VONE vs. PHDG ETF Comparison

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

VONE

Vanguard Russell 1000 ETF

VONE Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Index. The index is designed to measure the performance of large-capitalization stocks in the United States. The fund 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

$257.80

Average Daily Volume

62,136

Number of Holdings ^*

976

* 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

$37.73

Average Daily Volume

14,585

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

Performance

Period	VONE	PHDG
30 Days	1.19%	0.56%
60 Days	7.20%	0.60%
90 Days	3.81%	0.65%
12 Months	36.43%	23.76%

493 Overlapping Holdings

	Symbol	Grade	Weight in VONE	Weight in PHDG	Overlap
	A	B	0.08%	0.05%	0.05%
	AAPL	C	6.39%	3.97%	3.97%
	ABBV	A	0.67%	0.39%	0.39%
	ABNB	D	0.1%	0.07%	0.07%
	ABT	B	0.38%	0.23%	0.23%
	ACGL	A	0.08%	0.05%	0.05%
	ACN	B	0.41%	0.25%	0.25%
	ADBE	F	0.49%	0.26%	0.26%
	ADI	C	0.22%	0.13%	0.13%
	ADM	D	0.06%	0.03%	0.03%
	ADP	A	0.22%	0.13%	0.13%
	ADSK	B	0.11%	0.07%	0.07%
	AEE	A	0.04%	0.03%	0.03%
	AEP	C	0.1%	0.06%	0.06%
	AES	B	0.02%	0.02%	0.02%
	AFL	A	0.12%	0.06%	0.06%
	AIG	F	0.1%	0.05%	0.05%
	AIZ	A	0.02%	0.01%	0.01%
	AJG	D	0.12%	0.07%	0.07%
	AKAM	D	0.03%	0.02%	0.02%
	ALB	D	0.02%	0.01%	0.01%
	ALGN	D	0.03%	0.02%	0.02%
	ALL	B	0.1%	0.06%	0.06%
	ALLE	A	0.02%	0.01%	0.01%
	AMAT	B	0.31%	0.19%	0.19%
	AMCR	B	0.03%	0.02%	0.02%
	AMD	D	0.46%	0.31%	0.31%
	AME	D	0.08%	0.05%	0.05%
	AMGN	D	0.34%	0.2%	0.2%
	AMP	A	0.09%	0.05%	0.05%
	AMT	C	0.2%	0.12%	0.12%
	AMZN	C	3.18%	2.01%	2.01%
	ANET	A	0.17%	0.11%	0.11%
	ANSS	D	0.05%	0.03%	0.03%
	AON	A	0.13%	0.09%	0.09%
	AOS	B	0.02%	0.01%	0.01%
	APA	F	0.02%	0.01%	0.01%
	APD	C	0.12%	0.08%	0.08%
	APH	D	0.15%	0.09%	0.09%
	APTV	D	0.04%	0.02%	0.02%
	ARE	D	0.04%	0.02%	0.02%
	ATO	A	0.04%	0.02%	0.02%
	AVB	C	0.06%	0.04%	0.04%
	AVGO	C	1.42%	0.92%	0.92%
	AVY	C	0.03%	0.02%	0.02%
	AWK	B	0.05%	0.03%	0.03%
	AXON	A	0.05%	0.03%	0.03%
	AXP	A	0.28%	0.17%	0.17%
	AZO	D	0.11%	0.06%	0.06%
	BA	F	0.19%	0.1%	0.1%
	BAC	D	0.53%	0.3%	0.3%
	BALL	C	0.04%	0.02%	0.02%
	BAX	D	0.04%	0.02%	0.02%
	BBWI	F	0.01%	0.01%	0.01%
	BBY	B	0.04%	0.02%	0.02%
	BDX	B	0.13%	0.08%	0.08%
	BEN	F	0.01%	0.01%	0.01%
	BG	F	0.03%	0.02%	0.02%
	BIIB	F	0.06%	0.03%	0.03%
	BK	C	0.1%	0.06%	0.06%
	BKNG	C	0.26%	0.16%	0.16%
	BKR	B	0.07%	0.04%	0.04%
	BLDR	B	0.04%	0.03%	0.03%
	BLK	A	0.26%	0.15%	0.15%
	BMY	B	0.19%	0.12%	0.12%
	BR	B	0.05%	0.03%	0.03%
	BRK.A	C	1.67%	0.96%	0.96%
	BRO	A	0.05%	0.03%	0.03%
	BSX	A	0.23%	0.14%	0.14%
	BWA	B	0.02%	0.01%	0.01%
	BX	C	0.19%	0.13%	0.13%
	BXP	C	0.02%	0.01%	0.01%
	C	B	0.23%	0.14%	0.14%
	CAG	D	0.03%	0.02%	0.02%
