ESML vs. XBI ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to SPDR S&P Biotech ETF (XBI)

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

$42.06

Average Daily Volume

118,469

Number of Holdings ^*

903

* may have additional holdings in another (foreign) market

XBI

SPDR S&P Biotech ETF

XBI Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the biotechnology segment of a U.S. total market composite index. In seeking to track the performance of the S&P Biotechnology Select Industry Index (the "index"), the fund employs a replication strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the biotechnology industry group of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$103.33

Average Daily Volume

7,532,424

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	ESML	XBI
30 Days	4.99%	2.48%
60 Days	4.42%	5.97%
90 Days	10.08%	11.99%
12 Months	23.89%	39.19%

63 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in XBI	Overlap
ACLX	B	1.0%	0.89%	0.89%
ADMA	B	1.0%	0.68%	0.68%
AGIO	C	1.0%	0.48%	0.48%
ALEC	C	1.0%	0.08%	0.08%
ALKS	C	1.0%	1.06%	1.0%
ANAB	C	1.0%	0.26%	0.26%
APLS	F	1.0%	1.23%	1.0%
ARCT	F	1.0%	0.21%	0.21%
ARQT	C	1.0%	0.38%	0.38%
ARWR	F	1.0%	0.41%	0.41%
BBIO	D	1.0%	1.01%	1.0%
BEAM	F	1.0%	0.56%	0.56%
BPMC	F	1.0%	1.1%	1.0%
CDNA	C	1.0%	0.36%	0.36%
CGEM	D	1.0%	0.25%	0.25%
CLDX	C	1.0%	0.69%	0.69%
COGT	C	1.0%	0.26%	0.26%
CPRX	B	1.0%	0.52%	0.52%
CRNX	C	1.0%	0.79%	0.79%
CRSP	F	1.0%	1.16%	1.0%
CYTK	F	1.0%	1.96%	1.0%
DNLI	C	1.0%	0.59%	0.59%
DYN	D	1.0%	0.66%	0.66%
ETNB	F	1.0%	0.16%	0.16%
GERN	D	1.0%	0.6%	0.6%
HALO	C	1.0%	1.1%	1.0%
IDYA	F	1.0%	0.6%	0.6%
IMVT	D	1.0%	0.56%	0.56%
INSM	D	1.0%	1.15%	1.0%
IONS	F	1.0%	0.96%	0.96%
IRON	D	1.0%	0.16%	0.16%
JANX	C	1.0%	0.5%	0.5%
KROS	C	1.0%	0.45%	0.45%
KRYS	D	1.0%	1.13%	1.0%
KURA	D	1.0%	0.34%	0.34%
KYMR	C	1.0%	0.56%	0.56%
MDGL	F	1.0%	1.18%	1.0%
MNKD	C	1.0%	0.3%	0.3%
MYGN	C	1.0%	0.34%	0.34%
NRIX	C	1.0%	0.45%	0.45%
NTLA	F	1.0%	0.6%	0.6%
NTRA	C	1.0%	2.84%	1.0%
NUVL	C	1.0%	0.73%	0.73%
NVAX	D	1.0%	0.43%	0.43%
PCVX	C	1.0%	1.49%	1.0%
PRTA	F	1.0%	0.28%	0.28%
PTCT	C	1.0%	0.45%	0.45%
PTGX	C	1.0%	0.48%	0.48%
RARE	B	1.0%	1.01%	1.0%
RCKT	D	1.0%	0.31%	0.31%
RCUS	C	1.0%	0.23%	0.23%
RNA	D	1.0%	0.62%	0.62%
RVMD	C	1.0%	1.08%	1.0%
RXRX	F	1.0%	0.36%	0.36%
SNDX	F	1.0%	0.44%	0.44%
SRPT	D	1.0%	2.5%	1.0%
SVRA	D	1.0%	0.08%	0.08%
SWTX	F	1.0%	0.78%	0.78%
TGTX	C	1.0%	1.08%	1.0%
TWST	D	1.0%	0.64%	0.64%
VERA	C	1.0%	0.6%	0.6%
VKTX	C	1.0%	2.91%	1.0%
VRDN	C	1.0%	0.41%	0.41%

