ESML vs. IGV ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to iShares Expanded Tech-Software Sector ETF (IGV)

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

IGV

iShares Expanded Tech-Software Sector ETF

IGV Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P North American Technology Software IndexTM (the "underlying index"). The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of U.S.-traded stocks of software-related companies in the United States and Canada. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$104.54

Average Daily Volume

3,734,295

Number of Holdings ^*

109

* may have additional holdings in another (foreign) market

Performance

Period	ESML	IGV
30 Days	6.19%	13.49%
60 Days	6.82%	17.20%
90 Days	7.85%	21.04%
12 Months	32.19%	37.76%

64 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in IGV	Overlap
ACIW	B	0.16%	0.2%	0.16%
AGYS	A	0.05%	0.09%	0.05%
AI	B	0.05%	0.1%	0.05%
ALKT	B	0.05%	0.08%	0.05%
ALRM	C	0.05%	0.1%	0.05%
ALTR	B	0.14%	0.22%	0.14%
APPF	B	0.11%	0.19%	0.11%
ASAN	B	0.05%	0.04%	0.04%
ATEN	A	0.06%	0.04%	0.04%
AUR	C	0.08%	0.19%	0.08%
AVPT	A	0.08%	0.06%	0.06%
BILL	A	0.14%	0.3%	0.14%
BL	B	0.08%	0.11%	0.08%
BLKB	B	0.12%	0.12%	0.12%
BOX	B	0.13%	0.17%	0.13%
BRZE	C	0.04%	0.08%	0.04%
CCCS	B	0.07%	0.17%	0.07%
CFLT	B	0.15%	0.25%	0.15%
CLSK	C	0.06%	0.12%	0.06%
CVLT	B	0.22%	0.26%	0.22%
CWAN	B	0.06%	0.2%	0.06%
CXM	C	0.04%	0.03%	0.03%
DBX	B	0.16%	0.23%	0.16%
DLB	B	0.16%	0.15%	0.15%
DV	C	0.1%	0.1%	0.1%
ENV	B	0.06%	0.09%	0.06%
ESTC	C	0.17%	0.27%	0.17%
ETWO	F	0.03%	0.02%	0.02%
FIVN	C	0.07%	0.1%	0.07%
FRSH	B	0.06%	0.1%	0.06%
GTLB	B	0.15%	0.25%	0.15%
GWRE	A	0.43%	0.57%	0.43%
HCP	B	0.1%	0.18%	0.1%
IDCC	B	0.14%	0.16%	0.14%
INTA	B	0.08%	0.1%	0.08%
JAMF	F	0.04%	0.03%	0.03%
MARA	B	0.09%	0.22%	0.09%
MLNK	C	0.05%	0.02%	0.02%
MTTR	B	0.05%	0.05%	0.05%
NABL	F	0.04%	0.03%	0.03%
NCNO	C	0.05%	0.13%	0.05%
NTNX	B	0.36%	0.61%	0.36%
PATH	C	0.11%	0.2%	0.11%
PCOR	B	0.17%	0.27%	0.17%
PD	C	0.05%	0.07%	0.05%
PEGA	B	0.11%	0.14%	0.11%
PRGS	A	0.24%	0.1%	0.1%
PRO	C	0.06%	0.04%	0.04%
QTWO	A	0.12%	0.21%	0.12%
RAMP	B	0.05%	0.07%	0.05%
RNG	C	0.05%	0.11%	0.05%
S	B	0.12%	0.28%	0.12%
SMAR	B	0.14%	0.27%	0.14%
SPSC	D	0.16%	0.23%	0.16%
SPT	C	0.04%	0.05%	0.04%
TDC	D	0.1%	0.1%	0.1%
TENB	C	0.1%	0.17%	0.1%
U	C	0.09%	0.19%	0.09%
VERX	A	0.06%	0.09%	0.06%
VRNS	D	0.06%	0.21%	0.06%
VRNT	C	0.06%	0.05%	0.05%
VYX	B	0.05%	0.07%	0.05%
WK	B	0.2%	0.17%	0.17%
ZUO	B	0.05%	0.05%	0.05%

