IWS vs. QUS ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to SPDR MSCI USA Quality Mix ETF (QUS)

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

$132.00

Average Daily Volume

306,447

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

QUS

SPDR MSCI USA Quality Mix ETF

QUS Description

The investment seeks to track the performance of the MSCI USA Quality Mix A-Series Index. The fund invests at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the equity market performance of large-and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility. It is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI USA Value Weighted Index, the MSCI USA Quality Index, and the MSCI USA Minimum Volatility Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$157.13

Average Daily Volume

16,771

Number of Holdings ^*

579

* may have additional holdings in another (foreign) market

Performance

Period	IWS	QUS
30 Days	2.86%	1.60%
60 Days	4.51%	4.94%
90 Days	9.81%	6.57%
12 Months	28.17%	31.78%

324 Overlapping Holdings

	Symbol	Grade	Weight in IWS	Weight in QUS	Overlap
	A	C	0.46%	0.12%	0.12%
	ACGL	B	0.46%	0.42%	0.42%
	ACI	F	0.09%	0.03%	0.03%
	ACM	B	0.15%	0.01%	0.01%
	ADM	D	0.33%	0.1%	0.1%
	AEE	B	0.26%	0.1%	0.1%
	AES	C	0.15%	0.02%	0.02%
	AFG	C	0.11%	0.15%	0.11%
	AFL	A	0.68%	0.21%	0.21%
	AIZ	B	0.11%	0.11%	0.11%
	AJG	D	0.63%	0.44%	0.44%
	AKAM	D	0.17%	0.17%	0.17%
	ALB	D	0.11%	0.02%	0.02%
	ALGN	D	0.09%	0.01%	0.01%
	ALL	C	0.48%	0.06%	0.06%
	ALLE	B	0.14%	0.04%	0.04%
	ALLY	F	0.09%	0.03%	0.03%
	ALNY	C	0.04%	0.09%	0.04%
	AMCR	B	0.18%	0.02%	0.02%
	AME	C	0.45%	0.02%	0.02%
	AMH	D	0.15%	0.01%	0.01%
	AMP	B	0.05%	0.03%	0.03%
	ANSS	D	0.32%	0.01%	0.01%
	AOS	B	0.11%	0.03%	0.03%
	APA	F	0.1%	0.05%	0.05%
	APTV	D	0.22%	0.03%	0.03%
	ARE	C	0.24%	0.02%	0.02%
	ATO	B	0.23%	0.04%	0.04%
	AVB	C	0.37%	0.02%	0.02%
	AVTR	C	0.21%	0.01%	0.01%
	AVY	C	0.12%	0.01%	0.01%
	AWK	C	0.32%	0.02%	0.02%
	BALL	C	0.23%	0.02%	0.02%
	BAX	C	0.22%	0.03%	0.03%
	BBWI	D	0.07%	0.01%	0.01%
	BBY	A	0.24%	0.1%	0.1%
	BEN	F	0.07%	0.01%	0.01%
	BG	F	0.16%	0.05%	0.05%
	BIIB	F	0.33%	0.03%	0.03%
	BIO	C	0.07%	0.01%	0.01%
	BK	B	0.6%	0.08%	0.08%
	BKR	C	0.41%	0.04%	0.04%
	BLDR	C	0.24%	0.09%	0.09%
	BMRN	F	0.15%	0.09%	0.09%
	BR	C	0.02%	0.03%	0.02%
	BRO	C	0.15%	0.01%	0.01%
	BXP	C	0.14%	0.02%	0.02%
	CAG	B	0.17%	0.02%	0.02%
