PHDG vs. VONV ETF Comparison

Comparison of PowerShares S&P 500 Downside Hedged Portfolio (PHDG) to Vanguard Russell 1000 Value ETF (VONV)

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

$38.29

Average Daily Volume

12,398

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

VONV

Vanguard Russell 1000 Value ETF

VONV Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Value Index. The index is designed to measure the performance of large-capitalization value stocks in the United States. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$86.65

Average Daily Volume

369,875

Number of Holdings ^*

842

* may have additional holdings in another (foreign) market

Performance

Period	PHDG	VONV
30 Days	-1.45%	2.60%
60 Days	1.30%	4.54%
90 Days	1.18%	6.20%
12 Months	18.05%	28.76%

435 Overlapping Holdings

	Symbol	Grade	Weight in PHDG	Weight in VONV	Overlap
	A	D	0.04%	0.15%	0.04%
	ABBV	F	0.32%	0.82%	0.32%
	ABT	B	0.22%	0.78%	0.22%
	ACGL	C	0.04%	0.14%	0.04%
	ACN	B	0.24%	0.87%	0.24%
	ADI	D	0.11%	0.44%	0.11%
	ADM	D	0.03%	0.11%	0.03%
	ADP	A	0.13%	0.03%	0.03%
	AEE	A	0.03%	0.09%	0.03%
	AEP	C	0.05%	0.21%	0.05%
	AES	F	0.01%	0.05%	0.01%
	AFL	B	0.06%	0.23%	0.06%
	AIG	B	0.05%	0.2%	0.05%
	AIZ	A	0.01%	0.04%	0.01%
	AJG	A	0.07%	0.23%	0.07%
	AKAM	D	0.01%	0.06%	0.01%
	ALB	B	0.01%	0.04%	0.01%
	ALGN	D	0.02%	0.03%	0.02%
	ALL	A	0.06%	0.17%	0.06%
	ALLE	C	0.01%	0.05%	0.01%
	AMAT	F	0.17%	0.05%	0.05%
	AMCR	C	0.02%	0.06%	0.02%
	AMD	F	0.24%	0.32%	0.24%
	AME	A	0.05%	0.17%	0.05%
	AMGN	F	0.17%	0.15%	0.15%
	AMP	A	0.06%	0.02%	0.02%
	ANSS	B	0.03%	0.11%	0.03%
	AON	A	0.09%	0.29%	0.09%
	AOS	F	0.01%	0.04%	0.01%
	APA	D	0.01%	0.03%	0.01%
	APD	A	0.08%	0.28%	0.08%
	APH	A	0.09%	0.13%	0.09%
	APTV	F	0.02%	0.06%	0.02%
	ARE	F	0.02%	0.08%	0.02%
	ATO	A	0.02%	0.08%	0.02%
	AVB	B	0.03%	0.13%	0.03%
	AVY	F	0.02%	0.04%	0.02%
	AWK	C	0.03%	0.11%	0.03%
	AXP	A	0.17%	0.38%	0.17%
	AZO	C	0.06%	0.02%	0.02%
	BA	F	0.11%	0.34%	0.11%
	BAC	A	0.33%	1.14%	0.33%
	BALL	F	0.02%	0.07%	0.02%
	BAX	F	0.02%	0.07%	0.02%
	BBY	D	0.02%	0.08%	0.02%
	BDX	F	0.07%	0.27%	0.07%
	BEN	C	0.01%	0.02%	0.01%
	BG	D	0.01%	0.05%	0.01%
	BIIB	F	0.03%	0.1%	0.03%
	BK	A	0.06%	0.22%	0.06%
	BKNG	A	0.18%	0.04%	0.04%
	BKR	A	0.05%	0.15%	0.05%
	BLDR	D	0.02%	0.07%	0.02%
	BLK	B	0.16%	0.58%	0.16%
	BMY	B	0.13%	0.45%	0.13%
	BR	A	0.03%	0.01%	0.01%
	BRK.A	B	0.92%	3.3%	0.92%
	BRO	B	0.03%	0.06%	0.03%
