ILCB vs. INRO ETF Comparison

Comparison of iShares Morningstar U.S. Equity ETF (ILCB) to BlackRock U.S. Industry Rotation ETF (INRO)

ILCB

iShares Morningstar U.S. Equity ETF

ILCB Description

The investment seeks to track the investment results of the Morningstar US Large-Mid Cap IndexSM composed of large- and mid-capitalization U.S. equities. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of stocks issued by large-mid capitalization companies that have exhibited similar growth and value characteristics, as determined by Morningstar, Inc. (Morningstar or the index provider) proprietary index methodology.

Grade (RS Rating)

Last Trade

$82.36

Average Daily Volume

39,960

Number of Holdings ^*

614

* may have additional holdings in another (foreign) market

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.27

Average Daily Volume

3,544

Number of Holdings ^*

423

* may have additional holdings in another (foreign) market

Performance

Period	ILCB	INRO
30 Days	2.25%	2.86%
60 Days	4.62%	5.93%
90 Days	6.00%	6.63%
12 Months	31.86%

411 Overlapping Holdings

	Symbol	Grade	Weight in ILCB	Weight in INRO	Overlap
	A	D	0.07%	0.05%	0.05%
	AAPL	C	6.21%	5.57%	5.57%
	ABBV	F	0.56%	0.4%	0.4%
	ACGL	C	0.07%	0.06%	0.06%
	ACI	C	0.01%	0.01%	0.01%
	ACM	B	0.03%	0.11%	0.03%
	ACN	B	0.43%	0.07%	0.07%
	ADBE	C	0.43%	0.32%	0.32%
	ADI	D	0.2%	0.23%	0.2%
	ADP	A	0.23%	0.29%	0.23%
	ADSK	A	0.12%	0.1%	0.1%
	AEP	C	0.1%	0.31%	0.1%
	AES	F	0.02%	0.03%	0.02%
	AFG	A	0.02%	0.02%	0.02%
	AFL	B	0.11%	0.09%	0.09%
	AIG	B	0.09%	0.08%	0.08%
	AJG	A	0.12%	0.09%	0.09%
	ALL	A	0.1%	0.08%	0.08%
	ALLE	C	0.02%	0.09%	0.02%
	ALLY	C	0.02%	0.02%	0.02%
	ALNY	D	0.06%	0.05%	0.05%
	AMAT	F	0.27%	0.32%	0.27%
	AMCR	C	0.03%	0.07%	0.03%
	AMD	F	0.42%	0.49%	0.42%
	AME	A	0.09%	0.14%	0.09%
	AMGN	F	0.29%	0.22%	0.22%
	AMP	A	0.11%	0.17%	0.11%
	AMT	C	0.18%	0.11%	0.11%
	AMZN	C	3.7%	1.46%	1.46%
	ANSS	B	0.06%	0.05%	0.05%
	AON	A	0.16%	0.11%	0.11%
