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

$127.97

Average Daily Volume

3,476

Number of Holdings ^*

610

* 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

$24.64

Average Daily Volume

1,178,356

Number of Holdings ^*

721

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	FNDX
30 Days	-0.47%	2.37%
60 Days	0.20%	4.07%
90 Days	0.50%	5.72%
12 Months	22.20%	28.68%

508 Overlapping Holdings

	Symbol	Grade	Weight in QWLD	Weight in FNDX	Overlap
	A	D	0.06%	0.05%	0.05%
	AAPL	C	2.57%	4.35%	2.57%
	ABBV	F	0.34%	0.49%	0.34%
	ABBV	F	0.16%	0.49%	0.16%
	ABT	B	0.09%	0.34%	0.09%
	ACGL	C	0.26%	0.03%	0.03%
	ACI	C	0.02%	0.03%	0.02%
	ACM	B	0.01%	0.05%	0.01%
	ACN	B	0.65%	0.36%	0.36%
	ADBE	C	0.42%	0.2%	0.2%
	ADI	D	0.04%	0.13%	0.04%
	ADM	D	0.05%	0.21%	0.05%
	ADP	A	0.26%	0.15%	0.15%
	ADSK	A	0.1%	0.03%	0.03%
	AEE	A	0.09%	0.07%	0.07%
	AEP	C	0.07%	0.16%	0.07%
	AER	A	0.02%	0.02%	0.02%
	AES	F	0.01%	0.05%	0.01%
	AFG	A	0.02%	0.05%	0.02%
	AFL	B	0.12%	0.21%	0.12%
	AGCO	D	0.01%	0.03%	0.01%
	AIG	B	0.07%	0.28%	0.07%
	AIZ	A	0.08%	0.03%	0.03%
	AJG	A	0.19%	0.05%	0.05%
	AKAM	D	0.11%	0.03%	0.03%
	ALB	B	0.01%	0.03%	0.01%
	ALGN	D	0.0%	0.02%	0.0%
	ALL	A	0.08%	0.27%	0.08%
	ALLE	C	0.02%	0.01%	0.01%
	ALLY	C	0.02%	0.1%	0.02%
	AMAT	F	0.29%	0.24%	0.24%
	AMCR	C	0.08%	0.03%	0.03%
	AMD	F	0.03%	0.09%	0.03%
	AME	A	0.01%	0.05%	0.01%
	AMGN	F	0.16%	0.39%	0.16%
	AMP	A	0.09%	0.15%	0.09%
	AMT	C	0.02%	0.11%	0.02%
	AMZN	C	0.37%	1.56%	0.37%
	ANET	C	0.19%	0.04%	0.04%
	ANSS	B	0.0%	0.02%	0.0%
	AON	A	0.17%	0.13%	0.13%
	AOS	F	0.02%	0.02%	0.02%
	APA	D	0.02%	0.03%	0.02%
	APD	A	0.03%	0.13%	0.03%
	APH	A	0.43%	0.09%	0.09%
	APO	B	0.02%	0.03%	0.02%
	APTV	F	0.01%	0.02%	0.01%
	ARE	F	0.01%	0.03%	0.01%
	ATO	A	0.01%	0.04%	0.01%
	AVB	B	0.01%	0.05%	0.01%
	AVGO	D	0.11%	0.61%	0.11%
	AVTR	F	0.01%	0.02%	0.01%
	AVY	F	0.03%	0.04%	0.03%
	AWK	C	0.01%	0.04%	0.01%
	AXP	A	0.06%	0.36%	0.06%
	AZO	C	0.28%	0.06%	0.06%
	BA	F	0.01%	0.11%	0.01%
	BAC	A	0.39%	1.3%	0.39%
	BAH	F	0.15%	0.03%	0.03%
	BALL	F	0.01%	0.06%	0.01%
	BAX	F	0.01%	0.07%	0.01%
	BBWI	C	0.0%	0.03%	0.0%
	BBY	D	0.06%	0.16%	0.06%
	BDX	F	0.07%	0.11%	0.07%
	BEN	C	0.01%	0.04%	0.01%
	BG	D	0.03%	0.1%	0.03%
	BIIB	F	0.01%	0.09%	0.01%
	BK	A	0.05%	0.26%	0.05%
	BKNG	A	0.03%	0.24%	0.03%
