ESML vs. QARP ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Xtrackers Russell 1000 US QARP ETF (QARP)

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

$41.61

Average Daily Volume

109,653

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

QARP

Xtrackers Russell 1000 US QARP ETF

QARP Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the Russell 1000 2Qual/Val 5% Capped Factor Index (the "underlying index"). The fund will invest at least 80% of its total assets (but typically far more) in component securities of the underlying index. The underlying index is designed to track the equity market performance of companies in the United States selected on the investment style criteria ("factors") of quality and value. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.28

Average Daily Volume

12,931

Number of Holdings ^*

344

* may have additional holdings in another (foreign) market

Performance

Period	ESML	QARP
30 Days	3.88%	3.25%
60 Days	9.57%	9.83%
90 Days	9.72%	5.84%
12 Months	29.14%	29.11%

60 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in QARP	Overlap
AGCO	D	0.15%	0.06%	0.06%
ALK	C	0.21%	0.04%	0.04%
ALSN	A	0.22%	0.03%	0.03%
AMG	B	0.18%	0.09%	0.09%
AR	C	0.21%	0.02%	0.02%
ARMK	C	0.24%	0.04%	0.04%
AYI	A	0.29%	0.07%	0.07%
BJ	B	0.25%	0.1%	0.1%
BLD	D	0.3%	0.05%	0.05%
BWA	C	0.19%	0.07%	0.07%
CASY	D	0.5%	0.12%	0.12%
CHE	D	0.15%	0.04%	0.04%
CLF	D	0.07%	0.06%	0.06%
CNM	F	0.25%	0.04%	0.04%
COKE	C	0.06%	0.04%	0.04%
CROX	C	0.23%	0.04%	0.04%
CRUS	D	0.18%	0.03%	0.03%
DBX	C	0.15%	0.04%	0.04%
DCI	B	0.25%	0.04%	0.04%
EVR	C	0.1%	0.1%	0.1%
EXP	C	0.06%	0.05%	0.05%
FCN	C	0.23%	0.03%	0.03%
FIVE	D	0.12%	0.02%	0.02%
FIX	A	0.36%	0.04%	0.04%
FND	C	0.24%	0.05%	0.05%
GAP	F	0.12%	0.03%	0.03%
HRB	C	0.21%	0.09%	0.09%
INGR	B	0.41%	0.04%	0.04%
ITT	C	0.3%	0.05%	0.05%
JHG	A	0.45%	0.02%	0.02%
KNSL	B	0.2%	0.04%	0.04%
LEA	F	0.13%	0.05%	0.05%
LECO	D	0.19%	0.04%	0.04%
LOPE	D	0.05%	0.03%	0.03%
LPX	C	0.17%	0.04%	0.04%
LSTR	F	0.22%	0.05%	0.05%
M	D	0.13%	0.02%	0.02%
MEDP	F	0.15%	0.03%	0.03%
MHK	C	0.08%	0.03%	0.03%
MTG	A	0.25%	0.11%	0.11%
MTZ	A	0.16%	0.02%	0.02%
MUSA	D	0.34%	0.05%	0.05%
NYT	C	0.19%	0.04%	0.04%
OSK	F	0.28%	0.03%	0.03%
PINC	F	0.12%	0.02%	0.02%
PVH	D	0.16%	0.03%	0.03%
RHI	D	0.2%	0.06%	0.06%
RL	B	0.09%	0.05%	0.05%
RLI	A	0.19%	0.02%	0.02%
RNR	A	0.26%	0.06%	0.06%
SAIA	D	0.24%	0.04%	0.04%
SSD	B	0.11%	0.03%	0.03%
THO	C	0.13%	0.03%	0.03%
TOL	C	0.27%	0.07%	0.07%
TPR	B	0.25%	0.1%	0.1%
TTEK	A	0.19%	0.03%	0.03%
TXRH	A	0.1%	0.05%	0.05%
USFD	C	0.49%	0.04%	0.04%
VVV	D	0.18%	0.03%	0.03%
X	F	0.14%	0.03%	0.03%