	AOS	F	0.02%	0.06%	0.02%
	APA	D	0.02%	0.01%	0.01%
	APD	A	0.14%	0.01%	0.01%
	APH	A	0.16%	0.19%	0.16%
	APO	B	0.13%	0.01%	0.01%
	APP	B	0.12%	0.08%	0.08%
	ARE	F	0.03%	0.04%	0.03%
	ARES	A	0.06%	0.11%	0.06%
	ATO	A	0.04%	0.05%	0.04%
	AVB	B	0.06%	0.01%	0.01%
	AVGO	D	1.45%	1.64%	1.45%
	AVTR	F	0.03%	0.02%	0.02%
	AVY	F	0.03%	0.07%	0.03%
	AXON	A	0.08%	0.02%	0.02%
	AXP	A	0.31%	1.14%	0.31%
	AZO	C	0.1%	0.15%	0.1%
	BA	F	0.2%	0.04%	0.04%
	BAC	A	0.61%	0.79%	0.61%
	BAH	F	0.04%	0.06%	0.04%
	BALL	F	0.04%	0.08%	0.04%
	BBY	D	0.03%	0.05%	0.03%
	BEN	C	0.01%	0.03%	0.01%
	BIIB	F	0.04%	0.03%	0.03%
	BK	A	0.11%	0.11%	0.11%
	BKR	A	0.08%	0.07%	0.07%
	BLDR	D	0.04%	0.15%	0.04%
	BMRN	F	0.02%	0.02%	0.02%
	BMY	B	0.22%	0.12%	0.12%
	BR	A	0.05%	0.07%	0.05%
	BRK.A	B	1.63%	0.06%	0.06%
	BRO	B	0.05%	0.04%	0.04%
	BSY	F	0.01%	0.02%	0.01%
	BURL	B	0.03%	0.05%	0.03%
	BX	A	0.25%	0.42%	0.25%
	BXP	C	0.02%	1.38%	0.02%
	C	A	0.25%	0.34%	0.25%
	CARR	C	0.12%	0.42%	0.12%
	CAT	B	0.36%	0.36%	0.36%
	CB	C	0.21%	0.16%	0.16%
	CBRE	B	0.08%	0.88%	0.08%
	CCI	C	0.09%	0.05%	0.05%
	CCK	D	0.02%	0.05%	0.02%
	CDNS	B	0.15%	0.12%	0.12%
	CDW	F	0.05%	0.06%	0.05%
	CEG	C	0.14%	0.45%	0.14%
	CFG	B	0.04%	0.05%	0.04%
	CG	B	0.02%	0.04%	0.02%
	CINF	A	0.05%	0.04%	0.04%
	CME	B	0.16%	0.26%	0.16%
	CMI	A	0.1%	0.09%	0.09%
	CNH	C	0.02%	0.02%	0.02%
	COF	C	0.14%	0.49%	0.14%
	COIN	C	0.12%	0.2%	0.12%
	COP	C	0.25%	0.23%	0.23%
	COST	A	0.78%	0.46%	0.46%
	CPRT	B	0.1%	0.21%	0.1%
	CPT	B	0.02%	0.0%	0.0%
	CRL	D	0.02%	0.02%	0.02%
	CRM	B	0.58%	0.47%	0.47%
	CRWD	B	0.15%	0.11%	0.11%
	CSGP	D	0.06%	0.65%	0.06%
	CSL	C	0.04%	0.15%	0.04%
	CSX	C	0.13%	0.26%	0.13%
	CTAS	B	0.14%	0.34%	0.14%
	CTRA	B	0.04%	0.03%	0.03%
	CTSH	B	0.07%	0.02%	0.02%
	CVX	A	0.53%	0.48%	0.48%
	DAL	B	0.08%	0.03%	0.03%
	DAY	B	0.02%	0.03%	0.02%
	DDOG	A	0.07%	0.05%	0.05%
	DE	B	0.19%	0.2%	0.19%
	DELL	B	0.07%	0.07%	0.07%
	DFS	B	0.09%	0.31%	0.09%
	DG	F	0.03%	0.01%	0.01%
	DHI	F	0.09%	0.33%	0.09%
	DHR	F	0.29%	0.2%	0.2%
