RVRB vs. PHDG ETF Comparison

Comparison of Reverb ETF (RVRB) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

RVRB

Reverb ETF

RVRB Description

The fund will invest in equity securities of companies that are publicly listed on one or more major U.S. national securities exchanges and which are among the largest approximately 500 domestic equity companies as determined by the Adviser on the basis of their free float market capitalization (the "Investable Universe"). In managing the fund, the Adviser employs a market "sentiment" based investment strategy, determined in accordance with its own proprietary web-based algorithm (the "Reverberate App" or the "App"), to adjust the weightings of positions in the fund"s portfolio.

Grade (RS Rating)

Last Trade

$31.38

Average Daily Volume

212

Number of Holdings ^*

510

* 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	RVRB	PHDG
30 Days	3.12%	0.66%
60 Days	5.02%	1.51%
90 Days	7.06%	1.58%
12 Months	31.49%	18.52%

423 Overlapping Holdings

	Symbol	Grade	Weight in RVRB	Weight in PHDG	Overlap
	A	D	0.07%	0.04%	0.04%
	AAPL	C	5.64%	3.74%	3.74%
	ABBV	D	0.52%	0.32%	0.32%
	ABNB	C	0.15%	0.06%	0.06%
	ABT	B	0.35%	0.22%	0.22%
	ACN	C	0.39%	0.24%	0.24%
	ADBE	C	0.41%	0.25%	0.25%
	ADI	D	0.19%	0.11%	0.11%
	ADM	D	0.04%	0.03%	0.03%
	ADP	B	0.21%	0.13%	0.13%
	ADSK	A	0.12%	0.07%	0.07%
	AEE	A	0.05%	0.03%	0.03%
	AEP	D	0.09%	0.05%	0.05%
	AES	F	0.01%	0.01%	0.01%
	AFL	B	0.11%	0.06%	0.06%
	AIG	B	0.09%	0.05%	0.05%
	AJG	B	0.11%	0.07%	0.07%
	AKAM	D	0.01%	0.01%	0.01%
	ALB	C	0.01%	0.01%	0.01%
	ALGN	D	0.03%	0.02%	0.02%
	ALL	A	0.09%	0.06%	0.06%
	AMAT	F	0.27%	0.17%	0.17%
	AMCR	D	0.02%	0.02%	0.02%
	AMD	F	0.39%	0.24%	0.24%
	AME	A	0.09%	0.05%	0.05%
	AMGN	D	0.28%	0.17%	0.17%
	AMP	A	0.11%	0.06%	0.06%
	AMT	D	0.16%	0.1%	0.1%
	AMZN	C	4.4%	2.13%	2.13%
	ANET	C	0.22%	0.11%	0.11%
	ANSS	B	0.04%	0.03%	0.03%
	AON	A	0.14%	0.09%	0.09%
	APD	A	0.12%	0.08%	0.08%
	APH	A	0.16%	0.09%	0.09%
	APTV	D	0.02%	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	1.32%	0.86%	0.86%
	AVY	D	0.03%	0.02%	0.02%
	AWK	D	0.04%	0.03%	0.03%
	AXON	A	0.04%	0.05%	0.04%
	AXP	A	0.37%	0.17%	0.17%
	BA	F	0.14%	0.11%	0.11%
	BAC	A	0.6%	0.33%	0.33%
	BALL	D	0.04%	0.02%	0.02%
	BAX	D	0.03%	0.02%	0.02%
	BBY	D	0.04%	0.02%	0.02%
	BDX	F	0.12%	0.07%	0.07%
