JPSE vs. QVMS ETF Comparison

Comparison of JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) to Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)

JPSE

JPMorgan Diversified Return U.S. Small Cap Equity ETF

JPSE Description

The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the Russell 2000 Diversified Factor Index.

Grade (RS Rating)

Last Trade

$48.98

Average Daily Volume

36,461

Number of Holdings ^*

530

* may have additional holdings in another (foreign) market

QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF

QVMS Description

The investment seeks to track the investment results of the S&P SmallCap 600 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, designed to track the performance of a subset of securities from the S&P SmallCap 600 ® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$28.38

Average Daily Volume

499

Number of Holdings ^*

523

* may have additional holdings in another (foreign) market

Performance

Period	JPSE	QVMS
30 Days	0.16%	2.11%
60 Days	4.50%	6.24%
90 Days	7.42%	8.00%
12 Months	26.28%	29.35%

298 Overlapping Holdings

	Symbol	Grade	Weight in JPSE	Weight in QVMS	Overlap
	AAT	C	0.22%	0.1%	0.1%
	ABCB	A	0.29%	0.36%	0.29%
	ABG	A	0.13%	0.46%	0.13%
	ABM	B	0.21%	0.31%	0.21%
	ACA	B	0.35%	0.41%	0.35%
	ACLS	F	0.11%	0.21%	0.11%
	ADUS	D	0.22%	0.17%	0.17%
	AEIS	B	0.29%	0.35%	0.29%
	AEO	F	0.17%	0.27%	0.17%
	AGYS	A	0.31%	0.2%	0.2%
	AHCO	D	0.06%	0.06%	0.06%
	AIN	C	0.12%	0.21%	0.12%
	AKR	B	0.31%	0.19%	0.19%
	ALEX	B	0.15%	0.1%	0.1%
	ALKS	B	0.17%	0.39%	0.17%
	ALRM	C	0.12%	0.25%	0.12%
	AMR	C	0.22%	0.26%	0.22%
	AMWD	B	0.06%	0.13%	0.06%
	ANDE	C	0.25%	0.13%	0.13%
	ANIP	D	0.18%	0.08%	0.08%
	AOSL	F	0.01%	0.06%	0.01%
	APAM	A	0.16%	0.26%	0.16%
	APLE	B	0.23%	0.27%	0.23%
	APOG	B	0.24%	0.15%	0.15%
	ARCB	C	0.22%	0.21%	0.21%
	ARCH	B	0.25%	0.25%	0.25%
	ARI	D	0.09%	0.09%	0.09%
	AROC	A	0.32%	0.28%	0.28%
	ASIX	B	0.14%	0.06%	0.06%
	ASO	F	0.19%	0.28%	0.19%
	ASTH	F	0.27%	0.13%	0.13%
	ATEN	A	0.16%	0.09%	0.09%
	AUB	A	0.12%	0.31%	0.12%
	AVA	C	0.26%	0.23%	0.23%
	AVNS	F	0.05%	0.07%	0.05%
	AWR	A	0.19%	0.24%	0.19%
	AX	A	0.26%	0.35%	0.26%
	AZZ	B	0.17%	0.21%	0.17%
	B	A	0.06%	0.21%	0.06%
	BANF	A	0.03%	0.14%	0.03%
