DES vs. AVUV ETF Comparison

Comparison of SmallCap Dividend Fund (DES) to Avantis U.S. Small Cap Value ETF (AVUV)

DES

SmallCap Dividend Fund

DES Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree SmallCap Dividend Index. Under normal circumstances, at least 95% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the U.S. dividend-paying market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$33.86

Average Daily Volume

107,421

Number of Holdings ^*

567

* may have additional holdings in another (foreign) market

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

$94.98

Average Daily Volume

683,140

Number of Holdings ^*

711

* may have additional holdings in another (foreign) market

Performance

Period	DES	AVUV
30 Days	-0.48%	-0.89%
60 Days	2.40%	3.63%
90 Days	6.46%	6.28%
12 Months	22.57%	22.30%

308 Overlapping Holdings

Symbol	Grade	Weight in DES	Weight in AVUV	Overlap
ABCB	C	0.18%	0.24%	0.18%
ACCO	B	0.13%	0.05%	0.05%
ACU	F	0.03%	0.01%	0.01%
AGM	F	0.16%	0.22%	0.16%
AGX	A	0.29%	0.3%	0.29%
ALRS	F	0.05%	0.02%	0.02%
ALTG	C	0.04%	0.01%	0.01%
AMAL	B	0.06%	0.1%	0.06%
AMSF	B	0.3%	0.01%	0.01%
AMTB	D	0.04%	0.04%	0.04%
ANDE	F	0.11%	0.31%	0.11%
ANET	A	0.14%	0.05%	0.05%
APOG	A	0.24%	0.28%	0.24%
ARCB	F	0.11%	0.34%	0.11%
ARCH	C	0.12%	0.48%	0.12%
AROC	D	0.64%	0.58%	0.58%
AROW	B	0.03%	0.05%	0.03%
ASB	A	0.46%	0.24%	0.24%
ASIX	B	0.11%	0.12%	0.11%
ASTE	C	0.09%	0.0%	0.0%
ATNI	F	0.07%	0.06%	0.06%
BANC	B	0.19%	0.09%	0.09%
BANF	B	0.26%	0.0%	0.0%
BANR	B	0.22%	0.27%	0.22%
BELFB	C	0.09%	0.15%	0.09%
BFC	B	0.05%	0.02%	0.02%
BFH	C	0.16%	0.39%	0.16%
BGS	C	0.17%	0.1%	0.1%
BHB	B	0.03%	0.05%	0.03%
BHE	A	0.22%	0.27%	0.22%
BHLB	B	0.1%	0.1%	0.1%
BKE	A	0.38%	0.22%	0.22%
BKU	D	0.26%	0.34%	0.26%
BMRC	B	0.03%	0.02%	0.02%
BOH	A	0.33%	0.28%	0.28%
BRKL	A	0.13%	0.1%	0.1%
BRY	D	0.11%	0.06%	0.06%
BSET	A	0.03%	0.01%	0.01%
BSRR	D	0.05%	0.02%	0.02%
BSVN	B	0.04%	0.01%	0.01%
BTU	A	0.17%	0.53%	0.17%
BUSE	D	0.14%	0.16%	0.14%
BY	C	0.07%	0.09%	0.07%
CABO	C	0.16%	0.11%	0.11%
CAC	A	0.06%	0.05%	0.05%
CAKE	A	0.3%	0.29%	0.29%
CAL	F	0.1%	0.19%	0.1%
CALM	B	0.16%	0.66%	0.16%
CASH	B	0.08%	0.24%	0.08%
