FNDX vs. QUS ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to SPDR MSCI USA Quality Mix ETF (QUS)

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company 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

$71.53

Average Daily Volume

410,055

Number of Holdings ^*

716

* may have additional holdings in another (foreign) market

QUS

SPDR MSCI USA Quality Mix ETF

QUS Description

The investment seeks to track the performance of the MSCI USA Quality Mix A-Series Index. The fund invests at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the equity market performance of large-and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility. It is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI USA Value Weighted Index, the MSCI USA Quality Index, and the MSCI USA Minimum Volatility Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$157.13

Average Daily Volume

16,771

Number of Holdings ^*

579

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	QUS
30 Days	2.67%	1.60%
60 Days	4.35%	4.94%
90 Days	7.25%	6.57%
12 Months	29.57%	31.78%

499 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in QUS	Overlap
	A	C	0.06%	0.12%	0.06%
	AAPL	C	4.32%	3.33%	3.33%
	ABBV	B	0.6%	0.59%	0.59%
	ABT	C	0.34%	0.15%	0.15%
	ACGL	B	0.05%	0.42%	0.05%
	ACI	F	0.02%	0.03%	0.02%
	ACM	B	0.04%	0.01%	0.01%
	ACN	C	0.34%	1.13%	0.34%
	ADBE	F	0.19%	0.75%	0.19%
	ADI	C	0.13%	0.16%	0.13%
	ADM	D	0.22%	0.1%	0.1%
	ADP	C	0.14%	0.51%	0.14%
	ADSK	B	0.03%	0.14%	0.03%
	AEE	B	0.07%	0.1%	0.07%
	AEP	C	0.19%	0.2%	0.19%
	AES	C	0.07%	0.02%	0.02%
	AFG	C	0.05%	0.15%	0.05%
	AFL	A	0.23%	0.21%	0.21%
	AIG	D	0.28%	0.12%	0.12%
	AIZ	B	0.03%	0.11%	0.03%
	AJG	D	0.05%	0.44%	0.05%
	AKAM	D	0.03%	0.17%	0.03%
	ALB	D	0.02%	0.02%	0.02%
	ALGN	D	0.02%	0.01%	0.01%
	ALL	C	0.29%	0.06%	0.06%
	ALLE	B	0.02%	0.04%	0.02%
	ALLY	F	0.1%	0.03%	0.03%
	AMAT	D	0.25%	0.57%	0.25%
	AMCR	B	0.02%	0.02%	0.02%
	AMD	C	0.09%	0.07%	0.07%
	AME	C	0.05%	0.02%	0.02%
	AMGN	D	0.48%	0.33%	0.33%
	AMP	B	0.12%	0.03%	0.03%
	AMT	C	0.14%	0.04%	0.04%
	AMZN	C	1.38%	0.65%	0.65%
	ANET	C	0.04%	0.4%	0.04%
	ANSS	D	0.02%	0.01%	0.01%
	AON	B	0.12%	0.19%	0.12%
	AOS	B	0.03%	0.03%	0.03%
	APA	F	0.03%	0.05%	0.03%
	APD	B	0.12%	0.04%	0.04%
	APH	C	0.09%	0.67%	0.09%
	APO	B	0.03%	0.02%	0.02%
	APTV	D	0.04%	0.03%	0.03%
