PHDG vs. LGH ETF Comparison

Comparison of PowerShares S&P 500 Downside Hedged Portfolio (PHDG) to HCM Defender 500 Index ETF (LGH)

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

LGH

HCM Defender 500 Index ETF

LGH Description

The investment seeks to provide investment results that correspond, before fees and expenses, generally to the performance of the HCM Defender 500 Index (the HCM 500 index). The fund seeks to achieve its investment objective by investing at least 80% of its net assets, including borrowings for investment purposes but exclusive of collateral held from securities lending, in securities included in the HCM 500 index. The HCM 500 index seeks to outperform the Solactive US Large Cap Index using a proprietary methodology.

Grade (RS Rating)

Last Trade

$47.14

Average Daily Volume

22,576

Number of Holdings ^*

457

* may have additional holdings in another (foreign) market

Performance

Period	PHDG	LGH
30 Days	-2.46%	3.15%
60 Days	-2.65%	-7.44%
90 Days	1.19%	-1.61%
12 Months	16.88%	20.62%

418 Overlapping Holdings

	Symbol	Grade	Weight in PHDG	Weight in LGH	Overlap
	A	B	0.05%	0.07%	0.05%
	AAPL	C	3.74%	7.13%	3.74%
	ABBV	B	0.4%	0.54%	0.4%
	ABNB	F	0.06%	0.07%	0.06%
	ABT	A	0.23%	0.3%	0.23%
	ACGL	B	0.05%	0.06%	0.05%
	ACN	A	0.24%	0.35%	0.24%
	ADBE	B	0.29%	0.39%	0.29%
	ADI	C	0.13%	0.17%	0.13%
	ADM	D	0.03%	0.05%	0.03%
	ADP	B	0.13%	0.17%	0.13%
	ADSK	B	0.06%	0.08%	0.06%
	AEE	A	0.03%	0.03%	0.03%
	AEP	A	0.06%	0.08%	0.06%
	AFL	B	0.06%	0.09%	0.06%
	AIG	D	0.06%	0.08%	0.06%
	AJG	A	0.07%	0.1%	0.07%
	AKAM	D	0.02%	0.02%	0.02%
	ALB	F	0.01%	0.02%	0.01%
	ALGN	F	0.02%	0.03%	0.02%
	ALL	B	0.06%	0.08%	0.06%
	AMAT	F	0.18%	0.24%	0.18%
	AMD	F	0.27%	0.37%	0.27%
	AME	D	0.04%	0.06%	0.04%
	AMGN	C	0.2%	0.27%	0.2%
	AMP	B	0.05%	0.07%	0.05%
	AMT	A	0.12%	0.16%	0.12%
	AMZN	D	1.79%	3.45%	1.79%
	ANET	D	0.1%	0.13%	0.1%
	ANSS	D	0.03%	0.04%	0.03%
	AON	A	0.08%	0.1%	0.08%
	APA	F	0.01%	0.01%	0.01%
	APD	B	0.07%	0.08%	0.07%
