FAB vs. SMLF ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to iShares FactorSelect MSCI USA Small-Cap ETF (SMLF)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$88.95

Average Daily Volume

2,527

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$73.06

Average Daily Volume

71,833

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

Performance

Period	FAB	SMLF
30 Days	6.40%	10.53%
60 Days	5.80%	10.49%
90 Days	6.32%	11.95%
12 Months	27.56%	40.74%

240 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in SMLF	Overlap
ABG	D	0.14%	0.15%	0.14%
ACA	B	0.09%	0.1%	0.09%
AEO	D	0.11%	0.05%	0.05%
AGCO	F	0.08%	0.2%	0.08%
AGO	A	0.25%	0.27%	0.25%
AIN	D	0.02%	0.01%	0.01%
AIZ	A	0.09%	0.17%	0.09%
ALIT	C	0.05%	0.09%	0.05%
ALKS	D	0.09%	0.3%	0.09%
AMG	C	0.23%	0.23%	0.23%
AMN	F	0.06%	0.03%	0.03%
AMR	A	0.22%	0.14%	0.14%
AN	D	0.12%	0.24%	0.12%
APA	D	0.2%	0.22%	0.2%
AR	D	0.09%	0.21%	0.09%
ARCB	A	0.08%	0.02%	0.02%
ARW	D	0.15%	0.18%	0.15%
ASB	C	0.06%	0.1%	0.06%
ASGN	B	0.08%	0.01%	0.01%
ASH	D	0.12%	0.07%	0.07%
ASO	C	0.18%	0.06%	0.06%
ATKR	F	0.23%	0.2%	0.2%
AVNT	C	0.04%	0.18%	0.04%
AXS	D	0.14%	0.01%	0.01%
BBWI	F	0.17%	0.2%	0.17%
BC	C	0.12%	0.09%	0.09%
BCC	A	0.17%	0.22%	0.17%
BECN	B	0.1%	0.1%	0.1%
BERY	B	0.14%	0.1%	0.1%
BFH	F	0.15%	0.0%	0.0%
BJ	F	0.05%	0.16%	0.05%
BKE	B	0.08%	0.12%	0.08%
BKH	C	0.18%	0.01%	0.01%
BKU	C	0.08%	0.0%	0.0%
BLMN	C	0.02%	0.05%	0.02%
BMBL	D	0.16%	0.02%	0.02%
BPOP	A	0.04%	0.53%	0.04%
BYD	D	0.15%	0.01%	0.01%
CAL	B	0.11%	0.08%	0.08%
CAR	D	0.06%	0.09%	0.06%
CASH	B	0.09%	0.0%	0.0%
CC	D	0.02%	0.06%	0.02%
CENTA	F	0.1%	0.05%	0.05%
CHRD	B	0.22%	0.03%	0.03%
CMA	D	0.1%	0.0%	0.0%
CMC	F	0.23%	0.14%	0.14%
CNMD	C	0.02%	0.07%	0.02%
CNO	A	0.19%	0.16%	0.16%
CNX	D	0.25%	0.06%	0.06%
COOP	A	0.18%	0.41%	0.18%
CRC	D	0.1%	0.1%	0.1%
CUBI	B	0.15%	0.09%	0.09%
CUZ	C	0.09%	0.08%	0.08%
CVBF	C	0.09%	0.05%	0.05%
CVCO	C	0.03%	0.16%	0.03%
CVI	B	0.1%	0.03%	0.03%
CWEN	C	0.02%	0.15%	0.02%
CXT	D	0.05%	0.09%	0.05%
CXW	A	0.21%	0.11%	0.11%
DAN	D	0.08%	0.02%	0.02%
DDS	B	0.19%	0.31%	0.19%
DEI	F	0.03%	0.0%	0.0%
DFIN	A	0.05%	0.11%	0.05%
DINO	D	0.21%	0.01%	0.01%
DNB	C	0.05%	0.03%	0.03%
DNOW	F	0.14%	0.1%	0.1%
EIG	D	0.14%	0.0%	0.0%
ENS	D	0.12%	0.04%	0.04%
EPC	F	0.12%	0.01%	0.01%
EQC	D	0.1%	0.07%	0.07%
EVTC	C	0.02%	0.03%	0.02%
FAF	B	0.04%	0.16%	0.04%
FHB	C	0.06%	0.08%	0.06%
FHI	F	0.06%	0.11%	0.06%
FHN	D	0.17%	0.04%	0.04%
FLR	A	0.05%	0.08%	0.05%
FULT	C	0.08%	0.0%	0.0%
GEF	B	0.13%	0.01%	0.01%
