# Quantitative Advantage, LLC

> Institutional holdings reported to the SEC as of Q1 2023 on Form 13F. CIK 1368905. Source: https://holderbook.com/funds/1368905-quantitative-advantage-llc/

- Reported value: $689.4M
- Positions: 115
- Weight of the ten largest: 41.1%
- Filed: 2023-05-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $51.3M | 2,040,981 | 7.4% | 1 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $35.4M | 173,594 | 5.1% | 18 |
| ISHARES TR | [IYW](https://holderbook.com/stocks/IYW/) | $33.1M | 356,495 | 4.8% | 18 |
| FLEXSHARES TR | [TILT](https://holderbook.com/stocks/TILT/) | $28.8M | 183,498 | 4.2% | 9 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $24.0M | 448,686 | 3.5% | 18 |
| VANECK ETF TRUST | [MOAT](https://holderbook.com/stocks/MOAT/) | $23.3M | 314,920 | 3.4% | 10 |
| INVESCO EXCHANGE TRADED FD T | [RSPT](https://holderbook.com/stocks/RSPT/) | $22.8M | 82,678 | 3.3% | 2 |
| ISHARES TR | [IWV](https://holderbook.com/stocks/IWV/) | $22.6M | 96,020 | 3.3% | 14 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $21.8M | 263,422 | 3.2% | 6 |
| GOLDMAN SACHS ETF TR | [GSIE](https://holderbook.com/stocks/GSIE/) | $20.3M | 660,410 | 3.0% | 18 |
| J P MORGAN EXCHANGE TRADED F | [JPUS](https://holderbook.com/stocks/JPUS/) | $18.9M | 197,903 | 2.7% | 18 |
| GOLDMAN SACHS ETF TR | [GSLC](https://holderbook.com/stocks/GSLC/) | $17.5M | 215,777 | 2.5% | 18 |
| SSGA ACTIVE ETF TR | [TOTL](https://holderbook.com/stocks/TOTL/) | $17.1M | 416,130 | 2.5% | 18 |
| PIMCO ETF TR | [BOND](https://holderbook.com/stocks/BOND/) | $16.6M | 178,755 | 2.4% | 18 |
| NEW YORK LIFE INVESTMENTS ET | [QAI](https://holderbook.com/stocks/QAI/) | $14.6M | 501,438 | 2.1% | 14 |
| HARTFORD FDS EXCHANGE TRADED | [HTRB](https://holderbook.com/stocks/HTRB/) | $12.7M | 373,363 | 1.8% | 12 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $12.6M | 97,015 | 1.8% | 18 |
| INVESCO EXCH TRD SLF IDX FD | [OMFL](https://holderbook.com/stocks/OMFL/) | $12.2M | 263,013 | 1.8% | 11 |
| VANGUARD WORLD FD | [MGC](https://holderbook.com/stocks/MGC/) | $11.7M | 82,035 | 1.7% | 11 |
| LATTICE STRATEGIES TR | [RODM](https://holderbook.com/stocks/RODM/) | $11.2M | 427,063 | 1.6% | 15 |
| VANGUARD WORLD FD | [VFH](https://holderbook.com/stocks/VFH/) | $9.6M | 123,683 | 1.4% | 18 |
| VANGUARD WORLD FD | [VCR](https://holderbook.com/stocks/VCR/) | $9.2M | 36,386 | 1.3% | 13 |
| ISHARES TR | [ACWX](https://holderbook.com/stocks/ACWX/) | $9.0M | 185,492 | 1.3% | 14 |
| ISHARES TR | [IYG](https://holderbook.com/stocks/IYG/) | $8.9M | 58,787 | 1.3% | 18 |
| ISHARES TR | [IYC](https://holderbook.com/stocks/IYC/) | $8.5M | 130,881 | 1.2% | 13 |
