FAB vs. PHDG ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$88.95

Average Daily Volume

2,527

Number of Holdings ^*

665

* 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	FAB	PHDG
30 Days	6.40%	0.66%
60 Days	5.80%	1.51%
90 Days	6.32%	1.58%
12 Months	27.56%	18.52%

201 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in PHDG	Overlap
ACN	C	0.09%	0.24%	0.09%
ADM	D	0.38%	0.03%	0.03%
AEE	A	0.36%	0.03%	0.03%
AEP	D	0.23%	0.05%	0.05%
AFL	B	0.25%	0.06%	0.06%
AIG	B	0.45%	0.05%	0.05%
AIZ	A	0.09%	0.01%	0.01%
AKAM	D	0.22%	0.01%	0.01%
APA	D	0.2%	0.01%	0.01%
APD	A	0.09%	0.08%	0.08%
APTV	D	0.33%	0.02%	0.02%
ARE	D	0.16%	0.02%	0.02%
ATO	A	0.36%	0.02%	0.02%
AWK	D	0.08%	0.03%	0.03%
BAC	A	0.3%	0.33%	0.3%
BBY	D	0.23%	0.02%	0.02%
BEN	C	0.18%	0.01%	0.01%
BG	F	0.4%	0.01%	0.01%
BIIB	F	0.22%	0.03%	0.03%
BKR	B	0.3%	0.05%	0.05%
BLDR	D	0.24%	0.02%	0.02%
BWA	D	0.2%	0.01%	0.01%
C	A	0.38%	0.14%	0.14%
CAG	D	0.07%	0.01%	0.01%
CARR	D	0.16%	0.07%	0.07%
CB	C	0.35%	0.12%	0.12%
CE	F	0.24%	0.01%	0.01%
CF	B	0.35%	0.02%	0.02%
CFG	B	0.4%	0.02%	0.02%
CHTR	C	0.31%	0.04%	0.04%
CI	F	0.08%	0.1%	0.08%
CINF	A	0.48%	0.03%	0.03%
CLX	B	0.09%	0.02%	0.02%
CMCSA	B	0.45%	0.18%	0.18%
CMI	A	0.1%	0.05%	0.05%
CMS	C	0.17%	0.02%	0.02%
CNC	D	0.27%	0.03%	0.03%
CNP	B	0.36%	0.02%	0.02%
COF	B	0.43%	0.08%	0.08%
COP	C	0.47%	0.14%	0.14%
CPB	D	0.08%	0.01%	0.01%
CRL	C	0.09%	0.01%	0.01%
CSCO	B	0.19%	0.25%	0.19%
CSX	B	0.18%	0.07%	0.07%
CTRA	B	0.46%	0.02%	0.02%
CTSH	B	0.37%	0.04%	0.04%
CTVA	C	0.08%	0.04%	0.04%
CVS	D	0.38%	0.07%	0.07%
CVX	A	0.48%	0.3%	0.3%
CZR	F	0.04%	0.01%	0.01%
D	C	0.25%	0.05%	0.05%
DAL	C	0.56%	0.04%	0.04%
DD	D	0.08%	0.04%	0.04%
DE	A	0.24%	0.11%	0.11%
DG	F	0.32%	0.02%	0.02%
DGX	A	0.26%	0.02%	0.02%
DHI	D	0.3%	0.05%	0.05%
DIS	B	0.2%	0.21%	0.2%
DOC	D	0.16%	0.02%	0.02%
DOW	F	0.21%	0.03%	0.03%
DRI	B	0.18%	0.02%	0.02%
DTE	C	0.24%	0.03%	0.03%
DUK	C	0.24%	0.09%	0.09%
DVN	F	0.44%	0.03%	0.03%
