RFLR vs. FESM ETF Comparison

Comparison of Innovator U.S. Small Cap Power Buffer ETF - September Innovator U.S. Small Cap Managed Floor ETF (RFLR) to Fidelity Enhanced Small Cap ETF (FESM)

RFLR

Innovator U.S. Small Cap Power Buffer ETF - September Innovator U.S. Small Cap Managed Floor ETF

RFLR Description

The fund will invest at least 80% of its net assets (including borrowings for investment purposes) in equity securities of U.S. small capitalization companies and option contracts that give economic exposure to equity securities of U.S. small capitalization companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.38

Average Daily Volume

5,752

Number of Holdings ^*

1097

* 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

$33.98

Average Daily Volume

115,795

Number of Holdings ^*

562

* may have additional holdings in another (foreign) market

Performance

Period	RFLR	FESM
30 Days	1.54%	3.38%
60 Days	3.71%	5.43%
90 Days		8.64%
12 Months		35.92%

346 Overlapping Holdings

Symbol	Grade	Weight in RFLR	Weight in FESM	Overlap
ABCB	B	0.18%	0.36%	0.18%
ABM	B	0.13%	0.32%	0.13%
ABSI	F	0.02%	0.05%	0.02%
ACA	A	0.19%	0.37%	0.19%
ACAD	C	0.11%	0.11%	0.11%
ACIW	B	0.15%	0.05%	0.05%
ACLX	C	0.17%	0.03%	0.03%
ADMA	C	0.01%	0.11%	0.01%
ADUS	D	0.11%	0.1%	0.1%
AEO	F	0.08%	0.5%	0.08%
AGIO	C	0.09%	0.14%	0.09%
AGS	A	0.03%	0.09%	0.03%
AIR	B	0.12%	0.49%	0.12%
AKBA	C	0.02%	0.08%	0.02%
AKRO	C	0.1%	0.06%	0.06%
ALE	A	0.2%	0.1%	0.1%
ALRM	C	0.09%	0.16%	0.09%
ALTR	B	0.23%	0.1%	0.1%
ALX	D	0.04%	0.04%	0.04%
AMBA	B	0.11%	0.09%	0.09%
AMPH	F	0.07%	0.1%	0.07%
AMRX	C	0.05%	0.12%	0.05%
AMSC	C	0.07%	0.12%	0.07%
ANGO	C	0.03%	0.02%	0.02%
ANIP	D	0.05%	0.08%	0.05%
AORT	B	0.05%	0.22%	0.05%
AOSL	C	0.03%	0.04%	0.03%
APOG	B	0.04%	0.38%	0.04%
APPN	C	0.08%	0.06%	0.06%
ARAY	D	0.02%	0.08%	0.02%
ARLO	C	0.05%	0.17%	0.05%
AROC	A	0.09%	0.39%	0.09%
ARRY	F	0.03%	0.03%	0.03%
ARVN	F	0.09%	0.06%	0.06%
ARWR	D	0.14%	0.05%	0.05%
ATRC	C	0.1%	0.13%	0.1%
AUB	B	0.14%	0.1%	0.1%
AUR	C	0.2%	0.09%	0.09%
AVD	C	0.04%	0.06%	0.04%
AVNS	F	0.04%	0.18%	0.04%
AWR	A	0.13%	0.3%	0.13%
AX	B	0.2%	0.29%	0.2%
AXGN	D	0.05%	0.21%	0.05%
AXNX	A	0.15%	0.03%	0.03%
AXSM	B	0.16%	0.07%	0.07%
BAND	D	0.03%	0.36%	0.03%
BANF	B	0.12%	0.43%	0.12%
BASE	C	0.03%	0.04%	0.03%
BCC	C	0.15%	0.16%	0.15%
BCO	F	0.04%	0.24%	0.04%
BCPC	B	0.22%	0.09%	0.09%
BCRX	D	0.08%	0.1%	0.08%
BDC	B	0.23%	0.29%	0.23%
BECN	B	0.22%	0.03%	0.03%
BGC	C	0.17%	0.66%	0.17%
BGS	F	0.04%	0.06%	0.04%
BHE	B	0.11%	0.41%	0.11%
BKD	F	0.06%	0.06%	0.06%
BL	C	0.13%	0.2%	0.13%
BLKB	B	0.15%	0.07%	0.07%
BMI	C	0.1%	0.4%	0.1%
BOH	B	0.13%	0.16%	0.13%
BOOT	D	0.2%	0.05%	0.05%
BRSP	C	0.04%	0.04%	0.04%
BSIG	A	0.05%	0.07%	0.05%
BVS	C	0.02%	0.18%	0.02%
CALM	A	0.12%	0.22%	0.12%
CATY	B	0.02%	0.08%	0.02%
CCBG	B	0.05%	0.01%	0.01%
CDE	C	0.06%	0.07%	0.06%
CDP	C	0.14%	0.25%	0.14%
CDXS	B	0.03%	0.06%	0.03%
CECO	C	0.06%	0.35%	0.06%
CEIX	A	0.23%	0.25%	0.23%
CHGG	F	0.02%	0.03%	0.02%
CMPR	F	0.09%	0.39%	0.09%
CNK	A	0.13%	0.14%	0.13%
CNO	B	0.18%	0.27%	0.18%
CNXN	D	0.04%	0.18%	0.04%
COGT	D	0.05%	0.05%	0.05%
COMM	D	0.06%	0.22%	0.06%
CORT	C	0.21%	0.23%	0.21%
COUR	F	0.07%	0.04%	0.04%
CPRX	C	0.1%	0.14%	0.1%
CPS	C	0.03%	0.15%	0.03%
CRAI	B	0.05%	0.22%	0.05%
CRBU	D	0.03%	0.02%	0.02%
