IUS vs. PHDG ETF Comparison

Comparison of Invesco Strategic US ETF (IUS) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

IUS

Invesco Strategic US ETF

IUS Description

The investment seeks to track the investment results (before fees and expenses) of the Invesco Strategic US Index (the "underlying index"). The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index. It generally invests in all of the securities comprising its underlying index in proportion to their weightings in the underlying index. The underlying index is designed to measure the performance of equity securities issued by higher quality, large-business-sized companies designated as U.S. companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$48.24

Average Daily Volume

90,763

Number of Holdings ^*

541

* 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

$37.04

Average Daily Volume

11,451

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

Performance

Period	IUS	PHDG
30 Days	1.52%	-1.31%
60 Days	3.02%	2.59%
90 Days	5.49%	4.74%
12 Months	18.18%	12.19%

366 Overlapping Holdings

Symbol	Grade	Weight in IUS	Weight in PHDG	Overlap
A	B	0.06%	0.06%	0.06%
AAL	F	0.02%	0.01%	0.01%
AAPL	C	4.9%	4.43%	4.43%
ABBV	A	0.73%	0.45%	0.45%
ABNB	F	0.14%	0.09%	0.09%
ABT	B	0.37%	0.26%	0.26%
ACGL	D	0.11%	0.05%	0.05%
ACN	C	0.47%	0.29%	0.29%
ADBE	B	0.31%	0.34%	0.31%
ADM	D	0.36%	0.05%	0.05%
ADP	A	0.15%	0.14%	0.14%
ADSK	C	0.06%	0.07%	0.06%
AES	D	0.06%	0.02%	0.02%
AIZ	B	0.05%	0.01%	0.01%
AKAM	C	0.05%	0.02%	0.02%
ALB	F	0.05%	0.02%	0.02%
ALGN	F	0.03%	0.02%	0.02%
ALL	A	0.23%	0.06%	0.06%
AMAT	D	0.25%	0.24%	0.24%
AMCR	A	0.08%	0.02%	0.02%
AMD	F	0.21%	0.32%	0.21%
AME	D	0.06%	0.05%	0.05%
AMGN	B	0.28%	0.25%	0.25%
AMZN	D	1.96%	2.33%	1.96%
ANET	C	0.04%	0.11%	0.04%
ANSS	F	0.03%	0.04%	0.03%
AON	B	0.14%	0.09%	0.09%
AOS	C	0.03%	0.01%	0.01%
APA	C	0.08%	0.02%	0.02%
APD	C	0.13%	0.08%	0.08%
APH	D	0.09%	0.1%	0.09%
APTV	D	0.07%	0.03%	0.03%
AVGO	D	0.72%	0.92%	0.72%
AVY	D	0.04%	0.02%	0.02%
AXP	A	0.47%	0.19%	0.19%