EBAY	D	0.24%	0.03%	0.03%
ED	D	0.32%	0.04%	0.04%
EG	C	0.41%	0.02%	0.02%
EIX	B	0.16%	0.03%	0.03%
ELV	F	0.14%	0.1%	0.1%
EMN	D	0.12%	0.01%	0.01%
EOG	A	0.48%	0.08%	0.08%
EPAM	C	0.05%	0.02%	0.02%
EQR	B	0.25%	0.03%	0.03%
EQT	B	0.41%	0.03%	0.03%
ETR	B	0.39%	0.03%	0.03%
EVRG	A	0.17%	0.02%	0.02%
EXC	C	0.33%	0.04%	0.04%
EXPD	D	0.08%	0.02%	0.02%
F	C	0.46%	0.05%	0.05%
FANG	D	0.37%	0.04%	0.04%
FDX	B	0.37%	0.07%	0.07%
FE	C	0.16%	0.02%	0.02%
FITB	A	0.28%	0.03%	0.03%
FMC	D	0.18%	0.01%	0.01%
FOXA	B	0.49%	0.01%	0.01%
FTV	C	0.08%	0.03%	0.03%
GD	F	0.08%	0.08%	0.08%
GIS	D	0.15%	0.04%	0.04%
GL	B	0.13%	0.01%	0.01%
GM	B	0.56%	0.07%	0.07%
GPC	D	0.15%	0.02%	0.02%
HAL	C	0.45%	0.03%	0.03%
HBAN	A	0.42%	0.03%	0.03%
HD	A	0.09%	0.43%	0.09%
HIG	B	0.35%	0.04%	0.04%
HII	D	0.1%	0.01%	0.01%
HOLX	D	0.08%	0.02%	0.02%
HPE	B	0.46%	0.03%	0.03%
HPQ	B	0.18%	0.04%	0.04%
HRL	D	0.24%	0.01%	0.01%
HSIC	B	0.04%	0.01%	0.01%
HST	C	0.17%	0.01%	0.01%
HSY	F	0.16%	0.03%	0.03%
HUM	C	0.16%	0.04%	0.04%
IEX	B	0.09%	0.02%	0.02%
INTC	D	0.37%	0.12%	0.12%
IP	B	0.3%	0.02%	0.02%
IPG	D	0.08%	0.01%	0.01%
IVZ	B	0.04%	0.01%	0.01%
J	F	0.09%	0.02%	0.02%
JBHT	C	0.19%	0.02%	0.02%
JBL	B	0.14%	0.02%	0.02%
JNJ	D	0.16%	0.39%	0.16%
KDP	D	0.16%	0.04%	0.04%
KEY	B	0.2%	0.02%	0.02%
KEYS	A	0.08%	0.03%	0.03%
KHC	F	0.23%	0.03%	0.03%
KIM	A	0.19%	0.02%	0.02%
KMI	A	0.42%	0.06%	0.06%
KR	B	0.36%	0.04%	0.04%
L	A	0.37%	0.02%	0.02%
LEN	D	0.4%	0.04%	0.04%
LH	C	0.09%	0.02%	0.02%
LHX	C	0.09%	0.05%	0.05%
LKQ	D	0.13%	0.01%	0.01%
LMT	D	0.08%	0.12%	0.08%
LNT	A	0.25%	0.02%	0.02%
LOW	D	0.08%	0.17%	0.08%
LUV	C	0.28%	0.02%	0.02%
LYB	F	0.38%	0.02%	0.02%
MAA	B	0.08%	0.02%	0.02%
MAS	D	0.08%	0.02%	0.02%
MDLZ	F	0.08%	0.09%	0.08%
MDT	D	0.08%	0.12%	0.08%
MGM	D	0.04%	0.01%	0.01%
MOH	F	0.16%	0.02%	0.02%
MOS	F	0.17%	0.01%	0.01%
MPC	D	0.42%	0.06%	0.06%
MS	A	0.32%	0.18%	0.18%
MTB	A	0.31%	0.04%	0.04%
NDSN	B	0.08%	0.02%	0.02%
NI	A	0.27%	0.02%	0.02%
