QUS vs. PHDG ETF Comparison

Comparison of SPDR MSCI USA Quality Mix ETF (QUS) to PowerShares S&P 500 Downside Hedged Portfolio (PHDG)

QUS

SPDR MSCI USA Quality Mix ETF

QUS Description

The investment seeks to track the performance of the MSCI USA Quality Mix A-Series Index. The fund invests at least 80%, of its total assets in the securities comprising the index. The index is designed to measure the equity market performance of large-and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility. It is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI USA Value Weighted Index, the MSCI USA Quality Index, and the MSCI USA Minimum Volatility Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$151.02

Average Daily Volume

25,075

Number of Holdings ^*

588

* 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	QUS	PHDG
30 Days	4.27%	-2.46%
60 Days	1.48%	-2.65%
90 Days	3.91%	1.19%
12 Months	23.73%	16.88%

481 Overlapping Holdings

	Symbol	Grade	Weight in QUS	Weight in PHDG	Overlap
	A	B	0.12%	0.05%	0.05%
	AAPL	C	3.33%	3.74%	3.33%
	ABBV	B	0.6%	0.4%	0.4%
	ABNB	F	0.02%	0.06%	0.02%
	ABT	A	0.15%	0.23%	0.15%
	ACGL	B	0.42%	0.05%	0.05%
	ACN	A	1.15%	0.24%	0.24%
	ADBE	B	0.81%	0.29%	0.29%
	ADI	C	0.15%	0.13%	0.13%
	ADM	D	0.1%	0.03%	0.03%
	ADP	B	0.5%	0.13%	0.13%
	ADSK	B	0.14%	0.06%	0.06%
	AEE	A	0.1%	0.03%	0.03%
	AEP	A	0.2%	0.06%	0.06%
	AES	D	0.02%	0.01%	0.01%
	AFL	B	0.22%	0.06%	0.06%
	AIG	D	0.12%	0.06%	0.06%
	AIZ	B	0.11%	0.01%	0.01%
	AJG	A	0.46%	0.07%	0.07%
	AKAM	D	0.17%	0.02%	0.02%
	ALB	F	0.01%	0.01%	0.01%
	ALGN	F	0.01%	0.02%	0.01%
	ALL	B	0.06%	0.06%	0.06%
	ALLE	B	0.04%	0.01%	0.01%
	AMAT	F	0.56%	0.18%	0.18%
	AMCR	B	0.02%	0.02%	0.02%
	AMD	F	0.07%	0.27%	0.07%
	AME	D	0.02%	0.04%	0.02%
	AMGN	C	0.32%	0.2%	0.2%
	AMP	B	0.03%	0.05%	0.03%
	AMT	A	0.04%	0.12%	0.04%
	AMZN	D	0.59%	1.79%	0.59%
	ANET	D	0.36%	0.1%	0.1%
	ANSS	D	0.01%	0.03%	0.01%
