SMMD vs. IWS ETF Comparison

Comparison of iShares Russell 2500 ETF (SMMD) to iShares Russell Mid-cap Value ETF (IWS)

SMMD

iShares Russell 2500 ETF

SMMD Description

The investment seeks to track the investment results of the Russell 2500TM Index. The fund generally will invest at least 90% of its assets in the component securities, including indirect investments through the underlying fund, of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. The underlying index measures the performance of the small- to mid-capitalization sector of the U.S. equity market, as defined by FTSE Russell.

Grade (RS Rating)

Last Trade

$67.52

Average Daily Volume

75,371

Number of Holdings ^*

497

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. 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. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$131.46

Average Daily Volume

286,589

Number of Holdings ^*

706

* may have additional holdings in another (foreign) market

Performance

Period	SMMD	IWS
30 Days	3.62%	3.11%
60 Days	9.42%	9.24%
90 Days	9.04%	10.48%
12 Months	27.30%	31.20%

448 Overlapping Holdings

Symbol	Grade	Weight in SMMD	Weight in IWS	Overlap
AA	B	0.16%	0.11%	0.11%
AAL	D	0.12%	0.08%	0.08%
AAP	F	0.04%	0.03%	0.03%
ACHC	F	0.11%	0.06%	0.06%
ACI	F	0.12%	0.09%	0.09%
ACM	A	0.22%	0.16%	0.16%
ADC	C	0.12%	0.08%	0.08%
ADT	D	0.03%	0.02%	0.02%
AFG	A	0.16%	0.11%	0.11%
AFRM	C	0.15%	0.1%	0.1%
AGCO	D	0.1%	0.07%	0.07%
AGNC	B	0.12%	0.09%	0.09%
AGO	B	0.07%	0.05%	0.05%
AIZ	B	0.16%	0.12%	0.12%
AL	D	0.07%	0.05%	0.05%
ALAB	C	0.02%	0.01%	0.01%
ALGM	F	0.05%	0.03%	0.03%
ALK	C	0.09%	0.06%	0.06%
ALLE	A	0.2%	0.14%	0.14%
ALLY	F	0.15%	0.09%	0.09%
ALSN	A	0.13%	0.1%	0.1%
AM	A	0.08%	0.04%	0.04%
AMED	D	0.05%	0.03%	0.03%
AMG	B	0.09%	0.06%	0.06%
AMH	D	0.21%	0.14%	0.14%
AMKR	F	0.06%	0.04%	0.04%
AN	D	0.07%	0.05%	0.05%
AOS	C	0.17%	0.12%	0.12%
APA	F	0.13%	0.1%	0.1%
APG	F	0.12%	0.08%	0.08%
AR	C	0.13%	0.09%	0.09%
ARMK	C	0.16%	0.11%	0.11%
ARW	C	0.11%	0.08%	0.08%
AS	B	0.01%	0.01%	0.01%
ASH	F	0.07%	0.05%	0.05%
ATI	C	0.13%	0.09%	0.09%
ATR	A	0.17%	0.12%	0.12%
AVT	B	0.08%	0.05%	0.05%
AVY	D	0.28%	0.12%	0.12%
AWI	A	0.09%	0.04%	0.04%
AXS	A	0.1%	0.07%	0.07%
AXTA	C	0.13%	0.09%	0.09%
AYI	A	0.13%	0.1%	0.1%
AZEK	D	0.11%	0.02%	0.02%
AZPN	A	0.1%	0.07%	0.07%
AZTA	F	0.04%	0.03%	0.03%
BBWI	F	0.11%	0.08%	0.08%
BC	C	0.09%	0.06%	0.06%
BERY	C	0.13%	0.09%	0.09%
BFAM	C	0.13%	0.08%	0.08%
