ETF Research Center

Rayliant Quantitative Developed Market Equity ETF

ALTAR
Score™

4.5%

Recommen-
dation

AVOID

2024E 2025E
P/E ratio	15.6x	P/Sales ratio	1.5x
P/BV ratio	2.9x	Div. yield	1.9%

Description
Performance
Comps
Fundamentals
Valuation
Rating

RAYD is an actively managed portfolio of developed market equities that are selected and weighted with the aid of quantitative data models.

FUND BASICS
Category	International Equities
Fund Sponsor	Rayliant Investment Research
Website	funds.rayliant.com/rayd.html
Inception date	Dec 16, 2021
Assets (mns)	$62
Currency	USD
Expense ratio	80 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Proprietary
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	195
Wgt avg mkt cap (mns)	$872,441
Large cap (>$10bn)	82.4%
Mid cap ($2-10bn)	11.8%
Small cap (<$2bn)	5.8%
Developed mkts	98.7%
Emerging mkts	1.3%

TOP TEN HOLDINGS
Total	43.3 %
NVIDIA CORP	9.1 %
APPLE INC	6.3 %
MICROSOFT CORP	5.8 %
META PLATFORMS INC	5.1 %
AMAZON.COM INC	3.7 %
SHELL PLC	3.3 %
BOOKING HOLDINGS INC.	3.2 %
COSTCO WHOLESALE CORP	2.5 %
TITAN CEMENT INTERNATIONAL N.V.	2.2 %
ELI LILLY & CO	2.1 %

TOP COUNTRY EXPOSURE
	UNITED STATES	90.3 %
	BRITAIN	13.7 %
	CANADA	4.9 %
	SWITZERLAND	4.3 %
	JAPAN	3.7 %
	SWEDEN	3.4 %
	BELGIUM	2.7 %
	NETHERLANDS	2.3 %
	LUXEMBOURG	2.3 %
	HONG KONG	2.2 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru March 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
8.5%	19.8%	--	--	8.8%

Market Correlations
versus...	Beta	R-squared
S&P500	0.88	98%
MSCI EAFE	0.81	79%
MSCI Emg. Mkts.	0.53	37%

Technical Indicators
Recent close	$27.04
30d moving avg.	$23.98
Annualized volatility	17.3%
Short interest (ETF)	0.0%
Relative strength (RSI)	75

Liquidity measures
Avg. volume (thou.)	4
Turnover	0.2%
Bid/Ask (% of price)	0.37%
ADV underlying (mns)	$131,368

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 1210 potential alternatives to the Rayliant Quantitative Developed Market Equity ETF ETF based on the alternatives' overlap in portfolio holdings with RAYD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

RAYD

Expense:

80 bp

ALTAR Score™:

