QUS vs. BIV ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to Vanguard Intermediate-Term Bond ETF (BIV)

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

$155.89

Average Daily Volume

14,334

Number of Holdings ^*

582

* may have additional holdings in another (foreign) market

BIV

Vanguard Intermediate-Term Bond ETF

BIV Description

The investment seeks the performance of a market-weighted bond index with an intermediate-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Government/Credit Float Adjusted Index. This Index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 5 and 10 years and are publicly issued. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds held in the index.

Grade (RS Rating)

Last Trade

$75.35

Average Daily Volume

1,076,788

Number of Holdings ^*

484

* may have additional holdings in another (foreign) market

Performance

Period	QUS	BIV
30 Days	-0.63%	-3.38%
60 Days	-0.26%	-1.87%
90 Days	5.24%	-1.93%
12 Months	30.26%	8.61%

344 Overlapping Holdings

Symbol	Grade	Weight in QUS	Weight in BIV	Overlap
A	D	0.11%	0.01%	0.01%
AAPL	C	3.33%	0.01%	0.01%
ABBV	A	0.57%	0.05%	0.05%
ABT	A	0.16%	0.01%	0.01%
ACGL	F	0.4%	0.01%	0.01%
ADBE	F	0.69%	0.02%	0.02%
ADI	C	0.15%	0.02%	0.02%
ADM	F	0.09%	0.02%	0.02%
ADP	A	0.52%	0.02%	0.02%
ADSK	B	0.15%	0.01%	0.01%
AEE	B	0.11%	0.01%	0.01%
AEP	D	0.2%	0.01%	0.01%
AES	F	0.02%	0.01%	0.01%
AFG	D	0.15%	0.01%	0.01%
AFL	D	0.22%	0.01%	0.01%
AIG	B	0.12%	0.01%	0.01%
AIZ	D	0.11%	0.01%	0.01%
ALL	C	0.06%	0.01%	0.01%
ALLE	C	0.04%	0.01%	0.01%
AMAT	F	0.52%	0.01%	0.01%
AMCR	D	0.02%	0.01%	0.01%
AMGN	C	0.3%	0.01%	0.01%
AMH	F	0.01%	0.01%	0.01%
AMT	D	0.04%	0.01%	0.01%
AMZN	A	0.63%	0.02%	0.02%
AON	A	0.2%	0.01%	0.01%
APD	B	0.05%	0.01%	0.01%
APH	B	0.71%	0.01%	0.01%
APTV	F	0.03%	0.01%	0.01%
ARE	F	0.02%	0.01%	0.01%
ATO	B	0.04%	0.01%	0.01%
AVB	C	0.02%	0.01%	0.01%
AVGO	B	0.61%	0.01%	0.01%
AVY	D	0.01%	0.01%	0.01%
AWK	D	0.02%	0.01%	0.01%
AXP	A	0.1%	0.05%	0.05%
AZO	D	0.37%	0.01%	0.01%
BA	F	0.03%	0.01%	0.01%
BAC	B	0.64%	0.01%	0.01%
BAX	F	0.03%	0.01%	0.01%
BBY	D	0.1%	0.01%	0.01%
BDX	C	0.26%	0.01%	0.01%
BEN	B	0.01%	0.01%	0.01%
BG	F	0.05%	0.01%	0.01%
BIIB	F	0.03%	0.04%	0.03%
BK	B	0.09%	0.01%	0.01%
BKNG	A	0.03%	0.01%	0.01%
BMY	A	0.33%	0.01%	0.01%
BR	C	0.03%	0.02%	0.02%
BRO	B	0.01%	0.01%	0.01%
BSX	C	0.04%	0.02%	0.02%
BXP	C	0.02%	0.01%	0.01%
C	A	0.41%	0.01%	0.01%
