SMLF vs. AFSM ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Active Factor Small Cap ETF (AFSM)

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. 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. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$66.13

Average Daily Volume

76,961

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

AFSM

Active Factor Small Cap ETF

AFSM Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by small capitalization companies. The manager defines small capitalization companies as those that, at the time of investment, have a market capitalization between a minimum of $250 million and the maximum market capitalization of a widely recognized index of small capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$30.64

Average Daily Volume

6,330

Number of Holdings ^*

295

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	AFSM
30 Days	4.99%	4.07%
60 Days	10.44%	8.85%
90 Days	9.91%	9.41%
12 Months	33.05%	30.99%

170 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in AFSM	Overlap
ABG	D	0.15%	0.25%	0.15%
ACLS	F	0.17%	0.03%	0.03%
ADMA	A	0.06%	0.26%	0.06%
AGX	A	0.06%	0.17%	0.06%
AIT	B	0.11%	0.12%	0.11%
ALKS	B	0.3%	0.92%	0.3%
ALRM	F	0.03%	0.13%	0.03%
AMCX	F	0.02%	0.1%	0.02%
AMN	F	0.06%	0.06%	0.06%
AMPH	C	0.08%	0.05%	0.05%
AMR	F	0.15%	0.42%	0.15%
ANF	D	0.32%	0.88%	0.32%
APOG	B	0.1%	0.32%	0.1%
APPF	C	0.07%	0.54%	0.07%
AROC	B	0.11%	0.6%	0.11%
ASGN	D	0.01%	0.2%	0.01%
ASO	D	0.08%	0.35%	0.08%
ATEN	B	0.08%	0.05%	0.05%
ATKR	F	0.2%	0.32%	0.2%
AXSM	D	0.22%	0.19%	0.19%
AYI	A	0.31%	0.13%	0.13%
BCC	C	0.23%	0.77%	0.23%
BDC	A	0.09%	0.4%	0.09%
BKE	B	0.12%	0.29%	0.12%
BKH	C	0.01%	0.28%	0.01%
BKU	D	0.0%	0.25%	0.0%
BMI	A	0.16%	0.65%	0.16%
BPMC	F	0.13%	0.35%	0.13%
BRBR	A	0.05%	0.48%	0.05%
BRC	C	0.18%	0.17%	0.17%
CAL	F	0.09%	0.42%	0.09%
CASH	C	0.0%	0.3%	0.0%
CEIX	B	0.07%	0.59%	0.07%
CGEM	F	0.04%	0.12%	0.04%
CHCO	D	0.0%	0.51%	0.0%
CHRD	F	0.03%	0.12%	0.03%
CMC	D	0.14%	0.31%	0.14%
CMPR	F	0.11%	0.22%	0.11%
COKE	C	0.25%	0.58%	0.25%
COOP	B	0.4%	0.61%	0.4%
CORT	B	0.25%	0.46%	0.25%
CPRX	C	0.22%	0.86%	0.22%
CRAI	B	0.01%	0.32%	0.01%
CRDO	B	0.08%	0.21%	0.08%
CRS	B	0.09%	0.83%	0.09%
CSWI	A	0.08%	0.45%	0.08%
CUZ	C	0.08%	0.31%	0.08%
CVLT	B	0.07%	0.71%	0.07%
CVNA	A	0.34%	0.4%	0.34%
DDS	D	0.3%	0.49%	0.3%
DFIN	B	0.12%	0.51%	0.12%
DNOW	F	0.09%	0.26%	0.09%
EGBN	C	0.0%	0.46%	0.0%
EIG	A	0.07%	0.12%	0.07%
EMBC	F	0.03%	0.03%	0.03%
EME	B	0.84%	0.71%	0.71%
ENS	B	0.04%	0.22%	0.04%
EPAC	A	0.06%	0.0%	0.0%
EXTR	D	0.17%	0.21%	0.17%
FBP	B	0.21%	0.35%	0.21%
FIX	A	0.41%	0.73%	0.41%
GEO	D	0.06%	0.27%	0.06%
GES	F	0.19%	0.19%	0.19%