	AON	A	0.19%	0.08%	0.08%
	AOS	D	0.03%	0.01%	0.01%
	APA	F	0.06%	0.01%	0.01%
	APD	B	0.04%	0.07%	0.04%
	APH	D	0.69%	0.09%	0.09%
	APTV	D	0.03%	0.02%	0.02%
	ARE	D	0.02%	0.02%	0.02%
	ATO	A	0.04%	0.02%	0.02%
	AVB	B	0.02%	0.04%	0.02%
	AVGO	D	0.57%	0.79%	0.57%
	AVY	B	0.01%	0.02%	0.01%
	AWK	A	0.02%	0.03%	0.02%
	AXON	B	0.0%	0.03%	0.0%
	AXP	B	0.1%	0.17%	0.1%
	AZO	B	0.38%	0.06%	0.06%
	BA	F	0.03%	0.11%	0.03%
	BAC	D	0.61%	0.31%	0.31%
	BALL	A	0.02%	0.02%	0.02%
	BAX	A	0.02%	0.02%	0.02%
	BBWI	F	0.01%	0.01%	0.01%
	BBY	A	0.09%	0.02%	0.02%
	BDX	D	0.26%	0.08%	0.08%
	BEN	F	0.01%	0.01%	0.01%
	BG	D	0.05%	0.02%	0.02%
	BIIB	D	0.03%	0.03%	0.03%
	BIO	A	0.01%	0.01%	0.01%
	BK	B	0.08%	0.06%	0.06%
	BKNG	C	0.03%	0.15%	0.03%
	BKR	D	0.03%	0.04%	0.03%
	BLDR	C	0.08%	0.02%	0.02%
	BLK	B	0.4%	0.14%	0.14%
	BMY	B	0.31%	0.11%	0.11%
	BR	C	0.03%	0.03%	0.03%
	BRK.A	B	1.11%	0.96%	0.96%
	BRO	A	0.01%	0.03%	0.01%
	BSX	A	0.04%	0.13%	0.04%
	BX	B	0.04%	0.11%	0.04%
	BXP	A	0.01%	0.01%	0.01%
	C	D	0.41%	0.13%	0.13%
	CAG	A	0.03%	0.02%	0.02%
	CAH	A	0.11%	0.03%	0.03%
	CARR	B	0.03%	0.07%	0.03%
	CAT	C	0.58%	0.2%	0.2%
	CB	A	0.64%	0.13%	0.13%
	CBOE	A	0.31%	0.03%	0.03%
	CBRE	B	0.04%	0.04%	0.04%
	CCI	A	0.02%	0.06%	0.02%
	CCL	D	0.01%	0.02%	0.01%
	CDNS	D	0.27%	0.08%	0.08%
	CDW	D	0.25%	0.03%	0.03%
	CE	F	0.02%	0.01%	0.01%
	CEG	D	0.03%	0.07%	0.03%
	CF	B	0.03%	0.02%	0.02%
	CFG	B	0.06%	0.02%	0.02%
	CHD	A	0.14%	0.03%	0.03%
	CHRW	B	0.02%	0.01%	0.01%
	CHTR	C	0.08%	0.04%	0.04%
	CI	B	0.27%	0.12%	0.12%
	CINF	B	0.03%	0.02%	0.02%
	CL	A	0.19%	0.1%	0.1%
	CLX	A	0.01%	0.02%	0.01%
	CMCSA	C	0.4%	0.18%	0.18%
	CME	A	0.22%	0.09%	0.09%
	CMG	D	0.21%	0.09%	0.09%
	CMI	B	0.15%	0.05%	0.05%
	CMS	A	0.09%	0.02%	0.02%
	CNC	D	0.12%	0.05%	0.05%
	CNP	D	0.02%	0.02%	0.02%
	COF	C	0.13%	0.06%	0.06%
	COP	D	0.17%	0.15%	0.15%
	COST	B	1.31%	0.45%	0.45%
	CPAY	B	0.01%	0.02%	0.01%
	CPB	A	0.14%	0.01%	0.01%
	CPRT	D	0.13%	0.05%	0.05%
