PRF vs. PHDG ETF Comparison

Comparison of Powershares FTSE RAFI US 1000 Portfolio (PRF) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

PRF

Powershares FTSE RAFI US 1000 Portfolio

PRF Description

The PowerShares FTSE RAFI US 1000 Portfolio (Fund) is based on the FTSE RAFI US 1000 Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of the largest US equities, selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The 1,000 equities with the highest fundamental strength are weighted by their fundamental scores. The Fund and the Index are reconstituted annually.

Grade (RS Rating)

Last Trade

$42.42

Average Daily Volume

211,779

Number of Holdings ^*

982

* 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

$38.27

Average Daily Volume

12,398

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

Performance

Period	PRF	PHDG
30 Days	2.81%	-1.45%
60 Days	4.61%	1.30%
90 Days	6.08%	1.18%
12 Months	29.30%	18.05%

480 Overlapping Holdings

	Symbol	Grade	Weight in PRF	Weight in PHDG	Overlap
	A	D	0.04%	0.04%	0.04%
	AAPL	C	2.3%	3.74%	2.3%
	ABBV	F	0.57%	0.32%	0.32%
	ABNB	C	0.01%	0.06%	0.01%
	ABT	B	0.32%	0.22%	0.22%
	ACGL	C	0.07%	0.04%	0.04%
	ACN	B	0.25%	0.24%	0.24%
	ADBE	C	0.11%	0.25%	0.11%
	ADI	D	0.17%	0.11%	0.11%
	ADM	D	0.21%	0.03%	0.03%
	ADP	A	0.14%	0.13%	0.13%
	ADSK	A	0.02%	0.07%	0.02%
	AEE	A	0.09%	0.03%	0.03%
	AEP	C	0.2%	0.05%	0.05%
	AES	F	0.05%	0.01%	0.01%
	AFL	B	0.2%	0.06%	0.06%
	AIG	B	0.31%	0.05%	0.05%
	AIZ	A	0.04%	0.01%	0.01%
	AJG	A	0.07%	0.07%	0.07%
	AKAM	D	0.02%	0.01%	0.01%
	ALB	B	0.03%	0.01%	0.01%
	ALGN	D	0.02%	0.02%	0.02%
	ALL	A	0.2%	0.06%	0.06%
	ALLE	C	0.02%	0.01%	0.01%
	AMAT	F	0.12%	0.17%	0.12%
	AMD	F	0.15%	0.24%	0.15%
	AME	A	0.04%	0.05%	0.04%
	AMGN	F	0.32%	0.17%	0.17%
	AMP	A	0.1%	0.06%	0.06%
	AMT	C	0.15%	0.1%	0.1%
	AMZN	C	1.74%	2.13%	1.74%
	ANET	C	0.03%	0.11%	0.03%
	ANSS	B	0.02%	0.03%	0.02%
	AON	A	0.07%	0.09%	0.07%
	AOS	F	0.01%	0.01%	0.01%
	APA	D	0.04%	0.01%	0.01%
	APD	A	0.16%	0.08%	0.08%
	APH	A	0.08%	0.09%	0.08%
	APTV	F	0.04%	0.02%	0.02%
	ARE	F	0.06%	0.02%	0.02%
	ATO	A	0.06%	0.02%	0.02%
	AVB	B	0.08%	0.03%	0.03%
	AVGO	D	0.5%	0.86%	0.5%
	AVY	F	0.03%	0.02%	0.02%
	AWK	C	0.05%	0.03%	0.03%
	AXP	A	0.29%	0.17%	0.17%
	AZO	C	0.07%	0.06%	0.06%
	BA	F	0.11%	0.11%	0.11%
	BAC	A	1.37%	0.33%	0.33%
	BALL	F	0.05%	0.02%	0.02%
	BAX	F	0.05%	0.02%	0.02%
	BBY	D	0.14%	0.02%	0.02%
	BDX	F	0.13%	0.07%	0.07%
	BEN	C	0.04%	0.01%	0.01%
	BG	D	0.1%	0.01%	0.01%
	BIIB	F	0.09%	0.03%	0.03%
	BK	A	0.27%	0.06%	0.06%
	BKNG	A	0.1%	0.18%	0.1%
	BKR	A	0.12%	0.05%	0.05%
	BLDR	D	0.06%	0.02%	0.02%
	BLK	B	0.33%	0.16%	0.16%
	BMY	B	0.42%	0.13%	0.13%
	BR	A	0.03%	0.03%	0.03%
