ESML vs. MFUS ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS)

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

MFUS

PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF

MFUS Description

The investment seeks to track the investment results of the RAFI Dynamic Multi-Factor U.S. Index. The fund seeks to achieve its investment objective by investing at least 80% of its total assets (exclusive of collateral held from securities lending) in the component securities of the RAFI Dynamic Multi-Factor U.S. Index. The underlying index is constructed by RAFI Indices, LLC (the index provider) using a rules-based approach to construct factor portfolios within the underlying index. The underlying index consists of factor portfolios, each of which emphasizes one of the following factors: value, low volatility, quality, momentum and size.

Grade (RS Rating)

Last Trade

$51.89

Average Daily Volume

5,619

Number of Holdings ^*

815

* may have additional holdings in another (foreign) market

Performance

Period	ESML	MFUS
30 Days	8.75%	2.73%
60 Days	8.59%	3.41%
90 Days	9.69%	5.38%
12 Months	34.45%	32.49%

290 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in MFUS	Overlap
AA	B	0.19%	0.02%	0.02%
AAP	C	0.06%	0.01%	0.01%
ABG	B	0.12%	0.08%	0.08%
ABM	B	0.09%	0.04%	0.04%
ACA	A	0.14%	0.03%	0.03%
ADC	B	0.11%	0.01%	0.01%
AEO	F	0.08%	0.07%	0.07%
AGCO	D	0.13%	0.02%	0.02%
AGNC	D	0.12%	0.04%	0.04%
AIR	B	0.06%	0.02%	0.02%
ALSN	B	0.26%	0.11%	0.11%
AMED	F	0.09%	0.01%	0.01%
AMG	B	0.19%	0.06%	0.06%
AMWD	C	0.08%	0.01%	0.01%
AN	C	0.07%	0.06%	0.06%
ANDE	D	0.06%	0.02%	0.02%
ANF	C	0.15%	0.25%	0.15%
APAM	B	0.1%	0.03%	0.03%
APG	B	0.06%	0.02%	0.02%
AR	B	0.22%	0.05%	0.05%
ARMK	B	0.23%	0.01%	0.01%
AROC	B	0.1%	0.04%	0.04%
ARW	D	0.09%	0.04%	0.04%
ATGE	B	0.06%	0.06%	0.06%
ATI	D	0.14%	0.04%	0.04%
ATR	B	0.24%	0.08%	0.08%
AVA	A	0.19%	0.03%	0.03%
AVT	C	0.27%	0.04%	0.04%
AWI	A	0.23%	0.04%	0.04%
AXTA	A	0.27%	0.02%	0.02%
AYI	B	0.34%	0.1%	0.1%
BC	C	0.07%	0.06%	0.06%
BCC	B	0.16%	0.07%	0.07%
BDC	B	0.2%	0.04%	0.04%
BERY	B	0.17%	0.06%	0.06%
BFAM	D	0.2%	0.02%	0.02%
BHE	B	0.16%	0.02%	0.02%
BJ	A	0.25%	0.03%	0.03%
BKU	A	0.06%	0.03%	0.03%
BLD	D	0.26%	0.03%	0.03%
BRC	D	0.09%	0.01%	0.01%
BRKR	D	0.13%	0.02%	0.02%
BWA	D	0.18%	0.01%	0.01%
BWXT	B	0.3%	0.11%	0.11%
CACI	D	0.21%	0.09%	0.09%
CADE	B	0.15%	0.01%	0.01%
CALM	A	0.06%	0.09%	0.06%
CASY	A	0.52%	0.16%	0.16%
CBSH	A	0.23%	0.01%	0.01%
CBT	C	0.13%	0.05%	0.05%
CC	C	0.05%	0.02%	0.02%
CDP	C	0.21%	0.03%	0.03%
CFR	B	0.1%	0.01%	0.01%
CHE	D	0.14%	0.06%	0.06%
CLF	F	0.06%	0.01%	0.01%
CLH	B	0.06%	0.04%	0.04%
CMA	A	0.21%	0.04%	0.04%
CMC	B	0.22%	0.06%	0.06%
CNM	D	0.22%	0.01%	0.01%
CNO	A	0.2%	0.05%	0.05%
CNX	A	0.28%	0.07%	0.07%
COHR	B	0.28%	0.03%	0.03%
COKE	C	0.06%	0.03%	0.03%
