GUSA vs. PNQI ETF Comparison

Comparison of Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) to PowerShares Nasdaq Internet Portfolio (PNQI)

GUSA

Goldman Sachs MarketBeta U.S. 1000 Equity ETF

GUSA Description

The fund seeks to invest at least 80% of its assets in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index is designed to measure the performance of equity securities of large and mid-capitalization equity issuers covering approximately the largest 1,000 of the free-float market capitalization in the U.S.

Grade (RS Rating)

Last Trade

$45.89

Average Daily Volume

1,013

Number of Holdings ^*

972

* may have additional holdings in another (foreign) market

PNQI

PowerShares Nasdaq Internet Portfolio

PNQI Description

The PowerShares NASDAQ Internet Portfolio (Fund) is based on the NASDAQ Internet IndexÂ® (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of the largest and most liquid US-listed companies engaged in internet-related businesses and that are listed on one of the major US stock exchanges. The Underlying Index employs a modified market capitalization-weighted methodology based on the market capitalization ranking of the Underlying Index securities. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$40.20

Average Daily Volume

72,806

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GUSA	PNQI
30 Days	5.04%	3.96%
60 Days	3.18%	2.03%
90 Days	6.08%	3.74%
12 Months	29.46%	37.06%

43 Overlapping Holdings

Symbol	Grade	Weight in GUSA	Weight in PNQI	Overlap
AAPL	C	5.7%	8.01%	5.7%
ABNB	D	0.13%	2.4%	0.13%
ADBE	F	0.46%	3.45%	0.46%
AKAM	F	0.03%	0.54%	0.03%
AMZN	C	3.56%	8.42%	3.56%
BKNG	C	0.27%	4.18%	0.27%
CHWY	F	0.0%	0.07%	0.0%
COIN	D	0.08%	1.43%	0.08%
CPNG	B	0.05%	1.2%	0.05%
CRM	D	0.54%	3.57%	0.54%
CSGP	D	0.08%	1.28%	0.08%
DASH	D	0.07%	1.47%	0.07%
DBX	D	0.01%	0.21%	0.01%
DIS	D	0.4%	3.74%	0.4%
DKNG	C	0.04%	0.7%	0.04%
DLO	F	0.0%	0.07%	0.0%
DOCU	C	0.02%	0.41%	0.02%
EBAY	C	0.05%	0.89%	0.05%
ETSY	F	0.02%	0.26%	0.02%
EXPE	F	0.03%	0.5%	0.03%
GDDY	B	0.04%	0.65%	0.04%
GOOG	A	1.76%	9.7%	1.76%
GTLB	D	0.01%	0.24%	0.01%
LYFT	D	0.01%	0.24%	0.01%
MELI	B	0.16%	3.01%	0.16%
META	D	2.18%	7.63%	2.18%
MSFT	B	6.3%	7.86%	6.3%
NFLX	B	0.54%	4.0%	0.54%
OKTA	D	0.03%	0.54%	0.03%
PCTY	C	0.01%	0.33%	0.01%
PINS	B	0.05%	0.88%	0.05%
PYPL	D	0.15%	2.37%	0.15%
RBLX	F	0.03%	0.78%	0.03%
ROKU	F	0.02%	0.26%	0.02%
SNAP	C	0.04%	0.81%	0.04%
SPOT	C	0.09%	2.04%	0.09%
SPSC	C	0.01%	0.24%	0.01%
U	F	0.01%	0.32%	0.01%
UBER	D	0.28%	3.31%	0.28%
VRSN	F	0.03%	0.59%	0.03%
W	C	0.01%	0.22%	0.01%
Z	F	0.01%	0.25%	0.01%
ZM	D	0.03%	0.54%	0.03%

