AVUV vs. FESM ETF Comparison

Comparison of Avantis U.S. Small Cap Value ETF (AVUV) to Fidelity Enhanced Small Cap ETF (FESM)

AVUV

Avantis U.S. Small Cap Value ETF

AVUV Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of U.S. small cap companies across market sectors and industry groups. Under normal market conditions, it will invest at least 80% of its assets in securities of small capitalization companies located in the United States. The fund also may invest in derivative instruments such as futures contracts, currency forwards, and swap agreements.

Grade (RS Rating)

Last Trade

$102.84

Average Daily Volume

775,208

Number of Holdings ^*

717

* may have additional holdings in another (foreign) market

FESM

Fidelity Enhanced Small Cap ETF

FESM Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 2000® Index, which is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$34.64

Average Daily Volume

116,160

Number of Holdings ^*

562

* may have additional holdings in another (foreign) market

Performance

Period	AVUV	FESM
30 Days	4.94%	5.19%
60 Days	5.70%	5.65%
90 Days	9.45%	9.84%
12 Months	28.71%	37.75%

169 Overlapping Holdings

Symbol	Grade	Weight in AVUV	Weight in FESM	Overlap
ABCB	B	0.24%	0.36%	0.24%
AEO	F	0.54%	0.5%	0.5%
AIN	C	0.0%	0.08%	0.0%
ALKS	C	0.39%	0.21%	0.21%
AMAL	B	0.1%	0.09%	0.09%
AMPH	F	0.12%	0.1%	0.1%
AMSF	B	0.01%	0.15%	0.01%
ANF	F	0.42%	0.74%	0.42%
ANIP	D	0.02%	0.08%	0.02%
AOSL	D	0.03%	0.04%	0.03%
APOG	B	0.3%	0.38%	0.3%
AROC	A	0.65%	0.39%	0.39%
ASC	D	0.09%	0.03%	0.03%
ATNI	F	0.04%	0.07%	0.04%
AX	B	0.59%	0.29%	0.29%
AXL	C	0.13%	0.21%	0.13%
BANF	B	0.0%	0.43%	0.0%
BCC	C	0.83%	0.16%	0.16%
BGS	F	0.07%	0.06%	0.06%
BHE	B	0.28%	0.41%	0.28%
BHLB	B	0.1%	0.03%	0.03%
BKD	F	0.05%	0.06%	0.05%
BOH	B	0.3%	0.16%	0.16%
BSRR	C	0.02%	0.08%	0.02%
BUSE	B	0.16%	0.23%	0.16%
BVS	D	0.05%	0.18%	0.05%
BY	B	0.1%	0.05%	0.05%
CALM	A	0.63%	0.22%	0.22%
CATY	B	0.42%	0.08%	0.08%
CCBG	B	0.04%	0.01%	0.01%
CEIX	B	0.53%	0.25%	0.25%
CHX	C	0.08%	0.11%	0.08%
CMC	B	0.22%	0.06%	0.06%
CNO	B	0.58%	0.27%	0.27%
CNXN	D	0.11%	0.18%	0.11%
CPF	B	0.1%	0.23%	0.1%
CRC	A	0.72%	0.22%	0.22%
CRGY	A	0.27%	0.58%	0.27%
CTBI	B	0.11%	0.07%	0.07%
CVBF	A	0.04%	0.05%	0.04%
DAKT	B	0.11%	0.05%	0.05%
DIOD	F	0.16%	0.1%	0.1%
EBS	C	0.11%	0.09%	0.09%
ENS	D	0.26%	0.61%	0.26%
ETD	D	0.11%	0.14%	0.11%
EZPW	A	0.03%	0.23%	0.03%
FBK	B	0.03%	0.06%	0.03%
FBP	B	0.43%	0.28%	0.28%
FCF	B	0.2%	0.02%	0.02%
FDP	A	0.15%	0.08%	0.08%
FFBC	B	0.02%	0.1%	0.02%
FISI	B	0.05%	0.07%	0.05%
FLXS	A	0.03%	0.14%	0.03%
FNKO	D	0.04%	0.03%	0.03%
FRME	B	0.11%	0.18%	0.11%
FSTR	B	0.02%	0.02%	0.02%
FULT	B	0.33%	0.19%	0.19%
GATX	A	0.91%	0.01%	0.01%
GHC	B	0.02%	0.14%	0.02%
GIC	F	0.0%	0.06%	0.0%
