KOKU vs. PHDG ETF Comparison

Comparison of Xtrackers MSCI Kokusai Equity ETF (KOKU) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

KOKU

Xtrackers MSCI Kokusai Equity ETF

KOKU Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Kokusai Index. The fund will normally invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of issuers from developed markets (excluding Japan). The index is designed to track the performance of equity markets in developed markets (excluding Japan). It is non-diversified.

Grade (RS Rating)

Last Trade

$95.33

Average Daily Volume

1,507

Number of Holdings ^*

619

* 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

$36.99

Average Daily Volume

14,290

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

Performance

Period	KOKU	PHDG
30 Days	4.42%	-2.46%
60 Days	-1.79%	-2.65%
90 Days	0.70%	1.19%
12 Months	19.30%	16.88%

482 Overlapping Holdings

	Symbol	Grade	Weight in KOKU	Weight in PHDG	Overlap
	A	B	0.06%	0.05%	0.05%
	AAPL	C	5.18%	3.66%	3.66%
	ABBV	B	0.14%	0.4%	0.14%
	ABBV	B	0.53%	0.4%	0.4%
	ABNB	F	0.08%	0.06%	0.06%
	ABT	A	0.3%	0.23%	0.23%
	ACGL	B	0.06%	0.05%	0.05%
	ACN	A	0.33%	0.25%	0.25%
	ADBE	B	0.39%	0.3%	0.3%
	ADI	C	0.18%	0.13%	0.13%
	ADM	D	0.05%	0.03%	0.03%
	ADP	B	0.17%	0.13%	0.13%
	ADSK	B	0.09%	0.06%	0.06%
	AEE	A	0.03%	0.03%	0.03%
	AEP	A	0.08%	0.06%	0.06%
	AES	D	0.02%	0.01%	0.01%
	AFL	B	0.1%	0.07%	0.07%
	AIG	D	0.08%	0.06%	0.06%
	AIZ	B	0.02%	0.01%	0.01%
	AJG	A	0.1%	0.07%	0.07%
	AKAM	D	0.03%	0.02%	0.02%
	ALB	F	0.02%	0.01%	0.01%
	ALGN	F	0.03%	0.02%	0.02%
	ALL	B	0.08%	0.06%	0.06%
	ALLE	B	0.02%	0.01%	0.01%
	AMAT	F	0.24%	0.17%	0.17%
	AMCR	B	0.02%	0.02%	0.02%
	AMD	F	0.36%	0.26%	0.26%
	AME	D	0.06%	0.04%	0.04%
	AMGN	C	0.28%	0.2%	0.2%
	AMP	B	0.07%	0.05%	0.05%
	AMT	A	0.16%	0.12%	0.12%
	AMZN	D	2.48%	1.82%	1.82%
	ANET	D	0.15%	0.09%	0.09%
	ANSS	D	0.04%	0.03%	0.03%
	AON	A	0.1%	0.09%	0.09%
