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

$65.60

Average Daily Volume

77,471

Number of Holdings ^*

815

* 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

$83.60

Average Daily Volume

3,884

Number of Holdings ^*

660

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FAB
30 Days	1.31%	-0.10%
60 Days	6.97%	4.12%
90 Days	8.42%	7.82%
12 Months	30.08%	25.23%

245 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FAB	Overlap
ABG	D	0.15%	0.18%	0.15%
AEO	C	0.06%	0.14%	0.06%
AGCO	D	0.22%	0.21%	0.21%
AGNC	C	0.19%	0.14%	0.14%
AGO	D	0.24%	0.21%	0.21%
AIN	D	0.01%	0.02%	0.01%
AIZ	A	0.17%	0.1%	0.1%
AMG	C	0.23%	0.23%	0.23%
AMN	F	0.06%	0.08%	0.06%
AN	B	0.27%	0.19%	0.19%
APA	F	0.25%	0.14%	0.14%
APOG	B	0.1%	0.08%	0.08%
AR	C	0.21%	0.04%	0.04%
ARCB	D	0.03%	0.07%	0.03%
ARCH	D	0.03%	0.11%	0.03%
ARW	C	0.22%	0.18%	0.18%
ASB	F	0.08%	0.02%	0.02%
ASGN	D	0.01%	0.09%	0.01%
ASH	F	0.08%	0.11%	0.08%
ASO	D	0.08%	0.23%	0.08%
ATKR	F	0.2%	0.1%	0.1%
AVNT	B	0.19%	0.05%	0.05%
AX	D	0.0%	0.08%	0.0%
AXS	A	0.01%	0.14%	0.01%
AYI	A	0.31%	0.09%	0.09%
BBWI	F	0.22%	0.1%	0.1%
BC	C	0.1%	0.14%	0.1%
BCC	B	0.23%	0.2%	0.2%
BDC	B	0.09%	0.06%	0.06%
BECN	F	0.09%	0.08%	0.08%
BERY	C	0.11%	0.15%	0.11%
BJ	D	0.16%	0.04%	0.04%
BKE	C	0.12%	0.08%	0.08%
BKH	B	0.01%	0.19%	0.01%
BKU	D	0.0%	0.12%	0.0%
BLMN	F	0.07%	0.04%	0.04%
BMBL	F	0.02%	0.03%	0.02%
BPOP	D	0.57%	0.05%	0.05%
BYD	C	0.01%	0.2%	0.01%
CACI	A	0.02%	0.05%	0.02%
CAKE	B	0.01%	0.02%	0.01%
CAR	D	0.08%	0.07%	0.07%
CASH	D	0.0%	0.08%	0.0%
CENTA	F	0.06%	0.09%	0.06%
CHK	C	0.26%	0.21%	0.21%
CHRD	F	0.03%	0.13%	0.03%
CMA	C	0.0%	0.1%	0.0%
CMC	C	0.14%	0.17%	0.14%
CNO	C	0.15%	0.12%	0.12%
CNX	A	0.05%	0.15%	0.05%
COOP	C	0.4%	0.19%	0.19%
CRC	B	0.09%	0.09%	0.09%
CROX	C	0.29%	0.08%	0.08%
CRUS	D	0.14%	0.04%	0.04%
CUBI	F	0.08%	0.11%	0.08%
CUZ	C	0.08%	0.16%	0.08%
CVBF	D	0.0%	0.05%	0.0%
CVCO	A	0.16%	0.03%	0.03%
CVI	F	0.04%	0.18%	0.04%
CWEN	A	0.18%	0.03%	0.03%
CXT	F	0.09%	0.04%	0.04%
CXW	F	0.07%	0.12%	0.07%
DAN	F	0.03%	0.09%	0.03%
DDS	D	0.3%	0.11%	0.11%
DEI	A	0.0%	0.06%	0.0%
DFIN	D	0.12%	0.05%	0.05%
DINO	F	0.01%	0.18%	0.01%
DKS	D	0.42%	0.08%	0.08%
DNB	D	0.03%	0.1%	0.03%