4.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH RAYD
Ticker	Fund Name	Overlap¹ vs RAYD (%)	Expense ratio (bp)	Savings vs RAYD (bp)	ALTAR Score™ (%)	ALTAR vs RAYD (%)
MMTM	SPDR S&P 1500 Momentum Tilt ETF	47.6	12	68	4.5	0.0
IWY	iShares Russell Top 200 Growth ETF	46.9	20	60	4.9	+0.4
IVW	iShares S&P 500 Growth ETF	46.5	18	62	4.5	-0.0
SPYG	SPDR Portfolio S&P 500 Growth ETF	46.5	4	76	4.6	+0.1
VONG	Vanguard Russell 1000 Growth ETF	46.0	8	72	4.8	+0.3
IWF	iShares Russell 1000 Growth ETF	45.9	19	61	4.7	+0.2
IUSG	iShares Core S&P U.S. Growth ETF	45.5	4	76	4.6	+0.1
FLQL	Franklin LibertyQ U.S. Equity ETF	45.4	15	65	6.0	+1.5
SPMO	Invesco S&P 500 Momentum ETF	45.3	13	67	3.7	-0.8
FDMO	Fidelity Momentum Factor ETF	45.3	15	65	3.7	-0.8
IWL	iShares Russell Top 200 ETF	44.6	15	65	5.0	+0.5
XLG	Invesco S&P 500 Top 50 ETF	44.5	20	60	4.7	+0.2
OEF	iShares S&P 100 ETF	44.2	20	60	5.0	+0.5
MGC	Vanguard Mega Cap ETF	44.2	7	73	5.1	+0.6
SPXN	ProShares S&P 500 Ex-Financials ETF	44.0	9	71	5.3	+0.8
XVV	iShares ESG Screened S&P 500 ETF	43.8	8	72	5.1	+0.6
SPXE	ProShares S&P 500 Ex-Energy ETF	43.7	9	71	5.3	+0.8
ILCG	iShares Morningstar Growth ETF	43.7	4	76	4.1	-0.4
SCHG	Schwab U.S. Large-Cap Growth ETF	43.7	4	76	4.3	-0.2
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	43.7	7	73	5.2	+0.7
FLRG	Fidelity U.S. Multifactor ETF	43.5	15	65	7.7	+3.2
EGUS	iShares ESG Aware MSCI USA Growth ETF	43.4	18	62	4.3	-0.2
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	43.3	9	71	5.8	+1.3
BKLC	BNY Mellon US Large Cap Core Equity ETF	43.3	0	80	5.3	+0.8
QRFT	Qraft Ai-Enhanced U.S. Large Cap ETF	43.1	75	5	4.7	+0.2
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	43.1	20	60	5.1	+0.6
VOTE	TCW Transform 500 ETF	43.1	5	75	5.2	+0.7
STXG	Strive 1000 Growth ETF	43.1	18	62	4.2	-0.3
VUG	Vanguard Growth ETF	42.6	4	76	4.3	-0.2
BBUS	JP Morgan Betabuilders U.S. Equity ETF	42.6	2	78	5.3	+0.8
IVV	iShares Core S&P 500 ETF	42.4	3	77	5.3	+0.8
STRV	Strive 500 ETF	42.3	5	75	5.2	+0.7
SPY	SPDR S&P 500 ETF Trust	42.3	9	71	5.2	+0.7
ESGV	Vanguard ESG U.S. Stock ETF	42.3	9	71	5.1	+0.6
QQQM	Invesco NASDAQ 100 ETF	42.3	15	65	4.7	+0.2
QQQ	Invesco QQQ Trust Series I	42.3	20	60	4.6	+0.1
SPLG	SPDR Portfolio S&P 500 ETF	42.2	2	78	5.3	+0.8
MGK	Vanguard Mega Cap Growth ETF	42.1	7	73	4.4	-0.1
AMOM	Qraft AI-Enhanced U.S. Large Cap Momentum ETF	42.0	75	5	3.8	-0.7
VV	Vanguard Large-Cap ETF	42.0	4	76	5.2	+0.7
PBUS	Invesco MSCI USA ETF	42.0	4	76	5.3	+0.8
LCTU	BlackRock U.S. Carbon Transition Readiness ETF	41.9	14	66	5.4	+0.9
VOO	Vanguard S&P 500 ETF	41.8	3	77	5.3	+0.8
VOOG	Vanguard S&P 500 Growth ETF	41.7	10	70	5.5	+1.0
BTHM	BlackRock Future U.S. Themes ETF	41.6	60	20	4.3	-0.2
ILCB	iShares Morningstar U.S. Equity ETF	41.6	3	77	5.3	+0.8
QVML	Invesco S&P 500 QVM Multi-factor ETF	41.5	11	69	5.2	+0.7
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	41.5	20	60	5.1	+0.6
QGRW	WisdomTree U.S. Quality Growth Fund	41.2	28	52	4.7	+0.2
USCA	Xtrackers MSCI USA Climate Action Equity ETF	41.1	7	73	5.2	+0.7
SNPG	Xtrackers S&P 500 Growth ESG ETF	41.1	15	65	4.8	+0.3
SPXV	ProShares S&P 500 Ex-Health Care ETF	41.0	9	71	5.1	+0.6
SCHX	Schwab U.S. Large-Cap ETF	40.9	3	77	5.3	+0.8
JCTR	JPMorgan Carbon Transition U.S. Equity ETF	40.9	15	65	4.9	+0.4
JGRO	JPMorgan Active Growth ETF	40.9	44	36	3.4	-1.1
NZUS	SPDR MSCI USA Climate Paris Aligned ETF	40.8	10	70	4.9	+0.4
FQAL	Fidelity Quality Factor ETF	40.8	15	65	5.9	+1.4
TMFC	Motley Fool 100 Index ETF	40.7	50	30	4.0	-0.5
USNZ	Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	40.7	10	70	5.4	+0.9
ESGU	iShares ESG Aware MSCI USA ETF	40.7	15	65	5.2	+0.7
SNPE	Xtrackers S&P 500 ESG ETF	40.6	10	70	5.3	+0.8
GSPY	Gotham Enhanced 500 ETF	40.4	50	30	5.3	+0.8
IWB	iShares Russell 1000 ETF	40.2	15	65	5.1	+0.6
DFUS	Dimensional U.S. Equity ETF	40.1	9	71	5.1	+0.6
VONE	Vanguard Russell 1000 ETF	40.1	8	72	5.2	+0.7
SCHK	Schwab 1000 Index ETF	40.1	5	75	5.3	+0.8
PABU	iShares Paris-Aligned Climate MSCI USA ETF	40.0	10	70	4.8	+0.3
IYY	iShares Dow Jones U.S. ETF	40.0	20	60	5.1	+0.6
SPTM	SPDR Portfolio S&P 1500 Composite Stock Market ETF	40.0	3	77	5.4	+0.9
QQMG	Invesco ESG NASDAQ 100 ETF	40.0	20	60	4.7	+0.2
AFLG	First Trust Active Factor Large Cap ETF	39.9	55	25	6.2	+1.7
LRGF	iShares U.S. Equity Factor ETF	39.9	8	72	5.8	+1.3
ONEQ	Fidelity Nasdaq Composite Index ETF	39.8	21	59	3.9	-0.6
FBCG	Fidelity Blue Chip Growth ETF	39.8	59	21	2.6	-1.9
GUSA	Goldman Sachs MarketBeta U.S. 1000 Equity ETF	39.6	11	69	5.2	+0.7
NACP	Impact Shares NAACP Minority Empowerment ETF	39.6	49	31	5.0	+0.5
APUE	ActivePassive U.S. Equity ETF	39.4	45	35	5.0	+0.5
RVRB	Reverb ETF	39.4	30	50	5.0	+0.5
RECS	Columbia Research Enhanced Core ETF	39.3	15	65	5.6	+1.1
LRND	IQ U.S. Large Cap R&D Leaders ETF	39.2	14	66	6.3	+1.8
IOO	iShares Global 100 ETF	39.1	41	39	4.8	+0.3
QLC	FlexShares US Quality Large Cap Index Fund	39.1	25	55	5.6	+1.1
SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	38.9	45	35	4.7	+0.2
USMC	Principal U.S. Mega-Cap ETF	38.9	12	68	5.0	+0.5
SCHB	Schwab U.S. Broad Market ETF	38.8	3	77	5.2	+0.7
IWV	iShares Russell 3000 ETF	38.7	20	60	5.0	+0.5
VTI	Vanguard Total Stock Market ETF	38.7	3	77	5.1	+0.6
ITOT	iShares Core S&P Total U.S. Stock Market ETF	38.7	3	77	5.1	+0.6
VTHR	Vanguard Russell 3000 ETF	38.6	10	70	5.1	+0.6
DFAU	Dimensional US Core Equity Market ETF	38.5	12	68	5.4	+0.9
KOKU	Xtrackers MSCI Kokusai Equity ETF	37.7	9	71	5.5	+1.0
EPS	WisdomTree U.S. LargeCap Fund	37.7	8	72	6.3	+1.8
QUAL	iShares MSCI USA Quality Factor ETF	37.6	15	65	5.5	+1.0
MTUM	iShares MSCI USA Momentum Factor ETF	37.5	15	65	3.7	-0.8
TOK	iShares MSCI Kokusai ETF	37.1	26	54	5.3	+0.8
TMFE	Motley Fool Capital Efficiency 100 Index ETF	36.9	50	30	4.7	+0.2
DFSU	Dimensional US Sustainability Core 1 ETF	36.8	18	62	5.7	+1.2
SFY	SoFi Select 500 ETF	36.8	0	80	5.2	+0.7
PALC	Pacer Lunt Large Cap Multi-Factor Alternator ETF	36.5	60	20	4.1	-0.5
HAPI	Harbor Human Capital Factor US Large Cap ETF	36.5	36	44	4.8	+0.3
QARP	Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	36.4	19	61	6.5	+2.0
ADME	Aptus Drawdown Managed Equity ETF	36.3	79	1	4.3	-0.2
IQSU	IQ Candriam U.S. Large Cap Equity ETF	36.3	9	71	5.0	+0.5
ESG	FlexShares Trust FlexShares STOXX US ESG Select Index Fund	36.2	32	48	5.2	+0.7
GDEF	Goldman Sachs Defensive Equity ETF	36.2	55	25	4.4	-0.2
CATH	Global X S&P 500 Catholic Values Custom ETF	36.2	29	51	5.1	+0.6
IGM	iShares Expanded Tech Sector ETF	36.1	41	39	4.5	0.0
PWB	Invesco Large Cap Growth ETF	35.9	56	24	3.1	-1.4
TECB	iShares U.S. Tech Breakthrough Multisector ETF	35.8	40	40	4.1	-0.4
HDUS	Hartford Disciplined US Equity ETF	35.8	19	61	6.2	+1.7
URTH	iShares MSCI World ETF	35.5	24	56	5.4	+0.9
IYW	iShares U.S. Technology ETF	35.5	40	40	4.5	-0.1
FDLO	Fidelity Low Volatility Factor ETF	35.4	15	65	5.5	+1.0
DYNF	BlackRock U.S. Equity Factor Rotation ETF	35.4	30	50	4.7	+0.2
FCPI	Fidelity Stocks for Inflation ETF	35.3	15	65	8.6	+4.1
ESGG	FlexShares STOXX Global ESG Select Index Fund	35.2	42	38	5.1	+0.6
LRGE	ClearBridge Large Cap Growth ESG ETF	35.1	59	21	3.4	-1.1
NANC	Unusual Whales Subversive Democratic Trading ETF	34.7	75	5	3.8	-0.8
QUS	SPDR MSCI USA StrategicFactors ETF	34.4	15	65	6.0	+1.5
IETC	iShares U.S. Tech Independence Focused ETF	34.3	18	62	4.4	-0.1
GGRW	Gabelli Growth Innovators ETF	34.2	90	-10	2.3	-2.2
SHE	SPDR MSCI USA Gender Diversity ETF	34.1	20	60	5.0	+0.5
JQUA	JPMorgan U.S. Quality Factor ETF	33.9	12	68	5.7	+1.2
SFYF	SoFi Social 50 ETF	33.8	29	51	-2.6	-7.1
WRND	IQ Global Equity R&D Leaders ETF	33.6	18	62	7.2	+2.7
FVAL	Fidelity Value Factor ETF	33.5	15	65	7.5	+3.0
PZLG	Puzzle Mature Growth	33.5	0	80	4.2	-0.3
CACG	ClearBridge All Cap Growth ESG ETF	33.1	54	26	3.4	-1.1
WOMN	Impact Shares YWCA Women's Empowerment ETF	33.1	75	5	4.9	+0.4
GLOF	iShares Global Equity Factor ETF	33.0	20	60	7.1	+2.6
KRMA	Global X Conscious Companies ETF	32.9	43	37	5.8	+1.3
JHML	John Hancock Multifactor Large Cap ETF	32.8	29	51	5.6	+1.1
VSLU	Applied Finance Valuation Large Cap ETF	32.7	49	31	6.0	+1.5
FDRR	Fidelity Dividend ETF for Rising Rates	32.5	15	65	7.9	+3.4
GLOV	Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF	32.4	25	55	6.1	+1.6
AVUS	Avantis U.S. Equity ETF	32.4	15	65	6.0	+1.5
TTAC	FCF US Quality ETF	32.3	59	21	6.5	+2.0
SPHQ	Invesco S&P 500 Quality ETF	32.3	15	65	5.4	+0.9
PNQI	Invesco NASDAQ Internet ETF	32.3	60	20	2.6	-1.9
ACWI	iShares MSCI ACWI ETF	32.2	32	48	5.5	+1.0
IUS	Invesco RAFI Strategic US ETF	32.0	19	61	7.3	+2.8
ACVF	American Conservative Values ETF	32.0	75	5	4.4	-0.1
CRBN	iShares MSCI ACWI Low Carbon Target ETF	31.9	20	60	5.6	+1.1
TILT	FlexShares Morningstar US Market Factor Tilt Index Fund	31.8	25	55	5.7	+1.2
PSET	Principal Quality ETF	31.6	15	65	5.7	+1.2
NZAC	SPDR MSCI ACWI Climate Paris Aligned ETF	31.6	12	68	5.1	+0.6
DFAC	Dimensional U.S. Core Equity 2 ETF	31.5	17	63	5.7	+1.2
FMIL	Fidelity New Millennium ETF	31.4	59	21	4.3	-0.2
USSG	Xtrackers MSCI USA ESG Leaders Equity ETF	31.3	10	70	5.2	+0.7
QWLD	SPDR MSCI World StrategicFactors ETF	31.3	30	50	6.1	+1.6
ROUS	Hartford Multifactor US Equity ETF	31.3	19	61	6.4	+1.9
IXN	iShares Global Tech ETF	31.2	41	39	4.3	-0.2
QDEF	FlexShares Quality Dividend Defensive Index Fund	31.2	37	43	4.8	+0.3
BBLU	EA Bridgeway Blue Chip ETF EA Bridgeway Blue Chip ETF	31.1	15	65	5.6	+1.1
SEIQ	SEI Enhanced U.S. Large Cap Quality Factor ETF	30.9	15	65	7.3	+2.8
SEIM	SEI Enhanced U.S. Large Cap Momentum Factor ETF	30.9	15	65	5.4	+0.9
HLAL	Wahed FTSE USA Shariah ETF	30.8	50	30	5.0	+0.5
SUSL	iShares ESG MSCI USA Leaders ETF	30.8	10	70	5.1	+0.6
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	30.8	29	51	6.3	+1.8
NULC	Nuveen ESG Large-Cap ETF	30.6	21	59	5.5	+1.0
SUSA	iShares MSCI USA ESG Select ETF	30.6	25	55	5.4	+0.9
VGT	Vanguard Information Technology ETF	30.6	10	70	4.7	+0.2
XNTK	SPDR NYSE Technology ETF	30.5	35	45	4.0	-0.6
JMOM	JPMorgan U.S. Momentum Factor ETF	30.4	12	68	4.8	+0.3
SIXA	ETC 6 Meridian Mega Cap Equity ETF	30.3	80	0	5.7	+1.2
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	30.2	9	71	5.7	+1.2
RFDA	RiverFront Dynamic US Dividend Advantage ETF	30.1	52	28	6.3	+1.8
RAFE	PIMCO RAFI ESG U.S. ETF	29.6	29	51	7.2	+2.7
METV	Roundhill Ball Metaverse ETF	29.4	59	21	3.4	-1.1
DSI	iShares MSCI KLD 400 Social ETF	29.4	25	55	5.1	+0.6
DEMZ	Democratic Large Cap Core ETF	29.4	45	35	4.2	-0.3
VT	Vanguard Total World Stock ETF	29.1	7	73	5.8	+1.3
MBCC	Monarch Blue Chips Core ETF	29.0	125	-45	3.4	-1.1
DARP	Grizzle Growth ETF	28.9	75	5	3.2	-1.3
VUSE	Vident U.S. Equity Strategy ETF	28.8	50	30	3.6	-0.9
DUHP	Dimensional US High Profitability ETF	28.7	21	59	7.0	+2.5
CAML	Congress Large Cap Growth ETF	28.7	66	14	3.5	-1.1
FDG	American Century Focused Dynamic Growth ETF	28.5	45	35	2.7	-1.8
