QVML vs. BBUS ETF Comparison

Comparison of Invesco S&P 500 QVM Multi-factor ETF (QVML) to JPMorgan BetaBuilders U.S. Equity ETF (BBUS)

QVML

Invesco S&P 500 QVM Multi-factor ETF

QVML Description

The investment seeks to track the investment results of the S&P 500 ® Quality, Value & Momentum Top 90% Multi- Factor Index (the “underlying index”). The fund generally 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, which is designed to track the performance of a subset of securities from the S&P 500 ® 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

$35.16

Average Daily Volume

1,434

Number of Holdings ^*

447

* may have additional holdings in another (foreign) market

BBUS

JPMorgan BetaBuilders U.S. Equity ETF

BBUS Description

The investment seeks investment results that closely correspond, before fees and expenses, to the performance of the Bloomberg Barclays Short-Term U.S. Aggregate Bond Index. The index measures the performance of U.S. dollar denominated investment grade taxable bonds with remaining effective maturities between one and five years. The fund will invest at least 80% of its assets (net assets, plus the amount of borrowing for investment purposes) in securities included in the underlying index.

Grade (RS Rating)

Last Trade

$107.85

Average Daily Volume

114,622

Number of Holdings ^*

544

* may have additional holdings in another (foreign) market

Performance

Period	QVML	BBUS
30 Days	2.51%	3.35%
60 Days	4.26%	4.87%
90 Days	5.72%	6.62%
12 Months	32.76%	33.27%