GEO	C	0.1%	0.12%	0.1%
GES	D	0.1%	0.15%	0.1%
GIII	A	0.13%	0.02%	0.02%
GMS	B	0.14%	0.08%	0.08%
GNW	D	0.03%	0.0%	0.0%
GO	C	0.05%	0.01%	0.01%
GPI	B	0.18%	0.22%	0.18%
HCC	A	0.22%	0.06%	0.06%
HELE	D	0.13%	0.04%	0.04%
HIW	F	0.09%	0.18%	0.09%
HLF	F	0.05%	0.04%	0.04%
HOG	D	0.18%	0.15%	0.15%
HOV	C	0.1%	0.1%	0.1%
HP	F	0.24%	0.1%	0.1%
HTH	D	0.05%	0.11%	0.05%
HTZ	F	0.15%	0.01%	0.01%
HWC	C	0.1%	0.08%	0.08%
IDA	C	0.1%	0.46%	0.1%
IMKTA	C	0.12%	0.24%	0.12%
INVA	A	0.12%	0.09%	0.09%
IOSP	B	0.05%	0.04%	0.04%
IVT	D	0.03%	0.16%	0.03%
IVZ	C	0.04%	0.1%	0.04%
JBL	B	0.14%	0.55%	0.14%
JEF	B	0.05%	0.4%	0.05%
JXN	A	0.24%	0.0%	0.0%
KALU	F	0.08%	0.01%	0.01%
KFRC	A	0.02%	0.16%	0.02%
KFY	B	0.09%	0.02%	0.02%
KIM	B	0.19%	0.16%	0.16%
KLG	C	0.07%	0.04%	0.04%
KOS	F	0.13%	0.05%	0.05%
KRC	F	0.18%	0.12%	0.12%
KSS	C	0.11%	0.08%	0.08%
LADR	B	0.1%	0.06%	0.06%
LFUS	D	0.04%	0.05%	0.04%
LPX	C	0.09%	0.41%	0.09%
LSTR	D	0.04%	0.1%	0.04%
LXP	D	0.02%	0.07%	0.02%
M	D	0.17%	0.19%	0.17%
MAT	D	0.04%	0.12%	0.04%
MATX	A	0.2%	0.21%	0.2%
MDU	D	0.16%	0.04%	0.04%
MIDD	C	0.08%	0.08%	0.08%
MLI	B	0.1%	0.49%	0.1%
MMS	B	0.07%	0.04%	0.04%
MRC	C	0.11%	0.09%	0.09%
MSM	B	0.09%	0.02%	0.02%
MTG	A	0.21%	0.09%	0.09%
MTRN	B	0.03%	0.1%	0.03%
MUR	D	0.21%	0.19%	0.19%
NAVI	D	0.1%	0.19%	0.1%
NBTB	C	0.03%	0.0%	0.0%
NDSN	B	0.08%	0.18%	0.08%
NFG	D	0.17%	0.13%	0.13%
NJR	C	0.04%	0.14%	0.04%
NOV	D	0.22%	0.12%	0.12%
NSP	B	0.04%	0.11%	0.04%
NWN	F	0.1%	0.01%	0.01%
NX	A	0.08%	0.03%	0.03%
NXST	C	0.13%	0.07%	0.07%
OC	B	0.39%	0.18%	0.18%
ODP	B	0.04%	0.11%	0.04%
OFG	A	0.05%	0.0%	0.0%
OGE	C	0.13%	0.12%	0.12%
OGS	F	0.13%	0.13%	0.13%
OI	F	0.02%	0.03%	0.02%
OLN	D	0.11%	0.09%	0.09%
OLPX	D	0.02%	0.01%	0.01%
OMF	B	0.15%	0.16%	0.15%
OMI	B	0.06%	0.04%	0.04%
OPCH	D	0.03%	0.08%	0.03%
ORI	A	0.09%	0.41%	0.09%
OTTR	C	0.18%	0.06%	0.06%
OVV	D	0.25%	0.25%	0.25%
OXM	C	0.02%	0.06%	0.02%
OZK	B	0.19%	0.08%	0.08%
PBF	D	0.22%	0.02%	0.02%
PBH	F	0.06%	0.09%	0.06%
PDCO	B	0.09%	0.02%	0.02%
PEB	D	0.07%	0.01%	0.01%
PFBC	C	0.09%	0.0%	0.0%
PGRE	D	0.02%	0.16%	0.02%
PHIN	D	0.11%	0.09%	0.09%
PII	F	0.1%	0.01%	0.01%
PK	A	0.13%	0.05%	0.05%
PLUS	D	0.02%	0.07%	0.02%
PNFP	B	0.05%	0.1%	0.05%
POR	D	0.17%	0.07%	0.07%
PRDO	C	0.12%	0.0%	0.0%
PRG	F	0.1%	0.17%	0.1%
PRGO	D	0.04%	0.04%	0.04%
PTEN	F	0.23%	0.11%	0.11%
PVH	B	0.22%	0.17%	0.17%
R	A	0.2%	0.28%	0.2%
RDN	D	0.21%	0.06%	0.06%
RHI	B	0.05%	0.17%	0.05%
RIG	D	0.14%	0.07%	0.07%
RLJ	B	0.13%	0.02%	0.02%
RNR	B	0.2%	0.21%	0.2%
RRC	D	0.19%	0.19%	0.19%
RS	C	0.47%	0.49%	0.47%