COLD	D	0.05%	0.03%	0.03%
COOP	B	0.05%	0.05%	0.05%
CPRI	F	0.03%	0.01%	0.01%
CR	A	0.19%	0.01%	0.01%
CRI	D	0.04%	0.05%	0.04%
CROX	D	0.15%	0.01%	0.01%
CRS	A	0.15%	0.11%	0.11%
CRUS	D	0.15%	0.04%	0.04%
CSGS	B	0.11%	0.01%	0.01%
CUBE	D	0.2%	0.04%	0.04%
CVLT	B	0.22%	0.04%	0.04%
CW	B	0.23%	0.11%	0.11%
CWEN	C	0.05%	0.01%	0.01%
CWEN	C	0.07%	0.01%	0.01%
DCI	B	0.25%	0.04%	0.04%
DEI	B	0.02%	0.01%	0.01%
DK	C	0.04%	0.03%	0.03%
DLB	B	0.16%	0.02%	0.02%
DNOW	B	0.05%	0.02%	0.02%
DTM	B	0.28%	0.01%	0.01%
DXC	B	0.11%	0.01%	0.01%
DY	D	0.1%	0.01%	0.01%
ECPG	B	0.11%	0.01%	0.01%
EHC	B	0.29%	0.09%	0.09%
ELAN	D	0.16%	0.01%	0.01%
EPC	D	0.04%	0.02%	0.02%
ESI	A	0.14%	0.01%	0.01%
ESNT	D	0.07%	0.01%	0.01%
EVR	B	0.12%	0.13%	0.12%
EWBC	A	0.4%	0.02%	0.02%
EXP	A	0.06%	0.07%	0.06%
FAF	A	0.16%	0.02%	0.02%
FCN	D	0.19%	0.05%	0.05%
FELE	B	0.22%	0.01%	0.01%
FHN	A	0.23%	0.01%	0.01%
FIX	A	0.38%	0.06%	0.06%
FL	F	0.06%	0.04%	0.04%
FLEX	A	0.33%	0.05%	0.05%
FLO	D	0.04%	0.04%	0.04%
FLR	B	0.1%	0.01%	0.01%
FR	C	0.09%	0.01%	0.01%
FTI	A	0.35%	0.04%	0.04%
FYBR	D	0.13%	0.01%	0.01%
GAP	C	0.12%	0.06%	0.06%
GATX	A	0.17%	0.04%	0.04%
GBX	A	0.07%	0.04%	0.04%
GEF	A	0.05%	0.02%	0.02%
GEF	A	0.05%	0.02%	0.02%
GME	C	0.21%	0.02%	0.02%
GMED	A	0.11%	0.03%	0.03%
GNRC	B	0.22%	0.06%	0.06%
GPI	A	0.19%	0.09%	0.09%
GPK	C	0.26%	0.08%	0.08%
GT	C	0.07%	0.02%	0.02%
GVA	A	0.08%	0.05%	0.05%
GWRE	A	0.43%	0.02%	0.02%
HAE	C	0.12%	0.03%	0.03%
HBI	B	0.07%	0.05%	0.05%
HCC	B	0.05%	0.07%	0.05%
HNI	B	0.15%	0.02%	0.02%
HOG	D	0.2%	0.02%	0.02%
HRB	D	0.19%	0.08%	0.08%
HXL	D	0.14%	0.03%	0.03%
IBKR	A	0.32%	0.06%	0.06%
ICUI	D	0.08%	0.01%	0.01%
IDCC	A	0.14%	0.01%	0.01%
INGR	B	0.42%	0.07%	0.07%
IOSP	B	0.08%	0.02%	0.02%
ITT	A	0.28%	0.08%	0.08%
IVZ	B	0.24%	0.03%	0.03%
JBGS	D	0.05%	0.01%	0.01%
JEF	A	0.11%	0.03%	0.03%
JELD	F	0.03%	0.01%	0.01%
JHG	A	0.51%	0.04%	0.04%
JLL	D	0.34%	0.06%	0.06%
JWN	C	0.06%	0.04%	0.04%
JXN	C	0.14%	0.1%	0.1%
KBH	D	0.2%	0.03%	0.03%
KBR	F	0.35%	0.02%	0.02%
KD	B	0.1%	0.05%	0.05%
KMPR	B	0.05%	0.03%	0.03%
KSS	F	0.05%	0.02%	0.02%
KTB	B	0.16%	0.06%	0.06%
LAD	A	0.22%	0.02%	0.02%
LBRDK	C	0.07%	0.03%	0.03%
LEA	D	0.1%	0.01%	0.01%
LECO	B	0.2%	0.06%	0.06%
LEG	F	0.05%	0.02%	0.02%
LNC	B	0.09%	0.03%	0.03%
LNW	D	0.19%	0.02%	0.02%
LOPE	B	0.05%	0.05%	0.05%
LPX	B	0.17%	0.08%	0.08%
LSTR	D	0.21%	0.09%	0.09%
LUMN	C	0.19%	0.06%	0.06%
LXP	D	0.06%	0.02%	0.02%
M	D	0.13%	0.02%	0.02%
MAC	B	0.08%	0.04%	0.04%
MAN	D	0.06%	0.03%	0.03%
MASI	A	0.06%	0.03%	0.03%
MC	C	0.02%	0.03%	0.02%
MDU	D	0.18%	0.02%	0.02%
MHK	D	0.07%	0.01%	0.01%
MHO	D	0.05%	0.04%	0.04%
MKSI	C	0.14%	0.01%	0.01%
MLKN	D	0.04%	0.01%	0.01%
MMS	F	0.04%	0.05%	0.04%
MOG.A	B	0.24%	0.05%	0.05%
MORN	B	0.18%	0.03%	0.03%
MSA	D	0.17%	0.02%	0.02%
MTG	C	0.23%	0.02%	0.02%
MTH	D	0.17%	0.06%	0.06%
MTN	C	0.2%	0.05%	0.05%
MUR	D	0.13%	0.01%	0.01%
