SMLF vs. IWR ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to iShares Russell Mid-Cap ETF (IWR)

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

IWR

iShares Russell Mid-Cap ETF

IWR Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities. 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 underlying index measures the performance of the mid-capitalization sector of the U.S. equity market. The underlying index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000Â® Index.

Grade (RS Rating)

Last Trade

$87.95

Average Daily Volume

1,141,867

Number of Holdings ^*

802

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	IWR
30 Days	4.99%	4.05%
60 Days	10.44%	10.52%
90 Days	9.91%	9.48%
12 Months	33.05%	31.66%

296 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in IWR	Overlap
AA	B	0.13%	0.08%	0.08%
ACHC	F	0.07%	0.05%	0.05%
ACI	F	0.05%	0.07%	0.05%
ACM	A	0.19%	0.12%	0.12%
ADT	D	0.03%	0.02%	0.02%
AFRM	C	0.05%	0.08%	0.05%
AGCO	D	0.22%	0.05%	0.05%
AGNC	B	0.19%	0.07%	0.07%
AGO	B	0.24%	0.04%	0.04%
AIZ	B	0.17%	0.09%	0.09%
ALAB	C	0.01%	0.01%	0.01%
ALGM	F	0.01%	0.02%	0.01%
ALLE	A	0.17%	0.11%	0.11%
ALSN	A	0.48%	0.07%	0.07%
AM	A	0.39%	0.04%	0.04%
AMG	B	0.23%	0.05%	0.05%
AMH	D	0.26%	0.11%	0.11%
AN	D	0.27%	0.04%	0.04%
APA	F	0.25%	0.08%	0.08%
APG	F	0.09%	0.06%	0.06%
APLS	F	0.06%	0.02%	0.02%
APP	A	0.7%	0.29%	0.29%
APPF	C	0.07%	0.05%	0.05%
AR	C	0.21%	0.07%	0.07%
ARW	C	0.22%	0.06%	0.06%
ASH	F	0.08%	0.04%	0.04%
ATI	C	0.17%	0.07%	0.07%
AXON	A	0.45%	0.24%	0.24%
AXS	A	0.01%	0.05%	0.01%
AXTA	C	0.02%	0.07%	0.02%
AYI	A	0.31%	0.08%	0.08%
AZEK	D	0.07%	0.06%	0.06%
AZPN	A	0.22%	0.05%	0.05%
BBWI	F	0.22%	0.06%	0.06%
BC	C	0.1%	0.05%	0.05%
BERY	C	0.11%	0.07%	0.07%
BILL	D	0.03%	0.04%	0.03%
BJ	B	0.16%	0.1%	0.1%
BLD	D	0.25%	0.11%	0.11%
BPOP	D	0.57%	0.06%	0.06%
BRBR	A	0.05%	0.07%	0.05%
BRKR	D	0.19%	0.06%	0.06%
BRX	C	0.37%	0.07%	0.07%
BSY	D	0.14%	0.06%	0.06%
BWXT	A	0.12%	0.09%	0.09%
BYD	B	0.01%	0.04%	0.01%
CACC	F	0.09%	0.02%	0.02%
CACI	A	0.02%	0.1%	0.02%
CAR	D	0.08%	0.01%	0.01%
CASY	D	0.06%	0.12%	0.06%
CAVA	B	0.32%	0.08%	0.08%
CBSH	D	0.21%	0.06%	0.06%
CC	D	0.06%	0.03%	0.03%
CELH	F	0.05%	0.05%	0.05%
CFR	B	0.21%	0.05%	0.05%
CHDN	C	0.09%	0.08%	0.08%
CHE	D	0.34%	0.08%	0.08%
CHK	C	0.26%	0.16%	0.16%
CHRD	F	0.03%	0.07%	0.03%
CIEN	A	0.03%	0.08%	0.03%
CLH	B	0.07%	0.11%	0.07%
CLVT	D	0.04%	0.02%	0.02%
CMA	C	0.0%	0.06%	0.0%
CNM	F	0.41%	0.07%	0.07%
COKE	C	0.25%	0.07%	0.07%
COTY	F	0.07%	0.03%	0.03%
CR	A	0.34%	0.07%	0.07%
CROX	C	0.29%	0.07%	0.07%
CRUS	D	0.14%	0.05%	0.05%
CSL	A	0.42%	0.18%	0.18%
CUBE	C	0.13%	0.1%	0.1%
CUZ	C	0.08%	0.04%	0.04%
CVNA	A	0.34%	0.16%	0.16%
CW	A	0.21%	0.11%	0.11%
CWEN	C	0.18%	0.01%	0.01%
CWEN	C	0.18%	0.02%	0.02%
