IWS vs. BTAL ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization 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 Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$138.63

Average Daily Volume

282,879

Number of Holdings ^*

707

* may have additional holdings in another (foreign) market

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.01

Average Daily Volume

445,126

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	IWS	BTAL
30 Days	5.17%	-4.57%
60 Days	5.63%	-3.16%
90 Days	7.53%	-3.70%
12 Months	31.74%	-6.81%

238 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in BTAL	Overlap
AA	B	0.12%	-0.56%	-0.56%
ACGL	D	0.4%	0.38%	0.38%
ADC	B	0.08%	0.45%	0.08%
AEE	A	0.27%	0.49%	0.27%
AES	F	0.11%	-0.35%	-0.35%
AFRM	B	0.14%	-0.84%	-0.84%
AGNC	D	0.08%	-0.41%	-0.41%
AIZ	A	0.13%	0.48%	0.13%
AKAM	D	0.14%	0.36%	0.14%
ALB	C	0.13%	-0.52%	-0.52%
ALGN	D	0.08%	-0.43%	-0.43%
ALL	A	0.48%	0.48%	0.48%
ALLY	C	0.1%	-0.37%	-0.37%
ALSN	B	0.11%	0.56%	0.11%
AMCR	D	0.16%	0.39%	0.16%
AMKR	D	0.03%	-0.34%	-0.34%
APG	B	0.09%	-0.44%	-0.44%
AR	B	0.1%	-0.53%	-0.53%
ARE	D	0.2%	-0.4%	-0.4%
ARMK	B	0.11%	0.45%	0.11%
ARW	D	0.07%	0.37%	0.07%
AVB	B	0.36%	0.45%	0.36%
AVT	C	0.05%	0.42%	0.05%
AWK	D	0.29%	-0.42%	-0.42%
AXS	A	0.07%	0.48%	0.07%
AXTA	A	0.1%	-0.49%	-0.49%
BBWI	D	0.08%	-0.44%	-0.44%
BG	F	0.14%	0.4%	0.14%
BILL	A	0.07%	0.68%	0.07%
BKR	B	0.47%	0.53%	0.47%
BLD	D	0.11%	-0.4%	-0.4%
BLDR	D	0.21%	-0.44%	-0.44%
BMRN	D	0.13%	0.29%	0.13%
BRO	B	0.16%	0.47%	0.16%
BWA	D	0.09%	0.44%	0.09%
BWXT	B	0.1%	0.53%	0.1%
BXP	D	0.14%	-0.46%	-0.46%
CACI	D	0.11%	0.42%	0.11%
CAR	C	0.01%	-0.51%	-0.51%
CBOE	B	0.23%	0.43%	0.23%
CBRE	B	0.44%	-0.51%	-0.51%
CC	C	0.03%	-0.43%	-0.43%
CCK	C	0.12%	0.43%	0.12%
CCL	B	0.27%	-0.63%	-0.63%
CE	F	0.07%	-0.24%	-0.24%
CF	B	0.18%	0.46%	0.18%
CFG	B	0.23%	-0.49%	-0.49%
CG	A	0.12%	-0.55%	-0.55%
