CVMC vs. ESML ETF Comparison

Comparison of Calvert US Mid-Cap Core Responsible Index ETF (CVMC) to iShares MSCI USA Small-Cap ESG Optimized ETF (ESML)

CVMC

Calvert US Mid-Cap Core Responsible Index ETF

CVMC Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities included in the underlying index. The index is composed of common stocks of mid-size companies that operate their businesses in a manner consistent with the Calvert Principles for Responsible Investment.

Grade (RS Rating)

Last Trade

$62.36

Average Daily Volume

1,915

Number of Holdings ^*

606

* may have additional holdings in another (foreign) market

ESML

iShares MSCI USA Small-Cap ESG Optimized ETF

ESML Description

The investment seeks to track the investment results of the MSCI USA Small Cap Extended ESG Focus Index. The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. The underlying index is an optimized equity index designed to produce investment results comparable to the MSCI USA Small Cap Index (the "parent index"), while reflecting a higher allocation than that of the parent index to U.S. small-capitalization companies with favorable ESG profiles. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.33

Average Daily Volume

103,044

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

Performance

Period	CVMC	ESML
30 Days	2.49%	4.67%
60 Days	6.76%	9.27%
90 Days	9.36%	13.89%
12 Months	30.45%	32.28%

270 Overlapping Holdings

	Symbol	Grade	Weight in CVMC	Weight in ESML	Overlap
	AAON	B	0.09%	0.22%	0.09%
	ABG	B	0.05%	0.12%	0.05%
	AFRM	B	0.13%	0.2%	0.13%
	AGCO	F	0.07%	0.13%	0.07%
	AGNC	C	0.07%	0.12%	0.07%
	AIT	A	0.12%	0.12%	0.12%
	AL	B	0.06%	0.1%	0.06%
	ALK	A	0.09%	0.22%	0.09%
	ALSN	A	0.12%	0.25%	0.12%
	ALTR	C	0.06%	0.15%	0.06%
	AMG	B	0.05%	0.18%	0.05%
	AN	C	0.04%	0.07%	0.04%
	ANF	D	0.06%	0.15%	0.06%
	APG	B	0.1%	0.06%	0.06%
	APLS	F	0.03%	0.03%	0.03%
	APPF	B	0.05%	0.11%	0.05%
	ARMK	B	0.11%	0.24%	0.11%
	ARW	F	0.06%	0.09%	0.06%
	ASH	F	0.05%	0.05%	0.05%
	ATI	D	0.12%	0.14%	0.12%
	ATKR	D	0.04%	0.09%	0.04%
	ATR	A	0.13%	0.25%	0.13%
	AVT	C	0.05%	0.28%	0.05%
	AWI	B	0.06%	0.23%	0.06%
	AXS	A	0.06%	0.18%	0.06%
	AXTA	A	0.1%	0.26%	0.1%
	AYI	B	0.11%	0.33%	0.11%
	AZEK	B	0.06%	0.13%	0.06%
	BBIO	F	0.04%	0.05%	0.04%
	BC	C	0.06%	0.08%	0.06%
	BCC	B	0.05%	0.16%	0.05%
	BCPC	B	0.07%	0.14%	0.07%
	BECN	B	0.06%	0.13%	0.06%
	BERY	C	0.09%	0.17%	0.09%
	BFAM	F	0.08%	0.23%	0.08%
	BILL	A	0.07%	0.1%	0.07%
	BJ	B	0.11%	0.27%	0.11%
	BLD	F	0.12%	0.28%	0.12%
	BMI	B	0.07%	0.29%	0.07%
	BPMC	B	0.07%	0.08%	0.07%
	BPOP	C	0.07%	0.07%	0.07%
	BRBR	A	0.08%	0.09%	0.08%
	BRKR	F	0.07%	0.15%	0.07%
	BRX	A	0.09%	0.16%	0.09%
	BWA	B	0.11%	0.18%	0.11%
	CADE	B	0.07%	0.13%	0.07%
	CASY	B	0.16%	0.52%	0.16%
	CBSH	A	0.08%	0.21%	0.08%
	CBT	C	0.07%	0.13%	0.07%
	CDP	C	0.04%	0.23%	0.04%
	CFLT	B	0.06%	0.14%	0.06%
	CFR	B	0.08%	0.09%	0.08%
	CGNX	C	0.08%	0.11%	0.08%
	CHE	D	0.09%	0.13%	0.09%
	CHH	B	0.04%	0.06%	0.04%
	CHWY	B	0.04%	0.07%	0.04%
	CIEN	B	0.1%	0.18%	0.1%
	CLH	B	0.15%	0.06%	0.06%
	CMA	A	0.09%	0.19%	0.09%
	CMC	B	0.14%	0.21%	0.14%
	CNM	D	0.09%	0.24%	0.09%
	COHR	B	0.15%	0.27%	0.15%
	COKE	C	0.07%	0.06%	0.06%
	COLD	F	0.08%	0.07%	0.07%
	COLM	B	0.03%	0.07%	0.03%
	COOP	B	0.06%	0.05%	0.05%
	CROX	F	0.06%	0.16%	0.06%
	CRUS	F	0.06%	0.15%	0.06%
	CUBE	D	0.12%	0.21%	0.12%
	CVLT	A	0.08%	0.21%	0.08%
	CVNA	B	0.25%	0.48%	0.25%
	CW	B	0.16%	0.24%	0.16%
	CWAN	B	0.04%	0.05%	0.04%
	CWEN	D	0.03%	0.06%	0.03%
	CWEN	D	0.03%	0.07%	0.03%
	DAR	B	0.07%	0.19%	0.07%
	DBX	B	0.07%	0.16%	0.07%
	DCI	A	0.11%	0.25%	0.11%
	DLB	C	0.05%	0.16%	0.05%
	DOCS	B	0.05%	0.07%	0.05%
	DUOL	B	0.13%	0.18%	0.13%
	DY	C	0.06%	0.1%	0.06%
	EHC	A	0.11%	0.3%	0.11%
	ELAN	D	0.07%	0.15%	0.07%
	ELF	C	0.05%	0.12%	0.05%
	ENSG	C	0.09%	0.22%	0.09%
	EPRT	C	0.06%	0.18%	0.06%
	ESI	B	0.07%	0.14%	0.07%
	ESNT	D	0.06%	0.07%	0.06%
	ESTC	C	0.07%	0.16%	0.07%
	ETSY	C	0.06%	0.11%	0.06%
	EVR	B	0.11%	0.11%	0.11%
	EWBC	B	0.14%	0.39%	0.14%
	EXLS	B	0.07%	0.23%	0.07%
	EXPO	D	0.06%	0.06%	0.06%
	FAF	C	0.07%	0.16%	0.07%
	FCN	F	0.08%	0.2%	0.08%
	FELE	A	0.05%	0.21%	0.05%
	FHN	A	0.1%	0.21%	0.1%
	FIVE	F	0.04%	0.11%	0.04%
	FIX	B	0.17%	0.37%	0.17%
	FLO	F	0.05%	0.05%	0.05%
	FLS	B	0.09%	0.16%	0.09%
	FMC	F	0.09%	0.17%	0.09%
	FND	F	0.1%	0.22%	0.1%
