SMLF vs. FELV ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Fidelity Enhanced Large Cap Value ETF (FELV)

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

FELV

Fidelity Enhanced Large Cap Value ETF

FELV Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 1000® Value Index, which is a market capitalization-weighted index designed to measure the performance of the large-cap value segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$32.54

Average Daily Volume

105,833

Number of Holdings ^*

332

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FELV
30 Days	7.55%	3.13%
60 Days	8.72%	5.35%
90 Days	9.84%	6.57%
12 Months	38.08%	28.71%

71 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FELV	Overlap
ACA	A	0.1%	0.17%	0.1%
AIZ	A	0.17%	0.11%	0.11%
ALKS	C	0.3%	0.03%	0.03%
ALLE	C	0.16%	0.54%	0.16%
ALRM	C	0.03%	0.08%	0.03%
AM	A	0.37%	0.04%	0.04%
AMH	C	0.25%	0.11%	0.11%
ANF	F	0.3%	0.28%	0.28%
ARW	D	0.18%	0.06%	0.06%
AXS	A	0.01%	0.01%	0.01%
AXTA	B	0.03%	0.03%	0.03%
AYI	B	0.35%	0.02%	0.02%
BBWI	C	0.2%	0.08%	0.08%
BCC	B	0.22%	0.11%	0.11%
BERY	C	0.1%	0.02%	0.02%
BKH	A	0.01%	0.04%	0.01%
BLD	D	0.21%	0.11%	0.11%
BRX	A	0.37%	0.35%	0.35%
BYD	B	0.01%	0.07%	0.01%
CACI	D	0.02%	0.46%	0.02%
CNO	B	0.16%	0.09%	0.09%
CRC	A	0.1%	0.1%	0.1%
CRUS	D	0.11%	0.09%	0.09%
CVNA	B	0.46%	0.62%	0.46%
CW	C	0.23%	0.05%	0.05%
CWEN	C	0.15%	0.04%	0.04%
CWEN	C	0.15%	0.02%	0.02%
CXT	C	0.09%	0.01%	0.01%
EEFT	B	0.09%	0.12%	0.09%
ENS	F	0.04%	0.11%	0.04%
EXEL	B	0.24%	0.35%	0.24%
EXTR	C	0.17%	0.03%	0.03%
FHI	B	0.11%	0.05%	0.05%
FR	D	0.31%	0.28%	0.28%
GAP	C	0.23%	0.25%	0.23%
GLPI	C	0.18%	0.05%	0.05%
IGT	F	0.14%	0.36%	0.14%
ITRI	C	0.05%	0.02%	0.02%
ITT	A	0.31%	0.18%	0.18%
JXN	C	0.0%	0.15%	0.0%
KD	B	0.06%	0.09%	0.06%
LNW	F	0.17%	0.17%	0.17%
LPX	B	0.41%	0.33%	0.33%
LYFT	C	0.1%	0.07%	0.07%
M	F	0.19%	0.01%	0.01%
MATX	C	0.21%	0.03%	0.03%
MEDP	D	0.38%	0.16%	0.16%
MSA	F	0.02%	0.03%	0.02%
MUR	D	0.19%	0.01%	0.01%
NWL	C	0.02%	0.06%	0.02%
OC	A	0.18%	0.22%	0.18%
OGE	A	0.12%	0.06%	0.06%
SEE	C	0.0%	0.25%	0.0%
SOLV	D	0.31%	0.12%	0.12%
SON	F	0.09%	0.01%	0.01%
SWI	C	0.01%	0.02%	0.01%
TDC	D	0.01%	0.27%	0.01%
TENB	C	0.08%	0.08%	0.08%
TMHC	C	0.09%	0.18%	0.09%
TNL	A	0.16%	0.01%	0.01%
TOL	B	0.16%	0.28%	0.16%
TPH	D	0.14%	0.35%	0.14%
TPR	B	0.3%	0.1%	0.1%
UNM	A	0.0%	0.38%	0.0%
USFD	A	0.18%	0.19%	0.18%
VAC	C	0.07%	0.04%	0.04%
VMI	B	0.15%	0.2%	0.15%
VSTS	C	0.02%	0.06%	0.02%
WCC	B	0.2%	0.07%	0.07%
WOOF	D	0.02%	0.02%	0.02%
WS	C	0.22%	0.03%	0.03%