BHF	D	0.04%	0.03%	0.03%
BILL	D	0.09%	0.04%	0.04%
BIO	B	0.1%	0.07%	0.07%
BIRK	F	0.03%	0.02%	0.02%
BJ	B	0.17%	0.13%	0.13%
BLD	D	0.2%	0.13%	0.13%
BOKF	B	0.04%	0.03%	0.03%
BPOP	D	0.11%	0.07%	0.07%
BRBR	A	0.13%	0.09%	0.09%
BRKR	D	0.12%	0.03%	0.03%
BROS	F	0.06%	0.02%	0.02%
BRX	C	0.13%	0.09%	0.09%
BWA	C	0.13%	0.09%	0.09%
BWXT	A	0.16%	0.09%	0.09%
BXP	B	0.2%	0.14%	0.14%
BYD	B	0.07%	0.05%	0.05%
CACC	F	0.04%	0.01%	0.01%
CACI	A	0.17%	0.12%	0.12%
CAR	D	0.02%	0.01%	0.01%
CART	B	0.11%	0.08%	0.08%
CASY	D	0.22%	0.13%	0.13%
CBSH	D	0.11%	0.08%	0.08%
CC	D	0.05%	0.03%	0.03%
CCCS	D	0.08%	0.06%	0.06%
CCK	C	0.18%	0.13%	0.13%
CERT	F	0.02%	0.02%	0.02%
CFR	B	0.11%	0.07%	0.07%
CG	B	0.15%	0.11%	0.11%
CGNX	F	0.11%	0.07%	0.07%
CHE	D	0.14%	0.09%	0.09%
CHH	A	0.06%	0.01%	0.01%
CHK	C	0.17%	0.21%	0.17%
CHRD	F	0.12%	0.09%	0.09%
CHRW	C	0.2%	0.14%	0.14%
CIEN	A	0.14%	0.1%	0.1%
CIVI	F	0.08%	0.04%	0.04%
CLF	D	0.09%	0.05%	0.05%
CLH	B	0.2%	0.14%	0.14%
CLVT	D	0.04%	0.03%	0.03%
CMA	C	0.12%	0.09%	0.09%
CNM	F	0.14%	0.03%	0.03%
CNXC	F	0.04%	0.03%	0.03%
COHR	B	0.19%	0.13%	0.13%
COKE	C	0.12%	0.09%	0.09%
COLB	C	0.09%	0.06%	0.06%
COLD	D	0.13%	0.09%	0.09%
COLM	B	0.04%	0.03%	0.03%
COTY	F	0.06%	0.04%	0.04%
CPRI	C	0.07%	0.05%	0.05%
CPT	C	0.2%	0.14%	0.14%
CR	A	0.12%	0.09%	0.09%
CRI	D	0.04%	0.03%	0.03%
CRL	F	0.16%	0.11%	0.11%
CROX	C	0.14%	0.08%	0.08%
CRUS	D	0.1%	0.07%	0.07%
CTLT	A	0.17%	0.12%	0.12%
CUBE	C	0.19%	0.13%	0.13%
CUZ	C	0.07%	0.05%	0.05%
CVNA	A	0.29%	0.14%	0.14%
CW	A	0.2%	0.14%	0.14%
CWEN	C	0.02%	0.01%	0.01%
CWEN	C	0.02%	0.03%	0.02%
CWEN	C	0.04%	0.01%	0.01%
CWEN	C	0.04%	0.03%	0.03%
CXT	F	0.04%	0.03%	0.03%
CZR	B	0.14%	0.1%	0.1%
DAR	F	0.09%	0.07%	0.07%
DAY	C	0.14%	0.09%	0.09%
DBX	C	0.1%	0.05%	0.05%
DCI	B	0.14%	0.1%	0.1%
DDS	D	0.02%	0.01%	0.01%
DINO	F	0.11%	0.08%	0.08%
DJT	F	0.01%	0.0%	0.0%
DKS	D	0.19%	0.12%	0.12%
DLB	D	0.07%	0.05%	0.05%
DNB	D	0.05%	0.04%	0.04%
DOCS	A	0.08%	0.05%	0.05%
DOX	B	0.16%	0.11%	0.11%
DTM	A	0.12%	0.09%	0.09%
DV	F	0.04%	0.01%	0.01%
DXC	C	0.06%	0.04%	0.04%
EEFT	F	0.07%	0.05%	0.05%
EG	A	0.26%	0.16%	0.16%
EGP	D	0.14%	0.1%	0.1%
EHC	C	0.15%	0.11%	0.11%
ELAN	D	0.11%	0.08%	0.08%
ELS	D	0.21%	0.15%	0.15%
EME	B	0.32%	0.14%	0.14%
ENOV	F	0.04%	0.03%	0.03%
EPR	C	0.06%	0.04%	0.04%
EQT	C	0.33%	0.22%	0.22%
ESAB	C	0.1%	0.07%	0.07%
ESI	C	0.1%	0.07%	0.07%
ETSY	F	0.1%	0.02%	0.02%
EVR	C	0.15%	0.1%	0.1%
EWBC	B	0.18%	0.12%	0.12%
EXAS	C	0.2%	0.08%	0.08%
EXEL	B	0.12%	0.01%	0.01%
EXP	C	0.15%	0.03%	0.03%