CASS	B	0.04%	0.02%	0.02%
CATO	A	0.03%	0.0%	0.0%
CATY	B	0.48%	0.39%	0.39%
CBNK	B	0.02%	0.01%	0.01%
CBRL	C	0.27%	0.17%	0.17%
CCNE	B	0.05%	0.06%	0.05%
CHCO	C	0.19%	0.04%	0.04%
CIVB	A	0.03%	0.01%	0.01%
CLAR	D	0.04%	0.01%	0.01%
CNO	A	0.22%	0.55%	0.22%
CNOB	D	0.06%	0.11%	0.06%
CNXN	D	0.1%	0.12%	0.1%
CPF	C	0.08%	0.1%	0.08%
CRC	A	0.44%	0.71%	0.44%
CRGY	A	0.19%	0.26%	0.19%
CRI	F	0.41%	0.38%	0.38%
CSPI	F	0.03%	0.0%	0.0%
CTBI	B	0.15%	0.1%	0.1%
CVBF	B	0.31%	0.04%	0.04%
CVGW	B	0.07%	0.06%	0.06%
CVI	F	0.46%	0.09%	0.09%
DAN	F	0.13%	0.25%	0.13%
DBI	F	0.05%	0.05%	0.05%
DCOM	B	0.11%	0.13%	0.11%
DHIL	D	0.05%	0.03%	0.03%
EBC	C	0.31%	0.03%	0.03%
EBF	F	0.15%	0.06%	0.06%
EFSC	B	0.11%	0.24%	0.11%
EGBN	B	0.14%	0.09%	0.09%
EGY	F	0.15%	0.13%	0.13%
EIG	C	0.12%	0.15%	0.12%
EML	C	0.06%	0.0%	0.0%
ENS	F	0.23%	0.28%	0.23%
EPM	D	0.05%	0.02%	0.02%
EQBK	B	0.04%	0.02%	0.02%
ESCA	C	0.05%	0.0%	0.0%
ETD	F	0.17%	0.12%	0.12%
EVC	B	0.05%	0.01%	0.01%
FBIZ	D	0.02%	0.02%	0.02%
FBK	B	0.11%	0.03%	0.03%
FBMS	B	0.09%	0.08%	0.08%
FBNC	D	0.11%	0.02%	0.02%
FBP	D	0.49%	0.42%	0.42%
FCBC	D	0.08%	0.01%	0.01%
FCF	D	0.16%	0.2%	0.16%
FDBC	A	0.01%	0.0%	0.0%
FF	B	0.07%	0.01%	0.01%
FFBC	B	0.44%	0.02%	0.02%
FFIC	B	0.05%	0.05%	0.05%
FIBK	C	0.65%	0.02%	0.02%
FISI	D	0.08%	0.05%	0.05%
FLIC	D	0.04%	0.03%	0.03%
FMBH	D	0.05%	0.1%	0.05%
FMNB	D	0.04%	0.02%	0.02%
FRBA	D	0.02%	0.02%	0.02%
FRME	D	0.25%	0.1%	0.1%
FRST	F	0.03%	0.01%	0.01%
FSBC	B	0.04%	0.04%	0.04%
FSBW	C	0.03%	0.02%	0.02%
FULT	C	0.34%	0.31%	0.31%
GABC	A	0.15%	0.01%	0.01%
GBX	A	0.25%	0.32%	0.25%
GES	F	0.19%	0.1%	0.1%
GHC	A	0.16%	0.04%	0.04%
GIC	F	0.13%	0.01%	0.01%
GNTY	D	0.03%	0.01%	0.01%
GRNT	D	0.23%	0.07%	0.07%
GSBC	C	0.04%	0.07%	0.04%
GVA	A	0.2%	0.23%	0.2%
HAFC	A	0.08%	0.09%	0.08%
HBB	F	0.09%	0.03%	0.03%
HBNC	A	0.09%	0.05%	0.05%
HBT	D	0.08%	0.02%	0.02%
HCC	A	0.13%	0.62%	0.13%
HCI	B	0.05%	0.1%	0.05%
HEES	C	0.2%	0.32%	0.2%
HFWA	A	0.08%	0.03%	0.03%
HMN	A	0.14%	0.01%	0.01%
HOFT	C	0.04%	0.02%	0.02%
HONE	D	0.03%	0.02%	0.02%
HOPE	D	0.22%	0.17%	0.17%
HP	C	0.32%	0.52%	0.32%
HPK	F	0.08%	0.06%	0.06%
HRI	B	0.44%	0.9%	0.44%
HSII	A	0.13%	0.03%	0.03%
HTBK	D	0.09%	0.06%	0.06%
