EES vs. QVMS ETF Comparison

Comparison of WisdomTree SmallCap Earnings Fund (EES) to Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)

EES

WisdomTree SmallCap Earnings Fund

EES Description

The investment seeks to track the price and yield performance, before fees and expenses, of the WisdomTree SmallCap Earnings 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 that is comprised of earnings-generating companies within the small-capitalization segment of the U.S. Stock Market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$56.85

Average Daily Volume

21,535

Number of Holdings ^*

838

* may have additional holdings in another (foreign) market

QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF

QVMS Description

The investment seeks to track the investment results of the S&P SmallCap 600 Â® Quality, Value & Momentum Top 90% Multi- Factor Index (the âunderlying indexâ). The fund will invest at least 90% of its total assets in the securities that comprise the index. S&P Dow Jones Indices LLC compiles, maintains and calculates the index, designed to track the performance of a subset of securities from the S&P SmallCap 600 Â® Index that exhibit the investment style criteria of quality, value and momentum. The index is composed of securities with multi-factor scores representing the top 90% of the parent index, as determined by the index provider. It is non-diversified.

Grade (RS Rating)

Last Trade

$28.90

Average Daily Volume

483

Number of Holdings ^*

523

* may have additional holdings in another (foreign) market

Performance

Period	EES	QVMS
30 Days	8.25%	7.00%
60 Days	7.72%	6.30%
90 Days	8.21%	6.54%
12 Months	30.64%	30.65%

