ACWI vs. PHDG ETF Comparison

Comparison of iShares MSCI ACWI Index Fund (ACWI) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

ACWI

iShares MSCI ACWI Index Fund

ACWI Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Country World Index. The fund invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index is a free float-adjusted market capitalization index designed to measure the combined equity market performance of developed and emerging markets countries. Components primarily include consumer discretionary, consumer staples, energy, financial, industrials and information technology companies. It is non-diversified.

Grade (RS Rating)

Last Trade

$120.01

Average Daily Volume

1,898,594

Number of Holdings ^*

616

* may have additional holdings in another (foreign) market

PHDG

PowerShares S&P 500 Downside Hedged Portfolio

PHDG Description

The PowerShares S&P 500® Downside Hedged Portfolio (the Fund) is an actively managed exchange-traded fund (ETF) that seeks to achieve positive total returns in rising or falling markets that are not directly correlated to broad equity or fixed-income market returns. The Fund seeks to achieve its investment objective by using a quantitative, rules-based strategy designed to provide returns that correspond to the performance of the S&P 500® Dynamic VEQTOR Index (the Index). The Index provides investors with broad equity market exposure with an implied volatility hedge by dynamically allocating between equity, volatility and cash. The index allows investors to receive exposure to the equity and volatility of the S&P 500 Index in a dynamic framework.

Grade (RS Rating)

Last Trade

$38.15

Average Daily Volume

12,398

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

Performance

Period	ACWI	PHDG
30 Days	0.17%	-1.45%
60 Days	1.91%	1.30%
90 Days	2.66%	1.18%
12 Months	25.12%	18.05%

