SMLF vs. FAB ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to First Trust Multi Cap Value AlphaDEX Fund (FAB)

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

$70.37

Average Daily Volume

70,017

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$86.29

Average Daily Volume

2,528

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FAB
30 Days	3.58%	0.80%
60 Days	6.73%	2.93%
90 Days	9.95%	5.26%
12 Months	35.13%	23.42%

240 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FAB	Overlap
ABG	B	0.15%	0.14%	0.14%
ACA	A	0.1%	0.09%	0.09%
AEO	F	0.05%	0.11%	0.05%
AGCO	F	0.2%	0.08%	0.08%
AGO	A	0.27%	0.25%	0.25%
AIN	C	0.01%	0.02%	0.01%
AIZ	A	0.17%	0.09%	0.09%
ALIT	C	0.09%	0.05%	0.05%
ALKS	C	0.3%	0.09%	0.09%
AMG	C	0.23%	0.23%	0.23%
AMN	F	0.03%	0.06%	0.03%
AMR	C	0.14%	0.22%	0.14%
AN	D	0.24%	0.12%	0.12%
APA	F	0.22%	0.2%	0.2%
AR	B	0.21%	0.09%	0.09%
ARCB	C	0.02%	0.08%	0.02%
ARW	F	0.18%	0.15%	0.15%
ASB	B	0.1%	0.06%	0.06%
ASGN	F	0.01%	0.08%	0.01%
ASH	F	0.07%	0.12%	0.07%
ASO	F	0.06%	0.18%	0.06%
ATKR	D	0.2%	0.23%	0.2%
AVNT	B	0.18%	0.04%	0.04%
AXS	A	0.01%	0.14%	0.01%
BBWI	C	0.2%	0.17%	0.17%
BC	D	0.09%	0.12%	0.09%
BCC	C	0.22%	0.17%	0.17%
BECN	B	0.1%	0.1%	0.1%
BERY	D	0.1%	0.14%	0.1%
BFH	B	0.0%	0.15%	0.0%
BJ	B	0.16%	0.05%	0.05%
BKE	B	0.12%	0.08%	0.08%
BKH	A	0.01%	0.18%	0.01%
BKU	A	0.0%	0.08%	0.0%
BLMN	F	0.05%	0.02%	0.02%
BMBL	C	0.02%	0.16%	0.02%
BPOP	C	0.53%	0.04%	0.04%
BYD	B	0.01%	0.15%	0.01%
CAL	F	0.08%	0.11%	0.08%
CAR	C	0.09%	0.06%	0.06%
CASH	B	0.0%	0.09%	0.0%
CC	D	0.06%	0.02%	0.02%
CENTA	C	0.05%	0.1%	0.05%
CHRD	F	0.03%	0.22%	0.03%
CMA	B	0.0%	0.1%	0.0%
CMC	B	0.14%	0.23%	0.14%
CNMD	C	0.07%	0.02%	0.02%
CNO	B	0.16%	0.19%	0.16%
CNX	A	0.06%	0.25%	0.06%
COOP	B	0.41%	0.18%	0.18%
CRC	A	0.1%	0.1%	0.1%
CUBI	C	0.09%	0.15%	0.09%
CUZ	B	0.08%	0.09%	0.08%
CVBF	B	0.05%	0.09%	0.05%
CVCO	A	0.16%	0.03%	0.03%
CVI	D	0.03%	0.1%	0.03%
CWEN	C	0.15%	0.02%	0.02%
CXT	C	0.09%	0.05%	0.05%
CXW	B	0.11%	0.21%	0.11%
DAN	F	0.02%	0.08%	0.02%
DDS	B	0.31%	0.19%	0.19%
DEI	B	0.0%	0.03%	0.0%
DFIN	D	0.11%	0.05%	0.05%
DINO	D	0.01%	0.21%	0.01%
DNB	B	0.03%	0.05%	0.03%
DNOW	B	0.1%	0.14%	0.1%
EIG	B	0.0%	0.14%	0.0%
ENS	D	0.04%	0.12%	0.04%
EPC	F	0.01%	0.12%	0.01%
EQC	A	0.07%	0.1%	0.07%
EVTC	B	0.03%	0.02%	0.02%
FAF	C	0.16%	0.04%	0.04%
FHB	B	0.08%	0.06%	0.06%
FHI	B	0.11%	0.06%	0.06%
FHN	A	0.04%	0.17%	0.04%
FLR	B	0.08%	0.05%	0.05%
FULT	B	0.0%	0.08%	0.0%
GEF	B	0.01%	0.13%	0.01%
GEO	A	0.12%	0.1%	0.1%