| FIRST TR EXCHNG TRADED FD VI | [UCON](https://holderbook.com/stocks/UCON/) | $8.5M | 349,121 | 1.2% | 9 |
| J P MORGAN EXCHANGE TRADED F | [JPIB](https://holderbook.com/stocks/JPIB/) | $7.3M | 155,144 | 1.1% | 18 |
| GOLDMAN SACHS ETF TR | [GCOR](https://holderbook.com/stocks/GCOR/) | $6.9M | 163,192 | 1.0% | 7 |
| LISTED FDS TR | [CCOR](https://holderbook.com/stocks/CCOR/) | $6.8M | 226,570 | 1.0% | 3 |
| SPDR INDEX SHS FDS | [QEFA](https://holderbook.com/stocks/QEFA/) | $6.6M | 95,531 | 1.0% | 15 |
| JOHN HANCOCK EXCHANGE TRADED | [JHEM](https://holderbook.com/stocks/JHEM/) | $6.6M | 271,819 | 1.0% | 15 |
| J P MORGAN EXCHANGE TRADED F | [JPIN](https://holderbook.com/stocks/JPIN/) | $6.5M | 125,018 | 0.9% | 18 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $6.3M | 62,659 | 0.9% | 12 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $6.2M | 26,199 | 0.9% | 18 |
| WISDOMTREE TR | [DNL](https://holderbook.com/stocks/DNL/) | $6.1M | 171,660 | 0.9% | 11 |
| AGF INVTS TR | [BTAL](https://holderbook.com/stocks/BTAL/) | $5.4M | 265,275 | 0.8% | 3 |
| FIRST TR EXCH TRADED FD III | [FTLS](https://holderbook.com/stocks/FTLS/) | $5.3M | 103,923 | 0.8% | 3 |
| FIRST TR EXCHANGE TRAD FD VI | [FAAR](https://holderbook.com/stocks/FAAR/) | $4.7M | 159,565 | 0.7% | 3 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $4.6M | 136,020 | 0.7% | 5 |
| NEW YORK LIFE INVESTMENTS ET | [MNA](https://holderbook.com/stocks/MNA/) | $4.6M | 146,690 | 0.7% | 3 |
| APTUS DEFINED RISK ETF | [DRSK](https://holderbook.com/stocks/DRSK/) | $4.6M | 177,422 | 0.7% | 3 |
| KRANESHARES TRUST | [IVOL](https://holderbook.com/stocks/IVOL/) | $4.2M | 186,499 | 0.6% | 3 |
| KRANESHARES TRUST | [KMLM](https://holderbook.com/stocks/KMLM/) | $4.2M | 141,772 | 0.6% | 3 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $4.2M | 129,549 | 0.6% | 12 |
| INVESCO ACTIVELY MANAGED EXC | [GTO](https://holderbook.com/stocks/GTO/) | $3.8M | 81,033 | 0.6% | 12 |
| WISDOMTREE TR | [AGGY](https://holderbook.com/stocks/AGGY/) | $3.8M | 86,272 | 0.5% | 2 |
| ETFS GOLD TR | [SGOL](https://holderbook.com/stocks/SGOL/) | $3.3M | 176,341 | 0.5% | 12 |
| ABRDN PRECIOUS METALS BASKET | [GLTR](https://holderbook.com/stocks/GLTR/) | $3.3M | 36,004 | 0.5% | 1 |
| INVESCO CURRENCYSHARES SWISS | [FXF](https://holderbook.com/stocks/FXF/) | $3.2M | 32,889 | 0.5% | 18 |
| SPDR SERIES TRUST | [SPYD](https://holderbook.com/stocks/SPYD/) | $3.2M | 84,171 | 0.5% | 4 |
| INVESCO CURRENCYSHARES EURO | [FXE](https://holderbook.com/stocks/FXE/) | $3.2M | 31,802 | 0.5% | 1 |
| INVESCO CURRENCYSHARES | [FXY](https://holderbook.com/stocks/FXY/) | $3.1M | 44,880 | 0.5% | 18 |