	BCC	B	0.31%	0.47%	0.31%
	BCPC	B	0.29%	0.47%	0.29%
	BDN	D	0.22%	0.07%	0.07%
	BGS	F	0.14%	0.04%	0.04%
	BHE	B	0.28%	0.14%	0.14%
	BKE	A	0.3%	0.11%	0.11%
	BLMN	F	0.13%	0.1%	0.1%
	BMI	B	0.32%	0.5%	0.32%
	BTU	B	0.25%	0.24%	0.24%
	CABO	B	0.22%	0.16%	0.16%
	CAL	D	0.03%	0.08%	0.03%
	CALM	A	0.35%	0.29%	0.29%
	CALX	F	0.15%	0.14%	0.14%
	CARG	A	0.24%	0.22%	0.22%
	CARS	B	0.05%	0.09%	0.05%
	CASH	A	0.09%	0.16%	0.09%
	CATY	A	0.2%	0.3%	0.2%
	CCOI	B	0.3%	0.25%	0.25%
	CCS	F	0.11%	0.2%	0.11%
	CEIX	A	0.31%	0.28%	0.28%
	CENTA	C	0.15%	0.17%	0.15%
	CENX	A	0.33%	0.09%	0.09%
	CHCO	A	0.06%	0.15%	0.06%
	CHEF	B	0.13%	0.12%	0.12%
	CNMD	C	0.15%	0.17%	0.15%
	CNS	B	0.08%	0.2%	0.08%
	CNXN	D	0.17%	0.06%	0.06%
	COHU	D	0.21%	0.1%	0.1%
	COLL	F	0.25%	0.08%	0.08%
	COOP	B	0.3%	0.51%	0.3%
	CORT	B	0.43%	0.38%	0.38%
	CPK	A	0.28%	0.21%	0.21%
	CPRX	C	0.32%	0.19%	0.19%
	CRC	B	0.19%	0.31%	0.19%
	CRK	A	0.19%	0.1%	0.1%
	CRS	A	0.36%	0.69%	0.36%
	CRVL	B	0.32%	0.25%	0.25%
	CSGS	A	0.15%	0.13%	0.13%
	CTRE	D	0.28%	0.32%	0.28%
	CTS	B	0.24%	0.14%	0.14%
	CVI	D	0.1%	0.05%	0.05%
	CWK	B	0.08%	0.21%	0.08%
	CWT	C	0.19%	0.23%	0.19%
	CXW	B	0.4%	0.19%	0.19%
	DEA	D	0.18%	0.1%	0.1%
	DEI	B	0.26%	0.23%	0.23%
	DFIN	D	0.07%	0.12%	0.07%
	DGII	B	0.24%	0.1%	0.1%
	DIOD	F	0.19%	0.22%	0.19%
	DNOW	A	0.16%	0.13%	0.13%
	DORM	B	0.08%	0.3%	0.08%
	DRH	B	0.21%	0.15%	0.15%
	DXPE	A	0.03%	0.08%	0.03%
	EFC	D	0.23%	0.08%	0.08%
	EIG	A	0.16%	0.1%	0.1%
	ENR	A	0.26%	0.19%	0.19%
	ENVA	A	0.35%	0.24%	0.24%
	EPC	F	0.25%	0.15%	0.15%
	EPRT	C	0.28%	0.43%	0.28%
	ETD	D	0.23%	0.05%	0.05%
	EVTC	C	0.12%	0.17%	0.12%
	EXPI	C	0.13%	0.07%	0.07%
	FBP	A	0.16%	0.28%	0.16%
	FCF	A	0.08%	0.15%	0.08%
	FCPT	C	0.24%	0.18%	0.18%
	FDP	A	0.25%	0.09%	0.09%
	FELE	B	0.3%	0.35%	0.3%
	FFBC	A	0.12%	0.22%	0.12%
	FIZZ	B	0.24%	0.09%	0.09%
	FLGT	F	0.08%	0.03%	0.03%
	FORM	F	0.22%	0.26%	0.22%
	FSS	C	0.25%	0.47%	0.25%
	FUL	F	0.27%	0.34%	0.27%
	FULT	A	0.16%	0.32%	0.16%
	GEO	A	0.5%	0.29%	0.29%
	GFF	A	0.17%	0.23%	0.17%
	GIII	D	0.08%	0.08%	0.08%
	GMS	A	0.26%	0.31%	0.26%
	GNW	A	0.18%	0.26%	0.18%
	GOGO	C	0.14%	0.04%	0.04%
	GPI	A	0.31%	0.46%	0.31%
	GRBK	D	0.21%	0.14%	0.14%
	GTY	C	0.15%	0.12%	0.12%
	HAIN	F	0.1%	0.05%	0.05%
	HASI	F	0.22%	0.23%	0.22%
	HAYN	A	0.17%	0.06%	0.06%
