FNDX vs. QWLD ETF Comparison

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

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

$71.76

Average Daily Volume

414,949

Number of Holdings ^*

716

* may have additional holdings in another (foreign) market

QWLD

SPDR MSCI World Quality Mix ETF

QWLD Description

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

Grade (RS Rating)

Last Trade

$128.79

Average Daily Volume

4,451

Number of Holdings ^*

605

* may have additional holdings in another (foreign) market

Performance

Period	FNDX	QWLD
30 Days	1.73%	0.48%
60 Days	4.93%	5.52%
90 Days	7.32%	6.76%
12 Months	30.63%	29.25%

504 Overlapping Holdings

Symbol	Grade	Weight in FNDX	Weight in QWLD	Overlap
A	C	0.06%	0.07%	0.06%
AAPL	B	4.32%	2.55%	2.55%
ABBV	B	0.6%	0.4%	0.4%
ABBV	B	0.6%	0.15%	0.15%
ABT	C	0.34%	0.09%	0.09%
ACGL	C	0.05%	0.28%	0.05%
ACI	F	0.02%	0.02%	0.02%
ACM	B	0.04%	0.01%	0.01%
ACN	C	0.34%	0.62%	0.34%
ADBE	F	0.19%	0.44%	0.19%
ADI	C	0.13%	0.04%	0.04%
ADM	D	0.22%	0.05%	0.05%
ADP	B	0.14%	0.24%	0.14%
ADSK	B	0.03%	0.09%	0.03%
AEE	A	0.07%	0.08%	0.07%
AEP	B	0.19%	0.07%	0.07%
AER	C	0.03%	0.02%	0.02%
AES	C	0.07%	0.01%	0.01%
AFG	C	0.05%	0.02%	0.02%
AFL	A	0.23%	0.12%	0.12%
AGCO	D	0.03%	0.01%	0.01%
AIG	D	0.28%	0.07%	0.07%
AIZ	B	0.03%	0.07%	0.03%
AJG	D	0.05%	0.18%	0.05%
AKAM	D	0.03%	0.13%	0.03%
ALB	D	0.02%	0.01%	0.01%
ALGN	D	0.02%	0.01%	0.01%
ALL	C	0.29%	0.07%	0.07%
ALLE	A	0.02%	0.02%	0.02%
ALLY	F	0.1%	0.01%	0.01%
AMAT	C	0.25%	0.33%	0.25%
AMCR	B	0.02%	0.08%	0.02%
AMD	C	0.09%	0.04%	0.04%
AME	C	0.05%	0.01%	0.01%
AMGN	D	0.48%	0.19%	0.19%
AMP	A	0.12%	0.08%	0.08%
AMT	C	0.14%	0.03%	0.03%
AMZN	C	1.38%	0.35%	0.35%
ANET	B	0.04%	0.19%	0.04%
ANSS	D	0.02%	0.0%	0.0%
AON	C	0.12%	0.15%	0.12%
AOS	B	0.03%	0.02%	0.02%
APA	F	0.03%	0.03%	0.03%
APD	B	0.12%	0.03%	0.03%
APH	C	0.09%	0.4%	0.09%
APO	B	0.03%	0.01%	0.01%
APTV	D	0.04%	0.02%	0.02%
ARE	C	0.03%	0.01%	0.01%
ATO	A	0.04%	0.01%	0.01%
AVB	C	0.06%	0.01%	0.01%
AVGO	C	0.67%	0.12%	0.12%
AVTR	C	0.03%	0.01%	0.01%
AVY	C	0.04%	0.03%	0.03%
AWK	C	0.05%	0.01%	0.01%
AXP	A	0.37%	0.06%	0.06%
AZO	D	0.06%	0.27%	0.06%
BA	F	0.13%	0.01%	0.01%
BAC	C	1.22%	0.33%	0.33%
