PBUS vs. NZAC ETF Comparison

Comparison of Invesco PureBeta MSCI USA ETF (PBUS) to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)

PBUS

Invesco PureBeta MSCI USA ETF

PBUS Description

The investment seeks to track the investment results (before fees and expenses) of the MSCI USA Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The index is designed to measure the performance of the large- and mid-capitalization segments of the U.S. equity market.

Grade (RS Rating)

Last Trade

$59.94

Average Daily Volume

175,980

Number of Holdings ^*

584

* 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	PBUS	NZAC
30 Days	3.61%	0.97%
60 Days	5.14%	0.81%
90 Days	6.91%	2.64%
12 Months	33.43%	25.98%

339 Overlapping Holdings

	Symbol	Grade	Weight in PBUS	Weight in NZAC	Overlap
	A	D	0.07%	0.06%	0.06%
	AAPL	C	6.43%	4.47%	4.47%
	ABBV	D	0.57%	0.34%	0.34%
	ABBV	D	0.57%	0.6%	0.57%
	ABNB	C	0.12%	0.05%	0.05%
	ABT	B	0.39%	0.19%	0.19%
	ACGL	D	0.07%	0.12%	0.07%
	ACM	A	0.03%	0.36%	0.03%
	ACN	C	0.43%	0.39%	0.39%
	ADBE	C	0.43%	0.35%	0.35%
	ADI	D	0.2%	0.46%	0.2%
	ADP	B	0.24%	0.2%	0.2%
	ADSK	A	0.13%	0.09%	0.09%
	AFG	A	0.02%	0.07%	0.02%
	AFL	B	0.11%	0.28%	0.11%
	AIG	B	0.1%	0.14%	0.1%
	AIZ	A	0.02%	0.09%	0.02%
	AJG	B	0.12%	0.07%	0.07%
	ALB	C	0.02%	0.01%	0.01%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	A	0.1%	0.14%	0.1%
	ALLE	D	0.02%	0.09%	0.02%
	ALLY	C	0.02%	0.02%	0.02%
	ALNY	D	0.06%	0.03%	0.03%
	AMAT	F	0.27%	0.12%	0.12%
	AMD	F	0.43%	0.27%	0.27%
	AME	A	0.09%	0.16%	0.09%
	AMGN	D	0.3%	0.21%	0.21%
	AMP	A	0.11%	0.16%	0.11%
	AMT	D	0.18%	0.11%	0.11%
	AMZN	C	3.66%	2.38%	2.38%
	ANET	C	0.2%	0.06%	0.06%
	ANSS	B	0.06%	0.02%	0.02%
	AON	A	0.14%	0.11%	0.11%
	APH	A	0.16%	0.11%	0.11%
	APO	B	0.13%	0.17%	0.13%
	AVB	B	0.06%	0.12%	0.06%
	AVGO	D	1.39%	1.1%	1.1%
	AVTR	F	0.03%	0.03%	0.03%
	AXON	A	0.08%	0.06%	0.06%
	AXP	A	0.32%	0.36%	0.32%
	AZO	C	0.1%	0.1%	0.1%
	BAC	A	0.62%	0.44%	0.44%
	BAH	F	0.04%	0.03%	0.03%
	BAX	D	0.03%	0.02%	0.02%
	BBWI	D	0.01%	0.01%	0.01%
	BDX	F	0.12%	0.11%	0.11%
	BIIB	F	0.04%	0.03%	0.03%
	BIO	D	0.01%	0.01%	0.01%
	BK	A	0.11%	0.13%	0.11%
	BKNG	A	0.33%	0.24%	0.24%
	BLK	C	0.29%	0.27%	0.27%
	BMRN	D	0.02%	0.02%	0.02%
	BMY	B	0.23%	0.24%	0.23%
	BR	A	0.05%	0.08%	0.05%
	BRK.A	B	1.2%	0.39%	0.39%
	BRO	B	0.05%	0.05%	0.05%
	BSX	B	0.26%	0.31%	0.26%
	BURL	A	0.03%	0.03%	0.03%
	BX	A	0.25%	0.19%	0.19%
	BXP	D	0.02%	0.07%	0.02%
