ESML vs. IBBQ ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to Invesco Nasdaq Biotechnology ETF (IBBQ)

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

IBBQ

Invesco Nasdaq Biotechnology ETF

IBBQ Description

The investment seeks to track the investment results (before fees and expenses) of the Nasdaq Biotechnology Index ®. The fund generally will invest at least 90% of its total assets in the securities that comprise the index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq compiles the underlying index, which is a modified market capitalization weighted index that is designed to measure the performance of securities listed on the Nasdaq Stock Market that are classified as either biotechnology or pharmaceutical companies. The index may include securities of large-, mid- and small-capitalization companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.64

Average Daily Volume

17,660

Number of Holdings ^*

195

* may have additional holdings in another (foreign) market

Performance

Period	ESML	IBBQ
30 Days	8.75%	-3.74%
60 Days	8.59%	-5.07%
90 Days	9.69%	-7.33%
12 Months	34.45%	19.53%

73 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in IBBQ	Overlap
ACLX	C	0.08%	0.51%	0.08%
ADMA	B	0.06%	0.48%	0.06%
AGIO	C	0.06%	0.33%	0.06%
ALEC	F	0.04%	0.04%	0.04%
ALKS	B	0.1%	0.5%	0.1%
ANAB	F	0.03%	0.06%	0.03%
APLS	D	0.03%	0.34%	0.03%
ARCT	F	0.04%	0.05%	0.04%
ARQT	C	0.05%	0.12%	0.05%
ARVN	D	0.05%	0.17%	0.05%
ARWR	F	0.05%	0.25%	0.05%
AXSM	B	0.06%	0.48%	0.06%
BBIO	F	0.04%	0.48%	0.04%
BEAM	D	0.05%	0.21%	0.05%
BPMC	C	0.08%	0.61%	0.08%
CGEM	F	0.04%	0.09%	0.04%
COGT	D	0.04%	0.1%	0.04%
CRNX	C	0.11%	0.47%	0.11%
CRSP	D	0.08%	0.43%	0.08%
CSTL	D	0.05%	0.08%	0.05%
CYTK	F	0.13%	0.64%	0.13%
DNLI	D	0.1%	0.39%	0.1%
DYN	F	0.04%	0.31%	0.04%
ELVN	D	0.05%	0.12%	0.05%
ETNB	C	0.05%	0.09%	0.05%
EWTX	C	0.08%	0.32%	0.08%
FTRE	D	0.05%	0.19%	0.05%
GERN	D	0.05%	0.24%	0.05%
GH	B	0.07%	0.39%	0.07%
HALO	F	0.11%	0.62%	0.11%
IDYA	F	0.06%	0.24%	0.06%
IMVT	F	0.04%	0.42%	0.04%
INSM	C	0.21%	1.23%	0.21%
IONS	F	0.05%	0.54%	0.05%
IRON	B	0.06%	0.19%	0.06%
ITCI	C	0.15%	0.95%	0.15%
JANX	C	0.05%	0.27%	0.05%
JAZZ	B	0.16%	0.81%	0.16%
KROS	D	0.06%	0.23%	0.06%
KRYS	B	0.04%	0.53%	0.04%
KURA	F	0.04%	0.13%	0.04%
KYMR	D	0.05%	0.29%	0.05%
MDGL	B	0.05%	0.67%	0.05%
MEDP	D	0.15%	1.04%	0.15%
MNKD	C	0.06%	0.2%	0.06%
MRUS	F	0.06%	0.34%	0.06%
MYGN	F	0.03%	0.15%	0.03%
NRIX	D	0.06%	0.16%	0.06%
NTLA	F	0.04%	0.15%	0.04%
NUVL	D	0.05%	0.56%	0.05%
NVAX	F	0.03%	0.13%	0.03%
NVCR	C	0.04%	0.19%	0.04%
PAHC	C	0.06%	0.05%	0.05%
PCVX	D	0.21%	1.04%	0.21%
PHAT	F	0.03%	0.06%	0.03%
PLRX	F	0.04%	0.08%	0.04%
PRTA	F	0.04%	0.08%	0.04%
PTCT	B	0.06%	0.32%	0.06%
PTGX	C	0.05%	0.26%	0.05%
RARE	D	0.07%	0.44%	0.07%
RCKT	F	0.04%	0.14%	0.04%
RNA	D	0.09%	0.53%	0.09%
ROIV	C	0.06%	0.89%	0.06%
RVMD	C	0.1%	0.99%	0.1%
RXRX	F	0.04%	0.18%	0.04%
SNDX	F	0.04%	0.14%	0.04%
SRPT	D	0.18%	1.08%	0.18%
SVRA	D	0.03%	0.05%	0.03%
SWTX	C	0.05%	0.29%	0.05%
TARS	B	0.08%	0.18%	0.08%
TWST	D	0.05%	0.23%	0.05%
VERA	B	0.06%	0.27%	0.06%
XENE	D	0.11%	0.33%	0.11%

