FNDX vs. PHDG ETF Comparison

Comparison of Schwab Fundamental U.S. Large Company Index ETF (FNDX) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

FNDX

Schwab Fundamental U.S. Large Company Index ETF

FNDX Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Large Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$24.83

Average Daily Volume

1,186,729

Number of Holdings ^*

721

* 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	FNDX	PHDG
30 Days	3.67%	0.66%
60 Days	4.58%	1.51%
90 Days	6.53%	1.58%
12 Months	29.67%	18.52%

468 Overlapping Holdings

	Symbol	Grade	Weight in FNDX	Weight in PHDG	Overlap
	A	D	0.05%	0.04%	0.04%
	AAPL	C	4.35%	3.74%	3.74%
	ABBV	D	0.49%	0.32%	0.32%
	ABT	B	0.34%	0.22%	0.22%
	ACGL	D	0.03%	0.04%	0.03%
	ACN	C	0.36%	0.24%	0.24%
	ADBE	C	0.2%	0.25%	0.2%
	ADI	D	0.13%	0.11%	0.11%
	ADM	D	0.21%	0.03%	0.03%
	ADP	B	0.15%	0.13%	0.13%
	ADSK	A	0.03%	0.07%	0.03%
	AEE	A	0.07%	0.03%	0.03%
	AEP	D	0.16%	0.05%	0.05%
	AES	F	0.05%	0.01%	0.01%
	AFL	B	0.21%	0.06%	0.06%
	AIG	B	0.28%	0.05%	0.05%
	AIZ	A	0.03%	0.01%	0.01%
	AJG	B	0.05%	0.07%	0.05%
	AKAM	D	0.03%	0.01%	0.01%
	ALB	C	0.03%	0.01%	0.01%
	ALGN	D	0.02%	0.02%	0.02%
	ALL	A	0.27%	0.06%	0.06%
	ALLE	D	0.01%	0.01%	0.01%
	AMAT	F	0.24%	0.17%	0.17%
	AMCR	D	0.03%	0.02%	0.02%
	AMD	F	0.09%	0.24%	0.09%
	AME	A	0.05%	0.05%	0.05%
	AMGN	D	0.39%	0.17%	0.17%
	AMP	A	0.15%	0.06%	0.06%
	AMT	D	0.11%	0.1%	0.1%
	AMZN	C	1.56%	2.13%	1.56%
	ANET	C	0.04%	0.11%	0.04%
	ANSS	B	0.02%	0.03%	0.02%
	AON	A	0.13%	0.09%	0.09%
	AOS	F	0.02%	0.01%	0.01%
	APA	D	0.03%	0.01%	0.01%
	APD	A	0.13%	0.08%	0.08%
	APH	A	0.09%	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	0.05%	0.03%	0.03%
	AVGO	D	0.61%	0.86%	0.61%
	AVY	D	0.04%	0.02%	0.02%
	AWK	D	0.04%	0.03%	0.03%
	AXP	A	0.36%	0.17%	0.17%
	AZO	C	0.06%	0.06%	0.06%
	BA	F	0.11%	0.11%	0.11%
	BAC	A	1.3%	0.33%	0.33%
	BALL	D	0.06%	0.02%	0.02%
	BAX	D	0.07%	0.02%	0.02%
	BBY	D	0.16%	0.02%	0.02%
	BDX	F	0.11%	0.07%	0.07%
	BEN	C	0.04%	0.01%	0.01%
	BG	F	0.1%	0.01%	0.01%
	BIIB	F	0.09%	0.03%	0.03%
	BK	A	0.26%	0.06%	0.06%
	BKNG	A	0.24%	0.18%	0.18%