484 Overlapping Holdings

	Symbol	Grade	Weight in ACWI	Weight in PHDG	Overlap
	A	D	0.05%	0.04%	0.04%
	AAPL	C	4.24%	3.74%	3.74%
	ABBV	F	0.38%	0.32%	0.32%
	ABNB	C	0.07%	0.06%	0.06%
	ABT	B	0.26%	0.22%	0.22%
	ACGL	C	0.05%	0.04%	0.04%
	ACN	B	0.28%	0.24%	0.24%
	ADBE	C	0.28%	0.25%	0.25%
	ADI	D	0.14%	0.11%	0.11%
	ADM	D	0.03%	0.03%	0.03%
	ADP	A	0.15%	0.13%	0.13%
	ADSK	A	0.08%	0.07%	0.07%
	AEE	A	0.03%	0.03%	0.03%
	AEP	C	0.06%	0.05%	0.05%
	AES	F	0.01%	0.01%	0.01%
	AFL	B	0.08%	0.06%	0.06%
	AIG	B	0.07%	0.05%	0.05%
	AIZ	A	0.02%	0.01%	0.01%
	AJG	A	0.08%	0.07%	0.07%
	AKAM	D	0.02%	0.01%	0.01%
	ALB	B	0.02%	0.01%	0.01%
	ALGN	D	0.02%	0.02%	0.02%
	ALL	A	0.07%	0.06%	0.06%
	ALLE	C	0.02%	0.01%	0.01%
	AMAT	F	0.18%	0.17%	0.17%
	AMCR	C	0.02%	0.02%	0.02%
	AMD	F	0.29%	0.24%	0.24%
	AME	A	0.06%	0.05%	0.05%
	AMGN	F	0.19%	0.17%	0.17%
	AMP	A	0.07%	0.06%	0.06%
	AMT	C	0.12%	0.1%	0.1%
	AMZN	C	2.45%	2.13%	2.13%
	ANET	C	0.13%	0.11%	0.11%
	ANSS	B	0.04%	0.03%	0.03%
	AON	A	0.1%	0.09%	0.09%
	AOS	F	0.01%	0.01%	0.01%
	APA	D	0.01%	0.01%	0.01%
	APD	A	0.09%	0.08%	0.08%
	APH	A	0.11%	0.09%	0.09%
	APTV	F	0.02%	0.02%	0.02%
	ARE	F	0.02%	0.02%	0.02%
	ATO	A	0.03%	0.02%	0.02%
	AVB	B	0.04%	0.03%	0.03%
	AVGO	D	0.93%	0.86%	0.86%
	AVY	F	0.02%	0.02%	0.02%
	AWK	C	0.03%	0.03%	0.03%
	AXON	A	0.06%	0.05%	0.05%
	AXP	A	0.21%	0.17%	0.17%
	AZO	C	0.07%	0.06%	0.06%
	BA	F	0.14%	0.11%	0.11%
	BAC	A	0.42%	0.33%	0.33%
	BALL	F	0.02%	0.02%	0.02%
	BAX	F	0.02%	0.02%	0.02%
	BBY	D	0.02%	0.02%	0.02%
	BDX	F	0.08%	0.07%	0.07%
	BEN	C	0.01%	0.01%	0.01%
	BG	D	0.02%	0.01%	0.01%
	BIIB	F	0.03%	0.03%	0.03%
	BK	A	0.07%	0.06%	0.06%
	BKNG	A	0.22%	0.18%	0.18%
	BKR	A	0.05%	0.05%	0.05%
	BLDR	D	0.03%	0.02%	0.02%
	BLK	B	0.19%	0.16%	0.16%
	BMY	B	0.15%	0.13%	0.13%
	BR	A	0.04%	0.03%	0.03%
	BRK.A	B	0.79%	0.92%	0.79%
	BRO	B	0.03%	0.03%	0.03%
	BSX	A	0.17%	0.14%	0.14%
	BX	A	0.17%	0.14%	0.14%
	BXP	C	0.01%	0.01%	0.01%
	C	A	0.17%	0.14%	0.14%
	CAG	F	0.02%	0.01%	0.01%
	CAH	B	0.04%	0.03%	0.03%
	CARR	C	0.08%	0.07%	0.07%
	CAT	B	0.24%	0.2%	0.2%
	CB	C	0.14%	0.12%	0.12%
	CBOE	C	0.03%	0.02%	0.02%
	CBRE	B	0.05%	0.04%	0.04%
