GVUS vs. PHDG ETF Comparison

Comparison of Goldman Sachs MarketBeta Russell 1000 Value Equity ETF (GVUS) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

GVUS

Goldman Sachs MarketBeta Russell 1000 Value Equity ETF

GVUS Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in equity securities included in its underlying index, in depositary receipts representing equity securities included in its underlying index, and in underlying stocks in lieu of depositary receipts included in its underlying index. The index is designed to measure the performance of the large- and mid-capitalization value segment of U.S. equity issuers, with a capping methodology.

Grade (RS Rating)

Last Trade

$50.87

Average Daily Volume

35,490

Number of Holdings ^*

836

* 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	GVUS	PHDG
30 Days	2.39%	0.66%
60 Days	4.06%	1.51%
90 Days	5.58%	1.58%
12 Months		18.52%

435 Overlapping Holdings

Symbol	Grade	Weight in GVUS	Weight in PHDG	Overlap
A	D	0.14%	0.04%	0.04%
ABBV	D	0.65%	0.32%	0.32%
ABT	B	0.78%	0.22%	0.22%
ACGL	D	0.14%	0.04%	0.04%
ACN	C	0.86%	0.24%	0.24%
ADI	D	0.4%	0.11%	0.11%
ADM	D	0.1%	0.03%	0.03%
ADP	B	0.04%	0.13%	0.04%
AEE	A	0.09%	0.03%	0.03%
AEP	D	0.2%	0.05%	0.05%
AES	F	0.04%	0.01%	0.01%
AFL	B	0.24%	0.06%	0.06%
AIG	B	0.19%	0.05%	0.05%
AIZ	A	0.04%	0.01%	0.01%
AJG	B	0.23%	0.07%	0.07%
AKAM	D	0.05%	0.01%	0.01%
ALB	C	0.05%	0.01%	0.01%
ALGN	D	0.03%	0.02%	0.02%
ALL	A	0.17%	0.06%	0.06%
ALLE	D	0.05%	0.01%	0.01%
AMAT	F	0.04%	0.17%	0.04%
AMCR	D	0.06%	0.02%	0.02%
AMD	F	0.29%	0.24%	0.24%
AME	A	0.17%	0.05%	0.05%
AMGN	D	0.13%	0.17%	0.13%
AMP	A	0.02%	0.06%	0.02%
ANSS	B	0.11%	0.03%	0.03%
AON	A	0.29%	0.09%	0.09%
AOS	F	0.03%	0.01%	0.01%
APA	D	0.03%	0.01%	0.01%
APD	A	0.27%	0.08%	0.08%
APH	A	0.14%	0.09%	0.09%
APTV	D	0.06%	0.02%	0.02%
ARE	D	0.07%	0.02%	0.02%
ATO	A	0.08%	0.02%	0.02%
AVB	B	0.13%	0.03%	0.03%
AVY	D	0.04%	0.02%	0.02%
AWK	D	0.1%	0.03%	0.03%
AXP	A	0.39%	0.17%	0.17%
AZO	C	0.02%	0.06%	0.02%
BA	F	0.31%	0.11%	0.11%
BAC	A	1.23%	0.33%	0.33%
BALL	D	0.07%	0.02%	0.02%
BAX	D	0.06%	0.02%	0.02%
BBY	D	0.08%	0.02%	0.02%
BDX	F	0.25%	0.07%	0.07%
BEN	C	0.02%	0.01%	0.01%
BG	F	0.05%	0.01%	0.01%
BIIB	F	0.09%	0.03%	0.03%
BK	A	0.22%	0.06%	0.06%
BKNG	A	0.04%	0.18%	0.04%
BKR	B	0.17%	0.05%	0.05%
BLDR	D	0.07%	0.02%	0.02%
BLK	C	0.6%	0.16%	0.16%