BAH	A	0.04%	0.16%	0.04%
BALL	C	0.06%	0.01%	0.01%
BAX	D	0.09%	0.02%	0.02%
BBWI	D	0.02%	0.0%	0.0%
BBY	A	0.19%	0.06%	0.06%
BDX	C	0.11%	0.07%	0.07%
BEN	F	0.04%	0.01%	0.01%
BG	F	0.11%	0.03%	0.03%
BIIB	F	0.1%	0.02%	0.02%
BK	B	0.26%	0.05%	0.05%
BKNG	B	0.2%	0.02%	0.02%
BKR	C	0.14%	0.02%	0.02%
BLDR	C	0.04%	0.05%	0.04%
BLK	A	0.25%	0.22%	0.22%
BMY	C	0.36%	0.19%	0.19%
BR	B	0.03%	0.04%	0.03%
BRK.A	C	2.26%	0.7%	0.7%
BRO	B	0.03%	0.13%	0.03%
BSX	B	0.09%	0.02%	0.02%
BURL	C	0.03%	0.01%	0.01%
BX	C	0.12%	0.02%	0.02%
BXP	B	0.05%	0.01%	0.01%
C	C	1.05%	0.22%	0.22%
CAG	B	0.07%	0.05%	0.05%
CAH	C	0.07%	0.12%	0.07%
CARR	B	0.13%	0.02%	0.02%
CAT	B	0.39%	0.35%	0.35%
CB	B	0.29%	0.4%	0.29%
CBOE	C	0.02%	0.25%	0.02%
CBRE	A	0.13%	0.03%	0.03%
CCEP	C	0.03%	0.01%	0.01%
CCI	B	0.11%	0.02%	0.02%
CCK	B	0.04%	0.01%	0.01%
CCL	C	0.05%	0.01%	0.01%
CDNS	D	0.03%	0.12%	0.03%
CDW	D	0.06%	0.09%	0.06%
CE	D	0.06%	0.01%	0.01%
CEG	C	0.1%	0.02%	0.02%
CF	B	0.06%	0.12%	0.06%
CFG	D	0.1%	0.03%	0.03%
CG	D	0.03%	0.01%	0.01%
CHD	C	0.04%	0.18%	0.04%
CHK	C	0.02%	0.02%	0.02%
CHKP	B	0.03%	0.19%	0.03%
CHRW	A	0.07%	0.01%	0.01%
CHTR	D	0.32%	0.05%	0.05%
CI	D	0.55%	0.19%	0.19%
CINF	B	0.07%	0.02%	0.02%
CL	C	0.16%	0.22%	0.16%
CLX	C	0.04%	0.01%	0.01%
CMCSA	C	0.74%	0.16%	0.16%
CME	A	0.08%	0.15%	0.08%
CMG	D	0.04%	0.13%	0.04%
CMI	B	0.17%	0.08%	0.08%
CMS	A	0.06%	0.05%	0.05%
CNC	D	0.25%	0.06%	0.06%
CNH	C	0.03%	0.01%	0.01%
CNP	C	0.06%	0.01%	0.01%
COF	B	0.39%	0.08%	0.08%
COP	F	0.42%	0.1%	0.1%
COST	C	0.72%	0.76%	0.72%
CPAY	B	0.05%	0.01%	0.01%
CPB	D	0.04%	0.1%	0.04%
CPRT	D	0.02%	0.07%	0.02%
CPT	C	0.02%	0.01%	0.01%
CRBG	C	0.03%	0.01%	0.01%
CRL	F	0.01%	0.0%	0.0%
CRM	C	0.12%	0.05%	0.05%
CSCO	A	0.74%	0.92%	0.74%
CSL	A	0.05%	0.03%	0.03%
CSX	D	0.21%	0.11%	0.11%
CTAS	B	0.09%	0.13%	0.09%
CTLT	B	0.02%	0.01%	0.01%
CTRA	F	0.01%	0.02%	0.01%
CTSH	B	0.18%	0.2%	0.18%
CTVA	A	0.09%	0.04%	0.04%
CVS	D	0.68%	0.17%	0.17%
CVX	D	1.07%	0.29%	0.29%
D	B	0.19%	0.06%	0.06%
DAL	C	0.02%	0.01%	0.01%
DD	B	0.18%	0.02%	0.02%
DE	A	0.22%	0.06%	0.06%
DECK	C	0.03%	0.04%	0.03%
DELL	D	0.01%	0.01%	0.01%
DFS	C	0.21%	0.03%	0.03%
DG	F	0.08%	0.01%	0.01%
DGX	B	0.07%	0.1%	0.07%
DHI	C	0.2%	0.12%	0.12%
DHR	B	0.17%	0.06%	0.06%
