INRO vs. PHEQ ETF Comparison

Comparison of BlackRock U.S. Industry Rotation ETF (INRO) to Parametric Hedged Equity ETF (PHEQ)

INRO

BlackRock U.S. Industry Rotation ETF

INRO Description

INRO is targeted US equity exposure, actively managed by shifting the selection and weighting of the portfolio towards industries among the broad domestic market. Portfolio allocation is based on five potential sources of return: information regarding the current economic cycle, valuation, quality metrics, analyst expectation data and recent individual industry trends. The strategy aims to capture the potential alpha from the dispersion between industry allocations and the broad market. During temporary defensive periods, the fund may depart from this principal investment strategy to invest 100% of the portfolio in liquid, short-term securities. The fund may engage in active and frequent trading. Derivatives may also be used to seek returns or hedge exposure. Up to one-third of the value of the funds assets may be lending.

Grade (RS Rating)

Last Trade

$28.39

Average Daily Volume

3,548

Number of Holdings ^*

429

* may have additional holdings in another (foreign) market

PHEQ

Parametric Hedged Equity ETF

PHEQ Description

The fund seeks to provide capital appreciation by investing its net assets in equity securities of certain U.S. large capitalization companies that are constituents of the Solactive GBS US 500 at the time of purchase.

Grade (RS Rating)

Last Trade

$29.49

Average Daily Volume

19,326

Number of Holdings ^*

203

* may have additional holdings in another (foreign) market

Performance

Period	INRO	PHEQ
30 Days	5.09%	1.99%
60 Days	6.25%	3.02%
90 Days	7.10%	3.86%
12 Months		16.61%