GFF	C	0.12%	0.1%	0.1%
GIII	C	0.03%	0.27%	0.03%
GMED	B	0.02%	0.57%	0.02%
GMS	B	0.08%	0.56%	0.08%
HAE	F	0.19%	0.21%	0.19%
HALO	D	0.27%	0.71%	0.27%
HCC	C	0.06%	0.26%	0.06%
HE	F	0.07%	0.04%	0.04%
HIMS	C	0.09%	0.35%	0.09%
HIW	C	0.2%	0.37%	0.2%
HOV	D	0.13%	0.2%	0.13%
HRB	C	0.45%	0.5%	0.45%
HSII	D	0.26%	0.54%	0.26%
HURN	D	0.24%	0.26%	0.24%
HWKN	B	0.06%	0.65%	0.06%
IBOC	D	0.09%	0.28%	0.09%
IDCC	A	0.07%	0.94%	0.07%
IESC	A	0.02%	0.3%	0.02%
IMKTA	F	0.26%	0.24%	0.24%
INTA	C	0.23%	0.22%	0.22%
INVA	B	0.1%	0.11%	0.1%
ITCI	D	0.05%	0.24%	0.05%
JXN	A	0.0%	0.68%	0.0%
KN	B	0.08%	0.23%	0.08%
KRC	C	0.13%	0.2%	0.13%
KSS	D	0.1%	0.08%	0.08%
LGND	C	0.08%	0.36%	0.08%
LMAT	A	0.02%	0.22%	0.02%
LNTH	C	0.24%	0.59%	0.24%
LPG	F	0.05%	0.44%	0.05%
LRN	D	0.14%	0.32%	0.14%
M	D	0.19%	0.4%	0.19%
MATX	C	0.19%	0.34%	0.19%
MCY	B	0.05%	0.6%	0.05%
MED	F	0.07%	0.25%	0.07%
MEDP	F	0.4%	0.26%	0.26%
MITK	F	0.01%	0.0%	0.0%
MLI	B	0.41%	1.13%	0.41%
MOG.A	C	0.03%	0.33%	0.03%
MTG	A	0.1%	0.81%	0.1%
NAVI	D	0.2%	0.2%	0.2%
NHI	C	0.05%	0.64%	0.05%
NSIT	B	0.09%	0.07%	0.07%
NSSC	F	0.1%	0.22%	0.1%
NTB	D	0.07%	0.61%	0.07%
NTCT	C	0.11%	0.23%	0.11%
NUS	F	0.02%	0.22%	0.02%
NVST	D	0.06%	0.17%	0.06%
NX	F	0.03%	0.2%	0.03%
ODP	F	0.14%	0.34%	0.14%
OFG	D	0.29%	0.58%	0.29%
OGS	C	0.14%	0.05%	0.05%
OMI	F	0.06%	0.07%	0.06%
ONTO	B	0.21%	0.26%	0.21%
OSCR	C	0.11%	0.17%	0.11%
OTTR	F	0.07%	0.05%	0.05%
PBF	F	0.02%	0.35%	0.02%
PDM	C	0.18%	0.36%	0.18%
PFBC	D	0.0%	0.78%	0.0%
PHIN	D	0.08%	0.27%	0.08%
PI	A	0.17%	0.6%	0.17%
PIPR	A	0.3%	0.22%	0.22%
PK	D	0.06%	0.21%	0.06%
PLUS	B	0.09%	0.64%	0.09%
POWL	B	0.29%	0.47%	0.29%
PRDO	D	0.0%	0.44%	0.0%
PRG	C	0.18%	0.28%	0.18%
PRGS	A	0.18%	0.4%	0.18%
RAMP	F	0.02%	0.09%	0.02%
RDN	D	0.0%	0.78%	0.0%
REVG	D	0.03%	0.05%	0.03%
RYI	D	0.03%	0.03%	0.03%
SANM	D	0.2%	0.6%	0.2%
SCS	D	0.08%	0.33%	0.08%
SFM	A	0.48%	0.81%	0.48%
SIG	C	0.28%	0.41%	0.28%
SLG	C	0.46%	0.6%	0.46%
SLVM	C	0.02%	0.61%	0.02%
SPSC	D	0.13%	0.1%	0.1%
STRL	B	0.24%	0.68%	0.24%
SUPN	D	0.02%	0.51%	0.02%
SWI	B	0.01%	0.03%	0.01%
SWX	C	0.01%	0.05%	0.01%
TARS	C	0.04%	0.14%	0.04%
TBBK	A	0.0%	0.68%	0.0%
TDC	D	0.01%	0.04%	0.01%
TEX	F	0.19%	0.48%	0.19%
TGNA	B	0.08%	0.5%	0.08%
TGTX	D	0.02%	0.14%	0.02%
TILE	C	0.04%	0.29%	0.04%
TMHC	C	0.1%	0.72%	0.1%
TNC	F	0.07%	0.21%	0.07%
TPH	C	0.16%	0.07%	0.07%
TRMK	D	0.0%	0.29%	0.0%
UVE	C	0.03%	0.75%	0.03%
VIRT	B	0.03%	0.26%	0.03%
VITL	C	0.04%	0.04%	0.04%
VNDA	F	0.03%	0.22%	0.03%
VRNS	B	0.12%	0.31%	0.12%
VSH	F	0.11%	0.19%	0.11%
VSTO	B	0.13%	0.06%	0.06%
WFRD	F	0.37%	0.42%	0.37%
WGO	D	0.05%	0.07%	0.05%
WNC	F	0.08%	0.39%	0.08%
XRX	D	0.23%	0.2%	0.2%
YEXT	B	0.13%	0.09%	0.09%
YOU	C	0.29%	0.46%	0.29%