ESML Overweight 840 Positions Relative to XBI

Symbol	Grade	Weight
GDOT	C	1.0%
MC	B	1.0%
DEI	B	1.0%
WOLF	F	1.0%
GPRE	F	1.0%
SEDG	F	1.0%
AGL	F	1.0%
SPT	F	1.0%
ASPN	D	1.0%
CAR	F	1.0%
CLSK	F	1.0%
CMP	D	1.0%
UAA	C	1.0%
CXM	F	1.0%
MEG	F	1.0%
BASE	F	1.0%
STAA	F	1.0%
TMCI	F	1.0%
ASAN	F	1.0%
VSAT	F	1.0%
NCNO	D	1.0%
FORM	F	1.0%
CRMT	F	1.0%
EGY	D	1.0%
BRY	F	1.0%
IART	F	1.0%
EWTX	B	1.0%
AI	F	1.0%
FOXF	D	1.0%
MTUS	F	1.0%
BE	F	1.0%
PENN	D	1.0%
HCC	F	1.0%
SGH	F	1.0%
PLUG	F	1.0%
PBI	D	1.0%
RNG	F	1.0%
RBBN	D	1.0%
PRO	F	1.0%
AXL	F	1.0%
RUSHA	C	1.0%
BRZE	F	1.0%
VSCO	C	1.0%
PTEN	F	1.0%
HLX	F	1.0%
CDE	C	1.0%
SAVA	C	1.0%
HPP	D	1.0%
ICHR	F	1.0%
CLW	F	1.0%
MMS	C	1.0%
UEC	D	1.0%
PFS	B	1.0%
DGII	D	1.0%
ALRM	F	1.0%
LBRDK	F	1.0%
ARLO	F	1.0%
IESC	D	1.0%
OMI	D	1.0%
COUR	D	1.0%
ZEUS	F	1.0%
FRSH	F	1.0%
ARCB	D	1.0%
RKLB	C	1.0%
EE	B	1.0%
LESL	F	1.0%
MQ	F	1.0%
PLAY	F	1.0%
PAYO	B	1.0%
ALKT	D	1.0%
UPST	C	1.0%
ASTE	D	1.0%
PLRX	F	1.0%
MLTX	C	1.0%
LGF.A	F	1.0%
VYX	D	1.0%
MNRO	D	1.0%
ARKO	C	1.0%
KVYO	C	1.0%
HL	C	1.0%
AMBC	D	1.0%
MEI	D	1.0%
QS	F	1.0%
MRC	D	1.0%
DNOW	D	1.0%
LOPE	D	1.0%
TGI	F	1.0%
FNA	F	1.0%
OWL	C	1.0%
RAMP	F	1.0%
JAMF	D	1.0%
NVCR	D	1.0%
CAKE	D	1.0%
CWAN	B	1.0%
MGNI	D	1.0%
TXG	D	1.0%
REVG	D	1.0%
PRAA	D	1.0%
ESTA	D	1.0%
SLNO	C	1.0%
AVDX	F	1.0%
GOGO	F	1.0%
ZUO	F	1.0%
NYCB	D	1.0%
ASH	D	1.0%
MLKN	D	1.0%
MASI	F	1.0%
HZO	C	1.0%
HOUS	C	1.0%
CBZ	F	1.0%
ATEN	C	1.0%
VVI	D	1.0%
XRX	D	1.0%
WT	D	1.0%
ALTM	F	1.0%
FLO	C	1.0%
ATGE	D	1.0%
KMPR	D	1.0%
CHH	C	1.0%
FLGT	D	1.0%
VRTS	F	1.0%
SLVM	B	1.0%
SBH	B	1.0%
JELD	D	1.0%
GBX	C	1.0%
GRBK	B	1.0%
XPEL	D	1.0%
AGYS	D	1.0%
DLX	F	1.0%
CCRN	F	1.0%
AMC	F	1.0%
CC	F	1.0%
VERX	D	1.0%
FFBC	D	1.0%
PSMT	B	1.0%
CAL	F	1.0%
NBHC	D	1.0%
DK	F	1.0%
HAYW	C	1.0%
MTTR	C	1.0%
EPC	F	1.0%
INFA	D	1.0%
BKD	D	1.0%
CRAI	D	1.0%
TDOC	D	1.0%
CMCO	F	1.0%
WNC	F	1.0%
ACEL	C	1.0%
SKY	B	1.0%
DOCN	A	1.0%
LIVN	D	1.0%
APGE	C	1.0%
EDR	A	1.0%
ARVN	F	1.0%
SMPL	D	1.0%
OSCR	B	1.0%
NABL	D	1.0%
NUVB	D	1.0%
CUBI	F	1.0%
EXP	B	1.0%
CWT	C	1.0%
SMP	C	1.0%
