Sage Advisory Services, Ltd.Co. Buys Vanguard Short-Term Bond, JPMorgan Ultra-Short Income, iShares 0-5 Year High Yield Corporate Bond, Sells iShares Core S&P 500, iShares MBS ETF, iShares S&P/Citigroup International Treasury Bond

• New Purchases: IWO, EMLC, LQD,
• Added Positions: BSV, JPST, SHYG, HYG, FTSM, SHY, SRLN, IDV, AGG, HYS, AMLP, PCY, CWB,
• Reduced Positions: IVV, MBB, IEFA, IGSB, IEMG, IGIB, SDY, MINT, IEF, PFF, XLP, XLB, VLUE, XLK, SHV, EMB, VNQ, IGLB, BLV, TLT,
• Sold Out: IGOV, IJR, XLF, VEA, IEI, VGK, XLI, XLV, XLE, VPL, FLOT, SPY, VYM, NOBL, MOAT,

For the details of Sage Advisory Services, Ltd.Co.'s stock buys and sells, go to https://www.gurufocus.com/guru/sage+advisory+services%2C+ltd.co./current-portfolio/portfolioportfolio

1. iShares Core MSCI EAFE (IEFA) - 546,005 shares, 11.52% of the total portfolio. Shares reduced by 61.98%
2. Vanguard Short-Term Bond (BSV) - 325,996 shares, 9.02% of the total portfolio. Shares added by 391.48%
3. SPDR Select Sector Fund - Technology (XLK) - 322,520 shares, 8.65% of the total portfolio. Shares reduced by 13.99%
4. iShares Core MSCI Emerging Markets (IEMG) - 457,079 shares, 8.08% of the total portfolio. Shares reduced by 59.05%
5. SPDR S&P Dividend (SDY) - 168,221 shares, 5.83% of the total portfolio. Shares reduced by 59.18%

Sage Advisory Services, Ltd.Co. initiated holding in iShares Russell 2000 Growth. The purchase prices were between $186.91 and $205.8, with an estimated average price of $197.49. The stock is now traded at around $203.40. The impact to a portfolio due to this purchase was 0.7%. The holding were 10,100 shares as of .

Sage Advisory Services, Ltd.Co. initiated holding in VanEck Vectors J.P. Morgan EM Local Currency Bond. The purchase prices were between $32.18 and $34.53, with an estimated average price of $33.06. The stock is now traded at around $34.93. The impact to a portfolio due to this purchase was 0.11%. The holding were 9,487 shares as of .

Sage Advisory Services, Ltd.Co. initiated holding in iShares iBoxx $ Investment Grade Corporate Bond. The purchase prices were between $118.17 and $124.37, with an estimated average price of $120.06. The stock is now traded at around $124.28. The impact to a portfolio due to this purchase was 0.09%. The holding were 2,021 shares as of .

Sage Advisory Services, Ltd.Co. added to a holding in Vanguard Short-Term Bond by 391.48%. The purchase prices were between $78.75 and $80.44, with an estimated average price of $79.44. The stock is now traded at around $80.36. The impact to a portfolio due to this purchase was 7.18%. The holding were 325,996 shares as of .

Sage Advisory Services, Ltd.Co. added to a holding in JPMorgan Ultra-Short Income by 460.63%. The purchase prices were between $50.27 and $50.49, with an estimated average price of $50.39. The stock is now traded at around $50.49. The impact to a portfolio due to this purchase was 4.61%. The holding were 324,238 shares as of .

Sage Advisory Services, Ltd.Co. added to a holding in iShares 0-5 Year High Yield Corporate Bond by 1303.68%. The purchase prices were between $45.76 and $46.86, with an estimated average price of $46.52. The stock is now traded at around $46.64. The impact to a portfolio due to this purchase was 2.59%. The holding were 174,141 shares as of .

Sage Advisory Services, Ltd.Co. added to a holding in iShares iBoxx $ High Yield Corporate Bond by 194.83%. The purchase prices were between $84.14 and $87.22, with an estimated average price of $85.56. The stock is now traded at around $87.14. The impact to a portfolio due to this purchase was 2.47%. The holding were 124,928 shares as of .

Sage Advisory Services, Ltd.Co. added to a holding in First Trust Enhanced Short Maturity ETF by 921.63%. The purchase prices were between $59.97 and $60.16, with an estimated average price of $60.07. The stock is now traded at around $60.16. The impact to a portfolio due to this purchase was 1.66%. The holding were 89,352 shares as of .

Sage Advisory Services, Ltd.Co. added to a holding in iShares 1-3 Year Treasury Bond ETF by 362.24%. The purchase prices were between $83.84 and $84.81, with an estimated average price of $84.21. The stock is now traded at around $84.53. The impact to a portfolio due to this purchase was 1.21%. The holding were 52,834 shares as of .

Sage Advisory Services, Ltd.Co. sold out a holding in iShares S&P/Citigroup International Treasury Bond. The sale prices were between $48.38 and $50.86, with an estimated average price of $49.24.

Sage Advisory Services, Ltd.Co. sold out a holding in iShares Core S&P Small-Cap. The sale prices were between $72.93 and $81.1, with an estimated average price of $77.42.

Sage Advisory Services, Ltd.Co. sold out a holding in SPDR Select Sector Fund - Financial. The sale prices were between $26.01 and $28.07, with an estimated average price of $27.08.

Sage Advisory Services, Ltd.Co. sold out a holding in Vanguard FTSE Developed Markets. The sale prices were between $39.84 and $42.1, with an estimated average price of $41.22.

Sage Advisory Services, Ltd.Co. sold out a holding in iShares 3-7 Year Treasury Bond ETF. The sale prices were between $121.47 and $125.67, with an estimated average price of $123.24.

Sage Advisory Services, Ltd.Co. sold out a holding in Vanguard FTSEEuropean. The sale prices were between $52.55 and $55.72, with an estimated average price of $54.49.