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

$73.10

Average Daily Volume

70,611

Number of Holdings ^*

810

* 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

$104.37

Average Daily Volume

777,280

Number of Holdings ^*

717

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	AVUV
30 Days	7.55%	7.10%
60 Days	8.72%	7.60%
90 Days	9.84%	7.64%
12 Months	38.08%	30.52%

203 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in AVUV	Overlap
ACCO	C	0.13%	0.06%	0.06%
AEO	F	0.05%	0.54%	0.05%
AGM	B	0.1%	0.23%	0.1%
AGO	B	0.27%	0.45%	0.27%
AGX	B	0.08%	0.36%	0.08%
AIN	C	0.01%	0.0%	0.0%
ALIT	C	0.09%	0.08%	0.08%
ALKS	C	0.3%	0.39%	0.3%
AM	A	0.37%	0.14%	0.14%
AMBC	C	0.05%	0.06%	0.05%
AMCX	C	0.06%	0.04%	0.04%
AMPH	F	0.07%	0.12%	0.07%
AMR	C	0.14%	0.46%	0.14%
ANF	F	0.3%	0.42%	0.3%
APOG	C	0.11%	0.3%	0.11%
ARCB	C	0.02%	0.36%	0.02%
ARCH	B	0.03%	0.53%	0.03%
AROC	A	0.12%	0.65%	0.12%
ASB	B	0.1%	0.27%	0.1%
ASH	F	0.07%	0.04%	0.04%
ASO	F	0.06%	0.24%	0.06%
ATKR	D	0.2%	0.37%	0.2%
AX	B	0.0%	0.59%	0.0%
AXS	A	0.01%	0.39%	0.01%
BANF	B	0.14%	0.0%	0.0%
BCC	B	0.22%	0.83%	0.22%
BFH	C	0.0%	0.42%	0.0%
BKD	F	0.03%	0.05%	0.03%
BKE	B	0.12%	0.23%	0.12%
BKU	A	0.0%	0.35%	0.0%
BOH	B	0.0%	0.3%	0.0%
BPOP	C	0.53%	0.21%	0.21%
BRY	F	0.02%	0.05%	0.02%
CAKE	C	0.01%	0.32%	0.01%
CAL	F	0.08%	0.19%	0.08%
CARS	C	0.08%	0.12%	0.08%
CASH	B	0.0%	0.25%	0.0%
CBT	D	0.12%	0.74%	0.12%
CC	C	0.06%	0.17%	0.06%
CEIX	A	0.07%	0.53%	0.07%
CENTA	C	0.05%	0.22%	0.05%
CHCO	B	0.0%	0.04%	0.0%
CHX	C	0.11%	0.08%	0.08%
CLVT	D	0.02%	0.08%	0.02%
CMA	B	0.0%	0.02%	0.0%
CMC	B	0.14%	0.22%	0.14%
CNDT	C	0.02%	0.03%	0.02%
CNO	B	0.16%	0.58%	0.16%
CNX	A	0.06%	0.78%	0.06%
CRC	A	0.1%	0.72%	0.1%
CTBI	B	0.06%	0.11%	0.06%
CUBI	B	0.09%	0.23%	0.09%
CVBF	A	0.05%	0.04%	0.04%
CVI	F	0.03%	0.07%	0.03%
DAN	D	0.02%	0.2%	0.02%
DBI	F	0.02%	0.04%	0.02%
DDS	B	0.31%	0.06%	0.06%
DNOW	B	0.1%	0.11%	0.1%
EGBN	B	0.0%	0.09%	0.0%
EIG	B	0.0%	0.15%	0.0%
ENS	F	0.04%	0.26%	0.04%
FBP	C	0.0%	0.43%	0.0%
FL	F	0.03%	0.16%	0.03%
FLWS	D	0.01%	0.03%	0.01%
FULT	A	0.0%	0.33%	0.0%
FYBR	C	0.13%	0.25%	0.13%
GAP	C	0.23%	0.11%	0.11%
GATX	A	0.15%	0.91%	0.15%
GCO	C	0.07%	0.04%	0.04%
GDOT	D	0.0%	0.05%	0.0%
GES	F	0.15%	0.09%	0.09%
GIII	D	0.02%	0.23%	0.02%
GNW	A	0.0%	0.27%	0.0%
HCC	B	0.06%	0.64%	0.06%
HEES	C	0.09%	0.31%	0.09%
HMST	F	0.01%	0.01%	0.01%
HOG	D	0.15%	0.58%	0.15%
HOV	D	0.1%	0.08%	0.08%
HP	C	0.1%	0.51%	0.1%
HSII	B	0.31%	0.03%	0.03%
HTH	C	0.11%	0.06%	0.06%
HTZ	C	0.01%	0.04%	0.01%
HWC	B	0.08%	0.52%	0.08%
HWKN	B	0.06%	0.21%	0.06%
IBOC	B	0.11%	0.48%	0.11%
IDCC	B	0.09%	0.77%	0.09%
IESC	C	0.03%	0.06%	0.03%
IMKTA	C	0.24%	0.18%	0.18%
INVA	D	0.09%	0.12%	0.09%
JBSS	F	0.17%	0.05%	0.05%
JELD	F	0.02%	0.15%	0.02%
JXN	C	0.0%	0.9%	0.0%
