SPGM vs. BTAL ETF Comparison

Comparison of SPDR Portfolio MSCI Global Stock Market ETF (SPGM) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

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

$62.00

Average Daily Volume

50,792

Number of Holdings ^*

954

* may have additional holdings in another (foreign) market

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.40

Average Daily Volume

295,040

Number of Holdings ^*

388

* may have additional holdings in another (foreign) market

Performance

Period	SPGM	BTAL
30 Days	3.16%	0.47%
60 Days	4.93%	2.73%
90 Days	5.37%	7.57%
12 Months	22.28%	2.73%

178 Overlapping Holdings

Symbol	Grade	Weight in SPGM	Weight in BTAL	Overlap
AA	B	0.0%	-0.38%	-0.38%
ABBV	C	0.37%	0.45%	0.37%
ABBV	C	0.19%	0.45%	0.19%
ABNB	B	0.05%	-0.43%	-0.43%
AES	D	0.01%	-0.38%	-0.38%
AFRM	F	0.01%	-0.43%	-0.43%
AGL	D	0.0%	0.45%	0.0%
AGNC	A	0.01%	-0.42%	-0.42%
ALB	F	0.01%	-0.32%	-0.32%
ALGN	D	0.01%	-0.4%	-0.4%
ALL	D	0.14%	0.41%	0.14%
ALLY	B	0.02%	-0.44%	-0.44%
AMGN	B	0.24%	0.42%	0.24%
AON	C	0.06%	0.45%	0.06%
AR	D	0.0%	-0.4%	-0.4%
ARWR	C	0.01%	-0.45%	-0.45%
AVGO	B	0.97%	-0.49%	-0.49%
AXON	C	0.03%	-0.43%	-0.43%
BLDR	F	0.01%	-0.35%	-0.35%
BLK	B	0.07%	-0.4%	-0.4%
BMY	F	0.1%	0.42%	0.1%
BRZE	D	0.0%	-0.39%	-0.39%
BX	C	0.04%	-0.43%	-0.43%
CAR	F	0.0%	-0.4%	-0.4%
CARR	D	0.05%	-0.42%	-0.42%
CB	D	0.25%	0.4%	0.25%
CC	F	0.0%	-0.36%	-0.36%
CCL	C	0.01%	-0.5%	-0.5%
CEG	C	0.12%	-0.38%	-0.38%
CELH	F	0.01%	-0.29%	-0.29%
CF	F	0.02%	0.39%	0.02%
CFG	B	0.02%	-0.42%	-0.42%
CFLT	C	0.0%	0.41%	0.0%
CHD	C	0.07%	0.41%	0.07%
CHRW	C	0.07%	0.42%	0.07%
CHX	C	0.02%	-0.42%	-0.42%
CI	D	0.08%	0.41%	0.08%
CME	D	0.08%	0.38%	0.08%
CMG	D	0.11%	0.32%	0.11%
CNC	D	0.0%	0.39%	0.0%
COHR	A	0.0%	-0.51%	-0.51%
COIN	D	0.05%	-0.39%	-0.39%
COTY	D	0.0%	-0.39%	-0.39%
CSCO	D	0.3%	0.42%	0.3%
CSGP	F	0.0%	-0.37%	-0.37%
CSX	C	0.19%	0.41%	0.19%
CTSH	C	0.12%	0.42%	0.12%
CTVA	D	0.07%	0.4%	0.07%
CVNA	C	0.02%	-0.53%	-0.53%
CZR	C	0.01%	-0.5%	-0.5%
DASH	D	0.02%	-0.42%	-0.42%
DD	B	0.08%	0.4%	0.08%
DKNG	F	0.02%	-0.43%	-0.43%
DOCS	C	0.0%	-0.41%	-0.41%
DUK	C	0.09%	0.41%	0.09%
DUOL	F	0.0%	-0.45%	-0.45%
EL	F	0.08%	-0.37%	-0.37%
ELAN	F	0.01%	-0.35%	-0.35%
ELF	C	0.01%	-0.47%	-0.47%
ELV	C	0.23%	0.44%	0.23%
ENPH	D	0.01%	-0.34%	-0.34%
EQR	A	0.06%	0.43%	0.06%
EQT	D	0.0%	-0.38%	-0.38%
EXAS	F	0.01%	-0.4%	-0.4%
EXPE	C	0.01%	-0.47%	-0.47%
FCX	C	0.05%	-0.38%	-0.38%
FOUR	B	0.01%	-0.46%	-0.46%
FOXA	A	0.04%	0.42%	0.04%
FTNT	D	0.02%	0.42%	0.02%
GD	D	0.23%	0.42%	0.23%
GH	C	0.0%	-0.47%	-0.47%
GILD	C	0.15%	0.44%	0.15%
GIS	D	0.05%	0.4%	0.05%
GLW	A	0.13%	0.45%	0.13%
GNRC	C	0.01%	-0.38%	-0.38%