	BRK.A	B	2.34%	0.92%	0.92%
	BRO	B	0.03%	0.03%	0.03%
	BSX	A	0.12%	0.14%	0.12%
	BWA	D	0.05%	0.01%	0.01%
	BX	A	0.13%	0.14%	0.13%
	BXP	C	0.06%	0.01%	0.01%
	C	A	1.14%	0.14%	0.14%
	CAG	F	0.07%	0.01%	0.01%
	CAH	B	0.29%	0.03%	0.03%
	CARR	C	0.11%	0.07%	0.07%
	CAT	B	0.34%	0.2%	0.2%
	CB	C	0.3%	0.12%	0.12%
	CBOE	C	0.02%	0.02%	0.02%
	CBRE	B	0.13%	0.04%	0.04%
	CCI	C	0.12%	0.05%	0.05%
	CCL	A	0.07%	0.03%	0.03%
	CDNS	B	0.02%	0.09%	0.02%
	CDW	F	0.04%	0.03%	0.03%
	CE	F	0.02%	0.01%	0.01%
	CEG	C	0.13%	0.08%	0.08%
	CF	A	0.06%	0.02%	0.02%
	CFG	B	0.16%	0.02%	0.02%
	CHD	A	0.04%	0.03%	0.03%
	CHRW	B	0.08%	0.01%	0.01%
	CHTR	C	0.25%	0.04%	0.04%
	CI	D	0.37%	0.1%	0.1%
	CINF	A	0.08%	0.03%	0.03%
	CL	D	0.13%	0.08%	0.08%
	CLX	A	0.05%	0.02%	0.02%
	CMCSA	B	0.78%	0.18%	0.18%
	CME	B	0.14%	0.09%	0.09%
	CMG	B	0.03%	0.09%	0.03%
	CMI	A	0.15%	0.05%	0.05%
	CMS	C	0.07%	0.02%	0.02%
	CNC	D	0.22%	0.03%	0.03%
	CNP	A	0.07%	0.02%	0.02%
	COF	C	0.41%	0.08%	0.08%
	COP	C	0.42%	0.14%	0.14%
	COR	B	0.26%	0.05%	0.05%
	COST	A	0.56%	0.44%	0.44%
	CPAY	A	0.04%	0.03%	0.03%
	CPB	D	0.03%	0.01%	0.01%
	CPRT	B	0.03%	0.05%	0.03%
	CPT	B	0.04%	0.01%	0.01%
	CRL	D	0.02%	0.01%	0.01%
	CRM	B	0.25%	0.35%	0.25%
	CSCO	B	0.64%	0.25%	0.25%
	CSGP	D	0.02%	0.03%	0.02%
	CSX	C	0.14%	0.07%	0.07%
	CTAS	B	0.06%	0.08%	0.06%
	CTLT	C	0.03%	0.01%	0.01%
	CTRA	B	0.07%	0.02%	0.02%
	CTSH	B	0.1%	0.04%	0.04%
	CTVA	C	0.09%	0.04%	0.04%
	CVS	D	0.53%	0.07%	0.07%
	CVX	A	1.16%	0.3%	0.3%
	CZR	F	0.03%	0.01%	0.01%
	D	C	0.26%	0.05%	0.05%
	DAL	B	0.04%	0.04%	0.04%
	DD	C	0.17%	0.04%	0.04%
	DE	B	0.22%	0.11%	0.11%
	DECK	A	0.02%	0.03%	0.02%
	DFS	B	0.2%	0.05%	0.05%
	DG	F	0.05%	0.02%	0.02%
	DGX	A	0.07%	0.02%	0.02%
	DHI	F	0.12%	0.05%	0.05%
	DHR	F	0.16%	0.17%	0.16%
	DIS	B	0.42%	0.21%	0.21%
	DLR	B	0.13%	0.06%	0.06%
	DLTR	F	0.04%	0.01%	0.01%
	DOC	C	0.07%	0.02%	0.02%
	DOV	A	0.05%	0.03%	0.03%
	DOW	F	0.18%	0.03%	0.03%
	DPZ	C	0.02%	0.02%	0.02%
	DRI	B	0.05%	0.02%	0.02%
	DTE	C	0.1%	0.03%	0.03%
	DUK	C	0.4%	0.09%	0.09%
	DVA	C	0.04%	0.01%	0.01%
	DVN	F	0.1%	0.03%	0.03%
	DXCM	C	0.01%	0.03%	0.01%
	EA	A	0.04%	0.04%	0.04%
	EBAY	D	0.09%	0.03%	0.03%
	ECL	D	0.07%	0.07%	0.07%
	ED	C	0.15%	0.04%	0.04%
	EFX	F	0.03%	0.03%	0.03%
	EG	C	0.05%	0.02%	0.02%
	EIX	B	0.14%	0.03%	0.03%
	EL	F	0.02%	0.02%	0.02%
	ELV	F	0.28%	0.1%	0.1%
	EMN	C	0.06%	0.01%	0.01%
	EMR	B	0.15%	0.08%	0.08%
	EOG	A	0.27%	0.08%	0.08%
	EPAM	B	0.01%	0.02%	0.01%
	EQIX	A	0.1%	0.09%	0.09%
	EQR	C	0.08%	0.03%	0.03%
	EQT	B	0.07%	0.03%	0.03%
	ES	C	0.11%	0.02%	0.02%
	ESS	B	0.05%	0.02%	0.02%
	ETN	A	0.18%	0.16%	0.16%
	ETR	B	0.15%	0.03%	0.03%
	EVRG	A	0.08%	0.02%	0.02%
	EW	C	0.03%	0.04%	0.03%
	EXC	C	0.2%	0.04%	0.04%
	EXPD	C	0.04%	0.02%	0.02%
	EXPE	B	0.04%	0.02%	0.02%