	BG	F	0.01%	0.01%	0.01%
	BIIB	F	0.04%	0.03%	0.03%
	BK	A	0.1%	0.06%	0.06%
	BKNG	A	0.32%	0.18%	0.18%
	BKR	B	0.08%	0.05%	0.05%
	BLDR	D	0.03%	0.02%	0.02%
	BLK	C	0.27%	0.16%	0.16%
	BMY	B	0.21%	0.13%	0.13%
	BR	A	0.04%	0.03%	0.03%
	BRK.A	B	1.65%	0.92%	0.92%
	BRO	B	0.06%	0.03%	0.03%
	BSX	B	0.24%	0.14%	0.14%
	BX	A	0.23%	0.14%	0.14%
	C	A	0.23%	0.14%	0.14%
	CAG	D	0.01%	0.01%	0.01%
	CAH	B	0.05%	0.03%	0.03%
	CARR	D	0.12%	0.07%	0.07%
	CAT	B	0.35%	0.2%	0.2%
	CB	C	0.2%	0.12%	0.12%
	CBRE	B	0.07%	0.04%	0.04%
	CCI	D	0.08%	0.05%	0.05%
	CCL	B	0.06%	0.03%	0.03%
	CDNS	B	0.16%	0.09%	0.09%
	CDW	F	0.05%	0.03%	0.03%
	CE	F	0.01%	0.01%	0.01%
	CEG	D	0.13%	0.08%	0.08%
	CF	B	0.02%	0.02%	0.02%
	CFG	B	0.04%	0.02%	0.02%
	CHD	B	0.05%	0.03%	0.03%
	CHTR	C	0.1%	0.04%	0.04%
	CI	F	0.17%	0.1%	0.1%
	CINF	A	0.04%	0.03%	0.03%
	CL	D	0.13%	0.08%	0.08%
	CLX	B	0.03%	0.02%	0.02%
	CMCSA	B	0.3%	0.18%	0.18%
	CMG	B	0.16%	0.09%	0.09%
	CMI	A	0.09%	0.05%	0.05%
	CMS	C	0.03%	0.02%	0.02%
	CNC	D	0.06%	0.03%	0.03%
	CNP	B	0.03%	0.02%	0.02%
	COF	B	0.12%	0.08%	0.08%
	COP	C	0.23%	0.14%	0.14%
	COR	B	0.08%	0.05%	0.05%
	COST	B	0.77%	0.44%	0.44%
	CPAY	A	0.05%	0.03%	0.03%
	CPB	D	0.01%	0.01%	0.01%
	CPRT	A	0.1%	0.05%	0.05%
	CRM	B	0.55%	0.35%	0.35%
	CRWD	B	0.15%	0.09%	0.09%
	CSCO	B	0.41%	0.25%	0.25%
	CSGP	D	0.05%	0.03%	0.03%
	CSX	B	0.13%	0.07%	0.07%
	CTAS	B	0.17%	0.08%	0.08%
	CTRA	B	0.03%	0.02%	0.02%
	CTSH	B	0.07%	0.04%	0.04%
	CTVA	C	0.07%	0.04%	0.04%
	CVS	D	0.12%	0.07%	0.07%
	CVX	A	0.52%	0.3%	0.3%
	D	C	0.08%	0.05%	0.05%
	DAL	C	0.07%	0.04%	0.04%
	DD	D	0.06%	0.04%	0.04%
	DE	A	0.2%	0.11%	0.11%
	DELL	C	0.16%	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	0.31%	0.17%	0.17%
	DIS	B	0.34%	0.21%	0.21%
	DLR	B	0.1%	0.06%	0.06%
	DLTR	F	0.02%	0.01%	0.01%
	DOV	A	0.05%	0.03%	0.03%
	DOW	F	0.06%	0.03%	0.03%
	DRI	B	0.03%	0.02%	0.02%
	DTE	C	0.05%	0.03%	0.03%
	DUK	C	0.15%	0.09%	0.09%
	DVN	F	0.05%	0.03%	0.03%
	DXCM	D	0.05%	0.03%	0.03%
	EA	A	0.07%	0.04%	0.04%
	EBAY	D	0.06%	0.03%	0.03%
	ECL	D	0.13%	0.07%	0.07%
	ED	D	0.06%	0.04%	0.04%
	EFX	F	0.05%	0.03%	0.03%
	EG	C	0.02%	0.02%	0.02%
	EL	F	0.04%	0.02%	0.02%
	ELV	F	0.16%	0.1%	0.1%
	EMR	A	0.13%	0.08%	0.08%
	ENPH	F	0.01%	0.01%	0.01%
	EOG	A	0.14%	0.08%	0.08%
	EQIX	A	0.17%	0.09%	0.09%
	EQR	B	0.05%	0.03%	0.03%
	EQT	B	0.02%	0.03%	0.02%
	ERIE	D	0.03%	0.01%	0.01%
	ES	D	0.04%	0.02%	0.02%
