SMLF vs. IYJ ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to iShares U.S. Industrials ETF (IYJ)

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

$73.06

Average Daily Volume

71,849

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

IYJ

iShares U.S. Industrials ETF

IYJ Description

The investment seeks to track the investment results of an index composed of U.S. equities in the industrials sector. The fund generally invests at least 90% of its assets in securities of the index and in depositary receipts representing securities of the index. It seeks to track the investment results of the Dow Jones U.S. Industrials Index (the "underlying index"), which measures the performance of the industrials sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$142.39

Average Daily Volume

39,529

Number of Holdings ^*

190

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	IYJ
30 Days	10.53%	5.33%
60 Days	10.49%	7.25%
90 Days	11.95%	11.61%
12 Months	40.74%	36.00%

65 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in IYJ	Overlap
ACM	A	0.19%	0.21%	0.19%
ADT	C	0.03%	0.03%	0.03%
AFRM	B	0.07%	0.19%	0.07%
AGCO	D	0.2%	0.08%	0.08%
ALLE	D	0.16%	0.18%	0.16%
ALSN	B	0.56%	0.15%	0.15%
APG	B	0.09%	0.12%	0.09%
ATI	D	0.14%	0.1%	0.1%
AXON	A	0.66%	0.62%	0.62%
AXTA	A	0.03%	0.13%	0.03%
AYI	B	0.35%	0.14%	0.14%
AZEK	A	0.06%	0.09%	0.06%
BC	C	0.09%	0.08%	0.08%
BERY	B	0.1%	0.11%	0.1%
BILL	A	0.04%	0.12%	0.04%
BLD	D	0.21%	0.16%	0.16%
BWXT	B	0.13%	0.17%	0.13%
CNM	D	0.36%	0.12%	0.12%
CR	A	0.35%	0.12%	0.12%
CSL	C	0.41%	0.29%	0.29%
CW	B	0.23%	0.2%	0.2%
CXT	B	0.09%	0.04%	0.04%
DCI	B	0.18%	0.13%	0.13%
EEFT	B	0.09%	0.06%	0.06%
EME	C	0.94%	0.33%	0.33%
ESAB	B	0.18%	0.1%	0.1%
FCN	D	0.04%	0.1%	0.04%
FIX	A	0.44%	0.22%	0.22%
GGG	B	0.3%	0.22%	0.22%
GNRC	B	0.15%	0.15%	0.15%
GPK	C	0.26%	0.12%	0.12%
ITT	A	0.31%	0.18%	0.18%
LECO	B	0.05%	0.16%	0.05%
LFUS	F	0.05%	0.09%	0.05%
LPX	B	0.41%	0.1%	0.1%
LSTR	D	0.1%	0.09%	0.09%
MAN	D	0.04%	0.04%	0.04%
MIDD	C	0.08%	0.1%	0.08%
MKSI	C	0.08%	0.1%	0.08%
MSA	D	0.02%	0.09%	0.02%
MSM	C	0.02%	0.05%	0.02%
NDSN	B	0.18%	0.21%	0.18%
NVT	B	0.49%	0.17%	0.17%
OC	A	0.18%	0.24%	0.18%
PCTY	B	0.14%	0.12%	0.12%
R	B	0.28%	0.1%	0.1%
RHI	B	0.17%	0.11%	0.11%
RPM	A	0.22%	0.25%	0.22%
RRX	B	0.2%	0.16%	0.16%
SAIA	B	0.12%	0.2%	0.12%
SEE	C	0.0%	0.07%	0.0%
SON	D	0.09%	0.07%	0.07%
SSD	D	0.14%	0.11%	0.11%
TREX	C	0.24%	0.11%	0.11%
TTC	D	0.14%	0.12%	0.12%
TTEK	F	0.29%	0.16%	0.16%
VMI	B	0.15%	0.1%	0.1%
VNT	B	0.05%	0.08%	0.05%
VSTS	C	0.02%	0.03%	0.02%
WCC	B	0.2%	0.13%	0.13%
WEX	D	0.09%	0.11%	0.09%
WMS	D	0.1%	0.13%	0.1%
WSC	D	0.09%	0.09%	0.09%
WSO	A	0.31%	0.26%	0.26%
XPO	B	0.17%	0.24%	0.17%

