SMLF vs. VFQY ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Vanguard U.S. Quality Factor ETF (VFQY)

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

$72.46

Average Daily Volume

70,611

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

VFQY

Vanguard U.S. Quality Factor ETF

VFQY Description

The investment seeks to provide long-term capital appreciation by investing in stocks with strong fundamentals as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with strong fundamentals as determined by the advisor. The portfolio will include a diverse mix of companies representing many different market sectors and industry groups. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$145.31

Average Daily Volume

10,972

Number of Holdings ^*

386

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	VFQY
30 Days	7.55%	2.18%
60 Days	8.72%	2.57%
90 Days	9.84%	2.74%
12 Months	38.08%	26.15%

179 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in VFQY	Overlap
ACAD	C	0.11%	0.1%	0.1%
ACCO	C	0.13%	0.05%	0.05%
AEO	F	0.05%	0.29%	0.05%
AIT	B	0.12%	0.24%	0.12%
ALKS	C	0.3%	0.43%	0.3%
AMR	C	0.14%	0.04%	0.04%
ANF	F	0.3%	0.36%	0.3%
APOG	C	0.11%	0.27%	0.11%
APPF	B	0.06%	0.24%	0.06%
ASO	F	0.06%	0.18%	0.06%
ATEN	A	0.09%	0.12%	0.09%
ATKR	D	0.2%	0.02%	0.02%
AVAV	C	0.05%	0.06%	0.05%
AX	B	0.0%	0.37%	0.0%
AYI	B	0.35%	0.53%	0.35%
AZEK	A	0.06%	0.02%	0.02%
BCC	B	0.22%	0.16%	0.16%
BECN	B	0.1%	0.03%	0.03%
BFH	C	0.0%	0.32%	0.0%
BJ	A	0.16%	0.27%	0.16%
BKE	B	0.12%	0.11%	0.11%
BLD	D	0.21%	0.04%	0.04%
BMI	B	0.16%	0.07%	0.07%
BPOP	C	0.53%	0.4%	0.4%
BRKR	D	0.14%	0.05%	0.05%
CAL	F	0.08%	0.11%	0.08%
CARG	B	0.11%	0.07%	0.07%
CASH	B	0.0%	0.36%	0.0%
CASY	A	0.06%	0.19%	0.06%
CEIX	A	0.07%	0.11%	0.07%
CHCO	B	0.0%	0.17%	0.0%
CHE	D	0.3%	0.3%	0.3%
CNM	D	0.36%	0.26%	0.26%
CNO	B	0.16%	0.39%	0.16%
COKE	C	0.22%	0.32%	0.22%
COUR	F	0.09%	0.02%	0.02%
CPRX	C	0.24%	0.04%	0.04%
CR	A	0.35%	0.21%	0.21%
CRAI	C	0.01%	0.06%	0.01%
CROX	D	0.19%	0.3%	0.19%
CRUS	D	0.11%	0.21%	0.11%
CSL	C	0.41%	0.09%	0.09%
CSWI	B	0.08%	0.17%	0.08%
CUBI	B	0.09%	0.11%	0.09%
CVBF	A	0.05%	0.08%	0.05%
CVLT	B	0.08%	0.49%	0.08%
CXT	C	0.09%	0.02%	0.02%
DCI	B	0.18%	0.44%	0.18%
DECK	A	0.72%	0.33%	0.33%
DFIN	D	0.11%	0.1%	0.1%
DKS	D	0.38%	0.35%	0.35%
DUOL	A	0.44%	0.03%	0.03%
EGBN	B	0.0%	0.02%	0.0%
ELF	C	0.2%	0.09%	0.09%
EME	A	0.94%	0.08%	0.08%
EPAC	C	0.07%	0.17%	0.07%
EXLS	B	0.23%	0.04%	0.04%
EXTR	C	0.17%	0.17%	0.17%
FBP	C	0.0%	0.48%	0.0%
FIX	A	0.44%	0.11%	0.11%
FLO	D	0.06%	0.7%	0.06%
FULT	A	0.0%	0.06%	0.0%
GCO	C	0.07%	0.07%	0.07%
GGG	B	0.3%	0.08%	0.08%
GIII	D	0.02%	0.13%	0.02%
GMS	B	0.08%	0.14%	0.08%
GNRC	C	0.15%	0.03%	0.03%
GOLF	B	0.13%	0.04%	0.04%
GPRO	F	0.02%	0.03%	0.02%
