GVUS vs. PFM ETF Comparison

Comparison of Goldman Sachs MarketBeta Russell 1000 Value Equity ETF (GVUS) to PowerShares Dividend Achievers (PFM)

GVUS

Goldman Sachs MarketBeta Russell 1000 Value Equity ETF

GVUS Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in equity securities included in its underlying index, in depositary receipts representing equity securities included in its underlying index, and in underlying stocks in lieu of depositary receipts included in its underlying index. The index is designed to measure the performance of the large- and mid-capitalization value segment of U.S. equity issuers, with a capping methodology.

Grade (RS Rating)

Last Trade

$50.87

Average Daily Volume

35,490

Number of Holdings ^*

836

* may have additional holdings in another (foreign) market

PFM

PowerShares Dividend Achievers

PFM Description

The PowerShares Dividend AchieversTM Portfolio (Fund) seeks to replicate, before fees and expenses, the NASDAQ US Broad Dividend AchieversTM Index (Index), which is designed to identify a diversified group of dividend-paying companies. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise Index. These companies have increased their annual dividend for 10 or more consecutive fiscal years. The Fund and the Index are reconstituted annually in January and rebalanced quarterly in January, April, July and October. Effective December 28, 2012, the NADAQ OMX Group, Inc., replaced Mergent, Inc., as the Index Provider of the Index. Effective February 25, 2013, the name of the Index changed from Broad Dividend Achievers Index to NASDAQ US Broad Dividend Achievers Index. There will be no change to the methodology by which NASDAQ OMX Group, Inc., the Index Provider, calculates the Index. Please see the Fund’s prospectus supplement for more information. On February 25, 2013, NASDAQ took the place of the NYSE as the official Index data source.

Grade (RS Rating)

Last Trade

$47.68

Average Daily Volume

24,412

Number of Holdings ^*

416

* may have additional holdings in another (foreign) market

Performance

Period	GVUS	PFM
30 Days	2.39%	2.19%
60 Days	4.06%	2.87%
90 Days	5.58%	5.56%
12 Months		26.89%