CRC	A	0.28%	0.22%	0.22%
CRGY	A	0.06%	0.58%	0.06%
CRNX	C	0.17%	0.13%	0.13%
CRVL	A	0.13%	0.04%	0.04%
CSGS	B	0.03%	0.59%	0.03%
CSR	A	0.04%	0.03%	0.03%
CSWI	A	0.32%	0.17%	0.17%
CTBI	B	0.07%	0.07%	0.07%
CTKB	C	0.04%	0.07%	0.04%
CTRE	C	0.21%	0.2%	0.2%
CVBF	B	0.14%	0.05%	0.05%
CWT	C	0.11%	0.2%	0.11%
CXM	C	0.05%	0.04%	0.04%
DAKT	B	0.03%	0.05%	0.03%
DCO	B	0.04%	0.17%	0.04%
DIOD	F	0.13%	0.1%	0.1%
DNLI	C	0.21%	0.07%	0.07%
DSGN	C	0.02%	0.05%	0.02%
DVAX	C	0.08%	0.02%	0.02%
DY	C	0.22%	0.15%	0.15%
EAT	A	0.19%	0.11%	0.11%
EBS	C	0.03%	0.09%	0.03%
EDIT	F	0.03%	0.03%	0.03%
EE	A	0.04%	0.05%	0.04%
EGHT	C	0.03%	0.29%	0.03%
ENS	D	0.18%	0.61%	0.18%
ENTA	F	0.02%	0.03%	0.02%
EOLS	F	0.06%	0.06%	0.06%
EPAC	B	0.13%	0.23%	0.13%
EQC	A	0.1%	0.31%	0.1%
ESRT	C	0.1%	0.34%	0.1%
ETD	D	0.04%	0.14%	0.04%
ETNB	D	0.06%	0.05%	0.05%
EWTX	C	0.1%	0.16%	0.1%
EZPW	A	0.04%	0.23%	0.04%
FBP	B	0.29%	0.28%	0.28%
FDP	B	0.05%	0.08%	0.05%
FFBC	B	0.09%	0.1%	0.09%
FHI	B	0.14%	0.5%	0.14%
FIZZ	C	0.04%	0.03%	0.03%
FLNC	C	0.06%	0.17%	0.06%
FLYW	B	0.04%	0.05%	0.04%
FNKO	D	0.02%	0.03%	0.02%
FOLD	F	0.13%	0.14%	0.13%
FORM	F	0.08%	0.12%	0.08%
FSS	B	0.13%	0.08%	0.08%
FTDR	B	0.17%	0.08%	0.08%
FUL	F	0.14%	0.52%	0.14%
FULT	B	0.15%	0.19%	0.15%
GATX	B	0.13%	0.01%	0.01%
GCI	D	0.02%	0.03%	0.02%
GEO	A	0.14%	0.22%	0.14%
GERN	F	0.12%	0.04%	0.04%
GHC	B	0.09%	0.14%	0.09%
GIII	D	0.07%	0.03%	0.03%
GNW	A	0.07%	0.33%	0.07%
GT	C	0.11%	0.39%	0.11%
HAE	C	0.21%	0.14%	0.14%
HBI	B	0.07%	0.07%	0.07%
HCI	C	0.03%	0.11%	0.03%
HIMS	C	0.15%	0.03%	0.03%
HL	C	0.18%	0.19%	0.18%
HLIT	D	0.05%	0.09%	0.05%
HNI	B	0.09%	0.2%	0.09%
HNST	A	0.02%	0.03%	0.02%
HROW	D	0.09%	0.03%	0.03%
HRTX	F	0.01%	0.04%	0.01%
HSTM	A	0.08%	0.2%	0.08%
HUMA	F	0.03%	0.03%	0.03%
HURN	B	0.11%	0.21%	0.11%
HWC	B	0.2%	0.22%	0.2%
HWKN	B	0.05%	0.53%	0.05%
HY	D	0.03%	0.18%	0.03%
IART	C	0.11%	0.06%	0.06%
ICFI	F	0.1%	0.04%	0.04%
IDT	B	0.05%	0.03%	0.03%
IMVT	F	0.1%	0.01%	0.01%
INDB	B	0.13%	0.1%	0.1%
INO	F	0.02%	0.01%	0.01%
INTA	B	0.15%	0.17%	0.15%
IOVA	F	0.13%	0.04%	0.04%
IRWD	F	0.03%	0.07%	0.03%
ITRI	B	0.15%	0.47%	0.15%
JAMF	F	0.04%	0.07%	0.04%
JXN	C	0.34%	0.64%	0.34%
KALV	F	0.02%	0.04%	0.02%
KAR	A	0.1%	0.31%	0.1%
KE	C	0.04%	0.07%	0.04%
KNF	B	0.23%	0.13%	0.13%
KREF	D	0.04%	0.12%	0.04%
KRYS	C	0.16%	0.11%	0.11%
KTB	A	0.13%	0.08%	0.08%
KTOS	C	0.09%	0.31%	0.09%
KYMR	C	0.06%	0.03%	0.03%
LADR	B	0.06%	0.1%	0.06%
LGF.A	F	0.03%	0.07%	0.03%
LGF.A	F	0.06%	0.05%	0.05%
LGF.A	F	0.06%	0.07%	0.06%
LGF.A	F	0.03%	0.05%	0.03%
LGND	C	0.09%	0.09%	0.09%
LKFN	B	0.1%	0.52%	0.1%
LMB	A	0.05%	0.17%	0.05%
LMND	A	0.1%	0.51%	0.1%
LUNR	B	0.02%	0.07%	0.02%
LYTS	A	0.03%	0.11%	0.03%
MAC	A	0.19%	0.22%	0.19%
MATX	B	0.3%	0.32%	0.3%
MBWM	B	0.06%	0.03%	0.03%
MCB	B	0.02%	0.02%	0.02%
MCY	B	0.09%	0.03%	0.03%
MDGL	C	0.25%	0.15%	0.15%
MDXG	A	0.04%	0.02%	0.02%
MGNX	D	0.02%	0.04%	0.02%
MHO	D	0.22%	0.59%	0.22%
MLNK	C	0.04%	0.05%	0.04%
MOG.A	B	0.16%	0.25%	0.16%
MQ	F	0.06%	0.02%	0.02%
MRC	B	0.04%	0.08%	0.04%
MRSN	C	0.02%	0.02%	0.02%
MRTN	C	0.1%	0.23%	0.1%
MSBI	B	0.06%	0.04%	0.04%
MTRN	C	0.1%	0.08%	0.08%
MTX	C	0.12%	0.56%	0.12%
MWA	B	0.11%	0.6%	0.11%
MXL	C	0.03%	0.48%	0.03%
NABL	F	0.04%	0.06%	0.04%
NARI	C	0.07%	0.03%	0.03%
NBR	D	0.03%	0.24%	0.03%
NBTB	B	0.12%	0.07%	0.07%
NKTR	F	0.02%	0.02%	0.02%