RUSHA	D	0.2%	0.06%	0.06%
RYN	B	0.04%	0.06%	0.04%
SAH	B	0.11%	0.04%	0.04%
SANM	D	0.15%	0.22%	0.15%
SEE	D	0.04%	0.0%	0.0%
SHO	B	0.12%	0.01%	0.01%
SIG	B	0.16%	0.26%	0.16%
SKY	D	0.04%	0.15%	0.04%
SLM	D	0.09%	0.16%	0.09%
SM	D	0.24%	0.07%	0.07%
SNEX	D	0.06%	0.07%	0.06%
SOLV	C	0.17%	0.31%	0.17%
SON	C	0.12%	0.09%	0.09%
SPB	F	0.07%	0.15%	0.07%
SR	C	0.17%	0.12%	0.12%
SRCE	C	0.08%	0.16%	0.08%
SSB	B	0.05%	0.02%	0.02%
SSTK	D	0.06%	0.11%	0.06%
STWD	B	0.04%	0.06%	0.04%
SWX	B	0.13%	0.01%	0.01%
SYNA	C	0.05%	0.1%	0.05%
TCBI	F	0.03%	0.03%	0.03%
TDS	B	0.13%	0.04%	0.04%
TEX	F	0.21%	0.19%	0.19%
TGNA	C	0.14%	0.09%	0.09%
THO	B	0.13%	0.13%	0.13%
TKR	C	0.08%	0.17%	0.08%
TMHC	B	0.22%	0.09%	0.09%
TNET	C	0.09%	0.13%	0.09%
TOL	A	0.43%	0.16%	0.16%
TPH	B	0.2%	0.14%	0.14%
TPR	C	0.05%	0.3%	0.05%
TRMK	C	0.12%	0.0%	0.0%
TTC	D	0.04%	0.14%	0.04%
UFPI	B	0.09%	0.23%	0.09%
UGI	F	0.2%	0.1%	0.1%
UMBF	C	0.05%	0.14%	0.05%
UNM	D	0.21%	0.0%	0.0%
UPBD	C	0.02%	0.09%	0.02%
UPWK	B	0.04%	0.01%	0.01%
UVV	A	0.12%	0.06%	0.06%
VAC	F	0.13%	0.07%	0.07%
VC	D	0.12%	0.08%	0.08%
VNT	C	0.1%	0.05%	0.05%
VOYA	B	0.04%	0.17%	0.04%
VSH	D	0.11%	0.09%	0.09%
VSTS	C	0.09%	0.02%	0.02%
WAFD	C	0.05%	0.12%	0.05%
WAL	C	0.05%	0.1%	0.05%
WBS	C	0.17%	0.05%	0.05%
WCC	B	0.16%	0.2%	0.16%
WD	B	0.04%	0.02%	0.02%
WGO	B	0.08%	0.05%	0.05%
WS	B	0.13%	0.22%	0.13%
WTFC	B	0.1%	0.02%	0.02%
WTS	A	0.04%	0.12%	0.04%
XHR	C	0.07%	0.03%	0.03%
XRX	D	0.08%	0.18%	0.08%
YETI	D	0.05%	0.08%	0.05%
ZION	C	0.16%	0.24%	0.16%

FAB Overweight 425 Positions Relative to SMLF

Symbol	Grade	Weight
UAL	D	0.7%
SYF	D	0.57%
DAL	C	0.56%
GM	D	0.56%
PCAR	A	0.51%
FOXA	F	0.49%
STLD	B	0.48%
CVX	F	0.48%
CINF	D	0.48%
TROW	F	0.48%
EOG	D	0.48%
COP	D	0.47%
HPE	F	0.46%
F	D	0.46%
CTRA	D	0.46%
XOM	F	0.45%
WFC	B	0.45%
AIG	A	0.45%
HAL	D	0.45%
VLO	D	0.45%
CMCSA	D	0.45%
DVN	F	0.44%
T	C	0.44%
NUE	B	0.43%
COF	C	0.43%
OXY	F	0.43%
PSX	B	0.43%
HBAN	D	0.42%
KMI	B	0.42%
MPC	C	0.42%
EG	A	0.41%
EQT	D	0.41%
LNG	A	0.41%
LEN	C	0.4%
CFG	D	0.4%
BG	B	0.4%
ETR	B	0.39%
PHM	A	0.39%
LYB	C	0.38%
SRE	B	0.38%
VTRS	D	0.38%
C	B	0.38%
CVS	D	0.38%
ADM	D	0.38%
CTSH	A	0.37%
CRBG	A	0.37%
L	A	0.37%
XEL	C	0.37%
FANG	D	0.37%
INTC	A	0.37%
FDX	C	0.37%
ALLY	C	0.36%
CNP	C	0.36%
AEE	C	0.36%
KR	F	0.36%
SLB	F	0.36%
ATO	C	0.36%
HIG	A	0.35%
CB	A	0.35%
CF	D	0.35%
ZBH	C	0.35%
APTV	D	0.33%
EXC	C	0.33%
SNA	B	0.32%
VZ	B	0.32%
DG	D	0.32%
ED	B	0.32%
ON	F	0.32%
MS	D	0.32%
MTB	C	0.31%
CHTR	D	0.31%
BAC	B	0.3%
SWKS	C	0.3%
IP	C	0.3%
DHI	C	0.3%