	HCC	B	0.35%	0.31%	0.31%
	HCSG	B	0.05%	0.07%	0.05%
	HI	C	0.06%	0.22%	0.06%
	HLIT	F	0.24%	0.11%	0.11%
	HLX	D	0.25%	0.14%	0.14%
	HMN	A	0.04%	0.14%	0.04%
	HNI	A	0.25%	0.21%	0.21%
	HOPE	A	0.17%	0.13%	0.13%
	HPP	F	0.01%	0.04%	0.01%
	HRMY	D	0.1%	0.08%	0.08%
	HSII	B	0.08%	0.07%	0.07%
	HTH	B	0.13%	0.12%	0.12%
	HUBG	A	0.07%	0.25%	0.07%
	HWKN	C	0.18%	0.2%	0.18%
	IBP	F	0.25%	0.4%	0.25%
	ICHR	C	0.1%	0.09%	0.09%
	IDCC	A	0.37%	0.36%	0.36%
	IIPR	F	0.25%	0.22%	0.22%
	INN	D	0.12%	0.05%	0.05%
	INVA	C	0.28%	0.08%	0.08%
	IOSP	C	0.27%	0.25%	0.25%
	IPAR	C	0.12%	0.2%	0.12%
	ITGR	B	0.29%	0.36%	0.29%
	JBSS	F	0.17%	0.06%	0.06%
	JJSF	C	0.26%	0.21%	0.21%
	JOE	F	0.25%	0.14%	0.14%
	JXN	B	0.38%	0.58%	0.38%
	KALU	C	0.22%	0.11%	0.11%
	KFY	B	0.16%	0.32%	0.16%
	KLG	F	0.2%	0.08%	0.08%
	KLIC	C	0.25%	0.21%	0.21%
	KOP	C	0.2%	0.07%	0.07%
	KTB	A	0.33%	0.35%	0.33%
	KWR	C	0.19%	0.19%	0.19%
	LBRT	F	0.18%	0.22%	0.18%
	LCII	D	0.14%	0.23%	0.14%
	LGND	B	0.34%	0.15%	0.15%
	LPG	F	0.17%	0.08%	0.08%
	LTC	B	0.28%	0.13%	0.13%
	LXP	D	0.19%	0.21%	0.19%
	LZB	A	0.27%	0.14%	0.14%
	MAC	A	0.33%	0.31%	0.31%
	MATV	F	0.16%	0.05%	0.05%
	MATX	B	0.35%	0.46%	0.35%
	MC	B	0.32%	0.43%	0.32%
	MGEE	A	0.23%	0.29%	0.23%
	MGPI	D	0.11%	0.06%	0.06%
	MGY	A	0.27%	0.41%	0.27%
	MHO	D	0.29%	0.34%	0.29%
	MLI	B	0.39%	0.84%	0.39%
	MLKN	F	0.13%	0.15%	0.13%
	MMI	A	0.02%	0.08%	0.02%
	MMSI	A	0.29%	0.44%	0.29%
	MOG.A	B	0.14%	0.5%	0.14%
	MSEX	B	0.09%	0.09%	0.09%
	MTH	D	0.27%	0.51%	0.27%
	MTRN	C	0.26%	0.21%	0.21%
	MTUS	F	0.18%	0.05%	0.05%
	MTX	B	0.27%	0.21%	0.21%
	MYE	F	0.03%	0.04%	0.03%
	MYGN	F	0.06%	0.12%	0.06%
	NAVI	D	0.16%	0.11%	0.11%
	NBTB	A	0.16%	0.2%	0.16%
	NEO	C	0.08%	0.16%	0.08%
	NHC	B	0.07%	0.15%	0.07%
	NMIH	D	0.22%	0.24%	0.22%
	NOG	A	0.15%	0.33%	0.15%
	NPK	B	0.05%	0.03%	0.03%
	NPO	A	0.24%	0.28%	0.24%
	NSIT	F	0.24%	0.35%	0.24%
	NTCT	B	0.16%	0.14%	0.14%
	NWBI	A	0.17%	0.15%	0.15%
	NWN	A	0.24%	0.12%	0.12%
	NX	C	0.05%	0.11%	0.05%
	ODP	F	0.0%	0.07%	0.0%
	OFG	B	0.23%	0.17%	0.17%
	OMI	F	0.1%	0.07%	0.07%
	OTTR	C	0.27%	0.28%	0.27%
	OXM	F	0.1%	0.09%	0.09%
	PARR	D	0.11%	0.09%	0.09%
	PATK	C	0.28%	0.21%	0.21%
	PBH	A	0.29%	0.33%	0.29%
	PCRX	C	0.03%	0.07%	0.03%
	PDCO	F	0.04%	0.13%	0.04%
	PEB	F	0.16%	0.12%	0.12%
	PECO	A	0.26%	0.35%	0.26%
