Clearwater Capital Advisors, LLC Diversified Active

Location: Hoffman Estates, IL

CIK: 0001690531 · Show all filings

Period: Q4 2018 (← Previous) (Next →)

Filing Date: Jan 22, 2019

Total Value: $456M (100.0% shares, 0.0% debt)

Holdings (189)

DGRW WISDOMTREE TR 4.6%
Value $20.93M Shares 545,980 Est. Cost $35.55 Unrealized
DXJ WISDOMTREE TR 3.5%
Value $15.91M Shares 343,025 Est. Cost $42.35 Unrealized
VRP INVESCO EXCHNG TRADED FD TR 3.4%
Value $15.6M Shares 683,693 Est. Cost $24.64 Unrealized
HEDJ WISDOMTREE TR 3.4%
Value $15.44M Shares 273,496 Est. Cost $53.54 Unrealized
FTC FIRST TR LRG CP GRWTH ALPHAD 3.1%
Value $14.07M Shares 245,395 Est. Cost $50.35 Unrealized
DLN WISDOMTREE TR 2.7%
Value $12.22M Shares 144,678 Est. Cost $77.01 Unrealized
BKLN INVESCO EXCHNG TRADED FD TR 2.6%
Value $11.94M Shares 548,069 Est. Cost $22.87 Unrealized
XLF SELECT SECTOR SPDR TR 2.2%
Value $9.935M Shares 417,093 Est. Cost $24.56 Unrealized
TDIV FIRST TR EXCHANGE TRADED FD 2.1%
Value $9.781M Shares 294,961 Est. Cost $26.68 Unrealized
VUG VANGUARD INDEX FDS 1.8%
Value $8.401M Shares 62,541 Est. Cost $107.69 Unrealized
JPMORGAN CHASE & CO 1.6%
Value $7.241M Shares 324,419 Est. Cost $30.64 Unrealized
VCIT VANGUARD SCOTTSDALE FDS 1.6%
Value $7.14M Shares 86,171 Est. Cost $88.77 Unrealized
MUB ISHARES TR 1.6%
Value $7.098M Shares 65,091 Est. Cost $111.19 Unrealized
FTSL FIRST TR EXCHANGE TRADED FD 1.5%
Value $6.674M Shares 146,610 Est. Cost $48.13 Unrealized
HYG ISHARES TR 1.4%
Value $6.508M Shares 80,252 Est. Cost $85.29 Unrealized
STIP ISHARES TR 1.4%
Value $6.265M Shares 63,911 Est. Cost $99.92 Unrealized
GSLC GOLDMAN SACHS ETF TR 1.3%
Value $6.141M Shares 122,109 Est. Cost $45.53 Unrealized
FXO FIRST TR EXCHANGE TRADED FD 1.3%
Value $6.018M Shares 222,819 Est. Cost $23.96 Unrealized
SCHE SCHWAB STRATEGIC TR 1.2%
Value $5.458M Shares 231,953 Est. Cost $24.32 Unrealized
DBEF DBX ETF TR 1.1%
Value $4.842M Shares 173,550 Est. Cost $28.06 Unrealized
VRIG INVESCO ACTIVELY MANAGD ETF 1.0%
Value $4.739M Shares 192,415 Est. Cost $24.78 Unrealized
DES WISDOMTREE TR 1.0%
Value $4.735M Shares 193,035 Est. Cost $42.42 Unrealized
FTA FIRST TR LRG CP VL ALPHADEX 1.0%
Value $4.678M Shares 101,179 Est. Cost $41.12 Unrealized
RSPT INVESCO EXCHANGE TRADED FD T 1.0%
Value $4.528M Shares 32,155 Est. Cost $158.70 Unrealized
VOT VANGUARD INDEX FDS 0.9%
Value $4.317M Shares 36,072 Est. Cost $103.19 Unrealized
DBJP DBX ETF TR 0.9%
Value $4.253M Shares 117,161 Est. Cost $33.40 Unrealized
INTF ISHARES TR 0.9%
Value $4.233M Shares 178,514 Est. Cost $24.50 Unrealized
GEM GOLDMAN SACHS ETF TR 0.9%
Value $4.225M Shares 140,256 Est. Cost $31.87 Unrealized
AAPL APPLE INC 0.9%