	ESS	B	0.02%	0.02%	0.02%
	ETN	A	0.26%	0.16%	0.16%
	ETR	B	0.06%	0.03%	0.03%
	EW	C	0.07%	0.04%	0.04%
	EXC	C	0.07%	0.04%	0.04%
	EXPD	D	0.02%	0.02%	0.02%
	EXPE	B	0.05%	0.02%	0.02%
	EXR	D	0.06%	0.04%	0.04%
	F	C	0.08%	0.05%	0.05%
	FANG	D	0.06%	0.04%	0.04%
	FAST	B	0.08%	0.05%	0.05%
	FCX	D	0.11%	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%
	FI	A	0.23%	0.13%	0.13%
	FICO	B	0.15%	0.06%	0.06%
	FIS	C	0.09%	0.05%	0.05%
	FMC	D	0.01%	0.01%	0.01%
	FOX	A	0.04%	0.01%	0.01%
	FSLR	F	0.04%	0.02%	0.02%
	FTNT	C	0.13%	0.06%	0.06%
	FTV	C	0.05%	0.03%	0.03%
	GDDY	A	0.05%	0.03%	0.03%
	GE	D	0.34%	0.21%	0.21%
	GEHC	F	0.07%	0.04%	0.04%
	GEV	B	0.17%	0.1%	0.1%
	GILD	C	0.2%	0.12%	0.12%
	GIS	D	0.06%	0.04%	0.04%
	GLW	B	0.07%	0.04%	0.04%
	GM	B	0.11%	0.07%	0.07%
	GOOGL	C	4.05%	1.11%	1.11%
	GPC	D	0.03%	0.02%	0.02%
	GPN	B	0.05%	0.03%	0.03%
	GRMN	B	0.07%	0.03%	0.03%
	GS	A	0.34%	0.2%	0.2%
	GWW	B	0.08%	0.06%	0.06%
	HAL	C	0.05%	0.03%	0.03%
	HBAN	A	0.04%	0.03%	0.03%
	HCA	F	0.15%	0.07%	0.07%
	HD	A	0.75%	0.43%	0.43%
	HES	B	0.08%	0.04%	0.04%
	HIG	B	0.06%	0.04%	0.04%
	HLT	A	0.11%	0.07%	0.07%
	HOLX	D	0.03%	0.02%	0.02%
	HON	B	0.21%	0.16%	0.16%
	HPE	B	0.05%	0.03%	0.03%
	HPQ	B	0.06%	0.04%	0.04%
	HRL	D	0.03%	0.01%	0.01%
	HSY	F	0.07%	0.03%	0.03%
	HUBB	B	0.03%	0.03%	0.03%
	HUM	C	0.05%	0.04%	0.04%
	HWM	A	0.08%	0.05%	0.05%
	IBM	C	0.33%	0.21%	0.21%
	ICE	C	0.16%	0.1%	0.1%
	IDXX	F	0.05%	0.04%	0.04%
	IEX	B	0.01%	0.02%	0.01%
	IFF	D	0.04%	0.02%	0.02%
	INCY	C	0.01%	0.01%	0.01%
	INTC	D	0.18%	0.12%	0.12%
	INTU	C	0.36%	0.21%	0.21%
	INVH	D	0.04%	0.02%	0.02%
	IP	B	0.02%	0.02%	0.02%
	IQV	D	0.07%	0.04%	0.04%
	IR	B	0.07%	0.04%	0.04%
	IRM	D	0.06%	0.04%	0.04%
	ISRG	A	0.34%	0.21%	0.21%
	IT	C	0.07%	0.04%	0.04%
	ITW	B	0.14%	0.08%	0.08%
	J	F	0.04%	0.02%	0.02%
	JBHT	C	0.04%	0.02%	0.02%
	JBL	B	0.02%	0.02%	0.02%
	JCI	C	0.1%	0.06%	0.06%
	JNJ	D	0.46%	0.39%	0.39%
	JPM	A	1.18%	0.74%	0.74%
	K	A	0.05%	0.02%	0.02%
	KDP	D	0.08%	0.04%	0.04%
	KEY	B	0.02%	0.02%	0.02%
	KEYS	A	0.05%	0.03%	0.03%
	KHC	F	0.07%	0.03%	0.03%
	KKR	A	0.24%	0.11%	0.11%
	KLAC	D	0.17%	0.09%	0.09%
	KMB	D	0.08%	0.05%	0.05%
	KMI	A	0.11%	0.06%	0.06%
	KO	D	0.5%	0.26%	0.26%
	KR	B	0.08%	0.04%	0.04%
	KVUE	A	0.08%	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	0.02%	0.02%	0.02%
	LHX	C	0.08%	0.05%	0.05%
	LIN	D	0.38%	0.23%	0.23%
