SMLF vs. VBR ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Vanguard Small-Cap Value ETF - DNQ (VBR)

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

$71.70

Average Daily Volume

64,414

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

VBR

Vanguard Small-Cap Value ETF - DNQ

VBR Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index, a broadly diversified index of value stocks of small U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$211.24

Average Daily Volume

422,454

Number of Holdings ^*

797

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	VBR
30 Days	7.02%	5.18%
60 Days	11.59%	8.51%
90 Days	15.85%	12.95%
12 Months	44.98%	38.40%

413 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in VBR	Overlap
AA	C	0.15%	0.29%	0.15%
ABG	B	0.15%	0.14%	0.14%
ACA	B	0.1%	0.13%	0.1%
ACHC	F	0.05%	0.16%	0.05%
ACI	C	0.05%	0.17%	0.05%
ACM	B	0.2%	0.4%	0.2%
AEO	F	0.05%	0.11%	0.05%
AGCO	F	0.2%	0.18%	0.18%
AGNC	D	0.16%	0.24%	0.16%
AGO	B	0.25%	0.11%	0.11%
AIN	D	0.01%	0.08%	0.01%
AIT	A	0.12%	0.25%	0.12%
AIV	D	0.06%	0.04%	0.04%
AIZ	A	0.16%	0.3%	0.16%
ALIT	B	0.09%	0.09%	0.09%
ALLE	D	0.16%	0.37%	0.16%
ALSN	B	0.56%	0.24%	0.24%
ALX	D	0.1%	0.01%	0.01%
AM	B	0.38%	0.15%	0.15%
AMBC	C	0.05%	0.01%	0.01%
AMCX	C	0.05%	0.0%	0.0%
AMG	C	0.22%	0.15%	0.15%
AMN	F	0.06%	0.05%	0.05%
AMRX	B	0.06%	0.03%	0.03%
AN	D	0.24%	0.17%	0.17%
ANF	D	0.3%	0.21%	0.21%
APA	F	0.21%	0.26%	0.21%
APG	B	0.09%	0.24%	0.09%
APOG	B	0.11%	0.04%	0.04%
AR	B	0.2%	0.12%	0.12%
ARCB	C	0.02%	0.07%	0.02%
ARCH	B	0.03%	0.07%	0.03%
AROC	B	0.11%	0.09%	0.09%
ARRY	D	0.03%	0.01%	0.01%
ARW	F	0.18%	0.2%	0.18%
ASB	B	0.1%	0.09%	0.09%
ASGN	B	0.01%	0.11%	0.01%
ASH	F	0.07%	0.12%	0.07%
ASO	F	0.06%	0.12%	0.06%
ATKR	C	0.22%	0.09%	0.09%
AVNT	B	0.18%	0.13%	0.13%
AWR	B	0.12%	0.09%	0.09%
AX	B	0.0%	0.1%	0.0%
AXS	B	0.01%	0.17%	0.01%
AXTA	B	0.02%	0.23%	0.02%
AYI	A	0.35%	0.24%	0.24%
BANF	B	0.13%	0.06%	0.06%
BASE	C	0.11%	0.02%	0.02%
BBWI	C	0.2%	0.2%	0.2%
BC	D	0.09%	0.16%	0.09%
BCC	B	0.21%	0.16%	0.16%
BCO	F	0.07%	0.14%	0.07%
BDC	B	0.09%	0.14%	0.09%
BDN	D	0.14%	0.03%	0.03%
BECN	B	0.1%	0.15%	0.1%
BERY	C	0.1%	0.21%	0.1%
BFH	B	0.0%	0.07%	0.0%
BJ	B	0.16%	0.32%	0.16%
BKD	F	0.04%	0.04%	0.04%
BKE	A	0.11%	0.04%	0.04%
BKH	B	0.01%	0.12%	0.01%
BKU	B	0.0%	0.08%	0.0%
BLKB	C	0.12%	0.06%	0.06%
BLMN	F	0.06%	0.04%	0.04%
BMBL	C	0.02%	0.02%	0.02%
BOH	B	0.0%	0.07%	0.0%
BPOP	C	0.52%	0.21%	0.21%
BRC	B	0.17%	0.09%	0.09%
BRSP	B	0.03%	0.02%	0.02%
BRX	B	0.36%	0.24%	0.24%
BYD	A	0.01%	0.06%	0.01%
CACI	B	0.02%	0.32%	0.02%
CAKE	B	0.01%	0.05%	0.01%
CAL	D	0.08%	0.02%	0.02%
CAR	C	0.08%	0.04%	0.04%
CARS	B	0.08%	0.03%	0.03%
CBSH	A	0.22%	0.2%	0.2%
CBT	B	0.13%	0.18%	0.13%
CC	D	0.06%	0.09%	0.06%
CDP	C	0.03%	0.1%	0.03%
