FESM vs. IWO ETF Comparison

Comparison of Fidelity Enhanced Small Cap ETF (FESM) to iShares Russell 2000 Growth ETF (IWO)

FESM

Fidelity Enhanced Small Cap ETF

FESM Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 2000® Index, which is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$33.67

Average Daily Volume

114,560

Number of Holdings ^*

562

* may have additional holdings in another (foreign) market

IWO

iShares Russell 2000 Growth ETF

IWO Description

The investment seeks to track the investment results of an index composed of small-capitalization U.S. equities that exhibit growth characteristics. 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. It seeks to track the investment results of the Russell 2000 Growth Index (the "underlying index"), which measures the performance of the small-capitalization growth sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$298.79

Average Daily Volume

369,216

Number of Holdings ^*

1079

* may have additional holdings in another (foreign) market

Performance

Period	FESM	IWO
30 Days	3.38%	2.83%
60 Days	5.43%	5.41%
90 Days	8.64%	8.20%
12 Months	35.92%	33.54%

329 Overlapping Holdings

Symbol	Grade	Weight in FESM	Weight in IWO	Overlap
ABSI	F	0.05%	0.02%	0.02%
ABUS	D	0.02%	0.03%	0.02%
ACAD	C	0.11%	0.14%	0.11%
ACIW	B	0.05%	0.42%	0.05%
ACLX	C	0.03%	0.3%	0.03%
ADMA	C	0.11%	0.35%	0.11%
ADUS	D	0.1%	0.06%	0.06%
AEO	F	0.5%	0.18%	0.18%
AGS	A	0.09%	0.03%	0.03%
AIN	C	0.08%	0.04%	0.04%
AIR	B	0.49%	0.03%	0.03%
AIT	B	0.47%	0.7%	0.47%
AKBA	C	0.08%	0.0%	0.0%
AKRO	C	0.06%	0.03%	0.03%
ALEC	F	0.02%	0.03%	0.02%
ALHC	C	0.02%	0.09%	0.02%
ALKS	C	0.21%	0.32%	0.21%
ALRM	C	0.16%	0.21%	0.16%
ALT	C	0.02%	0.02%	0.02%
ALTR	B	0.1%	0.4%	0.1%
ALX	D	0.04%	0.03%	0.03%
AMBA	B	0.09%	0.08%	0.08%
AMPH	F	0.1%	0.13%	0.1%
AMRX	C	0.12%	0.08%	0.08%
AMSC	C	0.12%	0.08%	0.08%
AMSF	B	0.15%	0.03%	0.03%
ANF	C	0.74%	0.49%	0.49%
ANIK	F	0.03%	0.0%	0.0%
ANIP	D	0.08%	0.05%	0.05%
AORT	B	0.22%	0.06%	0.06%
APOG	B	0.38%	0.04%	0.04%
APPN	C	0.06%	0.11%	0.06%
ARAY	D	0.08%	0.01%	0.01%
ARCT	F	0.06%	0.03%	0.03%
ARLO	C	0.17%	0.08%	0.08%
AROC	A	0.39%	0.26%	0.26%
ARQT	C	0.09%	0.08%	0.08%
ARRY	F	0.03%	0.06%	0.03%
ARVN	F	0.06%	0.12%	0.06%
ARWR	D	0.05%	0.18%	0.05%
ATRC	C	0.13%	0.08%	0.08%
AUR	C	0.09%	0.19%	0.09%
AVTE	C	0.01%	0.0%	0.0%
AWR	A	0.3%	0.12%	0.12%
AX	B	0.29%	0.03%	0.03%
AXGN	D	0.21%	0.04%	0.04%
AXNX	A	0.03%	0.24%	0.03%
AXSM	B	0.07%	0.22%	0.07%
BAND	D	0.36%	0.03%	0.03%
BANF	B	0.43%	0.02%	0.02%
BASE	C	0.04%	0.05%	0.04%
BBIO	F	0.07%	0.16%	0.07%
BBSI	B	0.33%	0.06%	0.06%
BCC	C	0.16%	0.18%	0.16%
BCO	F	0.24%	0.3%	0.24%
BCPC	B	0.09%	0.4%	0.09%
BCRX	D	0.1%	0.11%	0.1%
BDC	B	0.29%	0.19%	0.19%
BDTX	F	0.04%	0.01%	0.01%
BECN	B	0.03%	0.42%	0.03%
BKD	F	0.06%	0.06%	0.06%
BL	C	0.2%	0.24%	0.2%
BLBD	F	0.04%	0.09%	0.04%
BLKB	B	0.07%	0.24%	0.07%
BMI	C	0.4%	0.45%	0.4%
BOOT	D	0.05%	0.27%	0.05%
BPMC	C	0.16%	0.43%	0.16%
BSIG	A	0.07%	0.06%	0.06%
BVS	C	0.18%	0.01%	0.01%
CALM	A	0.22%	0.02%	0.02%
CDMO	A	0.08%	0.05%	0.05%
CDNA	D	0.11%	0.02%	0.02%
CDXS	B	0.06%	0.0%	0.0%
CECO	C	0.35%	0.05%	0.05%
CERS	D	0.06%	0.02%	0.02%
CHRS	F	0.01%	0.0%	0.0%
