ESML vs. FELV ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Fidelity Enhanced Large Cap Value ETF (FELV)

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

FELV

Fidelity Enhanced Large Cap Value ETF

FELV Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 1000® Value Index, which is a market capitalization-weighted index designed to measure the performance of the large-cap value segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$32.56

Average Daily Volume

106,908

Number of Holdings ^*

332

* may have additional holdings in another (foreign) market

Performance

Period	ESML	FELV
30 Days	8.75%	4.38%
60 Days	8.59%	5.85%
90 Days	9.69%	7.57%
12 Months	34.45%	29.90%

65 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in FELV	Overlap
ACA	A	0.14%	0.17%	0.14%
ALKS	B	0.09%	0.03%	0.03%
ALRM	C	0.05%	0.08%	0.05%
AM	A	0.15%	0.04%	0.04%
ANF	C	0.14%	0.28%	0.14%
ARW	D	0.09%	0.06%	0.06%
AXS	A	0.19%	0.01%	0.01%
AXTA	A	0.26%	0.03%	0.03%
AYI	B	0.32%	0.02%	0.02%
BCC	B	0.16%	0.11%	0.11%
BERY	B	0.18%	0.02%	0.02%
BLD	D	0.25%	0.11%	0.11%
BRX	A	0.16%	0.35%	0.16%
BYD	C	0.06%	0.07%	0.06%
CACI	D	0.2%	0.46%	0.2%
CNO	A	0.19%	0.09%	0.09%
CRC	B	0.1%	0.1%	0.1%
CRUS	D	0.15%	0.09%	0.09%
CVNA	B	0.48%	0.62%	0.48%
CW	B	0.23%	0.05%	0.05%
CWEN	C	0.07%	0.04%	0.04%
CWEN	C	0.05%	0.04%	0.04%
CWEN	C	0.05%	0.02%	0.02%
CWEN	C	0.07%	0.02%	0.02%
DBX	B	0.15%	0.42%	0.15%
FLS	B	0.16%	0.25%	0.16%
FR	C	0.09%	0.28%	0.09%
FTDR	A	0.22%	0.01%	0.01%
FTI	A	0.37%	0.19%	0.19%
GAP	C	0.12%	0.25%	0.12%
GL	B	0.12%	0.28%	0.12%
HL	D	0.04%	0.04%	0.04%
INGR	B	0.4%	0.04%	0.04%
ITRI	B	0.19%	0.02%	0.02%
ITT	A	0.29%	0.18%	0.18%
JXN	C	0.14%	0.15%	0.14%
KD	B	0.12%	0.09%	0.09%
LEG	F	0.05%	0.06%	0.05%
LNW	D	0.19%	0.17%	0.17%
LPX	B	0.17%	0.33%	0.17%
LYFT	C	0.1%	0.07%	0.07%
M	D	0.12%	0.01%	0.01%
MEDP	D	0.15%	0.16%	0.15%
MHO	D	0.05%	0.1%	0.05%
MSA	D	0.17%	0.03%	0.03%
MUR	D	0.13%	0.01%	0.01%
MWA	B	0.25%	0.01%	0.01%
NWL	B	0.09%	0.06%	0.06%
OGN	D	0.08%	0.02%	0.02%
RGA	A	0.29%	0.03%	0.03%
SEE	C	0.07%	0.25%	0.07%
SON	D	0.11%	0.01%	0.01%
TDC	D	0.1%	0.27%	0.1%
TENB	C	0.1%	0.08%	0.08%
TMHC	B	0.17%	0.18%	0.17%
TNL	A	0.16%	0.01%	0.01%
TOL	B	0.26%	0.28%	0.26%
TPH	D	0.14%	0.35%	0.14%
TPR	B	0.28%	0.1%	0.1%
UNM	A	0.25%	0.38%	0.25%
USFD	A	0.5%	0.19%	0.19%
VAC	B	0.08%	0.04%	0.04%
VMI	B	0.13%	0.2%	0.13%
VSTS	C	0.05%	0.06%	0.05%
WCC	B	0.23%	0.07%	0.07%