XPND	First Trust Expanded Technology ETF	28.5	65	15	3.9	-0.6
VEGN	US Vegan Climate ETF	28.3	60	20	4.7	+0.2
RFFC	ALPS Active Equity Opportunity ETF	28.2	48	32	4.5	+0.0
DGRW	WisdomTree US Quality Dividend Growth Fund	28.2	28	52	6.2	+1.7
RUFF	Alpha Dog ETF	28.2	94	-14	4.8	+0.3
QLV	FlexShares US Quality Low Volatility Index Fund	28.2	22	58	5.2	+0.7
CHAT	Roundhill Generative AI & Technology ETF	28.1	75	5	4.2	-0.3
VERS	ProShares Metaverse ETF	28.0	58	22	-8.3	-12.8
FTEC	Fidelity MSCI Information Technology Index ETF	28.0	8	72	4.8	+0.3
NULG	Nuveen ESG Large-Cap Growth ETF	27.8	26	54	4.4	-0.1
CGGR	Capital Group Growth ETF	27.6	39	41	3.5	-1.0
DFNV	Donoghue Forlines Innovation ETF	27.4	69	11	5.0	+0.5
LCF	Touchstone US Large Cap Focused ETF	27.2	69	11	4.5	+0.0
CGUS	Capital Group Core Equity ETF	27.2	33	47	4.7	+0.2
KVLE	KraneShares Value Line Dynamic Dividend Equity Index ETF	27.1	56	24	6.3	+1.8
VOOV	Vanguard S&P 500 Value ETF	26.7	10	70	5.5	+1.0
QGRO	American Century U.S. Quality Growth ETF	26.7	29	51	5.8	+1.3
HLGE	Hartford Longevity Economy ETF	26.6	44	36	6.6	+2.1
FNDX	Schwab Fundamental US Large Co. Index ETF	26.5	25	55	7.1	+2.6
SPXT	ProShares S&P 500 Ex-Technology ETF	26.4	9	71	5.7	+1.2
OUSA	ALPS O'Shares U.S. Quality Dividend ETF	26.4	48	32	6.2	+1.7
GINN	Goldman Sachs Innovate Equity ETF	26.2	52	28	2.7	-1.8
FDVV	Fidelity High Dividend ETF	26.2	15	65	8.9	+4.4
AIQ	Global X Artificial Intelligence & Technology ETF	26.1	68	12	4.2	-0.3
JHDV	John Hancock U.S. High Dividend ETF	26.1	34	46	6.5	+2.0
GFGF	Guru Favorite Stocks ETF Guru Favorite Stocks Fund	26.0	65	15	3.8	-0.8
ANEW	ProShares MSCI Transformational Changes ETF	25.7	45	35	3.3	-1.2
BKWO	BNY Mellon Women's Opportunities ETF	25.7	50	30	3.8	-0.7
OGIG	ALPS O'Shares Global Internet Giants ETF	25.5	48	32	0.5	-4.1
DLN	WisdomTree U.S. LargeCap Dividend Fund	25.5	28	52	6.2	+1.7
XLK	Technology Select Sector SPDR Fund	25.3	9	71	5.2	+0.7
FNDB	Schwab Fundamental US Broad Market Index ETF	25.2	25	55	7.1	+2.6
FMET	Fidelity Metaverse ETF	25.0	39	41	4.4	-0.1
FSST	Fidelity Sustainable U.S. Equity ETF	25.0	59	21	4.9	+0.4
MVPS	Amplify Thematic All-Stars ETF	24.8	49	31	1.7	-2.9
GGME	Invesco Next Gen Media and Gaming ETF	24.7	60	20	4.1	-0.4
VLU	SPDR S&P 1500 Value Tilt ETF	24.7	12	68	7.1	+2.6
QDF	FlexShares Quality Dividend Index Fund	24.6	37	43	5.0	+0.5
RPG	Invesco S&P 500 Pure Growth ETF	24.5	35	45	3.4	-1.1
AOTG	AOT Growth and Innovation ETF	24.4	75	5	3.0	-1.5
RWL	Invesco S&P 500 Revenue ETF	24.2	39	41	6.6	+2.1
KOCG	FIS Knights of Columbus Global Belief ETF	24.0	75	5	5.3	+0.8
AVLV	Avantis U.S. Large Cap Value ETF	23.9	15	65	7.5	+3.0
QQQE	Direxion NASDAQ-100 Equal Weighted Index Shares	23.9	35	45	4.8	+0.3
DTD	WisdomTree U.S. Total Dividend Fund	23.8	28	52	6.5	+2.0
WUGI	AXS Esoterica NextG Economy ETF	23.5	75	5	2.1	-2.4
COWG	Pacer US Large Cap Cash Cows Growth Leaders ETF	23.4	49	31	4.8	+0.3
GBUY	Goldman Sachs Future Consumer Equity ETF	23.4	75	5	3.1	-1.4
STXD	Strive 1000 Dividend Growth ETF	23.3	35	45	5.5	+1.0
BUZZ	VanEck Social Sentiment ETF	23.3	75	5	-0.7	-5.2
USMF	WisdomTree U.S. Multifactor Fund	23.2	28	52	6.9	+2.4
EQWL	Invesco S&P 100 Equal Weight ETF	23.0	25	55	6.8	+2.3
SAMT	Strategas Macro Thematic Opportunities ETF	23.0	65	15	4.7	+0.2
JEPI	JPMorgan Equity Premium Income ETF	23.0	35	45	5.3	+0.8
HKND	Humankind US Stock ETF	22.9	11	69	7.0	+2.5
SEIV	SEI Enhanced U.S. Large Cap Value Factor ETF	22.9	15	65	10.1	+5.6
BRNY	Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation	22.9	79	1	6.2	+1.7
PRF	Invesco FTSE RAFI US 1000 ETF	22.9	39	41	7.3	+2.8
VFMV	Vanguard U.S. Minimum Volatility ETF	22.6	13	67	5.4	+0.9
CGGO	Capital Group Global Growth Equity ETF	22.6	47	33	4.3	-0.2
VIG	Vanguard Dividend Appreciation ETF	22.6	6	74	5.8	+1.3
TIME	Clockwise Core Equity & Innovation ETF	22.6	95	-15	2.0	-2.5
USXF	iShares ESG Advanced MSCI USA ETF	22.5	10	70	5.2	+0.7
GK	AdvisorShares Gerber Kawasaki ETF	22.3	75	5	3.2	-1.3
PFM	Invesco Dividend Achievers ETF	22.2	53	27	5.7	+1.2
WISE	Themes Generative Artificial Intelligence ETF	22.1	35	45	2.1	-2.4
QQEW	First Trust Nasdaq-100 Equal Weighted Index Fund	22.0	58	22	4.8	+0.3
VFMO	Vanguard U.S. Momentum Factor ETF	21.9	13	67	2.8	-1.7
USMV	iShares MSCI USA Min Vol Factor ETF	21.5	15	65	6.1	+1.6
GDIV	Harbor Dividend Growth Leaders ETF	21.3	50	30	6.0	+1.5
NTZG	Nuveen Global Net Zero Transition ETF	21.2	56	24	4.9	+0.4
VFQY	Vanguard U.S. Quality Factor ETF	20.9	13	67	7.2	+2.7
ZECP	Zacks Earnings Consistent Portfolio ETF	20.8	55	25	5.0	+0.5
ACSI	American Customer Satisfaction ETF	20.8	65	15	4.9	+0.4
VSMV	VictoryShares US Multi-Factor Minimum Volatility ETF	20.6	35	45	7.2	+2.7
DGT	SPDR Global Dow ETF	20.5	50	30	6.7	+2.2
DGRO	iShares Core Dividend Growth ETF	20.5	8	72	6.5	+2.0
SPMV	Invesco S&P 500 Minimum Variance ETF	20.4	10	70	5.6	+1.1
WLDR	Affinity World Leaders Equity ETF	20.4	67	13	8.5	+4.0
ITAN	Sparkline Intangible Value ETF	20.3	50	30	6.2	+1.7
SELV	SEI Enhanced Low Volatility U.S. Large Cap ETF	20.2	15	65	6.9	+2.4
NBDS	Neuberger Berman Disrupters ETF	20.1	55	25	1.9	-2.6
MILN	Global X Millennial Consumer ETF	20.0	50	30	2.4	-2.1
GVIP	Goldman Sachs Hedge Industry VIP ETF	20.0	45	35	4.6	+0.1
LVOL	American Century Low Volatility ETF	19.9	29	51	5.3	+0.8
ESMV	iShares ESG MSCI USA Min Vol Factor ETF	19.6	18	62	6.3	+1.8
VFMF	Vanguard U.S. Multifactor ETF	19.6	18	62	8.7	+4.2
CHGX	AXS Change Finance ESG ETF	19.5	49	31	5.1	+0.6
FTC	First Trust Large Cap Growth AlphaDEX Fund	19.5	59	21	2.8	-1.7
VALQ	American Century U.S. Quality Value ETF	19.4	29	51	7.4	+2.9
SSPY	Syntax Stratified LargeCap ETF	19.3	30	50	6.5	+2.0
ROE	Astoria US Quality Kings ETF	19.2	49	31	8.1	+3.6
INNO	Harbor Disruptive Innovation ETF	19.2	75	5	-3.5	-8.0
BUYZ	Franklin Disruptive Commerce ETF	19.0	50	30	2.1	-2.4
ILCV	iShares Morningstar Value ETF	19.0	4	76	6.7	+2.2
JVAL	JPMorgan U.S. Value Factor ETF	18.9	12	68	8.4	+3.9
QTEC	First Trust NASDAQ-100 Technology Sector Index Fund	18.9	57	23	3.8	-0.7
DIA	SPDR Dow Jones Industrial Average ETF Trust	18.7	16	64	5.8	+1.3
IGPT	Invesco AI and Next Gen Software ETF	18.6	60	20	3.8	-0.7
DRUP	GraniteShares Nasdaq Select Disruptors ETF	18.6	60	20	3.9	-0.6
ULVM	VictoryShares US Value Momentum ETF	18.6	20	60	7.4	+2.9
JOET	Virtus Terranova US Quality Momentum ETF	18.4	29	51	5.2	+0.7
CARZ	First Trust NASDAQ Global Auto Index Fund	18.3	70	10	3.5	-1.1
TDIV	First Trust NASDAQ Technology Dividend Index Fund	18.1	50	30	5.8	+1.3
CLOD	Themes Cloud Computing ETF	18.0	35	45	3.7	-0.8
LCLG	Logan Capital Broad Innovative Growth ETF	18.0	99	-19	4.9	+0.4
FUNL	CornerCap Fundametrics Large-Cap ETF	17.8	50	30	7.0	+2.5
IYC	iShares U.S. Consumer Discretionary ETF	17.8	40	40	3.8	-0.8
WFH	Direxion Work From Home ETF	17.4	45	35	0.0	-4.5
EDOW	First Trust Dow 30 Equal Weight ETF	17.4	50	30	6.0	+1.5
PDP	Invesco Dorsey Wright Momentum ETF	17.4	62	18	3.7	-0.9
CFA	VictoryShares US 500 Volatility Wtd ETF	17.4	35	45	6.0	+1.5
CFO	VictoryShares US 500 Enhanced Volatility Wtd ETF	17.4	40	40	5.9	+1.4
IVRS	iShares Future Metaverse Tech and Communications ETF	17.3	47	33	-5.3	-9.8
CGDV	Capital Group Dividend Value ETF	17.2	33	47	5.8	+1.3
SPLV	Invesco S&P 500 Low Volatility ETF	17.2	25	55	5.7	+1.2
ALTL	Pacer Lunt Large Cap Alternator ETF	17.2	60	20	5.3	+0.8
ACWV	iShares MSCI Global Min Vol Factor ETF	17.0	20	60	6.7	+2.2
VNSE	Natixis Vaughan Nelson Select ETF	17.0	80	0	3.2	-1.3
KRUZ	Unusual Whales Subversive Republican Trading ETF	17.0	75	5	4.9	+0.4
HUSV	First Trust Horizon Managed Volatility Domestic ETF	16.9	70	10	5.0	+0.5
FIVG	Defiance Next Gen Connectivity ETF	16.8	30	50	6.7	+2.2
IQM	Franklin Intelligent Machines ETF	16.6	50	30	3.1	-1.4
DEUS	Xtrackers Russell US Multifactor ETF	16.4	17	63	7.1	+2.6
FLLV	Franklin U.S. Low Volatility ETF	16.3	29	51	5.9	+1.4
YLDE	ClearBridge Dividend Strategy ESG ETF	16.2	60	20	5.4	+0.9
FDWM	Fidelity Women's Leadership ETF	16.2	59	21	4.8	+0.3
IEDI	iShares U.S. Consumer Focused ETF	16.1	18	62	5.0	+0.5
LGLV	SPDR SSGA US Large Cap Low Volatility Index ETF	16.1	12	68	5.5	+1.0
ARVR	First Trust Indxx Metaverse ETF	16.0	70	10	2.5	-2.0
FTCS	First Trust Capital Strength ETF	15.9	55	25	5.6	+1.1
FEX	First Trust Large Cap Core AlphaDEX Fund	15.8	59	21	5.6	+1.1
OALC	OneAscent Large Cap Core ETF	15.8	86	-6	5.9	+1.4
XRLV	Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF	15.8	25	55	5.8	+1.3
RSPT	Invesco S&P 500 Equal Weight Technology ETF	15.7	40	40	5.6	+1.1
TRFM	AAM Transformers ETF	15.6	49	31	1.2	-3.3
IVE	iShares S&P 500 Value ETF	15.6	18	62	6.6	+2.1
SPYV	SPDR Portfolio S&P 500 Value ETF	15.5	4	76	6.7	+2.2
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	15.5	9	71	6.0	+1.5
XDAT	Franklin Exponential Data ETF	15.5	50	30	2.9	-1.7
SZNE	Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF	15.5	60	20	5.0	+0.5
DRIV	Global X Autonomous & Electric Vehicles ETF	15.5	68	12	3.4	-1.2
TRFK	Pacer Data and Digital Revolution ETF	15.3	60	20	4.0	-0.5
IUSV	iShares Core S&P US Value ETF	15.1	4	76	6.8	+2.3
DSTL	Distillate US Fundamental Stability & Value ETF	15.1	39	41	7.8	+3.3
BUL	Pacer US Cash Cows Growth ETF	15.0	60	20	7.5	+3.0
JPUS	JPMorgan Diversified Return U.S. Equity ETF	15.0	18	62	7.6	+3.1
SSPX	Janus Henderson U.S. Sustainable Equity ETF	15.0	55	25	4.0	-0.5
VIRS	Pacer BioThreat Strategy ETF	14.9	70	10	6.0	+1.5
BTEK	Future Tech ETF	14.8	88	-8	2.1	-2.4
RXI	iShares Global Consumer Discretionary ETF	14.8	41	39	5.5	+1.0
RSP	Invesco S&P 500 Equal Weight ETF	14.8	20	60	6.2	+1.7
FTGS	First Trust Growth Strength ETF	14.6	60	20	6.5	+2.0
KNCT	Invesco Next Gen Connectivity ETF	14.6	40	40	5.9	+1.4
RSPE	Invesco ESG S&P 500 Equal Weight ETF	14.5	20	60	6.4	+1.9
UTRN	Vesper U.S. Large Cap Short-Term Reversal Strategy ETF	14.5	75	5	2.1	-2.5
VTV	Vanguard Value ETF	14.3	4	76	7.0	+2.5
FFND	Future Fund Active ETF	14.3	100	-20	0.3	-4.2
SKYY	First Trust Cloud Computing ETF	14.3	60	20	3.5	-1.0
FDIS	Fidelity MSCI Consumer Discretionary Index ETF	14.2	8	72	4.9	+0.4
DVND	Touchstone Dividend Select ETF	14.2	67	13	6.4	+1.9
VCR	Vanguard Consumer Discretionary ETF	14.2	10	70	4.7	+0.2
ONEO	SPDR Russell 1000 Momentum Focus ETF	14.1	20	60	7.1	+2.6
XLY	Consumer Discretionary Select Sector SPDR Fund	14.1	9	71	5.1	+0.6
LEAD	Siren DIVCON Leaders Dividend ETF	14.0	43	37	5.2	+0.7
STXV	Strive 1000 Value ETF	13.8	18	62	7.8	+3.3
PY	Principal Value ETF	13.8	15	65	7.5	+3.0
FAD	First Trust Multi Cap Growth AlphaDEX Fund	13.7	64	16	2.1	-2.4
WTAI	WisdomTree Artificial Intelligence and Innovation Fund	13.7	45	35	1.4	-3.2
EUSA	iShares MSCI USA Equal Weighted ETF	13.7	9	71	6.1	+1.6
SXQG	ETC 6 Meridian Quality Growth ETF	13.6	100	-20	4.4	-0.1
LEGR	First Trust Indxx Innovative Transaction & Process ETF	13.5	65	15	8.4	+3.9