DINO	F	0.05%	0.05%	0.05%
DIS	D	0.38%	0.08%	0.08%
DKS	D	0.05%	0.03%	0.03%
DLR	B	0.08%	0.02%	0.02%
DLTR	F	0.05%	0.01%	0.01%
DOC	B	0.04%	0.01%	0.01%
DOV	B	0.06%	0.04%	0.04%
DOW	C	0.19%	0.04%	0.04%
DPZ	D	0.04%	0.06%	0.04%
DRI	C	0.05%	0.03%	0.03%
DTE	A	0.08%	0.02%	0.02%
DUK	C	0.34%	0.37%	0.34%
DVA	B	0.07%	0.01%	0.01%
DVN	F	0.08%	0.03%	0.03%
EA	D	0.08%	0.17%	0.08%
EBAY	A	0.2%	0.01%	0.01%
ECL	A	0.09%	0.01%	0.01%
ED	B	0.13%	0.37%	0.13%
EFX	C	0.04%	0.01%	0.01%
EG	C	0.03%	0.06%	0.03%
EIX	B	0.11%	0.03%	0.03%
EL	D	0.04%	0.01%	0.01%
ELV	D	0.5%	0.27%	0.27%
EME	B	0.06%	0.04%	0.04%
EMN	B	0.08%	0.01%	0.01%
EMR	C	0.15%	0.02%	0.02%
EOG	D	0.2%	0.05%	0.05%
EPAM	F	0.02%	0.02%	0.02%
EQH	C	0.05%	0.01%	0.01%
EQIX	B	0.08%	0.01%	0.01%
EQR	C	0.06%	0.01%	0.01%
EQT	C	0.03%	0.01%	0.01%
ES	A	0.09%	0.02%	0.02%
ESS	C	0.04%	0.01%	0.01%
ETN	B	0.21%	0.03%	0.03%
ETR	A	0.11%	0.02%	0.02%
EVRG	B	0.07%	0.01%	0.01%
EW	F	0.04%	0.07%	0.04%
EXC	A	0.18%	0.03%	0.03%
EXPD	A	0.02%	0.04%	0.02%
EXPE	C	0.03%	0.01%	0.01%
EXR	B	0.04%	0.01%	0.01%
F	F	0.31%	0.09%	0.09%
FANG	F	0.05%	0.09%	0.05%
FAST	C	0.07%	0.08%	0.07%
FCNCA	D	0.02%	0.1%	0.02%
FCX	C	0.14%	0.03%	0.03%
FDX	D	0.33%	0.06%	0.06%
FE	B	0.1%	0.01%	0.01%
FFIV	B	0.03%	0.15%	0.03%
FIS	C	0.13%	0.02%	0.02%
FITB	B	0.13%	0.03%	0.03%
FNF	A	0.07%	0.01%	0.01%
FOXA	A	0.09%	0.01%	0.01%
FSLR	C	0.02%	0.01%	0.01%
FTNT	A	0.03%	0.01%	0.01%
FTV	C	0.03%	0.01%	0.01%
GD	C	0.23%	0.19%	0.19%
GDDY	C	0.02%	0.21%	0.02%
GE	B	0.18%	0.33%	0.18%
GEHC	A	0.07%	0.02%	0.02%
GEV	B	0.05%	0.02%	0.02%
GGG	C	0.02%	0.03%	0.02%
GILD	B	0.35%	0.23%	0.23%
GIS	C	0.13%	0.38%	0.13%
GLPI	B	0.02%	0.01%	0.01%
GLW	B	0.14%	0.02%	0.02%
GM	D	0.69%	0.15%	0.15%
GOOG	D	1.07%	0.87%	0.87%
GOOGL	D	1.23%	0.99%	0.99%
GPC	D	0.05%	0.06%	0.05%
GPN	D	0.08%	0.02%	0.02%
GRMN	D	0.04%	0.04%	0.04%
GS	B	0.57%	0.14%	0.14%
GWW	B	0.07%	0.1%	0.07%
HAL	F	0.06%	0.02%	0.02%
HBAN	B	0.07%	0.03%	0.03%
HCA	A	0.26%	0.04%	0.04%
HD	A	0.79%	0.14%	0.14%
HES	D	0.04%	0.01%	0.01%
HIG	A	0.15%	0.03%	0.03%
HII	D	0.04%	0.01%	0.01%
HLT	B	0.06%	0.01%	0.01%
HOLX	B	0.04%	0.01%	0.01%
HON	C	0.34%	0.23%	0.23%
HPE	C	0.18%	0.03%	0.03%
HPQ	C	0.2%	0.04%	0.04%
HRL	F	0.03%	0.1%	0.03%
HSIC	C	0.04%	0.01%	0.01%
