Elm Partners Management LLC Activity Q4 2018-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
SGOV	Buy	ISHARES TR0-3 mnth treasry	$135,513,933	+275.1%	1,346,120	+274.9%	14.02%	+285.1%
VTI	Sell	VANGUARD INDEX FDStotal stk mkt	$119,444,302	-8.6%	562,329	-5.2%	12.35%	-6.1%
VGK	Sell	VANGUARD INTL EQUITY INDEX Fftse europe etf	$89,414,864	-30.3%	1,543,498	-25.7%	9.25%	-28.4%
ITOT	Sell	ISHARES TRcore s&p ttl stk	$87,396,217	-13.7%	927,872	-10.3%	9.04%	-11.4%
VWO	Sell	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$83,070,542	-26.3%	2,118,606	-23.5%	8.59%	-24.3%
IEMG	Sell	ISHARES INCcore msci emkt	$82,423,185	-17.5%	1,731,943	-14.6%	8.52%	-15.3%
SCHP	Buy	SCHWAB STRATEGIC TRus tips etf	$46,295,833	+86.7%	916,931	+93.9%	4.79%	+91.8%
VPL	Sell	VANGUARD INTL EQUITY INDEX Fftse pacific etf	$46,275,460	-19.5%	691,918	-16.1%	4.79%	-17.4%
IEUR	Sell	ISHARES TRcore msci euro	$32,188,381	-7.1%	648,175	-1.5%	3.33%	-4.6%
IPAC	Sell	ISHARES TRcore msci pac	$30,536,566	-6.5%	549,219	-3.5%	3.16%	-4.1%
HYLB	Buy	DBX ETF TRxtrack usd high	$30,060,153	+3.3%	886,730	+5.1%	3.11%	+6.0%
VGSH	Buy	VANGUARD SCOTTSDALE FDSshort term treas	$18,942,682	+97.2%	328,866	+97.7%	1.96%	+102.6%
IVV	Sell	ISHARES TRcore s&p500 etf	$18,702,231	-8.0%	43,551	-4.5%	1.93%	-5.6%
BIL	Sell	SPDR SER TRbloomberg 1-3 mo	$17,345,914	-52.6%	188,912	-52.6%	1.79%	-51.4%
BND	Buy	VANGUARD BD INDEX FDStotal bnd mrkt	$14,031,891	+5.8%	201,088	+10.2%	1.45%	+8.6%
BBCA	Sell	J P MORGAN EXCHANGE TRADED Fbetabuilders cda	$12,230,549	-13.5%	210,328	-8.9%	1.26%	-11.2%
VB	Sell	VANGUARD INDEX FDSsmall cp etf	$11,807,140	-18.4%	62,449	-14.1%	1.22%	-16.2%
MUB	Buy	ISHARES TRnational mun etf	$10,236,928	+25.9%	99,834	+31.1%	1.06%	+29.3%
VNQI	Sell	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$10,155,522	-5.5%	260,866	-2.4%	1.05%	-3.0%
IAU	Sell	ISHARES GOLD TRishares new	$7,901,407	-49.4%	225,819	-47.3%	0.82%	-48.0%
VTV	Buy	VANGUARD INDEX FDSvalue etf	$6,871,649	+9.5%	49,820	+12.8%	0.71%	+12.5%
VNQ	Sell	VANGUARD INDEX FDSreal estate etf	$6,401,457	-48.4%	84,608	-43.1%	0.66%	-47.1%
STIP	Buy	ISHARES TR0-5 yr tips etf	$5,882,850	+115.1%	60,698	+116.6%	0.61%	+121.1%
EWC	Sell	ISHARES INCmsci cda etf	$4,207,731	-26.6%	125,754	-23.3%	0.44%	-24.7%
IUSV	Sell	ISHARES TRcore s&p us vlu	$3,703,878	-5.3%	49,637	-0.7%	0.38%	-2.8%
SCZ	Sell	ISHARES TReafe sml cp etf	$3,469,531	-4.5%	61,440	-0.2%	0.36%	-1.9%
AGG	Buy	ISHARES TRcore us aggbd et	$3,311,211	+320.8%	35,211	+338.3%	0.34%	+332.9%
SCHC	Sell	SCHWAB STRATEGIC TRintl sceqt etf	$1,986,863	-4.7%	61,608	-0.2%	0.20%	-2.4%
IJR	Sell	ISHARES TRcore s&p scp etf	$1,969,144	-9.5%	20,875	-4.4%	0.20%	-6.8%
VTEB	Buy	VANGUARD MUN BD FDStax exempt bd	$1,791,533	+29.1%	37,246	+34.8%	0.18%	+32.1%
LQD	Buy	ISHARES TRiboxx inv cp etf	$1,634,564	+193.0%	16,022	+210.6%	0.17%	+201.8%
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$728,124	-3.7%	1,703	-0.1%	0.08%	-1.3%
SCHA	Sell	SCHWAB STRATEGIC TRus sml cap etf	$705,048	-9.8%	17,022	-4.6%	0.07%	-7.6%
XLK	New	SELECT SECTOR SPDR TRtechnology	$646,704	–	3,945	–	0.07%	–
HYG	Sell	ISHARES TRiboxx hi yd etf	$624,751	-25.7%	8,475	-24.3%	0.06%	-23.5%
SCHB	Buy	SCHWAB STRATEGIC TRus brd mkt etf	$592,182	-1.3%	11,879	+2.3%	0.06%	+1.7%
TIP	Buy	ISHARES TRtips bd etf	$538,825	-1.4%	5,195	+2.3%	0.06%	+1.8%
XLY	New	SELECT SECTOR SPDR TRsbi cons discr	$396,494	–	2,463	–	0.04%	–
VSS	Sell	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$386,356	-4.4%	3,638	-0.5%	0.04%	-2.4%
XLV	New	SELECT SECTOR SPDR TRsbi healthcare	$358,541	–	2,785	–	0.04%	–
IWD	Sell	ISHARES TRrus 1000 val etf	$290,887	-5.1%	1,916	-1.3%	0.03%	-3.2%
XLC	New	SELECT SECTOR SPDR TR	$269,821	–	4,115	–	0.03%	–
VFH	New	VANGUARD WORLD FDSfinancials etf	$264,815	–	3,297	–	0.03%	–
VDC	New	VANGUARD WORLD FDSconsum stp etf	$240,394	–	1,316	–	0.02%	–

Q2 2023

			Value		Shares		↓ Weighting
VTI	New	VANGUARD INDEX FDStotal stk mkt	$130,647,450	–	593,097	–	13.16%	–
VGK	New	VANGUARD INTL EQUITY INDEX Fftse europe etf	$128,194,791	–	2,077,711	–	12.91%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$112,653,231	–	2,769,253	–	11.35%	–
ITOT	New	ISHARES TRcore s&p ttl stk	$101,254,469	–	1,034,899	–	10.20%	–
IEMG	New	ISHARES INCcore msci emkt	$99,934,310	–	2,027,476	–	10.07%	–
VPL	New	VANGUARD INTL EQUITY INDEX Fftse pacific etf	$57,503,388	–	824,776	–	5.79%	–
BIL	New	SPDR SER TRbloomberg 1-3 mo	$36,627,408	–	398,904	–	3.69%	–
SGOV	New	ISHARES TR0-3 mnth treasry	$36,132,122	–	359,059	–	3.64%	–
IEUR	New	ISHARES TRcore msci euro	$34,642,709	–	658,231	–	3.49%	–
IPAC	New	ISHARES TRcore msci pac	$32,676,166	–	568,974	–	3.29%	–
HYLB	New	DBX ETF TRxtrack usd high	$29,107,345	–	843,691	–	2.93%	–
SCHP	New	SCHWAB STRATEGIC TRus tips etf	$24,791,181	–	472,843	–	2.50%	–
IVV	New	ISHARES TRcore s&p500 etf	$20,329,855	–	45,612	–	2.05%	–
IAU	New	ISHARES GOLD TRishares new	$15,602,394	–	428,755	–	1.57%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$14,465,244	–	72,730	–	1.46%	–
BBCA	New	J P MORGAN EXCHANGE TRADED Fbetabuilders cda	$14,145,610	–	230,911	–	1.42%	–
BND	New	VANGUARD BD INDEX FDStotal bnd mrkt	$13,263,738	–	182,470	–	1.34%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$12,415,641	–	148,584	–	1.25%	–
VOO	New	VANGUARD INDEX FDS	$11,611,885	–	28,511	–	1.17%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$10,745,046	–	267,356	–	1.08%	–
VGSH	New	VANGUARD SCOTTSDALE FDSshort term treas	$9,603,674	–	166,355	–	0.97%	–
MUB	New	ISHARES TRnational mun etf	$8,130,478	–	76,178	–	0.82%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$6,275,170	–	44,160	–	0.63%	–
EWC	New	ISHARES INCmsci cda etf	$5,735,458	–	163,917	–	0.58%	–
IUSV	New	ISHARES TRcore s&p us vlu	$3,911,946	–	49,987	–	0.39%	–
SCZ	New	ISHARES TReafe sml cp etf	$3,632,342	–	61,586	–	0.37%	–
VEU	New	VANGUARD INTL EQUITY INDEX Fallwrld ex us	$3,042,189	–	55,912	–	0.31%	–
STIP	New	ISHARES TR0-5 yr tips etf	$2,734,947	–	28,022	–	0.28%	–
IJR	New	ISHARES TRcore s&p scp etf	$2,174,867	–	21,825	–	0.22%	–
SCHC	New	SCHWAB STRATEGIC TRintl sceqt etf	$2,085,635	–	61,760	–	0.21%	–
SCHH	New	SCHWAB STRATEGIC TRus reit etf	$1,693,095	–	86,692	–	0.17%	–
VTEB	New	VANGUARD MUN BD FDStax exempt bd	$1,387,378	–	27,626	–	0.14%	–
HYG	New	ISHARES TRiboxx hi yd etf	$840,638	–	11,198	–	0.08%	–
AGG	New	ISHARES TRcore us aggbd et	$786,833	–	8,033	–	0.08%	–
SCHA	New	SCHWAB STRATEGIC TRus sml cap etf	$781,652	–	17,846	–	0.08%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$755,823	–	1,705	–	0.08%	–
SCHB	New	SCHWAB STRATEGIC TRus brd mkt etf	$600,134	–	11,608	–	0.06%	–
LQD	New	ISHARES TRiboxx inv cp etf	$557,786	–	5,158	–	0.06%	–
TIP	New	ISHARES TRtips bd etf	$546,602	–	5,079	–	0.06%	–
VSS	New	VANGUARD INTL EQUITY INDEX Fftse smcap etf	$404,136	–	3,658	–	0.04%	–
IWD	New	ISHARES TRrus 1000 val etf	$306,506	–	1,942	–	0.03%	–

