# Portfolio overlap — ICSIX vs SDRAX Comparing **Dynamic US Opportunity Fund** (2026-03-31) and **Swan Defined Risk Fund** (2026-03-31). - Shared positions: 10 - Dynamic US Opportunity Fund covered by Swan Defined Risk Fund: 0.2858729923599113126513930199 - Swan Defined Risk Fund covered by Dynamic US Opportunity Fund: 0.2858729923599113126513930200 ## Dynamic US Opportunity Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | State Street Communication Services Select Sector SPDR ETF | 0.181280 | ✓ | | TECHNOLOGY SELECT SECT SPDR MUTUAL FUND | 0.139755 | ✓ | | FIRST AM-TR OB-X | 0.106971 | | | State Street Industrial Select Sector SPDR ETF USD Class | 0.100825 | ✓ | | STATE STREET ENERGY SELECT SECTOR SPDR ETF MUTUAL FUND | 0.085624 | ✓ | | State StreetFinSelSectSPDRETF | 0.078535 | ✓ | | UTILITIES SELECT SECTOR SPDR MUTUAL FUND | 0.053876 | ✓ | | STATE STREET CONSUMER DISCRETIONARY SELECT S SPDR | 0.048723 | ✓ | | State Street Health Care Select Sector SPDR ETF USD Class | 0.044792 | ✓ | | State Street SPDR S&P Aerospace & Defense ETF | 0.042703 | | | State Street Consumer Staples Select Sector SPDR ETF | 0.030311 | ✓ | | STATE STREET SPDR PORT S&P 500 VALUE MUTUAL FUND | 0.026446 | | | Russell 2000 ETF | 0.024654 | | | JPM ACT BD ETF | 0.024085 | | | STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF MUTUAL FUND | 0.011421 | ✓ | ## Swan Defined Risk Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | iShares Core S&P 500 ETF | 0.586825 | | | US ULTRA BOND CBT Sep25 | 0.116336 | | | TECHNOLOGY SELECT SECT SPDR MUTUAL FUND | 0.097177 | ✓ | | State StreetFinSelSectSPDRETF | 0.036723 | ✓ | | STATE STREET CONSUMER DISCRETIONARY SELECT S SPDR | 0.028879 | ✓ | | State Street Health Care Select Sector SPDR ETF USD Class | 0.028333 | ✓ | | State Street Communication Services Select Sector SPDR ETF | 0.028001 | ✓ | | State Street Industrial Select Sector SPDR ETF USD Class | 0.026376 | ✓ | | State Street Consumer Staples Select Sector SPDR ETF | 0.015443 | ✓ | | STATE STREET ENERGY SELECT SECTOR SPDR ETF MUTUAL FUND | 0.011983 | ✓ | | UTILITIES SELECT SECTOR SPDR MUTUAL FUND | 0.007415 | ✓ | | STATE STREET MATERIALS SELECT SECTOR SPDR ETF MUTUAL FUND | 0.005942 | | | STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF MUTUAL FUND | 0.005544 | ✓ | | FRST AM-GV OB-X | 0.005023 | | ## Sources - N-PORT (fund A) — accession `0000910472-26-007585` (as of 2026-03-31) - N-PORT (fund B) — accession `0000910472-26-007814` (as of 2026-03-31) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _