ESML vs. AFSM ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Active Factor Small Cap ETF (AFSM)

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

$45.22

Average Daily Volume

89,295

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

AFSM

Active Factor Small Cap ETF

AFSM Description

The investment seeks to provide capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by small capitalization companies. The manager defines small capitalization companies as those that, at the time of investment, have a market capitalization between a minimum of $250 million and the maximum market capitalization of a widely recognized index of small capitalization companies based upon the composition of the index at the time of investment. It is non-diversified.

Grade (RS Rating)

Last Trade

$32.64

Average Daily Volume

15,693

Number of Holdings ^*

295

* may have additional holdings in another (foreign) market

Performance

Period	ESML	AFSM
30 Days	8.75%	7.72%
60 Days	8.59%	6.49%
90 Days	9.69%	6.95%
12 Months	34.45%	33.58%

156 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in AFSM	Overlap
ABG	B	0.12%	0.26%	0.12%
ACIW	B	0.16%	0.02%	0.02%
ADMA	B	0.06%	0.28%	0.06%
ADUS	D	0.05%	0.4%	0.05%
AIT	A	0.13%	0.14%	0.13%
ALKS	B	0.1%	0.93%	0.1%
ALKT	B	0.05%	0.12%	0.05%
ALRM	C	0.05%	0.14%	0.05%
AMN	F	0.04%	0.04%	0.04%
AMWD	C	0.08%	0.52%	0.08%
ANDE	D	0.06%	0.04%	0.04%
ANF	C	0.15%	0.82%	0.15%
APAM	B	0.1%	0.06%	0.06%
APPF	B	0.11%	0.49%	0.11%
AROC	B	0.1%	0.64%	0.1%
ASGN	F	0.14%	0.19%	0.14%
ATEN	B	0.06%	0.05%	0.05%
ATGE	B	0.06%	0.32%	0.06%
ATKR	C	0.09%	0.33%	0.09%
AXSM	B	0.06%	0.17%	0.06%
AYI	B	0.34%	0.14%	0.14%
AZZ	B	0.07%	0.27%	0.07%
BCC	B	0.16%	0.72%	0.16%
BDC	B	0.2%	0.39%	0.2%
BHE	B	0.16%	0.29%	0.16%
BKU	A	0.06%	0.26%	0.06%
BMI	B	0.3%	0.63%	0.3%
BNL	D	0.05%	0.27%	0.05%
BPMC	C	0.08%	0.36%	0.08%
BRBR	A	0.1%	0.52%	0.1%
BRC	D	0.09%	0.16%	0.09%
CAL	D	0.04%	0.36%	0.04%
CALM	A	0.06%	0.72%	0.06%
CCRN	F	0.03%	0.26%	0.03%
CECO	A	0.05%	0.12%	0.05%
CGEM	F	0.04%	0.11%	0.04%
CLW	F	0.04%	0.12%	0.04%
CMC	B	0.22%	0.33%	0.22%
CNK	B	0.09%	0.3%	0.09%
COKE	C	0.06%	0.51%	0.06%
COOP	B	0.05%	0.63%	0.05%
CPRX	C	0.05%	0.93%	0.05%
CRAI	B	0.05%	0.36%	0.05%
CRDO	B	0.12%	0.29%	0.12%
CRS	A	0.15%	0.87%	0.15%
CRVL	A	0.09%	0.62%	0.09%
CSGS	B	0.11%	0.13%	0.11%
CTS	C	0.07%	0.06%	0.06%
CUZ	B	0.21%	0.31%	0.21%
CVLT	B	0.22%	0.74%	0.22%
CVNA	B	0.48%	0.53%	0.48%
DFIN	D	0.12%	0.46%	0.12%
DNOW	B	0.05%	0.29%	0.05%
DXC	B	0.11%	0.3%	0.11%
EMBC	C	0.05%	0.03%	0.03%
