PHDG vs. GSEW ETF Comparison

Comparison of PowerShares S&P 500 Downside Hedged Portfolio (PHDG) to Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW)

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

$38.51

Average Daily Volume

12,374

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

GSEW

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF

GSEW Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Solactive US Large Cap Equal Weight Index (GTR). The fund seeks to achieve its investment objective by investing at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its underlying index. The index consists of equity securities of large capitalization U.S. issuers. The index is an equal-weight version of the Solactive US Large Cap Index, a market capitalization-weighted index that includes equity securities of approximately 500 of the largest U.S. companies.

Grade (RS Rating)

Last Trade

$82.13

Average Daily Volume

46,558

Number of Holdings ^*

489

* may have additional holdings in another (foreign) market

Performance

Period	PHDG	GSEW
30 Days	1.21%	5.61%
60 Days	2.07%	6.23%
90 Days	2.13%	8.71%
12 Months	19.16%	32.95%

430 Overlapping Holdings

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

PHDG Overweight 69 Positions Relative to GSEW

Symbol	Grade	Weight
GOOG	C	0.92%
NXPI	D	0.06%
LULU	C	0.04%
EPAM	C	0.02%
FFIV	B	0.02%
APTV	D	0.02%
AMCR	D	0.02%
FOX	A	0.01%
QRVO	F	0.01%
WBA	F	0.01%
BEN	C	0.01%
PARA	C	0.01%
FMC	D	0.01%
DVA	B	0.01%
MHK	D	0.01%
HII	D	0.01%
BWA	D	0.01%
IVZ	B	0.01%
MTCH	D	0.01%
HAS	D	0.01%
APA	D	0.01%
MOS	F	0.01%
HSIC	B	0.01%
CZR	F	0.01%
RL	B	0.01%
FRT	B	0.01%
ENPH	F	0.01%
MGM	D	0.01%
WYNN	D	0.01%
AOS	F	0.01%
CPB	D	0.01%
HRL	D	0.01%
TFX	F	0.01%
SOLV	C	0.01%
GL	B	0.01%
AES	F	0.01%
MKTX	D	0.01%
CRL	C	0.01%
ERIE	D	0.01%
LKQ	D	0.01%
PNW	B	0.01%
CTLT	B	0.01%
FOXA	B	0.01%
IPG	D	0.01%
PAYC	B	0.01%
TAP	C	0.01%
NWSA	B	0.01%
AIZ	A	0.01%
GNRC	B	0.01%
TECH	D	0.01%
LW	C	0.01%
BXP	D	0.01%
NCLH	B	0.01%
SJM	D	0.01%
EMN	D	0.01%
UHS	D	0.01%
ALB	C	0.01%
REG	B	0.01%
DAY	B	0.01%
KMX	B	0.01%
HST	C	0.01%
ALLE	D	0.01%
INCY	C	0.01%
JNPR	F	0.01%
CPT	B	0.01%
CHRW	C	0.01%
TPR	B	0.01%
UDR	B	0.01%
NWS	A	0.0%

PHDG Underweight 59 Positions Relative to GSEW

Symbol	Grade	Weight
APP	B	-0.34%
MSTR	C	-0.26%
FLUT	A	-0.23%
COIN	C	-0.23%
HUBS	A	-0.23%
NTNX	A	-0.22%
SQ	A	-0.22%
BURL	A	-0.22%
ZS	C	-0.22%
SNOW	C	-0.22%
WDAY	B	-0.22%
DKNG	B	-0.22%
TEAM	A	-0.22%
TPL	A	-0.21%
VRT	B	-0.21%
GWRE	A	-0.21%
WSM	B	-0.21%
LPLA	A	-0.21%
DDOG	A	-0.21%
MDB	C	-0.21%
ZM	B	-0.21%
WSO	A	-0.21%
DASH	A	-0.21%
IBKR	A	-0.21%
TOL	B	-0.21%
OC	A	-0.21%
MKL	A	-0.21%
LNG	B	-0.21%
VEEV	C	-0.21%
ENTG	D	-0.2%
BMRN	D	-0.2%
ARES	A	-0.2%
EME	C	-0.2%
MRVL	B	-0.2%
MANH	D	-0.2%
NET	B	-0.2%
WPC	D	-0.2%
CSL	C	-0.2%
APO	B	-0.2%
FNF	B	-0.2%
GGG	B	-0.2%
RBLX	C	-0.2%
SSNC	B	-0.2%
LII	A	-0.2%
CVNA	B	-0.2%
TTD	B	-0.2%
TW	A	-0.2%
RPM	A	-0.2%
AVTR	F	-0.19%
PSTG	D	-0.19%
ILMN	D	-0.19%
EXAS	D	-0.19%
ALNY	D	-0.19%
SUI	D	-0.19%
FCNCA	A	-0.19%
RS	B	-0.19%
TRU	D	-0.19%
PINS	D	-0.18%
BAH	F	-0.17%