ESML Overweight 841 Positions Relative to FELV

Symbol	Grade	Weight
CASY	A	0.53%
JHG	A	0.5%
SFM	A	0.44%
GWRE	A	0.44%
FIX	A	0.42%
EWBC	A	0.4%
NTNX	A	0.36%
KBR	F	0.35%
FLEX	A	0.35%
NTRA	B	0.34%
MUSA	A	0.34%
IBKR	A	0.34%
XPO	B	0.33%
JLL	D	0.33%
OGS	A	0.32%
GBCI	B	0.3%
SNV	B	0.3%
DTM	B	0.3%
BWXT	B	0.3%
RGLD	C	0.3%
REXR	F	0.3%
FRT	B	0.3%
OSK	B	0.29%
SUM	B	0.29%
CNX	A	0.29%
COHR	B	0.29%
BMI	B	0.29%
PNFP	B	0.29%
AFRM	B	0.28%
EHC	B	0.28%
SAIA	B	0.28%
R	B	0.28%
AVT	C	0.27%
SSB	B	0.27%
BJ	A	0.27%
WBS	A	0.27%
SCI	B	0.27%
SIGI	C	0.27%
FTAI	B	0.26%
ALSN	B	0.26%
GPK	C	0.26%
UMBF	B	0.26%
RRC	B	0.26%
UGI	A	0.25%
AAON	B	0.25%
IVZ	B	0.24%
PRGS	A	0.24%
ARMK	B	0.24%
SOFI	A	0.24%
MOG.A	B	0.24%
HRI	B	0.24%
AR	B	0.24%
NCLH	B	0.24%
DCI	B	0.24%
RNR	C	0.24%
WEX	D	0.24%
ALK	C	0.23%
CBSH	A	0.23%
CNM	D	0.23%
PRI	A	0.23%
FHN	A	0.23%
EXLS	B	0.23%
REZI	A	0.23%
ATR	B	0.23%
AWI	A	0.23%
MTG	C	0.23%
CUZ	B	0.22%
CVLT	B	0.22%
LAD	A	0.22%
CMC	B	0.22%
NJR	A	0.22%
PLNT	A	0.21%
WTS	B	0.21%
RHI	B	0.21%
BFAM	D	0.21%
NFG	A	0.21%
ONTO	D	0.21%
THC	D	0.21%
GNRC	B	0.21%
CDP	C	0.21%
AA	B	0.21%
GME	C	0.21%
INSM	C	0.21%
WAL	B	0.21%
FELE	B	0.21%
HOG	D	0.2%
LECO	B	0.2%
KBH	D	0.2%
FRPT	B	0.2%
BDC	B	0.2%
PCTY	B	0.2%
FBP	B	0.2%
PCVX	D	0.2%
BHLB	B	0.2%
ZION	B	0.2%
EGP	F	0.2%
CMA	A	0.2%
LSTR	D	0.2%
CR	A	0.2%
KNSL	B	0.2%
CUBE	D	0.2%
MTN	C	0.2%
OMF	A	0.2%
NVT	B	0.2%
TGNA	B	0.2%
ENSG	D	0.2%
FND	C	0.2%
WMS	D	0.2%
HHH	B	0.2%
ZWS	B	0.2%
RLI	B	0.2%
WK	B	0.2%
ENLC	A	0.19%
FCN	D	0.19%
WING	D	0.19%
GPI	A	0.19%
DAR	C	0.19%
DUOL	A	0.19%
OHI	C	0.19%
WWD	B	0.19%
WHR	B	0.19%
AVA	A	0.19%
RHP	B	0.19%
SNDR	B	0.19%
PR	B	0.19%
KNTK	B	0.19%
MDU	D	0.19%
PCOR	B	0.18%
SRPT	D	0.18%
ESTC	C	0.18%
MORN	B	0.18%
MOD	A	0.18%
THG	A	0.18%
GATX	A	0.18%
MTZ	B	0.18%
HRB	D	0.18%
CIEN	B	0.18%
ONB	B	0.18%
GKOS	B	0.18%
HAS	D	0.18%
AMG	B	0.18%
EPRT	B	0.18%
TKO	B	0.18%
NOVT	D	0.18%
SPXC	A	0.18%
PCH	D	0.17%
UBSI	B	0.17%
CHX	C	0.17%
LAZ	B	0.17%
VFC	C	0.17%
DLB	B	0.17%
LUMN	C	0.17%
ASB	B	0.17%
HQY	B	0.17%
BWA	D	0.17%
NYT	C	0.17%
WSC	D	0.17%
BANR	B	0.17%
PEN	B	0.17%
SF	B	0.17%
PLXS	B	0.17%
PVH	C	0.16%
WFRD	D	0.16%
CRS	A	0.16%
BHE	B	0.16%
FAF	A	0.16%
MTH	D	0.16%
SITE	D	0.16%