	AOS	D	0.02%	0.01%	0.01%
	APA	F	0.02%	0.01%	0.01%
	APD	B	0.09%	0.07%	0.07%
	APH	D	0.12%	0.08%	0.08%
	APTV	D	0.03%	0.02%	0.02%
	ARE	D	0.03%	0.02%	0.02%
	ATO	A	0.03%	0.02%	0.02%
	AVB	B	0.05%	0.04%	0.04%
	AVGO	D	1.06%	0.77%	0.77%
	AVY	B	0.03%	0.02%	0.02%
	AWK	A	0.04%	0.03%	0.03%
	AXON	B	0.04%	0.03%	0.03%
	AXP	B	0.23%	0.16%	0.16%
	AZO	B	0.09%	0.06%	0.06%
	BA	F	0.15%	0.11%	0.11%
	BAC	D	0.44%	0.32%	0.32%
	BALL	A	0.03%	0.02%	0.02%
	BAX	A	0.03%	0.02%	0.02%
	BBWI	F	0.01%	0.01%	0.01%
	BBY	A	0.03%	0.02%	0.02%
	BDX	D	0.11%	0.08%	0.08%
	BEN	F	0.01%	0.01%	0.01%
	BG	D	0.02%	0.02%	0.02%
	BIIB	D	0.05%	0.03%	0.03%
	BIO	A	0.01%	0.01%	0.01%
	BK	B	0.08%	0.06%	0.06%
	BKNG	C	0.2%	0.15%	0.15%
	BKR	D	0.05%	0.04%	0.04%
	BLDR	C	0.03%	0.02%	0.02%
	BLK	B	0.21%	0.14%	0.14%
	BMY	B	0.16%	0.12%	0.12%
	BR	C	0.04%	0.03%	0.03%
	BRK.A	B	0.94%	1.0%	0.94%
	BRO	A	0.04%	0.03%	0.03%
	BSX	A	0.18%	0.14%	0.14%
	BX	B	0.15%	0.11%	0.11%
	BXP	A	0.02%	0.01%	0.01%
	C	D	0.18%	0.13%	0.13%
	CAG	A	0.02%	0.02%	0.02%
	CAH	A	0.04%	0.03%	0.03%
	CARR	B	0.09%	0.07%	0.07%
	CAT	C	0.27%	0.19%	0.19%
	CB	A	0.17%	0.14%	0.14%
	CBOE	A	0.03%	0.03%	0.03%
	CBRE	B	0.05%	0.04%	0.04%
	CCI	A	0.07%	0.06%	0.06%
	CCL	D	0.03%	0.02%	0.02%
	CDNS	D	0.11%	0.08%	0.08%
	CDW	D	0.04%	0.03%	0.03%
	CE	F	0.02%	0.01%	0.01%
	CEG	D	0.09%	0.06%	0.06%
	CF	B	0.03%	0.02%	0.02%
	CFG	B	0.03%	0.02%	0.02%
	CHD	A	0.04%	0.03%	0.03%
	CHRW	B	0.02%	0.01%	0.01%
	CHTR	C	0.05%	0.04%	0.04%
	CI	B	0.15%	0.12%	0.12%
	CINF	B	0.03%	0.02%	0.02%
	CL	A	0.13%	0.1%	0.1%
	CLX	A	0.03%	0.02%	0.02%
	CMCSA	C	0.24%	0.17%	0.17%
	CME	A	0.12%	0.09%	0.09%
	CMG	D	0.12%	0.08%	0.08%
	CMI	B	0.06%	0.05%	0.05%
	CMS	A	0.03%	0.02%	0.02%
	CNC	D	0.07%	0.04%	0.04%
	CNP	D	0.03%	0.02%	0.02%
	COF	C	0.09%	0.06%	0.06%
	COP	D	0.21%	0.15%	0.15%
	COST	B	0.6%	0.45%	0.45%
	CPAY	B	0.03%	0.03%	0.03%
	CPB	A	0.01%	0.01%	0.01%
	CPRT	D	0.07%	0.05%	0.05%
	CPT	B	0.02%	0.02%	0.02%
	CRL	F	0.02%	0.01%	0.01%