KALU	C	0.01%	0.18%	0.01%
KFRC	D	0.16%	0.01%	0.01%
KLG	B	0.04%	0.12%	0.04%
KLIC	B	0.1%	0.08%	0.08%
KNF	B	0.07%	0.01%	0.01%
KOS	D	0.05%	0.29%	0.05%
KRNY	C	0.02%	0.01%	0.01%
KSS	F	0.08%	0.39%	0.08%
LNTH	D	0.17%	0.01%	0.01%
LOVE	A	0.11%	0.07%	0.07%
LPG	F	0.04%	0.19%	0.04%
LPX	B	0.41%	0.27%	0.27%
LRN	A	0.16%	0.04%	0.04%
LTH	C	0.03%	0.01%	0.01%
M	F	0.19%	0.54%	0.19%
MATV	D	0.07%	0.09%	0.07%
MATX	C	0.21%	0.97%	0.21%
MCB	B	0.11%	0.08%	0.08%
MCY	A	0.06%	0.08%	0.06%
MDU	D	0.04%	0.54%	0.04%
MED	D	0.06%	0.03%	0.03%
MERC	F	0.05%	0.02%	0.02%
MLI	B	0.49%	0.94%	0.49%
MRC	B	0.09%	0.14%	0.09%
MTG	C	0.09%	0.38%	0.09%
MTW	C	0.02%	0.01%	0.01%
MUR	D	0.19%	0.23%	0.19%
NAVI	F	0.19%	0.15%	0.15%
NBR	C	0.07%	0.11%	0.07%
NBTB	B	0.0%	0.09%	0.0%
NFBK	C	0.01%	0.05%	0.01%
NTB	B	0.07%	0.21%	0.07%
NUS	D	0.02%	0.03%	0.02%
NX	C	0.03%	0.14%	0.03%
ODP	F	0.11%	0.14%	0.11%
OFG	B	0.0%	0.26%	0.0%
OII	B	0.11%	0.39%	0.11%
OIS	B	0.01%	0.02%	0.01%
OLPX	D	0.01%	0.0%	0.0%
OMF	A	0.16%	0.21%	0.16%
OPEN	F	0.02%	0.19%	0.02%
OSCR	D	0.08%	0.06%	0.06%
OSUR	F	0.01%	0.05%	0.01%
OXM	F	0.06%	0.19%	0.06%
OZK	B	0.08%	0.54%	0.08%
PBF	D	0.02%	0.28%	0.02%
PDCO	F	0.02%	0.15%	0.02%
PFBC	B	0.0%	0.07%	0.0%
PFSI	C	0.04%	0.22%	0.04%
PHIN	A	0.09%	0.38%	0.09%
PII	F	0.01%	0.31%	0.01%
PLUS	F	0.07%	0.36%	0.07%
POWL	C	0.38%	0.59%	0.38%
PRDO	B	0.0%	0.21%	0.0%
PRG	C	0.17%	0.16%	0.16%
PTEN	C	0.11%	0.43%	0.11%
PVH	C	0.17%	0.14%	0.14%
R	B	0.28%	0.73%	0.28%
RDN	D	0.06%	0.64%	0.06%
RIG	D	0.07%	0.11%	0.07%
RYI	C	0.03%	0.12%	0.03%
SANM	B	0.22%	0.4%	0.22%
SATS	D	0.12%	0.38%	0.12%
SCS	C	0.08%	0.21%	0.08%
SF	B	0.17%	0.01%	0.01%
SFBS	C	0.13%	0.08%	0.08%
SFL	D	0.06%	0.19%	0.06%
SFM	A	0.6%	0.71%	0.6%
SIG	B	0.26%	0.58%	0.26%
SLM	A	0.16%	0.69%	0.16%
SLVM	B	0.02%	0.46%	0.02%
SM	B	0.07%	0.83%	0.07%
SNEX	B	0.07%	0.33%	0.07%
SNV	C	0.05%	0.29%	0.05%
SONO	C	0.05%	0.01%	0.01%
SRCE	B	0.16%	0.03%	0.03%
STRL	A	0.29%	0.3%	0.29%
SUPN	C	0.03%	0.22%	0.03%
SWIM	C	0.03%	0.02%	0.02%
TBBK	B	0.0%	0.35%	0.0%
TCBI	C	0.03%	0.31%	0.03%
TDS	B	0.04%	0.55%	0.04%
TEX	F	0.19%	0.52%	0.19%
THO	B	0.13%	0.54%	0.13%
TILE	B	0.05%	0.26%	0.05%
TMHC	C	0.09%	0.1%	0.09%
TNC	D	0.06%	0.05%	0.05%
TPH	D	0.14%	0.37%	0.14%
TRMK	C	0.0%	0.17%	0.0%
TRN	B	0.06%	0.38%	0.06%
UA	C	0.14%	0.06%	0.06%
UFPI	C	0.23%	0.07%	0.07%
UMBF	B	0.14%	0.6%	0.14%
UNFI	A	0.02%	0.2%	0.02%
USNA	C	0.02%	0.05%	0.02%
UVE	B	0.03%	0.07%	0.03%
VC	F	0.08%	0.22%	0.08%
VNDA	C	0.03%	0.01%	0.01%
VSH	F	0.09%	0.34%	0.09%
VSTO	A	0.14%	0.41%	0.14%
WAFD	B	0.12%	0.33%	0.12%
WAL	B	0.1%	0.11%	0.1%
WD	D	0.02%	0.33%	0.02%
WGO	C	0.05%	0.19%	0.05%
WNC	C	0.07%	0.14%	0.07%
WOR	F	0.08%	0.15%	0.08%
WTFC	A	0.02%	0.27%	0.02%
WTM	A	0.16%	0.05%	0.05%
WTTR	A	0.06%	0.22%	0.06%
XPRO	D	0.01%	0.03%	0.01%
ZION	B	0.24%	0.09%	0.09%