BKR	D	0.3%
RF	F	0.29%
TDY	D	0.28%
LUV	F	0.28%
TRV	B	0.28%
USB	C	0.28%
FITB	C	0.28%
NI	C	0.27%
STT	C	0.27%
CNC	B	0.27%
PPL	B	0.26%
MTDR	D	0.26%
DGX	B	0.26%
TXT	C	0.25%
D	C	0.25%
NOG	D	0.25%
LNT	C	0.25%
AFL	A	0.25%
EQR	D	0.25%
ULTA	C	0.25%
TGT	C	0.25%
DTE	C	0.24%
CE	A	0.24%
BLDR	B	0.24%
OSK	B	0.24%
DE	F	0.24%
EBAY	D	0.24%
HRL	F	0.24%
DUK	B	0.24%
SYY	B	0.24%
BBY	D	0.23%
STX	A	0.23%
RJF	B	0.23%
KHC	C	0.23%
AL	C	0.23%
AEP	C	0.23%
TAP	C	0.23%
BIIB	F	0.22%
NFE	C	0.22%
URBN	D	0.22%
CIVI	F	0.22%
AKAM	A	0.22%
CADE	C	0.21%
OKE	B	0.21%
ZM	D	0.21%
DOW	D	0.21%
LBRT	B	0.2%
PNC	B	0.2%
DIS	B	0.2%
G	F	0.2%
RIOT	C	0.2%
KEY	C	0.2%
LBRDK	F	0.2%
LAD	D	0.2%
BWA	D	0.2%
ESNT	C	0.19%
JBHT	D	0.19%
TSN	F	0.19%
LEA	C	0.19%
CSCO	F	0.19%
MTH	C	0.19%
DAR	F	0.19%
NWSA	A	0.19%
PKG	A	0.19%
LNC	C	0.19%
MGY	D	0.19%
JAZZ	F	0.19%
MHO	A	0.19%
GBDC	A	0.18%
HRI	C	0.18%
PNW	D	0.18%
HPQ	C	0.18%
ADTN	F	0.18%
DRI	B	0.18%
DXC	C	0.18%
CSX	B	0.18%
FMC	F	0.18%
PRU	B	0.18%
AAP	F	0.18%
RGA	A	0.18%
BEN	D	0.18%
CMS	C	0.17%
NVR	C	0.17%
CNXC	C	0.17%
AVT	D	0.17%
MOS	D	0.17%
HST	B	0.17%
FNF	A	0.17%
EVRG	C	0.17%
WEC	C	0.17%
SSNC	B	0.17%
MOH	A	0.16%
KDP	B	0.16%
HUM	B	0.16%
KBH	C	0.16%
ARE	C	0.16%
SUM	B	0.16%
FE	B	0.16%
GBX	D	0.16%
DOC	D	0.16%
CARR	C	0.16%
PPG	B	0.16%
HSY	F	0.16%
JNJ	D	0.16%
EIX	C	0.16%
AMKR	B	0.15%
CTOS	D	0.15%
ECVT	C	0.15%
WLK	B	0.15%
JBT	C	0.15%
FNB	C	0.15%
ALK	C	0.15%
UHS	B	0.15%
GIS	D	0.15%
COLB	C	0.15%
CLF	C	0.15%
GPC	F	0.15%
ELV	B	0.14%
KMT	F	0.14%
WHR	F	0.14%
TALO	F	0.14%
INGR	B	0.14%
ULH	D	0.14%
PINC	C	0.14%
VTLE	F	0.14%
VLY	C	0.14%
CABO	F	0.14%
REZI	D	0.13%
LKQ	F	0.13%
BTU	D	0.13%
CRGY	D	0.13%
SPNT	B	0.13%
IART	D	0.13%
PAG	D	0.13%
APLE	B	0.13%
GT	B	0.13%
GPOR	A	0.13%
GL	A	0.13%
RES	D	0.12%
EMN	B	0.12%
BY	D	0.12%
ZD	D	0.12%
PEBO	C	0.12%
SJM	F	0.12%
AVA	D	0.12%
POST	B	0.12%
INDB	C	0.12%
PARR	B	0.12%
PLAB	B	0.12%
SNX	B	0.12%
CCS	C	0.11%
WMK	F	0.11%
SEB	F	0.11%
DBRG	B	0.11%
WKC	D	0.11%
USM	C	0.11%
EBC	D	0.11%
GHC	B	0.11%
FOR	A	0.11%
WU	D	0.11%
FFBC	D	0.11%
NWE	D	0.1%
HII	A	0.1%
CMI	D	0.1%
ODFL	D	0.1%
ABCB	C	0.1%
ABR	F	0.1%
OEC	B	0.1%
MLKN	A	0.1%
PB	D	0.1%
UBSI	B	0.1%
LZB	C	0.1%
BV	C	0.1%
SBH	D	0.1%
SEIC	D	0.1%
HGV	F	0.1%
SCSC	C	0.1%
VSCO	D	0.1%
DRH	C	0.1%
CMCO	D	0.1%
OGN	F	0.1%
AMWD	B	0.1%
HD	B	0.09%
FRME	C	0.09%
WTRG	C	0.09%
PFG	C	0.09%
FIVE	B	0.09%
CRL	C	0.09%
OMC	C	0.09%
CLX	C	0.09%
SBUX	C	0.09%
ACN	A	0.09%
COLM	D	0.09%
WSBC	D	0.09%
CATY	C	0.09%
CRK	F	0.09%
JWN	C	0.09%
SLGN	D	0.09%
SASR	D	0.09%