	CAH	B	0.05%	0.03%	0.03%
	CARR	A	0.12%	0.08%	0.08%
	CAT	A	0.33%	0.22%	0.22%
	CB	A	0.22%	0.12%	0.12%
	CBOE	A	0.04%	0.02%	0.02%
	CBRE	A	0.07%	0.04%	0.04%
	CCI	C	0.09%	0.06%	0.06%
	CCL	C	0.03%	0.02%	0.02%
	CDNS	D	0.14%	0.09%	0.09%
	CDW	D	0.06%	0.04%	0.04%
	CE	D	0.03%	0.02%	0.02%
	CEG	B	0.12%	0.09%	0.09%
	CF	A	0.03%	0.02%	0.02%
	CFG	D	0.04%	0.02%	0.02%
	CHD	C	0.05%	0.03%	0.03%
	CHRW	A	0.02%	0.01%	0.01%
	CHTR	D	0.06%	0.04%	0.04%
	CI	D	0.19%	0.11%	0.11%
	CINF	A	0.04%	0.02%	0.02%
	CL	D	0.17%	0.1%	0.1%
	CLX	B	0.04%	0.02%	0.02%
	CMCSA	B	0.3%	0.18%	0.18%
	CMG	C	0.15%	0.09%	0.09%
	CMI	B	0.08%	0.05%	0.05%
	CMS	A	0.04%	0.02%	0.02%
	CNC	F	0.08%	0.05%	0.05%
	CNP	B	0.03%	0.02%	0.02%
	COF	C	0.11%	0.07%	0.07%
	COP	D	0.26%	0.14%	0.14%
	COST	C	0.76%	0.45%	0.45%
	CPAY	A	0.04%	0.03%	0.03%
	CPB	D	0.02%	0.01%	0.01%
	CPRT	B	0.09%	0.05%	0.05%
	CPT	C	0.02%	0.02%	0.02%
	CRL	F	0.02%	0.01%	0.01%
	CRM	B	0.46%	0.31%	0.31%
	CRWD	D	0.12%	0.08%	0.08%
	CSCO	A	0.39%	0.24%	0.24%
	CSGP	F	0.06%	0.04%	0.04%
	CSX	D	0.13%	0.08%	0.08%
	CTAS	B	0.13%	0.08%	0.08%
	CTLT	A	0.02%	0.01%	0.01%
	CTRA	D	0.03%	0.02%	0.02%
	CTSH	B	0.07%	0.04%	0.04%
	CTVA	A	0.08%	0.05%	0.05%
	CVS	D	0.14%	0.09%	0.09%
	CVX	B	0.49%	0.28%	0.28%
	CZR	B	0.02%	0.01%	0.01%
	D	A	0.09%	0.06%	0.06%
	DAL	C	0.05%	0.04%	0.04%
	DAY	B	0.02%	0.01%	0.01%
	DD	B	0.07%	0.04%	0.04%
	DE	A	0.19%	0.12%	0.12%
	DECK	B	0.05%	0.03%	0.03%
	DELL	C	0.06%	0.04%	0.04%
	DFS	C	0.07%	0.04%	0.04%
	DG	F	0.04%	0.02%	0.02%
	DGX	B	0.03%	0.02%	0.02%
	DHI	C	0.11%	0.06%	0.06%
	DHR	C	0.34%	0.2%	0.2%
	DIS	D	0.32%	0.2%	0.2%
	DLR	C	0.09%	0.06%	0.06%
	DLTR	F	0.03%	0.02%	0.02%
	DOC	C	0.03%	0.02%	0.02%
	DOV	C	0.05%	0.03%	0.03%
	DOW	B	0.07%	0.04%	0.04%
	DPZ	D	0.03%	0.02%	0.02%
	DRI	C	0.04%	0.02%	0.02%
	DTE	A	0.05%	0.03%	0.03%
	DUK	A	0.17%	0.1%	0.1%
	DVA	C	0.01%	0.01%	0.01%
	DVN	F	0.05%	0.03%	0.03%
	DXCM	F	0.05%	0.03%	0.03%
	EA	D	0.08%	0.04%	0.04%
	EBAY	A	0.06%	0.04%	0.04%
	ECL	B	0.12%	0.07%	0.07%
	ED	A	0.07%	0.04%	0.04%
	EFX	C	0.07%	0.04%	0.04%
	EG	B	0.03%	0.02%	0.02%
	EIX	A	0.06%	0.04%	0.04%
	EL	D	0.04%	0.03%	0.03%
	ELV	F	0.25%	0.14%	0.14%
	EMN	C	0.02%	0.02%	0.02%
	EMR	B	0.12%	0.07%	0.07%
	ENPH	D	0.03%	0.02%	0.02%
	EOG	B	0.14%	0.08%	0.08%
	EPAM	F	0.02%	0.01%	0.01%
	EQIX	B	0.15%	0.1%	0.1%
	EQR	C	0.05%	0.03%	0.03%
	EQT	B	0.04%	0.02%	0.02%
	ES	C	0.05%	0.03%	0.03%
	ESS	C	0.04%	0.02%	0.02%
	ETN	C	0.24%	0.15%	0.15%
	ETR	A	0.05%	0.03%	0.03%
	EVRG	C	0.03%	0.02%	0.02%
	EW	F	0.08%	0.05%	0.05%
	EXC	A	0.07%	0.05%	0.05%
	EXPD	C	0.03%	0.02%	0.02%
	EXPE	B	0.03%	0.02%	0.02%
	EXR	C	0.07%	0.04%	0.04%
	F	D	0.08%	0.05%	0.05%
	FANG	D	0.07%	0.04%	0.04%
	FAST	B	0.07%	0.05%	0.05%
	FCX	B	0.12%	0.08%	0.08%
	FDS	C	0.03%	0.02%	0.02%