	ARE	C	0.03%	0.02%	0.02%
	ATO	B	0.04%	0.04%	0.04%
	AVB	C	0.06%	0.02%	0.02%
	AVGO	C	0.67%	0.6%	0.6%
	AVTR	C	0.03%	0.01%	0.01%
	AVY	C	0.04%	0.01%	0.01%
	AWK	C	0.05%	0.02%	0.02%
	AXP	B	0.37%	0.1%	0.1%
	AZO	B	0.06%	0.36%	0.06%
	BA	F	0.13%	0.03%	0.03%
	BAC	D	1.22%	0.61%	0.61%
	BAH	B	0.04%	0.21%	0.04%
	BALL	C	0.06%	0.02%	0.02%
	BAX	C	0.09%	0.03%	0.03%
	BBWI	D	0.02%	0.01%	0.01%
	BBY	A	0.19%	0.1%	0.1%
	BDX	D	0.11%	0.25%	0.11%
	BEN	F	0.04%	0.01%	0.01%
	BG	F	0.11%	0.05%	0.05%
	BIIB	F	0.1%	0.03%	0.03%
	BK	B	0.26%	0.08%	0.08%
	BKNG	B	0.2%	0.03%	0.03%
	BKR	C	0.14%	0.04%	0.04%
	BLDR	C	0.04%	0.09%	0.04%
	BLK	B	0.25%	0.42%	0.25%
	BMY	C	0.36%	0.3%	0.3%
	BR	C	0.03%	0.03%	0.03%
	BRK.A	C	2.26%	1.09%	1.09%
	BRO	C	0.03%	0.01%	0.01%
	BSX	B	0.09%	0.04%	0.04%
	BURL	C	0.03%	0.01%	0.01%
	BX	C	0.12%	0.04%	0.04%
	BXP	C	0.05%	0.02%	0.02%
	C	C	1.05%	0.41%	0.41%
	CAG	B	0.07%	0.02%	0.02%
	CAH	C	0.07%	0.11%	0.07%
	CARR	B	0.13%	0.04%	0.04%
	CAT	B	0.39%	0.62%	0.39%
	CB	B	0.29%	0.66%	0.29%
	CBOE	C	0.02%	0.3%	0.02%
	CBRE	B	0.13%	0.05%	0.05%
	CCI	C	0.11%	0.03%	0.03%
	CCK	B	0.04%	0.02%	0.02%
	CCL	C	0.05%	0.01%	0.01%
	CDNS	D	0.03%	0.28%	0.03%
	CDW	D	0.06%	0.25%	0.06%
	CE	D	0.06%	0.02%	0.02%
	CEG	C	0.1%	0.03%	0.03%
	CF	B	0.06%	0.03%	0.03%
	CFG	D	0.1%	0.06%	0.06%
	CG	C	0.03%	0.01%	0.01%
	CHD	C	0.04%	0.13%	0.04%
	CHK	C	0.02%	0.03%	0.02%
	CHRW	B	0.07%	0.02%	0.02%
	CHTR	D	0.32%	0.08%	0.08%
	CI	C	0.55%	0.27%	0.27%
	CINF	C	0.07%	0.03%	0.03%
	CL	C	0.16%	0.18%	0.16%
	CLX	C	0.04%	0.01%	0.01%
	CMCSA	C	0.74%	0.4%	0.4%
	CME	B	0.08%	0.22%	0.08%
	CMG	D	0.04%	0.22%	0.04%
	CMI	B	0.17%	0.15%	0.15%
	CMS	B	0.06%	0.09%	0.06%
	CNC	D	0.25%	0.11%	0.11%
	CNH	C	0.03%	0.03%	0.03%
	CNP	C	0.06%	0.02%	0.02%
	COF	B	0.39%	0.14%	0.14%
	COP	F	0.42%	0.17%	0.17%
	COST	C	0.72%	1.31%	0.72%
	CPAY	B	0.05%	0.01%	0.01%
	CPB	C	0.04%	0.14%	0.04%
	CPRT	D	0.02%	0.13%	0.02%
	CPT	C	0.02%	0.01%	0.01%
	CRBG	C	0.03%	0.02%	0.02%
	CRL	F	0.01%	0.01%	0.01%
	CRM	C	0.12%	0.1%	0.1%
	CSCO	B	0.74%	1.21%	0.74%
	CSL	B	0.05%	0.01%	0.01%
	CSX	C	0.21%	0.05%	0.05%
	CTAS	C	0.09%	0.22%	0.09%
	CTLT	B	0.02%	0.01%	0.01%
	CTRA	F	0.01%	0.03%	0.01%
	CTSH	B	0.18%	0.39%	0.18%
	CTVA	B	0.09%	0.17%	0.09%
	CVS	D	0.68%	0.32%	0.32%
	CVX	F	1.07%	0.5%	0.5%
	D	C	0.19%	0.14%	0.14%
	DAL	C	0.02%	0.01%	0.01%
	DD	B	0.18%	0.04%	0.04%
	DE	A	0.22%	0.11%	0.11%
	DECK	C	0.03%	0.08%	0.03%