MUSA	A	0.34%	0.16%	0.16%
NFG	A	0.2%	0.05%	0.05%
NOV	C	0.15%	0.01%	0.01%
NSIT	F	0.13%	0.05%	0.05%
NWL	B	0.1%	0.02%	0.02%
NXST	C	0.09%	0.05%	0.05%
NYT	C	0.18%	0.03%	0.03%
OGN	D	0.09%	0.04%	0.04%
OHI	C	0.19%	0.02%	0.02%
OMF	A	0.2%	0.03%	0.03%
OMI	F	0.04%	0.01%	0.01%
ONB	B	0.19%	0.01%	0.01%
ORA	B	0.11%	0.02%	0.02%
OSK	B	0.3%	0.04%	0.04%
OUT	A	0.07%	0.01%	0.01%
PBF	D	0.06%	0.02%	0.02%
PDCO	D	0.13%	0.02%	0.02%
PECO	A	0.07%	0.01%	0.01%
PFSI	D	0.1%	0.02%	0.02%
PINC	B	0.14%	0.03%	0.03%
PK	B	0.06%	0.06%	0.06%
PLXS	B	0.17%	0.03%	0.03%
POST	C	0.09%	0.05%	0.05%
PRG	C	0.05%	0.03%	0.03%
PRIM	A	0.14%	0.05%	0.05%
PSMT	C	0.05%	0.01%	0.01%
PSN	D	0.1%	0.02%	0.02%
PTEN	C	0.04%	0.01%	0.01%
PVH	C	0.16%	0.02%	0.02%
R	B	0.29%	0.07%	0.07%
RDN	C	0.09%	0.01%	0.01%
REZI	A	0.23%	0.02%	0.02%
RGA	A	0.3%	0.06%	0.06%
RGLD	C	0.29%	0.04%	0.04%
RHI	B	0.21%	0.02%	0.02%
RKT	F	0.04%	0.01%	0.01%
RL	B	0.09%	0.03%	0.03%
RLI	B	0.2%	0.03%	0.03%
RRC	B	0.25%	0.03%	0.03%
RUSHA	C	0.05%	0.04%	0.04%
RYN	D	0.05%	0.02%	0.02%
SATS	D	0.06%	0.01%	0.01%
SBH	C	0.05%	0.02%	0.02%
SCI	B	0.27%	0.07%	0.07%
SCL	C	0.1%	0.01%	0.01%
SEE	C	0.07%	0.06%	0.06%
SEM	B	0.07%	0.04%	0.04%
SF	B	0.18%	0.02%	0.02%
SFM	A	0.43%	0.25%	0.25%
SHOO	D	0.11%	0.03%	0.03%
SIG	B	0.1%	0.04%	0.04%
SIGI	C	0.29%	0.01%	0.01%
SLG	B	0.1%	0.08%	0.08%
SLM	A	0.16%	0.06%	0.06%
SLVM	B	0.05%	0.04%	0.04%
SM	B	0.06%	0.03%	0.03%
SNDR	B	0.19%	0.02%	0.02%
SNV	B	0.3%	0.02%	0.02%
SON	D	0.11%	0.04%	0.04%
SPB	C	0.08%	0.01%	0.01%
SPR	D	0.05%	0.01%	0.01%
SR	A	0.14%	0.01%	0.01%
SSB	B	0.27%	0.01%	0.01%
STC	B	0.08%	0.02%	0.02%
SWX	B	0.13%	0.01%	0.01%
SXT	B	0.07%	0.02%	0.02%
TDC	D	0.1%	0.01%	0.01%
TDS	B	0.08%	0.05%	0.05%
TEX	D	0.08%	0.05%	0.05%
TGNA	B	0.2%	0.05%	0.05%
THC	D	0.23%	0.28%	0.23%
THG	A	0.18%	0.05%	0.05%
THO	B	0.12%	0.07%	0.07%
THS	D	0.04%	0.02%	0.02%
TMHC	B	0.17%	0.09%	0.09%
TNET	D	0.08%	0.01%	0.01%
TOL	B	0.27%	0.06%	0.06%
TPH	D	0.14%	0.06%	0.06%
TPR	B	0.29%	0.01%	0.01%
TPX	B	0.14%	0.03%	0.03%
TRN	C	0.1%	0.04%	0.04%
TTEK	F	0.16%	0.01%	0.01%
TXRH	C	0.11%	0.06%	0.06%
UGI	A	0.24%	0.01%	0.01%
UNM	A	0.25%	0.04%	0.04%
USFD	A	0.49%	0.05%	0.05%
VC	D	0.1%	0.03%	0.03%
VFC	C	0.18%	0.02%	0.02%
VNO	B	0.09%	0.07%	0.07%
VNT	B	0.15%	0.01%	0.01%
VSCO	B	0.07%	0.02%	0.02%
VVV	F	0.17%	0.02%	0.02%
WAL	B	0.22%	0.02%	0.02%
WBS	A	0.27%	0.02%	0.02%
WCC	B	0.24%	0.09%	0.09%
WEN	D	0.09%	0.05%	0.05%
WERN	C	0.12%	0.04%	0.04%
WGO	C	0.12%	0.01%	0.01%
WH	B	0.15%	0.04%	0.04%
WHR	B	0.2%	0.03%	0.03%
WKC	D	0.05%	0.02%	0.02%
WMS	D	0.21%	0.02%	0.02%
WOLF	F	0.03%	0.0%	0.0%
WTFC	A	0.07%	0.01%	0.01%
WTM	A	0.13%	0.04%	0.04%
WU	D	0.07%	0.06%	0.06%
WWD	B	0.19%	0.01%	0.01%
X	C	0.14%	0.03%	0.03%
XHR	B	0.07%	0.02%	0.02%
XPO	B	0.33%	0.04%	0.04%
XRAY	F	0.05%	0.02%	0.02%
XRX	F	0.04%	0.01%	0.01%
YELP	C	0.05%	0.02%	0.02%
ZION	B	0.2%	0.02%	0.02%

