FAB vs. FSMD ETF Comparison

Comparison of First Trust Multi Cap Value AlphaDEX Fund (FAB) to Fidelity Small-Mid Factor ETF (FSMD)

FAB

First Trust Multi Cap Value AlphaDEX Fund

FAB Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Multi Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P Composite 1500(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$77.64

Average Daily Volume

5,236

Number of Holdings ^*

657

* may have additional holdings in another (foreign) market

FSMD

Fidelity Small-Mid Factor ETF

FSMD Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Small-Mid Factor Index℠. The fund normally invests at least 80% of its assets in securities included in the Fidelity Small-Mid Factor Index℠, which is designed to reflect the performance of stocks of small- and mid-capitalization U.S. companies with attractive valuations, high quality profiles, positive momentum signals, and lower volatility than the broader market, as represented by the Fidelity U.S. Extended Investable Market Index℠.

Grade (RS Rating)

Last Trade

$37.22

Average Daily Volume

58,012

Number of Holdings ^*

570

* may have additional holdings in another (foreign) market

Performance

Period	FAB	FSMD
30 Days	-2.16%	-1.67%
60 Days	-2.77%	-1.62%
90 Days	-3.67%	-1.78%
12 Months	13.34%	15.06%

216 Overlapping Holdings

Symbol	Grade	Weight in FAB	Weight in FSMD	Overlap
ABG	D	0.22%	0.17%	0.17%
ADUS	B	0.03%	0.15%	0.03%
AEO	F	0.04%	0.15%	0.04%
AFG	D	0.04%	0.24%	0.04%
AGCO	F	0.19%	0.17%	0.17%
AIZ	D	0.04%	0.24%	0.04%
ALE	C	0.2%	0.15%	0.15%
ALLY	B	0.18%	0.29%	0.18%
AMG	D	0.17%	0.19%	0.17%
AMKR	B	0.17%	0.16%	0.16%
AMN	F	0.09%	0.09%	0.09%
AN	D	0.18%	0.17%	0.17%
ANDE	D	0.07%	0.1%	0.07%
APAM	D	0.02%	0.14%	0.02%
ARCB	D	0.02%	0.11%	0.02%
ARCH	C	0.13%	0.11%	0.11%
ARW	D	0.22%	0.19%	0.19%
ASGN	D	0.08%	0.15%	0.08%
ASO	F	0.15%	0.14%	0.14%
ATKR	F	0.1%	0.16%	0.1%
AVA	D	0.13%	0.13%	0.13%
AVT	D	0.24%	0.17%	0.17%
AX	B	0.11%	0.15%	0.11%
AXS	C	0.1%	0.21%	0.1%
AYI	D	0.04%	0.21%	0.04%
BC	F	0.07%	0.16%	0.07%
BCC	F	0.11%	0.15%	0.11%
BDC	C	0.05%	0.16%	0.05%
BERY	D	0.18%	0.18%	0.18%
BKE	D	0.07%	0.1%	0.07%
BKH	D	0.19%	0.15%	0.15%
BNL	B	0.11%	0.14%	0.11%
BPOP	D	0.09%	0.21%	0.09%
BTU	C	0.21%	0.12%	0.12%
