ESML vs. SPSM ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to SPDR Portfolio Small Cap ETF (SPSM)

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

$41.03

Average Daily Volume

116,531

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

SPSM

SPDR Portfolio Small Cap ETF

SPSM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the SSGA Small Cap Index that tracks the performance of small capitalization exchange traded U.S. equity securities. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. It may purchase a subset of the securities in the index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.19

Average Daily Volume

1,491,123

Number of Holdings ^*

577

* may have additional holdings in another (foreign) market

Performance

Period	ESML	SPSM
30 Days	0.19%	-0.78%
60 Days	0.40%	3.87%
90 Days	8.24%	8.60%
12 Months	28.55%	27.49%

313 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in SPSM	Overlap
AAP	F	0.06%	0.18%	0.06%
AAT	C	0.07%	0.09%	0.07%
ABCB	C	0.1%	0.3%	0.1%
ABG	D	0.12%	0.33%	0.12%
ABM	D	0.08%	0.23%	0.08%
ACA	C	0.13%	0.33%	0.13%
ACIW	B	0.15%	0.39%	0.15%
ADMA	C	0.06%	0.34%	0.06%
ADUS	D	0.06%	0.17%	0.06%
AEIS	F	0.16%	0.28%	0.16%
AEO	B	0.1%	0.27%	0.1%
AGO	B	0.05%	0.29%	0.05%
AGYS	D	0.05%	0.18%	0.05%
AHH	F	0.05%	0.06%	0.05%
AIR	D	0.06%	0.18%	0.06%
AL	D	0.1%	0.34%	0.1%
ALG	D	0.08%	0.14%	0.08%
ALK	B	0.21%	0.39%	0.21%
ALKS	B	0.1%	0.34%	0.1%
ALRM	F	0.04%	0.2%	0.04%
AMBC	F	0.05%	0.04%	0.04%
AMN	F	0.08%	0.12%	0.08%
AMWD	B	0.07%	0.11%	0.07%
ANDE	D	0.07%	0.12%	0.07%
APAM	C	0.09%	0.22%	0.09%
ARCB	D	0.05%	0.19%	0.05%
ARLO	F	0.05%	0.09%	0.05%
AROC	B	0.09%	0.26%	0.09%
ASTE	F	0.05%	0.06%	0.05%
ATEN	B	0.05%	0.07%	0.05%
ATGE	D	0.05%	0.21%	0.05%
ATI	B	0.18%	0.6%	0.18%
AUB	D	0.1%	0.25%	0.1%
AVA	D	0.2%	0.22%	0.2%
AVAV	B	0.13%	0.42%	0.13%
AWI	A	0.21%	0.43%	0.21%
AWR	A	0.05%	0.23%	0.05%
AXL	F	0.05%	0.06%	0.05%
AZZ	C	0.08%	0.18%	0.08%
BANC	D	0.06%	0.15%	0.06%
BANR	C	0.15%	0.15%	0.15%
BCC	C	0.17%	0.4%	0.17%
BCPC	C	0.14%	0.42%	0.14%
BDN	A	0.06%	0.07%	0.06%
BGC	C	0.05%	0.27%	0.05%
BHE	C	0.16%	0.12%	0.12%
BHLB	D	0.18%	0.08%	0.08%
BKU	D	0.06%	0.2%	0.06%
BL	D	0.07%	0.19%	0.07%
BMI	A	0.31%	0.48%	0.31%
BOH	D	0.07%	0.19%	0.07%
BOOT	A	0.08%	0.37%	0.08%
BOX	C	0.13%	0.35%	0.13%
BRC	C	0.1%	0.24%	0.1%
BXMT	C	0.09%	0.25%	0.09%
CABO	F	0.12%	0.12%	0.12%
CAKE	A	0.05%	0.14%	0.05%
CAL	F	0.04%	0.08%	0.04%
CALM	B	0.05%	0.22%	0.05%
CALX	C	0.07%	0.17%	0.07%
CBU	D	0.06%	0.23%	0.06%
CCOI	B	0.1%	0.23%	0.1%
CCRN	F	0.05%	0.04%	0.04%
CCS	C	0.07%	0.21%	0.07%
CLB	D	0.06%	0.07%	0.06%
CLW	F	0.04%	0.04%	0.04%
CMA	C	0.19%	0.59%	0.19%
CNK	C	0.08%	0.22%	0.08%
CNMD	D	0.05%	0.17%	0.05%
COOP	B	0.05%	0.44%	0.05%
CPF	C	0.13%	0.06%	0.06%
CPK	C	0.13%	0.2%	0.13%
CPRX	C	0.05%	0.17%	0.05%
CRC	B	0.09%	0.27%	0.09%
CRS	C	0.14%	0.58%	0.14%
CRVL	C	0.09%	0.21%	0.09%
CSGS	C	0.1%	0.1%	0.1%
CTS	B	0.07%	0.11%	0.07%
CUBI	F	0.05%	0.1%	0.05%
