SMLF vs. AVUV ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Avantis U.S. Small Cap Value ETF (AVUV)

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

$65.67

Average Daily Volume

77,865

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

AVUV

Avantis U.S. Small Cap Value ETF

AVUV Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of U.S. small cap companies across market sectors and industry groups. Under normal market conditions, it will invest at least 80% of its assets in securities of small capitalization companies located in the United States. The fund also may invest in derivative instruments such as futures contracts, currency forwards, and swap agreements.

Grade (RS Rating)

Last Trade

$94.55

Average Daily Volume

782,088

Number of Holdings ^*

711

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	AVUV
30 Days	1.12%	-1.02%
60 Days	6.77%	3.18%
90 Days	8.22%	5.96%
12 Months	32.20%	26.89%

204 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in AVUV	Overlap
AAN	C	0.1%	0.05%	0.05%
ACCO	C	0.12%	0.05%	0.05%
AEO	B	0.06%	0.69%	0.06%
AGM	F	0.09%	0.22%	0.09%
AGO	B	0.24%	0.43%	0.24%
AGX	A	0.06%	0.24%	0.06%
ALIT	D	0.09%	0.06%	0.06%
ALKS	B	0.3%	0.36%	0.3%
AM	A	0.39%	0.16%	0.16%
AMBC	F	0.05%	0.06%	0.05%
AMCX	F	0.02%	0.04%	0.02%
AMPH	C	0.08%	0.19%	0.08%
AMR	F	0.15%	0.51%	0.15%
ANF	F	0.32%	0.47%	0.32%
APOG	B	0.1%	0.26%	0.1%
ARCB	D	0.03%	0.36%	0.03%
ARCH	D	0.03%	0.47%	0.03%
AROC	B	0.11%	0.59%	0.11%
ASB	F	0.08%	0.23%	0.08%
ASH	F	0.08%	0.05%	0.05%
ASO	D	0.08%	0.24%	0.08%
ATKR	F	0.2%	0.36%	0.2%
AX	D	0.0%	0.49%	0.0%
AXS	A	0.01%	0.41%	0.01%
BANF	D	0.12%	0.0%	0.0%
BCC	C	0.23%	0.89%	0.23%
BKD	D	0.05%	0.07%	0.05%
BKE	D	0.12%	0.22%	0.12%
BKU	D	0.0%	0.34%	0.0%
BOH	D	0.0%	0.27%	0.0%
BPOP	D	0.57%	0.24%	0.24%
BRY	F	0.02%	0.06%	0.02%
CAKE	A	0.01%	0.29%	0.01%
CAL	F	0.09%	0.22%	0.09%
CARS	F	0.08%	0.12%	0.08%
CASH	D	0.0%	0.22%	0.0%
CBT	B	0.13%	0.83%	0.13%
CC	D	0.06%	0.22%	0.06%
CEIX	B	0.07%	0.48%	0.07%
CENTA	F	0.06%	0.23%	0.06%
CHCO	D	0.0%	0.04%	0.0%
CHX	D	0.12%	0.07%	0.07%
CLVT	D	0.04%	0.07%	0.04%
CMA	C	0.0%	0.02%	0.0%
CMC	D	0.14%	0.22%	0.14%
CNDT	B	0.02%	0.02%	0.02%
CNO	C	0.15%	0.54%	0.15%
CNX	A	0.05%	0.77%	0.05%
CRC	B	0.09%	0.67%	0.09%
CTBI	D	0.05%	0.09%	0.05%
CUBI	F	0.08%	0.2%	0.08%
CVBF	B	0.0%	0.03%	0.0%
CVI	F	0.04%	0.09%	0.04%
DAN	D	0.03%	0.26%	0.03%
DBI	F	0.03%	0.06%	0.03%
DDS	D	0.3%	0.07%	0.07%
DNOW	F	0.09%	0.11%	0.09%
EGBN	B	0.0%	0.08%	0.0%
EIG	B	0.07%	0.15%	0.07%
ENS	D	0.04%	0.3%	0.04%
FBP	D	0.21%	0.46%	0.21%
FL	F	0.03%	0.13%	0.03%
FLWS	F	0.01%	0.03%	0.01%
FULT	D	0.0%	0.35%	0.0%
FYBR	C	0.14%	0.3%	0.14%
GAP	F	0.23%	0.12%	0.12%
GATX	F	0.13%	0.86%	0.13%
GCO	F	0.07%	0.04%	0.04%
GDOT	C	0.0%	0.04%	0.0%
GES	F	0.19%	0.12%	0.12%
GIII	C	0.03%	0.25%	0.03%
GNW	C	0.0%	0.27%	0.0%
HCC	B	0.06%	0.66%	0.06%
HEES	D	0.07%	0.27%	0.07%
HMST	B	0.02%	0.02%	0.02%
HOG	D	0.19%	0.74%	0.19%
HOV	D	0.13%	0.15%	0.13%
HP	F	0.09%	0.45%	0.09%
HSII	C	0.26%	0.02%	0.02%
HTH	D	0.11%	0.07%	0.07%
HTZ	F	0.01%	0.04%	0.01%
