HKND vs. FESM ETF Comparison

Comparison of Humankind US Stock ETF (HKND) to Fidelity Enhanced Small Cap ETF (FESM)

HKND

Humankind US Stock ETF

HKND Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Humankind US Equity Index (the ?Index?). The index is primarily comprised of domestic (U.S.) equity securities and may not be comprised of greater than 5% of foreign securities (including ADRs). The fund invests in the common stock of each company in the index in approximately the same proportion as represented in the index itself. Under normal conditions, it will invest at least 90% of its net assets, including borrowings for investment purposes, in securities contained in the index.

Grade (RS Rating)

Last Trade

$33.13

Average Daily Volume

4,959

Number of Holdings ^*

959

* may have additional holdings in another (foreign) market

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

$34.90

Average Daily Volume

98,357

Number of Holdings ^*

561

* may have additional holdings in another (foreign) market

Performance

Period	HKND	FESM
30 Days	0.43%	7.68%
60 Days	0.81%	10.83%
90 Days	4.34%	16.68%
12 Months	22.94%

201 Overlapping Holdings

Symbol	Grade	Weight in HKND	Weight in FESM	Overlap
ABCB	B	0.01%	0.35%	0.01%
ABM	B	0.02%	0.33%	0.02%
ABSI	D	0.0%	0.06%	0.0%
ABUS	D	0.0%	0.02%	0.0%
ACAD	C	0.02%	0.1%	0.02%
ACIW	B	0.01%	0.04%	0.01%
ACLX	B	0.01%	0.03%	0.01%
ADMA	B	0.01%	0.1%	0.01%
ADUS	D	0.01%	0.11%	0.01%
AEO	F	0.01%	0.51%	0.01%
AGIO	B	0.01%	0.14%	0.01%
AIT	A	0.01%	0.44%	0.01%
AKRO	C	0.01%	0.06%	0.01%
ALEC	C	0.0%	0.02%	0.0%
ALT	C	0.0%	0.02%	0.0%
AMPH	C	0.02%	0.12%	0.02%
AMRX	B	0.03%	0.13%	0.03%
ANF	D	0.0%	0.7%	0.0%
ANIP	C	0.01%	0.08%	0.01%
AORT	C	0.02%	0.24%	0.02%
ARCT	F	0.0%	0.06%	0.0%
ARQT	C	0.0%	0.09%	0.0%
ARVN	D	0.01%	0.07%	0.01%
ARWR	C	0.01%	0.05%	0.01%
ATRC	B	0.02%	0.13%	0.02%
AVNS	D	0.04%	0.19%	0.04%
AWR	B	0.04%	0.37%	0.04%
AXNX	A	0.01%	0.03%	0.01%
AXSM	B	0.02%	0.07%	0.02%
BBIO	F	0.02%	0.09%	0.02%
BBSI	A	0.0%	0.31%	0.0%
BCC	B	0.01%	0.17%	0.01%
BCO	F	0.01%	0.29%	0.01%
BCRX	C	0.01%	0.12%	0.01%
BEAM	C	0.01%	0.03%	0.01%
BECN	B	0.01%	0.03%	0.01%
BGC	B	0.01%	0.66%	0.01%
BGS	F	0.01%	0.08%	0.01%
BHE	B	0.01%	0.42%	0.01%
BKD	F	0.02%	0.08%	0.02%
BPMC	B	0.03%	0.17%	0.03%
BRC	B	0.01%	0.12%	0.01%
CADE	B	0.01%	0.17%	0.01%
CATY	B	0.0%	0.08%	0.0%
CLDX	F	0.01%	0.07%	0.01%
CMC	B	0.01%	0.06%	0.01%
CNMD	C	0.06%	0.36%	0.06%
CNO	B	0.01%	0.27%	0.01%
CNXN	C	0.03%	0.18%	0.03%
COGT	D	0.0%	0.06%	0.0%
COLL	F	0.01%	0.09%	0.01%
COMP	B	0.02%	0.62%	0.02%
CORT	B	0.02%	0.21%	0.02%
CPRX	B	0.01%	0.14%	0.01%
CRAI	B	0.0%	0.22%	0.0%
CRNX	B	0.02%	0.14%	0.02%
CRVL	B	0.01%	0.04%	0.01%
CTKB	C	0.0%	0.05%	0.0%
CWT	D	0.07%	0.22%	0.07%
CYTK	C	0.03%	0.17%	0.03%
DIOD	F	0.01%	0.04%	0.01%
DNLI	B	0.01%	0.07%	0.01%
DOC	C	0.01%	0.02%	0.01%
DVAX	B	0.01%	0.02%	0.01%
DYN	D	0.01%	0.12%	0.01%
EME	B	0.02%	0.56%	0.02%
ENS	D	0.01%	0.62%	0.01%
ENSG	C	0.03%	0.03%	0.03%
EOLS	F	0.01%	0.1%	0.01%
ETNB	D	0.0%	0.05%	0.0%
EWTX	B	0.02%	0.17%	0.02%
EXLS	A	0.01%	0.53%	0.01%
EXPI	B	0.01%	0.16%	0.01%
FDP	B	0.57%	0.08%	0.08%
FHI	A	0.01%	0.53%	0.01%
