ESML vs. FLQS ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS)

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

$44.46

Average Daily Volume

88,928

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

FLQS

Franklin LibertyQ U.S. Small Cap Equity ETF

FLQS Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Small Cap Equity Index (the U.S. Small Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Small Cap underlying index. The U.S. Small Cap underlying index is based on the Russell 2000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$44.51

Average Daily Volume

3,172

Number of Holdings ^*

463

* may have additional holdings in another (foreign) market

Performance

Period	ESML	FLQS
30 Days	6.19%	6.43%
60 Days	6.82%	6.42%
90 Days	7.85%	7.02%
12 Months	32.19%	27.84%

150 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in FLQS	Overlap
AAT	B	0.07%	0.17%	0.07%
ACIW	B	0.16%	0.39%	0.16%
AEO	F	0.08%	0.42%	0.08%
AGYS	A	0.05%	0.17%	0.05%
AIT	B	0.13%	1.3%	0.13%
ALG	B	0.08%	0.26%	0.08%
ALKS	C	0.1%	0.67%	0.1%
AMN	F	0.04%	0.15%	0.04%
ANF	F	0.15%	0.78%	0.15%
AORT	B	0.05%	0.07%	0.05%
APAM	B	0.1%	0.2%	0.1%
AROC	A	0.1%	0.35%	0.1%
ASB	B	0.17%	0.5%	0.17%
ATEN	A	0.06%	0.19%	0.06%
ATGE	B	0.06%	0.42%	0.06%
ATKR	D	0.09%	0.42%	0.09%
ATRC	C	0.07%	0.21%	0.07%
AVA	A	0.19%	0.38%	0.19%
AWR	B	0.05%	0.44%	0.05%
BASE	B	0.05%	0.05%	0.05%
BCC	B	0.16%	0.73%	0.16%
BDC	C	0.2%	0.56%	0.2%
BDN	C	0.07%	0.06%	0.06%
BHE	C	0.16%	0.11%	0.11%
BLKB	B	0.12%	0.46%	0.12%
BMI	B	0.3%	0.9%	0.3%
BNL	D	0.05%	0.4%	0.05%
BOX	B	0.13%	0.62%	0.13%
BXMT	C	0.08%	0.44%	0.08%
CAKE	C	0.06%	0.4%	0.06%
CAL	F	0.04%	0.15%	0.04%
CALM	A	0.06%	0.54%	0.06%
CALX	D	0.05%	0.2%	0.05%
CCRN	F	0.03%	0.05%	0.03%
CMC	B	0.22%	0.83%	0.22%
CNMD	C	0.05%	0.29%	0.05%
CNO	B	0.2%	0.29%	0.2%
CPF	B	0.15%	0.06%	0.06%
CPRX	C	0.05%	0.32%	0.05%
CRAI	C	0.05%	0.16%	0.05%
CRC	A	0.1%	0.54%	0.1%
CRVL	B	0.09%	0.42%	0.09%
CSGS	B	0.11%	0.25%	0.11%
CVBF	A	0.12%	0.34%	0.12%
CVLT	B	0.22%	1.2%	0.22%
CWT	C	0.04%	0.39%	0.04%
DFIN	D	0.12%	0.19%	0.12%
DLX	B	0.06%	0.15%	0.06%
EGY	D	0.04%	0.07%	0.04%
EMBC	C	0.05%	0.13%	0.05%
ENR	B	0.07%	0.26%	0.07%
EPAC	C	0.13%	0.17%	0.13%
EPC	F	0.04%	0.21%	0.04%
EPRT	B	0.18%	0.38%	0.18%
ESE	B	0.09%	0.48%	0.09%
ESNT	F	0.07%	0.8%	0.07%
EXPO	D	0.06%	0.71%	0.06%
