FAD vs. ESML ETF Comparison

Comparison of First Trust MuFirst Trust Multi CG AlphaDEX (FAD) to iShares MSCI USA Small-Cap ESG Optimized ETF (ESML)

FAD

First Trust MuFirst Trust Multi CG AlphaDEX

FAD 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 Growth 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) Growth 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

$133.58

Average Daily Volume

5,542

Number of Holdings ^*

649

* may have additional holdings in another (foreign) market

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

$41.61

Average Daily Volume

109,653

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

Performance

Period	FAD	ESML
30 Days	6.45%	3.88%
60 Days	13.50%	9.57%
90 Days	8.84%	9.72%
12 Months	37.41%	29.14%

304 Overlapping Holdings

Symbol	Grade	Weight in FAD	Weight in ESML	Overlap
AAON	A	0.2%	0.21%	0.2%
ACA	C	0.14%	0.13%	0.13%
ACIW	A	0.15%	0.15%	0.15%
ACVA	C	0.08%	0.07%	0.07%
ADC	C	0.1%	0.12%	0.1%
ADMA	A	0.21%	0.06%	0.06%
AEIS	B	0.08%	0.16%	0.08%
AFRM	C	0.11%	0.19%	0.11%
AGIO	D	0.12%	0.05%	0.05%
AGL	F	0.04%	0.04%	0.04%
AGYS	D	0.1%	0.05%	0.05%
AI	D	0.02%	0.05%	0.02%
AIT	B	0.19%	0.11%	0.11%
ALG	F	0.02%	0.08%	0.02%
ALHC	C	0.18%	0.06%	0.06%
ALKS	B	0.09%	0.1%	0.09%
ALKT	D	0.13%	0.05%	0.05%
ALRM	F	0.04%	0.04%	0.04%
ALSN	A	0.26%	0.22%	0.22%
ALTR	B	0.12%	0.14%	0.12%
AM	A	0.17%	0.16%	0.16%
AMC	F	0.04%	0.04%	0.04%
AMWD	C	0.03%	0.07%	0.03%
ANF	D	0.16%	0.15%	0.15%
APG	F	0.14%	0.06%	0.06%
APPF	C	0.16%	0.12%	0.12%
ARMK	C	0.19%	0.24%	0.19%
AROC	B	0.12%	0.09%	0.09%
ATGE	D	0.13%	0.05%	0.05%
ATI	C	0.25%	0.18%	0.18%
ATR	A	0.19%	0.23%	0.19%
AVAV	B	0.22%	0.13%	0.13%
AWI	A	0.19%	0.21%	0.19%
AWR	B	0.03%	0.05%	0.03%
AXSM	D	0.14%	0.05%	0.05%
AXTA	C	0.13%	0.26%	0.13%
AZEK	D	0.09%	0.14%	0.09%
AZZ	B	0.13%	0.08%	0.08%
BANC	D	0.03%	0.06%	0.03%
BASE	F	0.02%	0.04%	0.02%
BCPC	C	0.09%	0.14%	0.09%
BE	F	0.04%	0.04%	0.04%
BEAM	F	0.02%	0.05%	0.02%
BFAM	C	0.21%	0.28%	0.21%
BKD	F	0.12%	0.05%	0.05%
BLD	D	0.09%	0.3%	0.09%
BLKB	C	0.09%	0.13%	0.09%
BMI	A	0.19%	0.31%	0.19%
BOX	C	0.05%	0.13%	0.05%
BPMC	F	0.14%	0.08%	0.08%