ESML Overweight 844 Positions Relative to QARP

Symbol	Grade	Weight
GWRE	A	0.41%
KBR	A	0.4%
REXR	D	0.39%
JLL	C	0.38%
CVNA	A	0.36%
SFM	A	0.35%
OGS	C	0.33%
NTNX	C	0.33%
EWBC	B	0.33%
FTI	B	0.33%
RGLD	C	0.32%
FRT	D	0.32%
BMI	A	0.31%
FLEX	B	0.31%
WEX	C	0.3%
MDU	C	0.3%
ONTO	B	0.3%
RGA	B	0.3%
GPK	D	0.29%
AVT	B	0.29%
EHC	C	0.29%
SIGI	D	0.28%
BFAM	C	0.28%
WMS	D	0.27%
PCVX	C	0.27%
UGI	C	0.27%
R	C	0.27%
COHR	B	0.27%
AXTA	C	0.26%
SCI	D	0.26%
XPO	F	0.26%
BWXT	A	0.26%
IBKR	A	0.26%
NTRA	A	0.26%
PNFP	B	0.25%
GBCI	B	0.25%
THC	D	0.25%
SNV	D	0.25%
WING	C	0.25%
IVZ	A	0.25%
SSB	C	0.25%
SWN	D	0.24%
UMBF	C	0.24%
RRC	D	0.24%
PRGS	A	0.24%
HOG	D	0.24%
FELE	C	0.23%
MWA	A	0.23%
INSM	D	0.23%
KBH	D	0.23%
DTM	A	0.23%
CNX	A	0.23%
MOG.A	C	0.23%
ATR	A	0.23%
SUM	F	0.23%
EGP	D	0.23%
CUBE	C	0.23%
CUZ	C	0.22%
WBS	D	0.22%
PRI	A	0.22%
NJR	C	0.22%
CW	A	0.22%
CDP	A	0.22%
CACI	A	0.22%
MTN	D	0.22%
HAS	A	0.22%
WCC	D	0.21%
CVLT	B	0.21%
NFG	A	0.21%
AWI	A	0.21%
UNM	A	0.21%
NOVT	C	0.21%
SRPT	F	0.21%
AAON	A	0.21%
CMC	D	0.21%
WAL	C	0.21%
WTS	C	0.21%
ENSG	D	0.21%
WHR	C	0.2%
NVT	C	0.2%
FTDR	B	0.2%
RHP	B	0.2%
LNW	F	0.2%
FBP	B	0.2%
EPRT	C	0.2%
FTAI	A	0.2%
WWD	C	0.2%
AVA	D	0.2%
WSC	D	0.2%
BDC	A	0.2%
NCLH	C	0.2%
HHH	C	0.2%
CBSH	D	0.2%
EXLS	B	0.2%
OHI	C	0.2%
CMA	C	0.19%
MSA	F	0.19%
CR	A	0.19%
AFRM	C	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%
LAD	C	0.19%
AA	B	0.19%
ZWS	A	0.19%
MORN	B	0.18%
CIEN	A	0.18%
ATI	C	0.18%
MOD	B	0.18%
TKO	A	0.18%
SPSC	D	0.18%
DAR	F	0.18%
SITE	D	0.18%
BHLB	D	0.18%
PLNT	B	0.18%
SPXC	A	0.18%
ITRI	C	0.18%
OMF	D	0.18%
TGNA	B	0.18%
FMC	C	0.18%
FRPT	A	0.18%
WK	D	0.18%
ENLC	A	0.18%
CNO	B	0.18%
NSIT	B	0.18%
VFC	A	0.18%
GME	D	0.18%
SNDR	D	0.18%
BERY	C	0.18%
REZI	D	0.18%
HRI	B	0.18%
AXS	A	0.18%
FAF	C	0.17%
ZION	D	0.17%
FN	B	0.17%
CHX	C	0.17%
ELAN	D	0.17%
VOYA	A	0.17%
PR	D	0.17%
PCTY	C	0.17%
ONB	D	0.17%
BCC	C	0.17%
DLB	D	0.17%
RGEN	F	0.17%
BRKR	D	0.17%
LSCC	D	0.17%
THG	A	0.17%
TMHC	C	0.17%
GKOS	B	0.17%
NOV	F	0.16%
ESTC	F	0.16%
AM	A	0.16%
RRX	B	0.16%
SLM	B	0.16%
UBSI	D	0.16%
BRX	C	0.16%
CZR	B	0.16%
LAZ	C	0.16%
LUMN	C	0.16%