	FDX	D	0.13%	0.07%	0.07%
	FE	B	0.05%	0.03%	0.03%
	FFIV	B	0.02%	0.01%	0.01%
	FI	A	0.2%	0.12%	0.12%
	FICO	A	0.08%	0.05%	0.05%
	FIS	C	0.09%	0.05%	0.05%
	FITB	C	0.06%	0.03%	0.03%
	FMC	B	0.02%	0.01%	0.01%
	FOX	A	0.01%	0.01%	0.01%
	FOXA	A	0.02%	0.01%	0.01%
	FRT	D	0.02%	0.01%	0.01%
	FSLR	C	0.05%	0.03%	0.03%
	FTNT	A	0.09%	0.06%	0.06%
	FTV	B	0.05%	0.03%	0.03%
	GD	A	0.16%	0.09%	0.09%
	GDDY	D	0.05%	0.03%	0.03%
	GE	C	0.36%	0.23%	0.23%
	GEHC	C	0.07%	0.04%	0.04%
	GEV	B	0.1%	0.08%	0.08%
	GILD	A	0.19%	0.12%	0.12%
	GIS	C	0.08%	0.05%	0.05%
	GL	C	0.02%	0.01%	0.01%
	GLW	B	0.06%	0.04%	0.04%
	GM	D	0.11%	0.06%	0.06%
	GNRC	B	0.02%	0.01%	0.01%
	GOOG	B	1.56%	0.91%	0.91%
	GOOGL	B	1.85%	1.1%	1.1%
	GPC	D	0.04%	0.02%	0.02%
	GPN	F	0.05%	0.03%	0.03%
	GRMN	D	0.05%	0.03%	0.03%
	GS	C	0.31%	0.18%	0.18%
	GWW	A	0.08%	0.05%	0.05%
	HAL	F	0.05%	0.03%	0.03%
	HAS	A	0.02%	0.01%	0.01%
	HBAN	D	0.04%	0.02%	0.02%
	HCA	B	0.15%	0.09%	0.09%
	HD	A	0.7%	0.45%	0.45%
	HES	D	0.07%	0.04%	0.04%
	HIG	A	0.07%	0.04%	0.04%
	HII	F	0.02%	0.01%	0.01%
	HLT	A	0.1%	0.07%	0.07%
	HOLX	D	0.04%	0.02%	0.02%
	HON	C	0.26%	0.16%	0.16%
	HPE	B	0.05%	0.03%	0.03%
	HPQ	C	0.07%	0.04%	0.04%
	HRL	F	0.02%	0.01%	0.01%
	HSIC	D	0.02%	0.01%	0.01%
	HST	D	0.02%	0.01%	0.01%
	HSY	D	0.05%	0.03%	0.03%
	HUBB	A	0.04%	0.03%	0.03%
	HUM	F	0.08%	0.04%	0.04%
	HWM	A	0.07%	0.04%	0.04%
	IBM	B	0.36%	0.23%	0.23%
	ICE	A	0.18%	0.1%	0.1%
	IDXX	D	0.08%	0.05%	0.05%
	IEX	D	0.03%	0.02%	0.02%
	IFF	C	0.05%	0.03%	0.03%
	INCY	B	0.02%	0.01%	0.01%
	INTC	D	0.18%	0.12%	0.12%
	INTU	F	0.33%	0.2%	0.2%
	INVH	D	0.04%	0.02%	0.02%
	IP	C	0.03%	0.02%	0.02%
	IPG	C	0.02%	0.01%	0.01%
	IQV	F	0.09%	0.05%	0.05%
	IR	A	0.07%	0.05%	0.05%
	IRM	A	0.06%	0.04%	0.04%
	ISRG	A	0.33%	0.2%	0.2%
	IT	C	0.07%	0.05%	0.05%
	ITW	A	0.14%	0.08%	0.08%
	IVZ	A	0.01%	0.01%	0.01%
	J	D	0.04%	0.02%	0.02%
	JBHT	D	0.03%	0.02%	0.02%
	JBL	D	0.02%	0.02%	0.02%
	JCI	B	0.1%	0.06%	0.06%
	JKHY	A	0.02%	0.01%	0.01%
	JNJ	D	0.77%	0.44%	0.44%
	JNPR	B	0.02%	0.01%	0.01%
	JPM	D	1.24%	0.68%	0.68%
	K	B	0.04%	0.02%	0.02%
	KDP	C	0.07%	0.04%	0.04%
	KEY	C	0.03%	0.02%	0.02%
	KEYS	B	0.05%	0.03%	0.03%
	KHC	D	0.06%	0.04%	0.04%
	KIM	C	0.03%	0.02%	0.02%
	KKR	A	0.16%	0.1%	0.1%
	KLAC	B	0.21%	0.12%	0.12%
	KMB	B	0.09%	0.06%	0.06%
	KMI	A	0.08%	0.05%	0.05%
	KMX	F	0.03%	0.01%	0.01%
	KO	C	0.54%	0.32%	0.32%
	KR	C	0.07%	0.04%	0.04%
	KVUE	C	0.08%	0.05%	0.05%
	L	D	0.03%	0.02%	0.02%
	LDOS	A	0.04%	0.02%	0.02%
	LEN	B	0.09%	0.05%	0.05%
	LEN	B	0.0%	0.05%	0.0%
	LHX	A	0.09%	0.05%	0.05%
	LIN	B	0.44%	0.26%	0.26%
	LKQ	F	0.02%	0.01%	0.01%
	LLY	D	1.57%	0.79%	0.79%
	LMT	A	0.23%	0.14%	0.14%
	LNT	A	0.03%	0.02%	0.02%
	LOW	A	0.27%	0.17%	0.17%
	LRCX	D	0.21%	0.12%	0.12%
	LULU	D	0.06%	0.04%	0.04%