SMLF Overweight 645 Positions Relative to AFSM

Symbol	Grade	Weight
EVR	C	0.72%
APP	A	0.7%
DECK	B	0.68%
BPOP	D	0.57%
JBL	C	0.55%
MANH	A	0.53%
WSM	C	0.52%
NTNX	C	0.5%
NVT	C	0.5%
RS	D	0.48%
ALSN	A	0.48%
WING	C	0.47%
AXON	A	0.45%
IDA	D	0.43%
CSL	A	0.42%
DKS	D	0.42%
LPX	C	0.41%
ORI	A	0.41%
CNM	F	0.41%
MSTR	B	0.41%
DUOL	B	0.4%
IOT	C	0.4%
VNO	B	0.4%
AM	A	0.39%
COCO	C	0.39%
PCOR	D	0.38%
IBKR	A	0.37%
LBRDA	C	0.37%
BRX	C	0.37%
UTHR	C	0.37%
LAMR	C	0.36%
FR	D	0.35%
NTRA	A	0.35%
CR	A	0.34%
CHE	D	0.34%
GTLB	D	0.34%
TTEK	A	0.34%
JEF	A	0.34%
VGR	B	0.33%
SOLV	C	0.33%
THC	D	0.33%
CAVA	B	0.32%
EWBC	B	0.32%
ITT	C	0.32%
WSO	C	0.31%
MAC	B	0.31%
WK	D	0.31%
XRAY	D	0.31%
GGG	C	0.31%
SN	A	0.3%
PSTG	F	0.3%
SPXC	A	0.3%
CROX	C	0.29%
MOD	B	0.29%
FLEX	B	0.29%
GPK	D	0.28%
SMAR	A	0.27%
JHG	A	0.27%
ENTG	D	0.27%
AN	D	0.27%
TPR	B	0.26%
PRI	A	0.26%
CHK	C	0.26%
R	C	0.26%
AMH	D	0.26%
LBTYA	C	0.26%
FCNCA	D	0.25%
TPX	C	0.25%
APA	F	0.25%
LSCC	D	0.25%
BLD	D	0.25%
TREX	D	0.24%
UFPI	C	0.24%
AGO	B	0.24%
SMG	C	0.23%
AMG	B	0.23%
ETSY	F	0.23%
RNR	A	0.23%
GAP	F	0.23%
HAS	A	0.23%
JOE	D	0.23%
W	C	0.23%
SKT	A	0.23%
SRPT	F	0.23%
ESTC	F	0.23%
ARW	C	0.22%
AZPN	A	0.22%
DNLI	C	0.22%
BBWI	F	0.22%
AGCO	D	0.22%
OVV	D	0.22%
LIVN	C	0.21%
CBSH	D	0.21%
JBSS	F	0.21%
RPM	A	0.21%
AR	C	0.21%
CFR	B	0.21%
GPI	C	0.21%
CW	A	0.21%
RMBS	F	0.2%
GLPI	C	0.2%
TKR	B	0.2%
ZION	D	0.2%
RRX	B	0.2%
MUR	F	0.2%
EXLS	B	0.2%
AGNC	B	0.19%
RRC	D	0.19%
HOG	D	0.19%
TPG	A	0.19%
EXEL	B	0.19%
NDSN	C	0.19%
ELF	F	0.19%
BRKR	D	0.19%
AVNT	C	0.19%
ACM	A	0.19%
LNW	F	0.18%
TDOC	D	0.18%
CWEN	C	0.18%
FROG	F	0.18%
WS	D	0.18%
KFRC	F	0.18%
KNSL	B	0.18%
LUMN	C	0.18%
DCI	B	0.18%
ALLE	A	0.17%