| INVESCO ACTIVELY MANAGED EXC | [VRIG](https://holderbook.com/stocks/VRIG/) | $3.1M | 126,664 | 0.5% | 6 |
| VANGUARD WHITEHALL FDS | [VWOB](https://holderbook.com/stocks/VWOB/) | $3.1M | 49,919 | 0.5% | 10 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $2.8M | 54,649 | 0.4% | 7 |
| PIMCO ETF TR | [STPZ](https://holderbook.com/stocks/STPZ/) | $2.6M | 50,952 | 0.4% | 9 |
| NEW YORK LIFE INVTS ACTIVE E | [MMIT](https://holderbook.com/stocks/MMIT/) | $2.5M | 103,518 | 0.4% | 5 |
| INVESCO EXCHANGE TRADED FD T | [PEY](https://holderbook.com/stocks/PEY/) | $2.4M | 120,922 | 0.3% | 4 |
| WISDOMTREE TR | [DHS](https://holderbook.com/stocks/DHS/) | $2.4M | 29,261 | 0.3% | 4 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $2.4M | 23,556 | 0.3% | 4 |
| SPDR INDEX SHS FDS | [CWI](https://holderbook.com/stocks/CWI/) | $2.4M | 93,052 | 0.3% | 12 |
| ISHARES TR | [IEI](https://holderbook.com/stocks/IEI/) | $2.2M | 18,688 | 0.3% | 13 |
| FIRST TR EXCHNG TRADED FD VI | [BUFR](https://holderbook.com/stocks/BUFR/) | $2.2M | 93,290 | 0.3% | 6 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $2.2M | 22,850 | 0.3% | 18 |
| FIRST TR EXCHANGE TRAD FD VI | [FTGC](https://holderbook.com/stocks/FTGC/) | $2.2M | 92,115 | 0.3% | 6 |
| AMERICAN CENTY ETF TR | [AVUS](https://holderbook.com/stocks/AVUS/) | $2.1M | 29,677 | 0.3% | 6 |
| DAVIS FUNDAMENTAL ETF TR | [DWLD](https://holderbook.com/stocks/DWLD/) | $2.1M | 77,591 | 0.3% | 1 |
| FRANKLIN TEMPLETON ETF TR | [FLMI](https://holderbook.com/stocks/FLMI/) | $2.0M | 84,191 | 0.3% | 5 |
| SIMPLIFY EXCHANGE TRADED FUN | [SVOL](https://holderbook.com/stocks/SVOL/) | $1.9M | 89,620 | 0.3% | 3 |
| LITMAN GREGORY FDS TR | [DBMF](https://holderbook.com/stocks/DBMF/) | $1.8M | 67,438 | 0.3% | 3 |
| HARTFORD FDS EXCHANGE TRADED | [HMOP](https://holderbook.com/stocks/HMOP/) | $1.7M | 45,429 | 0.3% | 5 |
| DBX ETF TR | [HDEF](https://holderbook.com/stocks/HDEF/) | $1.7M | 73,024 | 0.2% | 4 |
| WISDOMTREE TR | [DEM](https://holderbook.com/stocks/DEM/) | $1.7M | 44,232 | 0.2% | 4 |
| SPDR INDEX SHS FDS | [WDIV](https://holderbook.com/stocks/WDIV/) | $1.6M | 27,764 | 0.2% | 4 |
| SPDR SERIES TRUST | [SPTM](https://holderbook.com/stocks/SPTM/) | $1.6M | 32,126 | 0.2% | 18 |
| WISDOMTREE TR | [AGZD](https://holderbook.com/stocks/AGZD/) | $1.5M | 35,473 | 0.2% | 3 |
| COLUMBIA ETF TR I | [MUST](https://holderbook.com/stocks/MUST/) | $1.5M | 72,286 | 0.2% | 6 |
| ALTSHARES TRUST | [ARB](https://holderbook.com/stocks/ARB/) | $1.3M | 50,329 | 0.2% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $1.2M | 22,517 | 0.2% | 2 |
| SSGA ACTIVE ETF TR | [RLY](https://holderbook.com/stocks/RLY/) | $1.2M | 43,618 | 0.2% | 2 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $1.1M | 9,667 | 0.2% | 2 |
