ESML vs. FESM ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Fidelity Enhanced Small Cap ETF (FESM)

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

$41.64

Average Daily Volume

104,539

Number of Holdings ^*

902

* may have additional holdings in another (foreign) market

FESM

Fidelity Enhanced Small Cap ETF

FESM Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 2000® Index, which is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$31.97

Average Daily Volume

87,016

Number of Holdings ^*

556

* may have additional holdings in another (foreign) market

Performance

Period	ESML	FESM
30 Days	0.75%	0.66%
60 Days	0.94%	-0.06%
90 Days	1.16%	6.19%
12 Months	30.03%

271 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in FESM	Overlap
AAT	C	0.07%	0.4%	0.07%
ABCB	B	0.1%	0.35%	0.1%
ABM	B	0.09%	0.33%	0.09%
ACA	B	0.13%	0.2%	0.13%
ACIW	C	0.15%	0.04%	0.04%
ACLX	B	0.07%	0.03%	0.03%
ADMA	B	0.05%	0.09%	0.05%
ADUS	D	0.06%	0.12%	0.06%
AEO	F	0.09%	0.52%	0.09%
AGIO	B	0.05%	0.14%	0.05%
AIR	F	0.05%	0.49%	0.05%
AIT	A	0.12%	0.44%	0.12%
ALEC	D	0.05%	0.02%	0.02%
ALKS	F	0.1%	0.22%	0.1%
ALRM	F	0.04%	0.09%	0.04%
AMAL	B	0.1%	0.07%	0.07%
ANF	F	0.15%	0.76%	0.15%
AORT	A	0.05%	0.24%	0.05%
ARCT	F	0.04%	0.06%	0.04%
ARLO	F	0.04%	0.17%	0.04%
AROC	D	0.09%	0.36%	0.09%
ARQT	D	0.05%	0.09%	0.05%
ARVN	C	0.05%	0.07%	0.05%
ARWR	F	0.05%	0.05%	0.05%
ATI	F	0.15%	0.37%	0.15%
ATRC	A	0.06%	0.11%	0.06%
AUB	C	0.1%	0.17%	0.1%
AUR	B	0.1%	0.12%	0.1%
AWR	C	0.05%	0.38%	0.05%
AXL	F	0.05%	0.22%	0.05%
AXSM	C	0.05%	0.07%	0.05%
BASE	C	0.04%	0.04%	0.04%
BBIO	D	0.05%	0.08%	0.05%
BCC	D	0.16%	0.17%	0.16%
BCPC	C	0.13%	0.1%	0.1%
BDC	B	0.2%	0.31%	0.2%
BEAM	F	0.04%	0.02%	0.02%
BECN	B	0.13%	0.03%	0.03%
BGC	A	0.05%	0.62%	0.05%
BHE	A	0.16%	0.4%	0.16%
BHLB	B	0.19%	0.03%	0.03%
BKD	D	0.04%	0.08%	0.04%
BL	B	0.08%	0.21%	0.08%
BLKB	D	0.13%	0.08%	0.08%
BMI	D	0.29%	0.4%	0.29%
BOH	A	0.08%	0.15%	0.08%
BPMC	C	0.07%	0.16%	0.07%
BRC	D	0.09%	0.12%	0.09%
CADE	B	0.14%	0.18%	0.14%
CALM	B	0.07%	0.23%	0.07%
CBU	A	0.06%	0.34%	0.06%
CDE	C	0.06%	0.09%	0.06%
CDNA	D	0.03%	0.12%	0.03%
CDP	B	0.23%	0.19%	0.19%
CECO	F	0.04%	0.41%	0.04%
CHX	F	0.16%	0.11%	0.11%
CLDX	F	0.04%	0.07%	0.04%
CMC	A	0.21%	0.05%	0.05%
CNK	A	0.08%	0.14%	0.08%
CNMD	D	0.05%	0.32%	0.05%
CNO	A	0.18%	0.26%	0.18%
COGT	B	0.06%	0.06%	0.06%
COKE	D	0.06%	0.41%	0.06%
COMP	B	0.05%	0.55%	0.05%
COUR	F	0.04%	0.05%	0.04%
CPF	C	0.14%	0.24%	0.14%
CPRX	A	0.05%	0.14%	0.05%
CRAI	B	0.06%	0.23%	0.06%
CRC	B	0.1%	0.22%	0.1%