	EXR	C	0.04%	0.04%	0.04%
	F	C	0.39%	0.05%	0.05%
	FANG	C	0.08%	0.04%	0.04%
	FAST	B	0.06%	0.05%	0.05%
	FCX	F	0.14%	0.07%	0.07%
	FDS	B	0.02%	0.02%	0.02%
	FDX	B	0.31%	0.07%	0.07%
	FE	C	0.1%	0.02%	0.02%
	FFIV	B	0.02%	0.02%	0.02%
	FI	A	0.22%	0.13%	0.13%
	FIS	C	0.15%	0.05%	0.05%
	FITB	B	0.14%	0.03%	0.03%
	FMC	D	0.03%	0.01%	0.01%
	FOX	A	0.03%	0.01%	0.01%
	FOXA	A	0.05%	0.01%	0.01%
	FRT	B	0.02%	0.01%	0.01%
	FSLR	F	0.03%	0.02%	0.02%
	FTNT	C	0.01%	0.06%	0.01%
	FTV	C	0.03%	0.03%	0.03%
	GD	D	0.18%	0.08%	0.08%
	GDDY	A	0.02%	0.03%	0.02%
	GE	D	0.23%	0.21%	0.21%
	GEHC	D	0.08%	0.04%	0.04%
	GEN	B	0.06%	0.02%	0.02%
	GEV	B	0.1%	0.1%	0.1%
	GILD	C	0.37%	0.12%	0.12%
	GIS	D	0.13%	0.04%	0.04%
	GL	C	0.03%	0.01%	0.01%
	GLW	B	0.12%	0.04%	0.04%
	GM	C	0.79%	0.07%	0.07%
	GNRC	C	0.03%	0.01%	0.01%
	GOOG	C	0.89%	0.92%	0.89%
	GOOGL	C	1.03%	1.11%	1.03%
	GPC	D	0.05%	0.02%	0.02%
	GPN	B	0.07%	0.03%	0.03%
	GRMN	B	0.06%	0.03%	0.03%
	GS	A	0.78%	0.2%	0.2%
	GWW	B	0.06%	0.06%	0.06%
	HAL	C	0.07%	0.03%	0.03%
	HAS	D	0.04%	0.01%	0.01%
	HBAN	A	0.12%	0.03%	0.03%
	HCA	F	0.15%	0.07%	0.07%
	HD	B	0.73%	0.43%	0.43%
	HES	B	0.05%	0.04%	0.04%
	HIG	B	0.14%	0.04%	0.04%
	HII	F	0.02%	0.01%	0.01%
	HLT	A	0.03%	0.07%	0.03%
	HOLX	D	0.04%	0.02%	0.02%
	HON	C	0.3%	0.16%	0.16%
	HPE	B	0.19%	0.03%	0.03%
	HPQ	B	0.19%	0.04%	0.04%
	HRL	D	0.03%	0.01%	0.01%
	HSIC	C	0.03%	0.01%	0.01%
	HST	C	0.04%	0.01%	0.01%
	HSY	F	0.04%	0.03%	0.03%
	HUBB	B	0.03%	0.03%	0.03%
	HUM	C	0.14%	0.04%	0.04%
	HWM	A	0.05%	0.05%	0.05%
	IBM	C	0.53%	0.21%	0.21%
	ICE	C	0.12%	0.1%	0.1%
	IDXX	F	0.01%	0.04%	0.01%
	IEX	C	0.02%	0.02%	0.02%
	IFF	D	0.08%	0.02%	0.02%
	INCY	C	0.02%	0.01%	0.01%
	INTC	C	0.45%	0.12%	0.12%
	INTU	B	0.09%	0.21%	0.09%
	INVH	D	0.05%	0.02%	0.02%
	IP	A	0.15%	0.02%	0.02%
	IPG	D	0.04%	0.01%	0.01%
	IQV	F	0.05%	0.04%	0.04%
	IR	B	0.03%	0.04%	0.03%
	IRM	C	0.08%	0.04%	0.04%
	ISRG	A	0.08%	0.21%	0.08%
	IT	C	0.02%	0.04%	0.02%
	ITW	B	0.12%	0.08%	0.08%
	IVZ	B	0.06%	0.01%	0.01%
	J	D	0.04%	0.02%	0.02%
	JBHT	C	0.03%	0.02%	0.02%
	JBL	C	0.05%	0.02%	0.02%
	JCI	B	0.18%	0.06%	0.06%
	JKHY	D	0.02%	0.01%	0.01%
	JNJ	C	0.92%	0.39%	0.39%
	JNPR	D	0.03%	0.01%	0.01%
	JPM	A	2.2%	0.74%	0.74%
	K	A	0.08%	0.02%	0.02%
	KDP	F	0.09%	0.04%	0.04%
	KEY	B	0.11%	0.02%	0.02%
	KEYS	A	0.03%	0.03%	0.03%
	KHC	F	0.14%	0.03%	0.03%
	KIM	A	0.05%	0.02%	0.02%
	KKR	A	0.13%	0.11%	0.11%
	KLAC	F	0.05%	0.09%	0.05%
	KMB	C	0.13%	0.05%	0.05%
	KMI	A	0.3%	0.06%	0.06%
	KMX	B	0.08%	0.01%	0.01%
	KO	D	0.47%	0.26%	0.26%
	KR	B	0.31%	0.04%	0.04%
	L	A	0.06%	0.02%	0.02%
	LDOS	C	0.06%	0.02%	0.02%
	LEN	D	0.01%	0.04%	0.01%
	LEN	D	0.12%	0.04%	0.04%
	LH	B	0.06%	0.02%	0.02%
	LHX	C	0.12%	0.05%	0.05%
	LIN	C	0.28%	0.23%	0.23%