AIZ	B	0.17%
VOYA	A	0.17%
ATI	C	0.17%
RNG	F	0.17%
OC	C	0.17%
VCYT	C	0.17%
PGRE	D	0.17%
PVH	D	0.17%
USFD	C	0.17%
TOL	C	0.17%
FAF	C	0.17%
WCC	D	0.17%
KRG	C	0.17%
TTC	F	0.16%
CVCO	C	0.16%
BJ	B	0.16%
SLM	B	0.16%
TOST	B	0.16%
SKY	C	0.16%
IGT	F	0.16%
ESAB	C	0.16%
HLI	A	0.16%
IONS	F	0.16%
PRKS	C	0.16%
SSD	B	0.16%
SPB	C	0.16%
MMYT	B	0.16%
SATS	C	0.16%
RHI	D	0.16%
SQSP	A	0.16%
DTM	A	0.16%
WTM	C	0.15%
NJR	C	0.15%
OMF	D	0.15%
TNL	B	0.15%
RL	B	0.15%
SF	A	0.15%
AY	C	0.15%
CNO	B	0.15%
NOVT	C	0.15%
ONON	A	0.15%
KIM	C	0.15%
SPT	F	0.15%
IVT	B	0.15%
ACLX	C	0.15%
GH	F	0.15%
NUVL	B	0.15%
ESI	C	0.15%
TNET	D	0.14%
BSY	D	0.14%
NSP	F	0.14%
MMSI	C	0.14%
SCI	D	0.14%
GME	D	0.14%
UA	B	0.14%
CRUS	D	0.14%
BL	D	0.14%
RGLD	C	0.14%
INSP	C	0.14%
FYBR	C	0.14%
SBGI	A	0.14%
SRCE	D	0.14%
ENSG	D	0.14%
OGE	C	0.13%
BRZE	F	0.13%
VECO	F	0.13%
NOV	F	0.13%
GNRC	B	0.13%
WTS	C	0.13%
NYT	C	0.13%
CUBE	C	0.13%
RYAN	A	0.13%
GOLF	F	0.13%
SSTK	F	0.13%
FTAI	A	0.13%
DOCS	A	0.13%
IPAR	D	0.13%
HUN	B	0.13%
CBT	B	0.13%
BLKB	C	0.13%
MFA	C	0.13%
KBR	A	0.13%
THO	C	0.13%
NFG	A	0.13%
GATX	F	0.13%
XPO	F	0.13%
WMS	D	0.13%
VMI	B	0.13%
XNCR	D	0.13%
AA	B	0.13%
OLN	D	0.12%
CHX	C	0.12%
BWXT	A	0.12%
PCTY	C	0.12%
ALX	D	0.12%
SFBS	B	0.12%
KAI	C	0.12%
NNN	C	0.12%
UMBF	C	0.12%
QLYS	F	0.12%
LILA	B	0.12%
BANF	D	0.12%
AWR	B	0.12%
BCRX	D	0.12%
MAT	B	0.12%
ACCO	C	0.12%
WAFD	D	0.12%
WEN	B	0.12%
SR	D	0.12%
PTEN	F	0.11%
KLIC	D	0.11%
ACAD	F	0.11%
SON	D	0.11%
EXPI	C	0.11%
PNM	B	0.11%
WH	C	0.11%
BAND	C	0.11%
SYNA	F	0.11%
PARA	F	0.11%
CYTK	D	0.11%
UGI	C	0.11%
INSM	D	0.11%
ICFI	C	0.11%
BERY	C	0.11%
PCVX	C	0.11%
COUR	F	0.11%
OPCH	F	0.11%
EXPO	A	0.11%
WEX	C	0.11%
HTH	F	0.11%