	CCI	C	0.06%	0.05%	0.05%
	CCL	A	0.03%	0.03%	0.03%
	CDNS	B	0.11%	0.09%	0.09%
	CDW	F	0.03%	0.03%	0.03%
	CE	F	0.01%	0.01%	0.01%
	CEG	C	0.09%	0.08%	0.08%
	CF	A	0.02%	0.02%	0.02%
	CFG	B	0.03%	0.02%	0.02%
	CHD	A	0.03%	0.03%	0.03%
	CHRW	B	0.02%	0.01%	0.01%
	CHTR	C	0.05%	0.04%	0.04%
	CI	D	0.12%	0.1%	0.1%
	CINF	A	0.03%	0.03%	0.03%
	CL	D	0.09%	0.08%	0.08%
	CLX	A	0.03%	0.02%	0.02%
	CMCSA	B	0.21%	0.18%	0.18%
	CME	B	0.1%	0.09%	0.09%
	CMG	B	0.1%	0.09%	0.09%
	CMI	A	0.06%	0.05%	0.05%
	CMS	C	0.02%	0.02%	0.02%
	CNC	D	0.04%	0.03%	0.03%
	CNP	A	0.03%	0.02%	0.02%
	COF	C	0.09%	0.08%	0.08%
	COP	C	0.17%	0.14%	0.14%
	COR	B	0.05%	0.05%	0.05%
	COST	A	0.53%	0.44%	0.44%
	CPAY	A	0.03%	0.03%	0.03%
	CPB	D	0.01%	0.01%	0.01%
	CPRT	B	0.06%	0.05%	0.05%
	CPT	B	0.02%	0.01%	0.01%
	CRL	D	0.01%	0.01%	0.01%
	CRM	B	0.4%	0.35%	0.35%
	CRWD	B	0.1%	0.09%	0.09%
	CSCO	B	0.29%	0.25%	0.25%
	CSGP	D	0.04%	0.03%	0.03%
	CSX	C	0.09%	0.07%	0.07%
	CTAS	B	0.1%	0.08%	0.08%
	CTLT	C	0.01%	0.01%	0.01%
	CTRA	B	0.02%	0.02%	0.02%
	CTSH	B	0.05%	0.04%	0.04%
	CTVA	C	0.05%	0.04%	0.04%
	CVS	D	0.09%	0.07%	0.07%
	CVX	A	0.36%	0.3%	0.3%
	D	C	0.06%	0.05%	0.05%
	DAL	B	0.01%	0.04%	0.01%
	DAY	B	0.01%	0.01%	0.01%
	DD	C	0.04%	0.04%	0.04%
	DE	B	0.13%	0.11%	0.11%
	DECK	A	0.03%	0.03%	0.03%
	DELL	B	0.05%	0.04%	0.04%
	DFS	B	0.06%	0.05%	0.05%
	DG	F	0.02%	0.02%	0.02%
	DGX	A	0.02%	0.02%	0.02%
	DHI	F	0.06%	0.05%	0.05%
	DHR	F	0.2%	0.17%	0.17%
	DIS	B	0.26%	0.21%	0.21%
	DLR	B	0.08%	0.06%	0.06%
	DLTR	F	0.02%	0.01%	0.01%
	DOC	C	0.02%	0.02%	0.02%
	DOV	A	0.04%	0.03%	0.03%
	DOW	F	0.04%	0.03%	0.03%
	DPZ	C	0.02%	0.02%	0.02%
	DRI	B	0.03%	0.02%	0.02%
	DTE	C	0.03%	0.03%	0.03%
	DUK	C	0.11%	0.09%	0.09%
	DVA	C	0.01%	0.01%	0.01%
	DVN	F	0.03%	0.03%	0.03%
	DXCM	C	0.04%	0.03%	0.03%
	EA	A	0.05%	0.04%	0.04%
	EBAY	D	0.04%	0.03%	0.03%
	ECL	D	0.08%	0.07%	0.07%
	ED	C	0.04%	0.04%	0.04%
	EFX	F	0.04%	0.03%	0.03%
	EG	C	0.02%	0.02%	0.02%
	EIX	B	0.04%	0.03%	0.03%
	EL	F	0.02%	0.02%	0.02%
	ELV	F	0.12%	0.1%	0.1%
	EMN	C	0.01%	0.01%	0.01%
	EMR	B	0.09%	0.08%	0.08%
	ENPH	F	0.01%	0.01%	0.01%
	EOG	A	0.1%	0.08%	0.08%
	EPAM	B	0.02%	0.02%	0.02%