FIX	B	0.01%	0.52%	0.01%
FOLD	D	0.02%	0.17%	0.02%
FORM	D	0.0%	0.23%	0.0%
FULT	B	0.0%	0.18%	0.0%
GERN	D	0.01%	0.05%	0.01%
GH	B	0.02%	0.3%	0.02%
GIC	D	0.0%	0.06%	0.0%
GKOS	A	0.02%	0.1%	0.02%
GNW	A	0.03%	0.33%	0.03%
GT	C	0.01%	0.37%	0.01%
HAE	B	0.06%	0.12%	0.06%
HALO	B	0.03%	0.22%	0.03%
HURN	B	0.01%	0.21%	0.01%
HWC	B	0.01%	0.21%	0.01%
HWKN	C	0.02%	0.49%	0.02%
IART	C	0.11%	0.08%	0.08%
IBP	F	0.0%	0.66%	0.0%
ICFI	C	0.01%	0.04%	0.01%
IDT	B	0.01%	0.03%	0.01%
IDYA	D	0.01%	0.04%	0.01%
IMVT	D	0.01%	0.01%	0.01%
INSM	D	0.02%	0.45%	0.02%
IOVA	D	0.02%	0.05%	0.02%
IRWD	D	0.01%	0.07%	0.01%
ITRI	B	0.0%	0.48%	0.0%
JBSS	F	0.01%	0.02%	0.01%
JXN	B	0.03%	0.63%	0.03%
KBH	D	0.03%	0.22%	0.03%
KE	C	0.01%	0.07%	0.01%
KNF	C	0.01%	0.14%	0.01%
KRYS	B	0.02%	0.11%	0.02%
KURA	D	0.01%	0.11%	0.01%
KYMR	B	0.01%	0.03%	0.01%
LANC	B	0.01%	0.47%	0.01%
LGF.A	C	0.01%	0.05%	0.01%
LGF.A	C	0.01%	0.07%	0.01%
LGND	B	0.01%	0.09%	0.01%
LMAT	B	0.01%	0.03%	0.01%
LNTH	F	0.04%	0.15%	0.04%
LUMN	B	0.13%	0.83%	0.13%
MCY	B	0.02%	0.03%	0.02%
MDGL	B	0.03%	0.15%	0.03%
MDXG	B	0.01%	0.02%	0.01%
MEDP	D	0.04%	0.07%	0.04%
MHO	D	0.02%	0.63%	0.02%
MMSI	A	0.07%	0.42%	0.07%
MTH	D	0.03%	0.33%	0.03%
MYGN	F	0.01%	0.09%	0.01%
NARI	C	0.01%	0.04%	0.01%
NRIX	B	0.0%	0.14%	0.0%
NTLA	F	0.01%	0.02%	0.01%
NUVB	C	0.0%	0.06%	0.0%
NUVL	D	0.03%	0.05%	0.03%
NVAX	F	0.01%	0.08%	0.01%
OABI	C	0.0%	0.05%	0.0%
ONTO	F	0.0%	0.06%	0.0%
OPCH	F	0.03%	0.16%	0.03%
OPEN	F	0.02%	0.08%	0.02%
ORIC	C	0.0%	0.07%	0.0%
OSCR	F	0.0%	0.14%	0.0%
PBH	A	0.01%	0.21%	0.01%
PCRX	D	0.02%	0.08%	0.02%
PCVX	D	0.04%	0.43%	0.04%
PDCO	D	0.01%	0.03%	0.01%
PJT	B	0.01%	0.17%	0.01%
PLAB	C	0.0%	0.18%	0.0%
PLXS	B	0.02%	0.23%	0.02%
PRG	C	0.01%	0.55%	0.01%
PRLB	B	0.01%	0.08%	0.01%
PTCT	B	0.02%	0.17%	0.02%
PTGX	C	0.01%	0.09%	0.01%
QTRX	C	0.0%	0.06%	0.0%
RCKT	F	0.01%	0.03%	0.01%
REZI	A	0.03%	0.41%	0.03%
RLAY	F	0.0%	0.03%	0.0%
RNA	B	0.01%	0.21%	0.01%
RVMD	B	0.04%	0.24%	0.04%
RXRX	C	0.01%	0.09%	0.01%
RYTM	B	0.01%	0.13%	0.01%
SAGE	F	0.0%	0.05%	0.0%
SANA	F	0.01%	0.04%	0.01%
SANM	B	0.03%	0.38%	0.03%
SBH	C	0.01%	0.21%	0.01%
SEM	B	0.11%	0.07%	0.07%
SF	A	0.03%	0.31%	0.03%
SFM	B	0.01%	0.96%	0.01%
SIGI	B	0.01%	0.46%	0.01%
SJW	D	0.05%	0.3%	0.05%
SMMT	D	0.03%	0.01%	0.01%
SNDX	D	0.01%	0.07%	0.01%
SNEX	B	0.03%	0.26%	0.03%
SRRK	C	0.02%	0.15%	0.02%
STEP	B	0.0%	0.21%	0.0%
SUPN	B	0.01%	0.02%	0.01%
SVRA	D	0.0%	0.02%	0.0%
SWTX	D	0.01%	0.02%	0.01%
SXT	B	0.01%	0.34%	0.01%
TDOC	C	0.01%	0.08%	0.01%
TDS	B	0.04%	0.16%	0.04%
TEX	C	0.01%	0.37%	0.01%
TGTX	B	0.01%	0.08%	0.01%
TMCI	C	0.0%	0.03%	0.0%
TMHC	C	0.04%	0.51%	0.04%
TNC	F	0.01%	0.22%	0.01%
TNDM	F	0.03%	0.04%	0.03%
TNET	D	0.02%	0.02%	0.02%
TPH	D	0.02%	0.36%	0.02%
TRUP	B	0.01%	0.14%	0.01%
TVTX	B	0.01%	0.16%	0.01%
TWST	C	0.01%	0.14%	0.01%
UBSI	B	0.01%	0.19%	0.01%
UCB	B	0.0%	0.14%	0.0%
UCTT	F	0.01%	0.31%	0.01%
UFPI	B	0.01%	0.03%	0.01%
UMBF	B	0.01%	0.5%	0.01%
UPBD	B	0.01%	0.49%	0.01%
URBN	C	0.01%	0.08%	0.01%
UVE	B	0.0%	0.04%	0.0%
VCEL	B	0.01%	0.03%	0.01%
VCYT	B	0.0%	0.14%	0.0%
VERA	B	0.01%	0.02%	0.01%
WTS	B	0.03%	0.4%	0.03%
XNCR	B	0.01%	0.02%	0.01%
XRX	F	0.02%	0.19%	0.02%
YMAB	D	0.0%	0.03%	0.0%
ZEUS	C	0.0%	0.11%	0.0%

