FNDB vs. QWLD ETF Comparison

Comparison of Schwab Fundamental U.S. Broad Market Index ETF (FNDB) to SPDR MSCI World Quality Mix ETF (QWLD)

FNDB

Schwab Fundamental U.S. Broad Market Index ETF

FNDB Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Index. To pursue its goal, the fund generally invests in stocks that are included in the Russell Fundamental U.S. Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$24.22

Average Daily Volume

89,140

Number of Holdings ^*

1668

* 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

$129.19

Average Daily Volume

3,614

Number of Holdings ^*

609

* may have additional holdings in another (foreign) market

Performance

Period	FNDB	QWLD
30 Days	4.32%	1.12%
60 Days	8.82%	3.52%
90 Days	11.02%	6.66%
12 Months	33.63%	26.94%

568 Overlapping Holdings

	Symbol	Grade	Weight in FNDB	Weight in QWLD	Overlap
	A	D	0.05%	0.07%	0.05%
	AAPL	C	4.15%	2.55%	2.55%
	ABBV	B	0.51%	0.42%	0.42%
	ABBV	B	0.51%	0.15%	0.15%
	ABNB	C	0.01%	0.01%	0.01%
	ABT	B	0.32%	0.1%	0.1%
	ACGL	D	0.03%	0.24%	0.03%
	ACI	D	0.02%	0.02%	0.02%
	ACM	B	0.04%	0.01%	0.01%
	ACN	B	0.35%	0.64%	0.35%
	ADBE	D	0.17%	0.41%	0.17%
	ADI	C	0.13%	0.04%	0.04%
	ADM	F	0.22%	0.05%	0.05%
	ADP	A	0.14%	0.25%	0.14%
	ADSK	B	0.03%	0.09%	0.03%
	AEE	B	0.06%	0.08%	0.06%
	AEP	D	0.16%	0.07%	0.07%
	AER	A	0.02%	0.02%	0.02%
	AES	F	0.06%	0.01%	0.01%
	AFG	C	0.04%	0.02%	0.02%
	AFL	D	0.2%	0.11%	0.11%
	AGCO	D	0.03%	0.01%	0.01%
	AIG	B	0.27%	0.07%	0.07%
	AIZ	B	0.03%	0.07%	0.03%
	AJG	C	0.05%	0.18%	0.05%
	AKAM	B	0.03%	0.13%	0.03%
	ALB	C	0.03%	0.01%	0.01%
	ALGN	F	0.02%	0.0%	0.0%
	ALL	D	0.25%	0.07%	0.07%
	ALLE	D	0.01%	0.02%	0.01%
	ALLY	C	0.09%	0.01%	0.01%
	AMAT	F	0.22%	0.31%	0.22%
	AMCR	D	0.03%	0.08%	0.03%
	AMD	F	0.1%	0.04%	0.04%
	AME	B	0.04%	0.01%	0.01%
	AMGN	D	0.4%	0.19%	0.19%
	AMH	F	0.01%	0.0%	0.0%
	AMP	A	0.13%	0.08%	0.08%
	AMT	F	0.12%	0.02%	0.02%
	AMZN	A	1.3%	0.36%	0.36%
	ANET	A	0.03%	0.2%	0.03%
	ANSS	B	0.02%	0.0%	0.0%
	AON	B	0.11%	0.16%	0.11%
	AOS	D	0.02%	0.02%	0.02%
	APA	F	0.03%	0.03%	0.03%
	APD	C	0.12%	0.03%	0.03%
	APH	A	0.08%	0.42%	0.08%
	APO	B	0.03%	0.01%	0.01%
	APP	B	0.01%	0.0%	0.0%
	APTV	F	0.03%	0.01%	0.01%
	ARE	D	0.03%	0.01%	0.01%
	ARES	B	0.01%	0.0%	0.0%
	ATO	C	0.04%	0.01%	0.01%
	AVB	C	0.05%	0.01%	0.01%
	AVGO	B	0.61%	0.12%	0.12%
	AVTR	D	0.02%	0.01%	0.01%
	AVY	F	0.04%	0.03%	0.03%
	AWK	D	0.04%	0.01%	0.01%
	AXP	A	0.33%	0.06%	0.06%
	AZO	B	0.06%	0.27%	0.06%
	BA	F	0.12%	0.01%	0.01%
	BAC	A	1.13%	0.35%	0.35%
	BAH	C	0.03%	0.18%	0.03%
	BALL	F	0.06%	0.01%	0.01%
	BAX	D	0.07%	0.01%	0.01%
	BBWI	D	0.03%	0.0%	0.0%
	BBY	D	0.16%	0.06%	0.06%
	BDX	C	0.11%	0.08%	0.08%
	BEN	C	0.04%	0.01%	0.01%
	BG	F	0.11%	0.02%	0.02%
	BIIB	F	0.1%	0.01%	0.01%
	BIO	B	0.01%	0.0%	0.0%
	BK	B	0.25%	0.05%	0.05%
	BKNG	B	0.2%	0.03%	0.03%
	BKR	B	0.13%	0.02%	0.02%
	BLDR	D	0.06%	0.04%	0.04%
	BMRN	F	0.01%	0.07%	0.01%
	BMY	B	0.38%	0.21%	0.21%
	BR	B	0.03%	0.04%	0.03%
	BRK.A	C	2.03%	0.71%	0.71%
	BRO	B	0.02%	0.13%	0.02%
	BSX	B	0.08%	0.02%	0.02%
	BSY	D	0.0%	0.01%	0.0%
	BURL	D	0.02%	0.01%	0.01%
	BX	B	0.11%	0.03%	0.03%
	BXP	C	0.05%	0.01%	0.01%
	C	B	0.97%	0.23%	0.23%
	CAG	F	0.06%	0.04%	0.04%
	CAH	B	0.06%	0.13%	0.06%
	CARR	D	0.12%	0.02%	0.02%
	CAT	A	0.39%	0.36%	0.36%
	CB	D	0.26%	0.39%	0.26%
	CBOE	C	0.01%	0.25%	0.01%
	CBRE	C	0.12%	0.03%	0.03%
	CCEP	D	0.02%	0.01%	0.01%
	CCI	F	0.09%	0.01%	0.01%
	CCK	C	0.04%	0.01%	0.01%
	CCL	A	0.05%	0.01%	0.01%
	CDNS	B	0.03%	0.13%	0.03%
	CDW	F	0.05%	0.07%	0.05%
	CE	F	0.06%	0.01%	0.01%
	CEG	C	0.12%	0.02%	0.02%
	CF	D	0.06%	0.13%	0.06%
	CFG	A	0.09%	0.03%	0.03%
	CG	A	0.03%	0.01%	0.01%
	CHD	C	0.04%	0.19%	0.04%
	CHKP	D	0.02%	0.17%	0.02%
	CHRD	F	0.01%	0.01%	0.01%
	CHRW	B	0.07%	0.01%	0.01%
	CHTR	B	0.27%	0.05%	0.05%
	CI	D	0.49%	0.18%	0.18%
	CINF	B	0.06%	0.02%	0.02%
	CL	F	0.13%	0.2%	0.13%
	CLX	C	0.04%	0.01%	0.01%
	CMCSA	B	0.75%	0.17%	0.17%
	CME	C	0.08%	0.16%	0.08%
	CMG	C	0.03%	0.14%	0.03%
	CMI	B	0.16%	0.09%	0.09%
	CMS	D	0.06%	0.05%	0.05%
	CNC	F	0.19%	0.05%	0.05%
	CNH	B	0.02%	0.02%	0.02%
	CNP	C	0.06%	0.01%	0.01%
	COF	B	0.39%	0.09%	0.09%
	COIN	B	0.02%	0.0%	0.0%
	COP	D	0.42%	0.1%	0.1%
	COR	A	0.02%	0.41%	0.02%
	COST	C	0.59%	0.74%	0.59%
	CPAY	B	0.05%	0.01%	0.01%
	CPB	D	0.03%	0.09%	0.03%
	CPRT	C	0.02%	0.07%	0.02%
	CPT	D	0.02%	0.0%	0.0%
	CRBG	B	0.04%	0.01%	0.01%
	CRL	D	0.01%	0.0%	0.0%
	CRM	B	0.13%	0.05%	0.05%
	CSCO	A	0.75%	0.99%	0.75%
	CSGP	F	0.01%	0.0%	0.0%
	CSL	C	0.05%	0.03%	0.03%
	CSX	C	0.19%	0.11%	0.11%
	CTAS	A	0.08%	0.14%	0.08%
	CTLT	C	0.02%	0.01%	0.01%
	CTRA	D	0.03%	0.02%	0.02%
	CTSH	B	0.17%	0.2%	0.17%
	CTVA	B	0.09%	0.05%	0.05%
	CVS	D	0.73%	0.17%	0.17%
	CVX	B	1.1%	0.31%	0.31%
	D	C	0.17%	0.06%	0.06%
	DAL	A	0.02%	0.01%	0.01%
	DASH	A	0.01%	0.0%	0.0%
	DAY	A	0.0%	0.0%	0.0%
	DD	C	0.17%	0.02%	0.02%
	DE	B	0.22%	0.06%	0.06%
	DECK	B	0.03%	0.05%	0.03%
	DELL	B	0.02%	0.01%	0.01%
	DFS	B	0.21%	0.04%	0.04%
	DG	F	0.08%	0.01%	0.01%
	DGX	C	0.06%	0.1%	0.06%
	DHI	D	0.17%	0.11%	0.11%
	DHR	D	0.15%	0.05%	0.05%
	DINO	F	0.05%	0.04%	0.04%
	DIS	C	0.38%	0.08%	0.08%
	DKS	F	0.04%	0.02%	0.02%
	DLR	C	0.07%	0.02%	0.02%
	DLTR	F	0.05%	0.01%	0.01%
	DOC	B	0.03%	0.01%	0.01%
	DOV	A	0.06%	0.04%	0.04%
	DOW	F	0.2%	0.04%	0.04%
