FNDA vs. SMLV ETF Comparison

Comparison of Schwab Fundamental U.S. Small Company Index ETF (FNDA) to SPDR Russell 2000 Low Volatility (SMLV)

FNDA

Schwab Fundamental U.S. Small Company Index ETF

FNDA Description

The investment seeks to track as closely as possible, before fees and expenses, the total return of the Russell Fundamental U.S. Small Company Index. The index selects, ranks, and weights securities by fundamental measures of company size - adjusted sales, retained operating cash flow, and dividends plus buybacks - rather than market capitalization. Under normal circumstances, the fund will invest at least 90% of its net assets in stocks included in the index. It may invest up to 10% of its net assets in securities not included in the index.

Grade (RS Rating)

Last Trade

$30.83

Average Daily Volume

471,292

Number of Holdings ^*

996

* may have additional holdings in another (foreign) market

SMLV

SPDR Russell 2000 Low Volatility

SMLV Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index. The fund employs a sampling strategy, which means that the fund is not required to purchase all of the securities represented in the index. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index includes small cap U.S. equity securities, including business development companies, and is designed to deliver exposure to low volatility. It is non-diversified.

Grade (RS Rating)

Last Trade

$135.67

Average Daily Volume

5,917

Number of Holdings ^*

404

* may have additional holdings in another (foreign) market

Performance

Period	FNDA	SMLV
30 Days	1.38%	5.32%
60 Days	5.49%	9.13%
90 Days	7.98%	13.01%
12 Months	27.35%	37.56%