	EQIX	A	0.11%	0.09%	0.09%
	EQR	C	0.03%	0.03%	0.03%
	EQT	B	0.03%	0.03%	0.03%
	ERIE	D	0.01%	0.01%	0.01%
	ES	C	0.03%	0.02%	0.02%
	ESS	B	0.02%	0.02%	0.02%
	ETN	A	0.19%	0.16%	0.16%
	ETR	B	0.04%	0.03%	0.03%
	EVRG	A	0.02%	0.02%	0.02%
	EW	C	0.05%	0.04%	0.04%
	EXC	C	0.05%	0.04%	0.04%
	EXPD	C	0.02%	0.02%	0.02%
	EXPE	B	0.03%	0.02%	0.02%
	EXR	C	0.05%	0.04%	0.04%
	F	C	0.05%	0.05%	0.05%
	FANG	C	0.04%	0.04%	0.04%
	FAST	B	0.06%	0.05%	0.05%
	FCX	F	0.08%	0.07%	0.07%
	FDS	B	0.03%	0.02%	0.02%
	FDX	B	0.09%	0.07%	0.07%
	FE	C	0.03%	0.02%	0.02%
	FFIV	B	0.02%	0.02%	0.02%
	FI	A	0.16%	0.13%	0.13%
	FICO	B	0.07%	0.06%	0.06%
	FIS	C	0.06%	0.05%	0.05%
	FITB	B	0.04%	0.03%	0.03%
	FOX	A	0.01%	0.01%	0.01%
	FOXA	A	0.01%	0.01%	0.01%
	FSLR	F	0.02%	0.02%	0.02%
	FTNT	C	0.07%	0.06%	0.06%
	FTV	C	0.03%	0.03%	0.03%
	GD	D	0.08%	0.08%	0.08%
	GDDY	A	0.03%	0.03%	0.03%
	GE	D	0.25%	0.21%	0.21%
	GEHC	D	0.04%	0.04%	0.04%
	GEN	B	0.02%	0.02%	0.02%
	GEV	B	0.12%	0.1%	0.1%
	GILD	C	0.14%	0.12%	0.12%
	GIS	D	0.04%	0.04%	0.04%
	GLW	B	0.05%	0.04%	0.04%
	GM	C	0.08%	0.07%	0.07%
	GOOG	C	1.16%	0.92%	0.92%
	GOOGL	C	1.34%	1.11%	1.11%
	GPC	D	0.02%	0.02%	0.02%
	GPN	B	0.04%	0.03%	0.03%
	GRMN	B	0.04%	0.03%	0.03%
	GS	A	0.24%	0.2%	0.2%
	GWW	B	0.07%	0.06%	0.06%
	HAL	C	0.03%	0.03%	0.03%
	HBAN	A	0.03%	0.03%	0.03%
	HCA	F	0.09%	0.07%	0.07%
	HD	B	0.52%	0.43%	0.43%
	HES	B	0.05%	0.04%	0.04%
	HIG	B	0.05%	0.04%	0.04%
	HII	F	0.01%	0.01%	0.01%
	HLT	A	0.08%	0.07%	0.07%
	HOLX	D	0.02%	0.02%	0.02%
	HON	C	0.19%	0.16%	0.16%
	HPE	B	0.03%	0.03%	0.03%
	HPQ	B	0.05%	0.04%	0.04%
	HRL	D	0.01%	0.01%	0.01%
	HSIC	C	0.01%	0.01%	0.01%
	HST	C	0.02%	0.01%	0.01%
	HSY	F	0.03%	0.03%	0.03%
	HUBB	B	0.03%	0.03%	0.03%
	HUM	C	0.04%	0.04%	0.04%
	HWM	A	0.06%	0.05%	0.05%
	IBM	C	0.24%	0.21%	0.21%
	ICE	C	0.11%	0.1%	0.1%
	IDXX	F	0.04%	0.04%	0.04%
	IEX	C	0.02%	0.02%	0.02%
	IFF	D	0.03%	0.02%	0.02%
	INCY	C	0.01%	0.01%	0.01%
	INTC	C	0.13%	0.12%	0.12%
	INTU	B	0.23%	0.21%	0.21%
	INVH	D	0.03%	0.02%	0.02%
	IP	A	0.02%	0.02%	0.02%
	IPG	D	0.01%	0.01%	0.01%
	IQV	F	0.04%	0.04%	0.04%
	IR	B	0.05%	0.04%	0.04%
	IRM	C	0.04%	0.04%	0.04%