HKND Overweight 759 Positions Relative to FESM

Symbol	Grade	Weight
GOOGL	B	4.05%
PG	D	3.85%
MSFT	C	2.29%
AAPL	D	2.14%
JNJ	F	2.05%
ABBV	D	1.98%
DE	D	1.98%
LLY	D	1.78%
MOS	D	1.74%
INTC	C	1.67%
MRK	F	1.57%
CTVA	C	1.54%
PFE	F	1.53%
ADM	F	1.36%
CL	F	1.22%
SYK	A	1.16%
WMT	A	1.14%
BDX	D	1.13%
ABT	B	1.12%
DELL	C	1.1%
AMGN	F	1.04%
BMY	B	1.0%
CF	B	0.99%
CI	D	0.98%
GEHC	D	0.95%
UNH	B	0.92%
LH	B	0.9%
HCA	D	0.9%
ECL	D	0.89%
T	C	0.89%
VZ	D	0.87%
GILD	B	0.83%
BAX	F	0.8%
TMO	F	0.79%
HPQ	B	0.79%
BG	D	0.79%
BSX	A	0.75%
FMC	F	0.75%
JPM	B	0.71%
CMCSA	B	0.7%
AMZN	B	0.64%
AGCO	F	0.64%
VRTX	B	0.63%
DGX	A	0.61%
INGR	B	0.55%
BAC	A	0.54%
DHR	F	0.53%
SJM	F	0.48%
WFC	B	0.47%
IQV	F	0.45%
ZBH	C	0.45%
MCK	B	0.45%
CVS	F	0.44%
REGN	F	0.43%
TMUS	A	0.42%
KVUE	A	0.42%
C	B	0.41%
MS	A	0.4%
HD	B	0.39%
PEP	F	0.38%
GS	B	0.35%
AWK	D	0.35%
CHD	B	0.35%
ISRG	A	0.34%
ELV	F	0.33%
CAG	F	0.33%
COR	A	0.33%
DD	D	0.32%
VLTO	D	0.32%
THC	B	0.32%
CAH	B	0.31%
MDLZ	F	0.3%
CNC	F	0.29%
J	B	0.28%
EW	F	0.28%
SPB	A	0.28%
GIS	F	0.27%
FELE	B	0.26%
BBY	D	0.26%
HOLX	D	0.26%
K	A	0.26%
BIIB	F	0.26%
LOW	B	0.25%
IBM	D	0.25%
CLX	B	0.24%
KR	A	0.23%
WBA	D	0.23%
AIG	C	0.23%
VTRS	B	0.23%
AXP	B	0.22%
HUM	F	0.21%
DIS	C	0.21%
HPE	B	0.21%
ALL	A	0.21%
PGR	B	0.21%
CHTR	B	0.2%
MET	C	0.2%
MRNA	F	0.2%
ORCL	A	0.2%
RMD	B	0.2%
COF	B	0.19%
UHS	D	0.19%
SOLV	C	0.18%
CSCO	A	0.18%
DOW	F	0.18%
ZWS	B	0.18%
V	A	0.17%
PRU	B	0.17%
TRV	B	0.17%
TSLA	B	0.17%
TFX	F	0.15%
QCOM	F	0.15%
ENOV	C	0.15%
A	F	0.15%
DHI	D	0.15%
FSLR	F	0.15%
CTLT	C	0.14%
LEN	D	0.14%
AMAT	F	0.14%
JBL	B	0.14%
MU	C	0.13%
DXCM	C	0.13%
TGT	C	0.13%
HSIC	F	0.13%
USB	B	0.13%
AVTR	F	0.13%
RVTY	C	0.12%
RUN	F	0.12%
BK	B	0.12%
MA	A	0.12%
AVGO	B	0.12%
DVA	C	0.12%
MMC	C	0.12%
CBRE	B	0.12%
ICUI	C	0.11%
GLW	B	0.11%
INCY	B	0.11%
ILMN	C	0.11%
AIZ	A	0.11%
TFC	A	0.1%
TXN	B	0.1%
BIO	C	0.1%
MASI	B	0.1%
HIG	C	0.1%
NVDA	A	0.1%
WDC	D	0.1%
ENPH	F	0.1%
RPRX	F	0.1%
TITN	D	0.1%
COST	B	0.1%
PNC	A	0.1%
WTRG	B	0.09%
LXU	B	0.09%
ACM	B	0.09%
FTRE	D	0.09%
CRM	B	0.09%
MAN	F	0.09%
UTHR	B	0.09%
OGN	F	0.09%
NFLX	A	0.09%
CRL	C	0.09%
FLO	F	0.09%
LRCX	F	0.09%
PYPL	B	0.09%
AHCO	C	0.09%
KMB	F	0.09%
ALNY	D	0.09%
STT	B	0.09%
EMBC	B	0.08%
POST	D	0.08%
BKNG	A	0.08%
SCHW	A	0.08%
ITGR	B	0.08%
EHC	B	0.08%
CTSH	A	0.08%
PODD	B	0.08%
SYF	B	0.08%
RDNT	B	0.08%
AFL	C	0.08%
ALG	B	0.08%
MTD	F	0.08%
AMP	A	0.08%
KD	B	0.07%
WST	C	0.07%
CDW	F	0.07%
EQR	D	0.07%
SYY	B	0.07%
TECH	C	0.07%
