QWLD vs. IWD ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to iShares Russell 1000 Value ETF (IWD)

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

$119.03

Average Daily Volume

6,414

Number of Holdings ^*

539

* may have additional holdings in another (foreign) market

IWD

iShares Russell 1000 Value ETF

IWD Description

The investment seeks to track the investment results of an index composed of large- and mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell 1000 Value Index (the "underlying index"), which measures the performance of large- and mid-capitalization value sectors of the U.S. equity market. It is a subset of the Russell 1000Â® Index, which measures the performance of the large-capitalization sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$176.63

Average Daily Volume

1,708,335

Number of Holdings ^*

844

* may have additional holdings in another (foreign) market

Performance

Period	QWLD	IWD
30 Days	0.44%	-0.38%
60 Days	1.08%	1.92%
90 Days	4.71%	6.24%
12 Months	19.67%	19.22%

426 Overlapping Holdings

Symbol	Grade	Weight in QWLD	Weight in IWD	Overlap
A	C	0.07%	0.04%	0.04%
ABT	F	0.09%	0.82%	0.09%
ACGL	A	0.03%	0.14%	0.03%
ACI	D	0.01%	0.04%	0.01%
ADI	A	0.05%	0.47%	0.05%
ADM	C	0.04%	0.15%	0.04%
ADP	D	0.25%	0.07%	0.07%
AEE	C	0.07%	0.09%	0.07%
AEP	A	0.15%	0.22%	0.15%
AES	B	0.01%	0.02%	0.01%
AFG	C	0.03%	0.04%	0.03%
AFL	A	0.1%	0.23%	0.1%
AGCO	F	0.02%	0.03%	0.02%
AIG	A	0.08%	0.26%	0.08%
AIZ	D	0.06%	0.04%	0.04%
AJG	C	0.15%	0.23%	0.15%
AKAM	D	0.12%	0.07%	0.07%
ALB	C	0.03%	0.07%	0.03%
ALL	B	0.1%	0.21%	0.1%
ALLE	D	0.02%	0.0%	0.0%
ALLY	B	0.03%	0.05%	0.03%
AMAT	C	0.37%	0.12%	0.12%
AMCR	A	0.1%	0.07%	0.07%
AMD	D	0.05%	0.48%	0.05%
AMGN	B	0.24%	0.23%	0.23%
AON	F	0.13%	0.26%	0.13%
AOS	C	0.03%	0.04%	0.03%
APA	F	0.0%	0.01%	0.0%
APD	C	0.01%	0.26%	0.01%
APH	A	0.36%	0.17%	0.17%
APTV	D	0.01%	0.1%	0.01%
ARE	D	0.01%	0.1%	0.01%
ATO	A	0.01%	0.09%	0.01%
AVB	A	0.01%	0.13%	0.01%
AVTR	D	0.0%	0.08%	0.0%
AVY	A	0.04%	0.06%	0.04%
AWK	B	0.03%	0.12%	0.03%
AXP	A	0.06%	0.43%	0.06%
AZO	D	0.3%	0.04%	0.04%
BA	F	0.02%	0.42%	0.02%
BAC	B	0.4%	1.21%	0.4%
BALL	B	0.01%	0.1%	0.01%
BAX	F	0.02%	0.09%	0.02%
BBWI	C	0.01%	0.05%	0.01%
BBY	D	0.06%	0.06%	0.06%
BDX	F	0.1%	0.33%	0.1%
BEN	F	0.01%	0.03%	0.01%
BG	B	0.02%	0.07%	0.02%