ESML Overweight 614 Positions Relative to MFUS

Symbol	Grade	Weight
CVNA	B	0.48%
NTNX	A	0.36%
FRT	B	0.31%
REXR	F	0.31%
NTRA	B	0.31%
OGS	A	0.31%
GBCI	B	0.3%
BMI	B	0.3%
PNFP	B	0.3%
SUM	B	0.28%
SAIA	B	0.28%
UMBF	B	0.27%
MWA	B	0.25%
WEX	D	0.25%
AAON	B	0.25%
PRGS	A	0.24%
FTAI	B	0.24%
RNR	C	0.24%
HRI	B	0.24%
NCLH	B	0.24%
AFRM	B	0.23%
PRI	A	0.23%
EXLS	B	0.23%
ALK	C	0.23%
SOFI	A	0.22%
FTDR	A	0.22%
EGP	F	0.21%
WTS	B	0.21%
INSM	C	0.21%
PCVX	D	0.21%
ONTO	D	0.21%
CUZ	B	0.21%
NJR	A	0.21%
ITRI	B	0.2%
FND	C	0.2%
KNSL	B	0.2%
FBP	B	0.2%
PLNT	A	0.2%
PCTY	B	0.2%
BHLB	B	0.2%
ENSG	D	0.2%
HHH	B	0.2%
WK	B	0.2%
ZWS	B	0.2%
PR	B	0.19%
WING	D	0.19%
CIEN	B	0.19%
HAS	D	0.19%
AXS	A	0.19%
DAR	C	0.19%
FRPT	B	0.19%
NOVT	D	0.19%
RHP	B	0.19%
NVT	B	0.19%
BANR	B	0.18%
SRPT	D	0.18%
SPXC	A	0.18%
GKOS	B	0.18%
KNTK	B	0.18%
DUOL	A	0.18%
EPRT	B	0.18%
ENLC	A	0.18%
AEIS	B	0.17%
LAZ	B	0.17%
CHX	C	0.17%
FN	D	0.17%
PCH	D	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
ASB	B	0.17%
UBSI	B	0.17%
WSC	D	0.17%
MTZ	B	0.17%
RGEN	D	0.16%
BRX	A	0.16%
MYRG	B	0.16%
DBX	B	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%
JAZZ	B	0.16%
SITE	D	0.16%
FLS	B	0.16%
GXO	B	0.16%
VOYA	B	0.16%
CFLT	B	0.15%
VLY	B	0.15%
ECG	C	0.15%
MEDP	D	0.15%
CPF	A	0.15%
MMSI	B	0.15%
FSS	B	0.15%
AM	A	0.15%
FIBK	A	0.15%
LSCC	D	0.15%
RRX	B	0.15%
ITCI	C	0.15%
MOD	A	0.15%
WFRD	D	0.15%
GTLB	B	0.15%
OZK	B	0.14%
BECN	B	0.14%
CHDN	B	0.14%
GTLS	B	0.14%
LFUS	F	0.14%
RYAN	B	0.14%
SMAR	A	0.14%
ALTR	B	0.14%
RMBS	C	0.14%
IBCP	B	0.14%
BILL	A	0.14%
ASGN	F	0.14%
CZR	F	0.14%
FMC	D	0.14%
AVAV	D	0.13%
HESM	B	0.13%
EPAC	B	0.13%
CAVA	B	0.13%
AIT	A	0.13%
MAT	D	0.13%
STRL	B	0.13%
LRN	A	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%
BOX	B	0.13%
NPO	A	0.13%
BCPC	B	0.13%
VMI	B	0.13%
ELF	C	0.13%
COLB	A	0.13%
CABO	C	0.13%
HIW	D	0.13%
CVBF	A	0.12%
OLLI	D	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%
WHD	B	0.12%
BLKB	B	0.12%
S	B	0.12%
GL	B	0.12%
CRDO	B	0.12%
MTX	B	0.12%
ADT	C	0.12%
FULT	A	0.12%
PEGA	A	0.11%
PATH	C	0.11%
KRC	C	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%
CRNX	C	0.11%
APPF	B	0.11%
EFSC	B	0.11%
MRCY	B	0.11%
HALO	F	0.11%
LBRDA	C	0.11%
KAR	B	0.11%
RXO	C	0.1%
HASI	D	0.1%
ERII	D	0.1%
PJT	A	0.1%
RVMD	C	0.1%
HCP	B	0.1%
BRBR	A	0.1%
TENB	C	0.1%
ALKS	B	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%
BHVN	D	0.1%
DNLI	D	0.1%
DRS	B	0.1%
CRC	B	0.1%
LITE	B	0.1%
TRNO	F	0.1%
AL	B	0.1%
RDUS	C	0.1%
CCOI	B	0.1%
RDNT	B	0.1%
AMAL	B	0.1%
CGNX	C	0.1%
LCII	C	0.1%
ALTM	C	0.1%
LNTH	D	0.1%
FIVE	F	0.1%
RNA	D	0.09%
NMIH	D	0.09%
UPST	B	0.09%
U	C	0.09%
KFY	B	0.09%
CNK	B	0.09%
SHAK	C	0.09%
MGRC	B	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%
SJW	D	0.09%
ATKR	C	0.09%
HWC	B	0.09%
MARA	C	0.09%
CRVL	A	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%
OLED	D	0.08%
KTOS	B	0.08%
KOP	C	0.08%
ICFI	F	0.08%
AUR	C	0.08%
EWTX	C	0.08%
BPMC	C	0.08%
IESC	B	0.08%
BL	B	0.08%
TILE	B	0.08%
TBBK	B	0.08%
ACLX	C	0.08%
SNX	C	0.08%
CRSP	D	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%
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%
