ESML vs. FAD ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to First Trust MuFirst Trust Multi CG AlphaDEX (FAD)

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

$41.09

Average Daily Volume

110,457

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Growth Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Growth Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$131.79

Average Daily Volume

5,540

Number of Holdings ^*

641

* may have additional holdings in another (foreign) market

Performance

Period	ESML	FAD
30 Days	1.24%	3.57%
60 Days	-0.18%	9.26%
90 Days	8.35%	7.38%
12 Months	27.41%	35.28%

300 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in FAD	Overlap
AAON	B	0.21%	0.2%	0.2%
ACA	C	0.13%	0.14%	0.13%
ACIW	B	0.15%	0.15%	0.15%
ACVA	C	0.07%	0.08%	0.07%
ADC	B	0.12%	0.1%	0.1%
ADMA	C	0.06%	0.21%	0.06%
AEIS	D	0.16%	0.08%	0.08%
AFRM	C	0.19%	0.12%	0.12%
AGIO	D	0.05%	0.13%	0.05%
AGL	F	0.04%	0.04%	0.04%
AGYS	D	0.05%	0.1%	0.05%
AI	F	0.05%	0.02%	0.02%
AIT	B	0.11%	0.19%	0.11%
ALG	F	0.08%	0.02%	0.02%
ALHC	C	0.06%	0.17%	0.06%
ALKS	B	0.1%	0.1%	0.1%
ALKT	D	0.05%	0.13%	0.05%
ALRM	F	0.04%	0.04%	0.04%
ALSN	A	0.22%	0.25%	0.22%
ALTR	C	0.14%	0.12%	0.12%
AM	A	0.16%	0.17%	0.16%
AMC	F	0.04%	0.04%	0.04%
AMWD	D	0.07%	0.03%	0.03%
ANF	F	0.15%	0.16%	0.15%
APG	F	0.06%	0.15%	0.06%
APPF	C	0.12%	0.16%	0.12%
ARMK	B	0.24%	0.18%	0.18%
AROC	B	0.09%	0.12%	0.09%
ATGE	D	0.05%	0.13%	0.05%
ATI	C	0.18%	0.24%	0.18%
ATR	A	0.23%	0.18%	0.18%
AVAV	B	0.13%	0.23%	0.13%
AWI	A	0.21%	0.19%	0.19%
AWR	A	0.05%	0.03%	0.03%
AXSM	C	0.05%	0.14%	0.05%
AXTA	C	0.26%	0.13%	0.13%
AZEK	C	0.14%	0.09%	0.09%
AZZ	C	0.08%	0.12%	0.08%
BANC	D	0.06%	0.03%	0.03%
BASE	F	0.04%	0.02%	0.02%
BCPC	C	0.14%	0.09%	0.09%
BE	F	0.04%	0.04%	0.04%
BEAM	F	0.05%	0.02%	0.02%
BFAM	B	0.28%	0.21%	0.21%
BKD	F	0.05%	0.12%	0.05%
BLD	D	0.3%	0.09%	0.09%
BLKB	C	0.13%	0.09%	0.09%
BMI	A	0.31%	0.19%	0.19%
BOX	C	0.13%	0.05%	0.05%
BPMC	F	0.08%	0.14%	0.08%
BRBR	A	0.09%	0.13%	0.09%
BRC	C	0.1%	0.11%	0.1%
BROS	F	0.05%	0.08%	0.05%
BRX	C	0.16%	0.05%	0.05%
BWXT	A	0.26%	0.18%	0.18%
CAL	F	0.04%	0.09%	0.04%
CASY	D	0.5%	0.2%	0.2%
CBT	C	0.14%	0.2%	0.14%
CBZ	F	0.05%	0.09%	0.05%
CCOI	B	0.1%	0.05%	0.05%
CFLT	F	0.11%	0.05%	0.05%
CFR	D	0.08%	0.14%	0.08%
CHDN	D	0.13%	0.16%	0.13%
CHE	C	0.15%	0.04%	0.04%
CHH	C	0.05%	0.09%	0.05%
CIVI	F	0.06%	0.03%	0.03%
CLDX	F	0.05%	0.05%	0.05%
CLH	C	0.06%	0.23%	0.06%
CLSK	F	0.04%	0.03%	0.03%
CNK	D	0.08%	0.15%	0.08%
CNM	F	0.25%	0.11%	0.11%
CNMD	D	0.05%	0.03%	0.03%
COKE	C	0.06%	0.25%	0.06%
CPRX	C	0.05%	0.09%	0.05%
CRDO	B	0.1%	0.09%	0.09%
CRNX	C	0.1%	0.05%	0.05%
CRS	C	0.14%	0.17%	0.14%
CRVL	C	0.09%	0.15%	0.09%
CUBE	C	0.23%	0.05%	0.05%
CVLT	C	0.21%	0.21%	0.21%
CVNA	A	0.36%	0.28%	0.28%