BIIB	C	0.02%	0.15%	0.02%
BIO	F	0.01%	0.03%	0.01%
BK	A	0.05%	0.2%	0.05%
BKR	D	0.02%	0.15%	0.02%
BLDR	D	0.06%	0.11%	0.06%
BLK	D	0.21%	0.54%	0.21%
BMRN	F	0.09%	0.07%	0.07%
BMY	F	0.23%	0.42%	0.23%
BR	D	0.02%	0.02%	0.02%
BRK.A	D	0.68%	3.49%	0.68%
BRO	C	0.12%	0.06%	0.06%
BSX	B	0.03%	0.5%	0.03%
BWA	B	0.01%	0.04%	0.01%
BXP	F	0.0%	0.04%	0.0%
C	A	0.34%	0.56%	0.34%
CAG	B	0.05%	0.07%	0.05%
CAH	F	0.06%	0.06%	0.06%
CARR	A	0.03%	0.24%	0.03%
CAT	D	0.32%	0.2%	0.2%
CB	C	0.26%	0.48%	0.26%
CBRE	D	0.03%	0.13%	0.03%
CCI	D	0.02%	0.18%	0.02%
CCK	C	0.0%	0.04%	0.0%
CCL	F	0.0%	0.07%	0.0%
CDW	F	0.04%	0.01%	0.01%
CE	C	0.02%	0.07%	0.02%
CEG	A	0.03%	0.29%	0.03%
CF	F	0.15%	0.07%	0.07%
CFG	A	0.03%	0.08%	0.03%
CG	D	0.0%	0.04%	0.0%
CHD	A	0.21%	0.01%	0.01%
CHK	B	0.02%	0.05%	0.02%
CHRW	C	0.12%	0.01%	0.01%
CI	D	0.16%	0.44%	0.16%
CINF	D	0.03%	0.09%	0.03%
CL	A	0.2%	0.36%	0.2%
CLF	F	0.02%	0.04%	0.02%
CMCSA	D	0.15%	0.72%	0.15%
CME	C	0.14%	0.35%	0.14%
CMI	B	0.1%	0.18%	0.1%
CMS	A	0.04%	0.08%	0.04%
CNC	C	0.06%	0.19%	0.06%
CNP	B	0.0%	0.09%	0.0%
COF	B	0.09%	0.26%	0.09%
COIN	D	0.01%	0.19%	0.01%
COP	C	0.3%	0.7%	0.3%
CPB	B	0.1%	0.04%	0.04%
CPT	B	0.01%	0.05%	0.01%
CRM	D	0.05%	0.3%	0.05%
CSCO	D	0.87%	0.9%	0.87%
CSL	A	0.03%	0.09%	0.03%
CSX	D	0.11%	0.28%	0.11%
CTAS	B	0.14%	0.03%	0.03%
CTLT	D	0.01%	0.05%	0.01%
CTRA	B	0.02%	0.1%	0.02%
CTSH	D	0.17%	0.16%	0.16%
CTVA	B	0.04%	0.19%	0.04%
CVS	F	0.13%	0.34%	0.13%
CVX	B	0.3%	1.32%	0.3%
D	B	0.08%	0.2%	0.08%
DAL	A	0.01%	0.15%	0.01%
DAR	D	0.01%	0.03%	0.01%
DD	A	0.03%	0.16%	0.03%
DE	B	0.05%	0.03%	0.03%
DFS	C	0.04%	0.15%	0.04%
DGX	B	0.09%	0.07%	0.07%
DHI	D	0.11%	0.21%	0.11%
DHR	C	0.08%	0.77%	0.08%
DINO	D	0.02%	0.04%	0.02%
DIS	D	0.1%	0.98%	0.1%
DKS	C	0.03%	0.05%	0.03%
DLR	D	0.01%	0.2%	0.01%
DLTR	F	0.02%	0.12%	0.02%
DOC	A	0.0%	0.06%	0.0%
DOV	A	0.02%	0.12%	0.02%
DOW	C	0.04%	0.19%	0.04%
DRI	F	0.02%	0.04%	0.02%
DTE	A	0.03%	0.11%	0.03%
DUK	A	0.32%	0.36%	0.32%
DVN	B	0.07%	0.15%	0.07%
EA	F	0.16%	0.17%	0.16%
EBAY	D	0.02%	0.11%	0.02%
ECL	A	0.02%	0.06%	0.02%
ED	A	0.37%	0.16%	0.16%
EG	C	0.05%	0.07%	0.05%
EIX	A	0.03%	0.13%	0.03%
EL	F	0.02%	0.1%	0.02%
ELS	D	0.01%	0.04%	0.01%
ELV	A	0.14%	0.51%	0.14%
EMN	A	0.0%	0.05%	0.0%
EMR	C	0.05%	0.29%	0.05%
EOG	B	0.04%	0.37%	0.04%
EQIX	F	0.02%	0.15%	0.02%
EQR	A	0.02%	0.12%	0.02%
EQT	B	0.03%	0.07%	0.03%