ESML Overweight 831 Positions Relative to IBBQ

Symbol	Grade	Weight
CASY	A	0.52%
JHG	A	0.51%
USFD	A	0.49%
CVNA	B	0.48%
SFM	A	0.43%
GWRE	A	0.43%
INGR	B	0.42%
EWBC	A	0.4%
FIX	A	0.38%
NTNX	A	0.36%
KBR	F	0.35%
FTI	A	0.35%
AYI	B	0.34%
JLL	D	0.34%
MUSA	A	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%
OGS	A	0.31%
OSK	B	0.3%
GBCI	B	0.3%
BWXT	B	0.3%
BMI	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%
PRGS	A	0.24%
WCC	B	0.24%
FTAI	B	0.24%
UGI	A	0.24%
RNR	C	0.24%
MOG.A	B	0.24%
IVZ	B	0.24%
ATR	B	0.24%
HRI	B	0.24%
NCLH	B	0.24%
REZI	A	0.23%
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%
MTG	C	0.23%
SOFI	A	0.22%
FTDR	A	0.22%
CNM	D	0.22%
LAD	A	0.22%
GNRC	B	0.22%
FELE	B	0.22%
WAL	B	0.22%
CMC	B	0.22%
CVLT	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%
ONTO	D	0.21%
LSTR	D	0.21%
CUZ	B	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%
BDC	B	0.2%
KNSL	B	0.2%
WHR	B	0.2%
FBP	B	0.2%
PLNT	A	0.2%
KBH	D	0.2%
TGNA	B	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%
HRB	D	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%
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%
MTH	D	0.17%
AEIS	B	0.17%
LAZ	B	0.17%
CHX	C	0.17%
BERY	B	0.17%
FN	D	0.17%
PCH	D	0.17%
TMHC	B	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%
KTB	B	0.16%
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%
SPSC	C	0.16%
TKO	B	0.16%
ACIW	B	0.16%
SLM	A	0.16%
BCC	B	0.16%
BHE	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%
ANF	C	0.15%
AM	A	0.15%
VNT	B	0.15%
FIBK	A	0.15%
CRS	A	0.15%
NOV	C	0.15%
LSCC	D	0.15%
RRX	B	0.15%
HNI	B	0.15%
MOD	A	0.15%
WFRD	D	0.15%
GTLB	B	0.15%
PINC	B	0.14%
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%
TPH	D	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%
IDCC	A	0.14%
ASGN	F	0.14%
TPX	B	0.14%
CZR	F	0.14%
ATI	D	0.14%
JXN	C	0.14%
FMC	D	0.14%
NSIT	F	0.13%
AVAV	D	0.13%
M	D	0.13%
HESM	B	0.13%
BRKR	D	0.13%
EPAC	B	0.13%
CAVA	B	0.13%
AIT	A	0.13%
MAT	D	0.13%
STRL	B	0.13%
CBT	C	0.13%
PDCO	D	0.13%
FYBR	D	0.13%
LRN	A	0.13%
ORI	A	0.13%
KNF	A	0.13%
KLIC	B	0.13%
SWX	B	0.13%
ITGR	B	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%
HIW	D	0.13%
CVBF	A	0.12%
AGNC	D	0.12%
OLLI	D	0.12%
EVR	B	0.12%
DFIN	D	0.12%
YETI	C	0.12%
IRDM	D	0.12%
QTWO	A	0.12%
KOS	F	0.12%
RKLB	B	0.12%
WGO	C	0.12%
WHD	B	0.12%
BLKB	B	0.12%
S	B	0.12%
GL	B	0.12%
ABG	B	0.12%
CRDO	B	0.12%
WERN	C	0.12%
THO	B	0.12%
MTX	B	0.12%
ADT	C	0.12%
GAP	C	0.12%
HAE	C	0.12%
FULT	A	0.12%
CSGS	B	0.11%
PEGA	A	0.11%
PATH	C	0.11%
TXRH	C	0.11%
JEF	A	0.11%
