QVMS vs. SPSM ETF Comparison

Comparison of Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS) to SPDR Portfolio Small Cap ETF (SPSM)

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

$28.90

Average Daily Volume

483

Number of Holdings ^*

523

* may have additional holdings in another (foreign) market

SPSM

SPDR Portfolio Small Cap ETF

SPSM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the SSGA Small Cap Index that tracks the performance of small capitalization exchange traded U.S. equity securities. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. It may purchase a subset of the securities in the index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$47.84

Average Daily Volume

1,581,869

Number of Holdings ^*

586

* may have additional holdings in another (foreign) market

Performance

Period	QVMS	SPSM
30 Days	7.00%	6.50%
60 Days	6.30%	5.60%
90 Days	6.54%	6.02%
12 Months	30.65%	30.13%

524 Overlapping Holdings

	Symbol	Grade	Weight in QVMS	Weight in SPSM	Overlap
	AAP	D	0.22%	0.17%	0.17%
	AAT	B	0.1%	0.09%	0.09%
	ABCB	B	0.36%	0.32%	0.32%
	ABG	C	0.46%	0.36%	0.36%
	ABM	B	0.31%	0.24%	0.24%
	ABR	C	0.22%	0.2%	0.2%
	ACA	A	0.41%	0.36%	0.36%
	ACIW	B	0.47%	0.41%	0.41%
	ACLS	F	0.21%	0.17%	0.17%
	ADUS	D	0.17%	0.15%	0.15%
	AEIS	C	0.35%	0.29%	0.29%
	AEO	F	0.27%	0.23%	0.23%
	AGO	B	0.37%	0.32%	0.32%
	AGYS	A	0.2%	0.19%	0.19%
	AHCO	F	0.06%	0.07%	0.06%
	AHH	D	0.06%	0.05%	0.05%
	AIN	C	0.21%	0.18%	0.18%
	AIR	B	0.17%	0.17%	0.17%
	AKR	B	0.19%	0.19%	0.19%
	AL	B	0.42%	0.36%	0.36%
	ALEX	B	0.1%	0.1%	0.1%
	ALG	B	0.16%	0.14%	0.14%
	ALGT	B	0.08%	0.08%	0.08%
	ALK	B	0.46%	0.47%	0.46%
	ALKS	C	0.39%	0.32%	0.32%
	ALRM	C	0.25%	0.21%	0.21%
	AMBC	C	0.04%	0.04%	0.04%
	AMN	F	0.09%	0.07%	0.07%
	AMR	C	0.26%	0.19%	0.19%
	AMSF	B	0.09%	0.08%	0.08%
	AMWD	C	0.13%	0.11%	0.11%
	ANDE	D	0.13%	0.11%	0.11%
	ANIP	F	0.08%	0.06%	0.06%
	AORT	B	0.09%	0.07%	0.07%
	AOSL	C	0.06%	0.05%	0.05%
	APAM	B	0.26%	0.23%	0.23%
	APLE	B	0.27%	0.25%	0.25%
	APOG	C	0.15%	0.13%	0.13%
	ARCB	C	0.21%	0.18%	0.18%
	ARCH	B	0.25%	0.21%	0.21%