	LKQ	F	0.04%	0.01%	0.01%
	LLY	F	0.21%	0.67%	0.21%
	LMT	D	0.34%	0.12%	0.12%
	LNT	A	0.05%	0.02%	0.02%
	LOW	C	0.34%	0.17%	0.17%
	LRCX	F	0.07%	0.11%	0.07%
	LULU	C	0.02%	0.04%	0.02%
	LUV	C	0.02%	0.02%	0.02%
	LVS	B	0.03%	0.02%	0.02%
	LW	C	0.02%	0.01%	0.01%
	LYB	F	0.14%	0.02%	0.02%
	LYV	A	0.02%	0.02%	0.02%
	MA	B	0.17%	0.46%	0.17%
	MAA	B	0.05%	0.02%	0.02%
	MAR	A	0.06%	0.07%	0.06%
	MAS	D	0.03%	0.02%	0.02%
	MCD	D	0.29%	0.23%	0.23%
	MCHP	F	0.05%	0.04%	0.04%
	MCK	A	0.45%	0.09%	0.09%
	MCO	B	0.06%	0.08%	0.06%
	MDLZ	F	0.18%	0.09%	0.09%
	MDT	D	0.35%	0.12%	0.12%
	MET	A	0.29%	0.05%	0.05%
	META	D	0.96%	1.36%	0.96%
	MGM	D	0.04%	0.01%	0.01%
	MHK	D	0.06%	0.01%	0.01%
	MKC	C	0.04%	0.02%	0.02%
	MLM	C	0.04%	0.04%	0.04%
	MMC	B	0.13%	0.12%	0.12%
	MMM	D	0.42%	0.08%	0.08%
	MNST	C	0.03%	0.04%	0.03%
	MO	A	0.52%	0.1%	0.1%
	MOH	F	0.05%	0.02%	0.02%
	MOS	F	0.06%	0.01%	0.01%
	MPC	D	0.31%	0.06%	0.06%
	MRK	D	0.41%	0.27%	0.27%
	MRNA	F	0.04%	0.01%	0.01%
	MRO	B	0.07%	0.02%	0.02%
	MS	A	0.58%	0.18%	0.18%
	MSCI	C	0.02%	0.05%	0.02%
	MSFT	D	1.86%	3.42%	1.86%
	MSI	B	0.07%	0.09%	0.07%
	MTB	A	0.16%	0.04%	0.04%
	MTCH	D	0.01%	0.01%	0.01%
	MTD	F	0.02%	0.03%	0.02%
	MU	D	0.31%	0.12%	0.12%
	NDAQ	A	0.03%	0.03%	0.03%
	NDSN	B	0.02%	0.02%	0.02%
	NEE	C	0.38%	0.17%	0.17%
	NEM	D	0.16%	0.05%	0.05%
	NFLX	A	0.21%	0.39%	0.21%
	NI	A	0.06%	0.02%	0.02%
	NKE	F	0.12%	0.1%	0.1%
	NOC	D	0.17%	0.07%	0.07%
	NOW	A	0.04%	0.23%	0.04%
	NRG	B	0.11%	0.02%	0.02%
	NSC	B	0.13%	0.06%	0.06%
	NTAP	C	0.06%	0.03%	0.03%
	NTRS	A	0.1%	0.02%	0.02%
	NUE	C	0.12%	0.04%	0.04%
	NVDA	B	0.26%	3.89%	0.26%
	NVR	D	0.05%	0.03%	0.03%
	NWS	A	0.01%	0.0%	0.0%
	NWSA	A	0.03%	0.01%	0.01%
	NXPI	D	0.08%	0.06%	0.06%
	O	C	0.1%	0.05%	0.05%
	ODFL	C	0.03%	0.05%	0.03%
	OKE	A	0.18%	0.07%	0.07%
	OMC	C	0.08%	0.02%	0.02%
	ON	D	0.04%	0.03%	0.03%
	ORCL	A	0.32%	0.32%	0.32%
	ORLY	B	0.06%	0.08%	0.06%
	OTIS	C	0.06%	0.04%	0.04%
	OXY	D	0.13%	0.04%	0.04%
	PARA	C	0.12%	0.01%	0.01%
	PAYX	B	0.07%	0.05%	0.05%
	PCAR	B	0.14%	0.07%	0.07%
	PCG	A	0.11%	0.05%	0.05%
	PEG	A	0.15%	0.05%	0.05%
	PEP	F	0.48%	0.24%	0.24%
	PFE	F	0.77%	0.16%	0.16%
	PFG	D	0.1%	0.02%	0.02%
	PG	C	0.71%	0.42%	0.42%
	PGR	A	0.25%	0.16%	0.16%
	PH	A	0.11%	0.1%	0.1%
	PHM	D	0.07%	0.03%	0.03%
	PKG	A	0.06%	0.02%	0.02%
	PLD	F	0.15%	0.11%	0.11%
	PM	B	0.66%	0.21%	0.21%
	PNC	B	0.37%	0.09%	0.09%
	PNR	A	0.03%	0.02%	0.02%
	PNW	A	0.06%	0.01%	0.01%
	POOL	C	0.02%	0.01%	0.01%
	PPG	F	0.07%	0.03%	0.03%
	PPL	A	0.14%	0.03%	0.03%
	PRU	A	0.23%	0.05%	0.05%
	PSA	C	0.07%	0.06%	0.06%
	PSX	C	0.29%	0.06%	0.06%
	PTC	B	0.01%	0.02%	0.01%
	PWR	A	0.06%	0.05%	0.05%
	PYPL	B	0.2%	0.09%	0.09%
	QCOM	F	0.31%	0.2%	0.2%
	QRVO	F	0.02%	0.01%	0.01%
	RCL	A	0.05%	0.06%	0.05%