CVBF	B	0.09%	0.17%	0.09%
CWEN	C	0.08%	0.07%	0.07%
CWEN	C	0.06%	0.07%	0.06%
CWEN	C	0.08%	0.18%	0.08%
CWEN	C	0.06%	0.18%	0.06%
CWK	C	0.07%	0.23%	0.07%
CWT	D	0.05%	0.23%	0.05%
CXM	F	0.04%	0.07%	0.04%
DEA	D	0.07%	0.1%	0.07%
DEI	A	0.02%	0.21%	0.02%
DFIN	C	0.13%	0.13%	0.13%
DGII	B	0.04%	0.07%	0.04%
DLX	F	0.05%	0.07%	0.05%
DNOW	F	0.05%	0.1%	0.05%
DOCN	C	0.05%	0.19%	0.05%
DV	F	0.09%	0.18%	0.09%
DXC	D	0.1%	0.28%	0.1%
DY	C	0.11%	0.42%	0.11%
EAT	A	0.11%	0.25%	0.11%
ECPG	F	0.12%	0.09%	0.09%
EMBC	F	0.05%	0.07%	0.05%
ENR	B	0.07%	0.14%	0.07%
ENSG	D	0.21%	0.63%	0.21%
ENV	C	0.07%	0.23%	0.07%
EPAC	C	0.12%	0.17%	0.12%
EPC	F	0.05%	0.13%	0.05%
EPRT	C	0.2%	0.45%	0.2%
ESE	B	0.09%	0.24%	0.09%
ETSY	F	0.11%	0.46%	0.11%
EYE	F	0.06%	0.06%	0.06%
FBP	D	0.2%	0.25%	0.2%
FELE	C	0.23%	0.29%	0.23%
FFBC	D	0.05%	0.18%	0.05%
FL	F	0.07%	0.17%	0.07%
FLGT	F	0.05%	0.03%	0.03%
FORM	F	0.05%	0.25%	0.05%
FOXF	F	0.05%	0.13%	0.05%
FSS	B	0.16%	0.41%	0.16%
FTDR	C	0.2%	0.27%	0.2%
FTRE	F	0.05%	0.15%	0.05%
FUL	F	0.11%	0.33%	0.11%
FULT	D	0.11%	0.25%	0.11%
GBX	C	0.05%	0.12%	0.05%
GDOT	C	0.01%	0.05%	0.01%
GKOS	B	0.17%	0.52%	0.17%
GO	F	0.05%	0.12%	0.05%
GOGO	F	0.04%	0.03%	0.03%
GPI	C	0.19%	0.37%	0.19%
GPRE	F	0.05%	0.06%	0.05%
GRBK	C	0.05%	0.18%	0.05%
GTES	C	0.06%	0.29%	0.06%
GVA	A	0.07%	0.25%	0.07%
HAFC	D	0.05%	0.05%	0.05%
HAIN	B	0.06%	0.05%	0.05%
HASI	C	0.12%	0.3%	0.12%
HAYW	B	0.05%	0.15%	0.05%
HBI	B	0.07%	0.17%	0.07%
HCC	B	0.05%	0.21%	0.05%
HELE	D	0.06%	0.1%	0.06%
HI	F	0.06%	0.14%	0.06%
HIW	C	0.15%	0.26%	0.15%
HLIT	C	0.07%	0.12%	0.07%
HLX	D	0.05%	0.11%	0.05%
HNI	B	0.15%	0.18%	0.15%
HPP	F	0.05%	0.05%	0.05%
HWKN	A	0.07%	0.17%	0.07%
HZO	D	0.06%	0.05%	0.05%
IART	F	0.04%	0.09%	0.04%
IBP	B	0.12%	0.42%	0.12%
ICHR	D	0.05%	0.07%	0.05%
ICUI	B	0.08%	0.31%	0.08%
IDCC	A	0.11%	0.26%	0.11%
INDB	D	0.07%	0.19%	0.07%
INSP	B	0.1%	0.48%	0.1%
IOSP	F	0.08%	0.2%	0.08%
ITGR	C	0.13%	0.32%	0.13%
ITRI	C	0.18%	0.35%	0.18%
JBGS	C	0.07%	0.12%	0.07%
JBT	B	0.07%	0.21%	0.07%
JXN	A	0.14%	0.5%	0.14%
KAR	D	0.1%	0.13%	0.1%
KELYA	D	0.05%	0.05%	0.05%
KFY	C	0.09%	0.29%	0.09%
KLG	D	0.05%	0.09%	0.05%
KLIC	D	0.13%	0.17%	0.13%
KOP	F	0.08%	0.05%	0.05%
KREF	C	0.07%	0.06%	0.06%
KRYS	D	0.05%	0.33%	0.05%
KSS	D	0.06%	0.15%	0.06%
KTB	B	0.15%	0.29%	0.15%
LCII	B	0.11%	0.22%	0.11%
LEG	D	0.07%	0.13%	0.07%
LESL	F	0.04%	0.04%	0.04%
LNC	D	0.09%	0.4%	0.09%
LNN	C	0.09%	0.1%	0.09%
LRN	C	0.11%	0.26%	0.11%
LUMN	C	0.16%	0.55%	0.16%
LXP	D	0.07%	0.22%	0.07%
MAC	C	0.08%	0.28%	0.08%
MARA	F	0.08%	0.35%	0.08%
MC	C	0.02%	0.36%	0.02%
MHO	C	0.06%	0.34%	0.06%
MLKN	F	0.04%	0.12%	0.04%
MMI	C	0.05%	0.07%	0.05%
MMSI	C	0.15%	0.43%	0.15%
MNRO	B	0.05%	0.06%	0.05%
MODG	F	0.06%	0.11%	0.06%
MOG.A	A	0.23%	0.43%	0.23%
MOV	F	0.06%	0.02%	0.02%
MPW	C	0.07%	0.26%	0.07%
MRCY	B	0.11%	0.13%	0.11%
MTH	C	0.19%	0.55%	0.19%
MTRN	F	0.06%	0.16%	0.06%
MTUS	F	0.04%	0.04%	0.04%
MTX	B	0.12%	0.17%	0.12%
MXL	F	0.06%	0.08%	0.06%
MYGN	D	0.06%	0.18%	0.06%
