PBUS vs. VCSH ETF Comparison

Comparison of Invesco PureBeta MSCI USA ETF (PBUS) to Vanguard Short-Term Corporate Bond ETF (VCSH)

PBUS

Invesco PureBeta MSCI USA ETF

PBUS Description

The investment seeks to track the investment results (before fees and expenses) of the MSCI USA Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The index is designed to measure the performance of the large- and mid-capitalization segments of the U.S. equity market.

Grade (RS Rating)

Last Trade

$57.11

Average Daily Volume

66,586

Number of Holdings ^*

580

* may have additional holdings in another (foreign) market

VCSH

Vanguard Short-Term Corporate Bond ETF

VCSH Description

The investment seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years. At least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$79.39

Average Daily Volume

3,218,828

Number of Holdings ^*

444

* may have additional holdings in another (foreign) market

Performance

Period	PBUS	VCSH
30 Days	2.26%	1.27%
60 Days	4.06%	2.83%
90 Days	4.95%	3.72%
12 Months	31.71%	9.62%

325 Overlapping Holdings

	Symbol	Grade	Weight in PBUS	Weight in VCSH	Overlap
	A	C	0.08%	0.02%	0.02%
	AAPL	C	6.7%	0.03%	0.03%
	ABBV	C	0.74%	0.02%	0.02%
	ABT	C	0.43%	0.02%	0.02%
	ADBE	F	0.53%	0.03%	0.03%
	ADI	C	0.23%	0.02%	0.02%
	ADM	D	0.06%	0.05%	0.05%
	ADP	B	0.24%	0.05%	0.05%
	ADSK	C	0.12%	0.01%	0.01%
	AEE	C	0.05%	0.01%	0.01%
	AEP	C	0.11%	0.01%	0.01%
	AES	C	0.02%	0.02%	0.02%
	AFG	B	0.02%	0.02%	0.02%
	AFL	C	0.12%	0.02%	0.02%
	AIG	D	0.1%	0.06%	0.06%
	AIZ	B	0.02%	0.02%	0.02%
	ALB	D	0.02%	0.02%	0.02%
	ALL	B	0.1%	0.01%	0.01%
	ALLE	B	0.03%	0.02%	0.02%
	ALLY	F	0.02%	0.01%	0.01%
	AMAT	D	0.31%	0.03%	0.03%
	AMD	D	0.48%	0.01%	0.01%
	AMGN	B	0.37%	0.01%	0.01%
	AMP	A	0.09%	0.01%	0.01%
	AMT	C	0.24%	0.01%	0.01%
	AMZN	C	3.51%	0.04%	0.04%
	AON	B	0.14%	0.01%	0.01%
	APD	B	0.13%	0.01%	0.01%