150 Overlapping Holdings

Symbol	Grade	Weight in INRO	Weight in PHEQ	Overlap
AAPL	C	5.76%	6.85%	5.76%
ABBV	D	0.39%	0.85%	0.39%
ADBE	C	0.32%	0.48%	0.32%
ALNY	D	0.04%	0.13%	0.04%
AMCR	D	0.07%	0.21%	0.07%
AMD	F	0.47%	0.51%	0.47%
AME	A	0.15%	0.28%	0.15%
AMGN	D	0.2%	0.45%	0.2%
AMZN	C	1.47%	4.1%	1.47%
APO	B	0.01%	0.3%	0.01%
ARE	D	0.04%	0.21%	0.04%
ARES	A	0.12%	0.25%	0.12%
AVB	B	0.01%	0.35%	0.01%
AVGO	D	1.54%	1.71%	1.54%
AVTR	F	0.02%	0.06%	0.02%
AXP	A	1.14%	0.57%	0.57%
BA	F	0.04%	0.32%	0.04%
BAC	A	0.81%	0.98%	0.81%
BAH	F	0.04%	0.12%	0.04%
BLDR	D	0.15%	0.08%	0.08%
BMY	B	0.11%	0.48%	0.11%
BRK.A	B	0.06%	1.42%	0.06%
BRO	B	0.04%	0.31%	0.04%
BSY	D	0.01%	0.04%	0.01%
CAT	B	0.35%	0.55%	0.35%
CFG	B	0.06%	0.26%	0.06%
COIN	C	0.2%	0.12%	0.12%
COST	B	0.47%	1.07%	0.47%
CRM	B	0.45%	0.63%	0.45%
CRWD	B	0.12%	0.17%	0.12%
CSL	C	0.14%	0.18%	0.14%
CTAS	B	0.34%	0.42%	0.34%
CVX	A	0.5%	0.84%	0.5%
DAL	C	0.03%	0.39%	0.03%
DDOG	A	0.06%	0.13%	0.06%
DE	A	0.2%	0.44%	0.2%
DELL	C	0.07%	0.14%	0.07%
DOC	D	0.03%	0.29%	0.03%
DOV	A	0.05%	0.33%	0.05%
DVN	F	0.04%	0.17%	0.04%
ENPH	F	0.02%	0.03%	0.02%
EQR	B	0.01%	0.32%	0.01%
ESS	B	0.01%	0.19%	0.01%
ETR	B	0.2%	0.4%	0.2%
EXPD	D	0.0%	0.23%	0.0%
EXR	D	0.04%	0.32%	0.04%
FANG	D	0.06%	0.24%	0.06%
FCNCA	A	0.05%	0.13%	0.05%
FE	C	0.15%	0.24%	0.15%
GLW	B	0.09%	0.25%	0.09%
GOOG	C	2.72%	1.9%	1.9%
GOOGL	C	3.13%	2.28%	2.28%
HAL	C	0.04%	0.16%	0.04%
HBAN	A	0.07%	0.31%	0.07%
HD	A	1.17%	1.15%	1.15%
HEI	B	0.01%	0.22%	0.01%
HEI	B	0.0%	0.14%	0.0%
HEI	B	0.0%	0.22%	0.0%
HEI	B	0.01%	0.14%	0.01%
HIG	B	0.05%	0.33%	0.05%
HUBB	B	0.08%	0.13%	0.08%
HUBS	A	0.05%	0.14%	0.05%
HWM	A	0.02%	0.36%	0.02%
IBM	C	0.06%	0.56%	0.06%
ILMN	D	0.03%	0.05%	0.03%
JBHT	C	0.06%	0.24%	0.06%
JNJ	D	0.37%	1.04%	0.37%
JPM	A	1.74%	1.73%	1.73%
KKR	A	0.31%	0.46%	0.31%
KLAC	D	0.17%	0.34%	0.17%
L	A	0.03%	0.24%	0.03%
LII	A	0.14%	0.25%	0.14%
LIN	D	0.03%	0.67%	0.03%
