ESML vs. SMLV ETF Comparison

Comparison of iShares MSCI USA Small-Cap ESG Optimized ETF (ESML) to SPDR Russell 2000 Low Volatility (SMLV)

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

SMLV

SPDR Russell 2000 Low Volatility

SMLV Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index. The fund employs a sampling strategy, which means that the fund is not required to purchase all of the securities represented in the index. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index includes small cap U.S. equity securities, including business development companies, and is designed to deliver exposure to low volatility. It is non-diversified.

Grade (RS Rating)

Last Trade

$139.06

Average Daily Volume

5,752

Number of Holdings ^*

404

* may have additional holdings in another (foreign) market

Performance

Period	ESML	SMLV
30 Days	8.75%	11.47%
60 Days	8.59%	11.54%
90 Days	9.69%	11.93%
12 Months	34.45%	41.14%

162 Overlapping Holdings

Symbol	Grade	Weight in ESML	Weight in SMLV	Overlap
AAP	C	0.06%	0.02%	0.02%
ABM	B	0.09%	0.08%	0.08%
ACA	A	0.14%	0.13%	0.13%
ACIW	B	0.16%	0.1%	0.1%
ADMA	B	0.06%	0.13%	0.06%
ADUS	D	0.05%	0.09%	0.05%
AEIS	B	0.17%	0.05%	0.05%
AGIO	C	0.06%	0.06%	0.06%
AHH	D	0.04%	0.08%	0.04%
ALG	B	0.08%	0.09%	0.08%
ALKS	B	0.1%	0.05%	0.05%
ALRM	C	0.05%	0.04%	0.04%
AMED	F	0.09%	0.05%	0.05%
AMN	F	0.04%	0.02%	0.02%
AORT	B	0.05%	0.05%	0.05%
ARKO	C	0.05%	0.13%	0.05%
AROC	B	0.1%	0.11%	0.1%
ASGN	F	0.14%	0.05%	0.05%
ASH	D	0.04%	0.08%	0.04%
ATEN	B	0.06%	0.06%	0.06%
ATRC	C	0.07%	0.04%	0.04%
AVT	C	0.27%	0.08%	0.08%
AZTA	D	0.07%	0.02%	0.02%
AZZ	B	0.07%	0.07%	0.07%
BHE	B	0.16%	0.11%	0.11%
BL	B	0.08%	0.05%	0.05%
BLKB	B	0.12%	0.09%	0.09%
BMI	B	0.3%	0.13%	0.13%
BNL	D	0.05%	0.12%	0.05%
BOX	B	0.13%	0.07%	0.07%
BRC	D	0.09%	0.14%	0.09%
CABO	C	0.13%	0.06%	0.06%
CAC	B	0.1%	0.44%	0.1%
CALM	A	0.06%	0.15%	0.06%
CBU	B	0.06%	1.65%	0.06%
CBZ	B	0.06%	0.12%	0.06%
CCOI	B	0.1%	0.09%	0.09%
CMCO	B	0.06%	0.06%	0.06%
CNMD	C	0.05%	0.04%	0.04%
CNO	A	0.2%	1.14%	0.2%
CNXC	F	0.03%	0.03%	0.03%
COLM	B	0.07%	0.12%	0.07%
CPK	A	0.13%	0.2%	0.13%
CRC	B	0.1%	0.09%	0.09%
CRI	D	0.04%	0.05%	0.04%
CSGS	B	0.11%	0.12%	0.11%
CTS	C	0.07%	0.07%	0.07%
CUZ	B	0.21%	0.1%	0.1%
CVLT	B	0.22%	0.14%	0.14%
DEA	D	0.07%	0.16%	0.07%
DEI	B	0.02%	0.1%	0.02%
DK	C	0.04%	0.05%	0.04%
EFSC	B	0.11%	1.08%	0.11%
ENV	B	0.06%	0.06%	0.06%
EPAC	B	0.13%	0.08%	0.08%
ESE	B	0.09%	0.12%	0.09%
EXPO	D	0.06%	0.12%	0.06%
FELE	B	0.22%	0.14%	0.14%
FFIN	B	0.06%	1.19%	0.06%
FLO	D	0.04%	0.26%	0.04%