	APH	D	0.15%	0.02%	0.02%
	APTV	D	0.04%	0.03%	0.03%
	ARE	C	0.04%	0.01%	0.01%
	ATO	B	0.04%	0.03%	0.03%
	AVB	B	0.07%	0.01%	0.01%
	AVGO	C	1.37%	0.01%	0.01%
	AWK	B	0.06%	0.01%	0.01%
	AXP	B	0.3%	0.03%	0.03%
	AZO	D	0.11%	0.01%	0.01%
	BA	F	0.2%	0.01%	0.01%
	BAC	D	0.58%	0.01%	0.01%
	BAX	C	0.04%	0.03%	0.03%
	BDX	D	0.14%	0.02%	0.02%
	BEN	F	0.01%	0.02%	0.01%
	BG	D	0.03%	0.03%	0.03%
	BIIB	F	0.06%	0.08%	0.06%
	BK	B	0.1%	0.01%	0.01%
	BKNG	C	0.27%	0.02%	0.02%
	BLK	B	0.27%	0.05%	0.05%
	BMY	C	0.21%	0.02%	0.02%
	BR	D	0.05%	0.02%	0.02%
	BRO	C	0.05%	0.02%	0.02%
	BSX	B	0.26%	0.01%	0.01%
	BXP	B	0.02%	0.03%	0.02%
	C	D	0.23%	0.02%	0.02%
	CAG	C	0.03%	0.01%	0.01%
	CAH	C	0.06%	0.02%	0.02%
	CARR	B	0.12%	0.09%	0.09%
	CAT	B	0.34%	0.02%	0.02%
	CB	B	0.23%	0.03%	0.03%
	CCI	C	0.11%	0.02%	0.02%
	CDNS	D	0.15%	0.02%	0.02%
	CE	F	0.03%	0.02%	0.02%
	CF	C	0.03%	0.02%	0.02%
	CFG	C	0.04%	0.01%	0.01%
	CHD	D	0.05%	0.01%	0.01%
	CHTR	D	0.06%	0.07%	0.06%
	CI	C	0.21%	0.01%	0.01%
	CL	D	0.17%	0.01%	0.01%
	CLX	C	0.04%	0.01%	0.01%
	CMCSA	D	0.32%	0.03%	0.03%
	CME	C	0.16%	0.03%	0.03%
	CMI	C	0.08%	0.02%	0.02%
	CMS	C	0.04%	0.01%	0.01%
	CNH	D	0.02%	0.02%	0.02%
	CNP	C	0.04%	0.01%	0.01%
	COF	B	0.11%	0.01%	0.01%
	COP	D	0.25%	0.01%	0.01%
	COST	B	0.83%	0.06%	0.06%
	CPB	C	0.02%	0.02%	0.02%
	CPT	B	0.03%	0.02%	0.02%
	CRM	D	0.5%	0.05%	0.05%
	CSCO	C	0.41%	0.02%	0.02%
	CSL	B	0.04%	0.01%	0.01%
	CSX	D	0.14%	0.02%	0.02%
	CTVA	B	0.08%	0.02%	0.02%
	CVS	D	0.15%	0.02%	0.02%
	CVX	D	0.51%	0.02%	0.02%
	D	C	0.1%	0.01%	0.01%
	DAL	C	0.01%	0.01%	0.01%
	DD	B	0.07%	0.08%	0.07%
	DE	B	0.21%	0.01%	0.01%
	DELL	D	0.06%	0.01%	0.01%
	DFS	C	0.07%	0.01%	0.01%
	DG	F	0.04%	0.01%	0.01%
	DGX	B	0.04%	0.02%	0.02%
	DHI	B	0.12%	0.01%	0.01%
	DHR	B	0.38%	0.02%	0.02%
	DIS	D	0.34%	0.03%	0.03%
	DLR	B	0.11%	0.03%	0.03%
	DLTR	F	0.03%	0.05%	0.03%
	DOC	C	0.03%	0.02%	0.02%
	DOV	B	0.05%	0.02%	0.02%
	DOW	D	0.07%	0.01%	0.01%
	DTE	C	0.05%	0.01%	0.01%