AZO	B	0.14%	0.07%	0.07%
BA	D	0.15%	0.15%	0.15%
BALL	C	0.05%	0.03%	0.03%
BAX	C	0.07%	0.03%	0.03%
BBY	C	0.15%	0.02%	0.02%
BDX	C	0.17%	0.09%	0.09%
BEN	D	0.04%	0.01%	0.01%
BG	C	0.18%	0.02%	0.02%
BIIB	F	0.08%	0.05%	0.05%
BKNG	D	0.32%	0.17%	0.17%
BKR	B	0.15%	0.05%	0.05%
BLDR	C	0.12%	0.03%	0.03%
BMY	B	0.53%	0.13%	0.13%
BR	A	0.04%	0.03%	0.03%
BRK.A	C	2.92%	1.11%	1.11%
BRO	A	0.03%	0.03%	0.03%
BSX	D	0.1%	0.15%	0.1%
BWA	C	0.06%	0.01%	0.01%
BX	B	0.21%	0.14%	0.14%
CAG	A	0.07%	0.02%	0.02%
CAH	B	0.41%	0.03%	0.03%
CARR	B	0.1%	0.08%	0.08%
CAT	C	0.44%	0.24%	0.24%
CB	A	0.43%	0.15%	0.15%
CBOE	B	0.03%	0.03%	0.03%
CBRE	A	0.12%	0.05%	0.05%
CCL	D	0.09%	0.02%	0.02%
CDNS	F	0.04%	0.1%	0.04%
CDW	D	0.07%	0.04%	0.04%
CE	F	0.05%	0.02%	0.02%
CEG	D	0.03%	0.08%	0.03%
CF	D	0.08%	0.02%	0.02%
CHD	D	0.04%	0.03%	0.03%
CHRW	A	0.07%	0.01%	0.01%
CHTR	B	0.29%	0.04%	0.04%
CI	C	0.72%	0.14%	0.14%
CINF	A	0.08%	0.03%	0.03%
CL	A	0.14%	0.11%	0.11%
CLX	D	0.04%	0.02%	0.02%
CMCSA	C	1.07%	0.21%	0.21%
CMG	D	0.05%	0.1%	0.05%
CMI	B	0.13%	0.05%	0.05%
CMS	A	0.06%	0.03%	0.03%
CNC	B	0.39%	0.05%	0.05%
CNP	F	0.1%	0.03%	0.03%
COP	F	0.72%	0.18%	0.18%
COST	D	0.69%	0.51%	0.51%
CPAY	C	0.05%	0.03%	0.03%
CPB	A	0.03%	0.01%	0.01%
CPRT	D	0.03%	0.06%	0.03%
CRM	C	0.43%	0.35%	0.35%
CSCO	C	0.65%	0.27%	0.27%
CSGP	C	0.03%	0.04%	0.03%
CSX	B	0.22%	0.09%	0.09%
CTAS	A	0.06%	0.09%	0.06%
CTRA	F	0.13%	0.03%	0.03%
CTSH	B	0.14%	0.05%	0.05%
CTVA	C	0.14%	0.05%	0.05%
CVS	C	1.12%	0.1%	0.1%
CVX	C	1.75%	0.39%	0.39%
CZR	D	0.05%	0.01%	0.01%
DAL	F	0.04%	0.04%	0.04%
DD	A	0.15%	0.05%	0.05%
DE	F	0.38%	0.14%	0.14%
DECK	D	0.03%	0.03%	0.03%
DG	D	0.12%	0.04%	0.04%
DGX	A	0.07%	0.02%	0.02%
DHI	B	0.19%	0.07%	0.07%
DHR	A	0.27%	0.25%	0.25%
DIS	D	0.47%	0.23%	0.23%
DLTR	F	0.1%	0.03%	0.03%
DOV	C	0.05%	0.04%	0.04%
DOW	F	0.24%	0.05%	0.05%
DRI	D	0.06%	0.02%	0.02%
DTE	A	0.1%	0.03%	0.03%
DVA	D	0.05%	0.01%	0.01%
DVN	F	0.16%	0.04%	0.04%
DXCM	F	0.03%	0.06%	0.03%
EA	B	0.09%	0.05%	0.05%
EBAY	A	0.11%	0.04%	0.04%
ECL	B	0.08%	0.09%	0.08%
ED	A	0.15%	0.05%	0.05%