NKE	D	0.07%	0.1%	0.07%
NUE	C	0.43%	0.04%	0.04%
NVR	D	0.17%	0.03%	0.03%
NWSA	B	0.19%	0.01%	0.01%
ODFL	B	0.1%	0.05%	0.05%
OKE	A	0.21%	0.07%	0.07%
OMC	C	0.09%	0.02%	0.02%
ON	D	0.32%	0.03%	0.03%
OXY	D	0.43%	0.04%	0.04%
PCAR	B	0.51%	0.07%	0.07%
PEP	F	0.08%	0.24%	0.08%
PFG	D	0.09%	0.02%	0.02%
PHM	D	0.39%	0.03%	0.03%
PKG	A	0.19%	0.02%	0.02%
PNC	B	0.2%	0.09%	0.09%
PNW	B	0.18%	0.01%	0.01%
PPG	F	0.16%	0.03%	0.03%
PPL	B	0.26%	0.03%	0.03%
PRU	A	0.18%	0.05%	0.05%
PSX	C	0.43%	0.06%	0.06%
PYPL	B	0.09%	0.09%	0.09%
RF	A	0.29%	0.03%	0.03%
RJF	A	0.23%	0.03%	0.03%
SBUX	A	0.09%	0.12%	0.09%
SJM	D	0.12%	0.01%	0.01%
SLB	C	0.36%	0.07%	0.07%
SNA	A	0.32%	0.02%	0.02%
SOLV	C	0.17%	0.01%	0.01%
SRE	A	0.38%	0.06%	0.06%
STLD	B	0.48%	0.02%	0.02%
STT	A	0.27%	0.03%	0.03%
STX	D	0.23%	0.02%	0.02%
SWKS	F	0.3%	0.01%	0.01%
SYF	B	0.57%	0.03%	0.03%
SYY	B	0.24%	0.04%	0.04%
T	A	0.44%	0.17%	0.17%
TAP	C	0.23%	0.01%	0.01%
TDY	B	0.28%	0.02%	0.02%
TGT	F	0.25%	0.08%	0.08%
TPR	B	0.05%	0.01%	0.01%
TROW	B	0.48%	0.03%	0.03%
TRV	B	0.28%	0.06%	0.06%
TSN	B	0.19%	0.02%	0.02%
TXT	D	0.25%	0.02%	0.02%
UAL	A	0.7%	0.03%	0.03%
UHS	D	0.15%	0.01%	0.01%
ULTA	F	0.25%	0.02%	0.02%
UPS	C	0.08%	0.1%	0.08%
USB	A	0.28%	0.08%	0.08%
VLO	C	0.45%	0.05%	0.05%
VTRS	A	0.38%	0.02%	0.02%
VZ	C	0.32%	0.19%	0.19%
WEC	A	0.17%	0.03%	0.03%
WFC	A	0.45%	0.27%	0.27%
WRB	A	0.09%	0.02%	0.02%
WY	D	0.08%	0.02%	0.02%
XEL	A	0.37%	0.04%	0.04%
XOM	B	0.45%	0.58%	0.45%
ZBH	C	0.35%	0.02%	0.02%

FAB Overweight 464 Positions Relative to PHDG

Symbol	Grade	Weight
RS	B	0.47%
TOL	B	0.43%
LNG	B	0.41%
OC	A	0.39%
CRBG	B	0.37%
ALLY	C	0.36%
MTDR	B	0.26%
AGO	B	0.25%
NOG	A	0.25%
OVV	B	0.25%
CNX	A	0.25%
JXN	C	0.24%
SM	B	0.24%
OSK	B	0.24%
HP	B	0.24%
AMG	B	0.23%
ATKR	C	0.23%
PTEN	C	0.23%
CMC	B	0.23%
AL	B	0.23%
AMR	C	0.22%
TMHC	B	0.22%
CHRD	D	0.22%
PBF	D	0.22%
NFE	D	0.22%
URBN	C	0.22%
NOV	C	0.22%
CIVI	D	0.22%
PVH	C	0.22%
HCC	B	0.22%
DINO	D	0.21%