	PHIN	A	0.09%	0.19%	0.09%
	PLAB	D	0.28%	0.14%	0.14%
	PLUS	F	0.25%	0.18%	0.18%
	PLXS	B	0.37%	0.33%	0.33%
	PMT	D	0.16%	0.09%	0.09%
	PRDO	B	0.31%	0.14%	0.14%
	PRG	A	0.12%	0.17%	0.12%
	PRGS	B	0.29%	0.22%	0.22%
	PSMT	D	0.07%	0.18%	0.07%
	PTEN	D	0.13%	0.23%	0.13%
	RC	F	0.02%	0.09%	0.02%
	RDN	C	0.27%	0.42%	0.27%
	RDNT	B	0.23%	0.43%	0.23%
	RES	F	0.1%	0.04%	0.04%
	REX	C	0.19%	0.06%	0.06%
	RGR	F	0.14%	0.05%	0.05%
	RNST	A	0.13%	0.19%	0.13%
	ROIC	A	0.24%	0.17%	0.17%
	RWT	D	0.06%	0.07%	0.06%
	SAFT	A	0.08%	0.1%	0.08%
	SANM	B	0.25%	0.34%	0.25%
	SATS	D	0.31%	0.17%	0.17%
	SCHL	F	0.04%	0.05%	0.04%
	SCL	D	0.2%	0.13%	0.13%
	SCSC	B	0.21%	0.11%	0.11%
	SCVL	F	0.25%	0.05%	0.05%
	SEM	B	0.31%	0.32%	0.31%
	SFNC	B	0.14%	0.25%	0.14%
	SHEN	F	0.12%	0.05%	0.05%
	SHO	D	0.26%	0.16%	0.16%
	SHOO	D	0.19%	0.24%	0.19%
	SIG	B	0.32%	0.35%	0.32%
	SJW	F	0.15%	0.12%	0.12%
	SKT	A	0.31%	0.29%	0.29%
	SKYW	A	0.33%	0.35%	0.33%
	SLG	B	0.33%	0.37%	0.33%
	SLP	F	0.09%	0.04%	0.04%
	SLVM	B	0.34%	0.24%	0.24%
	SM	C	0.26%	0.45%	0.26%
	SMPL	B	0.23%	0.24%	0.23%
	SNEX	A	0.1%	0.21%	0.1%
	SPSC	D	0.28%	0.54%	0.28%
	SPTN	F	0.15%	0.05%	0.05%
	SSTK	F	0.11%	0.06%	0.06%
	STAA	F	0.04%	0.11%	0.04%
	STC	A	0.27%	0.16%	0.16%
	STRA	C	0.19%	0.17%	0.17%
	SUPN	B	0.22%	0.17%	0.17%
	SVC	F	0.06%	0.04%	0.04%
	SWI	B	0.07%	0.05%	0.05%
	SXC	A	0.27%	0.09%	0.09%
	SXI	A	0.25%	0.2%	0.2%
	SXT	C	0.24%	0.26%	0.24%
	TDS	B	0.38%	0.24%	0.24%
	THRM	F	0.08%	0.12%	0.08%
	THS	F	0.16%	0.12%	0.12%
	TILE	A	0.3%	0.12%	0.12%
	TNC	F	0.01%	0.14%	0.01%
	TPH	D	0.23%	0.32%	0.23%
	TRMK	A	0.09%	0.19%	0.09%
	TRST	A	0.07%	0.06%	0.06%
	TTMI	B	0.33%	0.2%	0.2%
	UCTT	F	0.23%	0.13%	0.13%
	UE	B	0.31%	0.21%	0.21%
	UFPT	C	0.29%	0.19%	0.19%
	UNF	A	0.01%	0.23%	0.01%
	UNFI	A	0.18%	0.1%	0.1%
	UPBD	B	0.17%	0.12%	0.12%
	URBN	C	0.17%	0.17%	0.17%
	USNA	C	0.1%	0.04%	0.04%
	USPH	C	0.18%	0.11%	0.11%
	UVV	B	0.2%	0.1%	0.1%
	VIAV	B	0.26%	0.18%	0.18%
	VRTS	A	0.02%	0.13%	0.02%
	WAFD	A	0.21%	0.2%	0.2%
	WDFC	A	0.26%	0.3%	0.26%
	WGO	B	0.17%	0.15%	0.15%
	WHD	B	0.28%	0.36%	0.28%
	WKC	C	0.18%	0.13%	0.13%
	WNC	C	0.09%	0.07%	0.07%
	WOR	F	0.2%	0.1%	0.1%
	WSR	B	0.14%	0.05%	0.05%
	WT	A	0.1%	0.1%	0.1%
	XHR	B	0.19%	0.13%	0.13%
	XRX	F	0.1%	0.08%	0.08%
	YELP	C	0.25%	0.19%	0.19%