	DINO	D	0.01%	0.01%	0.01%
	DKS	D	0.02%	0.03%	0.02%
	DLR	B	0.11%	0.07%	0.07%
	DLTR	F	0.03%	0.01%	0.01%
	DOC	C	0.03%	0.03%	0.03%
	DOCU	B	0.03%	0.02%	0.02%
	DOV	A	0.05%	0.06%	0.05%
	DT	D	0.03%	0.03%	0.03%
	DUK	C	0.17%	0.53%	0.17%
	DVN	F	0.05%	0.04%	0.04%
	EBAY	D	0.06%	0.02%	0.02%
	EFX	F	0.06%	0.08%	0.06%
	EG	C	0.03%	0.03%	0.03%
	EIX	B	0.06%	0.2%	0.06%
	EME	A	0.05%	0.19%	0.05%
	EMR	B	0.14%	0.24%	0.14%
	ENPH	F	0.02%	0.02%	0.02%
	ENTG	D	0.03%	0.03%	0.03%
	EOG	A	0.15%	0.14%	0.14%
	EPAM	B	0.03%	0.01%	0.01%
	EQIX	A	0.16%	0.1%	0.1%
	EQR	C	0.05%	0.01%	0.01%
	EQT	B	0.05%	0.04%	0.04%
	ERIE	D	0.02%	0.02%	0.02%
	ES	C	0.04%	0.13%	0.04%
	ESS	B	0.04%	0.01%	0.01%
	ETN	A	0.28%	0.48%	0.28%
	ETR	B	0.06%	0.2%	0.06%
	EVRG	A	0.03%	0.1%	0.03%
	EXAS	D	0.02%	0.01%	0.01%
	EXC	C	0.08%	0.24%	0.08%
	EXPD	C	0.03%	0.0%	0.0%
	EXR	C	0.07%	0.04%	0.04%
	F	C	0.08%	0.06%	0.06%
	FANG	C	0.06%	0.06%	0.06%
	FAST	B	0.09%	0.41%	0.09%
	FCNCA	A	0.05%	0.05%	0.05%
	FCX	F	0.12%	0.11%	0.11%
	FDS	B	0.04%	0.07%	0.04%
	FDX	B	0.13%	0.02%	0.02%
	FE	C	0.04%	0.15%	0.04%
	FI	A	0.23%	0.01%	0.01%
	FICO	B	0.11%	0.08%	0.08%
	FIS	C	0.09%	0.01%	0.01%
	FITB	B	0.06%	0.08%	0.06%
	FNF	B	0.03%	0.0%	0.0%
	FSLR	F	0.04%	0.04%	0.04%
	FTNT	C	0.12%	0.09%	0.09%
	FTV	C	0.05%	0.05%	0.05%
	GD	D	0.14%	0.03%	0.03%
	GDDY	A	0.05%	0.01%	0.01%
	GE	D	0.37%	0.08%	0.08%
	GEN	B	0.03%	0.03%	0.03%
	GEV	B	0.17%	0.31%	0.17%
	GGG	B	0.03%	0.03%	0.03%
	GILD	C	0.21%	0.16%	0.16%
	GLPI	C	0.02%	0.02%	0.02%
	GLW	B	0.07%	0.09%	0.07%
	GM	C	0.12%	0.09%	0.09%
	GOOG	C	1.74%	2.71%	1.74%
	GOOGL	C	1.95%	3.12%	1.95%
	GRMN	B	0.06%	0.22%	0.06%
	GS	A	0.37%	0.62%	0.37%
	GWW	B	0.1%	0.46%	0.1%
	HAL	C	0.05%	0.04%	0.04%
	HBAN	A	0.05%	0.07%	0.05%
	HD	B	0.78%	1.16%	0.78%
	HEI	A	0.02%	0.0%	0.0%
	HEI	A	0.03%	0.01%	0.01%
	HEI	A	0.02%	0.01%	0.01%
	HEI	A	0.03%	0.0%	0.0%
	HES	B	0.08%	0.07%	0.07%
	HIG	B	0.07%	0.05%	0.05%
	HII	F	0.01%	0.0%	0.0%
	HON	C	0.29%	1.56%	0.29%
	HOOD	B	0.03%	0.05%	0.03%