	REG	A	0.04%	0.01%	0.01%
	REGN	F	0.1%	0.09%	0.09%
	RF	A	0.12%	0.03%	0.03%
	RJF	A	0.07%	0.03%	0.03%
	RL	C	0.02%	0.01%	0.01%
	RMD	C	0.03%	0.04%	0.03%
	ROK	C	0.05%	0.04%	0.04%
	ROP	B	0.06%	0.07%	0.06%
	ROST	D	0.06%	0.05%	0.05%
	RSG	A	0.06%	0.05%	0.05%
	RTX	D	0.47%	0.17%	0.17%
	RVTY	F	0.03%	0.02%	0.02%
	SBAC	D	0.02%	0.03%	0.02%
	SBUX	A	0.17%	0.12%	0.12%
	SCHW	B	0.18%	0.13%	0.13%
	SHW	B	0.09%	0.1%	0.09%
	SJM	D	0.05%	0.01%	0.01%
	SLB	C	0.13%	0.07%	0.07%
	SMCI	F	0.0%	0.01%	0.0%
	SNA	A	0.04%	0.02%	0.02%
	SNPS	B	0.03%	0.09%	0.03%
	SO	C	0.36%	0.1%	0.1%
	SOLV	D	0.05%	0.01%	0.01%
	SPG	A	0.12%	0.06%	0.06%
	SPGI	C	0.17%	0.18%	0.17%
	SRE	A	0.19%	0.06%	0.06%
	STE	D	0.03%	0.02%	0.02%
	STLD	B	0.07%	0.02%	0.02%
	STT	B	0.16%	0.03%	0.03%
	STX	C	0.07%	0.02%	0.02%
	STZ	D	0.07%	0.04%	0.04%
	SWK	D	0.07%	0.01%	0.01%
	SWKS	F	0.03%	0.01%	0.01%
	SYF	B	0.23%	0.03%	0.03%
	SYK	B	0.12%	0.14%	0.12%
	SYY	D	0.14%	0.04%	0.04%
	T	A	1.18%	0.17%	0.17%
	TAP	C	0.05%	0.01%	0.01%
	TDG	D	0.07%	0.08%	0.07%
	TDY	B	0.04%	0.02%	0.02%
	TER	F	0.02%	0.02%	0.02%
	TFC	A	0.36%	0.07%	0.07%
	TFX	F	0.01%	0.01%	0.01%
	TGT	F	0.29%	0.08%	0.08%
	TJX	A	0.19%	0.15%	0.15%
	TMO	F	0.22%	0.22%	0.22%
	TMUS	B	0.33%	0.13%	0.13%
	TPR	B	0.04%	0.01%	0.01%
	TRGP	A	0.1%	0.05%	0.05%
	TRMB	B	0.03%	0.02%	0.02%
	TROW	B	0.09%	0.03%	0.03%
	TRV	B	0.24%	0.06%	0.06%
	TSCO	D	0.05%	0.03%	0.03%
	TSLA	B	0.37%	0.93%	0.37%
	TSN	B	0.15%	0.02%	0.02%
	TT	A	0.1%	0.1%	0.1%
	TTWO	A	0.04%	0.03%	0.03%
	TXN	C	0.34%	0.2%	0.2%
	TXT	D	0.04%	0.02%	0.02%
	TYL	B	0.02%	0.03%	0.02%
	UAL	A	0.06%	0.03%	0.03%
	UBER	F	0.05%	0.16%	0.05%
	UDR	B	0.04%	0.01%	0.01%
	UHS	D	0.05%	0.01%	0.01%
	ULTA	F	0.02%	0.02%	0.02%
	UNH	B	1.06%	0.59%	0.59%
	UNP	C	0.25%	0.15%	0.15%
	UPS	C	0.32%	0.1%	0.1%
	URI	C	0.11%	0.06%	0.06%
	USB	A	0.38%	0.08%	0.08%
	V	A	0.25%	0.56%	0.25%
	VICI	C	0.07%	0.04%	0.04%
	VLO	C	0.33%	0.05%	0.05%
	VLTO	C	0.02%	0.03%	0.02%
	VMC	B	0.04%	0.04%	0.04%
	VRSK	A	0.03%	0.04%	0.03%
	VRTX	D	0.09%	0.13%	0.09%
	VST	A	0.15%	0.05%	0.05%
	VTR	B	0.11%	0.03%	0.03%
	VTRS	A	0.09%	0.02%	0.02%
	VZ	C	1.19%	0.19%	0.19%
	WAB	B	0.06%	0.04%	0.04%
	WAT	C	0.02%	0.02%	0.02%
	WBA	F	0.11%	0.01%	0.01%
	WBD	B	0.16%	0.02%	0.02%
	WDC	D	0.1%	0.02%	0.02%
	WEC	A	0.11%	0.03%	0.03%
	WELL	A	0.16%	0.08%	0.08%
	WFC	A	1.29%	0.27%	0.27%
	WM	B	0.13%	0.09%	0.09%
	WMB	A	0.24%	0.07%	0.07%
	WMT	A	1.16%	0.4%	0.4%
	WRB	A	0.04%	0.02%	0.02%
	WST	C	0.01%	0.03%	0.01%
	WTW	B	0.07%	0.03%	0.03%
	WY	F	0.09%	0.02%	0.02%
	WYNN	C	0.01%	0.01%	0.01%
	XEL	A	0.15%	0.04%	0.04%
	XOM	B	2.24%	0.58%	0.58%
	XYL	D	0.03%	0.03%	0.03%
	YUM	D	0.05%	0.04%	0.04%
	ZBH	C	0.05%	0.02%	0.02%
	ZBRA	B	0.04%	0.02%	0.02%
	ZTS	D	0.06%	0.09%	0.06%

