SSPY vs. PHDG ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$82.04

Average Daily Volume

2,303

Number of Holdings ^*

500

* 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	SSPY	PHDG
30 Days	4.23%	0.66%
60 Days	1.79%	1.51%
90 Days	3.72%	1.58%
12 Months	23.81%	18.52%

498 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in PHDG	Overlap
A	D	0.15%	0.04%	0.04%
AAPL	C	0.5%	3.74%	0.5%
ABBV	D	0.24%	0.32%	0.24%
ABNB	C	0.12%	0.06%	0.06%
ABT	B	0.06%	0.22%	0.06%
ACGL	D	0.14%	0.04%	0.04%
ACN	C	0.13%	0.24%	0.13%
ADBE	C	0.16%	0.25%	0.16%
ADI	D	0.22%	0.11%	0.11%
ADM	D	0.37%	0.03%	0.03%
ADP	B	0.21%	0.13%	0.13%
ADSK	A	0.17%	0.07%	0.07%
AEE	A	0.08%	0.03%	0.03%
AEP	D	0.24%	0.05%	0.05%
AES	F	0.32%	0.01%	0.01%
AFL	B	0.2%	0.06%	0.06%
AIG	B	0.2%	0.05%	0.05%
AIZ	A	0.2%	0.01%	0.01%
AJG	B	0.03%	0.07%	0.03%
AKAM	D	0.27%	0.01%	0.01%
ALB	C	0.05%	0.01%	0.01%
ALGN	D	0.1%	0.02%	0.02%
ALL	A	0.2%	0.06%	0.06%
ALLE	D	0.08%	0.01%	0.01%
AMAT	F	0.18%	0.17%	0.17%
AMCR	D	0.13%	0.02%	0.02%
AMD	F	0.14%	0.24%	0.14%
AME	A	0.13%	0.05%	0.05%
AMGN	D	0.24%	0.17%	0.17%
AMP	A	0.08%	0.06%	0.06%
AMT	D	0.06%	0.1%	0.06%
AMZN	C	0.22%	2.13%	0.22%
ANET	C	0.21%	0.11%	0.11%
ANSS	B	0.17%	0.03%	0.03%
AON	A	0.04%	0.09%	0.04%
AOS	F	0.21%	0.01%	0.01%
APA	D	0.07%	0.01%	0.01%
APD	A	0.05%	0.08%	0.05%
APH	A	0.19%	0.09%	0.09%
APTV	D	0.4%	0.02%	0.02%
ARE	D	0.11%	0.02%	0.02%
ATO	A	0.33%	0.02%	0.02%
AVB	B	0.1%	0.03%	0.03%
AVGO	D	0.23%	0.86%	0.23%
AVY	D	0.06%	0.02%	0.02%
AWK	D	0.32%	0.03%	0.03%
AXON	A	0.09%	0.05%	0.05%
AXP	A	0.04%	0.17%	0.04%
AZO	C	0.14%	0.06%	0.06%
BA	F	0.16%	0.11%	0.11%
BAC	A	0.12%	0.33%	0.12%
BALL	D	0.13%	0.02%	0.02%
BAX	D	0.05%	0.02%	0.02%
BBY	D	0.17%	0.02%	0.02%
BDX	F	0.05%	0.07%	0.05%
BEN	C	0.09%	0.01%	0.01%
BG	F	0.37%	0.01%	0.01%
BIIB	F	0.24%	0.03%	0.03%
BK	A	0.11%	0.06%	0.06%
BKNG	A	0.11%	0.18%	0.11%
BKR	B	0.35%	0.05%	0.05%
BLDR	D	0.19%	0.02%	0.02%
BLK	C	0.08%	0.16%	0.08%
BMY	B	0.25%	0.13%	0.13%
BR	A	0.11%	0.03%	0.03%
BRK.A	B	0.5%	0.92%	0.5%
BRO	B	0.04%	0.03%	0.03%
BSX	B	0.06%	0.14%	0.06%
BWA	D	0.42%	0.01%	0.01%
BX	A	0.08%	0.14%	0.08%
BXP	D	0.11%	0.01%	0.01%