CHD	B	0.29%	0.47%	0.29%
CHE	D	0.08%	0.4%	0.08%
CHH	A	0.01%	0.5%	0.01%
CHRW	C	0.14%	0.45%	0.14%
CINF	A	0.26%	0.49%	0.26%
CLH	B	0.14%	0.43%	0.14%
CMA	A	0.1%	-0.54%	-0.54%
CMS	C	0.22%	0.44%	0.22%
CNC	D	0.33%	0.32%	0.32%
CNM	D	0.03%	-0.38%	-0.38%
CNXC	F	0.02%	-0.23%	-0.23%
COHR	B	0.14%	-0.52%	-0.52%
COIN	C	0.11%	-0.71%	-0.71%
COLM	B	0.03%	0.43%	0.03%
COTY	F	0.03%	-0.33%	-0.33%
CPB	D	0.09%	0.38%	0.09%
CRL	C	0.11%	-0.41%	-0.41%
CSGP	D	0.32%	-0.42%	-0.42%
CTSH	B	0.42%	0.43%	0.42%
CVNA	B	0.19%	-0.68%	-0.68%
CW	B	0.15%	0.47%	0.15%
CWEN	C	0.01%	-0.42%	-0.42%
CWEN	C	0.03%	-0.42%	-0.42%
CXT	B	0.03%	0.42%	0.03%
CZR	F	0.09%	-0.42%	-0.42%
DAL	C	0.45%	-0.68%	-0.68%
DAR	C	0.08%	-0.45%	-0.45%
DAY	B	0.11%	-0.56%	-0.56%
DBX	B	0.05%	0.47%	0.05%
DD	D	0.38%	0.43%	0.38%
DGX	A	0.2%	0.45%	0.2%
DINO	D	0.07%	-0.39%	-0.39%
DKS	C	0.11%	-0.37%	-0.37%
DLB	B	0.05%	0.43%	0.05%
DOX	D	0.11%	0.43%	0.11%
DRI	B	0.1%	0.46%	0.1%
DVN	F	0.27%	0.37%	0.27%
ED	D	0.37%	0.42%	0.37%
EFX	F	0.27%	-0.35%	-0.35%
EG	C	0.15%	0.42%	0.15%
ELAN	D	0.08%	-0.39%	-0.39%
ELS	C	0.14%	0.43%	0.14%
EQR	B	0.31%	0.44%	0.31%
EQT	B	0.26%	-0.59%	-0.59%
EXP	A	0.03%	-0.53%	-0.53%
FANG	D	0.37%	0.39%	0.37%
FBIN	D	0.1%	-0.41%	-0.41%
FCN	D	0.08%	0.38%	0.08%
FFIV	B	0.15%	0.52%	0.15%
FLO	D	0.04%	0.42%	0.04%
FMC	D	0.07%	0.37%	0.07%
FND	C	0.08%	-0.4%	-0.4%
FOXA	B	0.12%	0.48%	0.12%
FYBR	D	0.09%	-0.53%	-0.53%
G	B	0.09%	0.49%	0.09%
GIS	D	0.39%	0.38%	0.38%
GLPI	C	0.14%	0.42%	0.14%
GLW	B	0.39%	0.47%	0.39%
GME	C	0.11%	-0.56%	-0.56%
GNRC	B	0.06%	-0.51%	-0.51%
GPC	D	0.19%	0.37%	0.19%
HHH	B	0.03%	-0.47%	-0.47%
HIG	B	0.38%	0.45%	0.38%
HOOD	B	0.24%	-0.72%	-0.72%
HPQ	B	0.3%	0.45%	0.3%
HRB	D	0.07%	0.41%	0.07%
HUM	C	0.37%	0.34%	0.34%
IBKR	A	0.21%	0.62%	0.21%
ILMN	D	0.24%	-0.43%	-0.43%
ITT	A	0.14%	-0.49%	-0.49%
J	F	0.19%	0.41%	0.19%
JAZZ	B	0.08%	0.44%	0.08%
JHG	A	0.06%	-0.53%	-0.53%