DNOW	F	0.09%	0.11%	0.09%
DTM	A	0.16%	0.09%	0.09%
EHC	B	0.05%	0.05%	0.05%
EIG	B	0.07%	0.13%	0.07%
ENS	C	0.04%	0.08%	0.04%
ENVA	C	0.01%	0.13%	0.01%
EPC	F	0.01%	0.09%	0.01%
EQC	D	0.07%	0.07%	0.07%
EWBC	D	0.32%	0.14%	0.14%
FAF	B	0.17%	0.1%	0.1%
FBP	D	0.21%	0.03%	0.03%
FHB	D	0.07%	0.08%	0.07%
FHI	C	0.1%	0.08%	0.08%
FHN	D	0.04%	0.12%	0.04%
FULT	D	0.0%	0.05%	0.0%
FYBR	C	0.14%	0.23%	0.14%
GAP	F	0.23%	0.11%	0.11%
GEF	C	0.01%	0.13%	0.01%
GEO	F	0.06%	0.06%	0.06%
GES	F	0.19%	0.12%	0.12%
GMS	D	0.08%	0.19%	0.08%
GNW	C	0.0%	0.03%	0.0%
GO	F	0.01%	0.02%	0.01%
GPI	C	0.21%	0.27%	0.21%
HE	F	0.07%	0.13%	0.07%
HELE	D	0.04%	0.06%	0.04%
HI	F	0.08%	0.02%	0.02%
HIW	C	0.2%	0.12%	0.12%
HLF	F	0.04%	0.05%	0.04%
HLI	B	0.16%	0.05%	0.05%
HNI	B	0.03%	0.03%	0.03%
HOG	C	0.19%	0.24%	0.19%
HP	F	0.09%	0.17%	0.09%
HPP	F	0.0%	0.12%	0.0%
HTH	D	0.11%	0.05%	0.05%
HTZ	F	0.01%	0.11%	0.01%
HWC	D	0.07%	0.09%	0.07%
IBOC	D	0.09%	0.1%	0.09%
IDA	B	0.43%	0.09%	0.09%
IMKTA	F	0.26%	0.13%	0.13%
INVA	B	0.1%	0.14%	0.1%
IVZ	C	0.1%	0.05%	0.05%
JBL	D	0.55%	0.28%	0.28%
JEF	B	0.34%	0.05%	0.05%
JELD	D	0.03%	0.08%	0.03%
JXN	B	0.0%	0.25%	0.0%
KALU	D	0.01%	0.04%	0.01%
KFRC	F	0.18%	0.02%	0.02%
KFY	C	0.02%	0.03%	0.02%
KIM	C	0.15%	0.2%	0.15%
KLG	D	0.04%	0.05%	0.04%
KN	D	0.08%	0.07%	0.07%
KOS	F	0.05%	0.07%	0.05%
KRC	C	0.13%	0.21%	0.13%
KSS	D	0.1%	0.11%	0.1%
LANC	F	0.02%	0.04%	0.02%
LFUS	C	0.06%	0.04%	0.04%
LGND	D	0.08%	0.08%	0.08%
LPX	A	0.41%	0.11%	0.11%
LSTR	D	0.1%	0.04%	0.04%
LTH	C	0.03%	0.03%	0.03%
LXP	D	0.08%	0.03%	0.03%
M	F	0.19%	0.1%	0.1%
MAT	C	0.12%	0.05%	0.05%
MATX	B	0.19%	0.18%	0.18%
MCY	B	0.05%	0.06%	0.05%
MDU	C	0.06%	0.18%	0.06%
MIDD	D	0.09%	0.1%	0.09%
MLI	B	0.41%	0.16%	0.16%
MMS	A	0.05%	0.04%	0.04%
MTG	B	0.1%	0.24%	0.1%
MUR	F	0.2%	0.17%	0.17%
NAVI	D	0.2%	0.1%	0.1%
NBTB	D	0.0%	0.03%	0.0%
NFG	A	0.13%	0.18%	0.13%
NJR	C	0.15%	0.09%	0.09%
NOV	F	0.13%	0.17%	0.13%
NVST	D	0.06%	0.05%	0.05%
NWN	B	0.01%	0.13%	0.01%
NX	F	0.03%	0.12%	0.03%
NXST	D	0.08%	0.12%	0.08%
OC	B	0.17%	0.34%	0.17%
ODP	F	0.14%	0.07%	0.07%
OFG	D	0.29%	0.08%	0.08%
OGE	A	0.13%	0.14%	0.13%
OGS	A	0.14%	0.19%	0.14%
OI	D	0.04%	0.08%	0.04%
OII	D	0.1%	0.02%	0.02%
