ESML vs. ISMD ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Inspire Small/Mid Cap Impact ETF (ISMD)

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

$45.22

Average Daily Volume

89,295

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

ISMD

Inspire Small/Mid Cap Impact ETF

ISMD Description

Inspire Small/Mid Cap Impact ETF (ISMD) invests into inspiring, biblically aligned small and mid-sized companies ($1B-$3.5B market cap) from the United States. ISMD is managed according to biblically responsible investing standards seeking to create meaningful impact in the world and help investors align their investments to support biblical values. The Inspire Small/Mid Cap Impact ETF seeks to replicate investment results that generally correspond, before fees and expenses, to the performance of the Inspire Small/Mid Cap Impact Equal Weight Index.

Grade (RS Rating)

Last Trade

$40.16

Average Daily Volume

29,178

Number of Holdings ^*

485

* may have additional holdings in another (foreign) market

Performance

Period	ESML	ISMD
30 Days	8.75%	8.02%
60 Days	8.59%	6.56%
90 Days	9.69%	7.16%
12 Months	34.45%	31.91%

259 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in ISMD	Overlap
AAON	B	0.25%	0.24%	0.24%
AAT	B	0.07%	0.2%	0.07%
ABCB	B	0.11%	0.22%	0.11%
ABG	B	0.12%	0.21%	0.12%
ABM	B	0.09%	0.21%	0.09%
ACHC	F	0.09%	0.12%	0.09%
ACIW	B	0.16%	0.21%	0.16%
ADMA	B	0.06%	0.19%	0.06%
ADUS	D	0.05%	0.18%	0.05%
AEIS	B	0.17%	0.2%	0.17%
AGCO	D	0.13%	0.19%	0.13%
AGIO	C	0.06%	0.24%	0.06%
AGL	F	0.02%	0.08%	0.02%
AHH	D	0.04%	0.2%	0.04%
AIR	B	0.06%	0.2%	0.06%
AIT	A	0.13%	0.24%	0.13%
ALRM	C	0.05%	0.22%	0.05%
ALSN	B	0.26%	0.24%	0.24%
AMED	F	0.09%	0.18%	0.09%
ANDE	D	0.06%	0.19%	0.06%
ARQT	C	0.05%	0.2%	0.05%
ARW	D	0.09%	0.17%	0.09%
ATI	D	0.14%	0.17%	0.14%
AWI	A	0.23%	0.23%	0.23%
AWR	B	0.05%	0.2%	0.05%
AXL	C	0.05%	0.2%	0.05%
BC	C	0.07%	0.19%	0.07%
BCPC	B	0.13%	0.2%	0.13%
BDC	B	0.2%	0.2%	0.2%
BDN	C	0.07%	0.19%	0.07%
BHE	B	0.16%	0.21%	0.16%
BKU	A	0.06%	0.22%	0.06%
BLKB	B	0.12%	0.19%	0.12%
BMI	B	0.3%	0.19%	0.19%
BRC	D	0.09%	0.19%	0.09%
CABO	C	0.13%	0.22%	0.13%
CAC	B	0.1%	0.22%	0.1%
CAKE	C	0.06%	0.23%	0.06%
CALM	A	0.06%	0.24%	0.06%
CALX	D	0.05%	0.15%	0.05%
CAR	C	0.06%	0.23%	0.06%
CBT	C	0.13%	0.19%	0.13%
CBU	B	0.06%	0.23%	0.06%
CBZ	B	0.06%	0.22%	0.06%
CC	C	0.05%	0.18%	0.05%
CDE	D	0.05%	0.18%	0.05%
CECO	A	0.05%	0.19%	0.05%
CGNX	C	0.1%	0.19%	0.1%
CLNE	D	0.06%	0.17%	0.06%
CLW	F	0.04%	0.17%	0.04%
CMC	B	0.22%	0.21%	0.21%
CMCO	B	0.06%	0.2%	0.06%
CMP	C	0.06%	0.24%	0.06%