	C	A	0.25%	0.01%	0.01%
	CARR	D	0.12%	0.03%	0.03%
	CB	C	0.21%	0.24%	0.21%
	CBOE	B	0.04%	0.03%	0.03%
	CBRE	B	0.08%	0.18%	0.08%
	CCI	D	0.09%	0.07%	0.07%
	CDW	F	0.05%	0.13%	0.05%
	CEG	D	0.14%	0.04%	0.04%
	CG	A	0.02%	0.02%	0.02%
	CHD	B	0.05%	0.1%	0.05%
	CHTR	C	0.07%	0.07%	0.07%
	CINF	A	0.05%	0.07%	0.05%
	CLX	B	0.04%	0.01%	0.01%
	CMCSA	B	0.32%	0.25%	0.25%
	CME	A	0.16%	0.12%	0.12%
	CMG	B	0.16%	0.07%	0.07%
	COF	B	0.13%	0.14%	0.13%
	COIN	C	0.12%	0.04%	0.04%
	CPAY	A	0.05%	0.05%	0.05%
	CPRT	A	0.09%	0.04%	0.04%
	CRM	B	0.61%	0.42%	0.42%
	CRWD	B	0.16%	0.02%	0.02%
	CSCO	B	0.45%	0.4%	0.4%
	CSGP	D	0.06%	0.02%	0.02%
	CSX	B	0.13%	0.09%	0.09%
	CTAS	B	0.15%	0.04%	0.04%
	CTLT	B	0.02%	0.02%	0.02%
	CTSH	B	0.07%	0.08%	0.07%
	DASH	A	0.1%	0.02%	0.02%
	DE	A	0.2%	0.14%	0.14%
	DFS	B	0.08%	0.09%	0.08%
	DGX	A	0.03%	0.02%	0.02%
	DHI	D	0.09%	0.06%	0.06%
	DHR	F	0.3%	0.19%	0.19%
	DIS	B	0.4%	0.29%	0.29%
	DLR	B	0.12%	0.39%	0.12%
	DLTR	F	0.03%	0.02%	0.02%
	DOC	D	0.03%	0.01%	0.01%
	DOCU	A	0.03%	0.01%	0.01%
	DXCM	D	0.06%	0.04%	0.04%
	EA	A	0.08%	0.01%	0.01%
	EBAY	D	0.06%	0.14%	0.06%
	ECL	D	0.12%	0.06%	0.06%
	EFX	F	0.06%	0.03%	0.03%
	EG	C	0.03%	0.03%	0.03%
	EIX	B	0.06%	0.81%	0.06%
	EL	F	0.03%	0.03%	0.03%
	ELV	F	0.18%	0.17%	0.17%
	ENPH	F	0.02%	0.05%	0.02%
	EPAM	C	0.03%	0.01%	0.01%
	EQH	B	0.03%	0.1%	0.03%
	EQIX	A	0.17%	0.33%	0.17%
	EQR	B	0.05%	0.07%	0.05%
	ERIE	D	0.02%	0.03%	0.02%
	ESS	B	0.04%	0.1%	0.04%
	ETN	A	0.28%	0.28%	0.28%
	EW	C	0.08%	0.11%	0.08%
	EXAS	D	0.02%	0.01%	0.01%
	EXR	D	0.07%	0.04%	0.04%
	FAST	B	0.09%	0.17%	0.09%
	FDS	B	0.03%	0.01%	0.01%
	FFIV	B	0.03%	0.18%	0.03%
	FI	A	0.25%	0.18%	0.18%
	FIS	C	0.09%	0.07%	0.07%
	FOX	A	0.01%	0.03%	0.01%
	FOXA	B	0.02%	0.04%	0.02%
	FSLR	F	0.04%	0.16%	0.04%
	FTNT	C	0.12%	0.09%	0.09%
	FTV	C	0.05%	0.09%	0.05%
	GDDY	A	0.05%	0.03%	0.03%
	GILD	C	0.21%	0.06%	0.06%
	GIS	D	0.07%	0.08%	0.07%
	GLW	B	0.07%	0.19%	0.07%
	GOOG	C	1.73%	1.45%	1.45%
	GOOGL	C	1.99%	1.03%	1.03%
	GPN	B	0.06%	0.05%	0.05%
	GRMN	B	0.06%	0.08%	0.06%
	GS	A	0.36%	0.06%	0.06%
	GWW	B	0.1%	0.21%	0.1%
	HBAN	A	0.05%	0.02%	0.02%
	HD	A	0.76%	0.58%	0.58%
	HEI	B	0.02%	0.02%	0.02%
	HEI	B	0.03%	0.02%	0.02%
	HIG	B	0.07%	0.12%	0.07%
	HLT	A	0.12%	0.02%	0.02%
	HOLX	D	0.04%	0.05%	0.04%
	HPE	B	0.05%	0.16%	0.05%
	HSIC	B	0.02%	0.05%	0.02%
	HSY	F	0.05%	0.05%	0.05%
	HUM	C	0.07%	0.06%	0.06%
	IBM	C	0.38%	0.6%	0.38%
	ICE	C	0.17%	0.13%	0.13%