CENTA	C	0.05%	0.05%	0.05%
CFFN	B	0.04%	0.02%	0.02%
CFR	B	0.25%	0.19%	0.19%
CHCO	B	0.0%	0.05%	0.0%
CHRD	F	0.03%	0.23%	0.03%
CMA	B	0.21%	0.23%	0.21%
CMC	B	0.14%	0.18%	0.14%
CMPR	D	0.1%	0.02%	0.02%
CNDT	B	0.02%	0.01%	0.01%
CNO	B	0.16%	0.1%	0.1%
CNX	B	0.06%	0.13%	0.06%
COOP	B	0.41%	0.16%	0.16%
COTY	F	0.05%	0.09%	0.05%
CR	B	0.35%	0.22%	0.22%
CRC	B	0.09%	0.12%	0.09%
CRUS	F	0.11%	0.19%	0.11%
CSL	C	0.4%	0.6%	0.4%
CUZ	C	0.08%	0.13%	0.08%
CVBF	B	0.05%	0.07%	0.05%
CVI	F	0.03%	0.02%	0.02%
CWEN	D	0.15%	0.07%	0.07%
CWEN	D	0.15%	0.03%	0.03%
CWK	B	0.01%	0.09%	0.01%
CXT	D	0.09%	0.08%	0.08%
CXW	B	0.12%	0.04%	0.04%
DAN	F	0.02%	0.04%	0.02%
DAWN	B	0.04%	0.01%	0.01%
DCI	A	0.18%	0.26%	0.18%
DDS	C	0.29%	0.05%	0.05%
DEI	C	0.0%	0.08%	0.0%
DIN	C	0.04%	0.01%	0.01%
DINO	D	0.01%	0.21%	0.01%
DKS	D	0.38%	0.24%	0.24%
DLX	B	0.08%	0.02%	0.02%
DNB	B	0.03%	0.11%	0.03%
DNOW	B	0.09%	0.04%	0.04%
DTM	A	0.19%	0.22%	0.19%
DY	C	0.02%	0.08%	0.02%
DYN	D	0.02%	0.04%	0.02%
EDR	C	0.02%	0.11%	0.02%
EGBN	B	0.04%	0.01%	0.01%
EGP	D	0.09%	0.26%	0.09%
EHC	B	0.05%	0.28%	0.05%
EIG	B	0.0%	0.03%	0.0%
ELAN	D	0.08%	0.21%	0.08%
EMBC	B	0.03%	0.02%	0.02%
EME	B	0.94%	0.58%	0.58%
ENR	B	0.01%	0.07%	0.01%
ENS	D	0.04%	0.12%	0.04%
EPC	F	0.01%	0.05%	0.01%
EPR	D	0.02%	0.11%	0.02%
EQC	B	0.07%	0.06%	0.06%
ESAB	B	0.18%	0.18%	0.18%
ESI	B	0.16%	0.17%	0.16%
EVR	B	0.82%	0.27%	0.27%
EVTC	B	0.03%	0.06%	0.03%
EWBC	A	0.38%	0.33%	0.33%
FAF	D	0.15%	0.19%	0.15%
FBP	B	0.0%	0.1%	0.0%
FCN	D	0.04%	0.24%	0.04%
FCNCA	B	0.27%	0.57%	0.27%
FFIN	B	0.04%	0.13%	0.04%
FHB	B	0.08%	0.09%	0.08%
FHI	A	0.1%	0.08%	0.08%
FHN	B	0.04%	0.24%	0.04%
FL	D	0.03%	0.07%	0.03%
FLO	F	0.06%	0.13%	0.06%
FLR	C	0.09%	0.24%	0.09%
FR	D	0.31%	0.21%	0.21%
FULT	B	0.0%	0.09%	0.0%
FYBR	D	0.13%	0.25%	0.13%
GAP	C	0.22%	0.15%	0.15%
GATX	B	0.15%	0.14%	0.14%
GEF	A	0.01%	0.04%	0.01%
GEF	A	0.01%	0.0%	0.0%
GEO	B	0.11%	0.05%	0.05%
GES	F	0.15%	0.02%	0.02%
GFF	C	0.11%	0.09%	0.09%
GIII	C	0.02%	0.03%	0.02%
GLPI	D	0.18%	0.39%	0.18%
GME	C	0.14%	0.25%	0.14%
GMS	B	0.08%	0.1%	0.08%
GNW	A	0.0%	0.09%	0.0%
GO	D	0.01%	0.04%	0.01%
GOLF	B	0.14%	0.05%	0.05%
GPI	B	0.21%	0.14%	0.14%
GPK	D	0.27%	0.26%	0.26%
HAIN	F	0.01%	0.02%	0.01%
HAS	D	0.19%	0.28%	0.19%
HASI	F	0.08%	0.12%	0.08%
HCC	C	0.06%	0.1%	0.06%
HE	F	0.07%	0.05%	0.05%
HEES	B	0.09%	0.04%	0.04%
HELE	C	0.04%	0.04%	0.04%
HI	C	0.08%	0.06%	0.06%
HIW	D	0.19%	0.1%	0.1%
HLF	C	0.05%	0.02%	0.02%
HNI	B	0.03%	0.07%	0.03%
HOG	F	0.15%	0.13%	0.13%
HP	C	0.1%	0.04%	0.04%
HPP	F	0.04%	0.02%	0.02%
HRB	D	0.42%	0.26%	0.26%
HTH	B	0.11%	0.04%	0.04%
HTZ	D	0.01%	0.01%	0.01%
HUN	F	0.11%	0.11%	0.11%
HURN	B	0.26%	0.06%	0.06%
HWC	B	0.08%	0.13%	0.08%
IBOC	B	0.1%	0.1%	0.1%
IDA	A	0.44%	0.16%	0.16%
INVA	B	0.1%	0.03%	0.03%
IOSP	B	0.04%	0.08%	0.04%