BMRN	F	0.07%
WBD	C	0.07%
UAN	C	0.07%
PHM	D	0.07%
ADP	A	0.07%
MOH	F	0.07%
FNF	C	0.07%
DXC	B	0.07%
CPB	F	0.07%
WAT	B	0.07%
DFS	B	0.07%
GWW	B	0.06%
CMI	B	0.06%
WM	A	0.06%
MMM	D	0.06%
HSY	D	0.06%
PFG	C	0.06%
VTR	C	0.06%
EXEL	B	0.06%
SRPT	F	0.06%
SQ	A	0.06%
AYI	A	0.06%
MAR	A	0.06%
SNX	C	0.06%
IFF	F	0.06%
RGA	A	0.06%
GMED	B	0.06%
FOX	A	0.06%
CRBG	C	0.06%
RJF	A	0.06%
TJX	B	0.06%
AMD	F	0.06%
ACI	C	0.06%
FI	A	0.06%
AVB	B	0.06%
NBIX	C	0.06%
SMG	C	0.06%
ROKU	C	0.05%
OPK	C	0.05%
MKC	D	0.05%
SHW	B	0.05%
MAA	C	0.05%
LNC	B	0.05%
LBRDA	B	0.05%
JLL	C	0.05%
APH	B	0.05%
SUI	F	0.05%
TOL	B	0.05%
NVR	D	0.05%
OMC	B	0.05%
MKL	A	0.05%
WLK	F	0.05%
PEN	B	0.05%
EQH	B	0.05%
BRKR	F	0.05%
UNFI	B	0.05%
L	B	0.05%
EBAY	D	0.05%
GXO	B	0.05%
BERY	C	0.05%
SCSC	B	0.04%
BEN	C	0.04%
RSG	A	0.04%
AZO	C	0.04%
CFG	B	0.04%
ORI	A	0.04%
FIS	C	0.04%
KEY	B	0.04%
EMR	A	0.04%
ADI	D	0.04%
MTB	B	0.04%
HUN	F	0.04%
AJG	B	0.04%
OMI	F	0.04%
ORLY	A	0.04%
NOVT	C	0.04%
PH	B	0.04%
SWK	F	0.04%
GPC	D	0.04%
CTAS	A	0.04%
ESS	C	0.04%
UNM	A	0.04%
CR	B	0.04%
ITCI	B	0.04%
TTC	D	0.04%
WMG	B	0.04%
TROW	B	0.04%
CINF	A	0.04%
MD	B	0.04%
WRB	B	0.04%
JEF	B	0.04%
VKTX	D	0.04%
KLG	D	0.04%
NTRS	A	0.04%
FYBR	D	0.04%
ALLY	C	0.04%
FITB	A	0.04%
EXAS	F	0.04%
FAF	D	0.04%
INVH	D	0.04%
ADBE	C	0.04%
KLAC	F	0.04%
EXPE	B	0.04%
LPLA	A	0.04%
WHR	B	0.04%
THG	A	0.03%
NSP	F	0.03%
MSI	B	0.03%
ARW	F	0.03%
CME	B	0.03%
EL	F	0.03%
WELL	B	0.03%
NEO	C	0.03%
CSL	C	0.03%
CHWY	B	0.03%
INTU	A	0.03%
ON	D	0.03%
VOYA	A	0.03%
RKT	D	0.03%
MIDD	C	0.03%
FAST	B	0.03%
CPT	D	0.03%
AMH	D	0.03%
SPGI	D	0.03%
FLGT	F	0.03%
ITW	B	0.03%
RS	B	0.03%
SPG	B	0.03%
ELS	C	0.03%
IONS	F	0.03%
HBAN	A	0.03%
NWS	B	0.03%
ENR	B	0.03%
OFIX	B	0.03%
ICE	D	0.03%
KDP	D	0.03%
GME	C	0.03%
UPS	D	0.03%
DAR	B	0.03%
IT	A	0.03%
VYX	B	0.03%
AFG	B	0.03%
CG	B	0.03%
IRDM	C	0.03%
IPG	F	0.03%
UDR	D	0.03%
LKQ	D	0.03%
NTAP	C	0.03%
APO	B	0.03%
SGRY	D	0.03%
GPN	B	0.03%
AMT	F	0.03%
LYV	A	0.03%
RHI	B	0.03%
PPG	F	0.03%
ZBRA	A	0.03%
LNN	B	0.03%
IVZ	C	0.03%
RF	A	0.03%
ULTA	C	0.02%
PANW	A	0.02%
BBWI	C	0.02%
SCI	B	0.02%
VRT	B	0.02%
XRAY	F	0.02%
MSEX	B	0.02%
FHN	B	0.02%
NATL	C	0.02%
ARES	B	0.02%
SEE	C	0.02%
EVR	B	0.02%
GL	B	0.02%
VIR	C	0.02%
BXP	D	0.02%
ZION	B	0.02%
HST	C	0.02%
AAP	D	0.02%
UTZ	C	0.02%
JANX	C	0.02%
AVT	C	0.02%
IDXX	D	0.02%
ATR	A	0.02%
TTEK	C	0.02%
WCC	B	0.02%
R	B	0.02%
ADTN	B	0.02%
CENTA	C	0.02%
SNPS	B	0.02%
ALIT	B	0.02%
SMPL	B	0.02%
COOP	B	0.02%