FSS	D	0.16%
PLXS	A	0.16%
GATX	F	0.16%
BHE	C	0.16%
AEIS	B	0.16%
WFRD	F	0.16%
DUOL	B	0.16%
PEN	D	0.15%
HIW	C	0.15%
SR	D	0.15%
HXL	F	0.15%
BANR	B	0.15%
KTB	C	0.15%
TPX	C	0.15%
GXO	D	0.15%
MKSI	F	0.15%
JAZZ	F	0.15%
MMSI	C	0.15%
ANF	D	0.15%
KNTK	A	0.15%
SF	A	0.15%
PDCO	F	0.15%
ASB	D	0.15%
TPH	C	0.15%
ACIW	A	0.15%
FLS	A	0.15%
HNI	B	0.15%
LFUS	C	0.15%
PCOR	D	0.15%
ASGN	D	0.15%
ALTR	B	0.14%
VNT	F	0.14%
AZEK	D	0.14%
ITCI	D	0.14%
MUR	F	0.14%
BCPC	C	0.14%
NPO	C	0.14%
HQY	B	0.14%
JXN	A	0.14%
GTLB	D	0.14%
ESI	C	0.14%
CBT	B	0.14%
FYBR	C	0.14%
LNTH	C	0.14%
TNL	B	0.14%
FIBK	C	0.14%
CRS	B	0.14%
SMAR	A	0.14%
IRDM	C	0.13%
AVAV	B	0.13%
ELF	F	0.13%
SOFI	C	0.13%
ADT	D	0.13%
WH	C	0.13%
BLKB	C	0.13%
IBCP	D	0.13%
SON	D	0.13%
YETI	C	0.13%
CADE	B	0.13%
KNF	B	0.13%
SHOO	A	0.13%
GL	C	0.13%
ITGR	B	0.13%
ORI	A	0.13%
OLLI	C	0.13%
BOX	C	0.13%
VECO	F	0.13%
HESM	C	0.13%
AGNC	B	0.13%
CPF	C	0.13%
OPCH	F	0.13%
CYTK	D	0.13%
DFIN	B	0.13%
VKTX	C	0.13%
CPK	C	0.13%
SWX	C	0.13%
VLY	C	0.13%
ACA	C	0.13%
CHDN	C	0.13%
KLIC	D	0.13%
RYAN	A	0.13%
MAT	B	0.13%
FA	A	0.12%
ECPG	F	0.12%
ABG	D	0.12%
EPAC	A	0.12%
SITC	D	0.12%
ADC	C	0.12%
IBP	C	0.12%
RMBS	F	0.12%
COLB	C	0.12%
VMI	B	0.12%
WGO	D	0.12%
CABO	F	0.12%
APPF	C	0.12%
TRNO	D	0.12%
WERN	D	0.12%
MTX	C	0.12%
PFSI	C	0.12%
RDUS	D	0.12%
CAVA	B	0.12%
HASI	B	0.12%
WTM	C	0.12%
BECN	D	0.12%
HALO	D	0.12%
OZK	D	0.12%
ARW	C	0.11%
WDFC	B	0.11%
GTLS	D	0.11%
XENE	D	0.11%
SCL	D	0.11%
CFLT	F	0.11%
ORA	C	0.11%
PRIM	A	0.11%
U	D	0.11%
STRL	B	0.11%
MRCY	B	0.11%
CGNX	F	0.11%
WHD	A	0.11%
DNLI	C	0.11%
HAE	F	0.11%
EAT	A	0.11%
AIT	B	0.11%
SIG	C	0.11%
DY	C	0.11%
STWD	C	0.11%
PATH	D	0.11%
KRC	C	0.11%
FUL	F	0.11%
MYRG	D	0.11%
BHVN	C	0.11%
S	C	0.11%
KOS	F	0.11%
OGN	F	0.11%
FULT	D	0.11%
PSN	A	0.11%
LRN	D	0.11%
LCII	C	0.11%
ETSY	F	0.11%
IDCC	A	0.11%
AMED	D	0.1%
CRDO	B	0.1%
POST	C	0.1%
BWIN	A	0.1%
SLG	C	0.1%
FR	D	0.1%
CSGS	B	0.1%
GMED	B	0.1%
ALKS	B	0.1%
QTWO	B	0.1%
NMIH	B	0.1%
NXT	F	0.1%
TENB	D	0.1%
RXO	D	0.1%
BRC	C	0.1%
CRNX	C	0.1%
AEO	C	0.1%
OLED	B	0.1%
AUB	D	0.1%
AL	D	0.1%
INSP	C	0.1%
LBRDA	C	0.1%
