SPGM vs. BIV ETF Comparison

Comparison of SPDR Portfolio MSCI Global Stock Market ETF (SPGM) to Vanguard Intermediate-Term Bond ETF (BIV)

SPGM

SPDR Portfolio MSCI Global Stock Market ETF

SPGM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index and in depositary receipts based on securities comprising the index. The index is a free float-adjusted market capitalization-weighted index that is designed to measure the combined equity market performance of developed and emerging markets.

Grade (RS Rating)

Last Trade

$59.70

Average Daily Volume

38,030

Number of Holdings ^*

999

* may have additional holdings in another (foreign) market

BIV

Vanguard Intermediate-Term Bond ETF

BIV Description

The investment seeks the performance of a market-weighted bond index with an intermediate-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Government/Credit Float Adjusted Index. This Index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 5 and 10 years and are publicly issued. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds held in the index.

Grade (RS Rating)

Last Trade

$74.02

Average Daily Volume

1,081,314

Number of Holdings ^*

488

* may have additional holdings in another (foreign) market

Performance

Period	SPGM	BIV
30 Days	0.42%	-0.16%
60 Days	1.67%	-1.30%
90 Days	4.63%	-0.34%
12 Months	21.07%	-0.60%

234 Overlapping Holdings

Symbol	Grade	Weight in SPGM	Weight in BIV	Overlap
A	C	0.24%	0.01%	0.01%
AAPL	B	3.24%	0.01%	0.01%
ABBV	D	0.38%	0.05%	0.05%
ABBV	D	0.18%	0.05%	0.05%
ABT	F	0.37%	0.01%	0.01%
ADBE	D	0.35%	0.02%	0.02%
ADI	A	0.18%	0.02%	0.02%
ADM	C	0.1%	0.02%	0.02%
ADP	D	0.21%	0.02%	0.02%
ADSK	F	0.01%	0.01%	0.01%
AEP	A	0.16%	0.01%	0.01%
AES	B	0.01%	0.01%	0.01%
AFL	A	0.22%	0.01%	0.01%
ALL	B	0.15%	0.01%	0.01%
ALLE	D	0.04%	0.01%	0.01%
AMAT	C	0.35%	0.01%	0.01%
AMG	D	0.0%	0.02%	0.0%
AMGN	B	0.22%	0.01%	0.01%
AMT	D	0.16%	0.01%	0.01%
AMZN	A	2.08%	0.02%	0.02%
AON	F	0.06%	0.01%	0.01%
APD	C	0.07%	0.01%	0.01%
APTV	D	0.0%	0.01%	0.0%
AVGO	C	0.79%	0.01%	0.01%
AXP	A	0.33%	0.05%	0.05%
AZN	A	0.1%	0.01%	0.01%
BA	F	0.13%	0.01%	0.01%
BABA	C	0.18%	0.03%	0.03%
BABA	C	0.02%	0.03%	0.02%
BAC	B	0.46%	0.01%	0.01%
BAX	F	0.07%	0.01%	0.01%
BDX	F	0.18%	0.01%	0.01%
BEN	F	0.06%	0.01%	0.01%
BHF	D	0.01%	0.01%	0.01%
BIDU	C	0.04%	0.01%	0.01%
BIIB	C	0.1%	0.04%	0.04%
BK	A	0.16%	0.01%	0.01%
BKNG	B	0.24%	0.01%	0.01%