MRVL	B	0.02%
ESAB	B	0.02%
CCS	F	0.02%
APLS	F	0.02%
BHF	B	0.02%
RARE	F	0.02%
SWKS	F	0.02%
CMA	B	0.02%
DKS	D	0.02%
BR	A	0.02%
TSCO	D	0.02%
ATEC	C	0.02%
ADV	F	0.02%
PFSI	D	0.02%
ANET	C	0.02%
DOX	A	0.02%
OTIS	D	0.02%
MAS	D	0.02%
IBKR	A	0.02%
ENTG	D	0.02%
HAIN	F	0.02%
CCI	F	0.02%
GAP	C	0.02%
EA	A	0.02%
NWL	B	0.02%
NDAQ	B	0.02%
THS	F	0.02%
AMKR	F	0.02%
ROK	B	0.02%
APD	B	0.02%
BRO	A	0.02%
LECO	B	0.02%
OMF	B	0.02%
TPG	B	0.02%
LILAK	F	0.02%
AZTA	D	0.02%
BLDR	D	0.02%
DLR	B	0.02%
JJSF	B	0.02%
ZG	B	0.02%
SSNC	C	0.02%
GFS	C	0.02%
PAYX	B	0.02%
PWR	B	0.02%
NOW	A	0.02%
KELYA	F	0.02%
SIRI	C	0.02%
WU	F	0.02%
WMS	F	0.02%
CHE	D	0.02%
KMPR	A	0.02%
WSO	A	0.02%
ROST	F	0.02%
TWI	D	0.02%
UNP	D	0.02%
HLT	A	0.02%
MMS	C	0.02%
PLD	F	0.02%
EQIX	C	0.02%
MCHP	F	0.02%
AMED	F	0.02%
USM	B	0.02%
MCO	C	0.02%
PCTY	A	0.01%
YORW	F	0.01%
SONO	C	0.01%
POOL	D	0.01%
USPH	C	0.01%
VCTR	B	0.01%
SFNC	B	0.01%
ACHC	F	0.01%
TRIP	D	0.01%
ONB	A	0.01%
NYT	C	0.01%
SIBN	C	0.01%
CGEM	F	0.01%
PLAY	C	0.01%
MIRM	B	0.01%
IEX	B	0.01%
VZIO	C	0.01%
OCUL	C	0.01%
BKU	B	0.01%
LFST	B	0.01%
REG	B	0.01%
DLB	C	0.01%
VSAT	F	0.01%
GMS	B	0.01%
FIVE	F	0.01%
MAT	C	0.01%
NX	C	0.01%
BRX	B	0.01%
FOUR	B	0.01%
CCRN	F	0.01%
WTM	A	0.01%
GTES	B	0.01%
TYL	B	0.01%
FRPT	B	0.01%
WH	A	0.01%
FLS	B	0.01%
ELVN	C	0.01%
CVCO	B	0.01%
PLUS	D	0.01%
MC	B	0.01%
KIDS	F	0.01%
MTN	D	0.01%
APAM	B	0.01%
WGO	B	0.01%
PII	F	0.01%
IRTC	C	0.01%
DORM	B	0.01%
SSB	B	0.01%
PB	A	0.01%
ANSS	B	0.01%
SYNA	D	0.01%
SATS	C	0.01%
HAS	D	0.01%
ACT	D	0.01%
GRBK	D	0.01%
DBX	B	0.01%
LBPH	A	0.01%
VRDN	C	0.01%
WPC	F	0.01%
KFRC	C	0.01%
LFUS	D	0.01%
TOST	A	0.01%
APG	B	0.01%
FICO	A	0.01%
RLI	A	0.01%
OZK	B	0.01%
SSYS	C	0.01%
HGV	B	0.01%
FNA	C	0.01%
VEEV	B	0.01%
DAWN	B	0.01%
WD	C	0.01%
QRVO	F	0.01%
BXC	B	0.01%
TCBI	A	0.01%
AVO	B	0.01%
FNB	A	0.01%
VNT	B	0.01%
UI	A	0.01%
ASB	B	0.01%
FG	B	0.01%
LCII	D	0.01%
XYL	D	0.01%
SKY	C	0.01%
CBSH	A	0.01%
HMN	B	0.01%
PSTG	D	0.01%
CNM	D	0.01%
SNA	A	0.01%
MTG	D	0.01%
TDC	D	0.01%
FDS	A	0.01%
RDN	C	0.01%
PIPR	B	0.01%
VRSN	C	0.01%
HTH	B	0.01%
IPGP	C	0.01%
ASIX	B	0.01%
CSX	B	0.01%
CXT	D	0.01%
KWR	C	0.01%
MTCH	F	0.01%
IOSP	B	0.01%
IRT	B	0.01%
PNFP	B	0.01%
MSM	B	0.01%
SBAC	D	0.01%
RYAN	B	0.01%
UNF	B	0.01%
DAY	B	0.01%
CABO	C	0.01%
IR	A	0.01%
WBS	B	0.01%
RCM	B	0.01%
CFR	B	0.01%
FND	F	0.01%
GSAT	B	0.01%
IAC	F	0.01%
JKHY	C	0.01%
MNKD	C	0.01%
UWMC	F	0.01%
VLY	B	0.01%
CC	D	0.01%
MORN	A	0.01%
MSCI	B	0.01%