	DUK	C	0.19%	0.01%	0.01%
	DVN	F	0.05%	0.02%	0.02%
	EA	D	0.08%	0.02%	0.02%
	EBAY	B	0.06%	0.03%	0.03%
	ED	C	0.08%	0.01%	0.01%
	EFX	B	0.08%	0.02%	0.02%
	EIX	C	0.07%	0.01%	0.01%
	EL	F	0.04%	0.03%	0.03%
	EMN	B	0.02%	0.03%	0.02%
	EMR	D	0.12%	0.01%	0.01%
	EOG	D	0.14%	0.02%	0.02%
	EQH	C	0.03%	0.02%	0.02%
	EQIX	C	0.17%	0.02%	0.02%
	EQR	B	0.05%	0.02%	0.02%
	ES	C	0.05%	0.01%	0.01%
	ESS	B	0.04%	0.01%	0.01%
	ETN	C	0.24%	0.07%	0.07%
	ETR	B	0.05%	0.01%	0.01%
	EVRG	B	0.03%	0.01%	0.01%
	EXC	C	0.08%	0.01%	0.01%
	EXPE	C	0.04%	0.02%	0.02%
	FANG	D	0.06%	0.02%	0.02%
	FDX	C	0.14%	0.03%	0.03%
	FE	C	0.05%	0.01%	0.01%
	FIS	B	0.1%	0.03%	0.03%
	FITB	B	0.06%	0.03%	0.03%
	FOXA	B	0.02%	0.04%	0.02%
	FTNT	C	0.1%	0.02%	0.02%
	FTV	C	0.05%	0.04%	0.04%
	GD	B	0.15%	0.02%	0.02%
	GE	B	0.38%	0.01%	0.01%
	GILD	B	0.21%	0.04%	0.04%
	GIS	B	0.09%	0.03%	0.03%
	GLPI	C	0.03%	0.03%	0.03%
	GM	C	0.11%	0.02%	0.02%
	GOOGL	D	1.82%	0.04%	0.04%
	GPN	D	0.06%	0.03%	0.03%
	GS	C	0.31%	0.01%	0.01%
	GWW	B	0.09%	0.02%	0.02%
	H	C	0.01%	0.01%	0.01%
	HAL	F	0.05%	0.03%	0.03%
	HBAN	B	0.04%	0.01%	0.01%
	HCA	B	0.16%	0.06%	0.06%
	HD	B	0.77%	0.01%	0.01%
	HES	F	0.07%	0.01%	0.01%
	HII	D	0.02%	0.01%	0.01%
	HON	D	0.27%	0.01%	0.01%
	HPE	D	0.04%	0.03%	0.03%
	HPQ	D	0.07%	0.05%	0.05%
	HRL	C	0.02%	0.03%	0.02%
	HST	C	0.02%	0.02%	0.02%
	HSY	C	0.06%	0.01%	0.01%
	HUBB	B	0.04%	0.01%	0.01%
	HUM	F	0.09%	0.02%	0.02%
	IBM	B	0.39%	0.02%	0.02%
	ICE	C	0.19%	0.02%	0.02%
	IFF	B	0.05%	0.01%	0.01%
	ILMN	C	0.04%	0.02%	0.02%
	INTC	F	0.17%	0.03%	0.03%
	INTU	C	0.37%	0.02%	0.02%
	IP	B	0.03%	0.02%	0.02%
	IPG	C	0.02%	0.01%	0.01%
	ITW	C	0.15%	0.04%	0.04%
	JBHT	D	0.03%	0.03%	0.03%
	JBL	D	0.03%	0.01%	0.01%
	JCI	B	0.1%	0.02%	0.02%
	JNJ	C	0.84%	0.02%	0.02%
	JNPR	B	0.03%	0.03%	0.03%
	JPM	D	1.23%	0.01%	0.01%
	K	B	0.05%	0.02%	0.02%
	KDP	B	0.08%	0.02%	0.02%
	KEY	B	0.03%	0.01%	0.01%
	KEYS	C	0.05%	0.02%	0.02%
	KIM	C	0.03%	0.01%	0.01%