CXT	F	0.09%	0.02%	0.02%
DCI	B	0.18%	0.08%	0.08%
DDS	D	0.3%	0.01%	0.01%
DECK	B	0.68%	0.2%	0.2%
DINO	F	0.01%	0.06%	0.01%
DKS	D	0.42%	0.1%	0.1%
DNB	D	0.03%	0.03%	0.03%
DOCS	A	0.13%	0.05%	0.05%
DTM	A	0.16%	0.07%	0.07%
DUOL	B	0.4%	0.09%	0.09%
EEFT	F	0.09%	0.04%	0.04%
EGP	D	0.1%	0.08%	0.08%
EHC	C	0.05%	0.08%	0.05%
ELAN	D	0.08%	0.06%	0.06%
ELF	F	0.19%	0.05%	0.05%
EME	B	0.84%	0.17%	0.17%
ENTG	D	0.27%	0.14%	0.14%
EPR	C	0.02%	0.03%	0.02%
ESAB	C	0.16%	0.05%	0.05%
ESI	C	0.15%	0.05%	0.05%
ESTC	F	0.23%	0.05%	0.05%
ETSY	F	0.23%	0.05%	0.05%
EVR	C	0.72%	0.08%	0.08%
EWBC	B	0.32%	0.09%	0.09%
EXEL	B	0.19%	0.06%	0.06%
FAF	C	0.17%	0.06%	0.06%
FCN	C	0.04%	0.07%	0.04%
FCNCA	D	0.25%	0.19%	0.19%
FHB	D	0.07%	0.02%	0.02%
FHN	D	0.04%	0.07%	0.04%
FIVN	F	0.06%	0.02%	0.02%
FIX	A	0.41%	0.12%	0.12%
FLO	D	0.07%	0.04%	0.04%
FR	D	0.35%	0.06%	0.06%
FYBR	C	0.14%	0.07%	0.07%
GAP	F	0.23%	0.04%	0.04%
GGG	C	0.31%	0.12%	0.12%
GLPI	C	0.2%	0.11%	0.11%
GME	D	0.14%	0.07%	0.07%
GMED	B	0.02%	0.07%	0.02%
GNRC	B	0.13%	0.08%	0.08%
GO	F	0.01%	0.01%	0.01%
GPK	D	0.28%	0.08%	0.08%
GTLB	D	0.34%	0.05%	0.05%
GWRE	A	0.01%	0.13%	0.01%
HAS	A	0.23%	0.09%	0.09%
HIW	C	0.2%	0.03%	0.03%
HLI	A	0.16%	0.07%	0.07%
HOG	D	0.19%	0.04%	0.04%
HRB	C	0.45%	0.07%	0.07%
HUN	B	0.13%	0.03%	0.03%
HXL	F	0.01%	0.04%	0.01%
IBKR	A	0.37%	0.13%	0.13%
IDA	D	0.43%	0.04%	0.04%
INSP	C	0.14%	0.05%	0.05%
IONS	F	0.16%	0.05%	0.05%
ITCI	D	0.05%	0.06%	0.05%
ITT	C	0.32%	0.1%	0.1%
IVZ	A	0.1%	0.05%	0.05%
JBL	C	0.55%	0.11%	0.11%
JEF	A	0.34%	0.09%	0.09%
JHG	A	0.27%	0.04%	0.04%
KBR	A	0.13%	0.08%	0.08%
KD	D	0.05%	0.04%	0.04%
KIM	C	0.15%	0.13%	0.13%
KNSL	B	0.18%	0.09%	0.09%
KRC	C	0.13%	0.04%	0.04%
KSS	D	0.1%	0.02%	0.02%
LAMR	C	0.36%	0.1%	0.1%
LAZ	C	0.1%	0.05%	0.05%
LBRDA	C	0.37%	0.01%	0.01%
LBTYA	C	0.26%	0.03%	0.03%
LBTYK	C	0.09%	0.03%	0.03%
LECO	D	0.05%	0.09%	0.05%
LFUS	C	0.06%	0.05%	0.05%
LNW	F	0.18%	0.07%	0.07%
LPX	C	0.41%	0.06%	0.06%
LSCC	D	0.25%	0.06%	0.06%
LSTR	F	0.1%	0.06%	0.06%
LYFT	D	0.08%	0.04%	0.04%
M	D	0.19%	0.04%	0.04%
MAN	D	0.05%	0.03%	0.03%
MANH	A	0.53%	0.14%	0.14%
MASI	B	0.07%	0.05%	0.05%
MAT	B	0.12%	0.06%	0.06%
MDU	C	0.06%	0.05%	0.05%
MEDP	F	0.4%	0.07%	0.07%
MIDD	D	0.09%	0.06%	0.06%
MKSI	F	0.08%	0.06%	0.06%
MPW	C	0.09%	0.03%	0.03%
MSA	F	0.02%	0.05%	0.02%
MSM	D	0.02%	0.03%	0.02%
MSTR	B	0.41%	0.22%	0.22%
MTG	A	0.1%	0.06%	0.06%
MTN	D	0.09%	0.06%	0.06%
MTSI	B	0.08%	0.05%	0.05%
NDSN	C	0.19%	0.13%	0.13%
NFG	A	0.13%	0.05%	0.05%
NNN	C	0.12%	0.08%	0.08%
NOV	F	0.13%	0.05%	0.05%
NTNX	C	0.5%	0.12%	0.12%
NTRA	A	0.35%	0.12%	0.12%
NVST	D	0.06%	0.03%	0.03%
NVT	C	0.5%	0.1%	0.1%
NWL	D	0.02%	0.03%	0.02%
NXST	D	0.08%	0.04%	0.04%
NYT	C	0.13%	0.08%	0.08%
OC	C	0.17%	0.13%	0.13%
OGE	C	0.13%	0.07%	0.07%
OHI	C	0.1%	0.09%	0.09%