SMLF Overweight 607 Positions Relative to AVUV

Symbol	Grade	Weight
APP	B	1.49%
EME	A	0.94%
EVR	B	0.81%
MSTR	B	0.73%
DECK	A	0.72%
AXON	A	0.66%
ALSN	B	0.56%
NTNX	B	0.56%
JBL	C	0.55%
MANH	D	0.5%
SLG	B	0.49%
RS	B	0.49%
NVT	B	0.49%
CVNA	B	0.46%
IDA	A	0.46%
IBKR	A	0.45%
FIX	A	0.44%
DUOL	A	0.44%
COCO	A	0.43%
WSM	C	0.42%
PCOR	B	0.42%
CSL	C	0.41%
COOP	B	0.41%
IOT	A	0.41%
VNO	C	0.41%
ORI	A	0.41%
JEF	A	0.4%
HRB	D	0.4%
NTRA	A	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
EWBC	A	0.39%
UTHR	C	0.38%
DKS	D	0.38%
MEDP	D	0.38%
BRX	A	0.37%
WING	D	0.36%
CNM	D	0.36%
WFRD	D	0.35%
CR	A	0.35%
AYI	B	0.35%
PIPR	A	0.34%
CAVA	B	0.34%
WK	B	0.34%
LAMR	C	0.33%
JHG	B	0.31%
WSO	A	0.31%
ITT	A	0.31%
FLEX	B	0.31%
FR	D	0.31%
SOLV	D	0.31%
MAC	B	0.31%
THC	D	0.31%
TPR	B	0.3%
SPXC	A	0.3%
CORT	B	0.3%
CHE	D	0.3%
GGG	B	0.3%
EXE	A	0.29%
TTEK	F	0.29%
PSTG	D	0.29%
PRI	B	0.28%
INTA	B	0.27%
SN	D	0.27%
FCNCA	A	0.27%
SMAR	B	0.26%
ESTC	C	0.26%
GPK	C	0.26%
AMH	C	0.25%
OVV	B	0.25%
MOD	A	0.25%
HURN	C	0.25%
CFR	B	0.25%
TPX	B	0.24%
CPRX	C	0.24%
CBSH	B	0.24%
TREX	C	0.24%
RMBS	B	0.24%
AN	C	0.24%
SKT	A	0.24%
HALO	F	0.24%
EXEL	B	0.24%
CW	C	0.23%
ENTG	D	0.23%
LSCC	D	0.23%
AMG	B	0.23%
YOU	D	0.23%
EXLS	B	0.23%
GPI	B	0.22%
APA	D	0.22%
RPM	A	0.22%
WS	C	0.22%
COKE	C	0.22%
AXSM	B	0.22%
RNR	C	0.21%
AR	B	0.21%
TOST	B	0.21%
BLD	D	0.21%
AZPN	A	0.21%
SRPT	F	0.2%
ETSY	D	0.2%
LIVN	F	0.2%
RDDT	A	0.2%
XRAY	F	0.2%
ELF	C	0.2%
RRX	B	0.2%
AGCO	D	0.2%
DTM	A	0.2%
DNLI	D	0.2%
BBWI	C	0.2%
HAE	C	0.2%
WCC	B	0.2%
TPG	A	0.2%
LUMN	C	0.2%
RNG	C	0.19%
SMG	C	0.19%
JOE	F	0.19%
CROX	D	0.19%
ACM	B	0.19%
GH	B	0.19%
HAS	D	0.19%
RRC	B	0.19%
HLI	A	0.18%
PRGS	A	0.18%
KNSL	B	0.18%
XRX	F	0.18%
ARW	D	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
VCYT	B	0.18%
ESAB	C	0.18%
USFD	A	0.18%
HIW	C	0.18%
OC	A	0.18%
GLPI	C	0.18%
FROG	C	0.18%
DCI	B	0.18%
AVNT	B	0.18%
MMYT	B	0.17%
VOYA	B	0.17%
ACLX	C	0.17%
TKR	D	0.17%
LNW	F	0.17%
BRC	D	0.17%
PDM	D	0.17%
KRG	B	0.17%
RHI	C	0.17%
XPO	B	0.17%
AIZ	A	0.17%
EXTR	C	0.17%
PRKS	B	0.17%
KIM	A	0.16%
IVT	A	0.16%
ALLE	C	0.16%
BL	B	0.16%
BMI	B	0.16%
BJ	A	0.16%
CVCO	A	0.16%
TOL	B	0.16%
GME	C	0.16%
TNL	A	0.16%
AGNC	C	0.16%
FAF	A	0.16%
PGRE	F	0.16%
LBTYA	F	0.15%
GNRC	C	0.15%
SBGI	B	0.15%
ONON	A	0.15%
XNCR	B	0.15%
RL	C	0.15%
ONTO	F	0.15%
W	D	0.15%
VMI	B	0.15%
FTAI	A	0.15%
DOCS	C	0.15%
SPB	C	0.15%
ABG	C	0.15%
CWEN	C	0.15%
SKY	A	0.15%
ESI	B	0.15%
RGLD	C	0.14%
ATI	C	0.14%
IGT	F	0.14%
MMSI	A	0.14%
NOVT	D	0.14%
IONS	F	0.14%
PI	D	0.14%
BRKR	D	0.14%
NJR	A	0.14%
ENSG	C	0.14%
TTC	C	0.14%
YEXT	B	0.14%
PCTY	C	0.14%
SCI	B	0.14%
AY	A	0.14%
SPT	C	0.14%
SSD	F	0.14%
BLKB	B	0.13%
VMEO	B	0.13%
BPMC	B	0.13%
IPAR	B	0.13%
NFG	A	0.13%
TNET	F	0.13%