GTLB	B	0.39%	0.13%	0.13%
HAE	C	0.2%	0.04%	0.04%
HAS	D	0.19%	0.25%	0.19%
HNI	B	0.03%	0.13%	0.03%
HWKN	B	0.06%	0.14%	0.06%
ICFI	F	0.1%	0.05%	0.05%
IDT	B	0.04%	0.16%	0.04%
IESC	C	0.03%	0.19%	0.03%
IMKTA	C	0.24%	0.05%	0.05%
IOSP	C	0.04%	0.07%	0.04%
JBL	C	0.55%	0.12%	0.12%
JBSS	F	0.17%	0.13%	0.13%
JXN	C	0.0%	0.29%	0.0%
KAI	B	0.13%	0.1%	0.1%
KD	B	0.06%	0.27%	0.06%
KFRC	D	0.16%	0.2%	0.16%
KRNY	C	0.02%	0.02%	0.02%
LANC	C	0.02%	0.1%	0.02%
LECO	C	0.05%	0.22%	0.05%
LNTH	D	0.17%	0.37%	0.17%
LPX	B	0.41%	0.33%	0.33%
LSCC	D	0.23%	0.09%	0.09%
LSTR	D	0.1%	0.5%	0.1%
M	F	0.19%	0.24%	0.19%
MAN	F	0.04%	0.1%	0.04%
MANH	D	0.5%	0.33%	0.33%
MASI	B	0.08%	0.05%	0.05%
MAT	D	0.12%	0.4%	0.12%
MEDP	D	0.38%	0.22%	0.22%
MLAB	F	0.01%	0.03%	0.01%
MLI	B	0.49%	0.21%	0.21%
MMS	F	0.04%	0.06%	0.04%
MRC	B	0.09%	0.1%	0.09%
MSA	F	0.02%	0.29%	0.02%
MSM	C	0.02%	0.49%	0.02%
MTG	C	0.09%	0.1%	0.09%
NSP	F	0.11%	0.15%	0.11%
NSSC	D	0.08%	0.06%	0.06%
NTB	B	0.07%	0.26%	0.07%
NUS	D	0.02%	0.23%	0.02%
NWL	C	0.02%	0.02%	0.02%
NYT	D	0.12%	0.09%	0.09%
ODP	F	0.11%	0.07%	0.07%
OFG	B	0.0%	0.34%	0.0%
OII	B	0.11%	0.03%	0.03%
OLN	F	0.09%	0.06%	0.06%
OSUR	F	0.01%	0.05%	0.01%
OXM	F	0.06%	0.09%	0.06%
PDCO	F	0.02%	0.12%	0.02%
PEGA	B	0.08%	0.15%	0.08%
PEN	B	0.07%	0.12%	0.07%
PFBC	B	0.0%	0.02%	0.0%
PII	F	0.01%	0.2%	0.01%
POWL	C	0.38%	0.06%	0.06%
PRDO	B	0.0%	0.13%	0.0%
PRI	B	0.28%	0.49%	0.28%
PSTG	D	0.29%	0.16%	0.16%
PVH	C	0.17%	0.17%	0.17%
QLYS	B	0.13%	0.32%	0.13%
RDN	D	0.06%	0.06%	0.06%
REVG	C	0.03%	0.04%	0.03%
RHI	C	0.17%	0.44%	0.17%
RL	C	0.15%	0.39%	0.15%
ROKU	D	0.04%	0.19%	0.04%
RPM	A	0.22%	0.47%	0.22%
RS	B	0.49%	0.1%	0.1%
RYI	C	0.03%	0.02%	0.02%
SCS	C	0.08%	0.15%	0.08%
SFIX	B	0.01%	0.08%	0.01%
SLM	A	0.16%	0.47%	0.16%
SLVM	B	0.02%	0.12%	0.02%
SM	B	0.07%	0.08%	0.07%
SN	D	0.27%	0.03%	0.03%
SOLV	D	0.31%	0.09%	0.09%
SONO	C	0.05%	0.16%	0.05%
SRCE	B	0.16%	0.1%	0.1%
SSD	F	0.14%	0.33%	0.14%
STRL	A	0.29%	0.11%	0.11%
SUPN	C	0.03%	0.09%	0.03%
TBBK	B	0.0%	0.37%	0.0%
TCBI	C	0.03%	0.09%	0.03%
TDC	D	0.01%	0.38%	0.01%
TDOC	C	0.18%	0.16%	0.16%
TILE	B	0.05%	0.12%	0.05%
TNC	D	0.06%	0.03%	0.03%
TNET	F	0.13%	0.18%	0.13%
TPR	B	0.3%	0.23%	0.23%
TREX	C	0.24%	0.2%	0.2%
TTC	C	0.14%	0.2%	0.14%
UDMY	D	0.03%	0.03%	0.03%
UFPI	C	0.23%	0.33%	0.23%
UPBD	B	0.09%	0.03%	0.03%
USNA	C	0.02%	0.06%	0.02%
UTHR	C	0.38%	0.22%	0.22%
UVE	B	0.03%	0.11%	0.03%
VITL	D	0.03%	0.05%	0.03%
VMI	B	0.15%	0.28%	0.15%
VOYA	B	0.17%	0.22%	0.17%
WCC	B	0.2%	0.09%	0.09%
WFRD	D	0.35%	0.22%	0.22%
WLY	B	0.07%	0.32%	0.07%
WMS	F	0.1%	0.2%	0.1%
WTS	B	0.12%	0.15%	0.12%
WTTR	A	0.06%	0.05%	0.05%
XRAY	F	0.2%	0.18%	0.18%
YELP	C	0.06%	0.13%	0.06%
YETI	D	0.08%	0.22%	0.08%
YEXT	B	0.14%	0.07%	0.07%
YOU	D	0.23%	0.22%	0.22%
ZION	B	0.24%	0.32%	0.24%

