ESML vs. DES ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to SmallCap Dividend Fund (DES)

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

$43.29

Average Daily Volume

103,565

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

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

$35.97

Average Daily Volume

113,070

Number of Holdings ^*

567

* may have additional holdings in another (foreign) market

Performance

Period	ESML	DES
30 Days	1.19%	2.36%
60 Days	6.06%	6.79%
90 Days	11.14%	9.48%
12 Months	30.32%	28.40%

189 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in DES	Overlap
AAT	C	0.07%	0.07%	0.07%
ABCB	A	0.11%	0.19%	0.11%
ABM	B	0.09%	0.27%	0.09%
ACA	B	0.14%	0.2%	0.14%
AEIS	B	0.17%	0.18%	0.17%
AHH	D	0.04%	0.03%	0.03%
ALG	B	0.08%	0.1%	0.08%
AMAL	B	0.1%	0.06%	0.06%
ANDE	C	0.06%	0.11%	0.06%
ARCB	C	0.05%	0.11%	0.05%
ARKO	D	0.05%	0.08%	0.05%
AROC	A	0.1%	0.68%	0.1%
ASB	A	0.17%	0.49%	0.17%
ASTE	B	0.05%	0.09%	0.05%
ATEN	A	0.06%	0.12%	0.06%
AUB	A	0.11%	0.33%	0.11%
AVA	C	0.19%	0.44%	0.19%
AVNT	A	0.07%	0.46%	0.07%
AWR	A	0.05%	0.31%	0.05%
AZZ	B	0.07%	0.15%	0.07%
BANC	A	0.06%	0.19%	0.06%
BANR	A	0.18%	0.23%	0.18%
BDC	B	0.2%	0.21%	0.2%
BGC	B	0.05%	0.18%	0.05%
BHE	B	0.16%	0.23%	0.16%
BHLB	A	0.2%	0.1%	0.1%
BKU	A	0.06%	0.26%	0.06%
BNL	D	0.05%	0.62%	0.05%
BOH	A	0.08%	0.34%	0.08%
BRC	C	0.09%	0.29%	0.09%
BRY	F	0.03%	0.1%	0.03%
CABO	B	0.13%	0.17%	0.13%
CAC	A	0.1%	0.06%	0.06%
CAKE	A	0.06%	0.29%	0.06%
CAL	D	0.04%	0.09%	0.04%
CALM	A	0.06%	0.15%	0.06%
CBU	A	0.06%	0.34%	0.06%
CCOI	B	0.1%	0.72%	0.1%
CCS	F	0.06%	0.16%	0.06%
CDP	C	0.21%	0.33%	0.21%
CLB	C	0.06%	0.07%	0.06%
CMCO	C	0.06%	0.08%	0.06%
CMP	B	0.06%	0.06%	0.06%
CNMD	C	0.05%	0.09%	0.05%
CNO	A	0.2%	0.23%	0.2%
CPF	A	0.15%	0.08%	0.08%
CPK	A	0.13%	0.22%	0.13%
CRAI	B	0.05%	0.17%	0.05%
CRC	B	0.1%	0.45%	0.1%
CRI	D	0.04%	0.37%	0.04%
CRS	A	0.15%	0.5%	0.15%
CSGS	A	0.11%	0.21%	0.11%
CTS	B	0.07%	0.1%	0.07%
CUZ	B	0.21%	0.37%	0.21%
CVBF	A	0.12%	0.32%	0.12%
CWT	C	0.04%	0.21%	0.04%
DEA	D	0.07%	0.06%	0.06%
DEI	B	0.02%	0.12%	0.02%
DK	D	0.04%	0.14%	0.04%
DLX	A	0.06%	0.23%	0.06%
EE	A	0.07%	0.09%	0.07%
EFSC	A	0.11%	0.11%	0.11%
EGY	F	0.04%	0.14%	0.04%
EMBC	C	0.05%	0.12%	0.05%
ENR	A	0.07%	0.3%	0.07%
EPAC	B	0.13%	0.12%	0.12%
EPC	F	0.04%	0.14%	0.04%
EPR	D	0.05%	0.72%	0.05%
EPRT	C	0.18%	0.56%	0.18%
ESE	A	0.09%	0.14%	0.09%
ESRT	D	0.07%	0.07%	0.07%
FBP	A	0.2%	0.49%	0.2%
FFBC	A	0.05%	0.44%	0.05%
FIBK	A	0.15%	0.63%	0.15%
FULT	A	0.12%	0.36%	0.12%
GBX	A	0.07%	0.25%	0.07%
GEF	A	0.05%	0.25%	0.05%
GEF	A	0.05%	0.25%	0.05%
GVA	A	0.08%	0.23%	0.08%
HAFC	A	0.07%	0.08%	0.07%
HCC	B	0.05%	0.15%	0.05%
HI	C	0.07%	0.17%	0.07%