GES	F	0.15%	0.1%	0.1%
GIII	D	0.02%	0.13%	0.02%
GMS	B	0.08%	0.14%	0.08%
GNW	A	0.0%	0.03%	0.0%
GO	C	0.01%	0.05%	0.01%
GPI	B	0.22%	0.18%	0.18%
HCC	B	0.06%	0.22%	0.06%
HELE	C	0.04%	0.13%	0.04%
HIW	D	0.18%	0.09%	0.09%
HLF	C	0.04%	0.05%	0.04%
HOG	F	0.15%	0.18%	0.15%
HOV	D	0.1%	0.1%	0.1%
HP	C	0.1%	0.24%	0.1%
HTH	B	0.11%	0.05%	0.05%
HTZ	C	0.01%	0.15%	0.01%
HWC	B	0.08%	0.1%	0.08%
IDA	A	0.46%	0.1%	0.1%
IMKTA	C	0.24%	0.12%	0.12%
INVA	C	0.09%	0.12%	0.09%
IOSP	C	0.04%	0.05%	0.04%
IVT	A	0.16%	0.03%	0.03%
IVZ	C	0.1%	0.04%	0.04%
JBL	C	0.55%	0.14%	0.14%
JEF	A	0.4%	0.05%	0.05%
JXN	C	0.0%	0.24%	0.0%
KALU	C	0.01%	0.08%	0.01%
KFRC	D	0.16%	0.02%	0.02%
KFY	B	0.02%	0.09%	0.02%
KIM	A	0.16%	0.19%	0.16%
KLG	D	0.04%	0.07%	0.04%
KOS	D	0.05%	0.13%	0.05%
KRC	C	0.12%	0.18%	0.12%
KSS	F	0.08%	0.11%	0.08%
LADR	B	0.06%	0.1%	0.06%
LFUS	D	0.05%	0.04%	0.04%
LPX	B	0.41%	0.09%	0.09%
LSTR	D	0.1%	0.04%	0.04%
LXP	D	0.07%	0.02%	0.02%
M	D	0.19%	0.17%	0.17%
MAT	D	0.12%	0.04%	0.04%
MATX	B	0.21%	0.2%	0.2%
MDU	D	0.04%	0.16%	0.04%
MIDD	D	0.08%	0.08%	0.08%
MLI	B	0.49%	0.1%	0.1%
MMS	D	0.04%	0.07%	0.04%
MRC	B	0.09%	0.11%	0.09%
MSM	D	0.02%	0.09%	0.02%
MTG	D	0.09%	0.21%	0.09%
MTRN	C	0.1%	0.03%	0.03%
MUR	F	0.19%	0.21%	0.19%
NAVI	F	0.19%	0.1%	0.1%
NBTB	B	0.0%	0.03%	0.0%
NDSN	D	0.18%	0.08%	0.08%
NFG	A	0.13%	0.17%	0.13%
NJR	A	0.14%	0.04%	0.04%
NOV	D	0.12%	0.22%	0.12%
NSP	F	0.11%	0.04%	0.04%
NWN	A	0.01%	0.1%	0.01%
NX	C	0.03%	0.08%	0.03%
NXST	C	0.07%	0.13%	0.07%
OC	A	0.18%	0.39%	0.18%
ODP	F	0.11%	0.04%	0.04%
OFG	B	0.0%	0.05%	0.0%
OGE	A	0.12%	0.13%	0.12%
OGS	A	0.13%	0.13%	0.13%
OI	D	0.03%	0.02%	0.02%
OLN	F	0.09%	0.11%	0.09%
OLPX	D	0.01%	0.02%	0.01%
OMF	A	0.16%	0.15%	0.15%
OMI	F	0.04%	0.06%	0.04%
OPCH	F	0.08%	0.03%	0.03%
ORI	A	0.41%	0.09%	0.09%
OTTR	C	0.06%	0.18%	0.06%
OVV	C	0.25%	0.25%	0.25%
OXM	F	0.06%	0.02%	0.02%
OZK	B	0.08%	0.19%	0.08%
PBF	D	0.02%	0.22%	0.02%
PBH	A	0.09%	0.06%	0.06%
PDCO	F	0.02%	0.09%	0.02%
PEB	F	0.01%	0.07%	0.01%
PFBC	B	0.0%	0.09%	0.0%
PGRE	D	0.16%	0.02%	0.02%
PHIN	B	0.09%	0.11%	0.09%
PII	F	0.01%	0.1%	0.01%
PK	D	0.05%	0.13%	0.05%
PLUS	F	0.07%	0.02%	0.02%
PNFP	B	0.1%	0.05%	0.05%
POR	C	0.07%	0.17%	0.07%
PRDO	B	0.0%	0.12%	0.0%
PRG	C	0.17%	0.1%	0.1%
PRGO	C	0.04%	0.04%	0.04%
PTEN	C	0.11%	0.23%	0.11%
PVH	C	0.17%	0.22%	0.17%
R	B	0.28%	0.2%	0.2%
RDN	D	0.06%	0.21%	0.06%
RHI	C	0.17%	0.05%	0.05%
RIG	D	0.07%	0.14%	0.07%
RLJ	C	0.02%	0.13%	0.02%
RNR	C	0.21%	0.2%	0.2%
RRC	B	0.19%	0.19%	0.19%