FORM	D	0.04%	0.04%	0.04%
FSS	B	0.15%	0.11%	0.11%
FTDR	A	0.22%	0.12%	0.12%
FUL	F	0.1%	0.06%	0.06%
FULT	A	0.12%	0.98%	0.12%
GATX	A	0.17%	0.13%	0.13%
GBCI	B	0.3%	1.02%	0.3%
GEF	A	0.05%	0.12%	0.05%
GEF	A	0.05%	0.12%	0.05%
GKOS	B	0.18%	0.05%	0.05%
GPI	A	0.19%	0.07%	0.07%
HAE	C	0.12%	0.06%	0.06%
HCC	B	0.05%	0.11%	0.05%
HELE	C	0.06%	0.03%	0.03%
HI	C	0.07%	0.03%	0.03%
HIW	D	0.13%	0.1%	0.1%
HNI	B	0.15%	0.11%	0.11%
HURN	B	0.06%	0.08%	0.06%
HWKN	B	0.07%	0.12%	0.07%
IART	C	0.05%	0.04%	0.04%
IBOC	A	0.06%	1.07%	0.06%
ICFI	F	0.08%	0.14%	0.08%
ICUI	D	0.08%	0.09%	0.08%
INSM	C	0.21%	0.08%	0.08%
IOSP	B	0.08%	0.08%	0.08%
IRDM	D	0.12%	0.05%	0.05%
ITGR	B	0.13%	0.07%	0.07%
JBGS	D	0.05%	0.08%	0.05%
JBT	B	0.08%	0.07%	0.07%
KREF	D	0.06%	0.11%	0.06%
LEG	F	0.05%	0.03%	0.03%
LIVN	F	0.05%	0.05%	0.05%
LNN	B	0.08%	0.1%	0.08%
LOPE	B	0.05%	0.08%	0.05%
LXP	D	0.06%	0.13%	0.06%
MEI	D	0.04%	0.05%	0.04%
MGRC	B	0.09%	1.02%	0.09%
MMSI	B	0.15%	0.06%	0.06%
MNRO	D	0.05%	0.06%	0.05%
MOG.A	B	0.24%	0.1%	0.1%
MRCY	B	0.11%	0.08%	0.08%
MTRN	C	0.06%	0.05%	0.05%
MTX	B	0.12%	0.08%	0.08%
MWA	B	0.25%	0.12%	0.12%
MYRG	B	0.16%	0.06%	0.06%
NARI	C	0.06%	0.04%	0.04%
NBHC	B	0.05%	1.15%	0.05%
NBTB	B	0.06%	1.37%	0.06%
NCNO	B	0.05%	0.1%	0.05%
NEOG	F	0.04%	0.04%	0.04%
NFG	A	0.2%	0.48%	0.2%
NVST	B	0.06%	0.05%	0.05%
NWN	A	0.07%	0.19%	0.07%
OGN	D	0.09%	0.03%	0.03%
OMCL	C	0.05%	0.08%	0.05%
ONB	B	0.19%	1.44%	0.19%
PAHC	C	0.06%	0.1%	0.06%
PCH	D	0.17%	0.08%	0.08%
PDCO	D	0.13%	0.04%	0.04%
PECO	A	0.07%	0.2%	0.07%
PINC	B	0.14%	0.12%	0.12%
PJT	A	0.1%	1.89%	0.1%
PLOW	D	0.05%	0.07%	0.05%
PLUS	F	0.06%	0.06%	0.06%
PLXS	B	0.17%	0.14%	0.14%
POWI	D	0.06%	0.05%	0.05%
PRGO	B	0.07%	0.06%	0.06%
PRGS	A	0.24%	0.11%	0.11%
PRIM	A	0.14%	0.11%	0.11%
PSMT	C	0.05%	0.08%	0.05%
PTCT	B	0.06%	0.04%	0.04%
RARE	D	0.07%	0.03%	0.03%
RDN	C	0.09%	0.82%	0.09%
RDNT	B	0.1%	0.06%	0.06%
RUSHA	C	0.05%	0.11%	0.05%
SASR	B	0.08%	1.09%	0.08%
SATS	D	0.06%	0.06%	0.06%
SCL	C	0.1%	0.11%	0.1%
SEM	B	0.07%	0.06%	0.06%
SHOO	D	0.11%	0.06%	0.06%
SMP	B	0.05%	0.12%	0.05%
SNDR	B	0.19%	0.13%	0.13%
SPB	C	0.08%	0.05%	0.05%
SR	A	0.14%	0.19%	0.14%
SXT	B	0.07%	0.16%	0.07%
TGNA	B	0.2%	0.13%	0.13%
THG	A	0.18%	1.63%	0.18%
THRM	D	0.05%	0.04%	0.04%
TNC	D	0.05%	0.07%	0.05%
TPH	D	0.14%	0.05%	0.05%
UFPT	B	0.05%	0.11%	0.05%
VECO	F	0.1%	0.03%	0.03%
VMI	B	0.13%	0.13%	0.13%
VREX	C	0.06%	0.03%	0.03%
VRNT	C	0.06%	0.04%	0.04%
WDFC	B	0.11%	0.1%	0.1%
WEN	D	0.09%	0.1%	0.09%
WERN	C	0.12%	0.14%	0.12%
WK	B	0.2%	0.05%	0.05%
WT	B	0.06%	0.15%	0.06%
WU	D	0.07%	0.71%	0.07%
ZD	C	0.08%	0.05%	0.05%

