ESML vs. IWS ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to iShares Russell Mid-cap Value ETF (IWS)

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

$38.05

Average Daily Volume

128,148

Number of Holdings ^*

899

* may have additional holdings in another (foreign) market

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$119.52

Average Daily Volume

278,291

Number of Holdings ^*

696

* may have additional holdings in another (foreign) market

Performance

Period	ESML	IWS
30 Days	-2.14%	-1.98%
60 Days	-2.17%	-1.75%
90 Days	-2.76%	-2.83%
12 Months	10.63%	11.74%

273 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in IWS	Overlap
AA	B	0.17%	0.09%	0.09%
AAP	F	0.09%	0.05%	0.05%
ACHC	F	0.2%	0.08%	0.08%
ADC	B	0.1%	0.08%	0.08%
ADT	B	0.11%	0.03%	0.03%
AFRM	F	0.15%	0.09%	0.09%
AGCO	F	0.16%	0.08%	0.08%
AGL	D	0.06%	0.0%	0.0%
AGNC	A	0.13%	0.09%	0.09%
AGO	D	0.06%	0.05%	0.05%
AL	C	0.11%	0.06%	0.06%
ALK	F	0.2%	0.06%	0.06%
ALSN	D	0.19%	0.08%	0.08%
AM	B	0.17%	0.04%	0.04%
AMC	C	0.06%	0.02%	0.02%
AMED	A	0.1%	0.04%	0.04%
AMG	D	0.27%	0.07%	0.07%
AN	D	0.09%	0.06%	0.06%
AR	D	0.27%	0.12%	0.12%
ARMK	C	0.23%	0.11%	0.11%
ARW	D	0.09%	0.08%	0.08%
ASH	D	0.05%	0.06%	0.05%
ATR	D	0.22%	0.12%	0.12%
AVT	D	0.29%	0.06%	0.06%
AWI	D	0.19%	0.05%	0.05%
AXS	C	0.18%	0.07%	0.07%
AXTA	D	0.27%	0.09%	0.09%
AYI	D	0.28%	0.1%	0.1%
AZEK	D	0.13%	0.08%	0.08%
AZTA	D	0.08%	0.04%	0.04%
BC	F	0.08%	0.06%	0.06%
BERY	D	0.17%	0.09%	0.09%
BFAM	C	0.25%	0.07%	0.07%
BILL	F	0.1%	0.07%	0.07%
BJ	B	0.29%	0.1%	0.1%
BLD	D	0.31%	0.15%	0.15%
BPOP	D	0.08%	0.08%	0.08%
BRX	B	0.12%	0.09%	0.09%
BWA	F	0.19%	0.1%	0.1%
BWXT	B	0.27%	0.09%	0.09%
BYD	C	0.05%	0.05%	0.05%
CABO	F	0.15%	0.02%	0.02%
CACI	B	0.2%	0.12%	0.12%
CAR	F	0.05%	0.02%	0.02%
CASY	B	0.57%	0.16%	0.16%
CAVA	B	0.07%	0.01%	0.01%
CBSH	C	0.2%	0.08%	0.08%
CC	F	0.07%	0.04%	0.04%
CCCS	D	0.08%	0.06%	0.06%
CERT	D	0.04%	0.01%	0.01%
CFR	D	0.08%	0.08%	0.08%
CGNX	B	0.15%	0.1%	0.1%
CHE	D	0.13%	0.03%	0.03%
CIEN	F	0.14%	0.09%	0.09%
CLH	B	0.06%	0.15%	0.06%
CLVT	F	0.07%	0.03%	0.03%
CMA	C	0.19%	0.07%	0.07%
CNM	D	0.28%	0.11%	0.11%
CNXC	C	0.06%	0.04%	0.04%
COHR	B	0.23%	0.12%	0.12%
COLB	D	0.1%	0.05%	0.05%
COLD	C	0.07%	0.09%	0.07%
COLM	D	0.07%	0.03%	0.03%
CPRI	D	0.07%	0.05%	0.05%
CR	C	0.18%	0.09%	0.09%
CRI	F	0.05%	0.03%	0.03%
CRUS	A	0.25%	0.09%	0.09%
CUBE	B	0.21%	0.13%	0.13%
CUZ	D	0.18%	0.04%	0.04%
CW	C	0.2%	0.13%	0.13%
CWEN	D	0.05%	0.03%	0.03%
CWEN	D	0.07%	0.03%	0.03%