FLR	B	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%
VC	F	0.1%
CCOI	B	0.1%
SLAB	D	0.1%
DXC	C	0.1%
BRBR	A	0.09%
LYFT	D	0.09%
MGRC	D	0.09%
ICFI	C	0.09%
PJT	A	0.09%
ESE	C	0.09%
UNIT	B	0.09%
LNN	C	0.09%
BXMT	C	0.09%
AUR	C	0.09%
KFY	C	0.09%
WEN	B	0.09%
STC	D	0.09%
KD	D	0.09%
RDN	D	0.09%
CRVL	C	0.09%
CAC	C	0.09%
AROC	B	0.09%
RUN	D	0.09%
LNC	B	0.09%
HR	D	0.09%
APAM	B	0.09%
ATKR	F	0.09%
PEGA	B	0.09%
DV	F	0.09%
TMDX	D	0.09%
LCID	F	0.09%
ZI	F	0.09%
ERII	C	0.09%
ST	F	0.09%
BILL	D	0.09%
CRC	B	0.09%
PI	A	0.09%
JEF	A	0.09%
RDNT	C	0.09%
AMAL	B	0.09%
NXST	D	0.09%
TRN	C	0.09%
CVBF	B	0.09%
XHR	A	0.08%
BPMC	F	0.08%
TBBK	A	0.08%
IOSP	F	0.08%
ROG	D	0.08%
RNA	B	0.08%
PLUS	B	0.08%
AZZ	B	0.08%
OUT	C	0.08%
NWN	D	0.08%
MAN	D	0.08%
ALG	F	0.08%
CHWY	C	0.08%
EVRI	A	0.08%
CWEN	C	0.08%
CLVT	D	0.08%
AMN	F	0.08%
BC	C	0.08%
RNST	D	0.08%
CNK	D	0.08%
SHAK	A	0.08%
RVMD	B	0.08%
SXT	C	0.08%
KOP	F	0.08%
MAC	B	0.08%
BOOT	B	0.08%
RARE	D	0.08%
SBRA	C	0.08%
SPB	C	0.08%
ENOV	F	0.08%
CFR	B	0.08%
CRSP	F	0.08%
IMAX	D	0.08%
PRCT	D	0.08%
ICUI	B	0.08%
PLMR	A	0.08%
MARA	F	0.08%
WU	D	0.08%
ESNT	A	0.08%
LITE	A	0.08%
AN	D	0.08%
W	C	0.08%
MTSI	B	0.08%
TNET	D	0.08%
TEX	F	0.08%
SNX	C	0.08%
HWC	D	0.08%
VNO	B	0.08%
ABM	D	0.08%
NWL	D	0.08%
BPOP	D	0.08%
AZTA	F	0.08%
ENR	B	0.07%
UPBD	F	0.07%
LXP	D	0.07%
ENV	C	0.07%
ACVA	C	0.07%
VITL	C	0.07%
ANDE	D	0.07%
TDS	C	0.07%
PNTG	C	0.07%
LEG	D	0.07%
JBGS	C	0.07%
CPRI	C	0.07%
VCTR	A	0.07%
HLIT	D	0.07%
EXPO	A	0.07%
COLM	B	0.07%
VVX	A	0.07%
SEM	D	0.07%
AAT	C	0.07%
PHAT	C	0.07%
PECO	C	0.07%
XPRO	F	0.07%
TREX	D	0.07%
CTS	B	0.07%
SASR	B	0.07%
FL	F	0.07%
VRRM	D	0.07%
PEB	D	0.07%
HBI	B	0.07%
PLYA	D	0.07%
VAC	D	0.07%
SATS	C	0.07%
PRGO	F	0.07%
PRVA	F	0.07%
INTA	C	0.07%
RH	C	0.07%
INDB	D	0.07%
PDM	C	0.07%
BL	D	0.07%
CWK	D	0.07%
BOH	D	0.07%
WD	C	0.07%
VRDN	B	0.07%
NTGR	C	0.07%
POWL	B	0.07%
MPW	C	0.07%
KREF	C	0.07%
JBT	B	0.07%
VRNS	B	0.07%
ACLX	C	0.07%
AVNT	C	0.07%
DRS	A	0.07%
CCCS	D	0.07%
PIPR	A	0.07%
DOCS	A	0.07%
SEE	C	0.07%
GVA	A	0.07%
KTOS	B	0.07%
AMWD	C	0.07%
HWKN	B	0.07%
DEA	D	0.07%
ESRT	C	0.07%
CALX	C	0.07%
CCS	C	0.07%
XRAY	D	0.07%