ESML Overweight 742 Positions Relative to SMLV

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%
BWXT	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%
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%
WEX	D	0.25%
UNM	A	0.25%
DCI	B	0.25%
AAON	B	0.25%
RRC	B	0.25%
BJ	A	0.25%
WCC	B	0.24%
FTAI	B	0.24%
UGI	A	0.24%
RNR	C	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%
CNM	D	0.22%
LAD	A	0.22%
GNRC	B	0.22%
WAL	B	0.22%
CMC	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%
PCVX	D	0.21%
ONTO	D	0.21%
LSTR	D	0.21%
RHI	B	0.21%
GME	C	0.21%
NJR	A	0.21%
ITRI	B	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%
MTN	C	0.2%
CUBE	D	0.2%
OMF	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%
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%
AXS	A	0.19%
HRB	D	0.19%
LNW	D	0.19%
OHI	C	0.19%
DAR	C	0.19%
FRPT	B	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%
SRPT	D	0.18%
NYT	C	0.18%
BWA	D	0.18%
SPXC	A	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%
LAZ	B	0.17%
CHX	C	0.17%
BERY	B	0.17%
FN	D	0.17%
TMHC	B	0.17%
PCOR	B	0.17%
PEN	B	0.17%
ESTC	C	0.17%
ASB	B	0.17%
VVV	F	0.17%
LPX	B	0.17%
UBSI	B	0.17%
MSA	D	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%
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%
SLM	A	0.16%
BCC	B	0.16%
JAZZ	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%
MEDP	D	0.15%
CRUS	D	0.15%
CROX	D	0.15%
CPF	A	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%
ITCI	C	0.15%
MOD	A	0.15%
WFRD	D	0.15%
GTLB	B	0.15%
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%
RYAN	B	0.14%
SMAR	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%
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%
CAVA	B	0.13%
AIT	A	0.13%
MAT	D	0.13%
STRL	B	0.13%
CBT	C	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%
CYTK	F	0.13%
AZEK	A	0.13%
MUR	D	0.13%
NPO	A	0.13%
WTM	A	0.13%
BCPC	B	0.13%
ELF	C	0.13%
COLB	A	0.13%
AGCO	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%
QTWO	A	0.12%
KOS	F	0.12%
RKLB	B	0.12%
WGO	C	0.12%
WHD	B	0.12%
S	B	0.12%
GL	B	0.12%
ABG	B	0.12%
CRDO	B	0.12%
THO	B	0.12%
ADT	C	0.12%
GAP	C	0.12%
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%
XENE	D	0.11%
CRNX	C	0.11%
APPF	B	0.11%
ECPG	B	0.11%
SON	D	0.11%
ADC	B	0.11%
HALO	F	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%
RVMD	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%
STWD	C	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	D	0.1%
FLR	B	0.1%
TRNO	F	0.1%
AL	B	0.1%
RDUS	C	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%
RNA	D	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%
POST	C	0.09%
SHAK	C	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%
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%
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%
OLED	D	0.08%
KTOS	B	0.08%
KOP	C	0.08%
AUR	C	0.08%
EWTX	C	0.08%
BPMC	C	0.08%
IESC	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%
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%
TARS	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%
STC	B	0.08%
MAC	B	0.08%
PRCT	B	0.08%
DOCS	C	0.08%
GVA	A	0.08%
PLMR	B	0.08%