	DPZ	C	0.03%	0.06%	0.03%
	DRI	B	0.05%	0.03%	0.03%
	DT	B	0.0%	0.0%	0.0%
	DTE	D	0.07%	0.02%	0.02%
	DUK	D	0.3%	0.36%	0.3%
	DVA	D	0.06%	0.01%	0.01%
	DVN	F	0.09%	0.03%	0.03%
	DXCM	D	0.01%	0.0%	0.0%
	EA	B	0.07%	0.18%	0.07%
	EBAY	D	0.17%	0.01%	0.01%
	ECL	D	0.08%	0.01%	0.01%
	ED	D	0.12%	0.37%	0.12%
	EFX	D	0.03%	0.01%	0.01%
	EG	F	0.02%	0.05%	0.02%
	EIX	D	0.09%	0.02%	0.02%
	EL	F	0.04%	0.01%	0.01%
	ELS	D	0.01%	0.0%	0.0%
	ELV	D	0.37%	0.21%	0.21%
	EME	A	0.05%	0.04%	0.04%
	EMN	D	0.08%	0.01%	0.01%
	EMR	A	0.14%	0.03%	0.03%
	ENPH	F	0.0%	0.02%	0.0%
	ENTG	F	0.01%	0.0%	0.0%
	EOG	C	0.21%	0.05%	0.05%
	EPAM	D	0.02%	0.02%	0.02%
	EQH	A	0.05%	0.01%	0.01%
	EQIX	C	0.08%	0.02%	0.02%
	EQR	D	0.05%	0.01%	0.01%
	EQT	B	0.04%	0.01%	0.01%
	ERIE	D	0.01%	0.12%	0.01%
	ES	D	0.08%	0.02%	0.02%
	ESS	D	0.03%	0.01%	0.01%
	ETN	B	0.21%	0.03%	0.03%
	ETR	B	0.1%	0.03%	0.03%
	EVRG	C	0.07%	0.01%	0.01%
	EW	D	0.04%	0.07%	0.04%
	EXAS	D	0.0%	0.0%	0.0%
	EXC	D	0.17%	0.03%	0.03%
	EXPD	F	0.04%	0.04%	0.04%
	EXPE	B	0.03%	0.01%	0.01%
	EXR	D	0.03%	0.01%	0.01%
	F	D	0.31%	0.09%	0.09%
	FANG	D	0.05%	0.09%	0.05%
	FAST	A	0.07%	0.09%	0.07%
	FBIN	D	0.04%	0.01%	0.01%
	FCNCA	A	0.02%	0.1%	0.02%
	FCX	B	0.14%	0.03%	0.03%
	FDS	B	0.01%	0.03%	0.01%
	FDX	C	0.28%	0.07%	0.07%
	FE	D	0.09%	0.01%	0.01%
	FFIV	B	0.03%	0.16%	0.03%
	FI	A	0.11%	0.08%	0.08%
	FICO	A	0.02%	0.04%	0.02%
	FIS	C	0.11%	0.02%	0.02%
	FITB	A	0.11%	0.03%	0.03%
	FNF	C	0.06%	0.01%	0.01%
	FOXA	A	0.08%	0.01%	0.01%
	FSLR	F	0.02%	0.01%	0.01%
	FTNT	B	0.03%	0.01%	0.01%
	FTV	D	0.03%	0.01%	0.01%
	GD	B	0.2%	0.18%	0.18%
	GDDY	A	0.02%	0.22%	0.02%
	GE	C	0.15%	0.3%	0.15%
	GEHC	D	0.1%	0.02%	0.02%
	GEN	B	0.04%	0.11%	0.04%
	GEV	A	0.03%	0.02%	0.02%
	GGG	C	0.02%	0.02%	0.02%
	GILD	A	0.33%	0.25%	0.25%
	GIS	F	0.12%	0.35%	0.12%
	GLPI	D	0.02%	0.01%	0.01%
	GLW	B	0.13%	0.02%	0.02%
	GM	A	0.63%	0.17%	0.17%
	GOOG	B	1.0%	0.93%	0.93%
	GOOGL	B	1.16%	1.07%	1.07%
	GPC	D	0.05%	0.05%	0.05%
	GPN	C	0.07%	0.02%	0.02%
	GRMN	A	0.02%	0.05%	0.02%
	GS	A	0.52%	0.15%	0.15%
	GWW	A	0.07%	0.11%	0.07%
	H	C	0.01%	0.0%	0.0%
	HAL	D	0.06%	0.01%	0.01%
	HBAN	A	0.06%	0.03%	0.03%
	HCA	D	0.23%	0.04%	0.04%
	HD	C	0.77%	0.15%	0.15%
	HEI	C	0.02%	0.0%	0.0%
	HEI	C	0.02%	0.0%	0.0%
	HES	C	0.05%	0.01%	0.01%
	HIG	C	0.14%	0.03%	0.03%
	HII	F	0.04%	0.01%	0.01%
	HLT	B	0.06%	0.01%	0.01%
	HOLX	C	0.04%	0.01%	0.01%
	HON	C	0.33%	0.24%	0.24%
	HPE	B	0.19%	0.03%	0.03%
	HPQ	B	0.2%	0.04%	0.04%
	HRL	F	0.03%	0.1%	0.03%
	HSIC	F	0.04%	0.01%	0.01%
	HST	C	0.04%	0.01%	0.01%
	HSY	F	0.04%	0.16%	0.04%
	HUBB	B	0.03%	0.04%	0.03%
	HUM	F	0.17%	0.15%	0.15%
	HWM	A	0.06%	0.01%	0.01%
	IBM	D	0.57%	0.47%	0.47%
	ICE	D	0.11%	0.03%	0.03%
	IDXX	F	0.02%	0.07%	0.02%
	IEX	B	0.02%	0.03%	0.02%
	IFF	F	0.05%	0.01%	0.01%
	ILMN	B	0.03%	0.0%	0.0%
	INCY	B	0.01%	0.15%	0.01%
	INTC	C	0.75%	0.1%	0.1%
	INTU	C	0.09%	0.24%	0.09%
	INVH	D	0.02%	0.01%	0.01%
	IP	B	0.13%	0.02%	0.02%
	IPG	D	0.04%	0.02%	0.02%
	IQV	D	0.07%	0.01%	0.01%
	IR	A	0.03%	0.01%	0.01%
	IRM	C	0.06%	0.01%	0.01%
	ISRG	B	0.07%	0.25%	0.07%
	IT	B	0.03%	0.03%	0.03%
	ITW	A	0.14%	0.13%	0.13%
	J	C	0.05%	0.01%	0.01%
	JBHT	B	0.04%	0.03%	0.03%
	JBL	B	0.06%	0.02%	0.02%
	JCI	A	0.14%	0.03%	0.03%
	JKHY	C	0.02%	0.07%	0.02%
	JNJ	D	0.91%	1.15%	0.91%
	JNPR	B	0.05%	0.13%	0.05%
	JPM	A	1.77%	0.55%	0.55%
	K	A	0.06%	0.23%	0.06%
	KDP	F	0.07%	0.14%	0.07%
	KEY	A	0.09%	0.02%	0.02%
	KEYS	A	0.04%	0.17%	0.04%
	KHC	F	0.1%	0.21%	0.1%
	KIM	B	0.03%	0.01%	0.01%
	KKR	A	0.1%	0.02%	0.02%
	KLAC	F	0.08%	0.16%	0.08%
	KMB	F	0.1%	0.11%	0.1%
	KMI	B	0.2%	0.03%	0.03%
	KMX	C	0.06%	0.01%	0.01%
	KNX	B	0.04%	0.01%	0.01%
	KO	F	0.37%	0.59%	0.37%
	KR	A	0.27%	0.3%	0.27%
	KVUE	C	0.05%	0.08%	0.05%
	L	B	0.05%	0.16%	0.05%
	LDOS	B	0.07%	0.01%	0.01%
	LEN	D	0.17%	0.09%	0.09%
	LH	B	0.08%	0.02%	0.02%
	LHX	B	0.15%	0.02%	0.02%
	LII	C	0.03%	0.0%	0.0%
	LIN	D	0.33%	0.06%	0.06%
	LKQ	F	0.05%	0.01%	0.01%
	LLY	F	0.22%	1.26%	0.22%
	LMT	D	0.39%	0.43%	0.39%
	LNG	B	0.05%	0.05%	0.05%
	LNT	D	0.04%	0.03%	0.03%
	LOW	C	0.42%	0.07%	0.07%
	LPLA	A	0.03%	0.04%	0.03%
	LRCX	F	0.14%	0.2%	0.14%
	LULU	C	0.01%	0.07%	0.01%
	LUV	B	0.02%	0.0%	0.0%
	LVS	C	0.04%	0.0%	0.0%
	LW	C	0.02%	0.0%	0.0%
	LYB	F	0.14%	0.03%	0.03%
	LYV	B	0.0%	0.0%	0.0%
	MA	B	0.26%	0.7%	0.26%
	MAA	D	0.03%	0.01%	0.01%
	MANH	C	0.01%	0.04%	0.01%
	MAR	A	0.08%	0.01%	0.01%
	MAS	D	0.05%	0.01%	0.01%
	MCD	D	0.34%	0.42%	0.34%
	MCHP	F	0.05%	0.07%	0.05%
	MCK	B	0.08%	0.5%	0.08%
	MCO	D	0.07%	0.13%	0.07%
	MDLZ	F	0.2%	0.15%	0.15%
	MDT	C	0.16%	0.06%	0.06%
	MELI	B	0.0%	0.01%	0.0%
	MET	B	0.25%	0.05%	0.05%
	META	C	1.67%	2.16%	1.67%
	MGM	D	0.06%	0.01%	0.01%
	MKC	D	0.03%	0.01%	0.01%
	MKL	B	0.04%	0.12%	0.04%
	MKTX	C	0.01%	0.02%	0.01%
	MLM	B	0.04%	0.01%	0.01%
	MMC	D	0.13%	0.51%	0.13%
	MMM	C	0.34%	0.14%	0.14%
	MNST	B	0.04%	0.07%	0.04%
	MO	B	0.31%	0.04%	0.04%
	MOH	D	0.04%	0.07%	0.04%
	MOS	C	0.06%	0.02%	0.02%
	MPC	F	0.37%	0.16%	0.16%
	MPWR	D	0.01%	0.05%	0.01%
	MRK	F	0.44%	0.45%	0.44%
	MRNA	F	0.03%	0.01%	0.01%
	MRO	C	0.07%	0.02%	0.02%
	MRVL	B	0.04%	0.01%	0.01%
	MS	B	0.39%	0.1%	0.1%
	MSCI	C	0.03%	0.0%	0.0%
	MSFT	D	2.23%	2.28%	2.23%
	MSI	B	0.06%	0.6%	0.06%
	MTB	A	0.09%	0.04%	0.04%
	MTCH	C	0.01%	0.0%	0.0%
	MU	C	0.4%	0.04%	0.04%
