SMLF vs. SPMD ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to SPDR Portfolio Mid Cap ETF (SPMD)

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

$73.10

Average Daily Volume

70,611

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

SPMD

SPDR Portfolio Mid Cap ETF

SPMD Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 1000 Index. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index measures the performance of the small- and mid-capitalization segments of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$58.49

Average Daily Volume

1,190,045

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	SPMD
30 Days	7.55%	4.78%
60 Days	8.72%	6.12%
90 Days	9.84%	6.47%
12 Months	38.08%	30.84%

265 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in SPMD	Overlap
AA	A	0.13%	0.35%	0.13%
ACHC	F	0.04%	0.12%	0.04%
ACM	B	0.19%	0.47%	0.19%
AGCO	D	0.2%	0.19%	0.19%
AIT	B	0.12%	0.34%	0.12%
ALGM	D	0.01%	0.1%	0.01%
ALV	C	0.08%	0.24%	0.08%
AM	A	0.37%	0.17%	0.17%
AMG	B	0.23%	0.18%	0.18%
AMH	C	0.25%	0.39%	0.25%
AN	C	0.24%	0.14%	0.14%
ANF	F	0.3%	0.24%	0.24%
APPF	B	0.06%	0.18%	0.06%
AR	B	0.21%	0.29%	0.21%
ARW	D	0.18%	0.2%	0.18%
ARWR	D	0.04%	0.09%	0.04%
ASB	B	0.1%	0.13%	0.1%
ASGN	F	0.01%	0.14%	0.01%
ASH	F	0.07%	0.13%	0.07%
AVNT	B	0.18%	0.15%	0.15%
AXTA	B	0.03%	0.29%	0.03%
AYI	B	0.35%	0.33%	0.33%
BC	C	0.09%	0.18%	0.09%
BCO	F	0.06%	0.14%	0.06%
BDC	C	0.08%	0.16%	0.08%
BERY	C	0.1%	0.25%	0.1%
BJ	A	0.16%	0.38%	0.16%
BKH	A	0.01%	0.14%	0.01%
BLD	D	0.21%	0.36%	0.21%
BLKB	B	0.13%	0.11%	0.11%
BRBR	A	0.06%	0.31%	0.06%
BRKR	D	0.14%	0.2%	0.14%
BRX	A	0.37%	0.28%	0.28%
BWXT	B	0.13%	0.39%	0.13%
BYD	B	0.01%	0.17%	0.01%
CACI	D	0.02%	0.36%	0.02%
CAR	C	0.09%	0.06%	0.06%
CASY	A	0.06%	0.5%	0.06%
CBSH	B	0.24%	0.28%	0.24%
CBT	D	0.12%	0.2%	0.12%
CC	C	0.06%	0.1%	0.06%
CDP	C	0.03%	0.11%	0.03%
CELH	F	0.04%	0.14%	0.04%
CFR	B	0.25%	0.29%	0.25%
CHDN	B	0.1%	0.34%	0.1%
CHE	D	0.3%	0.28%	0.28%
CHRD	D	0.03%	0.27%	0.03%
CHWY	B	0.03%	0.15%	0.03%
CHX	C	0.11%	0.19%	0.11%
CIEN	C	0.03%	0.33%	0.03%
CLH	C	0.07%	0.42%	0.07%
CMC	B	0.14%	0.23%	0.14%
CNM	D	0.36%	0.27%	0.27%
CNO	B	0.16%	0.14%	0.14%
CNX	A	0.06%	0.19%	0.06%
COKE	C	0.22%	0.24%	0.22%
COTY	F	0.06%	0.09%	0.06%
CR	A	0.35%	0.28%	0.28%
CROX	D	0.19%	0.2%	0.19%
CRUS	D	0.11%	0.18%	0.11%
CSL	C	0.41%	0.69%	0.41%
CUBE	C	0.11%	0.36%	0.11%
CUZ	B	0.08%	0.15%	0.08%
CVLT	B	0.08%	0.25%	0.08%
CW	C	0.23%	0.46%	0.23%
CXT	C	0.09%	0.09%	0.09%