OLED	B	0.05%	0.08%	0.05%
OLN	D	0.12%	0.05%	0.05%
OMF	D	0.15%	0.04%	0.04%
ONTO	B	0.21%	0.08%	0.08%
ORI	A	0.41%	0.08%	0.08%
OVV	D	0.22%	0.09%	0.09%
OZK	D	0.07%	0.04%	0.04%
PARA	F	0.11%	0.05%	0.05%
PATH	D	0.05%	0.05%	0.05%
PCOR	D	0.38%	0.05%	0.05%
PCTY	C	0.12%	0.06%	0.06%
PEGA	B	0.07%	0.03%	0.03%
PEN	D	0.06%	0.06%	0.06%
PII	D	0.02%	0.04%	0.02%
PK	D	0.06%	0.02%	0.02%
PLNT	B	0.08%	0.06%	0.06%
PNFP	B	0.08%	0.06%	0.06%
PR	D	0.02%	0.08%	0.02%
PRGO	F	0.04%	0.03%	0.03%
PRI	A	0.26%	0.08%	0.08%
PSTG	F	0.3%	0.13%	0.13%
PVH	D	0.17%	0.05%	0.05%
PYCR	D	0.01%	0.01%	0.01%
QDEL	D	0.04%	0.02%	0.02%
R	C	0.26%	0.05%	0.05%
RGEN	F	0.08%	0.07%	0.07%
RGLD	C	0.14%	0.08%	0.08%
RHI	D	0.16%	0.06%	0.06%
RKT	D	0.05%	0.02%	0.02%
RL	B	0.15%	0.07%	0.07%
RLI	A	0.03%	0.06%	0.03%
RNG	F	0.17%	0.02%	0.02%
RNR	A	0.23%	0.12%	0.12%
ROIV	D	0.01%	0.04%	0.01%
ROKU	C	0.04%	0.08%	0.04%
RPM	A	0.21%	0.13%	0.13%
RRC	D	0.19%	0.06%	0.06%
RRX	B	0.2%	0.09%	0.09%
RS	D	0.48%	0.14%	0.14%
RYAN	A	0.13%	0.06%	0.06%
RYN	C	0.07%	0.04%	0.04%
S	C	0.05%	0.05%	0.05%
SAIA	D	0.1%	0.1%	0.1%
SCI	D	0.14%	0.1%	0.1%
SEE	C	0.0%	0.04%	0.0%
SF	A	0.15%	0.08%	0.08%
SITE	D	0.05%	0.06%	0.05%
SLM	B	0.16%	0.04%	0.04%
SMAR	A	0.27%	0.06%	0.06%
SMG	C	0.23%	0.03%	0.03%
SN	A	0.3%	0.06%	0.06%
SNV	D	0.04%	0.05%	0.04%
SOFI	C	0.04%	0.07%	0.04%
SOLV	C	0.33%	0.08%	0.08%
SON	D	0.11%	0.05%	0.05%
SPB	C	0.16%	0.02%	0.02%
SRPT	F	0.23%	0.09%	0.09%
SSD	B	0.16%	0.07%	0.07%
STAG	D	0.04%	0.06%	0.04%
STWD	C	0.06%	0.05%	0.05%
TDC	D	0.01%	0.02%	0.01%
THC	D	0.33%	0.13%	0.13%
THO	C	0.13%	0.05%	0.05%
TKR	B	0.2%	0.05%	0.05%
TNL	B	0.15%	0.03%	0.03%
TOL	C	0.17%	0.14%	0.14%
TOST	B	0.16%	0.11%	0.11%
TPG	A	0.19%	0.04%	0.04%
TPR	B	0.26%	0.09%	0.09%
TPX	C	0.25%	0.08%	0.08%
TREX	D	0.24%	0.06%	0.06%
TTC	F	0.16%	0.08%	0.08%
TTEK	A	0.34%	0.11%	0.11%
TXRH	A	0.07%	0.1%	0.07%
UA	B	0.14%	0.01%	0.01%
UGI	C	0.11%	0.04%	0.04%
UNM	A	0.0%	0.08%	0.0%
USFD	C	0.17%	0.12%	0.12%
UTHR	C	0.37%	0.13%	0.13%
VAC	D	0.06%	0.02%	0.02%
VFC	A	0.08%	0.06%	0.06%
VIRT	B	0.03%	0.02%	0.02%
VKTX	C	0.07%	0.06%	0.06%
VMI	B	0.13%	0.05%	0.05%
VNO	B	0.4%	0.06%	0.06%
VNT	F	0.05%	0.04%	0.04%
VOYA	A	0.17%	0.07%	0.07%
VSTS	D	0.02%	0.02%	0.02%
W	C	0.23%	0.04%	0.04%
WAL	C	0.1%	0.08%	0.08%
WBA	F	0.06%	0.05%	0.05%
WBS	D	0.04%	0.07%	0.04%
WCC	D	0.17%	0.06%	0.06%
WEN	B	0.12%	0.03%	0.03%
WEX	C	0.11%	0.07%	0.07%
WFRD	F	0.37%	0.05%	0.05%
WH	C	0.11%	0.05%	0.05%
WING	C	0.47%	0.11%	0.11%
WMS	D	0.13%	0.09%	0.09%
WSC	D	0.1%	0.06%	0.06%
WSM	C	0.52%	0.16%	0.16%
WSO	C	0.31%	0.15%	0.15%
WTFC	B	0.02%	0.06%	0.02%
WTM	C	0.15%	0.04%	0.04%
WYNN	B	0.07%	0.09%	0.07%
X	F	0.1%	0.07%	0.07%
XPO	F	0.13%	0.1%	0.1%
XRAY	D	0.31%	0.05%	0.05%
YETI	C	0.09%	0.03%	0.03%
ZION	D	0.2%	0.06%	0.06%