	BKR	A	0.02%	0.16%	0.02%
	BLDR	D	0.05%	0.06%	0.05%
	BLK	B	0.25%	0.28%	0.25%
	BMY	B	0.21%	0.45%	0.21%
	BR	A	0.04%	0.03%	0.03%
	BRK.A	B	0.73%	2.17%	0.73%
	BRO	B	0.14%	0.02%	0.02%
	BSX	A	0.02%	0.09%	0.02%
	BURL	B	0.01%	0.03%	0.01%
	BX	A	0.03%	0.13%	0.03%
	BXP	C	0.01%	0.05%	0.01%
	C	A	0.25%	1.1%	0.25%
	CAG	F	0.04%	0.06%	0.04%
	CAH	B	0.13%	0.07%	0.07%
	CARR	C	0.02%	0.12%	0.02%
	CAT	B	0.36%	0.41%	0.36%
	CB	C	0.4%	0.26%	0.26%
	CBOE	C	0.24%	0.01%	0.01%
	CBRE	B	0.03%	0.13%	0.03%
	CCEP	C	0.01%	0.02%	0.01%
	CCI	C	0.01%	0.09%	0.01%
	CCK	D	0.01%	0.04%	0.01%
	CCL	A	0.01%	0.06%	0.01%
	CDNS	B	0.13%	0.03%	0.03%
	CDW	F	0.07%	0.04%	0.04%
	CE	F	0.01%	0.03%	0.01%
	CEG	C	0.02%	0.1%	0.02%
	CF	A	0.13%	0.07%	0.07%
	CFG	B	0.04%	0.1%	0.04%
	CG	B	0.01%	0.03%	0.01%
	CHD	A	0.19%	0.04%	0.04%
	CHKP	C	0.17%	0.02%	0.02%
	CHRW	B	0.01%	0.08%	0.01%
	CHTR	C	0.05%	0.35%	0.05%
	CI	D	0.18%	0.48%	0.18%
	CINF	A	0.02%	0.07%	0.02%
	CL	D	0.2%	0.13%	0.13%
	CLX	A	0.01%	0.04%	0.01%
	CMCSA	B	0.17%	0.83%	0.17%
	CME	B	0.16%	0.08%	0.08%
	CMG	B	0.14%	0.04%	0.04%
	CMI	A	0.1%	0.19%	0.1%
	CMS	C	0.05%	0.06%	0.05%
	CNC	D	0.05%	0.19%	0.05%
	CNH	C	0.01%	0.02%	0.01%
	CNP	A	0.01%	0.06%	0.01%
	COF	C	0.1%	0.48%	0.1%
	COP	C	0.1%	0.48%	0.1%
	COR	B	0.41%	0.02%	0.02%
	COST	A	0.76%	0.66%	0.66%
	CPAY	A	0.01%	0.06%	0.01%
	CPB	D	0.09%	0.03%	0.03%
	CPRT	B	0.08%	0.03%	0.03%
	CPT	B	0.01%	0.02%	0.01%
	CRBG	B	0.01%	0.04%	0.01%
	CRL	D	0.0%	0.01%	0.0%
	CRM	B	0.06%	0.15%	0.06%
	CSCO	B	1.03%	0.82%	0.82%
	CSL	C	0.03%	0.05%	0.03%
	CSX	C	0.11%	0.22%	0.11%
	CTAS	B	0.14%	0.08%	0.08%
	CTLT	C	0.01%	0.02%	0.01%
	CTRA	B	0.02%	0.03%	0.02%
	CTSH	B	0.2%	0.19%	0.19%
	CTVA	C	0.04%	0.09%	0.04%
	CVS	D	0.16%	0.68%	0.16%
	CVX	A	0.33%	1.25%	0.33%
	D	C	0.06%	0.17%	0.06%
	DAL	B	0.01%	0.03%	0.01%
	DD	C	0.02%	0.17%	0.02%
	DE	B	0.06%	0.23%	0.06%
	DECK	A	0.05%	0.03%	0.03%
	DELL	B	0.01%	0.03%	0.01%
	DFS	B	0.04%	0.26%	0.04%
	DG	F	0.01%	0.08%	0.01%
	DGX	A	0.11%	0.07%	0.07%
	DHI	F	0.1%	0.16%	0.1%
	DHR	F	0.05%	0.15%	0.05%
	DINO	D	0.05%	0.05%	0.05%
	DIS	B	0.1%	0.45%	0.1%
	DKS	D	0.02%	0.04%	0.02%
	DLR	B	0.02%	0.08%	0.02%
	DLTR	F	0.01%	0.05%	0.01%
	DOC	C	0.01%	0.03%	0.01%
	DOV	A	0.05%	0.06%	0.05%
	DOW	F	0.03%	0.18%	0.03%
	DPZ	C	0.06%	0.03%	0.03%