CNK	B	0.09%	0.22%	0.09%
COUR	F	0.04%	0.17%	0.04%
CPK	A	0.13%	0.2%	0.13%
CRUS	D	0.15%	0.16%	0.15%
CRVL	A	0.09%	0.21%	0.09%
CSGS	B	0.11%	0.22%	0.11%
CSTL	D	0.05%	0.19%	0.05%
CUBI	C	0.05%	0.23%	0.05%
CVLT	B	0.22%	0.22%	0.22%
CYTK	F	0.13%	0.19%	0.13%
DAR	C	0.19%	0.23%	0.19%
DCO	C	0.06%	0.2%	0.06%
DEI	B	0.02%	0.21%	0.02%
DFIN	D	0.12%	0.18%	0.12%
DGII	B	0.05%	0.22%	0.05%
DNOW	B	0.05%	0.22%	0.05%
ECPG	B	0.11%	0.2%	0.11%
EMBC	C	0.05%	0.2%	0.05%
ENR	B	0.07%	0.21%	0.07%
EPC	D	0.04%	0.19%	0.04%
ERII	D	0.1%	0.21%	0.1%
ESE	B	0.09%	0.22%	0.09%
ESNT	D	0.07%	0.17%	0.07%
ESRT	C	0.07%	0.19%	0.07%
ETNB	C	0.05%	0.21%	0.05%
EXLS	B	0.23%	0.23%	0.23%
EXPO	D	0.06%	0.17%	0.06%
EYE	C	0.06%	0.2%	0.06%
FELE	B	0.22%	0.2%	0.2%
FFBC	A	0.05%	0.23%	0.05%
FFIN	B	0.06%	0.22%	0.06%
FHN	A	0.23%	0.26%	0.23%
FIBK	A	0.15%	0.21%	0.15%
FLO	D	0.04%	0.18%	0.04%
FNA	C	0.06%	0.29%	0.06%
FORM	D	0.04%	0.16%	0.04%
FOXF	F	0.04%	0.15%	0.04%
FR	C	0.09%	0.18%	0.09%
FUL	F	0.1%	0.19%	0.1%
FULT	A	0.12%	0.23%	0.12%
GBCI	B	0.3%	0.24%	0.24%
GERN	D	0.05%	0.16%	0.05%
GKOS	B	0.18%	0.21%	0.18%
GPRE	F	0.04%	0.16%	0.04%
GRBK	D	0.04%	0.16%	0.04%
GT	C	0.07%	0.21%	0.07%
GTLS	B	0.14%	0.26%	0.14%
HAE	C	0.12%	0.22%	0.12%
HAIN	C	0.05%	0.16%	0.05%
HBI	B	0.07%	0.22%	0.07%
HELE	C	0.06%	0.21%	0.06%
HI	C	0.07%	0.23%	0.07%
HIW	D	0.13%	0.19%	0.13%
HL	D	0.04%	0.16%	0.04%
HLIT	D	0.05%	0.16%	0.05%
HNI	B	0.15%	0.2%	0.15%
HPP	F	0.04%	0.15%	0.04%
HQY	B	0.16%	0.24%	0.16%
HWKN	B	0.07%	0.19%	0.07%
HXL	D	0.14%	0.19%	0.14%
IART	C	0.05%	0.25%	0.05%
IBOC	A	0.06%	0.23%	0.06%
IBP	D	0.09%	0.16%	0.09%
ICFI	F	0.08%	0.16%	0.08%
ICUI	D	0.08%	0.18%	0.08%
IDCC	A	0.14%	0.25%	0.14%
INFN	C	0.05%	0.19%	0.05%
IOSP	B	0.08%	0.21%	0.08%
IRDM	D	0.12%	0.18%	0.12%
ITCI	C	0.15%	0.22%	0.15%
ITRI	B	0.2%	0.21%	0.2%
JBGS	D	0.05%	0.17%	0.05%
JBT	B	0.08%	0.23%	0.08%
JELD	F	0.03%	0.13%	0.03%
KAR	B	0.11%	0.23%	0.11%
KBH	D	0.2%	0.18%	0.18%
KBR	F	0.35%	0.18%	0.18%
KE	C	0.06%	0.2%	0.06%
KMPR	B	0.05%	0.23%	0.05%
KRC	C	0.11%	0.2%	0.11%
LAD	A	0.22%	0.23%	0.22%
LEA	D	0.1%	0.17%	0.1%
LITE	B	0.1%	0.25%	0.1%
LNN	B	0.08%	0.19%	0.08%
LOPE	B	0.05%	0.22%	0.05%
LPX	B	0.17%	0.2%	0.17%
LSCC	D	0.15%	0.18%	0.15%
LSTR	D	0.21%	0.19%	0.19%
LXP	D	0.06%	0.18%	0.06%
MAC	B	0.08%	0.21%	0.08%
MDU	D	0.18%	0.13%	0.13%
MGRC	B	0.09%	0.22%	0.09%
MHO	D	0.05%	0.18%	0.05%
MKSI	C	0.14%	0.19%	0.14%
MMI	B	0.05%	0.2%	0.05%
MMS	F	0.04%	0.17%	0.04%
MNRO	D	0.05%	0.2%	0.05%
MOD	A	0.15%	0.18%	0.15%
MPW	F	0.05%	0.14%	0.05%
MTG	C	0.23%	0.19%	0.19%
MTH	D	0.17%	0.17%	0.17%
MTRN	C	0.06%	0.2%	0.06%