	BSX	A	0.14%	0.49%	0.14%
	BWA	D	0.01%	0.03%	0.01%
	BXP	C	0.01%	0.05%	0.01%
	C	A	0.14%	0.49%	0.14%
	CAG	F	0.01%	0.06%	0.01%
	CAH	B	0.03%	0.04%	0.03%
	CARR	C	0.07%	0.2%	0.07%
	CAT	B	0.2%	0.63%	0.2%
	CB	C	0.12%	0.46%	0.12%
	CBOE	C	0.02%	0.09%	0.02%
	CBRE	B	0.04%	0.16%	0.04%
	CCI	C	0.05%	0.19%	0.05%
	CCL	A	0.03%	0.09%	0.03%
	CDW	F	0.03%	0.05%	0.03%
	CE	F	0.01%	0.04%	0.01%
	CEG	C	0.08%	0.28%	0.08%
	CF	A	0.02%	0.06%	0.02%
	CFG	B	0.02%	0.08%	0.02%
	CHD	A	0.03%	0.1%	0.03%
	CHRW	B	0.01%	0.05%	0.01%
	CHTR	C	0.04%	0.12%	0.04%
	CI	D	0.1%	0.32%	0.1%
	CINF	A	0.03%	0.09%	0.03%
	CL	D	0.08%	0.14%	0.08%
	CMCSA	B	0.18%	0.67%	0.18%
	CME	B	0.09%	0.32%	0.09%
	CMI	A	0.05%	0.18%	0.05%
	CMS	C	0.02%	0.08%	0.02%
	CNC	D	0.03%	0.13%	0.03%
	CNP	A	0.02%	0.07%	0.02%
	COF	C	0.08%	0.25%	0.08%
	COP	C	0.14%	0.51%	0.14%
	CPB	D	0.01%	0.04%	0.01%
	CPRT	B	0.05%	0.01%	0.01%
	CPT	B	0.01%	0.05%	0.01%
	CRL	D	0.01%	0.04%	0.01%
	CRM	B	0.35%	0.17%	0.17%
	CSCO	B	0.25%	0.89%	0.25%
	CSGP	D	0.03%	0.12%	0.03%
	CSX	C	0.07%	0.26%	0.07%
	CTAS	B	0.08%	0.01%	0.01%
	CTLT	C	0.01%	0.04%	0.01%
	CTRA	B	0.02%	0.07%	0.02%
	CTSH	B	0.04%	0.15%	0.04%
	CTVA	C	0.04%	0.17%	0.04%
	CVS	D	0.07%	0.29%	0.07%
	CVX	A	0.3%	1.03%	0.3%
	CZR	F	0.01%	0.03%	0.01%
	D	C	0.05%	0.2%	0.05%
	DAL	B	0.04%	0.15%	0.04%
	DAY	B	0.01%	0.04%	0.01%
	DD	C	0.04%	0.14%	0.04%
	DE	B	0.11%	0.41%	0.11%
	DELL	B	0.04%	0.11%	0.04%
	DFS	B	0.05%	0.15%	0.05%
	DG	F	0.02%	0.07%	0.02%
	DGX	A	0.02%	0.07%	0.02%
	DHI	F	0.05%	0.2%	0.05%
	DHR	F	0.17%	0.63%	0.17%
	DIS	B	0.21%	0.71%	0.21%
	DLR	B	0.06%	0.23%	0.06%
	DLTR	F	0.01%	0.05%	0.01%
	DOC	C	0.02%	0.06%	0.02%
	DOV	A	0.03%	0.1%	0.03%
	DOW	F	0.03%	0.14%	0.03%
	DPZ	C	0.02%	0.04%	0.02%
	DRI	B	0.02%	0.04%	0.02%
	DTE	C	0.03%	0.1%	0.03%
	DUK	C	0.09%	0.36%	0.09%
	DVN	F	0.03%	0.1%	0.03%
	EA	A	0.04%	0.16%	0.04%
	EBAY	D	0.03%	0.12%	0.03%
	ECL	D	0.07%	0.03%	0.03%
	ED	C	0.04%	0.14%	0.04%
	EFX	F	0.03%	0.1%	0.03%
	EG	C	0.02%	0.05%	0.02%
	EIX	B	0.03%	0.13%	0.03%
	EL	F	0.02%	0.04%	0.02%
	ELV	F	0.1%	0.32%	0.1%
	EMN	C	0.01%	0.05%	0.01%
	EMR	B	0.08%	0.25%	0.08%
	EOG	A	0.08%	0.28%	0.08%
	EPAM	B	0.02%	0.04%	0.02%
	EQIX	A	0.09%	0.33%	0.09%
	EQR	C	0.03%	0.11%	0.03%
	EQT	B	0.03%	0.08%	0.03%
	ES	C	0.02%	0.09%	0.02%
	ESS	B	0.02%	0.07%	0.02%
	ETN	A	0.16%	0.53%	0.16%
	ETR	B	0.03%	0.13%	0.03%
	EVRG	A	0.02%	0.05%	0.02%
	EW	C	0.04%	0.13%	0.04%
	EXC	C	0.04%	0.16%	0.04%
	EXPD	C	0.02%	0.06%	0.02%
	EXR	C	0.04%	0.14%	0.04%