BLK	D	0.07%	0.01%	0.01%
BMY	F	0.12%	0.01%	0.01%
BSX	B	0.13%	0.02%	0.02%
C	A	0.26%	0.01%	0.01%
CAG	B	0.06%	0.02%	0.02%
CARR	A	0.06%	0.02%	0.02%
CAT	D	0.3%	0.01%	0.01%
CB	C	0.29%	0.03%	0.03%
CFG	A	0.02%	0.01%	0.01%
CHD	A	0.08%	0.01%	0.01%
CHRW	C	0.06%	0.02%	0.02%
CHTR	F	0.08%	0.02%	0.02%
CI	D	0.09%	0.01%	0.01%
CLX	F	0.12%	0.01%	0.01%
CMCSA	D	0.18%	0.01%	0.01%
CME	C	0.09%	0.01%	0.01%
CMI	B	0.23%	0.01%	0.01%
COF	B	0.13%	0.01%	0.01%
COP	C	0.23%	0.01%	0.01%
COST	B	0.53%	0.01%	0.01%
CRM	D	0.46%	0.02%	0.02%
CSX	D	0.2%	0.01%	0.01%
CTVA	B	0.08%	0.01%	0.01%
CVS	F	0.18%	0.01%	0.01%
CVX	B	0.4%	0.01%	0.01%
DD	A	0.08%	0.05%	0.05%
DE	B	0.2%	0.01%	0.01%
DELL	B	0.02%	0.01%	0.01%
DFS	C	0.16%	0.02%	0.02%
DHI	D	0.0%	0.01%	0.0%
DHR	C	0.33%	0.01%	0.01%
DIS	D	0.32%	0.01%	0.01%
DLR	D	0.01%	0.02%	0.01%
DLTR	F	0.08%	0.03%	0.03%
DOC	A	0.05%	0.02%	0.02%
DOW	C	0.08%	0.01%	0.01%
DT	F	0.0%	0.11%	0.0%
DUK	A	0.1%	0.01%	0.01%
DVN	B	0.02%	0.01%	0.01%
DXC	F	0.01%	0.02%	0.01%
EA	F	0.0%	0.02%	0.0%
EBAY	D	0.1%	0.02%	0.02%
ECL	A	0.14%	0.01%	0.01%
EIX	A	0.11%	0.01%	0.01%
EL	F	0.11%	0.01%	0.01%
EMR	C	0.2%	0.01%	0.01%
EOG	B	0.18%	0.02%	0.02%
EPRT	A	0.01%	0.01%	0.01%
EQIX	F	0.04%	0.01%	0.01%
EQR	A	0.06%	0.01%	0.01%
ETN	A	0.23%	0.02%	0.02%
EXC	B	0.07%	0.01%	0.01%
EXPE	F	0.01%	0.02%	0.01%
FDX	D	0.18%	0.01%	0.01%
FIS	C	0.01%	0.01%	0.01%
FOXA	B	0.04%	0.02%	0.02%
FTNT	F	0.02%	0.01%	0.01%
GD	A	0.25%	0.02%	0.02%
GE	A	0.15%	0.02%	0.02%
GILD	F	0.15%	0.01%	0.01%
GIS	C	0.06%	0.01%	0.01%
GM	B	0.08%	0.01%	0.01%
GOOGL	B	1.16%	0.02%	0.02%
GPN	F	0.01%	0.01%	0.01%
GS	A	0.3%	0.01%	0.01%
GXO	C	0.0%	0.01%	0.0%
HAL	F	0.07%	0.02%	0.02%
HCA	D	0.02%	0.02%	0.02%
HD	D	0.52%	0.01%	0.01%
HES	B	0.15%	0.01%	0.01%
HON	C	0.2%	0.01%	0.01%
HPQ	C	0.09%	0.02%	0.02%
HST	D	0.0%	0.02%	0.0%
HSY	B	0.14%	0.01%	0.01%
IBM	D	0.24%	0.01%	0.01%
IFF	A	0.02%	0.01%	0.01%
ILMN	F	0.01%	0.01%	0.01%
INTC	F	0.19%	0.01%	0.01%
INTU	D	0.38%	0.01%	0.01%
ITW	D	0.14%	0.01%	0.01%
JCI	B	0.16%	0.01%	0.01%
JNJ	F	0.41%	0.01%	0.01%
JNPR	D	0.06%	0.01%	0.01%
JPM	B	0.82%	0.01%	0.01%
K	B	0.05%	0.01%	0.01%
KEX	A	0.01%	0.01%	0.01%
KEYS	D	0.13%	0.01%	0.01%
KIM	C	0.0%	0.01%	0.0%
KLAC	A	0.05%	0.02%	0.02%
KMB	B	0.12%	0.01%	0.01%
KMI	A	0.02%	0.01%	0.01%
KO	A	0.32%	0.01%	0.01%
KSS	F	0.02%	0.01%	0.01%
LDOS	A	0.03%	0.02%	0.02%
LIN	D	0.32%	0.01%	0.01%
LLY	C	0.76%	0.01%	0.01%
LMT	A	0.24%	0.02%	0.02%
LOW	D	0.29%	0.01%	0.01%
