ESML vs. FAB ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to First Trust Multi Cap Value AlphaDEX Fund (FAB)

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

$44.90

Average Daily Volume

88,928

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$88.61

Average Daily Volume

2,522

Number of Holdings ^*

665

* may have additional holdings in another (foreign) market

Performance

Period	ESML	FAB
30 Days	6.19%	4.66%
60 Days	6.82%	4.71%
90 Days	7.85%	4.92%
12 Months	32.19%	25.88%

263 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in FAB	Overlap
AAP	D	0.06%	0.18%	0.06%
ABCB	B	0.11%	0.1%	0.1%
ABG	C	0.12%	0.14%	0.12%
ABM	B	0.09%	0.05%	0.05%
ACA	A	0.14%	0.09%	0.09%
AEO	F	0.08%	0.11%	0.08%
AGCO	D	0.13%	0.08%	0.08%
AGO	B	0.06%	0.25%	0.06%
AIR	B	0.06%	0.03%	0.03%
AL	B	0.1%	0.23%	0.1%
ALG	B	0.08%	0.08%	0.08%
ALK	B	0.23%	0.15%	0.15%
ALKS	C	0.1%	0.09%	0.09%
AMG	B	0.19%	0.23%	0.19%
AMN	F	0.04%	0.06%	0.04%
AMWD	C	0.08%	0.1%	0.08%
AN	C	0.07%	0.12%	0.07%
ANDE	D	0.06%	0.09%	0.06%
AR	B	0.22%	0.09%	0.09%
ARCB	C	0.05%	0.08%	0.05%
ARW	D	0.09%	0.15%	0.09%
ASB	B	0.17%	0.06%	0.06%
ASGN	F	0.14%	0.08%	0.08%
ASH	F	0.04%	0.12%	0.04%
ATKR	D	0.09%	0.23%	0.09%
AUB	B	0.11%	0.05%	0.05%
AVA	A	0.19%	0.12%	0.12%
AVNT	B	0.07%	0.04%	0.04%
AVT	C	0.27%	0.17%	0.17%
AXS	A	0.19%	0.14%	0.14%
BANR	B	0.18%	0.09%	0.09%
BC	C	0.07%	0.12%	0.07%
BCC	B	0.16%	0.17%	0.16%
BECN	B	0.14%	0.1%	0.1%
BERY	C	0.17%	0.14%	0.14%
BHE	C	0.16%	0.05%	0.05%
BHLB	B	0.2%	0.03%	0.03%
BJ	A	0.25%	0.05%	0.05%
BKU	A	0.06%	0.08%	0.06%
BNL	D	0.05%	0.09%	0.05%
BPOP	C	0.08%	0.04%	0.04%
BWA	D	0.18%	0.2%	0.18%
BYD	B	0.06%	0.15%	0.06%
CABO	B	0.13%	0.14%	0.13%
CADE	B	0.15%	0.21%	0.15%
CAL	F	0.04%	0.11%	0.04%
CAR	C	0.06%	0.06%	0.06%
CBU	B	0.06%	0.03%	0.03%
CC	C	0.05%	0.02%	0.02%
CCS	D	0.06%	0.11%	0.06%
CIVI	D	0.05%	0.22%	0.05%
CLF	F	0.06%	0.15%	0.06%
CMA	B	0.21%	0.1%	0.1%
CMC	B	0.22%	0.23%	0.22%
CMCO	C	0.06%	0.1%	0.06%
CNMD	C	0.05%	0.02%	0.02%
CNO	B	0.2%	0.19%	0.19%
CNX	A	0.28%	0.25%	0.25%
CNXC	F	0.03%	0.17%	0.03%
COLB	B	0.13%	0.15%	0.13%
COLM	C	0.07%	0.09%	0.07%
COOP	B	0.05%	0.18%	0.05%
CRC	A	0.1%	0.1%	0.1%
CRI	F	0.04%	0.06%	0.04%
CSGS	B	0.11%	0.06%	0.06%
CUBI	B	0.05%	0.15%	0.05%
CUZ	B	0.21%	0.09%	0.09%
CVBF	A	0.12%	0.09%	0.09%
CWEN	C	0.07%	0.02%	0.02%
CWEN	C	0.05%	0.02%	0.02%
CZR	F	0.14%	0.04%	0.04%
DAR	C	0.19%	0.19%	0.19%