240 Overlapping Holdings

Symbol	Grade	Weight in FNDA	Weight in SMLV	Overlap
ACA	B	0.19%	0.13%	0.13%
ACIW	B	0.18%	0.1%	0.1%
ADUS	D	0.05%	0.09%	0.05%
AEIS	B	0.11%	0.05%	0.05%
AGM	A	0.03%	0.83%	0.03%
AGX	B	0.06%	0.38%	0.06%
AIN	C	0.09%	0.05%	0.05%
ALG	B	0.07%	0.09%	0.07%
ALKS	B	0.02%	0.05%	0.02%
ALRM	C	0.04%	0.04%	0.04%
AMED	F	0.12%	0.05%	0.05%
AMN	F	0.07%	0.02%	0.02%
AMPH	F	0.0%	0.04%	0.0%
AMSF	A	0.01%	0.73%	0.01%
APLE	B	0.17%	0.08%	0.08%
APOG	B	0.14%	0.09%	0.09%
ARCO	D	0.02%	0.03%	0.02%
ARKO	D	0.02%	0.13%	0.02%
AROC	A	0.14%	0.11%	0.11%
ASH	F	0.17%	0.08%	0.08%
ATNI	F	0.01%	0.05%	0.01%
AVNS	F	0.02%	0.05%	0.02%
AZTA	F	0.04%	0.02%	0.02%
AZZ	B	0.1%	0.07%	0.07%
BBSI	A	0.03%	0.09%	0.03%
BHE	B	0.21%	0.11%	0.11%
BKH	A	0.23%	0.21%	0.21%
BLKB	D	0.06%	0.09%	0.06%
BMI	B	0.07%	0.13%	0.07%
BNL	D	0.06%	0.12%	0.06%
BRC	C	0.07%	0.14%	0.07%
BRKL	A	0.02%	0.72%	0.02%
BUSE	A	0.06%	0.96%	0.06%
CABO	B	0.13%	0.06%	0.06%
CALM	A	0.2%	0.15%	0.15%
CBRL	C	0.15%	0.03%	0.03%
CBU	A	0.11%	1.65%	0.11%
CBZ	B	0.08%	0.12%	0.08%
CCOI	B	0.08%	0.09%	0.08%
CENT	C	0.01%	0.06%	0.01%
CFFN	A	0.03%	0.56%	0.03%
CHCO	A	0.05%	1.25%	0.05%
CMCO	C	0.05%	0.06%	0.05%
CNMD	C	0.05%	0.04%	0.04%
CNNE	B	0.03%	0.07%	0.03%
CNXC	F	0.04%	0.03%	0.03%
COLM	B	0.18%	0.12%	0.12%
CORT	B	0.1%	0.08%	0.08%
CPK	A	0.07%	0.2%	0.07%
CRC	B	0.19%	0.09%	0.09%
CSGS	A	0.09%	0.12%	0.09%
CSR	A	0.02%	0.13%	0.02%
CSV	B	0.02%	0.06%	0.02%
CSWI	B	0.08%	0.19%	0.08%
CTRE	D	0.03%	0.11%	0.03%
CTS	B	0.06%	0.07%	0.06%
CUZ	B	0.19%	0.1%	0.1%
CVCO	A	0.14%	0.06%	0.06%
CVLT	B	0.14%	0.14%	0.14%
CXT	D	0.07%	0.06%	0.06%
DEA	D	0.05%	0.16%	0.05%
DEI	B	0.22%	0.1%	0.1%
DHIL	A	0.02%	0.3%	0.02%
DNB	B	0.13%	0.09%	0.09%
DORM	B	0.13%	0.11%	0.11%
EBF	D	0.02%	0.25%	0.02%
ECVT	C	0.06%	0.06%	0.06%
EFSC	A	0.06%	1.08%	0.06%
EIG	A	0.09%	0.86%	0.09%
ELME	D	0.06%	0.13%	0.06%
ENS	D	0.19%	0.07%	0.07%
ENV	B	0.06%	0.06%	0.06%
EPAC	B	0.06%	0.08%	0.06%
ESE	A	0.09%	0.12%	0.09%
ESGR	B	0.05%	1.12%	0.05%
ETD	D	0.02%	0.05%	0.02%
EVTC	C	0.03%	0.65%	0.03%
EXPO	D	0.07%	0.12%	0.07%
FCF	A	0.07%	1.02%	0.07%
FCPT	C	0.04%	0.12%	0.04%
FELE	B	0.12%	0.14%	0.12%
FFIN	A	0.09%	1.19%	0.09%
FORM	F	0.06%	0.04%	0.04%
FSS	C	0.11%	0.11%	0.11%
FTDR	B	0.09%	0.12%	0.09%
FUL	F	0.17%	0.06%	0.06%
FULT	A	0.14%	0.98%	0.14%
GATX	A	0.22%	0.13%	0.13%
GBCI	A	0.17%	1.02%	0.17%
GEF	A	0.16%	0.12%	0.12%
GHC	A	0.23%	0.11%	0.11%
GLDD	B	0.03%	0.09%	0.03%
GTY	C	0.02%	0.17%	0.02%
HAE	A	0.1%	0.06%	0.06%
HCC	B	0.27%	0.11%	0.11%
HELE	C	0.13%	0.03%	0.03%
HFWA	A	0.02%	0.59%	0.02%
HI	C	0.11%	0.03%	0.03%
HIW	D	0.21%	0.1%	0.1%
HLF	C	0.11%	0.03%	0.03%
HMN	A	0.07%	1.08%	0.07%
HNI	A	0.18%	0.11%	0.11%
HOMB	A	0.1%	0.93%	0.1%
HSII	B	0.03%	0.1%	0.03%
HTLD	B	0.05%	0.14%	0.05%
HURN	B	0.06%	0.08%	0.06%
HWKN	C	0.07%	0.12%	0.07%
IART	C	0.07%	0.04%	0.04%
IBOC	A	0.11%	1.07%	0.11%
ICFI	F	0.09%	0.14%	0.09%
ICUI	D	0.14%	0.09%	0.09%
IDA	A	0.21%	0.26%	0.21%
INVA	C	0.04%	0.1%	0.04%
IOSP	C	0.13%	0.08%	0.08%
IPGP	D	0.12%	0.04%	0.04%
IRDM	C	0.08%	0.05%	0.05%
IRT	A	0.07%	0.1%	0.07%
IRWD	D	0.02%	0.03%	0.02%