DBLV	AdvisorShares DoubleLine Value Equity ETF	13.5	90	-10	7.5	+3.0
SIZE	iShares MSCI USA Size Factor ETF	13.5	15	65	6.0	+1.5
MGV	Vanguard Mega Cap Value ETF	13.5	7	73	6.8	+2.3
QQXT	First Trust Nasdaq-100 Ex-Technology Sector Index Fund	13.5	60	20	5.6	+1.1
GSIE	Goldman Sachs ActiveBeta International Equity ETF	13.4	25	55	7.4	+2.9
QINT	American Century Quality Diversified International ETF	13.4	39	41	7.4	+2.9
FDN	First Trust Dow Jones Internet Index Fund	13.4	52	28	1.5	-3.0
BLKC	Invesco Alerian Galaxy Blockchain Users and Decentralized Co	13.3	61	19	-4.0	-8.5
SCHV	Schwab U.S. Large-Cap Value ETF	13.3	4	76	6.7	+2.2
BWEB	Bitwise Web3 ETF	13.3	85	-5	0.9	-3.6
IRBO	iShares Robotics and Artificial Intelligence Multisector ETF	13.3	47	33	0.7	-3.9
LRNZ	TrueShares Technology, AI & Deep Learning ETF	13.1	69	11	-1.2	-5.7
GSEU	Goldman Sachs ActiveBeta Europe Equity ETF	13.0	25	55	7.4	+2.9
HAPY	Harbor Human Capital Factor Unconstrained ETF	12.9	50	30	4.8	+0.3
SHOC	Strive U.S. Semiconductor ETF Strive U.S. Semiconductor ETF	12.7	40	40	3.8	-0.7
SMH	VanEck Semiconductor ETF	12.7	35	45	4.2	-0.3
BMVP	Invesco Bloomberg MVP Multi-factor ETF	12.6	29	51	8.1	+3.6
IGV	iShares Expanded Tech-Software Sector ETF	12.6	41	39	3.3	-1.2
VYM	Vanguard High Dividend Yield Index ETF	12.6	6	74	7.3	+2.8
PEXL	Pacer US Export Leaders ETF	12.5	60	20	5.1	+0.6
GURU	Global X Guru Index ETF	12.5	75	5	2.5	-2.0
XT	iShares Exponential Technologies ETF	12.4	46	34	3.9	-0.6
SOXQ	Invesco PHLX Semiconductor ETF	12.4	19	61	5.1	+0.6
BGIG	Bahl & Gaynor Income Growth ETF	12.3	45	35	5.3	+0.8
IMTM	iShares MSCI Intl Momentum Factor ETF	12.3	30	50	6.8	+2.3
EVUS	iShares ESG Aware MSCI USA Value ETF	12.2	18	62	6.7	+2.2
SHRY	First Trust Bloomberg Shareholder Yield ETF	12.1	60	20	6.9	+2.4
DOL	WisdomTree International LargeCap Dividend Fund	12.1	48	32	7.7	+3.2
KOIN	Capital Link Global Fintech Leaders ETF	12.1	75	5	4.6	+0.1
SIXL	ETC 6 Meridian Low Beta Equity ETF	12.0	80	0	5.1	+0.6
MRAD	SmartETFs Advertising & Marketing Technology ETF	12.0	68	12	4.2	-0.3
BFOR	ALPS Barron's 400 ETF	12.0	65	15	6.6	+2.1
IWD	iShares Russell 1000 Value ETF	11.9	19	61	6.6	+2.1
PTF	Invesco Dorsey Wright Technology Momentum ETF	11.9	60	20	0.6	-3.9
IEV	iShares Europe ETF	11.8	67	13	6.1	+1.6
BLCN	Siren ETF Trust Siren Nasdaq NexGen Economy ETF	11.8	68	12	5.3	+0.8
FPAG	FPA Global Equity ETF	11.8	49	31	5.7	+1.2
JHMD	John Hancock Multifactor Developed International ETF	11.8	39	41	7.4	+2.9
IVLU	iShares MSCI Intl Value Factor ETF	11.8	30	50	10.6	+6.1
VSDA	VictoryShares Dividend Accelerator ETF	11.8	35	45	6.1	+1.6
DFND	Siren DIVCON Dividend Defender ETF	11.8	189	-109	3.9	-0.6
SOXX	iShares Semiconductor ETF	11.7	35	45	5.3	+0.8
FXL	First Trust Technology AlphaDEX Fund	11.7	61	19	4.1	-0.4
TPLE	Timothy Plan Us Large/Mid Cap Core Enhanced ETF	11.7	58	22	5.4	+0.9
FTXL	First Trust Nasdaq Semiconductor ETF	11.7	60	20	6.1	+1.6
TPLC	Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund	11.7	52	28	5.4	+0.9
VONV	Vanguard Russell 1000 Value ETF	11.7	8	72	6.7	+2.2
DUSA	Davis Select U.S. Equity ETF	11.6	61	19	7.2	+2.7
GDVD	R3 Global Dividend Growth ETF	11.5	88	-8	5.8	+1.3
SYNB	Putnam BioRevolution ETF	11.5	70	10	2.9	-1.6
DVOL	First Trust Dorsey Wright Momentum & Low Volatility ETF	11.5	60	20	4.4	-0.1
HART	IQ Healthy Hearts ETF	11.5	45	35	5.3	+0.8
FXD	First Trust Consumer Discretionary AlphaDEX Fund	11.4	61	19	5.0	+0.5
IWX	iShares Russell Top 200 Value ETF	11.3	20	60	6.5	+2.0
FCTR	First Trust Lunt U.S. Factor Rotation ETF	11.3	65	15	3.8	-0.7
DBEU	Xtrackers MSCI Europe Hedged Equity ETF	11.3	46	34	6.3	+1.8
ONEV	SPDR Russell 1000 Low Volatility Focus ETF	11.3	20	60	8.0	+3.5
RSPD	Invesco S&P 500 Equal Weight Consumer Discretionary ETF	11.2	40	40	4.3	-0.2
TDV	ProShares S&P Technology Dividend Aristocrats ETF	11.2	45	35	6.1	+1.6
TMFG	Motley Fool Global Opportunities ETF	11.2	85	-5	3.3	-1.2
AUSF	Global X Adaptive U.S. Factor ETF	11.2	27	53	9.0	+4.5
ISHP	First Trust Nasdaq Retail ETF	11.2	60	20	3.2	-1.4
FLEE	Franklin FTSE Europe ETF	11.1	9	71	6.8	+2.3
DWM	WisdomTree International Equity Fund	11.1	48	32	7.8	+3.3
FDEV	Fidelity International Multifactor ETF	11.1	18	62	7.5	+3.0
IEUR	iShares Core MSCI Europe ETF	11.1	11	69	-1.3	-5.8
DDWM	WisdomTree Dynamic Currency Hedged International Equity Fund	11.1	40	40	7.8	+3.3
LSAF	LeaderShares AlphaFactor US Core Equity ETF	11.0	75	5	6.7	+2.2
POWA	Invesco Bloomberg Pricing Power ETF	10.9	40	40	5.1	+0.6
VGK	Vanguard FTSE Europe ETF	10.8	11	69	6.8	+2.3
EFA	iShares MSCI EAFE ETF	10.8	35	45	6.4	+1.9
BBEU	JPMorgan BetaBuilders Europe ETF	10.8	9	71	6.7	+2.2
JAVA	JPMorgan Active Value ETF	10.7	44	36	6.3	+1.8
YALL	God Bless America ETF	10.7	65	15	3.6	-0.9
DIVI	Franklin International Core Dividend Tilt Index ETF	10.7	9	71	8.0	+3.5
DWLD	Davis Select Worldwide ETF	10.6	63	17	5.6	+1.1
RFEU	First Trust Riverfront Dynamic Europe ETF	10.6	83	-3	8.7	+4.2
KOMP	SPDR S&P Kensho New Economies Composite ETF	10.6	20	60	2.1	-2.4
QEFA	SPDR MSCI EAFE StrategicFactors ETF	10.6	30	50	6.8	+2.3
IDMO	Invesco S&P International Developed Momentum ETF	10.6	25	55	7.0	+2.5
MFDX	PIMCO RAFI Dynamic Multi-Factor International Equity ETF	10.6	39	41	7.6	+3.1
RTH	VanEck Retail ETF	10.5	35	45	6.0	+1.5
MOHR	Collaborative Investment Series Trust - Mohr Growth ETF	10.5	106	-26	2.9	-1.6
SMRI	Bushido Capital US Equity ETF	10.5	71	9	10.2	+5.7
DBEF	Xtrackers MSCI EAFE Hedged Equity ETF	10.5	36	44	6.4	+1.9
WTV	WisdomTree US Value Fund of Benef Interest	10.5	12	68	8.7	+4.2
EFV	iShares MSCI EAFE Value ETF	10.4	34	46	9.1	+4.6
ESGD	iShares ESG Aware MSCI EAFE ETF	10.4	20	60	6.3	+1.8
BKIE	BNY Mellon International Equity ETF	10.4	4	76	6.9	+2.4
PXF	Invesco FTSE RAFI Developed Markets ex-U.S. ETF	10.4	45	35	8.5	+4.0
FIVA	Fidelity International Value Factor ETF	10.4	18	62	9.3	+4.8
ETHO	Etho Climate Leadership U.S. ETF	10.4	47	33	4.1	-0.5
DIVB	iShares Core Dividend ETF	10.4	5	75	8.0	+3.5
GSID	Goldman Sachs MarketBeta International Equity ETF	10.3	20	60	6.7	+2.2
JIRE	JPMorgan International Research Enhanced Equity ETF	10.3	24	56	6.7	+2.2
TTAI	FCF International Quality ETF	10.3	59	21	7.4	+2.9
MOTE	VanEck Morningstar ESG Moat ETF	10.3	49	31	5.2	+0.7
REVS	Columbia Research Enhanced Value ETF	10.3	19	61	7.7	+3.2
IXJ	iShares Global Healthcare ETF	10.2	42	38	6.1	+1.6
FNDF	Schwab Fundamental International Large Co. Index ETF	10.2	25	55	9.1	+4.6
QMOM	Alpha Architect U.S. Quantitative Momentum ETF	10.0	39	41	4.9	+0.4
OND	ProShares On-Demand ETF	10.0	58	22	-2.5	-7.0
IDEV	iShares Core MSCI International Developed Markets ETF	10.0	4	76	6.7	+2.2
IEFA	iShares Core MSCI EAFE ETF	9.9	7	73	2.7	-1.8
IBUY	Amplify Online Retail ETF	9.8	65	15	1.8	-2.7
INTF	iShares International Equity Factor ETF	9.8	15	65	7.8	+3.3
SPEU	SPDR Portfolio Europe ETF	9.8	7	73	6.6	+2.1
PKW	Invesco Buyback Achievers ETF	9.7	62	18	7.1	+2.6
SPDW	SPDR Portfolio Developed World ex-US ETF	9.7	3	77	6.9	+2.4
IQIN	IQ 500 International ETF	9.7	25	55	8.8	+4.3
HFXI	IQ FTSE International Equity Currency Neutral ETF	9.7	20	60	6.8	+2.3
RFDI	First Trust Riverfront Dynamic Developed International ETF	9.7	83	-3	9.0	+4.5
JPIN	J.P. Morgan Diversified Return International Equity ETF	9.6	37	43	8.7	+4.2
RODM	Hartford Multifactor Developed Markets (ex-US) ETF	9.6	29	51	8.8	+4.3
VEA	Vanguard FTSE Developed Markets ETF	9.6	5	75	7.0	+2.5
GVLU	Gotham 1000 Value ETF	9.5	50	30	7.4	+2.9
RDVY	First Trust Rising Dividend Achievers ETF	9.5	50	30	9.6	+5.1
SCHF	Schwab International Equity ETF	9.5	6	74	7.0	+2.5
QDIV	Global X S&P 500 Quality Dividend ETF	9.5	20	60	8.6	+4.1
EBIZ	Global X E-Commerce ETF	9.5	50	30	1.2	-3.3
KNGZ	First Trust S&P 500 Diversified Dividend Aristocrats ETF	9.4	50	30	7.9	+3.4
IXP	iShares Global Comm Services ETF	9.4	42	38	5.3	+0.8
SPHB	Invesco S&P 500 High Beta ETF	9.4	25	55	5.0	+0.5
EFAX	SPDR MSCI EAFE Fossil Fuel Free ETF	9.3	20	60	6.3	+1.8
SPRX	Spear Alpha ETF	9.3	75	5	-0.5	-5.0
DIP	BTD Capital Fund	9.3	129	-49	5.0	+0.5
DJD	Invesco Dow Jones Industrial Average Dividend ETF	9.2	7	73	8.5	+4.0
IWP	iShares Russell Mid-Cap Growth ETF	9.1	23	57	3.8	-0.7
CEFA	Global X S&P Catholic Values Developed ex-US ETF	9.1	35	45	6.4	+1.9
QTUM	Defiance Quantum ETF	9.1	40	40	3.9	-0.6
DWMF	WisdomTree International Multifactor Fund	9.0	38	42	7.3	+2.8
FLQM	Franklin U.S. Mid Cap Multifactor Index ETF	9.0	30	50	8.0	+3.5
FVD	First Trust Value Line Dividend Index Fund	9.0	65	15	6.0	+1.5
CIL	VictoryShares International Volatility Wtd ETF	8.9	45	35	6.9	+2.4
VO	Vanguard Mid-Cap ETF	8.9	4	76	5.8	+1.3
CIZ	VictoryShares Developed Enhanced Volatility Wtd ETF	8.9	51	29	6.8	+2.3
CWI	SPDR MSCI ACWI ex-US ETF	8.9	30	50	6.8	+2.3
PSI	Invesco Semiconductors ETF	8.9	57	23	5.1	+0.6
VYMI	Vanguard International High Dividend Yield ETF	8.9	22	58	9.7	+5.2
EQUL	IQ Engender Equality ETF	8.8	45	35	6.8	+2.3
AIEQ	AI Powered Equity ETF	8.8	75	5	6.1	+1.6
IQSI	IQ Candriam International Equity ETF	8.8	15	65	6.4	+1.9
NXTG	First Trust Indxx NextG ETF	8.8	70	10	6.0	+1.5
IPDP	Dividend Performers ETF	8.8	122	-42	4.9	+0.4
VLUE	iShares MSCI USA Value Factor ETF	8.7	15	65	10.7	+6.2
ACWX	iShares MSCI ACWI ex U.S. ETF	8.6	34	46	6.7	+2.2
LCTD	BlackRock World ex U.S. Carbon Transition Readiness ETF	8.6	20	60	6.9	+2.4
SPGP	Invesco S&P 500 GARP ETF	8.5	34	46	8.5	+4.0
IMCB	iShares Morningstar Mid-Cap ETF	8.5	4	76	6.1	+1.6
SNPV	Xtrackers S&P 500 Value ESG ETF	8.5	15	65	6.8	+2.3
DFAI	Dimensional International Core Equity Market ETF	8.5	18	62	6.9	+2.4
DMXF	iShares ESG Advanced MSCI EAFE ETF	8.5	12	68	5.4	+0.9
XLC	Communication Services Select Sector SPDR Fund	8.5	9	71	6.8	+2.3
VOX	Vanguard Communication Services ETF	8.5	10	70	5.1	+0.6
FCOM	Fidelity MSCI Communication Services Index ETF	8.5	8	72	4.8	+0.3
DBAW	Xtrackers MSCI All World ex US Hedged Equity ETF	8.4	41	39	6.7	+2.2
BLES	Inspire Global Hope ETF	8.4	61	19	6.3	+1.8
BOTZ	Global X Robotics & Artificial Intelligence ETF	8.4	69	11	2.3	-2.2
MINV	Matthews Asia Innovators Active ETF	8.3	79	1	2.8	-1.7
DFIV	Dimensional International Value ETF	8.3	27	53	9.8	+5.3
PRAY	FIS Christian Stock Fund	8.3	69	11	5.9	+1.4
DIVS	SmartETFs Dividend Builder ETF	8.3	65	15	4.7	+0.2
QLVD	FlexShares Developed Markets ex-US Quality Low Volatility In	8.3	32	48	6.7	+2.2
GCOW	Pacer Global Cash Cows Dividend ETF	8.2	60	20	13.6	+9.1
ARKW	ARK Next Generation Internet ETF	8.2	87	-7	-2.9	-7.4
TINY	ProShares Nanotechnology ETF	8.2	58	22	1.9	-2.6
BLOK	Amplify Transformational Data Sharing ETF	8.2	75	5	1.1	-3.4
FEP	First Trust Europe AlphaDEX Fund	8.2	80	0	8.6	+4.1
DEW	WisdomTree Global High Dividend Fund	8.1	58	22	9.1	+4.6
AFMC	First Trust Active Factor Mid Cap ETF	8.1	65	15	7.5	+3.0
UIVM	VictoryShares International Value Momentum ETF	8.1	35	45	10.7	+6.2