OGS	A	0.13%
BRZE	C	0.13%
BWXT	B	0.13%
GOLF	B	0.13%
RYAN	A	0.13%
KAI	B	0.13%
BDN	C	0.13%
QLYS	B	0.13%
NUVL	C	0.13%
AA	A	0.13%
SR	A	0.12%
MAT	D	0.12%
INSP	D	0.12%
AWR	B	0.12%
SAIA	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	B	0.12%
ACLS	F	0.12%
NYT	D	0.12%
OGE	A	0.12%
GFF	A	0.12%
WH	B	0.12%
KRC	B	0.12%
WEN	D	0.12%
NOV	C	0.12%
AIT	B	0.12%
BSY	F	0.12%
WTS	B	0.12%
NTCT	C	0.11%
FHI	B	0.11%
CYTK	F	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
PARA	C	0.11%
SSTK	F	0.11%
DFIN	D	0.11%
CUBE	C	0.11%
MFA	D	0.11%
ACAD	C	0.11%
CRUS	D	0.11%
CARG	B	0.11%
SPSC	D	0.11%
BAND	B	0.11%
CXW	C	0.11%
MDGL	B	0.11%
NSP	F	0.11%
BCRX	D	0.11%
KW	C	0.1%
MTRN	C	0.1%
CHDN	B	0.1%
ACA	A	0.1%
BECN	B	0.1%
EXPI	D	0.1%
PNFP	B	0.1%
IVZ	B	0.1%
UGI	C	0.1%
CRDO	B	0.1%
VECO	F	0.1%
LSTR	D	0.1%
NNN	C	0.1%
HUN	F	0.1%
ICFI	F	0.1%
SYNA	C	0.1%
X	B	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
BERY	C	0.1%
INSM	C	0.1%
WMS	F	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
EEFT	B	0.09%
CXT	C	0.09%
MTSI	B	0.09%
WSC	F	0.09%
JACK	C	0.09%
MTN	C	0.09%
PCVX	D	0.09%
ATEN	A	0.09%
APG	B	0.09%
PBH	A	0.09%
HI	C	0.09%
LGND	C	0.09%
CAR	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
PLNT	A	0.09%
EGP	D	0.09%
BC	C	0.09%
TGNA	B	0.09%
OHI	C	0.09%
COUR	F	0.09%
UPBD	B	0.09%
DVAX	C	0.09%
AMLX	C	0.09%
OLN	F	0.09%
WEX	D	0.09%
SON	F	0.09%
CRS	B	0.09%
EXPO	D	0.09%
FIVN	C	0.08%
TENB	C	0.08%
LILA	D	0.08%
OPCH	D	0.08%
CVLT	B	0.08%
VIR	D	0.08%
FLR	B	0.08%
RGEN	D	0.08%
PEGA	B	0.08%
ELAN	D	0.08%
MKSI	C	0.08%
FHB	B	0.08%
PD	C	0.08%
YETI	D	0.08%
KN	B	0.08%
MASI	B	0.08%
GMS	B	0.08%
CACC	D	0.08%
DLX	B	0.08%
VFC	C	0.08%
BOX	B	0.08%
NSSC	D	0.08%
CUZ	B	0.08%
MIDD	C	0.08%
BDC	C	0.08%
ALV	C	0.08%
CSWI	B	0.08%
CNMD	C	0.07%
AFRM	A	0.07%
UNIT	B	0.07%
CLH	C	0.07%
EQC	B	0.07%
DH	F	0.07%
HASI	D	0.07%
AMRX	C	0.07%
PEN	B	0.07%
EYPT	D	0.07%
WYNN	C	0.07%
VAC	C	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	B	0.07%
FLNC	D	0.07%
WLY	B	0.07%
EPAC	C	0.07%
GKOS	B	0.07%
DOMO	B	0.07%
TXRH	B	0.07%
NARI	C	0.07%
NXST	C	0.07%
NVST	B	0.06%
AVXL	B	0.06%
YELP	C	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
COTY	F	0.06%
S	B	0.06%
FN	C	0.06%
NXT	C	0.06%
ILPT	F	0.06%
STWD	C	0.06%
MPW	F	0.06%
BRBR	A	0.06%
ITCI	C	0.06%
VKTX	F	0.06%
RUSHA	C	0.06%
FUN	C	0.06%
LADR	B	0.06%
NSIT	F	0.06%
SOFI	B	0.06%
FLO	D	0.06%
CASY	A	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
BCO	F	0.06%
AIV	C	0.06%
ADMA	B	0.06%
APPF	B	0.06%
AZEK	A	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
KD	B	0.06%
FOLD	F	0.05%
AVAV	C	0.05%
ITGR	B	0.05%
ACI	C	0.05%
FFIN	B	0.05%
PZZA	F	0.05%
ITRI	C	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
BEAM	D	0.05%