	DELL	C	0.01%	0.05%	0.01%
	DFS	C	0.21%	0.06%	0.06%
	DG	F	0.08%	0.03%	0.03%
	DGX	B	0.07%	0.06%	0.06%
	DHI	C	0.2%	0.23%	0.2%
	DHR	B	0.17%	0.1%	0.1%
	DINO	F	0.05%	0.03%	0.03%
	DIS	D	0.38%	0.14%	0.14%
	DKS	D	0.05%	0.02%	0.02%
	DLR	B	0.08%	0.03%	0.03%
	DLTR	F	0.05%	0.02%	0.02%
	DOC	B	0.04%	0.01%	0.01%
	DOV	B	0.06%	0.02%	0.02%
	DOW	C	0.19%	0.07%	0.07%
	DPZ	D	0.04%	0.06%	0.04%
	DRI	C	0.05%	0.02%	0.02%
	DTE	A	0.08%	0.1%	0.08%
	DUK	B	0.34%	0.62%	0.34%
	DVA	B	0.07%	0.01%	0.01%
	DVN	F	0.08%	0.05%	0.05%
	EA	D	0.08%	0.27%	0.08%
	EBAY	B	0.2%	0.02%	0.02%
	ECL	B	0.09%	0.02%	0.02%
	ED	B	0.13%	0.45%	0.13%
	EFX	C	0.04%	0.02%	0.02%
	EG	B	0.03%	0.19%	0.03%
	EIX	B	0.11%	0.04%	0.04%
	EL	D	0.04%	0.01%	0.01%
	ELV	D	0.5%	0.4%	0.4%
	EME	B	0.06%	0.07%	0.06%
	EMN	B	0.08%	0.02%	0.02%
	EMR	D	0.15%	0.04%	0.04%
	EOG	D	0.2%	0.15%	0.15%
	EPAM	F	0.02%	0.04%	0.02%
	EQH	C	0.05%	0.02%	0.02%
	EQIX	B	0.08%	0.02%	0.02%
	EQR	C	0.06%	0.02%	0.02%
	EQT	C	0.03%	0.02%	0.02%
	ES	B	0.09%	0.03%	0.03%
	ESS	C	0.04%	0.01%	0.01%
	ETN	C	0.21%	0.05%	0.05%
	ETR	A	0.11%	0.04%	0.04%
	EVRG	B	0.07%	0.02%	0.02%
	EW	F	0.04%	0.12%	0.04%
	EXC	B	0.18%	0.06%	0.06%
	EXPD	B	0.02%	0.07%	0.02%
	EXPE	C	0.03%	0.01%	0.01%
	EXR	C	0.04%	0.03%	0.03%
	F	F	0.31%	0.16%	0.16%
	FANG	F	0.05%	0.23%	0.05%
	FAST	C	0.07%	0.14%	0.07%
	FCNCA	D	0.02%	0.3%	0.02%
	FCX	C	0.14%	0.04%	0.04%
	FDX	D	0.33%	0.12%	0.12%
	FE	B	0.1%	0.03%	0.03%
	FFIV	B	0.03%	0.21%	0.03%
	FIS	C	0.13%	0.03%	0.03%
	FITB	B	0.13%	0.06%	0.06%
	FNF	B	0.07%	0.02%	0.02%
	FOXA	B	0.09%	0.02%	0.02%
	FSLR	C	0.02%	0.04%	0.02%
	FTNT	B	0.03%	0.01%	0.01%
	FTV	C	0.03%	0.02%	0.02%
	GD	C	0.23%	0.07%	0.07%
	GDDY	C	0.02%	0.3%	0.02%
	GE	C	0.18%	0.12%	0.12%
	GEHC	B	0.07%	0.03%	0.03%
	GEV	B	0.05%	0.03%	0.03%
	GGG	C	0.02%	0.05%	0.02%
	GILD	B	0.35%	0.41%	0.35%
	GIS	B	0.13%	0.3%	0.13%
	GLPI	C	0.02%	0.01%	0.01%
	GLW	B	0.14%	0.14%	0.14%
	GM	C	0.69%	0.28%	0.28%
	GOOG	D	1.07%	1.06%	1.06%
	GOOGL	D	1.23%	1.14%	1.14%
	GPC	D	0.05%	0.02%	0.02%
	GPN	D	0.08%	0.04%	0.04%
	GRMN	D	0.04%	0.17%	0.04%
	GS	B	0.57%	0.26%	0.26%
	GWW	B	0.07%	0.17%	0.07%
	HAL	F	0.06%	0.03%	0.03%
	HBAN	B	0.07%	0.05%	0.05%
	HCA	B	0.26%	0.07%	0.07%
	HD	B	0.79%	0.34%	0.34%
	HES	F	0.04%	0.02%	0.02%
	HIG	B	0.15%	0.09%	0.09%
	HII	F	0.04%	0.01%	0.01%
	HLT	B	0.06%	0.01%	0.01%
	HOLX	D	0.04%	0.08%	0.04%
