SPY vs. PHEQ ETF Comparison

Comparison of SPDR S&P 500 (SPY) to Parametric Hedged Equity ETF (PHEQ)

SPY

SPDR S&P 500

SPY Description

The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust holds the Portfolio and cash and is not actively "managed" by traditional methods. To maintain the correspondence between the composition and weightings of Portfolio Securities and component stocks of the S&P 500 Index, the Trustee adjusts the Portfolio from time to time to conform to periodic changes in the identity and/or relative weightings of Index Securities.

Grade (RS Rating)

Last Trade

$595.51

Average Daily Volume

43,227,909

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

PHEQ

Parametric Hedged Equity ETF

PHEQ Description

The fund seeks to provide capital appreciation by investing its net assets in equity securities of certain U.S. large capitalization companies that are constituents of the Solactive GBS US 500 at the time of purchase.

Grade (RS Rating)

Last Trade

$29.49

Average Daily Volume

19,326

Number of Holdings ^*

203

* may have additional holdings in another (foreign) market

Performance

Period	SPY	PHEQ
30 Days	3.03%	1.99%
60 Days	4.54%	3.02%
90 Days	6.26%	3.86%
12 Months	32.65%	16.61%

148 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in PHEQ	Overlap
AAPL	C	6.89%	6.85%	6.85%
ABBV	D	0.6%	0.85%	0.6%
ABNB	C	0.12%	0.15%	0.12%
ABT	B	0.4%	0.6%	0.4%
ADBE	C	0.47%	0.48%	0.47%
AEE	A	0.05%	0.3%	0.05%
AKAM	D	0.03%	0.16%	0.03%
ALGN	D	0.03%	0.06%	0.03%
AMCR	D	0.03%	0.21%	0.03%
AMD	F	0.45%	0.51%	0.45%
AME	A	0.09%	0.28%	0.09%
AMGN	D	0.32%	0.45%	0.32%
AMZN	C	3.92%	4.1%	3.92%
APTV	D	0.03%	0.14%	0.03%
ARE	D	0.03%	0.21%	0.03%
AVB	B	0.06%	0.35%	0.06%
AVGO	D	1.58%	1.71%	1.58%
AXP	A	0.32%	0.57%	0.32%
BA	F	0.2%	0.32%	0.2%
BAC	A	0.62%	0.98%	0.62%
BKNG	A	0.33%	0.39%	0.33%
BLDR	D	0.04%	0.08%	0.04%
BMY	B	0.24%	0.48%	0.24%
BRK.A	B	1.7%	1.42%	1.42%
BRO	B	0.05%	0.31%	0.05%
CAG	D	0.03%	0.17%	0.03%
CAT	B	0.37%	0.55%	0.37%
CE	F	0.02%	0.05%	0.02%
CFG	B	0.04%	0.26%	0.04%
CMS	C	0.04%	0.31%	0.04%
CNP	B	0.04%	0.28%	0.04%
COR	B	0.08%	0.3%	0.08%
COST	B	0.81%	1.07%	0.81%
CPB	D	0.02%	0.18%	0.02%
CRM	B	0.64%	0.63%	0.63%
CRWD	B	0.16%	0.17%	0.16%
CSCO	B	0.46%	0.79%	0.46%
CTAS	B	0.15%	0.42%	0.15%
CVX	A	0.55%	0.84%	0.55%
DAL	C	0.08%	0.39%	0.08%
DE	A	0.2%	0.44%	0.2%
DELL	C	0.08%	0.14%	0.08%
DIS	B	0.39%	0.57%	0.39%
DOC	D	0.03%	0.29%	0.03%
DOV	A	0.06%	0.33%	0.06%
DRI	B	0.04%	0.3%	0.04%
DTE	C	0.05%	0.31%	0.05%