LRCX	D	0.09%	0.02%	0.02%
LVS	D	0.04%	0.02%	0.02%
LYB	C	0.09%	0.01%	0.01%
MA	D	0.42%	0.01%	0.01%
MCD	F	0.23%	0.02%	0.02%
MDLZ	B	0.06%	0.01%	0.01%
MDT	D	0.23%	0.01%	0.01%
MET	C	0.19%	0.02%	0.02%
MKC	B	0.12%	0.01%	0.01%
MMC	C	0.17%	0.02%	0.02%
MMM	B	0.08%	0.01%	0.01%
MO	A	0.08%	0.01%	0.01%
MOS	F	0.03%	0.02%	0.02%
MP	D	0.0%	0.01%	0.0%
MPC	D	0.23%	0.01%	0.01%
MRK	B	0.47%	0.02%	0.02%
MRO	D	0.08%	0.02%	0.02%
MRVL	D	0.04%	0.01%	0.01%
MS	A	0.24%	0.04%	0.04%
MSFT	C	3.56%	0.1%	0.1%
MTB	A	0.1%	0.02%	0.02%
MU	B	0.09%	0.02%	0.02%
MUFG	D	0.16%	0.02%	0.02%
NEE	B	0.24%	0.01%	0.01%
NEM	B	0.04%	0.02%	0.02%
NKE	D	0.25%	0.01%	0.01%
NOC	B	0.18%	0.02%	0.02%
NOV	D	0.01%	0.01%	0.01%
NOW	D	0.12%	0.03%	0.03%
NSC	D	0.17%	0.01%	0.01%
NTAP	B	0.09%	0.01%	0.01%
NUE	F	0.02%	0.01%	0.01%
NVDA	B	2.67%	0.03%	0.03%
NVT	A	0.01%	0.01%	0.01%
NXPI	A	0.01%	0.01%	0.01%
ORCL	D	0.31%	0.01%	0.01%
ORLY	D	0.21%	0.01%	0.01%
OTIS	D	0.04%	0.01%	0.01%
PCG	B	0.0%	0.01%	0.0%
PEG	A	0.12%	0.01%	0.01%
PEP	B	0.31%	0.01%	0.01%
PFE	D	0.2%	0.01%	0.01%
PG	A	0.51%	0.01%	0.01%
PGR	A	0.15%	0.02%	0.02%
PH	B	0.15%	0.02%	0.02%
PLD	D	0.23%	0.01%	0.01%
PM	A	0.17%	0.01%	0.01%
PNC	B	0.14%	0.01%	0.01%
PRU	A	0.15%	0.01%	0.01%
PSA	D	0.19%	0.01%	0.01%
PSX	D	0.07%	0.01%	0.01%
PXD	B	0.17%	0.02%	0.02%
PYPL	C	0.13%	0.02%	0.02%
QCOM	B	0.31%	0.02%	0.02%
REG	F	0.0%	0.01%	0.0%
REGN	C	0.12%	0.02%	0.02%
ROST	D	0.18%	0.01%	0.01%
RTX	A	0.31%	0.01%	0.01%
SBUX	F	0.22%	0.01%	0.01%
SCHW	A	0.18%	0.01%	0.01%
SHW	D	0.03%	0.01%	0.01%
SJM	F	0.08%	0.01%	0.01%
SLB	F	0.09%	0.03%	0.03%
SO	A	0.07%	0.01%	0.01%
SPG	C	0.13%	0.01%	0.01%
SPGI	C	0.21%	0.01%	0.01%
STT	C	0.07%	0.01%	0.01%
SYF	B	0.04%	0.02%	0.02%
SYK	D	0.19%	0.02%	0.02%
SYY	D	0.14%	0.02%	0.02%
T	B	0.18%	0.01%	0.01%
TD	F	0.14%	0.01%	0.01%
TEL	C	0.17%	0.02%	0.02%
TGT	D	0.15%	0.01%	0.01%
TJX	C	0.3%	0.01%	0.01%
TME	B	0.0%	0.01%	0.0%
TMO	D	0.47%	0.01%	0.01%
TMUS	B	0.05%	0.04%	0.04%
TSN	B	0.08%	0.03%	0.03%
TT	A	0.16%	0.01%	0.01%
TXN	A	0.38%	0.01%	0.01%
UNH	C	0.63%	0.01%	0.01%
UNP	C	0.29%	0.01%	0.01%
UPS	D	0.13%	0.01%	0.01%
USB	D	0.11%	0.01%	0.01%
V	C	0.67%	0.01%	0.01%
VLO	D	0.15%	0.01%	0.01%
VNT	D	0.01%	0.01%	0.01%
VTRS	C	0.01%	0.02%	0.01%
VZ	D	0.14%	0.01%	0.01%
WBA	F	0.03%	0.01%	0.01%
WFC	A	0.38%	0.04%	0.04%
WIT	D	0.06%	0.35%	0.06%
WM	B	0.24%	0.01%	0.01%
WMB	A	0.06%	0.01%	0.01%
WMT	C	0.32%	0.01%	0.01%
XOM	B	0.58%	0.01%	0.01%
ZTS	D	0.09%	0.01%	0.01%