BRBR	A	0.13%	0.09%	0.09%
BRC	C	0.11%	0.1%	0.1%
BROS	F	0.07%	0.05%	0.05%
BRX	C	0.05%	0.16%	0.05%
BWXT	A	0.19%	0.26%	0.19%
CAL	F	0.09%	0.04%	0.04%
CASY	D	0.2%	0.5%	0.2%
CBT	B	0.2%	0.14%	0.14%
CBZ	F	0.09%	0.05%	0.05%
CCOI	B	0.05%	0.1%	0.05%
CDP	A	0.03%	0.22%	0.03%
CFLT	F	0.06%	0.11%	0.06%
CFR	B	0.13%	0.08%	0.08%
CHDN	C	0.16%	0.13%	0.13%
CHE	D	0.05%	0.15%	0.05%
CHH	A	0.09%	0.05%	0.05%
CIVI	F	0.03%	0.06%	0.03%
CLDX	F	0.04%	0.05%	0.04%
CLH	B	0.22%	0.06%	0.06%
CLSK	F	0.03%	0.04%	0.03%
CNK	D	0.15%	0.08%	0.08%
CNM	F	0.11%	0.25%	0.11%
CNMD	F	0.02%	0.05%	0.02%
COKE	C	0.25%	0.06%	0.06%
CPRX	C	0.09%	0.05%	0.05%
CRDO	B	0.09%	0.1%	0.09%
CRNX	C	0.05%	0.1%	0.05%
CRS	B	0.17%	0.14%	0.14%
CRVL	C	0.16%	0.09%	0.09%
CUBE	C	0.05%	0.23%	0.05%
CVLT	B	0.21%	0.21%	0.21%
CVNA	A	0.28%	0.36%	0.28%
CW	A	0.25%	0.22%	0.22%
CWAN	B	0.03%	0.05%	0.03%
CXM	F	0.02%	0.04%	0.02%
DCI	B	0.13%	0.25%	0.13%
DNLI	C	0.03%	0.11%	0.03%
DOCN	B	0.03%	0.05%	0.03%
DOCS	A	0.07%	0.07%	0.07%
DUOL	B	0.17%	0.16%	0.16%
DY	C	0.14%	0.11%	0.11%
EGP	D	0.04%	0.23%	0.04%
ELF	F	0.11%	0.13%	0.11%
ENSG	D	0.24%	0.21%	0.21%
ENV	C	0.07%	0.07%	0.07%
EPAC	A	0.1%	0.12%	0.1%
EPR	C	0.05%	0.06%	0.05%
EPRT	C	0.15%	0.2%	0.15%
ESE	C	0.06%	0.09%	0.06%
ESRT	C	0.08%	0.07%	0.07%
ESTC	F	0.11%	0.16%	0.11%
ETWO	F	0.05%	0.05%	0.05%
EXLS	B	0.15%	0.2%	0.15%
EXP	C	0.11%	0.06%	0.06%
EXPO	A	0.1%	0.07%	0.07%
FA	A	0.06%	0.12%	0.06%
FCN	C	0.17%	0.23%	0.17%
FELE	C	0.04%	0.23%	0.04%
FIX	A	0.26%	0.36%	0.26%
FORM	D	0.07%	0.05%	0.05%
FOUR	A	0.15%	0.06%	0.06%
FRPT	A	0.22%	0.18%	0.18%
FSS	D	0.18%	0.16%	0.16%
FTDR	B	0.13%	0.2%	0.13%
GATX	F	0.12%	0.16%	0.12%
GBX	C	0.1%	0.05%	0.05%
GERN	D	0.13%	0.06%	0.06%
GH	F	0.06%	0.06%	0.06%
GKOS	B	0.18%	0.17%	0.17%
GPK	D	0.09%	0.29%	0.09%
GRBK	C	0.1%	0.05%	0.05%
GVA	A	0.15%	0.07%	0.07%
GWRE	A	0.22%	0.41%	0.22%
HAE	F	0.08%	0.11%	0.08%
HALO	D	0.22%	0.12%	0.12%
HAS	A	0.15%	0.22%	0.15%
HASI	B	0.08%	0.12%	0.08%
HCC	C	0.17%	0.05%	0.05%
HIMS	C	0.11%	0.06%	0.06%
HLX	C	0.11%	0.05%	0.05%
HQY	B	0.16%	0.14%	0.14%
HRB	C	0.24%	0.21%	0.21%
HRI	B	0.1%	0.18%	0.1%
HURN	D	0.1%	0.06%	0.06%
HWKN	B	0.16%	0.07%	0.07%