SMLF Overweight 745 Positions Relative to IYJ

Symbol	Grade	Weight
APP	B	1.49%
EVR	B	0.81%
MSTR	C	0.73%
DECK	A	0.72%
SFM	A	0.6%
NTNX	A	0.56%
JBL	B	0.55%
BPOP	B	0.53%
MANH	D	0.5%
SLG	B	0.49%
MLI	C	0.49%
RS	B	0.49%
CVNA	B	0.46%
IDA	A	0.46%
IBKR	A	0.45%
DUOL	A	0.44%
COCO	B	0.43%
WSM	B	0.42%
PCOR	B	0.42%
COOP	B	0.41%
IOT	A	0.41%
VNO	B	0.41%
ORI	A	0.41%
JEF	A	0.4%
HRB	D	0.4%
NTRA	B	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
EWBC	A	0.39%
POWL	C	0.38%
UTHR	C	0.38%
DKS	C	0.38%
MEDP	D	0.38%
BRX	A	0.37%
AM	A	0.37%
WING	D	0.36%
WFRD	D	0.35%
PIPR	B	0.34%
CAVA	B	0.34%
WK	B	0.34%
LAMR	D	0.33%
JHG	A	0.31%
HSII	B	0.31%
FLEX	A	0.31%
FR	C	0.31%
SOLV	C	0.31%
MAC	B	0.31%
DDS	B	0.31%
THC	D	0.31%
TPR	B	0.3%
ALKS	B	0.3%
SPXC	A	0.3%
CORT	B	0.3%
ANF	C	0.3%
CHE	D	0.3%
EXE	B	0.29%
STRL	B	0.29%
PSTG	D	0.29%
PRI	A	0.28%
AGO	B	0.27%
INTA	A	0.27%
SN	D	0.27%
FCNCA	A	0.27%
SMAR	A	0.26%
ESTC	C	0.26%
SIG	B	0.26%
AMH	D	0.25%
OVV	B	0.25%
MOD	A	0.25%
HURN	B	0.25%
CFR	B	0.25%
TPX	B	0.24%
CPRX	C	0.24%
CBSH	A	0.24%
RMBS	C	0.24%
AN	C	0.24%
SKT	B	0.24%
HALO	F	0.24%
EXEL	B	0.24%
IMKTA	C	0.24%
ZION	B	0.24%
ENTG	D	0.23%
GAP	C	0.23%
LSCC	D	0.23%
AMG	B	0.23%
YOU	D	0.23%
UFPI	B	0.23%
EXLS	B	0.23%
BCC	B	0.22%
SANM	B	0.22%
GPI	A	0.22%
APA	D	0.22%
WS	B	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%
AZPN	A	0.21%
SRPT	D	0.2%
ETSY	D	0.2%
LIVN	F	0.2%
RDDT	B	0.2%
XRAY	F	0.2%
ELF	C	0.2%
ATKR	C	0.2%
DTM	B	0.2%
DNLI	D	0.2%
BBWI	D	0.2%
HAE	C	0.2%
TPG	A	0.2%
LUMN	C	0.2%
TEX	D	0.19%
M	D	0.19%
RNG	B	0.19%
SMG	D	0.19%
JOE	F	0.19%
CROX	D	0.19%
NAVI	C	0.19%
GH	B	0.19%
MUR	D	0.19%
HAS	D	0.19%
RRC	B	0.19%
HLI	B	0.18%
PRGS	A	0.18%
KNSL	B	0.18%
XRX	F	0.18%
ARW	D	0.18%
TDOC	C	0.18%
VCYT	B	0.18%
USFD	A	0.18%
HIW	D	0.18%
GLPI	C	0.18%
FROG	C	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%
LNW	D	0.17%
BRC	D	0.17%
LNTH	D	0.17%
PDM	D	0.17%
PRG	C	0.17%
KRG	B	0.17%
AIZ	A	0.17%
EXTR	B	0.17%
PRKS	C	0.17%
JBSS	D	0.17%
SF	B	0.17%
KIM	A	0.16%
IVT	B	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%
TOL	B	0.16%
GME	C	0.16%
TNL	A	0.16%
CNO	A	0.16%
AGNC	D	0.16%
FAF	A	0.16%
OMF	A	0.16%
PGRE	F	0.16%
KFRC	D	0.16%
GATX	A	0.15%