ACIW	B	0.16%
VOYA	B	0.16%
JAZZ	B	0.16%
GXO	B	0.16%
GTLB	B	0.16%
ECG	C	0.16%
SPSC	C	0.16%
SLM	A	0.16%
AEIS	B	0.16%
EAT	A	0.16%
PRIM	A	0.15%
SR	A	0.15%
BILL	A	0.15%
VNT	B	0.15%
ATI	D	0.15%
CPF	A	0.15%
CROX	D	0.15%
ITCI	C	0.15%
KTB	B	0.15%
X	C	0.15%
FMC	D	0.15%
RKLB	B	0.15%
FIBK	A	0.15%
HNI	B	0.15%
RRX	B	0.15%
NOV	C	0.15%
MMSI	B	0.15%
VVV	F	0.15%
FN	D	0.15%
MYRG	B	0.15%
FSS	B	0.15%
RGEN	D	0.15%
ELAN	D	0.15%
CFLT	B	0.15%
TTEK	F	0.15%
LSCC	D	0.15%
OZK	B	0.14%
CHE	D	0.14%
CHDN	B	0.14%
KNF	A	0.14%
CZR	F	0.14%
KLIC	B	0.14%
ESI	A	0.14%
AZEK	A	0.14%
SMAR	A	0.14%
STRL	B	0.14%
RYAN	B	0.14%
AGCO	D	0.14%
IBCP	B	0.14%
ALTR	B	0.14%
TPX	B	0.14%
GTLS	B	0.14%
MKSI	C	0.14%
RMBS	C	0.14%
IDCC	A	0.14%
CADE	B	0.14%
NPO	A	0.14%
WH	B	0.14%
BECN	B	0.14%
VLY	B	0.14%
QTWO	A	0.13%
AIT	A	0.13%
CBT	C	0.13%
BOX	B	0.13%
FYBR	D	0.13%
BRKR	D	0.13%
COLB	A	0.13%
LFUS	F	0.13%
ITGR	B	0.13%
CABO	C	0.13%
ASGN	F	0.13%
HESM	B	0.13%
ELF	C	0.13%
SWX	B	0.13%
ORI	A	0.13%
CAVA	B	0.13%
PINC	B	0.13%
HIW	D	0.13%
PDCO	D	0.13%
HXL	D	0.13%
LRN	A	0.13%
CRDO	B	0.13%
BCPC	B	0.13%
CPK	A	0.13%
WTM	A	0.13%
YETI	C	0.12%
HAE	C	0.12%
RDUS	C	0.12%
AGNC	D	0.12%
CVBF	A	0.12%
DFIN	D	0.12%
AVAV	D	0.12%
EVR	B	0.12%
WERN	C	0.12%
ABG	B	0.12%
BLKB	B	0.12%
NSIT	F	0.12%
ADT	C	0.12%
MTX	B	0.12%
THO	B	0.12%
WHD	B	0.12%
S	B	0.12%
MAT	D	0.12%
FULT	A	0.12%
EPAC	B	0.12%
CSGS	B	0.11%
CRNX	C	0.11%
AUB	B	0.11%
MARA	C	0.11%
DXC	B	0.11%
ORA	B	0.11%
KRC	C	0.11%
AROC	B	0.11%
SHOO	D	0.11%
LCII	C	0.11%
ABCB	B	0.11%
LBRDA	C	0.11%
WDFC	B	0.11%
JEF	A	0.11%
MRCY	B	0.11%
FLR	B	0.11%
CCOI	B	0.11%
ECPG	B	0.11%
LNTH	D	0.11%
IRDM	D	0.11%
GMED	A	0.11%
OLLI	D	0.11%
APPF	B	0.11%
EFSC	B	0.11%
CYTK	F	0.11%
PATH	C	0.11%
WGO	C	0.11%
ADC	B	0.11%
KOS	F	0.11%
KAR	B	0.11%
RXO	C	0.1%
RVMD	C	0.1%
PJT	A	0.1%
VECO	F	0.1%
SCL	C	0.1%
HCP	B	0.1%
TRN	C	0.1%
CAC	B	0.1%
FIVE	F	0.1%
FUL	F	0.1%
SSD	D	0.1%
HASI	D	0.1%
DV	C	0.1%
DY	D	0.1%
CGNX	C	0.1%
APAM	B	0.1%
TRNO	F	0.1%
STWD	C	0.1%
TXRH	C	0.1%
U	C	0.1%
AMAL	B	0.1%
ETSY	D	0.1%
LITE	B	0.1%
PSN	D	0.1%
FA	C	0.1%
RDNT	B	0.1%
BRBR	A	0.1%
AL	B	0.1%
SLG	B	0.1%
XENE	D	0.1%
LEA	D	0.1%
VKTX	F	0.1%
ALTM	C	0.1%
PFSI	D	0.1%
SIG	B	0.1%
DRS	B	0.1%