DVN	F	0.05%	0.17%	0.05%
ENPH	F	0.02%	0.03%	0.02%
EQR	B	0.05%	0.32%	0.05%
ESS	B	0.04%	0.19%	0.04%
ETR	B	0.06%	0.4%	0.06%
EXPD	D	0.03%	0.23%	0.03%
EXR	D	0.07%	0.32%	0.07%
FANG	D	0.07%	0.24%	0.07%
FE	C	0.04%	0.24%	0.04%
GLW	B	0.07%	0.25%	0.07%
GOOG	C	1.69%	1.9%	1.69%
GOOGL	C	2.04%	2.28%	2.04%
HAL	C	0.05%	0.16%	0.05%
HBAN	A	0.05%	0.31%	0.05%
HD	A	0.8%	1.15%	0.8%
HIG	B	0.07%	0.33%	0.07%
HUBB	B	0.05%	0.13%	0.05%
HWM	A	0.09%	0.36%	0.09%
IBM	C	0.38%	0.56%	0.38%
IFF	D	0.05%	0.16%	0.05%
ISRG	A	0.38%	0.58%	0.38%
JBHT	C	0.03%	0.24%	0.03%
JNJ	D	0.73%	1.04%	0.73%
JPM	A	1.37%	1.73%	1.37%
K	A	0.04%	0.34%	0.04%
KKR	A	0.2%	0.46%	0.2%
KLAC	D	0.17%	0.34%	0.17%
KMB	D	0.09%	0.33%	0.09%
KO	D	0.48%	0.77%	0.48%
L	A	0.03%	0.24%	0.03%
LH	C	0.04%	0.31%	0.04%
LIN	D	0.43%	0.67%	0.43%
LLY	F	1.23%	1.39%	1.23%
LMT	D	0.23%	0.58%	0.23%
LNT	A	0.03%	0.33%	0.03%
LOW	D	0.31%	0.57%	0.31%
LRCX	F	0.19%	0.29%	0.19%
LULU	C	0.08%	0.21%	0.08%
LYB	F	0.04%	0.22%	0.04%
MA	C	0.85%	1.14%	0.85%
MAA	B	0.04%	0.27%	0.04%
MDT	D	0.22%	0.51%	0.22%
META	D	2.5%	2.66%	2.5%
MGM	D	0.02%	0.13%	0.02%
MMM	D	0.14%	0.44%	0.14%
MOH	F	0.04%	0.14%	0.04%
MRK	F	0.5%	0.69%	0.5%
MRNA	F	0.03%	0.01%	0.01%
MRO	B	0.03%	0.24%	0.03%
MS	A	0.33%	0.39%	0.33%
MSFT	F	6.3%	6.55%	6.3%
MU	D	0.22%	0.31%	0.22%
NDAQ	A	0.06%	0.24%	0.06%
NDSN	B	0.03%	0.14%	0.03%
NEM	D	0.09%	0.23%	0.09%
NFLX	A	0.71%	0.8%	0.71%
NOW	A	0.43%	0.61%	0.43%
NVDA	C	7.17%	7.12%	7.12%
ON	D	0.06%	0.14%	0.06%
ORCL	B	0.59%	0.73%	0.59%
OTIS	C	0.08%	0.33%	0.08%
PANW	C	0.25%	0.3%	0.25%
PEP	F	0.45%	0.72%	0.45%
PFG	D	0.04%	0.2%	0.04%
PG	A	0.78%	1.09%	0.78%
PHM	D	0.05%	0.3%	0.05%
PLTR	B	0.24%	0.36%	0.24%
PPG	F	0.06%	0.18%	0.06%
PPL	B	0.05%	0.34%	0.05%
PRU	A	0.09%	0.37%	0.09%
PYPL	B	0.17%	0.28%	0.17%
QCOM	F	0.36%	0.33%	0.33%
REGN	F	0.16%	0.21%	0.16%
RMD	C	0.07%	0.24%	0.07%
ROST	C	0.09%	0.32%	0.09%
RSG	A	0.08%	0.34%	0.08%
SCHW	B	0.24%	0.35%	0.24%
STLD	B	0.04%	0.11%	0.04%
SYF	B	0.05%	0.27%	0.05%
T	A	0.32%	0.68%	0.32%
TMO	F	0.4%	0.59%	0.4%
TMUS	B	0.23%	0.51%	0.23%
TRGP	B	0.08%	0.46%	0.08%
TRV	B	0.12%	0.39%	0.12%
TSLA	B	1.72%	1.91%	1.72%
TXN	C	0.37%	0.59%	0.37%
UBER	D	0.3%	0.29%	0.29%
ULTA	F	0.04%	0.23%	0.04%
UNH	C	1.09%	1.37%	1.09%
UNP	C	0.28%	0.52%	0.28%
URI	B	0.11%	0.24%	0.11%
V	A	1.02%	1.28%	1.02%
VRTX	F	0.25%	0.36%	0.25%
WBD	C	0.04%	0.18%	0.04%
WFC	A	0.49%	0.67%	0.49%
WM	A	0.16%	0.44%	0.16%
WMT	A	0.73%	0.96%	0.73%
WRB	A	0.04%	0.21%	0.04%
XOM	B	1.06%	1.4%	1.06%
YUM	B	0.08%	0.33%	0.08%
ZBH	C	0.04%	0.14%	0.04%