CWEN	D	0.07%	0.01%	0.01%
CWEN	D	0.05%	0.01%	0.01%
DAR	F	0.19%	0.07%	0.07%
DBX	D	0.13%	0.01%	0.01%
DCI	D	0.26%	0.06%	0.06%
DLB	D	0.2%	0.06%	0.06%
DOCS	B	0.05%	0.02%	0.02%
DTM	B	0.22%	0.09%	0.09%
DXC	C	0.12%	0.05%	0.05%
EGP	B	0.23%	0.1%	0.1%
EHC	B	0.27%	0.1%	0.1%
ELAN	D	0.19%	0.09%	0.09%
ENOV	F	0.09%	0.03%	0.03%
EPR	C	0.06%	0.04%	0.04%
ESI	B	0.15%	0.08%	0.08%
EVR	A	0.11%	0.09%	0.09%
EWBC	D	0.34%	0.13%	0.13%
FAF	D	0.15%	0.07%	0.07%
FCN	D	0.24%	0.08%	0.08%
FHN	C	0.22%	0.11%	0.11%
FLO	D	0.11%	0.05%	0.05%
FLS	D	0.14%	0.08%	0.08%
FMC	F	0.18%	0.08%	0.08%
FNB	C	0.06%	0.06%	0.06%
FR	C	0.09%	0.08%	0.08%
FRPT	A	0.19%	0.05%	0.05%
FRT	C	0.31%	0.11%	0.11%
FTI	B	0.37%	0.14%	0.14%
FTRE	D	0.07%	0.02%	0.02%
FYBR	B	0.11%	0.08%	0.08%
GL	D	0.1%	0.09%	0.09%
GME	C	0.14%	0.09%	0.09%
GMED	B	0.1%	0.07%	0.07%
GNRC	C	0.17%	0.1%	0.1%
GO	D	0.07%	0.03%	0.03%
GPK	D	0.29%	0.05%	0.05%
GPS	C	0.15%	0.06%	0.06%
GTES	D	0.06%	0.04%	0.04%
GWRE	A	0.36%	0.14%	0.14%
GXO	F	0.16%	0.07%	0.07%
HAS	D	0.26%	0.1%	0.1%
HAYW	F	0.04%	0.02%	0.02%
HCP	A	0.09%	0.01%	0.01%
HHH	D	0.18%	0.03%	0.03%
HIW	C	0.12%	0.03%	0.03%
HOG	F	0.24%	0.05%	0.05%
HR	B	0.09%	0.08%	0.08%
HRB	B	0.21%	0.04%	0.04%
HXL	D	0.16%	0.07%	0.07%
IART	C	0.09%	0.03%	0.03%
IBKR	B	0.25%	0.16%	0.16%
ICUI	B	0.06%	0.03%	0.03%
INFA	B	0.07%	0.02%	0.02%
INGR	D	0.37%	0.1%	0.1%
IRDM	D	0.12%	0.0%	0.0%
ITT	D	0.27%	0.14%	0.14%
IVZ	D	0.23%	0.07%	0.07%
JAZZ	F	0.15%	0.04%	0.04%
JEF	B	0.09%	0.12%	0.09%
JHG	B	0.44%	0.06%	0.06%
JLL	B	0.33%	0.12%	0.12%
JWN	B	0.06%	0.03%	0.03%
KBR	D	0.42%	0.07%	0.07%
KD	C	0.11%	0.08%	0.08%
KLG	F	0.04%	0.01%	0.01%
KMPR	C	0.05%	0.05%	0.05%
KRC	F	0.1%	0.05%	0.05%
KSS	F	0.07%	0.03%	0.03%
LAD	F	0.17%	0.09%	0.09%
LBRDA	C	0.08%	0.01%	0.01%
LCID	D	0.07%	0.02%	0.02%
LEA	F	0.13%	0.09%	0.09%
LECO	F	0.23%	0.01%	0.01%
LEG	F	0.09%	0.02%	0.02%
LFUS	C	0.18%	0.08%	0.08%
LITE	B	0.07%	0.04%	0.04%
LNC	C	0.1%	0.06%	0.06%
LOPE	C	0.07%	0.04%	0.04%
LPX	D	0.14%	0.07%	0.07%
LSTR	D	0.25%	0.02%	0.02%
M	C	0.18%	0.07%	0.07%
MAN	D	0.08%	0.04%	0.04%
MAT	F	0.13%	0.07%	0.07%
MDU	C	0.29%	0.07%	0.07%
MHK	D	0.06%	0.07%	0.06%
MKSI	B	0.18%	0.11%	0.11%
MPW	F	0.06%	0.04%	0.04%
MRCY	D	0.09%	0.02%	0.02%
MSA	C	0.21%	0.07%	0.07%
MTG	B	0.25%	0.08%	0.08%
MTN	F	0.23%	0.08%	0.08%
MTZ	C	0.15%	0.09%	0.09%
MUSA	C	0.33%	0.01%	0.01%
NCLH	C	0.19%	0.08%	0.08%
NFG	D	0.2%	0.06%	0.06%
NNN	B	0.19%	0.1%	0.1%
NOV	D	0.22%	0.1%	0.1%
NTNX	C	0.33%	0.13%	0.13%
NVST	F	0.05%	0.03%	0.03%
NVT	D	0.23%	0.16%	0.16%