	CPT	B	0.01%	0.02%	0.01%
	CRL	F	0.01%	0.01%	0.01%
	CRM	D	0.1%	0.29%	0.1%
	CRWD	F	0.05%	0.07%	0.05%
	CSCO	B	1.19%	0.23%	0.23%
	CSGP	C	0.01%	0.04%	0.01%
	CSX	D	0.05%	0.08%	0.05%
	CTAS	B	0.22%	0.08%	0.08%
	CTLT	A	0.01%	0.01%	0.01%
	CTRA	F	0.03%	0.02%	0.02%
	CTSH	B	0.4%	0.04%	0.04%
	CTVA	B	0.17%	0.04%	0.04%
	CVS	F	0.32%	0.08%	0.08%
	CVX	F	0.51%	0.29%	0.29%
	CZR	D	0.01%	0.01%	0.01%
	D	A	0.14%	0.05%	0.05%
	DAL	D	0.01%	0.03%	0.01%
	DAY	C	0.0%	0.01%	0.0%
	DD	C	0.04%	0.04%	0.04%
	DE	B	0.1%	0.11%	0.1%
	DECK	C	0.08%	0.03%	0.03%
	DFS	C	0.06%	0.04%	0.04%
	DG	F	0.04%	0.03%	0.03%
	DGX	B	0.06%	0.02%	0.02%
	DHI	B	0.22%	0.06%	0.06%
	DHR	B	0.1%	0.2%	0.1%
	DIS	F	0.14%	0.19%	0.14%
	DLR	D	0.03%	0.06%	0.03%
	DLTR	F	0.03%	0.02%	0.02%
	DOC	B	0.01%	0.02%	0.01%
	DOV	C	0.02%	0.03%	0.02%
	DOW	D	0.07%	0.04%	0.04%
	DPZ	D	0.07%	0.02%	0.02%
	DRI	A	0.01%	0.02%	0.01%
	DTE	B	0.1%	0.03%	0.03%
	DUK	A	0.62%	0.1%	0.1%
	DVA	B	0.01%	0.01%	0.01%
	DVN	F	0.05%	0.03%	0.03%
	DXCM	F	0.0%	0.03%	0.0%
	EA	C	0.29%	0.04%	0.04%
	EBAY	A	0.02%	0.03%	0.02%
	ECL	B	0.03%	0.07%	0.03%
	ED	A	0.44%	0.04%	0.04%
	EFX	B	0.02%	0.04%	0.02%
	EG	B	0.19%	0.02%	0.02%
	EIX	A	0.05%	0.04%	0.04%
	EL	F	0.02%	0.02%	0.02%
	ELV	B	0.41%	0.15%	0.15%
	EMN	C	0.02%	0.01%	0.01%
	EMR	D	0.04%	0.07%	0.04%
	ENPH	D	0.05%	0.02%	0.02%
	EOG	D	0.15%	0.08%	0.08%
	EPAM	C	0.03%	0.01%	0.01%
	EQIX	B	0.02%	0.09%	0.02%
	EQR	B	0.02%	0.03%	0.02%
	EQT	D	0.02%	0.02%	0.02%
	ES	A	0.03%	0.03%	0.03%
	ESS	B	0.01%	0.02%	0.01%
	ETN	D	0.04%	0.13%	0.04%
	ETR	A	0.04%	0.03%	0.03%
	ETSY	F	0.0%	0.01%	0.0%
	EVRG	A	0.02%	0.02%	0.02%
	EW	F	0.13%	0.05%	0.05%
	EXC	A	0.05%	0.04%	0.04%
	EXPD	D	0.07%	0.02%	0.02%
	EXPE	C	0.01%	0.02%	0.01%
	EXR	B	0.02%	0.04%	0.02%
	F	D	0.17%	0.05%	0.05%
	FANG	D	0.25%	0.04%	0.04%
	FAST	D	0.13%	0.04%	0.04%
	FCX	D	0.04%	0.07%	0.04%
	FDS	C	0.04%	0.02%	0.02%
	FDX	D	0.12%	0.08%	0.08%
	FE	A	0.03%	0.03%	0.03%
	FFIV	B	0.19%	0.01%	0.01%