264 Overlapping Holdings

Symbol	Grade	Weight in GVUS	Weight in PFM	Overlap
A	D	0.14%	0.16%	0.14%
ABBV	D	0.65%	1.27%	0.65%
ABT	B	0.78%	0.88%	0.78%
ACN	C	0.86%	0.95%	0.86%
ADC	B	0.03%	0.03%	0.03%
ADI	D	0.4%	0.45%	0.4%
ADM	D	0.1%	0.11%	0.1%
ADP	B	0.04%	0.53%	0.04%
AEE	A	0.09%	0.11%	0.09%
AEP	D	0.2%	0.22%	0.2%
AES	F	0.04%	0.04%	0.04%
AFG	A	0.04%	0.05%	0.04%
AFL	B	0.24%	0.27%	0.24%
AGCO	D	0.02%	0.03%	0.02%
AGO	B	0.02%	0.02%	0.02%
AIZ	A	0.04%	0.05%	0.04%
AJG	B	0.23%	0.28%	0.23%
AL	B	0.02%	0.02%	0.02%
ALB	C	0.05%	0.05%	0.05%
ALL	A	0.17%	0.23%	0.17%
AMGN	D	0.13%	0.65%	0.13%
AMP	A	0.02%	0.24%	0.02%
AON	A	0.29%	0.36%	0.29%
AOS	F	0.03%	0.04%	0.03%
APD	A	0.27%	0.32%	0.27%
APH	A	0.14%	0.37%	0.14%
ARE	D	0.07%	0.08%	0.07%
ASH	D	0.01%	0.02%	0.01%
ATO	A	0.08%	0.1%	0.08%
ATR	B	0.04%	0.05%	0.04%
AVT	C	0.02%	0.02%	0.02%
AVY	D	0.04%	0.07%	0.04%
AWK	D	0.1%	0.11%	0.1%
AXS	A	0.03%	0.03%	0.03%
BAC	A	1.23%	1.56%	1.23%
BBY	D	0.08%	0.08%	0.08%
BC	C	0.02%	0.02%	0.02%
BDX	F	0.25%	0.28%	0.25%
BEN	C	0.02%	0.05%	0.02%
BK	A	0.22%	0.25%	0.22%
BLK	C	0.6%	0.67%	0.6%
BMY	B	0.44%	0.5%	0.44%
BOKF	B	0.01%	0.03%	0.01%
BR	A	0.01%	0.12%	0.01%
BRO	B	0.06%	0.13%	0.06%
CAH	B	0.05%	0.13%	0.05%
CASY	A	0.05%	0.06%	0.05%
CAT	B	0.63%	0.81%	0.63%
CB	C	0.45%	0.5%	0.45%
CBOE	B	0.08%	0.09%	0.08%
CBSH	A	0.03%	0.04%	0.03%
CDW	F	0.05%	0.1%	0.05%
CFR	B	0.03%	0.04%	0.03%
CHD	B	0.1%	0.12%	0.1%
CHE	D	0.03%	0.04%	0.03%
CHRW	C	0.05%	0.06%	0.05%
CINF	A	0.09%	0.1%	0.09%
CL	D	0.13%	0.33%	0.13%
CMCSA	B	0.64%	0.72%	0.64%
CME	A	0.32%	0.35%	0.32%
CMI	A	0.19%	0.21%	0.19%
CMS	C	0.08%	0.09%	0.08%
CSCO	B	0.91%	1.0%	0.91%
CSL	C	0.07%	0.09%	0.07%
CSX	B	0.27%	0.29%	0.27%
CTAS	B	0.01%	0.38%	0.01%
CUBE	D	0.04%	0.05%	0.04%
CVX	A	1.08%	1.27%	1.08%
DCI	B	0.04%	0.04%	0.04%
DDS	B	0.01%	0.02%	0.01%
DFS	B	0.17%	0.19%	0.17%
DGX	A	0.07%	0.08%	0.07%
DHR	F	0.58%	0.72%	0.58%
DOV	A	0.11%	0.12%	0.11%
DPZ	C	0.04%	0.07%	0.04%
DTE	C	0.1%	0.11%	0.1%
DUK	C	0.34%	0.38%	0.34%
ECL	D	0.03%	0.3%	0.03%
ED	D	0.13%	0.14%	0.13%
EGP	F	0.03%	0.04%	0.03%
EIX	B	0.12%	0.14%	0.12%
ELS	C	0.05%	0.06%	0.05%
ELV	F	0.31%	0.4%	0.31%
EMN	D	0.05%	0.05%	0.05%
EMR	A	0.28%	0.32%	0.28%
ES	D	0.08%	0.1%	0.08%