	ARI	C	0.09%	0.08%	0.08%
	ARLO	C	0.09%	0.08%	0.08%
	AROC	A	0.28%	0.29%	0.28%
	ASIX	B	0.06%	0.06%	0.06%
	ASO	F	0.28%	0.24%	0.24%
	ASTE	C	0.07%	0.06%	0.06%
	ASTH	F	0.13%	0.12%	0.12%
	ATEN	A	0.09%	0.09%	0.09%
	ATGE	B	0.26%	0.23%	0.23%
	ATI	C	0.55%	0.5%	0.5%
	AUB	B	0.31%	0.27%	0.27%
	AVA	A	0.23%	0.22%	0.22%
	AVAV	C	0.48%	0.39%	0.39%
	AVNS	F	0.07%	0.06%	0.06%
	AWI	A	0.53%	0.48%	0.48%
	AWR	B	0.24%	0.23%	0.23%
	AX	B	0.35%	0.31%	0.31%
	AXL	C	0.06%	0.05%	0.05%
	AZZ	A	0.21%	0.18%	0.18%
	B	A	0.21%	0.15%	0.15%
	BANF	B	0.14%	0.17%	0.14%
	BANR	B	0.2%	0.18%	0.18%
	BCC	B	0.47%	0.39%	0.39%
	BCPC	B	0.47%	0.41%	0.41%
	BDN	C	0.07%	0.06%	0.06%
	BFH	C	0.26%	0.2%	0.2%
	BFS	C	0.04%	0.03%	0.03%
	BGC	C	0.32%	0.29%	0.29%
	BGS	F	0.04%	0.04%	0.04%
	BHE	C	0.14%	0.12%	0.12%
	BHLB	B	0.1%	0.09%	0.09%
	BJRI	C	0.07%	0.06%	0.06%
	BKE	B	0.11%	0.1%	0.1%
	BKU	A	0.25%	0.22%	0.22%
	BL	B	0.24%	0.21%	0.21%
	BLFS	C	0.07%	0.05%	0.05%
	BLMN	F	0.1%	0.07%	0.07%
	BMI	B	0.5%	0.45%	0.45%
	BOH	B	0.24%	0.22%	0.22%
	BOOT	C	0.28%	0.29%	0.28%
	BRC	D	0.26%	0.22%	0.22%
	BRKL	B	0.09%	0.08%	0.08%
	BTU	B	0.24%	0.24%	0.24%
	BXMT	C	0.24%	0.22%	0.22%
	CABO	B	0.16%	0.13%	0.13%
	CAKE	C	0.18%	0.16%	0.16%
	CAL	F	0.08%	0.07%	0.07%
	CALM	A	0.29%	0.27%	0.27%
	CALX	D	0.14%	0.12%	0.12%
	CARG	B	0.22%	0.22%	0.22%
	CARS	C	0.09%	0.08%	0.08%
	CASH	B	0.16%	0.14%	0.14%
	CATY	B	0.3%	0.26%	0.26%
	CBRL	C	0.09%	0.08%	0.08%
	CBU	B	0.3%	0.25%	0.25%
	CCOI	B	0.25%	0.24%	0.24%
	CCS	D	0.2%	0.17%	0.17%
	CEIX	A	0.28%	0.24%	0.24%
	CENTA	C	0.17%	0.12%	0.12%
	CENX	B	0.09%	0.08%	0.08%
	CERT	F	0.09%	0.08%	0.08%
	CEVA	B	0.05%	0.05%	0.05%
	CFFN	C	0.07%	0.06%	0.06%
	CHCO	B	0.15%	0.13%	0.13%
	CHEF	A	0.12%	0.1%	0.1%
	CLB	B	0.08%	0.07%	0.07%
	CMA	B	0.71%	0.64%	0.64%
	CNK	C	0.25%	0.24%	0.24%
	CNMD	C	0.17%	0.15%	0.15%
	CNS	B	0.2%	0.19%	0.19%
	CNXN	C	0.06%	0.06%	0.06%
	COHU	C	0.1%	0.08%	0.08%
	COLL	F	0.08%	0.07%	0.07%
	COOP	B	0.51%	0.45%	0.45%
	CORT	B	0.38%	0.35%	0.35%
	CPF	B	0.07%	0.06%	0.06%
	CPK	A	0.21%	0.21%	0.21%
	CPRX	C	0.19%	0.17%	0.17%
	CRC	A	0.31%	0.28%	0.28%
	CRK	B	0.1%	0.09%	0.09%
	CRS	B	0.69%	0.64%	0.64%
