Latest Sector Allocation Summary

Sector ETFs ( 85% )

SECTORS	ETF	S&P Weight	FSI Weight	Delta
Information Technology	XLK	24.80%	25.50%	0.7%	OW	OW
Utilities	XLU	2.10%	4.00%	1.9%	N	OW
Energy	XLE	3.10%	4.90%	1.8%	N	UW
Communication Services	XLC	8.10%	8.30%	0.2%	OW	N
Financials	XLF	12.00%	14.40%	2.4%	OW	OW
Industrials	XLI	7.10%	7.60%	0.5%	OW	OW
Health Care	XLV	9.50%	9.50%	0.0%	N	OW
Consumer Discretionary	XLY	9.20%	7.60%	-1.6%	OW	OW
Consumer Staples	XLP	5.60%	3.30%	-2.3%	UW	UW
Real Estate	XLRE	1.90%	0.00%	-1.9%	OW	N
Materials	XLB	1.70%	0.00%	-1.7%	N	UW
Total		85%	85%

Note: S&P Index Weight as of April 2nd, 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	24.80%	25.50%	0.7%	OW	OW
Utilities XLU	XLU	2.10%	4.00%	1.9%	N	OW
Energy XLE	XLE	3.10%	4.90%	1.8%	N	UW
Communication Services XLC	XLC	8.10%	8.30%	0.2%	OW	N
Financials XLF	XLF	12.00%	14.40%	2.4%	OW	OW
Industrials XLI	XLI	7.10%	7.60%	0.5%	OW	OW
Health Care XLV	XLV	9.50%	9.50%	0.0%	N	OW
Consumer Discretionary XLY	XLY	9.20%	7.60%	-1.6%	OW	OW
Consumer Staples XLP	XLP	5.60%	3.30%	-2.3%	UW	UW
Real Estate XLRE	XLRE	1.90%	0.00%	-1.9%	OW	N
Materials XLB	XLB	1.70%	0.00%	-1.7%	N	UW
Total		85%	85%

Note: S&P Index Weight as of April 2nd, 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
XLU XLU	XLU	N	OW
XLE XLE	XLE	N	UW
XLC XLC	XLC	OW	N
XLF XLF	XLF	OW	OW
XLI XLI	XLI	OW	OW
XLV XLV	XLV	N	OW
XLY XLY	XLY	OW	OW
XLP XLP	XLP	UW	UW
XLRE XLRE	XLRE	OW	N
XLB XLB	XLB	N	UW

Note: S&P Index Weight as of April 2nd, 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
XLU XLU	XLU	N	OW
XLE XLE	XLE	N	UW
XLC XLC	XLC	OW	N
XLF XLF	XLF	OW	OW
XLI XLI	XLI	OW	OW
XLV XLV	XLV	N	OW
XLY XLY	XLY	OW	OW
XLP XLP	XLP	UW	UW
XLRE XLRE	XLRE	OW	N
XLB XLB	XLB	N	UW

Note: S&P Index Weight as of April 2nd, 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