HKND vs. BBRE ETF Comparison

Comparison of Humankind US Stock ETF (HKND) to JPMorgan BetaBuilders MSCI U.S. REIT ETF (BBRE)

HKND

Humankind US Stock ETF

HKND Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Humankind US Equity Index (the ?Index?). The index is primarily comprised of domestic (U.S.) equity securities and may not be comprised of greater than 5% of foreign securities (including ADRs). The fund invests in the common stock of each company in the index in approximately the same proportion as represented in the index itself. Under normal conditions, it will invest at least 90% of its net assets, including borrowings for investment purposes, in securities contained in the index.

Grade (RS Rating)

Last Trade

$31.49

Average Daily Volume

385

Number of Holdings ^*

929

* may have additional holdings in another (foreign) market

BBRE

JPMorgan BetaBuilders MSCI U.S. REIT ETF

BBRE Description

The investment seeks to provide total return. Under normal circumstances, the fund will invest at least 80% of its assets in bonds. It will invest at least 40% of its assets in countries other than the United States. The fund may invest in developed or emerging markets. It generally invests at least 25% of its assets in securities that, at the time of purchase are rated investment grade or the unrated equivalent. "Assets" means net assets plus the amount of borrowings for investment purposes. The fund may also use currency related transactions involving currency derivatives as part of its primary investment strategy.

Grade (RS Rating)

Last Trade

$87.45

Average Daily Volume

14,484

Number of Holdings ^*

113

* may have additional holdings in another (foreign) market

Performance

Period	HKND	BBRE
30 Days	5.57%	7.92%
60 Days	2.78%	1.26%
90 Days	4.97%	1.66%
12 Months	16.76%	11.56%

72 Overlapping Holdings

Symbol	Grade	Weight in HKND	Weight in BBRE	Overlap
ADC	C	0.0%	0.54%	0.0%
AIRC	A	0.01%	0.58%	0.01%
AIV	C	0.0%	0.13%	0.0%
ALEX	C	0.0%	0.13%	0.0%
AMH	B	0.01%	1.14%	0.01%
APLE	F	0.01%	0.33%	0.01%
ARE	C	0.02%	1.88%	0.02%
AVB	B	0.03%	2.75%	0.03%
BNL	C	0.0%	0.27%	0.0%
BRX	C	0.01%	0.66%	0.01%
BXP	C	0.01%	0.94%	0.01%
COLD	D	0.05%	0.64%	0.05%
CPT	B	0.01%	1.08%	0.01%
CUBE	D	0.0%	0.95%	0.0%
CUZ	B	0.0%	0.37%	0.0%
DEI	C	0.0%	0.26%	0.0%
DLR	C	0.03%	4.11%	0.03%
DOC	A	0.02%	1.36%	0.02%
DRH	F	0.0%	0.18%	0.0%
EGP	D	0.0%	0.71%	0.0%
ELS	D	0.01%	1.11%	0.01%
EPR	C	0.0%	0.32%	0.0%
EQC	C	0.0%	0.22%	0.0%
EQIX	D	0.03%	7.17%	0.03%
EQR	B	0.03%	2.39%	0.03%
ESRT	C	0.0%	0.14%	0.0%
ESS	B	0.01%	1.69%	0.01%
EXR	C	0.01%	3.1%	0.01%
FR	D	0.0%	0.63%	0.0%
FRT	B	0.01%	0.75%	0.01%
HIW	B	0.0%	0.29%	0.0%
HST	D	0.03%	1.32%	0.03%
INVH	A	0.01%	2.12%	0.01%
IRM	A	0.01%	2.28%	0.01%
JBGS	F	0.0%	0.15%	0.0%
KIM	C	0.01%	1.29%	0.01%
KRC	D	0.0%	0.37%	0.0%
KRG	D	0.0%	0.46%	0.0%
LXP	D	0.0%	0.25%	0.0%
MAA	C	0.02%	1.57%	0.02%
MAC	C	0.0%	0.34%	0.0%
MPW	C	0.01%	0.34%	0.01%
NHI	B	0.0%	0.29%	0.0%
NNN	B	0.01%	0.77%	0.01%
O	C	0.02%	4.15%	0.02%
OHI	C	0.01%	0.72%	0.01%
PEB	D	0.0%	0.2%	0.0%
PECO	F	0.0%	0.39%	0.0%
PK	D	0.01%	0.36%	0.01%
PLD	F	0.04%	9.84%	0.04%
PSA	C	0.02%	4.07%	0.02%
REG	C	0.01%	1.0%	0.01%
REXR	F	0.0%	0.82%	0.0%
RHP	D	0.01%	0.55%	0.01%
RLJ	F	0.0%	0.17%	0.0%
SBRA	C	0.0%	0.34%	0.0%
SHO	D	0.01%	0.22%	0.01%
SITC	B	0.0%	0.27%	0.0%
SKT	C	0.0%	0.3%	0.0%
SLG	C	0.0%	0.35%	0.0%
SPG	C	0.04%	4.43%	0.04%
STAG	D	0.0%	0.64%	0.0%
SUI	F	0.01%	1.46%	0.01%
SVC	F	0.0%	0.1%	0.0%
TRNO	F	0.0%	0.42%	0.0%
UDR	C	0.01%	1.27%	0.01%
UE	C	0.0%	0.21%	0.0%
VNO	D	0.01%	0.4%	0.01%
VTR	B	0.03%	1.9%	0.03%
WELL	A	0.04%	4.82%	0.04%
WPC	C	0.01%	1.22%	0.01%
XHR	C	0.0%	0.17%	0.0%