HTH	F	0.1%	0.06%	0.06%
HTLD	F	0.06%	0.07%	0.06%
HTLF	A	0.22%	0.13%	0.13%
HVT	F	0.1%	0.06%	0.06%
HWC	B	0.33%	0.49%	0.33%
HWKN	D	0.2%	0.22%	0.2%
HY	D	0.17%	0.09%	0.09%
IBCP	D	0.06%	0.09%	0.06%
IBOC	B	0.4%	0.45%	0.4%
IBTX	C	0.23%	0.07%	0.07%
IDCC	A	0.34%	0.65%	0.34%
IIIN	F	0.05%	0.09%	0.05%
IMKTA	D	0.06%	0.17%	0.06%
IMMR	F	0.08%	0.03%	0.03%
INBK	C	0.01%	0.02%	0.01%
INDB	B	0.27%	0.15%	0.15%
ISTR	A	0.02%	0.01%	0.01%
ITIC	B	0.07%	0.01%	0.01%
JBSS	F	0.18%	0.06%	0.06%
JWN	B	0.61%	0.37%	0.37%
KALU	C	0.25%	0.16%	0.16%
KELYA	D	0.08%	0.1%	0.08%
KFRC	D	0.15%	0.01%	0.01%
KFY	B	0.21%	0.03%	0.03%
KLG	F	0.31%	0.13%	0.13%
KLIC	B	0.17%	0.08%	0.08%
KMT	B	0.25%	0.34%	0.25%
KOP	F	0.06%	0.0%	0.0%
KRNY	B	0.05%	0.01%	0.01%
KRO	B	0.37%	0.01%	0.01%
KRT	A	0.13%	0.03%	0.03%
KSS	F	0.55%	0.44%	0.44%
LAKE	F	0.04%	0.0%	0.0%
LBRT	F	0.23%	0.54%	0.23%
LCII	D	0.37%	0.39%	0.37%
LCUT	F	0.03%	0.01%	0.01%
LKFN	C	0.12%	0.03%	0.03%
LNN	D	0.1%	0.01%	0.01%
LOB	D	0.07%	0.03%	0.03%
LYTS	A	0.1%	0.03%	0.03%
LZB	D	0.16%	0.27%	0.16%
MATX	A	0.25%	0.85%	0.25%
MBIN	F	0.07%	0.11%	0.07%
MBWM	D	0.08%	0.09%	0.08%
MCBS	C	0.08%	0.04%	0.04%
MCRI	A	0.2%	0.18%	0.18%
MCS	A	0.11%	0.06%	0.06%
MCY	B	0.31%	0.07%	0.07%
MEI	F	0.04%	0.02%	0.02%
METC	F	0.07%	0.05%	0.05%
MOV	D	0.06%	0.04%	0.04%
MPX	F	0.08%	0.01%	0.01%
MRTN	F	0.09%	0.16%	0.09%
MSBI	A	0.05%	0.06%	0.05%
MWA	A	0.28%	0.01%	0.01%
MYE	F	0.09%	0.03%	0.03%
NAVI	F	0.17%	0.16%	0.16%
NBHC	B	0.13%	0.12%	0.12%
NBN	A	0.03%	0.08%	0.03%
NBTB	D	0.18%	0.09%	0.09%
NC	A	0.05%	0.01%	0.01%
NFBK	C	0.05%	0.05%	0.05%
NGVC	B	0.16%	0.07%	0.07%
NIC	B	0.07%	0.0%	0.0%
NNI	A	0.13%	0.09%	0.09%
NOG	F	0.5%	0.64%	0.5%
NRIM	D	0.05%	0.04%	0.04%
NUS	F	0.06%	0.03%	0.03%
NWBI	D	0.32%	0.11%	0.11%
NX	C	0.08%	0.15%	0.08%
OBK	F	0.04%	0.1%	0.04%
OBT	D	0.01%	0.01%	0.01%
OCFC	C	0.15%	0.12%	0.12%
ODC	A	0.09%	0.06%	0.06%
OFG	C	0.18%	0.25%	0.18%
OPY	A	0.04%	0.05%	0.04%
ORRF	B	0.04%	0.05%	0.04%
OSBC	B	0.04%	0.09%	0.04%
OXM	F	0.15%	0.2%	0.15%
PAHC	B	0.11%	0.08%	0.08%
PATK	F	0.41%	0.11%	0.11%
PDCO	F	0.28%	0.17%	0.17%
PEBO	B	0.22%	0.13%	0.13%
PFBC	B	0.15%	0.06%	0.06%
PFC	B	0.12%	0.11%	0.11%
PFS	C	0.32%	0.14%	0.14%
PGC	A	0.05%	0.06%	0.05%