	DRI	B	0.03%	0.05%	0.03%
	DTE	C	0.02%	0.07%	0.02%
	DUK	C	0.36%	0.3%	0.3%
	DVA	C	0.01%	0.06%	0.01%
	DVN	F	0.03%	0.09%	0.03%
	EA	A	0.2%	0.09%	0.09%
	EBAY	D	0.01%	0.17%	0.01%
	ECL	D	0.01%	0.08%	0.01%
	ED	C	0.35%	0.12%	0.12%
	EFX	F	0.01%	0.03%	0.01%
	EG	C	0.06%	0.02%	0.02%
	EIX	B	0.03%	0.1%	0.03%
	EL	F	0.01%	0.03%	0.01%
	ELV	F	0.21%	0.36%	0.21%
	EME	A	0.04%	0.06%	0.04%
	EMN	C	0.01%	0.08%	0.01%
	EMR	B	0.03%	0.17%	0.03%
	EOG	A	0.06%	0.23%	0.06%
	EPAM	B	0.02%	0.02%	0.02%
	EQH	C	0.01%	0.05%	0.01%
	EQIX	A	0.02%	0.08%	0.02%
	EQR	C	0.01%	0.05%	0.01%
	EQT	B	0.02%	0.04%	0.02%
	ES	C	0.01%	0.08%	0.01%
	ESS	B	0.01%	0.03%	0.01%
	ETN	A	0.03%	0.23%	0.03%
	ETR	B	0.03%	0.12%	0.03%
	EVRG	A	0.01%	0.07%	0.01%
	EW	C	0.07%	0.04%	0.04%
	EXC	C	0.03%	0.17%	0.03%
	EXPD	C	0.04%	0.04%	0.04%
	EXPE	B	0.01%	0.04%	0.01%
	EXR	C	0.01%	0.03%	0.01%
	F	C	0.09%	0.33%	0.09%
	FANG	C	0.09%	0.05%	0.05%
	FAST	B	0.09%	0.07%	0.07%
	FBIN	D	0.0%	0.04%	0.0%
	FCNCA	A	0.11%	0.02%	0.02%
	FCX	F	0.02%	0.14%	0.02%
	FDX	B	0.07%	0.32%	0.07%
	FE	C	0.01%	0.09%	0.01%
	FFIV	B	0.16%	0.03%	0.03%
	FI	A	0.09%	0.13%	0.09%
	FIS	C	0.02%	0.12%	0.02%
	FITB	B	0.03%	0.13%	0.03%
	FNF	B	0.01%	0.06%	0.01%
	FOXA	A	0.01%	0.1%	0.01%
	FSLR	F	0.01%	0.01%	0.01%
	FTNT	C	0.01%	0.03%	0.01%
	FTV	C	0.01%	0.03%	0.01%
	GD	D	0.18%	0.21%	0.18%
	GDDY	A	0.25%	0.03%	0.03%
	GE	D	0.31%	0.15%	0.15%
	GEHC	D	0.02%	0.09%	0.02%
	GEN	B	0.12%	0.04%	0.04%
	GEV	B	0.02%	0.04%	0.02%
	GGG	B	0.03%	0.02%	0.02%
	GILD	C	0.24%	0.37%	0.24%
	GIS	D	0.33%	0.11%	0.11%
	GLPI	C	0.01%	0.02%	0.01%
	GLW	B	0.02%	0.14%	0.02%
	GM	C	0.19%	0.79%	0.19%
	GOOG	C	0.94%	1.14%	0.94%
	GOOGL	C	1.07%	1.33%	1.07%
	GPC	D	0.05%	0.05%	0.05%
	GPN	B	0.02%	0.09%	0.02%
	GRMN	B	0.05%	0.03%	0.03%
	GS	A	0.17%	0.62%	0.17%
	GWW	B	0.11%	0.08%	0.08%
	HAL	C	0.02%	0.06%	0.02%
	HBAN	A	0.03%	0.08%	0.03%
	HCA	F	0.04%	0.2%	0.04%
	HD	B	0.15%	0.8%	0.15%
	HES	B	0.01%	0.06%	0.01%
	HIG	B	0.03%	0.14%	0.03%
	HII	F	0.01%	0.03%	0.01%
	HLT	A	0.01%	0.06%	0.01%
	HOLX	D	0.01%	0.04%	0.01%
	HON	C	0.26%	0.37%	0.26%
	HPE	B	0.04%	0.21%	0.04%
	HPQ	B	0.04%	0.21%	0.04%
	HRL	D	0.09%	0.03%	0.03%
	HSIC	C	0.01%	0.04%	0.01%
	HST	C	0.01%	0.04%	0.01%
	HSY	F	0.16%	0.04%	0.04%
	HUBB	B	0.04%	0.03%	0.03%
	HUM	C	0.15%	0.19%	0.15%
	HWM	A	0.01%	0.07%	0.01%
