MFUS vs. ESML ETF Comparison

Comparison of PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) to iShares MSCI USA Small-Cap ESG Optimized ETF (ESML)

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$50.35

Average Daily Volume

7,922

Number of Holdings ^*

809

* may have additional holdings in another (foreign) market

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

$41.61

Average Daily Volume

109,653

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

Performance

Period	MFUS	ESML
30 Days	3.55%	3.88%
60 Days	10.60%	9.57%
90 Days	6.54%	9.72%
12 Months	36.03%	29.14%

288 Overlapping Holdings

Symbol	Grade	Weight in MFUS	Weight in ESML	Overlap
AA	B	0.01%	0.19%	0.01%
AAP	F	0.01%	0.06%	0.01%
ABG	D	0.07%	0.12%	0.07%
ABM	D	0.04%	0.08%	0.04%
ACA	C	0.02%	0.13%	0.02%
ADC	C	0.01%	0.12%	0.01%
AEO	C	0.09%	0.1%	0.09%
AGCO	D	0.02%	0.15%	0.02%
AGNC	B	0.04%	0.13%	0.04%
AIR	C	0.02%	0.06%	0.02%
ALSN	A	0.09%	0.22%	0.09%
AMED	D	0.01%	0.1%	0.01%
AMG	B	0.06%	0.18%	0.06%
AMWD	C	0.01%	0.07%	0.01%
AN	D	0.07%	0.08%	0.07%
ANDE	D	0.02%	0.07%	0.02%
ANF	D	0.24%	0.15%	0.15%
APAM	B	0.03%	0.09%	0.03%
APG	F	0.02%	0.06%	0.02%
AR	C	0.04%	0.21%	0.04%
ARMK	C	0.01%	0.24%	0.01%
AROC	B	0.04%	0.09%	0.04%
ARW	C	0.05%	0.11%	0.05%
ATGE	D	0.05%	0.05%	0.05%
ATI	C	0.05%	0.18%	0.05%
ATR	A	0.08%	0.23%	0.08%
AVA	D	0.03%	0.2%	0.03%
AVT	B	0.04%	0.29%	0.04%
AWI	A	0.03%	0.21%	0.03%
AXTA	C	0.02%	0.26%	0.02%
AYI	A	0.08%	0.29%	0.08%
BC	C	0.06%	0.08%	0.06%
BCC	C	0.07%	0.17%	0.07%
BDC	A	0.04%	0.2%	0.04%
BERY	C	0.06%	0.18%	0.06%
BFAM	C	0.03%	0.28%	0.03%
BHE	C	0.02%	0.16%	0.02%
BJ	B	0.03%	0.25%	0.03%
BKU	D	0.03%	0.06%	0.03%
BLD	D	0.04%	0.3%	0.04%
BRC	C	0.01%	0.1%	0.01%
BRKR	D	0.02%	0.17%	0.02%
BWA	C	0.01%	0.19%	0.01%
BWXT	A	0.09%	0.26%	0.09%
CACI	A	0.09%	0.22%	0.09%
CADE	B	0.01%	0.13%	0.01%
CALM	A	0.07%	0.05%	0.05%
CASY	D	0.15%	0.5%	0.15%
CBSH	D	0.01%	0.2%	0.01%
CBT	B	0.05%	0.14%	0.05%
CC	D	0.02%	0.06%	0.02%
CFR	B	0.01%	0.08%	0.01%
CHE	D	0.06%	0.15%	0.06%
CLF	D	0.01%	0.07%	0.01%
CLH	B	0.04%	0.06%	0.04%
CMA	C	0.04%	0.19%	0.04%
CMC	D	0.05%	0.21%	0.05%
CNM	F	0.01%	0.25%	0.01%
CNO	B	0.04%	0.18%	0.04%
CNX	A	0.06%	0.23%	0.06%
COHR	B	0.03%	0.27%	0.03%
COKE	C	0.03%	0.06%	0.03%
COLD	D	0.04%	0.07%	0.04%
COOP	B	0.05%	0.05%	0.05%
CPRI	C	0.01%	0.07%	0.01%
CR	A	0.01%	0.19%	0.01%
CRI	D	0.06%	0.05%	0.05%
CROX	C	0.02%	0.23%	0.02%
CRS	B	0.1%	0.14%	0.1%
CRUS	D	0.04%	0.18%	0.04%
CSGS	B	0.01%	0.1%	0.01%
CUBE	C	0.05%	0.23%	0.05%
CVLT	B	0.04%	0.21%	0.04%
CW	A	0.1%	0.22%	0.1%
CWEN	C	0.02%	0.06%	0.02%
CWEN	C	0.02%	0.08%	0.02%
DCI	B	0.04%	0.25%	0.04%
