SMLF vs. FSMD ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Fidelity Small-Mid Factor ETF (FSMD)

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

FSMD

Fidelity Small-Mid Factor ETF

FSMD Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Small-Mid Factor Index℠. The fund normally invests at least 80% of its assets in securities included in the Fidelity Small-Mid Factor Index℠, which is designed to reflect the performance of stocks of small- and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market, as represented by the Fidelity U.S. Extended Investable Market Index℠.

Grade (RS Rating)

Last Trade

$42.93

Average Daily Volume

84,920

Number of Holdings ^*

578

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FSMD
30 Days	3.58%	1.75%
60 Days	6.73%	4.55%
90 Days	9.95%	7.47%
12 Months	35.13%	31.39%

324 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FSMD	Overlap
ABG	B	0.15%	0.16%	0.15%
ACA	A	0.1%	0.15%	0.1%
ACI	C	0.05%	0.19%	0.05%
ACLX	C	0.17%	0.19%	0.17%
ACM	B	0.19%	0.31%	0.19%
ADMA	C	0.06%	0.22%	0.06%
AEO	F	0.05%	0.12%	0.05%
AGCO	F	0.2%	0.15%	0.15%
AGX	B	0.08%	0.16%	0.08%
AIT	B	0.12%	0.25%	0.12%
AIZ	A	0.17%	0.26%	0.17%
ALKS	C	0.3%	0.16%	0.16%
ALLE	D	0.16%	0.26%	0.16%
ALRM	C	0.03%	0.11%	0.03%
ALSN	B	0.56%	0.25%	0.25%
ALV	C	0.08%	0.19%	0.08%
ALX	D	0.1%	0.08%	0.08%
AMCX	C	0.06%	0.08%	0.06%
AMG	C	0.23%	0.17%	0.17%
AMH	C	0.25%	0.26%	0.25%
AMN	F	0.03%	0.05%	0.03%
AMPH	F	0.07%	0.12%	0.07%
AMR	C	0.14%	0.1%	0.1%
AMRX	C	0.07%	0.12%	0.07%
AN	D	0.24%	0.13%	0.13%
ANF	C	0.3%	0.19%	0.19%
APOG	B	0.11%	0.11%	0.11%
APPF	C	0.06%	0.16%	0.06%
ARCH	B	0.03%	0.13%	0.03%
AROC	A	0.12%	0.17%	0.12%
ARW	F	0.18%	0.16%	0.16%
ASB	B	0.1%	0.16%	0.1%
ASGN	F	0.01%	0.15%	0.01%
ASH	F	0.07%	0.12%	0.07%
ASO	F	0.06%	0.13%	0.06%
ATEN	A	0.09%	0.11%	0.09%
AX	B	0.0%	0.16%	0.0%
AXS	A	0.01%	0.19%	0.01%
AXTA	B	0.03%	0.21%	0.03%
AYI	B	0.35%	0.24%	0.24%
BCC	C	0.22%	0.15%	0.15%
BCO	F	0.06%	0.12%	0.06%
BCPC	B	0.04%	0.16%	0.04%
BERY	D	0.1%	0.19%	0.1%
BFH	B	0.0%	0.13%	0.0%
BJ	B	0.16%	0.25%	0.16%
BKE	B	0.12%	0.11%	0.11%
BKH	A	0.01%	0.16%	0.01%
BLD	F	0.21%	0.24%	0.21%
BMI	C	0.16%	0.19%	0.16%
BPMC	C	0.13%	0.17%	0.13%
BPOP	C	0.53%	0.18%	0.18%
BRBR	A	0.06%	0.24%	0.06%