CAG	D	0.02%	0.02%	0.02%
CAH	B	0.11%	0.03%	0.03%
CARR	D	0.03%	0.02%	0.02%
CAT	B	0.64%	0.01%	0.01%
CB	C	0.66%	0.03%	0.03%
CBOE	B	0.31%	0.01%	0.01%
CCI	D	0.03%	0.01%	0.01%
CE	F	0.02%	0.01%	0.01%
CFG	A	0.06%	0.01%	0.01%
CHD	B	0.13%	0.01%	0.01%
CHRW	C	0.02%	0.02%	0.02%
CHTR	B	0.08%	0.02%	0.02%
CI	D	0.24%	0.01%	0.01%
CINF	B	0.03%	0.01%	0.01%
CLX	B	0.01%	0.01%	0.01%
CMCSA	A	0.41%	0.01%	0.01%
CME	B	0.23%	0.01%	0.01%
CMI	B	0.16%	0.01%	0.01%
CMS	C	0.09%	0.01%	0.01%
CNH	A	0.03%	0.01%	0.01%
CNP	C	0.02%	0.01%	0.01%
COF	A	0.14%	0.01%	0.01%
COP	D	0.16%	0.01%	0.01%
COST	D	1.29%	0.01%	0.01%
CPB	D	0.13%	0.02%	0.02%
CPT	D	0.01%	0.01%	0.01%
CRM	A	0.1%	0.02%	0.02%
CSL	C	0.01%	0.01%	0.01%
CSX	F	0.05%	0.01%	0.01%
CTAS	B	0.23%	0.02%	0.02%
CTVA	A	0.18%	0.01%	0.01%
CVS	F	0.31%	0.01%	0.01%
CVX	A	0.51%	0.01%	0.01%
D	B	0.14%	0.01%	0.01%
DAL	A	0.01%	0.02%	0.01%
DD	D	0.04%	0.05%	0.04%
DE	B	0.11%	0.01%	0.01%
DELL	A	0.05%	0.01%	0.01%
DFS	A	0.06%	0.02%	0.02%
DG	F	0.02%	0.01%	0.01%
DGX	B	0.06%	0.01%	0.01%
DHI	D	0.21%	0.01%	0.01%
DHR	D	0.09%	0.01%	0.01%
DIS	C	0.14%	0.01%	0.01%
DLR	A	0.03%	0.02%	0.02%
DLTR	F	0.02%	0.03%	0.02%
DOC	C	0.01%	0.02%	0.01%
DOV	B	0.02%	0.01%	0.01%
DOW	F	0.07%	0.01%	0.01%
DRI	C	0.01%	0.01%	0.01%
DT	B	0.0%	0.11%	0.0%
DTE	C	0.1%	0.01%	0.01%
DUK	C	0.64%	0.01%	0.01%
DVN	F	0.04%	0.01%	0.01%
EA	A	0.28%	0.02%	0.02%
EBAY	D	0.02%	0.02%	0.02%
ECL	C	0.03%	0.01%	0.01%
ED	C	0.46%	0.01%	0.01%
EFX	D	0.02%	0.02%	0.02%
EIX	D	0.04%	0.01%	0.01%
EL	F	0.01%	0.01%	0.01%
EMN	C	0.02%	0.01%	0.01%
EMR	B	0.04%	0.01%	0.01%
EOG	D	0.14%	0.02%	0.02%
EQH	B	0.02%	0.01%	0.01%
EQIX	B	0.02%	0.01%	0.01%
EQR	D	0.02%	0.01%	0.01%
ES	D	0.03%	0.01%	0.01%
ESS	D	0.01%	0.01%	0.01%
ETN	B	0.05%	0.02%	0.02%
ETR	A	0.04%	0.01%	0.01%
EVRG	C	0.02%	0.01%	0.01%
EW	D	0.13%	0.01%	0.01%
EXC	C	0.06%	0.01%	0.01%
EXPE	B	0.02%	0.02%	0.02%
EXR	D	0.02%	0.01%	0.01%
FANG	F	0.23%	0.01%	0.01%
FDX	C	0.11%	0.01%	0.01%
FIS	B	0.04%	0.01%	0.01%
FITB	B	0.06%	0.01%	0.01%
FNF	C	0.02%	0.01%	0.01%
FOXA	B	0.02%	0.02%	0.02%
FTNT	B	0.01%	0.01%	0.01%
GD	C	0.07%	0.02%	0.02%
GE	D	0.11%	0.02%	0.02%
GILD	A	0.43%	0.01%	0.01%
GIS	D	0.28%	0.01%	0.01%
GLPI	D	0.01%	0.01%	0.01%
GM	B	0.3%	0.01%	0.01%
GOOGL	A	1.14%	0.02%	0.02%
GPC	F	0.02%	0.01%	0.01%
GPN	D	0.03%	0.01%	0.01%
GS	B	0.27%	0.01%	0.01%
H	D	0.0%	0.01%	0.0%
HAL	F	0.02%	0.02%	0.02%
HBAN	B	0.05%	0.01%	0.01%
HCA	D	0.07%	0.02%	0.02%