DXC	B	0.11%
ORA	B	0.11%
KRC	C	0.11%
GMED	A	0.11%
ABCB	B	0.11%
AUB	B	0.11%
VKTX	F	0.11%
LYFT	C	0.11%
WDFC	B	0.11%
SHOO	D	0.11%
APPF	B	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%
TDC	D	0.1%
HASI	D	0.1%
ERII	D	0.1%
PJT	A	0.1%
AROC	B	0.1%
SCL	C	0.1%
HCP	B	0.1%
BRBR	A	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%
SLG	B	0.1%
ETSY	D	0.1%
DY	D	0.1%
BHVN	D	0.1%
DRS	B	0.1%
APAM	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%
RDNT	B	0.1%
KD	B	0.1%
SIG	B	0.1%
AMAL	B	0.1%
CGNX	C	0.1%
LCII	C	0.1%
ALTM	C	0.1%
PSN	D	0.1%
LNTH	D	0.1%
FIVE	F	0.1%
LEA	D	0.1%
VNO	B	0.09%
OGN	D	0.09%
AMED	F	0.09%
ABM	B	0.09%
NMIH	D	0.09%
UPST	B	0.09%
U	C	0.09%
ARW	D	0.09%
KFY	B	0.09%
CNK	B	0.09%
WEN	D	0.09%
POST	C	0.09%
SHAK	C	0.09%
RDN	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%
ATKR	C	0.09%
HWC	B	0.09%
MARA	C	0.09%
CRVL	A	0.09%
BRC	D	0.09%
IMAX	B	0.09%
IBP	D	0.09%
LNC	B	0.09%
POWL	C	0.09%
ACHC	F	0.09%
EVRI	A	0.08%
AVPT	A	0.08%
AMWD	C	0.08%
SBRA	C	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%
IESC	B	0.08%
BL	B	0.08%
TILE	B	0.08%
TBBK	B	0.08%
SPB	C	0.08%
IOSP	B	0.08%
SNX	C	0.08%
VSEC	C	0.08%
BPOP	B	0.08%
INTA	A	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%
TEX	D	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%
PIPR	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%
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%
ESNT	D	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%
HIMS	B	0.07%
MHK	D	0.07%
HWKN	B	0.07%
BROS	B	0.07%
XHR	B	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
VCTR	B	0.07%
HBI	B	0.07%
BC	C	0.07%
CTS	C	0.07%
WTFC	A	0.07%
WRBY	B	0.07%
AN	C	0.07%
PI	D	0.07%
SXT	B	0.07%
CCCS	B	0.07%
NWN	A	0.07%
AZZ	B	0.07%
OUT	A	0.07%
PAR	B	0.07%
UNFI	A	0.07%
ATGE	B	0.06%
MTRN	C	0.06%
CBZ	B	0.06%
VRRM	D	0.06%
CAR	C	0.06%
FNA	C	0.06%
WT	B	0.06%
SG	B	0.06%
AAP	C	0.06%
TMCI	D	0.06%
DLX	B	0.06%
CLSK	C	0.06%
PRO	C	0.06%
DCO	C	0.06%
RBBN	C	0.06%
VRTS	B	0.06%
PBF	D	0.06%
SATS	D	0.06%
W	F	0.06%
MBUU	C	0.06%
PLAY	D	0.06%
EXPO	D	0.06%
MOV	C	0.06%
LXP	D	0.06%
VRNT	C	0.06%
COKE	C	0.06%
JWN	C	0.06%
POWI	D	0.06%
CMCO	B	0.06%
CHH	A	0.06%
TGTX	B	0.06%
CWAN	B	0.06%
TDOC	C	0.06%
EXP	A	0.06%
ATEN	B	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%
FL	F	0.06%
VREX	C	0.06%
ANDE	D	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%
PLUS	F	0.06%
OWL	A	0.06%
NVST	B	0.06%
PPBI	B	0.06%
ACVA	B	0.06%
SM	B	0.06%
RCM	F	0.06%
FLYW	C	0.06%
APG	B	0.06%
HURN	B	0.06%
EYE	C	0.06%
PK	B	0.06%
CLB	B	0.06%
CCS	D	0.06%
TALO	C	0.06%