SMLF Overweight 631 Positions Relative to VFQY

Symbol	Grade	Weight
APP	B	1.49%
EVR	B	0.81%
MSTR	B	0.73%
AXON	A	0.66%
SFM	A	0.6%
ALSN	B	0.56%
NTNX	B	0.56%
SLG	B	0.49%
NVT	B	0.49%
CVNA	B	0.46%
IDA	A	0.46%
IBKR	A	0.45%
COCO	A	0.43%
WSM	C	0.42%
PCOR	B	0.42%
COOP	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%
EWBC	A	0.39%
BRX	A	0.37%
AM	A	0.37%
WING	D	0.36%
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%
MAC	B	0.31%
DDS	B	0.31%
THC	D	0.31%
SPXC	A	0.3%
CORT	B	0.3%
EXE	A	0.29%
TTEK	F	0.29%
R	B	0.28%
AGO	B	0.27%
INTA	B	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%
HURN	C	0.25%
CFR	B	0.25%
TPX	B	0.24%
CBSH	B	0.24%
RMBS	B	0.24%
AN	C	0.24%
SKT	A	0.24%
HALO	F	0.24%
EXEL	B	0.24%
CW	C	0.23%
ENTG	D	0.23%
GAP	C	0.23%
AMG	B	0.23%
SANM	B	0.22%
GPI	B	0.22%
APA	D	0.22%
WS	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	F	0.2%
ETSY	D	0.2%
LIVN	F	0.2%
RDDT	A	0.2%
RRX	B	0.2%
AGCO	D	0.2%
DTM	A	0.2%
DNLI	D	0.2%
BBWI	C	0.2%
TPG	A	0.2%
LUMN	C	0.2%
TEX	F	0.19%
RNG	C	0.19%
SMG	C	0.19%
JOE	F	0.19%
NAVI	F	0.19%
ACM	B	0.19%
GH	B	0.19%
MUR	D	0.19%
RRC	B	0.19%
HLI	A	0.18%
PRGS	A	0.18%
KNSL	B	0.18%
XRX	F	0.18%
ARW	D	0.18%
NDSN	B	0.18%
VCYT	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%
AVNT	B	0.18%
MMYT	B	0.17%
ACLX	C	0.17%
TKR	D	0.17%
LNW	F	0.17%
BRC	D	0.17%
PDM	D	0.17%
PRG	C	0.17%
KRG	B	0.17%
XPO	B	0.17%
AIZ	A	0.17%
PRKS	B	0.17%
SF	B	0.17%
KIM	A	0.16%
IVT	A	0.16%
ALLE	C	0.16%
BL	B	0.16%
WTM	A	0.16%
LRN	A	0.16%
CVCO	A	0.16%
TOL	B	0.16%
GME	C	0.16%
TNL	A	0.16%
AGNC	C	0.16%
FAF	A	0.16%
OMF	A	0.16%
PGRE	F	0.16%
GATX	A	0.15%
LBTYA	F	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
ONTO	F	0.15%
W	D	0.15%
FTAI	A	0.15%
DOCS	C	0.15%
SPB	C	0.15%
ABG	C	0.15%
CWEN	C	0.15%
SKY	A	0.15%
ESI	B	0.15%
UMBF	B	0.14%
RGLD	C	0.14%
ATI	C	0.14%
VSTO	A	0.14%
IGT	F	0.14%
BANF	B	0.14%
MMSI	A	0.14%
NOVT	D	0.14%
IONS	F	0.14%
PI	D	0.14%
CMC	B	0.14%
NJR	A	0.14%
ENSG	C	0.14%
UA	C	0.14%
PCTY	C	0.14%
SCI	B	0.14%
AY	A	0.14%
SPT	C	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%
OGS	A	0.13%
BRZE	C	0.13%
BWXT	B	0.13%
RYAN	A	0.13%
BDN	C	0.13%
SFBS	C	0.13%
FYBR	C	0.13%
NUVL	C	0.13%
AA	A	0.13%
SR	A	0.12%
INSP	D	0.12%
AROC	A	0.12%
AWR	B	0.12%
SAIA	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	B	0.12%
SATS	D	0.12%
ACLS	F	0.12%
OGE	A	0.12%
GFF	A	0.12%
WH	B	0.12%
KRC	B	0.12%
WEN	D	0.12%
NOV	C	0.12%
CBT	D	0.12%
BSY	F	0.12%
WAFD	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%
LOVE	A	0.11%
CUBE	C	0.11%
MFA	D	0.11%
HTH	C	0.11%
SPSC	D	0.11%
BAND	B	0.11%
CHX	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%
ASB	B	0.1%
CHDN	B	0.1%
HP	C	0.1%
ACA	A	0.1%
DNOW	B	0.1%
EXPI	D	0.1%
PNFP	B	0.1%
IVZ	B	0.1%
UGI	C	0.1%
CRDO	B	0.1%
VECO	F	0.1%
CRC	A	0.1%
NNN	C	0.1%
HUN	F	0.1%
HOV	D	0.1%
SYNA	C	0.1%
X	B	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
AGM	B	0.1%
WAL	B	0.1%
KLIC	B	0.1%
BERY	C	0.1%
INSM	C	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
EEFT	B	0.09%
VSH	F	0.09%
MTSI	B	0.09%
WSC	F	0.09%
PHIN	A	0.09%
JACK	C	0.09%
MTN	C	0.09%
PCVX	D	0.09%
HEES	C	0.09%
APG	B	0.09%
PBH	A	0.09%
HI	C	0.09%
LGND	C	0.09%
CAR	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