PRF Overweight 502 Positions Relative to PHDG

	Symbol	Grade	Weight
	ZIM	C	0.13%
	LUMN	C	0.12%
	THC	D	0.12%
	USFD	A	0.09%
	AER	A	0.09%
	JXN	C	0.09%
	FLEX	B	0.08%
	PFGC	B	0.08%
	ALLY	C	0.08%
	ARW	D	0.08%
	MKL	A	0.08%
	UNM	A	0.08%
	LNC	C	0.07%
	FNF	B	0.07%
	LNG	A	0.07%
	VFC	C	0.07%
	JEF	A	0.07%
	SQ	A	0.07%
	ACI	C	0.07%
	AA	A	0.07%
	EQH	C	0.06%
	WCC	B	0.06%
	VNO	C	0.06%
	CMA	B	0.06%
	CRBG	B	0.06%
	ORI	A	0.06%
	LAD	A	0.06%
	RGA	A	0.06%
	WHR	B	0.06%
	FYBR	C	0.06%
	JLL	D	0.06%
	R	B	0.06%
	MRVL	B	0.06%
	UGI	C	0.05%
	DXC	B	0.05%
	HBI	B	0.05%
	APO	B	0.05%
	TWLO	A	0.05%
	ZION	B	0.05%
	ACM	B	0.05%
	X	B	0.05%
	RS	B	0.05%
	SFM	A	0.05%
	BAP	A	0.05%
	BJ	A	0.05%
	TOL	B	0.05%
	AN	C	0.05%
	OC	A	0.05%
	M	F	0.05%
	OMF	A	0.05%
	CNH	C	0.05%
	FHN	A	0.05%
	TDS	B	0.05%
	AFG	A	0.05%
	KD	B	0.05%
	AVT	C	0.04%
	SUI	C	0.04%
	WPC	C	0.04%
	DINO	D	0.04%
	GT	C	0.04%
	WBS	A	0.04%
	SSNC	B	0.04%
	PBF	D	0.04%
	UTHR	C	0.04%
	LEA	F	0.04%
	STWD	C	0.04%
	SNV	C	0.04%
	INGR	C	0.04%
	ABG	C	0.04%
	TMHC	C	0.04%
	SNX	D	0.04%
	CCK	D	0.04%
	NWL	C	0.04%
	KSS	F	0.04%
	FAF	A	0.04%
	CASY	A	0.04%
	SLG	B	0.04%
	OGE	A	0.04%
	BERY	C	0.04%
	CCEP	C	0.04%
	BFH	C	0.04%
	OVV	B	0.04%
	EWBC	A	0.04%
	EME	A	0.04%
	GPI	B	0.04%
	AR	B	0.04%
	MTZ	B	0.04%
	MPW	F	0.04%
	PK	C	0.03%
	OLN	F	0.03%
	ICLR	D	0.03%
	COIN	C	0.03%
	ELAN	D	0.03%
	CMC	B	0.03%
	BHF	C	0.03%
	ALV	C	0.03%
	DASH	B	0.03%
	MAN	F	0.03%
	CLF	F	0.03%
	KRC	B	0.03%
	WTFC	A	0.03%
	GAP	C	0.03%
	AXTA	B	0.03%
	DAR	C	0.03%
	AGCO	D	0.03%
	OSK	C	0.03%
	WTRG	B	0.03%
	SCI	B	0.03%
	VLY	B	0.03%
	LBRDK	C	0.03%
	RIG	D	0.03%
	ALSN	B	0.03%
	BAH	F	0.03%
	CAR	C	0.03%
	GXO	B	0.03%
	ZM	C	0.03%
	WU	F	0.03%
	LAMR	C	0.03%
	CNO	B	0.03%
	BECN	B	0.03%
	AL	B	0.03%
	PNFP	B	0.03%
	CPNG	D	0.03%
	FLR	B	0.03%
	THO	B	0.03%
	FNB	A	0.03%
	BPOP	C	0.03%
	JWN	D	0.03%
	SANM	B	0.03%
	GLPI	C	0.03%
	CNX	A	0.03%
	TRU	D	0.03%
	COOP	B	0.03%
	CG	B	0.03%
	RRX	B	0.03%
	PB	B	0.03%
	OHI	C	0.03%
	BRX	A	0.03%
	AXS	A	0.03%
	GEO	B	0.03%
	GPK	C	0.03%
	MTH	D	0.03%
	LPLA	A	0.03%
	WSO	A	0.03%
	CACI	D	0.03%
	BURL	B	0.03%
	ARMK	B	0.03%
	KNX	C	0.03%
	FCNCA	A	0.03%
	OGN	F	0.03%
	PENN	C	0.03%
	CSL	C	0.03%
	JHG	B	0.03%
	VOYA	B	0.03%
	WAL	B	0.03%
	AVTR	F	0.03%
	COHR	B	0.03%
	SPOT	B	0.03%
	DKS	D	0.03%
	RPM	A	0.03%
	MUSA	B	0.03%
	WSM	C	0.03%
	HOOD	B	0.03%
	DTM	A	0.03%
	SF	B	0.03%
	CDP	C	0.02%
	TKR	D	0.02%
	VEEV	C	0.02%
	MSM	C	0.02%
	BWXT	B	0.02%
	WDAY	B	0.02%
	ASGN	F	0.02%
	MC	C	0.02%
	CHRD	D	0.02%
	PCH	F	0.02%
	RH	C	0.02%
	ARES	A	0.02%
	BLD	D	0.02%
	HP	C	0.02%