PEGA	A	0.1%
DNLI	D	0.09%
INSP	D	0.09%
GVA	A	0.09%
RDN	C	0.09%
KFY	B	0.09%
ABM	B	0.09%
LNN	B	0.09%
AVPT	A	0.09%
TDS	B	0.09%
CNK	B	0.09%
ZI	D	0.09%
MGRC	B	0.09%
SLAB	D	0.09%
NMIH	D	0.09%
BRC	D	0.09%
PLMR	B	0.09%
UNIT	B	0.09%
RL	B	0.09%
CHWY	B	0.09%
CURB	D	0.09%
HWC	B	0.09%
MIR	A	0.09%
POWL	C	0.09%
OPCH	D	0.09%
POST	C	0.09%
UPST	B	0.09%
PRCT	B	0.09%
NXST	C	0.09%
MTSI	B	0.09%
ACHC	F	0.09%
VC	D	0.09%
LNC	B	0.09%
SJW	D	0.09%
BHVN	D	0.09%
IMAX	B	0.09%
NXT	C	0.09%
BE	B	0.09%
IBP	D	0.09%
ESE	B	0.09%
CFR	B	0.09%
HALO	F	0.09%
CRVL	A	0.09%
TILE	B	0.08%
OLED	D	0.08%
CRSP	D	0.08%
UEC	B	0.08%
KOP	C	0.08%
CCCS	B	0.08%
SASR	B	0.08%
PRVA	B	0.08%
AEO	F	0.08%
BPMC	C	0.08%
ENR	B	0.08%
VCTR	B	0.08%
DOCS	C	0.08%
SNX	C	0.08%
BXMT	C	0.08%
TBBK	B	0.08%
BL	B	0.08%
IESC	B	0.08%
BROS	B	0.08%
NWN	A	0.08%
PRKS	C	0.08%
KTOS	B	0.08%
ERII	D	0.08%
BPOP	B	0.08%
WRBY	B	0.08%
PAR	B	0.08%
ALG	B	0.08%
LBPH	A	0.08%
PLYA	B	0.08%
INDB	B	0.08%
TEX	D	0.08%
TARS	B	0.08%
HIMS	B	0.08%
INTA	A	0.08%
NTGR	B	0.08%
ENOV	C	0.08%
UNFI	A	0.08%
BOH	B	0.08%
PIPR	B	0.08%
HR	C	0.08%
STC	B	0.08%
AUR	C	0.08%
ZD	C	0.08%
AZZ	B	0.08%
MAC	B	0.08%
VNO	B	0.08%
JBT	B	0.08%
WEN	D	0.08%
AMED	F	0.08%
ATKR	C	0.08%
BWIN	D	0.08%
SHAK	C	0.08%
RNST	B	0.08%
VSCO	B	0.07%
TDOC	C	0.07%
ICFI	F	0.07%
AAT	B	0.07%
OII	B	0.07%
GT	C	0.07%
MASI	A	0.07%
CALM	A	0.07%
SKT	B	0.07%
SONO	C	0.07%
TREX	C	0.07%
SG	B	0.07%
RH	B	0.07%
PECO	A	0.07%
CWK	B	0.07%
VERX	B	0.07%
ESNT	D	0.07%
HAFC	A	0.07%
MHK	D	0.07%
AVNT	B	0.07%
WU	D	0.07%
ESRT	C	0.07%
PRGO	B	0.07%
PAYO	A	0.07%
FOUR	B	0.07%
ROG	D	0.07%
GTES	A	0.07%
VVX	C	0.07%
FIVN	C	0.07%
VREX	C	0.07%
CMP	C	0.07%
ACLX	C	0.07%
XHR	B	0.07%
CTS	C	0.07%
GH	B	0.07%
HWKN	B	0.07%
BC	C	0.07%
BDN	C	0.07%
ATRC	C	0.07%
AMWD	C	0.07%
EE	A	0.07%
SXT	B	0.07%
RNA	D	0.07%
SEM	B	0.07%
ST	F	0.07%
WTFC	A	0.07%
SPB	C	0.07%
EWTX	C	0.07%
AZTA	D	0.07%
ICUI	D	0.07%
AN	C	0.07%
HBI	B	0.07%
IOSP	B	0.07%
EVRI	A	0.07%
OUT	A	0.07%
VSEC	C	0.07%
PI	D	0.07%
SBRA	C	0.07%
TNET	D	0.07%
MRUS	F	0.06%
LXP	D	0.06%
CBZ	B	0.06%
CMCO	B	0.06%
PRO	C	0.06%
CC	C	0.06%
AGIO	C	0.06%
AXSM	B	0.06%
PTCT	B	0.06%
MBUU	C	0.06%
HCC	B	0.06%
POWI	D	0.06%
NBTB	B	0.06%
CLH	B	0.06%
