SMLF vs. FAD ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to First Trust MuFirst Trust Multi CG AlphaDEX (FAD)

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

$69.76

Average Daily Volume

68,408

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD 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 Growth 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) Growth 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

$142.77

Average Daily Volume

3,937

Number of Holdings ^*

640

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FAD
30 Days	2.40%	2.80%
60 Days	7.72%	9.19%
90 Days	9.88%	12.54%
12 Months	35.82%	39.69%

250 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FAD	Overlap
ACAD	C	0.11%	0.03%	0.03%
ACLX	C	0.17%	0.14%	0.14%
ADMA	C	0.06%	0.12%	0.06%
AFRM	A	0.07%	0.25%	0.07%
AGM	A	0.1%	0.05%	0.05%
AGNC	C	0.16%	0.08%	0.08%
AGYS	A	0.04%	0.05%	0.04%
AIT	A	0.12%	0.2%	0.12%
AIV	C	0.06%	0.05%	0.05%
ALHC	C	0.03%	0.14%	0.03%
ALLE	D	0.16%	0.12%	0.12%
ALSN	B	0.56%	0.25%	0.25%
ALX	D	0.1%	0.05%	0.05%
AM	A	0.37%	0.04%	0.04%
AMPH	F	0.07%	0.07%	0.07%
AMRX	C	0.07%	0.12%	0.07%
ANF	C	0.3%	0.17%	0.17%
APOG	B	0.11%	0.08%	0.08%
APP	A	1.49%	0.79%	0.79%
APPF	C	0.06%	0.04%	0.04%
AROC	A	0.12%	0.05%	0.05%
ATI	D	0.14%	0.18%	0.14%
AVAV	C	0.05%	0.18%	0.05%
AWR	A	0.12%	0.02%	0.02%
AX	A	0.0%	0.26%	0.0%
AXON	A	0.66%	0.49%	0.49%
AXSM	B	0.22%	0.13%	0.13%
AXTA	A	0.03%	0.09%	0.03%
AYI	A	0.35%	0.15%	0.15%
AZEK	B	0.06%	0.12%	0.06%
BANF	A	0.14%	0.08%	0.08%
BCO	F	0.06%	0.18%	0.06%
BCPC	B	0.04%	0.08%	0.04%
BCRX	D	0.11%	0.1%	0.1%
BDC	B	0.08%	0.14%	0.08%
BEAM	D	0.05%	0.02%	0.02%
BKD	F	0.03%	0.06%	0.03%
BL	B	0.16%	0.03%	0.03%
BLD	F	0.21%	0.15%	0.15%
BLKB	D	0.13%	0.08%	0.08%
BMI	B	0.16%	0.17%	0.16%
BOX	B	0.08%	0.13%	0.08%
BPMC	D	0.13%	0.09%	0.09%
BRBR	A	0.06%	0.14%	0.06%
BRC	C	0.17%	0.07%	0.07%
BRKR	F	0.14%	0.04%	0.04%
BRX	A	0.37%	0.08%	0.08%
BWXT	A	0.13%	0.14%	0.13%
CACI	C	0.02%	0.23%	0.02%
CAKE	A	0.01%	0.08%	0.01%
CARG	A	0.11%	0.08%	0.08%
CARS	B	0.08%	0.02%	0.02%
CASY	B	0.06%	0.27%	0.06%
CBSH	A	0.24%	0.09%	0.09%
CBT	C	0.12%	0.17%	0.12%
CDP	C	0.03%	0.05%	0.03%
CEIX	A	0.07%	0.06%	0.06%
CFR	A	0.25%	0.1%	0.1%
CHCO	A	0.0%	0.08%	0.0%
CHDN	C	0.1%	0.09%	0.09%
CHE	D	0.3%	0.04%	0.04%
CHWY	B	0.03%	0.1%	0.03%
CLH	C	0.07%	0.13%	0.07%