	F	C	0.05%	0.16%	0.05%
	FANG	C	0.04%	0.13%	0.04%
	FAST	B	0.05%	0.03%	0.03%
	FCX	F	0.07%	0.26%	0.07%
	FDS	B	0.02%	0.04%	0.02%
	FDX	B	0.07%	0.25%	0.07%
	FE	C	0.02%	0.1%	0.02%
	FFIV	B	0.02%	0.05%	0.02%
	FI	A	0.13%	0.31%	0.13%
	FICO	B	0.06%	0.03%	0.03%
	FIS	C	0.05%	0.2%	0.05%
	FITB	B	0.03%	0.12%	0.03%
	FMC	D	0.01%	0.03%	0.01%
	FOX	A	0.01%	0.02%	0.01%
	FOXA	A	0.01%	0.04%	0.01%
	FRT	B	0.01%	0.04%	0.01%
	FSLR	F	0.02%	0.08%	0.02%
	FTNT	C	0.06%	0.04%	0.04%
	FTV	C	0.03%	0.1%	0.03%
	GD	D	0.08%	0.32%	0.08%
	GE	D	0.21%	0.59%	0.21%
	GEHC	D	0.04%	0.14%	0.04%
	GEN	B	0.02%	0.06%	0.02%
	GEV	B	0.1%	0.33%	0.1%
	GILD	C	0.12%	0.44%	0.12%
	GIS	D	0.04%	0.15%	0.04%
	GL	C	0.01%	0.04%	0.01%
	GLW	B	0.04%	0.15%	0.04%
	GM	C	0.07%	0.23%	0.07%
	GNRC	C	0.01%	0.02%	0.01%
	GPC	D	0.02%	0.06%	0.02%
	GPN	B	0.03%	0.11%	0.03%
	GRMN	B	0.03%	0.12%	0.03%
	GS	A	0.2%	0.48%	0.2%
	GWW	B	0.06%	0.02%	0.02%
	HAL	C	0.03%	0.1%	0.03%
	HAS	D	0.01%	0.0%	0.0%
	HBAN	A	0.03%	0.09%	0.03%
	HCA	F	0.07%	0.2%	0.07%
	HD	B	0.43%	0.32%	0.32%
	HES	B	0.04%	0.05%	0.04%
	HIG	B	0.04%	0.13%	0.04%
	HII	F	0.01%	0.03%	0.01%
	HLT	A	0.07%	0.11%	0.07%
	HOLX	D	0.02%	0.07%	0.02%
	HON	C	0.16%	0.45%	0.16%
	HPE	B	0.03%	0.1%	0.03%
	HPQ	B	0.04%	0.11%	0.04%
	HRL	D	0.01%	0.04%	0.01%
	HSIC	C	0.01%	0.04%	0.01%
	HST	C	0.01%	0.05%	0.01%
	HSY	F	0.03%	0.09%	0.03%
	HUBB	B	0.03%	0.09%	0.03%
	HUM	C	0.04%	0.12%	0.04%
	HWM	A	0.05%	0.15%	0.05%
	IBM	C	0.21%	0.76%	0.21%
	ICE	C	0.1%	0.35%	0.1%
	IEX	C	0.02%	0.07%	0.02%
	IFF	D	0.02%	0.1%	0.02%
	INCY	C	0.01%	0.04%	0.01%
	INTC	C	0.12%	0.37%	0.12%
	INVH	D	0.02%	0.08%	0.02%
	IP	A	0.02%	0.08%	0.02%
	IPG	D	0.01%	0.04%	0.01%
	IQV	F	0.04%	0.13%	0.04%
	IR	B	0.04%	0.15%	0.04%
	IRM	C	0.04%	0.06%	0.04%
	ITW	B	0.08%	0.19%	0.08%
	IVZ	B	0.01%	0.03%	0.01%
	J	D	0.02%	0.07%	0.02%
	JBHT	C	0.02%	0.06%	0.02%
	JBL	C	0.02%	0.05%	0.02%
	JCI	B	0.06%	0.17%	0.06%
	JKHY	D	0.01%	0.05%	0.01%
	JNJ	C	0.39%	1.54%	0.39%
	JNPR	D	0.01%	0.05%	0.01%
	JPM	A	0.74%	2.55%	0.74%
	K	A	0.02%	0.08%	0.02%
	KDP	F	0.04%	0.15%	0.04%
	KEY	B	0.02%	0.06%	0.02%
	KEYS	A	0.03%	0.1%	0.03%
	KHC	F	0.03%	0.12%	0.03%
	KIM	A	0.02%	0.06%	0.02%
	KKR	A	0.11%	0.27%	0.11%
	KMB	C	0.05%	0.11%	0.05%
	KMI	A	0.06%	0.19%	0.06%
	KMX	B	0.01%	0.04%	0.01%
	KO	D	0.26%	0.43%	0.26%
	KR	B	0.04%	0.15%	0.04%
	KVUE	A	0.05%	0.18%	0.05%
	L	A	0.02%	0.06%	0.02%
	LDOS	C	0.02%	0.1%	0.02%
	LEN	D	0.04%	0.16%	0.04%
	LEN	D	0.04%	0.01%	0.01%