LLY	F	0.57%	1.39%	0.57%
LMT	D	0.05%	0.58%	0.05%
LNG	B	0.09%	0.22%	0.09%
LNT	A	0.11%	0.33%	0.11%
LOW	D	0.43%	0.57%	0.43%
LPLA	A	0.08%	0.05%	0.05%
LRCX	F	0.19%	0.29%	0.19%
LYB	F	0.0%	0.22%	0.0%
MA	C	0.04%	1.14%	0.04%
MAA	B	0.01%	0.27%	0.01%
MELI	D	0.07%	0.25%	0.07%
META	D	3.68%	2.66%	2.66%
MKL	A	0.04%	0.23%	0.04%
MMM	D	0.76%	0.44%	0.44%
MRK	F	0.24%	0.69%	0.24%
MRNA	F	0.02%	0.01%	0.01%
MRO	B	0.03%	0.24%	0.03%
MRVL	B	0.16%	0.25%	0.16%
MS	A	0.55%	0.39%	0.39%
MSFT	F	4.24%	6.55%	4.24%
MSTR	C	0.1%	0.2%	0.1%
MU	D	0.23%	0.31%	0.23%
NDAQ	A	0.14%	0.24%	0.14%
NDSN	B	0.03%	0.14%	0.03%
NEM	D	0.11%	0.23%	0.11%
NET	B	0.01%	0.07%	0.01%
NOW	A	0.3%	0.61%	0.3%
NVDA	C	7.62%	7.12%	7.12%
ON	D	0.06%	0.14%	0.06%
ORCL	B	0.45%	0.73%	0.45%
OTIS	C	0.08%	0.33%	0.08%
PANW	C	0.18%	0.3%	0.18%
PFG	D	0.04%	0.2%	0.04%
PHM	D	0.18%	0.3%	0.18%
PINS	D	0.05%	0.03%	0.03%
PLTR	B	0.18%	0.36%	0.18%
PPL	B	0.05%	0.34%	0.05%
PRU	A	0.07%	0.37%	0.07%
PYPL	B	0.01%	0.28%	0.01%
QCOM	F	0.39%	0.33%	0.33%
REGN	F	0.11%	0.21%	0.11%
ROST	C	0.14%	0.32%	0.14%
RPRX	D	0.01%	0.04%	0.01%
RSG	A	0.2%	0.34%	0.2%
SCHW	B	0.41%	0.35%	0.35%
SNAP	C	0.03%	0.05%	0.03%
SNOW	C	0.01%	0.06%	0.01%
SSNC	B	0.03%	0.21%	0.03%
STLD	B	0.01%	0.11%	0.01%
SUI	D	0.01%	0.1%	0.01%
SYF	B	0.18%	0.27%	0.18%
TEAM	A	0.06%	0.06%	0.06%
TMO	F	0.24%	0.59%	0.24%
TMUS	B	4.56%	0.51%	0.51%
TRGP	B	0.08%	0.46%	0.08%
TRU	D	0.04%	0.09%	0.04%
TRV	B	0.09%	0.39%	0.09%
TSLA	B	1.32%	1.91%	1.32%
TW	A	0.06%	0.11%	0.06%
TXN	C	0.39%	0.59%	0.39%
UBER	D	0.49%	0.29%	0.29%
ULTA	F	0.05%	0.23%	0.05%
UNH	C	0.01%	1.37%	0.01%
UNP	C	0.54%	0.52%	0.52%
URI	B	0.47%	0.24%	0.24%
V	A	0.04%	1.28%	0.04%
VRT	B	0.16%	0.1%	0.1%
VRTX	F	0.15%	0.36%	0.15%
WDAY	B	0.08%	0.13%	0.08%
WFC	A	0.64%	0.67%	0.64%
WM	A	0.37%	0.44%	0.37%
WMT	A	0.45%	0.96%	0.45%
WRB	A	0.03%	0.21%	0.03%
WSM	B	0.05%	0.02%	0.02%
XOM	B	0.95%	1.4%	0.95%
ZM	B	0.03%	0.18%	0.03%
ZS	C	0.03%	0.08%	0.03%