HXL	F	0.04%	0.15%	0.04%
IBKR	A	0.23%	0.26%	0.23%
IBP	C	0.15%	0.12%	0.12%
ICFI	C	0.11%	0.09%	0.09%
IDCC	A	0.11%	0.11%	0.11%
IESC	A	0.17%	0.06%	0.06%
INFA	D	0.07%	0.05%	0.05%
INGR	B	0.15%	0.41%	0.15%
INSM	D	0.22%	0.23%	0.22%
INTA	C	0.03%	0.07%	0.03%
IONS	F	0.1%	0.05%	0.05%
IOSP	F	0.06%	0.08%	0.06%
ITCI	D	0.09%	0.14%	0.09%
ITGR	B	0.23%	0.13%	0.13%
ITRI	C	0.13%	0.18%	0.13%
ITT	C	0.19%	0.3%	0.19%
JAMF	F	0.02%	0.05%	0.02%
JWN	D	0.1%	0.06%	0.06%
KD	D	0.18%	0.09%	0.09%
KNF	B	0.21%	0.13%	0.13%
KNSL	B	0.1%	0.2%	0.1%
KNTK	A	0.08%	0.15%	0.08%
KRYS	D	0.12%	0.05%	0.05%
KTB	C	0.2%	0.15%	0.15%
KTOS	B	0.11%	0.07%	0.07%
KYMR	D	0.11%	0.06%	0.06%
LNTH	C	0.22%	0.14%	0.14%
LNW	F	0.18%	0.2%	0.18%
LOPE	D	0.17%	0.05%	0.05%
LRN	D	0.14%	0.11%	0.11%
LYFT	D	0.07%	0.09%	0.07%
MAC	B	0.1%	0.08%	0.08%
MARA	F	0.07%	0.08%	0.07%
MEDP	F	0.17%	0.15%	0.15%
MGNI	D	0.07%	0.05%	0.05%
MIR	B	0.07%	0.06%	0.06%
MKSI	F	0.14%	0.15%	0.14%
MLNK	F	0.05%	0.05%	0.05%
MMSI	C	0.14%	0.15%	0.14%
MOD	B	0.27%	0.18%	0.18%
MOG.A	C	0.25%	0.23%	0.23%
MORN	B	0.13%	0.18%	0.13%
MRUS	D	0.08%	0.06%	0.06%
MSA	F	0.12%	0.19%	0.12%
MTRN	F	0.02%	0.06%	0.02%
MTSI	B	0.16%	0.08%	0.08%
MUSA	D	0.21%	0.34%	0.21%
MYGN	D	0.11%	0.06%	0.06%
MYRG	D	0.04%	0.11%	0.04%
NABL	F	0.06%	0.05%	0.05%
NARI	F	0.02%	0.06%	0.02%
NCLH	C	0.13%	0.2%	0.13%
NCNO	F	0.04%	0.04%	0.04%
NEO	F	0.02%	0.05%	0.02%
NOVA	F	0.04%	0.05%	0.04%
NTNX	C	0.34%	0.33%	0.33%
NTRA	A	0.24%	0.26%	0.24%
NYT	C	0.18%	0.19%	0.18%
OHI	C	0.15%	0.2%	0.15%
OLED	B	0.12%	0.1%	0.1%
OLLI	C	0.2%	0.13%	0.13%
ONTO	B	0.15%	0.3%	0.15%
OPCH	F	0.05%	0.13%	0.05%
ORA	C	0.09%	0.11%	0.09%
OSCR	C	0.16%	0.06%	0.06%
OUT	C	0.06%	0.08%	0.06%
OWL	A	0.13%	0.05%	0.05%
PAR	D	0.08%	0.06%	0.06%
PAYO	A	0.13%	0.05%	0.05%
PCOR	D	0.04%	0.15%	0.04%
PD	F	0.04%	0.05%	0.04%
PDFS	F	0.06%	0.06%	0.06%
PEB	D	0.05%	0.07%	0.05%
PEGA	B	0.2%	0.09%	0.09%
PGNY	F	0.02%	0.05%	0.02%
PI	A	0.16%	0.09%	0.09%
PJT	A	0.15%	0.09%	0.09%
PK	D	0.07%	0.06%	0.06%
PLAY	D	0.02%	0.05%	0.02%
PLMR	A	0.11%	0.08%	0.08%
PLNT	B	0.14%	0.18%	0.14%
POST	C	0.23%	0.1%	0.1%
POWL	B	0.18%	0.07%	0.07%
PR	D	0.1%	0.17%	0.1%