	FICO	A	0.16%	0.05%	0.05%
	FIS	A	0.03%	0.05%	0.03%
	FITB	B	0.06%	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	0.01%	0.05%	0.01%
	FTV	D	0.02%	0.03%	0.02%
	GD	B	0.07%	0.08%	0.07%
	GDDY	C	0.31%	0.03%	0.03%
	GE	C	0.11%	0.22%	0.11%
	GEHC	B	0.03%	0.04%	0.03%
	GEV	A	0.03%	0.06%	0.03%
	GILD	A	0.39%	0.11%	0.11%
	GIS	A	0.29%	0.05%	0.05%
	GLW	C	0.13%	0.04%	0.04%
	GM	B	0.28%	0.06%	0.06%
	GOOG	D	1.08%	0.92%	0.92%
	GOOGL	D	1.16%	1.1%	1.1%
	GPC	D	0.02%	0.02%	0.02%
	GPN	C	0.03%	0.03%	0.03%
	GRMN	B	0.18%	0.03%	0.03%
	GS	C	0.26%	0.19%	0.19%
	GWW	C	0.17%	0.05%	0.05%
	HAL	F	0.03%	0.03%	0.03%
	HBAN	B	0.05%	0.02%	0.02%
	HCA	B	0.07%	0.09%	0.07%
	HD	B	0.33%	0.42%	0.33%
	HES	F	0.02%	0.04%	0.02%
	HIG	B	0.09%	0.04%	0.04%
	HII	B	0.02%	0.01%	0.01%
	HLT	C	0.01%	0.06%	0.01%
	HOLX	A	0.08%	0.02%	0.02%
	HON	D	0.48%	0.15%	0.15%
	HPE	D	0.06%	0.03%	0.03%
	HPQ	D	0.07%	0.03%	0.03%
	HRL	A	0.09%	0.01%	0.01%
	HSIC	C	0.01%	0.01%	0.01%
	HST	D	0.01%	0.01%	0.01%
	HSY	A	0.21%	0.03%	0.03%
	HUBB	C	0.06%	0.02%	0.02%
	HUM	D	0.26%	0.05%	0.05%
	HWM	B	0.01%	0.04%	0.01%
	IBM	A	0.67%	0.21%	0.21%
	ICE	A	0.15%	0.11%	0.11%
	IDXX	D	0.14%	0.05%	0.05%
	IEX	D	0.04%	0.02%	0.02%
	IFF	A	0.02%	0.03%	0.02%
	INCY	C	0.18%	0.01%	0.01%
	INTC	F	0.15%	0.1%	0.1%
	INTU	D	0.04%	0.2%	0.04%
	INVH	B	0.01%	0.02%	0.01%
	IP	B	0.03%	0.02%	0.02%
	IPG	B	0.02%	0.01%	0.01%
	IQV	B	0.02%	0.05%	0.02%
	IR	D	0.02%	0.04%	0.02%
	IRM	B	0.01%	0.04%	0.01%
	ISRG	B	0.03%	0.2%	0.03%
	IT	B	0.12%	0.04%	0.04%
	ITW	C	0.25%	0.08%	0.08%
	J	C	0.02%	0.02%	0.02%
	JBHT	C	0.05%	0.02%	0.02%
	JBL	F	0.02%	0.01%	0.01%
	JCI	C	0.04%	0.05%	0.04%
	JKHY	B	0.04%	0.01%	0.01%
	JNJ	B	1.79%	0.45%	0.45%
	JNPR	A	0.18%	0.01%	0.01%
	JPM	B	0.98%	0.73%	0.73%
	K	A	0.3%	0.02%	0.02%
	KDP	A	0.27%	0.04%	0.04%
	KEY	B	0.04%	0.02%	0.02%
	KEYS	C	0.27%	0.03%	0.03%
	KHC	A	0.21%	0.03%	0.03%
	KIM	A	0.02%	0.02%	0.02%
	KKR	B	0.04%	0.09%	0.04%
	KLAC	D	0.39%	0.12%	0.12%