RS	B	0.49%	0.47%	0.47%
RUSHA	B	0.06%	0.2%	0.06%
RYN	D	0.06%	0.04%	0.04%
SAH	B	0.04%	0.11%	0.04%
SANM	B	0.22%	0.15%	0.15%
SEE	D	0.0%	0.04%	0.0%
SHO	D	0.01%	0.12%	0.01%
SIG	C	0.26%	0.16%	0.16%
SKY	A	0.15%	0.04%	0.04%
SLM	B	0.16%	0.09%	0.09%
SM	C	0.07%	0.24%	0.07%
SNEX	B	0.07%	0.06%	0.06%
SOLV	F	0.31%	0.17%	0.17%
SON	F	0.09%	0.12%	0.09%
SPB	C	0.15%	0.07%	0.07%
SR	A	0.12%	0.17%	0.12%
SRCE	B	0.16%	0.08%	0.08%
SSB	B	0.02%	0.05%	0.02%
SSTK	F	0.11%	0.06%	0.06%
STWD	C	0.06%	0.04%	0.04%
SWX	A	0.01%	0.13%	0.01%
SYNA	D	0.1%	0.05%	0.05%
TCBI	B	0.03%	0.03%	0.03%
TDS	B	0.04%	0.13%	0.04%
TEX	D	0.19%	0.21%	0.19%
TGNA	B	0.09%	0.14%	0.09%
THO	C	0.13%	0.13%	0.13%
TKR	F	0.17%	0.08%	0.08%
TMHC	B	0.09%	0.22%	0.09%
TNET	F	0.13%	0.09%	0.09%
TOL	B	0.16%	0.43%	0.16%
TPH	D	0.14%	0.2%	0.14%
TPR	B	0.3%	0.05%	0.05%
TRMK	B	0.0%	0.12%	0.0%
TTC	F	0.14%	0.04%	0.04%
UFPI	C	0.23%	0.09%	0.09%
UGI	C	0.1%	0.2%	0.1%
UMBF	B	0.14%	0.05%	0.05%
UNM	A	0.0%	0.21%	0.0%
UPBD	C	0.09%	0.02%	0.02%
UPWK	C	0.01%	0.04%	0.01%
UVV	B	0.06%	0.12%	0.06%
VAC	C	0.07%	0.13%	0.07%
VC	F	0.08%	0.12%	0.08%
VNT	C	0.05%	0.1%	0.05%
VOYA	B	0.17%	0.04%	0.04%
VSH	F	0.09%	0.11%	0.09%
VSTS	F	0.02%	0.09%	0.02%
WAFD	B	0.12%	0.05%	0.05%
WAL	B	0.1%	0.05%	0.05%
WBS	A	0.05%	0.17%	0.05%
WCC	B	0.2%	0.16%	0.16%
WD	D	0.02%	0.04%	0.02%
WGO	D	0.05%	0.08%	0.05%
WS	B	0.22%	0.13%	0.13%
WTFC	B	0.02%	0.1%	0.02%
WTS	B	0.12%	0.04%	0.04%
XHR	B	0.03%	0.07%	0.03%
XRX	F	0.18%	0.08%	0.08%
YETI	D	0.08%	0.05%	0.05%
ZION	B	0.24%	0.16%	0.16%

SMLF Overweight 570 Positions Relative to FAB

Symbol	Grade	Weight
APP	A	1.49%
EME	A	0.94%
EVR	B	0.81%
MSTR	A	0.73%
DECK	A	0.72%
AXON	A	0.66%
SFM	A	0.6%
ALSN	B	0.56%
NTNX	B	0.56%
MANH	D	0.5%
SLG	B	0.49%
NVT	C	0.49%
CVNA	A	0.46%
IBKR	A	0.45%
FIX	A	0.44%
DUOL	A	0.44%
COCO	A	0.43%
WSM	D	0.42%
PCOR	C	0.42%
CSL	C	0.41%
IOT	A	0.41%
VNO	C	0.41%
HRB	D	0.4%
NTRA	A	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
EWBC	A	0.39%
POWL	C	0.38%
UTHR	C	0.38%
DKS	D	0.38%
MEDP	D	0.38%
BRX	A	0.37%
AM	A	0.37%
WING	D	0.36%
CNM	C	0.36%
WFRD	F	0.35%
CR	A	0.35%
AYI	B	0.35%
PIPR	B	0.34%
CAVA	C	0.34%
WK	C	0.34%
LAMR	D	0.33%
JHG	B	0.31%
HSII	B	0.31%
WSO	A	0.31%
ITT	A	0.31%
FLEX	B	0.31%
FR	C	0.31%
MAC	A	0.31%
THC	C	0.31%
SPXC	A	0.3%
CORT	C	0.3%
ANF	C	0.3%
CHE	F	0.3%
GGG	B	0.3%
EXE	A	0.29%
TTEK	F	0.29%
STRL	A	0.29%
PSTG	F	0.29%
PRI	A	0.28%
INTA	B	0.27%
SN	D	0.27%
FCNCA	A	0.27%
SMAR	A	0.26%
ESTC	C	0.26%
GPK	D	0.26%
AMH	C	0.25%
MOD	A	0.25%
