QWLD vs. FNDX ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to Schwab Fundamental U.S. Large Company Index ETF (FNDX)

QWLD

SPDR MSCI World Quality Mix ETF

QWLD Description

The investment seeks to track the performance of the MSCI World Quality Mix Index. The index captures large-and mid-cap representation across 24 developed countries and aims to represent the performance of value, low volatility, and quality factor strategies. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs") based on securities comprising the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$120.30

Average Daily Volume

4,807

Number of Holdings ^*

611

* may have additional holdings in another (foreign) market

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$66.98

Average Daily Volume

400,805

Number of Holdings ^*

720

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	FNDX
30 Days	1.84%	2.52%
60 Days	3.84%	3.06%
90 Days	1.13%	-0.14%
12 Months	18.73%	19.66%

507 Overlapping Holdings

Symbol	Grade	Weight in QWLD	Weight in FNDX	Overlap
A	D	0.07%	0.06%	0.06%
AAPL	B	2.55%	4.46%	2.55%
ABBV	B	0.16%	0.54%	0.16%
ABBV	B	0.36%	0.54%	0.36%
ABT	D	0.09%	0.32%	0.09%
ACGL	B	0.26%	0.04%	0.04%
ACI	F	0.02%	0.02%	0.02%
ACM	D	0.01%	0.04%	0.01%
ACN	D	0.58%	0.31%	0.31%
ADBE	B	0.48%	0.21%	0.21%
ADI	B	0.04%	0.14%	0.04%
ADM	F	0.06%	0.23%	0.06%
ADP	D	0.21%	0.13%	0.13%
ADSK	B	0.08%	0.03%	0.03%
AEE	D	0.07%	0.06%	0.06%
AEP	C	0.07%	0.16%	0.07%
AER	B	0.02%	0.03%	0.02%
AES	D	0.01%	0.07%	0.01%
AFG	D	0.02%	0.04%	0.02%
AFL	B	0.1%	0.19%	0.1%
AGCO	F	0.01%	0.03%	0.01%
AIG	D	0.07%	0.3%	0.07%
AIZ	D	0.06%	0.03%	0.03%
AJG	B	0.17%	0.05%	0.05%
AKAM	F	0.12%	0.03%	0.03%
ALB	F	0.01%	0.02%	0.01%
ALGN	F	0.01%	0.02%	0.01%
ALL	D	0.06%	0.26%	0.06%
ALLE	C	0.02%	0.02%	0.02%
ALLY	B	0.02%	0.12%	0.02%
AMAT	B	0.41%	0.33%	0.33%
AMCR	C	0.08%	0.02%	0.02%
AMD	B	0.04%	0.1%	0.04%
AME	D	0.01%	0.05%	0.01%
AMGN	B	0.19%	0.47%	0.19%
AMP	C	0.07%	0.12%	0.07%
AMT	B	0.02%	0.12%	0.02%
AMZN	B	0.37%	1.54%	0.37%
ANET	A	0.19%	0.04%	0.04%
ANSS	D	0.0%	0.02%	0.0%
AON	C	0.14%	0.11%	0.11%
AOS	D	0.02%	0.03%	0.02%
APA	D	0.03%	0.04%	0.03%
APD	D	0.02%	0.11%	0.02%
APH	B	0.43%	0.1%	0.1%
APO	A	0.01%	0.03%	0.01%
APTV	F	0.02%	0.05%	0.02%
ARE	C	0.01%	0.03%	0.01%
