IWS vs. NZAC ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

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

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to exceed the minimum standards for a "Paris-Aligned Benchmark" under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$37.32

Average Daily Volume

6,937

Number of Holdings ^*

370

* may have additional holdings in another (foreign) market

Performance

Period	IWS	NZAC
30 Days	5.17%	0.97%
60 Days	5.63%	0.81%
90 Days	7.53%	2.64%
12 Months	31.74%	25.98%

164 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in NZAC	Overlap
A	D	0.41%	0.06%	0.06%
ACGL	D	0.4%	0.12%	0.12%
ACM	A	0.16%	0.36%	0.16%
AFG	A	0.11%	0.07%	0.07%
AFL	B	0.68%	0.28%	0.28%
AIZ	A	0.13%	0.09%	0.09%
AJG	B	0.65%	0.07%	0.07%
ALB	C	0.13%	0.01%	0.01%
ALGN	D	0.08%	0.03%	0.03%
ALL	A	0.48%	0.14%	0.14%
ALLE	D	0.13%	0.09%	0.09%
ALLY	C	0.1%	0.02%	0.02%
ALNY	D	0.04%	0.03%	0.03%
AME	A	0.49%	0.16%	0.16%
AMP	A	0.06%	0.16%	0.06%
ANSS	B	0.32%	0.02%	0.02%
AVB	B	0.36%	0.12%	0.12%
AVTR	F	0.15%	0.03%	0.03%
BAX	D	0.18%	0.02%	0.02%
BBWI	D	0.08%	0.01%	0.01%
BIIB	F	0.26%	0.03%	0.03%
BIO	D	0.07%	0.01%	0.01%
BK	A	0.64%	0.13%	0.13%
BMRN	D	0.13%	0.02%	0.02%
BR	A	0.03%	0.08%	0.03%
BRO	B	0.16%	0.05%	0.05%
BXP	D	0.14%	0.07%	0.07%
CBOE	B	0.23%	0.03%	0.03%
CBRE	B	0.44%	0.18%	0.18%
CCI	D	0.5%	0.07%	0.07%
CDW	F	0.13%	0.13%	0.13%
CG	A	0.12%	0.02%	0.02%
CHD	B	0.29%	0.1%	0.1%
CHTR	C	0.4%	0.07%	0.07%
CINF	A	0.26%	0.07%	0.07%
COIN	C	0.11%	0.04%	0.04%
CSGP	D	0.32%	0.02%	0.02%
CTLT	B	0.12%	0.02%	0.02%
CTSH	B	0.42%	0.08%	0.08%
DFS	B	0.48%	0.09%	0.09%
DGX	A	0.2%	0.02%	0.02%
DHI	D	0.53%	0.06%	0.06%
DLR	B	0.64%	0.39%	0.39%
DLTR	F	0.14%	0.02%	0.02%
DOC	D	0.16%	0.01%	0.01%
EA	A	0.47%	0.01%	0.01%
EBAY	D	0.34%	0.14%	0.14%
EFX	F	0.27%	0.03%	0.03%
EG	C	0.15%	0.03%	0.03%
EIX	B	0.35%	0.81%	0.35%
EPAM	C	0.13%	0.01%	0.01%
EQR	B	0.31%	0.07%	0.07%
ESS	B	0.21%	0.1%	0.1%
EXAS	D	0.06%	0.01%	0.01%
EXR	D	0.38%	0.04%	0.04%
FAST	B	0.08%	0.17%	0.08%
FDS	B	0.13%	0.01%	0.01%
FFIV	B	0.15%	0.18%	0.15%
FIS	C	0.54%	0.07%	0.07%
FOX	A	0.06%	0.03%	0.03%
FOXA	B	0.12%	0.04%	0.04%
FSLR	F	0.22%	0.16%	0.16%
FTV	C	0.29%	0.09%	0.09%
GIS	D	0.39%	0.08%	0.08%
GLW	B	0.39%	0.19%	0.19%
GPN	B	0.33%	0.05%	0.05%
GRMN	B	0.36%	0.08%	0.08%
GWW	B	0.07%	0.21%	0.07%
HBAN	A	0.28%	0.02%	0.02%