IMCG	iShares Morningstar Mid-Cap Growth ETF	8.1	6	74	4.3	-0.2
VEU	Vanguard FTSE All-World ex-US Index Fund	8.1	8	72	7.2	+2.7
DFLV	Dimensional US Large Cap Value ETF	8.0	22	58	7.8	+3.3
EQAL	Invesco Russell 1000 Equal Weight ETF	8.0	20	60	6.0	+1.5
AESR	Anfield U.S. Equity Sector Rotation ETF	8.0	108	-28	4.4	-0.2
IBOT	Vaneck Robotics ETF	8.0	47	33	3.7	-0.8
XSW	SPDR S&P Software & Services ETF	7.9	35	45	2.9	-1.6
AGQI	First Trust Active Global Quality Income ETF	7.9	85	-5	5.8	+1.3
TLTD	FlexShares Morningstar Developed Markets ex-US Factor Tilt	7.9	39	41	7.3	+2.8
OEUR	ALPS O'Shares Europe Quality Dividend ETF	7.9	48	32	5.7	+1.2
VHT	Vanguard Health Care ETF	7.8	10	70	5.7	+1.2
CBSE	Clough Select Equity ETF	7.8	85	-5	-2.3	-6.8
IXUS	iShares Core MSCI Total International Stock ETF	7.8	7	73	6.9	+2.4
FHLC	Fidelity MSCI Health Care Index ETF	7.8	8	72	5.9	+1.4
KXI	iShares Global Consumer Staples ETF	7.8	41	39	5.6	+1.1
XLV	Health Care Select Sector SPDR Fund	7.8	9	71	7.1	+2.6
VXUS	Vanguard Total International Stock ETF	7.8	7	73	7.1	+2.6
MOAT	VanEck Morningstar Wide Moat ETF	7.8	46	34	6.3	+1.8
RSPC	Invesco S&P 500 Equal Weight Communication Services ETF	7.8	40	40	8.6	+4.1
FLOW	Global X U.S. Cash Flow Kings 100 ETF	7.7	25	55	11.1	+6.6
GAMR	Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T	7.7	75	5	5.2	+0.7
DTEC	ALPS Disruptive Technologies ETF	7.7	50	30	3.3	-1.2
HDAW	Xtrackers MSCI All World ex US High Dividend Yield Equity ET	7.6	20	60	10.7	+6.2
IWR	iShares Russell Midcap ETF	7.6	19	61	5.7	+1.2
IDHQ	Invesco S&P International Developed High Quality ETF	7.6	29	51	5.8	+1.3
NULV	Nuveen ESG Large-Cap Value ETF	7.6	26	54	7.1	+2.6
VOE	Vanguard Mid-Cap Value ETF	7.6	7	73	7.4	+2.9
SOCL	Global X Social Media ETF	7.5	65	15	-5.8	-10.3
FKU	First Trust United Kingdom AlphaDEX Fund	7.5	80	0	7.5	+3.0
RSPH	Invesco S&P 500 Equal Weight Health Care ETF	7.5	40	40	7.3	+2.8
JRNY	ALPS Global Travel Beneficiaries ETF	7.4	65	15	0.0	-4.5
EFAV	iShares MSCI EAFE Min Vol Factor ETF	7.4	22	58	6.2	+1.7
FSTA	FIDELITY COVINGTON TRUST MSCI CONSUMER STAPLES INDEX ETF	7.4	8	72	5.9	+1.4
SDY	SPDR S&P Dividend ETF	7.3	35	45	6.3	+1.8
IDAT	iShares Future Cloud 5G and Tech ETF	7.3	47	33	4.5	+0.0
JSTC	Adasina Social Justice All Cap Global ETF	7.3	89	-9	4.8	+0.3
FCLD	Fidelity Cloud Computing ETF	7.3	39	41	2.4	-2.1
IQLT	iShares MSCI Intl Quality Factor ETF	7.3	30	50	5.7	+1.2
EASG	Xtrackers MSCI EAFE ESG Leaders Equity ETF	7.3	14	66	6.2	+1.7
DIHP	Dimensional International High Profitability ETF	7.3	29	51	6.9	+2.4
FLGB	Franklin FTSE United Kingdom ETF	7.3	9	71	8.3	+3.8
PWV	Invesco Large Cap Value ETF	7.3	55	25	7.6	+3.1
EWU	iShares MSCI United Kingdom ETF	7.2	50	30	7.8	+3.3
MOTO	SmartETFs Smart Transportation & Technology ETF	7.2	68	12	6.6	+2.1
FXH	First Trust Health Care AlphaDEX Fund	7.1	62	18	7.1	+2.6
NETZ	TCW Transform Systems ETF	7.1	75	5	3.4	-1.1
DIVD	Altrius Global Dividend ETF Altrius Global Divid ETF	7.1	49	31	10.5	+6.0
EFG	iShares MSCI EAFE Growth ETF	7.1	36	44	4.1	-0.4
DFSI	Dimensional International Sustainability Core 1 ETF	7.1	24	56	6.2	+1.7
NUDM	Nuveen ESG International Developed Markets Equity ETF	7.1	31	49	6.4	+1.9
MBOX	Freedom Day Dividend ETF	7.1	39	41	7.7	+3.2
HDEF	Xtrackers MSCI EAFE High Dividend Yield Equity ETF	7.1	9	71	9.8	+5.3
SPVM	Invesco S&P 500 Value with Momentum ETF	7.1	39	41	8.4	+3.9
IQDF	FlexShares International Quality Dividend Index Fund	7.1	47	33	10.7	+6.2
XRT	SPDR S&P Retail ETF	7.0	35	45	8.8	+4.3
XLP	Consumer Staples Select Sector SPDR Fund	7.0	9	71	5.9	+1.4
RSPS	Invesco S&P 500 Equal Weight Consumer Staples ETF	7.0	40	40	6.8	+2.3
VDC	Vanguard Consumer Staples ETF	7.0	10	70	6.0	+1.5
EUDG	WisdomTree Europe Quality Dividend Growth Fund	7.0	58	22	6.0	+1.5
XITK	SPDR FactSet Innovative Technology ETF	7.0	45	35	2.7	-1.8
ESGS	Columbia U.S. ESG Equity Income ETF	7.0	35	45	6.3	+1.8
DFUV	Dimensional US Marketwide Value ETF	6.9	22	58	7.6	+3.1
JHMM	John Hancock Multifactor Mid Cap ETF	6.9	42	38	6.6	+2.1
COWZ	Pacer US Cash Cows 100 ETF	6.9	49	31	11.0	+6.5
DEEF	Xtrackers FTSE Developed ex US Multifactor ETF	6.9	24	56	8.6	+4.1
ISZE	iShares MSCI Intl Size Factor ETF	6.9	30	50	6.6	+2.1
PIZ	Invesco Dorsey Wright Developed Markets Momentum ETF	6.9	80	0	5.6	+1.1
IMCV	iShares Morningstar Mid-Cap Value ETF	6.9	6	74	7.9	+3.4
IYH	iShares U.S. Healthcare ETF	6.8	40	40	6.2	+1.7
DTH	WisdomTree International High Dividend Fund	6.8	58	22	10.1	+5.6
BMED	Future Health ETF	6.8	85	-5	0.2	-4.3
RODE	Hartford Multifactor Diversified International ETF	6.8	29	51	11.5	+7.0
VFVA	Vanguard U.S. Value Factor ETF	6.8	13	67	10.6	+6.1
IXG	iShares Global Financials ETF	6.8	42	38	6.8	+2.3
SQEW	LeaderShares Equity Skew ETF	6.8	81	-1	6.1	+1.6
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	6.7	24	56	8.0	+3.5
NOBL	ProShares S&P 500 Dividend Aristocrats ETF	6.7	35	45	6.0	+1.5
ESGN	Columbia International ESG Equity Income ETF	6.7	45	35	9.0	+4.5
VSGX	Vanguard ESG International Stock ETF	6.7	12	68	6.8	+2.3
COWS	Amplify Cash Flow Dividend Leaders ETF	6.7	0	80	10.6	+6.1
IBLC	iShares Blockchain and Tech ETF	6.7	47	33	-1.0	-5.5
VOT	Vanguard Mid-Cap Growth ETF	6.6	7	73	4.2	-0.3
CDC	VictoryShares US EQ Income Enhanced Volatility Wtd ETF	6.6	38	42	8.3	+3.8
CDL	VictoryShares US Large Cap High Dividend Volatility Wtd ETF	6.6	35	45	8.3	+3.8
DMDV	AAM S&P Developed Markets High Dividend Value ETF	6.6	39	41	12.7	+8.2
EXI	iShares Global Industrials ETF	6.6	42	38	4.7	+0.2
UDI	USCF Dividend Income Fund	6.6	65	15	7.4	+2.9
FDT	First Trust Developed Markets ex-US AlphaDEX Fund	6.5	80	0	10.8	+6.3
ARKF	ARK Fintech Innovation ETF	6.5	75	5	-2.2	-6.7
HAIL	SPDR S&P Kensho Smart Mobility ETF	6.5	45	35	-2.0	-6.5
VICE	AdvisorShares Vice ETF	6.4	99	-19	7.5	+3.0
CLOU	Global X Cloud Computing ETF	6.3	68	12	2.1	-2.5
USVT	US Value ETF	6.3	49	31	11.3	+6.8
NUDV	Nuveen ESG Dividend ETF	6.3	26	54	7.5	+3.0
AVIV	Avantis International Large Cap Value ETF	6.3	25	55	8.9	+4.4
FLDZ	RiverNorth Patriot ETF	6.3	75	5	5.8	+1.3
WWJD	Inspire International ETF	6.2	80	0	7.1	+2.6
SPDV	AAM S&P 500 High Dividend Value ETF	6.2	29	51	10.5	+6.0
FTA	First Trust Large Cap Value AlphaDEX Fund	6.2	59	21	8.2	+3.7
HDV	iShares Core High Dividend ETF	6.2	8	72	8.1	+3.6
ROBT	First Trust Nasdaq Artificial Intelligence & Robotics ETF	6.2	65	15	1.6	-2.9
DURA	VanEck Durable High Dividend ETF	6.2	29	51	7.3	+2.8
IPKW	Invesco International BuyBack Achievers ETF	6.2	55	25	9.1	+4.6
FTXH	First Trust Nasdaq Pharmaceuticals ETF	6.1	60	20	9.1	+4.6
TPIF	Timothy Plan International ETF	6.1	62	18	6.7	+2.2
ONLN	ProShares Online Retail ETF	6.0	58	22	3.1	-1.4
SNPD	Xtrackers S&P ESG Dividend Aristocrats ETF	6.0	15	65	7.0	+2.5
NBCC	Neuberger Berman Next Generation Connected Consumer ETF	6.0	56	24	1.7	-2.9
IYJ	iShares U.S. Industrials ETF	5.8	40	40	4.8	+0.3
EZU	iShares MSCI Eurozone ETF	5.7	52	28	6.2	+1.7
IQDG	WisdomTree International Quality Dividend Growth Fund	5.7	42	38	5.8	+1.3
BIBL	Inspire 100 ETF	5.7	35	45	4.8	+0.3
DFIC	Dimensional International Core Equity 2 ETF	5.7	23	57	7.4	+2.9
PZLD	Puzzle Divdend Leaders	5.7	0	80	7.5	+3.0
IGRO	iShares International Dividend Growth ETF	5.7	15	65	7.1	+2.6
FLEU	Franklin FTSE Eurozone ETF	5.6	9	71	6.7	+2.2
DBEZ	Xtrackers MSCI Eurozone Hedged Equity ETF	5.6	45	35	6.2	+1.7
XSD	SPDR S&P Semiconductor ETF	5.6	35	45	5.1	+0.6
IHDG	WisdomTree International Hedged Quality Dividend Growth Fund	5.6	58	22	5.6	+1.1
ICOW	Pacer Developed Markets International Cash Cows 100 ETF	5.6	65	15	12.8	+8.3
PINK	Simplify Health Care ETF	5.5	50	30	3.3	-1.2
UMMA	Wahed Dow Jones Islamic World ETF	5.5	65	15	4.3	-0.2
VAMO	Cambria Value & Momentum ETF	5.5	61	19	9.6	+5.1
KLDW	Knowledge Leaders Developed World ETF	5.5	75	5	4.9	+0.4
IWS	iShares Russell Mid-Cap Value ETF	5.4	23	57	6.6	+2.1
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastructure	5.4	58	22	4.6	+0.1
SCHM	Schwab U.S. Mid-Cap ETF	5.4	4	76	6.3	+1.8
TOLL	Tema Monopolies and Oligopolies ETF	5.4	75	5	2.6	-1.9
CLNR	IQ Cleaner Transport ETF	5.4	45	35	8.3	+3.8
DIVL	Madison Dividend Value ETF	5.3	65	15	6.1	+1.6
IMOM	Alpha Architect International Quantitative Momentum ETF	5.3	49	31	7.3	+2.8
WGMI	Valkyrie Bitcoin Miners ETF	5.3	75	5	-10.7	-15.2
RFG	Invesco S&P Midcap 400 Pure Growth ETF	5.3	35	45	5.7	+1.2
MAGA	Point Bridge America First ETF	5.3	72	8	6.3	+1.8
VIDI	Vident International Equity Strategy ETF	5.3	61	19	11.9	+7.4
RUNN	Running Oak Efficient Growth ETF	5.3	58	22	4.8	+0.3
EUDV	ProShares MSCI Europe Dividend Growers ETF	5.2	55	25	5.0	+0.5
FFTY	Innovator IBD 50 ETF	5.2	80	0	0.1	-4.4
IWFH	iShares Virtual Work and Life Multisector ETF	5.1	47	33	-3.5	-8.0
WDNA	WisdomTree BioRevolution Fund	5.1	45	35	-4.5	-9.0
EFAD	ProShares MSCI EAFE Dividend Growers ETF	5.0	50	30	5.1	+0.6
IXC	iShares Global Energy ETF	4.9	44	36	8.2	+3.7
VWID	Virtus WMC International Dividend ETF	4.9	49	31	9.4	+4.9
ARKQ	ARK Autonomous Technology & Robotics ETF	4.9	75	5	1.6	-2.9
MOTG	VanEck Morningstar Global Wide Moat ETF	4.9	52	28	5.8	+1.3
IYK	iShares U.S. Consumer Staples ETF	4.9	40	40	6.4	+1.9
AGNG	Global X Aging Population ETF	4.8	50	30	4.1	-0.4
VIGI	Vanguard International Dividend Appreciation ETF	4.8	15	65	5.6	+1.1
DHS	WisdomTree U.S. High Dividend Fund	4.8	38	42	8.8	+4.3
FAB	First Trust Multi Cap Value AlphaDEX Fund	4.8	67	13	9.2	+4.7
FEUZ	First Trust Eurozone AlphaDEX ETF	4.8	80	0	8.3	+3.8
IQDE	FlexShares International Quality Dividend Defensive Index ET	4.8	47	33	10.7	+6.2
TPHE	Timothy Plan High Dividend Stock Enhanced ETF	4.8	54	26	6.2	+1.7
FNCL	Fidelity MSCI Financials Index ETF	4.8	8	72	6.5	+2.0
TPHD	Timothy Plan High Dividend Stock ETF	4.7	52	28	6.2	+1.7
ARKX	ARK Space Exploration & Innovation ETF	4.7	75	5	1.7	-2.8
VFH	Vanguard Financials ETF	4.7	10	70	6.4	+1.9
AVDE	Avantis International Equity ETF	4.7	23	57	7.9	+3.4
QVAL	Alpha Architect US Quantitative Value ETF	4.7	39	41	11.1	+6.6
FEZ	SPDR EURO STOXX 50 ETF	4.7	29	51	6.2	+1.7
PPH	VanEck Pharmaceutical ETF	4.7	36	44	8.8	+4.3
DFAX	Dimensional World ex U.S. Core Equity 2 ETF	4.7	30	50	7.8	+3.3
AWAY	ETFMG Travel Tech ETF	4.7	76	4	-4.1	-8.6
AIVI	WisdomTree International AI Enhanced Value Fund	4.7	58	22	8.0	+3.5
RSPF	Invesco S&P 500 Equal Weight Financials ETF	4.6	40	40	7.1	+2.6
CGXU	Capital Group International Focus Equity ETF	4.6	54	26	4.1	-0.4
GNR	SPDR S&P Global Natural Resources ETF	4.6	40	40	9.2	+4.7
DVLU	First Trust Dorsey Wright Momentum & Value ETF	4.6	60	20	10.2	+5.7
AIVL	WisdomTree U.S. AI Enhanced Value Fund	4.6	38	42	6.7	+2.2
PJP	Invesco Pharmaceuticals ETF	4.5	57	23	7.4	+2.9
AHOY	Newday Ocean Health ETF	4.5	75	5	5.6	+1.1
CID	VictoryShares International High Div Volatility Wtd ETF	4.5	45	35	9.5	+5.0