Q4 2022

			Value		Shares		↓ Weighting
AGG	Exit	iShares Core U.S. Aggregate Bond ETFetf	$0	–	-2,368	–	-0.03%	–
IWD	Exit	iShares Russell 1000 Value ETFetf	$0	–	-1,825	–	-0.03%	–
SPY	Exit	SPDR S&P 500 ETF Trustetf	$0	–	-696	–	-0.03%	–
HYG	Exit	iShares iBoxx High Yield Corporate Bond ETFetf	$0	–	-7,396	–	-0.07%	–
LQD	Exit	iShares iBoxx $ Investment Grade Corporate Bond ETFetf	$0	–	-5,650	–	-0.08%	–
TIP	Exit	iShares TIPS Bond ETFetf	$0	–	-10,239	–	-0.14%	–
SCHB	Exit	Schwab US Broad Market ETFetf	$0	–	-39,275	–	-0.22%	–
SCHC	Exit	Schwab International Small-Cap Equity ETFetf	$0	–	-62,277	–	-0.23%	–
IUSV	Exit	iShares Core S&P U.S. Value ETFetf	$0	–	-32,805	–	-0.28%	–
SCHP	Exit	Schwab US TIPS ETFetf	$0	–	-41,234	–	-0.29%	–
IJR	Exit	iShares Core S&P Small-Cap ETFetf	$0	–	-25,555	–	-0.30%	–
SCZ	Exit	iShares MSCI EAFE Small-Cap ETFetf	$0	–	-69,273	–	-0.46%	–
IAU	Exit	iShares Gold Trustetf	$0	–	-133,136	–	-0.57%	–
VTV	Exit	Vanguard Value ETFetf	$0	–	-34,723	–	-0.58%	–
EWC	Exit	iShares MSCI Canada ETFetf	$0	–	-152,271	–	-0.63%	–
HYLB	Exit	Xtrackers USD High Yield Corporate Bond ETFetf	$0	–	-143,267	–	-0.63%	–
VB	Exit	Vanguard Small-Cap ETFetf	$0	–	-34,205	–	-0.79%	–
VNQ	Exit	Vanguard Real Estate ETFetf	$0	–	-91,038	–	-0.98%	–
SCHH	Exit	Schwab U.S. REIT ETFetf	$0	–	-440,612	–	-1.11%	–
BND	Exit	Vanguard Total Bond Market ETFetf	$0	–	-125,487	–	-1.21%	–
VNQI	Exit	Vanguard Global ex-U.S. Real Estate ETFetf	$0	–	-259,700	–	-1.34%	–
IVV	Exit	iShares Core S&P 500 ETFetf	$0	–	-29,434	–	-1.42%	–
VOO	Exit	Vanguard S&P 500 ETFetf	$0	–	-39,431	–	-1.75%	–
MUB	Exit	iShares National Muni Bond ETFetf	$0	–	-134,917	–	-1.87%	–
BBCA	Exit	JPMorgan BetaBuilders Canada ETFetf	$0	–	-269,969	–	-1.95%	–
IPAC	Exit	iShares Core MSCI Pacific ETFetf	$0	–	-584,276	–	-3.78%	–
VPL	Exit	Vanguard FTSE Pacific ETFetf	$0	–	-496,266	–	-3.85%	–
IEUR	Exit	iShares Core MSCI Europe ETFetf	$0	–	-827,804	–	-4.42%	–
VGK	Exit	Vanguard FTSE Europe ETFetf	$0	–	-897,668	–	-5.59%	–
ITOT	Exit	iShares Core S&P Total US Stock Market ETFetf	$0	–	-602,634	–	-6.47%	–
VWO	Exit	Vanguard FTSE Emerging Markets ETFetf	$0	–	-1,606,109	–	-7.91%	–
IEMG	Exit	iShares Core MSCI Emerging Markets ETFetf	$0	–	-1,389,967	–	-8.06%	–
VTI	Exit	Vanguard Total Stock Market ETFetf	$0	–	-402,047	–	-9.74%	–
VGSH	Exit	Vanguard Short-Term Treasury ETFetf	$0	–	-1,389,872	–	-10.84%	–
BIL	Exit	SPDR Bloomberg 1-3 Month T-Bill ETFetf	$0	–	-1,807,429	–	-22.34%	–

Q3 2022

			Value		Shares		↓ Weighting
BIL	Buy	SPDR Bloomberg 1-3 Month T-Bill ETFetf	$165,560,000	+1.4%	1,807,429	+1.3%	22.34%	+5.0%
VGSH	Buy	Vanguard Short-Term Treasury ETFetf	$80,321,000	+3.3%	1,389,872	+5.3%	10.84%	+7.0%
VTI	Sell	Vanguard Total Stock Market ETFetf	$72,155,000	-9.5%	402,047	-4.9%	9.74%	-6.4%
IEMG	Buy	iShares Core MSCI Emerging Markets ETFetf	$59,741,000	+4.5%	1,389,967	+19.3%	8.06%	+8.2%
VWO	Buy	Vanguard FTSE Emerging Markets ETFetf	$58,607,000	-8.3%	1,606,109	+4.7%	7.91%	-5.1%
ITOT	Sell	iShares Core S&P Total US Stock Market ETFetf	$47,934,000	-8.8%	602,634	-4.0%	6.47%	-5.6%
VGK	Sell	Vanguard FTSE Europe ETFetf	$41,427,000	-12.7%	897,668	-0.1%	5.59%	-9.7%
IEUR	Buy	iShares Core MSCI Europe ETFetf	$32,731,000	-5.7%	827,804	+7.3%	4.42%	-2.4%
VPL	Buy	Vanguard FTSE Pacific ETFetf	$28,506,000	+4.3%	496,266	+15.3%	3.85%	+7.9%
IPAC	Buy	iShares Core MSCI Pacific ETFetf	$28,010,000	+5.7%	584,276	+14.6%	3.78%	+9.4%
BBCA	Sell	JPMorgan BetaBuilders Canada ETFetf	$14,430,000	-16.9%	269,969	-8.7%	1.95%	-14.0%
MUB	Buy	iShares National Muni Bond ETFetf	$13,840,000	+64.4%	134,917	+70.4%	1.87%	+70.1%
VOO	Sell	Vanguard S&P 500 ETFetf	$12,945,000	-30.9%	39,431	-27.0%	1.75%	-28.5%
IVV	Sell	iShares Core S&P 500 ETFetf	$10,557,000	-31.0%	29,434	-27.1%	1.42%	-28.6%
VNQI	Buy	Vanguard Global ex-U.S. Real Estate ETFetf	$9,910,000	-1.0%	259,700	+14.9%	1.34%	+2.5%
BND	Buy	Vanguard Total Bond Market ETFetf	$8,951,000	+1598.5%	125,487	+1692.4%	1.21%	+1650.7%
SCHH	Sell	Schwab U.S. REIT ETFetf	$8,236,000	-23.4%	440,612	-13.6%	1.11%	-20.7%
VNQ	Sell	Vanguard Real Estate ETFetf	$7,299,000	-43.1%	91,038	-35.4%	0.98%	-41.1%
VB	Sell	Vanguard Small-Cap ETFetf	$5,846,000	-15.3%	34,205	-12.8%	0.79%	-12.3%
HYLB	Buy	Xtrackers USD High Yield Corporate Bond ETFetf	$4,691,000	+4.4%	143,267	+7.6%	0.63%	+8.0%
EWC	Buy	iShares MSCI Canada ETFetf	$4,684,000	+4.9%	152,271	+14.9%	0.63%	+8.6%
VTV	Sell	Vanguard Value ETFetf	$4,288,000	-26.1%	34,723	-21.1%	0.58%	-23.5%
IAU	Buy	iShares Gold Trustetf	$4,198,000	+15.9%	133,136	+26.1%	0.57%	+20.1%
IJR	Buy	iShares Core S&P Small-Cap ETFetf	$2,228,000	+5.2%	25,555	+11.6%	0.30%	+9.1%
SCHP	New	Schwab US TIPS ETFetf	$2,136,000	–	41,234	–	0.29%	–
IUSV	Buy	iShares Core S&P U.S. Value ETFetf	$2,054,000	-2.1%	32,805	+4.6%	0.28%	+1.1%
SCHB	Sell	Schwab US Broad Market ETFetf	$1,649,000	-61.0%	39,275	-59.0%	0.22%	-59.5%
TIP	Sell	iShares TIPS Bond ETFetf	$1,074,000	-8.4%	10,239	-0.6%	0.14%	-5.2%
LQD	New	iShares iBoxx $ Investment Grade Corporate Bond ETFetf	$579,000	–	5,650	–	0.08%	–
HYG	Sell	iShares iBoxx High Yield Corporate Bond ETFetf	$528,000	-17.8%	7,396	-15.2%	0.07%	-15.5%
SPY	Sell	SPDR S&P 500 ETF Trustetf	$249,000	-78.5%	696	-77.3%	0.03%	-77.5%
IWD	Buy	iShares Russell 1000 Value ETFetf	$248,000	+21.6%	1,825	+29.8%	0.03%	+22.2%
AGG	New	iShares Core U.S. Aggregate Bond ETFetf	$228,000	–	2,368	–	0.03%	–