	ISRG	A	0.24%	0.21%	0.21%
	IT	C	0.05%	0.04%	0.04%
	ITW	B	0.1%	0.08%	0.08%
	J	D	0.02%	0.02%	0.02%
	JBHT	C	0.02%	0.02%	0.02%
	JBL	C	0.02%	0.02%	0.02%
	JCI	B	0.07%	0.06%	0.06%
	JKHY	D	0.02%	0.01%	0.01%
	JNJ	C	0.47%	0.39%	0.39%
	JNPR	D	0.01%	0.01%	0.01%
	JPM	A	0.89%	0.74%	0.74%
	K	A	0.03%	0.02%	0.02%
	KDP	F	0.05%	0.04%	0.04%
	KEY	B	0.02%	0.02%	0.02%
	KEYS	A	0.03%	0.03%	0.03%
	KHC	F	0.03%	0.03%	0.03%
	KIM	A	0.02%	0.02%	0.02%
	KKR	A	0.12%	0.11%	0.11%
	KLAC	F	0.11%	0.09%	0.09%
	KMB	C	0.06%	0.05%	0.05%
	KMI	A	0.07%	0.06%	0.06%
	KMX	B	0.02%	0.01%	0.01%
	KO	D	0.33%	0.26%	0.26%
	KR	B	0.05%	0.04%	0.04%
	KVUE	A	0.06%	0.05%	0.05%
	L	A	0.02%	0.02%	0.02%
	LDOS	C	0.03%	0.02%	0.02%
	LEN	D	0.05%	0.04%	0.04%
	LH	B	0.03%	0.02%	0.02%
	LHX	C	0.06%	0.05%	0.05%
	LIN	C	0.27%	0.23%	0.23%
	LKQ	F	0.01%	0.01%	0.01%
	LLY	F	0.75%	0.67%	0.67%
	LMT	D	0.15%	0.12%	0.12%
	LNT	A	0.02%	0.02%	0.02%
	LOW	C	0.19%	0.17%	0.17%
	LRCX	F	0.12%	0.11%	0.11%
	LULU	C	0.04%	0.04%	0.04%
	LUV	C	0.01%	0.02%	0.01%
	LVS	B	0.02%	0.02%	0.02%
	LW	C	0.01%	0.01%	0.01%
	LYB	F	0.03%	0.02%	0.02%
	LYV	A	0.03%	0.02%	0.02%
	MA	B	0.55%	0.46%	0.46%
	MAA	B	0.02%	0.02%	0.02%
	MAR	A	0.09%	0.07%	0.07%
	MAS	D	0.02%	0.02%	0.02%
	MCD	D	0.27%	0.23%	0.23%
	MCHP	F	0.04%	0.04%	0.04%
	MCK	A	0.1%	0.09%	0.09%
	MCO	B	0.1%	0.08%	0.08%
	MDLZ	F	0.11%	0.09%	0.09%
	MDT	D	0.14%	0.12%	0.12%
	MET	A	0.07%	0.05%	0.05%
	META	D	1.57%	1.36%	1.36%
	MGM	D	0.01%	0.01%	0.01%
	MKC	C	0.02%	0.02%	0.02%
	MKTX	D	0.01%	0.01%	0.01%
	MLM	C	0.05%	0.04%	0.04%
	MMC	B	0.14%	0.12%	0.12%
	MMM	D	0.09%	0.08%	0.08%
	MNST	C	0.05%	0.04%	0.04%
	MO	A	0.12%	0.1%	0.1%
	MOH	F	0.02%	0.02%	0.02%
	MOS	F	0.01%	0.01%	0.01%
	MPC	D	0.07%	0.06%	0.06%
	MPWR	F	0.04%	0.03%	0.03%
	MRK	D	0.31%	0.27%	0.27%
	MRNA	F	0.02%	0.01%	0.01%
	MRO	B	0.02%	0.02%	0.02%
	MS	A	0.21%	0.18%	0.18%
	MSCI	C	0.06%	0.05%	0.05%
	MSFT	D	3.76%	3.42%	3.42%
	MSI	B	0.1%	0.09%	0.09%
	MTB	A	0.05%	0.04%	0.04%
	MTCH	D	0.01%	0.01%	0.01%
	MTD	F	0.03%	0.03%	0.03%
	MU	D	0.14%	0.12%	0.12%
	NDAQ	A	0.04%	0.03%	0.03%
	NDSN	B	0.02%	0.02%	0.02%
	NEE	C	0.2%	0.17%	0.17%