CMPR	F	0.1%	0.05%	0.05%
CNM	F	0.36%	0.04%	0.04%
CNS	B	0.03%	0.13%	0.03%
COKE	C	0.22%	0.19%	0.19%
CORT	B	0.3%	0.24%	0.24%
CPRX	C	0.24%	0.11%	0.11%
CRAI	B	0.01%	0.11%	0.01%
CRDO	C	0.1%	0.19%	0.1%
CROX	F	0.19%	0.09%	0.09%
CRS	A	0.09%	0.23%	0.09%
CRUS	F	0.11%	0.1%	0.1%
CSL	B	0.41%	0.24%	0.24%
CSWI	B	0.08%	0.23%	0.08%
CUBE	C	0.11%	0.07%	0.07%
CVLT	B	0.08%	0.23%	0.08%
CVNA	A	0.46%	0.58%	0.46%
CW	B	0.23%	0.24%	0.23%
DCI	B	0.18%	0.04%	0.04%
DECK	A	0.72%	0.26%	0.26%
DKS	D	0.38%	0.12%	0.12%
DNLI	C	0.2%	0.05%	0.05%
DOCN	D	0.02%	0.07%	0.02%
DOCS	C	0.15%	0.12%	0.12%
DTM	A	0.2%	0.1%	0.1%
DUOL	B	0.44%	0.23%	0.23%
DY	C	0.02%	0.19%	0.02%
EEFT	C	0.09%	0.09%	0.09%
EGP	D	0.09%	0.04%	0.04%
EHC	B	0.05%	0.18%	0.05%
ELAN	C	0.08%	0.04%	0.04%
EME	B	0.94%	0.49%	0.49%
ENSG	D	0.14%	0.21%	0.14%
ENVA	A	0.01%	0.14%	0.01%
EPAC	B	0.07%	0.06%	0.06%
EPR	D	0.02%	0.04%	0.02%
ESAB	B	0.18%	0.1%	0.1%
ESI	B	0.15%	0.04%	0.04%
EVH	F	0.02%	0.08%	0.02%
EWBC	A	0.39%	0.2%	0.2%
EXEL	B	0.24%	0.23%	0.23%
EXLS	B	0.23%	0.2%	0.2%
EXPO	D	0.09%	0.07%	0.07%
FBP	A	0.0%	0.09%	0.0%
FCN	F	0.04%	0.07%	0.04%
FCNCA	A	0.27%	0.4%	0.27%
FFIN	A	0.05%	0.18%	0.05%
FIX	A	0.44%	0.23%	0.23%
FLNC	D	0.07%	0.06%	0.06%
FOLD	F	0.05%	0.02%	0.02%
FR	D	0.31%	0.04%	0.04%
FSS	C	0.02%	0.16%	0.02%
GAP	C	0.23%	0.08%	0.08%
GATX	A	0.15%	0.05%	0.05%
GFF	A	0.12%	0.07%	0.07%
GH	B	0.19%	0.05%	0.05%
GKOS	B	0.07%	0.09%	0.07%
GLPI	D	0.18%	0.08%	0.08%
GME	C	0.16%	0.08%	0.08%
GMED	A	0.03%	0.19%	0.03%
GOLF	A	0.13%	0.05%	0.05%
GPK	D	0.26%	0.08%	0.08%
GWRE	B	0.01%	0.18%	0.01%
HALO	D	0.24%	0.17%	0.17%
HASI	F	0.07%	0.15%	0.07%
HEES	B	0.09%	0.06%	0.06%
HIMS	C	0.1%	0.21%	0.1%
HLI	A	0.18%	0.19%	0.18%
HNI	A	0.03%	0.12%	0.03%
HRB	D	0.4%	0.16%	0.16%
HURN	B	0.25%	0.08%	0.08%
HWKN	C	0.06%	0.11%	0.06%
IBKR	A	0.45%	0.2%	0.2%
IBOC	A	0.11%	0.15%	0.11%
IBP	F	0.04%	0.15%	0.04%
ICFI	F	0.1%	0.07%	0.07%
IDCC	A	0.09%	0.15%	0.09%
IESC	B	0.03%	0.16%	0.03%
INSM	D	0.1%	0.12%	0.1%
INSP	F	0.12%	0.12%	0.12%
INTA	B	0.27%	0.12%	0.12%
IOT	B	0.41%	0.22%	0.22%
IPAR	C	0.13%	0.04%	0.04%
ITCI	B	0.06%	0.1%	0.06%
ITGR	B	0.05%	0.17%	0.05%
ITRI	B	0.05%	0.24%	0.05%
ITT	A	0.31%	0.17%	0.17%
JAMF	F	0.01%	0.02%	0.01%
JANX	C	0.03%	0.11%	0.03%
JOE	F	0.19%	0.02%	0.02%
KAI	A	0.13%	0.14%	0.13%
KD	A	0.06%	0.05%	0.05%
KN	B	0.08%	0.07%	0.07%
KNF	B	0.07%	0.23%	0.07%
KNSL	C	0.18%	0.08%	0.08%