ATO	B	0.01%	0.03%	0.01%
AVB	A	0.01%	0.05%	0.01%
AVGO	C	0.11%	0.68%	0.11%
AVTR	F	0.01%	0.02%	0.01%
AVY	C	0.03%	0.04%	0.03%
AWK	B	0.01%	0.04%	0.01%
AXP	C	0.05%	0.34%	0.05%
AZO	B	0.28%	0.06%	0.06%
BA	D	0.02%	0.16%	0.02%
BAC	A	0.34%	1.27%	0.34%
BAH	B	0.16%	0.04%	0.04%
BALL	D	0.01%	0.06%	0.01%
BAX	F	0.01%	0.07%	0.01%
BBWI	F	0.01%	0.03%	0.01%
BBY	B	0.05%	0.17%	0.05%
BDX	D	0.08%	0.11%	0.08%
BEN	D	0.01%	0.05%	0.01%
BG	B	0.03%	0.12%	0.03%
BIIB	C	0.02%	0.12%	0.02%
BK	A	0.04%	0.23%	0.04%
BKNG	A	0.02%	0.22%	0.02%
BKR	B	0.02%	0.15%	0.02%
BLDR	F	0.04%	0.03%	0.03%
BLK	B	0.2%	0.23%	0.2%
BMY	F	0.16%	0.31%	0.16%
BR	C	0.04%	0.03%	0.03%
BRK.A	C	0.66%	2.13%	0.66%
BRO	B	0.12%	0.02%	0.02%
BSX	A	0.02%	0.09%	0.02%
BURL	B	0.01%	0.03%	0.01%
BX	B	0.02%	0.1%	0.02%
BXP	B	0.01%	0.04%	0.01%
C	C	0.23%	1.15%	0.23%
CAG	D	0.04%	0.06%	0.04%
CAH	D	0.11%	0.07%	0.07%
CARR	B	0.02%	0.11%	0.02%
CAT	C	0.32%	0.39%	0.32%
CB	C	0.38%	0.27%	0.27%
CBOE	D	0.21%	0.01%	0.01%
CBRE	B	0.02%	0.1%	0.02%
CCEP	B	0.01%	0.03%	0.01%
CCI	C	0.01%	0.09%	0.01%
CCK	F	0.01%	0.03%	0.01%
CCL	B	0.01%	0.06%	0.01%
CDNS	B	0.15%	0.04%	0.04%
CDW	D	0.09%	0.06%	0.06%
CE	F	0.01%	0.07%	0.01%
CEG	C	0.02%	0.11%	0.02%
CF	D	0.12%	0.06%	0.06%
CFG	C	0.03%	0.09%	0.03%
CG	C	0.01%	0.03%	0.01%
CHD	C	0.19%	0.04%	0.04%
CHK	D	0.02%	0.02%	0.02%
CHKP	B	0.17%	0.03%	0.03%
CHRW	B	0.01%	0.07%	0.01%
CHTR	C	0.04%	0.29%	0.04%
CI	D	0.19%	0.52%	0.19%
CINF	C	0.01%	0.06%	0.01%
CL	B	0.22%	0.15%	0.15%
CLF	D	0.02%	0.04%	0.02%
CLX	D	0.01%	0.03%	0.01%
CMCSA	C	0.16%	0.75%	0.16%
CME	D	0.14%	0.07%	0.07%
CMG	C	0.14%	0.04%	0.04%
CMI	D	0.08%	0.17%	0.08%
CMS	D	0.05%	0.06%	0.05%
CNC	F	0.06%	0.23%	0.06%
CNH	F	0.01%	0.04%	0.01%
CNP	A	0.01%	0.07%	0.01%
COF	C	0.07%	0.39%	0.07%
COP	D	0.11%	0.48%	0.11%
COST	B	0.74%	0.7%	0.7%
CPAY	D	0.01%	0.05%	0.01%
CPB	C	0.09%	0.03%	0.03%
CPRT	C	0.08%	0.03%	0.03%
CPT	A	0.0%	0.02%	0.0%
CRBG	C	0.01%	0.03%	0.01%
CRL	F	0.0%	0.01%	0.0%
CRM	D	0.05%	0.12%	0.05%
CSCO	C	0.88%	0.72%	0.72%
CSL	C	0.03%	0.05%	0.03%
CSX	C	0.11%	0.22%	0.11%
CTAS	B	0.12%	0.08%	0.08%
CTLT	B	0.01%	0.02%	0.01%
CTRA	D	0.02%	0.02%	0.02%
CTSH	C	0.18%	0.17%	0.17%
CTVA	C	0.04%	0.09%	0.04%
CVS	D	0.18%	0.71%	0.18%
CVX	C	0.33%	1.23%	0.33%
CZR	C	0.01%	0.02%	0.01%
D	D	0.05%	0.17%	0.05%