LHX	B	0.09%
BNL	B	0.09%
KNX	C	0.09%
WRB	B	0.09%
PLYA	C	0.09%
ADNT	F	0.09%
PNM	F	0.09%
BANR	D	0.09%
APD	F	0.09%
LH	C	0.09%
IEX	D	0.09%
J	F	0.09%
ANDE	C	0.09%
PYPL	C	0.09%
BOKF	F	0.09%
BUSE	C	0.08%
MDLZ	B	0.08%
WPC	C	0.08%
MODG	F	0.08%
WERN	C	0.08%
AWK	C	0.08%
REYN	D	0.08%
MCRI	D	0.08%
CPB	C	0.08%
WY	C	0.08%
PTVE	B	0.08%
LMT	D	0.08%
EXPD	B	0.08%
SNDR	D	0.08%
ALG	B	0.08%
HOPE	C	0.08%
SKX	A	0.08%
DD	D	0.08%
FIBK	C	0.08%
CI	D	0.08%
IPG	C	0.08%
FCF	C	0.08%
MAS	B	0.08%
HUBG	D	0.08%
LAUR	D	0.08%
HOLX	D	0.08%
MDT	C	0.08%
FTV	D	0.08%
TCBK	D	0.08%
VBTX	C	0.08%
KEYS	C	0.08%
GD	A	0.08%
WSFS	D	0.08%
PEP	C	0.08%
HY	B	0.08%
RNST	D	0.08%
UPS	D	0.08%
CTVA	F	0.08%
SFNC	D	0.08%
MAA	D	0.08%
EFSC	D	0.08%
VRTS	C	0.08%
LOW	D	0.08%
TTMI	B	0.07%
LC	F	0.07%
LILAK	F	0.07%
SJW	C	0.07%
MRTN	D	0.07%
CAG	C	0.07%
UNF	B	0.07%
NKE	C	0.07%
IPGP	C	0.07%
DIOD	F	0.07%
UHAL	C	0.07%
SBCF	D	0.06%
GOGO	F	0.06%
FBNC	D	0.06%
CSGS	C	0.06%
KAR	B	0.06%
DFH	B	0.06%
NIC	C	0.06%
HMN	B	0.06%
CRI	D	0.06%
GRBK	B	0.06%
SCVL	F	0.06%
VSAT	D	0.06%
LGIH	C	0.06%
AFG	C	0.05%
ROG	C	0.05%
PATK	A	0.05%
SEM	D	0.05%
DEA	C	0.05%
MUSA	B	0.05%
SHEN	C	0.05%
THRM	F	0.05%
LCII	F	0.05%
PFGC	A	0.05%
PSMT	D	0.05%
UCB	C	0.05%
AUB	C	0.05%
SCL	C	0.05%
ARI	C	0.05%
ALEX	C	0.05%
GXO	D	0.05%
LNN	D	0.05%
KWR	C	0.05%
STBA	D	0.05%
DK	C	0.05%
ROCK	B	0.05%
ABM	D	0.05%
ENOV	D	0.05%
MTX	C	0.05%
TOWN	C	0.05%
EPAM	C	0.05%
BHE	B	0.05%
NWBI	D	0.05%
MYRG	D	0.04%
FBIN	B	0.04%
IAC	D	0.04%
FOXF	F	0.04%
HSIC	F	0.04%
AVNS	C	0.04%
CZR	C	0.04%
FUL	B	0.04%
MGM	C	0.04%
FELE	D	0.04%
AIR	A	0.03%
HAYW	D	0.03%
SAFT	B	0.03%
XPEL	F	0.03%
HLIO	F	0.03%
PPBI	C	0.03%
ROIC	C	0.03%
SAM	F	0.03%
FDP	F	0.03%
BHF	B	0.03%
BHLB	D	0.03%
PFS	D	0.03%
CBU	D	0.03%
FBK	C	0.03%
MCW	C	0.03%
MGPI	F	0.03%
GIC	A	0.02%
GPRE	F	0.02%
JBGS	F	0.02%
SHOO	A	0.02%
MSGE	D	0.02%
RC	C	0.02%
CMTG	C	0.02%
SHLS	F	0.02%
CNXN	A	0.02%
NVEE	F	0.02%
NNI	F	0.02%
STC	B	0.02%
NMRK	B	0.02%
MSEX	D	0.02%

FAB Underweight 570 Positions Relative to SMLF

Symbol	Grade	Weight
APP	C	-1.49%
EME	B	-0.94%
EVR	A	-0.81%
MSTR	C	-0.73%
DECK	A	-0.72%
AXON	A	-0.66%
SFM	C	-0.6%
ALSN	D	-0.56%
NTNX	A	-0.56%
MANH	A	-0.5%
SLG	C	-0.49%
NVT	B	-0.49%
CVNA	D	-0.46%
IBKR	D	-0.45%
FIX	A	-0.44%
DUOL	A	-0.44%
COCO	B	-0.43%
WSM	A	-0.42%
PCOR	D	-0.42%
CSL	B	-0.41%
IOT	B	-0.41%
VNO	C	-0.41%
HRB	A	-0.4%
NTRA	B	-0.4%
LBRDA	F	-0.4%
GTLB	C	-0.39%
EWBC	C	-0.39%
POWL	B	-0.38%
UTHR	B	-0.38%
DKS	C	-0.38%
MEDP	C	-0.38%
BRX	C	-0.37%
AM	A	-0.37%
WING	A	-0.36%