NMIH	D	0.16%	0.33%	0.16%
NPAB	F	0.09%	0.04%	0.04%
NPK	C	0.05%	0.03%	0.03%
NRIX	C	0.03%	0.14%	0.03%
NSSC	F	0.08%	0.04%	0.04%
NXRT	A	0.06%	0.04%	0.04%
ODP	F	0.06%	0.09%	0.06%
OFG	B	0.18%	0.15%	0.15%
ONTF	C	0.04%	0.02%	0.02%
OPY	B	0.06%	0.05%	0.05%
OTTR	C	0.15%	0.11%	0.11%
OUT	A	0.13%	0.53%	0.13%
PACB	D	0.03%	0.08%	0.03%
PAYO	A	0.12%	0.65%	0.12%
PBH	A	0.16%	0.21%	0.16%
PBI	B	0.07%	0.19%	0.07%
PCRX	C	0.04%	0.08%	0.04%
PD	C	0.08%	0.18%	0.08%
PDCO	F	0.09%	0.02%	0.02%
PDFS	D	0.03%	0.24%	0.03%
PECO	A	0.23%	0.34%	0.23%
PFS	B	0.13%	0.31%	0.13%
PGEN	F	0.02%	0.02%	0.02%
PJT	B	0.17%	0.18%	0.17%
PL	A	0.03%	0.07%	0.03%
PLAB	D	0.08%	0.22%	0.08%
PLXS	B	0.17%	0.23%	0.17%
PRGS	B	0.12%	0.26%	0.12%
PRK	B	0.14%	0.17%	0.14%
PRLB	C	0.05%	0.08%	0.05%
PRO	C	0.04%	0.18%	0.04%
PTCT	C	0.15%	0.17%	0.15%
PTGX	D	0.13%	0.08%	0.08%
QTWO	B	0.22%	0.8%	0.22%
RAMP	C	0.08%	0.02%	0.02%
REPL	C	0.02%	0.07%	0.02%
REZI	A	0.16%	0.46%	0.16%
RM	D	0.04%	0.06%	0.04%
RNA	C	0.14%	0.21%	0.14%
RNST	B	0.09%	0.22%	0.09%
RUSHA	B	0.17%	0.08%	0.08%
RVNC	F	0.04%	0.06%	0.04%
RXO	C	0.15%	0.06%	0.06%
RXRX	D	0.08%	0.09%	0.08%
RYTM	C	0.17%	0.16%	0.16%
SAGE	F	0.03%	0.05%	0.03%
SAH	B	0.04%	0.15%	0.04%
SANA	F	0.03%	0.03%	0.03%
SANM	B	0.19%	0.39%	0.19%
SBH	B	0.1%	0.18%	0.1%
SCS	B	0.05%	0.08%	0.05%
SEM	B	0.2%	0.07%	0.07%
SFBS	B	0.22%	0.18%	0.18%
SFL	D	0.17%	0.02%	0.02%
SHAK	C	0.19%	0.23%	0.19%
SJW	F	0.05%	0.21%	0.05%
SKT	A	0.2%	0.11%	0.11%
SKYW	B	0.17%	0.69%	0.17%
SLG	B	0.24%	0.13%	0.13%
SLVM	C	0.16%	0.18%	0.16%
SMTC	C	0.14%	0.19%	0.14%
SNDX	F	0.13%	0.06%	0.06%
SNEX	B	0.1%	0.25%	0.1%
SPCE	D	0.02%	0.01%	0.01%
SPNS	F	0.05%	0.02%	0.02%
SPOK	B	0.02%	0.02%	0.02%
SPT	C	0.09%	0.08%	0.08%
SRRK	B	0.07%	0.13%	0.07%
STBA	B	0.07%	0.03%	0.03%
STEP	B	0.14%	0.32%	0.14%
STRO	D	0.02%	0.05%	0.02%
SUPN	B	0.09%	0.02%	0.02%
SXC	A	0.06%	0.28%	0.06%
SXT	C	0.13%	0.32%	0.13%
TCBK	B	0.07%	0.02%	0.02%
TCMD	B	0.06%	0.08%	0.06%
TDOC	D	0.1%	0.08%	0.08%
TDS	B	0.13%	0.17%	0.13%
TEX	D	0.17%	0.34%	0.17%
TGTX	B	0.14%	0.09%	0.09%
THR	B	0.08%	0.07%	0.07%
TILE	B	0.05%	0.22%	0.05%
TMCI	C	0.06%	0.05%	0.05%
TNYA	C	0.02%	0.02%	0.02%
TPH	D	0.17%	0.34%	0.17%
TREE	F	0.04%	0.06%	0.04%
TRN	A	0.1%	0.26%	0.1%
TRTX	B	0.03%	0.15%	0.03%
TRUP	B	0.08%	0.12%	0.08%
TSE	F	0.02%	0.02%	0.02%
TSHA	D	0.01%	0.06%	0.01%
TSVT	F	0.02%	0.04%	0.02%
TVTX	C	0.06%	0.16%	0.06%
TWST	F	0.1%	0.14%	0.1%
UCB	A	0.16%	0.14%	0.14%
UCTT	F	0.06%	0.37%	0.06%
UEC	A	0.14%	0.06%	0.06%
UMBF	B	0.21%	0.34%	0.21%
UNIT	B	0.07%	0.11%	0.07%
URGN	F	0.02%	0.01%	0.01%
USLM	A	0.06%	0.03%	0.03%
UVE	A	0.03%	0.04%	0.03%
VCEL	A	0.12%	0.03%	0.03%
VCYT	B	0.14%	0.15%	0.14%
VERA	C	0.08%	0.02%	0.02%
VICR	C	0.05%	0.35%	0.05%
VMEO	C	0.07%	0.51%	0.07%
VNDA	C	0.03%	0.05%	0.03%
VRE	A	0.04%	0.18%	0.04%
VREX	C	0.07%	0.29%	0.07%
VSCO	A	0.1%	0.03%	0.03%
VTOL	B	0.03%	0.1%	0.03%
WABC	B	0.07%	0.21%	0.07%
WEAV	B	0.03%	0.07%	0.03%
WK	C	0.2%	0.28%	0.2%
WMK	B	0.04%	0.07%	0.04%
WS	B	0.06%	0.13%	0.06%
WSBC	B	0.15%	0.15%	0.15%
WT	A	0.05%	0.51%	0.05%
XBIT	F	0.02%	0.01%	0.01%
XNCR	B	0.03%	0.02%	0.02%
XRX	F	0.06%	0.18%	0.06%
YELP	C	0.07%	0.58%	0.07%
YEXT	B	0.03%	0.28%	0.03%
YMAB	F	0.02%	0.03%	0.02%
YOU	D	0.15%	0.32%	0.15%
ZIP	D	0.03%	0.05%	0.03%
ZNTL	D	0.03%	0.04%	0.03%
ZUO	B	0.04%	0.2%	0.04%