GUSA Overweight 929 Positions Relative to PNQI

Symbol	Grade	Weight
NVDA	C	4.39%
GOOGL	A	2.11%
LLY	B	1.36%
AVGO	B	1.25%
JPM	A	1.19%
XOM	B	1.12%
BRK.A	B	1.1%
TSLA	D	0.99%
UNH	C	0.98%
V	B	0.92%
PG	A	0.82%
MA	D	0.8%
JNJ	D	0.75%
HD	D	0.73%
COST	B	0.72%
MRK	B	0.69%
ABBV	D	0.59%
CVX	B	0.59%
BAC	B	0.55%
WMT	A	0.54%
AMD	D	0.51%
KO	B	0.51%
PEP	B	0.51%
WFC	C	0.46%
TMO	B	0.46%
LIN	D	0.44%
QCOM	B	0.42%
CSCO	F	0.41%
MCD	F	0.41%
ACN	F	0.4%
ABT	F	0.38%
ORCL	C	0.38%
GE	C	0.38%
CAT	C	0.37%
INTU	B	0.36%
AMAT	B	0.36%
DHR	A	0.35%
AMGN	B	0.35%
VZ	C	0.35%
TXN	B	0.35%
PFE	D	0.33%
CMCSA	F	0.32%
PM	B	0.32%
NOW	C	0.31%
GS	A	0.31%
UNP	C	0.31%
NEE	B	0.31%
IBM	D	0.31%
COP	D	0.3%
AXP	A	0.29%
RTX	B	0.29%
ETN	C	0.28%
ISRG	B	0.28%
LOW	D	0.28%
SPGI	B	0.28%
ELV	A	0.27%
MU	B	0.27%
HON	B	0.27%
T	B	0.26%
MS	B	0.26%
PGR	C	0.26%
INTC	F	0.26%
LRCX	D	0.25%
C	B	0.25%
TJX	B	0.24%
NKE	F	0.24%
BLK	B	0.24%
BSX	A	0.23%
MDT	B	0.23%
LMT	B	0.23%
CI	D	0.22%
ADI	B	0.22%
SCHW	B	0.22%
SYK	D	0.22%
DE	D	0.22%
UPS	D	0.22%
VRTX	B	0.22%
PLD	F	0.21%
REGN	B	0.21%
BA	D	0.21%
MMC	A	0.21%
ADP	B	0.21%
CB	A	0.21%
PANW	C	0.2%
MDLZ	C	0.2%
KLAC	B	0.2%
BMY	F	0.19%
TMUS	B	0.18%
SBUX	F	0.18%
SO	A	0.18%
WM	B	0.18%
BX	C	0.18%
AMT	C	0.18%
CMG	B	0.18%
DUK	A	0.17%
MO	A	0.17%
GILD	F	0.17%
SNPS	C	0.17%
APH	B	0.16%
ITW	D	0.16%
TGT	D	0.16%
TT	B	0.16%
SHW	D	0.16%
EOG	C	0.16%
ICE	B	0.16%
CME	C	0.16%
CDNS	D	0.16%
ZTS	D	0.16%
CL	B	0.16%
ANET	B	0.15%
NOC	C	0.15%
CRWD	C	0.15%
CVS	F	0.15%
PH	D	0.15%
EQIX	D	0.15%
MCK	A	0.15%
FCX	A	0.15%
EMR	B	0.14%
MPC	D	0.14%
GD	A	0.14%
CSX	D	0.14%
BDX	F	0.14%
TDG	C	0.14%
CEG	C	0.14%
KKR	B	0.14%
SLB	F	0.14%
CTAS	B	0.13%
MSI	A	0.13%
ORLY	D	0.13%
USB	D	0.13%
PNC	B	0.13%
PSX	D	0.13%
HCA	C	0.13%
MCO	A	0.13%
ROP	C	0.12%
PCAR	D	0.12%