HL	D	0.04%	0.15%	0.04%
HNI	A	0.15%	0.29%	0.15%
HRI	B	0.24%	0.46%	0.24%
HWC	A	0.09%	0.34%	0.09%
HWKN	C	0.07%	0.19%	0.07%
IBCP	A	0.14%	0.07%	0.07%
IBOC	A	0.06%	0.42%	0.06%
ICFI	F	0.08%	0.13%	0.08%
IDCC	A	0.14%	0.38%	0.14%
INDB	A	0.08%	0.28%	0.08%
IOSP	C	0.08%	0.21%	0.08%
JBGS	D	0.05%	0.07%	0.05%
JBT	B	0.08%	0.16%	0.08%
JWN	A	0.06%	0.56%	0.06%
KELYA	F	0.03%	0.07%	0.03%
KFY	B	0.09%	0.22%	0.09%
KLG	F	0.05%	0.34%	0.05%
KLIC	C	0.13%	0.17%	0.13%
KMPR	A	0.05%	0.26%	0.05%
KNTK	A	0.18%	0.72%	0.18%
KOP	C	0.08%	0.06%	0.06%
KSS	F	0.05%	0.51%	0.05%
KTB	A	0.16%	0.58%	0.16%
LCII	D	0.1%	0.35%	0.1%
LEG	F	0.05%	0.36%	0.05%
LNN	B	0.08%	0.1%	0.08%
LXP	D	0.06%	0.15%	0.06%
MAC	A	0.08%	0.2%	0.08%
MC	B	0.02%	0.61%	0.02%
MEI	F	0.04%	0.04%	0.04%
MGRC	B	0.09%	0.21%	0.09%
MLKN	F	0.04%	0.18%	0.04%
MMI	A	0.05%	0.06%	0.05%
MNRO	B	0.05%	0.15%	0.05%
MOV	C	0.06%	0.06%	0.06%
MTRN	C	0.06%	0.1%	0.06%
MTX	B	0.12%	0.11%	0.11%
MWA	A	0.25%	0.28%	0.25%
NBHC	A	0.05%	0.13%	0.05%
NBTB	A	0.06%	0.19%	0.06%
NPO	A	0.13%	0.18%	0.13%
NWN	A	0.07%	0.25%	0.07%
OGN	F	0.09%	1.07%	0.09%
OGS	A	0.31%	0.54%	0.31%
PAHC	A	0.06%	0.1%	0.06%
PBI	C	0.05%	0.29%	0.05%
PCH	D	0.17%	0.14%	0.14%
PDCO	F	0.13%	0.26%	0.13%
PEB	F	0.06%	0.06%	0.06%
PFS	A	0.05%	0.33%	0.05%
PINC	B	0.14%	0.36%	0.14%
PIPR	A	0.08%	0.24%	0.08%
PJT	A	0.1%	0.15%	0.1%
PK	C	0.06%	0.12%	0.06%
PLOW	D	0.05%	0.11%	0.05%
POWL	C	0.09%	0.38%	0.09%
PPBI	A	0.06%	0.36%	0.06%
PRGS	B	0.24%	0.17%	0.17%
PRIM	A	0.14%	0.22%	0.14%
PSMT	D	0.05%	0.16%	0.05%
RDUS	C	0.1%	0.08%	0.08%
REVG	A	0.05%	0.15%	0.05%
RNST	A	0.08%	0.15%	0.08%
RUSHA	B	0.05%	0.39%	0.05%
RUSHB	B	0.06%	0.08%	0.06%
SASR	A	0.08%	0.24%	0.08%
SBRA	C	0.08%	0.63%	0.08%
SCL	D	0.1%	0.13%	0.1%
SEM	B	0.07%	0.37%	0.07%
SFBS	A	0.06%	0.24%	0.06%
SHOO	D	0.11%	0.36%	0.11%
SJW	F	0.09%	0.2%	0.09%
SKT	A	0.07%	0.23%	0.07%
SLG	B	0.1%	0.62%	0.1%
SLM	A	0.16%	0.35%	0.16%
SLVM	B	0.05%	0.45%	0.05%
SMP	C	0.05%	0.11%	0.05%
SPB	C	0.08%	0.27%	0.08%
SR	A	0.14%	0.49%	0.14%
STC	A	0.08%	0.15%	0.08%
SXT	C	0.07%	0.32%	0.07%
TDS	B	0.08%	0.44%	0.08%
TEX	D	0.08%	0.19%	0.08%
TGNA	B	0.2%	0.38%	0.2%
TILE	A	0.08%	0.14%	0.08%
TNC	F	0.05%	0.14%	0.05%
TNL	A	0.16%	0.61%	0.16%
TRN	A	0.1%	0.4%	0.1%
UCB	A	0.04%	0.33%	0.04%
UMBF	A	0.27%	0.28%	0.27%
UPBD	B	0.06%	0.28%	0.06%
VAC	B	0.08%	0.44%	0.08%
VBTX	A	0.06%	0.15%	0.06%
VCTR	B	0.07%	0.6%	0.07%
VRTS	A	0.06%	0.23%	0.06%
VSEC	B	0.08%	0.13%	0.08%
VSTS	F	0.05%	0.08%	0.05%
WD	D	0.06%	0.25%	0.06%
WDFC	A	0.11%	0.26%	0.11%
WERN	B	0.12%	0.14%	0.12%
WGO	B	0.12%	0.14%	0.12%
WHD	B	0.12%	0.28%	0.12%
WKC	C	0.05%	0.19%	0.05%
WNC	C	0.05%	0.08%	0.05%
XHR	B	0.07%	0.07%	0.07%
XRX	F	0.04%	0.3%	0.04%
ZEUS	C	0.05%	0.05%	0.05%