DEA	D	0.07%	0.05%	0.05%
DEI	B	0.02%	0.03%	0.02%
DFIN	D	0.12%	0.05%	0.05%
DK	C	0.04%	0.05%	0.04%
DNOW	B	0.05%	0.14%	0.05%
DXC	B	0.11%	0.18%	0.11%
EFSC	B	0.11%	0.08%	0.08%
ENOV	C	0.08%	0.05%	0.05%
EPC	F	0.04%	0.12%	0.04%
ESNT	F	0.07%	0.19%	0.07%
FAF	A	0.16%	0.04%	0.04%
FELE	B	0.22%	0.04%	0.04%
FFBC	B	0.05%	0.11%	0.05%
FHN	A	0.23%	0.17%	0.17%
FIBK	B	0.15%	0.08%	0.08%
FIVE	F	0.1%	0.09%	0.09%
FLR	B	0.1%	0.05%	0.05%
FMC	D	0.14%	0.18%	0.14%
FOXF	F	0.04%	0.04%	0.04%
FUL	F	0.1%	0.04%	0.04%
FULT	A	0.12%	0.08%	0.08%
GBX	A	0.07%	0.16%	0.07%
GEF	A	0.05%	0.13%	0.05%
GEF	A	0.05%	0.13%	0.05%
GL	C	0.12%	0.13%	0.12%
GO	C	0.05%	0.05%	0.05%
GOGO	C	0.05%	0.06%	0.05%
GPI	B	0.19%	0.18%	0.18%
GPRE	F	0.04%	0.02%	0.02%
GRBK	D	0.04%	0.06%	0.04%
GT	C	0.07%	0.13%	0.07%
GXO	B	0.16%	0.05%	0.05%
HAYW	B	0.05%	0.03%	0.03%
HCC	B	0.05%	0.22%	0.05%
HELE	C	0.06%	0.13%	0.06%
HGV	C	0.07%	0.1%	0.07%
HIW	C	0.13%	0.09%	0.09%
HOG	D	0.2%	0.18%	0.18%
HRI	C	0.24%	0.18%	0.18%
HWC	B	0.09%	0.1%	0.09%
IART	C	0.05%	0.13%	0.05%
INDB	B	0.08%	0.12%	0.08%
INGR	C	0.42%	0.14%	0.14%
IOSP	C	0.08%	0.05%	0.05%
IVZ	B	0.24%	0.04%	0.04%
JAZZ	B	0.16%	0.19%	0.16%
JBGS	F	0.05%	0.02%	0.02%
JBT	B	0.08%	0.15%	0.08%
JEF	A	0.11%	0.05%	0.05%
JWN	D	0.06%	0.09%	0.06%
JXN	C	0.14%	0.24%	0.14%
KAR	B	0.11%	0.06%	0.06%
KBH	D	0.2%	0.16%	0.16%
KFY	B	0.09%	0.09%	0.09%
KLG	B	0.05%	0.07%	0.05%
KOS	D	0.12%	0.13%	0.12%
KRC	B	0.11%	0.18%	0.11%
KSS	F	0.05%	0.11%	0.05%
LAD	A	0.22%	0.2%	0.2%
LBRDK	C	0.07%	0.2%	0.07%
LCII	C	0.1%	0.05%	0.05%
LEA	F	0.1%	0.19%	0.1%
LFUS	D	0.14%	0.04%	0.04%
LNC	C	0.09%	0.19%	0.09%
LNN	B	0.08%	0.05%	0.05%
LPX	B	0.17%	0.09%	0.09%
LSTR	D	0.21%	0.04%	0.04%
LXP	D	0.06%	0.02%	0.02%
M	F	0.13%	0.17%	0.13%
MAT	D	0.13%	0.04%	0.04%
MDU	D	0.18%	0.16%	0.16%
MHO	D	0.05%	0.19%	0.05%
MLKN	F	0.04%	0.1%	0.04%
MMS	F	0.04%	0.07%	0.04%
MODG	F	0.05%	0.08%	0.05%
MRC	B	0.05%	0.11%	0.05%
MTG	C	0.23%	0.21%	0.21%
MTH	D	0.17%	0.19%	0.17%
MTRN	C	0.06%	0.03%	0.03%
MTX	B	0.12%	0.05%	0.05%
MUR	D	0.13%	0.21%	0.13%
MUSA	B	0.34%	0.05%	0.05%
MYRG	B	0.16%	0.04%	0.04%
NBTB	B	0.06%	0.03%	0.03%
NFG	A	0.2%	0.17%	0.17%
NJR	A	0.21%	0.04%	0.04%
NOV	C	0.15%	0.22%	0.15%
NWN	A	0.07%	0.1%	0.07%
NXST	C	0.09%	0.13%	0.09%
OGN	F	0.09%	0.1%	0.09%
OGS	A	0.31%	0.13%	0.13%
OMF	A	0.2%	0.15%	0.15%
OMI	F	0.04%	0.06%	0.04%
OPCH	D	0.09%	0.03%	0.03%
ORI	A	0.13%	0.09%	0.09%