AON	F	0.12%
MRVL	C	0.12%
WELL	B	0.12%
ECL	A	0.12%
FDX	D	0.12%
MAR	D	0.12%
TRV	D	0.11%
WDAY	D	0.11%
NSC	D	0.11%
HLT	D	0.11%
AZO	D	0.11%
TFC	B	0.11%
CARR	B	0.11%
GM	B	0.11%
AJG	A	0.11%
EW	D	0.11%
VLO	D	0.11%
COF	C	0.11%
MMM	A	0.11%
AIG	A	0.11%
APD	C	0.11%
KMB	C	0.1%
URI	C	0.1%
OKE	B	0.1%
ADSK	F	0.1%
CPRT	D	0.1%
O	C	0.1%
F	D	0.1%
AEP	A	0.1%
SRE	A	0.1%
WMB	A	0.1%
SPG	C	0.1%
MCHP	B	0.1%
SNOW	D	0.1%
NEM	B	0.1%
DXCM	D	0.1%
IQV	D	0.09%
STZ	D	0.09%
IDXX	C	0.09%
CNC	B	0.09%
LHX	A	0.09%
PLTR	D	0.09%
NUE	D	0.09%
DOW	B	0.09%
FIS	A	0.09%
A	B	0.09%
PRU	A	0.09%
AMP	B	0.09%
CCI	D	0.09%
PSA	C	0.09%
MET	A	0.09%
BK	A	0.09%
D	A	0.09%
HES	C	0.09%
AFL	A	0.09%
DLR	C	0.09%
DHI	D	0.09%
JCI	B	0.09%
OXY	D	0.09%
ALL	C	0.09%
TEL	B	0.09%
ROST	D	0.09%
APO	B	0.09%
PCG	A	0.08%
LNG	D	0.08%
PEG	B	0.08%
IR	C	0.08%
MLM	D	0.08%
KMI	A	0.08%
MSCI	F	0.08%
GWW	D	0.08%
SYY	D	0.08%
EXC	C	0.08%
FAST	D	0.08%
YUM	B	0.08%
PWR	C	0.08%
RSG	D	0.08%
LEN	B	0.08%
KR	D	0.08%
PAYX	B	0.08%
AME	D	0.08%
DELL	B	0.08%
LULU	F	0.08%
TTD	B	0.08%
OTIS	C	0.08%
GIS	C	0.08%
SMCI	D	0.08%
SQ	D	0.08%
CMI	D	0.08%
HUM	D	0.08%
CTVA	C	0.08%
MRNA	C	0.08%
RCL	B	0.07%
FICO	A	0.07%
RMD	B	0.07%
ADM	D	0.07%
PPG	F	0.07%
VST	B	0.07%
BIIB	D	0.07%
DVN	D	0.07%
BKR	D	0.07%
HWM	A	0.07%
MPWR	C	0.07%
IT	D	0.07%
HAL	D	0.07%
ED	B	0.07%
VRT	C	0.07%
DAL	B	0.07%
CTSH	F	0.07%
XYL	A	0.07%
EA	F	0.07%
FANG	C	0.07%
ODFL	F	0.07%
VRSK	A	0.07%
ACGL	A	0.07%
FTNT	D	0.07%
KVUE	C	0.07%
VMC	D	0.07%
WTW	D	0.06%
GLW	A	0.06%
WEC	C	0.06%
WST	F	0.06%
CBRE	C	0.06%
FTV	D	0.06%
MTD	B	0.06%
TEAM	F	0.06%
MNST	F	0.06%
AVB	B	0.06%
KHC	D	0.06%
EL	F	0.06%
ANSS	D	0.06%
HUBS	D	0.06%
GPN	F	0.06%
EIX	A	0.06%
EFX	D	0.06%
HPQ	C	0.06%
HSY	C	0.06%
TSCO	A	0.06%
DD	A	0.06%
WAB	A	0.06%
VEEV	D	0.06%
HIG	A	0.06%
