SMLF vs. FLQS ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS)

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

$66.13

Average Daily Volume

76,961

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

FLQS

Franklin LibertyQ U.S. Small Cap Equity ETF

FLQS Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Small Cap Equity Index (the U.S. Small Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Small Cap underlying index. The U.S. Small Cap underlying index is based on the Russell 2000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$41.86

Average Daily Volume

3,976

Number of Holdings ^*

466

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FLQS
30 Days	4.99%	3.34%
60 Days	10.44%	7.38%
90 Days	9.91%	9.54%
12 Months	33.05%	26.32%

189 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FLQS	Overlap
ACAD	F	0.11%	0.25%	0.11%
ACCO	C	0.12%	0.07%	0.07%
ACLS	F	0.17%	0.42%	0.17%
AEO	C	0.06%	0.51%	0.06%
AGYS	D	0.04%	0.16%	0.04%
AIT	B	0.11%	1.1%	0.11%
ALKS	B	0.3%	0.68%	0.3%
ALX	D	0.12%	0.03%	0.03%
AMCX	F	0.02%	0.03%	0.02%
AMN	F	0.06%	0.24%	0.06%
AMR	F	0.15%	0.33%	0.15%
ANF	D	0.32%	0.76%	0.32%
APOG	B	0.1%	0.16%	0.1%
ARCH	D	0.03%	0.32%	0.03%
AROC	B	0.11%	0.31%	0.11%
ASB	D	0.08%	0.41%	0.08%
ASO	D	0.08%	0.6%	0.08%
ATEN	B	0.08%	0.17%	0.08%
ATKR	F	0.2%	0.41%	0.2%
ATRC	C	0.03%	0.18%	0.03%
AWR	B	0.12%	0.43%	0.12%
BASE	F	0.1%	0.04%	0.04%
BCC	C	0.23%	0.74%	0.23%
BCO	C	0.08%	0.74%	0.08%
BDC	A	0.09%	0.57%	0.09%
BDN	B	0.0%	0.07%	0.0%
BKE	B	0.12%	0.22%	0.12%
BLKB	C	0.13%	0.49%	0.13%
BLMN	F	0.07%	0.26%	0.07%
BMI	A	0.16%	0.93%	0.16%
BOX	C	0.08%	0.61%	0.08%
CAKE	A	0.01%	0.36%	0.01%
CAL	F	0.09%	0.18%	0.09%
CALX	C	0.03%	0.27%	0.03%
CARG	C	0.1%	0.3%	0.1%
CEIX	B	0.07%	0.51%	0.07%
CENTA	F	0.06%	0.24%	0.06%
CHCO	D	0.0%	0.21%	0.0%
CMC	D	0.14%	0.78%	0.14%
CMPR	F	0.11%	0.23%	0.11%
CNMD	F	0.07%	0.31%	0.07%
CNO	B	0.15%	0.26%	0.15%
CORT	B	0.25%	0.52%	0.25%
CPRX	C	0.22%	0.31%	0.22%
CRAI	B	0.01%	0.15%	0.01%
CRC	B	0.09%	0.49%	0.09%
CSWI	A	0.08%	0.78%	0.08%
CVBF	B	0.0%	0.28%	0.0%
CVI	D	0.04%	0.09%	0.04%
CVLT	B	0.07%	1.13%	0.07%
DBI	F	0.03%	0.03%	0.03%
DFIN	B	0.12%	0.22%	0.12%
DLX	F	0.07%	0.13%	0.07%
EGBN	C	0.0%	0.08%	0.0%
EMBC	F	0.03%	0.14%	0.03%
ENR	B	0.01%	0.24%	0.01%
ENVA	B	0.01%	0.25%	0.01%
EPAC	A	0.06%	0.15%	0.06%
EPC	F	0.01%	0.22%	0.01%
EXPO	A	0.11%	0.85%	0.11%
EXTR	D	0.17%	0.26%	0.17%
FL	F	0.03%	0.28%	0.03%
FLWS	F	0.01%	0.03%	0.01%
FSS	D	0.02%	0.37%	0.02%
GCO	D	0.07%	0.04%	0.04%
GEF	B	0.01%	0.22%	0.01%
GEF	B	0.01%	0.05%	0.01%
GEO	D	0.06%	0.2%	0.06%
GFF	C	0.12%	0.18%	0.12%
GIII	C	0.03%	0.17%	0.03%
GMS	B	0.08%	0.56%	0.08%
GNW	A	0.0%	0.39%	0.0%
GOLF	F	0.13%	0.33%	0.13%
GPI	C	0.21%	0.71%	0.21%
GPMT	D	0.06%	0.01%	0.01%
HCC	C	0.06%	0.42%	0.06%
HEES	D	0.07%	0.19%	0.07%
HELE	D	0.04%	0.18%	0.04%