PRCT	D	0.15%	0.08%	0.08%
PRGS	A	0.09%	0.24%	0.09%
PRI	A	0.18%	0.22%	0.18%
PRVA	F	0.05%	0.07%	0.05%
PSN	A	0.26%	0.11%	0.11%
PTCT	C	0.11%	0.05%	0.05%
PTGX	C	0.15%	0.06%	0.06%
QTWO	B	0.16%	0.1%	0.1%
RAMP	F	0.04%	0.05%	0.04%
RDNT	C	0.14%	0.09%	0.09%
RGLD	C	0.05%	0.32%	0.05%
RHP	B	0.04%	0.2%	0.04%
RKLB	B	0.1%	0.06%	0.06%
RKT	D	0.03%	0.06%	0.03%
RL	B	0.18%	0.09%	0.09%
RLI	A	0.13%	0.19%	0.13%
RNG	F	0.03%	0.05%	0.03%
ROCK	D	0.02%	0.06%	0.02%
ROIV	D	0.09%	0.06%	0.06%
RUN	D	0.04%	0.09%	0.04%
RVMD	B	0.14%	0.08%	0.08%
RXST	F	0.1%	0.05%	0.05%
RYAN	A	0.19%	0.13%	0.13%
S	C	0.09%	0.11%	0.09%
SAIA	D	0.04%	0.24%	0.04%
SATS	C	0.16%	0.07%	0.07%
SBRA	C	0.08%	0.08%	0.08%
SFBS	B	0.21%	0.05%	0.05%
SFM	A	0.27%	0.35%	0.27%
SHAK	A	0.08%	0.08%	0.08%
SHC	C	0.06%	0.05%	0.05%
SKT	A	0.06%	0.06%	0.06%
SLG	C	0.12%	0.1%	0.1%
SMAR	A	0.15%	0.14%	0.14%
SMPL	D	0.08%	0.05%	0.05%
SMTC	C	0.14%	0.06%	0.06%
SOFI	C	0.1%	0.13%	0.1%
SPR	D	0.09%	0.06%	0.06%
SRPT	F	0.16%	0.21%	0.16%
SSD	B	0.05%	0.11%	0.05%
STRL	B	0.14%	0.11%	0.11%
STWD	C	0.13%	0.11%	0.11%
TBBK	A	0.13%	0.08%	0.08%
TDS	C	0.13%	0.07%	0.07%
TENB	D	0.04%	0.1%	0.04%
TGI	F	0.06%	0.05%	0.05%
TGTX	D	0.03%	0.05%	0.03%
TKO	A	0.19%	0.18%	0.18%
TMDX	D	0.12%	0.09%	0.09%
TNC	F	0.07%	0.06%	0.06%
TNDM	D	0.1%	0.06%	0.06%
TNET	D	0.08%	0.08%	0.08%
TNL	B	0.1%	0.14%	0.1%
TOL	C	0.22%	0.27%	0.22%
TPX	C	0.05%	0.15%	0.05%
TRN	C	0.14%	0.09%	0.09%
TTEK	A	0.24%	0.19%	0.19%
TWST	D	0.11%	0.06%	0.06%
TXRH	A	0.21%	0.1%	0.1%
UEC	C	0.02%	0.06%	0.02%
UFPT	D	0.11%	0.06%	0.06%
VC	F	0.02%	0.1%	0.02%
VECO	F	0.07%	0.13%	0.07%
VERX	B	0.1%	0.05%	0.05%
VNT	F	0.07%	0.14%	0.07%
VRNS	B	0.14%	0.07%	0.07%
VRRM	D	0.13%	0.07%	0.07%
WDFC	B	0.05%	0.11%	0.05%
WEN	B	0.04%	0.09%	0.04%
WEX	C	0.05%	0.3%	0.05%
WFRD	F	0.14%	0.16%	0.14%
WHD	A	0.13%	0.11%	0.11%
WING	C	0.2%	0.25%	0.2%
WMS	D	0.08%	0.27%	0.08%
WNC	F	0.02%	0.05%	0.02%
WRBY	B	0.1%	0.06%	0.06%
WSC	D	0.04%	0.2%	0.04%
WT	D	0.12%	0.05%	0.05%
WTS	C	0.05%	0.21%	0.05%
WWD	C	0.2%	0.2%	0.2%
XPO	F	0.17%	0.26%	0.17%
YELP	D	0.04%	0.05%	0.04%
YETI	C	0.04%	0.13%	0.04%
ZUO	F	0.04%	0.05%	0.04%
ZWS	A	0.1%	0.19%	0.1%

