QWLD vs. QVML ETF Comparison

Comparison of SPDR MSCI World Quality Mix ETF (QWLD) to Invesco S&P 500 QVM Multi-factor ETF (QVML)

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

$128.44

Average Daily Volume

3,453

Number of Holdings ^*

610

* may have additional holdings in another (foreign) market

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

Performance

Period	QWLD	QVML
30 Days	0.82%	2.51%
60 Days	0.23%	4.26%
90 Days	0.87%	5.72%
12 Months	22.65%	32.76%

435 Overlapping Holdings

	Symbol	Grade	Weight in QWLD	Weight in QVML	Overlap
	A	D	0.06%	0.08%	0.06%
	AAPL	C	2.57%	7.12%	2.57%
	ABBV	D	0.34%	0.64%	0.34%
	ABBV	D	0.16%	0.64%	0.16%
	ABNB	C	0.01%	0.13%	0.01%
	ABT	B	0.09%	0.41%	0.09%
	ACGL	D	0.26%	0.08%	0.08%
	ACN	C	0.65%	0.47%	0.47%
	ADBE	C	0.42%	0.49%	0.42%
	ADI	D	0.04%	0.23%	0.04%
	ADM	D	0.05%	0.06%	0.05%
	ADP	B	0.26%	0.26%	0.26%
	ADSK	A	0.1%	0.14%	0.1%
	AEE	A	0.09%	0.05%	0.05%
	AEP	D	0.07%	0.1%	0.07%
	AFL	B	0.12%	0.12%	0.12%
	AIG	B	0.07%	0.11%	0.07%
	AIZ	A	0.08%	0.03%	0.03%
	AJG	B	0.19%	0.13%	0.13%
	AKAM	D	0.11%	0.03%	0.03%
	ALGN	D	0.0%	0.03%	0.0%
	ALL	A	0.08%	0.11%	0.08%
	ALLE	D	0.02%	0.03%	0.02%
	AMAT	F	0.29%	0.34%	0.29%
	AMCR	D	0.08%	0.03%	0.03%
	AMD	F	0.03%	0.47%	0.03%
	AME	A	0.01%	0.1%	0.01%
	AMP	A	0.09%	0.12%	0.09%
	AMZN	C	0.37%	3.94%	0.37%
	ANET	C	0.19%	0.21%	0.19%
	ANSS	B	0.0%	0.06%	0.0%
	AON	A	0.17%	0.17%	0.17%
	AOS	F	0.02%	0.02%	0.02%
	APA	D	0.02%	0.02%	0.02%
	APH	A	0.43%	0.2%	0.2%
	APTV	D	0.01%	0.03%	0.01%
	ARE	D	0.01%	0.04%	0.01%
	ATO	A	0.01%	0.04%	0.01%
	AVB	B	0.01%	0.07%	0.01%
	AVGO	D	0.11%	1.61%	0.11%
	AVY	D	0.03%	0.03%	0.03%
	AWK	D	0.01%	0.05%	0.01%
	AXON	A	0.0%	0.09%	0.0%
	AXP	A	0.06%	0.35%	0.06%
	AZO	C	0.28%	0.12%	0.12%
	BAC	A	0.39%	0.69%	0.39%
	BALL	D	0.01%	0.04%	0.01%
	BAX	D	0.01%	0.03%	0.01%
	BBY	D	0.06%	0.04%	0.04%
	BDX	F	0.07%	0.14%	0.07%
	BEN	C	0.01%	0.01%	0.01%
	BG	F	0.03%	0.03%	0.03%
	BK	A	0.05%	0.12%	0.05%
	BKNG	A	0.03%	0.36%	0.03%