JLL	D	0.09%	-0.46%	-0.46%
JNPR	F	0.13%	0.39%	0.13%
KBR	F	0.08%	0.37%	0.08%
KMI	A	0.58%	0.56%	0.56%
KMX	B	0.13%	-0.4%	-0.4%
KR	B	0.42%	0.47%	0.42%
KRC	C	0.05%	-0.46%	-0.46%
KSS	F	0.02%	-0.39%	-0.39%
L	A	0.17%	0.45%	0.17%
LAMR	D	0.09%	-0.46%	-0.46%
LITE	B	0.06%	-0.62%	-0.62%
LNC	B	0.07%	-0.48%	-0.48%
LNG	B	0.26%	0.51%	0.26%
LNT	A	0.17%	0.46%	0.17%
LPX	B	0.02%	-0.52%	-0.52%
LYFT	C	0.02%	-0.65%	-0.65%
MAN	D	0.03%	0.37%	0.03%
MDU	D	0.04%	0.32%	0.04%
MGM	D	0.1%	-0.43%	-0.43%
MKC	D	0.21%	0.41%	0.21%
MKL	A	0.18%	0.53%	0.18%
MKSI	C	0.07%	-0.4%	-0.4%
MOH	F	0.07%	0.36%	0.07%
MOS	F	0.09%	0.38%	0.09%
MSA	D	0.07%	0.4%	0.07%
MSM	C	0.04%	0.43%	0.04%
MSTR	C	0.55%	1.19%	0.55%
MTCH	D	0.09%	0.35%	0.09%
MTDR	B	0.07%	-0.45%	-0.45%
NEU	C	0.04%	0.44%	0.04%
NRG	B	0.12%	-0.49%	-0.49%
NTRS	A	0.24%	-0.54%	-0.54%
NVT	B	0.13%	-0.49%	-0.49%
NWL	B	0.04%	0.54%	0.04%
O	D	0.54%	0.39%	0.39%
OC	A	0.18%	-0.46%	-0.46%
OHI	C	0.11%	0.43%	0.11%
OLLI	D	0.06%	0.41%	0.06%
ON	D	0.31%	0.38%	0.31%
ORI	A	0.1%	0.46%	0.1%
OZK	B	0.06%	-0.49%	-0.49%
PAG	B	0.03%	0.41%	0.03%
PATH	C	0.01%	-0.43%	-0.43%
PAYC	B	0.05%	0.59%	0.05%
PAYX	C	0.32%	0.47%	0.32%
PENN	C	0.03%	-0.46%	-0.46%
PFGC	B	0.12%	-0.49%	-0.49%
PKG	A	0.23%	0.49%	0.23%
PNFP	B	0.1%	-0.55%	-0.55%
PNW	B	0.11%	0.45%	0.11%
PWR	A	0.36%	-0.51%	-0.51%
REG	B	0.15%	0.45%	0.15%
RF	A	0.27%	-0.5%	-0.5%
RGA	A	0.17%	0.48%	0.17%
RGEN	D	0.07%	-0.37%	-0.37%
RH	B	0.04%	-0.53%	-0.53%
RIVN	F	0.09%	-0.3%	-0.3%
RKT	F	0.02%	-0.29%	-0.29%
RLI	B	0.08%	0.51%	0.08%
RMD	C	0.27%	-0.45%	-0.45%
RNR	C	0.15%	0.46%	0.15%
ROIV	C	0.05%	-0.41%	-0.41%
ROKU	D	0.08%	-0.47%	-0.47%
RRC	B	0.09%	-0.51%	-0.51%
RYN	D	0.05%	-0.44%	-0.44%
SAIA	B	0.06%	-0.59%	-0.59%
SAIC	F	0.07%	0.4%	0.07%
SEE	C	0.03%	-0.44%	-0.44%
SLGN	A	0.05%	0.46%	0.05%
SMG	D	0.04%	-0.46%	-0.46%
SNA	A	0.2%	0.55%	0.2%
SNV	B	0.09%	-0.54%	-0.54%
SNX	C	0.1%	0.41%	0.1%