FAD Overweight 345 Positions Relative to ESML

Symbol	Grade	Weight
VST	A	0.57%
IRM	B	0.55%
CEG	A	0.54%
HWM	A	0.53%
KKR	A	0.51%
BK	A	0.5%
PWR	A	0.49%
TT	A	0.49%
GE	B	0.49%
ERIE	A	0.49%
VRT	B	0.48%
WAB	A	0.48%
HEI	C	0.48%
LII	C	0.47%
META	A	0.47%
RCL	B	0.46%
GDDY	B	0.46%
GRMN	D	0.45%
FCNCA	D	0.45%
ANET	A	0.45%
GEN	A	0.45%
HLT	A	0.44%
BAH	C	0.44%
APO	A	0.44%
STX	C	0.44%
BKNG	B	0.44%
TJX	D	0.44%
MMM	C	0.44%
JPM	C	0.43%
COST	C	0.43%
FICO	C	0.43%
NVDA	B	0.41%
DECK	B	0.41%
URI	C	0.41%
NTAP	D	0.4%
ORCL	A	0.4%
LLY	D	0.4%
MSI	A	0.39%
CAT	A	0.39%
GOOGL	B	0.38%
CMG	C	0.38%
BRO	A	0.38%
ISRG	C	0.37%
CSL	A	0.37%
TDG	A	0.37%
ECL	C	0.36%
AVGO	B	0.36%
IR	A	0.36%
AJG	C	0.36%
BSX	A	0.36%
NFLX	A	0.35%
ETN	B	0.35%
CL	D	0.35%
DAL	C	0.35%
NTRS	B	0.35%
PLTR	A	0.35%
MAR	A	0.34%
AMGN	D	0.34%
RSG	D	0.34%
UBER	C	0.34%
ROST	D	0.34%
LPLA	D	0.34%
CCL	C	0.33%
VRTX	D	0.33%
PANW	B	0.33%
PHM	C	0.32%
AMZN	C	0.32%
APH	D	0.32%
APP	A	0.32%
PSTG	F	0.32%
KLAC	B	0.31%
PH	A	0.3%
CRWD	D	0.3%
PM	D	0.29%
MANH	A	0.28%
DPZ	D	0.28%
TYL	D	0.28%
LYV	A	0.28%
ARES	A	0.28%
TMUS	A	0.28%
AMAT	C	0.28%
EXPE	B	0.28%
CTAS	C	0.28%
FSLR	C	0.27%
MPWR	B	0.27%
MCO	D	0.27%
NOW	B	0.27%
MMC	D	0.26%
WSO	C	0.26%
AZO	D	0.26%
DLR	C	0.26%
WMB	A	0.26%
OTIS	A	0.26%
ORLY	A	0.26%
BR	B	0.26%
SMMT	D	0.26%
ROL	C	0.25%
LRCX	D	0.25%
WM	B	0.24%
XYL	C	0.24%
EME	B	0.24%
DVA	C	0.24%
PINS	D	0.24%
INTU	F	0.23%
BCO	C	0.23%
PCAR	D	0.23%
MSFT	D	0.23%
NXPI	F	0.22%
TOST	B	0.22%
AXON	A	0.22%
SNPS	F	0.21%
HOOD	B	0.21%
NVR	C	0.21%
IBM	A	0.21%
MGM	D	0.21%
CDNS	D	0.21%
DDOG	B	0.21%
TPL	A	0.2%
PPL	C	0.2%
ZETA	B	0.2%
FI	A	0.2%
RIVN	F	0.2%
WELL	C	0.2%
H	B	0.2%
MO	D	0.19%
TTD	A	0.19%
IT	A	0.19%
KO	C	0.19%
ALNY	C	0.19%
TW	A	0.19%
GWW	B	0.19%
PODD	C	0.19%
ADP	A	0.19%
SO	A	0.19%
HUBB	A	0.19%
SYK	C	0.18%
CRM	B	0.18%
MTD	C	0.18%
WSM	C	0.18%
ESS	D	0.18%
AVB	C	0.18%
STE	D	0.18%
AAPL	C	0.18%
ADI	B	0.17%
HLNE	A	0.17%
CHD	D	0.17%
AMD	C	0.17%
DKNG	C	0.17%
EA	D	0.17%
PG	D	0.17%
SNAP	D	0.16%
USLM	C	0.16%
HON	C	0.16%
INVH	D	0.16%
ROP	D	0.16%
MLM	F	0.16%
VRSK	D	0.16%
ZS	F	0.15%
ROAD	C	0.15%
ADBE	F	0.15%
LAMR	C	0.14%
ESAB	C	0.14%
SPNT	D	0.14%
SGBX	F	0.14%
KAI	C	0.14%
EXEL	B	0.14%
OSW	B	0.13%
CSWI	A	0.13%
WYNN	B	0.13%
OKTA	F	0.13%
IRT	D	0.13%