ITGR	B	0.05%	0.13%	0.05%
ITT	A	0.31%	0.35%	0.31%
IVT	B	0.16%	0.06%	0.06%
IVZ	C	0.1%	0.22%	0.1%
JACK	D	0.09%	0.03%	0.03%
JBL	B	0.58%	0.37%	0.37%
JEF	B	0.37%	0.26%	0.26%
JELD	F	0.02%	0.04%	0.02%
JHG	B	0.29%	0.14%	0.14%
JOBY	C	0.01%	0.06%	0.01%
JXN	B	0.0%	0.2%	0.0%
KALU	B	0.01%	0.03%	0.01%
KBR	B	0.14%	0.25%	0.14%
KD	B	0.06%	0.15%	0.06%
KFRC	C	0.17%	0.03%	0.03%
KFY	B	0.02%	0.11%	0.02%
KIM	B	0.15%	0.45%	0.15%
KN	B	0.08%	0.04%	0.04%
KNF	C	0.08%	0.15%	0.08%
KRC	C	0.13%	0.13%	0.13%
KREF	D	0.04%	0.02%	0.02%
KSS	F	0.08%	0.06%	0.06%
LADR	B	0.06%	0.04%	0.04%
LAMR	D	0.34%	0.17%	0.17%
LGND	B	0.1%	0.05%	0.05%
LPX	A	0.39%	0.2%	0.2%
LRN	B	0.16%	0.05%	0.05%
LUMN	B	0.22%	0.21%	0.21%
LXP	D	0.07%	0.08%	0.07%
LYFT	B	0.1%	0.13%	0.1%
M	D	0.2%	0.12%	0.12%
MAC	B	0.31%	0.11%	0.11%
MAN	F	0.04%	0.1%	0.04%
MAT	C	0.12%	0.19%	0.12%
MATV	F	0.08%	0.03%	0.03%
MATX	B	0.2%	0.14%	0.14%
MCY	B	0.06%	0.05%	0.05%
MDGL	B	0.13%	0.11%	0.11%
MDU	F	0.04%	0.15%	0.04%
MIDD	C	0.09%	0.22%	0.09%
MKSI	D	0.08%	0.21%	0.08%
MLI	B	0.5%	0.24%	0.24%
MOG.A	B	0.03%	0.17%	0.03%
MPW	F	0.06%	0.1%	0.06%
MRC	B	0.09%	0.03%	0.03%
MSA	D	0.02%	0.19%	0.02%
MSM	B	0.02%	0.11%	0.02%
MTG	D	0.09%	0.19%	0.09%
MTRN	B	0.09%	0.07%	0.07%
MUR	F	0.19%	0.14%	0.14%
NATL	C	0.04%	0.06%	0.04%
NAVI	C	0.19%	0.03%	0.03%
NBTB	B	0.0%	0.06%	0.0%
NFG	C	0.12%	0.16%	0.12%
NGVT	B	0.01%	0.04%	0.01%
NHI	C	0.04%	0.11%	0.04%
NJR	B	0.14%	0.13%	0.13%
NNN	F	0.1%	0.26%	0.1%
NSIT	F	0.07%	0.2%	0.07%
NSP	F	0.12%	0.09%	0.09%
NTCT	B	0.1%	0.04%	0.04%
NUS	D	0.02%	0.01%	0.01%
NUVL	D	0.14%	0.13%	0.13%
NVST	C	0.06%	0.1%	0.06%
NVT	B	0.51%	0.34%	0.34%
NWL	B	0.02%	0.09%	0.02%
NWN	B	0.01%	0.04%	0.01%
NX	C	0.03%	0.04%	0.03%
NXST	C	0.08%	0.15%	0.08%
NYT	C	0.12%	0.25%	0.12%
OC	B	0.17%	0.44%	0.17%
ODP	F	0.12%	0.03%	0.03%
OFG	C	0.0%	0.06%	0.0%
OGE	B	0.12%	0.24%	0.12%
OGS	B	0.13%	0.12%	0.12%
OHI	B	0.09%	0.3%	0.09%
OI	D	0.03%	0.06%	0.03%
OLN	D	0.1%	0.16%	0.1%
OLPX	F	0.01%	0.01%	0.01%
OMF	B	0.16%	0.16%	0.16%
OMI	F	0.04%	0.03%	0.03%
ORI	A	0.4%	0.24%	0.24%
OSIS	C	0.02%	0.07%	0.02%
OTTR	C	0.07%	0.09%	0.07%
OUT	C	0.04%	0.07%	0.04%
OVV	C	0.23%	0.29%	0.23%
OXM	D	0.06%	0.04%	0.04%
OZK	B	0.08%	0.13%	0.08%
PARA	C	0.11%	0.16%	0.11%
PBF	F	0.02%	0.08%	0.02%
PBH	A	0.08%	0.1%	0.08%
PCH	F	0.01%	0.1%	0.01%
PDCO	D	0.03%	0.05%	0.03%
PDM	C	0.18%	0.04%	0.04%
PFSI	D	0.04%	0.08%	0.04%
PHIN	B	0.08%	0.06%	0.06%
PII	F	0.01%	0.13%	0.01%
PIPR	B	0.34%	0.14%	0.14%
PK	B	0.05%	0.08%	0.05%
PNFP	B	0.09%	0.1%	0.09%
POR	D	0.07%	0.14%	0.07%
PR	B	0.02%	0.12%	0.02%
PRG	C	0.17%	0.06%	0.06%
PRGO	C	0.04%	0.1%	0.04%
PRGS	A	0.17%	0.08%	0.08%
PRI	A	0.27%	0.26%	0.26%
PTEN	D	0.11%	0.09%	0.09%
PVH	C	0.17%	0.16%	0.16%
PZZA	D	0.05%	0.05%	0.05%
R	B	0.27%	0.17%	0.17%
RBRK	B	0.01%	0.02%	0.01%