Q2 2022

			Value		Shares		↓ Weighting
BIL	New	SPDR Bloomberg 1-3 Month T-Bill ETFetf	$163,248,000	–	1,784,322	–	21.28%	–
VTI	New	Vanguard Total Stock Market ETFetf	$79,758,000	–	422,852	–	10.40%	–
VGSH	New	Vanguard Short-Term Treasury ETFetf	$77,722,000	–	1,320,447	–	10.13%	–
VWO	New	Vanguard FTSE Emerging Markets ETFetf	$63,912,000	–	1,534,501	–	8.33%	–
IEMG	New	iShares Core MSCI Emerging Markets ETFetf	$57,145,000	–	1,164,801	–	7.45%	–
ITOT	New	iShares Core S&P Total US Stock Market ETFetf	$52,573,000	–	627,515	–	6.86%	–
VGK	New	Vanguard FTSE Europe ETFetf	$47,479,000	–	898,877	–	6.19%	–
IEUR	New	iShares Core MSCI Europe ETFetf	$34,694,000	–	771,674	–	4.52%	–
VPL	New	Vanguard FTSE Pacific ETFetf	$27,332,000	–	430,559	–	3.56%	–
IPAC	New	iShares Core MSCI Pacific ETFetf	$26,509,000	–	509,891	–	3.46%	–
VOO	New	Vanguard S&P 500 ETFetf	$18,744,000	–	54,035	–	2.44%	–
BBCA	New	JPMorgan BetaBuilders Canada ETFetf	$17,371,000	–	295,729	–	2.26%	–
IVV	New	iShares Core S&P 500 ETFetf	$15,304,000	–	40,365	–	2.00%	–
VNQ	New	Vanguard Real Estate ETFetf	$12,833,000	–	140,856	–	1.67%	–
SCHH	New	Schwab U.S. REIT ETFetf	$10,756,000	–	510,000	–	1.40%	–
VNQI	New	Vanguard Global ex-U.S. Real Estate ETFetf	$10,010,000	–	226,101	–	1.30%	–
MUB	New	iShares National Muni Bond ETFetf	$8,421,000	–	79,177	–	1.10%	–
VB	New	Vanguard Small-Cap ETFetf	$6,904,000	–	39,205	–	0.90%	–
VTV	New	Vanguard Value ETFetf	$5,805,000	–	44,019	–	0.76%	–
HYLB	New	Xtrackers USD High Yield Corporate Bond ETFetf	$4,492,000	–	133,173	–	0.59%	–
EWC	New	iShares MSCI Canada ETFetf	$4,465,000	–	132,570	–	0.58%	–
SCHB	New	Schwab US Broad Market ETFetf	$4,228,000	–	95,682	–	0.55%	–
SCZ	New	iShares MSCI EAFE Small-Cap ETFetf	$3,782,000	–	69,273	–	0.49%	–
IAU	New	iShares Gold Trustetf	$3,621,000	–	105,552	–	0.47%	–
IJR	New	iShares Core S&P Small-Cap ETFetf	$2,117,000	–	22,909	–	0.28%	–
IUSV	New	iShares Core S&P U.S. Value ETFetf	$2,098,000	–	31,371	–	0.27%	–
SCHC	New	Schwab International Small-Cap Equity ETFetf	$1,945,000	–	62,277	–	0.25%	–
TIP	New	iShares TIPS Bond ETFetf	$1,173,000	–	10,301	–	0.15%	–
SPY	New	SPDR S&P 500 ETF Trustetf	$1,158,000	–	3,070	–	0.15%	–
HYG	New	iShares iBoxx High Yield Corporate Bond ETFetf	$642,000	–	8,725	–	0.08%	–
BND	New	Vanguard Total Bond Market ETFetf	$527,000	–	7,001	–	0.07%	–
IWD	New	iShares Russell 1000 Value ETFetf	$204,000	–	1,406	–	0.03%	–

Q4 2021

			Value		Shares		↓ Weighting
VSS	Exit	VANGUARD FTSE ALL WO X-US SCetf	$0	–	-1,873	–	-0.03%	–
IWD	Exit	ISHARES RUSSELL 1000 VALUE Eetf	$0	–	-1,800	–	-0.04%	–
BND	Exit	VANGUARD TOTAL BOND MARKETetf	$0	–	-5,529	–	-0.06%	–
SPY	Exit	SPDR S&P 500 ETF TRUSTetf	$0	–	-1,554	–	-0.09%	–
SCHB	Exit	SCHWAB US BROAD MARKET ETFetf	$0	–	-6,852	–	-0.10%	–
VGIT	Exit	VANGUARD INTERMEDIATE-TERM Tetf	$0	–	-14,500	–	-0.13%	–
VTEB	Exit	VANGUARD TAX-EXEMPT BOND ETFetf	$0	–	-20,085	–	-0.15%	–
MUB	Exit	ISHARES NATIONAL MUNI BOND Eetf	$0	–	-14,551	–	-0.23%	–
HYG	Exit	ISHARES IBOXX HIGH YLD CORPetf	$0	–	-19,924	–	-0.23%	–
SCHC	Exit	SCHWAB INTL SMALL-CAP EQUITYetf	$0	–	-62,277	–	-0.34%	–
IAU	Exit	ISHARES GOLD TRUSTetf	$0	–	-87,161	–	-0.39%	–
IJR	Exit	ISHARES CORE S&P SMALL-CAP Eetf	$0	–	-27,673	–	-0.40%	–
IUSV	Exit	ISHARES CORE S&P U.S. VALUEetf	$0	–	-53,676	–	-0.51%	–
EWC	Exit	ISHARES MSCI CANADA ETFetf	$0	–	-111,911	–	-0.54%	–
VGSH	Exit	VANGUARD SHORT-TERM TREASURYetf	$0	–	-72,170	–	-0.59%	–
SCZ	Exit	ISHARES MSCI EAFE SMALL-CAPetf	$0	–	-69,611	–	-0.69%	–
TIP	Exit	ISHARES TIPS BOND ETFetf	$0	–	-46,006	–	-0.78%	–
HYLB	Exit	XTRACKERS USD HIGH YIELD CORetf	$0	–	-200,226	–	-1.07%	–
VNQI	Exit	VANGUARD GLBL EX-US REAL ESTetf	$0	–	-192,077	–	-1.44%	–
SCHH	Exit	SCHWAB US REIT ETFetf	$0	–	-255,000	–	-1.56%	–
VTV	Exit	VANGUARD VALUE ETFetf	$0	–	-90,652	–	-1.64%	–
BIL	Exit	SPDR BBG BARC 1-3 MONTH TBILetf	$0	–	-147,343	–	-1.80%	–
VB	Exit	VANGUARD SMALL-CAP ETFetf	$0	–	-77,510	–	-2.26%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-42,994	–	-2.47%	–
JPIN	Exit	JPMORGAN BETABUILDERS CANADAetf	$0	–	-319,898	–	-2.69%	–
VOO	Exit	VANGUARD S&P 500 ETFetf	$0	–	-65,647	–	-3.46%	–
IPAC	Exit	ISHARES CORE MSCI PACIFIC ETetf	$0	–	-410,496	–	-3.67%	–
VNQ	Exit	VANGUARD REAL ESTATE ETFetf	$0	–	-313,148	–	-4.25%	–
VPL	Exit	VANGUARD FTSE PACIFIC ETFetf	$0	–	-477,585	–	-5.17%	–
IEUR	Exit	ISHARES CORE MSCI EUROPEetf	$0	–	-721,755	–	-5.40%	–
IEMG	Exit	ISHARES CORE MSCI EMERGINGetf	$0	–	-1,035,673	–	-8.54%	–
ITOT	Exit	ISHARES CORE S&P TOTAL U.S.etf	$0	–	-662,033	–	-8.69%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKEetf	$0	–	-1,610,780	–	-10.75%	–
VGK	Exit	VANGUARD FTSE EUROPE ETFetf	$0	–	-1,292,566	–	-11.32%	–
VTI	Exit	VANGUARD TOTAL STOCK MKT ETFetf	$0	–	-624,527	–	-18.51%	–