BRC	C	0.17%	0.12%	0.12%
BRKR	F	0.14%	0.15%	0.14%
BRX	A	0.37%	0.22%	0.22%
BRY	F	0.02%	0.07%	0.02%
BSY	D	0.12%	0.26%	0.12%
BWXT	A	0.13%	0.26%	0.13%
BYD	B	0.01%	0.17%	0.01%
CACI	C	0.02%	0.27%	0.02%
CASH	B	0.0%	0.13%	0.0%
CASY	A	0.06%	0.32%	0.06%
CBSH	A	0.24%	0.22%	0.22%
CBT	C	0.12%	0.18%	0.12%
CEIX	A	0.07%	0.17%	0.07%
CHCO	B	0.0%	0.12%	0.0%
CHDN	C	0.1%	0.22%	0.1%
CHE	F	0.3%	0.21%	0.21%
CHRD	F	0.03%	0.2%	0.03%
CIEN	B	0.03%	0.26%	0.03%
CLH	C	0.07%	0.27%	0.07%
CMA	B	0.0%	0.24%	0.0%
CMC	B	0.14%	0.19%	0.14%
CNM	C	0.36%	0.16%	0.16%
CNO	B	0.16%	0.16%	0.16%
CNX	A	0.06%	0.23%	0.06%
COKE	C	0.22%	0.16%	0.16%
COOP	B	0.41%	0.19%	0.19%
CORT	C	0.3%	0.21%	0.21%
CPRX	C	0.24%	0.15%	0.15%
CR	A	0.35%	0.21%	0.21%
CRAI	B	0.01%	0.1%	0.01%
CROX	F	0.19%	0.16%	0.16%
CRUS	F	0.11%	0.15%	0.11%
CSWI	A	0.08%	0.18%	0.08%
CTBI	B	0.06%	0.11%	0.06%
CUBE	C	0.11%	0.24%	0.11%
CUBI	C	0.09%	0.1%	0.09%
CUZ	B	0.08%	0.16%	0.08%
CVCO	A	0.16%	0.15%	0.15%
CVLT	B	0.08%	0.2%	0.08%
CW	B	0.23%	0.31%	0.23%
CXT	C	0.09%	0.11%	0.09%
CXW	B	0.11%	0.14%	0.11%
DCI	B	0.18%	0.21%	0.18%
DDS	B	0.31%	0.1%	0.1%
DEI	B	0.0%	0.13%	0.0%
DINO	D	0.01%	0.18%	0.01%
DKS	D	0.38%	0.25%	0.25%
DOCS	C	0.15%	0.28%	0.15%
DTM	A	0.2%	0.28%	0.2%
DUOL	A	0.44%	0.33%	0.33%
DY	C	0.02%	0.15%	0.02%
EEFT	C	0.09%	0.15%	0.09%
EHC	B	0.05%	0.25%	0.05%
EIG	B	0.0%	0.11%	0.0%
ELAN	D	0.08%	0.2%	0.08%
EME	A	0.94%	0.46%	0.46%
ENS	D	0.04%	0.12%	0.04%
ENSG	D	0.14%	0.22%	0.14%
ENVA	B	0.01%	0.14%	0.01%
EPAC	B	0.07%	0.12%	0.07%
EQC	A	0.07%	0.11%	0.07%
ESAB	C	0.18%	0.2%	0.18%
ESI	B	0.15%	0.17%	0.15%
ESTC	C	0.26%	0.18%	0.18%
EVR	B	0.81%	0.27%	0.27%
EWBC	A	0.39%	0.33%	0.33%
EXEL	B	0.24%	0.28%	0.24%
EXLS	B	0.23%	0.21%	0.21%
EXPO	D	0.09%	0.14%	0.09%
FBP	B	0.0%	0.14%	0.0%
FCN	F	0.04%	0.17%	0.04%
FHI	B	0.11%	0.15%	0.11%
FHN	A	0.04%	0.26%	0.04%
FIX	A	0.44%	0.34%	0.34%
FLO	D	0.06%	0.13%	0.06%
FN	B	0.06%	0.23%	0.06%
FR	C	0.31%	0.18%	0.18%
FSS	B	0.02%	0.14%	0.02%
FULT	B	0.0%	0.15%	0.0%
GEO	A	0.12%	0.16%	0.12%
GGG	B	0.3%	0.3%	0.3%
GIII	D	0.02%	0.11%	0.02%
GKOS	A	0.07%	0.21%	0.07%
GMED	A	0.03%	0.24%	0.03%
GNW	A	0.0%	0.13%	0.0%
GOLF	B	0.13%	0.11%	0.11%
GPI	B	0.22%	0.17%	0.17%
GPK	D	0.26%	0.21%	0.21%
GWRE	A	0.01%	0.35%	0.01%
HAE	C	0.2%	0.16%	0.16%
HALO	F	0.24%	0.21%	0.21%