	KLAC	D	0.2%	0.06%	0.06%
	KMB	D	0.1%	0.01%	0.01%
	KMI	B	0.09%	0.02%	0.02%
	KO	C	0.61%	0.06%	0.06%
	KR	C	0.07%	0.02%	0.02%
	L	C	0.03%	0.02%	0.02%
	LDOS	B	0.04%	0.02%	0.02%
	LEN	B	0.09%	0.01%	0.01%
	LHX	C	0.09%	0.02%	0.02%
	LII	B	0.04%	0.01%	0.01%
	LIN	B	0.47%	0.02%	0.02%
	LLY	C	1.52%	0.02%	0.02%
	LMT	C	0.26%	0.05%	0.05%
	LNT	B	0.03%	0.02%	0.02%
	LOW	B	0.29%	0.01%	0.01%
	LRCX	F	0.2%	0.02%	0.02%
	LUV	C	0.01%	0.01%	0.01%
	LVS	D	0.03%	0.02%	0.02%
	LYB	D	0.05%	0.02%	0.02%
	MA	B	0.85%	0.04%	0.04%
	MAA	B	0.04%	0.01%	0.01%
	MAR	C	0.12%	0.01%	0.01%
	MCD	B	0.44%	0.01%	0.01%
	MCHP	F	0.08%	0.01%	0.01%
	MCK	F	0.14%	0.01%	0.01%
	MCO	B	0.17%	0.02%	0.02%
	MDLZ	B	0.21%	0.01%	0.01%
	MDT	C	0.24%	0.08%	0.08%
	MET	B	0.1%	0.02%	0.02%
	MKC	C	0.04%	0.02%	0.02%
	MLM	D	0.07%	0.01%	0.01%
	MMC	C	0.24%	0.01%	0.01%
	MMM	B	0.15%	0.01%	0.01%
	MO	C	0.19%	0.01%	0.01%
	MOS	F	0.02%	0.03%	0.02%
	MPC	F	0.12%	0.03%	0.03%
	MRK	D	0.61%	0.04%	0.04%
	MRVL	C	0.13%	0.02%	0.02%
	MS	D	0.25%	0.03%	0.03%
	MSFT	C	6.11%	0.04%	0.04%
	MSI	B	0.15%	0.03%	0.03%
	MTB	B	0.06%	0.02%	0.02%
	MU	F	0.2%	0.03%	0.03%
	NDAQ	A	0.06%	0.01%	0.01%
	NEE	C	0.35%	0.01%	0.01%
	NEM	B	0.12%	0.01%	0.01%
	NI	B	0.03%	0.05%	0.03%
	NKE	D	0.2%	0.02%	0.02%
	NOC	B	0.15%	0.05%	0.05%
	NSC	C	0.12%	0.01%	0.01%
	NTAP	D	0.05%	0.02%	0.02%
	NTRS	A	0.04%	0.04%	0.04%
	NUE	F	0.07%	0.03%	0.03%
	NVDA	D	5.55%	0.02%	0.02%
	NXPI	F	0.12%	0.02%	0.02%
	O	C	0.11%	0.01%	0.01%
	OC	D	0.03%	0.01%	0.01%
	OKE	B	0.11%	0.02%	0.02%
	OMC	B	0.04%	0.06%	0.04%
	ORCL	C	0.54%	0.05%	0.05%
	ORLY	C	0.14%	0.01%	0.01%
	OTIS	C	0.08%	0.07%	0.07%
	PCAR	D	0.1%	0.01%	0.01%
	PCG	C	0.08%	0.01%	0.01%
	PEG	C	0.08%	0.01%	0.01%
	PEP	C	0.51%	0.02%	0.02%
	PFE	C	0.35%	0.03%	0.03%
	PFG	B	0.04%	0.01%	0.01%
	PG	C	0.88%	0.01%	0.01%
	PH	B	0.16%	0.02%	0.02%
	PHM	B	0.06%	0.03%	0.03%
	PKG	B	0.04%	0.01%	0.01%
	PM	C	0.41%	0.02%	0.02%
	PNC	B	0.15%	0.02%	0.02%