SOFI	A	0.13%	-0.79%	-0.79%
SQ	B	0.3%	-0.6%	-0.6%
SSD	D	0.08%	-0.43%	-0.43%
ST	F	0.05%	0.36%	0.05%
TDY	B	0.24%	0.48%	0.24%
TER	D	0.02%	-0.33%	-0.33%
TFX	F	0.1%	-0.36%	-0.36%
THG	A	0.06%	0.51%	0.06%
THO	B	0.06%	-0.44%	-0.44%
TOL	B	0.17%	-0.47%	-0.47%
TPG	A	0.05%	-0.58%	-0.58%
TROW	B	0.29%	-0.48%	-0.48%
TRU	D	0.19%	-0.44%	-0.44%
TXG	F	0.01%	-0.26%	-0.26%
TXT	D	0.17%	0.4%	0.17%
UGI	A	0.06%	-0.44%	-0.44%
UNM	A	0.15%	0.57%	0.15%
URI	B	0.46%	-0.52%	-0.52%
USFD	A	0.16%	-0.49%	-0.49%
UTHR	C	0.17%	0.45%	0.17%
VFC	C	0.08%	0.48%	0.08%
VICI	C	0.36%	0.42%	0.36%
VNO	B	0.08%	-0.52%	-0.52%
VRSN	F	0.16%	0.43%	0.16%
VTRS	A	0.17%	0.48%	0.17%
W	F	0.04%	-0.41%	-0.41%
WAL	B	0.11%	-0.49%	-0.49%
WBA	F	0.07%	-0.4%	-0.4%
WCC	B	0.1%	-0.55%	-0.55%
WEC	A	0.34%	0.46%	0.34%
WEN	D	0.02%	0.46%	0.02%
WH	B	0.07%	0.53%	0.07%
WMS	D	0.06%	-0.37%	-0.37%
WOLF	F	0.01%	-0.25%	-0.25%
WPC	D	0.13%	0.41%	0.13%
WRB	A	0.2%	0.45%	0.2%
WTM	A	0.05%	0.39%	0.05%
WTW	B	0.35%	0.45%	0.35%
X	C	0.09%	0.43%	0.09%
XEL	A	0.43%	0.5%	0.43%
YUM	B	0.26%	0.43%	0.26%
Z	A	0.13%	-0.56%	-0.56%
ZI	D	0.03%	0.43%	0.03%
ZION	B	0.1%	-0.53%	-0.53%

IWS Overweight 469 Positions Relative to BTAL

Symbol	Grade	Weight
WMB	A	0.76%
OKE	A	0.7%
AFL	B	0.68%
AJG	B	0.65%
BK	A	0.64%
DLR	B	0.64%
CMI	A	0.54%
FIS	C	0.54%
DHI	D	0.53%
LHX	C	0.51%
CCI	D	0.5%
KVUE	A	0.5%
PRU	A	0.5%
PEG	A	0.49%
AME	A	0.49%
PCG	A	0.49%
SPG	B	0.48%
DFS	B	0.48%
HWM	A	0.47%
EA	A	0.47%
IR	B	0.45%
OTIS	C	0.44%
LEN	D	0.44%
CTVA	C	0.43%
EXC	C	0.43%
FERG	B	0.42%
A	D	0.41%
CHTR	C	0.4%
NUE	C	0.39%
ROST	C	0.39%
MTB	A	0.39%
RCL	A	0.39%
WAB	B	0.38%
EXR	D	0.38%
MCHP	D	0.37%
GEHC	F	0.37%
MLM	B	0.37%
GRMN	B	0.36%
NDAQ	A	0.36%
ETR	B	0.35%
EIX	B	0.35%
FITB	A	0.35%
TTWO	A	0.34%
IQV	D	0.34%
DOW	F	0.34%
EBAY	D	0.34%
GPN	B	0.33%
HLT	A	0.33%
ROK	B	0.33%
UAL	A	0.33%
RJF	A	0.33%
PPG	F	0.32%
STT	A	0.32%
ANSS	B	0.32%