JPSE Overweight 232 Positions Relative to QVMS

	Symbol	Grade	Weight
	SMR	B	0.52%
	LUMN	C	0.43%
	STRL	B	0.42%
	SFM	A	0.4%
	IDT	B	0.38%
	AIT	A	0.38%
	CNX	A	0.38%
	TGNA	B	0.35%
	ACLX	C	0.35%
	CMC	B	0.34%
	FN	C	0.34%
	UEC	B	0.34%
	LAUR	A	0.34%
	UFPI	C	0.33%
	ONB	B	0.32%
	CNO	A	0.32%
	CBT	C	0.32%
	QTWO	A	0.32%
	CSWI	B	0.32%
	SBRA	C	0.31%
	TMHC	B	0.31%
	AVNT	A	0.31%
	NOVT	D	0.3%
	TPB	A	0.3%
	CDP	C	0.3%
	WTS	A	0.29%
	ESRT	D	0.29%
	OGS	A	0.29%
	KRG	B	0.29%
	CVLT	B	0.29%
	NMRK	B	0.29%
	RHP	B	0.28%
	MMS	D	0.28%
	ENSG	D	0.28%
	KBH	D	0.28%
	CWST	A	0.28%
	UBSI	A	0.28%
	PDM	D	0.27%
	POR	D	0.27%
	HQY	A	0.27%
	PRMW	C	0.27%
	GSAT	B	0.27%
	EXTR	B	0.27%
	BKH	A	0.27%
	NJR	A	0.27%
	ALE	A	0.27%
	HLNE	A	0.27%
	BNL	D	0.26%
	ANET	C	0.26%
	SR	A	0.26%
	NWE	C	0.26%
	NHI	D	0.26%
	PFSI	D	0.26%
	CRAI	B	0.25%
	RYI	B	0.25%
	GATX	A	0.25%
	WK	B	0.24%
	SWX	A	0.24%
	PI	D	0.24%
	BDC	B	0.24%
	LNTH	F	0.24%
	TRNO	D	0.24%
	PCH	D	0.24%
	WTTR	A	0.24%
	ESNT	D	0.24%
	INFN	C	0.24%
	DHT	D	0.24%
	HOMB	A	0.23%
	SWBI	D	0.23%
	QLYS	C	0.23%
	IRT	A	0.23%
	CDE	D	0.23%
	LANC	D	0.23%
	NGVT	B	0.23%
	NTB	B	0.22%
	UTZ	D	0.22%
	RMBS	C	0.22%
	CHX	C	0.22%
	ECVT	C	0.22%
	POWI	D	0.21%
	ORA	B	0.21%
	ESGR	B	0.21%
	RLJ	C	0.21%
	AMPH	F	0.21%
	CLFD	F	0.2%
	SGRY	F	0.2%
	GPOR	A	0.2%
	DBRG	D	0.2%
	HLF	C	0.2%
	STNG	F	0.2%
	HL	D	0.2%
	LILAK	F	0.2%
	HAE	A	0.2%
	NTGR	A	0.19%
	TNET	F	0.19%
	SCS	A	0.19%
	OPCH	F	0.19%
	RDFN	D	0.19%
	IBOC	A	0.19%
	IMKTA	C	0.19%
	INSW	F	0.19%
	ATKR	C	0.19%
	VITL	F	0.19%
	GEF	A	0.18%
	MUR	F	0.18%
	EGHT	C	0.18%
	OEC	C	0.18%
	EQC	A	0.18%
	VSH	F	0.18%
	TROX	F	0.18%
	DVAX	C	0.18%
	LXU	C	0.18%
	CLW	F	0.17%
	LADR	A	0.17%
	HWC	A	0.17%
	DOLE	D	0.17%
	RYAM	B	0.17%
	ASGN	D	0.17%
	EAF	B	0.17%
	MED	D	0.17%
	HE	D	0.17%
	CMRE	B	0.16%
	OUT	C	0.16%
	KNTK	A	0.16%
	PBF	D	0.16%
	WMK	B	0.16%
	MGRC	B	0.16%
	ACRE	B	0.15%
	VCTR	B	0.15%
	CSTM	F	0.15%
	YOU	D	0.15%
	AMSC	C	0.15%
	WSBC	A	0.14%
	HVT	F	0.13%
	EE	A	0.13%
	COMM	D	0.13%
	ZEUS	C	0.12%
	ENS	D	0.12%
	IVT	B	0.12%
	ACT	C	0.12%
	IGT	F	0.12%
	EXPO	D	0.12%
	FUBO	F	0.12%
	ACCO	B	0.12%
	METC	C	0.12%
	BZH	B	0.11%
	OMCL	C	0.11%
	RDUS	C	0.11%
	HOV	F	0.11%
	VREX	C	0.11%
	NSP	F	0.11%
	ASC	F	0.11%
	UMBF	A	0.11%
	PBI	C	0.11%
	SD	F	0.1%
	OCFC	A	0.1%
	MRC	B	0.1%
	GNK	C	0.1%
	PRM	C	0.09%
	AGM	A	0.09%
	OSUR	F	0.09%
	IPI	B	0.09%
	PNTG	D	0.09%
	EGY	F	0.09%
	CMCO	C	0.09%
	PGRE	C	0.09%
	CSTL	C	0.09%
	RUN	F	0.09%
	CNSL	A	0.09%
	MOV	C	0.09%
	BXC	B	0.09%
	BLKB	D	0.09%
	ARCT	F	0.08%
	UNIT	B	0.07%
	BSIG	A	0.07%
	NUS	C	0.07%
	SRCE	A	0.07%
	BRY	F	0.07%
	CHCT	C	0.06%
	RBCAA	A	0.06%
	MWA	A	0.06%
	CTBI	A	0.06%
	USAP	B	0.06%
	CWCO	C	0.06%
	ZUMZ	D	0.06%
	FLNG	D	0.06%
	FRME	A	0.06%
	ATEX	F	0.05%
	SYNA	C	0.05%
	MITK	C	0.05%
	NAT	F	0.05%
	GTN	F	0.05%
	ANF	C	0.05%
	AVNW	F	0.05%
	PLL	C	0.05%
	MEI	F	0.05%
	ZYXI	D	0.05%
	KRO	D	0.05%
	BUSE	A	0.05%
	GRWG	F	0.04%
	TH	C	0.04%
	CCRN	F	0.04%
	NR	D	0.04%
	VRNT	D	0.04%
	WOW	C	0.04%
	TRS	D	0.03%
	AIV	C	0.03%
	VNDA	C	0.03%
	OSPN	B	0.03%
	THFF	A	0.03%
	IRWD	D	0.03%
	CWH	B	0.03%
	MXL	C	0.03%
	LFMD	C	0.03%
	CSV	B	0.03%
	NATR	B	0.03%
	AAOI	A	0.02%
	CCSI	B	0.02%
	GIC	F	0.02%
	RGP	F	0.02%
	SRDX	C	0.02%
	AVD	C	0.02%
	CIX	B	0.02%
	LWLG	D	0.02%
	TG	C	0.02%
	STHO	F	0.01%
	TRTX	B	0.01%
	BH	A	0.01%
	TBI	F	0.01%
	BOOM	F	0.01%
	ANIK	D	0.01%
	RBBN	B	0.0%