SMLF Overweight 740 Positions Relative to FELV

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%
SFM	A	0.6%
ALSN	B	0.56%
NTNX	B	0.56%
JBL	C	0.55%
BPOP	C	0.53%
MANH	D	0.5%
SLG	B	0.49%
MLI	B	0.49%
RS	B	0.49%
NVT	B	0.49%
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%
POWL	C	0.38%
UTHR	C	0.38%
DKS	D	0.38%
WING	D	0.36%
CNM	D	0.36%
WFRD	D	0.35%
CR	A	0.35%
PIPR	A	0.34%
CAVA	B	0.34%
WK	B	0.34%
LAMR	C	0.33%
JHG	B	0.31%
HSII	B	0.31%
WSO	A	0.31%
FLEX	B	0.31%
MAC	B	0.31%
DDS	B	0.31%
THC	D	0.31%
SPXC	A	0.3%
CORT	B	0.3%
CHE	D	0.3%
GGG	B	0.3%
EXE	A	0.29%
TTEK	F	0.29%
STRL	A	0.29%
PSTG	D	0.29%
PRI	B	0.28%
R	B	0.28%
AGO	B	0.27%
INTA	B	0.27%
SN	D	0.27%
FCNCA	A	0.27%
SMAR	B	0.26%
ESTC	C	0.26%
SIG	B	0.26%
GPK	C	0.26%
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%
IMKTA	C	0.24%
ZION	B	0.24%
ENTG	D	0.23%
LSCC	D	0.23%
AMG	B	0.23%
YOU	D	0.23%
UFPI	C	0.23%
EXLS	B	0.23%
SANM	B	0.22%
GPI	B	0.22%
APA	D	0.22%
RPM	A	0.22%
COKE	C	0.22%
AXSM	B	0.22%
RNR	C	0.21%
AR	B	0.21%
TOST	B	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%
ATKR	D	0.2%
RRX	B	0.2%
AGCO	D	0.2%
DTM	A	0.2%
DNLI	D	0.2%
HAE	C	0.2%
TPG	A	0.2%
LUMN	C	0.2%
TEX	F	0.19%
RNG	C	0.19%
SMG	C	0.19%
JOE	F	0.19%
CROX	D	0.19%
NAVI	F	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%
TDOC	C	0.18%
NDSN	B	0.18%
VCYT	B	0.18%
ESAB	C	0.18%
HIW	C	0.18%
FROG	C	0.18%
DCI	B	0.18%
AVNT	B	0.18%
MMYT	B	0.17%
VOYA	B	0.17%
PVH	C	0.17%
ACLX	C	0.17%
TKR	D	0.17%
BRC	D	0.17%
LNTH	D	0.17%
PDM	D	0.17%
PRG	C	0.17%
KRG	B	0.17%
RHI	C	0.17%
XPO	B	0.17%
PRKS	B	0.17%
JBSS	F	0.17%
SF	B	0.17%
KIM	A	0.16%
IVT	A	0.16%
SRCE	B	0.16%
BL	B	0.16%
BMI	B	0.16%
BJ	A	0.16%
WTM	A	0.16%
SLM	A	0.16%
LRN	A	0.16%
CVCO	A	0.16%
GME	C	0.16%
AGNC	C	0.16%
FAF	A	0.16%
OMF	A	0.16%
PGRE	F	0.16%
KFRC	D	0.16%
GATX	A	0.15%
LBTYA	F	0.15%
GNRC	C	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
RL	C	0.15%
ONTO	F	0.15%
W	D	0.15%
FTAI	A	0.15%
DOCS	C	0.15%
SPB	C	0.15%
ABG	C	0.15%
SKY	A	0.15%
ESI	B	0.15%
AMR	C	0.14%
UMBF	B	0.14%
RGLD	C	0.14%
ATI	C	0.14%
VSTO	A	0.14%
BANF	B	0.14%
MMSI	A	0.14%
NOVT	D	0.14%
IONS	F	0.14%
PI	D	0.14%
CMC	B	0.14%
BRKR	D	0.14%
NJR	A	0.14%
ENSG	C	0.14%
UA	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%
THO	B	0.13%
IPAR	B	0.13%
NFG	A	0.13%
TNET	F	0.13%
ACCO	C	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%
SFBS	C	0.13%
FYBR	C	0.13%
NUVL	C	0.13%
AA	A	0.13%
SR	A	0.12%
MAT	D	0.12%
INSP	D	0.12%
AROC	A	0.12%
AWR	B	0.12%
SAIA	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	B	0.12%
SATS	D	0.12%
ACLS	F	0.12%
NYT	D	0.12%
GFF	A	0.12%
BKE	B	0.12%
WH	B	0.12%
KRC	B	0.12%
WEN	D	0.12%