	CAH	C	0.13%	0.11%	0.11%
	CBOE	C	0.25%	0.3%	0.25%
	CBRE	B	0.42%	0.05%	0.05%
	CCI	C	0.57%	0.03%	0.03%
	CCK	B	0.12%	0.02%	0.02%
	CCL	C	0.21%	0.01%	0.01%
	CDW	D	0.17%	0.25%	0.17%
	CE	D	0.12%	0.02%	0.02%
	CF	B	0.17%	0.03%	0.03%
	CFG	D	0.21%	0.06%	0.06%
	CG	C	0.11%	0.01%	0.01%
	CHD	C	0.29%	0.13%	0.13%
	CHK	C	0.12%	0.03%	0.03%
	CHRD	F	0.1%	0.02%	0.02%
	CHRW	B	0.14%	0.02%	0.02%
	CHTR	D	0.35%	0.08%	0.08%
	CINF	C	0.23%	0.03%	0.03%
	CMI	B	0.48%	0.15%	0.15%
	CMS	B	0.23%	0.09%	0.09%
	CNC	D	0.45%	0.11%	0.11%
	CNH	C	0.11%	0.03%	0.03%
	CNP	C	0.2%	0.02%	0.02%
	COIN	F	0.06%	0.01%	0.01%
	CPB	C	0.11%	0.14%	0.11%
	CPT	C	0.15%	0.01%	0.01%
	CRL	F	0.12%	0.01%	0.01%
	CSGP	D	0.35%	0.01%	0.01%
	CSL	B	0.2%	0.01%	0.01%
	CTLT	B	0.12%	0.01%	0.01%
	CTRA	F	0.2%	0.03%	0.03%
	CTSH	B	0.43%	0.39%	0.39%
	CTVA	B	0.46%	0.17%	0.17%
	DAL	C	0.34%	0.01%	0.01%
	DAY	D	0.09%	0.0%	0.0%
	DD	B	0.39%	0.04%	0.04%
	DFS	C	0.4%	0.06%	0.06%
	DG	F	0.21%	0.03%	0.03%
	DGX	B	0.19%	0.06%	0.06%
	DHI	C	0.64%	0.23%	0.23%
	DINO	F	0.08%	0.03%	0.03%
	DKS	D	0.12%	0.02%	0.02%
	DLR	B	0.58%	0.03%	0.03%
	DLTR	F	0.16%	0.02%	0.02%
	DOC	B	0.17%	0.01%	0.01%
	DOV	B	0.29%	0.02%	0.02%
	DOW	C	0.41%	0.07%	0.07%
	DPZ	D	0.11%	0.06%	0.06%
	DRI	C	0.11%	0.02%	0.02%
	DTE	A	0.29%	0.1%	0.1%
	DVN	F	0.29%	0.05%	0.05%
	EA	D	0.42%	0.27%	0.27%
	EBAY	B	0.36%	0.02%	0.02%
	ED	B	0.4%	0.45%	0.4%
	EFX	C	0.33%	0.02%	0.02%
	EG	B	0.16%	0.19%	0.16%
	EIX	B	0.37%	0.04%	0.04%
	ELS	D	0.15%	0.0%	0.0%
	EME	B	0.14%	0.07%	0.07%
	EMN	B	0.14%	0.02%	0.02%
	EPAM	F	0.12%	0.04%	0.04%
	EQR	C	0.33%	0.02%	0.02%
	EQT	C	0.22%	0.02%	0.02%
	ES	B	0.27%	0.03%	0.03%
	ESS	C	0.22%	0.01%	0.01%
	ETR	A	0.31%	0.04%	0.04%
	EVRG	B	0.15%	0.02%	0.02%
	EXAS	D	0.09%	0.0%	0.0%
	EXC	B	0.46%	0.06%	0.06%
	EXPD	B	0.16%	0.07%	0.07%
	EXR	C	0.43%	0.03%	0.03%
	FANG	F	0.36%	0.23%	0.23%
	FAST	C	0.07%	0.14%	0.07%
	FCNCA	D	0.27%	0.3%	0.27%
	FDS	C	0.13%	0.05%	0.05%
	FE	B	0.29%	0.03%	0.03%
	FFIV	B	0.14%	0.21%	0.14%
	FICO	B	0.08%	0.18%	0.08%
	FIS	C	0.53%	0.03%	0.03%
	FITB	B	0.33%	0.06%	0.06%
	FNF	B	0.18%	0.02%	0.02%
	FOX	B	0.06%	0.01%	0.01%
	FOXA	B	0.1%	0.02%	0.02%
	FSLR	C	0.29%	0.04%	0.04%
	FTV	C	0.3%	0.02%	0.02%
	GEHC	B	0.41%	0.03%	0.03%
	GGG	C	0.16%	0.05%	0.05%
	GIS	B	0.47%	0.3%	0.3%
	GLPI	C	0.15%	0.01%	0.01%
	GLW	B	0.39%	0.14%	0.14%
	GPC	D	0.22%	0.02%	0.02%
	GPN	D	0.32%	0.04%	0.04%
	GRMN	D	0.3%	0.17%	0.17%