	PPG	D	0.06%	0.01%	0.01%
	PPL	C	0.05%	0.01%	0.01%
	PRU	C	0.09%	0.03%	0.03%
	PSA	B	0.12%	0.02%	0.02%
	PSX	F	0.11%	0.01%	0.01%
	PYPL	B	0.14%	0.03%	0.03%
	QCOM	D	0.38%	0.04%	0.04%
	RF	B	0.04%	0.04%	0.04%
	ROK	D	0.06%	0.01%	0.01%
	ROP	C	0.12%	0.01%	0.01%
	ROST	C	0.11%	0.02%	0.02%
	RPM	B	0.03%	0.01%	0.01%
	RPRX	C	0.02%	0.04%	0.02%
	RS	D	0.03%	0.01%	0.01%
	RSG	D	0.09%	0.01%	0.01%
	RTX	C	0.33%	0.02%	0.02%
	SBUX	C	0.22%	0.02%	0.02%
	SCHW	D	0.2%	0.01%	0.01%
	SHW	B	0.19%	0.02%	0.02%
	SLB	F	0.12%	0.02%	0.02%
	SO	B	0.2%	0.01%	0.01%
	SPG	B	0.11%	0.02%	0.02%
	SPGI	B	0.35%	0.03%	0.03%
	SRE	C	0.11%	0.01%	0.01%
	STLD	F	0.03%	0.02%	0.02%
	STT	B	0.05%	0.03%	0.03%
	STZ	D	0.09%	0.02%	0.02%
	SWK	B	0.03%	0.03%	0.03%
	SWKS	D	0.03%	0.03%	0.03%
	SYF	C	0.04%	0.03%	0.03%
	SYK	C	0.26%	0.01%	0.01%
	SYY	D	0.08%	0.03%	0.03%
	T	C	0.32%	0.01%	0.01%
	TAP	D	0.02%	0.1%	0.02%
	TDY	B	0.04%	0.02%	0.02%
	TEL	D	0.09%	0.01%	0.01%
	TFC	C	0.12%	0.01%	0.01%
	TGT	C	0.14%	0.05%	0.05%
	TJX	B	0.28%	0.04%	0.04%
	TMO	B	0.5%	0.01%	0.01%
	TMUS	C	0.22%	0.04%	0.04%
	TRMB	C	0.03%	0.01%	0.01%
	TSN	C	0.04%	0.01%	0.01%
	TT	B	0.16%	0.02%	0.02%
	TXN	C	0.38%	0.01%	0.01%
	TXT	D	0.03%	0.01%	0.01%
	UDR	C	0.03%	0.01%	0.01%
	UHS	B	0.03%	0.01%	0.01%
	UNH	C	1.15%	0.01%	0.01%
	UNP	C	0.32%	0.01%	0.01%
	UPS	D	0.2%	0.02%	0.02%
	USB	B	0.15%	0.02%	0.02%
	V	C	0.94%	0.13%	0.13%
	VLO	F	0.09%	0.03%	0.03%
	VMC	D	0.06%	0.01%	0.01%
	VRSK	D	0.08%	0.05%	0.05%
	VTR	C	0.05%	0.02%	0.02%
	VTRS	D	0.03%	0.03%	0.03%
	VZ	B	0.38%	0.06%	0.06%
	WAB	A	0.06%	0.03%	0.03%
	WBA	F	0.01%	0.06%	0.01%
	WEC	C	0.06%	0.02%	0.02%
	WELL	C	0.16%	0.01%	0.01%
	WFC	D	0.39%	0.01%	0.01%
	WLK	D	0.01%	0.04%	0.01%
	WM	D	0.17%	0.02%	0.02%
	WMB	B	0.11%	0.03%	0.03%
	WMT	C	0.73%	0.02%	0.02%
	WPC	C	0.03%	0.02%	0.02%
	WY	C	0.05%	0.01%	0.01%
	XEL	B	0.07%	0.01%	0.01%
	XOM	C	1.04%	0.02%	0.02%
	ZBH	F	0.04%	0.02%	0.02%
	ZTS	C	0.18%	0.04%	0.04%