SITE	F	0.05%
CERS	D	0.05%
BLMN	F	0.05%
PATH	C	0.05%
HOUS	F	0.05%
TARS	C	0.05%
SMTC	B	0.05%
ZIP	D	0.05%
VNT	C	0.05%
THR	B	0.05%
WBS	A	0.05%
APLS	F	0.05%
LFUS	D	0.05%
ASAN	B	0.05%
WBA	F	0.05%
PK	C	0.05%
MDXG	B	0.05%
LECO	C	0.05%
ARWR	D	0.04%
FCN	F	0.04%
MAN	F	0.04%
HPP	F	0.04%
STAG	D	0.04%
DAWN	D	0.04%
CORZ	B	0.04%
KREF	C	0.04%
OUT	A	0.04%
DIN	C	0.04%
PRGO	C	0.04%
FLYW	B	0.04%
AGS	A	0.04%
IDT	B	0.04%
SANA	F	0.04%
TPB	B	0.04%
SAH	C	0.04%
ANAB	F	0.04%
NATL	B	0.04%
HELE	C	0.04%
RVMD	C	0.04%
CELH	F	0.04%
AGYS	A	0.04%
ARRY	F	0.04%
ROKU	D	0.04%
BILL	A	0.04%
CFFN	C	0.04%
OMI	F	0.04%
HLF	C	0.04%
ANGI	F	0.04%
IBP	D	0.04%
NHI	D	0.04%
ACHC	F	0.04%
HSTM	B	0.04%
MMS	F	0.04%
FHN	A	0.04%
BCPC	B	0.04%
IOSP	C	0.04%
RCUS	F	0.04%
JANX	C	0.03%
AXTA	B	0.03%
GMED	A	0.03%
ALHC	C	0.03%
VIAV	C	0.03%
ALRM	C	0.03%
RDFN	D	0.03%
ADT	C	0.03%
MOG.A	B	0.03%
CHRD	D	0.03%
RGNX	D	0.03%
EVTC	B	0.03%
VCEL	B	0.03%
EMBC	C	0.03%
DNB	B	0.03%
TGTX	B	0.03%
BBIO	F	0.03%
QXO	D	0.03%
OFIX	C	0.03%
XHR	B	0.03%
CIEN	C	0.03%
VIRT	A	0.03%
QDEL	F	0.03%
REVG	C	0.03%
SNBR	F	0.03%
CHWY	B	0.03%
UDMY	D	0.03%
SLAB	F	0.03%
BRSP	C	0.03%
CDP	C	0.03%
MGNI	B	0.03%
HNI	B	0.03%
AMN	F	0.03%
ACCD	D	0.03%
VITL	D	0.03%
CGEM	F	0.03%
IVR	F	0.03%
RPD	B	0.03%
SPRY	C	0.03%
ATRC	C	0.03%
CNS	B	0.03%
RLI	A	0.03%
RKT	F	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SSB	B	0.02%
CACI	D	0.02%
OSIS	A	0.02%
MSM	C	0.02%
TSE	F	0.02%
KVYO	C	0.02%
ARCT	F	0.02%
OMER	A	0.02%
VSTS	C	0.02%
DYN	F	0.02%
EVH	F	0.02%
PRO	C	0.02%
RAMP	B	0.02%
QRTEA	F	0.02%
GPRO	F	0.02%
SAFE	F	0.02%
KFY	B	0.02%
MSA	F	0.02%
EDR	A	0.02%
DOCN	C	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	C	0.02%
EPR	C	0.02%
BMBL	C	0.02%
OPI	F	0.02%
IRWD	F	0.02%
FSS	B	0.02%
DY	D	0.02%
LMAT	A	0.02%
PR	B	0.02%
RLJ	C	0.02%
CRSP	D	0.02%
TLRY	F	0.02%
SITC	D	0.02%
SVC	F	0.02%
TWO	F	0.02%
SNDX	F	0.02%
AKRO	B	0.02%
PTCT	B	0.02%
LANC	C	0.02%
CALX	D	0.02%
CWK	C	0.01%
ALGM	D	0.01%
VAL	F	0.01%
DINO	D	0.01%
PGEN	F	0.01%
ARR	D	0.01%
PEB	D	0.01%
JAMF	F	0.01%
PCH	F	0.01%
EPC	F	0.01%
SFIX	B	0.01%
POWI	F	0.01%
TDC	D	0.01%
MBC	F	0.01%
BIGC	B	0.01%
MLAB	F	0.01%
GO	C	0.01%
JOBY	B	0.01%
UTL	B	0.01%
WTI	F	0.01%
ZUO	B	0.01%
NWN	A	0.01%
BKH	A	0.01%
CRAI	C	0.01%
SWI	C	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	B	0.01%
TR	B	0.01%
ROIV	C	0.01%
TTGT	B	0.01%
SWX	B	0.01%
HCAT	D	0.01%
RBRK	A	0.01%
NGVT	B	0.01%
HQY	A	0.01%
ENVA	B	0.01%
STGW	A	0.01%
ENR	B	0.01%
BSIG	A	0.01%
GEF	A	0.01%
GWRE	A	0.01%
RHP	B	0.01%
PYCR	B	0.01%
ASGN	F	0.01%
MBLY	C	0.01%
HAIN	D	0.01%
SWTX	C	0.01%
NEXA	B	0.01%
BYD	B	0.01%
UPWK	B	0.01%
HXL	F	0.01%
SHO	D	0.01%
AEIS	C	0.01%
MAGN	D	0.0%
MC	C	0.0%
SEE	C	0.0%
DEI	B	0.0%
UNM	A	0.0%