CDW	D	0.06%
VICI	C	0.06%
DDOG	D	0.06%
GEHC	D	0.06%
XEL	D	0.06%
EXR	C	0.06%
ON	D	0.06%
DG	D	0.06%
KDP	C	0.06%
DFS	C	0.06%
ROK	F	0.06%
ES	C	0.05%
BALL	B	0.05%
FE	B	0.05%
AXON	D	0.05%
HUBB	D	0.05%
HPE	C	0.05%
NTAP	B	0.05%
DECK	C	0.05%
STE	C	0.05%
BR	C	0.05%
APTV	D	0.05%
WY	F	0.05%
EQR	B	0.05%
STT	B	0.05%
NVR	D	0.05%
IRM	B	0.05%
WDC	C	0.05%
ETR	B	0.05%
RJF	B	0.05%
CAH	F	0.05%
DTE	A	0.05%
TTWO	D	0.05%
TROW	D	0.05%
MDB	D	0.05%
ARES	B	0.05%
PHM	B	0.05%
IFF	A	0.05%
TRGP	A	0.05%
DLTR	F	0.05%
MTB	B	0.05%
CHTR	F	0.05%
ZBH	D	0.05%
DOV	B	0.05%
GRMN	A	0.05%
LYB	D	0.05%
CHD	B	0.05%
AWK	C	0.05%
KEYS	C	0.05%
FITB	B	0.05%
TSN	B	0.04%
EXPD	D	0.04%
IEX	D	0.04%
RS	D	0.04%
NRG	B	0.04%
UAL	C	0.04%
LVS	F	0.04%
LH	D	0.04%
J	F	0.04%
CLX	F	0.04%
ILMN	F	0.04%
HOLX	D	0.04%
NTRS	C	0.04%
STX	C	0.04%
DRI	F	0.04%
CE	D	0.04%
ATO	B	0.04%
EME	B	0.04%
WBD	F	0.04%
RF	B	0.04%
AVY	B	0.04%
BAX	F	0.04%
DPZ	C	0.04%
TDY	D	0.04%
CINF	C	0.04%
SYF	C	0.04%
ARE	C	0.04%
CMS	A	0.04%
OMC	B	0.04%
ALNY	D	0.04%
CNP	B	0.04%
MSTR	D	0.04%
MKC	C	0.04%
TER	B	0.04%
VTR	B	0.04%
WSM	C	0.04%
CBOE	C	0.04%
ENTG	D	0.04%
ULTA	F	0.04%
AEE	C	0.04%
PFG	B	0.04%
FSLR	C	0.04%
BAH	B	0.04%
WAT	B	0.04%
LPLA	C	0.04%
FCNCA	B	0.04%
STLD	D	0.04%
TYL	B	0.04%
INVH	B	0.04%
LDOS	A	0.04%
ALGN	F	0.04%
HBAN	B	0.04%
CSL	B	0.04%
MOH	F	0.04%
BRO	A	0.04%
BLDR	D	0.04%
NDAQ	B	0.04%
NET	F	0.04%
VLTO	B	0.04%
PTC	C	0.04%
CTRA	B	0.04%
SBAC	F	0.04%
PPL	A	0.04%
GPC	D	0.04%
MKL	A	0.04%
LW	F	0.03%
EMN	C	0.03%
IPG	D	0.03%
FLEX	C	0.03%
IBKR	A	0.03%
AMH	B	0.03%
UTHR	A	0.03%
DT	D	0.03%
FIX	C	0.03%
JKHY	C	0.03%
OVV	D	0.03%
CELH	C	0.03%
PODD	C	0.03%
WBA	F	0.03%
CASY	B	0.03%
BURL	D	0.03%
TECH	C	0.03%
KIM	C	0.03%
USFD	B	0.03%
ACM	D	0.03%
WPC	C	0.03%
FND	C	0.03%
EVRG	C	0.03%
EG	C	0.03%