HKND Overweight 857 Positions Relative to BBRE

Symbol	Grade	Weight
GOOGL	B	4.66%
PG	B	4.02%
MSFT	B	3.99%
AAPL	B	3.42%
ADM	D	2.7%
LLY	B	2.12%
JNJ	D	2.1%
DE	C	2.03%
PFE	D	2.01%
ECL	B	1.96%
MRK	B	1.88%
CTVA	C	1.87%
BG	D	1.75%
ABBV	D	1.62%
MOS	F	1.54%
AMZN	C	1.44%
VZ	C	1.33%
WMT	D	1.19%
UNH	C	1.14%
FMC	C	1.1%
HCA	C	0.97%
AMGN	B	0.9%
AWK	C	0.89%
BMY	F	0.88%
AGCO	D	0.81%
CF	F	0.81%
PEP	B	0.8%
XYL	A	0.79%
BDX	F	0.77%
SYK	D	0.75%
TMO	B	0.71%
DHR	A	0.7%
CMCSA	F	0.7%
GEHC	D	0.69%
REGN	B	0.68%
GILD	F	0.65%
MRNA	C	0.64%
VRTX	B	0.62%
DIS	D	0.59%
BSX	A	0.56%
T	B	0.56%
J	D	0.54%
JPM	A	0.54%
HPQ	C	0.54%
HD	D	0.53%
DGX	B	0.5%
ELV	B	0.5%
LH	D	0.5%
MET	B	0.48%
MCK	B	0.46%
CI	D	0.44%
DELL	B	0.44%
GIS	C	0.4%
TMUS	C	0.4%
DD	B	0.39%
MDLZ	C	0.37%
AVGO	A	0.36%
PGR	C	0.36%
WFC	A	0.36%
LOW	D	0.35%
CL	B	0.35%
BIIB	D	0.35%
INGR	C	0.33%
BAX	F	0.32%
ZBH	D	0.32%
CNC	B	0.31%
ALL	D	0.31%
ABT	F	0.31%
CAH	F	0.3%
TGT	D	0.3%
K	B	0.3%
BAC	B	0.3%
HUM	D	0.29%
MMC	B	0.27%
AIG	C	0.27%
CHD	B	0.27%
STT	B	0.26%
ISRG	B	0.26%
V	C	0.26%
FDP	F	0.25%
KO	B	0.25%
IBM	D	0.25%
EW	C	0.24%
META	D	0.24%
UHS	B	0.23%
TRV	D	0.23%
ORCL	C	0.23%
THC	A	0.21%
AXP	B	0.21%
GWW	D	0.21%
PRU	A	0.2%
HOLX	D	0.2%
PYPL	D	0.19%
BBY	D	0.19%
RMD	B	0.18%
CAG	C	0.18%
IQV	D	0.18%
MA	D	0.18%
TJX	B	0.18%
ABM	C	0.18%
MMM	A	0.18%
CBRE	C	0.17%
ACM	D	0.17%
HIG	B	0.16%
ALNY	F	0.16%
CVS	F	0.16%
CWT	C	0.16%
WBA	F	0.16%
HSIC	C	0.15%
USFD	B	0.15%
HPE	C	0.15%
CTSH	F	0.14%
KD	A	0.14%
CRM	D	0.14%
A	A	0.14%
SYY	D	0.14%
GXO	D	0.14%
LYV	D	0.14%
CDW	D	0.13%
AVTR	C	0.13%
C	A	0.13%
COF	B	0.12%
JLL	A	0.12%
ADP	C	0.12%
MAN	C	0.12%
BLK	C	0.12%
RGA	A	0.12%
SJM	F	0.12%
MAR	D	0.12%
PNC	A	0.12%
CHTR	F	0.12%
INCY	D	0.12%
GMED	B	0.11%
ANDE	F	0.11%
TFX	D	0.11%
TECH	C	0.11%
DXCM	D	0.11%
NFLX	C	0.11%
DVA	C	0.11%
AFL	A	0.11%
RPRX	F	0.11%
BMRN	F	0.11%