BMY	B	0.44%	0.13%	0.13%
BR	A	0.01%	0.03%	0.01%
BRK.A	B	3.35%	0.92%	0.92%
BRO	B	0.06%	0.03%	0.03%
BSX	B	0.5%	0.14%	0.14%
BWA	D	0.03%	0.01%	0.01%
BXP	D	0.05%	0.01%	0.01%
C	A	0.51%	0.14%	0.14%
CAG	D	0.05%	0.01%	0.01%
CAH	B	0.05%	0.03%	0.03%
CARR	D	0.24%	0.07%	0.07%
CAT	B	0.63%	0.2%	0.2%
CB	C	0.45%	0.12%	0.12%
CBOE	B	0.08%	0.02%	0.02%
CBRE	B	0.16%	0.04%	0.04%
CCI	D	0.18%	0.05%	0.05%
CCL	B	0.09%	0.03%	0.03%
CDW	F	0.05%	0.03%	0.03%
CE	F	0.02%	0.01%	0.01%
CEG	D	0.23%	0.08%	0.08%
CF	B	0.06%	0.02%	0.02%
CFG	B	0.08%	0.02%	0.02%
CHD	B	0.1%	0.03%	0.03%
CHRW	C	0.05%	0.01%	0.01%
CHTR	C	0.14%	0.04%	0.04%
CI	F	0.32%	0.1%	0.1%
CINF	A	0.09%	0.03%	0.03%
CL	D	0.13%	0.08%	0.08%
CMCSA	B	0.64%	0.18%	0.18%
CME	A	0.32%	0.09%	0.09%
CMI	A	0.19%	0.05%	0.05%
CMS	C	0.08%	0.02%	0.02%
CNC	D	0.12%	0.03%	0.03%
CNP	B	0.08%	0.02%	0.02%
COF	B	0.27%	0.08%	0.08%
COP	C	0.51%	0.14%	0.14%
CPB	D	0.03%	0.01%	0.01%
CPRT	A	0.01%	0.05%	0.01%
CPT	B	0.05%	0.01%	0.01%
CRL	C	0.04%	0.01%	0.01%
CRM	B	0.18%	0.35%	0.18%
CSCO	B	0.91%	0.25%	0.25%
CSGP	D	0.11%	0.03%	0.03%
CSX	B	0.27%	0.07%	0.07%
CTAS	B	0.01%	0.08%	0.01%
CTLT	B	0.04%	0.01%	0.01%
CTRA	B	0.07%	0.02%	0.02%
CTSH	B	0.15%	0.04%	0.04%
CTVA	C	0.15%	0.04%	0.04%
CVS	D	0.26%	0.07%	0.07%
CVX	A	1.08%	0.3%	0.3%
CZR	F	0.03%	0.01%	0.01%
D	C	0.19%	0.05%	0.05%
DAL	C	0.16%	0.04%	0.04%
DAY	B	0.04%	0.01%	0.01%
DD	D	0.13%	0.04%	0.04%
DE	A	0.39%	0.11%	0.11%
DELL	C	0.12%	0.04%	0.04%
DFS	B	0.17%	0.05%	0.05%
DG	F	0.06%	0.02%	0.02%
DGX	A	0.07%	0.02%	0.02%
DHI	D	0.19%	0.05%	0.05%
DHR	F	0.58%	0.17%	0.17%
DIS	B	0.82%	0.21%	0.21%
DLR	B	0.23%	0.06%	0.06%
DLTR	F	0.05%	0.01%	0.01%
DOC	D	0.06%	0.02%	0.02%
DOV	A	0.11%	0.03%	0.03%
DOW	F	0.12%	0.03%	0.03%
DPZ	C	0.04%	0.02%	0.02%
DRI	B	0.04%	0.02%	0.02%
DTE	C	0.1%	0.03%	0.03%
DUK	C	0.34%	0.09%	0.09%
DVN	F	0.09%	0.03%	0.03%
EA	A	0.17%	0.04%	0.04%
EBAY	D	0.12%	0.03%	0.03%
ECL	D	0.03%	0.07%	0.03%
ED	D	0.13%	0.04%	0.04%
EFX	F	0.09%	0.03%	0.03%
EG	C	0.05%	0.02%	0.02%
EIX	B	0.12%	0.03%	0.03%
EL	F	0.04%	0.02%	0.02%
ELV	F	0.31%	0.1%	0.1%
EMN	D	0.05%	0.01%	0.01%
EMR	A	0.28%	0.08%	0.08%
EOG	A	0.3%	0.08%	0.08%
EPAM	C	0.05%	0.02%	0.02%
EQIX	A	0.31%	0.09%	0.09%
EQR	B	0.11%	0.03%	0.03%
EQT	B	0.09%	0.03%	0.03%
ES	D	0.08%	0.02%	0.02%
ESS	B	0.08%	0.02%	0.02%
ETN	A	0.56%	0.16%	0.16%
ETR	B	0.12%	0.03%	0.03%
EVRG	A	0.06%	0.02%	0.02%