	NBIX	C	0.0%	0.11%	0.0%
	NDAQ	B	0.03%	0.01%	0.01%
	NDSN	C	0.02%	0.02%	0.02%
	NEE	D	0.25%	0.06%	0.06%
	NEM	D	0.17%	0.04%	0.04%
	NFLX	A	0.13%	0.5%	0.13%
	NI	B	0.04%	0.01%	0.01%
	NKE	F	0.19%	0.17%	0.17%
	NOC	D	0.19%	0.33%	0.19%
	NOW	A	0.02%	0.01%	0.01%
	NRG	B	0.09%	0.01%	0.01%
	NSC	A	0.18%	0.03%	0.03%
	NTAP	C	0.07%	0.04%	0.04%
	NTRS	B	0.06%	0.02%	0.02%
	NUE	C	0.2%	0.04%	0.04%
	NVDA	A	0.35%	2.42%	0.35%
	NVR	D	0.07%	0.06%	0.06%
	NWSA	A	0.04%	0.01%	0.01%
	NXPI	D	0.05%	0.02%	0.02%
	O	D	0.04%	0.02%	0.02%
	OC	B	0.06%	0.03%	0.03%
	ODFL	A	0.05%	0.07%	0.05%
	OKE	B	0.12%	0.03%	0.03%
	OKTA	D	0.0%	0.0%	0.0%
	OMC	B	0.07%	0.04%	0.04%
	ON	C	0.04%	0.01%	0.01%
	ORCL	A	0.44%	0.24%	0.24%
	ORLY	A	0.1%	0.23%	0.1%
	OTIS	B	0.05%	0.01%	0.01%
	OVV	D	0.05%	0.02%	0.02%
	OXY	F	0.1%	0.03%	0.03%
	PANW	A	0.03%	0.17%	0.03%
	PARA	C	0.09%	0.02%	0.02%
	PAYC	B	0.01%	0.02%	0.01%
	PAYX	A	0.06%	0.1%	0.06%
	PCAR	B	0.13%	0.1%	0.1%
	PCG	C	0.03%	0.03%	0.03%
	PEG	C	0.1%	0.02%	0.02%
	PEP	F	0.41%	0.81%	0.41%
	PFE	F	0.72%	0.2%	0.2%
	PFG	C	0.09%	0.02%	0.02%
	PG	F	0.74%	0.93%	0.74%
	PGR	B	0.21%	0.33%	0.21%
	PH	A	0.11%	0.02%	0.02%
	PHM	D	0.12%	0.06%	0.06%
	PINS	C	0.01%	0.0%	0.0%
	PKG	B	0.06%	0.04%	0.04%
	PLD	F	0.07%	0.04%	0.04%
	PLTR	A	0.01%	0.0%	0.0%
	PM	C	0.42%	0.07%	0.07%
	PNC	A	0.26%	0.09%	0.09%
	PNR	B	0.03%	0.03%	0.03%
	PODD	B	0.0%	0.0%	0.0%
	POOL	B	0.02%	0.03%	0.02%
	PPG	D	0.08%	0.01%	0.01%
	PPL	B	0.1%	0.01%	0.01%
	PRU	B	0.21%	0.05%	0.05%
	PSA	D	0.05%	0.08%	0.05%
	PSTG	C	0.0%	0.0%	0.0%
	PSX	F	0.34%	0.13%	0.13%
	PTC	A	0.01%	0.08%	0.01%
	PWR	B	0.06%	0.01%	0.01%
	PYPL	B	0.19%	0.04%	0.04%
	QCOM	C	0.42%	0.33%	0.33%
	QRVO	F	0.04%	0.0%	0.0%
	RCL	A	0.03%	0.01%	0.01%
	REG	B	0.02%	0.01%	0.01%
	REGN	F	0.12%	0.34%	0.12%
	RF	A	0.07%	0.03%	0.03%
	RJF	A	0.04%	0.02%	0.02%
	RMD	B	0.03%	0.05%	0.03%
	ROK	B	0.05%	0.06%	0.05%
	ROKU	D	0.01%	0.0%	0.0%
	ROL	D	0.01%	0.08%	0.01%
	ROP	C	0.05%	0.48%	0.05%
	ROST	F	0.07%	0.02%	0.02%
	RPM	A	0.03%	0.01%	0.01%
	RPRX	F	0.01%	0.01%	0.01%
	RS	B	0.08%	0.02%	0.02%
	RSG	B	0.06%	0.44%	0.06%
	RTX	D	0.33%	0.09%	0.09%
	RVTY	C	0.03%	0.01%	0.01%
	SBAC	D	0.02%	0.01%	0.01%
	SBUX	C	0.26%	0.04%	0.04%
	SCHW	B	0.11%	0.04%	0.04%
	SEIC	A	0.02%	0.02%	0.02%
	SHW	C	0.08%	0.13%	0.08%
	SJM	D	0.06%	0.07%	0.06%
	SLB	D	0.11%	0.03%	0.03%
	SMCI	F	0.01%	0.02%	0.01%
	SNA	A	0.05%	0.03%	0.03%
	SNAP	C	0.0%	0.0%	0.0%
	SNOW	C	0.0%	0.0%	0.0%
	SNPS	B	0.03%	0.12%	0.03%
	SO	C	0.26%	0.47%	0.26%
	SOLV	B	0.03%	0.03%	0.03%
	SPG	B	0.1%	0.02%	0.02%
	SPGI	D	0.14%	0.03%	0.03%
	SQ	B	0.02%	0.01%	0.01%
	SRE	A	0.12%	0.03%	0.03%
	SSNC	C	0.03%	0.01%	0.01%
	STE	D	0.03%	0.01%	0.01%
	STLD	A	0.1%	0.02%	0.02%
	STT	B	0.09%	0.03%	0.03%
	STX	D	0.09%	0.01%	0.01%
	STZ	F	0.07%	0.01%	0.01%
	SUI	D	0.02%	0.01%	0.01%
	SW	B	0.07%	0.03%	0.03%
	SWK	F	0.08%	0.01%	0.01%
	SWKS	F	0.04%	0.03%	0.03%
	SYF	A	0.28%	0.03%	0.03%
	SYK	B	0.11%	0.03%	0.03%
	SYY	C	0.09%	0.03%	0.03%
	T	B	1.16%	0.38%	0.38%
	TAP	C	0.05%	0.01%	0.01%
	TDG	B	0.07%	0.01%	0.01%
	TDY	A	0.02%	0.06%	0.02%
	TECH	C	0.01%	0.0%	0.0%
	TER	F	0.04%	0.03%	0.03%
	TFC	A	0.2%	0.08%	0.08%
	TFX	F	0.02%	0.0%	0.0%
	TGT	F	0.36%	0.15%	0.15%
	TJX	D	0.2%	0.33%	0.2%
	TMO	D	0.26%	0.06%	0.06%
	TMUS	B	0.22%	0.72%	0.22%
	TOST	A	0.0%	0.0%	0.0%
	TPL	B	0.01%	0.05%	0.01%
	TRGP	B	0.06%	0.04%	0.04%
	TRMB	A	0.03%	0.01%	0.01%
	TROW	A	0.11%	0.05%	0.05%
	TRU	C	0.03%	0.01%	0.01%
	TRV	B	0.3%	0.28%	0.28%
	TSCO	C	0.06%	0.05%	0.05%
	TSLA	A	0.18%	0.12%	0.12%
	TSN	D	0.17%	0.13%	0.13%
	TT	B	0.06%	0.14%	0.06%
	TTC	D	0.02%	0.02%	0.02%
	TTD	A	0.01%	0.0%	0.0%
	TTWO	B	0.02%	0.01%	0.01%
	TW	C	0.01%	0.0%	0.0%
	TWLO	B	0.01%	0.01%	0.01%
	TXN	A	0.31%	0.5%	0.31%
	TXT	D	0.06%	0.01%	0.01%
	TYL	C	0.01%	0.0%	0.0%
	UBER	C	0.04%	0.01%	0.01%
	UDR	D	0.02%	0.0%	0.0%
	UHAL	C	0.02%	0.01%	0.01%
	UHS	D	0.09%	0.01%	0.01%
	ULTA	C	0.03%	0.07%	0.03%
	UNH	B	1.09%	1.3%	1.09%
	UNP	C	0.34%	0.26%	0.26%
	UPS	C	0.27%	0.07%	0.07%
	URI	B	0.12%	0.02%	0.02%
	USB	B	0.3%	0.09%	0.09%
	UTHR	A	0.02%	0.15%	0.02%
	V	A	0.32%	1.14%	0.32%
	VEEV	C	0.01%	0.05%	0.01%
	VICI	D	0.02%	0.02%	0.02%
	VLO	D	0.35%	0.07%	0.07%
	VLTO	D	0.02%	0.05%	0.02%
	VMC	B	0.04%	0.01%	0.01%
	VRSK	B	0.04%	0.01%	0.01%
	VRSN	C	0.02%	0.14%	0.02%
	VRT	A	0.02%	0.0%	0.0%
	VRTX	B	0.07%	0.44%	0.07%
	VST	B	0.13%	0.01%	0.01%
	VTR	C	0.07%	0.01%	0.01%
	VTRS	C	0.09%	0.03%	0.03%
	VZ	D	1.14%	0.58%	0.58%
	WAB	A	0.06%	0.01%	0.01%
	WAT	B	0.03%	0.04%	0.03%
	WBA	D	0.19%	0.04%	0.04%
	WBD	C	0.06%	0.06%	0.06%
	WDAY	C	0.01%	0.04%	0.01%
	WDC	B	0.12%	0.01%	0.01%
	WEC	C	0.08%	0.2%	0.08%
	WELL	C	0.09%	0.02%	0.02%
	WFC	B	1.12%	0.25%	0.25%
	WLK	D	0.02%	0.0%	0.0%
	WM	B	0.14%	0.52%	0.14%
	WMB	A	0.15%	0.18%	0.15%
	WMT	B	1.32%	0.75%	0.75%
	WPC	F	0.02%	0.01%	0.01%
	WRB	B	0.03%	0.14%	0.03%
	WSM	F	0.04%	0.04%	0.04%
	WSO	A	0.03%	0.03%	0.03%
	WST	C	0.02%	0.04%	0.02%
	WTRG	B	0.02%	0.01%	0.01%
	WTW	A	0.06%	0.07%	0.06%
	WY	F	0.09%	0.02%	0.02%
	WYNN	D	0.01%	0.0%	0.0%
	XEL	B	0.11%	0.08%	0.08%
	XOM	B	1.87%	0.46%	0.46%
	XRX	F	0.02%	0.0%	0.0%
	XYL	F	0.03%	0.01%	0.01%
	YUM	C	0.07%	0.15%	0.07%
	Z	D	0.02%	0.0%	0.0%
	ZBH	C	0.04%	0.01%	0.01%
	ZBRA	B	0.03%	0.01%	0.01%
	ZM	A	0.01%	0.01%	0.01%
	ZTS	F	0.07%	0.16%	0.07%