	APH	D	0.09%	0.12%	0.09%
	ARE	D	0.02%	0.03%	0.02%
	ATO	A	0.02%	0.03%	0.02%
	AVB	B	0.04%	0.05%	0.04%
	AVGO	D	0.79%	1.43%	0.79%
	AVY	B	0.02%	0.03%	0.02%
	AWK	A	0.03%	0.04%	0.03%
	AXON	B	0.03%	0.04%	0.03%
	AXP	B	0.17%	0.23%	0.17%
	AZO	B	0.06%	0.08%	0.06%
	BA	F	0.11%	0.14%	0.11%
	BAC	D	0.31%	0.44%	0.31%
	BALL	A	0.02%	0.03%	0.02%
	BAX	A	0.02%	0.03%	0.02%
	BBY	A	0.02%	0.04%	0.02%
	BDX	D	0.08%	0.12%	0.08%
	BG	D	0.02%	0.02%	0.02%
	BIIB	D	0.03%	0.05%	0.03%
	BK	B	0.06%	0.08%	0.06%
	BKNG	C	0.15%	0.2%	0.15%
	BKR	D	0.04%	0.05%	0.04%
	BLK	B	0.14%	0.19%	0.14%
	BMY	B	0.11%	0.16%	0.11%
	BR	C	0.03%	0.04%	0.03%
	BRK.A	B	0.96%	1.27%	0.96%
	BRO	A	0.03%	0.03%	0.03%
	BSX	A	0.13%	0.18%	0.13%
	BX	B	0.11%	0.15%	0.11%
	C	D	0.13%	0.18%	0.13%
	CAG	A	0.02%	0.03%	0.02%
	CAH	A	0.03%	0.04%	0.03%
	CARR	B	0.07%	0.1%	0.07%
	CAT	C	0.2%	0.27%	0.2%
	CB	A	0.13%	0.17%	0.13%
	CBOE	A	0.03%	0.03%	0.03%
	CBRE	B	0.04%	0.06%	0.04%
	CCI	A	0.06%	0.07%	0.06%
	CDNS	D	0.08%	0.11%	0.08%
	CDW	D	0.03%	0.05%	0.03%
	CEG	D	0.07%	0.1%	0.07%
	CF	B	0.02%	0.02%	0.02%
	CFG	B	0.02%	0.03%	0.02%
	CHD	A	0.03%	0.03%	0.03%
	CHTR	C	0.04%	0.05%	0.04%
	CI	B	0.12%	0.17%	0.12%
	CINF	B	0.02%	0.03%	0.02%
	CL	A	0.1%	0.14%	0.1%
	CLX	A	0.02%	0.03%	0.02%
	CMCSA	C	0.18%	0.25%	0.18%
	CME	A	0.09%	0.11%	0.09%
	CMG	D	0.09%	0.1%	0.09%
	CMI	B	0.05%	0.06%	0.05%
	CMS	A	0.02%	0.03%	0.02%
	CNC	D	0.05%	0.07%	0.05%
	CNP	D	0.02%	0.02%	0.02%
	COF	C	0.06%	0.08%	0.06%
	COP	D	0.15%	0.21%	0.15%
	COST	B	0.45%	0.61%	0.45%
	CPAY	B	0.02%	0.03%	0.02%
	CPRT	D	0.05%	0.07%	0.05%
	CRM	D	0.29%	0.35%	0.29%
	CRWD	F	0.07%	0.09%	0.07%
	CSCO	B	0.23%	0.32%	0.23%
	CSGP	C	0.04%	0.04%	0.04%
	CSX	D	0.08%	0.1%	0.08%
	CTAS	B	0.08%	0.1%	0.08%
	CTRA	F	0.02%	0.03%	0.02%
	CTSH	B	0.04%	0.06%	0.04%
	CTVA	B	0.04%	0.07%	0.04%
	CVS	F	0.08%	0.12%	0.08%
	CVX	F	0.29%	0.39%	0.29%
	D	A	0.05%	0.07%	0.05%
	DAL	D	0.03%	0.04%	0.03%
	DD	C	0.04%	0.05%	0.04%
	DE	B	0.11%	0.15%	0.11%
	DECK	C	0.03%	0.03%	0.03%
	DFS	C	0.04%	0.05%	0.04%