CRDO	A	0.13%	0.49%	0.13%
CRNX	B	0.11%	0.14%	0.11%
CRS	B	0.15%	0.78%	0.15%
CRVL	D	0.09%	0.04%	0.04%
CSGS	D	0.1%	0.56%	0.1%
CVBF	B	0.1%	0.05%	0.05%
CVLT	B	0.23%	0.67%	0.23%
CVNA	A	0.43%	0.58%	0.43%
CWK	C	0.07%	0.04%	0.04%
CWT	D	0.05%	0.23%	0.05%
CXM	F	0.04%	0.04%	0.04%
CYTK	F	0.13%	0.17%	0.13%
DCO	D	0.05%	0.17%	0.05%
DEA	C	0.07%	0.09%	0.07%
DK	F	0.04%	0.14%	0.04%
DNLI	C	0.1%	0.07%	0.07%
DY	C	0.1%	0.17%	0.1%
DYN	F	0.04%	0.13%	0.04%
EAT	A	0.14%	0.1%	0.1%
EE	A	0.06%	0.05%	0.05%
EGP	D	0.22%	0.13%	0.13%
ENSG	A	0.23%	0.03%	0.03%
EPAC	A	0.12%	0.29%	0.12%
ESRT	C	0.07%	0.39%	0.07%
ETNB	D	0.04%	0.04%	0.04%
ETWO	F	0.03%	0.03%	0.03%
EWTX	B	0.08%	0.17%	0.08%
EXLS	A	0.21%	0.49%	0.21%
FBP	D	0.18%	0.29%	0.18%
FFBC	A	0.05%	0.1%	0.05%
FFIN	D	0.06%	0.34%	0.06%
FIX	B	0.36%	0.45%	0.36%
FLR	B	0.11%	0.6%	0.11%
FLYW	C	0.05%	0.04%	0.04%
FN	B	0.18%	0.78%	0.18%
FORM	F	0.04%	0.26%	0.04%
FSS	F	0.14%	0.18%	0.14%
FTDR	B	0.2%	0.07%	0.07%
FUL	F	0.1%	0.57%	0.1%
FULT	B	0.11%	0.18%	0.11%
GATX	A	0.17%	0.01%	0.01%
GERN	C	0.06%	0.04%	0.04%
GH	D	0.05%	0.26%	0.05%
GKOS	B	0.19%	0.02%	0.02%
GPRE	F	0.04%	0.05%	0.04%
GT	F	0.06%	0.39%	0.06%
HAE	F	0.1%	0.13%	0.1%
HALO	B	0.11%	0.19%	0.11%
HBI	A	0.07%	0.06%	0.06%
HIMS	B	0.08%	0.03%	0.03%
HL	C	0.06%	0.22%	0.06%
HLIT	F	0.05%	0.12%	0.05%
HLX	F	0.04%	0.23%	0.04%
HNI	D	0.14%	0.2%	0.14%
HQY	B	0.15%	0.23%	0.15%
HURN	A	0.05%	0.19%	0.05%
HWC	A	0.08%	0.21%	0.08%
HWKN	D	0.07%	0.55%	0.07%
IART	C	0.05%	0.08%	0.05%
IBP	F	0.1%	0.71%	0.1%
ICFI	B	0.09%	0.04%	0.04%
IDYA	F	0.06%	0.04%	0.04%
IMVT	F	0.05%	0.01%	0.01%
INDB	B	0.07%	0.09%	0.07%
INSM	D	0.22%	0.47%	0.22%
INTA	B	0.07%	0.16%	0.07%
ITRI	A	0.18%	0.44%	0.18%
JAMF	D	0.04%	0.08%	0.04%
JXN	B	0.15%	0.64%	0.15%
KAR	F	0.1%	0.34%	0.1%
KBH	D	0.21%	0.22%	0.21%
KE	C	0.06%	0.06%	0.06%
KNF	A	0.14%	0.14%	0.14%
KREF	D	0.07%	0.14%	0.07%
KRYS	C	0.05%	0.11%	0.05%
KTB	A	0.14%	0.07%	0.07%
KTOS	C	0.08%	0.31%	0.08%
KURA	F	0.04%	0.11%	0.04%
KYMR	C	0.06%	0.03%	0.03%
LGF.A	C	0.05%	0.07%	0.05%
LGF.A	C	0.05%	0.05%	0.05%
LIVN	C	0.06%	0.07%	0.06%
LNTH	C	0.15%	0.15%	0.15%
LNW	D	0.2%	0.28%	0.2%
LUMN	A	0.15%	0.75%	0.15%
MAC	B	0.08%	0.23%	0.08%
MDGL	A	0.04%	0.1%	0.04%
MEDP	F	0.15%	0.07%	0.07%
MHO	D	0.05%	0.67%	0.05%
MLNK	B	0.05%	0.04%	0.04%
MMSI	B	0.15%	0.41%	0.15%
MOG.A	C	0.22%	0.24%	0.22%
MQ	A	0.05%	0.03%	0.03%
MRC	F	0.05%	0.08%	0.05%
MTH	D	0.17%	0.34%	0.17%
MTRN	D	0.05%	0.08%	0.05%
MTX	C	0.12%	0.6%	0.12%
MUR	F	0.13%	0.21%	0.13%
MWA	B	0.23%	0.64%	0.23%
MXL	D	0.06%	0.51%	0.06%
MYGN	F	0.05%	0.1%	0.05%
NABL	F	0.05%	0.08%	0.05%
