SSPY vs. IUSV ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to iShares Core U.S. Vaue ETF (IUSV)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$80.97

Average Daily Volume

2,893

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

IUSV

iShares Core U.S. Vaue ETF

IUSV Description

The investment seeks to track the investment results of a broad-based index composed of U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell 3000 Value Index (the "underlying index"), which measures the performance of the value sector of the broad U.S. equity market.

Grade (RS Rating)

Last Trade

$97.42

Average Daily Volume

518,446

Number of Holdings ^*

728

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	IUSV
30 Days	1.37%	1.10%
60 Days	2.17%	4.64%
90 Days	4.55%	7.17%
12 Months	23.68%	27.66%

434 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in IUSV	Overlap
A	F	0.15%	0.18%	0.15%
ABBV	D	0.24%	0.97%	0.24%
ABNB	C	0.12%	0.14%	0.12%
ABT	C	0.06%	0.87%	0.06%
ACN	C	0.13%	0.45%	0.13%
ADI	F	0.22%	0.2%	0.2%
ADM	F	0.37%	0.11%	0.11%
ADP	A	0.21%	0.33%	0.21%
ADSK	A	0.17%	0.14%	0.14%
AEE	A	0.08%	0.1%	0.08%
AEP	D	0.24%	0.22%	0.22%
AES	F	0.32%	0.04%	0.04%
AFL	C	0.2%	0.24%	0.2%
AIG	B	0.2%	0.21%	0.2%
AIZ	A	0.2%	0.05%	0.05%
AJG	A	0.03%	0.14%	0.03%
AKAM	F	0.27%	0.04%	0.04%
ALB	B	0.05%	0.05%	0.05%
ALGN	F	0.1%	0.03%	0.03%
ALL	A	0.2%	0.22%	0.2%
ALLE	D	0.08%	0.03%	0.03%
AMCR	D	0.13%	0.06%	0.06%
AME	A	0.13%	0.1%	0.1%
AMGN	F	0.24%	0.75%	0.24%
AMP	A	0.08%	0.11%	0.08%
AMT	F	0.06%	0.24%	0.06%
ANSS	B	0.17%	0.06%	0.06%
AON	A	0.04%	0.18%	0.04%
AOS	F	0.21%	0.02%	0.02%
APD	B	0.05%	0.3%	0.05%
APH	B	0.19%	0.17%	0.17%
APTV	D	0.4%	0.06%	0.06%
ARE	F	0.11%	0.08%	0.08%
ATO	A	0.33%	0.1%	0.1%
AVB	A	0.1%	0.14%	0.1%
AVY	F	0.06%	0.07%	0.06%
AWK	D	0.32%	0.11%	0.11%
AXP	B	0.04%	0.21%	0.04%
AZO	C	0.14%	0.07%	0.07%
BA	F	0.16%	0.27%	0.16%
BAC	A	0.12%	1.32%	0.12%
BALL	D	0.13%	0.08%	0.08%
BAX	F	0.05%	0.08%	0.05%
BBY	D	0.17%	0.08%	0.08%
BDX	D	0.05%	0.29%	0.05%
BEN	C	0.09%	0.03%	0.03%
BG	D	0.37%	0.05%	0.05%
BIIB	F	0.24%	0.11%	0.11%
BK	B	0.11%	0.25%	0.11%
BKR	B	0.35%	0.19%	0.19%
BLK	B	0.08%	0.63%	0.08%
BMY	B	0.25%	0.48%	0.25%
BR	A	0.11%	0.05%	0.05%
BRK.A	B	0.5%	3.67%	0.5%
BRO	A	0.04%	0.03%	0.03%
BSX	A	0.06%	0.25%	0.06%
BWA	B	0.42%	0.03%	0.03%