DAL	D	0.01%	0.02%	0.01%
DD	B	0.02%	0.18%	0.02%
DE	D	0.06%	0.22%	0.06%
DECK	B	0.05%	0.04%	0.04%
DELL	C	0.01%	0.01%	0.01%
DFS	A	0.03%	0.21%	0.03%
DG	D	0.02%	0.13%	0.02%
DGX	D	0.09%	0.07%	0.07%
DHI	D	0.09%	0.15%	0.09%
DHR	D	0.06%	0.16%	0.06%
DINO	D	0.06%	0.06%	0.06%
DIS	D	0.09%	0.44%	0.09%
DKS	B	0.03%	0.05%	0.03%
DLR	A	0.02%	0.08%	0.02%
DLTR	F	0.02%	0.07%	0.02%
DOC	B	0.01%	0.04%	0.01%
DOV	B	0.04%	0.06%	0.04%
DOW	D	0.04%	0.21%	0.04%
DPZ	B	0.07%	0.05%	0.05%
DRI	C	0.03%	0.05%	0.03%
DTE	C	0.02%	0.08%	0.02%
DUK	D	0.33%	0.3%	0.3%
DVA	C	0.01%	0.06%	0.01%
DVN	C	0.03%	0.1%	0.03%
EA	B	0.18%	0.08%	0.08%
EBAY	B	0.01%	0.17%	0.01%
ECL	B	0.01%	0.09%	0.01%
ED	D	0.34%	0.12%	0.12%
EFX	B	0.01%	0.03%	0.01%
EG	B	0.06%	0.03%	0.03%
EIX	D	0.02%	0.09%	0.02%
EL	F	0.01%	0.05%	0.01%
ELV	A	0.28%	0.51%	0.28%
EME	C	0.03%	0.05%	0.03%
EMN	C	0.01%	0.08%	0.01%
EMR	C	0.03%	0.16%	0.03%
EOG	C	0.06%	0.22%	0.06%
EPAM	D	0.02%	0.01%	0.01%
EQH	B	0.01%	0.05%	0.01%
EQIX	C	0.01%	0.07%	0.01%
EQR	A	0.01%	0.05%	0.01%
EQT	D	0.01%	0.02%	0.01%
ES	F	0.01%	0.08%	0.01%
ESS	B	0.01%	0.03%	0.01%
ETN	D	0.03%	0.23%	0.03%
ETR	C	0.02%	0.1%	0.02%
EVRG	C	0.01%	0.07%	0.01%
EW	B	0.1%	0.05%	0.05%
EXC	D	0.03%	0.16%	0.03%
EXPD	B	0.04%	0.02%	0.02%
EXPE	C	0.01%	0.03%	0.01%
EXR	B	0.01%	0.03%	0.01%
F	C	0.11%	0.37%	0.11%
FANG	C	0.1%	0.05%	0.05%
FAST	F	0.07%	0.06%	0.06%
FCNCA	C	0.08%	0.02%	0.02%
FCX	D	0.03%	0.16%	0.03%
FDX	A	0.07%	0.35%	0.07%
FE	D	0.01%	0.09%	0.01%
FFIV	C	0.12%	0.03%	0.03%
FIS	B	0.02%	0.12%	0.02%
FITB	C	0.03%	0.11%	0.03%
FNF	C	0.01%	0.06%	0.01%
FOXA	A	0.01%	0.08%	0.01%
FSLR	C	0.01%	0.02%	0.01%
FTNT	D	0.0%	0.02%	0.0%
FTV	D	0.01%	0.03%	0.01%
GD	C	0.19%	0.23%	0.19%
GDDY	B	0.2%	0.02%	0.02%
GE	D	0.29%	0.17%	0.17%
GEHC	D	0.02%	0.07%	0.02%
GEV	B	0.01%	0.04%	0.01%
GGG	D	0.02%	0.02%	0.02%
GILD	C	0.2%	0.3%	0.2%
GIS	D	0.34%	0.12%	0.12%
GLPI	B	0.01%	0.02%	0.01%
GLW	B	0.02%	0.13%	0.02%
GM	B	0.16%	0.71%	0.16%
GOOG	B	1.05%	1.31%	1.05%
GOOGL	B	1.19%	1.5%	1.19%
GPC	D	0.06%	0.06%	0.06%
GPN	D	0.02%	0.07%	0.02%
GRMN	B	0.04%	0.04%	0.04%
GS	B	0.13%	0.54%	0.13%
GWW	D	0.09%	0.07%	0.07%
HAL	D	0.02%	0.07%	0.02%
HBAN	C	0.02%	0.06%	0.02%
HCA	C	0.04%	0.23%	0.04%
HD	B	0.13%	0.73%	0.13%
HES	D	0.01%	0.05%	0.01%
HIG	B	0.03%	0.14%	0.03%
HII	D	0.01%	0.04%	0.01%