FNDB Overweight 1102 Positions Relative to QWLD

	Symbol	Grade	Weight
	LUMN	B	0.43%
	JLL	C	0.08%
	ARW	F	0.08%
	WKC	D	0.08%
	THC	C	0.07%
	WHR	B	0.07%
	USFD	B	0.07%
	X	B	0.07%
	AVT	B	0.07%
	CMA	A	0.06%
	PFGC	B	0.06%
	LAD	B	0.06%
	SIRI	D	0.06%
	VFC	B	0.06%
	R	A	0.06%
	MHK	D	0.06%
	KSS	F	0.06%
	DXC	C	0.05%
	IVZ	B	0.05%
	CASY	B	0.05%
	AN	C	0.05%
	BFH	A	0.05%
	OGN	F	0.05%
	ZION	A	0.05%
	JEF	B	0.05%
	UNM	A	0.05%
	LNC	A	0.05%
	OMF	A	0.05%
	BWA	C	0.05%
	LEA	F	0.05%
	TOL	B	0.05%
	FLEX	A	0.05%
	AA	B	0.05%
	M	C	0.05%
	CLF	C	0.04%
	SLM	A	0.04%
	WCC	A	0.04%
	OLN	F	0.04%
	UFPI	C	0.04%
	RGA	B	0.04%
	AMG	C	0.04%
	MUSA	C	0.04%
	TMHC	B	0.04%
	FYBR	C	0.04%
	AYI	B	0.04%
	HUN	F	0.04%
	DOX	B	0.04%
	PVH	C	0.04%
	PNW	C	0.04%
	EVR	B	0.04%
	TPR	B	0.04%
	INGR	B	0.04%
	TDS	B	0.04%
	FAF	D	0.04%
	ALSN	A	0.04%
	SFM	B	0.04%
	JXN	B	0.04%
	KD	C	0.04%
	BERY	C	0.04%
	THO	C	0.04%
	GPI	B	0.04%
	VNO	B	0.04%
	ORI	B	0.04%
	MAN	D	0.04%
	UGI	D	0.04%
	ITT	B	0.03%
	CW	B	0.03%
	MLI	B	0.03%
	JHG	A	0.03%
	FHN	A	0.03%
	EWBC	A	0.03%
	SAIC	B	0.03%
	BC	B	0.03%
	OGE	A	0.03%
	ANF	F	0.03%
	NWL	B	0.03%
	FMC	D	0.03%
	FLR	B	0.03%
	KBH	D	0.03%
	SANM	B	0.03%
	SNX	B	0.03%
	RL	A	0.03%
	ARMK	B	0.03%
	TPH	D	0.03%
	VOYA	B	0.03%
	ZIM	B	0.03%
	CIEN	B	0.03%
	CPRI	F	0.03%
	MTZ	A	0.03%
	CMC	A	0.03%
	GPK	D	0.03%
	RRX	B	0.03%
	GNW	B	0.03%
	FL	F	0.03%
	SLG	B	0.03%
	HBI	C	0.03%
	MTD	D	0.03%
	LPX	B	0.03%
	CACI	B	0.03%
	NXST	B	0.03%
	SATS	B	0.03%
	GL	B	0.03%
	OSK	B	0.03%
	HAS	D	0.03%
	MTH	D	0.03%
	CNO	A	0.03%
	WU	F	0.03%
	GT	C	0.03%
	RHI	B	0.03%
	GAP	C	0.03%
	PBF	F	0.03%
	BCC	C	0.03%
	VAC	C	0.02%
	GVA	B	0.02%
	GHC	B	0.02%
	CALM	B	0.02%
	AGNC	D	0.02%
	AWI	A	0.02%
	PB	A	0.02%
	COHR	B	0.02%
	MSM	C	0.02%
	CCS	F	0.02%
	UNIT	B	0.02%
	DBX	B	0.02%
	DEI	B	0.02%
	MKSI	F	0.02%
	MATX	A	0.02%
	VSCO	B	0.02%
	SPB	D	0.02%
	HRI	B	0.02%
	COOP	B	0.02%
	RXO	B	0.02%
	AVNT	C	0.02%
	DBRG	D	0.02%
	PLXS	B	0.02%
	FCN	D	0.02%
	VMI	B	0.02%
	SCCO	C	0.02%
	ADNT	F	0.02%
	FLO	D	0.02%
	WERN	B	0.02%
	XPO	B	0.02%
	CBT	A	0.02%
	ALK	A	0.02%
	BKH	C	0.02%
	SMG	C	0.02%
	HIW	C	0.02%
	MIDD	B	0.02%
	WBS	A	0.02%
	KRC	C	0.02%
	FRT	D	0.02%
	JAZZ	C	0.02%
	FIX	A	0.02%
	XRAY	F	0.02%
	SIG	B	0.02%
	TTEK	C	0.02%
	UAA	B	0.02%
	CRS	A	0.02%
	AL	B	0.02%
	MMS	C	0.02%
	CRI	F	0.02%
	DAN	F	0.02%
	MPW	D	0.02%
	CHE	F	0.02%
	BPOP	C	0.02%
	AIT	A	0.02%
	TPX	D	0.02%
	HUBG	B	0.02%
	AEO	F	0.02%
	WWD	C	0.02%
	CRUS	F	0.02%
	POR	D	0.02%
	GME	C	0.02%
	ODP	D	0.02%
	TNL	B	0.02%
	GEO	A	0.02%
	BLD	F	0.02%
	SWX	B	0.02%
	BWXT	C	0.02%
	SM	C	0.02%
	OI	D	0.02%
	SLVM	B	0.02%
	PENN	C	0.02%
	LECO	B	0.02%
	RDN	D	0.02%
	LEG	F	0.02%
	KMPR	B	0.02%
	PRG	B	0.02%
	LILAK	B	0.02%
	DY	D	0.02%
	HCC	B	0.02%
	TXRH	B	0.02%
	NAVI	C	0.02%
	NFG	B	0.02%
	TKR	F	0.02%
	MUR	F	0.02%
	KBR	B	0.02%
	OHI	C	0.02%
	FLS	B	0.02%
	BKU	B	0.02%
	NOV	D	0.02%
	PAG	C	0.02%
	MAC	B	0.02%
	CLH	B	0.02%
	POST	D	0.02%
	FTI	B	0.02%
	BECN	B	0.02%
	REZI	B	0.02%
	ASGN	B	0.02%
	SF	A	0.02%
	RUSHA	B	0.02%
	DCI	A	0.02%
	ASO	F	0.02%
	MHO	D	0.02%
	STWD	D	0.02%
	DAR	C	0.02%
	GNRC	B	0.02%
	WAL	A	0.02%
	PK	C	0.02%
	AXTA	B	0.02%
	SKX	D	0.02%
	ST	F	0.02%
	GXO	B	0.02%
	BRX	B	0.02%
	ABM	B	0.02%
	TGNA	A	0.02%
	CAR	C	0.02%
	NVT	B	0.02%
	HRB	C	0.02%
	CC	D	0.02%
	JWN	C	0.02%
	AR	D	0.02%
	CZR	C	0.02%
	G	B	0.02%
	ATR	B	0.02%
	SCI	A	0.02%
	LAMR	C	0.02%
	BJ	B	0.02%
	EHC	B	0.02%
	THG	B	0.02%
	HOG	D	0.02%
	MDU	F	0.02%
	PRI	B	0.02%
	BAP	C	0.02%
	EXP	B	0.02%
	MTG	D	0.02%
	BTU	A	0.02%
	PII	F	0.02%
	ABG	B	0.02%
	LSTR	C	0.02%
	CNX	B	0.02%
	SEE	B	0.02%
	AAP	F	0.02%
	NSIT	F	0.02%
	UAL	A	0.02%
	SNV	A	0.02%
	SON	F	0.02%
	GNTX	C	0.02%
	PLAB	D	0.01%
	OII	B	0.01%
	NSA	D	0.01%
	MODG	F	0.01%
	GOLF	D	0.01%
	MTRN	C	0.01%
	NX	C	0.01%
	PRK	A	0.01%
	CASH	A	0.01%
	OPEN	F	0.01%
	CBZ	B	0.01%
	ROG	D	0.01%