	HPE	B	0.05%	0.05%	0.05%
	HPQ	B	0.07%	0.06%	0.06%
	HUBB	B	0.04%	0.08%	0.04%
	HUBS	A	0.07%	0.05%	0.05%
	HWM	A	0.09%	0.02%	0.02%
	IBM	C	0.36%	0.06%	0.06%
	ICE	C	0.17%	0.29%	0.17%
	IEX	C	0.03%	0.03%	0.03%
	ILMN	C	0.04%	0.03%	0.03%
	INCY	C	0.02%	0.02%	0.02%
	INTC	C	0.2%	0.22%	0.2%
	INTU	B	0.37%	0.28%	0.28%
	INVH	D	0.04%	0.01%	0.01%
	IP	A	0.04%	0.09%	0.04%
	IQV	F	0.07%	0.05%	0.05%
	IR	B	0.08%	0.08%	0.08%
	IRM	C	0.06%	0.04%	0.04%
	IT	C	0.08%	0.02%	0.02%
	ITW	B	0.15%	0.15%	0.15%
	J	D	0.03%	0.04%	0.03%
	JBHT	C	0.03%	0.06%	0.03%
	JBL	C	0.03%	0.03%	0.03%
	JCI	B	0.11%	0.4%	0.11%
	JNJ	C	0.71%	0.36%	0.36%
	JPM	A	1.34%	1.68%	1.34%
	KEY	B	0.03%	0.05%	0.03%
	KEYS	A	0.05%	0.06%	0.05%
	KKR	A	0.19%	0.31%	0.19%
	KLAC	F	0.16%	0.18%	0.16%
	KMI	A	0.1%	0.1%	0.1%
	KMX	B	0.02%	0.04%	0.02%
	KR	B	0.08%	0.05%	0.05%
	L	A	0.03%	0.03%	0.03%
	LDOS	C	0.04%	0.06%	0.04%
	LEN	D	0.08%	0.28%	0.08%
	LEN	D	0.0%	0.28%	0.0%
	LHX	C	0.09%	0.02%	0.02%
	LII	A	0.04%	0.14%	0.04%
	LIN	C	0.41%	0.02%	0.02%
	LLY	F	1.22%	0.64%	0.64%
	LMT	D	0.22%	0.05%	0.05%
	LNG	A	0.09%	0.09%	0.09%
	LNT	A	0.03%	0.1%	0.03%
	LOW	C	0.3%	0.45%	0.3%
	LPLA	A	0.05%	0.07%	0.05%
	LRCX	F	0.18%	0.21%	0.18%
	LUV	C	0.04%	0.01%	0.01%
	MA	B	0.82%	0.04%	0.04%
	MAA	B	0.04%	0.01%	0.01%
	MANH	D	0.03%	0.03%	0.03%
	MAS	D	0.03%	0.12%	0.03%
	MCHP	F	0.06%	0.08%	0.06%
	MCO	B	0.14%	0.26%	0.14%
	MDB	B	0.04%	0.01%	0.01%
	MELI	C	0.18%	0.07%	0.07%
	MET	A	0.1%	0.08%	0.08%
	META	D	2.34%	3.77%	2.34%
	MKL	A	0.04%	0.04%	0.04%
	MLM	C	0.07%	0.59%	0.07%
	MMC	B	0.21%	0.16%	0.16%
	MMM	D	0.14%	0.78%	0.14%
	MO	A	0.18%	0.39%	0.18%
	MPC	D	0.1%	0.1%	0.1%
	MPWR	F	0.05%	0.06%	0.05%
	MRK	D	0.47%	0.24%	0.24%
	MRNA	F	0.02%	0.02%	0.02%
	MRO	B	0.03%	0.03%	0.03%
	MRVL	B	0.15%	0.17%	0.15%
	MS	A	0.32%	0.52%	0.32%
	MSCI	C	0.09%	0.15%	0.09%
	MSFT	D	5.94%	4.18%	4.18%
	MSTR	B	0.12%	0.08%	0.08%
	MTB	A	0.07%	0.09%	0.07%
	MTD	F	0.05%	0.04%	0.04%
	MU	D	0.21%	0.25%	0.21%
	NBIX	C	0.02%	0.02%	0.02%