	DG	F	0.03%	0.03%	0.03%
	DGX	B	0.02%	0.03%	0.02%
	DHI	B	0.06%	0.09%	0.06%
	DHR	B	0.2%	0.28%	0.2%
	DIS	F	0.19%	0.24%	0.19%
	DLR	D	0.06%	0.07%	0.06%
	DLTR	F	0.02%	0.03%	0.02%
	DOV	C	0.03%	0.04%	0.03%
	DOW	D	0.04%	0.06%	0.04%
	DPZ	D	0.02%	0.02%	0.02%
	DRI	A	0.02%	0.03%	0.02%
	DTE	B	0.03%	0.04%	0.03%
	DUK	A	0.1%	0.13%	0.1%
	DVN	F	0.03%	0.04%	0.03%
	DXCM	F	0.03%	0.04%	0.03%
	EA	C	0.04%	0.06%	0.04%
	EBAY	A	0.03%	0.04%	0.03%
	ECL	B	0.07%	0.1%	0.07%
	ED	A	0.04%	0.05%	0.04%
	EFX	B	0.04%	0.06%	0.04%
	EIX	A	0.04%	0.05%	0.04%
	EL	F	0.02%	0.03%	0.02%
	ELV	B	0.15%	0.2%	0.15%
	EMR	D	0.07%	0.09%	0.07%
	ENPH	D	0.02%	0.02%	0.02%
	EOG	D	0.08%	0.11%	0.08%
	EPAM	C	0.01%	0.02%	0.01%
	EQIX	B	0.09%	0.11%	0.09%
	EQR	B	0.03%	0.04%	0.03%
	EQT	D	0.02%	0.02%	0.02%
	ES	A	0.03%	0.04%	0.03%
	ESS	B	0.02%	0.03%	0.02%
	ETN	D	0.13%	0.18%	0.13%
	ETR	A	0.03%	0.04%	0.03%
	EVRG	A	0.02%	0.02%	0.02%
	EW	F	0.05%	0.07%	0.05%
	EXC	A	0.04%	0.06%	0.04%
	EXPD	D	0.02%	0.02%	0.02%
	EXPE	C	0.02%	0.03%	0.02%
	EXR	B	0.04%	0.05%	0.04%
	F	D	0.05%	0.07%	0.05%
	FANG	D	0.04%	0.05%	0.04%
	FAST	D	0.04%	0.06%	0.04%
	FCX	D	0.07%	0.1%	0.07%
	FDS	C	0.02%	0.02%	0.02%
	FDX	D	0.08%	0.1%	0.08%
	FE	A	0.03%	0.04%	0.03%
	FICO	A	0.05%	0.06%	0.05%
	FIS	A	0.05%	0.07%	0.05%
	FITB	B	0.03%	0.05%	0.03%
	FSLR	C	0.03%	0.04%	0.03%
	FTNT	B	0.05%	0.08%	0.05%
	FTV	D	0.03%	0.04%	0.03%
	GD	B	0.08%	0.1%	0.08%
	GDDY	C	0.03%	0.04%	0.03%
	GE	C	0.22%	0.28%	0.22%
	GEHC	B	0.04%	0.05%	0.04%
	GEV	A	0.06%	0.08%	0.06%
	GILD	A	0.11%	0.16%	0.11%
	GIS	A	0.05%	0.07%	0.05%
	GLW	C	0.04%	0.05%	0.04%
	GM	B	0.06%	0.11%	0.06%
	GOOG	D	0.92%	1.68%	0.92%
	GOOGL	D	1.1%	1.92%	1.1%
	GPC	D	0.02%	0.03%	0.02%
	GPN	C	0.03%	0.05%	0.03%
	GRMN	B	0.03%	0.05%	0.03%
	GS	C	0.19%	0.26%	0.19%
	GWW	C	0.05%	0.05%	0.05%
	HAL	F	0.03%	0.04%	0.03%
	HBAN	B	0.02%	0.03%	0.02%
	HCA	B	0.09%	0.13%	0.09%
	HD	B	0.42%	0.57%	0.42%
	HES	F	0.04%	0.06%	0.04%
	HIG	B	0.04%	0.06%	0.04%
	HLT	C	0.06%	0.08%	0.06%
	HOLX	A	0.02%	0.03%	0.02%