OLN	D	0.12%	0.13%	0.12%
OLPX	C	0.02%	0.11%	0.02%
OMF	D	0.15%	0.12%	0.12%
OMI	F	0.06%	0.08%	0.06%
ORI	A	0.41%	0.09%	0.09%
OVV	F	0.22%	0.17%	0.17%
OXM	F	0.07%	0.02%	0.02%
OZK	F	0.07%	0.17%	0.07%
PARA	F	0.11%	0.04%	0.04%
PBF	F	0.02%	0.14%	0.02%
PBH	D	0.08%	0.05%	0.05%
PCH	C	0.01%	0.05%	0.01%
PDCO	F	0.03%	0.09%	0.03%
PFBC	D	0.0%	0.1%	0.0%
PGRE	D	0.17%	0.03%	0.03%
PHIN	D	0.08%	0.14%	0.08%
PII	D	0.02%	0.13%	0.02%
PLUS	C	0.09%	0.06%	0.06%
PNFP	D	0.08%	0.15%	0.08%
PNM	B	0.11%	0.08%	0.08%
POR	B	0.07%	0.18%	0.07%
PRDO	D	0.0%	0.1%	0.0%
PRG	C	0.18%	0.17%	0.17%
PRGO	F	0.04%	0.08%	0.04%
PTEN	F	0.11%	0.15%	0.11%
PVH	F	0.17%	0.2%	0.17%
R	C	0.26%	0.19%	0.19%
RDN	D	0.0%	0.23%	0.0%
REVG	D	0.03%	0.1%	0.03%
RHI	D	0.16%	0.04%	0.04%
RIG	F	0.07%	0.07%	0.07%
RLJ	D	0.02%	0.12%	0.02%
RNR	A	0.23%	0.25%	0.23%
RRC	D	0.19%	0.11%	0.11%
RS	D	0.48%	0.34%	0.34%
RUSHA	C	0.05%	0.26%	0.05%
RYI	F	0.03%	0.12%	0.03%
RYN	C	0.07%	0.09%	0.07%
SAH	D	0.04%	0.1%	0.04%
SANM	D	0.2%	0.13%	0.13%
SEE	B	0.0%	0.04%	0.0%
SIG	C	0.28%	0.23%	0.23%
SKY	A	0.16%	0.06%	0.06%
SLM	C	0.16%	0.09%	0.09%
SLVM	C	0.02%	0.09%	0.02%
SM	F	0.07%	0.19%	0.07%
SNEX	C	0.07%	0.05%	0.05%
SNV	D	0.04%	0.05%	0.04%
SON	D	0.11%	0.13%	0.11%
SPB	B	0.16%	0.13%	0.13%
SR	A	0.12%	0.13%	0.12%
SRCE	D	0.14%	0.05%	0.05%
SSB	C	0.01%	0.1%	0.01%
SSTK	F	0.13%	0.09%	0.09%
SWX	C	0.01%	0.09%	0.01%
TCBI	C	0.03%	0.05%	0.03%
TEX	F	0.19%	0.2%	0.19%
TGNA	B	0.08%	0.13%	0.08%
THC	C	0.33%	0.2%	0.2%
THO	C	0.13%	0.15%	0.13%
TKR	B	0.2%	0.13%	0.13%
TMHC	B	0.1%	0.26%	0.1%
TPH	B	0.16%	0.2%	0.16%
TRMK	D	0.0%	0.05%	0.0%
UFPI	B	0.24%	0.15%	0.15%
UGI	C	0.11%	0.09%	0.09%
UMBF	C	0.12%	0.1%	0.1%
UNM	A	0.0%	0.19%	0.0%
USFD	C	0.17%	0.05%	0.05%
UTHR	B	0.37%	0.14%	0.14%
UVV	C	0.07%	0.13%	0.07%
VAC	D	0.06%	0.06%	0.06%
VAL	F	0.01%	0.12%	0.01%
VNO	B	0.4%	0.06%	0.06%
VOYA	A	0.17%	0.05%	0.05%
VSH	F	0.11%	0.1%	0.1%
WAFD	D	0.12%	0.06%	0.06%
WAL	C	0.1%	0.17%	0.1%
WBS	D	0.04%	0.18%	0.04%
WCC	C	0.17%	0.13%	0.13%
WD	C	0.03%	0.03%	0.03%
WGO	D	0.05%	0.1%	0.05%
WOR	F	0.08%	0.02%	0.02%
WTFC	C	0.02%	0.13%	0.02%
WTM	D	0.15%	0.19%	0.15%
XHR	C	0.03%	0.05%	0.03%
XRX	F	0.23%	0.02%	0.02%
ZION	D	0.2%	0.09%	0.09%