	GWW	B	0.07%	0.17%	0.07%
	H	B	0.07%	0.0%	0.0%
	HAL	F	0.29%	0.03%	0.03%
	HBAN	B	0.24%	0.05%	0.05%
	HES	F	0.15%	0.02%	0.02%
	HIG	B	0.38%	0.09%	0.09%
	HII	F	0.12%	0.01%	0.01%
	HLT	B	0.3%	0.01%	0.01%
	HOLX	D	0.21%	0.08%	0.08%
	HOOD	C	0.17%	0.0%	0.0%
	HPE	C	0.28%	0.06%	0.06%
	HPQ	C	0.29%	0.07%	0.07%
	HRL	F	0.1%	0.08%	0.08%
	HSIC	C	0.1%	0.01%	0.01%
	HST	D	0.15%	0.01%	0.01%
	HSY	D	0.28%	0.21%	0.21%
	HUBB	B	0.26%	0.06%	0.06%
	HUM	F	0.42%	0.22%	0.22%
	HWM	B	0.42%	0.01%	0.01%
	IEX	C	0.18%	0.04%	0.04%
	IFF	A	0.3%	0.02%	0.02%
	ILMN	D	0.24%	0.01%	0.01%
	INCY	C	0.11%	0.18%	0.11%
	INVH	D	0.25%	0.01%	0.01%
	IP	C	0.19%	0.03%	0.03%
	IPG	C	0.13%	0.02%	0.02%
	IQV	D	0.44%	0.03%	0.03%
	IR	B	0.44%	0.02%	0.02%
	IRM	C	0.16%	0.01%	0.01%
	J	A	0.21%	0.02%	0.02%
	JBHT	D	0.16%	0.05%	0.05%
	JBL	C	0.13%	0.03%	0.03%
	JKHY	B	0.14%	0.04%	0.04%
	JNPR	A	0.14%	0.18%	0.14%
	K	A	0.24%	0.29%	0.24%
	KEY	C	0.18%	0.04%	0.04%
	KEYS	B	0.3%	0.27%	0.27%
	KIM	C	0.17%	0.02%	0.02%
	KMI	C	0.48%	0.05%	0.05%
	KMX	D	0.13%	0.03%	0.03%
	KNX	C	0.09%	0.04%	0.04%
	KR	B	0.42%	0.3%	0.3%
	KVUE	B	0.5%	0.04%	0.04%
	L	D	0.16%	0.12%	0.12%
	LDOS	A	0.24%	0.02%	0.02%
	LEN	B	0.49%	0.07%	0.07%
	LEN	B	0.02%	0.07%	0.02%
	LHX	C	0.5%	0.04%	0.04%
	LKQ	F	0.12%	0.02%	0.02%
	LNG	D	0.23%	0.05%	0.05%
	LNT	A	0.17%	0.05%	0.05%
	LUV	C	0.2%	0.01%	0.01%
	LW	D	0.07%	0.03%	0.03%
	LYB	D	0.28%	0.05%	0.05%
	MAA	C	0.21%	0.01%	0.01%
	MAS	B	0.2%	0.01%	0.01%
	MCHP	D	0.46%	0.12%	0.12%
	MGM	D	0.1%	0.01%	0.01%
	MKC	C	0.24%	0.01%	0.01%
	MKL	C	0.17%	0.14%	0.14%
	MKTX	D	0.11%	0.03%	0.03%
	MLM	D	0.36%	0.02%	0.02%
	MOH	D	0.09%	0.15%	0.09%
	MOS	F	0.09%	0.03%	0.03%
	MRO	D	0.18%	0.04%	0.04%
	MSCI	C	0.2%	0.01%	0.01%
	MSTR	C	0.24%	0.0%	0.0%
	MTB	C	0.34%	0.07%	0.07%
	MTCH	C	0.11%	0.01%	0.01%
	MTD	C	0.34%	0.01%	0.01%
	NDAQ	C	0.35%	0.02%	0.02%
	NDSN	C	0.16%	0.01%	0.01%
	NI	B	0.17%	0.02%	0.02%
	NRG	B	0.12%	0.02%	0.02%
	NTAP	D	0.16%	0.16%	0.16%
	NTRS	C	0.21%	0.03%	0.03%
	NUE	D	0.4%	0.07%	0.07%
	NVR	B	0.31%	0.12%	0.12%
	NWSA	D	0.11%	0.01%	0.01%
	O	B	0.61%	0.05%	0.05%
	OC	C	0.17%	0.02%	0.02%
	OKE	C	0.62%	0.05%	0.05%
	OKTA	F	0.08%	0.0%	0.0%
	OMC	B	0.22%	0.07%	0.07%
	ON	D	0.34%	0.03%	0.03%
	OTIS	B	0.44%	0.04%	0.04%
	OVV	F	0.12%	0.03%	0.03%
	PARA	D	0.07%	0.03%	0.03%
	PAYC	D	0.04%	0.03%	0.03%
	PAYX	C	0.31%	0.15%	0.15%
	PCG	C	0.48%	0.05%	0.05%
	PEG	B	0.49%	0.04%	0.04%