	GGG	B	0.02%
	APLE	B	0.02%
	CATY	B	0.02%
	RIVN	F	0.02%
	TTMI	C	0.02%
	DK	C	0.02%
	SMG	C	0.02%
	OUT	A	0.02%
	EPR	C	0.02%
	LNW	F	0.02%
	AIT	B	0.02%
	ADNT	F	0.02%
	ESNT	F	0.02%
	GHC	B	0.02%
	AVA	A	0.02%
	SFNC	C	0.02%
	GATX	A	0.02%
	TXRH	B	0.02%
	RPRX	D	0.02%
	COLD	D	0.02%
	HCC	B	0.02%
	SIG	B	0.02%
	Z	A	0.02%
	NSIT	F	0.02%
	RUSHA	C	0.02%
	FLO	D	0.02%
	AAL	B	0.02%
	LSTR	D	0.02%
	GMS	B	0.02%
	NJR	A	0.02%
	MDU	D	0.02%
	KRG	B	0.02%
	VAC	C	0.02%
	NAVI	F	0.02%
	ADC	A	0.02%
	HUBG	A	0.02%
	HLF	C	0.02%
	CC	C	0.02%
	MKSI	C	0.02%
	NVST	B	0.02%
	ALE	A	0.02%
	CBT	D	0.02%
	OI	C	0.02%
	PII	F	0.02%
	SLGN	A	0.02%
	NWE	B	0.02%
	FULT	A	0.02%
	ST	F	0.02%
	ABCB	B	0.02%
	CXW	C	0.02%
	UHAL	D	0.02%
	PAG	B	0.02%
	AGR	A	0.02%
	DY	D	0.02%
	DCI	B	0.02%
	VMI	B	0.02%
	PLXS	B	0.02%
	CHKP	C	0.02%
	WKC	C	0.02%
	GRAB	A	0.02%
	KBR	F	0.02%
	REZI	A	0.02%
	HRI	C	0.02%
	MIDD	C	0.02%
	HOMB	A	0.02%
	FHB	B	0.02%
	ITT	A	0.02%
	AGO	B	0.02%
	MELI	C	0.02%
	UMBF	B	0.02%
	UNFI	A	0.02%
	BTU	B	0.02%
	SAIC	F	0.02%
	TRN	B	0.02%
	SR	A	0.02%
	SLVM	B	0.02%
	AVNT	B	0.02%
	MHO	D	0.02%
	PNM	B	0.02%
	SEM	B	0.02%
	BC	C	0.02%
	NVT	B	0.02%
	CW	C	0.02%
	AYI	B	0.02%
	SCCO	F	0.02%
	COLB	B	0.02%
	PHIN	A	0.02%
	SM	B	0.02%
	PRI	B	0.02%
	VRT	B	0.02%
	OGS	A	0.02%
	MAT	D	0.02%
	SEE	C	0.02%
	CR	A	0.02%
	FL	F	0.02%
	ELS	C	0.02%
	LII	A	0.02%
	HOG	D	0.02%
	LITE	B	0.02%
	G	B	0.02%
	NOV	C	0.02%
	JAZZ	B	0.02%
	ATR	B	0.02%
	POST	C	0.02%
	NNN	C	0.02%
	KMPR	A	0.02%
	CUBE	C	0.02%
	EXEL	B	0.02%
	BKU	A	0.02%
	TNL	A	0.02%
	RNR	C	0.02%
	SLM	A	0.02%
	AAP	D	0.02%
	MTG	C	0.02%
	CBSH	B	0.02%
	BXMT	C	0.02%
	TCBI	C	0.02%
	OZK	B	0.02%
	UFPI	C	0.02%
	GBCI	B	0.02%
	XPO	B	0.02%
	PRGO	C	0.02%
	FLS	B	0.02%
	FBIN	D	0.02%
	RHI	C	0.02%
	KEX	B	0.02%
	PVH	C	0.02%
	AMG	B	0.02%
	RDN	D	0.02%
	MUR	D	0.02%
	SBRA	C	0.02%
	GME	C	0.02%
	HWC	B	0.02%
	IDA	A	0.02%
	BCC	B	0.02%
	HIW	C	0.02%
	ASB	B	0.02%
	DEI	B	0.02%
	THG	A	0.02%
	SON	F	0.02%
	SKX	D	0.02%
	SOFI	B	0.02%
	CWK	C	0.02%
	BKH	A	0.02%
	KBH	D	0.02%
	CIEN	C	0.02%
	POR	C	0.02%
	AMH	C	0.02%
	ABM	B	0.02%
	HUN	F	0.02%
	ILMN	C	0.02%
	CADE	B	0.02%
	EHC	B	0.02%
	LPX	B	0.02%
	UBSI	B	0.02%
	MAC	B	0.02%
	VSCO	C	0.02%
	TPH	D	0.02%
	CLH	C	0.02%
	NFG	A	0.02%
	BBWI	C	0.02%
	MLI	B	0.02%
	ONB	C	0.02%
	SSB	B	0.02%
	HRB	D	0.02%
	FTI	A	0.02%
	BIO	C	0.02%
	TGNA	B	0.02%
	AGNC	C	0.02%
	EVR	B	0.02%
	GNW	A	0.02%
	SWX	B	0.02%
	DOX	D	0.02%
	CUZ	B	0.02%
	NXST	C	0.02%
	CFR	B	0.02%
	AMN	F	0.01%
	FIVE	F	0.01%
	CNXC	F	0.01%
	HELE	C	0.01%
	CLVT	D	0.01%
	NUS	D	0.01%
	VSAT	F	0.01%
	JELD	F	0.01%