HIG	B	0.38%	0.12%	0.12%
HLT	A	0.33%	0.02%	0.02%
HOLX	D	0.2%	0.05%	0.05%
HPE	B	0.3%	0.16%	0.16%
HSIC	B	0.1%	0.05%	0.05%
HSY	F	0.24%	0.05%	0.05%
HUM	C	0.37%	0.06%	0.06%
IEX	B	0.19%	0.04%	0.04%
ILMN	D	0.24%	0.04%	0.04%
INCY	C	0.13%	0.01%	0.01%
IPG	D	0.11%	0.01%	0.01%
IQV	D	0.34%	0.1%	0.1%
IRM	D	0.16%	0.06%	0.06%
JKHY	D	0.14%	0.01%	0.01%
JNPR	F	0.13%	0.13%	0.13%
KEYS	A	0.29%	0.06%	0.06%
KVUE	A	0.5%	0.01%	0.01%
LEN	D	0.02%	0.06%	0.02%
LEN	D	0.44%	0.06%	0.06%
LH	C	0.22%	0.02%	0.02%
LKQ	D	0.11%	0.03%	0.03%
MAS	D	0.19%	0.01%	0.01%
MKC	D	0.21%	0.01%	0.01%
MKL	A	0.18%	0.07%	0.07%
MKTX	D	0.11%	0.01%	0.01%
MOH	F	0.07%	0.02%	0.02%
MSTR	C	0.55%	0.02%	0.02%
MTB	A	0.39%	0.1%	0.1%
MTCH	D	0.09%	0.01%	0.01%
MTD	D	0.27%	0.06%	0.06%
NDAQ	A	0.36%	0.04%	0.04%
NTAP	C	0.15%	0.06%	0.06%
NTRS	A	0.24%	0.05%	0.05%
NVR	D	0.28%	0.03%	0.03%
O	D	0.54%	0.07%	0.07%
OMC	C	0.21%	0.03%	0.03%
PAYC	B	0.05%	0.01%	0.01%
PAYX	C	0.32%	0.08%	0.08%
PHM	D	0.29%	0.04%	0.04%
PNR	A	0.19%	0.23%	0.19%
PPG	F	0.32%	0.11%	0.11%
PRU	A	0.5%	0.15%	0.15%
PWR	A	0.36%	0.24%	0.24%
REG	B	0.15%	0.08%	0.08%
RF	A	0.27%	0.07%	0.07%
RIVN	F	0.09%	0.01%	0.01%
RJF	A	0.33%	0.04%	0.04%
RMD	C	0.27%	0.07%	0.07%
ROK	B	0.33%	0.08%	0.08%
ROST	C	0.39%	0.09%	0.09%
RPRX	D	0.11%	0.02%	0.02%
RS	B	0.2%	0.08%	0.08%
RVTY	F	0.15%	0.07%	0.07%
SBAC	D	0.26%	0.03%	0.03%
SEIC	B	0.09%	0.02%	0.02%
SNA	A	0.2%	0.02%	0.02%
SPG	B	0.48%	0.15%	0.15%
SQ	B	0.3%	0.01%	0.01%
SQ	B	0.3%	0.02%	0.02%
STE	F	0.24%	0.03%	0.03%
STLD	B	0.23%	0.01%	0.01%
STT	A	0.32%	0.02%	0.02%
SUI	D	0.17%	0.01%	0.01%
SWKS	F	0.15%	0.01%	0.01%
SYF	B	0.28%	0.09%	0.09%
TDY	B	0.24%	0.1%	0.1%
TECH	D	0.12%	0.01%	0.01%
TER	D	0.02%	0.03%	0.02%
TFX	F	0.1%	0.02%	0.02%
TRMB	B	0.19%	0.07%	0.07%
TROW	B	0.29%	0.05%	0.05%
TRU	D	0.19%	0.01%	0.01%
TW	A	0.1%	0.02%	0.02%
UHAL	D	0.04%	0.04%	0.04%
UHAL	D	0.0%	0.04%	0.0%
ULTA	F	0.03%	0.05%	0.03%
URI	B	0.46%	0.05%	0.05%
VICI	C	0.36%	0.03%	0.03%
VLTO	D	0.15%	0.03%	0.03%
VMC	B	0.3%	0.02%	0.02%
VRSN	F	0.16%	0.01%	0.01%
VTR	C	0.28%	0.06%	0.06%
WAB	B	0.38%	0.08%	0.08%
WAT	B	0.09%	0.02%	0.02%
WPC	D	0.13%	0.01%	0.01%
WRB	A	0.2%	0.07%	0.07%
WST	C	0.1%	0.02%	0.02%
WTW	B	0.35%	0.07%	0.07%
WYNN	D	0.09%	0.01%	0.01%
XYL	D	0.32%	0.36%	0.32%
YUM	B	0.26%	0.07%	0.07%
Z	A	0.13%	0.02%	0.02%
ZBH	C	0.25%	0.05%	0.05%
ZBRA	B	0.17%	0.02%	0.02%
ZM	B	0.24%	0.02%	0.02%