DEI	A	0.01%	0.02%	0.01%
DK	F	0.03%	0.04%	0.03%
DLB	D	0.02%	0.17%	0.02%
DNOW	F	0.02%	0.05%	0.02%
DTM	A	0.01%	0.23%	0.01%
DXC	C	0.01%	0.1%	0.01%
DY	C	0.01%	0.11%	0.01%
ECPG	F	0.01%	0.12%	0.01%
EHC	C	0.09%	0.29%	0.09%
ELAN	D	0.01%	0.17%	0.01%
EPC	F	0.02%	0.05%	0.02%
ESI	C	0.01%	0.14%	0.01%
ESNT	A	0.01%	0.08%	0.01%
EVR	C	0.11%	0.1%	0.1%
EWBC	B	0.02%	0.33%	0.02%
EXP	C	0.06%	0.06%	0.06%
FAF	C	0.02%	0.17%	0.02%
FCN	C	0.06%	0.23%	0.06%
FELE	C	0.01%	0.23%	0.01%
FHN	D	0.01%	0.19%	0.01%
FIX	A	0.05%	0.36%	0.05%
FL	F	0.04%	0.07%	0.04%
FLEX	B	0.04%	0.31%	0.04%
FLO	D	0.04%	0.05%	0.04%
FLR	B	0.01%	0.1%	0.01%
FR	D	0.02%	0.1%	0.02%
FTI	B	0.04%	0.33%	0.04%
FYBR	C	0.01%	0.14%	0.01%
GAP	F	0.05%	0.12%	0.05%
GATX	F	0.04%	0.16%	0.04%
GBX	C	0.03%	0.05%	0.03%
GEF	B	0.02%	0.05%	0.02%
GEF	B	0.02%	0.05%	0.02%
GME	D	0.01%	0.18%	0.01%
GMED	B	0.02%	0.1%	0.02%
GNRC	B	0.05%	0.19%	0.05%
GPI	C	0.09%	0.19%	0.09%
GPK	D	0.08%	0.29%	0.08%
GT	F	0.01%	0.06%	0.01%
GVA	A	0.04%	0.07%	0.04%
GWRE	A	0.02%	0.41%	0.02%
HAE	F	0.02%	0.11%	0.02%
HBI	B	0.05%	0.07%	0.05%
HCC	C	0.07%	0.05%	0.05%
HNI	B	0.02%	0.15%	0.02%
HOG	D	0.03%	0.24%	0.03%
HRB	C	0.08%	0.21%	0.08%
HXL	F	0.03%	0.15%	0.03%
IBKR	A	0.05%	0.26%	0.05%
ICUI	B	0.01%	0.08%	0.01%
IDCC	A	0.01%	0.11%	0.01%
INGR	B	0.06%	0.41%	0.06%
IOSP	F	0.01%	0.08%	0.01%
ITT	C	0.08%	0.3%	0.08%
IVZ	A	0.03%	0.25%	0.03%
JBGS	C	0.01%	0.07%	0.01%
JEF	A	0.02%	0.09%	0.02%
JELD	D	0.01%	0.05%	0.01%
JHG	A	0.04%	0.45%	0.04%
JLL	C	0.06%	0.38%	0.06%
JWN	D	0.04%	0.06%	0.04%
JXN	A	0.09%	0.14%	0.09%
KBH	D	0.04%	0.23%	0.04%
KBR	A	0.02%	0.4%	0.02%
KD	D	0.04%	0.09%	0.04%
KMPR	D	0.02%	0.05%	0.02%
KSS	D	0.03%	0.06%	0.03%
KTB	C	0.05%	0.15%	0.05%
LAD	C	0.02%	0.19%	0.02%
LBRDK	C	0.02%	0.06%	0.02%
LEA	F	0.01%	0.13%	0.01%
LECO	D	0.05%	0.19%	0.05%
LEG	D	0.02%	0.07%	0.02%
LNC	B	0.03%	0.09%	0.03%
LNW	F	0.02%	0.2%	0.02%
LOPE	D	0.04%	0.05%	0.04%
LPX	C	0.08%	0.17%	0.08%
LSTR	F	0.09%	0.22%	0.09%
LUMN	C	0.05%	0.16%	0.05%
LXP	D	0.02%	0.07%	0.02%
M	D	0.02%	0.13%	0.02%
MAC	B	0.04%	0.08%	0.04%
MAN	D	0.03%	0.08%	0.03%
MASI	B	0.03%	0.05%	0.03%
MC	B	0.03%	0.02%	0.02%
MDU	C	0.03%	0.3%	0.03%
MHK	C	0.01%	0.08%	0.01%
MHO	C	0.05%	0.06%	0.05%
MKSI	F	0.01%	0.15%	0.01%
MLKN	F	0.01%	0.04%	0.01%
MMS	C	0.06%	0.05%	0.05%
MOG.A	C	0.04%	0.23%	0.04%
MORN	B	0.03%	0.18%	0.03%
MSA	F	0.03%	0.19%	0.03%
MTG	A	0.03%	0.25%	0.03%
MTH	C	0.07%	0.19%	0.07%
MTN	D	0.05%	0.22%	0.05%
MUR	F	0.01%	0.14%	0.01%
MUSA	D	0.15%	0.34%	0.15%
NFG	A	0.05%	0.21%	0.05%
NOV	F	0.01%	0.16%	0.01%
NSIT	B	0.07%	0.18%	0.07%
NWL	D	0.02%	0.08%	0.02%
NXST	D	0.05%	0.09%	0.05%
NYT	C	0.04%	0.19%	0.04%