| AMERICAN CENTY ETF TR | [TAXF](https://holderbook.com/stocks/TAXF/) | $1.0M | 20,728 | 0.2% | 5 |
| FIRST TR EXCHANGE-TRADED FD | [FTSL](https://holderbook.com/stocks/FTSL/) | $1.0M | 22,977 | 0.2% | 2 |
| FIRST TR EXCH TRADED FD III | [FMHI](https://holderbook.com/stocks/FMHI/) | $1.0M | 21,476 | 0.1% | 5 |
| J P MORGAN EXCHANGE TRADED F | [JIRE](https://holderbook.com/stocks/JIRE/) | $995.6K | 18,078 | 0.1% | 1 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $990.5K | 16,520 | 0.1% | 13 |
| INNOVATOR ETFS TRUST | [BUFF](https://holderbook.com/stocks/BUFF/) | $986.8K | 27,470 | 0.1% | 6 |
| VANGUARD SCOTTSDALE FDS | [VMBS](https://holderbook.com/stocks/VMBS/) | $976.7K | 20,981 | 0.1% | 18 |
| ABRDN ETFS | [BCI](https://holderbook.com/stocks/BCI/) | $976.3K | 47,006 | 0.1% | 6 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $972.4K | 21,885 | 0.1% | 6 |
| FIRST TR EXCH TRADED FD III | [FPE](https://holderbook.com/stocks/FPE/) | $966.5K | 60,557 | 0.1% | 2 |
| ISHARES TR | [IBTD](https://holderbook.com/stocks/IBTD/) | $908.8K | 36,631 | 0.1% | 1 |
| INVESCO EXCH TRADED FD TR II | [RDIV](https://holderbook.com/stocks/RDIV/) | $826.4K | 20,088 | 0.1% | 4 |
| PIMCO ETF TR | [MUNI](https://holderbook.com/stocks/MUNI/) | $806.6K | 15,434 | 0.1% | 5 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $690.5K | 5,000 | 0.1% | 1 |
| FIRST TR EXCHANGE-TRADED FD | [KNG](https://holderbook.com/stocks/KNG/) | $686.8K | 13,351 | 0.1% | 2 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $684.7K | 14,220 | 0.1% | 7 |
| FIRST TR EXCHANGE-TRADED FD | [QTEC](https://holderbook.com/stocks/QTEC/) | $619.1K | 4,744 | 0.1% | 8 |
| DIMENSIONAL ETF TRUST | [DFNM](https://holderbook.com/stocks/DFNM/) | $488.8K | 10,116 | 0.1% | 5 |
| SSGA ACTIVE TR | [MBND](https://holderbook.com/stocks/MBND/) | $479.2K | 17,665 | 0.1% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2023 | +4.4% | +7.0% | -2.6% | 100% |
| Q4 2022 | +6.9% | +7.1% | -0.2% | 100% |
| Q3 2022 | -5.2% | -5.3% | +0.1% | 100% |
| Q2 2022 | -13.0% | -16.5% | +3.5% | 100% |
| Q1 2022 | -4.1% | -4.9% | +0.9% | 100% |
| Q4 2021 | +5.8% | +10.7% | -4.9% | 100% |
| Q3 2021 | -1.1% | +0.3% | -1.3% | 100% |
| Q2 2021 | +5.9% | +8.0% | -2.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2023 | $689.4M | 115 |
| Q4 2022 | $648.2M | 112 |
| Q3 2022 | $570.7M | 105 |
| Q2 2022 | $576.3M | 91 |
| Q1 2022 | $650.4M | 86 |
| Q4 2021 | $646.9M | 78 |
| Q3 2021 | $589.3M | 75 |
| Q2 2021 | $579.7M | 68 |
| Q1 2021 | $516.0M | 60 |
| Q4 2020 | $473.7M | 60 |
| Q3 2020 | $409.6M | 59 |
| Q2 2020 | $373.4M | 56 |