GIII	F	0.23%	0.03%	0.03%
GNW	A	0.27%	0.33%	0.27%
GPRE	F	0.03%	0.02%	0.02%
GT	C	0.51%	0.39%	0.39%
HCI	C	0.09%	0.11%	0.09%
HLX	B	0.26%	0.23%	0.23%
HP	C	0.51%	0.25%	0.25%
HRTG	C	0.04%	0.07%	0.04%
HWC	B	0.52%	0.22%	0.22%
HWKN	B	0.21%	0.53%	0.21%
HY	D	0.07%	0.18%	0.07%
INDB	B	0.17%	0.1%	0.1%
JBSS	F	0.05%	0.02%	0.02%
JXN	C	0.9%	0.64%	0.64%
KBH	D	0.64%	0.2%	0.2%
KE	C	0.05%	0.07%	0.05%
KNF	B	0.01%	0.13%	0.01%
LKFN	B	0.03%	0.52%	0.03%
LMB	A	0.07%	0.17%	0.07%
LNTH	C	0.01%	0.07%	0.01%
LTH	D	0.01%	0.08%	0.01%
LYTS	B	0.03%	0.11%	0.03%
MATX	B	0.97%	0.32%	0.32%
MBWM	B	0.1%	0.03%	0.03%
MCB	B	0.08%	0.02%	0.02%
MCRI	A	0.17%	0.05%	0.05%
MCY	B	0.08%	0.03%	0.03%
MED	D	0.03%	0.03%	0.03%
MHO	D	0.69%	0.59%	0.59%
MRC	B	0.14%	0.08%	0.08%
MRTN	D	0.17%	0.23%	0.17%
MSBI	B	0.07%	0.04%	0.04%
MTDR	B	0.12%	0.51%	0.12%
MTH	D	0.16%	0.3%	0.16%
MUR	D	0.23%	0.19%	0.19%
MWA	B	0.01%	0.6%	0.01%
MYE	F	0.03%	0.07%	0.03%
NBR	D	0.11%	0.24%	0.11%
NBTB	B	0.09%	0.07%	0.07%
NFBK	B	0.05%	0.15%	0.05%
NGVC	A	0.08%	0.1%	0.08%
NMIH	C	0.39%	0.33%	0.33%
NWBI	B	0.11%	0.57%	0.11%
ODP	F	0.14%	0.09%	0.09%
OFG	B	0.26%	0.15%	0.15%
OIS	B	0.02%	0.05%	0.02%
OPEN	F	0.19%	0.07%	0.07%
OPY	B	0.06%	0.05%	0.05%
OSCR	D	0.06%	0.1%	0.06%
PAHC	B	0.08%	0.05%	0.05%
PAYO	A	0.2%	0.65%	0.2%
PBYI	C	0.02%	0.02%	0.02%
PCRX	C	0.0%	0.08%	0.0%
PDCO	F	0.15%	0.02%	0.02%
PFS	B	0.14%	0.31%	0.14%
PGC	A	0.06%	0.07%	0.06%
PLAB	C	0.27%	0.22%	0.22%
PLPC	B	0.02%	0.25%	0.02%
PLXS	B	0.32%	0.23%	0.23%
PRG	B	0.16%	0.54%	0.16%
PTGX	D	0.14%	0.08%	0.08%
RCKY	F	0.02%	0.02%	0.02%
REPX	A	0.06%	0.12%	0.06%
RIG	D	0.11%	0.01%	0.01%
RM	D	0.02%	0.06%	0.02%
RMAX	D	0.01%	0.03%	0.01%
SANM	B	0.4%	0.39%	0.39%
SCS	B	0.21%	0.08%	0.08%
SF	B	0.01%	0.32%	0.01%
SFBS	B	0.08%	0.18%	0.08%
SFL	D	0.19%	0.02%	0.02%
SFM	B	0.71%	0.97%	0.71%
SHEN	F	0.02%	0.03%	0.02%
SKYW	B	0.83%	0.69%	0.69%
SLVM	B	0.46%	0.18%	0.18%
SNEX	A	0.33%	0.25%	0.25%
SRCE	B	0.03%	0.13%	0.03%
STBA	B	0.16%	0.03%	0.03%
STNE	F	0.13%	0.03%	0.03%
STNG	D	0.45%	0.15%	0.15%
SUPN	B	0.22%	0.02%	0.02%
SXC	A	0.2%	0.28%	0.2%
TCBK	B	0.11%	0.02%	0.02%
TDS	B	0.55%	0.17%	0.17%
TEX	D	0.52%	0.34%	0.34%
TILE	A	0.26%	0.22%	0.22%
TMHC	C	0.1%	0.47%	0.1%
TNC	F	0.05%	0.19%	0.05%
TPH	D	0.37%	0.34%	0.34%
TRN	B	0.38%	0.26%	0.26%
UCB	A	0.03%	0.14%	0.03%
UFPI	C	0.07%	0.03%	0.03%
UMBF	B	0.6%	0.34%	0.34%
URBN	D	0.45%	0.08%	0.08%
USLM	B	0.04%	0.03%	0.03%
UVE	A	0.07%	0.04%	0.04%
UVSP	B	0.1%	0.03%	0.03%
VBTX	B	0.12%	0.09%	0.09%
VNDA	C	0.01%	0.05%	0.01%
VREX	B	0.0%	0.29%	0.0%
VRTS	B	0.07%	0.14%	0.07%
VTOL	B	0.1%	0.1%	0.1%
WABC	B	0.18%	0.21%	0.18%
WKC	C	0.16%	0.14%	0.14%
WMK	B	0.18%	0.07%	0.07%
WSBF	B	0.01%	0.07%	0.01%
XBIT	F	0.0%	0.01%	0.0%
ZEUS	C	0.07%	0.12%	0.07%
ZIMV	F	0.04%	0.02%	0.02%

