PBUS vs. PHDG ETF Comparison

Comparison of Invesco PureBeta MSCI USA ETF (PBUS) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

PBUS

Invesco PureBeta MSCI USA ETF

PBUS Description

The investment seeks to track the investment results (before fees and expenses) of the MSCI USA Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The index is designed to measure the performance of the large- and mid-capitalization segments of the U.S. equity market.

Grade (RS Rating)

Last Trade

$59.94

Average Daily Volume

175,980

Number of Holdings ^*

584

* 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

$38.30

Average Daily Volume

12,482

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

Performance

Period	PBUS	PHDG
30 Days	3.61%	0.66%
60 Days	5.14%	1.51%
90 Days	6.91%	1.58%
12 Months	33.43%	18.52%

484 Overlapping Holdings

	Symbol	Grade	Weight in PBUS	Weight in PHDG	Overlap
	A	D	0.07%	0.04%	0.04%
	AAPL	C	6.43%	3.74%	3.74%
	ABBV	D	0.57%	0.32%	0.32%
	ABNB	C	0.12%	0.06%	0.06%
	ABT	B	0.39%	0.22%	0.22%
	ACGL	D	0.07%	0.04%	0.04%
	ACN	C	0.43%	0.24%	0.24%
	ADBE	C	0.43%	0.25%	0.25%
	ADI	D	0.2%	0.11%	0.11%
	ADM	D	0.05%	0.03%	0.03%
	ADP	B	0.24%	0.13%	0.13%
	ADSK	A	0.13%	0.07%	0.07%
	AEE	A	0.05%	0.03%	0.03%
	AEP	D	0.1%	0.05%	0.05%
	AES	F	0.02%	0.01%	0.01%
	AFL	B	0.11%	0.06%	0.06%
	AIG	B	0.1%	0.05%	0.05%
	AIZ	A	0.02%	0.01%	0.01%
	AJG	B	0.12%	0.07%	0.07%
	AKAM	D	0.03%	0.01%	0.01%
	ALB	C	0.02%	0.01%	0.01%
	ALGN	D	0.03%	0.02%	0.02%
	ALL	A	0.1%	0.06%	0.06%
	ALLE	D	0.02%	0.01%	0.01%
	AMAT	F	0.27%	0.17%	0.17%
	AMCR	D	0.03%	0.02%	0.02%
	AMD	F	0.43%	0.24%	0.24%
	AME	A	0.09%	0.05%	0.05%
	AMGN	D	0.3%	0.17%	0.17%
	AMP	A	0.11%	0.06%	0.06%
	AMT	D	0.18%	0.1%	0.1%
	AMZN	C	3.66%	2.13%	2.13%
	ANET	C	0.2%	0.11%	0.11%
	ANSS	B	0.06%	0.03%	0.03%
	AON	A	0.14%	0.09%	0.09%
	AOS	F	0.02%	0.01%	0.01%
	APA	D	0.02%	0.01%	0.01%
	APD	A	0.14%	0.08%	0.08%