FELE	B	0.22%	0.69%	0.22%
FL	F	0.06%	0.24%	0.06%
FSS	B	0.15%	0.35%	0.15%
FTDR	B	0.22%	0.57%	0.22%
GEF	A	0.05%	0.05%	0.05%
GEF	A	0.05%	0.05%	0.05%
GEF	A	0.05%	0.23%	0.05%
GEF	A	0.05%	0.23%	0.05%
GPI	B	0.19%	0.73%	0.19%
HCC	B	0.05%	0.44%	0.05%
HELE	C	0.06%	0.19%	0.06%
HI	C	0.07%	0.27%	0.07%
HIMS	B	0.07%	0.37%	0.07%
HLIT	D	0.05%	0.16%	0.05%
HNI	B	0.15%	0.39%	0.15%
HURN	C	0.06%	0.2%	0.06%
HWKN	B	0.07%	0.23%	0.07%
IBP	D	0.09%	0.69%	0.09%
ICFI	F	0.08%	0.36%	0.08%
IDCC	B	0.14%	0.55%	0.14%
IESC	C	0.08%	0.24%	0.08%
IOSP	C	0.08%	0.39%	0.08%
JXN	C	0.14%	1.0%	0.14%
KELYA	F	0.03%	0.06%	0.03%
KFY	B	0.09%	0.64%	0.09%
KREF	C	0.06%	0.08%	0.06%
KTB	B	0.16%	0.84%	0.16%
LCII	C	0.1%	0.35%	0.1%
LRN	A	0.13%	0.64%	0.13%
MGRC	B	0.09%	0.36%	0.09%
MHO	D	0.05%	0.45%	0.05%
MLKN	F	0.04%	0.23%	0.04%
MMSI	A	0.15%	0.71%	0.15%
MNRO	D	0.05%	0.12%	0.05%
MOG.A	B	0.24%	0.74%	0.24%
MOV	D	0.06%	0.05%	0.05%
MWA	B	0.25%	0.46%	0.25%
NARI	C	0.06%	0.36%	0.06%
NBTB	B	0.06%	0.29%	0.06%
NMIH	C	0.09%	0.4%	0.09%
NSIT	F	0.13%	0.56%	0.13%
NWN	A	0.07%	0.2%	0.07%
OPCH	D	0.09%	0.24%	0.09%
PAHC	C	0.06%	0.07%	0.06%
PBF	D	0.06%	0.34%	0.06%
PDCO	F	0.13%	0.27%	0.13%
PDM	D	0.06%	0.15%	0.06%
PGRE	F	0.05%	0.06%	0.05%
PJT	A	0.1%	0.24%	0.1%
PLUS	F	0.06%	0.3%	0.06%
PLXS	B	0.17%	0.42%	0.17%
PRGS	A	0.24%	0.38%	0.24%
PRIM	A	0.14%	0.28%	0.14%
PRO	C	0.06%	0.11%	0.06%
PSMT	D	0.05%	0.31%	0.05%
REVG	C	0.05%	0.1%	0.05%
REZI	A	0.23%	0.27%	0.23%
RMBS	B	0.14%	0.75%	0.14%
RUSHA	C	0.05%	0.48%	0.05%
RUSHB	C	0.06%	0.06%	0.06%
SBH	C	0.05%	0.24%	0.05%
SFM	A	0.43%	1.67%	0.43%
SHOO	F	0.11%	0.47%	0.11%
SIG	B	0.1%	0.58%	0.1%
SIGI	C	0.29%	0.65%	0.29%
SJW	F	0.09%	0.22%	0.09%
SKT	A	0.07%	0.55%	0.07%
SLVM	B	0.05%	0.36%	0.05%
SMP	C	0.05%	0.1%	0.05%
SONO	C	0.07%	0.19%	0.07%
SPSC	D	0.16%	0.87%	0.16%
SR	A	0.14%	0.43%	0.14%
SWX	B	0.13%	0.68%	0.13%
SXT	C	0.07%	0.42%	0.07%
TDS	B	0.08%	0.45%	0.08%
TGNA	B	0.2%	0.45%	0.2%
TILE	B	0.08%	0.1%	0.08%
TMCI	C	0.06%	0.04%	0.04%
TNC	D	0.05%	0.24%	0.05%
TNET	F	0.08%	0.33%	0.08%
UFPT	C	0.05%	0.24%	0.05%
UNFI	A	0.07%	0.15%	0.07%
UPBD	B	0.06%	0.26%	0.06%
VCTR	B	0.07%	0.27%	0.07%
VITL	D	0.05%	0.07%	0.05%
VRNS	D	0.06%	0.37%	0.06%
WDFC	B	0.11%	0.58%	0.11%
WERN	C	0.12%	0.41%	0.12%
WK	B	0.2%	0.47%	0.2%
WNC	C	0.05%	0.09%	0.05%
WTS	B	0.21%	0.8%	0.21%
XPEL	B	0.05%	0.13%	0.05%
YELP	C	0.05%	0.36%	0.05%