MYRG	F	0.11%	0.12%	0.11%
NABL	F	0.05%	0.07%	0.05%
NARI	F	0.06%	0.16%	0.06%
NBHC	D	0.05%	0.12%	0.05%
NBTB	D	0.05%	0.16%	0.05%
NEO	F	0.05%	0.15%	0.05%
NMIH	C	0.1%	0.24%	0.1%
NPO	C	0.14%	0.24%	0.14%
NSIT	B	0.18%	0.44%	0.18%
NWL	D	0.08%	0.22%	0.08%
NWN	C	0.08%	0.12%	0.08%
OGN	F	0.11%	0.37%	0.11%
OII	D	0.06%	0.2%	0.06%
OMCL	C	0.05%	0.15%	0.05%
OMI	F	0.05%	0.08%	0.05%
OUT	C	0.08%	0.19%	0.08%
PAHC	C	0.06%	0.04%	0.04%
PBI	C	0.05%	0.08%	0.05%
PDCO	F	0.15%	0.12%	0.12%
PDFS	F	0.06%	0.07%	0.06%
PEB	D	0.07%	0.12%	0.07%
PECO	C	0.07%	0.34%	0.07%
PENN	D	0.05%	0.21%	0.05%
PFS	D	0.04%	0.18%	0.04%
PGNY	F	0.05%	0.1%	0.05%
PI	B	0.09%	0.35%	0.09%
PINC	F	0.12%	0.15%	0.12%
PIPR	B	0.07%	0.33%	0.07%
PJT	C	0.09%	0.24%	0.09%
PLAY	D	0.05%	0.08%	0.05%
PLMR	C	0.08%	0.18%	0.08%
PLUS	C	0.08%	0.19%	0.08%
PLXS	B	0.16%	0.26%	0.16%
POWL	A	0.07%	0.15%	0.07%
PPBI	F	0.06%	0.18%	0.06%
PRAA	F	0.05%	0.07%	0.05%
PRG	C	0.06%	0.16%	0.06%
PRGS	B	0.24%	0.18%	0.18%
PRVA	F	0.07%	0.14%	0.07%
PSMT	B	0.05%	0.16%	0.05%
PTEN	F	0.04%	0.22%	0.04%
PTGX	C	0.06%	0.2%	0.06%
RAMP	F	0.05%	0.13%	0.05%
RCUS	F	0.04%	0.07%	0.04%
RDN	D	0.09%	0.39%	0.09%
RDNT	C	0.09%	0.34%	0.09%
REZI	D	0.18%	0.21%	0.18%
RHI	D	0.2%	0.52%	0.2%
RNST	D	0.08%	0.15%	0.08%
ROCK	D	0.06%	0.16%	0.06%
ROG	D	0.08%	0.13%	0.08%
RUN	D	0.09%	0.31%	0.09%
RUSHA	D	0.05%	0.24%	0.05%
RXO	D	0.1%	0.23%	0.1%
SATS	C	0.07%	0.23%	0.07%
SBH	C	0.05%	0.1%	0.05%
SCL	D	0.11%	0.12%	0.11%
SEDG	F	0.04%	0.09%	0.04%
SEE	C	0.07%	0.38%	0.07%
SEM	D	0.07%	0.27%	0.07%
SFBS	D	0.05%	0.31%	0.05%
SGH	D	0.05%	0.08%	0.05%
SHAK	C	0.08%	0.31%	0.08%
SHOO	A	0.13%	0.26%	0.13%
SIG	C	0.11%	0.32%	0.11%
SJW	D	0.1%	0.13%	0.1%
SKT	A	0.06%	0.26%	0.06%
SLG	C	0.1%	0.34%	0.1%
SLVM	C	0.05%	0.21%	0.05%
SM	F	0.05%	0.35%	0.05%
SMP	D	0.05%	0.05%	0.05%
SMPL	D	0.05%	0.23%	0.05%
SMTC	C	0.06%	0.25%	0.06%
SNDR	C	0.18%	0.1%	0.1%
SONO	D	0.06%	0.11%	0.06%
SPSC	D	0.18%	0.53%	0.18%
STAA	D	0.04%	0.11%	0.04%
STC	C	0.09%	0.15%	0.09%
SXT	C	0.08%	0.24%	0.08%
TALO	F	0.06%	0.1%	0.06%
TBBK	C	0.08%	0.19%	0.08%
TDS	B	0.07%	0.16%	0.07%
TGI	F	0.05%	0.08%	0.05%
TGNA	B	0.18%	0.18%	0.18%
TGTX	C	0.05%	0.23%	0.05%
THRM	F	0.05%	0.11%	0.05%
THS	C	0.06%	0.14%	0.06%
TILE	C	0.06%	0.08%	0.06%
TNC	F	0.06%	0.13%	0.06%
TNDM	D	0.06%	0.22%	0.06%
TPH	C	0.15%	0.31%	0.15%
TRN	C	0.09%	0.21%	0.09%
UFPT	D	0.06%	0.19%	0.06%
UNFI	B	0.06%	0.08%	0.06%
UNIT	B	0.09%	0.1%	0.09%
VBTX	C	0.05%	0.1%	0.05%
VECO	F	0.13%	0.13%	0.13%
VFC	B	0.18%	0.45%	0.18%
VRRM	D	0.07%	0.34%	0.07%
VRTS	F	0.05%	0.1%	0.05%
VSAT	F	0.03%	0.08%	0.03%
VSCO	C	0.05%	0.15%	0.05%
VSTS	D	0.05%	0.13%	0.05%
VVI	B	0.05%	0.06%	0.05%
WD	C	0.07%	0.27%	0.07%
WDFC	B	0.11%	0.25%	0.11%
WERN	D	0.12%	0.17%	0.12%
WGO	D	0.12%	0.12%	0.12%
WHD	B	0.11%	0.31%	0.11%
WNC	F	0.05%	0.06%	0.05%
WOLF	F	0.03%	0.07%	0.03%
XHR	B	0.08%	0.11%	0.08%
XPEL	D	0.05%	0.07%	0.05%
XRX	D	0.05%	0.09%	0.05%
YELP	D	0.05%	0.17%	0.05%
ZD	D	0.07%	0.16%	0.07%
ZWS	A	0.19%	0.36%	0.19%