PHIN	C	0.32%	0.35%	0.32%
PHX	C	0.04%	0.0%	0.0%
PINC	B	0.34%	0.3%	0.3%
PKOH	D	0.08%	0.03%	0.03%
PLBC	A	0.01%	0.0%	0.0%
PLPC	C	0.06%	0.02%	0.02%
POWL	A	0.3%	0.46%	0.3%
PPBI	C	0.36%	0.12%	0.12%
PRDO	B	0.22%	0.19%	0.19%
PSMT	D	0.17%	0.4%	0.17%
QCRH	A	0.06%	0.16%	0.06%
RBCAA	B	0.12%	0.07%	0.07%
RCKY	F	0.05%	0.03%	0.03%
RDUS	D	0.08%	0.07%	0.07%
REPX	D	0.14%	0.05%	0.05%
RES	F	0.13%	0.1%	0.1%
RGR	F	0.09%	0.04%	0.04%
RICK	F	0.04%	0.01%	0.01%
RM	C	0.04%	0.02%	0.02%
RNGR	A	0.08%	0.03%	0.03%
RRBI	A	0.02%	0.0%	0.0%
RYI	C	0.09%	0.12%	0.09%
SAFT	F	0.12%	0.02%	0.02%
SASR	B	0.23%	0.17%	0.17%
SBSI	D	0.12%	0.05%	0.05%
SCHL	F	0.08%	0.08%	0.08%
SCL	F	0.13%	0.17%	0.13%
SCS	F	0.21%	0.21%	0.21%
SCVL	F	0.13%	0.11%	0.11%
SD	F	0.08%	0.06%	0.06%
SFBS	A	0.23%	0.08%	0.08%
SFNC	B	0.38%	0.03%	0.03%
SGC	C	0.07%	0.03%	0.03%
SHBI	B	0.04%	0.03%	0.03%
SHEN	D	0.05%	0.03%	0.03%
SLM	C	0.35%	0.69%	0.35%
SLVM	A	0.44%	0.48%	0.44%
SMBC	B	0.04%	0.06%	0.04%
SMBK	A	0.04%	0.05%	0.04%
SMP	C	0.12%	0.07%	0.07%
SPFI	B	0.03%	0.04%	0.03%
SPTN	C	0.13%	0.12%	0.12%
SRCE	C	0.15%	0.03%	0.03%
STBA	D	0.15%	0.16%	0.15%
SWBI	C	0.1%	0.09%	0.09%
SXC	A	0.14%	0.14%	0.14%
SYBT	B	0.11%	0.08%	0.08%
TCBK	C	0.11%	0.11%	0.11%
TDS	B	0.43%	0.53%	0.43%
TEX	F	0.19%	0.56%	0.19%
THFF	C	0.08%	0.06%	0.06%
TILE	A	0.1%	0.2%	0.1%
TNC	F	0.15%	0.06%	0.06%
TOWN	D	0.23%	0.14%	0.14%
TRMK	B	0.2%	0.18%	0.18%
TRN	C	0.41%	0.37%	0.37%
TRST	D	0.08%	0.08%	0.08%
TWIN	D	0.04%	0.0%	0.0%
UCB	D	0.33%	0.03%	0.03%
UFCS	F	0.03%	0.01%	0.01%
ULH	B	0.15%	0.06%	0.06%
UMBF	A	0.28%	0.55%	0.28%
UNTY	A	0.02%	0.02%	0.02%
USLM	A	0.18%	0.03%	0.03%
UTMD	F	0.05%	0.0%	0.0%
UVE	D	0.07%	0.07%	0.07%
VBTX	B	0.15%	0.12%	0.12%
VHI	A	0.19%	0.0%	0.0%
VLGEA	D	0.07%	0.04%	0.04%
VRTS	C	0.24%	0.07%	0.07%
VSH	F	0.15%	0.4%	0.15%
WABC	B	0.17%	0.17%	0.17%
WAFD	D	0.19%	0.32%	0.19%
WASH	B	0.11%	0.07%	0.07%
WD	C	0.27%	0.36%	0.27%
WERN	B	0.14%	0.4%	0.14%
WEYS	B	0.08%	0.0%	0.0%
WGO	D	0.14%	0.18%	0.14%
WKC	D	0.19%	0.2%	0.19%
WMK	C	0.16%	0.16%	0.16%
WNC	D	0.07%	0.13%	0.07%
WOR	F	0.25%	0.15%	0.15%
WSFS	D	0.13%	0.26%	0.13%
WTBA	A	0.03%	0.02%	0.02%
WTTR	D	0.18%	0.18%	0.18%
ZEUS	F	0.05%	0.07%	0.05%