EPAC	B	0.13%	0.0%	0.0%
ESNT	D	0.07%	0.34%	0.07%
FBP	B	0.2%	0.33%	0.2%
FIX	A	0.38%	0.79%	0.38%
FORM	D	0.04%	0.04%	0.04%
FTDR	A	0.22%	0.06%	0.06%
GMED	A	0.11%	0.61%	0.11%
GRBK	D	0.04%	0.3%	0.04%
HAE	C	0.12%	0.23%	0.12%
HALO	F	0.11%	0.7%	0.11%
HCC	B	0.05%	0.27%	0.05%
HIMS	B	0.07%	0.51%	0.07%
HIW	D	0.13%	0.35%	0.13%
HLX	B	0.05%	0.22%	0.05%
HRB	D	0.19%	0.44%	0.19%
HURN	B	0.06%	0.29%	0.06%
HWKN	B	0.07%	0.61%	0.07%
IBOC	A	0.06%	0.31%	0.06%
IDCC	A	0.14%	1.17%	0.14%
IESC	B	0.08%	0.41%	0.08%
INTA	A	0.08%	0.26%	0.08%
ITCI	C	0.15%	0.27%	0.15%
JWN	C	0.06%	0.06%	0.06%
JXN	C	0.14%	0.78%	0.14%
KBH	D	0.2%	0.52%	0.2%
KELYA	F	0.03%	0.16%	0.03%
KRC	C	0.11%	0.2%	0.11%
KRYS	B	0.04%	0.08%	0.04%
KSS	F	0.05%	0.06%	0.05%
KTB	B	0.16%	0.08%	0.08%
LNTH	D	0.1%	0.43%	0.1%
LOPE	B	0.05%	0.36%	0.05%
LRN	A	0.13%	0.36%	0.13%
M	D	0.13%	0.37%	0.13%
MEDP	D	0.15%	0.27%	0.15%
MHO	D	0.05%	0.78%	0.05%
MLKN	D	0.04%	0.08%	0.04%
MOG.A	B	0.24%	0.34%	0.24%
MOV	C	0.06%	0.13%	0.06%
MTG	C	0.23%	0.73%	0.23%
MTH	D	0.17%	0.34%	0.17%
MUSA	A	0.34%	0.51%	0.34%
NMIH	D	0.09%	0.56%	0.09%
NSIT	F	0.13%	0.05%	0.05%
NVST	B	0.06%	0.17%	0.06%
OGS	A	0.31%	0.05%	0.05%
OMI	F	0.04%	0.06%	0.04%
ONTO	D	0.21%	0.19%	0.19%
OSCR	D	0.04%	0.11%	0.04%
PBF	D	0.06%	0.32%	0.06%
PDM	D	0.06%	0.34%	0.06%
PFS	B	0.05%	0.32%	0.05%
PGNY	F	0.04%	0.03%	0.03%
PI	D	0.07%	0.5%	0.07%
PINC	B	0.14%	0.46%	0.14%
PIPR	B	0.08%	0.25%	0.08%
PK	B	0.06%	0.2%	0.06%
PLUS	F	0.06%	0.59%	0.06%
POWL	C	0.09%	0.7%	0.09%
PRG	C	0.05%	0.26%	0.05%
PRGS	A	0.24%	0.38%	0.24%
PSN	D	0.1%	0.27%	0.1%
QTWO	A	0.12%	0.4%	0.12%
RAMP	C	0.05%	0.1%	0.05%
RDN	C	0.09%	0.7%	0.09%
RDNT	B	0.1%	0.37%	0.1%
REVG	B	0.05%	0.05%	0.05%
REZI	A	0.23%	0.6%	0.23%
RXST	F	0.05%	0.3%	0.05%
SBH	C	0.05%	0.21%	0.05%
SBRA	C	0.08%	0.29%	0.08%
SFM	A	0.43%	1.0%	0.43%
SIG	B	0.1%	0.37%	0.1%
SLG	B	0.1%	0.65%	0.1%
SLVM	B	0.05%	0.65%	0.05%
SMP	B	0.05%	0.22%	0.05%
SPSC	C	0.16%	0.09%	0.09%
STRL	B	0.13%	0.84%	0.13%
SWX	B	0.13%	0.05%	0.05%
TARS	B	0.08%	0.19%	0.08%
TBBK	B	0.08%	0.7%	0.08%
TDC	D	0.1%	0.04%	0.04%
TEX	D	0.08%	0.47%	0.08%
TGNA	B	0.2%	0.55%	0.2%
TGTX	B	0.06%	0.17%	0.06%
TILE	B	0.08%	0.37%	0.08%
TMDX	F	0.05%	0.21%	0.05%
TMHC	B	0.17%	0.7%	0.17%
TNC	D	0.05%	0.18%	0.05%
TPH	D	0.14%	0.07%	0.07%
TWST	D	0.05%	0.13%	0.05%
UFPT	B	0.05%	0.6%	0.05%
VCTR	B	0.07%	0.21%	0.07%
VITL	D	0.05%	0.03%	0.03%
VRNS	D	0.06%	0.26%	0.06%
VRNT	C	0.06%	0.38%	0.06%
WFRD	D	0.15%	0.42%	0.15%
WGO	C	0.12%	0.07%	0.07%
WNC	C	0.05%	0.38%	0.05%
WT	B	0.06%	0.49%	0.06%
XRX	F	0.04%	0.16%	0.04%