KRG	B	0.17%	0.08%	0.08%
KW	C	0.1%	0.05%	0.05%
LAMR	D	0.33%	0.08%	0.08%
LGND	B	0.09%	0.06%	0.06%
LMAT	A	0.02%	0.1%	0.02%
LNTH	F	0.17%	0.17%	0.17%
LNW	D	0.17%	0.05%	0.05%
LPG	F	0.04%	0.02%	0.02%
LRN	A	0.16%	0.14%	0.14%
LTH	D	0.03%	0.21%	0.03%
LYFT	B	0.1%	0.06%	0.06%
MAC	A	0.31%	0.05%	0.05%
MANH	D	0.5%	0.25%	0.25%
MASI	A	0.08%	0.05%	0.05%
MCY	A	0.06%	0.14%	0.06%
MEDP	D	0.38%	0.04%	0.04%
MGNI	A	0.03%	0.07%	0.03%
MMSI	A	0.14%	0.17%	0.14%
MOD	C	0.25%	0.2%	0.2%
MOG.A	B	0.03%	0.23%	0.03%
MSTR	B	0.73%	0.13%	0.13%
NHI	D	0.04%	0.07%	0.04%
NNN	D	0.1%	0.04%	0.04%
NSSC	F	0.08%	0.02%	0.02%
NTNX	A	0.56%	0.05%	0.05%
NTRA	B	0.4%	0.21%	0.21%
NYT	D	0.12%	0.12%	0.12%
OHI	C	0.09%	0.12%	0.09%
OII	B	0.11%	0.08%	0.08%
OSCR	F	0.08%	0.08%	0.08%
OSIS	A	0.02%	0.07%	0.02%
OUT	A	0.04%	0.09%	0.04%
PCTY	B	0.14%	0.11%	0.11%
PEGA	B	0.08%	0.19%	0.08%
PI	D	0.14%	0.15%	0.14%
PIPR	A	0.34%	0.24%	0.24%
PLNT	A	0.09%	0.14%	0.09%
POWL	C	0.38%	0.18%	0.18%
PRGS	B	0.18%	0.1%	0.1%
PRI	A	0.28%	0.14%	0.14%
PTCT	B	0.02%	0.11%	0.02%
PZZA	D	0.05%	0.02%	0.02%
REVG	A	0.03%	0.13%	0.03%
RGLD	C	0.14%	0.04%	0.04%
RHP	B	0.01%	0.09%	0.01%
RL	B	0.15%	0.19%	0.15%
RLI	A	0.03%	0.09%	0.03%
RNG	B	0.19%	0.09%	0.09%
ROIV	D	0.01%	0.04%	0.01%
RVMD	B	0.04%	0.11%	0.04%
RYAN	A	0.13%	0.13%	0.13%
S	B	0.06%	0.14%	0.06%
SATS	D	0.12%	0.13%	0.12%
SCI	B	0.14%	0.14%	0.14%
SCS	B	0.08%	0.05%	0.05%
SFBS	A	0.13%	0.24%	0.13%
SFM	A	0.6%	0.26%	0.26%
SKT	A	0.24%	0.05%	0.05%
SLG	B	0.49%	0.19%	0.19%
SLVM	B	0.02%	0.13%	0.02%
SMG	D	0.19%	0.14%	0.14%
SMTC	C	0.05%	0.11%	0.05%
SOFI	A	0.06%	0.25%	0.06%
SSD	D	0.14%	0.04%	0.04%
STRL	B	0.29%	0.14%	0.14%
SWI	B	0.01%	0.05%	0.01%
TBBK	A	0.0%	0.12%	0.0%
TGTX	B	0.03%	0.14%	0.03%
THC	C	0.31%	0.42%	0.31%
THR	C	0.05%	0.02%	0.02%
TNC	F	0.06%	0.02%	0.02%
TNL	A	0.16%	0.06%	0.06%
TOST	A	0.21%	0.19%	0.19%
TPG	B	0.2%	0.19%	0.19%
TR	A	0.01%	0.02%	0.01%
TRN	A	0.06%	0.13%	0.06%
TTEK	D	0.29%	0.21%	0.21%
TXRH	A	0.07%	0.18%	0.07%
UTHR	B	0.38%	0.47%	0.38%
VCYT	B	0.18%	0.13%	0.13%
VECO	F	0.1%	0.02%	0.02%
VITL	F	0.03%	0.09%	0.03%
VRNS	D	0.1%	0.12%	0.1%
WEN	C	0.12%	0.03%	0.03%
WING	F	0.36%	0.1%	0.1%
WSM	F	0.42%	0.14%	0.14%
WSO	A	0.31%	0.26%	0.26%
WTM	A	0.16%	0.09%	0.09%
WTTR	A	0.06%	0.09%	0.06%
WYNN	D	0.07%	0.11%	0.07%
XPRO	F	0.01%	0.02%	0.01%
YELP	C	0.06%	0.02%	0.02%
YOU	D	0.23%	0.1%	0.1%