ESS	B	0.08%	0.08%	0.08%
ETN	A	0.56%	0.62%	0.56%
EVR	B	0.04%	0.05%	0.04%
EVRG	A	0.06%	0.06%	0.06%
EXPD	D	0.06%	0.07%	0.06%
EXR	D	0.13%	0.15%	0.13%
FAF	A	0.03%	0.03%	0.03%
FAST	B	0.03%	0.2%	0.03%
FDS	B	0.05%	0.08%	0.05%
FITB	A	0.12%	0.14%	0.12%
FLO	D	0.02%	0.02%	0.02%
FNF	B	0.06%	0.07%	0.06%
FR	C	0.03%	0.03%	0.03%
GD	F	0.31%	0.34%	0.31%
GGG	B	0.06%	0.07%	0.06%
GL	B	0.04%	0.04%	0.04%
GLW	B	0.14%	0.17%	0.14%
GPC	D	0.07%	0.07%	0.07%
GS	A	0.53%	0.8%	0.53%
GWW	B	0.03%	0.25%	0.03%
HD	A	0.32%	1.76%	0.32%
HIG	B	0.13%	0.15%	0.13%
HII	D	0.03%	0.03%	0.03%
HON	B	0.49%	0.64%	0.49%
HPQ	B	0.11%	0.16%	0.11%
HRL	D	0.03%	0.07%	0.03%
HSY	F	0.08%	0.11%	0.08%
HUBB	B	0.09%	0.1%	0.09%
HUM	C	0.13%	0.14%	0.13%
IBM	C	0.73%	0.83%	0.73%
ICE	C	0.34%	0.39%	0.34%
IDA	A	0.02%	0.03%	0.02%
IEX	B	0.07%	0.07%	0.07%
INGR	B	0.04%	0.04%	0.04%
IPG	D	0.04%	0.04%	0.04%
ITT	A	0.05%	0.05%	0.05%
ITW	B	0.19%	0.35%	0.19%
JBHT	C	0.06%	0.08%	0.06%
JKHY	D	0.05%	0.05%	0.05%
JNJ	D	1.44%	1.61%	1.44%
JPM	A	2.73%	3.01%	2.73%
KEY	B	0.07%	0.08%	0.07%
KMB	D	0.1%	0.2%	0.1%
KO	D	0.4%	1.15%	0.4%
KR	B	0.15%	0.18%	0.15%
LAD	A	0.04%	0.04%	0.04%
LECO	B	0.03%	0.05%	0.03%
LFUS	F	0.02%	0.03%	0.02%
LHX	C	0.18%	0.2%	0.18%
LIN	D	0.84%	0.93%	0.84%
LMT	D	0.3%	0.55%	0.3%
LNT	A	0.06%	0.07%	0.06%
LOW	D	0.6%	0.66%	0.6%
LYB	F	0.08%	0.12%	0.08%
MAA	B	0.07%	0.08%	0.07%
MAN	D	0.01%	0.01%	0.01%
MAS	D	0.07%	0.07%	0.07%
MCD	D	0.77%	0.9%	0.77%
MCHP	D	0.13%	0.15%	0.13%
MCK	B	0.17%	0.34%	0.17%
MDLZ	F	0.34%	0.37%	0.34%
MDT	D	0.44%	0.48%	0.44%
MDU	D	0.01%	0.02%	0.01%
MET	A	0.19%	0.25%	0.19%
MKC	D	0.07%	0.08%	0.07%
MKTX	D	0.04%	0.04%	0.04%
MMC	B	0.37%	0.48%	0.37%
MMM	D	0.23%	0.31%	0.23%
MO	A	0.37%	0.41%	0.37%
MS	A	0.57%	0.94%	0.57%
MSA	D	0.02%	0.03%	0.02%
MSI	B	0.16%	0.35%	0.16%
NDAQ	A	0.13%	0.2%	0.13%
NDSN	B	0.06%	0.06%	0.06%
NEE	D	0.61%	0.68%	0.61%
NFG	A	0.02%	0.02%	0.02%
NI	A	0.06%	0.07%	0.06%
NKE	D	0.14%	0.39%	0.14%
NNN	D	0.03%	0.03%	0.03%
NOC	D	0.26%	0.31%	0.26%
NUE	C	0.14%	0.15%	0.14%
NXST	C	0.01%	0.02%	0.01%
O	D	0.19%	0.21%	0.19%
OGE	B	0.03%	0.04%	0.03%
ORI	A	0.04%	0.04%	0.04%
OSK	B	0.03%	0.03%	0.03%
OZK	B	0.02%	0.02%	0.02%
PAYX	C	0.11%	0.22%	0.11%
PB	A	0.03%	0.03%	0.03%
