ESML vs. VFMF ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Vanguard U.S. Multifactor ETF (VFMF)

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

$45.18

Average Daily Volume

88,928

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

VFMF

Vanguard U.S. Multifactor ETF

VFMF Description

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively strong recent performance, strong fundamentals, and low prices relative to fundamentals as determined by the advisor. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$139.32

Average Daily Volume

9,517

Number of Holdings ^*

470

* may have additional holdings in another (foreign) market

Performance

Period	ESML	VFMF
30 Days	6.19%	4.74%
60 Days	6.82%	6.50%
90 Days	7.85%	6.64%
12 Months	32.19%	32.18%

176 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in VFMF	Overlap
ABCB	B	0.11%	0.14%	0.11%
ADMA	B	0.06%	0.05%	0.05%
AEO	F	0.08%	0.17%	0.08%
AGO	B	0.06%	0.17%	0.06%
AIT	B	0.13%	0.17%	0.13%
ALKS	C	0.1%	0.17%	0.1%
ALSN	B	0.26%	0.3%	0.26%
AMAL	B	0.1%	0.39%	0.1%
AMG	B	0.19%	0.32%	0.19%
AMWD	C	0.08%	0.2%	0.08%
AN	C	0.07%	0.14%	0.07%
ANDE	D	0.06%	0.34%	0.06%
ARCB	C	0.05%	0.08%	0.05%
ARW	D	0.09%	0.09%	0.09%
ASB	B	0.17%	0.16%	0.16%
ATEN	A	0.06%	0.03%	0.03%
ATGE	B	0.06%	0.19%	0.06%
ATKR	D	0.09%	0.02%	0.02%
AYI	B	0.34%	0.26%	0.26%
AZZ	A	0.07%	0.1%	0.07%
BCC	B	0.16%	0.52%	0.16%
BERY	C	0.17%	0.03%	0.03%
BHLB	B	0.2%	0.12%	0.12%
BJ	A	0.25%	0.05%	0.05%
BKU	A	0.06%	0.04%	0.04%
BLD	D	0.26%	0.19%	0.19%
BPOP	C	0.08%	0.67%	0.08%
BRY	F	0.03%	0.03%	0.03%
BWA	D	0.18%	0.06%	0.06%
BYD	B	0.06%	0.03%	0.03%
CACI	D	0.21%	0.07%	0.07%
CAL	F	0.04%	0.2%	0.04%
CALM	A	0.06%	0.28%	0.06%
CASY	A	0.52%	0.05%	0.05%
CBSH	B	0.23%	0.34%	0.23%
CBT	D	0.13%	0.05%	0.05%
CBU	B	0.06%	0.12%	0.06%
CCRN	F	0.03%	0.03%	0.03%
CDNA	D	0.03%	0.1%	0.03%
CIVI	D	0.05%	0.06%	0.05%
CLW	F	0.04%	0.05%	0.04%
CMC	B	0.22%	0.14%	0.14%
CNM	D	0.22%	0.07%	0.07%
CNO	B	0.2%	0.4%	0.2%
CNX	A	0.28%	0.11%	0.11%
COKE	C	0.06%	0.18%	0.06%
COOP	B	0.05%	0.17%	0.05%
CPF	B	0.15%	0.31%	0.15%
CPRX	C	0.05%	0.12%	0.05%
CR	A	0.19%	0.16%	0.16%
CRAI	C	0.05%	0.04%	0.04%
CRC	A	0.1%	0.15%	0.1%
CROX	D	0.15%	0.2%	0.15%
CRS	B	0.15%	0.05%	0.05%
CRUS	D	0.15%	0.06%	0.06%
CRVL	B	0.09%	0.09%	0.09%
CTS	C	0.07%	0.04%	0.04%
CVLT	B	0.22%	0.14%	0.14%
DLX	B	0.06%	0.17%	0.06%
DNOW	B	0.05%	0.12%	0.05%
EAT	A	0.16%	0.26%	0.16%
EFSC	B	0.11%	0.04%	0.04%
EPAC	C	0.13%	0.03%	0.03%
EPC	F	0.04%	0.07%	0.04%
EWBC	A	0.4%	0.59%	0.4%
EXP	B	0.06%	0.11%	0.06%
FBP	C	0.2%	0.5%	0.2%
FIBK	B	0.15%	0.12%	0.12%
FIX	A	0.38%	0.16%	0.16%
FLO	D	0.04%	0.06%	0.04%