HD	B	0.35%	0.01%	0.01%
HES	B	0.02%	0.01%	0.01%
HIG	D	0.09%	0.02%	0.02%
HII	F	0.01%	0.01%	0.01%
HON	B	0.48%	0.01%	0.01%
HPQ	B	0.07%	0.02%	0.02%
HRL	F	0.08%	0.01%	0.01%
HST	D	0.01%	0.02%	0.01%
HSY	F	0.19%	0.01%	0.01%
HUBB	B	0.07%	0.01%	0.01%
HUM	F	0.18%	0.01%	0.01%
IBM	C	0.72%	0.01%	0.01%
ICE	C	0.15%	0.01%	0.01%
IEX	A	0.04%	0.01%	0.01%
IFF	D	0.02%	0.01%	0.01%
ILMN	A	0.01%	0.01%	0.01%
INTC	C	0.16%	0.01%	0.01%
INTU	D	0.03%	0.01%	0.01%
INVH	F	0.01%	0.02%	0.01%
IPG	F	0.02%	0.01%	0.01%
ITW	A	0.26%	0.01%	0.01%
JBL	A	0.03%	0.01%	0.01%
JCI	B	0.05%	0.01%	0.01%
JNJ	D	1.75%	0.01%	0.01%
JNPR	A	0.18%	0.01%	0.01%
JPM	A	0.98%	0.01%	0.01%
K	A	0.29%	0.01%	0.01%
KDP	F	0.26%	0.01%	0.01%
KEY	B	0.04%	0.01%	0.01%
KEYS	C	0.27%	0.01%	0.01%
KIM	B	0.02%	0.01%	0.01%
KLAC	F	0.32%	0.02%	0.02%
KMB	D	0.1%	0.01%	0.01%
KMI	B	0.06%	0.01%	0.01%
KO	D	0.89%	0.01%	0.01%
KR	A	0.31%	0.01%	0.01%
L	C	0.12%	0.01%	0.01%
LDOS	A	0.02%	0.02%	0.02%
LEN	D	0.07%	0.01%	0.01%
LH	A	0.03%	0.01%	0.01%
LHX	A	0.04%	0.01%	0.01%
LII	B	0.01%	0.01%	0.01%
LIN	C	0.16%	0.01%	0.01%
LLY	F	2.31%	0.01%	0.01%
LMT	D	0.77%	0.02%	0.02%
LNT	C	0.05%	0.01%	0.01%
LOW	B	0.13%	0.01%	0.01%
LRCX	F	0.33%	0.02%	0.02%
LUV	A	0.01%	0.01%	0.01%
LVS	B	0.01%	0.02%	0.01%
LYB	F	0.05%	0.01%	0.01%
MA	B	1.66%	0.01%	0.01%
MAA	D	0.01%	0.01%	0.01%
MAR	B	0.02%	0.01%	0.01%
MAS	D	0.01%	0.01%	0.01%
MCD	C	0.52%	0.02%	0.02%
MCO	D	0.21%	0.01%	0.01%
MDLZ	D	0.24%	0.01%	0.01%
MDT	B	0.15%	0.01%	0.01%
MET	C	0.09%	0.02%	0.02%
MKC	C	0.01%	0.01%	0.01%
MKL	D	0.14%	0.01%	0.01%
MLM	A	0.02%	0.01%	0.01%
MMC	D	0.69%	0.02%	0.02%
MMM	D	0.27%	0.01%	0.01%
MO	A	0.06%	0.01%	0.01%
MOS	B	0.03%	0.02%	0.02%
MPC	F	0.31%	0.01%	0.01%
MRK	F	0.51%	0.02%	0.02%
MRO	C	0.03%	0.02%	0.02%
MRVL	A	0.02%	0.01%	0.01%
MS	B	0.18%	0.04%	0.04%
MSFT	D	2.77%	0.1%	0.1%
MSI	B	0.6%	0.01%	0.01%
MTB	B	0.07%	0.02%	0.02%
MU	C	0.07%	0.02%	0.02%
NDAQ	B	0.02%	0.01%	0.01%
NEE	D	0.1%	0.01%	0.01%
NEM	D	0.22%	0.02%	0.02%
NI	B	0.02%	0.02%	0.02%
NKE	F	0.29%	0.01%	0.01%
NOC	D	0.58%	0.02%	0.02%
NOW	A	0.26%	0.03%	0.03%
NSC	B	0.05%	0.01%	0.01%
NTAP	D	0.16%	0.01%	0.01%
NTRS	B	0.03%	0.01%	0.01%
NUE	F	0.07%	0.01%	0.01%
NVDA	B	2.74%	0.03%	0.03%
NVR	D	0.11%	0.01%	0.01%
NXPI	C	0.03%	0.01%	0.01%
O	D	0.05%	0.01%	0.01%
OC	B	0.02%	0.01%	0.01%
OKE	B	0.05%	0.01%	0.01%
OMC	B	0.07%	0.01%	0.01%
ORCL	B	0.51%	0.01%	0.01%
ORLY	C	0.26%	0.01%	0.01%
OTIS	B	0.04%	0.01%	0.01%
