IUSV vs. QARP ETF Comparison

Comparison of iShares Core U.S. Vaue ETF (IUSV) to Xtrackers Russell 1000 US QARP ETF (QARP)

IUSV

iShares Core U.S. Vaue ETF

IUSV Description

The investment seeks to track the investment results of a broad-based index composed of U.S. equities that exhibit value characteristics. 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. It seeks to track the investment results of the Russell 3000 Value Index (the "underlying index"), which measures the performance of the value sector of the broad U.S. equity market.

Grade (RS Rating)

Last Trade

$98.97

Average Daily Volume

517,714

Number of Holdings ^*

728

* may have additional holdings in another (foreign) market

QARP

Xtrackers Russell 1000 US QARP ETF

QARP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the "underlying index"). The fund will invest at least 80% of its total assets (but typically far more) in component securities of the underlying index. The underlying index is designed to track the equity market performance of companies in the United States selected on the investment style criteria ("factors") of quality and value. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$53.85

Average Daily Volume

3,299

Number of Holdings ^*

345

* may have additional holdings in another (foreign) market

Performance

Period	IUSV	QARP
30 Days	3.05%	3.81%
60 Days	4.28%	3.83%
90 Days	6.30%	5.70%
12 Months	27.24%	26.96%

253 Overlapping Holdings

	Symbol	Grade	Weight in IUSV	Weight in QARP	Overlap
	A	D	0.17%	0.09%	0.09%
	AAL	B	0.04%	0.04%	0.04%
	ABBV	D	0.83%	0.02%	0.02%
	ABNB	C	0.13%	0.23%	0.13%
	ABT	B	0.87%	0.22%	0.22%
	ACM	B	0.03%	0.04%	0.03%
	ACN	C	0.46%	1.18%	0.46%
	ADI	D	0.19%	0.08%	0.08%
	ADM	D	0.11%	0.27%	0.11%
	ADP	B	0.33%	0.21%	0.21%
	ADSK	A	0.14%	0.06%	0.06%
	AGCO	D	0.02%	0.06%	0.02%
	ALB	C	0.05%	0.02%	0.02%
	ALGN	F	0.03%	0.05%	0.03%
	AMCR	D	0.06%	0.03%	0.03%
	AMG	B	0.02%	0.09%	0.02%
	AMGN	D	0.7%	0.03%	0.03%