	CRSR	C	0.03%	0.02%	0.02%
	CRVL	B	0.25%	0.23%	0.23%
	CSGS	B	0.13%	0.11%	0.11%
	CSR	B	0.08%	0.08%	0.08%
	CTKB	C	0.05%	0.05%	0.05%
	CTRE	C	0.32%	0.36%	0.32%
	CTS	C	0.14%	0.12%	0.12%
	CUBI	B	0.13%	0.11%	0.11%
	CVBF	A	0.25%	0.21%	0.21%
	CVCO	A	0.28%	0.27%	0.27%
	CVI	F	0.05%	0.05%	0.05%
	CWEN	C	0.24%	0.06%	0.06%
	CWEN	C	0.24%	0.16%	0.16%
	CWK	C	0.21%	0.23%	0.21%
	CWT	C	0.23%	0.21%	0.21%
	CXM	C	0.08%	0.07%	0.07%
	CXW	C	0.19%	0.17%	0.17%
	DAN	D	0.1%	0.07%	0.07%
	DCOM	B	0.09%	0.09%	0.09%
	DEA	D	0.1%	0.08%	0.08%
	DEI	B	0.23%	0.21%	0.21%
	DFIN	D	0.12%	0.11%	0.11%
	DGII	C	0.1%	0.08%	0.08%
	DIOD	D	0.22%	0.18%	0.18%
	DLX	B	0.08%	0.07%	0.07%
	DNOW	B	0.13%	0.11%	0.11%
	DORM	B	0.3%	0.26%	0.26%
	DRH	B	0.15%	0.13%	0.13%
	DXC	B	0.29%	0.25%	0.25%
	DXPE	C	0.08%	0.06%	0.06%
	DY	D	0.39%	0.41%	0.39%
	EAT	A	0.4%	0.39%	0.39%
	EFC	C	0.08%	0.08%	0.08%
	EGBN	B	0.07%	0.06%	0.06%
	EIG	B	0.1%	0.09%	0.09%
	ELME	D	0.11%	0.1%	0.1%
	ENR	B	0.19%	0.16%	0.16%
	ENV	B	0.24%	0.23%	0.23%
	ENVA	B	0.24%	0.19%	0.19%
	EPAC	C	0.21%	0.18%	0.18%
	EPC	F	0.15%	0.12%	0.12%
	EPRT	B	0.43%	0.42%	0.42%
	ESE	B	0.28%	0.27%	0.27%
	ETD	C	0.05%	0.05%	0.05%
	EVTC	B	0.17%	0.16%	0.16%
	EXPI	D	0.07%	0.08%	0.07%
	EYE	C	0.07%	0.06%	0.06%
	EZPW	B	0.05%	0.04%	0.04%
	FBK	C	0.16%	0.14%	0.14%
	FBNC	B	0.15%	0.13%	0.13%
	FBP	C	0.28%	0.24%	0.24%
	FBRT	D	0.08%	0.07%	0.07%
	FCF	B	0.15%	0.14%	0.14%
	FCPT	C	0.18%	0.19%	0.18%
	FDP	B	0.09%	0.08%	0.08%
	FELE	B	0.35%	0.3%	0.3%
	FFBC	B	0.22%	0.2%	0.2%
	FHB	B	0.28%	0.24%	0.24%
	FIZZ	C	0.09%	0.08%	0.08%
	FL	F	0.19%	0.13%	0.13%
	FLGT	F	0.03%	0.02%	0.02%
	FORM	D	0.26%	0.21%	0.21%
	FSS	B	0.47%	0.39%	0.39%
	FTDR	B	0.33%	0.3%	0.3%
	FTRE	D	0.15%	0.12%	0.12%
	FUL	F	0.34%	0.29%	0.29%
	FULT	A	0.32%	0.27%	0.27%
	GBX	A	0.17%	0.14%	0.14%
	GDEN	B	0.06%	0.05%	0.05%
	GDOT	D	0.04%	0.04%	0.04%
	GEO	B	0.29%	0.26%	0.26%
	GES	F	0.04%	0.03%	0.03%
	GFF	A	0.23%	0.22%	0.22%
	GIII	D	0.08%	0.08%	0.08%
	GKOS	B	0.56%	0.54%	0.54%
	GMS	B	0.31%	0.28%	0.28%
	GNL	F	0.11%	0.1%	0.1%
	GNW	A	0.26%	0.23%	0.23%
	GO	C	0.16%	0.12%	0.12%
	GOGO	C	0.04%	0.03%	0.03%
	GPI	B	0.46%	0.37%	0.37%