	CDE	D	0.01%
	LADR	C	0.01%
	PRDO	B	0.01%
	JJSF	B	0.01%
	YETI	F	0.01%
	RNG	B	0.01%
	AMRK	D	0.01%
	KFRC	D	0.01%
	ESE	B	0.01%
	ADC	D	0.01%
	CSGS	B	0.01%
	NBTB	A	0.01%
	NMIH	D	0.01%
	CVI	F	0.01%
	UCTT	D	0.01%
	VSAT	F	0.01%
	CSWI	B	0.01%
	HWKN	D	0.01%
	WNC	D	0.01%
	KN	B	0.01%
	LBRDK	A	0.01%
	RRR	C	0.01%
	REXR	F	0.01%
	LRN	A	0.01%
	AZEK	B	0.01%
	MGRC	B	0.01%
	CNS	B	0.01%
	GO	F	0.01%
	ALIT	D	0.01%
	NWBI	A	0.01%
	BKD	D	0.01%
	RAMP	C	0.01%
	KLG	F	0.01%
	NSP	F	0.01%
	ROCK	C	0.01%
	EXPO	D	0.01%
	AAON	B	0.01%
	KW	B	0.01%
	HAE	D	0.01%
	TOWN	B	0.01%
	ARI	D	0.01%
	FFIN	A	0.01%
	CXT	D	0.01%
	INDB	A	0.01%
	SAFT	B	0.01%
	GNL	D	0.01%
	NWN	B	0.01%
	CCOI	B	0.01%
	BDN	C	0.01%
	MGEE	A	0.01%
	RBC	B	0.01%
	WOR	D	0.01%
	AKR	B	0.01%
	SYNA	F	0.01%
	CWT	D	0.01%
	REVG	C	0.01%
	FTDR	A	0.01%
	AIN	D	0.01%
	DOLE	B	0.01%
	STRA	D	0.01%
	KOS	F	0.01%
	ONTO	F	0.01%
	CENTA	D	0.01%
	LXP	D	0.01%
	EIG	B	0.01%
	ORA	A	0.01%
	RHP	B	0.01%
	ALEX	C	0.01%
	NHI	D	0.01%
	BLMN	D	0.01%
	BCPC	B	0.01%
	PBI	B	0.01%
	GFF	C	0.01%
	IBTX	A	0.01%
	ATI	D	0.01%
	FRME	A	0.01%
	OLED	F	0.01%
	KELYA	C	0.01%
	MMSI	A	0.01%
	POWI	C	0.01%
	CORT	B	0.01%
	EGP	D	0.01%
	PRIM	B	0.01%
	IRDM	C	0.01%
	CNXN	C	0.01%
	PMT	D	0.01%
	WSFS	B	0.01%
	AX	B	0.01%
	CWEN	D	0.01%
	SASR	A	0.01%
	IBKR	A	0.01%
	NGVT	B	0.01%
	HOMB	A	0.01%
	NTCT	B	0.01%
	NPO	C	0.01%
	ABR	B	0.01%
	MGY	B	0.01%
	HTLF	A	0.01%
	JACK	C	0.01%
	UCB	B	0.01%
	WSBC	A	0.01%
	ENR	B	0.01%
	VC	F	0.01%
	OSIS	C	0.01%
	BXC	B	0.01%
	HI	C	0.01%
	BKE	B	0.01%
	ENOV	D	0.01%
	MYRG	B	0.01%
	NHC	C	0.01%
	MSA	D	0.01%
	AM	C	0.01%
	KALU	B	0.01%
	OTTR	B	0.01%
	SAM	B	0.01%
	CVBF	A	0.01%
	VIAV	B	0.01%
	ESRT	C	0.01%
	AZZ	C	0.01%
	SCSC	C	0.01%
	WWW	B	0.01%
	ICFI	B	0.01%
	PFS	B	0.01%
	SHO	B	0.01%
	SSB	A	0.01%
	HL	C	0.01%
	PBH	B	0.01%
	COMP	B	0.01%
	PDM	B	0.01%
	BRKR	F	0.01%
	STRL	A	0.01%
	UE	B	0.01%
	FFBC	B	0.01%
	DDS	C	0.01%
	KRG	B	0.01%
	CBU	B	0.01%
	LANC	B	0.01%
	WSC	D	0.01%
	FHI	B	0.01%
	HGV	C	0.01%
	HLF	C	0.01%
	HEES	B	0.01%
	EPC	D	0.01%
	TRMK	B	0.01%
	AEIS	B	0.01%
	SKT	B	0.01%
	PLNT	B	0.01%
	CPNG	C	0.01%
	IBOC	A	0.01%
	JBT	B	0.01%
	FIVE	F	0.01%
	PECO	B	0.01%
	FN	B	0.01%
	HTH	B	0.01%
	FIBK	A	0.01%
	CIVI	D	0.01%
	PSN	B	0.01%
	DORM	B	0.01%
	RLJ	D	0.01%
	XHR	B	0.01%
	PPBI	B	0.01%
	BOKF	A	0.01%
	RLI	A	0.01%
	CHX	D	0.01%
	TREX	C	0.01%
	MORN	B	0.01%
	BANR	B	0.01%
	AXS	B	0.01%
	IDCC	A	0.01%
	TNET	F	0.01%
	FR	D	0.01%
	CVLT	A	0.01%
	ECPG	C	0.01%
	ETSY	D	0.01%
	SMTC	B	0.01%
	CABO	C	0.01%
	STAG	D	0.01%
	AIR	C	0.01%
	IBP	D	0.01%
	IOSP	C	0.01%
	RIG	D	0.01%
	FSS	C	0.01%
	OPCH	F	0.01%
	RYI	C	0.01%
	BGC	A	0.01%
	ITRI	B	0.01%
	AMR	D	0.01%
	KAR	C	0.01%
	HOPE	B	0.01%
	DNB	C	0.01%
	MWA	B	0.01%
	RRC	B	0.01%
	FULT	A	0.01%
	IPGP	B	0.01%
	UPBD	C	0.01%
	BOH	B	0.01%
	DRH	B	0.01%
	DIOD	D	0.01%
	APG	B	0.01%
	SNDR	B	0.01%
	CNM	C	0.01%
	HPP	F	0.01%
	SAH	B	0.01%
	ATKR	C	0.01%
	ITGR	A	0.01%
	EXLS	A	0.01%
	LBRT	D	0.01%
	SPTN	C	0.01%
	FELE	B	0.01%
	BOOT	D	0.01%
	ABCB	B	0.01%
	SCL	D	0.01%
	NMRK	C	0.01%
	CNK	B	0.01%
	HELE	D	0.01%
	AMN	F	0.01%
	AMED	B	0.01%
	SVC	F	0.01%
	PPC	B	0.01%
	AROC	B	0.01%
	VSTO	A	0.01%
	MCY	B	0.01%
	IAC	C	0.01%
	COMM	B	0.01%
	DNOW	C	0.01%
	CEIX	A	0.01%
	DLB	C	0.01%
	APOG	B	0.01%
	ZD	D	0.01%
	IGT	D	0.01%
	SLGN	B	0.01%
	WTS	C	0.01%
	PRGO	D	0.01%
	CVCO	B	0.01%
	FND	F	0.01%
	NEU	C	0.01%
	GMED	B	0.01%
	TCBI	A	0.01%
	YELP	C	0.01%
	BFAM	F	0.01%
	ENSG	C	0.01%
	COKE	D	0.01%
	WEN	B	0.01%
	HTZ	F	0.01%
	ICLR	F	0.01%
	TPG	B	0.01%
	ICUI	C	0.01%
	PLUS	C	0.01%
	MASI	B	0.01%
	CDP	B	0.01%
	RNR	B	0.01%
	RGLD	C	0.01%
	KTB	B	0.01%
	GTES	A	0.01%
	CGNX	B	0.01%
	JBGS	D	0.01%
	AMWD	B	0.01%
	BXMT	B	0.01%
	AGR	D	0.01%
	RYN	C	0.01%
	LAUR	B	0.01%
	LZB	C	0.01%
	CHDN	B	0.01%
	UVV	C	0.01%
	ACHC	F	0.01%
	MLKN	D	0.01%
	GBCI	B	0.01%
	MTX	B	0.01%