SMLF Overweight 570 Positions Relative to FAB

Symbol	Grade	Weight
EME	C	0.84%
EVR	C	0.72%
APP	B	0.7%
DECK	C	0.68%
MANH	C	0.53%
WSM	C	0.52%
NTNX	D	0.5%
NVT	D	0.5%
SFM	A	0.48%
ALSN	A	0.48%
WING	B	0.47%
SLG	C	0.46%
HRB	C	0.45%
AXON	A	0.45%
CSL	A	0.42%
FIX	B	0.41%
CNM	F	0.41%
MSTR	C	0.41%
MEDP	F	0.4%
DUOL	B	0.4%
IOT	C	0.4%
AM	A	0.39%
COCO	C	0.39%
PCOR	D	0.38%
IBKR	A	0.37%
LBRDA	C	0.37%
BRX	B	0.37%
WFRD	F	0.37%
LAMR	C	0.36%
FR	C	0.35%
NTRA	B	0.35%
CR	C	0.34%
CHE	B	0.34%
CVNA	A	0.34%
GTLB	D	0.34%
TTEK	B	0.34%
VGR	C	0.33%
SOLV	D	0.33%
CAVA	C	0.32%
ANF	D	0.32%
ITT	B	0.32%
WSO	B	0.31%
MAC	B	0.31%
WK	D	0.31%
XRAY	D	0.31%
GGG	B	0.31%
SN	B	0.3%
PIPR	C	0.3%
ALKS	C	0.3%
PSTG	F	0.3%
SPXC	C	0.3%
POWL	A	0.29%
MOD	C	0.29%
FLEX	B	0.29%
YOU	C	0.29%
GPK	B	0.28%
SMAR	A	0.27%
HALO	D	0.27%
JHG	C	0.27%
ENTG	D	0.27%
TPR	B	0.26%
PRI	A	0.26%
HSII	B	0.26%
AMH	D	0.26%
LBTYA	B	0.26%
FCNCA	D	0.25%
TPX	B	0.25%
COKE	B	0.25%
CORT	B	0.25%
LSCC	D	0.25%
BLD	C	0.25%
HURN	C	0.24%
LNTH	C	0.24%
TREX	D	0.24%
STRL	C	0.24%
SMG	B	0.23%
ETSY	F	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%
AXSM	C	0.22%
AZPN	C	0.22%
DNLI	C	0.22%
CPRX	C	0.22%
LIVN	D	0.21%
ONTO	C	0.21%
CBSH	D	0.21%
JBSS	F	0.21%
RPM	C	0.21%
CFR	D	0.21%
CW	A	0.21%
RMBS	F	0.2%
GLPI	B	0.2%
RRX	C	0.2%
EXLS	B	0.2%
HAE	D	0.19%
TPG	C	0.19%
EXEL	C	0.19%
NDSN	B	0.19%
ELF	F	0.19%
BRKR	D	0.19%
ACM	B	0.19%
LNW	F	0.18%
TDOC	D	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%
ATI	B	0.17%
RNG	F	0.17%
PI	B	0.17%
VCYT	C	0.17%
EXTR	D	0.17%
TOL	A	0.17%
ACLS	F	0.17%
KRG	C	0.17%
TTC	D	0.16%
TOST	B	0.16%
IGT	F	0.16%
ESAB	C	0.16%
IONS	F	0.16%
PRKS	D	0.16%
SSD	C	0.16%
MMYT	D	0.16%
SATS	C	0.16%
SQSP	A	0.16%
BMI	A	0.16%
AMR	F	0.15%
TNL	B	0.15%
RL	B	0.15%
SF	A	0.15%
AY	B	0.15%
NOVT	D	0.15%
ONON	C	0.15%
SPT	F	0.15%
IVT	B	0.15%
ACLX	C	0.15%
GH	F	0.15%
NUVL	B	0.15%
ESI	B	0.15%
TNET	F	0.14%
BSY	D	0.14%
NSP	F	0.14%
MMSI	C	0.14%
SCI	C	0.14%
GME	D	0.14%
UA	B	0.14%
LRN	C	0.14%
BL	D	0.14%
RGLD	C	0.14%
INSP	C	0.14%
SBGI	B	0.14%
ENSG	D	0.14%
SPSC	D	0.13%
HOV	C	0.13%
BRZE	F	0.13%
YEXT	B	0.13%
VECO	F	0.13%
VSTO	D	0.13%
BPMC	F	0.13%
GNRC	B	0.13%
WTS	B	0.13%
NYT	B	0.13%
CUBE	C	0.13%
RYAN	A	0.13%
GOLF	F	0.13%
FTAI	B	0.13%
DOCS	B	0.13%
IPAR	D	0.13%
HUN	B	0.13%
CBT	B	0.13%
BLKB	C	0.13%
MFA	C	0.13%
KBR	D	0.13%
GATX	D	0.13%
XPO	F	0.13%
WMS	D	0.13%
VMI	B	0.13%
XNCR	D	0.13%