	HON	C	0.34%	0.47%	0.34%
	HPE	C	0.18%	0.06%	0.06%
	HPQ	C	0.2%	0.07%	0.07%
	HRL	F	0.03%	0.08%	0.03%
	HSIC	C	0.04%	0.01%	0.01%
	HST	D	0.04%	0.01%	0.01%
	HSY	D	0.04%	0.21%	0.04%
	HUBB	B	0.03%	0.06%	0.03%
	HUM	F	0.2%	0.22%	0.2%
	HWM	B	0.06%	0.01%	0.01%
	IBM	B	0.62%	0.71%	0.62%
	ICE	C	0.13%	0.15%	0.13%
	IDXX	D	0.03%	0.15%	0.03%
	IEX	C	0.02%	0.04%	0.02%
	IFF	A	0.06%	0.02%	0.02%
	ILMN	D	0.03%	0.01%	0.01%
	INTC	D	0.64%	0.15%	0.15%
	INTU	D	0.1%	0.04%	0.04%
	INVH	D	0.03%	0.01%	0.01%
	IP	C	0.16%	0.03%	0.03%
	IPG	C	0.04%	0.02%	0.02%
	IQV	D	0.08%	0.03%	0.03%
	IR	B	0.03%	0.02%	0.02%
	IRM	C	0.08%	0.01%	0.01%
	ISRG	C	0.09%	0.03%	0.03%
	IT	C	0.03%	0.13%	0.03%
	ITW	B	0.15%	0.26%	0.15%
	J	A	0.06%	0.02%	0.02%
	JBHT	D	0.04%	0.05%	0.04%
	JBL	C	0.05%	0.03%	0.03%
	JCI	B	0.15%	0.04%	0.04%
	JKHY	B	0.02%	0.04%	0.02%
	JNJ	C	1.0%	1.78%	1.0%
	JNPR	A	0.05%	0.18%	0.05%
	JPM	D	1.93%	0.92%	0.92%
	K	A	0.07%	0.29%	0.07%
	KDP	B	0.08%	0.28%	0.08%
	KEY	C	0.09%	0.04%	0.04%
	KEYS	B	0.03%	0.27%	0.03%
	KHC	C	0.11%	0.2%	0.11%
	KIM	C	0.03%	0.02%	0.02%
	KKR	B	0.12%	0.04%	0.04%
	KLAC	D	0.1%	0.37%	0.1%
	KMB	C	0.11%	0.1%	0.1%
	KMI	C	0.19%	0.05%	0.05%
	KMX	D	0.07%	0.03%	0.03%
	KNX	C	0.04%	0.04%	0.04%
	KO	B	0.43%	0.94%	0.43%
	KR	B	0.3%	0.3%	0.3%
	KVUE	B	0.03%	0.04%	0.03%
	L	D	0.05%	0.12%	0.05%
	LDOS	A	0.08%	0.02%	0.02%
	LEN	B	0.19%	0.07%	0.07%
	LHX	C	0.16%	0.04%	0.04%
	LII	C	0.03%	0.01%	0.01%
	LIN	B	0.35%	0.16%	0.16%
	LKQ	F	0.05%	0.02%	0.02%
	LLY	D	0.26%	2.38%	0.26%
	LMT	A	0.4%	0.77%	0.4%
	LNG	D	0.05%	0.05%	0.05%
	LNT	A	0.04%	0.05%	0.04%
	LOW	B	0.42%	0.12%	0.12%
	LPLA	D	0.03%	0.05%	0.03%
	LRCX	D	0.16%	0.34%	0.16%
	LULU	D	0.02%	0.1%	0.02%
	LUV	C	0.02%	0.01%	0.01%
	LVS	C	0.03%	0.01%	0.01%
	LW	D	0.01%	0.03%	0.01%
	LYB	D	0.15%	0.05%	0.05%
	MA	B	0.28%	1.61%	0.28%
	MAA	C	0.04%	0.01%	0.01%
	MAR	B	0.08%	0.02%	0.02%
	MAS	B	0.06%	0.01%	0.01%
	MCD	B	0.34%	0.51%	0.34%
	MCHP	D	0.05%	0.12%	0.05%
	MCK	F	0.1%	0.51%	0.1%
	MCO	C	0.08%	0.22%	0.08%
	MDLZ	C	0.23%	0.25%	0.23%
	MDT	B	0.27%	0.15%	0.15%
	MET	B	0.26%	0.09%	0.09%
	META	B	1.85%	2.36%	1.85%
	MGM	D	0.05%	0.01%	0.01%
	MKC	C	0.04%	0.01%	0.01%
	MKL	C	0.05%	0.14%	0.05%
	MLM	D	0.04%	0.02%	0.02%
	MMC	C	0.15%	0.7%	0.15%
	MMM	B	0.4%	0.29%	0.29%
	MNST	D	0.04%	0.12%	0.04%
	MO	C	0.37%	0.06%	0.06%
	MOH	D	0.05%	0.15%	0.05%
	MOS	F	0.05%	0.03%	0.03%
	MPC	F	0.41%	0.34%	0.34%