ATEN	B	0.06%
VRDN	D	0.06%
MGNI	A	0.06%
COLD	D	0.06%
ALKT	B	0.06%
ATGE	B	0.06%
SFBS	B	0.06%
MXL	C	0.06%
TMCI	D	0.06%
WT	B	0.06%
PBF	D	0.06%
MDGL	B	0.06%
EXP	A	0.06%
RUSHB	B	0.06%
COKE	C	0.06%
AGO	B	0.06%
AIR	B	0.06%
ZYME	C	0.06%
CALX	D	0.06%
IRON	B	0.06%
VBTX	B	0.06%
CHH	A	0.06%
PYCR	C	0.06%
HAIN	C	0.06%
FROG	C	0.06%
FNA	C	0.06%
ANDE	D	0.06%
CWAN	B	0.06%
PLUS	F	0.06%
AGYS	A	0.06%
CART	C	0.06%
MNKD	C	0.06%
VRNS	D	0.06%
SATS	D	0.06%
PPBI	B	0.06%
HURN	B	0.06%
PAHC	C	0.06%
TALO	C	0.06%
PK	B	0.06%
MAN	D	0.06%
CCS	D	0.06%
FUN	C	0.06%
ROIV	C	0.06%
BOOT	D	0.06%
VVI	C	0.06%
SM	B	0.06%
W	F	0.06%
KE	C	0.06%
APG	B	0.06%
ENV	B	0.06%
HELE	C	0.06%
AVDX	B	0.06%
PEB	D	0.06%
PDM	D	0.06%
FRSH	C	0.06%
BKU	A	0.06%
KREF	D	0.06%
WD	D	0.06%
IBOC	A	0.06%
FLYW	C	0.06%
NVST	B	0.06%
TGTX	B	0.06%
RARE	D	0.06%
EYE	C	0.06%
FFIN	B	0.06%
OWL	A	0.06%
ADMA	B	0.06%
LBRDK	C	0.06%
SMTC	B	0.06%
CLB	B	0.06%
ACVA	B	0.06%
HI	C	0.06%
UPBD	B	0.06%
CBU	B	0.06%
BANC	A	0.06%
CLF	F	0.06%
COLM	B	0.06%
DEA	D	0.06%
HGV	B	0.06%
NARI	C	0.06%
COMP	B	0.06%
AI	B	0.06%
TGI	B	0.06%
ALHC	C	0.06%
GBX	A	0.06%
VNOM	A	0.06%
LGF.A	C	0.05%
ARVN	D	0.05%
MNRO	D	0.05%
FTRE	D	0.05%
BNL	D	0.05%
RXST	F	0.05%
AXL	C	0.05%
PLOW	D	0.05%
THS	D	0.05%
CPRX	C	0.05%
RUN	F	0.05%
PGRE	F	0.05%
PENN	C	0.05%
NRIX	D	0.05%
ARCB	C	0.05%
RYN	D	0.05%
KLG	C	0.05%
ACEL	C	0.05%
TMDX	F	0.05%
WNC	C	0.05%
JANX	C	0.05%
EMBC	C	0.05%
DOCN	D	0.05%
MLTX	B	0.05%
FLG	C	0.05%
ZEUS	C	0.05%
MLNK	B	0.05%
SMP	B	0.05%
PBI	B	0.05%
PFS	B	0.05%
TWST	D	0.05%
CNMD	C	0.05%
PSMT	C	0.05%
KYMR	D	0.05%
ICHR	C	0.05%
MPW	F	0.05%
XPEL	C	0.05%
PLAY	D	0.05%
OMCL	C	0.05%
SLNO	B	0.05%
CSTL	D	0.05%
TROX	D	0.05%
SAVA	D	0.05%
DGII	B	0.05%
AWR	B	0.05%
ARKO	C	0.05%
REVG	B	0.05%
SBH	C	0.05%
GOGO	C	0.05%
INFA	D	0.05%
HLX	B	0.05%
MODG	F	0.05%
ASAN	C	0.05%
NEO	C	0.05%
PTGX	C	0.05%
INFN	C	0.05%
AMBC	C	0.05%
XRAY	F	0.05%
LCID	F	0.05%
UAA	C	0.05%
BGC	C	0.05%
EDR	A	0.05%
PRG	C	0.05%
RNG	B	0.05%
WKC	D	0.05%
MMI	B	0.05%
MTTR	B	0.05%
CDE	D	0.05%
CLSK	C	0.05%
ZUO	B	0.05%
GERN	D	0.05%
PDFS	C	0.05%
IART	C	0.05%
AAP	C	0.05%
ELVN	D	0.05%
KROS	D	0.05%
HAYW	B	0.05%
LIVN	F	0.05%
ADUS	D	0.05%
MRC	B	0.05%
RUSHA	C	0.05%