HWC	D	0.07%	0.5%	0.07%
HWKN	A	0.06%	0.24%	0.06%
IBOC	D	0.09%	0.44%	0.09%
IDCC	A	0.07%	0.6%	0.07%
IESC	B	0.02%	0.05%	0.02%
IMKTA	F	0.26%	0.2%	0.2%
INVA	B	0.1%	0.11%	0.1%
JBSS	F	0.21%	0.06%	0.06%
JELD	D	0.03%	0.23%	0.03%
JXN	A	0.0%	0.84%	0.0%
KALU	D	0.01%	0.17%	0.01%
KFRC	F	0.18%	0.01%	0.01%
KFY	C	0.02%	0.03%	0.02%
KLG	D	0.04%	0.14%	0.04%
KLIC	D	0.11%	0.09%	0.09%
KNF	C	0.07%	0.01%	0.01%
KOS	F	0.05%	0.3%	0.05%
KRNY	C	0.02%	0.01%	0.01%
KSS	D	0.1%	0.47%	0.1%
LNTH	C	0.24%	0.01%	0.01%
LOVE	C	0.1%	0.07%	0.07%
LPG	F	0.05%	0.26%	0.05%
LPX	A	0.41%	0.29%	0.29%
LTH	C	0.03%	0.01%	0.01%
M	F	0.19%	0.59%	0.19%
MATV	F	0.1%	0.12%	0.1%
MATX	C	0.19%	0.91%	0.19%
MCB	B	0.09%	0.07%	0.07%
MCY	B	0.05%	0.06%	0.05%
MDU	C	0.06%	0.91%	0.06%
MED	F	0.07%	0.03%	0.03%
MERC	D	0.06%	0.02%	0.02%
MLI	C	0.41%	0.82%	0.41%
MRC	D	0.08%	0.14%	0.08%
MTG	B	0.1%	0.43%	0.1%
MTW	F	0.02%	0.01%	0.01%
MUR	F	0.2%	0.23%	0.2%
NAVI	D	0.2%	0.16%	0.16%
NBR	F	0.06%	0.09%	0.06%
NBTB	D	0.0%	0.09%	0.0%
NFBK	D	0.01%	0.05%	0.01%
NTB	D	0.07%	0.23%	0.07%
NUS	F	0.02%	0.03%	0.02%
NX	F	0.03%	0.15%	0.03%
ODP	F	0.14%	0.17%	0.14%
OFG	D	0.29%	0.29%	0.29%
OII	D	0.1%	0.36%	0.1%
OIS	F	0.01%	0.02%	0.01%
OLPX	C	0.02%	0.01%	0.01%
OMF	F	0.15%	0.15%	0.15%
OPEN	F	0.03%	0.24%	0.03%
OSCR	C	0.11%	0.04%	0.04%
OSUR	F	0.02%	0.06%	0.02%
OXM	F	0.07%	0.23%	0.07%
OZK	F	0.07%	0.5%	0.07%
PBF	F	0.02%	0.32%	0.02%
PDCO	F	0.03%	0.16%	0.03%
PFBC	D	0.0%	0.05%	0.0%
PFSI	C	0.05%	0.25%	0.05%
PHIN	C	0.08%	0.37%	0.08%
PII	D	0.02%	0.38%	0.02%
PLUS	C	0.09%	0.39%	0.09%
POWL	A	0.29%	0.4%	0.29%
PRDO	D	0.0%	0.21%	0.0%
PRG	C	0.18%	0.18%	0.18%
PTEN	F	0.11%	0.41%	0.11%
PVH	F	0.17%	0.05%	0.05%
R	C	0.26%	0.73%	0.26%
RDN	D	0.0%	0.71%	0.0%
RIG	F	0.07%	0.12%	0.07%
RYI	F	0.03%	0.11%	0.03%
SANM	D	0.2%	0.39%	0.2%
SATS	C	0.16%	0.48%	0.16%
SCS	D	0.08%	0.22%	0.08%
SF	A	0.15%	0.06%	0.06%
SFBS	D	0.12%	0.08%	0.08%
SFL	D	0.07%	0.24%	0.07%
SFM	A	0.48%	0.59%	0.48%
SGH	D	0.03%	0.15%	0.03%
SIG	C	0.28%	0.62%	0.28%
SLM	C	0.16%	0.7%	0.16%
SLVM	C	0.02%	0.45%	0.02%
SM	F	0.07%	0.78%	0.07%
SNEX	C	0.07%	0.3%	0.07%
SNV	D	0.04%	0.32%	0.04%
SONO	D	0.04%	0.01%	0.01%
SRCE	D	0.14%	0.03%	0.03%
STRL	B	0.24%	0.26%	0.24%
SUPN	D	0.02%	0.18%	0.02%
SWIM	B	0.03%	0.02%	0.02%
TBBK	C	0.0%	0.34%	0.0%
TCBI	C	0.03%	0.28%	0.03%
TDS	B	0.04%	0.44%	0.04%
TEX	F	0.19%	0.55%	0.19%
THO	B	0.13%	0.59%	0.13%
TILE	C	0.04%	0.2%	0.04%
TMHC	C	0.1%	0.28%	0.1%
TNC	F	0.07%	0.07%	0.07%
TPH	C	0.16%	0.48%	0.16%
TRMK	D	0.0%	0.18%	0.0%
TRN	C	0.06%	0.35%	0.06%
UA	B	0.14%	0.04%	0.04%
UFPI	C	0.24%	0.08%	0.08%
UMBF	C	0.12%	0.54%	0.12%
UNFI	B	0.01%	0.16%	0.01%
USNA	F	0.02%	0.05%	0.02%
UVE	C	0.03%	0.07%	0.03%
VC	F	0.08%	0.24%	0.08%
VITL	B	0.04%	0.0%	0.0%
VNDA	F	0.03%	0.01%	0.01%
VSH	F	0.11%	0.42%	0.11%
VSTO	D	0.13%	0.4%	0.13%
WAFD	D	0.12%	0.32%	0.12%
WAL	C	0.1%	0.12%	0.1%
WD	C	0.03%	0.36%	0.03%
WGO	D	0.05%	0.2%	0.05%
WNC	F	0.08%	0.15%	0.08%
WOR	F	0.08%	0.16%	0.08%
WTFC	D	0.02%	0.25%	0.02%
WTM	D	0.15%	0.05%	0.05%
WTTR	C	0.05%	0.18%	0.05%
XPRO	F	0.01%	0.04%	0.01%
ZION	D	0.2%	0.08%	0.08%