ESML Overweight 593 Positions Relative to SPSM

Symbol	Grade	Weight
CASY	D	0.5%
USFD	C	0.49%
JHG	C	0.45%
INGR	A	0.41%
GWRE	A	0.41%
KBR	C	0.4%
REXR	D	0.39%
JLL	B	0.38%
CVNA	A	0.36%
FIX	A	0.36%
SFM	A	0.35%
MUSA	D	0.34%
OGS	C	0.33%
NTNX	C	0.33%
EWBC	D	0.33%
FTI	B	0.33%
RGLD	C	0.32%
FRT	D	0.32%
FLEX	C	0.31%
ITT	B	0.3%
WEX	C	0.3%
MDU	C	0.3%
ONTO	B	0.3%
RGA	C	0.3%
BLD	C	0.3%
GPK	C	0.29%
AVT	C	0.29%
EHC	B	0.29%
AYI	A	0.29%
OSK	F	0.28%
SIGI	D	0.28%
BFAM	C	0.28%
WMS	D	0.27%
PCVX	B	0.27%
UGI	C	0.27%
R	C	0.27%
TOL	A	0.27%
COHR	B	0.27%
AXTA	C	0.26%
SCI	C	0.26%
XPO	F	0.26%
BWXT	A	0.26%
IBKR	A	0.26%
NTRA	A	0.26%
RNR	A	0.26%
CNM	F	0.25%
TPR	B	0.25%
PNFP	D	0.25%
GBCI	C	0.25%
DCI	B	0.25%
THC	C	0.25%
SNV	D	0.25%
WING	B	0.25%
BJ	D	0.25%
IVZ	A	0.25%
SSB	C	0.25%
MTG	B	0.25%
SWN	D	0.24%
SAIA	D	0.24%
UMBF	C	0.24%
RRC	D	0.24%
ARMK	A	0.24%
HOG	D	0.24%
FND	C	0.24%
MWA	A	0.23%
INSM	D	0.23%
KBH	C	0.23%
CROX	C	0.23%
FCN	C	0.23%
DTM	A	0.23%
CNX	A	0.23%
ATR	A	0.23%
SUM	D	0.23%
EGP	D	0.23%
CUBE	C	0.23%
LSTR	D	0.22%
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%
ALSN	A	0.22%
WCC	C	0.21%
CVLT	C	0.21%
NFG	A	0.21%
UNM	A	0.21%
NOVT	C	0.21%
SRPT	F	0.21%
AAON	A	0.21%
HRB	C	0.21%
CMC	D	0.21%
AR	B	0.21%
WAL	C	0.21%
WTS	C	0.21%
WHR	B	0.2%
NVT	D	0.2%
KNSL	D	0.2%
RHP	C	0.2%
LNW	F	0.2%
FTAI	A	0.2%
WWD	B	0.2%
WSC	D	0.2%
BDC	B	0.2%
NCLH	C	0.2%
HHH	C	0.2%
CBSH	D	0.2%
EXLS	A	0.2%
OHI	C	0.2%
MSA	F	0.19%
CR	B	0.19%
RLI	A	0.19%
TTEK	B	0.19%
AFRM	C	0.19%
GNRC	B	0.19%
FHN	D	0.19%
NYT	A	0.19%
ACHC	F	0.19%
PCH	C	0.19%
BWA	B	0.19%
LAD	C	0.19%
LECO	D	0.19%
AA	B	0.19%
MORN	C	0.18%
CIEN	A	0.18%
MOD	B	0.18%
TKO	A	0.18%
DAR	F	0.18%
VVV	D	0.18%
SITE	D	0.18%
PLNT	B	0.18%
SPXC	C	0.18%
OMF	F	0.18%
FMC	B	0.18%
FRPT	C	0.18%
WK	D	0.18%
ENLC	A	0.18%
CNO	C	0.18%
AMG	B	0.18%
GME	F	0.18%
CRUS	D	0.18%
BERY	C	0.18%
HRI	C	0.18%
AXS	A	0.18%
FAF	B	0.17%
ZION	D	0.17%
FN	B	0.17%
CHX	D	0.17%
ELAN	D	0.17%
VOYA	A	0.17%
PR	F	0.17%
PCTY	B	0.17%
ONB	D	0.17%
DLB	D	0.17%
RGEN	F	0.17%
LPX	A	0.17%
BRKR	D	0.17%
LSCC	D	0.17%
THG	C	0.17%
TMHC	C	0.17%
NOV	F	0.16%
ESTC	F	0.16%
AM	A	0.16%
RRX	C	0.16%
SLM	C	0.16%
UBSI	D	0.16%
BRX	C	0.16%
CZR	B	0.16%
LAZ	C	0.16%
GATX	F	0.16%
PVH	F	0.16%
WFRD	F	0.16%
DUOL	B	0.16%
MTZ	B	0.16%
PEN	D	0.15%
SR	C	0.15%
AGCO	D	0.15%
HXL	F	0.15%
TPX	C	0.15%
GXO	D	0.15%
MKSI	F	0.15%
JAZZ	F	0.15%
ANF	F	0.15%
KNTK	B	0.15%
SF	A	0.15%
DBX	B	0.15%
MEDP	F	0.15%
ASB	F	0.15%
CHE	C	0.15%
FLS	A	0.15%
LFUS	C	0.15%
PCOR	D	0.15%
ASGN	D	0.15%
ALTR	B	0.14%