BX	A	0.08%	0.16%	0.08%
BXP	D	0.11%	0.05%	0.05%
C	A	0.13%	0.57%	0.13%
CAG	F	0.21%	0.06%	0.06%
CAH	A	0.19%	0.13%	0.13%
CARR	C	0.08%	0.14%	0.08%
CAT	C	0.14%	0.36%	0.14%
CB	C	0.14%	0.46%	0.14%
CBOE	D	0.04%	0.03%	0.03%
CBRE	A	0.04%	0.17%	0.04%
CCI	F	0.06%	0.2%	0.06%
CCL	A	0.09%	0.03%	0.03%
CDW	F	0.13%	0.07%	0.07%
CEG	D	0.38%	0.18%	0.18%
CF	B	0.09%	0.03%	0.03%
CFG	B	0.06%	0.09%	0.06%
CHD	B	0.42%	0.06%	0.06%
CHRW	A	0.09%	0.06%	0.06%
CHTR	B	0.47%	0.09%	0.09%
CI	D	0.19%	0.39%	0.19%
CINF	A	0.14%	0.1%	0.1%
CL	F	0.41%	0.2%	0.2%
CLX	A	0.41%	0.09%	0.09%
CMCSA	B	0.52%	0.74%	0.52%
CME	A	0.04%	0.22%	0.04%
CMI	A	0.08%	0.21%	0.08%
CMS	C	0.08%	0.09%	0.08%
CNC	F	0.26%	0.14%	0.14%
CNP	B	0.26%	0.08%	0.08%
COF	B	0.7%	0.31%	0.31%
COP	C	0.07%	0.18%	0.07%
COR	A	0.18%	0.19%	0.18%
COST	B	0.71%	1.02%	0.71%
CPB	F	0.2%	0.04%	0.04%
CPT	C	0.11%	0.05%	0.05%
CRL	C	0.14%	0.05%	0.05%
CSCO	A	0.21%	1.02%	0.21%
CSGP	D	0.04%	0.08%	0.04%
CSX	B	0.08%	0.15%	0.08%
CTAS	A	0.18%	0.15%	0.15%
CTLT	D	0.25%	0.05%	0.05%
CTRA	B	0.17%	0.03%	0.03%
CTSH	A	0.13%	0.18%	0.13%
CTVA	C	0.08%	0.18%	0.08%
CVS	F	0.69%	0.31%	0.31%
CVX	B	0.76%	1.16%	0.76%
CZR	F	0.07%	0.02%	0.02%
D	D	0.24%	0.21%	0.21%
DAL	A	0.28%	0.08%	0.08%
DAY	C	0.22%	0.02%	0.02%
DD	D	0.05%	0.16%	0.05%
DE	D	0.13%	0.2%	0.13%
DELL	B	0.17%	0.08%	0.08%
DFS	B	0.69%	0.09%	0.09%
DG	F	0.17%	0.07%	0.07%
DGX	A	0.16%	0.08%	0.08%
DHR	F	0.1%	0.69%	0.1%
DIS	B	0.21%	0.78%	0.21%
DLR	C	0.26%	0.14%	0.14%
DLTR	F	0.17%	0.06%	0.06%
DOC	C	0.11%	0.07%	0.07%
DOV	A	0.17%	0.12%	0.12%
DOW	F	0.07%	0.15%	0.07%
DPZ	C	0.52%	0.04%	0.04%
DRI	B	0.51%	0.04%	0.04%
DTE	D	0.25%	0.11%	0.11%
DUK	D	0.07%	0.37%	0.07%
DVA	C	0.11%	0.01%	0.01%
DVN	F	0.16%	0.11%	0.11%
DXCM	C	0.1%	0.05%	0.05%
EA	A	0.49%	0.09%	0.09%
EBAY	C	0.22%	0.13%	0.13%
ECL	C	0.05%	0.13%	0.05%
ED	D	0.24%	0.15%	0.15%
EFX	D	0.04%	0.09%	0.04%
EG	D	0.14%	0.07%	0.07%
EIX	C	0.25%	0.14%	0.14%
EL	F	0.5%	0.07%	0.07%
ELV	F	0.24%	0.43%	0.24%
EMN	D	0.05%	0.05%	0.05%
EMR	A	0.03%	0.32%	0.03%
ENPH	F	0.26%	0.03%	0.03%
EOG	A	0.07%	0.11%	0.07%
EPAM	B	0.13%	0.03%	0.03%
EQIX	B	0.27%	0.2%	0.2%
EQR	C	0.1%	0.11%	0.1%
EQT	B	0.18%	0.11%	0.11%
ERIE	F	0.2%	0.02%	0.02%
ES	D	0.07%	0.09%	0.07%
ESS	C	0.1%	0.08%	0.08%
ETN	A	0.26%	0.24%	0.24%
ETR	B	0.25%	0.14%	0.14%
EVRG	A	0.08%	0.06%	0.06%
EW	D	0.06%	0.11%	0.06%