CHX	C	0.11%	0.4%	0.11%
CLDX	F	0.06%	0.09%	0.06%
CMPR	F	0.39%	0.06%	0.06%
CNK	A	0.14%	0.19%	0.14%
CNMD	C	0.35%	0.15%	0.15%
COGT	D	0.05%	0.06%	0.05%
COLL	F	0.07%	0.07%	0.07%
COMP	B	0.58%	0.17%	0.17%
CORT	C	0.23%	0.33%	0.23%
COUR	F	0.04%	0.07%	0.04%
CPRX	C	0.14%	0.18%	0.14%
CRAI	B	0.22%	0.09%	0.09%
CRDO	B	0.36%	0.42%	0.36%
CRGY	A	0.58%	0.03%	0.03%
CRNX	C	0.13%	0.36%	0.13%
CRS	A	0.81%	0.57%	0.57%
CRVL	A	0.04%	0.22%	0.04%
CSGS	B	0.59%	0.11%	0.11%
CSWI	A	0.17%	0.47%	0.17%
CTRE	C	0.2%	0.03%	0.03%
CVLT	B	0.77%	0.47%	0.47%
CWCO	C	0.03%	0.01%	0.01%
CWT	C	0.2%	0.05%	0.05%
CXM	C	0.04%	0.06%	0.04%
CYTK	D	0.16%	0.04%	0.04%
DAKT	B	0.05%	0.01%	0.01%
DIN	C	0.02%	0.01%	0.01%
DIOD	F	0.1%	0.02%	0.02%
DK	D	0.12%	0.02%	0.02%
DNLI	C	0.07%	0.15%	0.07%
DOMO	C	0.15%	0.02%	0.02%
DVAX	C	0.02%	0.09%	0.02%
DXPE	B	0.16%	0.0%	0.0%
DY	C	0.15%	0.37%	0.15%
DYN	F	0.11%	0.16%	0.11%
EAT	A	0.11%	0.31%	0.11%
EB	C	0.02%	0.02%	0.02%
EGHT	C	0.29%	0.03%	0.03%
ENS	D	0.61%	0.24%	0.24%
ENSG	D	0.03%	0.56%	0.03%
EOLS	F	0.06%	0.05%	0.05%
EPAC	B	0.23%	0.19%	0.19%
EWTX	C	0.16%	0.18%	0.16%
EXLS	B	0.54%	0.49%	0.49%
EXPI	C	0.16%	0.08%	0.08%
EXTR	C	0.13%	0.08%	0.08%
FBP	B	0.28%	0.02%	0.02%
FFIN	B	0.35%	0.37%	0.35%
FIZZ	C	0.03%	0.08%	0.03%
FLNC	C	0.17%	0.09%	0.09%
FLR	B	0.5%	0.54%	0.5%
FLYW	B	0.05%	0.17%	0.05%
FN	B	0.74%	0.67%	0.67%
FOLD	F	0.14%	0.22%	0.14%
FORM	F	0.12%	0.22%	0.12%
FSS	B	0.08%	0.37%	0.08%
FTDR	B	0.08%	0.31%	0.08%
FUL	F	0.52%	0.08%	0.08%
GERN	F	0.04%	0.12%	0.04%
GFF	B	0.3%	0.18%	0.18%
GH	B	0.35%	0.23%	0.23%
GIC	F	0.06%	0.03%	0.03%
GKOS	A	0.1%	0.47%	0.1%
GRC	B	0.03%	0.06%	0.03%
HAE	C	0.14%	0.3%	0.14%
HALO	F	0.21%	0.52%	0.21%
HBI	B	0.07%	0.19%	0.07%
HCAT	C	0.11%	0.0%	0.0%
HCI	C	0.11%	0.07%	0.07%
HIMS	C	0.03%	0.3%	0.03%
HLIT	D	0.09%	0.09%	0.09%
HLX	C	0.23%	0.02%	0.02%
HNI	B	0.2%	0.08%	0.08%
HNST	A	0.03%	0.01%	0.01%
HQY	A	0.24%	0.57%	0.24%
HROW	D	0.03%	0.11%	0.03%
HRTX	F	0.04%	0.0%	0.0%
HSTM	A	0.2%	0.02%	0.02%
HUMA	F	0.03%	0.03%	0.03%
HURN	B	0.21%	0.15%	0.15%
HWKN	B	0.53%	0.16%	0.16%
HY	D	0.18%	0.03%	0.03%
IBP	F	0.57%	0.34%	0.34%
ICFI	F	0.04%	0.22%	0.04%
IDT	B	0.03%	0.04%	0.03%
IDYA	F	0.04%	0.18%	0.04%
IGT	F	0.49%	0.02%	0.02%
IMVT	F	0.01%	0.12%	0.01%
INSM	C	0.42%	0.79%	0.42%
INTA	B	0.17%	0.16%	0.16%
IOVA	F	0.04%	0.18%	0.04%
IRTC	C	0.17%	0.18%	0.17%
IRWD	F	0.07%	0.02%	0.02%
ITRI	B	0.47%	0.35%	0.35%
JAMF	F	0.07%	0.09%	0.07%
JBSS	F	0.02%	0.05%	0.02%
KALV	F	0.04%	0.03%	0.03%
KBH	D	0.2%	0.05%	0.05%
KNF	B	0.13%	0.39%	0.13%
KREF	D	0.12%	0.01%	0.01%
KRYS	C	0.11%	0.34%	0.11%
KTB	A	0.08%	0.34%	0.08%
KTOS	C	0.31%	0.12%	0.12%
KURA	F	0.1%	0.09%	0.09%
KYMR	C	0.03%	0.15%	0.03%
LANC	D	0.45%	0.26%	0.26%
LIVN	D	0.07%	0.01%	0.01%
LKFN	B	0.52%	0.01%	0.01%
LMAT	A	0.03%	0.14%	0.03%
LMB	A	0.17%	0.07%	0.07%
LMND	A	0.51%	0.08%	0.08%
LNTH	F	0.07%	0.41%	0.07%
LUNR	B	0.07%	0.0%	0.0%
LYTS	A	0.11%	0.03%	0.03%
MCRI	A	0.05%	0.07%	0.05%
MCY	B	0.03%	0.02%	0.02%
MDGL	C	0.15%	0.42%	0.15%
MDXG	A	0.02%	0.03%	0.02%
MGNX	D	0.04%	0.02%	0.02%
MLNK	C	0.05%	0.03%	0.03%
MMSI	A	0.4%	0.4%	0.4%
MOG.A	B	0.25%	0.43%	0.25%
MQ	F	0.02%	0.1%	0.02%
MRSN	C	0.02%	0.01%	0.01%
MRTN	C	0.23%	0.01%	0.01%
MTRN	C	0.08%	0.16%	0.08%