	BKR	B	0.02%	0.1%	0.02%
	BLDR	D	0.05%	0.05%	0.05%
	BLK	C	0.25%	0.32%	0.25%
	BR	A	0.04%	0.06%	0.04%
	BRK.A	B	0.73%	1.87%	0.73%
	BRO	B	0.14%	0.06%	0.06%
	BSX	B	0.02%	0.27%	0.02%
	BX	A	0.03%	0.27%	0.03%
	BXP	D	0.01%	0.02%	0.01%
	C	A	0.25%	0.3%	0.25%
	CAG	D	0.04%	0.03%	0.03%
	CAH	B	0.13%	0.06%	0.06%
	CARR	D	0.02%	0.13%	0.02%
	CAT	B	0.36%	0.42%	0.36%
	CB	C	0.4%	0.25%	0.25%
	CBOE	B	0.24%	0.04%	0.04%
	CBRE	B	0.03%	0.08%	0.03%
	CCL	B	0.01%	0.05%	0.01%
	CDNS	B	0.13%	0.18%	0.13%
	CDW	F	0.07%	0.05%	0.05%
	CE	F	0.01%	0.02%	0.01%
	CEG	D	0.02%	0.16%	0.02%
	CF	B	0.13%	0.04%	0.04%
	CFG	B	0.04%	0.05%	0.04%
	CHD	B	0.19%	0.05%	0.05%
	CHRW	C	0.01%	0.03%	0.01%
	CHTR	C	0.05%	0.09%	0.05%
	CI	F	0.18%	0.2%	0.18%
	CINF	A	0.02%	0.05%	0.02%
	CL	D	0.2%	0.16%	0.16%
	CMCSA	B	0.17%	0.37%	0.17%
	CME	A	0.16%	0.17%	0.16%
	CMG	B	0.14%	0.17%	0.14%
	CMI	A	0.1%	0.11%	0.1%
	CMS	C	0.05%	0.04%	0.04%
	CNC	D	0.05%	0.07%	0.05%
	CNP	B	0.01%	0.04%	0.01%
	COF	B	0.1%	0.16%	0.1%
	COP	C	0.1%	0.31%	0.1%
	COR	B	0.41%	0.09%	0.09%
	COST	B	0.76%	0.85%	0.76%
	CPAY	A	0.01%	0.06%	0.01%
	CPB	D	0.09%	0.02%	0.02%
	CPRT	A	0.08%	0.11%	0.08%
	CPT	B	0.01%	0.03%	0.01%
	CRL	C	0.0%	0.02%	0.0%
	CRM	B	0.06%	0.69%	0.06%
	CRWD	B	0.0%	0.18%	0.0%
	CSCO	B	1.03%	0.51%	0.51%
	CSGP	D	0.0%	0.06%	0.0%
	CSX	B	0.11%	0.15%	0.11%
	CTAS	B	0.14%	0.15%	0.14%
	CTRA	B	0.02%	0.04%	0.02%
	CTSH	B	0.2%	0.09%	0.09%
	CTVA	C	0.04%	0.09%	0.04%
	CVS	D	0.16%	0.15%	0.15%
	CVX	A	0.33%	0.63%	0.33%
	D	C	0.06%	0.1%	0.06%
	DAL	C	0.01%	0.08%	0.01%
	DAY	B	0.0%	0.03%	0.0%
	DD	D	0.02%	0.08%	0.02%
	DE	A	0.06%	0.21%	0.06%
	DECK	A	0.05%	0.06%	0.05%
	DFS	B	0.04%	0.1%	0.04%
	DG	F	0.01%	0.04%	0.01%
	DGX	A	0.11%	0.04%	0.04%
	DHI	D	0.1%	0.1%	0.1%
	DHR	F	0.05%	0.33%	0.05%
	DIS	B	0.1%	0.43%	0.1%
	DLR	B	0.02%	0.12%	0.02%
	DLTR	F	0.01%	0.04%	0.01%
	DOC	D	0.01%	0.03%	0.01%
	DOV	A	0.05%	0.06%	0.05%
	DOW	F	0.03%	0.07%	0.03%
	DRI	B	0.03%	0.04%	0.03%
	DTE	C	0.02%	0.05%	0.02%