RDN	C	0.06%	0.15%	0.06%
REVG	B	0.03%	0.04%	0.03%
RHI	B	0.17%	0.19%	0.17%
RL	B	0.16%	0.21%	0.16%
RLI	A	0.03%	0.19%	0.03%
RNG	C	0.2%	0.07%	0.07%
RNR	D	0.21%	0.41%	0.21%
RPM	B	0.21%	0.45%	0.21%
RRC	B	0.19%	0.2%	0.19%
RRX	C	0.2%	0.32%	0.2%
RS	B	0.5%	0.46%	0.46%
RUSHA	B	0.06%	0.1%	0.06%
RYN	F	0.06%	0.14%	0.06%
SAH	B	0.04%	0.02%	0.02%
SANM	B	0.23%	0.1%	0.1%
SATS	C	0.14%	0.09%	0.09%
SCI	B	0.14%	0.31%	0.14%
SCS	C	0.08%	0.03%	0.03%
SEE	C	0.0%	0.12%	0.0%
SF	A	0.17%	0.26%	0.17%
SFBS	B	0.13%	0.06%	0.06%
SFM	B	0.59%	0.32%	0.32%
SHO	B	0.02%	0.06%	0.02%
SIG	B	0.26%	0.13%	0.13%
SKT	A	0.24%	0.1%	0.1%
SLG	C	0.51%	0.13%	0.13%
SLM	B	0.16%	0.14%	0.14%
SM	C	0.07%	0.07%	0.07%
SMG	C	0.18%	0.11%	0.11%
SNV	B	0.05%	0.18%	0.05%
SOLV	C	0.34%	0.28%	0.28%
SON	F	0.09%	0.15%	0.09%
SPB	A	0.15%	0.07%	0.07%
SR	C	0.11%	0.11%	0.11%
SSB	B	0.02%	0.21%	0.02%
SSTK	D	0.12%	0.01%	0.01%
STAG	F	0.04%	0.21%	0.04%
STWD	D	0.06%	0.19%	0.06%
SUPN	B	0.03%	0.05%	0.03%
SVC	F	0.03%	0.02%	0.02%
SWI	B	0.01%	0.02%	0.01%
SWX	B	0.01%	0.13%	0.01%
SYNA	D	0.1%	0.09%	0.09%
TCBI	A	0.03%	0.1%	0.03%
TDC	D	0.01%	0.08%	0.01%
TDS	B	0.05%	0.06%	0.05%
TEX	C	0.2%	0.1%	0.1%
TGNA	B	0.1%	0.08%	0.08%
THC	B	0.32%	0.46%	0.32%
THO	B	0.13%	0.16%	0.13%
THR	D	0.05%	0.03%	0.03%
TILE	B	0.05%	0.02%	0.02%
TKR	F	0.17%	0.15%	0.15%
TMHC	C	0.09%	0.2%	0.09%
TNL	A	0.16%	0.09%	0.09%
TOL	B	0.16%	0.46%	0.16%
TPG	B	0.2%	0.14%	0.14%
TPH	D	0.14%	0.12%	0.12%
TPR	B	0.26%	0.31%	0.26%
TRMK	B	0.0%	0.05%	0.0%
TRN	A	0.06%	0.08%	0.06%
TTEK	C	0.33%	0.36%	0.33%
UA	B	0.16%	0.03%	0.03%
UFPI	B	0.23%	0.22%	0.22%
UGI	D	0.1%	0.15%	0.1%
UMBF	B	0.13%	0.13%	0.13%
UNFI	B	0.02%	0.03%	0.02%
UNIT	B	0.07%	0.04%	0.04%
UNM	A	0.0%	0.25%	0.0%
UPBD	B	0.09%	0.05%	0.05%
USFD	A	0.18%	0.43%	0.18%
USNA	C	0.02%	0.01%	0.01%
UTHR	B	0.39%	0.46%	0.39%
UVV	B	0.06%	0.04%	0.04%
VAC	B	0.07%	0.07%	0.07%
VC	D	0.07%	0.04%	0.04%
VFC	C	0.09%	0.22%	0.09%
VIAV	B	0.03%	0.06%	0.03%
VIRT	B	0.03%	0.07%	0.03%
VMEO	B	0.13%	0.01%	0.01%
VMI	B	0.15%	0.17%	0.15%
VNO	C	0.44%	0.21%	0.21%
VNT	B	0.05%	0.15%	0.05%
VOYA	A	0.16%	0.22%	0.16%
VRE	C	0.01%	0.04%	0.01%
VSH	F	0.09%	0.07%	0.07%
VSTO	A	0.14%	0.03%	0.03%
VSTS	D	0.02%	0.06%	0.02%
WAFD	B	0.12%	0.08%	0.08%
WAL	B	0.1%	0.26%	0.1%
WBA	D	0.05%	0.09%	0.05%
WBS	B	0.05%	0.23%	0.05%
WCC	B	0.2%	0.24%	0.2%
WD	C	0.02%	0.1%	0.02%
WEN	C	0.13%	0.09%	0.09%
WLY	A	0.07%	0.06%	0.06%
WNC	C	0.07%	0.02%	0.02%
WOOF	D	0.02%	0.01%	0.01%
WOR	D	0.08%	0.04%	0.04%
WS	B	0.23%	0.03%	0.03%
WSM	F	0.42%	0.45%	0.42%
WTFC	A	0.02%	0.21%	0.02%
WTM	A	0.15%	0.12%	0.12%
WTS	B	0.12%	0.16%	0.12%
X	B	0.11%	0.21%	0.11%
XHR	B	0.03%	0.02%	0.02%
XPO	B	0.17%	0.17%	0.17%
XRAY	F	0.19%	0.16%	0.16%
XRX	F	0.18%	0.03%	0.03%
ZION	B	0.23%	0.2%	0.2%
ZIP	C	0.06%	0.01%	0.01%