NOV	C	0.12%
AIT	B	0.12%
CBT	D	0.12%
BSY	F	0.12%
WAFD	B	0.12%
WTS	B	0.12%
NTCT	C	0.11%
CYTK	F	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
IBOC	B	0.11%
PARA	C	0.11%
SSTK	F	0.11%
PTEN	C	0.11%
OII	B	0.11%
DFIN	D	0.11%
LOVE	A	0.11%
CUBE	C	0.11%
MFA	D	0.11%
ACAD	C	0.11%
HTH	C	0.11%
CARG	B	0.11%
SPSC	D	0.11%
BAND	B	0.11%
ODP	F	0.11%
CHX	C	0.11%
APOG	C	0.11%
CXW	C	0.11%
MCB	B	0.11%
MDGL	B	0.11%
NSP	F	0.11%
BCRX	D	0.11%
KW	C	0.1%
MTRN	C	0.1%
ASB	B	0.1%
CHDN	B	0.1%
HP	C	0.1%
DNOW	B	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%
HOV	D	0.1%
SYNA	C	0.1%
X	B	0.1%
ALX	D	0.1%
CMPR	D	0.1%
AGM	B	0.1%
WAL	B	0.1%
KLIC	B	0.1%
INSM	C	0.1%
WMS	F	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
VSH	F	0.09%
MTSI	B	0.09%
WSC	F	0.09%
PHIN	A	0.09%
JACK	C	0.09%
MRC	B	0.09%
MTN	C	0.09%
PCVX	D	0.09%
HEES	C	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%
IDCC	B	0.09%
PLNT	A	0.09%
EGP	D	0.09%
BC	C	0.09%
ALIT	C	0.09%
TGNA	B	0.09%
OHI	C	0.09%
INVA	D	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	D	0.09%
CUBI	B	0.09%
CRS	B	0.09%
EXPO	D	0.09%
VC	F	0.08%
FIVN	C	0.08%
LILA	D	0.08%
OPCH	D	0.08%
HWC	B	0.08%
CVLT	B	0.08%
VIR	D	0.08%
FLR	B	0.08%
RGEN	D	0.08%
PEGA	B	0.08%
OZK	B	0.08%
CAL	F	0.08%
ELAN	D	0.08%
MKSI	C	0.08%
SCS	C	0.08%
OSCR	D	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%
WOR	F	0.08%
CACC	D	0.08%
DLX	B	0.08%
VFC	C	0.08%
BOX	B	0.08%
NSSC	D	0.08%
AGX	B	0.08%
CUZ	B	0.08%
KSS	F	0.08%
CARS	C	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%
MATV	D	0.07%
RIG	D	0.07%
AMPH	F	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	B	0.07%
FLNC	D	0.07%
WLY	B	0.07%
NBR	C	0.07%
EPAC	C	0.07%
NTB	B	0.07%
GKOS	B	0.07%
DOMO	B	0.07%
GCO	C	0.07%
ASH	F	0.07%
KNF	B	0.07%
PLUS	F	0.07%
SM	B	0.07%
TXRH	B	0.07%
SNEX	B	0.07%
NARI	C	0.07%
CEIX	A	0.07%
NXST	C	0.07%
WNC	C	0.07%
NVST	B	0.06%
CC	C	0.06%
AVXL	B	0.06%
YELP	C	0.06%
OXM	F	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
COTY	F	0.06%
S	B	0.06%
FN	C	0.06%
TNC	D	0.06%
NXT	C	0.06%
ILPT	F	0.06%
HWKN	B	0.06%
AMCX	C	0.06%
HCC	B	0.06%
CNX	A	0.06%
TRN	B	0.06%
STWD	C	0.06%
MCY	A	0.06%
CTBI	B	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%
ASO	F	0.06%
LADR	B	0.06%
NSIT	F	0.06%
SOFI	B	0.06%
FLO	D	0.06%
RDN	D	0.06%
WTTR	A	0.06%
CASY	A	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
BCO	F	0.06%
SFL	D	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%
MED	D	0.06%
FOLD	F	0.05%
AVAV	C	0.05%
ITGR	B	0.05%
SNV	C	0.05%
ACI	C	0.05%
FFIN	B	0.05%
CVBF	A	0.05%
SONO	C	0.05%
PZZA	F	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
TILE	B	0.05%
BEAM	D	0.05%