LBTYA	B	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
RL	B	0.15%
ONTO	D	0.15%
W	F	0.15%
FTAI	B	0.15%
DOCS	C	0.15%
SPB	C	0.15%
ABG	B	0.15%
CWEN	C	0.15%
SKY	A	0.15%
ESI	A	0.15%
AMR	C	0.14%
UMBF	B	0.14%
RGLD	C	0.14%
VSTO	A	0.14%
IGT	F	0.14%
BANF	B	0.14%
MMSI	B	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	D	0.14%
UA	C	0.14%
YEXT	A	0.14%
SCI	B	0.14%
AY	B	0.14%
SPT	C	0.14%
TPH	D	0.14%
BLKB	B	0.13%
VMEO	B	0.13%
BPMC	C	0.13%
THO	B	0.13%
IPAR	B	0.13%
NFG	A	0.13%
TNET	D	0.13%
ACCO	C	0.13%
OGS	A	0.13%
BRZE	C	0.13%
GOLF	B	0.13%
RYAN	B	0.13%
KAI	A	0.13%
BDN	C	0.13%
QLYS	C	0.13%
SFBS	B	0.13%
FYBR	D	0.13%
NUVL	D	0.13%
AA	B	0.13%
SR	A	0.12%
MAT	D	0.12%
INSP	D	0.12%
AROC	B	0.12%
AWR	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	C	0.12%
SATS	D	0.12%
ACLS	F	0.12%
NYT	C	0.12%
OGE	B	0.12%
GFF	A	0.12%
BKE	B	0.12%
WH	B	0.12%
KRC	C	0.12%
WEN	D	0.12%
NOV	C	0.12%
AIT	A	0.12%
CBT	C	0.12%
BSY	D	0.12%
WAFD	B	0.12%
WTS	B	0.12%
NTCT	C	0.11%
FHI	A	0.11%
CYTK	F	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
IBOC	A	0.11%
PARA	C	0.11%
SSTK	F	0.11%
PTEN	C	0.11%
OII	B	0.11%
DFIN	D	0.11%
LOVE	B	0.11%
CUBE	D	0.11%
MFA	D	0.11%
ACAD	D	0.11%
HTH	B	0.11%
CRUS	D	0.11%
CARG	C	0.11%
SPSC	C	0.11%
BAND	B	0.11%
ODP	F	0.11%
CHX	C	0.11%
APOG	B	0.11%
CXW	B	0.11%
MCB	B	0.11%
MDGL	B	0.11%
NSP	D	0.11%
BCRX	D	0.11%
KW	B	0.1%
MTRN	C	0.1%
ASB	B	0.1%
CHDN	B	0.1%
HP	B	0.1%
ACA	A	0.1%
DNOW	B	0.1%
BECN	B	0.1%
EXPI	C	0.1%
PNFP	B	0.1%
IVZ	B	0.1%
UGI	A	0.1%
CRDO	B	0.1%
VECO	F	0.1%
CRC	B	0.1%
NNN	D	0.1%
HUN	F	0.1%
ICFI	F	0.1%
HOV	D	0.1%
SYNA	C	0.1%
X	C	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
AGM	C	0.1%
WAL	B	0.1%
KLIC	B	0.1%
INSM	C	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
VSH	D	0.09%
MTSI	B	0.09%
PHIN	A	0.09%
JACK	D	0.09%
MRC	B	0.09%
MTN	C	0.09%
PCVX	D	0.09%
HEES	B	0.09%
ATEN	B	0.09%
PBH	A	0.09%
HI	C	0.09%
LGND	B	0.09%
CAR	C	0.09%
VERA	B	0.09%
LZ	D	0.09%
FLG	C	0.09%
IDCC	A	0.09%
PLNT	A	0.09%
EGP	F	0.09%
ALIT	C	0.09%
TGNA	B	0.09%
TMHC	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	D	0.09%
CUBI	C	0.09%
CRS	A	0.09%
EXPO	D	0.09%
VC	D	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	A	0.08%
