SMLF vs. FYC ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to First Trust Small Cap Growth AlphaDEX Fund (FYC)

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

$72.91

Average Daily Volume

70,611

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

FYC

First Trust Small Cap Growth AlphaDEX Fund

FYC 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 Small 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 SmallCap 600(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

$83.11

Average Daily Volume

27,658

Number of Holdings ^*

240

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FYC
30 Days	7.55%	9.32%
60 Days	8.72%	10.25%
90 Days	9.84%	13.41%
12 Months	38.08%	44.40%

94 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FYC	Overlap
ACAD	C	0.11%	0.13%	0.11%
ACLX	C	0.17%	0.68%	0.17%
ADMA	B	0.06%	0.6%	0.06%
AGM	B	0.1%	0.26%	0.1%
AGYS	A	0.04%	0.26%	0.04%
AIV	C	0.06%	0.22%	0.06%
ALHC	C	0.03%	0.65%	0.03%
ALX	D	0.1%	0.21%	0.1%
AMPH	F	0.07%	0.33%	0.07%
AMRX	C	0.07%	0.64%	0.07%
APOG	C	0.11%	0.42%	0.11%
AROC	A	0.12%	0.27%	0.12%
AWR	B	0.12%	0.12%	0.12%
BANF	B	0.14%	0.41%	0.14%
BCRX	D	0.11%	0.47%	0.11%
BEAM	D	0.05%	0.13%	0.05%
BKD	F	0.03%	0.28%	0.03%
BL	B	0.16%	0.13%	0.13%
BRC	D	0.17%	0.34%	0.17%
CAKE	C	0.01%	0.42%	0.01%
CARG	B	0.11%	0.42%	0.11%
CARS	C	0.08%	0.13%	0.08%
CDP	C	0.03%	0.24%	0.03%
CEIX	A	0.07%	0.28%	0.07%
CHCO	B	0.0%	0.39%	0.0%
CHWY	B	0.03%	0.53%	0.03%
CMPR	D	0.1%	0.23%	0.1%
CPRX	C	0.24%	0.52%	0.24%
CRAI	C	0.01%	0.51%	0.01%
DNLI	D	0.2%	0.23%	0.2%
DOCN	C	0.02%	0.33%	0.02%
DOCS	C	0.15%	0.71%	0.15%
ENVA	B	0.01%	0.72%	0.01%
EPAC	C	0.07%	0.27%	0.07%
EPR	C	0.02%	0.22%	0.02%
EVH	F	0.02%	0.21%	0.02%
FBP	C	0.0%	0.47%	0.0%
FLNC	D	0.07%	0.32%	0.07%
FOLD	F	0.05%	0.11%	0.05%
GFF	A	0.12%	0.39%	0.12%
HEES	C	0.09%	0.29%	0.09%
HNI	B	0.03%	0.61%	0.03%
HURN	C	0.25%	0.39%	0.25%
HWKN	B	0.06%	0.58%	0.06%
ICFI	F	0.1%	0.33%	0.1%
IDCC	B	0.09%	0.76%	0.09%
IESC	C	0.03%	0.79%	0.03%
INTA	B	0.27%	0.57%	0.27%
JAMF	F	0.01%	0.1%	0.01%
JANX	C	0.03%	0.54%	0.03%
JOE	F	0.19%	0.1%	0.1%
KN	B	0.08%	0.36%	0.08%
KW	C	0.1%	0.23%	0.1%
LGND	C	0.09%	0.28%	0.09%
LMAT	A	0.02%	0.52%	0.02%
LPG	F	0.04%	0.09%	0.04%
LRN	A	0.16%	0.7%	0.16%
MAC	B	0.31%	0.25%	0.25%
MCY	A	0.06%	0.69%	0.06%
MGNI	B	0.03%	0.42%	0.03%
NHI	D	0.04%	0.32%	0.04%
NSSC	D	0.08%	0.11%	0.08%
OII	B	0.11%	0.39%	0.11%
OSCR	D	0.08%	0.43%	0.08%
OSIS	A	0.02%	0.35%	0.02%
OUT	A	0.04%	0.48%	0.04%
POWL	C	0.38%	0.81%	0.38%
PRGS	A	0.18%	0.48%	0.18%
PTCT	B	0.02%	0.54%	0.02%
PZZA	F	0.05%	0.11%	0.05%
REVG	C	0.03%	0.63%	0.03%
RNG	C	0.19%	0.41%	0.19%
SATS	D	0.12%	0.53%	0.12%
SCS	C	0.08%	0.23%	0.08%
SKT	A	0.24%	0.26%	0.24%
SLVM	B	0.02%	0.58%	0.02%
SMTC	B	0.05%	0.49%	0.05%
STRL	A	0.29%	0.75%	0.29%
SWI	C	0.01%	0.25%	0.01%
TBBK	B	0.0%	0.6%	0.0%
TGTX	B	0.03%	0.79%	0.03%
THR	B	0.05%	0.12%	0.05%
TNC	D	0.06%	0.11%	0.06%
TNL	A	0.16%	0.28%	0.16%
TR	B	0.01%	0.12%	0.01%
TRN	B	0.06%	0.64%	0.06%
VCYT	B	0.18%	0.65%	0.18%
VECO	F	0.1%	0.1%	0.1%
VITL	D	0.03%	0.39%	0.03%
WEN	D	0.12%	0.12%	0.12%
WTTR	A	0.06%	0.43%	0.06%
XPRO	D	0.01%	0.09%	0.01%
YELP	C	0.06%	0.12%	0.06%
YOU	D	0.23%	0.48%	0.23%