RFLR Overweight 753 Positions Relative to FESM

Symbol	Grade	Weight
MC	B	0.33%
GPI	B	0.32%
EPRT	A	0.31%
PIPR	B	0.3%
KFY	B	0.3%
CNX	A	0.29%
CBT	C	0.29%
OLLI	D	0.28%
KAI	B	0.28%
HLNE	A	0.28%
FOUR	A	0.27%
ITGR	B	0.27%
APPF	C	0.26%
AVAV	C	0.26%
HRI	C	0.26%
AWI	B	0.25%
NVST	C	0.24%
RDN	D	0.24%
TPG	A	0.24%
STRL	A	0.24%
COLB	B	0.24%
RDNT	B	0.24%
BOX	B	0.23%
COOP	B	0.23%
KD	A	0.23%
AVNT	B	0.23%
QXO	C	0.23%
IESC	A	0.22%
SR	A	0.22%
GMS	B	0.22%
AEIS	B	0.22%
MARA	C	0.22%
ICUI	D	0.21%
ASB	B	0.21%
OGS	A	0.21%
LOPE	B	0.2%
BKH	A	0.2%
LXP	D	0.2%
HCP	B	0.2%
CCOI	B	0.19%
GVA	A	0.19%
GTES	A	0.19%
AVT	C	0.19%
FHB	B	0.19%
LEVI	F	0.19%
BFH	B	0.19%
UPST	B	0.18%
AGO	A	0.18%
SBRA	B	0.18%
WTM	A	0.18%
KLIC	C	0.18%
OII	B	0.18%
RDDT	A	0.17%
ESGR	B	0.17%
SLAB	F	0.17%
CWAN	B	0.17%
ENOV	C	0.17%
ALIT	C	0.17%
SGBX	F	0.17%
KMT	C	0.17%
RKLB	B	0.17%
POWL	C	0.17%
HASI	F	0.17%
LRN	A	0.17%
R	B	0.17%
IDCC	B	0.17%
HCC	B	0.17%
KMPR	A	0.17%
PNM	B	0.16%
MOD	A	0.16%
EBC	B	0.16%
SMPL	B	0.16%
CCS	F	0.16%
WD	D	0.16%
TNL	B	0.16%
UE	A	0.16%
SPR	D	0.16%
RRR	F	0.16%
PRIM	A	0.16%
PK	D	0.16%
ABG	B	0.15%
ESE	B	0.15%
ROAD	A	0.15%
GPOR	A	0.15%
NWL	B	0.15%
SITM	B	0.15%
WDFC	B	0.15%
LCII	D	0.15%
KFRC	D	0.15%
ROIC	A	0.15%
CBZ	B	0.15%
TCBI	B	0.15%
RIOT	C	0.15%
WSFS	B	0.15%
CVCO	A	0.14%
ARCB	C	0.14%
PLUS	F	0.14%
SFNC	B	0.14%
GRBK	D	0.14%
PENN	C	0.14%
ATGE	B	0.14%
ARI	C	0.14%
MGEE	A	0.14%
PEGA	B	0.14%
AMED	F	0.14%
BHF	C	0.14%
ABR	B	0.14%
NCNO	B	0.14%
BROS	A	0.14%
HUBG	A	0.14%
AI	B	0.14%
ARCH	B	0.14%
LAUR	A	0.14%
IBOC	B	0.14%
IIPR	F	0.14%
SYNA	D	0.14%
HTLF	B	0.13%
DEI	B	0.13%
LITE	B	0.13%
OMCL	C	0.13%
AVA	C	0.13%
WHD	B	0.13%
BKU	A	0.13%
PPBI	B	0.13%
MIR	A	0.13%
IOSP	C	0.13%
FROG	C	0.13%
SGRY	F	0.13%
ALG	C	0.13%
MRCY	C	0.13%
HIW	D	0.13%
FIBK	B	0.13%
MSGS	B	0.13%
APAM	B	0.13%
STC	B	0.13%
DOCS	C	0.13%
MGRC	B	0.13%
TGNA	B	0.13%
BNL	D	0.13%
FIVN	C	0.12%
RNG	C	0.12%
BANC	B	0.12%
RPD	C	0.12%
VSH	F	0.12%
FA	D	0.12%
UNF	B	0.12%
CALX	D	0.12%
IBTX	B	0.12%
PTON	C	0.12%
CPA	A	0.12%
PCH	D	0.12%
VIRT	A	0.12%
AKR	A	0.12%
JJSF	C	0.12%
SBCF	B	0.12%
KWR	D	0.12%
CNS	B	0.12%
DORM	B	0.12%
SPB	C	0.12%
CAKE	B	0.12%
EPR	D	0.12%
SMG	C	0.12%
KSS	F	0.12%
ZETA	D	0.12%
NGVT	C	0.12%
JBT	A	0.12%
WAFD	B	0.12%
SHO	D	0.12%
NMRK	B	0.12%
UAA	C	0.12%
FCPT	C	0.12%
CLSK	C	0.12%
TDC	D	0.11%
DRH	B	0.11%
TTMI	B	0.11%
DV	C	0.11%
HI	C	0.11%
PSMT	D	0.11%
PZZA	F	0.11%
VC	F	0.11%
AGM	B	0.11%
NNI	D	0.11%
SAM	C	0.11%
MNKD	B	0.11%
WTTR	A	0.11%
ENR	B	0.11%