EFX	A	0.04%	0.05%	0.04%
EG	D	0.1%	0.02%	0.02%
EL	F	0.07%	0.03%	0.03%
ELV	C	0.54%	0.17%	0.17%
EMN	B	0.06%	0.02%	0.02%
EMR	B	0.15%	0.09%	0.09%
EOG	C	0.35%	0.1%	0.1%
EQIX	B	0.09%	0.1%	0.09%
EQT	F	0.08%	0.03%	0.03%
ETN	D	0.14%	0.16%	0.14%
EW	F	0.04%	0.05%	0.04%
EXC	B	0.17%	0.05%	0.05%
EXPD	A	0.09%	0.03%	0.03%
EXPE	D	0.11%	0.02%	0.02%
F	F	0.6%	0.06%	0.06%
FANG	C	0.19%	0.05%	0.05%
FAST	C	0.06%	0.06%	0.06%
FCX	D	0.13%	0.09%	0.09%
FDX	B	0.41%	0.1%	0.1%
FE	A	0.09%	0.03%	0.03%
FFIV	B	0.03%	0.01%	0.01%
FOXA	A	0.13%	0.01%	0.01%
FSLR	D	0.03%	0.03%	0.03%
FTNT	F	0.05%	0.05%	0.05%
FTV	F	0.06%	0.03%	0.03%
GD	C	0.21%	0.09%	0.09%
GDDY	C	0.04%	0.03%	0.03%
GE	B	0.41%	0.25%	0.25%
GEHC	B	0.06%	0.05%	0.05%
GILD	B	0.36%	0.13%	0.13%
GIS	B	0.15%	0.05%	0.05%
GLW	C	0.12%	0.05%	0.05%
GM	D	0.83%	0.07%	0.07%
GOOGL	D	3.73%	1.39%	1.39%
GPC	B	0.07%	0.03%	0.03%
GRMN	B	0.05%	0.04%	0.04%
GWW	C	0.08%	0.06%	0.06%
HAL	F	0.11%	0.04%	0.04%
HAS	B	0.03%	0.01%	0.01%
HCA	A	0.25%	0.1%	0.1%
HD	C	0.84%	0.5%	0.5%
HES	D	0.09%	0.06%	0.06%
HIG	A	0.17%	0.04%	0.04%
HII	C	0.05%	0.02%	0.02%
HLT	C	0.09%	0.08%	0.08%
HOLX	A	0.05%	0.03%	0.03%
HON	D	0.3%	0.19%	0.19%
HPE	D	0.2%	0.04%	0.04%
HPQ	C	0.19%	0.04%	0.04%
HRL	B	0.06%	0.01%	0.01%
HSIC	B	0.05%	0.01%	0.01%
HST	F	0.04%	0.02%	0.02%
HSY	B	0.08%	0.04%	0.04%
HUBB	C	0.03%	0.03%	0.03%
HUM	D	0.36%	0.07%	0.07%
HWM	A	0.04%	0.05%	0.04%
IBM	B	0.51%	0.25%	0.25%
IFF	A	0.09%	0.04%	0.04%
INTC	F	0.58%	0.19%	0.19%
INTU	B	0.19%	0.25%	0.19%
IP	A	0.12%	0.02%	0.02%
IPG	B	0.05%	0.02%	0.02%
IQV	B	0.09%	0.06%	0.06%
IR	C	0.06%	0.06%	0.06%
IRM	A	0.05%	0.04%	0.04%
ISRG	B	0.11%	0.22%	0.11%
IT	A	0.04%	0.05%	0.04%
ITW	C	0.14%	0.09%	0.09%
J	B	0.07%	0.03%	0.03%
JBHT	C	0.05%	0.02%	0.02%
JBL	F	0.1%	0.02%	0.02%
JCI	C	0.14%	0.06%	0.06%
JNJ	B	1.0%	0.54%	0.54%
JNPR	A	0.05%	0.02%	0.02%
K	A	0.06%	0.02%	0.02%
KDP	A	0.12%	0.05%	0.05%
KEYS	F	0.04%	0.03%	0.03%
KHC	B	0.25%	0.04%	0.04%
KLAC	D	0.13%	0.15%	0.13%
KMB	B	0.12%	0.07%	0.07%
KMI	B	0.23%	0.06%	0.06%
KMX	C	0.08%	0.02%	0.02%
KO	A	0.49%	0.36%	0.36%
KR	B	0.36%	0.05%	0.05%