	MRK	F	0.51%	0.56%	0.51%
	MRNA	F	0.04%	0.02%	0.02%
	MRO	D	0.08%	0.04%	0.04%
	MRVL	D	0.04%	0.02%	0.02%
	MS	B	0.36%	0.16%	0.16%
	MSCI	C	0.03%	0.01%	0.01%
	MSFT	C	2.53%	2.88%	2.53%
	MSI	B	0.06%	0.57%	0.06%
	MTB	C	0.1%	0.07%	0.07%
	MTD	C	0.04%	0.01%	0.01%
	MU	D	0.35%	0.06%	0.06%
	NDAQ	C	0.03%	0.02%	0.02%
	NDSN	C	0.02%	0.01%	0.01%
	NEE	B	0.29%	0.1%	0.1%
	NEM	C	0.19%	0.24%	0.19%
	NFLX	B	0.15%	0.12%	0.12%
	NI	B	0.05%	0.02%	0.02%
	NKE	D	0.18%	0.3%	0.18%
	NOC	B	0.21%	0.59%	0.21%
	NOW	C	0.01%	0.25%	0.01%
	NRG	B	0.11%	0.02%	0.02%
	NSC	C	0.2%	0.05%	0.05%
	NTAP	D	0.08%	0.16%	0.08%
	NTRS	C	0.07%	0.03%	0.03%
	NUE	D	0.18%	0.07%	0.07%
	NVDA	C	0.37%	2.31%	0.37%
	NVR	B	0.08%	0.12%	0.08%
	NWSA	D	0.04%	0.01%	0.01%
	NXPI	D	0.08%	0.03%	0.03%
	O	B	0.04%	0.05%	0.04%
	OC	C	0.06%	0.02%	0.02%
	ODFL	D	0.05%	0.13%	0.05%
	OKE	C	0.13%	0.05%	0.05%
	OMC	B	0.08%	0.07%	0.07%
	ON	D	0.04%	0.03%	0.03%
	ORCL	B	0.49%	0.49%	0.49%
	ORLY	B	0.1%	0.24%	0.1%
	OTIS	B	0.05%	0.04%	0.04%
	OVV	F	0.04%	0.03%	0.03%
	OXY	F	0.11%	0.1%	0.1%
	PANW	D	0.03%	0.27%	0.03%
	PARA	D	0.09%	0.03%	0.03%
	PAYX	C	0.06%	0.15%	0.06%
	PCAR	D	0.13%	0.05%	0.05%
	PCG	C	0.03%	0.05%	0.03%
	PEG	B	0.11%	0.04%	0.04%
	PEP	D	0.45%	1.12%	0.45%
	PFE	D	0.76%	0.39%	0.39%
	PFG	B	0.08%	0.03%	0.03%
	PG	C	0.85%	0.61%	0.61%
	PGR	C	0.26%	0.65%	0.26%
	PH	B	0.12%	0.04%	0.04%
	PHM	B	0.13%	0.12%	0.12%
	PKG	B	0.07%	0.08%	0.07%
	PLD	C	0.08%	0.09%	0.08%
	PM	C	0.51%	0.11%	0.11%
	PNC	C	0.29%	0.15%	0.15%
	PNR	B	0.04%	0.01%	0.01%
	POOL	C	0.02%	0.05%	0.02%
	PPG	C	0.08%	0.03%	0.03%
	PPL	A	0.11%	0.02%	0.02%
	PRU	C	0.23%	0.08%	0.08%
	PSA	C	0.06%	0.15%	0.06%
	PSX	F	0.36%	0.15%	0.15%
	PWR	B	0.06%	0.02%	0.02%
	PYPL	B	0.19%	0.07%	0.07%
	QCOM	D	0.46%	0.6%	0.46%
	QRVO	F	0.05%	0.01%	0.01%
	REG	C	0.03%	0.01%	0.01%
	REGN	D	0.16%	0.39%	0.16%
	RF	B	0.08%	0.05%	0.05%
	RJF	C	0.04%	0.03%	0.03%
	RMD	C	0.04%	0.1%	0.04%
	ROK	D	0.05%	0.1%	0.05%
	ROP	C	0.05%	0.48%	0.05%
	ROST	C	0.08%	0.03%	0.03%
	RPM	B	0.04%	0.01%	0.01%
	RS	D	0.08%	0.02%	0.02%
	RSG	D	0.07%	0.52%	0.07%
	RTX	B	0.36%	0.18%	0.18%
	SBAC	C	0.02%	0.01%	0.01%
	SBUX	C	0.26%	0.06%	0.06%
	SCHW	D	0.1%	0.06%	0.06%
	SEIC	B	0.02%	0.03%	0.02%
	SHW	B	0.09%	0.26%	0.09%
	SJM	C	0.06%	0.02%	0.02%
	SLB	F	0.11%	0.05%	0.05%
	SNA	B	0.04%	0.05%	0.04%
	SNPS	F	0.03%	0.27%	0.03%
	SO	B	0.29%	0.55%	0.29%