	PFG	B	0.22%	0.03%	0.03%
	PHM	B	0.33%	0.12%	0.12%
	PKG	B	0.21%	0.08%	0.08%
	PNR	B	0.18%	0.01%	0.01%
	PPG	C	0.33%	0.03%	0.03%
	PPL	A	0.27%	0.02%	0.02%
	PRU	C	0.49%	0.08%	0.08%
	PSTG	F	0.02%	0.0%	0.0%
	PTC	C	0.09%	0.17%	0.09%
	PWR	B	0.33%	0.02%	0.02%
	QRVO	F	0.11%	0.01%	0.01%
	RCL	B	0.3%	0.01%	0.01%
	REG	C	0.15%	0.01%	0.01%
	RF	B	0.24%	0.05%	0.05%
	RIVN	F	0.11%	0.01%	0.01%
	RJF	C	0.27%	0.03%	0.03%
	RMD	C	0.29%	0.1%	0.1%
	ROK	D	0.31%	0.1%	0.1%
	ROKU	D	0.09%	0.0%	0.0%
	ROST	C	0.44%	0.03%	0.03%
	RPM	B	0.14%	0.01%	0.01%
	RPRX	C	0.12%	0.01%	0.01%
	RS	D	0.18%	0.02%	0.02%
	SBAC	C	0.29%	0.01%	0.01%
	SEIC	B	0.08%	0.03%	0.03%
	SJM	C	0.14%	0.02%	0.02%
	SNA	B	0.17%	0.05%	0.05%
	SOLV	D	0.11%	0.06%	0.06%
	SPG	B	0.45%	0.03%	0.03%
	SQ	D	0.25%	0.02%	0.02%
	SSNC	C	0.18%	0.02%	0.02%
	STE	B	0.26%	0.01%	0.01%
	STLD	C	0.2%	0.04%	0.04%
	STT	B	0.3%	0.05%	0.05%
	SUI	C	0.2%	0.01%	0.01%
	SW	B	0.28%	0.03%	0.03%
	SWK	B	0.19%	0.03%	0.03%
	SWKS	F	0.18%	0.06%	0.06%
	SYF	C	0.23%	0.05%	0.05%
	SYY	C	0.16%	0.05%	0.05%
	TAP	D	0.11%	0.02%	0.02%
	TDY	B	0.23%	0.2%	0.2%
	TECH	C	0.14%	0.01%	0.01%
	TER	C	0.02%	0.06%	0.02%
	TFX	B	0.13%	0.01%	0.01%
	TRMB	C	0.16%	0.01%	0.01%
	TROW	C	0.27%	0.09%	0.09%
	TRU	B	0.22%	0.01%	0.01%
	TSN	D	0.19%	0.29%	0.19%
	TTC	F	0.1%	0.03%	0.03%
	TTWO	D	0.29%	0.01%	0.01%
	TW	B	0.09%	0.07%	0.07%
	TWLO	C	0.1%	0.01%	0.01%
	TXT	D	0.19%	0.02%	0.02%
	TYL	C	0.04%	0.01%	0.01%
	UDR	C	0.17%	0.01%	0.01%
	UHAL	B	0.05%	0.01%	0.01%
	UHAL	B	0.0%	0.01%	0.0%
	UHS	C	0.16%	0.02%	0.02%
	ULTA	D	0.03%	0.09%	0.03%
	URI	B	0.45%	0.04%	0.04%
	UTHR	B	0.17%	0.1%	0.1%
	VICI	C	0.39%	0.04%	0.04%
	VLTO	B	0.17%	0.09%	0.09%
	VMC	C	0.28%	0.02%	0.02%
	VRSN	C	0.16%	0.23%	0.16%
	VTR	C	0.28%	0.02%	0.02%
	VTRS	D	0.15%	0.05%	0.05%
	WAB	B	0.35%	0.02%	0.02%
	WAT	B	0.09%	0.06%	0.06%
	WBA	F	0.07%	0.07%	0.07%
	WBD	D	0.23%	0.11%	0.11%
	WDC	C	0.25%	0.02%	0.02%
	WEC	B	0.34%	0.28%	0.28%
	WLK	C	0.05%	0.01%	0.01%
	WMB	C	0.62%	0.12%	0.12%
	WPC	C	0.15%	0.01%	0.01%
	WRB	D	0.19%	0.12%	0.12%
	WSM	C	0.09%	0.07%	0.07%
	WSO	C	0.19%	0.05%	0.05%
	WST	D	0.1%	0.06%	0.06%
	WTRG	D	0.11%	0.01%	0.01%
	WTW	B	0.33%	0.15%	0.15%
	WY	C	0.27%	0.03%	0.03%
	WYNN	C	0.09%	0.0%	0.0%
	XEL	B	0.4%	0.19%	0.19%
	XYL	C	0.37%	0.02%	0.02%
	YUM	B	0.25%	0.18%	0.18%
	Z	C	0.12%	0.01%	0.01%
	ZBH	F	0.25%	0.02%	0.02%
	ZBRA	B	0.17%	0.01%	0.01%
	ZM	C	0.2%	0.01%	0.01%

