SPSM vs. ESML ETF Comparison

Comparison of SPDR Portfolio Small Cap ETF (SPSM) to iShares MSCI USA Small-Cap ESG Optimized ETF (ESML)

SPSM

SPDR Portfolio Small Cap ETF

SPSM Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the SSGA Small Cap Index that tracks the performance of small capitalization exchange traded U.S. equity securities. The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. It may purchase a subset of the securities in the index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$47.84

Average Daily Volume

1,581,869

Number of Holdings ^*

586

* may have additional holdings in another (foreign) market

ESML

iShares MSCI USA Small-Cap ESG Optimized ETF

ESML Description

The investment seeks to track the investment results of the MSCI USA Small Cap Extended ESG Focus Index. The fund generally will invest at least 90% of its assets in the component securities 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 is an optimized equity index designed to produce investment results comparable to the MSCI USA Small Cap Index (the "parent index"), while reflecting a higher allocation than that of the parent index to U.S. small-capitalization companies with favorable ESG profiles. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.46

Average Daily Volume

88,928

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

Performance

Period	SPSM	ESML
30 Days	6.50%	6.19%
60 Days	5.60%	6.82%
90 Days	6.02%	7.85%
12 Months	30.13%	32.19%

318 Overlapping Holdings

	Symbol	Grade	Weight in SPSM	Weight in ESML	Overlap
	AAP	D	0.17%	0.06%	0.06%
	AAT	B	0.09%	0.07%	0.07%
	ABCB	B	0.32%	0.11%	0.11%
	ABG	C	0.36%	0.12%	0.12%
	ABM	B	0.24%	0.09%	0.09%
	ACA	A	0.36%	0.14%	0.14%
	ACIW	B	0.41%	0.16%	0.16%
	ADMA	B	0.32%	0.06%	0.06%
	ADUS	D	0.15%	0.05%	0.05%
	AEIS	C	0.29%	0.17%	0.17%
	AEO	F	0.23%	0.08%	0.08%
	AGO	B	0.32%	0.06%	0.06%
	AGYS	A	0.19%	0.05%	0.05%
	AHH	D	0.05%	0.04%	0.04%
	AIR	B	0.17%	0.06%	0.06%
	AL	B	0.36%	0.1%	0.1%
	ALG	B	0.14%	0.08%	0.08%
	ALK	B	0.47%	0.23%	0.23%
	ALKS	C	0.32%	0.1%	0.1%
	ALRM	C	0.21%	0.05%	0.05%
	AMBC	C	0.04%	0.05%	0.04%
	AMN	F	0.07%	0.04%	0.04%
	AMWD	C	0.11%	0.08%	0.08%
	ANDE	D	0.11%	0.06%	0.06%
	AORT	B	0.07%	0.05%	0.05%
	APAM	B	0.23%	0.1%	0.1%
	ARCB	C	0.18%	0.05%	0.05%
	ARLO	C	0.08%	0.04%	0.04%
	AROC	A	0.29%	0.1%	0.1%
	ASTE	C	0.06%	0.05%	0.05%
	ATEN	A	0.09%	0.06%	0.06%
	ATGE	B	0.23%	0.06%	0.06%
	ATI	C	0.5%	0.14%	0.14%
	AUB	B	0.27%	0.11%	0.11%
	AVA	A	0.22%	0.19%	0.19%
	AVAV	C	0.39%	0.13%	0.13%
	AWI	A	0.48%	0.23%	0.23%
	AWR	B	0.23%	0.05%	0.05%
	AXL	C	0.05%	0.05%	0.05%
	AZZ	A	0.18%	0.07%	0.07%
	BANC	B	0.16%	0.06%	0.06%
	BANR	B	0.18%	0.18%	0.18%
	BCC	B	0.39%	0.16%	0.16%
	BCPC	B	0.41%	0.13%	0.13%
	BDN	C	0.06%	0.07%	0.06%
	BGC	C	0.29%	0.05%	0.05%
	BHE	C	0.12%	0.16%	0.12%
	BHLB	B	0.09%	0.2%	0.09%
	BKU	A	0.22%	0.06%	0.06%
	BL	B	0.21%	0.08%	0.08%
	BMI	B	0.45%	0.3%	0.3%
	BOH	B	0.22%	0.08%	0.08%
	BOOT	C	0.29%	0.06%	0.06%
	BOX	B	0.35%	0.13%	0.13%
	BRC	D	0.22%	0.09%	0.09%
	BXMT	C	0.22%	0.08%	0.08%
	CABO	B	0.13%	0.13%	0.13%
	CAKE	C	0.16%	0.06%	0.06%
	CAL	F	0.07%	0.04%	0.04%
	CALM	A	0.27%	0.06%	0.06%
	CALX	D	0.12%	0.05%	0.05%
	CBU	B	0.25%	0.06%	0.06%
	CCOI	B	0.24%	0.1%	0.1%
	CCS	D	0.17%	0.06%	0.06%
	CLB	B	0.07%	0.06%	0.06%