	FOUR	B	0.06%	0.06%	0.06%
	FR	C	0.08%	0.09%	0.08%
	FRPT	B	0.08%	0.2%	0.08%
	FRT	C	0.1%	0.32%	0.1%
	FSS	C	0.06%	0.14%	0.06%
	GAP	B	0.05%	0.12%	0.05%
	GATX	A	0.06%	0.17%	0.06%
	GKOS	A	0.08%	0.17%	0.08%
	GL	B	0.09%	0.12%	0.09%
	GME	C	0.06%	0.19%	0.06%
	GMED	B	0.1%	0.1%	0.1%
	GPK	D	0.1%	0.27%	0.1%
	GTLS	A	0.08%	0.12%	0.08%
	GWRE	A	0.16%	0.43%	0.16%
	GXO	B	0.08%	0.16%	0.08%
	HALO	B	0.08%	0.13%	0.08%
	HAS	D	0.08%	0.21%	0.08%
	HCP	A	0.05%	0.1%	0.05%
	HOG	F	0.06%	0.2%	0.06%
	HQY	B	0.09%	0.15%	0.09%
	HRB	D	0.1%	0.2%	0.1%
	HXL	D	0.06%	0.14%	0.06%
	IBP	F	0.06%	0.11%	0.06%
	INGR	B	0.11%	0.45%	0.11%
	INSP	F	0.07%	0.1%	0.07%
	IONS	F	0.06%	0.05%	0.05%
	ITRI	B	0.06%	0.2%	0.06%
	ITT	A	0.14%	0.28%	0.14%
	IVZ	C	0.08%	0.25%	0.08%
	JAZZ	B	0.07%	0.15%	0.07%
	JEF	A	0.11%	0.1%	0.1%
	JHG	B	0.06%	0.49%	0.06%
	JLL	C	0.14%	0.38%	0.14%
	JXN	B	0.08%	0.15%	0.08%
	KBH	D	0.06%	0.22%	0.06%
	KD	A	0.06%	0.09%	0.06%
	KNSL	C	0.1%	0.18%	0.1%
	LAD	B	0.09%	0.21%	0.09%
	LBRDK	C	0.13%	0.07%	0.07%
	LEA	F	0.08%	0.11%	0.08%
	LECO	C	0.13%	0.2%	0.13%
	LEVI	F	0.02%	0.05%	0.02%
	LFUS	D	0.07%	0.14%	0.07%
	LNC	B	0.06%	0.09%	0.06%
	LPX	B	0.07%	0.17%	0.07%
	LSCC	D	0.08%	0.16%	0.08%
	LSTR	B	0.09%	0.21%	0.09%
	LYFT	B	0.05%	0.09%	0.05%
	M	D	0.04%	0.13%	0.04%
	MAT	C	0.06%	0.14%	0.06%
	MEDP	C	0.1%	0.15%	0.1%
	MHK	D	0.07%	0.07%	0.07%
	MKSI	C	0.08%	0.13%	0.08%
	MMS	D	0.06%	0.05%	0.05%
	MMSI	B	0.06%	0.15%	0.06%
	MOD	C	0.09%	0.15%	0.09%
	MOG.A	B	0.07%	0.23%	0.07%
	MORN	B	0.11%	0.18%	0.11%
	MSA	D	0.07%	0.17%	0.07%
	MTG	C	0.06%	0.23%	0.06%
	MTH	D	0.07%	0.18%	0.07%
	MTN	D	0.07%	0.2%	0.07%
	MTZ	B	0.1%	0.18%	0.1%
	NFG	C	0.06%	0.21%	0.06%
	NOVT	C	0.07%	0.19%	0.07%
	NSIT	F	0.05%	0.14%	0.05%
	NTNX	B	0.16%	0.34%	0.16%
	NVT	B	0.14%	0.19%	0.14%
	NXST	C	0.06%	0.1%	0.06%
	NYT	C	0.1%	0.18%	0.1%
	OGN	F	0.04%	0.09%	0.04%
	OHI	C	0.11%	0.2%	0.11%
	OLED	F	0.08%	0.09%	0.08%
	OLLI	C	0.06%	0.12%	0.06%
	OMF	A	0.06%	0.19%	0.06%
	ONB	B	0.07%	0.17%	0.07%
	ONTO	F	0.09%	0.23%	0.09%
	OPCH	F	0.04%	0.09%	0.04%
	ORI	A	0.08%	0.13%	0.08%
	OSK	B	0.09%	0.29%	0.09%
	OWL	B	0.12%	0.06%	0.06%
	OZK	B	0.05%	0.13%	0.05%
	PCTY	A	0.09%	0.2%	0.09%
	PEN	B	0.1%	0.17%	0.1%
	PFSI	D	0.03%	0.11%	0.03%
	PLNT	A	0.08%	0.17%	0.08%
	PNFP	B	0.09%	0.27%	0.09%
	PRI	A	0.09%	0.22%	0.09%
	PSN	B	0.05%	0.12%	0.05%
	PVH	C	0.05%	0.16%	0.05%
	R	A	0.09%	0.28%	0.09%
	RDN	C	0.05%	0.09%	0.05%
	REXR	F	0.1%	0.33%	0.1%
	RGA	A	0.14%	0.29%	0.14%
	RGEN	C	0.08%	0.17%	0.08%
	RH	C	0.05%	0.07%	0.05%
	RHI	B	0.09%	0.2%	0.09%
	RHP	B	0.07%	0.19%	0.07%
	RL	B	0.08%	0.09%	0.08%
	RMBS	B	0.06%	0.14%	0.06%
	RNR	D	0.13%	0.26%	0.13%
	RRX	C	0.14%	0.15%	0.14%
	RYAN	A	0.07%	0.14%	0.07%
	S	B	0.07%	0.12%	0.07%
	SAIA	B	0.21%	0.27%	0.21%
	SCI	B	0.14%	0.27%	0.14%
	SEE	C	0.06%	0.07%	0.06%
	SF	B	0.11%	0.16%	0.11%
	SFM	B	0.15%	0.43%	0.15%
	SIG	B	0.04%	0.1%	0.04%
	SIGI	B	0.06%	0.27%	0.06%
	SITE	D	0.06%	0.17%	0.06%
	SLM	B	0.05%	0.15%	0.05%
	SMAR	A	0.07%	0.14%	0.07%
	SNV	B	0.08%	0.28%	0.08%
	SNX	C	0.09%	0.08%	0.08%
	SOFI	B	0.12%	0.18%	0.12%
	SON	D	0.06%	0.12%	0.06%
	SPSC	D	0.07%	0.16%	0.07%
	SRPT	F	0.12%	0.21%	0.12%
	SSB	B	0.08%	0.26%	0.08%
	SSD	D	0.09%	0.1%	0.09%
	ST	F	0.06%	0.08%	0.06%
	STWD	D	0.06%	0.1%	0.06%
	SUM	C	0.14%	0.28%	0.14%
	SWX	B	0.05%	0.13%	0.05%
	TENB	C	0.05%	0.09%	0.05%
	THG	A	0.05%	0.17%	0.05%
	THO	B	0.08%	0.13%	0.08%
	TMHC	C	0.08%	0.18%	0.08%
	TNET	D	0.03%	0.07%	0.03%
	TOL	C	0.17%	0.27%	0.17%
	TPR	B	0.11%	0.25%	0.11%
	TPX	B	0.08%	0.13%	0.08%
	TREX	C	0.07%	0.07%	0.07%
	TRNO	D	0.06%	0.11%	0.06%
	TTEK	C	0.14%	0.2%	0.14%
	TXRH	A	0.14%	0.1%	0.1%
	UGI	D	0.06%	0.25%	0.06%
	UNM	A	0.12%	0.23%	0.12%
	USFD	A	0.17%	0.48%	0.17%
	VFC	C	0.07%	0.2%	0.07%
	VMI	B	0.08%	0.13%	0.08%
	VNO	C	0.08%	0.09%	0.08%
	VNT	B	0.06%	0.15%	0.06%
	VOYA	B	0.08%	0.16%	0.08%
	VRNS	D	0.06%	0.06%	0.06%
	WAL	B	0.1%	0.21%	0.1%
	WBS	A	0.1%	0.24%	0.1%
	WCC	B	0.09%	0.22%	0.09%
	WEX	D	0.08%	0.24%	0.08%
	WH	A	0.08%	0.14%	0.08%
	WHR	B	0.05%	0.19%	0.05%
	WING	D	0.1%	0.18%	0.1%
	WMS	F	0.13%	0.26%	0.13%
	WSC	F	0.08%	0.19%	0.08%
	WTFC	B	0.08%	0.07%	0.07%
	WTM	A	0.04%	0.13%	0.04%
	WTS	B	0.07%	0.2%	0.07%
	WWD	B	0.11%	0.19%	0.11%
	XPO	B	0.24%	0.32%	0.24%
	XRAY	F	0.05%	0.07%	0.05%
	ZI	D	0.04%	0.1%	0.04%
	ZION	B	0.08%	0.18%	0.08%
	ZWS	B	0.05%	0.21%	0.05%

