PHDG vs. KOKU ETF Comparison

Comparison of PowerShares S&P 500 Downside Hedged Portfolio (PHDG) to Xtrackers MSCI Kokusai Equity ETF (KOKU)

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

KOKU

Xtrackers MSCI Kokusai Equity ETF

KOKU Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Kokusai Index. The fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of issuers from developed markets (excluding Japan). The index is designed to track the performance of equity markets in developed markets (excluding Japan). It is non-diversified.

Grade (RS Rating)

Last Trade

$102.45

Average Daily Volume

367

Number of Holdings ^*

615

* may have additional holdings in another (foreign) market

Performance

Period	PHDG	KOKU
30 Days	-1.45%	0.83%
60 Days	1.30%	3.06%
90 Days	1.18%	3.34%
12 Months	18.05%	25.94%

485 Overlapping Holdings

	Symbol	Grade	Weight in PHDG	Weight in KOKU	Overlap
	A	D	0.04%	0.06%	0.04%
	AAPL	C	3.74%	4.94%	3.74%
	ABBV	F	0.32%	0.44%	0.32%
	ABBV	F	0.32%	0.13%	0.13%
	ABNB	C	0.06%	0.09%	0.06%
	ABT	B	0.22%	0.3%	0.22%
	ACGL	C	0.04%	0.06%	0.04%
	ACN	B	0.24%	0.33%	0.24%
	ADBE	C	0.25%	0.34%	0.25%
	ADI	D	0.11%	0.15%	0.11%
	ADM	D	0.03%	0.04%	0.03%
	ADP	A	0.13%	0.19%	0.13%
	ADSK	A	0.07%	0.1%	0.07%
	AEE	A	0.03%	0.04%	0.03%
	AEP	C	0.05%	0.08%	0.05%
	AES	F	0.01%	0.01%	0.01%
	AFL	B	0.06%	0.09%	0.06%
	AIG	B	0.05%	0.08%	0.05%
	AIZ	A	0.01%	0.02%	0.01%
	AJG	A	0.07%	0.09%	0.07%
	AKAM	D	0.01%	0.02%	0.01%
	ALB	B	0.01%	0.02%	0.01%
	ALGN	D	0.02%	0.02%	0.02%
	ALL	A	0.06%	0.08%	0.06%
	ALLE	C	0.01%	0.02%	0.01%
	AMAT	F	0.17%	0.21%	0.17%
	AMCR	C	0.02%	0.02%	0.02%
	AMD	F	0.24%	0.33%	0.24%
	AME	A	0.05%	0.07%	0.05%
	AMGN	F	0.17%	0.23%	0.17%
	AMP	A	0.06%	0.09%	0.06%
	AMT	C	0.1%	0.14%	0.1%
	AMZN	C	2.13%	2.86%	2.13%
	ANET	C	0.11%	0.15%	0.11%
	ANSS	B	0.03%	0.04%	0.03%
	AON	A	0.09%	0.11%	0.09%
	AOS	F	0.01%	0.01%	0.01%
	APA	D	0.01%	0.01%	0.01%