C	A	0.13%	0.14%	0.13%
CAG	D	0.21%	0.01%	0.01%
CAH	B	0.19%	0.03%	0.03%
CARR	D	0.08%	0.07%	0.07%
CAT	B	0.14%	0.2%	0.14%
CB	C	0.14%	0.12%	0.12%
CBOE	B	0.04%	0.02%	0.02%
CBRE	B	0.04%	0.04%	0.04%
CCI	D	0.06%	0.05%	0.05%
CCL	B	0.09%	0.03%	0.03%
CDNS	B	0.33%	0.09%	0.09%
CDW	F	0.13%	0.03%	0.03%
CE	F	0.07%	0.01%	0.01%
CEG	D	0.38%	0.08%	0.08%
CF	B	0.09%	0.02%	0.02%
CFG	B	0.06%	0.02%	0.02%
CHD	B	0.42%	0.03%	0.03%
CHRW	C	0.09%	0.01%	0.01%
CHTR	C	0.47%	0.04%	0.04%
CI	F	0.19%	0.1%	0.1%
CINF	A	0.14%	0.03%	0.03%
CL	D	0.41%	0.08%	0.08%
CLX	B	0.41%	0.02%	0.02%
CMCSA	B	0.52%	0.18%	0.18%
CME	A	0.04%	0.09%	0.04%
CMG	B	0.5%	0.09%	0.09%
CMI	A	0.08%	0.05%	0.05%
CMS	C	0.08%	0.02%	0.02%
CNC	D	0.26%	0.03%	0.03%
CNP	B	0.26%	0.02%	0.02%
COF	B	0.7%	0.08%	0.08%
COP	C	0.07%	0.14%	0.07%
COR	B	0.18%	0.05%	0.05%
COST	B	0.71%	0.44%	0.44%
CPAY	A	0.04%	0.03%	0.03%
CPB	D	0.2%	0.01%	0.01%
CPRT	A	0.23%	0.05%	0.05%
CPT	B	0.11%	0.01%	0.01%
CRL	C	0.14%	0.01%	0.01%
CRM	B	0.35%	0.35%	0.35%
CRWD	B	0.18%	0.09%	0.09%
CSCO	B	0.21%	0.25%	0.21%
CSGP	D	0.04%	0.03%	0.03%
CSX	B	0.08%	0.07%	0.07%
CTAS	B	0.18%	0.08%	0.08%
CTLT	B	0.25%	0.01%	0.01%
CTRA	B	0.17%	0.02%	0.02%
CTSH	B	0.13%	0.04%	0.04%
CTVA	C	0.08%	0.04%	0.04%
CVS	D	0.69%	0.07%	0.07%
CVX	A	0.76%	0.3%	0.3%
CZR	F	0.07%	0.01%	0.01%
D	C	0.24%	0.05%	0.05%
DAL	C	0.28%	0.04%	0.04%
DAY	B	0.22%	0.01%	0.01%
DD	D	0.05%	0.04%	0.04%
DE	A	0.13%	0.11%	0.11%
DECK	A	0.3%	0.03%	0.03%
DELL	C	0.17%	0.04%	0.04%
DFS	B	0.69%	0.05%	0.05%
DG	F	0.17%	0.02%	0.02%
DGX	A	0.16%	0.02%	0.02%
DHI	D	0.24%	0.05%	0.05%
DHR	F	0.1%	0.17%	0.1%
DIS	B	0.21%	0.21%	0.21%
DLR	B	0.26%	0.06%	0.06%
DLTR	F	0.17%	0.01%	0.01%
DOC	D	0.11%	0.02%	0.02%
DOV	A	0.17%	0.03%	0.03%
DOW	F	0.07%	0.03%	0.03%
DPZ	C	0.52%	0.02%	0.02%
DRI	B	0.51%	0.02%	0.02%
DTE	C	0.25%	0.03%	0.03%
DUK	C	0.07%	0.09%	0.07%
DVA	B	0.11%	0.01%	0.01%
DVN	F	0.16%	0.03%	0.03%
DXCM	D	0.1%	0.03%	0.03%
EA	A	0.49%	0.04%	0.04%
EBAY	D	0.22%	0.03%	0.03%
ECL	D	0.05%	0.07%	0.05%
ED	D	0.24%	0.04%	0.04%
EFX	F	0.04%	0.03%	0.03%
EG	C	0.14%	0.02%	0.02%
EIX	B	0.25%	0.03%	0.03%
EL	F	0.5%	0.02%	0.02%
ELV	F	0.24%	0.1%	0.1%
EMN	D	0.05%	0.01%	0.01%