NARI	A	0.07%	0.03%	0.03%
NBTB	D	0.05%	0.07%	0.05%
NJR	D	0.22%	0.32%	0.22%
NMIH	D	0.09%	0.38%	0.09%
NOVA	F	0.03%	0.01%	0.01%
NRIX	B	0.06%	0.14%	0.06%
NTLA	F	0.04%	0.02%	0.02%
NUVB	F	0.04%	0.06%	0.04%
NUVL	D	0.06%	0.05%	0.05%
NVAX	F	0.04%	0.09%	0.04%
OII	D	0.06%	0.01%	0.01%
ONTO	F	0.28%	0.07%	0.07%
OPCH	F	0.13%	0.2%	0.13%
OSCR	C	0.04%	0.14%	0.04%
OUT	C	0.08%	0.6%	0.08%
PAHC	B	0.06%	0.05%	0.05%
PAYO	B	0.05%	0.69%	0.05%
PBI	A	0.05%	0.2%	0.05%
PCVX	C	0.25%	0.45%	0.25%
PD	C	0.05%	0.18%	0.05%
PDCO	F	0.15%	0.03%	0.03%
PDFS	F	0.05%	0.24%	0.05%
PECO	B	0.07%	0.36%	0.07%
PFS	B	0.05%	0.3%	0.05%
PJT	B	0.09%	0.17%	0.09%
PLXS	A	0.17%	0.15%	0.15%
POWL	A	0.09%	0.02%	0.02%
PRAA	D	0.04%	0.02%	0.02%
PRG	C	0.05%	0.53%	0.05%
PRGS	B	0.24%	0.27%	0.24%
PRO	C	0.05%	0.16%	0.05%
PSMT	C	0.05%	0.04%	0.04%
PSN	A	0.11%	0.25%	0.11%
PTCT	B	0.06%	0.18%	0.06%
PTGX	B	0.06%	0.09%	0.06%
QTWO	A	0.11%	0.77%	0.11%
RAMP	D	0.05%	0.12%	0.05%
RCKT	F	0.04%	0.07%	0.04%
REZI	C	0.19%	0.42%	0.19%
RMBS	C	0.14%	0.16%	0.14%
RNA	C	0.08%	0.23%	0.08%
RNST	B	0.08%	0.21%	0.08%
ROCK	D	0.05%	0.2%	0.05%
RUSHA	A	0.05%	0.08%	0.05%
RVMD	A	0.09%	0.21%	0.09%
RXO	B	0.1%	0.06%	0.06%
RXRX	F	0.04%	0.09%	0.04%
SBH	B	0.05%	0.2%	0.05%
SF	A	0.17%	0.32%	0.17%
SFBS	A	0.05%	0.17%	0.05%
SFM	A	0.38%	0.92%	0.38%
SHAK	A	0.08%	0.21%	0.08%
SIGI	C	0.27%	0.47%	0.27%
SJW	F	0.1%	0.36%	0.1%
SKT	B	0.06%	0.11%	0.06%
SLG	B	0.11%	0.15%	0.11%
SLVM	B	0.05%	0.27%	0.05%
SMTC	B	0.06%	0.19%	0.06%
SNDX	F	0.05%	0.07%	0.05%
SPSC	F	0.16%	0.69%	0.16%
SPT	F	0.04%	0.09%	0.04%
SVRA	D	0.04%	0.02%	0.02%
SWTX	D	0.04%	0.02%	0.02%
SWX	C	0.13%	0.25%	0.13%
SXT	C	0.08%	0.35%	0.08%
TDS	B	0.08%	0.17%	0.08%
TENB	D	0.1%	0.23%	0.1%
TEX	F	0.09%	0.38%	0.09%
TGTX	A	0.05%	0.09%	0.05%
TILE	A	0.06%	0.18%	0.06%
TMCI	F	0.04%	0.03%	0.03%
TMHC	A	0.18%	0.51%	0.18%
TNC	F	0.06%	0.27%	0.06%
TNDM	F	0.05%	0.04%	0.04%
TNET	F	0.07%	0.02%	0.02%
TPH	D	0.14%	0.37%	0.14%
TRN	C	0.1%	0.27%	0.1%
TRNO	F	0.11%	0.32%	0.11%
TWST	F	0.05%	0.14%	0.05%
TXRH	A	0.11%	0.05%	0.05%
UBSI	A	0.16%	0.19%	0.16%
UCB	D	0.04%	0.14%	0.04%
UEC	B	0.08%	0.06%	0.06%
UMBF	A	0.24%	0.49%	0.24%
UNIT	C	0.09%	0.12%	0.09%
UPBD	D	0.05%	0.45%	0.05%
VERA	A	0.05%	0.02%	0.02%
VREX	C	0.06%	0.24%	0.06%
VRTS	B	0.05%	0.16%	0.05%
VSCO	A	0.06%	0.03%	0.03%
WDFC	A	0.11%	0.09%	0.09%
WFRD	F	0.15%	0.01%	0.01%
WK	C	0.18%	0.27%	0.18%
WKC	D	0.05%	0.17%	0.05%
WT	B	0.05%	0.5%	0.05%
WTS	D	0.2%	0.41%	0.2%
XRX	F	0.04%	0.15%	0.04%
YELP	F	0.05%	0.56%	0.05%
ZEUS	F	0.05%	0.12%	0.05%
ZUO	A	0.05%	0.19%	0.05%