CORT	B	0.13%
MIRM	D	0.13%
IOT	C	0.12%
NHI	C	0.12%
EEFT	F	0.12%
ACLS	F	0.12%
CEIX	B	0.12%
SKYW	B	0.12%
CWST	D	0.12%
SMCI	F	0.12%
GOLF	F	0.12%
TDW	F	0.12%
AMRX	B	0.12%
DASH	A	0.11%
SKWD	A	0.11%
LMAT	A	0.11%
GNTX	D	0.11%
ARDX	D	0.11%
COLL	A	0.11%
TRU	C	0.11%
BOWL	D	0.1%
TPG	A	0.1%
PFGC	A	0.1%
PMT	B	0.1%
SCS	D	0.1%
MSTR	B	0.1%
MAS	C	0.1%
RMD	C	0.1%
SHW	C	0.1%
GFF	C	0.1%
FFIV	B	0.1%
MBIN	C	0.1%
LAUR	C	0.1%
BCRX	D	0.09%
IIPR	C	0.09%
TXN	C	0.09%
SYBT	C	0.09%
DRI	C	0.09%
LIN	C	0.09%
CMPR	F	0.09%
RYTM	C	0.09%
DSGR	A	0.09%
AOS	C	0.09%
ADSK	B	0.09%
SPG	A	0.09%
UDR	C	0.09%
MA	A	0.09%
MSGS	A	0.09%
RPM	A	0.09%
FLNC	C	0.09%
AKR	B	0.09%
PAYX	B	0.09%
LVS	B	0.09%
CPT	C	0.09%
SPGI	C	0.09%
CPAY	A	0.09%
TGLS	B	0.09%
HD	A	0.09%
AON	A	0.09%
SWI	B	0.08%
AESI	B	0.08%
OSIS	C	0.08%
CHCO	D	0.08%
SAM	D	0.08%
LPG	F	0.08%
CPRT	B	0.08%
GIII	C	0.08%
CDRE	A	0.08%
ROK	D	0.08%
NET	D	0.08%
HST	D	0.08%
CARG	C	0.08%
TTWO	D	0.08%
PTC	B	0.08%
CARS	F	0.08%
UE	C	0.08%
STZ	D	0.08%
NSA	D	0.08%
VMC	D	0.08%
INSW	B	0.08%
AME	C	0.08%
PEP	F	0.08%
MRVL	C	0.08%
BANF	D	0.08%
AMH	D	0.08%
WMG	D	0.08%
YOU	C	0.08%
V	B	0.08%
DFH	C	0.07%
VGR	B	0.07%
GBDC	B	0.07%
ENTG	D	0.07%
THR	F	0.07%
BA	F	0.07%
NBIX	F	0.07%
AMR	F	0.07%
GPOR	B	0.07%
WABC	F	0.07%
SLB	D	0.07%
FBRT	C	0.07%
AGM	D	0.07%
HUBS	D	0.07%
OTTR	F	0.07%
NSSC	F	0.07%
LKFN	D	0.07%
JJSF	C	0.07%
ALX	D	0.07%
FIZZ	F	0.07%
JBI	F	0.06%
IRTC	F	0.06%
ENVX	D	0.06%
EW	F	0.06%
CTRE	C	0.06%
EVH	D	0.06%
LW	D	0.06%
HRMY	D	0.06%
SMG	C	0.06%
SABR	C	0.06%
ANIP	F	0.06%
SITM	A	0.06%
RBC	C	0.05%
TECH	D	0.05%
IPAR	D	0.05%
NNN	C	0.05%
SHO	B	0.05%
AES	C	0.05%
RRR	D	0.05%
DOCU	A	0.05%
REG	C	0.05%
DOC	C	0.05%
FOR	D	0.05%
TR	D	0.05%
LADR	D	0.05%
KRG	C	0.05%
DRH	B	0.05%
LTC	D	0.05%
JOE	D	0.05%
ALLE	A	0.05%
GIC	D	0.05%
AIV	D	0.05%
HEES	D	0.05%
EXTR	D	0.05%
SXI	B	0.05%
CNS	C	0.05%
IVT	B	0.05%
VCYT	C	0.04%
XMTR	F	0.04%
TRIP	D	0.04%
FWRG	F	0.04%
VCEL	F	0.04%
JKHY	A	0.04%
NEU	F	0.04%
CELH	F	0.04%
WINA	C	0.03%
IAS	F	0.03%
DRVN	C	0.03%
KW	C	0.03%
FCPT	C	0.03%
VRE	C	0.03%
MGEE	C	0.03%
UMH	D	0.03%
ALGM	F	0.03%
MCW	F	0.02%
GTX	F	0.02%
UPWK	D	0.02%
CTKB	F	0.02%
LMND	F	0.02%
PLAB	D	0.02%
RES	C	0.02%
EVTC	D	0.02%
NTST	F	0.02%
DBRG	D	0.02%
PLYM	D	0.02%
PHR	F	0.02%