	SOLV	D	0.04%	0.06%	0.04%
	SPG	B	0.11%	0.03%	0.03%
	SPGI	C	0.15%	0.07%	0.07%
	SQ	D	0.02%	0.02%	0.02%
	SRE	B	0.12%	0.06%	0.06%
	SSNC	C	0.04%	0.02%	0.02%
	STE	B	0.03%	0.01%	0.01%
	STLD	C	0.09%	0.04%	0.04%
	STT	B	0.1%	0.05%	0.05%
	STX	B	0.1%	0.07%	0.07%
	STZ	C	0.07%	0.02%	0.02%
	SUI	C	0.03%	0.01%	0.01%
	SW	B	0.11%	0.03%	0.03%
	SWK	B	0.08%	0.03%	0.03%
	SWKS	F	0.05%	0.06%	0.05%
	SYF	C	0.27%	0.05%	0.05%
	SYK	C	0.13%	0.05%	0.05%
	SYY	C	0.1%	0.05%	0.05%
	T	B	1.39%	0.66%	0.66%
	TAP	D	0.05%	0.02%	0.02%
	TDG	B	0.08%	0.01%	0.01%
	TDY	B	0.02%	0.2%	0.02%
	TEL	D	0.11%	0.18%	0.11%
	TER	C	0.05%	0.06%	0.05%
	TFC	D	0.22%	0.14%	0.14%
	TFX	B	0.02%	0.01%	0.01%
	TGT	C	0.38%	0.1%	0.1%
	TJX	C	0.24%	0.56%	0.24%
	TMO	B	0.29%	0.13%	0.13%
	TMUS	B	0.24%	0.67%	0.24%
	TRGP	C	0.06%	0.02%	0.02%
	TRMB	C	0.03%	0.01%	0.01%
	TROW	C	0.11%	0.09%	0.09%
	TRU	B	0.03%	0.01%	0.01%
	TRV	C	0.31%	0.43%	0.31%
	TSCO	B	0.06%	0.09%	0.06%
	TSLA	C	0.18%	0.21%	0.18%
	TSN	D	0.2%	0.29%	0.2%
	TT	B	0.09%	0.25%	0.09%
	TTC	F	0.02%	0.03%	0.02%
	TTWO	D	0.02%	0.01%	0.01%
	TXN	B	0.34%	1.1%	0.34%
	TXT	D	0.06%	0.02%	0.02%
	UBER	C	0.04%	0.19%	0.04%
	UDR	C	0.03%	0.01%	0.01%
	UHAL	B	0.02%	0.01%	0.01%
	UHS	C	0.1%	0.02%	0.02%
	ULTA	D	0.03%	0.09%	0.03%
	UNH	C	1.23%	2.18%	1.23%
	UNP	D	0.4%	0.09%	0.09%
	UPS	D	0.25%	0.11%	0.11%
	URI	B	0.13%	0.04%	0.04%
	USB	C	0.3%	0.15%	0.15%
	V	C	0.35%	1.77%	0.35%
	VICI	C	0.02%	0.04%	0.02%
	VLO	F	0.37%	0.15%	0.15%
	VMC	C	0.04%	0.02%	0.02%
	VRSK	D	0.04%	0.14%	0.04%
	VRSN	C	0.01%	0.23%	0.01%
	VRTX	D	0.08%	0.6%	0.08%
	VST	B	0.12%	0.01%	0.01%
	VTR	C	0.09%	0.02%	0.02%
	VTRS	D	0.09%	0.05%	0.05%
	VZ	A	1.33%	0.86%	0.86%
	WAB	B	0.06%	0.02%	0.02%
	WAT	B	0.04%	0.06%	0.04%
	WBA	F	0.14%	0.07%	0.07%
	WBD	D	0.06%	0.11%	0.06%
	WDC	C	0.13%	0.02%	0.02%
	WEC	B	0.08%	0.28%	0.08%
	WELL	C	0.11%	0.03%	0.03%
	WFC	D	1.09%	0.38%	0.38%
	WLK	C	0.02%	0.01%	0.01%
	WM	D	0.15%	0.49%	0.15%
	WMB	C	0.15%	0.12%	0.12%
	WMT	B	1.5%	0.88%	0.88%
	WPC	C	0.02%	0.01%	0.01%
	WRB	D	0.04%	0.12%	0.04%
	WSM	C	0.06%	0.07%	0.06%
	WSO	C	0.03%	0.05%	0.03%
	WST	D	0.02%	0.06%	0.02%
	WTRG	D	0.01%	0.01%	0.01%
	WTW	B	0.07%	0.15%	0.07%
	WY	C	0.09%	0.03%	0.03%
	XEL	B	0.12%	0.19%	0.12%
	XOM	D	1.91%	0.8%	0.8%
	XYL	C	0.04%	0.02%	0.02%
	YUM	B	0.08%	0.18%	0.08%
	ZBH	F	0.05%	0.02%	0.02%
	ZBRA	B	0.04%	0.01%	0.01%
	ZTS	B	0.08%	0.27%	0.08%