AA	C	0.13%
GFF	B	0.12%
CHX	F	0.12%
VRNS	C	0.12%
BWXT	A	0.12%
PCTY	C	0.12%
ALX	C	0.12%
SFBS	D	0.12%
KAI	C	0.12%
NNN	A	0.12%
QLYS	F	0.12%
LILA	B	0.12%
BANF	D	0.12%
AWR	B	0.12%
BCRX	D	0.12%
ACCO	C	0.12%
WEN	C	0.12%
NTCT	C	0.11%
KLIC	D	0.11%
ACAD	F	0.11%
EXPI	C	0.11%
AIT	A	0.11%
CMPR	F	0.11%
WH	C	0.11%
AROC	C	0.11%
BAND	F	0.11%
SYNA	F	0.11%
CYTK	F	0.11%
INSM	D	0.11%
ICFI	C	0.11%
PCVX	B	0.11%
COUR	F	0.11%
OPCH	D	0.11%
OSCR	C	0.11%
EXPO	B	0.11%
WEX	C	0.11%
NSSC	F	0.1%
MTRN	F	0.1%
AAN	D	0.1%
UPBD	F	0.1%
CARG	C	0.1%
SAIA	D	0.1%
OHI	C	0.1%
BASE	F	0.1%
WSC	D	0.1%
NYCB	D	0.1%
KW	C	0.1%
MATV	D	0.1%
SWN	C	0.1%
X	F	0.1%
LAZ	C	0.1%
EGP	D	0.1%
VMEO	C	0.1%
RDDT	C	0.1%
LOVE	B	0.1%
APG	F	0.09%
MPW	C	0.09%
CACC	F	0.09%
LBTYK	A	0.09%
HASI	C	0.09%
EEFT	F	0.09%
NSIT	C	0.09%
YETI	D	0.09%
ALIT	D	0.09%
JACK	F	0.09%
SITC	F	0.09%
CAL	F	0.09%
ACA	C	0.09%
CRS	B	0.09%
MTN	D	0.09%
HIMS	C	0.09%
MCB	C	0.09%
CHDN	D	0.09%
AGM	F	0.09%
LYFT	D	0.08%
TENB	F	0.08%
AMPH	C	0.08%
LZ	D	0.08%
FLR	D	0.08%
CRDO	C	0.08%
WNC	F	0.08%
CARS	F	0.08%
BCO	A	0.08%
FLNC	C	0.08%
PD	F	0.08%
ILPT	D	0.08%
MTSI	C	0.08%
ATEN	C	0.08%
PLNT	C	0.08%
CSWI	B	0.08%
DVAX	D	0.08%
MKSI	F	0.08%
BOX	C	0.08%
SCS	D	0.08%
VFC	B	0.08%
VC	F	0.08%
VERA	C	0.08%
MDGL	F	0.08%
RGEN	F	0.08%
ELAN	D	0.08%
MRC	D	0.08%
ALV	F	0.08%
ADEA	C	0.07%
CLH	C	0.07%
CEIX	B	0.07%
TNC	F	0.07%
OTTR	F	0.07%
GCO	F	0.07%
TXRH	B	0.07%
APPF	C	0.07%
PEGA	C	0.07%
AZEK	B	0.07%
ANAB	D	0.07%
WLY	A	0.07%
SANA	F	0.07%
FLO	C	0.07%
ANGI	C	0.07%
HOUS	C	0.07%
GKOS	C	0.07%
DH	F	0.07%
DLX	F	0.07%
MASI	C	0.07%
AIV	C	0.07%
VIR	F	0.07%
KNF	C	0.07%
CNMD	D	0.07%
VKTX	D	0.07%
SFL	D	0.07%
NTB	D	0.07%
MED	F	0.07%
CVLT	C	0.07%
UNIT	C	0.07%
ACHC	F	0.07%
WYNN	B	0.07%
COTY	F	0.07%
IDCC	A	0.07%
HEES	D	0.07%
PK	D	0.06%
GPMT	D	0.06%
TRN	C	0.06%
MERC	D	0.06%
FN	C	0.06%
WBA	F	0.06%
YELP	F	0.06%
APLS	F	0.06%
AGX	B	0.06%
PEN	D	0.06%
HCC	D	0.06%
CASY	D	0.06%
FIVN	F	0.06%
NXT	F	0.06%
AMLX	D	0.06%
HWKN	A	0.06%
NBR	F	0.06%
LADR	D	0.06%
DOMO	F	0.06%
AMRX	A	0.06%
ADMA	B	0.06%
CC	D	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%
PFSI	C	0.05%
RCUS	F	0.05%
OLED	C	0.05%
ITRI	C	0.05%
MAN	D	0.05%
BKD	D	0.05%
ASAN	F	0.05%
BCPC	C	0.05%
VNT	F	0.05%
ACI	F	0.05%
AVAV	B	0.05%
BEAM	F	0.05%
AMBC	F	0.05%
CTBI	D	0.05%
CERS	F	0.05%
NHI	C	0.05%
RKT	B	0.05%
WTTR	D	0.05%
FOLD	F	0.05%
ITCI	D	0.05%
BRBR	B	0.05%