BWA	F	0.17%	0.21%	0.17%
BXMT	C	0.08%	0.14%	0.08%
BXP	C	0.04%	0.24%	0.04%
BYD	C	0.15%	0.14%	0.14%
BZH	F	0.11%	0.09%	0.09%
CACC	B	0.09%	0.14%	0.09%
CACI	B	0.05%	0.26%	0.05%
CALM	B	0.14%	0.13%	0.13%
CASH	B	0.12%	0.13%	0.12%
CATY	D	0.11%	0.13%	0.11%
CCK	F	0.05%	0.22%	0.05%
CCS	D	0.09%	0.12%	0.09%
CENTA	D	0.07%	0.12%	0.07%
CHK	D	0.22%	0.27%	0.22%
CHRD	C	0.22%	0.23%	0.22%
CMC	D	0.21%	0.19%	0.19%
CNO	B	0.11%	0.15%	0.11%
CNX	C	0.14%	0.19%	0.14%
CNXN	D	0.05%	0.08%	0.05%
COLB	D	0.18%	0.17%	0.17%
COOP	D	0.2%	0.21%	0.2%
CPB	B	0.19%	0.24%	0.19%
CRBG	C	0.19%	0.24%	0.19%
CRC	C	0.13%	0.17%	0.13%
CRI	F	0.04%	0.11%	0.04%
CRUS	A	0.06%	0.24%	0.06%
CUBI	B	0.1%	0.11%	0.1%
CUZ	D	0.13%	0.15%	0.13%
CVCO	D	0.02%	0.14%	0.02%
CVI	F	0.14%	0.09%	0.09%
CWEN	D	0.06%	0.13%	0.06%
CXW	D	0.08%	0.09%	0.08%
DDS	D	0.13%	0.12%	0.12%
DEA	B	0.06%	0.11%	0.06%
DEI	D	0.05%	0.12%	0.05%
DINO	D	0.2%	0.24%	0.2%
DIOD	C	0.11%	0.13%	0.11%
DKS	C	0.05%	0.36%	0.05%
DORM	C	0.02%	0.14%	0.02%
DTM	B	0.16%	0.25%	0.16%
DXC	C	0.12%	0.13%	0.12%
EHC	B	0.05%	0.26%	0.05%
EMN	D	0.14%	0.28%	0.14%
ENS	C	0.15%	0.15%	0.15%
ENVA	B	0.1%	0.14%	0.1%
EQC	C	0.08%	0.13%	0.08%
ESGR	A	0.23%	0.17%	0.17%
ESNT	C	0.22%	0.2%	0.2%
EVRG	D	0.19%	0.3%	0.19%
EWBC	D	0.08%	0.28%	0.08%
FBP	B	0.06%	0.16%	0.06%
FCF	B	0.11%	0.12%	0.11%
FNB	C	0.13%	0.18%	0.13%
FOXA	B	0.21%	0.32%	0.21%
FUL	D	0.04%	0.14%	0.04%
FULT	D	0.11%	0.15%	0.11%
GEF	F	0.12%	0.09%	0.09%
GEO	B	0.1%	0.13%	0.1%
GHC	D	0.12%	0.13%	0.12%
GL	D	0.03%	0.19%	0.03%
GMED	B	0.06%	0.26%	0.06%
GMS	D	0.12%	0.13%	0.12%
GNW	D	0.03%	0.14%	0.03%
GPI	D	0.24%	0.17%	0.17%
HE	F	0.11%	0.07%	0.07%
HELE	F	0.07%	0.11%	0.07%
HII	D	0.08%	0.24%	0.08%
HIW	C	0.13%	0.14%	0.13%
HNI	C	0.03%	0.12%	0.03%
HOG	F	0.14%	0.16%	0.14%
HRL	F	0.16%	0.24%	0.16%
HSIC	D	0.04%	0.22%	0.04%
HUBG	C	0.11%	0.12%	0.11%
IART	C	0.02%	0.1%	0.02%
IBOC	C	0.11%	0.15%	0.11%
IDA	D	0.09%	0.16%	0.09%
IMKTA	F	0.12%	0.08%	0.08%
INCY	D	0.3%	0.29%	0.29%
INVA	B	0.14%	0.11%	0.11%
IP	C	0.1%	0.35%	0.1%
JAZZ	F	0.12%	0.2%	0.12%
JLL	B	0.05%	0.26%	0.05%
JXN	C	0.21%	0.23%	0.21%
KBH	D	0.23%	0.19%	0.19%
KFRC	D	0.02%	0.09%	0.02%
KNX	C	0.12%	0.21%	0.12%
KRC	F	0.16%	0.13%	0.13%
LAD	F	0.2%	0.19%	0.19%
LBRDK	C	0.17%	0.19%	0.17%
LEA	F	0.15%	0.19%	0.15%
LFUS	C	0.1%	0.19%	0.1%