SMLF Overweight 611 Positions Relative to AVUV

Symbol	Grade	Weight
EME	C	0.84%
EVR	C	0.72%
APP	A	0.7%
DECK	B	0.68%
JBL	D	0.55%
MANH	C	0.53%
WSM	B	0.52%
NTNX	C	0.5%
NVT	D	0.5%
RS	D	0.48%
ALSN	A	0.48%
WING	B	0.47%
SLG	C	0.46%
HRB	C	0.45%
AXON	A	0.45%
IDA	C	0.43%
CSL	A	0.42%
DKS	D	0.42%
FIX	A	0.41%
ORI	B	0.41%
CNM	F	0.41%
MSTR	B	0.41%
MEDP	F	0.4%
DUOL	B	0.4%
IOT	C	0.4%
VNO	A	0.4%
COOP	B	0.4%
COCO	C	0.39%
PCOR	D	0.38%
IBKR	A	0.37%
LBRDA	B	0.37%
BRX	C	0.37%
WFRD	F	0.37%
UTHR	C	0.37%
LAMR	C	0.36%
FR	C	0.35%
NTRA	A	0.35%
CR	B	0.34%
CHE	C	0.34%
CVNA	A	0.34%
GTLB	D	0.34%
TTEK	B	0.34%
JEF	A	0.34%
VGR	B	0.33%
SOLV	C	0.33%
THC	C	0.33%
CAVA	C	0.32%
EWBC	D	0.32%
ITT	B	0.32%
AYI	A	0.31%
WSO	C	0.31%
MAC	C	0.31%
WK	D	0.31%
XRAY	D	0.31%
GGG	B	0.31%
SN	B	0.3%
PIPR	B	0.3%
PSTG	F	0.3%
SPXC	C	0.3%
CROX	C	0.29%
MOD	B	0.29%
FLEX	C	0.29%
YOU	C	0.29%
GPK	C	0.28%
SMAR	A	0.27%
HALO	D	0.27%
JHG	C	0.27%
ENTG	D	0.27%
AN	C	0.27%
TPR	B	0.26%
PRI	A	0.26%
CHK	D	0.26%
AMH	D	0.26%
LBTYA	A	0.26%
FCNCA	D	0.25%
TPX	C	0.25%
APA	F	0.25%
COKE	B	0.25%
CORT	B	0.25%
LSCC	D	0.25%
BLD	C	0.25%
HURN	D	0.24%
TREX	D	0.24%
SMG	A	0.23%
XRX	D	0.23%
AMG	B	0.23%
ETSY	F	0.23%
RNR	A	0.23%
HAS	A	0.23%
JOE	D	0.23%
W	D	0.23%
INTA	C	0.23%
SKT	A	0.23%
SRPT	F	0.23%
ESTC	F	0.23%
ARW	C	0.22%
AXSM	B	0.22%
AZPN	C	0.22%
DNLI	C	0.22%
BBWI	F	0.22%
AGCO	D	0.22%
OVV	F	0.22%
CPRX	C	0.22%
LIVN	B	0.21%
ONTO	B	0.21%
CBSH	D	0.21%
RPM	A	0.21%
AR	B	0.21%
CFR	D	0.21%
GPI	C	0.21%
CW	A	0.21%
HIW	C	0.2%
RMBS	F	0.2%
GLPI	A	0.2%
TKR	D	0.2%
RRX	C	0.2%
EXLS	A	0.2%
AGNC	C	0.19%
HAE	D	0.19%
RRC	D	0.19%
TPG	B	0.19%
EXEL	B	0.19%
NDSN	B	0.19%
ELF	F	0.19%
BRKR	D	0.19%
AVNT	C	0.19%
ACM	C	0.19%
LNW	F	0.18%
TDOC	D	0.18%
CWEN	C	0.18%
FROG	F	0.18%
WS	D	0.18%
BRC	C	0.18%
KNSL	D	0.18%
LUMN	C	0.18%
PRGS	B	0.18%
PDM	C	0.18%
DCI	B	0.18%
ALLE	A	0.17%
AIZ	A	0.17%
VOYA	A	0.17%
ATI	B	0.17%
RNG	F	0.17%
OC	C	0.17%
PI	B	0.17%
VCYT	C	0.17%
PGRE	D	0.17%
EXTR	C	0.17%
USFD	C	0.17%
TOL	A	0.17%
ACLS	F	0.17%
FAF	B	0.17%
WCC	C	0.17%
KRG	C	0.17%
TTC	D	0.16%
CVCO	B	0.16%
BJ	D	0.16%
TOST	C	0.16%
SKY	B	0.16%
IGT	F	0.16%
ESAB	C	0.16%
HLI	C	0.16%
IONS	F	0.16%
PRKS	D	0.16%
SSD	B	0.16%
SPB	C	0.16%
MMYT	D	0.16%
RHI	D	0.16%
SQSP	A	0.16%
BMI	A	0.16%
DTM	A	0.16%
NJR	C	0.15%
TNL	B	0.15%
RL	B	0.15%
ABG	D	0.15%
AY	C	0.15%
NOVT	C	0.15%
ONON	C	0.15%
KIM	C	0.15%
SPT	F	0.15%
IVT	C	0.15%
ACLX	C	0.15%
GH	F	0.15%
NUVL	B	0.15%
ESI	B	0.15%
TNET	F	0.14%
OGS	C	0.14%
BSY	D	0.14%
NSP	F	0.14%
MMSI	C	0.14%
SCI	C	0.14%
GME	F	0.14%
CRUS	D	0.14%