HCC	B	0.06%	0.13%	0.06%
HE	C	0.06%	0.07%	0.06%
HIMS	C	0.1%	0.18%	0.1%
HIW	D	0.18%	0.13%	0.13%
HLI	B	0.18%	0.25%	0.18%
HNI	B	0.03%	0.11%	0.03%
HOG	F	0.15%	0.13%	0.13%
HRB	D	0.4%	0.21%	0.21%
HSII	B	0.31%	0.09%	0.09%
HSTM	A	0.04%	0.1%	0.04%
HWKN	B	0.06%	0.11%	0.06%
IBKR	A	0.45%	0.42%	0.42%
IBOC	B	0.11%	0.15%	0.11%
IBP	F	0.04%	0.14%	0.04%
ICFI	F	0.1%	0.12%	0.1%
IDCC	B	0.09%	0.18%	0.09%
IDT	B	0.04%	0.14%	0.04%
IESC	A	0.03%	0.16%	0.03%
IMKTA	C	0.24%	0.08%	0.08%
INVA	C	0.09%	0.1%	0.09%
IOSP	C	0.04%	0.12%	0.04%
ITGR	B	0.05%	0.17%	0.05%
ITT	A	0.31%	0.26%	0.26%
JBSS	F	0.17%	0.07%	0.07%
JXN	C	0.0%	0.22%	0.0%
KAI	B	0.13%	0.15%	0.13%
KD	A	0.06%	0.19%	0.06%
KFRC	D	0.16%	0.07%	0.07%
KFY	B	0.02%	0.13%	0.02%
KLG	D	0.04%	0.09%	0.04%
KNF	B	0.07%	0.17%	0.07%
KNSL	B	0.18%	0.24%	0.18%
KRC	C	0.12%	0.15%	0.12%
LAMR	D	0.33%	0.26%	0.26%
LANC	D	0.02%	0.13%	0.02%
LECO	C	0.05%	0.26%	0.05%
LGND	C	0.09%	0.13%	0.09%
LMAT	A	0.02%	0.13%	0.02%
LNTH	F	0.17%	0.16%	0.16%
LPG	F	0.04%	0.08%	0.04%
LRN	A	0.16%	0.17%	0.16%
LSTR	D	0.1%	0.17%	0.1%
MANH	D	0.5%	0.36%	0.36%
MASI	B	0.08%	0.23%	0.08%
MATX	B	0.21%	0.17%	0.17%
MCB	B	0.11%	0.11%	0.11%
MCY	B	0.06%	0.12%	0.06%
MDU	D	0.04%	0.1%	0.04%
MEDP	D	0.38%	0.21%	0.21%
MLI	B	0.49%	0.25%	0.25%
MMS	D	0.04%	0.15%	0.04%
MMSI	A	0.14%	0.2%	0.14%
MOG.A	B	0.03%	0.17%	0.03%
MSA	D	0.02%	0.16%	0.02%
MSM	D	0.02%	0.13%	0.02%
MTG	D	0.09%	0.18%	0.09%
MTN	C	0.09%	0.18%	0.09%
MTSI	B	0.09%	0.21%	0.09%
NDSN	D	0.18%	0.28%	0.18%
NFG	A	0.13%	0.18%	0.13%
NHI	D	0.04%	0.14%	0.04%
NNN	C	0.1%	0.19%	0.1%
NOVT	D	0.14%	0.17%	0.14%
NSIT	F	0.06%	0.13%	0.06%
NSSC	F	0.08%	0.07%	0.07%
NTNX	B	0.56%	0.38%	0.38%
NTRA	A	0.4%	0.35%	0.35%
NVT	C	0.49%	0.26%	0.26%
NXST	C	0.07%	0.17%	0.07%
NYT	D	0.12%	0.24%	0.12%
OC	A	0.18%	0.32%	0.18%
OFG	B	0.0%	0.11%	0.0%
OGE	A	0.12%	0.24%	0.12%
OHI	B	0.09%	0.24%	0.09%
OLED	F	0.03%	0.18%	0.03%
OMF	A	0.16%	0.18%	0.16%
ONTO	F	0.15%	0.21%	0.15%
ORI	A	0.41%	0.23%	0.23%
OSIS	A	0.02%	0.12%	0.02%
OSUR	F	0.01%	0.08%	0.01%
OTTR	C	0.06%	0.13%	0.06%
OZK	B	0.08%	0.16%	0.08%
PBF	D	0.02%	0.12%	0.02%
PBH	A	0.09%	0.16%	0.09%
PCVX	D	0.09%	0.26%	0.09%
PDM	D	0.17%	0.1%	0.1%
PEGA	B	0.08%	0.16%	0.08%
PFBC	B	0.0%	0.11%	0.0%
PGRE	D	0.16%	0.09%	0.09%