FAF	C	0.1%	0.07%	0.07%
FBIN	C	0.17%	0.12%	0.12%
FCN	C	0.13%	0.09%	0.09%
FDS	C	0.28%	0.13%	0.13%
FFIV	B	0.2%	0.14%	0.14%
FHB	D	0.05%	0.03%	0.03%
FHN	D	0.13%	0.09%	0.09%
FIVE	D	0.08%	0.01%	0.01%
FLO	D	0.07%	0.05%	0.05%
FLS	A	0.11%	0.08%	0.08%
FMC	C	0.13%	0.09%	0.09%
FNB	D	0.08%	0.05%	0.05%
FND	C	0.2%	0.09%	0.09%
FR	D	0.12%	0.08%	0.08%
FRPT	A	0.1%	0.05%	0.05%
FRT	D	0.15%	0.1%	0.1%
FTI	B	0.17%	0.13%	0.13%
FTRE	F	0.02%	0.02%	0.02%
FYBR	C	0.14%	0.1%	0.1%
G	A	0.11%	0.08%	0.08%
GAP	F	0.07%	0.05%	0.05%
GEN	A	0.23%	0.17%	0.17%
GGG	C	0.23%	0.16%	0.16%
GL	C	0.15%	0.1%	0.1%
GLOB	D	0.13%	0.02%	0.02%
GLPI	C	0.21%	0.15%	0.15%
GME	D	0.13%	0.09%	0.09%
GMED	B	0.13%	0.09%	0.09%
GNRC	B	0.14%	0.05%	0.05%
GNTX	D	0.11%	0.08%	0.08%
GO	F	0.03%	0.02%	0.02%
GPK	D	0.14%	0.1%	0.1%
GTES	C	0.06%	0.04%	0.04%
GWRE	A	0.23%	0.09%	0.09%
GXO	D	0.1%	0.07%	0.07%
H	B	0.11%	0.06%	0.06%
HAS	A	0.16%	0.01%	0.01%
HAYW	C	0.03%	0.02%	0.02%
HCP	A	0.08%	0.01%	0.01%
HHH	C	0.04%	0.03%	0.03%
HII	F	0.16%	0.12%	0.12%
HIW	C	0.05%	0.04%	0.04%
HLI	A	0.13%	0.09%	0.09%
HOG	D	0.07%	0.05%	0.05%
HOOD	B	0.24%	0.17%	0.17%
HR	D	0.11%	0.08%	0.08%
HRB	C	0.14%	0.08%	0.08%
HSIC	D	0.14%	0.1%	0.1%
HST	D	0.2%	0.14%	0.14%
HUN	B	0.06%	0.04%	0.04%
HXL	F	0.08%	0.06%	0.06%
IAC	C	0.06%	0.04%	0.04%
IDA	D	0.08%	0.06%	0.06%
INFA	D	0.03%	0.02%	0.02%
INGR	B	0.14%	0.1%	0.1%
IONS	F	0.1%	0.01%	0.01%
IPG	D	0.19%	0.13%	0.13%
IPGP	D	0.03%	0.02%	0.02%
IRDM	C	0.06%	0.04%	0.04%
ITT	C	0.2%	0.14%	0.14%
IVZ	A	0.1%	0.07%	0.07%
JAZZ	F	0.11%	0.08%	0.08%
JBL	C	0.22%	0.14%	0.14%
JEF	A	0.17%	0.09%	0.09%
JHG	A	0.08%	0.05%	0.05%
JKHY	A	0.2%	0.15%	0.15%
JLL	C	0.2%	0.1%	0.1%
JNPR	C	0.2%	0.14%	0.14%
JWN	D	0.04%	0.02%	0.02%
KBR	A	0.14%	0.09%	0.09%
KD	D	0.08%	0.06%	0.06%
KEX	C	0.11%	0.08%	0.08%
KIM	C	0.24%	0.17%	0.17%
KMPR	D	0.06%	0.04%	0.04%
KNX	D	0.13%	0.09%	0.09%
KRC	C	0.07%	0.05%	0.05%
KSS	D	0.04%	0.03%	0.03%
LAD	C	0.14%	0.1%	0.1%
LAMR	C	0.18%	0.1%	0.1%
LAZ	C	0.09%	0.0%	0.0%
LBRDA	C	0.02%	0.01%	0.01%
LBRDK	C	0.13%	0.07%	0.07%
LBTYA	C	0.06%	0.04%	0.04%
LBTYK	C	0.06%	0.04%	0.04%
LCID	F	0.05%	0.03%	0.03%
LEA	F	0.1%	0.07%	0.07%
LECO	D	0.17%	0.08%	0.08%
LEG	D	0.03%	0.02%	0.02%
LFUS	C	0.1%	0.07%	0.07%
LITE	A	0.07%	0.05%	0.05%
LLYVA	B	0.02%	0.01%	0.01%
LLYVK	B	0.04%	0.03%	0.03%
LNC	B	0.08%	0.06%	0.06%
LOAR	B	0.01%	0.0%	0.0%
LOPE	D	0.07%	0.03%	0.03%
LPX	C	0.11%	0.02%	0.02%
LSCC	D	0.12%	0.01%	0.01%
LSTR	F	0.11%	0.07%	0.07%
LYFT	D	0.08%	0.02%	0.02%
M	D	0.07%	0.05%	0.05%
