SSPY vs. QARP ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to Xtrackers Russell 1000 US QARP ETF (QARP)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$81.98

Average Daily Volume

2,386

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

QARP

Xtrackers Russell 1000 US QARP ETF

QARP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the "underlying index"). The fund will invest at least 80% of its total assets (but typically far more) in component securities of the underlying index. The underlying index is designed to track the equity market performance of companies in the United States selected on the investment style criteria ("factors") of quality and value. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$53.79

Average Daily Volume

3,250

Number of Holdings ^*

345

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	QARP
30 Days	2.71%	2.45%
60 Days	2.03%	3.59%
90 Days	2.72%	5.04%
12 Months	22.62%	26.16%

250 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in QARP	Overlap
A	D	0.15%	0.09%	0.09%
AAPL	C	0.5%	4.88%	0.5%
ABBV	F	0.24%	0.02%	0.02%
ABNB	C	0.12%	0.23%	0.12%
ABT	B	0.06%	0.22%	0.06%
ACGL	C	0.14%	0.24%	0.14%
ACN	B	0.13%	1.18%	0.13%
ADBE	C	0.16%	0.91%	0.16%
ADI	D	0.22%	0.08%	0.08%
ADM	D	0.37%	0.27%	0.27%
ADP	A	0.21%	0.21%	0.21%
ADSK	A	0.17%	0.06%	0.06%
ALB	B	0.05%	0.02%	0.02%
ALGN	D	0.1%	0.05%	0.05%
AMAT	F	0.18%	0.77%	0.18%
AMCR	C	0.13%	0.03%	0.03%
AMD	F	0.14%	0.07%	0.07%
AMGN	F	0.24%	0.03%	0.03%
AMZN	C	0.22%	3.99%	0.22%
ANET	C	0.21%	0.13%	0.13%
AON	A	0.04%	0.33%	0.04%
AOS	F	0.21%	0.06%	0.06%
APA	D	0.07%	0.02%	0.02%
APTV	F	0.4%	0.05%	0.05%
ATO	A	0.33%	0.07%	0.07%
AZO	C	0.14%	0.34%	0.14%
BBWI	C	0.19%	0.02%	0.02%
BBY	D	0.17%	0.23%	0.17%
BIIB	F	0.24%	0.02%	0.02%
BKNG	A	0.11%	0.8%	0.11%
BKR	A	0.35%	0.1%	0.1%
BLDR	D	0.19%	0.17%	0.17%
BMY	B	0.25%	0.62%	0.25%
BRK.A	B	0.5%	5.21%	0.5%
BWA	D	0.42%	0.06%	0.06%
BX	A	0.08%	0.06%	0.06%
CAH	B	0.19%	0.4%	0.19%
CAT	B	0.14%	0.67%	0.14%
CBOE	C	0.04%	0.07%	0.04%
CBRE	B	0.04%	0.09%	0.04%
CCL	A	0.09%	0.05%	0.05%
CDNS	B	0.33%	0.02%	0.02%
CDW	F	0.13%	0.02%	0.02%
CE	F	0.07%	0.02%	0.02%
CF	A	0.09%	0.13%	0.09%
CHRW	B	0.09%	0.06%	0.06%
CHTR	C	0.47%	0.14%	0.14%
CI	D	0.19%	0.55%	0.19%
CINF	A	0.14%	0.09%	0.09%
CL	D	0.41%	0.21%	0.21%
CLX	A	0.41%	0.06%	0.06%
CMCSA	B	0.52%	0.86%	0.52%
CMG	B	0.5%	0.11%	0.11%
CMI	A	0.08%	0.26%	0.08%
CNC	D	0.26%	0.23%	0.23%