HST	D	0.04%	0.01%	0.01%
HSY	D	0.04%	0.18%	0.04%
HUBB	B	0.03%	0.04%	0.03%
HUM	F	0.2%	0.17%	0.17%
HWM	A	0.06%	0.01%	0.01%
IBM	B	0.62%	0.49%	0.49%
ICE	B	0.13%	0.03%	0.03%
IDXX	D	0.03%	0.09%	0.03%
IEX	C	0.02%	0.02%	0.02%
IFF	B	0.06%	0.01%	0.01%
ILMN	D	0.03%	0.0%	0.0%
INTC	D	0.64%	0.09%	0.09%
INTU	D	0.1%	0.24%	0.1%
INVH	D	0.03%	0.01%	0.01%
IP	C	0.16%	0.02%	0.02%
IPG	C	0.04%	0.02%	0.02%
IQV	D	0.08%	0.01%	0.01%
IR	B	0.03%	0.01%	0.01%
IRM	B	0.08%	0.01%	0.01%
ISRG	B	0.09%	0.23%	0.09%
IT	C	0.03%	0.03%	0.03%
ITW	B	0.15%	0.13%	0.13%
J	D	0.06%	0.01%	0.01%
JBHT	D	0.04%	0.03%	0.03%
JBL	D	0.05%	0.01%	0.01%
JCI	A	0.15%	0.03%	0.03%
JKHY	A	0.02%	0.06%	0.02%
JNJ	C	1.0%	1.15%	1.0%
JNPR	B	0.05%	0.13%	0.05%
JPM	D	1.93%	0.52%	0.52%
K	A	0.07%	0.22%	0.07%
KDP	B	0.08%	0.16%	0.08%
KEY	B	0.09%	0.02%	0.02%
KEYS	B	0.03%	0.17%	0.03%
KHC	C	0.11%	0.22%	0.11%
KIM	C	0.03%	0.01%	0.01%
KKR	C	0.12%	0.02%	0.02%
KLAC	D	0.1%	0.18%	0.1%
KMB	C	0.11%	0.12%	0.11%
KMI	B	0.19%	0.03%	0.03%
KMX	D	0.07%	0.01%	0.01%
KNX	C	0.04%	0.01%	0.01%
KO	B	0.43%	0.64%	0.43%
KR	A	0.3%	0.3%	0.3%
KVUE	B	0.03%	0.08%	0.03%
L	D	0.05%	0.16%	0.05%
LDOS	A	0.08%	0.01%	0.01%
LEN	B	0.19%	0.09%	0.09%
LHX	B	0.16%	0.02%	0.02%
LII	C	0.03%	0.0%	0.0%
LIN	B	0.35%	0.06%	0.06%
LKQ	F	0.05%	0.01%	0.01%
LLY	D	0.26%	1.39%	0.26%
LMT	A	0.4%	0.45%	0.4%
LNG	D	0.05%	0.05%	0.05%
LNT	A	0.04%	0.03%	0.03%
LOW	A	0.42%	0.07%	0.07%
LPLA	D	0.03%	0.03%	0.03%
LRCX	D	0.16%	0.2%	0.16%
LULU	D	0.02%	0.06%	0.02%
LUV	C	0.02%	0.0%	0.0%
LVS	C	0.03%	0.0%	0.0%
LW	D	0.01%	0.0%	0.0%
LYB	D	0.15%	0.03%	0.03%
MA	B	0.28%	0.67%	0.28%
MAA	C	0.04%	0.01%	0.01%
MAR	C	0.08%	0.01%	0.01%
MAS	A	0.06%	0.01%	0.01%
MCD	A	0.34%	0.42%	0.34%
MCHP	D	0.05%	0.07%	0.05%
MCK	F	0.1%	0.47%	0.1%
MCO	C	0.08%	0.13%	0.08%
MDLZ	C	0.23%	0.16%	0.16%
MDT	A	0.27%	0.06%	0.06%
MET	A	0.26%	0.05%	0.05%
META	B	1.85%	2.11%	1.85%
MGM	D	0.05%	0.01%	0.01%
MKC	C	0.04%	0.01%	0.01%
MKL	C	0.05%	0.12%	0.05%
MLM	D	0.04%	0.01%	0.01%
MMC	D	0.15%	0.51%	0.15%
MMM	B	0.4%	0.14%	0.14%
MNST	D	0.04%	0.06%	0.04%
MO	C	0.37%	0.04%	0.04%
MOH	D	0.05%	0.07%	0.05%
MOS	F	0.05%	0.02%	0.02%
MPC	F	0.41%	0.18%	0.18%
MRK	F	0.51%	0.5%	0.5%
MRNA	F	0.04%	0.01%	0.01%
MRO	D	0.08%	0.02%	0.02%