FN	C	0.17%	0.06%	0.06%
FTI	A	0.35%	0.14%	0.14%
GAP	C	0.12%	0.08%	0.08%
GPI	B	0.19%	0.03%	0.03%
GPK	C	0.26%	0.03%	0.03%
GRBK	D	0.04%	0.1%	0.04%
HAFC	B	0.07%	0.13%	0.07%
HALO	F	0.11%	0.11%	0.11%
HBI	B	0.07%	0.13%	0.07%
HCC	B	0.05%	0.13%	0.05%
HIMS	B	0.07%	0.07%	0.07%
HNI	B	0.15%	0.06%	0.06%
HRB	D	0.19%	0.45%	0.19%
HWC	B	0.09%	0.12%	0.09%
HWKN	B	0.07%	0.19%	0.07%
IBOC	B	0.06%	0.34%	0.06%
IDCC	B	0.14%	0.07%	0.07%
IESC	C	0.08%	0.18%	0.08%
INDB	B	0.08%	0.09%	0.08%
INGR	C	0.42%	0.35%	0.35%
ITRI	C	0.2%	0.1%	0.1%
JEF	A	0.11%	0.19%	0.11%
JELD	F	0.03%	0.09%	0.03%
JWN	D	0.06%	0.07%	0.06%
JXN	C	0.14%	0.1%	0.1%
KBH	D	0.2%	0.16%	0.16%
KD	B	0.1%	0.16%	0.1%
KELYA	F	0.03%	0.36%	0.03%
KNTK	A	0.18%	0.12%	0.12%
KTB	B	0.16%	0.15%	0.15%
LNTH	D	0.1%	0.14%	0.1%
LOPE	C	0.05%	0.06%	0.05%
LPX	B	0.17%	0.21%	0.17%
LRN	A	0.13%	0.1%	0.1%
M	F	0.13%	0.22%	0.13%
MAN	F	0.06%	0.02%	0.02%
MBUU	B	0.06%	0.04%	0.04%
MEDP	D	0.15%	0.15%	0.15%
MHK	D	0.07%	0.22%	0.07%
MHO	D	0.05%	0.25%	0.05%
MLKN	F	0.04%	0.23%	0.04%
MOG.A	B	0.24%	0.09%	0.09%
MOV	D	0.06%	0.03%	0.03%
MRC	B	0.05%	0.17%	0.05%
MTG	C	0.23%	0.71%	0.23%
MTH	D	0.17%	0.07%	0.07%
MTUS	C	0.04%	0.07%	0.04%
MUR	D	0.13%	0.13%	0.13%
MUSA	B	0.34%	0.14%	0.14%
NMIH	C	0.09%	0.31%	0.09%
NSIT	F	0.13%	0.24%	0.13%
NTGR	B	0.08%	0.07%	0.07%
NXST	C	0.09%	0.04%	0.04%
OGN	F	0.09%	0.12%	0.09%
OMF	A	0.2%	0.46%	0.2%
OMI	F	0.04%	0.16%	0.04%
ORI	A	0.13%	0.45%	0.13%
PINC	B	0.14%	0.18%	0.14%
PLUS	F	0.06%	0.18%	0.06%
PR	B	0.19%	0.16%	0.16%
PRI	B	0.23%	0.28%	0.23%
PSMT	D	0.05%	0.08%	0.05%
PTGX	D	0.05%	0.12%	0.05%
PVH	C	0.16%	0.39%	0.16%
R	B	0.29%	0.16%	0.16%
RDN	D	0.09%	0.21%	0.09%
REVG	C	0.05%	0.18%	0.05%
RL	C	0.09%	0.19%	0.09%
RNR	C	0.24%	0.06%	0.06%
ROCK	C	0.06%	0.12%	0.06%
RRC	B	0.25%	0.03%	0.03%
SFM	A	0.43%	0.16%	0.16%
SHOO	F	0.11%	0.04%	0.04%
SIG	B	0.1%	0.3%	0.1%
SLM	A	0.16%	0.41%	0.16%
SLVM	B	0.05%	0.15%	0.05%
SM	B	0.06%	0.13%	0.06%
SSD	F	0.1%	0.12%	0.1%
STRL	A	0.13%	0.07%	0.07%
TBBK	B	0.08%	0.16%	0.08%
TEX	F	0.08%	0.18%	0.08%
THC	D	0.23%	0.2%	0.2%
THO	B	0.12%	0.21%	0.12%
TILE	B	0.08%	0.18%	0.08%
TMHC	C	0.17%	0.18%	0.17%
TNC	D	0.05%	0.04%	0.04%
TNL	A	0.16%	0.15%	0.15%
TOL	B	0.27%	0.25%	0.25%
TPH	D	0.14%	0.13%	0.13%
TPR	B	0.29%	0.14%	0.14%
UFPT	C	0.05%	0.05%	0.05%
UNM	A	0.25%	0.28%	0.25%
UPBD	B	0.06%	0.08%	0.06%
VCTR	B	0.07%	0.18%	0.07%
VERX	A	0.06%	0.1%	0.06%
VFC	C	0.18%	0.07%	0.07%
VNT	C	0.15%	0.13%	0.13%
WCC	B	0.24%	0.12%	0.12%
WEX	D	0.25%	0.04%	0.04%
WFRD	D	0.15%	0.22%	0.15%
WGO	C	0.12%	0.04%	0.04%
WHD	B	0.12%	0.1%	0.1%
WMS	F	0.21%	0.07%	0.07%
WNC	C	0.05%	0.03%	0.03%
WU	F	0.07%	0.06%	0.06%
ZEUS	C	0.05%	0.12%	0.05%