PEG	A	0.17%	0.19%	0.17%
PEP	F	0.18%	0.94%	0.18%
PFE	D	0.55%	0.61%	0.55%
PFG	D	0.08%	0.09%	0.08%
PG	A	1.21%	1.73%	1.21%
PII	D	0.01%	0.02%	0.01%
PKG	A	0.08%	0.09%	0.08%
PLD	D	0.41%	0.46%	0.41%
PM	B	0.78%	0.88%	0.78%
PNC	B	0.32%	0.35%	0.32%
PNW	B	0.04%	0.04%	0.04%
PPG	F	0.11%	0.12%	0.11%
PRGO	B	0.01%	0.02%	0.01%
PRI	A	0.04%	0.04%	0.04%
PRU	A	0.18%	0.2%	0.18%
PSX	C	0.21%	0.24%	0.21%
QCOM	F	0.04%	0.79%	0.04%
R	B	0.03%	0.03%	0.03%
REG	B	0.05%	0.06%	0.05%
REXR	F	0.04%	0.04%	0.04%
RF	A	0.09%	0.1%	0.09%
RGA	A	0.06%	0.07%	0.06%
RGLD	C	0.04%	0.04%	0.04%
RHI	B	0.03%	0.03%	0.03%
RJF	A	0.12%	0.15%	0.12%
RLI	B	0.03%	0.03%	0.03%
RMD	C	0.1%	0.15%	0.1%
RNR	C	0.05%	0.06%	0.05%
ROK	B	0.12%	0.14%	0.12%
ROP	B	0.23%	0.26%	0.23%
RPM	A	0.05%	0.08%	0.05%
RRX	B	0.04%	0.05%	0.04%
RS	B	0.07%	0.07%	0.07%
RSG	A	0.17%	0.28%	0.17%
RTX	C	0.61%	0.69%	0.61%
SBUX	A	0.1%	0.49%	0.1%
SCI	B	0.05%	0.05%	0.05%
SEIC	B	0.03%	0.05%	0.03%
SHW	A	0.03%	0.41%	0.03%
SJM	D	0.04%	0.05%	0.04%
SLGN	A	0.02%	0.02%	0.02%
SNA	A	0.07%	0.08%	0.07%
SO	D	0.37%	0.42%	0.37%
SON	D	0.02%	0.02%	0.02%
SPGI	C	0.61%	0.68%	0.61%
SRE	A	0.23%	0.25%	0.23%
SSD	D	0.03%	0.03%	0.03%
STAG	F	0.03%	0.03%	0.03%
STE	F	0.08%	0.09%	0.08%
STLD	B	0.08%	0.09%	0.08%
STT	A	0.11%	0.12%	0.11%
SWK	D	0.05%	0.06%	0.05%
SYK	C	0.39%	0.64%	0.39%
SYY	B	0.06%	0.16%	0.06%
TFC	A	0.24%	0.27%	0.24%
TGT	F	0.27%	0.31%	0.27%
THG	A	0.02%	0.03%	0.02%
THO	B	0.02%	0.03%	0.02%
TKR	D	0.02%	0.02%	0.02%
TROW	B	0.1%	0.11%	0.1%
TRV	B	0.23%	0.26%	0.23%
TSN	B	0.07%	0.08%	0.07%
TT	A	0.24%	0.4%	0.24%
TTC	D	0.03%	0.04%	0.03%
TXN	C	0.63%	0.82%	0.63%
UDR	B	0.06%	0.06%	0.06%
UGI	A	0.02%	0.02%	0.02%
UNH	C	1.98%	2.35%	1.98%
UNM	A	0.05%	0.06%	0.05%
UNP	C	0.29%	0.62%	0.29%
UPS	C	0.38%	0.43%	0.38%
USB	A	0.3%	0.34%	0.3%
VMC	B	0.11%	0.16%	0.11%
VZ	C	0.68%	0.77%	0.68%
WBA	F	0.02%	0.03%	0.02%
WEC	A	0.12%	0.13%	0.12%
WLK	D	0.02%	0.07%	0.02%
WMT	A	1.42%	2.92%	1.42%
WRB	A	0.07%	0.1%	0.07%
WSM	B	0.03%	0.07%	0.03%
WSO	A	0.07%	0.08%	0.07%
WST	C	0.03%	0.1%	0.03%
WTFC	A	0.03%	0.04%	0.03%
WTRG	B	0.04%	0.05%	0.04%
XEL	A	0.15%	0.17%	0.15%
XOM	B	2.08%	2.31%	2.08%
XYL	D	0.11%	0.13%	0.11%
ZION	B	0.03%	0.04%	0.03%
ZTS	D	0.05%	0.35%	0.05%