ESML Overweight 715 Positions Relative to DES

Symbol	Grade	Weight
CASY	B	0.52%
JHG	A	0.51%
USFD	B	0.49%
CVNA	A	0.48%
SFM	A	0.43%
GWRE	B	0.43%
INGR	B	0.42%
EWBC	A	0.4%
FIX	A	0.38%
NTNX	A	0.36%
KBR	D	0.35%
FTI	A	0.35%
AYI	A	0.34%
JLL	C	0.34%
MUSA	A	0.34%
FLEX	B	0.33%
XPO	B	0.33%
IBKR	A	0.32%
FRT	B	0.31%
REXR	F	0.31%
NTRA	B	0.31%
OSK	C	0.3%
GBCI	A	0.3%
BWXT	A	0.3%
BMI	B	0.3%
RGA	A	0.3%
PNFP	A	0.3%
SNV	A	0.3%
SIGI	A	0.29%
TPR	A	0.29%
EHC	B	0.29%
RGLD	C	0.29%
R	A	0.29%
SUM	B	0.28%
CNX	A	0.28%
DTM	A	0.28%
COHR	B	0.28%
SAIA	B	0.28%
ITT	A	0.28%
SCI	B	0.27%
TOL	B	0.27%
AVT	C	0.27%
WBS	A	0.27%
SSB	A	0.27%
AXTA	A	0.27%
BLD	F	0.26%
GPK	D	0.26%
ALSN	B	0.26%
WEX	F	0.25%
UNM	A	0.25%
DCI	B	0.25%
AAON	A	0.25%
RRC	B	0.25%
BJ	B	0.25%
WCC	A	0.24%
FTAI	A	0.24%
UGI	C	0.24%
RNR	D	0.24%
MOG.A	B	0.24%
IVZ	B	0.24%
ATR	B	0.24%
NCLH	B	0.24%
REZI	A	0.23%
AFRM	A	0.23%
CBSH	A	0.23%
ARMK	C	0.23%
PRI	A	0.23%
AWI	A	0.23%
EXLS	B	0.23%
ALK	A	0.23%
CW	B	0.23%
FHN	A	0.23%
THC	C	0.23%
MTG	C	0.23%
SOFI	A	0.22%
FTDR	B	0.22%
CNM	F	0.22%
LAD	A	0.22%
GNRC	B	0.22%
FELE	B	0.22%
WAL	A	0.22%
CMC	B	0.22%
CVLT	B	0.22%
AR	B	0.22%
EGP	D	0.21%
CMA	A	0.21%
CACI	C	0.21%
WMS	F	0.21%
WTS	A	0.21%
INSM	D	0.21%
PCVX	D	0.21%
ONTO	F	0.21%
LSTR	D	0.21%
RHI	B	0.21%
GME	C	0.21%
NJR	A	0.21%
ITRI	B	0.2%
HOG	D	0.2%
FND	F	0.2%
LECO	C	0.2%
KNSL	C	0.2%
WHR	A	0.2%
PLNT	A	0.2%
KBH	D	0.2%
MTN	C	0.2%
CUBE	C	0.2%
OMF	A	0.2%
NFG	A	0.2%
PCTY	B	0.2%
ZION	A	0.2%
ENSG	D	0.2%
RLI	A	0.2%
HHH	B	0.2%
WK	B	0.2%
BFAM	F	0.2%
ZWS	B	0.2%
PR	C	0.19%
AMG	A	0.19%
WING	F	0.19%
CIEN	B	0.19%
FCN	F	0.19%
LUMN	C	0.19%
HAS	D	0.19%
ONB	B	0.19%
AXS	A	0.19%
HRB	D	0.19%
LNW	D	0.19%
OHI	C	0.19%
SNDR	B	0.19%
DAR	B	0.19%
FRPT	B	0.19%
GPI	A	0.19%
AA	A	0.19%
NOVT	D	0.19%
RHP	B	0.19%
WWD	B	0.19%
CR	A	0.19%
NVT	B	0.19%
SF	A	0.18%
SRPT	F	0.18%
NYT	D	0.18%
BWA	A	0.18%
SPXC	A	0.18%
THG	A	0.18%
GKOS	B	0.18%
MORN	B	0.18%
DUOL	B	0.18%
MDU	D	0.18%
VFC	B	0.18%
ENLC	A	0.18%
MTH	D	0.17%
LAZ	B	0.17%
CHX	C	0.17%
BERY	D	0.17%
FN	C	0.17%
TMHC	B	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
PLXS	B	0.17%
VVV	B	0.17%
LPX	A	0.17%
UBSI	A	0.17%
MSA	D	0.17%
GATX	A	0.17%
WSC	F	0.17%
MTZ	B	0.17%
DLB	D	0.16%
RGEN	D	0.16%
BRX	A	0.16%
MYRG	B	0.16%
DBX	C	0.16%
TTEK	D	0.16%
FAF	C	0.16%
EAT	A	0.16%
HQY	A	0.16%
SPSC	D	0.16%
TKO	C	0.16%