CW	A	0.22%	0.25%	0.22%
CWAN	C	0.05%	0.03%	0.03%
CXM	F	0.04%	0.02%	0.02%
DCI	C	0.25%	0.12%	0.12%
DNLI	C	0.11%	0.03%	0.03%
DOCN	C	0.05%	0.03%	0.03%
DOCS	A	0.07%	0.07%	0.07%
DUOL	B	0.16%	0.16%	0.16%
DY	C	0.11%	0.14%	0.11%
EGP	D	0.23%	0.05%	0.05%
ELF	F	0.13%	0.11%	0.11%
ENSG	D	0.21%	0.25%	0.21%
ENV	B	0.07%	0.07%	0.07%
EPAC	C	0.12%	0.1%	0.1%
EPR	C	0.06%	0.05%	0.05%
EPRT	C	0.2%	0.15%	0.15%
ESE	C	0.09%	0.06%	0.06%
ESRT	C	0.07%	0.08%	0.07%
ESTC	F	0.16%	0.11%	0.11%
ETWO	F	0.05%	0.04%	0.04%
EXLS	A	0.2%	0.14%	0.14%
EXP	B	0.06%	0.11%	0.06%
EXPO	A	0.07%	0.1%	0.07%
FA	A	0.12%	0.06%	0.06%
FCN	C	0.23%	0.17%	0.17%
FELE	C	0.23%	0.04%	0.04%
FIX	B	0.36%	0.26%	0.26%
FORM	F	0.05%	0.07%	0.05%
FOUR	B	0.06%	0.14%	0.06%
FRPT	C	0.18%	0.22%	0.18%
FSS	D	0.16%	0.18%	0.16%
FTDR	C	0.2%	0.13%	0.13%
GATX	F	0.16%	0.13%	0.13%
GBX	C	0.05%	0.1%	0.05%
GERN	D	0.06%	0.12%	0.06%
GH	F	0.06%	0.06%	0.06%
GKOS	C	0.17%	0.18%	0.17%
GPK	D	0.29%	0.09%	0.09%
GRBK	C	0.05%	0.1%	0.05%
GVA	B	0.07%	0.15%	0.07%
GWRE	A	0.41%	0.21%	0.21%
HAE	D	0.11%	0.08%	0.08%
HALO	C	0.12%	0.23%	0.12%
HAS	A	0.22%	0.15%	0.15%
HASI	B	0.12%	0.08%	0.08%
HCC	B	0.05%	0.15%	0.05%
HIMS	C	0.06%	0.1%	0.06%
HLX	B	0.05%	0.1%	0.05%
HQY	C	0.14%	0.15%	0.14%
HRB	C	0.21%	0.24%	0.21%
HRI	C	0.18%	0.1%	0.1%
HURN	D	0.06%	0.11%	0.06%
HWKN	C	0.07%	0.16%	0.07%
HXL	F	0.15%	0.04%	0.04%
IBKR	A	0.26%	0.23%	0.23%
IBP	C	0.12%	0.15%	0.12%
ICFI	C	0.09%	0.11%	0.09%
IDCC	A	0.11%	0.11%	0.11%
IESC	A	0.06%	0.16%	0.06%
INFA	D	0.05%	0.07%	0.05%
INGR	B	0.41%	0.14%	0.14%
INSM	D	0.23%	0.22%	0.22%
INTA	C	0.07%	0.03%	0.03%
IONS	F	0.05%	0.11%	0.05%
IOSP	F	0.08%	0.06%	0.06%
ITCI	D	0.14%	0.09%	0.09%
ITGR	C	0.13%	0.23%	0.13%
ITRI	C	0.18%	0.13%	0.13%
ITT	C	0.3%	0.19%	0.19%
JAMF	F	0.05%	0.03%	0.03%
JWN	D	0.06%	0.1%	0.06%
KD	F	0.09%	0.18%	0.09%
KNF	C	0.13%	0.21%	0.13%
KNSL	C	0.2%	0.1%	0.1%
KNTK	A	0.15%	0.08%	0.08%
KRYS	D	0.05%	0.12%	0.05%
KTB	C	0.15%	0.19%	0.15%
KTOS	A	0.07%	0.11%	0.07%
KYMR	D	0.06%	0.12%	0.06%
LNTH	C	0.14%	0.23%	0.14%
LNW	F	0.2%	0.22%	0.2%
LOPE	D	0.05%	0.17%	0.05%
LRN	C	0.11%	0.14%	0.11%
LYFT	D	0.09%	0.07%	0.07%
MAC	C	0.08%	0.09%	0.08%
MARA	F	0.08%	0.07%	0.07%
MEDP	F	0.15%	0.18%	0.15%
MGNI	D	0.05%	0.07%	0.05%
MIR	B	0.06%	0.07%	0.06%
MKSI	F	0.15%	0.14%	0.14%
MLNK	F	0.05%	0.05%	0.05%
MMSI	C	0.15%	0.14%	0.14%
MOD	B	0.18%	0.26%	0.18%
MOG.A	C	0.23%	0.25%	0.23%
MORN	C	0.18%	0.13%	0.13%
MRUS	D	0.06%	0.08%	0.06%
MSA	F	0.19%	0.12%	0.12%
MTRN	F	0.06%	0.02%	0.02%
MTSI	C	0.08%	0.16%	0.08%
MUSA	D	0.34%	0.22%	0.22%
MYGN	D	0.06%	0.1%	0.06%
MYRG	F	0.11%	0.03%	0.03%
NABL	F	0.05%	0.06%	0.05%
NARI	F	0.06%	0.02%	0.02%
NCLH	C	0.2%	0.14%	0.14%
NCNO	D	0.04%	0.04%	0.04%
NEO	F	0.05%	0.03%	0.03%
NOVA	D	0.05%	0.04%	0.04%
NTNX	C	0.33%	0.36%	0.33%