LPG	F	0.05%
S	D	0.05%
LECO	F	0.05%
ZIP	D	0.05%
SMTC	C	0.05%
AFRM	C	0.05%
EYPT	F	0.05%
CELH	F	0.05%
PATH	D	0.05%
FUN	F	0.05%
IBP	C	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%
CLVT	D	0.04%
SPRY	C	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%
TILE	B	0.04%
TDS	B	0.04%
CGEM	F	0.04%
SOFI	C	0.04%
ARRY	F	0.04%
CFFN	D	0.04%
DAWN	D	0.04%
AGYS	D	0.04%
OUT	C	0.04%
IVR	C	0.04%
RDFN	C	0.04%
AGS	D	0.04%
HSTM	B	0.04%
NATL	D	0.04%
SNBR	C	0.04%
EVH	D	0.04%
SVC	F	0.04%
AVXL	D	0.04%
VITL	C	0.04%
NRC	F	0.04%
FFIN	D	0.04%
KREF	C	0.04%
STAG	D	0.04%
FCN	B	0.04%
ROKU	D	0.04%
IOSP	F	0.04%
SONO	D	0.04%
GIII	C	0.03%
QRTEA	F	0.03%
MOG.A	B	0.03%
TSE	C	0.03%
ALRM	F	0.03%
CIEN	B	0.03%
VNDA	F	0.03%
OFIX	D	0.03%
ATRC	D	0.03%
VIRT	C	0.03%
MGNI	D	0.03%
ADT	D	0.03%
SNDX	F	0.03%
OPEN	F	0.03%
BILL	D	0.03%
EVTC	D	0.03%
RGNX	F	0.03%
EMBC	D	0.03%
SGH	F	0.03%
TWO	D	0.03%
SWIM	B	0.03%
BRSP	D	0.03%
UDMY	F	0.03%
CHWY	C	0.03%
TLRY	F	0.03%
TPB	B	0.03%
DBI	F	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%
UVE	C	0.03%
ARWR	F	0.03%
PRO	F	0.02%
ERAS	D	0.02%
OSUR	F	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%
KRNY	D	0.02%
WOOF	C	0.02%
HMST	B	0.02%
NWL	D	0.02%
HAIN	C	0.02%
VSTS	D	0.02%
BRY	F	0.02%
MTW	F	0.02%
EDR	A	0.02%
LMAT	B	0.02%
GPRO	D	0.02%
DYN	D	0.02%
MSA	D	0.02%
EVRI	B	0.02%
PR	F	0.02%
ARCT	D	0.02%
NUS	F	0.02%
IRWD	F	0.02%
DOCN	C	0.02%
PTCT	C	0.02%
FSS	B	0.02%
AKRO	C	0.02%
EPR	C	0.02%
CNDT	B	0.02%
TGTX	C	0.02%
DY	C	0.02%
JANX	D	0.02%
SUPN	D	0.02%
CRSP	F	0.02%
GMED	D	0.02%
ALHC	C	0.02%
VCEL	F	0.02%
VIAV	C	0.02%
AXTA	C	0.02%
SAFE	C	0.02%
IESC	B	0.02%
USNA	F	0.02%
AMCX	F	0.02%
CWK	C	0.01%
SFIX	F	0.01%
RBRK	F	0.01%
JOBY	F	0.01%
ZUO	F	0.01%
MITK	F	0.01%
PGEN	F	0.01%
TTGT	F	0.01%
SWI	C	0.01%
ARR	D	0.01%
OMER	F	0.01%
BIGC	F	0.01%
CRAI	B	0.01%
PEB	D	0.01%
POWI	F	0.01%
FLWS	F	0.01%
OIS	F	0.01%
TDC	D	0.01%
ALGM	F	0.01%
JAMF	F	0.01%
HQY	B	0.01%
UTL	C	0.01%
UPWK	D	0.01%
WTI	D	0.01%
MBC	B	0.01%
VRE	C	0.01%
TR	D	0.01%
NGVT	D	0.01%
BSIG	C	0.01%
PYCR	D	0.01%
ROIV	D	0.01%
HCAT	D	0.01%
SWTX	F	0.01%
ENR	B	0.01%
STGW	C	0.01%
MLAB	B	0.01%
ALAB	D	0.01%
GWRE	A	0.01%
UNFI	B	0.01%
XPRO	F	0.01%
NFBK	D	0.01%
MBLY	F	0.01%
RHP	C	0.01%
NEXA	B	0.01%
AEIS	D	0.01%
RXT	C	0.01%
HXL	F	0.01%
HYFM	D	0.0%
CHCO	D	0.0%
BFH	D	0.0%
MC	C	0.0%
EGBN	C	0.0%
GDOT	C	0.0%
BOH	F	0.0%
BDN	A	0.0%
TBBK	C	0.0%