NWL	F	0.07%	0.03%	0.03%
NXST	B	0.1%	0.04%	0.04%
NYCB	D	0.05%	0.03%	0.03%
NYT	A	0.19%	0.1%	0.1%
OGN	C	0.13%	0.07%	0.07%
OHI	B	0.28%	0.11%	0.11%
OLED	A	0.11%	0.07%	0.07%
OLLI	B	0.07%	0.05%	0.05%
OMF	D	0.19%	0.07%	0.07%
ORI	D	0.12%	0.1%	0.1%
OSK	D	0.32%	0.09%	0.09%
OZK	D	0.13%	0.06%	0.06%
PINC	F	0.13%	0.03%	0.03%
PK	D	0.07%	0.04%	0.04%
PLNT	B	0.18%	0.04%	0.04%
PLUG	F	0.04%	0.02%	0.02%
PNFP	D	0.22%	0.08%	0.08%
POST	C	0.09%	0.07%	0.07%
PRGO	F	0.08%	0.04%	0.04%
PRI	C	0.22%	0.04%	0.04%
PVH	F	0.19%	0.08%	0.08%
PYCR	D	0.06%	0.01%	0.01%
QDEL	F	0.04%	0.02%	0.02%
QS	F	0.05%	0.02%	0.02%
R	B	0.26%	0.07%	0.07%
RCM	F	0.06%	0.02%	0.02%
REXR	C	0.38%	0.12%	0.12%
RGA	C	0.3%	0.18%	0.18%
RGLD	B	0.29%	0.11%	0.11%
RH	D	0.05%	0.04%	0.04%
RHI	F	0.21%	0.08%	0.08%
RKT	C	0.06%	0.01%	0.01%
RL	C	0.08%	0.09%	0.08%
RLI	D	0.18%	0.06%	0.06%
RNR	D	0.25%	0.11%	0.11%
ROIV	D	0.06%	0.0%	0.0%
RRC	D	0.29%	0.1%	0.1%
RRX	F	0.18%	0.12%	0.12%
RUN	F	0.06%	0.04%	0.04%
RYN	D	0.05%	0.05%	0.05%
S	C	0.11%	0.06%	0.06%
SAIA	C	0.29%	0.14%	0.14%
SCI	C	0.26%	0.08%	0.08%
SEE	F	0.08%	0.03%	0.03%
SF	B	0.15%	0.1%	0.1%
SHC	C	0.06%	0.01%	0.01%
SITE	F	0.18%	0.05%	0.05%
SLM	D	0.15%	0.04%	0.04%
SNDR	B	0.24%	0.02%	0.02%
SNV	B	0.25%	0.07%	0.07%
SOFI	F	0.11%	0.08%	0.08%
SON	F	0.13%	0.07%	0.07%
SPB	D	0.08%	0.03%	0.03%
SPR	B	0.06%	0.04%	0.04%
ST	C	0.1%	0.07%	0.07%
STWD	D	0.11%	0.07%	0.07%
SWN	D	0.24%	0.1%	0.1%
TDOC	F	0.05%	0.02%	0.02%
THC	C	0.18%	0.18%	0.18%
THG	D	0.16%	0.06%	0.06%
THO	D	0.14%	0.06%	0.06%
TKR	D	0.06%	0.06%	0.06%
TNDM	C	0.07%	0.03%	0.03%
TNL	D	0.15%	0.02%	0.02%
TOL	D	0.22%	0.15%	0.15%
TPR	C	0.24%	0.11%	0.11%
TPX	D	0.15%	0.08%	0.08%
TTEK	D	0.18%	0.12%	0.12%
UAA	F	0.05%	0.02%	0.02%
UGI	D	0.28%	0.06%	0.06%
UNM	D	0.2%	0.1%	0.1%
USFD	C	0.4%	0.16%	0.16%
VAC	F	0.08%	0.04%	0.04%
VFC	D	0.15%	0.06%	0.06%
VMI	C	0.12%	0.07%	0.07%
VNO	C	0.06%	0.06%	0.06%
VNT	D	0.17%	0.05%	0.05%
VOYA	D	0.19%	0.09%	0.09%
VSCO	D	0.04%	0.01%	0.01%
VSTS	F	0.05%	0.02%	0.02%
VVV	B	0.19%	0.05%	0.05%
VYX	C	0.05%	0.02%	0.02%
W	D	0.09%	0.04%	0.04%
WAL	B	0.17%	0.08%	0.08%
WBS	D	0.24%	0.09%	0.09%
WCC	D	0.2%	0.09%	0.09%
WEX	D	0.28%	0.05%	0.05%
WH	C	0.13%	0.07%	0.07%
WHR	C	0.22%	0.07%	0.07%
WOLF	F	0.09%	0.04%	0.04%
WOOF	C	0.08%	0.0%	0.0%
WSC	F	0.21%	0.07%	0.07%
WTFC	D	0.06%	0.08%	0.06%
WTM	D	0.14%	0.06%	0.06%
WU	D	0.09%	0.03%	0.03%
WWD	D	0.22%	0.14%	0.14%
X	C	0.16%	0.1%	0.1%
XPO	C	0.27%	0.15%	0.15%
XRAY	F	0.08%	0.07%	0.07%
ZI	F	0.12%	0.02%	0.02%
ZION	C	0.17%	0.08%	0.08%