FNDX Overweight 217 Positions Relative to QUS

	Symbol	Grade	Weight
	LUMN	C	0.58%
	JLL	B	0.09%
	MHK	B	0.08%
	X	F	0.08%
	THC	C	0.08%
	ARW	B	0.08%
	KSS	D	0.07%
	OGN	D	0.07%
	WHR	C	0.07%
	USFD	C	0.07%
	AVT	B	0.07%
	TOL	A	0.06%
	CMA	C	0.06%
	VFC	B	0.06%
	R	C	0.06%
	INGR	B	0.05%
	PNW	C	0.05%
	UGI	B	0.05%
	TDS	B	0.05%
	BWA	C	0.05%
	VNO	B	0.05%
	MUSA	D	0.05%
	GPI	B	0.05%
	ORI	B	0.05%
	KD	F	0.05%
	SFM	B	0.05%
	AA	C	0.05%
	UNM	B	0.05%
	DXC	D	0.05%
	MAN	C	0.05%
	AN	C	0.05%
	ZION	D	0.05%
	PFGC	B	0.05%
	LEA	D	0.05%
	OMF	D	0.05%
	M	F	0.05%
	FLEX	B	0.05%
	LAD	B	0.05%
	CASY	D	0.05%
	LNC	C	0.05%
	JEF	C	0.05%
	FL	F	0.04%
	LPX	B	0.04%
	AMG	C	0.04%
	HAS	B	0.04%
	SLM	C	0.04%
	BAP	B	0.04%
	MTH	C	0.04%
	WU	C	0.04%
	AYI	B	0.04%
	CNO	C	0.04%
	THO	C	0.04%
	FYBR	C	0.04%
	GAP	F	0.04%
	TMHC	B	0.04%
	JXN	B	0.04%
	TPR	A	0.04%
	DOX	C	0.04%
	PVH	D	0.04%
	EVR	B	0.04%
	ZIM	B	0.04%
	BERY	B	0.04%
	RGA	C	0.04%
	ALSN	B	0.04%
	IVZ	B	0.04%
	FAF	B	0.04%
	SKX	C	0.03%
	LAMR	B	0.03%
	SNX	C	0.03%
	ITT	B	0.03%
	GNTX	D	0.03%
	AAP	F	0.03%
	CW	B	0.03%
	SCI	C	0.03%
	HOG	C	0.03%
	MTG	B	0.03%
	FLR	D	0.03%
	CIEN	B	0.03%
	EWBC	C	0.03%
	SON	D	0.03%
	SAIC	C	0.03%
	CLF	F	0.03%
	BC	C	0.03%
	AER	C	0.03%
	SWN	C	0.03%
	FHN	D	0.03%
	JHG	B	0.03%
	BPOP	C	0.03%
	AGCO	D	0.03%
	CMC	D	0.03%
	VOYA	B	0.03%
	PBF	F	0.03%
	RRX	C	0.03%
	FMC	B	0.03%
	GT	F	0.03%
	NWL	C	0.03%
	CHKP	B	0.03%
	OLN	D	0.03%
	RL	B	0.03%
	MLI	B	0.03%
	SLG	C	0.03%
	ARMK	B	0.03%
	MTZ	C	0.03%
	GNW	C	0.03%
	TPH	C	0.03%
	OGE	B	0.03%
	RHI	D	0.03%
	NXST	D	0.03%
	GL	D	0.03%
	WCC	C	0.03%
	SANM	D	0.03%
	CCEP	C	0.03%
	KBH	C	0.03%
	CACI	B	0.03%
	HBI	A	0.03%
	GPK	C	0.03%
	HUN	C	0.03%
	UFPI	C	0.03%
	BCC	C	0.03%
	OSK	F	0.03%
	BLD	C	0.02%
	DAN	D	0.02%
	LEG	D	0.02%
	UNFI	B	0.02%
	OI	D	0.02%
	ICLR	F	0.02%
	CNX	B	0.02%
	GXO	D	0.02%
	FTI	D	0.02%
	MIDD	C	0.02%
	CZR	C	0.02%
	BECN	F	0.02%
	SM	F	0.02%
	LECO	D	0.02%
	WERN	C	0.02%
	MKSI	F	0.02%
	XRAY	D	0.02%
	FLO	C	0.02%
	CC	D	0.02%
	DAR	F	0.02%
	PRGO	F	0.02%
	REZI	D	0.02%
	TKR	C	0.02%
	KBR	D	0.02%
	CAR	D	0.02%
	CYH	C	0.02%
	HUBG	C	0.02%
	TGNA	C	0.02%
	CRI	D	0.02%
	GNRC	D	0.02%
	PENN	D	0.02%
	AL	C	0.02%
	JWN	C	0.02%
	POR	B	0.02%
	MUR	F	0.02%
	TPX	B	0.02%
	ASGN	D	0.02%
	NFG	B	0.02%
	RUSHA	C	0.02%
	NVT	C	0.02%
	ASO	D	0.02%
	PAG	D	0.02%
	NAVI	D	0.02%
	XRX	D	0.02%
	HRB	C	0.02%
	BTU	C	0.02%
	DCI	C	0.02%
	ST	D	0.02%
	QRTEA	F	0.02%
	AR	C	0.02%
	NOV	F	0.02%
	STWD	B	0.02%
	POST	B	0.02%
	ATR	B	0.02%
	BJ	D	0.02%
	AXTA	B	0.02%
	ABG	D	0.02%
	PK	D	0.02%
	PRI	B	0.02%
	ABM	D	0.02%
	G	C	0.02%
	MPW	C	0.02%
	MDU	B	0.02%
	PII	D	0.02%
	ALV	F	0.02%
	EXP	B	0.02%
	EHC	B	0.02%
	BRX	C	0.02%
	LSTR	D	0.02%
	SEE	C	0.02%
	CPRI	D	0.02%
	NSIT	C	0.02%
	THG	C	0.02%
	SNV	D	0.02%
	ALK	B	0.01%
	CNXC	F	0.01%
	HTZ	F	0.01%
	COHR	C	0.01%
	MATX	B	0.01%
	VSH	F	0.01%
	ANDE	D	0.01%
	DBX	C	0.01%
	MSM	D	0.01%
	ARCH	D	0.01%
	JAZZ	D	0.01%
	DK	F	0.01%
	VAC	D	0.01%
	CHE	C	0.01%
	AEO	D	0.01%
	MMS	B	0.01%
	TNL	C	0.01%
	ADNT	D	0.01%
	MTN	D	0.01%
	LILAK	D	0.01%
	SPTN	C	0.01%
	ODP	F	0.01%
	AAL	D	0.0%