MAN	D	0.05%	0.04%	0.04%
MASI	B	0.09%	0.03%	0.03%
MAT	B	0.1%	0.07%	0.07%
MDU	C	0.09%	0.06%	0.06%
MHK	C	0.13%	0.09%	0.09%
MIDD	D	0.12%	0.08%	0.08%
MKSI	F	0.12%	0.07%	0.07%
MKTX	B	0.15%	0.11%	0.11%
MOS	F	0.13%	0.1%	0.1%
MP	C	0.04%	0.03%	0.03%
MPW	C	0.06%	0.04%	0.04%
MSA	F	0.11%	0.07%	0.07%
MSGS	A	0.06%	0.04%	0.04%
MSM	D	0.06%	0.04%	0.04%
MTCH	B	0.15%	0.11%	0.11%
MTDR	D	0.09%	0.06%	0.06%
MTG	A	0.11%	0.07%	0.07%
MTN	D	0.11%	0.01%	0.01%
MTSI	B	0.1%	0.07%	0.07%
MTZ	A	0.12%	0.09%	0.09%
NCNO	F	0.04%	0.01%	0.01%
NDSN	C	0.23%	0.17%	0.17%
NEU	F	0.06%	0.04%	0.04%
NFE	F	0.01%	0.0%	0.0%
NFG	A	0.09%	0.06%	0.06%
NI	A	0.24%	0.18%	0.18%
NLY	C	0.16%	0.11%	0.11%
NNN	C	0.14%	0.1%	0.1%
NOV	F	0.1%	0.07%	0.07%
NRG	A	0.3%	0.13%	0.13%
NSA	D	0.05%	0.04%	0.04%
NTNX	C	0.24%	0.11%	0.11%
NVST	D	0.05%	0.04%	0.04%
NVT	C	0.19%	0.13%	0.13%
NWL	D	0.05%	0.04%	0.04%
NWS	D	0.05%	0.04%	0.04%
NWSA	D	0.16%	0.11%	0.11%
NXST	D	0.08%	0.04%	0.04%
NYT	C	0.14%	0.1%	0.1%
OC	C	0.24%	0.17%	0.17%
OGE	C	0.13%	0.09%	0.09%
OGN	F	0.08%	0.05%	0.05%
OHI	C	0.16%	0.11%	0.11%
OLED	B	0.15%	0.05%	0.05%
OLLI	C	0.1%	0.07%	0.07%
OLN	D	0.09%	0.06%	0.06%
OMF	D	0.08%	0.06%	0.06%
ONTO	B	0.17%	0.08%	0.08%
ORI	A	0.14%	0.1%	0.1%
OSK	F	0.1%	0.07%	0.07%
OVV	D	0.15%	0.12%	0.12%
OZK	D	0.07%	0.05%	0.05%
PAG	D	0.05%	0.03%	0.03%
PARA	F	0.1%	0.07%	0.07%
PARAA	D	0.0%	0.0%	0.0%
PATH	D	0.09%	0.01%	0.01%
PB	D	0.1%	0.07%	0.07%
PENN	D	0.05%	0.03%	0.03%
PFGC	A	0.19%	0.12%	0.12%
PII	D	0.07%	0.05%	0.05%
PINC	F	0.03%	0.02%	0.02%
PK	D	0.05%	0.03%	0.03%
PKG	B	0.3%	0.21%	0.21%
PLNT	B	0.12%	0.04%	0.04%
PLTK	C	0.01%	0.01%	0.01%
PNFP	B	0.12%	0.08%	0.08%
PNR	C	0.26%	0.18%	0.18%
PNW	C	0.16%	0.12%	0.12%
POST	C	0.09%	0.06%	0.06%
PPC	C	0.03%	0.02%	0.02%
PR	D	0.14%	0.08%	0.08%
PRGO	F	0.06%	0.04%	0.04%
PRI	A	0.15%	0.1%	0.1%
PSN	A	0.08%	0.05%	0.05%
PSTG	F	0.25%	0.02%	0.02%
PVH	D	0.09%	0.06%	0.06%
PYCR	D	0.02%	0.01%	0.01%
QDEL	D	0.04%	0.03%	0.03%
QRVO	F	0.16%	0.11%	0.11%
QS	F	0.03%	0.02%	0.02%
R	C	0.1%	0.07%	0.07%
RBC	C	0.14%	0.1%	0.1%
RCM	B	0.04%	0.02%	0.02%
REG	C	0.21%	0.15%	0.15%
REXR	D	0.17%	0.12%	0.12%
REYN	D	0.03%	0.02%	0.02%
RGA	B	0.23%	0.16%	0.16%
RGEN	F	0.13%	0.08%	0.08%
RGLD	C	0.15%	0.1%	0.1%
RH	C	0.08%	0.05%	0.05%
RHI	D	0.11%	0.08%	0.08%
RITM	D	0.09%	0.06%	0.06%
RIVN	F	0.15%	0.1%	0.1%
RL	B	0.13%	0.09%	0.09%
RLI	A	0.1%	0.07%	0.07%
RNR	A	0.22%	0.16%	0.16%
ROIV	D	0.08%	0.05%	0.05%
ROKU	C	0.15%	0.09%	0.09%
RPM	A	0.25%	0.13%	0.13%