MTUS	C	0.04%	0.19%	0.04%
MTX	B	0.12%	0.21%	0.12%
MXL	C	0.05%	0.19%	0.05%
MYGN	F	0.03%	0.11%	0.03%
MYRG	B	0.16%	0.28%	0.16%
NBTB	B	0.06%	0.22%	0.06%
NEO	C	0.05%	0.2%	0.05%
NEOG	F	0.04%	0.17%	0.04%
NFG	A	0.2%	0.2%	0.2%
NJR	A	0.21%	0.2%	0.2%
NMIH	D	0.09%	0.18%	0.09%
NPO	A	0.13%	0.2%	0.13%
NWL	B	0.1%	0.23%	0.1%
OGS	A	0.31%	0.2%	0.2%
OII	B	0.06%	0.21%	0.06%
OLLI	D	0.12%	0.19%	0.12%
OMCL	C	0.05%	0.21%	0.05%
OMI	F	0.04%	0.15%	0.04%
ORA	B	0.11%	0.2%	0.11%
PAR	B	0.07%	0.27%	0.07%
PDFS	C	0.05%	0.19%	0.05%
PDM	D	0.06%	0.18%	0.06%
PEGA	A	0.11%	0.23%	0.11%
PI	D	0.07%	0.16%	0.07%
PINC	B	0.14%	0.22%	0.14%
PLUS	F	0.06%	0.16%	0.06%
PLXS	B	0.17%	0.22%	0.17%
PLYA	B	0.08%	0.24%	0.08%
POST	C	0.09%	0.18%	0.09%
POWI	D	0.06%	0.18%	0.06%
PRGS	A	0.24%	0.19%	0.19%
PRIM	A	0.14%	0.26%	0.14%
PRO	C	0.06%	0.24%	0.06%
PTCT	B	0.06%	0.21%	0.06%
PTGX	C	0.05%	0.18%	0.05%
QTWO	A	0.12%	0.24%	0.12%
R	B	0.29%	0.22%	0.22%
RDNT	B	0.1%	0.23%	0.1%
RHP	B	0.19%	0.2%	0.19%
RLI	B	0.2%	0.22%	0.2%
RNST	B	0.08%	0.22%	0.08%
ROCK	C	0.06%	0.2%	0.06%
ROG	D	0.07%	0.18%	0.07%
RUSHA	C	0.05%	0.23%	0.05%
RYN	D	0.05%	0.18%	0.05%
SASR	B	0.08%	0.24%	0.08%
SATS	D	0.06%	0.18%	0.06%
SBRA	C	0.08%	0.19%	0.08%
SCL	C	0.1%	0.19%	0.1%
SEM	B	0.07%	0.21%	0.07%
SFBS	B	0.06%	0.23%	0.06%
SKT	B	0.07%	0.21%	0.07%
SLAB	D	0.09%	0.17%	0.09%
SM	B	0.06%	0.21%	0.06%
SMP	B	0.05%	0.2%	0.05%
SMTC	B	0.06%	0.19%	0.06%
SNDX	F	0.04%	0.16%	0.04%
SNV	B	0.3%	0.25%	0.25%
SPR	D	0.05%	0.19%	0.05%
SPSC	C	0.16%	0.18%	0.16%
SR	A	0.14%	0.2%	0.14%
SSD	D	0.1%	0.19%	0.1%
SUM	B	0.28%	0.24%	0.24%
SWX	B	0.13%	0.2%	0.13%
SXT	B	0.07%	0.19%	0.07%
TDOC	C	0.06%	0.2%	0.06%
TDS	B	0.08%	0.26%	0.08%
THO	B	0.12%	0.2%	0.12%
THRM	D	0.05%	0.18%	0.05%
TILE	B	0.08%	0.26%	0.08%
TMHC	B	0.17%	0.2%	0.17%
TNC	D	0.05%	0.18%	0.05%
TPH	D	0.14%	0.18%	0.14%
TREX	C	0.07%	0.2%	0.07%
TRN	C	0.1%	0.21%	0.1%
UBSI	B	0.17%	0.22%	0.17%
UCB	A	0.04%	0.22%	0.04%
UFPT	B	0.05%	0.18%	0.05%
UMBF	B	0.27%	0.23%	0.23%
UNIT	B	0.08%	0.19%	0.08%
UPBD	B	0.06%	0.2%	0.06%
VAC	B	0.08%	0.24%	0.08%
VC	D	0.1%	0.19%	0.1%
VECO	F	0.1%	0.16%	0.1%
VITL	D	0.05%	0.16%	0.05%
VKTX	F	0.11%	0.15%	0.11%
VLY	B	0.15%	0.22%	0.15%
VMI	B	0.13%	0.23%	0.13%
VRNS	D	0.06%	0.18%	0.06%
VSAT	F	0.02%	0.12%	0.02%
VVV	F	0.17%	0.2%	0.17%
VYX	B	0.05%	0.2%	0.05%
WBS	A	0.27%	0.25%	0.25%
WCC	B	0.24%	0.24%	0.24%
WDFC	B	0.11%	0.21%	0.11%
WERN	C	0.12%	0.2%	0.12%
WEX	D	0.25%	0.17%	0.17%
WKC	D	0.05%	0.18%	0.05%
WNC	C	0.05%	0.2%	0.05%
WOLF	F	0.03%	0.14%	0.03%
WTFC	A	0.07%	0.24%	0.07%
WTS	B	0.21%	0.2%	0.2%
XHR	B	0.07%	0.2%	0.07%
ZION	B	0.2%	0.25%	0.2%