MWA	B	0.6%	0.27%	0.27%
MXL	C	0.48%	0.08%	0.08%
MYE	F	0.07%	0.03%	0.03%
NABL	F	0.06%	0.05%	0.05%
NARI	C	0.03%	0.19%	0.03%
NBR	D	0.24%	0.02%	0.02%
NGVC	A	0.1%	0.01%	0.01%
NMIH	D	0.33%	0.02%	0.02%
NRIX	C	0.14%	0.08%	0.08%
NSSC	F	0.04%	0.09%	0.04%
NUVL	D	0.04%	0.23%	0.04%
NVAX	F	0.07%	0.07%	0.07%
OABI	D	0.05%	0.0%	0.0%
OPCH	F	0.14%	0.12%	0.12%
OPEN	F	0.07%	0.0%	0.0%
ORGO	B	0.05%	0.0%	0.0%
ORIC	F	0.07%	0.01%	0.01%
OSCR	C	0.1%	0.18%	0.1%
OTTR	C	0.11%	0.1%	0.1%
OUT	A	0.53%	0.07%	0.07%
PAHC	B	0.05%	0.01%	0.01%
PAYO	A	0.65%	0.15%	0.15%
PBI	B	0.19%	0.02%	0.02%
PBYI	D	0.02%	0.0%	0.0%
PCRX	C	0.08%	0.0%	0.0%
PCVX	D	0.36%	0.87%	0.36%
PD	C	0.18%	0.12%	0.12%
PDCO	F	0.02%	0.02%	0.02%
PDFS	D	0.24%	0.07%	0.07%
PECO	A	0.34%	0.05%	0.05%
PGEN	F	0.02%	0.0%	0.0%
PHR	F	0.29%	0.08%	0.08%
PJT	B	0.18%	0.26%	0.18%
PKE	C	0.02%	0.01%	0.01%
PLAB	D	0.22%	0.04%	0.04%
PLPC	B	0.25%	0.0%	0.0%
PLXS	B	0.23%	0.09%	0.09%
PRG	C	0.54%	0.02%	0.02%
PRGS	B	0.26%	0.19%	0.19%
PRO	C	0.18%	0.07%	0.07%
PTCT	C	0.17%	0.17%	0.17%
PTGX	D	0.08%	0.18%	0.08%
QLYS	C	0.56%	0.39%	0.39%
QTRX	D	0.06%	0.0%	0.0%
QTWO	B	0.8%	0.41%	0.41%
RAMP	C	0.02%	0.13%	0.02%
RCKT	F	0.03%	0.08%	0.03%
RCKY	F	0.02%	0.0%	0.0%
RDFN	D	0.1%	0.08%	0.08%
REPX	A	0.12%	0.0%	0.0%
RM	D	0.06%	0.0%	0.0%
RMBS	C	0.19%	0.41%	0.19%
RNA	C	0.21%	0.34%	0.21%
ROCK	D	0.21%	0.07%	0.07%
RVMD	B	0.26%	0.41%	0.26%
RVNC	F	0.06%	0.03%	0.03%
RXO	C	0.06%	0.27%	0.06%
RXRX	D	0.09%	0.11%	0.09%
RYTM	C	0.16%	0.25%	0.16%
SAH	B	0.15%	0.02%	0.02%
SANA	F	0.03%	0.03%	0.03%
SEM	B	0.07%	0.2%	0.07%
SFBS	B	0.18%	0.09%	0.09%
SFL	D	0.02%	0.02%	0.02%
SFM	A	0.97%	1.0%	0.97%
SHAK	C	0.23%	0.34%	0.23%
SIGI	B	0.44%	0.35%	0.35%
SKT	A	0.11%	0.1%	0.1%
SLVM	C	0.18%	0.05%	0.05%
SMMT	D	0.01%	0.12%	0.01%
SMTC	C	0.19%	0.23%	0.19%
SNDX	F	0.06%	0.12%	0.06%
SNEX	B	0.25%	0.02%	0.02%
SPCE	D	0.01%	0.0%	0.0%
SPSC	F	0.72%	0.47%	0.47%
SPT	C	0.08%	0.09%	0.08%
SRRK	B	0.13%	0.12%	0.12%
SSTK	F	0.08%	0.04%	0.04%
STEP	B	0.32%	0.29%	0.29%
SUPN	B	0.02%	0.01%	0.01%
SVRA	F	0.02%	0.03%	0.02%
SWTX	C	0.02%	0.16%	0.02%
SXT	C	0.32%	0.22%	0.22%
TDOC	D	0.08%	0.02%	0.02%
TENB	D	0.36%	0.34%	0.34%
TERN	F	0.04%	0.0%	0.0%
TGTX	B	0.09%	0.27%	0.09%
THR	B	0.07%	0.01%	0.01%
TILE	B	0.22%	0.01%	0.01%
TMCI	C	0.05%	0.03%	0.03%
TNC	F	0.19%	0.05%	0.05%
TNDM	F	0.04%	0.13%	0.04%
TNET	F	0.02%	0.2%	0.02%
TNYA	C	0.02%	0.0%	0.0%
TPH	D	0.34%	0.08%	0.08%
TREE	F	0.06%	0.03%	0.03%
TRN	A	0.26%	0.19%	0.19%
TRUP	B	0.12%	0.11%	0.11%
TSHA	D	0.06%	0.02%	0.02%
TWST	F	0.14%	0.18%	0.14%
UCTT	F	0.37%	0.11%	0.11%
UEC	A	0.06%	0.21%	0.06%
UFPI	C	0.03%	0.31%	0.03%
UHT	D	0.05%	0.03%	0.03%
UPBD	C	0.5%	0.12%	0.12%
URBN	C	0.08%	0.05%	0.05%
URGN	F	0.01%	0.02%	0.01%
USLM	A	0.03%	0.1%	0.03%
UVE	A	0.04%	0.01%	0.01%
VCEL	A	0.03%	0.18%	0.03%
VERA	C	0.02%	0.13%	0.02%
VICR	C	0.35%	0.05%	0.05%
VRTS	B	0.14%	0.09%	0.09%
VSCO	A	0.03%	0.04%	0.03%
WEAV	B	0.07%	0.04%	0.04%
WK	C	0.28%	0.33%	0.28%
WKC	D	0.14%	0.01%	0.01%
WT	A	0.51%	0.1%	0.1%
WTS	B	0.39%	0.39%	0.39%
WVE	C	0.08%	0.07%	0.07%
XNCR	B	0.02%	0.04%	0.02%
YELP	C	0.58%	0.16%	0.16%
YEXT	B	0.28%	0.06%	0.06%
YMAB	F	0.03%	0.04%	0.03%
YOU	D	0.32%	0.17%	0.17%
ZIP	D	0.05%	0.05%	0.05%
ZUO	B	0.2%	0.09%	0.09%