	CRM	D	0.38%	0.28%	0.28%
	CRWD	F	0.09%	0.07%	0.07%
	CSCO	B	0.31%	0.23%	0.23%
	CSGP	C	0.05%	0.04%	0.04%
	CSX	D	0.1%	0.08%	0.08%
	CTAS	B	0.11%	0.08%	0.08%
	CTLT	A	0.02%	0.01%	0.01%
	CTRA	F	0.03%	0.02%	0.02%
	CTSH	B	0.06%	0.04%	0.04%
	CTVA	B	0.06%	0.04%	0.04%
	CVS	F	0.11%	0.09%	0.09%
	CVX	F	0.4%	0.28%	0.28%
	CZR	D	0.01%	0.01%	0.01%
	D	A	0.07%	0.06%	0.06%
	DAL	D	0.01%	0.03%	0.01%
	DAY	C	0.01%	0.01%	0.01%
	DD	C	0.05%	0.04%	0.04%
	DE	B	0.15%	0.12%	0.12%
	DECK	C	0.04%	0.03%	0.03%
	DFS	C	0.05%	0.04%	0.04%
	DG	F	0.03%	0.02%	0.02%
	DGX	B	0.02%	0.02%	0.02%
	DHI	B	0.08%	0.06%	0.06%
	DHR	B	0.29%	0.2%	0.2%
	DIS	F	0.25%	0.19%	0.19%
	DLR	D	0.07%	0.06%	0.06%
	DLTR	F	0.03%	0.02%	0.02%
	DOC	B	0.02%	0.02%	0.02%
	DOV	C	0.04%	0.03%	0.03%
	DOW	D	0.06%	0.04%	0.04%
	DPZ	D	0.02%	0.02%	0.02%
	DRI	A	0.03%	0.02%	0.02%
	DTE	B	0.04%	0.03%	0.03%
	DUK	A	0.13%	0.1%	0.1%
	DVA	B	0.02%	0.01%	0.01%
	DVN	F	0.05%	0.03%	0.03%
	DXCM	F	0.04%	0.03%	0.03%
	EA	C	0.06%	0.04%	0.04%
	EBAY	A	0.05%	0.03%	0.03%
	ECL	B	0.1%	0.07%	0.07%
	ED	A	0.05%	0.04%	0.04%
	EFX	B	0.06%	0.04%	0.04%
	EG	B	0.02%	0.02%	0.02%
	EIX	A	0.05%	0.04%	0.04%
	EL	F	0.03%	0.02%	0.02%
	ELV	B	0.2%	0.15%	0.15%
	EMN	C	0.02%	0.01%	0.01%
	EMR	D	0.09%	0.07%	0.07%
	ENPH	D	0.02%	0.02%	0.02%
	EOG	D	0.11%	0.08%	0.08%
	EPAM	C	0.02%	0.01%	0.01%
	EQIX	B	0.12%	0.09%	0.09%
	EQR	B	0.04%	0.03%	0.03%
	EQT	D	0.03%	0.02%	0.02%
	ES	A	0.04%	0.03%	0.03%
	ESS	B	0.03%	0.02%	0.02%
	ETN	D	0.18%	0.13%	0.13%
	ETR	A	0.04%	0.03%	0.03%
	ETSY	F	0.01%	0.01%	0.01%
	EVRG	A	0.02%	0.02%	0.02%
	EW	F	0.07%	0.05%	0.05%
	EXC	A	0.06%	0.04%	0.04%
	EXPD	D	0.03%	0.02%	0.02%
	EXPE	C	0.03%	0.02%	0.02%
	EXR	B	0.06%	0.04%	0.04%
	F	D	0.07%	0.05%	0.05%
	FANG	D	0.05%	0.04%	0.04%
	FAST	D	0.06%	0.04%	0.04%
	FCX	D	0.1%	0.07%	0.07%
	FDS	C	0.02%	0.02%	0.02%
	FDX	D	0.11%	0.08%	0.08%
	FE	A	0.04%	0.03%	0.03%
	FFIV	B	0.02%	0.01%	0.01%
	FICO	A	0.07%	0.05%	0.05%