ESML Overweight 628 Positions Relative to IWS

Symbol	Grade	Weight
SFM	B	0.34%
ONTO	B	0.32%
FLEX	D	0.32%
OGS	C	0.32%
FIX	D	0.32%
SIGI	F	0.3%
SRPT	C	0.29%
WMS	D	0.29%
CVNA	B	0.28%
BMI	C	0.28%
WING	B	0.27%
ELF	C	0.26%
NJR	D	0.25%
WFRD	B	0.25%
LNW	B	0.24%
CROX	C	0.24%
ESTC	B	0.24%
SSB	D	0.23%
CMC	D	0.23%
SUM	D	0.23%
PRGS	B	0.22%
FND	F	0.22%
FELE	D	0.22%
KBH	D	0.22%
PR	C	0.22%
GBCI	D	0.22%
MWA	C	0.22%
NTRA	B	0.22%
ANF	C	0.21%
NOVT	C	0.21%
MOG.A	C	0.21%
AAON	B	0.21%
UMBF	C	0.21%
VECO	B	0.2%
REZI	D	0.2%
KLIC	B	0.2%
GATX	B	0.2%
CDP	B	0.2%
CNX	C	0.2%
WTS	D	0.2%
CHX	C	0.2%
ITRI	C	0.19%
KNSL	F	0.19%
BDC	C	0.19%
SPSC	B	0.19%
ENLC	B	0.19%
ENSG	B	0.19%
NSIT	C	0.19%
RHP	D	0.19%
AVA	D	0.19%
FTDR	D	0.19%
GPI	D	0.19%
PCVX	B	0.19%
MORN	B	0.18%
ZWS	D	0.18%
CVLT	B	0.18%
RMBS	B	0.18%
WK	F	0.18%
PDCO	F	0.18%
PCH	F	0.18%
MUR	D	0.18%
KOS	F	0.18%
AEIS	C	0.18%
MEDP	C	0.18%
TGNA	D	0.18%
EXLS	B	0.18%
FN	C	0.18%
BRKR	F	0.17%
TKO	B	0.17%
HRI	F	0.17%
MTH	D	0.17%
ONB	B	0.17%
GKOS	A	0.17%
SPXC	B	0.17%
ASGN	D	0.17%
HQY	B	0.16%
ATI	C	0.16%
MYRG	F	0.16%
CNO	B	0.16%
ASB	D	0.16%
GTLS	D	0.16%
BHE	D	0.16%
HESM	A	0.15%
IOSP	D	0.15%
EPRT	A	0.15%
UBSI	D	0.15%
KNTK	B	0.15%
ETRN	D	0.15%
PEN	D	0.15%
PLXS	D	0.15%
TMHC	D	0.15%
ALTR	B	0.15%
CHDN	B	0.15%
ATKR	F	0.15%
BCC	F	0.15%
FSS	D	0.15%
PCOR	C	0.15%
ITCI	C	0.14%
BECN	D	0.14%
TPH	D	0.14%
YETI	F	0.14%
APPF	B	0.14%
MMSI	B	0.14%
CYTK	D	0.14%
HNI	C	0.14%
MTX	C	0.14%
ITGR	C	0.14%
SR	C	0.14%
GTLB	C	0.14%
INSM	A	0.14%
FIBK	B	0.14%
FIVE	F	0.14%
LCII	F	0.14%
MOD	B	0.14%
JXN	C	0.13%
WERN	F	0.13%
TDC	C	0.13%
AVAV	D	0.13%
EVRI	C	0.13%
HAE	C	0.13%
BANR	C	0.13%
RYAN	B	0.13%
CADE	D	0.13%
KTB	D	0.13%
DFIN	D	0.13%
OPCH	F	0.13%
IBCP	B	0.13%
FTAI	B	0.13%
BCPC	A	0.13%
BOX	D	0.13%
ACIW	A	0.13%
VLY	F	0.13%
NPO	D	0.13%
NXT	F	0.13%
SWX	D	0.13%
FUL	D	0.12%
TENB	C	0.12%
XENE	F	0.12%
ABG	D	0.12%
WGO	F	0.12%
FULT	D	0.12%
PFSI	B	0.12%
VKTX	D	0.12%
BHLB	C	0.12%
SHOO	C	0.12%
SITC	B	0.12%
HALO	B	0.12%
CBT	D	0.12%
SCL	D	0.12%
ACA	D	0.12%
VC	D	0.12%
HASI	D	0.12%
BLKB	D	0.12%
SMAR	B	0.12%
CPK	C	0.12%
CRC	C	0.11%
PBF	F	0.11%
SIG	D	0.11%
KNF	C	0.11%
ORA	C	0.11%
WHD	C	0.11%
DV	D	0.11%
KAR	C	0.11%
TREX	F	0.11%
EAT	C	0.11%
TRNO	B	0.11%
LNTH	C	0.11%
RXO	B	0.11%
SLAB	D	0.11%
EPAC	B	0.11%
PSN	C	0.1%
XPRO	C	0.1%
EFSC	C	0.1%
AROC	B	0.1%
HWC	C	0.1%
ERII	F	0.1%
WEN	F	0.1%
CIVI	D	0.1%
DY	B	0.1%
MODG	D	0.1%
BPMC	A	0.1%
WDFC	D	0.1%
TMDX	A	0.1%
AUB	C	0.1%
MARA	C	0.1%
PRIM	D	0.1%
DNLI	C	0.1%
FLR	B	0.1%
DUOL	F	0.1%
AMN	F	0.1%
ALKS	C	0.1%
TNET	F	0.1%
AEO	F	0.1%
CVBF	C	0.1%
CRS	B	0.1%
CPF	B	0.1%
FA	C	0.1%
CRSP	F	0.1%
TXRH	B	0.1%
AIT	C	0.1%
ECPG	D	0.1%
LRN	D	0.1%
SJW	D	0.1%
IBP	D	0.1%
SSD	F	0.1%
IDCC	A	0.1%
LYFT	F	0.1%
BXMT	C	0.09%
BRBR	B	0.09%