ESML Overweight 645 Positions Relative to ISMD

Symbol	Grade	Weight
CASY	A	0.52%
JHG	A	0.51%
USFD	A	0.49%
CVNA	B	0.48%
SFM	A	0.43%
GWRE	A	0.43%
INGR	B	0.42%
EWBC	A	0.4%
FIX	A	0.38%
NTNX	A	0.36%
FTI	A	0.35%
AYI	B	0.34%
JLL	D	0.34%
MUSA	A	0.34%
FLEX	A	0.33%
XPO	B	0.33%
IBKR	A	0.32%
FRT	B	0.31%
REXR	F	0.31%
NTRA	B	0.31%
OSK	B	0.3%
BWXT	B	0.3%
RGA	A	0.3%
PNFP	B	0.3%
SIGI	C	0.29%
TPR	B	0.29%
EHC	B	0.29%
RGLD	C	0.29%
CNX	A	0.28%
DTM	B	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%
SSB	B	0.27%
AXTA	A	0.27%
BLD	D	0.26%
GPK	C	0.26%
MWA	B	0.25%
UNM	A	0.25%
DCI	B	0.25%
RRC	B	0.25%
BJ	A	0.25%
FTAI	B	0.24%
UGI	A	0.24%
RNR	C	0.24%
MOG.A	B	0.24%
IVZ	B	0.24%
ATR	B	0.24%
HRI	B	0.24%
NCLH	B	0.24%
REZI	A	0.23%
AFRM	B	0.23%
CBSH	A	0.23%
ARMK	B	0.23%
PRI	A	0.23%
ALK	C	0.23%
CW	B	0.23%
THC	D	0.23%
SOFI	A	0.22%
FTDR	A	0.22%
CNM	D	0.22%
GNRC	B	0.22%
WAL	B	0.22%
AR	B	0.22%
EGP	F	0.21%
CDP	C	0.21%
CMA	A	0.21%
CACI	D	0.21%
WMS	D	0.21%
INSM	C	0.21%
PCVX	D	0.21%
ONTO	D	0.21%
CUZ	B	0.21%
RHI	B	0.21%
GME	C	0.21%
CNO	A	0.2%
HOG	D	0.2%
FND	C	0.2%
LECO	B	0.2%
KNSL	B	0.2%
WHR	B	0.2%
FBP	B	0.2%
PLNT	A	0.2%
TGNA	B	0.2%
MTN	C	0.2%
CUBE	D	0.2%
OMF	A	0.2%
PCTY	B	0.2%
BHLB	B	0.2%
ENSG	D	0.2%
HHH	B	0.2%
WK	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	B	0.19%
FCN	D	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%
FRPT	B	0.19%
GPI	A	0.19%
AA	B	0.19%
NOVT	D	0.19%
WWD	B	0.19%
CR	A	0.19%
NVT	B	0.19%
BANR	B	0.18%
SF	B	0.18%
SRPT	D	0.18%
NYT	C	0.18%
BWA	D	0.18%
SPXC	A	0.18%
THG	A	0.18%
KNTK	B	0.18%
MORN	B	0.18%
DUOL	A	0.18%
EPRT	B	0.18%
VFC	C	0.18%
ENLC	A	0.18%
LAZ	B	0.17%
CHX	C	0.17%
BERY	B	0.17%
FN	D	0.17%
PCH	D	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
ASB	B	0.17%
MSA	D	0.17%
GATX	A	0.17%
WSC	D	0.17%
MTZ	B	0.17%
KTB	B	0.16%
DLB	B	0.16%
RGEN	D	0.16%
BRX	A	0.16%
DBX	B	0.16%
TTEK	F	0.16%
FAF	A	0.16%
EAT	A	0.16%
TNL	A	0.16%
TKO	B	0.16%
SLM	A	0.16%
BCC	B	0.16%
JAZZ	B	0.16%
SITE	D	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%
ECG	C	0.15%
CADE	B	0.15%
WH	B	0.15%
MEDP	D	0.15%
CROX	D	0.15%
CPF	A	0.15%
MMSI	B	0.15%
FSS	B	0.15%
ANF	C	0.15%
AM	A	0.15%
VNT	B	0.15%
CRS	A	0.15%
NOV	C	0.15%
RRX	B	0.15%
WFRD	D	0.15%
GTLB	B	0.15%
OZK	B	0.14%
BECN	B	0.14%
X	C	0.14%
CHDN	B	0.14%
ESI	A	0.14%
LFUS	F	0.14%
CHE	D	0.14%
RYAN	B	0.14%
SMAR	A	0.14%
ACA	A	0.14%
ALTR	B	0.14%
RMBS	C	0.14%
IBCP	B	0.14%
BILL	A	0.14%
ASGN	F	0.14%
TPX	B	0.14%
CZR	F	0.14%
JXN	C	0.14%
FMC	D	0.14%
NSIT	F	0.13%
AVAV	D	0.13%
M	D	0.13%
HESM	B	0.13%
BRKR	D	0.13%
EPAC	B	0.13%
CAVA	B	0.13%
MAT	D	0.13%
STRL	B	0.13%
PDCO	D	0.13%
FYBR	D	0.13%
LRN	A	0.13%
ORI	A	0.13%
KNF	A	0.13%
KLIC	B	0.13%
ITGR	B	0.13%
AZEK	A	0.13%
MUR	D	0.13%
BOX	B	0.13%
