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

$24.23

Average Daily Volume

90,592

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

$127.97

Average Daily Volume

3,476

Number of Holdings ^*

610

* may have additional holdings in another (foreign) market

Performance

Period	FNDB	QWLD
30 Days	2.63%	-0.47%
60 Days	4.40%	0.20%
90 Days	5.85%	0.50%
12 Months	28.74%	22.20%

569 Overlapping Holdings

	Symbol	Grade	Weight in FNDB	Weight in QWLD	Overlap
	A	D	0.05%	0.06%	0.05%
	AAPL	C	4.01%	2.57%	2.57%
	ABBV	F	0.45%	0.16%	0.16%
	ABBV	F	0.45%	0.34%	0.34%
	ABNB	C	0.01%	0.01%	0.01%
	ABT	B	0.32%	0.09%	0.09%
	ACGL	C	0.03%	0.26%	0.03%
	ACI	C	0.02%	0.02%	0.02%
	ACM	B	0.04%	0.01%	0.01%
	ACN	B	0.33%	0.65%	0.33%
	ADBE	C	0.17%	0.42%	0.17%
	ADI	D	0.12%	0.04%	0.04%
	ADM	D	0.2%	0.05%	0.05%
	ADP	A	0.14%	0.26%	0.14%
	ADSK	A	0.03%	0.1%	0.03%
	AEE	A	0.07%	0.09%	0.07%
	AEP	C	0.15%	0.07%	0.07%
	AER	A	0.02%	0.02%	0.02%
	AES	F	0.05%	0.01%	0.01%
	AFG	A	0.04%	0.02%	0.02%
	AFL	B	0.2%	0.12%	0.12%
	AGCO	D	0.03%	0.01%	0.01%
	AIG	B	0.26%	0.07%	0.07%
	AIZ	A	0.03%	0.08%	0.03%
	AJG	A	0.05%	0.19%	0.05%
	AKAM	D	0.03%	0.11%	0.03%
	ALB	B	0.03%	0.01%	0.01%
	ALGN	D	0.02%	0.0%	0.0%
	ALL	A	0.25%	0.08%	0.08%
	ALLE	C	0.01%	0.02%	0.01%
	ALLY	C	0.09%	0.02%	0.02%
	AMAT	F	0.2%	0.29%	0.2%
	AMCR	C	0.03%	0.08%	0.03%
	AMD	F	0.08%	0.03%	0.03%
	AME	A	0.05%	0.01%	0.01%
	AMGN	F	0.35%	0.16%	0.16%
	AMH	C	0.01%	0.0%	0.0%
	AMP	A	0.14%	0.09%	0.09%
	AMT	C	0.11%	0.02%	0.02%
	AMZN	C	1.4%	0.37%	0.37%
	ANET	C	0.03%	0.19%	0.03%
	ANSS	B	0.02%	0.0%	0.0%
	AON	A	0.12%	0.17%	0.12%
	AOS	F	0.02%	0.02%	0.02%
	APA	D	0.03%	0.02%	0.02%
	APD	A	0.12%	0.03%	0.03%
	APH	A	0.08%	0.43%	0.08%
	APO	B	0.04%	0.02%	0.02%
	APP	B	0.02%	0.0%	0.0%
	APTV	F	0.02%	0.01%	0.01%
	ARE	F	0.03%	0.01%	0.01%
	ARES	A	0.01%	0.0%	0.0%
	ATO	A	0.04%	0.01%	0.01%
	AVB	B	0.05%	0.01%	0.01%
	AVGO	D	0.55%	0.11%	0.11%
	AVTR	F	0.02%	0.01%	0.01%
	AVY	F	0.03%	0.03%	0.03%
	AWK	C	0.04%	0.01%	0.01%
	AXP	A	0.33%	0.06%	0.06%
	AZO	C	0.05%	0.28%	0.05%
	BA	F	0.1%	0.01%	0.01%
	BAC	A	1.23%	0.39%	0.39%
	BAH	F	0.03%	0.15%	0.03%
	BALL	F	0.05%	0.01%	0.01%
	BAX	F	0.06%	0.01%	0.01%
	BBWI	C	0.03%	0.0%	0.0%
	BBY	D	0.15%	0.06%	0.06%
	BDX	F	0.1%	0.07%	0.07%
	BEN	C	0.04%	0.01%	0.01%
	BG	D	0.1%	0.03%	0.03%
	BIIB	F	0.08%	0.01%	0.01%
	BIO	C	0.01%	0.0%	0.0%
	BK	A	0.25%	0.05%	0.05%
	BKNG	A	0.23%	0.03%	0.03%
	BKR	A	0.15%	0.02%	0.02%
	BLDR	D	0.05%	0.05%	0.05%
	BLK	B	0.26%	0.25%	0.25%
	BMRN	F	0.01%	0.07%	0.01%
	BMY	B	0.4%	0.21%	0.21%
	BR	A	0.03%	0.04%	0.03%
	BRK.A	B	2.05%	0.73%	0.73%
	BRO	B	0.02%	0.14%	0.02%
	BSX	A	0.08%	0.02%	0.02%
	BSY	F	0.0%	0.01%	0.0%
	BURL	B	0.03%	0.01%	0.01%
	BX	A	0.12%	0.03%	0.03%
	BXP	C	0.05%	0.01%	0.01%
	C	A	1.04%	0.25%	0.25%
	CAG	F	0.05%	0.04%	0.04%
	CAH	B	0.07%	0.13%	0.07%
	CARR	C	0.11%	0.02%	0.02%
	CAT	B	0.38%	0.36%	0.36%
	CB	C	0.25%	0.4%	0.25%
	CBOE	C	0.01%	0.24%	0.01%
	CBRE	B	0.12%	0.03%	0.03%
	CCEP	C	0.02%	0.01%	0.01%
	CCI	C	0.09%	0.01%	0.01%
	CCK	D	0.04%	0.01%	0.01%
	CCL	A	0.06%	0.01%	0.01%
	CDNS	B	0.03%	0.13%	0.03%
	CDW	F	0.04%	0.07%	0.04%
	CE	F	0.03%	0.01%	0.01%
	CEG	C	0.09%	0.02%	0.02%
	CF	A	0.06%	0.13%	0.06%
	CFG	B	0.1%	0.04%	0.04%
	CG	B	0.03%	0.01%	0.01%
	CHD	A	0.04%	0.19%	0.04%
	CHKP	C	0.02%	0.17%	0.02%
	CHRD	D	0.01%	0.01%	0.01%
	CHRW	B	0.07%	0.01%	0.01%
	CHTR	C	0.32%	0.05%	0.05%
	CI	D	0.44%	0.18%	0.18%
	CINF	A	0.07%	0.02%	0.02%
	CL	D	0.12%	0.2%	0.12%
	CLX	A	0.04%	0.01%	0.01%
	CMCSA	B	0.76%	0.17%	0.17%
	CME	B	0.07%	0.16%	0.07%
	CMG	B	0.03%	0.14%	0.03%
	CMI	A	0.18%	0.1%	0.1%
	CMS	C	0.06%	0.05%	0.05%
	CNC	D	0.18%	0.05%	0.05%
	CNH	C	0.02%	0.01%	0.01%
	CNP	A	0.06%	0.01%	0.01%
	COF	C	0.45%	0.1%	0.1%
	COIN	C	0.03%	0.01%	0.01%
	COP	C	0.45%	0.1%	0.1%
	COR	B	0.02%	0.41%	0.02%
	COST	A	0.61%	0.76%	0.61%
	CPAY	A	0.05%	0.01%	0.01%
	CPB	D	0.03%	0.09%	0.03%
	CPRT	B	0.03%	0.08%	0.03%
	CPT	B	0.02%	0.01%	0.01%
	CRBG	B	0.04%	0.01%	0.01%
	CRL	D	0.01%	0.0%	0.0%
	CRM	B	0.14%	0.06%	0.06%
	CSCO	B	0.76%	1.03%	0.76%
	CSGP	D	0.01%	0.0%	0.0%
	CSL	C	0.04%	0.03%	0.03%
	CSX	C	0.2%	0.11%	0.11%
	CTAS	B	0.08%	0.14%	0.08%
	CTLT	C	0.02%	0.01%	0.01%
	CTRA	B	0.03%	0.02%	0.02%
	CTSH	B	0.17%	0.2%	0.17%
	CTVA	C	0.08%	0.04%	0.04%
	CVS	D	0.61%	0.16%	0.16%
	CVX	A	1.17%	0.33%	0.33%
	D	C	0.17%	0.06%	0.06%
	DAL	B	0.03%	0.01%	0.01%
	DASH	B	0.01%	0.01%	0.01%
	DAY	B	0.0%	0.0%	0.0%
	DD	C	0.16%	0.02%	0.02%
	DE	B	0.22%	0.06%	0.06%
	DECK	A	0.03%	0.05%	0.03%
	DELL	B	0.02%	0.01%	0.01%
	DFS	B	0.24%	0.04%	0.04%
	DG	F	0.07%	0.01%	0.01%
	DGX	A	0.07%	0.11%	0.07%
	DHI	F	0.15%	0.1%	0.1%
	DHR	F	0.13%	0.05%	0.05%
	DINO	D	0.05%	0.05%	0.05%
	DIS	B	0.45%	0.1%	0.1%
	DKS	D	0.04%	0.02%	0.02%
	DLR	B	0.08%	0.02%	0.02%
	DLTR	F	0.04%	0.01%	0.01%
	DOC	C	0.03%	0.01%	0.01%
	DOV	A	0.06%	0.05%	0.05%
	DOW	F	0.17%	0.03%	0.03%
	DPZ	C	0.03%	0.06%	0.03%
	DRI	B	0.05%	0.03%	0.03%
	DT	D	0.0%	0.0%	0.0%
	DTE	C	0.07%	0.02%	0.02%
	DUK	C	0.28%	0.36%	0.28%
	DVA	C	0.05%	0.01%	0.01%
	DVN	F	0.08%	0.03%	0.03%
	DXCM	C	0.01%	0.0%	0.0%
	EA	A	0.08%	0.2%	0.08%
	EBAY	D	0.16%	0.01%	0.01%