HURN	B	0.25%
CFR	B	0.25%
TPX	B	0.24%
CPRX	C	0.24%
CBSH	A	0.24%
TREX	D	0.24%
RMBS	C	0.24%
SKT	A	0.24%
HALO	F	0.24%
EXEL	B	0.24%
CW	B	0.23%
ENTG	F	0.23%
GAP	D	0.23%
LSCC	D	0.23%
YOU	D	0.23%
EXLS	B	0.23%
RPM	B	0.22%
COKE	C	0.22%
AXSM	B	0.22%
TOST	A	0.21%
BLD	F	0.21%
AZPN	A	0.21%
SRPT	F	0.2%
ETSY	D	0.2%
LIVN	D	0.2%
RDDT	A	0.2%
XRAY	D	0.2%
ELF	C	0.2%
RRX	B	0.2%
DTM	A	0.2%
DNLI	C	0.2%
HAE	C	0.2%
TPG	A	0.2%
LUMN	C	0.2%
RNG	C	0.19%
SMG	C	0.19%
JOE	F	0.19%
CROX	F	0.19%
ACM	B	0.19%
GH	B	0.19%
HAS	D	0.19%
HLI	B	0.18%
PRGS	B	0.18%
KNSL	B	0.18%
TDOC	D	0.18%
VCYT	B	0.18%
ESAB	C	0.18%
USFD	A	0.18%
GLPI	C	0.18%
FROG	C	0.18%
DCI	B	0.18%
MMYT	B	0.17%
ACLX	C	0.17%
LNW	F	0.17%
BRC	C	0.17%
LNTH	F	0.17%
PDM	D	0.17%
KRG	A	0.17%
XPO	B	0.17%
EXTR	C	0.17%
PRKS	B	0.17%
JBSS	F	0.17%
SF	B	0.17%
ALLE	D	0.16%
BL	C	0.16%
BMI	C	0.16%
WTM	A	0.16%
LRN	A	0.16%
GME	C	0.16%
TNL	B	0.16%
AGNC	C	0.16%
GATX	B	0.15%
LBTYA	F	0.15%
GNRC	B	0.15%
SBGI	B	0.15%
ONON	B	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%
ESI	B	0.15%
RGLD	C	0.14%
ATI	C	0.14%
VSTO	A	0.14%
IGT	F	0.14%
BANF	B	0.14%
MMSI	A	0.14%
NOVT	D	0.14%
IONS	F	0.14%
PI	D	0.14%
BRKR	F	0.14%
ENSG	D	0.14%
UA	C	0.14%
YEXT	B	0.14%
PCTY	B	0.14%
SCI	A	0.14%
AY	A	0.14%
SPT	C	0.14%
SSD	D	0.14%
BLKB	B	0.13%
VMEO	C	0.13%
BPMC	C	0.13%
IPAR	C	0.13%
ACCO	B	0.13%
BRZE	C	0.13%
BWXT	A	0.13%
GOLF	B	0.13%
RYAN	B	0.13%
KAI	B	0.13%
BDN	C	0.13%
QLYS	C	0.13%
SFBS	B	0.13%
FYBR	C	0.13%
NUVL	D	0.13%
AA	A	0.13%
INSP	F	0.12%
AROC	A	0.12%
AWR	A	0.12%
SAIA	C	0.12%
KBR	F	0.12%
BASE	C	0.12%
SATS	C	0.12%
ACLS	F	0.12%
NYT	D	0.12%
GFF	B	0.12%
WH	B	0.12%
WEN	C	0.12%
AIT	B	0.12%
CBT	C	0.12%
BSY	D	0.12%
NTCT	C	0.11%
CYTK	D	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
IBOC	B	0.11%
PARA	D	0.11%
OII	B	0.11%
LOVE	A	0.11%
CUBE	C	0.11%
MFA	D	0.11%
ACAD	C	0.11%
CRUS	F	0.11%
CARG	B	0.11%
SPSC	F	0.11%
BAND	D	0.11%
CHX	C	0.11%
APOG	B	0.11%
MCB	B	0.11%
MDGL	C	0.11%
BCRX	D	0.11%
KW	B	0.1%
CHDN	C	0.1%
EXPI	C	0.1%
CRDO	B	0.1%
VECO	F	0.1%
NNN	C	0.1%
HUN	F	0.1%
ICFI	F	0.1%
X	C	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	F	0.1%
AGM	B	0.1%
KLIC	C	0.1%
INSM	C	0.1%
WMS	F	0.1%
VRNS	D	0.1%
HIMS	C	0.1%
EEFT	C	0.09%
MTSI	B	0.09%
WSC	F	0.09%
JACK	D	0.09%
MTN	C	0.09%
PCVX	D	0.09%
HEES	C	0.09%
ATEN	A	0.09%
APG	C	0.09%
HI	C	0.09%
LGND	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
IDCC	B	0.09%
PLNT	A	0.09%
EGP	D	0.09%
OHI	B	0.09%
COUR	F	0.09%
DVAX	C	0.09%
AMLX	C	0.09%