IDCC	B	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%
DVAX	C	0.09%
AMLX	C	0.09%
WEX	D	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%
VIR	D	0.08%
FLR	B	0.08%
RGEN	D	0.08%
OZK	B	0.08%
ELAN	D	0.08%
MKSI	C	0.08%
OSCR	D	0.08%
FHB	B	0.08%
PD	C	0.08%
KN	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%
CARS	C	0.08%
MIDD	C	0.08%
BDC	C	0.08%
ALV	C	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%
AMRX	C	0.07%
EYPT	D	0.07%
WYNN	C	0.07%
MATV	D	0.07%
VAC	C	0.07%
RIG	D	0.07%
AMPH	F	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	B	0.07%
FLNC	D	0.07%
NBR	C	0.07%
GKOS	B	0.07%
DOMO	B	0.07%
ASH	F	0.07%
KNF	B	0.07%
PLUS	F	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%
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%
TRN	B	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%
LADR	B	0.06%
NSIT	F	0.06%
SOFI	B	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
BCO	F	0.06%
SFL	D	0.06%
AIV	C	0.06%
ADMA	B	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
MED	D	0.06%
FOLD	F	0.05%
ITGR	B	0.05%
SNV	C	0.05%
ACI	C	0.05%
FFIN	B	0.05%
PZZA	F	0.05%
ITRI	C	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
BEAM	D	0.05%
SITE	F	0.05%
CERS	D	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%
VNT	C	0.05%
THR	B	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%
CENTA	C	0.05%
ARWR	D	0.04%
FCN	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%
OUT	A	0.04%
DIN	C	0.04%
PRGO	C	0.04%
LPG	F	0.04%
FLYW	B	0.04%
AGS	A	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%
AGYS	A	0.04%
ARRY	F	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%
ACHC	F	0.04%
HSTM	B	0.04%
FHN	A	0.04%
BCPC	B	0.04%
TDS	B	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	C	0.03%
AXTA	B	0.03%
GMED	A	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%
CHRD	D	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%
CIEN	C	0.03%
VIRT	A	0.03%
QDEL	F	0.03%
SNBR	F	0.03%
CHWY	B	0.03%
ARCH	B	0.03%
SLAB	F	0.03%
BRSP	C	0.03%
CDP	C	0.03%
MGNI	B	0.03%
AMN	F	0.03%
ACCD	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%
RLI	A	0.03%
RKT	F	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	F	0.03%
BKD	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%
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%
SAFE	F	0.02%
KFY	B	0.02%
JELD	F	0.02%
EDR	A	0.02%
DAN	D	0.02%
DOCN	C	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
EPR	C	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	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%
PTCT	B	0.02%
ARCB	C	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%
JAMF	F	0.01%
PCH	F	0.01%
EPC	F	0.01%
POWI	F	0.01%
FLWS	D	0.01%
XPRO	D	0.01%
MBC	F	0.01%
BIGC	B	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%
SWI	C	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	B	0.01%
TR	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%
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%
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%
HAIN	D	0.01%
SWTX	C	0.01%
KALU	C	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%
MC	C	0.0%
SEE	C	0.0%
GDOT	D	0.0%
NBTB	B	0.0%
EIG	B	0.0%
BOH	B	0.0%
DEI	B	0.0%
TRMK	C	0.0%
GNW	A	0.0%
UNM	A	0.0%
BKU	A	0.0%
CMA	B	0.0%