	KMB	A	0.11%	0.06%	0.06%
	KMI	B	0.05%	0.05%	0.05%
	KMX	C	0.03%	0.02%	0.02%
	KO	B	0.97%	0.32%	0.32%
	KR	C	0.3%	0.04%	0.04%
	KVUE	A	0.04%	0.05%	0.04%
	L	B	0.12%	0.02%	0.02%
	LDOS	B	0.02%	0.02%	0.02%
	LEN	B	0.07%	0.05%	0.05%
	LHX	C	0.04%	0.05%	0.04%
	LIN	B	0.17%	0.26%	0.17%
	LKQ	D	0.02%	0.01%	0.01%
	LLY	B	2.5%	0.87%	0.87%
	LMT	A	0.78%	0.14%	0.14%
	LNT	A	0.05%	0.02%	0.02%
	LOW	B	0.12%	0.16%	0.12%
	LRCX	F	0.35%	0.12%	0.12%
	LULU	F	0.1%	0.03%	0.03%
	LUV	A	0.0%	0.02%	0.0%
	LVS	D	0.0%	0.02%	0.0%
	LW	D	0.03%	0.01%	0.01%
	LYB	D	0.06%	0.03%	0.03%
	LYV	D	0.0%	0.02%	0.0%
	MA	B	1.56%	0.44%	0.44%
	MAA	B	0.01%	0.02%	0.01%
	MAR	D	0.01%	0.06%	0.01%
	MAS	B	0.01%	0.02%	0.01%
	MCD	A	0.5%	0.24%	0.24%
	MCHP	D	0.13%	0.05%	0.05%
	MCK	D	0.57%	0.08%	0.08%
	MCO	B	0.22%	0.09%	0.09%
	MDLZ	A	0.25%	0.11%	0.11%
	MDT	A	0.15%	0.13%	0.13%
	MET	B	0.08%	0.05%	0.05%
	META	C	2.21%	1.3%	1.3%
	MGM	F	0.01%	0.01%	0.01%
	MKC	A	0.02%	0.02%	0.02%
	MKTX	A	0.03%	0.01%	0.01%
	MLM	D	0.02%	0.04%	0.02%
	MMC	A	0.71%	0.13%	0.13%
	MMM	B	0.29%	0.08%	0.08%
	MNST	D	0.11%	0.04%	0.04%
	MO	A	0.06%	0.1%	0.06%
	MOH	C	0.15%	0.02%	0.02%
	MOS	F	0.04%	0.01%	0.01%
	MPC	D	0.35%	0.07%	0.07%
	MPWR	C	0.12%	0.05%	0.05%
	MRK	D	0.57%	0.34%	0.34%
	MRNA	F	0.03%	0.03%	0.03%
	MRO	C	0.04%	0.02%	0.02%
	MS	C	0.16%	0.15%	0.15%
	MSCI	B	0.01%	0.05%	0.01%
	MSFT	D	2.73%	3.5%	2.73%
	MSI	B	0.57%	0.08%	0.08%
	MTB	B	0.07%	0.03%	0.03%
	MTCH	B	0.01%	0.01%	0.01%
	MTD	C	0.01%	0.04%	0.01%
	MU	F	0.07%	0.12%	0.07%
	NDAQ	A	0.02%	0.03%	0.02%
	NDSN	C	0.01%	0.02%	0.01%
	NEE	A	0.1%	0.19%	0.1%
	NEM	B	0.24%	0.07%	0.07%
	NFLX	B	0.12%	0.34%	0.12%
	NI	A	0.02%	0.02%	0.02%
	NKE	C	0.31%	0.11%	0.11%
	NOC	B	0.58%	0.08%	0.08%
	NOW	B	0.22%	0.19%	0.19%
	NRG	C	0.02%	0.02%	0.02%
	NSC	B	0.05%	0.06%	0.05%
	NTAP	D	0.18%	0.03%	0.03%
	NTRS	B	0.03%	0.02%	0.02%
	NUE	F	0.07%	0.04%	0.04%
	NVDA	D	2.49%	3.54%	2.49%
	NVR	B	0.11%	0.03%	0.03%