	LH	B	0.02%	0.08%	0.02%
	LHX	C	0.05%	0.19%	0.05%
	LIN	C	0.23%	0.88%	0.23%
	LKQ	F	0.01%	0.04%	0.01%
	LMT	D	0.12%	0.32%	0.12%
	LNT	A	0.02%	0.06%	0.02%
	LOW	C	0.17%	0.6%	0.17%
	LUV	C	0.02%	0.07%	0.02%
	LW	C	0.01%	0.03%	0.01%
	LYB	F	0.02%	0.09%	0.02%
	MAA	B	0.02%	0.07%	0.02%
	MAR	A	0.07%	0.24%	0.07%
	MAS	D	0.02%	0.07%	0.02%
	MCD	D	0.23%	0.79%	0.23%
	MCHP	F	0.04%	0.16%	0.04%
	MCK	A	0.09%	0.15%	0.09%
	MDLZ	F	0.09%	0.37%	0.09%
	MDT	D	0.12%	0.46%	0.12%
	MET	A	0.05%	0.18%	0.05%
	MGM	D	0.01%	0.03%	0.01%
	MHK	D	0.01%	0.03%	0.01%
	MKC	C	0.02%	0.08%	0.02%
	MKTX	D	0.01%	0.04%	0.01%
	MLM	C	0.04%	0.14%	0.04%
	MMC	B	0.12%	0.37%	0.12%
	MMM	D	0.08%	0.23%	0.08%
	MNST	C	0.04%	0.03%	0.03%
	MO	A	0.1%	0.37%	0.1%
	MOH	F	0.02%	0.03%	0.02%
	MOS	F	0.01%	0.03%	0.01%
	MPC	D	0.06%	0.21%	0.06%
	MRNA	F	0.01%	0.07%	0.01%
	MRO	B	0.02%	0.06%	0.02%
	MS	A	0.18%	0.51%	0.18%
	MSCI	C	0.05%	0.07%	0.05%
	MSI	B	0.09%	0.16%	0.09%
	MTB	A	0.04%	0.13%	0.04%
	MTCH	D	0.01%	0.04%	0.01%
	MTD	F	0.03%	0.11%	0.03%
	MU	D	0.12%	0.44%	0.12%
	NDAQ	A	0.03%	0.12%	0.03%
	NDSN	B	0.02%	0.06%	0.02%
	NEE	C	0.17%	0.65%	0.17%
	NEM	D	0.05%	0.21%	0.05%
	NI	A	0.02%	0.06%	0.02%
	NKE	F	0.1%	0.14%	0.1%
	NOC	D	0.07%	0.28%	0.07%
	NRG	B	0.02%	0.04%	0.02%
	NSC	B	0.06%	0.23%	0.06%
	NTAP	C	0.03%	0.05%	0.03%
	NTRS	A	0.02%	0.08%	0.02%
	NUE	C	0.04%	0.14%	0.04%
	NVR	D	0.03%	0.1%	0.03%
	NWS	A	0.0%	0.01%	0.0%
	NWSA	A	0.01%	0.04%	0.01%
	O	C	0.05%	0.21%	0.05%
	OKE	A	0.07%	0.23%	0.07%
	OMC	C	0.02%	0.08%	0.02%
	ON	D	0.03%	0.12%	0.03%
	ORLY	B	0.08%	0.02%	0.02%
	OTIS	C	0.04%	0.16%	0.04%
	OXY	D	0.04%	0.13%	0.04%
	PARA	C	0.01%	0.03%	0.01%
	PAYC	B	0.01%	0.02%	0.01%
	PAYX	B	0.05%	0.11%	0.05%
	PCAR	B	0.07%	0.21%	0.07%
	PCG	A	0.05%	0.17%	0.05%
	PEG	A	0.05%	0.18%	0.05%
	PEP	F	0.24%	0.19%	0.19%
	PFE	F	0.16%	0.64%	0.16%
	PFG	D	0.02%	0.08%	0.02%
	PG	C	0.42%	1.21%	0.42%
	PGR	A	0.16%	0.09%	0.09%
	PH	A	0.1%	0.32%	0.1%
	PHM	D	0.03%	0.11%	0.03%
	PKG	A	0.02%	0.08%	0.02%
	PLD	F	0.11%	0.42%	0.11%
	PM	B	0.21%	0.83%	0.21%
	PNC	B	0.09%	0.3%	0.09%
	PNR	A	0.02%	0.07%	0.02%
	PNW	A	0.01%	0.04%	0.01%
	PPG	F	0.03%	0.12%	0.03%
	PPL	A	0.03%	0.1%	0.03%
	PRU	A	0.05%	0.18%	0.05%
	PSA	C	0.06%	0.18%	0.06%
	PSX	C	0.06%	0.2%	0.06%
	PTC	B	0.02%	0.03%	0.02%
	PWR	A	0.05%	0.12%	0.05%
	PYPL	B	0.09%	0.32%	0.09%
	QCOM	F	0.2%	0.05%	0.05%
	QRVO	F	0.01%	0.03%	0.01%
	RCL	A	0.06%	0.13%	0.06%
	REG	A	0.01%	0.05%	0.01%
	REGN	F	0.09%	0.32%	0.09%