PBUS Overweight 255 Positions Relative to VCSH

	Symbol	Grade	Weight
	META	B	2.31%
	GOOG	D	1.58%
	TSLA	C	1.36%
	BRK.A	C	1.27%
	NFLX	B	0.61%
	ACN	C	0.46%
	NOW	B	0.37%
	ISRG	B	0.36%
	PGR	B	0.3%
	UBER	C	0.27%
	PLD	C	0.26%
	REGN	C	0.26%
	ELV	C	0.26%
	VRTX	D	0.25%
	PANW	D	0.23%
	BX	B	0.21%
	MELI	B	0.19%
	ANET	B	0.18%
	CMG	C	0.16%
	CTAS	B	0.16%
	PLTR	B	0.15%
	SNPS	F	0.15%
	TDG	B	0.15%
	KKR	B	0.15%
	AJG	D	0.14%
	ECL	B	0.13%
	GEV	B	0.12%
	CEG	C	0.12%
	CRWD	D	0.12%
	FCX	D	0.12%
	ABNB	D	0.11%
	HLT	B	0.11%
	WDAY	D	0.11%
	TRV	C	0.11%
	URI	B	0.1%
	WCN	D	0.1%
	LNG	C	0.09%
	MPWR	C	0.09%
	IDXX	C	0.09%
	ACGL	C	0.09%
	APO	C	0.09%
	CPRT	D	0.09%
	IQV	C	0.09%
	PAYX	C	0.09%
	KVUE	C	0.09%
	TTD	B	0.09%
	MSCI	C	0.09%
	FICO	B	0.09%
	HWM	B	0.08%
	CBRE	A	0.08%
	PWR	B	0.08%
	GEHC	C	0.08%
	RMD	C	0.08%
	MNST	D	0.08%
	EXR	B	0.08%
	ODFL	D	0.08%
	YUM	D	0.08%
	CNC	D	0.08%
	CTSH	C	0.08%
	AME	C	0.08%
	DASH	C	0.08%
	RCL	B	0.08%
	IT	B	0.08%
	FLUT	B	0.08%
	FAST	C	0.08%
	EW	F	0.08%
	F	F	0.08%
	XYL	D	0.07%
	ALNY	C	0.07%
	CSGP	D	0.07%
	KHC	C	0.07%
	SNOW	F	0.07%
	IRM	C	0.07%
	BKR	C	0.07%
	GLW	C	0.07%
	OXY	F	0.07%
	VEEV	C	0.07%
	SQ	D	0.07%
	HIG	B	0.07%
	IR	C	0.07%
	VICI	C	0.07%
	VST	C	0.06%
	ANSS	D	0.06%
	VLTO	C	0.06%
	VRT	C	0.06%
	DXCM	F	0.06%
	GRMN	D	0.06%
	LULU	D	0.06%
	NVR	B	0.06%
	CDW	D	0.06%
	TSCO	C	0.06%
	ON	D	0.06%
	WTW	C	0.06%
	COIN	F	0.06%
	DDOG	D	0.06%
	TRGP	B	0.06%
	MTD	D	0.06%
	SMCI	F	0.05%
	INVH	C	0.05%
	WST	D	0.05%
	CBOE	C	0.05%
	SW	B	0.05%
	RJF	C	0.05%
	TROW	D	0.05%
	NET	D	0.05%
	DECK	C	0.05%
	HUBS	D	0.05%
	STE	C	0.05%
	TYL	C	0.05%
	TTWO	C	0.05%
	AXON	B	0.05%
	TEAM	D	0.05%
	SBAC	C	0.05%
	ARES	B	0.05%
	MRNA	F	0.05%
	WSM	D	0.04%
	ZBRA	B	0.04%
	CTRA	F	0.04%
	BURL	B	0.04%
	MAS	B	0.04%
	EME	B	0.04%
	PINS	F	0.04%
	EXPD	C	0.04%
	AVY	C	0.04%
	SUI	B	0.04%