	APD	A	0.08%	0.11%	0.08%
	APH	A	0.09%	0.13%	0.09%
	APTV	F	0.02%	0.02%	0.02%
	ARE	F	0.02%	0.02%	0.02%
	ATO	A	0.02%	0.03%	0.02%
	AVB	B	0.03%	0.05%	0.03%
	AVGO	D	0.86%	1.1%	0.86%
	AVY	F	0.02%	0.02%	0.02%
	AWK	C	0.03%	0.04%	0.03%
	AXON	A	0.05%	0.06%	0.05%
	AXP	A	0.17%	0.25%	0.17%
	AZO	C	0.06%	0.08%	0.06%
	BA	F	0.11%	0.15%	0.11%
	BAC	A	0.33%	0.5%	0.33%
	BALL	F	0.02%	0.03%	0.02%
	BAX	F	0.02%	0.02%	0.02%
	BBY	D	0.02%	0.03%	0.02%
	BDX	F	0.07%	0.1%	0.07%
	BEN	C	0.01%	0.01%	0.01%
	BG	D	0.01%	0.02%	0.01%
	BIIB	F	0.03%	0.03%	0.03%
	BK	A	0.06%	0.09%	0.06%
	BKNG	A	0.18%	0.25%	0.18%
	BKR	A	0.05%	0.07%	0.05%
	BLDR	D	0.02%	0.03%	0.02%
	BLK	B	0.16%	0.23%	0.16%
	BMY	B	0.13%	0.18%	0.13%
	BR	A	0.03%	0.04%	0.03%
	BRK.A	B	0.92%	0.94%	0.92%
	BRO	B	0.03%	0.04%	0.03%
	BSX	A	0.14%	0.19%	0.14%
	BX	A	0.14%	0.19%	0.14%
	BXP	C	0.01%	0.02%	0.01%
	C	A	0.14%	0.2%	0.14%
	CAG	F	0.01%	0.02%	0.01%
	CAH	B	0.03%	0.04%	0.03%
	CARR	C	0.07%	0.09%	0.07%
	CAT	B	0.2%	0.28%	0.2%
	CB	C	0.12%	0.17%	0.12%
	CBOE	C	0.02%	0.03%	0.02%
	CBRE	B	0.04%	0.06%	0.04%
	CCI	C	0.05%	0.07%	0.05%
	CCL	A	0.03%	0.04%	0.03%
	CDNS	B	0.09%	0.12%	0.09%
	CDW	F	0.03%	0.03%	0.03%
	CE	F	0.01%	0.01%	0.01%
	CEG	C	0.08%	0.11%	0.08%
	CF	A	0.02%	0.03%	0.02%
	CFG	B	0.02%	0.03%	0.02%
	CHD	A	0.03%	0.04%	0.03%
	CHRW	B	0.01%	0.02%	0.01%
	CHTR	C	0.04%	0.06%	0.04%
	CI	D	0.1%	0.13%	0.1%
	CINF	A	0.03%	0.03%	0.03%
	CL	D	0.08%	0.11%	0.08%
	CLX	A	0.02%	0.03%	0.02%
	CMCSA	B	0.18%	0.26%	0.18%
	CME	B	0.09%	0.12%	0.09%
	CMG	B	0.09%	0.13%	0.09%
	CMI	A	0.05%	0.07%	0.05%
	CMS	C	0.02%	0.03%	0.02%
	CNC	D	0.03%	0.05%	0.03%
	CNP	A	0.02%	0.03%	0.02%
	COF	C	0.08%	0.11%	0.08%
	COP	C	0.14%	0.2%	0.14%
	COR	B	0.05%	0.06%	0.05%
	COST	A	0.44%	0.6%	0.44%
	CPAY	A	0.03%	0.04%	0.03%
	CPB	D	0.01%	0.01%	0.01%
	CPRT	B	0.05%	0.07%	0.05%
	CPT	B	0.01%	0.02%	0.01%
	CRL	D	0.01%	0.01%	0.01%
	CRM	B	0.35%	0.47%	0.35%
	CRWD	B	0.09%	0.11%	0.09%
	CSCO	B	0.25%	0.35%	0.25%