	LKQ	D	0.01%	0.01%	0.01%
	LLY	F	1.31%	0.67%	0.67%
	LMT	D	0.24%	0.12%	0.12%
	LOW	D	0.28%	0.17%	0.17%
	LRCX	F	0.19%	0.11%	0.11%
	LULU	C	0.06%	0.04%	0.04%
	LUV	C	0.04%	0.02%	0.02%
	LVS	C	0.07%	0.02%	0.02%
	LW	C	0.01%	0.01%	0.01%
	LYB	F	0.05%	0.02%	0.02%
	LYV	A	0.06%	0.02%	0.02%
	MA	C	0.87%	0.46%	0.46%
	MAA	B	0.03%	0.02%	0.02%
	MAR	B	0.14%	0.07%	0.07%
	MAS	D	0.03%	0.02%	0.02%
	MCD	D	0.36%	0.23%	0.23%
	MCHP	D	0.06%	0.04%	0.04%
	MCK	B	0.16%	0.09%	0.09%
	MCO	B	0.15%	0.08%	0.08%
	MDLZ	F	0.16%	0.09%	0.09%
	MDT	D	0.2%	0.12%	0.12%
	MET	A	0.11%	0.05%	0.05%
	META	D	2.4%	1.36%	1.36%
	MGM	D	0.01%	0.01%	0.01%
	MKC	D	0.04%	0.02%	0.02%
	MLM	B	0.08%	0.04%	0.04%
	MMC	B	0.2%	0.12%	0.12%
	MMM	D	0.13%	0.08%	0.08%
	MNST	C	0.1%	0.04%	0.04%
	MO	A	0.17%	0.1%	0.1%
	MOH	F	0.04%	0.02%	0.02%
	MOS	F	0.01%	0.01%	0.01%
	MPC	D	0.09%	0.06%	0.06%
	MPWR	F	0.04%	0.03%	0.03%
	MRK	F	0.35%	0.27%	0.27%
	MRNA	F	0.03%	0.01%	0.01%
	MRO	B	0.01%	0.02%	0.01%
	MS	A	0.38%	0.18%	0.18%
	MSCI	C	0.08%	0.05%	0.05%
	MSFT	F	6.29%	3.42%	3.42%
	MSI	B	0.16%	0.09%	0.09%
	MTB	A	0.07%	0.04%	0.04%
	MTD	D	0.08%	0.03%	0.03%
	MU	D	0.2%	0.12%	0.12%
	NDAQ	A	0.08%	0.03%	0.03%
	NEE	D	0.27%	0.17%	0.17%
	NEM	D	0.08%	0.05%	0.05%
	NFLX	A	0.64%	0.39%	0.39%
	NKE	D	0.21%	0.1%	0.1%
	NOC	D	0.13%	0.07%	0.07%
	NOW	A	0.4%	0.23%	0.23%
	NRG	B	0.02%	0.02%	0.02%
	NSC	B	0.1%	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	6.15%	3.89%	3.89%
	NXPI	D	0.1%	0.06%	0.06%
	O	D	0.09%	0.05%	0.05%
	ODFL	B	0.09%	0.05%	0.05%
	OMC	C	0.03%	0.02%	0.02%
	ON	D	0.05%	0.03%	0.03%
	ORCL	B	0.9%	0.32%	0.32%
	ORLY	B	0.16%	0.08%	0.08%
	OTIS	C	0.07%	0.04%	0.04%
	OXY	D	0.08%	0.04%	0.04%
	PANW	C	0.23%	0.14%	0.14%
	PAYC	B	0.01%	0.01%	0.01%
	PAYX	C	0.09%	0.05%	0.05%
	PCAR	B	0.11%	0.07%	0.07%
	PCG	A	0.1%	0.05%	0.05%
	PEG	A	0.08%	0.05%	0.05%
	PEP	F	0.39%	0.24%	0.24%
	PFE	D	0.25%	0.16%	0.16%
	PFG	D	0.04%	0.02%	0.02%
	PG	A	0.69%	0.42%	0.42%
	PGR	A	0.26%	0.16%	0.16%
	PH	A	0.18%	0.1%	0.1%
	PHM	D	0.05%	0.03%	0.03%
	PKG	A	0.02%	0.02%	0.02%
	PLD	D	0.18%	0.11%	0.11%
	PLTR	B	0.24%	0.13%	0.13%
	PM	B	0.35%	0.21%	0.21%
	PNC	B	0.15%	0.09%	0.09%
	PODD	C	0.02%	0.02%	0.02%
	PPG	F	0.06%	0.03%	0.03%
	PPL	B	0.04%	0.03%	0.03%
	PRU	A	0.08%	0.05%	0.05%
	PSA	D	0.11%	0.06%	0.06%
	PSX	C	0.1%	0.06%	0.06%
	PTC	A	0.04%	0.02%	0.02%
	PWR	A	0.08%	0.05%	0.05%