	BKR	B	0.16%	0.05%	0.05%
	BLDR	D	0.06%	0.02%	0.02%
	BLK	C	0.28%	0.16%	0.16%
	BMY	B	0.45%	0.13%	0.13%
	BR	A	0.03%	0.03%	0.03%
	BRK.A	B	2.17%	0.92%	0.92%
	BRO	B	0.02%	0.03%	0.02%
	BSX	B	0.09%	0.14%	0.09%
	BWA	D	0.05%	0.01%	0.01%
	BX	A	0.13%	0.14%	0.13%
	BXP	D	0.05%	0.01%	0.01%
	C	A	1.1%	0.14%	0.14%
	CAG	D	0.06%	0.01%	0.01%
	CAH	B	0.07%	0.03%	0.03%
	CARR	D	0.12%	0.07%	0.07%
	CAT	B	0.41%	0.2%	0.2%
	CB	C	0.26%	0.12%	0.12%
	CBOE	B	0.01%	0.02%	0.01%
	CBRE	B	0.13%	0.04%	0.04%
	CCI	D	0.09%	0.05%	0.05%
	CCL	B	0.06%	0.03%	0.03%
	CDNS	B	0.03%	0.09%	0.03%
	CDW	F	0.04%	0.03%	0.03%
	CE	F	0.03%	0.01%	0.01%
	CEG	D	0.1%	0.08%	0.08%
	CF	B	0.07%	0.02%	0.02%
	CFG	B	0.1%	0.02%	0.02%
	CHD	B	0.04%	0.03%	0.03%
	CHRW	C	0.08%	0.01%	0.01%
	CHTR	C	0.35%	0.04%	0.04%
	CI	F	0.48%	0.1%	0.1%
	CINF	A	0.07%	0.03%	0.03%
	CL	D	0.13%	0.08%	0.08%
	CLX	B	0.04%	0.02%	0.02%
	CMCSA	B	0.83%	0.18%	0.18%
	CME	A	0.08%	0.09%	0.08%
	CMG	B	0.04%	0.09%	0.04%
	CMI	A	0.19%	0.05%	0.05%
	CMS	C	0.06%	0.02%	0.02%
	CNC	D	0.19%	0.03%	0.03%
	CNP	B	0.06%	0.02%	0.02%
	COF	B	0.48%	0.08%	0.08%
	COP	C	0.48%	0.14%	0.14%
	COR	B	0.02%	0.05%	0.02%
	COST	B	0.66%	0.44%	0.44%
	CPAY	A	0.06%	0.03%	0.03%
	CPB	D	0.03%	0.01%	0.01%
	CPRT	A	0.03%	0.05%	0.03%
	CPT	B	0.02%	0.01%	0.01%
	CRL	C	0.01%	0.01%	0.01%
	CRM	B	0.15%	0.35%	0.15%
	CSCO	B	0.82%	0.25%	0.25%
	CSX	B	0.22%	0.07%	0.07%
	CTAS	B	0.08%	0.08%	0.08%
	CTLT	B	0.02%	0.01%	0.01%
	CTRA	B	0.03%	0.02%	0.02%
	CTSH	B	0.19%	0.04%	0.04%
	CTVA	C	0.09%	0.04%	0.04%
	CVS	D	0.68%	0.07%	0.07%
	CVX	A	1.25%	0.3%	0.3%
	CZR	F	0.02%	0.01%	0.01%
	D	C	0.17%	0.05%	0.05%
	DAL	C	0.03%	0.04%	0.03%
	DD	D	0.17%	0.04%	0.04%
	DE	A	0.23%	0.11%	0.11%
	DECK	A	0.03%	0.03%	0.03%
	DELL	C	0.03%	0.04%	0.03%
	DFS	B	0.26%	0.05%	0.05%
	DG	F	0.08%	0.02%	0.02%
	DGX	A	0.07%	0.02%	0.02%
	DHI	D	0.16%	0.05%	0.05%
	DHR	F	0.15%	0.17%	0.15%
	DIS	B	0.45%	0.21%	0.21%
	DLR	B	0.08%	0.06%	0.06%
	DLTR	F	0.05%	0.01%	0.01%
	DOC	D	0.03%	0.02%	0.02%
	DOV	A	0.06%	0.03%	0.03%
	DOW	F	0.18%	0.03%	0.03%
	DPZ	C	0.03%	0.02%	0.02%
	DRI	B	0.05%	0.02%	0.02%
	DTE	C	0.07%	0.03%	0.03%
	DUK	C	0.3%	0.09%	0.09%
