Latest Sector Allocation Summary

Sector ETFs ( 85% )

SECTORS	ETF	S&P Weight	FSI Weight	Delta
Information Technology	XLK	29.20%	31.50%	2.3%	OW	OW
Consumer Discretionary	XLY	9.20%	9.50%	0.3%	OW	OW
Utilities	XLU	2.30%	3.70%	1.4%	N	OW
Energy	XLE	0.85%	2.40%	1.6%	N	UW
Communication Services	XLC	8.70%	9.00%	0.3%	OW	OW
Industrials	XLI	6.90%	8.90%	2.0%	OW	OW
Health Care	XLV	9.16%	7.80%	-1.4%	N	N
Consumer Staples	XLP	0.71%	0.70%	0.0%	UW	UW
Financials	XLF	15.50%	11.50%	-4.0%	OW	OW
Real Estate	XLRE	1.91%	0.00%	-1.9%	OW	N
Materials	XLB	1.50%	0.00%	-1.5%	N	N
Total		86%	85%

Note: S&P Index Weight as of October 6th, 2025.

OW

Overweight

N

Neutral

UW

Underweight

HC - Health Care

IT - Information Technology

CD - Consumer Discretionary

UT - Utilities

CST - Consumer Staples

EN - Energy

CS - Communication Services

FN - Financials

IN - Industrials

RE - Real Estate

MT - Materials

SECTORS	ETF	S&P Weight	FSI Weight	Delta
Information Technology XLK	XLK	29.20%	31.50%	2.3%	OW	OW
Consumer Discretionary XLY	XLY	9.20%	9.50%	0.3%	OW	OW
Utilities XLU	XLU	2.30%	3.70%	1.4%	N	OW
Energy XLE	XLE	0.85%	2.40%	1.6%	N	UW
Communication Services XLC	XLC	8.70%	9.00%	0.3%	OW	OW
Industrials XLI	XLI	6.90%	8.90%	2.0%	OW	OW
Health Care XLV	XLV	9.16%	7.80%	-1.4%	N	N
Consumer Staples XLP	XLP	0.71%	0.70%	0.0%	UW	UW
Financials XLF	XLF	15.50%	11.50%	-4.0%	OW	OW
Real Estate XLRE	XLRE	1.91%	0.00%	-1.9%	OW	N
Materials XLB	XLB	1.50%	0.00%	-1.5%	N	N
Total		86%	85%

Note: S&P Index Weight as of October 6th, 2025.

OW

Overweight

N

Neutral

UW

Underweight

HC - Health Care

IT - Information Technology

CD - Consumer Discretionary

UT - Utilities

CST - Consumer Staples

EN - Energy

CS - Communication Services

FN - Financials

IN - Industrials

RE - Real Estate

MT - Materials

Individual ETFs ( 15% )

Sector Changes

ETF	Ticker
XLK XLK	XLK	OW	OW
XLY XLY	XLY	OW	OW
XLU XLU	XLU	N	OW
XLE XLE	XLE	N	UW
XLC XLC	XLC	OW	OW
XLI XLI	XLI	OW	OW
XLV XLV	XLV	N	N
XLP XLP	XLP	UW	N UW
XLF XLF	XLF	OW	OW
XLRE XLRE	XLRE	OW	N
XLB XLB	XLB	N	N

Note: S&P Index Weight as of October 6th, 2025.

OW

Overweight

N

Neutral

UW

Underweight

HC - Health Care

IT - Information Technology

CD - Consumer Discretionary

UT - Utilities

CST - Consumer Staples

EN - Energy

CS - Communication Services

FN - Financials

IN - Industrials

RE - Real Estate

MT - Materials

ETF	Ticker
XLK XLK	XLK	OW	OW
XLY XLY	XLY	OW	OW
XLU XLU	XLU	N	OW
XLE XLE	XLE	N	UW
XLC XLC	XLC	OW	OW
XLI XLI	XLI	OW	OW
XLV XLV	XLV	N	N
XLP XLP	XLP	UW	N UW
XLF XLF	XLF	OW	OW
XLRE XLRE	XLRE	OW	N
XLB XLB	XLB	N	N

Note: S&P Index Weight as of October 6th, 2025.

OW

Overweight

N

Neutral

UW

Underweight

HC - Health Care

IT - Information Technology

CD - Consumer Discretionary

UT - Utilities

CST - Consumer Staples

EN - Energy

CS - Communication Services

FN - Financials

IN - Industrials

RE - Real Estate

MT - Materials