SPGM Overweight 765 Positions Relative to BIV

Symbol	Grade	Weight
META	D	1.24%
GOOG	B	1.19%
TSM	B	0.84%
BRK.A	D	0.68%
TSLA	D	0.66%
TM	D	0.37%
CSCO	D	0.33%
AMD	D	0.3%
NFLX	C	0.28%
ACN	D	0.26%
ELV	A	0.25%
MCK	B	0.24%
NVS	B	0.23%
SONY	F	0.2%
TRV	D	0.19%
IBN	B	0.17%
UL	A	0.16%
CNI	D	0.16%
CL	A	0.14%
INFY	D	0.14%
CMG	A	0.13%
YUM	C	0.13%
IR	D	0.13%
UBER	D	0.13%
RDY	C	0.13%
CTSH	D	0.12%
FAST	D	0.12%
SHOP	F	0.11%
GLW	B	0.11%
CEG	A	0.11%
PDD	B	0.1%
ISRG	D	0.09%
CRWD	C	0.09%
VALE	C	0.09%
F	D	0.09%
CHT	C	0.09%
ROIC	D	0.09%
PANW	B	0.09%
STLA	D	0.09%
WDC	B	0.08%
MELI	B	0.08%
UMH	C	0.08%
DEO	D	0.08%
VRTX	C	0.07%
FTV	D	0.07%
FE	A	0.07%
UMC	C	0.07%
OXY	C	0.07%
PKX	F	0.07%
SMFG	D	0.07%
PPL	A	0.07%
ITUB	D	0.06%
VGR	D	0.06%
NXRT	B	0.06%
BCS	A	0.06%
VRT	A	0.06%
MFG	D	0.06%
ABNB	D	0.06%
DEA	B	0.06%
STX	C	0.06%
HPE	D	0.06%
E	C	0.06%
TCOM	A	0.06%
HDB	D	0.06%
BX	D	0.05%
SNOW	F	0.05%
COIN	D	0.05%
PLTR	D	0.05%
SNPS	D	0.05%
LYG	A	0.05%
LW	F	0.05%
SMCI	D	0.05%
ANET	C	0.05%
NMR	D	0.05%
FCX	B	0.05%
TPR	D	0.04%
GEV	C	0.04%
HMC	D	0.04%
YUMC	F	0.04%
BBD	F	0.04%
BRSP	F	0.04%
KB	B	0.04%
PBR	A	0.04%
TTD	B	0.04%
MOD	A	0.04%
GOOD	A	0.04%
VLTO	A	0.04%
MRNA	B	0.04%
LULU	F	0.03%
WDAY	F	0.03%
MT	F	0.03%
CHX	D	0.03%
ACRE	F	0.03%
GEHC	D	0.03%
LI	F	0.03%
MPWR	B	0.03%
FTI	B	0.03%
AXNX	C	0.03%
TMDX	B	0.03%
LNW	D	0.03%
SE	B	0.03%
DASH	D	0.03%
DDOG	D	0.03%
MDB	F	0.03%
DXCM	D	0.03%
CHCT	F	0.03%
SQ	D	0.03%
KVUE	C	0.03%
NET	F	0.03%
AXON	B	0.03%
DX	C	0.03%
APA	F	0.02%
IMXI	D	0.02%
ENPH	F	0.02%
ON	F	0.02%
VIPS	D	0.02%
QTWO	A	0.02%
FSLR	B	0.02%
OII	B	0.02%
BLDR	D	0.02%
VEEV	D	0.02%
SKY	D	0.02%
APP	B	0.02%
ACEL	C	0.02%
AIV	B	0.02%
MSTR	D	0.02%
SNAP	B	0.02%
ZM	F	0.02%
HIMS	D	0.02%
ALLY	B	0.02%
CDNS	D	0.02%
CELH	D	0.02%
PINS	A	0.02%
MTDR	D	0.02%
GGB	C	0.02%
URI	D	0.02%
IIPR	B	0.02%
AZEK	D	0.02%
TAL	B	0.02%
TBBK	D	0.02%
INSP	D	0.02%
TAC	C	0.02%
KOS	D	0.02%
AHH	B	0.02%
PBF	D	0.02%
ZS	F	0.02%
TTGT	F	0.02%
WTTR	B	0.02%
WBD	F	0.02%
GOLD	B	0.02%
PLAY	D	0.02%
PARA	C	0.02%
HOV	B	0.02%
HUBS	D	0.02%
ABEV	F	0.02%
CF	F	0.02%
SHG	B	0.02%
TEAM	F	0.02%
RCL	A	0.02%
BKR	D	0.02%
DKNG	D	0.02%
LNTH	B	0.02%
ITCI	C	0.02%
QS	F	0.01%
CIB	C	0.01%
LIND	F	0.01%
DRH	F	0.01%
TXG	F	0.01%
DOMO	F	0.01%
ARVN	D	0.01%
CSGP	C	0.01%
BE	C	0.01%
AUR	B	0.01%
ELF	D	0.01%
NEO	D	0.01%
ELAN	B	0.01%
RCKT	D	0.01%
ROCK	D	0.01%
PNTG	A	0.01%
RNA	B	0.01%
RGEN	F	0.01%
KLG	B	0.01%