INRO Overweight 281 Positions Relative to PHEQ

Symbol	Grade	Weight
HON	B	1.6%
BXP	D	1.35%
NEE	D	0.97%
CBRE	B	0.87%
PM	B	0.87%
TT	A	0.65%
GS	A	0.64%
CSGP	D	0.63%
SO	D	0.6%
VMC	B	0.59%
MLM	B	0.57%
SPGI	C	0.55%
DUK	C	0.54%
ETN	A	0.48%
COF	B	0.48%
BX	A	0.45%
CEG	D	0.45%
GWW	B	0.44%
CARR	D	0.42%
MO	A	0.41%
FAST	B	0.4%
JCI	C	0.39%
TJX	A	0.39%
PWR	A	0.37%
C	A	0.34%
ICE	C	0.33%
DHI	D	0.33%
AEP	D	0.32%
GEV	B	0.31%
AMAT	F	0.3%
CME	A	0.3%
ADP	B	0.29%
DFS	B	0.29%
LEN	D	0.28%
MCO	B	0.28%
INTU	C	0.26%
PCG	A	0.26%
EXC	C	0.25%
CSX	B	0.25%
Z	A	0.25%
XEL	A	0.24%
EMR	A	0.24%
COP	C	0.24%
PGR	A	0.23%
GRMN	B	0.22%
INTC	D	0.22%
NSC	B	0.22%
ADI	D	0.22%
WCN	A	0.21%
ORLY	B	0.21%
PNC	B	0.21%
CPRT	A	0.21%
EIX	B	0.21%
NVR	D	0.21%
USB	A	0.2%
VST	B	0.19%
EME	C	0.19%
APH	A	0.19%
AMP	A	0.19%
DHR	F	0.19%
WELL	A	0.18%
TFC	A	0.17%
CB	C	0.17%
PH	A	0.17%
ODFL	B	0.16%
WSO	A	0.16%
MMC	B	0.16%
MSCI	C	0.16%
EOG	A	0.15%
AZO	C	0.15%
ITW	B	0.15%
ES	D	0.14%
PFE	D	0.14%
GILD	C	0.14%
WMB	A	0.13%
RJF	A	0.13%
SW	A	0.13%
FCX	D	0.12%
MAS	D	0.12%
OC	A	0.12%
SNPS	B	0.12%
CDNS	B	0.12%
NXPI	D	0.12%
OKE	A	0.12%
NRG	B	0.12%
EVRG	A	0.11%
PAYX	C	0.11%
VLTO	D	0.11%
BK	A	0.11%
PCAR	B	0.11%
AMT	D	0.11%
AON	A	0.11%
ACM	A	0.11%
APP	B	0.1%
AJG	B	0.1%
CMI	A	0.1%
PKG	A	0.1%
KMI	A	0.1%
PSX	C	0.1%
MPC	D	0.1%
ROK	B	0.1%
EQIX	A	0.1%
NTRS	A	0.1%
GM	B	0.09%
TSCO	D	0.09%
IP	B	0.09%
AIG	B	0.09%
MTB	A	0.09%
AFL	B	0.09%
ROP	B	0.09%
VRSK	A	0.09%
SLB	C	0.09%
ADSK	A	0.09%
MCHP	D	0.08%
BR	A	0.08%
EFX	F	0.08%
ZTS	D	0.08%
MET	A	0.08%
IR	B	0.08%
FDS	B	0.08%
GE	D	0.08%
ALL	A	0.08%
TGT	F	0.08%
FITB	A	0.08%
FICO	B	0.08%
VLO	C	0.08%
ALLE	D	0.08%
FTNT	C	0.08%
BALL	D	0.08%
PSA	D	0.07%
BKR	B	0.07%
WAB	B	0.07%
RF	A	0.07%
HES	B	0.07%
DLR	B	0.07%
AVY	D	0.07%
ACN	C	0.07%
CCI	D	0.06%
XYL	D	0.06%
VTR	C	0.06%
KEYS	A	0.06%
HOOD	B	0.06%
MPWR	F	0.06%
AOS	F	0.06%
OXY	D	0.06%
F	C	0.06%
ROL	B	0.06%
HPQ	B	0.06%
FBIN	D	0.06%
RTX	C	0.06%
IQV	D	0.05%
KR	B	0.05%
WTW	B	0.05%
A	D	0.05%
ANSS	B	0.05%
ATO	A	0.05%
HPE	B	0.05%
LDOS	C	0.05%
CG	A	0.05%
CCK	C	0.05%
FTV	C	0.05%
TROW	B	0.05%
BURL	A	0.05%
TPL	A	0.05%
CDW	F	0.05%
BBY	D	0.05%
KEY	B	0.05%
VICI	C	0.05%
ACGL	D	0.05%
STT	A	0.05%
PNR	A	0.04%
SNA	A	0.04%
PTC	A	0.04%
WDC	D	0.04%
TRMB	B	0.04%
UPS	C	0.04%
TYL	B	0.04%
CINF	A	0.04%
J	F	0.04%
MKTX	D	0.04%
FSLR	F	0.04%
CBOE	B	0.04%
EQT	B	0.04%
SYY	B	0.04%
IRM	D	0.04%
ZBRA	B	0.04%
NTAP	C	0.04%
TDY	B	0.04%
SMCI	F	0.03%
SWK	D	0.03%
MANH	D	0.03%
DT	C	0.03%
EG	C	0.03%
WAT	B	0.03%
PSTG	D	0.03%
PAYC	B	0.03%
SWKS	F	0.03%
DAY	B	0.03%
GD	F	0.03%
CTRA	B	0.03%
SBAC	D	0.03%
WST	C	0.03%
NOC	D	0.03%
BIIB	F	0.03%
TDG	D	0.03%
WY	D	0.03%
GGG	B	0.03%
ENTG	D	0.03%
JBL	B	0.03%
TER	D	0.03%
IEX	B	0.03%
AES	F	0.03%
BEN	C	0.03%
STX	D	0.03%
DKS	C	0.03%
MTD	D	0.03%
KMX	B	0.03%
KNX	B	0.03%
INCY	C	0.02%
IT	C	0.02%
BMRN	D	0.02%
NBIX	C	0.02%
LUV	C	0.02%
TTC	D	0.02%
DINO	D	0.02%
DG	F	0.02%
SEIC	B	0.02%
ERIE	D	0.02%
AXON	A	0.02%
AIZ	A	0.02%
ALLY	C	0.02%
AFG	A	0.02%
RVTY	F	0.02%
UHAL	D	0.02%
IOT	A	0.02%
UTHR	C	0.02%
BBWI	D	0.02%
CNH	C	0.02%
LHX	C	0.02%
MTCH	D	0.02%
OVV	B	0.02%
FDX	B	0.02%
DOCU	A	0.02%
GLPI	C	0.02%
EBAY	D	0.02%
GEN	B	0.02%
CPT	B	0.01%
CTVA	C	0.01%
FIS	C	0.01%
APD	A	0.01%
DOW	F	0.01%
ACI	C	0.01%
SHW	A	0.01%
TXT	D	0.01%
MDB	C	0.01%
RS	B	0.01%
VRSN	F	0.01%
INVH	D	0.01%
EPAM	C	0.01%
VTRS	A	0.01%
TWLO	A	0.01%
BIO	D	0.01%
CTLT	B	0.01%
DD	D	0.01%
APA	D	0.01%
RIVN	F	0.01%
DLTR	F	0.01%
EXAS	D	0.01%
NUE	C	0.01%
CRL	C	0.01%
FI	A	0.01%
QRVO	F	0.01%
TECH	D	0.01%
CHRD	D	0.01%
GDDY	A	0.01%
CTSH	B	0.01%
HII	D	0.0%
ECL	D	0.0%
CHRW	C	0.0%
FNF	B	0.0%
WBA	F	0.0%