ZD	D	0.07%
COLD	D	0.07%
PRKS	C	0.07%
MTRN	F	0.06%
HURN	D	0.06%
HZO	C	0.06%
IBOC	D	0.06%
TALO	D	0.06%
CIVI	F	0.06%
FROG	F	0.06%
GH	F	0.06%
PRG	C	0.06%
DCO	B	0.06%
NARI	F	0.06%
HI	F	0.06%
LBRDK	C	0.06%
PPBI	D	0.06%
CMCO	D	0.06%
KSS	D	0.06%
TDOC	D	0.06%
BYD	B	0.06%
HELE	D	0.06%
APGE	C	0.06%
THS	D	0.06%
PDFS	F	0.06%
CBU	D	0.06%
AAP	F	0.06%
MOV	F	0.06%
BKU	D	0.06%
PTGX	C	0.06%
MNKD	B	0.06%
CLB	D	0.06%
MEI	D	0.06%
VSEC	D	0.06%
CART	B	0.06%
HL	C	0.06%
TWST	D	0.06%
AIR	C	0.06%
WRBY	B	0.06%
FOUR	A	0.06%
OSCR	C	0.06%
FUN	F	0.06%
KROS	C	0.06%
ROCK	D	0.06%
PAR	D	0.06%
KYMR	D	0.06%
JWN	D	0.06%
MYGN	D	0.06%
SPR	D	0.06%
APG	F	0.06%
CLH	B	0.06%
WKC	A	0.06%
CWEN	C	0.06%
TILE	C	0.06%
OII	D	0.06%
MHO	C	0.06%
UFPT	D	0.06%
MXL	D	0.06%
AVPT	A	0.06%
IESC	A	0.06%
ADUS	D	0.06%
KE	F	0.06%
SQSP	A	0.06%
ALTM	D	0.06%
GERN	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	C	0.06%
UEC	C	0.06%
CDE	C	0.06%
VRNT	F	0.06%
EPR	C	0.06%
UNFI	C	0.06%
ADMA	A	0.06%
HIMS	C	0.06%
HGV	F	0.06%
BANC	D	0.06%
RCM	B	0.06%
ROIV	D	0.06%
BDN	B	0.06%
CMP	D	0.06%
WTFC	B	0.06%
COMP	C	0.06%
CLNE	C	0.06%
TROX	D	0.06%
RKLB	B	0.06%
MRUS	D	0.06%
GTES	C	0.06%
TNC	F	0.06%
SMTC	C	0.06%
SKT	A	0.06%
EYE	F	0.06%
SONO	F	0.06%
GT	F	0.06%
EWTX	B	0.06%
ALHC	C	0.06%
NEP	D	0.06%
NUVL	B	0.06%
HAIN	C	0.06%
MIR	B	0.06%
LEVI	C	0.06%
PK	D	0.06%
TNDM	D	0.06%
RKT	D	0.06%
MODG	F	0.06%
IDYA	F	0.06%
FLGT	F	0.05%
MQ	F	0.05%
TGTX	D	0.05%
CUBI	F	0.05%
SVRA	F	0.05%
TGI	F	0.05%
FORM	D	0.05%
BBIO	F	0.05%
SLNO	B	0.05%
SNDX	F	0.05%
HPP	F	0.05%
CPRX	C	0.05%
GPRE	F	0.05%
IRON	C	0.05%
PENN	D	0.05%
PLUG	D	0.05%
KRYS	D	0.05%
AHH	F	0.05%
CAR	D	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%
JAMF	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%
BKD	F	0.05%
PGNY	F	0.05%
FFBC	D	0.05%
ARLO	F	0.05%
MGNI	D	0.05%
RAMP	F	0.05%
RBBN	C	0.05%
ZUO	F	0.05%
INVX	F	0.05%
RNG	F	0.05%
QS	F	0.05%
AI	D	0.05%
NBHC	D	0.05%
DLX	F	0.05%
ALKT	D	0.05%
TXG	F	0.05%
RUSHA	D	0.05%
PRO	F	0.05%
DNOW	F	0.05%
AMBC	F	0.05%
KLG	F	0.05%
RXRX	F	0.05%
ZEUS	F	0.05%
HLX	C	0.05%
KMPR	D	0.05%
CCRN	F	0.05%
OMI	F	0.05%