EMR	A	0.03%	0.08%	0.03%
ENPH	F	0.26%	0.01%	0.01%
EOG	A	0.07%	0.08%	0.07%
EPAM	C	0.13%	0.02%	0.02%
EQIX	A	0.27%	0.09%	0.09%
EQR	B	0.1%	0.03%	0.03%
EQT	B	0.18%	0.03%	0.03%
ERIE	D	0.2%	0.01%	0.01%
ES	D	0.07%	0.02%	0.02%
ESS	B	0.1%	0.02%	0.02%
ETN	A	0.26%	0.16%	0.16%
ETR	B	0.25%	0.03%	0.03%
EVRG	A	0.08%	0.02%	0.02%
EW	C	0.06%	0.04%	0.04%
EXC	C	0.3%	0.04%	0.04%
EXPD	D	0.09%	0.02%	0.02%
EXPE	B	0.12%	0.02%	0.02%
EXR	D	0.11%	0.04%	0.04%
F	C	0.25%	0.05%	0.05%
FANG	D	0.07%	0.04%	0.04%
FAST	B	0.13%	0.05%	0.05%
FCX	D	0.3%	0.07%	0.07%
FDS	B	0.04%	0.02%	0.02%
FDX	B	0.07%	0.07%	0.07%
FE	C	0.24%	0.02%	0.02%
FFIV	B	0.21%	0.02%	0.02%
FI	A	0.06%	0.13%	0.06%
FICO	B	0.05%	0.06%	0.05%
FIS	C	0.05%	0.05%	0.05%
FITB	A	0.06%	0.03%	0.03%
FMC	D	0.09%	0.01%	0.01%
FOX	A	0.1%	0.01%	0.01%
FOXA	B	0.1%	0.01%	0.01%
FRT	B	0.06%	0.01%	0.01%
FSLR	F	0.2%	0.02%	0.02%
FTNT	C	0.17%	0.06%	0.06%
FTV	C	0.03%	0.03%	0.03%
GD	F	0.16%	0.08%	0.08%
GDDY	A	0.27%	0.03%	0.03%
GE	D	0.17%	0.21%	0.17%
GEHC	F	0.1%	0.04%	0.04%
GEN	B	0.17%	0.02%	0.02%
GEV	B	0.18%	0.1%	0.1%
GILD	C	0.25%	0.12%	0.12%
GIS	D	0.21%	0.04%	0.04%
GL	B	0.2%	0.01%	0.01%
GLW	B	0.19%	0.04%	0.04%
GM	B	0.25%	0.07%	0.07%
GNRC	B	0.08%	0.01%	0.01%
GOOG	C	0.23%	0.92%	0.23%
GOOGL	C	0.23%	1.11%	0.23%
GPC	D	0.15%	0.02%	0.02%
GPN	B	0.04%	0.03%	0.03%
GRMN	B	0.33%	0.03%	0.03%
GS	A	0.25%	0.2%	0.2%
GWW	B	0.12%	0.06%	0.06%
HAL	C	0.34%	0.03%	0.03%
HAS	D	0.26%	0.01%	0.01%
HBAN	A	0.06%	0.03%	0.03%
HCA	F	0.33%	0.07%	0.07%
HD	A	0.26%	0.43%	0.26%
HES	B	0.07%	0.04%	0.04%
HIG	B	0.14%	0.04%	0.04%
HII	D	0.08%	0.01%	0.01%
HLT	A	0.12%	0.07%	0.07%
HOLX	D	0.1%	0.02%	0.02%
HON	B	0.17%	0.16%	0.16%
HPE	B	0.19%	0.03%	0.03%
HPQ	B	0.35%	0.04%	0.04%
HRL	D	0.36%	0.01%	0.01%
HSIC	B	0.2%	0.01%	0.01%
HST	C	0.11%	0.01%	0.01%
HSY	F	0.18%	0.03%	0.03%
HUBB	B	0.26%	0.03%	0.03%
HUM	C	0.26%	0.04%	0.04%
HWM	A	0.08%	0.05%	0.05%
IBM	C	0.34%	0.21%	0.21%
ICE	C	0.04%	0.1%	0.04%
IDXX	F	0.1%	0.04%	0.04%
IEX	B	0.2%	0.02%	0.02%
IFF	D	0.05%	0.02%	0.02%
INCY	C	0.25%	0.01%	0.01%
INTC	D	0.16%	0.12%	0.12%
INTU	C	0.2%	0.21%	0.2%
INVH	D	0.1%	0.02%	0.02%
IP	B	0.06%	0.02%	0.02%
IPG	D	0.34%	0.01%	0.01%