SPY Overweight 351 Positions Relative to PHEQ

Symbol	Grade	Weight
ACN	C	0.45%
MCD	D	0.43%
PM	B	0.4%
INTU	C	0.39%
GE	D	0.38%
GS	A	0.37%
VZ	C	0.34%
CMCSA	B	0.33%
SPGI	C	0.32%
DHR	F	0.31%
AMAT	F	0.31%
NEE	D	0.31%
RTX	C	0.31%
HON	B	0.3%
PGR	A	0.3%
ETN	A	0.29%
BLK	C	0.29%
PFE	D	0.29%
TJX	A	0.27%
BSX	B	0.26%
C	A	0.26%
BX	A	0.26%
COP	C	0.26%
SYK	C	0.26%
FI	A	0.24%
ADP	B	0.24%
GILD	C	0.23%
MMC	B	0.22%
SBUX	A	0.22%
ADI	D	0.21%
PLD	D	0.21%
INTC	D	0.21%
CB	C	0.21%
ANET	C	0.2%
ELV	F	0.19%
MO	A	0.19%
SO	D	0.19%
UPS	C	0.19%
GEV	B	0.18%
PH	A	0.18%
ICE	C	0.18%
SHW	A	0.18%
CI	F	0.18%
NKE	D	0.18%
AMT	D	0.18%
TT	A	0.18%
SNPS	B	0.17%
EQIX	A	0.17%
DUK	C	0.17%
APH	A	0.17%
MDLZ	F	0.17%
USB	A	0.16%
MCK	B	0.16%
ZTS	D	0.16%
CME	A	0.16%
AON	A	0.16%
CMG	B	0.16%
MSI	B	0.16%
PNC	B	0.16%
CDNS	B	0.16%
EMR	A	0.15%
CL	D	0.15%
GD	F	0.15%
MCO	B	0.15%
EOG	A	0.15%
WELL	A	0.15%
NOC	D	0.14%
CSX	B	0.14%
CVS	D	0.14%
COF	B	0.14%
APD	A	0.14%
CEG	D	0.14%
ORLY	B	0.14%
TGT	F	0.14%
TDG	D	0.14%
ITW	B	0.14%
CARR	D	0.13%
OKE	A	0.13%
HCA	F	0.13%
AJG	B	0.13%
GM	B	0.13%
BDX	F	0.13%
FDX	B	0.13%
MAR	B	0.13%
ADSK	A	0.13%
WMB	A	0.13%
NSC	B	0.12%
FTNT	C	0.12%
PCAR	B	0.12%
ROP	B	0.12%
HLT	A	0.12%
SLB	C	0.12%
TFC	A	0.12%
FCX	D	0.12%
ECL	D	0.12%
MPC	D	0.11%
AZO	C	0.11%
PSX	C	0.11%
SPG	B	0.11%
DLR	B	0.11%
AMP	A	0.11%
RCL	A	0.11%
AFL	B	0.11%
FICO	B	0.11%
JCI	C	0.11%
NXPI	D	0.11%
BK	A	0.11%
SRE	A	0.11%
DHI	D	0.1%
FIS	C	0.1%
MET	A	0.1%
AIG	B	0.1%
O	D	0.1%
CMI	A	0.1%
AEP	D	0.1%
CPRT	A	0.1%
KMI	A	0.1%
ALL	A	0.1%
GWW	B	0.1%
PSA	D	0.1%
BKR	B	0.09%
F	C	0.09%
PEG	A	0.09%
AXON	A	0.09%
DFS	B	0.09%
CCI	D	0.09%
VLO	C	0.09%
PCG	A	0.09%
KVUE	A	0.09%
PAYX	C	0.09%
FAST	B	0.09%
LHX	C	0.09%
D	C	0.09%
VST	B	0.09%
MSCI	C	0.09%
PWR	A	0.09%
GEHC	F	0.08%
STZ	D	0.08%
A	D	0.08%
EXC	C	0.08%
CHTR	C	0.08%
XEL	A	0.08%
KR	B	0.08%
EA	A	0.08%
MNST	C	0.08%
CTVA	C	0.08%
CBRE	B	0.08%
EW	C	0.08%
CTSH	B	0.08%
HES	B	0.08%
VRSK	A	0.08%
LEN	D	0.08%
IT	C	0.08%
IR	B	0.08%
ODFL	B	0.08%
VICI	C	0.07%
ED	D	0.07%
IRM	D	0.07%
HUM	C	0.07%
OXY	D	0.07%
WAB	B	0.07%
DD	D	0.07%
NUE	C	0.07%
IDXX	F	0.07%
IQV	D	0.07%
MCHP	D	0.07%
MTB	A	0.07%
HPQ	B	0.07%
MLM	B	0.07%
GIS	D	0.07%
SYY	B	0.07%
VMC	B	0.07%
ACGL	D	0.07%
KDP	D	0.07%
HPE	B	0.06%