	GPRE	F	0.06%	0.05%	0.05%
	GRBK	D	0.14%	0.15%	0.14%
	GSHD	A	0.24%	0.2%	0.2%
	GTES	A	0.35%	0.34%	0.34%
	GTY	A	0.12%	0.11%	0.11%
	GVA	A	0.33%	0.3%	0.3%
	HAFC	B	0.06%	0.05%	0.05%
	HAIN	D	0.05%	0.05%	0.05%
	HASI	D	0.23%	0.23%	0.23%
	HAYN	A	0.06%	0.06%	0.06%
	HAYW	B	0.16%	0.16%	0.16%
	HBI	B	0.21%	0.21%	0.21%
	HCC	B	0.31%	0.25%	0.25%
	HCI	C	0.06%	0.07%	0.06%
	HCSG	C	0.07%	0.06%	0.06%
	HFWA	C	0.07%	0.06%	0.06%
	HI	C	0.22%	0.16%	0.16%
	HIW	C	0.26%	0.24%	0.24%
	HLIT	D	0.11%	0.1%	0.1%
	HLX	B	0.14%	0.1%	0.1%
	HMN	B	0.14%	0.12%	0.12%
	HNI	B	0.21%	0.18%	0.18%
	HOPE	C	0.13%	0.12%	0.12%
	HP	C	0.27%	0.24%	0.24%
	HPP	F	0.04%	0.03%	0.03%
	HRMY	D	0.08%	0.09%	0.08%
	HSII	B	0.07%	0.06%	0.06%
	HSTM	B	0.06%	0.05%	0.05%
	HTH	C	0.12%	0.1%	0.1%
	HTLD	C	0.04%	0.04%	0.04%
	HTZ	C	0.05%	0.04%	0.04%
	HUBG	A	0.25%	0.22%	0.22%
	HWKN	B	0.2%	0.17%	0.17%
	HZO	F	0.05%	0.04%	0.04%
	IAC	F	0.26%	0.24%	0.24%
	IART	C	0.14%	0.11%	0.11%
	IBP	D	0.4%	0.34%	0.34%
	IBTX	B	0.18%	0.16%	0.16%
	ICHR	C	0.09%	0.07%	0.07%
	ICUI	D	0.26%	0.3%	0.26%
	IDCC	B	0.36%	0.33%	0.33%
	IIIN	C	0.05%	0.04%	0.04%
	IIPR	D	0.22%	0.21%	0.21%
	INDB	B	0.25%	0.22%	0.22%
	INN	D	0.05%	0.05%	0.05%
	INVA	D	0.08%	0.07%	0.07%
	IOSP	C	0.25%	0.21%	0.21%
	IPAR	B	0.2%	0.16%	0.16%
	ITGR	B	0.36%	0.32%	0.32%
	ITRI	C	0.42%	0.37%	0.37%
	JBGS	F	0.1%	0.09%	0.09%
	JBLU	F	0.17%	0.14%	0.14%
	JBSS	F	0.06%	0.05%	0.05%
	JBT	B	0.3%	0.27%	0.27%
	JJSF	C	0.21%	0.18%	0.18%
	JOE	F	0.14%	0.14%	0.14%
	JXN	C	0.58%	0.54%	0.54%
	KALU	C	0.11%	0.09%	0.09%
	KAR	B	0.18%	0.15%	0.15%
	KELYA	F	0.04%	0.03%	0.03%
	KFY	B	0.32%	0.28%	0.28%
	KLG	B	0.08%	0.08%	0.08%
	KLIC	B	0.21%	0.18%	0.18%
	KMT	B	0.18%	0.16%	0.16%
	KN	B	0.14%	0.11%	0.11%
	KOP	C	0.07%	0.06%	0.06%
	KREF	C	0.05%	0.05%	0.05%
	KRYS	C	0.33%	0.32%	0.32%
	KSS	F	0.16%	0.14%	0.14%
	KTB	B	0.35%	0.32%	0.32%
	KWR	C	0.19%	0.16%	0.16%
	LBRT	D	0.22%	0.21%	0.21%
	LCII	C	0.23%	0.21%	0.21%
	LGIH	F	0.17%	0.15%	0.15%
	LGND	C	0.15%	0.15%	0.15%
	LKFN	C	0.15%	0.13%	0.13%
	LMAT	A	0.16%	0.15%	0.15%
	LNC	C	0.5%	0.42%	0.42%
	LNN	B	0.11%	0.1%	0.1%
	LPG	F	0.08%	0.07%	0.07%