OSK	C	0.3%	0.24%	0.24%
OZK	B	0.14%	0.19%	0.14%
PBF	D	0.06%	0.22%	0.06%
PDCO	F	0.13%	0.09%	0.09%
PEB	D	0.06%	0.07%	0.06%
PFS	B	0.05%	0.03%	0.03%
PGRE	F	0.05%	0.02%	0.02%
PINC	B	0.14%	0.14%	0.14%
PK	C	0.06%	0.13%	0.06%
PLUS	F	0.06%	0.02%	0.02%
PLYA	B	0.08%	0.09%	0.08%
PNFP	B	0.3%	0.05%	0.05%
POST	C	0.09%	0.12%	0.09%
PPBI	C	0.06%	0.03%	0.03%
PRG	C	0.05%	0.1%	0.05%
PRGO	C	0.07%	0.04%	0.04%
PSMT	D	0.05%	0.05%	0.05%
PTEN	C	0.04%	0.23%	0.04%
PVH	C	0.16%	0.22%	0.16%
R	B	0.29%	0.2%	0.2%
RDN	D	0.09%	0.21%	0.09%
REZI	A	0.23%	0.13%	0.13%
RGA	A	0.3%	0.18%	0.18%
RHI	C	0.21%	0.05%	0.05%
RNR	C	0.24%	0.2%	0.2%
RNST	B	0.08%	0.08%	0.08%
ROCK	C	0.06%	0.05%	0.05%
ROG	D	0.07%	0.05%	0.05%
RRC	B	0.25%	0.19%	0.19%
RUSHA	C	0.05%	0.2%	0.05%
RYN	D	0.05%	0.04%	0.04%
SASR	B	0.08%	0.09%	0.08%
SBH	C	0.05%	0.1%	0.05%
SCL	C	0.1%	0.05%	0.05%
SEE	C	0.07%	0.04%	0.04%
SEM	B	0.07%	0.05%	0.05%
SHOO	F	0.11%	0.02%	0.02%
SIG	B	0.1%	0.16%	0.1%
SJW	F	0.09%	0.07%	0.07%
SKY	A	0.05%	0.04%	0.04%
SLM	A	0.16%	0.09%	0.09%
SM	B	0.06%	0.24%	0.06%
SNDR	B	0.19%	0.08%	0.08%
SNX	D	0.08%	0.12%	0.08%
SON	F	0.11%	0.12%	0.11%
SPB	C	0.08%	0.07%	0.07%
SR	A	0.14%	0.17%	0.14%
SSB	B	0.27%	0.05%	0.05%
STC	B	0.08%	0.02%	0.02%
STWD	C	0.1%	0.04%	0.04%
SUM	B	0.28%	0.16%	0.16%
SWX	B	0.13%	0.13%	0.13%
TALO	C	0.06%	0.14%	0.06%
TDS	B	0.08%	0.13%	0.08%
TEX	F	0.08%	0.21%	0.08%
TGNA	B	0.2%	0.14%	0.14%
THO	B	0.12%	0.13%	0.12%
THRM	F	0.05%	0.05%	0.05%
TMHC	C	0.17%	0.22%	0.17%
TNET	F	0.08%	0.09%	0.08%
TOL	B	0.27%	0.43%	0.27%
TPH	D	0.14%	0.2%	0.14%
TPR	B	0.29%	0.05%	0.05%
UBSI	B	0.17%	0.1%	0.1%
UCB	A	0.04%	0.05%	0.04%
UGI	C	0.24%	0.2%	0.2%
UMBF	B	0.27%	0.05%	0.05%
UNM	A	0.25%	0.21%	0.21%
UPBD	B	0.06%	0.02%	0.02%
VAC	C	0.08%	0.13%	0.08%
VBTX	B	0.06%	0.08%	0.06%
VC	F	0.1%	0.12%	0.1%
VLY	B	0.15%	0.14%	0.14%
VNT	C	0.15%	0.1%	0.1%
VOYA	B	0.16%	0.04%	0.04%
VRTS	B	0.06%	0.08%	0.06%
VSAT	F	0.02%	0.06%	0.02%
VSCO	C	0.07%	0.1%	0.07%
VSTS	C	0.05%	0.09%	0.05%
WAL	B	0.22%	0.05%	0.05%
WBS	A	0.27%	0.17%	0.17%
WCC	B	0.24%	0.16%	0.16%
WD	D	0.06%	0.04%	0.04%
WERN	C	0.12%	0.08%	0.08%
WGO	C	0.12%	0.08%	0.08%
WHR	B	0.2%	0.14%	0.14%
WKC	C	0.05%	0.11%	0.05%
WTFC	A	0.07%	0.1%	0.07%
WTS	B	0.21%	0.04%	0.04%
WU	F	0.07%	0.11%	0.07%
XHR	B	0.07%	0.07%	0.07%
XPEL	B	0.05%	0.03%	0.03%
XRX	F	0.04%	0.08%	0.04%
YETI	D	0.12%	0.05%	0.05%
ZD	B	0.08%	0.12%	0.08%
ZION	B	0.2%	0.16%	0.16%