OGN	F	0.05%	0.11%	0.05%
OHI	C	0.02%	0.2%	0.02%
OMF	D	0.02%	0.18%	0.02%
OMI	F	0.01%	0.05%	0.01%
ONB	D	0.01%	0.17%	0.01%
ORA	C	0.02%	0.11%	0.02%
OSK	F	0.03%	0.28%	0.03%
OUT	C	0.01%	0.08%	0.01%
PBF	F	0.02%	0.06%	0.02%
PDCO	F	0.02%	0.15%	0.02%
PECO	C	0.01%	0.07%	0.01%
PFSI	C	0.02%	0.12%	0.02%
PINC	F	0.02%	0.12%	0.02%
PK	D	0.06%	0.06%	0.06%
PLXS	A	0.03%	0.16%	0.03%
POST	C	0.05%	0.1%	0.05%
PRG	C	0.03%	0.06%	0.03%
PRIM	A	0.03%	0.11%	0.03%
PSMT	A	0.01%	0.05%	0.01%
PSN	A	0.02%	0.11%	0.02%
PTEN	F	0.01%	0.04%	0.01%
PVH	D	0.02%	0.16%	0.02%
R	C	0.07%	0.27%	0.07%
RDN	D	0.01%	0.09%	0.01%
REZI	D	0.01%	0.18%	0.01%
RGA	B	0.06%	0.3%	0.06%
RGLD	C	0.04%	0.32%	0.04%
RHI	D	0.02%	0.2%	0.02%
RKT	D	0.01%	0.06%	0.01%
RL	B	0.03%	0.09%	0.03%
RLI	A	0.03%	0.19%	0.03%
RRC	D	0.02%	0.24%	0.02%
RUSHA	D	0.03%	0.05%	0.03%
RYN	C	0.03%	0.05%	0.03%
SATS	C	0.02%	0.07%	0.02%
SBH	B	0.02%	0.05%	0.02%
SCI	D	0.06%	0.26%	0.06%
SCL	D	0.01%	0.11%	0.01%
SEE	C	0.06%	0.07%	0.06%
SEM	D	0.03%	0.07%	0.03%
SF	A	0.01%	0.15%	0.01%
SFM	A	0.2%	0.35%	0.2%
SHOO	A	0.03%	0.13%	0.03%
SIG	C	0.04%	0.11%	0.04%
SIGI	D	0.01%	0.28%	0.01%
SLG	C	0.08%	0.1%	0.08%
SLM	B	0.05%	0.16%	0.05%
SLVM	C	0.04%	0.05%	0.04%
SM	D	0.03%	0.05%	0.03%
SNDR	D	0.02%	0.18%	0.02%
SNV	D	0.01%	0.25%	0.01%
SON	D	0.04%	0.13%	0.04%
SPB	C	0.01%	0.08%	0.01%
SPR	D	0.01%	0.06%	0.01%
SR	D	0.01%	0.15%	0.01%
SSB	C	0.01%	0.25%	0.01%
STC	D	0.03%	0.09%	0.03%
SWX	C	0.01%	0.13%	0.01%
SXT	C	0.02%	0.08%	0.02%
TDC	D	0.02%	0.1%	0.02%
TDS	C	0.04%	0.07%	0.04%
TEX	F	0.05%	0.08%	0.05%
TGNA	B	0.04%	0.18%	0.04%
THC	D	0.29%	0.25%	0.25%
THG	A	0.04%	0.17%	0.04%
THO	C	0.07%	0.13%	0.07%
THS	D	0.03%	0.06%	0.03%
TMHC	C	0.09%	0.17%	0.09%
TNET	D	0.01%	0.08%	0.01%
TOL	C	0.06%	0.27%	0.06%
TPH	C	0.06%	0.15%	0.06%
TPR	B	0.01%	0.25%	0.01%
TPX	C	0.03%	0.15%	0.03%
TRN	C	0.04%	0.09%	0.04%
TTEK	A	0.02%	0.19%	0.02%
TXRH	A	0.06%	0.1%	0.06%
UGI	C	0.01%	0.27%	0.01%
UNM	A	0.04%	0.21%	0.04%
USFD	C	0.05%	0.49%	0.05%
VC	F	0.03%	0.1%	0.03%
VFC	A	0.02%	0.18%	0.02%
VNO	B	0.07%	0.08%	0.07%
VNT	F	0.01%	0.14%	0.01%
VSCO	C	0.02%	0.05%	0.02%
VVV	D	0.02%	0.18%	0.02%
WAL	C	0.02%	0.21%	0.02%
WBS	D	0.01%	0.22%	0.01%
WCC	D	0.07%	0.21%	0.07%
WEN	B	0.05%	0.09%	0.05%
WERN	D	0.02%	0.12%	0.02%
WGO	D	0.01%	0.12%	0.01%
WH	C	0.03%	0.13%	0.03%
WHR	C	0.03%	0.2%	0.03%
WMS	D	0.02%	0.27%	0.02%
WOLF	F	0.0%	0.03%	0.0%
WTFC	B	0.01%	0.06%	0.01%
WTM	C	0.04%	0.12%	0.04%
WU	D	0.07%	0.08%	0.07%
WWD	C	0.01%	0.2%	0.01%
X	F	0.03%	0.14%	0.03%
XHR	A	0.02%	0.08%	0.02%
XPO	F	0.03%	0.26%	0.03%
XRAY	D	0.03%	0.07%	0.03%
XRX	D	0.01%	0.05%	0.01%
YELP	D	0.02%	0.05%	0.02%
ZION	D	0.01%	0.17%	0.01%