CYTK	F	0.11%	0.21%	0.11%
DCI	B	0.18%	0.31%	0.18%
DINO	D	0.01%	0.23%	0.01%
DKS	D	0.38%	0.38%	0.38%
DOCS	C	0.15%	0.21%	0.15%
DTM	A	0.2%	0.32%	0.2%
DUOL	A	0.44%	0.4%	0.4%
EEFT	B	0.09%	0.14%	0.09%
EGP	D	0.09%	0.27%	0.09%
EHC	B	0.05%	0.34%	0.05%
ELF	C	0.2%	0.23%	0.2%
EME	A	0.94%	0.77%	0.77%
ENS	F	0.04%	0.13%	0.04%
ENSG	C	0.14%	0.27%	0.14%
EPR	C	0.02%	0.11%	0.02%
ESAB	C	0.18%	0.24%	0.18%
EVR	B	0.81%	0.35%	0.35%
EWBC	A	0.39%	0.47%	0.39%
EXEL	B	0.24%	0.33%	0.24%
EXLS	B	0.23%	0.24%	0.23%
EXPO	D	0.09%	0.17%	0.09%
FAF	A	0.16%	0.22%	0.16%
FCN	F	0.04%	0.23%	0.04%
FFIN	B	0.05%	0.18%	0.05%
FHI	B	0.11%	0.11%	0.11%
FHN	A	0.04%	0.36%	0.04%
FIX	A	0.44%	0.52%	0.44%
FLO	D	0.06%	0.14%	0.06%
FLR	B	0.08%	0.29%	0.08%
FN	C	0.06%	0.3%	0.06%
FR	D	0.31%	0.23%	0.23%
FYBR	C	0.13%	0.25%	0.13%
GAP	C	0.23%	0.16%	0.16%
GATX	A	0.15%	0.18%	0.15%
GEF	A	0.01%	0.06%	0.01%
GGG	B	0.3%	0.5%	0.3%
GLPI	C	0.18%	0.44%	0.18%
GME	C	0.16%	0.35%	0.16%
GMED	A	0.03%	0.3%	0.03%
GPK	C	0.26%	0.28%	0.26%
HAE	C	0.2%	0.15%	0.15%
HALO	F	0.24%	0.23%	0.23%
HLI	A	0.18%	0.32%	0.18%
HOG	D	0.15%	0.13%	0.13%
HQY	A	0.01%	0.27%	0.01%
HRB	D	0.4%	0.27%	0.27%
HWC	B	0.08%	0.17%	0.08%
HXL	F	0.01%	0.16%	0.01%
IBKR	A	0.45%	0.64%	0.45%
IBOC	B	0.11%	0.13%	0.11%
IDA	A	0.46%	0.21%	0.21%
ITT	A	0.31%	0.41%	0.31%
JEF	A	0.4%	0.39%	0.39%
JHG	B	0.31%	0.19%	0.19%
KBR	F	0.12%	0.26%	0.12%
KD	B	0.06%	0.22%	0.06%
KNF	B	0.07%	0.18%	0.07%
KNSL	B	0.18%	0.35%	0.18%
KRC	B	0.12%	0.14%	0.12%
KRG	B	0.17%	0.19%	0.17%
LAMR	C	0.33%	0.37%	0.33%
LANC	C	0.02%	0.12%	0.02%
LECO	C	0.05%	0.39%	0.05%
LFUS	D	0.05%	0.2%	0.05%
LIVN	F	0.2%	0.09%	0.09%
LNTH	D	0.17%	0.19%	0.17%
LNW	F	0.17%	0.27%	0.17%
LPX	B	0.41%	0.23%	0.23%
LSCC	D	0.23%	0.23%	0.23%
LSTR	D	0.1%	0.22%	0.1%
M	F	0.19%	0.14%	0.14%
MAN	F	0.04%	0.1%	0.04%
MANH	D	0.5%	0.56%	0.5%
MASI	B	0.08%	0.23%	0.08%
MAT	D	0.12%	0.21%	0.12%
MEDP	D	0.38%	0.28%	0.28%
MIDD	C	0.08%	0.24%	0.08%
MKSI	C	0.08%	0.25%	0.08%
MMS	F	0.04%	0.16%	0.04%
MSA	F	0.02%	0.22%	0.02%
MSM	C	0.02%	0.13%	0.02%
MTG	C	0.09%	0.21%	0.09%
MTN	C	0.09%	0.22%	0.09%
MTSI	B	0.09%	0.24%	0.09%
MUR	D	0.19%	0.16%	0.16%
NFG	A	0.13%	0.18%	0.13%
NJR	A	0.14%	0.15%	0.14%
NNN	C	0.1%	0.25%	0.1%
NOV	C	0.12%	0.21%	0.12%
NOVT	D	0.14%	0.2%	0.14%
NSP	F	0.11%	0.09%	0.09%
NVST	B	0.06%	0.11%	0.06%
NVT	B	0.49%	0.41%	0.41%
NXST	C	0.07%	0.17%	0.07%
NYT	D	0.12%	0.29%	0.12%
OC	A	0.18%	0.56%	0.18%
OGE	A	0.12%	0.28%	0.12%
OGS	A	0.13%	0.14%	0.13%
OHI	C	0.09%	0.34%	0.09%