ITGR	B	0.12%	0.07%	0.07%
JBGS	D	0.12%	0.08%	0.08%
JBSS	F	0.04%	0.09%	0.04%
JBT	B	0.12%	0.07%	0.07%
JJSF	C	0.07%	0.15%	0.07%
KAI	A	0.08%	0.09%	0.08%
KFRC	D	0.08%	0.07%	0.07%
KN	B	0.07%	0.07%	0.07%
KREF	D	0.02%	0.11%	0.02%
KRNY	A	0.02%	0.31%	0.02%
KW	C	0.08%	0.1%	0.08%
LAUR	A	0.17%	0.07%	0.07%
LILAK	F	0.08%	0.05%	0.05%
LIVN	C	0.05%	0.05%	0.05%
LKFN	A	0.04%	0.81%	0.04%
LNN	B	0.04%	0.1%	0.04%
LOPE	B	0.23%	0.08%	0.08%
LTC	B	0.04%	0.13%	0.04%
LXP	D	0.08%	0.13%	0.08%
LZB	A	0.15%	0.08%	0.08%
MATW	C	0.02%	0.05%	0.02%
MEI	F	0.01%	0.05%	0.01%
MGEE	A	0.1%	0.23%	0.1%
MGRC	B	0.09%	1.02%	0.09%
MMSI	A	0.09%	0.06%	0.06%
MNRO	B	0.03%	0.06%	0.03%
MOG.A	B	0.22%	0.1%	0.1%
MRCY	B	0.07%	0.08%	0.07%
MRTN	C	0.07%	0.11%	0.07%
MTRN	C	0.07%	0.05%	0.05%
MTX	B	0.15%	0.08%	0.08%
MWA	A	0.12%	0.12%	0.12%
MYRG	B	0.11%	0.06%	0.06%
NBHC	A	0.01%	1.15%	0.01%
NBTB	A	0.07%	1.37%	0.07%
NEOG	D	0.04%	0.04%	0.04%
NHC	B	0.1%	0.21%	0.1%
NHI	D	0.09%	0.12%	0.09%
NIC	A	0.0%	0.96%	0.0%
NNI	C	0.06%	1.56%	0.06%
NOMD	D	0.15%	0.09%	0.09%
NPK	B	0.02%	0.17%	0.02%
NTCT	B	0.1%	0.1%	0.1%
NVST	C	0.19%	0.05%	0.05%
NWBI	A	0.08%	1.17%	0.08%
NWE	C	0.17%	0.22%	0.17%
NWN	A	0.08%	0.19%	0.08%
OMCL	C	0.08%	0.08%	0.08%
ONB	B	0.17%	1.44%	0.17%
OSIS	A	0.09%	0.11%	0.09%
OXM	F	0.06%	0.03%	0.03%
PBH	A	0.11%	0.15%	0.11%
PCH	D	0.17%	0.08%	0.08%
PCRX	C	0.0%	0.03%	0.0%
PDCO	F	0.15%	0.04%	0.04%
PEBO	A	0.0%	0.77%	0.0%
PECO	A	0.11%	0.2%	0.11%
PINC	B	0.21%	0.12%	0.12%
PJT	A	0.07%	1.89%	0.07%
PLOW	D	0.01%	0.07%	0.01%
PLUS	F	0.11%	0.06%	0.06%
PLXS	B	0.24%	0.14%	0.14%
PNM	B	0.2%	0.23%	0.2%
POWI	D	0.08%	0.05%	0.05%
PRDO	B	0.09%	0.08%	0.08%
PRGS	B	0.06%	0.11%	0.06%
PRIM	A	0.12%	0.11%	0.11%
PRK	A	0.08%	1.42%	0.08%
PSMT	D	0.17%	0.08%	0.08%
PZZA	D	0.03%	0.04%	0.03%
RDN	C	0.24%	0.82%	0.24%
RDNT	B	0.04%	0.06%	0.04%
RGP	F	0.01%	0.08%	0.01%
RGR	F	0.03%	0.06%	0.03%
ROAD	B	0.07%	0.14%	0.07%
SAFT	A	0.08%	0.79%	0.08%
SASR	A	0.11%	1.09%	0.11%
SATS	D	0.38%	0.06%	0.06%
SBSI	B	0.02%	0.67%	0.02%
SCHL	F	0.06%	0.03%	0.03%
SCL	D	0.13%	0.11%	0.11%
SCSC	B	0.09%	0.05%	0.05%
SEM	B	0.22%	0.06%	0.06%
SFL	F	0.04%	0.06%	0.04%
SFNC	B	0.16%	0.85%	0.16%
SHEN	F	0.02%	0.04%	0.02%
SHOO	D	0.17%	0.06%	0.06%
SLGN	B	0.14%	0.2%	0.14%
SMP	C	0.03%	0.12%	0.03%
SNDR	B	0.14%	0.13%	0.13%
SPB	C	0.23%	0.05%	0.05%
SR	A	0.19%	0.19%	0.19%
SRCE	A	0.02%	0.76%	0.02%
STBA	A	0.06%	0.91%	0.06%
STRA	C	0.09%	0.05%	0.05%
SUPN	B	0.05%	0.07%	0.05%
SXC	A	0.05%	0.11%	0.05%
SXI	A	0.07%	0.09%	0.07%
SXT	C	0.14%	0.16%	0.14%
THRM	F	0.07%	0.04%	0.04%
TMP	A	0.02%	0.63%	0.02%
TNC	F	0.06%	0.07%	0.06%
TOWN	A	0.08%	1.06%	0.08%
TRMK	A	0.11%	1.0%	0.11%
TRS	D	0.06%	0.14%	0.06%
TTMI	B	0.22%	0.08%	0.08%
UNF	A	0.17%	0.13%	0.13%
USNA	C	0.03%	0.04%	0.03%
USPH	C	0.01%	0.04%	0.01%
VAL	F	0.03%	0.06%	0.03%
VIAV	B	0.11%	0.07%	0.07%
VIRT	A	0.22%	1.49%	0.22%
VMI	B	0.25%	0.13%	0.13%
VREX	C	0.01%	0.03%	0.01%
VRNT	D	0.03%	0.04%	0.03%
VSH	F	0.09%	0.05%	0.05%
WABC	A	0.02%	0.95%	0.02%
WAFD	A	0.16%	0.93%	0.16%
WDFC	A	0.06%	0.1%	0.06%
WEN	C	0.13%	0.1%	0.1%
WSBC	A	0.11%	0.89%	0.11%
ZD	B	0.16%	0.05%	0.05%