LSTR	D	0.04%	0.19%	0.04%
LZB	C	0.13%	0.12%	0.12%
MATX	B	0.27%	0.17%	0.17%
MGY	B	0.18%	0.21%	0.18%
MHO	D	0.21%	0.14%	0.14%
MLI	C	0.2%	0.2%	0.2%
MMS	B	0.05%	0.17%	0.05%
MOS	F	0.21%	0.23%	0.21%
MPW	F	0.03%	0.15%	0.03%
MTG	B	0.22%	0.2%	0.2%
MTH	D	0.22%	0.2%	0.2%
MTX	C	0.06%	0.13%	0.06%
MUR	D	0.21%	0.21%	0.21%
NAVI	F	0.09%	0.1%	0.09%
NEOG	C	0.05%	0.15%	0.05%
NFG	D	0.24%	0.18%	0.18%
NHC	A	0.09%	0.13%	0.09%
NI	B	0.15%	0.3%	0.15%
NMIH	B	0.14%	0.15%	0.14%
NXST	B	0.13%	0.18%	0.13%
NYCB	D	0.04%	0.09%	0.04%
OEC	F	0.07%	0.09%	0.07%
OFG	B	0.08%	0.12%	0.08%
OGE	C	0.19%	0.21%	0.19%
OGS	C	0.18%	0.14%	0.14%
OMCL	F	0.05%	0.1%	0.05%
OMF	D	0.13%	0.19%	0.13%
ORI	D	0.09%	0.24%	0.09%
OSK	D	0.12%	0.2%	0.12%
OZK	D	0.16%	0.16%	0.16%
PAG	D	0.13%	0.13%	0.13%
PARR	F	0.09%	0.09%	0.09%
PATK	D	0.05%	0.13%	0.05%
PBF	F	0.18%	0.18%	0.18%
PEBO	D	0.11%	0.11%	0.11%
PFBC	D	0.08%	0.12%	0.08%
PHIN	D	0.14%	0.14%	0.14%
PINC	F	0.11%	0.12%	0.11%
PLUS	D	0.05%	0.1%	0.05%
PLXS	D	0.06%	0.13%	0.06%
PNW	C	0.14%	0.24%	0.14%
POR	D	0.19%	0.16%	0.16%
PRDO	C	0.16%	0.13%	0.13%
RDN	B	0.22%	0.18%	0.18%
RGA	C	0.05%	0.35%	0.05%
RHI	F	0.04%	0.18%	0.04%
RNR	D	0.22%	0.3%	0.22%
RUSHA	F	0.15%	0.11%	0.11%
SAIC	D	0.08%	0.18%	0.08%
SANM	C	0.2%	0.15%	0.15%
SCHL	D	0.13%	0.1%	0.1%
SEIC	D	0.08%	0.2%	0.08%
SF	B	0.05%	0.26%	0.05%
SHOO	C	0.03%	0.14%	0.03%
SIGI	F	0.04%	0.19%	0.04%
SKX	C	0.11%	0.26%	0.11%
SKY	F	0.04%	0.15%	0.04%
SLVM	D	0.12%	0.14%	0.12%
SNEX	B	0.08%	0.14%	0.08%
SNX	D	0.14%	0.2%	0.14%
SON	F	0.17%	0.15%	0.15%
SRCE	B	0.08%	0.11%	0.08%
STRA	C	0.03%	0.14%	0.03%
SUM	D	0.04%	0.14%	0.04%
TAP	F	0.14%	0.23%	0.14%
TEX	D	0.15%	0.13%	0.13%
TFX	C	0.04%	0.25%	0.04%
TGNA	D	0.12%	0.13%	0.12%
THO	D	0.07%	0.16%	0.07%
TMHC	D	0.21%	0.2%	0.2%
TPH	D	0.18%	0.16%	0.16%
UFPI	D	0.12%	0.2%	0.12%
UHS	C	0.15%	0.3%	0.15%
UMBF	C	0.09%	0.16%	0.09%
UNM	D	0.18%	0.26%	0.18%
URBN	C	0.18%	0.13%	0.13%
USM	B	0.21%	0.13%	0.13%
UTHR	B	0.26%	0.4%	0.26%
UVV	D	0.12%	0.09%	0.09%
VCTR	D	0.06%	0.16%	0.06%
VLY	F	0.16%	0.12%	0.12%
VNO	C	0.04%	0.15%	0.04%
VSH	D	0.13%	0.12%	0.12%
WBS	D	0.11%	0.22%	0.11%
WGO	F	0.06%	0.1%	0.06%
WLK	D	0.18%	0.15%	0.15%
WOR	F	0.06%	0.1%	0.06%
WTFC	D	0.13%	0.2%	0.13%
WU	D	0.12%	0.17%	0.12%
ZD	F	0.05%	0.12%	0.05%
ZION	C	0.14%	0.21%	0.14%