XYL	D	0.32%
HPE	B	0.3%
VMC	B	0.3%
DOV	A	0.3%
KEYS	A	0.29%
HAL	C	0.29%
FTV	C	0.29%
FCNCA	A	0.29%
PHM	D	0.29%
SW	A	0.29%
ADM	D	0.28%
HBAN	A	0.28%
VTR	C	0.28%
SYF	B	0.28%
NVR	D	0.28%
DTE	C	0.27%
MTD	D	0.27%
PPL	B	0.27%
BIIB	F	0.26%
HUBB	B	0.26%
SBAC	D	0.26%
FE	C	0.26%
WBD	C	0.25%
WY	D	0.25%
ZBH	C	0.25%
HSY	F	0.24%
ZM	B	0.24%
EXE	B	0.24%
LYB	F	0.24%
LDOS	C	0.24%
STE	F	0.24%
ATO	A	0.24%
ES	D	0.24%
IFF	D	0.24%
WDC	D	0.23%
INVH	D	0.23%
STLD	B	0.23%
K	A	0.23%
LH	C	0.22%
PFG	D	0.22%
BBY	D	0.22%
IP	B	0.22%
FSLR	F	0.22%
OMC	C	0.21%
BALL	D	0.21%
CTRA	B	0.21%
ESS	B	0.21%
MSCI	C	0.21%
COO	D	0.21%
LUV	C	0.21%
CNP	B	0.21%
RS	B	0.2%
KEY	B	0.2%
HOLX	D	0.2%
WSO	A	0.2%
TSN	B	0.2%
MAA	B	0.2%
TRMB	B	0.19%
MAS	D	0.19%
IEX	B	0.19%
PNR	A	0.19%
CSL	C	0.19%
FNF	B	0.18%
MRO	B	0.18%
GEN	B	0.18%
BAX	D	0.18%
KIM	A	0.18%
NI	A	0.18%
DG	F	0.18%
SUI	D	0.17%
ZBRA	B	0.17%
SSNC	B	0.17%
SYY	B	0.16%
EXPD	D	0.16%
EVRG	A	0.16%
EWBC	A	0.16%
IRM	D	0.16%
HES	B	0.16%
APTV	D	0.16%
NDSN	B	0.16%
UDR	B	0.16%
ACM	A	0.16%
DOC	D	0.16%
THC	D	0.16%
JBHT	C	0.16%
GGG	B	0.16%
TWLO	A	0.15%
RPM	A	0.15%
NTAP	C	0.15%
SWKS	F	0.15%
RVTY	F	0.15%
VLTO	D	0.15%
EME	C	0.15%
AVTR	F	0.15%
CPT	B	0.14%
JKHY	D	0.14%
AMH	D	0.14%
CAG	D	0.14%
DLTR	F	0.14%
JBL	B	0.14%
SWK	D	0.14%
TPR	B	0.14%
INCY	C	0.13%
SF	B	0.13%
BJ	A	0.13%
OVV	B	0.13%
UHS	D	0.13%
CAH	B	0.13%
EMN	D	0.13%
CDW	F	0.13%
FDS	B	0.13%
SCI	B	0.13%
HST	C	0.13%
FTI	A	0.13%
NTNX	A	0.13%
EPAM	C	0.13%
ALLE	D	0.13%
CASY	A	0.13%
TECH	D	0.12%
CTLT	B	0.12%
EVR	B	0.12%
CUBE	D	0.12%
FWONK	B	0.12%
NWSA	B	0.12%
TAP	C	0.12%
ATR	B	0.12%
SJM	D	0.12%
FHN	A	0.12%
RRX	B	0.12%
CIEN	B	0.11%
WTRG	B	0.11%
GL	B	0.11%
MKTX	D	0.11%
DPZ	C	0.11%
EHC	B	0.11%
DTM	B	0.11%
AVY	D	0.11%
AFG	A	0.11%
NLY	C	0.11%
LKQ	D	0.11%
AYI	B	0.11%
RPRX	D	0.11%
LAD	A	0.11%
IPG	D	0.11%
WWD	B	0.11%
WBS	A	0.11%
PRI	A	0.11%
TTEK	F	0.1%
GWRE	A	0.1%
BRX	A	0.1%