	CMA	B	0.64%	0.21%	0.21%
	CNK	C	0.24%	0.09%	0.09%
	CNMD	C	0.15%	0.05%	0.05%
	COOP	B	0.45%	0.05%	0.05%
	CPF	B	0.06%	0.15%	0.06%
	CPK	A	0.21%	0.13%	0.13%
	CPRX	C	0.17%	0.05%	0.05%
	CRC	A	0.28%	0.1%	0.1%
	CRS	B	0.64%	0.15%	0.15%
	CRVL	B	0.23%	0.09%	0.09%
	CSGS	B	0.11%	0.11%	0.11%
	CTS	C	0.12%	0.07%	0.07%
	CUBI	B	0.11%	0.05%	0.05%
	CVBF	A	0.21%	0.12%	0.12%
	CWEN	C	0.06%	0.07%	0.06%
	CWEN	C	0.16%	0.05%	0.05%
	CWEN	C	0.16%	0.07%	0.07%
	CWEN	C	0.06%	0.05%	0.05%
	CWK	C	0.23%	0.07%	0.07%
	CWT	C	0.21%	0.04%	0.04%
	CXM	C	0.07%	0.04%	0.04%
	DEA	D	0.08%	0.07%	0.07%
	DEI	B	0.21%	0.02%	0.02%
	DFIN	D	0.11%	0.12%	0.11%
	DGII	C	0.08%	0.05%	0.05%
	DLX	B	0.07%	0.06%	0.06%
	DNOW	B	0.11%	0.05%	0.05%
	DOCN	C	0.16%	0.05%	0.05%
	DV	C	0.19%	0.1%	0.1%
	DXC	B	0.25%	0.11%	0.11%
	DY	D	0.41%	0.1%	0.1%
	EAT	A	0.39%	0.16%	0.16%
	ECPG	C	0.08%	0.11%	0.08%
	EMBC	C	0.06%	0.05%	0.05%
	ENR	B	0.16%	0.07%	0.07%
	ENV	B	0.23%	0.06%	0.06%
	EPAC	C	0.18%	0.13%	0.13%
	EPC	F	0.12%	0.04%	0.04%
	EPRT	B	0.42%	0.18%	0.18%
	ESE	B	0.27%	0.09%	0.09%
	ETSY	D	0.41%	0.1%	0.1%
	EYE	C	0.06%	0.06%	0.06%
	FBP	C	0.24%	0.2%	0.2%
	FELE	B	0.3%	0.22%	0.22%
	FFBC	B	0.2%	0.05%	0.05%
	FL	F	0.13%	0.06%	0.06%
	FLGT	F	0.02%	0.04%	0.02%
	FORM	D	0.21%	0.04%	0.04%
	FOXF	F	0.1%	0.04%	0.04%
	FSS	B	0.39%	0.15%	0.15%
	FTDR	B	0.3%	0.22%	0.22%
	FTRE	D	0.12%	0.05%	0.05%
	FUL	F	0.29%	0.1%	0.1%
	FULT	A	0.27%	0.12%	0.12%
	GBX	A	0.14%	0.07%	0.07%
	GDOT	D	0.04%	0.01%	0.01%
	GKOS	B	0.54%	0.18%	0.18%
	GO	C	0.12%	0.05%	0.05%
	GOGO	C	0.03%	0.05%	0.03%
	GPI	B	0.37%	0.19%	0.19%
	GPRE	F	0.05%	0.04%	0.04%
	GRBK	D	0.15%	0.04%	0.04%
	GTES	A	0.34%	0.07%	0.07%
	GVA	A	0.3%	0.08%	0.08%
	HAFC	B	0.05%	0.07%	0.05%
	HAIN	D	0.05%	0.05%	0.05%
	HASI	D	0.23%	0.1%	0.1%
	HAYW	B	0.16%	0.05%	0.05%
	HBI	B	0.21%	0.07%	0.07%
	HCC	B	0.25%	0.05%	0.05%
	HELE	C	0.11%	0.06%	0.06%
	HI	C	0.16%	0.07%	0.07%
	HIMS	B	0.28%	0.07%	0.07%
	HIW	C	0.24%	0.13%	0.13%
	HLIT	D	0.1%	0.05%	0.05%
	HLX	B	0.1%	0.05%	0.05%
	HNI	B	0.18%	0.15%	0.15%
	HPP	F	0.03%	0.04%	0.03%
	HWKN	B	0.17%	0.07%	0.07%
	HZO	F	0.04%	0.05%	0.04%
	IART	C	0.11%	0.05%	0.05%
	IBP	D	0.34%	0.09%	0.09%
	ICHR	C	0.07%	0.05%	0.05%
	ICUI	D	0.3%	0.08%	0.08%
	IDCC	B	0.33%	0.14%	0.14%
	INDB	B	0.22%	0.08%	0.08%
	INSP	D	0.37%	0.08%	0.08%
	IOSP	C	0.21%	0.08%	0.08%
	ITGR	B	0.32%	0.13%	0.13%
	ITRI	C	0.37%	0.2%	0.2%
	JBGS	F	0.09%	0.05%	0.05%
	JBT	B	0.27%	0.08%	0.08%
	JXN	C	0.54%	0.14%	0.14%
	KAR	B	0.15%	0.11%	0.11%
	KELYA	F	0.03%	0.03%	0.03%
	KFY	B	0.28%	0.09%	0.09%
	KLG	B	0.08%	0.05%	0.05%
	KLIC	B	0.18%	0.13%	0.13%
	KOP	C	0.06%	0.08%	0.06%
	KREF	C	0.05%	0.06%	0.05%
	KRYS	C	0.32%	0.04%	0.04%
	KSS	F	0.14%	0.05%	0.05%
	KTB	B	0.32%	0.16%	0.16%
	LCII	C	0.21%	0.1%	0.1%
	LEG	F	0.11%	0.05%	0.05%
	LESL	D	0.04%	0.04%	0.04%
	LNC	C	0.42%	0.09%	0.09%
	LNN	B	0.1%	0.08%	0.08%
	LRN	A	0.31%	0.13%	0.13%
	LUMN	C	0.59%	0.19%	0.19%
	LXP	D	0.19%	0.06%	0.06%
	MAC	B	0.3%	0.08%	0.08%
	MARA	B	0.38%	0.09%	0.09%
	MC	C	0.37%	0.02%	0.02%
	MDU	D	0.27%	0.18%	0.18%
	MHO	D	0.3%	0.05%	0.05%
	MLKN	F	0.12%	0.04%	0.04%
	MMI	C	0.07%	0.05%	0.05%
	MMSI	A	0.43%	0.15%	0.15%
	MNRO	D	0.06%	0.05%	0.05%
	MODG	F	0.08%	0.05%	0.05%
	MOG.A	B	0.45%	0.24%	0.24%
	MPW	F	0.18%	0.05%	0.05%
	MRCY	C	0.14%	0.11%	0.11%
	MTH	D	0.46%	0.17%	0.17%
	MTRN	C	0.17%	0.06%	0.06%