	HON	D	0.15%	0.21%	0.15%
	HPE	D	0.03%	0.04%	0.03%
	HPQ	D	0.03%	0.05%	0.03%
	HST	D	0.01%	0.02%	0.01%
	HSY	A	0.03%	0.04%	0.03%
	HUBB	C	0.02%	0.03%	0.02%
	HUM	D	0.05%	0.07%	0.05%
	HWM	B	0.04%	0.06%	0.04%
	IBM	A	0.21%	0.28%	0.21%
	ICE	A	0.11%	0.13%	0.11%
	IDXX	D	0.05%	0.06%	0.05%
	IEX	D	0.02%	0.02%	0.02%
	IFF	A	0.03%	0.04%	0.03%
	INTC	F	0.1%	0.14%	0.1%
	INTU	D	0.2%	0.25%	0.2%
	INVH	B	0.02%	0.03%	0.02%
	IP	B	0.02%	0.02%	0.02%
	IQV	B	0.05%	0.07%	0.05%
	IR	D	0.04%	0.05%	0.04%
	IRM	B	0.04%	0.04%	0.04%
	ISRG	B	0.2%	0.27%	0.2%
	IT	B	0.04%	0.05%	0.04%
	ITW	C	0.08%	0.11%	0.08%
	J	C	0.02%	0.03%	0.02%
	JBHT	C	0.02%	0.02%	0.02%
	JBL	F	0.01%	0.02%	0.01%
	JCI	C	0.05%	0.07%	0.05%
	JKHY	B	0.01%	0.02%	0.01%
	JNJ	B	0.45%	0.72%	0.45%
	JPM	B	0.73%	1.3%	0.73%
	K	A	0.02%	0.03%	0.02%
	KDP	A	0.04%	0.05%	0.04%
	KEY	B	0.02%	0.02%	0.02%
	KEYS	C	0.03%	0.04%	0.03%
	KHC	A	0.03%	0.04%	0.03%
	KIM	A	0.02%	0.02%	0.02%
	KKR	B	0.09%	0.12%	0.09%
	KLAC	D	0.12%	0.16%	0.12%
	KMB	A	0.06%	0.07%	0.06%
	KMI	B	0.05%	0.07%	0.05%
	KO	B	0.32%	0.43%	0.32%
	KR	C	0.04%	0.06%	0.04%
	KVUE	A	0.05%	0.06%	0.05%
	LDOS	B	0.02%	0.03%	0.02%
	LEN	B	0.05%	0.07%	0.05%
	LHX	C	0.05%	0.07%	0.05%
	LIN	B	0.26%	0.35%	0.26%
	LKQ	D	0.01%	0.01%	0.01%
	LLY	B	0.87%	1.63%	0.87%
	LMT	A	0.14%	0.22%	0.14%
	LNT	A	0.02%	0.03%	0.02%
	LOW	B	0.16%	0.22%	0.16%
	LRCX	F	0.12%	0.15%	0.12%
	LUV	A	0.02%	0.03%	0.02%
	LVS	D	0.02%	0.02%	0.02%
	LW	D	0.01%	0.01%	0.01%
	LYB	D	0.03%	0.04%	0.03%
	MA	B	0.44%	0.73%	0.44%
	MAA	B	0.02%	0.03%	0.02%
	MAR	D	0.06%	0.09%	0.06%
	MAS	B	0.02%	0.03%	0.02%
	MCD	A	0.24%	0.32%	0.24%
	MCHP	D	0.05%	0.06%	0.05%
	MCK	D	0.08%	0.12%	0.08%
	MCO	B	0.09%	0.11%	0.09%
	MDLZ	A	0.11%	0.15%	0.11%
	MDT	A	0.13%	0.19%	0.13%
	MET	B	0.05%	0.08%	0.05%
	META	C	1.3%	2.35%	1.3%
	MKC	A	0.02%	0.03%	0.02%
	MLM	D	0.04%	0.05%	0.04%
	MMC	A	0.13%	0.16%	0.13%
	MMM	B	0.08%	0.11%	0.08%
	MNST	D	0.04%	0.04%	0.04%
	MO	A	0.1%	0.15%	0.1%
	MOH	C	0.02%	0.03%	0.02%
	MPC	D	0.07%	0.11%	0.07%