	IBM	C	0.46%	0.54%	0.46%
	ICE	C	0.03%	0.11%	0.03%
	IDXX	F	0.07%	0.02%	0.02%
	IEX	C	0.03%	0.03%	0.03%
	IFF	D	0.01%	0.05%	0.01%
	ILMN	C	0.0%	0.03%	0.0%
	INTC	C	0.1%	0.89%	0.1%
	INTU	B	0.27%	0.11%	0.11%
	INVH	D	0.01%	0.03%	0.01%
	IP	A	0.02%	0.17%	0.02%
	IPG	D	0.02%	0.04%	0.02%
	IQV	F	0.01%	0.07%	0.01%
	IR	B	0.01%	0.03%	0.01%
	IRM	C	0.01%	0.06%	0.01%
	ISRG	A	0.25%	0.09%	0.09%
	IT	C	0.03%	0.03%	0.03%
	ITW	B	0.13%	0.15%	0.13%
	J	D	0.01%	0.05%	0.01%
	JBHT	C	0.03%	0.05%	0.03%
	JBL	C	0.02%	0.06%	0.02%
	JCI	B	0.03%	0.16%	0.03%
	JKHY	D	0.07%	0.02%	0.02%
	JNJ	C	1.1%	0.89%	0.89%
	JNPR	D	0.12%	0.05%	0.05%
	JPM	A	0.6%	2.03%	0.6%
	K	A	0.23%	0.07%	0.07%
	KDP	F	0.14%	0.07%	0.07%
	KEY	B	0.02%	0.1%	0.02%
	KEYS	A	0.17%	0.04%	0.04%
	KHC	F	0.2%	0.09%	0.09%
	KIM	A	0.01%	0.03%	0.01%
	KKR	A	0.02%	0.12%	0.02%
	KLAC	F	0.14%	0.08%	0.08%
	KMB	C	0.11%	0.1%	0.1%
	KMI	A	0.04%	0.23%	0.04%
	KMX	B	0.02%	0.06%	0.02%
	KNX	C	0.01%	0.04%	0.01%
	KO	D	0.56%	0.35%	0.35%
	KR	B	0.31%	0.3%	0.3%
	KVUE	A	0.08%	0.05%	0.05%
	L	A	0.17%	0.05%	0.05%
	LDOS	C	0.01%	0.07%	0.01%
	LEN	D	0.09%	0.16%	0.09%
	LH	B	0.02%	0.09%	0.02%
	LHX	C	0.02%	0.16%	0.02%
	LII	A	0.0%	0.03%	0.0%
	LIN	C	0.06%	0.33%	0.06%
	LKQ	F	0.01%	0.05%	0.01%
	LLY	F	1.14%	0.2%	0.2%
	LMT	D	0.42%	0.37%	0.37%
	LNG	A	0.06%	0.06%	0.06%
	LNT	A	0.03%	0.04%	0.03%
	LOW	C	0.07%	0.43%	0.07%
	LPLA	A	0.05%	0.04%	0.04%
	LRCX	F	0.18%	0.15%	0.15%
	LULU	C	0.07%	0.01%	0.01%
	LUV	C	0.0%	0.02%	0.0%
	LVS	B	0.0%	0.04%	0.0%
	LW	C	0.0%	0.02%	0.0%
	LYB	F	0.03%	0.14%	0.03%
	MA	B	0.71%	0.29%	0.29%
	MAA	B	0.01%	0.03%	0.01%
	MAR	A	0.01%	0.09%	0.01%
	MAS	D	0.01%	0.05%	0.01%
	MCD	D	0.42%	0.34%	0.34%
	MCHP	F	0.06%	0.05%	0.05%
	MCK	A	0.58%	0.11%	0.11%
	MCO	B	0.13%	0.07%	0.07%
	MDLZ	F	0.14%	0.2%	0.14%
	MDT	D	0.06%	0.16%	0.06%
	MET	A	0.05%	0.26%	0.05%
	META	D	2.11%	1.79%	1.79%
	MGM	D	0.01%	0.06%	0.01%
	MKC	C	0.01%	0.03%	0.01%
	MKL	A	0.13%	0.05%	0.05%
	MLM	C	0.01%	0.04%	0.01%
	MMC	B	0.51%	0.14%	0.14%
	MMM	D	0.14%	0.35%	0.14%
	MNST	C	0.07%	0.05%	0.05%
	MO	A	0.04%	0.37%	0.04%
	MOH	F	0.06%	0.05%	0.05%
	MOS	F	0.02%	0.06%	0.02%
	MPC	D	0.17%	0.4%	0.17%
	MRK	D	0.42%	0.42%	0.42%
	MRNA	F	0.01%	0.03%	0.01%
	MRO	B	0.02%	0.09%	0.02%
	MRVL	B	0.01%	0.04%	0.01%
	MS	A	0.12%	0.46%	0.12%