MRVL	D	0.04%	0.01%	0.01%
MS	B	0.36%	0.09%	0.09%
MSCI	C	0.03%	0.0%	0.0%
MSFT	C	2.53%	2.36%	2.36%
MSI	A	0.06%	0.58%	0.06%
MTB	B	0.1%	0.04%	0.04%
MU	D	0.35%	0.04%	0.04%
NDAQ	C	0.03%	0.01%	0.01%
NDSN	C	0.02%	0.02%	0.02%
NEE	B	0.29%	0.06%	0.06%
NEM	C	0.19%	0.05%	0.05%
NFLX	B	0.15%	0.46%	0.15%
NI	A	0.05%	0.01%	0.01%
NKE	D	0.18%	0.19%	0.18%
NOC	B	0.21%	0.34%	0.21%
NOW	C	0.01%	0.01%	0.01%
NRG	B	0.11%	0.01%	0.01%
NSC	C	0.2%	0.03%	0.03%
NTAP	D	0.08%	0.04%	0.04%
NTRS	C	0.07%	0.01%	0.01%
NUE	D	0.18%	0.04%	0.04%
NVDA	C	0.37%	2.04%	0.37%
NVR	A	0.08%	0.07%	0.07%
NWSA	D	0.04%	0.01%	0.01%
NXPI	F	0.08%	0.02%	0.02%
O	A	0.04%	0.02%	0.02%
OC	C	0.06%	0.03%	0.03%
ODFL	C	0.05%	0.07%	0.05%
OKE	C	0.13%	0.03%	0.03%
OMC	A	0.08%	0.04%	0.04%
ON	D	0.04%	0.01%	0.01%
ORCL	B	0.49%	0.23%	0.23%
ORLY	B	0.1%	0.22%	0.1%
OTIS	B	0.05%	0.01%	0.01%
OVV	F	0.04%	0.02%	0.02%
OXY	F	0.11%	0.04%	0.04%
PANW	C	0.03%	0.16%	0.03%
PARA	F	0.09%	0.01%	0.01%
PAYX	B	0.06%	0.09%	0.06%
PCAR	D	0.13%	0.1%	0.1%
PCG	C	0.03%	0.03%	0.03%
PEG	A	0.11%	0.02%	0.02%
PEP	D	0.45%	0.83%	0.45%
PFE	D	0.76%	0.21%	0.21%
PFG	B	0.08%	0.02%	0.02%
PG	C	0.85%	0.96%	0.85%
PGR	C	0.26%	0.34%	0.26%
PH	B	0.12%	0.02%	0.02%
PHM	B	0.13%	0.07%	0.07%
PKG	B	0.07%	0.03%	0.03%
PLD	C	0.08%	0.05%	0.05%
PM	C	0.51%	0.06%	0.06%
PNC	B	0.29%	0.08%	0.08%
PNR	A	0.04%	0.03%	0.03%
POOL	C	0.02%	0.03%	0.02%
PPG	D	0.08%	0.01%	0.01%
PPL	A	0.11%	0.01%	0.01%
PRU	C	0.23%	0.04%	0.04%
PSA	A	0.06%	0.09%	0.06%
PSX	F	0.36%	0.14%	0.14%
PWR	B	0.06%	0.01%	0.01%
PYPL	B	0.19%	0.04%	0.04%
QCOM	D	0.46%	0.33%	0.33%
QRVO	F	0.05%	0.01%	0.01%
REG	C	0.03%	0.01%	0.01%
REGN	D	0.16%	0.44%	0.16%
RF	A	0.08%	0.03%	0.03%
RJF	C	0.04%	0.01%	0.01%
RMD	C	0.04%	0.05%	0.04%
ROK	D	0.05%	0.05%	0.05%
ROP	C	0.05%	0.49%	0.05%
ROST	C	0.08%	0.02%	0.02%
RPM	C	0.04%	0.01%	0.01%
RS	D	0.08%	0.01%	0.01%
RSG	D	0.07%	0.44%	0.07%
RTX	B	0.36%	0.09%	0.09%
SBAC	C	0.02%	0.01%	0.01%
SBUX	C	0.26%	0.03%	0.03%
SCHW	D	0.1%	0.03%	0.03%
SEIC	C	0.02%	0.01%	0.01%
SHW	B	0.09%	0.14%	0.09%
SJM	C	0.06%	0.08%	0.06%
SLB	F	0.11%	0.03%	0.03%
SNA	B	0.04%	0.03%	0.03%
SNPS	F	0.03%	0.12%	0.03%
SO	A	0.29%	0.47%	0.29%
SOLV	D	0.04%	0.03%	0.03%
SPG	B	0.11%	0.02%	0.02%
SPGI	C	0.15%	0.04%	0.04%