Value $3.945M Shares 25,007 Est. Cost $25.76 Unrealized +78.6%
ITM VANECK VECTORS ETF TR 0.8%
Value $3.772M Shares 79,456 Est. Cost $47.47 Unrealized
DHS WISDOMTREE TR 0.8%
Value $3.707M Shares 56,924 Est. Cost $66.97 Unrealized
DON WISDOMTREE TR 0.8%
Value $3.679M Shares 116,311 Est. Cost $50.59 Unrealized
DBEZ DBX ETF TR 0.8%
Value $3.572M Shares 135,005 Est. Cost $24.62 Unrealized
RPG INVESCO EXCHANGE TRADED FD T 0.8%
Value $3.512M Shares 35,243 Est. Cost $114.75 Unrealized
FEX FIRST TR LRGE CP CORE ALPHA 0.8%
Value $3.469M Shares 66,559 Est. Cost $44.87 Unrealized
DEM WISDOMTREE TR 0.8%
Value $3.463M Shares 86,245 Est. Cost $36.59 Unrealized
PGX INVESCO EXCHNG TRADED FD TR 0.7%
Value $3.399M Shares 252,368 Est. Cost $14.52 Unrealized
RPV INVESCO EXCHANGE TRADED FD T 0.7%
Value $3.387M Shares 59,571 Est. Cost $65.35 Unrealized
VLUE ISHARES TR 0.7%
Value $3.379M Shares 46,556 Est. Cost $79.45 Unrealized
EZM WISDOMTREE TR 0.7%
Value $3.331M Shares 97,137 Est. Cost $46.39 Unrealized
HYD VANECK VECTORS ETF TR 0.7%
Value $3.258M Shares 53,377 Est. Cost $61.04 Unrealized
PFF ISHARES TR 0.7%
Value $3.256M Shares 95,125 Est. Cost $37.54 Unrealized
LQD ISHARES TR 0.7%
Value $3.171M Shares 28,106 Est. Cost $120.40 Unrealized
SCHX SCHWAB STRATEGIC TR 0.7%
Value $3.149M Shares 52,755 Est. Cost $63.41 Unrealized
OPPJ WISDOMTREE TR 0.7%
Value $3.146M Shares 85,370 Est. Cost $34.48 Unrealized
HEFA ISHARES TR 0.7%
Value $3.103M Shares 120,212 Est. Cost $25.54 Unrealized
DGRS WISDOMTREE TR 0.7%
Value $3.087M Shares 99,102 Est. Cost $29.36 Unrealized
VMBS VANGUARD SCOTTSDALE FDS 0.7%
Value $3.069M Shares 59,610 Est. Cost $52.50 Unrealized
IFLN INVESCO EXCHNG TRADED FD TR 0.7%
Value $3.007M Shares 170,200 Est. Cost $18.29 Unrealized
MTUM ISHARES TR 0.6%
Value $2.948M Shares 29,415 Est. Cost $104.37 Unrealized
OPPE WISDOMTREE TR 0.6%
Value $2.929M Shares 110,880 Est. Cost $26.41 Unrealized
MGK VANGUARD WORLD FD 0.6%
Value $2.908M Shares 27,175 Est. Cost $83.95 Unrealized
DTD WISDOMTREE TR 0.6%
Value $2.901M Shares 34,278 Est. Cost $76.99 Unrealized
SCHG SCHWAB STRATEGIC TR 0.6%
Value $2.851M Shares 41,367 Est. Cost $56.47 Unrealized
PDBC INVESCO ACTIVELY MANAGD ETF 0.6%
Value $2.787M Shares 184,944 Est. Cost $15.74 Unrealized
FEM FIRST TR EXCH TRD ALPHA FD I 0.6%
Value $2.649M Shares 116,023 Est. Cost $20.93 Unrealized
UBS AG JERSEY BRH 0.6%
Value $2.562M Shares 129,604 Est. Cost $26.04 Unrealized
GSIE GOLDMAN SACHS ETF TR 0.6%
Value $2.538M Shares 100,097 Est. Cost $25.36 Unrealized
SCHM SCHWAB STRATEGIC TR 0.6%
Value $2.527M Shares 52,713 Est. Cost $47.61 Unrealized
SPDR SERIES TRUST 0.5%
Value $2.448M Shares 72,873 Est. Cost $36.09 Unrealized