HI	F	0.08%	0.23%	0.08%
HIMS	C	0.09%	0.32%	0.09%
HNI	B	0.03%	0.38%	0.03%
HSII	D	0.26%	0.13%	0.13%
HURN	D	0.24%	0.18%	0.18%
HWKN	B	0.06%	0.24%	0.06%
IBP	C	0.05%	0.85%	0.05%
ICFI	C	0.11%	0.45%	0.11%
IDCC	A	0.07%	0.43%	0.07%
IDT	C	0.03%	0.08%	0.03%
IESC	A	0.02%	0.19%	0.02%
IMKTA	F	0.26%	0.16%	0.16%
INVA	B	0.1%	0.16%	0.1%
IOSP	F	0.04%	0.38%	0.04%
IPAR	D	0.13%	0.39%	0.13%
IRWD	F	0.02%	0.08%	0.02%
JACK	F	0.09%	0.1%	0.09%
JBSS	F	0.21%	0.12%	0.12%
JXN	A	0.0%	0.92%	0.0%
KAI	C	0.12%	0.54%	0.12%
KFRC	F	0.18%	0.2%	0.18%
KFY	C	0.02%	0.63%	0.02%
KREF	C	0.04%	0.09%	0.04%
KRNY	C	0.02%	0.02%	0.02%
LANC	F	0.02%	0.45%	0.02%
LILA	B	0.12%	0.05%	0.05%
LMAT	A	0.02%	0.24%	0.02%
LOVE	C	0.1%	0.05%	0.05%
LPG	F	0.05%	0.08%	0.05%
LRN	D	0.14%	0.54%	0.14%
MATX	C	0.19%	0.62%	0.19%
MCY	B	0.05%	0.22%	0.05%
MDXG	F	0.04%	0.09%	0.04%
MED	F	0.07%	0.03%	0.03%
MITK	F	0.01%	0.04%	0.01%
MLI	B	0.41%	1.07%	0.41%
MMSI	C	0.14%	0.68%	0.14%
MOG.A	C	0.03%	0.69%	0.03%
NARI	F	0.06%	0.3%	0.06%
NBTB	D	0.0%	0.27%	0.0%
NFBK	D	0.01%	0.06%	0.01%
NRC	F	0.04%	0.06%	0.04%
NSIT	B	0.09%	0.81%	0.09%
NSP	F	0.14%	0.42%	0.14%
NSSC	F	0.1%	0.21%	0.1%
NTCT	C	0.11%	0.17%	0.11%
NUS	F	0.02%	0.06%	0.02%
NWN	D	0.01%	0.19%	0.01%
ODP	F	0.14%	0.15%	0.14%
OPCH	F	0.11%	0.36%	0.11%
OSIS	C	0.02%	0.32%	0.02%
OTTR	F	0.07%	0.39%	0.07%
OXM	F	0.07%	0.21%	0.07%
PBF	F	0.02%	0.35%	0.02%
PBH	D	0.08%	0.51%	0.08%
PDCO	F	0.03%	0.29%	0.03%
PDM	C	0.18%	0.17%	0.17%
PFBC	D	0.0%	0.12%	0.0%
PGRE	D	0.17%	0.06%	0.06%
PLUS	B	0.09%	0.38%	0.09%
PNM	B	0.11%	0.53%	0.11%
PRDO	D	0.0%	0.26%	0.0%
PRGS	A	0.18%	0.39%	0.18%
PRO	F	0.02%	0.09%	0.02%
PZZA	D	0.05%	0.23%	0.05%
QLYS	F	0.12%	0.72%	0.12%
REVG	D	0.03%	0.1%	0.03%
RMBS	F	0.2%	0.63%	0.2%
RUSHA	D	0.05%	0.43%	0.05%
RYI	D	0.03%	0.07%	0.03%
SAH	D	0.04%	0.12%	0.04%
SCS	D	0.08%	0.17%	0.08%
SFL	D	0.07%	0.19%	0.07%
SFM	A	0.48%	1.32%	0.48%
SIG	C	0.28%	0.61%	0.28%
SKT	A	0.23%	0.51%	0.23%
SLVM	C	0.02%	0.35%	0.02%
SNBR	C	0.04%	0.02%	0.02%
SONO	F	0.04%	0.19%	0.04%
SPSC	D	0.13%	0.98%	0.13%
SQSP	A	0.16%	0.38%	0.16%
SR	D	0.12%	0.43%	0.12%
SRCE	D	0.14%	0.14%	0.14%
SSTK	F	0.13%	0.12%	0.12%
SWX	C	0.01%	0.67%	0.01%
TDS	C	0.04%	0.35%	0.04%
TGNA	B	0.08%	0.4%	0.08%
THR	F	0.05%	0.09%	0.05%
TILE	C	0.04%	0.07%	0.04%
TNC	F	0.07%	0.28%	0.07%
TNET	D	0.14%	0.37%	0.14%
TPB	C	0.03%	0.05%	0.03%
UFPI	C	0.24%	1.02%	0.24%
UNFI	C	0.01%	0.12%	0.01%
UPWK	D	0.01%	0.08%	0.01%
USNA	F	0.02%	0.06%	0.02%
UTL	D	0.01%	0.12%	0.01%
UVV	D	0.07%	0.18%	0.07%
VCEL	F	0.02%	0.16%	0.02%
VGR	B	0.33%	0.31%	0.31%
VITL	C	0.04%	0.08%	0.04%
VNDA	F	0.03%	0.04%	0.03%
VRNS	B	0.12%	0.43%	0.12%
VSH	F	0.11%	0.29%	0.11%
WK	D	0.31%	0.41%	0.31%
WNC	F	0.08%	0.1%	0.08%
WTS	C	0.13%	0.81%	0.13%
YELP	D	0.06%	0.35%	0.06%
YEXT	B	0.13%	0.08%	0.08%
YOU	C	0.29%	0.22%	0.22%
ZIP	D	0.05%	0.1%	0.05%