FNDX Underweight 80 Positions Relative to QUS

	Symbol	Grade	Weight
	WCN	D	-0.53%
	ERIE	B	-0.22%
	FICO	B	-0.18%
	INCY	C	-0.18%
	ROL	C	-0.17%
	PTC	C	-0.17%
	WDAY	D	-0.15%
	MPWR	B	-0.12%
	NBIX	F	-0.11%
	UTHR	B	-0.1%
	ALNY	C	-0.09%
	VLTO	B	-0.09%
	BMRN	F	-0.09%
	MELI	C	-0.08%
	VEEV	C	-0.08%
	TW	B	-0.07%
	HUBS	D	-0.07%
	MANH	B	-0.07%
	TPL	C	-0.06%
	SMCI	F	-0.06%
	ENPH	D	-0.05%
	FDS	C	-0.05%
	CRWD	D	-0.05%
	PAYC	D	-0.03%
	MKTX	D	-0.03%
	CHRD	F	-0.02%
	ABNB	D	-0.02%
	TECH	C	-0.01%
	TYL	C	-0.01%
	VRT	C	-0.01%
	LYV	A	-0.01%
	APP	C	-0.01%
	Z	C	-0.01%
	ENTG	D	-0.01%
	BIO	C	-0.01%
	MTCH	C	-0.01%
	COIN	F	-0.01%
	RIVN	F	-0.01%
	DASH	B	-0.01%
	ARES	B	-0.01%
	TWLO	C	-0.01%
	RCL	B	-0.01%
	AMH	D	-0.01%
	CSGP	D	-0.01%
	FOX	B	-0.01%
	RPRX	C	-0.01%
	ZM	C	-0.01%
	CELH	F	-0.0%
	TEAM	D	-0.0%
	IOT	C	-0.0%
	ZS	F	-0.0%
	NET	D	-0.0%
	TOST	C	-0.0%
	RBLX	C	-0.0%
	MDB	D	-0.0%
	DKNG	C	-0.0%
	MSTR	C	-0.0%
	DDOG	D	-0.0%
	BSY	C	-0.0%
	PSTG	F	-0.0%
	SNAP	D	-0.0%
	DOCU	C	-0.0%
	H	B	-0.0%
	WYNN	C	-0.0%
	DAY	D	-0.0%
	DT	C	-0.0%
	PODD	C	-0.0%
	SNOW	F	-0.0%
	HEI	C	-0.0%
	AXON	B	-0.0%
	DXCM	F	-0.0%
	ROKU	D	-0.0%
	HOOD	C	-0.0%
	PINS	D	-0.0%
	HEI	C	-0.0%
	ELS	D	-0.0%
	EXAS	D	-0.0%
	PLTR	C	-0.0%
	OKTA	F	-0.0%
	TTD	B	-0.0%

FNDX: Top Represented Industries & Keywords

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

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

QUS: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Electronics Dow Jones Component Aerospace Chemical Telecommunications Real Estate Investment Trust Bank Medicine Semiconductor Cloud Computing Banking IBD 50 Insurance Products Mining