ESML Overweight 632 Positions Relative to FESM

Symbol	Grade	Weight
CASY	A	0.53%
USFD	B	0.48%
JHG	A	0.48%
GWRE	B	0.44%
KBR	B	0.41%
INGR	C	0.39%
EWBC	A	0.39%
JLL	B	0.37%
NTNX	B	0.35%
FTI	B	0.34%
REXR	F	0.34%
AYI	A	0.33%
RGLD	B	0.33%
FLEX	A	0.32%
FRT	D	0.32%
OGS	C	0.32%
MUSA	C	0.32%
MDU	F	0.31%
OSK	C	0.3%
EHC	A	0.3%
BWXT	B	0.3%
AVT	B	0.29%
RGA	C	0.29%
GBCI	A	0.29%
COHR	B	0.29%
IBKR	A	0.29%
GPK	D	0.28%
XPO	A	0.28%
SNV	B	0.28%
ITT	C	0.28%
PNFP	A	0.27%
CNX	B	0.27%
TOL	C	0.27%
R	A	0.27%
SUM	A	0.27%
SAIA	A	0.26%
BJ	A	0.26%
SSB	B	0.26%
RNR	C	0.26%
BFAM	C	0.26%
DTM	A	0.26%
UGI	D	0.26%
BLD	F	0.26%
NTRA	B	0.26%
AXTA	A	0.25%
ATR	A	0.25%
HRI	A	0.25%
WEX	F	0.25%
CACI	A	0.25%
MTG	D	0.25%
SCI	A	0.25%
DCI	B	0.25%
IVZ	A	0.25%
TPR	A	0.25%
WMS	F	0.25%
AAON	A	0.24%
CW	B	0.24%
ARMK	B	0.24%
CNM	D	0.24%
WBS	B	0.24%
RRC	D	0.24%
THC	C	0.24%
FTAI	A	0.23%
PRI	B	0.23%
NCLH	A	0.23%
ALSN	A	0.23%
ALK	A	0.22%
WING	F	0.22%
SRPT	D	0.22%
UNM	A	0.22%
AWI	A	0.22%
CUZ	B	0.22%
HOG	F	0.21%
RHI	C	0.21%
LAD	A	0.21%
FHN	B	0.21%
WAL	C	0.21%
OHI	B	0.21%
CUBE	D	0.21%
CBSH	A	0.21%
NOVT	C	0.21%
WCC	A	0.21%
AR	F	0.21%
NFG	C	0.21%
LSTR	D	0.21%
LECO	B	0.2%
RHP	B	0.2%
AVA	D	0.2%
ZWS	A	0.2%
HHH	C	0.2%
MTN	F	0.2%
AA	B	0.2%
HRB	D	0.2%
FCN	F	0.2%
WSC	F	0.2%
FND	D	0.2%
TTEK	B	0.2%
GNRC	A	0.2%
AMG	A	0.2%
HAS	D	0.2%
NVT	D	0.2%
VFC	A	0.2%
FELE	D	0.2%
GME	B	0.19%
AXS	C	0.19%
WHR	B	0.19%
ENLC	A	0.19%
EPRT	C	0.19%
KNSL	F	0.19%
RLI	B	0.19%
DAR	B	0.19%
NYT	A	0.19%
AFRM	A	0.19%
WWD	D	0.19%
TGNA	B	0.19%
CMA	A	0.19%
FRPT	D	0.18%
NSIT	F	0.18%
SPXC	D	0.18%
PCTY	A	0.18%
CIEN	B	0.18%
CRUS	F	0.18%
OMF	A	0.18%
BWA	D	0.18%
MORN	B	0.18%
BERY	A	0.18%
CR	B	0.18%
SNDR	A	0.18%
ZION	B	0.18%
SOFI	A	0.17%
VOYA	B	0.17%
SITE	F	0.17%
PCH	F	0.17%
CROX	F	0.17%
THG	B	0.17%
AEIS	A	0.17%
ONB	A	0.17%
GXO	B	0.17%
DUOL	A	0.17%
VVV	D	0.17%
GPI	C	0.17%
PR	F	0.17%
CZR	D	0.17%
PLNT	D	0.17%
MSA	F	0.17%
LSCC	C	0.17%
MOD	C	0.17%
CHE	F	0.16%
LPX	D	0.16%
FLS	A	0.16%
VKTX	A	0.16%
ALTR	B	0.16%
RRX	A	0.16%
PCOR	B	0.16%
BRX	C	0.16%
PEN	A	0.16%
LAZ	A	0.16%
ESTC	D	0.16%
KNTK	B	0.16%
FAF	D	0.16%
BANR	A	0.16%
MTZ	A	0.16%
PVH	C	0.16%
FMC	B	0.16%
ASB	A	0.16%
DLB	B	0.16%
TKO	D	0.16%
CHDN	B	0.15%
SMAR	A	0.15%
HXL	F	0.15%
FIBK	B	0.15%
LFUS	D	0.15%
TNL	A	0.15%
NOV	F	0.15%
HIW	C	0.15%
AGCO	C	0.15%
ELAN	D	0.15%
JAZZ	D	0.15%
DBX	A	0.15%
AM	C	0.15%
X	C	0.15%
ASGN	F	0.15%
RGEN	D	0.15%
SLM	C	0.15%
VNT	B	0.14%
MKSI	F	0.14%
FYBR	A	0.14%
ESI	A	0.14%
SR	D	0.14%
MAT	A	0.14%
ITCI	A	0.14%
BRKR	D	0.14%
WH	A	0.14%
KLIC	B	0.14%
AVAV	B	0.14%
RYAN	C	0.14%
VLY	A	0.14%
GTLB	A	0.14%
NPO	F	0.13%
ADT	B	0.13%
DFIN	F	0.13%
MYRG	B	0.13%
ORI	D	0.13%
ELF	F	0.13%
THO	D	0.13%
COLB	A	0.13%
BOX	D	0.13%
AZEK	C	0.13%
IBCP	D	0.13%