IWS Overweight 382 Positions Relative to QUS

	Symbol	Grade	Weight
	FERG	D	0.42%
	COO	C	0.24%
	LH	D	0.21%
	UAL	B	0.19%
	THC	C	0.18%
	RVTY	B	0.17%
	TOL	A	0.17%
	IBKR	B	0.16%
	USFD	C	0.16%
	GEN	A	0.16%
	RGA	C	0.16%
	RNR	B	0.15%
	CUBE	C	0.14%
	CVNA	B	0.14%
	CW	B	0.14%
	CLH	C	0.14%
	CASY	D	0.13%
	RRX	C	0.13%
	SCI	C	0.13%
	EWBC	C	0.13%
	COHR	C	0.13%
	NVT	C	0.13%
	FTI	D	0.13%
	BLD	C	0.13%
	ITT	B	0.13%
	PNW	C	0.12%
	FWONK	C	0.12%
	ATR	B	0.12%
	AFRM	D	0.12%
	NLY	B	0.12%
	UNM	B	0.12%
	NTNX	D	0.12%
	FBIN	B	0.12%
	BJ	D	0.12%
	CACI	B	0.12%
	REXR	C	0.12%
	FRT	C	0.11%
	RGLD	C	0.11%
	WAL	B	0.11%
	GL	D	0.11%
	TTEK	C	0.11%
	TPR	A	0.11%
	DOX	C	0.11%
	ARMK	B	0.11%
	OHI	C	0.11%
	PFGC	B	0.11%
	WWD	C	0.11%
	AYI	B	0.1%
	CIEN	B	0.1%
	AA	C	0.1%
	JLL	B	0.1%
	NNN	B	0.1%
	DCI	C	0.1%
	X	F	0.1%
	LAMR	B	0.1%
	NYT	B	0.1%
	FYBR	C	0.1%
	ORI	B	0.1%
	FHN	D	0.1%
	INGR	B	0.1%
	PRI	B	0.1%
	SNX	C	0.1%
	GPK	C	0.1%
	CZR	C	0.1%
	EGP	C	0.1%
	EHC	B	0.1%
	EVR	B	0.1%
	SF	B	0.1%
	BWXT	A	0.09%
	BWA	C	0.09%
	SKX	C	0.09%
	MIDD	C	0.09%
	BERY	B	0.09%
	HLI	C	0.09%
	COKE	C	0.09%
	DTM	C	0.09%
	PNFP	C	0.09%
	WEX	C	0.09%
	AGNC	B	0.09%
	FMC	B	0.09%
	JEF	C	0.09%
	VOYA	B	0.09%
	KBR	D	0.09%
	CHE	C	0.09%
	GWRE	B	0.09%
	ATI	C	0.09%
	GMED	D	0.09%
	BRBR	B	0.09%
	MTZ	C	0.09%
	ALSN	B	0.09%
	FCN	C	0.09%
	FND	C	0.09%
	AXTA	B	0.09%
	AR	C	0.09%
	APG	F	0.09%
	COLD	D	0.09%
	LAD	B	0.09%
	GME	D	0.09%
	CMA	C	0.09%
	OGE	B	0.09%
	MHK	B	0.09%
	WBS	C	0.09%
	BRX	C	0.09%
	TKO	A	0.09%
	RBC	B	0.09%
	CRUS	D	0.08%
	NOV	F	0.08%
	CFR	C	0.08%
	AAL	D	0.08%
	MSA	D	0.08%
	RHI	D	0.08%
	CROX	C	0.08%
	G	C	0.08%
	VNO	B	0.08%
	BFAM	C	0.08%
	RGEN	F	0.08%
	HR	B	0.08%
	JAZZ	D	0.08%
	GNTX	D	0.08%
	SAIC	C	0.08%
	ZION	D	0.08%
	MKSI	F	0.08%
	ARW	B	0.08%
	ELAN	D	0.08%
	ACHC	D	0.08%
	SOFI	D	0.08%
	STAG	D	0.08%
	WTFC	C	0.08%
	PR	F	0.08%
	HRB	C	0.08%
	KEX	C	0.08%
	RRC	D	0.08%
	SSD	C	0.08%
	ONTO	C	0.08%
	CART	C	0.08%
	WCC	C	0.08%
	FR	C	0.08%
	ADC	C	0.08%
	SWN	C	0.08%
	CBSH	D	0.08%
	RL	B	0.08%
	LECO	D	0.08%
	CR	B	0.08%
	ESI	C	0.07%
	MTSI	C	0.07%
	DAR	F	0.07%
	AGCO	D	0.07%
	RLI	B	0.07%
	GXO	D	0.07%
	ESAB	C	0.07%
	AXS	B	0.07%
	OLLI	C	0.07%
	SIRI	C	0.07%
	LEA	D	0.07%
	R	C	0.07%
	IVZ	B	0.07%
	FLS	C	0.07%
	AZPN	B	0.07%
	LFUS	C	0.07%
	BPOP	C	0.07%
	LSTR	D	0.07%
	SNV	D	0.07%
	CGNX	F	0.07%
	MTG	B	0.07%
	FAF	B	0.07%
	STWD	B	0.07%
	OSK	F	0.07%
	VFC	B	0.07%
	PB	D	0.07%
	MAT	D	0.07%
	WMS	D	0.07%
	OLED	D	0.06%
	W	C	0.06%
	CCCS	D	0.06%
	JHG	B	0.06%
	LINE	F	0.06%
	OGN	D	0.06%
	HXL	F	0.06%
	ALK	B	0.06%
	LBRDK	C	0.06%
	UGI	B	0.06%
	FNB	D	0.06%
	ROIV	D	0.06%
	VNT	F	0.06%
	IDA	B	0.06%
	WSC	D	0.06%
	OLN	D	0.06%
	THG	C	0.06%
	THO	C	0.06%