PHIN	B	0.09%	0.13%	0.09%
PI	D	0.14%	0.17%	0.14%
PIPR	B	0.34%	0.18%	0.18%
PLNT	A	0.09%	0.23%	0.09%
PLUS	F	0.07%	0.12%	0.07%
POWL	C	0.38%	0.18%	0.18%
PRDO	B	0.0%	0.1%	0.0%
PRGS	B	0.18%	0.14%	0.14%
PRI	A	0.28%	0.26%	0.26%
PSTG	F	0.29%	0.3%	0.29%
QLYS	C	0.13%	0.17%	0.13%
R	B	0.28%	0.19%	0.19%
RDN	D	0.06%	0.15%	0.06%
RGEN	F	0.08%	0.19%	0.08%
RGLD	C	0.14%	0.22%	0.14%
RHI	C	0.17%	0.2%	0.17%
RL	C	0.15%	0.22%	0.15%
RLI	A	0.03%	0.2%	0.03%
RNR	C	0.21%	0.3%	0.21%
RPM	B	0.22%	0.35%	0.22%
RUSHA	B	0.06%	0.13%	0.06%
SANM	B	0.22%	0.15%	0.15%
SCI	A	0.14%	0.28%	0.14%
SCS	B	0.08%	0.08%	0.08%
SF	B	0.17%	0.29%	0.17%
SFM	A	0.6%	0.33%	0.33%
SHO	D	0.01%	0.11%	0.01%
SLM	B	0.16%	0.17%	0.16%
SLVM	C	0.02%	0.14%	0.02%
SN	D	0.27%	0.18%	0.18%
SNEX	B	0.07%	0.13%	0.07%
SNV	B	0.05%	0.23%	0.05%
SOLV	F	0.31%	0.25%	0.25%
SON	F	0.09%	0.14%	0.09%
SPSC	F	0.11%	0.17%	0.11%
SR	A	0.12%	0.15%	0.12%
SRCE	B	0.16%	0.1%	0.1%
SRPT	F	0.2%	0.23%	0.2%
SSD	D	0.14%	0.18%	0.14%
SSTK	F	0.11%	0.08%	0.08%
STAG	D	0.04%	0.17%	0.04%
STRL	A	0.29%	0.2%	0.2%
SUPN	B	0.03%	0.14%	0.03%
TDS	B	0.04%	0.18%	0.04%
TENB	D	0.08%	0.15%	0.08%
TGNA	B	0.09%	0.16%	0.09%
THC	C	0.31%	0.34%	0.31%
TKR	F	0.17%	0.13%	0.13%
TMHC	B	0.09%	0.2%	0.09%
TNC	F	0.06%	0.08%	0.06%
TNL	B	0.16%	0.15%	0.15%
TOL	B	0.16%	0.33%	0.16%
TPB	A	0.04%	0.12%	0.04%
TPH	D	0.14%	0.13%	0.13%
TPR	B	0.3%	0.28%	0.28%
TPX	B	0.24%	0.23%	0.23%
TREX	D	0.24%	0.18%	0.18%
TTC	F	0.14%	0.19%	0.14%
TTEK	F	0.29%	0.27%	0.27%
TXRH	B	0.07%	0.29%	0.07%
UFPI	C	0.23%	0.19%	0.19%
UGI	C	0.1%	0.16%	0.1%
UMBF	B	0.14%	0.18%	0.14%
UNM	A	0.0%	0.29%	0.0%
UPBD	C	0.09%	0.09%	0.09%
UTHR	C	0.38%	0.38%	0.38%
UTL	C	0.01%	0.1%	0.01%
UVE	A	0.03%	0.1%	0.03%
VCEL	A	0.03%	0.14%	0.03%
VECO	F	0.1%	0.08%	0.08%
VIRT	A	0.03%	0.15%	0.03%
VMI	B	0.15%	0.18%	0.15%
VNDA	C	0.03%	0.08%	0.03%
VNT	C	0.05%	0.18%	0.05%
VOYA	B	0.17%	0.22%	0.17%
VRNS	D	0.1%	0.16%	0.1%
VSH	F	0.09%	0.08%	0.08%
VSTO	A	0.14%	0.12%	0.12%
WAL	B	0.1%	0.25%	0.1%
WBS	A	0.05%	0.26%	0.05%
WEN	C	0.12%	0.13%	0.12%
WFRD	F	0.35%	0.18%	0.18%
WH	B	0.12%	0.22%	0.12%
WING	D	0.36%	0.22%	0.22%
WMS	F	0.1%	0.19%	0.1%
WSO	A	0.31%	0.33%	0.31%
WTFC	B	0.02%	0.22%	0.02%
WTS	B	0.12%	0.15%	0.12%
XHR	B	0.03%	0.1%	0.03%
YELP	C	0.06%	0.14%	0.06%
ZION	B	0.24%	0.23%	0.23%