PIPR	B	0.08%
TARS	B	0.08%
PRKS	C	0.08%
BWIN	D	0.08%
HR	C	0.08%
NTGR	B	0.08%
UNIT	B	0.08%
BOH	B	0.08%
LNN	B	0.08%
PRCT	B	0.08%
JBT	B	0.08%
DOCS	C	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%
RARE	D	0.07%
UEC	B	0.07%
HGV	B	0.07%
ESRT	C	0.07%
HAFC	A	0.07%
COLM	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%
ALHC	C	0.07%
AZTA	D	0.07%
HIMS	B	0.07%
HWKN	B	0.07%
GH	B	0.07%
BROS	B	0.07%
FIVN	C	0.07%
ATRC	C	0.07%
VCTR	B	0.07%
CTS	C	0.07%
WRBY	B	0.07%
PI	D	0.07%
CCCS	B	0.07%
NWN	A	0.07%
AZZ	B	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%
WT	B	0.06%
SG	B	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%
W	F	0.06%
MBUU	C	0.06%
PTCT	B	0.06%
PLAY	D	0.06%
EXPO	D	0.06%
AXSM	B	0.06%
MOV	C	0.06%
AGIO	C	0.06%
NRIX	D	0.06%
VRNT	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%
ATEN	B	0.06%
ROCK	C	0.06%
PNTG	D	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%
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%
PLUS	F	0.06%
OWL	A	0.06%
NVST	B	0.06%
PPBI	B	0.06%
ACVA	B	0.06%
RCM	F	0.06%
ROIV	C	0.06%
FLYW	C	0.06%
IDYA	F	0.06%
HURN	B	0.06%
EYE	C	0.06%
ADMA	B	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%
VRNS	D	0.06%
MRUS	F	0.06%
FOUR	B	0.06%
VRDN	D	0.06%
VERX	B	0.06%
PDM	D	0.06%
PAHC	C	0.06%
UPBD	B	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%
SWTX	C	0.05%
KLG	C	0.05%
RXST	F	0.05%
EWCZ	F	0.05%
TWST	D	0.05%
HZO	D	0.05%
BNL	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%
HLX	B	0.05%
ALRM	C	0.05%
IONS	F	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%
FTRE	D	0.05%
INFA	D	0.05%
CPRX	C	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%
GOGO	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%
AMBC	C	0.05%
PTGX	C	0.05%
BEAM	D	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%
MNRO	D	0.05%
SMP	B	0.05%
VITL	D	0.05%
LCID	F	0.05%
ELVN	D	0.05%
MTTR	B	0.05%
GO	C	0.05%
KYMR	D	0.05%
HAYW	B	0.05%
EMBC	C	0.05%
NEO	C	0.05%
XPRO	F	0.05%
RAMP	C	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%
FFBC	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%
EPR	D	0.05%
MDGL	B	0.05%
ASTE	B	0.05%
CUBI	C	0.05%
ARWR	F	0.05%
KVYO	C	0.05%
UFPT	B	0.05%
RNG	B	0.05%
HLIT	D	0.05%
TNC	D	0.05%
ARQT	C	0.05%
NUVL	D	0.05%
UAA	C	0.05%
MXL	C	0.05%
NCNO	B	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%
RCKT	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%
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	F	0.04%
CGEM	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%
AMN	F	0.04%
OSCR	D	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%
QDEL	F	0.04%
ARLO	C	0.04%
ALEC	F	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%
UCB	A	0.04%
KRYS	B	0.04%
RXRX	F	0.04%
GRBK	D	0.04%
TROX	D	0.04%
COGT	D	0.04%
AHH	D	0.04%
NEOG	F	0.04%
NVAX	F	0.03%
ANAB	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%
CCRN	F	0.03%
MYGN	F	0.03%
ETWO	F	0.03%
BRY	F	0.03%
MQ	F	0.03%
STAA	F	0.03%
KELYA	F	0.03%
AGL	F	0.02%
NOVA	F	0.02%
VSAT	F	0.02%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	D	0.01%
MAGN	F	0.01%