ASH	F	0.05%
PAYO	A	0.05%
BEAM	F	0.05%
AVDX	F	0.05%
CBZ	F	0.05%
EPC	F	0.05%
ACEL	C	0.05%
XPEL	D	0.05%
VYX	C	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%
NEO	F	0.05%
XRX	D	0.05%
FTRE	F	0.05%
ETWO	F	0.05%
OMCL	C	0.05%
AWR	B	0.05%
WNC	F	0.05%
VERX	B	0.05%
MLTX	C	0.05%
CRI	D	0.05%
PLAY	D	0.05%
JANX	C	0.05%
CWAN	B	0.05%
CSTL	B	0.05%
ICHR	D	0.05%
PETQ	A	0.05%
SMPL	D	0.05%
HOUS	D	0.05%
VSCO	C	0.05%
VRTS	D	0.05%
MTTR	B	0.05%
EDR	A	0.05%
INFA	D	0.05%
UAA	B	0.05%
ATGE	D	0.05%
PYCR	D	0.05%
PSMT	A	0.05%
HAYW	C	0.05%
BROS	F	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%
SFBS	B	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%
HCC	C	0.05%
AGIO	D	0.05%
PGRE	D	0.05%
MLNK	F	0.05%
CRAI	B	0.05%
NABL	F	0.05%
CLDX	F	0.05%
ELVN	A	0.05%
RYN	C	0.05%
CHH	A	0.05%
CAKE	A	0.05%
GBX	C	0.05%
ARQT	D	0.05%
AGYS	D	0.05%
OWL	A	0.05%
PTCT	C	0.05%
CNMD	F	0.05%
NOVA	F	0.05%
SMP	D	0.05%
GRBK	C	0.05%
RXST	F	0.05%
SKY	C	0.05%
BNL	C	0.05%
COGT	B	0.05%
YELP	D	0.05%
THRM	F	0.05%
GEF	B	0.05%
IONS	F	0.05%
VREX	F	0.05%
AORT	B	0.05%
SLVM	C	0.05%
COOP	B	0.05%
PRAA	F	0.05%
EE	B	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	B	0.05%
CALM	A	0.05%
ARKO	C	0.05%
PLOW	D	0.05%
DOCN	B	0.05%
SHC	C	0.05%
SM	D	0.05%
INFN	C	0.05%
GEF	B	0.05%
MASI	B	0.05%
MBUU	D	0.05%
LIVN	C	0.05%
AXSM	D	0.05%
FIVN	F	0.05%
VERA	C	0.05%
CECO	D	0.05%
VNOM	A	0.05%
VBTX	C	0.05%
ZYME	B	0.05%
VSTS	D	0.05%
NTLA	F	0.05%
JELD	D	0.05%
UPST	C	0.05%
CRMT	F	0.04%
APLS	F	0.04%
BRY	F	0.04%
FNA	F	0.04%
AGL	F	0.04%
PLRX	F	0.04%
SEDG	F	0.04%
MDGL	F	0.04%
BASE	F	0.04%
MEG	F	0.04%
CNXC	F	0.04%
ETNB	F	0.04%
CXM	F	0.04%
RCUS	D	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%
CLSK	F	0.04%
ASAN	F	0.04%
EGY	D	0.04%
CAL	F	0.04%
GOGO	F	0.04%
ASPN	C	0.04%
NVCR	F	0.04%
MTUS	F	0.04%
CLW	F	0.04%
IMVT	D	0.04%
ANAB	D	0.04%
NCNO	F	0.04%
BE	F	0.04%
LBPH	D	0.04%
RCKT	F	0.04%
LESL	F	0.04%
AMC	F	0.04%
FRSH	F	0.04%
DGII	B	0.04%
MLKN	F	0.04%
ALRM	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	D	0.04%
VSAT	F	0.03%
WOLF	F	0.03%
MC	B	0.02%
DEI	A	0.02%
GDOT	C	0.01%