FESM Overweight 233 Positions Relative to IWO

Symbol	Grade	Weight
LUMN	C	0.86%
SKYW	B	0.69%
BGC	C	0.66%
JXN	C	0.64%
MHO	D	0.59%
NWBI	B	0.57%
MTX	C	0.56%
EME	A	0.55%
CVNA	A	0.55%
FIX	A	0.55%
MTDR	C	0.51%
VMEO	C	0.51%
FHI	B	0.5%
TMHC	B	0.47%
REZI	A	0.46%
CODI	B	0.44%
BHE	B	0.41%
GT	C	0.39%
SANM	B	0.39%
ACA	A	0.37%
CBU	B	0.37%
AAT	A	0.36%
ABCB	B	0.36%
UMBF	B	0.34%
TEX	D	0.34%
ESRT	C	0.34%
GNW	A	0.33%
SF	B	0.32%
ATI	C	0.32%
ABM	B	0.32%
MATX	B	0.32%
COKE	C	0.32%
PFS	B	0.31%
EQC	A	0.31%
SWX	A	0.31%
KAR	A	0.31%
NJR	A	0.3%
MTH	D	0.3%
WOOF	D	0.3%
VREX	C	0.29%
TRNO	D	0.28%
LNW	F	0.28%
SXC	A	0.28%
CNO	B	0.27%
CEIX	A	0.25%
CDP	C	0.25%
HP	C	0.25%
PSN	C	0.24%
EZPW	A	0.23%
CPF	B	0.23%
BUSE	B	0.23%
RNST	B	0.22%
CRC	A	0.22%
COMM	D	0.22%
HWC	B	0.22%
GEO	A	0.22%
MAC	A	0.22%
WABC	B	0.21%
PBH	A	0.21%
SJW	F	0.21%
OI	D	0.21%
AXL	C	0.21%
HL	C	0.19%
MUR	F	0.19%
FULT	B	0.19%
UBSI	B	0.19%
SBH	B	0.18%
CADE	B	0.18%
FRME	B	0.18%
XRX	F	0.18%
AVNS	F	0.18%
CNXN	D	0.18%
VRE	A	0.18%
PRK	B	0.17%
DCO	B	0.17%
TDS	B	0.17%
TVTX	C	0.16%
BOH	B	0.16%
VCYT	B	0.15%
STNG	D	0.15%
WSBC	B	0.15%
NFBK	B	0.15%
TRTX	B	0.15%
OFG	B	0.15%
CPS	C	0.15%
GHC	B	0.14%
AGIO	C	0.14%
ETD	D	0.14%
FLXS	B	0.14%
UCB	A	0.14%
WSR	A	0.13%
WS	B	0.13%
SRCE	B	0.13%
SLG	B	0.13%
BRC	C	0.12%
ZEUS	C	0.12%
UNIT	B	0.11%
ALE	A	0.1%
LADR	B	0.1%
TRUE	C	0.1%
INDB	B	0.1%
FFBC	B	0.1%
GMRE	F	0.1%
AUB	B	0.1%
VTOL	B	0.1%
VBTX	B	0.09%
EBS	C	0.09%
ADPT	C	0.09%
AMAL	B	0.09%
LGND	C	0.09%
ODP	F	0.09%
MYGN	F	0.09%
PRLB	C	0.08%
FDP	B	0.08%
BSRR	C	0.08%
SGMO	C	0.08%
DEA	D	0.08%
EGP	D	0.08%
CATY	B	0.08%
LTH	C	0.08%
RUSHA	B	0.08%
TCMD	B	0.08%
MRC	B	0.08%
SCS	B	0.08%
PACB	D	0.08%
CTKB	C	0.07%
KE	C	0.07%
KOD	B	0.07%
NBTB	B	0.07%
HRTG	C	0.07%
FISI	B	0.07%
PGC	A	0.07%
LGF.A	F	0.07%
NUVB	C	0.07%
ATNI	F	0.07%
PL	A	0.07%
CTBI	B	0.07%
MEDP	D	0.07%
WSBF	B	0.07%
REPL	C	0.07%
CDE	C	0.07%
WMK	B	0.07%
ANNX	F	0.06%
ERAS	C	0.06%
IART	C	0.06%
BGS	F	0.06%
CMC	B	0.06%
CCCC	F	0.06%
HURC	C	0.06%
AVD	C	0.06%
FBK	B	0.06%
ETNB	D	0.05%
ALLK	D	0.05%
SAGE	F	0.05%
LGF.A	F	0.05%
DSGN	C	0.05%
ATRO	F	0.05%
OPY	B	0.05%
OIS	C	0.05%
STRO	D	0.05%
BY	B	0.05%
VNDA	C	0.05%
EE	A	0.05%
SNBR	F	0.05%
ONTO	F	0.05%
CVBF	B	0.05%
TSVT	F	0.04%
LPSN	F	0.04%
AOSL	C	0.04%
NXRT	A	0.04%
MSBI	B	0.04%
BRSP	C	0.04%
VYGR	F	0.04%
NPAB	F	0.04%
ZNTL	D	0.04%
TXRH	B	0.04%
PRTS	C	0.03%
GCI	D	0.03%
NPK	C	0.03%
ACET	F	0.03%
GIII	D	0.03%
ENTA	F	0.03%
RMAX	D	0.03%
SHEN	F	0.03%
RLMD	F	0.03%
MBWM	B	0.03%
BEAM	C	0.03%
STNE	F	0.03%
MED	F	0.03%
RLAY	F	0.03%
ASC	D	0.03%
STBA	B	0.03%
FNKO	D	0.03%
UVSP	B	0.03%
ETWO	F	0.03%
CHGG	F	0.03%
BHLB	B	0.03%
FATE	F	0.03%
EDIT	F	0.03%
CSR	A	0.03%
ANGO	C	0.02%
UPLD	B	0.02%
ONTF	C	0.02%
CTMX	F	0.02%
SPNS	F	0.02%
NTLA	F	0.02%
ZIMV	F	0.02%
MCB	B	0.02%
NKTR	F	0.02%
TCBK	B	0.02%
SPOK	B	0.02%
CRBU	D	0.02%
PRAA	C	0.02%
GPRE	F	0.02%
FCF	B	0.02%
DOC	D	0.02%
TSE	F	0.02%
NKTX	F	0.02%
KPTI	D	0.02%
FSTR	B	0.02%
BOLT	F	0.01%
CARA	D	0.01%
WFRD	F	0.01%
ALVR	F	0.01%
INO	F	0.01%
NOVA	F	0.01%
GATX	B	0.01%
ZDGE	F	0.01%
FGEN	F	0.01%
ADAP	F	0.01%
RIG	D	0.01%
XBIT	F	0.01%
CCBG	B	0.01%