THC	B	0.03%
HEI	B	0.03%
XPO	D	0.03%
NI	B	0.03%
BLD	D	0.03%
HST	D	0.03%
LNT	B	0.03%
LECO	D	0.03%
EQH	A	0.03%
TW	B	0.03%
TOL	B	0.03%
WRK	A	0.03%
MANH	D	0.03%
SWK	D	0.03%
RGA	A	0.03%
VTRS	D	0.03%
NVT	C	0.03%
NBIX	B	0.03%
FNF	B	0.03%
DOC	B	0.03%
IP	B	0.03%
PNR	B	0.03%
SSNC	B	0.03%
GGG	D	0.03%
JBHT	F	0.03%
ROL	C	0.03%
TRMB	D	0.03%
KEY	B	0.03%
CF	F	0.03%
AES	B	0.03%
POOL	D	0.03%
LYV	D	0.03%
TPL	C	0.03%
L	B	0.03%
RPM	C	0.03%
BBY	D	0.03%
YUMC	D	0.03%
SUI	F	0.03%
CCL	F	0.03%
SNA	D	0.03%
CAG	C	0.03%
SWKS	F	0.03%
JBL	F	0.03%
ENPH	D	0.03%
AMCR	C	0.03%
NDSN	C	0.03%
ZS	F	0.03%
TRU	C	0.03%
BMRN	F	0.03%
BG	C	0.03%
APP	C	0.03%
LII	B	0.03%
OC	C	0.03%
DGX	A	0.03%
ALB	D	0.03%
MAS	D	0.03%
MRO	D	0.03%
MAA	C	0.03%
WSO	B	0.03%
K	C	0.03%
WRB	D	0.03%
PKG	C	0.03%
AVTR	D	0.03%
ZBRA	C	0.03%
LUV	F	0.03%
NTNX	B	0.03%
EQT	C	0.03%
PSTG	B	0.03%
ESS	B	0.03%
FDS	C	0.03%
CFG	A	0.03%
TXT	D	0.03%
PR	D	0.02%
UFPI	C	0.02%
MIDD	F	0.02%
DAR	D	0.02%
AGCO	F	0.02%
DUOL	F	0.02%
MTDR	D	0.02%
OGE	A	0.02%
RHI	F	0.02%
NYT	B	0.02%
VKTX	D	0.02%
LEA	F	0.02%
DVA	B	0.02%
CHRD	C	0.02%
AIT	B	0.02%
NOV	D	0.02%
FCN	B	0.02%
MTN	F	0.02%
SSD	F	0.02%
OHI	C	0.02%
PATH	D	0.02%
MKTX	D	0.02%
WSC	F	0.02%
FRT	C	0.02%
OLED	C	0.02%
BEN	F	0.02%
KNX	F	0.02%
PEN	F	0.02%
MORN	D	0.02%
CZR	F	0.02%
NNN	B	0.02%
PRI	D	0.02%
OSK	D	0.02%
VOYA	B	0.02%
IOT	B	0.02%
BRBR	D	0.02%
EGP	F	0.02%
WBS	D	0.02%
HAS	C	0.02%
WCC	C	0.02%
FIVE	F	0.02%
FOXA	C	0.02%
FN	B	0.02%
MUSA	B	0.02%
SWN	B	0.02%
INGR	B	0.02%
ARMK	B	0.02%
AXTA	C	0.02%
CGNX	C	0.02%
MKSI	C	0.02%
ORI	A	0.02%
CLF	F	0.02%
BWXT	D	0.02%
GNTX	D	0.02%
GL	F	0.02%
SF	B	0.02%
GNRC	C	0.02%
RGLD	A	0.02%
JEF	A	0.02%
CROX	C	0.02%
MTCH	F	0.02%
WEX	F	0.02%
LNW	D	0.02%
AYI	C	0.02%
FMC	C	0.02%
CHE	F	0.02%
KNSL	F	0.02%
ELAN	B	0.02%