AVUV Overweight 548 Positions Relative to FESM

Symbol	Grade	Weight
MLI	B	0.94%
ALK	A	0.9%
HRI	C	0.88%
SM	C	0.83%
AL	B	0.8%
CNX	A	0.78%
IDCC	B	0.77%
CBT	C	0.74%
MGY	A	0.73%
R	B	0.73%
DXC	C	0.69%
SLM	A	0.69%
NOG	A	0.65%
RDN	D	0.64%
HCC	B	0.64%
POWL	C	0.59%
HOG	F	0.58%
SIG	C	0.58%
OZK	B	0.54%
BTU	B	0.54%
THO	C	0.54%
MARA	B	0.54%
M	F	0.54%
MDU	D	0.54%
ARCH	B	0.53%
LBRT	F	0.51%
AVT	C	0.51%
COLB	B	0.5%
IBOC	B	0.48%
AMR	C	0.46%
AGO	A	0.45%
BHF	B	0.45%
PTEN	C	0.43%
WERN	B	0.42%
BFH	B	0.42%
ONB	B	0.42%
VSTO	A	0.41%
AXS	A	0.39%
HUBG	A	0.39%
OII	B	0.39%
KSS	F	0.39%
MTG	C	0.38%
SATS	D	0.38%
VLY	B	0.38%
PHIN	A	0.38%
LCII	C	0.37%
COLM	C	0.37%
ATKR	D	0.37%
KMT	C	0.37%
PSMT	D	0.36%
AGX	B	0.36%
INSW	F	0.36%
ARCB	C	0.36%
PLUS	F	0.36%
TBBK	B	0.35%
BKU	A	0.35%
JWN	D	0.35%
VSH	F	0.34%
WAFD	B	0.33%
WD	D	0.33%
PINC	B	0.33%
GBX	B	0.33%
CAKE	B	0.32%
FNB	B	0.31%
PII	F	0.31%
TCBI	B	0.31%
HEES	C	0.31%
STRL	B	0.3%
ESGR	B	0.29%
ANDE	F	0.29%
SNV	B	0.29%
KOS	D	0.29%
WSFS	B	0.28%
ATSG	A	0.28%
BANR	B	0.28%
JBLU	F	0.28%
CRI	F	0.28%
PBF	D	0.28%
TALO	C	0.27%
ASB	B	0.27%
LZB	B	0.27%
GVA	A	0.27%
LPX	B	0.27%
WTFC	B	0.27%
FYBR	C	0.25%
EFSC	B	0.25%
CASH	B	0.25%
ASO	F	0.24%
BKE	B	0.23%
CUBI	C	0.23%
AGM	B	0.23%
CRK	A	0.22%
ESNT	D	0.22%
PFSI	D	0.22%
WTTR	A	0.22%
CENTA	C	0.22%
TTMI	B	0.22%
HHH	B	0.22%
VC	F	0.22%
DHT	D	0.21%
PRDO	B	0.21%
BPOP	C	0.21%
OMF	A	0.21%
NTB	B	0.21%
ALGT	C	0.21%
UNFI	A	0.2%
SPNT	A	0.2%
DAN	F	0.2%
CIVI	F	0.2%
BXC	B	0.2%
AAP	D	0.2%
LPG	F	0.19%
TPC	C	0.19%
CAL	F	0.19%
OXM	F	0.19%
SCSC	B	0.19%
WGO	D	0.19%
IRDM	F	0.19%
IMKTA	C	0.18%
QCRH	B	0.18%
KRP	B	0.18%
KALU	C	0.18%
SASR	B	0.18%
GLNG	D	0.17%
SCL	D	0.17%
HOPE	B	0.17%
HRMY	F	0.17%
TRMK	B	0.17%
CC	C	0.17%
SNDR	A	0.17%
FL	F	0.16%
USM	B	0.16%
DOLE	D	0.16%
JELD	F	0.15%
WOR	F	0.15%
NAVI	F	0.15%
EIG	B	0.15%
PLYA	B	0.15%
OEC	C	0.15%
PVH	D	0.14%
HTLF	B	0.14%
UAA	C	0.14%
DCOM	A	0.14%
TOWN	B	0.14%
PARR	F	0.14%
WNC	D	0.14%
LC	B	0.14%
CBRL	C	0.14%
BELFB	D	0.14%
NX	C	0.14%
AM	A	0.14%
GNK	C	0.13%
BJRI	C	0.13%
OCFC	B	0.13%
PEBO	B	0.13%
PUMP	D	0.13%
PFC	B	0.12%
PLMR	A	0.12%
NBHC	B	0.12%
CABO	B	0.12%
BRKL	B	0.12%
INVA	D	0.12%
MBUU	C	0.12%
RYI	C	0.12%
CARS	C	0.12%
KLG	D	0.12%
OBK	B	0.11%
MTUS	D	0.11%
SCVL	F	0.11%
EGY	F	0.11%
ASIX	B	0.11%
ACT	D	0.11%
GAP	D	0.11%
SGHC	A	0.11%
WAL	B	0.11%
PPBI	B	0.11%
CNOB	B	0.11%
DNOW	B	0.11%
HAFC	B	0.1%
SNCY	C	0.1%