	IDXX	F	0.07%	0.06%	0.06%
	IEX	B	0.03%	0.04%	0.03%
	ILMN	D	0.04%	0.04%	0.04%
	INCY	C	0.02%	0.01%	0.01%
	INTC	D	0.2%	0.18%	0.18%
	INTU	C	0.35%	0.31%	0.31%
	IPG	D	0.02%	0.01%	0.01%
	IQV	D	0.07%	0.1%	0.07%
	IRM	D	0.06%	0.06%	0.06%
	ISRG	A	0.37%	0.31%	0.31%
	IT	C	0.08%	0.03%	0.03%
	ITW	B	0.15%	0.33%	0.15%
	JKHY	D	0.02%	0.01%	0.01%
	JNJ	D	0.71%	0.62%	0.62%
	JNPR	F	0.02%	0.13%	0.02%
	JPM	A	1.33%	1.09%	1.09%
	KDP	D	0.07%	0.08%	0.07%
	KEYS	A	0.06%	0.06%	0.06%
	KKR	A	0.18%	0.13%	0.13%
	KLAC	D	0.16%	0.15%	0.15%
	KVUE	A	0.09%	0.01%	0.01%
	LEN	D	0.08%	0.06%	0.06%
	LH	C	0.04%	0.02%	0.02%
	LIN	D	0.42%	0.07%	0.07%
	LKQ	D	0.02%	0.03%	0.02%
	LLY	F	1.17%	0.94%	0.94%
	LOW	D	0.29%	0.25%	0.25%
	LRCX	F	0.18%	0.1%	0.1%
	LULU	C	0.07%	0.08%	0.07%
	LYV	A	0.04%	0.05%	0.04%
	MA	C	0.82%	0.65%	0.65%
	MAR	B	0.13%	0.02%	0.02%
	MAS	D	0.03%	0.01%	0.01%
	MCD	D	0.4%	0.36%	0.36%
	MCO	B	0.15%	0.22%	0.15%
	MDT	D	0.21%	0.23%	0.21%
	MELI	D	0.17%	0.14%	0.14%
	MET	A	0.1%	0.21%	0.1%
	META	D	2.39%	1.62%	1.62%
	MKC	D	0.04%	0.01%	0.01%
	MKL	A	0.04%	0.07%	0.04%
	MKTX	D	0.02%	0.01%	0.01%
	MMC	B	0.21%	0.2%	0.2%
	MMM	D	0.14%	0.02%	0.02%
	MNST	C	0.08%	0.03%	0.03%
	MOH	F	0.03%	0.02%	0.02%
	MRK	F	0.48%	0.47%	0.47%
	MRNA	F	0.02%	0.01%	0.01%
	MRVL	B	0.15%	0.12%	0.12%
	MS	A	0.31%	0.26%	0.26%
	MSFT	F	5.65%	4.03%	4.03%
	MSI	B	0.16%	0.27%	0.16%
	MSTR	C	0.14%	0.02%	0.02%
	MTB	A	0.07%	0.1%	0.07%
	MTCH	D	0.01%	0.01%	0.01%
	MTD	D	0.05%	0.06%	0.05%
	MU	D	0.21%	0.09%	0.09%
	NBIX	C	0.02%	0.01%	0.01%
	NDAQ	A	0.07%	0.04%	0.04%
	NEM	D	0.1%	0.08%	0.08%
	NFLX	A	0.73%	0.49%	0.49%
	NKE	D	0.17%	0.11%	0.11%
	NOW	A	0.4%	0.39%	0.39%
	NSC	B	0.11%	0.04%	0.04%
	NTAP	C	0.05%	0.06%	0.05%
	NTRS	A	0.04%	0.05%	0.04%
	NVDA	C	6.92%	4.67%	4.67%
	NVR	D	0.05%	0.03%	0.03%
	NXPI	D	0.11%	0.01%	0.01%
	O	D	0.1%	0.07%	0.07%
	ODFL	B	0.08%	0.02%	0.02%
	OMC	C	0.04%	0.03%	0.03%
	ORCL	B	0.61%	0.59%	0.59%
	ORLY	B	0.14%	0.18%	0.14%
	PANW	C	0.24%	0.14%	0.14%
	PAYC	B	0.02%	0.01%	0.01%
	PAYX	C	0.09%	0.08%	0.08%
	PCAR	B	0.11%	0.06%	0.06%
	PFE	D	0.27%	0.19%	0.19%
	PGR	A	0.29%	0.22%	0.22%
	PH	A	0.17%	0.25%	0.17%
	PHM	D	0.05%	0.04%	0.04%
	PINS	D	0.03%	0.01%	0.01%
	PLD	D	0.2%	0.21%	0.2%
	PLTR	B	0.24%	0.07%	0.07%
	PNC	B	0.16%	0.19%	0.16%
	PNR	A	0.03%	0.23%	0.03%
	PODD	C	0.04%	0.02%	0.02%
	POOL	C	0.03%	0.02%	0.02%
	PPG	F	0.06%	0.11%	0.06%
	PRU	A	0.09%	0.15%	0.09%
	PSA	D	0.1%	0.11%	0.1%
	PWR	A	0.09%	0.24%	0.09%