	NDAQ	A	0.06%	0.12%	0.06%
	NDSN	B	0.03%	0.03%	0.03%
	NEE	C	0.3%	0.94%	0.3%
	NEM	D	0.09%	0.11%	0.09%
	NET	B	0.05%	0.01%	0.01%
	NOC	D	0.14%	0.03%	0.03%
	NOW	A	0.4%	0.3%	0.3%
	NRG	B	0.04%	0.12%	0.04%
	NSC	B	0.11%	0.23%	0.11%
	NTAP	C	0.05%	0.04%	0.04%
	NTRS	A	0.04%	0.08%	0.04%
	NUE	C	0.07%	0.01%	0.01%
	NVDA	B	6.48%	7.42%	6.48%
	NVR	D	0.05%	0.22%	0.05%
	NXPI	D	0.11%	0.12%	0.11%
	OC	A	0.03%	0.11%	0.03%
	ODFL	C	0.08%	0.17%	0.08%
	OKE	A	0.12%	0.11%	0.11%
	ON	D	0.05%	0.06%	0.05%
	ORCL	A	0.57%	0.44%	0.44%
	ORLY	B	0.14%	0.21%	0.14%
	OTIS	C	0.08%	0.08%	0.08%
	OVV	B	0.02%	0.02%	0.02%
	OXY	D	0.06%	0.06%	0.06%
	PANW	B	0.24%	0.18%	0.18%
	PAYC	B	0.02%	0.03%	0.02%
	PAYX	B	0.09%	0.11%	0.09%
	PCAR	B	0.11%	0.11%	0.11%
	PCG	A	0.09%	0.26%	0.09%
	PFE	F	0.27%	0.14%	0.14%
	PFG	D	0.04%	0.04%	0.04%
	PGR	A	0.29%	0.23%	0.23%
	PH	A	0.17%	0.17%	0.17%
	PHM	D	0.05%	0.19%	0.05%
	PINS	F	0.03%	0.05%	0.03%
	PKG	A	0.04%	0.1%	0.04%
	PLTR	B	0.25%	0.17%	0.17%
	PM	B	0.38%	0.83%	0.38%
	PNC	B	0.16%	0.2%	0.16%
	PNR	A	0.03%	0.04%	0.03%
	PPL	A	0.05%	0.05%	0.05%
	PRU	A	0.09%	0.07%	0.07%
	PSA	C	0.1%	0.07%	0.07%
	PSTG	D	0.03%	0.03%	0.03%
	PSX	C	0.11%	0.1%	0.1%
	PTC	B	0.04%	0.04%	0.04%
	PWR	A	0.09%	0.37%	0.09%
	PYPL	B	0.17%	0.01%	0.01%
	QCOM	F	0.34%	0.39%	0.34%
	QRVO	F	0.01%	0.01%	0.01%
	REGN	F	0.15%	0.12%	0.12%
	RF	A	0.05%	0.07%	0.05%
	RJF	A	0.06%	0.11%	0.06%
	ROK	C	0.06%	0.1%	0.06%
	ROL	B	0.03%	0.06%	0.03%
	ROP	B	0.11%	0.09%	0.09%
	ROST	D	0.09%	0.14%	0.09%
	RPRX	D	0.02%	0.01%	0.01%
	RS	B	0.03%	0.01%	0.01%
	RSG	A	0.08%	0.2%	0.08%
	RTX	D	0.3%	0.07%	0.07%
	RVTY	F	0.03%	0.02%	0.02%
	SBAC	D	0.05%	0.03%	0.03%
	SCHW	B	0.22%	0.37%	0.22%
	SHW	B	0.17%	0.01%	0.01%
	SLB	C	0.12%	0.09%	0.09%
	SMCI	F	0.02%	0.02%	0.02%
	SNA	A	0.04%	0.04%	0.04%
	SNAP	D	0.02%	0.04%	0.02%
	SNOW	B	0.08%	0.01%	0.01%
	SNPS	B	0.15%	0.12%	0.12%
	SO	C	0.18%	0.59%	0.18%
	SPGI	C	0.3%	0.52%	0.3%
	SSNC	B	0.03%	0.03%	0.03%
	STLD	B	0.04%	0.01%	0.01%
	STT	B	0.06%	0.05%	0.05%