ACHC	F	0.13%
VMI	A	0.13%
HESM	D	0.13%
WTM	B	0.13%
OZK	B	0.13%
CPK	C	0.13%
M	D	0.13%
ITGR	D	0.13%
CAVA	B	0.13%
TPX	F	0.13%
CBT	B	0.13%
VECO	F	0.12%
CABO	C	0.12%
STRL	B	0.12%
PRIM	A	0.12%
KRC	B	0.12%
WGO	D	0.12%
OLLI	C	0.12%
SHOO	D	0.12%
AGNC	D	0.12%
WERN	A	0.12%
SON	F	0.12%
CFLT	A	0.12%
S	B	0.12%
IRDM	B	0.12%
IDCC	A	0.12%
LRN	A	0.12%
GAP	D	0.12%
HASI	B	0.12%
GL	C	0.12%
PINC	A	0.12%
ARW	D	0.11%
LBRDA	A	0.11%
RDUS	F	0.11%
STWD	D	0.11%
EVR	A	0.11%
DXC	D	0.11%
APPF	D	0.11%
PFSI	D	0.11%
CGNX	B	0.11%
WHD	B	0.11%
TDC	B	0.11%
BHVN	B	0.11%
PATH	C	0.11%
LCII	D	0.11%
ECPG	D	0.11%
FIVE	C	0.11%
ABG	C	0.11%
YETI	F	0.11%
CCOI	B	0.11%
ALTM	B	0.11%
LEA	F	0.11%
ORA	B	0.11%
KOS	F	0.11%
ADC	C	0.11%
XENE	C	0.11%
BWIN	C	0.1%
MRCY	D	0.1%
INSP	D	0.1%
BILL	A	0.1%
JEF	B	0.1%
APAM	A	0.1%
ETSY	D	0.1%
PRCT	A	0.1%
SCL	F	0.1%
AL	B	0.1%
U	C	0.1%
WEN	A	0.1%
NXST	A	0.1%
NWL	A	0.1%
PEGA	A	0.1%
OLED	F	0.1%
HCP	A	0.1%
SIG	C	0.1%
GMED	A	0.1%
SSD	F	0.1%
VC	F	0.1%
GTLS	B	0.1%
OGN	D	0.1%
FA	D	0.1%
SLAB	F	0.1%
EFSC	B	0.1%
SNX	C	0.09%
JBT	A	0.09%
NXT	C	0.09%
ESE	A	0.09%
MARA	D	0.09%
MTSI	B	0.09%
ST	F	0.09%
DRS	A	0.09%
RDN	F	0.09%
LYFT	C	0.09%
MGRC	A	0.09%
HR	D	0.09%
RDNT	D	0.09%
CURB	D	0.09%
DV	F	0.09%
ATKR	F	0.09%
RL	B	0.09%
VNO	B	0.09%
LNC	A	0.09%
KD	D	0.09%
POST	D	0.09%
CFR	B	0.09%
ERII	A	0.09%
CAC	A	0.09%
BRBR	A	0.09%
FR	D	0.09%
AMED	C	0.09%
ZI	C	0.09%
VVX	B	0.08%
BPOP	F	0.08%
UNFI	A	0.08%
PLUS	C	0.08%
NWN	C	0.08%
PLYA	B	0.08%
GVA	A	0.08%
RARE	D	0.08%
SPB	C	0.08%
BC	C	0.08%
EVRI	A	0.08%
CLF	C	0.08%
ESNT	F	0.08%
PLMR	D	0.08%
PRKS	B	0.08%
TARS	A	0.08%
BXMT	C	0.08%
ICUI	C	0.08%
MIR	A	0.08%
RKLB	A	0.08%
LNN	C	0.08%
STC	D	0.08%
LITE	A	0.08%
LBPH	A	0.08%
SBRA	B	0.08%
IMAX	A	0.08%
KFY	C	0.08%
PI	C	0.08%
CRSP	C	0.08%
BANC	B	0.07%
CMP	C	0.07%
CCS	F	0.07%
VRRM	F	0.07%
XRAY	F	0.07%
JBGS	C	0.07%
MAN	F	0.07%
CWEN	C	0.07%
SG	A	0.07%
ALHC	A	0.07%
WTFC	B	0.07%
SATS	B	0.07%
UPST	B	0.07%
RUN	C	0.07%
COLD	F	0.07%
VITL	C	0.07%
SONO	C	0.07%
MRUS	C	0.07%
HAIN	A	0.07%
PRVA	B	0.07%
AVNT	D	0.07%
CHWY	D	0.07%
ENR	B	0.07%
WD	C	0.07%
MHK	D	0.07%
VRDN	B	0.07%
CTS	A	0.07%
PDM	C	0.07%
PRGO	D	0.07%
SEE	A	0.07%
DOCS	A	0.07%
TREX	B	0.07%
CCCS	D	0.07%
AZTA	F	0.07%
CALX	D	0.07%
BDN	C	0.07%
WU	F	0.07%
XHR	C	0.07%
AN	F	0.07%
ROG	D	0.07%
VAC	B	0.07%
IOSP	F	0.07%
VCTR	A	0.07%
NTGR	A	0.07%
KOP	F	0.07%
TBBK	D	0.07%
AZZ	D	0.07%
CLVT	D	0.07%
ZD	F	0.07%
AMN	F	0.07%
SASR	A	0.07%
AMWD	D	0.07%
VRNS	D	0.07%
ALG	C	0.07%
VSEC	A	0.07%
PIPR	B	0.07%
ENOV	C	0.07%
TMDX	F	0.06%
EWCZ	C	0.06%
BROS	B	0.06%
EXP	B	0.06%
APGE	A	0.06%
RKT	D	0.06%
ACVA	F	0.06%
RXST	D	0.06%
MPW	D	0.06%
BKU	C	0.06%
AGO	B	0.06%
WOLF	D	0.06%
VVI	B	0.06%
HI	F	0.06%
VBTX	B	0.06%
VERX	B	0.06%
IBOC	B	0.06%
SPR	C	0.06%