LDOS	C	0.06%	0.03%	0.03%
LEN	B	0.22%	0.06%	0.06%
LHX	B	0.16%	0.07%	0.07%
LIN	B	0.41%	0.3%	0.3%
LKQ	F	0.06%	0.01%	0.01%
LLY	D	0.26%	0.92%	0.26%
LMT	A	0.49%	0.16%	0.16%
LOW	B	0.45%	0.19%	0.19%
LRCX	F	0.18%	0.16%	0.16%
LULU	F	0.04%	0.04%	0.04%
LUV	F	0.03%	0.02%	0.02%
LVS	F	0.05%	0.02%	0.02%
LYB	B	0.16%	0.03%	0.03%
LYV	C	0.03%	0.02%	0.02%
MA	C	0.4%	0.5%	0.4%
MAR	F	0.14%	0.08%	0.08%
MAS	B	0.04%	0.02%	0.02%
MCD	C	0.27%	0.26%	0.26%
MCHP	F	0.1%	0.06%	0.06%
MCK	A	0.64%	0.11%	0.11%
MCO	A	0.07%	0.1%	0.07%
MDLZ	C	0.24%	0.13%	0.13%
MDT	C	0.34%	0.15%	0.15%
META	C	1.89%	1.41%	1.41%
MGM	D	0.09%	0.02%	0.02%
MHK	B	0.05%	0.01%	0.01%
MKC	B	0.05%	0.03%	0.03%
MLM	B	0.05%	0.05%	0.05%
MMC	A	0.18%	0.15%	0.15%
MMM	A	0.23%	0.08%	0.08%
MNST	C	0.04%	0.05%	0.04%
MO	A	0.33%	0.12%	0.12%
MOH	C	0.08%	0.03%	0.03%
MOS	D	0.11%	0.01%	0.01%
MPC	C	0.74%	0.09%	0.09%
MRK	F	0.54%	0.45%	0.45%
MRNA	F	0.07%	0.06%	0.06%
MRO	D	0.15%	0.02%	0.02%
MSCI	B	0.04%	0.06%	0.04%
MSFT	D	2.89%	4.39%	2.89%
MSI	A	0.07%	0.09%	0.07%
MTD	A	0.03%	0.04%	0.03%
MU	D	0.2%	0.17%	0.17%
NCLH	D	0.04%	0.01%	0.01%
NDAQ	B	0.04%	0.04%	0.04%
NEM	A	0.15%	0.07%	0.07%
NFLX	D	0.27%	0.39%	0.27%
NKE	F	0.26%	0.12%	0.12%
NOC	A	0.21%	0.09%	0.09%
NOW	B	0.09%	0.24%	0.09%
NRG	D	0.06%	0.02%	0.02%
NSC	B	0.15%	0.07%	0.07%
NTAP	C	0.07%	0.04%	0.04%
NUE	F	0.24%	0.05%	0.05%
NVDA	D	0.8%	3.9%	0.8%
NVR	A	0.07%	0.04%	0.04%
NWSA	C	0.06%	0.01%	0.01%
ODFL	B	0.06%	0.05%	0.05%
OKE	B	0.14%	0.07%	0.07%
OMC	B	0.07%	0.03%	0.03%
ON	D	0.06%	0.04%	0.04%
ORCL	B	0.27%	0.31%	0.27%
ORLY	A	0.13%	0.09%	0.09%
OTIS	D	0.05%	0.05%	0.05%
OXY	F	0.36%	0.06%	0.06%
PANW	C	0.06%	0.15%	0.06%
PARA	D	0.12%	0.01%	0.01%
PAYX	A	0.06%	0.06%	0.06%
PCAR	F	0.16%	0.07%	0.07%
PEP	B	0.48%	0.33%	0.33%
PFE	B	0.79%	0.24%	0.24%
PG	B	0.78%	0.55%	0.55%
PGR	B	0.27%	0.18%	0.18%
PH	B	0.12%	0.1%	0.1%
PHM	B	0.1%	0.04%	0.04%
PKG	A	0.06%	0.02%	0.02%
PM	A	0.35%	0.25%	0.25%
POOL	B	0.03%	0.02%	0.02%
PPG	F	0.08%	0.04%	0.04%
PPL	A	0.09%	0.03%	0.03%
PSA	B	0.13%	0.07%	0.07%
PSX	C	0.54%	0.09%	0.09%