TGI	B	0.06%
BYD	C	0.06%
BKU	A	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%
VRNS	D	0.06%
CLF	F	0.06%
FOUR	B	0.06%
MAN	D	0.06%
VRDN	D	0.06%
VERX	B	0.06%
PDM	D	0.06%
MASI	A	0.06%
UPBD	B	0.06%
CALM	A	0.06%
IBOC	A	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%
KLG	C	0.05%
RXST	F	0.05%
EWCZ	F	0.05%
HZO	D	0.05%
BNL	D	0.05%
AXL	C	0.05%
PBI	B	0.05%
NUVB	C	0.05%
THRM	D	0.05%
ZEUS	C	0.05%
HLX	B	0.05%
RYN	D	0.05%
ALRM	C	0.05%
PLOW	D	0.05%
DOCN	D	0.05%
ARKO	C	0.05%
SHC	F	0.05%
CECO	A	0.05%
LEVI	F	0.05%
ICHR	C	0.05%
INFA	D	0.05%
CPRX	C	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%
WNC	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%
KSS	F	0.05%
AMBC	C	0.05%
AWR	B	0.05%
XPEL	C	0.05%
PFS	B	0.05%
PGRE	F	0.05%
EDR	A	0.05%
RUN	F	0.05%
DGII	B	0.05%
REVG	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%
SMP	B	0.05%
VITL	D	0.05%
LCID	F	0.05%
CWEN	C	0.05%
MTTR	B	0.05%
GO	C	0.05%
HAYW	B	0.05%
EMBC	C	0.05%
NEO	C	0.05%
SLVM	B	0.05%
XPRO	F	0.05%
RAMP	C	0.05%
ZUO	B	0.05%
VYX	B	0.05%
OMCL	C	0.05%
HCC	B	0.05%
MMI	B	0.05%
BGC	C	0.05%
PDFS	C	0.05%
IART	C	0.05%
CC	C	0.05%
MHO	D	0.05%
PRG	C	0.05%
FFBC	A	0.05%
GEF	A	0.05%
TMDX	F	0.05%
SKY	A	0.05%
BE	B	0.05%
ADUS	D	0.05%
LIVN	F	0.05%
AORT	B	0.05%
SMPL	B	0.05%
SBH	C	0.05%
KMPR	B	0.05%
EPR	D	0.05%
ASTE	B	0.05%
CUBI	C	0.05%
KVYO	C	0.05%
LOPE	B	0.05%
UFPT	B	0.05%
RNG	B	0.05%
DNOW	B	0.05%
HLIT	D	0.05%
TNC	D	0.05%
GEF	A	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%
COOP	B	0.05%
COLD	D	0.05%
CALX	D	0.05%
NBHC	B	0.05%
AGYS	A	0.05%
ALKT	B	0.05%
PD	C	0.05%
CIVI	D	0.05%
CRAI	B	0.05%
OMI	F	0.04%
FOXF	F	0.04%
CLW	F	0.04%
HPP	F	0.04%
FORM	D	0.04%
BKD	D	0.04%
CAL	D	0.04%
HOUS	D	0.04%
GPRE	F	0.04%
FLGT	F	0.04%
NEP	F	0.04%
XRX	F	0.04%
CRI	D	0.04%
QS	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%
CXM	C	0.04%
TNDM	F	0.04%
COUR	F	0.04%
SAVA	D	0.04%
LESL	C	0.04%
SIBN	F	0.04%
MLKN	D	0.04%
RCUS	F	0.04%
NABL	F	0.04%
MTUS	C	0.04%
MMS	F	0.04%
AMN	F	0.04%
OSCR	D	0.04%
AMC	C	0.04%
ASH	D	0.04%
PLUG	F	0.04%
HL	D	0.04%
DK	C	0.04%
QDEL	F	0.04%
ARLO	C	0.04%
FLO	D	0.04%
PTEN	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%
GRBK	D	0.04%
TROX	D	0.04%
RKT	F	0.04%
AHH	D	0.04%
EPC	D	0.04%
NEOG	F	0.04%
WOLF	F	0.03%
MEG	F	0.03%
TXG	F	0.03%
SITC	D	0.03%
CNXC	F	0.03%
CDNA	D	0.03%
CRMT	C	0.03%
CCRN	F	0.03%
CPRI	F	0.03%
ETWO	F	0.03%
BRY	F	0.03%
MQ	F	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%
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 122 Positions Relative to IBBQ