FNY FIRST TR EXCNGE TRD ALPHADEX 0.5%
Value $2.432M Shares 67,153 Est. Cost $29.96 Unrealized
EMGF ISHARES INC 0.5%
Value $2.409M Shares 62,210 Est. Cost $39.79 Unrealized
HEWJ ISHARES TR 0.5%
Value $2.404M Shares 85,575 Est. Cost $27.77 Unrealized
EES WISDOMTREE TR 0.5%
Value $2.321M Shares 72,445 Est. Cost $40.03 Unrealized
SRLN SSGA ACTIVE ETF TR 0.5%
Value $2.244M Shares 50,209 Est. Cost $45.28 Unrealized
XLK SELECT SECTOR SPDR TR 0.5%
Value $2.19M Shares 35,337 Est. Cost $46.87 Unrealized
MBB ISHARES TR 0.5%
Value $2.18M Shares 20,830 Est. Cost $106.23 Unrealized
SHYG ISHARES TR 0.5%
Value $2.087M Shares 46,846 Est. Cost $46.12 Unrealized
MDIV FIRST TR EXCHANGE TRADED FD 0.4%
Value $2.02M Shares 120,030 Est. Cost $19.14 Unrealized
FNX FIRST TR MID CAP CORE ALPHAD 0.4%
Value $2.008M Shares 34,721 Est. Cost $53.62 Unrealized
IVW ISHARES TR 0.4%
Value $1.994M Shares 13,234 Est. Cost $138.05 Unrealized
HEZU ISHARES TR 0.4%
Value $1.992M Shares 76,804 Est. Cost $27.39 Unrealized
PRF INVESCO EXCHANGE TRADED FD T 0.4%
Value $1.981M Shares 19,505 Est. Cost $112.58 Unrealized
SJNK SPDR SER TR 0.4%
Value $1.979M Shares 76,037 Est. Cost $26.74 Unrealized
FYC FIRST TR EXCNGE TRD ALPHADEX 0.4%
Value $1.977M Shares 49,280 Est. Cost $31.82 Unrealized
FMB FIRST TR EXCHANG TRADED FD I 0.4%
Value $1.948M Shares 37,027 Est. Cost $52.55 Unrealized
QUAL ISHARES TR 0.4%
Value $1.944M Shares 25,328 Est. Cost $81.70 Unrealized
IWO ISHARES TR 0.4%
Value $1.917M Shares 11,409 Est. Cost $141.58 Unrealized
SPGP INVESCO EXCHANGE TRADED FD T 0.4%
Value $1.878M Shares 41,029 Est. Cost $50.83 Unrealized
IGIB ISHARES TR 0.4%
Value $1.857M Shares 35,427 Est. Cost $52.42 Unrealized
FLOT ISHARES TR 0.4%
Value $1.849M Shares 36,713 Est. Cost $50.57 Unrealized
FYX FIRST TR SML CP CORE ALPHA F 0.4%
Value $1.785M Shares 32,967 Est. Cost $50.97 Unrealized
QQQ INVESCO QQQ TR 0.4%
Value $1.74M Shares 11,280 Est. Cost $171.62 Unrealized
SCHA SCHWAB STRATEGIC TR 0.4%
Value $1.734M Shares 28,569 Est. Cost $66.44 Unrealized
IEMG ISHARES INC 0.4%
Value $1.712M Shares 36,300 Est. Cost $52.16 Unrealized
USMV ISHARES TR 0.4%
Value $1.67M Shares 31,866 Est. Cost $48.78 Unrealized
SCHZ SCHWAB STRATEGIC TR 0.3%
Value $1.59M Shares 31,430 Est. Cost $50.40 Unrealized
TIP ISHARES TR 0.3%
Value $1.572M Shares 14,359 Est. Cost $113.02 Unrealized
IJH ISHARES TR 0.3%
Value $1.561M Shares 9,403 Est. Cost $171.05 Unrealized
VCSH VANGUARD SCOTTSDALE FDS 0.3%
Value $1.556M Shares 19,963 Est. Cost $80.72 Unrealized
SCHC SCHWAB STRATEGIC TR 0.3%
Value $1.522M Shares 52,293 Est. Cost $30.12 Unrealized
EEMV ISHARES INC 0.3%
Value $1.474M Shares 26,386 Est. Cost $55.31 Unrealized