	APH	A	0.16%	0.09%	0.09%
	APTV	D	0.03%	0.02%	0.02%
	ARE	D	0.03%	0.02%	0.02%
	ATO	A	0.04%	0.02%	0.02%
	AVB	B	0.06%	0.03%	0.03%
	AVGO	D	1.39%	0.86%	0.86%
	AVY	D	0.03%	0.02%	0.02%
	AWK	D	0.05%	0.03%	0.03%
	AXON	A	0.08%	0.05%	0.05%
	AXP	A	0.32%	0.17%	0.17%
	AZO	C	0.1%	0.06%	0.06%
	BA	F	0.2%	0.11%	0.11%
	BAC	A	0.62%	0.33%	0.33%
	BALL	D	0.04%	0.02%	0.02%
	BAX	D	0.03%	0.02%	0.02%
	BBY	D	0.03%	0.02%	0.02%
	BDX	F	0.12%	0.07%	0.07%
	BEN	C	0.01%	0.01%	0.01%
	BG	F	0.02%	0.01%	0.01%
	BIIB	F	0.04%	0.03%	0.03%
	BK	A	0.11%	0.06%	0.06%
	BKNG	A	0.33%	0.18%	0.18%
	BKR	B	0.09%	0.05%	0.05%
	BLDR	D	0.04%	0.02%	0.02%
	BLK	C	0.29%	0.16%	0.16%
	BMY	B	0.23%	0.13%	0.13%
	BR	A	0.05%	0.03%	0.03%
	BRK.A	B	1.2%	0.92%	0.92%
	BRO	B	0.05%	0.03%	0.03%
	BSX	B	0.26%	0.14%	0.14%
	BX	A	0.25%	0.14%	0.14%
	BXP	D	0.02%	0.01%	0.01%
	C	A	0.25%	0.14%	0.14%
	CAG	D	0.02%	0.01%	0.01%
	CAH	B	0.06%	0.03%	0.03%
	CARR	D	0.12%	0.07%	0.07%
	CAT	B	0.36%	0.2%	0.2%
	CB	C	0.21%	0.12%	0.12%
	CBOE	B	0.04%	0.02%	0.02%
	CBRE	B	0.08%	0.04%	0.04%
	CCI	D	0.09%	0.05%	0.05%
	CCL	B	0.05%	0.03%	0.03%
	CDNS	B	0.16%	0.09%	0.09%
	CDW	F	0.05%	0.03%	0.03%
	CE	F	0.02%	0.01%	0.01%
	CEG	D	0.14%	0.08%	0.08%
	CF	B	0.03%	0.02%	0.02%
	CFG	B	0.04%	0.02%	0.02%
	CHD	B	0.05%	0.03%	0.03%
	CHRW	C	0.02%	0.01%	0.01%
	CHTR	C	0.07%	0.04%	0.04%
	CI	F	0.18%	0.1%	0.1%
	CINF	A	0.05%	0.03%	0.03%
	CL	D	0.14%	0.08%	0.08%
	CLX	B	0.04%	0.02%	0.02%
	CMCSA	B	0.32%	0.18%	0.18%
	CME	A	0.16%	0.09%	0.09%
	CMG	B	0.16%	0.09%	0.09%
	CMI	A	0.1%	0.05%	0.05%
	CMS	C	0.04%	0.02%	0.02%
	CNC	D	0.06%	0.03%	0.03%
	CNP	B	0.04%	0.02%	0.02%
	COF	B	0.13%	0.08%	0.08%
	COP	C	0.25%	0.14%	0.14%
	COR	B	0.08%	0.05%	0.05%
	COST	B	0.79%	0.44%	0.44%
	CPAY	A	0.05%	0.03%	0.03%
	CPB	D	0.02%	0.01%	0.01%
	CPRT	A	0.09%	0.05%	0.05%
	CPT	B	0.02%	0.01%	0.01%
	CRL	C	0.02%	0.01%	0.01%
	CRM	B	0.61%	0.35%	0.35%
	CRWD	B	0.16%	0.09%	0.09%
	CSCO	B	0.45%	0.25%	0.25%
	CSGP	D	0.06%	0.03%	0.03%