	ECL	D	0.08%	0.01%	0.01%
	ED	C	0.11%	0.35%	0.11%
	EFX	F	0.03%	0.01%	0.01%
	EG	C	0.02%	0.06%	0.02%
	EIX	B	0.09%	0.03%	0.03%
	EL	F	0.03%	0.01%	0.01%
	ELS	C	0.01%	0.0%	0.0%
	ELV	F	0.33%	0.21%	0.21%
	EME	A	0.06%	0.04%	0.04%
	EMN	C	0.07%	0.01%	0.01%
	EMR	B	0.16%	0.03%	0.03%
	ENPH	F	0.0%	0.01%	0.0%
	ENTG	D	0.01%	0.0%	0.0%
	EOG	A	0.22%	0.06%	0.06%
	EPAM	B	0.02%	0.02%	0.02%
	EQH	C	0.05%	0.01%	0.01%
	EQIX	A	0.08%	0.02%	0.02%
	EQR	C	0.05%	0.01%	0.01%
	EQT	B	0.04%	0.02%	0.02%
	ERIE	D	0.0%	0.12%	0.0%
	ES	C	0.07%	0.01%	0.01%
	ESS	B	0.03%	0.01%	0.01%
	ETN	A	0.21%	0.03%	0.03%
	ETR	B	0.11%	0.03%	0.03%
	EVRG	A	0.07%	0.01%	0.01%
	EW	C	0.04%	0.07%	0.04%
	EXAS	D	0.0%	0.0%	0.0%
	EXC	C	0.16%	0.03%	0.03%
	EXPD	C	0.04%	0.04%	0.04%
	EXPE	B	0.03%	0.01%	0.01%
	EXR	C	0.03%	0.01%	0.01%
	F	C	0.31%	0.09%	0.09%
	FANG	C	0.05%	0.09%	0.05%
	FAST	B	0.07%	0.09%	0.07%
	FBIN	D	0.03%	0.0%	0.0%
	FCNCA	A	0.02%	0.11%	0.02%
	FCX	F	0.13%	0.02%	0.02%
	FDS	B	0.01%	0.03%	0.01%
	FDX	B	0.3%	0.07%	0.07%
	FE	C	0.08%	0.01%	0.01%
	FFIV	B	0.03%	0.16%	0.03%
	FI	A	0.12%	0.09%	0.09%
	FICO	B	0.03%	0.05%	0.03%
	FIS	C	0.11%	0.02%	0.02%
	FITB	B	0.12%	0.03%	0.03%
	FNF	B	0.06%	0.01%	0.01%
	FOXA	A	0.09%	0.01%	0.01%
	FSLR	F	0.02%	0.01%	0.01%
	FTNT	C	0.03%	0.01%	0.01%
	FTV	C	0.03%	0.01%	0.01%
	GD	D	0.19%	0.18%	0.18%
	GDDY	A	0.03%	0.25%	0.03%
	GE	D	0.14%	0.31%	0.14%
	GEHC	D	0.09%	0.02%	0.02%
	GEN	B	0.04%	0.12%	0.04%
	GEV	B	0.04%	0.02%	0.02%
	GGG	B	0.02%	0.03%	0.02%
	GILD	C	0.33%	0.24%	0.24%
	GIS	D	0.1%	0.33%	0.1%
	GLPI	C	0.02%	0.01%	0.01%
	GLW	B	0.13%	0.02%	0.02%
	GM	C	0.73%	0.19%	0.19%
	GOOG	C	1.05%	0.94%	0.94%
	GOOGL	C	1.22%	1.07%	1.07%
	GPC	D	0.05%	0.05%	0.05%
	GPN	B	0.08%	0.02%	0.02%
	GRMN	B	0.03%	0.05%	0.03%
	GS	A	0.58%	0.17%	0.17%
	GWW	B	0.08%	0.11%	0.08%
	H	B	0.01%	0.0%	0.0%
	HAL	C	0.06%	0.02%	0.02%
	HBAN	A	0.07%	0.03%	0.03%
	HCA	F	0.19%	0.04%	0.04%
	HD	B	0.75%	0.15%	0.15%
	HEI	A	0.02%	0.0%	0.0%
	HEI	A	0.02%	0.0%	0.0%
	HES	B	0.05%	0.01%	0.01%
	HIG	B	0.13%	0.03%	0.03%
	HII	F	0.03%	0.01%	0.01%
	HLT	A	0.06%	0.01%	0.01%
	HOLX	D	0.04%	0.01%	0.01%
	HON	C	0.34%	0.26%	0.26%
	HPE	B	0.2%	0.04%	0.04%
	HPQ	B	0.19%	0.04%	0.04%
	HRL	D	0.03%	0.09%	0.03%
	HSIC	C	0.04%	0.01%	0.01%
	HST	C	0.04%	0.01%	0.01%
	HSY	F	0.03%	0.16%	0.03%
	HUBB	B	0.03%	0.04%	0.03%
	HUM	C	0.17%	0.15%	0.15%
	HWM	A	0.06%	0.01%	0.01%
	IBM	C	0.5%	0.46%	0.46%
	ICE	C	0.1%	0.03%	0.03%
	IDXX	F	0.02%	0.07%	0.02%
	IEX	C	0.02%	0.03%	0.02%
	IFF	D	0.04%	0.01%	0.01%
	ILMN	C	0.02%	0.0%	0.0%
	INCY	C	0.02%	0.15%	0.02%
	INTC	C	0.81%	0.1%	0.1%
	INTU	B	0.1%	0.27%	0.1%
	INVH	D	0.02%	0.01%	0.01%
	IP	A	0.16%	0.02%	0.02%
	IPG	D	0.03%	0.02%	0.02%
	IQV	F	0.06%	0.01%	0.01%
	IR	B	0.03%	0.01%	0.01%
	IRM	C	0.06%	0.01%	0.01%
	ISRG	A	0.08%	0.25%	0.08%
	IT	C	0.03%	0.03%	0.03%
	ITW	B	0.14%	0.13%	0.13%
	J	D	0.05%	0.01%	0.01%
	JBHT	C	0.04%	0.03%	0.03%
	JBL	C	0.06%	0.02%	0.02%
	JCI	B	0.15%	0.03%	0.03%
	JKHY	D	0.02%	0.07%	0.02%
	JNJ	C	0.85%	1.1%	0.85%
	JNPR	D	0.04%	0.12%	0.04%
	JPM	A	1.93%	0.6%	0.6%
	K	A	0.06%	0.23%	0.06%
	KDP	F	0.06%	0.14%	0.06%
	KEY	B	0.1%	0.02%	0.02%
	KEYS	A	0.03%	0.17%	0.03%
	KHC	F	0.09%	0.2%	0.09%
	KIM	A	0.03%	0.01%	0.01%
	KKR	A	0.11%	0.02%	0.02%
	KLAC	F	0.07%	0.14%	0.07%
	KMB	C	0.09%	0.11%	0.09%
	KMI	A	0.22%	0.04%	0.04%
	KMX	B	0.06%	0.02%	0.02%
	KNX	C	0.04%	0.01%	0.01%
	KO	D	0.32%	0.56%	0.32%
	KR	B	0.28%	0.31%	0.28%
	KVUE	A	0.05%	0.08%	0.05%
	L	A	0.05%	0.17%	0.05%
	LDOS	C	0.07%	0.01%	0.01%
	LEN	D	0.15%	0.09%	0.09%
	LH	B	0.09%	0.02%	0.02%
	LHX	C	0.15%	0.02%	0.02%
	LII	A	0.03%	0.0%	0.0%
	LIN	C	0.31%	0.06%	0.06%
	LKQ	F	0.05%	0.01%	0.01%
	LLY	F	0.18%	1.14%	0.18%
	LMT	D	0.34%	0.42%	0.34%
	LNG	A	0.06%	0.06%	0.06%
	LNT	A	0.04%	0.03%	0.03%
	LOW	C	0.4%	0.07%	0.07%
	LPLA	A	0.04%	0.05%	0.04%
	LRCX	F	0.13%	0.18%	0.13%
	LULU	C	0.01%	0.07%	0.01%
	LUV	C	0.02%	0.0%	0.0%
	LVS	B	0.03%	0.0%	0.0%
	LW	C	0.02%	0.0%	0.0%
	LYB	F	0.13%	0.03%	0.03%
	LYV	A	0.0%	0.0%	0.0%
	MA	B	0.27%	0.71%	0.27%
	MAA	B	0.03%	0.01%	0.01%
	MANH	D	0.01%	0.04%	0.01%
	MAR	A	0.08%	0.01%	0.01%
	MAS	D	0.05%	0.01%	0.01%
	MCD	D	0.31%	0.42%	0.31%
	MCHP	F	0.04%	0.06%	0.04%
	MCK	A	0.1%	0.58%	0.1%
	MCO	B	0.06%	0.13%	0.06%
	MDLZ	F	0.18%	0.14%	0.14%
	MDT	D	0.16%	0.06%	0.06%
	MELI	C	0.0%	0.01%	0.0%
	MET	A	0.24%	0.05%	0.05%
	META	D	1.6%	2.11%	1.6%
	MGM	D	0.05%	0.01%	0.01%
	MKC	C	0.03%	0.01%	0.01%
	MKL	A	0.04%	0.13%	0.04%
	MKTX	D	0.01%	0.02%	0.01%
	MLM	C	0.04%	0.01%	0.01%
	MMC	B	0.13%	0.51%	0.13%
	MMM	D	0.32%	0.14%	0.14%
	MNST	C	0.04%	0.07%	0.04%
	MO	A	0.35%	0.04%	0.04%
	MOH	F	0.04%	0.06%	0.04%
	MOS	F	0.06%	0.02%	0.02%
	MPC	D	0.37%	0.17%	0.17%
	MPWR	F	0.01%	0.04%	0.01%
	MRK	D	0.39%	0.42%	0.39%
	MRNA	F	0.02%	0.01%	0.01%
	MRO	B	0.08%	0.02%	0.02%
	MRVL	B	0.04%	0.01%	0.01%
	MS	A	0.44%	0.12%	0.12%
	MSCI	C	0.03%	0.0%	0.0%
	MSFT	D	2.21%	2.3%	2.21%
	MSI	B	0.06%	0.65%	0.06%
	MTB	A	0.1%	0.05%	0.05%
	MTCH	D	0.01%	0.0%	0.0%
	MU	D	0.34%	0.04%	0.04%
	NBIX	C	0.0%	0.11%	0.0%
	NDAQ	A	0.03%	0.01%	0.01%
	NDSN	B	0.02%	0.02%	0.02%
	NEE	C	0.23%	0.06%	0.06%