ESML Overweight 748 Positions Relative to AFSM

Symbol	Grade	Weight
CASY	A	0.52%
JHG	A	0.51%
USFD	A	0.49%
GWRE	A	0.43%
INGR	B	0.42%
EWBC	A	0.4%
NTNX	A	0.36%
KBR	F	0.35%
FTI	A	0.35%
JLL	D	0.34%
FLEX	A	0.33%
XPO	B	0.33%
IBKR	A	0.32%
FRT	B	0.31%
REXR	F	0.31%
NTRA	B	0.31%
OSK	B	0.3%
GBCI	B	0.3%
BWXT	B	0.3%
RGA	A	0.3%
PNFP	B	0.3%
SNV	B	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	B	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	A	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	B	0.24%
UGI	A	0.24%
RNR	C	0.24%
IVZ	B	0.24%
ATR	B	0.24%
HRI	B	0.24%
NCLH	B	0.24%
AFRM	B	0.23%
CBSH	A	0.23%
ARMK	B	0.23%
PRI	A	0.23%
AWI	A	0.23%
EXLS	B	0.23%
ALK	C	0.23%
CW	B	0.23%
FHN	A	0.23%
THC	D	0.23%
SOFI	A	0.22%
CNM	D	0.22%
LAD	A	0.22%
GNRC	B	0.22%
FELE	B	0.22%
WAL	B	0.22%
AR	B	0.22%
EGP	F	0.21%
CDP	C	0.21%
CMA	A	0.21%
CACI	D	0.21%
WMS	D	0.21%
WTS	B	0.21%
INSM	C	0.21%
PCVX	D	0.21%
LSTR	D	0.21%
RHI	B	0.21%
GME	C	0.21%
NJR	A	0.21%
ITRI	B	0.2%
CNO	A	0.2%
HOG	D	0.2%
FND	C	0.2%
LECO	B	0.2%
KNSL	B	0.2%
WHR	B	0.2%
PLNT	A	0.2%
MTN	C	0.2%
CUBE	D	0.2%
OMF	A	0.2%
NFG	A	0.2%
PCTY	B	0.2%
ZION	B	0.2%
BHLB	B	0.2%
ENSG	D	0.2%
RLI	B	0.2%
HHH	B	0.2%
WK	B	0.2%
BFAM	D	0.2%
ZWS	B	0.2%
AVA	A	0.19%
PR	B	0.19%
AMG	B	0.19%
WING	D	0.19%
CIEN	B	0.19%
FCN	D	0.19%
LUMN	C	0.19%
HAS	D	0.19%
ONB	B	0.19%
AXS	A	0.19%
LNW	D	0.19%
OHI	C	0.19%
SNDR	B	0.19%
DAR	C	0.19%
FRPT	B	0.19%
GPI	A	0.19%
AA	B	0.19%
NOVT	D	0.19%
RHP	B	0.19%
WWD	B	0.19%
CR	A	0.19%
NVT	B	0.19%
BANR	B	0.18%
SF	B	0.18%
SRPT	D	0.18%
NYT	C	0.18%
BWA	D	0.18%
SPXC	A	0.18%
THG	A	0.18%
GKOS	B	0.18%
KNTK	B	0.18%
MORN	B	0.18%
DUOL	A	0.18%
EPRT	B	0.18%
MDU	D	0.18%
VFC	C	0.18%
ENLC	A	0.18%
AEIS	B	0.17%
LAZ	B	0.17%
CHX	C	0.17%
BERY	B	0.17%
FN	D	0.17%
PCH	D	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
PLXS	B	0.17%
ASB	B	0.17%
VVV	F	0.17%
LPX	B	0.17%
UBSI	B	0.17%