WTM	A	0.13%
ELF	C	0.13%
COLB	A	0.13%
CVBF	A	0.12%
AGNC	D	0.12%
EVR	B	0.12%
YETI	C	0.12%
KOS	F	0.12%
RKLB	B	0.12%
WGO	C	0.12%
WHD	B	0.12%
S	B	0.12%
GL	B	0.12%
CRDO	B	0.12%
ADT	C	0.12%
GAP	C	0.12%
PATH	C	0.11%
TXRH	C	0.11%
JEF	A	0.11%
DXC	B	0.11%
GMED	A	0.11%
AUB	B	0.11%
LYFT	C	0.11%
XENE	D	0.11%
SHOO	D	0.11%
CRNX	C	0.11%
APPF	B	0.11%
EFSC	B	0.11%
SON	D	0.11%
ADC	B	0.11%
MRCY	B	0.11%
HALO	F	0.11%
LBRDA	C	0.11%
RXO	C	0.1%
CFR	B	0.1%
TDC	D	0.1%
HASI	D	0.1%
PJT	A	0.1%
AROC	B	0.1%
RVMD	C	0.1%
HCP	B	0.1%
BRBR	A	0.1%
TENB	C	0.1%
ALKS	B	0.1%
FA	C	0.1%
DV	C	0.1%
STWD	C	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	B	0.1%
PFSI	D	0.1%
FLR	B	0.1%
TRNO	F	0.1%
AL	B	0.1%
RDUS	C	0.1%
CCOI	B	0.1%
KD	B	0.1%
SIG	B	0.1%
AMAL	B	0.1%
LCII	C	0.1%
ALTM	C	0.1%
PSN	D	0.1%
LNTH	D	0.1%
FIVE	F	0.1%
VNO	B	0.09%
OGN	D	0.09%
RNA	D	0.09%
UPST	B	0.09%
U	C	0.09%
KFY	B	0.09%
WEN	D	0.09%
SHAK	C	0.09%
RDN	C	0.09%
CURB	D	0.09%
ZI	D	0.09%
MTSI	B	0.09%
OPCH	D	0.09%
NXST	C	0.09%
RL	B	0.09%
SJW	D	0.09%
ATKR	C	0.09%
HWC	B	0.09%
MARA	C	0.09%
IMAX	B	0.09%
LNC	B	0.09%
POWL	C	0.09%
EVRI	A	0.08%
AVPT	A	0.08%
AMWD	C	0.08%
BXMT	C	0.08%
OLED	D	0.08%
KTOS	B	0.08%
KOP	C	0.08%
AUR	C	0.08%
EWTX	C	0.08%
BPMC	C	0.08%
IESC	B	0.08%
BL	B	0.08%
TBBK	B	0.08%
SPB	C	0.08%
ACLX	C	0.08%
SNX	C	0.08%
CRSP	D	0.08%
VSEC	C	0.08%
BPOP	B	0.08%
INTA	A	0.08%
ST	F	0.08%
ALG	B	0.08%
TNET	D	0.08%
PRVA	B	0.08%
LBPH	A	0.08%
TEX	D	0.08%
INDB	B	0.08%
CHWY	B	0.08%
INSP	D	0.08%
ENOV	C	0.08%
PIPR	B	0.08%
TARS	B	0.08%
PRKS	C	0.08%
BWIN	D	0.08%
AEO	F	0.08%
HR	C	0.08%
NTGR	B	0.08%
BOH	B	0.08%
STC	B	0.08%
PRCT	B	0.08%
DOCS	C	0.08%
GVA	A	0.08%
ZD	C	0.08%
PLMR	B	0.08%
MIR	A	0.08%
DEA	D	0.07%
EE	A	0.07%
GBX	A	0.07%
RARE	D	0.07%
LBRDK	C	0.07%
UEC	B	0.07%
CWEN	C	0.07%
WU	D	0.07%
HGV	B	0.07%
SEE	C	0.07%
PECO	A	0.07%
HAFC	A	0.07%
COLM	B	0.07%
VSCO	B	0.07%
CWK	B	0.07%
GTES	A	0.07%
VVX	C	0.07%
SONO	C	0.07%
AVNT	B	0.07%
PRGO	B	0.07%
ZYME	C	0.07%
ALHC	C	0.07%
AZTA	D	0.07%
HIMS	B	0.07%
MHK	D	0.07%
GH	B	0.07%
BROS	B	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
VCTR	B	0.07%
CTS	C	0.07%
WRBY	B	0.07%
AN	C	0.07%
CCCS	B	0.07%
NWN	A	0.07%
AZZ	B	0.07%
OUT	A	0.07%
UNFI	A	0.07%
ATGE	B	0.06%
VRRM	D	0.06%
WT	B	0.06%
SG	B	0.06%
AAP	C	0.06%
TMCI	D	0.06%
DLX	B	0.06%
CLSK	C	0.06%
IRON	B	0.06%
VERA	B	0.06%
RBBN	C	0.06%
VRTS	B	0.06%
PBF	D	0.06%
W	F	0.06%
MBUU	C	0.06%
PLAY	D	0.06%
AXSM	B	0.06%
MOV	C	0.06%
NRIX	D	0.06%
VRNT	C	0.06%
COKE	C	0.06%
JWN	C	0.06%
CHH	A	0.06%
TGTX	B	0.06%
CWAN	B	0.06%
EXP	A	0.06%
ATEN	B	0.06%
CLH	B	0.06%
PNTG	D	0.06%
MGNI	A	0.06%
AGO	B	0.06%
RUSHB	B	0.06%
KROS	D	0.06%
FL	F	0.06%
VREX	C	0.06%
FROG	C	0.06%
PYCR	C	0.06%
VBTX	B	0.06%
PEB	D	0.06%
CART	C	0.06%