FIVN	C	0.06%
MOV	F	0.06%
JANX	A	0.06%
EYE	D	0.06%
CHH	A	0.06%
EXPO	D	0.06%
MASI	A	0.06%
FROG	C	0.06%
NVST	A	0.06%
PLAY	C	0.06%
EPR	D	0.06%
PPBI	B	0.06%
SM	F	0.06%
APG	B	0.06%
TDOC	C	0.06%
FL	D	0.06%
FUN	C	0.06%
KVYO	A	0.06%
MBUU	A	0.06%
MODG	F	0.06%
LXP	D	0.06%
ANDE	F	0.06%
CSTL	A	0.06%
ALKT	B	0.06%
WRBY	A	0.06%
FOUR	B	0.06%
PK	F	0.06%
BOOT	D	0.06%
LEG	F	0.06%
KROS	A	0.06%
JWN	C	0.06%
ZYME	B	0.06%
ELVN	B	0.06%
CLNE	D	0.06%
HELE	C	0.06%
AVPT	A	0.06%
CLB	A	0.06%
MNKD	A	0.06%
LBRDK	A	0.06%
LCID	F	0.06%
ROIV	D	0.06%
PEB	F	0.06%
RCM	A	0.06%
POWI	C	0.06%
HGV	C	0.06%
CLH	C	0.06%
BYD	A	0.06%
COLM	C	0.06%
PNTG	D	0.06%
GBX	A	0.06%
OWL	B	0.06%
HAFC	A	0.06%
GTES	A	0.06%
RH	B	0.06%
VNOM	A	0.06%
CART	A	0.06%
IESC	A	0.06%
SEM	B	0.06%
ENV	A	0.06%
PHAT	B	0.06%
W	F	0.06%
PAR	A	0.06%
PRTA	F	0.05%
MGNI	D	0.05%
FLO	F	0.05%
CUBI	D	0.05%
IVR	F	0.05%
CGEM	F	0.05%
NEOG	D	0.05%
THRM	D	0.05%
INVX	F	0.05%
NEO	D	0.05%
NVCR	F	0.05%
LOPE	D	0.05%
MMS	D	0.05%
MLTX	F	0.05%
OMCL	B	0.05%
FRSH	C	0.05%
XPEL	F	0.05%
AHH	D	0.05%
WNC	F	0.05%
ASTE	C	0.05%
ARCB	F	0.05%
CAR	C	0.05%
EPC	D	0.05%
KLG	F	0.05%
DLX	F	0.05%
REVG	D	0.05%
KELYA	D	0.05%
FLG	D	0.05%
PLUG	C	0.05%
MNRO	A	0.05%
HZO	F	0.05%
AGYS	D	0.05%
ESTA	B	0.05%
ASH	F	0.05%
AMBC	D	0.05%
GO	F	0.05%
ACEL	D	0.05%
JELD	F	0.05%
VYX	F	0.05%
KMPR	B	0.05%
GRBK	D	0.05%
RYN	C	0.05%
UAA	B	0.05%
SMPL	C	0.05%
CWEN	C	0.05%
AVDX	C	0.05%
VSTS	F	0.05%
DGII	B	0.05%
AAP	F	0.05%
PENN	B	0.05%
BNL	D	0.05%
MMI	D	0.05%
THS	F	0.05%
SKY	C	0.05%
ATGE	A	0.05%
HCC	A	0.05%
PLRX	A	0.05%
MTTR	C	0.05%
CMCO	F	0.05%
CLSK	C	0.05%
GEF	B	0.05%
TROX	F	0.05%
AI	C	0.05%
PGRE	C	0.05%
LEVI	F	0.05%
EMBC	C	0.05%
IONS	F	0.05%
CC	F	0.05%
UFPT	D	0.05%
KSS	F	0.05%
RNG	A	0.05%
VRNT	F	0.05%
GEF	B	0.05%
CWAN	B	0.05%
SHC	C	0.05%
CBZ	B	0.05%
ARKO	C	0.05%
RUSHB	A	0.05%
EDR	A	0.05%
SLNO	A	0.05%
INFA	C	0.05%
TGI	C	0.05%
ATEN	A	0.05%
DOCN	B	0.05%
PYCR	B	0.05%
HAYW	A	0.05%
RBBN	A	0.05%
COOP	D	0.05%
NBHC	A	0.05%
NCNO	B	0.05%
XPRO	F	0.05%
CAKE	A	0.05%
INFN	B	0.05%
CIVI	F	0.05%
TALO	D	0.05%
PBF	F	0.05%
HOUS	F	0.04%
CAL	F	0.04%
MEG	F	0.04%
OMI	F	0.04%
BRY	F	0.04%
CLW	F	0.04%
STAA	F	0.04%
BRZE	F	0.04%
EGY	F	0.04%
HPP	F	0.04%
CCRN	F	0.04%
ANAB	F	0.04%
MLKN	F	0.04%
CRI	F	0.04%
BE	D	0.04%
MTUS	F	0.04%
SAVA	D	0.04%
PTEN	F	0.04%
AMC	D	0.04%
ASAN	D	0.04%
LESL	F	0.04%
FOXF	F	0.04%
FTRE	F	0.04%
FLGT	C	0.04%
MEI	F	0.04%
IRON	D	0.04%
GOGO	F	0.04%
QDEL	F	0.04%
ICHR	F	0.04%
NEP	F	0.04%
SIBN	D	0.04%
RCUS	F	0.04%
QS	F	0.04%
SMP	B	0.04%
PGNY	F	0.04%
DNOW	F	0.04%
PLOW	F	0.04%
AGL	F	0.03%
VSAT	F	0.03%
ASPN	F	0.03%
SEDG	F	0.03%
FNA	F	0.03%
CRMT	F	0.03%
SITC	F	0.03%
APLS	F	0.03%
TXG	F	0.03%
CPRI	F	0.03%
CNXC	F	0.03%
MC	D	0.02%
DEI	B	0.02%
GDOT	C	0.01%