VNT	F	0.14%
AZEK	C	0.14%
ITCI	D	0.14%
MUR	F	0.14%
HQY	C	0.14%
GTLB	D	0.14%
ESI	B	0.14%
CBT	B	0.14%
FYBR	C	0.14%
LNTH	C	0.14%
X	F	0.14%
TNL	B	0.14%
FIBK	D	0.14%
SMAR	A	0.14%
IRDM	B	0.13%
ELF	F	0.13%
SOFI	C	0.13%
LEA	F	0.13%
ADT	D	0.13%
WH	C	0.13%
BLKB	C	0.13%
IBCP	D	0.13%
SON	D	0.13%
YETI	B	0.13%
CADE	D	0.13%
THO	B	0.13%
KNF	C	0.13%
GL	C	0.13%
M	F	0.13%
ORI	B	0.13%
OLLI	C	0.13%
HESM	D	0.13%
AGNC	C	0.13%
OPCH	F	0.13%
CYTK	F	0.13%
VKTX	C	0.13%
SWX	C	0.13%
VLY	C	0.13%
CHDN	D	0.13%
RYAN	A	0.13%
MAT	D	0.13%
FA	A	0.12%
SITC	F	0.12%
ADC	B	0.12%
RMBS	F	0.12%
COLB	C	0.12%
FIVE	D	0.12%
VMI	B	0.12%
APPF	C	0.12%
TRNO	D	0.12%
PFSI	C	0.12%
RDUS	D	0.12%
CAVA	C	0.12%
GAP	F	0.12%
WTM	D	0.12%
BECN	F	0.12%
HALO	D	0.12%
OZK	F	0.12%
ARW	C	0.11%
GTLS	F	0.11%
XENE	D	0.11%
CFLT	F	0.11%
ORA	C	0.11%
PRIM	C	0.11%
U	D	0.11%
STRL	B	0.11%
CGNX	F	0.11%
SSD	B	0.11%
DNLI	C	0.11%
HAE	D	0.11%
AIT	B	0.11%
STWD	C	0.11%
PATH	D	0.11%
KRC	C	0.11%
BHVN	B	0.11%
S	C	0.11%
KOS	F	0.11%
PSN	A	0.11%
AMED	D	0.1%
CRDO	B	0.1%
POST	C	0.1%
BWIN	B	0.1%
FR	C	0.1%
GMED	D	0.1%
TXRH	A	0.1%
QTWO	C	0.1%
NXT	F	0.1%
TENB	F	0.1%
CRNX	C	0.1%
OLED	C	0.1%
LBRDA	B	0.1%
FLR	D	0.1%
EFSC	D	0.1%
TDC	D	0.1%
HCP	B	0.1%
VC	F	0.1%
SLAB	D	0.1%
EVR	C	0.1%
BRBR	C	0.09%
LYFT	D	0.09%
MGRC	D	0.09%
ICFI	C	0.09%
AUR	C	0.09%
WEN	D	0.09%
KD	F	0.09%
CAC	C	0.09%
RL	B	0.09%
HR	D	0.09%
ATKR	F	0.09%
PEGA	B	0.09%
TMDX	D	0.09%
LCID	D	0.09%
ZI	F	0.09%
ERII	B	0.09%
ST	F	0.09%
BILL	D	0.09%
JEF	A	0.09%
AMAL	D	0.09%
NXST	D	0.09%
BPMC	F	0.08%
RNA	B	0.08%
MAN	D	0.08%
CHWY	C	0.08%
EVRI	A	0.08%
CLVT	D	0.08%
BC	D	0.08%
RVMD	B	0.08%
RARE	C	0.08%
SBRA	C	0.08%
SPB	C	0.08%
ENOV	F	0.08%
CFR	D	0.08%
CRSP	F	0.08%
IMAX	D	0.08%
PRCT	C	0.08%
WU	D	0.08%
ESNT	C	0.08%
LITE	A	0.08%
AN	C	0.08%
W	D	0.08%
MHK	B	0.08%
MTSI	B	0.08%
TNET	F	0.08%
TEX	F	0.08%
SNX	C	0.08%
HWC	D	0.08%
VNO	A	0.08%
BPOP	D	0.08%
AZTA	F	0.08%
UPBD	F	0.07%
ACVA	C	0.07%
VITL	B	0.07%
PNTG	C	0.07%
CPRI	B	0.07%
VCTR	B	0.07%
EXPO	A	0.07%
COLM	B	0.07%
VVX	A	0.07%
PHAT	C	0.07%
XPRO	F	0.07%
TREX	D	0.07%
SASR	C	0.07%
PLYA	D	0.07%
VAC	D	0.07%
PRGO	F	0.07%
INTA	C	0.07%
RH	C	0.07%
PDM	C	0.07%
VRDN	A	0.07%
NTGR	C	0.07%
VRNS	C	0.07%
ACLX	C	0.07%
AVNT	C	0.07%
DRS	A	0.07%
CCCS	D	0.07%
DOCS	A	0.07%
CLF	D	0.07%
KTOS	A	0.07%
ESRT	C	0.07%
XRAY	D	0.07%
COLD	D	0.07%
PRKS	D	0.07%
HURN	D	0.06%
IBOC	D	0.06%
CIVI	F	0.06%
FROG	F	0.06%
GH	F	0.06%
EXP	C	0.06%
DCO	A	0.06%
LBRDK	B	0.06%
CMCO	D	0.06%
TDOC	D	0.06%
BYD	C	0.06%
APGE	C	0.06%
MNKD	C	0.06%