GXO	F	0.0%	-0.43%	-0.43%
HCP	A	0.0%	-0.42%	-0.42%
HON	B	0.21%	0.44%	0.21%
HPQ	B	0.11%	0.43%	0.11%
IBM	B	0.24%	0.42%	0.24%
IDXX	D	0.01%	-0.4%	-0.4%
ILMN	D	0.01%	-0.42%	-0.42%
INTC	C	0.18%	-0.41%	-0.41%
JNJ	F	0.39%	0.42%	0.39%
JNPR	B	0.06%	0.43%	0.06%
KHC	D	0.0%	0.38%	0.0%
KMI	A	0.03%	0.43%	0.03%
LLY	A	0.87%	0.46%	0.46%
LMT	C	0.23%	0.43%	0.23%
LSCC	D	0.0%	0.3%	0.0%
LULU	F	0.02%	0.44%	0.02%
LYFT	F	0.0%	-0.36%	-0.36%
MCD	F	0.2%	0.42%	0.2%
MCK	B	0.25%	0.42%	0.25%
MDB	D	0.02%	-0.3%	-0.3%
MMC	A	0.17%	0.43%	0.17%
MOS	F	0.02%	0.39%	0.02%
MPC	D	0.19%	0.41%	0.19%
MPWR	A	0.03%	-0.41%	-0.41%
MRK	D	0.43%	0.42%	0.42%
MRNA	D	0.04%	-0.33%	-0.33%
MRVL	C	0.04%	-0.37%	-0.37%
MSFT	A	3.87%	0.42%	0.42%
MU	C	0.1%	-0.42%	-0.42%
NCLH	B	0.0%	-0.47%	-0.47%
NEM	A	0.04%	0.41%	0.04%
NET	B	0.03%	-0.47%	-0.47%
NOC	D	0.15%	0.4%	0.15%
NTAP	A	0.11%	0.45%	0.11%
NTLA	F	0.0%	-0.43%	-0.43%
NTRA	C	0.0%	-0.43%	-0.43%
NVCR	D	0.0%	-0.33%	-0.33%
NVDA	B	3.73%	-0.51%	-0.51%
NVT	C	0.0%	-0.41%	-0.41%
ON	D	0.01%	0.38%	0.01%
OPEN	F	0.0%	-0.36%	-0.36%
ORLY	C	0.19%	0.43%	0.19%
OXY	D	0.06%	0.42%	0.06%
PATH	D	0.0%	-0.28%	-0.28%
PENN	C	0.0%	-0.53%	-0.53%
PFE	C	0.2%	0.41%	0.2%
PGR	B	0.15%	0.43%	0.15%
PINS	B	0.02%	-0.45%	-0.45%
PLD	C	0.23%	-0.44%	-0.44%
PLTR	A	0.05%	-0.5%	-0.5%
PNR	D	0.0%	-0.4%	-0.4%
PTON	D	0.0%	-0.48%	-0.48%
PYPL	D	0.11%	-0.39%	-0.39%
RBLX	B	0.01%	-0.48%	-0.48%
RGEN	F	0.0%	-0.34%	-0.34%
RIG	F	0.0%	-0.37%	-0.37%
RIVN	C	0.01%	-0.58%	-0.58%
RNG	D	0.0%	-0.34%	-0.34%
ROKU	C	0.01%	-0.44%	-0.44%
RTX	D	0.29%	0.39%	0.29%
RUN	D	0.0%	-0.41%	-0.41%
SAM	C	0.0%	-0.49%	-0.49%
SEDG	F	0.0%	-0.21%	-0.21%
SHLS	F	0.0%	-0.34%	-0.34%
SHW	C	0.03%	-0.43%	-0.43%
SITE	F	0.0%	-0.34%	-0.34%
SLB	D	0.08%	-0.42%	-0.42%
SMCI	B	0.05%	-0.46%	-0.46%
SNAP	B	0.02%	-0.46%	-0.46%
SO	B	0.07%	0.42%	0.07%
SQ	F	0.03%	-0.4%	-0.4%
SQ	F	0.01%	-0.4%	-0.4%
SRPT	C	0.01%	0.58%	0.01%
T	B	0.18%	0.45%	0.18%
TDOC	F	0.0%	-0.38%	-0.38%
TGT	C	0.12%	-0.42%	-0.42%
THO	D	0.0%	-0.41%	-0.41%
TJX	A	0.34%	0.45%	0.34%
TMUS	B	0.05%	0.44%	0.05%
TOST	C	0.01%	-0.43%	-0.43%
TREX	F	0.01%	-0.36%	-0.36%
TRV	D	0.17%	0.4%	0.17%
TSLA	B	0.8%	-0.46%	-0.46%
TTD	A	0.05%	-0.43%	-0.43%
TWLO	D	0.01%	-0.4%	-0.4%
TXG	F	0.0%	-0.37%	-0.37%
U	F	0.01%	-0.37%	-0.37%
UBER	B	0.13%	-0.47%	-0.47%
UNH	D	0.58%	0.4%	0.4%
URI	D	0.02%	-0.38%	-0.38%
USB	D	0.1%	-0.42%	-0.42%
VEEV	F	0.01%	-0.38%	-0.38%
VZ	B	0.14%	0.43%	0.14%
W	D	0.01%	-0.37%	-0.37%
WBA	F	0.02%	-0.33%	-0.33%
WM	B	0.22%	0.44%	0.22%
WOLF	F	0.0%	-0.36%	-0.36%
XOM	D	0.68%	0.41%	0.41%
XPO	D	0.01%	-0.4%	-0.4%
YUM	D	0.11%	0.41%	0.11%
Z	C	0.01%	-0.5%	-0.5%
ZI	F	0.0%	-0.41%	-0.41%
ZS	B	0.02%	-0.48%	-0.48%