IWS Overweight 544 Positions Relative to NZAC

Symbol	Grade	Weight
WMB	A	0.76%
OKE	A	0.7%
KMI	A	0.58%
CMI	A	0.54%
LHX	C	0.51%
PEG	A	0.49%
PCG	A	0.49%
HWM	A	0.47%
BKR	B	0.47%
DAL	C	0.45%
IR	B	0.45%
OTIS	C	0.44%
CTVA	C	0.43%
XEL	A	0.43%
EXC	C	0.43%
FERG	B	0.42%
KR	B	0.42%
NUE	C	0.39%
RCL	A	0.39%
DD	D	0.38%
FANG	D	0.37%
MCHP	D	0.37%
ED	D	0.37%
GEHC	F	0.37%
MLM	B	0.37%
ETR	B	0.35%
FITB	A	0.35%
TTWO	A	0.34%
DOW	F	0.34%
WEC	A	0.34%
UAL	A	0.33%
CNC	D	0.33%
ON	D	0.31%
HPQ	B	0.3%
DOV	A	0.3%
HAL	C	0.29%
AWK	D	0.29%
FCNCA	A	0.29%
SW	A	0.29%
ADM	D	0.28%
CCL	B	0.27%
DVN	F	0.27%
AEE	A	0.27%
DTE	C	0.27%
PPL	B	0.27%
HUBB	B	0.26%
EQT	B	0.26%
LNG	B	0.26%
FE	C	0.26%
WBD	C	0.25%
WY	D	0.25%
HOOD	B	0.24%
EXE	B	0.24%
LYB	F	0.24%
LDOS	C	0.24%
ATO	A	0.24%
ES	D	0.24%
IFF	D	0.24%
WDC	D	0.23%
INVH	D	0.23%
PKG	A	0.23%
K	A	0.23%
CFG	B	0.23%
PFG	D	0.22%
BBY	D	0.22%
IP	B	0.22%
CMS	C	0.22%
BALL	D	0.21%
CTRA	B	0.21%
IBKR	A	0.21%
BLDR	D	0.21%
MSCI	C	0.21%
COO	D	0.21%
LUV	C	0.21%
CNP	B	0.21%
KEY	B	0.2%
WSO	A	0.2%
TSN	B	0.2%
ARE	D	0.2%
MAA	B	0.2%
CVNA	B	0.19%
GPC	D	0.19%
J	F	0.19%
CSL	C	0.19%
CF	B	0.18%
FNF	B	0.18%
MRO	B	0.18%
GEN	B	0.18%
KIM	A	0.18%
NI	A	0.18%
DG	F	0.18%
OC	A	0.18%
L	A	0.17%
VTRS	A	0.17%
RGA	A	0.17%
TOL	B	0.17%
LNT	A	0.17%
SSNC	B	0.17%
TXT	D	0.17%
UTHR	C	0.17%
SYY	B	0.16%
EXPD	D	0.16%
EVRG	A	0.16%
EWBC	A	0.16%
HES	B	0.16%
APTV	D	0.16%
NDSN	B	0.16%
UDR	B	0.16%
USFD	A	0.16%
THC	D	0.16%
AMCR	D	0.16%
JBHT	C	0.16%
GGG	B	0.16%
TWLO	A	0.15%
RPM	A	0.15%
RNR	C	0.15%
UNM	A	0.15%
CW	B	0.15%
EME	C	0.15%
CPT	B	0.14%
ITT	A	0.14%
COHR	B	0.14%
CLH	B	0.14%
AMH	D	0.14%
CAG	D	0.14%
BG	F	0.14%
CHRW	C	0.14%
GLPI	C	0.14%
AFRM	B	0.14%
JBL	B	0.14%
ELS	C	0.14%
AKAM	D	0.14%
SWK	D	0.14%
TPR	B	0.14%
KMX	B	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%
SOFI	A	0.13%
SCI	B	0.13%
HST	C	0.13%
FTI	A	0.13%
NVT	B	0.13%
NTNX	A	0.13%
CASY	A	0.13%
CCK	C	0.12%
EVR	B	0.12%
CUBE	D	0.12%
FWONK	B	0.12%
NWSA	B	0.12%
TAP	C	0.12%
PFGC	B	0.12%
ATR	B	0.12%
AA	B	0.12%
SJM	D	0.12%
FHN	A	0.12%
RRX	B	0.12%
NRG	B	0.12%
CRL	C	0.11%
DOX	D	0.11%
CIEN	B	0.11%
WTRG	B	0.11%
GL	B	0.11%
WAL	B	0.11%
DPZ	C	0.11%
EHC	B	0.11%
ARMK	B	0.11%