CVMC Overweight 337 Positions Relative to ESML

	Symbol	Grade	Weight
	ADSK	A	0.62%
	URI	B	0.57%
	BK	B	0.56%
	TTD	B	0.55%
	AMP	A	0.54%
	FICO	B	0.51%
	FTNT	B	0.5%
	GWW	B	0.5%
	ALL	A	0.48%
	PAYX	B	0.48%
	CMI	A	0.48%
	FIS	B	0.47%
	VRT	B	0.47%
	D	D	0.47%
	PWR	B	0.46%
	AME	A	0.45%
	FAST	A	0.45%
	MSCI	B	0.44%
	KR	A	0.44%
	PRU	B	0.44%
	DAL	A	0.44%
	DFS	B	0.44%
	CCI	F	0.44%
	BKR	B	0.44%
	ODFL	B	0.44%
	IR	A	0.43%
	SQ	B	0.43%
	KMB	F	0.42%
	PEG	C	0.42%
	KVUE	B	0.41%
	NUE	C	0.41%
	CBRE	A	0.41%
	LEN	D	0.41%
	OTIS	C	0.41%
	IT	A	0.41%
	IQV	F	0.4%
	A	F	0.4%
	CTSH	A	0.4%
	CHTR	B	0.4%
	VMC	B	0.4%
	VRSK	A	0.4%
	EA	A	0.39%
	SYY	B	0.39%
	XEL	A	0.39%
	YUM	B	0.39%
	EXC	C	0.39%
	GEHC	F	0.38%
	GLW	C	0.38%
	SNOW	C	0.38%
	DDOG	B	0.38%
	AXON	B	0.37%
	MPWR	F	0.37%
	RMD	C	0.37%
	GIS	F	0.37%
	WAB	A	0.37%
	ROK	B	0.36%
	ACGL	D	0.36%
	TEAM	B	0.36%
	HPQ	B	0.36%
	ALNY	D	0.36%
	EXR	D	0.35%
	MTB	B	0.35%
	HUM	D	0.35%
	IDXX	D	0.35%
	ED	D	0.35%
	AVB	A	0.34%
	IRM	D	0.34%
	VEEV	B	0.33%
	WEC	B	0.33%
	CNC	F	0.33%
	HIG	C	0.33%
	EFX	D	0.33%
	LULU	C	0.32%
	CSGP	D	0.32%
	APP	B	0.32%
	SW	C	0.31%
	ARES	B	0.31%
	NDAQ	A	0.31%
	KEYS	C	0.31%
	DOV	A	0.31%
	WTW	A	0.31%
	PPG	F	0.31%
	XYL	D	0.31%
	MTD	F	0.31%
	ON	F	0.31%
	KHC	F	0.31%
	ANSS	B	0.3%
	NVR	D	0.3%
	HUBS	B	0.3%
	FITB	A	0.3%
	FTV	D	0.29%
	HUBB	B	0.29%
	RJF	A	0.29%
	VTR	C	0.29%
	EQR	C	0.29%
	PHM	D	0.29%
	BRO	A	0.29%
	HEI	B	0.29%
	TSCO	C	0.29%
	CDW	F	0.28%
	STT	B	0.28%
	STLD	B	0.28%
	DTE	D	0.28%
	HPE	B	0.28%
	HSY	D	0.28%
	NET	B	0.28%
	EBAY	C	0.28%
	AWK	D	0.28%
	BIIB	F	0.27%
	RBLX	B	0.27%
	TTWO	A	0.27%
	SYF	B	0.26%
	BAH	C	0.26%
	WST	B	0.26%
	EME	B	0.26%
	SBAC	D	0.26%
	BR	A	0.26%
	TYL	B	0.26%
	AEE	A	0.26%
	ILMN	C	0.26%
	FCNCA	B	0.26%
	CSL	B	0.25%
	WAT	A	0.25%
	VLTO	C	0.25%
	NTAP	D	0.25%
	TDY	A	0.25%
	TROW	B	0.25%
	DECK	B	0.24%
	CHD	B	0.24%
	PTC	B	0.24%
	WDC	D	0.24%
	ES	D	0.24%
	HBAN	B	0.24%
	STE	F	0.24%
	ZBH	C	0.24%
	PKG	B	0.24%
	CMS	C	0.23%
	TRU	D	0.23%
	IFF	F	0.23%
	OMC	B	0.23%
	K	A	0.23%
	RS	B	0.23%
	RF	B	0.23%
	LYV	B	0.22%
	DRI	B	0.22%
	ARE	F	0.22%
	WBD	B	0.22%
	LII	B	0.22%
	STX	D	0.22%
	LPLA	B	0.22%
	MKC	D	0.22%
	CINF	A	0.22%
	FDS	A	0.21%
	MOH	F	0.21%
	ZBRA	A	0.21%
	WSO	A	0.21%
	CFG	B	0.21%
	BALL	D	0.21%
	NRG	B	0.21%
	EXPD	D	0.21%
	ESS	C	0.21%
	JBHT	B	0.21%
	OC	A	0.21%
	SNA	A	0.21%
	ZM	B	0.21%
	LH	A	0.21%
	BAX	F	0.2%