FAD Underweight 600 Positions Relative to ESML

Symbol	Grade	Weight
USFD	C	-0.49%
JHG	A	-0.45%
KBR	A	-0.4%
REXR	D	-0.39%
JLL	C	-0.38%
OGS	C	-0.33%
EWBC	B	-0.33%
FTI	B	-0.33%
FRT	D	-0.32%
FLEX	B	-0.31%
MDU	C	-0.3%
RGA	B	-0.3%
AVT	B	-0.29%
EHC	C	-0.29%
AYI	A	-0.29%
OSK	F	-0.28%
SIGI	D	-0.28%
PCVX	C	-0.27%
UGI	C	-0.27%
R	C	-0.27%
COHR	B	-0.27%
SCI	D	-0.26%
RNR	A	-0.26%
TPR	B	-0.25%
PNFP	B	-0.25%
GBCI	B	-0.25%
THC	D	-0.25%
SNV	D	-0.25%
BJ	B	-0.25%
IVZ	A	-0.25%
SSB	C	-0.25%
MTG	A	-0.25%
SWN	D	-0.24%
UMBF	C	-0.24%
RRC	D	-0.24%
HOG	D	-0.24%
FND	C	-0.24%
MWA	A	-0.23%
KBH	D	-0.23%
CROX	C	-0.23%
DTM	A	-0.23%
CNX	A	-0.23%
SUM	F	-0.23%
LSTR	F	-0.22%
CUZ	C	-0.22%
WBS	D	-0.22%
NJR	C	-0.22%
CACI	A	-0.22%
MTN	D	-0.22%
WCC	D	-0.21%
ALK	C	-0.21%
NFG	A	-0.21%
UNM	A	-0.21%
NOVT	C	-0.21%
CMC	D	-0.21%
AR	C	-0.21%
WAL	C	-0.21%
WHR	C	-0.2%
NVT	C	-0.2%
FBP	B	-0.2%
FTAI	A	-0.2%
RHI	D	-0.2%
AVA	D	-0.2%
BDC	A	-0.2%
HHH	C	-0.2%
CBSH	D	-0.2%
CMA	C	-0.19%
CR	A	-0.19%
GPI	C	-0.19%
GNRC	B	-0.19%
FHN	D	-0.19%
ACHC	F	-0.19%
MTH	C	-0.19%
PCH	C	-0.19%
BWA	C	-0.19%
LAD	C	-0.19%
LECO	D	-0.19%
AA	B	-0.19%
CIEN	A	-0.18%
SPSC	D	-0.18%
DAR	F	-0.18%
VVV	D	-0.18%
SITE	D	-0.18%
BHLB	D	-0.18%
SPXC	A	-0.18%
OMF	D	-0.18%
TGNA	B	-0.18%
FMC	C	-0.18%
WK	D	-0.18%
ENLC	A	-0.18%
CNO	B	-0.18%
NSIT	B	-0.18%
VFC	A	-0.18%
AMG	B	-0.18%
GME	D	-0.18%
CRUS	D	-0.18%
SNDR	D	-0.18%
BERY	C	-0.18%
REZI	D	-0.18%
AXS	A	-0.18%
FAF	C	-0.17%
ZION	D	-0.17%
FN	B	-0.17%
CHX	C	-0.17%
ELAN	D	-0.17%
VOYA	A	-0.17%
PCTY	C	-0.17%
ONB	D	-0.17%
BCC	C	-0.17%
DLB	D	-0.17%
RGEN	F	-0.17%
LPX	C	-0.17%
BRKR	D	-0.17%
LSCC	D	-0.17%
THG	A	-0.17%
TMHC	C	-0.17%
NOV	F	-0.16%
RRX	B	-0.16%
SLM	B	-0.16%
UBSI	D	-0.16%
CZR	B	-0.16%
LAZ	C	-0.16%
LUMN	C	-0.16%
PLXS	A	-0.16%
BHE	C	-0.16%
PVH	D	-0.16%
MTZ	A	-0.16%
PEN	D	-0.15%
HIW	C	-0.15%
SR	D	-0.15%
AGCO	D	-0.15%
BANR	B	-0.15%