ESML Overweight 756 Positions Relative to FLQS

Symbol	Grade	Weight
CASY	A	0.52%
JHG	B	0.51%
USFD	A	0.49%
CVNA	B	0.48%
GWRE	A	0.43%
INGR	C	0.42%
EWBC	A	0.4%
FIX	A	0.38%
NTNX	B	0.36%
KBR	F	0.35%
FTI	A	0.35%
AYI	B	0.34%
JLL	D	0.34%
MUSA	B	0.34%
FLEX	B	0.33%
XPO	B	0.33%
IBKR	A	0.32%
FRT	B	0.31%
REXR	F	0.31%
NTRA	A	0.31%
OGS	A	0.31%
OSK	C	0.3%
GBCI	B	0.3%
BWXT	B	0.3%
RGA	A	0.3%
PNFP	B	0.3%
SNV	C	0.3%
TPR	B	0.29%
EHC	B	0.29%
RGLD	C	0.29%
R	B	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%
UMBF	B	0.27%
WBS	A	0.27%
SSB	B	0.27%
AXTA	B	0.27%
BLD	D	0.26%
GPK	C	0.26%
ALSN	B	0.26%
WEX	D	0.25%
UNM	A	0.25%
DCI	B	0.25%
AAON	B	0.25%
RRC	B	0.25%
BJ	A	0.25%
WCC	B	0.24%
FTAI	A	0.24%
UGI	C	0.24%
RNR	C	0.24%
IVZ	B	0.24%
ATR	B	0.24%
HRI	C	0.24%
NCLH	B	0.24%
AFRM	A	0.23%
CBSH	B	0.23%
ARMK	B	0.23%
PRI	B	0.23%
AWI	A	0.23%
EXLS	B	0.23%
ALK	B	0.23%
CW	C	0.23%
FHN	A	0.23%
THC	D	0.23%
MTG	C	0.23%
SOFI	B	0.22%
CNM	D	0.22%
LAD	A	0.22%
GNRC	C	0.22%
WAL	B	0.22%
AR	B	0.22%
EGP	D	0.21%
CDP	C	0.21%
CMA	B	0.21%
CACI	D	0.21%
WMS	F	0.21%
INSM	C	0.21%
PCVX	D	0.21%
ONTO	F	0.21%
LSTR	D	0.21%
CUZ	B	0.21%
RHI	C	0.21%
GME	C	0.21%
NJR	A	0.21%
ITRI	C	0.2%
HOG	D	0.2%
FND	D	0.2%
LECO	C	0.2%
KNSL	B	0.2%
WHR	B	0.2%
FBP	C	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	C	0.2%
ZION	B	0.2%
BHLB	B	0.2%
ENSG	C	0.2%
RLI	A	0.2%
HHH	B	0.2%
BFAM	D	0.2%
ZWS	B	0.2%
PR	B	0.19%
AMG	B	0.19%
WING	D	0.19%
CIEN	C	0.19%
FCN	F	0.19%
LUMN	C	0.19%
HAS	D	0.19%
ONB	C	0.19%
AXS	A	0.19%
HRB	D	0.19%
LNW	F	0.19%
OHI	C	0.19%
SNDR	B	0.19%
DAR	C	0.19%
FRPT	A	0.19%
AA	A	0.19%
NOVT	D	0.19%
RHP	B	0.19%
WWD	C	0.19%
CR	A	0.19%
NVT	B	0.19%
BANR	B	0.18%
SF	B	0.18%
SRPT	F	0.18%
NYT	D	0.18%
BWA	D	0.18%
SPXC	A	0.18%
THG	A	0.18%
GKOS	B	0.18%
KNTK	A	0.18%
MORN	B	0.18%
DUOL	A	0.18%
MDU	D	0.18%
VFC	C	0.18%
ENLC	A	0.18%
MTH	D	0.17%
AEIS	C	0.17%
LAZ	B	0.17%
CHX	C	0.17%
BERY	C	0.17%
FN	C	0.17%
PCH	F	0.17%
TMHC	C	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
VVV	D	0.17%
LPX	B	0.17%
UBSI	B	0.17%
MSA	F	0.17%
GATX	A	0.17%
WSC	F	0.17%
MTZ	B	0.17%
DLB	B	0.16%
RGEN	D	0.16%
BRX	A	0.16%
MYRG	B	0.16%
DBX	B	0.16%
TTEK	F	0.16%
FAF	A	0.16%
EAT	A	0.16%
HQY	A	0.16%
TNL	A	0.16%
TKO	A	0.16%
SLM	A	0.16%
JAZZ	B	0.16%
SITE	F	0.16%
FLS	B	0.16%
ELAN	D	0.16%
GXO	B	0.16%
VOYA	B	0.16%
PVH	C	0.16%
CFLT	B	0.15%
VLY	B	0.15%
ECG	C	0.15%