HLT	A	0.01%	0.06%	0.01%
HOLX	C	0.01%	0.04%	0.01%
HON	B	0.26%	0.37%	0.26%
HPE	B	0.04%	0.23%	0.04%
HPQ	B	0.04%	0.21%	0.04%
HRL	F	0.1%	0.03%	0.03%
HSIC	F	0.01%	0.04%	0.01%
HST	D	0.01%	0.04%	0.01%
HSY	F	0.17%	0.04%	0.04%
HUBB	D	0.03%	0.03%	0.03%
HUM	C	0.21%	0.24%	0.21%
HWM	C	0.01%	0.06%	0.01%
IBM	B	0.4%	0.51%	0.4%
ICE	A	0.03%	0.11%	0.03%
IDXX	D	0.09%	0.03%	0.03%
IEX	D	0.02%	0.02%	0.02%
IFF	B	0.01%	0.06%	0.01%
ILMN	F	0.0%	0.02%	0.0%
INTC	F	0.13%	0.97%	0.13%
INTU	B	0.26%	0.11%	0.11%
INVH	A	0.01%	0.03%	0.01%
IP	B	0.02%	0.14%	0.02%
IPG	F	0.02%	0.04%	0.02%
IQV	F	0.01%	0.08%	0.01%
IR	C	0.01%	0.03%	0.01%
IRM	A	0.01%	0.06%	0.01%
ISRG	A	0.22%	0.08%	0.08%
IT	B	0.03%	0.03%	0.03%
ITW	D	0.12%	0.14%	0.12%
J	D	0.01%	0.06%	0.01%
JBHT	F	0.02%	0.04%	0.02%
JBL	F	0.01%	0.05%	0.01%
JCI	C	0.02%	0.14%	0.02%
JKHY	B	0.06%	0.02%	0.02%
JNJ	F	1.09%	0.91%	0.91%
JNPR	B	0.12%	0.05%	0.05%
JPM	A	0.51%	1.93%	0.51%
K	D	0.17%	0.05%	0.05%
KDP	C	0.15%	0.08%	0.08%
KEY	C	0.02%	0.08%	0.02%
KEYS	D	0.16%	0.03%	0.03%
KHC	D	0.21%	0.1%	0.1%
KIM	B	0.01%	0.03%	0.01%
KKR	B	0.02%	0.1%	0.02%
KLAC	B	0.2%	0.11%	0.11%
KMB	B	0.12%	0.11%	0.11%
KMI	A	0.03%	0.19%	0.03%
KMX	B	0.02%	0.06%	0.02%
KNX	C	0.01%	0.04%	0.01%
KO	A	0.61%	0.4%	0.4%
KR	D	0.27%	0.27%	0.27%
KVUE	F	0.07%	0.02%	0.02%
L	D	0.16%	0.05%	0.05%
LDOS	B	0.01%	0.07%	0.01%
LEN	D	0.08%	0.16%	0.08%
LHX	A	0.02%	0.16%	0.02%
LII	B	0.0%	0.03%	0.0%
LIN	B	0.06%	0.34%	0.06%
LKQ	F	0.01%	0.05%	0.01%
LLY	A	1.44%	0.27%	0.27%
LMT	A	0.38%	0.34%	0.34%
LNG	B	0.05%	0.05%	0.05%
LNT	C	0.02%	0.04%	0.02%
LOW	D	0.06%	0.37%	0.06%
LPLA	B	0.04%	0.04%	0.04%
LRCX	B	0.28%	0.23%	0.23%
LULU	F	0.07%	0.02%	0.02%
LUV	B	0.0%	0.02%	0.0%
LVS	F	0.0%	0.03%	0.0%
LW	F	0.0%	0.02%	0.0%
LYB	C	0.03%	0.16%	0.03%
MA	D	0.63%	0.26%	0.26%
MAA	B	0.01%	0.03%	0.01%
MAR	B	0.01%	0.08%	0.01%
MAS	D	0.01%	0.05%	0.01%
MCD	D	0.38%	0.31%	0.31%
MCHP	C	0.08%	0.06%	0.06%
MCK	B	0.58%	0.12%	0.12%
MCO	A	0.12%	0.07%	0.07%
MDLZ	D	0.15%	0.21%	0.15%
MDT	D	0.06%	0.25%	0.06%
MET	D	0.04%	0.25%	0.04%
META	B	2.05%	1.88%	1.88%
MGM	B	0.01%	0.07%	0.01%
MKC	D	0.01%	0.03%	0.01%
MKL	C	0.13%	0.05%	0.05%
MLM	D	0.01%	0.04%	0.01%
MMC	B	0.51%	0.14%	0.14%
MMM	B	0.12%	0.32%	0.12%
MNST	D	0.07%	0.04%	0.04%
MO	B	0.03%	0.34%	0.03%
MOH	F	0.06%	0.04%	0.04%