316 Overlapping Holdings

Symbol	Grade	Weight in EES	Weight in QVMS	Overlap
AAT	B	0.1%	0.1%	0.1%
ADUS	D	0.11%	0.17%	0.11%
AGYS	A	0.09%	0.2%	0.09%
AHCO	F	0.13%	0.06%	0.06%
AHH	D	0.04%	0.06%	0.04%
AIR	B	0.12%	0.17%	0.12%
AKR	B	0.13%	0.19%	0.13%
ALEX	B	0.07%	0.1%	0.07%
ALG	B	0.16%	0.16%	0.16%
ALGT	B	0.24%	0.08%	0.08%
AMBC	C	0.16%	0.04%	0.04%
AMSF	B	0.05%	0.09%	0.05%
AMWD	C	0.2%	0.13%	0.13%
ANDE	D	0.07%	0.13%	0.07%
ANIP	F	0.11%	0.08%	0.08%
APOG	C	0.2%	0.15%	0.15%
ARLO	C	0.03%	0.09%	0.03%
AROC	A	0.16%	0.28%	0.16%
ASIX	B	0.13%	0.06%	0.06%
ASTE	C	0.07%	0.07%	0.07%
ASTH	F	0.07%	0.13%	0.07%
ATEN	A	0.09%	0.09%	0.09%
ATGE	B	0.32%	0.26%	0.26%
AUB	B	0.33%	0.31%	0.31%
AVNS	F	0.07%	0.07%	0.07%
AX	B	0.64%	0.35%	0.35%
AZZ	A	0.19%	0.21%	0.19%
BANR	B	0.3%	0.2%	0.2%
BDN	C	0.24%	0.07%	0.07%
BFH	C	0.76%	0.26%	0.26%
BFS	C	0.05%	0.04%	0.04%
BGC	C	0.62%	0.32%	0.32%
BGS	F	0.06%	0.04%	0.04%
BHE	C	0.16%	0.14%	0.14%
BHLB	B	0.13%	0.1%	0.1%
BJRI	C	0.03%	0.07%	0.03%
BKE	B	0.31%	0.11%	0.11%
BKU	A	0.33%	0.25%	0.25%
BLMN	F	0.17%	0.1%	0.1%
BOH	B	0.24%	0.24%	0.24%
BOOT	C	0.33%	0.28%	0.28%
BRC	D	0.28%	0.26%	0.26%
BRKL	B	0.09%	0.09%	0.09%
CAKE	C	0.21%	0.18%	0.18%
CAL	F	0.16%	0.08%	0.08%
CALM	A	1.06%	0.29%	0.29%
CARG	B	0.25%	0.22%	0.22%
CARS	C	0.25%	0.09%	0.09%
CASH	B	0.25%	0.16%	0.16%
CBRL	C	0.09%	0.09%	0.09%
CBU	B	0.29%	0.3%	0.29%
CCS	D	0.33%	0.2%	0.2%
CENTA	C	0.16%	0.17%	0.16%
CERT	F	0.06%	0.09%	0.06%
CEVA	B	0.02%	0.05%	0.02%
CFFN	C	0.04%	0.07%	0.04%
CHCO	B	0.14%	0.15%	0.14%
CHEF	A	0.1%	0.12%	0.1%
CLB	B	0.05%	0.08%	0.05%
CNK	C	0.3%	0.25%	0.25%
CNXN	C	0.11%	0.06%	0.06%
COHU	C	0.09%	0.1%	0.09%
COLL	F	0.25%	0.08%	0.08%
CPF	B	0.09%	0.07%	0.07%
CPK	A	0.14%	0.21%	0.14%
CPRX	C	0.11%	0.19%	0.11%
CRSR	C	0.03%	0.03%	0.03%
CSGS	B	0.14%	0.13%	0.13%
CTKB	C	0.02%	0.05%	0.02%
CTS	C	0.12%	0.14%	0.12%
CUBI	B	0.23%	0.13%	0.13%
CVBF	A	0.29%	0.25%	0.25%
CVCO	A	0.35%	0.28%	0.28%
CXM	C	0.03%	0.08%	0.03%
CXW	C	0.12%	0.19%	0.12%
DAN	D	0.08%	0.1%	0.08%
DCOM	B	0.18%	0.09%	0.09%
DEA	D	0.04%	0.1%	0.04%
DEI	B	0.09%	0.23%	0.09%
DFIN	D	0.08%	0.12%	0.08%
DGII	C	0.12%	0.1%	0.1%
DLX	B	0.22%	0.08%	0.08%
DNOW	B	0.17%	0.13%	0.13%
DORM	B	0.26%	0.3%	0.26%
DRH	B	0.1%	0.15%	0.1%
DXPE	C	0.21%	0.08%	0.08%
EAT	A	0.59%	0.4%	0.4%
EGBN	B	0.13%	0.07%	0.07%
EIG	B	0.12%	0.1%	0.1%
ENR	B	0.28%	0.19%	0.19%
ENV	B	0.2%	0.24%	0.2%
ENVA	B	0.52%	0.24%	0.24%
EPAC	C	0.17%	0.21%	0.17%
EPC	F	0.16%	0.15%	0.15%
ETD	C	0.11%	0.05%	0.05%
EVTC	B	0.17%	0.17%	0.17%
EXPI	D	0.06%	0.07%	0.06%
EYE	C	0.04%	0.07%	0.04%
EZPW	B	0.09%	0.05%	0.05%
FBK	C	0.22%	0.16%	0.16%
FBNC	B	0.15%	0.15%	0.15%
FCF	B	0.19%	0.15%	0.15%
FCPT	C	0.13%	0.18%	0.13%
FFBC	B	0.37%	0.22%	0.22%