426 Overlapping Holdings

	Symbol	Grade	Weight in QVML	Weight in BBUS	Overlap
	A	D	0.08%	0.07%	0.07%
	AAPL	C	7.12%	6.36%	6.36%
	ABBV	D	0.64%	0.57%	0.57%
	ABNB	C	0.13%	0.11%	0.11%
	ABT	B	0.41%	0.39%	0.39%
	ACGL	D	0.08%	0.07%	0.07%
	ACN	C	0.47%	0.43%	0.43%
	ADBE	C	0.49%	0.43%	0.43%
	ADI	D	0.23%	0.2%	0.2%
	ADM	D	0.06%	0.05%	0.05%
	ADP	B	0.26%	0.24%	0.24%
	ADSK	A	0.14%	0.13%	0.13%
	AEE	A	0.05%	0.05%	0.05%
	AEP	D	0.1%	0.1%	0.1%
	AFL	B	0.12%	0.11%	0.11%
	AIG	B	0.11%	0.09%	0.09%
	AJG	B	0.13%	0.12%	0.12%
	AKAM	D	0.03%	0.03%	0.03%
	ALGN	D	0.03%	0.03%	0.03%
	ALL	A	0.11%	0.1%	0.1%
	ALLE	D	0.03%	0.02%	0.02%
	AMAT	F	0.34%	0.27%	0.27%
	AMCR	D	0.03%	0.03%	0.03%
	AMD	F	0.47%	0.43%	0.43%
	AME	A	0.1%	0.09%	0.09%
	AMP	A	0.12%	0.11%	0.11%
	AMZN	C	3.94%	3.73%	3.73%
	ANET	C	0.21%	0.19%	0.19%
	ANSS	B	0.06%	0.06%	0.06%
	AON	A	0.17%	0.16%	0.16%
	APA	D	0.02%	0.02%	0.02%
	APH	A	0.2%	0.16%	0.16%
	APTV	D	0.03%	0.02%	0.02%
	ARE	D	0.04%	0.03%	0.03%
	ATO	A	0.04%	0.04%	0.04%
	AVB	B	0.07%	0.06%	0.06%
	AVGO	D	1.61%	1.44%	1.44%
	AVY	D	0.03%	0.03%	0.03%
	AWK	D	0.05%	0.05%	0.05%
	AXON	A	0.09%	0.08%	0.08%
	AXP	A	0.35%	0.32%	0.32%
	AZO	C	0.12%	0.1%	0.1%
	BAC	A	0.69%	0.6%	0.6%
	BALL	D	0.04%	0.04%	0.04%
	BAX	D	0.03%	0.03%	0.03%
	BBY	D	0.04%	0.03%	0.03%
	BDX	F	0.14%	0.13%	0.13%
	BEN	C	0.01%	0.01%	0.01%
	BG	F	0.03%	0.02%	0.02%
	BK	A	0.12%	0.11%	0.11%
	BKNG	A	0.36%	0.32%	0.32%
	BKR	B	0.1%	0.09%	0.09%
	BLDR	D	0.05%	0.04%	0.04%
	BLK	C	0.32%	0.29%	0.29%
	BR	A	0.06%	0.05%	0.05%
	BRK.A	B	1.87%	1.64%	1.64%
	BRO	B	0.06%	0.05%	0.05%
	BSX	B	0.27%	0.26%	0.26%
	BX	A	0.27%	0.26%	0.26%
	BXP	D	0.02%	0.02%	0.02%
	C	A	0.3%	0.25%	0.25%
	CAG	D	0.03%	0.03%	0.03%
	CAH	B	0.06%	0.06%	0.06%
	CARR	D	0.13%	0.12%	0.12%
	CAT	B	0.42%	0.36%	0.36%
	CB	C	0.25%	0.21%	0.21%
	CBRE	B	0.08%	0.08%	0.08%
	CCL	B	0.05%	0.05%	0.05%
	CDNS	B	0.18%	0.16%	0.16%
	CDW	F	0.05%	0.05%	0.05%
	CE	F	0.02%	0.02%	0.02%
	CEG	D	0.16%	0.14%	0.14%
	CF	B	0.04%	0.03%	0.03%
	CFG	B	0.05%	0.04%	0.04%
	CHD	B	0.05%	0.05%	0.05%
	CHTR	C	0.09%	0.07%	0.07%
	CI	F	0.2%	0.17%	0.17%
	CINF	A	0.05%	0.05%	0.05%
	CL	D	0.16%	0.15%	0.15%
	CMCSA	B	0.37%	0.32%	0.32%
	CME	A	0.17%	0.16%	0.16%
	CMG	B	0.17%	0.16%	0.16%
	CMI	A	0.11%	0.1%	0.1%