OZK	B	0.08%
CAL	D	0.08%
ELAN	D	0.08%
SCS	C	0.08%
OSCR	D	0.08%
FHB	A	0.08%
PD	C	0.08%
YETI	C	0.08%
KN	B	0.08%
MASI	A	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	B	0.08%
BDC	B	0.08%
ALV	C	0.08%
CSWI	A	0.08%
CNMD	C	0.07%
UNIT	B	0.07%
CLH	B	0.07%
EQC	B	0.07%
DH	D	0.07%
HASI	D	0.07%
AMRX	C	0.07%
PEN	B	0.07%
EYPT	F	0.07%
WYNN	D	0.07%
MATV	D	0.07%
VAC	B	0.07%
RIG	D	0.07%
AMPH	D	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	C	0.07%
FLNC	C	0.07%
WLY	B	0.07%
NBR	C	0.07%
EPAC	B	0.07%
NTB	B	0.07%
GKOS	B	0.07%
DOMO	C	0.07%
GCO	B	0.07%
ASH	D	0.07%
KNF	A	0.07%
PLUS	F	0.07%
SM	B	0.07%
TXRH	C	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	D	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
COTY	F	0.06%
S	B	0.06%
FN	D	0.06%
TNC	D	0.06%
NXT	C	0.06%
ILPT	D	0.06%
HWKN	B	0.06%
AMCX	C	0.06%
HCC	B	0.06%
CNX	A	0.06%
TRN	C	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	A	0.06%
FLO	D	0.06%
RDN	C	0.06%
WTTR	B	0.06%
CASY	A	0.06%
IRTC	D	0.06%
RYN	D	0.06%
ADEA	D	0.06%
BCO	D	0.06%
SFL	D	0.06%
AIV	C	0.06%
ADMA	B	0.06%
APPF	B	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
KD	B	0.06%
MED	F	0.06%
FOLD	F	0.05%
AVAV	D	0.05%
ITGR	B	0.05%
SNV	B	0.05%
ACI	C	0.05%
FFIN	B	0.05%
CVBF	A	0.05%
SONO	C	0.05%
PZZA	D	0.05%
ITRI	B	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
TILE	B	0.05%
BEAM	D	0.05%
SITE	D	0.05%
CERS	C	0.05%
AEO	F	0.05%
BLMN	F	0.05%
AMBC	C	0.05%
PATH	C	0.05%
HOUS	D	0.05%
MERC	F	0.05%
KOS	F	0.05%
TARS	B	0.05%
SMTC	B	0.05%
ZIP	F	0.05%
THR	B	0.05%
WBS	A	0.05%
APLS	D	0.05%
ASAN	C	0.05%
WBA	F	0.05%
PK	B	0.05%
MDXG	B	0.05%
WGO	C	0.05%
CENTA	C	0.05%
ARWR	F	0.04%
HPP	F	0.04%
STAG	F	0.04%
MDU	D	0.04%
DAWN	F	0.04%
CORZ	A	0.04%
PFSI	D	0.04%
KREF	D	0.04%
OUT	A	0.04%
DIN	C	0.04%
PRGO	B	0.04%
LPG	F	0.04%
FLYW	C	0.04%
AGS	A	0.04%
IDT	B	0.04%
ENS	D	0.04%
SANA	F	0.04%
TPB	B	0.04%
SAH	A	0.04%
ANAB	F	0.04%
NATL	B	0.04%
HELE	C	0.04%
RVMD	C	0.04%
KLG	C	0.04%
CELH	F	0.04%
AGYS	A	0.04%
ARRY	C	0.04%
ROKU	D	0.04%
CFFN	B	0.04%
OMI	F	0.04%
HLF	C	0.04%
ANGI	D	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	B	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	C	0.03%
GMED	A	0.03%