RRC	D	0.11%	0.08%	0.08%
RRX	B	0.18%	0.12%	0.12%
RS	D	0.26%	0.19%	0.19%
RYN	C	0.07%	0.05%	0.05%
S	C	0.1%	0.06%	0.06%
SAIA	D	0.18%	0.05%	0.05%
SAIC	A	0.11%	0.08%	0.08%
SAM	D	0.04%	0.02%	0.02%
SCI	D	0.18%	0.13%	0.13%
SEB	F	0.01%	0.01%	0.01%
SEE	C	0.08%	0.03%	0.03%
SEG	F	0.0%	0.0%	0.0%
SEIC	B	0.11%	0.08%	0.08%
SF	A	0.15%	0.1%	0.1%
SHC	C	0.04%	0.03%	0.03%
SITE	D	0.11%	0.05%	0.05%
SKX	B	0.14%	0.09%	0.09%
SLGN	B	0.07%	0.05%	0.05%
SLM	B	0.08%	0.05%	0.05%
SMG	C	0.06%	0.04%	0.04%
SN	A	0.11%	0.06%	0.06%
SNA	C	0.24%	0.17%	0.17%
SNDR	D	0.02%	0.01%	0.01%
SNV	D	0.1%	0.07%	0.07%
SNX	C	0.14%	0.1%	0.1%
SOFI	C	0.13%	0.07%	0.07%
SON	D	0.09%	0.06%	0.06%
SPB	C	0.04%	0.03%	0.03%
SPR	D	0.06%	0.04%	0.04%
SRCL	B	0.09%	0.06%	0.06%
SSD	B	0.13%	0.08%	0.08%
ST	F	0.09%	0.06%	0.06%
STAG	D	0.11%	0.08%	0.08%
STWD	C	0.1%	0.07%	0.07%
SW	C	0.41%	0.28%	0.28%
TECH	D	0.19%	0.14%	0.14%
TFSL	D	0.01%	0.01%	0.01%
TFX	C	0.18%	0.13%	0.13%
THC	D	0.25%	0.17%	0.17%
THG	A	0.08%	0.06%	0.06%
THO	C	0.09%	0.06%	0.06%
TKO	A	0.15%	0.09%	0.09%
TKR	B	0.09%	0.06%	0.06%
TNL	B	0.05%	0.03%	0.03%
TOL	C	0.24%	0.18%	0.18%
TPG	A	0.08%	0.04%	0.04%
TPR	B	0.17%	0.12%	0.12%
TRIP	D	0.02%	0.02%	0.02%
TTC	F	0.14%	0.1%	0.1%
TTEK	A	0.2%	0.11%	0.11%
TXG	F	0.04%	0.01%	0.01%
TXT	F	0.26%	0.18%	0.18%
U	D	0.11%	0.04%	0.04%
UA	B	0.03%	0.02%	0.02%
UAA	B	0.03%	0.02%	0.02%
UGI	C	0.08%	0.06%	0.06%
UHAL	C	0.01%	0.0%	0.0%
UHAL	C	0.11%	0.0%	0.0%
UHAL	C	0.01%	0.05%	0.01%
UHAL	C	0.11%	0.05%	0.05%
UHS	D	0.22%	0.15%	0.15%
UI	B	0.01%	0.01%	0.01%
UNM	A	0.16%	0.12%	0.12%
USFD	C	0.23%	0.16%	0.16%
UTHR	C	0.25%	0.18%	0.18%
UWMC	D	0.01%	0.0%	0.0%
VAC	D	0.04%	0.03%	0.03%
VFC	A	0.11%	0.08%	0.08%
VIRT	B	0.04%	0.03%	0.03%
VMI	B	0.09%	0.06%	0.06%
VNO	B	0.11%	0.08%	0.08%
VNOM	A	0.07%	0.04%	0.04%
VNT	F	0.08%	0.06%	0.06%
VOYA	A	0.13%	0.09%	0.09%
VSTS	D	0.03%	0.02%	0.02%
W	C	0.08%	0.06%	0.06%
WAL	C	0.15%	0.1%	0.1%
WBS	D	0.12%	0.09%	0.09%
WCC	D	0.12%	0.08%	0.08%
WEN	B	0.05%	0.02%	0.02%
WEX	C	0.13%	0.09%	0.09%
WH	C	0.1%	0.06%	0.06%
WHR	C	0.09%	0.06%	0.06%
WMS	D	0.17%	0.08%	0.08%
WOLF	F	0.02%	0.01%	0.01%
WSC	D	0.12%	0.05%	0.05%
WSO	C	0.27%	0.19%	0.19%
WTFC	B	0.11%	0.08%	0.08%
WTM	C	0.07%	0.05%	0.05%
WTRG	D	0.15%	0.11%	0.11%
WU	D	0.05%	0.03%	0.03%
WWD	C	0.16%	0.11%	0.11%
WYNN	B	0.15%	0.11%	0.11%
X	F	0.13%	0.09%	0.09%
XRAY	D	0.08%	0.06%	0.06%
YETI	C	0.05%	0.03%	0.03%
Z	C	0.16%	0.12%	0.12%
ZG	C	0.05%	0.03%	0.03%
ZI	F	0.05%	0.04%	0.04%
ZION	D	0.11%	0.07%	0.07%