PWR	D	0.06%	0.05%	0.05%
PYPL	C	0.24%	0.09%	0.09%
QCOM	D	0.35%	0.28%	0.28%
QRVO	C	0.05%	0.02%	0.02%
RCL	C	0.07%	0.05%	0.05%
REGN	A	0.22%	0.16%	0.16%
RL	D	0.04%	0.01%	0.01%
RMD	B	0.03%	0.04%	0.03%
ROK	D	0.06%	0.04%	0.04%
ROP	D	0.08%	0.08%	0.08%
ROST	D	0.11%	0.07%	0.07%
RSG	B	0.07%	0.05%	0.05%
RTX	A	0.67%	0.21%	0.21%
SBAC	B	0.04%	0.03%	0.03%
SBUX	F	0.17%	0.12%	0.12%
SHW	A	0.13%	0.11%	0.11%
SJM	B	0.07%	0.02%	0.02%
SLB	C	0.21%	0.1%	0.1%
SNA	B	0.05%	0.02%	0.02%
SNPS	F	0.07%	0.12%	0.07%
STE	A	0.04%	0.03%	0.03%
STLD	C	0.12%	0.03%	0.03%
STX	C	0.04%	0.03%	0.03%
STZ	F	0.11%	0.06%	0.06%
SW	F	0.08%	0.04%	0.04%
SWK	B	0.08%	0.02%	0.02%
SWKS	C	0.07%	0.03%	0.03%
SYK	D	0.14%	0.16%	0.14%
SYY	B	0.19%	0.05%	0.05%
T	A	1.22%	0.19%	0.19%
TAP	C	0.08%	0.01%	0.01%
TDG	D	0.04%	0.1%	0.04%
TDY	B	0.04%	0.03%	0.03%
TEL	C	0.14%	0.07%	0.07%
TER	D	0.03%	0.03%	0.03%
TGT	C	0.32%	0.1%	0.1%
TJX	A	0.28%	0.18%	0.18%
TMO	A	0.38%	0.32%	0.32%
TMUS	A	0.32%	0.13%	0.13%
TPR	D	0.05%	0.01%	0.01%
TRGP	A	0.1%	0.04%	0.04%
TROW	D	0.08%	0.04%	0.04%
TRV	B	0.25%	0.07%	0.07%
TSCO	D	0.06%	0.04%	0.04%
TSLA	C	0.48%	0.86%	0.48%
TSN	A	0.18%	0.02%	0.02%
TT	B	0.1%	0.1%	0.1%
TTWO	F	0.03%	0.03%	0.03%
TXN	C	0.28%	0.25%	0.25%
TXT	B	0.08%	0.03%	0.03%
UAL	F	0.04%	0.02%	0.02%
UBER	F	0.11%	0.19%	0.11%
UHS	A	0.07%	0.02%	0.02%
ULTA	F	0.06%	0.02%	0.02%
UNH	A	1.57%	0.73%	0.73%
UNP	B	0.28%	0.2%	0.2%
UPS	F	0.44%	0.13%	0.13%
URI	C	0.14%	0.07%	0.07%
V	D	0.65%	0.57%	0.57%
VLO	B	0.55%	0.08%	0.08%
VMC	A	0.06%	0.05%	0.05%
VRSK	C	0.09%	0.06%	0.06%
VRSN	C	0.03%	0.02%	0.02%
VRTX	A	0.13%	0.18%	0.13%
VST	D	0.09%	0.03%	0.03%
VTRS	B	0.14%	0.02%	0.02%
VZ	C	1.15%	0.24%	0.24%
WAB	D	0.06%	0.04%	0.04%
WBA	F	0.18%	0.01%	0.01%
WBD	D	0.24%	0.03%	0.03%
WDC	F	0.04%	0.03%	0.03%
WM	C	0.15%	0.1%	0.1%
WMT	B	1.11%	0.42%	0.42%
WRB	B	0.07%	0.02%	0.02%
WST	F	0.02%	0.03%	0.02%
WTW	A	0.1%	0.04%	0.04%
WY	B	0.07%	0.03%	0.03%
XEL	B	0.15%	0.04%	0.04%
XOM	B	2.52%	0.75%	0.75%
XYL	D	0.04%	0.05%	0.04%
YUM	C	0.03%	0.05%	0.03%
ZBH	C	0.07%	0.03%	0.03%
ZTS	B	0.1%	0.12%	0.1%