	DVA	B	0.06%	0.01%	0.01%
	DVN	F	0.09%	0.03%	0.03%
	EA	A	0.09%	0.04%	0.04%
	EBAY	D	0.17%	0.03%	0.03%
	ECL	D	0.08%	0.07%	0.07%
	ED	D	0.12%	0.04%	0.04%
	EFX	F	0.03%	0.03%	0.03%
	EG	C	0.02%	0.02%	0.02%
	EIX	B	0.1%	0.03%	0.03%
	EL	F	0.03%	0.02%	0.02%
	ELV	F	0.36%	0.1%	0.1%
	EMN	D	0.08%	0.01%	0.01%
	EMR	A	0.17%	0.08%	0.08%
	EOG	A	0.23%	0.08%	0.08%
	EPAM	C	0.02%	0.02%	0.02%
	EQIX	A	0.08%	0.09%	0.08%
	EQR	B	0.05%	0.03%	0.03%
	EQT	B	0.04%	0.03%	0.03%
	ES	D	0.08%	0.02%	0.02%
	ESS	B	0.03%	0.02%	0.02%
	ETN	A	0.23%	0.16%	0.16%
	ETR	B	0.12%	0.03%	0.03%
	EVRG	A	0.07%	0.02%	0.02%
	EW	C	0.04%	0.04%	0.04%
	EXC	C	0.17%	0.04%	0.04%
	EXPD	D	0.04%	0.02%	0.02%
	EXPE	B	0.04%	0.02%	0.02%
	EXR	D	0.03%	0.04%	0.03%
	F	C	0.33%	0.05%	0.05%
	FANG	D	0.05%	0.04%	0.04%
	FAST	B	0.07%	0.05%	0.05%
	FCX	D	0.14%	0.07%	0.07%
	FDX	B	0.32%	0.07%	0.07%
	FE	C	0.09%	0.02%	0.02%
	FFIV	B	0.03%	0.02%	0.02%
	FI	A	0.13%	0.13%	0.13%
	FIS	C	0.12%	0.05%	0.05%
	FITB	A	0.13%	0.03%	0.03%
	FMC	D	0.03%	0.01%	0.01%
	FOXA	B	0.1%	0.01%	0.01%
	FSLR	F	0.01%	0.02%	0.01%
	FTNT	C	0.03%	0.06%	0.03%
	FTV	C	0.03%	0.03%	0.03%
	GD	F	0.21%	0.08%	0.08%
	GDDY	A	0.03%	0.03%	0.03%
	GE	D	0.15%	0.21%	0.15%
	GEHC	F	0.09%	0.04%	0.04%
	GEN	B	0.04%	0.02%	0.02%
	GEV	B	0.04%	0.1%	0.04%
	GILD	C	0.37%	0.12%	0.12%
	GIS	D	0.11%	0.04%	0.04%
	GL	B	0.03%	0.01%	0.01%
	GLW	B	0.14%	0.04%	0.04%
	GM	B	0.79%	0.07%	0.07%
	GNRC	B	0.02%	0.01%	0.01%
	GOOG	C	1.14%	0.92%	0.92%
	GOOGL	C	1.33%	1.11%	1.11%
	GPC	D	0.05%	0.02%	0.02%
	GPN	B	0.09%	0.03%	0.03%
	GRMN	B	0.03%	0.03%	0.03%
	GS	A	0.62%	0.2%	0.2%
	GWW	B	0.08%	0.06%	0.06%
	HAL	C	0.06%	0.03%	0.03%
	HAS	D	0.03%	0.01%	0.01%
	HBAN	A	0.08%	0.03%	0.03%
	HCA	F	0.2%	0.07%	0.07%
	HD	A	0.8%	0.43%	0.43%
	HES	B	0.06%	0.04%	0.04%
	HIG	B	0.14%	0.04%	0.04%
	HII	D	0.03%	0.01%	0.01%
	HLT	A	0.06%	0.07%	0.06%
	HOLX	D	0.04%	0.02%	0.02%
	HON	B	0.37%	0.16%	0.16%
	HPE	B	0.21%	0.03%	0.03%
	HPQ	B	0.21%	0.04%	0.04%
	HRL	D	0.03%	0.01%	0.01%
	HSIC	B	0.04%	0.01%	0.01%
	HST	C	0.04%	0.01%	0.01%
	HSY	F	0.04%	0.03%	0.03%
	HUBB	B	0.03%	0.03%	0.03%
	HUM	C	0.19%	0.04%	0.04%
	HWM	A	0.07%	0.05%	0.05%