FHB	B	0.37%	0.28%	0.28%
FULT	A	0.43%	0.32%	0.32%
GBX	A	0.2%	0.17%	0.17%
GDEN	B	0.21%	0.06%	0.06%
GDOT	D	0.11%	0.04%	0.04%
GEO	B	0.38%	0.29%	0.29%
GES	F	0.18%	0.04%	0.04%
GFF	A	0.42%	0.23%	0.23%
GIII	D	0.13%	0.08%	0.08%
GOGO	C	0.13%	0.04%	0.04%
GRBK	D	0.42%	0.14%	0.14%
GSHD	A	0.09%	0.24%	0.09%
GTY	A	0.09%	0.12%	0.09%
GVA	A	0.13%	0.33%	0.13%
HAFC	B	0.12%	0.06%	0.06%
HAIN	D	0.03%	0.05%	0.03%
HAYN	A	0.07%	0.06%	0.06%
HAYW	B	0.15%	0.16%	0.15%
HCI	C	0.04%	0.06%	0.04%
HCSG	C	0.07%	0.07%	0.07%
HFWA	C	0.09%	0.07%	0.07%
HIW	C	0.24%	0.26%	0.24%
HLIT	D	0.07%	0.11%	0.07%
HLX	B	0.05%	0.14%	0.05%
HMN	B	0.05%	0.14%	0.05%
HNI	B	0.16%	0.21%	0.16%
HOPE	C	0.21%	0.13%	0.13%
HRMY	D	0.18%	0.08%	0.08%
HSII	B	0.12%	0.07%	0.07%
HSTM	B	0.03%	0.06%	0.03%
HTH	C	0.1%	0.12%	0.1%
HTLD	C	0.03%	0.04%	0.03%
HUBG	A	0.31%	0.25%	0.25%
HWKN	B	0.16%	0.2%	0.16%
HZO	F	0.12%	0.05%	0.05%
IBTX	B	0.25%	0.18%	0.18%
ICUI	D	0.36%	0.26%	0.26%
IIIN	C	0.04%	0.05%	0.04%
IIPR	D	0.23%	0.22%	0.22%
INDB	B	0.33%	0.25%	0.25%
INVA	D	0.09%	0.08%	0.08%
JBSS	F	0.07%	0.06%	0.06%
KALU	C	0.05%	0.11%	0.05%
KAR	B	0.17%	0.18%	0.17%
KELYA	F	0.05%	0.04%	0.04%
KMT	B	0.18%	0.18%	0.18%
KN	B	0.11%	0.14%	0.11%
KOP	C	0.1%	0.07%	0.07%
LGND	C	0.21%	0.15%	0.15%
LKFN	C	0.1%	0.15%	0.1%
LMAT	A	0.08%	0.16%	0.08%
LNN	B	0.09%	0.11%	0.09%
LQDT	B	0.05%	0.04%	0.04%
LTC	B	0.11%	0.13%	0.11%
LZB	B	0.2%	0.14%	0.14%
MATV	D	0.09%	0.05%	0.05%
MATW	C	0.07%	0.06%	0.06%
MCRI	A	0.14%	0.08%	0.08%
MCW	C	0.13%	0.06%	0.06%
MD	C	0.21%	0.09%	0.09%
MGPI	F	0.07%	0.06%	0.06%
MLAB	F	0.06%	0.04%	0.04%
MLKN	F	0.14%	0.15%	0.14%
MNRO	D	0.05%	0.07%	0.05%
MODG	F	0.08%	0.1%	0.08%
MRCY	C	0.07%	0.17%	0.07%
MRTN	D	0.09%	0.08%	0.08%
MSEX	C	0.04%	0.09%	0.04%
MTRN	C	0.14%	0.21%	0.14%
MTUS	C	0.06%	0.05%	0.05%
MTX	B	0.22%	0.21%	0.21%
MYE	F	0.04%	0.04%	0.04%
MYRG	B	0.12%	0.21%	0.12%
NABL	F	0.07%	0.06%	0.06%
NAVI	F	0.35%	0.11%	0.11%
NBHC	C	0.2%	0.15%	0.15%
NBTB	B	0.18%	0.2%	0.18%
NHC	C	0.06%	0.15%	0.06%
NMIH	C	0.45%	0.24%	0.24%
NPK	B	0.04%	0.03%	0.03%
NTCT	C	0.2%	0.14%	0.14%
NVEE	F	0.08%	0.09%	0.08%
NWBI	B	0.18%	0.15%	0.15%
NWN	A	0.13%	0.12%	0.12%
NX	C	0.09%	0.11%	0.09%
NXRT	B	0.15%	0.08%	0.08%
ODP	F	0.14%	0.07%	0.07%
OFG	B	0.23%	0.17%	0.17%
OI	C	0.5%	0.16%	0.16%
OII	B	0.11%	0.25%	0.11%
OMI	F	0.05%	0.07%	0.05%
OSIS	A	0.15%	0.19%	0.15%
OXM	F	0.17%	0.09%	0.09%
PAHC	C	0.11%	0.04%	0.04%
PARR	F	0.3%	0.09%	0.09%
PATK	C	0.27%	0.21%	0.21%
PAYO	A	0.12%	0.21%	0.12%
PCRX	C	0.09%	0.07%	0.07%
PDCO	F	0.19%	0.13%	0.13%
PFBC	B	0.23%	0.09%	0.09%
PFS	B	0.32%	0.23%	0.23%
PINC	B	0.37%	0.19%	0.19%
PJT	A	0.14%	0.28%	0.14%
PLAB	C	0.17%	0.14%	0.14%
PLAY	D	0.15%	0.09%	0.09%
PLMR	A	0.13%	0.21%	0.13%