DVY	iShares Select Dividend ETF	4.5	38	42	9.1	+4.6
GTEK	Goldman Sachs Future Tech Leaders Equity ETF	4.5	75	5	3.2	-1.3
SPHD	Invesco S&P 500 High Dividend Low Volatility ETF	4.5	30	50	9.1	+4.6
PAMC	Pacer Lunt MidCap Multi-Factor Alternator ETF	4.5	60	20	5.7	+1.2
RSPN	Invesco S&P 500 Equal Weight Industrials ETF	4.4	40	40	3.8	-0.7
CANC	Tema Oncology ETF	4.4	75	5	-4.4	-8.9
XLI	Industrial Select Sector SPDR Fund	4.4	9	71	4.4	-0.1
XLF	Financial Select Sector SPDR Fund	4.4	9	71	6.0	+1.5
PEZ	Invesco Dorsey Wright Consumer Cyclicals Momentum ETF	4.4	60	20	6.7	+2.2
OCEN	IQ Clean Oceans ETF	4.3	45	35	5.3	+0.8
MDLV	Morgan Dempsey Large Cap Value ETF	4.3	58	22	8.6	+4.1
LVHD	Franklin U.S. Low Volatility High Dividend Index ETF	4.3	27	53	8.4	+3.9
HDMV	First Trust Horizon Managed Volatility Developed Intl ETF	4.3	80	0	5.4	+0.9
HEDJ	WisdomTree Europe Hedged Equity Fund	4.3	58	22	8.4	+3.9
SCHD	Schwab US Dividend Equity ETF	4.2	6	74	9.6	+5.1
FDIV	MarketDesk Focused U.S. Dividend ETF	4.2	35	45	8.8	+4.3
BEDZ	AdvisorShares Hotel ETF	4.2	100	-20	2.9	-1.7
FILL	iShares MSCI Global Energy Producers ETF	4.2	39	41	9.0	+4.5
TMDV	ProShares Russell US Dividend Growers ETF	4.2	35	45	6.5	+2.0
DTCR	Global X Data Center & Digital Infrastructure ETF	4.2	50	30	2.7	-1.8
DSTX	Distillate International Fundamental Stability & Value ETF	4.2	55	25	8.0	+3.5
EWC	iShares MSCI Canada ETF	4.2	50	30	6.9	+2.4
SANE	Subversive Mental Health ETF	4.1	75	5	0.0	-4.5
DNL	WisdomTree Global ex-US Quality Dividend Growth Fund	4.1	42	38	6.8	+2.3
FICS	First Trust International Developed Capital Strength ETF	4.1	70	10	6.1	+1.6
GLIF	AGF Global Infrastructure ETF	4.1	45	35	5.5	+1.0
IQDY	FlexShares International Quality Dividend Dynamic Index Fund	4.1	47	33	10.3	+5.8
FXG	First Trust Consumer Staples AlphaDEX Fund	4.1	63	17	6.5	+2.0
IVOG	Vanguard S&P Mid-Cap 400 Growth ETF	4.1	15	65	6.4	+1.9
CVAR	Cultivar ETF	4.1	87	-7	6.9	+2.4
JIG	JPMorgan International Growth ETF	4.1	55	25	4.3	-0.2
VXF	Vanguard Extended Market ETF	4.0	6	74	3.9	-0.6
JETS	U.S. Global Jets ETF	4.0	60	20	-15.6	-20.1
FIDU	Fidelity MSCI Industrial Index ETF	4.0	8	72	4.7	+0.2
VIS	Vanguard Industrials ETF	4.0	10	70	4.5	-0.0
SAGP	Strategas Global Policy Opportunities ETF	3.9	65	15	4.5	+0.0
ROBO	ROBO Global Robotics & Automation Index ETF	3.9	95	-15	2.8	-1.7
FBCV	Fidelity Blue Chip Value ETF	3.9	59	21	7.1	+2.6
SATO	Invesco Alerian Galaxy Crypto Economy ETF	3.9	61	19	-13.0	-17.5
SNSR	Global X Internet of Things ETF	3.9	68	12	4.3	-0.2
XMMO	Invesco S&P MidCap Momentum ETF	3.9	34	46	5.1	+0.6
PEJ	Invesco Leisure and Entertainment ETF	3.9	58	22	0.4	-4.1
SPVU	Invesco S&P 500 Enhanced Value ETF	3.9	13	67	9.1	+4.6
MEDI	Harbor Health Care ETF	3.9	80	0	0.9	-3.6
BITQ	Bitwise Crypto Industry Innovators ETF	3.9	85	-5	-4.7	-9.2
FITE	SPDR S&P Kensho Future Security ETF	3.9	45	35	3.0	-1.5
HACK	ETFMG Prime Cyber Security ETFMG Prime Cyber Security Fund	3.9	60	20	3.8	-0.7
CIBR	First Trust NASDAQ Cybersecurity ETF	3.9	60	20	3.9	-0.6
FPXI	First Trust International Equity Opportunities ETF	3.9	70	10	3.6	-0.9
SRHQ	SRH U.S. Quality ETF	3.8	35	45	8.0	+3.5
SDOG	ALPS Sector Dividend Dogs ETF	3.8	36	44	9.5	+5.0
FIDI	Fidelity International High Dividend ETF	3.8	18	62	10.1	+5.6
VBK	Vanguard Small-Cap Growth ETF	3.8	7	73	1.5	-3.1
IDOG	ALPS International Sector Dividend Dogs ETF	3.8	50	30	11.6	+7.1
BOUT	Innovator IBD Breakout Opportunities ETF	3.8	81	-1	2.9	-1.6
BNE	Blue Horizon BNE ETF	3.7	87	-7	5.0	+0.5
RPV	Invesco S&P 500 Pure Value ETF	3.7	35	45	9.9	+5.4
IYG	iShares US Financial Services ETF	3.7	40	40	5.8	+1.3
STCE	Schwab Crypto Thematic ETF	3.7	30	50	-8.0	-12.5
BBCA	JPMorgan BetaBuilders Canada ETF	3.7	19	61	7.0	+2.5
PSL	Invesco Dorsey Wright Consumer Staples Momentum ETF	3.7	60	20	4.7	+0.2
USVM	VictoryShares US Small Mid Cap Value Momentum ETF	3.7	25	55	8.8	+4.3
ONEY	SPDR Russell 1000 Yield Focus ETF	3.7	20	60	10.0	+5.5
GUNR	FlexShares Morningstar Global Upstream Natural Resources Ind	3.6	46	34	8.8	+4.3
LVHI	Franklin International Low Volatility High Dividend Index ET	3.6	40	40	10.2	+5.7
TXS	Texas Capital Texas Equity Index ETF	3.6	49	31	5.6	+1.1
MEDX	Horizon Kinetics Medical ETF	3.6	85	-5	-0.2	-4.7
WCBR	WisdomTree Cybersecurity Fund	3.6	45	35	1.9	-2.6
SFYX	SoFi Next 500 ETF	3.6	0	80	5.6	+1.1
HOMZ	Hoya Capital Housing ETF	3.6	30	50	8.1	+3.6
XMHQ	Invesco S&P MidCap Quality ETF	3.6	25	55	7.0	+2.5
IDLV	Invesco S&P International Developed Low Volatility ETF	3.5	25	55	5.8	+1.3
ICAP	InfraCap Equity Income Fund ETF	3.5	171	-91	6.8	+2.3
DIM	WisdomTree International MidCap Dividend Fund	3.5	58	22	7.7	+3.2
BKMC	BNY Mellon US Mid Cap Core Equity ETF	3.5	4	76	6.1	+1.6
SPYD	SPDR Portfolio S&P 500 High Dividend ETF	3.4	7	73	9.4	+4.9
FLV	American Century Focused Large Cap Value ETF	3.4	42	38	6.5	+2.0
QQJG	Invesco ESG NASDAQ Next Gen 100 ETF	3.4	20	60	5.4	+0.9
QQQJ	Invesco NASDAQ Next Gen 100 ETF	3.4	15	65	4.7	+0.2
DIVZ	TrueShares Low Volatility Equity Income ETF	3.4	65	15	8.6	+4.1
FLCA	Franklin FTSE Canada ETF	3.3	9	71	7.2	+2.7
EPP	iShares MSCI Pacific ex-Japan ETF	3.3	47	33	5.4	+0.9
TMFX	Motley Fool Next Index ETF	3.3	50	30	3.4	-1.1
GERM	ETFMG Treatments Testing and Advancements ETF	3.3	68	12	-6.6	-11.1
FNY	First Trust Mid Cap Growth AlphaDEX Fund	3.2	70	10	1.8	-2.7
AMID	Argent Mid Cap ETF Argent Mid Cap ETF	3.2	52	28	7.0	+2.5
IPAC	iShares Core MSCI Pacific ETF	3.2	9	71	6.7	+2.2
JMEE	JPMorgan Market Expansion Enhanced Equity ETF	3.2	24	56	7.8	+3.3
IVOO	Vanguard S&P Mid-Cap 400 ETF	3.2	10	70	6.9	+2.4
RBLD	First Trust Alerian US NextGen Infrastructure ETF	3.2	65	15	5.1	+0.6
MDYG	SPDR S&P 400 Mid Cap Growth ETF	3.2	15	65	5.8	+1.3
IJK	iShares S&P Mid-Cap 400 Growth ETF	3.2	17	63	5.8	+1.3
NUMG	Nuveen ESG Mid-Cap Growth ETF	3.2	31	49	3.7	-0.8
SXUS	Janus Henderson International Sustainable Equity ETF	3.2	60	20	4.6	+0.1
GDOC	Goldman Sachs Future Health Care Equity ETF	3.2	75	5	3.2	-1.3
CRPT	First Trust SkyBridge Crypto Industry & Digital Economy ETF	3.2	85	-5	-0.9	-5.4
OMFL	Invesco Russell 1000 Dynamic Multifactor ETF	3.2	29	51	9.1	+4.6
XHS	SPDR S&P Health Care Services ETF	3.1	35	45	5.8	+1.3
FXR	First Trust Industrials/Producer Durables AlphaDEX Fund	3.1	61	19	6.2	+1.7
SMDY	Syntax Stratified MidCap ETF	3.1	35	45	6.3	+1.8
FDL	First Trust Morningstar Dividend Leaders Index Fund	3.1	45	35	9.7	+5.2
QQQN	VictoryShares Nasdaq Next 50 ETF	3.1	18	62	4.5	+0.0
ECML	Euclidean Fundamental Value ETF	3.1	95	-15	8.7	+4.2
PXI	Invesco Dorsey Wright Energy Momentum ETF	3.1	60	20	7.2	+2.7
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	3.1	20	60	4.5	+0.0
IHAK	iShares Cybersecurity & Tech ETF	3.0	47	33	3.2	-1.3
JHID	John Hancock International High Dividend ETF	2.9	46	34	11.5	+7.0
SMMD	iShares Russell 2500 ETF	2.9	15	65	6.0	+1.5
WCLD	WisdomTree Cloud Computing Fund	2.9	45	35	1.5	-3.0
IYF	iShares U.S. Financials ETF	2.9	40	40	6.3	+1.8
XPH	SPDR S&P Pharmaceuticals ETF	2.9	35	45	5.1	+0.6
IHE	iShares U.S. Pharmaceuticals ETF	2.9	40	40	8.3	+3.8
FPXE	First Trust IPOX Europe Equity Opportunities ETF	2.9	70	10	4.6	+0.1
PTH	Invesco Dorsey Wright Healthcare Momentum ETF	2.8	60	20	-3.6	-8.1
VPL	Vanguard FTSE Pacific ETF	2.8	8	72	7.0	+2.5
ROYA	Tema Global Royalties ETF	2.8	75	5	4.6	+0.1
UPGD	Invesco Bloomberg Analyst Rating Improvers ETF	2.8	40	40	6.0	+1.5
BBMC	JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	2.8	7	73	5.7	+1.2
WCEO	Hypatia Women CEO ETF	2.8	85	-5	5.2	+0.7
SMOT	VanEck Morningstar SMID Moat ETF	2.8	49	31	6.3	+1.8
EWL	iShares MSCI Switzerland ETF	2.7	50	30	4.1	-0.4
FLSW	Franklin FTSE Switzerland ETF	2.7	9	71	5.1	+0.6
VB	Vanguard Small-Cap ETF	2.7	5	75	5.4	+0.9
GSJY	Goldman Sachs ActiveBeta Japan Equity ETF	2.7	25	55	7.7	+3.2
SPAM	Themes Cybersecurity ETF	2.7	35	45	2.0	-2.6
BUG	Global X Cybersecurity ETF	2.7	51	29	2.4	-2.1
SDVY	First Trust SMID Cap Rising Dividend Achievers ETF	2.7	60	20	9.5	+5.0
IQSM	IQ Candriam U.S. Mid Cap Equity ETF	2.7	15	65	6.3	+1.8
QVMM	Invesco S&P MidCap 400 QVM Multi-factor ETF	2.6	15	65	7.1	+2.6
IDGT	iShares U.S. Digital Infrastructure and Real Estate ETF	2.6	41	39	8.8	+4.3
DDIV	First Trust Dorsey Wright Momentum & Dividend ETF	2.6	60	20	7.7	+3.2
DBJP	Xtrackers MSCI Japan Hedged Equity ETF	2.6	47	33	6.6	+2.1
BBAX	JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF	2.6	19	61	5.8	+1.3
EUFN	iShares MSCI Europe Financials ETF	2.6	51	29	8.1	+3.6
SMLF	iShares U.S. SmallCap Equity Factor ETF	2.6	15	65	5.8	+1.3
EFAS	Global X MSCI SuperDividend EAFE ETF	2.6	57	23	9.7	+5.2
AFSM	First Trust Active Factor Small Cap ETF	2.6	75	5	7.6	+3.1
EWJ	iShares MSCI Japan ETF	2.6	50	30	6.7	+2.2
MDY	SPDR S&P Midcap 400 ETF Trust	2.5	23	57	6.8	+2.3
XBI	SPDR S&P BIOTECH ETF	2.5	35	45	-1.4	-5.9
BBJP	JPMorgan BetaBuilders Japan ETF	2.5	19	61	7.1	+2.6
IJH	iShares Core S&P Mid-Cap ETF	2.5	5	75	6.9	+2.4
SPMD	SPDR Portfolio S&P 400 Mid Cap ETF	2.5	3	77	7.0	+2.5
FSMD	Fidelity Small-Mid Multifactor ETF	2.5	15	65	7.6	+3.1
PFI	Invesco Dorsey Wright Financial Momentum ETF	2.5	60	20	6.2	+1.7
FPX	First Trust US Equity Opportunities ETF	2.5	61	19	0.6	-3.9
HELX	Franklin Genomic Advancements ETF	2.4	50	30	1.7	-2.8
IDV	iShares International Select Dividend ETF	2.4	51	29	12.3	+7.8
SDG	iShares MSCI Global Sustainable Development Goals ETF	2.4	49	31	5.8	+1.3
MMSC	First Trust Multi-Manager Small Cap Opportunities ETF	2.4	95	-15	1.7	-2.8
GRPM	Invesco S&P MidCap 400 GARP ETF	2.4	35	45	9.9	+5.4
AADR	AdvisorShares Dorsey Wright ADR ETF	2.4	110	-30	5.4	+0.9
FLJP	Franklin FTSE Japan ETF	2.4	9	71	7.1	+2.6
FJP	First Trust Japan AlphaDEX Fund	2.4	80	0	10.1	+5.6
JPXN	iShares JPX-Nikkei 400 ETF	2.4	48	32	7.5	+3.0
FXO	First Trust Financials AlphaDEX Fund	2.4	62	18	9.2	+4.7
FYC	First Trust Small Cap Growth AlphaDEX Fund	2.4	71	9	0.9	-3.6
DXJ	WisdomTree Japan Hedged Equity Fund	2.4	48	32	7.7	+3.2
FYLD	Cambria Foreign Shareholder Yield ETF	2.4	59	21	12.0	+7.5
FLJH	Franklin FTSE Japan Hedged ETF	2.3	9	71	6.9	+2.4
KCAL	Subversive Food Security ETF	2.3	75	5	0.0	-4.5
LOUP	Innovator Deepwater Frontier Tech ETF	2.3	70	10	2.3	-2.2
ISCF	iShares International SmallCap Equity Factor ETF	2.3	23	57	8.8	+4.3
RZG	Invesco S&P Smallcap 600 Pure Growth ETF	2.3	35	45	7.2	+2.7
FDTS	First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	2.3	80	0	11.0	+6.5
EWN	iShares MSCI Netherlands ETF	2.3	50	30	4.7	+0.2
XMLV	Invesco S&P MidCap Low Volatility ETF	2.3	25	55	6.8	+2.3
SCHY	Schwab International Dividend Equity ETF	2.3	14	66	9.3	+4.8
LUXX	Roundhill S&P Global Luxury ETF	2.3	45	35	2.7	-1.8
RWK	Invesco S&P MidCap 400 Revenue ETF	2.2	39	41	8.7	+4.2
IDNA	iShares Genomics Immunology and Healthcare ETF	2.2	47	33	-5.2	-9.7
FDIG	Fidelity Crypto Industry and Digital Payments ETF	2.2	39	41	-1.3	-5.8