	AON	A	0.17%	0.33%	0.17%
	AOS	F	0.01%	0.06%	0.01%
	APTV	D	0.06%	0.05%	0.05%
	AR	B	0.04%	0.02%	0.02%
	ARMK	B	0.04%	0.04%	0.04%
	ATO	A	0.1%	0.07%	0.07%
	AYI	B	0.02%	0.08%	0.02%
	AZO	C	0.07%	0.34%	0.07%
	BBY	D	0.08%	0.23%	0.08%
	BIIB	F	0.11%	0.02%	0.02%
	BJ	A	0.05%	0.11%	0.05%
	BKR	B	0.19%	0.1%	0.1%
	BMY	B	0.52%	0.62%	0.52%
	BRK.A	B	3.74%	5.21%	3.74%
	BURL	A	0.03%	0.04%	0.03%
	BWA	D	0.03%	0.06%	0.03%
	BX	A	0.16%	0.06%	0.06%
	CAH	B	0.13%	0.4%	0.13%
	CAT	B	0.34%	0.67%	0.34%
	CBOE	B	0.03%	0.07%	0.03%
	CBRE	B	0.17%	0.09%	0.09%
	CCL	B	0.03%	0.05%	0.03%
	CDW	F	0.06%	0.02%	0.02%
	CF	B	0.03%	0.13%	0.03%
	CHE	D	0.01%	0.04%	0.01%
	CHRW	C	0.06%	0.06%	0.06%
	CHTR	C	0.09%	0.14%	0.09%
	CI	F	0.4%	0.55%	0.4%
	CINF	A	0.1%	0.09%	0.09%
	CL	D	0.2%	0.21%	0.2%
	CLF	F	0.02%	0.05%	0.02%
	CLX	B	0.09%	0.06%	0.06%
	CMCSA	B	0.73%	0.86%	0.73%
	CMI	A	0.22%	0.26%	0.22%
	CNC	D	0.13%	0.23%	0.13%
	CNM	D	0.02%	0.04%	0.02%
	CNP	B	0.09%	0.04%	0.04%
	COF	B	0.31%	0.16%	0.16%
	COP	C	0.18%	0.78%	0.18%
	COR	B	0.19%	0.4%	0.19%
	COST	B	1.04%	2.32%	1.04%
	CPB	D	0.04%	0.02%	0.02%
	CRUS	D	0.01%	0.03%	0.01%
	CSCO	B	1.02%	1.97%	1.02%
	CSX	B	0.15%	0.07%	0.07%
	CTAS	B	0.15%	0.08%	0.08%
	CTRA	B	0.03%	0.11%	0.03%
	CTSH	B	0.17%	0.3%	0.17%
	CTVA	C	0.17%	0.02%	0.02%
	CVS	D	0.3%	0.18%	0.18%
	CVX	A	1.2%	1.54%	1.2%
	DAL	C	0.08%	0.22%	0.08%
	DCI	B	0.02%	0.04%	0.02%
	DD	D	0.15%	0.02%	0.02%
	DE	A	0.19%	0.24%	0.19%
	DGX	A	0.08%	0.03%	0.03%
	DINO	D	0.03%	0.02%	0.02%
	DKS	C	0.02%	0.09%	0.02%
	DLTR	F	0.06%	0.07%	0.06%
	DOW	F	0.14%	0.07%	0.07%
	DPZ	C	0.04%	0.03%	0.03%
	DRI	B	0.04%	0.13%	0.04%
	DVN	F	0.11%	0.17%	0.11%
	EA	A	0.1%	0.21%	0.1%
	EBAY	D	0.13%	0.09%	0.09%
	EG	C	0.07%	0.06%	0.06%
	EL	F	0.07%	0.02%	0.02%
	ELV	F	0.41%	0.47%	0.41%
	EOG	A	0.11%	0.5%	0.11%
	EPAM	C	0.04%	0.04%	0.04%
	EVR	B	0.01%	0.11%	0.01%
	EW	C	0.11%	0.06%	0.06%
	EXPD	D	0.05%	0.13%	0.05%
	FAST	B	0.1%	0.22%	0.1%
	FCX	D	0.14%	0.04%	0.04%
	FDS	B	0.04%	0.1%	0.04%
	FDX	B	0.29%	0.33%	0.29%
	FFIV	B	0.06%	0.06%	0.06%
	FOXA	B	0.05%	0.03%	0.03%