MSA	D	0.17%
GATX	A	0.17%
WSC	D	0.17%
MTZ	B	0.17%
DLB	B	0.16%
RGEN	D	0.16%
BRX	A	0.16%
MYRG	B	0.16%
DBX	B	0.16%
TTEK	F	0.16%
FAF	A	0.16%
EAT	A	0.16%
HQY	B	0.16%
TNL	A	0.16%
TKO	B	0.16%
SLM	A	0.16%
JAZZ	B	0.16%
SITE	D	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%
CRUS	D	0.15%
CROX	D	0.15%
CPF	A	0.15%
MMSI	B	0.15%
FSS	B	0.15%
AM	A	0.15%
VNT	B	0.15%
FIBK	A	0.15%
NOV	C	0.15%
LSCC	D	0.15%
RRX	B	0.15%
HNI	B	0.15%
MOD	A	0.15%
GTLB	B	0.15%
OZK	B	0.14%
HXL	D	0.14%
BECN	B	0.14%
X	C	0.14%
CHDN	B	0.14%
GTLS	B	0.14%
ESI	A	0.14%
LFUS	F	0.14%
CHE	D	0.14%
SR	A	0.14%
RYAN	B	0.14%
SMAR	A	0.14%
PRIM	A	0.14%
ACA	A	0.14%
ALTR	B	0.14%
RMBS	C	0.14%
MKSI	C	0.14%
IBCP	B	0.14%
BILL	A	0.14%
TPX	B	0.14%
CZR	F	0.14%
ATI	D	0.14%
FMC	D	0.14%
AVAV	D	0.13%
HESM	B	0.13%
BRKR	D	0.13%
CAVA	B	0.13%
MAT	D	0.13%
CBT	C	0.13%
PDCO	D	0.13%
FYBR	D	0.13%
ORI	A	0.13%
KNF	A	0.13%
KLIC	B	0.13%
ITGR	B	0.13%
CYTK	F	0.13%
AZEK	A	0.13%
CPK	A	0.13%
MUR	D	0.13%
BOX	B	0.13%
NPO	A	0.13%
WTM	A	0.13%
BCPC	B	0.13%
VMI	B	0.13%
ELF	C	0.13%
COLB	A	0.13%
CABO	C	0.13%
AGCO	D	0.13%
CVBF	A	0.12%
AGNC	D	0.12%
OLLI	D	0.12%
EVR	B	0.12%
YETI	C	0.12%
IRDM	D	0.12%
KOS	F	0.12%
RKLB	B	0.12%
WHD	B	0.12%
BLKB	B	0.12%
S	B	0.12%
GL	B	0.12%
WERN	C	0.12%
THO	B	0.12%
MTX	B	0.12%
ADT	C	0.12%
GAP	C	0.12%
FULT	A	0.12%
PEGA	A	0.11%
PATH	C	0.11%
TXRH	C	0.11%
JEF	A	0.11%
ORA	B	0.11%
ABCB	B	0.11%
AUB	B	0.11%
VKTX	F	0.11%
LYFT	C	0.11%
XENE	D	0.11%
WDFC	B	0.11%
SHOO	D	0.11%
CRNX	C	0.11%
ECPG	B	0.11%
EFSC	B	0.11%
SON	D	0.11%
ADC	B	0.11%
MRCY	B	0.11%
LBRDA	C	0.11%
KAR	B	0.11%
VC	D	0.1%
RXO	C	0.1%
CFR	B	0.1%
NWL	B	0.1%
HASI	D	0.1%
ERII	D	0.1%
PJT	A	0.1%
SCL	C	0.1%
RVMD	C	0.1%
HCP	B	0.1%
TENB	C	0.1%
TRN	C	0.1%
FA	C	0.1%
SSD	D	0.1%
DV	C	0.1%
CAC	B	0.1%
STWD	C	0.1%
FUL	F	0.1%
VECO	F	0.1%
NXT	C	0.1%
ETSY	D	0.1%
DY	D	0.1%
BHVN	D	0.1%
DNLI	D	0.1%
DRS	B	0.1%