VYX	B	0.05%
SPR	D	0.05%
CAR	C	0.05%
LOPE	B	0.05%
GO	C	0.05%
ASTE	B	0.05%
YELP	C	0.05%
UFPT	B	0.05%
XPRO	F	0.05%
FFBC	A	0.05%
INVX	C	0.05%
KVYO	C	0.05%
BASE	C	0.05%
CUBI	C	0.05%
MTRN	C	0.05%
DCO	C	0.05%
VERA	B	0.05%
HLIT	D	0.05%
EPR	D	0.05%
NBHC	B	0.05%
NCNO	B	0.05%
KMPR	B	0.05%
DNOW	B	0.05%
TNC	D	0.05%
SLVM	B	0.05%
GEF	A	0.05%
SKY	A	0.05%
DLX	B	0.05%
IDYA	F	0.05%
CLNE	D	0.05%
VRNT	C	0.05%
RBBN	C	0.05%
EXPO	D	0.05%
JBGS	D	0.05%
PNTG	D	0.05%
VRRM	D	0.05%
CECO	A	0.05%
AORT	B	0.05%
CRAI	B	0.05%
JWN	C	0.05%
CLVT	F	0.05%
RAMP	C	0.05%
FL	F	0.05%
COOP	B	0.05%
VRTS	B	0.05%
VITL	D	0.05%
MOV	C	0.05%
SMPL	B	0.05%
ROCK	C	0.05%
ARQT	C	0.05%
PD	C	0.05%
CIVI	D	0.05%
NUVL	D	0.05%
GEF	A	0.05%
CAKE	C	0.05%
FLGT	F	0.04%
OMI	F	0.04%
NEP	F	0.04%
FOXF	F	0.04%
BKD	D	0.04%
ARCT	F	0.04%
RXRX	F	0.04%
JAMF	F	0.04%
CAL	D	0.04%
GPRE	F	0.04%
RCUS	F	0.04%
CRI	D	0.04%
SNDX	F	0.04%
FORM	D	0.04%
MMS	F	0.04%
CLW	F	0.04%
PENG	D	0.04%
IMVT	F	0.04%
NABL	F	0.04%
COUR	F	0.04%
SHC	F	0.04%
XRX	F	0.04%
CLDX	F	0.04%
EGY	D	0.04%
QS	F	0.04%
SIBN	F	0.04%
MLKN	D	0.04%
APGE	F	0.04%
HOUS	D	0.04%
PLUG	F	0.04%
CXM	C	0.04%
SPT	C	0.04%
PGNY	F	0.04%
BBIO	F	0.04%
DK	C	0.04%
AMC	C	0.04%
COGT	D	0.04%
QDEL	F	0.04%
DYN	F	0.04%
MTUS	C	0.04%
ASH	D	0.04%
LESL	C	0.04%
IONS	F	0.04%
PLRX	F	0.04%
TNDM	F	0.04%
NUVB	C	0.04%
IVR	F	0.04%
EWCZ	F	0.04%
MEI	D	0.04%
KSS	F	0.04%
GRBK	D	0.04%
PTEN	C	0.04%
OSCR	D	0.04%
FLO	D	0.04%
ETNB	C	0.04%
ESTA	D	0.04%
BEAM	D	0.04%
RKT	F	0.04%
AMN	F	0.04%
HZO	D	0.04%
NVCR	C	0.04%
NEOG	F	0.04%
CWT	D	0.04%
EPC	D	0.04%
AHH	D	0.04%
SWTX	C	0.04%
ARLO	C	0.04%
UCB	A	0.04%
THRM	D	0.04%
KRYS	B	0.04%
LEVI	F	0.04%
BRZE	C	0.04%
PRAA	C	0.04%
ARWR	F	0.04%
MEG	F	0.03%
ANAB	F	0.03%
TXG	F	0.03%
HPP	F	0.03%
NVAX	F	0.03%
CNXC	F	0.03%
SITC	D	0.03%
RCKT	F	0.03%
CGEM	F	0.03%
CPRI	F	0.03%
MYGN	F	0.03%
CDNA	D	0.03%
BRY	F	0.03%
KELYA	F	0.03%
APLS	D	0.03%
ETWO	F	0.03%
ALEC	F	0.03%
SVRA	D	0.03%
CRMT	C	0.03%
STAA	F	0.03%
PHAT	F	0.03%
CCRN	F	0.03%
PRTA	F	0.03%
MQ	F	0.03%
NTLA	F	0.03%
JELD	F	0.03%
AGL	F	0.02%
MC	C	0.02%
SEDG	F	0.02%
NOVA	F	0.02%
ASPN	F	0.02%
VSAT	F	0.02%
DEI	B	0.02%
WOLF	F	0.02%
KURA	F	0.02%
GDOT	D	0.01%
MAGN	F	0.01%