WTRG	C	0.11%
VLTO	A	0.1%
USB	C	0.1%
JBL	F	0.1%
BKNG	B	0.09%
AWR	C	0.09%
SEM	A	0.09%
GME	C	0.09%
EHC	B	0.09%
OMC	A	0.09%
MTD	A	0.09%
FLO	C	0.09%
UTHR	B	0.09%
HSY	C	0.09%
MKC	C	0.08%
LW	F	0.08%
MKL	B	0.08%
BIO	F	0.08%
DXC	F	0.08%
DG	D	0.08%
CTAS	B	0.08%
IFF	B	0.08%
SYF	C	0.08%
AVD	F	0.08%
TTEK	B	0.08%
IDXX	C	0.08%
KDP	B	0.08%
DFS	C	0.08%
MOH	F	0.08%
CLX	F	0.08%
SQ	D	0.08%
FNF	B	0.08%
ILMN	F	0.07%
CINF	D	0.07%
DLTR	F	0.07%
CRL	D	0.07%
FELE	D	0.07%
WDC	B	0.07%
PFG	B	0.07%
CPB	C	0.07%
FTRE	F	0.07%
RDNT	A	0.07%
EDR	A	0.07%
SBUX	F	0.07%
NSP	D	0.07%
TFC	A	0.07%
CNA	C	0.07%
SJW	D	0.07%
AJG	B	0.07%
NBIX	B	0.07%
MS	A	0.07%
EQH	B	0.06%
ICUI	D	0.06%
ORI	B	0.06%
HAE	B	0.06%
ADBE	F	0.06%
AFG	B	0.06%
FIS	A	0.06%
UAN	B	0.06%
WRB	D	0.06%
AMT	D	0.06%
IPG	D	0.06%
BK	A	0.06%
WAT	B	0.06%
SRPT	C	0.06%
EBAY	B	0.06%
M	D	0.06%
FCN	B	0.05%
FAST	D	0.05%
FOX	C	0.05%
MTB	B	0.05%
MRVI	C	0.05%
MMS	B	0.05%
CFG	B	0.05%
UNM	B	0.05%
RF	B	0.05%
GS	A	0.05%
WMG	D	0.05%
UNFI	D	0.05%
MASI	D	0.05%
ITGR	C	0.05%
POST	C	0.05%
EXEL	F	0.05%
WBD	F	0.05%
SPB	B	0.05%
TROW	C	0.05%
VOYA	B	0.05%
FAF	D	0.05%
ROST	D	0.05%
ARW	C	0.05%
RKT	C	0.05%
WSO	B	0.05%
HLT	D	0.05%
MMSI	B	0.05%
WST	F	0.05%
GPS	D	0.05%
LBRDA	F	0.05%
APLS	F	0.04%
DOX	F	0.04%
OPK	C	0.04%
IART	F	0.04%
SNPS	C	0.04%
NTAP	B	0.04%
NOW	C	0.04%
INTU	C	0.04%
NSIT	A	0.04%
PAYX	B	0.04%
AMED	B	0.04%
ALB	D	0.04%
OC	B	0.04%
AVNS	D	0.04%
CAT	C	0.04%
FITB	A	0.04%
ROL	B	0.04%
JXN	C	0.04%
THS	F	0.04%
BRO	A	0.04%
AIZ	D	0.04%
OPCH	F	0.04%
AHCO	D	0.04%
CHE	F	0.04%
DKS	D	0.04%
PODD	D	0.04%
LNN	D	0.04%
OGN	B	0.04%
TSCO	B	0.04%
BRKR	D	0.04%
SNX	A	0.04%
MCO	B	0.04%
WSM	B	0.04%
AMP	A	0.04%
TNDM	A	0.04%
RS	D	0.04%
CTLT	D	0.04%
TWI	F	0.03%
KLG	C	0.03%
BBWI	B	0.03%
GDDY	A	0.03%
OFIX	C	0.03%
COMP	C	0.03%
CBT	B	0.03%
JJSF	C	0.03%
SGRY	D	0.03%