SMLF Overweight 520 Positions Relative to IWR

Symbol	Grade	Weight
SFM	A	0.48%
SLG	C	0.46%
MLI	B	0.41%
IOT	C	0.4%
COOP	B	0.4%
COCO	C	0.39%
VGR	B	0.33%
ANF	D	0.32%
MAC	B	0.31%
WK	D	0.31%
PIPR	A	0.3%
ALKS	B	0.3%
SPXC	A	0.3%
POWL	B	0.29%
MOD	B	0.29%
OFG	D	0.29%
FLEX	B	0.29%
YOU	C	0.29%
SIG	C	0.28%
HALO	D	0.27%
IMKTA	F	0.26%
HSII	D	0.26%
CORT	B	0.25%
HURN	D	0.24%
LNTH	C	0.24%
UFPI	C	0.24%
STRL	B	0.24%
XRX	D	0.23%
BCC	C	0.23%
JOE	D	0.23%
INTA	C	0.23%
SKT	A	0.23%
AXSM	D	0.22%
DNLI	C	0.22%
CPRX	C	0.22%
LIVN	C	0.21%
JBSS	F	0.21%
FBP	B	0.21%
GPI	C	0.21%
ATKR	F	0.2%
RMBS	F	0.2%
SANM	D	0.2%
MUR	F	0.2%
EXLS	B	0.2%
NAVI	D	0.2%
HAE	F	0.19%
GES	F	0.19%
MATX	C	0.19%
AVNT	C	0.19%
TEX	F	0.19%
TDOC	D	0.18%
FROG	F	0.18%
WS	D	0.18%
KFRC	F	0.18%
BRC	C	0.18%
PRG	C	0.18%
LUMN	C	0.18%
PRGS	A	0.18%
PDM	C	0.18%
PI	A	0.17%
VCYT	C	0.17%
PGRE	D	0.17%
EXTR	D	0.17%
ACLS	F	0.17%
KRG	C	0.17%
CVCO	C	0.16%
SKY	C	0.16%
IGT	F	0.16%
PRKS	C	0.16%
MMYT	B	0.16%
SATS	C	0.16%
TPH	C	0.16%
SQSP	A	0.16%
BMI	A	0.16%
AMR	F	0.15%
NJR	C	0.15%
ABG	D	0.15%
AY	C	0.15%
CNO	B	0.15%
NOVT	C	0.15%
ONON	A	0.15%
SPT	F	0.15%
IVT	B	0.15%
ACLX	C	0.15%
GH	F	0.15%
NUVL	B	0.15%
TNET	D	0.14%
CMC	D	0.14%
ODP	F	0.14%
OGS	C	0.14%
NSP	F	0.14%
MMSI	C	0.14%
LRN	D	0.14%
BL	D	0.14%
SBGI	A	0.14%
SRCE	D	0.14%
ENSG	D	0.14%
SPSC	D	0.13%
HOV	D	0.13%
BRZE	F	0.13%
YEXT	B	0.13%
VECO	F	0.13%
VSTO	B	0.13%
BPMC	F	0.13%
WTS	C	0.13%
GOLF	F	0.13%
SSTK	F	0.13%
FTAI	A	0.13%
IPAR	D	0.13%
CBT	B	0.13%
BLKB	C	0.13%
MFA	C	0.13%
GATX	F	0.13%
XNCR	D	0.13%
GFF	C	0.12%
BKE	B	0.12%
CHX	C	0.12%
VRNS	B	0.12%
ALX	D	0.12%
SFBS	B	0.12%
KAI	C	0.12%
UMBF	C	0.12%
QLYS	F	0.12%
LILA	B	0.12%
BANF	D	0.12%
AWR	B	0.12%
BCRX	D	0.12%
ACCO	C	0.12%
WAFD	D	0.12%
DFIN	B	0.12%
SR	D	0.12%
PTEN	F	0.11%
NTCT	C	0.11%
KLIC	D	0.11%
VSH	F	0.11%
ACAD	F	0.11%
EXPI	C	0.11%
PNM	B	0.11%
AIT	B	0.11%
CMPR	F	0.11%
AROC	B	0.11%
BAND	C	0.11%
SYNA	F	0.11%
CYTK	D	0.11%
INSM	D	0.11%
ICFI	C	0.11%
PCVX	C	0.11%
COUR	F	0.11%
OPCH	F	0.11%
OSCR	C	0.11%
EXPO	A	0.11%
HTH	F	0.11%
NSSC	F	0.1%
MTRN	F	0.1%
AAN	B	0.1%
UPBD	F	0.1%
CARG	C	0.1%
TMHC	C	0.1%
INVA	B	0.1%
FHI	A	0.1%
BASE	F	0.1%
APOG	B	0.1%
NYCB	D	0.1%
KW	C	0.1%
MATV	F	0.1%
SWN	D	0.1%
OII	D	0.1%
VMEO	C	0.1%
RDDT	B	0.1%
LOVE	C	0.1%
BDC	A	0.09%
HASI	B	0.09%
NSIT	B	0.09%
BECN	D	0.09%
ALIT	D	0.09%
JACK	F	0.09%
DNOW	F	0.09%
HP	D	0.09%
CRC	B	0.09%
SITC	D	0.09%
CAL	F	0.09%
ACA	C	0.09%
CRS	B	0.09%
PLUS	B	0.09%
HIMS	C	0.09%
MCB	B	0.09%
IBOC	D	0.09%
AGM	D	0.09%
TENB	D	0.08%
HI	F	0.08%
ASO	D	0.08%
AMPH	C	0.08%
LZ	D	0.08%
FLR	B	0.08%
GMS	B	0.08%
CRDO	B	0.08%
LXP	D	0.08%
WNC	F	0.08%
CARS	F	0.08%
BCO	C	0.08%
FLNC	C	0.08%
PD	F	0.08%
LGND	C	0.08%
PBH	D	0.08%
ILPT	D	0.08%
ATEN	B	0.08%
CSWI	A	0.08%
DVAX	F	0.08%
ASB	D	0.08%
PHIN	D	0.08%
BOX	C	0.08%
SCS	D	0.08%
KN	B	0.08%
CUBI	F	0.08%
VC	F	0.08%
VERA	C	0.08%
MDGL	F	0.08%
TGNA	B	0.08%
WOR	F	0.08%
MRC	D	0.08%
ALV	F	0.08%
ADEA	B	0.07%
CEIX	B	0.07%
OXM	F	0.07%
TNC	F	0.07%
SNEX	B	0.07%
BLMN	F	0.07%
OTTR	F	0.07%
GCO	D	0.07%
UVV	D	0.07%
EIG	A	0.07%
ANAB	D	0.07%
WLY	A	0.07%
SANA	F	0.07%
SM	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%
DLX	F	0.07%
RIG	F	0.07%
CXW	F	0.07%
AIV	D	0.07%
VIR	F	0.07%
KNF	B	0.07%
CNMD	F	0.07%
SFL	D	0.07%
NTB	D	0.07%
MED	F	0.07%
CVLT	B	0.07%
UNIT	B	0.07%
IDCC	A	0.07%
POR	D	0.07%