FELE	B	0.11%
AGYS	A	0.11%
VCTR	B	0.11%
GLNG	D	0.11%
NVGS	C	0.11%
SYBT	B	0.11%
NHC	B	0.1%
GBX	B	0.1%
BXC	B	0.1%
GSHD	B	0.1%
VIAV	C	0.1%
NOG	B	0.1%
CXW	B	0.1%
PI	D	0.1%
PARR	F	0.1%
JBLU	F	0.1%
MIRM	C	0.1%
CWEN	C	0.1%
UMH	A	0.1%
DOCN	D	0.1%
WINA	B	0.1%
PEB	F	0.1%
VAC	C	0.1%
IPAR	C	0.1%
IPGP	D	0.1%
BTU	C	0.1%
NTB	B	0.1%
KN	B	0.1%
BXMT	C	0.1%
MYRG	C	0.1%
PRVA	C	0.1%
FBNC	B	0.1%
SHC	F	0.1%
STAA	F	0.1%
JWN	C	0.1%
ENVA	B	0.1%
SIG	C	0.1%
LGIH	F	0.1%
EVTC	B	0.1%
ARDX	F	0.09%
REX	D	0.09%
GSAT	C	0.09%
QS	D	0.09%
CC	D	0.09%
NWE	C	0.09%
AIV	C	0.09%
BLFS	C	0.09%
FOXF	F	0.09%
ELME	D	0.09%
MODG	F	0.09%
PHIN	B	0.09%
VSTO	A	0.09%
APLE	B	0.09%
MP	C	0.09%
VERX	A	0.09%
WERN	B	0.09%
CABO	C	0.09%
PRM	B	0.09%
CXT	C	0.09%
RC	D	0.09%
KROS	D	0.09%
GOLF	B	0.09%
NX	C	0.09%
PRCT	B	0.09%
IMKTA	C	0.09%
VSEC	B	0.09%
CMCO	C	0.09%
FRSH	C	0.09%
CARG	B	0.09%
ADNT	F	0.09%
BKE	B	0.09%
HLIO	C	0.09%
EYE	C	0.08%
OEC	C	0.08%
WOLF	F	0.08%
REVG	B	0.08%
CRK	A	0.08%
PATK	D	0.08%
JANX	C	0.08%
CLNE	F	0.08%
CGON	F	0.08%
TALO	C	0.08%
PCT	C	0.08%
PAR	A	0.08%
PRDO	B	0.08%
XMTR	C	0.08%
DNOW	B	0.08%
VSTS	F	0.08%
HAYW	B	0.08%
SHOO	D	0.08%
FRHC	A	0.08%
SXI	B	0.08%
USPH	C	0.08%
CUBI	C	0.08%
TRIP	F	0.08%
VRDN	D	0.08%
UA	C	0.08%
ROG	D	0.08%
ENV	B	0.08%
DFIN	D	0.08%
LBPH	A	0.08%
LZB	B	0.08%
STRA	C	0.08%
PLUG	F	0.08%
TARS	C	0.07%
CHEF	B	0.07%
PNTG	D	0.07%
ALGT	C	0.07%
NVRO	F	0.07%
NIC	B	0.07%
TPC	C	0.07%
TMP	B	0.07%
AVXL	C	0.07%
SMR	A	0.07%
EPC	F	0.07%
SATS	C	0.07%
UPWK	C	0.07%
CLOV	D	0.07%
PLRX	D	0.07%
OKLO	C	0.07%
AMR	C	0.07%
BLMN	F	0.07%
AMRC	F	0.07%
B	A	0.07%
SONO	C	0.07%
HMN	B	0.07%
GO	C	0.07%
AGX	B	0.07%
WRBY	A	0.07%
GOGO	C	0.07%
HEES	C	0.07%
HELE	C	0.07%
RVLV	B	0.07%
CERT	F	0.06%
BE	A	0.06%
GSBC	B	0.06%
EBTC	B	0.06%
ACT	D	0.06%
MCBS	B	0.06%
TRST	B	0.06%
JBI	F	0.06%
PFIS	B	0.06%
CTS	C	0.06%
SPFI	B	0.06%
SHBI	B	0.06%
CRMT	F	0.06%
EVRI	A	0.06%
IRON	C	0.06%
FCBC	B	0.06%
NEXT	B	0.06%
WTBA	B	0.06%
KLG	D	0.06%
OBK	B	0.06%
AHH	D	0.06%
TRS	B	0.06%
RBCAA	B	0.06%
CASH	B	0.06%
BMRC	A	0.06%
CVI	D	0.06%
SMBK	B	0.06%
CIVB	B	0.06%
DAWN	D	0.06%
SBSI	B	0.06%
SNDR	B	0.06%
NTST	D	0.06%
SAFT	B	0.06%
TRMK	B	0.06%
SKY	A	0.06%
WASH	B	0.06%
CNOB	B	0.06%
IRMD	C	0.06%
GES	F	0.06%
DFH	F	0.06%
SEMR	C	0.06%
DBRG	F	0.06%
PFC	B	0.06%
CAC	B	0.06%
OCUL	C	0.06%
LEU	C	0.06%
ALEX	B	0.06%
UNTY	B	0.06%
CAL	F	0.06%
SOUN	C	0.06%
HFWA	B	0.06%
CNNE	B	0.05%
SPNT	A	0.05%
ATSG	A	0.05%
FFIC	B	0.05%
SCSC	B	0.05%
DRVN	B	0.05%
ASTE	C	0.05%
NAVI	F	0.05%