	PYPL	B	0.16%	0.09%	0.09%
	QCOM	F	0.32%	0.2%	0.2%
	RCL	A	0.1%	0.06%	0.06%
	REGN	F	0.15%	0.09%	0.09%
	RF	A	0.04%	0.03%	0.03%
	RJF	A	0.06%	0.03%	0.03%
	RMD	C	0.06%	0.04%	0.04%
	ROK	B	0.06%	0.04%	0.04%
	ROL	B	0.04%	0.02%	0.02%
	ROP	B	0.11%	0.07%	0.07%
	ROST	C	0.08%	0.05%	0.05%
	RSG	A	0.12%	0.05%	0.05%
	RTX	C	0.27%	0.17%	0.17%
	RVTY	F	0.01%	0.02%	0.01%
	SBAC	D	0.04%	0.03%	0.03%
	SBUX	A	0.19%	0.12%	0.12%
	SCHW	B	0.2%	0.13%	0.13%
	SHW	A	0.17%	0.1%	0.1%
	SJM	D	0.01%	0.01%	0.01%
	SMCI	F	0.02%	0.01%	0.01%
	SNPS	B	0.14%	0.09%	0.09%
	SO	D	0.17%	0.1%	0.1%
	SPG	B	0.1%	0.06%	0.06%
	SPGI	C	0.29%	0.18%	0.18%
	SRE	A	0.1%	0.06%	0.06%
	STE	F	0.04%	0.02%	0.02%
	STLD	B	0.04%	0.02%	0.02%
	STT	A	0.05%	0.03%	0.03%
	STX	D	0.04%	0.02%	0.02%
	STZ	D	0.08%	0.04%	0.04%
	SW	A	0.02%	0.03%	0.02%
	SWKS	F	0.01%	0.01%	0.01%
	SYK	C	0.25%	0.14%	0.14%
	SYY	B	0.07%	0.04%	0.04%
	T	A	0.28%	0.17%	0.17%
	TDG	D	0.16%	0.08%	0.08%
	TDY	B	0.03%	0.02%	0.02%
	TER	D	0.03%	0.02%	0.02%
	TFC	A	0.11%	0.07%	0.07%
	TGT	F	0.13%	0.08%	0.08%
	TJX	A	0.25%	0.15%	0.15%
	TMO	F	0.34%	0.22%	0.22%
	TMUS	B	0.46%	0.13%	0.13%
	TRGP	B	0.07%	0.05%	0.05%
	TRMB	B	0.01%	0.02%	0.01%
	TROW	B	0.05%	0.03%	0.03%
	TRV	B	0.1%	0.06%	0.06%
	TSCO	D	0.05%	0.03%	0.03%
	TSLA	B	1.62%	0.93%	0.93%
	TSN	B	0.04%	0.02%	0.02%
	TT	A	0.16%	0.1%	0.1%
	TTWO	A	0.06%	0.03%	0.03%
	TXN	C	0.33%	0.2%	0.2%
	TXT	D	0.03%	0.02%	0.02%
	TYL	B	0.04%	0.03%	0.03%
	UAL	A	0.03%	0.03%	0.03%
	UBER	D	0.26%	0.16%	0.16%
	ULTA	F	0.02%	0.02%	0.02%
	UNH	C	0.95%	0.59%	0.59%
	UNP	C	0.26%	0.15%	0.15%
	UPS	C	0.2%	0.1%	0.1%
	URI	B	0.11%	0.06%	0.06%
	USB	A	0.14%	0.08%	0.08%
	V	A	1.19%	0.56%	0.56%
	VICI	C	0.06%	0.04%	0.04%
	VLO	C	0.08%	0.05%	0.05%
	VLTO	D	0.05%	0.03%	0.03%
	VMC	B	0.07%	0.04%	0.04%
	VRSK	A	0.07%	0.04%	0.04%
	VRSN	F	0.04%	0.02%	0.02%
	VRTX	F	0.22%	0.13%	0.13%
	VST	B	0.09%	0.05%	0.05%
	VTR	C	0.04%	0.03%	0.03%
	VZ	C	0.29%	0.19%	0.19%
	WAB	B	0.06%	0.04%	0.04%
	WAT	B	0.05%	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	0.15%	0.08%	0.08%
	WFC	A	0.45%	0.27%	0.27%
	WM	A	0.16%	0.09%	0.09%
	WMB	A	0.12%	0.07%	0.07%
	WMT	A	1.23%	0.4%	0.4%
	WRB	A	0.02%	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%
	XEL	A	0.07%	0.04%	0.04%
	XOM	B	0.9%	0.58%	0.58%
	XYL	D	0.05%	0.03%	0.03%
	YUM	B	0.07%	0.04%	0.04%
	ZBH	C	0.04%	0.02%	0.02%
	ZTS	D	0.15%	0.09%	0.09%