FNDA Overweight 756 Positions Relative to SMLV

Symbol	Grade	Weight
RCL	A	0.45%
GEO	A	0.42%
UAL	A	0.42%
FICO	A	0.36%
COIN	A	0.34%
ANF	C	0.34%
UTHR	B	0.32%
SF	A	0.31%
GME	C	0.31%
APP	A	0.3%
XPO	B	0.3%
VSCO	A	0.29%
BKU	A	0.29%
FLS	A	0.29%
AIT	A	0.28%
MAC	A	0.28%
HRI	B	0.28%
WAL	A	0.28%
KMPR	A	0.28%
CXW	B	0.28%
TXRH	A	0.28%
WBS	A	0.26%
OHI	C	0.26%
SWX	A	0.26%
CLH	C	0.26%
BWXT	A	0.26%
UAA	B	0.25%
WWD	B	0.25%
SLVM	B	0.25%
FIX	A	0.25%
CRS	A	0.25%
LITE	A	0.25%
PRG	A	0.25%
Z	A	0.25%
GVA	A	0.25%
MHO	D	0.25%
PNFP	A	0.24%
VRT	A	0.24%
SKYW	A	0.24%
DY	C	0.24%
SAIA	B	0.24%
HEI	A	0.24%
FRT	B	0.23%
INCY	B	0.23%
CFR	A	0.23%
FDP	A	0.23%
VLTO	D	0.23%
WTFC	A	0.23%
AWI	A	0.23%
PB	A	0.23%
SIG	B	0.23%
FNB	A	0.23%
DTM	A	0.23%
WH	A	0.23%
ESI	B	0.22%
KRC	C	0.22%
SPOT	A	0.22%
CBT	C	0.22%
CWK	B	0.22%
CR	A	0.22%
COOP	B	0.22%
AVNT	A	0.22%
ZM	B	0.22%
CADE	A	0.22%
CRUS	F	0.21%
FDS	A	0.21%
HWC	A	0.21%
ELAN	C	0.21%
TPC	C	0.21%
RXO	C	0.21%
CBSH	A	0.21%
KFY	B	0.21%
GMS	A	0.21%
BYD	A	0.21%
ASB	A	0.21%
TTEK	D	0.2%
KEX	A	0.2%
SBH	A	0.2%
FHB	A	0.2%
EXEL	B	0.2%
TRN	A	0.2%
SCCO	F	0.2%
OZK	A	0.2%
VLY	A	0.2%
MC	B	0.2%
ELS	B	0.2%
GBX	A	0.2%
UNIT	B	0.2%
ARCB	C	0.19%
JBLU	C	0.19%
STC	A	0.19%
TWLO	A	0.19%
LCII	D	0.19%
BIO	C	0.19%
ATGE	B	0.19%
FCN	F	0.19%
EAT	A	0.19%
DASH	B	0.19%
CCS	F	0.19%
ADTN	A	0.19%
ENVA	A	0.19%
HP	C	0.19%
AGNC	C	0.19%
OGS	A	0.19%
UBSI	A	0.19%
SMG	D	0.19%
COLB	A	0.19%
MAT	C	0.19%
KNF	B	0.19%
HLI	A	0.19%
WMK	B	0.18%
WYNN	D	0.18%
NYT	D	0.18%
CUBE	C	0.18%
AMH	C	0.18%
PATK	C	0.18%
RPRX	F	0.18%
DBRG	D	0.18%
TPL	A	0.18%
TEX	D	0.18%
SBRA	C	0.18%
GIII	D	0.18%
KMT	B	0.18%
URBN	C	0.18%
IMKTA	C	0.18%
BDC	B	0.17%
VNT	C	0.17%
HXL	F	0.17%
SSD	D	0.17%
ALE	A	0.17%
VVV	B	0.17%
NOW	B	0.17%
SUM	B	0.17%
UMBF	A	0.17%
CATY	A	0.17%
WTM	A	0.17%
MTDR	C	0.17%
AMKR	F	0.17%
VSTS	F	0.17%
PHIN	A	0.17%
WGO	B	0.17%
NJR	A	0.17%
SPR	D	0.17%
ESAB	B	0.17%
CSGP	F	0.17%
SN	C	0.17%
EEFT	C	0.17%
LFUS	D	0.17%
PIPR	A	0.17%
CNX	A	0.17%
PTEN	D	0.16%
RH	C	0.16%
EBS	C	0.16%
PLTR	A	0.16%
SKY	A	0.16%
COLD	F	0.16%
SIGI	A	0.16%
AVA	C	0.16%
VEEV	C	0.16%
OLLI	D	0.16%
APO	A	0.16%
OUT	A	0.16%
GTES	B	0.16%
MASI	A	0.16%
VYX	C	0.16%
LNW	D	0.16%
AGO	A	0.16%
ENTG	F	0.16%
B	A	0.16%
PFSI	D	0.16%
DNOW	A	0.15%
CHDN	C	0.15%
AGR	A	0.15%
TCBI	A	0.15%
GMED	A	0.15%
FWRD	D	0.15%
ROL	A	0.15%
TNL	A	0.15%
ARES	B	0.15%
CEIX	A	0.15%
MOD	C	0.15%
APAM	A	0.15%
LGIH	F	0.15%
SCS	B	0.15%
SLG	B	0.15%
UVV	B	0.15%
MTCH	F	0.15%