DES Overweight 259 Positions Relative to AVUV

Symbol	Grade	Weight
OGN	F	1.26%
TFSL	D	0.85%
EPR	D	0.81%
ALE	A	0.76%
CNS	B	0.75%
CCOI	B	0.73%
TPG	B	0.7%
SMG	A	0.7%
SBRA	B	0.68%
BNL	D	0.68%
NSA	D	0.67%
KNTK	B	0.66%
SLG	B	0.63%
VCTR	B	0.61%
EPRT	D	0.6%
BKH	D	0.59%
TNL	A	0.59%
OGS	C	0.57%
MC	D	0.56%
NHI	D	0.54%
SR	D	0.53%
KTB	A	0.53%
NWE	D	0.52%
AVA	D	0.48%
CRS	B	0.48%
AVNT	D	0.46%
FHB	A	0.45%
PNM	B	0.44%
IIPR	B	0.44%
VIRT	D	0.4%
MGEE	C	0.39%
VAC	C	0.39%
SHOO	D	0.38%
LEG	F	0.38%
CUZ	B	0.38%
RUSHA	A	0.38%
OTTR	D	0.36%
TGNA	B	0.35%
CDP	A	0.35%
SEM	B	0.34%
SXT	C	0.33%
CBU	A	0.33%
AUB	D	0.32%
AWR	D	0.32%
UVV	B	0.31%
ENR	A	0.31%
XRX	F	0.3%
STEP	B	0.3%
JJSF	C	0.29%
BCO	C	0.29%
BRC	D	0.29%
HNI	D	0.28%
PBI	A	0.28%
NHC	D	0.28%
SPB	C	0.28%
NWN	D	0.27%
RRR	F	0.27%
KMPR	B	0.27%
WDFC	A	0.27%
ABM	A	0.27%
YOU	B	0.26%
WWW	B	0.26%
WSBC	B	0.26%
PRK	C	0.26%
CTRE	B	0.26%
PTVE	F	0.25%
GFF	F	0.25%
GEF	B	0.25%
WHD	B	0.25%
UPBD	C	0.24%
AESI	D	0.23%
SKT	B	0.23%
CPK	D	0.23%
CSWI	B	0.23%
CWT	D	0.22%
BDC	B	0.21%
IOSP	F	0.21%
MAC	A	0.21%
BLMN	F	0.21%
DLX	F	0.21%
SJW	F	0.21%
MGRC	A	0.21%
PIPR	B	0.21%
WINA	A	0.21%
STRA	F	0.21%
UTL	D	0.2%
CXT	F	0.2%
PRIM	A	0.19%
IRT	D	0.19%
CSGS	B	0.19%
ACA	A	0.19%
NPO	F	0.18%
CRAI	B	0.18%
AEIS	A	0.18%
MLKN	F	0.18%
HL	C	0.18%
SBCF	C	0.17%
PRGS	B	0.17%
PZZA	A	0.17%
CCS	D	0.17%
SAH	A	0.16%
SXI	A	0.16%
BGC	A	0.16%
STC	D	0.16%
LXP	D	0.16%
HI	F	0.16%
JBT	A	0.16%
KAI	A	0.16%
LMAT	B	0.15%
RNST	B	0.15%
MNRO	A	0.15%
MLR	A	0.15%
AZZ	C	0.15%
ICFI	A	0.14%
ALX	D	0.14%
ESE	B	0.14%
DK	F	0.14%
REVG	C	0.14%
TPB	A	0.14%
EPC	F	0.14%
PCH	D	0.14%
PK	D	0.13%
NPK	F	0.13%
VSEC	B	0.13%
UTZ	C	0.13%
KWR	D	0.13%
GRC	C	0.13%
LTC	A	0.13%
JOE	F	0.13%
PJT	B	0.13%
AIN	F	0.12%
MSEX	B	0.12%
CDRE	D	0.12%
UNF	D	0.12%
HCKT	D	0.12%
EMBC	C	0.12%
BBSI	B	0.12%
CFFN	B	0.12%
SSTK	D	0.12%
USPH	D	0.12%
DBRG	D	0.12%
ATEN	B	0.12%
CWH	F	0.12%
DEI	B	0.12%
CSV	A	0.11%
JACK	C	0.11%
EPAC	A	0.11%
UE	A	0.11%
AKR	A	0.11%
DNUT	C	0.11%
PLOW	F	0.11%
HLIO	A	0.11%
FCPT	D	0.11%
NSSC	F	0.11%
TR	D	0.11%
GTY	C	0.11%
HAYN	A	0.11%
MTX	B	0.11%
NMRK	C	0.1%
GTN	B	0.1%
MTRN	D	0.1%
UWMC	F	0.1%
DIN	F	0.1%
KW	C	0.1%
NATH	B	0.09%
EE	B	0.09%
YORW	F	0.09%
LGTY	B	0.09%
SHO	F	0.09%
ALG	C	0.09%
CTS	A	0.09%
BHRB	C	0.09%
MATW	D	0.09%
NVEC	F	0.09%
LMNR	C	0.09%
SPOK	A	0.09%
ALEX	C	0.08%
MLAB	C	0.08%
IVT	A	0.08%
TRAK	B	0.08%
HSTM	A	0.08%
AAT	B	0.08%
CMCO	F	0.08%
TRS	D	0.08%
DRH	D	0.08%
SAVE	D	0.08%
ROIC	A	0.08%
JBGS	D	0.08%
EXPI	B	0.08%
MSB	A	0.08%
EVTC	D	0.08%
GCMG	B	0.08%
VSTS	F	0.08%
SHYF	C	0.08%
CNMD	D	0.08%
ARKO	C	0.08%
CLB	A	0.07%
CMP	C	0.07%
DEA	C	0.07%
UMH	D	0.07%
XHR	C	0.07%
PKE	D	0.07%
ESRT	D	0.07%
RUSHB	A	0.07%
GWRS	D	0.07%
OFLX	C	0.06%
MGPI	F	0.06%
GNE	F	0.06%
RLJ	F	0.06%
RGP	F	0.06%
NEWT	B	0.06%
ARTNA	F	0.06%
MMI	D	0.06%
PEB	F	0.06%
VRE	D	0.06%
ALCO	F	0.05%
NTST	F	0.05%
SVC	F	0.05%
BSIG	A	0.05%
CTO	A	0.05%
SLP	F	0.05%
BFS	D	0.05%
CSR	D	0.05%
WTI	F	0.05%
JOUT	F	0.05%
RGCO	D	0.05%
PLYM	F	0.04%
DGICA	A	0.04%
ARC	A	0.04%
RELL	B	0.04%
HURC	A	0.04%
WSR	B	0.04%
HQI	D	0.04%
AMRK	D	0.04%
CBL	B	0.04%
NRC	F	0.04%
CZNC	D	0.03%
CHCT	C	0.03%
PSTL	C	0.03%
BRT	F	0.03%
OLP	D	0.03%
AHH	D	0.03%
TSQ	F	0.03%
TIPT	A	0.03%
DHC	C	0.03%
GMRE	D	0.03%
PINE	D	0.02%
SSBK	A	0.02%
III	F	0.02%
VOC	D	0.02%
RMR	D	0.02%
SGA	F	0.02%
FPI	A	0.02%
LAND	D	0.02%
PKST	F	0.02%
NECB	B	0.02%
CLDT	F	0.02%
MBCN	A	0.01%
FNWB	F	0.0%