PSTL	D	0.05%
ATEN	A	0.05%
FWRD	D	0.05%
DGICA	A	0.05%
TRC	F	0.05%
MSEX	B	0.05%
CAR	C	0.05%
ACCO	B	0.05%
FRBA	C	0.05%
MD	C	0.05%
CFFN	B	0.05%
ECVT	C	0.05%
ASAN	C	0.05%
FIGS	F	0.05%
COHU	D	0.05%
VVI	B	0.05%
CZNC	B	0.05%
WULF	C	0.05%
GNTY	A	0.05%
RLJ	C	0.05%
SPRY	C	0.05%
ULH	B	0.05%
BV	C	0.05%
OLP	A	0.05%
LC	B	0.05%
TPB	A	0.05%
HSII	B	0.05%
LNN	B	0.05%
BFS	C	0.05%
ALRS	C	0.05%
ASTH	F	0.05%
INDI	C	0.05%
SCL	D	0.05%
MLR	C	0.05%
CLB	C	0.05%
KOS	D	0.05%
CTO	B	0.05%
PCB	B	0.05%
TSBK	B	0.05%
TROX	D	0.05%
RBB	B	0.05%
CIFR	C	0.05%
BWB	B	0.05%
AMWD	C	0.05%
CBAN	B	0.05%
SD	F	0.05%
RCUS	F	0.05%
NWN	A	0.05%
CBRL	C	0.05%
NVEE	F	0.05%
EGBN	B	0.05%
NBN	B	0.05%
HBCP	B	0.05%
FBIZ	A	0.05%
SABR	B	0.05%
MOFG	B	0.05%
FNLC	B	0.05%
CTLP	B	0.05%
UNFI	B	0.05%
NTCT	C	0.05%
IVT	A	0.05%
AHCO	D	0.05%
FSLY	F	0.05%
EEX	C	0.05%
CBNK	B	0.05%
DCOM	A	0.05%
AMC	D	0.05%
BCML	B	0.05%
MSGE	F	0.05%
GENI	B	0.05%
CBL	A	0.05%
GASS	D	0.05%
OSW	B	0.05%
HTBK	B	0.05%
XHR	B	0.05%
CMRE	B	0.05%
EFC	C	0.05%
XPEL	C	0.05%
IAS	D	0.04%
FORR	D	0.04%
BCBP	B	0.04%
PAY	A	0.04%
HVT	D	0.04%
ACDC	C	0.04%
VEL	A	0.04%
TTGT	B	0.04%
ACTG	F	0.04%
GDEN	B	0.04%
ACHR	B	0.04%
MBUU	C	0.04%
FLGT	F	0.04%
SB	D	0.04%
UTI	A	0.04%
BMBL	C	0.04%
ALKT	B	0.04%
MBIN	F	0.04%
SBT	D	0.04%
TYRA	D	0.04%
SAVA	C	0.04%
GTX	F	0.04%
GDYN	C	0.04%
SWBI	C	0.04%
TWI	F	0.04%
CSTL	C	0.04%
GLDD	B	0.04%
BOC	D	0.04%
RBBN	B	0.04%
PLTK	B	0.04%
MCW	C	0.04%
DGII	B	0.04%
PRA	B	0.04%
VIR	F	0.04%
BZH	C	0.04%
PYCR	C	0.04%
CHCT	C	0.04%
TRNS	F	0.04%
DX	A	0.04%
LILAK	F	0.04%
AVO	B	0.04%
SPTN	F	0.04%
HAYN	A	0.04%
ENVX	F	0.04%
RYI	C	0.04%
PCYO	A	0.04%
PGRE	D	0.04%
CENX	B	0.04%
KOP	C	0.04%
CDXC	A	0.04%
CARE	B	0.04%
TGLS	B	0.04%
OLMA	F	0.04%
PHAT	F	0.04%
AMTB	C	0.04%
DLX	B	0.04%
WWW	A	0.04%
AROW	B	0.04%
FPI	A	0.04%
LESL	C	0.04%
KALU	C	0.04%
RBRK	A	0.04%
OLO	B	0.04%
VTLE	C	0.04%
IBUY	B	0.04%
PPTA	B	0.04%
HGTY	B	0.04%
ANET	C	0.04%
KW	B	0.04%
UFCS	A	0.04%
MNRO	C	0.04%
APLD	A	0.04%
BLX	B	0.04%
UTZ	D	0.04%
ECPG	C	0.04%
BJRI	C	0.04%
INVA	C	0.04%
APLT	C	0.04%
USCB	B	0.04%
NAPA	A	0.04%
PUMP	D	0.04%
KRNY	B	0.04%
FWRG	C	0.04%
JACK	D	0.04%
PDM	D	0.04%
CGEM	F	0.04%
PINE	D	0.04%
SNCY	C	0.04%
DOLE	D	0.04%
SFST	B	0.04%
LAND	F	0.04%
BTBT	C	0.03%
PAYS	F	0.03%
EOSE	D	0.03%
CELC	F	0.03%
MGNI	A	0.03%
OPRX	F	0.03%
LOVE	A	0.03%
ZUMZ	C	0.03%
ALLO	F	0.03%
VERV	D	0.03%
INNV	F	0.03%
IBTA	D	0.03%
DCGO	B	0.03%
LFST	C	0.03%
XOMA	C	0.03%
DAN	F	0.03%
ERII	D	0.03%
LQDA	F	0.03%
BOOM	F	0.03%