LBPH	D	1.0%
CECO	D	1.0%
WRBY	D	1.0%
ETWO	C	1.0%
NEOG	D	1.0%
GO	F	1.0%
KELYA	D	1.0%
GEF	D	1.0%
KLG	C	1.0%
THRM	D	1.0%
RH	B	1.0%
INFN	B	1.0%
PETQ	B	1.0%
TROX	F	1.0%
IVR	D	1.0%
BROS	D	1.0%
BGC	B	1.0%
ELVN	D	1.0%
PGRE	C	1.0%
PDFS	F	1.0%
GEF	D	1.0%
RUSHB	C	1.0%
MBUU	D	1.0%
SFBS	B	1.0%
AORT	D	1.0%
HIMS	D	1.0%
FTRE	D	1.0%
OMCL	C	1.0%
RYN	C	1.0%
FLYW	F	1.0%
MTRN	F	1.0%
EWCZ	F	1.0%
VBTX	B	1.0%
AHH	C	1.0%
FOUR	C	1.0%
MMI	C	1.0%
AGO	C	1.0%
QDEL	D	1.0%
VREX	F	1.0%
CNMD	D	1.0%
CALM	A	1.0%
AWR	B	1.0%
CART	A	1.0%
ALHC	C	1.0%
COOP	C	1.0%
BYD	C	1.0%
YELP	F	1.0%
PYCR	D	1.0%
HELE	D	1.0%
MXL	F	1.0%
BNL	B	1.0%
FIVN	F	1.0%
PD	F	1.0%
SMTC	C	1.0%
PRG	A	1.0%
POWL	C	1.0%
CSTL	C	1.0%
SG	C	1.0%
HAFC	C	1.0%
NOVA	C	1.0%
UNFI	C	1.0%
VSTS	D	1.0%
SHC	C	1.0%
PLOW	C	1.0%
MLNK	C	1.0%
CRI	D	1.0%
UFPT	B	1.0%
NEO	C	1.0%
CWEN	C	1.0%
SIBN	D	1.0%
ZYME	B	1.0%
HURN	C	1.0%
CLB	D	1.0%
HI	F	1.0%
NVST	D	1.0%
FROG	F	1.0%
CNXC	F	1.0%
AAP	F	1.0%
PPBI	D	1.0%
POWI	F	1.0%
MHO	B	1.0%
DCO	A	1.0%
NBTB	D	1.0%
ROCK	D	1.0%
EMBC	C	1.0%
KSS	F	1.0%
SM	F	1.0%
MIR	D	1.0%
OII	D	1.0%
LEG	D	1.0%
PAHC	B	1.0%
IBOC	D	1.0%
FUN	D	1.0%
THS	C	1.0%
APG	D	1.0%
AXSM	C	1.0%
TILE	B	1.0%
VNOM	C	1.0%
HGV	F	1.0%
CBU	C	1.0%
BKU	C	1.0%
BDN	B	1.0%
MODG	F	1.0%
LEVI	C	1.0%
KE	F	1.0%
CLH	A	1.0%
RXST	C	1.0%
MOV	F	1.0%
JWN	C	1.0%
SATS	C	1.0%
WKC	B	1.0%
TARS	C	1.0%
AIR	C	1.0%
BANC	B	1.0%
NTGR	C	1.0%
ADUS	B	1.0%
PAR	B	1.0%
CLNE	C	1.0%
GT	F	1.0%
NEP	D	1.0%
GTES	C	1.0%
VSEC	C	1.0%
MPW	C	1.0%
EYE	F	1.0%
VITL	D	1.0%
AVPT	B	1.0%
ATRC	C	1.0%
HBI	B	1.0%
TNC	F	1.0%
SQSP	A	1.0%
SPR	D	1.0%
VVX	D	1.0%
SKT	B	1.0%
SONO	D	1.0%
CIVI	F	1.0%
FFIN	B	1.0%
TNDM	C	1.0%
HAIN	D	1.0%
ANDE	D	1.0%
TALO	D	1.0%
PK	D	1.0%
PNTG	B	1.0%
COMP	C	1.0%
EPR	B	1.0%
ACVA	B	1.0%
PBF	F	1.0%
VCTR	B	1.0%
RCM	C	1.0%
EXPO	B	1.0%
NARI	F	1.0%
ENR	D	1.0%
UPBD	F	1.0%
HLIT	C	1.0%
TDS	C	1.0%
DOCS	B	1.0%
VRNT	F	1.0%
CLF	F	1.0%
WTFC	C	1.0%
COKE	C	1.0%
PEB	D	1.0%
VAC	F	1.0%
GH	D	1.0%
JBT	D	1.0%
CWK	B	1.0%
INTA	A	1.0%
JBGS	C	1.0%
CPRI	D	1.0%