FMBH	B	0.1%
REX	D	0.1%
MBIN	F	0.1%
OSBC	A	0.1%
SPTN	F	0.1%
PAGS	F	0.1%
NR	B	0.1%
PATK	C	0.1%
IBCP	B	0.1%
RYAM	C	0.1%
AMRC	F	0.1%
SCHL	F	0.09%
NBN	B	0.09%
SYBT	B	0.09%
IIIN	C	0.09%
CLW	F	0.09%
MATV	F	0.09%
IBTX	B	0.09%
FOR	F	0.09%
THG	A	0.09%
TROX	D	0.09%
UTI	B	0.09%
ZION	B	0.09%
RES	D	0.09%
GES	F	0.09%
EGBN	B	0.09%
CLVT	D	0.08%
SWBI	D	0.08%
NNI	D	0.08%
BFST	B	0.08%
FBMS	B	0.08%
HOV	D	0.08%
TGLS	B	0.08%
TRST	B	0.08%
MCS	B	0.08%
ENLC	A	0.08%
ANET	D	0.08%
BBW	B	0.08%
SMP	C	0.08%
KLIC	C	0.08%
NTGR	B	0.08%
NAT	F	0.08%
GLDD	B	0.08%
ALIT	C	0.08%
CFB	B	0.08%
CVI	D	0.07%
CCNE	B	0.07%
AMKR	F	0.07%
HTBK	B	0.07%
GRNT	B	0.07%
SEB	F	0.07%
SMBC	B	0.07%
GSBC	B	0.07%
HTLD	C	0.07%
LOVE	A	0.07%
PFBC	B	0.07%
SKWD	A	0.07%
WASH	B	0.07%
CMRE	B	0.07%
KELYA	F	0.07%
LXU	C	0.07%
RDUS	C	0.07%
RBCAA	B	0.07%
ACCO	B	0.06%
AROW	B	0.06%
CVGW	D	0.06%
AMBC	C	0.06%
SD	D	0.06%
CCB	A	0.06%
IESC	B	0.06%
CCRN	F	0.06%
THFF	B	0.06%
EBF	F	0.06%
HTH	C	0.06%
ESQ	B	0.06%
ULH	B	0.06%
UA	C	0.06%
DDS	B	0.06%
HTBI	B	0.06%
VTLE	C	0.06%
LXFR	B	0.05%
SIGA	F	0.05%
APEI	B	0.05%
USNA	C	0.05%
VSAT	F	0.05%
BRY	F	0.05%
SB	F	0.05%
ARHS	D	0.05%
GDOT	D	0.05%
SBSI	B	0.05%
AMTB	B	0.05%
MCBS	B	0.05%
NRIM	A	0.05%
HVT	F	0.05%
THRM	F	0.05%
SPFI	B	0.05%
ORRF	B	0.05%
MCFT	C	0.05%
GPOR	A	0.05%
OSUR	F	0.05%
SMBK	B	0.05%
CVEO	D	0.05%
WTM	A	0.05%
ODC	C	0.05%
FFIC	B	0.05%
HPK	C	0.05%
FG	B	0.05%
BHB	B	0.05%
HBNC	B	0.05%
SBLK	F	0.05%
CAC	B	0.05%
METC	C	0.05%
NWPX	A	0.05%
USAP	B	0.05%
GDEN	B	0.05%
RGR	F	0.04%
CARE	B	0.04%
VIRC	C	0.04%
CENT	C	0.04%
AMCX	C	0.04%
DBI	F	0.04%
LRN	A	0.04%
FSBC	B	0.04%
GCO	C	0.04%
CHCO	B	0.04%
HNRG	B	0.04%
HTZ	C	0.04%
MPB	B	0.04%
MOV	D	0.04%
CLF	F	0.04%
VLGEA	C	0.04%
ASH	F	0.04%
RBB	B	0.04%
TWI	F	0.04%
DXLG	D	0.03%
ACIC	B	0.03%
XPRO	F	0.03%
ORN	B	0.03%
TMP	B	0.03%
CNDT	C	0.03%
BANC	B	0.03%
NATR	B	0.03%
IPI	B	0.03%
CENX	B	0.03%
LOB	C	0.03%
NUS	C	0.03%
PKOH	B	0.03%
KRT	B	0.03%
DHIL	A	0.03%
RNGR	A	0.03%
EBC	B	0.03%
WRLD	D	0.03%
GRBK	D	0.03%
HFWA	B	0.03%
LE	D	0.03%
SHBI	B	0.03%
CRCT	F	0.03%
MOFG	B	0.03%
VPG	F	0.03%
SGC	C	0.03%
FLIC	B	0.03%
TH	C	0.03%
PANL	F	0.03%
AMPY	F	0.03%
SFNC	B	0.03%
GLRE	B	0.03%
FLWS	D	0.03%
JAKK	C	0.03%
HSII	B	0.03%
GHM	A	0.02%
IMMR	F	0.02%
VRA	D	0.02%
PUBM	C	0.02%
EPM	A	0.02%
HBCP	B	0.02%
LEGH	D	0.02%
ESOA	A	0.02%
FRBA	D	0.02%
FBNC	B	0.02%
RICK	C	0.02%
BFC	B	0.02%
IMXI	B	0.02%
WTBA	B	0.02%