ESML Overweight 840 Positions Relative to IGV

Symbol	Grade	Weight
CASY	A	0.52%
JHG	B	0.51%
USFD	A	0.49%
CVNA	B	0.48%
SFM	A	0.43%
INGR	C	0.42%
EWBC	A	0.4%
FIX	A	0.38%
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%
BMI	B	0.3%
RGA	A	0.3%
PNFP	B	0.3%
SNV	C	0.3%
SIGI	C	0.29%
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%
MWA	B	0.25%
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%
MOG.A	B	0.24%
IVZ	B	0.24%
ATR	B	0.24%
HRI	C	0.24%
NCLH	B	0.24%
REZI	A	0.23%
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%
FTDR	B	0.22%
CNM	D	0.22%
LAD	A	0.22%
GNRC	C	0.22%
FELE	B	0.22%
WAL	B	0.22%
CMC	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%
WTS	B	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%
CNO	B	0.2%
HOG	D	0.2%
FND	D	0.2%
LECO	C	0.2%
BDC	C	0.2%
KNSL	B	0.2%
WHR	B	0.2%
FBP	C	0.2%
PLNT	A	0.2%
KBH	D	0.2%
TGNA	B	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%
AVA	A	0.19%
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%
GPI	B	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%
EPRT	B	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%
PEN	B	0.17%
PLXS	B	0.17%
ASB	B	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%
KTB	B	0.16%
RGEN	D	0.16%
BRX	A	0.16%
MYRG	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%
BCC	B	0.16%
BHE	C	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%
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%
CPF	B	0.15%
MMSI	A	0.15%
FSS	B	0.15%
ANF	F	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%
HNI	B	0.15%
ITCI	C	0.15%
MOD	A	0.15%
WFRD	D	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%
SR	A	0.14%
RYAN	A	0.14%
TPH	D	0.14%
PRIM	A	0.14%
ACA	A	0.14%
RMBS	B	0.14%
MKSI	C	0.14%
IBCP	B	0.14%
ASGN	F	0.14%
TPX	B	0.14%
CZR	F	0.14%
ATI	C	0.14%
JXN	C	0.14%
FMC	D	0.14%
NSIT	F	0.13%
AVAV	C	0.13%
M	F	0.13%
HESM	B	0.13%
BRKR	D	0.13%
EPAC	C	0.13%
CAVA	B	0.13%
AIT	B	0.13%
MAT	D	0.13%
STRL	A	0.13%
CBT	D	0.13%
PDCO	F	0.13%
FYBR	C	0.13%
LRN	A	0.13%
ORI	A	0.13%
KNF	B	0.13%
KLIC	B	0.13%
SWX	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%
CVBF	A	0.12%
AGNC	C	0.12%
OLLI	D	0.12%
EVR	B	0.12%
DFIN	D	0.12%
YETI	D	0.12%
IRDM	D	0.12%
KOS	D	0.12%
RKLB	A	0.12%
WGO	C	0.12%
WHD	B	0.12%
GL	C	0.12%
ABG	C	0.12%
CRDO	B	0.12%
WERN	C	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%
CSGS	B	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%
WDFC	B	0.11%
SHOO	F	0.11%
CRNX	C	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%
HASI	D	0.1%
ERII	D	0.1%
PJT	A	0.1%
AROC	A	0.1%
SCL	C	0.1%
RVMD	C	0.1%
BRBR	A	0.1%
ALKS	C	0.1%
TRN	B	0.1%
FA	C	0.1%
SSD	F	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%
APAM	B	0.1%
CRC	A	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%
SIG	B	0.1%
AMAL	B	0.1%
CGNX	D	0.1%
LCII	C	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%
NMIH	C	0.09%
UPST	B	0.09%
ARW	D	0.09%
KFY	B	0.09%
CNK	C	0.09%
WEN	D	0.09%
POST	C	0.09%
SHAK	C	0.09%
RDN	D	0.09%
MGRC	B	0.09%
FR	D	0.09%
CURB	D	0.09%
SLAB	F	0.09%
ZI	D	0.09%
MTSI	B	0.09%
OPCH	D	0.09%
ESE	B	0.09%
NXST	C	0.09%
RL	C	0.09%
SJW	F	0.09%
ATKR	D	0.09%
HWC	B	0.09%
CRVL	B	0.09%
BRC	D	0.09%
IMAX	B	0.09%
IBP	D	0.09%
LNC	C	0.09%
POWL	C	0.09%
ACHC	F	0.09%
EVRI	A	0.08%
AMWD	C	0.08%
SBRA	C	0.08%
BXMT	C	0.08%
ICUI	D	0.08%
OLED	F	0.08%
KTOS	B	0.08%
KOP	C	0.08%
ICFI	F	0.08%
EWTX	C	0.08%
BPMC	B	0.08%
IESC	C	0.08%
TILE	B	0.08%
TBBK	B	0.08%
SPB	C	0.08%
IOSP	C	0.08%
ACLX	C	0.08%
SNX	D	0.08%
CRSP	D	0.08%
VSEC	C	0.08%
BPOP	C	0.08%
ST	F	0.08%
ALG	B	0.08%
SASR	B	0.08%
TNET	F	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%