VBR VANGUARD INDEX FDS 0.3%
Value $1.467M Shares 12,866 Est. Cost $121.81 Unrealized
FLRN SPDR SER TR 0.3%
Value $1.46M Shares 48,085 Est. Cost $30.52 Unrealized
IYF ISHARES TR 0.3%
Value $1.44M Shares 13,542 Est. Cost $96.68 Unrealized
HYMB SPDR SERIES TRUST 0.3%
Value $1.427M Shares 25,448 Est. Cost $58.60 Unrealized
SPY SPDR S&P 500 ETF TR 0.3%
Value $1.425M Shares 5,700 Est. Cost $215.36 Unrealized
VYM VANGUARD WHITEHALL FDS INC 0.3%
Value $1.417M Shares 18,170 Est. Cost $74.35 Unrealized
IBB ISHARES TR 0.3%
Value $1.403M Shares 14,546 Est. Cost $121.81 Unrealized
VTEB VANGUARD MUN BD FD INC 0.3%
Value $1.346M Shares 26,359 Est. Cost $50.98 Unrealized
VFH VANGUARD WORLD FDS 0.3%
Value $1.34M Shares 22,573 Est. Cost $60.88 Unrealized
SCHV SCHWAB STRATEGIC TR 0.3%
Value $1.315M Shares 26,688 Est. Cost $46.24 Unrealized
IUSG ISHARES TR 0.3%
Value $1.195M Shares 22,676 Est. Cost $54.55 Unrealized
IVV ISHARES TR 0.2%
Value $1.079M Shares 4,288 Est. Cost $231.28 Unrealized
HD SUPPLY HLDGS INC 0.2%
Value $1.059M Shares 28,225 Est. Cost $33.90 Unrealized
HD SUPPLY HLDGS INC 0.2%
Value $1.05M Shares 28,000 Est. Cost $33.90 Unrealized
CIBR FIRST TR EXCHANGE TRADED FD 0.2%
Value $1.009M Shares 43,088 Est. Cost $24.04 Unrealized
PEY INVESCO EXCHANGE TRADED FD T 0.2%
Value $991K Shares 62,555 Est. Cost $17.60 Unrealized
HYLS FIRST TR EXCHANGE TRADED FD 0.2%
Value $951K Shares 21,204 Est. Cost $47.88 Unrealized
FPE FIRST TR EXCHANGE-TRADED FD 0.2%
Value $928K Shares 51,727 Est. Cost $19.09 Unrealized
ALPS ETF TR 0.2%
Value $917K Shares 105,045 Est. Cost $12.39 Unrealized
EEM ISHARES TR 0.2%
Value $894K Shares 22,887 Est. Cost $37.61 Unrealized
SPLV INVESCO EXCHNG TRADED FD TR 0.2%
Value $882K Shares 18,917 Est. Cost $47.42 Unrealized
PRFZ INVESCO EXCHANGE TRADED FD T 0.2%
Value $865K Shares 7,612 Est. Cost $139.13 Unrealized
IXN ISHARES TR 0.2%
Value $858K Shares 5,956 Est. Cost $96.85 Unrealized
BOTZ GLOBAL X FDS 0.2%
Value $848K Shares 50,628 Est. Cost $24.02 Unrealized
SCHF SCHWAB STRATEGIC TR 0.2%
Value $810K Shares 28,559 Est. Cost $31.94 Unrealized
SCZ ISHARES TR 0.2%
Value $808K Shares 15,587 Est. Cost $51.84 Unrealized
XSVM INVESCO EXCHANGE TRADED FD T 0.2%
Value $799K Shares 30,260 Est. Cost $32.15 Unrealized
IJR ISHARES TR 0.2%
Value $795K Shares 11,462 Est. Cost $75.69 Unrealized
IJT ISHARES TR 0.2%
Value $788K Shares 4,883 Est. Cost $146.65 Unrealized
ETF MANAGERS TR 0.2%
Value $768K Shares 22,785 Est. Cost $33.91 Unrealized
VTIP VANGUARD MALVERN FDS 0.2%
Value $752K Shares 15,698 Est. Cost $47.90 Unrealized
DGRE WISDOMTREE TR 0.2%
Value $738K Shares 33,213 Est. Cost $21.76 Unrealized
ROBO EXCHANGE TRADED CONCEPTS TR 0.2%