SITE	F	0.05%
CERS	D	0.05%
AEO	F	0.05%
BLMN	F	0.05%
AMBC	C	0.05%
PATH	C	0.05%
HOUS	F	0.05%
MERC	F	0.05%
KOS	D	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%
WGO	C	0.05%
LECO	C	0.05%
CENTA	C	0.05%
ARWR	D	0.04%
FCN	F	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	C	0.04%
KREF	C	0.04%
OUT	A	0.04%
DIN	C	0.04%
PRGO	C	0.04%
LPG	F	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%
KLG	B	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%
TDS	B	0.04%
IOSP	C	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	C	0.03%
GMED	A	0.03%
ALHC	C	0.03%
VIAV	C	0.03%
RDFN	D	0.03%
ADT	C	0.03%
MOG.A	B	0.03%
LTH	C	0.03%
CHRD	D	0.03%
SUPN	C	0.03%
FL	F	0.03%
VNDA	C	0.03%
RGNX	D	0.03%
EVTC	B	0.03%
VCEL	B	0.03%
NX	C	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%
RYI	C	0.03%
CHWY	B	0.03%
IESC	C	0.03%
UDMY	D	0.03%
ARCH	B	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%
TCBI	C	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%
UVE	B	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	F	0.03%
BKD	F	0.03%
CVI	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
SSB	B	0.02%
SLVM	B	0.02%
OSIS	A	0.02%
MSM	C	0.02%
TSE	F	0.02%
KVYO	C	0.02%
UNFI	A	0.02%
ARCT	F	0.02%
OMER	A	0.02%
BRY	F	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%
JELD	F	0.02%
EDR	A	0.02%
KRNY	C	0.02%
DAN	D	0.02%
DOCN	C	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NUS	D	0.02%
EPR	C	0.02%
BMBL	C	0.02%
OPI	F	0.02%
IRWD	F	0.02%
FSS	B	0.02%
WTFC	A	0.02%
MTW	C	0.02%
DY	D	0.02%
DBI	F	0.02%
LMAT	A	0.02%
CLVT	D	0.02%
PR	B	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	F	0.02%
CNDT	C	0.02%
OPEN	F	0.02%
SNDX	F	0.02%
WD	D	0.02%
AKRO	B	0.02%
PTCT	B	0.02%
GIII	D	0.02%
USNA	C	0.02%
LANC	C	0.02%
ARCB	C	0.02%
PDCO	F	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%
AIN	C	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%
FLWS	D	0.01%
XPRO	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%
CRAI	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%
OIS	B	0.01%
RBRK	A	0.01%
NGVT	B	0.01%
HQY	A	0.01%
ENVA	B	0.01%
HMST	F	0.01%
CAKE	C	0.01%
STGW	A	0.01%
OLPX	D	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%
HTZ	C	0.01%
MBLY	C	0.01%
OSUR	F	0.01%
HAIN	D	0.01%
SWTX	C	0.01%
KALU	C	0.01%
PII	F	0.01%
NEXA	B	0.01%
UPWK	B	0.01%
HXL	F	0.01%
NFBK	C	0.01%
SHO	D	0.01%
AEIS	C	0.01%
MAGN	D	0.0%
BFH	C	0.0%
MC	C	0.0%
CHCO	B	0.0%
GDOT	D	0.0%
NBTB	B	0.0%
EGBN	B	0.0%
FULT	A	0.0%
EIG	B	0.0%
BOH	B	0.0%
DEI	B	0.0%
TRMK	C	0.0%
GNW	A	0.0%
PFBC	B	0.0%
CASH	B	0.0%
TBBK	B	0.0%
FBP	C	0.0%
PRDO	B	0.0%
BKU	A	0.0%
CMA	B	0.0%
AX	B	0.0%
OFG	B	0.0%