	NEM	D	0.12%	0.04%	0.04%
	NFLX	A	0.16%	0.54%	0.16%
	NI	A	0.04%	0.01%	0.01%
	NKE	F	0.18%	0.17%	0.17%
	NOC	D	0.18%	0.32%	0.18%
	NOW	A	0.02%	0.01%	0.01%
	NRG	B	0.1%	0.02%	0.02%
	NSC	B	0.19%	0.03%	0.03%
	NTAP	C	0.07%	0.04%	0.04%
	NTRS	A	0.07%	0.02%	0.02%
	NUE	C	0.18%	0.04%	0.04%
	NVDA	B	0.36%	2.53%	0.36%
	NVR	D	0.07%	0.06%	0.06%
	NWSA	A	0.04%	0.01%	0.01%
	NXPI	D	0.04%	0.02%	0.02%
	O	C	0.03%	0.02%	0.02%
	OC	A	0.06%	0.03%	0.03%
	ODFL	C	0.05%	0.08%	0.05%
	OKE	A	0.13%	0.03%	0.03%
	OKTA	C	0.0%	0.0%	0.0%
	OMC	C	0.07%	0.04%	0.04%
	ON	D	0.03%	0.01%	0.01%
	ORCL	A	0.46%	0.25%	0.25%
	ORLY	B	0.1%	0.24%	0.1%
	OTIS	C	0.05%	0.01%	0.01%
	OVV	B	0.05%	0.02%	0.02%
	OXY	D	0.1%	0.03%	0.03%
	PANW	B	0.03%	0.18%	0.03%
	PARA	C	0.1%	0.01%	0.01%
	PAYC	B	0.01%	0.02%	0.01%
	PAYX	B	0.06%	0.1%	0.06%
	PCAR	B	0.14%	0.11%	0.11%
	PCG	A	0.03%	0.03%	0.03%
	PEG	A	0.1%	0.02%	0.02%
	PEP	F	0.37%	0.77%	0.37%
	PFE	F	0.61%	0.18%	0.18%
	PFG	D	0.08%	0.02%	0.02%
	PG	C	0.73%	0.95%	0.73%
	PGR	A	0.22%	0.35%	0.22%
	PH	A	0.12%	0.02%	0.02%
	PHM	D	0.1%	0.06%	0.06%
	PINS	F	0.01%	0.0%	0.0%
	PKG	A	0.07%	0.04%	0.04%
	PLD	F	0.07%	0.04%	0.04%
	PLTR	B	0.01%	0.0%	0.0%
	PM	B	0.45%	0.07%	0.07%
	PNC	B	0.28%	0.1%	0.1%
	PNR	A	0.03%	0.03%	0.03%
	PODD	C	0.0%	0.0%	0.0%
	POOL	C	0.02%	0.03%	0.02%
	PPG	F	0.08%	0.01%	0.01%
	PPL	A	0.1%	0.01%	0.01%
	PRU	A	0.21%	0.05%	0.05%
	PSA	C	0.05%	0.09%	0.05%
	PSTG	D	0.0%	0.0%	0.0%
	PSX	C	0.34%	0.14%	0.14%
	PTC	B	0.01%	0.08%	0.01%
	PWR	A	0.07%	0.01%	0.01%
	PYPL	B	0.21%	0.04%	0.04%
	QCOM	F	0.39%	0.32%	0.32%
	QRVO	F	0.03%	0.0%	0.0%
	RCL	A	0.03%	0.01%	0.01%
	REG	A	0.02%	0.01%	0.01%
	REGN	F	0.09%	0.31%	0.09%
	RF	A	0.08%	0.03%	0.03%
	RJF	A	0.05%	0.02%	0.02%
	RMD	C	0.03%	0.05%	0.03%
	ROK	C	0.05%	0.06%	0.05%
	ROKU	D	0.01%	0.0%	0.0%
	ROL	B	0.01%	0.08%	0.01%
	ROP	B	0.05%	0.48%	0.05%
	ROST	D	0.07%	0.02%	0.02%
	RPM	A	0.04%	0.01%	0.01%
	RPRX	D	0.01%	0.01%	0.01%
	RS	B	0.08%	0.02%	0.02%
	RSG	A	0.06%	0.46%	0.06%
	RTX	D	0.31%	0.09%	0.09%
	RVTY	F	0.02%	0.01%	0.01%
	SBAC	D	0.02%	0.01%	0.01%
	SBUX	A	0.26%	0.04%	0.04%
	SCHW	B	0.12%	0.04%	0.04%
	SEIC	B	0.03%	0.02%	0.02%
	SHW	B	0.08%	0.14%	0.08%
	SJM	D	0.05%	0.07%	0.05%
	SLB	C	0.11%	0.03%	0.03%
	SMCI	F	0.0%	0.01%	0.0%
	SNA	A	0.05%	0.04%	0.04%
	SNAP	D	0.0%	0.0%	0.0%
	SNOW	B	0.0%	0.0%	0.0%
	SNPS	B	0.03%	0.12%	0.03%
	SO	C	0.24%	0.46%	0.24%
	SOLV	D	0.02%	0.03%	0.02%
	SPG	A	0.1%	0.02%	0.02%
	SPGI	C	0.13%	0.04%	0.04%
	SQ	A	0.03%	0.02%	0.02%
	SRE	A	0.12%	0.04%	0.04%
	SSNC	B	0.03%	0.01%	0.01%
	STE	D	0.03%	0.01%	0.01%
	STLD	B	0.11%	0.02%	0.02%
	STT	B	0.09%	0.03%	0.03%
	STX	C	0.08%	0.01%	0.01%
	STZ	D	0.07%	0.01%	0.01%
	SUI	C	0.02%	0.01%	0.01%
	SW	A	0.08%	0.03%	0.03%
	SWK	D	0.06%	0.01%	0.01%
	SWKS	F	0.04%	0.03%	0.03%
	SYF	B	0.32%	0.04%	0.04%
	SYK	B	0.12%	0.03%	0.03%
	SYY	D	0.09%	0.03%	0.03%
	T	A	1.21%	0.39%	0.39%
	TAP	C	0.05%	0.01%	0.01%
	TDG	D	0.06%	0.01%	0.01%
	TDY	B	0.02%	0.06%	0.02%
	TECH	F	0.01%	0.0%	0.0%
	TER	F	0.03%	0.02%	0.02%
	TFC	A	0.21%	0.09%	0.09%
	TFX	F	0.02%	0.0%	0.0%
	TGT	F	0.35%	0.15%	0.15%
	TJX	A	0.21%	0.35%	0.21%
	TMO	F	0.22%	0.06%	0.06%
	TMUS	B	0.23%	0.76%	0.23%
	TOST	B	0.0%	0.0%	0.0%
	TPL	A	0.01%	0.06%	0.01%
	TRGP	A	0.07%	0.04%	0.04%
	TRMB	B	0.03%	0.01%	0.01%
	TROW	B	0.12%	0.05%	0.05%
	TRU	D	0.02%	0.01%	0.01%
	TRV	B	0.29%	0.3%	0.29%
	TSCO	D	0.05%	0.06%	0.05%
	TSLA	B	0.27%	0.16%	0.16%
	TSN	B	0.19%	0.15%	0.15%
	TT	A	0.06%	0.15%	0.06%
	TTC	C	0.02%	0.02%	0.02%
	TTD	B	0.01%	0.0%	0.0%
	TTWO	A	0.03%	0.01%	0.01%
	TW	A	0.01%	0.0%	0.0%
	TWLO	A	0.01%	0.01%	0.01%
	TXN	C	0.31%	0.48%	0.31%
	TXT	D	0.05%	0.01%	0.01%
	TYL	B	0.01%	0.0%	0.0%
	UBER	F	0.03%	0.01%	0.01%
	UDR	B	0.02%	0.0%	0.0%
	UHAL	D	0.02%	0.0%	0.0%
	UHS	D	0.07%	0.01%	0.01%
	ULTA	F	0.03%	0.06%	0.03%
	UNH	B	1.14%	1.35%	1.14%
	UNP	C	0.33%	0.26%	0.26%
	UPS	C	0.27%	0.07%	0.07%
	URI	C	0.12%	0.02%	0.02%
	USB	A	0.3%	0.09%	0.09%
	UTHR	C	0.02%	0.15%	0.02%
	V	A	0.34%	1.21%	0.34%
	VEEV	C	0.01%	0.05%	0.01%
	VICI	C	0.02%	0.02%	0.02%
	VLO	C	0.36%	0.08%	0.08%
	VLTO	C	0.02%	0.05%	0.02%
	VMC	B	0.04%	0.01%	0.01%
	VRSK	A	0.04%	0.01%	0.01%
	VRSN	C	0.01%	0.14%	0.01%
	VRT	B	0.02%	0.0%	0.0%
	VRTX	D	0.07%	0.43%	0.07%
	VST	A	0.15%	0.01%	0.01%
	VTR	B	0.07%	0.01%	0.01%
	VTRS	A	0.09%	0.03%	0.03%
	VZ	C	1.08%	0.58%	0.58%
	WAB	B	0.06%	0.01%	0.01%
	WAT	C	0.03%	0.04%	0.03%
	WBA	F	0.15%	0.04%	0.04%
	WBD	B	0.07%	0.07%	0.07%
	WDAY	B	0.01%	0.04%	0.01%
	WDC	D	0.11%	0.01%	0.01%
	WEC	A	0.08%	0.2%	0.08%
	WELL	A	0.1%	0.02%	0.02%
	WFC	A	1.29%	0.28%	0.28%
	WLK	D	0.01%	0.0%	0.0%
	WM	B	0.14%	0.52%	0.14%
	WMB	A	0.16%	0.19%	0.16%
	WMT	A	1.37%	0.76%	0.76%
	WPC	C	0.02%	0.01%	0.01%
	WRB	A	0.03%	0.14%	0.03%
	WSM	C	0.04%	0.03%	0.03%
	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	B	0.06%	0.07%	0.06%
	WY	F	0.09%	0.02%	0.02%
	WYNN	C	0.01%	0.0%	0.0%
	XEL	A	0.12%	0.09%	0.09%
	XOM	B	1.84%	0.47%	0.47%
	XRX	F	0.02%	0.0%	0.0%
	XYL	D	0.03%	0.01%	0.01%
	YUM	D	0.07%	0.15%	0.07%
	Z	A	0.02%	0.0%	0.0%
	ZBH	C	0.05%	0.01%	0.01%
	ZBRA	B	0.04%	0.01%	0.01%
	ZM	C	0.02%	0.01%	0.01%
	ZTS	D	0.07%	0.15%	0.07%