DTM	B	0.11%
AVY	D	0.11%
OHI	C	0.11%
AES	F	0.11%
NLY	C	0.11%
GME	C	0.11%
AYI	B	0.11%
BLD	D	0.11%
DAY	B	0.11%
DKS	C	0.11%
LAD	A	0.11%
ALSN	B	0.11%
WWD	B	0.11%
WBS	A	0.11%
PRI	A	0.11%
CACI	D	0.11%
PNW	B	0.11%
TTEK	F	0.1%
ZION	B	0.1%
GWRE	A	0.1%
BRX	A	0.1%
AOS	F	0.1%
MGM	D	0.1%
SNX	C	0.1%
KNX	B	0.1%
HLI	B	0.1%
AAL	B	0.1%
AR	B	0.1%
PTC	A	0.1%
RBC	A	0.1%
WCC	B	0.1%
AXTA	A	0.1%
REXR	F	0.1%
GMED	A	0.1%
FBIN	D	0.1%
RGLD	C	0.1%
BWXT	B	0.1%
DCI	B	0.1%
CMA	A	0.1%
INGR	B	0.1%
JEF	A	0.1%
FRT	B	0.1%
ORI	A	0.1%
SOLV	C	0.1%
DRI	B	0.1%
BRBR	A	0.1%
CNH	C	0.1%
PNFP	B	0.1%
FLS	B	0.09%
BWA	D	0.09%
G	B	0.09%
ACI	C	0.09%
CHRD	D	0.09%
RRC	B	0.09%
CZR	F	0.09%
SNV	B	0.09%
X	C	0.09%
APG	B	0.09%
APA	D	0.09%
TKO	B	0.09%
LECO	B	0.09%
CFR	B	0.09%
FICO	B	0.09%
CPB	D	0.09%
VOYA	B	0.09%
LAMR	D	0.09%
EGP	F	0.09%
RL	B	0.09%
GPK	C	0.09%
NYT	C	0.09%
TTC	D	0.09%
MOS	F	0.09%
HRL	D	0.09%
CR	A	0.09%
MTZ	B	0.09%
JLL	D	0.09%
FYBR	D	0.09%
CBSH	A	0.09%
OGE	B	0.09%
WTFC	A	0.09%
RLI	B	0.08%
DAR	C	0.08%
ELAN	D	0.08%
FCN	D	0.08%
MTSI	B	0.08%
GXO	B	0.08%
FND	C	0.08%
R	B	0.08%
SSD	D	0.08%
FR	C	0.08%
ATI	D	0.08%
ESAB	B	0.08%
GNTX	C	0.08%
AGNC	D	0.08%
OSK	B	0.08%
VFC	C	0.08%
VNO	B	0.08%
KBR	F	0.08%
MIDD	C	0.08%
CART	C	0.08%
SKX	D	0.08%
COKE	C	0.08%
MHK	D	0.08%
LBRDK	C	0.08%
LW	C	0.08%
KEX	C	0.08%
RHI	B	0.08%
ROKU	D	0.08%
PB	A	0.08%
CHE	D	0.08%
ADC	B	0.08%
JAZZ	B	0.08%
PR	B	0.08%
HII	D	0.08%
BERY	B	0.08%
NNN	D	0.08%
LNC	B	0.07%
WHR	B	0.07%
VNT	B	0.07%
IDA	A	0.07%
RGEN	D	0.07%
CE	F	0.07%
S	B	0.07%
WBA	F	0.07%
STWD	C	0.07%
ARW	D	0.07%
BPOP	B	0.07%
BEN	C	0.07%
QRVO	F	0.07%
COLD	D	0.07%
OMF	A	0.07%
MTDR	B	0.07%
SAIC	F	0.07%
MAT	D	0.07%
NOV	C	0.07%
SIRI	C	0.07%
MSA	D	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%
BILL	A	0.07%
OKTA	C	0.07%
COLB	A	0.07%
FAF	A	0.07%
STAG	F	0.07%
MKSI	C	0.07%
HR	C	0.07%
WEX	D	0.07%
AZPN	A	0.07%
DINO	D	0.07%
HRB	D	0.07%
AXS	A	0.07%
VMI	B	0.07%
ALK	C	0.07%
WSM	B	0.07%
WH	B	0.07%
FMC	D	0.07%
BYD	C	0.06%
UGI	A	0.06%
AL	B	0.06%
BFAM	D	0.06%
OZK	B	0.06%
POST	C	0.06%
SLM	A	0.06%
CCCS	B	0.06%
SN	D	0.06%
LEA	D	0.06%
CRUS	D	0.06%
BC	C	0.06%
GNRC	B	0.06%
LITE	B	0.06%
RITM	C	0.06%