JPSE Underweight 225 Positions Relative to QVMS

	Symbol	Grade	Weight
	CMA	A	-0.71%
	RHI	B	-0.59%
	GKOS	B	-0.56%
	ATI	D	-0.55%
	VFC	B	-0.53%
	AWI	A	-0.53%
	LNC	A	-0.5%
	AVAV	C	-0.48%
	ACIW	B	-0.47%
	ALK	A	-0.46%
	MARA	B	-0.45%
	PIPR	A	-0.42%
	ITRI	B	-0.42%
	SEE	B	-0.42%
	AL	A	-0.42%
	EAT	A	-0.4%
	DY	C	-0.39%
	SFBS	A	-0.38%
	AGO	A	-0.37%
	GTES	B	-0.35%
	SHAK	B	-0.35%
	KRYS	D	-0.33%
	OGN	F	-0.33%
	GVA	A	-0.33%
	FTDR	B	-0.33%
	RUSHA	B	-0.32%
	LRN	A	-0.32%
	BGC	B	-0.32%
	REZI	A	-0.31%
	UCB	A	-0.31%
	CBU	A	-0.3%
	JBT	B	-0.3%
	VRRM	D	-0.3%
	WD	D	-0.29%
	WSFS	A	-0.29%
	DXC	C	-0.29%
	BOOT	C	-0.28%
	SITM	B	-0.28%
	PJT	A	-0.28%
	CVCO	A	-0.28%
	ESE	A	-0.28%
	FHB	A	-0.28%
	HP	C	-0.27%
	RXO	C	-0.27%
	STEP	A	-0.27%
	HIW	D	-0.26%
	ATGE	B	-0.26%
	BRC	C	-0.26%
	ICUI	D	-0.26%
	IAC	D	-0.26%
	BFH	A	-0.26%
	CVBF	A	-0.25%
	TDW	F	-0.25%
	INDB	A	-0.25%
	TRN	A	-0.25%
	CNK	A	-0.25%
	PENN	B	-0.25%
	NWL	B	-0.25%
	BKU	A	-0.25%
	OII	B	-0.25%
	GSHD	A	-0.24%
	TBBK	A	-0.24%
	BXMT	D	-0.24%
	VSCO	A	-0.24%
	ENV	B	-0.24%
	BL	B	-0.24%
	CWEN	D	-0.24%
	BOH	A	-0.24%
	PRK	A	-0.23%
	PFS	A	-0.23%
	VCEL	A	-0.23%
	VIRT	A	-0.23%
	AAP	D	-0.22%
	POWL	C	-0.22%
	ABR	C	-0.22%
	PPBI	A	-0.22%
	PAYO	A	-0.21%
	EPAC	B	-0.21%
	MYRG	B	-0.21%
	PLMR	A	-0.21%
	HBI	A	-0.21%
	SBCF	A	-0.2%
	WERN	B	-0.2%
	VSTO	A	-0.2%
	BANR	A	-0.2%
	PINC	B	-0.19%
	PRVA	B	-0.19%
	FL	F	-0.19%
	OSIS	A	-0.19%
	KMT	B	-0.18%
	KAR	A	-0.18%
	TFIN	A	-0.18%
	MPW	F	-0.18%
	IBTX	A	-0.18%
	CAKE	A	-0.18%
	JBLU	C	-0.17%
	GBX	A	-0.17%
	LGIH	F	-0.17%
	AIR	B	-0.17%
	MRCY	B	-0.17%
	MCY	A	-0.17%
	PTGX	D	-0.17%
	ROCK	C	-0.17%
	KSS	F	-0.16%
	LMAT	A	-0.16%
	GO	C	-0.16%
	ALG	B	-0.16%
	HAYW	A	-0.16%
	FBK	A	-0.16%
	OI	C	-0.16%
	TALO	C	-0.15%