	G	B	0.03%	0.03%	0.03%
	GAP	B	0.02%	0.03%	0.02%
	GEHC	F	0.17%	0.13%	0.13%
	GEV	B	0.22%	0.2%	0.2%
	GILD	C	0.5%	0.33%	0.33%
	GIS	D	0.16%	0.09%	0.09%
	GLPI	C	0.03%	0.03%	0.03%
	GM	B	0.28%	0.25%	0.25%
	GNTX	C	0.01%	0.04%	0.01%
	GPC	D	0.08%	0.07%	0.07%
	GRMN	B	0.07%	0.16%	0.07%
	GWW	B	0.06%	0.27%	0.06%
	HAL	C	0.12%	0.06%	0.06%
	HCA	F	0.15%	0.27%	0.15%
	HD	A	1.11%	2.0%	1.11%
	HII	D	0.03%	0.02%	0.02%
	HOLX	D	0.08%	0.04%	0.04%
	HPQ	A	0.16%	0.08%	0.08%
	HST	C	0.02%	0.03%	0.02%
	HSY	F	0.07%	0.09%	0.07%
	HUM	C	0.15%	0.31%	0.15%
	INCY	C	0.05%	0.07%	0.05%
	INGR	B	0.03%	0.05%	0.03%
	INTC	D	0.47%	0.08%	0.08%
	IP	B	0.09%	0.04%	0.04%
	ISRG	A	0.28%	0.18%	0.18%
	ITW	B	0.17%	0.31%	0.17%
	J	F	0.08%	0.04%	0.04%
	JBHT	C	0.06%	0.05%	0.05%
	JBL	B	0.03%	0.06%	0.03%
	JHG	A	0.03%	0.03%	0.03%
	JKHY	D	0.06%	0.05%	0.05%
	JNJ	D	1.6%	2.32%	1.6%
	JNPR	F	0.06%	0.04%	0.04%
	K	A	0.09%	0.06%	0.06%
	KEYS	A	0.12%	0.12%	0.12%
	KMB	D	0.19%	0.15%	0.15%
	KNX	B	0.04%	0.03%	0.03%
	KR	B	0.17%	0.3%	0.17%
	KVUE	A	0.2%	0.21%	0.2%
	LAMR	D	0.02%	0.03%	0.02%
	LEA	D	0.02%	0.04%	0.02%
	LEN	D	0.08%	0.4%	0.08%
	LH	C	0.09%	0.07%	0.07%
	LKQ	D	0.04%	0.02%	0.02%
	LMT	D	0.5%	0.71%	0.5%
	LOW	D	0.67%	0.78%	0.67%
	LPX	B	0.01%	0.04%	0.01%
	LSTR	D	0.01%	0.05%	0.01%
	LUV	C	0.08%	0.11%	0.08%
	LVS	C	0.03%	0.04%	0.03%
	LYB	F	0.09%	0.09%	0.09%
	M	D	0.02%	0.02%	0.02%
	MA	C	0.53%	1.58%	0.53%
	MAS	D	0.03%	0.07%	0.03%
	MCD	D	0.52%	0.39%	0.39%
	MCHP	F	0.06%	0.04%	0.04%
	MCK	B	0.35%	1.15%	0.35%
	MCO	B	0.17%	0.33%	0.17%
	MGM	D	0.01%	0.05%	0.01%
	MHK	D	0.03%	0.02%	0.02%
	MKTX	D	0.04%	0.05%	0.04%
	MMC	B	0.23%	0.55%	0.23%
	MMM	D	0.32%	0.12%	0.12%
	MNST	C	0.07%	0.15%	0.07%
	MO	A	0.41%	0.63%	0.41%
	MOH	F	0.03%	0.06%	0.03%
	MOS	F	0.04%	0.04%	0.04%
	MPC	D	0.1%	0.25%	0.1%
	MRK	F	0.65%	0.32%	0.32%
	MRNA	F	0.06%	0.05%	0.05%
	MRO	B	0.03%	0.11%	0.03%
	MSCI	C	0.09%	0.23%	0.09%
	MSM	C	0.01%	0.03%	0.01%
	MTD	D	0.07%	0.09%	0.07%
	MTG	C	0.02%	0.11%	0.02%
	MTZ	B	0.04%	0.03%	0.03%
	MU	D	0.48%	0.35%	0.35%