	FIS	A	0.08%	0.05%	0.05%
	FITB	B	0.04%	0.03%	0.03%
	FOX	B	0.01%	0.01%	0.01%
	FOXA	B	0.02%	0.01%	0.01%
	FSLR	C	0.03%	0.03%	0.03%
	FTNT	B	0.07%	0.06%	0.06%
	FTV	D	0.04%	0.03%	0.03%
	GD	B	0.1%	0.08%	0.08%
	GDDY	C	0.03%	0.03%	0.03%
	GE	C	0.29%	0.21%	0.21%
	GEHC	B	0.05%	0.04%	0.04%
	GEV	A	0.08%	0.06%	0.06%
	GILD	A	0.15%	0.11%	0.11%
	GIS	A	0.06%	0.05%	0.05%
	GLW	C	0.05%	0.04%	0.04%
	GM	B	0.09%	0.06%	0.06%
	GOOG	D	1.28%	0.89%	0.89%
	GOOGL	D	1.46%	1.06%	1.06%
	GPC	D	0.03%	0.02%	0.02%
	GPN	C	0.04%	0.03%	0.03%
	GRMN	B	0.04%	0.03%	0.03%
	GS	C	0.26%	0.18%	0.18%
	GWW	C	0.07%	0.05%	0.05%
	HAL	F	0.04%	0.03%	0.03%
	HBAN	B	0.03%	0.02%	0.02%
	HCA	B	0.12%	0.09%	0.09%
	HD	B	0.56%	0.42%	0.42%
	HES	F	0.06%	0.04%	0.04%
	HIG	B	0.06%	0.04%	0.04%
	HII	B	0.01%	0.01%	0.01%
	HLT	C	0.09%	0.06%	0.06%
	HOLX	A	0.03%	0.02%	0.02%
	HON	D	0.21%	0.15%	0.15%
	HPE	D	0.04%	0.03%	0.03%
	HPQ	D	0.05%	0.04%	0.04%
	HRL	A	0.02%	0.01%	0.01%
	HSIC	C	0.01%	0.01%	0.01%
	HST	D	0.02%	0.01%	0.01%
	HSY	A	0.04%	0.03%	0.03%
	HUBB	C	0.03%	0.02%	0.02%
	HUM	D	0.07%	0.05%	0.05%
	HWM	B	0.06%	0.04%	0.04%
	IBM	A	0.28%	0.22%	0.22%
	ICE	A	0.14%	0.11%	0.11%
	IDXX	D	0.06%	0.04%	0.04%
	IEX	D	0.03%	0.02%	0.02%
	IFF	A	0.04%	0.03%	0.03%
	INCY	C	0.02%	0.01%	0.01%
	INTC	F	0.13%	0.1%	0.1%
	INTU	D	0.27%	0.2%	0.2%
	INVH	B	0.03%	0.02%	0.02%
	IP	B	0.03%	0.02%	0.02%
	IPG	B	0.02%	0.01%	0.01%
	IQV	B	0.07%	0.05%	0.05%
	IR	D	0.06%	0.04%	0.04%
	IRM	B	0.05%	0.04%	0.04%
	ISRG	B	0.27%	0.2%	0.2%
	IT	B	0.06%	0.04%	0.04%
	ITW	C	0.12%	0.08%	0.08%
	J	C	0.03%	0.02%	0.02%
	JBHT	C	0.02%	0.02%	0.02%
	JBL	F	0.02%	0.01%	0.01%
	JCI	C	0.07%	0.05%	0.05%
	JKHY	B	0.02%	0.01%	0.01%
	JNJ	B	0.61%	0.46%	0.46%
	JNPR	A	0.02%	0.01%	0.01%
	JPM	B	0.98%	0.72%	0.72%
	K	A	0.03%	0.02%	0.02%
	KDP	A	0.06%	0.04%	0.04%
	KEY	B	0.03%	0.02%	0.02%
	KEYS	C	0.04%	0.03%	0.03%
	KHC	A	0.05%	0.03%	0.03%
	KIM	A	0.02%	0.02%	0.02%
	KKR	B	0.12%	0.09%	0.09%