	NWSA	C	0.01%	0.01%	0.01%
	NXPI	D	0.03%	0.07%	0.03%
	O	A	0.05%	0.06%	0.05%
	ODFL	D	0.12%	0.04%	0.04%
	OKE	A	0.04%	0.06%	0.04%
	OMC	B	0.07%	0.02%	0.02%
	ON	D	0.03%	0.04%	0.03%
	ORCL	A	0.41%	0.25%	0.25%
	ORLY	B	0.25%	0.08%	0.08%
	OTIS	D	0.04%	0.04%	0.04%
	OXY	F	0.12%	0.04%	0.04%
	PANW	B	0.29%	0.13%	0.13%
	PARA	F	0.03%	0.01%	0.01%
	PAYC	D	0.02%	0.01%	0.01%
	PAYX	B	0.15%	0.05%	0.05%
	PCAR	D	0.05%	0.06%	0.05%
	PCG	A	0.05%	0.05%	0.05%
	PEG	B	0.04%	0.05%	0.04%
	PEP	A	1.13%	0.27%	0.27%
	PFE	D	0.39%	0.19%	0.19%
	PFG	D	0.03%	0.02%	0.02%
	PG	A	0.61%	0.46%	0.46%
	PGR	A	0.64%	0.17%	0.17%
	PH	B	0.03%	0.09%	0.03%
	PHM	B	0.11%	0.03%	0.03%
	PKG	B	0.08%	0.02%	0.02%
	PLD	B	0.09%	0.13%	0.09%
	PM	A	0.11%	0.22%	0.11%
	PNC	B	0.15%	0.08%	0.08%
	PNR	B	0.01%	0.02%	0.01%
	PODD	A	0.0%	0.02%	0.0%
	POOL	C	0.04%	0.02%	0.02%
	PPG	D	0.03%	0.03%	0.03%
	PPL	A	0.03%	0.03%	0.03%
	PRU	C	0.08%	0.05%	0.05%
	PSA	A	0.15%	0.06%	0.06%
	PSX	D	0.15%	0.07%	0.07%
	PTC	D	0.17%	0.02%	0.02%
	PWR	C	0.02%	0.04%	0.02%
	PYPL	B	0.06%	0.08%	0.06%
	QCOM	F	0.6%	0.22%	0.22%
	QRVO	D	0.02%	0.01%	0.01%
	RCL	C	0.01%	0.05%	0.01%
	REG	A	0.01%	0.01%	0.01%
	REGN	B	0.41%	0.15%	0.15%
	RF	B	0.05%	0.02%	0.02%
	RJF	D	0.03%	0.03%	0.03%
	RMD	A	0.1%	0.04%	0.04%
	ROK	D	0.1%	0.03%	0.03%
	ROL	B	0.17%	0.02%	0.02%
	ROP	C	0.47%	0.07%	0.07%
	ROST	B	0.03%	0.06%	0.03%
	RSG	B	0.55%	0.05%	0.05%
	RTX	B	0.19%	0.18%	0.18%
	SBAC	A	0.01%	0.03%	0.01%
	SBUX	B	0.06%	0.12%	0.06%
	SCHW	D	0.06%	0.11%	0.06%
	SHW	B	0.25%	0.1%	0.1%
	SJM	A	0.02%	0.01%	0.01%
	SLB	F	0.05%	0.07%	0.05%
	SMCI	F	0.06%	0.03%	0.03%
	SNA	D	0.05%	0.02%	0.02%
	SNPS	D	0.28%	0.09%	0.09%
	SO	A	0.54%	0.11%	0.11%
	SOLV	B	0.05%	0.01%	0.01%
	SPG	B	0.03%	0.06%	0.03%
	SPGI	A	0.07%	0.19%	0.07%
	SRE	B	0.06%	0.06%	0.06%
	STE	A	0.01%	0.03%	0.01%
	STLD	D	0.04%	0.02%	0.02%
	STT	B	0.05%	0.03%	0.03%
	STX	D	0.07%	0.02%	0.02%
	STZ	B	0.02%	0.04%	0.02%
	SW	D	0.03%	0.03%	0.03%