	MTUS	C	0.04%	0.04%	0.04%
	MTX	B	0.18%	0.12%	0.12%
	MXL	C	0.08%	0.05%	0.05%
	MYGN	F	0.1%	0.03%	0.03%
	MYRG	B	0.17%	0.16%	0.16%
	NABL	F	0.05%	0.04%	0.04%
	NARI	C	0.18%	0.06%	0.06%
	NBHC	C	0.13%	0.05%	0.05%
	NBTB	B	0.16%	0.06%	0.06%
	NEO	C	0.14%	0.05%	0.05%
	NMIH	C	0.21%	0.09%	0.09%
	NPO	A	0.25%	0.13%	0.13%
	NSIT	F	0.3%	0.13%	0.13%
	NWL	C	0.26%	0.1%	0.1%
	NWN	A	0.11%	0.07%	0.07%
	OGN	F	0.28%	0.09%	0.09%
	OII	B	0.2%	0.06%	0.06%
	OMCL	C	0.15%	0.05%	0.05%
	OMI	F	0.06%	0.04%	0.04%
	OUT	A	0.18%	0.07%	0.07%
	PAHC	C	0.04%	0.06%	0.04%
	PAYO	A	0.19%	0.06%	0.06%
	PBI	B	0.08%	0.05%	0.05%
	PDCO	F	0.12%	0.13%	0.12%
	PDFS	C	0.07%	0.05%	0.05%
	PEB	D	0.11%	0.06%	0.06%
	PECO	A	0.34%	0.07%	0.07%
	PENN	C	0.21%	0.05%	0.05%
	PFS	B	0.2%	0.05%	0.05%
	PGNY	F	0.08%	0.04%	0.04%
	PI	D	0.28%	0.07%	0.07%
	PINC	B	0.17%	0.14%	0.14%
	PIPR	A	0.38%	0.08%	0.08%
	PJT	A	0.26%	0.1%	0.1%
	PLAY	D	0.08%	0.06%	0.06%
	PLMR	A	0.2%	0.08%	0.08%
	PLUS	F	0.15%	0.06%	0.06%
	PLXS	B	0.3%	0.17%	0.17%
	POWL	C	0.19%	0.09%	0.09%
	PPBI	C	0.19%	0.06%	0.06%
	PRAA	D	0.06%	0.05%	0.05%
	PRG	C	0.14%	0.05%	0.05%
	PRGS	A	0.2%	0.24%	0.2%
	PRVA	C	0.15%	0.08%	0.08%
	PSMT	D	0.16%	0.05%	0.05%
	PTEN	C	0.21%	0.04%	0.04%
	PTGX	D	0.17%	0.05%	0.05%
	RAMP	B	0.13%	0.05%	0.05%
	RCUS	F	0.06%	0.04%	0.04%
	RDN	D	0.36%	0.09%	0.09%
	RDNT	B	0.37%	0.1%	0.1%
	REZI	A	0.27%	0.23%	0.23%
	RHI	C	0.53%	0.21%	0.21%
	RNST	B	0.17%	0.08%	0.08%
	ROCK	C	0.15%	0.06%	0.06%
	ROG	D	0.12%	0.07%	0.07%
	RUN	F	0.16%	0.05%	0.05%
	RUSHA	C	0.27%	0.05%	0.05%
	RXO	D	0.26%	0.1%	0.1%
	SATS	D	0.2%	0.06%	0.06%
	SBH	C	0.1%	0.05%	0.05%
	SCL	C	0.11%	0.1%	0.1%
	SEDG	F	0.04%	0.02%	0.02%
	SEE	C	0.36%	0.07%	0.07%
	SEM	B	0.27%	0.07%	0.07%
	SFBS	C	0.33%	0.06%	0.06%
	SHAK	C	0.33%	0.09%	0.09%
	SHOO	F	0.22%	0.11%	0.11%
	SIG	B	0.3%	0.1%	0.1%
	SJW	F	0.12%	0.09%	0.09%
	SKT	A	0.28%	0.07%	0.07%
	SLG	B	0.35%	0.1%	0.1%
	SLVM	B	0.21%	0.05%	0.05%
	SM	B	0.36%	0.06%	0.06%
	SMP	C	0.05%	0.05%	0.05%
	SMPL	B	0.24%	0.05%	0.05%
	SMTC	B	0.24%	0.06%	0.06%
	SNDR	B	0.1%	0.19%	0.1%
	SONO	C	0.11%	0.07%	0.07%
	SPSC	D	0.47%	0.16%	0.16%
	STAA	F	0.09%	0.03%	0.03%
	STC	B	0.14%	0.08%	0.08%
	SXT	C	0.23%	0.07%	0.07%
	TALO	C	0.1%	0.06%	0.06%
	TBBK	B	0.19%	0.08%	0.08%
	TDS	B	0.22%	0.08%	0.08%
	TGI	B	0.1%	0.06%	0.06%
	TGNA	B	0.21%	0.2%	0.2%
	TGTX	B	0.28%	0.06%	0.06%
	THRM	F	0.09%	0.05%	0.05%
	THS	D	0.11%	0.04%	0.04%
	TILE	B	0.1%	0.08%	0.08%
	TMDX	F	0.19%	0.05%	0.05%
	TNC	D	0.12%	0.05%	0.05%
	TNDM	D	0.13%	0.04%	0.04%
	TPH	D	0.28%	0.14%	0.14%
	TRN	B	0.22%	0.1%	0.1%
	UCB	A	0.28%	0.04%	0.04%
	UFPT	C	0.14%	0.05%	0.05%
	UNFI	A	0.09%	0.07%	0.07%
	UNIT	B	0.1%	0.08%	0.08%
	UPBD	B	0.11%	0.06%	0.06%
	VBTX	B	0.11%	0.06%	0.06%
	VECO	F	0.11%	0.1%	0.1%
	VFC	C	0.46%	0.18%	0.18%
	VRRM	F	0.27%	0.06%	0.06%
	VRTS	B	0.11%	0.06%	0.06%
	VSAT	F	0.04%	0.02%	0.02%
	VSCO	C	0.2%	0.07%	0.07%
	VSTS	C	0.11%	0.05%	0.05%
	VVI	C	0.07%	0.06%	0.06%
	VYX	B	0.14%	0.05%	0.05%
	WD	D	0.24%	0.06%	0.06%
	WDFC	B	0.27%	0.11%	0.11%
	WERN	C	0.17%	0.12%	0.12%
	WGO	C	0.12%	0.12%	0.12%
	WHD	B	0.31%	0.12%	0.12%
	WKC	C	0.12%	0.05%	0.05%
	WNC	C	0.06%	0.05%	0.05%
	WOLF	F	0.06%	0.03%	0.03%
	WT	A	0.1%	0.06%	0.06%
	XHR	B	0.11%	0.07%	0.07%
	XPEL	B	0.07%	0.05%	0.05%
	XRX	F	0.07%	0.04%	0.04%
	YELP	C	0.17%	0.05%	0.05%
	ZD	B	0.18%	0.08%	0.08%
	ZWS	B	0.4%	0.2%	0.2%