LRN	C	0.14%
BL	D	0.14%
RGLD	C	0.14%
INSP	B	0.14%
SBGI	B	0.14%
ENSG	D	0.14%
SPSC	D	0.13%
OGE	A	0.13%
BRZE	F	0.13%
YEXT	B	0.13%
KRC	C	0.13%
VECO	F	0.13%
NOV	F	0.13%
BPMC	F	0.13%
GNRC	B	0.13%
WTS	C	0.13%
NYT	A	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%
BLKB	C	0.13%
MFA	C	0.13%
KBR	C	0.13%
NFG	A	0.13%
XPO	F	0.13%
WMS	D	0.13%
VMI	B	0.13%
XNCR	D	0.13%
AA	B	0.13%
GFF	C	0.12%
OLN	D	0.12%
VRNS	C	0.12%
BWXT	A	0.12%
PCTY	B	0.12%
ALX	C	0.12%
KAI	C	0.12%
NNN	A	0.12%
QLYS	F	0.12%
LILA	B	0.12%
AWR	A	0.12%
BCRX	D	0.12%
MAT	D	0.12%
DFIN	C	0.12%
WEN	D	0.12%
SR	C	0.12%
NTCT	B	0.11%
ACAD	F	0.11%
SON	D	0.11%
EXPI	C	0.11%
PNM	B	0.11%
AIT	B	0.11%
CMPR	F	0.11%
WH	C	0.11%
BAND	D	0.11%
SYNA	D	0.11%
PARA	F	0.11%
CYTK	F	0.11%
UGI	C	0.11%
INSM	D	0.11%
ICFI	C	0.11%
BERY	C	0.11%
PCVX	B	0.11%
COUR	F	0.11%
OPCH	F	0.11%
EXPO	A	0.11%
WEX	C	0.11%
NSSC	F	0.1%
MTRN	F	0.1%
UPBD	F	0.1%
CARG	C	0.1%
SAIA	D	0.1%
OHI	C	0.1%
FHI	C	0.1%
BASE	F	0.1%
WSC	D	0.1%
BC	D	0.1%
NYCB	D	0.1%
KW	B	0.1%
IVZ	A	0.1%
SWN	D	0.1%
X	F	0.1%
LSTR	D	0.1%
LAZ	C	0.1%
EGP	D	0.1%
VMEO	C	0.1%
RDDT	B	0.1%
APG	F	0.09%
BDC	B	0.09%
MPW	C	0.09%
CACC	F	0.09%
LBTYK	A	0.09%
HASI	C	0.09%
EEFT	F	0.09%
NSIT	B	0.09%
YETI	B	0.09%
BECN	F	0.09%
JACK	F	0.09%
CXT	F	0.09%
SITC	F	0.09%
MIDD	D	0.09%
ACA	C	0.09%
CRS	C	0.09%
MTN	D	0.09%
HIMS	B	0.09%
CHDN	D	0.09%
LYFT	D	0.08%
TENB	F	0.08%
HI	F	0.08%
LZ	F	0.08%
FLR	D	0.08%
GMS	C	0.08%
CRDO	B	0.08%
LXP	D	0.08%
BCO	C	0.08%
CAR	D	0.08%
FLNC	C	0.08%
PD	F	0.08%
LGND	D	0.08%
NXST	D	0.08%
PBH	D	0.08%
ILPT	D	0.08%
MTSI	B	0.08%
ATEN	B	0.08%
PNFP	D	0.08%
PLNT	B	0.08%
CSWI	B	0.08%
DVAX	D	0.08%
MKSI	F	0.08%
BOX	C	0.08%
KN	C	0.08%
CUZ	C	0.08%
VFC	B	0.08%
VERA	C	0.08%
MDGL	F	0.08%
TGNA	B	0.08%
RGEN	F	0.08%
ELAN	D	0.08%
ALV	F	0.08%
ADEA	C	0.07%
CLH	C	0.07%
BLMN	F	0.07%
OTTR	F	0.07%
TXRH	A	0.07%
APPF	C	0.07%
PEGA	B	0.07%
AZEK	C	0.07%
UVV	D	0.07%
ANAB	D	0.07%
WLY	A	0.07%
SANA	F	0.07%
FLO	D	0.07%
ANGI	D	0.07%
HE	F	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%
RYN	C	0.07%
MASI	B	0.07%
CXW	F	0.07%
AIV	C	0.07%
VIR	F	0.07%
CNMD	D	0.07%
VKTX	C	0.07%
CVLT	C	0.07%
UNIT	B	0.07%
ACHC	F	0.07%
WYNN	B	0.07%
COTY	F	0.07%
POR	C	0.07%
PK	D	0.06%
GPMT	D	0.06%
FN	B	0.06%
WBA	F	0.06%
NVST	D	0.06%
YELP	D	0.06%
APLS	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%
OMI	F	0.06%
AMLX	D	0.06%
AMN	F	0.06%
GEO	F	0.06%
LADR	D	0.06%
DOMO	F	0.06%
AMRX	B	0.06%
ADMA	C	0.06%
NARI	F	0.06%
AMPL	D	0.06%
EPAC	C	0.06%
STWD	C	0.06%
AVDX	F	0.05%
ITGR	C	0.05%
RCUS	F	0.05%