SMLF Overweight 627 Positions Relative to FLQS

Symbol	Grade	Weight
EME	B	0.84%
EVR	C	0.72%
APP	A	0.7%
DECK	B	0.68%
BPOP	D	0.57%
JBL	C	0.55%
MANH	A	0.53%
WSM	C	0.52%
NTNX	C	0.5%
NVT	C	0.5%
RS	D	0.48%
ALSN	A	0.48%
WING	C	0.47%
SLG	C	0.46%
HRB	C	0.45%
AXON	A	0.45%
IDA	D	0.43%
CSL	A	0.42%
DKS	D	0.42%
LPX	C	0.41%
FIX	A	0.41%
ORI	A	0.41%
CNM	F	0.41%
MSTR	B	0.41%
MEDP	F	0.4%
DUOL	B	0.4%
IOT	C	0.4%
VNO	B	0.4%
COOP	B	0.4%
AM	A	0.39%
COCO	C	0.39%
PCOR	D	0.38%
IBKR	A	0.37%
LBRDA	C	0.37%
BRX	C	0.37%
WFRD	F	0.37%
UTHR	C	0.37%
LAMR	C	0.36%
FR	D	0.35%
NTRA	A	0.35%
CR	A	0.34%
CHE	D	0.34%
CVNA	A	0.34%
GTLB	D	0.34%
TTEK	A	0.34%
JEF	A	0.34%
SOLV	C	0.33%
THC	D	0.33%
CAVA	B	0.32%
EWBC	B	0.32%
ITT	C	0.32%
AYI	A	0.31%
WSO	C	0.31%
MAC	B	0.31%
XRAY	D	0.31%
GGG	C	0.31%
SN	A	0.3%
PIPR	A	0.3%
DDS	D	0.3%
PSTG	F	0.3%
SPXC	A	0.3%
CROX	C	0.29%
POWL	B	0.29%
MOD	B	0.29%
OFG	D	0.29%
FLEX	B	0.29%
GPK	D	0.28%
SMAR	A	0.27%
HALO	D	0.27%
JHG	A	0.27%
ENTG	D	0.27%
AN	D	0.27%
TPR	B	0.26%
PRI	A	0.26%
CHK	C	0.26%
R	C	0.26%
AMH	D	0.26%
LBTYA	C	0.26%
FCNCA	D	0.25%
TPX	C	0.25%
APA	F	0.25%
COKE	C	0.25%
LSCC	D	0.25%
BLD	D	0.25%
LNTH	C	0.24%
TREX	D	0.24%
STRL	B	0.24%
AGO	B	0.24%
SMG	C	0.23%
XRX	D	0.23%
AMG	B	0.23%
ETSY	F	0.23%
RNR	A	0.23%
GAP	F	0.23%
HAS	A	0.23%
JOE	D	0.23%
W	C	0.23%
INTA	C	0.23%
SRPT	F	0.23%
ESTC	F	0.23%
ARW	C	0.22%
AXSM	D	0.22%
AZPN	A	0.22%
DNLI	C	0.22%
BBWI	F	0.22%
AGCO	D	0.22%
OVV	D	0.22%
LIVN	C	0.21%
ONTO	B	0.21%
CBSH	D	0.21%
RPM	A	0.21%
AR	C	0.21%
FBP	B	0.21%
CFR	B	0.21%
CW	A	0.21%
HIW	C	0.2%
GLPI	C	0.2%
TKR	B	0.2%
ZION	D	0.2%
SANM	D	0.2%
RRX	B	0.2%
MUR	F	0.2%
EXLS	B	0.2%
NAVI	D	0.2%
AGNC	B	0.19%
HAE	F	0.19%
GES	F	0.19%
RRC	D	0.19%
HOG	D	0.19%
TPG	A	0.19%
EXEL	B	0.19%
NDSN	C	0.19%
ELF	F	0.19%
BRKR	D	0.19%
AVNT	C	0.19%
M	D	0.19%
ACM	A	0.19%
TEX	F	0.19%
LNW	F	0.18%
TDOC	D	0.18%
CWEN	C	0.18%
FROG	F	0.18%
WS	D	0.18%
BRC	C	0.18%
KNSL	B	0.18%
PRG	C	0.18%
LUMN	C	0.18%
DCI	B	0.18%
ALLE	A	0.17%
AIZ	B	0.17%
VOYA	A	0.17%
ATI	C	0.17%
RNG	F	0.17%