	ST	D	0.06%
	LNC	C	0.06%
	XRAY	D	0.06%
	TKR	C	0.06%
	SON	D	0.06%
	WHR	C	0.06%
	PVH	D	0.06%
	KD	F	0.06%
	COLB	B	0.06%
	MDU	B	0.06%
	NFG	B	0.06%
	OMF	D	0.06%
	WH	B	0.06%
	AMG	C	0.06%
	SN	B	0.06%
	S	D	0.06%
	BC	C	0.06%
	VMI	C	0.06%
	POST	B	0.06%
	MTDR	F	0.06%
	SRCL	B	0.06%
	RITM	D	0.06%
	IAC	C	0.05%
	GAP	F	0.05%
	LITE	B	0.05%
	RH	C	0.05%
	DBX	C	0.05%
	BILL	D	0.05%
	SITE	D	0.05%
	M	F	0.05%
	AGO	D	0.05%
	GNRC	D	0.05%
	DLB	D	0.05%
	SLGN	B	0.05%
	CPRI	D	0.05%
	EEFT	F	0.05%
	WTM	F	0.05%
	FLO	C	0.05%
	PII	D	0.05%
	ASH	F	0.05%
	CUZ	C	0.05%
	AN	C	0.05%
	BYD	C	0.05%
	FRPT	C	0.05%
	PSN	B	0.05%
	OZK	F	0.05%
	DOCS	B	0.05%
	KRC	C	0.05%
	HOG	C	0.05%
	RYN	C	0.05%
	AVT	B	0.05%
	SAIA	D	0.05%
	SLM	C	0.05%
	AL	C	0.05%
	IRDM	C	0.04%
	AMED	D	0.04%
	AM	B	0.04%
	ZG	C	0.04%
	SMG	B	0.04%
	ZI	D	0.04%
	NXST	D	0.04%
	NWS	D	0.04%
	NVST	D	0.04%
	VNOM	D	0.04%
	PK	D	0.04%
	NSA	C	0.04%
	PLNT	C	0.04%
	SPR	D	0.04%
	LBTYK	B	0.04%
	MPW	C	0.04%
	DNB	D	0.04%
	U	D	0.04%
	LBTYA	B	0.04%
	COTY	D	0.04%
	MAN	C	0.04%
	HIW	C	0.04%
	MSGS	B	0.04%
	AMKR	F	0.04%
	GTES	C	0.04%
	NEU	D	0.04%
	EPR	C	0.04%
	KMPR	D	0.04%
	CLF	F	0.04%
	PRGO	F	0.04%
	HUN	C	0.04%
	TPG	C	0.04%
	AWI	B	0.04%
	MSM	D	0.04%
	DXC	D	0.04%
	GFS	F	0.04%
	CIVI	F	0.04%
	BROS	D	0.03%
	JWN	C	0.03%
	EXP	B	0.03%
	ENOV	F	0.03%
	AAP	F	0.03%
	YETI	D	0.03%
	HHH	C	0.03%
	CRI	D	0.03%
	BOKF	C	0.03%
	CWEN	A	0.03%
	QDEL	D	0.03%
	SHC	C	0.03%
	VIRT	C	0.03%
	SPB	B	0.03%
	MASI	C	0.03%
	VAC	D	0.03%
	AGR	C	0.03%
	CC	D	0.03%
	RKT	C	0.03%
	BRKR	D	0.03%
	AZTA	F	0.03%
	BHF	F	0.03%
	COLM	C	0.03%
	SEE	C	0.03%
	ALGM	D	0.03%
	CLVT	D	0.03%
	LOPE	D	0.03%
	CNM	F	0.03%
	WU	C	0.03%
	CXT	F	0.03%
	PAG	D	0.03%
	CNXC	F	0.03%
	FHB	D	0.03%
	PENN	D	0.03%
	NWL	C	0.03%
	TNL	C	0.03%
	LCID	C	0.03%
	LYFT	D	0.02%
	UAA	C	0.02%
	TRIP	F	0.02%
	WEN	C	0.02%
	UA	C	0.02%
	GO	F	0.02%
	PPC	D	0.02%
	INFA	D	0.02%
	LEG	D	0.02%
	REYN	C	0.02%
	MP	C	0.02%
	BIRK	F	0.02%
	FTRE	F	0.02%
	GLOB	D	0.02%
	SAM	D	0.02%
	IPGP	D	0.02%
	LLYVK	B	0.02%
	QS	F	0.02%
	VSTS	D	0.02%
	AZEK	C	0.02%
	LPX	B	0.02%
	PINC	D	0.02%
	KSS	D	0.02%
	HAYW	C	0.02%
	ADT	D	0.02%
	ETSY	D	0.02%
	RCM	C	0.02%
	IONS	F	0.01%
	UI	B	0.01%
	PLTK	C	0.01%
	CHH	B	0.01%
	CACC	F	0.01%
	TFSL	D	0.01%
	LBRDA	C	0.01%
	PATH	D	0.01%
	LLYVA	B	0.01%
	TXG	D	0.01%
	AS	C	0.01%
	PYCR	D	0.01%
	CAR	D	0.01%
	SEB	D	0.01%
	LSCC	D	0.01%
	NCNO	F	0.01%
	WOLF	F	0.01%
	CWEN	A	0.01%
	HCP	A	0.01%
	ALAB	C	0.01%
	FWONA	C	0.01%
	DV	F	0.01%
	FIVE	D	0.01%
	MTN	D	0.01%
	CNA	D	0.01%
	DDS	D	0.01%
	HAS	B	0.01%
	CERT	F	0.01%
	EXEL	C	0.01%
	SNDR	B	0.01%
	SEG	F	0.0%
	LOAR	C	0.0%
	PARAA	D	0.0%
	DJT	F	0.0%
	NFE	F	0.0%
	UWMC	D	0.0%
	LAZ	B	0.0%
	GRAL	F	0.0%