ACIW	B	0.16%
BCC	B	0.16%
JAZZ	A	0.16%
SITE	D	0.16%
FLS	A	0.16%
ELAN	C	0.16%
GXO	B	0.16%
VOYA	A	0.16%
PVH	C	0.16%
CFLT	C	0.15%
VLY	A	0.15%
ECG	D	0.15%
CADE	A	0.15%
WH	A	0.15%
MEDP	D	0.15%
CRUS	F	0.15%
CROX	F	0.15%
MMSI	A	0.15%
FSS	C	0.15%
ANF	C	0.15%
AM	A	0.15%
VNT	C	0.15%
NOV	D	0.15%
LSCC	D	0.15%
RRX	B	0.15%
ITCI	B	0.15%
MOD	C	0.15%
WFRD	F	0.15%
GTLB	B	0.15%
OZK	A	0.14%
HXL	F	0.14%
BECN	B	0.14%
X	D	0.14%
CHDN	C	0.14%
GTLS	A	0.14%
ESI	B	0.14%
LFUS	D	0.14%
CHE	D	0.14%
RYAN	A	0.14%
TPH	D	0.14%
SMAR	A	0.14%
ALTR	B	0.14%
RMBS	C	0.14%
MKSI	D	0.14%
BILL	A	0.14%
ASGN	D	0.14%
TPX	A	0.14%
CZR	F	0.14%
ATI	D	0.14%
JXN	B	0.14%
FMC	F	0.14%
NSIT	F	0.13%
AVAV	C	0.13%
M	C	0.13%
HESM	C	0.13%
BRKR	F	0.13%
CAVA	B	0.13%
AIT	A	0.13%
MAT	C	0.13%
STRL	B	0.13%
CBT	C	0.13%
FYBR	C	0.13%
LRN	A	0.13%
ORI	A	0.13%
KNF	B	0.13%
SWX	A	0.13%
ITGR	B	0.13%
CYTK	D	0.13%
AZEK	B	0.13%
MUR	F	0.13%
BOX	B	0.13%
WTM	A	0.13%
BCPC	B	0.13%
VMI	B	0.13%
ELF	C	0.13%
COLB	A	0.13%
AGCO	D	0.13%
HIW	D	0.13%
AGNC	C	0.12%
OLLI	D	0.12%
EVR	A	0.12%
DFIN	D	0.12%
YETI	F	0.12%
IRDM	C	0.12%
QTWO	A	0.12%
KOS	D	0.12%
RKLB	B	0.12%
BLKB	D	0.12%
S	B	0.12%
GL	B	0.12%
ABG	A	0.12%
CRDO	C	0.12%
THO	B	0.12%
ADT	B	0.12%
GAP	C	0.12%
HAE	A	0.12%
PEGA	B	0.11%
PATH	D	0.11%
TXRH	A	0.11%
JEF	A	0.11%
DXC	C	0.11%
ORA	B	0.11%
KRC	C	0.11%
GMED	A	0.11%
VKTX	F	0.11%
LYFT	B	0.11%
XENE	D	0.11%
CRNX	C	0.11%
APPF	C	0.11%
ECPG	A	0.11%
SON	D	0.11%
ADC	A	0.11%
MRCY	B	0.11%
HALO	D	0.11%
LBRDA	B	0.11%
KAR	A	0.11%
VC	F	0.1%
RXO	C	0.1%
CFR	A	0.1%
NWL	B	0.1%
TDC	F	0.1%
HASI	F	0.1%
ERII	B	0.1%
RVMD	B	0.1%
HCP	B	0.1%
BRBR	A	0.1%
TENB	D	0.1%
ALKS	B	0.1%
FA	D	0.1%
SSD	D	0.1%
DV	C	0.1%
STWD	D	0.1%
FUL	F	0.1%
VECO	F	0.1%
NXT	C	0.1%
ETSY	D	0.1%
DY	C	0.1%
BHVN	C	0.1%
DNLI	C	0.1%
DRS	B	0.1%
APAM	A	0.1%
LITE	A	0.1%
PFSI	D	0.1%
FLR	B	0.1%
TRNO	D	0.1%
AL	A	0.1%
RDNT	B	0.1%
KD	A	0.1%
SIG	B	0.1%
CGNX	D	0.1%
ALTM	C	0.1%
PSN	C	0.1%
LNTH	F	0.1%
FIVE	F	0.1%
LEA	F	0.1%
VNO	B	0.09%
AMED	F	0.09%
RNA	C	0.09%
NMIH	D	0.09%
UPST	B	0.09%
U	F	0.09%
ARW	D	0.09%
CNK	A	0.09%
WEN	C	0.09%
POST	D	0.09%
SHAK	B	0.09%
RDN	C	0.09%
FR	D	0.09%
CURB	D	0.09%
SLAB	F	0.09%
ZI	D	0.09%
MTSI	B	0.09%
OPCH	F	0.09%
NXST	D	0.09%
RL	B	0.09%
ATKR	C	0.09%
MARA	B	0.09%
CRVL	B	0.09%
IMAX	B	0.09%
IBP	F	0.09%
LNC	A	0.09%
ACHC	F	0.09%
EVRI	A	0.08%
AVPT	A	0.08%