OLED	C	0.05%
ITRI	C	0.05%
MAN	D	0.05%
ASAN	F	0.05%
BCPC	C	0.05%
VNT	F	0.05%
ACI	F	0.05%
AVAV	B	0.05%
EHC	B	0.05%
BEAM	F	0.05%
CERS	F	0.05%
NHI	C	0.05%
RKT	C	0.05%
FOLD	F	0.05%
ITCI	D	0.05%
BRBR	C	0.05%
S	C	0.05%
LECO	D	0.05%
ZIP	D	0.05%
SMTC	C	0.05%
MMS	B	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	B	0.05%
THR	F	0.05%
SITE	D	0.05%
PZZA	D	0.05%
KD	F	0.05%
IRTC	F	0.05%
MDXG	F	0.04%
OI	D	0.04%
SPRY	B	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%
TARS	C	0.04%
CGEM	F	0.04%
SOFI	C	0.04%
SAH	D	0.04%
ARRY	F	0.04%
CFFN	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	B	0.04%
HSTM	B	0.04%
HELE	D	0.04%
NATL	D	0.04%
SNBR	C	0.04%
EVH	D	0.04%
SVC	F	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%
ROKU	C	0.04%
IOSP	F	0.04%
QRTEA	F	0.03%
MOG.A	A	0.03%
TSE	B	0.03%
ALRM	F	0.03%
CIEN	A	0.03%
OFIX	D	0.03%
ATRC	C	0.03%
DNB	D	0.03%
VIRT	B	0.03%
MGNI	D	0.03%
ADT	D	0.03%
SNDX	F	0.03%
BILL	D	0.03%
EVTC	D	0.03%
CHRD	F	0.03%
RGNX	F	0.03%
EMBC	F	0.03%
REVG	D	0.03%
TWO	D	0.03%
BRSP	D	0.03%
UDMY	F	0.03%
CHWY	C	0.03%
TLRY	F	0.03%
TPB	A	0.03%
XHR	B	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%
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%
NTLA	F	0.02%
OSIS	B	0.02%
SHO	D	0.02%
MSM	D	0.02%
RAMP	F	0.02%
KVYO	B	0.02%
BMBL	F	0.02%
CACI	A	0.02%
WOOF	A	0.02%
NWL	D	0.02%
HAIN	B	0.02%
VSTS	D	0.02%
EDR	A	0.02%
LMAT	B	0.02%
GPRO	D	0.02%
DYN	D	0.02%
MSA	F	0.02%
EVRI	A	0.02%
PR	F	0.02%
ARCT	D	0.02%
IRWD	F	0.02%
RLJ	D	0.02%
DOCN	C	0.02%
PTCT	C	0.02%
FSS	B	0.02%
AKRO	C	0.02%
EPR	C	0.02%
TGTX	C	0.02%
DY	C	0.02%
JANX	D	0.02%
CRSP	F	0.02%
GMED	D	0.02%
LANC	F	0.02%
ALHC	B	0.02%
VCEL	F	0.02%
VIAV	B	0.02%
AXTA	C	0.02%
SAFE	C	0.02%
CWK	C	0.01%
SFIX	F	0.01%
RBRK	F	0.01%
JOBY	D	0.01%
ZUO	F	0.01%
DINO	F	0.01%
MITK	F	0.01%
VAL	F	0.01%
PGEN	F	0.01%
AIN	F	0.01%
TTGT	F	0.01%
SWI	C	0.01%
ARR	D	0.01%
OMER	D	0.01%
BIGC	F	0.01%
GO	F	0.01%
CRAI	C	0.01%
PCH	C	0.01%
EPC	F	0.01%
PEB	D	0.01%
POWI	F	0.01%
TDC	D	0.01%
ALGM	F	0.01%
ENVA	D	0.01%
JAMF	F	0.01%
HQY	C	0.01%
UTL	C	0.01%
UPWK	D	0.01%
WTI	D	0.01%
BKH	C	0.01%
MBC	C	0.01%
VRE	C	0.01%
NWN	C	0.01%
TR	D	0.01%
NGVT	D	0.01%
BSIG	D	0.01%
PYCR	D	0.01%
ROIV	D	0.01%
SWX	C	0.01%
HCAT	C	0.01%
SWTX	F	0.01%
ENR	B	0.01%
STGW	B	0.01%
MLAB	B	0.01%
ALAB	D	0.01%
GEF	D	0.01%
GWRE	A	0.01%
BYD	C	0.01%
MBLY	F	0.01%
RHP	C	0.01%
NEXA	B	0.01%
ASGN	D	0.01%
AEIS	F	0.01%
RXT	C	0.01%
HXL	F	0.01%
SSB	C	0.01%
HYFM	D	0.0%
BFH	D	0.0%
MC	C	0.0%
SEE	C	0.0%
HPP	F	0.0%
UNM	A	0.0%
DEI	A	0.0%
BDN	A	0.0%