	LUV	B	0.03%	0.02%	0.02%
	LVS	B	0.03%	0.02%	0.02%
	LW	D	0.02%	0.01%	0.01%
	LYB	D	0.05%	0.03%	0.03%
	LYV	A	0.03%	0.02%	0.02%
	MA	A	0.77%	0.47%	0.47%
	MAA	C	0.04%	0.02%	0.02%
	MAR	B	0.11%	0.07%	0.07%
	MAS	A	0.03%	0.02%	0.02%
	MCD	A	0.4%	0.25%	0.25%
	MCHP	F	0.08%	0.05%	0.05%
	MCK	F	0.14%	0.07%	0.07%
	MCO	D	0.15%	0.09%	0.09%
	MDLZ	C	0.18%	0.11%	0.11%
	MDT	B	0.23%	0.13%	0.13%
	MET	A	0.09%	0.06%	0.06%
	META	A	2.19%	1.42%	1.42%
	MGM	D	0.02%	0.01%	0.01%
	MHK	B	0.02%	0.01%	0.01%
	MKC	C	0.04%	0.02%	0.02%
	MKTX	C	0.02%	0.01%	0.01%
	MLM	D	0.06%	0.04%	0.04%
	MMC	D	0.22%	0.13%	0.13%
	MMM	C	0.14%	0.09%	0.09%
	MNST	D	0.07%	0.04%	0.04%
	MO	D	0.18%	0.1%	0.1%
	MOH	D	0.04%	0.02%	0.02%
	MOS	D	0.02%	0.01%	0.01%
	MPC	F	0.12%	0.06%	0.06%
	MPWR	B	0.08%	0.05%	0.05%
	MRK	F	0.58%	0.33%	0.33%
	MRNA	F	0.05%	0.03%	0.03%
	MRO	D	0.03%	0.02%	0.02%
	MS	B	0.23%	0.15%	0.15%
	MSCI	B	0.09%	0.05%	0.05%
	MSFT	D	5.96%	3.65%	3.65%
	MSI	A	0.14%	0.09%	0.09%
	MTB	C	0.05%	0.03%	0.03%
	MTCH	B	0.02%	0.01%	0.01%
	MTD	B	0.06%	0.04%	0.04%
	MU	D	0.2%	0.14%	0.14%
	NCLH	C	0.01%	0.01%	0.01%
	NDAQ	C	0.06%	0.03%	0.03%
	NDSN	B	0.03%	0.02%	0.02%
	NEE	A	0.32%	0.2%	0.2%
	NEM	C	0.12%	0.07%	0.07%
	NFLX	A	0.58%	0.35%	0.35%
	NI	A	0.03%	0.02%	0.02%
	NKE	D	0.19%	0.12%	0.12%
	NOC	B	0.14%	0.08%	0.08%
	NOW	C	0.34%	0.21%	0.21%
	NRG	A	0.04%	0.02%	0.02%
	NSC	C	0.11%	0.06%	0.06%
	NTAP	D	0.05%	0.03%	0.03%
	NTRS	C	0.04%	0.02%	0.02%
	NUE	D	0.07%	0.04%	0.04%
	NVDA	C	5.45%	3.42%	3.42%
	NVR	A	0.05%	0.03%	0.03%
	NWS	D	0.01%	0.0%	0.0%
	NWSA	D	0.02%	0.01%	0.01%
	O	A	0.1%	0.06%	0.06%
	ODFL	D	0.07%	0.04%	0.04%
	OKE	B	0.1%	0.06%	0.06%
	OMC	C	0.04%	0.02%	0.02%
	ON	F	0.06%	0.04%	0.04%
	ORCL	B	0.43%	0.31%	0.31%
	ORLY	A	0.13%	0.08%	0.08%
	OTIS	A	0.07%	0.05%	0.05%
	OXY	F	0.07%	0.04%	0.04%
	PANW	D	0.21%	0.12%	0.12%
	PARA	F	0.01%	0.01%	0.01%
	PAYC	D	0.02%	0.01%	0.01%
	PAYX	A	0.08%	0.05%	0.05%
	PCAR	D	0.09%	0.06%	0.06%
	PCG	B	0.08%	0.05%	0.05%
	PEG	A	0.08%	0.05%	0.05%
	PEP	D	0.46%	0.27%	0.27%
	PFE	D	0.32%	0.19%	0.19%
	PFG	C	0.04%	0.02%	0.02%
	PG	C	0.78%	0.47%	0.47%
	PGR	C	0.28%	0.17%	0.17%
	PH	A	0.15%	0.09%	0.09%
	PHM	A	0.05%	0.03%	0.03%
	PKG	C	0.04%	0.02%	0.02%
	PLD	D	0.23%	0.13%	0.13%
	PLTR	A	0.12%	0.08%	0.08%
	PM	C	0.37%	0.22%	0.22%
	PNC	C	0.14%	0.08%	0.08%
	PNR	C	0.03%	0.02%	0.02%
	PNW	A	0.02%	0.01%	0.01%
	PODD	C	0.03%	0.02%	0.02%
	POOL	B	0.03%	0.02%	0.02%
	PPG	D	0.06%	0.04%	0.04%
	PPL	A	0.05%	0.03%	0.03%
	PRU	C	0.08%	0.05%	0.05%
	PSA	C	0.1%	0.07%	0.07%
	PSX	D	0.11%	0.06%	0.06%
	PTC	D	0.04%	0.03%	0.03%
	PWR	B	0.08%	0.05%	0.05%
	PYPL	C	0.15%	0.09%	0.09%
	QCOM	D	0.38%	0.22%	0.22%
	QRVO	F	0.02%	0.01%	0.01%
	RCL	C	0.07%	0.05%	0.05%
	REG	C	0.03%	0.01%	0.01%