ESML Underweight 285 Positions Relative to FESM

Symbol	Grade	Weight
PRMW	B	-0.74%
SKYW	A	-0.65%
ENS	F	-0.63%
NWBI	C	-0.57%
CRGY	B	-0.57%
EME	A	-0.55%
IGT	F	-0.54%
MTDR	D	-0.52%
FHI	A	-0.5%
QLYS	F	-0.48%
LKFN	B	-0.47%
YOU	A	-0.46%
CODI	D	-0.44%
CMPR	F	-0.43%
EQC	C	-0.42%
BANF	B	-0.41%
VMEO	C	-0.4%
LANC	B	-0.38%
APOG	A	-0.37%
SANM	A	-0.36%
BAND	A	-0.36%
GNW	D	-0.34%
WOOF	B	-0.33%
LMND	A	-0.33%
UCTT	F	-0.32%
COMM	A	-0.32%
BBSI	D	-0.31%
GFF	F	-0.31%
VICR	B	-0.31%
BCO	D	-0.29%
MATX	A	-0.29%
HCI	B	-0.28%
YEXT	A	-0.27%
HP	C	-0.26%
EZPW	B	-0.25%
HY	D	-0.25%
NBR	C	-0.25%
AX	B	-0.25%
PLPC	A	-0.24%
PHR	F	-0.24%
SNEX	A	-0.24%
BVS	A	-0.23%
AVNS	F	-0.23%
CEIX	A	-0.23%
AXGN	B	-0.23%
BUSE	D	-0.23%
CTRE	A	-0.22%
VRE	D	-0.22%
STEP	B	-0.22%
EGHT	C	-0.22%
OI	F	-0.22%
PBH	A	-0.21%
MRTN	F	-0.21%
OTTR	F	-0.21%
SXC	A	-0.21%
CORT	B	-0.21%
CNXN	F	-0.2%
OFG	C	-0.2%
LMB	B	-0.2%
WABC	B	-0.2%
STNG	F	-0.19%
HSTM	A	-0.19%
FOLD	B	-0.18%
PLAB	F	-0.18%
GEO	B	-0.18%
TVTX	B	-0.17%
ALE	A	-0.17%
AMSF	A	-0.16%
ETD	F	-0.16%
SRRK	B	-0.16%
TRTX	A	-0.16%
GHC	A	-0.16%
CSWI	B	-0.16%
PRK	A	-0.16%
SAH	C	-0.15%
EXPI	B	-0.15%
FLXS	A	-0.15%
WS	A	-0.14%
WSR	B	-0.14%
DOMO	C	-0.14%
VCYT	A	-0.14%
NFBK	C	-0.14%
SRCE	C	-0.13%
TRUP	A	-0.13%
CPS	B	-0.13%
RYTM	D	-0.13%
FRME	C	-0.13%
HCAT	C	-0.12%
GMRE	D	-0.12%
BCRX	A	-0.12%
ATNI	F	-0.12%
ODP	C	-0.12%
AMRX	B	-0.12%
DXPE	C	-0.12%
RDFN	C	-0.12%
EXTR	B	-0.12%
LADR	B	-0.11%
REPX	F	-0.11%
AMPH	A	-0.11%
TRUE	A	-0.1%
LYTS	A	-0.1%
AGS	A	-0.1%
VTOL	D	-0.1%
NGVC	B	-0.09%
AMSC	A	-0.09%
PCRX	C	-0.09%
COLL	F	-0.09%
EOLS	A	-0.09%
LGND	A	-0.09%
ACAD	F	-0.09%
VCEL	D	-0.08%
CATY	A	-0.08%
ARAY	F	-0.08%
OPEN	F	-0.08%
WSBF	B	-0.08%
MYE	F	-0.08%
GIC	F	-0.08%
REPL	B	-0.08%
FLNC	B	-0.08%
TCMD	A	-0.08%
URBN	F	-0.08%
RVNC	C	-0.08%
BGS	C	-0.08%
ANIP	F	-0.08%
EBS	B	-0.08%
CSTM	F	-0.08%
WVE	B	-0.08%
SSTK	D	-0.08%
SCS	F	-0.08%
CTBI	B	-0.07%
ASC	F	-0.07%
WEAV	B	-0.07%
PL	B	-0.07%
FISI	D	-0.07%
ANNX	B	-0.07%
IRWD	F	-0.07%
CCCC	F	-0.07%
SAGE	F	-0.07%
FDP	A	-0.07%
CDMO	C	-0.07%
WMK	D	-0.07%