	RF	A	0.03%	0.09%	0.03%
	RJF	A	0.03%	0.11%	0.03%
	RL	C	0.01%	0.03%	0.01%
	RMD	C	0.04%	0.1%	0.04%
	ROK	C	0.04%	0.11%	0.04%
	ROP	B	0.07%	0.23%	0.07%
	ROST	D	0.05%	0.14%	0.05%
	RSG	A	0.05%	0.16%	0.05%
	RTX	D	0.17%	0.64%	0.17%
	RVTY	F	0.02%	0.06%	0.02%
	SBAC	D	0.03%	0.1%	0.03%
	SBUX	A	0.12%	0.1%	0.1%
	SCHW	B	0.13%	0.38%	0.13%
	SHW	B	0.1%	0.03%	0.03%
	SJM	D	0.01%	0.05%	0.01%
	SLB	C	0.07%	0.23%	0.07%
	SNA	A	0.02%	0.07%	0.02%
	SO	C	0.1%	0.4%	0.1%
	SOLV	D	0.01%	0.04%	0.01%
	SPG	A	0.06%	0.16%	0.06%
	SPGI	C	0.18%	0.6%	0.18%
	SRE	A	0.06%	0.21%	0.06%
	STE	D	0.02%	0.09%	0.02%
	STLD	B	0.02%	0.08%	0.02%
	STT	B	0.03%	0.11%	0.03%
	STZ	D	0.04%	0.15%	0.04%
	SW	A	0.03%	0.11%	0.03%
	SWK	D	0.01%	0.06%	0.01%
	SWKS	F	0.01%	0.06%	0.01%
	SYF	B	0.03%	0.09%	0.03%
	SYK	B	0.14%	0.36%	0.14%
	SYY	D	0.04%	0.06%	0.04%
	T	A	0.17%	0.65%	0.17%
	TAP	C	0.01%	0.04%	0.01%
	TDG	D	0.08%	0.23%	0.08%
	TDY	B	0.02%	0.08%	0.02%
	TECH	F	0.01%	0.05%	0.01%
	TER	F	0.02%	0.01%	0.01%
	TFC	A	0.07%	0.23%	0.07%
	TFX	F	0.01%	0.04%	0.01%
	TGT	F	0.08%	0.28%	0.08%
	TJX	A	0.15%	0.21%	0.15%
	TMO	F	0.22%	0.84%	0.22%
	TMUS	B	0.13%	0.43%	0.13%
	TPR	B	0.01%	0.04%	0.01%
	TRMB	B	0.02%	0.06%	0.02%
	TROW	B	0.03%	0.1%	0.03%
	TRV	B	0.06%	0.22%	0.06%
	TSN	B	0.02%	0.07%	0.02%
	TT	A	0.1%	0.22%	0.1%
	TTWO	A	0.03%	0.11%	0.03%
	TXN	C	0.2%	0.65%	0.2%
	TXT	D	0.02%	0.06%	0.02%
	TYL	B	0.03%	0.02%	0.02%
	UAL	A	0.03%	0.1%	0.03%
	UDR	B	0.01%	0.06%	0.01%
	UHS	D	0.01%	0.05%	0.01%
	ULTA	F	0.02%	0.01%	0.01%
	UNH	B	0.59%	1.94%	0.59%
	UNP	C	0.15%	0.3%	0.15%
	UPS	C	0.1%	0.39%	0.1%
	URI	C	0.06%	0.16%	0.06%
	USB	A	0.08%	0.3%	0.08%
	VICI	C	0.04%	0.13%	0.04%
	VLO	C	0.05%	0.17%	0.05%
	VLTO	C	0.03%	0.06%	0.03%
	VMC	B	0.04%	0.11%	0.04%
	VRSN	C	0.02%	0.06%	0.02%
	VRTX	D	0.13%	0.25%	0.13%
	VTR	B	0.03%	0.11%	0.03%
	VTRS	A	0.02%	0.06%	0.02%
	VZ	C	0.19%	0.71%	0.19%
	WAB	B	0.04%	0.13%	0.04%
	WAT	C	0.02%	0.03%	0.02%
	WBA	F	0.01%	0.03%	0.01%
	WBD	B	0.02%	0.08%	0.02%
	WDC	D	0.02%	0.09%	0.02%
	WEC	A	0.03%	0.12%	0.03%
	WELL	A	0.08%	0.33%	0.08%
	WFC	A	0.27%	0.91%	0.27%
	WMB	A	0.07%	0.25%	0.07%
	WMT	A	0.4%	1.42%	0.4%
	WRB	A	0.02%	0.07%	0.02%
	WST	C	0.03%	0.04%	0.03%
	WTW	B	0.03%	0.12%	0.03%
	WY	F	0.02%	0.09%	0.02%
	WYNN	C	0.01%	0.04%	0.01%
	XEL	A	0.04%	0.15%	0.04%
	XOM	B	0.58%	2.1%	0.58%
	XYL	D	0.03%	0.12%	0.03%
	YUM	D	0.04%	0.09%	0.04%
	ZBH	C	0.02%	0.09%	0.02%
	ZBRA	B	0.02%	0.06%	0.02%
	ZTS	D	0.09%	0.06%	0.06%