ESML Underweight 269 Positions Relative to FELV

Symbol	Grade	Weight
BRK.A	B	-3.64%
JPM	A	-2.93%
XOM	B	-2.51%
BAC	A	-1.77%
WMT	A	-1.76%
UNH	C	-1.57%
PM	B	-1.31%
PG	A	-1.24%
WFC	A	-1.22%
CMCSA	B	-1.13%
CSCO	B	-1.07%
GE	D	-1.05%
JNJ	D	-1.02%
T	A	-1.02%
GILD	C	-0.92%
SCHW	B	-0.88%
MU	D	-0.86%
PFE	D	-0.85%
ABBV	D	-0.85%
INTC	D	-0.85%
BMY	B	-0.84%
NEE	D	-0.81%
DIS	B	-0.8%
PYPL	B	-0.79%
ETN	A	-0.76%
UNP	C	-0.75%
BDX	F	-0.74%
TMO	F	-0.73%
SQ	B	-0.7%
PNC	B	-0.7%
RTX	C	-0.7%
VZ	C	-0.68%
RSG	A	-0.66%
LMT	D	-0.64%
NOC	D	-0.63%
SPGI	C	-0.63%
BK	A	-0.63%
MMM	D	-0.6%
CI	F	-0.6%
AON	A	-0.59%
SEIC	B	-0.58%
PPG	F	-0.57%
CCI	D	-0.57%
CME	A	-0.57%
NSC	B	-0.57%
TMUS	B	-0.56%
COP	C	-0.56%
ABT	B	-0.54%
CL	D	-0.54%
CAT	B	-0.54%
ALLE	D	-0.54%
MS	A	-0.54%
TXT	D	-0.53%
CVX	A	-0.53%
EOG	A	-0.53%
ZM	B	-0.52%
PSA	D	-0.52%
TT	A	-0.52%
ECL	D	-0.5%
QCOM	F	-0.5%
SSNC	B	-0.5%
DD	D	-0.48%
C	A	-0.48%
LDOS	C	-0.47%
COF	B	-0.47%
LIN	D	-0.46%
LHX	C	-0.45%
HD	A	-0.45%
WAB	B	-0.45%
CTAS	B	-0.43%
AMAT	F	-0.42%
MDT	D	-0.4%
PCG	A	-0.39%
PCAR	B	-0.39%
MMC	B	-0.38%
ADBE	C	-0.37%
BLK	C	-0.37%
IGT	F	-0.36%
L	A	-0.35%
PGR	A	-0.35%
EXEL	B	-0.35%
EVRG	A	-0.35%
CMI	A	-0.34%
CSX	B	-0.34%
ACN	C	-0.34%
NUE	C	-0.34%
GS	A	-0.34%
DVN	F	-0.34%
FTV	C	-0.33%
STLD	B	-0.33%
F	C	-0.33%
ZBRA	B	-0.32%
KR	B	-0.31%
CVS	D	-0.3%
CAH	B	-0.3%
TWLO	A	-0.3%
BIIB	F	-0.3%
MCD	D	-0.28%
VMC	B	-0.28%
DUK	C	-0.28%
VEEV	C	-0.28%
MO	A	-0.28%
MA	C	-0.28%
TRV	B	-0.28%
GEV	B	-0.28%
TJX	A	-0.28%
IBM	C	-0.27%
SYK	C	-0.26%
AME	A	-0.26%
WTW	B	-0.26%
VICI	C	-0.25%
CLX	B	-0.25%
XEL	A	-0.25%
WM	A	-0.25%
EXC	C	-0.24%
KMI	A	-0.24%
TFC	A	-0.24%
CNC	D	-0.23%
CINF	A	-0.22%
ED	D	-0.22%
Z	A	-0.22%
DOCU	A	-0.22%
OC	A	-0.22%
CRM	B	-0.22%
DOC	D	-0.22%
INCY	C	-0.22%
SKYW	B	-0.21%
MGM	D	-0.21%
META	D	-0.21%
HPE	B	-0.21%
JCI	C	-0.21%
AXP	A	-0.2%
MSI	B	-0.2%