	RAMP	C	-0.15%
	TRUP	A	-0.15%
	NBHC	A	-0.15%
	FBNC	A	-0.15%
	FTRE	D	-0.15%
	LKFN	A	-0.15%
	VECO	F	-0.14%
	VSTS	F	-0.14%
	KN	B	-0.14%
	WWW	A	-0.14%
	IART	C	-0.14%
	SONO	C	-0.14%
	ROG	D	-0.14%
	CUBI	B	-0.13%
	VBTX	A	-0.13%
	STBA	A	-0.13%
	TRIP	D	-0.13%
	WABC	A	-0.12%
	GNL	D	-0.11%
	SPNT	A	-0.11%
	LNN	B	-0.11%
	ELME	D	-0.11%
	SBH	A	-0.11%
	WS	B	-0.11%
	JBGS	D	-0.1%
	VICR	B	-0.1%
	MODG	F	-0.1%
	DAN	F	-0.1%
	BHLB	A	-0.1%
	SNDR	B	-0.09%
	AMN	F	-0.09%
	CBRL	C	-0.09%
	ARLO	D	-0.09%
	BRKL	A	-0.09%
	AMSF	A	-0.09%
	AORT	B	-0.09%
	XNCR	B	-0.09%
	PFBC	A	-0.09%
	NVEE	F	-0.09%
	MD	B	-0.09%
	DCOM	A	-0.09%
	CERT	F	-0.09%
	PLAY	C	-0.09%
	PRLB	B	-0.08%
	MRTN	C	-0.08%
	TMP	A	-0.08%
	VVI	A	-0.08%
	PRAA	C	-0.08%
	VTOL	B	-0.08%
	VTLE	C	-0.08%
	NXRT	A	-0.08%
	SBSI	B	-0.08%
	CLB	C	-0.08%
	CSR	A	-0.08%
	CXM	C	-0.08%
	FBRT	C	-0.08%
	DLX	A	-0.08%
	MCRI	A	-0.08%
	QNST	C	-0.08%
	SAH	A	-0.08%
	ALGT	A	-0.08%
	CPF	A	-0.07%
	BLFS	D	-0.07%
	EYE	C	-0.07%
	CFFN	A	-0.07%
	BJRI	A	-0.07%
	EGBN	A	-0.07%
	PRA	A	-0.07%
	ASTE	B	-0.07%
	MNRO	B	-0.07%
	HFWA	A	-0.07%
	XPEL	B	-0.07%
	UTL	C	-0.07%
	GDEN	B	-0.06%
	AHH	D	-0.06%
	NBR	D	-0.06%
	NABL	F	-0.06%
	MCW	B	-0.06%
	HSTM	B	-0.06%
	MATW	C	-0.06%
	HAFC	A	-0.06%
	GPRE	F	-0.06%
	AXL	C	-0.06%
	HCI	B	-0.06%
	RCUS	F	-0.06%
	HTZ	C	-0.05%
	VSAT	F	-0.05%
	CEVA	B	-0.05%
	HZO	F	-0.05%
	CTKB	C	-0.05%
	SMP	C	-0.05%
	KREF	D	-0.05%
	IIIN	C	-0.05%
	NVRI	F	-0.05%
	EZPW	A	-0.05%
	PUMP	F	-0.05%
	RGNX	F	-0.04%
	KELYA	F	-0.04%
	GDOT	C	-0.04%
	GES	F	-0.04%
	PAHC	A	-0.04%
	BFS	C	-0.04%
	UHT	D	-0.04%
	TR	A	-0.04%
	UFCS	A	-0.04%
	LQDT	A	-0.04%
	SNCY	B	-0.04%
	HTLD	B	-0.04%
	MLAB	F	-0.04%
	AMBC	C	-0.04%
	CRSR	C	-0.03%
	TWI	F	-0.03%
	WRLD	D	-0.03%
	THRY	F	-0.03%