CCO	D	0.01%
VPG	F	0.01%
MGNI	F	0.01%
PNR	C	0.01%
BLBD	C	0.01%
RPAY	B	0.01%
HEES	F	0.01%
FBK	B	0.01%
HCAT	F	0.01%
ITRI	A	0.01%
ZETA	B	0.01%
ASAN	F	0.01%
RAMP	F	0.01%
FLYW	F	0.01%
PLAB	B	0.01%
GNRC	B	0.01%
KD	A	0.01%
BTU	F	0.01%
WRLD	B	0.01%
OGN	B	0.01%
SONO	D	0.01%
LOB	D	0.01%
BILL	F	0.01%
ALEX	C	0.01%
CC	C	0.01%
LASR	C	0.01%
CMPR	D	0.01%
CASH	B	0.01%
OSW	B	0.01%
TDOC	F	0.01%
GTLB	F	0.01%
EVH	F	0.01%
Z	F	0.01%
FOUR	F	0.01%
INTA	D	0.01%
BGNE	C	0.01%
SLP	B	0.01%
SQM	D	0.01%
IMVT	F	0.01%
PCH	D	0.01%
IDXX	D	0.01%
CLBT	D	0.01%
LBRDK	F	0.01%
PHI	B	0.01%
CLNE	F	0.01%
HASI	A	0.01%
SPT	F	0.01%
BZ	B	0.01%
MNDY	D	0.01%
M	D	0.01%
RDNT	B	0.01%
W	C	0.01%
FUTU	B	0.01%
TGI	C	0.01%
ATKR	D	0.01%
PTCT	C	0.01%
MDGL	D	0.01%
XPO	D	0.01%
YETI	F	0.01%
COMP	D	0.01%
PATH	D	0.01%
ZTO	C	0.01%
PACK	B	0.01%
AMR	D	0.01%
RVLV	C	0.01%
TGTX	C	0.01%
PAY	D	0.01%
MCRI	D	0.01%
EFC	B	0.01%
RIOT	F	0.01%
AGNC	C	0.01%
CPRX	D	0.01%
JKS	C	0.01%
TWST	B	0.01%
VKTX	B	0.01%
IQ	C	0.01%
BASE	D	0.01%
MITK	B	0.01%
SEMR	A	0.01%
RLX	B	0.01%
PEN	F	0.01%
AKRO	F	0.01%
ROKU	F	0.01%
RCUS	F	0.01%
JELD	F	0.01%
BZH	D	0.01%
VSTO	A	0.01%
CZR	F	0.01%
AAON	C	0.01%
XPEV	F	0.01%
ACMR	D	0.01%
ADMA	A	0.01%
ULH	A	0.01%
DOCU	B	0.01%
SOFI	F	0.01%
PRTA	F	0.01%
PHR	F	0.01%
JBI	D	0.01%
POWL	B	0.01%
COLL	C	0.01%
TWLO	D	0.01%
SRPT	B	0.01%
INMD	F	0.01%
CENX	B	0.01%
ERJ	B	0.01%
DQ	F	0.01%
SRRK	D	0.01%
KOP	F	0.01%
CCS	D	0.01%
EVBG	B	0.01%
MBIN	B	0.01%
PTEN	F	0.01%
MRC	D	0.01%
CROX	C	0.01%
GSAT	F	0.01%
HSTM	B	0.01%
EXAS	F	0.01%
ENS	B	0.01%
U	F	0.01%
IDYA	D	0.01%
MARA	C	0.01%
AKO.A	B	0.01%
MHO	D	0.01%
VERX	D	0.01%
CLDX	D	0.01%
RIVN	F	0.01%
MATX	B	0.01%
ATLC	F	0.01%
ALGN	F	0.01%
BEKE	B	0.01%
TOST	A	0.01%
RYTM	D	0.01%
GMS	C	0.01%
SQ	D	0.01%
ORA	C	0.01%
CLDT	F	0.01%
THR	A	0.01%
NWSA	D	0.01%
NIO	C	0.01%
GERN	B	0.01%
ABR	B	0.01%
SWAV	A	0.01%
FLNG	C	0.01%
AFRM	D	0.01%
GRBK	D	0.01%
BBWI	C	0.01%
DVAX	D	0.01%
AGYS	B	0.01%
CVNA	B	0.01%
ARWR	F	0.01%
OKTA	D	0.01%
SID	F	0.01%
PLMR	A	0.01%
TREX	D	0.01%
OMI	F	0.01%
TEVA	B	0.01%
ALB	C	0.01%
INBX	D	0.01%
GMRE	D	0.01%
BBIO	F	0.01%
CCL	F	0.01%
EPAM	D	0.01%
CLSK	D	0.01%
DYN	D	0.01%
SOLV	C	0.01%
DCPH	A	0.01%
FICO	C	0.01%
RBLX	C	0.01%
SBLK	A	0.0%
KRYS	D	0.0%
SRG	D	0.0%
XPEV	F	0.0%
SMWB	D	0.0%
LI	F	0.0%
ALEC	F	0.0%
JOBY	D	0.0%
WW	F	0.0%
ATUS	F	0.0%
FORR	F	0.0%
JAMF	B	0.0%
IHRT	D	0.0%
OLMA	F	0.0%
AGL	F	0.0%
CRCT	B	0.0%
OEC	B	0.0%
REPX	F	0.0%