CADE	B	0.21%
ZM	B	0.21%
MTG	C	0.21%
UNM	A	0.21%
CXW	B	0.21%
MUR	D	0.21%
RDN	C	0.21%
TEX	D	0.21%
LBRT	D	0.2%
R	B	0.2%
G	B	0.2%
RIOT	C	0.2%
MATX	C	0.2%
RUSHA	C	0.2%
LBRDK	C	0.2%
UGI	A	0.2%
TPH	D	0.2%
LAD	A	0.2%
RNR	C	0.2%
ESNT	D	0.19%
RRC	B	0.19%
LEA	D	0.19%
MTH	D	0.19%
DAR	C	0.19%
LNC	B	0.19%
OZK	B	0.19%
CNO	A	0.19%
MGY	A	0.19%
JAZZ	B	0.19%
DDS	B	0.19%
MHO	D	0.19%
KRC	C	0.18%
OTTR	C	0.18%
GBDC	C	0.18%
HRI	B	0.18%
BKH	A	0.18%
ADTN	A	0.18%
DXC	B	0.18%
COOP	B	0.18%
ASO	F	0.18%
AAP	C	0.18%
HOG	D	0.18%
RGA	A	0.18%
GPI	A	0.18%
POR	C	0.17%
WBS	A	0.17%
CNXC	F	0.17%
FHN	A	0.17%
AVT	C	0.17%
SR	A	0.17%
BBWI	D	0.17%
M	D	0.17%
BCC	B	0.17%
FNF	B	0.17%
NFG	A	0.17%
SSNC	B	0.17%
MDU	D	0.16%
KBH	D	0.16%
WCC	B	0.16%
BMBL	C	0.16%
SUM	B	0.16%
GBX	A	0.16%
ZION	B	0.16%
SIG	B	0.16%
BYD	C	0.15%
AMKR	D	0.15%
SANM	B	0.15%
CTOS	C	0.15%
ECVT	C	0.15%
WLK	D	0.15%
CUBI	C	0.15%
BFH	B	0.15%
JBT	B	0.15%
ARW	D	0.15%
OMF	A	0.15%
FNB	A	0.15%
ALK	C	0.15%
COLB	A	0.15%
CLF	F	0.15%
HTZ	C	0.15%
RIG	D	0.14%
BERY	B	0.14%
KMT	B	0.14%
EIG	B	0.14%
WHR	B	0.14%
AXS	A	0.14%
TALO	C	0.14%
DNOW	B	0.14%
INGR	B	0.14%
ULH	B	0.14%
PINC	B	0.14%
ABG	B	0.14%
GMS	B	0.14%
TGNA	B	0.14%
VTLE	C	0.14%
VLY	B	0.14%
CABO	C	0.14%
REZI	A	0.13%
GIII	D	0.13%
VAC	B	0.13%
WS	B	0.13%
BTU	B	0.13%
KOS	F	0.13%
CRGY	B	0.13%
SPNT	A	0.13%
IART	C	0.13%
THO	B	0.13%
OGS	A	0.13%
PAG	B	0.13%
PK	B	0.13%
NXST	C	0.13%
APLE	B	0.13%
RLJ	C	0.13%
TDS	B	0.13%
GT	C	0.13%
GPOR	B	0.13%
OGE	B	0.13%
HELE	C	0.13%
SWX	B	0.13%
GEF	A	0.13%
RES	D	0.12%
ASH	D	0.12%
BY	B	0.12%
ZD	C	0.12%
PEBO	A	0.12%
PRDO	B	0.12%
SON	D	0.12%
AVA	A	0.12%
TRMK	B	0.12%
EPC	D	0.12%
VC	D	0.12%
POST	C	0.12%
AN	C	0.12%
INDB	B	0.12%
IMKTA	C	0.12%
SHO	C	0.12%
ENS	D	0.12%
PARR	D	0.12%
PLAB	C	0.12%
INVA	D	0.12%
SNX	C	0.12%
BC	C	0.12%
UVV	B	0.12%
AEO	F	0.11%
VSH	D	0.11%
MRC	B	0.11%
CCS	D	0.11%
WMK	C	0.11%
SEB	F	0.11%
KSS	F	0.11%
SAH	A	0.11%
DBRG	F	0.11%
WKC	D	0.11%