	APP	C	0.04%
	AVTR	B	0.04%
	EQT	D	0.04%
	ULTA	D	0.04%
	J	C	0.04%
	WRB	C	0.04%
	FCNCA	D	0.04%
	DRI	B	0.04%
	TRU	B	0.04%
	GPC	D	0.04%
	HOLX	C	0.04%
	WAT	C	0.04%
	MOH	D	0.04%
	TER	D	0.04%
	BAH	C	0.04%
	BBY	C	0.04%
	PTC	D	0.04%
	MKL	C	0.04%
	STX	C	0.04%
	WDC	D	0.04%
	BALL	C	0.04%
	MSTR	D	0.04%
	BLDR	C	0.04%
	FSLR	C	0.04%
	CPAY	B	0.04%
	GDDY	C	0.04%
	RBLX	B	0.04%
	CINF	C	0.04%
	MDB	D	0.04%
	KMX	D	0.03%
	DKS	D	0.03%
	SJM	C	0.03%
	JKHY	B	0.03%
	ACM	B	0.03%
	AMH	C	0.03%
	ERIE	B	0.03%
	TW	B	0.03%
	ELS	C	0.03%
	REG	C	0.03%
	POOL	C	0.03%
	NDSN	C	0.03%
	GGG	C	0.03%
	ZS	F	0.03%
	ENPH	D	0.03%
	PNR	B	0.03%
	DT	C	0.03%
	PSTG	F	0.03%
	DPZ	F	0.03%
	UTHR	C	0.03%
	AKAM	D	0.03%
	HEI	B	0.03%
	ROL	C	0.03%
	SNA	C	0.03%
	IEX	D	0.03%
	MRO	D	0.03%
	FNF	B	0.03%
	LYV	B	0.03%
	LPLA	D	0.03%
	PODD	B	0.03%
	WSO	C	0.03%
	BMRN	F	0.03%
	AMCR	B	0.03%
	TPL	B	0.03%
	MANH	B	0.03%
	ENTG	F	0.03%
	WBD	D	0.03%
	DKNG	C	0.03%
	SSNC	B	0.03%
	CCL	C	0.03%
	ALGN	D	0.03%
	EG	C	0.03%
	VRSN	D	0.03%
	NRG	C	0.03%
	FDS	C	0.03%
	ZM	C	0.03%
	CRBG	D	0.02%
	SEIC	C	0.02%
	DINO	F	0.02%
	WYNN	D	0.02%
	BSY	D	0.02%
	CHK	D	0.02%
	ROKU	C	0.02%
	KNX	C	0.02%
	CHRD	F	0.02%
	MGM	F	0.02%
	DVA	B	0.02%
	PAYC	D	0.02%
	TTC	D	0.02%
	TOST	C	0.02%
	Z	B	0.02%
	HSIC	C	0.02%
	APA	F	0.02%
	CG	D	0.02%
	LW	D	0.02%
	SNAP	F	0.02%
	DAY	D	0.02%
	AOS	D	0.02%
	MKTX	C	0.02%
	IOT	B	0.02%
	CRL	F	0.02%
	RIVN	F	0.02%
	TWLO	D	0.02%
	MTCH	C	0.02%
	SOLV	C	0.02%
	NWSA	D	0.02%
	QRVO	F	0.02%
	WTRG	D	0.02%
	HOOD	C	0.02%
	INCY	C	0.02%
	OVV	F	0.02%
	LKQ	F	0.02%
	CTLT	B	0.02%
	EXAS	C	0.02%
	CCK	A	0.02%
	HEI	B	0.02%
	DOCU	C	0.02%
	OKTA	F	0.02%
	TECH	C	0.02%
	TFX	C	0.02%
	NBIX	F	0.02%
	CHRW	B	0.02%
	FFIV	B	0.02%
	EPAM	F	0.02%
	CELH	F	0.01%
	FOX	B	0.01%
	BBWI	F	0.01%
	PARA	F	0.01%
	UHAL	A	0.01%
	BIO	C	0.01%
	ACI	F	0.01%