	LQDT	B	0.04%	0.04%	0.04%
	LRN	A	0.32%	0.31%	0.31%
	LTC	B	0.13%	0.12%	0.12%
	LXP	D	0.21%	0.19%	0.19%
	LZB	B	0.14%	0.13%	0.13%
	MAC	B	0.31%	0.3%	0.3%
	MARA	B	0.45%	0.38%	0.38%
	MATV	D	0.05%	0.05%	0.05%
	MATW	C	0.06%	0.05%	0.05%
	MATX	C	0.46%	0.37%	0.37%
	MC	C	0.43%	0.37%	0.37%
	MCRI	A	0.08%	0.08%	0.08%
	MCW	C	0.06%	0.05%	0.05%
	MCY	A	0.17%	0.14%	0.14%
	MD	C	0.09%	0.09%	0.09%
	MGEE	B	0.29%	0.27%	0.27%
	MGPI	F	0.06%	0.05%	0.05%
	MGY	A	0.41%	0.37%	0.37%
	MHO	D	0.34%	0.3%	0.3%
	MLAB	F	0.04%	0.04%	0.04%
	MLI	B	0.84%	0.73%	0.73%
	MLKN	F	0.15%	0.12%	0.12%
	MMI	C	0.08%	0.07%	0.07%
	MMSI	A	0.44%	0.43%	0.43%
	MNRO	D	0.07%	0.06%	0.06%
	MODG	F	0.1%	0.08%	0.08%
	MOG.A	B	0.5%	0.45%	0.45%
	MPW	F	0.18%	0.18%	0.18%
	MRCY	C	0.17%	0.14%	0.14%
	MRTN	D	0.08%	0.07%	0.07%
	MSEX	C	0.09%	0.08%	0.08%
	MTH	D	0.51%	0.46%	0.46%
	MTRN	C	0.21%	0.17%	0.17%
	MTUS	C	0.05%	0.04%	0.04%
	MTX	B	0.21%	0.18%	0.18%
	MYE	F	0.04%	0.03%	0.03%
	MYGN	F	0.12%	0.1%	0.1%
	MYRG	B	0.21%	0.17%	0.17%
	NABL	F	0.06%	0.05%	0.05%
	NAVI	F	0.11%	0.08%	0.08%
	NBHC	C	0.15%	0.13%	0.13%
	NBR	C	0.06%	0.05%	0.05%
	NBTB	B	0.2%	0.16%	0.16%
	NEO	C	0.16%	0.14%	0.14%
	NHC	C	0.15%	0.11%	0.11%
	NMIH	C	0.24%	0.21%	0.21%
	NOG	B	0.33%	0.29%	0.29%
	NPK	B	0.03%	0.03%	0.03%
	NPO	A	0.28%	0.25%	0.25%
	NSIT	F	0.35%	0.3%	0.3%
	NTCT	C	0.14%	0.11%	0.11%
	NVEE	F	0.09%	0.08%	0.08%
	NVRI	D	0.05%	0.04%	0.04%
	NWBI	B	0.15%	0.13%	0.13%
	NWL	C	0.25%	0.26%	0.25%
	NWN	A	0.12%	0.11%	0.11%
	NX	C	0.11%	0.1%	0.1%
	NXRT	B	0.08%	0.07%	0.07%
	ODP	F	0.07%	0.06%	0.06%
	OFG	B	0.17%	0.14%	0.14%
	OGN	F	0.33%	0.28%	0.28%
	OI	C	0.16%	0.14%	0.14%
	OII	B	0.25%	0.2%	0.2%
	OMI	F	0.07%	0.06%	0.06%
	OSIS	A	0.19%	0.17%	0.17%
	OTTR	C	0.28%	0.24%	0.24%
	OXM	F	0.09%	0.08%	0.08%
	PAHC	C	0.04%	0.04%	0.04%
	PARR	F	0.09%	0.07%	0.07%
	PATK	C	0.21%	0.21%	0.21%
	PAYO	A	0.21%	0.19%	0.19%
	PBH	A	0.33%	0.29%	0.29%
	PCRX	C	0.07%	0.05%	0.05%
	PDCO	F	0.13%	0.12%	0.12%
	PEB	D	0.12%	0.11%	0.11%
	PECO	A	0.35%	0.34%	0.34%
	PENN	C	0.25%	0.21%	0.21%
	PFBC	B	0.09%	0.08%	0.08%
	PFS	B	0.23%	0.2%	0.2%
	PHIN	A	0.19%	0.16%	0.16%
	PINC	B	0.19%	0.17%	0.17%