GVUS Overweight 572 Positions Relative to PFM

Symbol	Grade	Weight
BRK.A	B	3.35%
WFC	A	1.01%
DIS	B	0.82%
TMO	F	0.76%
T	A	0.63%
GE	D	0.59%
COP	C	0.51%
C	A	0.51%
BSX	B	0.5%
TMUS	B	0.44%
GILD	C	0.43%
SCHW	B	0.42%
MU	D	0.41%
INTC	D	0.4%
DE	A	0.39%
AXP	A	0.39%
PH	A	0.35%
GEV	B	0.35%
PYPL	B	0.34%
CI	F	0.32%
WELL	A	0.32%
FI	A	0.32%
EQIX	A	0.31%
BA	F	0.31%
EOG	A	0.3%
AMD	F	0.29%
KKR	A	0.28%
REGN	F	0.28%
WMB	A	0.27%
MRVL	B	0.27%
COF	B	0.27%
FDX	B	0.26%
CVS	D	0.26%
GM	B	0.25%
MAR	B	0.25%
OKE	A	0.25%
FCX	D	0.24%
SLB	C	0.24%
CARR	D	0.24%
DLR	B	0.23%
NSC	B	0.23%
CEG	D	0.23%
VRTX	F	0.23%
MPC	D	0.22%
TJX	A	0.22%
JCI	C	0.22%
PCAR	B	0.22%
KMI	A	0.21%
TDG	D	0.21%
DHI	D	0.19%
D	C	0.19%
HCA	F	0.19%
AIG	B	0.19%
FIS	C	0.19%
MSTR	C	0.19%
PCG	A	0.18%
CCI	D	0.18%
KVUE	A	0.18%
CRM	B	0.18%
NEM	D	0.18%
HWM	A	0.17%
BKR	B	0.17%
EA	A	0.17%
F	C	0.17%
SPG	B	0.17%
URI	B	0.17%
PSA	D	0.17%
AME	A	0.17%
VLO	C	0.17%
CBRE	B	0.16%
OTIS	C	0.16%
LEN	D	0.16%
DAL	C	0.16%
IR	B	0.16%
STZ	D	0.15%
CTSH	B	0.15%
CTVA	C	0.15%
EXC	C	0.15%
GIS	D	0.14%
KDP	D	0.14%
ROST	C	0.14%
MTB	A	0.14%
RCL	A	0.14%
ACGL	D	0.14%
CHTR	C	0.14%
AVB	B	0.13%
PWR	A	0.13%
GEHC	F	0.13%
EW	C	0.13%
VICI	C	0.13%
FANG	D	0.13%
OXY	D	0.13%
MLM	B	0.13%
DD	D	0.13%
WAB	B	0.13%
HLT	A	0.12%
TTWO	A	0.12%
UAL	A	0.12%
DELL	C	0.12%
CNC	D	0.12%
IQV	D	0.12%
DOW	F	0.12%
EBAY	D	0.12%
ETR	B	0.12%
GRMN	B	0.12%
WTW	B	0.12%
SQ	B	0.11%
HPE	B	0.11%
KHC	F	0.11%
EQR	B	0.11%
ON	D	0.11%
CSGP	D	0.11%
ANSS	B	0.11%
GPN	B	0.11%
MTD	D	0.1%
PPL	B	0.1%
NVR	D	0.1%
HBAN	A	0.1%
SYF	B	0.1%
VTR	C	0.1%
KEYS	A	0.1%
HAL	C	0.1%
FTV	C	0.1%
PHM	D	0.1%
SW	A	0.1%
FCNCA	A	0.1%
IFF	D	0.09%
WBD	C	0.09%
WY	D	0.09%
ZBH	C	0.09%
YUM	B	0.09%
PGR	A	0.09%
BIIB	F	0.09%
EQT	B	0.09%
SBAC	D	0.09%
FE	C	0.09%
LNG	B	0.09%
DVN	F	0.09%
CCL	B	0.09%
EFX	F	0.09%
MSCI	C	0.08%
LUV	C	0.08%
CNP	B	0.08%
LH	C	0.08%
IP	B	0.08%
FSLR	F	0.08%
WDC	D	0.08%
INVH	D	0.08%
K	A	0.08%
ZM	B	0.08%
CFG	B	0.08%
NTRS	A	0.08%
HOOD	B	0.08%
APO	B	0.08%
ILMN	D	0.08%
TDY	B	0.08%
LDOS	C	0.08%
OC	A	0.07%
RBA	A	0.07%
TRMB	B	0.07%
J	F	0.07%
PNR	A	0.07%
TRU	D	0.07%
HOLX	D	0.07%
BALL	D	0.07%
IBKR	A	0.07%
OMC	C	0.07%
CTRA	B	0.07%
BLDR	D	0.07%
EWBC	A	0.06%
VRSN	F	0.06%
IRM	D	0.06%
HES	B	0.06%
APTV	D	0.06%
ACM	A	0.06%
AMCR	D	0.06%
THC	D	0.06%
DOC	D	0.06%
USFD	A	0.06%
MKL	A	0.06%
L	A	0.06%
VTRS	A	0.06%
ZBRA	B	0.06%
SUI	D	0.06%
SSNC	B	0.06%
TXT	D	0.06%
TOL	B	0.06%
CF	B	0.06%
UTHR	C	0.06%