PEN	F	0.03%
MD	F	0.03%
DNLI	D	0.03%
VRSK	B	0.03%
SSNC	B	0.03%
SCHW	A	0.03%
KELYA	D	0.03%
JWN	C	0.03%
GNW	C	0.03%
COST	A	0.03%
L	C	0.03%
BR	C	0.03%
ICE	B	0.03%
DDS	B	0.03%
MCY	B	0.03%
IONS	F	0.03%
NWS	C	0.03%
KMPR	C	0.03%
BURL	D	0.03%
MSEX	D	0.03%
AVO	C	0.03%
H	D	0.03%
W	C	0.03%
LPLA	C	0.03%
SOLV	F	0.03%
WU	D	0.03%
LNTH	C	0.03%
RHI	F	0.03%
COKE	C	0.03%
EMBC	D	0.03%
CNMD	F	0.03%
HALO	A	0.03%
MNST	F	0.03%
GPN	F	0.03%
AVT	B	0.03%
NOVT	C	0.03%
HBAN	A	0.03%
LNC	C	0.03%
KSS	D	0.03%
ITCI	D	0.03%
SPTN	D	0.03%
NPO	D	0.03%
THG	C	0.03%
MTN	F	0.03%
EXPE	F	0.03%
WTS	B	0.03%
RARE	F	0.02%
TRU	B	0.02%
IBKR	B	0.02%
NTRA	B	0.02%
CRVL	A	0.02%
SMPL	C	0.02%
SFM	B	0.02%
CLH	B	0.02%
BHF	F	0.02%
CPRX	C	0.02%
NDAQ	C	0.02%
STGW	C	0.02%
TROX	B	0.02%
JKHY	D	0.02%
GL	F	0.02%
AXSM	C	0.02%
WTFC	B	0.02%
KRO	B	0.02%
IRDM	D	0.02%
FCNCA	C	0.02%
CG	D	0.02%
WSC	F	0.02%
EXLS	C	0.02%
RJF	B	0.02%
EVR	A	0.02%
ADUS	B	0.02%
MYGN	C	0.02%
RL	D	0.02%
CNXC	D	0.02%
ARWR	F	0.02%
R	A	0.02%
EPAM	F	0.02%
CYH	C	0.02%
LAMR	A	0.02%
PRVA	F	0.02%
UNF	D	0.02%
URBN	C	0.02%
TDY	D	0.02%
VAC	D	0.02%
SHC	F	0.02%
ALGN	F	0.02%
CMA	B	0.02%
TPG	D	0.02%
SXT	B	0.02%
STC	B	0.02%
ICFI	D	0.02%
SATS	C	0.02%
KEY	B	0.02%
FLGT	D	0.02%
PDCO	F	0.02%
AEO	C	0.02%
TNET	F	0.02%
SCI	D	0.02%
EWBC	B	0.02%
IVZ	C	0.02%
FHN	B	0.02%
BRBR	C	0.02%
BERY	D	0.02%
HRB	B	0.02%
RVMD	B	0.02%
ST	C	0.02%
PLAY	D	0.02%
OMI	D	0.02%
NTLA	D	0.02%
TITN	F	0.02%
EEFT	C	0.02%
JANX	C	0.02%
FFIV	D	0.02%
CORT	C	0.02%
NEO	D	0.02%
AKAM	F	0.02%
WDAY	F	0.02%
MEDP	C	0.02%
PANW	C	0.02%
APO	B	0.02%
BEN	F	0.02%
CCI	D	0.02%
ALIT	F	0.02%
BPMC	C	0.02%
SIGI	F	0.02%
ULTA	F	0.02%
AGL	D	0.02%
EXPI	D	0.02%
SMG	D	0.02%
ASGN	C	0.02%
PTCT	C	0.02%
EA	F	0.02%
FTNT	F	0.02%
CERE	B	0.02%
TXG	F	0.02%
FYBR	B	0.02%
EXAS	F	0.02%
EFX	C	0.02%
ERIE	D	0.02%
TGTX	C	0.02%
LTH	C	0.02%