SMLF Overweight 716 Positions Relative to FYC

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%
CVNA	B	0.46%
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%
LPX	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%
UTHR	C	0.38%
DKS	D	0.38%
MEDP	D	0.38%
BRX	A	0.37%
AM	A	0.37%
WING	D	0.36%
CNM	D	0.36%
WFRD	D	0.35%
CR	A	0.35%
AYI	B	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%
ITT	A	0.31%
FLEX	B	0.31%
FR	D	0.31%
SOLV	D	0.31%
DDS	B	0.31%
THC	D	0.31%
TPR	B	0.3%
ALKS	C	0.3%
SPXC	A	0.3%
CORT	B	0.3%
ANF	F	0.3%
CHE	D	0.3%
GGG	B	0.3%
EXE	A	0.29%
TTEK	F	0.29%
PSTG	D	0.29%
PRI	B	0.28%
R	B	0.28%
AGO	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%
AMH	C	0.25%
OVV	B	0.25%
MOD	A	0.25%
CFR	B	0.25%
TPX	B	0.24%
CBSH	B	0.24%
TREX	C	0.24%
RMBS	B	0.24%
AN	C	0.24%
HALO	F	0.24%
EXEL	B	0.24%
IMKTA	C	0.24%
ZION	B	0.24%
CW	C	0.23%
ENTG	D	0.23%
GAP	C	0.23%
LSCC	D	0.23%
AMG	B	0.23%
UFPI	C	0.23%
EXLS	B	0.23%
BCC	B	0.22%
SANM	B	0.22%
GPI	B	0.22%
APA	D	0.22%
RPM	A	0.22%
WS	C	0.22%
COKE	C	0.22%
AXSM	B	0.22%
MATX	C	0.21%
RNR	C	0.21%
AR	B	0.21%
TOST	B	0.21%
BLD	D	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%
BBWI	C	0.2%
HAE	C	0.2%
WCC	B	0.2%
TPG	A	0.2%
LUMN	C	0.2%
TEX	F	0.19%
M	F	0.19%
SMG	C	0.19%
CROX	D	0.19%
NAVI	F	0.19%
ACM	B	0.19%
GH	B	0.19%
MUR	D	0.19%
HAS	D	0.19%
RRC	B	0.19%
HLI	A	0.18%
KNSL	B	0.18%
XRX	F	0.18%
ARW	D	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
ESAB	C	0.18%
USFD	A	0.18%
HIW	C	0.18%
OC	A	0.18%
GLPI	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%
TKR	D	0.17%
LNW	F	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%
AIZ	A	0.17%
EXTR	C	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%
ALLE	C	0.16%
BMI	B	0.16%
BJ	A	0.16%
WTM	A	0.16%
SLM	A	0.16%
CVCO	A	0.16%
TOL	B	0.16%
GME	C	0.16%
CNO	B	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%
VMI	B	0.15%
FTAI	A	0.15%
SPB	C	0.15%
ABG	C	0.15%
CWEN	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%
IGT	F	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%
TPH	D	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%
SAIA	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	B	0.12%
ACLS	F	0.12%
NYT	D	0.12%
OGE	A	0.12%
BKE	B	0.12%
WH	B	0.12%
KRC	B	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%
FHI	B	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%
DFIN	D	0.11%
LOVE	A	0.11%
CUBE	C	0.11%
MFA	D	0.11%
HTH	C	0.11%
CRUS	D	0.11%
SPSC	D	0.11%
BAND	B	0.11%
ODP	F	0.11%
CHX	C	0.11%
CXW	C	0.11%
MCB	B	0.11%
MDGL	B	0.11%
NSP	F	0.11%
MTRN	C	0.1%
ASB	B	0.1%
CHDN	B	0.1%
HP	C	0.1%
ACA	A	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%
CRC	A	0.1%
LSTR	D	0.1%
NNN	C	0.1%
HUN	F	0.1%
HOV	D	0.1%
SYNA	C	0.1%
X	B	0.1%
LYFT	C	0.1%
WAL	B	0.1%
KLIC	B	0.1%
BERY	C	0.1%
INSM	C	0.1%
WMS	F	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
EEFT	B	0.09%
VSH	F	0.09%
CXT	C	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%
ATEN	A	0.09%
APG	B	0.09%
PBH	A	0.09%
HI	C	0.09%