	NEM	D	0.06%	0.05%	0.05%
	NFLX	A	0.48%	0.39%	0.39%
	NI	A	0.02%	0.02%	0.02%
	NKE	F	0.11%	0.1%	0.1%
	NOC	D	0.09%	0.07%	0.07%
	NOW	A	0.27%	0.23%	0.23%
	NRG	B	0.03%	0.02%	0.02%
	NSC	B	0.07%	0.06%	0.06%
	NTAP	C	0.03%	0.03%	0.03%
	NTRS	A	0.03%	0.02%	0.02%
	NUE	C	0.04%	0.04%	0.04%
	NVDA	B	4.62%	3.89%	3.89%
	NVR	D	0.04%	0.03%	0.03%
	NWSA	A	0.01%	0.01%	0.01%
	NXPI	D	0.07%	0.06%	0.06%
	O	C	0.06%	0.05%	0.05%
	ODFL	C	0.05%	0.05%	0.05%
	OKE	A	0.08%	0.07%	0.07%
	OMC	C	0.03%	0.02%	0.02%
	ON	D	0.04%	0.03%	0.03%
	ORCL	A	0.4%	0.32%	0.32%
	ORLY	B	0.09%	0.08%	0.08%
	OTIS	C	0.05%	0.04%	0.04%
	OXY	D	0.04%	0.04%	0.04%
	PANW	B	0.16%	0.14%	0.14%
	PARA	C	0.01%	0.01%	0.01%
	PAYC	B	0.01%	0.01%	0.01%
	PAYX	B	0.06%	0.05%	0.05%
	PCAR	B	0.07%	0.07%	0.07%
	PCG	A	0.05%	0.05%	0.05%
	PEG	A	0.06%	0.05%	0.05%
	PEP	F	0.27%	0.24%	0.24%
	PFE	F	0.18%	0.16%	0.16%
	PFG	D	0.03%	0.02%	0.02%
	PG	C	0.51%	0.42%	0.42%
	PGR	A	0.19%	0.16%	0.16%
	PH	A	0.11%	0.1%	0.1%
	PHM	D	0.04%	0.03%	0.03%
	PKG	A	0.03%	0.02%	0.02%
	PLD	F	0.14%	0.11%	0.11%
	PLTR	B	0.16%	0.13%	0.13%
	PM	B	0.25%	0.21%	0.21%
	PNC	B	0.1%	0.09%	0.09%
	PNR	A	0.02%	0.02%	0.02%
	PODD	C	0.02%	0.02%	0.02%
	POOL	C	0.02%	0.01%	0.01%
	PPG	F	0.04%	0.03%	0.03%
	PPL	A	0.03%	0.03%	0.03%
	PRU	A	0.06%	0.05%	0.05%
	PSA	C	0.07%	0.06%	0.06%
	PSX	C	0.07%	0.06%	0.06%
	PTC	B	0.03%	0.02%	0.02%
	PWR	A	0.06%	0.05%	0.05%
	PYPL	B	0.11%	0.09%	0.09%
	QCOM	F	0.23%	0.2%	0.2%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.07%	0.06%	0.06%
	REG	A	0.02%	0.01%	0.01%
	REGN	F	0.1%	0.09%	0.09%
	RF	A	0.03%	0.03%	0.03%
	RJF	A	0.04%	0.03%	0.03%
	RMD	C	0.04%	0.04%	0.04%
	ROK	C	0.04%	0.04%	0.04%
	ROL	B	0.02%	0.02%	0.02%
	ROP	B	0.08%	0.07%	0.07%
	ROST	D	0.06%	0.05%	0.05%
	RSG	A	0.06%	0.05%	0.05%
	RTX	D	0.2%	0.17%	0.17%
	RVTY	F	0.02%	0.02%	0.02%
	SBAC	D	0.03%	0.03%	0.03%
	SBUX	A	0.14%	0.12%	0.12%
	SCHW	B	0.15%	0.13%	0.13%
	SHW	B	0.11%	0.1%	0.1%
	SJM	D	0.01%	0.01%	0.01%
	SLB	C	0.08%	0.07%	0.07%
	SMCI	F	0.02%	0.01%	0.01%
	SNA	A	0.03%	0.02%	0.02%
	SNPS	B	0.1%	0.09%	0.09%
	SO	C	0.12%	0.1%	0.1%
	SOLV	D	0.01%	0.01%	0.01%
	SPG	A	0.08%	0.06%	0.06%