	IBM	C	0.54%	0.21%	0.21%
	ICE	C	0.11%	0.1%	0.1%
	IDXX	F	0.02%	0.04%	0.02%
	IEX	B	0.03%	0.02%	0.02%
	IFF	D	0.05%	0.02%	0.02%
	INTC	D	0.89%	0.12%	0.12%
	INTU	C	0.11%	0.21%	0.11%
	INVH	D	0.03%	0.02%	0.02%
	IP	B	0.17%	0.02%	0.02%
	IPG	D	0.04%	0.01%	0.01%
	IQV	D	0.07%	0.04%	0.04%
	IR	B	0.03%	0.04%	0.03%
	IRM	D	0.06%	0.04%	0.04%
	ISRG	A	0.09%	0.21%	0.09%
	IT	C	0.03%	0.04%	0.03%
	ITW	B	0.15%	0.08%	0.08%
	IVZ	B	0.05%	0.01%	0.01%
	J	F	0.05%	0.02%	0.02%
	JBHT	C	0.05%	0.02%	0.02%
	JBL	B	0.06%	0.02%	0.02%
	JCI	C	0.16%	0.06%	0.06%
	JKHY	D	0.02%	0.01%	0.01%
	JNJ	D	0.89%	0.39%	0.39%
	JNPR	F	0.05%	0.01%	0.01%
	JPM	A	2.03%	0.74%	0.74%
	K	A	0.07%	0.02%	0.02%
	KDP	D	0.07%	0.04%	0.04%
	KEY	B	0.1%	0.02%	0.02%
	KEYS	A	0.04%	0.03%	0.03%
	KHC	F	0.09%	0.03%	0.03%
	KIM	A	0.03%	0.02%	0.02%
	KKR	A	0.12%	0.11%	0.11%
	KLAC	D	0.08%	0.09%	0.08%
	KMB	D	0.1%	0.05%	0.05%
	KMI	A	0.23%	0.06%	0.06%
	KMX	B	0.06%	0.01%	0.01%
	KO	D	0.35%	0.26%	0.26%
	KR	B	0.3%	0.04%	0.04%
	KVUE	A	0.05%	0.05%	0.05%
	L	A	0.05%	0.02%	0.02%
	LDOS	C	0.07%	0.02%	0.02%
	LEN	D	0.16%	0.04%	0.04%
	LH	C	0.09%	0.02%	0.02%
	LHX	C	0.16%	0.05%	0.05%
	LIN	D	0.33%	0.23%	0.23%
	LKQ	D	0.05%	0.01%	0.01%
	LLY	F	0.2%	0.67%	0.2%
	LMT	D	0.37%	0.12%	0.12%
	LNT	A	0.04%	0.02%	0.02%
	LOW	D	0.43%	0.17%	0.17%
	LRCX	F	0.15%	0.11%	0.11%
	LULU	C	0.01%	0.04%	0.01%
	LUV	C	0.02%	0.02%	0.02%
	LVS	C	0.04%	0.02%	0.02%
	LW	C	0.02%	0.01%	0.01%
	LYB	F	0.14%	0.02%	0.02%
	MA	C	0.29%	0.46%	0.29%
	MAA	B	0.03%	0.02%	0.02%
	MAR	B	0.09%	0.07%	0.07%
	MAS	D	0.05%	0.02%	0.02%
	MCD	D	0.34%	0.23%	0.23%
	MCHP	D	0.05%	0.04%	0.04%
	MCK	B	0.11%	0.09%	0.09%
	MCO	B	0.07%	0.08%	0.07%
	MDLZ	F	0.2%	0.09%	0.09%
	MDT	D	0.16%	0.12%	0.12%
	MET	A	0.26%	0.05%	0.05%
	META	D	1.79%	1.36%	1.36%
	MGM	D	0.06%	0.01%	0.01%
	MHK	D	0.06%	0.01%	0.01%
	MKC	D	0.03%	0.02%	0.02%
	MLM	B	0.04%	0.04%	0.04%
	MMC	B	0.14%	0.12%	0.12%
	MMM	D	0.35%	0.08%	0.08%
	MNST	C	0.05%	0.04%	0.04%
	MO	A	0.37%	0.1%	0.1%
	MOH	F	0.05%	0.02%	0.02%
	MOS	F	0.06%	0.01%	0.01%
	MPC	D	0.4%	0.06%	0.06%
	MRK	F	0.42%	0.27%	0.27%
	MRNA	F	0.03%	0.01%	0.01%
	MRO	B	0.09%	0.02%	0.02%