SPSM Overweight 270 Positions Relative to ESML

	Symbol	Grade	Weight
	MLI	B	0.73%
	BBWI	C	0.5%
	CSWI	B	0.48%
	MGY	A	0.37%
	MATX	C	0.37%
	CTRE	C	0.36%
	CORT	B	0.35%
	AX	B	0.31%
	SKYW	C	0.31%
	SANM	B	0.3%
	PBH	A	0.29%
	STEP	C	0.29%
	NOG	B	0.29%
	GMS	B	0.28%
	SITM	B	0.27%
	MGEE	B	0.27%
	CVCO	A	0.27%
	GEO	B	0.26%
	DORM	B	0.26%
	MSGS	A	0.26%
	CATY	B	0.26%
	APLE	B	0.25%
	HP	C	0.24%
	BTU	B	0.24%
	IAC	F	0.24%
	OTTR	C	0.24%
	ASO	F	0.24%
	CEIX	A	0.24%
	FHB	B	0.24%
	WSFS	B	0.24%
	GNW	A	0.23%
	GFF	A	0.22%
	SFNC	C	0.22%
	HUBG	A	0.22%
	CARG	B	0.22%
	LBRT	D	0.21%
	WAFD	B	0.21%
	UNF	B	0.21%
	PATK	C	0.21%
	VIRT	A	0.21%
	IIPR	D	0.21%
	ARCH	B	0.21%
	SNEX	B	0.2%
	PRK	B	0.2%
	ABR	C	0.2%
	UE	B	0.2%
	GSHD	A	0.2%
	BFH	C	0.2%
	AKR	B	0.19%
	ENVA	B	0.19%
	AMR	C	0.19%
	FCPT	C	0.19%
	CNS	B	0.19%
	TDW	F	0.18%
	SBCF	B	0.18%
	DIOD	D	0.18%
	AIN	C	0.18%
	JJSF	C	0.18%
	VSTO	A	0.18%
	VCEL	B	0.18%
	CXW	C	0.17%
	STRA	C	0.17%
	ACLS	F	0.17%
	TTMI	C	0.17%
	YOU	D	0.17%
	BANF	B	0.17%
	OSIS	A	0.17%
	SXI	B	0.17%
	URBN	C	0.16%
	KMT	B	0.16%
	ROIC	A	0.16%
	EVTC	B	0.16%
	IPAR	B	0.16%
	MP	C	0.16%
	IBTX	B	0.16%
	KWR	C	0.16%
	TRMK	C	0.16%
	PHIN	A	0.16%
	LGND	C	0.15%
	SHO	D	0.15%
	LGIH	F	0.15%
	NATL	B	0.15%
	LMAT	A	0.15%
	B	A	0.15%
	TFIN	B	0.15%
	CRGY	B	0.15%
	VIAV	C	0.15%
	FCF	B	0.14%
	JOE	F	0.14%
	JBLU	F	0.14%
	FBK	C	0.14%
	OI	C	0.14%
	SUPN	C	0.14%
	MCY	A	0.14%
	CASH	B	0.14%
	EXTR	C	0.14%
	OFG	B	0.14%
	APOG	C	0.13%
	LZB	B	0.13%
	DRH	B	0.13%
	NWBI	B	0.13%
	LKFN	C	0.13%
	FBNC	B	0.13%
	CHCO	B	0.13%
	HOPE	C	0.12%
	CENTA	C	0.12%
	HMN	B	0.12%
	LTC	B	0.12%
	PRDO	B	0.12%
	NGVT	B	0.12%
	AMPH	F	0.12%
	ASTH	F	0.12%
	TRUP	B	0.12%
	ADNT	F	0.12%
	WWW	A	0.12%
	WABC	B	0.11%
	WS	C	0.11%
	TRIP	F	0.11%
	PLAB	C	0.11%
	NHC	C	0.11%
	NTCT	C	0.11%
	PZZA	F	0.11%
	KN	B	0.11%
	UCTT	D	0.11%
	GTY	A	0.11%
	STBA	B	0.11%
	USPH	B	0.1%
	UVV	B	0.1%
	ALEX	B	0.1%
	ELME	D	0.1%
	CHEF	A	0.1%
	NX	C	0.1%
	DVAX	C	0.1%
	BKE	B	0.1%
	XNCR	B	0.1%
	GNL	F	0.1%
	SPNT	B	0.1%
	SABR	C	0.1%
	HTH	C	0.1%
	VRE	B	0.1%
	VICR	C	0.09%
	RC	D	0.09%
	MD	C	0.09%
	WOR	F	0.09%
	DCOM	B	0.09%
	SAFT	B	0.09%
	CRK	B	0.09%
	HRMY	D	0.09%
	KW	C	0.09%
	KALU	C	0.09%
	EIG	B	0.09%
	EXPI	D	0.08%
	MCRI	A	0.08%
	ALGT	B	0.08%
	CBRL	C	0.08%
	EFC	C	0.08%
	BRKL	B	0.08%
	CERT	F	0.08%
	AMSF	B	0.08%
	FIZZ	C	0.08%
	CSR	B	0.08%
	OXM	F	0.08%
	SCSC	C	0.08%
	CARS	C	0.08%
	QNST	B	0.08%
	NVEE	F	0.08%
	FDP	B	0.08%
	PMT	C	0.08%
	CENX	B	0.08%
	ARI	C	0.08%
	NAVI	F	0.08%
	PFBC	B	0.08%
	MSEX	C	0.08%
	GIII	D	0.08%
	COHU	C	0.08%
	HCI	C	0.07%
	SAH	C	0.07%
	TMP	B	0.07%
	RWT	D	0.07%
	PRLB	B	0.07%
	COLL	F	0.07%
	UTL	B	0.07%
	LPG	F	0.07%
	BLMN	F	0.07%
	MRTN	D	0.07%
	PARR	F	0.07%
	NXRT	B	0.07%
	SBSI	C	0.07%
	SDGR	C	0.07%
	AHCO	F	0.07%
	DAN	D	0.07%
	INVA	D	0.07%
	SXC	A	0.07%
	FBRT	D	0.07%
	HAYN	A	0.06%
	ASIX	B	0.06%
	BJRI	C	0.06%
	BSIG	A	0.06%
	AVNS	F	0.06%
	HCSG	C	0.06%
	CFFN	C	0.06%
	CNXN	C	0.06%
	EGBN	B	0.06%
	PRA	C	0.06%
	VTLE	C	0.06%
	ODP	F	0.06%
	DXPE	C	0.06%
	JACK	C	0.06%
	HFWA	C	0.06%
	VTOL	B	0.06%
	HSII	B	0.06%
	ANIP	F	0.06%
	RGR	F	0.05%
	WSR	A	0.05%
	VIR	D	0.05%
	CTKB	C	0.05%
	NBR	C	0.05%
	ETD	C	0.05%
	CVI	F	0.05%
	INN	D	0.05%
	CEVA	B	0.05%
	MATV	D	0.05%
	MGPI	F	0.05%
	TRST	B	0.05%
	SWI	C	0.05%
	GDEN	B	0.05%
	REX	D	0.05%
	SSTK	F	0.05%
	AOSL	C	0.05%
	MCW	C	0.05%
	MATW	C	0.05%
	BLFS	C	0.05%
	HSTM	B	0.05%
	JBSS	F	0.05%
	TTGT	B	0.05%
	PCRX	C	0.05%
	BGS	F	0.04%
	HTZ	C	0.04%
	UHT	D	0.04%
	HTLD	C	0.04%
	TR	B	0.04%
	NVRI	D	0.04%
	MLAB	F	0.04%
	IRWD	F	0.04%
	SNCY	C	0.04%
	UFCS	A	0.04%
	IIIN	C	0.04%
	SHEN	F	0.04%
	LQDT	B	0.04%
	SPTN	D	0.04%
	SCVL	F	0.04%
	SCHL	F	0.04%
	EZPW	B	0.04%
	PUMP	C	0.04%
	FWRD	D	0.04%
	CENT	C	0.03%
	CNSL	C	0.03%
	NPK	B	0.03%
	WRLD	C	0.03%
	MYE	F	0.03%
	USNA	C	0.03%
	SVC	F	0.03%
	SLP	D	0.03%
	THRY	D	0.03%
	RGNX	D	0.03%
	GES	F	0.03%
	BFS	C	0.03%
	RES	D	0.03%
	CRSR	C	0.02%
	TWI	F	0.02%