PBUS Underweight 119 Positions Relative to VCSH

	Symbol	Grade	Weight
	STLA	F	-0.07%
	VFC	C	-0.04%
	WB	D	-0.04%
	ARCC	B	-0.04%
	GSK	C	-0.04%
	AZN	D	-0.04%
	AGR	B	-0.03%
	JD	C	-0.03%
	HAS	B	-0.03%
	MHK	C	-0.03%
	DXC	C	-0.03%
	WAL	B	-0.03%
	CNO	B	-0.03%
	SNX	D	-0.03%
	PVH	F	-0.03%
	JEF	B	-0.03%
	EPD	B	-0.03%
	MPLX	B	-0.03%
	BERY	B	-0.03%
	AER	B	-0.03%
	SKT	B	-0.02%
	RL	C	-0.02%
	THG	B	-0.02%
	UNM	B	-0.02%
	VNT	F	-0.02%
	BKU	C	-0.02%
	GBDC	C	-0.02%
	BC	C	-0.02%
	HP	F	-0.02%
	HOG	C	-0.02%
	GXO	D	-0.02%
	KMPR	D	-0.02%
	FRT	C	-0.02%
	NNN	C	-0.02%
	SF	A	-0.02%
	SBRA	C	-0.02%
	TSLX	C	-0.02%
	VNO	C	-0.02%
	BKH	B	-0.02%
	COKE	C	-0.02%
	BWA	D	-0.02%
	BABA	B	-0.02%
	AWH	F	-0.02%
	GSBD	D	-0.02%
	HRB	C	-0.02%
	OCSL	F	-0.02%
	LAZ	B	-0.02%
	ORI	B	-0.02%
	VOYA	B	-0.02%
	OHI	B	-0.02%
	IVZ	B	-0.02%
	BRX	B	-0.02%
	AN	D	-0.02%
	CNA	C	-0.02%
	FLEX	C	-0.02%
	FSK	B	-0.02%
	WRK	C	-0.02%
	ET	B	-0.02%
	AL	D	-0.02%
	CM	B	-0.02%
	RY	B	-0.02%
	TD	B	-0.02%
	NVT	D	-0.01%
	HIW	B	-0.01%
	FNB	C	-0.01%
	CACC	F	-0.01%
	VLY	C	-0.01%
	KSS	F	-0.01%
	G	C	-0.01%
	EPR	B	-0.01%
	NEU	D	-0.01%
	TKR	D	-0.01%
	FAF	B	-0.01%
	LEG	D	-0.01%
	FMC	C	-0.01%
	JHG	B	-0.01%
	NYCB	D	-0.01%
	WHR	D	-0.01%
	RNR	C	-0.01%
	SNV	C	-0.01%
	SLG	C	-0.01%
	BDN	B	-0.01%
	BCSF	B	-0.01%
	TME	F	-0.01%
	RGA	C	-0.01%
	SITC	D	-0.01%
	BHP	D	-0.01%
	FLS	D	-0.01%
	GP	D	-0.01%
	OGS	B	-0.01%
	LNC	D	-0.01%
	PNW	C	-0.01%
	PSEC	C	-0.01%
	SCCO	D	-0.01%
	FHN	D	-0.01%
	CUBE	C	-0.01%
	MAIN	B	-0.01%
	PDM	B	-0.01%
	KRC	C	-0.01%
	NFG	B	-0.01%
	OPI	F	-0.01%
	CP	C	-0.01%
	AVT	C	-0.01%
	AMG	C	-0.01%
	ARW	C	-0.01%
	UAL	C	-0.01%
	WU	F	-0.01%
	LH	C	-0.01%
	R	A	-0.01%
	CMA	B	-0.01%
	BIDU	D	-0.01%
	PAA	C	-0.01%
	BNS	B	-0.01%
	VOD	C	-0.01%
	DB	B	-0.01%
	BMO	C	-0.01%
	HSBC	B	-0.01%
	NWG	C	-0.01%
	MUFG	D	-0.01%

PBUS: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electricity Electronics Dow Jones Component Aerospace Chemical Telecommunications Real Estate Investment Trust Bank Medicine Semiconductor Cloud Computing Banking IBD 50 Insurance Products Mining

VCSH: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Asset Management Banks - Regional - US Banks - Global Credit Services Diversified Industrials Drug Manufacturers - Major Semiconductors REIT - Office REIT - Retail Specialty Chemicals Business Services Utilities - Diversified Aerospace & Defense Capital Markets Diagnostics & Research Insurance - Life Oil & Gas Midstream Household & Personal Products Insurance - Property & Casualty

Keywords: S&P 500 Nasdaq 100 Natural Gas Bank Insurance Banking Electricity Real Estate Investment Trust Dow Jones Component Investment Bank Electronics Cash Management Computing Insurance Products Chemical Financial Products Aerospace Commercial Banking Semiconductor Disability