CAR	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
PLNT	A	0.09%
EGP	D	0.09%
BC	C	0.09%
ALIT	C	0.09%
TGNA	B	0.09%
TMHC	C	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%
SON	F	0.09%
CRS	B	0.09%
EXPO	D	0.09%
VC	F	0.08%
FIVN	C	0.08%
TENB	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%
FHB	B	0.08%
PD	C	0.08%
YETI	D	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%
AGX	B	0.08%
CUZ	B	0.08%
KSS	F	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%
PEN	B	0.07%
EYPT	D	0.07%
WYNN	C	0.07%
MATV	D	0.07%
VAC	C	0.07%
RIG	D	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	B	0.07%
WLY	B	0.07%
NBR	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%
NXST	C	0.07%
WNC	C	0.07%
NVST	B	0.06%
CC	C	0.06%
AVXL	B	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%
NXT	C	0.06%
ILPT	F	0.06%
AMCX	C	0.06%
HCC	B	0.06%
CNX	A	0.06%
STWD	C	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%
CASY	A	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
BCO	F	0.06%
SFL	D	0.06%
APPF	B	0.06%
AZEK	A	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
KD	B	0.06%
MED	D	0.06%
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%
ITRI	C	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
TILE	B	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%
ZIP	D	0.05%
VNT	C	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%
DIN	C	0.04%
PRGO	C	0.04%
FLYW	B	0.04%
AGS	A	0.04%
IDT	B	0.04%
ENS	F	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%
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%
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%
SWIM	C	0.03%
AXTA	B	0.03%
GMED	A	0.03%
VIAV	C	0.03%
ALRM	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%
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%
SNBR	F	0.03%
RYI	C	0.03%
UDMY	D	0.03%
ARCH	B	0.03%
SLAB	F	0.03%
BRSP	C	0.03%
AMN	F	0.03%
ACCD	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%
CVI	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SSB	B	0.02%
CACI	D	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%
VSTS	C	0.02%
BRY	F	0.02%
DYN	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%
MSA	F	0.02%
JELD	F	0.02%
EDR	A	0.02%
KRNY	C	0.02%
DAN	D	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	C	0.02%
NUS	D	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%
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%
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%
PCH	F	0.01%
EPC	F	0.01%
SFIX	B	0.01%
POWI	F	0.01%
FLWS	D	0.01%
TDC	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%
BKH	A	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	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%
HMST	F	0.01%
AXS	A	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%
BYD	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%
SEE	C	0.0%
GDOT	D	0.0%
NBTB	B	0.0%
EGBN	B	0.0%
FULT	A	0.0%
EIG	B	0.0%
JXN	C	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%
UNM	A	0.0%
PRDO	B	0.0%
BKU	A	0.0%
CMA	B	0.0%
AX	B	0.0%
OFG	B	0.0%