	SWK	B	0.03%	0.02%	0.02%
	SWKS	D	0.06%	0.02%	0.02%
	SYF	C	0.05%	0.02%	0.02%
	SYK	A	0.05%	0.14%	0.05%
	SYY	A	0.05%	0.04%	0.04%
	T	A	0.62%	0.16%	0.16%
	TAP	C	0.02%	0.01%	0.01%
	TDG	B	0.01%	0.09%	0.01%
	TDY	B	0.2%	0.02%	0.02%
	TECH	D	0.0%	0.01%	0.0%
	TEL	C	0.18%	0.05%	0.05%
	TER	D	0.06%	0.02%	0.02%
	TFC	B	0.15%	0.07%	0.07%
	TFX	A	0.01%	0.01%	0.01%
	TGT	B	0.11%	0.08%	0.08%
	TJX	B	0.57%	0.15%	0.15%
	TMO	A	0.13%	0.27%	0.13%
	TMUS	B	0.68%	0.12%	0.12%
	TRGP	A	0.02%	0.04%	0.02%
	TRMB	D	0.01%	0.02%	0.01%
	TROW	D	0.09%	0.03%	0.03%
	TRV	A	0.41%	0.06%	0.06%
	TSCO	B	0.09%	0.03%	0.03%
	TSLA	D	0.18%	0.65%	0.18%
	TSN	A	0.31%	0.02%	0.02%
	TT	B	0.23%	0.09%	0.09%
	TTWO	B	0.01%	0.03%	0.01%
	TXN	C	1.11%	0.22%	0.22%
	TXT	D	0.02%	0.02%	0.02%
	TYL	A	0.01%	0.03%	0.01%
	UBER	B	0.18%	0.17%	0.17%
	UDR	B	0.01%	0.02%	0.01%
	UHS	B	0.02%	0.02%	0.02%
	ULTA	D	0.08%	0.02%	0.02%
	UNH	A	2.25%	0.62%	0.62%
	UNP	B	0.09%	0.18%	0.09%
	UPS	F	0.11%	0.11%	0.11%
	URI	C	0.04%	0.06%	0.04%
	USB	B	0.15%	0.08%	0.08%
	V	A	1.69%	0.49%	0.49%
	VICI	A	0.04%	0.04%	0.04%
	VLO	D	0.15%	0.05%	0.05%
	VLTO	B	0.09%	0.03%	0.03%
	VMC	D	0.02%	0.04%	0.02%
	VRSK	C	0.15%	0.04%	0.04%
	VRSN	C	0.23%	0.02%	0.02%
	VRTX	D	0.62%	0.14%	0.14%
	VST	C	0.01%	0.03%	0.01%
	VTR	A	0.02%	0.03%	0.02%
	VTRS	C	0.05%	0.02%	0.02%
	VZ	B	0.82%	0.2%	0.2%
	WAB	B	0.02%	0.03%	0.02%
	WAT	B	0.06%	0.02%	0.02%
	WBA	F	0.07%	0.01%	0.01%
	WBD	D	0.1%	0.02%	0.02%
	WDC	D	0.02%	0.02%	0.02%
	WEC	A	0.28%	0.03%	0.03%
	WELL	A	0.03%	0.08%	0.03%
	WFC	D	0.39%	0.23%	0.23%
	WM	D	0.51%	0.09%	0.09%
	WMB	B	0.12%	0.06%	0.06%
	WMT	A	0.87%	0.37%	0.37%
	WRB	B	0.12%	0.02%	0.02%
	WST	D	0.06%	0.02%	0.02%
	WTW	A	0.15%	0.03%	0.03%
	WY	C	0.03%	0.03%	0.03%
	WYNN	D	0.0%	0.01%	0.0%
	XEL	A	0.18%	0.04%	0.04%
	XOM	C	0.81%	0.6%	0.6%
	XYL	D	0.02%	0.04%	0.02%
	YUM	B	0.19%	0.04%	0.04%
	ZBH	D	0.02%	0.03%	0.02%
	ZBRA	C	0.01%	0.02%	0.01%
	ZTS	A	0.26%	0.1%	0.1%