USM	B	0.11%
PHIN	A	0.11%
EBC	B	0.11%
OLN	D	0.11%
GHC	C	0.11%
FOR	F	0.11%
CAL	D	0.11%
WU	D	0.11%
FFBC	A	0.11%
NWE	B	0.1%
CRC	B	0.1%
ABCB	B	0.1%
ABR	C	0.1%
OEC	C	0.1%
MLKN	D	0.1%
NAVI	C	0.1%
IDA	A	0.1%
PRG	C	0.1%
PB	A	0.1%
UBSI	B	0.1%
EQC	B	0.1%
NWN	A	0.1%
VNT	B	0.1%
LZB	B	0.1%
BV	B	0.1%
CENTA	C	0.1%
HWC	B	0.1%
LADR	B	0.1%
BECN	B	0.1%
CMA	A	0.1%
SBH	C	0.1%
GEO	B	0.1%
CVI	F	0.1%
SEIC	B	0.1%
HGV	B	0.1%
SCSC	B	0.1%
VSCO	B	0.1%
HOV	D	0.1%
DRH	B	0.1%
CMCO	B	0.1%
OGN	D	0.1%
WTFC	A	0.1%
PII	D	0.1%
AMWD	C	0.1%
GES	F	0.1%
MLI	C	0.1%
FRME	B	0.09%
WTRG	B	0.09%
TNET	D	0.09%
MSM	C	0.09%
FIVE	F	0.09%
PFBC	B	0.09%
UFPI	B	0.09%
ALKS	B	0.09%
KFY	B	0.09%
COLM	B	0.09%
WSBC	A	0.09%
CATY	B	0.09%
CRK	B	0.09%
JWN	C	0.09%
SLGN	A	0.09%
SASR	B	0.09%
CASH	A	0.09%
BNL	D	0.09%
PDCO	D	0.09%
KNX	B	0.09%
PLYA	B	0.09%
ADNT	F	0.09%
CUZ	B	0.09%
LPX	B	0.09%
PNM	F	0.09%
BANR	B	0.09%
SLM	A	0.09%
ORI	A	0.09%
AR	B	0.09%
CVBF	A	0.09%
ANDE	D	0.09%
ACA	A	0.09%
VSTS	C	0.09%
BOKF	B	0.09%
HIW	D	0.09%
BUSE	B	0.08%
ARCB	C	0.08%
WPC	D	0.08%
MODG	F	0.08%
WERN	C	0.08%
WGO	C	0.08%
TKR	D	0.08%
REYN	D	0.08%
MCRI	A	0.08%
PTVE	B	0.08%
SNDR	B	0.08%
ALG	B	0.08%
DAN	D	0.08%
HOPE	B	0.08%
SKX	D	0.08%
FIBK	A	0.08%
FCF	A	0.08%
SRCE	B	0.08%
HUBG	A	0.08%
NX	C	0.08%
XRX	F	0.08%
LAUR	A	0.08%
BKE	B	0.08%
AGCO	D	0.08%
BKU	A	0.08%
TCBK	B	0.08%
VBTX	B	0.08%
KALU	C	0.08%
WSFS	A	0.08%
HY	D	0.08%
RNST	B	0.08%
SFNC	B	0.08%
MIDD	C	0.08%
EFSC	B	0.08%
VRTS	B	0.08%
FULT	A	0.08%
ASGN	F	0.08%
TTMI	B	0.07%
LC	A	0.07%
LILAK	D	0.07%
SJW	D	0.07%
PEB	D	0.07%
MRTN	C	0.07%
SPB	C	0.07%
UNF	B	0.07%
KLG	C	0.07%
IPGP	D	0.07%
DIOD	D	0.07%
XHR	B	0.07%
UHAL	D	0.07%
MMS	F	0.07%
SBCF	A	0.06%
GOGO	C	0.06%
FBNC	A	0.06%
CSGS	B	0.06%
AMN	F	0.06%
FHI	A	0.06%
PBH	A	0.06%
OMI	F	0.06%
KAR	B	0.06%
DFH	D	0.06%
NIC	B	0.06%
SNEX	B	0.06%
HMN	B	0.06%
FHB	A	0.06%
CRI	D	0.06%
CAR	C	0.06%
GRBK	D	0.06%
ASB	B	0.06%
SCVL	F	0.06%
VSAT	F	0.06%
SSTK	F	0.06%