SMLF Overweight 486 Positions Relative to FSMD

Symbol	Grade	Weight
APP	A	1.49%
MSTR	A	0.73%
DECK	A	0.72%
AXON	A	0.66%
JBL	C	0.55%
SLG	B	0.49%
RS	B	0.49%
CVNA	A	0.46%
IDA	A	0.46%
COCO	A	0.43%
WSM	D	0.42%
PCOR	C	0.42%
CSL	C	0.41%
LPX	B	0.41%
IOT	A	0.41%
VNO	C	0.41%
JEF	A	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
AM	A	0.37%
CAVA	C	0.34%
WK	C	0.34%
JHG	B	0.31%
FLEX	B	0.31%
MAC	A	0.31%
SPXC	A	0.3%
EXE	A	0.29%
AGO	A	0.27%
INTA	B	0.27%
FCNCA	A	0.27%
SMAR	A	0.26%
SIG	C	0.26%
OVV	C	0.25%
MOD	A	0.25%
HURN	B	0.25%
CFR	B	0.25%
RMBS	C	0.24%
SKT	A	0.24%
ENTG	F	0.23%
GAP	D	0.23%
LSCC	D	0.23%
YOU	D	0.23%
APA	F	0.22%
WS	B	0.22%
AXSM	B	0.22%
AR	B	0.21%
TOST	A	0.21%
AZPN	A	0.21%
ETSY	D	0.2%
LIVN	D	0.2%
RDDT	A	0.2%
XRAY	D	0.2%
ELF	C	0.2%
ATKR	D	0.2%
RRX	B	0.2%
DNLI	C	0.2%
BBWI	C	0.2%
WCC	B	0.2%
TPG	A	0.2%
LUMN	C	0.2%
TEX	D	0.19%
M	D	0.19%
RNG	C	0.19%
SMG	C	0.19%
JOE	F	0.19%
NAVI	F	0.19%
GH	B	0.19%
MUR	F	0.19%
HAS	D	0.19%
RRC	B	0.19%
XRX	F	0.18%
TDOC	D	0.18%
VCYT	B	0.18%
USFD	A	0.18%
GLPI	C	0.18%
FROG	C	0.18%
AVNT	B	0.18%
MMYT	B	0.17%
PVH	C	0.17%
LNW	F	0.17%
PRG	C	0.17%
KRG	A	0.17%
XPO	B	0.17%
EXTR	C	0.17%
PRKS	B	0.17%
KIM	A	0.16%
IVT	A	0.16%
BL	C	0.16%
WTM	A	0.16%
GME	C	0.16%
AGNC	C	0.16%
FAF	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%
GES	F	0.15%
W	D	0.15%
FTAI	A	0.15%
SPB	C	0.15%
CWEN	C	0.15%
SKY	A	0.15%
ATI	C	0.14%
IGT	F	0.14%
BANF	B	0.14%
IONS	F	0.14%
NJR	A	0.14%
UA	C	0.14%
YEXT	B	0.14%
PCTY	B	0.14%
AY	A	0.14%
SPT	C	0.14%
BLKB	B	0.13%
VMEO	C	0.13%
THO	C	0.13%
IPAR	C	0.13%
TNET	F	0.13%
ACCO	B	0.13%
OGS	A	0.13%
BRZE	C	0.13%
RYAN	B	0.13%
BDN	C	0.13%
SFBS	B	0.13%
FYBR	C	0.13%
NUVL	D	0.13%
AA	A	0.13%
MAT	D	0.12%
INSP	F	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%
GFF	B	0.12%
NOV	D	0.12%
WAFD	B	0.12%
NTCT	C	0.11%
CYTK	D	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
PARA	D	0.11%
PTEN	C	0.11%
OII	B	0.11%
DFIN	D	0.11%
LOVE	A	0.11%
MFA	D	0.11%
ACAD	C	0.11%
HTH	B	0.11%
CARG	B	0.11%
BAND	D	0.11%
ODP	F	0.11%
CHX	C	0.11%
MDGL	C	0.11%
NSP	F	0.11%
BCRX	D	0.11%
KW	B	0.1%
MTRN	C	0.1%
HP	C	0.1%
DNOW	B	0.1%
BECN	B	0.1%
EXPI	C	0.1%
PNFP	B	0.1%
IVZ	C	0.1%
CRDO	B	0.1%
CRC	A	0.1%
HUN	F	0.1%
HOV	D	0.1%
SYNA	D	0.1%
X	C	0.1%
LYFT	C	0.1%
CMPR	F	0.1%
AGM	B	0.1%
KLIC	C	0.1%
INSM	C	0.1%
WSC	F	0.09%
JACK	D	0.09%
MRC	B	0.09%
HEES	C	0.09%
APG	C	0.09%
HI	C	0.09%
CAR	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
EGP	D	0.09%
BC	D	0.09%
ALIT	C	0.09%
COUR	F	0.09%
DVAX	C	0.09%
AMLX	C	0.09%
OLN	F	0.09%
WEX	F	0.09%
CRS	A	0.09%
VC	F	0.08%
FIVN	C	0.08%
LILA	F	0.08%
OPCH	F	0.08%
HWC	B	0.08%
VIR	F	0.08%
FLR	B	0.08%
CAL	F	0.08%
MKSI	C	0.08%
OSCR	C	0.08%
FHB	B	0.08%
PD	C	0.08%
YETI	D	0.08%
KN	B	0.08%
GMS	B	0.08%
WOR	F	0.08%
CACC	F	0.08%
DLX	B	0.08%
VFC	C	0.08%
BOX	B	0.08%
KSS	F	0.08%
CARS	C	0.08%
MIDD	D	0.08%
BDC	B	0.08%
CNMD	C	0.07%
AFRM	A	0.07%
UNIT	B	0.07%
DH	F	0.07%
HASI	F	0.07%
PEN	B	0.07%
EYPT	D	0.07%
WYNN	D	0.07%
MATV	F	0.07%
VAC	C	0.07%
RIG	D	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	B	0.07%