NTRA	B	0.26%	0.23%	0.23%
NYT	C	0.19%	0.18%	0.18%
OHI	C	0.2%	0.15%	0.15%
OLED	C	0.1%	0.12%	0.1%
OLLI	C	0.13%	0.21%	0.13%
ONTO	C	0.3%	0.15%	0.15%
OPCH	F	0.13%	0.05%	0.05%
ORA	C	0.11%	0.09%	0.09%
OSCR	C	0.06%	0.17%	0.06%
OUT	C	0.08%	0.06%	0.06%
OWL	A	0.05%	0.13%	0.05%
PAR	D	0.06%	0.08%	0.06%
PCOR	D	0.15%	0.04%	0.04%
PDFS	F	0.06%	0.04%	0.04%
PDFS	F	0.06%	0.06%	0.06%
PEB	D	0.07%	0.05%	0.05%
PEGA	C	0.09%	0.19%	0.09%
PGNY	F	0.05%	0.02%	0.02%
PI	B	0.09%	0.16%	0.09%
PJT	C	0.09%	0.15%	0.09%
PK	D	0.06%	0.07%	0.06%
PLAY	D	0.05%	0.02%	0.02%
PLMR	B	0.08%	0.11%	0.08%
PLNT	B	0.18%	0.14%	0.14%
POST	D	0.1%	0.23%	0.1%
POWL	B	0.07%	0.18%	0.07%
PR	D	0.17%	0.11%	0.11%
PRCT	C	0.08%	0.16%	0.08%
PRGS	B	0.24%	0.07%	0.07%
PRI	A	0.22%	0.18%	0.18%
PRVA	F	0.07%	0.05%	0.05%
PSN	A	0.11%	0.25%	0.11%
PTCT	C	0.05%	0.11%	0.05%
PTGX	C	0.06%	0.16%	0.06%
QTWO	C	0.1%	0.16%	0.1%
RAMP	F	0.05%	0.04%	0.04%
RDNT	C	0.09%	0.14%	0.09%
RGLD	C	0.32%	0.05%	0.05%
RHP	C	0.2%	0.05%	0.05%
RKLB	B	0.06%	0.07%	0.06%
RKT	D	0.06%	0.03%	0.03%
RL	B	0.09%	0.17%	0.09%
RLI	A	0.19%	0.13%	0.13%
RNG	D	0.05%	0.03%	0.03%
ROCK	D	0.06%	0.02%	0.02%
RUN	D	0.09%	0.04%	0.04%
RVMD	B	0.08%	0.14%	0.08%
RXST	F	0.05%	0.1%	0.05%
RYAN	A	0.13%	0.18%	0.13%
S	D	0.11%	0.09%	0.09%
SAIA	D	0.24%	0.04%	0.04%
SATS	C	0.07%	0.17%	0.07%
SBRA	C	0.08%	0.09%	0.08%
SFBS	D	0.05%	0.22%	0.05%
SFM	A	0.35%	0.27%	0.27%
SHAK	C	0.08%	0.08%	0.08%
SHC	C	0.05%	0.06%	0.05%
SKT	A	0.06%	0.06%	0.06%
SLG	C	0.1%	0.12%	0.1%
SMAR	A	0.14%	0.15%	0.14%
SMPL	D	0.05%	0.08%	0.05%
SMTC	C	0.06%	0.15%	0.06%
SOFI	C	0.13%	0.1%	0.1%
SPR	F	0.06%	0.1%	0.06%
SRPT	F	0.21%	0.16%	0.16%
SSD	B	0.11%	0.05%	0.05%
STRL	C	0.11%	0.15%	0.11%
STWD	C	0.11%	0.14%	0.11%
TBBK	B	0.08%	0.13%	0.08%
TDS	B	0.07%	0.13%	0.07%
TENB	F	0.1%	0.04%	0.04%
TGI	F	0.05%	0.06%	0.05%
TGTX	D	0.05%	0.03%	0.03%
TKO	A	0.18%	0.19%	0.18%
TMDX	D	0.09%	0.13%	0.09%
TNC	F	0.06%	0.07%	0.06%
TNDM	D	0.06%	0.11%	0.06%
TNET	F	0.08%	0.08%	0.08%
TNL	C	0.14%	0.09%	0.09%
TOL	A	0.27%	0.22%	0.22%
TPX	C	0.15%	0.05%	0.05%
TRN	C	0.09%	0.13%	0.09%
TTEK	A	0.19%	0.23%	0.19%
TWST	D	0.06%	0.11%	0.06%
TXRH	C	0.1%	0.21%	0.1%
UEC	B	0.06%	0.02%	0.02%
UFPT	D	0.06%	0.12%	0.06%
VC	F	0.1%	0.02%	0.02%
VECO	F	0.13%	0.06%	0.06%
VERX	A	0.05%	0.1%	0.05%
VNT	F	0.14%	0.07%	0.07%
VRNS	C	0.07%	0.14%	0.07%
VRRM	D	0.07%	0.13%	0.07%
WDFC	D	0.11%	0.05%	0.05%
WEN	D	0.09%	0.04%	0.04%
WEX	C	0.3%	0.05%	0.05%
WFRD	F	0.16%	0.16%	0.16%
WHD	B	0.11%	0.14%	0.11%
WING	C	0.25%	0.21%	0.21%
WMS	D	0.27%	0.08%	0.08%
WNC	F	0.05%	0.02%	0.02%
WRBY	C	0.06%	0.09%	0.06%
WSC	D	0.2%	0.04%	0.04%
WTS	C	0.21%	0.05%	0.05%
WWD	C	0.2%	0.2%	0.2%
XPO	F	0.26%	0.17%	0.17%
YELP	F	0.05%	0.04%	0.04%
YETI	C	0.13%	0.04%	0.04%
ZUO	F	0.05%	0.04%	0.04%
ZWS	A	0.19%	0.1%	0.1%