SMLF Overweight 560 Positions Relative to FAD

Symbol	Grade	Weight
EVR	A	0.81%
JBL	C	0.55%
BPOP	C	0.53%
MLI	B	0.49%
RS	B	0.49%
NVT	B	0.49%
IDA	A	0.46%
COCO	B	0.43%
PCOR	B	0.42%
COOP	B	0.41%
LPX	A	0.41%
VNO	B	0.41%
ORI	A	0.41%
JEF	A	0.4%
LBRDA	B	0.4%
GTLB	B	0.39%
WFRD	F	0.35%
CR	A	0.35%
CAVA	B	0.34%
WK	B	0.34%
JHG	A	0.31%
HSII	B	0.31%
FLEX	B	0.31%
SOLV	C	0.31%
DDS	B	0.31%
TPR	A	0.3%
ALKS	B	0.3%
SPXC	A	0.3%
GGG	A	0.3%
EXE	A	0.29%
PSTG	F	0.29%
R	A	0.28%
AGO	A	0.27%
SN	C	0.27%
SMAR	A	0.26%
ESTC	C	0.26%
SIG	B	0.26%
AMH	C	0.25%
OVV	C	0.25%
TPX	A	0.24%
TREX	C	0.24%
RMBS	C	0.24%
AN	D	0.24%
IMKTA	C	0.24%
ZION	A	0.24%
ENTG	F	0.23%
LSCC	D	0.23%
AMG	A	0.23%
UFPI	C	0.23%
BCC	B	0.22%
SANM	B	0.22%
GPI	A	0.22%
APA	F	0.22%
RPM	A	0.22%
WS	B	0.22%
MATX	B	0.21%
RNR	D	0.21%
AR	B	0.21%
AZPN	A	0.21%
SRPT	F	0.2%
ETSY	D	0.2%
LIVN	C	0.2%
RDDT	B	0.2%
XRAY	F	0.2%
ELF	C	0.2%
ATKR	C	0.2%
RRX	B	0.2%
AGCO	D	0.2%
BBWI	C	0.2%
HAE	A	0.2%
WCC	A	0.2%
LUMN	C	0.2%
TEX	D	0.19%
M	C	0.19%
NAVI	D	0.19%
ACM	B	0.19%
MUR	F	0.19%
HAS	D	0.19%
RRC	B	0.19%
XRX	F	0.18%
ARW	D	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
USFD	B	0.18%
HIW	D	0.18%
OC	A	0.18%
FROG	C	0.18%
AVNT	A	0.18%
MMYT	C	0.17%
VOYA	A	0.17%
PVH	C	0.17%
TKR	F	0.17%
PDM	D	0.17%
PRG	A	0.17%
RHI	B	0.17%
XPO	B	0.17%
AIZ	A	0.17%
EXTR	B	0.17%
PRKS	A	0.17%
JBSS	F	0.17%
SF	A	0.17%
KIM	A	0.16%
IVT	B	0.16%
SRCE	A	0.16%
BJ	B	0.16%
SLM	A	0.16%
CVCO	A	0.16%
TOL	B	0.16%
CNO	A	0.16%
FAF	C	0.16%
OMF	A	0.16%
PGRE	C	0.16%
KFRC	D	0.16%
LBTYA	F	0.15%
GNRC	B	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
ONTO	F	0.15%
W	F	0.15%
VMI	B	0.15%
FTAI	A	0.15%
SPB	C	0.15%
ABG	A	0.15%
CWEN	D	0.15%
SKY	A	0.15%
AMR	C	0.14%
UMBF	A	0.14%
VSTO	A	0.14%
IGT	F	0.14%
NOVT	D	0.14%
IONS	F	0.14%
CMC	B	0.14%
NJR	A	0.14%
UA	B	0.14%
TTC	D	0.14%
YEXT	A	0.14%
AY	A	0.14%
SPT	C	0.14%
TPH	D	0.14%
VMEO	B	0.13%
THO	B	0.13%
NFG	A	0.13%
TNET	F	0.13%
ACCO	B	0.13%
OGS	A	0.13%
BRZE	C	0.13%
BDN	D	0.13%
QLYS	C	0.13%
FYBR	C	0.13%
NUVL	D	0.13%
AA	A	0.13%
SR	A	0.12%
MAT	C	0.12%
SAIA	B	0.12%
KBR	D	0.12%
GEO	A	0.12%
BASE	C	0.12%
ACLS	F	0.12%
OGE	A	0.12%
BKE	A	0.12%
WH	A	0.12%
KRC	C	0.12%
NOV	D	0.12%
BSY	D	0.12%
WAFD	A	0.12%
WTS	A	0.12%
NTCT	B	0.11%
FHI	A	0.11%
CYTK	D	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
PARA	C	0.11%
SSTK	F	0.11%
PTEN	D	0.11%
DFIN	D	0.11%
LOVE	A	0.11%
MFA	D	0.11%
HTH	B	0.11%
SPSC	D	0.11%
BAND	C	0.11%
ODP	F	0.11%
CHX	C	0.11%