EW	C	0.13%	0.04%	0.04%
EXC	C	0.15%	0.04%	0.04%
EXPD	D	0.06%	0.02%	0.02%
EXR	D	0.13%	0.04%	0.04%
F	C	0.17%	0.05%	0.05%
FANG	D	0.13%	0.04%	0.04%
FAST	B	0.03%	0.05%	0.03%
FCX	D	0.24%	0.07%	0.07%
FDS	B	0.05%	0.02%	0.02%
FDX	B	0.26%	0.07%	0.07%
FE	C	0.09%	0.02%	0.02%
FFIV	B	0.05%	0.02%	0.02%
FI	A	0.32%	0.13%	0.13%
FICO	B	0.03%	0.06%	0.03%
FIS	C	0.19%	0.05%	0.05%
FITB	A	0.12%	0.03%	0.03%
FMC	D	0.03%	0.01%	0.01%
FOX	A	0.02%	0.01%	0.01%
FOXA	B	0.04%	0.01%	0.01%
FRT	B	0.04%	0.01%	0.01%
FSLR	F	0.08%	0.02%	0.02%
FTNT	C	0.04%	0.06%	0.04%
FTV	C	0.1%	0.03%	0.03%
GD	F	0.31%	0.08%	0.08%
GE	D	0.59%	0.21%	0.21%
GEHC	F	0.13%	0.04%	0.04%
GEN	B	0.06%	0.02%	0.02%
GEV	B	0.35%	0.1%	0.1%
GILD	C	0.43%	0.12%	0.12%
GIS	D	0.14%	0.04%	0.04%
GL	B	0.04%	0.01%	0.01%
GLW	B	0.14%	0.04%	0.04%
GM	B	0.25%	0.07%	0.07%
GNRC	B	0.02%	0.01%	0.01%
GPC	D	0.07%	0.02%	0.02%
GPN	B	0.11%	0.03%	0.03%
GRMN	B	0.12%	0.03%	0.03%
GS	A	0.53%	0.2%	0.2%
GWW	B	0.03%	0.06%	0.03%
HAL	C	0.1%	0.03%	0.03%
HAS	D	0.0%	0.01%	0.0%
HBAN	A	0.1%	0.03%	0.03%
HCA	F	0.19%	0.07%	0.07%
HD	A	0.32%	0.43%	0.32%
HES	B	0.06%	0.04%	0.04%
HIG	B	0.13%	0.04%	0.04%
HII	D	0.03%	0.01%	0.01%
HLT	A	0.12%	0.07%	0.07%
HOLX	D	0.07%	0.02%	0.02%
HON	B	0.49%	0.16%	0.16%
HPE	B	0.11%	0.03%	0.03%
HPQ	B	0.11%	0.04%	0.04%
HRL	D	0.03%	0.01%	0.01%
HSIC	B	0.03%	0.01%	0.01%
HST	C	0.05%	0.01%	0.01%
HSY	F	0.08%	0.03%	0.03%
HUBB	B	0.09%	0.03%	0.03%
HUM	C	0.13%	0.04%	0.04%
HWM	A	0.17%	0.05%	0.05%
IBM	C	0.73%	0.21%	0.21%
ICE	C	0.34%	0.1%	0.1%
IEX	B	0.07%	0.02%	0.02%
IFF	D	0.09%	0.02%	0.02%
INCY	C	0.04%	0.01%	0.01%
INTC	D	0.4%	0.12%	0.12%
INVH	D	0.08%	0.02%	0.02%
IP	B	0.08%	0.02%	0.02%
IPG	D	0.04%	0.01%	0.01%
IQV	D	0.12%	0.04%	0.04%
IR	B	0.16%	0.04%	0.04%
IRM	D	0.06%	0.04%	0.04%
ITW	B	0.19%	0.08%	0.08%
IVZ	B	0.03%	0.01%	0.01%
J	F	0.07%	0.02%	0.02%
JBHT	C	0.06%	0.02%	0.02%
JBL	B	0.05%	0.02%	0.02%
JCI	C	0.22%	0.06%	0.06%
JKHY	D	0.05%	0.01%	0.01%
JNJ	D	1.44%	0.39%	0.39%
JNPR	F	0.05%	0.01%	0.01%
JPM	A	2.73%	0.74%	0.74%
K	A	0.08%	0.02%	0.02%
KDP	D	0.14%	0.04%	0.04%
KEY	B	0.07%	0.02%	0.02%
KEYS	A	0.1%	0.03%	0.03%
KHC	F	0.11%	0.03%	0.03%
KIM	A	0.06%	0.02%	0.02%
KKR	A	0.28%	0.11%	0.11%
KMB	D	0.1%	0.05%	0.05%
KMI	A	0.21%	0.06%	0.06%
KMX	B	0.04%	0.01%	0.01%
KO	D	0.4%	0.26%	0.26%
KR	B	0.15%	0.04%	0.04%
KVUE	A	0.18%	0.05%	0.05%
L	A	0.06%	0.02%	0.02%
LDOS	C	0.08%	0.02%	0.02%