CNP	A	0.26%	0.04%	0.04%
COF	C	0.7%	0.16%	0.16%
COP	C	0.07%	0.78%	0.07%
COR	B	0.18%	0.4%	0.18%
COST	A	0.71%	2.32%	0.71%
CPB	D	0.2%	0.02%	0.02%
CPRT	B	0.23%	0.07%	0.07%
CSCO	B	0.21%	1.97%	0.21%
CSX	C	0.08%	0.07%	0.07%
CTAS	B	0.18%	0.08%	0.08%
CTRA	B	0.17%	0.11%	0.11%
CTSH	B	0.13%	0.3%	0.13%
CTVA	C	0.08%	0.02%	0.02%
CVS	D	0.69%	0.18%	0.18%
CVX	A	0.76%	1.54%	0.76%
DAL	B	0.28%	0.22%	0.22%
DD	C	0.05%	0.02%	0.02%
DE	B	0.13%	0.24%	0.13%
DECK	A	0.3%	0.13%	0.13%
DGX	A	0.16%	0.03%	0.03%
DHI	F	0.24%	0.31%	0.24%
DLTR	F	0.17%	0.07%	0.07%
DOW	F	0.07%	0.07%	0.07%
DPZ	C	0.52%	0.03%	0.03%
DRI	B	0.51%	0.13%	0.13%
DVN	F	0.16%	0.17%	0.16%
EA	A	0.49%	0.21%	0.21%
EBAY	D	0.22%	0.09%	0.09%
EG	C	0.14%	0.06%	0.06%
EL	F	0.5%	0.02%	0.02%
ELV	F	0.24%	0.47%	0.24%
EOG	A	0.07%	0.5%	0.07%
EPAM	B	0.13%	0.04%	0.04%
EW	C	0.06%	0.06%	0.06%
EXPD	C	0.09%	0.13%	0.09%
EXPE	B	0.12%	0.17%	0.12%
FANG	C	0.07%	0.19%	0.07%
FAST	B	0.13%	0.22%	0.13%
FCX	F	0.3%	0.04%	0.04%
FDS	B	0.04%	0.1%	0.04%
FDX	B	0.07%	0.33%	0.07%
FFIV	B	0.21%	0.06%	0.06%
FICO	B	0.05%	0.08%	0.05%
FOXA	A	0.1%	0.03%	0.03%
FTNT	C	0.17%	0.22%	0.17%
GEHC	D	0.1%	0.13%	0.1%
GEV	B	0.18%	0.2%	0.18%
GILD	C	0.25%	0.33%	0.25%
GIS	D	0.21%	0.09%	0.09%
GM	C	0.25%	0.25%	0.25%
GOOG	C	0.23%	2.14%	0.23%
GOOGL	C	0.23%	2.36%	0.23%
GPC	D	0.15%	0.07%	0.07%
GRMN	B	0.33%	0.16%	0.16%
GWW	B	0.12%	0.27%	0.12%
HAL	C	0.34%	0.06%	0.06%
HCA	F	0.33%	0.27%	0.27%
HD	B	0.26%	2.0%	0.26%
HII	F	0.08%	0.02%	0.02%
HOLX	D	0.1%	0.04%	0.04%
HPQ	B	0.35%	0.08%	0.08%
HST	C	0.11%	0.03%	0.03%
HSY	F	0.18%	0.09%	0.09%
HUM	C	0.26%	0.31%	0.26%
INCY	C	0.25%	0.07%	0.07%
INTC	C	0.16%	0.08%	0.08%
IP	A	0.06%	0.04%	0.04%
ISRG	A	0.12%	0.18%	0.12%
ITW	B	0.17%	0.31%	0.17%
J	D	0.4%	0.04%	0.04%
JBHT	C	0.08%	0.05%	0.05%
JBL	C	0.38%	0.06%	0.06%
JKHY	D	0.05%	0.05%	0.05%
JNJ	C	0.24%	2.32%	0.24%
JNPR	D	0.2%	0.04%	0.04%
K	A	0.18%	0.06%	0.06%
KEYS	A	0.21%	0.12%	0.12%
KLAC	F	0.17%	0.17%	0.17%
KMB	C	0.42%	0.15%	0.15%
KR	B	0.74%	0.3%	0.3%
KVUE	A	0.42%	0.21%	0.21%
LEN	D	0.25%	0.4%	0.25%
LH	B	0.16%	0.07%	0.07%
LKQ	F	0.14%	0.02%	0.02%
LLY	F	0.23%	0.03%	0.03%
LMT	D	0.09%	0.71%	0.09%
LOW	C	0.26%	0.78%	0.26%
LULU	C	0.31%	0.18%	0.18%
LUV	C	0.25%	0.11%	0.11%
LVS	B	0.08%	0.04%	0.04%
LYB	F	0.07%	0.09%	0.07%
LYV	A	0.09%	0.08%	0.08%
MA	B	0.04%	1.58%	0.04%
MAR	A	0.12%	0.12%	0.12%
MAS	D	0.19%	0.07%	0.07%
MCD	D	0.5%	0.39%	0.39%
MCHP	F	0.14%	0.04%	0.04%
MCK	A	0.18%	1.15%	0.18%