MORF	F	0.0%
TPB	B	0.0%
FRGE	F	0.0%
TH	C	0.0%
FLWS	D	0.0%
EVC	C	0.0%
ZNTL	F	0.0%
ASTH	D	0.0%
BMBL	F	0.0%
TBI	F	0.0%
MLNK	F	0.0%
MLCO	D	0.0%
GDS	D	0.0%
SHYF	C	0.0%
UNIT	F	0.0%
HROW	F	0.0%
TELL	F	0.0%
RGNX	F	0.0%
DADA	F	0.0%
MCB	B	0.0%
SHEN	D	0.0%
DAN	C	0.0%
BOC	F	0.0%
LGIH	F	0.0%
FSBC	D	0.0%
AMRC	C	0.0%
MVIS	F	0.0%
EDIT	F	0.0%
PKST	F	0.0%
FIGS	D	0.0%
KE	C	0.0%
PRVA	F	0.0%
GDOT	C	0.0%
CEVA	D	0.0%
SNCY	F	0.0%
FNA	F	0.0%
DENN	F	0.0%
PFC	B	0.0%
FLGT	F	0.0%
CGEM	B	0.0%
OVV	C	0.0%
OLO	F	0.0%
CABA	F	0.0%
LUMN	F	0.0%
TRUP	F	0.0%
ORLA	B	0.0%
QFIN	A	0.0%
BEAM	F	0.0%
ELVN	B	0.0%
MRVI	B	0.0%
NNVC	A	0.0%
MOFG	D	0.0%
MGPI	D	0.0%
COMM	F	0.0%
VIR	F	0.0%
AMC	F	0.0%
PDFS	F	0.0%
PLL	D	0.0%
ZEUS	F	0.0%
CTKB	F	0.0%
VERV	F	0.0%
CAN	F	0.0%
ALHC	B	0.0%
CNDT	B	0.0%
VNET	C	0.0%
LPRO	F	0.0%
HOG	D	0.0%
SAVA	C	0.0%
BROS	C	0.0%
MNSO	B	0.0%
GRPN	F	0.0%
SGRY	F	0.0%
SNPO	B	0.0%
MXL	D	0.0%
NABL	D	0.0%
LSCC	F	0.0%
OSPN	B	0.0%
SHC	F	0.0%
XPOF	F	0.0%
CECO	B	0.0%
AOSL	B	0.0%
NCNO	D	0.0%
MDXG	D	0.0%
MAT	D	0.0%
NMIH	A	0.0%
CALX	F	0.0%
HIBB	A	0.0%
ZUO	B	0.0%
LAW	B	0.0%
MAX	C	0.0%
CEIX	D	0.0%
EYE	F	0.0%
WTO	C	0.0%
LAND	D	0.0%
SITM	C	0.0%
YOU	F	0.0%
ETNB	F	0.0%
HAE	B	0.0%
ADUS	A	0.0%
GOGO	C	0.0%
HURN	F	0.0%
BVN	B	0.0%
CRNC	F	0.0%
MODN	B	0.0%
GKOS	B	0.0%
NARI	F	0.0%
APPN	F	0.0%
SOUN	D	0.0%
XHR	D	0.0%
WOLF	F	0.0%
GH	D	0.0%
VCYT	F	0.0%
PDFS	F	0.0%
ICHR	D	0.0%
TMCI	F	0.0%
THO	D	0.0%
RENB	F	0.0%
LILAK	B	0.0%
CAR	D	0.0%
CUBI	D	0.0%
IBP	D	0.0%
NOVA	F	0.0%
SWBI	C	0.0%
PACB	F	0.0%
NKLA	F	0.0%
ATEN	B	0.0%
IDT	C	0.0%
LMND	C	0.0%
IRTC	F	0.0%
CLOV	D	0.0%
KRUS	C	0.0%
ATRO	C	0.0%
DH	F	0.0%
TLRY	D	0.0%
THRM	D	0.0%
ME	F	0.0%
CRSR	F	0.0%
FUBO	F	0.0%
KNSA	B	0.0%
PARR	F	0.0%
DNOW	C	0.0%
SABR	D	0.0%
MNTK	F	0.0%
NVAX	F	0.0%
TASK	B	0.0%
SPCE	F	0.0%
CHEF	C	0.0%
VSCO	F	0.0%
FVRR	F	0.0%
COTY	F	0.0%
PCVX	C	0.0%
RIG	F	0.0%
ADPT	D	0.0%
ENVA	C	0.0%
UVV	B	0.0%
CCB	B	0.0%
S	D	0.0%
EMBC	F	0.0%
RXST	B	0.0%
DGII	F	0.0%
ESTA	B	0.0%
SM	B	0.0%
PENN	F	0.0%
HAYN	D	0.0%
ENIC	B	0.0%
QTRX	F	0.0%
AA	B	0.0%
NEOG	F	0.0%
HAYW	C	0.0%
HL	B	0.0%
SVC	F	0.0%
SANA	B	0.0%
ALTG	D	0.0%
ULCC	D	0.0%
NVCR	D	0.0%
NVRI	D	0.0%
LUNG	D	0.0%
LCID	F	0.0%
RVNC	F	0.0%
CXM	D	0.0%
GLBE	F	0.0%
IAS	F	0.0%
LWLG	F	0.0%
NEXT	B	0.0%
HRI	D	0.0%
UCTT	C	0.0%
SIBN	F	0.0%
OSUR	F	0.0%
APLS	F	0.0%
ARLO	A	0.0%
ATHM	B	0.0%
NTRA	B	0.0%
GPRO	F	0.0%
RAPT	F	0.0%
SQSP	A	0.0%
FIZZ	D	0.0%
MQ	D	0.0%
LAZR	D	0.0%