PCG	B	0.06%	0.01%	0.01%
PEG	B	0.04%	0.01%	0.01%
PEP	D	1.1%	0.01%	0.01%
PFE	D	0.38%	0.01%	0.01%
PFG	C	0.04%	0.01%	0.01%
PG	D	0.6%	0.01%	0.01%
PGR	D	0.63%	0.02%	0.02%
PH	A	0.04%	0.02%	0.02%
PHM	D	0.11%	0.01%	0.01%
PKG	A	0.08%	0.01%	0.01%
PLD	F	0.08%	0.01%	0.01%
PM	A	0.12%	0.01%	0.01%
PNC	B	0.15%	0.01%	0.01%
PPG	F	0.03%	0.01%	0.01%
PRU	B	0.08%	0.01%	0.01%
PSA	D	0.14%	0.01%	0.01%
PSX	F	0.14%	0.01%	0.01%
PWR	B	0.02%	0.01%	0.01%
PYPL	B	0.07%	0.02%	0.02%
QCOM	D	0.57%	0.02%	0.02%
QRVO	F	0.01%	0.02%	0.01%
REG	D	0.01%	0.01%	0.01%
REGN	F	0.31%	0.02%	0.02%
RF	B	0.05%	0.01%	0.01%
RJF	A	0.03%	0.03%	0.03%
ROK	B	0.1%	0.01%	0.01%
ROP	D	0.46%	0.01%	0.01%
ROST	F	0.03%	0.01%	0.01%
RPM	B	0.01%	0.01%	0.01%
RPRX	D	0.01%	0.01%	0.01%
RS	C	0.02%	0.01%	0.01%
RSG	D	0.52%	0.01%	0.01%
RTX	C	0.19%	0.01%	0.01%
SBUX	A	0.06%	0.01%	0.01%
SCHW	B	0.06%	0.01%	0.01%
SHW	D	0.25%	0.01%	0.01%
SJM	F	0.02%	0.01%	0.01%
SLB	F	0.05%	0.03%	0.03%
SNA	A	0.06%	0.01%	0.01%
SO	C	0.57%	0.01%	0.01%
SPG	C	0.03%	0.01%	0.01%
SPGI	D	0.06%	0.01%	0.01%
SRE	C	0.06%	0.01%	0.01%
STE	D	0.01%	0.01%	0.01%
STLD	A	0.04%	0.01%	0.01%
STT	A	0.06%	0.01%	0.01%
STZ	F	0.02%	0.01%	0.01%
SUI	D	0.01%	0.01%	0.01%
SWK	D	0.03%	0.01%	0.01%
SWKS	F	0.05%	0.01%	0.01%
SYF	B	0.05%	0.02%	0.02%
SYK	A	0.05%	0.02%	0.02%
SYY	D	0.05%	0.02%	0.02%
T	A	0.68%	0.01%	0.01%
TDY	B	0.21%	0.01%	0.01%
TFC	C	0.15%	0.01%	0.01%
TGT	D	0.1%	0.01%	0.01%
TJX	D	0.53%	0.01%	0.01%
TMO	D	0.11%	0.01%	0.01%
TMUS	B	0.77%	0.04%	0.04%
TRMB	A	0.01%	0.02%	0.01%
TSCO	D	0.09%	0.01%	0.01%
TSN	D	0.27%	0.03%	0.03%
TT	C	0.25%	0.01%	0.01%
TXN	A	1.09%	0.01%	0.01%
TXT	F	0.02%	0.01%	0.01%
UDR	D	0.01%	0.01%	0.01%
UHS	D	0.02%	0.02%	0.02%
UNH	C	2.1%	0.01%	0.01%
UNP	D	0.08%	0.01%	0.01%
UPS	C	0.12%	0.01%	0.01%
USB	B	0.16%	0.01%	0.01%
V	A	1.75%	0.01%	0.01%
VLO	F	0.14%	0.01%	0.01%
VMC	A	0.02%	0.01%	0.01%
VRSK	B	0.14%	0.01%	0.01%
VRSN	F	0.23%	0.02%	0.02%
VTR	B	0.02%	0.01%	0.01%
VTRS	B	0.05%	0.02%	0.02%
VZ	D	0.82%	0.01%	0.01%
WAB	B	0.02%	0.02%	0.02%
WBA	C	0.07%	0.01%	0.01%
WEC	B	0.29%	0.01%	0.01%
WELL	A	0.03%	0.01%	0.01%
WFC	B	0.44%	0.04%	0.04%
WLK	F	0.01%	0.01%	0.01%
WM	A	0.5%	0.01%	0.01%
WMB	B	0.14%	0.01%	0.01%
WMT	A	0.93%	0.01%	0.01%
WPC	F	0.01%	0.01%	0.01%
WTRG	C	0.01%	0.01%	0.01%
WY	D	0.03%	0.02%	0.02%
XEL	A	0.19%	0.01%	0.01%
XOM	C	0.82%	0.01%	0.01%
XYL	F	0.01%	0.01%	0.01%
ZBH	C	0.02%	0.02%	0.02%
ZTS	D	0.26%	0.01%	0.01%