LEN	D	0.16%	0.04%	0.04%
LEN	D	0.01%	0.04%	0.01%
LH	C	0.08%	0.02%	0.02%
LHX	C	0.18%	0.05%	0.05%
LIN	D	0.84%	0.23%	0.23%
LKQ	D	0.04%	0.01%	0.01%
LMT	D	0.3%	0.12%	0.12%
LNT	A	0.06%	0.02%	0.02%
LOW	D	0.6%	0.17%	0.17%
LUV	C	0.08%	0.02%	0.02%
LW	C	0.03%	0.01%	0.01%
LYB	F	0.08%	0.02%	0.02%
MAA	B	0.07%	0.02%	0.02%
MAR	B	0.25%	0.07%	0.07%
MAS	D	0.07%	0.02%	0.02%
MCD	D	0.77%	0.23%	0.23%
MCHP	D	0.13%	0.04%	0.04%
MCK	B	0.17%	0.09%	0.09%
MDLZ	F	0.34%	0.09%	0.09%
MDT	D	0.44%	0.12%	0.12%
MET	A	0.19%	0.05%	0.05%
MGM	D	0.03%	0.01%	0.01%
MHK	D	0.03%	0.01%	0.01%
MKC	D	0.07%	0.02%	0.02%
MKTX	D	0.04%	0.01%	0.01%
MLM	B	0.13%	0.04%	0.04%
MMC	B	0.37%	0.12%	0.12%
MMM	D	0.23%	0.08%	0.08%
MNST	C	0.03%	0.04%	0.03%
MO	A	0.37%	0.1%	0.1%
MOH	F	0.02%	0.02%	0.02%
MOS	F	0.03%	0.01%	0.01%
MPC	D	0.22%	0.06%	0.06%
MRNA	F	0.05%	0.01%	0.01%
MRO	B	0.06%	0.02%	0.02%
MS	A	0.57%	0.18%	0.18%
MSCI	C	0.08%	0.05%	0.05%
MSI	B	0.16%	0.09%	0.09%
MTB	A	0.14%	0.04%	0.04%
MTCH	D	0.03%	0.01%	0.01%
MTD	D	0.1%	0.03%	0.03%
MU	D	0.41%	0.12%	0.12%
NDAQ	A	0.13%	0.03%	0.03%
NDSN	B	0.06%	0.02%	0.02%
NEE	D	0.61%	0.17%	0.17%
NEM	D	0.18%	0.05%	0.05%
NI	A	0.06%	0.02%	0.02%
NKE	D	0.14%	0.1%	0.1%
NOC	D	0.26%	0.07%	0.07%
NRG	B	0.04%	0.02%	0.02%
NSC	B	0.23%	0.06%	0.06%
NTAP	C	0.05%	0.03%	0.03%
NTRS	A	0.08%	0.02%	0.02%
NUE	C	0.14%	0.04%	0.04%
NVR	D	0.1%	0.03%	0.03%
NWS	B	0.01%	0.0%	0.0%
NWSA	B	0.04%	0.01%	0.01%
O	D	0.19%	0.05%	0.05%
OKE	A	0.25%	0.07%	0.07%
OMC	C	0.07%	0.02%	0.02%
ON	D	0.11%	0.03%	0.03%
ORLY	B	0.02%	0.08%	0.02%
OTIS	C	0.16%	0.04%	0.04%
OXY	D	0.13%	0.04%	0.04%
PARA	C	0.02%	0.01%	0.01%
PAYC	B	0.02%	0.01%	0.01%
PAYX	C	0.11%	0.05%	0.05%
PCAR	B	0.22%	0.07%	0.07%
PCG	A	0.18%	0.05%	0.05%
PEG	A	0.17%	0.05%	0.05%
PEP	F	0.18%	0.24%	0.18%
PFE	D	0.55%	0.16%	0.16%
PFG	D	0.08%	0.02%	0.02%
PG	A	1.21%	0.42%	0.42%
PGR	A	0.09%	0.16%	0.09%
PH	A	0.35%	0.1%	0.1%
PHM	D	0.1%	0.03%	0.03%
PKG	A	0.08%	0.02%	0.02%
PLD	D	0.41%	0.11%	0.11%
PM	B	0.78%	0.21%	0.21%
PNC	B	0.32%	0.09%	0.09%
PNR	A	0.07%	0.02%	0.02%
PNW	B	0.04%	0.01%	0.01%
PPG	F	0.11%	0.03%	0.03%
PPL	B	0.1%	0.03%	0.03%
PRU	A	0.18%	0.05%	0.05%
PSA	D	0.17%	0.06%	0.06%
PSX	C	0.21%	0.06%	0.06%
PTC	A	0.03%	0.02%	0.02%
PWR	A	0.13%	0.05%	0.05%
PYPL	B	0.34%	0.09%	0.09%
QCOM	F	0.04%	0.2%	0.04%
QRVO	F	0.02%	0.01%	0.01%
RCL	A	0.14%	0.06%	0.06%
REG	B	0.05%	0.01%	0.01%