HBT	B	0.02%
CMA	B	0.02%
HIFS	B	0.02%
ALRS	D	0.02%
CASS	B	0.02%
MNTK	F	0.02%
BMRC	B	0.02%
UNTY	B	0.02%
CIVB	B	0.02%
CMT	F	0.02%
LEA	F	0.02%
ACDC	C	0.02%
KODK	B	0.02%
TCBX	A	0.02%
MERC	F	0.02%
EQBK	B	0.02%
FFWM	C	0.02%
SFST	B	0.02%
SAFT	B	0.02%
HBB	F	0.02%
HOFT	C	0.02%
FIBK	A	0.02%
INBK	B	0.02%
PRA	B	0.02%
HONE	B	0.02%
FIVE	F	0.02%
FSBW	B	0.02%
WLFC	C	0.02%
NEU	D	0.02%
FMNB	B	0.02%
SWIM	C	0.02%
MEI	F	0.02%
FIGS	F	0.02%
REI	F	0.02%
TTI	B	0.02%
TBI	F	0.02%
HDSN	F	0.02%
FBIZ	A	0.02%
ACNB	B	0.02%
BWB	B	0.02%
UBFO	A	0.01%
MTRX	A	0.01%
EVC	C	0.01%
BSET	C	0.01%
PWOD	A	0.01%
BSVN	A	0.01%
KRO	F	0.01%
COFS	A	0.01%
TSBK	A	0.01%
KEQU	B	0.01%
SONO	C	0.01%
FRST	B	0.01%
FCBC	B	0.01%
LSEA	F	0.01%
KLXE	C	0.01%
CBNK	B	0.01%
ISTR	B	0.01%
OPBK	B	0.01%
BWFG	B	0.01%
NC	C	0.01%
LFVN	C	0.01%
LCUT	F	0.01%
JRVR	F	0.01%
LWAY	C	0.01%
MPAA	B	0.01%
ATLC	A	0.01%
GABC	B	0.01%
IBEX	A	0.01%
FUNC	B	0.01%
CBAN	B	0.01%
BCML	B	0.01%
APLD	B	0.01%
METCB	D	0.01%
VEL	A	0.01%
ACTG	F	0.01%
PKBK	B	0.01%
GNTY	A	0.01%
FLL	F	0.01%
GEOS	C	0.01%
ACU	C	0.01%
UFCS	A	0.01%
KFRC	D	0.01%
LNN	B	0.01%
ITIC	A	0.01%
TTSH	D	0.01%
ALTG	C	0.01%
HMST	F	0.01%
EBTC	B	0.01%
MFIN	B	0.01%
NGS	A	0.01%
SRI	F	0.01%
EVBN	B	0.01%
FF	F	0.01%
PCB	B	0.01%
BELFA	D	0.01%
CVGI	F	0.01%
RLGT	B	0.01%
CLAR	F	0.01%
NNBR	C	0.01%
MVBF	C	0.01%
MYRG	C	0.01%
MTW	C	0.01%
TAYD	F	0.01%
AVO	B	0.01%
HMN	B	0.01%
UEIC	B	0.01%
BCBP	B	0.01%
TG	D	0.01%
KRNY	B	0.01%
OBT	B	0.01%
MEC	F	0.01%
CPHC	C	0.0%
AVNW	F	0.0%
MRBK	A	0.0%
NKSH	C	0.0%
SRTS	A	0.0%
MNSB	C	0.0%
WNEB	A	0.0%
KVHI	B	0.0%
PLBC	A	0.0%
ECPG	C	0.0%
FGBI	A	0.0%
ESCA	B	0.0%
IPGP	D	0.0%
MYFW	B	0.0%
UTMD	F	0.0%
LAKE	B	0.0%
ATLO	D	0.0%
VABK	B	0.0%
KOP	C	0.0%
FDBC	C	0.0%
CNTY	B	0.0%
PVBC	B	0.0%
AOUT	B	0.0%
WOW	C	0.0%
PHX	A	0.0%
PDEX	B	0.0%
BCAL	A	0.0%
NEWT	B	0.0%
WEYS	C	0.0%
OB	B	0.0%
MYPS	C	0.0%
LPRO	C	0.0%
ZUMZ	C	0.0%
DLTH	D	0.0%
UFI	F	0.0%
CSPI	C	0.0%
SPWH	F	0.0%
NWFL	C	0.0%
TBNK	B	0.0%
CZFS	B	0.0%
NIC	B	0.0%
VHI	D	0.0%
RRBI	A	0.0%
FVCB	C	0.0%
CRD.B	C	0.0%
EML	D	0.0%
CHMG	B	0.0%
QUAD	C	0.0%
FONR	F	0.0%
EPSN	A	0.0%
CCRD	A	0.0%
PFIS	B	0.0%
KINS	A	0.0%
CFFI	A	0.0%
CATO	B	0.0%
PEBK	B	0.0%
CBFV	A	0.0%
RVSB	B	0.0%
OVLY	B	0.0%
ASTE	C	0.0%
BOOM	F	0.0%
HWBK	B	0.0%
FNLC	B	0.0%
TWIN	F	0.0%
PNRG	A	0.0%
PYXS	C	0.0%
FET	F	0.0%
CPSS	B	0.0%
FRAF	A	0.0%
BFIN	A	0.0%
SEG	B	0.0%
MPX	C	0.0%
OLPX	D	0.0%
STKS	F	0.0%