EXC	C	0.3%	0.17%	0.17%
EXPD	D	0.09%	0.05%	0.05%
EXR	D	0.11%	0.15%	0.11%
F	C	0.25%	0.19%	0.19%
FAST	A	0.13%	0.1%	0.1%
FCX	F	0.3%	0.15%	0.15%
FDS	A	0.04%	0.04%	0.04%
FDX	B	0.07%	0.28%	0.07%
FE	D	0.24%	0.09%	0.09%
FFIV	A	0.21%	0.06%	0.06%
FI	A	0.06%	0.25%	0.06%
FIS	B	0.05%	0.21%	0.05%
FITB	A	0.06%	0.14%	0.06%
FMC	F	0.09%	0.03%	0.03%
FOX	A	0.1%	0.02%	0.02%
FOXA	A	0.1%	0.04%	0.04%
FRT	C	0.06%	0.04%	0.04%
FSLR	F	0.2%	0.09%	0.09%
GD	A	0.16%	0.34%	0.16%
GE	C	0.17%	0.48%	0.17%
GEHC	F	0.1%	0.18%	0.1%
GEN	A	0.17%	0.07%	0.07%
GEV	B	0.18%	0.23%	0.18%
GILD	C	0.25%	0.53%	0.25%
GIS	F	0.21%	0.16%	0.16%
GL	B	0.2%	0.04%	0.04%
GLW	C	0.19%	0.16%	0.16%
GM	A	0.25%	0.27%	0.25%
GNRC	B	0.08%	0.02%	0.02%
GPC	D	0.15%	0.07%	0.07%
GPN	B	0.04%	0.13%	0.04%
GRMN	A	0.33%	0.07%	0.07%
GS	B	0.25%	0.8%	0.25%
GWW	B	0.12%	0.06%	0.06%
HAL	C	0.34%	0.11%	0.11%
HAS	D	0.26%	0.04%	0.04%
HBAN	B	0.06%	0.11%	0.06%
HCA	D	0.33%	0.15%	0.15%
HD	B	0.26%	1.09%	0.26%
HIG	C	0.14%	0.15%	0.14%
HII	D	0.08%	0.03%	0.03%
HOLX	D	0.1%	0.08%	0.08%
HON	B	0.17%	0.62%	0.17%
HPE	B	0.19%	0.12%	0.12%
HPQ	B	0.35%	0.16%	0.16%
HRL	F	0.36%	0.04%	0.04%
HSIC	F	0.2%	0.04%	0.04%
HST	C	0.11%	0.02%	0.02%
HSY	D	0.18%	0.07%	0.07%
HUBB	B	0.26%	0.06%	0.06%
HUM	D	0.26%	0.15%	0.15%
HWM	A	0.08%	0.08%	0.08%
IBM	C	0.34%	0.86%	0.34%
ICE	D	0.04%	0.39%	0.04%
IDXX	D	0.1%	0.07%	0.07%
IEX	B	0.2%	0.08%	0.08%
IFF	F	0.05%	0.1%	0.05%
INCY	B	0.25%	0.06%	0.06%
INTC	C	0.16%	0.49%	0.16%
INVH	D	0.1%	0.08%	0.08%
IP	C	0.06%	0.09%	0.06%
IPG	F	0.34%	0.05%	0.05%
IQV	F	0.14%	0.1%	0.1%
IR	A	0.2%	0.04%	0.04%
IRM	D	0.06%	0.07%	0.06%
ISRG	A	0.12%	0.28%	0.12%
ITW	A	0.17%	0.17%	0.17%
IVZ	C	0.09%	0.04%	0.04%
J	B	0.4%	0.08%	0.08%
JBHT	B	0.08%	0.07%	0.07%
JBL	C	0.38%	0.03%	0.03%
JCI	A	0.08%	0.24%	0.08%
JKHY	C	0.05%	0.06%	0.05%
JNJ	D	0.24%	1.64%	0.24%
JNPR	D	0.2%	0.06%	0.06%
JPM	B	0.13%	2.93%	0.13%
K	A	0.18%	0.09%	0.09%
KDP	D	0.24%	0.16%	0.16%
KEY	B	0.06%	0.08%	0.06%
KEYS	C	0.21%	0.13%	0.13%
KHC	F	0.21%	0.13%	0.13%
KIM	A	0.06%	0.07%	0.06%
KMB	F	0.42%	0.19%	0.19%
KMI	B	0.25%	0.22%	0.22%
KMX	C	0.14%	0.05%	0.05%
KO	F	0.25%	0.66%	0.25%
KR	A	0.74%	0.17%	0.17%
KVUE	B	0.42%	0.19%	0.19%
L	A	0.49%	0.07%	0.07%
LDOS	B	0.13%	0.11%	0.11%
LEN	D	0.25%	0.08%	0.08%
LH	A	0.16%	0.09%	0.09%
LHX	A	0.08%	0.21%	0.08%
LIN	D	0.04%	0.47%	0.04%
LKQ	D	0.14%	0.04%	0.04%