	CSX	B	0.13%	0.07%	0.07%
	CTAS	B	0.15%	0.08%	0.08%
	CTLT	B	0.02%	0.01%	0.01%
	CTRA	B	0.04%	0.02%	0.02%
	CTSH	B	0.07%	0.04%	0.04%
	CTVA	C	0.08%	0.04%	0.04%
	CVS	D	0.14%	0.07%	0.07%
	CVX	A	0.54%	0.3%	0.3%
	D	C	0.09%	0.05%	0.05%
	DAL	C	0.02%	0.04%	0.02%
	DAY	B	0.02%	0.01%	0.01%
	DD	D	0.07%	0.04%	0.04%
	DE	A	0.2%	0.11%	0.11%
	DECK	A	0.05%	0.03%	0.03%
	DELL	C	0.07%	0.04%	0.04%
	DFS	B	0.08%	0.05%	0.05%
	DG	F	0.03%	0.02%	0.02%
	DGX	A	0.03%	0.02%	0.02%
	DHI	D	0.09%	0.05%	0.05%
	DHR	F	0.3%	0.17%	0.17%
	DIS	B	0.4%	0.21%	0.21%
	DLR	B	0.12%	0.06%	0.06%
	DLTR	F	0.03%	0.01%	0.01%
	DOC	D	0.03%	0.02%	0.02%
	DOV	A	0.05%	0.03%	0.03%
	DOW	F	0.06%	0.03%	0.03%
	DPZ	C	0.03%	0.02%	0.02%
	DRI	B	0.04%	0.02%	0.02%
	DTE	C	0.05%	0.03%	0.03%
	DUK	C	0.17%	0.09%	0.09%
	DVA	B	0.02%	0.01%	0.01%
	DVN	F	0.05%	0.03%	0.03%
	DXCM	D	0.06%	0.03%	0.03%
	EA	A	0.08%	0.04%	0.04%
	EBAY	D	0.06%	0.03%	0.03%
	ECL	D	0.12%	0.07%	0.07%
	ED	D	0.06%	0.04%	0.04%
	EFX	F	0.06%	0.03%	0.03%
	EG	C	0.03%	0.02%	0.02%
	EIX	B	0.06%	0.03%	0.03%
	EL	F	0.03%	0.02%	0.02%
	ELV	F	0.18%	0.1%	0.1%
	EMN	D	0.02%	0.01%	0.01%
	EMR	A	0.14%	0.08%	0.08%
	ENPH	F	0.02%	0.01%	0.01%
	EOG	A	0.15%	0.08%	0.08%
	EPAM	C	0.03%	0.02%	0.02%
	EQIX	A	0.17%	0.09%	0.09%
	EQR	B	0.05%	0.03%	0.03%
	EQT	B	0.05%	0.03%	0.03%
	ERIE	D	0.02%	0.01%	0.01%
	ES	D	0.04%	0.02%	0.02%
	ESS	B	0.04%	0.02%	0.02%
	ETN	A	0.28%	0.16%	0.16%
	ETR	B	0.06%	0.03%	0.03%
	EVRG	A	0.03%	0.02%	0.02%
	EW	C	0.08%	0.04%	0.04%
	EXC	C	0.08%	0.04%	0.04%
	EXPD	D	0.03%	0.02%	0.02%
	EXPE	B	0.04%	0.02%	0.02%
	EXR	D	0.07%	0.04%	0.04%
	F	C	0.08%	0.05%	0.05%
	FANG	D	0.07%	0.04%	0.04%
	FAST	B	0.09%	0.05%	0.05%
	FCX	D	0.12%	0.07%	0.07%
	FDS	B	0.03%	0.02%	0.02%
	FDX	B	0.13%	0.07%	0.07%
	FE	C	0.04%	0.02%	0.02%
	FFIV	B	0.03%	0.02%	0.02%
	FI	A	0.25%	0.13%	0.13%
	FICO	B	0.11%	0.06%	0.06%
	FIS	C	0.09%	0.05%	0.05%
	FITB	A	0.06%	0.03%	0.03%
	FOX	A	0.01%	0.01%	0.01%