	STX	C	0.04%	0.04%	0.04%
	SUI	C	0.03%	0.01%	0.01%
	SW	A	0.05%	0.12%	0.05%
	SWK	D	0.03%	0.03%	0.03%
	SWKS	F	0.03%	0.03%	0.03%
	SYF	B	0.05%	0.18%	0.05%
	SYY	D	0.07%	0.04%	0.04%
	TDG	D	0.13%	0.03%	0.03%
	TDY	B	0.04%	0.05%	0.04%
	TEAM	A	0.07%	0.06%	0.06%
	TECH	F	0.02%	0.02%	0.02%
	TER	F	0.03%	0.03%	0.03%
	TFC	A	0.12%	0.15%	0.12%
	TGT	F	0.14%	0.08%	0.08%
	TJX	A	0.26%	0.38%	0.26%
	TMO	F	0.38%	0.26%	0.26%
	TMUS	B	0.22%	4.59%	0.22%
	TPL	A	0.05%	0.05%	0.05%
	TRGP	A	0.08%	0.07%	0.07%
	TRMB	B	0.03%	0.04%	0.03%
	TROW	B	0.05%	0.05%	0.05%
	TRU	D	0.04%	0.05%	0.04%
	TRV	B	0.11%	0.09%	0.09%
	TSCO	D	0.06%	0.09%	0.06%
	TSLA	B	1.72%	1.32%	1.32%
	TT	A	0.18%	0.65%	0.18%
	TW	A	0.03%	0.05%	0.03%
	TWLO	A	0.03%	0.01%	0.01%
	TXN	C	0.35%	0.41%	0.35%
	TXT	D	0.03%	0.01%	0.01%
	TYL	B	0.05%	0.04%	0.04%
	UBER	F	0.28%	0.5%	0.28%
	UHAL	D	0.0%	0.02%	0.0%
	UHAL	D	0.01%	0.02%	0.01%
	ULTA	F	0.03%	0.05%	0.03%
	UNH	B	1.05%	0.01%	0.01%
	UNP	C	0.28%	0.55%	0.28%
	UPS	C	0.19%	0.03%	0.03%
	URI	C	0.11%	0.5%	0.11%
	USB	A	0.15%	0.2%	0.15%
	UTHR	C	0.03%	0.02%	0.02%
	V	A	1.0%	0.04%	0.04%
	VICI	C	0.06%	0.05%	0.05%
	VLO	C	0.09%	0.08%	0.08%
	VLTO	C	0.05%	0.11%	0.05%
	VMC	B	0.07%	0.61%	0.07%
	VRSK	A	0.08%	0.09%	0.08%
	VRSN	C	0.03%	0.01%	0.01%
	VRT	B	0.08%	0.14%	0.08%
	VRTX	D	0.23%	0.17%	0.17%
	VST	A	0.09%	0.17%	0.09%
	VTR	B	0.05%	0.06%	0.05%
	VTRS	A	0.03%	0.01%	0.01%
	WAB	B	0.07%	0.07%	0.07%
	WAT	C	0.04%	0.03%	0.03%
	WBA	F	0.01%	0.01%	0.01%
	WDAY	B	0.11%	0.08%	0.08%
	WDC	D	0.04%	0.04%	0.04%
	WELL	A	0.16%	0.18%	0.16%
	WFC	A	0.49%	0.62%	0.49%
	WM	B	0.15%	0.37%	0.15%
	WMB	A	0.13%	0.12%	0.12%
	WMT	A	0.7%	0.41%	0.41%
	WRB	A	0.04%	0.03%	0.03%
	WSM	C	0.03%	0.05%	0.03%
	WSO	A	0.04%	0.16%	0.04%
	WST	C	0.04%	0.03%	0.03%
	WTW	B	0.06%	0.05%	0.05%
	WY	F	0.04%	0.03%	0.03%
	XEL	A	0.07%	0.23%	0.07%
	XOM	B	1.02%	0.95%	0.95%
	XYL	D	0.06%	0.06%	0.06%
	ZBRA	B	0.04%	0.04%	0.04%
	ZM	C	0.04%	0.04%	0.04%
	ZS	B	0.04%	0.03%	0.03%
	ZTS	D	0.15%	0.08%	0.08%