LMT	C	0.09%	0.51%	0.09%
LNT	C	0.08%	0.06%	0.06%
LOW	B	0.26%	0.66%	0.26%
LUV	B	0.25%	0.08%	0.08%
LVS	C	0.08%	0.03%	0.03%
LW	C	0.22%	0.02%	0.02%
LYB	F	0.07%	0.1%	0.07%
MA	B	0.04%	0.52%	0.04%
MAA	C	0.1%	0.08%	0.08%
MAS	D	0.19%	0.04%	0.04%
MCD	C	0.5%	0.52%	0.5%
MCHP	F	0.14%	0.07%	0.07%
MCK	A	0.18%	0.34%	0.18%
MCO	C	0.04%	0.17%	0.04%
MDLZ	F	0.18%	0.22%	0.18%
MDT	D	0.06%	0.49%	0.06%
MET	C	0.21%	0.21%	0.21%
MGM	D	0.07%	0.01%	0.01%
MHK	D	0.19%	0.03%	0.03%
MKC	D	0.21%	0.08%	0.08%
MKTX	C	0.04%	0.05%	0.04%
MLM	B	0.17%	0.06%	0.06%
MMC	C	0.04%	0.23%	0.04%
MMM	C	0.17%	0.32%	0.17%
MNST	B	0.25%	0.07%	0.07%
MO	A	0.35%	0.4%	0.35%
MOH	F	0.25%	0.04%	0.04%
MOS	D	0.08%	0.04%	0.04%
MPC	D	0.49%	0.1%	0.1%
MRK	F	0.24%	0.67%	0.24%
MRNA	F	0.24%	0.07%	0.07%
MRO	B	0.07%	0.03%	0.03%
MS	A	0.26%	0.7%	0.26%
MSCI	B	0.04%	0.09%	0.04%
MSI	B	0.49%	0.14%	0.14%
MTB	B	0.06%	0.15%	0.06%
MTCH	F	0.47%	0.04%	0.04%
MTD	F	0.15%	0.08%	0.08%
MU	D	0.15%	0.55%	0.15%
NDAQ	A	0.04%	0.14%	0.04%
NDSN	B	0.03%	0.06%	0.03%
NEE	D	0.24%	0.67%	0.24%
NEM	F	0.25%	0.23%	0.23%
NI	A	0.33%	0.07%	0.07%
NKE	F	0.33%	0.23%	0.23%
NOC	C	0.09%	0.31%	0.09%
NRG	B	0.33%	0.09%	0.09%
NSC	B	0.08%	0.27%	0.08%
NTAP	D	0.17%	0.07%	0.07%
NTRS	A	0.08%	0.09%	0.08%
NUE	C	0.26%	0.06%	0.06%
NWS	B	0.1%	0.02%	0.02%
NWSA	B	0.1%	0.05%	0.05%
NXPI	F	0.23%	0.07%	0.07%
O	D	0.07%	0.21%	0.07%
OKE	A	0.24%	0.1%	0.1%
OMC	B	0.34%	0.09%	0.09%
ON	F	0.23%	0.08%	0.08%
ORLY	A	0.14%	0.08%	0.08%
OTIS	C	0.08%	0.11%	0.08%
OXY	D	0.07%	0.15%	0.07%
PARA	C	0.2%	0.03%	0.03%
PAYC	B	0.22%	0.03%	0.03%
PAYX	B	0.21%	0.12%	0.12%
PCAR	B	0.13%	0.07%	0.07%
PCG	A	0.08%	0.19%	0.08%
PEG	C	0.26%	0.18%	0.18%
PEP	D	0.18%	0.63%	0.18%
PFE	F	0.24%	0.68%	0.24%
PFG	C	0.21%	0.08%	0.08%
PG	C	0.42%	1.02%	0.42%
PGR	A	0.19%	0.33%	0.19%
PH	A	0.08%	0.08%	0.08%
PKG	B	0.06%	0.09%	0.06%
PLD	D	0.06%	0.46%	0.06%
PM	C	0.35%	0.53%	0.35%
PNC	B	0.06%	0.35%	0.06%
PNR	A	0.19%	0.02%	0.02%
PNW	B	0.07%	0.04%	0.04%
PODD	B	0.1%	0.05%	0.05%
POOL	D	0.13%	0.03%	0.03%
PPG	F	0.07%	0.13%	0.07%
PPL	A	0.08%	0.1%	0.08%
PRU	B	0.2%	0.19%	0.19%
PSA	C	0.11%	0.13%	0.11%
PSX	D	0.51%	0.23%	0.23%
PTC	B	0.17%	0.04%	0.04%
PWR	B	0.4%	0.06%	0.06%
PYPL	A	0.06%	0.36%	0.06%
QCOM	F	0.22%	0.4%	0.22%
QRVO	F	0.21%	0.03%	0.03%
REG	A	0.06%	0.05%	0.05%
REGN	F	0.22%	0.15%	0.15%
RF	B	0.06%	0.1%	0.06%