WEX	F	0.09%
CRS	A	0.09%
EXPO	D	0.09%
FIVN	C	0.08%
TENB	D	0.08%
LILA	F	0.08%
CVLT	B	0.08%
VIR	F	0.08%
RGEN	F	0.08%
PEGA	B	0.08%
ELAN	D	0.08%
MKSI	C	0.08%
SCS	B	0.08%
OSCR	C	0.08%
PD	C	0.08%
KN	B	0.08%
MASI	B	0.08%
WOR	F	0.08%
CACC	F	0.08%
DLX	B	0.08%
VFC	C	0.08%
BOX	B	0.08%
NSSC	F	0.08%
AGX	B	0.08%
CARS	C	0.08%
BDC	B	0.08%
ALV	C	0.08%
CSWI	A	0.08%
AFRM	A	0.07%
UNIT	B	0.07%
CLH	C	0.07%
DH	F	0.07%
HASI	F	0.07%
AMRX	C	0.07%
PEN	B	0.07%
EYPT	D	0.07%
WYNN	D	0.07%
MATV	F	0.07%
AMPH	F	0.07%
AMPL	B	0.07%
FLNC	C	0.07%
WLY	B	0.07%
NBR	D	0.07%
EPAC	B	0.07%
NTB	B	0.07%
GKOS	A	0.07%
DOMO	C	0.07%
GCO	C	0.07%
KNF	B	0.07%
TXRH	B	0.07%
NARI	C	0.07%
CEIX	A	0.07%
WNC	D	0.07%
NVST	C	0.06%
AVXL	C	0.06%
YELP	C	0.06%
AVDX	B	0.06%
GPMT	B	0.06%
COTY	F	0.06%
S	B	0.06%
FN	B	0.06%
TNC	F	0.06%
NXT	D	0.06%
ILPT	D	0.06%
HWKN	B	0.06%
AMCX	C	0.06%
TRN	A	0.06%
MCY	B	0.06%
CTBI	B	0.06%
MPW	F	0.06%
BRBR	A	0.06%
ITCI	B	0.06%
VKTX	F	0.06%
FUN	C	0.06%
NSIT	F	0.06%
SOFI	A	0.06%
FLO	D	0.06%
WTTR	A	0.06%
CASY	A	0.06%
IRTC	C	0.06%
ADEA	C	0.06%
BCO	F	0.06%
SFL	D	0.06%
AIV	C	0.06%
ADMA	C	0.06%
APPF	C	0.06%
AZEK	B	0.06%
HE	C	0.06%
KD	A	0.06%
MED	F	0.06%
FOLD	F	0.05%
AVAV	C	0.05%
ITGR	B	0.05%
SNV	B	0.05%
ACI	C	0.05%
FFIN	B	0.05%
SONO	C	0.05%
PZZA	F	0.05%
ITRI	B	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
TILE	B	0.05%
BEAM	C	0.05%
SITE	D	0.05%
CERS	D	0.05%
AMBC	C	0.05%
PATH	C	0.05%
HOUS	D	0.05%
MERC	F	0.05%
TARS	C	0.05%
SMTC	C	0.05%
ZIP	D	0.05%
THR	B	0.05%
APLS	F	0.05%
ASAN	C	0.05%
WBA	F	0.05%
MDXG	A	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%
PFSI	C	0.04%
KREF	D	0.04%
OUT	A	0.04%
DIN	C	0.04%
LPG	F	0.04%
FLYW	B	0.04%
AGS	A	0.04%
IDT	B	0.04%
SANA	F	0.04%
TPB	A	0.04%
ANAB	F	0.04%
NATL	B	0.04%
RVMD	B	0.04%
CELH	F	0.04%
AGYS	A	0.04%
ARRY	F	0.04%
ROKU	D	0.04%
BILL	B	0.04%
CFFN	B	0.04%
ANGI	F	0.04%
IBP	F	0.04%
NHI	D	0.04%
ACHC	F	0.04%
HSTM	A	0.04%
BCPC	B	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	D	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	B	0.03%
MOG.A	B	0.03%
LTH	C	0.03%
SUPN	B	0.03%
FL	F	0.03%
VNDA	C	0.03%
RGNX	D	0.03%
VCEL	A	0.03%
EMBC	D	0.03%
TGTX	B	0.03%
BBIO	F	0.03%
QXO	C	0.03%
OFIX	B	0.03%
CIEN	B	0.03%
VIRT	A	0.03%
QDEL	F	0.03%
REVG	B	0.03%
SNBR	F	0.03%
RYI	C	0.03%
CHWY	B	0.03%
IESC	A	0.03%
UDMY	D	0.03%
ARCH	B	0.03%
SLAB	F	0.03%
BRSP	C	0.03%
CDP	C	0.03%
MGNI	A	0.03%
HNI	B	0.03%
ACCD	F	0.03%
VITL	D	0.03%
CGEM	F	0.03%
IVR	D	0.03%
RPD	C	0.03%