TDS	B	0.08%
PIPR	A	0.08%
TARS	C	0.08%
PRKS	B	0.08%
BWIN	C	0.08%
AEO	F	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%
AAT	B	0.07%
SKT	A	0.07%
EE	A	0.07%
HI	C	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%
BDN	C	0.07%
ESNT	F	0.07%
VVX	C	0.07%
ENR	B	0.07%
SONO	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%
HIMS	B	0.07%
MHK	D	0.07%
HWKN	B	0.07%
GH	B	0.07%
BROS	A	0.07%
XHR	B	0.07%
ATRC	C	0.07%
VCTR	B	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%
SXT	C	0.07%
NWN	A	0.07%
AZZ	A	0.07%
OUT	A	0.07%
PAR	A	0.07%
UNFI	A	0.07%
ATGE	B	0.06%
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%
TMCI	C	0.06%
DLX	B	0.06%
IRON	B	0.06%
DCO	C	0.06%
VERA	C	0.06%
RBBN	C	0.06%
VRTS	B	0.06%
PBF	D	0.06%
SATS	D	0.06%
W	D	0.06%
MBUU	B	0.06%
PTCT	B	0.06%
PLAY	D	0.06%
EXPO	D	0.06%
AXSM	B	0.06%
MOV	D	0.06%
AGIO	C	0.06%
NRIX	C	0.06%
LXP	D	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%
TDOC	C	0.06%
EXP	B	0.06%
CLH	C	0.06%
ROCK	C	0.06%
PNTG	D	0.06%
AIR	B	0.06%
NBTB	B	0.06%
CLNE	F	0.06%
CMP	C	0.06%
MGNI	B	0.06%
AGO	B	0.06%
CAKE	C	0.06%
RUSHB	C	0.06%
KROS	D	0.06%
FL	F	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%
HELE	C	0.06%
CART	C	0.06%
BOOT	C	0.06%
SMTC	B	0.06%
PLUS	F	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%
HURN	C	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%
KE	C	0.06%
FUN	C	0.06%
KREF	C	0.06%
CLF	F	0.06%
MRUS	F	0.06%
FOUR	A	0.06%
MAN	F	0.06%
VRDN	D	0.06%
PDM	D	0.06%
PAHC	C	0.06%
MASI	B	0.06%
UPBD	B	0.06%
CALM	A	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%
NARI	C	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%
BNL	D	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%
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%
CPRX	C	0.05%
GERN	D	0.05%
APGE	F	0.05%
CNMD	C	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%
PSMT	D	0.05%
ACEL	C	0.05%
BASE	B	0.05%
WNC	C	0.05%
MLTX	B	0.05%
SLNO	C	0.05%
INVX	C	0.05%
PENN	C	0.05%
MODG	F	0.05%
MPW	F	0.05%
KSS	F	0.05%
AMBC	C	0.05%
PTGX	D	0.05%
BEAM	D	0.05%
AWR	B	0.05%
XPEL	B	0.05%
PFS	B	0.05%
PGRE	F	0.05%
EDR	A	0.05%
RUN	F	0.05%
DGII	C	0.05%
REVG	C	0.05%
PRAA	D	0.05%
HAIN	D	0.05%
INFN	D	0.05%
MRC	B	0.05%
SPR	D	0.05%
MNRO	D	0.05%
WKC	C	0.05%
SMP	C	0.05%
VITL	D	0.05%
LCID	F	0.05%
ELVN	D	0.05%
CWEN	C	0.05%
GO	C	0.05%
KYMR	D	0.05%
HAYW	B	0.05%
EMBC	C	0.05%
NEO	C	0.05%
SLVM	B	0.05%
XPRO	D	0.05%
OMCL	C	0.05%
HCC	B	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%
MHO	D	0.05%
PRG	C	0.05%
FFBC	B	0.05%
GEF	A	0.05%
TMDX	F	0.05%
SKY	A	0.05%
BE	B	0.05%
ADUS	D	0.05%
LIVN	F	0.05%
AORT	B	0.05%
SMPL	B	0.05%
SBH	C	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%
UFPT	C	0.05%
DNOW	B	0.05%
HLIT	D	0.05%
TNC	D	0.05%
ARQT	B	0.05%
GEF	A	0.05%
NUVL	C	0.05%
LEG	F	0.05%
YELP	C	0.05%
JBGS	F	0.05%
UAA	C	0.05%
RUSHA	C	0.05%
MXL	C	0.05%
COOP	B	0.05%
COLD	D	0.05%
CALX	D	0.05%
NBHC	C	0.05%
CIVI	D	0.05%
CRAI	C	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%
CAL	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%
EGY	D	0.04%
ESTA	D	0.04%
ARCT	F	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%
MLKN	F	0.04%
IMVT	F	0.04%
RCUS	F	0.04%
MTUS	C	0.04%
MMS	F	0.04%
AMN	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%
LGF.A	C	0.04%
CWT	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%
EPC	F	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%
CCRN	F	0.03%
CPRI	F	0.03%
MYGN	F	0.03%
BRY	F	0.03%
MQ	D	0.03%
STAA	F	0.03%
JELD	F	0.03%
KELYA	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 45 Positions Relative to IGV