AVUV Underweight 393 Positions Relative to FESM

Symbol	Grade	Weight
LUMN	C	-0.86%
CRS	A	-0.81%
QTWO	A	-0.8%
CVLT	A	-0.77%
FN	C	-0.74%
SPSC	D	-0.72%
BGC	C	-0.66%
CSGS	B	-0.59%
YELP	C	-0.58%
COMP	B	-0.58%
IBP	D	-0.57%
QLYS	C	-0.56%
MTX	C	-0.56%
EME	A	-0.55%
CVNA	B	-0.55%
FIX	A	-0.55%
EXLS	B	-0.54%
OUT	A	-0.53%
FUL	F	-0.52%
WT	A	-0.51%
VMEO	B	-0.51%
LMND	A	-0.51%
FHI	B	-0.5%
UPBD	C	-0.5%
FLR	B	-0.5%
AIR	B	-0.49%
IGT	F	-0.49%
MXL	C	-0.48%
AIT	B	-0.47%
ITRI	B	-0.47%
REZI	A	-0.46%
LANC	D	-0.45%
SIGI	C	-0.44%
CODI	B	-0.44%
INSM	C	-0.42%
BMI	B	-0.4%
MMSI	A	-0.4%
WTS	B	-0.39%
CMPR	F	-0.39%
ACA	A	-0.37%
UCTT	F	-0.37%
CBU	B	-0.37%
AAT	A	-0.36%
CRDO	C	-0.36%
BAND	D	-0.36%
PCVX	D	-0.36%
TENB	D	-0.36%
GH	B	-0.35%
CNMD	C	-0.35%
CECO	B	-0.35%
FFIN	B	-0.35%
VICR	C	-0.35%
PECO	B	-0.34%
ESRT	C	-0.34%
BBSI	A	-0.33%
YOU	D	-0.32%
SXT	C	-0.32%
ATI	C	-0.32%
ABM	B	-0.32%
STEP	B	-0.32%
COKE	C	-0.32%
EQC	A	-0.31%
SWX	A	-0.31%
KAR	B	-0.31%
KTOS	C	-0.31%
NJR	A	-0.3%
AWR	B	-0.3%
WOOF	D	-0.3%
GFF	A	-0.3%
EGHT	C	-0.29%
PHR	F	-0.29%
BDC	B	-0.29%
TRNO	D	-0.28%
LNW	F	-0.28%
WK	C	-0.28%
YEXT	B	-0.28%
RVMD	B	-0.26%
PRGS	B	-0.26%
CDP	D	-0.25%
MOG.A	B	-0.25%
HQY	A	-0.24%
PDFS	D	-0.24%
BCO	F	-0.24%
PSN	D	-0.24%
SHAK	C	-0.23%
EPAC	B	-0.23%
CORT	B	-0.23%
RNST	B	-0.22%
COMM	D	-0.22%
CRAI	B	-0.22%
GEO	A	-0.22%
MAC	A	-0.22%
AORT	B	-0.22%
ROCK	D	-0.21%
AXGN	D	-0.21%
RNA	C	-0.21%
PBH	A	-0.21%
HALO	F	-0.21%
SJW	F	-0.21%
HURN	B	-0.21%
OI	D	-0.21%
CTRE	C	-0.2%
HNI	A	-0.2%
BL	C	-0.2%
HSTM	B	-0.2%
ZUO	B	-0.2%
CWT	C	-0.2%
PBI	C	-0.19%
HL	C	-0.19%
SMTC	B	-0.19%
UBSI	B	-0.19%
RMBS	C	-0.19%
PD	C	-0.18%
SBH	B	-0.18%
PJT	B	-0.18%
CADE	B	-0.18%
PRO	C	-0.18%
XRX	F	-0.18%
AVNS	F	-0.18%
VRE	A	-0.18%
ARLO	C	-0.17%
IRTC	C	-0.17%
CSWI	B	-0.17%
PRK	B	-0.17%
DCO	B	-0.17%
PTCT	B	-0.17%
FLNC	C	-0.17%
INTA	A	-0.17%
TVTX	C	-0.16%
RYTM	C	-0.16%