	UMBF	A	0.01%
	SUM	B	0.01%
	VNT	B	0.01%
	SXT	B	0.01%
	APAM	A	0.01%
	CBRL	C	0.01%
	EPR	D	0.01%
	VYX	C	0.01%
	PHIN	B	0.01%
	WEX	D	0.01%
	SCS	C	0.01%
	TDC	D	0.01%
	CATY	A	0.01%
	MTDR	C	0.01%
	WMS	B	0.01%
	GEF	B	0.01%
	PTEN	D	0.01%
	WMK	C	0.01%
	HE	D	0.01%
	SFNC	B	0.01%
	EAT	B	0.01%
	OUT	C	0.01%
	WAFD	B	0.01%
	SIGI	B	0.01%
	SLAB	D	0.01%
	ESAB	B	0.01%
	AGO	B	0.01%
	ONB	A	0.01%
	PIPR	A	0.01%
	CACC	D	0.01%
	SITE	B	0.01%
	DK	F	0.01%
	DHC	F	0.01%
	EBS	C	0.01%
	SKY	D	0.01%
	AVA	D	0.01%
	CYH	D	0.01%
	OMI	F	0.01%
	TROX	F	0.01%
	OLLI	C	0.01%
	NOMD	F	0.01%
	VVV	B	0.01%
	B	B	0.01%
	APLE	B	0.01%
	THS	D	0.01%
	IMKTA	D	0.01%
	GBX	B	0.01%
	RH	C	0.01%
	NJR	C	0.01%
	ALE	A	0.01%
	LGIH	D	0.01%
	EXEL	B	0.01%
	FWRD	C	0.01%
	ATGE	A	0.01%
	UNF	B	0.01%
	WTM	A	0.01%
	KMT	B	0.01%
	PDCO	C	0.01%
	ENVA	A	0.01%
	LNW	C	0.01%
	EEFT	C	0.01%
	CRC	B	0.01%
	MOD	C	0.01%
	PCH	D	0.01%
	UBSI	B	0.01%
	WGO	C	0.01%
	CNXC	F	0.01%
	ACIW	A	0.01%
	HXL	D	0.01%
	SPOT	B	0.01%
	NWE	D	0.01%
	NVST	B	0.01%
	BCO	D	0.01%
	URBN	F	0.01%
	SSD	C	0.01%
	BDC	A	0.01%
	ARCB	B	0.01%
	WD	B	0.01%
	COLB	A	0.01%
	ACA	B	0.01%
	COLM	C	0.01%
	FUL	C	0.01%
	ADTN	B	0.01%
	PSMT	C	0.01%
	SR	D	0.01%
	ESNT	F	0.01%
	PNM	B	0.01%
	FHB	A	0.01%
	SBRA	C	0.01%
	CBSH	A	0.01%
	JELD	F	0.01%
	SN	D	0.01%
	NNN	F	0.01%
	PINC	A	0.01%
	PFSI	D	0.01%
	VSH	F	0.01%
	VSTS	F	0.01%
	LFUS	C	0.01%
	STC	C	0.01%
	AAL	B	0.01%
	HWC	A	0.01%
	HNI	C	0.01%
	SRCL	A	0.01%
	SPR	F	0.01%
	NYT	B	0.01%
	TRN	B	0.01%
	LOPE	B	0.01%
	SBH	B	0.01%
	MC	A	0.01%
	CUBE	D	0.01%
	KEX	C	0.01%
	HLI	A	0.01%
	COLD	F	0.01%
	CXW	B	0.01%
	CROX	F	0.01%
	VLY	B	0.01%
	JBLU	D	0.01%
	ESI	A	0.01%
	MAT	C	0.01%
	MTN	D	0.01%
	ASH	D	0.01%
	ELAN	F	0.01%
	ASB	A	0.01%
	WH	A	0.01%
	IDA	A	0.01%
	KNF	B	0.01%
	OZK	B	0.01%
	BYD	B	0.01%
	OGS	B	0.01%
	GATX	B	0.01%
	TTMI	B	0.01%
	UNFI	B	0.01%
	CUZ	B	0.01%
	SHOO	D	0.01%
	FDP	B	0.01%
	PATK	D	0.01%
	TEX	B	0.01%
	KFY	B	0.01%
	ARCH	B	0.01%
	QRTEA	F	0.01%
	CADE	A	0.01%
	WTFC	A	0.01%
	GIII	B	0.01%
	CWK	B	0.01%
	ENS	C	0.01%
	HP	B	0.01%
	ALV	F	0.01%
	SAIA	B	0.01%
	LCII	C	0.01%
	FNB	A	0.01%
	AMKR	F	0.01%
	LITE	B	0.01%
	GMS	B	0.01%
	CFR	A	0.01%
	ANDE	D	0.01%
	SKYW	B	0.01%
	DTM	A	0.01%
	CR	B	0.01%
	VIRT	B	0.01%
	PNFP	A	0.01%
	MOG.A	A	0.01%
	SEM	C	0.01%
	BHE	B	0.01%
	TPC	B	0.01%
	MGPI	F	0.0%
	NIC	A	0.0%
	TBBK	C	0.0%
	SEG	D	0.0%
	HOV	D	0.0%
	AMRC	D	0.0%
	AOSL	F	0.0%
	PCRX	C	0.0%
	ALGM	F	0.0%
	GIC	F	0.0%
	TWI	F	0.0%
	PKST	C	0.0%
	LESL	C	0.0%
	CRNC	D	0.0%
	GPRO	C	0.0%
	THR	D	0.0%
	GSM	D	0.0%
	KE	B	0.0%
	AMPH	B	0.0%
	MED	D	0.0%
	MOV	D	0.0%
	ONEW	C	0.0%
	PETS	C	0.0%
	TTEC	D	0.0%
	OIS	C	0.0%
	REX	B	0.0%
	CENT	D	0.0%
	SPWH	D	0.0%
	GPMT	C	0.0%
	MODV	F	0.0%
	PRM	B	0.0%
	SEDG	F	0.0%
	SNEX	B	0.0%
	AVD	D	0.0%
	BMBL	C	0.0%
	BRSP	B	0.0%
	CMTL	F	0.0%
	RILY	D	0.0%
	CRMT	F	0.0%
	HLNE	B	0.0%
	VREX	C	0.0%
	AMSF	A	0.0%
	SRI	F	0.0%
	JRVR	D	0.0%
	FLGT	C	0.0%
	SSYS	C	0.0%
	NPK	C	0.0%
	USPH	B	0.0%
	MYE	F	0.0%
	CCRN	F	0.0%
	PLCE	C	0.0%
	DENN	C	0.0%
	FIZZ	B	0.0%
	IRBT	F	0.0%
	DHIL	B	0.0%
	TITN	C	0.0%
	ATNI	F	0.0%
	KRNY	B	0.0%
	RGP	F	0.0%
	SSP	D	0.0%
	GTY	C	0.0%
	CSR	D	0.0%
	GNK	F	0.0%
	CSV	A	0.0%
	AMBC	C	0.0%
	ARKO	B	0.0%
	FLWS	C	0.0%
	PLOW	D	0.0%
	SRCE	A	0.0%
	MEI	F	0.0%
	CCSI	B	0.0%
	CLDT	D	0.0%
	OPK	D	0.0%
	DIN	C	0.0%
	UFCS	C	0.0%
	IRWD	D	0.0%
	OPI	F	0.0%
	CTRN	C	0.0%
	HAFC	B	0.0%
	TPIC	F	0.0%
	CMP	C	0.0%
	CNOB	B	0.0%
	ARCO	F	0.0%
	WOW	B	0.0%
	TMP	A	0.0%
	BJRI	B	0.0%
	EVRI	A	0.0%
	AGM	B	0.0%
	AVO	A	0.0%
	WASH	A	0.0%
	RYAM	B	0.0%
	BRY	D	0.0%
	ALKS	C	0.0%
	SHYF	B	0.0%
	TEN	F	0.0%
	GDEN	F	0.0%
	EDR	C	0.0%
	DCO	C	0.0%
	WABC	B	0.0%
	MATW	C	0.0%
	WMG	B	0.0%
	KREF	C	0.0%
	ALTO	C	0.0%
	CLB	B	0.0%
	ZEUS	D	0.0%
	DAC	D	0.0%
	CRAI	B	0.0%
	MTUS	D	0.0%
	DBI	F	0.0%
	MTW	C	0.0%
	MERC	C	0.0%
	HASI	C	0.0%
	SFIX	B	0.0%