SMMD Overweight 53 Positions Relative to IWS

Symbol	Grade	Weight
IWM	B	41.59%
LII	C	0.31%
MANH	A	0.28%
TPL	A	0.26%
DT	B	0.25%
POOL	D	0.22%
FIX	A	0.22%
NTRA	A	0.22%
EQH	B	0.21%
WING	C	0.2%
XPO	F	0.2%
TXRH	A	0.19%
TOST	B	0.19%
SRPT	F	0.18%
NBIX	F	0.18%
KNSL	B	0.16%
DUOL	B	0.16%
MUSA	D	0.15%
CHDN	C	0.15%
CAVA	B	0.15%
NCLH	C	0.14%
TPX	C	0.14%
DVA	C	0.13%
MEDP	F	0.13%
LNW	F	0.13%
MORN	B	0.13%
TREX	D	0.12%
AAON	A	0.12%
SMAR	A	0.12%
ITCI	D	0.12%
SWN	D	0.12%
RYAN	A	0.11%
PEN	D	0.11%
PCTY	C	0.11%
BSY	D	0.11%
ELF	F	0.1%
INSP	C	0.1%
WFRD	F	0.1%
GTLB	D	0.1%
ESTC	F	0.1%
PCOR	D	0.1%
VKTX	C	0.1%
VVV	D	0.09%
CELH	F	0.09%
CFLT	F	0.08%
RARE	D	0.08%
FOUR	A	0.08%
APPF	C	0.08%
TDC	D	0.05%
APLS	F	0.05%
PEGA	B	0.05%
RNG	F	0.04%
FIVN	F	0.03%