	CSGP	D	0.03%	0.04%	0.03%
	CSX	C	0.07%	0.1%	0.07%
	CTAS	B	0.08%	0.12%	0.08%
	CTLT	C	0.01%	0.01%	0.01%
	CTRA	B	0.02%	0.03%	0.02%
	CTSH	B	0.04%	0.06%	0.04%
	CTVA	C	0.04%	0.06%	0.04%
	CVS	D	0.07%	0.1%	0.07%
	CVX	A	0.3%	0.42%	0.3%
	D	C	0.05%	0.07%	0.05%
	DAL	B	0.04%	0.01%	0.01%
	DAY	B	0.01%	0.02%	0.01%
	DD	C	0.04%	0.05%	0.04%
	DE	B	0.11%	0.16%	0.11%
	DECK	A	0.03%	0.05%	0.03%
	DELL	B	0.04%	0.06%	0.04%
	DFS	B	0.05%	0.07%	0.05%
	DG	F	0.02%	0.03%	0.02%
	DGX	A	0.02%	0.03%	0.02%
	DHI	F	0.05%	0.07%	0.05%
	DHR	F	0.17%	0.24%	0.17%
	DIS	B	0.21%	0.31%	0.21%
	DLR	B	0.06%	0.08%	0.06%
	DLTR	F	0.01%	0.02%	0.01%
	DOC	C	0.02%	0.02%	0.02%
	DOV	A	0.03%	0.04%	0.03%
	DOW	F	0.03%	0.05%	0.03%
	DPZ	C	0.02%	0.02%	0.02%
	DRI	B	0.02%	0.03%	0.02%
	DTE	C	0.03%	0.04%	0.03%
	DUK	C	0.09%	0.13%	0.09%
	DVA	C	0.01%	0.02%	0.01%
	DVN	F	0.03%	0.04%	0.03%
	DXCM	C	0.03%	0.04%	0.03%
	EA	A	0.04%	0.06%	0.04%
	EBAY	D	0.03%	0.05%	0.03%
	ECL	D	0.07%	0.09%	0.07%
	ED	C	0.04%	0.05%	0.04%
	EFX	F	0.03%	0.04%	0.03%
	EG	C	0.02%	0.02%	0.02%
	EIX	B	0.03%	0.05%	0.03%
	EL	F	0.02%	0.02%	0.02%
	ELV	F	0.1%	0.14%	0.1%
	EMN	C	0.01%	0.02%	0.01%
	EMR	B	0.08%	0.11%	0.08%
	ENPH	F	0.01%	0.01%	0.01%
	EOG	A	0.08%	0.12%	0.08%
	EPAM	B	0.02%	0.02%	0.02%
	EQIX	A	0.09%	0.13%	0.09%
	EQR	C	0.03%	0.04%	0.03%
	EQT	B	0.03%	0.04%	0.03%
	ERIE	D	0.01%	0.02%	0.01%
	ES	C	0.02%	0.04%	0.02%
	ESS	B	0.02%	0.03%	0.02%
	ETN	A	0.16%	0.21%	0.16%
	ETR	B	0.03%	0.05%	0.03%
	EVRG	A	0.02%	0.02%	0.02%
	EW	C	0.04%	0.06%	0.04%
	EXC	C	0.04%	0.06%	0.04%
	EXPD	C	0.02%	0.03%	0.02%
	EXPE	B	0.02%	0.04%	0.02%
	EXR	C	0.04%	0.05%	0.04%
	F	C	0.05%	0.06%	0.05%
	FANG	C	0.04%	0.05%	0.04%
	FAST	B	0.05%	0.07%	0.05%
	FCX	F	0.07%	0.09%	0.07%
	FDS	B	0.02%	0.03%	0.02%
	FDX	B	0.07%	0.1%	0.07%
	FE	C	0.02%	0.04%	0.02%
	FFIV	B	0.02%	0.02%	0.02%
	FI	A	0.13%	0.19%	0.13%
	FICO	B	0.06%	0.09%	0.06%
	FIS	C	0.05%	0.07%	0.05%
	FITB	B	0.03%	0.05%	0.03%