SLG	B	0.09%
CRDO	B	0.09%
KFY	B	0.09%
VRNT	C	0.09%
MTSI	A	0.09%
PGNY	D	0.09%
MGRC	D	0.09%
VITL	C	0.09%
ESNT	C	0.09%
PRKS	B	0.09%
HI	F	0.09%
RDN	B	0.09%
LXP	B	0.09%
CSGS	F	0.09%
ABM	B	0.09%
KOP	F	0.09%
AMAL	B	0.09%
FIVN	D	0.09%
TRN	D	0.09%
ROG	D	0.09%
POWI	D	0.09%
LNN	D	0.09%
JBT	F	0.09%
ABCB	C	0.09%
RDUS	F	0.09%
ZD	F	0.09%
BRC	B	0.09%
TEX	D	0.09%
STRL	D	0.09%
APAM	D	0.09%
DEA	B	0.08%
RVMD	D	0.08%
HIMS	C	0.08%
MAC	D	0.08%
GH	C	0.08%
CCS	D	0.08%
XHR	D	0.08%
PJT	A	0.08%
HELE	F	0.08%
MRUS	C	0.08%
CLNE	F	0.08%
RNA	C	0.08%
KE	F	0.08%
ARWR	C	0.08%
FROG	B	0.08%
CTS	D	0.08%
NARI	C	0.08%
PLYA	D	0.08%
SXT	C	0.08%
AZZ	D	0.08%
EYE	F	0.08%
UNIT	D	0.08%
IMAX	C	0.08%
CRVL	B	0.08%
CAC	C	0.08%
FBP	B	0.08%
IDYA	F	0.08%
ALTM	F	0.08%
PEGA	D	0.08%
KRYS	B	0.08%
BHVN	F	0.08%
ALG	F	0.08%
QTWO	B	0.08%
STC	D	0.08%
MOV	D	0.08%
SONO	F	0.08%
ICFI	D	0.08%
RDNT	B	0.08%
TWST	B	0.07%
HGV	D	0.07%
CNK	A	0.07%
VSEC	B	0.07%
NTLA	F	0.07%
BOOT	B	0.07%
NABL	B	0.07%
AVNT	D	0.07%
RXST	D	0.07%
CERE	C	0.07%
INDB	D	0.07%
WD	D	0.07%
PRCT	C	0.07%
MIR	C	0.07%
AMWD	F	0.07%
AVDX	B	0.07%
TNC	D	0.07%
NRIX	C	0.07%
APG	C	0.07%
ESRT	C	0.07%
LBPH	B	0.07%
KTOS	B	0.07%
TMCI	D	0.07%
ANDE	D	0.07%
MTRN	F	0.07%
NEP	F	0.07%
ENR	C	0.07%
INSP	F	0.07%
OII	B	0.07%
CLB	B	0.07%
VREX	F	0.07%
CHH	B	0.07%
AIR	B	0.07%
PDFS	B	0.07%
TALO	F	0.07%
PIPR	A	0.07%
PI	C	0.07%
BOH	F	0.07%
SHAK	D	0.07%
VRRM	B	0.07%
RNST	B	0.07%
ENV	C	0.07%
PD	C	0.07%
SBRA	A	0.07%
TROX	D	0.07%
DRS	B	0.07%
FL	D	0.07%
CRNX	D	0.07%
PLMR	C	0.07%
CALX	C	0.07%
PRVA	D	0.07%
NWN	F	0.07%
BL	D	0.07%
IRON	C	0.07%
PDM	B	0.06%
DRQ	F	0.06%
IVR	C	0.06%
MXL	B	0.06%
FOUR	B	0.06%
XRX	F	0.06%
NUVL	C	0.06%
WT	B	0.06%
CAKE	C	0.06%
SNDX	C	0.06%
DYN	B	0.06%
SKT	D	0.06%
CATC	B	0.06%
SG	D	0.06%
WKC	B	0.06%
RCKT	F	0.06%
RKLB	B	0.06%
MNKD	C	0.06%
COKE	B	0.06%
VRTS	D	0.06%
PETQ	B	0.06%
FFIN	D	0.06%
INTA	C	0.06%
ADUS	B	0.06%
AORT	B	0.06%
VERX	B	0.06%
SGH	B	0.06%
AI	B	0.06%
VRNS	B	0.06%
STAA	B	0.06%
AUR	C	0.06%
PTGX	B	0.06%
WNC	F	0.06%
ACEL	D	0.06%
MLTX	D	0.06%
EPC	B	0.06%
ARKO	D	0.06%
HWKN	B	0.06%
HIBB	A	0.06%
CBZ	D	0.06%
SQSP	B	0.06%
CWK	C	0.06%
MLNK	C	0.06%
PTEN	F	0.06%
SPT	D	0.06%
KREF	D	0.06%
AVPT	B	0.06%
THRM	F	0.06%
PRTA	F	0.06%
CMCO	F	0.06%
MDGL	C	0.06%
CECO	B	0.06%
MORF	C	0.06%
BWIN	A	0.06%
NEOG	C	0.06%
INFN	B	0.06%
EXPO	C	0.06%
IBOC	C	0.06%
RAMP	C	0.06%
ESE	D	0.06%
YELP	F	0.06%
UNFI	C	0.06%
AAT	B	0.06%
GERN	B	0.06%
HLIT	B	0.06%
ZEUS	F	0.06%
VVX	C	0.06%
MGNI	B	0.06%
ACVA	C	0.06%
PLUS	D	0.06%
ROCK	D	0.06%
LEVI	D	0.06%
GVA	B	0.06%
TDS	B	0.06%
BANC	D	0.06%
PECO	C	0.06%
HZO	C	0.06%
CLDX	F	0.06%
NTGR	C	0.06%
SEM	A	0.06%
JBGS	B	0.06%
CLSK	D	0.06%
SASR	C	0.06%
OUT	C	0.06%
TBBK	B	0.06%
RARE	D	0.06%
IMVT	D	0.05%
PTCT	D	0.05%