CADE	B	0.15%
WH	B	0.15%
MEDP	D	0.15%
CRUS	D	0.15%
CROX	D	0.15%
AM	A	0.15%
VNT	C	0.15%
FIBK	B	0.15%
CRS	B	0.15%
NOV	C	0.15%
LSCC	D	0.15%
RRX	B	0.15%
ITCI	C	0.15%
MOD	A	0.15%
WFRD	D	0.15%
GTLB	B	0.15%
PINC	B	0.14%
OZK	B	0.14%
HXL	F	0.14%
BECN	B	0.14%
X	B	0.14%
CHDN	B	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	B	0.14%
ACA	A	0.14%
ALTR	B	0.14%
MKSI	C	0.14%
IBCP	B	0.14%
BILL	A	0.14%
ASGN	F	0.14%
TPX	B	0.14%
CZR	F	0.14%
ATI	C	0.14%
FMC	D	0.14%
AVAV	C	0.13%
M	F	0.13%
HESM	B	0.13%
BRKR	D	0.13%
CAVA	B	0.13%
MAT	D	0.13%
STRL	A	0.13%
CBT	D	0.13%
FYBR	C	0.13%
ORI	A	0.13%
KNF	B	0.13%
KLIC	B	0.13%
ITGR	B	0.13%
CYTK	F	0.13%
AZEK	A	0.13%
CPK	A	0.13%
MUR	D	0.13%
NPO	A	0.13%
WTM	A	0.13%
BCPC	B	0.13%
VMI	B	0.13%
ELF	C	0.13%
COLB	B	0.13%
CABO	B	0.13%
AGCO	D	0.13%
HIW	C	0.13%
AGNC	C	0.12%
OLLI	D	0.12%
EVR	B	0.12%
YETI	D	0.12%
IRDM	D	0.12%
QTWO	A	0.12%
KOS	D	0.12%
RKLB	A	0.12%
WGO	C	0.12%
WHD	B	0.12%
S	B	0.12%
GL	C	0.12%
ABG	C	0.12%
CRDO	B	0.12%
THO	B	0.12%
MTX	B	0.12%
ADT	C	0.12%
GAP	C	0.12%
HAE	C	0.12%
FULT	A	0.12%
PEGA	B	0.11%
PATH	C	0.11%
TXRH	B	0.11%
JEF	A	0.11%
DXC	B	0.11%
ORA	B	0.11%
KRC	B	0.11%
GMED	A	0.11%
ABCB	B	0.11%
AUB	B	0.11%
VKTX	F	0.11%
LYFT	C	0.11%
XENE	D	0.11%
CRNX	C	0.11%
APPF	B	0.11%
ECPG	C	0.11%
EFSC	B	0.11%
SON	F	0.11%
ADC	A	0.11%
MRCY	C	0.11%
HALO	F	0.11%
LBRDA	C	0.11%
KAR	B	0.11%
VC	F	0.1%
RXO	D	0.1%
CFR	B	0.1%
NWL	C	0.1%
TDC	D	0.1%
HASI	D	0.1%
ERII	D	0.1%
SCL	C	0.1%
RVMD	C	0.1%
HCP	B	0.1%
BRBR	A	0.1%
TENB	C	0.1%
TRN	B	0.1%
FA	C	0.1%
SSD	F	0.1%
DV	C	0.1%
CAC	C	0.1%
STWD	C	0.1%
FUL	F	0.1%
VECO	F	0.1%
NXT	C	0.1%
SLG	B	0.1%
ETSY	D	0.1%
DY	D	0.1%
BHVN	D	0.1%
DNLI	D	0.1%
DRS	B	0.1%
LITE	B	0.1%
PFSI	C	0.1%
FLR	B	0.1%
TRNO	F	0.1%
AL	B	0.1%
RDUS	B	0.1%
CCOI	B	0.1%
RDNT	B	0.1%
KD	B	0.1%
AMAL	B	0.1%
CGNX	D	0.1%
ALTM	B	0.1%
PSN	D	0.1%
LNTH	D	0.1%
FIVE	F	0.1%
LEA	F	0.1%
VNO	C	0.09%
OGN	F	0.09%
AMED	F	0.09%
RNA	C	0.09%
ABM	B	0.09%
UPST	B	0.09%
U	C	0.09%
ARW	D	0.09%
CNK	C	0.09%
WEN	D	0.09%
POST	C	0.09%
SHAK	C	0.09%
RDN	D	0.09%
FR	D	0.09%
CURB	D	0.09%
SLAB	F	0.09%
ZI	D	0.09%
MTSI	B	0.09%
NXST	C	0.09%
RL	C	0.09%
HWC	B	0.09%
MARA	B	0.09%
BRC	D	0.09%
IMAX	B	0.09%
LNC	C	0.09%
POWL	C	0.09%
ACHC	F	0.09%
EVRI	A	0.08%
AVPT	A	0.08%
AMWD	C	0.08%
SBRA	C	0.08%
ICUI	D	0.08%
OLED	F	0.08%
KTOS	B	0.08%
KOP	C	0.08%
AUR	C	0.08%
EWTX	C	0.08%