RJF	A	0.25%	0.13%	0.13%
RL	B	0.32%	0.02%	0.02%
RMD	C	0.09%	0.16%	0.09%
ROK	B	0.03%	0.07%	0.03%
ROL	B	0.18%	0.03%	0.03%
ROP	A	0.03%	0.15%	0.03%
RSG	A	0.18%	0.08%	0.08%
RTX	C	0.08%	0.7%	0.08%
RVTY	C	0.1%	0.07%	0.07%
SBAC	D	0.06%	0.06%	0.06%
SBUX	B	0.48%	0.19%	0.19%
SCHW	A	0.25%	0.48%	0.25%
SHW	A	0.06%	0.19%	0.06%
SJM	F	0.21%	0.05%	0.05%
SLB	C	0.35%	0.27%	0.27%
SNA	A	0.25%	0.04%	0.04%
SO	D	0.08%	0.41%	0.08%
SOLV	D	0.05%	0.05%	0.05%
SPG	B	0.07%	0.15%	0.07%
SPGI	C	0.04%	0.39%	0.04%
SRE	A	0.08%	0.25%	0.08%
STE	F	0.12%	0.04%	0.04%
STLD	B	0.27%	0.03%	0.03%
STT	B	0.12%	0.12%	0.12%
STX	D	0.17%	0.06%	0.06%
STZ	D	0.25%	0.16%	0.16%
SW	C	0.07%	0.12%	0.07%
SWK	F	0.27%	0.06%	0.06%
SWKS	F	0.21%	0.06%	0.06%
SYF	B	0.69%	0.11%	0.11%
SYK	A	0.12%	0.2%	0.12%
SYY	B	0.75%	0.16%	0.16%
T	A	0.33%	0.69%	0.33%
TAP	B	0.25%	0.04%	0.04%
TDY	A	0.03%	0.1%	0.03%
TECH	B	0.15%	0.05%	0.05%
TEL	B	0.19%	0.13%	0.13%
TER	F	0.17%	0.08%	0.08%
TFC	B	0.06%	0.27%	0.06%
TFX	F	0.05%	0.04%	0.04%
TGT	C	0.17%	0.3%	0.17%
TJX	B	0.72%	0.2%	0.2%
TMO	F	0.14%	0.57%	0.14%
TMUS	A	0.33%	0.5%	0.33%
TPR	B	0.33%	0.05%	0.05%
TRMB	B	0.03%	0.08%	0.03%
TROW	B	0.09%	0.12%	0.09%
TRV	B	0.14%	0.25%	0.14%
TSCO	C	0.12%	0.08%	0.08%
TSN	C	0.36%	0.07%	0.07%
TT	A	0.07%	0.12%	0.07%
TTWO	A	0.49%	0.06%	0.06%
TXN	C	0.23%	0.54%	0.23%
TXT	C	0.16%	0.07%	0.07%
UAL	B	0.28%	0.12%	0.12%
UDR	C	0.1%	0.06%	0.06%
UHS	D	0.32%	0.05%	0.05%
ULTA	C	0.17%	0.03%	0.03%
UNH	B	0.26%	1.51%	0.26%
UNP	C	0.08%	0.35%	0.08%
UPS	C	0.09%	0.43%	0.09%
USB	A	0.06%	0.34%	0.06%
V	A	0.04%	0.76%	0.04%
VICI	D	0.06%	0.14%	0.06%
VLO	D	0.5%	0.19%	0.19%
VLTO	C	0.03%	0.11%	0.03%
VMC	B	0.17%	0.06%	0.06%
VRSK	A	0.04%	0.08%	0.04%
VRSN	C	0.27%	0.04%	0.04%
VRTX	B	0.23%	0.2%	0.2%
VTR	C	0.11%	0.12%	0.11%
VTRS	B	0.24%	0.07%	0.07%
VZ	C	0.33%	0.74%	0.33%
WAB	A	0.13%	0.15%	0.13%
WAT	A	0.15%	0.06%	0.06%
WBA	D	0.64%	0.03%	0.03%
WBD	B	0.19%	0.09%	0.09%
WDC	D	0.17%	0.1%	0.1%
WEC	B	0.07%	0.13%	0.07%
WELL	B	0.11%	0.35%	0.11%
WFC	A	0.13%	1.04%	0.13%
WM	A	0.18%	0.19%	0.18%
WMB	B	0.25%	0.18%	0.18%
WMT	A	0.73%	1.59%	0.73%
WRB	B	0.14%	0.08%	0.08%
WTW	A	0.03%	0.14%	0.03%
WY	F	0.17%	0.1%	0.1%
XEL	A	0.08%	0.16%	0.08%
XOM	B	0.77%	2.35%	0.77%
XYL	D	0.19%	0.13%	0.13%
YUM	B	0.51%	0.09%	0.09%
ZBH	C	0.12%	0.1%	0.1%
ZBRA	A	0.13%	0.09%	0.09%
ZTS	D	0.25%	0.15%	0.15%