PLUS	F	0.2%	0.18%	0.18%
POWL	C	0.15%	0.22%	0.15%
PPBI	C	0.27%	0.22%	0.22%
PRA	C	0.03%	0.07%	0.03%
PRDO	B	0.25%	0.14%	0.14%
PRG	C	0.3%	0.17%	0.17%
PRGS	A	0.28%	0.22%	0.22%
PRK	B	0.21%	0.23%	0.21%
PRLB	B	0.05%	0.08%	0.05%
PRVA	C	0.08%	0.19%	0.08%
PSMT	D	0.16%	0.18%	0.16%
PUMP	C	0.12%	0.05%	0.05%
QNST	B	0.03%	0.08%	0.03%
RAMP	B	0.09%	0.15%	0.09%
RDNT	B	0.16%	0.43%	0.16%
RES	D	0.23%	0.04%	0.04%
REX	D	0.07%	0.06%	0.06%
REZI	A	0.3%	0.31%	0.3%
RGR	F	0.06%	0.05%	0.05%
RNST	B	0.2%	0.19%	0.19%
ROCK	C	0.15%	0.17%	0.15%
ROG	D	0.08%	0.14%	0.08%
ROIC	A	0.07%	0.17%	0.07%
RXO	D	0.1%	0.27%	0.1%
SAFT	B	0.04%	0.1%	0.04%
SAH	C	0.4%	0.08%	0.08%
SATS	D	0.22%	0.17%	0.17%
SBCF	B	0.18%	0.2%	0.18%
SBH	C	0.31%	0.11%	0.11%
SBSI	C	0.11%	0.08%	0.08%
SCHL	F	0.05%	0.05%	0.05%
SCL	C	0.06%	0.13%	0.06%
SCSC	C	0.15%	0.11%	0.11%
SCVL	F	0.14%	0.05%	0.05%
SFNC	C	0.36%	0.25%	0.25%
SHAK	C	0.14%	0.35%	0.14%
SHEN	F	0.02%	0.05%	0.02%
SHO	D	0.1%	0.16%	0.1%
SITM	B	0.15%	0.28%	0.15%
SJW	F	0.09%	0.12%	0.09%
SLP	D	0.02%	0.04%	0.02%
SLVM	B	0.59%	0.24%	0.24%
SMP	C	0.08%	0.05%	0.05%
SNCY	C	0.09%	0.04%	0.04%
SNDR	B	0.47%	0.09%	0.09%
SNEX	B	0.34%	0.21%	0.21%
SONO	C	0.18%	0.14%	0.14%
SPTN	D	0.07%	0.05%	0.05%
SSTK	F	0.13%	0.06%	0.06%
STAA	F	0.06%	0.11%	0.06%
STBA	B	0.21%	0.13%	0.13%
STC	B	0.06%	0.16%	0.06%
STEP	C	0.15%	0.27%	0.15%
STRA	C	0.09%	0.17%	0.09%
SUPN	C	0.06%	0.17%	0.06%
SWI	C	0.18%	0.05%	0.05%
SXC	A	0.09%	0.09%	0.09%
SXI	B	0.14%	0.2%	0.14%
SXT	C	0.19%	0.26%	0.19%
TALO	C	0.05%	0.15%	0.05%
TBBK	B	0.27%	0.24%	0.24%
TFIN	B	0.07%	0.18%	0.07%
THRM	F	0.08%	0.12%	0.08%
THS	D	0.14%	0.12%	0.12%
TILE	B	0.15%	0.12%	0.12%
TMP	B	0.04%	0.08%	0.04%
TNC	D	0.13%	0.14%	0.13%
TR	B	0.1%	0.04%	0.04%
TRIP	F	0.14%	0.13%	0.13%
TRMK	C	0.26%	0.19%	0.19%
TRN	B	0.15%	0.25%	0.15%
TRST	B	0.08%	0.06%	0.06%
TTMI	C	0.26%	0.2%	0.2%
TWI	F	0.06%	0.03%	0.03%
UCTT	D	0.09%	0.13%	0.09%
UE	B	0.08%	0.21%	0.08%
UFPT	C	0.09%	0.19%	0.09%
UHT	D	0.03%	0.04%	0.03%
UPBD	B	0.24%	0.12%	0.12%
USNA	C	0.07%	0.04%	0.04%
USPH	B	0.05%	0.11%	0.05%
UTL	B	0.07%	0.07%	0.07%
UVV	B	0.13%	0.1%	0.1%
VBTX	B	0.2%	0.13%	0.13%
VECO	F	0.11%	0.14%	0.11%
VIAV	C	0.13%	0.18%	0.13%
VICR	C	0.09%	0.1%	0.09%
VIRT	A	0.36%	0.23%	0.23%
VRTS	B	0.18%	0.13%	0.13%
VSCO	C	0.28%	0.24%	0.24%
VSTO	A	0.47%	0.2%	0.2%
VTLE	C	0.24%	0.08%	0.08%
WABC	B	0.17%	0.12%	0.12%
WAFD	B	0.32%	0.2%	0.2%
WERN	C	0.18%	0.2%	0.18%
WGO	C	0.28%	0.15%	0.15%
WKC	C	0.19%	0.13%	0.13%
WNC	C	0.2%	0.07%	0.07%
WRLD	C	0.03%	0.03%	0.03%
WSFS	B	0.44%	0.29%	0.29%
WSR	A	0.06%	0.05%	0.05%
WWW	A	0.07%	0.14%	0.07%
XHR	B	0.07%	0.13%	0.07%
XNCR	B	0.05%	0.09%	0.05%
XPEL	B	0.06%	0.07%	0.06%
XRX	F	0.24%	0.08%	0.08%