	SPGI	C	0.21%	0.18%	0.18%
	SRE	A	0.08%	0.06%	0.06%
	STE	D	0.03%	0.02%	0.02%
	STLD	B	0.03%	0.02%	0.02%
	STT	B	0.04%	0.03%	0.03%
	STX	C	0.03%	0.02%	0.02%
	STZ	D	0.05%	0.04%	0.04%
	SW	A	0.04%	0.03%	0.03%
	SWK	D	0.02%	0.01%	0.01%
	SWKS	F	0.02%	0.01%	0.01%
	SYF	B	0.03%	0.03%	0.03%
	SYK	B	0.17%	0.14%	0.14%
	SYY	D	0.05%	0.04%	0.04%
	T	A	0.21%	0.17%	0.17%
	TAP	C	0.01%	0.01%	0.01%
	TDG	D	0.09%	0.08%	0.08%
	TDY	B	0.03%	0.02%	0.02%
	TECH	F	0.01%	0.01%	0.01%
	TER	F	0.02%	0.02%	0.02%
	TFC	A	0.08%	0.07%	0.07%
	TFX	F	0.01%	0.01%	0.01%
	TGT	F	0.09%	0.08%	0.08%
	TJX	A	0.17%	0.15%	0.15%
	TMO	F	0.25%	0.22%	0.22%
	TMUS	B	0.16%	0.13%	0.13%
	TRGP	A	0.05%	0.05%	0.05%
	TRMB	B	0.02%	0.02%	0.02%
	TROW	B	0.03%	0.03%	0.03%
	TRV	B	0.07%	0.06%	0.06%
	TSCO	D	0.04%	0.03%	0.03%
	TSLA	B	1.27%	0.93%	0.93%
	TSN	B	0.02%	0.02%	0.02%
	TT	A	0.12%	0.1%	0.1%
	TTWO	A	0.04%	0.03%	0.03%
	TXN	C	0.23%	0.2%	0.2%
	TXT	D	0.02%	0.02%	0.02%
	TYL	B	0.03%	0.03%	0.03%
	UBER	F	0.17%	0.16%	0.16%
	UDR	B	0.02%	0.01%	0.01%
	UHS	D	0.02%	0.01%	0.01%
	ULTA	F	0.02%	0.02%	0.02%
	UNH	B	0.68%	0.59%	0.59%
	UNP	C	0.18%	0.15%	0.15%
	UPS	C	0.12%	0.1%	0.1%
	URI	C	0.07%	0.06%	0.06%
	USB	A	0.1%	0.08%	0.08%
	V	A	0.63%	0.56%	0.56%
	VICI	C	0.04%	0.04%	0.04%
	VLO	C	0.06%	0.05%	0.05%
	VLTO	C	0.03%	0.03%	0.03%
	VMC	B	0.05%	0.04%	0.04%
	VRSK	A	0.05%	0.04%	0.04%
	VRSN	C	0.02%	0.02%	0.02%
	VRTX	D	0.15%	0.13%	0.13%
	VST	A	0.07%	0.05%	0.05%
	VTR	B	0.03%	0.03%	0.03%
	VTRS	A	0.02%	0.02%	0.02%
	VZ	C	0.22%	0.19%	0.19%
	WAB	B	0.04%	0.04%	0.04%
	WAT	C	0.03%	0.02%	0.02%
	WBA	F	0.01%	0.01%	0.01%
	WBD	B	0.03%	0.02%	0.02%
	WDC	D	0.03%	0.02%	0.02%
	WEC	A	0.04%	0.03%	0.03%
	WELL	A	0.11%	0.08%	0.08%
	WFC	A	0.33%	0.27%	0.27%
	WM	B	0.11%	0.09%	0.09%
	WMB	A	0.09%	0.07%	0.07%
	WMT	A	0.49%	0.4%	0.4%
	WRB	A	0.02%	0.02%	0.02%
	WST	C	0.03%	0.03%	0.03%
	WTW	B	0.04%	0.03%	0.03%
	WY	F	0.03%	0.02%	0.02%
	WYNN	C	0.01%	0.01%	0.01%
	XEL	A	0.05%	0.04%	0.04%
	XOM	B	0.68%	0.58%	0.58%
	XYL	D	0.04%	0.03%	0.03%
	YUM	D	0.05%	0.04%	0.04%
	ZBH	C	0.03%	0.02%	0.02%
	ZBRA	B	0.02%	0.02%	0.02%
	ZTS	D	0.1%	0.09%	0.09%