THO	B	0.06%
NFG	A	0.06%
OLLI	D	0.06%
DOCS	C	0.06%
PVH	C	0.06%
H	B	0.06%
WMS	D	0.06%
SAIA	B	0.06%
ONTO	D	0.06%
JHG	A	0.06%
THG	A	0.06%
AMG	B	0.06%
LFUS	F	0.06%
AGCO	D	0.06%
FNB	A	0.06%
GTES	A	0.05%
TPG	A	0.05%
DLB	B	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%
SLGN	A	0.05%
RYN	D	0.05%
AWI	A	0.05%
PSN	D	0.05%
WSC	D	0.05%
DBX	B	0.05%
KRC	C	0.05%
CUZ	B	0.05%
AGO	B	0.05%
ST	F	0.05%
AVT	C	0.05%
ROIV	C	0.05%
CROX	D	0.05%
FRPT	B	0.05%
HXL	D	0.05%
OLN	D	0.05%
WTM	A	0.05%
TKR	D	0.05%
SON	D	0.05%
SMG	D	0.04%
HUN	F	0.04%
AM	A	0.04%
ZG	A	0.04%
EPR	D	0.04%
HIW	D	0.04%
MASI	A	0.04%
ACHC	F	0.04%
FHB	A	0.04%
IAC	D	0.04%
PII	D	0.04%
NVST	B	0.04%
CLF	F	0.04%
W	F	0.04%
NWS	B	0.04%
TNL	A	0.04%
NWL	B	0.04%
VNOM	A	0.04%
PRGO	B	0.04%
CIVI	D	0.04%
XRAY	F	0.04%
DNB	B	0.04%
MDU	D	0.04%
NEU	C	0.04%
MSGS	A	0.04%
DXC	B	0.04%
PLNT	A	0.04%
RH	B	0.04%
OLED	D	0.04%
MSM	C	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%
FLO	D	0.04%
GFS	C	0.04%
HAYW	B	0.03%
JWN	C	0.03%
CWEN	C	0.03%
YETI	C	0.03%
PINC	B	0.03%
ALGM	D	0.03%
CPRI	F	0.03%
SPB	C	0.03%
EXP	A	0.03%
MP	B	0.03%
ENOV	C	0.03%
HHH	B	0.03%
MPW	F	0.03%
AGR	B	0.03%
CC	C	0.03%
BOKF	B	0.03%
WU	D	0.03%
COTY	F	0.03%
CXT	B	0.03%
COLM	B	0.03%
CNM	D	0.03%
SEE	C	0.03%
VIRT	B	0.03%
ECG	C	0.03%
U	C	0.03%
AMED	F	0.03%
AMKR	D	0.03%
MAN	D	0.03%
NSA	D	0.03%
PAG	B	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%
PENN	C	0.03%
ZI	D	0.03%
TRIP	F	0.02%
SNDR	B	0.02%
REYN	D	0.02%
LEG	F	0.02%
FTRE	D	0.02%
WEN	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%
ALAB	B	0.02%
VSTS	C	0.02%
CNXC	F	0.02%
CRI	D	0.02%
UAA	C	0.02%
PSTG	D	0.02%
RKT	F	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%
KSS	F	0.02%
IPGP	D	0.02%
QDEL	F	0.02%
LYFT	C	0.02%
LBTYA	B	0.02%
BRKR	D	0.02%
GLOB	B	0.02%
SHC	F	0.02%
AZTA	D	0.02%
LPX	B	0.02%
ADT	C	0.02%
AAP	C	0.02%
RCM	F	0.02%
SAM	C	0.02%
TXG	F	0.01%
PLTK	B	0.01%
CHH	A	0.01%
DJT	C	0.01%
CACC	D	0.01%
SEB	F	0.01%
PATH	C	0.01%
TFSL	A	0.01%
UI	A	0.01%
WOLF	F	0.01%
CWEN	C	0.01%
LSCC	D	0.01%
FIVE	F	0.01%
HCP	B	0.01%
MTN	C	0.01%
CAR	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%
GRAL	C	0.0%
LAZ	B	0.0%
IONS	F	0.0%