	MSCI	C	0.0%	0.03%	0.0%
	MSFT	D	2.3%	2.43%	2.3%
	MSI	B	0.65%	0.07%	0.07%
	MTB	A	0.05%	0.11%	0.05%
	MU	D	0.04%	0.38%	0.04%
	NDAQ	A	0.01%	0.03%	0.01%
	NDSN	B	0.02%	0.02%	0.02%
	NEE	C	0.06%	0.24%	0.06%
	NEM	D	0.04%	0.13%	0.04%
	NFLX	A	0.54%	0.17%	0.17%
	NI	A	0.01%	0.05%	0.01%
	NKE	F	0.17%	0.19%	0.17%
	NOC	D	0.32%	0.2%	0.2%
	NOW	A	0.01%	0.01%	0.01%
	NRG	B	0.02%	0.1%	0.02%
	NSC	B	0.03%	0.21%	0.03%
	NTAP	C	0.04%	0.07%	0.04%
	NTRS	A	0.02%	0.08%	0.02%
	NUE	C	0.04%	0.19%	0.04%
	NVDA	B	2.53%	0.4%	0.4%
	NVR	D	0.06%	0.08%	0.06%
	NWSA	A	0.01%	0.04%	0.01%
	NXPI	D	0.02%	0.05%	0.02%
	O	C	0.02%	0.04%	0.02%
	OC	A	0.03%	0.07%	0.03%
	ODFL	C	0.08%	0.06%	0.06%
	OKE	A	0.03%	0.14%	0.03%
	OMC	C	0.04%	0.08%	0.04%
	ON	D	0.01%	0.04%	0.01%
	ORCL	A	0.25%	0.5%	0.25%
	ORLY	B	0.24%	0.11%	0.11%
	OTIS	C	0.01%	0.05%	0.01%
	OVV	B	0.02%	0.06%	0.02%
	OXY	D	0.03%	0.11%	0.03%
	PANW	B	0.18%	0.03%	0.03%
	PARA	C	0.01%	0.11%	0.01%
	PAYX	B	0.1%	0.06%	0.06%
	PCAR	B	0.11%	0.15%	0.11%
	PCG	A	0.03%	0.03%	0.03%
	PEG	A	0.02%	0.11%	0.02%
	PEP	F	0.77%	0.41%	0.41%
	PFE	F	0.18%	0.68%	0.18%
	PFG	D	0.02%	0.09%	0.02%
	PG	C	0.95%	0.77%	0.77%
	PGR	A	0.35%	0.23%	0.23%
	PH	A	0.02%	0.13%	0.02%
	PHM	D	0.06%	0.11%	0.06%
	PKG	A	0.04%	0.07%	0.04%
	PLD	F	0.04%	0.07%	0.04%
	PM	B	0.07%	0.48%	0.07%
	PNC	B	0.1%	0.3%	0.1%
	PNR	A	0.03%	0.04%	0.03%
	POOL	C	0.03%	0.02%	0.02%
	PPG	F	0.01%	0.08%	0.01%
	PPL	A	0.01%	0.11%	0.01%
	PRU	A	0.05%	0.22%	0.05%
	PSA	C	0.09%	0.05%	0.05%
	PSX	C	0.14%	0.36%	0.14%
	PWR	A	0.01%	0.07%	0.01%
	PYPL	B	0.04%	0.22%	0.04%
	QCOM	F	0.32%	0.43%	0.32%
	QRVO	F	0.0%	0.03%	0.0%
	REG	A	0.01%	0.02%	0.01%
	REGN	F	0.31%	0.1%	0.1%
	RF	A	0.03%	0.09%	0.03%
	RJF	A	0.02%	0.05%	0.02%
	RMD	C	0.05%	0.03%	0.03%
	ROK	C	0.06%	0.06%	0.06%
	ROP	B	0.48%	0.05%	0.05%
	ROST	D	0.02%	0.07%	0.02%
	RPM	A	0.01%	0.04%	0.01%
	RS	B	0.02%	0.09%	0.02%
	RSG	A	0.46%	0.06%	0.06%
	RTX	D	0.09%	0.34%	0.09%
	RVTY	F	0.01%	0.03%	0.01%
	SBAC	D	0.01%	0.02%	0.01%
	SBUX	A	0.04%	0.28%	0.04%
	SCHW	B	0.04%	0.13%	0.04%
	SEIC	B	0.02%	0.03%	0.02%
	SHW	B	0.14%	0.08%	0.08%
	SJM	D	0.07%	0.05%	0.05%
	SLB	C	0.03%	0.12%	0.03%
	SNA	A	0.04%	0.06%	0.04%
	SNPS	B	0.12%	0.03%	0.03%
	SO	C	0.46%	0.26%	0.26%
	SOLV	D	0.03%	0.02%	0.02%
	SPG	A	0.02%	0.1%	0.02%
	SPGI	C	0.04%	0.15%	0.04%