SPGM Overweight 776 Positions Relative to BTAL

Symbol	Grade	Weight
AAPL	A	3.89%
AMZN	A	2.16%
META	B	1.39%
GOOG	A	1.27%
GOOGL	A	1.24%
TSM	B	1.01%
JPM	B	0.84%
BRK.A	D	0.65%
V	D	0.63%
COST	A	0.6%
PG	B	0.49%
BAC	A	0.48%
HD	B	0.48%
CRM	D	0.41%
TMO	D	0.41%
ADBE	B	0.4%
TXN	B	0.4%
MA	D	0.39%
AMAT	A	0.39%
INTU	B	0.38%
ORCL	A	0.37%
WFC	D	0.37%
WMT	A	0.35%
QCOM	B	0.35%
CVX	D	0.35%
ABT	D	0.33%
NFLX	B	0.32%
LIN	C	0.32%
TM	D	0.32%
DHR	D	0.31%
KO	B	0.31%
AXP	C	0.31%
GS	B	0.31%
AMD	B	0.29%
PEP	D	0.28%
DIS	F	0.27%
CAT	C	0.27%
UNP	D	0.26%
C	A	0.26%
MS	B	0.25%
ACN	D	0.25%
BKNG	A	0.25%
LOW	D	0.25%
NVS	A	0.24%
NEE	D	0.24%
AFL	B	0.22%
ETN	C	0.22%
SPGI	A	0.22%
A	D	0.21%
MDT	D	0.21%
COP	D	0.2%
PSA	B	0.2%
SONY	C	0.2%
CMI	D	0.2%
ROST	B	0.19%
EMR	C	0.19%
ADI	B	0.19%
NKE	F	0.19%
FDX	B	0.19%
ADP	D	0.19%
MET	D	0.18%
SYK	C	0.18%
SBUX	F	0.18%
AMT	B	0.17%
CMCSA	F	0.17%
MUFG	A	0.17%
TEL	B	0.17%
BABA	F	0.17%
SCHW	D	0.17%
BDX	F	0.17%
PM	A	0.17%
IBN	A	0.17%
DE	F	0.17%
BK	B	0.16%
EOG	D	0.16%
DFS	B	0.16%
TT	B	0.16%
UL	A	0.16%
AEP	D	0.15%
CNI	D	0.15%
INFY	B	0.15%
JCI	C	0.15%
PRU	B	0.15%
CL	B	0.14%
GE	C	0.14%
ECL	A	0.14%
CVS	F	0.14%
NSC	D	0.14%
SPG	C	0.13%
PEG	A	0.13%
HES	D	0.13%
NOW	C	0.13%
HSY	F	0.13%
REGN	B	0.13%
BA	C	0.13%
BSX	B	0.13%
RDY	A	0.13%
PH	C	0.13%
VLO	D	0.13%
PNC	B	0.13%
KMB	B	0.12%
TD	F	0.12%
COF	D	0.12%
IR	C	0.12%
SYY	D	0.12%
ITW	D	0.12%
EIX	C	0.11%
FAST	D	0.11%
KEYS	D	0.11%
UPS	F	0.11%
ZTS	C	0.1%
LRCX	A	0.1%
AZN	C	0.1%
MTB	C	0.1%
PDD	D	0.1%
ADM	C	0.1%
BIIB	C	0.1%
PANW	B	0.1%
CLX	D	0.1%
MKC	C	0.1%
CRWD	B	0.1%
MELI	B	0.09%
F	B	0.09%
ROIC	C	0.09%
EBAY	C	0.09%
SHOP	C	0.09%
ISRG	A	0.09%
VRTX	A	0.08%
VALE	F	0.08%
MO	B	0.08%
UMH	A	0.08%
GM	C	0.08%
LYB	D	0.08%
WDC	B	0.08%
CHTR	C	0.08%
CHT	D	0.08%
MMM	B	0.08%
SMFG	A	0.08%
FE	C	0.07%
WMB	B	0.07%
DLTR	F	0.07%
APD	D	0.07%
ANET	A	0.07%
STX	B	0.07%
PPL	D	0.07%
HDB	C	0.07%
HPE	C	0.07%
STLA	F	0.07%
DOW	D	0.07%
SJM	D	0.07%
UMC	A	0.07%