QUS Overweight 238 Positions Relative to BIV

Symbol	Grade	Weight
META	B	2.38%
CSCO	B	1.31%
ACN	C	1.22%
BRK.A	D	1.08%
GOOG	A	1.06%
VRTX	D	0.58%
WCN	D	0.52%
MCK	C	0.51%
TRV	B	0.46%
AJG	D	0.45%
ANET	B	0.41%
CTSH	D	0.38%
COR	A	0.35%
ELV	F	0.31%
FI	A	0.3%
GDDY	A	0.3%
PANW	B	0.3%
FCNCA	C	0.29%
SNPS	B	0.26%
CDNS	C	0.25%
CDW	F	0.24%
BAH	A	0.22%
CMG	B	0.22%
TSLA	A	0.22%
FFIV	A	0.21%
UBER	C	0.2%
KHC	D	0.2%
YUM	D	0.19%
ERIE	D	0.19%
PTC	B	0.18%
INCY	A	0.18%
CL	F	0.18%
FICO	B	0.18%
GWW	A	0.18%
EG	F	0.18%
F	D	0.17%
AKAM	D	0.17%
ROL	D	0.16%
GRMN	A	0.16%
PAYX	B	0.16%
WTW	A	0.15%
MOH	D	0.14%
GLW	A	0.14%
WDAY	F	0.14%
FAST	A	0.14%
CPRT	D	0.13%
IT	C	0.13%
IDXX	F	0.13%
MCHP	F	0.12%
MPWR	F	0.12%
MNST	C	0.12%
GEN	A	0.12%
WRB	C	0.12%
ODFL	A	0.12%
NFLX	B	0.12%
NBIX	C	0.11%
LULU	C	0.11%
RMD	A	0.1%
UTHR	A	0.1%
OXY	F	0.1%
TROW	A	0.09%
BMRN	F	0.09%
CNC	D	0.09%
ALNY	C	0.09%
WBD	C	0.09%
DECK	B	0.08%
MELI	A	0.08%
ULTA	C	0.08%
BLDR	F	0.08%
VEEV	B	0.08%
VLTO	D	0.08%
MANH	D	0.07%
EME	A	0.07%
HUBS	B	0.07%
WST	B	0.07%
TPL	A	0.07%
AMD	F	0.07%
STX	D	0.07%
TW	B	0.07%
HOLX	A	0.07%
CRWD	C	0.06%
HPE	A	0.06%
SOLV	B	0.06%
WSM	F	0.06%
WAT	A	0.06%
LPLA	A	0.06%
EXPD	D	0.06%
DPZ	B	0.06%
SMCI	F	0.06%
FCX	D	0.05%
POOL	B	0.05%
FDS	B	0.05%
LNG	A	0.05%
JBHT	A	0.05%
TER	F	0.05%
CBRE	A	0.05%
APA	F	0.05%
WSO	D	0.05%
PCAR	C	0.05%
AMP	B	0.04%
BKR	A	0.04%
CEG	B	0.04%
KNX	A	0.04%
VICI	D	0.04%
URI	B	0.04%
JKHY	A	0.04%
KVUE	B	0.04%
KKR	B	0.04%
GEV	A	0.04%
GGG	D	0.04%
BX	B	0.04%
FE	D	0.03%
PPL	C	0.03%
APO	B	0.03%
KMX	F	0.03%