FESM Underweight 750 Positions Relative to IWO

Symbol	Grade	Weight
FTAI	A	-1.09%
MLI	B	-0.66%
SPXC	A	-0.52%
HLNE	A	-0.51%
GTLS	A	-0.49%
NOVT	D	-0.45%
HRI	C	-0.45%
CWST	A	-0.45%
RHP	B	-0.45%
MOD	A	-0.45%
UPST	B	-0.43%
ZETA	D	-0.43%
CBT	C	-0.42%
AVAV	C	-0.41%
STRL	A	-0.4%
PIPR	B	-0.4%
VRNS	D	-0.39%
MMS	D	-0.38%
ZWS	B	-0.37%
EXPO	D	-0.36%
RDNT	B	-0.33%
CWAN	B	-0.33%
IONQ	B	-0.33%
FELE	B	-0.33%
IDCC	B	-0.32%
PI	D	-0.32%
KAI	B	-0.32%
RKLB	B	-0.32%
BOX	B	-0.32%
NSIT	F	-0.32%
LRN	A	-0.3%
MGY	A	-0.3%
AEIS	B	-0.3%
WHD	B	-0.3%
PRCT	B	-0.29%
FCFS	F	-0.29%
NXT	D	-0.29%
MARA	C	-0.29%
ROAD	A	-0.28%
SITM	B	-0.28%
VRRM	F	-0.27%
SG	B	-0.27%
CVCO	A	-0.27%
PRIM	A	-0.27%
BHVN	C	-0.27%
MC	B	-0.26%
POWI	D	-0.26%
WDFC	B	-0.26%
DORM	B	-0.25%
SLAB	F	-0.25%
CCOI	B	-0.25%
ATMU	A	-0.25%
CBZ	B	-0.25%
ATKR	D	-0.24%
GVA	A	-0.24%
GMS	B	-0.24%
SMPL	B	-0.23%
FRSH	C	-0.23%
ITGR	B	-0.22%
SHOO	D	-0.22%
POWL	C	-0.22%
BWIN	D	-0.21%
CARG	B	-0.21%
CLSK	C	-0.21%
HGV	C	-0.21%
FUN	C	-0.21%
NE	D	-0.21%
RELY	B	-0.2%
LCII	D	-0.2%
CNS	B	-0.2%
MGRC	B	-0.2%
ENV	B	-0.2%
ACVA	A	-0.2%
APAM	B	-0.2%
TDW	F	-0.19%
ARCB	C	-0.19%
TMDX	F	-0.19%
VCTR	B	-0.19%
ACLS	F	-0.19%
OII	B	-0.19%
VERX	A	-0.19%
PTON	C	-0.19%
NSP	F	-0.19%
AMR	C	-0.18%
KLIC	C	-0.18%
WD	D	-0.18%
AGYS	A	-0.18%
DRS	B	-0.18%
JJSF	C	-0.18%
PATK	D	-0.18%
PLMR	A	-0.17%
SKY	A	-0.17%
WNS	D	-0.17%
VC	F	-0.17%
RPD	C	-0.17%
TBBK	B	-0.17%
UFPT	C	-0.17%
DOCN	D	-0.17%
GSHD	B	-0.17%
PAR	A	-0.17%
IOSP	C	-0.17%
OSIS	A	-0.16%
BRZE	C	-0.16%
APGE	F	-0.16%
IPAR	C	-0.16%
AI	B	-0.16%
IESC	A	-0.16%
CORZ	B	-0.16%
KWR	D	-0.16%
BE	A	-0.16%
ENR	B	-0.16%
COOP	B	-0.16%
MYRG	C	-0.16%
PRVA	C	-0.15%
CAKE	B	-0.15%
EVTC	B	-0.15%
ALG	C	-0.14%
VAL	F	-0.14%
KROS	D	-0.14%
ASTH	F	-0.14%
BATRK	B	-0.14%
LAUR	A	-0.14%
NATL	B	-0.14%
AZZ	A	-0.14%
JOBY	B	-0.14%
SOUN	C	-0.14%
GOLF	B	-0.14%
SXI	B	-0.13%
NVCR	D	-0.13%
PRKS	B	-0.13%
VYX	C	-0.13%
JOE	F	-0.13%
AVPT	A	-0.13%
OSW	B	-0.13%
AGX	B	-0.13%
LBPH	A	-0.13%
SMR	A	-0.13%
TFIN	B	-0.13%
UPWK	C	-0.13%
TGLS	B	-0.12%
WRBY	A	-0.12%
ALKT	B	-0.12%
AGM	B	-0.12%
OCUL	C	-0.12%
RXST	F	-0.12%
PLUS	F	-0.12%
WWW	A	-0.12%
AVDX	B	-0.12%
HEES	C	-0.12%
ESE	B	-0.12%
WULF	C	-0.12%
TARS	C	-0.12%
PFSI	C	-0.11%
MGEE	A	-0.11%
NGVT	C	-0.11%
MIRM	C	-0.11%
KOS	D	-0.11%
BKE	B	-0.1%
AESI	B	-0.1%
LOB	C	-0.1%
PSMT	D	-0.1%
USPH	C	-0.1%
ENVX	F	-0.1%
STAA	F	-0.1%
CALX	D	-0.1%
CHEF	B	-0.1%
AVDL	F	-0.1%
MNKD	B	-0.1%
JANX	C	-0.1%
MGNI	A	-0.1%
SONO	C	-0.1%
EVH	F	-0.1%
PLAY	D	-0.09%
KALU	C	-0.09%
MTTR	B	-0.09%
XMTR	C	-0.09%
PWP	A	-0.09%
SLNO	C	-0.09%
PZZA	F	-0.09%
CWH	C	-0.09%
VECO	F	-0.09%
PRAX	C	-0.09%
CTS	C	-0.09%
INFN	D	-0.09%