OLED	F	0.03%	0.24%	0.03%
OLN	F	0.09%	0.16%	0.09%
ONTO	F	0.15%	0.27%	0.15%
OPCH	D	0.08%	0.12%	0.08%
ORI	A	0.41%	0.29%	0.29%
OVV	B	0.25%	0.39%	0.25%
OZK	B	0.08%	0.17%	0.08%
PBF	D	0.02%	0.1%	0.02%
PCH	F	0.01%	0.1%	0.01%
PCTY	C	0.14%	0.29%	0.14%
PEN	B	0.07%	0.3%	0.07%
PII	F	0.01%	0.12%	0.01%
PK	C	0.05%	0.1%	0.05%
PLNT	A	0.09%	0.27%	0.09%
PNFP	B	0.1%	0.31%	0.1%
POR	C	0.07%	0.16%	0.07%
POWI	F	0.01%	0.12%	0.01%
PR	B	0.02%	0.32%	0.02%
PRGO	C	0.04%	0.12%	0.04%
PRI	B	0.28%	0.33%	0.28%
PSTG	D	0.29%	0.51%	0.29%
PVH	C	0.17%	0.19%	0.17%
QLYS	B	0.13%	0.18%	0.13%
R	B	0.28%	0.24%	0.24%
RGEN	D	0.08%	0.24%	0.08%
RGLD	C	0.14%	0.3%	0.14%
RLI	A	0.03%	0.24%	0.03%
RMBS	B	0.24%	0.19%	0.19%
RNR	C	0.21%	0.44%	0.21%
ROIV	C	0.01%	0.17%	0.01%
RPM	A	0.22%	0.58%	0.22%
RRC	B	0.19%	0.27%	0.19%
RRX	B	0.2%	0.38%	0.2%
RS	B	0.49%	0.56%	0.49%
RYAN	A	0.13%	0.24%	0.13%
RYN	D	0.06%	0.13%	0.06%
SAIA	B	0.12%	0.48%	0.12%
SCI	B	0.14%	0.4%	0.14%
SF	B	0.17%	0.39%	0.17%
SFM	A	0.6%	0.47%	0.47%
SLAB	F	0.03%	0.11%	0.03%
SLM	A	0.16%	0.17%	0.16%
SMG	C	0.19%	0.1%	0.1%
SNV	C	0.05%	0.26%	0.05%
SON	F	0.09%	0.16%	0.09%
SR	A	0.12%	0.13%	0.12%
SRPT	F	0.2%	0.34%	0.2%
SSB	B	0.02%	0.27%	0.02%
SSD	F	0.14%	0.25%	0.14%
STAG	D	0.04%	0.22%	0.04%
STWD	C	0.06%	0.2%	0.06%
SWX	B	0.01%	0.15%	0.01%
SYNA	C	0.1%	0.1%	0.1%
TCBI	C	0.03%	0.14%	0.03%
TDC	D	0.01%	0.09%	0.01%
TEX	F	0.19%	0.12%	0.12%
THC	D	0.31%	0.51%	0.31%
THO	B	0.13%	0.19%	0.13%
TKR	D	0.17%	0.16%	0.16%
TMHC	C	0.09%	0.24%	0.09%
TNL	A	0.16%	0.12%	0.12%
TOL	B	0.16%	0.52%	0.16%
TPX	B	0.24%	0.31%	0.24%
TREX	C	0.24%	0.25%	0.24%
TTC	C	0.14%	0.28%	0.14%
TTEK	F	0.29%	0.36%	0.29%
TXRH	B	0.07%	0.44%	0.07%
UA	C	0.14%	0.04%	0.04%
UFPI	C	0.23%	0.27%	0.23%
UGI	C	0.1%	0.16%	0.1%
UMBF	B	0.14%	0.18%	0.14%
UNM	A	0.0%	0.41%	0.0%
USFD	A	0.18%	0.53%	0.18%
UTHR	C	0.38%	0.57%	0.38%
VAC	C	0.07%	0.1%	0.07%
VAL	F	0.01%	0.11%	0.01%
VC	F	0.08%	0.08%	0.08%
VMI	B	0.15%	0.23%	0.15%
VNO	C	0.41%	0.23%	0.23%
VNT	C	0.05%	0.2%	0.05%
VOYA	B	0.17%	0.26%	0.17%
VSH	F	0.09%	0.06%	0.06%
WAL	B	0.1%	0.33%	0.1%
WBS	A	0.05%	0.34%	0.05%
WCC	B	0.2%	0.31%	0.2%
WEN	D	0.12%	0.1%	0.1%
WEX	D	0.09%	0.25%	0.09%
WFRD	D	0.35%	0.2%	0.2%
WH	B	0.12%	0.25%	0.12%
WING	D	0.36%	0.32%	0.32%
WMS	F	0.1%	0.3%	0.1%
WSM	C	0.42%	0.55%	0.42%
WSO	A	0.31%	0.6%	0.31%
WTFC	A	0.02%	0.29%	0.02%
WTS	B	0.12%	0.19%	0.12%
X	B	0.1%	0.27%	0.1%
XPO	B	0.17%	0.57%	0.17%
XRAY	F	0.2%	0.12%	0.12%
YETI	D	0.08%	0.11%	0.08%
ZION	B	0.24%	0.29%	0.24%