FLNC	C	0.07%
WLY	B	0.07%
NBR	D	0.07%
NTB	B	0.07%
DOMO	C	0.07%
GCO	C	0.07%
SM	C	0.07%
NARI	C	0.07%
WNC	D	0.07%
NVST	C	0.06%
CC	D	0.06%
AVXL	C	0.06%
OXM	F	0.06%
AVDX	B	0.06%
GPMT	B	0.06%
COTY	F	0.06%
S	B	0.06%
NXT	D	0.06%
ILPT	D	0.06%
TRN	A	0.06%
STWD	C	0.06%
MPW	F	0.06%
ITCI	B	0.06%
VKTX	F	0.06%
FUN	C	0.06%
LADR	B	0.06%
SOFI	A	0.06%
WTTR	A	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
SFL	D	0.06%
AIV	C	0.06%
AZEK	B	0.06%
UVV	B	0.06%
MED	F	0.06%
FOLD	F	0.05%
AVAV	C	0.05%
FFIN	B	0.05%
CVBF	B	0.05%
SONO	C	0.05%
PZZA	F	0.05%
ITRI	B	0.05%
LBTYK	A	0.05%
TILE	B	0.05%
BEAM	C	0.05%
SITE	D	0.05%
CERS	D	0.05%
BLMN	F	0.05%
AMBC	C	0.05%
PATH	C	0.05%
HOUS	D	0.05%
MERC	F	0.05%
KOS	D	0.05%
TARS	C	0.05%
SMTC	C	0.05%
ZIP	D	0.05%
THR	B	0.05%
APLS	F	0.05%
LFUS	D	0.05%
ASAN	C	0.05%
WBA	F	0.05%
PK	D	0.05%
MDXG	A	0.05%
WGO	D	0.05%
CENTA	C	0.05%
ARWR	D	0.04%
MAN	F	0.04%
HPP	F	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%
PRGO	C	0.04%
FLYW	B	0.04%
AGS	A	0.04%
SANA	F	0.04%
SAH	B	0.04%
ANAB	F	0.04%
NATL	B	0.04%
HELE	C	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%
OMI	F	0.04%
HLF	C	0.04%
ANGI	F	0.04%
ACHC	F	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	D	0.03%
ALHC	C	0.03%
VIAV	C	0.03%
RDFN	D	0.03%
ADT	B	0.03%
LTH	C	0.03%
FL	F	0.03%
RGNX	D	0.03%
EVTC	B	0.03%
NX	C	0.03%
EMBC	D	0.03%
DNB	B	0.03%
TGTX	B	0.03%
BBIO	F	0.03%
QXO	C	0.03%
OFIX	B	0.03%
QDEL	F	0.03%
REVG	B	0.03%
SNBR	F	0.03%
RYI	C	0.03%
CHWY	B	0.03%
UDMY	D	0.03%
SLAB	F	0.03%
BRSP	C	0.03%
CDP	C	0.03%
MGNI	A	0.03%
ACCD	F	0.03%
VITL	D	0.03%
CGEM	F	0.03%
IVR	D	0.03%
TCBI	B	0.03%
RPD	C	0.03%
SPRY	C	0.03%
ATRC	C	0.03%
CNS	B	0.03%
RKT	F	0.03%
NRC	F	0.03%
OI	D	0.03%
BKD	F	0.03%
CVI	D	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SSB	B	0.02%
TSE	F	0.02%
KVYO	D	0.02%
UNFI	B	0.02%
ARCT	F	0.02%
OMER	B	0.02%
VSTS	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%
JELD	F	0.02%
EDR	A	0.02%
KRNY	B	0.02%
DAN	F	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%
BMBL	C	0.02%
OPI	F	0.02%
IRWD	F	0.02%
MTW	C	0.02%
DBI	F	0.02%
CLVT	D	0.02%
PR	B	0.02%
RLJ	C	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%
WD	D	0.02%
AKRO	C	0.02%
PTCT	C	0.02%
USNA	C	0.02%
ARCB	C	0.02%
PDCO	F	0.02%
CALX	D	0.02%
CWK	C	0.01%
ALGM	F	0.01%
VAL	F	0.01%
PGEN	F	0.01%
AIN	C	0.01%
ARR	D	0.01%
PEB	F	0.01%
JAMF	F	0.01%
PCH	D	0.01%
EPC	F	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%
GO	C	0.01%
JOBY	B	0.01%
WTI	F	0.01%
ZUO	B	0.01%
NWN	A	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%
SWX	A	0.01%
HCAT	C	0.01%
OIS	C	0.01%
RBRK	A	0.01%
NGVT	C	0.01%
HQY	A	0.01%
HMST	D	0.01%
CAKE	B	0.01%
STGW	B	0.01%
OLPX	D	0.01%
ENR	B	0.01%
BSIG	A	0.01%
GEF	B	0.01%
RHP	B	0.01%
PYCR	C	0.01%
HTZ	C	0.01%
MBLY	C	0.01%
HAIN	D	0.01%
SWTX	C	0.01%
KALU	C	0.01%
PII	F	0.01%
NEXA	B	0.01%
UPWK	C	0.01%
HXL	F	0.01%
NFBK	B	0.01%
AEIS	B	0.01%
MAGN	F	0.0%
MC	B	0.0%
SEE	D	0.0%
GDOT	D	0.0%
NBTB	B	0.0%
EGBN	B	0.0%
BOH	B	0.0%
TRMK	B	0.0%
TBBK	B	0.0%
BKU	A	0.0%