SPSM Underweight 588 Positions Relative to ESML

	Symbol	Grade	Weight
	CASY	A	-0.52%
	JHG	B	-0.51%
	USFD	A	-0.49%
	CVNA	B	-0.48%
	SFM	A	-0.43%
	GWRE	A	-0.43%
	INGR	C	-0.42%
	EWBC	A	-0.4%
	FIX	A	-0.38%
	NTNX	B	-0.36%
	KBR	F	-0.35%
	FTI	A	-0.35%
	AYI	B	-0.34%
	JLL	D	-0.34%
	MUSA	B	-0.34%
	FLEX	B	-0.33%
	XPO	B	-0.33%
	IBKR	A	-0.32%
	FRT	B	-0.31%
	REXR	F	-0.31%
	NTRA	A	-0.31%
	OGS	A	-0.31%
	OSK	C	-0.3%
	GBCI	B	-0.3%
	BWXT	B	-0.3%
	RGA	A	-0.3%
	PNFP	B	-0.3%
	SNV	C	-0.3%
	SIGI	C	-0.29%
	TPR	B	-0.29%
	EHC	B	-0.29%
	RGLD	C	-0.29%
	R	B	-0.29%
	SUM	B	-0.28%
	CNX	A	-0.28%
	DTM	A	-0.28%
	COHR	B	-0.28%
	SAIA	B	-0.28%
	ITT	A	-0.28%
	SCI	B	-0.27%
	TOL	B	-0.27%
	AVT	C	-0.27%
	UMBF	B	-0.27%
	WBS	A	-0.27%
	SSB	B	-0.27%
	AXTA	B	-0.27%
	BLD	D	-0.26%
	GPK	C	-0.26%
	ALSN	B	-0.26%
	MWA	B	-0.25%
	WEX	D	-0.25%
	UNM	A	-0.25%
	DCI	B	-0.25%
	AAON	B	-0.25%
	RRC	B	-0.25%
	BJ	A	-0.25%
	WCC	B	-0.24%
	FTAI	A	-0.24%
	UGI	C	-0.24%
	RNR	C	-0.24%
	IVZ	B	-0.24%
	ATR	B	-0.24%
	HRI	C	-0.24%
	NCLH	B	-0.24%
	AFRM	A	-0.23%
	CBSH	B	-0.23%
	ARMK	B	-0.23%
	PRI	B	-0.23%
	EXLS	B	-0.23%
	CW	C	-0.23%
	FHN	A	-0.23%
	THC	D	-0.23%
	MTG	C	-0.23%
	SOFI	B	-0.22%
	CNM	D	-0.22%
	LAD	A	-0.22%
	GNRC	C	-0.22%
	WAL	B	-0.22%
	CMC	B	-0.22%
	CVLT	B	-0.22%
	AR	B	-0.22%
	EGP	D	-0.21%
	CDP	C	-0.21%
	CACI	D	-0.21%
	WMS	F	-0.21%
	WTS	B	-0.21%
	INSM	C	-0.21%
	PCVX	D	-0.21%
	ONTO	F	-0.21%
	LSTR	D	-0.21%
	CUZ	B	-0.21%
	GME	C	-0.21%
	NJR	A	-0.21%
	CNO	B	-0.2%
	HOG	D	-0.2%
	FND	D	-0.2%
	LECO	C	-0.2%
	BDC	C	-0.2%
	KNSL	B	-0.2%
	WHR	B	-0.2%
	PLNT	A	-0.2%
	KBH	D	-0.2%
	MTN	C	-0.2%
	CUBE	C	-0.2%
	OMF	A	-0.2%
	NFG	A	-0.2%
	PCTY	C	-0.2%
	ZION	B	-0.2%
	ENSG	C	-0.2%
	RLI	A	-0.2%
	HHH	B	-0.2%
	WK	B	-0.2%
	BFAM	D	-0.2%
	PR	B	-0.19%
	AMG	B	-0.19%
	WING	D	-0.19%
	CIEN	C	-0.19%
	FCN	F	-0.19%
	HAS	D	-0.19%
	ONB	C	-0.19%
	AXS	A	-0.19%
	HRB	D	-0.19%
	LNW	F	-0.19%
	OHI	C	-0.19%
	DAR	C	-0.19%
	FRPT	A	-0.19%
	AA	A	-0.19%
	NOVT	D	-0.19%
	RHP	B	-0.19%
	WWD	C	-0.19%
	CR	A	-0.19%
	NVT	B	-0.19%
	SF	B	-0.18%
	SRPT	F	-0.18%
	NYT	D	-0.18%
	BWA	D	-0.18%
	SPXC	A	-0.18%
	THG	A	-0.18%
	KNTK	A	-0.18%
	MORN	B	-0.18%
	DUOL	A	-0.18%
	ENLC	A	-0.18%
	LAZ	B	-0.17%
	CHX	C	-0.17%
	BERY	C	-0.17%
	FN	C	-0.17%
	PCH	F	-0.17%
	TMHC	C	-0.17%
	PCOR	B	-0.17%
	PEN	B	-0.17%
	ESTC	C	-0.17%
	ASB	B	-0.17%
	VVV	D	-0.17%
	LPX	B	-0.17%
	UBSI	B	-0.17%
	MSA	F	-0.17%
	GATX	A	-0.17%
	WSC	F	-0.17%
	MTZ	B	-0.17%
	DLB	B	-0.16%
	RGEN	D	-0.16%
	BRX	A	-0.16%
	DBX	B	-0.16%
	TTEK	F	-0.16%
	FAF	A	-0.16%
	HQY	A	-0.16%
	TNL	A	-0.16%
	TKO	A	-0.16%
	SLM	A	-0.16%
	JAZZ	B	-0.16%
	SITE	F	-0.16%
	FLS	B	-0.16%
	ELAN	D	-0.16%
	GXO	B	-0.16%
	VOYA	B	-0.16%
	PVH	C	-0.16%
	CFLT	B	-0.15%
	VLY	B	-0.15%
	ECG	C	-0.15%
	CADE	B	-0.15%
	WH	B	-0.15%
	MEDP	D	-0.15%
	CRUS	D	-0.15%
	CROX	D	-0.15%
	ANF	F	-0.15%
	AM	A	-0.15%
	VNT	C	-0.15%
	FIBK	B	-0.15%
	NOV	C	-0.15%
	LSCC	D	-0.15%
	RRX	B	-0.15%
	ITCI	C	-0.15%
	MOD	A	-0.15%
	WFRD	D	-0.15%
	GTLB	B	-0.15%