	MS	A	0.46%	0.18%	0.18%
	MSCI	C	0.03%	0.05%	0.03%
	MSFT	F	2.43%	3.42%	2.43%
	MSI	B	0.07%	0.09%	0.07%
	MTB	A	0.11%	0.04%	0.04%
	MTD	D	0.03%	0.03%	0.03%
	MU	D	0.38%	0.12%	0.12%
	NDAQ	A	0.03%	0.03%	0.03%
	NDSN	B	0.02%	0.02%	0.02%
	NEE	D	0.24%	0.17%	0.17%
	NEM	D	0.13%	0.05%	0.05%
	NFLX	A	0.17%	0.39%	0.17%
	NI	A	0.05%	0.02%	0.02%
	NKE	D	0.19%	0.1%	0.1%
	NOC	D	0.2%	0.07%	0.07%
	NOW	A	0.01%	0.23%	0.01%
	NRG	B	0.1%	0.02%	0.02%
	NSC	B	0.21%	0.06%	0.06%
	NTAP	C	0.07%	0.03%	0.03%
	NTRS	A	0.08%	0.02%	0.02%
	NUE	C	0.19%	0.04%	0.04%
	NVDA	C	0.4%	3.89%	0.4%
	NVR	D	0.08%	0.03%	0.03%
	NWSA	B	0.04%	0.01%	0.01%
	NXPI	D	0.05%	0.06%	0.05%
	O	D	0.04%	0.05%	0.04%
	ODFL	B	0.06%	0.05%	0.05%
	OKE	A	0.14%	0.07%	0.07%
	OMC	C	0.08%	0.02%	0.02%
	ON	D	0.04%	0.03%	0.03%
	ORCL	B	0.5%	0.32%	0.32%
	ORLY	B	0.11%	0.08%	0.08%
	OTIS	C	0.05%	0.04%	0.04%
	OXY	D	0.11%	0.04%	0.04%
	PANW	C	0.03%	0.14%	0.03%
	PARA	C	0.11%	0.01%	0.01%
	PAYX	C	0.06%	0.05%	0.05%
	PCAR	B	0.15%	0.07%	0.07%
	PCG	A	0.03%	0.05%	0.03%
	PEG	A	0.11%	0.05%	0.05%
	PEP	F	0.41%	0.24%	0.24%
	PFE	D	0.68%	0.16%	0.16%
	PFG	D	0.09%	0.02%	0.02%
	PG	A	0.77%	0.42%	0.42%
	PGR	A	0.23%	0.16%	0.16%
	PH	A	0.13%	0.1%	0.1%
	PHM	D	0.11%	0.03%	0.03%
	PKG	A	0.07%	0.02%	0.02%
	PLD	D	0.07%	0.11%	0.07%
	PM	B	0.48%	0.21%	0.21%
	PNC	B	0.3%	0.09%	0.09%
	PNR	A	0.04%	0.02%	0.02%
	PNW	B	0.04%	0.01%	0.01%
	POOL	C	0.02%	0.01%	0.01%
	PPG	F	0.08%	0.03%	0.03%
	PPL	B	0.11%	0.03%	0.03%
	PRU	A	0.22%	0.05%	0.05%
	PSA	D	0.05%	0.06%	0.05%
	PSX	C	0.36%	0.06%	0.06%
	PWR	A	0.07%	0.05%	0.05%
	PYPL	B	0.22%	0.09%	0.09%
	QCOM	F	0.43%	0.2%	0.2%
	QRVO	F	0.03%	0.01%	0.01%
	REG	B	0.02%	0.01%	0.01%
	REGN	F	0.1%	0.09%	0.09%
	RF	A	0.09%	0.03%	0.03%
	RJF	A	0.05%	0.03%	0.03%
	RL	B	0.03%	0.01%	0.01%
	RMD	C	0.03%	0.04%	0.03%
	ROK	B	0.06%	0.04%	0.04%
	ROP	B	0.05%	0.07%	0.05%
	ROST	C	0.07%	0.05%	0.05%
	RSG	A	0.06%	0.05%	0.05%
	RTX	C	0.34%	0.17%	0.17%
	RVTY	F	0.03%	0.02%	0.02%
	SBAC	D	0.02%	0.03%	0.02%
	SBUX	A	0.28%	0.12%	0.12%
	SCHW	B	0.13%	0.13%	0.13%
	SHW	A	0.08%	0.1%	0.08%
	SJM	D	0.05%	0.01%	0.01%
	SLB	C	0.12%	0.07%	0.07%
	SNA	A	0.06%	0.02%	0.02%