	PYPL	B	0.16%	0.13%	0.13%
	QCOM	F	0.33%	0.26%	0.26%
	REG	B	0.03%	0.08%	0.03%
	REGN	F	0.15%	0.1%	0.1%
	RF	A	0.05%	0.07%	0.05%
	RIVN	F	0.01%	0.01%	0.01%
	RJF	A	0.06%	0.04%	0.04%
	RMD	C	0.07%	0.07%	0.07%
	ROK	B	0.06%	0.08%	0.06%
	ROL	B	0.03%	0.02%	0.02%
	ROP	B	0.11%	0.02%	0.02%
	ROST	C	0.09%	0.09%	0.09%
	RPRX	D	0.02%	0.02%	0.02%
	RS	B	0.04%	0.08%	0.04%
	RVTY	F	0.03%	0.07%	0.03%
	SBAC	D	0.05%	0.03%	0.03%
	SBUX	A	0.21%	0.15%	0.15%
	SCHW	B	0.23%	0.19%	0.19%
	SEIC	B	0.02%	0.02%	0.02%
	SHW	A	0.17%	0.56%	0.17%
	SMCI	F	0.03%	0.01%	0.01%
	SNA	A	0.04%	0.02%	0.02%
	SNAP	C	0.02%	0.01%	0.01%
	SNOW	C	0.08%	0.02%	0.02%
	SPG	B	0.11%	0.15%	0.11%
	SPGI	C	0.31%	0.38%	0.31%
	SQ	B	0.1%	0.02%	0.02%
	SQ	B	0.1%	0.01%	0.01%
	STE	F	0.04%	0.03%	0.03%
	STLD	B	0.04%	0.01%	0.01%
	STT	A	0.06%	0.02%	0.02%
	STZ	D	0.08%	0.03%	0.03%
	SUI	D	0.03%	0.01%	0.01%
	SWKS	F	0.03%	0.01%	0.01%
	SYF	B	0.05%	0.09%	0.05%
	SYK	C	0.26%	0.25%	0.25%
	T	A	0.32%	0.18%	0.18%
	TDG	D	0.14%	0.13%	0.13%
	TDY	B	0.04%	0.1%	0.04%
	TECH	D	0.02%	0.01%	0.01%
	TER	D	0.03%	0.03%	0.03%
	TFX	F	0.02%	0.02%	0.02%
	TGT	F	0.11%	0.02%	0.02%
	TJX	A	0.26%	0.36%	0.26%
	TMO	F	0.38%	0.32%	0.32%
	TMUS	B	0.24%	0.13%	0.13%
	TRMB	B	0.03%	0.07%	0.03%
	TROW	B	0.05%	0.05%	0.05%
	TRU	D	0.04%	0.01%	0.01%
	TRV	B	0.11%	0.15%	0.11%
	TSLA	B	1.89%	1.32%	1.32%
	TT	A	0.18%	0.02%	0.02%
	TTD	B	0.11%	0.05%	0.05%
	TW	A	0.03%	0.02%	0.02%
	TXN	C	0.35%	0.27%	0.27%
	UBER	D	0.25%	0.17%	0.17%
	UHAL	D	0.01%	0.04%	0.01%
	ULTA	F	0.03%	0.05%	0.03%
	UNH	C	1.07%	0.77%	0.77%
	UNP	C	0.27%	0.21%	0.21%
	UPS	C	0.19%	0.07%	0.07%
	URI	B	0.11%	0.05%	0.05%
	USB	A	0.15%	0.12%	0.12%
	V	A	0.93%	0.75%	0.75%
	VEEV	C	0.06%	0.03%	0.03%
	VICI	C	0.06%	0.03%	0.03%
	VLTO	D	0.05%	0.03%	0.03%
	VMC	B	0.07%	0.02%	0.02%
	VRSK	A	0.08%	0.05%	0.05%
	VRSN	F	0.03%	0.01%	0.01%
	VRT	B	0.09%	0.02%	0.02%
	VRTX	F	0.22%	0.14%	0.14%
	VTR	C	0.05%	0.06%	0.05%
	VZ	C	0.34%	0.21%	0.21%
	WAB	B	0.07%	0.08%	0.07%
	WAT	B	0.04%	0.02%	0.02%
	WDAY	B	0.11%	0.03%	0.03%
	WELL	A	0.16%	0.15%	0.15%
	WFC	A	0.49%	0.25%	0.25%
	WM	A	0.17%	0.1%	0.1%
	WMT	A	0.74%	0.35%	0.35%
	WPC	D	0.02%	0.01%	0.01%
	WRB	A	0.04%	0.07%	0.04%
	WST	C	0.04%	0.02%	0.02%
	WTW	B	0.06%	0.07%	0.06%
	WYNN	D	0.02%	0.01%	0.01%
	XYL	D	0.06%	0.36%	0.06%
	YUM	B	0.07%	0.07%	0.07%
	Z	A	0.02%	0.02%	0.02%
	ZBH	C	0.04%	0.05%	0.04%
	ZBRA	B	0.04%	0.02%	0.02%
	ZM	B	0.04%	0.02%	0.02%
	ZTS	D	0.15%	0.16%	0.15%