CLFD	F	0.03%
QSI	F	0.03%
GATO	C	0.03%
OZ	B	0.03%
INOD	B	0.03%
MTRX	B	0.03%
CDRE	F	0.03%
PRCH	B	0.03%
ESEA	C	0.03%
FFWM	C	0.03%
XERS	C	0.03%
RES	F	0.03%
RAPT	F	0.03%
CATO	B	0.03%
CCSI	C	0.03%
SRI	F	0.03%
CVGW	D	0.03%
BIGC	C	0.03%
RDUS	C	0.03%
USM	B	0.03%
PRTH	A	0.03%
NINE	C	0.03%
METC	C	0.03%
GEVO	D	0.03%
ODC	C	0.03%
HTZ	C	0.03%
ASIX	C	0.03%
IMXI	B	0.03%
ALDX	C	0.03%
NRDS	C	0.03%
BBW	B	0.03%
CRMD	C	0.03%
KRUS	D	0.03%
BYND	F	0.03%
DC	F	0.03%
BH	A	0.03%
LIND	B	0.03%
FOR	F	0.03%
WRLD	D	0.03%
OSUR	F	0.03%
PTLO	F	0.03%
MITK	D	0.03%
BKSY	B	0.03%
LYEL	F	0.03%
LWLG	D	0.03%
PTVE	B	0.03%
SMTI	B	0.03%
AAOI	A	0.03%
RXST	F	0.03%
MEI	F	0.03%
QNST	C	0.03%
COFS	A	0.03%
VZIO	A	0.03%
CVEO	D	0.03%
PUBM	C	0.03%
ONEW	F	0.03%
OFIX	B	0.03%
SHYF	C	0.03%
WLDN	C	0.03%
RPAY	D	0.03%
FET	D	0.03%
BLND	A	0.03%
DBI	F	0.03%
PFMT	F	0.03%
FREY	B	0.03%
GDOT	D	0.03%
GTN	F	0.03%
CDZI	C	0.03%
PLOW	D	0.03%
IE	C	0.03%
SLP	F	0.03%
GWRS	B	0.03%
TTI	B	0.03%
GBLI	B	0.02%
BLUE	F	0.02%
VRRM	F	0.02%
FULC	F	0.02%
PRME	F	0.02%
ALXO	F	0.02%
REAL	B	0.02%
CADL	F	0.02%
IRBT	F	0.02%
KFS	B	0.02%
AQST	D	0.02%
IHRT	B	0.02%
INZY	F	0.02%
ACMR	F	0.02%
LWAY	C	0.02%
ASRT	D	0.02%
PLCE	C	0.02%
SGHT	F	0.02%
BLNK	F	0.02%
OLPX	D	0.02%
MODV	D	0.02%
RYAM	C	0.02%
OUST	C	0.02%
BW	C	0.02%
MEC	F	0.02%
KOPN	C	0.02%
OM	D	0.02%
SWIM	D	0.02%
XPOF	B	0.02%
LFMD	C	0.02%
ESPR	B	0.02%
RSI	B	0.02%
PSTX	D	0.02%
AEHR	F	0.02%
RZLT	C	0.02%
OBIO	D	0.02%
BRCC	F	0.02%
UIS	C	0.02%
LRMR	D	0.02%
NPCE	C	0.02%
UONE	F	0.02%
OMER	B	0.02%
CEVA	B	0.02%
CRCT	F	0.02%
GLSI	F	0.02%
EXFY	B	0.02%
HNRG	B	0.02%
ACRV	D	0.02%
MVIS	F	0.02%
EYPT	D	0.02%
VITL	D	0.02%
ACIC	B	0.02%
GSL	F	0.02%
LAZR	D	0.02%
ARKO	D	0.02%
AMPS	C	0.02%
SERA	F	0.02%
STXS	C	0.02%
SLDP	F	0.02%
AEYE	C	0.02%
HAIN	D	0.02%
PACK	C	0.02%
ELVN	C	0.02%
LXRX	F	0.02%
DDD	C	0.02%
AIOT	A	0.02%
SENS	F	0.02%
MUX	D	0.02%
FCEL	B	0.02%
SCPH	F	0.02%
RCEL	B	0.02%
TLYS	F	0.02%
NVRI	F	0.02%
BFLY	A	0.02%
EAF	B	0.02%
SRDX	B	0.02%
NDLS	F	0.02%
ANGI	F	0.02%
MNMD	C	0.02%
APPS	F	0.02%
BELFB	C	0.02%
TWKS	B	0.02%
AMCX	C	0.02%
COOK	D	0.02%
CCO	D	0.02%
RLGT	B	0.02%
CPK	A	0.02%
BOWL	D	0.02%
VOR	D	0.02%
TRDA	C	0.02%
NNBR	C	0.02%
ATUS	C	0.02%
BALY	A	0.02%
PINC	B	0.01%
GOSS	F	0.01%
LILA	F	0.01%
SLQT	B	0.01%
FPH	C	0.01%
SES	F	0.01%
MAX	F	0.01%
BMEA	F	0.01%
VERI	F	0.01%
GHLD	F	0.01%
VERU	F	0.01%
STTK	F	0.01%
LNZA	F	0.01%
CABA	F	0.01%
TPIC	F	0.01%
PSNL	D	0.01%
IGMS	F	0.01%
NRC	F	0.01%
ORGN	D	0.0%
SDGR	C	0.0%
WNC	D	0.0%