	DUK	C	0.36%	0.18%	0.18%
	DVA	B	0.01%	0.02%	0.01%
	DVN	F	0.03%	0.06%	0.03%
	EA	A	0.2%	0.09%	0.09%
	EBAY	D	0.01%	0.06%	0.01%
	ECL	D	0.01%	0.13%	0.01%
	ED	D	0.35%	0.07%	0.07%
	EFX	F	0.01%	0.07%	0.01%
	EG	C	0.06%	0.04%	0.04%
	EIX	B	0.03%	0.07%	0.03%
	ELV	F	0.21%	0.2%	0.2%
	EMN	D	0.01%	0.03%	0.01%
	EMR	A	0.03%	0.16%	0.03%
	EOG	A	0.06%	0.18%	0.06%
	EPAM	C	0.02%	0.03%	0.02%
	EQR	B	0.01%	0.05%	0.01%
	EQT	B	0.02%	0.05%	0.02%
	ES	D	0.01%	0.05%	0.01%
	ESS	B	0.01%	0.04%	0.01%
	ETN	A	0.03%	0.31%	0.03%
	ETR	B	0.03%	0.07%	0.03%
	EVRG	A	0.01%	0.03%	0.01%
	EW	C	0.07%	0.09%	0.07%
	EXC	C	0.03%	0.08%	0.03%
	EXPD	D	0.04%	0.04%	0.04%
	EXPE	B	0.01%	0.05%	0.01%
	EXR	D	0.01%	0.07%	0.01%
	F	C	0.09%	0.1%	0.09%
	FANG	D	0.09%	0.08%	0.08%
	FAST	B	0.09%	0.1%	0.09%
	FCX	D	0.02%	0.14%	0.02%
	FDS	B	0.03%	0.04%	0.03%
	FDX	B	0.07%	0.15%	0.07%
	FE	C	0.01%	0.04%	0.01%
	FFIV	B	0.16%	0.03%	0.03%
	FI	A	0.09%	0.26%	0.09%
	FIS	C	0.02%	0.1%	0.02%
	FITB	A	0.03%	0.07%	0.03%
	FOXA	B	0.01%	0.04%	0.01%
	FSLR	F	0.01%	0.04%	0.01%
	FTNT	C	0.01%	0.13%	0.01%
	FTV	C	0.01%	0.06%	0.01%
	GD	F	0.18%	0.14%	0.14%
	GDDY	A	0.25%	0.06%	0.06%
	GE	D	0.31%	0.43%	0.31%
	GEHC	F	0.02%	0.07%	0.02%
	GEN	B	0.12%	0.04%	0.04%
	GEV	B	0.02%	0.18%	0.02%
	GILD	C	0.24%	0.24%	0.24%
	GIS	D	0.33%	0.08%	0.08%
	GLW	B	0.02%	0.08%	0.02%
	GM	B	0.19%	0.15%	0.15%
	GOOG	C	0.94%	4.33%	0.94%
	GPC	D	0.05%	0.04%	0.04%
	GPN	B	0.02%	0.06%	0.02%
	GRMN	B	0.05%	0.07%	0.05%
	GS	A	0.17%	0.43%	0.17%
	GWW	B	0.11%	0.11%	0.11%
	HAL	C	0.02%	0.06%	0.02%
	HBAN	A	0.03%	0.06%	0.03%
	HCA	F	0.04%	0.14%	0.04%
	HD	A	0.15%	0.84%	0.15%
	HES	B	0.01%	0.09%	0.01%
	HIG	B	0.03%	0.07%	0.03%
	HII	D	0.01%	0.02%	0.01%
	HOLX	D	0.01%	0.04%	0.01%
	HON	B	0.26%	0.32%	0.26%
	HPE	B	0.04%	0.07%	0.04%
	HPQ	B	0.04%	0.07%	0.04%
	HRL	D	0.09%	0.02%	0.02%
	HSIC	B	0.01%	0.02%	0.01%
	HST	C	0.01%	0.03%	0.01%
	HSY	F	0.16%	0.05%	0.05%
	HUBB	B	0.04%	0.05%	0.04%
	HUM	C	0.15%	0.08%	0.08%
	HWM	A	0.01%	0.09%	0.01%