FAB Overweight 441 Positions Relative to FSMD

Symbol	Grade	Weight
HPE	C	0.56%
ACGL	C	0.52%
T	B	0.51%
LNG	B	0.51%
BG	B	0.5%
OC	D	0.49%
MKL	D	0.49%
GM	B	0.48%
FANG	B	0.48%
EQT	D	0.48%
UAL	D	0.48%
MRO	B	0.48%
ETR	D	0.48%
ED	D	0.47%
XOM	D	0.47%
CVX	D	0.47%
CTRA	D	0.46%
OXY	D	0.46%
ADM	C	0.46%
BRK.A	C	0.46%
EOG	D	0.46%
CINF	C	0.45%
EG	D	0.45%
F	B	0.44%
DVN	D	0.44%
COP	D	0.43%
CF	F	0.43%
VLO	D	0.43%
PEG	B	0.42%
CMCSA	F	0.42%
PSX	D	0.41%
DHI	D	0.41%
MPC	D	0.41%
KMI	B	0.41%
APTV	F	0.41%
LEN	D	0.41%
PCG	D	0.4%
STLD	D	0.4%
SRE	B	0.4%
MTB	C	0.39%
TEL	B	0.39%
SYF	B	0.39%
WFC	C	0.38%
DTE	D	0.38%
XEL	D	0.38%
EBAY	B	0.38%
CB	C	0.38%
L	D	0.37%
VZ	B	0.37%
C	B	0.37%
KIM	B	0.37%
SWKS	C	0.37%
NUE	F	0.37%
WPC	D	0.37%
LYB	D	0.36%
CFG	B	0.36%
CAG	D	0.36%
AIG	D	0.36%
AEE	D	0.36%
RF	B	0.35%
CVS	D	0.35%
HBAN	D	0.35%
EXC	D	0.35%
COF	D	0.34%
KHC	D	0.33%
VTRS	D	0.33%
HPQ	C	0.32%
RS	D	0.32%
WBD	F	0.32%
HAL	F	0.32%
KDP	D	0.31%
GS	A	0.3%
CNP	B	0.3%
EQR	B	0.3%
CE	F	0.3%
BEN	F	0.3%
BKR	C	0.29%
BBY	C	0.29%
DGX	C	0.29%
BAC	B	0.29%
AFL	B	0.29%
DUK	C	0.29%
BMY	F	0.29%
NWSA	B	0.29%
LKQ	F	0.29%
HIG	C	0.28%
OKE	B	0.28%
D	C	0.28%
EIX	C	0.28%
FDX	B	0.28%
AEP	C	0.28%
FITB	D	0.27%
LUV	D	0.27%
ATO	D	0.27%
CTSH	C	0.26%
GILD	C	0.26%
PNC	C	0.26%
STT	C	0.26%
TROW	C	0.26%
CSCO	D	0.26%
USB	D	0.25%
IPG	F	0.25%
UHAL	D	0.25%
TDY	D	0.25%
DE	F	0.25%
CNC	D	0.24%
KR	C	0.24%
SNA	F	0.24%
NOV	D	0.23%
VAL	B	0.23%
RRC	D	0.23%
SEB	F	0.23%
LBRT	D	0.23%
WTM	D	0.23%
AL	C	0.22%
NEE	D	0.22%
VTR	A	0.22%
CNXC	C	0.22%
NOG	C	0.22%
JBL	F	0.22%
IAC	F	0.21%
APD	D	0.21%
AGO	D	0.21%
SIG	D	0.21%
MTDR	D	0.21%
FMC	F	0.21%
OVV	D	0.21%
ADTN	D	0.21%
HCA	C	0.2%
GPN	D	0.2%
FYBR	B	0.2%
APA	F	0.2%
HP	D	0.2%
HUM	C	0.2%
PTEN	F	0.2%
BIIB	C	0.2%
MAA	C	0.2%
SM	D	0.2%
MDU	C	0.19%
CMS	D	0.19%
FE	C	0.19%
R	B	0.19%
CHTR	C	0.19%
MS	B	0.19%
JCI	D	0.19%
LMT	C	0.19%
HSY	F	0.18%