	NKE	D	0.23%	0.31%	0.23%
	NTAP	C	0.07%	0.06%	0.06%
	NUE	C	0.06%	0.37%	0.06%
	OLN	D	0.01%	0.03%	0.01%
	ON	D	0.07%	0.04%	0.04%
	ORLY	B	0.08%	0.38%	0.08%
	OSK	B	0.03%	0.04%	0.03%
	OTIS	C	0.11%	0.04%	0.04%
	OXY	D	0.15%	0.06%	0.06%
	PAYC	B	0.03%	0.04%	0.03%
	PAYX	C	0.12%	0.2%	0.12%
	PCAR	B	0.07%	0.24%	0.07%
	PFE	D	0.64%	0.48%	0.48%
	PFGC	B	0.06%	0.08%	0.06%
	PG	A	1.05%	1.34%	1.05%
	PGR	A	0.33%	0.06%	0.06%
	PII	D	0.02%	0.03%	0.02%
	PKG	A	0.09%	0.06%	0.06%
	PM	B	0.55%	0.55%	0.55%
	POOL	C	0.03%	0.06%	0.03%
	PSA	D	0.13%	0.31%	0.13%
	PSX	C	0.24%	0.12%	0.12%
	PVH	C	0.03%	0.03%	0.03%
	PWR	A	0.06%	0.06%	0.06%
	PYPL	B	0.38%	0.34%	0.34%
	QCOM	F	0.38%	0.26%	0.26%
	REGN	F	0.15%	0.26%	0.15%
	RL	B	0.02%	0.05%	0.02%
	RLI	B	0.01%	0.03%	0.01%
	RNR	C	0.03%	0.05%	0.03%
	ROK	B	0.07%	0.09%	0.07%
	ROL	B	0.03%	0.04%	0.03%
	SBUX	A	0.2%	0.52%	0.2%
	SEIC	B	0.02%	0.07%	0.02%
	SJM	D	0.05%	0.03%	0.03%
	SLB	C	0.27%	0.14%	0.14%
	SNA	A	0.05%	0.12%	0.05%
	SOLV	C	0.04%	0.1%	0.04%
	SPG	B	0.15%	0.2%	0.15%
	SPGI	C	0.4%	0.07%	0.07%
	STLD	B	0.03%	0.23%	0.03%
	SWKS	F	0.06%	0.08%	0.06%
	SYF	B	0.11%	0.14%	0.11%
	SYY	B	0.16%	0.33%	0.16%
	T	A	0.7%	0.69%	0.69%
	TAP	C	0.05%	0.04%	0.04%
	TER	D	0.08%	0.03%	0.03%
	TGT	F	0.31%	0.4%	0.31%
	THO	B	0.03%	0.03%	0.03%
	TJX	A	0.21%	0.82%	0.21%
	TPR	B	0.06%	0.12%	0.06%
	TROW	B	0.12%	0.25%	0.12%
	TSCO	D	0.08%	0.16%	0.08%
	TSN	B	0.08%	0.04%	0.04%
	TT	A	0.13%	0.08%	0.08%
	TXN	C	0.52%	0.37%	0.37%
	TXT	D	0.07%	0.06%	0.06%
	UAL	A	0.13%	0.1%	0.1%
	UHS	D	0.05%	0.05%	0.05%
	ULTA	F	0.03%	0.15%	0.03%
	UNH	C	1.48%	2.32%	1.48%
	UNP	C	0.34%	0.12%	0.12%
	UPS	C	0.42%	0.4%	0.4%
	USFD	A	0.07%	0.04%	0.04%
	UTHR	C	0.04%	0.11%	0.04%
	V	A	0.77%	1.84%	0.77%
	VICI	C	0.14%	0.07%	0.07%
	VLO	C	0.2%	0.18%	0.18%
	VRSN	F	0.04%	0.06%	0.04%
	VRTX	F	0.2%	0.21%	0.2%
	VZ	C	0.75%	0.65%	0.65%
	WAT	B	0.06%	0.03%	0.03%
	WBD	C	0.1%	0.04%	0.04%
	WMT	A	1.6%	2.88%	1.6%
	WTW	B	0.14%	0.03%	0.03%
	WY	D	0.1%	0.08%	0.08%
	X	C	0.04%	0.03%	0.03%
	XOM	B	2.34%	3.19%	2.34%
	YUM	B	0.09%	0.05%	0.05%