	SQ	A	0.02%	0.03%	0.02%
	SRE	A	0.04%	0.13%	0.04%
	SSNC	B	0.01%	0.04%	0.01%
	STE	D	0.01%	0.03%	0.01%
	STLD	B	0.02%	0.11%	0.02%
	STT	B	0.03%	0.1%	0.03%
	STX	C	0.01%	0.09%	0.01%
	STZ	D	0.01%	0.07%	0.01%
	SUI	C	0.01%	0.02%	0.01%
	SW	A	0.03%	0.09%	0.03%
	SWK	D	0.01%	0.07%	0.01%
	SWKS	F	0.03%	0.04%	0.03%
	SYF	B	0.04%	0.34%	0.04%
	SYK	B	0.03%	0.13%	0.03%
	SYY	D	0.03%	0.1%	0.03%
	T	A	0.39%	1.27%	0.39%
	TAP	C	0.01%	0.05%	0.01%
	TDG	D	0.01%	0.06%	0.01%
	TDY	B	0.06%	0.03%	0.03%
	TER	F	0.02%	0.04%	0.02%
	TFC	A	0.09%	0.23%	0.09%
	TFX	F	0.0%	0.02%	0.0%
	TGT	F	0.15%	0.38%	0.15%
	TJX	A	0.35%	0.22%	0.22%
	TMO	F	0.06%	0.25%	0.06%
	TMUS	B	0.76%	0.25%	0.25%
	TRGP	A	0.04%	0.07%	0.04%
	TRMB	B	0.01%	0.03%	0.01%
	TROW	B	0.05%	0.13%	0.05%
	TRU	D	0.01%	0.03%	0.01%
	TRV	B	0.3%	0.31%	0.3%
	TSCO	D	0.06%	0.06%	0.06%
	TSLA	B	0.16%	0.28%	0.16%
	TSN	B	0.15%	0.2%	0.15%
	TT	A	0.15%	0.06%	0.06%
	TTC	C	0.02%	0.02%	0.02%
	TTWO	A	0.01%	0.03%	0.01%
	TXN	C	0.48%	0.34%	0.34%
	TXT	D	0.01%	0.06%	0.01%
	UBER	F	0.01%	0.04%	0.01%
	UDR	B	0.0%	0.02%	0.0%
	UHAL	D	0.0%	0.02%	0.0%
	UHS	D	0.01%	0.08%	0.01%
	ULTA	F	0.06%	0.03%	0.03%
	UNH	B	1.35%	1.22%	1.22%
	UNP	C	0.26%	0.35%	0.26%
	UPS	C	0.07%	0.28%	0.07%
	URI	C	0.02%	0.13%	0.02%
	USB	A	0.09%	0.32%	0.09%
	V	A	1.21%	0.36%	0.36%
	VICI	C	0.02%	0.02%	0.02%
	VLO	C	0.08%	0.39%	0.08%
	VMC	B	0.01%	0.05%	0.01%
	VRSK	A	0.01%	0.04%	0.01%
	VRSN	C	0.14%	0.01%	0.01%
	VRTX	D	0.43%	0.07%	0.07%
	VST	A	0.01%	0.16%	0.01%
	VTR	B	0.01%	0.08%	0.01%
	VTRS	A	0.03%	0.1%	0.03%
	VZ	C	0.58%	1.13%	0.58%
	WAB	B	0.01%	0.06%	0.01%
	WAT	C	0.04%	0.04%	0.04%
	WBA	F	0.04%	0.17%	0.04%
	WBD	B	0.07%	0.08%	0.07%
	WDC	D	0.01%	0.12%	0.01%
	WEC	A	0.2%	0.08%	0.08%
	WELL	A	0.02%	0.1%	0.02%
	WFC	A	0.28%	1.35%	0.28%
	WLK	D	0.0%	0.02%	0.0%
	WM	B	0.52%	0.15%	0.15%
	WMB	A	0.19%	0.17%	0.17%
	WMT	A	0.76%	1.47%	0.76%
	WPC	C	0.01%	0.02%	0.01%
	WRB	A	0.14%	0.03%	0.03%
	WSM	C	0.03%	0.04%	0.03%
	WSO	A	0.03%	0.03%	0.03%
	WST	C	0.04%	0.02%	0.02%
	WTRG	B	0.01%	0.01%	0.01%
	WTW	B	0.07%	0.07%	0.07%
	WY	F	0.02%	0.09%	0.02%
	XEL	A	0.09%	0.12%	0.09%
	XOM	B	0.47%	1.99%	0.47%
	XRX	F	0.0%	0.02%	0.0%
	XYL	D	0.01%	0.03%	0.01%
	YUM	D	0.15%	0.08%	0.08%
	ZBH	C	0.01%	0.05%	0.01%
	ZBRA	B	0.01%	0.04%	0.01%
	ZTS	D	0.15%	0.07%	0.07%