EWTX	C	-0.16%
EXPI	C	-0.16%
DXPE	B	-0.16%
ALRM	C	-0.16%
BPMC	C	-0.16%
CYTK	D	-0.16%
DOMO	C	-0.15%
VCYT	B	-0.15%
WSBC	B	-0.15%
MDGL	C	-0.15%
DY	D	-0.15%
TRTX	B	-0.15%
SAH	B	-0.15%
CPS	C	-0.15%
OPCH	F	-0.14%
CPRX	C	-0.14%
AGIO	C	-0.14%
NRIX	C	-0.14%
HAE	C	-0.14%
TWST	F	-0.14%
FOLD	F	-0.14%
CNK	A	-0.14%
SRRK	B	-0.13%
ATRC	C	-0.13%
WSR	B	-0.13%
WS	B	-0.13%
CRNX	B	-0.13%
EXTR	C	-0.13%
SLG	B	-0.13%
BRC	C	-0.12%
DK	D	-0.12%
KREF	D	-0.12%
TRUP	B	-0.12%
AMRX	C	-0.12%
AMSC	C	-0.12%
FORM	F	-0.12%
KRYS	C	-0.11%
ACAD	C	-0.11%
ADMA	B	-0.11%
SKT	A	-0.11%
HCAT	F	-0.11%
DYN	D	-0.11%
OTTR	C	-0.11%
CDNA	D	-0.11%
UNIT	B	-0.11%
EAT	A	-0.11%
ALE	A	-0.1%
LADR	B	-0.1%
TRUE	C	-0.1%
GKOS	A	-0.1%
GMRE	F	-0.1%
AUB	B	-0.1%
ADUS	D	-0.1%
BCRX	D	-0.1%
KURA	F	-0.1%
ALTR	B	-0.1%
RDFN	F	-0.1%
TGTX	B	-0.09%
ADPT	C	-0.09%
AMBA	B	-0.09%
LGND	C	-0.09%
HLIT	F	-0.09%
RXRX	D	-0.09%
BCPC	B	-0.09%
MYGN	F	-0.09%
AGS	A	-0.09%
AUR	C	-0.09%
ARQT	B	-0.09%
ARAY	D	-0.08%
PRLB	B	-0.08%
FTDR	A	-0.08%
SGMO	C	-0.08%
CDMO	A	-0.08%
DEA	D	-0.08%
EGP	D	-0.08%
KTB	B	-0.08%
TDOC	C	-0.08%
MTRN	C	-0.08%
RUSHA	B	-0.08%
TCMD	B	-0.08%
AKBA	C	-0.08%
WVE	C	-0.08%
SSTK	F	-0.08%
FSS	B	-0.08%
SPT	C	-0.08%
PACB	D	-0.08%
LUNR	B	-0.07%
LIVN	D	-0.07%
CTKB	C	-0.07%
WEAV	B	-0.07%
NVAX	F	-0.07%
ORIC	F	-0.07%
KOD	B	-0.07%
HBI	A	-0.07%
JAMF	F	-0.07%
AXSM	B	-0.07%
SEM	B	-0.07%
LGF.A	C	-0.07%
IRWD	F	-0.07%
NUVB	C	-0.07%
PL	B	-0.07%
THR	B	-0.07%
DNLI	D	-0.07%
MEDP	F	-0.07%
REPL	C	-0.07%
BLKB	C	-0.07%
CDE	C	-0.07%
BSIG	A	-0.07%
COLL	F	-0.07%
BBIO	F	-0.07%
ANNX	F	-0.06%
ERAS	C	-0.06%
AKRO	C	-0.06%
RXO	C	-0.06%
UEC	B	-0.06%
TSHA	C	-0.06%
SNDX	F	-0.06%
RVNC	F	-0.06%
ARCT	F	-0.06%
APPN	C	-0.06%
IART	C	-0.06%
CDXS	B	-0.06%
TREE	F	-0.06%
CCCC	F	-0.06%
HURC	C	-0.06%
ARVN	F	-0.06%
AVD	C	-0.06%
CLDX	D	-0.06%
CERS	D	-0.06%
QTRX	F	-0.06%
NABL	F	-0.06%
EOLS	F	-0.06%