REGN	F	0.28%	0.09%	0.09%
RF	A	0.09%	0.03%	0.03%
RJF	A	0.12%	0.03%	0.03%
RL	B	0.03%	0.01%	0.01%
RMD	C	0.1%	0.04%	0.04%
ROK	B	0.12%	0.04%	0.04%
ROP	B	0.23%	0.07%	0.07%
ROST	C	0.14%	0.05%	0.05%
RSG	A	0.17%	0.05%	0.05%
RTX	C	0.61%	0.17%	0.17%
RVTY	F	0.05%	0.02%	0.02%
SBAC	D	0.09%	0.03%	0.03%
SBUX	A	0.1%	0.12%	0.1%
SCHW	B	0.42%	0.13%	0.13%
SHW	A	0.03%	0.1%	0.03%
SJM	D	0.04%	0.01%	0.01%
SLB	C	0.24%	0.07%	0.07%
SNA	A	0.07%	0.02%	0.02%
SO	D	0.37%	0.1%	0.1%
SOLV	C	0.04%	0.01%	0.01%
SPG	B	0.17%	0.06%	0.06%
SPGI	C	0.61%	0.18%	0.18%
SRE	A	0.23%	0.06%	0.06%
STE	F	0.08%	0.02%	0.02%
STLD	B	0.08%	0.02%	0.02%
STT	A	0.11%	0.03%	0.03%
STZ	D	0.15%	0.04%	0.04%
SW	A	0.1%	0.03%	0.03%
SWK	D	0.05%	0.01%	0.01%
SWKS	F	0.05%	0.01%	0.01%
SYF	B	0.1%	0.03%	0.03%
SYK	C	0.39%	0.14%	0.14%
SYY	B	0.06%	0.04%	0.04%
T	A	0.63%	0.17%	0.17%
TAP	C	0.04%	0.01%	0.01%
TDG	D	0.21%	0.08%	0.08%
TDY	B	0.08%	0.02%	0.02%
TECH	D	0.04%	0.01%	0.01%
TER	D	0.01%	0.02%	0.01%
TFC	A	0.24%	0.07%	0.07%
TFX	F	0.04%	0.01%	0.01%
TGT	F	0.27%	0.08%	0.08%
TJX	A	0.22%	0.15%	0.15%
TMO	F	0.76%	0.22%	0.22%
TMUS	B	0.44%	0.13%	0.13%
TPR	B	0.05%	0.01%	0.01%
TRMB	B	0.07%	0.02%	0.02%
TROW	B	0.1%	0.03%	0.03%
TRV	B	0.23%	0.06%	0.06%
TSN	B	0.07%	0.02%	0.02%
TT	A	0.24%	0.1%	0.1%
TTWO	A	0.12%	0.03%	0.03%
TXN	C	0.63%	0.2%	0.2%
TXT	D	0.06%	0.02%	0.02%
TYL	B	0.01%	0.03%	0.01%
UAL	A	0.12%	0.03%	0.03%
UDR	B	0.06%	0.01%	0.01%
UHS	D	0.05%	0.01%	0.01%
ULTA	F	0.01%	0.02%	0.01%
UNH	C	1.98%	0.59%	0.59%
UNP	C	0.29%	0.15%	0.15%
UPS	C	0.38%	0.1%	0.1%
URI	B	0.17%	0.06%	0.06%
USB	A	0.3%	0.08%	0.08%
VICI	C	0.13%	0.04%	0.04%
VLO	C	0.17%	0.05%	0.05%
VLTO	D	0.05%	0.03%	0.03%
VMC	B	0.11%	0.04%	0.04%
VRSN	F	0.06%	0.02%	0.02%
VRTX	F	0.23%	0.13%	0.13%
VTR	C	0.1%	0.03%	0.03%
VTRS	A	0.06%	0.02%	0.02%
VZ	C	0.68%	0.19%	0.19%
WAB	B	0.13%	0.04%	0.04%
WAT	B	0.03%	0.02%	0.02%
WBA	F	0.02%	0.01%	0.01%
WBD	C	0.09%	0.02%	0.02%
WDC	D	0.08%	0.02%	0.02%
WEC	A	0.12%	0.03%	0.03%
WELL	A	0.32%	0.08%	0.08%
WFC	A	1.01%	0.27%	0.27%
WMB	A	0.27%	0.07%	0.07%
WMT	A	1.42%	0.4%	0.4%
WRB	A	0.07%	0.02%	0.02%
WST	C	0.03%	0.03%	0.03%
WTW	B	0.12%	0.03%	0.03%
WY	D	0.09%	0.02%	0.02%
WYNN	D	0.03%	0.01%	0.01%
XEL	A	0.15%	0.04%	0.04%
XOM	B	2.08%	0.58%	0.58%
XYL	D	0.11%	0.03%	0.03%
YUM	B	0.09%	0.04%	0.04%
ZBH	C	0.09%	0.02%	0.02%
ZBRA	B	0.06%	0.02%	0.02%
ZTS	D	0.05%	0.09%	0.05%