SMLF Underweight 507 Positions Relative to AVUV

Symbol	Grade	Weight
ALK	B	-0.85%
AL	D	-0.81%
MHO	C	-0.8%
KBH	C	-0.77%
MGY	B	-0.69%
SKYW	B	-0.68%
HRI	C	-0.67%
STNG	D	-0.66%
DXC	D	-0.65%
NOG	F	-0.59%
LBRT	F	-0.58%
BTU	B	-0.58%
CALM	B	-0.54%
AVT	C	-0.51%
GT	F	-0.49%
URBN	F	-0.48%
INSW	B	-0.48%
NMIH	C	-0.45%
COLB	C	-0.44%
BHF	F	-0.42%
WERN	D	-0.41%
LCII	B	-0.4%
HUBG	D	-0.4%
PSMT	B	-0.39%
CRI	D	-0.39%
ONB	D	-0.39%
COLM	B	-0.37%
CATY	D	-0.37%
KMT	C	-0.36%
JWN	D	-0.36%
VLY	C	-0.35%
ANDE	D	-0.33%
JBLU	B	-0.32%
ESGR	D	-0.32%
TNK	B	-0.31%
PINC	F	-0.3%
FNB	D	-0.29%
PLAB	D	-0.29%
LZB	C	-0.29%
MARA	F	-0.28%
BHE	C	-0.27%
GBX	C	-0.27%
WSFS	D	-0.27%
HLX	D	-0.27%
ESNT	C	-0.27%
BANR	C	-0.25%
TALO	F	-0.24%
ABCB	C	-0.24%
DHT	B	-0.24%
PLXS	B	-0.23%
EFSC	D	-0.23%
CRGY	B	-0.22%
AAP	F	-0.22%
ATSG	B	-0.21%
SPNT	D	-0.21%
SCSC	D	-0.2%
MTH	C	-0.2%
FCF	D	-0.2%
DIOD	F	-0.2%
HRMY	D	-0.2%
TTMI	D	-0.19%
BXC	D	-0.19%
CRK	B	-0.19%
HHH	C	-0.19%
MRTN	F	-0.18%
WMK	D	-0.18%
STBA	D	-0.18%
MCRI	B	-0.18%
SCL	D	-0.18%
GLNG	A	-0.18%
KRP	B	-0.18%
CIVI	F	-0.17%
BUSE	D	-0.17%
OEC	F	-0.17%
SASR	C	-0.17%
HOPE	D	-0.17%
TPC	A	-0.17%
GVA	A	-0.17%
ASC	D	-0.16%
USM	C	-0.16%
ALGT	D	-0.16%
CBRL	D	-0.16%
SNDR	C	-0.16%
PARR	F	-0.16%
WABC	F	-0.16%
DOLE	C	-0.16%
SXC	F	-0.15%
GNK	B	-0.15%
AMRC	C	-0.15%
IRDM	B	-0.15%
QCRH	D	-0.15%
BELFB	B	-0.15%
PFS	D	-0.14%
SCVL	D	-0.14%
GRBK	C	-0.14%
BANC	D	-0.14%
FDP	C	-0.14%
TOWN	D	-0.14%
ETH	F	-0.13%
HTLF	C	-0.13%
MBUU	D	-0.13%
ACT	C	-0.13%
TROX	D	-0.13%
AXL	F	-0.13%
INDB	D	-0.13%
PUMP	F	-0.13%
PLYA	D	-0.13%
CNXN	C	-0.13%
STNE	F	-0.13%
PAGS	F	-0.12%
MTDR	F	-0.12%
ASIX	A	-0.12%
PEBO	F	-0.12%
OCFC	C	-0.12%
GPOR	B	-0.12%
EGY	D	-0.12%
DCOM	C	-0.12%
PATK	C	-0.12%
BJRI	D	-0.12%
PPBI	F	-0.12%
SPTN	B	-0.12%
CLW	F	-0.11%
CNOB	C	-0.11%
FRME	D	-0.11%
TK	B	-0.11%
MTUS	F	-0.11%
NAT	D	-0.11%
LC	B	-0.11%
PLMR	C	-0.11%
ENLC	A	-0.11%
NBHC	D	-0.11%
BGS	D	-0.11%
NWBI	D	-0.11%
TCBK	D	-0.11%
MBIN	D	-0.11%
VBTX	C	-0.11%
CABO	F	-0.1%
DAKT	D	-0.1%
SWBI	F	-0.1%
VTOL	D	-0.1%
BHLB	D	-0.1%
PTGX	C	-0.1%
REX	D	-0.1%
RYAM	B	-0.1%
NR	F	-0.1%
CPF	C	-0.1%
IIIN	F	-0.1%
CDE	C	-0.1%
BRKL	D	-0.1%
RES	D	-0.1%
OBK	F	-0.1%
KELYA	D	-0.1%
PFC	D	-0.1%
SCHL	F	-0.1%
FOR	D	-0.1%
CMRE	B	-0.09%
CFB	D	-0.09%
SEB	D	-0.09%
HY	F	-0.09%
OSBC	D	-0.09%
NNI	C	-0.09%
AMKR	F	-0.09%
HCI	B	-0.09%
MBWM	D	-0.09%
AMAL	D	-0.09%
BY	D	-0.09%