FL	F	0.02%
HAIN	D	0.02%
WCC	B	0.02%
CME	D	0.02%
ODP	F	0.02%
SNAP	C	0.02%
MDGL	D	0.02%
BGS	F	0.01%
NDSN	B	0.01%
INVA	C	0.01%
EBC	C	0.01%
FIZZ	D	0.01%
ETSY	F	0.01%
ENV	B	0.01%
FULT	B	0.01%
PJT	C	0.01%
CSGS	F	0.01%
UCBI	C	0.01%
AXNX	C	0.01%
IRWD	F	0.01%
WAFD	C	0.01%
SF	A	0.01%
ARDX	C	0.01%
PRFT	C	0.01%
TDOC	F	0.01%
COLB	C	0.01%
NTRS	B	0.01%
AYI	B	0.01%
SFNC	D	0.01%
MANH	D	0.01%
RGNX	F	0.01%
CCRN	F	0.01%
MIRM	F	0.01%
VRDN	F	0.01%
IRTC	F	0.01%
PAG	C	0.01%
RXRX	D	0.01%
APH	A	0.01%
AWI	D	0.01%
FOUR	D	0.01%
TR	F	0.01%
HUBB	C	0.01%
SAFT	D	0.01%
DCGO	F	0.01%
UMBF	B	0.01%
PRA	D	0.01%
AEIS	C	0.01%
ABCB	C	0.01%
MEG	B	0.01%
SCVL	B	0.01%
HOMB	B	0.01%
ATEC	F	0.01%
BBSI	B	0.01%
HAS	C	0.01%
ROKU	D	0.01%
NTCT	D	0.01%
DNB	C	0.01%
RDUS	D	0.01%
GIC	F	0.01%
ZNTL	F	0.01%
HIBB	A	0.01%
FIVE	F	0.01%
TWST	B	0.01%
HROW	C	0.01%
ONB	B	0.01%
KROS	D	0.01%
PLXS	C	0.01%
THRY	D	0.01%
ARMK	B	0.01%
BCRX	C	0.01%
PB	C	0.01%
TCBI	C	0.01%
MATW	D	0.01%
APAM	B	0.01%
WW	F	0.01%
MNKD	D	0.01%
SLCA	C	0.01%
SSB	C	0.01%
SSTK	F	0.01%
IDT	A	0.01%
BBIO	D	0.01%
HTH	C	0.01%
BSY	B	0.01%
MORF	F	0.01%
VCTR	B	0.01%
CMG	C	0.01%
SBAC	F	0.01%
OPEN	F	0.01%
LXU	C	0.01%
UBSI	C	0.01%
SBH	D	0.01%
DFIN	C	0.01%
MC	B	0.01%
FHB	B	0.01%
NARI	D	0.01%
PTGX	C	0.01%
ADMA	B	0.01%
UTZ	C	0.01%
CATY	C	0.01%
TVTX	F	0.01%
OLLI	D	0.01%
EME	A	0.01%
PSTG	A	0.01%
UFCS	C	0.01%
CFR	D	0.01%
OMCL	D	0.01%
AMCX	C	0.01%
INSP	F	0.01%
HMN	D	0.01%
WTM	D	0.01%
GLW	A	0.01%
KFRC	D	0.01%
ZM	D	0.01%
FHI	D	0.01%
NVEE	F	0.01%
LFST	C	0.01%
RLAY	F	0.01%
ANET	A	0.01%
ADPT	D	0.01%
BOWL	D	0.01%
TDS	B	0.01%
WAL	C	0.01%
ZION	B	0.01%
PTC	C	0.01%
FNB	B	0.01%
TGNA	C	0.01%
CNO	B	0.01%
ANSS	D	0.01%
MMI	C	0.01%
WRBY	B	0.01%
PIPR	B	0.01%
CBZ	C	0.01%
FG	C	0.01%
ZBRA	A	0.01%
NATL	A	0.01%
DVAX	F	0.01%
UWMC	B	0.01%
USM	C	0.01%
CAL	C	0.01%
BGC	B	0.01%