	PIPR	A	0.42%	0.38%	0.38%
	PJT	A	0.28%	0.26%	0.26%
	PLAB	C	0.14%	0.11%	0.11%
	PLAY	D	0.09%	0.08%	0.08%
	PLMR	A	0.21%	0.2%	0.2%
	PLUS	F	0.18%	0.15%	0.15%
	PLXS	B	0.33%	0.3%	0.3%
	PMT	C	0.09%	0.08%	0.08%
	POWL	C	0.22%	0.19%	0.19%
	PPBI	C	0.22%	0.19%	0.19%
	PRA	C	0.07%	0.06%	0.06%
	PRAA	D	0.08%	0.06%	0.06%
	PRDO	B	0.14%	0.12%	0.12%
	PRG	C	0.17%	0.14%	0.14%
	PRGS	A	0.22%	0.2%	0.2%
	PRK	B	0.23%	0.2%	0.2%
	PRLB	B	0.08%	0.07%	0.07%
	PRVA	C	0.19%	0.15%	0.15%
	PSMT	D	0.18%	0.16%	0.16%
	PTEN	C	0.23%	0.21%	0.21%
	PTGX	D	0.17%	0.17%	0.17%
	PUMP	C	0.05%	0.04%	0.04%
	QNST	B	0.08%	0.08%	0.08%
	RAMP	B	0.15%	0.13%	0.13%
	RC	D	0.09%	0.09%	0.09%
	RCUS	F	0.06%	0.06%	0.06%
	RDN	D	0.42%	0.36%	0.36%
	RDNT	B	0.43%	0.37%	0.37%
	RES	D	0.04%	0.03%	0.03%
	REX	D	0.06%	0.05%	0.05%
	REZI	A	0.31%	0.27%	0.27%
	RGNX	D	0.04%	0.03%	0.03%
	RGR	F	0.05%	0.05%	0.05%
	RHI	C	0.59%	0.53%	0.53%
	RNST	B	0.19%	0.17%	0.17%
	ROCK	C	0.17%	0.15%	0.15%
	ROG	D	0.14%	0.12%	0.12%
	ROIC	A	0.17%	0.16%	0.16%
	RUSHA	C	0.32%	0.27%	0.27%
	RWT	D	0.07%	0.07%	0.07%
	RXO	D	0.27%	0.26%	0.26%
	SAFT	B	0.1%	0.09%	0.09%
	SAH	C	0.08%	0.07%	0.07%
	SANM	B	0.34%	0.3%	0.3%
	SATS	D	0.17%	0.2%	0.17%
	SBCF	B	0.2%	0.18%	0.18%
	SBH	C	0.11%	0.1%	0.1%
	SBSI	C	0.08%	0.07%	0.07%
	SCHL	F	0.05%	0.04%	0.04%
	SCL	C	0.13%	0.11%	0.11%
	SCSC	C	0.11%	0.08%	0.08%
	SCVL	F	0.05%	0.04%	0.04%
	SEE	C	0.42%	0.36%	0.36%
	SEM	B	0.32%	0.27%	0.27%
	SFBS	C	0.38%	0.33%	0.33%
	SFNC	C	0.25%	0.22%	0.22%
	SHAK	C	0.35%	0.33%	0.33%
	SHEN	F	0.05%	0.04%	0.04%
	SHO	D	0.16%	0.15%	0.15%
	SHOO	F	0.24%	0.22%	0.22%
	SIG	B	0.35%	0.3%	0.3%
	SITM	B	0.28%	0.27%	0.27%
	SJW	F	0.12%	0.12%	0.12%
	SKT	A	0.29%	0.28%	0.28%
	SKYW	C	0.35%	0.31%	0.31%
	SLG	B	0.37%	0.35%	0.35%
	SLP	D	0.04%	0.03%	0.03%
	SLVM	B	0.24%	0.21%	0.21%
	SM	B	0.45%	0.36%	0.36%
	SMP	C	0.05%	0.05%	0.05%
	SMPL	B	0.24%	0.24%	0.24%
	SNCY	C	0.04%	0.04%	0.04%
	SNDR	B	0.09%	0.1%	0.09%
	SNEX	B	0.21%	0.2%	0.2%
	SONO	C	0.14%	0.11%	0.11%
	SPNT	B	0.11%	0.1%	0.1%
	SPSC	D	0.54%	0.47%	0.47%
	SPTN	D	0.05%	0.04%	0.04%
	SSTK	F	0.06%	0.05%	0.05%
	STAA	F	0.11%	0.09%	0.09%