HEES	D	0.07%
GPMT	D	0.06%
TRN	C	0.06%
MERC	D	0.06%
FN	B	0.06%
YELP	D	0.06%
CENTA	F	0.06%
AGX	A	0.06%
HCC	C	0.06%
NXT	F	0.06%
OMI	F	0.06%
AMLX	D	0.06%
AMN	F	0.06%
GEO	D	0.06%
HWKN	B	0.06%
AEO	C	0.06%
NBR	D	0.06%
LADR	D	0.06%
DOMO	F	0.06%
AMRX	B	0.06%
ADMA	A	0.06%
NARI	F	0.06%
AMPL	D	0.06%
EPAC	A	0.06%
AVDX	F	0.05%
ITGR	B	0.05%
PFSI	C	0.05%
RCUS	D	0.05%
ITRI	C	0.05%
BKD	F	0.05%
ASAN	F	0.05%
BCPC	C	0.05%
AVAV	B	0.05%
BEAM	F	0.05%
AMBC	F	0.05%
CTBI	B	0.05%
CERS	F	0.05%
NHI	C	0.05%
CNX	A	0.05%
WTTR	B	0.05%
FOLD	F	0.05%
LPG	F	0.05%
ZIP	D	0.05%
MCY	B	0.05%
KOS	F	0.05%
SMTC	C	0.05%
MMS	C	0.05%
EYPT	F	0.05%
WGO	D	0.05%
RUSHA	D	0.05%
FUN	F	0.05%
IBP	C	0.05%
THR	F	0.05%
PZZA	D	0.05%
IRTC	F	0.05%
MDXG	F	0.04%
OI	D	0.04%
SPRY	C	0.04%
ACCD	F	0.04%
SLAB	D	0.04%
OPI	F	0.04%
DIN	D	0.04%
TARS	C	0.04%
TILE	C	0.04%
TDS	C	0.04%
CGEM	F	0.04%
SAH	D	0.04%
ARRY	F	0.04%
CFFN	D	0.04%
DAWN	D	0.04%
AGYS	D	0.04%
OUT	C	0.04%
IVR	C	0.04%
RDFN	C	0.04%
AGS	A	0.04%
HSTM	B	0.04%
HELE	D	0.04%
NATL	D	0.04%
SNBR	C	0.04%
EVH	D	0.04%
SVC	D	0.04%
AVXL	D	0.04%
VITL	C	0.04%
NRC	F	0.04%
FFIN	D	0.04%
HLF	F	0.04%
KREF	C	0.04%
KLG	F	0.04%
ENS	B	0.04%
IOSP	F	0.04%
CVI	D	0.04%
SONO	F	0.04%
GIII	C	0.03%
WD	C	0.03%
QRTEA	D	0.03%
RYI	D	0.03%
MOG.A	C	0.03%
ARCB	F	0.03%
TSE	C	0.03%
ALRM	F	0.03%
DAN	D	0.03%
VNDA	F	0.03%
TCBI	B	0.03%
OFIX	D	0.03%
ATRC	C	0.03%
NX	F	0.03%
MGNI	D	0.03%
ARCH	D	0.03%
SNDX	F	0.03%
OPEN	F	0.03%
EVTC	D	0.03%
LTH	B	0.03%
RGNX	F	0.03%
EMBC	F	0.03%
REVG	D	0.03%
SGH	D	0.03%
TWO	D	0.03%
JELD	D	0.03%
SWIM	B	0.03%
PDCO	F	0.03%
BRSP	D	0.03%
UDMY	F	0.03%
CHWY	C	0.03%
TLRY	F	0.03%
TPB	C	0.03%
DBI	F	0.03%
XHR	A	0.03%
HNI	B	0.03%
FLYW	F	0.03%
IDT	C	0.03%
BBIO	F	0.03%
QXO	F	0.03%
CORZ	C	0.03%
RPD	D	0.03%
FL	F	0.03%
RVMD	B	0.03%
CNS	C	0.03%
CALX	C	0.03%
CDP	A	0.03%
UVE	C	0.03%
ARWR	F	0.03%
PRO	F	0.02%
ERAS	D	0.02%
OSUR	F	0.02%
NTLA	F	0.02%
OSIS	C	0.02%
SHO	B	0.02%
RAMP	F	0.02%
KVYO	B	0.02%
KRNY	C	0.02%
BMBL	F	0.02%
SLVM	C	0.02%
WOOF	B	0.02%
HMST	B	0.02%
OLPX	C	0.02%
KFY	C	0.02%
HAIN	C	0.02%
BRY	F	0.02%
MTW	F	0.02%
EDR	A	0.02%
LMAT	A	0.02%
GPRO	F	0.02%
DYN	D	0.02%
EVRI	A	0.02%
ARCT	D	0.02%
NUS	F	0.02%
IRWD	F	0.02%
RLJ	D	0.02%
DOCN	B	0.02%
PTCT	C	0.02%
FSS	D	0.02%
AKRO	D	0.02%
CNDT	B	0.02%
TGTX	D	0.02%
DY	C	0.02%
PBF	F	0.02%
JANX	C	0.02%
SUPN	D	0.02%
CRSP	F	0.02%
LANC	F	0.02%
ALHC	C	0.02%
VCEL	F	0.02%
VIAV	C	0.02%
SAFE	C	0.02%
IESC	A	0.02%
USNA	F	0.02%
AMCX	F	0.02%
CWK	D	0.01%
SFIX	F	0.01%
RBRK	D	0.01%
JOBY	C	0.01%
ZUO	F	0.01%
MITK	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%
CRAI	B	0.01%
PCH	C	0.01%
EPC	F	0.01%
PEB	D	0.01%
POWI	F	0.01%
FLWS	F	0.01%
OIS	D	0.01%
ENVA	B	0.01%
JAMF	F	0.01%
HQY	B	0.01%
CAKE	A	0.01%
UTL	D	0.01%
UPWK	D	0.01%
WTI	C	0.01%
BKH	C	0.01%
MBC	C	0.01%
VRE	C	0.01%
NWN	D	0.01%
TR	D	0.01%
NGVT	D	0.01%
HTZ	F	0.01%
BSIG	D	0.01%
SWX	C	0.01%
HCAT	C	0.01%
SWTX	F	0.01%
ENR	B	0.01%
STGW	B	0.01%
MLAB	B	0.01%
GEF	B	0.01%
UNFI	C	0.01%
XPRO	F	0.01%
NFBK	D	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%
SSB	C	0.01%
HYFM	D	0.0%
CHCO	D	0.0%
BFH	D	0.0%
MC	B	0.0%
EGBN	C	0.0%
GDOT	C	0.0%
NBTB	D	0.0%
HPP	F	0.0%
CVBF	B	0.0%
RDN	D	0.0%
FULT	D	0.0%
BOH	D	0.0%
JXN	A	0.0%
TRMK	D	0.0%
DEI	A	0.0%
GNW	A	0.0%
PFBC	D	0.0%
BDN	B	0.0%
CASH	C	0.0%
TBBK	A	0.0%
AX	D	0.0%
PRDO	D	0.0%
BKU	D	0.0%