SMLF Underweight 261 Positions Relative to FELV

Symbol	Grade	Weight
BRK.A	B	-3.64%
JPM	A	-2.93%
XOM	B	-2.51%
BAC	A	-1.77%
WMT	A	-1.76%
UNH	B	-1.57%
PM	B	-1.31%
PG	C	-1.24%
WFC	A	-1.22%
CMCSA	B	-1.13%
CSCO	B	-1.07%
GE	D	-1.05%
JNJ	C	-1.02%
T	A	-1.02%
GILD	C	-0.92%
SCHW	B	-0.88%
MU	D	-0.86%
PFE	F	-0.85%
ABBV	F	-0.85%
INTC	C	-0.85%
BMY	B	-0.84%
NEE	C	-0.81%
DIS	B	-0.8%
PYPL	B	-0.79%
ETN	A	-0.76%
UNP	C	-0.75%
BDX	F	-0.74%
TMO	F	-0.73%
SQ	A	-0.7%
PNC	B	-0.7%
RTX	D	-0.7%
VZ	C	-0.68%
RSG	A	-0.66%
LMT	D	-0.64%
NOC	D	-0.63%
SPGI	C	-0.63%
BK	A	-0.63%
MMM	D	-0.6%
CI	D	-0.6%
AON	A	-0.59%
SEIC	B	-0.58%
PPG	F	-0.57%
CCI	C	-0.57%
CME	B	-0.57%
NSC	B	-0.57%
TMUS	B	-0.56%
COP	C	-0.56%
ABT	B	-0.54%
CL	D	-0.54%
CAT	B	-0.54%
MS	A	-0.54%
TXT	D	-0.53%
CVX	A	-0.53%
EOG	A	-0.53%
ZM	C	-0.52%
PSA	C	-0.52%
TT	A	-0.52%
ECL	D	-0.5%
QCOM	F	-0.5%
SSNC	B	-0.5%
DD	C	-0.48%
C	A	-0.48%
LDOS	C	-0.47%
COF	C	-0.47%
LIN	C	-0.46%
LHX	C	-0.45%
HD	B	-0.45%
WAB	B	-0.45%
CTAS	B	-0.43%
DBX	B	-0.42%
AMAT	F	-0.42%
MDT	D	-0.4%
PCG	A	-0.39%
PCAR	B	-0.39%
MMC	B	-0.38%
ADBE	C	-0.37%
BLK	B	-0.37%
L	A	-0.35%
PGR	A	-0.35%
EVRG	A	-0.35%
CMI	A	-0.34%
CSX	C	-0.34%
ACN	B	-0.34%
NUE	C	-0.34%
GS	A	-0.34%
DVN	F	-0.34%
FTV	C	-0.33%
STLD	B	-0.33%
F	C	-0.33%
ZBRA	B	-0.32%
KR	B	-0.31%
CVS	D	-0.3%
CAH	B	-0.3%
TWLO	A	-0.3%
BIIB	F	-0.3%
MCD	D	-0.28%
VMC	B	-0.28%
DUK	C	-0.28%
VEEV	C	-0.28%
MO	A	-0.28%
MA	B	-0.28%
GL	C	-0.28%
TRV	B	-0.28%
GEV	B	-0.28%
TJX	A	-0.28%
IBM	C	-0.27%
SYK	B	-0.26%
AME	A	-0.26%
WTW	B	-0.26%
VICI	C	-0.25%
CLX	A	-0.25%
XEL	A	-0.25%
FLS	B	-0.25%
WM	B	-0.25%
EXC	C	-0.24%
KMI	A	-0.24%
TFC	A	-0.24%
CNC	D	-0.23%
CINF	A	-0.22%
ED	C	-0.22%
Z	A	-0.22%
DOCU	B	-0.22%
CRM	B	-0.22%
DOC	C	-0.22%
INCY	C	-0.22%
SKYW	C	-0.21%
MGM	D	-0.21%
META	D	-0.21%
HPE	B	-0.21%