PBUS Overweight 247 Positions Relative to NZAC

	Symbol	Grade	Weight
	XOM	B	1.04%
	COST	B	0.79%
	PG	A	0.78%
	CVX	A	0.54%
	KO	D	0.5%
	PEP	F	0.42%
	PM	B	0.39%
	GE	D	0.37%
	CAT	B	0.36%
	RTX	C	0.31%
	NEE	D	0.3%
	HON	B	0.28%
	COP	C	0.25%
	LMT	D	0.22%
	BA	F	0.2%
	SO	D	0.19%
	CI	F	0.18%
	GEV	B	0.18%
	MO	A	0.18%
	MDLZ	F	0.17%
	DUK	C	0.17%
	MCK	B	0.16%
	SNPS	B	0.16%
	CDNS	B	0.16%
	EOG	A	0.15%
	CVS	D	0.14%
	WMB	A	0.14%
	APD	A	0.14%
	CL	D	0.14%
	EMR	A	0.14%
	GD	F	0.13%
	HCA	F	0.13%
	OKE	A	0.13%
	APP	B	0.13%
	FDX	B	0.13%
	NOC	D	0.13%
	TFC	A	0.12%
	SLB	C	0.12%
	GM	B	0.12%
	FCX	D	0.12%
	PSX	C	0.11%
	KMI	A	0.11%
	JCI	C	0.11%
	MPC	D	0.11%
	RCL	A	0.11%
	SRE	A	0.11%
	FICO	B	0.11%
	CMI	A	0.1%
	LNG	B	0.1%
	AEP	D	0.1%
	VST	B	0.1%
	BKR	B	0.09%
	PEG	A	0.09%
	HWM	A	0.09%
	MSCI	C	0.09%
	KMB	D	0.09%
	VLO	C	0.09%
	LHX	C	0.09%
	RSG	A	0.09%
	FLUT	A	0.09%
	WCN	A	0.09%
	D	C	0.09%
	EXC	C	0.08%
	TEAM	A	0.08%
	KR	B	0.08%
	OTIS	C	0.08%
	HES	B	0.08%
	CTVA	C	0.08%
	IR	B	0.08%
	F	C	0.08%
	PCG	A	0.08%
	TRGP	B	0.08%
	COR	B	0.08%
	OXY	D	0.07%
	FANG	D	0.07%
	DD	D	0.07%
	MCHP	D	0.07%
	NUE	C	0.07%
	HPQ	B	0.07%
	SYY	B	0.07%
	GEHC	F	0.07%
	MLM	B	0.07%
	DELL	C	0.07%
	DDOG	A	0.07%
	XEL	A	0.07%
	ON	D	0.06%
	TSCO	D	0.06%
	SW	A	0.06%
	NET	B	0.06%
	CAH	B	0.06%
	TPL	A	0.06%
	DOW	F	0.06%
	TTWO	A	0.06%
	WEC	A	0.06%
	FITB	A	0.06%
	CNC	D	0.06%
	ARES	A	0.06%
	ETR	B	0.06%
	HUBS	A	0.06%
	ED	D	0.06%
	LPLA	A	0.05%
	EME	C	0.05%
	RBLX	C	0.05%
	DVN	F	0.05%
	AEE	A	0.05%
	HUBB	B	0.05%
	DTE	C	0.05%
	CCL	B	0.05%
	PPL	B	0.05%
	TYL	B	0.05%
	EQT	B	0.05%
	ADM	D	0.05%
	MPWR	F	0.05%
	DECK	A	0.05%
	AWK	D	0.05%
	DOV	A	0.05%
	HAL	C	0.05%
	KHC	F	0.05%
	MAA	B	0.04%
	ZS	C	0.04%
	WSO	A	0.04%
	LVS	C	0.04%