ALHC	C	0.03%
VIAV	B	0.03%
ALRM	C	0.03%
RDFN	D	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	F	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	B	0.03%
XHR	B	0.03%
CIEN	B	0.03%
VIRT	B	0.03%
QDEL	F	0.03%
REVG	B	0.03%
SNBR	F	0.03%
RYI	C	0.03%
CHWY	B	0.03%
IESC	B	0.03%
UDMY	F	0.03%
ARCH	B	0.03%
SLAB	D	0.03%
BRSP	B	0.03%
CDP	C	0.03%
MGNI	A	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	B	0.03%
RPD	C	0.03%
SPRY	D	0.03%
ATRC	C	0.03%
CNS	B	0.03%
RLI	B	0.03%
RKT	F	0.03%
UVE	B	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	D	0.03%
BKD	D	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%
SLVM	B	0.02%
OSIS	B	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	C	0.02%
QRTEA	F	0.02%
GPRO	F	0.02%
SAFE	D	0.02%
KFY	B	0.02%
JELD	F	0.02%
EDR	A	0.02%
KRNY	B	0.02%
DAN	D	0.02%
DOCN	D	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	B	0.02%
NUS	D	0.02%
EPR	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%
LMAT	A	0.02%
CLVT	F	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	D	0.02%
CNDT	C	0.02%
OPEN	D	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	D	0.02%
CALX	D	0.02%
CWK	B	0.01%
ALGM	D	0.01%
VAL	D	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	D	0.01%
EPC	D	0.01%
SFIX	B	0.01%
POWI	D	0.01%
FLWS	F	0.01%
TDC	D	0.01%
XPRO	F	0.01%
MBC	D	0.01%
BIGC	C	0.01%
MLAB	D	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%
CRAI	B	0.01%
SWI	B	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	B	0.01%
TR	B	0.01%
ROIV	C	0.01%
TTGT	C	0.01%
SWX	B	0.01%
HCAT	D	0.01%
OIS	C	0.01%
RBRK	A	0.01%
NGVT	B	0.01%
HQY	B	0.01%
ENVA	B	0.01%
HMST	D	0.01%
AXS	A	0.01%
CAKE	C	0.01%
STGW	B	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	C	0.01%
ASGN	F	0.01%
HTZ	C	0.01%
MBLY	C	0.01%
OSUR	F	0.01%
HAIN	C	0.01%
SWTX	C	0.01%
KALU	C	0.01%
PII	D	0.01%
NEXA	C	0.01%
BYD	C	0.01%
UPWK	B	0.01%
HXL	D	0.01%
NFBK	B	0.01%
SHO	C	0.01%
AEIS	B	0.01%
MAGN	F	0.0%
BFH	B	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%
JXN	C	0.0%
BOH	B	0.0%
DEI	B	0.0%
TRMK	B	0.0%
GNW	A	0.0%
PFBC	B	0.0%
CASH	A	0.0%
UNM	A	0.0%
TBBK	B	0.0%
FBP	B	0.0%
PRDO	B	0.0%
BKU	A	0.0%
CMA	A	0.0%
AX	A	0.0%
OFG	B	0.0%