	MAA	C	0.2%
	HOLX	D	0.2%
	TRMB	B	0.2%
	WY	F	0.2%
	IEX	B	0.2%
	CBOE	D	0.2%
	NTRS	A	0.2%
	MDB	C	0.2%
	PINS	F	0.2%
	DGX	A	0.19%
	UTHR	B	0.19%
	CLX	A	0.19%
	PFG	C	0.19%
	PNR	A	0.19%
	NI	A	0.18%
	TER	F	0.18%
	KIM	A	0.18%
	SUI	D	0.18%
	KEY	B	0.18%
	PODD	B	0.18%
	ZS	B	0.18%
	AVY	F	0.18%
	AVTR	F	0.17%
	VRSN	C	0.17%
	MAS	D	0.17%
	GEN	A	0.17%
	RVTY	C	0.17%
	INCY	B	0.17%
	DPZ	C	0.17%
	AMCR	D	0.17%
	BBY	D	0.17%
	GGG	B	0.17%
	PSTG	D	0.17%
	ALGN	F	0.17%
	ACM	B	0.17%
	CHRW	A	0.17%
	APTV	D	0.17%
	ULTA	C	0.17%
	DOC	C	0.17%
	MANH	C	0.17%
	FSLR	F	0.17%
	WRB	B	0.17%
	DOCU	B	0.16%
	UDR	C	0.16%
	ROL	B	0.16%
	AKAM	F	0.16%
	TWLO	A	0.16%
	DG	F	0.16%
	SWK	F	0.16%
	SSNC	C	0.16%
	ENTG	D	0.16%
	GPC	D	0.16%
	NDSN	B	0.16%
	LNT	C	0.16%
	REG	A	0.15%
	SWKS	F	0.15%
	CAG	F	0.15%
	WSM	F	0.15%
	DT	C	0.15%
	EG	D	0.15%
	BURL	C	0.15%
	JBL	C	0.15%
	EVRG	A	0.15%
	EQH	B	0.15%
	ELS	C	0.14%
	EMN	D	0.14%
	CPT	C	0.14%
	EL	F	0.14%
	HST	C	0.14%
	ALLE	D	0.14%
	FFIV	A	0.14%
	BXP	D	0.14%
	TW	C	0.14%
	PFGC	B	0.14%
	KNX	B	0.13%
	DAY	C	0.13%
	DLTR	F	0.13%
	IPG	F	0.13%
	CCK	D	0.13%
	TOST	A	0.13%
	LAMR	D	0.13%
	TECH	B	0.13%
	JNPR	D	0.13%
	SJM	F	0.13%
	BG	D	0.13%
	POOL	D	0.13%
	JKHY	C	0.13%
	WPC	F	0.13%
	NBIX	C	0.13%
	BMRN	F	0.13%
	CTLT	D	0.12%
	SMCI	F	0.12%
	MLI	B	0.12%
	CRL	C	0.12%
	PAYC	B	0.12%
	LW	C	0.12%
	Z	B	0.12%
	WTRG	C	0.12%
	AAL	B	0.12%
	OKTA	C	0.12%
	SNAP	C	0.12%
	DOX	C	0.11%
	EXEL	B	0.11%
	CNH	D	0.11%
	EXAS	F	0.11%
	CG	C	0.11%
	RPRX	F	0.11%
	AES	F	0.11%
	KMX	C	0.11%
	MKTX	C	0.11%
	EPAM	B	0.11%
	CE	F	0.11%
	HLI	B	0.1%
	HRL	F	0.1%
	RIVN	D	0.1%
	FBIN	F	0.1%
	CPB	F	0.1%
	TTC	F	0.1%
	MOS	D	0.1%
	ALLY	C	0.1%
	TFX	F	0.1%
	DKS	F	0.1%
	AOS	F	0.1%
	ALV	C	0.1%
	ESAB	B	0.09%
	ENPH	F	0.09%
	MIDD	C	0.09%
	ROKU	C	0.09%
	AFG	A	0.09%
	LKQ	D	0.09%
	HSIC	F	0.09%
	H	B	0.08%
	SKX	F	0.08%
	SAIC	C	0.08%
	STAG	D	0.08%
	UFPI	B	0.08%
	PARA	C	0.08%
	HLNE	B	0.08%
	BIO	C	0.08%
	DVA	C	0.08%
	SEIC	A	0.08%
	ACI	C	0.08%
	NNN	F	0.08%
	BBWI	C	0.07%
	KRG	B	0.07%
	IDA	A	0.07%
	CWST	A	0.07%
	G	B	0.07%
	QRVO	F	0.07%
	PB	B	0.07%
	TKR	F	0.06%
	FNB	A	0.06%
	BEN	C	0.06%
	QLYS	B	0.06%
	WMG	B	0.05%
	BCO	F	0.05%
	SLGN	A	0.05%
	CELH	F	0.05%
	POR	D	0.05%
	TPG	B	0.05%
	HOMB	A	0.05%
	MSM	B	0.04%
	LANC	C	0.04%
	EEFT	C	0.04%
	COTY	F	0.03%
	CACC	D	0.03%
	AGR	C	0.03%
	PAG	B	0.03%
	BOKF	B	0.03%
	ALGM	F	0.03%