	CMS	C	0.04%	0.04%	0.04%
	CNC	D	0.07%	0.06%	0.06%
	CNP	B	0.04%	0.04%	0.04%
	COF	B	0.16%	0.13%	0.13%
	COP	C	0.31%	0.26%	0.26%
	COR	B	0.09%	0.08%	0.08%
	COST	B	0.85%	0.8%	0.8%
	CPAY	A	0.06%	0.05%	0.05%
	CPB	D	0.02%	0.02%	0.02%
	CPRT	A	0.11%	0.09%	0.09%
	CPT	B	0.03%	0.02%	0.02%
	CRL	C	0.02%	0.02%	0.02%
	CRM	B	0.69%	0.59%	0.59%
	CRWD	B	0.18%	0.16%	0.16%
	CSCO	B	0.51%	0.45%	0.45%
	CSGP	D	0.06%	0.06%	0.06%
	CSX	B	0.15%	0.13%	0.13%
	CTAS	B	0.15%	0.15%	0.15%
	CTRA	B	0.04%	0.04%	0.04%
	CTSH	B	0.09%	0.08%	0.08%
	CTVA	C	0.09%	0.08%	0.08%
	CVS	D	0.15%	0.14%	0.14%
	CVX	A	0.63%	0.53%	0.53%
	D	C	0.1%	0.09%	0.09%
	DAL	C	0.08%	0.08%	0.08%
	DAY	B	0.03%	0.02%	0.02%
	DD	D	0.08%	0.07%	0.07%
	DE	A	0.21%	0.2%	0.2%
	DECK	A	0.06%	0.05%	0.05%
	DFS	B	0.1%	0.08%	0.08%
	DG	F	0.04%	0.03%	0.03%
	DGX	A	0.04%	0.03%	0.03%
	DHI	D	0.1%	0.09%	0.09%
	DHR	F	0.33%	0.29%	0.29%
	DIS	B	0.43%	0.4%	0.4%
	DLR	B	0.12%	0.12%	0.12%
	DLTR	F	0.04%	0.03%	0.03%
	DOC	D	0.03%	0.03%	0.03%
	DOV	A	0.06%	0.05%	0.05%
	DOW	F	0.07%	0.06%	0.06%
	DRI	B	0.04%	0.04%	0.04%
	DTE	C	0.05%	0.05%	0.05%
	DUK	C	0.18%	0.17%	0.17%
	DVN	F	0.06%	0.05%	0.05%
	EA	A	0.09%	0.08%	0.08%
	EBAY	D	0.06%	0.06%	0.06%
	ECL	D	0.13%	0.12%	0.12%
	ED	D	0.07%	0.07%	0.07%
	EFX	F	0.07%	0.06%	0.06%
	EG	C	0.04%	0.03%	0.03%
	EIX	B	0.07%	0.06%	0.06%
	ELV	F	0.2%	0.18%	0.18%
	EMN	D	0.03%	0.02%	0.02%
	EMR	A	0.16%	0.14%	0.14%
	EOG	A	0.18%	0.15%	0.15%
	EPAM	C	0.03%	0.03%	0.03%
	EQR	B	0.05%	0.05%	0.05%
	EQT	B	0.05%	0.05%	0.05%
	ES	D	0.05%	0.04%	0.04%
	ESS	B	0.04%	0.04%	0.04%
	ETN	A	0.31%	0.28%	0.28%
	ETR	B	0.07%	0.06%	0.06%
	EVRG	A	0.03%	0.03%	0.03%
	EW	C	0.09%	0.08%	0.08%
	EXC	C	0.08%	0.07%	0.07%
	EXPD	D	0.04%	0.03%	0.03%
	EXPE	B	0.05%	0.04%	0.04%
	EXR	D	0.07%	0.07%	0.07%
	F	C	0.1%	0.08%	0.08%
	FANG	D	0.08%	0.06%	0.06%
	FAST	B	0.1%	0.09%	0.09%
	FCX	D	0.14%	0.12%	0.12%
	FDS	B	0.04%	0.03%	0.03%
	FDX	B	0.15%	0.13%	0.13%
	FE	C	0.04%	0.04%	0.04%
	FFIV	B	0.03%	0.03%	0.03%
	FI	A	0.26%	0.24%	0.24%
	FIS	C	0.1%	0.09%	0.09%
	FITB	A	0.07%	0.06%	0.06%
	FOXA	B	0.04%	0.02%	0.02%
	FSLR	F	0.04%	0.04%	0.04%
	FTNT	C	0.13%	0.12%	0.12%
	FTV	C	0.06%	0.05%	0.05%
	GD	F	0.14%	0.13%	0.13%
	GDDY	A	0.06%	0.05%	0.05%
	GE	D	0.43%	0.37%	0.37%