SMLF Underweight 207 Positions Relative to VFQY

Symbol	Grade	Weight
NKE	F	-2.14%
GILD	C	-2.1%
MMM	D	-2.1%
AAPL	C	-2.03%
TGT	F	-1.91%
QCOM	F	-1.88%
LULU	C	-1.81%
WMT	A	-1.74%
TJX	A	-1.74%
MRK	D	-1.69%
KLAC	F	-1.63%
KMB	C	-1.62%
ADBE	C	-1.6%
CTAS	B	-1.58%
PEP	F	-1.54%
JNJ	C	-1.38%
AXP	A	-1.37%
PYPL	B	-1.29%
COST	A	-1.16%
AMZN	C	-1.12%
META	D	-1.0%
IDXX	F	-0.78%
CHRW	B	-0.73%
PAYX	B	-0.63%
EQH	C	-0.61%
AMP	A	-0.57%
FAST	B	-0.55%
NVDA	B	-0.53%
STT	B	-0.53%
BBY	D	-0.5%
AMAT	F	-0.49%
NTAP	C	-0.49%
KR	B	-0.46%
AFL	B	-0.46%
AIG	B	-0.44%
BLDR	D	-0.44%
EBAY	D	-0.43%
POOL	C	-0.42%
VRT	B	-0.39%
EXPE	B	-0.38%
KVUE	A	-0.37%
CAT	B	-0.36%
GWW	B	-0.35%
ECL	D	-0.34%
IT	C	-0.34%
NTRS	A	-0.33%
GL	C	-0.33%
MPWR	F	-0.32%
TPL	A	-0.31%
WSFS	B	-0.31%
EL	F	-0.3%
ROK	C	-0.3%
EA	A	-0.29%
DLTR	F	-0.29%
CDNS	B	-0.28%
AOS	F	-0.28%
LMB	B	-0.28%
SYF	B	-0.28%
SKX	D	-0.27%
BR	A	-0.26%
AVY	F	-0.26%
ADSK	A	-0.26%
HIG	B	-0.26%
ULTA	F	-0.24%
LLY	F	-0.24%
BBW	C	-0.24%
A	D	-0.23%
HSY	F	-0.22%
CFG	B	-0.22%
BLBD	D	-0.22%
SHOO	F	-0.21%
EXPD	C	-0.21%
GPC	D	-0.21%
CPNG	D	-0.21%
BWA	D	-0.2%
WDFC	B	-0.2%
SAM	C	-0.2%
LOPE	C	-0.2%
CRVL	B	-0.19%
PJT	A	-0.19%
PPG	F	-0.19%
BBSI	B	-0.18%
TK	D	-0.17%
ROL	B	-0.17%
NMIH	C	-0.17%
PLMR	A	-0.16%
MA	B	-0.16%
RMD	C	-0.16%
GOOGL	C	-0.16%
ILMN	C	-0.16%
ADP	A	-0.16%
JKHY	D	-0.16%
MPC	D	-0.15%
INGR	C	-0.15%
BXC	B	-0.15%
PLAB	C	-0.15%
FIZZ	C	-0.15%
COR	B	-0.14%
WHD	B	-0.14%
HCKT	B	-0.14%
MOH	F	-0.14%
EOG	A	-0.14%