IQV	D	0.14%	0.04%	0.04%
IR	B	0.2%	0.04%	0.04%
IRM	D	0.06%	0.04%	0.04%
ISRG	A	0.12%	0.21%	0.12%
IT	C	0.13%	0.04%	0.04%
ITW	B	0.17%	0.08%	0.08%
IVZ	B	0.09%	0.01%	0.01%
J	F	0.4%	0.02%	0.02%
JBHT	C	0.08%	0.02%	0.02%
JBL	B	0.38%	0.02%	0.02%
JCI	C	0.08%	0.06%	0.06%
JKHY	D	0.05%	0.01%	0.01%
JNJ	D	0.24%	0.39%	0.24%
JNPR	F	0.2%	0.01%	0.01%
JPM	A	0.13%	0.74%	0.13%
K	A	0.18%	0.02%	0.02%
KDP	D	0.24%	0.04%	0.04%
KEY	B	0.06%	0.02%	0.02%
KEYS	A	0.21%	0.03%	0.03%
KHC	F	0.21%	0.03%	0.03%
KIM	A	0.06%	0.02%	0.02%
KKR	A	0.09%	0.11%	0.09%
KLAC	D	0.17%	0.09%	0.09%
KMB	D	0.42%	0.05%	0.05%
KMI	A	0.25%	0.06%	0.06%
KMX	B	0.14%	0.01%	0.01%
KO	D	0.25%	0.26%	0.25%
KR	B	0.74%	0.04%	0.04%
KVUE	A	0.42%	0.05%	0.05%
L	A	0.49%	0.02%	0.02%
LDOS	C	0.13%	0.02%	0.02%
LEN	D	0.25%	0.04%	0.04%
LH	C	0.16%	0.02%	0.02%
LHX	C	0.08%	0.05%	0.05%
LIN	D	0.04%	0.23%	0.04%
LKQ	D	0.14%	0.01%	0.01%
LLY	F	0.23%	0.67%	0.23%
LMT	D	0.09%	0.12%	0.09%
LNT	A	0.08%	0.02%	0.02%
LOW	D	0.26%	0.17%	0.17%
LULU	C	0.31%	0.04%	0.04%
LUV	C	0.25%	0.02%	0.02%
LVS	C	0.08%	0.02%	0.02%
LW	C	0.22%	0.01%	0.01%
LYB	F	0.07%	0.02%	0.02%
LYV	A	0.09%	0.02%	0.02%
MA	C	0.04%	0.46%	0.04%
MAA	B	0.1%	0.02%	0.02%
MAR	B	0.12%	0.07%	0.07%
MAS	D	0.19%	0.02%	0.02%
MCD	D	0.5%	0.23%	0.23%
MCHP	D	0.14%	0.04%	0.04%
MCK	B	0.18%	0.09%	0.09%
MCO	B	0.04%	0.08%	0.04%
MDLZ	F	0.18%	0.09%	0.09%
MDT	D	0.06%	0.12%	0.06%
MET	A	0.21%	0.05%	0.05%
META	D	0.47%	1.36%	0.47%
MGM	D	0.07%	0.01%	0.01%
MHK	D	0.19%	0.01%	0.01%
MKC	D	0.21%	0.02%	0.02%
MKTX	D	0.04%	0.01%	0.01%
MLM	B	0.17%	0.04%	0.04%
MMC	B	0.04%	0.12%	0.04%
MMM	D	0.17%	0.08%	0.08%
MNST	C	0.25%	0.04%	0.04%
MO	A	0.35%	0.1%	0.1%
MOH	F	0.25%	0.02%	0.02%
MOS	F	0.08%	0.01%	0.01%
MPC	D	0.49%	0.06%	0.06%
MPWR	F	0.22%	0.03%	0.03%
MRK	F	0.24%	0.27%	0.24%
MRNA	F	0.24%	0.01%	0.01%
MRO	B	0.07%	0.02%	0.02%
MS	A	0.26%	0.18%	0.18%
MSCI	C	0.04%	0.05%	0.04%
MSFT	F	0.32%	3.42%	0.32%
MSI	B	0.49%	0.09%	0.09%
MTB	A	0.06%	0.04%	0.04%
MTCH	D	0.47%	0.01%	0.01%
MTD	D	0.15%	0.03%	0.03%
MU	D	0.15%	0.12%	0.12%
NCLH	B	0.09%	0.01%	0.01%
NDAQ	A	0.04%	0.03%	0.03%
NDSN	B	0.03%	0.02%	0.02%
NEE	D	0.24%	0.17%	0.17%