	GEHC	F	0.07%	0.06%	0.06%
	GEN	B	0.04%	0.03%	0.03%
	GEV	B	0.18%	0.18%	0.18%
	GILD	C	0.24%	0.21%	0.21%
	GIS	D	0.08%	0.07%	0.07%
	GLW	B	0.08%	0.07%	0.07%
	GM	B	0.15%	0.12%	0.12%
	GOOG	C	4.33%	1.79%	1.79%
	GPC	D	0.04%	0.03%	0.03%
	GPN	B	0.06%	0.06%	0.06%
	GRMN	B	0.07%	0.06%	0.06%
	GS	A	0.43%	0.36%	0.36%
	GWW	B	0.11%	0.1%	0.1%
	HAL	C	0.06%	0.05%	0.05%
	HBAN	A	0.06%	0.05%	0.05%
	HCA	F	0.14%	0.12%	0.12%
	HD	A	0.84%	0.77%	0.77%
	HES	B	0.09%	0.08%	0.08%
	HIG	B	0.07%	0.07%	0.07%
	HII	D	0.02%	0.01%	0.01%
	HOLX	D	0.04%	0.04%	0.04%
	HON	B	0.32%	0.29%	0.29%
	HPE	B	0.07%	0.05%	0.05%
	HPQ	B	0.07%	0.07%	0.07%
	HRL	D	0.02%	0.02%	0.02%
	HST	C	0.03%	0.02%	0.02%
	HSY	F	0.05%	0.05%	0.05%
	HUBB	B	0.05%	0.05%	0.05%
	HUM	C	0.08%	0.07%	0.07%
	HWM	A	0.09%	0.09%	0.09%
	IBM	C	0.39%	0.38%	0.38%
	ICE	C	0.19%	0.17%	0.17%
	IDXX	F	0.07%	0.07%	0.07%
	IEX	B	0.04%	0.03%	0.03%
	IFF	D	0.05%	0.04%	0.04%
	INCY	C	0.03%	0.02%	0.02%
	INTC	D	0.25%	0.2%	0.2%
	INTU	C	0.4%	0.35%	0.35%
	INVH	D	0.04%	0.04%	0.04%
	IP	B	0.04%	0.04%	0.04%
	IPG	D	0.02%	0.02%	0.02%
	IQV	D	0.08%	0.07%	0.07%
	IR	B	0.09%	0.08%	0.08%
	ISRG	A	0.4%	0.37%	0.37%
	IT	C	0.09%	0.08%	0.08%
	ITW	B	0.16%	0.15%	0.15%
	J	F	0.04%	0.03%	0.03%
	JBHT	C	0.03%	0.03%	0.03%
	JCI	C	0.12%	0.11%	0.11%
	JKHY	D	0.03%	0.02%	0.02%
	JNJ	D	0.77%	0.71%	0.71%
	JNPR	F	0.03%	0.02%	0.02%
	JPM	A	1.59%	1.33%	1.33%
	K	A	0.05%	0.04%	0.04%
	KDP	D	0.07%	0.07%	0.07%
	KEY	B	0.04%	0.03%	0.03%
	KEYS	A	0.06%	0.06%	0.06%
	KHC	F	0.05%	0.05%	0.05%
	KIM	A	0.03%	0.03%	0.03%
	KKR	A	0.22%	0.2%	0.2%
	KLAC	D	0.2%	0.16%	0.16%
	KMB	D	0.09%	0.09%	0.09%
	KMI	A	0.11%	0.11%	0.11%
	KMX	B	0.03%	0.02%	0.02%
	KO	D	0.52%	0.48%	0.48%
	KR	B	0.09%	0.08%	0.08%
	KVUE	A	0.09%	0.08%	0.08%
	L	A	0.03%	0.03%	0.03%
	LDOS	C	0.05%	0.04%	0.04%
	LEN	D	0.09%	0.08%	0.08%
	LEN	D	0.09%	0.0%	0.0%
	LH	C	0.05%	0.04%	0.04%
	LHX	C	0.1%	0.09%	0.09%
	LIN	D	0.47%	0.42%	0.42%
	LKQ	D	0.02%	0.02%	0.02%
	LLY	F	1.38%	1.23%	1.23%
	LMT	D	0.24%	0.22%	0.22%
	LNT	A	0.03%	0.03%	0.03%
	LRCX	F	0.22%	0.18%	0.18%
	LULU	C	0.08%	0.07%	0.07%
	LUV	C	0.04%	0.04%	0.04%
	LW	C	0.02%	0.02%	0.02%
	LYB	F	0.05%	0.04%	0.04%
	MA	C	0.89%	0.81%	0.81%
	MAA	B	0.04%	0.04%	0.04%
	MAS	D	0.04%	0.03%	0.03%