MFUS Overweight 523 Positions Relative to ESML

Symbol	Grade	Weight
LLY	D	2.87%
META	A	2.37%
BRK.A	B	2.37%
AVGO	B	1.68%
WMT	A	1.68%
NVDA	B	1.64%
AMZN	C	1.6%
ABBV	C	1.56%
ORCL	A	1.38%
COST	C	1.36%
JNJ	D	1.28%
KO	C	1.16%
IBM	A	1.14%
VZ	C	1.11%
PG	D	1.04%
AMGN	D	1.01%
MRK	F	1.0%
AAPL	C	0.97%
JPM	C	0.88%
PM	D	0.83%
LMT	A	0.82%
QCOM	D	0.8%
UNH	B	0.79%
GILD	A	0.79%
TGT	C	0.77%
PEP	F	0.77%
T	B	0.74%
WFC	B	0.73%
CVS	D	0.71%
MO	D	0.66%
PFE	D	0.64%
C	B	0.63%
MMM	C	0.63%
GE	B	0.61%
CSCO	A	0.61%
HD	A	0.6%
PGR	B	0.6%
AMAT	C	0.59%
MCD	A	0.55%
UNP	F	0.54%
MCK	F	0.5%
REGN	D	0.49%
NFLX	A	0.46%
XOM	A	0.42%
CL	D	0.41%
BAC	B	0.39%
TJX	D	0.38%
TMUS	A	0.38%
EBAY	A	0.38%
NOC	B	0.38%
KR	C	0.37%
MPC	D	0.36%
CVX	B	0.36%
BMY	A	0.36%
BKNG	B	0.36%
GS	B	0.35%
LOW	C	0.34%
AIG	C	0.34%
TMO	D	0.33%
MET	A	0.32%
GM	D	0.32%
NOW	B	0.31%
TXN	C	0.3%
HCA	C	0.3%
ICE	A	0.3%
HPQ	B	0.29%
AZO	D	0.29%
DHR	D	0.28%
KLAC	B	0.28%
V	B	0.28%
MA	A	0.27%
SPGI	C	0.27%
ALL	A	0.26%
MDLZ	D	0.26%
WM	B	0.26%
CHTR	D	0.25%
UPS	D	0.25%
ADM	F	0.25%
NEE	C	0.25%
SYF	A	0.24%
GD	C	0.24%
COF	A	0.24%
CAH	B	0.24%
PRU	B	0.23%
RTX	A	0.23%
UBER	C	0.23%
AON	A	0.23%
BBY	C	0.23%
PSX	D	0.23%
LHX	A	0.23%
ISRG	C	0.23%
ACN	B	0.23%
NEM	C	0.22%
LII	C	0.22%
AFL	A	0.22%
PANW	B	0.22%
VRTX	D	0.22%
SHW	C	0.22%
VST	A	0.21%
FICO	C	0.21%
WSM	C	0.21%
AXP	A	0.21%
BSX	A	0.2%
WSO	C	0.2%
TRV	B	0.2%
ELV	F	0.2%
CAT	A	0.2%
GIS	C	0.2%
CMG	C	0.2%
CTAS	C	0.19%
LRCX	D	0.19%
MMC	D	0.19%
INTC	D	0.19%
GWW	B	0.19%
GLW	C	0.19%
ORLY	A	0.19%
LYB	B	0.18%
MS	A	0.18%
KMB	D	0.18%
UTHR	C	0.18%
MSI	A	0.18%
CB	A	0.17%
TDG	A	0.17%
RMD	C	0.17%
BK	A	0.17%
BLK	A	0.17%
VRSK	D	0.17%
DVA	C	0.17%
CMCSA	B	0.16%
VLO	F	0.16%
SPG	A	0.16%
BR	B	0.16%
EA	D	0.16%
KHC	F	0.16%
AMT	D	0.16%
TSN	D	0.16%
CI	D	0.15%
DECK	B	0.15%
HWM	A	0.15%
F	D	0.15%
K	B	0.15%
BAH	C	0.15%
MU	D	0.15%
AJG	C	0.14%
KKR	A	0.14%
CHRW	C	0.14%
CME	A	0.14%
DUK	C	0.14%
SMCI	F	0.14%
ANET	A	0.14%
IT	A	0.14%
PLTR	A	0.14%
CMI	A	0.13%
EXR	D	0.13%
EFX	D	0.13%
CEG	A	0.13%
SYY	D	0.13%
DPZ	D	0.13%
RSG	D	0.13%
VTRS	D	0.13%
PH	A	0.13%
SO	A	0.13%
JNPR	C	0.13%
TSCO	A	0.12%
XYL	C	0.12%
MCO	D	0.12%
YUM	C	0.12%
RPM	A	0.12%
BDX	C	0.12%
AMP	A	0.12%
CLX	C	0.12%
IRM	B	0.12%
PNC	C	0.11%
PHM	C	0.11%
DD	C	0.11%
CSX	D	0.11%
LDOS	A	0.11%
BX	C	0.11%
WBA	F	0.11%
FAST	C	0.11%
PWR	A	0.11%
PYPL	A	0.11%
APH	D	0.11%
BRO	A	0.11%
WELL	C	0.11%
MPWR	B	0.1%
AOS	C	0.1%
NVR	C	0.1%
MTD	C	0.1%
USB	C	0.1%
DG	F	0.1%
ITW	C	0.1%
WTW	C	0.1%
NTAP	D	0.1%
FOXA	B	0.1%
AVY	D	0.1%
HPE	B	0.1%
JKHY	A	0.1%
PSA	C	0.1%
ADP	A	0.1%
GDDY	B	0.1%
DGX	D	0.09%
AEP	C	0.09%
OKE	A	0.09%
DKS	D	0.09%
TRGP	A	0.09%
URI	C	0.09%
KMI	A	0.09%
HLT	A	0.09%
EXPD	D	0.09%
DASH	A	0.09%
SBUX	B	0.09%
OTIS	A	0.08%
EQH	B	0.08%
SRE	C	0.08%
BIIB	F	0.08%
TAP	D	0.08%
IP	C	0.08%
TFC	D	0.08%
TYL	D	0.08%
CCI	D	0.08%
AIZ	B	0.08%
CPRT	B	0.08%
BALL	C	0.08%
ADSK	B	0.08%
RCL	B	0.08%
STE	D	0.08%
GEHC	C	0.08%
IEX	D	0.08%
TROW	D	0.08%
DFS	A	0.08%
WDC	C	0.08%
DLR	C	0.08%
ARES	A	0.08%
IR	A	0.08%
WMB	A	0.08%
NUE	D	0.08%
KDP	C	0.08%
ECL	C	0.08%
NSC	C	0.07%
MLM	F	0.07%
COP	D	0.07%
BKR	B	0.07%
CHD	D	0.07%
TTC	F	0.07%
UFPI	C	0.07%
PKG	B	0.07%
ROL	C	0.07%
NKE	D	0.07%
MLI	B	0.07%
ALNY	C	0.07%
MNST	D	0.07%
GLPI	C	0.07%
FIS	A	0.07%
LEN	C	0.07%
EXC	C	0.07%
EMR	B	0.07%
NRG	A	0.07%
D	A	0.07%
POOL	D	0.07%
UHS	D	0.07%
DHI	C	0.07%