	KLAC	D	0.17%	0.12%	0.12%
	KMB	A	0.07%	0.06%	0.06%
	KMI	B	0.07%	0.05%	0.05%
	KMX	C	0.02%	0.01%	0.01%
	KO	B	0.45%	0.32%	0.32%
	KR	C	0.06%	0.04%	0.04%
	KVUE	A	0.06%	0.05%	0.05%
	L	B	0.02%	0.02%	0.02%
	LDOS	B	0.03%	0.02%	0.02%
	LEN	B	0.07%	0.05%	0.05%
	LHX	C	0.07%	0.05%	0.05%
	LIN	B	0.35%	0.26%	0.26%
	LKQ	D	0.01%	0.01%	0.01%
	LLY	B	1.17%	0.87%	0.87%
	LMT	A	0.19%	0.14%	0.14%
	LNT	A	0.02%	0.02%	0.02%
	LOW	B	0.22%	0.16%	0.16%
	LRCX	F	0.16%	0.11%	0.11%
	LULU	F	0.05%	0.03%	0.03%
	LUV	A	0.01%	0.02%	0.01%
	LVS	D	0.02%	0.02%	0.02%
	LW	D	0.01%	0.01%	0.01%
	LYB	D	0.04%	0.03%	0.03%
	LYV	D	0.03%	0.02%	0.02%
	MA	B	0.62%	0.46%	0.46%
	MAA	B	0.03%	0.02%	0.02%
	MAR	D	0.09%	0.06%	0.06%
	MAS	B	0.03%	0.02%	0.02%
	MCD	A	0.32%	0.24%	0.24%
	MCHP	D	0.07%	0.05%	0.05%
	MCK	D	0.11%	0.09%	0.09%
	MCO	B	0.12%	0.09%	0.09%
	MDLZ	A	0.15%	0.12%	0.12%
	MDT	A	0.18%	0.14%	0.14%
	MET	B	0.07%	0.05%	0.05%
	META	C	1.74%	1.29%	1.29%
	MGM	F	0.02%	0.01%	0.01%
	MKC	A	0.03%	0.02%	0.02%
	MKTX	A	0.01%	0.01%	0.01%
	MLM	D	0.05%	0.04%	0.04%
	MMC	A	0.17%	0.13%	0.13%
	MMM	B	0.11%	0.08%	0.08%
	MNST	D	0.06%	0.04%	0.04%
	MO	A	0.15%	0.11%	0.11%
	MOH	C	0.03%	0.02%	0.02%
	MOS	F	0.01%	0.01%	0.01%
	MPC	D	0.1%	0.07%	0.07%
	MPWR	C	0.08%	0.05%	0.05%
	MRK	D	0.46%	0.34%	0.34%
	MRNA	F	0.04%	0.03%	0.03%
	MRO	C	0.03%	0.02%	0.02%
	MS	C	0.2%	0.14%	0.14%
	MSCI	B	0.07%	0.05%	0.05%
	MSFT	D	4.48%	3.49%	3.49%
	MSI	B	0.11%	0.08%	0.08%
	MTB	B	0.04%	0.03%	0.03%
	MTCH	B	0.02%	0.01%	0.01%
	MTD	C	0.05%	0.03%	0.03%
	MU	F	0.17%	0.11%	0.11%
	NDAQ	A	0.05%	0.03%	0.03%
	NDSN	C	0.02%	0.02%	0.02%
	NEE	A	0.25%	0.19%	0.19%
	NEM	B	0.09%	0.07%	0.07%
	NFLX	B	0.46%	0.34%	0.34%
	NI	A	0.02%	0.02%	0.02%
	NKE	C	0.16%	0.11%	0.11%
	NOC	B	0.12%	0.08%	0.08%
	NOW	B	0.26%	0.2%	0.2%
	NRG	C	0.03%	0.02%	0.02%
	NSC	B	0.09%	0.07%	0.07%
	NTAP	D	0.04%	0.03%	0.03%
	NTRS	B	0.03%	0.02%	0.02%
	NUE	F	0.06%	0.04%	0.04%
	NVDA	D	4.51%	3.0%	3.0%
	NVR	B	0.05%	0.03%	0.03%