	FOXA	B	0.02%	0.01%	0.01%
	FSLR	F	0.04%	0.02%	0.02%
	FTNT	C	0.12%	0.06%	0.06%
	FTV	C	0.05%	0.03%	0.03%
	GD	F	0.13%	0.08%	0.08%
	GDDY	A	0.05%	0.03%	0.03%
	GE	D	0.37%	0.21%	0.21%
	GEHC	F	0.07%	0.04%	0.04%
	GEN	B	0.03%	0.02%	0.02%
	GEV	B	0.18%	0.1%	0.1%
	GILD	C	0.21%	0.12%	0.12%
	GIS	D	0.07%	0.04%	0.04%
	GLW	B	0.07%	0.04%	0.04%
	GM	B	0.12%	0.07%	0.07%
	GOOG	C	1.73%	0.92%	0.92%
	GOOGL	C	1.99%	1.11%	1.11%
	GPC	D	0.03%	0.02%	0.02%
	GPN	B	0.06%	0.03%	0.03%
	GRMN	B	0.06%	0.03%	0.03%
	GS	A	0.36%	0.2%	0.2%
	GWW	B	0.1%	0.06%	0.06%
	HAL	C	0.05%	0.03%	0.03%
	HBAN	A	0.05%	0.03%	0.03%
	HCA	F	0.13%	0.07%	0.07%
	HD	A	0.76%	0.43%	0.43%
	HES	B	0.08%	0.04%	0.04%
	HIG	B	0.07%	0.04%	0.04%
	HII	D	0.01%	0.01%	0.01%
	HLT	A	0.12%	0.07%	0.07%
	HOLX	D	0.04%	0.02%	0.02%
	HON	B	0.28%	0.16%	0.16%
	HPE	B	0.05%	0.03%	0.03%
	HPQ	B	0.07%	0.04%	0.04%
	HRL	D	0.02%	0.01%	0.01%
	HSIC	B	0.02%	0.01%	0.01%
	HST	C	0.02%	0.01%	0.01%
	HSY	F	0.05%	0.03%	0.03%
	HUBB	B	0.05%	0.03%	0.03%
	HUM	C	0.07%	0.04%	0.04%
	HWM	A	0.09%	0.05%	0.05%
	IBM	C	0.38%	0.21%	0.21%
	ICE	C	0.17%	0.1%	0.1%
	IDXX	F	0.07%	0.04%	0.04%
	IEX	B	0.03%	0.02%	0.02%
	IFF	D	0.04%	0.02%	0.02%
	INCY	C	0.02%	0.01%	0.01%
	INTC	D	0.2%	0.12%	0.12%
	INTU	C	0.35%	0.21%	0.21%
	INVH	D	0.04%	0.02%	0.02%
	IP	B	0.04%	0.02%	0.02%
	IPG	D	0.02%	0.01%	0.01%
	IQV	D	0.07%	0.04%	0.04%
	IR	B	0.08%	0.04%	0.04%
	IRM	D	0.06%	0.04%	0.04%
	ISRG	A	0.37%	0.21%	0.21%
	IT	C	0.08%	0.04%	0.04%
	ITW	B	0.15%	0.08%	0.08%
	J	F	0.03%	0.02%	0.02%
	JBHT	C	0.03%	0.02%	0.02%
	JBL	B	0.03%	0.02%	0.02%
	JCI	C	0.11%	0.06%	0.06%
	JKHY	D	0.02%	0.01%	0.01%
	JNJ	D	0.71%	0.39%	0.39%
	JNPR	F	0.02%	0.01%	0.01%
	JPM	A	1.33%	0.74%	0.74%
	K	A	0.04%	0.02%	0.02%
	KDP	D	0.07%	0.04%	0.04%
	KEY	B	0.03%	0.02%	0.02%
	KEYS	A	0.06%	0.03%	0.03%
	KHC	F	0.05%	0.03%	0.03%
	KIM	A	0.03%	0.02%	0.02%
	KKR	A	0.18%	0.11%	0.11%
	KLAC	D	0.16%	0.09%	0.09%
	KMB	D	0.09%	0.05%	0.05%
	KMI	A	0.11%	0.06%	0.06%