	SNPS	B	0.03%	0.09%	0.03%
	SO	D	0.26%	0.1%	0.1%
	SOLV	C	0.02%	0.01%	0.01%
	SPG	B	0.1%	0.06%	0.06%
	SPGI	C	0.15%	0.18%	0.15%
	SRE	A	0.13%	0.06%	0.06%
	STE	F	0.03%	0.02%	0.02%
	STLD	B	0.11%	0.02%	0.02%
	STT	A	0.1%	0.03%	0.03%
	STX	D	0.09%	0.02%	0.02%
	STZ	D	0.07%	0.04%	0.04%
	SW	A	0.09%	0.03%	0.03%
	SWK	D	0.07%	0.01%	0.01%
	SWKS	F	0.04%	0.01%	0.01%
	SYF	B	0.34%	0.03%	0.03%
	SYK	C	0.13%	0.14%	0.13%
	SYY	B	0.1%	0.04%	0.04%
	T	A	1.27%	0.17%	0.17%
	TAP	C	0.05%	0.01%	0.01%
	TDG	D	0.06%	0.08%	0.06%
	TDY	B	0.03%	0.02%	0.02%
	TER	D	0.04%	0.02%	0.02%
	TFC	A	0.23%	0.07%	0.07%
	TFX	F	0.02%	0.01%	0.01%
	TGT	F	0.38%	0.08%	0.08%
	TJX	A	0.22%	0.15%	0.15%
	TMO	F	0.25%	0.22%	0.22%
	TMUS	B	0.25%	0.13%	0.13%
	TPR	B	0.05%	0.01%	0.01%
	TRGP	B	0.07%	0.05%	0.05%
	TRMB	B	0.03%	0.02%	0.02%
	TROW	B	0.13%	0.03%	0.03%
	TRV	B	0.31%	0.06%	0.06%
	TSCO	D	0.06%	0.03%	0.03%
	TSLA	B	0.28%	0.93%	0.28%
	TSN	B	0.2%	0.02%	0.02%
	TT	A	0.06%	0.1%	0.06%
	TTWO	A	0.03%	0.03%	0.03%
	TXN	C	0.34%	0.2%	0.2%
	TXT	D	0.06%	0.02%	0.02%
	UBER	D	0.04%	0.16%	0.04%
	UDR	B	0.02%	0.01%	0.01%
	UHS	D	0.08%	0.01%	0.01%
	ULTA	F	0.03%	0.02%	0.02%
	UNH	C	1.22%	0.59%	0.59%
	UNP	C	0.35%	0.15%	0.15%
	UPS	C	0.28%	0.1%	0.1%
	URI	B	0.13%	0.06%	0.06%
	USB	A	0.32%	0.08%	0.08%
	V	A	0.36%	0.56%	0.36%
	VICI	C	0.02%	0.04%	0.02%
	VLO	C	0.39%	0.05%	0.05%
	VMC	B	0.05%	0.04%	0.04%
	VRSK	A	0.04%	0.04%	0.04%
	VRSN	F	0.01%	0.02%	0.01%
	VRTX	F	0.07%	0.13%	0.07%
	VST	B	0.16%	0.05%	0.05%
	VTR	C	0.08%	0.03%	0.03%
	VTRS	A	0.1%	0.02%	0.02%
	VZ	C	1.13%	0.19%	0.19%
	WAB	B	0.06%	0.04%	0.04%
	WAT	B	0.04%	0.02%	0.02%
	WBA	F	0.17%	0.01%	0.01%
	WBD	C	0.08%	0.02%	0.02%
	WDC	D	0.12%	0.02%	0.02%
	WEC	A	0.08%	0.03%	0.03%
	WELL	A	0.1%	0.08%	0.08%
	WFC	A	1.35%	0.27%	0.27%
	WM	A	0.15%	0.09%	0.09%
	WMB	A	0.17%	0.07%	0.07%
	WMT	A	1.47%	0.4%	0.4%
	WRB	A	0.03%	0.02%	0.02%
	WST	C	0.02%	0.03%	0.02%
	WTW	B	0.07%	0.03%	0.03%
	WY	D	0.09%	0.02%	0.02%
	XEL	A	0.12%	0.04%	0.04%
	XOM	B	1.99%	0.58%	0.58%
	XYL	D	0.03%	0.03%	0.03%
	YUM	B	0.08%	0.04%	0.04%
	ZBH	C	0.05%	0.02%	0.02%
	ZBRA	B	0.04%	0.02%	0.02%
	ZTS	D	0.07%	0.09%	0.07%