FNDB Overweight 1101 Positions Relative to QWLD

	Symbol	Grade	Weight
	LUMN	C	0.6%
	WKC	C	0.08%
	JLL	D	0.08%
	R	B	0.07%
	X	B	0.07%
	LAD	A	0.07%
	AVT	C	0.07%
	USFD	A	0.07%
	ARW	D	0.07%
	WHR	B	0.07%
	ZION	B	0.06%
	UNM	A	0.06%
	PFGC	B	0.06%
	MHK	D	0.06%
	FLEX	B	0.06%
	OMF	A	0.06%
	KSS	F	0.06%
	AA	A	0.06%
	VFC	C	0.06%
	CMA	B	0.06%
	THC	D	0.06%
	DXC	B	0.05%
	AN	C	0.05%
	KD	B	0.05%
	ALSN	B	0.05%
	LEA	F	0.05%
	CASY	A	0.05%
	GPI	B	0.05%
	BWA	D	0.05%
	TPR	B	0.05%
	TDS	B	0.05%
	SFM	A	0.05%
	LNC	C	0.05%
	TOL	B	0.05%
	M	F	0.05%
	BFH	C	0.05%
	JEF	A	0.05%
	SIRI	C	0.05%
	DOX	D	0.04%
	FYBR	C	0.04%
	CNO	B	0.04%
	ZIM	C	0.04%
	TMHC	C	0.04%
	SLM	A	0.04%
	RHI	C	0.04%
	GT	C	0.04%
	RGA	A	0.04%
	PVH	C	0.04%
	FAF	A	0.04%
	WCC	B	0.04%
	AYI	B	0.04%
	MUSA	B	0.04%
	BERY	C	0.04%
	OGN	F	0.04%
	MAN	F	0.04%
	PNW	A	0.04%
	EVR	B	0.04%
	THO	B	0.04%
	JXN	C	0.04%
	INGR	C	0.04%
	VNO	C	0.04%
	UGI	C	0.04%
	ORI	A	0.04%
	IVZ	B	0.04%
	CW	C	0.03%
	TPH	D	0.03%
	G	B	0.03%
	ITT	A	0.03%
	KBH	D	0.03%
	SNX	D	0.03%
	BC	C	0.03%
	ABG	C	0.03%
	CNX	A	0.03%
	FLR	B	0.03%
	CAR	C	0.03%
	MTD	F	0.03%
	SNV	C	0.03%
	ARMK	B	0.03%
	VOYA	B	0.03%
	CACI	D	0.03%
	GPK	C	0.03%
	HAS	D	0.03%
	CLF	F	0.03%
	RRX	B	0.03%
	SATS	D	0.03%
	RL	C	0.03%
	FL	F	0.03%
	OGE	A	0.03%
	JHG	B	0.03%
	CIEN	C	0.03%
	MTH	D	0.03%
	NXST	C	0.03%
	EWBC	A	0.03%
	UAL	A	0.03%
	SLG	B	0.03%
	GNW	A	0.03%
	WU	F	0.03%
	OLN	F	0.03%
	CMC	B	0.03%
	MTZ	B	0.03%
	PBF	D	0.03%
	GEO	B	0.03%
	FHN	A	0.03%
	HUN	F	0.03%
	SANM	B	0.03%
	NWL	C	0.03%
	MLI	B	0.03%
	GL	C	0.03%
	GAP	C	0.03%
	OSK	C	0.03%
	LPX	B	0.03%
	HBI	B	0.03%
	BCC	B	0.03%
	AMG	B	0.03%
	UFPI	C	0.03%
	TPC	C	0.02%
	ESI	B	0.02%
	UNIT	B	0.02%
	CBSH	B	0.02%
	KRC	B	0.02%
	MMS	F	0.02%
	BYD	B	0.02%
	MSM	C	0.02%
	SPOT	B	0.02%
	SPB	C	0.02%
	FLO	D	0.02%
	GMS	B	0.02%
	BLD	D	0.02%
	DEI	B	0.02%
	IDA	A	0.02%
	BHE	C	0.02%
	CHE	D	0.02%
	CBT	D	0.02%
	CR	A	0.02%
	VIRT	A	0.02%
	AVNT	B	0.02%
	FDP	B	0.02%
	COOP	B	0.02%
	ASB	B	0.02%
	MPW	F	0.02%
	TTMI	C	0.02%
	LOPE	C	0.02%
	CADE	B	0.02%
	LEG	F	0.02%
	DBX	B	0.02%
	MOG.A	B	0.02%
	MKSI	C	0.02%
	GATX	A	0.02%
	SEM	B	0.02%
	KBR	F	0.02%
	BPOP	C	0.02%
	MIDD	C	0.02%
	ARCH	B	0.02%
	CFR	B	0.02%
	SIG	B	0.02%
	WH	B	0.02%
	WTFC	A	0.02%
	NSIT	F	0.02%
	TKR	D	0.02%
	AWI	A	0.02%
	FNB	A	0.02%
	SAIA	B	0.02%
	FRT	B	0.02%
	PB	B	0.02%
	BKH	A	0.02%
	LITE	B	0.02%
	VAC	C	0.02%
	GHC	B	0.02%
	DTM	A	0.02%
	SKYW	C	0.02%
	PNFP	B	0.02%
	ASO	F	0.02%
	WERN	C	0.02%
	POR	C	0.02%
	ASGN	F	0.02%
	GVA	A	0.02%
	SLVM	B	0.02%
	RDN	D	0.02%
	PLXS	B	0.02%
	FIX	A	0.02%
	JAZZ	B	0.02%
	PRG	C	0.02%
	DY	D	0.02%
	OI	C	0.02%
	CZR	F	0.02%
	POST	C	0.02%
	UAA	C	0.02%
	SM	B	0.02%
	WWD	C	0.02%
	VMI	B	0.02%
	NAVI	F	0.02%
	BWXT	B	0.02%
	MHO	D	0.02%
	SWX	B	0.02%
	ST	F	0.02%
	AL	B	0.02%
	MATX	C	0.02%
	WBS	A	0.02%
	NFG	A	0.02%
	CLH	C	0.02%
	TPX	B	0.02%
	MUR	D	0.02%
	CRS	B	0.02%
	OHI	C	0.02%
	LECO	C	0.02%
	HCC	B	0.02%
	PII	F	0.02%
	STWD	C	0.02%
	AIT	B	0.02%
	ALK	B	0.02%
	PAG	B	0.02%
	HUBG	A	0.02%
	GXO	B	0.02%
	WAL	B	0.02%
	NOV	C	0.02%
	HRI	C	0.02%
	MAC	B	0.02%
	PENN	C	0.02%
	KMPR	A	0.02%
	BECN	B	0.02%
	DCI	B	0.02%
	HOG	D	0.02%
	TXRH	B	0.02%
	JWN	D	0.02%
	NVT	B	0.02%
	LAMR	C	0.02%
	CXW	C	0.02%
	CC	C	0.02%
	FTI	A	0.02%
	BKU	A	0.02%
	TNL	A	0.02%
	VSCO	C	0.02%
	XPO	B	0.02%
	SKX	D	0.02%
	HRB	D	0.02%
	FLS	B	0.02%
	PK	C	0.02%
	ABM	B	0.02%
	ATR	B	0.02%
	GME	C	0.02%
	BRX	A	0.02%
	SF	B	0.02%
	MTG	C	0.02%
	SAIC	F	0.02%
	TGNA	B	0.02%
	GNRC	C	0.02%
	BJ	A	0.02%
	EHC	B	0.02%
	RUSHA	C	0.02%
	SON	F	0.02%
	AXTA	B	0.02%
	AAP	D	0.02%
	REZI	A	0.02%
	LSTR	D	0.02%
	EXP	B	0.02%
	DAR	C	0.02%
	BAP	A	0.02%
	THG	A	0.02%
	SEE	C	0.02%
	PRI	B	0.02%
	FMC	D	0.02%
	AR	B	0.02%
	SCI	B	0.02%
	ANF	F	0.02%
	GNTX	C	0.02%
	BTU	B	0.02%
	MRTN	D	0.01%
	HQY	A	0.01%
	JJSF	C	0.01%
	PR	B	0.01%