DES Underweight 403 Positions Relative to AVUV

Symbol	Grade	Weight
MDU	F	-0.93%
MLI	A	-0.9%
GATX	A	-0.89%
JXN	B	-0.89%
SM	F	-0.88%
BCC	D	-0.87%
ALK	A	-0.87%
CNX	B	-0.82%
CBT	A	-0.8%
AL	C	-0.79%
MHO	C	-0.77%
SKYW	A	-0.75%
MGY	A	-0.74%
KBH	C	-0.7%
RDN	D	-0.69%
R	A	-0.68%
DXC	C	-0.65%
AEO	F	-0.64%
SFM	A	-0.63%
HOG	F	-0.62%
M	D	-0.6%
SIG	D	-0.59%
STNG	F	-0.56%
THO	D	-0.55%
AVT	B	-0.54%
OZK	B	-0.53%
AX	B	-0.51%
GT	F	-0.5%
COLB	B	-0.49%
CEIX	B	-0.48%
BHF	B	-0.46%
ANF	F	-0.46%
AGO	B	-0.45%
SATS	B	-0.45%
PTEN	F	-0.44%
URBN	D	-0.44%
VSTO	A	-0.44%
AMR	F	-0.43%
NMIH	D	-0.43%
TPH	D	-0.43%
MTG	D	-0.42%
AXS	B	-0.41%
INSW	F	-0.41%
PLUS	D	-0.4%
MARA	D	-0.4%
VLY	B	-0.39%
ALKS	D	-0.39%
ONB	B	-0.39%
OII	B	-0.37%
HUBG	C	-0.37%
TBBK	D	-0.36%
ATKR	D	-0.36%
COLM	B	-0.36%
SANM	A	-0.36%
JBLU	D	-0.34%
PII	F	-0.34%
KOS	F	-0.33%
ESGR	B	-0.32%
PBF	F	-0.32%
SNEX	A	-0.31%
PLXS	A	-0.29%
FNB	B	-0.29%
FYBR	B	-0.29%
TCBI	B	-0.29%
SNV	B	-0.27%
PLAB	F	-0.27%
GNW	D	-0.27%
LPX	C	-0.27%
ASO	D	-0.26%
ESNT	F	-0.26%
WTFC	B	-0.26%
STRL	B	-0.26%
TALO	D	-0.25%
GIII	C	-0.25%
VC	F	-0.24%
MUR	F	-0.24%
HLX	F	-0.24%
SFL	F	-0.23%
LPG	F	-0.23%
DHT	F	-0.23%
NTB	D	-0.23%
ATSG	A	-0.22%
PFSI	D	-0.22%
OPEN	F	-0.21%
JELD	F	-0.21%
SUPN	A	-0.21%
TMHC	A	-0.21%
BPOP	F	-0.21%
CENTA	D	-0.21%
HHH	B	-0.21%
DIOD	F	-0.2%
ALGT	A	-0.2%
CUBI	F	-0.2%
CIVI	F	-0.2%
UNFI	B	-0.2%
SPNT	D	-0.2%
CMC	B	-0.2%
CRK	B	-0.2%
AAP	F	-0.2%
GLNG	B	-0.19%
TTMI	A	-0.19%
KRP	B	-0.19%
OMF	A	-0.19%
MTH	C	-0.18%
HRMY	D	-0.18%
ODP	C	-0.18%
TPC	B	-0.18%
SCSC	F	-0.18%
CC	C	-0.18%
BXC	A	-0.18%
IRDM	A	-0.18%
AMPH	A	-0.17%
DOLE	B	-0.17%
PAYO	A	-0.17%
USM	B	-0.17%
PRG	C	-0.16%
SNDR	A	-0.16%
PLYA	B	-0.15%
PTGX	B	-0.15%
FL	D	-0.15%
OEC	F	-0.15%
PARR	F	-0.15%
AM	D	-0.15%
LC	B	-0.14%
BJRI	C	-0.14%
PUMP	F	-0.14%
MRC	F	-0.14%
FDP	A	-0.14%
INVA	C	-0.13%
ASC	F	-0.13%
MBUU	A	-0.13%
AMRC	B	-0.13%