ESML Overweight 605 Positions Relative to FAD

Symbol	Grade	Weight
USFD	C	0.49%
JHG	B	0.45%
KBR	B	0.4%
REXR	D	0.39%
JLL	C	0.38%
OGS	C	0.33%
EWBC	D	0.33%
FTI	B	0.33%
FRT	D	0.32%
FLEX	C	0.31%
MDU	C	0.3%
RGA	C	0.3%
AVT	C	0.29%
EHC	B	0.29%
AYI	A	0.29%
OSK	F	0.28%
SIGI	D	0.28%
PCVX	C	0.27%
UGI	C	0.27%
R	C	0.27%
COHR	A	0.27%
SCI	D	0.26%
RNR	A	0.26%
TPR	C	0.25%
PNFP	D	0.25%
GBCI	C	0.25%
THC	D	0.25%
SNV	D	0.25%
BJ	C	0.25%
IVZ	B	0.25%
SSB	C	0.25%
MTG	B	0.25%
SWN	D	0.24%
UMBF	C	0.24%
RRC	C	0.24%
HOG	D	0.24%
FND	C	0.24%
MWA	A	0.23%
KBH	C	0.23%
CROX	C	0.23%
DTM	A	0.23%
CNX	A	0.23%
SUM	F	0.23%
LSTR	F	0.22%
CUZ	C	0.22%
WBS	D	0.22%
NJR	C	0.22%
CDP	A	0.22%
CACI	A	0.22%
MTN	D	0.22%
WCC	D	0.21%
ALK	C	0.21%
NFG	A	0.21%
UNM	A	0.21%
NOVT	D	0.21%
CMC	D	0.21%
AR	B	0.21%
WAL	C	0.21%
WHR	C	0.2%
NVT	D	0.2%
FBP	D	0.2%
FTAI	B	0.2%
RHI	D	0.2%
AVA	D	0.2%
BDC	B	0.2%
HHH	C	0.2%
CBSH	D	0.2%
CMA	C	0.19%
CR	B	0.19%
GPI	C	0.19%
GNRC	B	0.19%
FHN	D	0.19%
ACHC	F	0.19%
MTH	C	0.19%
PCH	C	0.19%
BWA	C	0.19%
LAD	C	0.19%
LECO	F	0.19%
AA	B	0.19%
CIEN	A	0.18%
SPSC	F	0.18%
DAR	F	0.18%
VVV	F	0.18%
SITE	D	0.18%
BHLB	D	0.18%
SPXC	C	0.18%
OMF	F	0.18%
TGNA	C	0.18%
FMC	C	0.18%
WK	D	0.18%
ENLC	A	0.18%
CNO	C	0.18%
NSIT	B	0.18%
VFC	B	0.18%
AMG	B	0.18%
GME	D	0.18%
CRUS	D	0.18%
SNDR	C	0.18%
BERY	C	0.18%
REZI	D	0.18%
AXS	A	0.18%
FAF	C	0.17%
ZION	D	0.17%
FN	B	0.17%
CHX	C	0.17%
ELAN	C	0.17%
VOYA	A	0.17%
PCTY	B	0.17%
ONB	D	0.17%
BCC	C	0.17%
DLB	C	0.17%
RGEN	F	0.17%
LPX	C	0.17%
BRKR	D	0.17%
LSCC	D	0.17%
THG	C	0.17%
TMHC	C	0.17%
NOV	F	0.16%
RRX	C	0.16%
SLM	C	0.16%
UBSI	D	0.16%
CZR	B	0.16%
LAZ	C	0.16%
LUMN	C	0.16%
PLXS	B	0.16%
BHE	C	0.16%
PVH	F	0.16%
MTZ	B	0.16%
PEN	D	0.15%
HIW	C	0.15%
SR	C	0.15%
AGCO	D	0.15%
BANR	C	0.15%
GXO	D	0.15%
JAZZ	F	0.15%
SF	A	0.15%
DBX	B	0.15%
PDCO	F	0.15%
ASB	F	0.15%
TPH	C	0.15%
FLS	A	0.15%
HNI	C	0.15%
LFUS	D	0.15%
ASGN	D	0.15%
MUR	F	0.14%
NPO	C	0.14%
JXN	A	0.14%
GTLB	D	0.14%
ESI	C	0.14%
FYBR	C	0.14%
X	F	0.14%
FIBK	D	0.14%
IRDM	B	0.13%
LEA	F	0.13%
ADT	D	0.13%
WH	C	0.13%
IBCP	D	0.13%
SON	D	0.13%
CADE	D	0.13%
THO	C	0.13%
SHOO	C	0.13%
GL	C	0.13%
M	F	0.13%
ORI	B	0.13%
HESM	C	0.13%
AGNC	C	0.13%
CPF	C	0.13%
CYTK	D	0.13%
DFIN	D	0.13%
VKTX	B	0.13%
CPK	C	0.13%
SWX	C	0.13%
VLY	C	0.13%
KLIC	C	0.13%
MAT	D	0.13%
ECPG	F	0.12%
ABG	F	0.12%
SITC	D	0.12%
RMBS	F	0.12%
COLB	C	0.12%
FIVE	D	0.12%
VMI	B	0.12%
WGO	D	0.12%
CABO	F	0.12%
TRNO	D	0.12%
WERN	D	0.12%
MTX	D	0.12%
PFSI	C	0.12%
RDUS	D	0.12%
CAVA	C	0.12%
GAP	F	0.12%
WTM	C	0.12%
BECN	D	0.12%
PINC	F	0.12%
OZK	D	0.12%
ARW	C	0.11%
GTLS	F	0.11%
XENE	D	0.11%
SCL	D	0.11%
PRIM	C	0.11%
U	D	0.11%