THRM	F	-0.09%
COCO	A	-0.09%
PGNY	F	-0.09%
ERII	D	-0.08%
XPEL	C	-0.08%
NMRA	F	-0.08%
CGON	F	-0.08%
KFRC	D	-0.08%
ASAN	C	-0.08%
ATEN	A	-0.08%
VRDN	D	-0.08%
SOC	C	-0.08%
INOD	B	-0.08%
LZ	C	-0.08%
CENX	B	-0.08%
QNST	C	-0.08%
ARDX	F	-0.08%
KLG	D	-0.08%
WOR	F	-0.08%
REVG	B	-0.08%
HLIO	C	-0.08%
RVLV	B	-0.08%
RRR	F	-0.08%
GSAT	C	-0.08%
ELVN	C	-0.07%
RCUS	F	-0.07%
DRVN	B	-0.07%
ATEC	C	-0.07%
DNUT	F	-0.07%
SHLS	F	-0.07%
CLB	C	-0.07%
TRNS	F	-0.07%
WLY	B	-0.07%
ASGN	F	-0.07%
VZIO	A	-0.07%
VITL	D	-0.07%
DFIN	D	-0.07%
GPOR	A	-0.07%
JBI	F	-0.07%
IMAX	A	-0.07%
BTSG	B	-0.07%
SDGR	C	-0.07%
ADEA	C	-0.07%
NN	A	-0.07%
HRMY	F	-0.07%
AMN	F	-0.07%
SAVA	C	-0.07%
BLND	A	-0.07%
NEXT	B	-0.06%
AUPH	C	-0.06%
UDMY	D	-0.06%
RSI	B	-0.06%
SPRY	C	-0.06%
PACS	F	-0.06%
BLFS	C	-0.06%
KNSA	F	-0.06%
ACHR	B	-0.06%
SM	C	-0.06%
CIFR	C	-0.06%
GBTG	A	-0.06%
OEC	C	-0.06%
DFH	F	-0.06%
WAY	B	-0.06%
SEZL	B	-0.06%
IE	C	-0.06%
VVI	B	-0.06%
CDRE	F	-0.06%
LEU	C	-0.06%
JACK	D	-0.06%
ASO	F	-0.06%
PNTG	D	-0.06%
IMNM	F	-0.05%
ACMR	F	-0.05%
MCW	C	-0.05%
LNN	B	-0.05%
FA	D	-0.05%
ML	B	-0.05%
HCKT	B	-0.05%
ROOT	B	-0.05%
MGPI	F	-0.05%
HI	C	-0.05%
CGEM	F	-0.05%
CCB	A	-0.05%
DAWN	D	-0.05%
AMPL	B	-0.05%
TPB	A	-0.05%
TTGT	B	-0.05%
UTZ	D	-0.05%
GDYN	C	-0.05%
FSLY	F	-0.05%
OXM	F	-0.05%
UTI	A	-0.05%
DBRG	F	-0.04%
CASS	B	-0.04%
AMBP	D	-0.04%
LQDT	A	-0.04%
PTLO	F	-0.04%
KRUS	D	-0.04%
CASH	B	-0.04%
CEVA	B	-0.04%
DJCO	B	-0.04%
MRVI	F	-0.04%
AGL	F	-0.04%
IBTA	D	-0.04%
HLF	C	-0.04%
AIV	C	-0.04%
CVI	D	-0.04%
EVRI	A	-0.04%
AVBP	C	-0.04%
CRMD	C	-0.04%
APLT	C	-0.04%
LPRO	C	-0.04%
OSPN	B	-0.04%
MNMD	C	-0.04%
APLD	A	-0.04%
ACEL	C	-0.04%
GRBK	D	-0.04%
NRDS	C	-0.04%
ATGE	B	-0.04%
FWRG	C	-0.04%
LQDA	F	-0.04%
IBRX	C	-0.04%
IMXI	B	-0.04%
BLMN	F	-0.04%
GCT	C	-0.04%
PUBM	C	-0.04%
MEG	F	-0.04%
NGNE	F	-0.03%
NPO	A	-0.03%
GRND	A	-0.03%
LRMR	D	-0.03%
HLMN	B	-0.03%
XPOF	B	-0.03%
RDVT	A	-0.03%
BFS	C	-0.03%
NVEC	D	-0.03%
CELC	F	-0.03%
WRLD	D	-0.03%
TALK	C	-0.03%
GHM	A	-0.03%
MIR	A	-0.03%
CSV	B	-0.03%
DAVE	B	-0.03%
CBL	A	-0.03%
ANAB	F	-0.03%
ARHS	F	-0.03%
SKWD	A	-0.03%
PRTA	F	-0.03%
MITK	D	-0.03%
IRMD	C	-0.03%
CAPR	C	-0.03%
BIGC	C	-0.03%
ASPI	C	-0.03%
FC	F	-0.03%
BATRA	D	-0.03%
AHCO	D	-0.03%
DHIL	A	-0.03%
THRY	F	-0.03%
LWLG	D	-0.03%
ENFN	B	-0.03%
ESQ	B	-0.03%
TTI	B	-0.03%
ATXS	F	-0.03%
EVER	F	-0.03%
LFST	C	-0.03%
BBW	B	-0.03%
DMRC	B	-0.03%
PX	A	-0.03%
PLOW	D	-0.03%
LPG	F	-0.03%
SLP	F	-0.03%
XERS	C	-0.03%
SEMR	C	-0.03%
CTLP	B	-0.03%
CATX	F	-0.03%
STOK	D	-0.03%
GCMG	A	-0.03%
RIOT	C	-0.03%
SIBN	F	-0.03%
CLMB	A	-0.03%
EU	D	-0.03%
EAF	B	-0.03%
SBGI	B	-0.03%
ALTG	C	-0.02%
AEYE	C	-0.02%
LOVE	A	-0.02%