	REGN	D	0.24%	0.13%	0.13%
	RF	C	0.04%	0.02%	0.02%
	RJF	B	0.04%	0.03%	0.03%
	RL	B	0.01%	0.01%	0.01%
	RMD	C	0.07%	0.04%	0.04%
	ROK	D	0.06%	0.04%	0.04%
	ROL	B	0.03%	0.02%	0.02%
	ROP	C	0.11%	0.07%	0.07%
	ROST	C	0.09%	0.06%	0.06%
	RSG	D	0.08%	0.05%	0.05%
	RTX	A	0.31%	0.18%	0.18%
	SBAC	B	0.05%	0.03%	0.03%
	SBUX	B	0.21%	0.13%	0.13%
	SCHW	D	0.19%	0.11%	0.11%
	SHW	B	0.17%	0.1%	0.1%
	SJM	C	0.02%	0.01%	0.01%
	SLB	D	0.12%	0.07%	0.07%
	SMCI	F	0.04%	0.02%	0.02%
	SNA	A	0.03%	0.02%	0.02%
	SNPS	F	0.15%	0.09%	0.09%
	SO	A	0.18%	0.11%	0.11%
	SOLV	C	0.02%	0.01%	0.01%
	SPG	A	0.1%	0.06%	0.06%
	SPGI	C	0.31%	0.19%	0.19%
	SRE	A	0.1%	0.06%	0.06%
	STE	D	0.05%	0.03%	0.03%
	STLD	B	0.03%	0.02%	0.02%
	STT	C	0.05%	0.03%	0.03%
	STZ	B	0.07%	0.05%	0.05%
	SW	C	0.02%	0.03%	0.02%
	SWK	A	0.03%	0.02%	0.02%
	SWKS	F	0.03%	0.02%	0.02%
	SYF	B	0.04%	0.02%	0.02%
	SYK	C	0.25%	0.14%	0.14%
	SYY	B	0.07%	0.04%	0.04%
	T	A	0.27%	0.18%	0.18%
	TAP	D	0.02%	0.01%	0.01%
	TDG	A	0.14%	0.09%	0.09%
	TDY	A	0.04%	0.02%	0.02%
	TECH	C	0.02%	0.01%	0.01%
	TER	C	0.04%	0.02%	0.02%
	TFC	D	0.11%	0.07%	0.07%
	TFX	C	0.02%	0.01%	0.01%
	TGT	C	0.14%	0.08%	0.08%
	TJX	C	0.26%	0.15%	0.15%
	TMO	C	0.45%	0.27%	0.27%
	TMUS	A	0.18%	0.11%	0.11%
	TPR	B	0.02%	0.01%	0.01%
	TRGP	B	0.06%	0.04%	0.04%
	TRMB	B	0.03%	0.02%	0.02%
	TROW	D	0.04%	0.03%	0.03%
	TRV	C	0.1%	0.06%	0.06%
	TSCO	A	0.06%	0.04%	0.04%
	TSLA	C	1.14%	0.83%	0.83%
	TSN	D	0.03%	0.02%	0.02%
	TT	A	0.16%	0.1%	0.1%
	TTWO	F	0.05%	0.03%	0.03%
	TXN	C	0.37%	0.22%	0.22%
	TXT	F	0.03%	0.02%	0.02%
	TYL	B	0.05%	0.03%	0.03%
	UAL	B	0.03%	0.02%	0.02%
	UBER	C	0.28%	0.18%	0.18%
	UDR	C	0.03%	0.02%	0.02%
	UHS	D	0.03%	0.02%	0.02%
	ULTA	D	0.03%	0.02%	0.02%
	UNH	B	1.04%	0.61%	0.61%
	UNP	D	0.3%	0.17%	0.17%
	UPS	D	0.18%	0.11%	0.11%
	URI	C	0.09%	0.06%	0.06%
	USB	C	0.14%	0.08%	0.08%
	V	C	0.84%	0.53%	0.53%
	VICI	C	0.07%	0.04%	0.04%
	VLO	F	0.09%	0.05%	0.05%
	VLTO	A	0.05%	0.03%	0.03%
	VMC	D	0.06%	0.04%	0.04%
	VRSK	D	0.07%	0.04%	0.04%
	VRSN	B	0.03%	0.02%	0.02%
	VRTX	D	0.25%	0.14%	0.14%
	VST	A	0.06%	0.04%	0.04%
	VTR	C	0.05%	0.03%	0.03%
	VTRS	D	0.03%	0.02%	0.02%
	VZ	A	0.34%	0.22%	0.22%
	WAB	A	0.06%	0.04%	0.04%
	WAT	B	0.04%	0.02%	0.02%
	WBA	F	0.01%	0.01%	0.01%
	WBD	D	0.04%	0.02%	0.02%
	WDC	C	0.04%	0.03%	0.03%
	WEC	A	0.06%	0.03%	0.03%
	WELL	C	0.14%	0.08%	0.08%
	WFC	D	0.39%	0.22%	0.22%
	WM	B	0.16%	0.09%	0.09%
	WMB	A	0.11%	0.06%	0.06%
	WMT	A	0.64%	0.4%	0.4%
	WRB	B	0.04%	0.02%	0.02%
	WST	D	0.04%	0.03%	0.03%
	WTW	B	0.06%	0.03%	0.03%
	WY	B	0.04%	0.03%	0.03%
	WYNN	B	0.02%	0.01%	0.01%
	XEL	A	0.07%	0.04%	0.04%
	XOM	A	1.02%	0.59%	0.59%
	XYL	C	0.06%	0.04%	0.04%
	YUM	A	0.07%	0.05%	0.05%
	ZBH	F	0.05%	0.03%	0.03%
	ZBRA	A	0.03%	0.02%	0.02%
	ZTS	C	0.16%	0.1%	0.1%