SSPY Overweight 66 Positions Relative to IUSV

Symbol	Grade	Weight
ROST	F	0.72%
CMG	B	0.5%
AAPL	C	0.5%
META	B	0.47%
VST	B	0.41%
CRM	B	0.35%
ORCL	A	0.34%
SNPS	B	0.34%
CDNS	B	0.33%
MSFT	C	0.32%
LULU	C	0.31%
DECK	B	0.3%
TSLA	B	0.28%
GDDY	A	0.27%
NVR	D	0.26%
PHM	D	0.25%
DHI	F	0.24%
TRGP	B	0.24%
AVGO	C	0.23%
PLTR	B	0.23%
CPRT	A	0.23%
GOOGL	B	0.23%
GOOG	B	0.23%
LLY	F	0.23%
TYL	B	0.22%
NFLX	A	0.22%
AMZN	A	0.22%
NOW	A	0.22%
MPWR	F	0.22%
ANET	C	0.21%
INTU	A	0.2%
BLDR	D	0.19%
BBWI	C	0.19%
AMAT	F	0.18%
CRWD	B	0.18%
FTNT	B	0.17%
KLAC	F	0.17%
PANW	A	0.16%
ADBE	C	0.16%
SMCI	F	0.15%
URI	B	0.14%
ACGL	D	0.14%
AMD	F	0.14%
IT	A	0.13%
NVDA	B	0.13%
HLT	A	0.12%
MAR	A	0.12%
EXPE	B	0.12%
BKNG	A	0.11%
UBER	F	0.11%
AXON	B	0.09%
RCL	A	0.09%
KKR	B	0.09%
NCLH	B	0.09%
LYV	B	0.09%
TDG	B	0.08%
WYNN	F	0.08%
ODFL	B	0.08%
FANG	D	0.07%
APA	F	0.07%
HES	C	0.07%
CE	F	0.07%
FICO	B	0.05%
WST	B	0.05%
CPAY	A	0.04%
FTV	D	0.03%