MRO	B	0.06%
GEN	B	0.06%
BAX	D	0.06%
KIM	A	0.06%
CVNA	B	0.06%
DG	F	0.06%
Z	A	0.05%
UHS	D	0.05%
JNPR	F	0.05%
OVV	B	0.05%
SOFI	A	0.05%
MRNA	F	0.05%
BMRN	D	0.05%
NVT	B	0.05%
NTNX	A	0.05%
FTI	A	0.05%
HST	C	0.05%
ALLE	D	0.05%
WPC	D	0.05%
EPAM	C	0.05%
CLH	B	0.05%
CPT	B	0.05%
BXP	D	0.05%
AMH	D	0.05%
CAG	D	0.05%
BG	F	0.05%
AFRM	B	0.05%
COHR	B	0.05%
GLPI	C	0.05%
JBL	B	0.05%
TPR	B	0.05%
AKAM	D	0.05%
DLTR	F	0.05%
NTAP	C	0.05%
EG	C	0.05%
SWKS	F	0.05%
RVTY	F	0.05%
TWLO	A	0.05%
CW	B	0.05%
FFIV	B	0.05%
EME	C	0.05%
VLTO	D	0.05%
AVTR	F	0.05%
TFX	F	0.04%
TW	A	0.04%
WCC	B	0.04%
GMED	A	0.04%
QGEN	D	0.04%
CMA	A	0.04%
BWXT	B	0.04%
FBIN	D	0.04%
FRT	B	0.04%
SOLV	C	0.04%
BRBR	A	0.04%
DRI	B	0.04%
EL	F	0.04%
PNFP	B	0.04%
AYI	B	0.04%
CNH	C	0.04%
JEF	A	0.04%
CIEN	B	0.04%
DOX	D	0.04%
WAL	B	0.04%
COIN	C	0.04%
CRL	C	0.04%
EHC	B	0.04%
DTM	B	0.04%
DAY	B	0.04%
OHI	C	0.04%
GME	C	0.04%
ARMK	B	0.04%
RPRX	D	0.04%
BLD	D	0.04%
WWD	B	0.04%
LKQ	D	0.04%
BKNG	A	0.04%
WBS	A	0.04%
DKS	C	0.04%
ALSN	B	0.04%
CACI	D	0.04%
FOXA	B	0.04%
TECH	D	0.04%
CCK	C	0.04%
CTLT	B	0.04%
PFGC	B	0.04%
NWSA	B	0.04%
FTNT	C	0.04%
TAP	C	0.04%
AA	B	0.04%
CG	A	0.04%
FHN	A	0.04%
NRG	B	0.04%
INCY	C	0.04%
SF	B	0.04%
AMAT	F	0.04%
KMX	B	0.04%
BJ	A	0.04%
COLB	A	0.03%
CGNX	C	0.03%
IVZ	B	0.03%
KBR	F	0.03%
LSTR	D	0.03%
BILL	A	0.03%
ALGN	D	0.03%
AGNC	D	0.03%
MKSI	C	0.03%
MTG	C	0.03%
HRB	D	0.03%
VMI	B	0.03%
ALK	C	0.03%
WEX	D	0.03%
DAR	C	0.03%
DINO	D	0.03%
FMC	D	0.03%
FND	C	0.03%
MTSI	B	0.03%
FCN	D	0.03%
ELAN	D	0.03%
GXO	B	0.03%
ATI	D	0.03%
GNTX	C	0.03%
COKE	C	0.03%
ESAB	B	0.03%
WH	B	0.03%
VNO	B	0.03%
VFC	C	0.03%
BBWI	D	0.03%
MIDD	C	0.03%
PR	B	0.03%
LBRDK	C	0.03%
LW	C	0.03%
ROKU	D	0.03%
JAZZ	B	0.03%
MNST	C	0.03%
KEX	C	0.03%
DASH	A	0.03%
MHK	D	0.03%
SKX	D	0.03%
BERY	B	0.03%
G	B	0.03%
CRBG	B	0.03%
FLS	B	0.03%
RIVN	F	0.03%
CHRD	D	0.03%
MTCH	D	0.03%
RRC	B	0.03%
ACI	C	0.03%
BWA	D	0.03%
CZR	F	0.03%
X	C	0.03%
APG	B	0.03%
RL	B	0.03%
APA	D	0.03%
TKO	B	0.03%
SNV	B	0.03%
FICO	B	0.03%
LAMR	D	0.03%
HLI	B	0.03%
WAT	B	0.03%
VOYA	B	0.03%
CPB	D	0.03%
NYT	C	0.03%
MOS	F	0.03%
CR	A	0.03%
MTZ	B	0.03%
ALLY	C	0.03%
JLL	D	0.03%
FYBR	D	0.03%
GWRE	A	0.03%
GPK	C	0.03%
WYNN	D	0.03%
TTEK	F	0.03%
BRX	A	0.03%
MGM	D	0.03%
SNX	C	0.03%
KNX	B	0.03%
AAL	B	0.03%
HSIC	B	0.03%
PTC	A	0.03%
AR	B	0.03%
RBC	A	0.03%
AXTA	A	0.03%
OGN	D	0.02%
NWL	B	0.02%
SITE	D	0.02%
WTM	A	0.02%
HOG	D	0.02%
TPG	A	0.02%
PAYC	B	0.02%
DLB	B	0.02%
AN	C	0.02%