ESML Underweight 527 Positions Relative to MFUS

Symbol	Grade	Weight
BRK.A	B	-2.42%
LLY	F	-2.39%
META	D	-2.35%
NVDA	C	-1.9%
WMT	A	-1.71%
AMZN	C	-1.71%
AVGO	D	-1.59%
ORCL	B	-1.52%
ABBV	D	-1.36%
COST	B	-1.35%
JNJ	D	-1.18%
IBM	C	-1.05%
PG	A	-1.01%
VZ	C	-1.0%
KO	D	-1.0%
JPM	A	-0.99%
WFC	A	-0.97%
AAPL	C	-0.96%
AMGN	D	-0.94%
GILD	C	-0.87%
PM	B	-0.87%
MRK	F	-0.84%
UNH	C	-0.79%
QCOM	F	-0.77%
LMT	D	-0.75%
PEP	F	-0.74%
TGT	F	-0.74%
MO	A	-0.73%
T	A	-0.73%
C	A	-0.69%
CSCO	B	-0.68%
CVS	D	-0.65%
MCK	B	-0.63%
HD	A	-0.62%
MMM	D	-0.6%
PGR	A	-0.59%
PFE	D	-0.57%
GE	D	-0.56%
AMAT	F	-0.55%
MCD	D	-0.53%
NFLX	A	-0.52%
UNP	C	-0.51%
BAC	A	-0.45%
XOM	B	-0.43%
TMUS	B	-0.43%
BKNG	A	-0.42%
GS	A	-0.41%
BMY	B	-0.41%
GM	B	-0.4%
CVX	A	-0.39%
KR	B	-0.38%
TJX	A	-0.37%
NOW	A	-0.36%
EBAY	D	-0.36%
REGN	F	-0.36%
CL	D	-0.35%
LOW	D	-0.35%
NOC	D	-0.35%
MPC	D	-0.34%
AIG	B	-0.34%
MET	A	-0.32%
V	A	-0.31%
SYF	B	-0.31%
CHTR	C	-0.3%
ISRG	A	-0.29%
ICE	C	-0.29%
TXN	C	-0.29%
COF	B	-0.29%
SPGI	C	-0.29%
WM	A	-0.28%
MA	C	-0.28%
HPQ	B	-0.28%
TMO	F	-0.28%
AZO	C	-0.28%
CAH	B	-0.27%
LHX	C	-0.26%
ALL	A	-0.26%
FICO	B	-0.25%
ACN	C	-0.25%
PANW	C	-0.25%
HCA	F	-0.25%
DHR	F	-0.24%
GD	F	-0.24%
UPS	C	-0.24%
AON	A	-0.24%
KLAC	D	-0.23%
AXP	A	-0.23%
MDLZ	F	-0.23%
PLTR	B	-0.23%
PSX	C	-0.23%
PRU	A	-0.23%
VST	B	-0.23%
RTX	C	-0.22%
SHW	A	-0.22%
NEE	D	-0.22%
ADM	D	-0.22%
MS	A	-0.22%
VRTX	F	-0.22%
UBER	D	-0.21%
BBY	D	-0.21%
LII	A	-0.21%
AFL	B	-0.21%
GWW	B	-0.21%
MSI	B	-0.2%
MMC	B	-0.2%
GLW	B	-0.2%
INTC	D	-0.2%
TRV	B	-0.2%
BSX	B	-0.2%
ORLY	B	-0.2%
CAT	B	-0.2%
CMG	B	-0.2%
FI	A	-0.19%
BLK	C	-0.19%
UTHR	C	-0.19%
CTAS	B	-0.19%
TSN	B	-0.18%
BK	A	-0.18%
AMP	A	-0.18%
WSM	B	-0.18%
EA	A	-0.18%
DECK	A	-0.17%
HWM	A	-0.17%
COR	B	-0.17%
BR	A	-0.17%
LRCX	F	-0.17%
WSO	A	-0.17%
GIS	D	-0.17%
ELV	F	-0.16%
NEM	D	-0.16%
MU	D	-0.16%
AJG	B	-0.16%
RMD	C	-0.16%
F	C	-0.16%
DVA	B	-0.16%
CB	C	-0.16%
VLO	C	-0.16%
KMB	D	-0.16%
SPG	B	-0.16%
CMCSA	B	-0.16%
VRSK	A	-0.16%
TDG	D	-0.15%
MCO	B	-0.15%
BAH	F	-0.15%
KHC	F	-0.15%
IT	C	-0.15%
K	A	-0.15%
LYB	F	-0.15%
KKR	A	-0.15%
CME	A	-0.14%
CHRW	C	-0.14%
ANET	C	-0.14%
CMI	A	-0.14%
VTRS	A	-0.14%
PH	A	-0.14%
BX	A	-0.13%
SO	D	-0.13%
DPZ	C	-0.13%
FAST	B	-0.13%
DUK	C	-0.13%
JNPR	F	-0.13%
RSG	A	-0.13%
RPM	A	-0.13%
AMT	D	-0.13%
CI	F	-0.13%
YUM	B	-0.13%
IRM	D	-0.12%
WELL	A	-0.12%
WBA	F	-0.12%
PNC	B	-0.12%
BRO	B	-0.12%
GDDY	A	-0.12%
PWR	A	-0.12%
SYY	B	-0.12%
PYPL	B	-0.12%