EES Overweight 522 Positions Relative to QVMS

Symbol	Grade	Weight
LUMN	C	2.09%
TPG	A	0.98%
VCTR	B	0.61%
JWN	D	0.51%
LEVI	F	0.47%
PRIM	A	0.46%
NMRK	C	0.4%
GPOR	B	0.4%
HTLF	B	0.4%
STRL	A	0.39%
CRGY	B	0.38%
RNG	C	0.37%
EBC	B	0.37%
MSGE	F	0.37%
VYX	B	0.34%
FA	C	0.34%
FRME	B	0.34%
IESC	C	0.32%
EFSC	B	0.3%
SABR	C	0.27%
USLM	A	0.27%
DK	C	0.27%
MBIN	F	0.26%
GHC	B	0.26%
DFH	D	0.25%
AMRX	C	0.25%
HEES	C	0.25%
WLFC	B	0.25%
MGRC	B	0.24%
ULH	C	0.24%
COMM	D	0.24%
ATSG	B	0.23%
TOWN	B	0.22%
BZH	C	0.22%
NNI	D	0.21%
HOV	D	0.21%
SASR	B	0.21%
WSBC	B	0.21%
NGVT	B	0.21%
HE	C	0.2%
IMKTA	C	0.2%
HPK	B	0.19%
AGM	B	0.19%
AMRK	F	0.18%
VRNT	C	0.18%
MBUU	B	0.18%
QCRH	B	0.18%
CRI	F	0.18%
FOR	F	0.18%
EXTR	C	0.18%
MWA	B	0.18%
MRC	B	0.17%
SYBT	B	0.17%
EVRI	A	0.17%
BXC	B	0.17%
PTVE	B	0.17%
QTWO	A	0.17%
NHI	D	0.17%
STGW	A	0.17%
LAUR	A	0.17%
REPX	A	0.17%
GRNT	B	0.17%
MGNI	B	0.16%
TCBK	C	0.16%
EMBC	C	0.16%
SRCE	B	0.16%
TH	C	0.16%
REVG	C	0.15%
EVCM	B	0.15%
PI	D	0.15%
WTTR	A	0.15%
PEBO	B	0.15%
WMK	C	0.15%
BY	B	0.15%
MXL	C	0.15%
OCFC	B	0.15%
GCI	D	0.14%
ARHS	F	0.14%
HY	D	0.14%
AMAL	B	0.14%
AGX	B	0.14%
OMCL	C	0.14%
UIS	B	0.14%
BUSE	B	0.14%
PFC	B	0.14%
NIC	B	0.13%
BOWL	C	0.13%
CYH	F	0.13%
RBCAA	B	0.13%
MIR	A	0.13%
ACCO	C	0.13%
BV	C	0.13%
AESI	B	0.13%
HURN	C	0.13%
BELFB	C	0.13%
ROAD	B	0.13%
HLIO	B	0.13%
CCSI	C	0.12%
FBMS	B	0.12%
ESRT	C	0.12%
SCS	C	0.12%
PX	A	0.12%
SD	D	0.12%
GABC	B	0.12%
BANC	B	0.12%
ACMR	D	0.12%
ATLC	A	0.11%
JELD	F	0.11%
OSBC	A	0.11%
MLR	C	0.11%
ALX	D	0.11%
VSEC	C	0.11%
VERX	A	0.11%
UVSP	B	0.11%
INFN	D	0.11%
HNRG	B	0.11%
OLPX	D	0.11%
ACEL	C	0.11%
CHWY	B	0.11%
LXU	B	0.11%
MCB	B	0.11%
GCMG	B	0.11%
CNOB	B	0.11%
CWAN	B	0.11%
JACK	C	0.1%
ECVT	C	0.1%
SPB	C	0.1%
EQC	B	0.1%
PDM	D	0.1%
KNTK	A	0.1%
OBK	C	0.1%
BBW	C	0.1%
MBWM	B	0.1%
TRS	B	0.1%
HBNC	B	0.1%
BSIG	A	0.1%
ANET	C	0.1%
NAPA	A	0.1%
JBI	F	0.1%
CTBI	B	0.1%
KODK	B	0.1%
CMCO	C	0.1%
RVLV	A	0.1%
IDT	B	0.1%
USM	B	0.1%
CFB	B	0.09%
GSBC	C	0.09%
LC	A	0.09%
SKWD	A	0.09%
GDRX	F	0.09%
ADV	D	0.09%
BBSI	B	0.09%
REI	D	0.09%
KTOS	B	0.09%
DIN	C	0.09%
TRDA	C	0.09%
RYI	C	0.09%
CRAI	C	0.09%
MCFT	C	0.09%
PLPC	B	0.09%
LEGH	D	0.09%
CWH	B	0.09%
HTBK	B	0.08%
NBN	C	0.08%
HCKT	B	0.08%
IBCP	B	0.08%
BHRB	B	0.08%
BRY	F	0.08%
EE	A	0.08%
SPFI	C	0.08%
AMCX	C	0.08%
YOU	D	0.08%
FMBH	B	0.08%