BPMC	B	0.08%
BL	B	0.08%
TBBK	B	0.08%
SPB	C	0.08%
ACLX	C	0.08%
SNX	D	0.08%
CRSP	D	0.08%
VSEC	C	0.08%
BPOP	C	0.08%
INTA	B	0.08%
ST	F	0.08%
SASR	B	0.08%
PLYA	B	0.08%
PRVA	C	0.08%
LBPH	A	0.08%
TEX	F	0.08%
INDB	B	0.08%
CHWY	B	0.08%
INSP	D	0.08%
ENOV	C	0.08%
VAC	C	0.08%
PIPR	A	0.08%
TARS	C	0.08%
PRKS	B	0.08%
BWIN	C	0.08%
HR	B	0.08%
NTGR	B	0.08%
UNIT	B	0.08%
BOH	B	0.08%
LNN	B	0.08%
STC	B	0.08%
MAC	B	0.08%
PRCT	B	0.08%
JBT	B	0.08%
DOCS	C	0.08%
GVA	A	0.08%
ZD	B	0.08%
PLMR	A	0.08%
MIR	A	0.08%
RNST	B	0.08%
DEA	D	0.07%
EE	A	0.07%
GBX	A	0.07%
RARE	F	0.07%
LBRDK	C	0.07%
UEC	B	0.07%
CWEN	C	0.07%
WU	F	0.07%
GT	C	0.07%
HGV	C	0.07%
ESRT	C	0.07%
SEE	C	0.07%
PECO	A	0.07%
HAFC	B	0.07%
COLM	C	0.07%
VSCO	C	0.07%
TREX	C	0.07%
CWK	C	0.07%
GTES	A	0.07%
VVX	C	0.07%
AVNT	B	0.07%
PRGO	C	0.07%
ZYME	C	0.07%
ROG	D	0.07%
SEM	B	0.07%
ALHC	C	0.07%
AZTA	D	0.07%
MHK	D	0.07%
GH	B	0.07%
BROS	A	0.07%
XHR	B	0.07%
FIVN	C	0.07%
HBI	B	0.07%
BC	C	0.07%
CTS	C	0.07%
WTFC	A	0.07%
WRBY	A	0.07%
AN	C	0.07%
PI	D	0.07%
CCCS	B	0.07%
AZZ	A	0.07%
OUT	A	0.07%
PAR	A	0.07%
MTRN	C	0.06%
CBZ	B	0.06%
VRRM	F	0.06%
CAR	C	0.06%
FNA	B	0.06%
WT	A	0.06%
SG	B	0.06%
AAP	D	0.06%
CLSK	C	0.06%
IRON	B	0.06%
DCO	C	0.06%
VERA	C	0.06%
RBBN	C	0.06%
VRTS	B	0.06%
SATS	D	0.06%
W	D	0.06%
MBUU	B	0.06%
PTCT	B	0.06%
PLAY	D	0.06%
AXSM	B	0.06%
AGIO	C	0.06%
NRIX	C	0.06%
LXP	D	0.06%
VRNT	C	0.06%
COKE	C	0.06%
JWN	D	0.06%
POWI	F	0.06%
CMCO	C	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	F	0.06%
CMP	C	0.06%
MGNI	B	0.06%
AGO	B	0.06%
KROS	D	0.06%
VREX	B	0.06%
ANDE	D	0.06%
FROG	C	0.06%
SFBS	C	0.06%
PYCR	B	0.06%
VBTX	B	0.06%
PEB	D	0.06%
CART	C	0.06%
BOOT	C	0.06%
SMTC	B	0.06%
OWL	A	0.06%
NVST	B	0.06%
PPBI	C	0.06%
ACVA	B	0.06%
SM	B	0.06%
RCM	A	0.06%
ROIV	C	0.06%
FLYW	B	0.06%
APG	B	0.06%
IDYA	F	0.06%
EYE	C	0.06%
PK	C	0.06%
ADMA	B	0.06%
CLB	B	0.06%
MNKD	C	0.06%
CCS	D	0.06%
TALO	C	0.06%
TGI	B	0.06%
BYD	B	0.06%
BKU	A	0.06%
AVDX	B	0.06%
VNOM	A	0.06%
FRSH	B	0.06%
KE	C	0.06%
ENV	B	0.06%
FUN	C	0.06%
CLF	F	0.06%
MRUS	F	0.06%
FOUR	A	0.06%
MAN	F	0.06%
VRDN	D	0.06%
VERX	A	0.06%
MASI	B	0.06%
IBOC	B	0.06%
WD	D	0.06%
RH	C	0.06%
VVI	C	0.06%
FFIN	B	0.06%
COMP	B	0.06%
OII	B	0.06%
PAYO	A	0.06%
BANC	B	0.06%
CBU	B	0.06%
SWTX	C	0.05%
KLG	B	0.05%
RXST	F	0.05%
EWCZ	F	0.05%
TWST	F	0.05%
HZO	F	0.05%
AXL	C	0.05%
ARVN	F	0.05%
PBI	B	0.05%
NUVB	C	0.05%