SMMD Underweight 262 Positions Relative to IWS

Symbol	Grade	Weight
AFL	A	-0.71%
AJG	C	-0.65%
DHI	C	-0.64%
WMB	A	-0.63%
O	C	-0.62%
OKE	A	-0.6%
BK	A	-0.59%
DLR	C	-0.58%
CCI	D	-0.58%
FIS	A	-0.53%
LHX	A	-0.52%
PEG	A	-0.51%
CMI	A	-0.5%
LEN	C	-0.5%
KVUE	C	-0.49%
KMI	A	-0.49%
PCG	C	-0.48%
PRU	B	-0.48%
A	B	-0.48%
GIS	C	-0.47%
OTIS	A	-0.47%
ALL	A	-0.47%
CTVA	A	-0.46%
URI	C	-0.46%
EXC	C	-0.46%
SPG	A	-0.46%
ACGL	A	-0.46%
MCHP	F	-0.46%
CNC	F	-0.44%
AME	C	-0.44%
IR	A	-0.44%
CTSH	B	-0.43%
EA	D	-0.43%
DOW	B	-0.43%
HWM	A	-0.43%
IQV	F	-0.42%
EXR	D	-0.42%
ROST	D	-0.42%
KR	C	-0.42%
FERG	F	-0.42%
CBRE	C	-0.42%
XEL	C	-0.41%
ED	C	-0.41%
NUE	D	-0.41%
GEHC	C	-0.41%
BKR	B	-0.41%
DD	C	-0.41%
HIG	A	-0.39%
FANG	D	-0.38%
HUM	F	-0.38%
DFS	A	-0.38%
GLW	C	-0.38%
VICI	C	-0.38%
EBAY	A	-0.37%
EIX	C	-0.37%
WAB	A	-0.36%
DAL	C	-0.36%
XYL	C	-0.36%
CHTR	D	-0.35%
MLM	F	-0.35%
MTD	C	-0.35%
AVB	C	-0.35%
NDAQ	C	-0.34%
CSGP	F	-0.34%
ON	F	-0.34%
PPG	D	-0.34%
WEC	B	-0.34%
WTW	C	-0.34%
PAYX	B	-0.33%
PHM	C	-0.33%
PWR	A	-0.33%
ETR	A	-0.32%
ADM	F	-0.32%
AWK	D	-0.32%
NVR	C	-0.32%
EFX	D	-0.32%
FITB	C	-0.32%
MTB	A	-0.32%
FTV	C	-0.31%
ANSS	D	-0.31%
HLT	A	-0.31%
ROK	D	-0.31%
BIIB	F	-0.31%
EQR	C	-0.31%
IFF	D	-0.3%
HAL	D	-0.3%
DTE	B	-0.3%
GRMN	D	-0.3%
RCL	B	-0.3%
KEYS	B	-0.3%
CHD	D	-0.29%
GPN	F	-0.29%
FSLR	C	-0.29%
FE	C	-0.29%
VTR	C	-0.29%
HPQ	B	-0.29%
HPE	B	-0.29%
TTWO	D	-0.29%
SBAC	C	-0.29%
DOV	C	-0.29%
STT	A	-0.29%
PPL	C	-0.28%
WY	C	-0.28%
LYB	B	-0.28%
DVN	F	-0.28%
RMD	C	-0.28%
ES	D	-0.27%
MSTR	B	-0.27%
HSY	D	-0.27%
YUM	C	-0.27%
VMC	D	-0.27%
HUBB	A	-0.26%
STE	D	-0.26%
RJF	B	-0.26%
AEE	A	-0.26%
TROW	D	-0.26%
BBY	C	-0.25%
WDC	C	-0.25%
ZBH	F	-0.25%
CBOE	B	-0.25%
LDOS	A	-0.25%
CINF	A	-0.24%
CMS	A	-0.24%
K	B	-0.24%
COO	C	-0.24%
MKC	C	-0.24%
SQ	D	-0.24%
INVH	D	-0.24%
BLDR	C	-0.24%