WD	D	0.15%
KTB	A	0.15%
NNN	D	0.15%
ESNT	D	0.15%
SITE	D	0.15%
RYN	D	0.14%
RRC	B	0.14%
EXLS	B	0.14%
ENSG	D	0.14%
NMRK	B	0.14%
AMWD	B	0.14%
VSTO	A	0.14%
JAZZ	A	0.14%
BOH	A	0.14%
CDP	C	0.14%
TDC	F	0.14%
WTS	A	0.14%
KAR	A	0.14%
OMI	F	0.14%
APG	C	0.14%
TYL	B	0.14%
H	B	0.14%
MKTX	C	0.14%
MLKN	F	0.14%
MCY	A	0.14%
BXMT	D	0.14%
CNK	A	0.14%
SLAB	F	0.14%
TPG	B	0.14%
CACC	D	0.14%
PPC	B	0.14%
YELP	C	0.14%
NEU	C	0.14%
CROX	F	0.14%
BCO	F	0.14%
HE	D	0.14%
SAH	A	0.14%
CGNX	D	0.14%
ABNB	C	0.13%
WMS	F	0.13%
RNR	D	0.13%
WEX	F	0.13%
FND	F	0.13%
HRB	D	0.13%
ATKR	C	0.13%
RGLD	C	0.13%
SMTC	C	0.13%
THS	F	0.13%
IGT	F	0.13%
DLB	D	0.13%
RLI	A	0.13%
UPBD	B	0.13%
EPR	D	0.13%
PLNT	A	0.13%
IDCC	A	0.13%
FTI	A	0.13%
COKE	C	0.13%
ABCB	A	0.13%
RYI	B	0.13%
DBX	C	0.13%
AMR	C	0.13%
ITRI	B	0.13%
HOPE	A	0.12%
FSLR	F	0.12%
CNM	F	0.12%
ETSY	D	0.12%
DRH	B	0.12%
CHX	C	0.12%
COMP	B	0.12%
IAC	D	0.12%
CHRD	F	0.12%
ANDE	C	0.12%
AXS	A	0.12%
HGV	B	0.12%
WTRG	C	0.12%
ECPG	B	0.12%
HEES	B	0.12%
PTC	B	0.12%
VRSN	D	0.12%
JELD	F	0.12%
TROX	F	0.12%
MSM	C	0.12%
LBRT	F	0.12%
RLJ	C	0.12%
TREX	C	0.12%
JWN	A	0.12%
LRN	A	0.12%
AIR	B	0.12%
RIG	D	0.12%
BANR	A	0.12%
WWW	A	0.12%
WDAY	B	0.12%
BGC	B	0.12%
FR	D	0.11%
EPC	F	0.11%
TECH	D	0.11%
ENOV	C	0.11%
PSN	C	0.11%
STAG	D	0.11%
CPNG	C	0.11%
STRL	B	0.11%
AX	A	0.11%
FN	C	0.11%
KALU	C	0.11%
XHR	B	0.11%
PPBI	A	0.11%
MPWR	F	0.11%
CIVI	F	0.11%
SKT	A	0.11%
MORN	B	0.11%
HPP	F	0.11%
BOKF	A	0.11%
DIOD	F	0.11%
CRL	D	0.11%
HTH	B	0.11%
DDS	B	0.11%
MANH	D	0.11%
BFAM	F	0.11%
FIBK	A	0.11%
MMS	D	0.11%
BLD	F	0.11%
CHE	D	0.11%
CVBF	A	0.11%
FHI	A	0.11%
TNET	F	0.11%
FFBC	A	0.11%
IBKR	A	0.11%
NGVT	B	0.11%
AM	A	0.1%
WSFS	A	0.1%
BOOT	C	0.1%
ABR	C	0.1%
SIRI	C	0.1%
GFF	A	0.1%
WSC	F	0.1%
AEO	F	0.1%
HTLF	A	0.1%
ENR	A	0.1%
ACHC	F	0.1%
FIVE	F	0.1%
UE	B	0.1%
UCB	A	0.1%
SHO	D	0.1%
COMM	D	0.1%
LANC	D	0.1%
DHC	F	0.1%
BKE	A	0.1%
PFS	A	0.1%
PAYC	B	0.1%
KRG	B	0.1%
SAM	B	0.1%
SSB	A	0.1%
BXC	B	0.1%
CHH	A	0.09%
LBRDK	B	0.09%
ALEX	B	0.09%
CNXN	D	0.09%
PDM	D	0.09%
AAON	A	0.09%
CENTA	C	0.09%
PINS	F	0.09%
RNG	B	0.09%
CWEN	D	0.09%
RAMP	C	0.09%
ESRT	D	0.09%
RBC	A	0.09%
ROCK	C	0.09%
NPO	A	0.09%
IBTX	A	0.09%
PBI	C	0.09%
MGY	A	0.09%
DXCM	C	0.09%
FRME	A	0.09%
RHP	B	0.09%
TW	B	0.09%
OTTR	C	0.09%
IBP	F	0.09%
INDB	A	0.09%
JACK	D	0.09%
VC	F	0.09%
BCPC	B	0.09%
SVC	F	0.09%
ROKU	D	0.09%
ORA	B	0.09%
BRKR	F	0.09%
MSA	D	0.09%
CNS	B	0.08%
ROIC	A	0.08%
YETI	F	0.08%
RRR	D	0.08%
DLX	A	0.08%