	KMX	B	0.02%	0.01%	0.01%
	KO	D	0.5%	0.26%	0.26%
	KR	B	0.08%	0.04%	0.04%
	KVUE	A	0.09%	0.05%	0.05%
	L	A	0.03%	0.02%	0.02%
	LDOS	C	0.04%	0.02%	0.02%
	LEN	D	0.08%	0.04%	0.04%
	LH	C	0.04%	0.02%	0.02%
	LHX	C	0.09%	0.05%	0.05%
	LIN	D	0.42%	0.23%	0.23%
	LKQ	D	0.02%	0.01%	0.01%
	LLY	F	1.17%	0.67%	0.67%
	LMT	D	0.22%	0.12%	0.12%
	LNT	A	0.03%	0.02%	0.02%
	LOW	D	0.29%	0.17%	0.17%
	LRCX	F	0.18%	0.11%	0.11%
	LULU	C	0.07%	0.04%	0.04%
	LUV	C	0.01%	0.02%	0.01%
	LVS	C	0.04%	0.02%	0.02%
	LW	C	0.02%	0.01%	0.01%
	LYB	F	0.04%	0.02%	0.02%
	LYV	A	0.04%	0.02%	0.02%
	MA	C	0.82%	0.46%	0.46%
	MAA	B	0.04%	0.02%	0.02%
	MAR	B	0.13%	0.07%	0.07%
	MAS	D	0.03%	0.02%	0.02%
	MCD	D	0.4%	0.23%	0.23%
	MCHP	D	0.07%	0.04%	0.04%
	MCK	B	0.16%	0.09%	0.09%
	MCO	B	0.15%	0.08%	0.08%
	MDLZ	F	0.17%	0.09%	0.09%
	MDT	D	0.21%	0.12%	0.12%
	MET	A	0.1%	0.05%	0.05%
	META	D	2.39%	1.36%	1.36%
	MGM	D	0.02%	0.01%	0.01%
	MKC	D	0.04%	0.02%	0.02%
	MKTX	D	0.02%	0.01%	0.01%
	MLM	B	0.07%	0.04%	0.04%
	MMC	B	0.21%	0.12%	0.12%
	MMM	D	0.14%	0.08%	0.08%
	MNST	C	0.08%	0.04%	0.04%
	MO	A	0.18%	0.1%	0.1%
	MOH	F	0.03%	0.02%	0.02%
	MOS	F	0.02%	0.01%	0.01%
	MPC	D	0.11%	0.06%	0.06%
	MPWR	F	0.05%	0.03%	0.03%
	MRK	F	0.48%	0.27%	0.27%
	MRNA	F	0.02%	0.01%	0.01%
	MRO	B	0.03%	0.02%	0.02%
	MS	A	0.31%	0.18%	0.18%
	MSCI	C	0.09%	0.05%	0.05%
	MSFT	F	5.65%	3.42%	3.42%
	MSI	B	0.16%	0.09%	0.09%
	MTB	A	0.07%	0.04%	0.04%
	MTCH	D	0.01%	0.01%	0.01%
	MTD	D	0.05%	0.03%	0.03%
	MU	D	0.21%	0.12%	0.12%
	NDAQ	A	0.07%	0.03%	0.03%
	NDSN	B	0.03%	0.02%	0.02%
	NEE	D	0.3%	0.17%	0.17%
	NEM	D	0.1%	0.05%	0.05%
	NFLX	A	0.73%	0.39%	0.39%
	NI	A	0.03%	0.02%	0.02%
	NKE	D	0.17%	0.1%	0.1%
	NOC	D	0.13%	0.07%	0.07%
	NOW	A	0.4%	0.23%	0.23%
	NRG	B	0.04%	0.02%	0.02%
	NSC	B	0.11%	0.06%	0.06%
	NTAP	C	0.05%	0.03%	0.03%
	NTRS	A	0.04%	0.02%	0.02%
	NUE	C	0.07%	0.04%	0.04%
	NVDA	C	6.92%	3.89%	3.89%
	NVR	D	0.05%	0.03%	0.03%
	NWSA	B	0.02%	0.01%	0.01%