SMLF Underweight 514 Positions Relative to AVUV

Symbol	Grade	Weight
ALK	B	-0.9%
HRI	C	-0.88%
SKYW	C	-0.83%
AL	B	-0.8%
MGY	A	-0.73%
MHO	D	-0.69%
DXC	B	-0.69%
NOG	B	-0.65%
KBH	D	-0.64%
CALM	A	-0.63%
BTU	B	-0.54%
MARA	B	-0.54%
GT	C	-0.51%
LBRT	D	-0.51%
AVT	C	-0.51%
COLB	B	-0.5%
URBN	C	-0.45%
STNG	F	-0.45%
BHF	C	-0.45%
CATY	B	-0.42%
WERN	C	-0.42%
ONB	C	-0.42%
HUBG	A	-0.39%
NMIH	C	-0.39%
VLY	B	-0.38%
LCII	C	-0.37%
COLM	C	-0.37%
KMT	B	-0.37%
PSMT	D	-0.36%
INSW	F	-0.36%
JWN	D	-0.35%
PINC	B	-0.33%
GBX	A	-0.33%
PLXS	B	-0.32%
FNB	A	-0.31%
ESGR	B	-0.29%
ANDE	D	-0.29%
WSFS	B	-0.28%
ATSG	B	-0.28%
BANR	B	-0.28%
BHE	C	-0.28%
JBLU	F	-0.28%
CRI	F	-0.28%
TALO	C	-0.27%
LZB	B	-0.27%
PLAB	C	-0.27%
GVA	A	-0.27%
CRGY	B	-0.27%
HLX	B	-0.26%
EFSC	B	-0.25%
ABCB	B	-0.24%
CRK	B	-0.22%
ESNT	F	-0.22%
TTMI	C	-0.22%
HHH	B	-0.22%
DHT	F	-0.21%
ALGT	B	-0.21%
SPNT	B	-0.2%
CIVI	D	-0.2%
BXC	B	-0.2%
SXC	A	-0.2%
AAP	D	-0.2%
FCF	B	-0.2%
PAYO	A	-0.2%
TPC	C	-0.19%
SCSC	C	-0.19%
IRDM	D	-0.19%
WMK	C	-0.18%
WABC	B	-0.18%
QCRH	B	-0.18%
KRP	B	-0.18%
SASR	B	-0.18%
GLNG	C	-0.17%
MRTN	D	-0.17%
INDB	B	-0.17%
SCL	C	-0.17%
HOPE	C	-0.17%
HRMY	D	-0.17%
MCRI	A	-0.17%
SNDR	B	-0.17%
MTH	D	-0.16%
BUSE	B	-0.16%
DIOD	D	-0.16%
USM	B	-0.16%
DOLE	D	-0.16%
WKC	C	-0.16%
STBA	B	-0.16%
PLYA	B	-0.15%
OEC	C	-0.15%
FDP	B	-0.15%
HTLF	B	-0.14%
UAA	C	-0.14%
DCOM	B	-0.14%
TOWN	B	-0.14%
PARR	F	-0.14%
PTGX	D	-0.14%
PFS	B	-0.14%
LC	A	-0.14%
CBRL	C	-0.14%
BELFB	C	-0.14%
GNK	D	-0.13%
STNE	F	-0.13%
BJRI	C	-0.13%
OCFC	B	-0.13%
AXL	C	-0.13%
PEBO	B	-0.13%
PUMP	C	-0.13%
PFC	B	-0.12%
PLMR	A	-0.12%
NBHC	C	-0.12%
CABO	B	-0.12%
BRKL	B	-0.12%
VBTX	B	-0.12%
MBUU	B	-0.12%
MTDR	B	-0.12%
DAKT	C	-0.11%
ETD	C	-0.11%
OBK	C	-0.11%
MTUS	C	-0.11%
EBS	C	-0.11%
SCVL	F	-0.11%
EGY	D	-0.11%
ASIX	B	-0.11%
NWBI	B	-0.11%
ACT	C	-0.11%
SGHC	A	-0.11%
PPBI	C	-0.11%
FRME	B	-0.11%
CNOB	B	-0.11%
CNXN	C	-0.11%
TCBK	C	-0.11%
HAFC	B	-0.1%
SNCY	C	-0.1%
FMBH	B	-0.1%
REX	D	-0.1%
MBIN	F	-0.1%
OSBC	A	-0.1%
SPTN	D	-0.1%
AMAL	B	-0.1%
PAGS	F	-0.1%
NR	B	-0.1%
MBWM	B	-0.1%
BHLB	B	-0.1%
PATK	C	-0.1%
VTOL	B	-0.1%
UVSP	B	-0.1%
IBCP	B	-0.1%
RYAM	C	-0.1%
BY	B	-0.1%
CPF	B	-0.1%
AMRC	F	-0.1%
SCHL	F	-0.09%
NBN	C	-0.09%
SYBT	B	-0.09%
IIIN	C	-0.09%
CLW	F	-0.09%
IBTX	B	-0.09%
FOR	F	-0.09%
HCI	C	-0.09%
THG	A	-0.09%
TROX	D	-0.09%
UTI	B	-0.09%
RES	D	-0.09%
ASC	F	-0.09%
SWBI	C	-0.08%
NNI	D	-0.08%
BFST	C	-0.08%
NGVC	A	-0.08%