UCTT	F	0.08%
REVG	A	0.08%
DOLE	D	0.08%
CARG	A	0.08%
GOLF	A	0.08%
MD	B	0.08%
ATI	D	0.08%
ARI	D	0.08%
HL	D	0.08%
WNC	C	0.08%
OII	B	0.08%
TTD	B	0.08%
KLG	F	0.08%
ALGT	A	0.08%
PTON	B	0.08%
EGP	D	0.08%
PMT	D	0.08%
KOS	D	0.08%
BMRN	F	0.08%
WOR	F	0.08%
SYNA	C	0.08%
GO	C	0.08%
AKR	B	0.08%
TALO	C	0.08%
OPCH	F	0.08%
AZEK	B	0.08%
ALIT	C	0.08%
CNA	C	0.07%
KOP	C	0.07%
HHH	B	0.07%
CUBI	B	0.07%
QLYS	C	0.07%
SMCI	F	0.07%
SABR	B	0.07%
ONTO	F	0.07%
HLX	D	0.07%
BSIG	A	0.07%
NMIH	D	0.07%
EBC	A	0.07%
HQY	A	0.07%
EYE	C	0.07%
GWRE	B	0.07%
AUB	A	0.07%
OLED	F	0.07%
BLMN	F	0.07%
CRK	A	0.07%
ROG	D	0.07%
OPEN	F	0.07%
PR	C	0.07%
PTVE	C	0.07%
ADC	A	0.07%
REXR	F	0.07%
NX	C	0.07%
LYFT	B	0.07%
CASH	A	0.07%
ZWS	B	0.07%
NSP	F	0.07%
BDN	D	0.07%
PLAB	D	0.07%
PEB	F	0.07%
GNL	D	0.07%
CDE	D	0.07%
CAKE	A	0.07%
TILE	A	0.07%
LADR	A	0.07%
CWT	C	0.07%
COTY	F	0.06%
AXL	C	0.06%
SMPL	B	0.06%
FBP	A	0.06%
GPRE	F	0.06%
CVI	D	0.06%
CWST	A	0.06%
HCSG	B	0.06%
GTLS	A	0.06%
GES	F	0.06%
CAL	D	0.06%
TOST	A	0.06%
NTGR	A	0.06%
WHD	B	0.06%
MMI	A	0.06%
EMBC	C	0.06%
TDOC	C	0.06%
SEB	F	0.06%
GCI	D	0.06%
KTOS	B	0.06%
GFS	C	0.06%
REYN	D	0.06%
MEDP	D	0.06%
BSY	D	0.06%
OEC	C	0.06%
TRIP	D	0.06%
KWR	C	0.06%
AWR	A	0.06%
SONO	C	0.06%
DFIN	D	0.06%
PGRE	C	0.06%
ATSG	A	0.06%
VBTX	A	0.06%
LGF.A	F	0.06%
CWH	B	0.06%
PLAY	C	0.06%
KELYA	F	0.06%
HALO	D	0.06%
BKD	F	0.06%
ERIE	F	0.06%
EAF	B	0.06%
NBIX	D	0.06%
NSA	C	0.06%
EXPI	C	0.06%
AAT	C	0.06%
SJW	F	0.05%
UIS	B	0.05%
ACCO	B	0.05%
VRTS	A	0.05%
CNDT	B	0.05%
AAL	B	0.05%
TRNO	D	0.05%
AY	A	0.05%
NTB	B	0.05%
HAYW	A	0.05%
CODI	A	0.05%
KLIC	C	0.05%
VRRM	D	0.05%
NOVT	D	0.05%
VSAT	F	0.05%
MRC	B	0.05%
VRE	A	0.05%
ICHR	C	0.05%
FOXF	F	0.05%
ALK	A	0.05%
EPRT	C	0.05%
PODD	A	0.05%
SNBR	F	0.05%
FBNC	A	0.05%
BRBR	A	0.05%
CCO	D	0.05%
AMRK	F	0.05%
CHEF	B	0.05%
PSTG	F	0.05%
MELI	D	0.05%
BV	C	0.05%
MODG	F	0.05%
AMCX	C	0.05%
SENEA	A	0.04%
ASIX	B	0.04%
OFG	B	0.04%
IPAR	C	0.04%
CARS	B	0.04%
NVEE	F	0.04%
PRA	A	0.04%
CNSL	A	0.04%
SWBI	D	0.04%
INSW	F	0.04%
ENPH	F	0.04%
FBRT	C	0.04%
PUMP	F	0.04%
IHRT	B	0.04%
CPS	C	0.04%
GLOB	C	0.04%
WFRD	F	0.04%
GLNG	C	0.04%
RDUS	C	0.04%
ZUMZ	D	0.04%
GCO	B	0.04%
CSTM	F	0.04%
DHT	D	0.04%
GTN	F	0.04%
RES	F	0.04%
EXAS	F	0.04%
SFBS	A	0.04%
RGEN	D	0.04%
AGRO	A	0.04%
IVT	B	0.04%
PEN	B	0.04%
CMPR	F	0.04%
VTLE	C	0.04%
DXPE	A	0.04%
PARR	D	0.04%
ZI	D	0.04%
SNAP	D	0.04%
PRAA	C	0.04%
HLIO	B	0.04%
WING	F	0.04%
VCTR	B	0.04%
HAIN	F	0.04%
NBR	D	0.04%
NOG	A	0.04%