HOOD	C	0.02%
AFRM	D	0.02%
GPK	C	0.02%
EHC	C	0.02%
RGEN	D	0.02%
X	F	0.02%
BWA	C	0.02%
ACI	D	0.02%
OWL	B	0.02%
ESTC	C	0.02%
GMED	B	0.02%
CPB	C	0.02%
DINO	D	0.02%
HEI	B	0.02%
FHN	B	0.02%
PNW	B	0.02%
RRC	B	0.02%
TPX	C	0.02%
DAY	D	0.02%
BXP	C	0.02%
WFRD	C	0.02%
PAYC	F	0.02%
KBR	C	0.02%
SNX	A	0.02%
GWRE	B	0.02%
DCI	C	0.02%
SKX	B	0.02%
EXP	D	0.02%
UHS	B	0.02%
JLL	B	0.02%
ELF	D	0.02%
TPR	D	0.02%
CG	D	0.02%
TTC	D	0.02%
ALV	B	0.02%
AIZ	D	0.02%
MEDP	D	0.02%
AFG	B	0.02%
AAL	C	0.02%
CHRW	C	0.02%
QRVO	F	0.02%
WYNN	D	0.02%
DOX	F	0.02%
CACI	B	0.02%
NWSA	C	0.02%
CUBE	C	0.02%
CHDN	C	0.02%
AR	A	0.02%
MOS	F	0.02%
LSCC	F	0.02%
HSIC	C	0.02%
TFX	D	0.02%
EXAS	F	0.02%
REXR	F	0.02%
ATR	C	0.02%
HII	D	0.02%
REG	C	0.02%
QGEN	B	0.02%
FFIV	D	0.02%
INCY	D	0.02%
CCK	C	0.02%
CTLT	D	0.02%
SCCO	A	0.02%
ONTO	C	0.02%
MGM	F	0.02%
TREX	D	0.02%
UNM	B	0.02%
SCI	D	0.02%
TOST	B	0.02%
EPAM	F	0.02%
HRL	C	0.02%
TAP	F	0.02%
BJ	B	0.02%
LAMR	B	0.02%
AOS	D	0.02%
ERIE	C	0.02%
NTRA	B	0.02%
CHK	B	0.02%
RPRX	F	0.02%
WTRG	C	0.02%
CW	B	0.02%
RRX	D	0.02%
WWD	A	0.02%
TWLO	D	0.02%
CLH	B	0.02%
ALLY	B	0.02%
PFGC	C	0.02%
EWBC	B	0.02%
SAIA	F	0.02%
JNPR	D	0.02%
APA	F	0.02%
ALLE	D	0.02%
BBWI	B	0.02%
TXRH	B	0.02%
DKS	D	0.02%
TTEK	A	0.02%
ELS	D	0.02%
KMX	F	0.02%
LKQ	F	0.02%
ITT	A	0.02%
GLPI	C	0.02%
CPT	B	0.02%
WMS	C	0.02%
CRL	D	0.02%
SRPT	C	0.02%
SJM	F	0.02%
WING	C	0.02%
RNR	C	0.02%
CVNA	C	0.02%
FTI	C	0.02%
BSY	A	0.02%
UDR	C	0.02%
SWAV	B	0.02%
FRSH	F	0.01%
ADTN	D	0.01%
TXG	F	0.01%
AGR	D	0.01%
NSA	C	0.01%
IPGP	D	0.01%
SAM	F	0.01%
BROS	B	0.01%
NWS	C	0.01%
HESM	B	0.01%
CNXC	D	0.01%
DNB	C	0.01%
PAG	C	0.01%
COLM	B	0.01%
DOCS	D	0.01%
SEDG	F	0.01%
BBIO	D	0.01%
PSN	D	0.01%
CERE	D	0.01%
ZI	F	0.01%
TNET	F	0.01%
NVST	F	0.01%
WEN	F	0.01%
VLY	D	0.01%
ENLC	B	0.01%