FMBH	D	-0.09%
IBCP	D	-0.09%
UVSP	D	-0.09%
HTLD	F	-0.08%
ZEUS	F	-0.08%
LMB	B	-0.08%
EBS	D	-0.08%
SGHC	B	-0.08%
UTI	D	-0.08%
RDUS	D	-0.08%
SYBT	D	-0.08%
CCRN	F	-0.08%
SMP	D	-0.08%
RBCAA	D	-0.07%
VRTS	F	-0.07%
NGVC	C	-0.07%
ARHS	F	-0.07%
GLDD	B	-0.07%
EBF	C	-0.07%
FBMS	D	-0.07%
GSBC	D	-0.07%
NTGR	C	-0.07%
BFST	C	-0.07%
NBN	B	-0.07%
SBLK	B	-0.07%
PAHC	C	-0.07%
CENX	B	-0.07%
SNCY	D	-0.07%
LXU	B	-0.07%
HAFC	D	-0.07%
BBW	B	-0.07%
UAA	B	-0.07%
TRST	D	-0.07%
ULH	C	-0.06%
METC	D	-0.06%
ESQ	C	-0.06%
ODC	D	-0.06%
HPK	F	-0.06%
THFF	D	-0.06%
CVEO	C	-0.06%
MCS	A	-0.06%
ANET	A	-0.06%
CCNE	D	-0.06%
SMBC	C	-0.06%
THRM	F	-0.06%
GDEN	D	-0.06%
CVGW	B	-0.06%
VSAT	F	-0.06%
MSBI	F	-0.06%
HTBI	D	-0.06%
ATNI	B	-0.06%
HVT	F	-0.06%
SB	B	-0.06%
SD	F	-0.06%
WASH	D	-0.06%
GRNT	F	-0.06%
HTBK	D	-0.06%
NRIM	C	-0.05%
SBSI	D	-0.05%
REPX	C	-0.05%
GHC	B	-0.05%
MOV	F	-0.05%
FG	B	-0.05%
IBTX	D	-0.05%
BHB	D	-0.05%
SKWD	B	-0.05%
MCFT	F	-0.05%
AMTB	F	-0.05%
ORRF	C	-0.05%
FISI	D	-0.05%
SIGA	F	-0.05%
HBNC	D	-0.05%
CCB	C	-0.05%
CAC	C	-0.05%
TGLS	A	-0.05%
HRTG	D	-0.05%
AOSL	D	-0.05%
OPY	D	-0.05%
CLF	D	-0.05%
USAP	C	-0.05%
AROW	D	-0.05%
PGC	D	-0.05%
TWI	F	-0.05%
GLRE	D	-0.04%
CARE	C	-0.04%
HNRG	C	-0.04%
GPRE	F	-0.04%
RCKY	B	-0.04%
IMMR	D	-0.04%
VPG	F	-0.04%
MPB	C	-0.04%
LXFR	C	-0.04%
CENT	F	-0.04%
PANL	D	-0.04%
CRCT	C	-0.04%
MCBS	D	-0.04%
MYE	F	-0.04%
FNKO	C	-0.04%
BVS	B	-0.04%
NWPX	C	-0.04%
SMBK	C	-0.04%
RGR	F	-0.04%
APEI	F	-0.04%
SPFI	D	-0.04%
RBB	D	-0.04%
VLGEA	C	-0.04%
FFIC	D	-0.04%
ZIMV	F	-0.04%
KE	F	-0.04%
SHBI	D	-0.03%
NATR	F	-0.03%
TH	F	-0.03%
RNGR	C	-0.03%
RM	C	-0.03%
BWB	D	-0.03%
DXLG	F	-0.03%
TBI	F	-0.03%
REI	F	-0.03%
MEI	D	-0.03%
IPI	C	-0.03%
PKOH	B	-0.03%
KRT	F	-0.03%
MOFG	D	-0.03%
DHIL	C	-0.03%
HFWA	D	-0.03%
SHEN	F	-0.03%
UCBI	B	-0.03%
USLM	C	-0.03%
EBC	D	-0.03%
LOB	C	-0.03%
CHUY	B	-0.03%
SGC	D	-0.03%
HBB	B	-0.03%
FLIC	C	-0.03%
LYTS	B	-0.03%
EZPW	D	-0.03%
WRLD	D	-0.03%
AMPY	D	-0.03%
VIRC	D	-0.03%
CCBG	D	-0.03%
SFNC	C	-0.03%
LKFN	F	-0.03%
JAKK	C	-0.03%
FIGS	B	-0.03%
FBK	D	-0.03%
HDSN	D	-0.03%
LE	C	-0.03%
FSBC	D	-0.03%
WTBA	D	-0.02%
EPM	B	-0.02%
MEC	B	-0.02%
BMRC	D	-0.02%
FSTR	D	-0.02%
HIFS	D	-0.02%
TG	C	-0.02%
THG	C	-0.02%
FBNC	D	-0.02%
FFBC	D	-0.02%
WLFC	A	-0.02%
HBT	D	-0.02%
PUBM	F	-0.02%
VRA	F	-0.02%
FFWM	F	-0.02%
SFST	C	-0.02%
CASS	D	-0.02%
ACDC	D	-0.02%
INBK	D	-0.02%
FRBA	D	-0.02%
LEGH	C	-0.02%