MCO	B	0.04%	0.33%	0.04%
META	D	0.47%	5.17%	0.47%
MGM	D	0.07%	0.05%	0.05%
MHK	D	0.19%	0.02%	0.02%
MKTX	D	0.04%	0.05%	0.04%
MMC	B	0.04%	0.55%	0.04%
MMM	D	0.17%	0.12%	0.12%
MNST	C	0.25%	0.15%	0.15%
MO	A	0.35%	0.63%	0.35%
MOH	F	0.25%	0.06%	0.06%
MOS	F	0.08%	0.04%	0.04%
MPC	D	0.49%	0.25%	0.25%
MRK	D	0.24%	0.32%	0.24%
MRNA	F	0.24%	0.05%	0.05%
MRO	B	0.07%	0.11%	0.07%
MSCI	C	0.04%	0.23%	0.04%
MSFT	D	0.32%	2.05%	0.32%
MTD	F	0.15%	0.09%	0.09%
MU	D	0.15%	0.35%	0.15%
NKE	F	0.33%	0.31%	0.31%
NTAP	C	0.17%	0.06%	0.06%
NUE	C	0.26%	0.37%	0.26%
NVDA	B	0.13%	0.18%	0.13%
NVR	D	0.26%	0.23%	0.23%
ODFL	C	0.08%	0.19%	0.08%
ON	D	0.23%	0.04%	0.04%
ORCL	A	0.34%	0.05%	0.05%
ORLY	B	0.14%	0.38%	0.14%
OTIS	C	0.08%	0.04%	0.04%
OXY	D	0.07%	0.06%	0.06%
PAYC	B	0.22%	0.04%	0.04%
PAYX	B	0.21%	0.2%	0.2%
PCAR	B	0.13%	0.24%	0.13%
PFE	F	0.24%	0.48%	0.24%
PG	C	0.42%	1.34%	0.42%
PGR	A	0.19%	0.06%	0.06%
PHM	D	0.25%	0.21%	0.21%
PKG	A	0.06%	0.06%	0.06%
PM	B	0.35%	0.55%	0.35%
POOL	C	0.13%	0.06%	0.06%
PSA	C	0.11%	0.31%	0.11%
PSX	C	0.51%	0.12%	0.12%
PWR	A	0.4%	0.06%	0.06%
PYPL	B	0.06%	0.34%	0.06%
QCOM	F	0.22%	0.26%	0.22%
REGN	F	0.22%	0.26%	0.22%
RL	C	0.32%	0.05%	0.05%
ROK	C	0.03%	0.09%	0.03%
ROL	B	0.18%	0.04%	0.04%
ROST	D	0.72%	0.25%	0.25%
SBUX	A	0.48%	0.52%	0.48%
SJM	D	0.21%	0.03%	0.03%
SLB	C	0.35%	0.14%	0.14%
SNA	A	0.25%	0.12%	0.12%
SOLV	D	0.05%	0.1%	0.05%
SPG	A	0.07%	0.2%	0.07%
SPGI	C	0.04%	0.07%	0.04%
STLD	B	0.27%	0.23%	0.23%
SWKS	F	0.21%	0.08%	0.08%
SYF	B	0.69%	0.14%	0.14%
SYY	D	0.75%	0.33%	0.33%
T	A	0.33%	0.69%	0.33%
TAP	C	0.25%	0.04%	0.04%
TER	F	0.17%	0.03%	0.03%
TGT	F	0.17%	0.4%	0.17%
TJX	A	0.72%	0.82%	0.72%
TPR	B	0.33%	0.12%	0.12%
TROW	B	0.09%	0.25%	0.09%
TSCO	D	0.12%	0.16%	0.12%
TSLA	B	0.28%	0.75%	0.28%
TSN	B	0.36%	0.04%	0.04%
TT	A	0.07%	0.08%	0.07%
TXN	C	0.23%	0.37%	0.23%
TXT	D	0.16%	0.06%	0.06%
UAL	A	0.28%	0.1%	0.1%
UHS	D	0.32%	0.05%	0.05%
ULTA	F	0.17%	0.15%	0.15%
UNH	B	0.26%	2.32%	0.26%
UNP	C	0.08%	0.12%	0.08%
UPS	C	0.09%	0.4%	0.09%
URI	C	0.14%	0.23%	0.14%
V	A	0.04%	1.84%	0.04%
VICI	C	0.06%	0.07%	0.06%
VLO	C	0.5%	0.18%	0.18%
VRSN	C	0.27%	0.06%	0.06%
VRTX	D	0.23%	0.21%	0.21%
VST	A	0.41%	0.2%	0.2%
VZ	C	0.33%	0.65%	0.33%
WAT	C	0.15%	0.03%	0.03%
WBD	B	0.19%	0.04%	0.04%
WMT	A	0.73%	2.88%	0.73%
WST	C	0.05%	0.09%	0.05%
WTW	B	0.03%	0.03%	0.03%
WY	F	0.17%	0.08%	0.08%
WYNN	C	0.08%	0.04%	0.04%
XOM	B	0.77%	3.19%	0.77%
YUM	D	0.51%	0.05%	0.05%