FNDX Overweight 253 Positions Relative to PHDG

	Symbol	Grade	Weight
	LUMN	C	0.65%
	ALLY	C	0.1%
	RS	B	0.09%
	ARW	D	0.08%
	USFD	A	0.08%
	WHR	B	0.08%
	WKC	D	0.08%
	JLL	D	0.08%
	OC	A	0.07%
	VFC	C	0.07%
	CMA	A	0.07%
	THC	D	0.07%
	R	B	0.07%
	X	C	0.07%
	LAD	A	0.07%
	AVT	C	0.07%
	OVV	B	0.06%
	TOL	B	0.06%
	M	D	0.06%
	JEF	A	0.06%
	UNM	A	0.06%
	AA	B	0.06%
	ZION	B	0.06%
	OMF	A	0.06%
	LNG	B	0.06%
	FLEX	A	0.06%
	PFGC	B	0.06%
	EME	C	0.06%
	FNF	B	0.06%
	KSS	F	0.06%
	ACM	A	0.05%
	VNO	B	0.05%
	AFG	A	0.05%
	INGR	B	0.05%
	ORI	A	0.05%
	MKL	A	0.05%
	CSL	C	0.05%
	AN	C	0.05%
	KD	B	0.05%
	DXC	B	0.05%
	ALSN	B	0.05%
	LEA	D	0.05%
	EQH	B	0.05%
	TDS	B	0.05%
	GPI	A	0.05%
	CASY	A	0.05%
	DINO	D	0.05%
	SFM	A	0.05%
	BFH	B	0.05%
	LNC	B	0.05%
	FBIN	D	0.04%
	LPX	B	0.04%
	BCC	B	0.04%
	GAP	C	0.04%
	SSNC	B	0.04%
	OSK	B	0.04%
	AMG	B	0.04%
	ZIM	C	0.04%
	UFPI	B	0.04%
	FYBR	D	0.04%
	RPM	A	0.04%
	CNO	A	0.04%
	DOX	D	0.04%
	CRBG	B	0.04%
	SLM	A	0.04%
	TMHC	B	0.04%
	CCK	C	0.04%
	DKS	C	0.04%
	GT	C	0.04%
	RGA	A	0.04%
	RHI	B	0.04%
	FAF	A	0.04%
	MUSA	A	0.04%
	BERY	B	0.04%
	LPLA	A	0.04%
	PVH	C	0.04%
	AYI	B	0.04%
	WCC	B	0.04%
	THO	B	0.04%
	KNX	B	0.04%
	WSM	B	0.04%
	EVR	B	0.04%
	OGN	D	0.04%
	JXN	C	0.04%
	MAN	D	0.04%
	MRVL	B	0.04%
	UGI	A	0.04%
	EXP	A	0.03%
	SEE	C	0.03%
	THG	A	0.03%
	LSTR	D	0.03%
	PRI	A	0.03%
	AR	B	0.03%
	SCI	B	0.03%
	ACI	C	0.03%
	GNTX	C	0.03%
	AAP	C	0.03%
	TRU	D	0.03%
	BTU	B	0.03%
	SQ	B	0.03%
	ITT	A	0.03%
	BBWI	D	0.03%
	KBH	D	0.03%
	BURL	A	0.03%
	ILMN	D	0.03%
	CW	B	0.03%
	TPH	D	0.03%
	LII	A	0.03%
	G	B	0.03%
	FLR	B	0.03%
	SNX	C	0.03%
	BC	C	0.03%
	APO	B	0.03%
	ABG	B	0.03%
	SNV	B	0.03%
	SEIC	B	0.03%
	VOYA	B	0.03%
	ARMK	B	0.03%
	CAR	C	0.03%
	OGE	B	0.03%
	GPK	C	0.03%
	FL	F	0.03%
	RRX	B	0.03%
	AGCO	D	0.03%
	CACI	D	0.03%
	MTH	D	0.03%
	JHG	A	0.03%
	CLF	F	0.03%
	EWBC	A	0.03%
	WU	D	0.03%
	CIEN	B	0.03%
	GNW	A	0.03%
	NXST	C	0.03%
	CG	A	0.03%
	HUN	F	0.03%
	FHN	A	0.03%
	CMC	B	0.03%
	OLN	D	0.03%
	BAH	F	0.03%
	WSO	A	0.03%
	PBF	D	0.03%
	MTZ	B	0.03%
	SANM	B	0.03%
	NWL	B	0.03%
	HBI	B	0.03%
	MLI	C	0.03%
	WLK	D	0.02%
	MDU	D	0.02%
	MTN	C	0.02%
	ODP	F	0.02%
	COHR	B	0.02%
	ALV	C	0.02%
	ALK	C	0.02%
	ADNT	F	0.02%
	FLO	D	0.02%
	MPW	F	0.02%
	MATX	C	0.02%
	LEG	F	0.02%
	BPOP	B	0.02%
	CHKP	D	0.02%
	ARCH	B	0.02%
	TKR	D	0.02%
	MIDD	C	0.02%
	AER	B	0.02%
	NSIT	F	0.02%
	KBR	F	0.02%
	POR	C	0.02%
	MKSI	C	0.02%
	VAC	B	0.02%
	TTC	D	0.02%
	UHAL	D	0.02%
	XRX	F	0.02%
	WPC	D	0.02%
	ASO	F	0.02%
	GLPI	C	0.02%
	WERN	C	0.02%
	OI	C	0.02%
	POST	C	0.02%
	NFG	A	0.02%
	ASGN	F	0.02%
	NAVI	C	0.02%
	SM	B	0.02%
	CCEP	C	0.02%
	LECO	B	0.02%
	ST	F	0.02%
	AL	B	0.02%
	MUR	D	0.02%
	TPX	B	0.02%
	PII	D	0.02%
	STWD	C	0.02%
	PAG	B	0.02%
	HUBG	A	0.02%
	SLG	B	0.02%
	GGG	B	0.02%
	GXO	B	0.02%
	PENN	C	0.02%
	HOG	D	0.02%
	NOV	C	0.02%
	DCI	B	0.02%
	FCNCA	A	0.02%
	NVT	B	0.02%
	AVTR	F	0.02%
	BECN	B	0.02%
	SKX	D	0.02%
	CC	C	0.02%
	CNH	C	0.02%
	SUI	D	0.02%
	LAMR	D	0.02%
	PK	B	0.02%
	BRX	A	0.02%
	MTG	C	0.02%
	ABM	B	0.02%
	DAR	C	0.02%
	ATR	B	0.02%
	BJ	A	0.02%
	EHC	B	0.02%
	RUSHA	C	0.02%
	SAIC	F	0.02%
	REZI	A	0.02%
	TGNA	B	0.02%
	BAP	B	0.02%
	SON	D	0.02%
	AXTA	A	0.02%
	VSH	D	0.01%
	ANDE	D	0.01%
	LILAK	D	0.01%
	CNXC	F	0.01%
	DBX	B	0.01%
	ICLR	D	0.01%
	WTRG	B	0.01%
	MSM	C	0.01%
	SPTN	D	0.01%
	CHE	D	0.01%
	MMS	F	0.01%
	AEO	F	0.01%
	CYH	F	0.01%
	JAZZ	B	0.01%
	BLD	D	0.01%
	TNL	A	0.01%
	PRGO	B	0.01%
	QRTEA	F	0.01%
	AAL	B	0.01%
	FTI	A	0.01%
	JWN	C	0.01%
	HRB	D	0.01%
	XRAY	F	0.01%
	DK	C	0.01%
	HTZ	C	0.01%
	DAN	D	0.01%
	UNFI	A	0.01%
	CRI	D	0.01%
	CNX	A	0.01%
	CPRI	F	0.01%