THRM	F	0.05%
ZEUS	C	0.05%
ETNB	C	0.05%
HLX	B	0.05%
RYN	D	0.05%
ALRM	C	0.05%
IONS	F	0.05%
PLOW	D	0.05%
DOCN	C	0.05%
ARKO	C	0.05%
SHC	F	0.05%
CECO	B	0.05%
LEVI	F	0.05%
ICHR	C	0.05%
FTRE	D	0.05%
INFA	D	0.05%
GERN	D	0.05%
APGE	F	0.05%
VSTS	C	0.05%
FLG	D	0.05%
ARCB	C	0.05%
CDE	C	0.05%
CLVT	D	0.05%
XRAY	F	0.05%
GOGO	C	0.05%
ACEL	C	0.05%
MLTX	B	0.05%
SLNO	C	0.05%
INVX	C	0.05%
PENN	C	0.05%
ASAN	B	0.05%
MLNK	C	0.05%
MODG	F	0.05%
MPW	F	0.05%
AI	B	0.05%
KSS	F	0.05%
AMBC	C	0.05%
PTGX	D	0.05%
BEAM	D	0.05%
PFS	B	0.05%
EDR	A	0.05%
RUN	F	0.05%
DGII	C	0.05%
PRAA	D	0.05%
HAIN	D	0.05%
INFN	D	0.05%
MRC	B	0.05%
SPR	D	0.05%
WKC	C	0.05%
LCID	F	0.05%
ELVN	D	0.05%
CWEN	C	0.05%
MTTR	B	0.05%
GO	C	0.05%
KYMR	D	0.05%
HAYW	B	0.05%
NEO	C	0.05%
XPRO	D	0.05%
RAMP	B	0.05%
ZUO	B	0.05%
VYX	B	0.05%
OMCL	C	0.05%
MMI	C	0.05%
BGC	C	0.05%
JANX	C	0.05%
PDFS	C	0.05%
CSTL	D	0.05%
IART	C	0.05%
CC	C	0.05%
PRG	C	0.05%
FFBC	B	0.05%
TMDX	F	0.05%
SKY	A	0.05%
BE	B	0.05%
ADUS	D	0.05%
LIVN	F	0.05%
SMPL	B	0.05%
KMPR	A	0.05%
EPR	C	0.05%
MDGL	B	0.05%
ASTE	C	0.05%
CUBI	B	0.05%
ARWR	D	0.05%
KVYO	C	0.05%
LOPE	C	0.05%
RNG	C	0.05%
DNOW	B	0.05%
ARQT	B	0.05%
NUVL	C	0.05%
LEG	F	0.05%
JBGS	F	0.05%
UAA	C	0.05%
MXL	C	0.05%
NCNO	C	0.05%
COOP	B	0.05%
COLD	D	0.05%
NBHC	C	0.05%
ALKT	B	0.05%
PD	C	0.05%
CIVI	D	0.05%
RCKT	F	0.04%
OMI	F	0.04%
FOXF	F	0.04%
CLW	F	0.04%
HPP	F	0.04%
FORM	D	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%
XRX	F	0.04%
CRI	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	D	0.04%
CGEM	F	0.04%
COUR	F	0.04%
SAVA	C	0.04%
LESL	D	0.04%
SIBN	F	0.04%
SNDX	F	0.04%
IMVT	F	0.04%
RCUS	F	0.04%
NABL	F	0.04%
MTUS	C	0.04%
MMS	F	0.04%
OSCR	D	0.04%
AMC	C	0.04%
ASH	F	0.04%
PLUG	F	0.04%
DYN	F	0.04%
PLRX	D	0.04%
HL	D	0.04%
BBIO	F	0.04%
DK	C	0.04%
QDEL	F	0.04%
ARLO	C	0.04%
ALEC	F	0.04%
FLO	D	0.04%
PTEN	C	0.04%
NVCR	C	0.04%
MEI	F	0.04%
IVR	F	0.04%
BRZE	C	0.04%
LGF.A	C	0.04%
THS	D	0.04%
UCB	A	0.04%
KRYS	C	0.04%
RXRX	F	0.04%
GRBK	D	0.04%
TROX	D	0.04%
COGT	D	0.04%
RKT	F	0.04%
AHH	D	0.04%
NEOG	F	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	D	0.03%
APLS	F	0.03%
CPRI	F	0.03%
MYGN	F	0.03%
ETWO	F	0.03%
BRY	F	0.03%
MQ	D	0.03%
STAA	F	0.03%
JELD	F	0.03%
AGL	F	0.02%
MC	C	0.02%
NOVA	F	0.02%
VSAT	F	0.02%
DEI	B	0.02%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	D	0.01%
MAGN	D	0.01%