SSPY Underweight 294 Positions Relative to IUSV

Symbol	Grade	Weight
ILMN	C	-0.11%
EXE	A	-0.08%
DOCU	B	-0.07%
THC	B	-0.07%
USFD	A	-0.07%
COHR	B	-0.07%
PFGC	B	-0.06%
RGA	A	-0.06%
FNF	C	-0.06%
ARMK	B	-0.05%
ALLY	C	-0.05%
FHN	A	-0.05%
JEF	A	-0.05%
SF	B	-0.05%
AA	C	-0.05%
BJ	B	-0.05%
COO	D	-0.05%
RRX	C	-0.05%
WPC	F	-0.05%
JLL	C	-0.05%
SNV	B	-0.04%
SFM	B	-0.04%
AR	B	-0.04%
SSB	B	-0.04%
TPL	B	-0.04%
OGE	B	-0.04%
ZION	B	-0.04%
WTFC	B	-0.04%
ORI	A	-0.04%
GPK	D	-0.04%
MTZ	B	-0.04%
AAL	B	-0.04%
AVTR	F	-0.04%
GME	C	-0.04%
XPO	B	-0.04%
WCC	B	-0.04%
GMED	B	-0.04%
KNX	B	-0.04%
X	C	-0.04%
SNX	C	-0.04%
NLY	C	-0.04%
AFG	A	-0.04%
WBS	A	-0.04%
UNM	A	-0.04%
UTHR	B	-0.04%
LAD	B	-0.04%
FLR	C	-0.04%
CNH	D	-0.04%
NXST	C	-0.03%
CG	C	-0.03%
FNB	A	-0.03%
THO	B	-0.03%
AGCO	F	-0.03%
CCK	D	-0.03%
KRG	B	-0.03%
WHR	B	-0.03%
FBIN	F	-0.03%
PVH	C	-0.03%
ESNT	D	-0.03%
CIEN	B	-0.03%
SCI	B	-0.03%
STWD	D	-0.03%
RNR	D	-0.03%
INGR	B	-0.03%
OHI	C	-0.03%
HR	C	-0.03%
DAR	B	-0.03%
GBCI	B	-0.03%
CLF	D	-0.03%
COLB	B	-0.03%
KD	A	-0.03%
ARW	F	-0.03%
FAF	C	-0.03%
EWBC	B	-0.03%
NOV	C	-0.03%
BURL	C	-0.03%
DINO	D	-0.03%
G	B	-0.03%
R	A	-0.03%
ONB	B	-0.03%
VMI	B	-0.03%
CMC	B	-0.03%
BIO	C	-0.03%
OSK	B	-0.03%
ADC	A	-0.03%
IBKR	A	-0.03%
TMHC	C	-0.03%
VNO	C	-0.03%
PB	B	-0.03%
BERY	C	-0.03%
GLPI	D	-0.03%
FYBR	D	-0.03%
CACI	C	-0.03%
RPM	A	-0.03%
ACM	B	-0.03%
DTM	B	-0.02%
XRAY	F	-0.02%
CYTK	C	-0.02%
GATX	A	-0.02%
FR	C	-0.02%
PRGO	C	-0.02%
NVST	C	-0.02%
IDA	A	-0.02%
PII	F	-0.02%
ALE	A	-0.02%
MIDD	C	-0.02%
MAT	C	-0.02%
SR	C	-0.02%
CNM	D	-0.02%
ASH	F	-0.02%
TCBI	B	-0.02%
HOG	F	-0.02%
DCI	A	-0.02%
MTG	C	-0.02%
MKSI	C	-0.02%
AMTM	D	-0.02%
SEIC	A	-0.02%
ASB	B	-0.02%
HQY	B	-0.02%
KMPR	A	-0.02%
TXNM	A	-0.02%
CGNX	C	-0.02%
CNO	B	-0.02%
FLS	B	-0.02%
BKH	B	-0.02%
BRBR	A	-0.02%
OGS	A	-0.02%
KEX	B	-0.02%
SLGN	A	-0.02%
KRC	C	-0.02%
JAZZ	B	-0.02%
AN	C	-0.02%
ASGN	C	-0.02%
ORA	C	-0.02%
SWX	B	-0.02%
FLO	F	-0.02%
VLY	B	-0.02%
TKO	D	-0.02%
IRT	A	-0.02%
TTC	F	-0.02%
RGLD	C	-0.02%
ELS	C	-0.02%
AMH	C	-0.02%
AVNT	B	-0.02%
M	D	-0.02%