IUSV Overweight 475 Positions Relative to QARP

	Symbol	Grade	Weight
	JPM	A	3.01%
	BAC	A	1.35%
	WFC	A	1.08%
	DIS	B	0.87%
	IBM	C	0.84%
	GS	A	0.81%
	MS	A	0.72%
	RTX	C	0.69%
	NEE	D	0.68%
	DHR	F	0.67%
	HON	B	0.66%
	KO	D	0.65%
	BLK	C	0.64%
	PEP	F	0.63%
	C	A	0.57%
	TMO	F	0.55%
	SCHW	B	0.52%
	TMUS	B	0.51%
	GE	D	0.48%
	MDT	D	0.48%
	CB	C	0.47%
	LIN	D	0.46%
	PLD	D	0.46%
	SO	D	0.41%
	ICE	C	0.39%
	DUK	C	0.37%
	PNC	B	0.36%
	WELL	A	0.34%
	USB	A	0.34%
	GD	F	0.33%
	EMR	A	0.32%
	APD	A	0.31%
	NOC	D	0.3%
	BDX	F	0.29%
	TFC	A	0.27%
	TRV	B	0.26%
	FI	A	0.26%
	NSC	B	0.26%
	BA	F	0.25%
	JCI	C	0.25%
	BK	A	0.25%
	SRE	A	0.25%
	BSX	B	0.25%
	ETN	A	0.24%
	AFL	B	0.24%
	ALL	A	0.23%
	KMI	A	0.23%
	AMT	D	0.23%
	AEP	D	0.22%
	MDLZ	F	0.22%
	CME	A	0.22%
	LHX	C	0.21%
	D	C	0.21%
	SYK	C	0.21%
	FIS	C	0.21%
	AXP	A	0.21%
	MET	A	0.21%
	AIG	B	0.21%
	O	D	0.21%
	CCI	D	0.2%
	PCG	A	0.2%
	PRU	A	0.2%
	SHW	A	0.2%
	EQIX	A	0.2%
	NEM	D	0.2%
	WM	A	0.19%
	F	C	0.19%
	PEG	A	0.19%
	WMB	A	0.18%
	STZ	D	0.17%
	EXC	C	0.17%
	APH	A	0.17%
	XEL	A	0.17%
	CEG	D	0.17%
	ZTS	D	0.16%
	MTB	A	0.16%
	GLW	B	0.16%
	KDP	D	0.16%
	RMD	C	0.15%
	HIG	B	0.15%
	WAB	B	0.15%
	ROP	B	0.15%
	MSI	B	0.15%
	EXR	D	0.15%
	ETR	B	0.14%
	AJG	B	0.14%
	EIX	B	0.14%
	FITB	A	0.14%
	DLR	B	0.14%
	NDAQ	A	0.14%
	AVB	B	0.14%
	CARR	D	0.14%
	ED	D	0.14%
	PPG	F	0.13%
	XYL	D	0.13%
	GPN	B	0.13%
	RJF	A	0.13%
	WEC	A	0.13%
	ECL	D	0.13%
	HPE	B	0.12%
	DOV	A	0.12%
	KHC	F	0.12%
	STT	A	0.12%
	TEL	B	0.12%
	RF	A	0.11%
	PPL	B	0.11%
	DTE	C	0.11%
	EQR	B	0.11%
	SW	A	0.11%
	VLTO	D	0.11%
	EQT	B	0.11%
	HBAN	A	0.11%
	AWK	D	0.11%
	AMP	A	0.11%
	VTR	C	0.11%
	ES	D	0.1%
	ZBH	C	0.1%
	TDY	B	0.1%
	ILMN	D	0.1%
	LDOS	C	0.1%
	IFF	D	0.1%
	AME	A	0.1%
	OKE	A	0.1%
	AEE	A	0.1%
	HWM	A	0.09%
	EXE	B	0.09%
	PH	A	0.09%
	EFX	F	0.09%
	DFS	B	0.09%
	CMS	C	0.09%
	ZBRA	B	0.09%
	OMC	C	0.09%
	WDC	D	0.09%
	FE	C	0.09%
	FSLR	F	0.09%
	CFG	B	0.09%
	NTRS	A	0.09%
	IQV	D	0.09%
	TRMB	B	0.08%
	IEX	B	0.08%
	CSGP	D	0.08%
	KEY	B	0.08%
	WRB	A	0.08%
	DELL	C	0.08%
	RSG	A	0.08%
	VRSK	A	0.08%
	PFG	D	0.08%
	MAA	B	0.08%
	NRG	B	0.08%
	BALL	D	0.08%
	MKC	D	0.08%
	INVH	D	0.08%
	ESS	B	0.08%
	DOC	D	0.07%
	VTRS	A	0.07%
	L	A	0.07%
	RGA	A	0.07%
	FNF	B	0.07%