NEM	D	0.25%	0.05%	0.05%
NFLX	A	0.22%	0.39%	0.22%
NI	A	0.33%	0.02%	0.02%
NKE	D	0.33%	0.1%	0.1%
NOC	D	0.09%	0.07%	0.07%
NOW	A	0.22%	0.23%	0.22%
NRG	B	0.33%	0.02%	0.02%
NSC	B	0.08%	0.06%	0.06%
NTAP	C	0.17%	0.03%	0.03%
NTRS	A	0.08%	0.02%	0.02%
NUE	C	0.26%	0.04%	0.04%
NVDA	C	0.13%	3.89%	0.13%
NVR	D	0.26%	0.03%	0.03%
NWS	B	0.1%	0.0%	0.0%
NWSA	B	0.1%	0.01%	0.01%
NXPI	D	0.23%	0.06%	0.06%
O	D	0.07%	0.05%	0.05%
ODFL	B	0.08%	0.05%	0.05%
OKE	A	0.24%	0.07%	0.07%
OMC	C	0.34%	0.02%	0.02%
ON	D	0.23%	0.03%	0.03%
ORCL	B	0.34%	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	0.16%	0.14%	0.14%
PARA	C	0.2%	0.01%	0.01%
PAYC	B	0.22%	0.01%	0.01%
PAYX	C	0.21%	0.05%	0.05%
PCAR	B	0.13%	0.07%	0.07%
PCG	A	0.08%	0.05%	0.05%
PEG	A	0.26%	0.05%	0.05%
PEP	F	0.18%	0.24%	0.18%
PFE	D	0.24%	0.16%	0.16%
PFG	D	0.21%	0.02%	0.02%
PG	A	0.42%	0.42%	0.42%
PGR	A	0.19%	0.16%	0.16%
PH	A	0.08%	0.1%	0.08%
PHM	D	0.25%	0.03%	0.03%
PKG	A	0.06%	0.02%	0.02%
PLD	D	0.06%	0.11%	0.06%
PLTR	B	0.23%	0.13%	0.13%
PM	B	0.35%	0.21%	0.21%
PNC	B	0.06%	0.09%	0.06%
PNR	A	0.19%	0.02%	0.02%
PNW	B	0.07%	0.01%	0.01%
PODD	C	0.1%	0.02%	0.02%
POOL	C	0.13%	0.01%	0.01%
PPG	F	0.07%	0.03%	0.03%
PPL	B	0.08%	0.03%	0.03%
PRU	A	0.2%	0.05%	0.05%
PSA	D	0.11%	0.06%	0.06%
PSX	C	0.51%	0.06%	0.06%
PTC	A	0.17%	0.02%	0.02%
PWR	A	0.4%	0.05%	0.05%
PYPL	B	0.06%	0.09%	0.06%
QCOM	F	0.22%	0.2%	0.2%
QRVO	F	0.21%	0.01%	0.01%
RCL	A	0.09%	0.06%	0.06%
REG	B	0.06%	0.01%	0.01%
REGN	F	0.22%	0.09%	0.09%
RF	A	0.06%	0.03%	0.03%
RJF	A	0.25%	0.03%	0.03%
RL	B	0.32%	0.01%	0.01%
RMD	C	0.09%	0.04%	0.04%
ROK	B	0.03%	0.04%	0.03%
ROL	B	0.18%	0.02%	0.02%
ROP	B	0.03%	0.07%	0.03%
ROST	C	0.72%	0.05%	0.05%
RSG	A	0.18%	0.05%	0.05%
RTX	C	0.08%	0.17%	0.08%
RVTY	F	0.1%	0.02%	0.02%
SBAC	D	0.06%	0.03%	0.03%
SBUX	A	0.48%	0.12%	0.12%
SCHW	B	0.25%	0.13%	0.13%
SHW	A	0.06%	0.1%	0.06%
SJM	D	0.21%	0.01%	0.01%
SLB	C	0.35%	0.07%	0.07%
SMCI	F	0.15%	0.01%	0.01%
SNA	A	0.25%	0.02%	0.02%
SNPS	B	0.34%	0.09%	0.09%
SO	D	0.08%	0.1%	0.08%
SOLV	C	0.05%	0.01%	0.01%
SPG	B	0.07%	0.06%	0.06%
SPGI	C	0.04%	0.18%	0.04%
SRE	A	0.08%	0.06%	0.06%
STE	F	0.12%	0.02%	0.02%
STLD	B	0.27%	0.02%	0.02%