BOOT	D	0.06%
OWL	A	0.06%
NVST	B	0.06%
PPBI	B	0.06%
ACVA	B	0.06%
RCM	F	0.06%
ROIV	C	0.06%
FLYW	C	0.06%
APG	B	0.06%
IDYA	F	0.06%
HURN	B	0.06%
PK	B	0.06%
CLB	B	0.06%
MNKD	C	0.06%
CCS	D	0.06%
TALO	C	0.06%
TGI	B	0.06%
BYD	C	0.06%
AVDX	B	0.06%
VNOM	A	0.06%
FRSH	C	0.06%
ENV	B	0.06%
FUN	C	0.06%
KREF	D	0.06%
CLF	F	0.06%
MRUS	F	0.06%
FOUR	B	0.06%
MAN	D	0.06%
VRDN	D	0.06%
VERX	B	0.06%
PAHC	C	0.06%
MASI	A	0.06%
WD	D	0.06%
RH	B	0.06%
VVI	C	0.06%
COMP	B	0.06%
PAYO	A	0.06%
BANC	A	0.06%
NARI	C	0.06%
SWTX	C	0.05%
KLG	C	0.05%
RXST	F	0.05%
EWCZ	F	0.05%
TWST	D	0.05%
HZO	D	0.05%
BNL	D	0.05%
ARVN	D	0.05%
PBI	B	0.05%
NUVB	C	0.05%
ZEUS	C	0.05%
HLX	B	0.05%
IONS	F	0.05%
PLOW	D	0.05%
DOCN	D	0.05%
ARKO	C	0.05%
SHC	F	0.05%
LEVI	F	0.05%
ICHR	C	0.05%
FTRE	D	0.05%
INFA	D	0.05%
CPRX	C	0.05%
APGE	F	0.05%
CNMD	C	0.05%
VSTS	C	0.05%
FLG	C	0.05%
ARCB	C	0.05%
CLVT	F	0.05%
XRAY	F	0.05%
GOGO	C	0.05%
PSMT	C	0.05%
ACEL	C	0.05%
BASE	C	0.05%
MLTX	B	0.05%
SLNO	B	0.05%
INVX	C	0.05%
PENN	C	0.05%
ASAN	C	0.05%
MLNK	B	0.05%
MODG	F	0.05%
AI	B	0.05%
KSS	F	0.05%
AMBC	C	0.05%
BEAM	D	0.05%
XPEL	C	0.05%
PFS	B	0.05%
PGRE	F	0.05%
EDR	A	0.05%
RUN	F	0.05%
REVG	B	0.05%
PRAA	C	0.05%
MRC	B	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%
SLVM	B	0.05%
XPRO	F	0.05%
RAMP	C	0.05%
ZUO	B	0.05%
HCC	B	0.05%
BGC	C	0.05%
JANX	C	0.05%
PRG	C	0.05%
GEF	A	0.05%
TMDX	F	0.05%
SKY	A	0.05%
BE	B	0.05%
LIVN	F	0.05%
AORT	B	0.05%
SMPL	B	0.05%
SBH	C	0.05%
EPR	D	0.05%
MDGL	B	0.05%
ASTE	B	0.05%
ARWR	F	0.05%
KVYO	C	0.05%
RNG	B	0.05%
GEF	A	0.05%
NUVL	D	0.05%
LEG	F	0.05%
YELP	C	0.05%
UAA	C	0.05%
NCNO	B	0.05%
COOP	B	0.05%
COLD	D	0.05%
NBHC	B	0.05%
AGYS	A	0.05%
ALKT	B	0.05%
PD	C	0.05%
CIVI	D	0.05%
CRAI	B	0.05%
RCKT	F	0.04%
BKD	D	0.04%
CAL	D	0.04%
HOUS	D	0.04%
FLGT	F	0.04%
NEP	F	0.04%
KURA	F	0.04%
XRX	F	0.04%
CRI	D	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%
SPT	C	0.04%
JAMF	F	0.04%
ARCT	F	0.04%
CXM	C	0.04%
TNDM	F	0.04%
CGEM	F	0.04%
SAVA	D	0.04%
LESL	C	0.04%
SIBN	F	0.04%
MLKN	D	0.04%
IMVT	F	0.04%
RCUS	F	0.04%
NABL	F	0.04%
AMN	F	0.04%
OSCR	D	0.04%
AMC	C	0.04%
ASH	D	0.04%
PLUG	F	0.04%
DYN	F	0.04%
PLRX	F	0.04%
BBIO	F	0.04%
DK	C	0.04%
QDEL	F	0.04%
ARLO	C	0.04%
ALEC	F	0.04%
PTEN	C	0.04%
NVCR	C	0.04%
MEI	D	0.04%
IVR	F	0.04%
BRZE	C	0.04%
LGF.A	C	0.04%
CWT	D	0.04%
THS	D	0.04%
KRYS	B	0.04%
RXRX	F	0.04%
TROX	D	0.04%
COGT	D	0.04%
RKT	F	0.04%
NVAX	F	0.03%
ANAB	F	0.03%
MEG	F	0.03%
TXG	F	0.03%
SITC	D	0.03%
CNXC	F	0.03%
CDNA	D	0.03%
SVRA	D	0.03%
PHAT	F	0.03%
CRMT	C	0.03%
APLS	D	0.03%
CCRN	F	0.03%
CPRI	F	0.03%
ETWO	F	0.03%
BRY	F	0.03%
MQ	F	0.03%
STAA	F	0.03%
KELYA	F	0.03%
MC	C	0.02%
NOVA	F	0.02%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	D	0.01%
MAGN	F	0.01%