SMLF Underweight 254 Positions Relative to FSMD

Symbol	Grade	Weight
TPL	A	-0.57%
LYV	A	-0.42%
NRG	B	-0.41%
LII	A	-0.37%
SNA	B	-0.37%
PNR	B	-0.34%
NWSA	B	-0.33%
EQH	B	-0.32%
TW	A	-0.32%
RGA	B	-0.31%
L	A	-0.31%
INCY	C	-0.3%
ROL	B	-0.29%
FTI	A	-0.29%
CPT	C	-0.28%
ELS	B	-0.28%
SW	A	-0.28%
NBIX	C	-0.27%
UHS	D	-0.27%
ATR	B	-0.27%
REG	A	-0.27%
JLL	D	-0.27%
JNPR	D	-0.27%
BXP	D	-0.26%
OWL	A	-0.26%
CHRW	B	-0.26%
AAON	B	-0.25%
EXP	B	-0.25%
DOX	D	-0.25%
TAP	B	-0.25%
WWD	B	-0.24%
INGR	B	-0.24%
HLNE	A	-0.23%
MORN	B	-0.23%
AFG	A	-0.23%
MUSA	B	-0.23%
ERIE	F	-0.23%
GL	C	-0.23%
SNX	D	-0.22%
SEIC	B	-0.22%
DVA	C	-0.22%
ALLY	C	-0.22%
QTWO	B	-0.21%
HSIC	C	-0.21%
EWTX	C	-0.21%
TFX	F	-0.21%
RBC	A	-0.21%
FRT	B	-0.21%
CRBG	B	-0.2%
SKX	F	-0.2%
CPB	D	-0.2%
FLS	A	-0.2%
SAIC	F	-0.2%
REXR	F	-0.2%
MTCH	F	-0.2%
HRL	D	-0.2%
ADC	A	-0.2%
BWA	D	-0.2%
RDNT	B	-0.2%
G	B	-0.2%
MHK	D	-0.19%
ACIW	B	-0.19%
PRCT	B	-0.19%
AOS	F	-0.19%
DBX	C	-0.19%
WMG	C	-0.18%
SUM	B	-0.18%
OSK	C	-0.18%
SIGI	B	-0.18%
MGY	A	-0.18%
AWI	B	-0.18%
ALTR	B	-0.18%
GNTX	F	-0.18%
THG	A	-0.18%
KTB	A	-0.17%
FTDR	B	-0.17%
DORM	B	-0.17%
ESNT	D	-0.17%
MTH	D	-0.17%
BFAM	F	-0.17%
HII	F	-0.17%
EPRT	A	-0.17%
POST	C	-0.16%
VVV	D	-0.16%
ZETA	D	-0.16%
ZD	B	-0.16%
ALE	A	-0.16%
PRIM	A	-0.16%
BGC	C	-0.16%
SKYW	B	-0.16%
OLLI	D	-0.16%
KBH	D	-0.16%
ZWS	B	-0.16%
ROAD	A	-0.16%
LOPE	B	-0.16%
PLXS	B	-0.16%
MIR	A	-0.15%
SEM	B	-0.15%
NWE	C	-0.15%
CRVL	A	-0.15%
KRYS	C	-0.15%
CALM	A	-0.15%
AXNX	A	-0.15%
DXC	D	-0.15%
GHC	B	-0.15%
PSN	C	-0.15%
PJT	B	-0.15%
AVT	C	-0.15%
CTRE	C	-0.15%
CRNX	C	-0.15%
CATY	B	-0.15%
BTU	C	-0.15%
VCTR	B	-0.14%
APAM	B	-0.14%
USLM	A	-0.14%
MWA	B	-0.14%
ESGR	B	-0.14%
WDFC	B	-0.14%
DLB	F	-0.14%
MHO	D	-0.14%
ATGE	B	-0.14%
SLGN	A	-0.14%
CHH	A	-0.14%
SMLR	B	-0.14%
CIVI	D	-0.14%