ES	B	0.04%	0.1%	0.04%
ESS	A	0.01%	0.08%	0.01%
ETN	A	0.05%	0.6%	0.05%
ETR	A	0.02%	0.11%	0.02%
ETSY	F	0.0%	0.01%	0.0%
EVRG	B	0.05%	0.06%	0.05%
EXC	B	0.03%	0.18%	0.03%
EXPD	D	0.22%	0.07%	0.07%
EXPE	F	0.0%	0.02%	0.0%
EXR	D	0.02%	0.14%	0.02%
F	D	0.12%	0.23%	0.12%
FANG	B	0.01%	0.17%	0.01%
FAST	D	0.09%	0.05%	0.05%
FCX	B	0.03%	0.33%	0.03%
FDX	D	0.06%	0.29%	0.06%
FE	A	0.02%	0.1%	0.02%
FFIV	D	0.12%	0.05%	0.05%
FIS	C	0.03%	0.2%	0.03%
FITB	A	0.03%	0.12%	0.03%
FMC	B	0.01%	0.03%	0.01%
FNF	B	0.02%	0.06%	0.02%
FOX	B	0.01%	0.02%	0.01%
FOXA	B	0.01%	0.04%	0.01%
FSLR	B	0.0%	0.09%	0.0%
FTV	D	0.0%	0.13%	0.0%
GD	A	0.12%	0.33%	0.12%
GE	A	0.07%	0.84%	0.07%
GEHC	D	0.06%	0.14%	0.06%
GEV	C	0.02%	0.2%	0.02%
GGG	D	0.01%	0.04%	0.01%
GILD	F	0.32%	0.39%	0.32%
GIS	C	0.32%	0.19%	0.19%
GL	F	0.03%	0.03%	0.03%
GLW	B	0.02%	0.12%	0.02%
GM	B	0.23%	0.25%	0.23%
GPC	B	0.03%	0.1%	0.03%
GPN	F	0.02%	0.14%	0.02%
GRMN	A	0.05%	0.12%	0.05%
GS	A	0.16%	0.65%	0.16%
HAL	F	0.01%	0.13%	0.01%
HAS	B	0.01%	0.04%	0.01%
HBAN	A	0.03%	0.09%	0.03%
HCA	D	0.04%	0.23%	0.04%
HEI	A	0.02%	0.01%	0.01%
HEI	A	0.02%	0.0%	0.0%
HES	B	0.0%	0.09%	0.0%
HIG	C	0.06%	0.14%	0.06%
HII	D	0.02%	0.05%	0.02%
HOLX	D	0.02%	0.08%	0.02%
HON	C	0.25%	0.53%	0.25%
HOOD	C	0.0%	0.05%	0.0%
HPE	D	0.03%	0.1%	0.03%
HPQ	C	0.03%	0.09%	0.03%
HRL	B	0.12%	0.05%	0.05%
HSIC	D	0.04%	0.04%	0.04%
HSY	B	0.34%	0.04%	0.04%
HUBB	D	0.03%	0.05%	0.03%
HUM	F	0.17%	0.11%	0.11%
HWM	A	0.01%	0.14%	0.01%
IBM	D	0.47%	0.71%	0.47%
ICE	C	0.04%	0.34%	0.04%
IEX	D	0.05%	0.07%	0.05%
IFF	A	0.01%	0.11%	0.01%
ILMN	F	0.0%	0.07%	0.0%
INCY	D	0.12%	0.01%	0.01%
INTC	F	0.12%	0.61%	0.12%
IP	C	0.01%	0.06%	0.01%
IPG	D	0.02%	0.06%	0.02%
IQV	D	0.0%	0.01%	0.0%
ITW	D	0.14%	0.06%	0.06%
J	D	0.0%	0.09%	0.0%
JAZZ	D	0.01%	0.02%	0.01%
JBHT	F	0.02%	0.05%	0.02%
JBL	D	0.01%	0.03%	0.01%
JCI	B	0.03%	0.2%	0.03%
JKHY	D	0.08%	0.04%	0.04%
JNJ	F	1.15%	1.72%	1.15%
JNPR	D	0.13%	0.05%	0.05%
JPM	B	0.56%	2.63%	0.56%
K	B	0.18%	0.08%	0.08%
KDP	B	0.15%	0.15%	0.15%
KEY	C	0.03%	0.07%	0.03%
KEYS	D	0.21%	0.09%	0.09%
KHC	C	0.23%	0.14%	0.14%
KKR	C	0.03%	0.23%	0.03%
KMB	B	0.11%	0.01%	0.01%
KMI	A	0.03%	0.17%	0.03%
KMX	D	0.01%	0.05%	0.01%
KNX	D	0.01%	0.04%	0.01%
KO	A	0.56%	0.58%	0.56%
KR	B	0.31%	0.17%	0.17%
KVUE	C	0.02%	0.1%	0.02%
L	A	0.12%	0.07%	0.07%
LBRDK	F	0.01%	0.02%	0.01%