DDS	C	0.01%
SN	A	0.01%
TPG	D	0.01%
DXC	F	0.01%
AMKR	C	0.01%
SYNA	D	0.01%
STNG	A	0.01%
RYN	F	0.01%
CHH	F	0.01%
MAN	C	0.01%
FOUR	D	0.01%
SLGN	C	0.01%
BYD	F	0.01%
FIVN	F	0.01%
NSP	F	0.01%
FFIN	B	0.01%
LANC	D	0.01%
IAC	C	0.01%
GFS	D	0.01%
KRC	C	0.01%
SLAB	D	0.01%
FOX	C	0.01%
COTY	F	0.01%
HCP	C	0.01%
SIG	C	0.01%
WMG	F	0.01%
HUN	C	0.01%
CACC	F	0.01%
CPRI	F	0.01%
MSM	F	0.01%
PRGO	F	0.01%
GBCI	C	0.01%
SWX	A	0.01%
HOG	D	0.01%
APLS	F	0.01%
SRCL	F	0.01%
RH	D	0.01%
AN	C	0.01%
JHG	B	0.01%
RIG	D	0.01%
ASGN	C	0.01%
AAP	D	0.01%
APPF	C	0.01%
WU	D	0.01%
UBSI	C	0.01%
GPS	D	0.01%
GATX	A	0.01%
PII	F	0.01%
ABG	C	0.01%
VFC	F	0.01%
EXPO	C	0.01%
FLO	C	0.01%
ALTR	B	0.01%
M	D	0.01%
MGY	C	0.01%
GME	D	0.01%
THG	A	0.01%
SUM	D	0.01%
AAON	D	0.01%
AM	A	0.01%
DLB	C	0.01%
MDU	B	0.01%
IDA	C	0.01%
EXLS	C	0.01%
LNC	C	0.01%
COKE	C	0.01%
NFG	B	0.01%
IVZ	C	0.01%
EEFT	C	0.01%
ASH	A	0.01%
INSP	F	0.01%
VMI	C	0.01%
MMS	B	0.01%
AMG	D	0.01%
LNTH	C	0.01%
WLK	B	0.01%
WHR	F	0.01%
OPCH	F	0.01%
TENB	F	0.01%
SMAR	C	0.01%
OZK	C	0.01%
AL	C	0.01%
RYAN	B	0.01%
PBF	D	0.01%
POST	B	0.01%
UGI	C	0.01%
OGN	B	0.01%
THO	F	0.01%
ONB	B	0.01%
SEE	C	0.01%
AXS	A	0.01%
S	D	0.01%
G	D	0.01%
QLYS	F	0.01%
VVV	D	0.01%
HALO	B	0.01%
BIO	F	0.01%
MTSI	C	0.01%
FAF	D	0.01%
MASI	D	0.01%
IONS	F	0.01%
AIRC	A	0.01%
PCOR	D	0.01%
IBP	D	0.01%
ALK	C	0.01%
FYBR	B	0.01%
PLNT	C	0.01%
NXST	C	0.01%
LPX	B	0.01%
WTS	B	0.01%
SON	B	0.01%
WH	F	0.01%
NOVT	D	0.01%
SNV	B	0.01%
PB	C	0.01%
BILL	F	0.01%
BC	F	0.01%
ITCI	D	0.01%
SM	D	0.01%
ESNT	C	0.01%
ADC	C	0.01%
SIGI	F	0.01%
EXEL	F	0.01%
STWD	B	0.01%
RLI	A	0.01%
TKR	C	0.01%
XRAY	F	0.01%
LBRDK	D	0.01%
ATKR	F	0.01%
OMF	C	0.01%
RMBS	F	0.01%
SSB	C	0.01%
WTFC	B	0.01%
ESAB	C	0.01%
HXL	C	0.01%
RHP	D	0.01%
CNM	B	0.01%
GXO	D	0.01%