IWS Underweight 257 Positions Relative to QUS

	Symbol	Grade	Weight
	AAPL	C	-3.33%
	MSFT	C	-2.88%
	LLY	D	-2.38%
	META	B	-2.36%
	NVDA	C	-2.31%
	UNH	C	-2.18%
	JNJ	C	-1.78%
	V	C	-1.77%
	MA	B	-1.61%
	COST	C	-1.31%
	CSCO	B	-1.21%
	GOOGL	D	-1.14%
	ACN	C	-1.13%
	PEP	D	-1.12%
	TXN	B	-1.1%
	BRK.A	C	-1.09%
	GOOG	D	-1.06%
	KO	B	-0.94%
	JPM	D	-0.92%
	WMT	B	-0.88%
	VZ	A	-0.86%
	XOM	D	-0.8%
	LMT	A	-0.77%
	ADBE	F	-0.75%
	IBM	B	-0.71%
	MMC	C	-0.7%
	APH	C	-0.67%
	TMUS	B	-0.67%
	T	B	-0.66%
	CB	B	-0.66%
	AMZN	C	-0.65%
	PGR	C	-0.65%
	CAT	B	-0.62%
	DUK	B	-0.62%
	PG	C	-0.61%
	BAC	D	-0.61%
	VRTX	D	-0.6%
	AVGO	C	-0.6%
	QCOM	D	-0.6%
	ABBV	B	-0.59%
	NOC	B	-0.59%
	AMAT	D	-0.57%
	MSI	B	-0.57%
	TJX	C	-0.56%
	MRK	F	-0.56%
	SO	B	-0.55%
	WCN	D	-0.53%
	RSG	D	-0.52%
	ADP	C	-0.51%
	MCD	B	-0.51%
	MCK	F	-0.51%
	CVX	F	-0.5%
	ORCL	B	-0.49%
	WM	D	-0.49%
	ROP	C	-0.48%
	HON	C	-0.47%
	TRV	C	-0.43%
	BLK	B	-0.42%
	GILD	B	-0.41%
	C	C	-0.41%
	ELV	D	-0.4%
	ANET	C	-0.4%
	CMCSA	C	-0.4%
	REGN	D	-0.39%
	PFE	D	-0.39%
	WFC	D	-0.38%
	KLAC	D	-0.37%
	AZO	B	-0.36%
	HD	B	-0.34%
	MPC	F	-0.34%
	LRCX	D	-0.34%
	AMGN	D	-0.33%
	CVS	D	-0.32%
	GDDY	C	-0.3%
	NKE	D	-0.3%
	BMY	C	-0.3%
	MMM	B	-0.29%
	GM	C	-0.28%
	KDP	B	-0.28%
	CDNS	D	-0.28%
	CI	C	-0.27%
	ZTS	B	-0.27%
	SNPS	F	-0.27%
	PANW	D	-0.27%
	GS	B	-0.26%
	SHW	B	-0.26%
	ITW	B	-0.26%
	NOW	C	-0.25%
	TT	B	-0.25%
	BDX	D	-0.25%
	MDLZ	C	-0.25%
	ORLY	B	-0.24%
	NEM	C	-0.24%
	MCO	C	-0.22%
	CME	B	-0.22%
	ERIE	B	-0.22%
	CMG	D	-0.22%
	CTAS	C	-0.22%
	BAH	B	-0.21%
	TSLA	C	-0.21%
	AEP	C	-0.2%
	KHC	C	-0.2%
	UBER	C	-0.19%
	AON	B	-0.19%
	TEL	D	-0.18%
	CL	C	-0.18%
	RTX	B	-0.18%
	COP	F	-0.17%
	ROL	C	-0.17%
	ADI	C	-0.16%
	MS	B	-0.16%
	F	F	-0.16%
	LIN	B	-0.16%
	EOG	D	-0.15%
	VLO	F	-0.15%
	ICE	C	-0.15%
	PSX	F	-0.15%
	WDAY	D	-0.15%
	USB	C	-0.15%
	IDXX	D	-0.15%
	PNC	C	-0.15%
	MDT	B	-0.15%
	PSA	C	-0.15%
	INTC	D	-0.15%
	ABT	C	-0.15%
	D	C	-0.14%
	COF	B	-0.14%
	ADSK	B	-0.14%
	DIS	D	-0.14%
	VRSK	D	-0.14%
	TFC	D	-0.14%
	TMO	B	-0.13%
	IT	C	-0.13%
	ODFL	D	-0.13%
	CPRT	D	-0.13%
	GE	C	-0.12%
	AIG	D	-0.12%
	MNST	D	-0.12%
	NFLX	B	-0.12%
	MPWR	B	-0.12%