SMLF Underweight 125 Positions Relative to IYJ

Symbol	Grade	Weight
V	A	-7.02%
MA	C	-6.2%
ACN	C	-3.19%
GE	D	-2.77%
CAT	B	-2.7%
AXP	A	-2.32%
RTX	C	-2.27%
HON	B	-2.15%
UNP	C	-2.07%
ETN	A	-2.06%
ADP	B	-1.76%
FI	A	-1.74%
LMT	D	-1.64%
DE	A	-1.45%
UPS	C	-1.41%
BA	F	-1.39%
TT	A	-1.33%
PH	A	-1.29%
GEV	B	-1.29%
SHW	A	-1.28%
PYPL	B	-1.26%
ITW	B	-1.15%
GD	F	-1.13%
CTAS	B	-1.07%
EMR	A	-1.04%
MMM	D	-1.03%
COF	B	-1.01%
CSX	B	-0.99%
NOC	D	-0.98%
TDG	D	-0.98%
CRH	A	-0.97%
FDX	B	-0.96%
CARR	D	-0.9%
NSC	B	-0.85%
PCAR	B	-0.83%
JCI	C	-0.81%
URI	B	-0.8%
FICO	B	-0.77%
GWW	B	-0.74%
FIS	C	-0.71%
CMI	A	-0.71%
PWR	A	-0.68%
LHX	C	-0.67%
SQ	B	-0.67%
PAYX	C	-0.66%
HWM	A	-0.65%
AME	A	-0.64%
ODFL	B	-0.61%
IR	B	-0.59%
VRSK	A	-0.58%
OTIS	C	-0.58%
FERG	B	-0.58%
VMC	B	-0.53%
MLM	B	-0.51%
WAB	B	-0.49%
DD	D	-0.49%
ROK	B	-0.47%
DOW	F	-0.45%
EFX	F	-0.44%
XYL	D	-0.42%
GPN	B	-0.42%
PPG	F	-0.41%
DOV	A	-0.4%
FTV	C	-0.38%
SW	A	-0.38%
VLTO	D	-0.37%
SYF	B	-0.37%
KEYS	A	-0.37%
CPAY	A	-0.36%
MTD	D	-0.36%
HUBB	B	-0.34%
TDY	B	-0.31%
PKG	A	-0.3%
BLDR	D	-0.3%
BAH	F	-0.28%
LII	A	-0.28%
ZBRA	B	-0.28%
SNA	A	-0.27%
TRU	D	-0.27%
BALL	D	-0.27%
TRMB	B	-0.25%
IEX	B	-0.25%
MAS	D	-0.25%
J	F	-0.25%
PNR	A	-0.25%
EXPD	D	-0.24%
HEI	B	-0.24%
TXT	D	-0.23%
AMCR	D	-0.21%
JBHT	C	-0.21%
SWK	D	-0.19%
JKHY	D	-0.18%
CHRW	C	-0.18%
HEI	B	-0.17%
ATR	B	-0.16%
WWD	B	-0.15%
CCK	C	-0.15%
CNH	C	-0.14%
EXP	A	-0.14%
AAON	B	-0.13%
FBIN	D	-0.13%
MTZ	B	-0.12%
AOS	F	-0.12%
KNX	B	-0.12%
MHK	D	-0.11%
KEX	C	-0.11%
HII	D	-0.11%
FLS	B	-0.11%
G	B	-0.11%
AWI	A	-0.1%
CGNX	C	-0.1%
GXO	B	-0.1%
OSK	B	-0.1%
FOUR	B	-0.09%
ST	F	-0.07%
AL	B	-0.07%
GTES	A	-0.06%
SLGN	A	-0.06%
AMTM	D	-0.05%
SPR	D	-0.05%
ECG	C	-0.04%
WU	D	-0.04%
HAYW	B	-0.03%
SNDR	B	-0.02%
LOAR	A	-0.01%