	STBA	B	0.13%	0.11%	0.11%
	STC	B	0.16%	0.14%	0.14%
	STEP	C	0.27%	0.29%	0.27%
	STRA	C	0.17%	0.17%	0.17%
	SUPN	C	0.17%	0.14%	0.14%
	SVC	F	0.04%	0.03%	0.03%
	SWI	C	0.05%	0.05%	0.05%
	SXC	A	0.09%	0.07%	0.07%
	SXI	B	0.2%	0.17%	0.17%
	SXT	C	0.26%	0.23%	0.23%
	TALO	C	0.15%	0.1%	0.1%
	TBBK	B	0.24%	0.19%	0.19%
	TDS	B	0.24%	0.22%	0.22%
	TDW	F	0.25%	0.18%	0.18%
	TFIN	B	0.18%	0.15%	0.15%
	THRM	F	0.12%	0.09%	0.09%
	THRY	D	0.03%	0.03%	0.03%
	THS	D	0.12%	0.11%	0.11%
	TILE	B	0.12%	0.1%	0.1%
	TMP	B	0.08%	0.07%	0.07%
	TNC	D	0.14%	0.12%	0.12%
	TPH	D	0.32%	0.28%	0.28%
	TR	B	0.04%	0.04%	0.04%
	TRIP	F	0.13%	0.11%	0.11%
	TRMK	C	0.19%	0.16%	0.16%
	TRN	B	0.25%	0.22%	0.22%
	TRST	B	0.06%	0.05%	0.05%
	TRUP	B	0.15%	0.12%	0.12%
	TTMI	C	0.2%	0.17%	0.17%
	TWI	F	0.03%	0.02%	0.02%
	UCB	A	0.31%	0.28%	0.28%
	UCTT	D	0.13%	0.11%	0.11%
	UE	B	0.21%	0.2%	0.2%
	UFCS	A	0.04%	0.04%	0.04%
	UFPT	C	0.19%	0.14%	0.14%
	UHT	D	0.04%	0.04%	0.04%
	UNF	B	0.23%	0.21%	0.21%
	UNFI	A	0.1%	0.09%	0.09%
	UPBD	B	0.12%	0.11%	0.11%
	URBN	C	0.17%	0.16%	0.16%
	USNA	C	0.04%	0.03%	0.03%
	USPH	B	0.11%	0.1%	0.1%
	UTL	B	0.07%	0.07%	0.07%
	UVV	B	0.1%	0.1%	0.1%
	VBTX	B	0.13%	0.11%	0.11%
	VCEL	B	0.23%	0.18%	0.18%
	VECO	F	0.14%	0.11%	0.11%
	VFC	C	0.53%	0.46%	0.46%
	VIAV	C	0.18%	0.15%	0.15%
	VICR	C	0.1%	0.09%	0.09%
	VIRT	A	0.23%	0.21%	0.21%
	VRRM	F	0.3%	0.27%	0.27%
	VRTS	B	0.13%	0.11%	0.11%
	VSAT	F	0.05%	0.04%	0.04%
	VSCO	C	0.24%	0.2%	0.2%
	VSTO	A	0.2%	0.18%	0.18%
	VSTS	C	0.14%	0.11%	0.11%
	VTLE	C	0.08%	0.06%	0.06%
	VTOL	B	0.08%	0.06%	0.06%
	VVI	C	0.08%	0.07%	0.07%
	WABC	B	0.12%	0.11%	0.11%
	WAFD	B	0.2%	0.21%	0.2%
	WD	D	0.29%	0.24%	0.24%
	WDFC	B	0.3%	0.27%	0.27%
	WERN	C	0.2%	0.17%	0.17%
	WGO	C	0.15%	0.12%	0.12%
	WHD	B	0.36%	0.31%	0.31%
	WKC	C	0.13%	0.12%	0.12%
	WNC	C	0.07%	0.06%	0.06%
	WOR	F	0.1%	0.09%	0.09%
	WRLD	C	0.03%	0.03%	0.03%
	WS	C	0.11%	0.11%	0.11%
	WSFS	B	0.29%	0.24%	0.24%
	WSR	A	0.05%	0.05%	0.05%
	WT	A	0.1%	0.1%	0.1%
	WWW	A	0.14%	0.12%	0.12%
	XHR	B	0.13%	0.11%	0.11%
	XNCR	B	0.09%	0.1%	0.09%
	XPEL	B	0.07%	0.07%	0.07%
	XRX	F	0.08%	0.07%	0.07%
	YELP	C	0.19%	0.17%	0.17%