PAYC	A	0.03%
PARA	C	0.03%
NRG	B	0.03%
TTC	F	0.03%
ACI	C	0.03%
OVV	F	0.03%
SEIC	A	0.03%
CF	B	0.03%
FSLR	C	0.03%
AOS	F	0.03%
GEHC	D	0.03%
LW	B	0.03%
CTRA	F	0.03%
MKTX	B	0.03%
ENPH	F	0.03%
IP	A	0.03%
ISRG	B	0.03%
EPAM	F	0.03%
RVTY	C	0.02%
SSNC	D	0.02%
CCK	B	0.02%
ABNB	B	0.02%
LKQ	F	0.02%
BALL	F	0.02%
IR	C	0.02%
ALB	C	0.02%
FTV	F	0.02%
MRNA	F	0.02%
WDC	C	0.02%
VST	B	0.02%
J	D	0.02%
AME	A	0.02%
TAP	D	0.02%
CRBG	B	0.02%
IQV	F	0.02%
EQT	C	0.02%
DINO	F	0.02%
SW	A	0.02%
TRGP	A	0.02%
ON	D	0.02%
SQ	B	0.02%
ALLY	F	0.02%
TTD	B	0.01%
PLTR	B	0.01%
Z	D	0.01%
RIVN	F	0.01%
ENTG	D	0.01%
TYL	A	0.01%
BBWI	F	0.01%
BIO	A	0.01%
LYV	A	0.01%
NDSN	D	0.01%
MTD	D	0.01%
ALGN	F	0.01%
MTCH	C	0.01%
VRT	B	0.01%
APP	B	0.01%
ARES	B	0.01%
DASH	A	0.01%
CRL	F	0.01%
SBAC	D	0.01%
CSGP	F	0.01%
ANSS	C	0.01%
CTLT	D	0.01%
UHAL	C	0.01%
COIN	C	0.01%
MSCI	C	0.01%
TWLO	A	0.01%
TFX	F	0.01%
FOX	A	0.01%
DVA	D	0.01%
MGM	D	0.01%
TDG	C	0.01%
RCL	B	0.01%
NWSA	A	0.01%
PNR	B	0.01%
HLT	A	0.01%
TRU	C	0.01%
CCL	A	0.01%
ZBRA	A	0.01%
TTWO	A	0.01%
FBIN	C	0.01%
AVTR	F	0.01%
IRM	B	0.01%
HWM	B	0.01%
BURL	D	0.01%
ZM	A	0.01%
ACM	A	0.01%
HSIC	D	0.01%
CHRD	F	0.01%
CG	B	0.01%
DKS	F	0.01%
CPAY	B	0.01%
CELH	F	0.0%
IOT	C	0.0%
TEAM	A	0.0%
ZS	C	0.0%
NET	B	0.0%
RBLX	A	0.0%
TOST	A	0.0%
MDB	F	0.0%
DKNG	F	0.0%
BSY	F	0.0%
DDOG	B	0.0%
SNAP	B	0.0%
PSTG	D	0.0%
DOCU	A	0.0%
PODD	A	0.0%
MSTR	B	0.0%
DAY	A	0.0%
HEI	D	0.0%
WYNN	B	0.0%
SNOW	C	0.0%
AXON	B	0.0%
ROKU	D	0.0%
DXCM	C	0.0%
HEI	D	0.0%
PINS	C	0.0%
ELS	D	0.0%
TECH	B	0.0%
EXAS	A	0.0%
OKTA	D	0.0%
HOOD	B	0.0%