SMLF Underweight 415 Positions Relative to FAB

Symbol	Grade	Weight
DHI	B	-0.57%
LEN	B	-0.52%
ETR	A	-0.51%
FOXA	A	-0.51%
UAL	B	-0.5%
EXC	A	-0.49%
T	A	-0.48%
CINF	A	-0.48%
CF	A	-0.48%
BRK.A	C	-0.47%
ACGL	A	-0.47%
CMCSA	B	-0.45%
CVS	D	-0.44%
GPN	F	-0.44%
SYF	C	-0.44%
APTV	D	-0.44%
CE	D	-0.43%
EG	B	-0.43%
ADM	D	-0.42%
MKL	B	-0.42%
GM	D	-0.42%
STLD	C	-0.41%
EOG	D	-0.41%
AEE	A	-0.41%
EQT	C	-0.41%
ATO	A	-0.4%
NUE	D	-0.4%
HPE	C	-0.4%
EBAY	A	-0.4%
UHAL	A	-0.4%
XEL	A	-0.4%
MTB	C	-0.39%
PSX	F	-0.39%
AEP	B	-0.39%
HIG	A	-0.39%
CVX	D	-0.39%
ED	A	-0.39%
MPC	F	-0.39%
CNC	F	-0.38%
WBD	D	-0.38%
CTSH	C	-0.38%
CFG	D	-0.38%
CB	A	-0.38%
PCG	B	-0.38%
CAG	B	-0.38%
BG	D	-0.38%
COP	D	-0.38%
KMI	A	-0.37%
KHC	B	-0.37%
SNA	B	-0.37%
HBAN	C	-0.37%
SJM	B	-0.37%
CTRA	D	-0.37%
FANG	F	-0.36%
F	D	-0.36%
COF	C	-0.36%
VLO	F	-0.36%
VTRS	D	-0.36%
IPG	C	-0.36%
VZ	A	-0.36%
L	D	-0.35%
XOM	B	-0.34%
LYB	D	-0.34%
OXY	F	-0.34%
LNG	D	-0.34%
DVN	F	-0.34%
LKQ	F	-0.33%
AIG	F	-0.33%
WFC	D	-0.32%
TROW	D	-0.32%
BEN	F	-0.31%
EIX	A	-0.3%
BBY	B	-0.3%
WEC	A	-0.3%
AFL	A	-0.3%
D	A	-0.29%
ZM	B	-0.29%
GIS	B	-0.29%
MHO	A	-0.29%
FITB	C	-0.29%
CMS	A	-0.29%
STT	C	-0.29%
LBRDK	C	-0.29%
DGX	C	-0.28%
KR	B	-0.28%
WPC	C	-0.28%
USB	C	-0.28%
DTE	A	-0.28%
RF	C	-0.28%
FE	A	-0.28%
DUK	B	-0.28%
HAL	F	-0.28%
INCY	B	-0.27%
CHTR	D	-0.27%
SRE	A	-0.27%
DE	A	-0.27%
TDY	B	-0.27%
MTH	B	-0.26%
EQR	C	-0.26%
LAD	B	-0.26%
JBHT	D	-0.26%
TEL	D	-0.25%
TXT	D	-0.25%
BKR	B	-0.25%
LUV	C	-0.25%
KBH	C	-0.25%
FMC	B	-0.24%
C	B	-0.24%
BAC	D	-0.24%
CRBG	C	-0.24%
BTU	B	-0.24%
ZBH	F	-0.24%
SWKS	F	-0.23%
CNP	B	-0.23%
TAP	D	-0.23%
ESNT	C	-0.23%
COLB	C	-0.22%
ESGR	D	-0.22%
FDX	D	-0.22%
PYPL	B	-0.22%
SEB	D	-0.21%
UHS	D	-0.21%
FNF	A	-0.21%
VLY	C	-0.21%
LMT	A	-0.21%
HCA	A	-0.21%
DAR	F	-0.21%
NOG	D	-0.2%
KEY	C	-0.2%
PNC	C	-0.2%
SSNC	C	-0.2%
PKG	A	-0.2%
G	A	-0.2%
AL	D	-0.2%
WY	B	-0.2%
NEE	A	-0.2%
PEG	A	-0.2%
LOW	A	-0.2%
OKE	C	-0.19%
CSCO	A	-0.19%
KDP	C	-0.19%
LBRT	F	-0.19%
BWA	C	-0.19%
INTC	D	-0.19%
MDT	A	-0.19%
PNW	A	-0.19%
OMC	A	-0.19%
MOH	D	-0.19%
MOS	F	-0.19%
EVRG	B	-0.19%
TRV	C	-0.19%
APD	C	-0.19%
TGT	C	-0.18%
HSY	D	-0.18%
EPAM	F	-0.18%
DOV	C	-0.18%
PPG	D	-0.18%
DXC	D	-0.18%
MS	B	-0.18%
WRB	B	-0.18%
CADE	D	-0.18%
CPB	D	-0.18%
GS	D	-0.18%
JNJ	C	-0.18%
LNC	D	-0.17%
CNXC	F	-0.17%
HPQ	C	-0.17%
MTDR	F	-0.17%
GPC	D	-0.17%
CLF	D	-0.17%
ARE	D	-0.17%
DOW	B	-0.17%
HRL	F	-0.17%
AVT	B	-0.17%
GL	C	-0.16%
MGY	C	-0.16%
ADTN	C	-0.16%
UAA	B	-0.16%
LEA	F	-0.16%
UPS	D	-0.16%
NRG	A	-0.15%
ALLY	F	-0.15%
BZH	B	-0.15%
NI	A	-0.15%
CCS	C	-0.15%
OSK	F	-0.15%
OGN	D	-0.15%
URBN	F	-0.15%
PAG	D	-0.14%
ATSG	C	-0.14%
LZB	C	-0.14%
NWE	A	-0.14%
EBC	D	-0.14%
ALK	B	-0.14%
GHC	B	-0.14%
BNL	B	-0.14%
EMN	B	-0.14%
NMIH	C	-0.14%
LGIH	C	-0.13%
ALGT	D	-0.13%
FNB	D	-0.13%
JAZZ	F	-0.13%
CZR	C	-0.13%
WMK	D	-0.13%
HII	D	-0.13%
ONB	D	-0.13%
AVA	B	-0.13%
KNX	C	-0.13%