SSPY Overweight 250 Positions Relative to QARP

Symbol	Grade	Weight
DFS	B	0.69%
WBA	F	0.64%
TTWO	A	0.49%
L	A	0.49%
MSI	B	0.49%
MTCH	D	0.47%
CHD	A	0.42%
CEG	C	0.38%
BG	D	0.37%
HRL	D	0.36%
CRM	B	0.35%
IPG	D	0.34%
IBM	C	0.34%
OMC	C	0.34%
SNPS	B	0.34%
TMUS	B	0.33%
NI	A	0.33%
NRG	B	0.33%
AES	F	0.32%
AWK	C	0.32%
EXC	C	0.3%
SWK	D	0.27%
GDDY	A	0.27%
EQIX	A	0.27%
AKAM	D	0.27%
HUBB	B	0.26%
ENPH	F	0.26%
PEG	A	0.26%
HAS	D	0.26%
MS	A	0.26%
DLR	B	0.26%
ETN	A	0.26%
WMB	A	0.25%
NEM	D	0.25%
KO	D	0.25%
DTE	C	0.25%
F	C	0.25%
CTLT	C	0.25%
EIX	B	0.25%
STZ	D	0.25%
ZTS	D	0.25%
KMI	A	0.25%
ETR	B	0.25%
RJF	A	0.25%
GS	A	0.25%
SCHW	B	0.25%
AEP	C	0.24%
D	C	0.24%
TRGP	A	0.24%
OKE	A	0.24%
FE	C	0.24%
VTRS	A	0.24%
ED	C	0.24%
KDP	F	0.24%
NEE	C	0.24%
AVGO	D	0.23%
PLTR	B	0.23%
NXPI	D	0.23%
TYL	B	0.22%
NFLX	A	0.22%
LW	C	0.22%
DAY	B	0.22%
NOW	A	0.22%
MPWR	F	0.22%
DIS	B	0.21%
PFG	D	0.21%
MKC	C	0.21%
KHC	F	0.21%
QRVO	F	0.21%
MET	A	0.21%
CAG	F	0.21%
ALL	A	0.2%
GL	C	0.2%
AIG	B	0.2%
IEX	C	0.2%
IR	B	0.2%
AFL	B	0.2%
PARA	C	0.2%
PRU	A	0.2%
INTU	B	0.2%
AIZ	A	0.2%
ERIE	D	0.2%
HSIC	C	0.2%
FSLR	F	0.2%
APH	A	0.19%
XYL	D	0.19%
TEL	B	0.19%
HPE	B	0.19%
PNR	A	0.19%
GLW	B	0.19%
PEP	F	0.18%
RSG	A	0.18%
CRWD	B	0.18%
EQT	B	0.18%
WM	B	0.18%
MDLZ	F	0.18%
HON	C	0.17%
ANSS	B	0.17%
DG	F	0.17%
DOV	A	0.17%
GEN	B	0.17%
GE	D	0.17%
MLM	C	0.17%
DELL	B	0.17%
PTC	B	0.17%
VMC	B	0.17%
STX	C	0.17%
WDC	D	0.17%
PANW	B	0.16%
GD	D	0.16%
BA	F	0.16%
TECH	F	0.15%
SMCI	F	0.15%
WRB	A	0.14%
IQV	F	0.14%
TMO	F	0.14%
TRV	B	0.14%
CRL	D	0.14%
CB	C	0.14%
HIG	B	0.14%
KMX	B	0.14%
BALL	F	0.13%
JPM	A	0.13%