PHDG Overweight 65 Positions Relative to VONV

	Symbol	Grade	Weight
	NVDA	B	3.89%
	AAPL	C	3.74%
	MSFT	D	3.42%
	AMZN	C	2.13%
	META	D	1.36%
	GOOGL	C	1.11%
	TSLA	B	0.93%
	GOOG	C	0.92%
	AVGO	D	0.86%
	LLY	F	0.67%
	V	A	0.56%
	MA	B	0.46%
	COST	A	0.44%
	NFLX	A	0.39%
	ORCL	A	0.32%
	MRK	D	0.27%
	ADBE	C	0.25%
	NOW	A	0.23%
	ISRG	A	0.21%
	INTU	B	0.21%
	UBER	F	0.16%
	PANW	B	0.14%
	BX	A	0.14%
	PLTR	B	0.13%
	LRCX	F	0.11%
	ANET	C	0.11%
	AMT	C	0.1%
	CRWD	B	0.09%
	WM	B	0.09%
	CMG	B	0.09%
	CDNS	B	0.09%
	SNPS	B	0.09%
	KLAC	F	0.09%
	MCO	B	0.08%
	ADSK	A	0.07%
	NXPI	D	0.06%
	ABNB	C	0.06%
	TRGP	A	0.05%
	ODFL	C	0.05%
	COR	B	0.05%
	AXON	A	0.05%
	VST	A	0.05%
	IDXX	F	0.04%
	LULU	C	0.04%
	VRSK	A	0.04%
	IT	C	0.04%
	CPAY	A	0.03%
	GDDY	A	0.03%
	DECK	A	0.03%
	MPWR	F	0.03%
	TSCO	D	0.03%
	DXCM	C	0.03%
	ROL	B	0.02%
	LVS	B	0.02%
	PODD	C	0.02%
	LYV	A	0.02%
	STX	C	0.02%
	CLX	A	0.02%
	EXPE	B	0.02%
	DVA	C	0.01%
	ENPH	F	0.01%
	SMCI	F	0.01%
	ERIE	D	0.01%
	NCLH	B	0.01%
	POOL	C	0.01%