GVUS Overweight 401 Positions Relative to PHDG

Symbol	Grade	Weight
MRVL	B	0.27%
MSTR	C	0.19%
SQ	B	0.11%
FCNCA	A	0.1%
LNG	B	0.09%
ZM	B	0.08%
HOOD	B	0.08%
APO	B	0.08%
ILMN	D	0.08%
OC	A	0.07%
RBA	A	0.07%
TRU	D	0.07%
CSL	C	0.07%
RS	B	0.07%
WSO	A	0.07%
IBKR	A	0.07%
EWBC	A	0.06%
ACM	A	0.06%
THC	D	0.06%
USFD	A	0.06%
MKL	A	0.06%
GGG	B	0.06%
RGA	A	0.06%
SUI	D	0.06%
SSNC	B	0.06%
FNF	B	0.06%
TOL	B	0.06%
UTHR	C	0.06%
CVNA	B	0.06%
Z	A	0.05%
OVV	B	0.05%
SOFI	A	0.05%
BMRN	D	0.05%
SCI	B	0.05%
NVT	B	0.05%
NTNX	A	0.05%
FTI	A	0.05%
WPC	D	0.05%
CLH	B	0.05%
ITT	A	0.05%
CASY	A	0.05%
AMH	D	0.05%
AFRM	B	0.05%
COHR	B	0.05%
GLPI	C	0.05%
ELS	C	0.05%
RPM	A	0.05%
UNM	A	0.05%
TWLO	A	0.05%
RNR	C	0.05%
CW	B	0.05%
EME	C	0.05%
AVTR	F	0.05%
TW	A	0.04%
WCC	B	0.04%
GMED	A	0.04%
QGEN	D	0.04%
CMA	A	0.04%
REXR	F	0.04%
DCI	B	0.04%
BWXT	B	0.04%
FBIN	D	0.04%
RGLD	C	0.04%
INGR	B	0.04%
BRBR	A	0.04%
PNFP	B	0.04%
ORI	A	0.04%
AYI	B	0.04%
CNH	C	0.04%
JEF	A	0.04%
CIEN	B	0.04%
DOX	D	0.04%
WAL	B	0.04%
WTRG	B	0.04%
COIN	C	0.04%
EHC	B	0.04%
DTM	B	0.04%
OHI	C	0.04%
GME	C	0.04%
ARMK	B	0.04%
LAD	A	0.04%
AFG	A	0.04%
RPRX	D	0.04%
BLD	D	0.04%
WWD	B	0.04%
WBS	A	0.04%
DKS	C	0.04%
ALSN	B	0.04%
PRI	A	0.04%
CACI	D	0.04%
CCK	C	0.04%
EVR	B	0.04%
CUBE	D	0.04%
PFGC	B	0.04%
AA	B	0.04%
CG	A	0.04%
ATR	B	0.04%
FHN	A	0.04%
RRX	B	0.04%
SF	B	0.04%
BJ	A	0.04%
COLB	A	0.03%
CGNX	C	0.03%
FAF	A	0.03%
KBR	F	0.03%
LSTR	D	0.03%
BILL	A	0.03%
STAG	F	0.03%
AGNC	D	0.03%
MKSI	C	0.03%
MTG	C	0.03%
HRB	D	0.03%
VMI	B	0.03%
ALK	C	0.03%
AXS	A	0.03%
WEX	D	0.03%
WSM	B	0.03%
RLI	B	0.03%
DAR	C	0.03%
DINO	D	0.03%
FND	C	0.03%
MTSI	B	0.03%
FCN	D	0.03%
ELAN	D	0.03%
GXO	B	0.03%
SSD	D	0.03%
ATI	D	0.03%
FR	C	0.03%
GNTX	C	0.03%
COKE	C	0.03%
ESAB	B	0.03%
WH	B	0.03%
VNO	B	0.03%
VFC	C	0.03%
BBWI	D	0.03%
R	B	0.03%
OSK	B	0.03%
MIDD	C	0.03%
PR	B	0.03%
LBRDK	C	0.03%
PB	A	0.03%
ROKU	D	0.03%
JAZZ	B	0.03%
KEX	C	0.03%
DASH	A	0.03%
SKX	D	0.03%
RHI	B	0.03%
CHE	D	0.03%
ADC	B	0.03%
NNN	D	0.03%
BERY	B	0.03%
G	B	0.03%
CRBG	B	0.03%
FLS	B	0.03%
RIVN	F	0.03%
CHRD	D	0.03%
RRC	B	0.03%
ACI	C	0.03%
X	C	0.03%
APG	B	0.03%
WTFC	A	0.03%
TKO	B	0.03%
SEIC	B	0.03%
SNV	B	0.03%
CFR	B	0.03%
LAMR	D	0.03%
HLI	B	0.03%
LECO	B	0.03%
EGP	F	0.03%
VOYA	B	0.03%
NYT	C	0.03%
TTC	D	0.03%
CR	A	0.03%
MTZ	B	0.03%
ALLY	C	0.03%
CBSH	A	0.03%
JLL	D	0.03%
OGE	B	0.03%
FYBR	D	0.03%
GWRE	A	0.03%
GPK	C	0.03%
ZION	B	0.03%
TTEK	F	0.03%
BRX	A	0.03%
SNX	C	0.03%
KNX	B	0.03%
AAL	B	0.03%
AR	B	0.03%
RBC	A	0.03%
AXTA	A	0.03%
OGN	D	0.02%
NWL	B	0.02%
SITE	D	0.02%
WTM	A	0.02%
HOG	D	0.02%
FLO	D	0.02%
TPG	A	0.02%