SPRY	C	0.03%
ATRC	C	0.03%
CNS	B	0.03%
RLI	A	0.03%
RKT	F	0.03%
UVE	A	0.03%
NRC	F	0.03%
OLED	F	0.03%
BKD	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
CACI	C	0.02%
SLVM	C	0.02%
OSIS	A	0.02%
TSE	F	0.02%
KVYO	D	0.02%
UNFI	B	0.02%
ARCT	F	0.02%
OMER	B	0.02%
BRY	F	0.02%
DYN	F	0.02%
EVH	F	0.02%
PRO	C	0.02%
RAMP	C	0.02%
QRTEA	F	0.02%
GPRO	F	0.02%
SAFE	F	0.02%
MSA	D	0.02%
JELD	F	0.02%
EDR	A	0.02%
KRNY	B	0.02%
DOCN	D	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	B	0.02%
NUS	C	0.02%
EPR	D	0.02%
OPI	F	0.02%
IRWD	F	0.02%
FSS	B	0.02%
MTW	C	0.02%
DY	C	0.02%
DBI	F	0.02%
LMAT	A	0.02%
CLVT	D	0.02%
PR	B	0.02%
CRSP	D	0.02%
TLRY	F	0.02%
SITC	D	0.02%
SVC	F	0.02%
TWO	D	0.02%
CNDT	D	0.02%
OPEN	F	0.02%
SNDX	F	0.02%
AKRO	C	0.02%
PTCT	C	0.02%
USNA	C	0.02%
LANC	D	0.02%
CALX	D	0.02%
CWK	C	0.01%
ALGM	F	0.01%
VAL	F	0.01%
PGEN	F	0.01%
ARR	D	0.01%
JAMF	F	0.01%
PCH	D	0.01%
SFIX	B	0.01%
POWI	D	0.01%
FLWS	F	0.01%
TDC	D	0.01%
XPRO	F	0.01%
MBC	F	0.01%
BIGC	C	0.01%
MLAB	F	0.01%
JOBY	B	0.01%
UTL	C	0.01%
WTI	F	0.01%
ZUO	B	0.01%
CRAI	B	0.01%
SWI	B	0.01%
MITK	D	0.01%
NTLA	F	0.01%
VRE	A	0.01%
TR	B	0.01%
ROIV	D	0.01%
TTGT	B	0.01%
HCAT	C	0.01%
OIS	C	0.01%
RBRK	A	0.01%
NGVT	C	0.01%
HQY	A	0.01%
ENVA	B	0.01%
HMST	D	0.01%
CAKE	B	0.01%
STGW	B	0.01%
ENR	B	0.01%
BSIG	A	0.01%
GWRE	A	0.01%
RHP	B	0.01%
PYCR	C	0.01%
MBLY	C	0.01%
OSUR	F	0.01%
HAIN	D	0.01%
SWTX	C	0.01%
NEXA	B	0.01%
HXL	F	0.01%
NFBK	B	0.01%
AEIS	B	0.01%
MAGN	F	0.0%
MC	B	0.0%
CHCO	B	0.0%
GDOT	D	0.0%
EGBN	B	0.0%
BOH	B	0.0%
TBBK	B	0.0%
FBP	B	0.0%
AX	B	0.0%

SMLF Underweight 425 Positions Relative to FAB

Symbol	Grade	Weight
UAL	A	-0.7%
SYF	B	-0.57%
DAL	A	-0.56%
GM	B	-0.56%
PCAR	C	-0.51%
FOXA	B	-0.49%
STLD	B	-0.48%
CVX	A	-0.48%
CINF	A	-0.48%
TROW	B	-0.48%
EOG	A	-0.48%
COP	B	-0.47%
HPE	B	-0.46%
F	C	-0.46%
CTRA	B	-0.46%
XOM	B	-0.45%
WFC	A	-0.45%
AIG	C	-0.45%
HAL	C	-0.45%
VLO	C	-0.45%
CMCSA	B	-0.45%
DVN	F	-0.44%
T	A	-0.44%
NUE	D	-0.43%
COF	B	-0.43%
OXY	F	-0.43%
PSX	C	-0.43%
HBAN	B	-0.42%
KMI	A	-0.42%
MPC	D	-0.42%
EG	D	-0.41%
EQT	A	-0.41%
LNG	A	-0.41%
LEN	D	-0.4%
CFG	B	-0.4%
BG	D	-0.4%
ETR	A	-0.39%
PHM	D	-0.39%
LYB	F	-0.38%
SRE	A	-0.38%
VTRS	A	-0.38%
C	B	-0.38%
CVS	F	-0.38%
ADM	D	-0.38%
CTSH	C	-0.37%
CRBG	B	-0.37%
L	A	-0.37%
XEL	A	-0.37%
FANG	D	-0.37%
INTC	C	-0.37%
FDX	B	-0.37%
ALLY	C	-0.36%
CNP	A	-0.36%
AEE	A	-0.36%
KR	B	-0.36%
SLB	C	-0.36%
ATO	A	-0.36%
HIG	B	-0.35%
CB	C	-0.35%
CF	A	-0.35%
ZBH	C	-0.35%
APTV	F	-0.33%
EXC	C	-0.33%
SNA	B	-0.32%