CXW	B	0.11%
MCB	A	0.11%
MDGL	C	0.11%
NSP	F	0.11%
MTRN	C	0.1%
ASB	A	0.1%
HP	C	0.1%
ACA	B	0.1%
DNOW	A	0.1%
BECN	B	0.1%
EXPI	C	0.1%
PNFP	A	0.1%
IVZ	B	0.1%
UGI	C	0.1%
CRC	B	0.1%
LSTR	D	0.1%
HUN	F	0.1%
HOV	F	0.1%
SYNA	C	0.1%
X	D	0.1%
WAL	A	0.1%
KLIC	C	0.1%
BERY	D	0.1%
WMS	F	0.1%
VSH	F	0.09%
CXT	D	0.09%
MTSI	B	0.09%
WSC	F	0.09%
PHIN	A	0.09%
JACK	D	0.09%
MRC	B	0.09%
MTN	C	0.09%
PCVX	D	0.09%
ATEN	A	0.09%
APG	C	0.09%
PBH	A	0.09%
HI	C	0.09%
CAR	C	0.09%
VERA	B	0.09%
LZ	C	0.09%
FLG	F	0.09%
BC	D	0.09%
ALIT	C	0.09%
TGNA	B	0.09%
TMHC	B	0.09%
INVA	C	0.09%
MTG	C	0.09%
COUR	F	0.09%
UPBD	B	0.09%
DVAX	C	0.09%
AMLX	C	0.09%
OLN	F	0.09%
WEX	F	0.09%
CUBI	B	0.09%
SON	D	0.09%
VC	F	0.08%
FIVN	C	0.08%
TENB	D	0.08%
LILA	F	0.08%
OPCH	F	0.08%
HWC	A	0.08%
VIR	C	0.08%
FLR	B	0.08%
RGEN	D	0.08%
OZK	A	0.08%
CAL	D	0.08%
MKSI	D	0.08%
FHB	A	0.08%
PD	C	0.08%
YETI	F	0.08%
GMS	A	0.08%
WOR	F	0.08%
CACC	D	0.08%
DLX	A	0.08%
VFC	B	0.08%
AGX	B	0.08%
CUZ	B	0.08%
KSS	F	0.08%
MIDD	D	0.08%
ALV	C	0.08%
CNMD	C	0.07%
UNIT	B	0.07%
EQC	A	0.07%
DH	F	0.07%
PEN	B	0.07%
EYPT	D	0.07%
MATV	F	0.07%
VAC	B	0.07%
RIG	D	0.07%
LXP	D	0.07%
POR	D	0.07%
AMPL	C	0.07%
WLY	B	0.07%
NBR	D	0.07%
NTB	B	0.07%
DOMO	C	0.07%
GCO	B	0.07%
ASH	F	0.07%
PLUS	F	0.07%
SM	C	0.07%
SNEX	A	0.07%
NARI	C	0.07%
NXST	D	0.07%
WNC	C	0.07%
NVST	C	0.06%
CC	C	0.06%
AVXL	C	0.06%
OXM	F	0.06%
AVDX	C	0.06%
GPMT	C	0.06%
COTY	F	0.06%
FN	C	0.06%
NXT	C	0.06%
ILPT	F	0.06%
AMCX	C	0.06%
HCC	B	0.06%
CNX	A	0.06%
STWD	D	0.06%
CTBI	A	0.06%
MPW	F	0.06%
VKTX	F	0.06%
RUSHA	B	0.06%
FUN	B	0.06%
ASO	F	0.06%
LADR	A	0.06%
NSIT	F	0.06%
FLO	D	0.06%
RDN	C	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
SFL	F	0.06%
OTTR	C	0.06%
HE	D	0.06%
UVV	B	0.06%
MED	D	0.06%
SNV	A	0.05%
ACI	C	0.05%
CVBF	A	0.05%
SONO	C	0.05%
LBTYK	A	0.05%
TILE	A	0.05%
SITE	D	0.05%
CERS	D	0.05%
AEO	F	0.05%
BLMN	F	0.05%
AMBC	C	0.05%
PATH	D	0.05%
HOUS	F	0.05%
MERC	F	0.05%
KOS	D	0.05%
TARS	B	0.05%
ZIP	D	0.05%
VNT	C	0.05%
WBS	A	0.05%
APLS	F	0.05%
LFUS	D	0.05%
ASAN	C	0.05%
WBA	F	0.05%
PK	C	0.05%
MDXG	A	0.05%
WGO	B	0.05%
LECO	C	0.05%
CENTA	C	0.05%
ARWR	D	0.04%
MAN	F	0.04%
HPP	F	0.04%
STAG	D	0.04%
MDU	D	0.04%
DAWN	D	0.04%
CORZ	B	0.04%
PFSI	D	0.04%
KREF	D	0.04%
DIN	C	0.04%
PRGO	C	0.04%
FLYW	B	0.04%
AGS	A	0.04%
IDT	B	0.04%
ENS	D	0.04%
SANA	F	0.04%
TPB	A	0.04%
SAH	A	0.04%
ANAB	F	0.04%
NATL	B	0.04%
HELE	C	0.04%
KLG	F	0.04%
CELH	F	0.04%
ARRY	C	0.04%
ROKU	D	0.04%
BILL	A	0.04%