MTRN	F	0.1%
AAN	B	0.1%
UPBD	F	0.1%
CARG	C	0.1%
SAIA	D	0.1%
OHI	C	0.1%
FHI	A	0.1%
BASE	F	0.1%
WSC	D	0.1%
BC	C	0.1%
NYCB	D	0.1%
WAL	C	0.1%
KW	C	0.1%
MATV	F	0.1%
IVZ	A	0.1%
SWN	D	0.1%
X	F	0.1%
LSTR	F	0.1%
LAZ	C	0.1%
EGP	D	0.1%
OII	D	0.1%
VMEO	C	0.1%
RDDT	B	0.1%
LOVE	C	0.1%
APG	F	0.09%
MPW	C	0.09%
CACC	F	0.09%
LBTYK	C	0.09%
HASI	B	0.09%
EEFT	F	0.09%
YETI	C	0.09%
BECN	D	0.09%
ALIT	D	0.09%
JACK	F	0.09%
HP	D	0.09%
CXT	F	0.09%
CRC	B	0.09%
SITC	D	0.09%
MIDD	D	0.09%
ACA	C	0.09%
MTN	D	0.09%
MCB	B	0.09%
CHDN	C	0.09%
AGM	D	0.09%
LYFT	D	0.08%
TENB	D	0.08%
HI	F	0.08%
LZ	D	0.08%
FLR	B	0.08%
LXP	D	0.08%
CARS	F	0.08%
BCO	C	0.08%
CAR	D	0.08%
FLNC	C	0.08%
PD	F	0.08%
NXST	D	0.08%
PBH	D	0.08%
ILPT	D	0.08%
MTSI	B	0.08%
PNFP	B	0.08%
PLNT	B	0.08%
DVAX	F	0.08%
ASB	D	0.08%
MKSI	F	0.08%
BOX	C	0.08%
CUBI	F	0.08%
VFC	A	0.08%
VC	F	0.08%
VERA	C	0.08%
MDGL	F	0.08%
RGEN	F	0.08%
ELAN	D	0.08%
ASH	F	0.08%
WOR	F	0.08%
MRC	D	0.08%
ALV	F	0.08%
ADEA	B	0.07%
CLH	B	0.07%
OXM	F	0.07%
SNEX	B	0.07%
BLMN	F	0.07%
GCO	D	0.07%
TXRH	A	0.07%
PEGA	B	0.07%
AZEK	D	0.07%
UVV	D	0.07%
ANAB	D	0.07%
WLY	A	0.07%
SANA	F	0.07%
SM	D	0.07%
FLO	D	0.07%
HWC	D	0.07%
ANGI	D	0.07%
EQC	D	0.07%
HOUS	D	0.07%
GKOS	B	0.07%
DH	F	0.07%
FHB	D	0.07%
DLX	F	0.07%
RIG	F	0.07%
RYN	C	0.07%
MASI	B	0.07%
CXW	F	0.07%
AIV	D	0.07%
VIR	F	0.07%
KNF	B	0.07%
CNMD	F	0.07%
VKTX	C	0.07%
SFL	D	0.07%
OZK	D	0.07%
UNIT	B	0.07%
ACHC	F	0.07%
WYNN	B	0.07%
COTY	F	0.07%
POR	D	0.07%
HEES	D	0.07%
GPMT	D	0.06%
TRN	C	0.06%
MERC	D	0.06%
FN	B	0.06%
WBA	F	0.06%
YELP	D	0.06%
APLS	F	0.06%
CENTA	F	0.06%
PEN	D	0.06%
CASY	D	0.06%
VAC	D	0.06%
LFUS	C	0.06%
FIVN	F	0.06%
NXT	F	0.06%
AMLX	D	0.06%