SMLF Overweight 545 Positions Relative to SPMD

Symbol	Grade	Weight
APP	B	1.49%
MSTR	B	0.73%
DECK	A	0.72%
AXON	A	0.66%
ALSN	B	0.56%
NTNX	B	0.56%
JBL	C	0.55%
BPOP	C	0.53%
SLG	B	0.49%
MLI	B	0.49%
CVNA	B	0.46%
COCO	A	0.43%
PCOR	B	0.42%
COOP	B	0.41%
IOT	A	0.41%
NTRA	A	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
POWL	C	0.38%
PIPR	A	0.34%
CAVA	B	0.34%
WK	B	0.34%
HSII	B	0.31%
FLEX	B	0.31%
SOLV	D	0.31%
MAC	B	0.31%
DDS	B	0.31%
TPR	B	0.3%
ALKS	C	0.3%
SPXC	A	0.3%
CORT	B	0.3%
EXE	A	0.29%
STRL	A	0.29%
AGO	B	0.27%
INTA	B	0.27%
SN	D	0.27%
FCNCA	A	0.27%
SMAR	B	0.26%
ESTC	C	0.26%
SIG	B	0.26%
MOD	A	0.25%
HURN	C	0.25%
CPRX	C	0.24%
SKT	A	0.24%
IMKTA	C	0.24%
ENTG	D	0.23%
YOU	D	0.23%
BCC	B	0.22%
SANM	B	0.22%
GPI	B	0.22%
APA	D	0.22%
WS	C	0.22%
AXSM	B	0.22%
MATX	C	0.21%
TOST	B	0.21%
AZPN	A	0.21%
ETSY	D	0.2%
RDDT	A	0.2%
ATKR	D	0.2%
DNLI	D	0.2%
BBWI	C	0.2%
TPG	A	0.2%
LUMN	C	0.2%
RNG	C	0.19%
JOE	F	0.19%
NAVI	F	0.19%
GH	B	0.19%
HAS	D	0.19%
PRGS	A	0.18%
XRX	F	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
VCYT	B	0.18%
HIW	C	0.18%
FROG	C	0.18%
MMYT	B	0.17%
ACLX	C	0.17%
BRC	D	0.17%
PDM	D	0.17%
PRG	C	0.17%
RHI	C	0.17%
AIZ	A	0.17%
EXTR	C	0.17%
PRKS	B	0.17%
JBSS	F	0.17%
KIM	A	0.16%
IVT	A	0.16%
SRCE	B	0.16%
ALLE	C	0.16%
BL	B	0.16%
BMI	B	0.16%
WTM	A	0.16%
LRN	A	0.16%
CVCO	A	0.16%
AGNC	C	0.16%
OMF	A	0.16%
PGRE	F	0.16%
KFRC	D	0.16%
LBTYA	F	0.15%
GNRC	C	0.15%
SBGI	B	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
RL	C	0.15%
W	D	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%
ATI	C	0.14%
VSTO	A	0.14%
IGT	F	0.14%
BANF	B	0.14%
MMSI	A	0.14%
IONS	F	0.14%
PI	D	0.14%
YEXT	B	0.14%
AY	A	0.14%
SPT	C	0.14%
TPH	D	0.14%
VMEO	B	0.13%
BPMC	B	0.13%
IPAR	B	0.13%
TNET	F	0.13%
ACCO	C	0.13%
BRZE	C	0.13%
GOLF	B	0.13%
KAI	B	0.13%
BDN	C	0.13%
SFBS	C	0.13%
NUVL	C	0.13%
INSP	D	0.12%
AROC	A	0.12%
AWR	B	0.12%
GEO	B	0.12%
BASE	B	0.12%
SATS	D	0.12%
ACLS	F	0.12%
GFF	A	0.12%
BKE	B	0.12%
BSY	F	0.12%
WAFD	B	0.12%
NTCT	C	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
PARA	C	0.11%
SSTK	F	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	C	0.11%
CARG	B	0.11%
SPSC	D	0.11%