	MPWR	C	0.05%	0.07%	0.05%
	MRK	D	0.34%	0.47%	0.34%
	MRNA	F	0.03%	0.04%	0.03%
	MRO	C	0.02%	0.03%	0.02%
	MS	C	0.15%	0.21%	0.15%
	MSCI	B	0.05%	0.07%	0.05%
	MSFT	D	3.5%	6.53%	3.5%
	MSI	B	0.08%	0.11%	0.08%
	MTB	B	0.03%	0.04%	0.03%
	MTD	C	0.04%	0.05%	0.04%
	MU	F	0.12%	0.15%	0.12%
	NDAQ	A	0.03%	0.04%	0.03%
	NEE	A	0.19%	0.26%	0.19%
	NEM	B	0.07%	0.07%	0.07%
	NFLX	B	0.34%	0.45%	0.34%
	NKE	C	0.11%	0.16%	0.11%
	NOC	B	0.08%	0.12%	0.08%
	NOW	B	0.19%	0.25%	0.19%
	NSC	B	0.06%	0.09%	0.06%
	NTAP	D	0.03%	0.04%	0.03%
	NTRS	B	0.02%	0.03%	0.02%
	NUE	F	0.04%	0.06%	0.04%
	NVDA	D	3.54%	6.1%	3.54%
	NVR	B	0.03%	0.04%	0.03%
	O	A	0.06%	0.06%	0.06%
	ODFL	D	0.04%	0.06%	0.04%
	OKE	A	0.06%	0.08%	0.06%
	OMC	B	0.02%	0.03%	0.02%
	ON	D	0.04%	0.05%	0.04%
	ORCL	A	0.25%	0.33%	0.25%
	ORLY	B	0.08%	0.1%	0.08%
	OTIS	D	0.04%	0.06%	0.04%
	OXY	F	0.04%	0.06%	0.04%
	PANW	B	0.13%	0.16%	0.13%
	PAYX	B	0.05%	0.06%	0.05%
	PCAR	D	0.06%	0.07%	0.06%
	PCG	A	0.05%	0.07%	0.05%
	PEG	B	0.05%	0.06%	0.05%
	PEP	A	0.27%	0.36%	0.27%
	PFE	D	0.19%	0.27%	0.19%
	PFG	D	0.02%	0.03%	0.02%
	PG	A	0.46%	0.64%	0.46%
	PGR	A	0.17%	0.22%	0.17%
	PH	B	0.09%	0.12%	0.09%
	PHM	B	0.03%	0.05%	0.03%
	PKG	B	0.02%	0.03%	0.02%
	PLD	B	0.13%	0.18%	0.13%
	PM	A	0.22%	0.3%	0.22%
	PNC	B	0.08%	0.11%	0.08%
	PODD	A	0.02%	0.02%	0.02%
	POOL	C	0.02%	0.02%	0.02%
	PPG	D	0.03%	0.04%	0.03%
	PPL	A	0.03%	0.04%	0.03%
	PRU	C	0.05%	0.07%	0.05%
	PSA	A	0.06%	0.08%	0.06%
	PSX	D	0.07%	0.09%	0.07%
	PTC	D	0.02%	0.03%	0.02%
	PWR	C	0.04%	0.06%	0.04%
	PYPL	B	0.08%	0.12%	0.08%
	QCOM	F	0.22%	0.29%	0.22%
	RCL	C	0.05%	0.05%	0.05%
	REGN	B	0.15%	0.18%	0.15%
	RF	B	0.02%	0.03%	0.02%
	RJF	D	0.03%	0.04%	0.03%
	RMD	A	0.04%	0.05%	0.04%
	ROK	D	0.03%	0.05%	0.03%
	ROP	C	0.07%	0.09%	0.07%
	ROST	B	0.06%	0.07%	0.06%
	RSG	B	0.05%	0.06%	0.05%
	RTX	B	0.18%	0.27%	0.18%
	SBAC	A	0.03%	0.04%	0.03%
	SBUX	B	0.12%	0.16%	0.12%
	SCHW	D	0.11%	0.13%	0.11%
	SHW	B	0.1%	0.13%	0.1%
	SJM	A	0.01%	0.02%	0.01%
	SLB	F	0.07%	0.09%	0.07%
	SMCI	F	0.03%	0.05%	0.03%