IWS Underweight 208 Positions Relative to NZAC

Symbol	Grade	Weight
NVDA	C	-4.67%
AAPL	C	-4.47%
MSFT	F	-4.03%
AMZN	C	-2.38%
META	D	-1.62%
GOOG	C	-1.45%
TSLA	B	-1.32%
AVGO	D	-1.1%
JPM	A	-1.09%
GOOGL	C	-1.03%
LLY	F	-0.94%
UNH	C	-0.77%
V	A	-0.75%
MA	C	-0.65%
JNJ	D	-0.62%
IBM	C	-0.6%
ABBV	D	-0.6%
ORCL	B	-0.59%
HD	A	-0.58%
SHW	A	-0.56%
NFLX	A	-0.49%
MRK	F	-0.47%
ADI	D	-0.46%
BAC	A	-0.44%
CRM	B	-0.42%
NVS	D	-0.41%
CSCO	B	-0.4%
ACN	C	-0.39%
NOW	A	-0.39%
BRK.A	B	-0.39%
SPGI	C	-0.38%
MCD	D	-0.36%
AXP	A	-0.36%
TJX	A	-0.36%
WMT	A	-0.35%
ADBE	C	-0.35%
ABBV	D	-0.34%
EQIX	A	-0.33%
ITW	B	-0.33%
TMO	F	-0.32%
BSX	B	-0.31%
ISRG	A	-0.31%
INTU	C	-0.31%
DIS	B	-0.29%
ETN	A	-0.28%
TXN	C	-0.27%
MSI	B	-0.27%
AMD	F	-0.27%
BLK	C	-0.27%
MS	A	-0.26%
QCOM	F	-0.26%
SYK	C	-0.25%
LOW	D	-0.25%
CMCSA	B	-0.25%
WFC	A	-0.25%
PH	A	-0.25%
BKNG	A	-0.24%
CB	C	-0.24%
BABA	D	-0.24%
BMY	B	-0.24%
MDT	D	-0.23%
PGR	A	-0.22%
MCO	B	-0.22%
VZ	C	-0.21%
AMGN	D	-0.21%
PLD	D	-0.21%
UNP	C	-0.21%
MET	A	-0.21%
MMC	B	-0.2%
ADP	B	-0.2%
SCHW	B	-0.19%
TD	F	-0.19%
PFE	D	-0.19%
PNC	B	-0.19%
DHR	F	-0.19%
BX	A	-0.19%
ABT	B	-0.19%
FI	A	-0.18%
INTC	D	-0.18%
T	A	-0.18%
ORLY	B	-0.18%
UBER	D	-0.17%
SONY	B	-0.17%
ELV	F	-0.17%
APO	B	-0.17%
ZTS	D	-0.16%
KLAC	D	-0.15%
WELL	A	-0.15%
SBUX	A	-0.15%
TRV	B	-0.15%
HDB	C	-0.14%
COF	B	-0.14%
DE	A	-0.14%
VRTX	F	-0.14%
PANW	C	-0.14%
AIG	B	-0.14%
MELI	D	-0.14%
TDG	D	-0.13%
ICE	C	-0.13%
KKR	A	-0.13%
PYPL	B	-0.13%
TMUS	B	-0.13%