ESML Overweight 728 Positions Relative to VFMF

Symbol	Grade	Weight
JHG	B	0.51%
USFD	A	0.49%
CVNA	B	0.48%
GWRE	A	0.43%
NTNX	B	0.36%
KBR	F	0.35%
JLL	D	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%
EHC	B	0.29%
RGLD	C	0.29%
SUM	B	0.28%
DTM	A	0.28%
COHR	B	0.28%
SAIA	B	0.28%
ITT	A	0.28%
SCI	B	0.27%
AVT	C	0.27%
UMBF	B	0.27%
WBS	A	0.27%
SSB	B	0.27%
AXTA	B	0.27%
MWA	B	0.25%
DCI	B	0.25%
AAON	B	0.25%
PRGS	A	0.24%
FTAI	A	0.24%
UGI	C	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%
ARMK	B	0.23%
AWI	A	0.23%
EXLS	B	0.23%
ALK	B	0.23%
CW	C	0.23%
FHN	A	0.23%
SOFI	B	0.22%
FTDR	B	0.22%
LAD	A	0.22%
GNRC	C	0.22%
FELE	B	0.22%
WAL	B	0.22%
AR	B	0.22%
EGP	D	0.21%
CDP	C	0.21%
CMA	B	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%
HOG	D	0.2%
FND	D	0.2%
LECO	C	0.2%
BDC	C	0.2%
KNSL	B	0.2%
WHR	B	0.2%
PLNT	A	0.2%
TGNA	B	0.2%
MTN	C	0.2%
CUBE	C	0.2%
NFG	A	0.2%
PCTY	C	0.2%
ZION	B	0.2%
ENSG	C	0.2%
RLI	A	0.2%
HHH	B	0.2%
WK	B	0.2%
BFAM	D	0.2%
ZWS	B	0.2%
AVA	A	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%
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%
NVT	B	0.19%
BANR	B	0.18%
SF	B	0.18%
SRPT	F	0.18%
NYT	D	0.18%
SPXC	A	0.18%
THG	A	0.18%
GKOS	B	0.18%
MORN	B	0.18%
DUOL	A	0.18%
EPRT	B	0.18%
MDU	D	0.18%
ENLC	A	0.18%
AEIS	C	0.17%
LAZ	B	0.17%
CHX	C	0.17%
PCH	F	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
PLXS	B	0.17%
VVV	D	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%
HQY	A	0.16%
SPSC	D	0.16%
TKO	A	0.16%
ACIW	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%
CFLT	B	0.15%
VLY	B	0.15%
ECG	C	0.15%
CADE	B	0.15%
WH	B	0.15%
MMSI	A	0.15%
FSS	B	0.15%
ANF	F	0.15%
AM	A	0.15%
NOV	C	0.15%
LSCC	D	0.15%
RRX	B	0.15%
ITCI	C	0.15%
MOD	A	0.15%
GTLB	B	0.15%
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%
SMAR	B	0.14%
PRIM	A	0.14%
ACA	A	0.14%
ALTR	B	0.14%
RMBS	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%
HESM	B	0.13%
BRKR	D	0.13%
CAVA	B	0.13%
MAT	D	0.13%
PDCO	F	0.13%
FYBR	C	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%
BOX	B	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%
QTWO	A	0.12%
KOS	D	0.12%
RKLB	A	0.12%
BLKB	B	0.12%
S	B	0.12%
GL	C	0.12%
ABG	C	0.12%
CRDO	B	0.12%
WERN	C	0.12%
MTX	B	0.12%
ADT	C	0.12%
HAE	C	0.12%
FULT	A	0.12%
CSGS	B	0.11%
PEGA	B	0.11%
PATH	C	0.11%
TXRH	B	0.11%
DXC	B	0.11%
ORA	B	0.11%
KRC	B	0.11%
GMED	A	0.11%
AUB	B	0.11%
VKTX	F	0.11%
LYFT	C	0.11%
XENE	D	0.11%
WDFC	B	0.11%
CRNX	C	0.11%
APPF	B	0.11%
ECPG	C	0.11%
SON	F	0.11%
ADC	A	0.11%
MRCY	C	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%
PJT	A	0.1%
AROC	A	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%
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%
APAM	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%
CGNX	D	0.1%
LCII	C	0.1%
ALTM	B	0.1%
PSN	D	0.1%
FIVE	F	0.1%
LEA	F	0.1%
VNO	C	0.09%
AMED	F	0.09%
RNA	C	0.09%
ABM	B	0.09%
UPST	B	0.09%
U	C	0.09%
KFY	B	0.09%
CNK	C	0.09%
WEN	D	0.09%
POST	C	0.09%
SHAK	C	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%