ESML Overweight 641 Positions Relative to FAB

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%
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%
FLEX	B	0.33%
XPO	B	0.33%
IBKR	A	0.32%
FRT	B	0.31%
REXR	F	0.31%
NTRA	A	0.31%
GBCI	B	0.3%
BWXT	B	0.3%
BMI	B	0.3%
SNV	C	0.3%
SIGI	C	0.29%
EHC	B	0.29%
RGLD	C	0.29%
DTM	A	0.28%
COHR	B	0.28%
SAIA	B	0.28%
ITT	A	0.28%
SCI	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%
DCI	B	0.25%
AAON	B	0.25%
PRGS	A	0.24%
FTAI	A	0.24%
MOG.A	B	0.24%
ATR	B	0.24%
NCLH	B	0.24%
AFRM	A	0.23%
CBSH	B	0.23%
ARMK	B	0.23%
PRI	B	0.23%
AWI	A	0.23%
EXLS	B	0.23%
CW	C	0.23%
THC	D	0.23%
SOFI	B	0.22%
FTDR	B	0.22%
CNM	D	0.22%
GNRC	C	0.22%
CVLT	B	0.22%
EGP	D	0.21%
CDP	C	0.21%
CACI	D	0.21%
WMS	F	0.21%
INSM	C	0.21%
PCVX	D	0.21%
ONTO	F	0.21%
GME	C	0.21%
ITRI	C	0.2%
FND	D	0.2%
LECO	C	0.2%
BDC	C	0.2%
KNSL	B	0.2%
FBP	C	0.2%
PLNT	A	0.2%
MTN	C	0.2%
CUBE	C	0.2%
PCTY	C	0.2%
ENSG	C	0.2%
RLI	A	0.2%
HHH	B	0.2%
WK	B	0.2%
BFAM	D	0.2%
ZWS	B	0.2%
PR	B	0.19%
WING	D	0.19%
CIEN	C	0.19%
FCN	F	0.19%
LUMN	C	0.19%
HAS	D	0.19%
ONB	C	0.19%
HRB	D	0.19%
LNW	F	0.19%
OHI	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%
SPXC	A	0.18%
THG	A	0.18%
GKOS	B	0.18%
KNTK	A	0.18%
MORN	B	0.18%
DUOL	A	0.18%
EPRT	B	0.18%
VFC	C	0.18%
ENLC	A	0.18%
AEIS	C	0.17%
LAZ	B	0.17%
CHX	C	0.17%
FN	C	0.17%
PCH	F	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
PLXS	B	0.17%
VVV	D	0.17%
MSA	F	0.17%
GATX	A	0.17%
WSC	F	0.17%
MTZ	B	0.17%
KTB	B	0.16%
DLB	B	0.16%
RGEN	D	0.16%
BRX	A	0.16%
DBX	B	0.16%
TTEK	F	0.16%
EAT	A	0.16%
HQY	A	0.16%
TNL	A	0.16%
SPSC	D	0.16%
TKO	A	0.16%
ACIW	B	0.16%
SITE	F	0.16%
FLS	B	0.16%
ELAN	D	0.16%
CFLT	B	0.15%
ECG	C	0.15%
WH	B	0.15%
MEDP	D	0.15%
CRUS	D	0.15%
CROX	D	0.15%
CPF	B	0.15%
MMSI	A	0.15%
FSS	B	0.15%
ANF	F	0.15%
AM	A	0.15%
CRS	B	0.15%
LSCC	D	0.15%
RRX	B	0.15%
HNI	B	0.15%
ITCI	C	0.15%
MOD	A	0.15%
WFRD	D	0.15%
GTLB	B	0.15%
HXL	F	0.14%
X	B	0.14%
CHDN	B	0.14%
GTLS	A	0.14%
ESI	B	0.14%
CHE	D	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%
IDCC	B	0.14%
TPX	B	0.14%
ATI	C	0.14%
NSIT	F	0.13%
AVAV	C	0.13%
HESM	B	0.13%
BRKR	D	0.13%
EPAC	C	0.13%
CAVA	B	0.13%
AIT	B	0.13%
STRL	A	0.13%
CBT	D	0.13%
FYBR	C	0.13%
LRN	A	0.13%
KNF	B	0.13%
KLIC	B	0.13%
ITGR	B	0.13%
CYTK	F	0.13%
AZEK	A	0.13%
CPK	A	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%
AGNC	C	0.12%
OLLI	D	0.12%
EVR	B	0.12%
IRDM	D	0.12%
QTWO	A	0.12%
RKLB	A	0.12%
WHD	B	0.12%
BLKB	B	0.12%
S	B	0.12%
CRDO	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%
ORA	B	0.11%