ESML Underweight 226 Positions Relative to ISMD

Symbol	Grade	Weight
GSAT	C	-0.29%
ALGT	B	-0.28%
ANET	C	-0.28%
ATSG	B	-0.27%
EXEL	B	-0.26%
AGX	B	-0.26%
TRUP	B	-0.25%
TTMI	B	-0.25%
EGBN	B	-0.25%
WSBC	A	-0.24%
ENVA	B	-0.24%
AMSF	B	-0.24%
UTI	A	-0.24%
TTI	C	-0.24%
WTTR	B	-0.24%
TCBI	B	-0.24%
SMBK	B	-0.24%
PB	A	-0.23%
MGEE	C	-0.23%
XNCR	B	-0.23%
HSII	B	-0.23%
WABC	B	-0.23%
BANF	B	-0.23%
OFIX	B	-0.23%
MCY	A	-0.23%
KAI	A	-0.23%
BY	B	-0.23%
RBCAA	B	-0.23%
FRME	B	-0.23%
OPY	B	-0.23%
FNB	A	-0.23%
PEBO	A	-0.23%
CTLP	B	-0.23%
NGVT	B	-0.23%
NWPX	A	-0.23%
HMN	B	-0.23%
TTGT	C	-0.23%
HBNC	B	-0.23%
FBK	B	-0.23%
AIOT	B	-0.23%
SAH	A	-0.22%
KMT	B	-0.22%
NWBI	B	-0.22%
AGM	C	-0.22%
EIG	B	-0.22%
HLF	C	-0.22%
ROIC	A	-0.22%
PCRX	C	-0.22%
FSBC	B	-0.22%
GMS	B	-0.22%
NGVC	A	-0.22%
SXI	B	-0.22%
MCBS	B	-0.22%
TFSL	A	-0.22%
CHCO	B	-0.22%
DDS	B	-0.22%
LAUR	A	-0.22%
CARS	B	-0.22%
NBR	C	-0.22%
PRA	C	-0.22%
MBWM	B	-0.22%
DAKT	B	-0.22%
LKFN	B	-0.22%
MATX	C	-0.22%
GHC	C	-0.22%
QLYS	C	-0.22%
SFNC	B	-0.22%
IDA	A	-0.22%
HOMB	A	-0.22%
PBH	A	-0.22%
G	B	-0.22%
GRC	A	-0.21%
RLJ	C	-0.21%
CNS	B	-0.21%
HLIO	B	-0.21%
AKR	B	-0.21%
OGE	B	-0.21%
GFF	A	-0.21%
VCYT	B	-0.21%
DHIL	A	-0.21%
PNM	F	-0.21%
HE	C	-0.21%
ACCO	C	-0.21%
TOWN	B	-0.21%
IBUY	A	-0.21%
GNW	A	-0.21%
SBSI	B	-0.21%
SLRC	A	-0.21%
RSVR	A	-0.21%
HOPE	B	-0.21%
RYAM	C	-0.21%
NX	C	-0.21%
IBTX	B	-0.21%
SRCE	B	-0.21%
CCBG	B	-0.21%
HSTM	B	-0.21%
HUBG	A	-0.21%
FCF	A	-0.21%
OSIS	B	-0.2%
HTLD	B	-0.2%
HTH	B	-0.2%
OEC	C	-0.2%
KWR	C	-0.2%
NEU	C	-0.2%
LZB	B	-0.2%
SRDX	B	-0.2%
LMNR	B	-0.2%
TRS	B	-0.2%
NHC	C	-0.2%
PUBM	C	-0.2%