	LNT	A	0.07%
	IDXX	F	0.07%
	COHR	B	0.07%
	THC	D	0.07%
	AVY	D	0.07%
	BAX	D	0.07%
	NI	A	0.07%
	GEN	B	0.07%
	IRM	D	0.07%
	DOCU	A	0.07%
	KIM	A	0.07%
	ARE	D	0.07%
	DG	F	0.07%
	CPT	B	0.06%
	ANSS	B	0.06%
	HUBB	B	0.06%
	CAG	D	0.06%
	SWK	D	0.06%
	UDR	B	0.06%
	VMC	B	0.06%
	NDSN	B	0.06%
	SBAC	D	0.06%
	NXPI	D	0.06%
	RVTY	F	0.06%
	CHD	B	0.06%
	EVRG	A	0.06%
	TTWO	A	0.06%
	AFG	A	0.05%
	GME	C	0.05%
	AA	B	0.05%
	CTLT	B	0.05%
	FHN	A	0.05%
	IPG	D	0.05%
	NWSA	B	0.05%
	AIZ	A	0.05%
	TECH	D	0.05%
	PODD	C	0.05%
	BR	A	0.05%
	DXCM	D	0.05%
	RRX	B	0.05%
	COO	D	0.05%
	BXP	D	0.05%
	SF	B	0.05%
	EMN	D	0.05%
	JEF	A	0.05%
	REG	B	0.05%
	WPC	D	0.05%
	STX	D	0.05%
	MLM	B	0.05%
	KMX	B	0.05%
	JLL	D	0.05%
	BG	F	0.05%
	SNV	B	0.04%
	MTCH	D	0.04%
	HAS	D	0.04%
	SSB	B	0.04%
	AVTR	F	0.04%
	SFM	A	0.04%
	OGE	B	0.04%
	HSIC	B	0.04%
	FRT	B	0.04%
	GPK	C	0.04%
	TPL	A	0.04%
	ZION	B	0.04%
	WTFC	A	0.04%
	FLR	B	0.04%
	SNX	C	0.04%
	ORI	A	0.04%
	HRL	D	0.04%
	TFX	F	0.04%
	XPO	B	0.04%
	GMED	A	0.04%
	PTC	A	0.04%
	WCC	B	0.04%
	CNH	C	0.04%
	STE	F	0.04%
	IR	B	0.04%
	NLY	C	0.04%
	GL	B	0.04%
	ALLY	C	0.04%
	AES	F	0.04%
	LAD	A	0.04%
	WBS	A	0.04%
	CRL	C	0.04%
	UNM	A	0.04%
	PNW	B	0.04%
	BRO	B	0.03%
	FOX	A	0.03%
	KRG	B	0.03%
	FNB	A	0.03%
	THG	A	0.03%
	LITE	B	0.03%
	CIEN	B	0.03%
	SCI	B	0.03%
	ESNT	D	0.03%
	OHI	C	0.03%
	ARW	D	0.03%
	STWD	C	0.03%
	WHR	B	0.03%
	QRVO	F	0.03%
	WBA	F	0.03%
	HR	C	0.03%
	GBCI	B	0.03%
	DAR	C	0.03%
	NOV	C	0.03%
	COLB	A	0.03%
	KD	B	0.03%
	BEN	C	0.03%
	EWBC	A	0.03%
	BIO	D	0.03%
	PARA	C	0.03%
	FAF	A	0.03%
	CACI	D	0.03%
	FMC	D	0.03%
	CMC	B	0.03%
	VNO	B	0.03%
	VMI	B	0.03%
	ONB	B	0.03%
	AKAM	D	0.03%
	TMHC	B	0.03%
	R	B	0.03%
	BERY	B	0.03%
	ADC	B	0.03%
	ALLE	D	0.03%
	FYBR	D	0.03%
	IBKR	A	0.03%
	IVZ	B	0.03%
	PB	A	0.03%
	RPM	A	0.03%
	CYTK	F	0.02%
	CZR	F	0.02%
	GATX	A	0.02%
	DTM	B	0.02%
	FR	D	0.02%
	XRAY	F	0.02%
	NWS	A	0.02%
	PRGO	B	0.02%
	MIDD	C	0.02%
	ALE	A	0.02%
	MAT	D	0.02%
	ASH	D	0.02%
	IDA	A	0.02%
	CGNX	C	0.02%
	HOG	D	0.02%
	MKSI	C	0.02%
	LW	C	0.02%
	SR	A	0.02%
	HQY	B	0.02%
	ASB	B	0.02%
	ASGN	F	0.02%
	KRC	C	0.02%
	TXNM	A	0.02%
	CNO	A	0.02%
	TCBI	B	0.02%
	FLS	B	0.02%
	ORA	B	0.02%
	ERIE	D	0.02%
	SAIC	F	0.02%
	OGS	A	0.02%