QVMS Overweight 0 Positions Relative to SPSM

	Symbol	Grade	Weight

QVMS Underweight 62 Positions Relative to SPSM

	Symbol	Grade	Weight
	LUMN	C	-0.59%
	BBWI	C	-0.5%
	CSWI	B	-0.48%
	ETSY	D	-0.41%
	ZWS	B	-0.4%
	INSP	D	-0.37%
	BOX	B	-0.35%
	ADMA	B	-0.32%
	TGTX	B	-0.28%
	HIMS	B	-0.28%
	PI	D	-0.28%
	MDU	D	-0.27%
	MSGS	A	-0.26%
	SMTC	B	-0.24%
	TGNA	B	-0.21%
	TMDX	F	-0.19%
	DV	C	-0.19%
	ZD	B	-0.18%
	OUT	A	-0.18%
	NARI	C	-0.18%
	YOU	D	-0.17%
	BANC	B	-0.16%
	RUN	F	-0.16%
	MP	C	-0.16%
	DOCN	C	-0.16%
	NATL	B	-0.15%
	OMCL	C	-0.15%
	CRGY	B	-0.15%
	VYX	B	-0.14%
	EXTR	C	-0.14%
	TNDM	D	-0.13%
	NGVT	B	-0.12%
	AMPH	F	-0.12%
	ADNT	F	-0.12%
	HELE	C	-0.11%
	PZZA	F	-0.11%
	LEG	F	-0.11%
	FOXF	F	-0.1%
	UNIT	B	-0.1%
	DVAX	C	-0.1%
	TGI	B	-0.1%
	SABR	C	-0.1%
	VRE	B	-0.1%
	KW	C	-0.09%
	MXL	C	-0.08%
	PGNY	F	-0.08%
	PBI	B	-0.08%
	ECPG	C	-0.08%
	PDFS	C	-0.07%
	SDGR	C	-0.07%
	BSIG	A	-0.06%
	EMBC	C	-0.06%
	WOLF	F	-0.06%
	JACK	C	-0.06%
	VIR	D	-0.05%
	TTGT	B	-0.05%
	LESL	D	-0.04%
	IRWD	F	-0.04%
	SEDG	F	-0.04%
	FWRD	D	-0.04%
	CENT	C	-0.03%
	CNSL	C	-0.03%

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

SPSM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Biotechnology REIT - Diversified Diversified Industrials Software - Application Packaged Foods Specialty Chemicals Asset Management Medical Devices Oil & Gas Equipment & Services REIT - Retail Software - Infrastructure Auto Parts Insurance - Property & Casualty Oil & Gas E&P Restaurants Specialty Retail Building Materials Communication Equipment Drug Manufacturers - Specialty & Generic

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