MIR	A	0.08%
RNST	B	0.08%
AAT	B	0.07%
SKT	B	0.07%
EE	A	0.07%
GBX	A	0.07%
LBRDK	C	0.07%
UEC	B	0.07%
CWEN	C	0.07%
GT	C	0.07%
HGV	B	0.07%
ESRT	C	0.07%
SEE	C	0.07%
HAFC	A	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%
ZYME	C	0.07%
ROG	D	0.07%
ALHC	C	0.07%
HIMS	B	0.07%
MHK	D	0.07%
GH	B	0.07%
BROS	B	0.07%
XHR	B	0.07%
FIVN	C	0.07%
VCTR	B	0.07%
HBI	B	0.07%
BC	C	0.07%
WTFC	A	0.07%
WRBY	B	0.07%
AN	C	0.07%
PI	D	0.07%
CCCS	B	0.07%
OUT	A	0.07%
PAR	B	0.07%
UNFI	A	0.07%
ATGE	B	0.06%
VRRM	D	0.06%
CAR	C	0.06%
FNA	C	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%
PBF	D	0.06%
W	F	0.06%
MBUU	C	0.06%
PLAY	D	0.06%
AXSM	B	0.06%
MOV	C	0.06%
NRIX	D	0.06%
COKE	C	0.06%
JWN	C	0.06%
CHH	A	0.06%
TGTX	B	0.06%
CWAN	B	0.06%
TDOC	C	0.06%
EXP	A	0.06%
CLH	B	0.06%
ROCK	C	0.06%
PNTG	D	0.06%
AIR	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%
FL	F	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%
CART	C	0.06%
BOOT	D	0.06%
SMTC	B	0.06%
OWL	A	0.06%
PPBI	B	0.06%
ACVA	B	0.06%
SM	B	0.06%
RCM	F	0.06%
ROIV	C	0.06%
FLYW	C	0.06%
APG	B	0.06%
IDYA	F	0.06%
EYE	C	0.06%
PK	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%
BKU	A	0.06%
AVDX	B	0.06%
VNOM	A	0.06%
FRSH	C	0.06%
KE	C	0.06%
FUN	C	0.06%
VRNS	D	0.06%
CLF	F	0.06%
MRUS	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%
WD	D	0.06%
RH	B	0.06%
VVI	C	0.06%
COMP	B	0.06%
OII	B	0.06%
PAYO	A	0.06%
BANC	A	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%
AXL	C	0.05%
ARVN	D	0.05%
PBI	B	0.05%
NUVB	C	0.05%
ZEUS	C	0.05%
ETNB	C	0.05%
HLX	B	0.05%
RYN	D	0.05%
IONS	F	0.05%
DOCN	D	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%
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%
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%
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%
SPR	D	0.05%
WKC	D	0.05%
VITL	D	0.05%
LCID	F	0.05%
ELVN	D	0.05%
CWEN	C	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%
SLVM	B	0.05%
XPRO	F	0.05%
RAMP	C	0.05%
ZUO	B	0.05%
VYX	B	0.05%
MMI	B	0.05%
BGC	C	0.05%
JANX	C	0.05%
PDFS	C	0.05%
CSTL	D	0.05%
CC	C	0.05%
MHO	D	0.05%
PRG	C	0.05%
FFBC	A	0.05%
TMDX	F	0.05%
SKY	A	0.05%
BE	B	0.05%
SMPL	B	0.05%
SBH	C	0.05%
KMPR	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%
RNG	B	0.05%
DNOW	B	0.05%
HLIT	D	0.05%
ARQT	C	0.05%
NUVL	D	0.05%
YELP	C	0.05%
UAA	C	0.05%
MXL	C	0.05%
COOP	B	0.05%
COLD	D	0.05%
CALX	D	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%
OMI	F	0.04%
FOXF	F	0.04%
CLW	F	0.04%
HPP	F	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%
XRX	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%
MLKN	D	0.04%
IMVT	F	0.04%
RCUS	F	0.04%
NABL	F	0.04%
MTUS	C	0.04%
MMS	F	0.04%
OSCR	D	0.04%
AMC	C	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%
PTEN	C	0.04%
NVCR	C	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%
KRYS	B	0.04%
RXRX	F	0.04%
GRBK	D	0.04%
TROX	D	0.04%
COGT	D	0.04%
RKT	F	0.04%
EPC	D	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	D	0.03%
PHAT	F	0.03%
CRMT	C	0.03%
APLS	D	0.03%
CCRN	F	0.03%
CPRI	F	0.03%
MYGN	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%
SEDG	F	0.02%
ASPN	F	0.02%
GDOT	D	0.01%
MAGN	F	0.01%