	SNPS	D	0.09%	0.11%	0.09%
	SO	A	0.11%	0.14%	0.11%
	SPG	B	0.06%	0.09%	0.06%
	SPGI	A	0.19%	0.24%	0.19%
	SRE	B	0.06%	0.08%	0.06%
	STE	A	0.03%	0.04%	0.03%
	STLD	D	0.02%	0.02%	0.02%
	STT	B	0.03%	0.04%	0.03%
	STX	D	0.02%	0.03%	0.02%
	STZ	B	0.04%	0.06%	0.04%
	SWK	B	0.02%	0.03%	0.02%
	SWKS	D	0.02%	0.03%	0.02%
	SYF	C	0.02%	0.03%	0.02%
	SYK	A	0.14%	0.18%	0.14%
	SYY	A	0.04%	0.06%	0.04%
	T	A	0.16%	0.22%	0.16%
	TDG	B	0.09%	0.09%	0.09%
	TDY	B	0.02%	0.03%	0.02%
	TER	D	0.02%	0.04%	0.02%
	TFC	B	0.07%	0.09%	0.07%
	TGT	B	0.08%	0.11%	0.08%
	TJX	B	0.15%	0.2%	0.15%
	TMO	A	0.27%	0.37%	0.27%
	TMUS	B	0.12%	0.15%	0.12%
	TRGP	A	0.04%	0.05%	0.04%
	TRMB	D	0.02%	0.02%	0.02%
	TROW	D	0.03%	0.03%	0.03%
	TRV	A	0.06%	0.08%	0.06%
	TSCO	B	0.03%	0.04%	0.03%
	TSLA	D	0.65%	1.19%	0.65%
	TSN	A	0.02%	0.03%	0.02%
	TT	B	0.09%	0.12%	0.09%
	TTWO	B	0.03%	0.04%	0.03%
	TXN	C	0.22%	0.3%	0.22%
	TXT	D	0.02%	0.03%	0.02%
	TYL	A	0.03%	0.03%	0.03%
	UAL	C	0.02%	0.02%	0.02%
	UBER	B	0.17%	0.21%	0.17%
	ULTA	D	0.02%	0.03%	0.02%
	UNH	A	0.62%	1.08%	0.62%
	UNP	B	0.18%	0.24%	0.18%
	UPS	F	0.11%	0.15%	0.11%
	URI	C	0.06%	0.07%	0.06%
	USB	B	0.08%	0.1%	0.08%
	V	A	0.49%	0.9%	0.49%
	VICI	A	0.04%	0.05%	0.04%
	VLO	D	0.05%	0.08%	0.05%
	VLTO	B	0.03%	0.04%	0.03%
	VMC	D	0.04%	0.05%	0.04%
	VRSK	C	0.04%	0.06%	0.04%
	VRSN	C	0.02%	0.03%	0.02%
	VRTX	D	0.14%	0.2%	0.14%
	VTR	A	0.03%	0.04%	0.03%
	VTRS	C	0.02%	0.02%	0.02%
	VZ	B	0.2%	0.27%	0.2%
	WAB	B	0.03%	0.04%	0.03%
	WAT	B	0.02%	0.03%	0.02%
	WBA	F	0.01%	0.01%	0.01%
	WBD	D	0.02%	0.03%	0.02%
	WDC	D	0.02%	0.03%	0.02%
	WEC	A	0.03%	0.04%	0.03%
	WELL	A	0.08%	0.09%	0.08%
	WFC	D	0.23%	0.32%	0.23%
	WM	D	0.09%	0.13%	0.09%
	WMB	B	0.06%	0.09%	0.06%
	WMT	A	0.37%	0.49%	0.37%
	WRB	B	0.02%	0.03%	0.02%
	WST	D	0.02%	0.03%	0.02%
	WTW	A	0.03%	0.04%	0.03%
	WY	C	0.03%	0.04%	0.03%
	XEL	A	0.04%	0.05%	0.04%
	XOM	C	0.6%	1.05%	0.6%
	XYL	D	0.04%	0.05%	0.04%
	YUM	B	0.04%	0.06%	0.04%
	ZBH	D	0.03%	0.03%	0.03%
	ZBRA	C	0.02%	0.02%	0.02%
	ZTS	A	0.1%	0.13%	0.1%