SQ	D	0.02%	0.01%	0.01%
SRE	A	0.12%	0.03%	0.03%
SSNC	C	0.04%	0.01%	0.01%
STE	B	0.03%	0.01%	0.01%
STLD	C	0.09%	0.02%	0.02%
STT	B	0.1%	0.03%	0.03%
STX	B	0.1%	0.01%	0.01%
STZ	C	0.07%	0.01%	0.01%
SUI	C	0.03%	0.01%	0.01%
SW	B	0.11%	0.02%	0.02%
SWK	A	0.08%	0.02%	0.02%
SWKS	F	0.05%	0.03%	0.03%
SYF	C	0.27%	0.03%	0.03%
SYK	C	0.13%	0.03%	0.03%
SYY	C	0.1%	0.03%	0.03%
T	B	1.39%	0.36%	0.36%
TAP	D	0.05%	0.01%	0.01%
TDG	A	0.08%	0.01%	0.01%
TDY	B	0.02%	0.05%	0.02%
TEL	C	0.11%	0.08%	0.08%
TER	C	0.05%	0.03%	0.03%
TFC	D	0.22%	0.08%	0.08%
TFX	B	0.02%	0.01%	0.01%
TGT	C	0.38%	0.15%	0.15%
TJX	C	0.24%	0.34%	0.24%
TMO	B	0.29%	0.07%	0.07%
TMUS	B	0.24%	0.64%	0.24%
TRGP	C	0.06%	0.03%	0.03%
TRMB	C	0.03%	0.01%	0.01%
TROW	D	0.11%	0.05%	0.05%
TRU	B	0.03%	0.01%	0.01%
TRV	C	0.31%	0.27%	0.27%
TSCO	A	0.06%	0.05%	0.05%
TSLA	B	0.18%	0.12%	0.12%
TSN	D	0.2%	0.13%	0.13%
TT	A	0.09%	0.14%	0.09%
TTC	F	0.02%	0.02%	0.02%
TTWO	C	0.02%	0.01%	0.01%
TXN	B	0.34%	0.48%	0.34%
TXT	D	0.06%	0.01%	0.01%
UBER	C	0.04%	0.01%	0.01%
UDR	C	0.03%	0.0%	0.0%
UHAL	B	0.02%	0.01%	0.01%
UHS	C	0.1%	0.01%	0.01%
ULTA	D	0.03%	0.07%	0.03%
UNH	B	1.23%	1.29%	1.23%
UNP	C	0.4%	0.27%	0.27%
UPS	D	0.25%	0.06%	0.06%
URI	B	0.13%	0.02%	0.02%
USB	B	0.3%	0.08%	0.08%
V	C	0.35%	1.11%	0.35%
VICI	B	0.02%	0.02%	0.02%
VLO	F	0.37%	0.07%	0.07%
VMC	C	0.04%	0.01%	0.01%
VRSK	D	0.04%	0.0%	0.0%
VRSN	C	0.01%	0.14%	0.01%
VRTX	D	0.08%	0.42%	0.08%
VST	B	0.12%	0.01%	0.01%
VTR	B	0.09%	0.01%	0.01%
VTRS	D	0.09%	0.03%	0.03%
VZ	B	1.33%	0.6%	0.6%
WAB	B	0.06%	0.01%	0.01%
WAT	B	0.04%	0.04%	0.04%
WBA	F	0.14%	0.04%	0.04%
WBD	D	0.06%	0.06%	0.06%
WDC	C	0.13%	0.01%	0.01%
WEC	A	0.08%	0.19%	0.08%
WELL	B	0.11%	0.02%	0.02%
WFC	D	1.09%	0.21%	0.21%
WLK	C	0.02%	0.0%	0.0%
WM	D	0.15%	0.49%	0.15%
WMB	B	0.15%	0.16%	0.15%
WMT	B	1.5%	0.72%	0.72%
WPC	B	0.02%	0.01%	0.01%
WRB	C	0.04%	0.13%	0.04%
WSM	C	0.06%	0.04%	0.04%
WSO	C	0.03%	0.03%	0.03%
WST	D	0.02%	0.03%	0.02%
WTRG	D	0.01%	0.01%	0.01%
WTW	A	0.07%	0.07%	0.07%
WY	C	0.09%	0.02%	0.02%
XEL	A	0.12%	0.08%	0.08%
XOM	B	1.91%	0.46%	0.46%
XRX	D	0.02%	0.0%	0.0%
XYL	C	0.04%	0.01%	0.01%
YUM	B	0.08%	0.14%	0.08%
ZBH	F	0.05%	0.01%	0.01%
ZBRA	B	0.04%	0.01%	0.01%
ZTS	B	0.08%	0.16%	0.08%