AMWD	B	0.08%
BXMT	D	0.08%
ICUI	D	0.08%
OLED	F	0.08%
KTOS	B	0.08%
AUR	D	0.08%
EWTX	C	0.08%
BPMC	D	0.08%
IESC	B	0.08%
BL	B	0.08%
TBBK	A	0.08%
ACLX	C	0.08%
SNX	D	0.08%
CRSP	D	0.08%
BPOP	C	0.08%
INTA	B	0.08%
ST	F	0.08%
TNET	F	0.08%
PLYA	A	0.08%
PRVA	B	0.08%
LBPH	A	0.08%
CHWY	B	0.08%
INSP	F	0.08%
ENOV	C	0.08%
TARS	B	0.08%
PRKS	A	0.08%
BWIN	D	0.08%
AEO	F	0.08%
HR	C	0.08%
NTGR	A	0.08%
UNIT	B	0.08%
PRCT	B	0.08%
DOCS	C	0.08%
ZD	B	0.08%
PLMR	A	0.08%
MIR	A	0.08%
RARE	F	0.07%
LBRDK	B	0.07%
UEC	B	0.07%
CWEN	D	0.07%
WU	F	0.07%
GT	C	0.07%
HGV	B	0.07%
SEE	B	0.07%
PECO	A	0.07%
COLM	B	0.07%
VSCO	A	0.07%
TREX	C	0.07%
CWK	B	0.07%
GTES	B	0.07%
BDN	D	0.07%
ESNT	D	0.07%
VVX	C	0.07%
SONO	C	0.07%
PRGO	C	0.07%
ZYME	B	0.07%
ROG	D	0.07%
ALHC	C	0.07%
AZTA	F	0.07%
HIMS	C	0.07%
MHK	D	0.07%
GH	B	0.07%
BROS	A	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
HBI	A	0.07%
BC	D	0.07%
WTFC	A	0.07%
WRBY	A	0.07%
AN	D	0.07%
PI	D	0.07%
CCCS	A	0.07%
OUT	C	0.07%
PAR	A	0.07%
UNFI	A	0.07%
ATGE	B	0.06%
CBZ	B	0.06%
VRRM	D	0.06%
CAR	C	0.06%
FNA	B	0.06%
WT	A	0.06%
SG	C	0.06%
AAP	D	0.06%
TMCI	C	0.06%
CLSK	C	0.06%
IRON	C	0.06%
PRO	C	0.06%
DCO	A	0.06%
VERA	B	0.06%
RBBN	B	0.06%
PBF	D	0.06%
SATS	D	0.06%
W	F	0.06%
MBUU	C	0.06%
PTCT	B	0.06%
PLAY	C	0.06%
EXPO	D	0.06%
AXSM	B	0.06%
AGIO	B	0.06%
NRIX	C	0.06%
VRNT	D	0.06%
COKE	C	0.06%
POWI	D	0.06%
CHH	A	0.06%
TGTX	B	0.06%
CWAN	B	0.06%
TDOC	C	0.06%
EXP	B	0.06%
CLH	C	0.06%
ROCK	C	0.06%
PNTG	D	0.06%
AIR	B	0.06%
CLNE	D	0.06%
MGNI	A	0.06%
AGO	A	0.06%
KROS	C	0.06%
FL	F	0.06%
VREX	C	0.06%
FROG	C	0.06%
PYCR	C	0.06%
HELE	C	0.06%
CART	C	0.06%
BOOT	C	0.06%
SMTC	C	0.06%
PLUS	F	0.06%
OWL	A	0.06%
NVST	C	0.06%
ACVA	A	0.06%
SM	C	0.06%
RCM	A	0.06%
ROIV	D	0.06%
FLYW	B	0.06%
APG	C	0.06%
IDYA	F	0.06%
HURN	B	0.06%
EYE	C	0.06%
ADMA	C	0.06%
MNKD	B	0.06%
TALO	C	0.06%
TGI	A	0.06%
BYD	A	0.06%
AVDX	C	0.06%
VNOM	B	0.06%
FRSH	B	0.06%
KE	C	0.06%
ENV	B	0.06%
FUN	B	0.06%
KREF	D	0.06%
VRNS	D	0.06%
CLF	F	0.06%
MRUS	D	0.06%
FOUR	B	0.06%
MAN	F	0.06%
VRDN	C	0.06%
VERX	A	0.06%
PDM	D	0.06%
MASI	A	0.06%
RH	C	0.06%
VVI	A	0.06%
FFIN	A	0.06%
COMP	B	0.06%
OII	B	0.06%
PAYO	A	0.06%
NARI	C	0.06%
SWTX	C	0.05%
RXST	F	0.05%
EWCZ	D	0.05%
TWST	F	0.05%
HZO	F	0.05%
AXL	C	0.05%
ARVN	D	0.05%
NUVB	C	0.05%
THRM	F	0.05%
ETNB	D	0.05%
HLX	D	0.05%
RYN	D	0.05%
ALRM	C	0.05%
IONS	F	0.05%