COIN	B	0.01%
SITE	C	0.01%
LAMR	D	0.01%
EVH	F	0.01%
AOS	F	0.01%
APP	A	0.01%
AGL	F	0.01%
AIV	D	0.01%
NGVT	B	0.01%
CE	F	0.01%
INVA	B	0.01%
HLI	B	0.01%
FL	D	0.01%
ARDX	F	0.01%
CRSR	C	0.01%
HRB	D	0.01%
DFH	F	0.01%
KEX	A	0.01%
PAYC	B	0.01%
ARE	F	0.01%
UHAL	C	0.01%
WTFC	A	0.01%
AXTA	B	0.01%
O	D	0.01%
PINC	B	0.01%
TGNA	B	0.01%
NMRK	B	0.01%
TTWO	A	0.01%
FTV	D	0.01%
HRMY	D	0.01%
ERIE	F	0.01%
BURL	C	0.01%
WAL	B	0.01%
KFY	B	0.01%
CDNS	B	0.01%
BOKF	B	0.01%
HUBB	B	0.01%
NHC	B	0.01%
ASTH	F	0.01%
CGON	C	0.01%
ALB	C	0.01%
KIM	B	0.01%
STGW	B	0.01%
KO	F	0.01%
NSIT	F	0.01%
IRM	C	0.01%
KEYS	B	0.01%
TTMI	A	0.01%
H	C	0.01%
EMN	D	0.01%
CSTL	C	0.01%
FCNCA	B	0.01%
CNXC	F	0.01%
TRMB	B	0.01%
TER	D	0.01%
TNL	A	0.01%
TARS	B	0.01%
BZH	D	0.01%
ASH	F	0.01%
SPTN	F	0.01%
VSH	F	0.01%
RRX	C	0.01%
HOV	D	0.01%
SEIC	A	0.01%
CLH	B	0.01%
VNO	C	0.01%
CSGP	D	0.01%
ESI	B	0.01%
HHH	B	0.01%
SMCI	F	0.01%
AME	A	0.01%
PRVA	B	0.01%
GNRC	B	0.01%
BC	D	0.01%
SNV	B	0.01%
FFIV	B	0.01%
ADSK	B	0.01%
NTRA	B	0.01%
TRU	D	0.01%
VAC	B	0.01%
AMN	F	0.01%
RGEN	D	0.01%
ASGN	B	0.01%
NVST	C	0.01%
GEN	A	0.01%
EWBC	A	0.01%
FDX	B	0.01%
CNDT	B	0.01%
AMG	C	0.01%
CIEN	B	0.01%
EEFT	C	0.01%
DOV	A	0.01%
THO	B	0.01%
KROS	B	0.01%
INSP	D	0.01%
EPAM	C	0.01%
UFPT	B	0.01%
GDDY	A	0.01%
LGIH	F	0.01%
COHR	B	0.01%
NXST	C	0.01%
MRVI	F	0.01%
VRSK	A	0.01%
JNPR	C	0.01%
ROP	B	0.01%
WDAY	B	0.01%
FTNT	A	0.01%
URI	B	0.01%
AKAM	F	0.01%
ABNB	C	0.01%
PSA	D	0.01%
TXG	F	0.01%
STC	C	0.01%
ALGN	D	0.01%
EDR	C	0.01%
AMRK	F	0.01%
FCN	D	0.01%
EFX	D	0.01%
SCLX	F	0.0%
VIRT	B	0.0%
ANAB	F	0.0%
BLFS	B	0.0%
CELC	D	0.0%
PRME	C	0.0%
STOK	C	0.0%
ALGM	F	0.0%
OLMA	F	0.0%
LYEL	F	0.0%
SIGA	D	0.0%
MNMD	C	0.0%
DFIN	D	0.0%
LQDA	C	0.0%
WAFD	B	0.0%
WSFS	A	0.0%
MSGS	B	0.0%
NDSN	B	0.0%
TW	B	0.0%
TYRA	F	0.0%
PHAT	F	0.0%
FDMT	F	0.0%
BSY	D	0.0%
COLB	B	0.0%
REYN	D	0.0%
SAVA	D	0.0%
PGNY	F	0.0%
MMI	B	0.0%
HZO	D	0.0%
GOLF	B	0.0%
SAFT	B	0.0%
GGG	B	0.0%
APLT	B	0.0%
AEIS	B	0.0%
NVEE	C	0.0%
CNS	B	0.0%
IMNM	F	0.0%
CNA	D	0.0%
COTY	F	0.0%
MLI	B	0.0%
FHB	B	0.0%
AZZ	B	0.0%
MODG	F	0.0%
CBT	B	0.0%
TKR	F	0.0%
HOMB	A	0.0%
RGNX	F	0.0%
IRON	B	0.0%
TTD	A	0.0%
HSII	B	0.0%
CBZ	B	0.0%
EYPT	D	0.0%
CHH	B	0.0%
MLYS	C	0.0%
MPWR	F	0.0%
TKO	D	0.0%
SPRY	B	0.0%
RCUS	C	0.0%
CRUS	F	0.0%
PLRX	C	0.0%
SCHL	D	0.0%
UFCS	A	0.0%
GBCI	B	0.0%
ROG	D	0.0%
FRT	C	0.0%
DCI	A	0.0%
ITT	A	0.0%
PNTG	D	0.0%
CARR	D	0.0%
PTC	B	0.0%
SLAB	F	0.0%
NSC	B	0.0%
CTS	B	0.0%
EXR	D	0.0%