Q3 2021

			Value		Shares		↓ Weighting
VTI	Buy	VANGUARD TOTAL STOCK MKT ETFetf	$138,682,000	+9.7%	624,527	+10.1%	18.51%	+11.3%
VGK	Buy	VANGUARD FTSE EUROPE ETFetf	$84,805,000	-2.3%	1,292,566	+0.2%	11.32%	-0.9%
VWO	Sell	VANGUARD FTSE EMERGING MARKEetf	$80,555,000	-13.2%	1,610,780	-5.7%	10.75%	-11.9%
ITOT	Sell	ISHARES CORE S&P TOTAL U.S.etf	$65,131,000	-0.7%	662,033	-0.4%	8.69%	+0.7%
IEMG	Sell	ISHARES CORE MSCI EMERGINGetf	$63,963,000	-9.3%	1,035,673	-1.6%	8.54%	-8.0%
IEUR	Buy	ISHARES CORE MSCI EUROPEetf	$40,462,000	+0.8%	721,755	+3.0%	5.40%	+2.3%
VPL	Buy	VANGUARD FTSE PACIFIC ETFetf	$38,704,000	+0.4%	477,585	+2.0%	5.17%	+1.8%
VNQ	Buy	VANGUARD REAL ESTATE ETFetf	$31,872,000	+7.4%	313,148	+7.4%	4.25%	+9.0%
IPAC	Sell	ISHARES CORE MSCI PACIFIC ETetf	$27,487,000	+0.3%	410,496	-0.6%	3.67%	+1.8%
VOO	Buy	VANGUARD S&P 500 ETFetf	$25,891,000	+0.2%	65,647	+0.0%	3.46%	+1.7%
JPIN	New	JPMORGAN BETABUILDERS CANADAetf	$20,138,000	–	319,898	–	2.69%	–
IVV	Buy	ISHARES CORE S&P 500 ETFetf	$18,523,000	+0.7%	42,994	+0.5%	2.47%	+2.1%
VB	Buy	VANGUARD SMALL-CAP ETFetf	$16,949,000	+5.1%	77,510	+8.3%	2.26%	+6.6%
BIL	Sell	SPDR BBG BARC 1-3 MONTH TBILetf	$13,476,000	-21.3%	147,343	-21.3%	1.80%	-20.2%
VTV	Buy	VANGUARD VALUE ETFetf	$12,272,000	+15.1%	90,652	+16.8%	1.64%	+16.7%
VNQI	Sell	VANGUARD GLBL EX-US REAL ESTetf	$10,816,000	-13.5%	192,077	-10.4%	1.44%	-12.3%
HYLB	Sell	XTRACKERS USD HIGH YIELD CORetf	$8,025,000	-14.8%	200,226	-14.3%	1.07%	-13.6%
TIP	Buy	ISHARES TIPS BOND ETFetf	$5,875,000	+313.7%	46,006	+314.7%	0.78%	+319.3%
SCZ	Sell	ISHARES MSCI EAFE SMALL-CAPetf	$5,180,000	-0.7%	69,611	-1.0%	0.69%	+0.7%
VGSH	Sell	VANGUARD SHORT-TERM TREASURYetf	$4,432,000	-29.9%	72,170	-29.9%	0.59%	-28.8%
EWC	Buy	ISHARES MSCI CANADA ETFetf	$4,062,000	+4.4%	111,911	+7.3%	0.54%	+5.9%
IUSV	Sell	ISHARES CORE S&P U.S. VALUEetf	$3,805,000	-2.7%	53,676	-1.2%	0.51%	-1.4%
IJR	Buy	ISHARES CORE S&P SMALL-CAP Eetf	$3,022,000	+2.3%	27,673	+5.8%	0.40%	+3.6%
IAU	New	ISHARES GOLD TRUSTetf	$2,912,000	–	87,161	–	0.39%	–
HYG	Sell	ISHARES IBOXX HIGH YLD CORPetf	$1,743,000	-5.4%	19,924	-4.8%	0.23%	-4.1%
MUB	Buy	ISHARES NATIONAL MUNI BOND Eetf	$1,690,000	+24.8%	14,551	+26.0%	0.23%	+27.0%
VGIT	Sell	VANGUARD INTERMEDIATE-TERM Tetf	$979,000	-34.4%	14,500	-34.1%	0.13%	-33.2%
SCHB	Buy	SCHWAB US BROAD MARKET ETFetf	$712,000	+3.2%	6,852	+3.5%	0.10%	+4.4%
BND	Buy	VANGUARD TOTAL BOND MARKETetf	$472,000	+6.8%	5,529	+7.5%	0.06%	+8.6%
IWD	Sell	ISHARES RUSSELL 1000 VALUE Eetf	$282,000	-2.8%	1,800	-1.4%	0.04%	0.0%
VSS	Sell	VANGUARD FTSE ALL WO X-US SCetf	$250,000	-27.7%	1,873	-26.2%	0.03%	-28.3%
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-9	–	0.00%	–
SCHA	Exit	SCHWAB US SMALL-CAP ETFetf	$0	–	-205	–	-0.00%	–
VXUS	Exit	VANGUARD TOTAL INTL STOCKetf	$0	–	-450	–	-0.00%	–
EFV	Exit	ISHARES MSCI EAFE VALUE ETFetf	$0	–	-1,062	–	-0.01%	–
SCHX	Exit	SCHWAB US LARGE-CAP ETFetf	$0	–	-484	–	-0.01%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-544	–	-0.02%	–
AGG	Exit	ISHARES CORE U.S. AGGREGATEetf	$0	–	-1,671	–	-0.02%	–
IAU	Exit	ISHARES GOLD TRUSTetf	$0	–	-87,161	–	-0.39%	–
BBCA	Exit	JPMORGAN BETABUILDERS CANADAetf	$0	–	-345,742	–	-2.94%	–