ARRY	F	0.08%
HBT	B	0.08%
ARCT	F	0.08%
FWRD	D	0.08%
RMR	F	0.08%
LEU	C	0.08%
MSBI	B	0.08%
SHYF	C	0.07%
MCBS	B	0.07%
IMMR	C	0.07%
RPAY	D	0.07%
UPWK	B	0.07%
NWPX	A	0.07%
RBBN	C	0.07%
NGVC	A	0.07%
DVAX	C	0.07%
PZZA	F	0.07%
BFST	C	0.07%
SENEA	A	0.07%
CLW	F	0.07%
PGC	B	0.07%
DAKT	C	0.07%
TTGT	B	0.07%
CTOS	B	0.07%
EGY	D	0.07%
TASK	C	0.07%
LOB	C	0.07%
TITN	C	0.07%
UVE	B	0.07%
KFRC	D	0.07%
UTZ	D	0.07%
PNTG	D	0.07%
DBI	F	0.07%
CSV	B	0.07%
VLGEA	C	0.07%
THR	B	0.07%
AMPY	C	0.07%
HVT	D	0.06%
IMXI	B	0.06%
CCBG	B	0.06%
CCNE	C	0.06%
MPX	C	0.06%
EBF	F	0.06%
JAMF	F	0.06%
ZIP	D	0.06%
DNUT	F	0.06%
FISI	B	0.06%
WEYS	C	0.06%
KE	C	0.06%
EGHT	B	0.06%
ONEW	F	0.06%
CLBK	C	0.06%
VITL	D	0.06%
RNGR	A	0.06%
PKOH	C	0.06%
PD	C	0.06%
TPB	B	0.06%
CCRN	F	0.06%
TGI	B	0.06%
LMB	B	0.06%
THFF	B	0.06%
HTBI	B	0.06%
NSSC	D	0.06%
LYTS	B	0.06%
KRT	B	0.06%
EQBK	B	0.06%
AMTB	B	0.06%
MTW	C	0.06%
GIC	D	0.06%
ETWO	F	0.06%
CCB	A	0.06%
WRBY	A	0.06%
ARKO	C	0.05%
CRCT	F	0.05%
CDRE	F	0.05%
UWMC	D	0.05%
MITK	C	0.05%
CECO	B	0.05%
JAKK	C	0.05%
GTN	F	0.05%
MLNK	C	0.05%
CLFD	F	0.05%
VYGR	F	0.05%
RICK	B	0.05%
WINA	C	0.05%
ODC	B	0.05%
VZIO	A	0.05%
BH	B	0.05%
GNE	F	0.05%
LOCO	D	0.05%
NECB	C	0.05%
RBB	B	0.05%
MPB	B	0.05%
FCBC	C	0.05%
JILL	C	0.05%
LSEA	D	0.05%
MRVI	F	0.05%
WASH	C	0.05%
GRC	A	0.05%
WLDN	C	0.05%
SWBI	C	0.05%
FSBC	C	0.05%
SPOK	B	0.05%
MOV	D	0.05%
BFC	B	0.05%
MYPS	C	0.05%
METC	C	0.05%
DSGR	C	0.05%
WTBA	B	0.05%
GDYN	B	0.05%
RLJ	C	0.05%
VREX	B	0.05%
CAC	C	0.05%
BWB	B	0.04%
ERII	D	0.04%
AIRS	C	0.04%
FWRG	C	0.04%
NATH	C	0.04%
VMEO	B	0.04%
LINC	C	0.04%
PLOW	D	0.04%
EBTC	C	0.04%
NFBK	C	0.04%
OLO	A	0.04%
TTI	B	0.04%
OABI	F	0.04%
LOVE	A	0.04%
SDGR	C	0.04%
DCO	C	0.04%
SWIM	C	0.04%
CARE	C	0.04%
ZEUS	C	0.04%
HBCP	C	0.04%
IIIV	C	0.04%
NR	B	0.04%
ORRF	B	0.04%
SHLS	F	0.04%
DXLG	D	0.04%
ITOS	F	0.04%
ZUO	B	0.04%
RGP	F	0.04%
PBI	B	0.04%
YEXT	B	0.04%
SMBC	B	0.04%
GCO	C	0.04%
SMBK	B	0.04%
MED	D	0.04%
PDFS	C	0.04%
ARVN	F	0.04%
OLP	B	0.04%
BAND	B	0.04%
ORGO	B	0.04%
FMNB	B	0.04%
CIVB	B	0.04%
BHB	C	0.04%
TCMD	B	0.04%
OPY	B	0.04%
PAY	A	0.03%
PFIS	A	0.03%
OFIX	C	0.03%
UTI	B	0.03%
PCB	B	0.03%
NC	B	0.03%
TCBX	B	0.03%
MGNX	F	0.03%
NGS	B	0.03%
INDI	C	0.03%
MOFG	B	0.03%
ASUR	C	0.03%
NUS	D	0.03%
VNDA	C	0.03%
FFIC	B	0.03%
EWCZ	F	0.03%
FIGS	F	0.03%
LGTY	C	0.03%