PARR	D	-0.2%
ALE	A	-0.2%
NTCT	C	-0.2%
ALEX	C	-0.2%
KN	B	-0.2%
STBA	B	-0.2%
EQC	B	-0.2%
DMRC	C	-0.2%
LOB	B	-0.2%
CENT	C	-0.2%
FMNB	B	-0.2%
DRH	B	-0.2%
KRG	B	-0.2%
BUSE	B	-0.2%
SCSC	B	-0.2%
GNTX	C	-0.2%
VRE	B	-0.2%
SLGN	A	-0.2%
IRWD	F	-0.2%
LANC	C	-0.2%
IRT	A	-0.2%
BKH	A	-0.2%
MSEX	B	-0.2%
CHCT	C	-0.2%
NUS	D	-0.2%
MATW	C	-0.2%
KNX	B	-0.2%
NXRT	B	-0.2%
CODI	B	-0.2%
SAFT	C	-0.2%
ENS	D	-0.19%
SCWX	B	-0.19%
KFRC	D	-0.19%
PLSE	C	-0.19%
CVGW	D	-0.19%
AIV	C	-0.19%
PLAB	C	-0.19%
JACK	D	-0.19%
NMFC	D	-0.19%
FCPT	C	-0.19%
IPAR	B	-0.19%
HTGC	D	-0.19%
NNI	D	-0.19%
ALRS	D	-0.19%
COHU	C	-0.19%
UMH	C	-0.19%
FWRD	D	-0.19%
ASIX	A	-0.19%
UTL	B	-0.19%
CCO	C	-0.19%
CTRE	D	-0.19%
ACRE	C	-0.19%
ARI	C	-0.19%
UNF	B	-0.19%
IPGP	D	-0.19%
WRLD	C	-0.19%
PUMP	B	-0.19%
ALX	D	-0.18%
TKR	D	-0.18%
ATEX	D	-0.18%
RES	D	-0.18%
AIN	C	-0.18%
PATK	D	-0.18%
ACCD	D	-0.18%
FOLD	F	-0.18%
ADV	D	-0.18%
ETD	C	-0.18%
GNK	D	-0.18%
RWT	D	-0.18%
PMT	D	-0.18%
SHEN	F	-0.18%
NHI	D	-0.18%
BCRX	D	-0.18%
ELME	D	-0.18%
NVEE	F	-0.18%
BFS	C	-0.18%
HCAT	D	-0.18%
JJSF	B	-0.18%
MYE	F	-0.17%
LSEA	D	-0.17%
JOE	F	-0.17%
CYRX	F	-0.17%
SKYT	D	-0.17%
PZZA	D	-0.17%
JBSS	D	-0.17%
LGIH	D	-0.17%
OXM	D	-0.17%
BCO	D	-0.16%
PHR	F	-0.16%
PII	D	-0.16%
RVNC	F	-0.16%
SPTN	D	-0.16%
VSH	D	-0.16%
CHPT	F	-0.16%
HVT	D	-0.16%
AMKR	D	-0.16%
PSEC	D	-0.16%
DIOD	D	-0.16%
GRPN	F	-0.16%
NSP	D	-0.16%
HY	D	-0.16%
NRC	F	-0.16%
AEHR	F	-0.16%
LPG	F	-0.15%
BLBD	D	-0.15%
DAN	D	-0.15%
SCHL	D	-0.15%
SAGE	F	-0.14%
TDW	F	-0.14%
SGRY	F	-0.14%
ARDX	F	-0.14%
ANGI	D	-0.13%
AMRC	F	-0.13%
SNBR	F	-0.13%
COMM	D	-0.13%
DHC	F	-0.12%