LDOS	A	0.0%	0.09%	0.0%
LEA	F	0.01%	0.04%	0.01%
LEN	D	0.08%	0.01%	0.01%
LEN	D	0.08%	0.18%	0.08%
LH	F	0.03%	0.08%	0.03%
LHX	A	0.02%	0.19%	0.02%
LII	C	0.03%	0.07%	0.03%
LIN	D	0.05%	0.88%	0.05%
LKQ	D	0.01%	0.05%	0.01%
LNT	B	0.02%	0.06%	0.02%
LOW	D	0.07%	0.17%	0.07%
LRCX	D	0.28%	0.03%	0.03%
LUV	D	0.0%	0.07%	0.0%
LVS	D	0.0%	0.01%	0.0%
LW	F	0.0%	0.0%	0.0%
LYB	C	0.05%	0.12%	0.05%
MCD	F	0.38%	0.56%	0.38%
MCHP	B	0.08%	0.06%	0.06%
MCK	B	0.41%	0.21%	0.21%
MCO	C	0.03%	0.02%	0.02%
MDLZ	B	0.16%	0.46%	0.16%
MDT	D	0.09%	0.51%	0.09%
MET	C	0.05%	0.21%	0.05%
MGM	F	0.01%	0.05%	0.01%
MKC	B	0.03%	0.09%	0.03%
MKL	A	0.1%	0.1%	0.1%
MLM	C	0.01%	0.17%	0.01%
MMC	C	0.48%	0.09%	0.09%
MMM	B	0.16%	0.25%	0.16%
MO	A	0.03%	0.37%	0.03%
MOH	D	0.04%	0.04%	0.04%
MOS	F	0.02%	0.04%	0.02%
MPC	D	0.2%	0.32%	0.2%
MRK	B	0.68%	1.27%	0.68%
MRNA	B	0.05%	0.2%	0.05%
MRO	D	0.01%	0.07%	0.01%
MRVL	D	0.01%	0.27%	0.01%
MS	A	0.11%	0.52%	0.11%
MSI	A	0.47%	0.02%	0.02%
MTB	A	0.03%	0.12%	0.03%
MTCH	F	0.0%	0.0%	0.0%
MU	B	0.08%	0.58%	0.08%
NDSN	C	0.02%	0.07%	0.02%
NEE	B	0.06%	0.67%	0.06%
NEM	B	0.07%	0.23%	0.07%
NI	A	0.0%	0.06%	0.0%
NKE	D	0.22%	0.24%	0.22%
NOC	B	0.29%	0.3%	0.29%
NRG	B	0.03%	0.08%	0.03%
NSC	D	0.04%	0.25%	0.04%
NTAP	B	0.03%	0.06%	0.03%
NTRS	C	0.01%	0.08%	0.01%
NUE	F	0.05%	0.2%	0.05%
NVR	D	0.05%	0.09%	0.05%
NWSA	D	0.0%	0.04%	0.0%
O	B	0.01%	0.22%	0.01%
OC	B	0.02%	0.07%	0.02%
ODFL	F	0.08%	0.01%	0.01%
OKE	B	0.01%	0.2%	0.01%
OKTA	D	0.0%	0.06%	0.0%
OMC	B	0.04%	0.09%	0.04%
ON	F	0.01%	0.14%	0.01%
ORCL	D	0.17%	0.5%	0.17%
ORLY	D	0.2%	0.04%	0.04%
OTIS	D	0.01%	0.17%	0.01%
OVV	C	0.01%	0.03%	0.01%
OXY	C	0.03%	0.21%	0.03%
PARA	C	0.02%	0.04%	0.02%
PCAR	D	0.03%	0.26%	0.03%
PCG	B	0.03%	0.17%	0.03%
PEG	A	0.02%	0.17%	0.02%
PEP	B	0.9%	0.36%	0.36%
PFE	D	0.49%	0.75%	0.49%
PFG	C	0.04%	0.09%	0.04%
PG	A	0.98%	1.49%	0.98%
PGR	A	0.3%	0.15%	0.15%
PH	B	0.02%	0.32%	0.02%
PHM	B	0.07%	0.12%	0.07%
PKG	D	0.03%	0.07%	0.03%
PLD	D	0.04%	0.46%	0.04%
PM	A	0.06%	0.72%	0.06%
PNC	B	0.07%	0.3%	0.07%
PNR	C	0.02%	0.06%	0.02%
PPG	D	0.03%	0.11%	0.03%
PPL	A	0.02%	0.1%	0.02%
PRU	A	0.03%	0.19%	0.03%
PSA	D	0.1%	0.08%	0.08%
PSX	D	0.13%	0.3%	0.13%
PTC	D	0.04%	0.04%	0.04%
PWR	B	0.01%	0.13%	0.01%
PXD	B	0.04%	0.3%	0.04%
PYPL	C	0.04%	0.03%	0.03%
QCOM	B	0.42%	0.12%	0.12%
QGEN	C	0.02%	0.05%	0.02%
QRVO	F	0.01%	0.04%	0.01%