ESML Underweight 243 Positions Relative to SMLV

Symbol	Grade	Weight
NNI	D	-1.56%
VIRT	B	-1.49%
PRK	B	-1.42%
CHCO	B	-1.25%
NWBI	B	-1.17%
SYBT	B	-1.13%
ESGR	B	-1.12%
HMN	B	-1.08%
TOWN	B	-1.06%
FCF	A	-1.02%
GCMG	B	-1.01%
TRMK	B	-1.0%
QCRH	A	-0.97%
NIC	B	-0.96%
BUSE	B	-0.96%
WABC	B	-0.95%
HOMB	A	-0.93%
WAFD	B	-0.93%
STBA	B	-0.91%
WSBC	A	-0.89%
EIG	B	-0.86%
SFNC	B	-0.85%
GABC	B	-0.84%
BLX	C	-0.84%
AGM	C	-0.83%
LKFN	B	-0.81%
SAFT	C	-0.79%
PEBO	A	-0.77%
SRCE	B	-0.76%
AMSF	B	-0.73%
BRKL	B	-0.72%
FBMS	B	-0.68%
CTBI	B	-0.68%
SBSI	B	-0.67%
OBK	B	-0.65%
EVTC	B	-0.65%
EQC	B	-0.64%
TMP	B	-0.63%
PAX	B	-0.61%
OKLO	B	-0.61%
BFC	B	-0.6%
HFWA	B	-0.59%
UVSP	B	-0.59%
FMBH	B	-0.57%
CFFN	B	-0.56%
BHRB	B	-0.56%
FCBC	B	-0.48%
TRST	A	-0.44%
MCBS	B	-0.4%
TRIN	A	-0.4%
AGX	B	-0.38%
AROW	B	-0.37%
GSBC	B	-0.37%
CCNE	B	-0.37%
FMNB	B	-0.36%
THFF	B	-0.36%
NFBK	B	-0.35%
HTBI	B	-0.35%
ESQ	A	-0.34%
HONE	B	-0.34%
BHB	B	-0.34%
CCBG	B	-0.33%
SMBK	B	-0.33%
MPB	B	-0.31%
KRNY	B	-0.31%
SPFI	B	-0.3%
DHIL	A	-0.3%
HIFS	B	-0.29%
BSRR	B	-0.28%
ORRF	B	-0.27%
FMAO	B	-0.27%
ALRS	D	-0.27%
IDA	A	-0.26%
EBF	F	-0.25%
ACNB	B	-0.25%
FBIZ	B	-0.25%
FSBC	B	-0.24%
GLRE	B	-0.24%
HBCP	B	-0.23%
EBTC	B	-0.23%
WTBA	B	-0.23%
PFIS	A	-0.23%
PNM	F	-0.23%
MGEE	C	-0.23%
NWE	B	-0.22%
BWB	B	-0.21%
BKH	A	-0.21%
NHC	C	-0.21%
CZNC	B	-0.2%
FSBW	B	-0.2%
SLGN	A	-0.2%
ARTNA	D	-0.19%
SBR	B	-0.19%
CSWI	A	-0.19%
GNTY	A	-0.19%
FLIC	B	-0.19%
FNLC	B	-0.18%
FRST	B	-0.17%
GTY	B	-0.17%
VLGEA	B	-0.17%
NPK	B	-0.17%
PSTL	D	-0.16%
CBNK	B	-0.16%
WSBF	C	-0.16%
JJSF	B	-0.15%
PBH	A	-0.15%
CTO	B	-0.15%
GPOR	B	-0.15%
CMPO	A	-0.15%
TRS	B	-0.14%
ROAD	A	-0.14%
HSTM	B	-0.14%
HTLD	B	-0.14%
TRC	F	-0.14%
GOOD	B	-0.13%
GENC	B	-0.13%
BCAL	B	-0.13%
UNF	B	-0.13%
CSR	B	-0.13%