CNM	A	-0.36%
WFRD	C	-0.35%
CR	A	-0.35%
AYI	B	-0.35%
PIPR	A	-0.34%
CAVA	C	-0.34%
WK	D	-0.34%
LAMR	B	-0.33%
JHG	B	-0.31%
HSII	B	-0.31%
WSO	A	-0.31%
ITT	A	-0.31%
FLEX	B	-0.31%
FR	D	-0.31%
MAC	C	-0.31%
THC	C	-0.31%
SPXC	C	-0.3%
CORT	F	-0.3%
ANF	A	-0.3%
CHE	C	-0.3%
GGG	B	-0.3%
EXE	D	-0.29%
TTEK	B	-0.29%
STRL	D	-0.29%
PSTG	C	-0.29%
PRI	A	-0.28%
INTA	D	-0.27%
SN	B	-0.27%
FCNCA	B	-0.27%
SMAR	C	-0.26%
ESTC	D	-0.26%
GPK	C	-0.26%
AMH	C	-0.25%
MOD	A	-0.25%
HURN	C	-0.25%
CFR	C	-0.25%
TPX	F	-0.24%
CPRX	C	-0.24%
CBSH	C	-0.24%
TREX	B	-0.24%
RMBS	A	-0.24%
SKT	A	-0.24%
HALO	C	-0.24%
EXEL	B	-0.24%
CW	A	-0.23%
ENTG	B	-0.23%
GAP	A	-0.23%
LSCC	F	-0.23%
YOU	C	-0.23%
EXLS	C	-0.23%
RPM	B	-0.22%
COKE	A	-0.22%
AXSM	D	-0.22%
TOST	F	-0.21%
BLD	B	-0.21%
AZPN	D	-0.21%
SRPT	F	-0.2%
ETSY	D	-0.2%
LIVN	F	-0.2%
RDDT	B	-0.2%
XRAY	D	-0.2%
ELF	B	-0.2%
RRX	D	-0.2%
DTM	A	-0.2%
DNLI	F	-0.2%
HAE	F	-0.2%
TPG	A	-0.2%
LUMN	F	-0.2%
RNG	D	-0.19%
SMG	C	-0.19%
JOE	C	-0.19%
CROX	C	-0.19%
ACM	B	-0.19%
GH	F	-0.19%
HAS	D	-0.19%
HLI	C	-0.18%
PRGS	C	-0.18%
KNSL	D	-0.18%
TDOC	F	-0.18%
VCYT	B	-0.18%
ESAB	A	-0.18%
USFD	A	-0.18%
GLPI	F	-0.18%
FROG	B	-0.18%
DCI	D	-0.18%
MMYT	C	-0.17%
ACLX	B	-0.17%
LNW	A	-0.17%
BRC	C	-0.17%
LNTH	C	-0.17%
PDM	D	-0.17%
KRG	D	-0.17%
XPO	A	-0.17%
EXTR	F	-0.17%
PRKS	C	-0.17%
JBSS	F	-0.17%
SF	B	-0.17%
ALLE	D	-0.16%
BL	C	-0.16%
BMI	B	-0.16%
WTM	B	-0.16%
LRN	C	-0.16%
GME	F	-0.16%
TNL	C	-0.16%
AGNC	C	-0.16%
GATX	D	-0.15%
LBTYA	F	-0.15%
GNRC	C	-0.15%
SBGI	D	-0.15%
ONON	C	-0.15%
XNCR	F	-0.15%
RL	B	-0.15%
ONTO	B	-0.15%
W	D	-0.15%
VMI	F	-0.15%
FTAI	A	-0.15%
DOCS	D	-0.15%
ESI	B	-0.15%
RGLD	B	-0.14%
ATI	B	-0.14%
VSTO	C	-0.14%
IGT	F	-0.14%
BANF	D	-0.14%
MMSI	D	-0.14%
NOVT	C	-0.14%
IONS	A	-0.14%
PI	D	-0.14%
BRKR	C	-0.14%
ENSG	A	-0.14%
UA	C	-0.14%
YEXT	D	-0.14%
PCTY	F	-0.14%
SCI	C	-0.14%
AY	C	-0.14%
SPT	C	-0.14%
SSD	A	-0.14%
BLKB	B	-0.13%
VMEO	C	-0.13%
BPMC	A	-0.13%
IPAR	F	-0.13%
ACCO	C	-0.13%
BRZE	A	-0.13%
BWXT	A	-0.13%
GOLF	B	-0.13%
RYAN	D	-0.13%
KAI	A	-0.13%
BDN	D	-0.13%
QLYS	A	-0.13%
SFBS	C	-0.13%
FYBR	C	-0.13%
NUVL	A	-0.13%
AA	D	-0.13%
INSP	F	-0.12%
AROC	A	-0.12%
AWR	C	-0.12%
SAIA	B	-0.12%
KBR	D	-0.12%
BASE	B	-0.12%
SATS	F	-0.12%
ACLS	F	-0.12%
NYT	A	-0.12%
GFF	A	-0.12%
WH	A	-0.12%
WEN	D	-0.12%
AIT	A	-0.12%
CBT	C	-0.12%
BSY	C	-0.12%
NTCT	F	-0.11%
CYTK	F	-0.11%
TXNM	F	-0.11%
LAZ	D	-0.11%
IBOC	C	-0.11%
PARA	D	-0.11%
OII	D	-0.11%
LOVE	C	-0.11%
CUBE	C	-0.11%
MFA	B	-0.11%
ACAD	F	-0.11%
CRUS	C	-0.11%
CARG	B	-0.11%