	BALL	D	0.04%
	HOOD	B	0.04%
	IP	B	0.04%
	DRI	B	0.04%
	DKNG	B	0.04%
	STX	D	0.04%
	NRG	B	0.04%
	PFG	D	0.04%
	CNP	B	0.04%
	CSL	C	0.04%
	CTRA	B	0.04%
	LII	A	0.04%
	INVH	D	0.04%
	CMS	C	0.04%
	WDC	D	0.04%
	MDB	C	0.04%
	BLDR	D	0.04%
	LDOS	C	0.04%
	CFG	B	0.04%
	LYB	F	0.04%
	ES	D	0.04%
	ATO	A	0.04%
	FCNCA	A	0.04%
	K	A	0.04%
	PTC	A	0.04%
	PKG	A	0.04%
	WY	D	0.04%
	IFF	D	0.04%
	WSM	B	0.04%
	FE	C	0.04%
	WBD	C	0.04%
	EXPE	B	0.04%
	AKAM	D	0.03%
	GLPI	C	0.03%
	UDR	B	0.03%
	NDSN	B	0.03%
	APTV	D	0.03%
	JBL	B	0.03%
	DT	C	0.03%
	JBHT	C	0.03%
	ENTG	D	0.03%
	EVRG	A	0.03%
	AMCR	D	0.03%
	GGG	B	0.03%
	UTHR	C	0.03%
	DPZ	C	0.03%
	TOST	B	0.03%
	PSTG	D	0.03%
	FNF	B	0.03%
	VTRS	A	0.03%
	TXT	D	0.03%
	AVY	D	0.03%
	LNT	A	0.03%
	L	A	0.03%
	DG	F	0.03%
	SSNC	B	0.03%
	TWLO	A	0.03%
	ARE	D	0.03%
	MRO	B	0.03%
	CF	B	0.03%
	OC	A	0.03%
	GEN	B	0.03%
	NI	A	0.03%
	EXPD	D	0.03%
	GPC	D	0.03%
	KIM	A	0.03%
	J	F	0.03%
	MANH	D	0.03%
	RPM	A	0.03%
	KEY	B	0.03%
	BBY	D	0.03%
	TSN	B	0.03%
	CE	F	0.02%
	MOS	F	0.02%
	CHRD	D	0.02%
	APA	D	0.02%
	CPB	D	0.02%
	CRBG	B	0.02%
	TTC	D	0.02%
	AOS	F	0.02%
	ROKU	D	0.02%
	DVA	B	0.02%
	MGM	D	0.02%
	HRL	D	0.02%
	KNX	B	0.02%
	CRL	C	0.02%
	AES	F	0.02%
	FBIN	D	0.02%
	SOLV	C	0.02%
	CNH	C	0.02%
	WTRG	B	0.02%
	DAL	C	0.02%
	IOT	A	0.02%
	CCK	C	0.02%
	LW	C	0.02%
	NWSA	B	0.02%
	TAP	C	0.02%
	DKS	C	0.02%
	SJM	D	0.02%
	KMX	B	0.02%
	EMN	D	0.02%
	OKTA	C	0.02%
	UHS	D	0.02%
	DAY	B	0.02%
	AMH	D	0.02%
	HST	C	0.02%
	ELS	C	0.02%
	OVV	B	0.02%
	CHRW	C	0.02%
	BG	F	0.02%
	CPT	B	0.02%
	CAG	D	0.02%
	SWK	D	0.02%
	CELH	F	0.01%
	LUV	C	0.01%
	WLK	D	0.01%
	WBA	F	0.01%
	PARA	C	0.01%
	BEN	C	0.01%
	QRVO	F	0.01%
	H	B	0.01%
	DINO	D	0.01%
	ACI	C	0.01%
	HII	D	0.01%
	BSY	D	0.01%