AXL	F	-0.13%
STNE	D	-0.13%
MATV	F	-0.12%
RIG	C	-0.12%
TROX	F	-0.12%
PLMR	D	-0.12%
GNK	D	-0.12%
GAP	C	-0.12%
UAA	B	-0.12%
ACT	D	-0.12%
MTDR	C	-0.12%
CARS	D	-0.11%
WAL	D	-0.11%
GPOR	F	-0.11%
HOV	C	-0.11%
NBR	C	-0.11%
CLVT	F	-0.1%
VTOL	D	-0.1%
NR	F	-0.1%
EBS	B	-0.1%
UVSP	C	-0.1%
REX	C	-0.1%
DAKT	A	-0.1%
CLW	F	-0.1%
DNOW	D	-0.1%
PVH	C	-0.1%
FOR	F	-0.1%
NAT	F	-0.1%
MTUS	F	-0.1%
PAGS	F	-0.1%
RYAM	B	-0.09%
ZION	B	-0.09%
BBW	B	-0.09%
GRBK	D	-0.09%
SGHC	B	-0.09%
UFPI	D	-0.08%
LXU	B	-0.08%
AMKR	F	-0.08%
UTI	B	-0.08%
GLDD	B	-0.08%
SNCY	A	-0.08%
CFB	D	-0.08%
SEB	F	-0.08%
ENLC	A	-0.08%
BKD	D	-0.07%
SKWD	B	-0.07%
CHX	F	-0.07%
LMB	C	-0.07%
LOVE	B	-0.07%
OSCR	C	-0.07%
DDS	B	-0.07%
BFST	B	-0.07%
CCRN	F	-0.07%
TGLS	A	-0.07%
ALIT	F	-0.07%
MCB	C	-0.07%
NTGR	A	-0.07%
CMRE	C	-0.07%
SBLK	F	-0.06%
CENX	B	-0.06%
UA	B	-0.06%
USAP	A	-0.06%
ESQ	A	-0.06%
CVEO	F	-0.06%
HTBI	D	-0.06%
VSAT	F	-0.06%
AMBC	D	-0.06%
VTLE	F	-0.06%
THG	C	-0.06%
ARHS	F	-0.05%
NWPX	A	-0.05%
AOSL	D	-0.05%
SIGA	F	-0.05%
USNA	C	-0.05%
TWI	F	-0.05%
FG	F	-0.05%
GDOT	B	-0.05%
THRM	D	-0.05%
IESC	A	-0.05%
SB	F	-0.05%
ASH	F	-0.05%
CLF	C	-0.05%
GDEN	F	-0.05%
OSUR	F	-0.05%
BVS	A	-0.05%
WTM	C	-0.05%
CCB	A	-0.05%
CENT	D	-0.04%
AMPY	D	-0.04%
CARE	B	-0.04%
VPG	F	-0.04%
HRTG	D	-0.04%
GCO	F	-0.04%
CRCT	B	-0.04%
HTZ	F	-0.04%
AMCX	F	-0.04%
LXFR	A	-0.04%
HNRG	B	-0.04%
APEI	C	-0.04%
FNKO	B	-0.04%
ZIMV	D	-0.04%
MCFT	D	-0.04%
MPB	B	-0.04%
RBB	D	-0.04%
KE	C	-0.04%
ACIC	A	-0.03%
TBI	D	-0.03%
MED	D	-0.03%
BWB	C	-0.03%
IPI	A	-0.03%
SWIM	C	-0.03%
TH	F	-0.03%
FLXS	B	-0.03%
XPRO	F	-0.03%
MOFG	C	-0.03%
GPRE	D	-0.03%
WRLD	F	-0.03%
FIGS	B	-0.03%
HDSN	F	-0.03%
JAKK	A	-0.03%
EZPW	B	-0.03%
LE	C	-0.03%
FLWS	C	-0.03%
PANL	F	-0.03%
VIRC	C	-0.03%
GLRE	C	-0.03%
CCBG	B	-0.03%
NNBR	F	-0.02%
TAYD	F	-0.02%
HMST	F	-0.02%
PUBM	D	-0.02%
ACDC	D	-0.02%
SRI	F	-0.02%
CVGI	F	-0.02%
VRA	F	-0.02%