OC	C	0.17%
PI	A	0.17%
VCYT	C	0.17%
PVH	D	0.17%
USFD	C	0.17%
TOL	C	0.17%
FAF	C	0.17%
WCC	D	0.17%
KRG	C	0.17%
TTC	F	0.16%
CVCO	C	0.16%
BJ	B	0.16%
SLM	B	0.16%
TOST	B	0.16%
SKY	C	0.16%
IGT	F	0.16%
ESAB	C	0.16%
HLI	A	0.16%
IONS	F	0.16%
PRKS	C	0.16%
SSD	B	0.16%
SPB	C	0.16%
MMYT	B	0.16%
SATS	C	0.16%
RHI	D	0.16%
TPH	C	0.16%
DTM	A	0.16%
WTM	C	0.15%
NJR	C	0.15%
OMF	D	0.15%
TNL	B	0.15%
RL	B	0.15%
SF	A	0.15%
ABG	D	0.15%
AY	C	0.15%
NOVT	C	0.15%
ONON	A	0.15%
KIM	C	0.15%
SPT	F	0.15%
IVT	B	0.15%
ACLX	C	0.15%
GH	F	0.15%
NUVL	B	0.15%
ESI	C	0.15%
OGS	C	0.14%
BSY	D	0.14%
SCI	D	0.14%
GME	D	0.14%
UA	B	0.14%
CRUS	D	0.14%
BL	D	0.14%
RGLD	C	0.14%
INSP	C	0.14%
FYBR	C	0.14%
SBGI	A	0.14%
ENSG	D	0.14%
OGE	C	0.13%
HOV	D	0.13%
BRZE	F	0.13%
KRC	C	0.13%
VECO	F	0.13%
VSTO	B	0.13%
NOV	F	0.13%
BPMC	F	0.13%
GNRC	B	0.13%
NYT	C	0.13%
CUBE	C	0.13%
RYAN	A	0.13%
FTAI	A	0.13%
DOCS	A	0.13%
HUN	B	0.13%
CBT	B	0.13%
MFA	C	0.13%
KBR	A	0.13%
THO	C	0.13%
NFG	A	0.13%
GATX	F	0.13%
XPO	F	0.13%
WMS	D	0.13%
VMI	B	0.13%
XNCR	D	0.13%
AA	B	0.13%
OLN	D	0.12%
CHX	C	0.12%
BWXT	A	0.12%
PCTY	C	0.12%
SFBS	B	0.12%
NNN	C	0.12%
UMBF	C	0.12%
BANF	D	0.12%
BCRX	D	0.12%
MAT	B	0.12%
WAFD	D	0.12%
WEN	B	0.12%
PTEN	F	0.11%
KLIC	D	0.11%
SON	D	0.11%
EXPI	C	0.11%
WH	C	0.11%
BAND	C	0.11%
SYNA	F	0.11%
PARA	F	0.11%
CYTK	D	0.11%
UGI	C	0.11%
INSM	D	0.11%
BERY	C	0.11%
PCVX	C	0.11%
COUR	F	0.11%
OSCR	C	0.11%
WEX	C	0.11%
HTH	F	0.11%
MTRN	F	0.1%
AAN	B	0.1%
UPBD	F	0.1%
TMHC	C	0.1%
KSS	D	0.1%
SAIA	D	0.1%
OHI	C	0.1%
FHI	A	0.1%
WSC	D	0.1%
BC	C	0.1%
MTG	A	0.1%
NYCB	D	0.1%
WAL	C	0.1%
KW	C	0.1%
MATV	F	0.1%
IVZ	A	0.1%
SWN	D	0.1%
X	F	0.1%
LSTR	F	0.1%
LAZ	C	0.1%
EGP	D	0.1%
OII	D	0.1%
VMEO	C	0.1%
RDDT	B	0.1%
APG	F	0.09%
MPW	C	0.09%
CACC	F	0.09%
LBTYK	C	0.09%
HASI	B	0.09%
EEFT	F	0.09%
YETI	C	0.09%
BECN	D	0.09%
ALIT	D	0.09%
DNOW	F	0.09%
HP	D	0.09%
CXT	F	0.09%
SITC	D	0.09%
MIDD	D	0.09%
ACA	C	0.09%
CRS	B	0.09%
MTN	D	0.09%
MCB	B	0.09%
CHDN	C	0.09%
IBOC	D	0.09%
AGM	D	0.09%
LYFT	D	0.08%
TENB	D	0.08%