TTI	D	-0.02%
CVGI	F	-0.02%
KODK	D	-0.02%
RMAX	C	-0.02%
ALRS	C	-0.02%
SRI	F	-0.02%
ORN	F	-0.02%
TAYD	D	-0.02%
FLXS	C	-0.02%
FIBK	D	-0.02%
BSRR	D	-0.02%
PRA	B	-0.02%
FBIZ	D	-0.02%
FSBW	D	-0.02%
SAFT	D	-0.02%
ACIC	F	-0.02%
ANIP	F	-0.02%
CMT	F	-0.02%
HONE	D	-0.02%
HOFT	D	-0.02%
TMP	D	-0.02%
FMNB	D	-0.02%
EQBK	D	-0.02%
ACNB	C	-0.02%
EVC	D	-0.01%
PWOD	A	-0.01%
XBIT	B	-0.01%
UBFO	B	-0.01%
BOOM	D	-0.01%
MPX	D	-0.01%
UFCS	D	-0.01%
LFVN	C	-0.01%
KEQU	F	-0.01%
ISTR	C	-0.01%
OPBK	D	-0.01%
BSET	D	-0.01%
GIC	D	-0.01%
STKS	F	-0.01%
KLXE	F	-0.01%
FCBC	D	-0.01%
TSBK	D	-0.01%
ATLC	C	-0.01%
CBNK	D	-0.01%
NC	F	-0.01%
LWAY	B	-0.01%
FRST	D	-0.01%
BWFG	C	-0.01%
GABC	D	-0.01%
PTSI	F	-0.01%
GHM	D	-0.01%
EVBN	C	-0.01%
IBEX	C	-0.01%
FUNC	C	-0.01%
KRO	B	-0.01%
CBAN	C	-0.01%
BCML	C	-0.01%
MPAA	D	-0.01%
GEOS	D	-0.01%
VEL	C	-0.01%
METCB	D	-0.01%
LSEA	D	-0.01%
LCUT	F	-0.01%
ALTG	F	-0.01%
PKBK	C	-0.01%
AMSF	B	-0.01%
ACTG	F	-0.01%
ITIC	C	-0.01%
GNTY	D	-0.01%
EBTC	C	-0.01%
ESOA	C	-0.01%
JRVR	F	-0.01%
MFIN	D	-0.01%
BELFA	A	-0.01%
NGS	D	-0.01%
FLL	F	-0.01%
TTSH	D	-0.01%
OBT	D	-0.01%
PCB	D	-0.01%
LNN	C	-0.01%
ACU	D	-0.01%
FF	B	-0.01%
MVBF	F	-0.01%
RLGT	C	-0.01%
MWA	A	-0.01%
TCBX	C	-0.01%
MNTK	D	-0.01%
RICK	F	-0.01%
CIVB	C	-0.01%
CLAR	F	-0.01%
UEIC	F	-0.01%
PBYI	F	-0.01%
MYRG	F	-0.01%
WSBF	D	-0.01%
UNTY	D	-0.01%
HBCP	D	-0.01%
BCBP	D	-0.01%
IMXI	F	-0.01%
BFC	D	-0.01%
NNBR	B	-0.01%
PLPC	D	-0.01%
CPHC	F	-0.0%
MRBK	B	-0.0%
NKSH	D	-0.0%
MTRX	B	-0.0%
SRTS	D	-0.0%
WNEB	C	-0.0%
MNSB	D	-0.0%
KVHI	B	-0.0%
PLBC	D	-0.0%
FGBI	C	-0.0%
ESCA	D	-0.0%
CMLS	F	-0.0%
MYFW	C	-0.0%
UTMD	F	-0.0%
CNTY	D	-0.0%
LAKE	D	-0.0%
ATLO	F	-0.0%
VABK	C	-0.0%
FDBC	D	-0.0%
ECPG	F	-0.0%
PVBC	D	-0.0%
WOW	D	-0.0%
AOUT	B	-0.0%
BCAL	F	-0.0%
PHX	C	-0.0%
PNRG	B	-0.0%
KINS	C	-0.0%
WEYS	C	-0.0%
SPWH	D	-0.0%
MYPS	F	-0.0%
OB	D	-0.0%
ZUMZ	D	-0.0%
AVO	C	-0.0%
NWFL	D	-0.0%
LPRO	D	-0.0%
DLTH	D	-0.0%
CZFS	C	-0.0%
CSPI	F	-0.0%
PYXS	F	-0.0%
COFS	C	-0.0%
NIC	D	-0.0%
UFI	C	-0.0%
RRBI	D	-0.0%
TBNK	C	-0.0%
QUAD	D	-0.0%
CCRD	C	-0.0%
FVCB	C	-0.0%
CRD.B	B	-0.0%
CHMG	C	-0.0%
HMN	B	-0.0%
VHI	B	-0.0%
CATO	D	-0.0%
PFIS	D	-0.0%
PEBK	F	-0.0%
ASTE	F	-0.0%
CFFI	C	-0.0%
EPSN	A	-0.0%
SEG	D	-0.0%
OVLY	D	-0.0%
FNLC	D	-0.0%
CBFV	C	-0.0%
HWBK	C	-0.0%
FONR	F	-0.0%
RVSB	B	-0.0%
FET	F	-0.0%
EML	B	-0.0%
NEU	F	-0.0%
FRAF	D	-0.0%
TWIN	F	-0.0%
CPSS	C	-0.0%
BSVN	D	-0.0%
BFIN	C	-0.0%