FCNCA	D	-0.24%
TDY	A	-0.23%
ARE	D	-0.23%
LNG	A	-0.23%
ILMN	B	-0.23%
HBAN	B	-0.23%
RF	B	-0.23%
BALL	C	-0.23%
ATO	A	-0.23%
APTV	D	-0.22%
STLD	C	-0.22%
SYF	A	-0.22%
GPC	D	-0.22%
PFG	A	-0.22%
WBD	F	-0.22%
OMC	C	-0.22%
MAA	D	-0.21%
HOLX	D	-0.21%
LH	D	-0.21%
UAL	A	-0.21%
MAS	C	-0.21%
DG	F	-0.21%
MSCI	B	-0.21%
ESS	D	-0.21%
BAX	D	-0.21%
TRU	C	-0.21%
CNP	B	-0.21%
NTRS	B	-0.2%
CSL	A	-0.2%
CTRA	D	-0.2%
LUV	B	-0.2%
CCL	C	-0.2%
CFG	C	-0.2%
ZM	B	-0.2%
SUI	D	-0.19%
TSN	D	-0.19%
WRB	C	-0.19%
SWK	C	-0.19%
IP	C	-0.19%
DGX	D	-0.19%
AVTR	D	-0.19%
LNT	B	-0.18%
SSNC	C	-0.18%
CF	A	-0.18%
DOC	C	-0.18%
FNF	C	-0.18%
IEX	D	-0.18%
AMCR	C	-0.18%
J	F	-0.18%
SYY	D	-0.17%
UDR	C	-0.17%
VRSN	C	-0.17%
IRM	B	-0.17%
TRMB	B	-0.17%
VLTO	A	-0.17%
AKAM	D	-0.17%
KEY	B	-0.17%
EXPD	D	-0.17%
RVTY	C	-0.17%
SWKS	F	-0.17%
MKL	B	-0.17%
MRO	B	-0.17%
CAG	D	-0.17%
NTAP	D	-0.16%
JBHT	D	-0.16%
BRO	A	-0.16%
L	C	-0.16%
DLTR	F	-0.16%
AES	C	-0.16%
IBKR	A	-0.16%
CDW	D	-0.16%
ZBRA	B	-0.16%
EMN	C	-0.15%
BMRN	F	-0.15%
WPC	C	-0.15%
VTRS	D	-0.15%
HES	D	-0.15%
EVRG	C	-0.15%
BG	F	-0.15%
SJM	D	-0.14%
KMX	F	-0.13%
LKQ	F	-0.12%
CAH	B	-0.12%
CE	D	-0.12%
ALB	D	-0.12%
RPRX	D	-0.12%
SOLV	C	-0.11%
CNH	C	-0.11%
FOXA	B	-0.11%
DPZ	D	-0.11%
TAP	D	-0.11%
FWONK	D	-0.11%
EPAM	F	-0.11%
INCY	B	-0.11%
WST	D	-0.1%
TWLO	B	-0.1%
TW	A	-0.1%
MGM	D	-0.1%
HRL	F	-0.1%
DRI	C	-0.1%
CPB	D	-0.1%
ALGN	D	-0.09%
WSM	C	-0.09%
PTC	B	-0.09%
WAT	B	-0.09%
FICO	C	-0.08%
MOH	F	-0.08%
GWW	B	-0.07%
WBA	F	-0.07%
LW	D	-0.07%
FAST	C	-0.07%
OKTA	F	-0.07%
WLK	C	-0.06%
FOX	B	-0.06%
COIN	F	-0.06%
SIRI	C	-0.06%
BEN	F	-0.06%
AMP	A	-0.05%
LINE	F	-0.05%
AMTM	D	-0.04%
TYL	D	-0.04%
GFS	F	-0.04%
ALNY	C	-0.04%
ULTA	D	-0.03%
AGR	C	-0.03%
RKT	D	-0.03%
PAYC	D	-0.03%
TER	C	-0.02%
LEN	C	-0.02%
BR	B	-0.02%
FWONA	C	-0.01%
CNA	D	-0.01%
GRAL	F	-0.0%