SJW	F	0.09%
MARA	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%
AVPT	A	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%
AUR	C	0.08%
EWTX	C	0.08%
BPMC	B	0.08%
BL	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%
INTA	B	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%
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%
HR	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%
GT	C	0.07%
HGV	C	0.07%
ESRT	C	0.07%
SEE	C	0.07%
PECO	A	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%
GH	B	0.07%
BROS	A	0.07%
XHR	B	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
BC	C	0.07%
WTFC	A	0.07%
WRBY	A	0.07%
PI	D	0.07%
SXT	C	0.07%
CCCS	B	0.07%
NWN	A	0.07%
OUT	A	0.07%
PAR	A	0.07%
UNFI	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%
TMCI	C	0.06%
CLSK	C	0.06%
IRON	B	0.06%
PRO	C	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%
PTCT	B	0.06%
PLAY	D	0.06%
EXPO	D	0.06%
AXSM	B	0.06%
AGIO	C	0.06%
NRIX	C	0.06%
LXP	D	0.06%
VRNT	C	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%
CLH	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%
CAKE	C	0.06%
RUSHB	C	0.06%
KROS	D	0.06%
FL	F	0.06%
VREX	B	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%
OWL	A	0.06%
NVST	B	0.06%
PPBI	C	0.06%
ACVA	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%
CLB	B	0.06%
MNKD	C	0.06%
CCS	D	0.06%
TALO	C	0.06%
TGI	B	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%
KREF	C	0.06%
VRNS	D	0.06%
CLF	F	0.06%
MRUS	F	0.06%
FOUR	A	0.06%
VRDN	D	0.06%
PDM	D	0.06%
PAHC	C	0.06%
MASI	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%
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%
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%
CNMD	C	0.05%
VSTS	C	0.05%
FLG	D	0.05%
CDE	C	0.05%
CLVT	D	0.05%
XRAY	F	0.05%
GOGO	C	0.05%
ACEL	C	0.05%
BASE	B	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%
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%
PRAA	D	0.05%
HAIN	D	0.05%
INFN	D	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%
MTTR	B	0.05%
GO	C	0.05%
KYMR	D	0.05%
HAYW	B	0.05%
EMBC	C	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%
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%
RNG	C	0.05%
HLIT	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%
NCNO	C	0.05%
COLD	D	0.05%
CALX	D	0.05%
NBHC	C	0.05%
AGYS	A	0.05%
ALKT	B	0.05%
PD	C	0.05%
RCKT	F	0.04%
FOXF	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%
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	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%
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%
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%
CWT	C	0.04%
THS	D	0.04%
UCB	A	0.04%
KRYS	C	0.04%
RXRX	F	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%
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%
MQ	D	0.03%
STAA	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 294 Positions Relative to VFMF