	MCHP	D	0.08%	0.07%	0.07%
	MCK	B	0.18%	0.16%	0.16%
	MCO	B	0.16%	0.15%	0.15%
	MDLZ	F	0.18%	0.17%	0.17%
	MDT	D	0.24%	0.21%	0.21%
	MET	A	0.11%	0.1%	0.1%
	META	D	2.71%	2.4%	2.4%
	MGM	D	0.02%	0.02%	0.02%
	MKC	D	0.04%	0.04%	0.04%
	MLM	B	0.08%	0.07%	0.07%
	MMC	B	0.23%	0.21%	0.21%
	MMM	D	0.16%	0.14%	0.14%
	MNST	C	0.08%	0.07%	0.07%
	MO	A	0.2%	0.19%	0.19%
	MOH	F	0.04%	0.03%	0.03%
	MOS	F	0.02%	0.02%	0.02%
	MPC	D	0.13%	0.11%	0.11%
	MPWR	F	0.06%	0.05%	0.05%
	MRK	F	0.54%	0.48%	0.48%
	MRNA	F	0.03%	0.02%	0.02%
	MRO	B	0.04%	0.03%	0.03%
	MS	A	0.37%	0.32%	0.32%
	MSFT	F	6.58%	5.99%	5.99%
	MSI	B	0.18%	0.16%	0.16%
	MTB	A	0.08%	0.07%	0.07%
	MU	D	0.25%	0.21%	0.21%
	NDAQ	A	0.07%	0.06%	0.06%
	NEE	D	0.31%	0.31%	0.31%
	NFLX	A	0.78%	0.73%	0.73%
	NI	A	0.03%	0.03%	0.03%
	NKE	D	0.2%	0.17%	0.17%
	NOC	D	0.15%	0.14%	0.14%
	NOW	A	0.44%	0.41%	0.41%
	NRG	B	0.04%	0.04%	0.04%
	NSC	B	0.13%	0.11%	0.11%
	NTAP	C	0.05%	0.05%	0.05%
	NTRS	A	0.05%	0.04%	0.04%
	NUE	C	0.08%	0.07%	0.07%
	NVDA	C	7.76%	6.71%	6.71%
	NVR	D	0.06%	0.05%	0.05%
	NWSA	B	0.03%	0.02%	0.02%
	NXPI	D	0.13%	0.11%	0.11%
	O	D	0.1%	0.1%	0.1%
	ODFL	B	0.09%	0.08%	0.08%
	OKE	A	0.14%	0.13%	0.13%
	OMC	C	0.04%	0.04%	0.04%
	ON	D	0.07%	0.06%	0.06%
	OXY	D	0.08%	0.06%	0.06%
	PANW	C	0.28%	0.25%	0.25%
	PAYC	B	0.02%	0.02%	0.02%
	PAYX	C	0.1%	0.09%	0.09%
	PCAR	B	0.13%	0.11%	0.11%
	PCG	A	0.09%	0.08%	0.08%
	PEG	A	0.09%	0.09%	0.09%
	PEP	F	0.47%	0.42%	0.42%
	PFG	D	0.04%	0.04%	0.04%
	PG	A	0.82%	0.78%	0.78%
	PGR	A	0.32%	0.29%	0.29%
	PH	A	0.19%	0.17%	0.17%
	PHM	D	0.06%	0.05%	0.05%
	PKG	A	0.05%	0.04%	0.04%
	PLD	D	0.22%	0.21%	0.21%
	PM	B	0.41%	0.39%	0.39%
	PNC	B	0.18%	0.16%	0.16%
	PNR	A	0.04%	0.03%	0.03%
	POOL	C	0.03%	0.03%	0.03%
	PPG	F	0.06%	0.06%	0.06%
	PPL	B	0.05%	0.05%	0.05%
	PRU	A	0.1%	0.09%	0.09%
	PSA	D	0.11%	0.1%	0.1%
	PSX	C	0.13%	0.11%	0.11%
	PTC	A	0.05%	0.04%	0.04%
	PWR	A	0.1%	0.09%	0.09%
	PYPL	B	0.2%	0.17%	0.17%
	QCOM	F	0.41%	0.33%	0.33%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.12%	0.11%	0.11%
	REG	B	0.03%	0.02%	0.02%
	REGN	F	0.18%	0.15%	0.15%
	RF	A	0.05%	0.05%	0.05%
	RJF	A	0.06%	0.06%	0.06%
	RMD	C	0.07%	0.07%	0.07%
	ROK	B	0.07%	0.06%	0.06%
	ROL	B	0.03%	0.03%	0.03%
	ROP	B	0.13%	0.11%	0.11%