CRCT	F	-0.02%
LIF	C	-0.02%
SYNA	D	-0.02%
BMEA	F	-0.02%
HTLD	B	-0.02%
GCBC	C	-0.02%
PRME	F	-0.02%
SVV	F	-0.02%
NVEE	F	-0.02%
NTST	D	-0.02%
IIIN	D	-0.02%
JBT	A	-0.02%
EWCZ	D	-0.02%
SKYT	F	-0.02%
AIP	C	-0.02%
CHPT	F	-0.02%
SPIR	B	-0.02%
CBRL	C	-0.02%
WEST	C	-0.02%
DENN	D	-0.02%
KNTK	A	-0.02%
OCGN	F	-0.02%
NOG	B	-0.02%
TRAK	A	-0.02%
CENTA	C	-0.02%
REAL	B	-0.02%
LAZR	D	-0.02%
SIGA	F	-0.02%
FDMT	F	-0.02%
MAMA	A	-0.02%
EYPT	D	-0.02%
SEAT	F	-0.02%
PBPB	C	-0.02%
CYRX	F	-0.02%
CTRI	B	-0.02%
BLZE	D	-0.02%
JSPR	C	-0.02%
PRCH	B	-0.02%
INDI	C	-0.02%
CSTL	C	-0.02%
INST	B	-0.02%
SNCY	C	-0.02%
LUNG	F	-0.02%
AMRC	F	-0.02%
OLO	B	-0.02%
PCT	C	-0.02%
SABR	B	-0.02%
CMPO	B	-0.02%
ULCC	D	-0.02%
TH	C	-0.02%
VMD	C	-0.02%
CYH	F	-0.02%
BYRN	A	-0.02%
CAL	F	-0.02%
CCS	F	-0.02%
RIGL	B	-0.02%
CDXC	A	-0.02%
RCEL	B	-0.02%
NRC	F	-0.02%
METC	C	-0.02%
CON	D	-0.02%
ATEX	F	-0.02%
WERN	B	-0.02%
JELD	F	-0.02%
BYND	F	-0.02%
LESL	C	-0.02%
TYRA	D	-0.02%
VSEC	B	-0.02%
BWMN	C	-0.02%
EVLV	F	-0.02%
AEHR	F	-0.02%
FNA	B	-0.02%
GETY	F	-0.02%
SRDX	B	-0.02%
LIND	B	-0.02%
MNTK	F	-0.02%
NIC	B	-0.02%
BJRI	C	-0.02%
PLSE	C	-0.02%
MAX	F	-0.02%
ICHR	C	-0.02%
DSGR	C	-0.02%
OTLK	D	-0.01%
HQI	B	-0.01%
CVLG	B	-0.01%
REKR	F	-0.01%
AKYA	D	-0.01%
ODC	C	-0.01%
OVID	D	-0.01%
MCBS	B	-0.01%
CRGX	F	-0.01%
BLNK	F	-0.01%
YORW	D	-0.01%
EVGO	C	-0.01%
QBTS	C	-0.01%
GLSI	F	-0.01%
GCO	C	-0.01%
EVI	D	-0.01%
INVA	C	-0.01%
CTGO	D	-0.01%
CENT	C	-0.01%
MODV	D	-0.01%
NWPX	A	-0.01%
EP	C	-0.01%
OMER	B	-0.01%
AMWD	C	-0.01%
ACCD	F	-0.01%
EVEX	F	-0.01%
INMB	F	-0.01%
MLYS	D	-0.01%
FULC	F	-0.01%
STXS	C	-0.01%
SHBI	B	-0.01%
QUIK	F	-0.01%
GNE	F	-0.01%
ACHV	F	-0.01%
EMBC	D	-0.01%
AIRS	C	-0.01%
CADL	F	-0.01%
PSTL	D	-0.01%
NTIC	C	-0.01%
NPCE	C	-0.01%
DC	F	-0.01%
ARTV	F	-0.01%
MRAM	D	-0.01%
ALMS	F	-0.01%
LWAY	C	-0.01%
PFIS	B	-0.01%
SSTI	D	-0.01%
FBLG	F	-0.01%
IAS	D	-0.01%
LAW	F	-0.01%
SPNT	A	-0.01%
RILY	F	-0.01%
SCWO	F	-0.01%
OPRX	F	-0.01%
TRVI	C	-0.01%
EGAN	D	-0.01%
TAYD	F	-0.01%
GOOD	A	-0.01%
AQST	D	-0.01%
QRHC	F	-0.01%
XFOR	F	-0.01%
BRY	F	-0.01%
CRBP	F	-0.01%
STGW	B	-0.01%
INBX	F	-0.01%
ESPR	B	-0.01%
PRTH	A	-0.01%
KRRO	D	-0.01%
LVWR	C	-0.01%
ISPR	F	-0.01%
KFS	B	-0.01%
ULH	B	-0.01%
MVIS	F	-0.01%
PLUG	F	-0.01%
SKYH	C	-0.01%
GRPN	F	-0.01%
SCPH	F	-0.01%
SKIN	C	-0.01%
OPFI	A	-0.01%
WGS	C	-0.01%
LFMD	C	-0.01%
OLMA	F	-0.01%
PHAT	F	-0.01%
JYNT	D	-0.01%
TIPT	B	-0.01%
TSQ	D	-0.01%
INBK	B	-0.01%
TCX	F	-0.01%
JILL	D	-0.01%
BBAI	C	-0.01%
SYRE	D	-0.01%
RAPP	C	-0.01%
LCTX	C	-0.01%
PAYS	F	-0.01%
QUAD	B	-0.01%
BTMD	B	-0.01%
FFWM	C	-0.01%
ZYXI	D	-0.01%
MSGE	F	-0.01%
ACIC	B	-0.01%
TNGX	F	-0.01%
IRON	C	-0.01%
ARDT	F	-0.01%