LTC	B	-0.13%
ELME	D	-0.13%
NHI	D	-0.12%
FCPT	C	-0.12%
HCKT	B	-0.12%
UTMD	F	-0.12%
PKE	B	-0.12%
LMAT	A	-0.11%
MRTN	C	-0.11%
RNGR	B	-0.11%
UHT	D	-0.11%
OSIS	B	-0.11%
SXC	A	-0.11%
GHC	C	-0.11%
GRC	A	-0.11%
NTST	D	-0.11%
MLR	B	-0.11%
CTRE	D	-0.11%
DORM	B	-0.11%
CASS	B	-0.1%
MSGS	A	-0.1%
IRT	A	-0.1%
KW	B	-0.1%
INVA	D	-0.1%
HSII	B	-0.1%
NTCT	C	-0.1%
HUBG	A	-0.1%
NOMD	D	-0.09%
GLDD	B	-0.09%
SXI	B	-0.09%
BBSI	B	-0.09%
WINA	B	-0.09%
APOG	B	-0.09%
DNB	B	-0.09%
KAI	A	-0.09%
CHCT	C	-0.09%
RDWR	B	-0.09%
BFS	C	-0.09%
JBSS	D	-0.09%
AFCG	D	-0.09%
APLE	B	-0.08%
LZB	B	-0.08%
TTMI	B	-0.08%
CORT	B	-0.08%
RLGT	A	-0.08%
GMRE	F	-0.08%
RGP	F	-0.08%
PRDO	B	-0.08%
FPI	B	-0.08%
PBT	C	-0.08%
VIAV	B	-0.07%
KN	B	-0.07%
ENS	D	-0.07%
CNNE	B	-0.07%
SPOK	C	-0.07%
MGIC	F	-0.07%
KFRC	D	-0.07%
SANM	B	-0.07%
TRNS	D	-0.07%
SUPN	C	-0.07%
WEYS	C	-0.07%
LAUR	A	-0.07%
IRMD	C	-0.06%
ECVT	C	-0.06%
SFL	D	-0.06%
GPRK	C	-0.06%
FSTR	B	-0.06%
OFIX	B	-0.06%
ITRN	B	-0.06%
FORR	D	-0.06%
CENT	C	-0.06%
IBEX	B	-0.06%
CXT	B	-0.06%
ARCH	B	-0.06%
CVCO	A	-0.06%
RGR	F	-0.06%
CSV	B	-0.06%
LGTY	D	-0.06%
VAL	D	-0.06%
ATEX	D	-0.05%
VSH	D	-0.05%
JOUT	D	-0.05%
TTGT	C	-0.05%
ETD	C	-0.05%
XNCR	B	-0.05%
MATW	C	-0.05%
NATR	C	-0.05%
HUN	F	-0.05%
ATNI	F	-0.05%
NVEC	C	-0.05%
MLAB	D	-0.05%
AIN	C	-0.05%
AVNS	F	-0.05%
LILAK	D	-0.05%
SPNS	F	-0.05%
SCSC	B	-0.05%
CEVA	B	-0.05%
STRA	C	-0.05%
ZIP	F	-0.04%
SHEN	F	-0.04%
TBPH	C	-0.04%
ANIP	F	-0.04%
KIDS	D	-0.04%
HRMY	D	-0.04%
USPH	B	-0.04%
IPGP	D	-0.04%
BOWL	C	-0.04%
SRDX	B	-0.04%
USNA	C	-0.04%
AMPH	D	-0.04%
PZZA	D	-0.04%
VPG	D	-0.04%
IRWD	F	-0.03%
ANIK	F	-0.03%
CBRL	C	-0.03%
JBI	F	-0.03%
PCRX	C	-0.03%
HLF	C	-0.03%
OXM	D	-0.03%
NRC	F	-0.03%
ARCO	F	-0.03%
SCHL	D	-0.03%
ACAD	D	-0.02%
IMTX	F	-0.02%