FCF	D	-0.12%
CALM	A	-0.12%
STBA	D	-0.12%
EFSC	D	-0.12%
CABO	F	-0.12%
SBH	B	-0.12%
KOP	F	-0.12%
JBT	B	-0.12%
GDEN	D	-0.12%
WU	D	-0.12%
FRME	D	-0.11%
FFBC	D	-0.11%
CATY	D	-0.11%
SCHL	D	-0.11%
INDB	D	-0.11%
OCFC	C	-0.11%
IPGP	D	-0.11%
SNDR	C	-0.11%
CBRE	A	-0.11%
AAT	C	-0.11%
RC	F	-0.11%
K	B	-0.11%
ADNT	D	-0.11%
MKC	B	-0.1%
PB	D	-0.1%
GT	F	-0.1%
WMT	A	-0.1%
ANDE	D	-0.1%
CMI	B	-0.1%
IAC	C	-0.1%
LILAK	D	-0.1%
NKE	D	-0.1%
ABM	D	-0.1%
SAIC	B	-0.1%
REZI	F	-0.1%
USM	C	-0.1%
BLK	B	-0.1%
LNT	A	-0.1%
POOL	B	-0.1%
HUBG	D	-0.1%
SLGN	A	-0.1%
ABCB	C	-0.1%
VTR	B	-0.1%
CRK	C	-0.1%
CRI	D	-0.1%
WERN	D	-0.1%
VSCO	C	-0.1%
ABR	B	-0.1%
KVUE	C	-0.1%
TSN	D	-0.09%
LHX	A	-0.09%
SNX	C	-0.09%
VBTX	C	-0.09%
CI	C	-0.09%
TSCO	A	-0.09%
COLM	B	-0.09%
MSGE	B	-0.09%
WHR	C	-0.09%
MATW	F	-0.09%
ABT	C	-0.09%
SEIC	B	-0.09%
CTVA	B	-0.09%
SYY	B	-0.09%
PFG	C	-0.09%
SASR	C	-0.09%
MAA	C	-0.09%
DD	B	-0.09%
J	D	-0.09%
FBNC	D	-0.09%
AWK	C	-0.09%
PATK	B	-0.09%
CENX	C	-0.09%
REYN	C	-0.09%
MDLZ	C	-0.09%
HOMB	D	-0.09%
TRGP	C	-0.09%
UBSI	D	-0.09%
BOKF	D	-0.09%
PEBO	D	-0.09%
JCI	B	-0.09%
OMCL	C	-0.08%
ADV	F	-0.08%
FIBK	D	-0.08%
CBRL	D	-0.08%
HGV	F	-0.08%
KMT	C	-0.08%
UNF	B	-0.08%
BXC	D	-0.08%
CTOS	F	-0.08%
ELV	F	-0.08%
TALO	F	-0.08%
NWBI	D	-0.08%
RJF	B	-0.08%
HOPE	D	-0.08%
MCRI	B	-0.08%
REGN	D	-0.08%
SKX	C	-0.08%
BANR	C	-0.08%
PRU	C	-0.08%
KMB	B	-0.08%
EXPD	B	-0.08%
GD	A	-0.08%
PARR	F	-0.08%
SFNC	C	-0.08%
WLK	B	-0.08%
TOWN	D	-0.08%
WTRG	D	-0.08%
CHGG	F	-0.07%
MRTN	D	-0.07%
MODG	F	-0.07%
BIIB	F	-0.07%
HTLD	F	-0.07%
QCOM	D	-0.07%
HUM	F	-0.07%
ICUI	B	-0.07%
CMCO	D	-0.07%
NMRK	B	-0.07%
RNST	D	-0.07%
ECVT	F	-0.07%
WSBC	D	-0.07%
NBHC	D	-0.07%
SJW	D	-0.07%
WSFS	D	-0.07%
LCII	B	-0.06%
CPK	B	-0.06%
VCTR	C	-0.06%
PRIM	C	-0.06%
CSGS	C	-0.06%
CNXN	C	-0.06%
GTY	B	-0.06%
OEC	F	-0.06%
DORM	C	-0.06%
ROIC	B	-0.06%
DIOD	F	-0.06%
ZD	D	-0.06%
AMKR	F	-0.06%
VRTS	F	-0.06%
MLKN	F	-0.06%
AFG	B	-0.05%
BXMT	C	-0.05%
IP	B	-0.05%
HSIC	C	-0.05%
TRS	D	-0.05%
LNN	B	-0.05%
PCRX	F	-0.05%
TFX	B	-0.05%
PTVE	D	-0.05%
EAT	A	-0.05%
BUSE	D	-0.05%
TCBK	D	-0.05%
DEA	D	-0.05%
SAFT	D	-0.05%
CWT	D	-0.05%
CCK	A	-0.05%
GOGO	F	-0.05%
SBCF	D	-0.05%
JLL	B	-0.05%
UCBI	C	-0.05%
PSMT	B	-0.05%
DG	F	-0.05%
AUB	D	-0.05%
ALEX	D	-0.05%
NIC	D	-0.05%
NHC	D	-0.05%
STRA	F	-0.04%
SIGI	D	-0.04%
SEM	D	-0.04%
FOXF	F	-0.04%
KWR	D	-0.04%
BHF	F	-0.04%
SHEN	F	-0.04%
GXO	D	-0.04%
FUL	F	-0.04%
KEX	C	-0.04%
RGA	C	-0.04%
MTX	D	-0.04%
SUM	D	-0.04%
NEOG	D	-0.04%
PPBI	D	-0.03%
HMN	C	-0.03%
NNI	C	-0.03%
ADUS	C	-0.03%
THS	C	-0.03%
SHOO	A	-0.03%
JBGS	C	-0.03%
AAP	F	-0.03%
BHLB	D	-0.03%
FBK	D	-0.03%
MWA	B	-0.03%
STC	C	-0.03%
CBU	D	-0.03%
ATUS	C	-0.03%
PFS	D	-0.03%
BOOT	B	-0.03%
PLXS	B	-0.03%
FDP	B	-0.03%
DK	F	-0.02%
ROG	D	-0.02%
SCL	D	-0.02%
CMTG	F	-0.02%
CTS	D	-0.02%
VSAT	F	-0.02%
ENOV	F	-0.02%
THRM	F	-0.02%
NVEE	F	-0.02%
APAM	C	-0.02%
IART	F	-0.01%