QUS Underweight 140 Positions Relative to BIV

Symbol	Grade	Weight
WIT	B	-0.35%
KOF	F	-0.03%
BWA	D	-0.03%
BMO	B	-0.03%
ESGR	C	-0.03%
BABA	B	-0.03%
XRAY	F	-0.02%
DXC	D	-0.02%
DOX	B	-0.02%
BC	C	-0.02%
CNO	A	-0.02%
ARCC	B	-0.02%
AAP	F	-0.02%
AMG	A	-0.02%
TEL	A	-0.02%
RL	B	-0.02%
GSK	F	-0.02%
MPLX	A	-0.02%
ET	A	-0.02%
NWG	A	-0.02%
VOD	D	-0.02%
MUFG	A	-0.02%
WTFC	B	-0.01%
SKT	B	-0.01%
REXR	F	-0.01%
SAVE	D	-0.01%
GBDC	C	-0.01%
AXS	C	-0.01%
AVT	B	-0.01%
CMA	A	-0.01%
CBT	B	-0.01%
THG	B	-0.01%
UNM	A	-0.01%
TME	D	-0.01%
NOV	F	-0.01%
OGS	C	-0.01%
KMT	B	-0.01%
KMPR	B	-0.01%
EPRT	C	-0.01%
VNO	B	-0.01%
WU	F	-0.01%
TKR	C	-0.01%
PNW	D	-0.01%
RNR	C	-0.01%
SF	A	-0.01%
PSEC	D	-0.01%
WBS	B	-0.01%
OCSL	D	-0.01%
MCY	B	-0.01%
PDM	C	-0.01%
MP	B	-0.01%
KRG	D	-0.01%
FSK	B	-0.01%
LXP	D	-0.01%
OSK	C	-0.01%
OPI	F	-0.01%
BDN	C	-0.01%
WB	B	-0.01%
ZION	B	-0.01%
VNT	B	-0.01%
R	A	-0.01%
SITC	F	-0.01%
SCS	F	-0.01%
SAFE	F	-0.01%
SON	F	-0.01%
SNX	C	-0.01%
FMC	B	-0.01%
FLS	A	-0.01%
FLO	F	-0.01%
AGR	C	-0.01%
AGO	B	-0.01%
ARW	D	-0.01%
ADC	C	-0.01%
BKU	C	-0.01%
AAT	C	-0.01%
OGE	C	-0.01%
NVT	D	-0.01%
GP	F	-0.01%
HR	D	-0.01%
HP	C	-0.01%
HIW	C	-0.01%
JD	A	-0.01%
GXO	B	-0.01%
EPR	D	-0.01%
FRT	D	-0.01%
RYN	C	-0.01%
SBRA	B	-0.01%
PRE	C	-0.01%
NHI	C	-0.01%
NEU	D	-0.01%
MHK	D	-0.01%
AYI	A	-0.01%
BNS	B	-0.01%
BKH	D	-0.01%
AAL	A	-0.01%
BERY	A	-0.01%
CP	F	-0.01%
TD	F	-0.01%
SWX	C	-0.01%
VOYA	B	-0.01%
KEX	D	-0.01%
HPP	F	-0.01%
KSS	F	-0.01%
KRC	B	-0.01%
FAF	D	-0.01%
DSS	D	-0.01%
NFG	C	-0.01%
LEG	F	-0.01%
LAZ	A	-0.01%
HUN	F	-0.01%
HRB	D	-0.01%
INGR	C	-0.01%
CUBE	D	-0.01%
FLEX	A	-0.01%
AL	B	-0.01%
BIDU	F	-0.01%
VFC	A	-0.01%
NNN	D	-0.01%
LNC	A	-0.01%
LEA	F	-0.01%
GL	C	-0.01%
JEF	B	-0.01%
HAS	D	-0.01%
CNA	D	-0.01%
BRX	C	-0.01%
AN	F	-0.01%
RGA	C	-0.01%
AZN	F	-0.01%
AER	C	-0.01%
BLK	B	-0.01%
BHF	B	-0.01%
EQNR	F	-0.01%
PAA	D	-0.01%
OHI	B	-0.01%
WEST	F	-0.01%
WHR	B	-0.01%
EPD	A	-0.01%
DB	B	-0.01%
UAL	A	-0.01%
HSBC	A	-0.01%