ESML Underweight 284 Positions Relative to QARP

Symbol	Grade	Weight
META	A	-5.23%
BRK.A	B	-5.21%
AAPL	C	-5.0%
AMZN	C	-3.71%
XOM	A	-3.07%
WMT	A	-2.81%
JNJ	D	-2.53%
COST	C	-2.33%
UNH	B	-2.31%
GOOGL	B	-2.25%
MSFT	D	-2.13%
GOOG	B	-2.03%
HD	A	-2.01%
CSCO	A	-1.85%
V	B	-1.67%
MA	A	-1.53%
PG	D	-1.43%
CVX	B	-1.39%
ACN	B	-1.19%
MCK	F	-0.93%
ADBE	F	-0.91%
AMAT	C	-0.89%
TJX	D	-0.83%
CMCSA	B	-0.83%
LMT	A	-0.79%
LOW	C	-0.79%
VZ	C	-0.73%
COP	D	-0.72%
BKNG	B	-0.71%
CAT	A	-0.69%
T	B	-0.69%
TSLA	C	-0.63%
ELV	F	-0.62%
MO	D	-0.6%
CI	D	-0.6%
MMC	D	-0.57%
BMY	A	-0.55%
PFE	D	-0.55%
PM	D	-0.53%
LRCX	D	-0.52%
SBUX	B	-0.52%
EOG	B	-0.46%
LEN	C	-0.44%
UPS	D	-0.42%
TGT	C	-0.42%
MCD	A	-0.41%
MU	D	-0.4%
NUE	D	-0.39%
TXN	C	-0.39%
NKE	D	-0.38%
MRK	F	-0.38%
ORLY	A	-0.37%
CAH	B	-0.37%
AZO	D	-0.36%
REGN	D	-0.36%
DHI	C	-0.36%
HUM	F	-0.35%
SYY	D	-0.35%
PSA	C	-0.34%
MCO	D	-0.33%
AON	A	-0.32%
PYPL	A	-0.32%
HCA	C	-0.32%
GILD	A	-0.31%
ADM	F	-0.31%
FDX	F	-0.31%
ITW	C	-0.31%
CNC	F	-0.3%
KR	C	-0.29%
CTSH	B	-0.29%
ACGL	A	-0.28%
QCOM	D	-0.28%
ROST	D	-0.28%
MPC	D	-0.27%
DE	C	-0.26%
BBY	C	-0.26%
GWW	B	-0.25%
CL	D	-0.24%
CMI	A	-0.24%
NVR	C	-0.24%
ABNB	D	-0.23%
PHM	C	-0.23%
TROW	D	-0.23%
KLAC	B	-0.22%
ABT	C	-0.22%
MSCI	B	-0.22%
STLD	C	-0.22%
URI	C	-0.22%
GM	D	-0.21%
PCAR	D	-0.21%
KVUE	C	-0.21%
VRTX	D	-0.21%
CVS	D	-0.2%
ADP	A	-0.2%
EA	D	-0.19%
PAYX	B	-0.19%
SPG	A	-0.19%
FAST	C	-0.19%
FTNT	A	-0.18%
FANG	D	-0.18%
VLO	F	-0.18%
BLDR	C	-0.18%
DAL	C	-0.18%
WSM	C	-0.18%
TSCO	A	-0.17%
ULTA	D	-0.17%
KMB	D	-0.17%
ODFL	F	-0.17%
VST	A	-0.17%
RS	D	-0.16%
ISRG	C	-0.16%
DVN	F	-0.16%
EXPD	D	-0.15%
LULU	D	-0.15%
GEHC	C	-0.15%
NVDA	B	-0.15%
GEV	A	-0.15%
COF	A	-0.14%
SLB	D	-0.14%
EXPE	B	-0.14%
MNST	D	-0.14%
LPLA	D	-0.14%
ANET	A	-0.13%
MMM	C	-0.13%
FCNCA	D	-0.13%
UNP	F	-0.13%
CF	A	-0.13%
GRMN	D	-0.13%
DRI	C	-0.13%
EME	B	-0.13%
DECK	B	-0.12%
OC	C	-0.12%
KEYS	B	-0.12%
PSX	D	-0.12%
SYF	A	-0.11%
SOLV	C	-0.11%
LYB	B	-0.11%
CMG	C	-0.11%
CHTR	D	-0.11%