RVRB Overweight 87 Positions Relative to PHDG

	Symbol	Grade	Weight
	SHOP	B	0.24%
	APO	B	0.17%
	TD	F	0.17%
	APP	B	0.16%
	SPOT	B	0.15%
	MRVL	B	0.14%
	SCCO	F	0.14%
	COIN	C	0.13%
	NU	C	0.13%
	MELI	D	0.12%
	EPD	A	0.12%
	WDAY	B	0.12%
	DASH	A	0.12%
	TEAM	A	0.11%
	ET	A	0.1%
	TTD	B	0.1%
	FLUT	A	0.09%
	MPLX	A	0.09%
	SQ	B	0.09%
	VRT	B	0.08%
	CPNG	D	0.08%
	LNG	B	0.08%
	WCN	A	0.08%
	DDOG	A	0.08%
	CCEP	C	0.07%
	ALNY	D	0.07%
	STLA	F	0.07%
	SNOW	C	0.07%
	VEEV	C	0.06%
	NET	B	0.06%
	RBLX	C	0.06%
	ZM	B	0.05%
	TW	A	0.05%
	IOT	A	0.05%
	GOLD	D	0.05%
	ZS	C	0.05%
	ARES	A	0.05%
	HEI	B	0.05%
	ILMN	D	0.04%
	AER	B	0.04%
	MDB	C	0.04%
	BAH	F	0.04%
	GFS	C	0.04%
	STM	F	0.04%
	PHG	D	0.04%
	CQP	B	0.04%
	HUBS	A	0.04%
	DKS	C	0.03%
	ICLR	D	0.03%
	AVTR	F	0.03%
	CSL	C	0.03%
	CVNA	B	0.03%
	CRBG	B	0.03%
	WLK	D	0.03%
	WSO	A	0.03%
	PINS	D	0.03%
	CHKP	D	0.03%
	DKNG	B	0.03%
	MT	B	0.03%
	YUMC	C	0.02%
	SNAP	C	0.02%
	CHWY	B	0.02%
	WSM	B	0.02%
	BURL	A	0.02%
	RS	B	0.02%
	LPLA	A	0.02%
	SUI	D	0.02%
	HOOD	B	0.02%
	CELH	F	0.01%
	IEP	F	0.01%
	ETSY	D	0.01%
	U	C	0.01%
	AAL	B	0.01%
	SIRI	C	0.01%
	RIVN	F	0.01%
	EXAS	D	0.01%
	RPRX	D	0.01%
	OKTA	C	0.01%
	WPC	D	0.01%
	AGR	B	0.01%
	CNH	C	0.01%
	BSY	D	0.01%
	BMRN	D	0.01%
	DT	C	0.01%
	WMG	C	0.01%
	FTRE	D	0.0%
	LCID	F	0.0%