AMPH	C	0.08%
LZ	D	0.08%
FLR	B	0.08%
CRDO	B	0.08%
LXP	D	0.08%
CARS	F	0.08%
CAR	D	0.08%
FLNC	C	0.08%
PD	F	0.08%
LGND	C	0.08%
NXST	D	0.08%
ILPT	D	0.08%
MTSI	B	0.08%
PNFP	B	0.08%
PLNT	B	0.08%
DVAX	F	0.08%
MKSI	F	0.08%
PHIN	D	0.08%
KN	B	0.08%
CUBI	F	0.08%
CUZ	C	0.08%
VFC	A	0.08%
VC	F	0.08%
VERA	C	0.08%
MDGL	F	0.08%
RGEN	F	0.08%
ELAN	D	0.08%
ASH	F	0.08%
WOR	F	0.08%
MRC	D	0.08%
ALV	F	0.08%
ADEA	B	0.07%
CLH	B	0.07%
SNEX	B	0.07%
TXRH	A	0.07%
APPF	C	0.07%
PEGA	B	0.07%
AZEK	D	0.07%
EIG	A	0.07%
ANAB	D	0.07%
WLY	A	0.07%
SANA	F	0.07%
SM	D	0.07%
FLO	D	0.07%
HWC	D	0.07%
ANGI	D	0.07%
HE	F	0.07%
EQC	D	0.07%
HOUS	D	0.07%
GKOS	B	0.07%
DH	F	0.07%
FHB	D	0.07%
RIG	F	0.07%
RYN	C	0.07%
MASI	B	0.07%
CXW	F	0.07%
AIV	D	0.07%
VIR	F	0.07%
KNF	B	0.07%
VKTX	C	0.07%
NTB	D	0.07%
OZK	D	0.07%
UNIT	B	0.07%
ACHC	F	0.07%
WYNN	B	0.07%
COTY	F	0.07%
POR	D	0.07%
PK	D	0.06%
TRN	C	0.06%
MERC	D	0.06%
FN	B	0.06%
WBA	F	0.06%
NVST	D	0.06%
APLS	F	0.06%
AGX	A	0.06%
PEN	D	0.06%
CASY	D	0.06%
VAC	D	0.06%
LFUS	C	0.06%
FIVN	F	0.06%
NXT	F	0.06%
OMI	F	0.06%
AMLX	D	0.06%
MDU	C	0.06%
NBR	D	0.06%
LADR	D	0.06%
DOMO	F	0.06%
AMRX	B	0.06%
ADMA	A	0.06%
CC	D	0.06%
AMPL	D	0.06%
STWD	C	0.06%
AVDX	F	0.05%
ITGR	B	0.05%
PFSI	C	0.05%
RCUS	D	0.05%
OLED	B	0.05%
ITRI	C	0.05%
MAN	D	0.05%
BKD	F	0.05%
ASAN	F	0.05%
BCPC	C	0.05%
VNT	F	0.05%
ACI	F	0.05%
AVAV	B	0.05%
EHC	C	0.05%
BEAM	F	0.05%
AMBC	F	0.05%
CTBI	B	0.05%
CERS	F	0.05%
NHI	C	0.05%
RKT	D	0.05%
CNX	A	0.05%
WTTR	B	0.05%
FOLD	F	0.05%
ITCI	D	0.05%
BRBR	A	0.05%
S	C	0.05%
LECO	D	0.05%
KOS	F	0.05%
SMTC	C	0.05%
MMS	C	0.05%
AFRM	C	0.05%
EYPT	F	0.05%
CELH	F	0.05%
PATH	D	0.05%
WGO	D	0.05%
FUN	F	0.05%
SITE	D	0.05%
KD	D	0.05%
IRTC	F	0.05%
CLVT	D	0.04%
OI	D	0.04%
SPRY	C	0.04%
FHN	D	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%
CGEM	F	0.04%
SOFI	C	0.04%
ARRY	F	0.04%
CFFN	D	0.04%
SNV	D	0.04%
DAWN	D	0.04%
PRGO	F	0.04%
OUT	C	0.04%
IVR	C	0.04%
RDFN	C	0.04%
AGS	A	0.04%
HSTM	B	0.04%
NATL	D	0.04%
EVH	D	0.04%
SVC	D	0.04%
WBS	D	0.04%
AVXL	D	0.04%