MRO	C	0.07%
TSN	D	0.07%
DEO	F	0.07%
VGR	C	0.06%
E	D	0.06%
MDLZ	D	0.06%
HAL	F	0.06%
BCS	A	0.06%
TCOM	C	0.06%
EXC	F	0.06%
PSX	D	0.06%
DEA	B	0.06%
KLAC	A	0.06%
FTV	D	0.06%
NXRT	C	0.06%
MFG	B	0.06%
WIT	A	0.06%
STT	C	0.06%
PKX	D	0.06%
MOD	B	0.05%
DOC	B	0.05%
LW	F	0.05%
CAG	D	0.05%
K	D	0.05%
ITUB	D	0.05%
NMR	C	0.05%
SNPS	B	0.05%
LYG	A	0.05%
VRT	C	0.05%
BEN	F	0.05%
BAX	F	0.05%
LVS	F	0.04%
GEV	C	0.04%
KB	B	0.04%
EQIX	C	0.04%
SNOW	D	0.04%
TMDX	B	0.04%
OTIS	B	0.04%
VLTO	D	0.04%
GOOD	B	0.04%
SYF	B	0.04%
CHCT	D	0.03%
FTI	B	0.03%
DXCM	F	0.03%
DELL	B	0.03%
AXNX	B	0.03%
YUMC	F	0.03%
HIMS	C	0.03%
LNTH	C	0.03%
BBD	D	0.03%
KVUE	F	0.03%
DDOG	B	0.03%
LNW	B	0.03%
SE	B	0.03%
BIDU	F	0.03%
BRSP	C	0.03%
LDOS	B	0.03%
ALLE	D	0.03%
HMC	D	0.03%
DX	D	0.03%
PBR	C	0.03%
TPR	B	0.03%
PBF	F	0.02%
OII	B	0.02%
TAL	F	0.02%
AZEK	D	0.02%
MSTR	D	0.02%
MTDR	D	0.02%
AIV	B	0.02%
GGB	F	0.02%
NUE	F	0.02%
QTWO	B	0.02%
WBD	F	0.02%
DYN	C	0.02%
DVN	D	0.02%
ABEV	F	0.02%
KOS	F	0.02%
HOV	D	0.02%
APP	B	0.02%
FICO	B	0.02%
PARA	D	0.02%
CDNS	B	0.02%
HUBS	C	0.02%
BABA	F	0.02%
FSLR	C	0.02%
AHH	B	0.02%
TAC	F	0.02%
LI	F	0.02%
IIPR	B	0.02%
GOLD	B	0.02%
GEHC	D	0.02%
TTGT	B	0.02%
WDAY	D	0.02%
TBBK	B	0.02%
WTTR	C	0.02%
MT	D	0.02%
TEAM	C	0.02%
ITCI	B	0.02%
SHG	B	0.02%
BKR	C	0.02%
IFF	B	0.02%
HCA	C	0.02%
RCL	A	0.02%
WRLD	D	0.01%
BOOT	B	0.01%
BLFS	C	0.01%
CARS	C	0.01%
DXC	C	0.01%
RAMP	D	0.01%
SMAR	B	0.01%
BE	D	0.01%
NSSC	A	0.01%
RKLB	C	0.01%
WSR	B	0.01%
FBK	B	0.01%
BCRX	B	0.01%
BASE	D	0.01%
SLP	F	0.01%
ITRI	C	0.01%
RVLV	F	0.01%
BTU	C	0.01%
CCO	C	0.01%
SQM	D	0.01%
IQ	F	0.01%
PCH	F	0.01%
ACLS	B	0.01%
BGNE	F	0.01%
LASR	D	0.01%
PNTG	B	0.01%
AI	B	0.01%
PACK	D	0.01%
GTLB	D	0.01%
LOB	F	0.01%
KOP	F	0.01%
VITL	B	0.01%
ASPN	D	0.01%
IMVT	D	0.01%
CMPR	B	0.01%
DLR	A	0.01%
ALEX	B	0.01%
LIND	B	0.01%
OGN	D	0.01%
GME	C	0.01%
BZ	D	0.01%
RIOT	F	0.01%
DQ	F	0.01%
OMI	F	0.01%
CLNE	F	0.01%
M	C	0.01%
JKS	F	0.01%
PHI	C	0.01%
PTCT	D	0.01%