SMLF Underweight 506 Positions Relative to IWR

Symbol	Grade	Weight
PLTR	A	-0.63%
AFL	A	-0.54%
AJG	C	-0.53%
DHI	C	-0.49%
WMB	A	-0.48%
HLT	A	-0.48%
SPG	A	-0.47%
O	C	-0.47%
URI	C	-0.46%
OKE	A	-0.46%
BK	A	-0.45%
DLR	C	-0.44%
CCI	D	-0.44%
ALL	A	-0.43%
ROST	D	-0.42%
AMP	A	-0.41%
TTD	A	-0.41%
LHX	A	-0.4%
FIS	A	-0.4%
PEG	A	-0.39%
GWW	B	-0.39%
PAYX	B	-0.39%
FICO	C	-0.39%
MSCI	B	-0.38%
CMI	A	-0.38%
LEN	C	-0.38%
PRU	B	-0.37%
A	B	-0.37%
PWR	A	-0.37%
KVUE	C	-0.37%
KMI	A	-0.37%
LNG	A	-0.36%
GIS	C	-0.36%
IQV	F	-0.36%
MPWR	B	-0.36%
OTIS	A	-0.36%
VST	A	-0.36%
PCG	C	-0.36%
GEHC	C	-0.35%
CTVA	A	-0.35%
FAST	C	-0.35%
EXC	C	-0.35%
IDXX	D	-0.35%
HWM	A	-0.35%
RCL	B	-0.35%
MCHP	F	-0.35%
ACGL	A	-0.35%
YUM	C	-0.34%
IR	A	-0.34%
FERG	F	-0.34%
EA	D	-0.33%
ODFL	F	-0.33%
VRSK	D	-0.33%
DOW	B	-0.33%
SYY	D	-0.33%
HES	D	-0.33%
CNC	F	-0.33%
AME	C	-0.33%
COR	F	-0.32%
EXR	D	-0.32%
KR	C	-0.32%
IT	A	-0.32%
CBRE	C	-0.32%
CTSH	B	-0.32%
XEL	C	-0.31%
ED	C	-0.31%
NUE	D	-0.31%
SQ	D	-0.31%
BKR	B	-0.31%
DD	C	-0.31%
RMD	C	-0.3%
ALNY	C	-0.3%
VRT	B	-0.3%
EFX	D	-0.3%
EIX	C	-0.29%
FANG	D	-0.29%
HUM	F	-0.29%
HPQ	B	-0.29%
DDOG	B	-0.29%
DFS	A	-0.29%
GLW	C	-0.29%
VICI	C	-0.29%
IRM	B	-0.29%
HIG	A	-0.29%
DAL	C	-0.28%
XYL	C	-0.28%
COIN	F	-0.28%
VMC	D	-0.28%
MLM	F	-0.28%
TRGP	A	-0.28%
EBAY	A	-0.28%
MTD	C	-0.27%
AVB	C	-0.27%
WAB	A	-0.27%
TSCO	A	-0.27%
PHM	C	-0.26%
NDAQ	C	-0.26%
CSGP	F	-0.26%
ROK	D	-0.26%
ON	F	-0.26%
PPG	D	-0.26%
WEC	B	-0.26%
VEEV	C	-0.26%
WTW	C	-0.26%
CHTR	D	-0.26%
MTB	A	-0.25%
CDW	D	-0.25%
BIIB	F	-0.24%
HSY	D	-0.24%
EQR	C	-0.24%
CPNG	C	-0.24%
ETR	A	-0.24%
ADM	F	-0.24%
AWK	D	-0.24%
NVR	C	-0.24%
FITB	C	-0.24%
ARES	A	-0.24%
IFF	D	-0.23%
HAL	D	-0.23%
DXCM	F	-0.23%
DTE	B	-0.23%
GRMN	D	-0.23%
CAH	B	-0.23%
KEYS	B	-0.23%
VLTO	A	-0.23%
FTV	C	-0.23%
ANSS	D	-0.23%
SW	C	-0.22%
CHD	D	-0.22%
GPN	F	-0.22%
FE	C	-0.22%
FSLR	C	-0.22%
HUBS	D	-0.22%
VTR	C	-0.22%
HPE	B	-0.22%
TTWO	D	-0.22%
SBAC	C	-0.22%
DOV	C	-0.22%
STT	A	-0.22%
TYL	D	-0.21%
PPL	C	-0.21%
WY	C	-0.21%
LYB	B	-0.21%
NTAP	D	-0.21%
DVN	F	-0.21%
BRO	A	-0.21%
BR	B	-0.21%
HUBB	A	-0.2%
STE	D	-0.2%
RJF	B	-0.2%
AEE	A	-0.2%
BLDR	C	-0.2%
NET	D	-0.2%
TROW	D	-0.2%
ES	D	-0.2%
GDDY	B	-0.19%
WST	D	-0.19%
WDC	C	-0.19%
BBY	C	-0.19%
ZBH	F	-0.19%
CBOE	B	-0.19%
LDOS	A	-0.19%
RBLX	D	-0.19%
CLX	C	-0.18%
ILMN	B	-0.18%
HBAN	B	-0.18%