KHC	F	0.06%
STT	A	0.06%
MPWR	F	0.06%
NVR	D	0.06%
XYL	D	0.06%
GPN	B	0.06%
CAH	B	0.06%
TTWO	A	0.06%
RJF	A	0.06%
ANSS	B	0.06%
TSCO	D	0.06%
DXCM	D	0.06%
UAL	A	0.06%
WEC	A	0.06%
EBAY	D	0.06%
CSGP	D	0.06%
CNC	D	0.06%
DOW	F	0.06%
EIX	B	0.06%
WTW	B	0.06%
FITB	A	0.06%
EFX	F	0.06%
ROK	B	0.06%
GRMN	B	0.06%
EXPE	B	0.05%
PTC	A	0.05%
CINF	A	0.05%
SBAC	D	0.05%
BIIB	F	0.05%
RF	A	0.05%
CDW	F	0.05%
NTAP	C	0.05%
WST	C	0.05%
CCL	B	0.05%
SW	A	0.05%
ADM	D	0.05%
EQT	B	0.05%
VLTO	D	0.05%
CPAY	A	0.05%
AWK	D	0.05%
GDDY	A	0.05%
MTD	D	0.05%
TYL	B	0.05%
VTR	C	0.05%
CHD	B	0.05%
HSY	F	0.05%
FTV	C	0.05%
BR	A	0.05%
TROW	B	0.05%
KEYS	A	0.05%
DECK	A	0.05%
J	F	0.04%
KEY	B	0.04%
BBY	D	0.04%
HOLX	D	0.04%
TSN	B	0.04%
PODD	C	0.04%
CTRA	B	0.04%
BALL	D	0.04%
FDS	B	0.04%
SNA	A	0.04%
MKC	D	0.04%
NRG	B	0.04%
INVH	D	0.04%
LUV	C	0.04%
IP	B	0.04%
LYV	A	0.04%
ZBRA	B	0.04%
STX	D	0.04%
CLX	B	0.04%
OMC	C	0.04%
WDC	D	0.04%
CBOE	B	0.04%
FSLR	F	0.04%
PKG	A	0.04%
NTRS	A	0.04%
STE	F	0.04%
ES	D	0.04%
TDY	B	0.04%
WAT	B	0.04%
ATO	A	0.04%
WY	D	0.04%
LDOS	C	0.04%
JNPR	F	0.03%
CPT	B	0.03%
CHRW	C	0.03%
SWK	D	0.03%
DLTR	F	0.03%
TPR	B	0.03%
UDR	B	0.03%
SWKS	F	0.03%
POOL	C	0.03%
EPAM	C	0.03%
ROL	B	0.03%
FFIV	B	0.03%
RVTY	F	0.03%
EVRG	A	0.03%
JBL	B	0.03%
VTRS	A	0.03%
EL	F	0.03%
DPZ	C	0.03%
VRSN	F	0.03%
CF	B	0.03%
EG	C	0.03%
AVY	D	0.03%
TXT	D	0.03%
NI	A	0.03%
BAX	D	0.03%
GEN	B	0.03%
KIM	A	0.03%
DG	F	0.03%
LVS	C	0.03%
GPC	D	0.03%
TRMB	B	0.03%
MAS	D	0.03%
IEX	B	0.03%
TER	D	0.03%
DGX	A	0.03%
PNR	A	0.03%
HII	D	0.02%
BWA	D	0.02%
IVZ	B	0.02%
MTCH	D	0.02%
HAS	D	0.02%
APA	D	0.02%
MOS	F	0.02%
CZR	F	0.02%
HSIC	B	0.02%
RL	B	0.02%
FRT	B	0.02%
WYNN	D	0.02%
AOS	F	0.02%
HRL	D	0.02%
TFX	F	0.02%
SMCI	F	0.02%
SOLV	C	0.02%
GL	B	0.02%
AES	F	0.02%
MKTX	D	0.02%
ERIE	D	0.02%
CRL	C	0.02%
LKQ	D	0.02%
PNW	B	0.02%
CTLT	B	0.02%
FOXA	B	0.02%
PAYC	B	0.02%
IPG	D	0.02%
NWSA	B	0.02%
TAP	C	0.02%
AIZ	A	0.02%
GNRC	B	0.02%
TECH	D	0.02%
BXP	D	0.02%
LW	C	0.02%
NCLH	B	0.02%
EMN	D	0.02%
SJM	D	0.02%
UHS	D	0.02%
ALB	C	0.02%
REG	B	0.02%
DAY	B	0.02%
KMX	B	0.02%
HST	C	0.02%
ALLE	D	0.02%
INCY	C	0.02%
BG	F	0.02%
JKHY	D	0.02%
NWS	B	0.01%
FOX	A	0.01%
QRVO	F	0.01%
WBA	F	0.01%
BEN	C	0.01%
PARA	C	0.01%
FMC	D	0.01%
DVA	B	0.01%
MHK	D	0.01%