PHDG Overweight 78 Positions Relative to LGH

	Symbol	Grade	Weight
	NXPI	D	0.07%
	TEL	C	0.05%
	SW	D	0.03%
	VST	C	0.03%
	LULU	F	0.03%
	CPT	B	0.02%
	KMX	C	0.02%
	UDR	B	0.02%
	LYV	D	0.02%
	NDSN	C	0.02%
	UHS	B	0.02%
	ROL	B	0.02%
	PNR	B	0.02%
	NI	A	0.02%
	SNA	D	0.02%
	L	B	0.02%
	DOC	B	0.02%
	AMCR	B	0.02%
	NRG	C	0.02%
	CCL	D	0.02%
	EG	B	0.02%
	APTV	D	0.02%
	BLDR	C	0.02%
	FOX	B	0.01%
	PARA	F	0.01%
	BEN	F	0.01%
	ETSY	F	0.01%
	RL	A	0.01%
	AAL	C	0.01%
	BIO	A	0.01%
	WYNN	D	0.01%
	BBWI	F	0.01%
	IVZ	C	0.01%
	BWA	D	0.01%
	NCLH	D	0.01%
	PAYC	D	0.01%
	DVA	B	0.01%
	CZR	D	0.01%
	FMC	C	0.01%
	MHK	B	0.01%
	SOLV	B	0.01%
	FRT	A	0.01%
	GL	B	0.01%
	HAS	B	0.01%
	DAY	C	0.01%
	HSIC	C	0.01%
	MKTX	A	0.01%
	MOS	F	0.01%
	MGM	F	0.01%
	GNRC	C	0.01%
	TPR	B	0.01%
	HRL	A	0.01%
	FOXA	B	0.01%
	TAP	C	0.01%
	MTCH	B	0.01%
	PNW	A	0.01%
	CPB	A	0.01%
	AOS	D	0.01%
	AIZ	B	0.01%
	CRL	F	0.01%
	INCY	C	0.01%
	NWSA	C	0.01%
	BXP	A	0.01%
	QRVO	D	0.01%
	CTLT	A	0.01%
	HII	B	0.01%
	TECH	D	0.01%
	TFX	A	0.01%
	FFIV	B	0.01%
	EMN	C	0.01%
	REG	A	0.01%
	ALLE	B	0.01%
	CHRW	B	0.01%
	IPG	B	0.01%
	AES	D	0.01%
	JNPR	A	0.01%
	CE	F	0.01%
	NWS	C	0.0%

PHDG Underweight 39 Positions Relative to LGH

	Symbol	Grade	Weight
	SPXL	C	-17.11%
	PLTR	B	-0.09%
	TTD	B	-0.09%
	MRVL	D	-0.09%
	WDAY	C	-0.08%
	APO	D	-0.07%
	DASH	B	-0.06%
	SQ	D	-0.06%
	VEEV	A	-0.06%
	COIN	F	-0.06%
	VRT	F	-0.06%
	LNG	B	-0.06%
	DELL	F	-0.05%
	SNOW	F	-0.05%
	ALNY	C	-0.05%
	DDOG	D	-0.05%
	CSL	C	-0.04%
	NET	F	-0.04%
	ILMN	B	-0.04%
	TEAM	F	-0.04%
	ZM	B	-0.03%
	RBLX	B	-0.03%
	SUI	A	-0.03%
	ENTG	D	-0.03%
	TRU	B	-0.03%
	BAH	B	-0.03%
	MDB	C	-0.03%
	ARES	C	-0.03%
	PINS	F	-0.03%
	TPL	C	-0.03%
	MKL	C	-0.03%
	HUBS	F	-0.03%
	WPC	A	-0.02%
	RPM	A	-0.02%
	AVTR	B	-0.02%
	SSNC	B	-0.02%
	LPLA	D	-0.02%
	RS	D	-0.02%
	BMRN	D	-0.02%

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

LGH: Top Represented Industries & Keywords

Industries: Software - Application Utilities - Regulated Electric Diversified Industrials Business Services Semiconductors Asset Management Diagnostics & Research Oil & Gas E&P Banks - Regional - US Capital Markets Drug Manufacturers - Major Specialty Chemicals Aerospace & Defense Medical Devices Specialty Retail Credit Services Health Care Plans Household & Personal Products Information Technology Services Insurance - Property & Casualty

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