SEIC	B	0.07%
HLI	A	0.07%
CNC	F	0.06%
ZTS	C	0.06%
FFIV	B	0.06%
HSY	D	0.06%
STZ	D	0.06%
L	C	0.06%
COIN	F	0.06%
HIG	A	0.06%
FTNT	A	0.06%
ERIE	A	0.06%
ED	C	0.06%
IDXX	D	0.06%
JCI	C	0.06%
PEG	A	0.06%
OMC	C	0.06%
CPT	C	0.06%
MKC	C	0.06%
O	C	0.06%
MSCI	B	0.06%
TTWO	D	0.06%
CCK	C	0.06%
ROP	D	0.06%
MSM	D	0.06%
MAS	C	0.06%
NDSN	C	0.05%
CBRE	C	0.05%
NDAQ	C	0.05%
URBN	F	0.05%
PPG	D	0.05%
FANG	D	0.05%
CAG	D	0.05%
VLTO	A	0.05%
SLGN	B	0.05%
CPB	D	0.05%
G	A	0.05%
SQ	D	0.05%
SEB	F	0.05%
GNTX	D	0.05%
VIRT	B	0.05%
ANSS	D	0.05%
WAT	B	0.05%
BAX	D	0.05%
LPLA	D	0.05%
WAB	A	0.05%
ALLY	F	0.05%
BTU	B	0.05%
FCNCA	D	0.05%
APP	A	0.05%
A	B	0.05%
EIX	C	0.05%
SKYW	B	0.05%
CARR	A	0.05%
LAMR	C	0.05%
TW	A	0.05%
SUI	D	0.05%
LANC	F	0.04%
AVTR	D	0.04%
DBRG	D	0.04%
PAYX	B	0.04%
BHF	D	0.04%
IFF	D	0.04%
MANH	A	0.04%
PPL	C	0.04%
TER	C	0.04%
CDW	D	0.04%
ES	D	0.04%
EXEL	B	0.04%
NWSA	D	0.04%
ASO	D	0.04%
EQR	C	0.04%
ADBE	F	0.04%
CTVA	A	0.04%
FDS	C	0.04%
STLD	C	0.04%
NBIX	F	0.04%
PSTG	F	0.04%
PTC	B	0.04%
EME	B	0.04%
ELS	D	0.04%
HUBG	D	0.04%
AMH	D	0.04%
CPNG	C	0.04%
UHAL	C	0.04%
FITB	C	0.04%
INVH	D	0.04%
TKR	B	0.04%
MAR	A	0.04%
VRSN	C	0.04%
ULTA	D	0.04%
HEI	C	0.04%
CRBG	B	0.04%
SCHW	D	0.04%
SMG	C	0.04%
VTR	C	0.04%
CE	D	0.04%
RS	D	0.04%
ETR	A	0.04%
OLN	D	0.04%
EMN	C	0.04%
SRCL	B	0.04%
BLDR	C	0.04%
WST	D	0.04%
SJM	D	0.04%
IPG	D	0.04%
BKE	B	0.03%
NTRS	B	0.03%
NEU	F	0.03%
FHI	A	0.03%
DRH	B	0.03%
LW	D	0.03%
LZB	D	0.03%
UNF	A	0.03%
DELL	C	0.03%
ADNT	F	0.03%
MRO	B	0.03%
JBL	C	0.03%
FNF	C	0.03%
DLTR	F	0.03%
AKAM	D	0.03%
HBAN	B	0.03%
SBAC	C	0.03%
CPAY	A	0.03%
DDS	D	0.03%
OI	D	0.03%
DRI	C	0.03%
GMS	B	0.03%
APLE	B	0.03%
MATX	C	0.03%
BURL	C	0.03%
UDR	C	0.03%
WPC	C	0.03%
HOOD	B	0.03%
GNW	A	0.03%
HII	F	0.03%
MTB	A	0.03%
GGG	C	0.03%
AVB	C	0.03%
RPRX	D	0.03%
TFX	C	0.03%
HUBB	A	0.03%
CMS	A	0.03%
HOLX	D	0.03%
ACM	A	0.03%
HSIC	D	0.03%
AMKR	F	0.03%
CFG	C	0.03%
DOX	B	0.03%
GEO	D	0.03%
FE	C	0.03%
SANM	D	0.03%
KEX	C	0.02%
GES	F	0.02%
PHIN	D	0.02%
DAN	D	0.02%
KIM	C	0.02%
ALGN	D	0.02%
EVRG	C	0.02%
SSNC	C	0.02%
ATO	A	0.02%
BEN	F	0.02%
ODFL	F	0.02%
HP	D	0.02%
AES	C	0.02%
CSL	A	0.02%
JBLU	B	0.02%
ODP	F	0.02%
APOG	B	0.02%
VSH	F	0.02%
PNR	C	0.02%
CCL	C	0.02%
BXP	B	0.02%
DORM	C	0.02%
OSIS	C	0.02%
ZBRA	B	0.02%
SAM	D	0.02%
OC	C	0.02%
ESS	D	0.02%
HST	D	0.02%
NAVI	D	0.02%
DTE	B	0.02%
HRL	F	0.02%
MCY	B	0.02%
LNT	B	0.02%
DOV	C	0.02%
PMT	B	0.02%
CINF	A	0.02%
MAA	D	0.02%
NSP	F	0.02%
NI	A	0.02%
VSTO	B	0.02%
NTCT	C	0.02%
DOW	B	0.02%
RLJ	D	0.02%
GHC	A	0.02%
MKTX	B	0.02%
CXW	F	0.02%
SKX	B	0.02%
CTLT	A	0.02%
JBHT	D	0.02%
KEY	B	0.02%
PAG	D	0.02%
WRB	C	0.02%
PNM	B	0.02%
CG	B	0.02%
HUN	B	0.01%
KNX	D	0.01%
UHAL	C	0.01%
DINO	F	0.01%
PARA	F	0.01%
ARCH	D	0.01%
CACC	F	0.01%
KALU	D	0.01%
ACI	F	0.01%
QRVO	F	0.01%
GIII	C	0.01%
UVV	D	0.01%
ARI	F	0.01%
HTH	F	0.01%
IGT	F	0.01%
PB	D	0.01%
UAL	A	0.01%
CNXN	C	0.01%
ALEX	D	0.01%
FDP	C	0.01%
IMKTA	F	0.01%
CNS	C	0.01%
WOR	F	0.01%
SVC	D	0.01%
PNW	C	0.01%
PPC	C	0.01%
MOS	F	0.01%
WAFD	D	0.01%
SHO	B	0.01%
CENTA	F	0.01%
INCY	B	0.01%
PFG	A	0.01%
ESAB	C	0.01%
WMK	D	0.01%
STRA	F	0.01%
SAIC	A	0.01%
TTMI	D	0.01%
KN	B	0.01%
BBWI	F	0.01%
CVI	D	0.01%
LADR	D	0.01%
NNI	B	0.01%
GOLF	F	0.01%
NNN	C	0.01%
RBC	C	0.01%
SAH	D	0.01%
H	B	0.01%
SLB	D	0.01%
HE	F	0.01%
SCS	D	0.01%
LAUR	C	0.01%
RF	B	0.01%
BMRN	F	0.01%
SCCO	B	0.0%
NOMD	D	0.0%