RCL	A	0.0%	0.11%	0.0%
REGN	C	0.4%	0.43%	0.4%
RF	B	0.03%	0.09%	0.03%
RHI	D	0.02%	0.03%	0.02%
RIVN	F	0.0%	0.03%	0.0%
RJF	C	0.02%	0.11%	0.02%
ROP	D	0.45%	0.26%	0.26%
ROST	D	0.03%	0.01%	0.01%
RPRX	F	0.0%	0.05%	0.0%
RS	D	0.03%	0.08%	0.03%
RSG	C	0.46%	0.18%	0.18%
RTX	A	0.09%	0.7%	0.09%
SBAC	D	0.01%	0.09%	0.01%
SCHW	A	0.05%	0.53%	0.05%
SEIC	C	0.02%	0.03%	0.02%
SHW	D	0.03%	0.06%	0.03%
SIRI	F	0.0%	0.01%	0.0%
SJM	F	0.13%	0.06%	0.06%
SLB	F	0.02%	0.32%	0.02%
SNA	D	0.05%	0.07%	0.05%
SO	A	0.4%	0.39%	0.39%
SOLV	C	0.03%	0.04%	0.03%
SPG	C	0.03%	0.17%	0.03%
SPGI	C	0.05%	0.58%	0.05%
SQ	D	0.01%	0.12%	0.01%
SRE	B	0.03%	0.22%	0.03%
STLD	D	0.06%	0.09%	0.06%
STT	C	0.03%	0.1%	0.03%
STZ	D	0.01%	0.18%	0.01%
SWK	F	0.02%	0.06%	0.02%
SWKS	F	0.03%	0.07%	0.03%
SYF	B	0.03%	0.09%	0.03%
SYK	D	0.04%	0.41%	0.04%
T	B	0.31%	0.57%	0.31%
TAP	F	0.01%	0.05%	0.01%
TDY	D	0.04%	0.09%	0.04%
TER	B	0.05%	0.01%	0.01%
TFC	B	0.1%	0.24%	0.1%
TMO	D	0.06%	0.4%	0.06%
TMUS	B	0.4%	0.38%	0.38%
TROW	D	0.07%	0.12%	0.07%
TRU	C	0.0%	0.07%	0.0%
TRV	D	0.25%	0.23%	0.23%
TSN	B	0.06%	0.08%	0.06%
TT	A	0.15%	0.24%	0.15%
TTWO	D	0.01%	0.11%	0.01%
TW	A	0.01%	0.04%	0.01%
TWLO	D	0.01%	0.04%	0.01%
TXN	A	0.53%	0.45%	0.45%
TXT	D	0.01%	0.08%	0.01%
TYL	A	0.01%	0.02%	0.01%
UDR	B	0.01%	0.06%	0.01%
UHAL	B	0.02%	0.02%	0.02%
UHAL	B	0.02%	0.0%	0.0%
UHS	D	0.03%	0.05%	0.03%
UNH	C	1.18%	0.35%	0.35%
UNP	C	0.26%	0.39%	0.26%
UPS	D	0.23%	0.37%	0.23%
URI	D	0.03%	0.17%	0.03%
USB	D	0.09%	0.3%	0.09%
UTHR	B	0.06%	0.06%	0.06%
VICI	B	0.01%	0.14%	0.01%
VLO	D	0.09%	0.25%	0.09%
VLTO	A	0.04%	0.1%	0.04%
VMC	C	0.01%	0.13%	0.01%
VRSN	F	0.13%	0.07%	0.07%
VRTX	C	0.4%	0.04%	0.04%
VST	B	0.03%	0.1%	0.03%
VTR	B	0.01%	0.09%	0.01%
VTRS	C	0.04%	0.07%	0.04%
VZ	D	0.58%	0.78%	0.58%
WBA	F	0.05%	0.06%	0.05%
WBD	F	0.04%	0.08%	0.04%
WDC	B	0.02%	0.11%	0.02%
WEC	B	0.16%	0.12%	0.12%
WELL	A	0.02%	0.25%	0.02%
WFC	A	0.3%	1.03%	0.3%
WM	B	0.57%	0.04%	0.04%
WMB	A	0.13%	0.22%	0.13%
WMT	C	0.58%	1.22%	0.58%
WPC	C	0.01%	0.06%	0.01%
WRB	D	0.12%	0.08%	0.08%
WRK	A	0.02%	0.06%	0.02%
WSM	B	0.01%	0.08%	0.01%
WSO	B	0.02%	0.05%	0.02%
WTRG	B	0.01%	0.05%	0.01%
WTW	D	0.06%	0.11%	0.06%
WY	F	0.01%	0.11%	0.01%
XEL	C	0.21%	0.14%	0.14%
XOM	B	0.42%	2.21%	0.42%
YUM	C	0.14%	0.02%	0.02%
ZBH	D	0.01%	0.12%	0.01%
ZBRA	A	0.04%	0.06%	0.04%
ZM	F	0.0%	0.08%	0.0%