CRC	B	0.1%
LITE	B	0.1%
PFSI	D	0.1%
FLR	B	0.1%
TRNO	F	0.1%
AL	B	0.1%
RDUS	C	0.1%
CCOI	B	0.1%
KD	B	0.1%
AMAL	B	0.1%
CGNX	C	0.1%
LCII	C	0.1%
ALTM	C	0.1%
FIVE	F	0.1%
LEA	D	0.1%
VNO	B	0.09%
OGN	D	0.09%
AMED	F	0.09%
RNA	D	0.09%
ABM	B	0.09%
UPST	B	0.09%
U	C	0.09%
ARW	D	0.09%
KFY	B	0.09%
WEN	D	0.09%
POST	C	0.09%
SHAK	C	0.09%
MGRC	B	0.09%
FR	C	0.09%
CURB	D	0.09%
SLAB	D	0.09%
ZI	D	0.09%
MTSI	B	0.09%
OPCH	D	0.09%
ESE	B	0.09%
NXST	C	0.09%
RL	B	0.09%
SJW	D	0.09%
HWC	B	0.09%
MARA	C	0.09%
IMAX	B	0.09%
IBP	D	0.09%
LNC	B	0.09%
ACHC	F	0.09%
EVRI	A	0.08%
AVPT	A	0.08%
BXMT	C	0.08%
ICUI	D	0.08%
OLED	D	0.08%
KTOS	B	0.08%
KOP	C	0.08%
ICFI	F	0.08%
AUR	C	0.08%
EWTX	C	0.08%
BL	B	0.08%
SPB	C	0.08%
IOSP	B	0.08%
ACLX	C	0.08%
SNX	C	0.08%
CRSP	D	0.08%
VSEC	C	0.08%
BPOP	B	0.08%
ST	F	0.08%
ALG	B	0.08%
SASR	B	0.08%
TNET	D	0.08%
PLYA	B	0.08%
PRVA	B	0.08%
LBPH	A	0.08%
INDB	B	0.08%
CHWY	B	0.08%
INSP	D	0.08%
ENOV	C	0.08%
VAC	B	0.08%
TDS	B	0.08%
PRKS	C	0.08%
BWIN	D	0.08%
AEO	F	0.08%
HR	C	0.08%
NTGR	B	0.08%
UNIT	B	0.08%
BOH	B	0.08%
LNN	B	0.08%
STC	B	0.08%
MAC	B	0.08%
PRCT	B	0.08%
JBT	B	0.08%
DOCS	C	0.08%
GVA	A	0.08%
ZD	C	0.08%
PLMR	B	0.08%
MIR	A	0.08%
RNST	B	0.08%
DEA	D	0.07%
AAT	B	0.07%
SKT	B	0.07%
EE	A	0.07%
HI	C	0.07%
GBX	A	0.07%
RARE	D	0.07%
LBRDK	C	0.07%
UEC	B	0.07%
CWEN	C	0.07%
WU	D	0.07%
GT	C	0.07%
HGV	B	0.07%
ESRT	C	0.07%
SEE	C	0.07%
PECO	A	0.07%
HAFC	A	0.07%
COLM	B	0.07%
VSCO	B	0.07%
TREX	C	0.07%
CWK	B	0.07%
GTES	A	0.07%
BDN	C	0.07%
VVX	C	0.07%
ENR	B	0.07%
SONO	C	0.07%
AVNT	B	0.07%
PRGO	B	0.07%
ZYME	C	0.07%
ROG	D	0.07%
SEM	B	0.07%
ALHC	C	0.07%
AZTA	D	0.07%
MHK	D	0.07%
GH	B	0.07%
BROS	B	0.07%
XHR	B	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
HBI	B	0.07%
BC	C	0.07%
WTFC	A	0.07%
WRBY	B	0.07%
AN	C	0.07%
SXT	B	0.07%
CCCS	B	0.07%
NWN	A	0.07%
OUT	A	0.07%
PAR	B	0.07%
UNFI	A	0.07%
MTRN	C	0.06%
CBZ	B	0.06%
VRRM	D	0.06%