MFUS Underweight 616 Positions Relative to ESML

Symbol	Grade	Weight
REXR	D	-0.39%
CVNA	A	-0.36%
OGS	C	-0.33%
NTNX	C	-0.33%
FRT	D	-0.32%
BMI	A	-0.31%
WEX	C	-0.3%
ONTO	B	-0.3%
PCVX	C	-0.27%
NTRA	A	-0.26%
RNR	A	-0.26%
PNFP	B	-0.25%
GBCI	B	-0.25%
WING	C	-0.25%
SWN	D	-0.24%
SAIA	D	-0.24%
UMBF	C	-0.24%
PRGS	A	-0.24%
FND	C	-0.24%
MWA	A	-0.23%
INSM	D	-0.23%
SUM	F	-0.23%
EGP	D	-0.23%
CUZ	C	-0.22%
PRI	A	-0.22%
NJR	C	-0.22%
CDP	A	-0.22%
HAS	A	-0.22%
ALK	C	-0.21%
NOVT	C	-0.21%
SRPT	F	-0.21%
AAON	A	-0.21%
WTS	C	-0.21%
ENSG	D	-0.21%
NVT	C	-0.2%
KNSL	B	-0.2%
FTDR	B	-0.2%
RHP	B	-0.2%
FBP	B	-0.2%
EPRT	C	-0.2%
FTAI	A	-0.2%
WSC	D	-0.2%
NCLH	C	-0.2%
HHH	C	-0.2%
EXLS	B	-0.2%
AFRM	C	-0.19%
ACHC	F	-0.19%
PCH	C	-0.19%
ZWS	A	-0.19%
CIEN	A	-0.18%
MOD	B	-0.18%
TKO	A	-0.18%
SPSC	D	-0.18%
DAR	F	-0.18%
SITE	D	-0.18%
BHLB	D	-0.18%
PLNT	B	-0.18%
SPXC	A	-0.18%
ITRI	C	-0.18%
FMC	C	-0.18%
FRPT	A	-0.18%
WK	D	-0.18%
ENLC	A	-0.18%
HRI	B	-0.18%
AXS	A	-0.18%
FN	B	-0.17%
CHX	C	-0.17%
VOYA	A	-0.17%
PR	D	-0.17%
PCTY	C	-0.17%
RGEN	F	-0.17%
LSCC	D	-0.17%
GKOS	B	-0.17%
ESTC	F	-0.16%
AM	A	-0.16%
RRX	B	-0.16%
UBSI	D	-0.16%
BRX	C	-0.16%
CZR	B	-0.16%
LAZ	C	-0.16%
FSS	D	-0.16%
AEIS	B	-0.16%
WFRD	F	-0.16%
DUOL	B	-0.16%
MTZ	A	-0.16%
PEN	D	-0.15%
HIW	C	-0.15%
BANR	B	-0.15%
GXO	D	-0.15%
JAZZ	F	-0.15%
MMSI	C	-0.15%
KNTK	A	-0.15%
DBX	C	-0.15%
MEDP	F	-0.15%
ASB	D	-0.15%
ACIW	A	-0.15%
FLS	A	-0.15%
LFUS	C	-0.15%
PCOR	D	-0.15%
ASGN	D	-0.15%
ALTR	B	-0.14%
AZEK	D	-0.14%
ITCI	D	-0.14%
BCPC	C	-0.14%
NPO	C	-0.14%
HQY	B	-0.14%
GTLB	D	-0.14%
LNTH	C	-0.14%
TNL	B	-0.14%
FIBK	C	-0.14%
SMAR	A	-0.14%
IRDM	C	-0.13%
AVAV	B	-0.13%
ELF	F	-0.13%
SOFI	C	-0.13%
ADT	D	-0.13%
BLKB	C	-0.13%
IBCP	D	-0.13%
YETI	C	-0.13%
KNF	B	-0.13%
GL	C	-0.13%
ITGR	B	-0.13%
ORI	A	-0.13%
OLLI	C	-0.13%
BOX	C	-0.13%
VECO	F	-0.13%
HESM	C	-0.13%
CPF	C	-0.13%
OPCH	F	-0.13%
CYTK	D	-0.13%
DFIN	B	-0.13%
VKTX	C	-0.13%
CPK	C	-0.13%
VLY	C	-0.13%
CHDN	C	-0.13%
KLIC	D	-0.13%
RYAN	A	-0.13%
MAT	B	-0.13%
FA	A	-0.12%
EPAC	A	-0.12%
SITC	D	-0.12%
IBP	C	-0.12%
RMBS	F	-0.12%
COLB	C	-0.12%
FIVE	D	-0.12%
VMI	B	-0.12%
CABO	F	-0.12%
APPF	C	-0.12%
TRNO	D	-0.12%
MTX	C	-0.12%
RDUS	D	-0.12%
CAVA	B	-0.12%
HASI	B	-0.12%
BECN	D	-0.12%
HALO	D	-0.12%
OZK	D	-0.12%
WDFC	B	-0.11%
GTLS	D	-0.11%
XENE	D	-0.11%
CFLT	F	-0.11%
U	D	-0.11%
STRL	B	-0.11%
MRCY	B	-0.11%
CGNX	F	-0.11%
WHD	A	-0.11%
SSD	B	-0.11%
DNLI	C	-0.11%
EAT	A	-0.11%
AIT	B	-0.11%
STWD	C	-0.11%
PATH	D	-0.11%
KRC	C	-0.11%
FUL	F	-0.11%
MYRG	D	-0.11%
BHVN	C	-0.11%
S	C	-0.11%
KOS	F	-0.11%
FULT	D	-0.11%
LRN	D	-0.11%
LCII	C	-0.11%
ETSY	F	-0.11%
CRDO	B	-0.1%
BWIN	A	-0.1%
ALKS	B	-0.1%
QTWO	B	-0.1%
NMIH	B	-0.1%
NXT	F	-0.1%
TENB	D	-0.1%
RXO	D	-0.1%
CRNX	C	-0.1%
OLED	B	-0.1%
AUB	D	-0.1%
AL	D	-0.1%
INSP	C	-0.1%
LBRDA	C	-0.1%
SJW	D	-0.1%
ABCB	C	-0.1%
EFSC	D	-0.1%
KAR	F	-0.1%
HCP	A	-0.1%
CCOI	B	-0.1%
SLAB	D	-0.1%
BRBR	A	-0.09%
LYFT	D	-0.09%