	IBM	C	0.46%	0.39%	0.39%
	ICE	C	0.03%	0.19%	0.03%
	IDXX	F	0.07%	0.07%	0.07%
	IEX	B	0.03%	0.04%	0.03%
	IFF	D	0.01%	0.05%	0.01%
	INCY	C	0.15%	0.03%	0.03%
	INTC	D	0.1%	0.25%	0.1%
	INTU	C	0.27%	0.4%	0.27%
	INVH	D	0.01%	0.04%	0.01%
	IP	B	0.02%	0.04%	0.02%
	IPG	D	0.02%	0.02%	0.02%
	IQV	D	0.01%	0.08%	0.01%
	IR	B	0.01%	0.09%	0.01%
	ISRG	A	0.25%	0.4%	0.25%
	IT	C	0.03%	0.09%	0.03%
	ITW	B	0.13%	0.16%	0.13%
	J	F	0.01%	0.04%	0.01%
	JBHT	C	0.03%	0.03%	0.03%
	JBL	B	0.02%	0.03%	0.02%
	JCI	C	0.03%	0.12%	0.03%
	JKHY	D	0.07%	0.03%	0.03%
	JNJ	D	1.1%	0.77%	0.77%
	JNPR	F	0.12%	0.03%	0.03%
	JPM	A	0.6%	1.59%	0.6%
	K	A	0.23%	0.05%	0.05%
	KDP	D	0.14%	0.07%	0.07%
	KEY	B	0.02%	0.04%	0.02%
	KEYS	A	0.17%	0.06%	0.06%
	KHC	F	0.2%	0.05%	0.05%
	KIM	A	0.01%	0.03%	0.01%
	KKR	A	0.02%	0.22%	0.02%
	KLAC	D	0.14%	0.2%	0.14%
	KMB	D	0.11%	0.09%	0.09%
	KMI	A	0.04%	0.11%	0.04%
	KMX	B	0.02%	0.03%	0.02%
	KO	D	0.56%	0.52%	0.52%
	KR	B	0.31%	0.09%	0.09%
	KVUE	A	0.08%	0.09%	0.08%
	L	A	0.17%	0.03%	0.03%
	LDOS	C	0.01%	0.05%	0.01%
	LEN	D	0.09%	0.09%	0.09%
	LH	C	0.02%	0.05%	0.02%
	LHX	C	0.02%	0.1%	0.02%
	LIN	D	0.06%	0.47%	0.06%
	LKQ	D	0.01%	0.02%	0.01%
	LLY	F	1.14%	1.38%	1.14%
	LMT	D	0.42%	0.24%	0.24%
	LNT	A	0.03%	0.03%	0.03%
	LRCX	F	0.18%	0.22%	0.18%
	LULU	C	0.07%	0.08%	0.07%
	LUV	C	0.0%	0.04%	0.0%
	LW	C	0.0%	0.02%	0.0%
	LYB	F	0.03%	0.05%	0.03%
	MA	C	0.71%	0.89%	0.71%
	MAA	B	0.01%	0.04%	0.01%
	MAS	D	0.01%	0.04%	0.01%
	MCHP	D	0.06%	0.08%	0.06%
	MCK	B	0.58%	0.18%	0.18%
	MCO	B	0.13%	0.16%	0.13%
	MDLZ	F	0.14%	0.18%	0.14%
	MDT	D	0.06%	0.24%	0.06%
	MET	A	0.05%	0.11%	0.05%
	META	D	2.11%	2.71%	2.11%
	MGM	D	0.01%	0.02%	0.01%
	MKC	D	0.01%	0.04%	0.01%
	MKTX	D	0.02%	0.02%	0.02%
	MLM	B	0.01%	0.08%	0.01%
	MMC	B	0.51%	0.23%	0.23%
	MMM	D	0.14%	0.16%	0.14%
	MNST	C	0.07%	0.08%	0.07%
	MO	A	0.04%	0.2%	0.04%
	MOH	F	0.06%	0.04%	0.04%
	MOS	F	0.02%	0.02%	0.02%
	MPC	D	0.17%	0.13%	0.13%
	MPWR	F	0.04%	0.06%	0.04%
	MRK	F	0.42%	0.54%	0.42%
	MRNA	F	0.01%	0.03%	0.01%