RF	B	-0.18%
BALL	C	-0.18%
PTC	B	-0.18%
ATO	A	-0.18%
BAH	C	-0.18%
CINF	A	-0.18%
WAT	B	-0.18%
K	B	-0.18%
CMS	A	-0.18%
COO	C	-0.18%
MKC	C	-0.18%
INVH	D	-0.18%
EQT	C	-0.18%
CPAY	A	-0.18%
SYF	A	-0.17%
GPC	D	-0.17%
DRI	C	-0.17%
PFG	A	-0.17%
PINS	D	-0.17%
WBD	F	-0.17%
MOH	F	-0.17%
OMC	C	-0.17%
TRU	C	-0.17%
TER	C	-0.17%
SMCI	F	-0.17%
MKL	B	-0.17%
ARE	D	-0.17%
TDY	A	-0.17%
ULTA	D	-0.16%
EXPD	D	-0.16%
MDB	D	-0.16%
LVS	B	-0.16%
MAA	D	-0.16%
UAL	A	-0.16%
ALGN	D	-0.16%
HOLX	D	-0.16%
LH	D	-0.16%
MAS	C	-0.16%
EXPE	B	-0.16%
DG	F	-0.16%
ZBRA	B	-0.16%
ESS	D	-0.16%
BAX	D	-0.16%
CNP	B	-0.16%
PKG	B	-0.16%
LII	C	-0.16%
STLD	C	-0.16%
APTV	D	-0.16%
NRG	A	-0.16%
DGX	D	-0.15%
LPLA	D	-0.15%
IP	C	-0.15%
EG	A	-0.15%
TPL	A	-0.15%
AVTR	D	-0.15%
FDS	C	-0.15%
DKNG	C	-0.15%
LYV	A	-0.15%
AVY	D	-0.15%
NTRS	B	-0.15%
LUV	B	-0.15%
CTRA	D	-0.15%
CFG	C	-0.15%
CCL	C	-0.15%
ZM	B	-0.15%
VRSN	C	-0.14%
SSNC	C	-0.14%
CF	A	-0.14%
DOC	C	-0.14%
PNR	C	-0.14%
IEX	D	-0.14%
AMCR	C	-0.14%
TXT	F	-0.14%
PODD	C	-0.14%
J	F	-0.14%
SUI	D	-0.14%
BURL	C	-0.14%
HEI	C	-0.14%
SWK	C	-0.14%
TSN	D	-0.14%
WRB	C	-0.14%
ENPH	F	-0.13%
GEN	A	-0.13%
UDR	C	-0.13%
CE	D	-0.13%
HOOD	B	-0.13%
TRMB	B	-0.13%
SNA	C	-0.13%
DPZ	D	-0.13%
KEY	B	-0.13%
AKAM	D	-0.13%
ZS	F	-0.13%
RVTY	C	-0.13%
SWKS	F	-0.13%
DT	B	-0.13%
FNF	C	-0.13%
MRO	B	-0.13%
CAG	D	-0.13%
NI	A	-0.13%
LNT	B	-0.13%
FWONK	D	-0.13%
VTRS	D	-0.12%
BG	F	-0.12%
EVRG	C	-0.12%
JBHT	D	-0.12%
POOL	D	-0.12%
ROL	C	-0.12%
L	C	-0.12%
DLTR	F	-0.12%
RGA	B	-0.12%
AES	C	-0.12%
TW	A	-0.12%
KMX	F	-0.11%
EXAS	C	-0.11%
SJM	D	-0.11%
BXP	B	-0.11%
DOCU	A	-0.11%
JLL	C	-0.11%
CPT	C	-0.11%
JNPR	C	-0.11%
FND	C	-0.11%
CHRW	C	-0.11%
FFIV	B	-0.11%
EMN	C	-0.11%
ELS	D	-0.11%
UHS	D	-0.11%
EQH	B	-0.11%
JKHY	A	-0.11%
BMRN	F	-0.11%
REG	C	-0.11%
WPC	C	-0.11%
RPRX	D	-0.1%
CCK	C	-0.1%
NBIX	F	-0.1%
TFX	C	-0.1%
HEI	C	-0.1%
OKTA	F	-0.1%
IPG	D	-0.1%
COHR	B	-0.1%
FTI	B	-0.1%
PFGC	A	-0.1%
TECH	D	-0.1%
HST	D	-0.1%
CRL	F	-0.09%
ARMK	C	-0.09%
TAP	D	-0.09%
DOX	B	-0.09%
NWSA	D	-0.09%
WWD	C	-0.09%
Z	C	-0.09%
PNW	C	-0.09%
HII	F	-0.09%
LKQ	F	-0.09%
ATR	A	-0.09%
REXR	D	-0.09%
AOS	C	-0.09%
INCY	B	-0.09%
EPAM	F	-0.09%
TWLO	B	-0.09%
CTLT	A	-0.09%
FBIN	C	-0.09%
ALB	D	-0.09%
SNX	C	-0.08%
CZR	B	-0.08%
SKX	B	-0.08%
INGR	B	-0.08%
MGM	D	-0.08%
DAY	C	-0.08%
HRL	F	-0.08%
MUSA	D	-0.08%
GL	C	-0.08%