BAND	B	0.11%
ODP	F	0.11%
APOG	C	0.11%
CXW	C	0.11%
MCB	B	0.11%
MDGL	B	0.11%
BCRX	D	0.11%
KW	C	0.1%
MTRN	C	0.1%
HP	C	0.1%
ACA	A	0.1%
DNOW	B	0.1%
BECN	B	0.1%
EXPI	D	0.1%
IVZ	B	0.1%
CRDO	B	0.1%
VECO	F	0.1%
CRC	A	0.1%
HUN	F	0.1%
ICFI	F	0.1%
HOV	D	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
AGM	B	0.1%
KLIC	B	0.1%
INSM	C	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
WSC	F	0.09%
PHIN	A	0.09%
JACK	C	0.09%
MRC	B	0.09%
PCVX	D	0.09%
HEES	C	0.09%
ATEN	A	0.09%
APG	B	0.09%
PBH	A	0.09%
HI	C	0.09%
LGND	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
IDCC	B	0.09%
ALIT	C	0.09%
TGNA	B	0.09%
INVA	D	0.09%
COUR	F	0.09%
UPBD	B	0.09%
DVAX	C	0.09%
AMLX	C	0.09%
CUBI	B	0.09%
CRS	B	0.09%
FIVN	C	0.08%
TENB	C	0.08%
LILA	D	0.08%
VIR	D	0.08%
PEGA	B	0.08%
CAL	F	0.08%
ELAN	D	0.08%
SCS	C	0.08%
OSCR	D	0.08%
FHB	B	0.08%
PD	C	0.08%
KN	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%
NSSC	D	0.08%
AGX	B	0.08%
KSS	F	0.08%
CARS	C	0.08%
CSWI	B	0.08%
CNMD	C	0.07%
AFRM	A	0.07%
UNIT	B	0.07%
EQC	B	0.07%
DH	F	0.07%
HASI	D	0.07%
AMRX	C	0.07%
EYPT	D	0.07%
WYNN	C	0.07%
MATV	D	0.07%
RIG	D	0.07%
AMPH	F	0.07%
LXP	D	0.07%
AMPL	B	0.07%
FLNC	D	0.07%
WLY	B	0.07%
NBR	C	0.07%
EPAC	C	0.07%
NTB	B	0.07%
GKOS	B	0.07%
DOMO	B	0.07%
GCO	C	0.07%
PLUS	F	0.07%
SM	B	0.07%
SNEX	B	0.07%
NARI	C	0.07%
CEIX	A	0.07%
WNC	C	0.07%
AVXL	B	0.06%
YELP	C	0.06%
OXM	F	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
S	B	0.06%
TNC	D	0.06%
NXT	C	0.06%
ILPT	F	0.06%
HWKN	B	0.06%
AMCX	C	0.06%
HCC	B	0.06%
TRN	B	0.06%
MCY	A	0.06%
CTBI	B	0.06%
MPW	F	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%
RDN	D	0.06%
WTTR	A	0.06%
IRTC	C	0.06%
ADEA	C	0.06%
SFL	D	0.06%
AIV	C	0.06%
ADMA	B	0.06%
AZEK	A	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
MED	D	0.06%
FOLD	F	0.05%
AVAV	C	0.05%
ITGR	B	0.05%
ACI	C	0.05%
CVBF	A	0.05%
SONO	C	0.05%
PZZA	F	0.05%
ITRI	C	0.05%
LBTYK	A	0.05%
TILE	B	0.05%
BEAM	D	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%
SMTC	B	0.05%
ZIP	D	0.05%
THR	B	0.05%
APLS	F	0.05%
ASAN	B	0.05%
WBA	F	0.05%
MDXG	B	0.05%
WGO	C	0.05%
CENTA	C	0.05%
HPP	F	0.04%
MDU	D	0.04%
DAWN	D	0.04%