DLB	B	0.02%
AN	C	0.02%
M	D	0.02%
GTES	A	0.02%
WLK	D	0.02%
KMPR	B	0.02%
GAP	C	0.02%
AWI	A	0.02%
EEFT	B	0.02%
RYN	D	0.02%
SLGN	A	0.02%
PSN	D	0.02%
WSC	D	0.02%
KRC	C	0.02%
CUZ	B	0.02%
DBX	B	0.02%
ST	F	0.02%
CROX	D	0.02%
ROIV	C	0.02%
AVT	C	0.02%
FRPT	B	0.02%
AGO	B	0.02%
SON	D	0.02%
HXL	D	0.02%
SEE	C	0.02%
OLN	D	0.02%
BYD	C	0.02%
TKR	D	0.02%
AL	B	0.02%
UGI	A	0.02%
BFAM	D	0.02%
OZK	B	0.02%
POST	C	0.02%
BC	C	0.02%
SLM	A	0.02%
LFUS	F	0.02%
SN	D	0.02%
LEA	D	0.02%
WMS	D	0.02%
LITE	B	0.02%
CRUS	D	0.02%
EXAS	D	0.02%
RGEN	D	0.02%
NFG	A	0.02%
OLLI	D	0.02%
DOCS	C	0.02%
THO	B	0.02%
JHG	A	0.02%
H	B	0.02%
ONTO	D	0.02%
IDA	A	0.02%
AGCO	D	0.02%
SAIA	B	0.02%
THG	A	0.02%
PVH	C	0.02%
FNB	A	0.02%
XP	F	0.02%
VNT	B	0.02%
STWD	C	0.02%
WHR	B	0.02%
AMG	B	0.02%
S	B	0.02%
BPOP	B	0.02%
BIO	D	0.02%
ARW	D	0.02%
MTDR	B	0.02%
COLD	D	0.02%
ESI	A	0.02%
LNC	B	0.02%
NOV	C	0.02%
OKTA	C	0.02%
SIRI	C	0.02%
OMF	A	0.02%
KD	B	0.02%
SAIC	F	0.02%
MSA	D	0.02%
MAT	D	0.02%
DDS	B	0.01%
SNDR	B	0.01%
TRIP	F	0.01%
REYN	D	0.01%
FTRE	D	0.01%
QS	F	0.01%
WEN	D	0.01%
LEG	F	0.01%
EXEL	B	0.01%
CNXC	F	0.01%
UA	C	0.01%
LCID	F	0.01%
CLVT	F	0.01%
BIRK	D	0.01%
SHC	F	0.01%
ADTN	A	0.01%
VSTS	C	0.01%
RKT	F	0.01%
CRI	D	0.01%
PPC	C	0.01%
AZEK	A	0.01%
BRKR	D	0.01%
PSTG	D	0.01%
GO	C	0.01%
KSS	F	0.01%
ETSY	D	0.01%
LYFT	C	0.01%
MP	B	0.01%
IPGP	D	0.01%
GLOB	B	0.01%
UAA	C	0.01%
RCM	F	0.01%
AAP	C	0.01%
SAM	C	0.01%
AZTA	D	0.01%
YETI	C	0.01%
PINC	B	0.01%
ALGM	D	0.01%
HHH	B	0.01%
CPRI	F	0.01%
LPX	B	0.01%
CNM	D	0.01%
CWEN	C	0.01%
EXP	A	0.01%
JWN	C	0.01%
HAYW	B	0.01%
ENOV	C	0.01%
BOKF	B	0.01%
MPW	F	0.01%
SPB	C	0.01%
BROS	B	0.01%
CC	C	0.01%
AGR	B	0.01%
CXT	B	0.01%
COTY	F	0.01%
COLM	B	0.01%
VIRT	B	0.01%
AMKR	D	0.01%
U	C	0.01%
AMED	F	0.01%
MAN	D	0.01%
PAG	B	0.01%
WU	D	0.01%
PK	B	0.01%
NXST	C	0.01%
IRDM	D	0.01%
SPR	D	0.01%
PENN	C	0.01%
NSA	D	0.01%
LOPE	B	0.01%
SMG	D	0.01%
VAC	B	0.01%
ZI	D	0.01%
HUN	F	0.01%
MASI	A	0.01%
ZG	A	0.01%
EPR	D	0.01%
ALNY	D	0.01%
BHF	B	0.01%
ACHC	F	0.01%
ASH	D	0.01%
AM	A	0.01%
FHB	A	0.01%
CLF	F	0.01%
UHAL	D	0.01%
IAC	D	0.01%
PII	D	0.01%
HIW	D	0.01%
NVST	B	0.01%
W	F	0.01%
NEU	C	0.01%
OLED	D	0.01%
PRGO	B	0.01%
GFS	C	0.01%
TNL	A	0.01%
MSM	C	0.01%
CIVI	D	0.01%
MDU	D	0.01%
MSGS	A	0.01%
DNB	B	0.01%
DXC	B	0.01%
PLNT	A	0.01%
XRAY	F	0.01%
RH	B	0.01%
SEG	B	0.0%
UWMC	D	0.0%
IONS	F	0.0%
TXG	F	0.0%
CACC	D	0.0%
DJT	C	0.0%
SEB	F	0.0%
PATH	C	0.0%
PYCR	C	0.0%
HCP	B	0.0%
WOLF	F	0.0%
CERT	F	0.0%
LSCC	D	0.0%
TFSL	A	0.0%
FIVE	F	0.0%
MTN	C	0.0%
CAR	C	0.0%
CNA	B	0.0%
INFA	D	0.0%
LBRDA	C	0.0%
CWEN	C	0.0%
DV	C	0.0%
NCNO	B	0.0%