AME	A	0.13%
WFC	A	0.13%
ZBRA	B	0.13%
C	A	0.13%
WAB	B	0.13%
IT	C	0.13%
LDOS	C	0.13%
STT	B	0.12%
HLT	A	0.12%
SYK	B	0.12%
STE	D	0.12%
ZBH	C	0.12%
BAC	A	0.12%
ARE	F	0.11%
VTR	B	0.11%
WELL	A	0.11%
EXR	C	0.11%
DVA	C	0.11%
CPT	B	0.11%
BR	A	0.11%
DOC	C	0.11%
BXP	C	0.11%
UBER	F	0.11%
BK	A	0.11%
DXCM	C	0.1%
PODD	C	0.1%
DHR	F	0.1%
NWSA	A	0.1%
IDXX	F	0.1%
NWS	A	0.1%
ESS	B	0.1%
RVTY	F	0.1%
MAA	B	0.1%
INVH	D	0.1%
AVB	B	0.1%
EQR	C	0.1%
FOX	A	0.1%
UDR	B	0.1%
FMC	D	0.09%
BEN	C	0.09%
NOC	D	0.09%
AXON	A	0.09%
RCL	A	0.09%
KKR	A	0.09%
NCLH	B	0.09%
IVZ	B	0.09%
RMD	C	0.09%
ALLE	C	0.08%
CMS	C	0.08%
PCG	A	0.08%
SO	C	0.08%
SRE	A	0.08%
XEL	A	0.08%
HWM	A	0.08%
PPL	A	0.08%
EVRG	A	0.08%
LNT	A	0.08%
AEE	A	0.08%
CARR	C	0.08%
TDG	D	0.08%
JCI	B	0.08%
PH	A	0.08%
NSC	B	0.08%
GNRC	C	0.08%
RTX	D	0.08%
NTRS	A	0.08%
BLK	B	0.08%
LHX	C	0.08%
AMP	A	0.08%
O	C	0.07%
SW	A	0.07%
PPG	F	0.07%
CZR	F	0.07%
HES	B	0.07%
PNW	A	0.07%
WEC	A	0.07%
ES	C	0.07%
DUK	C	0.07%
TFC	A	0.06%
CFG	B	0.06%
HBAN	A	0.06%
FI	A	0.06%
USB	A	0.06%
FITB	B	0.06%
PNC	B	0.06%
KEY	B	0.06%
RF	A	0.06%
MTB	A	0.06%
MDT	D	0.06%
AVY	F	0.06%
BSX	A	0.06%
REG	A	0.06%
KIM	A	0.06%
PLD	F	0.06%
AMT	C	0.06%
FRT	B	0.06%
SHW	B	0.06%
SBAC	D	0.06%
CCI	C	0.06%
IRM	C	0.06%
IFF	D	0.05%
ECL	D	0.05%
BAX	F	0.05%
APD	A	0.05%
BDX	F	0.05%
TFX	F	0.05%
EMN	C	0.05%
FIS	C	0.05%
BRO	B	0.04%
EFX	F	0.04%
CSGP	D	0.04%
VRSK	A	0.04%
GPN	B	0.04%
ICE	C	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
AXP	A	0.04%
CME	B	0.04%
LIN	C	0.04%
ROP	B	0.03%
VLTO	C	0.03%
NDSN	B	0.03%
TDY	B	0.03%
EMR	B	0.03%
TRMB	B	0.03%
FTV	C	0.03%
AJG	A	0.03%