INRO Underweight 55 Positions Relative to PHEQ

Symbol	Grade	Weight
PG	A	-1.09%
NFLX	A	-0.8%
CSCO	B	-0.79%
KO	D	-0.77%
PEP	F	-0.72%
T	A	-0.68%
ABT	B	-0.6%
ISRG	A	-0.58%
DIS	B	-0.57%
MDT	D	-0.51%
BKNG	A	-0.39%
K	A	-0.34%
YUM	B	-0.33%
KMB	D	-0.33%
LH	C	-0.31%
CMS	C	-0.31%
DTE	C	-0.31%
DRI	B	-0.3%
AEE	A	-0.3%
COR	B	-0.3%
CNP	B	-0.28%
RMD	C	-0.24%
LULU	C	-0.21%
SPOT	B	-0.19%
TTD	B	-0.18%
PPG	F	-0.18%
WBD	C	-0.18%
CPB	D	-0.18%
CAG	D	-0.17%
IFF	D	-0.16%
AKAM	D	-0.16%
ABNB	C	-0.15%
MOH	F	-0.14%
APTV	D	-0.14%
ZBH	C	-0.14%
MGM	D	-0.13%
DASH	A	-0.13%
SQ	B	-0.12%
RBLX	C	-0.12%
IBKR	A	-0.11%
VEEV	C	-0.1%
DOX	D	-0.09%
SCCO	F	-0.07%
AGR	B	-0.07%
YUMC	C	-0.07%
DKNG	B	-0.07%
ALGN	D	-0.06%
CE	F	-0.05%
OWL	A	-0.05%
OKTA	C	-0.04%
WLK	D	-0.04%
CPNG	D	-0.03%
SIRI	C	-0.03%
RKT	F	-0.03%
WMG	C	-0.02%