TCBX	A	-0.02%
RMAX	C	-0.02%
LEGH	D	-0.02%
TG	A	-0.02%
CMA	B	-0.02%
HIFS	B	-0.02%
MEC	A	-0.02%
CDE	C	-0.02%
KODK	F	-0.02%
MNTK	B	-0.02%
SFST	B	-0.02%
TTI	C	-0.02%
ORN	D	-0.02%
CMT	D	-0.02%
ANIP	F	-0.02%
PRA	B	-0.02%
FFWM	D	-0.02%
MERC	F	-0.02%
WLFC	B	-0.02%
CNDT	C	-0.02%
NATR	D	-0.02%
ACNB	C	-0.02%
TMP	A	-0.02%
REI	F	-0.02%
DXLG	F	-0.02%
KNF	B	-0.01%
UBFO	B	-0.01%
VNDA	C	-0.01%
SONO	C	-0.01%
COFS	B	-0.01%
PWOD	A	-0.01%
XBIT	B	-0.01%
KLXE	F	-0.01%
STKS	F	-0.01%
OLPX	F	-0.01%
KEQU	D	-0.01%
TSBK	B	-0.01%
PTSI	D	-0.01%
OPBK	A	-0.01%
MPAA	F	-0.01%
BWFG	D	-0.01%
ATLC	A	-0.01%
LFVN	A	-0.01%
LSEA	C	-0.01%
CBAN	D	-0.01%
IBEX	C	-0.01%
FUNC	A	-0.01%
BCML	A	-0.01%
LWAY	B	-0.01%
AVO	C	-0.01%
PKBK	A	-0.01%
METCB	D	-0.01%
VEL	C	-0.01%
GEOS	A	-0.01%
NGS	C	-0.01%
LTH	D	-0.01%
EVBN	B	-0.01%
EBTC	B	-0.01%
ACTG	F	-0.01%
MYRG	C	-0.01%
FLL	A	-0.01%
PCB	A	-0.01%
TTSH	A	-0.01%
UEIC	F	-0.01%
GHM	D	-0.01%
MFIN	A	-0.01%
JRVR	F	-0.01%
LNTH	A	-0.01%
MVBF	F	-0.01%
RLGT	B	-0.01%
MTW	F	-0.01%
ESOA	A	-0.01%
BELFA	B	-0.01%
SF	B	-0.01%
WSBF	B	-0.01%
BCBP	C	-0.01%
OIS	D	-0.01%
IMXI	F	-0.01%
PBYI	C	-0.01%
FSTR	F	-0.01%
HBCP	B	-0.01%
CPHC	F	-0.0%
MRBK	A	-0.0%
NKSH	D	-0.0%
SRTS	B	-0.0%
WNEB	C	-0.0%
KVHI	F	-0.0%
MNSB	D	-0.0%
ECPG	F	-0.0%
FGBI	B	-0.0%
MYFW	D	-0.0%
CNTY	A	-0.0%
PDEX	A	-0.0%
ATLO	F	-0.0%
VABK	C	-0.0%
WOW	C	-0.0%
BCAL	B	-0.0%
PVBC	D	-0.0%
AOUT	C	-0.0%
PCRX	C	-0.0%
OB	F	-0.0%
MYPS	F	-0.0%
LPRO	C	-0.0%
ZUMZ	F	-0.0%
NWFL	A	-0.0%
SPWH	F	-0.0%
DLTH	D	-0.0%
CZFS	A	-0.0%
QUAD	A	-0.0%
UFI	D	-0.0%
CCRD	B	-0.0%
KINS	A	-0.0%
TBNK	C	-0.0%
MTRX	B	-0.0%
FVCB	B	-0.0%
CHMG	A	-0.0%
CRD.B	B	-0.0%
PYXS	C	-0.0%
PFIS	B	-0.0%
PNRG	B	-0.0%
FONR	F	-0.0%
PEBK	F	-0.0%
CFFI	A	-0.0%
OVLY	A	-0.0%
EPSN	A	-0.0%
HWBK	A	-0.0%
RVSB	A	-0.0%
FNLC	D	-0.0%
CBFV	B	-0.0%
NEU	F	-0.0%
FET	D	-0.0%
FRAF	A	-0.0%
BOOM	F	-0.0%
CPSS	A	-0.0%
SEG	F	-0.0%
BFIN	C	-0.0%