AEHR	F	0.0%
DHC	F	0.0%
XPRO	B	0.0%
APLD	F	0.0%
SPWR	F	0.0%
RKT	B	0.0%
AVNS	D	0.0%
AX	A	0.0%
YY	C	0.0%
IAG	B	0.0%
PODD	C	0.0%
AMRK	B	0.0%
NNDM	F	0.0%
SHLS	F	0.0%
VMAR	D	0.0%
VZIO	D	0.0%
ATEC	F	0.0%
PL	F	0.0%
PUBM	B	0.0%
BRBR	C	0.0%
SEDG	F	0.0%
RVMD	B	0.0%
BURL	D	0.0%
SFIX	F	0.0%
CCBG	D	0.0%
BIGC	F	0.0%
GRAB	B	0.0%
MED	F	0.0%
WRBY	F	0.0%
ACHR	F	0.0%
RRC	B	0.0%
CLF	F	0.0%
ARDX	C	0.0%
PETQ	D	0.0%
YEXT	F	0.0%
PTGX	D	0.0%
MOMO	C	0.0%
AXSM	B	0.0%
IIIV	B	0.0%
WGO	D	0.0%
DBI	D	0.0%
UWMC	B	0.0%
HTHT	B	0.0%
QNST	B	0.0%
CSTL	B	0.0%
PCT	F	0.0%
PHAT	C	0.0%
VRDN	F	0.0%
PRO	F	0.0%
AR	B	0.0%
FC	D	0.0%
CYTK	D	0.0%
INN	F	0.0%
CFLT	C	0.0%
NUVL	D	0.0%
STAA	D	0.0%
CNC	C	0.0%
FSM	B	0.0%
PTON	D	0.0%
BXC	D	0.0%
TNDM	B	0.0%
DUOL	B	0.0%
PRG	B	0.0%
PRCT	B	0.0%
GME	B	0.0%
PFSI	B	0.0%
EVRI	F	0.0%
LEU	C	0.0%
GNK	A	0.0%
DCO	B	0.0%
APPF	B	0.0%
TTWO	D	0.0%
PAR	B	0.0%
VRNS	D	0.0%
TRNS	A	0.0%
MTCH	F	0.0%
SIGA	C	0.0%
LSPD	F	0.0%
ENVX	C	0.0%
MCFT	F	0.0%
TITN	F	0.0%
MTW	F	0.0%
TIGR	D	0.0%
DNA	F	0.0%
NX	D	0.0%
PLUG	F	0.0%
BYND	D	0.0%
EB	F	0.0%
HSII	C	0.0%
NCLH	F	0.0%
ZLAB	F	0.0%
BILI	B	0.0%
NTLA	F	0.0%
REZI	D	0.0%
WIX	D	0.0%
OSCR	A	0.0%
UEC	B	0.0%
SNDX	D	0.0%
FDMT	D	0.0%
VVI	D	0.0%
RNG	C	0.0%
ANF	B	0.0%
PLPC	D	0.0%
ACVA	D	0.0%
PGC	D	0.0%
DOCN	D	0.0%
TUYA	C	0.0%
GDRX	B	0.0%
EXTR	F	0.0%
DFH	F	0.0%
STEM	F	0.0%
WIRE	B	0.0%
GDYN	D	0.0%
VITL	A	0.0%
DMRC	F	0.0%
FRSH	F	0.0%
IAUX	F	0.0%
RUN	D	0.0%
SAM	D	0.0%
BCRX	D	0.0%
CHPT	D	0.0%
OPEN	F	0.0%
CRMT	D	0.0%
CTLP	F	0.0%
ADNT	F	0.0%
CASS	D	0.0%
CIG	B	0.0%
ZI	F	0.0%
COHR	D	0.0%
CERT	D	0.0%
UPWK	F	0.0%
TIGO	B	0.0%
VGR	D	0.0%
CHGX	C	0.0%
ENFN	B	0.0%
KHC	C	0.0%
VMEO	D	0.0%
CYRX	F	0.0%
USLM	A	0.0%
HCP	B	0.0%
BRZE	F	0.0%
INSW	A	0.0%
FROG	D	0.0%
AMPS	F	0.0%
DOCS	F	0.0%
INDI	F	0.0%
ACCD	F	0.0%
ALKT	B	0.0%
FCEL	F	0.0%
KC	C	0.0%
SGU	B	0.0%
LEGH	D	0.0%
SDGR	F	0.0%
IIIN	D	0.0%
ARCT	F	0.0%
FIVN	F	0.0%
KREF	F	0.0%
DDD	F	0.0%
DIN	F	0.0%
SPR	D	0.0%
UPST	F	0.0%
KEP	D	0.0%
CDE	B	0.0%
AUPH	F	0.0%
HUYA	B	0.0%
IBUY	D	0.0%
ASPN	A	0.0%
ESTC	B	0.0%
NSSC	B	0.0%
CYH	B	0.0%
LYFT	C	0.0%
ACLS	D	0.0%
RXRX	F	0.0%
CIFR	C	0.0%
FSLY	F	0.0%
RDFN	D	0.0%
WEAV	F	0.0%
APPS	F	0.0%
BOOT	B	0.0%
RKLB	D	0.0%
KYMR	C	0.0%
SITE	F	0.0%
EQT	B	0.0%
ETSY	F	0.0%
EXPI	C	0.0%
CARS	D	0.0%
VICR	F	0.0%
FLNC	C	0.0%
BJRI	D	0.0%
BLFS	B	0.0%
ARRY	F	0.0%
RLJ	F	0.0%
SMAR	D	0.0%
ODFL	F	0.0%
PIXY	F	0.0%
WSR	C	0.0%
AI	F	0.0%
MEG	B	0.0%
ALNY	D	0.0%