STT	A	0.12%	0.03%	0.03%
STX	D	0.17%	0.02%	0.02%
STZ	D	0.25%	0.04%	0.04%
SW	A	0.07%	0.03%	0.03%
SWK	D	0.27%	0.01%	0.01%
SWKS	F	0.21%	0.01%	0.01%
SYF	B	0.69%	0.03%	0.03%
SYK	C	0.12%	0.14%	0.12%
SYY	B	0.75%	0.04%	0.04%
T	A	0.33%	0.17%	0.17%
TAP	C	0.25%	0.01%	0.01%
TDG	D	0.08%	0.08%	0.08%
TDY	B	0.03%	0.02%	0.02%
TECH	D	0.15%	0.01%	0.01%
TER	D	0.17%	0.02%	0.02%
TFC	A	0.06%	0.07%	0.06%
TFX	F	0.05%	0.01%	0.01%
TGT	F	0.17%	0.08%	0.08%
TJX	A	0.72%	0.15%	0.15%
TMO	F	0.14%	0.22%	0.14%
TMUS	B	0.33%	0.13%	0.13%
TPR	B	0.33%	0.01%	0.01%
TRGP	B	0.24%	0.05%	0.05%
TRMB	B	0.03%	0.02%	0.02%
TROW	B	0.09%	0.03%	0.03%
TRV	B	0.14%	0.06%	0.06%
TSCO	D	0.12%	0.03%	0.03%
TSLA	B	0.28%	0.93%	0.28%
TSN	B	0.36%	0.02%	0.02%
TT	A	0.07%	0.1%	0.07%
TTWO	A	0.49%	0.03%	0.03%
TXN	C	0.23%	0.2%	0.2%
TXT	D	0.16%	0.02%	0.02%
TYL	B	0.22%	0.03%	0.03%
UAL	A	0.28%	0.03%	0.03%
UBER	D	0.11%	0.16%	0.11%
UDR	B	0.1%	0.01%	0.01%
UHS	D	0.32%	0.01%	0.01%
ULTA	F	0.17%	0.02%	0.02%
UNH	C	0.26%	0.59%	0.26%
UNP	C	0.08%	0.15%	0.08%
UPS	C	0.09%	0.1%	0.09%
URI	B	0.14%	0.06%	0.06%
USB	A	0.06%	0.08%	0.06%
V	A	0.04%	0.56%	0.04%
VICI	C	0.06%	0.04%	0.04%
VLO	C	0.5%	0.05%	0.05%
VLTO	D	0.03%	0.03%	0.03%
VMC	B	0.17%	0.04%	0.04%
VRSK	A	0.04%	0.04%	0.04%
VRSN	F	0.27%	0.02%	0.02%
VRTX	F	0.23%	0.13%	0.13%
VST	B	0.41%	0.05%	0.05%
VTR	C	0.11%	0.03%	0.03%
VTRS	A	0.24%	0.02%	0.02%
VZ	C	0.33%	0.19%	0.19%
WAB	B	0.13%	0.04%	0.04%
WAT	B	0.15%	0.02%	0.02%
WBA	F	0.64%	0.01%	0.01%
WBD	C	0.19%	0.02%	0.02%
WDC	D	0.17%	0.02%	0.02%
WEC	A	0.07%	0.03%	0.03%
WELL	A	0.11%	0.08%	0.08%
WFC	A	0.13%	0.27%	0.13%
WM	A	0.18%	0.09%	0.09%
WMB	A	0.25%	0.07%	0.07%
WMT	A	0.73%	0.4%	0.4%
WRB	A	0.14%	0.02%	0.02%
WST	C	0.05%	0.03%	0.03%
WTW	B	0.03%	0.03%	0.03%
WY	D	0.17%	0.02%	0.02%
WYNN	D	0.08%	0.01%	0.01%
XEL	A	0.08%	0.04%	0.04%
XOM	B	0.77%	0.58%	0.58%
XYL	D	0.19%	0.03%	0.03%
YUM	B	0.51%	0.04%	0.04%
ZBH	C	0.12%	0.02%	0.02%
ZBRA	B	0.13%	0.02%	0.02%
ZTS	D	0.25%	0.09%	0.09%

SSPY Overweight 2 Positions Relative to PHDG

	Symbol	Grade	Weight
	TEL	B	0.19%
	BBWI	D	0.19%

SSPY Underweight 1 Positions Relative to PHDG

	Symbol	Grade	Weight
	LRCX	F	-0.11%