WOOF	D	0.01%
CHH	F	0.01%
INSM	F	0.01%
EXPO	C	0.01%
OUT	D	0.01%
RGEN	D	0.01%
USPH	C	0.01%
ATRC	F	0.01%
PLRX	D	0.01%
SNDX	D	0.01%
HWC	B	0.01%
VRNT	C	0.01%
VLY	D	0.01%
NGVT	C	0.01%
CNDT	B	0.01%
RVNC	F	0.01%
JEF	A	0.01%
SAGE	F	0.01%
GES	C	0.01%
PNFP	C	0.01%
LMAT	B	0.01%
PCTY	D	0.01%
RLI	C	0.01%
ORLY	D	0.01%
CVGW	C	0.01%
ASB	B	0.01%
RCUS	D	0.01%
ZTS	D	0.01%
WH	F	0.01%
OMF	C	0.01%
ACIW	B	0.01%
CBSH	B	0.01%
NYT	B	0.01%
CSTL	C	0.01%
CLDX	D	0.01%
HLI	B	0.01%
CNK	C	0.01%
ADSK	F	0.01%
ARES	A	0.01%
RH	C	0.01%
PRG	C	0.01%
PINS	B	0.01%
PINC	F	0.01%
WD	C	0.01%
VCEL	C	0.01%
KFY	B	0.01%
WBS	D	0.01%
FDS	D	0.01%
MODV	D	0.01%
OSUR	F	0.01%
ADTN	D	0.01%
HGV	D	0.01%
NXST	C	0.01%
CRI	F	0.01%
OZK	C	0.01%
NVRO	F	0.01%
AZO	D	0.01%
CHEF	A	0.01%
SP	B	0.01%
AMG	D	0.01%
NVST	F	0.01%
HURN	F	0.01%
TTWO	D	0.01%
HRMY	F	0.01%
BEAM	F	0.01%
SITE	D	0.01%
SWAV	A	0.01%
XNCR	D	0.01%
PLNT	C	0.01%
JBSS	D	0.01%
ATR	C	0.01%
DAY	F	0.01%
UHAL	C	0.01%
SCSC	A	0.01%
AVNT	B	0.01%
KYMR	D	0.01%
LGND	C	0.01%
VEEV	D	0.01%
ELAN	B	0.01%
AGIO	B	0.01%
BOKF	B	0.01%
TNL	C	0.01%
RCM	F	0.01%
DCPH	A	0.01%
ACT	B	0.01%
PLUS	B	0.01%
MTX	B	0.01%
RDN	C	0.01%
FICO	B	0.01%
AMPH	D	0.01%
APP	C	0.01%
TRMB	D	0.01%
CNXN	C	0.01%
YORW	C	0.01%
RYAN	B	0.01%
COOP	B	0.01%
KOP	F	0.01%
AMC	D	0.01%
TYL	B	0.01%
CRAI	B	0.01%
MSCI	F	0.01%
VRSN	F	0.01%
BCO	B	0.01%
LUMN	F	0.01%
PFSI	B	0.01%
PCRX	D	0.01%
EVH	F	0.01%
FRPT	A	0.01%
ACAD	F	0.01%
MTG	C	0.01%
CDNS	D	0.01%
CLNE	D	0.01%
XRAY	F	0.01%
NMRK	C	0.01%
SIX	C	0.01%
SNV	B	0.01%
TDC	F	0.01%
FOLD	F	0.01%
SANM	C	0.01%
SEIC	D	0.01%
LGF.A	C	0.01%
DLB	C	0.01%
AIT	B	0.01%
BLDR	D	0.01%
SUPN	F	0.01%
RNA	B	0.01%
CYTK	D	0.01%
LANC	D	0.01%
SCL	C	0.01%
FUN	B	0.01%
CDRE	F	0.01%
AMN	D	0.01%
BCPC	B	0.01%
NVAX	C	0.01%
XRX	F	0.01%
ANF	B	0.01%
POOL	D	0.01%
GKOS	B	0.01%
MSGS	C	0.01%
VRT	A	0.01%