SMLF Overweight 399 Positions Relative to VBR

Symbol	Grade	Weight
APP	A	1.28%
DECK	B	0.69%
MSTR	A	0.6%
NTNX	B	0.55%
AXON	B	0.51%
MANH	C	0.51%
CVNA	B	0.46%
COCO	B	0.45%
FIX	B	0.44%
DUOL	B	0.43%
LBRDA	B	0.43%
POWL	B	0.42%
IBKR	A	0.42%
IOT	B	0.41%
PCOR	B	0.41%
MEDP	D	0.4%
CNM	D	0.39%
GTLB	C	0.38%
WING	D	0.36%
WFRD	D	0.36%
NTRA	B	0.34%
CAVA	B	0.34%
FLEX	B	0.33%
WK	B	0.33%
WSO	A	0.31%
PSTG	D	0.31%
GGG	B	0.3%
CHE	D	0.3%
SPXC	B	0.3%
ALKS	B	0.3%
HSII	B	0.3%
CORT	B	0.29%
EXE	A	0.28%
STRL	B	0.28%
INTA	B	0.28%
HALO	B	0.26%
MOD	C	0.26%
ESTC	C	0.25%
CPRX	B	0.25%
RMBS	C	0.25%
SN	D	0.25%
SMAR	B	0.25%
TREX	C	0.24%
AMH	D	0.24%
ENTG	D	0.24%
YOU	C	0.24%
EXEL	B	0.24%
LSCC	C	0.24%
TPX	C	0.23%
EXLS	A	0.23%
LBTYA	C	0.23%
IMKTA	C	0.23%
CW	B	0.23%
COKE	D	0.22%
BLD	F	0.22%
AXSM	B	0.21%
DNLI	B	0.21%
AZPN	B	0.21%
SRPT	F	0.21%
JOE	F	0.2%
ETSY	C	0.2%
TDOC	C	0.19%
FROG	C	0.19%
CROX	F	0.19%
HAE	B	0.19%
LIVN	D	0.19%
RDDT	B	0.19%
VCYT	B	0.18%
NDSN	B	0.18%
JBSS	F	0.18%
EXTR	B	0.18%
GH	B	0.18%
ELF	C	0.18%
LNTH	F	0.18%
LNW	C	0.18%
KNSL	C	0.17%
MMYT	C	0.17%
PGRE	B	0.17%
KRG	B	0.17%
TOST	A	0.17%
HLI	B	0.17%
ACLX	B	0.17%
CVCO	B	0.16%
BMI	B	0.16%
ONTO	F	0.16%
PRKS	B	0.16%
PCTY	A	0.15%
GNRC	B	0.15%
NOVT	C	0.15%
XNCR	B	0.15%
SSD	D	0.15%
SKY	C	0.15%
TTC	D	0.15%
SBGI	C	0.15%
PI	D	0.15%
SRCE	A	0.15%
SPT	D	0.15%
BL	B	0.15%
BRKR	F	0.15%
W	F	0.15%
AMR	C	0.14%
QLYS	C	0.14%
ATI	D	0.14%
MMSI	A	0.14%
YEXT	B	0.14%
ONON	B	0.14%
AY	B	0.14%
ENSG	C	0.14%
IONS	F	0.14%
RGLD	C	0.14%
FTAI	B	0.14%
IGT	D	0.14%
DOCS	B	0.13%
BRZE	C	0.13%
WMS	F	0.13%
KAI	B	0.13%
ACCO	B	0.13%
BSY	D	0.13%
ACLS	F	0.13%
RYAN	B	0.13%
BPMC	B	0.13%
INSP	D	0.13%
MFA	D	0.12%
BAND	C	0.12%
BCRX	C	0.12%
SAIA	B	0.12%
HIMS	B	0.12%
WH	A	0.12%
AMLX	C	0.12%
IPAR	C	0.12%
TNET	D	0.12%
BWXT	A	0.12%
NOV	D	0.12%
MCB	A	0.11%
ICFI	C	0.11%
CRDO	B	0.11%
LOVE	B	0.11%
KLIC	B	0.11%
CUBE	D	0.11%
CYTK	C	0.11%
ACAD	C	0.11%
OII	B	0.11%
DFIN	D	0.11%
CHX	D	0.11%
LAZ	B	0.11%
SPSC	D	0.11%
CRS	B	0.1%
PCVX	D	0.1%
WSC	F	0.1%
KW	C	0.1%
CHDN	C	0.1%
LSTR	B	0.1%
EXPO	D	0.1%
AGM	B	0.1%
INSM	D	0.1%
CARG	A	0.1%
LZ	C	0.1%
HOV	D	0.1%
VECO	F	0.1%
EXPI	B	0.1%
TXNM	A	0.1%
VRNS	D	0.1%
CSWI	B	0.09%
EEFT	C	0.09%
VIR	C	0.09%
PLUS	D	0.09%
CUBI	B	0.09%
PLNT	B	0.09%
VERA	B	0.09%
IDCC	A	0.09%
FLG	C	0.09%
MTSI	B	0.09%
WEX	D	0.09%
LILA	F	0.09%
COUR	F	0.09%
CEIX	B	0.08%
TENB	D	0.08%
PEGA	A	0.08%
NARI	C	0.08%
CVLT	B	0.08%
LBTYK	D	0.08%
NBR	C	0.08%
OPCH	F	0.08%
RGEN	D	0.08%
BOX	B	0.08%
YETI	C	0.08%
MASI	B	0.08%
ATEN	A	0.08%
PD	C	0.08%
CACC	F	0.08%
DVAX	B	0.08%
ALV	C	0.08%
NSSC	F	0.08%
MTN	D	0.08%
AGX	B	0.08%
PEN	B	0.07%
CLH	B	0.07%
CNMD	C	0.07%