JCI	B	-0.21%
AXP	A	-0.2%
MSI	B	-0.2%
EQIX	A	-0.2%
PNR	A	-0.19%
NFLX	A	-0.19%
DTE	C	-0.19%
FTI	A	-0.19%
ALL	A	-0.19%
BSX	A	-0.19%
MSCI	C	-0.19%
AAPL	C	-0.19%
KEY	B	-0.18%
SPG	A	-0.18%
ICE	C	-0.18%
ZG	A	-0.18%
EIX	B	-0.17%
NVDA	B	-0.17%
DHR	F	-0.17%
PRU	A	-0.17%
IQV	F	-0.17%
MKL	A	-0.17%
CEG	C	-0.17%
EQR	C	-0.17%
GEHC	D	-0.16%
TAP	C	-0.16%
QGEN	D	-0.16%
TXN	C	-0.16%
CCK	D	-0.16%
AES	F	-0.16%
PFG	D	-0.16%
BBY	D	-0.15%
STT	B	-0.15%
CNP	A	-0.15%
ILMN	C	-0.15%
AMGN	F	-0.15%
RCL	A	-0.15%
OXY	D	-0.15%
WDC	D	-0.14%
KMB	C	-0.14%
AMT	C	-0.14%
HUM	C	-0.14%
GD	D	-0.14%
HAL	C	-0.13%
PKG	A	-0.13%
WDAY	B	-0.13%
SWKS	F	-0.13%
CCL	A	-0.13%
ES	C	-0.13%
TROW	B	-0.13%
PH	A	-0.12%
NTAP	C	-0.12%
ITW	B	-0.12%
AVGO	D	-0.12%
SO	C	-0.12%
WMB	A	-0.12%
HWM	A	-0.12%
KHC	F	-0.12%
UHS	D	-0.12%
QRVO	F	-0.11%
EA	A	-0.11%
ROST	D	-0.11%
GRMN	B	-0.11%
ELV	F	-0.11%
BMRN	F	-0.11%
ADTN	A	-0.1%
ADM	D	-0.1%
BKR	A	-0.1%
ADP	A	-0.1%
PEG	A	-0.1%
MHO	D	-0.1%
FANG	C	-0.09%
A	D	-0.09%
TRGP	A	-0.09%
MTDR	B	-0.09%
WBD	B	-0.09%
GPN	B	-0.09%
ACT	C	-0.09%
MCK	A	-0.09%
VRTX	D	-0.09%
AMZN	C	-0.08%
DASH	B	-0.08%
MKC	C	-0.08%
DELL	B	-0.08%
LH	B	-0.08%
HON	C	-0.08%
IFF	D	-0.08%
AEP	C	-0.08%
VST	A	-0.07%
CMG	B	-0.07%
REG	A	-0.07%
LOW	C	-0.07%
NWSA	A	-0.06%
EW	C	-0.06%
UPS	C	-0.06%
LEG	F	-0.06%
MDLZ	F	-0.06%
NMRK	C	-0.06%
DFS	B	-0.05%
TRMB	B	-0.05%
SAM	C	-0.05%
CTRA	B	-0.05%
PLTK	B	-0.05%
GIS	D	-0.05%
NEM	D	-0.05%
ADI	D	-0.04%
VLTO	C	-0.04%
INGR	C	-0.04%
CSGP	D	-0.04%
HL	D	-0.04%
CTRE	C	-0.04%
SYF	B	-0.03%
TFX	F	-0.03%
KLAC	F	-0.03%
UAL	A	-0.03%
RGA	A	-0.03%
RJF	A	-0.03%
DHI	F	-0.03%
NWS	A	-0.03%
AMD	F	-0.02%
OKTA	C	-0.02%
OGN	F	-0.02%
BIO	C	-0.02%
MWA	B	-0.01%
TGT	F	-0.01%
FTDR	B	-0.01%
PHM	D	-0.01%
BLDR	D	-0.01%
ROP	B	-0.01%
DGX	A	-0.01%
ANSS	B	-0.01%
GLW	B	-0.01%