FNDX Underweight 31 Positions Relative to PHDG

	Symbol	Grade	Weight
	PLTR	B	-0.13%
	CRWD	B	-0.09%
	RCL	A	-0.06%
	FICO	B	-0.06%
	ABNB	C	-0.06%
	AXON	A	-0.05%
	VLTO	D	-0.03%
	TYL	B	-0.03%
	MPWR	F	-0.03%
	DXCM	D	-0.03%
	UAL	A	-0.03%
	CSGP	D	-0.03%
	ROL	B	-0.02%
	PODD	C	-0.02%
	FDS	B	-0.02%
	LYV	A	-0.02%
	PTC	A	-0.02%
	FOX	A	-0.01%
	MTCH	D	-0.01%
	FRT	B	-0.01%
	ENPH	F	-0.01%
	WYNN	D	-0.01%
	SMCI	F	-0.01%
	MKTX	D	-0.01%
	ERIE	D	-0.01%
	PAYC	B	-0.01%
	TECH	D	-0.01%
	NCLH	B	-0.01%
	DAY	B	-0.01%
	INCY	C	-0.01%
	NWS	B	-0.0%

FNDX: Top Represented Industries & Keywords

Industries: Diversified Industrials Asset Management Utilities - Regulated Electric Business Services Oil & Gas E&P Specialty Retail Banks - Regional - US Software - Application Information Technology Services Semiconductors Diagnostics & Research Specialty Chemicals Credit Services Packaged Foods Packaging & Containers Building Materials Insurance - Property & Casualty Auto Parts Capital Markets Drug Manufacturers - Major

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

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