SPSC	B	-0.11%
BAND	D	-0.11%
CHX	F	-0.11%
APOG	C	-0.11%
MCB	D	-0.11%
MDGL	C	-0.11%
BCRX	F	-0.11%
KW	F	-0.1%
CHDN	D	-0.1%
EXPI	F	-0.1%
CRDO	A	-0.1%
VECO	B	-0.1%
NNN	C	-0.1%
HUN	C	-0.1%
ICFI	B	-0.1%
X	A	-0.1%
ALX	C	-0.1%
LYFT	D	-0.1%
CMPR	B	-0.1%
AGM	C	-0.1%
KLIC	C	-0.1%
INSM	D	-0.1%
WMS	B	-0.1%
VRNS	A	-0.1%
HIMS	C	-0.1%
EEFT	C	-0.09%
MTSI	A	-0.09%
WSC	D	-0.09%
JACK	D	-0.09%
MTN	D	-0.09%
PCVX	B	-0.09%
HEES	C	-0.09%
ATEN	D	-0.09%
APG	A	-0.09%
HI	F	-0.09%
LGND	C	-0.09%
VERA	C	-0.09%
LZ	C	-0.09%
FLG	D	-0.09%
IDCC	A	-0.09%
PLNT	C	-0.09%
EGP	B	-0.09%
OHI	D	-0.09%
COUR	A	-0.09%
DVAX	D	-0.09%
AMLX	F	-0.09%
WEX	D	-0.09%
CRS	A	-0.09%
EXPO	F	-0.09%
FIVN	B	-0.08%
TENB	D	-0.08%
LILA	F	-0.08%
CVLT	B	-0.08%
VIR	D	-0.08%
RGEN	C	-0.08%
PEGA	B	-0.08%
ELAN	B	-0.08%
MKSI	D	-0.08%
SCS	A	-0.08%
OSCR	B	-0.08%
PD	D	-0.08%
KN	D	-0.08%
MASI	D	-0.08%
WOR	B	-0.08%
CACC	D	-0.08%
DLX	D	-0.08%
VFC	F	-0.08%
BOX	D	-0.08%
NSSC	C	-0.08%
AGX	A	-0.08%
CARS	C	-0.08%
BDC	D	-0.08%
ALV	A	-0.08%
CSWI	C	-0.08%
AFRM	B	-0.07%
UNIT	C	-0.07%
CLH	C	-0.07%
DH	D	-0.07%
HASI	C	-0.07%
AMRX	C	-0.07%
PEN	C	-0.07%
EYPT	F	-0.07%
WYNN	D	-0.07%
MATV	F	-0.07%
AMPH	B	-0.07%
AMPL	F	-0.07%
FLNC	D	-0.07%
WLY	F	-0.07%
NBR	F	-0.07%
EPAC	C	-0.07%
NTB	C	-0.07%
GKOS	F	-0.07%
DOMO	D	-0.07%
GCO	C	-0.07%
KNF	A	-0.07%
TXRH	B	-0.07%
NARI	F	-0.07%
CEIX	B	-0.07%
WNC	C	-0.07%
NVST	F	-0.06%
AVXL	D	-0.06%
YELP	C	-0.06%
AVDX	B	-0.06%
GPMT	B	-0.06%
COTY	C	-0.06%
S	B	-0.06%
FN	D	-0.06%
TNC	A	-0.06%
NXT	B	-0.06%
ILPT	C	-0.06%
HWKN	A	-0.06%
AMCX	C	-0.06%
TRN	B	-0.06%
MCY	A	-0.06%
CTBI	C	-0.06%
MPW	F	-0.06%
BRBR	A	-0.06%
ITCI	B	-0.06%
VKTX	D	-0.06%
FUN	C	-0.06%
NSIT	B	-0.06%
SOFI	D	-0.06%
FLO	D	-0.06%
WTTR	F	-0.06%
CASY	A	-0.06%
IRTC	D	-0.06%
ADEA	B	-0.06%
BCO	A	-0.06%
SFL	A	-0.06%
AIV	C	-0.06%
ADMA	C	-0.06%
APPF	C	-0.06%
AZEK	B	-0.06%
HE	D	-0.06%
KD	C	-0.06%
MED	F	-0.06%
FOLD	F	-0.05%
AVAV	A	-0.05%
ITGR	B	-0.05%
SNV	C	-0.05%
ACI	D	-0.05%
FFIN	D	-0.05%
SONO	C	-0.05%
PZZA	C	-0.05%
ITRI	B	-0.05%
LBTYK	F	-0.05%
EHC	C	-0.05%
TILE	B	-0.05%
BEAM	D	-0.05%
SITE	D	-0.05%
CERS	D	-0.05%
AMBC	B	-0.05%
PATH	B	-0.05%
HOUS	F	-0.05%
MERC	C	-0.05%
TARS	C	-0.05%
SMTC	F	-0.05%
ZIP	D	-0.05%
THR	C	-0.05%
APLS	D	-0.05%
ASAN	C	-0.05%
WBA	F	-0.05%
MDXG	B	-0.05%
LECO	B	-0.05%
ARWR	C	-0.04%
FCN	A	-0.04%
MAN	C	-0.04%
HPP	F	-0.04%
STAG	B	-0.04%
DAWN	D	-0.04%
CORZ	B	-0.04%
PFSI	B	-0.04%
KREF	C	-0.04%
OUT	C	-0.04%
DIN	F	-0.04%
LPG	A	-0.04%
FLYW	D	-0.04%
AGS	B	-0.04%
IDT	B	-0.04%