	ROST	C	0.1%	0.09%	0.09%
	RSG	A	0.09%	0.08%	0.08%
	RTX	C	0.34%	0.31%	0.31%
	RVTY	F	0.03%	0.03%	0.03%
	SCHW	B	0.26%	0.22%	0.22%
	SHW	A	0.19%	0.17%	0.17%
	SLB	C	0.14%	0.12%	0.12%
	SMCI	F	0.02%	0.02%	0.02%
	SNA	A	0.04%	0.04%	0.04%
	SNPS	B	0.19%	0.16%	0.16%
	SO	D	0.19%	0.19%	0.19%
	SPG	B	0.13%	0.11%	0.11%
	SPGI	C	0.34%	0.31%	0.31%
	SRE	A	0.12%	0.11%	0.11%
	STE	F	0.05%	0.04%	0.04%
	STLD	B	0.05%	0.04%	0.04%
	STT	A	0.06%	0.06%	0.06%
	STZ	D	0.08%	0.08%	0.08%
	SW	A	0.06%	0.05%	0.05%
	SWK	D	0.03%	0.03%	0.03%
	SWKS	F	0.03%	0.03%	0.03%
	SYF	B	0.06%	0.05%	0.05%
	SYK	C	0.27%	0.27%	0.27%
	SYY	B	0.08%	0.07%	0.07%
	T	A	0.31%	0.32%	0.31%
	TAP	C	0.02%	0.02%	0.02%
	TDY	B	0.05%	0.04%	0.04%
	TER	D	0.04%	0.03%	0.03%
	TFC	A	0.14%	0.12%	0.12%
	TFX	F	0.02%	0.02%	0.02%
	TGT	F	0.16%	0.11%	0.11%
	TJX	A	0.28%	0.26%	0.26%
	TMO	F	0.43%	0.38%	0.38%
	TMUS	B	0.26%	0.22%	0.22%
	TRGP	B	0.09%	0.09%	0.09%
	TROW	B	0.06%	0.05%	0.05%
	TRV	B	0.12%	0.11%	0.11%
	TSCO	D	0.06%	0.06%	0.06%
	TSN	B	0.04%	0.03%	0.03%
	TT	A	0.2%	0.18%	0.18%
	TTWO	A	0.06%	0.06%	0.06%
	TXN	C	0.42%	0.35%	0.35%
	TXT	D	0.04%	0.03%	0.03%
	TYL	B	0.06%	0.05%	0.05%
	UAL	A	0.06%	0.06%	0.06%
	UBER	D	0.33%	0.27%	0.27%
	UDR	B	0.03%	0.03%	0.03%
	UHS	D	0.03%	0.02%	0.02%
	ULTA	F	0.04%	0.03%	0.03%
	UNH	C	1.15%	1.07%	1.07%
	UNP	C	0.31%	0.28%	0.28%
	UPS	C	0.2%	0.19%	0.19%
	URI	B	0.13%	0.11%	0.11%
	USB	A	0.17%	0.15%	0.15%
	V	A	0.99%	1.0%	0.99%
	VICI	C	0.07%	0.06%	0.06%
	VLO	C	0.11%	0.09%	0.09%
	VLTO	D	0.05%	0.05%	0.05%
	VMC	B	0.08%	0.07%	0.07%
	VRSK	A	0.09%	0.08%	0.08%
	VRTX	F	0.27%	0.23%	0.23%
	VST	B	0.1%	0.1%	0.1%
	VTR	C	0.05%	0.05%	0.05%
	VTRS	A	0.03%	0.03%	0.03%
	VZ	C	0.34%	0.34%	0.34%
	WAB	B	0.08%	0.07%	0.07%
	WAT	B	0.05%	0.04%	0.04%
	WBA	F	0.01%	0.01%	0.01%
	WBD	C	0.05%	0.04%	0.04%
	WDC	D	0.04%	0.04%	0.04%
	WEC	A	0.06%	0.06%	0.06%
	WELL	A	0.16%	0.16%	0.16%
	WFC	A	0.58%	0.49%	0.49%
	WM	A	0.17%	0.16%	0.16%
	WMB	A	0.15%	0.14%	0.14%
	WMT	A	0.74%	0.73%	0.73%
	WRB	A	0.04%	0.04%	0.04%
	WST	C	0.05%	0.04%	0.04%
	WTW	B	0.07%	0.06%	0.06%
	WY	D	0.05%	0.04%	0.04%
	XEL	A	0.08%	0.07%	0.07%
	XOM	B	1.22%	1.04%	1.04%
	XYL	D	0.07%	0.06%	0.06%
	ZBH	C	0.05%	0.04%	0.04%
	ZBRA	B	0.04%	0.04%	0.04%
	ZTS	D	0.16%	0.16%	0.16%