MOS	D	0.02%	0.07%	0.02%
MPC	D	0.2%	0.46%	0.2%
MRK	C	0.59%	0.59%	0.59%
MRNA	D	0.03%	0.07%	0.03%
MRO	B	0.02%	0.09%	0.02%
MRVL	C	0.01%	0.04%	0.01%
MS	B	0.09%	0.36%	0.09%
MSCI	F	0.0%	0.02%	0.0%
MSFT	B	2.6%	2.77%	2.6%
MSI	A	0.53%	0.06%	0.06%
MTB	B	0.03%	0.09%	0.03%
MU	C	0.05%	0.55%	0.05%
NDAQ	C	0.01%	0.03%	0.01%
NDSN	D	0.02%	0.02%	0.02%
NEE	D	0.06%	0.26%	0.06%
NEM	B	0.04%	0.16%	0.04%
NFLX	B	0.47%	0.15%	0.15%
NI	B	0.01%	0.04%	0.01%
NKE	F	0.21%	0.22%	0.21%
NOC	D	0.29%	0.18%	0.18%
NOW	B	0.01%	0.01%	0.01%
NRG	C	0.01%	0.11%	0.01%
NSC	F	0.02%	0.18%	0.02%
NTAP	A	0.05%	0.09%	0.05%
NTRS	C	0.01%	0.07%	0.01%
NUE	D	0.05%	0.2%	0.05%
NVDA	B	2.3%	0.41%	0.41%
NVR	C	0.04%	0.07%	0.04%
NWSA	A	0.01%	0.04%	0.01%
NXPI	B	0.02%	0.09%	0.02%
O	D	0.02%	0.04%	0.02%
OC	C	0.03%	0.06%	0.03%
ODFL	D	0.07%	0.04%	0.04%
OKE	B	0.02%	0.12%	0.02%
OMC	D	0.04%	0.07%	0.04%
ON	F	0.01%	0.04%	0.01%
ORCL	B	0.2%	0.42%	0.2%
ORLY	B	0.22%	0.1%	0.1%
OTIS	B	0.01%	0.05%	0.01%
OVV	C	0.02%	0.06%	0.02%
OXY	C	0.04%	0.14%	0.04%
PANW	B	0.17%	0.03%	0.03%
PARA	D	0.01%	0.1%	0.01%
PAYX	D	0.09%	0.05%	0.05%
PCAR	D	0.11%	0.14%	0.11%
PCG	D	0.03%	0.03%	0.03%
PEG	B	0.02%	0.1%	0.02%
PEP	D	0.84%	0.44%	0.44%
PFE	C	0.21%	0.73%	0.21%
PFG	D	0.02%	0.08%	0.02%
PG	C	0.97%	0.83%	0.83%
PGR	D	0.3%	0.22%	0.22%
PH	C	0.02%	0.1%	0.02%
PHM	D	0.05%	0.11%	0.05%
PKG	B	0.03%	0.06%	0.03%
PLD	C	0.05%	0.07%	0.05%
PM	B	0.06%	0.43%	0.06%
PNC	C	0.07%	0.25%	0.07%
PNR	D	0.02%	0.03%	0.02%
POOL	F	0.02%	0.02%	0.02%
PPG	D	0.02%	0.08%	0.02%
PPL	D	0.01%	0.1%	0.01%
PRU	B	0.04%	0.24%	0.04%
PSA	B	0.07%	0.05%	0.05%
PSX	D	0.15%	0.41%	0.15%
PWR	C	0.01%	0.07%	0.01%
PYPL	F	0.03%	0.16%	0.03%
QCOM	C	0.41%	0.57%	0.41%
QRVO	B	0.01%	0.05%	0.01%
REG	B	0.01%	0.02%	0.01%
REGN	B	0.44%	0.15%	0.15%
RF	C	0.03%	0.07%	0.03%
RJF	C	0.01%	0.04%	0.01%
RMD	D	0.04%	0.03%	0.03%
ROK	D	0.06%	0.06%	0.06%
ROP	A	0.51%	0.06%	0.06%
ROST	B	0.02%	0.08%	0.02%
RPM	D	0.0%	0.03%	0.0%
RS	D	0.01%	0.08%	0.01%
RSG	A	0.45%	0.07%	0.07%
RTX	D	0.08%	0.32%	0.08%
SBAC	D	0.01%	0.02%	0.01%
SBUX	F	0.03%	0.23%	0.03%
SCHW	C	0.04%	0.12%	0.04%
SEIC	D	0.01%	0.02%	0.01%
SHW	D	0.11%	0.07%	0.07%
SJM	F	0.07%	0.06%	0.06%
SLB	D	0.03%	0.14%	0.03%
SNA	D	0.03%	0.04%	0.03%
SNPS	B	0.14%	0.04%	0.04%
SO	B	0.42%	0.26%	0.26%
SOLV	F	0.02%	0.03%	0.02%