GCO	B	0.07%
AMPH	C	0.07%
RIG	D	0.07%
OSCR	F	0.07%
MED	D	0.07%
GKOS	A	0.07%
NTB	B	0.07%
AMPL	C	0.07%
TXRH	B	0.07%
ADEA	C	0.07%
EYPT	D	0.07%
SNEX	B	0.07%
DOMO	C	0.07%
EPAC	B	0.07%
VKTX	D	0.07%
YELP	C	0.06%
HWKN	C	0.06%
CTBI	B	0.06%
LECO	B	0.06%
S	B	0.06%
FUN	C	0.06%
FN	B	0.06%
ILPT	F	0.06%
AFRM	A	0.06%
NXT	D	0.06%
ITCI	B	0.06%
TNC	F	0.06%
ADMA	B	0.06%
CASY	A	0.06%
SFL	F	0.06%
APPF	B	0.06%
WTTR	B	0.06%
WYNN	F	0.06%
FIVN	C	0.06%
AZEK	B	0.06%
DH	D	0.06%
IRTC	C	0.06%
ANGI	F	0.06%
FLNC	C	0.06%
CELH	F	0.05%
SANA	F	0.05%
RCUS	C	0.05%
SONO	C	0.05%
KLG	D	0.05%
CERS	D	0.05%
BEAM	C	0.05%
MMS	C	0.05%
FOLD	D	0.05%
ITRI	B	0.05%
AVAV	C	0.05%
TARS	B	0.05%
GPMT	C	0.05%
ASAN	C	0.05%
SITE	C	0.05%
AVDX	C	0.05%
PATH	C	0.05%
HOUS	F	0.05%
AVXL	B	0.05%
SOFI	B	0.05%
APLS	F	0.05%
WGO	B	0.05%
LFUS	D	0.05%
BRBR	A	0.05%
MERC	F	0.05%
SMTC	B	0.05%
ATRC	B	0.04%
RDFN	D	0.04%
ARWR	C	0.04%
VITL	F	0.04%
NRC	D	0.04%
OLED	F	0.04%
SPRY	B	0.04%
LPG	F	0.04%
AGS	B	0.04%
RKT	D	0.04%
IDT	B	0.04%
AGYS	B	0.04%
ROKU	C	0.04%
CORZ	B	0.04%
RVMD	B	0.04%
MDXG	B	0.04%
ANAB	F	0.04%
HSTM	A	0.04%
BCPC	B	0.04%
IBP	F	0.04%
KOS	F	0.04%
ALRM	C	0.03%
TLRY	F	0.03%
MGNI	A	0.03%
SWIM	D	0.03%
TGTX	B	0.03%
LANC	B	0.03%
JANX	C	0.03%
GMED	B	0.03%
VCEL	B	0.03%
VNDA	B	0.03%
ALHC	C	0.03%
AKRO	C	0.03%
ADT	B	0.03%
RGNX	F	0.03%
CALX	F	0.03%
LTH	D	0.03%
CHWY	B	0.03%
QDEL	F	0.03%
CIEN	B	0.03%
SNDX	D	0.03%
QXO	D	0.03%
OFIX	B	0.03%
BBIO	F	0.03%
IESC	B	0.03%
RYI	C	0.03%
ACCD	F	0.03%
BILL	A	0.03%
UVE	B	0.03%
FLYW	C	0.03%
IVR	D	0.03%
CGEM	F	0.03%
SNBR	D	0.03%
UDMY	C	0.03%
EVH	F	0.03%
RPD	C	0.03%
TPB	A	0.03%
CNS	B	0.03%
SLAB	F	0.03%
AEIS	B	0.02%
UPWK	B	0.02%
RXT	B	0.02%
ERAS	B	0.02%
ARCT	F	0.02%
TSE	F	0.02%
PRO	C	0.02%
SLVM	C	0.02%
RAMP	C	0.02%
KRNY	B	0.02%
SAFE	F	0.02%
QRTEA	F	0.02%
BRY	F	0.02%
EVRI	A	0.02%
DOCN	D	0.02%
MTW	C	0.02%
FSS	C	0.02%
GPRO	C	0.02%
LMAT	B	0.02%
RLJ	C	0.02%
ALAB	B	0.02%
DBI	F	0.02%
OPI	F	0.02%
CLVT	F	0.02%
SITC	D	0.02%
TWO	F	0.02%
IRWD	D	0.02%
PTCT	B	0.02%
OPEN	F	0.02%
CRSP	C	0.02%
MAGN	F	0.01%
VAL	F	0.01%
ARR	D	0.01%
ALGM	F	0.01%
PGEN	D	0.01%
SFIX	C	0.01%
PEB	D	0.01%
BIGC	C	0.01%
MBC	D	0.01%
UTL	C	0.01%
POWI	C	0.01%
JAMF	F	0.01%
TR	C	0.01%
ZUO	C	0.01%
XPRO	F	0.01%
FLWS	C	0.01%
OMER	C	0.01%
MITK	C	0.01%
MLAB	D	0.01%
HMST	D	0.01%
ROIV	D	0.01%
TTGT	C	0.01%
OIS	C	0.01%
CRAI	B	0.01%
NTLA	F	0.01%
ENVA	A	0.01%
HCAT	C	0.01%
STGW	B	0.01%
WTI	D	0.01%
HQY	A	0.01%
BSIG	A	0.01%
SWTX	D	0.01%
RHP	B	0.01%
GWRE	A	0.01%
PYCR	C	0.01%
NEXA	C	0.01%
MBLY	C	0.01%
NFBK	B	0.01%
OSUR	D	0.01%
HXL	D	0.01%
KVYO	C	0.01%
MC	B	0.0%
GDOT	C	0.0%
PFBC	B	0.0%
CASH	A	0.0%
TBBK	B	0.0%
PRDO	B	0.0%