APH	A	-0.12%
CLX	B	-0.12%
GEN	B	-0.11%
CEG	D	-0.11%
KMI	A	-0.11%
TRGP	B	-0.11%
EXPD	D	-0.11%
USB	A	-0.11%
WTW	B	-0.11%
HPE	B	-0.11%
DASH	A	-0.11%
EFX	F	-0.11%
EXR	D	-0.11%
CSX	B	-0.11%
TSCO	D	-0.11%
APP	B	-0.11%
LDOS	C	-0.11%
ADP	B	-0.11%
FOXA	B	-0.11%
BDX	F	-0.11%
PHM	D	-0.1%
OKE	A	-0.1%
COIN	C	-0.1%
NTAP	C	-0.1%
HLT	A	-0.1%
PKG	A	-0.1%
WMB	A	-0.1%
DD	D	-0.1%
ITW	B	-0.1%
JKHY	D	-0.1%
RCL	A	-0.1%
DFS	B	-0.1%
XYL	D	-0.1%
SEIC	B	-0.09%
AIZ	A	-0.09%
TFC	A	-0.09%
DGX	A	-0.09%
CPRT	A	-0.09%
TAP	C	-0.09%
MLI	C	-0.09%
EMR	A	-0.09%
IEX	B	-0.09%
DG	F	-0.09%
ARES	A	-0.09%
IR	B	-0.09%
DLR	B	-0.09%
TROW	B	-0.09%
ADSK	A	-0.09%
IP	B	-0.09%
NVR	D	-0.09%
URI	B	-0.09%
AVY	D	-0.09%
PSA	D	-0.09%
SBUX	A	-0.09%
BKR	B	-0.08%
AEP	D	-0.08%
WDC	D	-0.08%
DKS	C	-0.08%
AOS	F	-0.08%
ECL	D	-0.08%
SRE	A	-0.08%
NUE	C	-0.08%
TYL	B	-0.08%
MTD	D	-0.08%
HLI	B	-0.08%
EQH	B	-0.08%
BIIB	F	-0.07%
ROL	B	-0.07%
GLPI	C	-0.07%
MSCI	C	-0.07%
EXC	C	-0.07%
LPLA	A	-0.07%
UFPI	B	-0.07%
JCI	C	-0.07%
CHD	B	-0.07%
CCI	D	-0.07%
COP	C	-0.07%
POOL	C	-0.07%
NSC	B	-0.07%
D	C	-0.07%
MLM	B	-0.07%
SKYW	B	-0.07%
GEHC	F	-0.07%
GEO	B	-0.07%
NRG	B	-0.07%
FTNT	C	-0.07%
BALL	D	-0.07%
KDP	D	-0.07%
STE	F	-0.07%
OTIS	C	-0.07%
TTWO	A	-0.07%
MNST	C	-0.07%
FIS	C	-0.07%
STZ	D	-0.06%
G	B	-0.06%
VIRT	B	-0.06%
TW	A	-0.06%
BFH	B	-0.06%
NKE	D	-0.06%
HIG	B	-0.06%
CPT	B	-0.06%
MPWR	F	-0.06%
CCK	C	-0.06%
UHS	D	-0.06%
FCNCA	A	-0.06%
PEG	A	-0.06%
MAS	D	-0.06%
SQ	B	-0.06%
L	A	-0.06%
DHI	D	-0.06%
TTC	D	-0.06%
FFIV	B	-0.06%
MSM	C	-0.06%
OMC	C	-0.06%
ROP	B	-0.06%
ALNY	D	-0.06%
LEN	D	-0.06%
FANG	D	-0.05%
ETR	B	-0.05%
URBN	C	-0.05%
SUI	D	-0.05%
A	D	-0.05%
WST	C	-0.05%
GNTX	C	-0.05%
NDAQ	A	-0.05%
CBRE	B	-0.05%
EXEL	B	-0.05%
CARR	D	-0.05%
SLGN	A	-0.05%
EIX	B	-0.05%
SCHW	B	-0.05%
ZTS	D	-0.05%
LAMR	D	-0.05%
IDXX	F	-0.05%
ANSS	B	-0.05%
ALLY	C	-0.05%
WAB	B	-0.05%
HSY	F	-0.05%
WAT	B	-0.05%
SMCI	F	-0.05%
BTU	B	-0.05%
ED	D	-0.05%
O	D	-0.05%
MKC	D	-0.05%
LANC	C	-0.04%
TKR	D	-0.04%
EQR	B	-0.04%
PPL	B	-0.04%
AMH	D	-0.04%
CXW	B	-0.04%
ESS	B	-0.04%
INVH	D	-0.04%
SMG	D	-0.04%
CTVA	C	-0.04%
PSTG	D	-0.04%
ADBE	C	-0.04%
ELS	C	-0.04%
MTB	A	-0.04%
ULTA	F	-0.04%
EMN	D	-0.04%
OLN	D	-0.04%
CFG	B	-0.04%
PAYX	C	-0.04%
CAG	D	-0.04%
CPNG	D	-0.04%
SANM	B	-0.04%
VTR	C	-0.04%
BLDR	D	-0.04%
FDS	B	-0.04%
NBIX	C	-0.04%
VRSN	F	-0.04%
BAX	D	-0.04%
NWSA	B	-0.04%
SJM	D	-0.04%
PTC	A	-0.04%
BHF	B	-0.04%
IPG	D	-0.04%