FFIN	D	0.04%
HLF	F	0.04%
STAG	D	0.04%
FCN	C	0.04%
KLG	F	0.04%
ENS	B	0.04%
ROKU	C	0.04%
WD	C	0.03%
QRTEA	D	0.03%
ARCB	F	0.03%
TSE	C	0.03%
ALRM	F	0.03%
DAN	D	0.03%
CIEN	A	0.03%
TCBI	B	0.03%
OFIX	D	0.03%
NX	F	0.03%
DNB	D	0.03%
VIRT	B	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%
CHRD	F	0.03%
LTH	B	0.03%
RGNX	F	0.03%
SGH	D	0.03%
TWO	D	0.03%
JELD	D	0.03%
SWIM	B	0.03%
BRSP	D	0.03%
UDMY	F	0.03%
CHWY	C	0.03%
TLRY	F	0.03%
XHR	A	0.03%
RLI	A	0.03%
FLYW	F	0.03%
BBIO	F	0.03%
QXO	F	0.03%
CORZ	C	0.03%
RPD	D	0.03%
RVMD	B	0.03%
CNS	C	0.03%
CDP	A	0.03%
UVE	C	0.03%
ARWR	F	0.03%
ERAS	D	0.02%
OSUR	F	0.02%
NTLA	F	0.02%
SHO	B	0.02%
MSM	D	0.02%
RAMP	F	0.02%
KVYO	B	0.02%
BMBL	F	0.02%
CACI	A	0.02%
WOOF	B	0.02%
HMST	B	0.02%
OLPX	C	0.02%
NWL	D	0.02%
WTFC	B	0.02%
HAIN	C	0.02%
PII	D	0.02%
VSTS	D	0.02%
BRY	F	0.02%
MTW	F	0.02%
EDR	A	0.02%
GPRO	F	0.02%
DYN	D	0.02%
MSA	F	0.02%
EVRI	A	0.02%
PR	D	0.02%
ARCT	D	0.02%
RLJ	D	0.02%
DOCN	B	0.02%
PTCT	C	0.02%
AKRO	D	0.02%
EPR	C	0.02%
CNDT	B	0.02%
TGTX	D	0.02%
DY	C	0.02%
JANX	C	0.02%
SUPN	D	0.02%
CRSP	F	0.02%
GMED	B	0.02%
ALHC	C	0.02%
VIAV	C	0.02%
AXTA	C	0.02%
SAFE	C	0.02%
CWK	D	0.01%
SFIX	F	0.01%
RBRK	D	0.01%
JOBY	C	0.01%
ZUO	F	0.01%
DINO	F	0.01%
VAL	F	0.01%
PGEN	F	0.01%
AIN	F	0.01%
TTGT	F	0.01%
SWI	B	0.01%
ARR	D	0.01%
OMER	F	0.01%
BIGC	F	0.01%
GO	F	0.01%
PCH	C	0.01%
PEB	D	0.01%
POWI	F	0.01%
OIS	D	0.01%
TDC	D	0.01%
ALGM	F	0.01%
JAMF	F	0.01%
HQY	B	0.01%
WTI	C	0.01%
BKH	C	0.01%
MBC	C	0.01%
VRE	C	0.01%
TR	D	0.01%
NGVT	D	0.01%
HTZ	F	0.01%
BSIG	D	0.01%
PYCR	D	0.01%
ROIV	D	0.01%
HCAT	C	0.01%
SWTX	F	0.01%
AXS	A	0.01%
STGW	B	0.01%
MLAB	B	0.01%
ALAB	C	0.01%
GWRE	A	0.01%
BYD	B	0.01%
XPRO	F	0.01%
KALU	D	0.01%
MBLY	F	0.01%
RHP	B	0.01%
NEXA	B	0.01%
ASGN	D	0.01%
AEIS	B	0.01%
RXT	C	0.01%
HXL	F	0.01%
SSB	C	0.01%
HYFM	D	0.0%
BFH	D	0.0%
MC	B	0.0%
SEE	C	0.0%
GDOT	C	0.0%
HPP	F	0.0%
RDN	D	0.0%
FULT	D	0.0%
BOH	D	0.0%
TRMK	D	0.0%
UNM	A	0.0%
DEI	A	0.0%
CASH	C	0.0%
TBBK	A	0.0%
CMA	C	0.0%
AX	D	0.0%
BKU	D	0.0%