ONB	B	0.18%
MDLZ	D	0.18%
CADE	D	0.18%
WEC	D	0.18%
G	D	0.18%
PKG	C	0.18%
SSNC	B	0.18%
PYPL	D	0.17%
GPC	D	0.17%
ZM	F	0.17%
TRV	D	0.17%
TXT	D	0.17%
MDT	D	0.17%
GIS	D	0.17%
UPS	D	0.17%
CI	D	0.17%
ZBH	D	0.16%
TGT	D	0.16%
AR	D	0.16%
KEY	C	0.16%
LOW	D	0.16%
ABR	B	0.15%
LILAK	B	0.15%
DAR	F	0.15%
JBHT	F	0.15%
REVG	D	0.15%
CRK	D	0.15%
OGN	C	0.15%
FHN	C	0.14%
BOKF	D	0.14%
HWC	C	0.14%
SNDR	B	0.14%
ABCB	C	0.14%
CZR	C	0.13%
UAA	F	0.13%
EIG	C	0.13%
MODG	D	0.13%
IPGP	D	0.13%
NWN	F	0.13%
WCC	D	0.13%
SPB	D	0.13%
FFBC	D	0.13%
WMK	D	0.13%
M	C	0.13%
ALK	F	0.13%
WAL	B	0.13%
ATSG	C	0.13%
PRG	D	0.13%
MLKN	D	0.12%
TALO	F	0.12%
KEX	B	0.12%
DNOW	D	0.12%
CAR	F	0.12%
ABM	B	0.12%
CMA	C	0.12%
TPR	C	0.12%
RC	C	0.12%
JBT	F	0.12%
SR	C	0.11%
EBC	B	0.11%
NWE	D	0.11%
AAT	B	0.11%
QCOM	B	0.11%
PVH	F	0.11%
MRTN	C	0.11%
KSS	F	0.11%
GLW	B	0.11%
BANR	C	0.11%
RLJ	F	0.11%
PII	F	0.11%
SEM	A	0.11%
HTLD	C	0.11%
VBTX	C	0.11%
CPNG	C	0.11%
STBA	B	0.11%
SASR	C	0.11%
WSFS	B	0.11%
NBHC	B	0.11%
CABO	F	0.11%
GDEN	F	0.11%
KN	D	0.11%
OLN	F	0.11%
RTX	D	0.1%
ELV	C	0.1%
GD	D	0.1%
EXPD	B	0.1%
DD	C	0.1%
CROX	C	0.1%
LHX	B	0.1%
MSGE	D	0.1%
AWK	B	0.1%
WERN	F	0.1%
INDB	D	0.1%
KMB	B	0.1%
FRME	D	0.1%
OCFC	B	0.1%
KOS	F	0.1%
REGN	B	0.1%
PFS	D	0.1%
DAN	F	0.1%
SAH	D	0.1%
EFSC	C	0.1%
WMT	A	0.1%
OMC	D	0.09%
JNJ	F	0.09%
FNF	D	0.09%
TKR	D	0.09%
PB	D	0.09%
CTVA	D	0.09%
APOG	D	0.09%
GOGO	D	0.09%
BECN	D	0.09%
RJF	D	0.09%
ICUI	B	0.09%
SLM	D	0.09%
SNV	B	0.09%
SWX	D	0.09%
HOMB	D	0.09%
ALGT	F	0.09%
COLM	D	0.09%
ASH	D	0.09%
UNH	D	0.09%
PRU	B	0.09%
SBH	D	0.09%
PFE	C	0.09%
NKE	F	0.09%
CLF	D	0.09%
NJR	D	0.09%
K	D	0.09%
DOV	D	0.09%
REZI	D	0.09%
WTRG	C	0.09%
TSCO	D	0.09%
LNT	B	0.09%
SJW	D	0.08%
WAFD	C	0.08%
RNST	B	0.08%
GES	D	0.08%
GT	F	0.08%
TOWN	B	0.08%
NWBI	C	0.08%
DG	F	0.08%
BUSE	B	0.08%
RYI	F	0.08%
PNM	D	0.08%
FIBK	B	0.08%
HGV	D	0.08%
UNF	B	0.08%
WHR	C	0.08%