QVML Overweight 22 Positions Relative to BBUS

	Symbol	Grade	Weight
	CBOE	B	0.04%
	AIZ	A	0.03%
	GNRC	B	0.03%
	TPR	B	0.03%
	CHRW	C	0.03%
	JBL	B	0.03%
	FMC	D	0.02%
	MHK	D	0.02%
	DVA	B	0.02%
	FRT	B	0.02%
	RL	B	0.02%
	IVZ	B	0.02%
	CZR	F	0.02%
	BWA	D	0.02%
	SOLV	C	0.02%
	HSIC	B	0.02%
	AOS	F	0.02%
	GL	B	0.02%
	MKTX	D	0.02%
	PNW	B	0.02%
	NCLH	B	0.02%
	PARA	C	0.01%

QVML Underweight 118 Positions Relative to BBUS

	Symbol	Grade	Weight
	GOOGL	C	-2.0%
	TSLA	B	-1.84%
	ORCL	B	-0.59%
	MCD	D	-0.41%
	AMGN	D	-0.3%
	LOW	D	-0.29%
	PFE	D	-0.27%
	PLTR	B	-0.24%
	BMY	B	-0.23%
	SBUX	A	-0.22%
	BA	F	-0.21%
	AMT	D	-0.18%
	MELI	D	-0.18%
	EQIX	A	-0.17%
	MRVL	B	-0.15%
	TDG	D	-0.14%
	APD	A	-0.14%
	APO	B	-0.13%
	MAR	B	-0.13%
	ORLY	B	-0.13%
	HLT	A	-0.12%
	COIN	C	-0.12%
	WDAY	B	-0.11%
	TTD	B	-0.11%
	FICO	B	-0.11%
	NEM	D	-0.1%
	SQ	B	-0.1%
	VRT	B	-0.1%
	LNG	B	-0.1%
	DASH	A	-0.1%
	CCI	D	-0.09%
	MSCI	C	-0.09%
	TEAM	A	-0.08%
	DDOG	A	-0.08%
	OTIS	C	-0.08%
	SNOW	C	-0.08%
	IRM	D	-0.07%
	HUBS	A	-0.07%
	DELL	C	-0.07%
	YUM	B	-0.07%
	CPNG	D	-0.06%
	NET	B	-0.06%
	DXCM	D	-0.06%
	VEEV	C	-0.06%
	ALNY	D	-0.06%
	ARES	A	-0.06%
	SBAC	D	-0.05%
	LPLA	A	-0.05%
	MTD	D	-0.05%
	RBLX	C	-0.05%
	FCNCA	A	-0.05%
	TPL	A	-0.05%
	ZS	C	-0.04%
	BAH	F	-0.04%
	PODD	C	-0.04%
	WSO	A	-0.04%
	TRU	D	-0.04%
	ZM	B	-0.04%
	STX	D	-0.04%
	LII	A	-0.04%
	MDB	C	-0.04%
	LYV	A	-0.04%
	LVS	C	-0.04%
	CLX	B	-0.04%
	ILMN	D	-0.04%
	MKL	A	-0.04%
	BIIB	F	-0.04%
	AVTR	F	-0.03%
	DT	C	-0.03%
	EQH	B	-0.03%
	EWBC	A	-0.03%
	RGA	A	-0.03%
	ENTG	D	-0.03%
	EL	F	-0.03%
	DPZ	C	-0.03%
	FNF	B	-0.03%
	SUI	D	-0.03%
	VRSN	F	-0.03%
	SSNC	B	-0.03%
	DOCU	A	-0.03%
	FLEX	A	-0.03%
	HEI	B	-0.03%
	TWLO	A	-0.03%
	OC	A	-0.03%
	BURL	A	-0.03%
	TRMB	B	-0.03%
	PINS	D	-0.03%
	ENPH	F	-0.02%
	WYNN	D	-0.02%
	SCCO	F	-0.02%
	AES	F	-0.02%
	EXAS	D	-0.02%
	CNH	C	-0.02%
	AFG	A	-0.02%
	RPRX	D	-0.02%
	TECH	D	-0.02%
	CCK	C	-0.02%
	CG	A	-0.02%
	SNAP	C	-0.02%
	HEI	B	-0.02%
	BMRN	D	-0.02%
	OKTA	C	-0.02%
	SJM	D	-0.02%
	WPC	D	-0.02%
	NBIX	C	-0.02%
	Z	A	-0.02%
	ELS	C	-0.02%
	ALB	C	-0.02%
	NWS	B	-0.01%
	ZG	A	-0.01%
	WLK	D	-0.01%
	FOX	A	-0.01%
	SIRI	C	-0.01%
	BSY	D	-0.01%
	U	C	-0.01%
	CRBG	B	-0.01%
	ACI	C	-0.01%
	AGR	B	-0.0%

QVML: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Semiconductors Business Services Asset Management Diagnostics & Research Oil & Gas E&P Banks - Regional - US Capital Markets Medical Instruments & Supplies Packaged Foods Aerospace & Defense Credit Services Health Care Plans Information Technology Services Insurance - Property & Casualty Medical Devices REIT - Residential Specialty Retail

Keywords: S&P 500 Nasdaq 100 Natural Gas Electricity Insurance Computing Dow Jones Component Electronics Aerospace Real Estate Investment Trust Bank Chemical Banking Medicine Semiconductor Telecommunications Insurance Products Petroleum Industry Investment Bank Mobile Devices

BBUS: Top Represented Industries & Keywords

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

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