CAR	C	0.06%
FNA	C	0.06%
SG	B	0.06%
AAP	C	0.06%
TMCI	D	0.06%
DLX	B	0.06%
CLSK	C	0.06%
IRON	B	0.06%
PRO	C	0.06%
DCO	C	0.06%
VERA	B	0.06%
RBBN	C	0.06%
VRTS	B	0.06%
SATS	D	0.06%
W	F	0.06%
MBUU	C	0.06%
PTCT	B	0.06%
PLAY	D	0.06%
EXPO	D	0.06%
AGIO	C	0.06%
NRIX	D	0.06%
LXP	D	0.06%
POWI	D	0.06%
CMCO	B	0.06%
CHH	A	0.06%
CWAN	B	0.06%
TDOC	C	0.06%
EXP	A	0.06%
CLH	B	0.06%
ROCK	C	0.06%
PNTG	D	0.06%
AIR	B	0.06%
NBTB	B	0.06%
CLNE	D	0.06%
CMP	C	0.06%
MGNI	A	0.06%
AGO	B	0.06%
CAKE	C	0.06%
RUSHB	B	0.06%
KROS	D	0.06%
FL	F	0.06%
VREX	C	0.06%
FROG	C	0.06%
SFBS	B	0.06%
PYCR	C	0.06%
VBTX	B	0.06%
PEB	D	0.06%
HELE	C	0.06%
CART	C	0.06%
BOOT	D	0.06%
SMTC	B	0.06%
OWL	A	0.06%
PPBI	B	0.06%
ACVA	B	0.06%
SM	B	0.06%
RCM	F	0.06%
ROIV	C	0.06%
FLYW	C	0.06%
APG	B	0.06%
IDYA	F	0.06%
EYE	C	0.06%
CLB	B	0.06%
MNKD	C	0.06%
CCS	D	0.06%
TALO	C	0.06%
TGI	B	0.06%
BYD	C	0.06%
AVDX	B	0.06%
VNOM	A	0.06%
FRSH	C	0.06%
KE	C	0.06%
ENV	B	0.06%
FUN	C	0.06%
KREF	D	0.06%
CLF	F	0.06%
MRUS	F	0.06%
FOUR	B	0.06%
MAN	D	0.06%
VRDN	D	0.06%
VERX	B	0.06%
PAHC	C	0.06%
MASI	A	0.06%
UPBD	B	0.06%
WD	D	0.06%
RH	B	0.06%
VVI	C	0.06%
FFIN	B	0.06%
COMP	B	0.06%
OII	B	0.06%
PAYO	A	0.06%
BANC	A	0.06%
CBU	B	0.06%
NARI	C	0.06%
SWTX	C	0.05%
KLG	C	0.05%
EWCZ	F	0.05%
HZO	D	0.05%
AXL	C	0.05%
ARVN	D	0.05%
PBI	B	0.05%
NUVB	C	0.05%
THRM	D	0.05%
ZEUS	C	0.05%
ETNB	C	0.05%
RYN	D	0.05%
IONS	F	0.05%
PLOW	D	0.05%
DOCN	D	0.05%
ARKO	C	0.05%
SHC	F	0.05%
LEVI	F	0.05%
ICHR	C	0.05%
FTRE	D	0.05%
INFA	D	0.05%
GERN	D	0.05%
APGE	F	0.05%
CNMD	C	0.05%
VSTS	C	0.05%
FLG	C	0.05%
ARCB	C	0.05%
CDE	D	0.05%
CLVT	F	0.05%
XRAY	F	0.05%
GOGO	C	0.05%
PSMT	C	0.05%
ACEL	C	0.05%
BASE	C	0.05%
MLTX	B	0.05%
SLNO	B	0.05%
INVX	C	0.05%
PENN	C	0.05%
ASAN	C	0.05%
MLNK	B	0.05%
MODG	F	0.05%
MPW	F	0.05%
AI	B	0.05%
AMBC	C	0.05%
PTGX	C	0.05%
BEAM	D	0.05%
AWR	B	0.05%
XPEL	C	0.05%
PGRE	F	0.05%
EDR	A	0.05%