	NWSA	C	0.02%	0.01%	0.01%
	NXPI	D	0.1%	0.07%	0.07%
	O	A	0.08%	0.06%	0.06%
	ODFL	D	0.06%	0.04%	0.04%
	OKE	A	0.09%	0.06%	0.06%
	OMC	B	0.03%	0.02%	0.02%
	ON	D	0.05%	0.03%	0.03%
	ORCL	A	0.35%	0.26%	0.26%
	ORLY	B	0.11%	0.08%	0.08%
	OTIS	D	0.06%	0.04%	0.04%
	OXY	F	0.06%	0.04%	0.04%
	PANW	B	0.18%	0.13%	0.13%
	PARA	F	0.01%	0.01%	0.01%
	PAYC	D	0.01%	0.01%	0.01%
	PAYX	B	0.06%	0.05%	0.05%
	PCAR	D	0.08%	0.06%	0.06%
	PCG	A	0.06%	0.05%	0.05%
	PEG	B	0.06%	0.05%	0.05%
	PEP	A	0.37%	0.28%	0.28%
	PFE	D	0.25%	0.18%	0.18%
	PFG	D	0.03%	0.02%	0.02%
	PG	A	0.61%	0.48%	0.48%
	PGR	A	0.22%	0.17%	0.17%
	PH	B	0.12%	0.09%	0.09%
	PHM	B	0.04%	0.03%	0.03%
	PKG	B	0.03%	0.02%	0.02%
	PLD	B	0.18%	0.14%	0.14%
	PM	A	0.29%	0.23%	0.23%
	PNC	B	0.11%	0.08%	0.08%
	PNR	B	0.02%	0.02%	0.02%
	PODD	A	0.02%	0.02%	0.02%
	POOL	C	0.02%	0.02%	0.02%
	PPG	D	0.04%	0.03%	0.03%
	PPL	A	0.04%	0.03%	0.03%
	PRU	C	0.07%	0.05%	0.05%
	PSA	A	0.08%	0.06%	0.06%
	PSX	D	0.09%	0.06%	0.06%
	PTC	D	0.03%	0.02%	0.02%
	PWR	C	0.06%	0.04%	0.04%
	PYPL	B	0.11%	0.09%	0.09%
	QCOM	F	0.29%	0.21%	0.21%
	QRVO	D	0.02%	0.01%	0.01%
	RCL	C	0.06%	0.04%	0.04%
	REG	A	0.02%	0.01%	0.01%
	REGN	B	0.2%	0.14%	0.14%
	RF	B	0.04%	0.02%	0.02%
	RJF	D	0.03%	0.03%	0.03%
	RMD	A	0.05%	0.04%	0.04%
	ROK	D	0.05%	0.03%	0.03%
	ROL	B	0.02%	0.02%	0.02%
	ROP	C	0.09%	0.07%	0.07%
	ROST	B	0.08%	0.06%	0.06%
	RSG	B	0.07%	0.05%	0.05%
	RTX	B	0.25%	0.19%	0.19%
	SBAC	A	0.04%	0.03%	0.03%
	SBUX	B	0.16%	0.12%	0.12%
	SCHW	D	0.15%	0.11%	0.11%
	SHW	B	0.13%	0.1%	0.1%
	SJM	A	0.02%	0.01%	0.01%
	SLB	F	0.1%	0.07%	0.07%
	SMCI	F	0.03%	0.02%	0.02%
	SNA	D	0.02%	0.02%	0.02%
	SNPS	D	0.12%	0.08%	0.08%
	SO	A	0.14%	0.11%	0.11%
	SOLV	B	0.01%	0.01%	0.01%
	SPG	B	0.09%	0.06%	0.06%
	SPGI	A	0.25%	0.19%	0.19%
	SRE	B	0.08%	0.06%	0.06%
	STE	A	0.03%	0.03%	0.03%
	STLD	D	0.03%	0.02%	0.02%
	STT	B	0.04%	0.03%	0.03%
	STX	D	0.03%	0.02%	0.02%
	STZ	B	0.06%	0.05%	0.05%
	SW	D	0.03%	0.03%	0.03%