LSCC	D	0.04%
W	F	0.04%
HZO	F	0.04%
BZH	B	0.04%
MATX	B	0.04%
CRGY	A	0.04%
RNST	A	0.04%
GRBK	D	0.04%
COHU	D	0.04%
CMRE	B	0.03%
ASTH	F	0.03%
KNSL	C	0.03%
DAC	B	0.03%
XP	F	0.03%
WRLD	D	0.03%
CRAI	B	0.03%
MYGN	F	0.03%
RWT	D	0.03%
PAGS	F	0.03%
ZIMV	F	0.03%
THRY	F	0.03%
GDEN	B	0.03%
VIR	C	0.03%
CVGW	C	0.03%
HMST	D	0.03%
SBCF	A	0.03%
TKO	C	0.03%
PRLB	B	0.03%
ILPT	F	0.03%
UVE	A	0.03%
PEGA	B	0.03%
CPF	A	0.03%
SBLK	D	0.03%
MXL	C	0.03%
RMBS	C	0.03%
DT	C	0.03%
PRVA	B	0.03%
MP	B	0.03%
SSTK	F	0.03%
RKT	F	0.03%
RC	F	0.03%
STNG	F	0.03%
AMC	C	0.03%
CBL	B	0.03%
WTTR	A	0.03%
LEVI	F	0.03%
MATV	F	0.03%
CMTG	D	0.03%
TSE	F	0.03%
SCVL	F	0.03%
SGRY	F	0.03%
USM	B	0.03%
NUS	C	0.03%
SPSC	D	0.03%
STEP	A	0.03%
TRTX	B	0.03%
ACLS	F	0.03%
SNOW	C	0.03%
LYV	A	0.03%
NVRI	F	0.03%
EGBN	A	0.03%
ASTE	B	0.03%
VSEC	B	0.03%
BGS	F	0.03%
LPG	F	0.03%
PLCE	C	0.02%
CTRN	D	0.02%
CLDT	C	0.02%
HASI	F	0.02%
BRY	F	0.02%
FIZZ	B	0.02%
CLOV	C	0.02%
AMBC	C	0.02%
CLVT	F	0.02%
ALTO	F	0.02%
BRSP	B	0.02%
RYAM	B	0.02%
CMP	B	0.02%
CCSI	B	0.02%
DAY	B	0.02%
RUN	F	0.02%
DBI	F	0.02%
TEN	F	0.02%
OPK	A	0.02%
GNK	C	0.02%
WOW	C	0.02%
EDR	A	0.02%
CLB	C	0.02%
HVT	F	0.02%
AVO	B	0.02%
MTW	C	0.02%
MERC	F	0.02%
XPRO	F	0.02%
CNOB	A	0.02%
WASH	A	0.02%
CALX	F	0.02%
ZEUS	C	0.02%
BANF	A	0.02%
SHYF	C	0.02%
TCBK	A	0.02%
UFCS	A	0.02%
UTL	C	0.02%
HAFC	A	0.02%
BJRI	A	0.02%
STNE	F	0.02%
WMG	B	0.02%
PFC	A	0.02%
EVRI	A	0.02%
DCO	A	0.02%
AHCO	D	0.02%
TBI	F	0.02%
CLW	F	0.02%
WOOF	D	0.02%
MTUS	F	0.02%
GDOT	C	0.02%
OKTA	D	0.02%
OCFC	A	0.02%
SFIX	C	0.02%
VTOL	B	0.01%
IIIN	C	0.01%
RILY	F	0.01%
SNEX	A	0.01%
LESL	C	0.01%
FBK	A	0.01%
LGND	B	0.01%
GPRO	F	0.01%
MBUU	C	0.01%
BHLB	A	0.01%
PKST	F	0.01%
KE	C	0.01%
HLNE	A	0.01%
AVD	C	0.01%
JRVR	F	0.01%
PRM	C	0.01%
GSL	F	0.01%
SSP	F	0.01%
SRI	F	0.01%
MODV	C	0.01%
NU	C	0.01%
CRMT	F	0.01%
BMBL	C	0.01%
PETS	C	0.01%
MED	D	0.01%
CCRN	F	0.01%
FLGT	F	0.01%
MOV	C	0.01%
GPMT	C	0.01%
TPIC	F	0.01%
OPI	F	0.01%
IRBT	F	0.01%
MYE	F	0.01%
DENN	C	0.01%
SSYS	B	0.01%
AGL	F	0.01%
DIN	C	0.01%
WOLF	F	0.01%
TITN	C	0.01%
OIS	B	0.01%
FLWS	D	0.01%
CHGG	D	0.0%
EVH	F	0.0%
MGPI	D	0.0%
ALGM	F	0.0%
GIC	F	0.0%
TWI	F	0.0%
SEG	B	0.0%
HY	F	0.0%
WTI	F	0.0%
GSM	D	0.0%
CRNC	D	0.0%
SPWH	F	0.0%
DNUT	D	0.0%
HAYN	A	0.0%
ONEW	F	0.0%
THR	C	0.0%
INMD	C	0.0%
TTEC	F	0.0%
MSBI	A	0.0%
AMRC	F	0.0%
CMTL	F	0.0%
IIPR	F	0.0%
HOV	F	0.0%
REX	C	0.0%
SEDG	F	0.0%
LXU	C	0.0%
TBBK	A	0.0%
AOSL	F	0.0%
NR	D	0.0%
CRVL	B	0.0%
PFBC	A	0.0%