AOS	F	0.1%
KNX	B	0.1%
HLI	B	0.1%
AAL	B	0.1%
HSIC	B	0.1%
PTC	A	0.1%
RBC	A	0.1%
WST	C	0.1%
TW	A	0.1%
REXR	F	0.1%
GMED	A	0.1%
RGLD	C	0.1%
DCI	B	0.1%
INGR	B	0.1%
JEF	A	0.1%
FRT	B	0.1%
SOLV	C	0.1%
BRBR	A	0.1%
CNH	C	0.1%
FLS	B	0.09%
ACI	C	0.09%
CHRD	D	0.09%
SEIC	B	0.09%
APA	D	0.09%
TKO	B	0.09%
LECO	B	0.09%
CFR	B	0.09%
FICO	B	0.09%
VOYA	B	0.09%
WAT	B	0.09%
EGP	F	0.09%
RL	B	0.09%
GPK	C	0.09%
NYT	C	0.09%
TTC	D	0.09%
HRL	D	0.09%
CR	A	0.09%
MTZ	B	0.09%
WYNN	D	0.09%
CBSH	A	0.09%
OGE	B	0.09%
WTFC	A	0.09%
MTSI	B	0.08%
GXO	B	0.08%
R	B	0.08%
FR	C	0.08%
ATI	D	0.08%
ESAB	B	0.08%
GNTX	C	0.08%
OSK	B	0.08%
MIDD	C	0.08%
CART	C	0.08%
SKX	D	0.08%
COKE	C	0.08%
FAST	B	0.08%
MHK	D	0.08%
LBRDK	C	0.08%
LW	C	0.08%
KEX	C	0.08%
RHI	B	0.08%
PB	A	0.08%
PR	B	0.08%
HII	D	0.08%
BERY	B	0.08%
NNN	D	0.08%
WHR	B	0.07%
VNT	B	0.07%
IDA	A	0.07%
S	B	0.07%
STWD	C	0.07%
BPOP	B	0.07%
BIO	D	0.07%
BEN	C	0.07%
QRVO	F	0.07%
COLD	D	0.07%
OMF	A	0.07%
MAT	D	0.07%
NOV	C	0.07%
SIRI	C	0.07%
ESI	A	0.07%
KD	B	0.07%
PARA	C	0.07%
MTG	C	0.07%
IVZ	B	0.07%
CGNX	C	0.07%
LSTR	D	0.07%
OKTA	C	0.07%
COLB	A	0.07%
FAF	A	0.07%
STAG	F	0.07%
HR	C	0.07%
WEX	D	0.07%
AZPN	A	0.07%
GWW	B	0.07%
VMI	B	0.07%
ALK	C	0.07%
WSM	B	0.07%
AMP	A	0.06%
BYD	C	0.06%
AL	B	0.06%
BFAM	D	0.06%
POST	C	0.06%
SLM	A	0.06%
CCCS	B	0.06%
SN	D	0.06%
LEA	D	0.06%
EXAS	D	0.06%
CRUS	D	0.06%
BC	C	0.06%
RITM	C	0.06%
NFG	A	0.06%
DOCS	C	0.06%
FOX	A	0.06%
PVH	C	0.06%
H	B	0.06%
ONTO	D	0.06%
AMG	B	0.06%
LFUS	F	0.06%
AGCO	D	0.06%
FNB	A	0.06%
GTES	A	0.05%
AN	C	0.05%
WLK	D	0.05%
M	D	0.05%
GAP	C	0.05%
KMPR	B	0.05%
EEFT	B	0.05%
AWI	A	0.05%
PSN	D	0.05%
WSC	D	0.05%
CUZ	B	0.05%
AGO	B	0.05%
CROX	D	0.05%
FRPT	B	0.05%
HXL	D	0.05%
OLN	D	0.05%
TKR	D	0.05%
SON	D	0.05%
HUN	F	0.04%
AM	A	0.04%
ZG	A	0.04%
ALNY	D	0.04%
EPR	D	0.04%
HIW	D	0.04%
MASI	A	0.04%
ACHC	F	0.04%
FHB	A	0.04%
UHAL	D	0.04%
IAC	D	0.04%
PII	D	0.04%