VONE Overweight 483 Positions Relative to PHDG

	Symbol	Grade	Weight
	MRVL	C	0.13%
	APO	A	0.12%
	WDAY	D	0.11%
	SPOT	B	0.1%
	DASH	A	0.09%
	TTD	C	0.09%
	NU	D	0.09%
	LNG	A	0.08%
	DDOG	D	0.07%
	COIN	F	0.07%
	SNOW	F	0.07%
	SQ	D	0.07%
	VRT	B	0.06%
	VEEV	C	0.06%
	ALNY	C	0.06%
	FCNCA	D	0.05%
	APP	A	0.05%
	HUBS	D	0.05%
	NET	D	0.05%
	CPNG	C	0.05%
	TEAM	D	0.05%
	ARES	A	0.05%
	EME	C	0.04%
	ZS	F	0.04%
	TRU	A	0.04%
	LII	C	0.04%
	PINS	D	0.04%
	MDB	F	0.04%
	CSL	A	0.04%
	BAH	A	0.04%
	MKL	C	0.04%
	MSTR	B	0.04%
	ILMN	B	0.04%
	RBLX	C	0.04%
	XPO	F	0.03%
	DT	C	0.03%
	RNR	A	0.03%
	CASY	D	0.03%
	IBKR	A	0.03%
	HOOD	C	0.03%
	NTRA	A	0.03%
	ACM	C	0.03%
	ELS	D	0.03%
	DKS	D	0.03%
	AMH	D	0.03%
	GLPI	A	0.03%
	USFD	C	0.03%
	TW	A	0.03%
	EQH	C	0.03%
	GGG	B	0.03%
	RGA	C	0.03%
	OC	C	0.03%
	RPM	A	0.03%
	PSTG	F	0.03%
	TOL	A	0.03%
	FNF	A	0.03%
	NTNX	C	0.03%
	DKNG	D	0.03%
	RBA	D	0.03%
	CVNA	A	0.03%
	UTHR	C	0.03%
	THC	C	0.03%
	MANH	C	0.03%
	SSNC	C	0.03%
	TPL	B	0.03%
	RS	D	0.03%
	HEI	A	0.03%
	WSO	C	0.03%
	SUI	D	0.03%
	LPLA	D	0.03%
	BURL	D	0.03%
	WSM	B	0.03%
	ZM	C	0.03%
	BMRN	F	0.03%
	ENTG	D	0.03%
	AVTR	D	0.03%
	OGE	A	0.02%
	AR	B	0.02%
	CRUS	D	0.02%
	ATI	B	0.02%
	ELF	F	0.02%
	BERY	C	0.02%
	CNM	F	0.02%
	WEX	C	0.02%
	MKSI	F	0.02%
	WBS	D	0.02%
	BFAM	C	0.02%
	LAD	C	0.02%
	AXTA	C	0.02%
	HLI	C	0.02%
	DINO	F	0.02%
	AA	B	0.02%
	FCN	C	0.02%
	APG	F	0.02%
	ACI	F	0.02%
	KNX	D	0.02%
	ALSN	A	0.02%
	BRX	C	0.02%
	GMED	D	0.02%
	SOFI	C	0.02%
	COLD	D	0.02%
	Z	C	0.02%
	CIEN	A	0.02%
	NNN	A	0.02%
	MORN	C	0.02%
	RGEN	F	0.02%
	X	F	0.02%
	GLOB	B	0.02%
	ROKU	C	0.02%
	RBC	C	0.02%
	DCI	B	0.02%
	NYT	A	0.02%
	TPX	C	0.02%
	CROX	C	0.02%
	WAL	C	0.02%
	INGR	A	0.02%
	CHE	C	0.02%
	EXP	C	0.02%
	HRB	C	0.02%
	SCCO	B	0.02%
	SF	A	0.02%
	EVR	C	0.02%
	OWL	A	0.02%
	CG	C	0.02%
	EGP	D	0.02%
	PRI	A	0.02%
	PR	F	0.02%
	ORI	B	0.02%
	MEDP	F	0.02%
	CNH	B	0.02%
	FHN	D	0.02%
	GPK	C	0.02%
	OLED	C	0.02%
	EHC	B	0.02%
	RGLD	C	0.02%
	CHRD	F	0.02%
	SNX	C	0.02%
	KBR	C	0.02%
	SKX	B	0.02%
	TKO	A	0.02%
	BWXT	A	0.02%
	ARMK	A	0.02%
	TTC	D	0.02%
	AFG	C	0.02%
	CHDN	D	0.02%
	WTRG	D	0.02%
	CHK	D	0.02%
	OHI	C	0.02%
	DOX	B	0.02%
	MUSA	D	0.02%
	WWD	B	0.02%
	LNW	F	0.02%
	ATR	A	0.02%
	SAIA	D	0.02%
	AFRM	C	0.02%
	QGEN	D	0.02%
	COHR	B	0.02%
	WMS	D	0.02%
	BJ	D	0.02%
	ONTO	B	0.02%
	UNM	A	0.02%
	CCK	C	0.02%
	CACI	A	0.02%
	LECO	D	0.02%
	JEF	A	0.02%
	KNSL	D	0.02%
	REXR	D	0.02%
	TWLO	B	0.02%
	LAMR	C	0.02%
	SCI	C	0.02%
	TOST	C	0.02%
	EXAS	C	0.02%
	RRX	C	0.02%
	NVT	D	0.02%
	HEI	A	0.02%