FNDX Overweight 213 Positions Relative to QWLD

Symbol	Grade	Weight
LUMN	C	0.58%
JLL	B	0.09%
MHK	B	0.08%
X	F	0.08%
THC	B	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	B	0.06%
CMA	B	0.06%
VFC	B	0.06%
R	C	0.06%
INGR	A	0.05%
PNW	C	0.05%
UGI	B	0.05%
TDS	C	0.05%
BWA	C	0.05%
VNO	B	0.05%
MUSA	D	0.05%
GPI	C	0.05%
ORI	B	0.05%
KD	F	0.05%
SFM	A	0.05%
AA	C	0.05%
UNM	A	0.05%
DXC	D	0.05%
MAN	C	0.05%
AN	C	0.05%
ZION	D	0.05%
PFGC	B	0.05%
LEA	F	0.05%
OMF	D	0.05%
M	D	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%
MTD	B	0.04%
LPX	B	0.04%
AMG	C	0.04%
HAS	A	0.04%
SLM	C	0.04%
BAP	B	0.04%
MTH	C	0.04%
WU	D	0.04%
AYI	A	0.04%
CNO	B	0.04%
THO	C	0.04%
FYBR	C	0.04%
GAP	D	0.04%
TMHC	B	0.04%
JXN	B	0.04%
TPR	B	0.04%
DOX	C	0.04%
PVH	D	0.04%
EVR	C	0.04%
ZIM	B	0.04%
BERY	C	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	F	0.03%
AAP	F	0.03%
CW	B	0.03%
SCI	C	0.03%
HOG	D	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%
SWN	C	0.03%
FHN	D	0.03%
JHG	B	0.03%
BPOP	C	0.03%
CMC	D	0.03%
VOYA	A	0.03%
PBF	F	0.03%
RRX	C	0.03%
FMC	B	0.03%
GT	F	0.03%
NWL	C	0.03%
OLN	D	0.03%
RL	B	0.03%
MLI	A	0.03%
SLG	C	0.03%
ARMK	A	0.03%
MTZ	B	0.03%
GNW	B	0.03%
TPH	C	0.03%
OGE	B	0.03%
RHI	D	0.03%
NXST	D	0.03%
GL	D	0.03%
WCC	D	0.03%
SANM	D	0.03%
KBH	C	0.03%
CACI	A	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	F	0.02%
LEG	D	0.02%
UNFI	B	0.02%
OI	D	0.02%
ICLR	F	0.02%
CNX	A	0.02%
GXO	D	0.02%
FTI	D	0.02%
MIDD	D	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	B	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	C	0.02%
ASGN	D	0.02%
NFG	A	0.02%
RUSHA	C	0.02%
NVT	C	0.02%
ASO	D	0.02%
PAG	D	0.02%
NAVI	D	0.02%
HRB	C	0.02%
BTU	B	0.02%
DCI	C	0.02%
ST	F	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	C	0.02%
ABG	D	0.02%
PK	D	0.02%
PRI	B	0.02%
ABM	D	0.02%
G	B	0.02%
MPW	D	0.02%
MDU	B	0.02%
PII	D	0.02%
ALV	F	0.02%
EXP	B	0.02%
EHC	B	0.02%
BRX	B	0.02%
LSTR	D	0.02%
SEE	C	0.02%
CPRI	C	0.02%
NSIT	C	0.02%
THG	B	0.02%
SNV	C	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	F	0.01%
CHE	C	0.01%
AEO	D	0.01%
MMS	A	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 101 Positions Relative to QWLD