PRAA	F	0.05%
IESC	C	0.05%
RIG	F	0.05%
LUMN	F	0.05%
CSTL	F	0.05%
BBIO	D	0.05%
HAFC	C	0.05%
ASTE	F	0.05%
BKU	C	0.05%
XPER	F	0.05%
DIN	F	0.05%
ASPN	D	0.05%
SMP	F	0.05%
RCUS	F	0.05%
ETNB	F	0.05%
UEC	D	0.05%
DOCN	C	0.05%
MTW	F	0.05%
MEG	D	0.05%
SM	D	0.05%
MNRO	F	0.05%
DAN	F	0.05%
RNG	F	0.05%
DK	F	0.05%
VERA	C	0.05%
CWT	C	0.05%
FNA	F	0.05%
GT	F	0.05%
LIVN	D	0.05%
AXL	F	0.05%
FFBC	D	0.05%
MTDR	D	0.05%
JANX	D	0.05%
FRSH	D	0.05%
HPP	D	0.05%
EMBC	F	0.05%
ARVN	F	0.05%
ARRY	F	0.05%
BRY	D	0.05%
OFIX	D	0.05%
PAHC	C	0.05%
SIBN	D	0.05%
RUSHB	F	0.05%
UPWK	D	0.05%
RUSHA	F	0.05%
GEF	F	0.05%
ATEN	C	0.05%
ASAN	D	0.05%
VAL	B	0.05%
DAWN	D	0.05%
CPRX	D	0.05%
REVG	D	0.05%
CNMD	D	0.05%
KURA	D	0.05%
FLGT	F	0.05%
HCC	C	0.05%
SVRA	C	0.05%
ETWO	C	0.05%
EWCZ	F	0.05%
HAIN	D	0.05%
MHO	D	0.05%
CAL	F	0.05%
BEAM	D	0.05%
CLW	D	0.05%
JAMF	C	0.05%
CDE	A	0.05%
WRBY	C	0.05%
QLYS	D	0.05%
VBTX	C	0.05%
MEI	F	0.05%
PSMT	D	0.05%
VCTR	D	0.05%
ARDX	F	0.05%
PHAT	C	0.05%
MRC	D	0.05%
BGC	C	0.05%
ZYME	C	0.05%
VVI	D	0.05%
APLS	F	0.05%
UPST	F	0.05%
CCRN	F	0.05%
LGF.A	D	0.05%
SLVM	D	0.05%
PLAY	F	0.05%
ATEC	D	0.05%
MLKN	D	0.05%
MMI	D	0.05%
CRMT	F	0.05%
AWR	D	0.05%
PRG	D	0.05%
TILE	D	0.05%
NEO	D	0.05%
PRLB	D	0.05%
BDN	D	0.05%
ZUO	C	0.05%
SATS	B	0.05%
NBHC	B	0.05%
ARQT	B	0.05%
FLYW	F	0.05%
AIN	D	0.05%
PLOW	F	0.05%
GBX	D	0.05%
POWL	D	0.05%
KELYA	D	0.05%
PNTG	B	0.05%
BKD	C	0.05%
HBI	C	0.05%
GOGO	D	0.05%
VNOM	B	0.05%
ARCB	D	0.05%
EWTX	B	0.05%
SBH	D	0.05%
CCOI	D	0.05%
LBTYK	C	0.05%
AHH	B	0.05%
MASI	F	0.05%
EGY	C	0.05%
UFPT	A	0.05%
PGRE	C	0.05%
EDR	A	0.05%
GEF	F	0.05%
KROS	F	0.05%
BRZE	D	0.05%
CUBI	B	0.05%
CBU	B	0.05%
MTTR	C	0.05%
VRDN	F	0.05%
RBBN	B	0.05%
EVBG	B	0.05%
EE	C	0.05%
KVYO	B	0.05%
CRAI	C	0.05%
NBTB	B	0.05%
ATRC	C	0.05%
DNOW	D	0.05%
PRO	F	0.05%
MYGN	B	0.05%
MBUU	F	0.05%
COOP	D	0.05%
SWTX	F	0.05%
B	B	0.05%
ELVN	B	0.05%
XPEL	F	0.05%
DCO	B	0.05%
AXSM	B	0.05%
FORM	A	0.05%
CALM	B	0.05%
ACLX	C	0.05%
AGYS	B	0.05%
BE	D	0.05%
MQ	C	0.05%
HLX	B	0.05%
TGI	B	0.05%
THS	C	0.05%
FOXF	C	0.05%
ATGE	A	0.05%
SFBS	C	0.05%
DLX	D	0.05%
ICHR	B	0.05%
SMPL	D	0.05%
PAR	B	0.05%
ALHC	B	0.05%
GPRE	F	0.04%
SEDG	F	0.04%
OSCR	D	0.04%
PBI	A	0.04%
SMTC	C	0.04%
AMBC	F	0.04%
PLRX	F	0.04%
CGEM	D	0.04%
PFS	D	0.04%
NVCR	D	0.04%
CMP	F	0.04%
CXM	D	0.04%
HL	C	0.04%
RXRX	F	0.04%
APGE	D	0.04%
NFE	F	0.04%
XNCR	F	0.04%
SYM	D	0.04%
TXG	F	0.04%
ARCT	F	0.04%
OMI	F	0.04%
CHGG	F	0.04%
TARS	C	0.04%
ESTA	D	0.04%
LESL	F	0.04%
ALEC	F	0.04%
MYE	F	0.04%
KYMR	D	0.04%
ALV	D	0.04%
OEC	F	0.04%
COMP	C	0.04%
MTUS	F	0.04%
OMCL	F	0.04%
NVAX	C	0.04%
SKY	F	0.04%
FSLY	F	0.04%
NUVB	C	0.04%
JELD	F	0.04%
RIOT	D	0.04%
DGII	D	0.04%
SAVA	F	0.03%
CYRX	F	0.03%
HOUS	F	0.03%
SANA	F	0.03%
BASE	D	0.03%
MC	A	0.02%
GDOT	F	0.01%