NVST	B	0.04%
CLF	F	0.04%
NWS	B	0.04%
TNL	A	0.04%
VNOM	A	0.04%
PRGO	B	0.04%
CIVI	D	0.04%
XRAY	F	0.04%
DNB	B	0.04%
MSGS	A	0.04%
DXC	B	0.04%
PLNT	A	0.04%
OLED	D	0.04%
TYL	B	0.04%
OGN	D	0.04%
ASH	D	0.04%
LINE	F	0.04%
SITE	D	0.04%
HOG	D	0.04%
GFS	C	0.04%
HAYW	B	0.03%
JWN	C	0.03%
YETI	C	0.03%
ULTA	F	0.03%
PINC	B	0.03%
ALGM	D	0.03%
BR	A	0.03%
CPRI	F	0.03%
SPB	C	0.03%
MP	B	0.03%
ENOV	C	0.03%
MPW	F	0.03%
AGR	B	0.03%
BOKF	B	0.03%
WU	D	0.03%
VIRT	B	0.03%
ECG	C	0.03%
U	C	0.03%
AMED	F	0.03%
NSA	D	0.03%
PK	B	0.03%
IRDM	D	0.03%
SNRE	D	0.03%
LLYVK	A	0.03%
BROS	B	0.03%
NXST	C	0.03%
SPR	D	0.03%
AMTM	D	0.03%
BHF	B	0.03%
LOPE	B	0.03%
VAC	B	0.03%
TRIP	F	0.02%
SNDR	B	0.02%
REYN	D	0.02%
LEG	F	0.02%
FTRE	D	0.02%
EXEL	B	0.02%
UA	C	0.02%
QS	F	0.02%
CLVT	F	0.02%
GO	C	0.02%
BIRK	D	0.02%
LEN	D	0.02%
ALAB	B	0.02%
VSTS	C	0.02%
CRI	D	0.02%
UAA	C	0.02%
PSTG	D	0.02%
AZEK	A	0.02%
PPC	C	0.02%
LCID	F	0.02%
ETSY	D	0.02%
LBTYK	A	0.02%
INFA	D	0.02%
IPGP	D	0.02%
QDEL	F	0.02%
LBTYA	B	0.02%
BRKR	D	0.02%
GLOB	B	0.02%
SHC	F	0.02%
AZTA	D	0.02%
ADT	C	0.02%
AAP	C	0.02%
RCM	F	0.02%
SAM	C	0.02%
PLTK	B	0.01%
DJT	C	0.01%
CACC	D	0.01%
SEB	F	0.01%
TFSL	A	0.01%
UI	A	0.01%
LSCC	D	0.01%
FIVE	F	0.01%
HCP	B	0.01%
MTN	C	0.01%
CNA	B	0.01%
LBRDA	C	0.01%
HAS	D	0.01%
FWONA	B	0.01%
PYCR	C	0.01%
AS	B	0.01%
CERT	F	0.01%
DV	C	0.01%
LLYVA	A	0.01%
NCNO	B	0.01%
DDS	B	0.01%
LOAR	A	0.0%
PARAA	B	0.0%
UWMC	D	0.0%
SEG	B	0.0%
NFE	D	0.0%
UHAL	D	0.0%
GRAL	C	0.0%
LAZ	B	0.0%
IONS	F	0.0%

IWS Underweight 155 Positions Relative to BTAL

Symbol	Grade	Weight
SFM	A	-0.6%
LPLA	A	-0.59%
HQY	B	-0.58%
CFLT	B	-0.56%
PCTY	B	-0.53%
TGNA	B	-0.53%
TRV	B	-0.52%
FTNT	C	-0.52%
TXRH	C	-0.51%
MSI	B	-0.51%
PCAR	B	-0.51%
MCK	B	-0.51%
BMY	B	-0.51%
WELL	A	-0.5%
PNM	F	-0.5%
ORLY	B	-0.5%
T	A	-0.5%
CSCO	B	-0.49%
TMUS	B	-0.49%
GILD	C	-0.49%
SIGI	C	-0.48%
LULU	C	-0.48%
SBRA	C	-0.47%
CME	A	-0.47%