CTS	D	1.0%
BL	D	1.0%
FL	D	1.0%
TREX	D	1.0%
RKT	C	1.0%
VRNS	C	1.0%
LITE	B	1.0%
AUR	C	1.0%
AVNT	B	1.0%
LXP	B	1.0%
SEM	D	1.0%
WD	B	1.0%
XHR	B	1.0%
PLYA	D	1.0%
PGNY	F	1.0%
ENV	C	1.0%
COLM	C	1.0%
MRUS	D	1.0%
AAT	B	1.0%
W	D	1.0%
SEE	D	1.0%
PDM	B	1.0%
ROIV	C	1.0%
VRRM	D	1.0%
PIPR	B	1.0%
GVA	B	1.0%
KTOS	C	1.0%
CALX	D	1.0%
AMWD	D	1.0%
HWKN	C	1.0%
PHAT	C	1.0%
PECO	B	1.0%
CCCS	D	1.0%
PLUS	A	1.0%
ESRT	B	1.0%
ROG	F	1.0%
KREF	B	1.0%
SASR	B	1.0%
OUT	C	1.0%
AZZ	D	1.0%
DRS	C	1.0%
XRAY	D	1.0%
BC	C	1.0%
TBBK	B	1.0%
INDB	C	1.0%
MTSI	D	1.0%
MAC	B	1.0%
IOSP	D	1.0%
CCS	B	1.0%
BOH	D	1.0%
CWEN	C	1.0%
VNO	C	1.0%
LYFT	D	1.0%
XPRO	F	1.0%
PRVA	F	1.0%
BOOT	A	1.0%
SHAK	C	1.0%
CHWY	C	1.0%
ALG	D	1.0%
PRKS	D	1.0%
PRGO	D	1.0%
AN	D	1.0%
SXT	C	1.0%
MAN	C	1.0%
CLVT	D	1.0%
DEA	B	1.0%
MARA	F	1.0%
COLD	D	1.0%
ZD	D	1.0%
CRDO	D	1.0%
NWN	C	1.0%
PI	B	1.0%
PJT	B	1.0%
EVRI	C	1.0%
SNX	D	1.0%
KOP	F	1.0%
RL	C	1.0%
SBRA	C	1.0%
CFR	C	1.0%
ICUI	B	1.0%
ESE	B	1.0%
LBRDA	F	1.0%
SPB	C	1.0%
BHVN	D	1.0%
PRCT	C	1.0%
MHK	C	1.0%
AZTA	F	1.0%
RNST	D	1.0%
PLMR	C	1.0%
NWL	C	1.0%
TEX	F	1.0%
WU	F	1.0%
BRBR	C	1.0%
MGRC	F	1.0%
HWC	D	1.0%
BXMT	C	1.0%
LNN	D	1.0%
RDNT	B	1.0%
PEGA	C	1.0%
ABM	D	1.0%
ENOV	D	1.0%
U	D	1.0%
CNK	C	1.0%
TNET	F	1.0%
LNC	D	1.0%
WEN	C	1.0%
AMN	F	1.0%
ERII	D	1.0%
AROC	D	1.0%
UNIT	C	1.0%
BPOP	C	1.0%
RUN	C	1.0%
APAM	C	1.0%
ESNT	B	1.0%
STRL	B	1.0%
CRVL	B	1.0%
CAC	C	1.0%
IMAX	C	1.0%
KFY	B	1.0%
SIG	C	1.0%
JEF	B	1.0%
ICFI	B	1.0%
TMDX	D	1.0%
TRN	D	1.0%
STC	B	1.0%
ZI	D	1.0%
ST	D	1.0%
NXT	F	1.0%
BWIN	B	1.0%
ATKR	F	1.0%
TXRH	C	1.0%
CRC	C	1.0%
RDN	C	1.0%
KD	D	1.0%
SLG	C	1.0%
AEO	F	1.0%
AMAL	B	1.0%
HR	C	1.0%
GTLS	F	1.0%
LCID	C	1.0%
QTWO	A	1.0%
CVBF	D	1.0%
PRIM	B	1.0%
NXST	D	1.0%
AL	D	1.0%
CSGS	C	1.0%
RDUS	D	1.0%
BILL	D	1.0%
DV	F	1.0%
OLED	C	1.0%
TDC	F	1.0%
FLR	D	1.0%
RXO	D	1.0%
SLAB	D	1.0%
EVR	A	1.0%
BRC	C	1.0%
POST	C	1.0%
AMED	C	1.0%
GMED	D	1.0%
TENB	F	1.0%
NMIH	B	1.0%
AIT	A	1.0%
ARW	C	1.0%
SCL	F	1.0%
IBP	D	1.0%
ABCB	B	1.0%
SSD	D	1.0%
MYRG	F	1.0%
EAT	A	1.0%
KRC	C	1.0%