SSPY Underweight 95 Positions Relative to QARP

Symbol	Grade	Weight
LRCX	F	-0.45%
LPLA	A	-0.19%
RS	B	-0.17%
EME	A	-0.15%
WSM	C	-0.15%
FCNCA	A	-0.14%
OC	A	-0.13%
CASY	A	-0.12%
UTHR	C	-0.11%
BJ	A	-0.11%
MTG	C	-0.11%
EVR	B	-0.11%
CPNG	D	-0.1%
AMG	B	-0.09%
DKS	D	-0.09%
WSO	A	-0.08%
AYI	B	-0.08%
HRB	D	-0.08%
PFGC	B	-0.08%
DOX	D	-0.07%
GGG	B	-0.07%
RHI	C	-0.07%
SEIC	B	-0.07%
LNG	A	-0.07%
TOL	B	-0.07%
AGCO	D	-0.06%
EXP	B	-0.06%
TXRH	B	-0.06%
SKX	D	-0.06%
INGR	C	-0.05%
FIX	A	-0.05%
BLD	D	-0.05%
ITT	A	-0.05%
CLF	F	-0.05%
LSTR	D	-0.05%
CSL	C	-0.05%
SAIA	B	-0.05%
COIN	C	-0.05%
RNR	C	-0.05%
MUSA	B	-0.05%
ACI	C	-0.05%
ACM	B	-0.04%
AAL	B	-0.04%
OSK	C	-0.04%
USFD	A	-0.04%
NYT	D	-0.04%
KNSL	B	-0.04%
CHE	D	-0.04%
ARMK	B	-0.04%
LPX	B	-0.04%
CNM	D	-0.04%
ALSN	B	-0.04%
COKE	C	-0.04%
LEA	F	-0.04%
GNTX	C	-0.04%
FND	D	-0.04%
BURL	B	-0.04%
LECO	C	-0.04%
CHRD	D	-0.04%
HLI	A	-0.04%
DBX	B	-0.04%
DCI	B	-0.04%
ALK	B	-0.04%
SSD	F	-0.03%
CRUS	D	-0.03%
PII	F	-0.03%
OLN	F	-0.03%
MTZ	B	-0.03%
FCN	F	-0.03%
RLI	A	-0.03%
PINC	B	-0.03%
G	B	-0.03%
GLPI	C	-0.03%
RPRX	D	-0.03%
KNX	C	-0.03%
MSM	C	-0.03%
THO	B	-0.03%
OVV	B	-0.03%
PVH	C	-0.03%
LOPE	C	-0.03%
GAP	C	-0.03%
JHG	B	-0.03%
LAMR	C	-0.03%
MEDP	D	-0.03%
VVV	D	-0.03%
X	B	-0.03%
EXEL	B	-0.03%
DINO	D	-0.02%
AR	B	-0.02%
NEU	D	-0.02%
FIVE	F	-0.02%
TTEK	F	-0.02%
M	F	-0.02%
CROX	D	-0.02%
IWB	A	-0.0%