QWLD Overweight 116 Positions Relative to IWD

Symbol	Grade	Weight
NVDA	B	2.63%
MSFT	C	2.34%
AAPL	B	1.87%
META	D	1.71%
LLY	C	1.4%
GOOGL	B	1.24%
V	C	1.15%
GOOG	B	1.11%
AVGO	C	0.96%
NVS	B	0.78%
COST	B	0.66%
MA	D	0.66%
ACN	D	0.61%
ADBE	D	0.41%
LMT	A	0.4%
AMZN	A	0.39%
ABBV	D	0.36%
HD	D	0.29%
UL	A	0.27%
TJX	C	0.27%
TM	D	0.25%
WCN	C	0.24%
MFG	D	0.22%
ISRG	D	0.2%
CBOE	C	0.2%
KLAC	A	0.16%
BAH	B	0.16%
TD	F	0.15%
CDNS	D	0.15%
DEO	D	0.15%
MUFG	D	0.15%
ABBV	D	0.14%
CNI	D	0.14%
CMG	A	0.14%
ZTS	D	0.14%
SNPS	D	0.13%
NBIX	B	0.13%
ANET	C	0.13%
CHKP	D	0.13%
SMFG	D	0.12%
ERIE	C	0.12%
STLA	D	0.12%
GWW	D	0.11%
FTNT	F	0.11%
E	C	0.11%
BCS	A	0.11%
DPZ	B	0.11%
PAYX	D	0.11%
HMC	D	0.11%
CPRT	D	0.1%
AMP	C	0.1%
MNST	D	0.09%
LULU	F	0.09%
EW	D	0.09%
NFLX	C	0.08%
TGT	D	0.08%
LYG	A	0.08%
SMCI	D	0.07%
ULTA	F	0.07%
LOGI	D	0.07%
IDXX	D	0.07%
SONY	F	0.07%
ROL	B	0.07%
VRSK	B	0.07%
RMD	B	0.06%
TEL	C	0.06%
TSCO	B	0.06%
MT	F	0.05%
LPLA	B	0.05%
VEEV	D	0.05%
TSLA	D	0.05%
ROK	F	0.05%
WST	D	0.05%
MPWR	B	0.05%
DG	D	0.04%
DELL	B	0.04%
BTI	B	0.04%
DECK	D	0.04%
BX	D	0.03%
FDS	D	0.03%
NXPI	A	0.03%
CHTR	F	0.03%
INTU	D	0.03%
POOL	F	0.03%
NMR	D	0.02%
MKTX	F	0.02%
AMT	D	0.02%
PAYC	F	0.02%
TTC	F	0.02%
LNG	D	0.02%
MANH	D	0.02%
SBUX	F	0.02%
BKNG	B	0.02%
EPAM	D	0.02%
TPL	C	0.02%
SYY	D	0.02%
SE	B	0.01%
PANW	B	0.01%
BURL	D	0.01%
ADSK	F	0.01%
UBER	D	0.01%
FICO	C	0.01%
PCTY	D	0.01%
WFG	D	0.01%
ALGN	F	0.01%
DVA	B	0.01%
APO	C	0.01%
EQH	A	0.01%
AER	A	0.01%
STX	C	0.01%
OTEX	F	0.01%
CLX	F	0.01%
WAT	D	0.01%
ENPH	F	0.0%
CCEP	A	0.0%
AZN	A	0.0%