VZ	C	-0.32%
DG	F	-0.32%
ED	C	-0.32%
ON	F	-0.32%
MS	A	-0.32%
MTB	A	-0.31%
CHTR	B	-0.31%
BAC	A	-0.3%
SWKS	F	-0.3%
IP	A	-0.3%
DHI	D	-0.3%
BKR	B	-0.3%
RF	A	-0.29%
TDY	B	-0.28%
LUV	B	-0.28%
TRV	A	-0.28%
USB	B	-0.28%
FITB	B	-0.28%
NI	A	-0.27%
STT	B	-0.27%
CNC	F	-0.27%
PPL	A	-0.26%
MTDR	C	-0.26%
DGX	A	-0.26%
TXT	D	-0.25%
D	C	-0.25%
NOG	B	-0.25%
LNT	A	-0.25%
AFL	C	-0.25%
EQR	C	-0.25%
ULTA	F	-0.25%
TGT	B	-0.25%
DTE	C	-0.24%
CE	F	-0.24%
BLDR	D	-0.24%
OSK	C	-0.24%
DE	C	-0.24%
EBAY	D	-0.24%
HRL	D	-0.24%
DUK	C	-0.24%
SYY	D	-0.24%
BBY	D	-0.23%
STX	D	-0.23%
RJF	A	-0.23%
KHC	F	-0.23%
AL	B	-0.23%
AEP	C	-0.23%
TAP	B	-0.23%
BIIB	F	-0.22%
NFE	F	-0.22%
URBN	C	-0.22%
CIVI	D	-0.22%
AKAM	F	-0.22%
CADE	B	-0.21%
OKE	A	-0.21%
ZM	B	-0.21%
DOW	F	-0.21%
LBRT	F	-0.2%
PNC	B	-0.2%
DIS	B	-0.2%
G	B	-0.2%
RIOT	C	-0.2%
KEY	B	-0.2%
LBRDK	C	-0.2%
LAD	B	-0.2%
BWA	D	-0.2%
ESNT	D	-0.19%
JBHT	C	-0.19%
TSN	B	-0.19%
LEA	F	-0.19%
CSCO	B	-0.19%
MTH	D	-0.19%
DAR	B	-0.19%
NWSA	B	-0.19%
PKG	B	-0.19%
LNC	B	-0.19%
MGY	A	-0.19%
JAZZ	C	-0.19%
MHO	D	-0.19%
GBDC	B	-0.18%
HRI	C	-0.18%
PNW	B	-0.18%
HPQ	B	-0.18%
ADTN	A	-0.18%
DRI	C	-0.18%
DXC	D	-0.18%
CSX	C	-0.18%
FMC	D	-0.18%
PRU	B	-0.18%
AAP	D	-0.18%
RGA	B	-0.18%
BEN	C	-0.18%
CMS	C	-0.17%
NVR	D	-0.17%
CNXC	F	-0.17%
AVT	C	-0.17%
MOS	D	-0.17%
HST	D	-0.17%
FNF	A	-0.17%
EVRG	A	-0.17%
WEC	A	-0.17%
SSNC	C	-0.17%
MOH	F	-0.16%
KDP	D	-0.16%
HUM	D	-0.16%
KBH	D	-0.16%
ARE	F	-0.16%
SUM	B	-0.16%
FE	C	-0.16%
GBX	B	-0.16%
DOC	D	-0.16%
CARR	D	-0.16%
PPG	F	-0.16%
HSY	F	-0.16%
JNJ	D	-0.16%
EIX	C	-0.16%
AMKR	F	-0.15%
CTOS	B	-0.15%
ECVT	C	-0.15%
WLK	F	-0.15%
JBT	A	-0.15%
FNB	B	-0.15%
ALK	A	-0.15%
UHS	D	-0.15%
GIS	F	-0.15%
COLB	B	-0.15%
CLF	F	-0.15%
GPC	F	-0.15%
ELV	F	-0.14%
KMT	C	-0.14%
WHR	B	-0.14%
TALO	C	-0.14%
INGR	B	-0.14%
ULH	B	-0.14%
PINC	B	-0.14%
VTLE	C	-0.14%
VLY	B	-0.14%
CABO	C	-0.14%
REZI	A	-0.13%
LKQ	F	-0.13%
BTU	C	-0.13%
CRGY	A	-0.13%
SPNT	A	-0.13%
IART	C	-0.13%
PAG	B	-0.13%
APLE	B	-0.13%
GT	C	-0.13%
GPOR	A	-0.13%
GL	C	-0.13%
RES	F	-0.12%
EMN	D	-0.12%
BY	B	-0.12%
ZD	B	-0.12%
PEBO	B	-0.12%
SJM	D	-0.12%
AVA	C	-0.12%
POST	C	-0.12%
INDB	B	-0.12%
PARR	F	-0.12%
PLAB	D	-0.12%
SNX	D	-0.12%
CCS	F	-0.11%
WMK	B	-0.11%
SEB	F	-0.11%
DBRG	F	-0.11%
WKC	D	-0.11%
USM	B	-0.11%
EBC	B	-0.11%
GHC	B	-0.11%
FOR	F	-0.11%
WU	F	-0.11%
FFBC	B	-0.11%
NWE	C	-0.1%
HII	F	-0.1%
CMI	A	-0.1%
ODFL	B	-0.1%
ABCB	B	-0.1%
ABR	B	-0.1%
OEC	C	-0.1%
MLKN	F	-0.1%
PB	A	-0.1%
UBSI	B	-0.1%
LZB	B	-0.1%