RUN	F	0.05%
DGII	B	0.05%
PRAA	C	0.05%
HAIN	C	0.05%
INFN	C	0.05%
MRC	B	0.05%
SPR	D	0.05%
MNRO	D	0.05%
WKC	D	0.05%
LCID	F	0.05%
ELVN	D	0.05%
CWEN	C	0.05%
MTTR	B	0.05%
GO	C	0.05%
KYMR	D	0.05%
HAYW	B	0.05%
NEO	C	0.05%
XPRO	F	0.05%
ZUO	B	0.05%
VYX	B	0.05%
OMCL	C	0.05%
MMI	B	0.05%
BGC	C	0.05%
JANX	C	0.05%
PDFS	C	0.05%
CSTL	D	0.05%
IART	C	0.05%
CC	C	0.05%
FFBC	A	0.05%
GEF	A	0.05%
SKY	A	0.05%
BE	B	0.05%
LIVN	F	0.05%
AORT	B	0.05%
SMPL	B	0.05%
KMPR	B	0.05%
EPR	D	0.05%
MDGL	B	0.05%
ASTE	B	0.05%
CUBI	C	0.05%
ARWR	F	0.05%
KVYO	C	0.05%
RNG	B	0.05%
HLIT	D	0.05%
ARQT	C	0.05%
GEF	A	0.05%
NUVL	D	0.05%
LEG	F	0.05%
YELP	C	0.05%
JBGS	D	0.05%
UAA	C	0.05%
RUSHA	C	0.05%
MXL	C	0.05%
NCNO	B	0.05%
COLD	D	0.05%
CALX	D	0.05%
NBHC	B	0.05%
AGYS	A	0.05%
PD	C	0.05%
CIVI	D	0.05%
RCKT	F	0.04%
FOXF	F	0.04%
HPP	F	0.04%
BKD	D	0.04%
HOUS	D	0.04%
GPRE	F	0.04%
FLGT	F	0.04%
NEP	F	0.04%
KURA	F	0.04%
CRI	D	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%
CXM	C	0.04%
TNDM	F	0.04%
COUR	F	0.04%
SAVA	D	0.04%
LESL	C	0.04%
SIBN	F	0.04%
SNDX	F	0.04%
IMVT	F	0.04%
RCUS	F	0.04%
NABL	F	0.04%
MTUS	C	0.04%
MMS	F	0.04%
AMC	C	0.04%
ASH	D	0.04%
PLUG	F	0.04%
DYN	F	0.04%
PLRX	F	0.04%
HL	D	0.04%
BBIO	F	0.04%
DK	C	0.04%
QDEL	F	0.04%
ARLO	C	0.04%
ALEC	F	0.04%
FLO	D	0.04%
PTEN	C	0.04%
NVCR	C	0.04%
MEI	D	0.04%
IVR	F	0.04%
BRZE	C	0.04%
LGF.A	C	0.04%
CWT	D	0.04%
THS	D	0.04%
UCB	A	0.04%
RXRX	F	0.04%
TROX	D	0.04%
COGT	D	0.04%
RKT	F	0.04%
AHH	D	0.04%
EPC	D	0.04%
NEOG	F	0.04%
NVAX	F	0.03%
ANAB	F	0.03%
WOLF	F	0.03%
MEG	F	0.03%
TXG	F	0.03%
SITC	D	0.03%
CNXC	F	0.03%
CDNA	D	0.03%
SVRA	D	0.03%
PHAT	F	0.03%
CRMT	C	0.03%
APLS	D	0.03%
CPRI	F	0.03%
MYGN	F	0.03%
ETWO	F	0.03%
BRY	F	0.03%
MQ	F	0.03%
STAA	F	0.03%
JELD	F	0.03%
AGL	F	0.02%
MC	C	0.02%
NOVA	F	0.02%
VSAT	F	0.02%
DEI	B	0.02%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	D	0.01%
MAGN	F	0.01%