LGIH	D	0.06%
AFG	A	0.05%
BJ	A	0.05%
WAL	B	0.05%
ROG	D	0.05%
PATK	D	0.05%
FLR	B	0.05%
ALIT	C	0.05%
DFIN	D	0.05%
SEM	B	0.05%
DEA	D	0.05%
DNB	B	0.05%
MUSA	A	0.05%
SHEN	F	0.05%
THRM	D	0.05%
YETI	C	0.05%
LCII	C	0.05%
PFGC	B	0.05%
SSB	B	0.05%
PSMT	C	0.05%
UCB	A	0.05%
RHI	B	0.05%
SYNA	C	0.05%
AUB	B	0.05%
OFG	B	0.05%
SCL	C	0.05%
CXT	B	0.05%
ARI	C	0.05%
ALEX	C	0.05%
GXO	B	0.05%
LNN	B	0.05%
KWR	C	0.05%
HTH	B	0.05%
STBA	B	0.05%
UMBF	B	0.05%
DK	C	0.05%
ROCK	C	0.05%
GO	C	0.05%
JEF	A	0.05%
ABM	B	0.05%
ENOV	C	0.05%
MTX	B	0.05%
WAFD	B	0.05%
TOWN	B	0.05%
HLF	C	0.05%
IOSP	B	0.05%
BHE	B	0.05%
PNFP	B	0.05%
NWBI	B	0.05%
UPWK	B	0.04%
MYRG	B	0.04%
FBIN	D	0.04%
NSP	D	0.04%
IAC	D	0.04%
FOXF	F	0.04%
AVNS	F	0.04%
RYN	D	0.04%
LFUS	F	0.04%
TTC	D	0.04%
WD	D	0.04%
FUL	F	0.04%
BPOP	B	0.04%
STWD	C	0.04%
SEE	C	0.04%
FAF	A	0.04%
ODP	F	0.04%
LSTR	D	0.04%
MAT	D	0.04%
NJR	A	0.04%
AVNT	B	0.04%
FELE	B	0.04%
SKY	A	0.04%
WTS	B	0.04%
PRGO	B	0.04%
VOYA	B	0.04%
AIR	B	0.03%
HAYW	B	0.03%
SAFT	C	0.03%
MTRN	C	0.03%
XPEL	C	0.03%
DEI	B	0.03%
HLIO	B	0.03%
GNW	A	0.03%
IVT	B	0.03%
CVCO	A	0.03%
PPBI	B	0.03%
ROIC	A	0.03%
SAM	C	0.03%
NBTB	B	0.03%
FDP	B	0.03%
BHF	B	0.03%
BHLB	B	0.03%
PFS	B	0.03%
CBU	B	0.03%
FBK	B	0.03%
MCW	B	0.03%
MGPI	F	0.03%
TCBI	B	0.03%
OPCH	D	0.03%
OLPX	D	0.02%
BLMN	F	0.02%
PLUS	F	0.02%
GIC	D	0.02%
GPRE	F	0.02%
JBGS	D	0.02%
OXM	D	0.02%
CWEN	C	0.02%
SHOO	D	0.02%
AIN	C	0.02%
MSGE	F	0.02%
LXP	D	0.02%
RC	D	0.02%
CMTG	F	0.02%
SHLS	F	0.02%
CNXN	C	0.02%
CC	C	0.02%
NVEE	F	0.02%
KFRC	D	0.02%
NNI	D	0.02%
STC	B	0.02%
NMRK	B	0.02%
CNMD	C	0.02%
OI	C	0.02%
MSEX	B	0.02%
UPBD	B	0.02%
EVTC	B	0.02%
PGRE	F	0.02%

FAB Underweight 298 Positions Relative to PHDG

Symbol	Grade	Weight
NVDA	C	-3.89%
AAPL	C	-3.74%
MSFT	F	-3.42%
AMZN	C	-2.13%
META	D	-1.36%
GOOGL	C	-1.11%
TSLA	B	-0.93%
GOOG	C	-0.92%
BRK.A	B	-0.92%
AVGO	D	-0.86%
JPM	A	-0.74%
LLY	F	-0.67%
UNH	C	-0.59%
V	A	-0.56%
MA	C	-0.46%