RFLR Underweight 218 Positions Relative to FESM

Symbol	Grade	Weight
SFM	A	-0.97%
LUMN	C	-0.86%
CRS	A	-0.81%
CVLT	B	-0.77%
ANF	C	-0.74%
FN	B	-0.74%
SPSC	F	-0.72%
COMP	B	-0.58%
IBP	F	-0.57%
NWBI	B	-0.57%
QLYS	C	-0.56%
EME	A	-0.55%
CVNA	A	-0.55%
FIX	A	-0.55%
EXLS	B	-0.54%
PRG	C	-0.54%
MTDR	C	-0.51%
UPBD	C	-0.5%
FLR	B	-0.5%
IGT	F	-0.49%
AIT	B	-0.47%
TMHC	B	-0.47%
LANC	D	-0.45%
SIGI	B	-0.44%
CODI	B	-0.44%
INSM	C	-0.42%
MMSI	A	-0.4%
WTS	B	-0.39%
CBU	B	-0.37%
AAT	A	-0.36%
CRDO	B	-0.36%
PCVX	D	-0.36%
TENB	D	-0.36%
GH	B	-0.35%
CNMD	C	-0.35%
FFIN	B	-0.35%
BBSI	B	-0.33%
SF	B	-0.32%
ATI	C	-0.32%
COKE	C	-0.32%
SWX	A	-0.31%
NJR	A	-0.3%
MTH	D	-0.3%
WOOF	D	-0.3%
GFF	B	-0.3%
PHR	F	-0.29%
TRNO	D	-0.28%
LNW	F	-0.28%
RVMD	B	-0.26%
PLPC	B	-0.25%
HP	C	-0.25%
HQY	A	-0.24%
PSN	C	-0.24%
CPF	B	-0.23%
BUSE	B	-0.23%
HLX	C	-0.23%
ROCK	D	-0.21%
HALO	F	-0.21%
OI	D	-0.21%
AXL	C	-0.21%
ALKS	C	-0.21%
KBH	D	-0.2%
TNC	F	-0.19%
MUR	F	-0.19%
UBSI	B	-0.19%
RMBS	C	-0.19%
CADE	B	-0.18%
FRME	B	-0.18%
IRTC	C	-0.17%
EXPI	C	-0.16%
DXPE	B	-0.16%
BPMC	C	-0.16%
CYTK	D	-0.16%
DOMO	C	-0.15%
STNG	D	-0.15%
NFBK	B	-0.15%
AMSF	B	-0.15%
OPCH	F	-0.14%
WKC	D	-0.14%
FLXS	B	-0.14%
VRTS	B	-0.14%
WSR	A	-0.13%
EXTR	C	-0.13%
SRCE	B	-0.13%
BRC	C	-0.12%
ZEUS	C	-0.12%
DK	D	-0.12%
REPX	A	-0.12%
CHX	C	-0.11%
HCAT	C	-0.11%
DYN	F	-0.11%
CDNA	D	-0.11%
TRUE	C	-0.1%
OSCR	C	-0.1%
NGVC	A	-0.1%
GKOS	A	-0.1%
GMRE	F	-0.1%
KURA	F	-0.1%
RDFN	D	-0.1%
VBTX	B	-0.09%
ADPT	C	-0.09%
AMAL	B	-0.09%
MYGN	F	-0.09%
ARQT	C	-0.09%
BSRR	C	-0.08%
SGMO	C	-0.08%
CDMO	A	-0.08%
DEA	D	-0.08%
EGP	D	-0.08%
LTH	C	-0.08%
AIN	C	-0.08%
URBN	C	-0.08%
WVE	C	-0.08%
SSTK	F	-0.08%
LNTH	F	-0.07%
LIVN	D	-0.07%
NVAX	F	-0.07%
ORIC	F	-0.07%
KOD	B	-0.07%
HRTG	C	-0.07%
FISI	B	-0.07%
PGC	A	-0.07%
MYE	F	-0.07%
OPEN	F	-0.07%
NUVB	C	-0.07%
ATNI	F	-0.07%
MEDP	D	-0.07%
WSBF	B	-0.07%
COLL	F	-0.07%
BBIO	F	-0.07%
ANNX	F	-0.06%
ERAS	C	-0.06%
ARCT	F	-0.06%
CMC	B	-0.06%
CCCC	F	-0.06%
HURC	C	-0.06%
GIC	F	-0.06%
CLDX	F	-0.06%
CERS	D	-0.06%
QTRX	D	-0.06%
FBK	B	-0.06%
ALLK	D	-0.05%
OABI	D	-0.05%
PAHC	B	-0.05%
ATRO	F	-0.05%
ORGO	B	-0.05%
UHT	D	-0.05%
OIS	C	-0.05%
BY	B	-0.05%
SNBR	F	-0.05%
ONTO	F	-0.05%
MCRI	A	-0.05%
LPSN	F	-0.04%
BLBD	F	-0.04%
BDTX	F	-0.04%
TNDM	F	-0.04%
TERN	F	-0.04%
NUVL	D	-0.04%
VYGR	F	-0.04%
IDYA	F	-0.04%
TXRH	B	-0.04%
PRTS	C	-0.03%
ANIK	F	-0.03%
ACET	F	-0.03%
RMAX	D	-0.03%
SHEN	F	-0.03%
CWCO	C	-0.03%
RLMD	F	-0.03%
BEAM	C	-0.03%
ENSG	D	-0.03%
STNE	F	-0.03%
MED	F	-0.03%
RLAY	F	-0.03%
RCKT	F	-0.03%
ASC	D	-0.03%
UVSP	B	-0.03%
UFPI	C	-0.03%
ETWO	F	-0.03%
BHLB	B	-0.03%
LMAT	A	-0.03%
GRC	B	-0.03%
FATE	F	-0.03%
RCKY	F	-0.02%
EB	C	-0.02%
UPLD	B	-0.02%
DIN	C	-0.02%
CTMX	F	-0.02%
NTLA	F	-0.02%
ZIMV	F	-0.02%
TNET	F	-0.02%
ABUS	D	-0.02%
SVRA	F	-0.02%
JBSS	F	-0.02%
PRAA	C	-0.02%
GPRE	F	-0.02%
FCF	B	-0.02%
DOC	D	-0.02%
SWTX	C	-0.02%
ALHC	C	-0.02%
NKTX	F	-0.02%
ALEC	F	-0.02%
ALT	C	-0.02%
KPTI	D	-0.02%
PBYI	D	-0.02%
FSTR	B	-0.02%
PKE	C	-0.02%
BOLT	F	-0.01%
CARA	D	-0.01%
WFRD	F	-0.01%
ALVR	F	-0.01%
NOVA	F	-0.01%
ZDGE	F	-0.01%
FGEN	F	-0.01%
CHRS	F	-0.01%
AVTE	C	-0.01%
SMMT	D	-0.01%
ADAP	F	-0.01%
RIG	D	-0.01%