ESML Underweight 139 Positions Relative to AFSM

Symbol	Grade	Weight
MLI	C	-1.38%
SKYW	B	-1.22%
NHC	C	-1.2%
PFBC	B	-0.87%
DAKT	B	-0.86%
ZETA	D	-0.81%
EME	C	-0.79%
UVE	B	-0.7%
SANM	B	-0.67%
CEIX	A	-0.67%
MCY	A	-0.65%
HSII	B	-0.64%
FDP	B	-0.61%
GMS	B	-0.6%
NTB	B	-0.58%
PRK	B	-0.58%
EGBN	B	-0.57%
NHI	D	-0.57%
CORT	B	-0.57%
SUPN	C	-0.56%
BTU	B	-0.55%
OFG	B	-0.54%
BXC	B	-0.54%
CHCO	B	-0.54%
BELFB	C	-0.53%
STBA	B	-0.53%
DOLE	D	-0.53%
GEO	B	-0.51%
ACT	D	-0.49%
PRDO	B	-0.47%
CSWI	A	-0.46%
DDS	B	-0.44%
PLAB	C	-0.43%
USLM	A	-0.43%
RMR	F	-0.42%
LGND	B	-0.41%
YMAB	F	-0.41%
EVER	F	-0.41%
AMR	C	-0.39%
INMD	C	-0.38%
YOU	D	-0.37%
MATX	C	-0.37%
ANIP	F	-0.37%
APOG	B	-0.37%
MD	B	-0.36%
HRMY	D	-0.36%
BLBD	D	-0.36%
IIPR	D	-0.36%
CNXN	C	-0.35%
CASH	A	-0.35%
TRMK	B	-0.34%
LPG	F	-0.32%
SCS	C	-0.31%
SPNS	F	-0.3%
TWI	F	-0.3%
AKR	B	-0.29%
TCMD	A	-0.29%
ODP	F	-0.29%
VIRT	B	-0.28%
BKE	B	-0.28%
PHIN	A	-0.28%
ASO	F	-0.28%
HUBG	A	-0.28%
THFF	B	-0.28%
AVNS	F	-0.27%
SXC	A	-0.27%
HCI	C	-0.26%
BKH	A	-0.26%
GNK	D	-0.25%
AGX	B	-0.25%
GIII	D	-0.25%
PRM	C	-0.25%
KN	B	-0.23%
VNDA	C	-0.23%
MED	F	-0.23%
NTCT	C	-0.23%
LMAT	A	-0.23%
IMKTA	C	-0.22%
HDSN	F	-0.22%
AMKR	D	-0.21%
NX	C	-0.21%
EXTR	B	-0.21%
SIGA	F	-0.21%
WABC	B	-0.21%
BLFS	C	-0.2%
ENS	D	-0.2%
CMPR	D	-0.2%
INSW	F	-0.2%
NUS	D	-0.2%
SGBX	F	-0.19%
DHT	F	-0.19%
ASC	F	-0.19%
NSSC	D	-0.19%
UCTT	D	-0.18%
TPC	C	-0.18%
GOGL	F	-0.18%
NAVI	C	-0.18%
HOV	D	-0.17%
ADNT	F	-0.17%
SD	D	-0.16%
HY	D	-0.16%
HROW	D	-0.16%
VSH	D	-0.16%
SCSC	B	-0.15%
SCVL	F	-0.15%
GES	F	-0.15%
STNG	F	-0.15%
NECB	B	-0.14%
METC	C	-0.14%
MRVI	F	-0.14%
EIG	B	-0.13%
CWCO	C	-0.13%
PCRX	C	-0.13%
YEXT	A	-0.11%
CHRD	D	-0.11%
INVA	D	-0.11%
GFF	A	-0.1%
AMCX	C	-0.1%
ASTH	D	-0.1%
MAX	F	-0.09%
ATLO	D	-0.07%
PEBK	B	-0.07%
CTRE	D	-0.07%
GRND	A	-0.06%
AMPH	D	-0.05%
HE	C	-0.04%
SEMR	B	-0.04%
PHR	F	-0.04%
ETD	C	-0.04%
EOLS	D	-0.04%
OTTR	C	-0.04%
COLL	F	-0.04%
JBI	F	-0.03%
RYI	C	-0.03%
SWI	B	-0.03%
LBRT	D	-0.03%
ACLS	F	-0.02%
MITK	C	-0.0%
MAIN	A	-0.0%