CFFN	A	0.04%
OMI	F	0.04%
HLF	C	0.04%
ANGI	F	0.04%
ACHC	F	0.04%
HSTM	B	0.04%
MMS	D	0.04%
FHN	A	0.04%
TDS	B	0.04%
IOSP	C	0.04%
RCUS	F	0.04%
SWIM	D	0.03%
VIAV	B	0.03%
ALRM	C	0.03%
RDFN	D	0.03%
ADT	B	0.03%
CHRD	F	0.03%
SUPN	B	0.03%
FL	F	0.03%
VNDA	C	0.03%
RGNX	F	0.03%
EVTC	C	0.03%
VCEL	A	0.03%
NX	C	0.03%
EMBC	C	0.03%
DNB	B	0.03%
BBIO	F	0.03%
QXO	D	0.03%
OFIX	B	0.03%
XHR	B	0.03%
CIEN	B	0.03%
VIRT	A	0.03%
QDEL	F	0.03%
SNBR	F	0.03%
RYI	B	0.03%
UDMY	D	0.03%
ARCH	B	0.03%
SLAB	F	0.03%
BRSP	B	0.03%
AMN	F	0.03%
ACCD	F	0.03%
CGEM	F	0.03%
IVR	D	0.03%
TCBI	A	0.03%
RPD	C	0.03%
SPRY	C	0.03%
ATRC	C	0.03%
RKT	F	0.03%
UVE	A	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	F	0.03%
CVI	D	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SSB	A	0.02%
MSM	C	0.02%
TSE	F	0.02%
KVYO	C	0.02%
UNFI	A	0.02%
ARCT	F	0.02%
OMER	B	0.02%
VSTS	F	0.02%
BRY	F	0.02%
DYN	F	0.02%
PRO	C	0.02%
RAMP	C	0.02%
QRTEA	F	0.02%
GPRO	F	0.02%
SAFE	F	0.02%
KFY	B	0.02%
MSA	D	0.02%
JELD	F	0.02%
EDR	A	0.02%
KRNY	A	0.02%
DAN	F	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	B	0.02%
NUS	C	0.02%
BMBL	C	0.02%
OPI	F	0.02%
IRWD	D	0.02%
WTFC	A	0.02%
MTW	C	0.02%
DBI	F	0.02%
CLVT	F	0.02%
PR	C	0.02%
RLJ	C	0.02%
PBF	D	0.02%
CRSP	D	0.02%
TLRY	F	0.02%
SITC	D	0.02%
SVC	F	0.02%
TWO	D	0.02%
CNDT	B	0.02%
OPEN	F	0.02%
SNDX	D	0.02%
WD	D	0.02%
AKRO	C	0.02%
GIII	D	0.02%
USNA	C	0.02%
LANC	D	0.02%
ARCB	C	0.02%
PDCO	F	0.02%
CALX	F	0.02%
CWK	B	0.01%
ALGM	F	0.01%
VAL	F	0.01%
DINO	D	0.01%
PGEN	F	0.01%
AIN	C	0.01%
ARR	C	0.01%
PEB	F	0.01%
PCH	D	0.01%
EPC	F	0.01%
SFIX	C	0.01%
POWI	D	0.01%
FLWS	D	0.01%
TDC	F	0.01%
MBC	D	0.01%
BIGC	C	0.01%
MLAB	F	0.01%
GO	C	0.01%
JOBY	B	0.01%
UTL	C	0.01%
WTI	F	0.01%
ZUO	A	0.01%
NWN	A	0.01%
BKH	A	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	A	0.01%
TTGT	C	0.01%
SWX	A	0.01%
HCAT	C	0.01%
OIS	B	0.01%
RBRK	B	0.01%
NGVT	B	0.01%
HQY	A	0.01%
HMST	D	0.01%
AXS	A	0.01%
STGW	B	0.01%
OLPX	D	0.01%
ENR	A	0.01%
BSIG	A	0.01%
GEF	A	0.01%
PYCR	C	0.01%
ASGN	D	0.01%
HTZ	C	0.01%
MBLY	C	0.01%
OSUR	F	0.01%
HAIN	F	0.01%
SWTX	C	0.01%
KALU	C	0.01%
PII	F	0.01%
NEXA	A	0.01%
BYD	A	0.01%
UPWK	B	0.01%
HXL	F	0.01%
NFBK	A	0.01%
SHO	D	0.01%
AEIS	B	0.01%
MAGN	F	0.0%
BFH	A	0.0%
MC	B	0.0%
SEE	B	0.0%
GDOT	C	0.0%
NBTB	A	0.0%
EGBN	A	0.0%
FULT	A	0.0%
EIG	A	0.0%
JXN	B	0.0%
BOH	A	0.0%
DEI	B	0.0%
TRMK	A	0.0%
GNW	A	0.0%
PFBC	A	0.0%
CASH	A	0.0%
UNM	A	0.0%
PRDO	B	0.0%
BKU	A	0.0%
CMA	A	0.0%
OFG	B	0.0%