STLD	B	-0.04%
CPB	D	-0.04%
HUBG	A	-0.04%
HEI	B	-0.04%
VLTO	D	-0.04%
CNC	D	-0.04%
ZBRA	B	-0.04%
CRBG	B	-0.04%
FITB	A	-0.04%
EME	C	-0.04%
HOOD	B	-0.04%
RS	B	-0.04%
PPG	F	-0.04%
NDSN	B	-0.04%
ERIE	D	-0.04%
DOV	A	-0.04%
MAR	B	-0.04%
SBAC	D	-0.03%
DLTR	F	-0.03%
DRH	B	-0.03%
PNM	F	-0.03%
LZB	B	-0.03%
KEY	B	-0.03%
WPC	D	-0.03%
UNF	B	-0.03%
FNF	B	-0.03%
AMKR	D	-0.03%
DRI	B	-0.03%
BKE	B	-0.03%
FHI	A	-0.03%
MRO	B	-0.03%
AVTR	F	-0.03%
RPRX	D	-0.03%
BURL	A	-0.03%
NTRS	A	-0.03%
TER	D	-0.03%
DELL	C	-0.03%
UDR	B	-0.03%
CDW	F	-0.03%
CG	A	-0.03%
OI	C	-0.03%
APLE	B	-0.03%
IFF	D	-0.03%
ASO	F	-0.03%
JBL	B	-0.03%
AVB	B	-0.03%
DBRG	F	-0.03%
CMS	C	-0.03%
LW	C	-0.03%
HSIC	B	-0.03%
HOLX	D	-0.03%
FE	C	-0.03%
GMS	B	-0.03%
DDS	B	-0.03%
GGG	B	-0.03%
GNW	A	-0.03%
DOX	D	-0.03%
HBAN	A	-0.03%
HUBB	B	-0.03%
CPAY	A	-0.03%
MATX	C	-0.03%
ES	D	-0.03%
ACM	A	-0.03%
MANH	D	-0.03%
ODP	F	-0.02%
SAH	A	-0.02%
KEX	C	-0.02%
TTMI	B	-0.02%
VSH	D	-0.02%
SSNC	B	-0.02%
EVRG	A	-0.02%
LAUR	A	-0.02%
UAL	A	-0.02%
KIM	A	-0.02%
PHIN	A	-0.02%
ATO	A	-0.02%
BEN	C	-0.02%
RF	A	-0.02%
CSL	C	-0.02%
BXP	D	-0.02%
DOW	F	-0.02%
NSP	D	-0.02%
HP	B	-0.02%
ODFL	B	-0.02%
HST	C	-0.02%
DTE	C	-0.02%
PMT	D	-0.02%
HRL	D	-0.02%
OSIS	B	-0.02%
NAVI	C	-0.02%
PNR	A	-0.02%
MAA	B	-0.02%
LNT	A	-0.02%
JBLU	F	-0.02%
SKX	D	-0.02%
OC	A	-0.02%
RLJ	C	-0.02%
DORM	B	-0.02%
APOG	B	-0.02%
SAM	C	-0.02%
CTLT	B	-0.02%
NI	A	-0.02%
MKTX	D	-0.02%
CINF	A	-0.02%
NTCT	C	-0.02%
MCY	A	-0.02%
CE	F	-0.02%
PAG	B	-0.02%
HII	D	-0.02%
VSTO	A	-0.02%
CCL	B	-0.02%
AKAM	D	-0.02%
JBHT	C	-0.02%
ADNT	F	-0.02%
TFX	F	-0.02%
WRB	A	-0.02%
NEU	C	-0.02%
GHC	C	-0.02%
SVC	F	-0.01%
QRVO	F	-0.01%
KNX	B	-0.01%
UHAL	D	-0.01%
DINO	D	-0.01%
IGT	F	-0.01%
CACC	D	-0.01%
PARA	C	-0.01%
RVTY	F	-0.01%
ARI	C	-0.01%
WOR	F	-0.01%
CNXN	C	-0.01%
ACI	C	-0.01%
GIII	D	-0.01%
ALEX	C	-0.01%
UVV	B	-0.01%
HTH	B	-0.01%
SEB	F	-0.01%
IMKTA	C	-0.01%
PNW	B	-0.01%
SHO	C	-0.01%
CNS	B	-0.01%
KALU	C	-0.01%
CENTA	C	-0.01%
CVI	F	-0.01%
MOS	F	-0.01%
ARCH	B	-0.01%
PB	A	-0.01%
SAIC	F	-0.01%
FDP	B	-0.01%
PFG	D	-0.01%
WAFD	B	-0.01%
PPC	C	-0.01%
NNN	D	-0.01%
AES	F	-0.01%
DAN	D	-0.01%
WMK	C	-0.01%
KN	B	-0.01%
STRA	C	-0.01%
BBWI	D	-0.01%
LADR	B	-0.01%
INCY	C	-0.01%
NNI	D	-0.01%
GES	F	-0.01%
ESAB	B	-0.01%
BMRN	D	-0.01%
HE	C	-0.01%
ALGN	D	-0.01%
H	B	-0.01%
RBC	A	-0.01%
UHAL	D	-0.01%
SLB	C	-0.01%
GOLF	B	-0.01%
SCS	C	-0.01%
SCCO	F	-0.0%
NOMD	D	-0.0%
HUN	F	-0.0%