	TXRH	A	0.02%
	RPRX	B	0.02%
	ITT	B	0.02%
	WING	B	0.02%
	PFGC	A	0.02%
	OVV	F	0.02%
	EWBC	D	0.02%
	FTI	B	0.02%
	CUBE	C	0.02%
	RIVN	F	0.02%
	FND	C	0.02%
	CW	A	0.02%
	ALLY	F	0.02%
	JLL	B	0.02%
	GWRE	A	0.02%
	DOCU	B	0.02%
	OKTA	F	0.02%
	SRPT	F	0.02%
	FIX	A	0.02%
	BLD	C	0.02%
	NBIX	F	0.02%
	CLH	C	0.02%
	TTEK	B	0.02%
	WPC	C	0.02%
	RNG	F	0.01%
	COLM	B	0.01%
	AAP	F	0.01%
	RKT	C	0.01%
	AZTA	F	0.01%
	SPB	C	0.01%
	MPW	C	0.01%
	DV	F	0.01%
	PENN	D	0.01%
	TDC	D	0.01%
	CLVT	D	0.01%
	CWEN	C	0.01%
	BROS	F	0.01%
	BHF	F	0.01%
	SMG	A	0.01%
	CACC	F	0.01%
	CXT	F	0.01%
	ZG	C	0.01%
	NWL	D	0.01%
	CC	D	0.01%
	WEN	D	0.01%
	IRDM	B	0.01%
	ZI	F	0.01%
	NVST	D	0.01%
	FHB	D	0.01%
	TNL	B	0.01%
	AMED	D	0.01%
	PAG	D	0.01%
	PEGA	B	0.01%
	PK	D	0.01%
	NSA	C	0.01%
	HCP	B	0.01%
	HIW	C	0.01%
	MAN	D	0.01%
	YETI	B	0.01%
	COTY	F	0.01%
	EPR	C	0.01%
	LCID	D	0.01%
	HUN	B	0.01%
	CHH	B	0.01%
	DNB	D	0.01%
	CNXC	F	0.01%
	MSM	D	0.01%
	AMKR	F	0.01%
	GTES	C	0.01%
	DXC	D	0.01%
	RH	C	0.01%
	LSXMK	D	0.01%
	KMPR	D	0.01%
	MSGS	A	0.01%
	NEU	F	0.01%
	LITE	A	0.01%
	W	D	0.01%
	APLS	F	0.01%
	IAC	C	0.01%
	PRGO	F	0.01%
	CPRI	B	0.01%
	DLB	D	0.01%
	WU	D	0.01%
	BYD	C	0.01%
	LOPE	D	0.01%
	SPR	D	0.01%
	FIVE	D	0.01%
	TPG	B	0.01%
	AGO	B	0.01%
	LYFT	D	0.01%
	KRC	C	0.01%
	FLO	D	0.01%
	M	F	0.01%
	SLGN	C	0.01%
	PSN	A	0.01%
	CUZ	C	0.01%
	GAP	F	0.01%
	DOCS	A	0.01%
	PII	D	0.01%
	ASH	F	0.01%
	HOG	D	0.01%
	GFS	F	0.01%
	AN	C	0.01%
	ALK	B	0.01%
	WTM	D	0.01%
	RYN	C	0.01%
	OZK	F	0.01%
	EEFT	F	0.01%
	RARE	C	0.01%
	U	D	0.01%
	JHG	C	0.01%
	SLM	C	0.01%
	AVT	C	0.01%
	AL	D	0.01%
	PATH	D	0.01%
	AM	A	0.01%
	WLK	C	0.01%
	FOUR	B	0.01%
	IDA	C	0.01%
	MDU	C	0.01%
	SEE	C	0.01%
	MASI	B	0.01%
	COLB	C	0.01%
	UGI	C	0.01%
	APPF	C	0.01%
	CFLT	F	0.01%
	NXST	D	0.01%
	OLN	D	0.01%
	HXL	F	0.01%
	XRAY	D	0.01%
	WHR	B	0.01%
	THG	C	0.01%
	INSP	B	0.01%
	BC	D	0.01%
	AWI	A	0.01%
	THO	B	0.01%
	S	C	0.01%
	SON	D	0.01%
	VVV	D	0.01%
	VNT	F	0.01%
	KD	F	0.01%
	NFG	A	0.01%
	FNB	D	0.01%
	SRCL	B	0.01%
	OLLI	C	0.01%
	LNC	D	0.01%
	TKR	D	0.01%
	AMG	B	0.01%
	OMF	F	0.01%
	ST	F	0.01%
	GTLB	D	0.01%
	AGCO	D	0.01%
	PVH	F	0.01%
	BILL	D	0.01%
	VMI	B	0.01%
	GXO	D	0.01%
	POST	C	0.01%
	OGN	F	0.01%
	VNO	A	0.01%
	ESAB	C	0.01%
	ESI	B	0.01%
	MTSI	B	0.01%
	AXS	A	0.01%
	AZEK	C	0.01%
	CLF	D	0.01%
	CIVI	F	0.01%
	LPX	A	0.01%
	STWD	C	0.01%
	ESTC	F	0.01%
	R	C	0.01%
	WH	C	0.01%
	GME	F	0.01%
	VFC	B	0.01%
	PCOR	D	0.01%
	SMAR	A	0.01%
	DBX	B	0.01%
	RLI	A	0.01%
	FRPT	C	0.01%
	SN	B	0.01%
	RHI	D	0.01%
	ETSY	F	0.01%
	SITE	D	0.01%