IPAY	ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund	2.2	75	5	5.4	+0.9
OUSM	ALPS O'Shares US Small-Cap Quality Dividend ETF	2.2	48	32	5.6	+1.1
OSEA	Harbor International Compounders ETF	2.2	55	25	3.7	-0.8
FPA	First Trust Asia Pacific ex-Japan AlphaDEX Fund	2.2	80	0	10.0	+5.5
XJH	iShares ESG Screened S&P Mid-Cap ETF	2.2	12	68	6.8	+2.3
FIXT	Procure Disaster Recovery Strategy ETF	2.2	75	5	5.7	+1.2
MDCP	VictoryShares THB Mid Cap ESG ETF	2.2	55	25	5.3	+0.8
CGRO	CoreValues Alpha Greater China Growth ETF	2.2	75	5	2.6	-1.9
WBAT	WisdomTree Battery Value Chain and Innovation Fund	2.2	45	35	4.9	+0.4
BKCH	Global X Blockchain ETF	2.2	50	30	-5.2	-9.7
IMFL	Invesco International Developed Dynamic Multifactor ETF	2.1	34	46	10.6	+6.1
IVAL	Alpha Architect International Quantitative Value ETF	2.1	49	31	5.8	+1.3
DON	WisdomTree U.S. MidCap Dividend Fund	2.1	38	42	8.6	+4.1
ISCG	iShares Morningstar Small-Cap Growth ETF	2.1	6	74	2.5	-2.1
HSMV	First Trust Horizon Managed Volatility Small/Mid ETF	2.1	80	0	6.5	+2.0
FSZ	First Trust Switzerland AlphaDEX Fund	2.1	80	0	4.1	-0.4
DIVY	Sound Equity Dividend Income ETF	2.1	45	35	10.5	+6.0
FENY	Fidelity MSCI Energy Index ETF	2.1	8	72	6.8	+2.3
FTXN	First Trust Nasdaq Oil & Gas ETF	2.0	60	20	7.1	+2.6
FTIF	First Trust Bloomberg Inflation Sensitive Equity ETF	2.0	60	20	8.0	+3.5
DIV	Global X SuperDividend US ETF	2.0	45	35	7.8	+3.3
VDE	Vanguard Energy ETF	2.0	10	70	6.8	+2.3
WDIV	SPDR S&P Global Dividend ETF	2.0	40	40	10.2	+5.7
PXJ	Invesco Oil & Gas Services ETF	2.0	63	17	2.8	-1.7
IEZ	iShares U.S. Oil Equipment & Services ETF	2.0	40	40	2.3	-2.2
XES	SPDR S&P Oil & Gas Equipment & Services ETF	2.0	35	45	-0.9	-5.4
KBWP	Invesco KBW Property & Casualty Insurance ETF	2.0	35	45	5.9	+1.4
HAP	VanEck Natural Resources ETF	2.0	50	30	9.5	+5.0
FNDC	Schwab Fundamental International Small Co. Index ETF	2.0	39	41	6.9	+2.4
EMQQ	EMQQ The Emerging Markets Internet & Ecommerce ETF	2.0	86	-6	1.9	-2.6
EMFQ	Amplify Emerging Markets FinTech ETF	2.0	69	11	5.4	+0.9
FMQQ	FMQQ The Next Frontier Internet & Ecommerce ETF	2.0	86	-6	1.9	-2.6
FNX	First Trust Mid Cap Core AlphaDEX Fund	2.0	60	20	6.0	+1.5
BPAY	BlackRock Future Financial and Technology ETF	2.0	70	10	8.3	+3.8
ARKK	ARK Innovation ETF	2.0	75	5	-4.9	-9.4
AVDV	Avantis International Small Cap Value ETF	1.9	36	44	8.0	+3.5
EQRR	ProShares Equities for Rising Rates ETF	1.9	35	45	7.8	+3.3
ARGT	Global X MSCI Argentina ETF	1.9	59	21	7.4	+2.9
ADIV	SmartETFs Asia Pacific Dividend Builder ETF	1.9	78	2	8.8	+4.3
NUSC	Nuveen ESG Small-Cap ETF	1.9	31	49	5.2	+0.7
IGE	iShares North American Natural Resources ETF	1.9	41	39	6.4	+1.9
IEUS	iShares MSCI Europe Small-Cap ETF	1.8	42	38	0.0	-4.5
GVAL	Cambria Global Value ETF	1.8	68	12	12.3	+7.8
FBT	First Trust NYSE Arca Biotechnology Index Fund	1.8	56	24	0.1	-4.5
IBBQ	Invesco Nasdaq Biotechnology ETF	1.8	19	61	0.9	-3.6
BBP	Virtus LifeSci Biotech Products ETF	1.8	79	1	-4.8	-9.3
PBE	Invesco Biotechnology & Genome ETF	1.8	58	22	0.7	-3.9
IBB	iShares Biotechnology ETF	1.8	45	35	0.9	-3.6
FID	First Trust S&P International Dividend Aristocrats ETF	1.8	60	20	9.8	+5.3
XSMO	Invesco S&P SmallCap Momentum ETF	1.8	39	41	7.8	+3.3
EWA	iShares MSCI Australia ETF	1.8	50	30	5.3	+0.8
FDNI	First Trust Dow Jones International Internet ETF	1.7	65	15	2.8	-1.7
CAFG	Pacer US Small Cap Cash Cows Growth Leaders ETF	1.7	59	21	8.5	+4.0
EWJV	iShares MSCI Japan Value ETF	1.7	15	65	9.0	+4.5
NVIR	Horizon Kinetics Energy and Remediation ETF	1.7	85	-5	1.9	-2.6
KIE	SPDR S&P Insurance ETF	1.7	35	45	6.7	+2.2
ABEQ	Absolute Select Value ETF	1.7	85	-5	4.7	+0.2
FLAU	Franklin FTSE Australia ETF	1.7	9	71	5.8	+1.3
INFL	Horizon Kinetics Inflation Beneficiaries ETF	1.7	85	-5	4.9	+0.4
PRFZ	Invesco FTSE RAFI US 1500 Small-Mid ETF	1.7	39	41	4.5	+0.0
FDD	First Trust Stoxx European Select Dividend Index Fund	1.7	58	22	12.9	+8.4
BKCI	BNY Mellon Concentrated International ETF	1.7	80	0	5.2	+0.7
EWUS	iShares MSCI United Kingdom Small Cap ETF	1.7	59	21	6.2	+1.7
FNDA	Schwab Fundamental US Small Co. Index ETF	1.7	25	55	6.8	+2.3
DAT	ProShares Big Data Refiners ETF	1.6	58	22	1.4	-3.1
EWI	iShares MSCI Italy ETF	1.6	50	30	8.2	+3.7
FSMO	Fidelity Small-Mid Cap Opportunities ETF	1.6	60	20	6.7	+2.2
AVUV	Avantis U.S. Small Cap Value ETF	1.6	25	55	10.0	+5.5
DFRA	Donoghue Forlines Yield Enhanced Real Asset ETF	1.6	69	11	8.3	+3.8
BSVO	EA Bridgeway Omni Small-Cap Value ETF	1.6	47	33	9.8	+5.3
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	1.6	40	40	5.5	+1.0
KCE	SPDR S&P Capital Markets ETF	1.6	35	45	7.2	+2.7
JHSC	John Hancock Multifactor Small Cap ETF	1.6	42	38	6.2	+1.7
BRAZ	Global X Brazil Active ETF	1.6	75	5	10.3	+5.8
KEMQ	KraneShares Emerging Markets Consumer Technology Index ETF	1.6	60	20	0.9	-3.6
PSC	Principal U.S. Small-Cap ETF	1.6	38	42	6.6	+2.1
ROSC	Hartford Multifactor Small Cap ETF	1.6	34	46	10.1	+5.6
PEY	Invesco High Yield Equity Dividend Achievers ETF	1.6	52	28	9.4	+4.9
SIMS	SPDR S&P Kensho Intelligent Structures ETF	1.6	45	35	-3.3	-7.8
EZM	WisdomTree U.S. MidCap Fund	1.6	38	42	8.1	+3.6
DFE	WisdomTree Europe SmallCap Dividend Fund	1.6	58	22	10.9	+6.4
IYE	iShares U.S. Energy ETF	1.6	40	40	6.5	+2.0
FXN	First Trust Energy AlphaDEX Fund	1.6	62	18	3.4	-1.1
EMLP	First Trust North American Energy Infrastructure Fund	1.5	95	-15	5.4	+0.9
ECLN	First Trust EIP Carbon Impact ETF	1.5	96	-16	5.3	+0.8
EWQ	iShares MSCI France ETF	1.5	53	27	5.4	+0.9
MIDE	Xtrackers S&P MidCap 400 ESG ETF	1.5	15	65	7.4	+2.9
TEMP	JPMorgan Climate Change Solutions ETF	1.5	49	31	4.7	+0.2
SYLD	Cambria Shareholder Yield ETF	1.5	59	21	11.5	+7.0
VSS	Vanguard FTSE All-World ex-US Small-Cap ETF	1.5	7	73	6.5	+2.0
XSVM	Invesco S&P SmallCap Value with Momentum ETF	1.5	36	44	11.1	+6.6
FLHK	Franklin FTSE Hong Kong ETF	1.5	9	71	7.4	+2.9
BJK	VanEck Gaming ETF	1.5	65	15	1.8	-2.7
EATZ	AdvisorShares Restaurant ETF	1.5	101	-21	2.7	-1.9
RNMC	First Trust Mid Cap US Equity Select ETF	1.5	60	20	7.9	+3.4
ISMD	Inspire Small/Mid Cap ETF	1.5	54	26	6.1	+1.6
EWG	iShares MSCI Germany ETF	1.5	50	30	6.5	+2.0
DBGR	Xtrackers MSCI Germany Hedged Equity ETF	1.5	45	35	6.4	+1.9
FLGR	Franklin FTSE Germany ETF	1.5	9	71	7.1	+2.6
FGM	First Trust Germany AlphaDEX Fund	1.5	80	0	9.2	+4.7
EMC	Global X Emerging Markets Great Consumer ETF	1.4	75	5	4.9	+0.4
NUMV	Nuveen ESG Mid-Cap Value ETF	1.4	31	49	7.4	+2.9
MEM	Matthews Emerging Markets Equity Active ETF	1.4	79	1	5.7	+1.2
SEA	U.S. Global Sea to Sky Cargo ETF	1.4	60	20	24.1	+19.6
CRUZ	Defiance Hotel Airline and Cruise ETF	1.4	45	35	-4.9	-9.4
IHF	iShares U.S. Healthcare Providers ETF	1.4	40	40	6.0	+1.5
IVOV	Vanguard S&P Mid-Cap 400 Value ETF	1.4	15	65	7.6	+3.1
CGV	Conductor Global Equity Value ETF	1.4	130	-50	11.3	+6.8
CNCR	Range Cancer Therapeutics ETF	1.4	79	1	-32.7	-37.2
TPSC	Timothy Plan US Small Cap Core ETF	1.4	52	28	7.6	+3.1
DISV	Dimensional International Small Cap Value ETF	1.3	42	38	9.2	+4.7
XHB	SPDR S&P Homebuilders ETF	1.3	35	45	8.6	+4.1
EUSC	WisdomTree Europe Hedged SmallCap Equity Fund	1.3	58	22	9.1	+4.6
DFIS	Dimensional International Small Cap ETF	1.3	39	41	6.7	+2.2
TOLZ	ProShares DJ Brookfield Global Infrastructure ETF	1.3	46	34	5.6	+1.1
DWX	SPDR S&P International Dividend ETF	1.3	45	35	7.1	+2.6
CSML	IndexIQ ETF Trust IQ U.S. Small Cap ETF	1.3	35	45	5.4	+0.9
DFAS	Dimensional U.S. Small Cap ETF	1.3	26	54	6.0	+1.5
IAK	iShares U.S. Insurance ETF	1.3	40	40	6.3	+1.8
CSF	VictoryShares US Discovery Enhanced Volatility Wtd ETF	1.3	42	38	7.5	+3.0
CSA	VictoryShares US Small Cap Volatility Wtd ETF	1.3	35	45	7.6	+3.1
AMZA	InfraCap MLP ETF	1.3	164	-84	3.3	-1.2
ISCB	iShares Morningstar Small-Cap ETF	1.3	4	76	5.3	+0.8
CZA	Invesco Zacks Mid-Cap ETF	1.3	72	8	6.3	+1.8
XMVM	Invesco S&P MidCap Value with Momentum ETF	1.3	39	41	10.8	+6.3
SCHC	Schwab International Small-Cap Equity ETF	1.3	11	69	6.4	+1.9
FYX	First Trust Small Cap Core AlphaDEX Fund	1.3	61	19	7.2	+2.7
IGF	iShares Global Infrastructure ETF	1.3	41	39	5.0	+0.5
GII	SPDR S&P Global Infrastructure ETF	1.3	40	40	5.0	+0.5
BCDF	Horizon Kinetics Blockchain Development ETF	1.3	85	-5	-0.7	-5.2
EWD	iShares MSCI Sweden ETF	1.2	54	26	6.0	+1.5
DAX	Global X DAX Germany ETF	1.2	21	59	6.9	+2.4
AVSC	Avantis U.S Small Cap Equity ETF	1.2	25	55	5.4	+0.9
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	1.2	47	33	5.9	+1.4
BBH	VanEck Biotech ETF	1.2	35	45	5.2	+0.7
GNOM	Global X Genomics & Biotechnology ETF	1.2	50	30	-5.4	-9.9
TINT	ProShares Smart Materials ETF	1.2	58	22	5.6	+1.1
LUX	Tema Luxury ETF	1.2	75	5	3.3	-1.2
MOTI	VanEck Morningstar International Moat ETF	1.2	58	22	6.9	+2.4
CWS	AdvisorShares Focused Equity ETF	1.2	84	-4	4.8	+0.3
FGD	First Trust Dow Jones Global Select Dividend Index Fund	1.2	56	24	13.9	+9.4
DVYA	iShares Asia/Pacific Dividend ETF	1.2	49	31	9.1	+4.6
VBR	Vanguard Small Cap Value ETF	1.2	7	73	8.2	+3.7
VTWG	Vanguard Russell 2000 Growth ETF	1.2	15	65	1.7	-2.8
PYZ	Invesco Dorsey Wright Basic Materials Momentum ETF	1.1	60	20	8.0	+3.5
FXZ	First Trust Materials AlphaDEX Fund	1.1	61	19	10.2	+5.7
DRLL	Strive U.S. Energy ETF	1.1	41	39	6.4	+1.9
ZIG	Acquirers Fund	1.1	84	-4	14.1	+9.6
IWO	iShares Russell 2000 Growth ETF	1.1	24	56	1.4	-3.1
ENOR	iShares MSCI Norway ETF	1.1	53	27	7.6	+3.1
ESPO	VanEck Video Gaming and eSports ETF	1.1	56	24	4.5	-0.0
HERO	Global X Video Games & Esports ETF	1.1	50	30	5.1	+0.6
NERD	Roundhill Video Games ETF	1.1	50	30	8.0	+3.5
ODDS	Pacer BlueStar Digital Entertainment ETF	1.1	60	20	3.0	-1.5
NORW	Global X MSCI Norway ETF	1.1	50	30	7.5	+3.0
FTXG	First Trust Nasdaq Food & Beverage ETF	1.1	60	20	6.3	+1.8
IVRA	Invesco Real Assets ESG ETF	1.1	59	21	7.1	+2.6
TPYP	Tortoise North American Pipeline Fund	1.1	40	40	5.3	+0.8
UMI	USCF Midstream Energy Income Fund ETF	1.1	85	-5	4.5	-0.0
USAI	Pacer American Energy Independence ETF	1.1	75	5	4.1	-0.4
EINC	VanEck Energy Income ETF	1.1	48	32	4.5	0.0
NBCT	Neuberger Berman Carbon Transition Infrastructure ETF	1.1	55	25	3.6	-0.9
ENFR	Alerian Energy Infrastructure ETF	1.1	35	45	4.8	+0.3
MLPX	Global X MLP & Energy Infrastructure ETF	1.1	45	35	4.7	+0.2
FLQS	Franklin U.S. Small Cap Multifactor Index ETF	1.1	35	45	7.5	+3.0
PKB	Invesco Building & Construction ETF	1.1	62	18	7.7	+3.2
ITB	iShares U.S. Home Construction ETF	1.1	40	40	10.8	+6.3
DSMC	Distillate Small/Mid Cash Flow ETF	1.1	55	25	11.8	+7.3
SMIG	AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF	1.1	60	20	6.4	+1.9
SDIV	Global X Superdividend ETF	1.1	58	22	17.6	+13.1
BOAT	SonicShares Global Shipping ETF	1.1	69	11	29.1	+24.6
EWH	iShares MSCI Hong Kong ETF	1.0	50	30	7.0	+2.5
SLYG	SPDR S&P 600 Small Cap Growth ETF	1.0	15	65	7.1	+2.6
IJT	iShares S&P Small-Cap 600 Growth ETF	1.0	18	62	7.0	+2.5
SCZ	iShares MSCI EAFE Small-Cap ETF	1.0	40	40	0.0	-4.5