ACWI Overweight 132 Positions Relative to PHDG

	Symbol	Grade	Weight
	TM	F	0.23%
	BABA	D	0.21%
	MUFG	B	0.17%
	SONY	B	0.15%
	MELI	C	0.11%
	HDB	C	0.11%
	SMFG	B	0.11%
	MRVL	B	0.1%
	IBN	C	0.1%
	APO	B	0.09%
	MSTR	B	0.09%
	CRH	A	0.09%
	COIN	C	0.08%
	APP	B	0.08%
	LNG	A	0.07%
	TTD	B	0.07%
	DASH	B	0.07%
	WDAY	B	0.07%
	MFG	A	0.07%
	TEL	B	0.06%
	FLUT	A	0.06%
	WCN	A	0.06%
	VRT	B	0.06%
	SQ	A	0.06%
	DDOG	A	0.05%
	TEAM	A	0.05%
	SNOW	B	0.05%
	HMC	F	0.05%
	FERG	B	0.05%
	TPL	A	0.04%
	NET	B	0.04%
	ALNY	D	0.04%
	VEEV	C	0.04%
	ARES	A	0.04%
	HUBS	A	0.04%
	TCOM	B	0.04%
	COO	D	0.03%
	LII	A	0.03%
	MDB	B	0.03%
	ILMN	C	0.03%
	CSL	C	0.03%
	MKL	A	0.03%
	LPLA	A	0.03%
	FCNCA	A	0.03%
	EME	A	0.03%
	BIDU	F	0.03%
	RBLX	C	0.03%
	DKS	D	0.02%
	ELS	C	0.02%
	OKTA	C	0.02%
	AMH	C	0.02%
	Z	A	0.02%
	WPC	C	0.02%
	AVTR	F	0.02%
	HEI	A	0.02%
	DT	D	0.02%
	CHT	C	0.02%
	LI	F	0.02%
	TOST	B	0.02%
	ACM	B	0.02%
	GGG	B	0.02%
	ENTG	D	0.02%
	UTHR	C	0.02%
	TW	A	0.02%
	SSNC	B	0.02%
	HEI	A	0.02%
	GLPI	C	0.02%
	TWLO	A	0.02%
	FWONK	A	0.02%
	UMC	F	0.02%
	DOCU	B	0.02%
	PSTG	D	0.02%
	FNF	B	0.02%
	MANH	D	0.02%
	SUI	C	0.02%
	RPM	A	0.02%
	OC	A	0.02%
	BURL	B	0.02%
	YUMC	C	0.02%
	PINS	F	0.02%
	EQH	C	0.02%
	RS	B	0.02%
	WSM	C	0.02%
	HOOD	B	0.02%
	WSO	A	0.02%
	DKNG	B	0.02%
	NMR	B	0.02%
	ZM	C	0.02%
	BAH	F	0.02%
	TRU	D	0.02%
	ZS	B	0.02%
	EXE	A	0.02%
	CELH	F	0.01%
	MBAVU	C	0.01%
	BILI	D	0.01%
	WLK	D	0.01%
	UHAL	D	0.01%
	H	B	0.01%
	DINO	D	0.01%
	AGCO	D	0.01%
	BBWI	C	0.01%
	ACI	C	0.01%
	NIO	F	0.01%
	AZPN	A	0.01%
	XPEV	C	0.01%
	RIVN	F	0.01%
	BIO	C	0.01%
	BSY	F	0.01%
	TTC	C	0.01%
	TME	D	0.01%
	WIT	B	0.01%
	FBIN	D	0.01%
	WTRG	B	0.01%
	RPRX	D	0.01%
	KNX	C	0.01%
	NLY	C	0.01%
	ROKU	D	0.01%
	BGNE	D	0.01%
	CNH	C	0.01%
	CHRD	D	0.01%
	ALLY	C	0.01%
	EXAS	D	0.01%
	SEIC	B	0.01%
	IOT	A	0.01%
	AFG	A	0.01%
	CCK	D	0.01%
	SNAP	D	0.01%
	CG	B	0.01%
	BMRN	F	0.01%
	OVV	B	0.01%
	NBIX	C	0.01%
	MNSO	D	0.0%

ACWI Underweight 15 Positions Relative to PHDG

	Symbol	Grade	Weight
	UAL	A	-0.03%
	FMC	D	-0.01%
	MHK	D	-0.01%
	BWA	D	-0.01%
	IVZ	B	-0.01%
	HAS	D	-0.01%
	CZR	F	-0.01%
	RL	C	-0.01%
	FRT	B	-0.01%
	GL	C	-0.01%
	PNW	A	-0.01%
	GNRC	C	-0.01%
	NCLH	B	-0.01%
	TPR	B	-0.01%
	NWS	A	-0.0%

ACWI: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Diagnostics & Research Semiconductors Asset Management Oil & Gas E&P Specialty Retail Capital Markets Software - Infrastructure Biotechnology Internet Content & Information Aerospace & Defense Banks - Regional - US REIT - Residential Specialty Chemicals Auto Manufacturers Drug Manufacturers - Major Insurance - Property & Casualty

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Dow Jones Component Electronics Telecommunications Bank Chemical Aerospace Real Estate Investment Trust Banking Medicine Semiconductor Cloud Computing Transport Mining IBD 50

PHDG: Top Represented Industries & Keywords

Industries: Diversified Industrials Software - Application Utilities - Regulated Electric Business Services Semiconductors Diagnostics & Research Asset Management Oil & Gas E&P Aerospace & Defense Banks - Regional - US Capital Markets Drug Manufacturers - Major Packaged Foods Medical Devices Medical Instruments & Supplies Specialty Retail Credit Services Health Care Plans Household & Personal Products Information Technology Services

Keywords: S&P 500 Nasdaq 100 Natural Gas Computing Electricity Insurance Dow Jones Component Electronics Chemical Medicine Real Estate Investment Trust Aerospace Telecommunications Bank Semiconductor Banking Insurance Products Petroleum Industry Transport Investment Bank