WKC	D	-0.13%
SXT	C	-0.13%
PLMR	A	-0.13%
NMIH	D	-0.13%
CBZ	B	-0.13%
BNL	D	-0.13%
FUL	F	-0.13%
SKWD	A	-0.13%
SHOO	D	-0.13%
NEU	D	-0.13%
AVA	C	-0.13%
UE	A	-0.13%
GPOR	A	-0.13%
GTES	A	-0.13%
AGR	A	-0.13%
FELE	B	-0.13%
FORM	F	-0.12%
CTS	C	-0.12%
LBRT	F	-0.12%
PAHC	B	-0.12%
NSA	C	-0.12%
PAG	B	-0.12%
ADUS	D	-0.12%
OGN	F	-0.12%
USM	B	-0.12%
PPC	B	-0.12%
PATK	D	-0.12%
HMN	B	-0.12%
QCRH	B	-0.12%
AMED	F	-0.12%
UFPT	C	-0.12%
WSBC	B	-0.12%
COLM	B	-0.12%
WU	F	-0.12%
PINC	B	-0.12%
WLK	F	-0.12%
HCKT	B	-0.11%
UVSP	B	-0.11%
PLAB	D	-0.11%
AMAL	B	-0.11%
LZB	B	-0.11%
AZZ	A	-0.11%
CPF	B	-0.11%
NHC	B	-0.11%
AMKR	F	-0.11%
VRRM	F	-0.11%
HCI	C	-0.11%
WABC	B	-0.11%
LTC	B	-0.11%
TWST	F	-0.11%
SBH	B	-0.11%
STRA	C	-0.11%
UNF	B	-0.11%
SPOK	B	-0.11%
HUBG	A	-0.11%
ADTN	A	-0.11%
BHE	B	-0.11%
MGRC	B	-0.11%
PLTK	B	-0.11%
MTX	C	-0.11%
GNE	F	-0.1%
ASTH	F	-0.1%
TPC	C	-0.1%
UTI	A	-0.1%
KURA	F	-0.1%
DEA	D	-0.1%
INSW	F	-0.1%
SCSC	B	-0.1%
ACT	D	-0.1%
ROCK	D	-0.1%
THFF	B	-0.1%
SPNT	A	-0.1%
USPH	C	-0.1%
LEVI	F	-0.1%
AAT	A	-0.1%
URBN	C	-0.1%
WINA	B	-0.1%
SXC	A	-0.1%
IBCP	B	-0.1%
MSBI	B	-0.1%
STNG	D	-0.1%
REX	D	-0.1%
MCRI	A	-0.1%
CSV	B	-0.1%
SIRI	D	-0.1%
PEBO	B	-0.1%
ZYXI	D	-0.09%
CNXN	D	-0.09%
UTMD	F	-0.09%
MLR	C	-0.09%
CWCO	C	-0.09%
INFA	D	-0.09%
CFB	C	-0.09%
SMP	C	-0.09%
FF	F	-0.09%
FIZZ	C	-0.09%
WSR	A	-0.09%
REYN	D	-0.09%
SCHL	F	-0.09%
ANIP	D	-0.09%
OLP	A	-0.09%
BBSI	B	-0.09%
CASS	B	-0.09%
NVEC	D	-0.08%
ETD	D	-0.08%
STAA	F	-0.08%
COLL	F	-0.08%
EGY	F	-0.08%
SCVL	F	-0.08%
HCSG	C	-0.08%
ANDE	F	-0.08%
CNXC	F	-0.07%
SIGA	F	-0.07%
CECO	C	-0.07%
METC	C	-0.07%
EBF	D	-0.07%
NPK	C	-0.07%
KRT	B	-0.07%
RMR	F	-0.07%
SLP	F	-0.07%
TRNS	F	-0.07%
IMMR	F	-0.06%
GIC	F	-0.06%
MRVI	F	-0.06%
ASC	D	-0.06%
PANL	F	-0.06%
KELYA	F	-0.05%
CLW	F	-0.04%
JBI	F	-0.04%