Q2 2021

			Value		Shares		↓ Weighting
VTI	New	VANGUARD TOTAL STOCK MKT ETFetf	$126,407,000	–	567,304	–	16.63%	–
VWO	New	VANGUARD FTSE EMERGING MARKEetf	$92,799,000	–	1,708,697	–	12.21%	–
VGK	New	VANGUARD FTSE EUROPE ETFetf	$86,779,000	–	1,290,201	–	11.42%	–
IEMG	New	ISHARES CORE MSCI EMERGINGetf	$70,510,000	–	1,052,546	–	9.28%	–
ITOT	New	ISHARES CORE S&P TOTAL U.S.etf	$65,622,000	–	664,461	–	8.64%	–
IEUR	New	ISHARES CORE MSCI EUROPEetf	$40,135,000	–	700,674	–	5.28%	–
VPL	New	VANGUARD FTSE PACIFIC ETFetf	$38,555,000	–	468,409	–	5.07%	–
VNQ	New	VANGUARD REAL ESTATE ETFetf	$29,666,000	–	291,448	–	3.90%	–
IPAC	New	ISHARES CORE MSCI PACIFIC ETetf	$27,396,000	–	412,902	–	3.60%	–
VOO	New	VANGUARD S&P 500 ETFetf	$25,833,000	–	65,646	–	3.40%	–
BBCA	New	JPMORGAN BETABUILDERS CANADAetf	$22,373,000	–	345,742	–	2.94%	–
IVV	New	ISHARES CORE S&P 500 ETFetf	$18,392,000	–	42,781	–	2.42%	–
BIL	New	SPDR BBG BARC 1-3 MONTH TBILetf	$17,133,000	–	187,309	–	2.26%	–
VB	New	VANGUARD SMALL-CAP ETFetf	$16,127,000	–	71,587	–	2.12%	–
VNQI	New	VANGUARD GLBL EX-US REAL ESTetf	$12,509,000	–	214,337	–	1.65%	–
SCHH	New	SCHWAB US REIT ETFetf	$11,676,000	–	255,000	–	1.54%	–
VTV	New	VANGUARD VALUE ETFetf	$10,666,000	–	77,592	–	1.40%	–
HYLB	New	XTRACKERS USD HIGH YIELD CORetf	$9,414,000	–	233,535	–	1.24%	–
VGSH	New	VANGUARD SHORT-TERM TREASURYetf	$6,322,000	–	102,906	–	0.83%	–
SCZ	New	ISHARES MSCI EAFE SMALL-CAPetf	$5,216,000	–	70,335	–	0.69%	–
IUSV	New	ISHARES CORE S&P U.S. VALUEetf	$3,910,000	–	54,342	–	0.52%	–
EWC	New	ISHARES MSCI CANADA ETFetf	$3,889,000	–	104,339	–	0.51%	–
IJR	New	ISHARES CORE S&P SMALL-CAP Eetf	$2,954,000	–	26,147	–	0.39%	–
IAU	New	ISHARES GOLD TRUSTetf	$2,938,000	–	87,161	–	0.39%	–
SCHC	New	SCHWAB INTL SMALL-CAP EQUITYetf	$2,591,000	–	62,277	–	0.34%	–
HYG	New	ISHARES IBOXX HIGH YLD CORPetf	$1,843,000	–	20,933	–	0.24%	–
VGIT	New	VANGUARD INTERMEDIATE-TERM Tetf	$1,492,000	–	22,000	–	0.20%	–
TIP	New	ISHARES TIPS BOND ETFetf	$1,420,000	–	11,095	–	0.19%	–
MUB	New	ISHARES NATIONAL MUNI BOND Eetf	$1,354,000	–	11,549	–	0.18%	–
VTEB	New	VANGUARD TAX-EXEMPT BOND ETFetf	$1,111,000	–	20,085	–	0.15%	–
SCHB	New	SCHWAB US BROAD MARKET ETFetf	$690,000	–	6,622	–	0.09%	–
SPY	New	SPDR S&P 500 ETF TRUSTetf	$665,000	–	1,554	–	0.09%	–
BND	New	VANGUARD TOTAL BOND MARKETetf	$442,000	–	5,142	–	0.06%	–
VSS	New	VANGUARD FTSE ALL WO X-US SCetf	$346,000	–	2,539	–	0.05%	–
IWD	New	ISHARES RUSSELL 1000 VALUE Eetf	$290,000	–	1,826	–	0.04%	–
AGG	New	ISHARES CORE U.S. AGGREGATEetf	$193,000	–	1,671	–	0.02%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$125,000	–	544	–	0.02%	–
EFV	New	ISHARES MSCI EAFE VALUE ETFetf	$55,000	–	1,062	–	0.01%	–
SCHX	New	SCHWAB US LARGE-CAP ETFetf	$50,000	–	484	–	0.01%	–
VXUS	New	VANGUARD TOTAL INTL STOCKetf	$30,000	–	450	–	0.00%	–
SCHA	New	SCHWAB US SMALL-CAP ETFetf	$21,000	–	205	–	0.00%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$1,000	–	9	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
EFA	Exit	ISHARES MSCI EAFE ETFetf	$0	–	-9	–	0.00%	–
SCHA	Exit	SCHWAB US SMALL-CAP ETFetf	$0	–	-205	–	-0.00%	–
VXUS	Exit	VANGUARD TOTAL INTL STOCKetf	$0	–	-450	–	-0.00%	–
SCHX	Exit	SCHWAB US LARGE-CAP ETFetf	$0	–	-484	–	-0.01%	–
SCHE	Exit	SCHWAB EMERGING MARKETS EQUIetf	$0	–	-2,500	–	-0.01%	–
EFV	Exit	ISHARES MSCI EAFE VALUE ETFetf	$0	–	-2,607	–	-0.02%	–
IWD	Exit	ISHARES RUSSELL 1000 VALUE Eetf	$0	–	-1,995	–	-0.04%	–
SPY	Exit	SPDR S&P 500 ETF TRUSTetf	$0	–	-1,817	–	-0.10%	–
SCHB	Exit	SCHWAB US BROAD MARKET ETFetf	$0	–	-11,913	–	-0.16%	–
VGIT	Exit	VANGUARD INTERMEDIATE-TERM Tetf	$0	–	-22,000	–	-0.26%	–
IJR	Exit	ISHARES CORE S&P SMALL-CAP Eetf	$0	–	-29,695	–	-0.35%	–
HYG	Exit	ISHARES IBOXX HIGH YLD CORPetf	$0	–	-25,573	–	-0.36%	–
SCHC	Exit	SCHWAB INTL SMALL-CAP EQUITYetf	$0	–	-66,134	–	-0.36%	–
IUSV	Exit	ISHARES CORE S&P U.S. VALUEetf	$0	–	-59,392	–	-0.54%	–
EWC	Exit	ISHARES MSCI CANADA ETFetf	$0	–	-131,362	–	-0.61%	–
AGG	Exit	ISHARES CORE U.S. AGGREGATEetf	$0	–	-35,917	–	-0.71%	–
SCZ	Exit	ISHARES MSCI EAFE SMALL-CAPetf	$0	–	-74,651	–	-0.74%	–
VTV	Exit	VANGUARD VALUE ETFetf	$0	–	-45,654	–	-0.80%	–
VSS	Exit	VANGUARD FTSE ALL WO X-US SCetf	$0	–	-45,590	–	-0.81%	–
VGSH	Exit	VANGUARD SHORT-TERM TREASURYetf	$0	–	-93,200	–	-0.97%	–
MUB	Exit	ISHARES NATIONAL MUNI BOND Eetf	$0	–	-50,982	–	-0.99%	–
IAU	Exit	ISHARES GOLD TRUSTetf	$0	–	-339,322	–	-1.03%	–
VNQI	Exit	VANGUARD GLBL EX-US REAL ESTetf	$0	–	-128,337	–	-1.05%	–
TIP	Exit	ISHARES TIPS BOND ETFetf	$0	–	-56,642	–	-1.20%	–
HYLB	Exit	XTRACKERS USD HIGH YIELD CORetf	$0	–	-164,293	–	-1.33%	–
SCHH	Exit	SCHWAB US REIT ETFetf	$0	–	-255,000	–	-1.52%	–
VB	Exit	VANGUARD SMALL-CAP ETFetf	$0	–	-60,426	–	-1.56%	–
BBCA	Exit	JPMORGAN BETABUILDERS CANADAetf	$0	–	-454,202	–	-1.82%	–
VTEB	Exit	VANGUARD TAX-EXEMPT BOND ETFetf	$0	–	-225,873	–	-2.07%	–
VNQ	Exit	VANGUARD REAL ESTATE ETFetf	$0	–	-175,435	–	-2.33%	–
BIL	Exit	SPDR BBG BARC 1-3 MONTH TBILetf	$0	–	-176,106	–	-2.71%	–
BND	Exit	VANGUARD TOTAL BOND MARKETetf	$0	–	-213,612	–	-3.17%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-63,945	–	-3.62%	–
VOO	Exit	VANGUARD S&P 500 ETFetf	$0	–	-70,374	–	-3.64%	–
IPAC	Exit	ISHARES CORE MSCI PACIFIC ETetf	$0	–	-429,935	–	-4.07%	–
VPL	Exit	VANGUARD FTSE PACIFIC ETFetf	$0	–	-367,234	–	-4.20%	–
IEUR	Exit	ISHARES CORE MSCI EUROPEetf	$0	–	-730,406	–	-5.49%	–
ITOT	Exit	ISHARES CORE S&P TOTAL U.S.etf	$0	–	-666,680	–	-8.47%	–
VGK	Exit	VANGUARD FTSE EUROPE ETFetf	$0	–	-998,379	–	-8.80%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKEetf	$0	–	-1,312,821	–	-9.55%	–
IEMG	Exit	ISHARES CORE MSCI EMERGINGetf	$0	–	-1,082,786	–	-9.62%	–
VTI	Exit	VANGUARD TOTAL STOCK MKT ETFetf	$0	–	-519,488	–	-14.88%	–