CVMC Underweight 634 Positions Relative to ESML

	Symbol	Grade	Weight
	KBR	B	-0.41%
	FTI	B	-0.34%
	FLEX	B	-0.33%
	MUSA	B	-0.33%
	RGLD	C	-0.32%
	OGS	A	-0.31%
	IBKR	A	-0.29%
	BWXT	A	-0.28%
	GBCI	B	-0.28%
	CNX	B	-0.27%
	DTM	B	-0.27%
	NTRA	B	-0.26%
	CACI	C	-0.25%
	THC	B	-0.25%
	HRI	B	-0.25%
	UMBF	B	-0.25%
	PCVX	D	-0.25%
	MWA	B	-0.24%
	RRC	B	-0.24%
	NCLH	B	-0.24%
	PRGS	A	-0.23%
	FTAI	B	-0.22%
	GNRC	B	-0.22%
	FTDR	B	-0.22%
	CUZ	C	-0.22%
	AA	C	-0.21%
	HHH	B	-0.21%
	INSM	D	-0.21%
	EGP	C	-0.21%
	NJR	A	-0.21%
	LNW	F	-0.2%
	BDC	C	-0.2%
	AR	B	-0.2%
	CNO	B	-0.19%
	WK	B	-0.19%
	SNDR	B	-0.19%
	BHLB	B	-0.19%
	REZI	A	-0.19%
	ENLC	B	-0.19%
	FBP	B	-0.19%
	AVA	C	-0.19%
	RLI	A	-0.19%
	CR	B	-0.19%
	PR	C	-0.18%
	PCH	F	-0.18%
	GPI	A	-0.18%
	TGNA	B	-0.18%
	TKO	D	-0.17%
	VVV	B	-0.17%
	AEIS	C	-0.17%
	LUMN	B	-0.17%
	PLXS	C	-0.17%
	SPXC	B	-0.17%
	MDU	F	-0.17%
	WFRD	D	-0.16%
	UBSI	B	-0.16%
	FN	B	-0.16%
	CHX	D	-0.16%
	BANR	B	-0.16%
	ITCI	C	-0.16%
	BHE	C	-0.16%
	KNTK	B	-0.16%
	LAZ	C	-0.16%
	PCOR	B	-0.16%
	ASB	B	-0.16%
	CRS	B	-0.15%
	HNI	B	-0.15%
	CZR	F	-0.15%
	GTLB	B	-0.15%
	NOV	C	-0.15%
	ASGN	C	-0.15%
	MYRG	B	-0.15%
	AM	B	-0.15%
	KTB	B	-0.15%
	X	C	-0.15%
	TNL	A	-0.15%
	LNTH	F	-0.15%
	EAT	B	-0.15%
	ACIW	B	-0.15%
	SR	C	-0.14%
	VKTX	D	-0.14%
	ECG	C	-0.14%
	CHDN	C	-0.14%
	ACA	B	-0.14%
	IDCC	B	-0.14%
	KLIC	C	-0.14%
	PINC	A	-0.14%
	AVAV	C	-0.14%
	VLY	B	-0.14%
	FIBK	B	-0.14%
	TPH	D	-0.14%
	HIW	D	-0.14%
	PDCO	F	-0.14%
	CAVA	B	-0.13%
	CRDO	B	-0.13%
	CABO	B	-0.13%
	HASI	F	-0.13%
	EPAC	B	-0.13%
	LRN	B	-0.13%
	MUR	F	-0.13%
	IBCP	B	-0.13%
	ITGR	B	-0.13%
	HESM	D	-0.13%
	CPK	A	-0.13%
	CYTK	C	-0.13%
	KNF	C	-0.13%
	BOX	A	-0.13%
	CPF	B	-0.13%
	FYBR	D	-0.13%
	PRIM	B	-0.13%
	NXT	C	-0.12%
	BLKB	C	-0.12%
	YETI	C	-0.12%
	WHD	B	-0.12%
	WGO	B	-0.12%
	XENE	C	-0.12%
	SHOO	D	-0.12%
	MTX	B	-0.12%
	WERN	B	-0.12%
	LBRDA	C	-0.12%
	IRDM	C	-0.12%
	NPO	B	-0.12%
	COLB	B	-0.12%
	ADT	B	-0.12%
	DXC	B	-0.11%
	ACHC	F	-0.11%
	HAE	B	-0.11%
	SLG	C	-0.11%
	QTWO	A	-0.11%
	PATH	C	-0.11%
	LCII	C	-0.11%
	BHVN	C	-0.11%
	KOS	F	-0.11%
	VECO	F	-0.11%
	KRC	C	-0.11%
	WDFC	B	-0.11%
	CRNX	B	-0.11%
	CCOI	C	-0.11%
	ALTM	C	-0.11%
	FULT	B	-0.11%
	ORA	C	-0.11%
	ECPG	B	-0.11%
	ADC	A	-0.11%
	FLR	C	-0.11%
	DFIN	D	-0.11%
	STRL	B	-0.11%
	IMAX	C	-0.1%
	TDC	D	-0.1%
	POWL	B	-0.1%
	PRCT	C	-0.1%
	WEN	C	-0.1%
	VC	D	-0.1%
	CSGS	B	-0.1%
	MRCY	B	-0.1%
	SJW	F	-0.1%
	NWL	B	-0.1%
	CRC	B	-0.1%
	AMAL	B	-0.1%
	SCL	C	-0.1%
	KAR	B	-0.1%
	FA	D	-0.1%
	ERII	B	-0.1%
	AUB	B	-0.1%
	RVMD	B	-0.1%
	APAM	B	-0.1%
	ABCB	B	-0.1%
	RXO	C	-0.1%
	CVBF	B	-0.1%
	ALKS	B	-0.1%
	DNLI	B	-0.1%
	DRS	B	-0.1%
	FUL	F	-0.1%
	U	F	-0.1%
	PEGA	A	-0.1%
	RDUS	C	-0.1%
	EFSC	B	-0.1%
	HR	C	-0.09%
	MIR	C	-0.09%
	CRSP	D	-0.09%
	KFY	B	-0.09%
	EWTX	C	-0.09%
	UNIT	C	-0.09%
	CRVL	B	-0.09%
	ESE	B	-0.09%
	ABM	B	-0.09%
	ICFI	C	-0.09%
	AEO	F	-0.09%
	PJT	B	-0.09%
	MGRC	B	-0.09%
	AROC	B	-0.09%
	NMIH	C	-0.09%
	RDNT	B	-0.09%
	CURB	C	-0.09%
	SLAB	F	-0.09%
	SHAK	C	-0.09%
	TRN	B	-0.09%
	POST	D	-0.09%
	BRC	A	-0.09%
	AMED	F	-0.09%
	CAC	B	-0.09%
	DV	C	-0.09%
	UNFI	C	-0.08%
	TILE	B	-0.08%
	CWK	B	-0.08%
	PLMR	C	-0.08%
	PRKS	B	-0.08%
	AUR	D	-0.08%
	BWIN	D	-0.08%
	EVRI	A	-0.08%
	SPB	B	-0.08%
	TDS	B	-0.08%