SMLF Underweight 384 Positions Relative to VBR

Symbol	Grade	Weight
SW	C	-0.74%
BLDR	D	-0.65%
BAH	C	-0.61%
ATO	A	-0.58%
NRG	B	-0.54%
PNR	B	-0.47%
IEX	B	-0.47%
AES	F	-0.41%
RGA	A	-0.41%
EQH	B	-0.39%
BG	D	-0.39%
EMN	D	-0.38%
REG	B	-0.38%
CPT	D	-0.38%
JLL	C	-0.37%
JNPR	C	-0.37%
FFIV	B	-0.37%
UHS	D	-0.37%
KMX	C	-0.35%
PFGC	B	-0.35%
SJM	F	-0.35%
CHRW	B	-0.35%
TFX	F	-0.34%
IPG	F	-0.34%
BXP	D	-0.33%
HUBB	B	-0.33%
CCK	B	-0.33%
LDOS	A	-0.32%
FBIN	F	-0.32%
ATR	A	-0.31%
EPAM	C	-0.31%
HII	D	-0.3%
LKQ	D	-0.3%
TAP	B	-0.29%
CG	B	-0.29%
PNW	B	-0.29%
AFG	B	-0.29%
ARMK	C	-0.29%
FRT	C	-0.28%
ALLY	C	-0.28%
QRVO	F	-0.28%
Z	B	-0.28%
HSIC	F	-0.27%
STLD	B	-0.27%
WTRG	B	-0.27%
GL	B	-0.27%
INGR	B	-0.26%
MUSA	B	-0.26%
MOS	D	-0.25%
MHK	D	-0.25%
FMC	F	-0.24%
BWA	B	-0.24%
KNX	B	-0.24%
LAD	B	-0.24%
SWN	C	-0.23%
DOC	C	-0.23%
SEIC	A	-0.23%
ADC	B	-0.22%
SNX	C	-0.22%
NI	A	-0.22%
SAIC	B	-0.21%
AAL	B	-0.21%
MTH	D	-0.21%
FLS	B	-0.2%
COHR	B	-0.2%
DVA	C	-0.2%
G	B	-0.2%
UHAL	C	-0.2%
KEX	A	-0.2%
BIO	C	-0.19%
ESNT	D	-0.19%
PB	A	-0.19%
OSK	B	-0.19%
JAZZ	B	-0.19%
EVRG	A	-0.19%
LEA	F	-0.18%
CADE	B	-0.17%
WHR	B	-0.17%
ONB	A	-0.17%
CLF	D	-0.17%
VVV	B	-0.16%
ST	F	-0.16%
COLB	B	-0.16%
KBH	D	-0.16%
AUR	C	-0.16%
ALB	C	-0.16%
SRCL	B	-0.16%
SIGI	B	-0.16%
ALK	A	-0.16%
FNB	A	-0.15%
GBCI	B	-0.15%
SIRI	C	-0.15%
LNC	B	-0.15%
CPRI	F	-0.14%
RIVN	F	-0.14%
AVT	C	-0.14%
THG	A	-0.14%
SUM	B	-0.14%
HOMB	A	-0.14%
ZWS	B	-0.14%
OGN	F	-0.14%
PSN	A	-0.14%
UBSI	B	-0.14%
SBRA	B	-0.13%
MGM	F	-0.13%
NCLH	A	-0.13%
AL	B	-0.13%
KTB	B	-0.13%
WU	F	-0.12%
ABCB	B	-0.12%
GTES	B	-0.12%
SLGN	A	-0.12%
ICUI	C	-0.12%
FUL	F	-0.12%
ESGR	C	-0.11%
ALE	A	-0.11%
PLXS	B	-0.11%
KMPR	A	-0.11%
DXC	B	-0.11%
IAC	F	-0.11%
MTZ	B	-0.11%
VLY	B	-0.11%
PNM	B	-0.11%
HL	D	-0.11%
MGEE	A	-0.1%
ABM	B	-0.1%
ESE	B	-0.1%
AUB	B	-0.1%
AMKR	F	-0.1%
SXT	B	-0.1%
NPO	B	-0.1%
GVA	B	-0.1%
UCB	B	-0.1%
NWE	C	-0.1%
BNL	D	-0.1%
SEM	B	-0.1%
PRIM	B	-0.09%
UNF	B	-0.09%
WSFS	A	-0.09%
APAM	B	-0.09%
AVA	D	-0.09%
CBU	B	-0.09%
COMP	B	-0.09%
AMED	F	-0.09%
BEN	C	-0.09%
BTU	C	-0.09%
EBC	B	-0.09%
APLE	B	-0.09%
SKYW	B	-0.09%
PAG	C	-0.09%
EAT	A	-0.09%
BGC	B	-0.09%
HUBG	B	-0.08%
GHC	B	-0.08%
URBN	C	-0.08%
ATGE	B	-0.08%
POST	D	-0.08%
BHF	B	-0.08%
ABR	B	-0.08%
ADTN	B	-0.08%
REZI	A	-0.08%
CNXC	F	-0.08%
PENN	B	-0.08%
WLK	F	-0.08%
CATY	B	-0.08%
JWN	B	-0.08%
WERN	B	-0.07%
FFBC	B	-0.07%
PFS	B	-0.07%
PECO	B	-0.07%
HAYW	C	-0.07%
AAP	D	-0.07%
AZZ	B	-0.07%
BOKF	B	-0.07%
SMMT	D	-0.07%
INDB	B	-0.07%
ENOV	C	-0.07%
PPBI	B	-0.07%
PRK	B	-0.07%
DBRG	F	-0.07%
HBI	B	-0.07%
AKR	C	-0.07%
CDE	D	-0.07%
MTX	B	-0.07%
GT	C	-0.07%
RNA	B	-0.07%
IOVA	D	-0.07%
FIBK	B	-0.07%
SFNC	B	-0.07%
MGRC	B	-0.07%
BXMT	C	-0.07%