Symbol	Grade	Weight
WFC	A	-1.25%
AFL	B	-1.08%
AIG	B	-1.02%
BK	A	-0.98%
ABBV	F	-0.93%
GOOG	C	-0.9%
MMM	D	-0.9%
VLO	C	-0.85%
MPC	D	-0.83%
QCOM	F	-0.82%
HCA	F	-0.82%
AXP	A	-0.82%
META	D	-0.82%
PM	B	-0.81%
MO	A	-0.78%
AMAT	F	-0.78%
WMT	A	-0.78%
T	A	-0.77%
TMUS	B	-0.75%
APO	B	-0.74%
KR	B	-0.73%
PHM	D	-0.72%
JPM	A	-0.72%
MLI	B	-0.71%
MCK	A	-0.71%
SYF	B	-0.71%
HIG	B	-0.7%
TGT	F	-0.65%
OFG	B	-0.64%
LMT	D	-0.64%
NVDA	B	-0.63%
IBM	C	-0.61%
FANG	C	-0.6%
KMB	C	-0.59%
CFG	B	-0.57%
FDX	B	-0.54%
CAH	B	-0.53%
COST	A	-0.52%
BKNG	A	-0.52%
VZ	C	-0.52%
KLAC	F	-0.52%
EOG	A	-0.51%
FI	A	-0.51%
CI	D	-0.5%
GOOGL	C	-0.5%
ANET	C	-0.5%
CAT	B	-0.48%
XOM	B	-0.47%
MRK	D	-0.46%
CL	D	-0.46%
COLL	F	-0.46%
GM	C	-0.44%
TT	A	-0.44%
OC	A	-0.44%
GILD	C	-0.43%
AZO	C	-0.43%
TJX	A	-0.42%
FITB	B	-0.39%
JNJ	C	-0.38%
UTHR	C	-0.37%
UFPI	C	-0.37%
RTX	D	-0.36%
NWS	A	-0.36%
PRDO	B	-0.34%
EIG	B	-0.34%
CBOE	C	-0.34%
WRB	A	-0.33%
CVX	A	-0.33%
SCS	C	-0.32%
CASH	B	-0.3%
NTB	B	-0.3%
GIII	D	-0.3%
ACT	C	-0.29%
GFF	A	-0.29%
WSM	C	-0.28%
SRCE	B	-0.28%
TK	D	-0.27%
PSX	C	-0.27%
FCX	F	-0.26%
DHI	F	-0.26%
SKX	D	-0.26%
TPC	C	-0.26%
FCF	B	-0.25%
PFBC	B	-0.25%
WSFS	B	-0.24%
PHIN	A	-0.24%
JBL	C	-0.24%
ASO	F	-0.24%
CPAY	A	-0.23%
STT	B	-0.23%
VIRT	A	-0.23%
DELL	B	-0.23%
FNF	B	-0.23%
WTTR	A	-0.23%
EME	A	-0.22%
MBIN	F	-0.22%
COP	C	-0.22%
GNW	A	-0.21%
SIGA	F	-0.21%
EQH	C	-0.2%
CVCO	A	-0.2%
AMKR	D	-0.2%
AX	B	-0.2%
SPOT	B	-0.2%
ASC	F	-0.2%
PPC	C	-0.2%
GMS	B	-0.2%
PGR	A	-0.2%
AMRX	C	-0.19%
AHCO	F	-0.19%
HPQ	B	-0.19%
PKG	A	-0.19%
BOKF	B	-0.19%
CRM	B	-0.19%
LEN	D	-0.19%
STNG	F	-0.18%
NVR	D	-0.18%
STLD	B	-0.18%
IMKTA	C	-0.18%
BELFB	C	-0.18%
PATK	C	-0.18%
CNOB	B	-0.18%
BLX	B	-0.18%
HP	C	-0.18%
SKYW	C	-0.17%
CTRA	B	-0.17%
PLAB	C	-0.17%
URI	C	-0.17%
AMP	A	-0.17%
NTAP	C	-0.17%
COR	B	-0.17%
WMK	C	-0.16%
BV	C	-0.16%
STBA	B	-0.16%
DECK	A	-0.16%
CF	A	-0.16%
IDT	B	-0.16%
BG	D	-0.16%
DVA	C	-0.16%
BAC	A	-0.16%
GNK	D	-0.16%
SXC	A	-0.16%
KEX	B	-0.16%
ESAB	C	-0.15%
CRBG	B	-0.15%
PFGC	B	-0.15%
RMD	C	-0.15%
CHRD	D	-0.15%