AMAT	F	-0.12%
SHOP	B	-0.12%
MRVL	B	-0.12%
USB	A	-0.12%
CME	A	-0.12%
AMT	D	-0.11%
AON	A	-0.11%
EW	C	-0.11%
BDX	F	-0.11%
LI	F	-0.11%
PSA	D	-0.11%
APH	A	-0.11%
INFY	B	-0.11%
NKE	D	-0.11%
AZO	C	-0.1%
WM	A	-0.1%
LRCX	F	-0.1%
REGN	F	-0.1%
EQH	B	-0.1%
DEO	F	-0.1%
FTNT	C	-0.09%
MU	D	-0.09%
ADSK	A	-0.09%
CSX	B	-0.09%
SCCO	F	-0.08%
PDD	F	-0.08%
KDP	D	-0.08%
LULU	C	-0.08%
MUFG	B	-0.08%
NEM	D	-0.08%
UPS	C	-0.07%
PLTR	B	-0.07%
HSBH	B	-0.07%
CMG	B	-0.07%
WIT	A	-0.07%
LIN	D	-0.07%
TCOM	B	-0.06%
ECL	D	-0.06%
GS	A	-0.06%
PCAR	B	-0.06%
ANET	C	-0.06%
GILD	C	-0.06%
AXON	A	-0.06%
IDXX	F	-0.06%
CPAY	A	-0.05%
LYV	A	-0.05%
VRSK	A	-0.05%
ABNB	C	-0.05%
TTD	B	-0.05%
ENPH	F	-0.05%
CEG	D	-0.04%
DXCM	D	-0.04%
NSC	B	-0.04%
CTAS	B	-0.04%
BCS	C	-0.04%
XPEV	C	-0.04%
CPRT	A	-0.04%
BAH	F	-0.03%
WDAY	B	-0.03%
AZN	D	-0.03%
MNST	C	-0.03%
XRX	F	-0.03%
CCEP	C	-0.03%
VEEV	C	-0.03%
CARR	D	-0.03%
ERIE	D	-0.03%
GDDY	A	-0.03%
IT	C	-0.03%
EL	F	-0.03%
BIDU	F	-0.03%
BURL	A	-0.03%
STZ	D	-0.03%
NIO	F	-0.02%
ROL	B	-0.02%
CRWD	B	-0.02%
TT	A	-0.02%
PODD	C	-0.02%
HEI	B	-0.02%
DASH	A	-0.02%
BCH	F	-0.02%
ASAI	F	-0.02%
VRT	B	-0.02%
MAR	B	-0.02%
SNOW	C	-0.02%
ODFL	B	-0.02%
ROP	B	-0.02%
POOL	C	-0.02%
MMM	D	-0.02%
TGT	F	-0.02%
MBAVU	D	-0.01%
SMCI	F	-0.01%
QGEN	D	-0.01%
NXPI	D	-0.01%
SNAP	C	-0.01%
C	A	-0.01%
CLX	B	-0.01%
MRNA	F	-0.01%
NBIX	C	-0.01%
PINS	D	-0.01%
KB	B	-0.01%
QFIN	B	-0.01%
DOCU	A	-0.01%
LYG	F	-0.01%
TEVA	D	-0.01%
NIO	F	-0.0%
WIT	A	-0.0%