	MRO	B	0.02%	0.04%	0.02%
	MS	A	0.12%	0.37%	0.12%
	MSFT	F	2.3%	6.58%	2.3%
	MSI	B	0.65%	0.18%	0.18%
	MTB	A	0.05%	0.08%	0.05%
	MU	D	0.04%	0.25%	0.04%
	NDAQ	A	0.01%	0.07%	0.01%
	NEE	D	0.06%	0.31%	0.06%
	NFLX	A	0.54%	0.78%	0.54%
	NI	A	0.01%	0.03%	0.01%
	NKE	D	0.17%	0.2%	0.17%
	NOC	D	0.32%	0.15%	0.15%
	NOW	A	0.01%	0.44%	0.01%
	NRG	B	0.02%	0.04%	0.02%
	NSC	B	0.03%	0.13%	0.03%
	NTAP	C	0.04%	0.05%	0.04%
	NTRS	A	0.02%	0.05%	0.02%
	NUE	C	0.04%	0.08%	0.04%
	NVDA	C	2.53%	7.76%	2.53%
	NVR	D	0.06%	0.06%	0.06%
	NWSA	B	0.01%	0.03%	0.01%
	NXPI	D	0.02%	0.13%	0.02%
	O	D	0.02%	0.1%	0.02%
	ODFL	B	0.08%	0.09%	0.08%
	OKE	A	0.03%	0.14%	0.03%
	OMC	C	0.04%	0.04%	0.04%
	ON	D	0.01%	0.07%	0.01%
	OXY	D	0.03%	0.08%	0.03%
	PANW	C	0.18%	0.28%	0.18%
	PARA	C	0.01%	0.01%	0.01%
	PAYC	B	0.02%	0.02%	0.02%
	PAYX	C	0.1%	0.1%	0.1%
	PCAR	B	0.11%	0.13%	0.11%
	PCG	A	0.03%	0.09%	0.03%
	PEG	A	0.02%	0.09%	0.02%
	PEP	F	0.77%	0.47%	0.47%
	PFG	D	0.02%	0.04%	0.02%
	PG	A	0.95%	0.82%	0.82%
	PGR	A	0.35%	0.32%	0.32%
	PH	A	0.02%	0.19%	0.02%
	PHM	D	0.06%	0.06%	0.06%
	PKG	A	0.04%	0.05%	0.04%
	PLD	D	0.04%	0.22%	0.04%
	PM	B	0.07%	0.41%	0.07%
	PNC	B	0.1%	0.18%	0.1%
	PNR	A	0.03%	0.04%	0.03%
	POOL	C	0.03%	0.03%	0.03%
	PPG	F	0.01%	0.06%	0.01%
	PPL	B	0.01%	0.05%	0.01%
	PRU	A	0.05%	0.1%	0.05%
	PSA	D	0.09%	0.11%	0.09%
	PSX	C	0.14%	0.13%	0.13%
	PTC	A	0.08%	0.05%	0.05%
	PWR	A	0.01%	0.1%	0.01%
	PYPL	B	0.04%	0.2%	0.04%
	QCOM	F	0.32%	0.41%	0.32%
	QRVO	F	0.0%	0.01%	0.0%
	RCL	A	0.01%	0.12%	0.01%
	REG	B	0.01%	0.03%	0.01%
	REGN	F	0.31%	0.18%	0.18%
	RF	A	0.03%	0.05%	0.03%
	RJF	A	0.02%	0.06%	0.02%
	RMD	C	0.05%	0.07%	0.05%
	ROK	B	0.06%	0.07%	0.06%
	ROL	B	0.08%	0.03%	0.03%
	ROP	B	0.48%	0.13%	0.13%
	ROST	C	0.02%	0.1%	0.02%
	RSG	A	0.46%	0.09%	0.09%
	RTX	C	0.09%	0.34%	0.09%
	RVTY	F	0.01%	0.03%	0.01%
	SCHW	B	0.04%	0.26%	0.04%
	SHW	A	0.14%	0.19%	0.14%
	SLB	C	0.03%	0.14%	0.03%
	SMCI	F	0.01%	0.02%	0.01%
	SNA	A	0.04%	0.04%	0.04%
	SNPS	B	0.12%	0.19%	0.12%