QWLD Overweight 102 Positions Relative to FNDX

	Symbol	Grade	Weight
	NVS	F	0.79%
	UL	D	0.27%
	WCN	A	0.27%
	HSBH	B	0.25%
	MFG	A	0.24%
	TM	F	0.15%
	UTHR	C	0.15%
	INCY	C	0.15%
	MUFG	B	0.14%
	ERIE	D	0.12%
	TD	D	0.12%
	E	F	0.12%
	NBIX	C	0.11%
	BCS	A	0.11%
	DEO	F	0.11%
	CNI	F	0.1%
	SMFG	B	0.1%
	LYG	D	0.09%
	PTC	B	0.08%
	ROL	B	0.08%
	SONY	B	0.08%
	STLA	F	0.08%
	HMC	F	0.07%
	BMRN	F	0.07%
	TPL	A	0.06%
	LOGI	D	0.06%
	VEEV	C	0.05%
	BTI	B	0.05%
	VLTO	C	0.05%
	FICO	B	0.05%
	MT	B	0.05%
	MANH	D	0.04%
	MPWR	F	0.04%
	WDAY	B	0.04%
	FDS	B	0.03%
	MKTX	D	0.02%
	NMR	B	0.02%
	PAYC	B	0.02%
	DASH	B	0.01%
	RPRX	D	0.01%
	MBAVU	C	0.01%
	RCL	A	0.01%
	FOX	A	0.01%
	TWLO	A	0.01%
	COIN	C	0.01%
	ZM	C	0.01%
	CHRD	D	0.01%
	WFG	C	0.01%
	ABNB	C	0.01%
	SE	A	0.01%
	BSY	F	0.01%
	MELI	C	0.01%
	SMCI	F	0.01%
	ENPH	F	0.01%
	GLBE	B	0.0%
	IOT	A	0.0%
	NET	B	0.0%
	RBLX	C	0.0%
	DDOG	A	0.0%
	DKNG	B	0.0%
	TOST	B	0.0%
	SNAP	D	0.0%
	H	B	0.0%
	PSTG	D	0.0%
	FUTU	D	0.0%
	HEI	A	0.0%
	PINS	F	0.0%
	DT	D	0.0%
	DAY	B	0.0%
	SNOW	B	0.0%
	DOCU	B	0.0%
	EXAS	D	0.0%
	PODD	C	0.0%
	GRAB	A	0.0%
	TECH	F	0.0%
	ROKU	D	0.0%
	WYNN	C	0.0%
	OKTA	C	0.0%
	DXCM	C	0.0%
	CRWD	B	0.0%
	MSTR	B	0.0%
	TYL	B	0.0%
	TTD	B	0.0%
	ELS	C	0.0%
	HOOD	B	0.0%
	ENTG	D	0.0%
	TW	A	0.0%
	HEI	A	0.0%
	RIVN	F	0.0%
	Z	A	0.0%
	MTCH	D	0.0%
	LYV	A	0.0%
	QGEN	D	0.0%
	VRT	B	0.0%
	APP	B	0.0%
	CSGP	D	0.0%
	AXON	A	0.0%
	BIO	C	0.0%
	OTEX	F	0.0%
	AMH	C	0.0%
	PLTR	B	0.0%
	ARES	A	0.0%