MRCY	B	0.11%
CGNX	F	0.11%
EAT	A	0.11%
SIG	D	0.11%
PATH	F	0.11%
KRC	C	0.11%
FUL	F	0.11%
BHVN	B	0.11%
KOS	F	0.11%
OGN	F	0.11%
FULT	D	0.11%
LCII	C	0.11%
ETSY	F	0.11%
AMED	D	0.1%
BWIN	B	0.1%
FR	D	0.1%
CSGS	C	0.1%
GMED	D	0.1%
NMIH	C	0.1%
NXT	F	0.1%
RXO	D	0.1%
AEO	C	0.1%
AUB	D	0.1%
AL	D	0.1%
INSP	C	0.1%
LBRDA	B	0.1%
FLR	C	0.1%
SJW	D	0.1%
ABCB	C	0.1%
EFSC	D	0.1%
TDC	D	0.1%
KAR	F	0.1%
HCP	A	0.1%
SLAB	D	0.1%
EVR	C	0.1%
DXC	B	0.1%
MGRC	D	0.09%
UNIT	B	0.09%
LNN	C	0.09%
BXMT	C	0.09%
AUR	C	0.09%
KFY	C	0.09%
STC	C	0.09%
RDN	D	0.09%
CAC	C	0.09%
LNC	D	0.09%
HR	D	0.09%
APAM	C	0.09%
ATKR	F	0.09%
DV	F	0.09%
LCID	D	0.09%
ZI	D	0.09%
ERII	C	0.09%
ST	F	0.09%
BILL	D	0.09%
CRC	B	0.09%
JEF	A	0.09%
AMAL	D	0.09%
NXST	F	0.09%
CVBF	B	0.09%
XHR	C	0.08%
ROG	F	0.08%
RNA	B	0.08%
PLUS	C	0.08%
NWN	D	0.08%
MAN	D	0.08%
CHWY	C	0.08%
EVRI	A	0.08%
CWEN	C	0.08%
CLVT	D	0.08%
AMN	F	0.08%
BC	D	0.08%
RNST	D	0.08%
SXT	C	0.08%
KOP	F	0.08%
BOOT	C	0.08%
RARE	D	0.08%
SPB	C	0.08%
ENOV	F	0.08%
CRSP	F	0.08%
IMAX	D	0.08%
ICUI	B	0.08%
WU	D	0.08%
ESNT	C	0.08%
LITE	A	0.08%
AN	D	0.08%
W	D	0.08%
MHK	B	0.08%
TEX	F	0.08%
SNX	D	0.08%
HWC	D	0.08%
VNO	B	0.08%
ABM	D	0.08%
NWL	F	0.08%
BPOP	D	0.08%
AZTA	F	0.08%
ENR	B	0.07%
UPBD	F	0.07%
LXP	D	0.07%
VITL	B	0.07%
ANDE	D	0.07%
PNTG	C	0.07%
LEG	D	0.07%
JBGS	C	0.07%
CPRI	B	0.07%
VCTR	A	0.07%
HLIT	D	0.07%
COLM	D	0.07%
VVX	A	0.07%
SEM	D	0.07%
AAT	C	0.07%
PHAT	B	0.07%
PECO	C	0.07%
XPRO	F	0.07%
TREX	D	0.07%
CTS	D	0.07%
SASR	C	0.07%
FL	F	0.07%
HBI	C	0.07%
PLYA	D	0.07%
VAC	D	0.07%
PRGO	F	0.07%
RH	C	0.07%
INDB	D	0.07%
PDM	C	0.07%
BL	C	0.07%
CWK	C	0.07%
BOH	D	0.07%
WD	C	0.07%
VRDN	B	0.07%
NTGR	C	0.07%
MPW	C	0.07%
KREF	C	0.07%
JBT	B	0.07%
ACLX	C	0.07%
AVNT	C	0.07%
DRS	B	0.07%
CCCS	D	0.07%
PIPR	B	0.07%
CLF	F	0.07%
SEE	D	0.07%
DEA	D	0.07%
CALX	D	0.07%
CCS	C	0.07%
XRAY	D	0.07%
ZD	D	0.07%
COLD	D	0.07%
PRKS	D	0.07%
HZO	D	0.06%
IBOC	D	0.06%
TALO	F	0.06%
FROG	F	0.06%
PRG	C	0.06%
DCO	C	0.06%
HI	F	0.06%
LBRDK	B	0.06%
PPBI	D	0.06%
CMCO	C	0.06%
KSS	D	0.06%
TDOC	D	0.06%
BYD	C	0.06%
HELE	D	0.06%
APGE	C	0.06%
THS	D	0.06%
CBU	D	0.06%
AAP	F	0.06%
MOV	F	0.06%
BKU	D	0.06%
MNKD	B	0.06%
CLB	C	0.06%
MEI	F	0.06%
VSEC	D	0.06%
CART	C	0.06%
HL	C	0.06%
AIR	D	0.06%
FUN	F	0.06%
KROS	B	0.06%
WKC	A	0.06%
CWEN	C	0.06%
TILE	D	0.06%
OII	C	0.06%
MHO	C	0.06%
MXL	D	0.06%
AVPT	C	0.06%
ADUS	D	0.06%
KE	F	0.06%
SQSP	A	0.06%
ALTM	D	0.06%
PAHC	C	0.06%
PBF	F	0.06%
NVST	D	0.06%
CC	D	0.06%
POWI	F	0.06%
FFIN	D	0.06%
SG	C	0.06%
ATRC	C	0.06%
TARS	B	0.06%
CDE	C	0.06%
VRNT	F	0.06%
UNFI	B	0.06%
HGV	F	0.06%
RCM	B	0.06%
ROIV	D	0.06%
BDN	A	0.06%
CMP	D	0.06%