THR	F	-0.07%
PACB	C	-0.07%
AKBA	A	-0.07%
ADPT	A	-0.07%
HRTG	D	-0.07%
BSRR	D	-0.07%
MCRI	A	-0.06%
HRTX	F	-0.06%
ATRO	F	-0.06%
QTRX	C	-0.06%
LPSN	B	-0.06%
PRLB	B	-0.06%
AMBA	B	-0.06%
CERS	F	-0.06%
ORIC	D	-0.06%
HURC	A	-0.06%
AVD	F	-0.06%
ABSI	D	-0.06%
RM	D	-0.06%
PGC	A	-0.06%
TSVT	D	-0.05%
ALX	D	-0.05%
SANA	F	-0.05%
BY	B	-0.05%
SGMO	A	-0.05%
VNDA	D	-0.05%
STRO	D	-0.05%
CDXS	A	-0.05%
NPAB	D	-0.05%
DIOD	F	-0.05%
ZIP	F	-0.05%
WSBC	A	-0.05%
CTKB	F	-0.05%
IOVA	B	-0.05%
KOD	B	-0.05%
NSSC	F	-0.05%
BSIG	A	-0.05%
KALV	D	-0.05%
TSHA	F	-0.05%
UHT	D	-0.05%
ERAS	C	-0.05%
AKRO	A	-0.05%
MGNX	C	-0.04%
HROW	C	-0.04%
MSBI	A	-0.04%
CSR	D	-0.04%
FNKO	C	-0.04%
BRSP	C	-0.04%
ZNTL	D	-0.04%
BDTX	F	-0.04%
EDIT	F	-0.04%
DSGN	C	-0.04%
HUMA	D	-0.04%
TERN	D	-0.04%
NXRT	D	-0.04%
ANIK	F	-0.04%
BLBD	F	-0.04%
OPY	A	-0.04%
OIS	D	-0.04%
OABI	D	-0.04%
VYGR	C	-0.04%
UVE	C	-0.04%
ORGO	D	-0.04%
ALLK	B	-0.04%
FATE	F	-0.04%
DAKT	C	-0.04%
JBSS	F	-0.03%
FIZZ	B	-0.03%
SPNS	B	-0.03%
DOC	C	-0.03%
PKE	C	-0.03%
MBWM	D	-0.03%
HNST	C	-0.03%
NPK	F	-0.03%
SFL	F	-0.03%
GIII	C	-0.03%
MED	D	-0.03%
STBA	D	-0.03%
CWCO	F	-0.03%
GCI	C	-0.03%
SNBR	F	-0.03%
STNE	F	-0.03%
NKTX	F	-0.03%
RMAX	C	-0.03%
LMAT	B	-0.03%
UVSP	B	-0.03%
MCY	B	-0.03%
UVV	C	-0.03%
ARRY	D	-0.03%
AXNX	A	-0.03%
CHGG	F	-0.03%
TSE	D	-0.03%
RLMD	C	-0.03%
RLAY	F	-0.03%
YMAB	A	-0.03%
GRC	D	-0.03%
UFPI	C	-0.03%
ENTA	D	-0.03%
ACET	F	-0.03%
SHEN	F	-0.03%
SUPN	B	-0.02%
URGN	F	-0.02%
TNYA	F	-0.02%
DIN	D	-0.02%
XBIT	A	-0.02%
ANGO	D	-0.02%
DVAX	A	-0.02%
AOSL	D	-0.02%
ONTF	D	-0.02%
ENVX	D	-0.02%
CRBU	D	-0.02%
MCB	B	-0.02%
ALT	D	-0.02%
CTMX	F	-0.02%
MDXG	C	-0.02%
SPOK	A	-0.02%
TCBK	C	-0.02%
XNCR	A	-0.02%
MRSN	D	-0.02%
PRTS	F	-0.02%
RCKY	F	-0.02%
ZIMV	D	-0.02%
FCF	D	-0.02%
PGEN	F	-0.02%
FSTR	F	-0.02%
NKTR	C	-0.02%
PBYI	C	-0.02%
KPTI	C	-0.02%
ABUS	D	-0.02%
BOLT	C	-0.01%
AHT	F	-0.01%
INO	F	-0.01%
FGEN	F	-0.01%
ALVR	B	-0.01%
ZDGE	F	-0.01%
AVTE	C	-0.01%
SCWX	B	-0.01%
CHRS	F	-0.01%
SMMT	C	-0.01%
ADAP	F	-0.01%
EB	C	-0.01%
UPLD	F	-0.01%
CCBG	A	-0.01%
RIG	D	-0.01%