	CPK	A	0.01%
	ALG	B	0.01%
	HMN	B	0.01%
	PLAB	C	0.01%
	IRT	A	0.01%
	GNL	F	0.01%
	ROG	D	0.01%
	HLX	B	0.01%
	NX	C	0.01%
	AMN	F	0.01%
	REXR	F	0.01%
	SXI	B	0.01%
	TILE	B	0.01%
	OMCL	C	0.01%
	PEB	D	0.01%
	CNS	B	0.01%
	ADC	A	0.01%
	RRR	F	0.01%
	LYFT	C	0.01%
	DOLE	D	0.01%
	IRDM	D	0.01%
	CCOI	B	0.01%
	TALO	C	0.01%
	CASH	B	0.01%
	MTRN	C	0.01%
	YETI	D	0.01%
	LADR	B	0.01%
	OII	B	0.01%
	ICFI	F	0.01%
	DLX	B	0.01%
	ATI	C	0.01%
	CAKE	C	0.01%
	CXT	C	0.01%
	KN	B	0.01%
	KFRC	D	0.01%
	KOS	D	0.01%
	PTON	A	0.01%
	CSWI	B	0.01%
	KW	C	0.01%
	WNC	C	0.01%
	CWT	C	0.01%
	LXP	D	0.01%
	WOR	F	0.01%
	ALGT	B	0.01%
	CARG	B	0.01%
	GO	C	0.01%
	KLG	B	0.01%
	NBTB	B	0.01%
	ROAD	B	0.01%
	KAI	B	0.01%
	POWI	F	0.01%
	SAFT	B	0.01%
	ROIC	A	0.01%
	CHH	A	0.01%
	AZEK	A	0.01%
	CBZ	B	0.01%
	HL	D	0.01%
	ALIT	C	0.01%
	ARI	C	0.01%
	NWN	A	0.01%
	REVG	C	0.01%
	AKR	B	0.01%
	PMT	C	0.01%
	CSGS	B	0.01%
	EGP	D	0.01%
	GOLF	B	0.01%
	NWBI	B	0.01%
	CNXN	C	0.01%
	OPCH	D	0.01%
	SYNA	C	0.01%
	LBRDK	C	0.01%
	PRK	B	0.01%
	NHI	D	0.01%
	RNG	C	0.01%
	ORA	B	0.01%
	FTDR	B	0.01%
	TOWN	B	0.01%
	PDM	D	0.01%
	CENTA	C	0.01%
	AIN	C	0.01%
	RBC	A	0.01%
	MGRC	B	0.01%
	JACK	C	0.01%
	PBI	B	0.01%
	RAMP	B	0.01%
	ICLR	D	0.01%
	BRKR	D	0.01%
	ALEX	B	0.01%
	STRA	C	0.01%
	IBTX	B	0.01%
	INDB	B	0.01%
	CWEN	C	0.01%
	ESRT	C	0.01%
	ROCK	C	0.01%
	PRDO	B	0.01%
	ESE	B	0.01%
	SVC	F	0.01%
	MGEE	B	0.01%
	RHP	B	0.01%
	MMSI	A	0.01%
	FFIN	B	0.01%
	MGY	A	0.01%
	OSIS	A	0.01%
	VC	F	0.01%
	GFF	A	0.01%
	ACHC	F	0.01%
	ABR	C	0.01%
	FRME	B	0.01%
	AAON	B	0.01%
	NPO	A	0.01%
	BCPC	B	0.01%
	NHC	C	0.01%
	COMM	D	0.01%
	IBP	D	0.01%
	EIG	B	0.01%
	AM	A	0.01%
	SCSC	C	0.01%
	WSC	F	0.01%
	ENR	B	0.01%
	FIVE	F	0.01%
	OTTR	C	0.01%
	CORT	B	0.01%
	WSFS	B	0.01%
	MSA	F	0.01%
	HPP	F	0.01%
	HAE	C	0.01%
	HTLF	B	0.01%
	FN	C	0.01%
	NTCT	C	0.01%
	DIOD	D	0.01%
	BKE	B	0.01%
	BXC	B	0.01%
	UCB	A	0.01%
	AZZ	A	0.01%
	SSB	B	0.01%
	BOOT	C	0.01%
	SPTN	D	0.01%
	SASR	B	0.01%
	CPNG	D	0.01%
	VIAV	C	0.01%
	LANC	C	0.01%
	CYH	F	0.01%
	SAM	C	0.01%
	WSBC	B	0.01%
	SHO	D	0.01%
	HOMB	A	0.01%
	PSN	D	0.01%
	KALU	C	0.01%
	KRG	B	0.01%
	ENOV	C	0.01%
	UE	B	0.01%
	AX	B	0.01%
	PFS	B	0.01%
	HTH	C	0.01%
	HI	C	0.01%
	EPC	F	0.01%
	DHC	F	0.01%
	TNET	F	0.01%
	BFAM	D	0.01%
	CIVI	D	0.01%
	STRL	A	0.01%
	FR	D	0.01%
	STAG	D	0.01%
	XHR	B	0.01%
	AEIS	C	0.01%
	SKT	A	0.01%
	MORN	B	0.01%
	CHX	C	0.01%
	CVBF	A	0.01%
	MYRG	B	0.01%
	FIBK	B	0.01%
	BOKF	B	0.01%
	COMP	B	0.01%
	DDS	B	0.01%
	PLUS	F	0.01%
	PRIM	A	0.01%
	FSS	B	0.01%
	HGV	C	0.01%
	ETSY	D	0.01%
	CBU	B	0.01%
	PECO	A	0.01%
	PPBI	C	0.01%
	TRMK	C	0.01%
	FHI	B	0.01%
	PBH	A	0.01%
	IBOC	B	0.01%
	IAC	F	0.01%
	CNM	D	0.01%
	IBKR	A	0.01%
	LBRT	D	0.01%
	SMTC	B	0.01%
	RIG	D	0.01%
	HEES	C	0.01%
	JELD	F	0.01%
	NGVT	B	0.01%
	JBGS	F	0.01%
	ECPG	C	0.01%
	AXS	A	0.01%
	LRN	A	0.01%
	IPGP	D	0.01%
	FFBC	B	0.01%
	IOSP	C	0.01%
	TREX	C	0.01%
	AMED	F	0.01%
	HLF	C	0.01%
	DRH	B	0.01%
	HOPE	C	0.01%
	RLJ	C	0.01%
	BANR	B	0.01%
	TROX	D	0.01%
	JBT	B	0.01%
	AIR	B	0.01%
	HELE	C	0.01%
	DORM	B	0.01%
	SCL	C	0.01%
	THS	D	0.01%
	ATKR	D	0.01%
	RLI	A	0.01%
	WEX	D	0.01%
	WWW	A	0.01%
	ITGR	B	0.01%
	IGT	F	0.01%
	WMS	F	0.01%
	DNB	B	0.01%
	CABO	B	0.01%
	FELE	B	0.01%
	WEN	D	0.01%
	PLNT	A	0.01%
	DLB	B	0.01%
	RNR	C	0.01%
	CNXC	F	0.01%
	ITRI	C	0.01%
	NMRK	C	0.01%
	MWA	B	0.01%
	FND	D	0.01%
	CDP	C	0.01%
	BGC	C	0.01%
	COKE	C	0.01%
	IDCC	B	0.01%
	AMR	C	0.01%
	ENSG	C	0.01%
	ABCB	B	0.01%
	RYI	C	0.01%
	RGLD	C	0.01%
	CVLT	B	0.01%
	UPBD	B	0.01%
	APG	B	0.01%
	ICUI	D	0.01%
	EBS	C	0.01%
	VSTO	A	0.01%
	RRC	B	0.01%
	RYN	D	0.01%
	SLAB	F	0.01%
	WTS	B	0.01%
	TDC	D	0.01%
	EPR	C	0.01%
	MLKN	F	0.01%
	BXMT	C	0.01%
	APOG	C	0.01%
	EXLS	B	0.01%
	TPG	A	0.01%
	FULT	A	0.01%
	MCY	A	0.01%
	BOH	B	0.01%
	SLGN	A	0.01%
	SNDR	B	0.01%
	SAH	C	0.01%
	AMWD	C	0.01%