GMED	A	0.11%
VKTX	F	0.11%
LYFT	C	0.11%
XENE	D	0.11%
WDFC	B	0.11%
CRNX	C	0.11%
APPF	B	0.11%
ECPG	C	0.11%
ADC	A	0.11%
MRCY	C	0.11%
HALO	F	0.11%
LBRDA	C	0.11%
RXO	D	0.1%
CFR	B	0.1%
NWL	C	0.1%
TDC	D	0.1%
HASI	D	0.1%
ERII	D	0.1%
PJT	A	0.1%
AROC	A	0.1%
RVMD	C	0.1%
HCP	B	0.1%
BRBR	A	0.1%
TENB	C	0.1%
TRN	B	0.1%
FA	C	0.1%
SSD	F	0.1%
DV	C	0.1%
CAC	C	0.1%
VECO	F	0.1%
NXT	C	0.1%
SLG	B	0.1%
ETSY	D	0.1%
DY	D	0.1%
BHVN	D	0.1%
DNLI	D	0.1%
DRS	B	0.1%
APAM	B	0.1%
LITE	B	0.1%
PFSI	C	0.1%
TRNO	F	0.1%
RDUS	B	0.1%
CCOI	B	0.1%
RDNT	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%
VNO	C	0.09%
AMED	F	0.09%
RNA	C	0.09%
NMIH	C	0.09%
UPST	B	0.09%
U	C	0.09%
CNK	C	0.09%
WEN	D	0.09%
SHAK	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%
ESE	B	0.09%
RL	C	0.09%
MARA	B	0.09%
CRVL	B	0.09%
BRC	D	0.09%
IMAX	B	0.09%
IBP	D	0.09%
POWL	C	0.09%
ACHC	F	0.09%
EVRI	A	0.08%
AVPT	A	0.08%
SBRA	C	0.08%
BXMT	C	0.08%
ICUI	D	0.08%
OLED	F	0.08%
KTOS	B	0.08%
KOP	C	0.08%
ICFI	F	0.08%
AUR	C	0.08%
EWTX	C	0.08%
BPMC	B	0.08%
IESC	C	0.08%
BL	B	0.08%
TILE	B	0.08%
TBBK	B	0.08%
ACLX	C	0.08%
CRSP	D	0.08%
VSEC	C	0.08%
INTA	B	0.08%
ST	F	0.08%
PRVA	C	0.08%
LBPH	A	0.08%
CHWY	B	0.08%
INSP	D	0.08%
PIPR	A	0.08%
TARS	C	0.08%
PRKS	B	0.08%
BWIN	C	0.08%
HR	B	0.08%
NTGR	B	0.08%
UNIT	B	0.08%
BOH	B	0.08%
MAC	B	0.08%
PRCT	B	0.08%
DOCS	C	0.08%
GVA	A	0.08%
PLMR	A	0.08%
MIR	A	0.08%
AAT	B	0.07%
SKT	A	0.07%
EE	A	0.07%
HI	C	0.07%
RARE	F	0.07%
UEC	B	0.07%
ESRT	C	0.07%
PECO	A	0.07%
HAFC	B	0.07%
TREX	C	0.07%
CWK	C	0.07%
GTES	A	0.07%
BDN	C	0.07%
VVX	C	0.07%
ENR	B	0.07%
SONO	C	0.07%
ZYME	C	0.07%
ALHC	C	0.07%
AZTA	D	0.07%
HIMS	B	0.07%
MHK	D	0.07%
HWKN	B	0.07%
GH	B	0.07%
BROS	A	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
VCTR	B	0.07%
HBI	B	0.07%
CTS	C	0.07%
WRBY	A	0.07%
PI	D	0.07%
SXT	C	0.07%
CCCS	B	0.07%
AZZ	A	0.07%
OUT	A	0.07%
PAR	A	0.07%
UNFI	A	0.07%
ATGE	B	0.06%
CBZ	B	0.06%
VRRM	F	0.06%
FNA	B	0.06%
WT	A	0.06%
SG	B	0.06%
TMCI	C	0.06%
DLX	B	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%
SATS	D	0.06%
W	D	0.06%
MBUU	B	0.06%
PTCT	B	0.06%
PLAY	D	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%
POWI	F	0.06%
CHH	A	0.06%
TGTX	B	0.06%
CWAN	B	0.06%
TDOC	C	0.06%
EXP	B	0.06%
ATEN	A	0.06%
CLH	C	0.06%
PNTG	D	0.06%
CLNE	F	0.06%
CMP	C	0.06%
MGNI	B	0.06%
CAKE	C	0.06%
RUSHB	C	0.06%
KROS	D	0.06%
FL	F	0.06%
VREX	B	0.06%
FROG	C	0.06%
SFBS	C	0.06%
PYCR	B	0.06%
CART	C	0.06%
BOOT	C	0.06%
SMTC	B	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%
EYE	C	0.06%
ADMA	B	0.06%
CLB	B	0.06%
MNKD	C	0.06%