RVRB Underweight 76 Positions Relative to PHDG

	Symbol	Grade	Weight
	GOOG	C	-0.92%
	CME	A	-0.09%
	GD	F	-0.08%
	SLB	C	-0.07%
	OKE	A	-0.07%
	AZO	C	-0.06%
	ACGL	D	-0.04%
	SYF	B	-0.03%
	DECK	A	-0.03%
	NVR	D	-0.03%
	EIX	B	-0.03%
	FITB	A	-0.03%
	EPAM	C	-0.02%
	NDSN	B	-0.02%
	FFIV	B	-0.02%
	EVRG	A	-0.02%
	DOC	D	-0.02%
	VTRS	A	-0.02%
	LNT	A	-0.02%
	DPZ	C	-0.02%
	NI	A	-0.02%
	GEN	B	-0.02%
	KIM	A	-0.02%
	PNR	A	-0.02%
	SNA	A	-0.02%
	ZBRA	B	-0.02%
	CBOE	B	-0.02%
	QRVO	F	-0.01%
	BEN	C	-0.01%
	PARA	C	-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%
	HSIC	B	-0.01%
	CZR	F	-0.01%
	RL	B	-0.01%
	FRT	B	-0.01%
	WYNN	D	-0.01%
	AOS	F	-0.01%
	TFX	F	-0.01%
	SOLV	C	-0.01%
	GL	B	-0.01%
	MKTX	D	-0.01%
	CRL	C	-0.01%
	PNW	B	-0.01%
	CTLT	B	-0.01%
	FOXA	B	-0.01%
	IPG	D	-0.01%
	TAP	C	-0.01%
	NWSA	B	-0.01%
	AIZ	A	-0.01%
	GNRC	B	-0.01%
	TECH	D	-0.01%
	BXP	D	-0.01%
	NCLH	B	-0.01%
	EMN	D	-0.01%
	UHS	D	-0.01%
	REG	B	-0.01%
	DAY	B	-0.01%
	KMX	B	-0.01%
	HST	C	-0.01%
	ALLE	D	-0.01%
	JKHY	D	-0.01%
	JNPR	F	-0.01%
	CPT	B	-0.01%
	CHRW	C	-0.01%
	SWK	D	-0.01%
	TPR	B	-0.01%
	UDR	B	-0.01%
	POOL	C	-0.01%
	NWS	B	-0.0%

RVRB: Top Represented Industries & Keywords

Industries: Software - Application Diagnostics & Research Semiconductors Utilities - Regulated Electric Business Services Diversified Industrials Specialty Retail Asset Management Capital Markets Drug Manufacturers - Major Oil & Gas E&P Packaged Foods Software - Infrastructure Specialty Chemicals Aerospace & Defense Banks - Regional - US Biotechnology Medical Devices Oil & Gas Midstream Health Care Plans

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

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