	FOX	A	0.01%	0.01%	0.01%
	FOXA	A	0.01%	0.02%	0.01%
	FSLR	F	0.02%	0.03%	0.02%
	FTNT	C	0.06%	0.09%	0.06%
	FTV	C	0.03%	0.04%	0.03%
	GD	D	0.08%	0.1%	0.08%
	GDDY	A	0.03%	0.04%	0.03%
	GE	D	0.21%	0.29%	0.21%
	GEHC	D	0.04%	0.05%	0.04%
	GEN	B	0.02%	0.02%	0.02%
	GEV	B	0.1%	0.13%	0.1%
	GILD	C	0.12%	0.16%	0.12%
	GIS	D	0.04%	0.05%	0.04%
	GLW	B	0.04%	0.06%	0.04%
	GM	C	0.07%	0.1%	0.07%
	GOOG	C	0.92%	1.33%	0.92%
	GOOGL	C	1.11%	1.52%	1.11%
	GPC	D	0.02%	0.03%	0.02%
	GPN	B	0.03%	0.04%	0.03%
	GRMN	B	0.03%	0.05%	0.03%
	GS	A	0.2%	0.29%	0.2%
	GWW	B	0.06%	0.08%	0.06%
	HAL	C	0.03%	0.04%	0.03%
	HBAN	A	0.03%	0.04%	0.03%
	HCA	F	0.07%	0.1%	0.07%
	HD	B	0.43%	0.61%	0.43%
	HES	B	0.04%	0.06%	0.04%
	HIG	B	0.04%	0.06%	0.04%
	HII	F	0.01%	0.01%	0.01%
	HLT	A	0.07%	0.1%	0.07%
	HOLX	D	0.02%	0.03%	0.02%
	HON	C	0.16%	0.23%	0.16%
	HPE	B	0.03%	0.04%	0.03%
	HPQ	B	0.04%	0.05%	0.04%
	HRL	D	0.01%	0.01%	0.01%
	HSIC	C	0.01%	0.01%	0.01%
	HST	C	0.01%	0.02%	0.01%
	HSY	F	0.03%	0.04%	0.03%
	HUBB	B	0.03%	0.03%	0.03%
	HUM	C	0.04%	0.05%	0.04%
	HWM	A	0.05%	0.07%	0.05%
	IBM	C	0.21%	0.29%	0.21%
	ICE	C	0.1%	0.13%	0.1%
	IDXX	F	0.04%	0.05%	0.04%
	IEX	C	0.02%	0.03%	0.02%
	IFF	D	0.02%	0.03%	0.02%
	INCY	C	0.01%	0.02%	0.01%
	INTC	C	0.12%	0.15%	0.12%
	INTU	B	0.21%	0.29%	0.21%
	INVH	D	0.02%	0.03%	0.02%
	IP	A	0.02%	0.03%	0.02%
	IPG	D	0.01%	0.02%	0.01%
	IQV	F	0.04%	0.05%	0.04%
	IR	B	0.04%	0.06%	0.04%
	IRM	C	0.04%	0.05%	0.04%
	ISRG	A	0.21%	0.28%	0.21%
	IT	C	0.04%	0.06%	0.04%
	ITW	B	0.08%	0.12%	0.08%
	J	D	0.02%	0.03%	0.02%
	JBHT	C	0.02%	0.02%	0.02%
	JBL	C	0.02%	0.02%	0.02%
	JCI	B	0.06%	0.09%	0.06%
	JKHY	D	0.01%	0.02%	0.01%
	JNJ	C	0.39%	0.56%	0.39%
	JNPR	D	0.01%	0.01%	0.01%
	JPM	A	0.74%	1.06%	0.74%
	K	A	0.02%	0.03%	0.02%
	KDP	F	0.04%	0.05%	0.04%
	KEY	B	0.02%	0.03%	0.02%
	KEYS	A	0.03%	0.04%	0.03%
	KHC	F	0.03%	0.04%	0.03%
	KIM	A	0.02%	0.02%	0.02%
	KKR	A	0.11%	0.14%	0.11%
	KLAC	F	0.09%	0.13%	0.09%
	KMB	C	0.05%	0.07%	0.05%