HSIC	D	-0.08%
CPB	D	-0.08%
LW	D	-0.08%
FRT	D	-0.08%
CG	B	-0.08%
QRVO	F	-0.08%
EXP	C	-0.08%
MKTX	B	-0.08%
ALLY	F	-0.08%
TKO	A	-0.08%
MTCH	B	-0.08%
WTRG	D	-0.08%
AFG	A	-0.08%
FOXA	B	-0.08%
CNH	C	-0.08%
OWL	A	-0.08%
NLY	C	-0.08%
MTZ	A	-0.07%
COLD	D	-0.07%
BFAM	C	-0.07%
BWA	C	-0.07%
FMC	C	-0.07%
KNX	D	-0.07%
DVA	C	-0.07%
GLOB	D	-0.07%
MHK	C	-0.07%
PAYC	D	-0.07%
MORN	B	-0.07%
NCLH	C	-0.07%
RIVN	F	-0.07%
RBC	C	-0.07%
LAD	C	-0.07%
MOS	F	-0.07%
LBRDK	C	-0.07%
U	D	-0.06%
H	B	-0.06%
BIO	B	-0.06%
JAZZ	F	-0.06%
FLS	A	-0.06%
HR	D	-0.06%
GNTX	D	-0.06%
CGNX	F	-0.06%
G	A	-0.06%
SEIC	B	-0.06%
CART	B	-0.06%
AAL	D	-0.06%
KEX	C	-0.06%
SAIC	A	-0.06%
UHAL	C	-0.06%
AAON	A	-0.06%
ADC	C	-0.06%
ST	F	-0.05%
COLB	C	-0.05%
VVV	D	-0.05%
THG	A	-0.05%
FOUR	A	-0.05%
SIRI	C	-0.05%
RITM	D	-0.05%
BEN	F	-0.05%
SRCL	B	-0.05%
ALK	C	-0.05%
WHR	C	-0.05%
POST	C	-0.05%
DAR	F	-0.05%
OLLI	C	-0.05%
AWI	A	-0.05%
GXO	D	-0.05%
MTDR	D	-0.05%
CLF	D	-0.05%
DBX	C	-0.05%
LEA	F	-0.05%
PB	D	-0.05%
FRPT	A	-0.05%
OSK	F	-0.05%
LITE	A	-0.04%
LOPE	D	-0.04%
SLGN	B	-0.04%
DLB	D	-0.04%
AL	D	-0.04%
CFLT	F	-0.04%
VNOM	A	-0.04%
LINE	F	-0.04%
CPRI	C	-0.04%
HCP	A	-0.04%
PSN	A	-0.04%
OGN	F	-0.04%
AVT	B	-0.04%
FNB	D	-0.04%
LNC	B	-0.04%
FIVE	D	-0.04%
CCCS	D	-0.04%
RH	C	-0.04%
WLK	C	-0.04%
RARE	D	-0.04%
FOX	B	-0.04%
CIVI	F	-0.04%
LCID	F	-0.03%
ZG	C	-0.03%
WU	D	-0.03%
PAG	D	-0.03%
AMED	D	-0.03%
ZI	F	-0.03%
NWS	D	-0.03%
AMTM	D	-0.03%
NSA	D	-0.03%
AMKR	F	-0.03%
BROS	F	-0.03%
DXC	C	-0.03%
GTES	C	-0.03%
CHH	A	-0.03%
IRDM	C	-0.03%
NEU	F	-0.03%
KMPR	D	-0.03%
GFS	F	-0.03%
SPR	D	-0.03%
IAC	C	-0.03%
MSGS	A	-0.03%
LEG	D	-0.02%
BIRK	F	-0.02%
QS	F	-0.02%
LEN	C	-0.02%
IPGP	D	-0.02%
PINC	F	-0.02%
PPC	C	-0.02%
HAYW	C	-0.02%
JWN	D	-0.02%
RCM	B	-0.02%
AAP	F	-0.02%
TXG	F	-0.02%
ENOV	F	-0.02%
BOKF	B	-0.02%
MP	C	-0.02%
CRI	D	-0.02%
LLYVK	B	-0.02%
HHH	C	-0.02%
CNXC	F	-0.02%
DV	F	-0.02%
SHC	C	-0.02%
AZTA	F	-0.02%
AGR	C	-0.02%
NCNO	F	-0.02%
SAM	D	-0.02%
BHF	D	-0.02%
PENN	D	-0.02%
COLM	B	-0.02%
UHAL	C	-0.01%
TFSL	D	-0.01%
NFE	F	-0.01%
LOAR	B	-0.01%
UWMC	D	-0.01%
SEB	F	-0.01%
UI	B	-0.01%
DJT	F	-0.01%
AS	B	-0.01%
LLYVA	B	-0.01%
CNA	D	-0.01%
WOLF	F	-0.01%
SNDR	D	-0.01%
CERT	F	-0.01%
TRIP	D	-0.01%
INFA	D	-0.01%
FWONA	C	-0.01%
FTRE	F	-0.01%
UAA	B	-0.01%
REYN	D	-0.01%
SEG	F	-0.0%
PARAA	D	-0.0%
GRAL	F	-0.0%
PLTK	C	-0.0%