FR	B	1.0%
KAR	D	1.0%
CCOI	C	1.0%
ORA	C	1.0%
AUB	D	1.0%
CGNX	F	1.0%
EFSC	C	1.0%
VC	F	1.0%
S	C	1.0%
DY	B	1.0%
HCP	B	1.0%
INSP	C	1.0%
CFLT	F	1.0%
FIVE	D	1.0%
PSN	B	1.0%
WHD	C	1.0%
WDFC	C	1.0%
STWD	A	1.0%
HAE	F	1.0%
ABG	D	1.0%
PATH	D	1.0%
MRCY	D	1.0%
LCII	C	1.0%
LRN	B	1.0%
SJW	C	1.0%
COLB	B	1.0%
DXC	C	1.0%
XENE	D	1.0%
ETSY	F	1.0%
RMBS	F	1.0%
EPAC	B	1.0%
VMI	D	1.0%
IDCC	C	1.0%
FUL	C	1.0%
IRDM	D	1.0%
FULT	D	1.0%
KNF	B	1.0%
APPF	D	1.0%
ECPG	D	1.0%
VECO	F	1.0%
FA	B	1.0%
SITC	D	1.0%
WGO	D	1.0%
BECN	D	1.0%
MTX	F	1.0%
CABO	F	1.0%
GAP	F	1.0%
YETI	D	1.0%
SHOO	B	1.0%
CAVA	B	1.0%
KOS	F	1.0%
THO	D	1.0%
SOFI	C	1.0%
WERN	D	1.0%
AVAV	C	1.0%
ACA	B	1.0%
PFSI	C	1.0%
OGN	D	1.0%
KLIC	F	1.0%
ADC	C	1.0%
OZK	D	1.0%
JXN	A	1.0%
HASI	C	1.0%
LEA	F	1.0%
GL	C	1.0%
WH	B	1.0%
M	F	1.0%
ADT	D	1.0%
TRNO	C	1.0%
CADE	C	1.0%
ALTR	D	1.0%
LUMN	C	1.0%
OLLI	C	1.0%
X	F	1.0%
AZEK	C	1.0%
NPO	D	1.0%
BLKB	C	1.0%
PINC	C	1.0%
VLY	C	1.0%
CRS	B	1.0%
ITGR	A	1.0%
CPF	B	1.0%
ELF	F	1.0%
CBT	B	1.0%
WTM	D	1.0%
SWX	C	1.0%
ESI	D	1.0%
SON	C	1.0%
MOD	A	1.0%
ORI	B	1.0%
TNL	D	1.0%
KTB	B	1.0%
DUOL	B	1.0%
AGNC	B	1.0%
HQY	C	1.0%
VNT	F	1.0%
CPK	B	1.0%
BCPC	C	1.0%
RYAN	D	1.0%
FLS	D	1.0%
MAT	C	1.0%
TPX	C	1.0%
BOX	C	1.0%
IBCP	B	1.0%
PCOR	F	1.0%
DFIN	B	1.0%
AGCO	D	1.0%
SMAR	C	1.0%
LNTH	D	1.0%
LSCC	D	1.0%
HESM	D	1.0%
SF	A	1.0%
ITCI	D	1.0%
RRX	C	1.0%
OPCH	C	1.0%
MTZ	B	1.0%
MKSI	F	1.0%
AA	D	1.0%
CZR	C	1.0%
DBX	D	1.0%
FYBR	C	1.0%
GXO	D	1.0%
PLXS	A	1.0%
ANF	D	1.0%
HIW	B	1.0%
CHDN	C	1.0%
BANR	B	1.0%
MUR	F	1.0%
LFUS	C	1.0%
FIBK	B	1.0%
FSS	D	1.0%
BHE	D	1.0%
SLM	D	1.0%
PDCO	F	1.0%
CHE	C	1.0%
HNI	C	1.0%
TPH	C	1.0%
ESTC	F	1.0%
KNTK	B	1.0%
JAZZ	D	1.0%
ACIW	C	1.0%
HXL	F	1.0%
FN	D	1.0%
BCC	C	1.0%
AEIS	D	1.0%
LAZ	B	1.0%
SR	B	1.0%
ASB	D	1.0%
MMSI	B	1.0%
CIEN	C	1.0%
AM	C	1.0%
ASGN	D	1.0%
MEDP	F	1.0%
GTLB	D	1.0%
LPX	B	1.0%
VOYA	B	1.0%
BRKR	D	1.0%
DLB	F	1.0%
PVH	F	1.0%
PEN	D	1.0%
UBSI	B	1.0%
NOV	F	1.0%
BRX	B	1.0%
GATX	D	1.0%
SITE	C	1.0%
HRI	D	1.0%
ATI	D	1.0%
CHX	F	1.0%
LAD	D	1.0%
SPXC	B	1.0%