	SO	D	0.46%	0.19%	0.19%
	SOLV	C	0.03%	0.02%	0.02%
	SPG	B	0.02%	0.13%	0.02%
	SPGI	C	0.04%	0.34%	0.04%
	SRE	A	0.04%	0.12%	0.04%
	STE	F	0.01%	0.05%	0.01%
	STLD	B	0.02%	0.05%	0.02%
	STT	A	0.03%	0.06%	0.03%
	STZ	D	0.01%	0.08%	0.01%
	SW	A	0.03%	0.06%	0.03%
	SWK	D	0.01%	0.03%	0.01%
	SWKS	F	0.03%	0.03%	0.03%
	SYF	B	0.04%	0.06%	0.04%
	SYK	C	0.03%	0.27%	0.03%
	SYY	B	0.03%	0.08%	0.03%
	T	A	0.39%	0.31%	0.31%
	TAP	C	0.01%	0.02%	0.01%
	TDY	B	0.06%	0.05%	0.05%
	TER	D	0.02%	0.04%	0.02%
	TFC	A	0.09%	0.14%	0.09%
	TFX	F	0.0%	0.02%	0.0%
	TGT	F	0.15%	0.16%	0.15%
	TJX	A	0.35%	0.28%	0.28%
	TMO	F	0.06%	0.43%	0.06%
	TMUS	B	0.76%	0.26%	0.26%
	TRGP	B	0.04%	0.09%	0.04%
	TROW	B	0.05%	0.06%	0.05%
	TRV	B	0.3%	0.12%	0.12%
	TSCO	D	0.06%	0.06%	0.06%
	TSN	B	0.15%	0.04%	0.04%
	TT	A	0.15%	0.2%	0.15%
	TTWO	A	0.01%	0.06%	0.01%
	TXN	C	0.48%	0.42%	0.42%
	TXT	D	0.01%	0.04%	0.01%
	TYL	B	0.0%	0.06%	0.0%
	UBER	D	0.01%	0.33%	0.01%
	UDR	B	0.0%	0.03%	0.0%
	UHS	D	0.01%	0.03%	0.01%
	ULTA	F	0.06%	0.04%	0.04%
	UNH	C	1.35%	1.15%	1.15%
	UNP	C	0.26%	0.31%	0.26%
	UPS	C	0.07%	0.2%	0.07%
	URI	B	0.02%	0.13%	0.02%
	USB	A	0.09%	0.17%	0.09%
	V	A	1.21%	0.99%	0.99%
	VICI	C	0.02%	0.07%	0.02%
	VLO	C	0.08%	0.11%	0.08%
	VLTO	D	0.05%	0.05%	0.05%
	VMC	B	0.01%	0.08%	0.01%
	VRSK	A	0.01%	0.09%	0.01%
	VRTX	F	0.43%	0.27%	0.27%
	VST	B	0.01%	0.1%	0.01%
	VTR	C	0.01%	0.05%	0.01%
	VTRS	A	0.03%	0.03%	0.03%
	VZ	C	0.58%	0.34%	0.34%
	WAB	B	0.01%	0.08%	0.01%
	WAT	B	0.04%	0.05%	0.04%
	WBA	F	0.04%	0.01%	0.01%
	WBD	C	0.07%	0.05%	0.05%
	WDC	D	0.01%	0.04%	0.01%
	WEC	A	0.2%	0.06%	0.06%
	WELL	A	0.02%	0.16%	0.02%
	WFC	A	0.28%	0.58%	0.28%
	WM	A	0.52%	0.17%	0.17%
	WMB	A	0.19%	0.15%	0.15%
	WMT	A	0.76%	0.74%	0.74%
	WRB	A	0.14%	0.04%	0.04%
	WST	C	0.04%	0.05%	0.04%
	WTW	B	0.07%	0.07%	0.07%
	WY	D	0.02%	0.05%	0.02%
	XEL	A	0.09%	0.08%	0.08%
	XOM	B	0.47%	1.22%	0.47%
	XYL	D	0.01%	0.07%	0.01%
	ZBH	C	0.01%	0.05%	0.01%
	ZBRA	B	0.01%	0.04%	0.01%
	ZTS	D	0.15%	0.16%	0.15%