DOCN	D	0.05%
SHC	D	0.05%
CECO	C	0.05%
LEVI	F	0.05%
ICHR	C	0.05%
FTRE	D	0.05%
INFA	F	0.05%
CPRX	C	0.05%
GERN	F	0.05%
APGE	D	0.05%
FLG	F	0.05%
CDE	D	0.05%
CLVT	F	0.05%
XRAY	F	0.05%
GOGO	C	0.05%
ACEL	B	0.05%
BASE	C	0.05%
MLTX	C	0.05%
SLNO	C	0.05%
INVX	C	0.05%
PENN	B	0.05%
ASAN	C	0.05%
MLNK	C	0.05%
MODG	F	0.05%
MPW	F	0.05%
AI	C	0.05%
AMBC	C	0.05%
PTGX	D	0.05%
BEAM	D	0.05%
XPEL	B	0.05%
PGRE	C	0.05%
EDR	A	0.05%
RUN	F	0.05%
DGII	B	0.05%
PRAA	C	0.05%
HAIN	F	0.05%
INFN	C	0.05%
MRC	B	0.05%
SPR	D	0.05%
VITL	F	0.05%
LCID	F	0.05%
ELVN	C	0.05%
CWEN	D	0.05%
MTTR	B	0.05%
GO	C	0.05%
KYMR	C	0.05%
HAYW	A	0.05%
NEO	C	0.05%
XPRO	F	0.05%
RAMP	C	0.05%
ZUO	A	0.05%
VYX	C	0.05%
OMCL	C	0.05%
JANX	C	0.05%
PDFS	D	0.05%
CSTL	C	0.05%
IART	C	0.05%
CC	C	0.05%
MHO	D	0.05%
PRG	A	0.05%
TMDX	F	0.05%
SKY	A	0.05%
BE	A	0.05%
ADUS	D	0.05%
LIVN	C	0.05%
AORT	B	0.05%
SMPL	B	0.05%
SBH	A	0.05%
MDGL	C	0.05%
CUBI	B	0.05%
ARWR	D	0.05%
KVYO	C	0.05%
LOPE	B	0.05%
UFPT	C	0.05%
RNG	B	0.05%
DNOW	A	0.05%
HLIT	F	0.05%
ARQT	D	0.05%
NUVL	D	0.05%
YELP	C	0.05%
UAA	B	0.05%
MXL	C	0.05%
NCNO	B	0.05%
COOP	B	0.05%
COLD	F	0.05%
CALX	F	0.05%
AGYS	A	0.05%
ALKT	B	0.05%
PD	C	0.05%
CIVI	F	0.05%
RCKT	F	0.04%
OMI	F	0.04%
FOXF	F	0.04%
CLW	F	0.04%
HPP	F	0.04%
FORM	F	0.04%
BKD	F	0.04%
HOUS	F	0.04%
GPRE	F	0.04%
FLGT	F	0.04%
NEP	F	0.04%
KURA	F	0.04%
QS	F	0.04%
PRTA	F	0.04%
NTLA	F	0.04%
PGNY	F	0.04%
CLDX	F	0.04%
ESTA	D	0.04%
SPT	C	0.04%
JAMF	F	0.04%
ARCT	F	0.04%
CXM	C	0.04%
TNDM	F	0.04%
CGEM	F	0.04%
COUR	F	0.04%
SAVA	C	0.04%
LESL	C	0.04%
SIBN	D	0.04%
SNDX	D	0.04%
IMVT	D	0.04%
RCUS	F	0.04%
NABL	F	0.04%
MTUS	F	0.04%
MMS	D	0.04%
AMN	F	0.04%
OSCR	F	0.04%
AMC	C	0.04%
ASH	F	0.04%
PLUG	D	0.04%
DYN	F	0.04%
PLRX	D	0.04%
BBIO	F	0.04%
QDEL	F	0.04%
ARLO	D	0.04%
ALEC	F	0.04%
FLO	D	0.04%
PTEN	D	0.04%
NVCR	D	0.04%
IVR	D	0.04%
BRZE	C	0.04%
LGF.A	F	0.04%
THS	F	0.04%
KRYS	D	0.04%
RXRX	F	0.04%
GRBK	D	0.04%
TROX	F	0.04%
COGT	D	0.04%
RKT	F	0.04%
NEOG	D	0.04%
NVAX	F	0.03%
ANAB	F	0.03%
WOLF	F	0.03%
MEG	F	0.03%
TXG	F	0.03%
SITC	D	0.03%
CNXC	F	0.03%
CDNA	D	0.03%
SVRA	F	0.03%
PHAT	F	0.03%
CRMT	F	0.03%
APLS	F	0.03%
CCRN	F	0.03%
CPRI	F	0.03%
MYGN	F	0.03%
ETWO	F	0.03%
MQ	F	0.03%
STAA	F	0.03%
JELD	F	0.03%
AGL	F	0.02%
NOVA	F	0.02%
VSAT	F	0.02%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	C	0.01%
MAGN	F	0.01%