TKO	B	1.0%
TMHC	A	1.0%
VVV	D	1.0%
WK	D	1.0%
PCTY	C	1.0%
ZION	D	1.0%
PR	F	1.0%
FAF	B	1.0%
DAR	F	1.0%
TGNA	D	1.0%
FMC	C	1.0%
VFC	C	1.0%
ONB	C	1.0%
RGEN	D	1.0%
AFRM	C	1.0%
OMF	D	1.0%
REZI	D	1.0%
BWA	D	1.0%
CR	C	1.0%
WFRD	F	1.0%
MORN	C	1.0%
ITRI	C	1.0%
GPI	B	1.0%
THG	B	1.0%
NCLH	C	1.0%
GKOS	C	1.0%
AMG	C	1.0%
NSIT	D	1.0%
CNO	B	1.0%
BDC	B	1.0%
LECO	F	1.0%
NVT	D	1.0%
SPSC	D	1.0%
BHLB	B	1.0%
GNRC	D	1.0%
AAON	B	1.0%
BERY	B	1.0%
PLNT	B	1.0%
ELAN	D	1.0%
WHR	D	1.0%
MSA	D	1.0%
AXS	B	1.0%
SNDR	B	1.0%
NYT	C	1.0%
FRPT	B	1.0%
FTAI	B	1.0%
RHP	C	1.0%
ZWS	A	1.0%
MTH	A	1.0%
PCH	C	1.0%
CMA	B	1.0%
ENLC	B	1.0%
WCC	D	1.0%
ALK	C	1.0%
RLI	B	1.0%
TTEK	C	1.0%
RHI	D	1.0%
FBP	C	1.0%
EPRT	B	1.0%
FHN	D	1.0%
CMC	D	1.0%
WWD	D	1.0%
ACHC	C	1.0%
CROX	D	1.0%
GME	F	1.0%
HHH	C	1.0%
AWI	B	1.0%
EXLS	B	1.0%
UNM	B	1.0%
WSC	D	1.0%
AR	F	1.0%
FTDR	B	1.0%
CVLT	B	1.0%
WTS	C	1.0%
CRUS	D	1.0%
NOVT	D	1.0%
CW	B	1.0%
WAL	B	1.0%
OHI	B	1.0%
KNSL	C	1.0%
AVA	C	1.0%
ALSN	B	1.0%
FELE	C	1.0%
SWN	D	1.0%
CNX	B	1.0%
CNM	F	1.0%
PRI	B	1.0%
CBSH	C	1.0%
MWA	B	1.0%
COHR	C	1.0%
CACI	B	1.0%
CUZ	B	1.0%
HRB	C	1.0%
HAS	B	1.0%
NFG	B	1.0%
PRGS	C	1.0%
MTN	D	1.0%
CDP	B	1.0%
LSTR	D	1.0%
WBS	D	1.0%
MOG.A	B	1.0%
FND	C	1.0%
TPR	C	1.0%
KBH	A	1.0%
SUM	D	1.0%
DTM	B	1.0%
FCN	D	1.0%
ENSG	B	1.0%
HOG	C	1.0%
RRC	D	1.0%
NJR	B	1.0%
ATR	B	1.0%
WING	B	1.0%
SAIA	D	1.0%
LNW	B	1.0%
IVZ	B	1.0%
EGP	B	1.0%
UMBF	B	1.0%
BWXT	D	1.0%
IBKR	B	1.0%
THC	A	1.0%
GBCI	B	1.0%
CUBE	C	1.0%
DCI	C	1.0%
AXTA	B	1.0%
PNFP	B	1.0%
XPO	D	1.0%
ARMK	B	1.0%
WMS	D	1.0%
BJ	D	1.0%
ONTO	D	1.0%
R	A	1.0%
SNV	C	1.0%
SSB	B	1.0%
RNR	C	1.0%
MTG	B	1.0%
TOL	B	1.0%
ITT	B	1.0%
UGI	C	1.0%
SCI	B	1.0%
FLEX	C	1.0%
AVT	C	1.0%
MDU	C	1.0%
SIGI	D	1.0%
BLD	D	1.0%
OSK	F	1.0%
AYI	B	1.0%
CVNA	B	1.0%
EHC	C	1.0%
BMI	A	1.0%
BFAM	C	1.0%
WEX	C	1.0%
GPK	B	1.0%
RGA	C	1.0%
FIX	B	1.0%
RGLD	C	1.0%
FTI	D	1.0%
OGS	B	1.0%
EWBC	D	1.0%
NTNX	C	1.0%
SFM	B	1.0%
FRT	C	1.0%
JLL	B	1.0%
MUSA	D	1.0%
KBR	D	1.0%
REXR	C	1.0%
GWRE	A	1.0%
INGR	B	1.0%
JHG	B	1.0%
USFD	B	1.0%
CASY	D	1.0%