GVUS Underweight 65 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%
AVGO	D	-0.86%
LLY	F	-0.67%
V	A	-0.56%
MA	C	-0.46%
COST	B	-0.44%
NFLX	A	-0.39%
ORCL	B	-0.32%
MRK	F	-0.27%
ADBE	C	-0.25%
NOW	A	-0.23%
ISRG	A	-0.21%
INTU	C	-0.21%
UBER	D	-0.16%
PANW	C	-0.14%
BX	A	-0.14%
PLTR	B	-0.13%
LRCX	F	-0.11%
ANET	C	-0.11%
AMT	D	-0.1%
CRWD	B	-0.09%
WM	A	-0.09%
CMG	B	-0.09%
CDNS	B	-0.09%
SNPS	B	-0.09%
KLAC	D	-0.09%
MCO	B	-0.08%
ADSK	A	-0.07%
NXPI	D	-0.06%
ABNB	C	-0.06%
TRGP	B	-0.05%
ODFL	B	-0.05%
COR	B	-0.05%
AXON	A	-0.05%
VST	B	-0.05%
IDXX	F	-0.04%
LULU	C	-0.04%
VRSK	A	-0.04%
IT	C	-0.04%
CPAY	A	-0.03%
GDDY	A	-0.03%
DECK	A	-0.03%
MPWR	F	-0.03%
TSCO	D	-0.03%
DXCM	D	-0.03%
ROL	B	-0.02%
LVS	C	-0.02%
PODD	C	-0.02%
LYV	A	-0.02%
STX	D	-0.02%
CLX	B	-0.02%
EXPE	B	-0.02%
DVA	B	-0.01%
ENPH	F	-0.01%
SMCI	F	-0.01%
ERIE	D	-0.01%
NCLH	B	-0.01%
POOL	C	-0.01%