SMLF Underweight 277 Positions Relative to FLQS

Symbol	Grade	Weight
ESNT	A	-0.93%
KTB	C	-0.77%
FELE	C	-0.7%
SIGI	D	-0.62%
HOMB	D	-0.58%
CTRE	C	-0.56%
SHOO	A	-0.55%
WDFC	B	-0.55%
MGY	B	-0.53%
FTDR	B	-0.52%
MHO	C	-0.49%
BXMT	C	-0.49%
IIPR	C	-0.48%
BNL	C	-0.46%
NWE	C	-0.46%
SXT	C	-0.45%
NMIH	B	-0.44%
ESE	C	-0.43%
CALM	A	-0.43%
MWA	A	-0.42%
CWT	D	-0.42%
MGEE	C	-0.42%
AVA	D	-0.39%
NOG	D	-0.39%
PATK	A	-0.39%
EPRT	C	-0.39%
STNG	B	-0.39%
WERN	D	-0.39%
CRVL	C	-0.38%
PLXS	A	-0.37%
FCPT	C	-0.37%
BTU	B	-0.37%
LCII	C	-0.37%
ACIW	A	-0.36%
ATGE	D	-0.36%
UNF	A	-0.35%
MGRC	D	-0.35%
PSMT	A	-0.32%
JJSF	C	-0.31%
STRA	F	-0.3%
SXI	B	-0.29%
LZB	D	-0.28%
UFPT	D	-0.28%
PRMW	B	-0.27%
INSW	B	-0.25%
SBH	B	-0.25%
MLKN	F	-0.25%
ALG	F	-0.24%
CSGS	B	-0.23%
NHC	D	-0.23%
SJW	D	-0.23%
VCTR	A	-0.23%
ROIC	C	-0.22%
PRIM	A	-0.21%
PJT	A	-0.21%
REZI	D	-0.21%
NWBI	D	-0.21%
LTC	D	-0.2%
DORM	C	-0.2%
GPOR	B	-0.2%
CBRL	D	-0.19%
APAM	B	-0.19%
HLIT	D	-0.19%
WWW	B	-0.18%
HOPE	B	-0.18%
INMD	F	-0.18%
NVEE	F	-0.18%
WMK	D	-0.18%
AAT	C	-0.17%
FIZZ	F	-0.17%
MCRI	B	-0.16%
PRK	D	-0.16%
ACT	B	-0.16%
MD	B	-0.15%
TNK	C	-0.15%
GABC	D	-0.15%
RVLV	C	-0.15%
CWH	C	-0.14%
HRMY	D	-0.14%
SPNS	B	-0.14%
FWRD	D	-0.13%
SPTN	C	-0.13%
XPEL	D	-0.13%
OCFC	C	-0.13%
BBSI	B	-0.13%
MRTN	F	-0.13%
PEBO	F	-0.13%
FIGS	C	-0.13%
MNRO	B	-0.12%
ETH	F	-0.12%
BLX	B	-0.12%
CNXN	C	-0.12%
BRKL	D	-0.12%
SCVL	D	-0.11%
DHT	B	-0.11%
IMXI	F	-0.11%
GOGL	C	-0.11%
BHE	C	-0.11%
SYBT	C	-0.11%
SMP	D	-0.11%
EBF	B	-0.1%
CYH	C	-0.1%
CMRE	C	-0.1%
RGR	F	-0.1%
CRGY	B	-0.1%
DXPE	C	-0.1%
AESI	B	-0.1%
HCKT	D	-0.1%
CHUY	B	-0.1%
TMP	C	-0.1%
GRC	B	-0.1%
SCHL	F	-0.1%
PTLO	C	-0.09%
UTI	F	-0.09%
HTLD	F	-0.09%
COLL	A	-0.09%
MLR	B	-0.09%
OSPN	D	-0.09%
KELYA	D	-0.09%
LILAK	D	-0.09%
SXC	F	-0.09%
ASC	D	-0.09%
UHT	D	-0.08%
TRTX	D	-0.08%
EGY	D	-0.08%
YORW	F	-0.08%
SWBI	F	-0.08%
TRST	D	-0.08%
GIC	D	-0.08%
MATW	F	-0.08%
HVT	F	-0.07%
PAHC	C	-0.07%
CASS	F	-0.07%
CCRN	F	-0.07%
FOR	D	-0.07%
AXGN	C	-0.07%
FC	C	-0.07%