ESML Underweight 60 Positions Relative to XBI

Symbol	Grade	Weight
EXAS	C	-4.12%
GILD	B	-3.28%
UTHR	C	-3.03%
ABBV	C	-2.95%
ALNY	C	-2.94%
REGN	C	-2.88%
AMGN	B	-2.83%
BMRN	F	-2.59%
VRTX	D	-2.55%
INCY	C	-2.48%
BIIB	F	-2.19%
NBIX	F	-2.02%
MRNA	F	-1.28%
EXEL	C	-1.27%
IOVA	C	-0.88%
FOLD	D	-0.71%
ACAD	F	-0.67%
SMMT	C	-0.63%
ARDX	D	-0.55%
BCRX	C	-0.5%
RYTM	B	-0.49%
DVAX	D	-0.47%
VCYT	B	-0.46%
AKRO	C	-0.43%
VCEL	D	-0.4%
MIRM	D	-0.39%
TVTX	B	-0.32%
DAWN	D	-0.28%
CDMO	B	-0.28%
XNCR	C	-0.27%
CGON	C	-0.25%
IMNM	C	-0.24%
IRWD	F	-0.24%
ALT	D	-0.22%
FDMT	F	-0.21%
SANA	F	-0.21%
RLAY	D	-0.2%
OLMA	D	-0.17%
RGNX	F	-0.17%
VIR	F	-0.16%
AVXL	D	-0.16%
CCCC	C	-0.16%
ORIC	D	-0.15%
STOK	C	-0.15%
SRRK	F	-0.15%
SPRY	C	-0.15%
ALLO	D	-0.15%
SAGE	F	-0.13%
FATE	F	-0.13%
OCGN	F	-0.13%
VERV	F	-0.12%
MDXG	F	-0.12%
EDIT	F	-0.11%
VYGR	F	-0.08%
HUMA	D	-0.08%
SCLX	F	-0.08%
ITOS	F	-0.08%
HRTX	F	-0.07%
ZNTL	D	-0.07%
CABA	F	-0.06%