BOKF	B	-0.14%
FFIV	B	-0.14%
BELFB	C	-0.13%
FC	F	-0.13%
FELE	B	-0.13%
CHGG	C	-0.13%
AON	A	-0.13%
CCRN	F	-0.12%
CSGS	B	-0.12%
CPF	B	-0.12%
INDB	B	-0.12%
WABC	B	-0.12%
XP	F	-0.12%
CMI	A	-0.12%
BHF	C	-0.11%
CATY	B	-0.11%
PCRX	C	-0.11%
INCY	C	-0.11%
NVR	D	-0.11%
TXG	F	-0.11%
PRMW	C	-0.11%
MCRI	A	-0.1%
PFGC	B	-0.1%
ODFL	C	-0.1%
THRY	D	-0.1%
MBUU	B	-0.1%
SPTN	D	-0.1%
TER	F	-0.1%
LCII	C	-0.1%
PINS	F	-0.1%
DXC	B	-0.09%
BHLB	B	-0.09%
RSI	A	-0.09%
PSMT	D	-0.09%
SPOT	B	-0.09%
CBU	B	-0.09%
LZB	B	-0.09%
SEIC	B	-0.08%
ENPH	F	-0.08%
CRCT	F	-0.08%
ETD	C	-0.08%
ARLO	C	-0.08%
MLKN	F	-0.08%
ROST	D	-0.08%
CDRE	F	-0.08%
AMSF	B	-0.08%
CDW	F	-0.08%
EGY	D	-0.08%
UAA	C	-0.08%
SBSI	C	-0.07%
ANIP	F	-0.07%
MCO	B	-0.07%
AAP	D	-0.07%
AMAL	B	-0.07%
ACT	C	-0.07%
CDNA	D	-0.07%
EYE	C	-0.07%
VRTS	B	-0.07%
PRLB	B	-0.07%
CNXN	C	-0.07%
ASC	F	-0.07%
DHIL	B	-0.07%
ZEUS	C	-0.06%
APAM	B	-0.06%
LYTS	B	-0.06%
MUSA	B	-0.06%
STLD	B	-0.06%
MYGN	F	-0.06%
HOLX	D	-0.06%
DAKT	C	-0.06%
EVER	D	-0.06%
PG	C	-0.06%
ALGN	D	-0.05%
HVT	D	-0.05%
TRIP	F	-0.05%
TTI	B	-0.05%
SCHL	F	-0.04%
ORGO	B	-0.04%
TH	C	-0.04%
UTI	B	-0.04%
MCFT	C	-0.04%
HY	D	-0.04%
LQDT	B	-0.04%
SNA	A	-0.04%
SXI	B	-0.04%
MBIN	F	-0.04%
HNST	A	-0.04%
OEC	C	-0.04%
CTS	C	-0.04%
TNK	F	-0.04%
KELYA	F	-0.03%
SXC	A	-0.03%
FBIN	D	-0.03%
MOV	D	-0.03%
HAFC	B	-0.03%
BKNG	A	-0.03%
ANGO	C	-0.03%
TBI	F	-0.03%
MYE	F	-0.03%
TCBK	C	-0.02%
PLOW	D	-0.02%
INGN	C	-0.02%
RGP	F	-0.02%
TCMD	B	-0.02%
LKFN	C	-0.02%