	AZTA	F	-0.08%
	ALG	B	-0.08%
	BXMT	D	-0.08%
	ENOV	C	-0.08%
	ICUI	D	-0.08%
	RUN	F	-0.08%
	RNA	B	-0.08%
	SBRA	C	-0.08%
	BOH	B	-0.08%
	NTGR	B	-0.08%
	STC	C	-0.08%
	RNST	B	-0.08%
	TEX	D	-0.08%
	LBPH	A	-0.08%
	TARS	C	-0.08%
	PI	D	-0.08%
	LITE	A	-0.08%
	CNK	B	-0.08%
	GVA	B	-0.08%
	RKLB	B	-0.08%
	LNN	C	-0.08%
	HWC	B	-0.08%
	MAC	B	-0.08%
	MTSI	B	-0.08%
	JBT	A	-0.08%
	MNKD	C	-0.07%
	CART	C	-0.07%
	VITL	F	-0.07%
	MAN	F	-0.07%
	CLF	D	-0.07%
	VNOM	C	-0.07%
	PAYO	B	-0.07%
	W	F	-0.07%
	PAR	B	-0.07%
	CCS	F	-0.07%
	SG	C	-0.07%
	UPST	B	-0.07%
	KREF	D	-0.07%
	AVNT	B	-0.07%
	UEC	C	-0.07%
	PRGO	C	-0.07%
	MRUS	C	-0.07%
	CALX	F	-0.07%
	WD	D	-0.07%
	NARI	C	-0.07%
	AAT	C	-0.07%
	HBI	B	-0.07%
	PHAT	F	-0.07%
	PDM	D	-0.07%
	HAIN	F	-0.07%
	GT	C	-0.07%
	GTES	B	-0.07%
	PLUS	F	-0.07%
	COMP	B	-0.07%
	CCCS	B	-0.07%
	ENR	B	-0.07%
	PECO	A	-0.07%
	EYE	D	-0.07%
	VRDN	C	-0.07%
	XHR	B	-0.07%
	VAC	B	-0.07%
	AMN	F	-0.07%
	SONO	C	-0.07%
	VCTR	B	-0.07%
	BDN	D	-0.07%
	ROG	D	-0.07%
	INTA	B	-0.07%
	SASR	A	-0.07%
	HIMS	B	-0.07%
	ESRT	D	-0.07%
	SEM	B	-0.07%
	DEA	D	-0.07%
	KTOS	B	-0.07%
	WU	F	-0.07%
	ZD	B	-0.07%
	CTS	B	-0.07%
	VSEC	B	-0.07%
	AZZ	B	-0.07%
	IOSP	B	-0.07%
	TBBK	B	-0.07%
	INDB	B	-0.07%
	CLVT	F	-0.07%
	PRVA	B	-0.07%
	ACLX	B	-0.07%
	BL	B	-0.07%
	NWN	B	-0.07%
	IESC	B	-0.07%
	KOP	C	-0.07%
	PIPR	B	-0.07%
	MARA	C	-0.07%
	PLYA	B	-0.07%
	ATRC	B	-0.07%
	ALHC	C	-0.07%
	OUT	C	-0.07%
	SXT	B	-0.07%
	VVX	C	-0.07%
	AMWD	B	-0.07%
	RARE	D	-0.07%
	SFBS	B	-0.06%
	RBBN	B	-0.06%
	NRIX	B	-0.06%
	RNG	B	-0.06%
	ADUS	D	-0.06%
	VBTX	B	-0.06%
	SLVM	C	-0.06%
	CIVI	F	-0.06%
	ANDE	D	-0.06%
	CC	C	-0.06%
	PTCT	B	-0.06%
	PLUG	D	-0.06%
	VERA	B	-0.06%
	PPBI	B	-0.06%
	MHO	D	-0.06%
	GERN	D	-0.06%
	CRAI	B	-0.06%
	AORT	C	-0.06%
	EPR	D	-0.06%
	VRRM	F	-0.06%
	GH	B	-0.06%
	APGE	C	-0.06%
	SPR	F	-0.06%
	LCID	F	-0.06%
	PLAY	C	-0.06%
	NUVL	D	-0.06%
	ROCK	C	-0.06%
	OMCL	C	-0.06%
	PTGX	C	-0.06%
	EXP	B	-0.06%
	RUSHB	B	-0.06%
	ALKT	B	-0.06%
	IBOC	B	-0.06%
	SM	C	-0.06%
	PYCR	B	-0.06%
	JWN	B	-0.06%
	VERX	B	-0.06%
	MOV	C	-0.06%
	VVI	B	-0.06%
	CAKE	B	-0.06%
	IART	D	-0.06%
	FIVN	C	-0.06%
	JANX	C	-0.06%
	FROG	C	-0.06%
	ADMA	B	-0.06%
	LXP	C	-0.06%
	EWCZ	C	-0.06%
	FFIN	B	-0.06%
	HI	C	-0.06%
	KVYO	C	-0.06%
	LEG	F	-0.06%
	FUN	B	-0.06%
	TALO	C	-0.06%
	UFPT	C	-0.06%
	PNTG	D	-0.06%
	ELVN	C	-0.06%
	BYD	A	-0.06%
	PAHC	B	-0.06%
	VREX	C	-0.06%
	TDOC	C	-0.06%
	BOOT	D	-0.06%
	CBU	B	-0.06%
	PEB	D	-0.06%
	HELE	C	-0.06%
	MODG	F	-0.06%
	PK	B	-0.06%
	EE	B	-0.06%
	POWI	C	-0.06%
	HGV	B	-0.06%
	MBUU	C	-0.06%
	SMTC	B	-0.06%
	MDGL	C	-0.06%
	AVPT	B	-0.06%
	IRON	B	-0.06%
	HURN	B	-0.06%
	CLB	C	-0.06%
	OII	B	-0.06%
	RCM	B	-0.06%
	MASI	B	-0.06%
	JBGS	F	-0.06%
	FL	F	-0.06%
	ROIV	C	-0.06%
	BANC	B	-0.06%
	UPBD	B	-0.06%
	KROS	C	-0.06%
	IDYA	D	-0.06%
	VSCO	B	-0.06%
	HWKN	C	-0.06%
	CMP	D	-0.06%
	HAFC	B	-0.06%
	SKT	B	-0.06%
	KE	C	-0.06%
	GBX	A	-0.06%
	ENV	B	-0.06%
	CALM	B	-0.06%
	ZYME	B	-0.06%
	CLNE	C	-0.06%
	WRBY	B	-0.06%
	SATS	C	-0.06%
	NVST	C	-0.06%
	ALEC	C	-0.05%
	JAMF	F	-0.05%
	HZO	F	-0.05%
	KLG	D	-0.05%
	MLTX	B	-0.05%
	IMVT	D	-0.05%
	PFS	B	-0.05%
	DOCN	D	-0.05%
	ZEUS	C	-0.05%
	INVX	D	-0.05%
	ASAN	C	-0.05%
	PLOW	D	-0.05%
	CWT	D	-0.05%
	CUBI	B	-0.05%