	SLGN	A	0.02%
	KBR	F	0.02%
	KMPR	B	0.02%
	TTC	D	0.02%
	AN	C	0.02%
	FLO	D	0.02%
	RGLD	C	0.02%
	SBRA	C	0.02%
	KEX	C	0.02%
	GNRC	B	0.02%
	BKH	A	0.02%
	BRBR	A	0.02%
	TKO	B	0.02%
	JAZZ	B	0.02%
	SWX	B	0.02%
	AVNT	B	0.02%
	CUZ	B	0.02%
	IRT	A	0.02%
	ATR	B	0.02%
	AVT	C	0.02%
	VLY	B	0.02%
	AMH	D	0.02%
	ELS	C	0.02%
	CUBE	D	0.02%
	POR	C	0.02%
	NJR	A	0.02%
	BRX	A	0.02%
	CW	B	0.02%
	NNN	D	0.02%
	SON	D	0.02%
	ST	F	0.02%
	WAL	B	0.02%
	WTRG	B	0.02%
	BDC	B	0.02%
	CBSH	A	0.02%
	VOYA	B	0.02%
	UGI	A	0.02%
	NXST	C	0.02%
	POST	C	0.02%
	CFR	B	0.02%
	DAY	B	0.02%
	UMBF	B	0.02%
	ENPH	F	0.02%
	PNR	A	0.02%
	BMRN	D	0.02%
	UBSI	B	0.02%
	NFG	A	0.02%
	EHC	B	0.02%
	PNFP	B	0.02%
	CG	A	0.02%
	REXR	F	0.02%
	FBIN	D	0.02%
	HOMB	A	0.02%
	CCK	C	0.02%
	UA	B	0.01%
	HGV	B	0.01%
	TNL	A	0.01%
	IPGP	D	0.01%
	YETI	C	0.01%
	CPRI	F	0.01%
	EPR	D	0.01%
	MMS	F	0.01%
	PSN	D	0.01%
	NSP	D	0.01%
	BLKB	B	0.01%
	VC	D	0.01%
	WEN	D	0.01%
	NSA	D	0.01%
	COLM	B	0.01%
	KNF	A	0.01%
	TEX	D	0.01%
	SAM	C	0.01%
	GEF	A	0.01%
	AMED	F	0.01%
	SYNA	C	0.01%
	POWI	D	0.01%
	OPCH	D	0.01%
	LIVN	F	0.01%
	CHH	A	0.01%
	HAE	C	0.01%
	VSH	D	0.01%
	IRDM	D	0.01%
	UAA	C	0.01%
	DLB	B	0.01%
	CNXC	F	0.01%
	VNOM	A	0.01%
	CADE	B	0.01%
	LFUS	F	0.01%
	LANC	C	0.01%
	ROIV	C	0.01%
	CRI	D	0.01%
	CHX	C	0.01%
	CBT	C	0.01%
	PPC	C	0.01%
	ALGM	D	0.01%
	SRPT	D	0.01%
	EEFT	B	0.01%
	CDP	C	0.01%
	ALTM	C	0.01%
	SMG	D	0.01%
	EQH	B	0.01%
	ZI	D	0.01%
	AM	A	0.01%
	BC	C	0.01%
	JWN	C	0.01%
	IBOC	A	0.01%
	ENS	D	0.01%
	RCM	F	0.01%
	MTN	C	0.01%
	EXPO	D	0.01%
	BRKR	D	0.01%
	HWC	B	0.01%
	RYN	D	0.01%
	NOVT	D	0.01%
	HXL	D	0.01%
	ENOV	C	0.01%
	OZK	B	0.01%
	GXO	B	0.01%
	CHWY	B	0.01%
	GT	C	0.01%
	WU	D	0.01%
	WH	B	0.01%
	MASI	A	0.01%
	MUR	D	0.01%
	SIGI	C	0.01%
	RH	B	0.01%
	MTSI	B	0.01%
	CXT	B	0.01%
	KBH	D	0.01%
	CC	C	0.01%
	NEOG	F	0.01%
	ALV	C	0.01%
	TKR	D	0.01%
	AMKR	D	0.01%
	PCH	D	0.01%
	VAC	B	0.01%
	MAN	D	0.01%
	PBF	D	0.01%
	CVLT	B	0.01%
	SLM	A	0.01%
	PAG	B	0.01%
	FFIN	B	0.01%
	GHC	C	0.01%
	EXLS	B	0.01%
	AZPN	A	0.01%
	EGP	F	0.01%
	DVA	B	0.01%
	DOCS	C	0.01%
	FLG	C	0.01%
	STAG	F	0.01%
	BHF	B	0.01%
	AMTM	D	0.01%
	NWE	A	0.01%
	NVST	B	0.01%
	FHI	A	0.01%
	MAGN	F	0.0%
	AZTA	D	0.0%
	WMG	C	0.0%