M	D	0.02%
GTES	A	0.02%
KMPR	B	0.02%
GAP	C	0.02%
AWI	A	0.02%
EEFT	B	0.02%
RYN	D	0.02%
PSN	D	0.02%
WSC	D	0.02%
AZO	C	0.02%
KRC	C	0.02%
CUZ	B	0.02%
DBX	B	0.02%
ST	F	0.02%
CROX	D	0.02%
ROIV	C	0.02%
FRPT	B	0.02%
HXL	D	0.02%
SEE	C	0.02%
OLN	D	0.02%
BYD	C	0.02%
BFAM	D	0.02%
POST	C	0.02%
GNRC	B	0.02%
SLM	A	0.02%
SN	D	0.02%
LEA	D	0.02%
WMS	D	0.02%
LITE	B	0.02%
CRUS	D	0.02%
EXAS	D	0.02%
ORLY	B	0.02%
RGEN	D	0.02%
OLLI	D	0.02%
DOCS	C	0.02%
FOX	A	0.02%
JHG	A	0.02%
H	B	0.02%
ONTO	D	0.02%
SAIA	B	0.02%
PVH	C	0.02%
FNB	A	0.02%
XP	F	0.02%
VNT	B	0.02%
STWD	C	0.02%
WHR	B	0.02%
AMG	B	0.02%
S	B	0.02%
CE	F	0.02%
BPOP	B	0.02%
BIO	D	0.02%
ARW	D	0.02%
MTDR	B	0.02%
COLD	D	0.02%
ESI	A	0.02%
LNC	B	0.02%
NOV	C	0.02%
OKTA	C	0.02%
SIRI	C	0.02%
MOH	F	0.02%
OMF	A	0.02%
QRVO	F	0.02%
KD	B	0.02%
SAIC	F	0.02%
MAT	D	0.02%
PARA	C	0.02%
TER	D	0.01%
SNDR	B	0.01%
TRIP	F	0.01%
REYN	D	0.01%
FTRE	D	0.01%
QS	F	0.01%
WEN	D	0.01%
LEG	F	0.01%
EXEL	B	0.01%
CNXC	F	0.01%
UA	C	0.01%
LCID	F	0.01%
CLVT	F	0.01%
BIRK	D	0.01%
SHC	F	0.01%
ADTN	A	0.01%
LEN	D	0.01%
VSTS	C	0.01%
RKT	F	0.01%
CRI	D	0.01%
PPC	C	0.01%
AZEK	A	0.01%
BRKR	D	0.01%
PSTG	D	0.01%
GO	C	0.01%
KSS	F	0.01%
ETSY	D	0.01%
LYFT	C	0.01%
MP	B	0.01%
IPGP	D	0.01%
GLOB	B	0.01%
UAA	C	0.01%
RCM	F	0.01%
AAP	C	0.01%
SAM	C	0.01%
AZTA	D	0.01%
YETI	C	0.01%
ULTA	F	0.01%
PINC	B	0.01%
ALGM	D	0.01%
HHH	B	0.01%
CPRI	F	0.01%
LPX	B	0.01%
CNM	D	0.01%
CWEN	C	0.01%
EXP	A	0.01%
JWN	C	0.01%
HAYW	B	0.01%
ENOV	C	0.01%
MPW	F	0.01%
SPB	C	0.01%
BROS	B	0.01%
CC	C	0.01%
AGR	B	0.01%
CXT	B	0.01%
COTY	F	0.01%
COLM	B	0.01%
VIRT	B	0.01%
AMKR	D	0.01%
U	C	0.01%
AMED	F	0.01%
PAG	B	0.01%
WU	D	0.01%
PK	B	0.01%
IRDM	D	0.01%
SPR	D	0.01%
PENN	C	0.01%
NSA	D	0.01%
LOPE	B	0.01%
SMG	D	0.01%
VAC	B	0.01%
ZI	D	0.01%
HUN	F	0.01%
MASI	A	0.01%
ZG	A	0.01%
EPR	D	0.01%
ALNY	D	0.01%
CPRT	A	0.01%
BHF	B	0.01%
ACHC	F	0.01%
AM	A	0.01%
FHB	A	0.01%
CLF	F	0.01%
UHAL	D	0.01%
IAC	D	0.01%
HIW	D	0.01%
NVST	B	0.01%
W	F	0.01%
NWS	B	0.01%
NEU	C	0.01%
OLED	D	0.01%
GFS	C	0.01%
TNL	A	0.01%
MSM	C	0.01%
CIVI	D	0.01%
TYL	B	0.01%
MSGS	A	0.01%
DNB	B	0.01%
DXC	B	0.01%
PLNT	A	0.01%
XRAY	F	0.01%
RH	B	0.01%
SEG	B	0.0%
UWMC	D	0.0%
IONS	F	0.0%
TXG	F	0.0%
CACC	D	0.0%
DJT	C	0.0%
SEB	F	0.0%
PATH	C	0.0%
PYCR	C	0.0%
HCP	B	0.0%
WOLF	F	0.0%
CERT	F	0.0%
LSCC	D	0.0%
TFSL	A	0.0%
FIVE	F	0.0%
MTN	C	0.0%
CAR	C	0.0%
CNA	B	0.0%
HAS	D	0.0%
INFA	D	0.0%
LBRDA	C	0.0%
CWEN	C	0.0%
DV	C	0.0%
NCNO	B	0.0%