Q3 2020

			Value		Shares		↓ Weighting
VTI	Buy	VANGUARD TOTAL STOCK MKT ETFetf	$88,474,000	+10.8%	519,488	+1.9%	14.88%	+4.5%
IEMG	Sell	ISHARES CORE MSCI EMERGINGetf	$57,171,000	+8.8%	1,082,786	-1.9%	9.62%	+2.5%
VWO	Buy	VANGUARD FTSE EMERGING MARKEetf	$56,766,000	+44.6%	1,312,821	+32.4%	9.55%	+36.3%
VGK	Buy	VANGUARD FTSE EUROPE ETFetf	$52,345,000	+32.7%	998,379	+27.3%	8.80%	+25.0%
ITOT	Sell	ISHARES CORE S&P TOTAL U.S.etf	$50,328,000	+5.2%	666,680	-3.3%	8.47%	-0.9%
IEUR	Sell	ISHARES CORE MSCI EUROPEetf	$32,656,000	+2.0%	730,406	-2.4%	5.49%	-3.9%
VPL	Buy	VANGUARD FTSE PACIFIC ETFetf	$24,990,000	+27.4%	367,234	+19.2%	4.20%	+20.1%
IPAC	Sell	ISHARES CORE MSCI PACIFIC ETetf	$24,218,000	+3.9%	429,935	-2.8%	4.07%	-2.1%
VOO	Sell	VANGUARD S&P 500 ETFetf	$21,651,000	+1.5%	70,374	-6.5%	3.64%	-4.3%
IVV	Sell	ISHARES CORE S&P 500 ETFetf	$21,489,000	-1.3%	63,945	-9.1%	3.62%	-7.0%
BND	Sell	VANGUARD TOTAL BOND MARKETetf	$18,845,000	-9.3%	213,612	-9.1%	3.17%	-14.5%
BIL	Sell	SPDR BBG BARC 1-3 MONTH TBILetf	$16,117,000	-29.6%	176,106	-29.6%	2.71%	-33.6%
VNQ	Sell	VANGUARD REAL ESTATE ETFetf	$13,852,000	-15.5%	175,435	-16.0%	2.33%	-20.3%
VTEB	Sell	VANGUARD TAX-EXEMPT BOND ETFetf	$12,297,000	-17.8%	225,873	-18.3%	2.07%	-22.5%
BBCA	Buy	JPMORGAN BETABUILDERS CANADAetf	$10,833,000	+25.0%	454,202	+18.5%	1.82%	+17.8%
VB	Sell	VANGUARD SMALL-CAP ETFetf	$9,293,000	+4.7%	60,426	-0.8%	1.56%	-1.3%
HYLB	Sell	XTRACKERS USD HIGH YIELD CORetf	$7,903,000	-8.6%	164,293	-11.2%	1.33%	-13.9%
TIP	Sell	ISHARES TIPS BOND ETFetf	$7,165,000	-20.4%	56,642	-22.6%	1.20%	-25.0%
VNQI	Sell	VANGUARD GLBL EX-US REAL ESTetf	$6,238,000	-12.8%	128,337	-16.3%	1.05%	-17.9%
IAU	Sell	ISHARES GOLD TRUSTetf	$6,104,000	-4.0%	339,322	-9.4%	1.03%	-9.5%
MUB	Sell	ISHARES NATIONAL MUNI BOND Eetf	$5,910,000	-0.6%	50,982	-1.0%	0.99%	-6.3%
VGSH	Sell	VANGUARD SHORT-TERM TREASURYetf	$5,787,000	-32.8%	93,200	-32.7%	0.97%	-36.7%
VSS	Sell	VANGUARD FTSE ALL WO X-US SCetf	$4,800,000	+8.1%	45,590	-0.8%	0.81%	+1.9%
VTV	Sell	VANGUARD VALUE ETFetf	$4,771,000	-13.9%	45,654	-17.9%	0.80%	-18.8%
SCZ	Sell	ISHARES MSCI EAFE SMALL-CAPetf	$4,404,000	+7.8%	74,651	-2.0%	0.74%	+1.6%
AGG	Sell	ISHARES CORE U.S. AGGREGATEetf	$4,240,000	-10.7%	35,917	-10.6%	0.71%	-15.9%
EWC	Sell	ISHARES MSCI CANADA ETFetf	$3,601,000	-0.9%	131,362	-6.4%	0.61%	-6.5%
IUSV	Sell	ISHARES CORE S&P U.S. VALUEetf	$3,224,000	-6.6%	59,392	-10.2%	0.54%	-12.0%
SCHC	Sell	SCHWAB INTL SMALL-CAP EQUITYetf	$2,151,000	+9.6%	66,134	-0.3%	0.36%	+3.4%
HYG	Sell	ISHARES IBOXX HIGH YLD CORPetf	$2,146,000	-16.4%	25,573	-18.7%	0.36%	-21.2%
IJR	Sell	ISHARES CORE S&P SMALL-CAP Eetf	$2,085,000	-9.1%	29,695	-11.6%	0.35%	-14.2%
SCHB	Buy	SCHWAB US BROAD MARKET ETFetf	$949,000	+44.4%	11,913	+33.1%	0.16%	+36.8%
IWD	Sell	ISHARES RUSSELL 1000 VALUE Eetf	$236,000	-17.2%	1,995	-21.2%	0.04%	-21.6%
EFV	Sell	ISHARES MSCI EAFE VALUE ETFetf	$105,000	-21.6%	2,607	-22.3%	0.02%	-25.0%
SHY	Exit	ISHARES 1-3 YEAR TREASURY BOetf	$0	–	-8	–	0.00%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-7	–	0.00%	–
SHV	Exit	ISHARES SHORT TREASURY BONDetf	$0	–	-41	–	-0.00%	–