IUS Overweight 175 Positions Relative to PHDG

Symbol	Grade	Weight
LNG	A	0.22%
DELL	D	0.2%
ACI	F	0.14%
DINO	D	0.12%
SNX	D	0.12%
X	B	0.11%
RGA	A	0.11%
PFGC	D	0.1%
MKL	C	0.1%
LUMN	B	0.1%
OVV	F	0.1%
SNEX	B	0.1%
TX	F	0.09%
RS	C	0.09%
ARW	C	0.09%
FLEX	D	0.09%
CLF	F	0.08%
THC	B	0.08%
CHK	F	0.08%
SQ	F	0.08%
UNFI	C	0.08%
DXC	C	0.08%
CAR	F	0.08%
USFD	C	0.08%
PBF	F	0.08%
MELI	D	0.08%
WHR	C	0.07%
BERY	B	0.07%
JLL	B	0.07%
DKS	D	0.07%
LEA	C	0.07%
WCN	A	0.07%
R	B	0.07%
MRVL	F	0.07%
CHRD	D	0.06%
AVT	D	0.06%
AN	B	0.06%
M	D	0.06%
OMF	C	0.06%
ZIM	D	0.06%
ORI	A	0.06%
LAD	B	0.06%
TOL	B	0.06%
OC	B	0.06%
CCK	B	0.05%
WSM	C	0.05%
CMC	B	0.05%
TMHC	B	0.05%
HTZ	F	0.05%
CPNG	D	0.05%
OLN	F	0.05%
CSL	C	0.05%
UGI	A	0.05%
KSS	D	0.05%
NXST	B	0.05%
ARMK	B	0.05%
ACM	B	0.05%
MAN	B	0.05%
WCC	F	0.05%
VFC	B	0.05%
KNX	B	0.05%
CASY	B	0.05%
AFG	B	0.05%
GPI	B	0.05%
SSNC	A	0.05%
SWN	F	0.05%
LPLA	F	0.05%
SATS	B	0.05%
RNR	A	0.05%
WDAY	D	0.05%
BJ	C	0.05%
GT	F	0.05%
CIVI	D	0.05%
MUSA	A	0.05%
NSIT	C	0.04%
SKX	D	0.04%
BAH	D	0.04%
KD	C	0.04%
CVI	D	0.04%
RPM	B	0.04%
ALV	D	0.04%
HUN	D	0.04%
CNX	B	0.04%
FTI	B	0.04%
SCI	B	0.04%
WSC	C	0.04%
AMG	B	0.04%
UFPI	B	0.04%
RRX	B	0.04%
EME	D	0.04%
FAF	B	0.04%
GPK	B	0.04%
UTHR	B	0.04%
PENN	D	0.04%
BTU	D	0.04%
AMKR	F	0.04%
PVH	F	0.04%
FLR	C	0.04%
H	C	0.04%
BURL	B	0.04%
THO	C	0.04%
LBRDK	B	0.04%
TWLO	D	0.04%
MUR	F	0.04%
TPG	B	0.04%
ANDE	C	0.04%
DASH	D	0.04%
ZM	F	0.04%
AR	D	0.04%
BECN	B	0.04%
DOX	B	0.04%
ABG	B	0.04%
KBH	B	0.04%
AGCO	F	0.04%
ARCH	F	0.03%
IAC	C	0.03%
ATKR	F	0.03%
XRX	F	0.03%
CNM	C	0.03%
APP	D	0.03%
TW	A	0.03%
SON	D	0.03%
PRGO	C	0.03%
MTN	D	0.03%
RHI	F	0.03%
NWL	B	0.03%
SAIC	C	0.03%
WU	D	0.03%
NFG	A	0.03%
ASO	F	0.03%
FYBR	A	0.03%
ODP	D	0.03%
NOV	B	0.03%
RRC	F	0.03%
PINS	F	0.03%
AA	F	0.03%
AAP	D	0.03%
NU	C	0.03%
GPS	D	0.03%
AMR	F	0.03%
JHG	B	0.03%
GXO	C	0.03%
OGS	B	0.03%
HRB	A	0.03%
HP	C	0.03%
RH	B	0.03%
BCC	C	0.03%
DAR	C	0.03%
OSK	D	0.03%
AVTR	B	0.03%
MTH	B	0.03%
PR	F	0.03%
CACI	A	0.03%
TGNA	C	0.03%
ILMN	B	0.03%
BC	C	0.03%
TNET	D	0.03%
JAZZ	C	0.03%
INGR	A	0.03%
SNOW	F	0.03%
SM	D	0.03%
COHR	C	0.03%
PII	D	0.03%
VVV	B	0.03%
CPRI	D	0.03%
WSO	C	0.03%
ADNT	F	0.03%
DK	D	0.03%
MTDR	D	0.03%
POST	A	0.03%
TDS	B	0.03%
HOG	B	0.03%
ELAN	D	0.02%
SIG	F	0.02%
DAN	D	0.02%