MDU	C	0.06%
AEO	C	0.06%
NBR	D	0.06%
LADR	D	0.06%
DOMO	F	0.06%
AMRX	B	0.06%
CC	D	0.06%
NARI	F	0.06%
AMPL	D	0.06%
STWD	C	0.06%
AVDX	F	0.05%
ITGR	B	0.05%
PFSI	C	0.05%
RCUS	D	0.05%
OLED	B	0.05%
ITRI	C	0.05%
MAN	D	0.05%
BKD	F	0.05%
ASAN	F	0.05%
BCPC	C	0.05%
VNT	F	0.05%
ACI	F	0.05%
AVAV	B	0.05%
EHC	C	0.05%
BEAM	F	0.05%
AMBC	F	0.05%
CTBI	B	0.05%
CERS	F	0.05%
RKT	D	0.05%
CNX	A	0.05%
WTTR	B	0.05%
FOLD	F	0.05%
S	C	0.05%
LECO	D	0.05%
ZIP	D	0.05%
KOS	F	0.05%
SMTC	C	0.05%
MMS	C	0.05%
AFRM	C	0.05%
EYPT	F	0.05%
CELH	F	0.05%
PATH	D	0.05%
RUSHA	D	0.05%
FUN	F	0.05%
IBP	C	0.05%
THR	F	0.05%
SITE	D	0.05%
PZZA	D	0.05%
KD	D	0.05%
IRTC	F	0.05%
MDXG	F	0.04%
CLVT	D	0.04%
OI	D	0.04%
SPRY	C	0.04%
FHN	D	0.04%
ACCD	F	0.04%
SLAB	D	0.04%
OPI	F	0.04%
QDEL	D	0.04%
DIN	D	0.04%
TDS	C	0.04%
SOFI	C	0.04%
SAH	D	0.04%
ARRY	F	0.04%
CFFN	D	0.04%
SNV	D	0.04%
DAWN	D	0.04%
AGYS	D	0.04%
PRGO	F	0.04%
OUT	C	0.04%
IVR	C	0.04%
RDFN	C	0.04%
AGS	A	0.04%
HSTM	B	0.04%
HELE	D	0.04%
NATL	D	0.04%
SNBR	C	0.04%
EVH	D	0.04%
SVC	D	0.04%
WBS	D	0.04%
AVXL	D	0.04%
NRC	F	0.04%
FFIN	D	0.04%
HLF	F	0.04%
KREF	C	0.04%
STAG	D	0.04%
FCN	C	0.04%
KLG	F	0.04%
ROKU	C	0.04%
IOSP	F	0.04%
CVI	D	0.04%
SONO	F	0.04%
WD	C	0.03%
QRTEA	D	0.03%
ARCB	F	0.03%
TSE	C	0.03%
DAN	D	0.03%
CIEN	A	0.03%
TCBI	B	0.03%
OFIX	D	0.03%
ATRC	C	0.03%
DNB	D	0.03%
MGNI	D	0.03%
ARCH	D	0.03%
ADT	D	0.03%
SNDX	F	0.03%
OPEN	F	0.03%
BILL	D	0.03%
EVTC	D	0.03%
LTH	B	0.03%
RGNX	F	0.03%
SGH	D	0.03%
TWO	D	0.03%
JELD	D	0.03%
SWIM	B	0.03%
PDCO	F	0.03%
BRSP	D	0.03%
UDMY	F	0.03%
CHWY	C	0.03%
TLRY	F	0.03%
TPB	C	0.03%
DBI	F	0.03%
XHR	A	0.03%
HNI	B	0.03%
RLI	A	0.03%
FLYW	F	0.03%
IDT	C	0.03%
BBIO	F	0.03%