PPG	D	0.08%
HPP	D	0.08%
ODP	F	0.08%
CTOS	F	0.08%
EAT	C	0.08%
BKU	C	0.08%
ADNT	F	0.08%
RYN	D	0.08%
HUN	F	0.08%
SSB	D	0.08%
TCBK	C	0.08%
SYY	D	0.08%
SLGN	D	0.08%
TRMK	C	0.08%
EPC	B	0.08%
UBSI	D	0.08%
ARE	C	0.08%
WRB	C	0.08%
HLF	C	0.08%
J	D	0.08%
PNFP	D	0.08%
DOW	D	0.08%
DNB	F	0.08%
OLPX	F	0.07%
LTH	B	0.07%
SSTK	F	0.07%
HTLF	B	0.07%
MOH	F	0.07%
PDCO	F	0.07%
SFNC	D	0.07%
POOL	F	0.07%
HOPE	C	0.07%
WSBC	D	0.07%
WY	F	0.07%
BOOT	B	0.07%
FOXF	C	0.07%
BBWI	F	0.07%
KMT	F	0.07%
PRGO	F	0.07%
FHI	C	0.07%
VSCO	D	0.07%
NBTB	B	0.06%
NX	F	0.06%
LNN	D	0.06%
HTZ	F	0.06%
LGND	B	0.06%
LGIH	F	0.06%
VAC	F	0.06%
THC	C	0.06%
EPAM	F	0.06%
JBLU	C	0.06%
ECVT	D	0.06%
INTC	C	0.06%
MATW	F	0.06%
PRIM	D	0.06%
AGNC	A	0.05%
CIEN	F	0.05%
LPX	D	0.05%
USFD	C	0.05%
REYN	D	0.05%
AVNT	D	0.05%
FBNC	C	0.05%
PFSI	B	0.05%
VRTS	D	0.05%
PENN	C	0.05%
KLG	F	0.05%
AUB	C	0.05%
NMRK	C	0.05%
MCRI	D	0.05%
SBCF	D	0.05%
FHB	C	0.05%
XHR	D	0.05%
DFIN	D	0.05%
THS	C	0.05%
JBGS	B	0.05%
ASB	D	0.05%
TRS	D	0.05%
WD	D	0.05%
CVBF	C	0.05%
PCRX	F	0.05%
UCBI	D	0.05%
JEF	B	0.05%
KALU	D	0.05%
GTY	D	0.05%
BLMN	F	0.05%
HTH	D	0.05%
BHLB	C	0.05%
PSMT	D	0.05%
TCBI	C	0.05%
CHGG	F	0.05%
KOP	F	0.05%
BJ	B	0.05%
XRX	F	0.05%
OI	F	0.04%
MIDD	F	0.04%
BXC	F	0.04%
GPS	C	0.04%
FAF	D	0.04%
CMCO	F	0.04%
IVZ	D	0.04%
LANC	B	0.04%
GXO	F	0.04%
SEE	F	0.04%
NVEE	F	0.03%
CBU	B	0.03%
COHU	B	0.03%
IBTX	B	0.03%
PGRE	C	0.03%
OII	B	0.03%
CPK	C	0.03%
KFY	B	0.03%
LXP	B	0.03%
FBK	B	0.03%
ALEX	B	0.03%
ROG	D	0.03%
NNI	C	0.03%
CTS	D	0.03%
HLIO	D	0.03%
MWA	C	0.03%
CAKE	C	0.03%
B	B	0.03%
CBRL	F	0.03%
AIR	B	0.03%
TTMI	B	0.03%
JELD	F	0.03%
FWRD	D	0.03%
ENOV	F	0.02%
ADV	D	0.02%
GO	D	0.02%
PTVE	F	0.02%
ATUS	F	0.02%
CSGS	F	0.02%
HI	F	0.02%
DK	F	0.02%
CMTG	D	0.02%
FDP	F	0.02%
OXM	D	0.02%
VICR	F	0.02%
ARI	D	0.02%
AIN	D	0.02%
SCL	D	0.02%
SHEN	C	0.02%
PPBI	F	0.02%
NIC	C	0.02%
STC	D	0.02%