BV	C	-0.1%
SBH	B	-0.1%
SEIC	B	-0.1%
HGV	C	-0.1%
SCSC	B	-0.1%
VSCO	A	-0.1%
DRH	B	-0.1%
CMCO	C	-0.1%
OGN	F	-0.1%
AMWD	C	-0.1%
HD	A	-0.09%
FRME	B	-0.09%
WTRG	B	-0.09%
PFG	C	-0.09%
FIVE	F	-0.09%
CRL	D	-0.09%
OMC	C	-0.09%
CLX	A	-0.09%
SBUX	A	-0.09%
ACN	C	-0.09%
COLM	B	-0.09%
WSBC	B	-0.09%
CATY	B	-0.09%
CRK	A	-0.09%
JWN	C	-0.09%
SLGN	A	-0.09%
SASR	B	-0.09%
LHX	B	-0.09%
BNL	D	-0.09%
KNX	B	-0.09%
WRB	B	-0.09%
PLYA	B	-0.09%
ADNT	F	-0.09%
PNM	B	-0.09%
BANR	B	-0.09%
APD	A	-0.09%
LH	B	-0.09%
IEX	B	-0.09%
J	D	-0.09%
ANDE	F	-0.09%
PYPL	B	-0.09%
BOKF	B	-0.09%
BUSE	B	-0.08%
MDLZ	F	-0.08%
WPC	C	-0.08%
MODG	F	-0.08%
WERN	B	-0.08%
AWK	C	-0.08%
REYN	D	-0.08%
MCRI	A	-0.08%
CPB	D	-0.08%
WY	D	-0.08%
PTVE	B	-0.08%
LMT	D	-0.08%
EXPD	D	-0.08%
SNDR	B	-0.08%
ALG	C	-0.08%
HOPE	B	-0.08%
SKX	F	-0.08%
DD	D	-0.08%
FIBK	B	-0.08%
CI	D	-0.08%
IPG	F	-0.08%
FCF	B	-0.08%
MAS	D	-0.08%
HUBG	A	-0.08%
LAUR	A	-0.08%
HOLX	D	-0.08%
MDT	D	-0.08%
FTV	D	-0.08%
TCBK	B	-0.08%
VBTX	B	-0.08%
KEYS	C	-0.08%
GD	D	-0.08%
WSFS	B	-0.08%
PEP	F	-0.08%
HY	D	-0.08%
RNST	B	-0.08%
UPS	C	-0.08%
CTVA	C	-0.08%
SFNC	B	-0.08%
MAA	A	-0.08%
EFSC	B	-0.08%
VRTS	B	-0.08%
LOW	C	-0.08%
TTMI	B	-0.07%
LC	B	-0.07%
LILAK	F	-0.07%
SJW	F	-0.07%
MRTN	C	-0.07%
CAG	F	-0.07%
UNF	B	-0.07%
NKE	F	-0.07%
IPGP	D	-0.07%
DIOD	F	-0.07%
UHAL	D	-0.07%
SBCF	B	-0.06%
GOGO	C	-0.06%
FBNC	B	-0.06%
CSGS	B	-0.06%
KAR	A	-0.06%
DFH	F	-0.06%
NIC	B	-0.06%
HMN	B	-0.06%
CRI	F	-0.06%
GRBK	D	-0.06%
SCVL	F	-0.06%
VSAT	F	-0.06%
LGIH	F	-0.06%
AFG	A	-0.05%
ROG	D	-0.05%
PATK	D	-0.05%
SEM	B	-0.05%
DEA	D	-0.05%
MUSA	B	-0.05%
SHEN	F	-0.05%
THRM	F	-0.05%
LCII	D	-0.05%
PFGC	B	-0.05%
PSMT	D	-0.05%
UCB	A	-0.05%
AUB	B	-0.05%
SCL	D	-0.05%
ARI	C	-0.05%
ALEX	B	-0.05%
GXO	B	-0.05%
LNN	B	-0.05%
KWR	D	-0.05%
STBA	B	-0.05%
DK	D	-0.05%
ROCK	D	-0.05%
ABM	B	-0.05%
ENOV	C	-0.05%
MTX	C	-0.05%
TOWN	B	-0.05%
EPAM	C	-0.05%
BHE	B	-0.05%
NWBI	B	-0.05%
MYRG	C	-0.04%
FBIN	F	-0.04%
IAC	D	-0.04%
FOXF	F	-0.04%
HSIC	C	-0.04%
AVNS	F	-0.04%
CZR	F	-0.04%
FUL	F	-0.04%
MGM	D	-0.04%
FELE	B	-0.04%
AIR	B	-0.03%
HAYW	B	-0.03%
SAFT	B	-0.03%
XPEL	C	-0.03%
HLIO	C	-0.03%
PPBI	B	-0.03%
ROIC	A	-0.03%
SAM	C	-0.03%
FDP	B	-0.03%
BHF	C	-0.03%
BHLB	B	-0.03%
PFS	B	-0.03%
CBU	B	-0.03%
FBK	B	-0.03%
MCW	C	-0.03%
MGPI	F	-0.03%
GIC	F	-0.02%
GPRE	F	-0.02%
JBGS	F	-0.02%
SHOO	D	-0.02%
MSGE	F	-0.02%
RC	D	-0.02%
CMTG	D	-0.02%
SHLS	F	-0.02%
CNXN	D	-0.02%
NVEE	F	-0.02%
NNI	D	-0.02%
STC	B	-0.02%
NMRK	B	-0.02%
MSEX	B	-0.02%