PEN	D	0.01%
AMR	D	0.01%
MITK	F	0.01%
PAY	D	0.01%
CASH	B	0.01%
JBI	F	0.01%
ZTO	F	0.01%
LBRDK	C	0.01%
MCRI	C	0.01%
YETI	F	0.01%
NOV	D	0.01%
RCUS	F	0.01%
ACMR	D	0.01%
CLBT	B	0.01%
RLX	F	0.01%
AAON	B	0.01%
ULH	D	0.01%
BZH	F	0.01%
INTA	D	0.01%
FUTU	D	0.01%
BLBD	C	0.01%
ENVX	B	0.01%
CPRX	C	0.01%
ZETA	C	0.01%
HASI	D	0.01%
OSW	B	0.01%
COLL	D	0.01%
SOFI	F	0.01%
KD	C	0.01%
GSAT	D	0.01%
COMP	C	0.01%
DOCU	C	0.01%
RNA	C	0.01%
IDYA	C	0.01%
EFC	A	0.01%
XPEV	F	0.01%
MGNI	B	0.01%
PRTA	F	0.01%
TGI	B	0.01%
PTEN	F	0.01%
ADSK	B	0.01%
PHR	F	0.01%
ALNY	A	0.01%
RDNT	B	0.01%
VSTO	B	0.01%
SEMR	C	0.01%
POWL	D	0.01%
MNDY	B	0.01%
CCS	D	0.01%
AKRO	D	0.01%
INMD	F	0.01%
ERJ	D	0.01%
NXPI	B	0.01%
GMS	D	0.01%
MBIN	C	0.01%
MHO	D	0.01%
CLDX	D	0.01%
MDGL	B	0.01%
BBWI	F	0.01%
AKO.A	D	0.01%
CLDT	D	0.01%
CENX	B	0.01%
BHF	F	0.01%
HSTM	B	0.01%
MRC	C	0.01%
FIS	B	0.01%
THR	D	0.01%
EPAM	D	0.01%
TGTX	B	0.01%
BEKE	F	0.01%
CROX	C	0.01%
INSP	F	0.01%
ENS	C	0.01%
SID	D	0.01%
SOLV	F	0.01%
RYTM	B	0.01%
MARA	C	0.01%
TWST	B	0.01%
VTRS	D	0.01%
GRBK	C	0.01%
DVAX	F	0.01%
VERX	A	0.01%
CNH	F	0.01%
GERN	B	0.01%
ORA	C	0.01%
MATX	C	0.01%
NIO	F	0.01%
FLNG	D	0.01%
EPRT	A	0.01%
OKTA	C	0.01%
CLSK	D	0.01%
KEX	B	0.01%
ABR	B	0.01%
NWSA	B	0.01%
PLMR	C	0.01%
BBIO	D	0.01%
VNT	D	0.01%
APA	F	0.01%
VIPS	F	0.01%
TME	B	0.01%
SKY	D	0.01%
ADMA	B	0.01%
GMRE	B	0.01%
IMXI	F	0.01%
ACEL	D	0.01%
PLAY	F	0.01%
TEVA	C	0.01%
KSS	F	0.01%
AGYS	A	0.01%
ZM	F	0.01%
SRG	D	0.0%
KRYS	A	0.0%
XPEV	F	0.0%
LI	F	0.0%
SMWB	D	0.0%
ZNTL	F	0.0%
ALEC	D	0.0%
MP	D	0.0%
JOBY	D	0.0%
JAMF	D	0.0%
ATUS	F	0.0%
UNIT	D	0.0%
OEC	F	0.0%
TH	D	0.0%
OLMA	C	0.0%
SCLX	C	0.0%
CRCT	F	0.0%
RGNX	F	0.0%
REPX	C	0.0%
DADA	F	0.0%
CRNC	F	0.0%
FLWS	B	0.0%
BMBL	F	0.0%
MORF	B	0.0%
TPB	B	0.0%
PKST	F	0.0%
CGEM	D	0.0%
BOC	F	0.0%
ASTH	C	0.0%
SAVA	F	0.0%
FNA	F	0.0%
MLCO	F	0.0%
LGIH	F	0.0%
DAN	F	0.0%
EDIT	F	0.0%
DENN	F	0.0%
CABA	F	0.0%
MCB	D	0.0%
MLNK	B	0.0%
ZEUS	F	0.0%
PRVA	D	0.0%