CORZ	B	0.04%
PFSI	C	0.04%
KREF	C	0.04%
OUT	A	0.04%
DIN	C	0.04%
LPG	F	0.04%
FLYW	B	0.04%
AGS	A	0.04%
IDT	B	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%
AGYS	A	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%
NHI	D	0.04%
HSTM	B	0.04%
BCPC	B	0.04%
TDS	B	0.04%
IOSP	C	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	C	0.03%
ALHC	C	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%
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%
TGTX	B	0.03%
BBIO	F	0.03%
QXO	D	0.03%
OFIX	C	0.03%
XHR	B	0.03%
VIRT	A	0.03%
QDEL	F	0.03%
REVG	C	0.03%
SNBR	F	0.03%
RYI	C	0.03%
IESC	C	0.03%
UDMY	D	0.03%
ARCH	B	0.03%
BRSP	C	0.03%
MGNI	B	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%
RPD	B	0.03%
SPRY	C	0.03%
ATRC	C	0.03%
CNS	B	0.03%
RKT	F	0.03%
UVE	B	0.03%
NRC	F	0.03%
OI	C	0.03%
BKD	F	0.03%
CVI	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SLVM	B	0.02%
OSIS	A	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%
EVH	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%
JELD	F	0.02%
EDR	A	0.02%
KRNY	C	0.02%
DAN	D	0.02%
DOCN	C	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%
MTW	C	0.02%
DY	D	0.02%
DBI	F	0.02%
LMAT	A	0.02%
CLVT	D	0.02%
RLJ	C	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%
PTCT	B	0.02%
GIII	D	0.02%
USNA	C	0.02%
ARCB	C	0.02%
PDCO	F	0.02%
CALX	D	0.02%
CWK	C	0.01%
PGEN	F	0.01%
AIN	C	0.01%
ARR	D	0.01%
PEB	D	0.01%
JAMF	F	0.01%
EPC	F	0.01%
SFIX	B	0.01%
FLWS	D	0.01%
XPRO	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%
CRAI	C	0.01%
SWI	C	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	B	0.01%
TR	B	0.01%
TTGT	B	0.01%
HCAT	D	0.01%
OIS	B	0.01%
RBRK	A	0.01%
NGVT	B	0.01%
ENVA	B	0.01%
HMST	F	0.01%
AXS	A	0.01%
CAKE	C	0.01%
STGW	A	0.01%
OLPX	D	0.01%
ENR	B	0.01%
BSIG	A	0.01%
GWRE	A	0.01%
RHP	B	0.01%
PYCR	B	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%
NEXA	B	0.01%
UPWK	B	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%
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	C	0.0%
GNW	A	0.0%
PFBC	B	0.0%
CASH	B	0.0%
TBBK	B	0.0%
FBP	C	0.0%
PRDO	B	0.0%
BKU	A	0.0%
CMA	B	0.0%
AX	B	0.0%
OFG	B	0.0%