	KMI	A	0.06%	0.08%	0.06%
	KMX	B	0.01%	0.02%	0.01%
	KO	D	0.26%	0.38%	0.26%
	KR	B	0.04%	0.06%	0.04%
	KVUE	A	0.05%	0.07%	0.05%
	L	A	0.02%	0.02%	0.02%
	LDOS	C	0.02%	0.03%	0.02%
	LEN	D	0.04%	0.06%	0.04%
	LH	B	0.02%	0.03%	0.02%
	LHX	C	0.05%	0.07%	0.05%
	LIN	C	0.23%	0.33%	0.23%
	LKQ	F	0.01%	0.01%	0.01%
	LLY	F	0.67%	0.91%	0.67%
	LMT	D	0.12%	0.17%	0.12%
	LNT	A	0.02%	0.02%	0.02%
	LOW	C	0.17%	0.23%	0.17%
	LRCX	F	0.11%	0.14%	0.11%
	LULU	C	0.04%	0.05%	0.04%
	LUV	C	0.02%	0.01%	0.01%
	LVS	B	0.02%	0.03%	0.02%
	LW	C	0.01%	0.02%	0.01%
	LYB	F	0.02%	0.03%	0.02%
	LYV	A	0.02%	0.03%	0.02%
	MA	B	0.46%	0.65%	0.46%
	MAA	B	0.02%	0.03%	0.02%
	MAR	A	0.07%	0.11%	0.07%
	MAS	D	0.02%	0.03%	0.02%
	MCD	D	0.23%	0.32%	0.23%
	MCHP	F	0.04%	0.05%	0.04%
	MCK	A	0.09%	0.12%	0.09%
	MCO	B	0.08%	0.12%	0.08%
	MDLZ	F	0.09%	0.13%	0.09%
	MDT	D	0.12%	0.18%	0.12%
	MET	A	0.05%	0.08%	0.05%
	META	D	1.36%	1.82%	1.36%
	MGM	D	0.01%	0.02%	0.01%
	MKC	C	0.02%	0.03%	0.02%
	MKTX	D	0.01%	0.01%	0.01%
	MLM	C	0.04%	0.06%	0.04%
	MMC	B	0.12%	0.16%	0.12%
	MMM	D	0.08%	0.11%	0.08%
	MNST	C	0.04%	0.06%	0.04%
	MO	A	0.1%	0.15%	0.1%
	MOH	F	0.02%	0.03%	0.02%
	MOS	F	0.01%	0.01%	0.01%
	MPC	D	0.06%	0.09%	0.06%
	MPWR	F	0.03%	0.05%	0.03%
	MRK	D	0.27%	0.37%	0.27%
	MRNA	F	0.01%	0.02%	0.01%
	MRO	B	0.02%	0.03%	0.02%
	MS	A	0.18%	0.25%	0.18%
	MSCI	C	0.05%	0.07%	0.05%
	MSFT	D	3.42%	4.41%	3.42%
	MSI	B	0.09%	0.12%	0.09%
	MTB	A	0.04%	0.05%	0.04%
	MTCH	D	0.01%	0.01%	0.01%
	MTD	F	0.03%	0.04%	0.03%
	MU	D	0.12%	0.16%	0.12%
	NDAQ	A	0.03%	0.05%	0.03%
	NDSN	B	0.02%	0.02%	0.02%
	NEE	C	0.17%	0.23%	0.17%
	NEM	D	0.05%	0.07%	0.05%
	NFLX	A	0.39%	0.54%	0.39%
	NI	A	0.02%	0.02%	0.02%
	NKE	F	0.1%	0.14%	0.1%
	NOC	D	0.07%	0.11%	0.07%
	NOW	A	0.23%	0.31%	0.23%
	NRG	B	0.02%	0.03%	0.02%
	NSC	B	0.06%	0.09%	0.06%
	NTAP	C	0.03%	0.04%	0.03%
	NTRS	A	0.02%	0.03%	0.02%
	NUE	C	0.04%	0.06%	0.04%
	NVDA	B	3.89%	5.27%	3.89%
	NVR	D	0.03%	0.05%	0.03%