	FAF	B	0.01%
	LSTR	D	0.01%
	PB	D	0.01%
	MAT	D	0.01%
	FLS	A	0.01%
	LSCC	D	0.01%
	AAON	A	0.01%
	DAR	F	0.01%
	BIO	B	0.01%
	CFR	D	0.01%
	LEA	F	0.01%
	H	C	0.01%
	RYAN	A	0.01%
	MSA	F	0.01%
	MTDR	F	0.01%
	CELH	F	0.01%
	SNV	D	0.01%
	LFUS	C	0.01%
	MTN	D	0.01%
	VKTX	C	0.01%
	SAIC	A	0.01%
	TREX	D	0.01%
	G	A	0.01%
	MTG	B	0.01%
	SEIC	B	0.01%
	LBRDK	B	0.01%
	UHAL	A	0.01%
	NOV	F	0.01%
	MTZ	B	0.01%
	PCTY	B	0.01%
	CGNX	F	0.01%
	OSK	F	0.01%
	WSC	D	0.01%
	IONS	F	0.01%
	SWN	D	0.01%
	JAZZ	F	0.01%
	AAL	D	0.01%
	BRKR	D	0.01%
	ZION	D	0.01%
	KEX	C	0.01%
	WTFC	D	0.01%
	ADC	B	0.01%
	PLNT	B	0.01%
	GNTX	D	0.01%
	FYBR	C	0.01%
	AGNC	C	0.01%
	RRC	D	0.01%
	VOYA	A	0.01%
	WCC	C	0.01%
	BSY	D	0.01%
	STAG	D	0.01%
	ARW	C	0.01%
	BRBR	C	0.01%
	BPOP	D	0.01%
	FR	C	0.01%
	CRBG	C	0.01%
	CMA	C	0.01%
	MIDD	D	0.01%
	PEN	D	0.01%
	EXEL	B	0.01%
	CBSH	D	0.01%
	ACHC	F	0.01%
	XP	F	0.01%
	ITCI	D	0.01%
	PNFP	D	0.01%
	WFRD	F	0.01%
	DTM	A	0.01%
	ELAN	D	0.01%
	CR	B	0.01%
	AYI	A	0.01%
	COKE	B	0.01%
	SSD	B	0.01%
	DUOL	B	0.01%
	AMC	F	0.0%
	SEG	D	0.0%
	CWEN	C	0.0%
	PLTK	C	0.0%
	UHAL	A	0.0%
	SIRI	C	0.0%
	TFSL	F	0.0%
	NFE	F	0.0%
	UI	A	0.0%
	SEB	D	0.0%
	PYCR	D	0.0%
	UWMC	D	0.0%
	LBRDA	B	0.0%
	DDS	D	0.0%
	DJT	F	0.0%
	UA	B	0.0%
	CNA	D	0.0%
	SNDR	C	0.0%
	WOLF	F	0.0%
	CERT	F	0.0%
	CAR	D	0.0%
	TRIP	F	0.0%
	INFA	D	0.0%
	LEG	D	0.0%
	MP	B	0.0%
	REYN	D	0.0%
	UAA	B	0.0%
	GO	F	0.0%
	PPC	B	0.0%
	ALGM	F	0.0%
	IPGP	D	0.0%
	VSTS	D	0.0%
	SHC	C	0.0%
	BIRK	F	0.0%
	QS	F	0.0%
	HAYW	B	0.0%
	FTRE	F	0.0%
	ADTN	B	0.0%
	KSS	D	0.0%
	RCM	B	0.0%
	JWN	D	0.0%
	BOKF	D	0.0%
	HHH	C	0.0%
	FIVN	F	0.0%
	PINC	F	0.0%
	CRI	D	0.0%
	TXG	F	0.0%
	ENOV	F	0.0%
	SAM	D	0.0%
	VIRT	B	0.0%
	NCNO	F	0.0%
	AGR	C	0.0%
	VAC	D	0.0%

VONE Underweight 8 Positions Relative to PHDG

	Symbol	Grade	Weight
	CME	A	-0.09%
	NXPI	F	-0.07%
	TEL	D	-0.05%
	COR	F	-0.04%
	ERIE	A	-0.02%
	GEN	B	-0.02%
	RVTY	B	-0.02%
	STX	B	-0.02%

VONE: Top Represented Industries & Keywords

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

Keywords: S&P 500 Nasdaq 100 Computing Natural Gas Insurance Electronics Bank Banking Real Estate Investment Trust Aerospace Chemical Electricity Mining Telecommunications Medicine Semiconductor Insurance Products Dow Jones Component IBD 50 Biotechnology

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 Aerospace Chemical Real Estate Investment Trust Telecommunications Medicine Bank Semiconductor Banking Insurance Products Petroleum Industry Transport Investment Bank