DH	F	0.03%
OOMA	B	0.03%
ALRS	D	0.03%
BBCP	D	0.03%
RLGT	B	0.03%
FPI	B	0.03%
CURV	D	0.03%
CMT	C	0.03%
MEC	F	0.03%
VPG	F	0.03%
NTST	C	0.03%
PRO	C	0.03%
ENFN	B	0.03%
CDMO	A	0.03%
ACNB	B	0.03%
DHIL	B	0.03%
RMNI	C	0.03%
HDSN	F	0.03%
FBIZ	B	0.03%
DENN	D	0.03%
FSBW	C	0.03%
KRUS	B	0.03%
ACDC	B	0.03%
MCS	B	0.03%
YORW	F	0.03%
FORR	C	0.03%
NVEC	B	0.03%
AXGN	C	0.03%
DJCO	B	0.03%
TRNS	D	0.03%
OSUR	F	0.03%
TZOO	A	0.03%
FF	F	0.03%
BSRR	B	0.03%
QUAD	C	0.03%
EPM	A	0.03%
JOUT	F	0.03%
IRMD	C	0.03%
IPI	C	0.03%
ESQ	B	0.03%
SMLR	B	0.03%
ZIMV	D	0.03%
SHBI	B	0.02%
OIS	B	0.02%
DCGO	B	0.02%
DGICA	A	0.02%
CMP	C	0.02%
CZFS	B	0.02%
III	C	0.02%
PCYO	A	0.02%
CFFI	A	0.02%
SIGA	F	0.02%
RM	C	0.02%
MPAA	B	0.02%
SRDX	B	0.02%
TRC	F	0.02%
PINE	C	0.02%
SMTI	B	0.02%
NRC	F	0.02%
PBPB	C	0.02%
HCAT	D	0.02%
AGS	A	0.02%
KIDS	D	0.02%
RCKY	F	0.02%
CCRD	B	0.02%
ARTNA	F	0.02%
HRTG	C	0.02%
FMAO	B	0.02%
EEX	C	0.02%
AOUT	B	0.02%
ALTG	C	0.02%
XPOF	C	0.02%
PUBM	C	0.02%
CASS	C	0.02%
BCML	B	0.02%
PKBK	A	0.02%
FRPH	B	0.02%
MNTK	F	0.02%
PTLO	F	0.02%
ITIC	A	0.02%
ATEX	F	0.02%
CTLP	B	0.02%
MG	D	0.02%
FNLC	C	0.02%
GNTY	A	0.02%
NATR	C	0.02%
PKE	B	0.02%
OFLX	D	0.02%
ASRT	D	0.02%
UTMD	F	0.02%
FLWS	D	0.02%
VRA	C	0.02%
KRNY	C	0.02%
RGCO	B	0.02%
FLIC	B	0.02%
MEI	F	0.02%
UPLD	B	0.02%
BMRC	B	0.02%
IBUY	B	0.02%
CHGG	C	0.02%
NRIM	A	0.02%
RCMT	C	0.02%
OVLY	B	0.02%
KLXE	C	0.02%
ZYXI	D	0.02%
AROW	B	0.02%
LPRO	B	0.02%
HONE	C	0.02%
BCBP	B	0.02%
ARC	A	0.02%
BOOM	F	0.02%
RDUS	B	0.02%
AVNW	F	0.02%
RELL	B	0.02%
RRBI	A	0.02%
CBNK	B	0.02%
OBT	C	0.02%
FC	F	0.02%
SAMG	B	0.01%
CRNC	C	0.01%
PVBC	B	0.01%
HBIO	F	0.01%
MBCN	C	0.01%
EVC	C	0.01%
PBYI	C	0.01%
DHX	D	0.01%
EGAN	C	0.01%
INFU	B	0.01%
LTRX	F	0.01%
SSTI	C	0.01%
NKSH	C	0.01%
MVBF	C	0.01%
WSBF	C	0.01%
FRBA	D	0.01%
SFST	B	0.01%
LCNB	B	0.01%
NWFL	C	0.01%
STKS	F	0.01%
POWW	F	0.01%
FDBC	C	0.01%
ASLE	C	0.01%
EVI	F	0.01%
MRAM	D	0.01%
INTT	C	0.01%
WTI	F	0.01%
PSTL	D	0.01%
INBK	B	0.01%
CZNC	C	0.01%
TUSK	F	0.01%
AEHR	F	0.01%
BWMN	C	0.01%
JYNT	C	0.01%
CRMT	D	0.01%
CVGW	D	0.01%
BTMD	B	0.01%
CLDT	B	0.01%
TSBK	A	0.01%
CVGI	F	0.01%
UEIC	B	0.01%
NEWT	C	0.01%
FRST	B	0.01%
CBAN	B	0.01%
TBI	F	0.01%
CHCT	C	0.01%
ESCA	B	0.01%
LPSN	F	0.0%
HGBL	F	0.0%
BGFV	F	0.0%
EZM	A	0.0%
SPWH	F	0.0%
LUNA	F	0.0%
KFS	B	0.0%
ATLO	C	0.0%
OPRX	F	0.0%