	BCO	F	0.01%
	CNK	C	0.01%
	CVCO	A	0.01%
	OMI	F	0.01%
	NEU	D	0.01%
	CROX	D	0.01%
	AROC	A	0.01%
	YELP	C	0.01%
	FWRD	D	0.01%
	CGNX	D	0.01%
	CHDN	B	0.01%
	PPC	C	0.01%
	OUT	A	0.01%
	PRGO	C	0.01%
	KAR	B	0.01%
	SXT	C	0.01%
	CACC	D	0.01%
	RH	C	0.01%
	CBRL	C	0.01%
	QRTEA	F	0.01%
	TCBI	C	0.01%
	NOMD	D	0.01%
	DNOW	B	0.01%
	GMED	A	0.01%
	APAM	B	0.01%
	LGIH	F	0.01%
	SITE	F	0.01%
	VSH	F	0.01%
	CEIX	A	0.01%
	SCS	C	0.01%
	COLD	D	0.01%
	MTX	B	0.01%
	LZB	B	0.01%
	AGR	A	0.01%
	MOD	A	0.01%
	KTB	B	0.01%
	PTEN	C	0.01%
	HE	C	0.01%
	UVV	B	0.01%
	SKY	A	0.01%
	ZD	B	0.01%
	SIGI	C	0.01%
	WAFD	B	0.01%
	PDCO	F	0.01%
	NNN	C	0.01%
	OLLI	D	0.01%
	MASI	B	0.01%
	VYX	B	0.01%
	GEF	A	0.01%
	AVA	A	0.01%
	WD	D	0.01%
	ESNT	F	0.01%
	UMBF	B	0.01%
	VNT	C	0.01%
	SFNC	C	0.01%
	PCH	F	0.01%
	GTES	A	0.01%
	AGO	B	0.01%
	WMK	C	0.01%
	AMKR	D	0.01%
	ALE	A	0.01%
	HXL	F	0.01%
	LNW	F	0.01%
	APLE	B	0.01%
	VSTS	C	0.01%
	LFUS	D	0.01%
	B	A	0.01%
	LILAK	D	0.01%
	NJR	A	0.01%
	MTDR	B	0.01%
	PSMT	D	0.01%
	ASH	F	0.01%
	VVV	D	0.01%
	PFSI	C	0.01%
	NWE	B	0.01%
	SSD	F	0.01%
	CATY	B	0.01%
	BDC	C	0.01%
	ONB	C	0.01%
	DK	C	0.01%
	WTM	A	0.01%
	WGO	C	0.01%
	LAUR	A	0.01%
	UNF	B	0.01%
	SN	D	0.01%
	EEFT	B	0.01%
	SUM	B	0.01%
	PHIN	A	0.01%
	PIPR	A	0.01%
	PATK	C	0.01%
	ESAB	C	0.01%
	SHOO	F	0.01%
	HTZ	C	0.01%
	NYT	D	0.01%
	GBCI	B	0.01%
	SPR	D	0.01%
	FUL	F	0.01%
	DAN	D	0.01%
	XRAY	F	0.01%
	COLM	C	0.01%
	IMKTA	C	0.01%
	ACIW	B	0.01%
	ARCB	C	0.01%
	DBRG	F	0.01%
	SBRA	C	0.01%
	TEX	F	0.01%
	CUBE	C	0.01%
	URBN	C	0.01%
	HNI	B	0.01%
	KMT	B	0.01%
	JBLU	F	0.01%
	CRC	A	0.01%
	CCS	D	0.01%
	GIII	D	0.01%
	ACA	A	0.01%
	UBSI	B	0.01%
	LCII	C	0.01%
	STC	B	0.01%
	SR	A	0.01%
	ENS	F	0.01%
	FCN	F	0.01%
	CUZ	B	0.01%
	CRI	F	0.01%
	ENVA	B	0.01%
	ADTN	A	0.01%
	UNFI	A	0.01%
	MAT	D	0.01%
	PNM	B	0.01%
	KNF	B	0.01%
	KEX	B	0.01%
	SBH	C	0.01%
	SMG	C	0.01%
	MC	C	0.01%
	HP	C	0.01%
	AGNC	C	0.01%
	COLB	B	0.01%
	ATGE	B	0.01%
	NVST	B	0.01%
	MTN	C	0.01%
	EXEL	B	0.01%
	TRN	B	0.01%
	HLI	A	0.01%
	OGS	A	0.01%
	COHR	B	0.01%
	FHB	B	0.01%
	ANDE	D	0.01%
	MDU	D	0.01%
	CRUS	D	0.01%
	CPRI	F	0.01%
	HWC	B	0.01%
	ODP	F	0.01%
	OZK	B	0.01%
	TTEK	F	0.01%
	SCCO	F	0.01%
	GBX	A	0.01%
	CALM	A	0.01%
	EAT	A	0.01%
	VLY	B	0.01%
	PINC	B	0.01%
	HIW	C	0.01%
	AAL	B	0.01%
	RXO	D	0.01%
	CWK	C	0.01%
	ADNT	F	0.01%
	KFY	B	0.01%
	ALV	C	0.01%
	ELAN	D	0.01%
	AEO	F	0.01%
	MGPI	F	0.0%
	TBBK	B	0.0%
	HOV	D	0.0%
	SEG	B	0.0%
	AOSL	C	0.0%
	AMRC	F	0.0%
	GIC	D	0.0%
	ALGM	D	0.0%
	PCRX	C	0.0%
	PKST	F	0.0%
	TWI	F	0.0%
	CRNC	C	0.0%
	SEDG	F	0.0%
	GPRO	F	0.0%
	AMPH	F	0.0%
	GSM	D	0.0%
	LESL	D	0.0%
	ONEW	F	0.0%
	TTEC	F	0.0%
	SPWH	F	0.0%
	THR	B	0.0%
	KE	C	0.0%
	MED	D	0.0%
	CMTL	F	0.0%
	REX	D	0.0%
	SRI	F	0.0%
	RILY	F	0.0%
	PRM	C	0.0%
	JRVR	F	0.0%
	NIC	B	0.0%
	CENT	C	0.0%
	MODV	C	0.0%
	ATNI	F	0.0%
	OIS	B	0.0%
	GPMT	C	0.0%
	PETS	C	0.0%
	SSP	F	0.0%
	CRMT	D	0.0%
	CCRN	F	0.0%
	TPIC	F	0.0%
	SNEX	B	0.0%
	IRBT	F	0.0%
	AVD	C	0.0%
	OPI	F	0.0%
	BMBL	C	0.0%
	FLGT	F	0.0%
	MYE	F	0.0%
	BRSP	C	0.0%
	AGL	F	0.0%
	HLNE	B	0.0%
	NPK	B	0.0%
	VREX	B	0.0%
	MOV	D	0.0%
	AMSF	B	0.0%
	WOLF	F	0.0%
	DENN	D	0.0%
	TITN	C	0.0%
	USPH	B	0.0%
	FIZZ	C	0.0%
	MEI	F	0.0%
	DHIL	B	0.0%
	RGP	F	0.0%
	GTY	A	0.0%
	PLOW	D	0.0%
	CLVT	D	0.0%
	CTRN	F	0.0%
	FLWS	D	0.0%
	SSYS	B	0.0%
	ARKO	C	0.0%
	KRNY	C	0.0%
	GNK	D	0.0%
	CSR	B	0.0%
	BRY	F	0.0%
	RUN	F	0.0%
	AMBC	C	0.0%
	PLCE	C	0.0%
	CLOV	D	0.0%
	TEN	F	0.0%
	IRWD	F	0.0%
	SRCE	B	0.0%
	HASI	D	0.0%
	ARCO	F	0.0%
	ALTO	F	0.0%
	CLDT	B	0.0%
	DBI	F	0.0%
	CSV	B	0.0%
	DIN	C	0.0%
	AVNS	F	0.0%
	CNOB	B	0.0%
	BJRI	C	0.0%
	EVRI	A	0.0%
	OPK	C	0.0%
	WOW	C	0.0%
	ALKS	C	0.0%
	CCSI	C	0.0%
	CMP	C	0.0%
	HVT	D	0.0%
	EDR	A	0.0%
	XPRO	D	0.0%
	KREF	C	0.0%
	CALX	D	0.0%
	TBI	F	0.0%
	DCO	C	0.0%
	MERC	F	0.0%
	CRAI	C	0.0%
	SHEN	F	0.0%
	AGM	B	0.0%
	AVO	C	0.0%