ESML Underweight 425 Positions Relative to IWS

Symbol	Grade	Weight
CEG	B	-0.85%
PH	D	-0.83%
PSX	D	-0.79%
MRVL	C	-0.75%
WELL	A	-0.74%
TDG	D	-0.73%
PCAR	D	-0.69%
TT	B	-0.69%
CARR	C	-0.68%
AJG	A	-0.68%
KKR	C	-0.68%
AFL	B	-0.67%
WMB	B	-0.66%
DLR	B	-0.6%
BK	B	-0.58%
FIS	B	-0.57%
OKE	B	-0.57%
O	C	-0.56%
DHI	D	-0.55%
PRU	B	-0.55%
ALL	D	-0.54%
RSG	A	-0.52%
APH	B	-0.5%
EA	B	-0.49%
CTVA	D	-0.49%
NUE	F	-0.49%
SPG	C	-0.49%
AME	D	-0.49%
CMI	D	-0.49%
COIN	C	-0.49%
OTIS	B	-0.48%
FERG	D	-0.48%
PEG	B	-0.47%
IR	C	-0.47%
FANG	B	-0.46%
PCG	D	-0.46%
LEN	D	-0.46%
CTSH	C	-0.44%
DD	C	-0.44%
BKR	C	-0.44%
MLM	D	-0.43%
URI	D	-0.43%
KR	C	-0.42%
EXR	B	-0.42%
BIIB	C	-0.42%
DFS	B	-0.4%
ACGL	C	-0.4%
ED	D	-0.4%
DVN	D	-0.39%
HWM	C	-0.39%
HIG	C	-0.39%
ON	C	-0.38%
AVB	B	-0.38%
GLW	B	-0.38%
VICI	D	-0.38%
XEL	D	-0.38%
DAL	D	-0.38%
WAB	D	-0.37%
XYL	D	-0.37%
HLT	B	-0.37%
VRT	C	-0.36%
PWR	D	-0.36%
CBRE	C	-0.35%
EIX	C	-0.35%
HPE	C	-0.35%
RCL	B	-0.34%
FSLR	C	-0.34%
EQR	B	-0.33%
TROW	C	-0.33%
VMC	D	-0.33%
TTWO	C	-0.33%
EBAY	B	-0.33%
FTV	D	-0.33%
MTB	C	-0.32%
GPN	D	-0.32%
WEC	D	-0.32%
DOV	D	-0.32%
LYB	D	-0.32%
GRMN	C	-0.32%
WDC	B	-0.32%
AWK	B	-0.32%
HPQ	C	-0.31%
WTW	B	-0.31%
HAL	F	-0.31%
IFF	B	-0.31%
FITB	D	-0.31%
RJF	D	-0.3%
PHM	D	-0.3%
NDAQ	C	-0.29%
ETR	D	-0.29%
ZBH	D	-0.29%
DTE	D	-0.29%
STE	C	-0.28%
INVH	A	-0.28%
DLTR	F	-0.28%
ICLR	B	-0.28%
PPG	D	-0.28%
VST	C	-0.28%
SQ	C	-0.28%
STT	C	-0.28%
WY	F	-0.27%
MKL	D	-0.27%
FE	C	-0.27%
ES	C	-0.26%
CSL	C	-0.26%
CTRA	D	-0.26%
ARE	C	-0.26%
LDOS	B	-0.26%
NVR	D	-0.26%
VTR	A	-0.26%
PPL	D	-0.26%
GPC	D	-0.25%
CNP	B	-0.25%
HBAN	D	-0.24%
CCL	C	-0.24%
AEE	D	-0.24%
MSCI	C	-0.24%
APTV	F	-0.24%
BALL	D	-0.24%
PFG	D	-0.24%
SBAC	F	-0.24%
ENTG	B	-0.24%
STLD	D	-0.24%
J	D	-0.23%
ATO	D	-0.23%
OMC	D	-0.23%
MKC	C	-0.23%
NRG	D	-0.23%
RF	B	-0.23%
SYF	B	-0.23%
CINF	C	-0.23%
HES	D	-0.23%
TDY	D	-0.23%
NTRS	C	-0.22%
BLDR	F	-0.22%
SWKS	C	-0.22%
BAX	C	-0.22%
TXT	D	-0.22%
LUV	D	-0.22%
COO	D	-0.22%
HOLX	C	-0.22%
CSGP	F	-0.22%
LII	B	-0.22%
CMS	D	-0.22%
LH	C	-0.22%
ESS	B	-0.22%
KEYS	D	-0.22%
WRB	C	-0.21%
RS	D	-0.21%
WSM	D	-0.21%
NTAP	A	-0.21%
CFG	B	-0.21%
FCNCA	C	-0.21%
WBD	F	-0.21%
PKG	C	-0.21%
MAA	C	-0.21%
MRO	B	-0.21%
OC	D	-0.2%
DGX	C	-0.2%
BG	B	-0.2%
EXPD	B	-0.2%
TSN	D	-0.2%
UAL	D	-0.2%
CF	F	-0.19%
AVTR	D	-0.19%
MAS	D	-0.19%
VRSN	C	-0.19%
K	D	-0.19%
IP	C	-0.19%
ZM	F	-0.19%
BMRN	C	-0.18%
L	D	-0.18%
IEX	D	-0.18%
BBY	C	-0.18%
FWONK	B	-0.18%
AMCR	D	-0.18%
EG	D	-0.18%
HOOD	B	-0.18%
UTHR	B	-0.18%
TRU	C	-0.18%
LNT	B	-0.17%
RVTY	D	-0.17%
BRO	B	-0.17%
NDSN	D	-0.17%
OKTA	C	-0.17%
SNA	F	-0.17%
EQT	D	-0.17%
AKAM	F	-0.17%
CE	F	-0.17%
CAG	D	-0.17%
SSNC	B	-0.17%
MCHP	C	-0.17%
DOC	B	-0.17%
TRMB	C	-0.17%
WPC	D	-0.16%
ACM	D	-0.16%
AVY	D	-0.16%
AMH	A	-0.16%
APP	B	-0.16%
PNR	D	-0.16%
SWK	D	-0.16%
VTRS	D	-0.16%
KIM	B	-0.16%
UDR	B	-0.16%
HST	D	-0.16%
WRK	C	-0.16%
KEY	C	-0.16%
ZBRA	C	-0.16%
UHS	C	-0.15%
FNF	D	-0.15%
EME	D	-0.15%