PACB	F	0.0%
RAPT	F	0.0%
VIRT	B	0.0%
TMCI	F	0.0%
ACCD	F	0.0%
MED	F	0.0%
VSTS	F	0.0%
ZIP	F	0.0%
TBBK	F	0.0%
NRC	F	0.0%
HCSG	D	0.0%
DDOG	D	0.0%
BLFS	C	0.0%
UNIT	F	0.0%
XPOF	F	0.0%
LESL	F	0.0%
FBNC	F	0.0%
CDMO	C	0.0%
SHEN	D	0.0%
SBCF	C	0.0%
SASR	C	0.0%
EFSC	C	0.0%
EDIT	F	0.0%
SFBS	C	0.0%
OWL	C	0.0%
TCBK	C	0.0%
BLD	C	0.0%
LOB	D	0.0%
ALLO	F	0.0%
GSAT	F	0.0%
STBA	C	0.0%
FCF	C	0.0%
SYBT	C	0.0%
EGBN	F	0.0%
FIBK	C	0.0%
NBHC	C	0.0%
SRCE	C	0.0%
DOCU	C	0.0%
SIBN	F	0.0%
CVLT	A	0.0%
BRP	C	0.0%
GDOT	D	0.0%
MBIN	C	0.0%
SRCL	F	0.0%
TMP	D	0.0%
MKTX	D	0.0%
BLKB	C	0.0%
EWCZ	F	0.0%
BHLB	C	0.0%
ZI	F	0.0%
AMSF	F	0.0%
HUBS	D	0.0%
PEGA	C	0.0%
CNM	A	0.0%
PRK	A	0.0%
RAMP	F	0.0%
ENSG	D	0.0%
TTEC	F	0.0%
CUBI	D	0.0%
PSMT	A	0.0%
SPSC	C	0.0%
INFA	D	0.0%
PRGS	F	0.0%
IMXI	D	0.0%
FBK	B	0.0%
NBTB	C	0.0%
CVBF	C	0.0%
CABO	F	0.0%
AUB	C	0.0%
QLYS	F	0.0%
PYCR	F	0.0%
FDMT	D	0.0%
TH	D	0.0%
KNSL	F	0.0%
CALX	F	0.0%
MSM	D	0.0%
TRUP	C	0.0%
STWD	B	0.0%
NYCB	D	0.0%
ATUS	F	0.0%
ALTR	B	0.0%
TW	B	0.0%
ECVT	F	0.0%
FFIN	B	0.0%
FUL	B	0.0%
TFSL	C	0.0%
HQY	D	0.0%
FRME	C	0.0%
OXM	D	0.0%
CNS	C	0.0%
BANF	C	0.0%
RNST	C	0.0%
TRMK	B	0.0%
COGT	D	0.0%
ARCT	F	0.0%
ALHC	C	0.0%
BYND	D	0.0%
INBX	D	0.0%
BANR	C	0.0%
HOPE	C	0.0%
HGTY	D	0.0%
CRWD	C	0.0%
EYE	F	0.0%
INDB	D	0.0%
BOH	D	0.0%
TPL	C	0.0%
COLL	D	0.0%
WSBC	C	0.0%
VCYT	D	0.0%
MAT	F	0.0%
EIG	D	0.0%
PPBI	C	0.0%
ANAB	C	0.0%
OSCR	B	0.0%
STEP	A	0.0%
TOWN	C	0.0%
NWLI	A	0.0%
AZTA	F	0.0%
CADE	B	0.0%
FND	C	0.0%
NMIH	B	0.0%
FNA	F	0.0%
TRIP	F	0.0%
TEAM	F	0.0%
FFBC	B	0.0%
ATRI	C	0.0%
SCHL	F	0.0%
APD	D	0.0%
HIMS	D	0.0%
SILK	C	0.0%
SQSP	A	0.0%
SMMT	C	0.0%
RVLV	B	0.0%
KIDS	C	0.0%
SKWD	D	0.0%
ANIP	D	0.0%
GBCI	C	0.0%
IBOC	B	0.0%
CBU	C	0.0%
DBX	D	0.0%
CTKB	F	0.0%
TWKS	D	0.0%
HTLF	A	0.0%
BSIG	C	0.0%
PGNY	F	0.0%
MGRC	D	0.0%
BKD	C	0.0%
SNEX	C	0.0%
IT	D	0.0%
STAA	C	0.0%