QXO	F	0.03%
CORZ	C	0.03%
RPD	D	0.03%
FL	F	0.03%
RVMD	B	0.03%
CNS	C	0.03%
CALX	C	0.03%
CDP	A	0.03%
ARWR	F	0.03%
PRO	F	0.02%
ERAS	D	0.02%
OSUR	F	0.02%
NTLA	F	0.02%
OSIS	C	0.02%
SHO	B	0.02%
MSM	D	0.02%
KVYO	B	0.02%
KRNY	C	0.02%
BMBL	F	0.02%
CACI	A	0.02%
WOOF	B	0.02%
HMST	B	0.02%
OLPX	C	0.02%
NWL	D	0.02%
WTFC	B	0.02%
KFY	C	0.02%
HAIN	C	0.02%
PII	D	0.02%
VSTS	D	0.02%
BRY	F	0.02%
MTW	F	0.02%
EDR	A	0.02%
GPRO	F	0.02%
DYN	D	0.02%
MSA	F	0.02%
EVRI	A	0.02%
PR	D	0.02%
ARCT	D	0.02%
IRWD	F	0.02%
RLJ	D	0.02%
DOCN	B	0.02%
PTCT	C	0.02%
FSS	D	0.02%
AKRO	D	0.02%
EPR	C	0.02%
CNDT	B	0.02%
DY	C	0.02%
JANX	C	0.02%
CRSP	F	0.02%
LANC	F	0.02%
ALHC	C	0.02%
VCEL	F	0.02%
VIAV	C	0.02%
AXTA	C	0.02%
SAFE	C	0.02%
USNA	F	0.02%
CWK	D	0.01%
SFIX	F	0.01%
RBRK	D	0.01%
JOBY	C	0.01%
ZUO	F	0.01%
DINO	F	0.01%
VAL	F	0.01%
PGEN	F	0.01%
AIN	F	0.01%
TTGT	F	0.01%
ARR	D	0.01%
OMER	F	0.01%
BIGC	F	0.01%
GO	F	0.01%
PCH	C	0.01%
EPC	F	0.01%
PEB	D	0.01%
POWI	F	0.01%
FLWS	F	0.01%
OIS	D	0.01%
ALGM	F	0.01%
ENVA	B	0.01%
JAMF	F	0.01%
HQY	B	0.01%
CAKE	A	0.01%
UTL	D	0.01%
UPWK	D	0.01%
WTI	C	0.01%
MBC	C	0.01%
VRE	C	0.01%
NWN	D	0.01%
TR	D	0.01%
NGVT	D	0.01%
HTZ	F	0.01%
BSIG	D	0.01%
PYCR	D	0.01%
ROIV	D	0.01%
HCAT	C	0.01%
SWTX	F	0.01%
AXS	A	0.01%
ENR	B	0.01%
STGW	B	0.01%
MLAB	B	0.01%
ALAB	C	0.01%
GEF	B	0.01%
GWRE	A	0.01%
BYD	B	0.01%
UNFI	C	0.01%
XPRO	F	0.01%
NFBK	D	0.01%
KALU	D	0.01%
MBLY	F	0.01%
RHP	B	0.01%
NEXA	B	0.01%
AEIS	B	0.01%
RXT	C	0.01%
HXL	F	0.01%
SSB	C	0.01%
HYFM	D	0.0%
BFH	D	0.0%
MC	B	0.0%
SEE	C	0.0%
GDOT	C	0.0%
NBTB	D	0.0%
HPP	F	0.0%
CVBF	B	0.0%
FULT	D	0.0%
BOH	D	0.0%
UNM	A	0.0%
DEI	A	0.0%
GNW	A	0.0%
BDN	B	0.0%
CMA	C	0.0%
AX	D	0.0%