SMLF Underweight 390 Positions Relative to FAD

Symbol	Grade	Weight
PLTR	A	-0.63%
TRGP	A	-0.53%
RCL	A	-0.52%
VRT	A	-0.51%
DASH	B	-0.5%
GS	A	-0.49%
EXPE	A	-0.49%
VST	A	-0.48%
KKR	A	-0.48%
FICO	A	-0.47%
GDDY	A	-0.47%
WAB	B	-0.46%
HWM	A	-0.46%
URI	B	-0.45%
PWR	A	-0.45%
BK	A	-0.45%
AXP	A	-0.44%
NRG	B	-0.44%
TT	A	-0.43%
CPNG	C	-0.43%
CCL	A	-0.43%
BURL	C	-0.42%
HOOD	A	-0.42%
ALL	A	-0.42%
VTR	C	-0.42%
PGR	B	-0.42%
HEI	A	-0.41%
NVDA	B	-0.41%
IRM	D	-0.41%
GRMN	B	-0.4%
RBLX	B	-0.4%
CEG	D	-0.39%
FI	A	-0.39%
AMP	A	-0.39%
NTRS	A	-0.39%
JPM	A	-0.38%
TMUS	A	-0.38%
ANET	C	-0.38%
NOW	B	-0.38%
LYV	A	-0.38%
PH	A	-0.37%
ORCL	A	-0.37%
HCA	D	-0.37%
TPL	A	-0.37%
ACGL	C	-0.37%
BRO	B	-0.36%
AVGO	C	-0.36%
CTAS	B	-0.36%
GEN	B	-0.36%
BAH	D	-0.36%
PCG	A	-0.35%
LII	B	-0.35%
COST	B	-0.35%
META	C	-0.35%
BSX	B	-0.35%
CAT	B	-0.35%
MSI	A	-0.35%
SHW	B	-0.34%
RMD	C	-0.34%
PM	A	-0.34%
ERIE	F	-0.33%
FSLR	F	-0.33%
ALNY	D	-0.33%
PEG	C	-0.32%
GE	D	-0.32%
IBM	D	-0.32%
TDG	D	-0.31%
APO	A	-0.31%
TTD	B	-0.3%
NEE	C	-0.3%
BKNG	A	-0.29%
GWW	A	-0.28%
HUBB	B	-0.27%
NFLX	A	-0.27%
TYL	B	-0.26%
ISRG	A	-0.26%
HLT	A	-0.26%
WELL	A	-0.26%
NDAQ	A	-0.26%
FTNT	A	-0.26%
QTWO	A	-0.26%
LVS	C	-0.25%
BR	A	-0.25%
AJG	A	-0.25%
COHR	B	-0.25%
SPGI	C	-0.24%
SO	C	-0.24%
ECL	D	-0.24%
ZETA	F	-0.24%
ICE	D	-0.24%
UBER	C	-0.24%
MCO	C	-0.24%
COIN	A	-0.24%
ACIW	B	-0.24%
TJX	A	-0.24%
TSCO	D	-0.24%
NTAP	D	-0.24%
BRK.A	A	-0.24%
FOUR	B	-0.23%
VLTO	D	-0.23%
HLNE	A	-0.23%
PSN	C	-0.22%
PSA	C	-0.22%
XYL	D	-0.22%
EFX	F	-0.22%
KTB	A	-0.22%
AMT	D	-0.21%
RDNT	B	-0.21%
CL	D	-0.21%
WMB	A	-0.2%
FRPT	B	-0.19%
CPAY	A	-0.19%
ADSK	B	-0.19%
MAR	A	-0.19%
AMZN	B	-0.19%
DVA	C	-0.19%
PANW	B	-0.19%
APH	B	-0.19%
TSLA	B	-0.19%
DELL	C	-0.19%
MO	A	-0.18%
DOV	A	-0.18%
IR	A	-0.18%
ORLY	A	-0.18%
CRVL	B	-0.18%
IT	B	-0.18%
EXP	B	-0.18%
ARES	B	-0.18%
ETN	A	-0.18%
AAON	A	-0.18%
BOOT	C	-0.17%
WULF	C	-0.17%
AMGN	D	-0.17%
AZO	C	-0.17%
MMC	C	-0.17%
PAYO	A	-0.17%
KEX	A	-0.17%
BFAM	F	-0.17%
EAT	A	-0.17%
RSG	B	-0.17%
PODD	A	-0.17%
SPG	A	-0.17%
EPRT	C	-0.16%
VICI	C	-0.16%
TKO	C	-0.16%
ROST	D	-0.16%
ROAD	B	-0.16%
ADC	A	-0.16%
MCD	D	-0.16%
ROL	A	-0.16%
PRIM	A	-0.16%
OTIS	D	-0.16%
CBOE	D	-0.16%
NCLH	B	-0.16%
AAPL	C	-0.16%
RKLB	B	-0.16%
RYTM	C	-0.15%
KO	D	-0.15%
O	D	-0.15%
WWW	A	-0.15%
RIVN	F	-0.15%
LLY	F	-0.15%
EXR	C	-0.15%
DOCU	A	-0.15%
AUR	D	-0.15%
CNK	A	-0.14%
STEP	A	-0.14%
FFIV	B	-0.14%
WHD	B	-0.14%
TRUP	A	-0.14%
MPWR	F	-0.14%
FLS	A	-0.14%
FTDR	B	-0.14%
SGBX	F	-0.14%
QCRH	A	-0.14%
PJT	A	-0.14%
ATGE	B	-0.14%
ONB	B	-0.14%
PRCT	B	-0.14%
AWI	A	-0.14%
GVA	A	-0.14%
SKYW	A	-0.13%
KYMR	C	-0.13%
DT	C	-0.13%
PTGX	D	-0.13%
OLLI	D	-0.13%
WWD	B	-0.13%
RNA	C	-0.13%
SBRA	C	-0.13%
TW	B	-0.13%
HOMB	A	-0.13%
PBI	C	-0.13%
USLM	A	-0.13%
LMND	A	-0.12%