EES Underweight 207 Positions Relative to QVMS

Symbol	Grade	Weight
MLI	B	-0.84%
CMA	B	-0.71%
CRS	B	-0.69%
RHI	C	-0.59%
JXN	C	-0.58%
GKOS	B	-0.56%
ATI	C	-0.55%
SPSC	D	-0.54%
VFC	C	-0.53%
AWI	A	-0.53%
COOP	B	-0.51%
MTH	D	-0.51%
MOG.A	B	-0.5%
LNC	C	-0.5%
BMI	B	-0.5%
AVAV	C	-0.48%
BCC	B	-0.47%
FSS	B	-0.47%
BCPC	B	-0.47%
ACIW	B	-0.47%
GPI	B	-0.46%
ABG	C	-0.46%
MATX	C	-0.46%
ALK	B	-0.46%
SM	B	-0.45%
MARA	B	-0.45%
MMSI	A	-0.44%
EPRT	B	-0.43%
MC	C	-0.43%
PIPR	A	-0.42%
ITRI	C	-0.42%
SEE	C	-0.42%
AL	B	-0.42%
RDN	D	-0.42%
ACA	A	-0.41%
MGY	A	-0.41%
IBP	D	-0.4%
ALKS	C	-0.39%
DY	D	-0.39%
CORT	B	-0.38%
SFBS	C	-0.38%
SLG	B	-0.37%
AGO	B	-0.37%
WHD	B	-0.36%
ABCB	B	-0.36%
ITGR	B	-0.36%
IDCC	B	-0.36%
FELE	B	-0.35%
AEIS	C	-0.35%
GTES	A	-0.35%
NSIT	F	-0.35%
SKYW	C	-0.35%
SIG	B	-0.35%
PECO	A	-0.35%
KTB	B	-0.35%
MHO	D	-0.34%
FUL	F	-0.34%
SANM	B	-0.34%
KRYS	C	-0.33%
PBH	A	-0.33%
OGN	F	-0.33%
PLXS	B	-0.33%
FTDR	B	-0.33%
NOG	B	-0.33%
RUSHA	C	-0.32%
KFY	B	-0.32%
CTRE	C	-0.32%
LRN	A	-0.32%
SEM	B	-0.32%
TPH	D	-0.32%
CRC	A	-0.31%
HCC	B	-0.31%
ABM	B	-0.31%
GMS	B	-0.31%
MAC	B	-0.31%
UCB	A	-0.31%
JBT	B	-0.3%
VRRM	F	-0.3%
WDFC	B	-0.3%
CATY	B	-0.3%
WD	D	-0.29%
MGEE	B	-0.29%
SKT	A	-0.29%
DXC	B	-0.29%
CEIX	A	-0.28%
ASO	F	-0.28%
ESE	B	-0.28%
OTTR	C	-0.28%
FBP	C	-0.28%
NPO	A	-0.28%
HP	C	-0.27%
AEO	F	-0.27%
APLE	B	-0.27%
AMR	C	-0.26%
FORM	D	-0.26%
GNW	A	-0.26%
IAC	F	-0.26%
APAM	B	-0.26%
TDW	F	-0.25%
CCOI	B	-0.25%
IOSP	C	-0.25%
ARCH	B	-0.25%
ALRM	C	-0.25%
PENN	C	-0.25%
NWL	C	-0.25%
CRVL	B	-0.25%
AWR	B	-0.24%
SHOO	F	-0.24%
TDS	B	-0.24%
BXMT	C	-0.24%
BL	B	-0.24%
CWEN	C	-0.24%
SMPL	B	-0.24%
BTU	B	-0.24%
AVA	A	-0.23%
PTEN	C	-0.23%
HASI	D	-0.23%
CWT	C	-0.23%
VCEL	B	-0.23%
LCII	C	-0.23%
UNF	B	-0.23%
AAP	D	-0.22%
LBRT	D	-0.22%
DIOD	D	-0.22%
ABR	C	-0.22%
HI	C	-0.22%
B	A	-0.21%
JJSF	C	-0.21%
ACLS	F	-0.21%
ARCB	C	-0.21%
KLIC	B	-0.21%
AIN	C	-0.21%
CWK	C	-0.21%
HBI	B	-0.21%
LXP	D	-0.21%
IPAR	B	-0.2%
CNS	B	-0.2%
KWR	C	-0.19%
FL	F	-0.19%
PHIN	A	-0.19%
YELP	C	-0.19%
MPW	F	-0.18%
CNMD	C	-0.17%
JBLU	F	-0.17%
LGIH	F	-0.17%
MCY	A	-0.17%
PTGX	D	-0.17%
URBN	C	-0.17%
NEO	C	-0.16%
KSS	F	-0.16%
GO	C	-0.16%
CABO	B	-0.16%
TRUP	B	-0.15%
FTRE	D	-0.15%
VSTS	C	-0.14%
BANF	B	-0.14%
JOE	F	-0.14%
CALX	D	-0.14%
IART	C	-0.14%
MYGN	F	-0.12%
PEB	D	-0.12%
GNL	F	-0.11%
SPNT	B	-0.11%
ELME	D	-0.11%
WS	C	-0.11%
JBGS	F	-0.1%
WOR	F	-0.1%
UNFI	A	-0.1%
CRK	B	-0.1%
WT	A	-0.1%
AMN	F	-0.09%
ICHR	C	-0.09%
FIZZ	C	-0.09%
PMT	C	-0.09%
FDP	B	-0.09%
RC	D	-0.09%
AORT	B	-0.09%
CENX	B	-0.09%
ARI	C	-0.09%
MMI	C	-0.08%
VVI	C	-0.08%
EFC	C	-0.08%
PRAA	D	-0.08%
VTOL	B	-0.08%
LPG	F	-0.08%
KLG	B	-0.08%
CSR	B	-0.08%
FBRT	D	-0.08%
BLFS	C	-0.07%
RWT	D	-0.07%
NBR	C	-0.06%
GPRE	F	-0.06%
AXL	C	-0.06%
AOSL	C	-0.06%
RCUS	F	-0.06%
HTZ	C	-0.05%
VSAT	F	-0.05%
CVI	F	-0.05%
KREF	C	-0.05%
NVRI	D	-0.05%
INN	D	-0.05%
RGNX	D	-0.04%
SVC	F	-0.04%
HPP	F	-0.04%
UFCS	A	-0.04%
FLGT	F	-0.03%
THRY	D	-0.03%