FAB Underweight 354 Positions Relative to FSMD

Symbol	Grade	Weight
PSTG	B	-0.45%
EME	D	-0.42%
TPL	B	-0.39%
IBKR	B	-0.36%
CASY	B	-0.36%
WING	B	-0.35%
FTI	B	-0.34%
RBA	B	-0.34%
APP	B	-0.34%
UDR	B	-0.32%
WRK	C	-0.32%
TOL	D	-0.32%
TW	C	-0.32%
NVT	D	-0.32%
TXRH	B	-0.32%
JKHY	C	-0.31%
BLD	D	-0.31%
ELF	C	-0.31%
XPO	C	-0.31%
TECH	D	-0.3%
FIX	D	-0.3%
MEDP	C	-0.3%
AMH	A	-0.3%
CLH	B	-0.3%
ANF	C	-0.3%
TTEK	D	-0.29%
WMS	D	-0.29%
GWRE	A	-0.29%
ONTO	B	-0.29%
VKTX	D	-0.29%
MUSA	C	-0.28%
SCI	C	-0.28%
CW	C	-0.28%
LNW	B	-0.28%
JNPR	B	-0.28%
QRVO	B	-0.28%
SFM	B	-0.28%
LAMR	B	-0.28%
WWD	D	-0.28%
REG	B	-0.27%
ITT	D	-0.27%
CUBE	B	-0.27%
BSY	D	-0.27%
CHRW	C	-0.27%
CRL	F	-0.27%
ERIE	C	-0.26%
AOS	D	-0.26%
DOCU	C	-0.26%
HALO	B	-0.26%
RPRX	F	-0.26%
NYT	A	-0.25%
OHI	B	-0.25%
TTC	C	-0.25%
FFIV	C	-0.25%
OLED	A	-0.25%
ALLE	D	-0.25%
SWN	D	-0.24%
DCI	D	-0.24%
HAS	D	-0.24%
EVR	A	-0.24%
FN	C	-0.24%
BPMC	A	-0.24%
KNSL	F	-0.24%
ATR	D	-0.24%
HRB	B	-0.24%
PRI	C	-0.24%
BWXT	B	-0.24%
KBR	D	-0.24%
DVA	C	-0.24%
HLI	A	-0.23%
RL	C	-0.23%
ALV	D	-0.23%
TPX	D	-0.23%
RYAN	B	-0.23%
CHE	D	-0.23%
DOX	D	-0.23%
NNN	B	-0.23%
DUOL	F	-0.23%
ADMA	B	-0.23%
ESTC	B	-0.23%
MORN	B	-0.23%
CNM	D	-0.23%
HQY	B	-0.23%
LNTH	C	-0.23%
AIT	C	-0.22%
INGR	D	-0.22%
FRT	C	-0.22%
EXEL	C	-0.22%
RGLD	B	-0.22%
MTCH	F	-0.22%
EGP	B	-0.22%
OLLI	B	-0.22%
FCN	D	-0.22%
ETRN	D	-0.22%
VOYA	D	-0.22%
ENSG	B	-0.22%
GNTX	D	-0.22%
X	C	-0.21%
IONS	B	-0.21%
PCVX	B	-0.21%
BFAM	C	-0.21%
TREX	F	-0.21%
MSA	C	-0.21%
GPK	D	-0.21%
CR	C	-0.21%
BRX	B	-0.21%
ALSN	D	-0.21%
BRBR	B	-0.21%
RBC	C	-0.21%
ACI	F	-0.21%
ELAN	D	-0.21%
EXAS	D	-0.2%
AAON	B	-0.2%
SSD	F	-0.2%
SPSC	B	-0.2%
EXP	D	-0.2%
KD	C	-0.2%
STAG	B	-0.2%
FLS	D	-0.2%
AXTA	D	-0.2%
MMSI	B	-0.19%
STNG	B	-0.19%
COKE	B	-0.19%
FR	C	-0.19%
CORT	C	-0.19%
WH	C	-0.19%
CVLT	B	-0.19%
ESI	B	-0.19%
BMI	C	-0.19%
MTN	F	-0.19%
RLI	D	-0.19%
MHK	D	-0.19%
FORM	A	-0.19%
KRG	B	-0.18%
RMBS	B	-0.18%
RGEN	F	-0.18%
MOG.A	C	-0.18%
HLNE	B	-0.18%
SMAR	B	-0.18%
WIRE	A	-0.18%
BCO	B	-0.18%
ESAB	D	-0.18%
ALTR	B	-0.18%
STRL	D	-0.18%
VNT	D	-0.18%
BRKR	F	-0.18%
CSWI	A	-0.17%
APPF	B	-0.17%
VRRM	B	-0.17%
OPCH	F	-0.17%
UFPT	A	-0.17%
TRNO	B	-0.17%
ITGR	C	-0.17%
VRNS	B	-0.17%
HAE	C	-0.17%
FSS	D	-0.17%
PCOR	C	-0.17%
EPRT	A	-0.17%
AWI	D	-0.17%
SKYW	B	-0.17%
ATGE	A	-0.17%
ACIW	A	-0.17%
NSIT	C	-0.17%
IBP	D	-0.17%
IOT	C	-0.17%
LMAT	A	-0.16%
PSN	C	-0.16%
CEIX	B	-0.16%
TENB	C	-0.16%
XRAY	F	-0.16%
NHI	A	-0.16%
VIRT	C	-0.16%
WTS	D	-0.16%
SATS	B	-0.16%
PLMR	C	-0.16%