	DNOW	B	-0.05%
	WOLF	F	-0.05%
	BEAM	C	-0.05%
	ARCB	C	-0.05%
	LESL	D	-0.05%
	LGF.A	F	-0.05%
	WNC	C	-0.05%
	BE	B	-0.05%
	DLX	A	-0.05%
	LOPE	B	-0.05%
	AHH	D	-0.05%
	NEP	F	-0.05%
	ACEL	B	-0.05%
	EPC	F	-0.05%
	RAMP	C	-0.05%
	GRBK	D	-0.05%
	TNDM	F	-0.05%
	CAR	C	-0.05%
	VSTS	D	-0.05%
	AMBC	C	-0.05%
	NEOG	F	-0.05%
	COGT	D	-0.05%
	DGII	B	-0.05%
	FLGT	F	-0.05%
	REVG	B	-0.05%
	FFBC	B	-0.05%
	FLG	D	-0.05%
	CDE	D	-0.05%
	THRM	F	-0.05%
	PBI	C	-0.05%
	MRC	B	-0.05%
	AGYS	B	-0.05%
	ICHR	C	-0.05%
	KELYA	F	-0.05%
	FRSH	B	-0.05%
	BNL	D	-0.05%
	SIBN	D	-0.05%
	NABL	F	-0.05%
	SNDX	D	-0.05%
	ASTE	B	-0.05%
	MNRO	B	-0.05%
	AGIO	B	-0.05%
	KMPR	A	-0.05%
	TGTX	B	-0.05%
	PSMT	C	-0.05%
	HL	D	-0.05%
	VYX	B	-0.05%
	INFA	D	-0.05%
	MTTR	B	-0.05%
	CPRX	B	-0.05%
	ETNB	D	-0.05%
	AVDX	B	-0.05%
	NEO	B	-0.05%
	UAA	B	-0.05%
	TGI	B	-0.05%
	WKC	D	-0.05%
	THS	F	-0.05%
	SHC	D	-0.05%
	MXL	C	-0.05%
	PGRE	B	-0.05%
	KSS	F	-0.05%
	OSCR	F	-0.05%
	ARVN	D	-0.05%
	RYN	F	-0.05%
	TROX	F	-0.05%
	PLRX	C	-0.05%
	WT	B	-0.05%
	SMPL	B	-0.05%
	FLYW	B	-0.05%
	ARKO	C	-0.05%
	TMDX	F	-0.05%
	ESTA	D	-0.05%
	AI	B	-0.05%
	PDFS	C	-0.05%
	SBH	C	-0.05%
	SKY	B	-0.05%
	GEF	A	-0.05%
	MLNK	C	-0.05%
	CNMD	C	-0.05%
	MMI	B	-0.05%
	EDR	C	-0.05%
	XPRO	F	-0.05%
	TWST	F	-0.05%
	AWR	B	-0.05%
	LIVN	C	-0.05%
	GEF	A	-0.05%
	NCNO	B	-0.05%
	SMP	B	-0.05%
	PRG	B	-0.05%
	HLIT	D	-0.05%
	ARQT	B	-0.05%
	VRTS	B	-0.05%
	SLNO	C	-0.05%
	BROS	B	-0.05%
	DCO	B	-0.05%
	VRNT	D	-0.05%
	NBHC	B	-0.05%
	ATEN	B	-0.05%
	PRO	C	-0.05%
	INFN	C	-0.05%
	CMCO	B	-0.05%
	EMBC	B	-0.05%
	MTRN	B	-0.05%
	ARWR	C	-0.05%
	AAP	D	-0.05%
	CBZ	B	-0.05%
	AIR	C	-0.05%
	GOGO	C	-0.05%
	ZUO	B	-0.05%
	AXSM	B	-0.05%
	YELP	C	-0.05%
	PBF	F	-0.05%
	PRAA	B	-0.05%
	AGO	B	-0.05%
	NBTB	B	-0.05%
	MPW	F	-0.05%
	RUSHA	B	-0.05%
	ATGE	B	-0.05%
	TNC	F	-0.05%
	RXST	F	-0.05%
	CSTL	C	-0.05%
	ACVA	C	-0.05%
	BGC	C	-0.05%
	BKU	B	-0.05%
	HAYW	C	-0.05%
	HCC	C	-0.05%
	RKT	F	-0.05%
	PD	C	-0.05%
	KYMR	C	-0.05%
	ETWO	D	-0.04%
	OMI	F	-0.04%
	CAL	D	-0.04%
	TXG	F	-0.04%
	FNA	B	-0.04%
	DK	D	-0.04%
	FORM	F	-0.04%
	CXM	C	-0.04%
	SAVA	D	-0.04%
	SVRA	F	-0.04%
	NUVB	B	-0.04%
	MEG	F	-0.04%
	MYGN	F	-0.04%
	SPT	C	-0.04%
	CCRN	F	-0.04%
	HOUS	F	-0.04%
	STAA	F	-0.04%
	XRX	F	-0.04%
	CLDX	F	-0.04%
	FOXF	F	-0.04%
	CRI	D	-0.04%
	UCB	B	-0.04%
	BRZE	C	-0.04%
	SWTX	D	-0.04%
	NTLA	F	-0.04%
	EGY	F	-0.04%
	ARCT	F	-0.04%
	MLKN	D	-0.04%
	RCUS	D	-0.04%
	KURA	D	-0.04%
	PRTA	F	-0.04%
	BRY	F	-0.04%
	CLW	F	-0.04%
	DYN	C	-0.04%
	PTEN	C	-0.04%
	FTRE	D	-0.04%
	HPP	F	-0.04%
	COUR	F	-0.04%
	AMC	C	-0.04%
	RCKT	F	-0.04%
	QS	F	-0.04%
	MTUS	C	-0.04%
	GO	C	-0.04%
	MEI	F	-0.04%
	CECO	D	-0.04%
	CGEM	F	-0.04%
	CLSK	C	-0.04%
	TMCI	C	-0.04%
	HLX	D	-0.04%
	ARLO	D	-0.04%
	BASE	C	-0.04%
	PENN	B	-0.04%
	AXL	C	-0.04%
	GPRE	F	-0.04%
	BKD	F	-0.04%
	MGNI	A	-0.04%
	IVR	D	-0.04%
	KRYS	B	-0.04%
	PGNY	F	-0.04%
	NVCR	B	-0.04%
	XPEL	C	-0.04%
	ALRM	C	-0.04%
	QDEL	F	-0.04%
	RXRX	C	-0.04%
	ANAB	F	-0.03%
	AGL	F	-0.03%
	VSAT	F	-0.03%
	ASPN	F	-0.03%
	MQ	F	-0.03%
	SITC	F	-0.03%
	CRMT	F	-0.03%
	CNXC	F	-0.03%
	CDNA	D	-0.03%
	SEDG	F	-0.03%
	CPRI	F	-0.03%
	NVAX	F	-0.03%
	JELD	F	-0.03%
	NOVA	F	-0.03%
	MAGN	F	-0.02%
	MC	B	-0.02%
	DEI	C	-0.02%
	GDOT	C	-0.01%