Symbol	Grade	Weight
CRM	B	-9.42%
ORCL	A	-8.34%
MSFT	D	-7.19%
NOW	A	-7.13%
ADBE	C	-6.5%
PANW	B	-4.35%
PLTR	B	-4.17%
INTU	B	-4.13%
SNPS	B	-2.94%
CDNS	B	-2.91%
CRWD	B	-2.79%
ADSK	A	-2.31%
APP	B	-2.13%
ROP	B	-2.12%
FTNT	C	-2.1%
WDAY	B	-2.02%
MSTR	B	-2.0%
FICO	B	-1.99%
DDOG	A	-1.43%
TEAM	A	-1.39%
EA	A	-1.38%
HUBS	A	-1.25%
TTWO	A	-1.04%
ANSS	B	-1.04%
TYL	B	-0.92%
PTC	B	-0.8%
ZM	C	-0.76%
ZS	B	-0.68%
MANH	D	-0.6%
DOCU	B	-0.58%
GEN	B	-0.57%
DT	D	-0.56%
SNAP	D	-0.4%
IOT	A	-0.36%
BSY	F	-0.26%
AZPN	A	-0.23%
QLYS	B	-0.19%
ZETA	D	-0.12%
RIOT	C	-0.11%
YOU	D	-0.09%
RPD	B	-0.09%
APPN	B	-0.05%
ADEA	C	-0.04%
SWI	C	-0.03%
SEMR	C	-0.02%