FNDA Underweight 164 Positions Relative to SMLV

Symbol	Grade	Weight
THG	A	-1.63%
CNO	A	-1.14%
SYBT	A	-1.13%
GCMG	B	-1.01%
QCRH	A	-0.97%
GABC	A	-0.84%
BLX	A	-0.84%
WU	F	-0.71%
FBMS	A	-0.68%
CTBI	A	-0.68%
OBK	A	-0.65%
EQC	A	-0.64%
PAX	C	-0.61%
OKLO	C	-0.61%
BFC	B	-0.6%
UVSP	A	-0.59%
FMBH	A	-0.57%
BHRB	A	-0.56%
NFG	A	-0.48%
FCBC	B	-0.48%
TRST	A	-0.44%
CAC	A	-0.44%
MCBS	A	-0.4%
TRIN	A	-0.4%
AROW	A	-0.37%
GSBC	A	-0.37%
CCNE	B	-0.37%
FMNB	A	-0.36%
THFF	A	-0.36%
NFBK	A	-0.35%
HTBI	A	-0.35%
ESQ	B	-0.34%
HONE	A	-0.34%
BHB	A	-0.34%
CCBG	A	-0.33%
SMBK	A	-0.33%
MPB	B	-0.31%
SPFI	A	-0.3%
HIFS	B	-0.29%
BSRR	B	-0.28%
ORRF	A	-0.27%
FMAO	A	-0.27%
ALRS	D	-0.27%
FLO	D	-0.26%
ACNB	A	-0.25%
FBIZ	A	-0.25%
FSBC	A	-0.24%
GLRE	B	-0.24%
HBCP	A	-0.23%
EBTC	A	-0.23%
WTBA	A	-0.23%
PFIS	A	-0.23%
BWB	B	-0.21%
CZNC	B	-0.2%
FSBW	B	-0.2%
ARTNA	F	-0.19%
SBR	A	-0.19%
GNTY	A	-0.19%
FLIC	A	-0.19%
FNLC	A	-0.18%
FRST	A	-0.17%
VLGEA	A	-0.17%
PSTL	C	-0.16%
CBNK	A	-0.16%
WSBF	B	-0.16%
CTO	B	-0.15%
GPOR	A	-0.15%
CMPO	C	-0.15%
WT	A	-0.15%
WERN	B	-0.14%
HSTM	B	-0.14%
TRC	D	-0.14%
GOOD	B	-0.13%
GENC	B	-0.13%
BCAL	A	-0.13%
TGNA	B	-0.13%
ADMA	C	-0.13%
HCKT	A	-0.12%
UTMD	D	-0.12%
PKE	B	-0.12%
LMAT	A	-0.11%
RNGR	A	-0.11%
RUSHA	B	-0.11%
UHT	D	-0.11%
GRC	B	-0.11%
NTST	D	-0.11%
UFPT	C	-0.11%
MLR	B	-0.11%
CASS	B	-0.1%
MSGS	B	-0.1%
NCNO	B	-0.1%
PAHC	A	-0.1%
HUBG	A	-0.1%
WINA	B	-0.09%
CHCT	C	-0.09%
RDWR	A	-0.09%
BFS	C	-0.09%
AFCG	F	-0.09%
AVT	C	-0.08%
AHH	D	-0.08%
ABM	B	-0.08%
INSM	D	-0.08%
RLGT	B	-0.08%
GMRE	D	-0.08%
FPI	B	-0.08%
PBT	B	-0.08%
GPI	A	-0.07%
BOX	B	-0.07%
SPOK	B	-0.07%
MGIC	C	-0.07%
SANM	B	-0.07%
TRNS	F	-0.07%
WEYS	A	-0.07%
IRMD	B	-0.06%
GPRK	C	-0.06%
FSTR	B	-0.06%
OFIX	B	-0.06%
ATEN	A	-0.06%
ITRN	C	-0.06%
FORR	F	-0.06%
IBEX	B	-0.06%
ARCH	B	-0.06%
PRGO	C	-0.06%
AGIO	B	-0.06%
LGTY	B	-0.06%
AORT	B	-0.05%
ATEX	F	-0.05%
ASGN	D	-0.05%
JOUT	F	-0.05%
TTGT	C	-0.05%
XNCR	B	-0.05%
CRI	D	-0.05%
NATR	B	-0.05%
HUN	F	-0.05%
NVEC	D	-0.05%
DK	D	-0.05%
GKOS	B	-0.05%
MLAB	F	-0.05%
BL	B	-0.05%
SPNS	F	-0.05%
TPH	D	-0.05%
WK	B	-0.05%
CEVA	B	-0.05%
ZIP	D	-0.04%
TBPH	B	-0.04%
ANIP	D	-0.04%
KIDS	F	-0.04%
HRMY	D	-0.04%
BOWL	F	-0.04%
SRDX	C	-0.04%
ATRC	C	-0.04%
VPG	F	-0.04%
NARI	C	-0.04%
PTCT	B	-0.04%
ANIK	D	-0.03%
RARE	F	-0.03%
OGN	F	-0.03%
JBI	F	-0.03%
NRC	F	-0.03%
VECO	F	-0.03%
LEG	F	-0.03%
ACAD	C	-0.02%
AAP	D	-0.02%
IMTX	F	-0.02%