AGIO	B	-0.12%
GSHD	A	-0.12%
PTON	B	-0.12%
ASTH	F	-0.12%
CHEF	B	-0.12%
NHC	B	-0.12%
PRM	C	-0.12%
CWAN	B	-0.12%
DSGR	C	-0.12%
MWA	A	-0.11%
RUN	F	-0.11%
LPLA	A	-0.11%
CCOI	B	-0.11%
PRK	A	-0.11%
VCTR	B	-0.11%
OSW	B	-0.11%
SYBT	A	-0.11%
SKWD	A	-0.11%
NBHC	A	-0.11%
MNKD	B	-0.11%
DORM	B	-0.11%
RARE	F	-0.11%
CALM	A	-0.11%
ALKT	B	-0.11%
CDE	D	-0.11%
CENX	A	-0.1%
CRWD	B	-0.1%
PLMR	A	-0.1%
TGLS	A	-0.1%
MIRM	A	-0.1%
MTCH	F	-0.1%
AORT	B	-0.1%
UFPT	C	-0.1%
LFST	C	-0.1%
NRIX	C	-0.09%
MA	A	-0.09%
CIFR	B	-0.09%
COLL	F	-0.09%
WDAY	B	-0.09%
NMIH	D	-0.09%
MBIN	D	-0.09%
WM	B	-0.09%
SEMR	D	-0.09%
BGC	B	-0.09%
WAT	B	-0.09%
VRTX	C	-0.09%
CWST	A	-0.09%
MKTX	C	-0.09%
GOOGL	B	-0.09%
PAYX	B	-0.09%
GPN	B	-0.09%
MU	D	-0.09%
ORA	B	-0.09%
AON	A	-0.09%
SHAK	B	-0.09%
ADP	B	-0.09%
DLR	A	-0.09%
TMDX	F	-0.09%
GERN	F	-0.09%
ATR	B	-0.09%
DBX	C	-0.09%
MSGS	B	-0.09%
SABR	B	-0.09%
IOVA	D	-0.09%
SITM	B	-0.09%
CRM	A	-0.09%
VERX	A	-0.09%
FAST	B	-0.09%
SBAC	D	-0.08%
WT	A	-0.08%
KMB	C	-0.08%
UE	B	-0.08%
ESE	A	-0.08%
A	D	-0.08%
MTD	F	-0.08%
PG	C	-0.08%
NPAB	F	-0.08%
CPT	D	-0.08%
LIN	D	-0.08%
MSCI	A	-0.08%
GABC	A	-0.08%
CHD	A	-0.08%
DKNG	B	-0.08%
LITE	A	-0.08%
ESS	A	-0.08%
BLBD	F	-0.08%
CTRE	D	-0.08%
CMG	B	-0.08%
AVB	A	-0.08%
IRT	A	-0.08%
QCOM	F	-0.08%
HRMY	D	-0.08%
EQIX	B	-0.08%
SYK	A	-0.08%
AES	F	-0.08%
REG	A	-0.08%
MKL	A	-0.08%
ITW	B	-0.08%
PMT	D	-0.07%
CWT	C	-0.07%
FND	F	-0.07%
ADUS	D	-0.07%
VRRM	D	-0.07%
ESRT	D	-0.07%
AOS	F	-0.07%
TWST	F	-0.07%
AZZ	B	-0.07%
CCI	D	-0.07%
KTOS	B	-0.07%
ASPN	F	-0.07%
KLAC	F	-0.07%
ZTS	D	-0.07%
BLFS	D	-0.07%
AAT	C	-0.07%
TNDM	F	-0.06%
IAS	D	-0.06%
PAYC	B	-0.06%
WRBY	A	-0.06%
IIPR	F	-0.06%
HLIT	F	-0.06%
OCUL	C	-0.06%
KNTK	A	-0.06%
CLSK	C	-0.06%
NSA	C	-0.06%
AESI	D	-0.05%
FCPT	C	-0.05%
MYGN	F	-0.05%
GTX	D	-0.05%
CHH	A	-0.05%
ACVA	A	-0.05%
UMH	C	-0.05%
HUMA	F	-0.05%
CPK	A	-0.05%
ANIP	D	-0.05%
ELME	D	-0.05%
GTY	C	-0.05%
LOPE	B	-0.05%
SXT	C	-0.05%
TRMB	A	-0.05%
NXRT	A	-0.05%
CRNX	C	-0.05%
OWL	A	-0.05%
JJSF	C	-0.05%
RXST	F	-0.05%
MARA	B	-0.05%
WDFC	A	-0.05%
MGEE	A	-0.05%
NVAX	F	-0.05%
NEO	C	-0.05%
BANC	A	-0.05%
LKFN	A	-0.05%
ARQT	D	-0.05%
SXI	A	-0.05%
GTLS	A	-0.05%
DAY	B	-0.05%
DRVN	A	-0.05%
TDW	F	-0.04%
TECH	D	-0.04%
UDR	C	-0.04%
U	F	-0.04%
H	B	-0.04%
NEU	C	-0.04%
MAIN	A	-0.04%
CDRE	D	-0.04%
PHR	F	-0.04%
RBC	A	-0.04%
HLX	D	-0.04%
ARDX	F	-0.04%
MORN	B	-0.04%
LCID	F	-0.03%
APAM	A	-0.03%
CLB	C	-0.03%
WABC	A	-0.03%
CBZ	B	-0.03%
PLAY	C	-0.03%
MLNK	C	-0.03%
TGI	A	-0.03%
CTS	B	-0.03%
APPN	B	-0.03%
PAR	A	-0.03%
MIR	A	-0.03%
SOUN	C	-0.03%
CLDX	F	-0.02%
RLAY	F	-0.02%
AZTA	F	-0.02%
AMC	C	-0.02%
GNL	D	-0.02%
ENVX	F	-0.02%
IRDM	C	-0.02%
BXMT	D	-0.02%
ARLO	D	-0.02%
FBRT	C	-0.02%
RRR	D	-0.02%
SMPL	B	-0.02%
LTC	B	-0.02%
STRA	C	-0.02%