MGRC	D	-0.09%
ICFI	C	-0.09%
PJT	A	-0.09%
ESE	C	-0.09%
UNIT	B	-0.09%
LNN	C	-0.09%
BXMT	C	-0.09%
AUR	C	-0.09%
KFY	C	-0.09%
CRVL	C	-0.09%
CAC	C	-0.09%
RUN	D	-0.09%
HR	D	-0.09%
ATKR	F	-0.09%
PEGA	B	-0.09%
DV	F	-0.09%
TMDX	D	-0.09%
LCID	F	-0.09%
ZI	F	-0.09%
ERII	C	-0.09%
ST	F	-0.09%
BILL	D	-0.09%
CRC	B	-0.09%
PI	A	-0.09%
RDNT	C	-0.09%
AMAL	B	-0.09%
CVBF	B	-0.09%
BPMC	F	-0.08%
TBBK	A	-0.08%
ROG	D	-0.08%
RNA	B	-0.08%
PLUS	B	-0.08%
AZZ	B	-0.08%
NWN	D	-0.08%
ALG	F	-0.08%
CHWY	C	-0.08%
EVRI	A	-0.08%
CLVT	D	-0.08%
AMN	F	-0.08%
RNST	D	-0.08%
CNK	D	-0.08%
SHAK	A	-0.08%
RVMD	B	-0.08%
KOP	F	-0.08%
BOOT	B	-0.08%
RARE	D	-0.08%
SBRA	C	-0.08%
ENOV	F	-0.08%
CRSP	F	-0.08%
IMAX	D	-0.08%
PRCT	D	-0.08%
PLMR	A	-0.08%
MARA	F	-0.08%
LITE	A	-0.08%
W	C	-0.08%
MTSI	B	-0.08%
SNX	C	-0.08%
HWC	D	-0.08%
BPOP	D	-0.08%
AZTA	F	-0.08%
ENR	B	-0.07%
UPBD	F	-0.07%
ENV	C	-0.07%
ACVA	C	-0.07%
VITL	C	-0.07%
PNTG	C	-0.07%
VCTR	A	-0.07%
HLIT	D	-0.07%
EXPO	A	-0.07%
COLM	B	-0.07%
VVX	A	-0.07%
AAT	C	-0.07%
PHAT	C	-0.07%
XPRO	F	-0.07%
TREX	D	-0.07%
CTS	B	-0.07%
SASR	B	-0.07%
VRRM	D	-0.07%
PEB	D	-0.07%
PLYA	D	-0.07%
VAC	D	-0.07%
PRGO	F	-0.07%
PRVA	F	-0.07%
INTA	C	-0.07%
RH	C	-0.07%
INDB	D	-0.07%
PDM	C	-0.07%
BL	D	-0.07%
CWK	D	-0.07%
BOH	D	-0.07%
WD	C	-0.07%
VRDN	B	-0.07%
NTGR	C	-0.07%
POWL	B	-0.07%
MPW	C	-0.07%
KREF	C	-0.07%
JBT	B	-0.07%
VRNS	B	-0.07%
ACLX	C	-0.07%
AVNT	C	-0.07%
DRS	A	-0.07%
CCCS	D	-0.07%
PIPR	A	-0.07%
DOCS	A	-0.07%
KTOS	B	-0.07%
HWKN	B	-0.07%
DEA	D	-0.07%
ESRT	C	-0.07%
CALX	C	-0.07%
CCS	C	-0.07%
ZD	D	-0.07%
PRKS	C	-0.07%
MTRN	F	-0.06%
HURN	D	-0.06%
HZO	C	-0.06%
IBOC	D	-0.06%
TALO	D	-0.06%
CIVI	F	-0.06%
FROG	F	-0.06%
GH	F	-0.06%
DCO	B	-0.06%
NARI	F	-0.06%
HI	F	-0.06%
PPBI	D	-0.06%
CMCO	D	-0.06%
TDOC	D	-0.06%
BYD	B	-0.06%
HELE	D	-0.06%
APGE	C	-0.06%
PDFS	F	-0.06%
CBU	D	-0.06%
MOV	F	-0.06%
PTGX	C	-0.06%
MNKD	B	-0.06%
CLB	D	-0.06%
MEI	D	-0.06%
VSEC	D	-0.06%
CART	B	-0.06%
HL	C	-0.06%
TWST	D	-0.06%
WRBY	B	-0.06%
FOUR	A	-0.06%
OSCR	C	-0.06%
FUN	F	-0.06%
KROS	C	-0.06%
ROCK	D	-0.06%
PAR	D	-0.06%
KYMR	D	-0.06%
MYGN	D	-0.06%
WKC	A	-0.06%
TILE	C	-0.06%
OII	D	-0.06%
UFPT	D	-0.06%
MXL	D	-0.06%
AVPT	A	-0.06%
IESC	A	-0.06%
ADUS	D	-0.06%
KE	F	-0.06%
SQSP	A	-0.06%
ALTM	D	-0.06%
GERN	D	-0.06%
PAHC	C	-0.06%
NVST	D	-0.06%
POWI	F	-0.06%
FFIN	D	-0.06%
SG	C	-0.06%
ATRC	C	-0.06%
TARS	C	-0.06%
UEC	C	-0.06%
CDE	C	-0.06%
VRNT	F	-0.06%
EPR	C	-0.06%
UNFI	C	-0.06%
ADMA	A	-0.06%
HIMS	C	-0.06%
HGV	F	-0.06%
BANC	D	-0.06%
RCM	B	-0.06%
ROIV	D	-0.06%
BDN	B	-0.06%
CMP	D	-0.06%
COMP	C	-0.06%
CLNE	C	-0.06%
TROX	D	-0.06%
RKLB	B	-0.06%
MRUS	D	-0.06%
GTES	C	-0.06%
TNC	F	-0.06%
SMTC	C	-0.06%
SKT	A	-0.06%
EYE	F	-0.06%
SONO	F	-0.06%
EWTX	B	-0.06%
ALHC	C	-0.06%
NEP	D	-0.06%
NUVL	B	-0.06%
HAIN	C	-0.06%
MIR	B	-0.06%
LEVI	C	-0.06%
TNDM	D	-0.06%
MODG	F	-0.06%
IDYA	F	-0.06%
FLGT	F	-0.05%
MQ	F	-0.05%
TGTX	D	-0.05%
CUBI	F	-0.05%
SVRA	F	-0.05%