QWLD Underweight 214 Positions Relative to FNDX

	Symbol	Grade	Weight
	LUMN	C	-0.65%
	ARW	D	-0.08%
	USFD	A	-0.08%
	WHR	B	-0.08%
	WKC	C	-0.08%
	JLL	D	-0.08%
	VFC	C	-0.07%
	CMA	B	-0.07%
	THC	D	-0.07%
	R	B	-0.07%
	X	B	-0.07%
	LAD	A	-0.07%
	AVT	C	-0.07%
	TOL	B	-0.06%
	M	F	-0.06%
	JEF	A	-0.06%
	UNM	A	-0.06%
	AA	A	-0.06%
	ZION	B	-0.06%
	OMF	A	-0.06%
	MHK	D	-0.06%
	FLEX	B	-0.06%
	PFGC	B	-0.06%
	KSS	F	-0.06%
	VNO	C	-0.05%
	INGR	C	-0.05%
	ORI	A	-0.05%
	IVZ	B	-0.05%
	AN	C	-0.05%
	KD	B	-0.05%
	DXC	B	-0.05%
	ALSN	B	-0.05%
	LEA	F	-0.05%
	TDS	B	-0.05%
	GPI	B	-0.05%
	CASY	A	-0.05%
	BWA	D	-0.05%
	TPR	B	-0.05%
	SFM	A	-0.05%
	BFH	C	-0.05%
	LNC	C	-0.05%
	LPX	B	-0.04%
	BCC	B	-0.04%
	GAP	C	-0.04%
	OSK	C	-0.04%
	AMG	B	-0.04%
	ZIM	C	-0.04%
	UFPI	C	-0.04%
	FYBR	C	-0.04%
	CNO	B	-0.04%
	DOX	D	-0.04%
	SLM	A	-0.04%
	TMHC	C	-0.04%
	GT	C	-0.04%
	RGA	A	-0.04%
	RHI	C	-0.04%
	FAF	A	-0.04%
	MUSA	B	-0.04%
	BERY	C	-0.04%
	PVH	C	-0.04%
	PNW	A	-0.04%
	AYI	B	-0.04%
	WCC	B	-0.04%
	THO	B	-0.04%
	EVR	B	-0.04%
	OGN	F	-0.04%
	JXN	C	-0.04%
	MAN	F	-0.04%
	UGI	C	-0.04%
	EXP	B	-0.03%
	SEE	C	-0.03%
	THG	A	-0.03%
	LSTR	D	-0.03%
	PRI	B	-0.03%
	AR	B	-0.03%
	FMC	D	-0.03%
	SCI	B	-0.03%
	GNTX	C	-0.03%
	AAP	D	-0.03%
	BTU	B	-0.03%
	ITT	A	-0.03%
	KBH	D	-0.03%
	CW	C	-0.03%
	TPH	D	-0.03%
	G	B	-0.03%
	FLR	B	-0.03%
	SNX	D	-0.03%
	BC	C	-0.03%
	ABG	C	-0.03%
	SNV	C	-0.03%
	VOYA	B	-0.03%
	MTD	F	-0.03%
	ARMK	B	-0.03%
	CAR	C	-0.03%
	OGE	A	-0.03%
	GPK	C	-0.03%
	HAS	D	-0.03%
	FL	F	-0.03%
	RRX	B	-0.03%
	RL	C	-0.03%
	CACI	D	-0.03%
	MTH	D	-0.03%
	JHG	B	-0.03%
	CLF	F	-0.03%
	EWBC	A	-0.03%
	WU	F	-0.03%
	CIEN	C	-0.03%
	GNW	A	-0.03%
	NXST	C	-0.03%
	HUN	F	-0.03%
	FHN	A	-0.03%
	CMC	B	-0.03%
	OLN	F	-0.03%
	PBF	D	-0.03%
	MTZ	B	-0.03%
	SANM	B	-0.03%
	NWL	C	-0.03%
	HBI	B	-0.03%
	GL	C	-0.03%
	MLI	B	-0.03%
	MDU	D	-0.02%
	MTN	C	-0.02%
	ODP	F	-0.02%
	COHR	B	-0.02%
	ALV	C	-0.02%
	ALK	B	-0.02%
	ADNT	F	-0.02%
	FLO	D	-0.02%
	MPW	F	-0.02%
	MATX	C	-0.02%
	LEG	F	-0.02%
	BPOP	C	-0.02%
	ARCH	B	-0.02%
	TKR	D	-0.02%
	MIDD	C	-0.02%
	NSIT	F	-0.02%
	KBR	F	-0.02%
	POR	C	-0.02%
	MKSI	C	-0.02%
	VAC	C	-0.02%
	ASO	F	-0.02%
	WERN	C	-0.02%
	OI	C	-0.02%
	POST	C	-0.02%
	NFG	A	-0.02%
	ASGN	F	-0.02%
	NAVI	F	-0.02%
	SM	B	-0.02%
	CZR	F	-0.02%
	LECO	C	-0.02%
	ST	F	-0.02%
	AL	B	-0.02%
	MUR	D	-0.02%
	TPX	B	-0.02%
	PII	F	-0.02%
	STWD	C	-0.02%
	PAG	B	-0.02%
	HUBG	A	-0.02%
	SLG	B	-0.02%
	GXO	B	-0.02%
	PENN	C	-0.02%
	HOG	D	-0.02%
	NOV	C	-0.02%
	DCI	B	-0.02%
	NVT	B	-0.02%
	BECN	B	-0.02%
	SKX	D	-0.02%
	CC	C	-0.02%
	LAMR	C	-0.02%
	PK	C	-0.02%
	BRX	A	-0.02%
	MTG	C	-0.02%
	ABM	B	-0.02%
	DAR	C	-0.02%
	ATR	B	-0.02%
	BJ	A	-0.02%
	EHC	B	-0.02%
	RUSHA	C	-0.02%
	SAIC	F	-0.02%
	REZI	A	-0.02%
	GNRC	C	-0.02%
	TGNA	B	-0.02%
	BAP	A	-0.02%
	SON	F	-0.02%
	AXTA	B	-0.02%
	VSH	F	-0.01%
	ANDE	D	-0.01%
	LILAK	D	-0.01%
	CNXC	F	-0.01%
	DBX	B	-0.01%
	ICLR	D	-0.01%
	MSM	C	-0.01%
	SPTN	D	-0.01%
	CHE	D	-0.01%
	MMS	F	-0.01%
	AEO	F	-0.01%
	CYH	F	-0.01%
	JAZZ	B	-0.01%
	BLD	D	-0.01%
	TNL	A	-0.01%
	PRGO	C	-0.01%
	QRTEA	F	-0.01%
	AAL	B	-0.01%
	FTI	A	-0.01%
	JWN	D	-0.01%
	HRB	D	-0.01%
	XRAY	F	-0.01%
	DK	C	-0.01%
	HTZ	C	-0.01%
	DAN	D	-0.01%
	UNFI	A	-0.01%
	CRI	F	-0.01%
	CNX	A	-0.01%
	CPRI	F	-0.01%

QWLD: Top Represented Industries & Keywords

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

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

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Utilities - Regulated Electric Business Services Oil & Gas E&P Specialty Retail Banks - Regional - US Software - Application Information Technology Services Semiconductors Diagnostics & Research Specialty Chemicals Credit Services Packaged Foods Packaging & Containers Building Materials Insurance - Property & Casualty Auto Parts Capital Markets Drug Manufacturers - Major

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