AON	A	-0.47%
HON	B	-0.47%
HEI	B	-0.47%
RYAN	B	-0.47%
EDR	A	-0.46%
ADP	B	-0.46%
CB	C	-0.45%
CSX	B	-0.45%
CMG	B	-0.45%
PGR	A	-0.45%
WM	A	-0.45%
IBM	C	-0.45%
COR	B	-0.45%
ROP	B	-0.45%
XOM	B	-0.44%
ACN	C	-0.44%
DECK	A	-0.44%
CDP	C	-0.44%
VZ	C	-0.44%
UNH	C	-0.43%
MSFT	F	-0.43%
MUSA	A	-0.43%
RTX	C	-0.43%
RSG	A	-0.43%
TJX	A	-0.43%
DUK	C	-0.43%
JNJ	D	-0.42%
MMC	B	-0.42%
MCD	D	-0.42%
GD	F	-0.41%
CI	F	-0.4%
NOC	D	-0.4%
ASGN	F	-0.39%
KHC	F	-0.38%
ERIE	D	-0.38%
OXY	D	-0.38%
LMT	D	-0.38%
KO	D	-0.37%
TNET	D	-0.37%
PFE	D	-0.37%
AMGN	D	-0.37%
MUR	D	-0.37%
ABBV	D	-0.36%
NEM	D	-0.35%
FOXF	F	-0.35%
AZO	C	-0.33%
ELV	F	-0.33%
SRPT	D	-0.32%
AGL	F	-0.16%
SMCI	F	--0.18%
SEDG	F	--0.19%
RUN	F	--0.21%
MRNA	F	--0.22%
ENPH	F	--0.23%
MPWR	F	--0.24%
NTLA	F	--0.27%
CELH	F	--0.29%
OPEN	D	--0.3%
EL	F	--0.31%
BRZE	C	--0.33%
ELF	C	--0.35%
SHLS	F	--0.35%
ARWR	F	--0.35%
LRCX	F	--0.36%
NVCR	C	--0.38%
RIG	D	--0.38%
PLD	D	--0.39%
IDXX	F	--0.39%
PINS	D	--0.4%
AMD	F	--0.4%
POWI	D	--0.41%
DNLI	D	--0.42%
CHX	C	--0.42%
FCX	D	--0.42%
UBER	D	--0.42%
MU	D	--0.43%
CRSP	D	--0.43%
F	C	--0.44%
EW	C	--0.44%
TGT	F	--0.44%
TREX	C	--0.45%
NWE	B	--0.45%
D	C	--0.45%
CARR	D	--0.45%
AVGO	D	--0.45%
VEEV	C	--0.46%
ZS	C	--0.46%
ANET	C	--0.46%
SHW	A	--0.47%
NVDA	C	--0.48%
GH	B	--0.49%
SNAP	C	--0.49%
USB	A	--0.49%
TTD	B	--0.5%
NET	B	--0.5%
RMBS	C	--0.51%
TT	A	--0.51%
RBLX	C	--0.51%
CEG	D	--0.52%
PEN	B	--0.52%
ETN	A	--0.52%
IOT	A	--0.52%
PYPL	B	--0.52%
DELL	C	--0.53%
MDB	C	--0.53%
DKNG	B	--0.53%
INTC	D	--0.54%
BLK	C	--0.54%
FOUR	B	--0.54%
XPO	B	--0.54%
KKR	A	--0.55%
SCHW	B	--0.56%
EXPE	B	--0.56%
MRVL	B	--0.56%
TDOC	C	--0.56%
NTRA	B	--0.56%
BX	A	--0.57%
CRWD	B	--0.57%
GTLS	B	--0.58%
OWL	A	--0.58%
PODD	C	--0.59%
DASH	A	--0.59%
LYV	A	--0.62%
DUOL	A	--0.63%
VRT	B	--0.67%
PTON	B	--0.69%
TSLA	B	--0.7%
TOST	B	--0.71%
AXON	A	--0.74%
VST	B	--0.76%
PLTR	B	--0.87%