IUSV Underweight 92 Positions Relative to QARP

	Symbol	Grade	Weight
	META	D	-5.17%
	AAPL	C	-4.88%
	AMZN	C	-3.99%
	GOOGL	C	-2.36%
	GOOG	C	-2.14%
	MSFT	F	-2.05%
	ADBE	C	-0.91%
	BKNG	A	-0.8%
	AMAT	F	-0.77%
	TSLA	B	-0.75%
	LRCX	F	-0.45%
	DHI	D	-0.31%
	ROST	C	-0.25%
	ACGL	D	-0.24%
	URI	B	-0.23%
	NVR	D	-0.23%
	FTNT	C	-0.22%
	PHM	D	-0.21%
	VST	B	-0.2%
	FANG	D	-0.19%
	ODFL	B	-0.19%
	LPLA	A	-0.19%
	NVDA	C	-0.18%
	LULU	C	-0.18%
	RS	B	-0.17%
	BLDR	D	-0.17%
	KLAC	D	-0.17%
	EXPE	B	-0.17%
	EME	C	-0.15%
	WSM	B	-0.15%
	FCNCA	A	-0.14%
	DECK	A	-0.13%
	OC	A	-0.13%
	ANET	C	-0.13%
	CASY	A	-0.12%
	MAR	B	-0.12%
	CMG	B	-0.11%
	CPNG	D	-0.1%
	WST	C	-0.09%
	FICO	B	-0.08%
	WSO	A	-0.08%
	HRB	D	-0.08%
	LYV	A	-0.08%
	DOX	D	-0.07%
	GGG	B	-0.07%
	CPRT	A	-0.07%
	RHI	B	-0.07%
	AMD	F	-0.07%
	LNG	B	-0.07%
	TOL	B	-0.07%
	EXP	A	-0.06%
	TXRH	C	-0.06%
	SKX	D	-0.06%
	FIX	A	-0.05%
	BLD	D	-0.05%
	ORCL	B	-0.05%
	ITT	A	-0.05%
	CSL	C	-0.05%
	SAIA	B	-0.05%
	COIN	C	-0.05%
	MUSA	A	-0.05%
	ACI	C	-0.05%
	NYT	C	-0.04%
	KNSL	B	-0.04%
	WYNN	D	-0.04%
	ALSN	B	-0.04%
	COKE	C	-0.04%
	FND	C	-0.04%
	LECO	B	-0.04%
	CHRD	D	-0.04%
	HLI	B	-0.04%
	DBX	B	-0.04%
	ALK	C	-0.04%
	SSD	D	-0.03%
	FCN	D	-0.03%
	PINC	B	-0.03%
	RPRX	D	-0.03%
	OVV	B	-0.03%
	LOPE	B	-0.03%
	MEDP	D	-0.03%
	VVV	F	-0.03%
	LLY	F	-0.03%
	EXEL	B	-0.03%
	BBWI	D	-0.02%
	NEU	C	-0.02%
	CDNS	B	-0.02%
	CE	F	-0.02%
	FIVE	F	-0.02%
	TTEK	F	-0.02%
	APA	D	-0.02%
	CROX	D	-0.02%
	IWB	A	-0.0%

IUSV: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Utilities - Regulated Electric Business Services Asset Management Diagnostics & Research Packaged Foods Semiconductors Packaging & Containers Software - Application Specialty Chemicals Capital Markets Medical Instruments & Supplies Specialty Retail Biotechnology Insurance - Property & Casualty Oil & Gas E&P Information Technology Services Medical Devices REIT - Diversified

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

QARP: Top Represented Industries & Keywords

Industries: Specialty Retail Oil & Gas E&P Semiconductors Drug Manufacturers - Major Capital Markets Diversified Industrials Restaurants Biotechnology Business Services Engineering & Construction Health Care Plans Auto Parts Building Materials Diagnostics & Research Household & Personal Products Integrated Shipping & Logistics Software - Application Software - Infrastructure Airlines Apparel Stores

Keywords: S&P 500 Nasdaq 100 Computing Dow Jones Component Natural Gas Electronics Chemical Building Materials Insurance Retailing Semiconductor Mining Construction Transport Clothing Petroleum Industry Telecommunications Aerospace Medicine Mobile Devices