WTFC	C	0.06%
COMP	C	0.06%
CLNE	C	0.06%
TROX	D	0.06%
GTES	C	0.06%
EYE	F	0.06%
SONO	D	0.06%
GT	F	0.06%
EWTX	C	0.06%
NEP	D	0.06%
NUVL	B	0.06%
HAIN	B	0.06%
LEVI	C	0.06%
MODG	F	0.06%
IDYA	F	0.06%
FLGT	F	0.05%
MQ	F	0.05%
CUBI	F	0.05%
SVRA	F	0.05%
BBIO	F	0.05%
SLNO	C	0.05%
SNDX	F	0.05%
HPP	F	0.05%
GPRE	F	0.05%
IRON	B	0.05%
PENN	D	0.05%
PLUG	F	0.05%
AHH	F	0.05%
CAR	F	0.05%
KURA	F	0.05%
REVG	D	0.05%
ARVN	F	0.05%
FLO	D	0.05%
MMS	C	0.05%
AXL	F	0.05%
ASTE	F	0.05%
COUR	F	0.05%
LGF.A	F	0.05%
PBI	C	0.05%
SIBN	F	0.05%
CWT	D	0.05%
CGEM	F	0.05%
FFBC	D	0.05%
ARLO	F	0.05%
RBBN	C	0.05%
INVX	F	0.05%
QS	F	0.05%
NBHC	D	0.05%
DLX	F	0.05%
TXG	F	0.05%
RUSHA	D	0.05%
PRO	F	0.05%
DNOW	F	0.05%
AMBC	F	0.05%
KLG	D	0.05%
RXRX	F	0.05%
ZEUS	F	0.05%
KMPR	D	0.05%
CCRN	F	0.05%
OMI	F	0.05%
ASH	F	0.05%
PAYO	A	0.05%
AVDX	F	0.05%
EPC	F	0.05%
ACEL	C	0.05%
XPEL	D	0.05%
VYX	B	0.05%
ARCB	F	0.05%
BGC	B	0.05%
FOXF	F	0.05%
MRC	D	0.05%
FLYW	F	0.05%
SGH	D	0.05%
PRTA	F	0.05%
ARCT	D	0.05%
XRX	D	0.05%
FTRE	F	0.05%
OMCL	C	0.05%
MLTX	C	0.05%
CRI	D	0.05%
JANX	C	0.05%
CSTL	C	0.05%
ICHR	D	0.05%
PETQ	A	0.05%
HOUS	D	0.05%
VSCO	C	0.05%
VRTS	F	0.05%
MTTR	B	0.05%
EDR	A	0.05%
UAA	B	0.05%
PYCR	D	0.05%
PSMT	C	0.05%
HAYW	C	0.05%
GO	F	0.05%
WT	D	0.05%
KELYA	D	0.05%
ATEN	B	0.05%
MNRO	B	0.05%
QDEL	D	0.05%
EMBC	F	0.05%
DYN	D	0.05%
HAFC	D	0.05%
NRIX	D	0.05%
ARWR	F	0.05%
SAVA	D	0.05%
IVR	C	0.05%
VVI	B	0.05%
PGRE	D	0.05%
CRAI	B	0.05%
ELVN	B	0.05%
RYN	C	0.05%
CAKE	B	0.05%
ARQT	C	0.05%
SMP	D	0.05%
SKY	B	0.05%
BNL	C	0.05%
COGT	C	0.05%
THRM	F	0.05%
GEF	D	0.05%
VREX	F	0.05%
AORT	B	0.05%
SLVM	C	0.05%
COOP	B	0.05%
PRAA	F	0.05%
EE	A	0.05%
AGO	B	0.05%
MMI	D	0.05%
PD	F	0.05%
NYCB	D	0.05%
NBTB	D	0.05%
KVYO	B	0.05%
NEOG	F	0.05%
RUSHB	D	0.05%
EWCZ	F	0.05%
SBH	C	0.05%
CALM	A	0.05%
ARKO	C	0.05%
PLOW	D	0.05%
SM	C	0.05%
INFN	A	0.05%
GEF	D	0.05%
MASI	B	0.05%
MBUU	D	0.05%
LIVN	B	0.05%
FIVN	F	0.05%
VERA	C	0.05%
CECO	D	0.05%
VNOM	A	0.05%
VBTX	C	0.05%
ZYME	C	0.05%
VSTS	D	0.05%
NTLA	F	0.05%
JELD	C	0.05%
UPST	C	0.05%
CRMT	F	0.04%
APLS	F	0.04%
BRY	F	0.04%
FNA	F	0.04%
PLRX	F	0.04%
SEDG	F	0.04%
MDGL	F	0.04%
MEG	F	0.04%
CNXC	F	0.04%
ETNB	F	0.04%
RCUS	F	0.04%
BRZE	F	0.04%
PTEN	F	0.04%
NUVB	F	0.04%
IART	F	0.04%
SPT	F	0.04%
SWTX	F	0.04%
ASAN	F	0.04%
EGY	C	0.04%
GOGO	F	0.04%
ASPN	D	0.04%
NVCR	F	0.04%
MTUS	F	0.04%
CLW	F	0.04%
IMVT	F	0.04%
ANAB	D	0.04%
LBPH	C	0.04%
RCKT	F	0.04%
LESL	F	0.04%
FRSH	F	0.04%
DGII	B	0.04%
MLKN	F	0.04%
ALEC	F	0.04%
TMCI	F	0.04%
PFS	D	0.04%
CDNA	B	0.04%
DK	F	0.04%
NVAX	C	0.04%
STAA	D	0.04%
ESTA	F	0.04%
VSAT	F	0.03%
WOLF	F	0.03%
MC	C	0.02%
DEI	A	0.02%
GDOT	D	0.01%