VNT	D	0.01%
PNFP	C	0.01%
MHK	C	0.01%
LFUS	C	0.01%
CFR	D	0.01%
BPOP	B	0.01%
ACHC	F	0.01%
FR	F	0.01%
ENSG	D	0.01%
DTM	A	0.01%
CIVI	C	0.01%
PARA	D	0.01%
STAG	C	0.01%
MAT	F	0.01%
HQY	D	0.01%
ZION	B	0.01%
AZEK	D	0.01%
ST	C	0.01%
FLS	B	0.01%
COLD	D	0.01%
GTLS	C	0.01%
MUR	D	0.01%
MTH	B	0.01%
BFAM	D	0.01%
APG	D	0.01%
LSTR	C	0.01%
CHX	D	0.01%
H	D	0.01%
CYTK	F	0.01%
FLR	D	0.01%
SOFI	F	0.01%
AA	B	0.01%
RL	D	0.01%
ALSN	D	0.01%
AGNC	A	0.01%
CMC	B	0.01%
PVH	D	0.01%
MTZ	C	0.01%
BRX	C	0.01%
OLN	C	0.01%
UHAL	C	0.01%
NCLH	F	0.01%
PCVX	C	0.01%
ARW	C	0.01%
CBSH	B	0.01%
HRB	B	0.01%
HLI	C	0.01%
JAZZ	F	0.01%
EVR	A	0.01%
SEIC	D	0.01%
RIVN	D	0.01%
BERY	D	0.01%
WAL	C	0.01%
CFLT	C	0.01%
BRKR	D	0.01%
SITE	F	0.01%
CMA	B	0.01%
MSA	B	0.01%
CIEN	C	0.01%
SAIC	C	0.01%
RBC	A	0.01%
CRBG	C	0.01%
LAD	F	0.01%
COHR	D	0.01%
GLOB	F	0.01%
BLCO	F	0.0%
UHAL	C	0.0%
UWMC	C	0.0%
TFSL	C	0.0%
CWEN	C	0.0%
LBRDA	D	0.0%
CNA	B	0.0%
LEN	B	0.0%
BIRK	C	0.0%
INFA	D	0.0%
PPC	C	0.0%
REYN	B	0.0%
ALGM	D	0.0%
IMVT	D	0.0%
RKT	C	0.0%
JOBY	F	0.0%
RCM	F	0.0%
SIRI	F	0.0%
CAR	D	0.0%
ZG	F	0.0%
IGT	F	0.0%
CLVT	F	0.0%
DV	F	0.0%
BOKF	B	0.0%
CWEN	C	0.0%
IPAR	F	0.0%
LEVI	C	0.0%
LCID	D	0.0%
NFE	F	0.0%
EDR	A	0.0%
CRVL	A	0.0%

GUSA Underweight 35 Positions Relative to PNQI

Symbol	Grade	Weight
SHOP	F	-2.62%
BABA	C	-2.34%
SE	B	-0.9%
TCOM	B	-0.59%
JD	C	-0.53%
BIDU	D	-0.52%
NTES	C	-0.4%
OTEX	F	-0.29%
WIX	C	-0.24%
VIPS	D	-0.23%
MMYT	B	-0.18%
GLBE	F	-0.17%
BOX	D	-0.13%
ALRM	D	-0.12%
ENV	B	-0.12%
ZD	F	-0.09%
YELP	F	-0.09%
CMPR	D	-0.08%
TRIP	F	-0.08%
ATHM	C	-0.07%
TDOC	F	-0.07%
CRTO	C	-0.07%
BILI	C	-0.06%
BMBL	D	-0.05%
SSTK	F	-0.05%
PRO	F	-0.05%
FSLY	F	-0.04%
CARS	C	-0.04%
RDFN	C	-0.03%
EB	F	-0.02%
CHGG	F	-0.02%
GDRX	C	-0.02%
SFIX	D	-0.01%
CCSI	D	-0.01%
FLWS	D	-0.01%