SMTI	B	-0.01%
ADCT	F	-0.01%
PMTS	C	-0.01%
BRCC	F	-0.01%
TCRX	F	-0.01%
SGHT	F	-0.01%
OMI	F	-0.01%
LAB	D	-0.01%
RNAC	F	-0.01%
CDZI	C	-0.01%
LGIH	F	-0.01%
INFU	B	-0.01%
VSTM	D	-0.01%
CHCO	B	-0.01%
XOMA	C	-0.01%
FHTX	C	-0.01%
GWRS	B	-0.01%
LBRT	F	-0.01%
NEO	C	-0.01%
PROK	D	-0.01%
REX	D	-0.01%
MSEX	B	-0.01%
CTOS	B	-0.01%
SMID	B	-0.01%
PFMT	F	-0.01%
EVCM	B	-0.01%
SCL	D	-0.01%
HEAR	C	-0.01%
LXEO	F	-0.01%
CDLX	D	-0.01%
UMH	A	-0.01%
MGTX	C	-0.01%
IGMS	F	-0.01%
MLP	C	-0.01%
RGR	F	-0.01%
OFLX	D	-0.01%
SERA	F	-0.01%
CRD.B	C	-0.01%
KGS	A	-0.01%
ANDE	F	-0.01%
AVXL	C	-0.01%
UP	F	-0.01%
SMLR	B	-0.01%
LNZA	F	-0.01%
KRT	B	-0.01%
MLAB	F	-0.01%
NATH	B	-0.01%
CVRX	C	-0.01%
DSP	A	-0.01%
ZVRA	A	-0.01%
KLTR	A	-0.01%
ZURA	F	-0.01%
WTI	F	-0.01%
ASPN	F	-0.01%
GOGO	C	-0.01%
AVAH	B	-0.01%
RICK	C	-0.01%
PESI	C	-0.01%
INSE	B	-0.01%
CDT	F	-0.0%
SES	F	-0.0%
QRTEB	F	-0.0%
MKTW	F	-0.0%
SCLX	F	-0.0%
MGX	F	-0.0%
MASS	F	-0.0%
ULBI	F	-0.0%
GRWG	F	-0.0%
BAER	C	-0.0%
AGEN	F	-0.0%
HLVX	F	-0.0%
VGAS	C	-0.0%
TDUP	C	-0.0%
LYRA	F	-0.0%
BOLD	F	-0.0%
TELO	F	-0.0%
RSVR	B	-0.0%
SLDB	F	-0.0%
SKYE	D	-0.0%
VIRC	C	-0.0%
ATLC	A	-0.0%
RMNI	C	-0.0%
HOWL	F	-0.0%
NNE	B	-0.0%
RENB	F	-0.0%
VRCA	F	-0.0%
MEC	F	-0.0%
TVGN	D	-0.0%
BSVN	A	-0.0%
ELEV	D	-0.0%
DTI	F	-0.0%
GCTS	F	-0.0%
ATOS	F	-0.0%
ARQ	A	-0.0%
IIIV	B	-0.0%
DIBS	F	-0.0%
CTV	F	-0.0%
BOC	D	-0.0%
APEI	B	-0.0%
AISP	D	-0.0%
CIX	C	-0.0%
MITT	D	-0.0%
FBIZ	A	-0.0%
ALDX	C	-0.0%
AMPX	C	-0.0%
LSEA	F	-0.0%
DLHC	F	-0.0%
SHYF	C	-0.0%
UHG	B	-0.0%
ALNT	C	-0.0%
LASR	D	-0.0%
STTK	F	-0.0%
EVC	C	-0.0%
FUBO	F	-0.0%
HDSN	F	-0.0%
CZFS	A	-0.0%
SST	F	-0.0%
NATR	B	-0.0%
EHAB	D	-0.0%
SVCO	F	-0.0%
PROP	F	-0.0%
ORN	B	-0.0%
SGC	C	-0.0%
HBIO	F	-0.0%
GALT	C	-0.0%
AHH	D	-0.0%
NVTS	F	-0.0%
FIGS	F	-0.0%
ARIS	B	-0.0%
CHCT	C	-0.0%
PAL	F	-0.0%
CLBK	C	-0.0%
VALU	C	-0.0%
INNV	F	-0.0%
AOMR	F	-0.0%
OOMA	A	-0.0%
BOOM	F	-0.0%
MLR	C	-0.0%
AILE	F	-0.0%
MPX	C	-0.0%
CABA	F	-0.0%
SNDA	F	-0.0%
MOND	F	-0.0%
NGS	A	-0.0%
FG	B	-0.0%
GUTS	F	-0.0%
EYE	C	-0.0%
CRDF	D	-0.0%
ALXO	F	-0.0%
FLWS	F	-0.0%
BOW	A	-0.0%
MYFW	B	-0.0%
DNTH	F	-0.0%
ARKO	D	-0.0%
GMGI	C	-0.0%
SWBI	C	-0.0%
METCB	C	-0.0%
NOTE	F	-0.0%
EGY	F	-0.0%
HOV	D	-0.0%
KYTX	F	-0.0%
ANRO	F	-0.0%
MAPS	C	-0.0%
PTVE	B	-0.0%
USCB	B	-0.0%
CURV	C	-0.0%
CTNM	D	-0.0%
ATNM	F	-0.0%
LVO	F	-0.0%
LXRX	F	-0.0%
PSTX	D	-0.0%
EPM	A	-0.0%
NRDY	D	-0.0%
RDW	A	-0.0%
ITIC	A	-0.0%
OUST	C	-0.0%
CLPR	D	-0.0%
STKS	F	-0.0%
CRSR	D	-0.0%
OBIO	D	-0.0%
HLLY	F	-0.0%
PLL	C	-0.0%
AVO	B	-0.0%
CCO	D	-0.0%
CRVO	F	-0.0%
PEPG	F	-0.0%
FOR	F	-0.0%
BMBL	C	-0.0%
TTSH	D	-0.0%
STRW	C	-0.0%
WBTN	C	-0.0%
VERU	F	-0.0%
CVGW	D	-0.0%
VTSI	C	-0.0%
DCGO	B	-0.0%