ESML Underweight 341 Positions Relative to FAD

Symbol	Grade	Weight
IRM	A	-0.55%
VST	B	-0.54%
HWM	A	-0.53%
CEG	A	-0.53%
KKR	C	-0.52%
HEI	C	-0.5%
BK	C	-0.5%
TT	A	-0.49%
GE	C	-0.49%
ERIE	B	-0.49%
LII	C	-0.48%
FCNCA	D	-0.48%
PWR	B	-0.48%
WAB	A	-0.47%
GDDY	D	-0.47%
ANET	A	-0.46%
RCL	C	-0.46%
VRT	B	-0.46%
META	A	-0.46%
COST	C	-0.45%
GRMN	D	-0.45%
APO	B	-0.44%
MMM	C	-0.44%
TJX	D	-0.44%
STX	B	-0.43%
HLT	B	-0.43%
BKNG	C	-0.43%
BAH	A	-0.43%
JPM	D	-0.43%
FICO	A	-0.43%
LLY	D	-0.42%
URI	C	-0.41%
NTAP	D	-0.4%
DECK	B	-0.4%
MSI	A	-0.39%
CMG	C	-0.39%
ORCL	C	-0.39%
NVDA	B	-0.39%
BRO	A	-0.38%
ISRG	C	-0.37%
GOOGL	B	-0.37%
TDG	B	-0.37%
CAT	A	-0.37%
ECL	B	-0.36%
IR	B	-0.36%
AMGN	D	-0.36%
AVGO	C	-0.36%
AJG	D	-0.36%
NTRS	C	-0.36%
CSL	A	-0.36%
BSX	A	-0.36%
PLTR	A	-0.36%
RSG	C	-0.35%
NFLX	B	-0.35%
ETN	C	-0.35%
CL	D	-0.35%
CCL	C	-0.34%
PANW	D	-0.34%
UBER	C	-0.34%
ROST	D	-0.34%
VRTX	D	-0.33%
LPLA	C	-0.33%
DAL	C	-0.33%
MAR	B	-0.33%
AMZN	C	-0.33%
PHM	A	-0.32%
CRWD	D	-0.32%
APH	D	-0.32%
PSTG	F	-0.32%
KLAC	B	-0.31%
APP	A	-0.31%
PH	B	-0.3%
NOW	C	-0.29%
PM	D	-0.29%
MCO	D	-0.28%
MANH	C	-0.28%
EXPE	B	-0.28%
TMUS	A	-0.28%
TYL	B	-0.28%
CTAS	C	-0.28%
ARES	A	-0.28%
SMMT	C	-0.27%
FSLR	C	-0.27%
DPZ	D	-0.27%
LYV	B	-0.27%
AMAT	B	-0.27%
DLR	C	-0.26%
ORLY	A	-0.26%
MMC	D	-0.26%
BR	B	-0.26%
WSO	C	-0.26%
MPWR	B	-0.26%
WMB	A	-0.26%
AZO	D	-0.25%
ROL	C	-0.25%
MSFT	D	-0.24%
WM	B	-0.24%
INTU	F	-0.24%
DVA	C	-0.24%
XYL	C	-0.24%
OTIS	A	-0.24%
EME	C	-0.24%
LRCX	D	-0.24%
BCO	C	-0.23%
PINS	D	-0.23%
PCAR	C	-0.23%
RIVN	F	-0.22%
CDNS	D	-0.22%
DDOG	C	-0.22%
TOST	C	-0.22%
AXON	A	-0.22%
SNPS	F	-0.21%
NXPI	F	-0.21%
IBM	A	-0.21%
TPL	A	-0.21%
NVR	C	-0.21%
PODD	C	-0.2%
ZETA	B	-0.2%
PPL	B	-0.2%
MGM	C	-0.2%
H	C	-0.2%
HOOD	C	-0.2%
WELL	C	-0.2%
ALNY	C	-0.19%
MO	D	-0.19%
TW	A	-0.19%
KO	C	-0.19%
AVB	C	-0.19%
ESS	D	-0.19%
IT	B	-0.19%
GWW	B	-0.19%
ADP	A	-0.19%
SO	A	-0.19%
HUBB	B	-0.19%
PG	D	-0.18%
WSM	B	-0.18%
AAPL	C	-0.18%
SYK	C	-0.18%
STE	D	-0.18%
TTD	A	-0.18%
CHD	D	-0.17%
MTD	B	-0.17%
MLM	F	-0.17%
EA	D	-0.17%
INVH	F	-0.17%
CRM	B	-0.17%
DKNG	D	-0.17%
ADBE	F	-0.16%
HON	C	-0.16%
AMD	B	-0.16%
VRSK	C	-0.16%
HLNE	A	-0.16%
ROP	C	-0.16%
ADI	C	-0.16%
SNAP	D	-0.15%
ZS	F	-0.15%
ROAD	C	-0.15%
USLM	C	-0.15%
OKTA	F	-0.14%
SPNT	D	-0.14%
ESAB	C	-0.14%
SMCI	F	-0.14%
IRT	D	-0.14%
LAMR	C	-0.14%
KAI	C	-0.14%
SGBX	F	-0.14%
EXEL	B	-0.14%
CORT	B	-0.13%
AMRX	B	-0.13%