CVMC: Top Represented Industries & Keywords

Industries: Software - Application Banks - Regional - US Diversified Industrials Business Services Asset Management Biotechnology Software - Infrastructure Diagnostics & Research Packaged Foods Specialty Retail Utilities - Regulated Electric Scientific & Technical Instruments Building Materials Packaging & Containers Capital Markets Insurance - Property & Casualty Medical Instruments & Supplies REIT - Residential Engineering & Construction Information Technology Services

Keywords: S&P 500 Computing Nasdaq 100 Insurance Banking Bank Electronics Real Estate Investment Trust Chemical Aerospace Electricity Mining Natural Gas Building Materials Insurance Products Construction Beverage Medicine Telecommunications Semiconductor

ESML: Top Represented Industries & Keywords

Industries: Biotechnology Banks - Regional - US Software - Application Software - Infrastructure Diversified Industrials Business Services Diagnostics & Research Medical Devices Asset Management Building Materials Specialty Chemicals Specialty Retail Engineering & Construction Information Technology Services Oil & Gas E&P Oil & Gas Equipment & Services REIT - Diversified Auto Parts Electronic Components Aerospace & Defense

Keywords: Medicine Banking Bank Biopharmaceutical Real Estate Investment Trust Computing Chemical Natural Gas Biotechnology Cancer Deposit Products Mining Insurance Construction Telecommunications Aerospace Commercial Banking Electronics Real Estate Loans Transport