	OZK	B	-0.14%
	HXL	F	-0.14%
	BECN	B	-0.14%
	X	B	-0.14%
	CHDN	B	-0.14%
	GTLS	A	-0.14%
	ESI	B	-0.14%
	LFUS	D	-0.14%
	CHE	D	-0.14%
	SR	A	-0.14%
	RYAN	A	-0.14%
	SMAR	B	-0.14%
	PRIM	A	-0.14%
	ALTR	B	-0.14%
	RMBS	B	-0.14%
	MKSI	C	-0.14%
	IBCP	B	-0.14%
	BILL	A	-0.14%
	ASGN	F	-0.14%
	TPX	B	-0.14%
	CZR	F	-0.14%
	FMC	D	-0.14%
	M	F	-0.13%
	HESM	B	-0.13%
	BRKR	D	-0.13%
	CAVA	B	-0.13%
	AIT	B	-0.13%
	MAT	D	-0.13%
	STRL	A	-0.13%
	CBT	D	-0.13%
	FYBR	C	-0.13%
	ORI	A	-0.13%
	KNF	B	-0.13%
	SWX	B	-0.13%
	CYTK	F	-0.13%
	AZEK	A	-0.13%
	MUR	D	-0.13%
	WTM	A	-0.13%
	VMI	B	-0.13%
	ELF	C	-0.13%
	COLB	B	-0.13%
	AGCO	D	-0.13%
	AGNC	C	-0.12%
	OLLI	D	-0.12%
	EVR	B	-0.12%
	YETI	D	-0.12%
	IRDM	D	-0.12%
	QTWO	A	-0.12%
	KOS	D	-0.12%
	RKLB	A	-0.12%
	BLKB	B	-0.12%
	S	B	-0.12%
	GL	C	-0.12%
	CRDO	B	-0.12%
	THO	B	-0.12%
	ADT	C	-0.12%
	GAP	C	-0.12%
	HAE	C	-0.12%
	PEGA	B	-0.11%
	PATH	C	-0.11%
	TXRH	B	-0.11%
	JEF	A	-0.11%
	ORA	B	-0.11%
	KRC	B	-0.11%
	GMED	A	-0.11%
	VKTX	F	-0.11%
	LYFT	C	-0.11%
	XENE	D	-0.11%
	CRNX	C	-0.11%
	APPF	B	-0.11%
	EFSC	B	-0.11%
	SON	F	-0.11%
	ADC	A	-0.11%
	HALO	F	-0.11%
	LBRDA	C	-0.11%
	VC	F	-0.1%
	CFR	B	-0.1%
	TDC	D	-0.1%
	ERII	D	-0.1%
	RVMD	C	-0.1%
	HCP	B	-0.1%
	BRBR	A	-0.1%
	TENB	C	-0.1%
	FA	C	-0.1%
	SSD	F	-0.1%
	CAC	C	-0.1%
	STWD	C	-0.1%
	NXT	C	-0.1%
	BHVN	D	-0.1%
	DNLI	D	-0.1%
	DRS	B	-0.1%
	LITE	B	-0.1%
	PFSI	C	-0.1%
	FLR	B	-0.1%
	TRNO	F	-0.1%
	RDUS	B	-0.1%
	KD	B	-0.1%
	AMAL	B	-0.1%
	CGNX	D	-0.1%
	ALTM	B	-0.1%
	PSN	D	-0.1%
	LNTH	D	-0.1%
	FIVE	F	-0.1%
	LEA	F	-0.1%
	VNO	C	-0.09%
	AMED	F	-0.09%
	RNA	C	-0.09%
	UPST	B	-0.09%
	U	C	-0.09%
	ARW	D	-0.09%
	WEN	D	-0.09%
	POST	C	-0.09%
	MGRC	B	-0.09%
	FR	D	-0.09%
	CURB	D	-0.09%
	SLAB	F	-0.09%
	ZI	D	-0.09%
	MTSI	B	-0.09%
	OPCH	D	-0.09%
	NXST	C	-0.09%
	RL	C	-0.09%
	ATKR	D	-0.09%
	HWC	B	-0.09%
	IMAX	B	-0.09%
	ACHC	F	-0.09%
	EVRI	A	-0.08%
	AVPT	A	-0.08%
	SBRA	C	-0.08%
	OLED	F	-0.08%
	KTOS	B	-0.08%
	ICFI	F	-0.08%
	AUR	C	-0.08%
	EWTX	C	-0.08%
	BPMC	B	-0.08%
	IESC	C	-0.08%
	SPB	C	-0.08%
	ACLX	C	-0.08%
	SNX	D	-0.08%
	CRSP	D	-0.08%
	VSEC	C	-0.08%
	BPOP	C	-0.08%
	INTA	B	-0.08%
	ST	F	-0.08%
	SASR	B	-0.08%
	TNET	F	-0.08%
	PLYA	B	-0.08%
	LBPH	A	-0.08%
	TEX	F	-0.08%
	CHWY	B	-0.08%
	ENOV	C	-0.08%
	VAC	C	-0.08%
	TARS	C	-0.08%
	PRKS	B	-0.08%
	BWIN	C	-0.08%
	HR	B	-0.08%
	NTGR	B	-0.08%
	PRCT	B	-0.08%
	DOCS	C	-0.08%
	MIR	A	-0.08%
	EE	A	-0.07%
	RARE	F	-0.07%
	LBRDK	C	-0.07%
	UEC	B	-0.07%
	WU	F	-0.07%
	GT	C	-0.07%
	HGV	C	-0.07%
	ESRT	C	-0.07%
	COLM	C	-0.07%
	TREX	C	-0.07%
	ESNT	F	-0.07%
	VVX	C	-0.07%
	AVNT	B	-0.07%
	PRGO	C	-0.07%
	ZYME	C	-0.07%
	ALHC	C	-0.07%
	AZTA	D	-0.07%
	MHK	D	-0.07%
	GH	B	-0.07%
	BROS	A	-0.07%
	FIVN	C	-0.07%
	ATRC	C	-0.07%
	VCTR	B	-0.07%
	BC	C	-0.07%
	WTFC	A	-0.07%
	WRBY	A	-0.07%
	AN	C	-0.07%
	CCCS	B	-0.07%
	PAR	A	-0.07%
	CBZ	B	-0.06%
	CAR	C	-0.06%
	FNA	B	-0.06%
	SG	B	-0.06%
	TMCI	C	-0.06%
	CLSK	C	-0.06%
	IRON	B	-0.06%
	PRO	C	-0.06%
	DCO	C	-0.06%
	VERA	C	-0.06%
	RBBN	C	-0.06%