MAR	A	-0.11%
MTD	C	-0.11%
SWKS	F	-0.1%
FDS	C	-0.1%
LUV	B	-0.1%
UTHR	C	-0.1%
GIS	C	-0.1%
CTRA	D	-0.1%
CPNG	C	-0.1%
DKS	D	-0.1%
SNA	C	-0.1%
MRO	B	-0.1%
A	B	-0.1%
WY	C	-0.09%
AMD	C	-0.09%
ROK	D	-0.09%
CBRE	C	-0.09%
EBAY	A	-0.09%
HSY	D	-0.09%
ADI	B	-0.09%
CBOE	B	-0.08%
WSO	C	-0.08%
CTAS	C	-0.08%
PFGC	A	-0.08%
AOS	C	-0.08%
DLTR	F	-0.08%
VICI	C	-0.08%
GPC	D	-0.08%
MAS	C	-0.08%
BKR	B	-0.08%
WST	D	-0.08%
INTC	D	-0.08%
MRNA	F	-0.08%
DOW	B	-0.08%
HPQ	B	-0.08%
CINF	A	-0.08%
APTV	D	-0.07%
NTAP	D	-0.07%
GGG	C	-0.07%
SKX	B	-0.07%
MOH	F	-0.07%
UAL	A	-0.07%
DOX	B	-0.07%
ATO	A	-0.07%
SPGI	C	-0.07%
LYV	A	-0.07%
TT	A	-0.07%
FFIV	B	-0.06%
YUM	C	-0.06%
ALGN	D	-0.06%
INCY	B	-0.06%
EW	F	-0.06%
HAL	D	-0.06%
PGR	B	-0.06%
ADSK	B	-0.06%
OXY	D	-0.06%
CHK	C	-0.06%
EG	A	-0.06%
K	B	-0.06%
JBL	C	-0.06%
UHS	D	-0.06%
SEIC	B	-0.06%
TXT	F	-0.06%
CHRW	C	-0.06%
LNG	A	-0.06%
VRSN	C	-0.06%
FICO	C	-0.06%
CSX	D	-0.06%
POOL	D	-0.06%
CPRT	B	-0.06%
CLX	C	-0.06%
LVS	B	-0.05%
MOS	F	-0.05%
MCHP	F	-0.05%
FCX	B	-0.05%
JBHT	D	-0.05%
HOLX	D	-0.05%
OTIS	A	-0.05%
PKG	B	-0.05%
ON	F	-0.05%
JKHY	A	-0.05%
CSL	A	-0.05%
BX	C	-0.05%
MKTX	B	-0.05%
MGM	D	-0.05%
PWR	A	-0.05%
ACI	F	-0.05%
COIN	F	-0.04%
ACM	A	-0.04%
EPAM	F	-0.04%
JNPR	C	-0.04%
CCL	C	-0.04%
CNP	B	-0.04%
WBD	F	-0.04%
TSN	D	-0.04%
EL	D	-0.04%
AMCR	C	-0.04%
WYNN	B	-0.04%
LLY	D	-0.04%
TER	C	-0.04%
IP	C	-0.04%
J	F	-0.04%
CE	D	-0.04%
CHRD	F	-0.04%
GNTX	D	-0.04%
ORCL	A	-0.04%
BURL	C	-0.04%
LKQ	F	-0.03%
DD	C	-0.03%
WAT	B	-0.03%
EXEL	B	-0.03%
WTW	C	-0.03%
HII	F	-0.03%
KNX	D	-0.03%
SJM	D	-0.03%
FOXA	B	-0.03%
GLPI	C	-0.03%
AMGN	D	-0.03%
DPZ	D	-0.03%
DGX	D	-0.03%
MSM	D	-0.03%
OLN	D	-0.03%
AAL	D	-0.03%
ROL	C	-0.03%
HLI	A	-0.03%
PAYC	D	-0.03%
TAP	D	-0.03%
RPRX	D	-0.03%
PII	D	-0.03%
LAMR	C	-0.03%
HST	D	-0.03%
BBWI	F	-0.02%
DINO	F	-0.02%
BIIB	F	-0.02%
CDNS	D	-0.02%
NEU	F	-0.02%
ALB	D	-0.02%
ABBV	C	-0.02%
APA	F	-0.02%
CDW	D	-0.02%
CPB	D	-0.02%
CTVA	A	-0.02%
G	A	-0.02%
OVV	D	-0.02%
IWB	A	-0.0%