TGI	B	0.06%
AVDX	B	0.06%
VNOM	A	0.06%
FRSH	B	0.06%
KE	C	0.06%
ENV	B	0.06%
FUN	C	0.06%
KREF	C	0.06%
VRNS	D	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%
PAHC	C	0.06%
MASI	B	0.06%
CALM	A	0.06%
IBOC	B	0.06%
RH	C	0.06%
VVI	C	0.06%
FFIN	B	0.06%
COMP	B	0.06%
OII	B	0.06%
PAYO	A	0.06%
BANC	B	0.06%
NARI	C	0.06%
SWTX	C	0.05%
RXST	F	0.05%
EWCZ	F	0.05%
TWST	F	0.05%
HZO	F	0.05%
AXL	C	0.05%
ARVN	F	0.05%
PBI	B	0.05%
NUVB	C	0.05%
ZEUS	C	0.05%
ETNB	C	0.05%
HLX	B	0.05%
ALRM	C	0.05%
IONS	F	0.05%
PLOW	D	0.05%
DOCN	C	0.05%
ARKO	C	0.05%
SHC	F	0.05%
CECO	B	0.05%
LEVI	F	0.05%
ICHR	C	0.05%
FTRE	D	0.05%
INFA	D	0.05%
CPRX	C	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%
WNC	C	0.05%
MLTX	B	0.05%
SLNO	C	0.05%
INVX	C	0.05%
PENN	C	0.05%
ASAN	B	0.05%
MLNK	C	0.05%
MPW	F	0.05%
AI	B	0.05%
AMBC	C	0.05%
PTGX	D	0.05%
BEAM	D	0.05%
AWR	B	0.05%
EDR	A	0.05%
RUN	F	0.05%
DGII	C	0.05%
REVG	C	0.05%
PRAA	D	0.05%
HAIN	D	0.05%
INFN	D	0.05%
SPR	D	0.05%
MNRO	D	0.05%
SMP	C	0.05%
VITL	D	0.05%
LCID	F	0.05%
ELVN	D	0.05%
MTTR	B	0.05%
KYMR	D	0.05%
EMBC	C	0.05%
NEO	C	0.05%
SLVM	B	0.05%
XPRO	D	0.05%
RAMP	B	0.05%
ZUO	B	0.05%
VYX	B	0.05%
OMCL	C	0.05%
MMI	C	0.05%
BGC	C	0.05%
JANX	C	0.05%
PDFS	C	0.05%
CSTL	D	0.05%
TMDX	F	0.05%
BE	B	0.05%
ADUS	D	0.05%
LIVN	F	0.05%
AORT	B	0.05%
SMPL	B	0.05%
KMPR	A	0.05%
EPR	C	0.05%
MDGL	B	0.05%
ASTE	C	0.05%
ARWR	D	0.05%
KVYO	C	0.05%
LOPE	C	0.05%
UFPT	C	0.05%
RNG	C	0.05%
HLIT	D	0.05%
TNC	D	0.05%
ARQT	B	0.05%
NUVL	C	0.05%
LEG	F	0.05%
YELP	C	0.05%
UAA	C	0.05%
MXL	C	0.05%
NCNO	C	0.05%
COLD	D	0.05%
CALX	D	0.05%
NBHC	C	0.05%
AGYS	A	0.05%
ALKT	B	0.05%
PD	C	0.05%
CRAI	C	0.05%
RCKT	F	0.04%
CLW	F	0.04%
HPP	F	0.04%
FORM	D	0.04%
BKD	F	0.04%
HOUS	F	0.04%
FLGT	F	0.04%
NEP	F	0.04%
KURA	F	0.04%
QS	F	0.04%
PRTA	F	0.04%
NTLA	F	0.04%
PGNY	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	D	0.04%
CGEM	F	0.04%
COUR	F	0.04%
SAVA	C	0.04%
LESL	D	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%
OSCR	D	0.04%
AMC	C	0.04%
PLUG	F	0.04%
DYN	F	0.04%
PLRX	D	0.04%
HL	D	0.04%
BBIO	F	0.04%
QDEL	F	0.04%
ARLO	C	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%
CWT	C	0.04%
THS	D	0.04%
KRYS	C	0.04%
RXRX	F	0.04%
TROX	D	0.04%
COGT	D	0.04%
RKT	F	0.04%
AHH	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%
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%
MYGN	F	0.03%
ETWO	F	0.03%
BRY	F	0.03%
MQ	D	0.03%
STAA	F	0.03%
JELD	F	0.03%
KELYA	F	0.03%
AGL	F	0.02%
MC	C	0.02%
NOVA	F	0.02%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	D	0.01%
MAGN	D	0.01%