PHDG Underweight 407 Positions Relative to VONV

	Symbol	Grade	Weight
	MRVL	B	-0.25%
	MSTR	B	-0.14%
	LNG	A	-0.09%
	ILMN	C	-0.09%
	FCNCA	A	-0.09%
	SQ	A	-0.09%
	APO	B	-0.08%
	ZM	C	-0.08%
	UTHR	C	-0.07%
	RS	B	-0.07%
	SUI	C	-0.07%
	WSO	A	-0.07%
	CSL	C	-0.07%
	CVNA	B	-0.07%
	TRU	D	-0.07%
	RGA	A	-0.06%
	USFD	A	-0.06%
	ACM	B	-0.06%
	THC	D	-0.06%
	TOL	B	-0.06%
	SSNC	B	-0.06%
	MKL	A	-0.06%
	AVTR	F	-0.06%
	OC	A	-0.06%
	RBA	A	-0.06%
	HOOD	B	-0.06%
	FNF	B	-0.06%
	IBKR	A	-0.06%
	FTI	A	-0.05%
	ITT	A	-0.05%
	SCI	B	-0.05%
	CLH	C	-0.05%
	UNM	A	-0.05%
	AMH	C	-0.05%
	WPC	C	-0.05%
	CASY	A	-0.05%
	CACI	D	-0.05%
	COHR	B	-0.05%
	NVT	B	-0.05%
	BMRN	F	-0.05%
	RPM	A	-0.05%
	EME	A	-0.05%
	ELS	C	-0.05%
	GLPI	C	-0.05%
	CW	C	-0.05%
	RNR	C	-0.05%
	EWBC	A	-0.05%
	GGG	B	-0.05%
	DTM	A	-0.04%
	FYBR	C	-0.04%
	DCI	B	-0.04%
	BWXT	B	-0.04%
	WBS	A	-0.04%
	JLL	D	-0.04%
	TW	A	-0.04%
	WAL	B	-0.04%
	NYT	D	-0.04%
	LAD	A	-0.04%
	CIEN	C	-0.04%
	REXR	F	-0.04%
	AFG	A	-0.04%
	AYI	B	-0.04%
	ALSN	B	-0.04%
	QGEN	D	-0.04%
	FHN	A	-0.04%
	EVR	B	-0.04%
	PRI	B	-0.04%
	RGLD	C	-0.04%
	SOFI	B	-0.04%
	WTRG	B	-0.04%
	CNH	C	-0.04%
	EHC	B	-0.04%
	WWD	C	-0.04%
	ARMK	B	-0.04%
	DKS	D	-0.04%
	AA	A	-0.04%
	DOX	D	-0.04%
	AFRM	A	-0.04%
	TTEK	F	-0.04%
	FBIN	D	-0.04%
	BLD	D	-0.04%
	SF	B	-0.04%
	OVV	B	-0.04%
	OHI	C	-0.04%
	RPRX	D	-0.04%
	PFGC	B	-0.04%
	CUBE	C	-0.04%
	NTNX	B	-0.04%
	TWLO	A	-0.04%
	CCK	D	-0.04%
	CG	B	-0.04%
	RRX	B	-0.04%
	ATR	B	-0.04%
	BJ	A	-0.04%
	LSTR	D	-0.03%
	MKSI	C	-0.03%
	ARW	D	-0.03%
	MTSI	B	-0.03%
	OKTA	C	-0.03%
	WEX	D	-0.03%
	XP	F	-0.03%
	BBWI	C	-0.03%
	FAF	A	-0.03%
	RGEN	D	-0.03%
	MTG	C	-0.03%
	ATI	C	-0.03%
	SIRI	C	-0.03%
	WMS	F	-0.03%
	BFAM	D	-0.03%
	CGNX	D	-0.03%
	PB	B	-0.03%
	OSK	C	-0.03%
	KEX	B	-0.03%
	HRB	D	-0.03%
	G	B	-0.03%
	STAG	D	-0.03%
	JAZZ	B	-0.03%
	COKE	C	-0.03%
	RHI	C	-0.03%
	FCN	F	-0.03%
	MAT	D	-0.03%
	AGNC	C	-0.03%
	ROKU	D	-0.03%
	FND	D	-0.03%
	MIDD	C	-0.03%
	SSD	F	-0.03%
	DASH	B	-0.03%
	FR	D	-0.03%
	FLS	B	-0.03%
	BIO	C	-0.03%
	ESAB	C	-0.03%
	WSM	C	-0.03%
	GNTX	C	-0.03%
	PR	B	-0.03%
	GXO	B	-0.03%
	LBRDK	C	-0.03%
	RRC	B	-0.03%
	SNV	C	-0.03%
	CHE	D	-0.03%
	ONTO	F	-0.03%
	VFC	C	-0.03%
	Z	A	-0.03%
	VNO	C	-0.03%
	COLD	D	-0.03%
	ADC	A	-0.03%
	SKX	D	-0.03%
	SAIC	F	-0.03%
	SEIC	B	-0.03%
	CBSH	B	-0.03%
	CFR	B	-0.03%
	ZION	B	-0.03%
	AR	B	-0.03%
	WTFC	A	-0.03%
	ACI	C	-0.03%
	EXAS	D	-0.03%
	LECO	C	-0.03%
	CR	A	-0.03%
	MTZ	B	-0.03%
	CHRD	D	-0.03%
	APG	B	-0.03%
	NNN	C	-0.03%
	RBC	A	-0.03%
	TKO	A	-0.03%
	OGE	A	-0.03%
	PNFP	B	-0.03%
	JEF	A	-0.03%
	BERY	C	-0.03%
	BRX	A	-0.03%
	VOYA	B	-0.03%
	CRBG	B	-0.03%
	KNX	C	-0.03%
	AAL	B	-0.03%
	KBR	F	-0.03%
	HLI	A	-0.03%
	GMED	A	-0.03%
	EGP	D	-0.03%
	RIVN	F	-0.03%
	ALLY	C	-0.03%
	GWRE	A	-0.03%
	GME	C	-0.03%
	AXTA	B	-0.03%
	WCC	B	-0.03%
	GPK	C	-0.03%
	TTC	C	-0.03%
	CMA	B	-0.03%
	BRBR	A	-0.03%
	LAMR	C	-0.03%
	ORI	A	-0.03%
	X	B	-0.03%
	SNX	D	-0.03%
	INGR	C	-0.03%
	ALNY	D	-0.02%
	KMPR	A	-0.02%
	MSGS	A	-0.02%
	RH	C	-0.02%
	HOG	D	-0.02%
	ACHC	F	-0.02%
	AN	C	-0.02%
	SITE	F	-0.02%
	GTES	A	-0.02%
	W	D	-0.02%
	AWI	A	-0.02%
	CLF	F	-0.02%
	FLO	D	-0.02%
	UHAL	D	-0.02%
	OLED	F	-0.02%
	GAP	C	-0.02%
	M	F	-0.02%
	FRPT	A	-0.02%