SBRA	C	-0.02%
ATR	A	-0.02%
CBSH	A	-0.02%
NJR	A	-0.02%
CUZ	C	-0.02%
BRX	A	-0.02%
CUBE	D	-0.02%
NNN	F	-0.02%
WAL	B	-0.02%
AYI	B	-0.02%
POR	D	-0.02%
GAP	B	-0.02%
LAMR	D	-0.02%
VOYA	B	-0.02%
SON	D	-0.02%
ST	F	-0.02%
CW	B	-0.02%
AVT	C	-0.02%
WTRG	C	-0.02%
SAIC	C	-0.02%
KBR	B	-0.02%
CFR	B	-0.02%
LITE	A	-0.02%
POST	D	-0.02%
UGI	D	-0.02%
BDC	C	-0.02%
UMBF	B	-0.02%
NFG	C	-0.02%
PNFP	B	-0.02%
UBSI	B	-0.02%
HOMB	A	-0.02%
AMG	B	-0.02%
DKS	F	-0.02%
LEA	F	-0.02%
BMRN	F	-0.02%
JHG	B	-0.02%
EHC	A	-0.02%
THG	A	-0.02%
REXR	F	-0.02%
TNL	A	-0.01%
YETI	C	-0.01%
EPR	D	-0.01%
UA	B	-0.01%
CPRI	F	-0.01%
BLKB	C	-0.01%
IPGP	C	-0.01%
VC	D	-0.01%
NSP	F	-0.01%
MMS	D	-0.01%
PSN	B	-0.01%
NSA	D	-0.01%
WEN	C	-0.01%
COLM	B	-0.01%
SAM	B	-0.01%
KNF	C	-0.01%
TEX	D	-0.01%
GEF	A	-0.01%
SYNA	D	-0.01%
HAE	B	-0.01%
LIVN	C	-0.01%
CHH	B	-0.01%
IRDM	C	-0.01%
OPCH	F	-0.01%
AMED	F	-0.01%
POWI	C	-0.01%
MSM	B	-0.01%
CADE	B	-0.01%
CRI	D	-0.01%
DLB	C	-0.01%
ROIV	C	-0.01%
LFUS	D	-0.01%
CHX	D	-0.01%
VNOM	C	-0.01%
CNXC	F	-0.01%
VSH	F	-0.01%
SMG	D	-0.01%
LANC	C	-0.01%
EEFT	C	-0.01%
PPC	B	-0.01%
UAA	B	-0.01%
LSTR	B	-0.01%
EQH	B	-0.01%
CBT	C	-0.01%
ALTM	C	-0.01%
IBOC	B	-0.01%
AM	B	-0.01%
ENS	D	-0.01%
CDP	C	-0.01%
JWN	B	-0.01%
BC	C	-0.01%
RCM	B	-0.01%
SRPT	F	-0.01%
ALGM	F	-0.01%
MTN	D	-0.01%
ZI	D	-0.01%
CRUS	F	-0.01%
HWC	B	-0.01%
LPX	B	-0.01%
RLI	A	-0.01%
CHWY	B	-0.01%
OZK	B	-0.01%
GNTX	C	-0.01%
EXPO	D	-0.01%
HXL	D	-0.01%
RYN	F	-0.01%
GXO	B	-0.01%
WH	A	-0.01%
WU	F	-0.01%
BRKR	F	-0.01%
ENOV	C	-0.01%
NOVT	C	-0.01%
DOCS	B	-0.01%
SIGI	B	-0.01%
MUR	F	-0.01%
MASI	B	-0.01%
GT	C	-0.01%
RH	C	-0.01%
KBH	D	-0.01%
CXT	D	-0.01%
ALV	C	-0.01%
CC	C	-0.01%
TKR	F	-0.01%
PBF	F	-0.01%
MTSI	B	-0.01%
PCH	F	-0.01%
SLM	B	-0.01%
OLN	D	-0.01%
NEOG	F	-0.01%
PAG	B	-0.01%
GHC	B	-0.01%
CVLT	A	-0.01%
FFIN	B	-0.01%
VAC	B	-0.01%
MAN	F	-0.01%
AMKR	F	-0.01%
AZPN	A	-0.01%
EXLS	B	-0.01%
NWE	C	-0.01%
EGP	C	-0.01%
EVR	B	-0.01%
CHE	D	-0.01%
BHF	B	-0.01%
FLG	D	-0.01%
STAG	D	-0.01%
FHI	A	-0.01%
MAGN	F	-0.0%
AZTA	F	-0.0%
WMG	B	-0.0%
HGV	B	-0.0%