ESML Underweight 404 Positions Relative to FAB

Symbol	Grade	Weight
UAL	A	-0.7%
SYF	B	-0.57%
DAL	B	-0.56%
GM	C	-0.56%
PCAR	B	-0.51%
FOXA	A	-0.49%
STLD	B	-0.48%
CVX	A	-0.48%
CINF	A	-0.48%
TROW	B	-0.48%
EOG	A	-0.48%
RS	B	-0.47%
COP	C	-0.47%
HPE	B	-0.46%
F	C	-0.46%
CTRA	B	-0.46%
XOM	B	-0.45%
WFC	A	-0.45%
AIG	B	-0.45%
HAL	C	-0.45%
VLO	C	-0.45%
CMCSA	B	-0.45%
DVN	F	-0.44%
T	A	-0.44%
NUE	C	-0.43%
COF	C	-0.43%
OXY	D	-0.43%
PSX	C	-0.43%
HBAN	A	-0.42%
KMI	A	-0.42%
MPC	D	-0.42%
EG	C	-0.41%
EQT	B	-0.41%
LNG	A	-0.41%
LEN	D	-0.4%
CFG	B	-0.4%
BG	D	-0.4%
OC	A	-0.39%
ETR	B	-0.39%
PHM	D	-0.39%
LYB	F	-0.38%
SRE	A	-0.38%
VTRS	A	-0.38%
C	A	-0.38%
CVS	D	-0.38%
ADM	D	-0.38%
CTSH	B	-0.37%
CRBG	B	-0.37%
L	A	-0.37%
XEL	A	-0.37%
FANG	C	-0.37%
INTC	C	-0.37%
FDX	B	-0.37%
ALLY	C	-0.36%
CNP	A	-0.36%
AEE	A	-0.36%
KR	B	-0.36%
SLB	C	-0.36%
ATO	A	-0.36%
HIG	B	-0.35%
CB	C	-0.35%
CF	A	-0.35%
ZBH	C	-0.35%
APTV	F	-0.33%
EXC	C	-0.33%
SNA	A	-0.32%
VZ	C	-0.32%
DG	F	-0.32%
ED	C	-0.32%
ON	D	-0.32%
MS	A	-0.32%
MTB	A	-0.31%
CHTR	C	-0.31%
BAC	A	-0.3%
SWKS	F	-0.3%
IP	A	-0.3%
DHI	F	-0.3%
BKR	A	-0.3%
RF	A	-0.29%
TDY	B	-0.28%
LUV	C	-0.28%
TRV	B	-0.28%
USB	A	-0.28%
FITB	B	-0.28%
NI	A	-0.27%
STT	B	-0.27%
CNC	D	-0.27%
PPL	A	-0.26%
MTDR	B	-0.26%
DGX	A	-0.26%
TXT	D	-0.25%
D	C	-0.25%
NOG	B	-0.25%
LNT	A	-0.25%
AFL	B	-0.25%
EQR	C	-0.25%
ULTA	F	-0.25%
TGT	F	-0.25%
OVV	B	-0.25%
DTE	C	-0.24%
CE	F	-0.24%
BLDR	D	-0.24%
HP	C	-0.24%
DE	B	-0.24%
EBAY	D	-0.24%
HRL	D	-0.24%
DUK	C	-0.24%
SYY	D	-0.24%
BBY	D	-0.23%
STX	C	-0.23%
RJF	A	-0.23%
KHC	F	-0.23%
AEP	C	-0.23%
TAP	C	-0.23%
AMR	C	-0.22%
CHRD	D	-0.22%
BIIB	F	-0.22%
NFE	D	-0.22%
URBN	C	-0.22%
AKAM	D	-0.22%
DINO	D	-0.21%
OKE	A	-0.21%
ZM	C	-0.21%
DOW	F	-0.21%
CXW	C	-0.21%
LBRT	D	-0.2%
PNC	B	-0.2%
DIS	B	-0.2%
G	B	-0.2%
RIOT	C	-0.2%
MATX	C	-0.2%
APA	D	-0.2%
KEY	B	-0.2%
KIM	A	-0.19%
JBHT	C	-0.19%
TSN	B	-0.19%
CSCO	B	-0.19%
NWSA	A	-0.19%
PKG	A	-0.19%
MGY	A	-0.19%
DDS	B	-0.19%
OTTR	C	-0.18%
GBDC	D	-0.18%
BKH	A	-0.18%
PNW	A	-0.18%
HPQ	B	-0.18%
ADTN	A	-0.18%
DRI	B	-0.18%
CSX	C	-0.18%
PRU	A	-0.18%
ASO	F	-0.18%
BEN	C	-0.18%
POR	C	-0.17%
CMS	C	-0.17%
NVR	D	-0.17%
SOLV	D	-0.17%
BBWI	C	-0.17%
MOS	F	-0.17%
HST	C	-0.17%
FNF	B	-0.17%
EVRG	A	-0.17%
WEC	A	-0.17%
SSNC	B	-0.17%
MOH	F	-0.16%
KDP	F	-0.16%
HUM	C	-0.16%
ARE	F	-0.16%
BMBL	C	-0.16%
FE	C	-0.16%
DOC	C	-0.16%
CARR	C	-0.16%
PPG	F	-0.16%
HSY	F	-0.16%
JNJ	C	-0.16%
EIX	B	-0.16%
AMKR	D	-0.15%
SANM	B	-0.15%
CTOS	B	-0.15%
ECVT	C	-0.15%
WLK	D	-0.15%
BFH	C	-0.15%
FNB	A	-0.15%
UHS	D	-0.15%
GIS	D	-0.15%
HTZ	C	-0.15%
GPC	D	-0.15%
RIG	D	-0.14%
ELV	F	-0.14%
KMT	B	-0.14%
EIG	B	-0.14%
JBL	C	-0.14%
ULH	C	-0.14%
GMS	B	-0.14%
VTLE	C	-0.14%
LKQ	F	-0.13%
GIII	D	-0.13%
WS	C	-0.13%
BTU	B	-0.13%
CRGY	B	-0.13%
SPNT	B	-0.13%
PAG	B	-0.13%