QUS Overweight 107 Positions Relative to PHDG

	Symbol	Grade	Weight
	WCN	B	0.55%
	FCNCA	C	0.31%
	ERIE	A	0.21%
	BAH	B	0.21%
	WDAY	C	0.16%
	AFG	A	0.15%
	MKL	C	0.14%
	BMRN	D	0.12%
	NBIX	D	0.12%
	UTHR	B	0.1%
	ALNY	C	0.09%
	MELI	B	0.08%
	VEEV	A	0.08%
	MANH	B	0.07%
	TPL	C	0.06%
	EME	C	0.06%
	WSM	D	0.06%
	HUBS	F	0.06%
	TW	B	0.06%
	LNG	B	0.05%
	DELL	F	0.05%
	WSO	D	0.05%
	LPLA	D	0.05%
	KNX	D	0.04%
	GGG	D	0.04%
	SEIC	D	0.03%
	CHK	F	0.03%
	DINO	F	0.03%
	TTC	D	0.03%
	ACI	D	0.03%
	OVV	F	0.03%
	ALLY	C	0.03%
	ACM	B	0.02%
	CCK	A	0.02%
	MRVL	D	0.02%
	AVTR	B	0.02%
	SSNC	B	0.02%
	CHRD	F	0.02%
	DKS	C	0.02%
	OC	D	0.02%
	EQH	C	0.02%
	APO	D	0.02%
	PCTY	C	0.02%
	CRBG	C	0.02%
	LSCC	F	0.02%
	SQ	D	0.02%
	CLF	F	0.02%
	FNF	B	0.02%
	CNH	C	0.02%
	RS	D	0.02%
	VRT	F	0.01%
	RIVN	F	0.01%
	Z	B	0.01%
	OKTA	F	0.01%
	ENTG	D	0.01%
	LII	C	0.01%
	DASH	B	0.01%
	ARES	C	0.01%
	TWLO	D	0.01%
	COIN	F	0.01%
	GLPI	A	0.01%
	AMH	A	0.01%
	UHAL	B	0.01%
	WLK	D	0.01%
	RPM	A	0.01%
	ZM	B	0.01%
	RPRX	B	0.01%
	CSL	C	0.01%
	WTRG	D	0.01%
	ILMN	B	0.01%
	SUI	A	0.01%
	CG	D	0.01%
	TRU	B	0.01%
	WPC	A	0.01%
	BURL	B	0.01%
	MDB	C	0.0%
	CELH	F	0.0%
	IOT	A	0.0%
	TEAM	F	0.0%
	CFLT	F	0.0%
	ZS	F	0.0%
	PATH	D	0.0%
	NET	F	0.0%
	U	D	0.0%
	TOST	D	0.0%
	DOCU	A	0.0%
	RBLX	B	0.0%
	H	C	0.0%
	DT	A	0.0%
	DKNG	D	0.0%
	RGEN	C	0.0%
	MSTR	F	0.0%
	DDOG	D	0.0%
	SNAP	F	0.0%
	ROKU	C	0.0%
	BSY	D	0.0%
	SNOW	F	0.0%
	PSTG	F	0.0%
	EXAS	B	0.0%
	HEI	B	0.0%
	HOOD	D	0.0%
	PLTR	B	0.0%
	PINS	F	0.0%
	HEI	B	0.0%
	ELS	A	0.0%
	TTD	B	0.0%
	APP	B	0.0%

QUS 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%
	BWA	D	-0.01%
	NCLH	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%

QUS: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Utilities - Regulated Electric Semiconductors Asset Management Business Services Software - Infrastructure Diagnostics & Research Oil & Gas E&P Specialty Retail Biotechnology Capital Markets Aerospace & Defense Banks - Regional - US 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 Cloud Computing Semiconductor Banking Mining IBD 50 Insurance Products

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