MEI	D	0.06%
VSEC	D	0.06%
CART	C	0.06%
HL	C	0.06%
TWST	D	0.06%
WRBY	C	0.06%
FOUR	B	0.06%
OSCR	C	0.06%
FUN	F	0.06%
KROS	B	0.06%
PAR	D	0.06%
KYMR	D	0.06%
JWN	D	0.06%
SPR	D	0.06%
APG	F	0.06%
CLH	C	0.06%
WKC	A	0.06%
AVPT	C	0.06%
IESC	B	0.06%
KE	F	0.06%
SQSP	A	0.06%
ALTM	D	0.06%
GERN	D	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	B	0.06%
CDE	C	0.06%
VRNT	F	0.06%
EPR	C	0.06%
HIMS	B	0.06%
HGV	F	0.06%
RCM	B	0.06%
ROIV	D	0.06%
CMP	D	0.06%
WTFC	D	0.06%
COMP	C	0.06%
CLNE	C	0.06%
TROX	D	0.06%
RKLB	B	0.06%
MRUS	D	0.06%
COKE	B	0.06%
GT	F	0.06%
EWTX	B	0.06%
ALHC	B	0.06%
NEP	D	0.06%
NUVL	B	0.06%
MIR	B	0.06%
LEVI	B	0.06%
PK	D	0.06%
RKT	C	0.06%
IDYA	F	0.06%
MQ	F	0.05%
SVRA	F	0.05%
BBIO	F	0.05%
SLNO	B	0.05%
SNDX	F	0.05%
IRON	C	0.05%
PLUG	D	0.05%
CAR	D	0.05%
KURA	F	0.05%
REVG	D	0.05%
ARVN	F	0.05%
FLO	D	0.05%
MMS	B	0.05%
JAMF	F	0.05%
COUR	F	0.05%
LGF.A	F	0.05%
SIBN	F	0.05%
CGEM	F	0.05%
BKD	D	0.05%
MGNI	D	0.05%
RBBN	B	0.05%
ZUO	F	0.05%
LOPE	D	0.05%
INVX	F	0.05%
RNG	F	0.05%
QS	F	0.05%
AI	F	0.05%
ALKT	D	0.05%
TXG	F	0.05%
PRO	F	0.05%
RXRX	F	0.05%
ZEUS	F	0.05%
KMPR	D	0.05%
ASH	F	0.05%
PAYO	B	0.05%
BEAM	F	0.05%
AVDX	F	0.05%
CBZ	F	0.05%
ACEL	C	0.05%
VYX	B	0.05%
MRC	D	0.05%
FLYW	F	0.05%
PRTA	F	0.05%
ARCT	D	0.05%
ETWO	F	0.05%
VERX	A	0.05%
MLTX	C	0.05%
CRI	D	0.05%
JANX	D	0.05%
CWAN	C	0.05%
CSTL	C	0.05%
PETQ	A	0.05%
HOUS	D	0.05%
MTTR	C	0.05%
EDR	A	0.05%
INFA	D	0.05%
UAA	B	0.05%
PYCR	D	0.05%
BROS	F	0.05%
WT	D	0.05%
QDEL	D	0.05%
DYN	D	0.05%
NRIX	D	0.05%
ARWR	F	0.05%
SAVA	D	0.05%
IVR	C	0.05%
AGIO	D	0.05%
PGRE	D	0.05%
MLNK	F	0.05%
CRAI	C	0.05%
CLDX	F	0.05%
ELVN	B	0.05%
RYN	C	0.05%
CHH	B	0.05%
ARQT	D	0.05%
OWL	A	0.05%
PTCT	C	0.05%
NOVA	D	0.05%
RXST	F	0.05%
SKY	B	0.05%
BNL	C	0.05%
COGT	C	0.05%
GEF	D	0.05%
IONS	F	0.05%
VREX	F	0.05%
AORT	B	0.05%
EE	A	0.05%
PD	F	0.05%
NYCB	D	0.05%
KVYO	B	0.05%
NEOG	D	0.05%
RUSHB	D	0.05%
EWCZ	F	0.05%
ARKO	C	0.05%
PLOW	C	0.05%
SHC	C	0.05%
INFN	C	0.05%
GEF	D	0.05%
MASI	B	0.05%
MBUU	D	0.05%
LIVN	B	0.05%
AXSM	B	0.05%
FIVN	F	0.05%
VERA	C	0.05%
CECO	D	0.05%
VNOM	B	0.05%
ZYME	C	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%
MDGL	F	0.04%
BASE	F	0.04%
MEG	F	0.04%
CNXC	F	0.04%
ETNB	F	0.04%
BRZE	F	0.04%
NUVB	F	0.04%
SPT	F	0.04%
SWTX	F	0.04%
CLSK	F	0.04%
ASAN	F	0.04%
EGY	D	0.04%
ASPN	D	0.04%
NVCR	F	0.04%
IMVT	F	0.04%
ANAB	D	0.04%
NCNO	F	0.04%
BE	F	0.04%
LBPH	D	0.04%
RCKT	F	0.04%
AMC	F	0.04%
FRSH	F	0.04%
ALEC	F	0.04%
TMCI	F	0.04%
CDNA	B	0.04%
DK	F	0.04%
NVAX	C	0.04%
ESTA	D	0.04%