	NWSA	A	0.01%	0.02%	0.01%
	NXPI	D	0.06%	0.08%	0.06%
	O	C	0.05%	0.07%	0.05%
	ODFL	C	0.05%	0.06%	0.05%
	OKE	A	0.07%	0.1%	0.07%
	OMC	C	0.02%	0.03%	0.02%
	ON	D	0.03%	0.04%	0.03%
	ORCL	A	0.32%	0.46%	0.32%
	ORLY	B	0.08%	0.11%	0.08%
	OTIS	C	0.04%	0.06%	0.04%
	OXY	D	0.04%	0.05%	0.04%
	PANW	B	0.14%	0.19%	0.14%
	PARA	C	0.01%	0.01%	0.01%
	PAYC	B	0.01%	0.02%	0.01%
	PAYX	B	0.05%	0.07%	0.05%
	PCAR	B	0.07%	0.09%	0.07%
	PCG	A	0.05%	0.06%	0.05%
	PEG	A	0.05%	0.07%	0.05%
	PEP	F	0.24%	0.33%	0.24%
	PFE	F	0.16%	0.21%	0.16%
	PFG	D	0.02%	0.03%	0.02%
	PG	C	0.42%	0.6%	0.42%
	PGR	A	0.16%	0.22%	0.16%
	PH	A	0.1%	0.14%	0.1%
	PHM	D	0.03%	0.04%	0.03%
	PKG	A	0.02%	0.03%	0.02%
	PLD	F	0.11%	0.16%	0.11%
	PLTR	B	0.13%	0.2%	0.13%
	PM	B	0.21%	0.3%	0.21%
	PNC	B	0.09%	0.13%	0.09%
	PNR	A	0.02%	0.03%	0.02%
	PODD	C	0.02%	0.03%	0.02%
	POOL	C	0.01%	0.02%	0.01%
	PPG	F	0.03%	0.04%	0.03%
	PPL	A	0.03%	0.04%	0.03%
	PRU	A	0.05%	0.07%	0.05%
	PSA	C	0.06%	0.08%	0.06%
	PSX	C	0.06%	0.08%	0.06%
	PTC	B	0.02%	0.04%	0.02%
	PWR	A	0.05%	0.07%	0.05%
	PYPL	B	0.09%	0.13%	0.09%
	QCOM	F	0.2%	0.27%	0.2%
	QRVO	F	0.01%	0.01%	0.01%
	RCL	A	0.06%	0.09%	0.06%
	REG	A	0.01%	0.02%	0.01%
	REGN	F	0.09%	0.13%	0.09%
	RF	A	0.03%	0.04%	0.03%
	RJF	A	0.03%	0.05%	0.03%
	RMD	C	0.04%	0.05%	0.04%
	ROK	C	0.04%	0.05%	0.04%
	ROL	B	0.02%	0.02%	0.02%
	ROP	B	0.07%	0.09%	0.07%
	ROST	D	0.05%	0.07%	0.05%
	RSG	A	0.05%	0.07%	0.05%
	RTX	D	0.17%	0.24%	0.17%
	RVTY	F	0.02%	0.02%	0.02%
	SBAC	D	0.03%	0.04%	0.03%
	SBUX	A	0.12%	0.17%	0.12%
	SCHW	B	0.13%	0.19%	0.13%
	SHW	B	0.1%	0.14%	0.1%
	SJM	D	0.01%	0.02%	0.01%
	SLB	C	0.07%	0.09%	0.07%
	SMCI	F	0.01%	0.01%	0.01%
	SNA	A	0.02%	0.03%	0.02%
	SNPS	B	0.09%	0.12%	0.09%
	SO	C	0.1%	0.14%	0.1%
	SOLV	D	0.01%	0.01%	0.01%
	SPG	A	0.06%	0.09%	0.06%
	SPGI	C	0.18%	0.24%	0.18%
	SRE	A	0.06%	0.09%	0.06%
	STE	D	0.02%	0.03%	0.02%
	STLD	B	0.02%	0.03%	0.02%
	STT	B	0.03%	0.04%	0.03%
	STX	C	0.02%	0.03%	0.02%