SNCY	C	0.0%
CEVA	D	0.0%
GDS	B	0.0%
OLO	F	0.0%
FSBC	C	0.0%
KE	F	0.0%
OVV	D	0.0%
LUMN	D	0.0%
SHEN	D	0.0%
GDOT	F	0.0%
FLGT	F	0.0%
TELL	D	0.0%
FIGS	D	0.0%
PFC	C	0.0%
MRVI	D	0.0%
AMRC	F	0.0%
MGPI	F	0.0%
VERV	D	0.0%
ORLA	C	0.0%
MAX	F	0.0%
MNSO	F	0.0%
KRUS	F	0.0%
LAW	F	0.0%
CTKB	D	0.0%
EYE	F	0.0%
TMCI	D	0.0%
BEAM	C	0.0%
QFIN	D	0.0%
RENB	D	0.0%
HOG	F	0.0%
VIR	F	0.0%
CNDT	D	0.0%
APTV	F	0.0%
TRUP	B	0.0%
PDFS	B	0.0%
SGRY	F	0.0%
MAT	F	0.0%
ELVN	B	0.0%
LPRO	F	0.0%
MXL	B	0.0%
APPN	D	0.0%
ETNB	F	0.0%
SANA	F	0.0%
SHC	C	0.0%
ZUO	D	0.0%
DH	F	0.0%
SOUN	D	0.0%
HAE	C	0.0%
IBP	C	0.0%
PACB	F	0.0%
NCNO	C	0.0%
HIBB	A	0.0%
SWBI	F	0.0%
BVN	D	0.0%
MDXG	D	0.0%
CECO	B	0.0%
VNET	C	0.0%
NMIH	B	0.0%
OSPN	B	0.0%
NABL	C	0.0%
PARR	F	0.0%
LAND	B	0.0%
DGII	D	0.0%
GRPN	C	0.0%
IRTC	D	0.0%
XPOF	B	0.0%
XHR	D	0.0%
HURN	C	0.0%
YOU	C	0.0%
GOGO	D	0.0%
LMND	C	0.0%
ALTG	D	0.0%
ICHR	B	0.0%
CEIX	C	0.0%
CALX	C	0.0%
CRSR	F	0.0%
RVNC	F	0.0%
BROS	A	0.0%
CUBI	B	0.0%
FUBO	F	0.0%
ALHC	B	0.0%
DNOW	D	0.0%
VCYT	C	0.0%
IDT	C	0.0%
QTRX	F	0.0%
TLRY	D	0.0%
THRM	F	0.0%
VSCO	D	0.0%
ATEN	D	0.0%
AMC	D	0.0%
SABR	D	0.0%
ULCC	F	0.0%
SVC	D	0.0%
CYRX	F	0.0%
APLS	F	0.0%
LWLG	F	0.0%
OSUR	F	0.0%
UVV	F	0.0%
ADUS	A	0.0%
ESTA	D	0.0%
SM	D	0.0%
PDFS	B	0.0%
S	D	0.0%
GKOS	A	0.0%
HAYW	D	0.0%
CXM	D	0.0%
ENIC	C	0.0%
LILAK	C	0.0%
ENVA	B	0.0%
SITM	A	0.0%
NARI	C	0.0%
HRI	F	0.0%
HAYN	C	0.0%
FVRR	D	0.0%
NOVA	C	0.0%
DHI	D	0.0%
ACCD	F	0.0%
ATRO	B	0.0%
AOSL	B	0.0%
SIBN	D	0.0%
RXST	D	0.0%
AMRK	C	0.0%
ATEC	D	0.0%
DBI	F	0.0%
TASK	C	0.0%
HL	C	0.0%
CHEF	A	0.0%
CCB	C	0.0%
IAS	C	0.0%
EMBC	F	0.0%
NVRI	B	0.0%
PCVX	B	0.0%
MQ	D	0.0%
PUBM	C	0.0%
GLBE	B	0.0%
LAZR	F	0.0%
ARDX	F	0.0%
YY	D	0.0%
MNTK	C	0.0%
PRO	F	0.0%
NEOG	C	0.0%
ATHM	C	0.0%
TITN	F	0.0%
AVNS	D	0.0%
LCID	C	0.0%
WGO	F	0.0%
IAG	C	0.0%
CLF	D	0.0%
HTHT	F	0.0%
VZIO	B	0.0%
ARLO	B	0.0%
NNDM	D	0.0%
RRC	C	0.0%
BXC	D	0.0%
RVMD	C	0.0%
RKT	D	0.0%
AX	B	0.0%
NEXT	C	0.0%
YEXT	D	0.0%
PL	F	0.0%
XPRO	C	0.0%