PBJ	Invesco Food & Beverage ETF	1.0	57	23	5.4	+0.9
GSSC	Goldman Sachs Activebeta U.S. Small Cap Equity ETF	1.0	20	60	6.7	+2.2
PSCT	Invesco S&P SmallCap Information Technology ETF	1.0	29	51	6.5	+2.0
SCHA	Schwab U.S. Small-Cap ETF	1.0	4	76	4.9	+0.4
PAWZ	ProShares Pet Care ETF	1.0	50	30	4.0	-0.5
PTEC	Global X PropTech ETF	1.0	50	30	1.7	-2.9
XSHQ	Invesco S&P SmallCap Quality ETF	1.0	29	51	10.1	+5.6
RSPG	Invesco S&P 500 Equal Weight Energy ETF	1.0	40	40	7.2	+2.7
XLE	Energy Select Sector SPDR Fund	1.0	9	71	6.9	+2.4
IFRA	iShares U.S. Infrastructure ETF	1.0	30	50	6.3	+1.8
IYZ	iShares U.S. Telecommunications ETF	0.9	40	40	8.3	+3.8
EMM	Global X Emerging Markets ex-China ETF	0.9	75	5	3.7	-0.8
DFNL	Davis Select Financial ETF	0.9	63	17	6.8	+2.3
SMCP	AlphaMark Actively Managed Small Cap ETF	0.9	90	-10	6.8	+2.3
KONG	Formidable Fortress ETF	0.9	89	-9	6.2	+1.7
FTWO	Strive FAANG 2.0 ETF	0.8	49	31	4.7	+0.2
IVES	Wedbush ETFMG Global Cloud Technology ETF	0.8	68	12	1.4	-3.1
RNSC	Furst Trust Small Cap US Equity Select ETF	0.8	60	20	8.4	+3.9
SVAL	iShares US Small Cap Value Factor ETF	0.8	20	60	11.4	+6.9
WBIY	WBI Power Factor High Dividend ETF	0.8	100	-20	11.0	+6.5
TOKE	Cambria Cannabis ETF	0.8	42	38	-6.2	-10.7
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	0.8	17	63	5.4	+0.9
GREI	Goldman Sachs Future Real Estate and Infrastructure Equity E	0.8	75	5	4.9	+0.4
MXI	iShares Global Materials ETF	0.8	41	39	6.6	+2.1
PICK	iShares MSCI Global Metals & Mining Producers ETF	0.8	39	41	11.0	+6.5
VIOG	Vanguard S&P Small-Cap 600 Growth ETF	0.8	15	65	6.9	+2.4
GLRY	Inspire Faithward Mid Cap Momentum ETF	0.8	80	0	8.0	+3.5
OSCV	Opus Small Cap Value ETF	0.8	79	1	6.4	+1.9
XTL	SPDR S&P Telecom ETF	0.8	35	45	6.6	+2.1
QQQS	Invesco NASDAQ Future Gen 200 ETF	0.8	20	60	-7.8	-12.3
OMFS	Invesco Russell 2000 Dynamic Multifactor ETF	0.8	39	41	8.9	+4.4
CRAK	VanEck Oil Refiners ETF	0.8	61	19	13.1	+8.6
VNMC	Natixis Vaughan Nelson Mid Cap ETF	0.8	85	-5	4.4	-0.1
XSLV	Invesco S&P SmallCap Low Volatility ETF	0.8	25	55	6.9	+2.4
SSLY	Syntax Stratified SmallCap ETF	0.8	40	40	7.5	+3.0
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ETF	0.8	33	47	7.2	+2.7
SHPP	Pacer Industrials and Logistics ETF	0.8	60	20	8.9	+4.4
EDEN	iShares MSCI Denmark ETF	0.8	53	27	6.2	+1.7
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	0.8	49	31	6.7	+2.2
WTRE	WisdomTree New Economy Real Estate Fund	0.8	58	22	5.0	+0.5
EWS	iShares MSCI Singapore ETF	0.8	50	30	4.0	-0.5
NDIV	Amplify Natural Resources Dividend Income ETF	0.7	59	21	9.7	+5.2
IDX	VanEck Indonesia Index ETF	0.7	57	23	7.9	+3.4
RWJ	Invesco S&P SmallCap 600 Revenue ETF	0.7	39	41	9.4	+4.9
CALF	Pacer US Small Cap Cash Cows 100 ETF	0.7	59	21	11.1	+6.6
DEEP	Roundhill Acquirers Deep Value ETF	0.7	80	0	15.3	+10.8
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	0.7	29	51	7.4	+2.9
VTWO	Vanguard Russell 2000 ETF	0.7	10	70	3.9	-0.6
QVMS	Invesco S&P SmallCap 600 QVM Multi-factor ETF	0.7	15	65	8.2	+3.7
PSCD	Invesco S&P SmallCap Consumer Discretionary ETF	0.7	29	51	10.9	+6.4
IWM	iShares Russell 2000 ETF	0.7	19	61	3.6	-0.9
DFAT	Dimensional U.S. Targeted Value ETF	0.7	28	52	8.2	+3.7
BULD	Pacer BlueStar Engineering the Future ETF	0.7	60	20	1.2	-3.3
GCLN	Goldman Sachs Bloomberg Clean Energy Equity ETF	0.7	45	35	6.2	+1.7
DLS	WisdomTree International SmallCap Dividend Fund	0.7	58	22	8.8	+4.3
BBSC	JPMorgan BetaBuilders U.S. Small Cap Equity ETF	0.7	9	71	4.0	-0.5
VIOO	Vanguard S&P Small-Cap 600 ETF	0.7	10	70	7.8	+3.3
IZRL	ARK Israel Innovative Technology ETF	0.6	49	31	1.5	-3.0
ISRA	VanEck Israel ETF	0.6	59	21	8.9	+4.4
EIS	iShares MSCI Israel ETF	0.6	58	22	9.5	+5.0
ITEQ	BlueStar Israel Technology ETF BlueStar Israel Technology Fu	0.6	75	5	1.6	-3.0
FDHT	Fidelity Digital Health ETF	0.6	39	41	-2.4	-6.9
AAXJ	iShares MSCI All Country Asia ex Japan ETF	0.6	70	10	6.3	+1.8
GWX	SPDR S&P International Small Cap ETF	0.6	40	40	6.6	+2.1
HTEC	ROBO Global Healthcare Technology and Innovation ETF	0.6	68	12	1.1	-3.4
SPSM	SPDR Portfolio S&P 600 Small Cap ETF	0.6	3	77	8.2	+3.7
IJR	iShares Core S&P Small Cap ETF	0.6	6	74	8.2	+3.7
RZV	Invesco S&P Smallcap 600 Pure Value ETF	0.6	35	45	10.5	+6.0
PRN	Invesco Dorsey Wright Industrials Momentum ETF	0.6	60	20	5.1	+0.6
FLAX	Franklin FTSE Asia Ex Japan ETF	0.6	19	61	7.2	+2.7
RNEW	VanEck Green Infrastructure ETF	0.6	45	35	-0.4	-4.9
LNGG	Roundhill Alerian LNG ETF	0.6	65	15	8.5	+4.0
FNK	First Trust Mid Cap Value AlphaDEX Fund	0.5	70	10	9.2	+4.7
IYM	iShares U.S. Basic Materials ETF	0.5	40	40	6.7	+2.2
EES	WisdomTree U.S. SmallCap Fund	0.5	38	42	10.3	+5.8
DGRS	WisdomTree US Smallcap Quality Dividend Growth Fund	0.5	38	42	6.7	+2.2
PHO	Invesco Water Resources ETF	0.5	60	20	4.3	-0.2
PIO	Invesco Global Water ETF	0.5	75	5	4.9	+0.4
EBLU	Ecofin Global Water ESG Fund	0.5	40	40	3.9	-0.6
VIOV	Vanguard S&P Small-Cap 600 Value ETF	0.5	15	65	8.7	+4.2
SQLV	Royce Quant Small-Cap Quality Value ETF	0.5	60	20	9.0	+4.5
ISCV	iShares Morningstar Small Cap Value ETF	0.5	6	74	8.1	+3.6
BKSE	BNY Mellon US Small Cap Core Equity ETF	0.5	4	76	5.7	+1.2
DES	WisdomTree U.S. SmallCap Dividend Fund	0.5	38	42	8.1	+3.6
SHLD	Global X Defense Tech ETF	0.5	50	30	4.8	+0.3
MJ	ETFMG Alternative Harvest ETFMG Alternative Harvest	0.5	75	5	-35.0	-39.5
EWK	iShares MSCI Belgium ETF	0.5	50	30	7.6	+3.1
JSML	Janus Henderson Small Cap Growth Alpha ETF	0.5	30	50	9.3	+4.8
XJR	iShares ESG Screened S&P Small-Cap ETF	0.5	12	68	7.7	+3.2
CVY	Invesco Zacks Multi-Asset Income ETF	0.5	106	-26	8.9	+4.4
PXE	Invesco Energy Exploration & Production ETF	0.5	60	20	11.2	+6.7
IEO	iShares U.S. Oil & Gas Exploration & Production ETF	0.5	40	40	8.8	+4.3
XOP	SPDR S&P Oil & Gas Exploration & Production ETF	0.5	35	45	10.0	+5.5
FXU	First Trust Utilities AlphaDEX Fund	0.5	64	16	6.2	+1.7
PUI	Invesco Dorsey Wright Utilities Momentum ETF	0.5	60	20	6.2	+1.7
IDU	iShares U.S. Utilities ETF	0.5	40	40	5.5	+1.0
VPU	Vanguard Utilities ETF	0.5	10	70	6.2	+1.7
FUTY	Fidelity MSCI Utilities Index ETF	0.5	8	72	6.3	+1.8
UTES	Virtus Reaves Utilities ETF	0.5	49	31	5.7	+1.2
FINE	Themes European Luxury ETF	0.5	35	45	-2.2	-6.7
FTXR	First Trust Nasdaq Transportation ETF	0.4	60	20	5.1	+0.6
PSP	Invesco Global Listed Private Equity ETF	0.4	106	-26	9.1	+4.6
IYT	iShares US Transportation ETF	0.4	40	40	2.1	-2.4
XTN	SPDR S&P Transportation ETF	0.4	35	45	1.0	-3.5
APIE	ActivePassive International Equity ETF	0.4	45	35	7.7	+3.2
MAKX	ProShares S&P Kensho Smart Factories ETF	0.4	58	22	0.4	-4.1
CNRG	SPDR S&P Kensho Clean Power ETF	0.4	45	35	-7.5	-12.0
OIH	VanEck Oil Services ETF	0.4	35	45	2.1	-2.5
ROKT	SPDR S&P Kensho Final Frontiers ETF	0.4	45	35	-0.6	-5.1
PPA	Invesco Aerospace & Defense ETF	0.4	58	22	3.5	-1.0
PRNT	3D Printing ETF	0.4	66	14	-4.1	-8.6
FAN	First Trust Global Wind Energy ETF	0.4	60	20	5.5	+1.0
UFO	Procure Space ETF	0.4	75	5	-4.0	-8.5
SMLE	Xtrackers S&P SmallCap 600 ESG ETF	0.4	15	65	7.6	+3.1
EATV	VegTech Plant-based Innovation & Climate ETF	0.4	75	5	1.0	-3.5
ESIX	SPDR S&P SmallCap 600 ESG ETF	0.4	12	68	7.8	+3.3
STXK	Strive Small-Cap ETF	0.4	18	62	5.5	+1.0
DWAS	Invesco Dorsey Wright SmallCap Momentum ETF	0.4	60	20	1.2	-3.3
PSCF	Invesco S&P SmallCap Financials ETF	0.4	29	51	10.2	+5.7
CRIT	Optica Rare Earths & Critical Materials ETF Optica Rare Eart	0.4	85	-5	8.1	+3.6
DKRB	Subversive Decarbonization ETF	0.4	75	5	0.0	-4.5
URA	Global X Uranium ETF	0.4	69	11	3.9	-0.6
NANR	SPDR S&P North American Natural Resources ETF	0.4	35	45	6.6	+2.1
CCSO	Carbon Collective Climate Solutions US Equity ETF	0.4	35	45	2.3	-2.2
VCLN	Virtus Duff & Phelps Clean Energy ETF	0.4	59	21	3.5	-1.0
TGRW	T. Rowe Price Growth Stock ETF	0.4	52	28	4.2	-0.3
JSMD	Janus Henderson Small/Mid Cap Growth Alpha ETF	0.4	30	50	7.6	+3.1
TMFS	Motley Fool Small-Cap Growth ETF	0.4	85	-5	3.6	-0.9
EWO	iShares MSCI Austria ETF	0.4	50	30	12.5	+8.0
FMAT	Fidelity MSCI Materials Index ETF	0.4	8	72	6.6	+2.1
KBWB	Invesco KBW Bank ETF	0.4	35	45	9.1	+4.6
MCH	Matthews China Active ETF	0.4	79	1	6.1	+1.6
VNQI	Vanguard Global ex-U.S. Real Estate ETF	0.3	12	68	8.7	+4.2
GQRE	FlexShares Global Quality Real Estate Index Fund	0.3	45	35	6.9	+2.4
HAUZ	DBX ETF Trust - Xtrackers International Real Estate ETF	0.3	10	70	8.2	+3.7
AIA	iShares Asia 50 ETF	0.3	50	30	6.9	+2.4
ERET	iShares Environmentally Aware Real Estate ETF	0.3	30	50	7.3	+2.8
IFGL	iShares International Developed Real Estate ETF	0.3	48	32	7.0	+2.5
WPS	iShares International Developed Property ETF	0.3	48	32	7.2	+2.7
IQRA	IQ CBRE Real Assets ETF	0.3	65	15	5.9	+1.4
DFSV	Dimensional US Small Cap Value ETF	0.3	31	49	8.9	+4.4
IJJ	iShares S&P Mid-Cap 400 Value ETF	0.3	18	62	8.2	+3.7
MDYV	SPDR S&P 400 Mid Cap Value ETF	0.3	15	65	8.2	+3.7
ARKG	ARK Genomic Revolution ETF	0.3	75	5	-9.2	-13.7
VAW	Vanguard Materials ETF	0.3	10	70	6.5	+2.0
CSD	Invesco S&P Spin-Off ETF	0.3	65	15	7.9	+3.4
EV	Mast Global Battery Recycling & Production ETF	0.3	65	15	12.8	+8.3
HJEN	Direxion Hydrogen ETF	0.3	45	35	-3.2	-7.7
FINX	Global X FinTech ETF	0.3	68	12	3.2	-1.3
BRF	VanEck Brazil Small-Cap ETF	0.3	66	14	7.9	+3.4
IPO	Renaissance IPO ETF	0.3	60	20	-3.2	-7.7
AQWA	Global X Clean Water ETF	0.3	50	30	4.3	-0.2
FIW	First Trust Water ETF	0.3	53	27	4.5	-0.0
VTWV	Vanguard Russell 2000 Value ETF	0.3	15	65	5.8	+1.3
CGW	Invesco S&P Global Water Index ETF	0.3	57	23	3.8	-0.7
PID	Invesco International Dividend Achievers ETF	0.3	53	27	6.7	+2.2
EFRA	iShares Environmental Infrastructure and Industrials ETF	0.3	47	33	5.2	+0.7
SCAP	InfraCap Small Cap Income ETF	0.2	135	-55	7.2	+2.7
IWN	iShares Russell 2000 Value ETF	0.2	24	56	5.6	+1.1
IWC	iShares Micro-Cap ETF	0.2	60	20	-4.3	-8.8
TCHP	T. Rowe Price Blue Chip Growth ETF	0.2	57	23	3.6	-0.9
JXI	iShares Global Utilities ETF	0.2	43	37	6.7	+2.2
IJS	iShares S&P Small-Cap 600 Value ETF	0.2	18	62	9.3	+4.8
SLYV	SPDR S&P 600 Small Cap Value ETF	0.2	15	65	9.4	+4.9
TDVG	T. Rowe Price Dividend Growth ETF	0.1	50	30	4.9	+0.4
TEQI	T. Rowe Price Equity Income ETF	0.1	54	26	4.1	-0.4
FYT	First Trust Small Cap Value AlphaDEX Fund	0.1	73	7	11.7	+7.2
SCJ	iShares MSCI Japan Small-Cap ETF	0.1	50	30	6.4	+1.9
PSCE	Invesco S&P SmallCap Energy ETF	0.0	29	51	6.0	+1.5
ARB	AltShares Merger Arbitrage ETF	-1.4	77	3	-0.2	-4.7

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2019	2020	2021	2022	2023	2024E	2025E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2023	2024E	2025E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Rayliant Quantitative Developed Market Equity ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	14.9	%
Divided by: Fwd. P/BV	2.8	x
Less: Expense ratio	80	bp
Equals: ALTAR Score	4.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.49	CATEGORY AVERAGE	1.51

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.