	HEI	A	0.01%
	OPCH	D	0.01%
	BGS	F	0.01%
	STNE	F	0.01%
	ZG	A	0.01%
	GTN	F	0.01%
	XP	F	0.01%
	OPEN	F	0.01%
	WSC	F	0.01%
	AMR	C	0.01%
	ODP	F	0.01%
	ARCB	C	0.01%
	SNOW	B	0.01%
	IGT	F	0.01%
	ACHC	F	0.01%
	DIOD	D	0.01%
	CRI	F	0.01%
	TROX	D	0.01%
	MLKN	F	0.01%
	NSP	F	0.01%
	HPP	F	0.01%
	LGIH	F	0.01%
	CBRL	C	0.01%
	HEI	A	0.01%
	CPRI	F	0.01%
	UA	C	0.01%
	ATKR	D	0.01%
	VSTS	C	0.01%
	RLJ	C	0.01%
	AMKR	D	0.01%
	UAA	C	0.01%
	XRAY	F	0.01%
	OMI	F	0.01%
	EGP	D	0.01%
	PDCO	F	0.01%
	URBN	C	0.01%
	SITE	F	0.01%
	ARI	C	0.01%
	BXC	B	0.01%
	VSH	F	0.01%
	ENOV	C	0.01%
	CSTM	F	0.01%
	AXL	C	0.01%
	W	D	0.01%
	DRH	B	0.01%
	DAN	D	0.01%
	PMT	C	0.01%
	UVV	B	0.01%
	LXP	D	0.01%
	CCS	D	0.01%
	CABO	B	0.01%
	CRC	A	0.01%
	CGNX	D	0.01%
	RYN	D	0.01%
	ASO	F	0.01%
	ASH	F	0.01%
	BMRN	F	0.01%
	ANDE	D	0.01%
	ENTG	D	0.01%
	TEX	F	0.01%
	LFUS	D	0.01%
	EEFT	B	0.01%
	JBGS	F	0.01%
	THS	D	0.01%
	WEX	D	0.01%
	PINC	B	0.01%
	HTZ	C	0.01%
	UNIT	B	0.01%
	FUL	F	0.01%
	PFSI	C	0.01%
	FND	D	0.01%
	FR	D	0.01%
	AEO	F	0.01%
	BYD	B	0.01%
	APAM	B	0.01%
	SAIA	B	0.01%
	OKTA	C	0.01%
	NOMD	D	0.01%
	RUN	F	0.01%
	KMT	B	0.01%
	SPB	C	0.01%
	TPX	B	0.01%
	LECO	C	0.01%
	PECO	A	0.01%
	GEF	A	0.01%
	LCII	C	0.01%
	ENS	F	0.01%
	FCN	F	0.01%
	ATI	C	0.01%
	XRX	F	0.01%
	PPBI	C	0.01%
	UCB	A	0.01%
	CNM	D	0.01%
	SBH	C	0.01%
	ESI	B	0.01%
	ABR	C	0.01%
	WH	B	0.01%
	CIVI	D	0.01%
	MMS	F	0.01%
	RRC	B	0.01%
	AM	A	0.01%
	SIGI	C	0.01%
	BCO	F	0.01%
	BOKF	B	0.01%
	FIBK	B	0.01%
	GNTX	C	0.01%
	ALIT	C	0.01%
	WLK	D	0.01%
	MTDR	B	0.01%
	RLI	A	0.01%
	STAG	D	0.01%
	ARCH	B	0.01%
	BDN	C	0.01%
	AUB	B	0.01%
	VYX	B	0.01%
	GTLS	A	0.01%
	WERN	C	0.01%
	VNT	C	0.01%
	IAC	F	0.01%
	RXO	D	0.01%
	TTC	C	0.01%
	SEIC	B	0.01%
	FFBC	B	0.01%
	LEG	F	0.01%
	INDB	B	0.01%
	RGLD	C	0.01%
	ESGR	B	0.01%
	REXR	F	0.01%
	HE	C	0.01%
	KNF	B	0.01%
	MTN	C	0.01%
	WWD	C	0.01%
	IRT	A	0.01%
	APG	B	0.01%
	ESAB	C	0.01%
	UHAL	D	0.0%
	SEDG	F	0.0%
	LBRDA	C	0.0%
	PARR	F	0.0%

PRF Underweight 20 Positions Relative to PHDG

	Symbol	Grade	Weight
	PANW	B	-0.14%
	PLTR	B	-0.13%
	CRWD	B	-0.09%
	FICO	B	-0.06%
	AXON	A	-0.05%
	KVUE	A	-0.05%
	DELL	B	-0.04%
	SW	A	-0.03%
	MPWR	F	-0.03%
	ROL	B	-0.02%
	AMCR	C	-0.02%
	VRSN	C	-0.02%
	PODD	C	-0.02%
	ENPH	F	-0.01%
	MKTX	D	-0.01%
	ERIE	D	-0.01%
	PAYC	B	-0.01%
	TECH	F	-0.01%
	NCLH	B	-0.01%
	DAY	B	-0.01%

PRF: Top Represented Industries & Keywords

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

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

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