ESML Underweight 315 Positions Relative to FLQS

Symbol	Grade	Weight
MLI	B	-1.32%
UFPI	C	-0.99%
CSWI	B	-0.83%
QLYS	B	-0.79%
MATX	C	-0.66%
HOMB	A	-0.65%
KAI	B	-0.63%
CORT	B	-0.62%
GMS	B	-0.61%
CEIX	A	-0.6%
MGY	A	-0.59%
BCO	F	-0.58%
PNM	B	-0.56%
PBH	A	-0.56%
CTRE	C	-0.54%
MGEE	B	-0.49%
LANC	C	-0.45%
NOG	B	-0.45%
ASO	F	-0.45%
NWE	B	-0.44%
GNW	A	-0.41%
GEO	B	-0.4%
OTTR	C	-0.39%
IPAR	B	-0.37%
BTU	B	-0.37%
ARCH	B	-0.37%
IIPR	D	-0.36%
NSP	F	-0.35%
GOLF	B	-0.35%
PATK	C	-0.35%
CARG	B	-0.35%
FCPT	C	-0.35%
UNF	B	-0.34%
OSIS	A	-0.33%
AMR	C	-0.33%
PRDO	B	-0.31%
STRA	C	-0.31%
SXI	B	-0.31%
JJSF	C	-0.3%
STNG	F	-0.3%
ENVA	B	-0.3%
ACAD	C	-0.27%
LMAT	A	-0.27%
LZB	B	-0.27%
ACLS	F	-0.27%
EXTR	C	-0.26%
MCY	A	-0.25%
BKE	B	-0.24%
ROIC	A	-0.24%
GPOR	B	-0.23%
NWBI	B	-0.23%
HEES	C	-0.23%
CENTA	C	-0.23%
DORM	B	-0.23%
VSH	F	-0.23%
WWW	A	-0.22%
NHC	C	-0.22%
CHCO	B	-0.22%
CMPR	D	-0.21%
PZZA	F	-0.21%
LTC	B	-0.2%
KFRC	D	-0.19%
UVV	B	-0.19%
RVLV	A	-0.19%
BLMN	F	-0.19%
INSW	F	-0.19%
CBRL	C	-0.19%
GFF	A	-0.19%
OXM	F	-0.18%
NSSC	D	-0.18%
WMK	C	-0.18%
INMD	C	-0.18%
APOG	C	-0.18%
PRK	B	-0.18%
MD	C	-0.18%
VCEL	B	-0.18%
HOPE	C	-0.18%
SCS	C	-0.17%
SFL	D	-0.17%
NVEE	F	-0.17%
GABC	B	-0.17%
YOU	D	-0.17%
NTCT	C	-0.17%
FIZZ	C	-0.17%
SRCE	B	-0.16%
GIII	D	-0.16%
MCRI	A	-0.16%
IMKTA	C	-0.15%
BBSI	B	-0.15%
HSII	B	-0.15%
ACT	C	-0.15%
INVA	D	-0.15%
PEBO	B	-0.15%
PFBC	B	-0.14%
MDXG	B	-0.14%
OCFC	B	-0.14%
BRKL	B	-0.14%
DXPE	C	-0.13%
SYBT	B	-0.13%
MRTN	D	-0.13%
TMP	B	-0.13%
SXC	A	-0.13%
ODP	F	-0.13%
SAH	C	-0.13%
UTL	B	-0.12%
CWH	B	-0.12%
UPWK	B	-0.12%
BLX	B	-0.12%
CRGY	B	-0.12%
IDT	B	-0.11%
CNXN	C	-0.11%
ETD	C	-0.11%
GRC	A	-0.11%
FWRD	D	-0.11%
HCKT	B	-0.11%
IMXI	B	-0.11%
HRMY	D	-0.11%
FIGS	F	-0.1%
AESI	B	-0.1%
YEXT	B	-0.1%
DHT	F	-0.1%
MLR	C	-0.1%
SSTK	F	-0.1%
SPTN	D	-0.1%
SPNS	F	-0.1%
JBSS	F	-0.1%
EGBN	B	-0.1%
UTI	B	-0.1%
JACK	C	-0.1%
HTLD	C	-0.09%
TRST	B	-0.09%
RGR	F	-0.09%
OSPN	A	-0.09%
CMRE	C	-0.09%
THR	B	-0.09%
ELME	D	-0.09%
ZIP	D	-0.09%
GOGL	F	-0.09%
TRTX	C	-0.08%
SWBI	C	-0.08%
LQDT	B	-0.08%
SCVL	F	-0.08%
MATW	C	-0.08%
RYI	C	-0.08%
SCHL	F	-0.08%
EBF	F	-0.08%
USNA	C	-0.07%
NRDS	C	-0.07%
TPB	B	-0.07%
WRLD	C	-0.07%
NFBK	C	-0.07%
PTLO	F	-0.07%
CASS	C	-0.07%
SMBC	B	-0.07%
YORW	F	-0.07%
IRWD	F	-0.07%