ETNB	D	-0.05%
ALLK	D	-0.05%
ACIW	B	-0.05%
SAGE	F	-0.05%
OABI	D	-0.05%
LGF.A	C	-0.05%
DSGN	C	-0.05%
TMCI	C	-0.05%
ATRO	D	-0.05%
ORGO	B	-0.05%
FLYW	B	-0.05%
MLNK	C	-0.05%
ZIP	D	-0.05%
UHT	D	-0.05%
ARWR	D	-0.05%
COGT	D	-0.05%
STRO	F	-0.05%
ABSI	F	-0.05%
EE	A	-0.05%
SNBR	F	-0.05%
ONTO	F	-0.05%
BOOT	D	-0.05%
TSVT	F	-0.04%
HRTX	F	-0.04%
MGNX	D	-0.04%
LPSN	F	-0.04%
ICFI	F	-0.04%
BLBD	F	-0.04%
BDTX	F	-0.04%
TNDM	D	-0.04%
TERN	F	-0.04%
NXRT	A	-0.04%
GERN	C	-0.04%
BRSP	C	-0.04%
CXM	C	-0.04%
BASE	C	-0.04%
NUVL	D	-0.04%
VYGR	F	-0.04%
CRVL	A	-0.04%
ALX	D	-0.04%
IOVA	F	-0.04%
KALV	F	-0.04%
IDYA	F	-0.04%
NPAB	F	-0.04%
ZNTL	D	-0.04%
COUR	F	-0.04%
NSSC	F	-0.04%
TXRH	B	-0.04%
PRTS	C	-0.03%
FIZZ	C	-0.03%
ANIK	D	-0.03%
KYMR	D	-0.03%
GCI	D	-0.03%
NPK	C	-0.03%
ACET	F	-0.03%
ENTA	F	-0.03%
CWCO	C	-0.03%
IDT	B	-0.03%
RLMD	F	-0.03%
YMAB	F	-0.03%
BEAM	D	-0.03%
BECN	B	-0.03%
ENSG	D	-0.03%
RLAY	F	-0.03%
VSCO	A	-0.03%
AXNX	A	-0.03%
RCKT	F	-0.03%
SANA	F	-0.03%
ACLX	C	-0.03%
HROW	D	-0.03%
ARRY	F	-0.03%
ETWO	F	-0.03%
HNST	A	-0.03%
CHGG	C	-0.03%
LMAT	A	-0.03%
NARI	C	-0.03%
HUMA	F	-0.03%
GRC	B	-0.03%
FATE	F	-0.03%
VCEL	A	-0.03%
EDIT	F	-0.03%
HIMS	C	-0.03%
CSR	B	-0.03%
ANGO	C	-0.02%
EB	C	-0.02%
UPLD	B	-0.02%
DIN	C	-0.02%
ONTF	C	-0.02%
TNYA	C	-0.02%
CTMX	F	-0.02%
SPNS	F	-0.02%
MQ	F	-0.02%
NTLA	F	-0.02%
DVAX	C	-0.02%
TNET	C	-0.02%
ABUS	D	-0.02%
SVRA	F	-0.02%
RAMP	C	-0.02%
NKTR	F	-0.02%
XNCR	B	-0.02%
SPOK	B	-0.02%
MRSN	C	-0.02%
PGEN	F	-0.02%
CRBU	D	-0.02%
PRAA	D	-0.02%
DOC	D	-0.02%
SWTX	C	-0.02%
TSE	F	-0.02%
ALHC	C	-0.02%
NKTX	F	-0.02%
ALEC	F	-0.02%
VERA	C	-0.02%
MDXG	B	-0.02%
ALT	C	-0.02%
KPTI	D	-0.02%
PKE	B	-0.02%
BOLT	F	-0.01%
CARA	D	-0.01%
WFRD	F	-0.01%
ALVR	F	-0.01%
INO	F	-0.01%
NOVA	F	-0.01%
ZDGE	F	-0.01%
FGEN	F	-0.01%
IMVT	F	-0.01%
CHRS	D	-0.01%
AVTE	C	-0.01%
SMMT	D	-0.01%
ADAP	F	-0.01%
SPCE	D	-0.01%
URGN	F	-0.01%