Q2 2020

			Value		Shares		↓ Weighting
VTI	New	VANGUARD TOTAL STOCK MKT ETFetf	$79,823,000	–	509,957	–	14.25%	–
IEMG	New	ISHARES CORE MSCI EMERGINGetf	$52,556,000	–	1,104,114	–	9.38%	–
ITOT	New	ISHARES CORE S&P TOTAL U.S.etf	$47,853,000	–	689,122	–	8.54%	–
VGK	New	VANGUARD FTSE EUROPE ETFetf	$39,459,000	–	784,014	–	7.04%	–
VWO	New	VANGUARD FTSE EMERGING MARKEetf	$39,269,000	–	991,400	–	7.01%	–
IEUR	New	ISHARES CORE MSCI EUROPEetf	$32,014,000	–	748,700	–	5.71%	–
IPAC	New	ISHARES CORE MSCI PACIFIC ETetf	$23,310,000	–	442,319	–	4.16%	–
BIL	New	SPDR BBG BARC 1-3 MONTH TBILetf	$22,890,000	–	250,085	–	4.08%	–
IVV	New	ISHARES CORE S&P 500 ETFetf	$21,774,000	–	70,309	–	3.89%	–
VOO	New	VANGUARD S&P 500 ETFetf	$21,322,000	–	75,230	–	3.80%	–
BND	New	VANGUARD TOTAL BOND MARKETetf	$20,771,000	–	235,120	–	3.71%	–
VPL	New	VANGUARD FTSE PACIFIC ETFetf	$19,616,000	–	308,185	–	3.50%	–
VNQ	New	VANGUARD REAL ESTATE ETFetf	$16,391,000	–	208,728	–	2.92%	–
VTEB	New	VANGUARD TAX-EXEMPT BOND ETFetf	$14,965,000	–	276,413	–	2.67%	–
TIP	New	ISHARES TIPS BOND ETFetf	$8,997,000	–	73,145	–	1.61%	–
SCHH	New	SCHWAB US REIT ETFetf	$8,981,000	–	255,000	–	1.60%	–
VB	New	VANGUARD SMALL-CAP ETFetf	$8,876,000	–	60,913	–	1.58%	–
BBCA	New	JPMORGAN BETABUILDERS CANADAetf	$8,667,000	–	383,347	–	1.55%	–
HYLB	New	XTRACKERS USD HIGH YIELD CORetf	$8,645,000	–	184,914	–	1.54%	–
VGSH	New	VANGUARD SHORT-TERM TREASURYetf	$8,616,000	–	138,523	–	1.54%	–
VNQI	New	VANGUARD GLBL EX-US REAL ESTetf	$7,155,000	–	153,337	–	1.28%	–
IAU	New	ISHARES GOLD TRUSTetf	$6,360,000	–	374,322	–	1.14%	–
MUB	New	ISHARES NATIONAL MUNI BOND Eetf	$5,944,000	–	51,507	–	1.06%	–
VTV	New	VANGUARD VALUE ETFetf	$5,541,000	–	55,639	–	0.99%	–
AGG	New	ISHARES CORE U.S. AGGREGATEetf	$4,750,000	–	40,186	–	0.85%	–
VSS	New	VANGUARD FTSE ALL WO X-US SCetf	$4,440,000	–	45,952	–	0.79%	–
SCZ	New	ISHARES MSCI EAFE SMALL-CAPetf	$4,084,000	–	76,170	–	0.73%	–
EWC	New	ISHARES MSCI CANADA ETFetf	$3,633,000	–	140,384	–	0.65%	–
IUSV	New	ISHARES CORE S&P U.S. VALUEetf	$3,453,000	–	66,118	–	0.62%	–
HYG	New	ISHARES IBOXX HIGH YLD CORPetf	$2,566,000	–	31,436	–	0.46%	–
IJR	New	ISHARES CORE S&P SMALL-CAP Eetf	$2,294,000	–	33,599	–	0.41%	–
SCHC	New	SCHWAB INTL SMALL-CAP EQUITYetf	$1,962,000	–	66,363	–	0.35%	–
VGIT	New	VANGUARD INTERMEDIATE-TERM Tetf	$1,553,000	–	22,000	–	0.28%	–
SCHB	New	SCHWAB US BROAD MARKET ETFetf	$657,000	–	8,948	–	0.12%	–
SPY	New	SPDR S&P 500 ETF TRUSTetf	$560,000	–	1,817	–	0.10%	–
IWD	New	ISHARES RUSSELL 1000 VALUE Eetf	$285,000	–	2,533	–	0.05%	–
EFV	New	ISHARES MSCI EAFE VALUE ETFetf	$134,000	–	3,357	–	0.02%	–
SCHE	New	SCHWAB EMERGING MARKETS EQUIetf	$61,000	–	2,500	–	0.01%	–
SCHX	New	SCHWAB US LARGE-CAP ETFetf	$36,000	–	484	–	0.01%	–
VXUS	New	VANGUARD TOTAL INTL STOCKetf	$22,000	–	450	–	0.00%	–
SCHA	New	SCHWAB US SMALL-CAP ETFetf	$13,000	–	205	–	0.00%	–
SHV	New	ISHARES SHORT TREASURY BONDetf	$5,000	–	41	–	0.00%	–
SHY	New	ISHARES 1-3 YEAR TREASURY BOetf	$1,000	–	8	–	0.00%	–
EFA	New	ISHARES MSCI EAFE ETFetf	$1,000	–	9	–	0.00%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$1,000	–	7	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
EWY	Exit	ISHARES MSCI SOUTH KOREA ETFetf	$0	–	0	–	0.00%	–
SCHA	Exit	SCHWAB US SMALL-CAP ETFetf	$0	–	-232	–	-0.00%	–
VXUS	Exit	VANGUARD TOTAL INTL STOCKetf	$0	–	-450	–	-0.01%	–
SCHX	Exit	SCHWAB US LARGE-CAP ETFetf	$0	–	-484	–	-0.01%	–
SCHE	Exit	SCHWAB EMERGING MARKETS EQUIetf	$0	–	-2,500	–	-0.01%	–
SPY	Exit	SPDR S&P 500 ETF TRUSTetf	$0	–	-1,097	–	-0.07%	–
SCHC	Exit	SCHWAB INTL SMALL-CAP EQUITYetf	$0	–	-11,716	–	-0.08%	–
HYG	Exit	ISHARES IBOXX HIGH YLD CORPetf	$0	–	-7,584	–	-0.15%	–
EFV	Exit	ISHARES MSCI EAFE VALUE ETFetf	$0	–	-21,553	–	-0.23%	–
IWD	Exit	ISHARES RUSSELL 1000 VALUE Eetf	$0	–	-8,851	–	-0.26%	–
IWM	Exit	ISHARES RUSSELL 2000 ETFetf	$0	–	-8,000	–	-0.27%	–
VGIT	Exit	VANGUARD INTERMEDIATE-TERM Tetf	$0	–	-22,000	–	-0.33%	–
IUSV	Exit	ISHARES CORE S&P U.S. VALUEetf	$0	–	-40,056	–	-0.52%	–
EWC	Exit	ISHARES MSCI CANADA ETFetf	$0	–	-111,533	–	-0.73%	–
SHV	Exit	ISHARES SHORT TREASURY BONDetf	$0	–	-31,509	–	-0.79%	–
IJR	Exit	ISHARES CORE S&P SMALL-CAP Eetf	$0	–	-48,032	–	-0.85%	–
ITOT	Exit	ISHARES CORE S&P TOTAL U.S.etf	$0	–	-68,149	–	-1.04%	–
VTEB	Exit	VANGUARD TAX-EXEMPT BOND ETFetf	$0	–	-92,767	–	-1.13%	–
SCZ	Exit	ISHARES MSCI EAFE SMALL-CAPetf	$0	–	-89,354	–	-1.16%	–
VB	Exit	VANGUARD SMALL-CAP ETFetf	$0	–	-38,441	–	-1.34%	–
MUB	Exit	ISHARES NATIONAL MUNI BOND Eetf	$0	–	-52,055	–	-1.34%	–
IAU	Exit	ISHARES GOLD TRUSTetf	$0	–	-489,322	–	-1.56%	–
SHY	Exit	ISHARES 1-3 YEAR TREASURY BOetf	$0	–	-87,345	–	-1.68%	–
VTV	Exit	VANGUARD VALUE ETFetf	$0	–	-67,415	–	-1.70%	–
TIP	Exit	ISHARES TIPS BOND ETFetf	$0	–	-64,923	–	-1.71%	–
AGG	Exit	ISHARES CORE U.S. AGGREGATEetf	$0	–	-67,303	–	-1.72%	–
VNQI	Exit	VANGUARD GLBL EX-US REAL ESTetf	$0	–	-142,314	–	-1.89%	–
HYLB	Exit	XTRACKERS USD HIGH YIELD CORetf	$0	–	-168,928	–	-1.92%	–
BBCA	Exit	JPMORGAN BETABUILDERS CANADAetf	$0	–	-350,614	–	-1.99%	–
IPAC	Exit	ISHARES CORE MSCI PACIFIC ETetf	$0	–	-162,441	–	-2.07%	–
VSS	Exit	VANGUARD FTSE ALL WO X-US SCetf	$0	–	-96,274	–	-2.22%	–
IEUR	Exit	ISHARES CORE MSCI EUROPEetf	$0	–	-280,249	–	-2.90%	–
BND	Exit	VANGUARD TOTAL BOND MARKETetf	$0	–	-205,032	–	-3.92%	–
VPL	Exit	VANGUARD FTSE PACIFIC ETFetf	$0	–	-291,627	–	-4.36%	–
VNQ	Exit	VANGUARD REAL ESTATE ETFetf	$0	–	-223,724	–	-4.72%	–
VTI	Exit	VANGUARD TOTAL STOCK MKT ETFetf	$0	–	-138,774	–	-4.74%	–
VOO	Exit	VANGUARD S&P 500 ETFetf	$0	–	-90,530	–	-5.59%	–
IEMG	Exit	ISHARES CORE MSCI EMERGINGetf	$0	–	-717,786	–	-7.97%	–
VWO	Exit	VANGUARD FTSE EMERGING MARKEetf	$0	–	-876,983	–	-7.99%	–
VGK	Exit	VANGUARD FTSE EUROPE ETFetf	$0	–	-921,924	–	-11.19%	–
IVV	Exit	ISHARES CORE S&P 500 ETFetf	$0	–	-263,747	–	-17.83%	–