ILCB Overweight 205 Positions Relative to INRO

	Symbol	Grade	Weight
	PG	C	0.77%
	NFLX	A	0.68%
	KO	D	0.46%
	CSCO	B	0.45%
	PEP	F	0.42%
	MCD	D	0.41%
	DIS	B	0.4%
	ABT	B	0.39%
	ISRG	A	0.36%
	VZ	C	0.34%
	CMCSA	B	0.32%
	BKNG	A	0.32%
	T	A	0.31%
	BLK	B	0.3%
	SYK	B	0.27%
	BSX	A	0.25%
	SBUX	A	0.22%
	MDT	D	0.22%
	PLD	F	0.2%
	ANET	C	0.19%
	ELV	F	0.18%
	MDLZ	F	0.17%
	CI	D	0.17%
	NKE	F	0.17%
	MSI	B	0.16%
	CL	D	0.15%
	MCK	A	0.15%
	CMG	B	0.15%
	BDX	F	0.13%
	CVS	D	0.13%
	CRH	A	0.13%
	HLT	A	0.12%
	ECL	D	0.12%
	HCA	F	0.12%
	MAR	A	0.12%
	SPG	A	0.11%
	ABNB	C	0.11%
	SRE	A	0.11%
	DASH	B	0.1%
	TTD	B	0.1%
	RCL	A	0.1%
	PEG	A	0.09%
	KMB	C	0.09%
	TEL	B	0.09%
	SQ	A	0.09%
	D	C	0.09%
	O	C	0.09%
	EA	A	0.08%
	COR	B	0.08%
	FERG	B	0.08%
	EW	C	0.08%
	KVUE	A	0.08%
	RMD	C	0.07%
	DD	C	0.07%
	KDP	F	0.07%
	IDXX	F	0.07%
	GIS	D	0.07%
	LULU	C	0.07%
	MNST	C	0.07%
	YUM	D	0.07%
	CTVA	C	0.07%
	CHTR	C	0.07%
	STZ	D	0.07%
	PPG	F	0.06%
	CAH	B	0.06%
	TTWO	A	0.06%
	CPNG	D	0.06%
	GPN	B	0.06%
	UAL	A	0.06%
	DXCM	C	0.06%
	CNC	D	0.06%
	DOW	F	0.06%
	WEC	A	0.06%
	VEEV	C	0.06%
	GEHC	D	0.06%
	HUM	C	0.06%
	ED	C	0.06%
	CCL	A	0.05%
	AEE	A	0.05%
	DTE	C	0.05%
	CPAY	A	0.05%
	HSY	F	0.05%
	ADM	D	0.05%
	AWK	C	0.05%
	RBLX	C	0.05%
	DECK	A	0.05%
	CHD	A	0.05%
	KHC	F	0.05%
	HOLX	D	0.04%
	MKC	C	0.04%
	OMC	C	0.04%
	IBKR	A	0.04%
	EXE	A	0.04%
	DKNG	B	0.04%
	LYV	A	0.04%
	LVS	B	0.04%
	COO	D	0.04%
	CNP	A	0.04%
	DRI	B	0.04%
	LH	B	0.04%
	CMS	C	0.04%
	WBD	B	0.04%
	CLX	A	0.04%
	LYB	F	0.04%
	K	A	0.04%
	STE	D	0.04%
	IFF	D	0.04%
	EXPE	B	0.04%
	ZBH	C	0.04%
	AKAM	D	0.03%
	UDR	B	0.03%
	RNR	C	0.03%
	POOL	C	0.03%
	SAIA	B	0.03%
	FFIV	B	0.03%
	EL	F	0.03%
	USFD	A	0.03%
	THC	D	0.03%
	CASY	A	0.03%
	FLEX	B	0.03%
	DPZ	C	0.03%
	RGA	A	0.03%
	TOL	B	0.03%
	CF	A	0.03%