SMLF Underweight 127 Positions Relative to SPMD

Symbol	Grade	Weight
TPL	A	-0.85%
ILMN	C	-0.75%
LII	A	-0.65%
BURL	B	-0.56%
RBA	A	-0.56%
DOCU	B	-0.54%
DT	D	-0.53%
FNF	B	-0.52%
COHR	B	-0.51%
RGA	A	-0.5%
EQH	C	-0.5%
AVTR	F	-0.47%
PFGC	B	-0.44%
ELS	C	-0.44%
NBIX	C	-0.41%
JLL	D	-0.41%
BMRN	F	-0.41%
WPC	C	-0.4%
ATR	B	-0.38%
FND	D	-0.36%
CCK	D	-0.35%
CG	B	-0.35%
ARMK	B	-0.34%
AFG	A	-0.34%
EXP	B	-0.34%
WWD	C	-0.34%
ALLY	C	-0.33%
LAD	A	-0.33%
WTRG	B	-0.32%
INGR	C	-0.32%
MUSA	B	-0.32%
MORN	B	-0.31%
FBIN	D	-0.31%
CNH	C	-0.31%
AAL	B	-0.31%
AAON	B	-0.3%
KNX	C	-0.3%
RBC	A	-0.3%
REXR	F	-0.3%
SNX	D	-0.29%
MTZ	B	-0.28%
SEIC	B	-0.27%
SKX	D	-0.27%
FLS	B	-0.26%
PB	B	-0.26%
TKO	A	-0.26%
HLNE	B	-0.26%
KEX	B	-0.25%
ADC	A	-0.25%
JAZZ	B	-0.25%
GXO	B	-0.24%
OSK	C	-0.24%
G	B	-0.24%
MTDR	B	-0.23%
CADE	B	-0.23%
ONB	C	-0.23%
CGNX	D	-0.23%
GNTX	C	-0.23%
H	B	-0.23%
GTLS	A	-0.23%
DAR	C	-0.22%
DBX	B	-0.22%
BIO	C	-0.22%
WHR	B	-0.21%
GBCI	B	-0.21%
SAIC	F	-0.21%
COLB	B	-0.21%
ESNT	F	-0.2%
FNB	A	-0.2%
SIGI	C	-0.2%
ALTR	B	-0.2%
KBH	D	-0.19%
OLLI	D	-0.19%
HOMB	A	-0.19%
UBSI	B	-0.19%
LITE	B	-0.19%
THG	A	-0.19%
LEA	F	-0.18%
VVV	D	-0.18%
CLF	F	-0.18%
POST	C	-0.17%
WMG	D	-0.16%
VLY	B	-0.16%
LOPE	C	-0.16%
RH	C	-0.16%
FIVE	F	-0.16%
ST	F	-0.16%
AVT	C	-0.15%
CIVI	D	-0.15%
IRT	A	-0.15%
PSN	D	-0.15%
PNM	B	-0.14%
NEU	D	-0.14%
WLK	D	-0.14%
SBRA	C	-0.14%
KMPR	A	-0.14%
ORA	B	-0.14%
DLB	B	-0.14%
SLGN	A	-0.14%
IRDM	D	-0.12%
WU	F	-0.12%
ALE	A	-0.12%
GHC	B	-0.11%
CHH	A	-0.11%
NWE	B	-0.11%
NEOG	F	-0.1%
AMKR	D	-0.1%
NSA	C	-0.1%
AMED	F	-0.1%
PAG	B	-0.1%
ZI	D	-0.1%
BHF	C	-0.1%
GT	C	-0.09%
HGV	C	-0.09%
COLM	C	-0.09%
SAM	C	-0.09%
SHC	F	-0.08%
CPRI	F	-0.08%
ENOV	C	-0.08%
PPC	C	-0.07%
IPGP	D	-0.07%
AZTA	D	-0.07%
JWN	D	-0.07%
RCM	A	-0.07%
UAA	C	-0.06%
CNXC	F	-0.06%
CRI	F	-0.06%