HKND Underweight 360 Positions Relative to FESM

Symbol	Grade	Weight
CVLT	B	-0.78%
CRS	B	-0.78%
FN	B	-0.77%
QTWO	B	-0.74%
SPSC	D	-0.71%
SKYW	B	-0.71%
PRMW	C	-0.68%
PAYO	B	-0.63%
FLR	C	-0.61%
CVNA	B	-0.61%
MWA	B	-0.58%
MTX	B	-0.58%
NWBI	B	-0.57%
OUT	C	-0.57%
CRGY	B	-0.56%
YELP	C	-0.56%
FUL	F	-0.55%
CSGS	B	-0.54%
IGT	D	-0.53%
MTDR	C	-0.51%
WT	B	-0.5%
LKFN	B	-0.5%
CRDO	B	-0.5%
QLYS	C	-0.48%
AIR	C	-0.47%
YOU	C	-0.47%
MXL	C	-0.45%
CODI	B	-0.44%
LMND	B	-0.42%
VMEO	B	-0.41%
CMPR	D	-0.41%
BMI	B	-0.4%
BANF	B	-0.4%
ESRT	D	-0.38%
AAT	C	-0.38%
BAND	C	-0.38%
PECO	B	-0.37%
APOG	B	-0.37%
CBU	B	-0.36%
CECO	D	-0.36%
COMM	C	-0.35%
NMIH	D	-0.35%
AROC	B	-0.35%
WOOF	D	-0.34%
COKE	D	-0.33%
FFIN	B	-0.33%
MATX	B	-0.33%
EQC	B	-0.33%
SWX	B	-0.32%
ATI	D	-0.32%
GFF	C	-0.31%
VICR	B	-0.31%
NJR	B	-0.31%
KAR	A	-0.3%
PFS	B	-0.3%
TRNO	D	-0.3%
BDC	B	-0.3%
KTOS	B	-0.29%
FBP	B	-0.29%
PHR	D	-0.28%
YEXT	B	-0.28%
LNW	C	-0.28%
VREX	C	-0.27%
WK	B	-0.27%
PRGS	A	-0.27%
ACA	B	-0.27%
CDP	C	-0.27%
PSN	A	-0.26%
TRN	A	-0.25%
EZPW	B	-0.25%
AX	B	-0.25%
HP	C	-0.25%
PDFS	B	-0.24%
SHAK	B	-0.24%
HY	F	-0.24%
AXGN	C	-0.24%
SXC	B	-0.24%
EGHT	C	-0.24%
PLPC	A	-0.24%
MOG.A	B	-0.24%
NBR	C	-0.24%
CTRE	C	-0.23%
BVS	C	-0.23%
BUSE	B	-0.23%
MAC	B	-0.23%
CEIX	B	-0.23%
TENB	D	-0.22%
CPF	B	-0.22%
ZUO	C	-0.22%
TILE	B	-0.22%
EPAC	B	-0.22%
HLX	D	-0.22%
HQY	A	-0.22%
CALM	A	-0.22%
OTTR	C	-0.21%
ROCK	B	-0.21%
MRTN	B	-0.21%
AXL	C	-0.21%
CRC	B	-0.21%
RNST	B	-0.21%
ALKS	B	-0.21%
HSTM	A	-0.2%
BL	B	-0.2%
WABC	B	-0.2%
MUR	F	-0.2%
VRE	C	-0.2%
OI	D	-0.2%
HL	D	-0.2%
RMBS	C	-0.19%
SLVM	C	-0.19%
SMTC	B	-0.19%
HNI	B	-0.19%
PBI	B	-0.19%
STNG	F	-0.18%
PRO	C	-0.18%
HCI	B	-0.18%
PD	C	-0.18%
ALE	A	-0.17%
SFBS	B	-0.17%
GEO	B	-0.17%
LMB	B	-0.16%
ALRM	C	-0.16%
CSWI	B	-0.16%
ARLO	D	-0.16%
BOH	B	-0.16%
INTA	B	-0.16%
DCO	C	-0.16%
PRK	B	-0.16%
TRTX	C	-0.16%
CNK	A	-0.15%
SAH	B	-0.15%
AMSF	A	-0.15%
CPS	B	-0.15%
ETD	D	-0.15%
DY	C	-0.15%
FLXS	C	-0.15%
OFG	C	-0.15%
FRME	A	-0.14%
NFBK	B	-0.14%
DOMO	C	-0.14%
VRTS	B	-0.14%
SLG	C	-0.14%
WKC	D	-0.14%
ODP	F	-0.13%
DXPE	B	-0.13%
RDFN	D	-0.13%
EXTR	B	-0.13%
SRCE	A	-0.13%
WSR	A	-0.13%
KREF	D	-0.13%
GHC	B	-0.13%
WDFC	A	-0.12%
CDNA	D	-0.12%
WS	B	-0.12%
LADR	B	-0.11%
AMSC	B	-0.11%
DK	D	-0.11%
SKT	A	-0.11%
EAT	A	-0.11%
UNIT	B	-0.11%
AUR	C	-0.11%
HCAT	C	-0.11%
GMRE	F	-0.11%
AMBA	B	-0.1%
TRUE	B	-0.1%
FFBC	B	-0.1%
LYTS	B	-0.1%
AUB	B	-0.1%
VTOL	B	-0.1%
BCPC	B	-0.1%
CHX	D	-0.1%
PACB	D	-0.1%
REPX	B	-0.1%
AGS	B	-0.1%
DEA	D	-0.09%
SPT	D	-0.09%
ADPT	B	-0.09%
NGVC	B	-0.09%
RVNC	F	-0.09%
HLIT	D	-0.09%