	LOW	B	-0.12%
	EW	F	-0.12%
	FDX	D	-0.12%
	PM	C	-0.11%
	DE	A	-0.11%
	UPS	D	-0.11%
	NBIX	F	-0.11%
	CRM	C	-0.1%
	AXP	B	-0.1%
	KMB	C	-0.1%
	DHR	B	-0.1%
	OXY	F	-0.1%
	LULU	D	-0.1%
	NEE	B	-0.1%
	TGT	C	-0.1%
	UNP	D	-0.09%
	MET	B	-0.09%
	TSCO	B	-0.09%
	PLD	C	-0.09%
	DECK	C	-0.08%
	MELI	C	-0.08%
	VEEV	C	-0.08%
	HUBS	D	-0.07%
	MANH	B	-0.07%
	SPGI	C	-0.07%
	PYPL	B	-0.07%
	STX	B	-0.07%
	HCA	B	-0.07%
	AMD	C	-0.07%
	GD	C	-0.07%
	SCHW	D	-0.06%
	SRE	B	-0.06%
	TPL	C	-0.06%
	MO	C	-0.06%
	SBUX	C	-0.06%
	SMCI	F	-0.06%
	MU	D	-0.06%
	ETN	C	-0.05%
	POOL	C	-0.05%
	ENPH	D	-0.05%
	NSC	C	-0.05%
	PCAR	D	-0.05%
	SYK	C	-0.05%
	SLB	F	-0.05%
	CSX	C	-0.05%
	LPLA	D	-0.05%
	CRWD	D	-0.05%
	DELL	C	-0.05%
	PH	B	-0.04%
	INTU	D	-0.04%
	KKR	B	-0.04%
	CARR	B	-0.04%
	BSX	B	-0.04%
	BX	C	-0.04%
	APD	B	-0.04%
	EMR	D	-0.04%
	AMT	C	-0.04%
	FCX	C	-0.04%
	JCI	B	-0.04%
	BA	F	-0.03%
	CEG	C	-0.03%
	NXPI	D	-0.03%
	BKNG	B	-0.03%
	ISRG	C	-0.03%
	WELL	C	-0.03%
	GEV	B	-0.03%
	ABNB	D	-0.02%
	EQH	C	-0.02%
	MRVL	D	-0.02%
	MAR	B	-0.02%
	STZ	C	-0.02%
	CRBG	C	-0.02%
	APO	B	-0.02%
	TRGP	C	-0.02%
	EQIX	B	-0.02%
	MRNA	F	-0.02%
	ECL	B	-0.02%
	VRT	C	-0.01%
	LYV	A	-0.01%
	APP	C	-0.01%
	LVS	C	-0.01%
	ENTG	D	-0.01%
	LII	C	-0.01%
	DASH	B	-0.01%
	ARES	B	-0.01%
	FTNT	B	-0.01%
	DVA	B	-0.01%
	TDG	B	-0.01%
	CLX	C	-0.01%
	CPAY	B	-0.01%
	BURL	C	-0.01%
	EL	D	-0.01%
	EXPE	C	-0.01%
	VST	B	-0.01%
	CELH	F	-0.0%
	TEAM	D	-0.0%
	IOT	C	-0.0%
	ZS	F	-0.0%
	NET	D	-0.0%
	TOST	C	-0.0%
	RBLX	C	-0.0%
	MDB	D	-0.0%
	DKNG	C	-0.0%
	DDOG	D	-0.0%
	BSY	C	-0.0%
	SNAP	D	-0.0%
	DOCU	C	-0.0%
	DT	C	-0.0%
	PODD	C	-0.0%
	SNOW	F	-0.0%
	HEI	C	-0.0%
	AXON	B	-0.0%
	DXCM	F	-0.0%
	PINS	D	-0.0%
	HEI	C	-0.0%
	PLTR	C	-0.0%
	TTD	B	-0.0%

IWS: Top Represented Industries & Keywords

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

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

QUS: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Electronics Dow Jones Component Aerospace Chemical Telecommunications Real Estate Investment Trust Bank Medicine Semiconductor Cloud Computing Banking IBD 50 Insurance Products Mining