APLE	B	-0.13%
RLJ	C	-0.13%
GPOR	B	-0.13%
OGE	A	-0.13%
RES	D	-0.12%
EMN	C	-0.12%
BY	B	-0.12%
PEBO	B	-0.12%
PRDO	B	-0.12%
SJM	D	-0.12%
TRMK	C	-0.12%
IMKTA	C	-0.12%
SHO	D	-0.12%
ENS	F	-0.12%
PARR	F	-0.12%
PLAB	C	-0.12%
INVA	D	-0.12%
UVV	B	-0.12%
VSH	F	-0.11%
WMK	C	-0.11%
SEB	F	-0.11%
SAH	C	-0.11%
DBRG	F	-0.11%
USM	B	-0.11%
PHIN	A	-0.11%
EBC	B	-0.11%
OLN	F	-0.11%
GHC	B	-0.11%
FOR	F	-0.11%
NWE	B	-0.1%
HII	F	-0.1%
CMI	A	-0.1%
ODFL	C	-0.1%
ABR	C	-0.1%
OEC	C	-0.1%
NAVI	F	-0.1%
IDA	A	-0.1%
PB	B	-0.1%
EQC	B	-0.1%
LZB	B	-0.1%
BV	C	-0.1%
CENTA	C	-0.1%
LADR	B	-0.1%
GEO	B	-0.1%
CVI	F	-0.1%
SEIC	B	-0.1%
SCSC	C	-0.1%
HOV	D	-0.1%
DRH	B	-0.1%
PII	F	-0.1%
GES	F	-0.1%
MLI	B	-0.1%
HD	B	-0.09%
FRME	B	-0.09%
WTRG	B	-0.09%
PFG	D	-0.09%
MSM	C	-0.09%
CRL	D	-0.09%
PFBC	B	-0.09%
OMC	C	-0.09%
CLX	A	-0.09%
SBUX	A	-0.09%
UFPI	C	-0.09%
ACN	B	-0.09%
WSBC	B	-0.09%
CATY	B	-0.09%
CRK	B	-0.09%
SLGN	A	-0.09%
CASH	B	-0.09%
LHX	C	-0.09%
KNX	C	-0.09%
WRB	A	-0.09%
ADNT	F	-0.09%
PNM	B	-0.09%
APD	A	-0.09%
LH	B	-0.09%
IEX	C	-0.09%
J	D	-0.09%
AIZ	A	-0.09%
PYPL	B	-0.09%
BOKF	B	-0.09%
BUSE	B	-0.08%
MDLZ	F	-0.08%
WPC	C	-0.08%
TKR	D	-0.08%
AWK	C	-0.08%
REYN	D	-0.08%
MCRI	A	-0.08%
CPB	D	-0.08%
WY	F	-0.08%
PTVE	B	-0.08%
LMT	D	-0.08%
EXPD	C	-0.08%
DAN	D	-0.08%
HOPE	C	-0.08%
SKX	D	-0.08%
DD	C	-0.08%
CI	D	-0.08%
IPG	D	-0.08%
FCF	B	-0.08%
SRCE	B	-0.08%
MAS	D	-0.08%
HUBG	A	-0.08%
NX	C	-0.08%
LAUR	A	-0.08%
HOLX	D	-0.08%
BKE	B	-0.08%
MDT	D	-0.08%
FTV	C	-0.08%
TCBK	C	-0.08%
KALU	C	-0.08%
KEYS	A	-0.08%
GD	D	-0.08%
WSFS	B	-0.08%
PEP	F	-0.08%
HY	D	-0.08%
UPS	C	-0.08%
CTVA	C	-0.08%
NDSN	B	-0.08%
SFNC	C	-0.08%
MIDD	C	-0.08%
MAA	B	-0.08%
LOW	C	-0.08%
TTMI	C	-0.07%
LC	A	-0.07%
LILAK	D	-0.07%
MRTN	D	-0.07%
CAG	F	-0.07%
UNF	B	-0.07%
NKE	F	-0.07%
IPGP	D	-0.07%
DIOD	D	-0.07%
UHAL	D	-0.07%
SBCF	B	-0.06%
FBNC	B	-0.06%
FHI	B	-0.06%
PBH	A	-0.06%
DFH	D	-0.06%
NIC	B	-0.06%
SNEX	B	-0.06%
HMN	B	-0.06%
FHB	B	-0.06%
SCVL	F	-0.06%
SSTK	F	-0.06%
LGIH	F	-0.06%
AFG	A	-0.05%
PATK	C	-0.05%
ALIT	C	-0.05%
DNB	B	-0.05%
SHEN	F	-0.05%
PFGC	B	-0.05%
SYNA	C	-0.05%
OFG	B	-0.05%
CXT	C	-0.05%
ARI	C	-0.05%
ALEX	B	-0.05%
KWR	C	-0.05%
HTH	C	-0.05%
STBA	B	-0.05%
WAFD	B	-0.05%
TOWN	B	-0.05%
EPAM	B	-0.05%
HLF	C	-0.05%
NWBI	B	-0.05%
UPWK	B	-0.04%
FBIN	D	-0.04%
NSP	F	-0.04%
IAC	F	-0.04%
HSIC	C	-0.04%
AVNS	F	-0.04%
TTC	C	-0.04%
MGM	D	-0.04%
ODP	F	-0.04%
SAFT	B	-0.03%
HLIO	B	-0.03%
GNW	A	-0.03%
IVT	A	-0.03%
CVCO	A	-0.03%
ROIC	A	-0.03%
SAM	C	-0.03%
FDP	B	-0.03%
BHF	C	-0.03%
FBK	C	-0.03%
MCW	C	-0.03%
MGPI	F	-0.03%
TCBI	C	-0.03%
OLPX	D	-0.02%
BLMN	F	-0.02%
GIC	D	-0.02%
OXM	F	-0.02%
AIN	C	-0.02%
MSGE	F	-0.02%
RC	D	-0.02%
CMTG	F	-0.02%
SHLS	F	-0.02%
CNXN	C	-0.02%
NVEE	F	-0.02%
KFRC	D	-0.02%
NNI	D	-0.02%
NMRK	C	-0.02%
OI	C	-0.02%
MSEX	C	-0.02%
EVTC	B	-0.02%