AMAL	B	-0.09%
SSTK	D	-0.09%
INDB	B	-0.09%
WSBC	B	-0.09%
ARAY	C	-0.08%
WSBF	B	-0.08%
MTRN	B	-0.08%
KTB	B	-0.08%
AKBA	C	-0.08%
CDE	D	-0.08%
REPL	B	-0.08%
WVE	B	-0.08%
ATNI	F	-0.08%
NABL	F	-0.08%
JAMF	F	-0.08%
FLNC	C	-0.08%
RUSHA	B	-0.08%
SCS	C	-0.08%
EBS	C	-0.08%
FSS	C	-0.08%
MRC	B	-0.08%
TCMD	B	-0.08%
EGP	D	-0.08%
HBI	B	-0.07%
NBTB	B	-0.07%
CCCC	F	-0.07%
PGC	B	-0.07%
PL	B	-0.07%
CTBI	B	-0.07%
ANNX	C	-0.07%
WEAV	B	-0.07%
RAMP	C	-0.07%
THR	D	-0.07%
LIVN	D	-0.07%
CDMO	B	-0.07%
WMK	B	-0.07%
FTDR	B	-0.07%
BLKB	C	-0.07%
BSRR	B	-0.07%
MYE	F	-0.07%
HRTX	F	-0.06%
KOD	C	-0.06%
CDXS	B	-0.06%
CERS	D	-0.06%
ERAS	B	-0.06%
LUNR	C	-0.06%
LPSN	F	-0.06%
APPN	B	-0.06%
SGMO	B	-0.06%
UEC	B	-0.06%
AVD	D	-0.06%
RM	D	-0.06%
RXO	C	-0.06%
HURC	C	-0.06%
HRTG	D	-0.06%
FISI	B	-0.06%
KALV	F	-0.05%
NPAB	F	-0.05%
ALX	D	-0.05%
COUR	F	-0.05%
VYGR	D	-0.05%
OIS	C	-0.05%
BY	B	-0.05%
ALLK	C	-0.05%
TXRH	B	-0.05%
ZIP	C	-0.05%
MLNK	B	-0.05%
PAHC	B	-0.05%
VNDA	B	-0.05%
STRO	C	-0.05%
EE	B	-0.05%
NSSC	F	-0.05%
UHT	D	-0.05%
CVBF	B	-0.05%
OPY	B	-0.05%
BSIG	A	-0.05%
ATRO	F	-0.05%
MCRI	A	-0.05%
FNKO	D	-0.04%
EDIT	F	-0.04%
BASE	C	-0.04%
HUMA	D	-0.04%
BDTX	F	-0.04%
MGNX	D	-0.04%
FATE	F	-0.04%
NXRT	C	-0.04%
ASC	F	-0.04%
CWK	B	-0.04%
DSGN	A	-0.04%
MSBI	B	-0.04%
VBTX	B	-0.04%
TSHA	D	-0.04%
CXM	C	-0.04%
TSVT	F	-0.04%
BRSP	B	-0.04%
TERN	D	-0.04%
ZNTL	D	-0.04%
FLYW	C	-0.04%
ORGO	C	-0.04%
BLBD	F	-0.04%
DAKT	B	-0.04%
PKE	B	-0.03%
FIZZ	B	-0.03%
PRTS	D	-0.03%
SPNS	F	-0.03%
GPRE	F	-0.03%
MBWM	B	-0.03%
NKTX	F	-0.03%
KPTI	C	-0.03%
SNBR	D	-0.03%
NPK	C	-0.03%
ANIK	F	-0.03%
HNST	B	-0.03%
SFL	F	-0.03%
FBK	B	-0.03%
GIII	C	-0.03%
CWCO	D	-0.03%
MQ	F	-0.03%
VSCO	B	-0.03%
STBA	C	-0.03%
RMAX	C	-0.03%
HIMS	B	-0.03%
STNE	D	-0.03%
ACET	F	-0.03%
UVSP	B	-0.03%
MED	D	-0.03%
ENTA	F	-0.03%
HROW	B	-0.03%
TSE	F	-0.03%
BHLB	B	-0.03%
RLMD	D	-0.03%
PSMT	D	-0.03%
SHEN	F	-0.03%
ETWO	D	-0.03%
GRC	B	-0.03%
CHGG	D	-0.03%
ARRY	D	-0.03%
CSR	C	-0.03%
ENVX	F	-0.02%
RIG	D	-0.02%
URGN	D	-0.02%
EB	C	-0.02%
ANGO	B	-0.02%
DIN	C	-0.02%
ONTF	C	-0.02%
RCKY	F	-0.02%
AOSL	F	-0.02%
TNYA	D	-0.02%
XBIT	C	-0.02%
MCB	A	-0.02%
MRSN	C	-0.02%
CTMX	F	-0.02%
TCBK	B	-0.02%
PGEN	D	-0.02%
SPOK	A	-0.02%
FCF	B	-0.02%
NKTR	C	-0.02%
ZIMV	F	-0.02%
PRAA	C	-0.02%
FSTR	C	-0.02%
CRBU	D	-0.02%
USLM	B	-0.02%
GCI	C	-0.02%
PBYI	C	-0.02%
CARA	D	-0.01%
BOLT	D	-0.01%
WFRD	D	-0.01%
GATX	B	-0.01%
INO	F	-0.01%
FGEN	D	-0.01%
ZDGE	F	-0.01%
CHRS	F	-0.01%
SCWX	C	-0.01%
ALVR	F	-0.01%
SPCE	D	-0.01%
UPLD	C	-0.01%
NOVA	F	-0.01%
ADAP	F	-0.01%
AVTE	D	-0.01%
CCBG	B	-0.01%