ESML Underweight 379 Positions Relative to DES

Symbol	Grade	Weight
TFSL	A	-0.84%
CNS	B	-0.72%
ALE	A	-0.72%
TPG	B	-0.65%
NSA	C	-0.64%
BKH	A	-0.56%
SMG	D	-0.55%
NOG	A	-0.53%
NHI	D	-0.52%
CATY	A	-0.5%
NWE	C	-0.48%
FHB	A	-0.45%
PNM	B	-0.43%
CVI	D	-0.42%
VIRT	A	-0.4%
MGEE	A	-0.39%
BKE	A	-0.38%
PATK	C	-0.37%
SFNC	B	-0.37%
KRO	D	-0.37%
IIPR	F	-0.35%
OTTR	C	-0.35%
WWW	A	-0.34%
PHIN	A	-0.34%
NWBI	A	-0.33%
EBC	A	-0.32%
HP	C	-0.32%
AGX	B	-0.31%
MCY	A	-0.3%
AMSF	A	-0.3%
UVV	B	-0.3%
STEP	A	-0.3%
JJSF	C	-0.29%
NHC	B	-0.29%
MATX	B	-0.28%
WSBC	A	-0.27%
BANF	A	-0.27%
KMT	B	-0.27%
FRME	A	-0.27%
CBRL	C	-0.26%
CSWI	B	-0.26%
KALU	C	-0.26%
BCO	F	-0.26%
RRR	D	-0.26%
PRK	A	-0.26%
GFF	A	-0.25%
WOR	F	-0.25%
PTVE	C	-0.24%
APOG	B	-0.24%
HTLF	A	-0.23%
STRA	C	-0.23%
WTTR	A	-0.23%
LBRT	F	-0.23%
PRDO	B	-0.23%
IBTX	A	-0.23%
TOWN	A	-0.23%
GRNT	B	-0.23%
CTRE	D	-0.23%
USLM	A	-0.22%
AESI	D	-0.22%
HOPE	A	-0.22%
PEBO	A	-0.22%
TRMK	A	-0.21%
SCS	A	-0.21%
ENS	D	-0.21%
WINA	B	-0.21%
CHCO	A	-0.2%
VHI	C	-0.2%
HEES	B	-0.2%
IRT	A	-0.19%
UTL	C	-0.19%
WAFD	A	-0.19%
CXT	D	-0.19%
MCRI	A	-0.19%
BTU	B	-0.19%
CRGY	A	-0.19%
BLMN	F	-0.19%
ANET	C	-0.18%
PZZA	D	-0.18%
BFH	A	-0.18%
KAI	A	-0.18%
NGVC	A	-0.18%
GES	F	-0.18%
WMK	B	-0.18%
OFG	B	-0.18%
SXC	A	-0.18%
YOU	D	-0.18%
GHC	A	-0.17%
ULH	B	-0.17%
SBCF	A	-0.17%
WABC	A	-0.17%
AGM	A	-0.17%
LZB	A	-0.16%
LMAT	A	-0.16%
REPX	A	-0.16%
MLR	B	-0.16%
JBSS	F	-0.16%
NAVI	D	-0.16%
ETD	D	-0.16%
SXI	A	-0.16%
SAH	A	-0.16%
FCF	A	-0.16%
SRCE	A	-0.15%
ACCO	B	-0.15%
KFRC	D	-0.15%
VSH	F	-0.15%
PFBC	A	-0.15%
EBF	D	-0.15%
HMN	A	-0.15%
STBA	A	-0.15%
CTBI	A	-0.15%
GABC	A	-0.15%
OCFC	A	-0.15%
SCVL	F	-0.14%
HY	F	-0.14%
HCKT	A	-0.14%
EGBN	A	-0.14%
GIC	F	-0.14%
BUSE	A	-0.14%
HSII	B	-0.14%
TPB	A	-0.14%
OXM	F	-0.14%
AIN	C	-0.13%
BBSI	A	-0.13%
UTZ	D	-0.13%
ARCH	B	-0.13%
PFC	A	-0.13%
JOE	F	-0.13%
RES	F	-0.13%
MCS	B	-0.13%
ALX	D	-0.13%
DAN	F	-0.13%
KRT	A	-0.13%
USPH	C	-0.13%
NNI	C	-0.13%
GRC	B	-0.13%
BRKL	A	-0.13%
WSFS	A	-0.13%
KWR	C	-0.13%
HLIO	B	-0.12%
ASIX	B	-0.12%
UNF	A	-0.12%
SSTK	F	-0.12%
SBSI	B	-0.12%
SYBT	A	-0.12%
CFFN	A	-0.12%
CSV	B	-0.12%
CWH	B	-0.12%
MSEX	B	-0.12%
NPK	B	-0.12%
RBCAA	A	-0.12%
BGS	F	-0.12%
EIG	A	-0.12%
LTC	B	-0.12%
SAFT	A	-0.12%
LKFN	A	-0.12%
LYTS	A	-0.11%
TR	A	-0.11%
DNUT	D	-0.11%
TCBK	A	-0.11%
WASH	A	-0.11%
FBK	A	-0.11%
DCOM	A	-0.11%
FBNC	A	-0.11%
SPTN	F	-0.11%
MRTN	C	-0.1%
KW	C	-0.1%
JACK	D	-0.1%
LMNR	C	-0.1%
HTH	B	-0.1%
CNXN	D	-0.1%
SWBI	D	-0.1%
SPOK	B	-0.1%
NSSC	F	-0.1%
FCPT	C	-0.1%
GTY	C	-0.1%
RYI	B	-0.1%
CDRE	D	-0.1%
UE	B	-0.1%
AKR	B	-0.1%
DIN	C	-0.1%
HAYN	A	-0.1%
UWMC	F	-0.09%
FISI	A	-0.09%
HVT	F	-0.09%
SHO	D	-0.09%
FCBC	B	-0.09%
EXPI	C	-0.09%
SHYF	C	-0.09%