ESML Underweight 266 Positions Relative to SPSM

Symbol	Grade	Weight
MLI	C	-0.6%
CSWI	B	-0.44%
MGY	B	-0.36%
CTRE	B	-0.35%
MATX	C	-0.34%
ASO	D	-0.32%
CORT	B	-0.29%
SANM	D	-0.28%
IAC	C	-0.28%
IIPR	C	-0.28%
NOG	F	-0.27%
TDW	F	-0.27%
LBRT	F	-0.26%
UCBI	B	-0.26%
CVCO	B	-0.26%
AX	D	-0.26%
PBH	D	-0.26%
GMS	C	-0.26%
ACLS	F	-0.25%
APLE	D	-0.25%
MSGS	A	-0.25%
HP	F	-0.24%
SKYW	B	-0.24%
STEP	A	-0.24%
OTTR	F	-0.24%
MGEE	C	-0.24%
SITM	B	-0.23%
DORM	C	-0.23%
CATY	D	-0.23%
PATK	C	-0.23%
BTU	B	-0.22%
GNW	C	-0.22%
YOU	C	-0.22%
FHB	D	-0.22%
WSFS	D	-0.22%
UNF	A	-0.21%
GFF	C	-0.21%
ABR	C	-0.21%
WAFD	D	-0.21%
AIN	F	-0.2%
SFNC	C	-0.2%
DIOD	F	-0.2%
FCPT	C	-0.2%
HUBG	D	-0.2%
VIRT	B	-0.19%
CNS	C	-0.19%
UE	C	-0.19%
CEIX	B	-0.19%
CARG	C	-0.19%
JJSF	B	-0.19%
PRFT	A	-0.19%
AKR	C	-0.18%
LGIH	C	-0.18%
PRK	D	-0.18%
STRA	F	-0.17%
KWR	D	-0.17%
VCEL	F	-0.17%
VSTO	D	-0.17%
OSIS	B	-0.17%
SBCF	D	-0.17%
JOE	D	-0.17%
ARCH	D	-0.17%
AMR	F	-0.17%
ASTH	A	-0.17%
SNEX	C	-0.17%
IBTX	D	-0.16%
BANF	D	-0.16%
URBN	F	-0.16%
GSHD	B	-0.16%
EVTC	D	-0.16%
IPAR	D	-0.16%
SHO	D	-0.16%
PHIN	C	-0.16%
ENVA	D	-0.16%
TRMK	D	-0.15%
KMT	C	-0.15%
VGR	B	-0.15%
ROIC	C	-0.15%
NATL	D	-0.15%
OFG	D	-0.15%
SXI	C	-0.15%
AMPH	C	-0.14%
TTMI	D	-0.14%
DRH	C	-0.14%
VIAV	B	-0.14%
LMAT	B	-0.14%
ADNT	D	-0.14%
EXTR	C	-0.14%
OI	D	-0.14%
JBLU	B	-0.13%
LKFN	F	-0.13%
NWBI	D	-0.13%
SUPN	D	-0.13%
FCF	D	-0.13%
MP	B	-0.13%
CHCO	D	-0.13%
GEO	F	-0.13%
GNL	D	-0.13%
FBNC	D	-0.13%
LZB	C	-0.13%
B	C	-0.13%
LGND	D	-0.13%
TRIP	F	-0.12%
LTC	D	-0.12%
STBA	D	-0.12%
PZZA	D	-0.12%
GTY	C	-0.12%
FBK	D	-0.12%
MCY	B	-0.12%
CASH	D	-0.12%
CENTA	F	-0.12%
HMN	B	-0.11%
APOG	B	-0.11%
PLAB	D	-0.11%
HTH	D	-0.11%
NTCT	B	-0.11%
KN	C	-0.11%
HOPE	D	-0.11%
UCTT	D	-0.11%
NHC	D	-0.11%
XNCR	D	-0.1%
USPH	F	-0.1%
SABR	B	-0.1%
DAN	D	-0.1%
OXM	F	-0.1%
BKE	D	-0.1%
RC	F	-0.1%
KW	B	-0.1%
WABC	F	-0.1%
UVV	D	-0.1%
DVAX	D	-0.1%