	SWK	B	0.03%	0.02%	0.02%
	SWKS	D	0.03%	0.02%	0.02%
	SYF	C	0.03%	0.02%	0.02%
	SYK	A	0.19%	0.14%	0.14%
	SYY	A	0.06%	0.05%	0.05%
	T	A	0.21%	0.17%	0.17%
	TAP	C	0.01%	0.01%	0.01%
	TDG	B	0.11%	0.09%	0.09%
	TDY	B	0.03%	0.02%	0.02%
	TECH	D	0.02%	0.01%	0.01%
	TEL	C	0.07%	0.05%	0.05%
	TER	D	0.03%	0.02%	0.02%
	TFC	B	0.09%	0.07%	0.07%
	TFX	A	0.02%	0.01%	0.01%
	TGT	B	0.11%	0.08%	0.08%
	TJX	B	0.21%	0.15%	0.15%
	TMO	A	0.36%	0.27%	0.27%
	TMUS	B	0.17%	0.12%	0.12%
	TRGP	A	0.05%	0.04%	0.04%
	TRMB	D	0.02%	0.02%	0.02%
	TROW	D	0.04%	0.03%	0.03%
	TRV	A	0.08%	0.06%	0.06%
	TSCO	B	0.04%	0.03%	0.03%
	TSLA	D	0.9%	0.7%	0.7%
	TSN	A	0.03%	0.02%	0.02%
	TT	B	0.12%	0.09%	0.09%
	TTWO	B	0.04%	0.03%	0.03%
	TXN	C	0.29%	0.21%	0.21%
	TXT	D	0.03%	0.02%	0.02%
	TYL	A	0.04%	0.03%	0.03%
	UBER	B	0.21%	0.17%	0.17%
	UDR	B	0.02%	0.02%	0.02%
	UHS	B	0.02%	0.02%	0.02%
	ULTA	D	0.03%	0.02%	0.02%
	UNH	A	0.84%	0.64%	0.64%
	UNP	B	0.24%	0.18%	0.18%
	UPS	F	0.14%	0.11%	0.11%
	URI	C	0.08%	0.05%	0.05%
	USB	B	0.11%	0.08%	0.08%
	V	A	0.67%	0.51%	0.51%
	VICI	A	0.06%	0.04%	0.04%
	VLO	D	0.07%	0.05%	0.05%
	VLTO	B	0.04%	0.03%	0.03%
	VMC	D	0.05%	0.04%	0.04%
	VRSK	C	0.06%	0.04%	0.04%
	VRSN	C	0.03%	0.02%	0.02%
	VRTX	D	0.2%	0.14%	0.14%
	VST	C	0.05%	0.03%	0.03%
	VTR	A	0.04%	0.03%	0.03%
	VTRS	C	0.02%	0.02%	0.02%
	VZ	B	0.26%	0.2%	0.2%
	WAB	B	0.04%	0.03%	0.03%
	WAT	B	0.03%	0.02%	0.02%
	WBA	F	0.01%	0.01%	0.01%
	WBD	D	0.03%	0.02%	0.02%
	WDC	D	0.03%	0.02%	0.02%
	WEC	A	0.04%	0.03%	0.03%
	WELL	A	0.1%	0.09%	0.09%
	WFC	D	0.31%	0.23%	0.23%
	WM	D	0.13%	0.09%	0.09%
	WMB	B	0.09%	0.06%	0.06%
	WMT	A	0.52%	0.38%	0.38%
	WRB	B	0.03%	0.02%	0.02%
	WST	D	0.03%	0.03%	0.03%
	WTW	A	0.05%	0.03%	0.03%
	WY	C	0.03%	0.03%	0.03%
	WYNN	D	0.01%	0.01%	0.01%
	XEL	A	0.05%	0.04%	0.04%
	XOM	C	0.81%	0.59%	0.59%
	XYL	D	0.05%	0.04%	0.04%
	YUM	B	0.06%	0.04%	0.04%
	ZBH	D	0.04%	0.03%	0.03%
	ZBRA	C	0.02%	0.02%	0.02%
	ZTS	A	0.13%	0.1%	0.1%