SPGM Underweight 256 Positions Relative to BIV

Symbol	Grade	Weight
KOF	B	-0.03%
RJF	C	-0.03%
CAH	F	-0.03%
BWA	B	-0.03%
BMO	C	-0.03%
ESGR	B	-0.03%
NI	A	-0.02%
INVH	B	-0.02%
CTAS	B	-0.02%
BR	D	-0.02%
CPB	B	-0.02%
UHS	D	-0.02%
XRAY	F	-0.02%
QRVO	F	-0.02%
HIG	C	-0.02%
EFX	D	-0.02%
DAL	A	-0.02%
DOX	D	-0.02%
BC	D	-0.02%
CNO	B	-0.02%
ARCC	A	-0.02%
AAP	D	-0.02%
VRSN	F	-0.02%
ZBH	D	-0.02%
TRMB	D	-0.02%
RL	D	-0.02%
GSK	A	-0.02%
WAB	A	-0.02%
WY	F	-0.02%
MPLX	A	-0.02%
ET	A	-0.02%
NWG	A	-0.02%
VOD	F	-0.02%
WTFC	B	-0.01%
SKT	D	-0.01%
RS	D	-0.01%
PWR	B	-0.01%
REXR	D	-0.01%
SAVE	F	-0.01%
GBDC	B	-0.01%
AXS	A	-0.01%
AVT	A	-0.01%
CMA	B	-0.01%
CE	C	-0.01%
CBT	B	-0.01%
THG	A	-0.01%
UNM	B	-0.01%
NDAQ	D	-0.01%
OGS	C	-0.01%
L	A	-0.01%
KMT	C	-0.01%
KMPR	B	-0.01%
VNO	F	-0.01%
WU	C	-0.01%
TKR	B	-0.01%
WLK	B	-0.01%
PNW	B	-0.01%
SNA	D	-0.01%
RNR	C	-0.01%
SF	A	-0.01%
PSEC	F	-0.01%
DOV	A	-0.01%
AFG	C	-0.01%
WBS	D	-0.01%
LII	C	-0.01%
OCSL	C	-0.01%
MDC	A	-0.01%
MCY	A	-0.01%
PDM	B	-0.01%
KRG	B	-0.01%
EMN	A	-0.01%
FSK	B	-0.01%
LXP	D	-0.01%
OSK	D	-0.01%
MKL	A	-0.01%
OPI	C	-0.01%
BDN	B	-0.01%
AMH	B	-0.01%
WEC	B	-0.01%
WB	C	-0.01%
ZION	B	-0.01%
VRSK	B	-0.01%
WPC	C	-0.01%
R	A	-0.01%
SITC	D	-0.01%
PKG	D	-0.01%
RPM	D	-0.01%
PHM	B	-0.01%
PFG	C	-0.01%
SCS	C	-0.01%
SAFE	F	-0.01%
PPG	D	-0.01%
SON	C	-0.01%
SNX	A	-0.01%
FMC	B	-0.01%
FLS	A	-0.01%
FLO	B	-0.01%
EW	D	-0.01%
BBY	D	-0.01%
AIZ	D	-0.01%
AVB	A	-0.01%
AGR	B	-0.01%
AGO	D	-0.01%
ATO	A	-0.01%
CINF	D	-0.01%
AEL	A	-0.01%
AEE	C	-0.01%
ARW	B	-0.01%
ADC	B	-0.01%
ACGL	A	-0.01%
BKU	B	-0.01%
AAT	B	-0.01%
OGE	A	-0.01%
MCO	C	-0.01%
GPC	B	-0.01%
GP	F	-0.01%
HR	B	-0.01%
HP	F	-0.01%
HIW	B	-0.01%
JD	B	-0.01%
IEX	D	-0.01%
EPR	C	-0.01%
FRT	B	-0.01%
STE	D	-0.01%
WTRG	B	-0.01%
RYN	F	-0.01%
ROK	F	-0.01%
RF	B	-0.01%
SBRA	A	-0.01%
PRE	C	-0.01%
MAS	D	-0.01%
NHI	A	-0.01%
NEU	D	-0.01%
MLM	C	-0.01%
MHK	D	-0.01%
CNHI	D	-0.01%
AYI	C	-0.01%
BRO	C	-0.01%
BNS	D	-0.01%
BKH	B	-0.01%
AAL	C	-0.01%
BERY	D	-0.01%
AMCR	A	-0.01%
CP	D	-0.01%
UDR	B	-0.01%
TSCO	B	-0.01%
SWX	A	-0.01%
SWKS	F	-0.01%
VOYA	B	-0.01%
XYL	A	-0.01%
VMC	C	-0.01%
HUBB	D	-0.01%
HPP	F	-0.01%
KRC	F	-0.01%
FAF	D	-0.01%
EXR	D	-0.01%
DRI	F	-0.01%
DSS	F	-0.01%
NFG	A	-0.01%
OC	B	-0.01%
LEG	F	-0.01%
NVR	D	-0.01%
MAA	B	-0.01%
LNT	B	-0.01%
OMC	B	-0.01%
LAZ	C	-0.01%
NTRS	C	-0.01%
HUN	C	-0.01%
HRB	B	-0.01%
IPG	D	-0.01%
INGR	A	-0.01%
HII	D	-0.01%
HBAN	A	-0.01%
JBL	D	-0.01%
KR	B	-0.01%
DGX	B	-0.01%
ED	A	-0.01%
CUBE	D	-0.01%
FLEX	C	-0.01%
FITB	A	-0.01%
AL	B	-0.01%
CNP	B	-0.01%
CMS	A	-0.01%
AVY	A	-0.01%
WELL	A	-0.01%
TXT	D	-0.01%
TCN	A	-0.01%
SUI	D	-0.01%
VFC	F	-0.01%
RPRX	F	-0.01%
ROP	D	-0.01%
NNN	B	-0.01%
LNC	C	-0.01%
LH	F	-0.01%
LEA	F	-0.01%
KEY	C	-0.01%
HUM	F	-0.01%
GLPI	D	-0.01%
GL	F	-0.01%
JEF	B	-0.01%
HAS	B	-0.01%
H	D	-0.01%
ESS	A	-0.01%
ES	B	-0.01%
FNF	B	-0.01%
CSL	A	-0.01%
EVRG	B	-0.01%
ETR	A	-0.01%
AZO	D	-0.01%
CNA	B	-0.01%
AWK	B	-0.01%
BRX	C	-0.01%
BG	B	-0.01%
CBOE	C	-0.01%
AN	B	-0.01%
VTR	B	-0.01%
SWK	F	-0.01%
STLD	D	-0.01%
RGA	A	-0.01%
AER	A	-0.01%
APH	A	-0.01%
CCI	D	-0.01%
LEN	D	-0.01%
MSI	A	-0.01%
ICE	C	-0.01%
EQNR	C	-0.01%
PAA	B	-0.01%
OHI	B	-0.01%
O	B	-0.01%
HRL	B	-0.01%
TDY	D	-0.01%
WRK	A	-0.01%
WHR	F	-0.01%
RSG	C	-0.01%
FANG	B	-0.01%
BXP	F	-0.01%
XEL	C	-0.01%
SRE	B	-0.01%
EQH	A	-0.01%
DTE	A	-0.01%
STZ	D	-0.01%
EPD	B	-0.01%
DG	D	-0.01%
DB	B	-0.01%
OKE	B	-0.01%
LHX	A	-0.01%
KDP	B	-0.01%
D	B	-0.01%
MAR	D	-0.01%
LUV	D	-0.01%
CPT	B	-0.01%
TFC	B	-0.01%
ARE	D	-0.01%
AIG	A	-0.01%
UAL	B	-0.01%
HSBC	A	-0.01%