EQIX	A	-0.2%
PNR	A	-0.19%
NFLX	A	-0.19%
DTE	C	-0.19%
ALL	A	-0.19%
BSX	B	-0.19%
MSCI	C	-0.19%
AAPL	C	-0.19%
KEY	B	-0.18%
SPG	B	-0.18%
ICE	C	-0.18%
ZG	A	-0.18%
EIX	B	-0.17%
NVDA	C	-0.17%
DHR	F	-0.17%
PRU	A	-0.17%
IQV	D	-0.17%
MKL	A	-0.17%
CEG	D	-0.17%
EQR	B	-0.17%
GEHC	F	-0.16%
TAP	C	-0.16%
QGEN	D	-0.16%
TXN	C	-0.16%
CCK	C	-0.16%
AES	F	-0.16%
PFG	D	-0.16%
BBY	D	-0.15%
STT	A	-0.15%
CNP	B	-0.15%
ILMN	D	-0.15%
AMGN	D	-0.15%
RCL	A	-0.15%
OXY	D	-0.15%
WDC	D	-0.14%
KMB	D	-0.14%
AMT	D	-0.14%
HUM	C	-0.14%
GD	F	-0.14%
HAL	C	-0.13%
PKG	A	-0.13%
WDAY	B	-0.13%
SWKS	F	-0.13%
CCL	B	-0.13%
ES	D	-0.13%
TROW	B	-0.13%
PH	A	-0.12%
SOLV	C	-0.12%
NTAP	C	-0.12%
ITW	B	-0.12%
AVGO	D	-0.12%
SO	D	-0.12%
WMB	A	-0.12%
EEFT	B	-0.12%
HWM	A	-0.12%
KHC	F	-0.12%
UHS	D	-0.12%
AIZ	A	-0.11%
QRVO	F	-0.11%
EA	A	-0.11%
ENS	D	-0.11%
ROST	C	-0.11%
GRMN	B	-0.11%
ELV	F	-0.11%
AMH	D	-0.11%
BMRN	D	-0.11%
ADTN	A	-0.1%
ADM	D	-0.1%
BKR	B	-0.1%
ADP	B	-0.1%
PEG	A	-0.1%
FANG	D	-0.09%
A	D	-0.09%
TRGP	B	-0.09%
MTDR	B	-0.09%
WBD	C	-0.09%
GPN	B	-0.09%
ACT	D	-0.09%
MCK	B	-0.09%
VRTX	F	-0.09%
AMZN	C	-0.08%
DASH	A	-0.08%
MKC	D	-0.08%
DELL	C	-0.08%
LH	C	-0.08%
HON	B	-0.08%
BBWI	D	-0.08%
IFF	D	-0.08%
AEP	D	-0.08%
VST	B	-0.07%
CMG	B	-0.07%
REG	B	-0.07%
LOW	D	-0.07%
NWSA	B	-0.06%
EW	C	-0.06%
UPS	C	-0.06%
MDLZ	F	-0.06%
OGE	B	-0.06%
NMRK	B	-0.06%
DFS	B	-0.05%
TRMB	B	-0.05%
SAM	C	-0.05%
CTRA	B	-0.05%
FHI	A	-0.05%
GLPI	C	-0.05%
PLTK	B	-0.05%
GIS	D	-0.05%
NEM	D	-0.05%
ADI	D	-0.04%
VLTO	D	-0.04%
CSGP	D	-0.04%
BKH	A	-0.04%
CTRE	D	-0.04%
SYF	B	-0.03%
TFX	F	-0.03%
KLAC	D	-0.03%
UAL	A	-0.03%
EXTR	B	-0.03%
WS	B	-0.03%
RJF	A	-0.03%
DHI	D	-0.03%
NWS	B	-0.03%
MATX	C	-0.03%
AMD	F	-0.02%
SWI	B	-0.02%
OKTA	C	-0.02%
BIO	D	-0.02%
WOOF	D	-0.02%
TGT	F	-0.01%
PHM	D	-0.01%
CXT	B	-0.01%
BLDR	D	-0.01%
ROP	B	-0.01%
DGX	A	-0.01%
ANSS	B	-0.01%
GLW	B	-0.01%