	BANF	B	0.0%
	HFWA	A	0.0%
	SSTK	D	0.0%
	PFC	A	0.0%
	RMBS	B	0.0%
	CLVT	F	0.0%
	CNNE	B	0.0%
	CLOV	B	0.0%
	SHEN	C	0.0%
	AGL	F	0.0%
	HVT	F	0.0%
	TBI	D	0.0%
	BRKL	B	0.0%
	VSEC	A	0.0%
	EBF	D	0.0%
	VIR	B	0.0%
	WTTR	B	0.0%
	WRLD	B	0.0%
	PEGA	B	0.0%
	BBSI	B	0.0%
	KNSL	D	0.0%
	RUN	F	0.0%
	AVNS	D	0.0%
	UTL	C	0.0%
	OCFC	A	0.0%
	TCBK	B	0.0%
	PRLB	B	0.0%
	STNE	F	0.0%
	AHCO	D	0.0%
	SBLK	D	0.0%
	PRVA	B	0.0%
	SBSI	B	0.0%
	HSII	A	0.0%
	USNA	C	0.0%
	VRNT	F	0.0%
	EVTC	D	0.0%
	EGBN	B	0.0%
	WOOF	B	0.0%
	SBCF	B	0.0%
	CMRE	C	0.0%
	MXL	C	0.0%
	CLW	D	0.0%
	XPRO	F	0.0%
	MP	B	0.0%
	GDOT	B	0.0%
	DXPE	A	0.0%
	CALX	F	0.0%
	SMP	C	0.0%
	ZIMV	F	0.0%
	CVGW	C	0.0%
	ETD	F	0.0%
	CFFN	A	0.0%
	CMTG	D	0.0%
	PAGS	F	0.0%
	UVE	C	0.0%
	CARS	D	0.0%
	NUS	F	0.0%
	AMC	C	0.0%
	TKO	D	0.0%
	XP	F	0.0%
	VAL	F	0.0%
	CTRE	C	0.0%
	IHRT	D	0.0%
	CPF	B	0.0%
	ASTE	B	0.0%
	OFG	C	0.0%
	CBL	B	0.0%
	USM	B	0.0%
	THRY	F	0.0%
	IVT	A	0.0%
	RGR	D	0.0%
	RC	F	0.0%
	STEP	A	0.0%
	WOLF	D	0.0%
	CPS	B	0.0%
	VCTR	B	0.0%
	RWT	D	0.0%
	SPSC	D	0.0%
	SCVL	D	0.0%
	RDNT	B	0.0%
	MNRO	B	0.0%
	IPAR	B	0.0%
	ALRM	D	0.0%
	STNG	F	0.0%
	PEN	B	0.0%
	LEVI	F	0.0%
	PRA	B	0.0%
	ILPT	F	0.0%
	TRTX	B	0.0%
	GLDD	B	0.0%
	SFBS	B	0.0%
	RGEN	D	0.0%
	SENEA	B	0.0%
	SXC	A	0.0%
	VTLE	D	0.0%
	MYGN	F	0.0%
	HMST	F	0.0%
	SGRY	D	0.0%
	ASTH	B	0.0%
	ZUMZ	D	0.0%
	PZZA	B	0.0%
	GCO	C	0.0%
	FBRT	B	0.0%
	PUMP	C	0.0%
	GLOB	B	0.0%
	CNSL	B	0.0%
	ASIX	B	0.0%
	LKFN	B	0.0%
	ACLS	F	0.0%
	DHT	D	0.0%
	WFRD	D	0.0%
	SWBI	C	0.0%
	PRAA	C	0.0%
	RKT	D	0.0%
	HLIO	B	0.0%
	ACCO	C	0.0%
	CMPR	D	0.0%
	NOG	B	0.0%
	RDUS	C	0.0%
	ZI	C	0.0%
	UIS	B	0.0%
	CRGY	B	0.0%
	RNST	A	0.0%
	FBNC	B	0.0%
	CHCO	B	0.0%
	VRTS	B	0.0%
	LNN	B	0.0%
	RES	D	0.0%
	NVEE	B	0.0%
	AZTA	D	0.0%
	GTLS	B	0.0%
	AGRO	B	0.0%
	ICHR	D	0.0%
	INVA	B	0.0%
	PARR	F	0.0%
	NEOG	C	0.0%
	GLNG	B	0.0%
	BRBR	B	0.0%
	LTC	B	0.0%
	LSCC	C	0.0%
	INSW	F	0.0%
	NBR	B	0.0%
	SFL	F	0.0%
	LIVN	C	0.0%
	CMCO	D	0.0%
	BZH	C	0.0%
	MATV	C	0.0%
	VRE	C	0.0%
	COHU	C	0.0%
	HZO	C	0.0%
	HAYW	B	0.0%
	CNDT	C	0.0%
	AMCX	F	0.0%
	AGX	A	0.0%
	BGS	F	0.0%
	LPG	F	0.0%
	ATSG	B	0.0%
	CCO	C	0.0%
	NTB	A	0.0%
	EPAC	B	0.0%
	SUPN	B	0.0%
	CNMD	C	0.0%
	CSTM	F	0.0%
	GTN	C	0.0%
	AY	B	0.0%
	FCPT	D	0.0%
	ECVT	C	0.0%
	WING	F	0.0%
	MRC	C	0.0%
	KLIC	B	0.0%
	CODI	B	0.0%
	TSE	D	0.0%
	CTS	B	0.0%
	EPRT	D	0.0%
	JBSS	F	0.0%
	EAF	C	0.0%
	NOVT	C	0.0%
	WHD	A	0.0%
	SJW	D	0.0%
	HTLD	C	0.0%
	HCSG	B	0.0%
	NVRI	F	0.0%
	GRBK	D	0.0%
	PTON	B	0.0%
	NTGR	B	0.0%
	EFSC	A	0.0%
	TRNO	F	0.0%
	SMPL	B	0.0%
	WDFC	B	0.0%
	GFS	D	0.0%
	CHEF	C	0.0%
	HAIN	C	0.0%
	AXL	D	0.0%
	ESGR	B	0.0%
	OXM	F	0.0%
	EMBC	C	0.0%
	ADUS	C	0.0%
	PRGS	A	0.0%
	LYFT	C	0.0%
	VRRM	F	0.0%
	KTOS	B	0.0%
	QLYS	B	0.0%
	MMI	B	0.0%
	HURN	B	0.0%
	DEA	C	0.0%
	TILE	B	0.0%
	AWR	C	0.0%
	HQY	B	0.0%
	CUBI	C	0.0%
	FBP	B	0.0%
	CWST	B	0.0%
	SONO	C	0.0%
	IART	C	0.0%
	BUSE	C	0.0%
	MD	B	0.0%
	CWH	C	0.0%
	PLAY	C	0.0%
	ELME	D	0.0%
	MRCY	B	0.0%
	TDOC	C	0.0%
	GPRE	F	0.0%
	SNBR	D	0.0%
	CRK	A	0.0%
	BLKB	C	0.0%
	TNC	D	0.0%
	FCF	B	0.0%
	ENV	B	0.0%
	LGF.A	C	0.0%
	OEC	F	0.0%
	STBA	C	0.0%
	KOP	D	0.0%
	MEDP	D	0.0%
	COTY	F	0.0%
	W	F	0.0%
	BSIG	B	0.0%
	FOXF	F	0.0%
	SABR	C	0.0%
	HHH	B	0.0%
	EXPI	B	0.0%
	PJT	A	0.0%
	TRIP	C	0.0%
	BMI	C	0.0%
	EYE	C	0.0%
	AAT	B	0.0%
	CAKE	B	0.0%
	GCI	C	0.0%
	KWR	C	0.0%
	CAL	F	0.0%
	AUB	A	0.0%
	SEB	F	0.0%
	HALO	C	0.0%
	MRTN	C	0.0%
	HMN	B	0.0%
	BNL	D	0.0%
	SCHL	F	0.0%
	ALGT	B	0.0%
	NNI	B	0.0%
	CARG	B	0.0%
	DLX	C	0.0%
	SXI	B	0.0%
	TALO	D	0.0%
	ALG	B	0.0%
	OMCL	B	0.0%
	DFIN	F	0.0%
	EBC	A	0.0%
	TRS	B	0.0%
	VBTX	B	0.0%
	ZWS	B	0.0%
	IRT	C	0.0%
	CNA	D	0.0%
	PGRE	C	0.0%
	PR	D	0.0%
	HLX	D	0.0%
	GES	F	0.0%
	THRM	D	0.0%
	ROIC	A	0.0%
	FORM	F	0.0%
	CPK	B	0.0%
	CHH	B	0.0%
	BV	A	0.0%
	BRC	B	0.0%
	PEB	D	0.0%
	GWRE	A	0.0%
	ROAD	A	0.0%
	PTVE	D	0.0%
	REYN	F	0.0%
	KAI	B	0.0%