SPG	B	0.02%	0.1%	0.02%
SPGI	B	0.03%	0.13%	0.03%
SQ	D	0.01%	0.02%	0.01%
SRE	B	0.03%	0.12%	0.03%
SSNC	B	0.01%	0.03%	0.01%
STE	C	0.01%	0.03%	0.01%
STLD	C	0.02%	0.1%	0.02%
STT	C	0.03%	0.09%	0.03%
STX	B	0.01%	0.11%	0.01%
STZ	B	0.01%	0.08%	0.01%
SUI	C	0.01%	0.02%	0.01%
SWK	F	0.01%	0.07%	0.01%
SWKS	B	0.03%	0.05%	0.03%
SYF	A	0.03%	0.27%	0.03%
SYK	B	0.03%	0.12%	0.03%
SYY	D	0.03%	0.1%	0.03%
T	A	0.33%	1.22%	0.33%
TAP	F	0.01%	0.05%	0.01%
TDG	C	0.01%	0.08%	0.01%
TDY	D	0.05%	0.02%	0.02%
TEL	B	0.09%	0.11%	0.09%
TER	B	0.04%	0.06%	0.04%
TFC	C	0.07%	0.21%	0.07%
TFX	D	0.0%	0.02%	0.0%
TGT	D	0.15%	0.38%	0.15%
TJX	A	0.33%	0.23%	0.23%
TMO	D	0.07%	0.27%	0.07%
TMUS	B	0.59%	0.21%	0.21%
TRGP	A	0.03%	0.05%	0.03%
TRMB	C	0.01%	0.03%	0.01%
TROW	B	0.05%	0.13%	0.05%
TRU	C	0.01%	0.02%	0.01%
TRV	D	0.25%	0.27%	0.25%
TSCO	C	0.05%	0.06%	0.05%
TSLA	C	0.1%	0.16%	0.1%
TSN	C	0.13%	0.19%	0.13%
TT	B	0.13%	0.08%	0.08%
TTC	B	0.02%	0.02%	0.02%
TTWO	B	0.01%	0.03%	0.01%
TXN	B	0.48%	0.35%	0.35%
TXT	D	0.01%	0.06%	0.01%
UBER	B	0.01%	0.04%	0.01%
UDR	B	0.0%	0.02%	0.0%
UHAL	D	0.0%	0.0%	0.0%
UHAL	D	0.0%	0.02%	0.0%
UHS	B	0.01%	0.09%	0.01%
ULTA	F	0.07%	0.03%	0.03%
UNH	C	1.15%	1.06%	1.06%
UNP	D	0.26%	0.37%	0.26%
UPS	D	0.07%	0.27%	0.07%
URI	C	0.02%	0.11%	0.02%
USB	C	0.08%	0.28%	0.08%
V	D	1.08%	0.33%	0.33%
VICI	C	0.02%	0.02%	0.02%
VLO	C	0.09%	0.45%	0.09%
VMC	D	0.01%	0.04%	0.01%
VRSK	A	0.01%	0.04%	0.01%
VRSN	C	0.14%	0.01%	0.01%
VRTX	B	0.45%	0.08%	0.08%
VST	C	0.01%	0.13%	0.01%
VTR	A	0.01%	0.07%	0.01%
VTRS	D	0.02%	0.09%	0.02%
VZ	B	0.59%	1.26%	0.59%
WAB	D	0.01%	0.06%	0.01%
WAT	F	0.03%	0.03%	0.03%
WBA	F	0.06%	0.19%	0.06%
WBD	D	0.05%	0.06%	0.05%
WDC	B	0.01%	0.17%	0.01%
WEC	D	0.17%	0.07%	0.07%
WELL	A	0.02%	0.09%	0.02%
WFC	C	0.23%	1.22%	0.23%
WLK	D	0.0%	0.02%	0.0%
WM	A	0.53%	0.16%	0.16%
WMB	A	0.15%	0.14%	0.14%
WMT	A	0.64%	1.32%	0.64%
WPC	D	0.01%	0.02%	0.01%
WRB	C	0.13%	0.03%	0.03%
WRK	D	0.02%	0.12%	0.02%
WSM	C	0.04%	0.06%	0.04%
WSO	C	0.03%	0.03%	0.03%
WST	D	0.04%	0.02%	0.02%
WTRG	C	0.01%	0.01%	0.01%
WTW	B	0.06%	0.06%	0.06%
WY	F	0.02%	0.08%	0.02%
XEL	D	0.07%	0.1%	0.07%
XOM	C	0.47%	2.04%	0.47%
XRX	F	0.0%	0.03%	0.0%
XYL	C	0.01%	0.04%	0.01%
YUM	D	0.15%	0.08%	0.08%
ZBH	D	0.01%	0.05%	0.01%
ZBRA	C	0.0%	0.03%	0.0%
ZTS	C	0.16%	0.08%	0.08%