SMLF Underweight 125 Positions Relative to AFSM

Symbol	Grade	Weight
NHC	D	-1.21%
SKYW	B	-0.98%
TNK	C	-0.85%
MHO	C	-0.84%
DAKT	D	-0.78%
ZETA	B	-0.72%
NMIH	B	-0.65%
CALM	A	-0.63%
UFPT	D	-0.62%
CRVL	C	-0.6%
DOLE	C	-0.58%
ACT	B	-0.57%
KBH	D	-0.57%
BELFB	A	-0.56%
FDP	C	-0.56%
BTU	B	-0.55%
STBA	D	-0.55%
MUSA	D	-0.54%
PRK	D	-0.53%
REZI	D	-0.51%
BXC	D	-0.5%
IIPR	C	-0.5%
AMWD	C	-0.5%
BLBD	D	-0.48%
RMR	B	-0.47%
EVER	D	-0.45%
PLAB	D	-0.45%
ADUS	D	-0.45%
PINC	F	-0.44%
VRNT	F	-0.43%
HRMY	D	-0.43%
SPNS	B	-0.41%
ESNT	A	-0.41%
MTH	C	-0.4%
YMAB	C	-0.39%
CNXN	C	-0.39%
ANIP	F	-0.38%
CCRN	F	-0.37%
INMD	F	-0.37%
GRBK	C	-0.37%
TMDX	D	-0.37%
HDSN	F	-0.35%
RXST	F	-0.35%
TWI	F	-0.34%
LOPE	D	-0.33%
AVNS	D	-0.33%
QTWO	B	-0.33%
BNL	C	-0.32%
RDNT	C	-0.32%
ASC	D	-0.31%
USLM	C	-0.31%
SBRA	C	-0.3%
PRMW	B	-0.3%
PFS	D	-0.29%
AKR	B	-0.29%
DXC	C	-0.29%
GNK	D	-0.29%
MD	B	-0.28%
CNK	D	-0.28%
ATGE	D	-0.28%
TCMD	C	-0.28%
THFF	D	-0.27%
INSW	B	-0.27%
PSN	A	-0.27%
HCI	B	-0.27%
HUBG	D	-0.27%
AZZ	B	-0.27%
BHE	C	-0.27%
PRM	C	-0.26%
AMKR	F	-0.26%
SMP	D	-0.24%
KELYA	D	-0.23%
HLX	C	-0.23%
SBH	B	-0.23%
STNG	B	-0.22%
DHT	B	-0.22%
UCTT	D	-0.22%
GOGL	C	-0.22%
MRVI	F	-0.22%
ADNT	F	-0.21%
SIGA	F	-0.21%
BLFS	D	-0.2%
SXC	F	-0.2%
HY	D	-0.2%
WABC	F	-0.19%
VCTR	A	-0.18%
SGBX	F	-0.18%
SCVL	D	-0.18%
SD	D	-0.17%
TPC	A	-0.16%
SCSC	D	-0.15%
HROW	B	-0.15%
CWCO	F	-0.14%
ASTH	B	-0.14%
CLW	F	-0.14%
METC	D	-0.14%
TWST	D	-0.14%
CECO	D	-0.14%
MAX	C	-0.14%
NECB	C	-0.13%
MOV	F	-0.13%
PCRX	D	-0.12%
CSGS	B	-0.12%
ALKT	D	-0.11%
CTRE	C	-0.08%
KRYS	D	-0.08%
KTB	C	-0.08%
MLKN	F	-0.08%
COLL	A	-0.06%
EOLS	C	-0.06%
JWN	D	-0.06%
SEMR	C	-0.05%
ETH	F	-0.05%
FORM	D	-0.05%
ANDE	D	-0.05%
GRND	D	-0.05%
FTDR	B	-0.05%
CTS	B	-0.05%
APAM	B	-0.05%
LBRT	D	-0.04%
JBI	F	-0.04%
PHR	F	-0.04%
PGNY	F	-0.03%
ACIW	A	-0.02%
MAIN	A	-0.0%