HY	D	-0.07%
LQDT	C	-0.07%
MYE	F	-0.07%
RMR	B	-0.06%
RUSHB	D	-0.06%
IRMD	B	-0.06%
CCSI	C	-0.06%
FMNB	D	-0.06%
SMBC	B	-0.06%
CHCT	F	-0.06%
NRDS	D	-0.06%
BBW	A	-0.06%
WRLD	F	-0.06%
AMSWA	C	-0.05%
BV	A	-0.05%
MOV	F	-0.05%
DJCO	C	-0.05%
FBIZ	D	-0.05%
FFIC	C	-0.05%
TCMD	C	-0.05%
FCBC	D	-0.05%
SIGA	F	-0.05%
NAT	B	-0.05%
NPK	F	-0.05%
CENT	F	-0.05%
VLGEA	D	-0.05%
RGP	F	-0.05%
LYTS	B	-0.05%
CPF	C	-0.05%
CFB	D	-0.05%
NVEC	D	-0.05%
ENFN	C	-0.05%
SRDX	D	-0.05%
METC	D	-0.04%
EVER	D	-0.04%
SPOK	D	-0.04%
VPG	F	-0.04%
PFMT	D	-0.04%
RMAX	C	-0.04%
PKST	D	-0.04%
GNTY	C	-0.04%
SEMR	C	-0.04%
FLIC	B	-0.04%
NGVC	D	-0.04%
NECB	C	-0.04%
RM	D	-0.04%
LINC	D	-0.04%
TITN	F	-0.04%
OOMA	C	-0.04%
MCFT	F	-0.04%
PFIS	D	-0.04%
ULH	B	-0.04%
ODC	D	-0.04%
LXFR	C	-0.04%
CMTG	F	-0.04%
SB	C	-0.04%
PLPC	D	-0.04%
HTBK	D	-0.04%
MCW	F	-0.04%
ORGO	C	-0.03%
PBPB	D	-0.03%
TH	F	-0.03%
OLP	C	-0.03%
CIO	D	-0.03%
CMPO	B	-0.03%
OFLX	D	-0.03%
TTSH	D	-0.03%
RCKY	C	-0.03%
AVNW	F	-0.03%
RLGT	D	-0.03%
PKBK	C	-0.03%
MG	B	-0.03%
BWMN	F	-0.03%
NATH	B	-0.03%
GCMG	A	-0.03%
WEYS	C	-0.03%
YMAB	C	-0.03%
GRNT	D	-0.03%
IMMR	D	-0.03%
IBTA	C	-0.03%
REPX	C	-0.03%
TMCI	F	-0.03%
BMRC	D	-0.03%
HBCP	D	-0.03%
INFU	D	-0.02%
VRA	F	-0.02%
SGC	D	-0.02%
JILL	F	-0.02%
APEI	F	-0.02%
SMLR	F	-0.02%
III	F	-0.02%
PTSI	F	-0.02%
MYPS	F	-0.02%
ESCA	D	-0.02%
REFI	B	-0.02%
RMNI	F	-0.02%
RELL	B	-0.02%
HBB	B	-0.02%
GWRS	D	-0.02%
REAL	C	-0.02%
CHMG	C	-0.02%
EPM	B	-0.02%
CZNC	D	-0.02%
NATR	F	-0.02%
ESSA	C	-0.02%
HOFT	D	-0.02%
DXLG	F	-0.02%
JYNT	F	-0.02%
IBEX	C	-0.02%
KRT	F	-0.02%
JAKK	C	-0.02%
JOUT	F	-0.02%
ZYXI	F	-0.02%
MAPS	F	-0.01%
CURV	F	-0.01%
LCUT	F	-0.01%
CIX	C	-0.01%
NTIC	F	-0.01%
PBYI	F	-0.01%
METCB	F	-0.01%
FENC	F	-0.01%
LWAY	B	-0.01%
NL	B	-0.01%
BSVN	D	-0.01%
VIRC	D	-0.01%
CPSS	C	-0.01%
FSTR	D	-0.01%
STKS	F	-0.01%
HBIO	F	-0.01%
SEVN	B	-0.01%
MPX	D	-0.01%
EGAN	F	-0.01%
QIPT	F	-0.01%
GAMB	C	-0.01%
CDXC	C	-0.01%
CMT	F	-0.01%
FORR	F	-0.01%
BTMD	F	-0.01%
FLXS	B	-0.01%
NREF	B	-0.01%