	UFCS	A	0.0%
	MTUS	C	0.0%
	WMG	D	0.0%
	TMP	B	0.0%
	ZEUS	C	0.0%
	GDEN	B	0.0%
	SHYF	C	0.0%
	STNE	F	0.0%
	AHCO	F	0.0%
	MATW	C	0.0%
	HAFC	B	0.0%
	WASH	C	0.0%
	WABC	B	0.0%
	DAC	C	0.0%
	RYAM	C	0.0%
	MTW	C	0.0%
	KNSL	B	0.0%
	WRLD	C	0.0%
	EBF	F	0.0%
	CLB	B	0.0%
	MYGN	F	0.0%
	UTL	B	0.0%
	WOOF	D	0.0%
	BANF	B	0.0%
	THRY	D	0.0%
	ASTH	F	0.0%
	CNNE	B	0.0%
	CLW	F	0.0%
	VIR	D	0.0%
	SGRY	F	0.0%
	TCBK	C	0.0%
	PFC	B	0.0%
	ZIMV	D	0.0%
	SBLK	F	0.0%
	HFWA	C	0.0%
	GDOT	D	0.0%
	OCFC	B	0.0%
	SBSI	C	0.0%
	BBSI	B	0.0%
	VRNT	C	0.0%
	ETD	C	0.0%
	VSEC	C	0.0%
	PAGS	F	0.0%
	CVGW	D	0.0%
	EVTC	B	0.0%
	STNG	F	0.0%
	XP	F	0.0%
	BRKL	B	0.0%
	TKO	A	0.0%
	HMST	F	0.0%
	CMRE	C	0.0%
	MXL	C	0.0%
	RGR	F	0.0%
	RMBS	B	0.0%
	VAL	F	0.0%
	MP	C	0.0%
	SBCF	B	0.0%
	SCVL	F	0.0%
	PEGA	B	0.0%
	SFIX	B	0.0%
	USNA	C	0.0%
	WTTR	A	0.0%
	SSTK	F	0.0%
	SPSC	D	0.0%
	ACLS	F	0.0%
	ILPT	F	0.0%
	RKT	F	0.0%
	CTRE	C	0.0%
	HSII	B	0.0%
	PRVA	C	0.0%
	RWT	D	0.0%
	SMP	C	0.0%
	EGBN	B	0.0%
	RC	D	0.0%
	CBL	B	0.0%
	LEVI	F	0.0%
	CMTG	F	0.0%
	TSE	F	0.0%
	IVT	A	0.0%
	CPF	B	0.0%
	AMC	C	0.0%
	PZZA	F	0.0%
	USM	B	0.0%
	OFG	B	0.0%
	PRLB	B	0.0%
	CFFN	C	0.0%
	MATV	D	0.0%
	UVE	B	0.0%
	NVRI	D	0.0%
	VCTR	B	0.0%
	STEP	C	0.0%
	MNRO	D	0.0%
	BGS	F	0.0%
	IHRT	B	0.0%
	WFRD	D	0.0%
	IPAR	B	0.0%
	ASTE	C	0.0%
	ZUMZ	B	0.0%
	CARS	C	0.0%
	TRTX	C	0.0%
	RGEN	D	0.0%
	GLOB	B	0.0%
	CPS	C	0.0%
	DHT	F	0.0%
	GLDD	B	0.0%
	NUS	D	0.0%
	PUMP	C	0.0%
	ASIX	B	0.0%
	INSW	F	0.0%
	RES	D	0.0%
	PRA	C	0.0%
	FBRT	D	0.0%
	ALRM	C	0.0%
	GCO	C	0.0%
	LPG	F	0.0%
	DXPE	C	0.0%
	SWBI	C	0.0%
	CNSL	C	0.0%
	CSTM	F	0.0%
	RDNT	B	0.0%
	SFBS	C	0.0%
	SENEA	A	0.0%
	GLNG	C	0.0%
	RDUS	B	0.0%
	GTN	F	0.0%
	CMPR	D	0.0%
	NVEE	F	0.0%
	PEN	B	0.0%
	LKFN	C	0.0%
	ZI	D	0.0%
	AZTA	D	0.0%
	INVA	D	0.0%
	HLIO	B	0.0%
	SFL	D	0.0%
	VTLE	C	0.0%
	WING	D	0.0%
	PARR	F	0.0%
	PRAA	D	0.0%
	LSCC	D	0.0%
	NBR	C	0.0%
	AGRO	D	0.0%
	JBSS	F	0.0%
	NOG	B	0.0%
	HZO	F	0.0%
	LNN	B	0.0%
	UIS	B	0.0%
	NEOG	F	0.0%
	LIVN	F	0.0%
	VRTS	B	0.0%
	ACCO	C	0.0%
	GRBK	D	0.0%
	CRGY	B	0.0%
	RNST	B	0.0%
	BZH	C	0.0%
	W	D	0.0%
	COHU	C	0.0%
	ICHR	C	0.0%
	HAIN	D	0.0%
	LTC	B	0.0%
	CNDT	C	0.0%
	SNBR	F	0.0%
	NTB	B	0.0%
	FCPT	C	0.0%
	SJW	F	0.0%
	VRRM	F	0.0%
	FBNC	B	0.0%
	BRBR	A	0.0%
	VRE	B	0.0%
	HAYW	B	0.0%
	CCO	C	0.0%
	NOVT	D	0.0%
	DEA	D	0.0%
	EPRT	B	0.0%
	VSAT	F	0.0%
	FOXF	F	0.0%
	AY	A	0.0%
	AGX	B	0.0%
	TRNO	F	0.0%
	CHCO	B	0.0%
	KLIC	B	0.0%
	AMRK	F	0.0%
	SXC	A	0.0%
	SUPN	C	0.0%
	EPAC	C	0.0%
	CODI	B	0.0%
	MRC	B	0.0%
	WHD	B	0.0%
	CHEF	A	0.0%
	CTS	C	0.0%
	HTLD	C	0.0%
	AMCX	C	0.0%
	CNMD	C	0.0%
	KTOS	B	0.0%
	ESGR	B	0.0%
	CMCO	C	0.0%
	GTLS	A	0.0%
	GPRE	F	0.0%
	AXL	C	0.0%
	GFS	C	0.0%
	MEDP	D	0.0%
	PRGS	A	0.0%
	MODG	F	0.0%
	HCSG	C	0.0%
	HALO	F	0.0%
	ADUS	D	0.0%
	BLKB	B	0.0%
	FBP	C	0.0%
	AWR	B	0.0%
	COTY	F	0.0%
	TRIP	F	0.0%
	GCI	D	0.0%
	CAL	F	0.0%
	GES	F	0.0%
	CVI	F	0.0%
	TDOC	C	0.0%
	CWST	A	0.0%
	FORM	D	0.0%
	NTGR	B	0.0%
	DFIN	D	0.0%
	BNL	D	0.0%
	OXM	F	0.0%
	SEB	F	0.0%
	SONO	C	0.0%
	SMPL	B	0.0%
	SCHL	F	0.0%
	CWH	B	0.0%
	ECVT	C	0.0%
	EMBC	C	0.0%
	ENV	B	0.0%
	TRS	B	0.0%
	AAT	B	0.0%
	KELYA	F	0.0%
	LGF.A	C	0.0%
	MMI	C	0.0%
	NNI	D	0.0%
	OEC	C	0.0%
	PGRE	F	0.0%
	REYN	D	0.0%
	TNC	D	0.0%
	BKD	F	0.0%
	ONTO	F	0.0%
	PLAY	D	0.0%
	STBA	B	0.0%
	WDFC	B	0.0%
	HURN	C	0.0%
	EAF	C	0.0%
	ATSG	B	0.0%
	EXPI	D	0.0%
	ELME	D	0.0%
	BV	C	0.0%
	FCF	B	0.0%
	KWR	C	0.0%
	HHH	B	0.0%
	NSP	F	0.0%
	EFSC	B	0.0%
	SABR	C	0.0%
	BMI	B	0.0%
	PJT	A	0.0%
	CNA	C	0.0%
	QLYS	B	0.0%
	KOP	C	0.0%
	MD	C	0.0%
	BRC	D	0.0%
	OPEN	F	0.0%
	BUSE	B	0.0%
	CUBI	B	0.0%
	BDN	C	0.0%
	BLMN	F	0.0%
	BSIG	A	0.0%
	EXPO	D	0.0%
	IART	C	0.0%
	NMIH	C	0.0%
	AUB	B	0.0%
	MRCY	C	0.0%
	UCTT	D	0.0%
	NSA	C	0.0%
	PTVE	B	0.0%
	EYE	C	0.0%
	OLED	F	0.0%
	GWRE	A	0.0%
	ZWS	B	0.0%
	CDE	C	0.0%
	VBTX	B	0.0%
	CRK	B	0.0%
	HWKN	B	0.0%
	THRM	F	0.0%
	EBC	B	0.0%