QWLD Underweight 418 Positions Relative to IWD

Symbol	Grade	Weight
FI	C	-0.31%
TDG	A	-0.27%
FERG	B	-0.2%
AME	D	-0.18%
IR	D	-0.18%
XYL	A	-0.14%
WAB	A	-0.14%
VRT	A	-0.14%
HLT	D	-0.13%
NDAQ	D	-0.11%
STE	D	-0.1%
CSGP	C	-0.1%
ICLR	D	-0.1%
INVH	B	-0.1%
ENTG	D	-0.09%
MSCI	D	-0.09%
FCNCA	B	-0.08%
UAL	B	-0.08%
COO	D	-0.08%
FWONK	B	-0.07%
TRMB	D	-0.07%
MAA	B	-0.07%
MAS	D	-0.07%
CRL	D	-0.06%
NVT	A	-0.06%
THC	A	-0.06%
BLD	D	-0.06%
AMH	B	-0.06%
IBKR	B	-0.06%
XPO	D	-0.06%
KIM	C	-0.06%
RVTY	D	-0.06%
TOL	B	-0.06%
RGA	A	-0.06%
ACM	C	-0.06%
HST	D	-0.06%
SSNC	C	-0.06%
NLY	A	-0.05%
ATR	A	-0.05%
SAIA	F	-0.05%
DOX	D	-0.05%
CW	A	-0.05%
WWD	A	-0.05%
CNM	A	-0.05%
CASY	A	-0.05%
ITT	A	-0.05%
CLH	B	-0.05%
EWBC	A	-0.05%
LYV	D	-0.05%
RRX	D	-0.05%
EME	A	-0.05%
APP	B	-0.05%
REG	F	-0.05%
GLPI	D	-0.05%
RPM	D	-0.05%
FTI	B	-0.05%
SUI	D	-0.05%
IRM	C	-0.05%
CNHI	D	-0.05%
NTNX	A	-0.05%
USFD	C	-0.05%
MIDD	F	-0.04%
OSK	D	-0.04%
INGR	A	-0.04%
CGNX	B	-0.04%
NNN	B	-0.04%
OHI	B	-0.04%
WBS	D	-0.04%
DASH	D	-0.04%
EHC	A	-0.04%
GNRC	B	-0.04%
AYI	C	-0.04%
AFRM	D	-0.04%
MKSI	D	-0.04%
SNX	A	-0.04%
SF	A	-0.04%
DAY	F	-0.04%
ORI	A	-0.04%
JEF	B	-0.04%
SWN	C	-0.04%
RGLD	B	-0.04%
GNTX	D	-0.04%
NU	C	-0.04%
ARMK	C	-0.04%
SKX	B	-0.04%
X	D	-0.04%
RRC	B	-0.04%
TPR	D	-0.04%
RNR	C	-0.04%
EFX	D	-0.04%
UNM	B	-0.04%
PNW	B	-0.04%
FRT	B	-0.04%
FHN	A	-0.04%
JLL	C	-0.04%
TTEK	B	-0.04%
FBIN	D	-0.04%
CACI	A	-0.04%
REXR	D	-0.04%
GEN	F	-0.04%
CUBE	D	-0.04%
AR	B	-0.04%
GWRE	C	-0.04%
WYNN	D	-0.04%
TFX	F	-0.04%
ESI	D	-0.03%
AL	B	-0.03%
IVZ	D	-0.03%
ALK	C	-0.03%
POST	B	-0.03%
AMG	D	-0.03%
RITM	A	-0.03%
SON	C	-0.03%
SNV	C	-0.03%
PB	B	-0.03%
FAF	D	-0.03%
TKR	B	-0.03%
R	A	-0.03%
PFGC	D	-0.03%
AZPN	D	-0.03%
HR	B	-0.03%
WH	F	-0.03%
MTG	B	-0.03%
AIRC	A	-0.03%
OMF	B	-0.03%
KBR	B	-0.03%
HXL	C	-0.03%
AAL	C	-0.03%
MTZ	B	-0.03%
MSA	C	-0.03%
ADC	B	-0.03%
STWD	C	-0.03%
LFUS	B	-0.03%
FCN	B	-0.03%
ESAB	B	-0.03%
FYBR	B	-0.03%
GXO	C	-0.03%
ST	B	-0.03%
ACHC	F	-0.03%
XRAY	F	-0.03%
ALSN	D	-0.03%
DTM	A	-0.03%
PNFP	C	-0.03%
WTFC	B	-0.03%
HLI	A	-0.03%
MHK	D	-0.03%
FLS	A	-0.03%
Z	F	-0.03%
BPOP	A	-0.03%
FR	D	-0.03%
ZION	B	-0.03%
XP	D	-0.03%
SCI	D	-0.03%
CFR	D	-0.03%
STAG	D	-0.03%
COLD	F	-0.03%
OLN	D	-0.03%
AA	B	-0.03%
AGNC	C	-0.03%
RL	D	-0.03%
KEX	A	-0.03%
MAT	D	-0.03%
WAL	B	-0.03%
PVH	D	-0.03%
BILL	F	-0.03%
H	D	-0.03%
AZEK	D	-0.03%
ROKU	F	-0.03%
ARW	B	-0.03%
EVR	C	-0.03%
BJ	B	-0.03%
MTN	F	-0.03%
ELAN	B	-0.03%
SOFI	F	-0.03%
SAIC	C	-0.03%
CBSH	A	-0.03%
TPX	D	-0.03%
BRX	C	-0.03%
CR	A	-0.03%
LAD	D	-0.03%
BERY	D	-0.03%
VOYA	B	-0.03%
CIEN	D	-0.03%
CMA	B	-0.03%
GDDY	A	-0.03%
AXTA	A	-0.03%
OWL	B	-0.03%
OGE	A	-0.03%
EXAS	F	-0.03%
RBC	C	-0.03%
COHR	D	-0.03%
NYT	B	-0.03%
EGP	D	-0.03%
BWXT	D	-0.03%
WCC	B	-0.03%
NOV	D	-0.03%
CACC	D	-0.02%
AM	A	-0.02%
NVST	F	-0.02%
FTRE	D	-0.02%
W	C	-0.02%
PSTG	C	-0.02%
CLVT	F	-0.02%
PK	D	-0.02%
NEU	D	-0.02%
GME	B	-0.02%