	NXPI	D	0.11%	0.06%	0.06%
	O	D	0.1%	0.05%	0.05%
	ODFL	B	0.08%	0.05%	0.05%
	OKE	A	0.13%	0.07%	0.07%
	OMC	C	0.04%	0.02%	0.02%
	ON	D	0.06%	0.03%	0.03%
	ORCL	B	0.61%	0.32%	0.32%
	ORLY	B	0.14%	0.08%	0.08%
	OTIS	C	0.08%	0.04%	0.04%
	OXY	D	0.07%	0.04%	0.04%
	PANW	C	0.24%	0.14%	0.14%
	PARA	C	0.01%	0.01%	0.01%
	PAYC	B	0.02%	0.01%	0.01%
	PAYX	C	0.09%	0.05%	0.05%
	PCAR	B	0.11%	0.07%	0.07%
	PCG	A	0.08%	0.05%	0.05%
	PEG	A	0.09%	0.05%	0.05%
	PEP	F	0.42%	0.24%	0.24%
	PFE	D	0.27%	0.16%	0.16%
	PFG	D	0.04%	0.02%	0.02%
	PG	A	0.78%	0.42%	0.42%
	PGR	A	0.29%	0.16%	0.16%
	PH	A	0.17%	0.1%	0.1%
	PHM	D	0.05%	0.03%	0.03%
	PKG	A	0.04%	0.02%	0.02%
	PLD	D	0.2%	0.11%	0.11%
	PLTR	B	0.24%	0.13%	0.13%
	PM	B	0.39%	0.21%	0.21%
	PNC	B	0.16%	0.09%	0.09%
	PNR	A	0.03%	0.02%	0.02%
	PODD	C	0.04%	0.02%	0.02%
	POOL	C	0.03%	0.01%	0.01%
	PPG	F	0.06%	0.03%	0.03%
	PPL	B	0.05%	0.03%	0.03%
	PRU	A	0.09%	0.05%	0.05%
	PSA	D	0.1%	0.06%	0.06%
	PSX	C	0.11%	0.06%	0.06%
	PTC	A	0.04%	0.02%	0.02%
	PWR	A	0.09%	0.05%	0.05%
	PYPL	B	0.16%	0.09%	0.09%
	QCOM	F	0.33%	0.2%	0.2%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.11%	0.06%	0.06%
	REG	B	0.03%	0.01%	0.01%
	REGN	F	0.15%	0.09%	0.09%
	RF	A	0.05%	0.03%	0.03%
	RJF	A	0.06%	0.03%	0.03%
	RMD	C	0.07%	0.04%	0.04%
	ROK	B	0.06%	0.04%	0.04%
	ROL	B	0.03%	0.02%	0.02%
	ROP	B	0.11%	0.07%	0.07%
	ROST	C	0.09%	0.05%	0.05%
	RSG	A	0.09%	0.05%	0.05%
	RTX	C	0.31%	0.17%	0.17%
	RVTY	F	0.03%	0.02%	0.02%
	SBAC	D	0.05%	0.03%	0.03%
	SBUX	A	0.21%	0.12%	0.12%
	SCHW	B	0.23%	0.13%	0.13%
	SHW	A	0.17%	0.1%	0.1%
	SJM	D	0.02%	0.01%	0.01%
	SLB	C	0.12%	0.07%	0.07%
	SMCI	F	0.03%	0.01%	0.01%
	SNA	A	0.04%	0.02%	0.02%
	SNPS	B	0.16%	0.09%	0.09%
	SO	D	0.19%	0.1%	0.1%
	SOLV	C	0.02%	0.01%	0.01%
	SPG	B	0.11%	0.06%	0.06%
	SPGI	C	0.31%	0.18%	0.18%
	SRE	A	0.11%	0.06%	0.06%
	STE	F	0.04%	0.02%	0.02%
	STLD	B	0.04%	0.02%	0.02%
	STT	A	0.06%	0.03%	0.03%
	STX	D	0.04%	0.02%	0.02%
	STZ	D	0.08%	0.04%	0.04%