BBW	C	-0.07%
CVI	F	-0.07%
ACCO	C	-0.07%
MYE	F	-0.06%
FFIC	B	-0.06%
LOVE	A	-0.06%
HVT	D	-0.06%
CYH	F	-0.06%
LPG	F	-0.06%
LILAK	D	-0.06%
FOR	F	-0.06%
HY	D	-0.06%
ASC	F	-0.06%
FC	F	-0.06%
FMNB	B	-0.06%
CCSI	C	-0.06%
GIC	D	-0.06%
IRMD	C	-0.06%
AXGN	C	-0.06%
LYTS	B	-0.06%
NUS	D	-0.06%
COLL	F	-0.06%
UHT	D	-0.06%
CHCT	C	-0.06%
BMRC	B	-0.05%
MCFT	C	-0.05%
HTBK	B	-0.05%
BV	C	-0.05%
NGVC	A	-0.05%
ULH	C	-0.05%
RMR	F	-0.05%
GCO	C	-0.05%
NVEC	B	-0.05%
NPK	B	-0.05%
LXFR	C	-0.05%
VLGEA	C	-0.05%
FBIZ	B	-0.05%
TCMD	B	-0.05%
OOMA	B	-0.05%
MCW	C	-0.05%
DJCO	B	-0.05%
CENT	C	-0.05%
LINC	C	-0.05%
FCBC	C	-0.05%
SRDX	B	-0.05%
CFB	B	-0.05%
ENFN	B	-0.05%
SEMR	C	-0.04%
RM	C	-0.04%
PKST	F	-0.04%
SB	F	-0.04%
CMTG	F	-0.04%
MITK	C	-0.04%
METC	C	-0.04%
AMCX	C	-0.04%
HBCP	C	-0.04%
ORGO	B	-0.04%
VNDA	C	-0.04%
SPOK	B	-0.04%
GNTY	A	-0.04%
TITN	C	-0.04%
NAT	F	-0.04%
ODC	B	-0.04%
PLPC	B	-0.04%
FLIC	B	-0.04%
NECB	C	-0.04%
REPX	A	-0.04%
SIGA	F	-0.04%
LGTY	C	-0.04%
RGP	F	-0.04%
PFIS	A	-0.04%
NRC	F	-0.04%
CDXC	B	-0.03%
KRT	B	-0.03%
YMAB	F	-0.03%
FLWS	D	-0.03%
TTSH	F	-0.03%
KRNY	C	-0.03%
OFLX	D	-0.03%
PFMT	F	-0.03%
MED	D	-0.03%
ALX	D	-0.03%
OLP	B	-0.03%
TH	C	-0.03%
IMMR	C	-0.03%
CMPO	B	-0.03%
LILA	D	-0.03%
NATH	C	-0.03%
EVER	D	-0.03%
GCMG	B	-0.03%
PBPB	C	-0.03%
BWMN	C	-0.03%
PKBK	A	-0.03%
SMLR	B	-0.03%
RMAX	C	-0.03%
IBTA	C	-0.03%
VPG	F	-0.03%
WEYS	C	-0.03%
RLGT	B	-0.03%
GRNT	B	-0.03%
GPMT	C	-0.02%
NREF	A	-0.02%
RMNI	C	-0.02%
BTMD	B	-0.02%
SGC	C	-0.02%
III	C	-0.02%
ESCA	B	-0.02%
REFI	A	-0.02%
SNBR	F	-0.02%
FLXS	B	-0.02%
MYPS	C	-0.02%
RCKY	F	-0.02%
APEI	B	-0.02%
GWRS	B	-0.02%
INFU	B	-0.02%
AVNW	F	-0.02%
RELL	B	-0.02%
JYNT	C	-0.02%
JOUT	F	-0.02%
DXLG	D	-0.02%
CHMG	B	-0.02%
CZNC	C	-0.02%
HOFT	B	-0.02%
ESSA	B	-0.02%
DBI	F	-0.02%
ZYXI	D	-0.02%
EPM	A	-0.02%
IBEX	B	-0.02%
CIO	C	-0.02%
MG	D	-0.02%
REAL	B	-0.02%
NATR	C	-0.02%
JAKK	C	-0.02%
LCUT	F	-0.01%
CURV	D	-0.01%
MAPS	B	-0.01%
FENC	D	-0.01%
CIX	D	-0.01%
NTIC	B	-0.01%
PBYI	C	-0.01%
METCB	F	-0.01%
LWAY	C	-0.01%
STKS	F	-0.01%
HBIO	F	-0.01%
NL	B	-0.01%
QIPT	F	-0.01%
SEVN	C	-0.01%
CPSS	B	-0.01%
VIRC	B	-0.01%
CMT	C	-0.01%
HBB	F	-0.01%
MPX	C	-0.01%
FORR	C	-0.01%
BSVN	B	-0.01%
EGAN	C	-0.01%
VRA	C	-0.01%
FSTR	B	-0.01%
GAMB	A	-0.01%
JILL	C	-0.01%