Value $731K Shares 22,471 Est. Cost $32.53 Unrealized
IWP ISHARES TR 0.2%
Value $729K Shares 6,413 Est. Cost $101.28 Unrealized
VBK VANGUARD INDEX FDS 0.2%
Value $704K Shares 4,676 Est. Cost $126.52 Unrealized
WISDOMTREE TR 0.2%
Value $704K Shares 24,744 Est. Cost $44.62 Unrealized
MSFT MICROSOFT CORP 0.2%
Value $697K Shares 6,862 Est. Cost $65.58 Unrealized +52.5%
JPM JPMORGAN CHASE & CO 0.2%
Value $696K Shares 7,125 Est. Cost $60.96 Unrealized +43.6%
JNJ JOHNSON & JOHNSON 0.1%
Value $606K Shares 4,698 Est. Cost $100.45 Unrealized +13.6%
IJK ISHARES TR 0.1%
Value $597K Shares 3,123 Est. Cost $169.77 Unrealized
VO VANGUARD INDEX FDS 0.1%
Value $597K Shares 4,324 Est. Cost $131.04 Unrealized
IYW ISHARES TR 0.1%
Value $582K Shares 3,642 Est. Cost $105.12 Unrealized
SPHQ INVESCO EXCHANGE TRADED FD T 0.1%
Value $561K Shares 20,168 Est. Cost $27.82 Unrealized
SLYG SPDR SERIES TRUST 0.1%
Value $533K Shares 9,888 Est. Cost $96.96 Unrealized
BAC BANK AMER CORP 0.1%
Value $521K Shares 21,159 Est. Cost $16.77 Unrealized +36.0%
META FACEBOOK INC 0.1%
Value $515K Shares 3,931 Est. Cost $115.58 Unrealized +24.5%
SPYG SPDR SERIES TRUST 0.1%
Value $510K Shares 15,680 Est. Cost $55.34 Unrealized
RFG INVESCO EXCHANGE TRADED FD T 0.1%
Value $505K Shares 3,834 Est. Cost $161.58 Unrealized
AIRR FIRST TR EXCHANGE TRADED FD 0.1%
Value $489K Shares 22,560 Est. Cost $23.66 Unrealized
VNQ VANGUARD INDEX FDS 0.1%
Value $482K Shares 6,469 Est. Cost $87.66 Unrealized
DGS WISDOMTREE TR 0.1%
Value $479K Shares 11,435 Est. Cost $43.46 Unrealized
SMLF ISHARES TR 0.1%
Value $458K Shares 12,798 Est. Cost $35.79 Unrealized
SUB ISHARES TR 0.1%
Value $453K Shares 4,300 Est. Cost $105.12 Unrealized
DVY ISHARES TR 0.1%
Value $453K Shares 5,068 Est. Cost $93.13 Unrealized
RZG INVESCO EXCHANGE TRADED FD T 0.1%
Value $445K Shares 4,277 Est. Cost $127.01 Unrealized
FNK FIRST TR EXCNGE TRD ALPHADEX 0.1%
Value $445K Shares 14,603 Est. Cost $31.82 Unrealized
WISDOMTREE TR 0.1%
Value $435K Shares 18,341 Est. Cost $20.48 Unrealized
LRGF ISHARES TR 0.1%
Value $429K Shares 15,381 Est. Cost $27.89 Unrealized
BABA ALIBABA GROUP HLDG LTD 0.1%
Value $423K Shares 3,086 Est. Cost $124.52 Unrealized
KBWY INVESCO EXCHNG TRADED FD TR 0.1%
Value $421K Shares 15,622 Est. Cost $35.71 Unrealized
VWO VANGUARD INTL EQUITY INDEX F 0.1%
Value $413K Shares 10,840 Est. Cost $42.02 Unrealized
SLQD ISHARES TR 0.1%
Value $411K Shares 8,290 Est. Cost $50.19 Unrealized
IJS ISHARES TR 0.1%
Value $409K Shares 3,100 Est. Cost $117.42 Unrealized
AMZN AMAZON COM INC 0.1%
Value $394K Shares 262 Est. Cost $76.26 Unrealized +9.0%
BIL SPDR SER TR 0.1%
Value $380K Shares 4,150 Est. Cost $91.57 Unrealized