	SW	A	0.06%	0.03%	0.03%
	SWK	D	0.02%	0.01%	0.01%
	SWKS	F	0.03%	0.01%	0.01%
	SYF	B	0.05%	0.03%	0.03%
	SYK	C	0.26%	0.14%	0.14%
	SYY	B	0.07%	0.04%	0.04%
	T	A	0.32%	0.17%	0.17%
	TAP	C	0.02%	0.01%	0.01%
	TDG	D	0.14%	0.08%	0.08%
	TDY	B	0.04%	0.02%	0.02%
	TECH	D	0.02%	0.01%	0.01%
	TER	D	0.03%	0.02%	0.02%
	TFC	A	0.12%	0.07%	0.07%
	TFX	F	0.02%	0.01%	0.01%
	TGT	F	0.11%	0.08%	0.08%
	TJX	A	0.26%	0.15%	0.15%
	TMO	F	0.38%	0.22%	0.22%
	TMUS	B	0.24%	0.13%	0.13%
	TRGP	B	0.08%	0.05%	0.05%
	TRMB	B	0.03%	0.02%	0.02%
	TROW	B	0.05%	0.03%	0.03%
	TRV	B	0.11%	0.06%	0.06%
	TSCO	D	0.06%	0.03%	0.03%
	TSLA	B	1.89%	0.93%	0.93%
	TSN	B	0.03%	0.02%	0.02%
	TT	A	0.18%	0.1%	0.1%
	TTWO	A	0.06%	0.03%	0.03%
	TXN	C	0.35%	0.2%	0.2%
	TXT	D	0.03%	0.02%	0.02%
	TYL	B	0.05%	0.03%	0.03%
	UBER	D	0.25%	0.16%	0.16%
	UDR	B	0.03%	0.01%	0.01%
	UHS	D	0.02%	0.01%	0.01%
	ULTA	F	0.03%	0.02%	0.02%
	UNH	C	1.07%	0.59%	0.59%
	UNP	C	0.27%	0.15%	0.15%
	UPS	C	0.19%	0.1%	0.1%
	URI	B	0.11%	0.06%	0.06%
	USB	A	0.15%	0.08%	0.08%
	V	A	0.93%	0.56%	0.56%
	VICI	C	0.06%	0.04%	0.04%
	VLO	C	0.09%	0.05%	0.05%
	VLTO	D	0.05%	0.03%	0.03%
	VMC	B	0.07%	0.04%	0.04%
	VRSK	A	0.08%	0.04%	0.04%
	VRSN	F	0.03%	0.02%	0.02%
	VRTX	F	0.22%	0.13%	0.13%
	VST	B	0.1%	0.05%	0.05%
	VTR	C	0.05%	0.03%	0.03%
	VTRS	A	0.03%	0.02%	0.02%
	VZ	C	0.34%	0.19%	0.19%
	WAB	B	0.07%	0.04%	0.04%
	WAT	B	0.04%	0.02%	0.02%
	WBA	F	0.01%	0.01%	0.01%
	WBD	C	0.04%	0.02%	0.02%
	WDC	D	0.04%	0.02%	0.02%
	WEC	A	0.06%	0.03%	0.03%
	WELL	A	0.16%	0.08%	0.08%
	WFC	A	0.49%	0.27%	0.27%
	WM	A	0.17%	0.09%	0.09%
	WMB	A	0.14%	0.07%	0.07%
	WMT	A	0.74%	0.4%	0.4%
	WRB	A	0.04%	0.02%	0.02%
	WST	C	0.04%	0.03%	0.03%
	WTW	B	0.06%	0.03%	0.03%
	WY	D	0.04%	0.02%	0.02%
	WYNN	D	0.02%	0.01%	0.01%
	XEL	A	0.07%	0.04%	0.04%
	XOM	B	1.04%	0.58%	0.58%
	XYL	D	0.06%	0.03%	0.03%
	YUM	B	0.07%	0.04%	0.04%
	ZBH	C	0.04%	0.02%	0.02%
	ZBRA	B	0.04%	0.02%	0.02%
	ZTS	D	0.15%	0.09%	0.09%

PBUS Overweight 100 Positions Relative to PHDG

	Symbol	Grade	Weight
	MELI	D	0.17%
	MRVL	B	0.15%
	MSTR	C	0.14%
	APO	B	0.13%
	APP	B	0.13%
	COIN	C	0.12%
	WDAY	B	0.11%
	TTD	B	0.11%
	SQ	B	0.1%
	LNG	B	0.1%
	DASH	A	0.1%
	FLUT	A	0.09%
	WCN	A	0.09%
	VRT	B	0.09%
	SNOW	C	0.08%
	TEAM	A	0.08%
	DDOG	A	0.07%
	NET	B	0.06%
	TPL	A	0.06%
	ALNY	D	0.06%
	ARES	A	0.06%
	VEEV	C	0.06%
	HUBS	A	0.06%
	LPLA	A	0.05%
	EME	C	0.05%
	RBLX	C	0.05%
	ZS	C	0.04%
	RS	B	0.04%
	WSO	A	0.04%
	BAH	F	0.04%
	HOOD	B	0.04%
	TRU	D	0.04%
	DKNG	B	0.04%
	ZM	B	0.04%
	CSL	C	0.04%
	LII	A	0.04%
	MDB	C	0.04%
	ILMN	D	0.04%
	MKL	A	0.04%
	FCNCA	A	0.04%
	WSM	B	0.04%
	GLPI	C	0.03%
	AVTR	F	0.03%
	DT	C	0.03%
	ENTG	D	0.03%
	ACM	A	0.03%
	GGG	B	0.03%
	UTHR	C	0.03%
	EQH	B	0.03%
	TOST	B	0.03%
	PSTG	D	0.03%
	FNF	B	0.03%
	TW	A	0.03%
	HEI	B	0.03%
	SUI	D	0.03%
	DOCU	A	0.03%
	SSNC	B	0.03%
	TWLO	A	0.03%
	OC	A	0.03%
	MANH	D	0.03%
	PINS	D	0.03%
	RPM	A	0.03%
	BURL	A	0.03%
	CHRD	D	0.02%
	CRBG	B	0.02%
	TTC	D	0.02%
	ROKU	D	0.02%
	SEIC	B	0.02%
	KNX	B	0.02%
	FBIN	D	0.02%
	ALLY	C	0.02%
	EXAS	D	0.02%
	RPRX	D	0.02%
	CNH	C	0.02%
	AFG	A	0.02%
	WTRG	B	0.02%
	IOT	A	0.02%
	CCK	C	0.02%
	SNAP	C	0.02%
	DKS	C	0.02%
	BMRN	D	0.02%
	HEI	B	0.02%
	Z	A	0.02%
	OKTA	C	0.02%
	CG	A	0.02%
	AMH	D	0.02%
	NBIX	C	0.02%
	WPC	D	0.02%
	ELS	C	0.02%
	OVV	B	0.02%
	CELH	F	0.01%
	WLK	D	0.01%
	UHAL	D	0.01%
	BBWI	D	0.01%
	H	B	0.01%
	DINO	D	0.01%
	BIO	D	0.01%
	ACI	C	0.01%
	RIVN	F	0.01%
	BSY	D	0.01%

PBUS 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	B	-0.01%
	FRT	B	-0.01%
	GL	B	-0.01%
	PNW	B	-0.01%
	GNRC	B	-0.01%
	NCLH	B	-0.01%
	TPR	B	-0.01%
	NWS	B	-0.0%

PBUS: Top Represented Industries & Keywords

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

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