	FIX	A	0.03%
	BAX	F	0.03%
	NI	A	0.03%
	ALGN	D	0.03%
	KIM	A	0.03%
	XPO	B	0.03%
	NTNX	B	0.03%
	FWONK	A	0.03%
	GPC	D	0.03%
	MOH	F	0.03%
	RPM	A	0.03%
	PODD	C	0.03%
	NTRA	A	0.03%
	DGX	A	0.03%
	TSN	B	0.03%
	MEDP	D	0.02%
	CE	F	0.02%
	DVA	C	0.02%
	CPB	D	0.02%
	MOS	F	0.02%
	HRL	D	0.02%
	WYNN	C	0.02%
	MGM	D	0.02%
	WING	D	0.02%
	TFX	F	0.02%
	AR	B	0.02%
	MORN	B	0.02%
	SOLV	D	0.02%
	WMS	F	0.02%
	WTRG	B	0.02%
	SRPT	F	0.02%
	CHDN	B	0.02%
	LKQ	F	0.02%
	UNM	A	0.02%
	IPG	D	0.02%
	FOXA	A	0.02%
	BJ	A	0.02%
	FND	D	0.02%
	LW	C	0.02%
	NWSA	A	0.02%
	TTEK	F	0.02%
	TAP	C	0.02%
	SJM	D	0.02%
	BLD	D	0.02%
	RRX	B	0.02%
	AMH	C	0.02%
	UHS	D	0.02%
	JNPR	D	0.02%
	NVT	B	0.02%
	OKTA	C	0.02%
	ALB	B	0.02%
	LECO	C	0.02%
	HST	C	0.02%
	EMN	C	0.02%
	WPC	C	0.02%
	REG	A	0.02%
	SCI	B	0.02%
	EQH	C	0.02%
	JKHY	D	0.02%
	CLH	C	0.02%
	BG	D	0.02%
	CAG	F	0.02%
	APTV	F	0.02%
	ELS	C	0.02%
	PFGC	B	0.02%
	COTY	F	0.01%
	PAG	B	0.01%
	NWS	A	0.01%
	CELH	F	0.01%
	WLK	D	0.01%
	BRKR	D	0.01%
	U	C	0.01%
	SNX	D	0.01%
	FOX	A	0.01%
	PCOR	B	0.01%
	SIRI	C	0.01%
	AZPN	A	0.01%
	CNM	D	0.01%
	FWONA	A	0.0%
	ALAB	B	0.0%
	AGR	A	0.0%

ILCB Underweight 16 Positions Relative to INRO

	Symbol	Grade	Weight
	Z	A	-0.25%
	WCN	A	-0.2%
	FBIN	D	-0.07%
	KNX	C	-0.04%
	CBOE	C	-0.04%
	MKTX	D	-0.03%
	SEIC	B	-0.02%
	TTC	C	-0.02%
	AIZ	A	-0.02%
	IOT	A	-0.02%
	BBWI	C	-0.02%
	MTCH	D	-0.02%
	CTLT	C	-0.01%
	BIO	C	-0.01%
	RIVN	F	-0.01%
	CHRD	D	-0.01%

ILCB: Top Represented Industries & Keywords

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

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

INRO: Top Represented Industries & Keywords

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

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