IUS Underweight 130 Positions Relative to PHDG

Symbol	Grade	Weight
GOOG	D	-1.17%
JPM	B	-0.85%
BAC	C	-0.4%
WFC	C	-0.29%
GS	B	-0.23%
SPGI	A	-0.22%
NEE	A	-0.21%
MS	B	-0.18%
C	B	-0.17%
PLD	B	-0.16%
BLK	A	-0.16%
ADI	D	-0.15%
AMT	A	-0.14%
SCHW	F	-0.14%
SO	A	-0.13%
DUK	A	-0.12%
ICE	A	-0.12%
KKR	B	-0.11%
USB	B	-0.1%
PNC	B	-0.1%
CME	F	-0.1%
NXPI	D	-0.09%
WELL	A	-0.09%
COF	B	-0.08%
CRWD	F	-0.08%
TFC	B	-0.08%
AJG	A	-0.08%
MET	B	-0.07%
DLR	B	-0.07%
O	A	-0.07%
SPG	B	-0.07%
SRE	A	-0.07%
BK	A	-0.07%
AFL	A	-0.07%
AEP	A	-0.07%
WMB	B	-0.07%
AIG	C	-0.07%
IDXX	D	-0.06%
FICO	B	-0.06%
GEV	C	-0.06%
D	A	-0.06%
FIS	D	-0.06%
AMP	D	-0.06%
PRU	B	-0.06%
CCI	A	-0.06%
EXR	B	-0.05%
SMCI	D	-0.05%
KVUE	D	-0.05%
DFS	C	-0.05%
PEG	A	-0.05%
MPWR	C	-0.05%
PCG	A	-0.05%
STT	B	-0.04%
GPN	D	-0.04%
WEC	A	-0.04%
AWK	A	-0.04%
FITB	B	-0.04%
AVB	A	-0.04%
MTB	B	-0.04%
EIX	A	-0.04%
VICI	A	-0.04%
NTRS	B	-0.03%
ESS	A	-0.03%
ARE	D	-0.03%
WAT	B	-0.03%
PFG	C	-0.03%
ATO	A	-0.03%
INVH	B	-0.03%
CFG	B	-0.03%
AEE	A	-0.03%
SYF	C	-0.03%
PTC	D	-0.03%
RF	B	-0.03%
VTR	A	-0.03%
HBAN	B	-0.03%
VLTO	A	-0.03%
AXON	C	-0.03%
RJF	F	-0.03%
ES	A	-0.03%
ETR	A	-0.03%
TYL	B	-0.03%
EQR	A	-0.03%
CRL	B	-0.02%
ALLE	B	-0.02%
CPT	A	-0.02%
EPAM	C	-0.02%
JKHY	B	-0.02%
UDR	B	-0.02%
TECH	B	-0.02%
INCY	C	-0.02%
NI	A	-0.02%
EVRG	A	-0.02%
NDSN	C	-0.02%
ROL	C	-0.02%
PODD	B	-0.02%
TRMB	F	-0.02%
KIM	A	-0.02%
LNT	A	-0.02%
PNR	B	-0.02%
L	B	-0.02%
DOC	A	-0.02%
DPZ	D	-0.02%
KEY	C	-0.02%
IEX	D	-0.02%
FDS	F	-0.02%
ENPH	F	-0.02%
MAA	A	-0.02%
ZBRA	B	-0.02%
FOX	A	-0.01%
BIO	B	-0.01%
ETSY	D	-0.01%
FMC	B	-0.01%
BBWI	F	-0.01%
GL	C	-0.01%
LW	F	-0.01%
WYNN	F	-0.01%
IVZ	B	-0.01%
PAYC	C	-0.01%
FRT	A	-0.01%
SOLV	B	-0.01%
DAY	C	-0.01%
MKTX	C	-0.01%
MTCH	B	-0.01%
GNRC	C	-0.01%
PNW	A	-0.01%
BXP	B	-0.01%
TFX	B	-0.01%
REG	A	-0.01%
CTLT	A	-0.01%
NWS	C	-0.0%