OTEX	D	-0.01%
RPM	B	-0.01%
WTRG	D	-0.01%
UHAL	A	-0.01%
CG	D	-0.01%
RPRX	C	-0.01%
GLPI	C	-0.01%
TRU	B	-0.01%
BURL	B	-0.01%
MBAVU	C	-0.01%
ZM	C	-0.01%
ACM	B	-0.01%
SUI	B	-0.01%
SE	B	-0.01%
WPC	C	-0.01%
CCEP	B	-0.01%
AVTR	B	-0.01%
CCK	A	-0.01%
AGCO	D	-0.01%
CHRD	F	-0.01%
KNX	C	-0.01%
WFG	B	-0.01%
SSNC	B	-0.01%
EQH	C	-0.01%
MRVL	C	-0.01%
DELL	D	-0.01%
APO	C	-0.01%
CRBG	D	-0.01%
BSY	D	-0.01%
FNF	B	-0.01%
SQ	D	-0.01%
ALLY	F	-0.01%
SEIC	C	-0.01%
CNH	D	-0.01%
RS	D	-0.01%
MELI	B	-0.01%
GLBE	C	-0.0%
IOT	B	-0.0%
TOST	C	-0.0%
NET	D	-0.0%
RBLX	B	-0.0%
XRX	D	-0.0%
DDOG	D	-0.0%
SNAP	F	-0.0%
FUTU	D	-0.0%
DKNG	C	-0.0%
MSTR	D	-0.0%
H	C	-0.0%
PSTG	F	-0.0%
DOCU	C	-0.0%
HEI	B	-0.0%
GRAB	C	-0.0%
APP	C	-0.0%
DT	C	-0.0%
PINS	F	-0.0%
SNOW	F	-0.0%
HOOD	C	-0.0%
ROKU	C	-0.0%
OKTA	F	-0.0%
TTD	B	-0.0%
EXAS	C	-0.0%
LII	B	-0.0%
Z	B	-0.0%
TW	B	-0.0%
PLTR	B	-0.0%
VRT	C	-0.0%
HEI	B	-0.0%
ELS	C	-0.0%
ENTG	F	-0.0%
DASH	C	-0.0%
COIN	F	-0.0%
WLK	D	-0.0%
ILMN	C	-0.0%
RIVN	F	-0.0%
ARES	B	-0.0%
QGEN	C	-0.0%
TWLO	D	-0.0%