JPSE: Top Represented Industries & Keywords

Industries: Banks - Regional - US REIT - Diversified Specialty Chemicals Software - Application Diversified Industrials Telecom Services Oil & Gas E&P Packaged Foods Biotechnology Communication Equipment REIT - Hotel & Motel REIT - Retail Asset Management Electronic Components Oil & Gas Equipment & Services REIT - Office Diagnostics & Research Residential Construction Shipping & Ports Coal

Keywords: Real Estate Investment Trust Bank Banking Natural Gas Chemical Telecommunications Medicine Mining Computing Deposit Products Mortgage Loan Aerospace Clothing Semiconductor Broadband Real Estate Loans Retail Store Steel Alloys Building Materials

QVMS: Top Represented Industries & Keywords

Industries: Banks - Regional - US REIT - Diversified Biotechnology Diversified Industrials Oil & Gas Equipment & Services Packaged Foods REIT - Retail Specialty Chemicals Insurance - Property & Casualty Asset Management Auto Parts Oil & Gas E&P REIT - Hotel & Motel Software - Application Specialty Retail Building Materials Communication Equipment Credit Services Electronic Components Medical Instruments & Supplies

Keywords: Bank Banking Real Estate Investment Trust Deposit Products Medicine Real Estate Loans Clothing Computing Aerospace Chemical Insurance Commercial Bank Commercial Banking Mining Mortgage Loan Retail Store Semiconductor Transport Fashion Construction