OSW	C	-0.13%
CSWI	C	-0.13%
TDW	F	-0.13%
MIRM	D	-0.13%
ACLS	F	-0.12%
NHI	C	-0.12%
SKYW	C	-0.12%
IOT	C	-0.12%
EEFT	F	-0.12%
GOLF	F	-0.12%
CWST	D	-0.12%
LMAT	C	-0.11%
MBIN	D	-0.11%
LAUR	C	-0.11%
SKWD	A	-0.11%
GNTX	D	-0.11%
WYNN	B	-0.11%
CEIX	B	-0.11%
COLL	B	-0.11%
TRU	A	-0.11%
CPT	C	-0.1%
AON	B	-0.1%
PFGC	A	-0.1%
PMT	C	-0.1%
TPG	B	-0.1%
MAS	A	-0.1%
SHW	B	-0.1%
GFF	C	-0.1%
DASH	C	-0.1%
RMD	C	-0.1%
FFIV	B	-0.1%
RYTM	C	-0.09%
AMH	D	-0.09%
IIPR	C	-0.09%
BCRX	D	-0.09%
ADSK	C	-0.09%
FLNC	C	-0.09%
DSGR	C	-0.09%
LIN	B	-0.09%
SYBT	D	-0.09%
V	C	-0.09%
AKR	C	-0.09%
MSTR	B	-0.09%
SPG	A	-0.09%
MSGS	A	-0.09%
MA	A	-0.09%
PAYX	A	-0.09%
HD	A	-0.09%
CMPR	F	-0.09%
DRI	C	-0.09%
UDR	C	-0.09%
TGLS	A	-0.09%
RPM	B	-0.09%
BOWL	F	-0.09%
ARDX	D	-0.09%
SPGI	B	-0.09%
CPAY	A	-0.09%
SCS	F	-0.09%
NSSC	F	-0.08%
LKFN	F	-0.08%
ROK	C	-0.08%
LVS	B	-0.08%
CPRT	C	-0.08%
CDRE	C	-0.08%
LPG	F	-0.08%
CHCO	D	-0.08%
TTWO	F	-0.08%
CARG	C	-0.08%
PTC	D	-0.08%
STZ	D	-0.08%
UE	C	-0.08%
INSW	B	-0.08%
AESI	B	-0.08%
GIII	D	-0.08%
VMC	D	-0.08%
WMG	C	-0.08%
YOU	C	-0.08%
NSA	C	-0.08%
AME	D	-0.08%
MRVL	B	-0.08%
NET	D	-0.08%
HST	D	-0.08%
AOS	B	-0.08%
PEP	F	-0.08%
TXN	C	-0.08%
CARS	F	-0.08%
BANF	D	-0.08%
ANIP	F	-0.07%
GBDC	B	-0.07%
VGR	B	-0.07%
ENTG	D	-0.07%
DFH	C	-0.07%
THR	F	-0.07%
NBIX	F	-0.07%
BA	F	-0.07%
GPOR	B	-0.07%
AGM	F	-0.07%
WABC	F	-0.07%
HUBS	D	-0.07%
JJSF	C	-0.07%
SLB	D	-0.07%
FIZZ	F	-0.07%
SAM	C	-0.07%
OSIS	C	-0.07%
OTTR	F	-0.07%
SWI	C	-0.07%
ALX	D	-0.07%
JBI	F	-0.06%
IVT	B	-0.06%
SMG	B	-0.06%
SABR	C	-0.06%
CTRE	C	-0.06%
EW	F	-0.06%
HRMY	D	-0.06%
SITM	B	-0.06%
AMR	F	-0.06%
LW	D	-0.06%
EVH	D	-0.06%
AES	C	-0.05%
DOCU	B	-0.05%
RBC	C	-0.05%
RRR	D	-0.05%
NNN	A	-0.05%
CELH	F	-0.05%
DOC	C	-0.05%
REG	C	-0.05%
VCEL	F	-0.05%
SHO	D	-0.05%
TR	D	-0.05%
KRG	C	-0.05%
FOR	D	-0.05%
ALLE	A	-0.05%
LTC	D	-0.05%
LADR	D	-0.05%
DRH	D	-0.05%
GIC	D	-0.05%
HEES	C	-0.05%
ENVX	D	-0.05%
SXI	C	-0.05%
JOE	D	-0.05%
EXTR	C	-0.05%
AIV	D	-0.05%
IRTC	F	-0.05%
CNS	C	-0.05%
VCYT	C	-0.04%
XMTR	D	-0.04%
TRIP	F	-0.04%
FWRG	F	-0.04%
IPAR	F	-0.04%
JKHY	A	-0.04%
NEU	F	-0.04%
TECH	D	-0.04%
PHR	F	-0.03%
KW	B	-0.03%
IAS	F	-0.03%
DRVN	C	-0.03%
FCPT	C	-0.03%
MGEE	B	-0.03%
UMH	C	-0.03%
ALGM	F	-0.03%
CTKB	F	-0.02%
MCW	F	-0.02%
GTX	F	-0.02%
PLAB	D	-0.02%
UPWK	D	-0.02%
EVTC	C	-0.02%
NTST	D	-0.02%
WINA	D	-0.02%
PLYM	D	-0.02%
LMND	F	-0.02%
DBRG	D	-0.02%
RES	B	-0.02%