	ASH	F	-0.02%
	EEFT	B	-0.02%
	SLGN	A	-0.02%
	LITE	B	-0.02%
	DLB	B	-0.02%
	TPG	A	-0.02%
	DBX	B	-0.02%
	AGO	B	-0.02%
	WSC	F	-0.02%
	WTM	A	-0.02%
	WLK	D	-0.02%
	BILL	A	-0.02%
	RYN	D	-0.02%
	OZK	B	-0.02%
	XRAY	F	-0.02%
	AL	B	-0.02%
	CUZ	B	-0.02%
	KRC	B	-0.02%
	DOCS	C	-0.02%
	SLM	A	-0.02%
	BYD	B	-0.02%
	HXL	F	-0.02%
	OLN	F	-0.02%
	AVT	C	-0.02%
	OGN	F	-0.02%
	SN	D	-0.02%
	ROIV	C	-0.02%
	PSN	D	-0.02%
	SEE	C	-0.02%
	UGI	C	-0.02%
	ZG	A	-0.02%
	SON	F	-0.02%
	ST	F	-0.02%
	FNB	A	-0.02%
	KD	B	-0.02%
	IDA	A	-0.02%
	CROX	D	-0.02%
	THO	B	-0.02%
	THG	A	-0.02%
	JHG	B	-0.02%
	TKR	D	-0.02%
	POST	C	-0.02%
	SAIA	B	-0.02%
	BC	C	-0.02%
	LEA	F	-0.02%
	PVH	C	-0.02%
	H	B	-0.02%
	WHR	B	-0.02%
	NFG	A	-0.02%
	OMF	A	-0.02%
	OLLI	D	-0.02%
	MTDR	B	-0.02%
	BPOP	C	-0.02%
	COIN	C	-0.02%
	SRCL	B	-0.02%
	VNT	C	-0.02%
	MDU	D	-0.02%
	CRUS	D	-0.02%
	LNC	C	-0.02%
	S	B	-0.02%
	COLB	B	-0.02%
	LFUS	D	-0.02%
	ALK	B	-0.02%
	ESI	B	-0.02%
	AXS	A	-0.02%
	DINO	D	-0.02%
	RLI	A	-0.02%
	AMG	B	-0.02%
	NOV	C	-0.02%
	MSA	F	-0.02%
	STWD	C	-0.02%
	WH	B	-0.02%
	DAR	C	-0.02%
	VMI	B	-0.02%
	ELAN	D	-0.02%
	AGCO	D	-0.02%
	R	B	-0.02%
	UA	C	-0.01%
	SNDR	B	-0.01%
	FTRE	D	-0.01%
	GO	C	-0.01%
	LYFT	C	-0.01%
	REYN	D	-0.01%
	EXEL	B	-0.01%
	LEG	F	-0.01%
	TRIP	F	-0.01%
	WOLF	F	-0.01%
	WEN	D	-0.01%
	INFA	D	-0.01%
	VSTS	C	-0.01%
	BIRK	D	-0.01%
	PPC	C	-0.01%
	QS	F	-0.01%
	UAA	C	-0.01%
	AZEK	A	-0.01%
	LPX	B	-0.01%
	CRI	F	-0.01%
	PSTG	D	-0.01%
	PINC	B	-0.01%
	CNXC	F	-0.01%
	KSS	F	-0.01%
	SAM	C	-0.01%
	ETSY	D	-0.01%
	YETI	D	-0.01%
	AAP	D	-0.01%
	AZTA	D	-0.01%
	BROS	A	-0.01%
	LCID	F	-0.01%
	GLOB	B	-0.01%
	IPGP	D	-0.01%
	RKT	F	-0.01%
	RCM	A	-0.01%
	BRKR	D	-0.01%
	ENOV	C	-0.01%
	CPRI	F	-0.01%
	JWN	D	-0.01%
	ADTN	A	-0.01%
	EXP	B	-0.01%
	HAYW	B	-0.01%
	BOKF	B	-0.01%
	MP	C	-0.01%
	SHC	F	-0.01%
	HHH	B	-0.01%
	SPB	C	-0.01%
	CWEN	C	-0.01%
	CC	C	-0.01%
	VIRT	A	-0.01%
	AGR	A	-0.01%
	ALGM	D	-0.01%
	CXT	C	-0.01%
	VAC	C	-0.01%
	CLVT	D	-0.01%
	COLM	C	-0.01%
	LOPE	C	-0.01%
	MPW	F	-0.01%
	PAG	B	-0.01%
	COTY	F	-0.01%
	AMKR	D	-0.01%
	PK	C	-0.01%
	NSA	C	-0.01%
	CNM	D	-0.01%
	BHF	C	-0.01%
	MAN	F	-0.01%
	MASI	B	-0.01%
	PENN	C	-0.01%
	WU	F	-0.01%
	AM	A	-0.01%
	AMED	F	-0.01%
	IRDM	D	-0.01%
	PLNT	A	-0.01%
	FHB	B	-0.01%
	TNL	A	-0.01%
	SPR	D	-0.01%
	U	C	-0.01%
	NXST	C	-0.01%
	EPR	C	-0.01%
	ZI	D	-0.01%
	PRGO	C	-0.01%
	HIW	C	-0.01%
	CIVI	D	-0.01%
	DXC	B	-0.01%
	IAC	F	-0.01%
	NEU	D	-0.01%
	PII	F	-0.01%
	GFS	C	-0.01%
	MSM	C	-0.01%
	NVST	B	-0.01%
	DNB	B	-0.01%
	HUN	F	-0.01%
	NWL	C	-0.01%
	SMG	C	-0.01%
	UHAL	D	-0.0%
	UWMC	D	-0.0%
	SEG	B	-0.0%
	NFE	D	-0.0%
	IONS	F	-0.0%
	TXG	F	-0.0%
	PLTK	B	-0.0%
	CHH	A	-0.0%
	CACC	D	-0.0%
	UI	B	-0.0%
	TFSL	A	-0.0%
	LBRDA	C	-0.0%
	SEB	F	-0.0%
	PATH	C	-0.0%
	CWEN	C	-0.0%
	DJT	C	-0.0%
	CAR	C	-0.0%
	LSCC	D	-0.0%
	PYCR	B	-0.0%
	MTN	C	-0.0%
	HCP	B	-0.0%
	FIVE	F	-0.0%
	CNA	C	-0.0%
	DV	C	-0.0%
	DDS	B	-0.0%
	NCNO	C	-0.0%
	CERT	F	-0.0%

PHDG: Top Represented Industries & Keywords

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

VONV: Top Represented Industries & Keywords

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

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