QWLD Overweight 105 Positions Relative to FNDX

Symbol	Grade	Weight
NVS	A	0.85%
UL	B	0.27%
WCN	A	0.27%
MFG	A	0.21%
TM	D	0.17%
DEO	F	0.13%
STLA	F	0.13%
NBIX	C	0.13%
MUFG	C	0.13%
UTHR	A	0.13%
E	D	0.13%
TD	F	0.12%
INCY	B	0.12%
ERIE	C	0.11%
CNI	D	0.11%
BCS	C	0.1%
BMRN	C	0.1%
SMFG	A	0.1%
LYG	B	0.09%
PTC	C	0.08%
LOGI	B	0.08%
SONY	C	0.08%
ROL	B	0.08%
HMC	D	0.08%
SMCI	C	0.07%
MPWR	B	0.06%
MT	F	0.05%
VLTO	C	0.05%
MANH	B	0.04%
WDAY	D	0.04%
VEEV	F	0.04%
BTI	B	0.04%
FICO	A	0.03%
ENPH	F	0.03%
TPL	B	0.03%
LSCC	F	0.02%
NMR	C	0.02%
FDS	D	0.02%
OTEX	D	0.01%
COIN	C	0.01%
RPRX	F	0.01%
ZM	D	0.01%
SE	B	0.01%
WFG	D	0.01%
PCTY	F	0.01%
CHRD	C	0.01%
ABNB	C	0.01%
BSY	D	0.01%
MKTX	F	0.01%
PAYC	F	0.01%
CFLT	C	0.0%
IOT	D	0.0%
GLBE	B	0.0%
RBLX	B	0.0%
PATH	F	0.0%
TOST	B	0.0%
NET	B	0.0%
DKNG	D	0.0%
RGEN	D	0.0%
DDOG	B	0.0%
FUTU	D	0.0%
U	F	0.0%
H	B	0.0%
DAY	F	0.0%
DOCU	D	0.0%
HEI	B	0.0%
APP	B	0.0%
DT	F	0.0%
GRAB	C	0.0%
PSTG	B	0.0%
SNAP	B	0.0%
PODD	C	0.0%
EXAS	F	0.0%
ROKU	D	0.0%
PLTR	B	0.0%
WYNN	D	0.0%
SNOW	D	0.0%
HOOD	B	0.0%
Z	C	0.0%
TECH	D	0.0%
TTD	A	0.0%
TYL	A	0.0%
AXON	C	0.0%
PINS	B	0.0%
ETSY	F	0.0%
TW	C	0.0%
ELS	B	0.0%
HEI	B	0.0%
LYV	C	0.0%
OKTA	C	0.0%
CRWD	B	0.0%
VRT	D	0.0%
DASH	D	0.0%
DXCM	F	0.0%
MTCH	F	0.0%
BIO	F	0.0%
RCL	A	0.0%
QGEN	D	0.0%
ENTG	B	0.0%
ARES	D	0.0%
TWLO	D	0.0%
RIVN	C	0.0%
CSGP	D	0.0%
AMH	A	0.0%
FOX	A	0.0%