	PBF	D	-0.06%
	W	D	-0.06%
	MBUU	B	-0.06%
	PTCT	B	-0.06%
	EXPO	D	-0.06%
	AXSM	B	-0.06%
	MOV	D	-0.06%
	AGIO	C	-0.06%
	NRIX	C	-0.06%
	VRNT	C	-0.06%
	COKE	C	-0.06%
	JWN	D	-0.06%
	POWI	F	-0.06%
	CMCO	C	-0.06%
	CHH	A	-0.06%
	CWAN	B	-0.06%
	TDOC	C	-0.06%
	EXP	B	-0.06%
	CLH	C	-0.06%
	PNTG	D	-0.06%
	CLNE	F	-0.06%
	CMP	C	-0.06%
	MGNI	B	-0.06%
	RUSHB	C	-0.06%
	KROS	D	-0.06%
	VREX	B	-0.06%
	FROG	C	-0.06%
	PYCR	B	-0.06%
	CART	C	-0.06%
	OWL	A	-0.06%
	NVST	B	-0.06%
	ACVA	B	-0.06%
	RCM	A	-0.06%
	ROIV	C	-0.06%
	FLYW	B	-0.06%
	APG	B	-0.06%
	IDYA	F	-0.06%
	HURN	C	-0.06%
	PK	C	-0.06%
	MNKD	C	-0.06%
	BYD	B	-0.06%
	AVDX	B	-0.06%
	VNOM	A	-0.06%
	FRSH	B	-0.06%
	KE	C	-0.06%
	FUN	C	-0.06%
	VRNS	D	-0.06%
	CLF	F	-0.06%
	MRUS	F	-0.06%
	FOUR	A	-0.06%
	MAN	F	-0.06%
	VRDN	D	-0.06%
	VERX	A	-0.06%
	PDM	D	-0.06%
	MASI	B	-0.06%
	IBOC	B	-0.06%
	RH	C	-0.06%
	FFIN	B	-0.06%
	COMP	B	-0.06%
	SWTX	C	-0.05%
	RXST	F	-0.05%
	EWCZ	F	-0.05%
	TWST	F	-0.05%
	BNL	D	-0.05%
	ARVN	F	-0.05%
	NUVB	C	-0.05%
	ZEUS	C	-0.05%
	ETNB	C	-0.05%
	RYN	D	-0.05%
	IONS	F	-0.05%
	PLOW	D	-0.05%
	ARKO	C	-0.05%
	SHC	F	-0.05%
	CECO	B	-0.05%
	LEVI	F	-0.05%
	INFA	D	-0.05%
	GERN	D	-0.05%
	APGE	F	-0.05%
	FLG	D	-0.05%
	CDE	C	-0.05%
	CLVT	D	-0.05%
	XRAY	F	-0.05%
	ACEL	C	-0.05%
	BASE	B	-0.05%
	MLTX	B	-0.05%
	SLNO	C	-0.05%
	INVX	C	-0.05%
	ASAN	B	-0.05%
	MLNK	C	-0.05%
	AI	B	-0.05%
	BEAM	D	-0.05%
	PGRE	F	-0.05%
	EDR	A	-0.05%
	REVG	C	-0.05%
	INFN	D	-0.05%
	MRC	B	-0.05%
	SPR	D	-0.05%
	VITL	D	-0.05%
	LCID	F	-0.05%
	ELVN	D	-0.05%
	MTTR	B	-0.05%
	KYMR	D	-0.05%
	XPRO	D	-0.05%
	ZUO	B	-0.05%
	JANX	C	-0.05%
	CSTL	D	-0.05%
	CC	C	-0.05%
	GEF	A	-0.05%
	SKY	A	-0.05%
	BE	B	-0.05%
	LIVN	F	-0.05%
	KMPR	A	-0.05%
	EPR	C	-0.05%
	MDGL	B	-0.05%
	ARWR	D	-0.05%
	KVYO	C	-0.05%
	LOPE	C	-0.05%
	RNG	C	-0.05%
	ARQT	B	-0.05%
	GEF	A	-0.05%
	NUVL	C	-0.05%
	UAA	C	-0.05%
	NCNO	C	-0.05%
	COLD	D	-0.05%
	ALKT	B	-0.05%
	PD	C	-0.05%
	CIVI	D	-0.05%
	CRAI	C	-0.05%
	RCKT	F	-0.04%
	CLW	F	-0.04%
	BKD	F	-0.04%
	HOUS	F	-0.04%
	NEP	F	-0.04%
	KURA	F	-0.04%
	CRI	F	-0.04%
	QS	F	-0.04%
	PRTA	F	-0.04%
	NTLA	F	-0.04%
	CLDX	F	-0.04%
	EGY	D	-0.04%
	ESTA	D	-0.04%
	SPT	C	-0.04%
	JAMF	F	-0.04%
	ARCT	F	-0.04%
	CGEM	F	-0.04%
	COUR	F	-0.04%
	SAVA	C	-0.04%
	SIBN	F	-0.04%
	SNDX	F	-0.04%
	IMVT	F	-0.04%
	MMS	F	-0.04%
	OSCR	D	-0.04%
	AMC	C	-0.04%
	ASH	F	-0.04%
	PLUG	F	-0.04%
	DYN	F	-0.04%
	PLRX	D	-0.04%
	HL	D	-0.04%
	BBIO	F	-0.04%
	DK	C	-0.04%
	QDEL	F	-0.04%
	ALEC	F	-0.04%
	FLO	D	-0.04%
	NVCR	C	-0.04%
	MEI	F	-0.04%
	IVR	F	-0.04%
	BRZE	C	-0.04%
	LGF.A	C	-0.04%
	RXRX	F	-0.04%
	TROX	D	-0.04%
	COGT	D	-0.04%
	RKT	F	-0.04%
	NEOG	F	-0.04%
	NVAX	F	-0.03%
	ANAB	F	-0.03%
	MEG	F	-0.03%
	TXG	F	-0.03%
	SITC	D	-0.03%
	CNXC	F	-0.03%
	CDNA	D	-0.03%
	SVRA	F	-0.03%
	PHAT	F	-0.03%
	CRMT	D	-0.03%
	APLS	F	-0.03%
	CCRN	F	-0.03%
	CPRI	F	-0.03%
	ETWO	F	-0.03%
	BRY	F	-0.03%
	MQ	D	-0.03%
	JELD	F	-0.03%
	AGL	F	-0.02%
	NOVA	F	-0.02%
	ASPN	F	-0.02%
	MAGN	D	-0.01%