COST	B	-0.44%
PG	A	-0.42%
WMT	A	-0.4%
NFLX	A	-0.39%
CRM	B	-0.35%
ORCL	B	-0.32%
ABBV	D	-0.32%
MRK	F	-0.27%
KO	D	-0.26%
ADBE	C	-0.25%
AMD	F	-0.24%
MCD	D	-0.23%
NOW	A	-0.23%
LIN	D	-0.23%
ABT	B	-0.22%
TMO	F	-0.22%
ISRG	A	-0.21%
IBM	C	-0.21%
GE	D	-0.21%
INTU	C	-0.21%
PM	B	-0.21%
QCOM	F	-0.2%
GS	A	-0.2%
CAT	B	-0.2%
TXN	C	-0.2%
SPGI	C	-0.18%
BKNG	A	-0.18%
DHR	F	-0.17%
AMAT	F	-0.17%
NEE	D	-0.17%
RTX	C	-0.17%
AMGN	D	-0.17%
AXP	A	-0.17%
ETN	A	-0.16%
BLK	C	-0.16%
PFE	D	-0.16%
UBER	D	-0.16%
HON	B	-0.16%
PGR	A	-0.16%
TJX	A	-0.15%
UNP	C	-0.15%
PANW	C	-0.14%
BSX	B	-0.14%
BX	A	-0.14%
SYK	C	-0.14%
TMUS	B	-0.13%
BMY	B	-0.13%
PLTR	B	-0.13%
SCHW	B	-0.13%
FI	A	-0.13%
ADP	B	-0.13%
VRTX	F	-0.13%
MMC	B	-0.12%
MU	D	-0.12%
GILD	C	-0.12%
LRCX	F	-0.11%
ANET	C	-0.11%
BA	F	-0.11%
KKR	A	-0.11%
ADI	D	-0.11%
PLD	D	-0.11%
PH	A	-0.1%
GEV	B	-0.1%
ICE	C	-0.1%
SHW	A	-0.1%
AMT	D	-0.1%
TT	A	-0.1%
MO	A	-0.1%
SO	D	-0.1%
ZTS	D	-0.09%
MCK	B	-0.09%
CRWD	B	-0.09%
CME	A	-0.09%
WM	A	-0.09%
AON	A	-0.09%
CMG	B	-0.09%
MSI	B	-0.09%
REGN	F	-0.09%
CDNS	B	-0.09%
SNPS	B	-0.09%
EQIX	A	-0.09%
KLAC	D	-0.09%
APH	A	-0.09%
CEG	D	-0.08%
ORLY	B	-0.08%
TDG	D	-0.08%
MMM	D	-0.08%
ITW	B	-0.08%
EMR	A	-0.08%
CTAS	B	-0.08%
CL	D	-0.08%
MCO	B	-0.08%
WELL	A	-0.08%
ROP	B	-0.07%
HLT	A	-0.07%
TFC	A	-0.07%
FCX	D	-0.07%
ECL	D	-0.07%
HCA	F	-0.07%
AJG	B	-0.07%
BDX	F	-0.07%
MAR	B	-0.07%
ADSK	A	-0.07%
WMB	A	-0.07%
NOC	D	-0.07%
ALL	A	-0.06%
PSA	D	-0.06%
GWW	B	-0.06%
AZO	C	-0.06%
SPG	B	-0.06%
DLR	B	-0.06%
RCL	A	-0.06%
AMP	A	-0.06%
URI	B	-0.06%
FICO	B	-0.06%
JCI	C	-0.06%
NXPI	D	-0.06%
BK	A	-0.06%
ABNB	C	-0.06%
NSC	B	-0.06%
FTNT	C	-0.06%
TRGP	B	-0.05%
COR	B	-0.05%
RSG	A	-0.05%
PEG	A	-0.05%
AXON	A	-0.05%
DFS	B	-0.05%
KMB	D	-0.05%
CCI	D	-0.05%
PCG	A	-0.05%
AME	A	-0.05%
KVUE	A	-0.05%
HWM	A	-0.05%
NEM	D	-0.05%
PAYX	C	-0.05%
FAST	B	-0.05%
ROST	C	-0.05%
VST	B	-0.05%
PWR	A	-0.05%
MSCI	C	-0.05%
FIS	C	-0.05%
MET	A	-0.05%
O	D	-0.05%