VAC	D	-0.02%
FRPT	B	-0.02%
SPR	D	-0.02%
RH	D	-0.02%
MSGS	B	-0.02%
NXST	C	-0.02%
KMPR	B	-0.02%
BEPC	B	-0.02%
CUZ	B	-0.02%
CCCS	F	-0.02%
AWI	D	-0.02%
DXC	F	-0.02%
SLGN	B	-0.02%
MAN	B	-0.02%
ALNY	D	-0.02%
GFS	D	-0.02%
BYD	F	-0.02%
LSXMK	D	-0.02%
GPK	C	-0.02%
CC	C	-0.02%
CPRI	F	-0.02%
KRC	F	-0.02%
OLED	B	-0.02%
IAC	B	-0.02%
HUN	C	-0.02%
GPS	D	-0.02%
VVV	D	-0.02%
COLB	C	-0.02%
SRCL	D	-0.02%
G	D	-0.02%
LNC	C	-0.02%
PII	F	-0.02%
VNT	D	-0.02%
MSM	F	-0.02%
AGO	D	-0.02%
CZR	F	-0.02%
U	F	-0.02%
GMED	C	-0.02%
JHG	A	-0.02%
LAZ	C	-0.02%
RYN	F	-0.02%
COTY	F	-0.02%
HOG	D	-0.02%
AVT	A	-0.02%
VFC	F	-0.02%
PRGO	C	-0.02%
S	D	-0.02%
AAP	D	-0.02%
RLI	A	-0.02%
SITE	F	-0.02%
WTM	A	-0.02%
KD	A	-0.02%
CRUS	A	-0.02%
VNO	F	-0.02%
THG	A	-0.02%
AN	B	-0.02%
DLB	C	-0.02%
FLO	B	-0.02%
VMI	B	-0.02%
LPX	A	-0.02%
ANSS	D	-0.02%
ASH	A	-0.02%
IDA	B	-0.02%
WLK	B	-0.02%
NFG	A	-0.02%
FNB	A	-0.02%
WEX	D	-0.02%
OZK	B	-0.02%
OGN	B	-0.02%
AXS	A	-0.02%
WHR	F	-0.02%
MDU	A	-0.02%
BC	D	-0.02%
THO	D	-0.02%
UGI	B	-0.02%
RGEN	F	-0.02%
NCLH	F	-0.02%
DCI	B	-0.02%
M	D	-0.02%
BFAM	C	-0.02%
WSC	D	-0.02%
SSRM	D	-0.01%
HE	F	-0.01%
SNDR	D	-0.01%
VSTS	F	-0.01%
DNA	F	-0.01%
CNA	B	-0.01%
INFA	D	-0.01%
UAA	F	-0.01%
PLUG	F	-0.01%
UA	D	-0.01%
LSTR	D	-0.01%
CAR	D	-0.01%
CERT	D	-0.01%
NATL	B	-0.01%
FWONA	B	-0.01%
KLG	B	-0.01%
PPC	A	-0.01%
DOCS	F	-0.01%
CPAY	B	-0.01%
VYX	D	-0.01%
MRCY	D	-0.01%
REYN	C	-0.01%
ADT	B	-0.01%
LLYVK	D	-0.01%
MP	D	-0.01%
PATH	D	-0.01%
TNL	D	-0.01%
LSXMA	D	-0.01%
LEG	F	-0.01%
EXEL	F	-0.01%
HAYW	C	-0.01%
QS	F	-0.01%
VIRT	B	-0.01%
RCM	D	-0.01%
IART	F	-0.01%
VSAT	D	-0.01%
PHIN	A	-0.01%
NCNO	D	-0.01%
CWEN	B	-0.01%
CABO	F	-0.01%
ICUI	F	-0.01%
LCID	F	-0.01%
TNDM	B	-0.01%
TDOC	F	-0.01%
ZG	F	-0.01%
TPG	D	-0.01%
PENN	F	-0.01%
SEE	C	-0.01%
QDEL	F	-0.01%
HHH	D	-0.01%
JWN	B	-0.01%
EEFT	C	-0.01%
CHE	D	-0.01%
ZI	F	-0.01%
RUN	D	-0.01%
NYCB	D	-0.01%
LAMR	B	-0.01%
HRB	B	-0.01%
GO	F	-0.01%
SPB	C	-0.01%
WU	C	-0.01%
CNXC	D	-0.01%
BOKF	A	-0.01%
PINC	F	-0.01%
CRI	F	-0.01%
DNB	D	-0.01%
IPGP	D	-0.01%
AGR	B	-0.01%
PRI	D	-0.01%
NSA	D	-0.01%
PLNT	D	-0.01%
GTES	D	-0.01%
KSS	F	-0.01%
BHF	D	-0.01%
ENOV	F	-0.01%
FHB	B	-0.01%
HIW	B	-0.01%
MPW	D	-0.01%
COLM	B	-0.01%
AZTA	D	-0.01%
SLM	B	-0.01%
TRIP	F	-0.01%
NWS	D	-0.01%
LOPE	B	-0.01%
LITE	F	-0.01%
NWL	C	-0.01%
PAG	F	-0.01%
CXT	B	-0.01%
WOLF	F	-0.01%
AMED	C	-0.01%
EXP	A	-0.01%
RBA	D	-0.01%
OLLI	B	-0.01%
EPR	C	-0.01%
RNAC	C	-0.0%
AMBP	B	-0.0%
PLTK	C	-0.0%
UI	D	-0.0%
WOOF	F	-0.0%
AGL	F	-0.0%
OLPX	F	-0.0%
ROIV	B	-0.0%
SAM	D	-0.0%
CART	C	-0.0%
IRDM	D	-0.0%
PARAA	B	-0.0%
NLOP	B	-0.0%
SHC	F	-0.0%
MRVI	B	-0.0%
MUSA	D	-0.0%
UWMC	B	-0.0%
MCW	C	-0.0%
PYCR	F	-0.0%
TFSL	B	-0.0%
TECH	B	-0.0%
HTZ	F	-0.0%
LBRDA	F	-0.0%
DBX	F	-0.0%
LLYVA	D	-0.0%
SEB	C	-0.0%
CAVA	B	-0.0%
DRVN	F	-0.0%
VSCO	F	-0.0%
AMC	F	-0.0%
BSY	A	-0.0%
LECO	D	-0.0%
BIRK	D	-0.0%
CWEN	B	-0.0%
IONS	F	-0.0%
RKT	B	-0.0%
HCP	B	-0.0%