PBH	C	-0.16%
BCPC	A	-0.16%
ACLS	B	-0.16%
LOPE	C	-0.16%
VSTO	B	-0.15%
ZWS	D	-0.15%
QLYS	D	-0.15%
GPOR	D	-0.15%
LRN	D	-0.15%
DLB	D	-0.15%
TNL	D	-0.15%
DOCS	B	-0.15%
ACA	D	-0.15%
WMG	D	-0.15%
AXNX	B	-0.15%
CTRE	A	-0.15%
ALKS	C	-0.15%
INSW	C	-0.15%
CBZ	D	-0.15%
LIVN	D	-0.15%
DBX	D	-0.15%
KTB	D	-0.15%
ASC	C	-0.15%
LAUR	C	-0.14%
SKT	D	-0.14%
CRVL	B	-0.14%
CHH	B	-0.14%
BRC	B	-0.14%
AGX	C	-0.14%
KAI	B	-0.14%
MGEE	D	-0.14%
DAKT	B	-0.14%
BOX	D	-0.14%
CARG	C	-0.14%
EPR	C	-0.14%
OTTR	D	-0.14%
AMED	A	-0.14%
TNK	C	-0.14%
FELE	D	-0.14%
OSG	A	-0.14%
IESC	C	-0.14%
ICFI	D	-0.13%
JJSF	B	-0.13%
AZZ	D	-0.13%
IOSP	D	-0.13%
CPRX	D	-0.13%
SLP	F	-0.13%
SKWD	D	-0.13%
HWKN	B	-0.13%
ROAD	D	-0.13%
ALRM	C	-0.13%
PATH	D	-0.13%
ASTH	C	-0.13%
LPG	C	-0.13%
IDCC	A	-0.13%
VCEL	C	-0.13%
FTDR	D	-0.13%
ACT	C	-0.12%
AMRX	C	-0.12%
NWLI	A	-0.12%
TBBK	B	-0.12%
POWL	D	-0.12%
AGM	B	-0.12%
GRBK	C	-0.12%
WABC	D	-0.12%
NSP	F	-0.12%
ANIP	D	-0.12%
GOLF	C	-0.12%
PETQ	B	-0.12%
WDFC	D	-0.12%
REX	F	-0.12%
YELP	F	-0.12%
LTC	A	-0.12%
TNET	F	-0.12%
NEU	D	-0.12%
CHCO	C	-0.12%
LCII	F	-0.12%
WEN	F	-0.12%
MSM	F	-0.12%
ESE	D	-0.12%
HCC	C	-0.12%
BLKB	D	-0.12%
COLL	C	-0.11%
AMAL	B	-0.11%
AMR	D	-0.11%
HSTM	C	-0.11%
NCNO	B	-0.11%
PLTK	F	-0.11%
FIZZ	B	-0.11%
CTBI	C	-0.11%
ACLX	C	-0.11%
PGNY	D	-0.11%
MYRG	F	-0.11%
TK	C	-0.11%
IBCP	B	-0.11%
PRGS	B	-0.11%
MGRC	D	-0.11%
TNC	D	-0.11%
OSBC	B	-0.11%
CCOI	D	-0.11%
IDYA	F	-0.11%
CWAN	B	-0.11%
EVTC	F	-0.11%
USLM	C	-0.11%
TDC	C	-0.11%
SUPN	F	-0.11%
USPH	F	-0.11%
QCRH	C	-0.11%
MLR	D	-0.11%
CLW	D	-0.11%
OSIS	C	-0.11%
SXI	D	-0.11%
BDN	D	-0.1%
BFST	D	-0.1%
SCS	C	-0.1%
WINA	D	-0.1%
ROCK	D	-0.1%
IRMD	B	-0.1%
GRC	C	-0.1%
FIVN	D	-0.1%
MTRN	F	-0.1%
BL	D	-0.1%
PDM	B	-0.1%
HAFC	C	-0.1%
ARDX	F	-0.1%
VGR	C	-0.1%
HURN	C	-0.1%
SPOK	C	-0.09%
AMWD	F	-0.09%
PLAB	D	-0.09%
JBI	D	-0.09%
MSBI	D	-0.09%
JBSS	D	-0.09%
ACAD	C	-0.09%
FOR	F	-0.09%
KELYA	D	-0.09%
WRLD	D	-0.09%
GSHD	D	-0.09%
ETD	D	-0.09%
RAMP	C	-0.09%
HNRG	C	-0.09%
ALG	F	-0.09%
WS	C	-0.09%
MCB	C	-0.09%
THFF	D	-0.09%
EBF	B	-0.09%
INFA	B	-0.09%
CASS	D	-0.09%
AMPH	F	-0.09%
GIII	F	-0.09%
RMR	D	-0.08%
DFH	F	-0.08%
SXC	D	-0.08%
KREF	D	-0.08%
HCKT	D	-0.08%
FRSH	D	-0.08%
PLPC	F	-0.08%
BELFB	C	-0.08%
SIRI	C	-0.08%
SWI	B	-0.08%
DV	D	-0.08%
ODC	F	-0.08%
GNE	D	-0.07%
HVT	F	-0.07%
IRON	C	-0.07%
SMLR	C	-0.07%
MITK	F	-0.07%
CWCO	D	-0.07%
IRWD	F	-0.06%
OSUR	F	-0.06%
QTRX	F	-0.06%
NRC	F	-0.06%
GIC	F	-0.06%
OABI	D	-0.06%
LSEA	F	-0.06%
CCRN	F	-0.06%
RCMT	F	-0.05%
AMCX	F	-0.05%
MED	F	-0.04%