FNDB Underweight 41 Positions Relative to QWLD

	Symbol	Grade	Weight
	NVS	D	-0.84%
	UL	D	-0.29%
	WCN	D	-0.26%
	HSBH	B	-0.25%
	MFG	B	-0.21%
	TM	F	-0.14%
	E	F	-0.13%
	MUFG	B	-0.13%
	DEO	F	-0.12%
	TD	D	-0.12%
	BCS	A	-0.11%
	CNI	F	-0.1%
	LYG	D	-0.09%
	SMFG	C	-0.09%
	HMC	F	-0.08%
	SONY	D	-0.08%
	STLA	F	-0.08%
	LOGI	F	-0.06%
	MT	B	-0.05%
	BTI	D	-0.04%
	FOX	A	-0.01%
	MBAVU	C	-0.01%
	SE	C	-0.01%
	WFG	D	-0.01%
	NMR	D	-0.01%
	GLBE	B	-0.0%
	IOT	B	-0.0%
	NET	B	-0.0%
	RBLX	A	-0.0%
	DKNG	D	-0.0%
	DDOG	B	-0.0%
	FUTU	C	-0.0%
	DOCU	A	-0.0%
	MSTR	B	-0.0%
	GRAB	B	-0.0%
	HOOD	A	-0.0%
	CRWD	B	-0.0%
	AXON	A	-0.0%
	RIVN	F	-0.0%
	QGEN	D	-0.0%
	OTEX	F	-0.0%

FNDB: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Software - Application Business Services Asset Management Specialty Retail Oil & Gas E&P Specialty Chemicals REIT - Diversified Packaged Foods Semiconductors Utilities - Regulated Electric Insurance - Property & Casualty Building Materials Capital Markets Diagnostics & Research Engineering & Construction Restaurants Auto Parts Information Technology Services

Keywords: S&P 500 Bank Banking Nasdaq 100 Real Estate Investment Trust Natural Gas Insurance Computing Chemical Mining Electronics Aerospace Deposit Products Telecommunications Electricity Semiconductor Construction Medicine Transport Commercial Banking

QWLD: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Semiconductors Asset Management Capital Markets Oil & Gas E&P Software - Infrastructure Specialty Retail Aerospace & Defense Banks - Regional - US Drug Manufacturers - Major REIT - Residential Specialty Chemicals Biotechnology Insurance - Property & Casualty Packaged Foods Banks - Global

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Dow Jones Component Electronics Bank Chemical Telecommunications Aerospace Banking Real Estate Investment Trust Medicine Insurance Products Semiconductor Cloud Computing Mining Mobile Devices