	STZ	D	0.04%	0.06%	0.04%
	SW	A	0.03%	0.04%	0.03%
	SWK	D	0.01%	0.02%	0.01%
	SWKS	F	0.01%	0.02%	0.01%
	SYF	B	0.03%	0.04%	0.03%
	SYK	B	0.14%	0.2%	0.14%
	SYY	D	0.04%	0.06%	0.04%
	T	A	0.17%	0.24%	0.17%
	TAP	C	0.01%	0.02%	0.01%
	TDG	D	0.08%	0.11%	0.08%
	TDY	B	0.02%	0.03%	0.02%
	TECH	F	0.01%	0.02%	0.01%
	TER	F	0.02%	0.02%	0.02%
	TFC	A	0.07%	0.09%	0.07%
	TFX	F	0.01%	0.01%	0.01%
	TGT	F	0.08%	0.11%	0.08%
	TJX	A	0.15%	0.21%	0.15%
	TMO	F	0.22%	0.29%	0.22%
	TMUS	B	0.13%	0.19%	0.13%
	TRGP	A	0.05%	0.06%	0.05%
	TRMB	B	0.02%	0.03%	0.02%
	TROW	B	0.03%	0.04%	0.03%
	TRV	B	0.06%	0.09%	0.06%
	TSCO	D	0.03%	0.04%	0.03%
	TSLA	B	0.93%	1.39%	0.93%
	TSN	B	0.02%	0.03%	0.02%
	TT	A	0.1%	0.14%	0.1%
	TTWO	A	0.03%	0.05%	0.03%
	TXN	C	0.2%	0.27%	0.2%
	TXT	D	0.02%	0.03%	0.02%
	TYL	B	0.03%	0.04%	0.03%
	UBER	F	0.16%	0.2%	0.16%
	UDR	B	0.01%	0.02%	0.01%
	UHS	D	0.01%	0.02%	0.01%
	ULTA	F	0.02%	0.03%	0.02%
	UNH	B	0.59%	0.82%	0.59%
	UNP	C	0.15%	0.22%	0.15%
	UPS	C	0.1%	0.14%	0.1%
	URI	C	0.06%	0.09%	0.06%
	USB	A	0.08%	0.12%	0.08%
	V	A	0.56%	0.73%	0.56%
	VICI	C	0.04%	0.05%	0.04%
	VLO	C	0.05%	0.07%	0.05%
	VLTO	C	0.03%	0.03%	0.03%
	VMC	B	0.04%	0.06%	0.04%
	VRSK	A	0.04%	0.06%	0.04%
	VRSN	C	0.02%	0.03%	0.02%
	VRTX	D	0.13%	0.18%	0.13%
	VST	A	0.05%	0.08%	0.05%
	VTR	B	0.03%	0.04%	0.03%
	VTRS	A	0.02%	0.02%	0.02%
	VZ	C	0.19%	0.26%	0.19%
	WAB	B	0.04%	0.05%	0.04%
	WAT	C	0.02%	0.03%	0.02%
	WBA	F	0.01%	0.01%	0.01%
	WBD	B	0.02%	0.03%	0.02%
	WDC	D	0.02%	0.03%	0.02%
	WEC	A	0.03%	0.05%	0.03%
	WELL	A	0.08%	0.13%	0.08%
	WFC	A	0.27%	0.39%	0.27%
	WM	B	0.09%	0.13%	0.09%
	WMB	A	0.07%	0.11%	0.07%
	WMT	A	0.4%	0.56%	0.4%
	WRB	A	0.02%	0.03%	0.02%
	WST	C	0.03%	0.03%	0.03%
	WTW	B	0.03%	0.05%	0.03%
	WY	F	0.02%	0.03%	0.02%
	WYNN	C	0.01%	0.01%	0.01%
	XEL	A	0.04%	0.06%	0.04%
	XOM	B	0.58%	0.8%	0.58%
	XYL	D	0.03%	0.04%	0.03%
	YUM	D	0.04%	0.06%	0.04%
	ZBH	C	0.02%	0.03%	0.02%
	ZBRA	B	0.02%	0.03%	0.02%
	ZTS	D	0.09%	0.12%	0.09%