SANA	D	-0.04%
TPB	B	-0.04%
ANAB	F	-0.04%
NATL	C	-0.04%
RVMD	D	-0.04%
CELH	D	-0.04%
AGYS	A	-0.04%
ARRY	F	-0.04%
ROKU	A	-0.04%
BILL	F	-0.04%
CFFN	D	-0.04%
ANGI	D	-0.04%
IBP	B	-0.04%
NHI	B	-0.04%
ACHC	D	-0.04%
HSTM	B	-0.04%
BCPC	D	-0.04%
RCUS	F	-0.04%
JANX	D	-0.03%
SWIM	D	-0.03%
AXTA	B	-0.03%
GMED	F	-0.03%
ALHC	D	-0.03%
VIAV	D	-0.03%
ALRM	D	-0.03%
RDFN	D	-0.03%
ADT	F	-0.03%
MOG.A	A	-0.03%
LTH	C	-0.03%
SUPN	D	-0.03%
FL	D	-0.03%
VNDA	F	-0.03%
RGNX	C	-0.03%
VCEL	B	-0.03%
EMBC	D	-0.03%
TGTX	D	-0.03%
BBIO	B	-0.03%
QXO	B	-0.03%
OFIX	F	-0.03%
CIEN	D	-0.03%
VIRT	D	-0.03%
QDEL	D	-0.03%
REVG	C	-0.03%
SNBR	F	-0.03%
RYI	C	-0.03%
CHWY	D	-0.03%
IESC	B	-0.03%
UDMY	B	-0.03%
ARCH	B	-0.03%
SLAB	F	-0.03%
BRSP	C	-0.03%
CDP	B	-0.03%
MGNI	D	-0.03%
HNI	A	-0.03%
ACCD	D	-0.03%
VITL	C	-0.03%
CGEM	F	-0.03%
IVR	F	-0.03%
RPD	B	-0.03%
SPRY	D	-0.03%
ATRC	C	-0.03%
CNS	D	-0.03%
RLI	C	-0.03%
RKT	C	-0.03%
UVE	B	-0.03%
NRC	F	-0.03%
OLED	A	-0.03%
BKD	B	-0.03%
RXT	F	-0.02%
ERAS	D	-0.02%
WOOF	D	-0.02%
CACI	B	-0.02%
SLVM	B	-0.02%
OSIS	B	-0.02%
TSE	F	-0.02%
KVYO	C	-0.02%
UNFI	F	-0.02%
ARCT	C	-0.02%
OMER	D	-0.02%
BRY	D	-0.02%
DYN	C	-0.02%
EVH	C	-0.02%
PRO	C	-0.02%
RAMP	B	-0.02%
QRTEA	D	-0.02%
GPRO	D	-0.02%
SAFE	D	-0.02%
MSA	B	-0.02%
JELD	B	-0.02%
EDR	B	-0.02%
KRNY	B	-0.02%
DOCN	D	-0.02%
ALAB	B	-0.02%
EVRI	F	-0.02%
NWL	F	-0.02%
NUS	F	-0.02%
EPR	C	-0.02%
OPI	D	-0.02%
IRWD	C	-0.02%
FSS	A	-0.02%
MTW	C	-0.02%
DY	B	-0.02%
DBI	D	-0.02%
LMAT	C	-0.02%
CLVT	C	-0.02%
PR	D	-0.02%
CRSP	B	-0.02%
TLRY	F	-0.02%
SITC	C	-0.02%
SVC	D	-0.02%
TWO	B	-0.02%
CNDT	D	-0.02%
OPEN	C	-0.02%
SNDX	D	-0.02%
AKRO	F	-0.02%
PTCT	D	-0.02%
USNA	D	-0.02%
LANC	F	-0.02%
CALX	F	-0.02%
CWK	D	-0.01%
ALGM	F	-0.01%
VAL	D	-0.01%
PGEN	F	-0.01%
ARR	D	-0.01%
JAMF	D	-0.01%
PCH	D	-0.01%
SFIX	C	-0.01%
POWI	D	-0.01%
FLWS	C	-0.01%
TDC	C	-0.01%
XPRO	D	-0.01%
MBC	A	-0.01%
BIGC	F	-0.01%
MLAB	F	-0.01%
JOBY	F	-0.01%
UTL	C	-0.01%
WTI	F	-0.01%
ZUO	C	-0.01%
CRAI	D	-0.01%
SWI	B	-0.01%
MITK	B	-0.01%
NTLA	D	-0.01%
VRE	F	-0.01%
TR	C	-0.01%
ROIV	D	-0.01%
TTGT	D	-0.01%
HCAT	F	-0.01%
OIS	F	-0.01%
RBRK	A	-0.01%
NGVT	F	-0.01%
HQY	D	-0.01%
ENVA	F	-0.01%
HMST	F	-0.01%
CAKE	C	-0.01%
STGW	D	-0.01%
ENR	D	-0.01%
BSIG	D	-0.01%
GWRE	A	-0.01%
RHP	A	-0.01%
PYCR	D	-0.01%
MBLY	B	-0.01%
OSUR	B	-0.01%
HAIN	D	-0.01%
SWTX	F	-0.01%
NEXA	C	-0.01%
HXL	C	-0.01%
NFBK	D	-0.01%
AEIS	C	-0.01%
MAGN	F	-0.0%
MC	B	-0.0%
CHCO	C	-0.0%
GDOT	F	-0.0%
EGBN	D	-0.0%
BOH	C	-0.0%
TBBK	C	-0.0%
FBP	A	-0.0%
AX	D	-0.0%