AMGN AMGEN INC 0.1%
Value $375K Shares 1,928 Est. Cost $117.02 Unrealized +34.0%
GVIP GOLDMAN SACHS ETF TR 0.1%
Value $374K Shares 7,616 Est. Cost $49.11 Unrealized
HD HOME DEPOT INC 0.1%
Value $370K Shares 2,153 Est. Cost $108.32 Unrealized +38.8%
IDU ISHARES TR 0.1%
Value $362K Shares 2,695 Est. Cost $127.27 Unrealized
SHY ISHARES TR 0.1%
Value $355K Shares 4,246 Est. Cost $83.61 Unrealized
QABA FIRST TR NASDAQ ABA CMNTY BK 0.1%
Value $353K Shares 8,192 Est. Cost $48.99 Unrealized
CSCO CISCO SYS INC 0.1%
Value $347K Shares 8,003 Est. Cost $27.26 Unrealized +35.4%
FV FIRST TR EXCHANGE TRADED FD 0.1%
Value $342K Shares 13,543 Est. Cost $22.34 Unrealized
MCD MCDONALDS CORP 0.1%
Value $338K Shares 1,901 Est. Cost $109.74 Unrealized +36.8%
RSP INVESCO EXCHANGE TRADED FD T 0.1%
Value $329K Shares 3,596 Est. Cost $101.78 Unrealized
FXH FIRST TR EXCHANGE TRADED FD 0.1%
Value $307K Shares 4,461 Est. Cost $59.68 Unrealized
WISDOMTREE TR 0.1%
Value $305K Shares 11,510 Est. Cost $23.54 Unrealized
AOA ISHARES TR 0.1%
Value $303K Shares 6,233 Est. Cost $50.77 Unrealized
VGT VANGUARD WORLD FDS 0.1%
Value $301K Shares 1,806 Est. Cost $137.79 Unrealized
INTC INTEL CORP 0.1%
Value $300K Shares 6,396 Est. Cost $31.21 Unrealized +28.8%
DIS DISNEY WALT CO 0.1%
Value $300K Shares 2,740 Est. Cost $93.41 Unrealized +16.8%
UBS AG LONDON BRH 0.1%
Value $300K Shares 21,413 Est. Cost $19.38 Unrealized
CVX CHEVRON CORP NEW 0.1%
Value $284K Shares 2,613 Est. Cost $76.32 Unrealized +11.0%
DTH WISDOMTREE TR 0.1%
Value $267K Shares 7,190 Est. Cost $35.95 Unrealized
BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%
Value $257K Shares 1,259 Est. Cost $205.18 Unrealized +1.8%
LMT LOCKHEED MARTIN CORP 0.1%
Value $250K Shares 953 Est. Cost $212.06 Unrealized +17.9%
PGF INVESCO EXCHANGE TRADED FD T 0.1%
Value $244K Shares 14,059 Est. Cost $18.46 Unrealized
PFE PFIZER INC 0.1%
Value $241K Shares 5,522 Est. Cost $27.75 Unrealized +8.2%
ABBV ABBVIE INC 0.1%
Value $240K Shares 2,607 Est. Cost $68.53 Unrealized -5.4%
IWF ISHARES TR 0.1%
Value $239K Shares 1,822 Est. Cost $126.90 Unrealized
IMCB ISHARES TR 0.1%
Value $234K Shares 1,445 Est. Cost $148.79 Unrealized
PZA INVESCO EXCHNG TRADED FD TR 0.0%
Value $224K Shares 8,960 Est. Cost $25.11 Unrealized
VZ VERIZON COMMUNICATIONS INC 0.0%
Value $224K Shares 3,983 Est. Cost $35.70 Unrealized +8.2%
XSMO INVESCO EXCHANGE TRADED FD T 0.0%
Value $215K Shares 6,971 Est. Cost $36.58 Unrealized
GOOGL ALPHABET INC 0.0%
Value $214K Shares 205 Est. Cost $58.86 Unrealized -8.9%
DLS WISDOMTREE TR 0.0%
Value $210K Shares 3,476 Est. Cost $66.71 Unrealized
FDX FEDEX CORP 0.0%
Value $203K Shares 1,256 Est. Cost $203.83 Unrealized -8.8%