SPSM: Top Represented Industries & Keywords

Industries: Banks - Regional - US Biotechnology REIT - Diversified Diversified Industrials Software - Application Packaged Foods Specialty Chemicals Asset Management Medical Devices Oil & Gas Equipment & Services REIT - Retail Software - Infrastructure Auto Parts Insurance - Property & Casualty Oil & Gas E&P Restaurants Specialty Retail Building Materials Communication Equipment Drug Manufacturers - Specialty & Generic

Keywords: Bank Banking Real Estate Investment Trust Deposit Products Medicine Computing Chemical Real Estate Loans Aerospace Clothing Insurance Commercial Bank Mining Semiconductor Transport Commercial Banking Mortgage Loan Investment Management Retail Store Construction

ESML: Top Represented Industries & Keywords

Industries: Biotechnology Banks - Regional - US Software - Application Software - Infrastructure Diversified Industrials Business Services Diagnostics & Research Medical Devices Asset Management Building Materials Engineering & Construction Specialty Chemicals Specialty Retail Information Technology Services Oil & Gas E&P Oil & Gas Equipment & Services REIT - Diversified Auto Parts Electronic Components Aerospace & Defense

Keywords: Medicine Banking Bank Biopharmaceutical Real Estate Investment Trust Computing Chemical Natural Gas Biotechnology Cancer Deposit Products Mining Insurance Construction Telecommunications Aerospace Commercial Banking Electronics Real Estate Loans Transport