YORW	D	-0.09%
HFWA	A	-0.09%
WEYS	A	-0.09%
FBMS	A	-0.09%
HBNC	A	-0.09%
LGTY	B	-0.09%
DBRG	D	-0.09%
ODC	D	-0.09%
GTN	F	-0.09%
NMRK	B	-0.09%
BHRB	A	-0.09%
MATW	C	-0.09%
HTBK	A	-0.09%
NVEC	D	-0.09%
NX	C	-0.08%
TRAK	A	-0.08%
CVGW	C	-0.08%
DRH	B	-0.08%
VLGEA	A	-0.08%
METC	C	-0.08%
HSTM	B	-0.08%
MCBS	A	-0.08%
TRST	A	-0.08%
LOB	A	-0.08%
MPX	C	-0.08%
SAVE	F	-0.08%
GCMG	B	-0.08%
HPK	F	-0.08%
SCHL	F	-0.08%
PKOH	A	-0.08%
RGR	F	-0.08%
HBT	A	-0.08%
SD	F	-0.08%
MYE	F	-0.08%
MSB	B	-0.08%
ROIC	A	-0.08%
EVTC	C	-0.08%
CASH	A	-0.08%
NATH	B	-0.08%
BELFB	C	-0.08%
THFF	A	-0.08%
MBWM	A	-0.08%
RNGR	A	-0.08%
PLPC	B	-0.07%
UVE	A	-0.07%
CNOB	A	-0.07%
NIC	A	-0.07%
IMMR	F	-0.07%
ITIC	A	-0.07%
BY	A	-0.07%
PKE	B	-0.07%
MBIN	D	-0.07%
SGC	C	-0.07%
ALEX	B	-0.07%
MLAB	F	-0.07%
IVT	B	-0.07%
TRS	D	-0.07%
GWRS	C	-0.07%
CCNE	B	-0.06%
WTI	F	-0.06%
NUS	C	-0.06%
KRNY	A	-0.06%
NFBK	A	-0.06%
OFLX	C	-0.06%
QCRH	A	-0.06%
RLJ	C	-0.06%
HBB	F	-0.06%
GNE	F	-0.06%
RGP	F	-0.06%
ATNI	F	-0.06%
NEWT	B	-0.06%
ARTNA	F	-0.06%
IMKTA	C	-0.06%
VRE	A	-0.06%
HTLD	B	-0.06%
FF	F	-0.06%
UMH	C	-0.06%
IIIN	C	-0.05%
ALCO	D	-0.05%
MGPI	D	-0.05%
ALRS	D	-0.05%
CTO	B	-0.05%
NRC	F	-0.05%
EVC	B	-0.05%
DBI	F	-0.05%
PGC	A	-0.05%
NC	C	-0.05%
ESCA	C	-0.05%
BFC	B	-0.05%
BSRR	B	-0.05%
SLP	F	-0.05%
EPM	A	-0.05%
EML	F	-0.05%
BFS	C	-0.05%
CSR	A	-0.05%
BSIG	A	-0.05%
NRIM	A	-0.05%
FMBH	A	-0.05%
ALTG	C	-0.05%
UTMD	D	-0.05%
JOUT	F	-0.05%
DHIL	A	-0.05%
RGCO	C	-0.05%
FFIC	A	-0.05%
MSBI	A	-0.05%
TIPT	A	-0.04%
CASS	B	-0.04%
NBN	A	-0.04%
RCKY	F	-0.04%
LAKE	B	-0.04%
SMBC	A	-0.04%
HOFT	C	-0.04%
ARC	A	-0.04%
GSBC	A	-0.04%
OPY	B	-0.04%
DGICA	A	-0.04%
SHBI	A	-0.04%
AMTB	B	-0.04%
FMNB	A	-0.04%
RM	D	-0.04%
OSBC	A	-0.04%
ORRF	A	-0.04%
TWIN	D	-0.04%
CLAR	C	-0.04%
BSVN	A	-0.04%
WSR	B	-0.04%
HURC	C	-0.04%
HQI	B	-0.04%
SHEN	F	-0.04%
SVC	F	-0.04%
RELL	B	-0.04%
FSBC	A	-0.04%
CBL	B	-0.04%
EQBK	A	-0.04%
RICK	B	-0.04%
NTST	D	-0.04%
HCI	B	-0.04%
OBK	A	-0.04%
FLIC	A	-0.04%
SMBK	A	-0.04%
CHCT	C	-0.03%
CLDT	C	-0.03%
FSBW	B	-0.03%
PSTL	C	-0.03%
CATO	C	-0.03%
CZNC	B	-0.03%
CSPI	C	-0.03%
SPFI	A	-0.03%
BSET	B	-0.03%
ACU	C	-0.03%
AROW	A	-0.03%
GNTY	A	-0.03%
BHB	A	-0.03%
BRT	A	-0.03%
HONE	A	-0.03%
OLP	A	-0.03%
GMRE	D	-0.03%
UFCS	A	-0.03%
TSQ	C	-0.03%
PHX	A	-0.03%
BMRC	A	-0.03%
AMRK	F	-0.03%
WTBA	A	-0.03%
CIVB	A	-0.03%
FRST	A	-0.03%
PLYM	F	-0.03%
LCUT	F	-0.03%
MBCN	C	-0.02%
UNTY	A	-0.02%
RRBI	A	-0.02%
SSBK	A	-0.02%
CBNK	A	-0.02%
III	C	-0.02%
VOC	C	-0.02%
FBIZ	A	-0.02%
RMR	F	-0.02%
SGA	F	-0.02%
ISTR	A	-0.02%
LAND	F	-0.02%
FRBA	D	-0.02%
PKST	F	-0.02%
NECB	A	-0.02%
DHC	F	-0.02%
FPI	B	-0.02%
FDBC	B	-0.01%
INBK	A	-0.01%
OBT	B	-0.01%
PLBC	A	-0.01%
PINE	D	-0.01%
FNWB	C	-0.0%