UE	B	-0.07%
RXO	C	-0.06%
GNL	D	-0.06%
NMRK	B	-0.06%
THS	F	-0.06%
RNST	B	-0.06%
INFA	D	-0.06%
IPGP	C	-0.06%
VYX	B	-0.06%
VGR	B	-0.06%
PINC	B	-0.06%
OMCL	C	-0.06%
VSCO	B	-0.06%
KMT	B	-0.06%
CGON	C	-0.06%
LAUR	B	-0.06%
IBTX	B	-0.06%
BANR	B	-0.06%
FRME	A	-0.06%
STRA	C	-0.06%
SXI	B	-0.06%
TOWN	B	-0.06%
ZD	B	-0.06%
ZG	B	-0.06%
AIR	C	-0.06%
CRI	F	-0.06%
MHO	D	-0.06%
MIR	C	-0.06%
PSMT	D	-0.06%
AZTA	D	-0.06%
VRNT	D	-0.05%
CABO	C	-0.05%
HLIO	B	-0.05%
LTC	A	-0.05%
NBHC	B	-0.05%
CRGY	B	-0.05%
ANDE	D	-0.05%
REYN	D	-0.05%
STEP	B	-0.05%
PPC	B	-0.05%
NHC	B	-0.05%
SCL	C	-0.05%
FCF	B	-0.05%
NPAB	F	-0.05%
WSBC	B	-0.05%
UAA	B	-0.05%
SHOO	D	-0.05%
NWBI	B	-0.05%
DRH	B	-0.05%
MLKN	D	-0.05%
TROX	F	-0.05%
WKC	D	-0.05%
LEG	F	-0.05%
TTMI	A	-0.05%
FTRE	D	-0.05%
LZB	C	-0.05%
KAR	A	-0.05%
B	B	-0.05%
IMVT	D	-0.05%
ROIC	A	-0.05%
PBI	B	-0.04%
INSW	F	-0.04%
AAT	C	-0.04%
PMT	F	-0.04%
WABC	B	-0.04%
ARI	D	-0.04%
NNI	C	-0.04%
VCTR	B	-0.04%
WWW	B	-0.04%
COLM	B	-0.04%
SPNT	C	-0.04%
VSAT	F	-0.04%
CSGS	B	-0.04%
WT	B	-0.04%
RRR	F	-0.04%
SBH	C	-0.04%
ALEX	B	-0.04%
VRTS	B	-0.04%
CODI	B	-0.04%
HMN	B	-0.04%
HOPE	B	-0.04%
ESRT	D	-0.04%
LCII	D	-0.04%
GBX	A	-0.04%
JBGS	F	-0.04%
BHE	B	-0.04%
STBA	C	-0.04%
CNK	A	-0.04%
ELME	D	-0.04%
GTY	B	-0.04%
USM	B	-0.03%
SMR	B	-0.03%
CMTG	D	-0.03%
BV	B	-0.03%
LGF.A	C	-0.03%
DNUT	D	-0.03%
MMI	B	-0.03%
JBLU	D	-0.03%
TRS	B	-0.03%
MD	B	-0.03%
CBRL	D	-0.03%
FA	D	-0.03%
ATSG	A	-0.03%
RWT	D	-0.03%
LEVI	F	-0.03%
HTLF	B	-0.03%
SCSC	B	-0.03%
SNDR	A	-0.03%
ECPG	B	-0.03%
FBRT	C	-0.03%
CNNE	B	-0.03%
CSR	C	-0.03%
ETWO	D	-0.03%
AVNS	D	-0.03%
WMK	B	-0.03%
ACT	D	-0.03%
KWR	C	-0.03%
FDP	B	-0.03%
DK	D	-0.03%
SAFT	B	-0.03%
BHLB	B	-0.03%
MYGN	F	-0.03%
MSGE	F	-0.03%
IART	C	-0.03%
LC	A	-0.03%
HTLD	C	-0.02%
ATUS	C	-0.02%
MXL	C	-0.02%
FOR	F	-0.02%
SCHL	D	-0.02%
HY	F	-0.02%
KELYA	F	-0.02%
PCRX	D	-0.02%
TMP	B	-0.02%
BGS	F	-0.02%
MATW	C	-0.02%
PUMP	D	-0.02%
UHAL	C	-0.02%
AXL	C	-0.02%
RGR	F	-0.02%
KOP	D	-0.02%
ECVT	C	-0.02%
AMWD	B	-0.02%
ASTE	B	-0.02%
PRLB	B	-0.02%
MODG	F	-0.02%
SEB	F	-0.02%
PRA	B	-0.02%
HCSG	B	-0.02%
MNRO	B	-0.02%
PRAA	C	-0.02%
FG	B	-0.02%
BRKL	A	-0.02%
EYE	D	-0.02%
LDI	C	-0.01%
BRCC	F	-0.01%
OPK	C	-0.01%
TWKS	B	-0.01%
DJT	D	-0.01%
VREX	C	-0.01%
CENT	C	-0.01%
TGI	B	-0.01%
CMP	D	-0.01%
TRTX	C	-0.01%
SWBI	C	-0.01%
KRO	D	-0.01%
SRCL	B	-0.01%
NAPA	B	-0.01%
CRCT	F	-0.01%
RUSHB	B	-0.01%
WRLD	C	-0.01%
INN	D	-0.01%
BJRI	B	-0.01%
EE	B	-0.01%
RMR	F	-0.01%
GRC	B	-0.01%
PTVE	D	-0.01%
NVRI	F	-0.01%
FWRD	D	-0.01%
NABL	F	-0.01%
CLB	B	-0.01%
CLBK	B	-0.01%
CCO	C	-0.01%
GCMG	B	-0.01%
LGF.A	C	-0.01%
CWH	C	-0.01%
BFS	B	-0.01%
PWSC	C	-0.0%
SCWX	C	-0.0%
AC	B	-0.0%
TASK	C	-0.0%
ACDC	C	-0.0%
LESL	D	-0.0%