FBMS	B	-0.08%
TGLS	B	-0.08%
TRST	B	-0.08%
PAHC	C	-0.08%
MCS	B	-0.08%
ENLC	A	-0.08%
ANET	C	-0.08%
BBW	C	-0.08%
SMP	C	-0.08%
NTGR	B	-0.08%
NAT	F	-0.08%
GLDD	B	-0.08%
CFB	B	-0.08%
CCNE	C	-0.07%
AMKR	D	-0.07%
HTBK	B	-0.07%
GRNT	B	-0.07%
MSBI	B	-0.07%
SEB	F	-0.07%
SMBC	B	-0.07%
VRTS	B	-0.07%
GSBC	C	-0.07%
HTLD	C	-0.07%
HY	D	-0.07%
LMB	B	-0.07%
SKWD	A	-0.07%
WASH	C	-0.07%
CMRE	C	-0.07%
ZEUS	C	-0.07%
KELYA	F	-0.07%
BGS	F	-0.07%
LXU	B	-0.07%
RDUS	B	-0.07%
RBCAA	B	-0.07%
AROW	B	-0.06%
OPY	B	-0.06%
CVGW	D	-0.06%
REPX	A	-0.06%
SD	D	-0.06%
CCB	A	-0.06%
CCRN	F	-0.06%
THFF	B	-0.06%
EBF	F	-0.06%
ESQ	B	-0.06%
ULH	C	-0.06%
HTBI	B	-0.06%
PGC	B	-0.06%
VTLE	C	-0.06%
LXFR	C	-0.05%
SIGA	F	-0.05%
KE	C	-0.05%
BVS	D	-0.05%
APEI	B	-0.05%
VSAT	F	-0.05%
SB	F	-0.05%
ARHS	F	-0.05%
SBSI	C	-0.05%
AMTB	B	-0.05%
MCBS	B	-0.05%
NRIM	A	-0.05%
HVT	D	-0.05%
THRM	F	-0.05%
SPFI	C	-0.05%
FISI	B	-0.05%
ORRF	B	-0.05%
MCFT	C	-0.05%
GPOR	B	-0.05%
SMBK	B	-0.05%
CVEO	F	-0.05%
ODC	B	-0.05%
FFIC	B	-0.05%
HPK	B	-0.05%
FG	A	-0.05%
BHB	C	-0.05%
HBNC	B	-0.05%
SBLK	F	-0.05%
CAC	C	-0.05%
METC	C	-0.05%
NWPX	A	-0.05%
USAP	B	-0.05%
GDEN	B	-0.05%
HRTG	C	-0.04%
RGR	F	-0.04%
FNKO	D	-0.04%
ATNI	F	-0.04%
CARE	C	-0.04%
VIRC	B	-0.04%
CENT	C	-0.04%
CCBG	B	-0.04%
USLM	A	-0.04%
FSBC	C	-0.04%
ZIMV	D	-0.04%
HNRG	B	-0.04%
MPB	B	-0.04%
MOV	D	-0.04%
CLF	F	-0.04%
VLGEA	C	-0.04%
RBB	B	-0.04%
TWI	F	-0.04%
DXLG	D	-0.03%
ACIC	B	-0.03%
ORN	B	-0.03%
TMP	B	-0.03%
FLXS	B	-0.03%
BANC	B	-0.03%
NATR	C	-0.03%
IPI	C	-0.03%
CENX	B	-0.03%
LOB	C	-0.03%
FBK	C	-0.03%
GPRE	F	-0.03%
UCB	A	-0.03%
PKOH	C	-0.03%
LYTS	B	-0.03%
KRT	B	-0.03%
DHIL	B	-0.03%
EZPW	B	-0.03%
RNGR	A	-0.03%
EBC	B	-0.03%
MYE	F	-0.03%
WRLD	C	-0.03%
GRBK	D	-0.03%
HFWA	C	-0.03%
LE	D	-0.03%
SHBI	B	-0.03%
AOSL	C	-0.03%
CRCT	F	-0.03%
MOFG	B	-0.03%
VPG	F	-0.03%
SGC	C	-0.03%
FLIC	B	-0.03%
TH	C	-0.03%
PANL	F	-0.03%
AMPY	C	-0.03%
SFNC	C	-0.03%
LKFN	C	-0.03%
GLRE	B	-0.03%
JAKK	C	-0.03%
GHM	A	-0.02%
IMMR	C	-0.02%
PBYI	C	-0.02%
VRA	C	-0.02%
PUBM	C	-0.02%
EPM	A	-0.02%
HBCP	C	-0.02%
LEGH	D	-0.02%
FSTR	B	-0.02%
ESOA	B	-0.02%
FRBA	D	-0.02%
FBNC	B	-0.02%
RICK	B	-0.02%
BFC	B	-0.02%
IMXI	B	-0.02%
WTBA	B	-0.02%
HBT	B	-0.02%
FFBC	B	-0.02%
HIFS	C	-0.02%
ALRS	D	-0.02%
CASS	C	-0.02%
MNTK	F	-0.02%
BMRC	B	-0.02%
UNTY	B	-0.02%
CIVB	B	-0.02%
CMT	C	-0.02%
LEA	F	-0.02%
ANIP	F	-0.02%
ACDC	B	-0.02%
KODK	B	-0.02%
TCBX	B	-0.02%
EQBK	B	-0.02%
FFWM	C	-0.02%