Symbol	Grade	Weight
NVS	C	-0.88%
UL	B	-0.3%
WCN	D	-0.26%
MFG	D	-0.2%
ERIE	B	-0.16%
TM	D	-0.15%
TD	C	-0.14%
UTHR	B	-0.14%
DEO	C	-0.13%
E	D	-0.13%
INCY	C	-0.12%
MUFG	D	-0.12%
CNI	D	-0.11%
NBIX	F	-0.11%
BCS	B	-0.1%
SMFG	D	-0.09%
STLA	F	-0.09%
LYG	B	-0.09%
ROL	B	-0.08%
SONY	C	-0.08%
HMC	D	-0.08%
PTC	C	-0.07%
BMRN	F	-0.07%
MPWR	B	-0.06%
LOGI	D	-0.06%
MT	C	-0.05%
BTI	C	-0.05%
VLTO	A	-0.05%
SMCI	F	-0.04%
MANH	B	-0.04%
TPL	C	-0.04%
WDAY	D	-0.04%
FICO	B	-0.04%
VEEV	D	-0.04%
FDS	C	-0.03%
ENPH	D	-0.03%
MKTX	D	-0.02%
NMR	F	-0.02%
PAYC	D	-0.02%
OTEX	D	-0.01%
FOX	A	-0.01%
RPRX	C	-0.01%
ZM	C	-0.01%
MBAVU	D	-0.01%
SE	B	-0.01%
CHRD	F	-0.01%
ABNB	D	-0.01%
WFG	A	-0.01%
BSY	C	-0.01%
MELI	C	-0.01%
GLBE	C	-0.0%
IOT	C	-0.0%
NET	D	-0.0%
TOST	C	-0.0%
RBLX	C	-0.0%
DDOG	D	-0.0%
DKNG	D	-0.0%
SNAP	D	-0.0%
FUTU	C	-0.0%
MSTR	C	-0.0%
H	C	-0.0%
PSTG	F	-0.0%
DOCU	C	-0.0%
DAY	C	-0.0%
HEI	C	-0.0%
GRAB	B	-0.0%
DT	C	-0.0%
PINS	D	-0.0%
SNOW	F	-0.0%
PODD	C	-0.0%
WYNN	C	-0.0%
APP	B	-0.0%
HOOD	C	-0.0%
DXCM	F	-0.0%
CRWD	D	-0.0%
ROKU	D	-0.0%
OKTA	F	-0.0%
TECH	C	-0.0%
TTD	B	-0.0%
TYL	B	-0.0%
EXAS	D	-0.0%
TW	A	-0.0%
PLTR	B	-0.0%
AXON	A	-0.0%
Z	C	-0.0%
ELS	C	-0.0%
HEI	C	-0.0%
LYV	A	-0.0%
VRT	C	-0.0%
ENTG	D	-0.0%
RIVN	F	-0.0%
DASH	B	-0.0%
COIN	F	-0.0%
QGEN	D	-0.0%
RCL	B	-0.0%
BIO	C	-0.0%
MTCH	C	-0.0%
CSGP	F	-0.0%
ARES	C	-0.0%
TWLO	C	-0.0%
AMH	C	-0.0%