QWLD Underweight 214 Positions Relative to FNDX

Symbol	Grade	Weight
LUMN	F	-0.1%
JLL	B	-0.08%
AVT	C	-0.08%
X	D	-0.08%
ARW	F	-0.08%
KSS	D	-0.08%
USFD	B	-0.07%
OGN	B	-0.07%
M	C	-0.07%
WHR	C	-0.07%
THC	B	-0.07%
CASY	B	-0.06%
OMF	C	-0.06%
KD	B	-0.06%
AA	C	-0.06%
LNC	B	-0.06%
R	B	-0.06%
LEA	F	-0.06%
DXC	C	-0.05%
PVH	F	-0.05%
JEF	A	-0.05%
TOL	D	-0.05%
UNM	C	-0.05%
GPS	C	-0.05%
ZION	C	-0.05%
BWA	F	-0.05%
PFGC	D	-0.05%
VFC	C	-0.05%
LAD	D	-0.05%
AN	D	-0.05%
MAN	F	-0.05%
CMA	C	-0.05%
ZIM	B	-0.05%
MHK	C	-0.05%
FLEX	C	-0.05%
FL	C	-0.04%
THO	D	-0.04%
AYI	D	-0.04%
DOX	D	-0.04%
SLM	C	-0.04%
FAF	D	-0.04%
OSK	C	-0.04%
MTD	B	-0.04%
HUN	F	-0.04%
ALSN	C	-0.04%
BERY	D	-0.04%
TPR	B	-0.04%
SFM	A	-0.04%
WU	D	-0.04%
PNW	C	-0.04%
TDS	B	-0.04%
GPI	D	-0.04%
INGR	D	-0.04%
PBF	D	-0.04%
AAP	F	-0.04%
IVZ	D	-0.04%
GT	F	-0.04%
RGA	B	-0.04%
MUSA	B	-0.04%
ORI	C	-0.04%
UGI	C	-0.04%
MLI	C	-0.03%
BC	F	-0.03%
NVT	D	-0.03%
ITT	C	-0.03%
SLG	B	-0.03%
LSTR	B	-0.03%
BJ	B	-0.03%
HBI	C	-0.03%
FLR	B	-0.03%
RRX	F	-0.03%
PK	C	-0.03%
GL	C	-0.03%
SON	F	-0.03%
CAR	F	-0.03%
JHG	B	-0.03%
SKX	B	-0.03%
SEE	D	-0.03%
SNX	C	-0.03%
TPH	C	-0.03%
NOV	B	-0.03%
VOYA	D	-0.03%
FMC	D	-0.03%
FHN	C	-0.03%
OGE	C	-0.03%
KBH	B	-0.03%
AR	D	-0.03%
QRTEA	F	-0.03%
ARMK	A	-0.03%
ALV	D	-0.03%
FYBR	B	-0.03%
GNW	D	-0.03%
RL	B	-0.03%
CMC	C	-0.03%
MTH	D	-0.03%
GPK	D	-0.03%
GNTX	D	-0.03%
SWN	D	-0.03%
LPX	C	-0.03%
MTZ	C	-0.03%
CACI	B	-0.03%
HAS	C	-0.03%
BCC	F	-0.03%
NXST	C	-0.03%
CNO	C	-0.03%
UFPI	D	-0.03%
WCC	F	-0.03%
SANM	B	-0.03%
TMHC	C	-0.03%
AMG	C	-0.03%
RHI	F	-0.03%
OLN	F	-0.03%
VNO	B	-0.03%
BAP	C	-0.03%
EVR	A	-0.03%
JXN	C	-0.03%
LILAK	A	-0.02%
OI	F	-0.02%
CNX	C	-0.02%
BLD	D	-0.02%
MTN	D	-0.02%
VAC	D	-0.02%
DK	D	-0.02%
MIDD	F	-0.02%
CRI	F	-0.02%
PRGO	F	-0.02%
ADNT	F	-0.02%
GXO	D	-0.02%
RUSHA	F	-0.02%
WERN	D	-0.02%
XRAY	F	-0.02%
FLO	D	-0.02%
POR	C	-0.02%
FTI	C	-0.02%
HRB	A	-0.02%
MPW	F	-0.02%
ICLR	C	-0.02%
TGNA	D	-0.02%
TPX	D	-0.02%
HUBG	B	-0.02%
PENN	C	-0.02%
LECO	D	-0.02%
JWN	B	-0.02%
DAN	F	-0.02%
NFG	D	-0.02%
GNRC	D	-0.02%
TKR	D	-0.02%
ETRN	D	-0.02%
REZI	C	-0.02%
ASGN	D	-0.02%
SM	D	-0.02%
ASO	F	-0.02%
EXP	D	-0.02%
BECN	D	-0.02%
NAVI	D	-0.02%
DAR	D	-0.02%
KBR	C	-0.02%
G	D	-0.02%
BRX	B	-0.02%
POST	C	-0.02%
PAG	D	-0.02%
ODP	D	-0.02%
STWD	C	-0.02%
CPRI	D	-0.02%
BTU	F	-0.02%
SNV	A	-0.02%
AL	C	-0.02%
THG	C	-0.02%
ATR	D	-0.02%
PRI	B	-0.02%
MKSI	B	-0.02%
AXTA	D	-0.02%
DCI	D	-0.02%
MTG	B	-0.02%
MDU	B	-0.02%
EHC	B	-0.02%
LAMR	A	-0.02%
ABM	B	-0.02%
PII	F	-0.02%
CIEN	C	-0.02%
ST	D	-0.02%
CW	B	-0.02%
HOG	D	-0.02%
SAIC	D	-0.02%
CC	F	-0.02%
ABG	C	-0.02%
NSIT	B	-0.02%
NWL	F	-0.02%
SCI	B	-0.02%
MUR	D	-0.02%
EWBC	C	-0.02%
BPOP	C	-0.02%
BIG	F	-0.01%
CNXC	D	-0.01%
ALK	D	-0.01%
COHR	B	-0.01%
HTZ	F	-0.01%
MATX	A	-0.01%
NYCB	F	-0.01%
DBX	D	-0.01%
ANDE	D	-0.01%
CYH	D	-0.01%
MSM	D	-0.01%
VSH	D	-0.01%
JAZZ	F	-0.01%
CHE	D	-0.01%
SPTN	F	-0.01%
LEG	F	-0.01%
MMS	B	-0.01%
UNFI	C	-0.01%
ARCH	F	-0.01%
AEO	F	-0.01%
TNL	B	-0.01%
AAL	F	-0.0%