FNDB Underweight 41 Positions Relative to QWLD

	Symbol	Grade	Weight
	NVS	F	-0.79%
	UL	D	-0.27%
	WCN	A	-0.27%
	HSBH	B	-0.25%
	MFG	A	-0.24%
	TM	F	-0.15%
	MUFG	B	-0.14%
	TD	D	-0.12%
	E	F	-0.12%
	BCS	A	-0.11%
	DEO	F	-0.11%
	CNI	F	-0.1%
	SMFG	B	-0.1%
	LYG	D	-0.09%
	SONY	B	-0.08%
	STLA	F	-0.08%
	HMC	F	-0.07%
	LOGI	D	-0.06%
	BTI	B	-0.05%
	MT	B	-0.05%
	NMR	B	-0.02%
	MBAVU	C	-0.01%
	FOX	A	-0.01%
	WFG	C	-0.01%
	SE	A	-0.01%
	GLBE	B	-0.0%
	IOT	A	-0.0%
	NET	B	-0.0%
	RBLX	C	-0.0%
	DDOG	A	-0.0%
	DKNG	B	-0.0%
	FUTU	D	-0.0%
	DOCU	B	-0.0%
	GRAB	A	-0.0%
	CRWD	B	-0.0%
	MSTR	B	-0.0%
	HOOD	B	-0.0%
	RIVN	F	-0.0%
	QGEN	D	-0.0%
	AXON	A	-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 Asset Management Semiconductors 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