PBUS Underweight 32 Positions Relative to NZAC

	Symbol	Grade	Weight
	NVS	D	-0.41%
	BABA	D	-0.24%
	TD	F	-0.19%
	SONY	B	-0.17%
	HDB	C	-0.14%
	SHOP	B	-0.12%
	LI	F	-0.11%
	INFY	B	-0.11%
	DEO	F	-0.1%
	SCCO	F	-0.08%
	PDD	F	-0.08%
	MUFG	B	-0.08%
	HSBH	B	-0.07%
	WIT	A	-0.07%
	TCOM	B	-0.06%
	BCS	C	-0.04%
	XPEV	C	-0.04%
	AZN	D	-0.03%
	XRX	F	-0.03%
	CCEP	C	-0.03%
	BIDU	F	-0.03%
	NIO	F	-0.02%
	BCH	F	-0.02%
	ASAI	F	-0.02%
	MBAVU	D	-0.01%
	QGEN	D	-0.01%
	KB	B	-0.01%
	QFIN	B	-0.01%
	LYG	F	-0.01%
	TEVA	D	-0.01%
	NIO	F	-0.0%
	WIT	A	-0.0%

PBUS: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Asset Management Semiconductors 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 Dow Jones Component Electronics Chemical Aerospace Real Estate Investment Trust Telecommunications Medicine Bank Semiconductor Cloud Computing Banking Insurance Products Mining IBD 50

NZAC: Top Represented Industries & Keywords

Industries: Software - Application Business Services Diagnostics & Research Asset Management Drug Manufacturers - Major Diversified Industrials Semiconductors Biotechnology Capital Markets Information Technology Services Internet Content & Information Credit Services Insurance - Property & Casualty Medical Devices Medical Instruments & Supplies Specialty Retail Banks - Global Insurance - Diversified Insurance Brokers Specialty Chemicals

Keywords: S&P 500 Nasdaq 100 Insurance Computing Dow Jones Component Bank Medicine Banking Telecommunications Insurance Products Mobile Devices Investment Bank Electronics Financial Products Real Estate Investment Trust Work From Home Biotechnology Cloud Computing Chemical Semiconductor