GVUS Underweight 152 Positions Relative to PFM

Symbol	Grade	Weight
MSFT	F	-3.91%
AAPL	C	-3.9%
AVGO	D	-3.32%
V	A	-2.25%
ORCL	B	-2.21%
MA	C	-2.06%
COST	B	-1.76%
MRK	F	-1.06%
INTU	C	-0.82%
AMT	D	-0.4%
WM	A	-0.38%
MCO	B	-0.37%
KLAC	D	-0.36%
EPD	A	-0.29%
COR	B	-0.21%
MPLX	A	-0.21%
TSCO	D	-0.13%
CLX	B	-0.09%
LII	A	-0.09%
BAH	F	-0.08%
ERIE	D	-0.08%
FIX	A	-0.07%
POOL	C	-0.06%
MORN	B	-0.06%
HEI	B	-0.06%
ENSG	D	-0.04%
AIT	A	-0.04%
CHDN	B	-0.04%
TRNO	F	-0.03%
FFIN	B	-0.03%
UMBF	B	-0.03%
SIGI	C	-0.03%
CBT	C	-0.03%
HOMB	A	-0.03%
BMI	B	-0.03%
CADE	B	-0.03%
SSB	B	-0.03%
UFPI	B	-0.03%
WSFS	A	-0.02%
CBU	B	-0.02%
SR	A	-0.02%
MGEE	C	-0.02%
GFF	A	-0.02%
AUB	B	-0.02%
CCOI	B	-0.02%
WDFC	B	-0.02%
BANF	B	-0.02%
ASB	B	-0.02%
FUL	F	-0.02%
CNO	A	-0.02%
BKH	A	-0.02%
IBOC	A	-0.02%
AVNT	B	-0.02%
POR	C	-0.02%
KAI	A	-0.02%
NJR	A	-0.02%
EXPO	D	-0.02%
FELE	B	-0.02%
LANC	C	-0.02%
CNS	B	-0.02%
MATX	C	-0.02%
GATX	A	-0.02%
SWX	B	-0.02%
UBSI	B	-0.02%
BCPC	B	-0.02%
WTS	B	-0.02%
MSEX	B	-0.01%
GABC	B	-0.01%
TR	B	-0.01%
UVV	B	-0.01%
LNN	B	-0.01%
WABC	B	-0.01%
NWN	A	-0.01%
CSGS	B	-0.01%
TCBK	B	-0.01%
STBA	B	-0.01%
SRCE	B	-0.01%
ANDE	D	-0.01%
TNC	D	-0.01%
HMN	B	-0.01%
DKL	C	-0.01%
SCL	C	-0.01%
GTY	B	-0.01%
SJW	D	-0.01%
APOG	B	-0.01%
LKFN	B	-0.01%
NHC	C	-0.01%
CHCO	B	-0.01%
AGM	C	-0.01%
WOR	F	-0.01%
WSBC	A	-0.01%
SYBT	B	-0.01%
HI	C	-0.01%
NBTB	B	-0.01%
LMAT	A	-0.01%
MTRN	C	-0.01%
SXI	B	-0.01%
HNI	B	-0.01%
FRME	B	-0.01%
TOWN	B	-0.01%
HWKN	B	-0.01%
NSP	D	-0.01%
ABR	C	-0.01%
CPK	A	-0.01%
CWT	D	-0.01%
WAFD	B	-0.01%
IOSP	B	-0.01%
AVA	A	-0.01%
INDB	B	-0.01%
SFNC	B	-0.01%
TRN	C	-0.01%
KWR	C	-0.01%
AWR	B	-0.01%
BRC	D	-0.01%
JJSF	B	-0.01%
OTTR	C	-0.01%
NWE	B	-0.01%
POWI	D	-0.01%
FIBK	A	-0.01%
ABM	B	-0.01%
JOUT	D	-0.0%
FLIC	B	-0.0%
ARTNA	D	-0.0%
HVT	D	-0.0%
ODC	C	-0.0%
BMRC	B	-0.0%
CTO	B	-0.0%
YORW	D	-0.0%
AROW	B	-0.0%
UHT	D	-0.0%
THFF	B	-0.0%
PLOW	D	-0.0%
HIFS	B	-0.0%
CASS	B	-0.0%
SPTN	D	-0.0%
WASH	C	-0.0%
MATW	C	-0.0%
GSBC	B	-0.0%
SMBC	B	-0.0%
HY	D	-0.0%
MBWM	B	-0.0%
HBNC	B	-0.0%
MNRO	D	-0.0%
FCBC	B	-0.0%
HFWA	B	-0.0%
SCVL	F	-0.0%
PFC	A	-0.0%
GRC	A	-0.0%
SBSI	B	-0.0%
CTBI	B	-0.0%
TMP	B	-0.0%
AMSF	B	-0.0%