Symbol	Grade	Weight
GILD	C	-9.95%
VRTX	F	-8.34%
AMGN	D	-7.56%
REGN	F	-5.67%
AZN	D	-3.97%
ALNY	D	-3.26%
BIIB	F	-2.52%
ILMN	D	-2.32%
ARGX	A	-1.96%
UTHR	C	-1.75%
VTRS	A	-1.65%
INCY	C	-1.58%
MRNA	F	-1.53%
SNY	F	-1.51%
SMMT	D	-1.43%
BMRN	D	-1.3%
NBIX	C	-1.28%
RPRX	D	-1.24%
EXEL	B	-1.06%
BNTX	D	-1.05%
BGNE	D	-0.91%
ASND	D	-0.79%
RYTM	C	-0.37%
LEGN	F	-0.34%
FOLD	F	-0.31%
VCYT	B	-0.3%
ACAD	D	-0.3%
VRNA	B	-0.28%
VCEL	B	-0.28%
IOVA	F	-0.27%
MIRM	B	-0.23%
SRRK	B	-0.23%
AMPH	D	-0.23%
LGND	B	-0.22%
AKRO	B	-0.21%
SUPN	C	-0.21%
HRMY	D	-0.2%
WVE	C	-0.18%
DVAX	C	-0.17%
BCRX	D	-0.16%
ZLAB	C	-0.15%
TVTX	B	-0.15%
SPRY	D	-0.15%
HROW	D	-0.15%
OCUL	D	-0.15%
XNCR	B	-0.15%
DAWN	F	-0.14%
AUPH	B	-0.13%
ARDX	F	-0.13%
INVA	D	-0.13%
ANIP	F	-0.13%
IMCR	D	-0.13%
VIR	D	-0.12%
CNTA	B	-0.12%
GRFS	C	-0.12%
COLL	F	-0.1%
BCYC	F	-0.09%
GMAB	F	-0.09%
REPL	B	-0.08%
ADPT	C	-0.08%
ERAS	C	-0.08%
EOLS	D	-0.08%
PCRX	C	-0.08%
ABCL	D	-0.08%
AUTL	F	-0.07%
MRVI	F	-0.07%
AVXL	B	-0.07%
IRWD	F	-0.07%
RLAY	F	-0.07%
ABUS	D	-0.07%
HCM	D	-0.06%
OLMA	F	-0.06%
SANA	F	-0.06%
GLPG	D	-0.06%
CVAC	F	-0.06%
MLYS	F	-0.06%
HUMA	F	-0.06%
ORIC	F	-0.06%
TSHA	C	-0.05%
SIGA	F	-0.05%
XERS	B	-0.05%
PACB	F	-0.05%
TERN	F	-0.05%
RVNC	F	-0.05%
FDMT	F	-0.05%
OABI	F	-0.05%
TBPH	C	-0.05%
URGN	F	-0.05%
ALLO	F	-0.05%
RGNX	F	-0.05%
EYPT	F	-0.05%
YMAB	F	-0.05%
MGTX	C	-0.05%
THRD	D	-0.05%
LXRX	F	-0.04%
PRME	F	-0.04%
VERV	F	-0.04%
KALV	D	-0.04%
PGEN	F	-0.03%
BMEA	F	-0.03%
ZNTL	F	-0.03%
ATAI	C	-0.03%
LYEL	F	-0.03%
VNDA	C	-0.03%
ITOS	F	-0.03%
QURE	D	-0.03%
VYGR	F	-0.03%
SAGE	F	-0.03%
ACIU	C	-0.03%
ACRS	C	-0.02%
CABA	F	-0.02%
CRBU	F	-0.02%
FULC	F	-0.02%
AMRN	F	-0.02%
EDIT	F	-0.02%
MGNX	F	-0.02%
BLUE	F	-0.01%
ALXO	F	-0.01%
OVID	F	-0.01%
CHRS	D	-0.01%
VTYX	F	-0.01%
RAPT	F	-0.0%