PRDO	D	-0.1%
SPNT	D	-0.1%
CHEF	C	-0.1%
TRUP	D	-0.1%
WOR	F	-0.1%
ALEX	D	-0.1%
CXW	F	-0.1%
NGVT	D	-0.1%
EFC	D	-0.09%
EIG	B	-0.09%
KALU	D	-0.09%
AHCO	C	-0.09%
MGPI	D	-0.09%
EXPI	C	-0.09%
CERT	F	-0.09%
NVEE	F	-0.09%
MSEX	C	-0.09%
LPG	F	-0.09%
ARI	F	-0.09%
COLL	B	-0.09%
NAVI	D	-0.09%
WS	D	-0.09%
GIII	C	-0.09%
BLMN	F	-0.09%
SAFT	D	-0.09%
WWW	A	-0.09%
PMT	C	-0.09%
NX	F	-0.09%
FDP	C	-0.08%
PFBC	D	-0.08%
DCOM	C	-0.08%
PARR	F	-0.08%
MRTN	F	-0.08%
RWT	C	-0.08%
QNST	B	-0.08%
CARS	F	-0.08%
SCSC	D	-0.08%
INVA	B	-0.08%
SDGR	F	-0.08%
FIZZ	D	-0.08%
AVNS	D	-0.08%
CSR	D	-0.08%
COHU	F	-0.08%
HRMY	D	-0.08%
SSTK	F	-0.07%
BLFS	D	-0.07%
NVRI	D	-0.07%
HCI	B	-0.07%
JACK	F	-0.07%
MD	B	-0.07%
VTOL	D	-0.07%
CNXN	C	-0.07%
CBRL	D	-0.07%
BRKL	D	-0.07%
AMSF	B	-0.07%
ODP	F	-0.07%
MATV	F	-0.07%
MCRI	B	-0.07%
NXRT	D	-0.07%
ANIP	F	-0.07%
SBSI	D	-0.07%
UTL	C	-0.07%
CRK	B	-0.07%
BGS	D	-0.06%
CFFN	D	-0.06%
RGR	F	-0.06%
PRLB	F	-0.06%
SPTN	B	-0.06%
BJRI	D	-0.06%
HAYN	B	-0.06%
TMP	D	-0.06%
SCVL	D	-0.06%
CENX	B	-0.06%
HFWA	D	-0.06%
INN	A	-0.06%
ASIX	A	-0.06%
CVI	F	-0.06%
HSII	C	-0.06%
SCHL	F	-0.06%
SVC	F	-0.06%
AOSL	D	-0.06%
HCSG	D	-0.06%
JBSS	F	-0.06%
VICR	B	-0.06%
SAH	D	-0.06%
GDEN	D	-0.05%
IIIN	F	-0.05%
MCW	F	-0.05%
NBR	F	-0.05%
TTGT	F	-0.05%
CHUY	B	-0.05%
TRST	D	-0.05%
MLAB	B	-0.05%
VIR	F	-0.05%
PCRX	F	-0.05%
FWRD	D	-0.05%
SWI	C	-0.05%
SHEN	F	-0.05%
ALGT	D	-0.05%
BSIG	D	-0.05%
SXC	F	-0.05%
PUMP	F	-0.05%
DXPE	C	-0.05%
EGBN	B	-0.05%
HSTM	B	-0.05%
REX	D	-0.05%
MATW	F	-0.05%
PRA	B	-0.05%
ETH	F	-0.05%
BFS	A	-0.04%
HTLD	F	-0.04%
TR	D	-0.04%
SLP	F	-0.04%
LQDT	C	-0.04%
GES	F	-0.04%
MYE	F	-0.04%
RGNX	F	-0.04%
CTKB	F	-0.04%
THRY	F	-0.04%
CEVA	B	-0.04%
WSR	C	-0.04%
RES	D	-0.04%
IRWD	F	-0.04%
UHT	C	-0.04%
EZPW	D	-0.04%
CNSL	A	-0.03%
CENT	F	-0.03%
NPK	F	-0.03%
WRLD	D	-0.03%
TWI	F	-0.03%
SNCY	D	-0.03%
USNA	F	-0.03%
HTZ	F	-0.03%
UFCS	D	-0.03%
CRSR	D	-0.02%