HKND Underweight 41 Positions Relative to BBRE

Symbol	Grade	Weight
VICI	C	-2.85%
GLPI	C	-1.15%
EPRT	B	-0.39%
IRT	B	-0.38%
NSA	C	-0.32%
IIPR	B	-0.3%
CTRE	C	-0.25%
FCPT	B	-0.21%
AKR	B	-0.17%
IVT	C	-0.17%
ROIC	D	-0.16%
GNL	D	-0.15%
LTC	B	-0.14%
GTY	C	-0.12%
AAT	B	-0.12%
DEA	C	-0.11%
CSR	B	-0.11%
NTST	C	-0.1%
NXRT	C	-0.09%
UMH	B	-0.09%
BDN	C	-0.09%
PGRE	C	-0.09%
PDM	B	-0.09%
PLYM	F	-0.09%
HPP	F	-0.08%
AHH	C	-0.08%
INN	F	-0.07%
ALX	C	-0.06%
BFS	C	-0.06%
GMRE	D	-0.06%
CHCT	F	-0.06%
FPI	C	-0.06%
GOOD	A	-0.06%
WSR	B	-0.06%
OLP	B	-0.05%
CLDT	F	-0.05%
LAND	D	-0.05%
UHT	D	-0.05%
PKST	D	-0.03%
DHC	F	-0.03%
CBL	D	-0.03%