QWLD Overweight 175 Positions Relative to QVML

	Symbol	Grade	Weight
	GOOGL	C	1.07%
	NVS	D	0.79%
	MCD	D	0.42%
	UL	D	0.27%
	WCN	A	0.27%
	HSBH	B	0.25%
	ORCL	B	0.25%
	ORLY	B	0.24%
	MFG	B	0.24%
	BMY	B	0.21%
	PFE	D	0.18%
	CHKP	D	0.17%
	TSLA	B	0.16%
	AMGN	D	0.16%
	TM	D	0.15%
	YUM	B	0.15%
	UTHR	C	0.15%
	BAH	F	0.15%
	VRSN	F	0.14%
	MUFG	B	0.14%
	MKL	A	0.13%
	ERIE	D	0.12%
	TD	F	0.12%
	E	F	0.12%
	NBIX	C	0.11%
	BCS	C	0.11%
	FCNCA	A	0.11%
	DEO	F	0.11%
	CNI	D	0.1%
	SMFG	B	0.1%
	LYG	F	0.09%
	SONY	B	0.08%
	STLA	F	0.08%
	HMC	F	0.07%
	SJM	D	0.07%
	BMRN	D	0.07%
	LOW	D	0.07%
	TPL	A	0.06%
	LNG	B	0.06%
	LOGI	D	0.06%
	DPZ	C	0.06%
	VEEV	C	0.05%
	LPLA	A	0.05%
	BTI	B	0.05%
	DINO	D	0.05%
	FICO	B	0.05%
	MT	B	0.05%
	NEM	D	0.04%
	SBUX	A	0.04%
	MANH	D	0.04%
	WDAY	B	0.04%
	EME	C	0.04%
	GGG	B	0.03%
	APD	A	0.03%
	CSL	C	0.03%
	WSO	A	0.03%
	OC	A	0.03%
	WSM	B	0.03%
	ALLY	C	0.02%
	EQIX	A	0.02%
	TTC	D	0.02%
	ACI	C	0.02%
	SQ	B	0.02%
	APO	B	0.02%
	RS	B	0.02%
	SEIC	B	0.02%
	NMR	B	0.02%
	OVV	B	0.02%
	AER	B	0.02%
	AFG	A	0.02%
	NDSN	B	0.02%
	AMT	D	0.02%
	DKS	C	0.02%
	DASH	A	0.01%
	WTRG	B	0.01%
	CTLT	B	0.01%
	RPRX	D	0.01%
	SBAC	D	0.01%
	MBAVU	D	0.01%
	EL	F	0.01%
	GLPI	C	0.01%
	RPM	A	0.01%
	TRU	D	0.01%
	TRMB	B	0.01%
	FOX	A	0.01%
	AVTR	F	0.01%
	SUI	D	0.01%
	CLX	B	0.01%
	BURL	A	0.01%
	IRM	D	0.01%
	WPC	D	0.01%
	STX	D	0.01%
	TWLO	A	0.01%
	HLT	A	0.01%
	CG	A	0.01%
	COIN	C	0.01%
	AES	F	0.01%
	CCEP	C	0.01%
	ACM	A	0.01%
	ZM	B	0.01%
	CHRD	D	0.01%
	CCK	C	0.01%
	AGCO	D	0.01%
	TDG	D	0.01%
	SSNC	B	0.01%
	WFG	D	0.01%
	SE	B	0.01%
	KNX	B	0.01%
	OTIS	C	0.01%
	BSY	D	0.01%
	ALB	C	0.01%
	MRVL	B	0.01%
	EQH	B	0.01%
	FNF	B	0.01%
	MAR	B	0.01%
	CRBG	B	0.01%
	DELL	C	0.01%
	BIIB	F	0.01%
	MELI	D	0.01%
	BA	F	0.01%
	CCI	D	0.01%
	CNH	C	0.01%
	ENPH	F	0.01%
	GLBE	B	0.0%
	IOT	A	0.0%
	NET	B	0.0%
	RBLX	C	0.0%
	XRX	F	0.0%
	DDOG	A	0.0%
	DKNG	B	0.0%
	TOST	B	0.0%
	SNAP	C	0.0%
	H	B	0.0%
	PSTG	D	0.0%
	FUTU	D	0.0%
	HEI	B	0.0%
	PINS	D	0.0%
	DT	C	0.0%
	SNOW	C	0.0%
	DOCU	A	0.0%
	EXAS	D	0.0%
	PODD	C	0.0%
	GRAB	B	0.0%
	TECH	D	0.0%
	ROKU	D	0.0%
	WYNN	D	0.0%
	OKTA	C	0.0%
	DXCM	D	0.0%
	MSTR	C	0.0%
	LII	A	0.0%
	TTD	B	0.0%
	ELS	C	0.0%
	HOOD	B	0.0%
	ENTG	D	0.0%
	TW	A	0.0%
	HEI	B	0.0%
	RIVN	F	0.0%
	Z	A	0.0%
	WLK	D	0.0%
	MTCH	D	0.0%
	LYV	A	0.0%
	QGEN	D	0.0%
	VRT	B	0.0%
	APP	B	0.0%
	BBWI	D	0.0%
	MSCI	C	0.0%
	LVS	C	0.0%
	BIO	D	0.0%
	ILMN	D	0.0%
	OTEX	D	0.0%
	AMH	D	0.0%
	PLTR	B	0.0%
	UHAL	D	0.0%
	ARES	A	0.0%
	FBIN	D	0.0%

QWLD Underweight 13 Positions Relative to QVML

	Symbol	Grade	Weight
	UAL	A	-0.06%
	GNRC	B	-0.03%
	TPR	B	-0.03%
	FMC	D	-0.02%
	MHK	D	-0.02%
	FRT	B	-0.02%
	RL	B	-0.02%
	IVZ	B	-0.02%
	CZR	F	-0.02%
	BWA	D	-0.02%
	GL	B	-0.02%
	PNW	B	-0.02%
	NCLH	B	-0.02%

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

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