SFST	B	-0.02%
SAFT	B	-0.02%
HBB	F	-0.02%
HOFT	B	-0.02%
FIBK	B	-0.02%
INBK	B	-0.02%
BSRR	B	-0.02%
PRA	C	-0.02%
RM	C	-0.02%
HONE	C	-0.02%
FIVE	F	-0.02%
FSBW	C	-0.02%
WLFC	B	-0.02%
NEU	D	-0.02%
FMNB	B	-0.02%
MEI	F	-0.02%
FIGS	F	-0.02%
REI	D	-0.02%
PLPC	B	-0.02%
SHEN	F	-0.02%
TTI	B	-0.02%
TBI	F	-0.02%
HDSN	F	-0.02%
GHC	B	-0.02%
RCKY	F	-0.02%
FBIZ	B	-0.02%
ACNB	B	-0.02%
BWB	B	-0.02%
UBFO	A	-0.01%
MTRX	B	-0.01%
EVC	C	-0.01%
BSET	C	-0.01%
PWOD	A	-0.01%
BSVN	B	-0.01%
KRO	C	-0.01%
COFS	A	-0.01%
TSBK	A	-0.01%
KEQU	B	-0.01%
FRST	B	-0.01%
FCBC	C	-0.01%
LSEA	D	-0.01%
KLXE	C	-0.01%
CBNK	B	-0.01%
ISTR	B	-0.01%
OPBK	B	-0.01%
BWFG	B	-0.01%
NC	B	-0.01%
LFVN	C	-0.01%
LCUT	F	-0.01%
JRVR	F	-0.01%
LWAY	C	-0.01%
MPAA	B	-0.01%
ATLC	A	-0.01%
GABC	B	-0.01%
IBEX	B	-0.01%
FUNC	B	-0.01%
CBAN	B	-0.01%
BCML	B	-0.01%
APLD	B	-0.01%
METCB	F	-0.01%
VEL	A	-0.01%
ACTG	D	-0.01%
PKBK	A	-0.01%
GNTY	A	-0.01%
FLL	C	-0.01%
GEOS	B	-0.01%
ACU	C	-0.01%
UFCS	A	-0.01%
LNN	B	-0.01%
ITIC	A	-0.01%
AMSF	B	-0.01%
TTSH	F	-0.01%
ALTG	C	-0.01%
EBTC	C	-0.01%
MFIN	B	-0.01%
NGS	B	-0.01%
SRI	F	-0.01%
EVBN	B	-0.01%
FF	F	-0.01%
PCB	B	-0.01%
BELFA	D	-0.01%
CVGI	F	-0.01%
RLGT	B	-0.01%
CLAR	D	-0.01%
WSBF	C	-0.01%
NNBR	C	-0.01%
MVBF	C	-0.01%
MYRG	B	-0.01%
MWA	B	-0.01%
TAYD	D	-0.01%
AVO	C	-0.01%
HMN	B	-0.01%
UEIC	B	-0.01%
BCBP	B	-0.01%
TG	D	-0.01%
RMAX	C	-0.01%
OBT	C	-0.01%
MEC	F	-0.01%
CPHC	C	-0.0%
AVNW	F	-0.0%
VREX	B	-0.0%
MRBK	A	-0.0%
NKSH	C	-0.0%
SRTS	B	-0.0%
MNSB	C	-0.0%
WNEB	A	-0.0%
KVHI	B	-0.0%
PLBC	A	-0.0%
ECPG	C	-0.0%
FGBI	A	-0.0%
ESCA	B	-0.0%
IPGP	D	-0.0%
MYFW	B	-0.0%
UTMD	F	-0.0%
LAKE	B	-0.0%
ATLO	C	-0.0%
VABK	B	-0.0%
KOP	C	-0.0%
FDBC	C	-0.0%
CNTY	B	-0.0%
PVBC	B	-0.0%
AOUT	B	-0.0%
WOW	C	-0.0%
PHX	A	-0.0%
PDEX	C	-0.0%
BCAL	B	-0.0%
NEWT	C	-0.0%
PCRX	C	-0.0%
WEYS	C	-0.0%
OB	B	-0.0%
MYPS	C	-0.0%
LPRO	B	-0.0%
ZUMZ	B	-0.0%
DLTH	D	-0.0%
UFI	D	-0.0%
CSPI	C	-0.0%
SPWH	F	-0.0%
NWFL	C	-0.0%
TBNK	B	-0.0%
CZFS	B	-0.0%
NIC	B	-0.0%
VHI	D	-0.0%
RRBI	A	-0.0%
FVCB	B	-0.0%
CRD.B	D	-0.0%
EML	D	-0.0%
CHMG	B	-0.0%
QUAD	C	-0.0%
FONR	D	-0.0%
EPSN	B	-0.0%
CCRD	B	-0.0%
PFIS	A	-0.0%
KINS	B	-0.0%
CFFI	A	-0.0%
CATO	D	-0.0%
PEBK	B	-0.0%
CBFV	A	-0.0%
RVSB	B	-0.0%
OVLY	B	-0.0%
ASTE	C	-0.0%
BOOM	F	-0.0%
HWBK	B	-0.0%
FNLC	C	-0.0%
TWIN	F	-0.0%
PNRG	A	-0.0%
PYXS	D	-0.0%
FET	F	-0.0%
CPSS	B	-0.0%
FRAF	A	-0.0%
BFIN	B	-0.0%
SEG	B	-0.0%
GIC	D	-0.0%
MPX	C	-0.0%
XBIT	F	-0.0%
STKS	F	-0.0%