UCTT	A	0.0%
FIZZ	B	0.0%
GRAB	C	0.0%
CCBG	D	0.0%
CYTK	C	0.0%
BRBR	B	0.0%
VRDN	F	0.0%
DFH	D	0.0%
SQSP	A	0.0%
IIIV	B	0.0%
PODD	C	0.0%
FRSH	D	0.0%
FSLY	F	0.0%
QNST	C	0.0%
ACHR	C	0.0%
SPWR	F	0.0%
STAA	C	0.0%
CSTL	F	0.0%
INN	D	0.0%
NX	F	0.0%
MOMO	C	0.0%
DHC	B	0.0%
KIM	B	0.0%
FC	C	0.0%
MTW	F	0.0%
SIGA	C	0.0%
AXSM	B	0.0%
UWMC	D	0.0%
FCEL	F	0.0%
PRG	D	0.0%
METC	D	0.0%
UEC	D	0.0%
EVRI	C	0.0%
PCT	C	0.0%
MTCH	D	0.0%
EB	F	0.0%
PHAT	C	0.0%
FIVN	D	0.0%
BURL	B	0.0%
LEU	F	0.0%
FDMT	D	0.0%
NUVL	C	0.0%
ADNT	F	0.0%
PCG	D	0.0%
TNDM	C	0.0%
CERT	D	0.0%
WRBY	C	0.0%
GNK	D	0.0%
DIN	F	0.0%
LSPD	D	0.0%
BIGC	C	0.0%
APPF	B	0.0%
PFSI	B	0.0%
PAR	B	0.0%
TTWO	C	0.0%
SNDX	C	0.0%
VRNS	B	0.0%
KC	F	0.0%
REZI	D	0.0%
DCO	B	0.0%
VVI	C	0.0%
SDGR	F	0.0%
ARCT	F	0.0%
BYND	F	0.0%
OSCR	D	0.0%
TUYA	F	0.0%
VGR	C	0.0%
PGC	F	0.0%
HST	D	0.0%
PLUG	F	0.0%
PTGX	B	0.0%
PETQ	B	0.0%
FROG	B	0.0%
PLPC	F	0.0%
TRNS	C	0.0%
ACVA	D	0.0%
ENFN	D	0.0%
CASS	D	0.0%
HSII	D	0.0%
IBUY	D	0.0%
DDD	F	0.0%
PRCT	C	0.0%
ZLAB	F	0.0%
UPWK	D	0.0%
DOCN	D	0.0%
WEAV	D	0.0%
ARVN	D	0.0%
CIG	C	0.0%
KLG	F	0.0%
KEP	D	0.0%
ARRY	F	0.0%
IIIN	F	0.0%
CRMT	D	0.0%
GDRX	B	0.0%
KREF	D	0.0%
GDYN	C	0.0%
CHGX	A	0.0%
ETSY	F	0.0%
HEES	F	0.0%
RXRX	F	0.0%
VMEO	F	0.0%
KYMR	D	0.0%
EXTR	C	0.0%
RLJ	F	0.0%
BILI	B	0.0%
TIGR	C	0.0%
AMG	D	0.0%
UPST	F	0.0%
CTLP	C	0.0%
INDI	D	0.0%
SPR	B	0.0%
FLYW	F	0.0%
AMPS	D	0.0%
INSW	C	0.0%
LEGH	C	0.0%
FLNC	F	0.0%
CYH	D	0.0%
WIX	C	0.0%
HUYA	D	0.0%
GPN	F	0.0%
EVH	F	0.0%
DRH	D	0.0%
REG	C	0.0%
NVAX	C	0.0%
QS	F	0.0%
NEO	D	0.0%
AUPH	C	0.0%
MEG	D	0.0%
USLM	B	0.0%
VICR	F	0.0%
SRRK	F	0.0%
EA	B	0.0%
VPG	F	0.0%
CHPT	D	0.0%
RCKT	F	0.0%
TIGO	B	0.0%
DT	D	0.0%
ODFL	C	0.0%
PIXY	F	0.0%
SPT	C	0.0%
ESTC	B	0.0%
EXPI	D	0.0%
AUR	C	0.0%
ROCK	F	0.0%
ASAN	D	0.0%
CIB	C	0.0%
RDFN	D	0.0%
DNA	F	0.0%
PLAB	D	0.0%
JELD	D	0.0%
RPAY	D	0.0%
ALKT	B	0.0%
CDE	A	0.0%
ANF	B	0.0%
VKTX	D	0.0%
SONO	D	0.0%
BJRI	B	0.0%
CIFR	B	0.0%
ATKR	F	0.0%
DMRC	B	0.0%
BILL	F	0.0%