TGI	F	-0.05%
FORM	D	-0.05%
BBIO	F	-0.05%
SLNO	B	-0.05%
SNDX	F	-0.05%
HPP	F	-0.05%
CPRX	C	-0.05%
GPRE	F	-0.05%
IRON	C	-0.05%
PENN	D	-0.05%
PLUG	D	-0.05%
KRYS	D	-0.05%
AHH	F	-0.05%
CAR	D	-0.05%
KURA	F	-0.05%
REVG	D	-0.05%
ARVN	F	-0.05%
AXL	F	-0.05%
JAMF	F	-0.05%
ASTE	F	-0.05%
COUR	F	-0.05%
LGF.A	F	-0.05%
PBI	C	-0.05%
SIBN	F	-0.05%
CWT	D	-0.05%
CGEM	F	-0.05%
BKD	F	-0.05%
PGNY	F	-0.05%
FFBC	D	-0.05%
ARLO	F	-0.05%
MGNI	D	-0.05%
RAMP	F	-0.05%
RBBN	C	-0.05%
ZUO	F	-0.05%
INVX	F	-0.05%
RNG	F	-0.05%
QS	F	-0.05%
AI	D	-0.05%
NBHC	D	-0.05%
DLX	F	-0.05%
ALKT	D	-0.05%
TXG	F	-0.05%
PRO	F	-0.05%
AMBC	F	-0.05%
KLG	F	-0.05%
RXRX	F	-0.05%
ZEUS	F	-0.05%
HLX	C	-0.05%
CCRN	F	-0.05%
ASH	F	-0.05%
PAYO	A	-0.05%
BEAM	F	-0.05%
AVDX	F	-0.05%
CBZ	F	-0.05%
ACEL	C	-0.05%
XPEL	D	-0.05%
VYX	C	-0.05%
ARCB	F	-0.05%
BGC	B	-0.05%
FOXF	F	-0.05%
MRC	D	-0.05%
FLYW	F	-0.05%
SGH	D	-0.05%
PRTA	F	-0.05%
ARCT	D	-0.05%
NEO	F	-0.05%
FTRE	F	-0.05%
ETWO	F	-0.05%
OMCL	C	-0.05%
AWR	B	-0.05%
WNC	F	-0.05%
VERX	B	-0.05%
MLTX	C	-0.05%
PLAY	D	-0.05%
JANX	C	-0.05%
CWAN	B	-0.05%
CSTL	B	-0.05%
ICHR	D	-0.05%
PETQ	A	-0.05%
SMPL	D	-0.05%
HOUS	D	-0.05%
VRTS	D	-0.05%
MTTR	B	-0.05%
EDR	A	-0.05%
INFA	D	-0.05%
UAA	B	-0.05%
PYCR	D	-0.05%
HAYW	C	-0.05%
BROS	F	-0.05%
GO	F	-0.05%
WT	D	-0.05%
KELYA	D	-0.05%
ATEN	B	-0.05%
MNRO	B	-0.05%
QDEL	D	-0.05%
EMBC	F	-0.05%
DYN	D	-0.05%
SFBS	B	-0.05%
HAFC	D	-0.05%
NRIX	D	-0.05%
ARWR	F	-0.05%
SAVA	D	-0.05%
IVR	C	-0.05%
VVI	B	-0.05%
AGIO	D	-0.05%
PGRE	D	-0.05%
MLNK	F	-0.05%
CRAI	B	-0.05%
NABL	F	-0.05%
CLDX	F	-0.05%
ELVN	A	-0.05%
CHH	A	-0.05%
CAKE	A	-0.05%
ARQT	D	-0.05%
AGYS	D	-0.05%
OWL	A	-0.05%
PTCT	C	-0.05%
CNMD	F	-0.05%
NOVA	F	-0.05%
SMP	D	-0.05%
GRBK	C	-0.05%
RXST	F	-0.05%
SKY	C	-0.05%
BNL	C	-0.05%
COGT	B	-0.05%
THRM	F	-0.05%
IONS	F	-0.05%
VREX	F	-0.05%
AORT	B	-0.05%
PRAA	F	-0.05%
EE	B	-0.05%
AGO	B	-0.05%
MMI	D	-0.05%
PD	F	-0.05%
NYCB	D	-0.05%
NBTB	D	-0.05%
KVYO	B	-0.05%
NEOG	F	-0.05%
RUSHB	D	-0.05%
EWCZ	F	-0.05%
ARKO	C	-0.05%
PLOW	D	-0.05%
DOCN	B	-0.05%
SHC	C	-0.05%
INFN	C	-0.05%
MBUU	D	-0.05%
LIVN	C	-0.05%
AXSM	D	-0.05%
FIVN	F	-0.05%
VERA	C	-0.05%
CECO	D	-0.05%
VNOM	A	-0.05%
VBTX	C	-0.05%
ZYME	B	-0.05%
VSTS	D	-0.05%
NTLA	F	-0.05%
UPST	C	-0.05%
CRMT	F	-0.04%
APLS	F	-0.04%
BRY	F	-0.04%
FNA	F	-0.04%
AGL	F	-0.04%
PLRX	F	-0.04%
SEDG	F	-0.04%
MDGL	F	-0.04%
BASE	F	-0.04%
MEG	F	-0.04%
CNXC	F	-0.04%
ETNB	F	-0.04%
CXM	F	-0.04%
RCUS	D	-0.04%
BRZE	F	-0.04%
NUVB	F	-0.04%
IART	F	-0.04%
SPT	F	-0.04%
SWTX	F	-0.04%
CLSK	F	-0.04%
ASAN	F	-0.04%
EGY	D	-0.04%
CAL	F	-0.04%
GOGO	F	-0.04%
ASPN	C	-0.04%
NVCR	F	-0.04%
MTUS	F	-0.04%
CLW	F	-0.04%
IMVT	D	-0.04%
ANAB	D	-0.04%
NCNO	F	-0.04%
BE	F	-0.04%
LBPH	D	-0.04%
RCKT	F	-0.04%
LESL	F	-0.04%
AMC	F	-0.04%
FRSH	F	-0.04%
DGII	B	-0.04%
ALRM	F	-0.04%
ALEC	F	-0.04%
TMCI	F	-0.04%
PFS	D	-0.04%
CDNA	B	-0.04%
NVAX	C	-0.04%
STAA	D	-0.04%
ESTA	D	-0.04%
VSAT	F	-0.03%
GDOT	C	-0.01%