DHT	F	-0.15%
PYPL	B	-0.15%
SNA	A	-0.15%
DKS	D	-0.15%
SCSC	C	-0.15%
LDOS	C	-0.15%
CHCO	B	-0.15%
WABC	B	-0.14%
DAKT	C	-0.14%
ETD	C	-0.14%
NR	B	-0.14%
CNXN	C	-0.14%
TNK	F	-0.14%
MCY	A	-0.14%
BBW	C	-0.14%
PUMP	C	-0.14%
ENS	F	-0.14%
PCAR	B	-0.13%
SPOK	B	-0.13%
NUE	C	-0.13%
EXPE	B	-0.13%
NMRK	C	-0.13%
INSW	F	-0.12%
RCL	A	-0.12%
PSTG	D	-0.12%
CTSH	B	-0.12%
UA	C	-0.12%
CYH	F	-0.12%
IMMR	C	-0.12%
URBN	C	-0.12%
AGX	B	-0.12%
BLDR	D	-0.12%
SPTN	D	-0.11%
PH	A	-0.11%
SCHL	F	-0.11%
LPG	F	-0.11%
SBSI	C	-0.11%
CEIX	A	-0.11%
REX	D	-0.11%
AMR	C	-0.11%
MATX	C	-0.11%
RS	B	-0.11%
GPC	D	-0.1%
DOX	D	-0.1%
MPWR	F	-0.1%
QCRH	B	-0.1%
UHS	D	-0.1%
FLWS	D	-0.1%
LYB	F	-0.1%
SANM	B	-0.1%
GRND	A	-0.09%
APOG	C	-0.09%
OXM	F	-0.09%
SWKS	F	-0.09%
NAVI	F	-0.09%
GPOR	B	-0.09%
WLY	B	-0.09%
DXPE	C	-0.09%
FDP	B	-0.08%
SFNC	C	-0.08%
MTDR	B	-0.08%
SD	D	-0.08%
HSTM	B	-0.08%
ACCO	C	-0.08%
DOLE	D	-0.07%
OVV	B	-0.07%
USAP	B	-0.07%
CNA	C	-0.07%
DESP	B	-0.07%
EBAY	D	-0.07%
ZIMV	D	-0.07%
CTAS	B	-0.07%
PLPC	B	-0.07%
BBSI	B	-0.07%
HVT	D	-0.07%
CG	B	-0.07%
LEN	D	-0.07%
RES	D	-0.07%
LZB	B	-0.07%
CSL	C	-0.07%
NHC	C	-0.06%
UTI	B	-0.06%
GOGL	F	-0.06%
C	A	-0.06%
CENTA	C	-0.06%
JILL	C	-0.06%
FRME	B	-0.06%
CATY	B	-0.06%
AMZN	C	-0.06%
PFG	D	-0.06%
NAT	F	-0.06%
AGM	B	-0.06%
OSUR	F	-0.05%
TCBI	C	-0.05%
GRNT	B	-0.05%
NOG	B	-0.05%
BKE	B	-0.05%
LBRT	D	-0.05%
SCVL	F	-0.05%
NX	C	-0.05%
BBY	D	-0.05%
SN	D	-0.05%
MET	A	-0.05%
DASH	B	-0.05%
BTU	B	-0.05%
ZUMZ	B	-0.05%
SUPN	C	-0.05%
YOU	D	-0.05%
PRK	B	-0.05%
MD	C	-0.05%
LQDT	B	-0.05%
OSBC	A	-0.05%
LYTS	B	-0.05%
SMLR	B	-0.04%
HOV	D	-0.04%
HEES	C	-0.04%
GOLF	B	-0.04%
HSII	B	-0.04%
STGW	A	-0.04%
SXI	B	-0.04%
KFRC	D	-0.04%
MCRI	A	-0.04%
MGY	A	-0.04%
NSSC	D	-0.04%
VTRS	A	-0.04%
GEO	B	-0.04%
PRMW	C	-0.04%
HPE	B	-0.04%
UVSP	B	-0.03%
BSIG	A	-0.03%
STRA	C	-0.03%
PRLB	B	-0.03%
KMT	B	-0.03%
HFWA	C	-0.03%
TPL	A	-0.03%
TCBK	C	-0.03%
DDS	B	-0.03%
INGN	C	-0.02%
VRA	C	-0.02%
RGP	F	-0.02%
BUSE	B	-0.02%
PEBO	B	-0.02%
FFIV	B	-0.02%
SB	F	-0.02%
ADTN	A	-0.02%
MBWM	B	-0.02%