SPGM Underweight 212 Positions Relative to BTAL

Symbol	Grade	Weight
TPL	B	-0.53%
OLLI	A	-0.51%
GWRE	A	-0.48%
MKL	D	-0.48%
LNG	B	-0.46%
ROP	B	-0.46%
BMRN	C	-0.46%
VFC	C	-0.46%
HUM	C	-0.45%
BWXT	B	-0.45%
OHI	A	-0.45%
HRB	C	-0.45%
MUSA	C	-0.44%
VRSN	C	-0.44%
SBRA	A	-0.44%
RSG	A	-0.44%
ROL	B	-0.44%
WH	C	-0.44%
HQY	C	-0.44%
HLT	B	-0.44%
FOXF	D	-0.44%
ELS	C	-0.44%
HEI	B	-0.44%
RYAN	C	-0.44%
AVB	B	-0.44%
SBAC	D	-0.44%
VRSK	A	-0.44%
CACI	B	-0.44%
CLH	B	-0.44%
SFM	B	-0.43%
FCN	D	-0.43%
ADC	B	-0.43%
WTW	C	-0.43%
ULTA	D	-0.43%
CHH	C	-0.43%
MSI	A	-0.43%
AXS	C	-0.42%
EDR	A	-0.42%
VICI	D	-0.42%
CINF	C	-0.42%
NEU	D	-0.42%
O	C	-0.42%
BG	B	-0.42%
CPB	B	-0.42%
CW	C	-0.42%
DRI	D	-0.42%
FFIV	C	-0.42%
HIG	C	-0.42%
GLPI	B	-0.42%
ALKS	C	-0.42%
MSA	C	-0.42%
WELL	B	-0.42%
LNT	B	-0.42%
L	D	-0.42%
BRO	B	-0.42%
WEN	F	-0.41%
DBX	F	-0.41%
TXT	D	-0.41%
ORI	D	-0.41%
DGX	C	-0.41%
FANG	B	-0.41%
ERIE	C	-0.41%
GPC	D	-0.41%
SIGI	F	-0.41%
AME	D	-0.41%
DOX	D	-0.41%
PAG	D	-0.41%
DECK	C	-0.41%
WEC	D	-0.41%
MDU	C	-0.41%
TXRH	B	-0.41%
WPC	D	-0.41%
AIZ	D	-0.41%
PNW	C	-0.41%
PNM	D	-0.41%
BJ	B	-0.41%
PKG	C	-0.41%
AMCR	D	-0.41%
CDW	D	-0.41%
XEL	D	-0.41%
ACGL	C	-0.41%
RNR	D	-0.41%
DLB	D	-0.41%
AEE	D	-0.41%
J	D	-0.41%
X	C	-0.41%
WRB	B	-0.41%
TDY	D	-0.4%
LPLA	C	-0.4%
SNA	D	-0.4%
UNM	D	-0.4%
CACC	B	-0.4%
MUR	D	-0.4%
RGA	B	-0.4%
KBR	D	-0.4%
CBOE	D	-0.4%
DCI	D	-0.4%
FLS	D	-0.4%
RLI	D	-0.4%
MOH	F	-0.4%
FLO	D	-0.4%
CMS	D	-0.4%
AVT	C	-0.39%
ASGN	D	-0.39%
KR	C	-0.39%
EG	D	-0.39%
TNET	F	-0.39%
IBKR	B	-0.39%
CHE	D	-0.39%
TGNA	D	-0.39%
THG	C	-0.39%
PCAR	D	-0.39%
ED	D	-0.39%
MSM	F	-0.38%
SLGN	D	-0.38%
TSCO	D	-0.38%
MAN	D	-0.38%
SNX	D	-0.37%
ST	C	-0.37%
DG	D	-0.37%
FMC	D	-0.37%
SAIC	F	-0.36%
WTM	D	-0.36%
PAYC	F	-0.35%
FIVE	F	-0.34%
AZO	C	-0.3%
FYBR	C	--0.35%
VST	C	--0.35%
IOT	C	--0.36%
OZK	D	--0.36%
WCC	D	--0.36%
FND	F	--0.37%
DAR	F	--0.37%
OWL	D	--0.38%
ETRN	D	--0.38%
LEN	D	--0.38%
CE	F	--0.38%
POWI	D	--0.38%
UGI	D	--0.39%
RMD	C	--0.39%
IQV	D	--0.39%
CG	C	--0.39%
RH	D	--0.39%
BLD	C	--0.39%
VLY	F	--0.39%
LPX	D	--0.39%
CHK	D	--0.39%
DAY	F	--0.39%
ALIT	F	--0.39%
ITT	D	--0.4%
CWEN	D	--0.4%
KEY	C	--0.4%
CRL	F	--0.4%
CMA	C	--0.4%
TOL	D	--0.4%
SEE	D	--0.4%
WBS	D	--0.4%
MHK	C	--0.4%
AVA	D	--0.4%
WMS	D	--0.4%
GTLS	F	--0.4%
EXP	F	--0.4%
D	C	--0.4%
NWE	D	--0.41%
TROW	C	--0.41%
PNFP	D	--0.41%
LNC	C	--0.41%
SWK	D	--0.41%
DAL	D	--0.41%
SNV	B	--0.41%
AXTA	C	--0.41%
KRC	D	--0.41%
TPG	D	--0.41%
IAC	D	--0.41%
FFIN	D	--0.41%
CLVT	F	--0.41%
WAL	C	--0.41%
UAA	D	--0.41%
CRSP	F	--0.42%
TFX	C	--0.42%
RMBS	B	--0.42%
TER	A	--0.42%
KKR	C	--0.42%
SSD	F	--0.42%
JHG	B	--0.42%
CUZ	C	--0.42%
USFD	C	--0.42%
TRU	C	--0.42%
ZION	C	--0.42%
EFX	B	--0.42%
RYN	D	--0.42%
BKH	D	--0.42%
CNXC	C	--0.43%
REXR	C	--0.43%
MKSI	B	--0.43%
CBRE	C	--0.43%
LAMR	B	--0.43%
BXP	C	--0.44%
JLL	B	--0.44%
SMG	D	--0.44%
AWK	C	--0.44%
APG	C	--0.45%
JEF	A	--0.45%
HOOD	C	--0.46%
LITE	B	--0.46%
MGM	B	--0.47%
ICUI	B	--0.47%
SAIA	C	--0.47%
VNO	B	--0.47%
AMKR	B	--0.49%
DNLI	C	--0.51%
CHWY	C	--0.72%