Q3 2019

			Value		Shares		↓ Weighting
IVV	Buy	ISHARES CORE S&P 500 ETFetf	$78,734,000	+45.3%	263,747	+43.4%	17.83%	+46.9%
VGK	Buy	VANGUARD FTSE EUROPE ETFetf	$49,424,000	+25.7%	921,924	+28.8%	11.19%	+27.2%
VWO	Buy	VANGUARD FTSE EMERGING MARKEetf	$35,307,000	+3.7%	876,983	+9.6%	7.99%	+4.9%
IEMG	Buy	ISHARES CORE MSCI EMERGINGetf	$35,186,000	+10.8%	717,786	+16.3%	7.97%	+12.1%
VOO	Buy	VANGUARD S&P 500 ETFetf	$24,679,000	+84.6%	90,530	+82.2%	5.59%	+86.7%
VTI	Buy	VANGUARD TOTAL STOCK MKT ETFetf	$20,955,000	+4.8%	138,774	+4.2%	4.74%	+6.0%
VNQ	Sell	VANGUARD REAL ESTATE ETFetf	$20,862,000	+6.4%	223,724	-0.3%	4.72%	+7.6%
VPL	Buy	VANGUARD FTSE PACIFIC ETFetf	$19,262,000	+34.7%	291,627	+34.8%	4.36%	+36.2%
BND	Sell	VANGUARD TOTAL BOND MARKETetf	$17,311,000	-4.6%	205,032	-6.1%	3.92%	-3.5%
IEUR	Buy	ISHARES CORE MSCI EUROPEetf	$12,819,000	+20.1%	280,249	+22.4%	2.90%	+21.4%
VSS	Sell	VANGUARD FTSE ALL WO X-US SCetf	$9,815,000	-19.8%	96,274	-17.2%	2.22%	-18.9%
IPAC	Buy	ISHARES CORE MSCI PACIFIC ETetf	$9,129,000	+53.3%	162,441	+51.9%	2.07%	+55.1%
BBCA	Buy	JPMORGAN BETABUILDERS CANADAetf	$8,772,000	+25.8%	350,614	+25.1%	1.99%	+27.2%
HYLB	Sell	XTRACKERS USD HIGH YIELD CORetf	$8,460,000	-4.5%	168,928	-4.3%	1.92%	-3.3%
AGG	Sell	ISHARES CORE U.S. AGGREGATEetf	$7,617,000	-1.2%	67,303	-2.8%	1.72%	-0.1%
TIP	Sell	ISHARES TIPS BOND ETFetf	$7,550,000	-2.4%	64,923	-3.1%	1.71%	-1.3%
VTV	Sell	VANGUARD VALUE ETFetf	$7,525,000	-12.4%	67,415	-12.9%	1.70%	-11.3%
SHY	New	ISHARES 1-3 YEAR TREASURY BOetf	$7,409,000	–	87,345	–	1.68%	–
MUB	Sell	ISHARES NATIONAL MUNI BOND Eetf	$5,939,000	-3.8%	52,055	-4.6%	1.34%	-2.7%
VB	Sell	VANGUARD SMALL-CAP ETFetf	$5,916,000	-3.0%	38,441	-1.2%	1.34%	-1.9%
SCZ	Sell	ISHARES MSCI EAFE SMALL-CAPetf	$5,114,000	-15.0%	89,354	-14.8%	1.16%	-14.1%
VTEB	Sell	VANGUARD TAX-EXEMPT BOND ETFetf	$4,974,000	-0.5%	92,767	-1.5%	1.13%	+0.6%
ITOT	Buy	ISHARES CORE S&P TOTAL U.S.etf	$4,571,000	+1.1%	68,149	+0.4%	1.04%	+2.3%
IJR	Sell	ISHARES CORE S&P SMALL-CAP Eetf	$3,739,000	-11.5%	48,032	-11.1%	0.85%	-10.5%
SHV	New	ISHARES SHORT TREASURY BONDetf	$3,486,000	–	31,509	–	0.79%	–
EWC	Buy	ISHARES MSCI CANADA ETFetf	$3,223,000	+35.9%	111,533	+34.6%	0.73%	+37.5%
IUSV	Sell	ISHARES CORE S&P U.S. VALUEetf	$2,315,000	-14.1%	40,056	-15.8%	0.52%	-13.2%
IWD	Sell	ISHARES RUSSELL 1000 VALUE Eetf	$1,135,000	-21.6%	8,851	-22.2%	0.26%	-20.7%
EFV	Sell	ISHARES MSCI EAFE VALUE ETFetf	$1,021,000	-78.6%	21,553	-78.2%	0.23%	-78.3%
HYG	Buy	ISHARES IBOXX HIGH YLD CORPetf	$661,000	+15.2%	7,584	+15.2%	0.15%	+16.3%
SCHC	Sell	SCHWAB INTL SMALL-CAP EQUITYetf	$373,000	-5.3%	11,716	-3.0%	0.08%	-4.5%
SCHA	Sell	SCHWAB US SMALL-CAP ETFetf	$16,000	-11.1%	232	-10.1%	0.00%	0.0%
EWY		ISHARES MSCI SOUTH KOREA ETFetf	$0	–	0	–	0.00%	–
BSV	Exit	VANGUARD SHORT-TERM BOND ETFetf	$0	–	-328,259	–	-5.92%	–
BIL	Exit	SPDR BBG BARC 1-3 MONTH TBILetf	$0	–	-484,298	–	-9.93%	–

Q2 2019

			Value		Shares		↓ Weighting
IVV	New	ISHARES CORE S&P 500 ETFetf	$54,198,000	–	183,879	–	12.13%	–
BIL	New	SPDR BBG BARC 1-3 MONTH TBILetf	$44,367,000	–	484,298	–	9.93%	–
VGK	New	VANGUARD FTSE EUROPE ETFetf	$39,306,000	–	715,950	–	8.80%	–
VWO	New	VANGUARD FTSE EMERGING MARKEetf	$34,040,000	–	800,369	–	7.62%	–
IEMG	New	ISHARES CORE MSCI EMERGINGetf	$31,743,000	–	617,092	–	7.11%	–
BSV	New	VANGUARD SHORT-TERM BOND ETFetf	$26,435,000	–	328,259	–	5.92%	–
VTI	New	VANGUARD TOTAL STOCK MKT ETFetf	$19,995,000	–	133,222	–	4.48%	–
VNQ	New	VANGUARD REAL ESTATE ETFetf	$19,608,000	–	224,350	–	4.39%	–
BND	New	VANGUARD TOTAL BOND MARKETetf	$18,137,000	–	218,329	–	4.06%	–
VPL	New	VANGUARD FTSE PACIFIC ETFetf	$14,299,000	–	216,390	–	3.20%	–
VOO	New	VANGUARD S&P 500 ETFetf	$13,370,000	–	49,675	–	2.99%	–
VSS	New	VANGUARD FTSE ALL WO X-US SCetf	$12,234,000	–	116,226	–	2.74%	–
IEUR	New	ISHARES CORE MSCI EUROPEetf	$10,673,000	–	229,036	–	2.39%	–
HYLB	New	XTRACKERS USD HIGH YIELD CORetf	$8,855,000	–	176,437	–	1.98%	–
VTV	New	VANGUARD VALUE ETFetf	$8,586,000	–	77,408	–	1.92%	–
VNQI	New	VANGUARD GLBL EX-US REAL ESTetf	$8,397,000	–	142,314	–	1.88%	–
TIP	New	ISHARES TIPS BOND ETFetf	$7,736,000	–	66,984	–	1.73%	–
AGG	New	ISHARES CORE U.S. AGGREGATEetf	$7,708,000	–	69,220	–	1.73%	–
BBCA	New	JPMORGAN BETABUILDERS CANADAetf	$6,971,000	–	280,200	–	1.56%	–
IAU	New	ISHARES GOLD TRUSTetf	$6,606,000	–	489,322	–	1.48%	–
MUB	New	ISHARES NATIONAL MUNI BOND Eetf	$6,174,000	–	54,591	–	1.38%	–
VB	New	VANGUARD SMALL-CAP ETFetf	$6,096,000	–	38,914	–	1.36%	–
SCZ	New	ISHARES MSCI EAFE SMALL-CAPetf	$6,020,000	–	104,875	–	1.35%	–
IPAC	New	ISHARES CORE MSCI PACIFIC ETetf	$5,954,000	–	106,952	–	1.33%	–
VTEB	New	VANGUARD TAX-EXEMPT BOND ETFetf	$5,000,000	–	94,207	–	1.12%	–
EFV	New	ISHARES MSCI EAFE VALUE ETFetf	$4,763,000	–	99,075	–	1.07%	–
ITOT	New	ISHARES CORE S&P TOTAL U.S.etf	$4,521,000	–	67,847	–	1.01%	–
IJR	New	ISHARES CORE S&P SMALL-CAP Eetf	$4,227,000	–	54,004	–	0.95%	–
IUSV	New	ISHARES CORE S&P U.S. VALUEetf	$2,696,000	–	47,583	–	0.60%	–
EWC	New	ISHARES MSCI CANADA ETFetf	$2,372,000	–	82,889	–	0.53%	–
VGIT	New	VANGUARD INTERMEDIATE-TERM Tetf	$1,451,000	–	22,000	–	0.32%	–
IWD	New	ISHARES RUSSELL 1000 VALUE Eetf	$1,448,000	–	11,383	–	0.32%	–
IWM	New	ISHARES RUSSELL 2000 ETFetf	$1,244,000	–	8,000	–	0.28%	–
HYG	New	ISHARES IBOXX HIGH YLD CORPetf	$574,000	–	6,582	–	0.13%	–
SCHC	New	SCHWAB INTL SMALL-CAP EQUITYetf	$394,000	–	12,074	–	0.09%	–
SPY	New	SPDR S&P 500 ETF TRUSTetf	$321,000	–	1,097	–	0.07%	–
SCHE	New	SCHWAB EMERGING MARKETS EQUIetf	$66,000	–	2,500	–	0.02%	–
SCHX	New	SCHWAB US LARGE-CAP ETFetf	$34,000	–	484	–	0.01%	–
VXUS	New	VANGUARD TOTAL INTL STOCKetf	$24,000	–	450	–	0.01%	–
SCHA	New	SCHWAB US SMALL-CAP ETFetf	$18,000	–	258	–	0.00%	–
EWY	New	ISHARES MSCI SOUTH KOREA ETFetf	$0	–	0	–	0.00%	–

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