SPY Underweight 55 Positions Relative to PHEQ

Symbol	Grade	Weight
APO	B	-0.3%
MRVL	B	-0.25%
MELI	D	-0.25%
LII	A	-0.25%
ARES	A	-0.25%
MKL	A	-0.23%
LNG	B	-0.22%
HEI	B	-0.22%
SSNC	B	-0.21%
MSTR	C	-0.2%
SPOT	B	-0.19%
TTD	B	-0.18%
ZM	B	-0.18%
CSL	C	-0.18%
HEI	B	-0.14%
HUBS	A	-0.14%
WDAY	B	-0.13%
DASH	A	-0.13%
DDOG	A	-0.13%
ALNY	D	-0.13%
FCNCA	A	-0.13%
SQ	B	-0.12%
RBLX	C	-0.12%
BAH	F	-0.12%
COIN	C	-0.12%
TW	A	-0.11%
IBKR	A	-0.11%
VRT	B	-0.1%
VEEV	C	-0.1%
SUI	D	-0.1%
DOX	D	-0.09%
TRU	D	-0.09%
ZS	C	-0.08%
NET	B	-0.07%
SCCO	F	-0.07%
AGR	B	-0.07%
YUMC	C	-0.07%
DKNG	B	-0.07%
SNOW	C	-0.06%
AVTR	F	-0.06%
TEAM	A	-0.06%
SNAP	C	-0.05%
LPLA	A	-0.05%
OWL	A	-0.05%
ILMN	D	-0.05%
OKTA	C	-0.04%
WLK	D	-0.04%
BSY	D	-0.04%
RPRX	D	-0.04%
CPNG	D	-0.03%
PINS	D	-0.03%
SIRI	C	-0.03%
RKT	F	-0.03%
WSM	B	-0.02%
WMG	C	-0.02%