CPRT	A	-0.05%
ROK	B	-0.04%
VICI	C	-0.04%
IRM	D	-0.04%
RMD	C	-0.04%
WAB	B	-0.04%
EXR	D	-0.04%
IDXX	F	-0.04%
IQV	D	-0.04%
MCHP	D	-0.04%
MLM	B	-0.04%
GLW	B	-0.04%
VMC	B	-0.04%
ACGL	D	-0.04%
GEHC	F	-0.04%
STZ	D	-0.04%
A	D	-0.04%
LULU	C	-0.04%
YUM	B	-0.04%
DELL	C	-0.04%
MNST	C	-0.04%
EA	A	-0.04%
CBRE	B	-0.04%
EW	C	-0.04%
OTIS	C	-0.04%
HES	B	-0.04%
VRSK	A	-0.04%
IT	C	-0.04%
IR	B	-0.04%
SBAC	D	-0.03%
HUBB	B	-0.03%
CDW	F	-0.03%
NTAP	C	-0.03%
CCL	B	-0.03%
WST	C	-0.03%
SW	A	-0.03%
VLTO	D	-0.03%
CPAY	A	-0.03%
BRO	B	-0.03%
GDDY	A	-0.03%
TYL	B	-0.03%
VTR	C	-0.03%
MTD	D	-0.03%
CHD	B	-0.03%
BR	A	-0.03%
DECK	A	-0.03%
DOV	A	-0.03%
MPWR	F	-0.03%
GPN	B	-0.03%
CAH	B	-0.03%
TTWO	A	-0.03%
XYL	D	-0.03%
ANSS	B	-0.03%
TSCO	D	-0.03%
DXCM	D	-0.03%
CSGP	D	-0.03%
WTW	B	-0.03%
NDAQ	A	-0.03%
EFX	F	-0.03%
AVB	B	-0.03%
GRMN	B	-0.03%
ROL	B	-0.02%
FFIV	B	-0.02%
RVTY	F	-0.02%
AMCR	D	-0.02%
EL	F	-0.02%
DPZ	C	-0.02%
VRSN	F	-0.02%
ALGN	D	-0.02%
MRO	B	-0.02%
AVY	D	-0.02%
BAX	D	-0.02%
GEN	B	-0.02%
LVS	C	-0.02%
TRMB	B	-0.02%
TER	D	-0.02%
PNR	A	-0.02%
PODD	C	-0.02%
BALL	D	-0.02%
MKC	D	-0.02%
NRG	B	-0.02%
FDS	B	-0.02%
INVH	D	-0.02%
ESS	B	-0.02%
LYV	A	-0.02%
ZBRA	B	-0.02%
WDC	D	-0.02%
CBOE	B	-0.02%
FSLR	F	-0.02%
NTRS	A	-0.02%
K	A	-0.02%
STE	F	-0.02%
ES	D	-0.02%
WBD	C	-0.02%
WAT	B	-0.02%
LDOS	C	-0.02%
EXPE	B	-0.02%
IFF	D	-0.02%
PTC	A	-0.02%
FOX	A	-0.01%
QRVO	F	-0.01%
WBA	F	-0.01%
PARA	C	-0.01%
DVA	B	-0.01%
MHK	D	-0.01%
MTCH	D	-0.01%
HAS	D	-0.01%
RL	B	-0.01%
FRT	B	-0.01%
ENPH	F	-0.01%
WYNN	D	-0.01%
AOS	F	-0.01%
TFX	F	-0.01%
SMCI	F	-0.01%
AES	F	-0.01%
MKTX	D	-0.01%
ERIE	D	-0.01%
CTLT	B	-0.01%
PAYC	B	-0.01%
GNRC	B	-0.01%
TECH	D	-0.01%
LW	C	-0.01%
BXP	D	-0.01%
NCLH	B	-0.01%
ALB	C	-0.01%
REG	B	-0.01%
DAY	B	-0.01%
KMX	B	-0.01%
ALLE	D	-0.01%
INCY	C	-0.01%
JKHY	D	-0.01%
JNPR	F	-0.01%
CPT	B	-0.01%
CHRW	C	-0.01%
SWK	D	-0.01%
DLTR	F	-0.01%
UDR	B	-0.01%
MRNA	F	-0.01%
POOL	C	-0.01%
NWS	B	-0.0%