SMLF Underweight 146 Positions Relative to FYC

Symbol	Grade	Weight
RKLB	A	-1.06%
EAT	A	-0.91%
PAYO	A	-0.82%
PRIM	A	-0.81%
ROAD	B	-0.76%
WWW	A	-0.75%
TRUP	B	-0.74%
QCRH	B	-0.73%
GVA	A	-0.72%
WULF	C	-0.71%
PJT	A	-0.71%
STEP	C	-0.69%
USLM	A	-0.69%
FTDR	B	-0.69%
RYTM	C	-0.68%
CNK	C	-0.68%
ATGE	B	-0.67%
LMND	B	-0.67%
GSHD	A	-0.64%
PRCT	B	-0.64%
SKYW	C	-0.62%
PBI	B	-0.61%
PTON	A	-0.6%
NHC	C	-0.6%
CHEF	A	-0.59%
DSGR	C	-0.59%
AGIO	C	-0.59%
CALM	A	-0.58%
KYMR	D	-0.58%
SKWD	A	-0.58%
MIRM	B	-0.57%
SGBX	F	-0.57%
SYBT	B	-0.57%
DORM	B	-0.57%
CWAN	B	-0.57%
ALKT	B	-0.56%
VCTR	B	-0.55%
NBHC	C	-0.55%
PRK	B	-0.55%
MWA	B	-0.54%
PRM	C	-0.54%
CDE	C	-0.54%
OSW	B	-0.54%
PTGX	D	-0.54%
PLMR	A	-0.53%
MNKD	C	-0.53%
TGLS	B	-0.51%
NPAB	F	-0.49%
CCOI	B	-0.49%
LFST	B	-0.49%
SABR	C	-0.48%
AORT	B	-0.48%
UFPT	C	-0.47%
LITE	B	-0.47%
CENX	B	-0.46%
VERX	A	-0.45%
MBIN	F	-0.43%
ASTH	F	-0.43%
NMIH	C	-0.43%
SITM	B	-0.42%
NRIX	C	-0.42%
SHAK	C	-0.42%
GABC	B	-0.41%
CIFR	C	-0.4%
BGC	C	-0.4%
SEMR	C	-0.4%
WT	A	-0.4%
GERN	D	-0.39%
HRMY	D	-0.39%
UE	B	-0.38%
KTOS	B	-0.38%
ESE	B	-0.38%
BLBD	D	-0.38%
COLL	F	-0.37%
AZZ	A	-0.36%
AAT	B	-0.36%
ESRT	C	-0.33%
IOVA	F	-0.32%
PMT	C	-0.32%
ADUS	D	-0.32%
CWT	C	-0.32%
ASPN	F	-0.32%
NSA	C	-0.31%
WRBY	A	-0.31%
HLIT	D	-0.3%
KNTK	A	-0.3%
TWST	F	-0.3%
BLFS	C	-0.3%
MGEE	B	-0.28%
DRVN	B	-0.28%
IIPR	D	-0.27%
LKFN	C	-0.27%
OCUL	D	-0.27%
NEO	C	-0.26%
WDFC	B	-0.26%
SXI	B	-0.26%
BANC	B	-0.26%
ARQT	B	-0.25%
ANIP	F	-0.24%
TNDM	D	-0.24%
UMH	B	-0.24%
IAS	C	-0.24%
CPK	A	-0.24%
NXRT	B	-0.24%
FCPT	C	-0.23%
GTX	C	-0.23%
JJSF	C	-0.23%
SXT	C	-0.23%
GTY	A	-0.23%
ACVA	B	-0.23%
PHR	F	-0.22%
AESI	B	-0.22%
HLX	B	-0.22%
ELME	D	-0.22%
CDRE	F	-0.21%
HUMA	F	-0.21%
RXST	F	-0.21%
NVAX	F	-0.2%
MYGN	F	-0.2%
SOUN	B	-0.17%
TGI	B	-0.16%
MIR	A	-0.16%
ARDX	F	-0.16%
PAR	A	-0.16%
CBZ	B	-0.14%
SMPL	B	-0.13%
CLB	B	-0.13%
APPN	B	-0.13%
APAM	B	-0.13%
MLNK	C	-0.13%
CTS	C	-0.13%
WABC	B	-0.13%
PLAY	D	-0.13%
FBRT	D	-0.12%
AMC	C	-0.12%
LTC	B	-0.12%
STRA	C	-0.12%
RRR	F	-0.11%
ARLO	C	-0.11%
ENVX	F	-0.11%
BXMT	C	-0.11%
IRDM	D	-0.11%
GNL	F	-0.1%
AZTA	D	-0.1%
CLDX	F	-0.09%
RLAY	F	-0.09%