KOKU Overweight 137 Positions Relative to PHDG

	Symbol	Grade	Weight
	NVS	B	0.36%
	UL	A	0.25%
	TD	A	0.16%
	MELI	B	0.14%
	SHOP	C	0.13%
	DEO	C	0.11%
	CNI	D	0.1%
	PLTR	B	0.09%
	MRVL	D	0.09%
	LYG	C	0.08%
	WDAY	C	0.08%
	BCS	B	0.07%
	APO	D	0.07%
	LNG	B	0.07%
	TTD	B	0.07%
	WCN	B	0.07%
	STLA	F	0.06%
	E	D	0.06%
	SNOW	F	0.06%
	GOLD	C	0.06%
	FLUT	A	0.06%
	DASH	B	0.06%
	DDOG	D	0.05%
	ALNY	C	0.05%
	VEEV	A	0.05%
	COIN	F	0.05%
	SQ	D	0.05%
	NET	F	0.04%
	HUBS	F	0.04%
	TEAM	F	0.04%
	SE	B	0.04%
	VRT	F	0.04%
	DELL	F	0.04%
	ARES	C	0.04%
	EQH	C	0.03%
	EME	C	0.03%
	LII	C	0.03%
	ENTG	D	0.03%
	MDB	C	0.03%
	LPLA	D	0.03%
	ZM	B	0.03%
	SSNC	B	0.03%
	FCNCA	C	0.03%
	CHKP	B	0.03%
	RBLX	B	0.03%
	TPL	C	0.03%
	BAH	B	0.03%
	ZS	F	0.03%
	AER	C	0.03%
	TRU	B	0.03%
	CSL	C	0.03%
	PINS	F	0.03%
	MKL	C	0.03%
	TEVA	B	0.03%
	MSTR	F	0.03%
	ILMN	B	0.03%
	QGEN	B	0.02%
	MNDY	C	0.02%
	TWLO	D	0.02%
	HEI	B	0.02%
	OVV	F	0.02%
	EXAS	B	0.02%
	DOCU	A	0.02%
	CCK	A	0.02%
	AMH	A	0.02%
	OKTA	F	0.02%
	NBIX	D	0.02%
	CYBR	C	0.02%
	WTRG	D	0.02%
	TW	B	0.02%
	RPRX	B	0.02%
	GGG	D	0.02%
	ALLY	C	0.02%
	DKS	C	0.02%
	WPC	A	0.02%
	ELS	A	0.02%
	WSO	D	0.02%
	DKNG	D	0.02%
	XRX	D	0.02%
	LOGI	D	0.02%
	FNF	B	0.02%
	RPM	A	0.02%
	DT	A	0.02%
	ERIE	A	0.02%
	RS	D	0.02%
	APP	B	0.02%
	RBA	B	0.02%
	GLPI	A	0.02%
	HEI	B	0.02%
	CCEP	A	0.02%
	AVTR	B	0.02%
	SUI	A	0.02%
	PSTG	F	0.02%
	OC	D	0.02%
	WSM	D	0.02%
	UTHR	B	0.02%
	BURL	B	0.02%
	ACM	B	0.02%
	MANH	B	0.02%
	BMRN	D	0.02%
	CFLT	F	0.01%
	WFG	B	0.01%
	FUTU	F	0.01%
	U	D	0.01%
	PATH	D	0.01%
	WLK	D	0.01%
	H	C	0.01%
	PCTY	C	0.01%
	CELH	F	0.01%
	UHAL	B	0.01%
	LSCC	F	0.01%
	GRAB	D	0.01%
	BSY	D	0.01%
	CLF	F	0.01%
	ACI	D	0.01%
	CHK	F	0.01%
	CRBG	C	0.01%
	RGEN	C	0.01%
	CG	D	0.01%
	IOT	A	0.01%
	KNX	D	0.01%
	DINO	F	0.01%
	Z	B	0.01%
	OTEX	C	0.01%
	SEIC	D	0.01%
	ROKU	C	0.01%
	TOST	D	0.01%
	HOOD	D	0.01%
	RIVN	F	0.01%
	TTC	D	0.01%
	CHRD	F	0.01%
	AFG	A	0.01%
	CNH	C	0.01%
	WIX	C	0.01%
	SNAP	F	0.01%
	DOOO	D	0.0%
	GLBE	D	0.0%

KOKU Underweight 15 Positions Relative to PHDG

	Symbol	Grade	Weight
	UAL	C	-0.02%
	RL	A	-0.01%
	AAL	C	-0.01%
	IVZ	C	-0.01%
	NCLH	D	-0.01%
	BWA	D	-0.01%
	FMC	C	-0.01%
	MHK	B	-0.01%
	FRT	A	-0.01%
	GL	B	-0.01%
	HAS	B	-0.01%
	GNRC	C	-0.01%
	TPR	B	-0.01%
	PNW	A	-0.01%
	NWS	C	-0.0%

KOKU: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Business Services Semiconductors Software - Infrastructure Asset Management Diagnostics & Research Oil & Gas E&P Capital Markets Specialty Retail Biotechnology Aerospace & Defense Banks - Regional - US Drug Manufacturers - Major REIT - Residential Specialty Chemicals Insurance - Property & Casualty Internet Content & Information Packaged Foods

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

PHDG: Top Represented Industries & Keywords

Industries: Diversified Industrials Utilities - Regulated Electric Software - Application Semiconductors Business Services Diagnostics & Research Asset Management Oil & Gas E&P Aerospace & Defense Banks - Regional - US Capital Markets Drug Manufacturers - Major Packaged Foods Specialty Retail Medical Devices Medical Instruments & Supplies 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 Aerospace Real Estate Investment Trust Telecommunications Medicine Bank Semiconductor Banking Insurance Products Petroleum Industry Transport Investment Bank