PHDG Overweight 15 Positions Relative to KOKU

	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%

PHDG Underweight 130 Positions Relative to KOKU

	Symbol	Grade	Weight
	NVS	F	-0.3%
	HSBH	B	-0.25%
	UL	D	-0.22%
	SHOP	B	-0.19%
	TD	D	-0.15%
	MELI	C	-0.13%
	MRVL	B	-0.11%
	APO	B	-0.1%
	DEO	F	-0.1%
	COIN	C	-0.09%
	APP	B	-0.09%
	CNI	F	-0.09%
	LNG	A	-0.08%
	TTD	B	-0.08%
	DASH	B	-0.08%
	WDAY	B	-0.08%
	MSTR	B	-0.08%
	SQ	A	-0.07%
	WCN	A	-0.07%
	LYG	D	-0.07%
	FLUT	A	-0.07%
	BCS	A	-0.07%
	SNOW	B	-0.06%
	VRT	B	-0.06%
	GOLD	C	-0.05%
	ARES	A	-0.05%
	VEEV	C	-0.05%
	E	F	-0.05%
	HUBS	A	-0.05%
	DDOG	A	-0.05%
	TEAM	A	-0.05%
	SE	A	-0.05%
	LPLA	A	-0.04%
	NET	B	-0.04%
	TPL	A	-0.04%
	STLA	F	-0.04%
	ALNY	D	-0.04%
	CHKP	C	-0.03%
	RPM	A	-0.03%
	ACM	B	-0.03%
	BAH	F	-0.03%
	SSNC	B	-0.03%
	LII	A	-0.03%
	OC	A	-0.03%
	EQH	C	-0.03%
	PINS	F	-0.03%
	TEVA	C	-0.03%
	AER	A	-0.03%
	ZS	B	-0.03%
	TRU	D	-0.03%
	MDB	B	-0.03%
	FCNCA	A	-0.03%
	ZM	C	-0.03%
	RBLX	C	-0.03%
	CSL	C	-0.03%
	ILMN	C	-0.03%
	EME	A	-0.03%
	MKL	A	-0.03%
	FBIN	D	-0.02%
	MNDY	C	-0.02%
	CNH	C	-0.02%
	OVV	B	-0.02%
	WIX	A	-0.02%
	RPRX	D	-0.02%
	HEI	A	-0.02%
	OKTA	C	-0.02%
	NBIX	C	-0.02%
	SNAP	D	-0.02%
	BMRN	F	-0.02%
	ALLY	C	-0.02%
	DKS	D	-0.02%
	AMH	C	-0.02%
	CCK	D	-0.02%
	LOGI	D	-0.02%
	WTRG	B	-0.02%
	AVTR	F	-0.02%
	WPC	C	-0.02%
	CYBR	A	-0.02%
	TOST	B	-0.02%
	ELS	C	-0.02%
	HOOD	B	-0.02%
	TW	A	-0.02%
	GGG	B	-0.02%
	GLPI	C	-0.02%
	CCEP	C	-0.02%
	SUI	C	-0.02%
	FNF	B	-0.02%
	PSTG	D	-0.02%
	ENTG	D	-0.02%
	DT	D	-0.02%
	DOCU	B	-0.02%
	WSM	C	-0.02%
	WSO	A	-0.02%
	TWLO	A	-0.02%
	BURL	B	-0.02%
	XRX	F	-0.02%
	UTHR	C	-0.02%
	HEI	A	-0.02%
	RBA	A	-0.02%
	RS	B	-0.02%
	DKNG	B	-0.02%
	MANH	D	-0.02%
	GLBE	B	-0.01%
	WFG	C	-0.01%
	CELH	F	-0.01%
	WLK	D	-0.01%
	H	B	-0.01%
	FUTU	D	-0.01%
	UHAL	D	-0.01%
	BSY	F	-0.01%
	RIVN	F	-0.01%
	ACI	C	-0.01%
	BBWI	C	-0.01%
	DINO	D	-0.01%
	OTEX	F	-0.01%
	CRBG	B	-0.01%
	CHRD	D	-0.01%
	TTC	C	-0.01%
	ROKU	D	-0.01%
	KNX	C	-0.01%
	BIO	C	-0.01%
	EXAS	D	-0.01%
	QGEN	D	-0.01%
	IOT	A	-0.01%
	CG	B	-0.01%
	SEIC	B	-0.01%
	GRAB	A	-0.01%
	AFG	A	-0.01%
	Z	A	-0.01%
	DOOO	F	-0.0%

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

KOKU: Top Represented Industries & Keywords

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

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