CPT	B	-0.15%
GLPI	B	-0.15%
SUI	C	-0.15%
JNPR	B	-0.15%
DKS	C	-0.15%
IRM	B	-0.15%
EMN	D	-0.15%
GEN	B	-0.15%
WSO	B	-0.15%
ILMN	D	-0.15%
EVRG	D	-0.15%
MGM	B	-0.15%
NI	B	-0.15%
CAH	D	-0.15%
NWSA	B	-0.14%
CRL	F	-0.14%
ALLY	B	-0.14%
HUBB	C	-0.14%
LYV	C	-0.14%
KMX	C	-0.14%
QRVO	B	-0.14%
RPM	D	-0.14%
SJM	D	-0.14%
LKQ	F	-0.14%
REG	B	-0.14%
ALB	F	-0.14%
IPG	F	-0.14%
HII	D	-0.13%
NLY	C	-0.13%
RPRX	F	-0.13%
PTC	B	-0.13%
CNH	F	-0.13%
FFIV	C	-0.13%
CTLT	B	-0.13%
CHK	D	-0.13%
JBHT	F	-0.13%
EFX	B	-0.12%
AFG	D	-0.12%
DOX	D	-0.12%
FAST	D	-0.12%
QGEN	D	-0.12%
WTRG	C	-0.12%
NU	B	-0.12%
MOS	F	-0.12%
BXP	C	-0.12%
TFX	C	-0.12%
DRI	D	-0.12%
RIVN	C	-0.12%
JKHY	C	-0.11%
FBIN	F	-0.11%
FOXA	B	-0.11%
HSIC	D	-0.11%
CG	C	-0.11%
DINO	D	-0.11%
WYNN	D	-0.11%
PNW	C	-0.11%
SKX	C	-0.11%
CPB	B	-0.11%
WBA	F	-0.11%
HRL	F	-0.11%
BBWI	F	-0.11%
AOS	D	-0.11%
TAP	F	-0.11%
AIZ	D	-0.11%
DASH	C	-0.1%
CLF	D	-0.1%
KNX	C	-0.1%
ACI	F	-0.1%
RBC	C	-0.1%
GDDY	A	-0.1%
ELS	C	-0.1%
GGG	D	-0.1%
GNTX	D	-0.1%
TWLO	D	-0.1%
SNX	D	-0.1%
MOH	F	-0.1%
TW	C	-0.1%
CCK	F	-0.1%
CTAS	A	-0.09%
OVV	D	-0.09%
BEN	F	-0.09%
DAY	F	-0.09%
OWL	D	-0.09%
KEX	B	-0.09%
A	D	-0.09%
OGE	C	-0.09%
Z	C	-0.09%
PARA	C	-0.08%
ALNY	A	-0.08%
SAIC	D	-0.08%
HLI	A	-0.08%
STAG	B	-0.08%
SEIC	D	-0.08%
ROKU	C	-0.08%
H	C	-0.08%
MIDD	F	-0.08%
EXAS	D	-0.07%
RITM	D	-0.07%
PB	D	-0.07%
XP	F	-0.07%
SRCL	B	-0.07%
ESAB	D	-0.07%
AZPN	D	-0.07%
PFGC	D	-0.07%
BIO	D	-0.07%
OLN	F	-0.07%
AIRC	A	-0.07%
FOX	B	-0.06%
EXPE	C	-0.06%
YUM	D	-0.06%
AAL	F	-0.06%
IDA	D	-0.06%
GFS	C	-0.06%
CZR	C	-0.06%
WLK	D	-0.06%
ANSS	C	-0.06%
AES	D	-0.06%
LBRDK	C	-0.06%
JBL	F	-0.06%
TYL	A	-0.06%
MSM	F	-0.05%
UHAL	D	-0.05%
HUN	F	-0.05%
TER	A	-0.05%
COTY	F	-0.05%
PII	F	-0.05%
BR	B	-0.05%
RGEN	F	-0.05%
BEPC	D	-0.05%
LAZ	C	-0.05%
PSTG	B	-0.05%
G	D	-0.05%
APA	F	-0.04%
IQV	D	-0.04%
PENN	C	-0.04%
PAG	D	-0.04%
U	F	-0.04%
CXT	D	-0.04%
INCY	D	-0.04%
ETSY	F	-0.04%
NSA	B	-0.04%
CACC	B	-0.04%
NEU	D	-0.04%
ROST	B	-0.04%
LSXMK	C	-0.04%
RBA	B	-0.04%
NWS	B	-0.04%
MSGS	B	-0.04%
IAC	F	-0.04%
SLGN	D	-0.04%
NCNO	B	-0.03%
TPG	D	-0.03%
CHRW	C	-0.03%
EEFT	D	-0.03%
LAMR	B	-0.03%
ODFL	C	-0.03%
IPGP	D	-0.03%
ZG	C	-0.03%
DNB	F	-0.03%
BOKF	D	-0.03%
AGR	C	-0.03%
EXP	D	-0.03%
BHF	F	-0.03%
FHB	C	-0.03%
CHD	C	-0.03%
MP	D	-0.02%
UA	F	-0.02%
CPAY	D	-0.02%
HEI	B	-0.02%
VSAT	F	-0.02%
FWONA	C	-0.02%
REYN	D	-0.02%
LSXMA	C	-0.02%
PPC	B	-0.02%
NATL	B	-0.02%
CDW	D	-0.02%
LLYVK	C	-0.02%
SIRI	C	-0.02%
PHIN	D	-0.02%
LEN	D	-0.02%
EXEL	C	-0.02%
TRIP	F	-0.02%
VIRT	C	-0.02%
DNA	F	-0.01%
HTZ	F	-0.01%
UWMC	D	-0.01%
MCW	F	-0.01%
TFSL	D	-0.01%
TECH	D	-0.01%
SEB	F	-0.01%
LW	F	-0.01%
LLYVA	C	-0.01%
BSY	D	-0.01%
DRVN	C	-0.01%
MTCH	F	-0.01%
ALLE	D	-0.01%
SSRM	F	-0.01%
IONS	B	-0.01%
BIRK	B	-0.01%
HE	F	-0.01%
HEI	B	-0.01%
PATH	D	-0.01%
CNA	B	-0.01%
RNAC	F	-0.0%
PLTK	F	-0.0%
UI	B	-0.0%
OLPX	F	-0.0%
PARAA	C	-0.0%
CART	C	-0.0%
SAM	C	-0.0%
GRAL	D	-0.0%
MRVI	F	-0.0%
UHAL	D	-0.0%
NLOP	C	-0.0%