GXO	D	-0.15%
JAZZ	F	-0.15%
SF	A	-0.15%
DBX	C	-0.15%
PDCO	F	-0.15%
ASB	D	-0.15%
TPH	C	-0.15%
FLS	A	-0.15%
HNI	B	-0.15%
LFUS	C	-0.15%
ASGN	D	-0.15%
MUR	F	-0.14%
NPO	C	-0.14%
JXN	A	-0.14%
GTLB	D	-0.14%
ESI	C	-0.14%
FYBR	C	-0.14%
X	F	-0.14%
FIBK	C	-0.14%
IRDM	C	-0.13%
LEA	F	-0.13%
ADT	D	-0.13%
WH	C	-0.13%
IBCP	D	-0.13%
SON	D	-0.13%
CADE	B	-0.13%
THO	C	-0.13%
SHOO	A	-0.13%
GL	C	-0.13%
M	D	-0.13%
ORI	A	-0.13%
HESM	C	-0.13%
AGNC	B	-0.13%
CPF	C	-0.13%
CYTK	D	-0.13%
DFIN	B	-0.13%
VKTX	C	-0.13%
CPK	C	-0.13%
SWX	C	-0.13%
VLY	C	-0.13%
KLIC	D	-0.13%
MAT	B	-0.13%
ECPG	F	-0.12%
ABG	D	-0.12%
SITC	D	-0.12%
RMBS	F	-0.12%
COLB	C	-0.12%
FIVE	D	-0.12%
VMI	B	-0.12%
WGO	D	-0.12%
CABO	F	-0.12%
TRNO	D	-0.12%
WERN	D	-0.12%
MTX	C	-0.12%
PFSI	C	-0.12%
RDUS	D	-0.12%
CAVA	B	-0.12%
GAP	F	-0.12%
WTM	C	-0.12%
BECN	D	-0.12%
PINC	F	-0.12%
OZK	D	-0.12%
ARW	C	-0.11%
GTLS	D	-0.11%
XENE	D	-0.11%
SCL	D	-0.11%
PRIM	A	-0.11%
U	D	-0.11%
MRCY	B	-0.11%
CGNX	F	-0.11%
EAT	A	-0.11%
SIG	C	-0.11%
PATH	D	-0.11%
KRC	C	-0.11%
FUL	F	-0.11%
BHVN	C	-0.11%
KOS	F	-0.11%
OGN	F	-0.11%
FULT	D	-0.11%
LCII	C	-0.11%
ETSY	F	-0.11%
AMED	D	-0.1%
BWIN	A	-0.1%
FR	D	-0.1%
CSGS	B	-0.1%
GMED	B	-0.1%
NMIH	B	-0.1%
NXT	F	-0.1%
RXO	D	-0.1%
AEO	C	-0.1%
AUB	D	-0.1%
AL	D	-0.1%
INSP	C	-0.1%
LBRDA	C	-0.1%
FLR	B	-0.1%
SJW	D	-0.1%
ABCB	C	-0.1%
EFSC	D	-0.1%
TDC	D	-0.1%
KAR	F	-0.1%
HCP	A	-0.1%
SLAB	D	-0.1%
EVR	C	-0.1%
DXC	C	-0.1%
MGRC	D	-0.09%
UNIT	B	-0.09%
LNN	C	-0.09%
BXMT	C	-0.09%
AUR	C	-0.09%
KFY	C	-0.09%
STC	D	-0.09%
RDN	D	-0.09%
CAC	C	-0.09%
LNC	B	-0.09%
HR	D	-0.09%
APAM	B	-0.09%
ATKR	F	-0.09%
DV	F	-0.09%
LCID	F	-0.09%
ZI	F	-0.09%
ERII	C	-0.09%
ST	F	-0.09%
BILL	D	-0.09%
CRC	B	-0.09%
JEF	A	-0.09%
AMAL	B	-0.09%
NXST	D	-0.09%
CVBF	B	-0.09%
XHR	A	-0.08%
ROG	D	-0.08%
RNA	B	-0.08%
PLUS	B	-0.08%
NWN	D	-0.08%
MAN	D	-0.08%
CHWY	C	-0.08%
EVRI	A	-0.08%
CWEN	C	-0.08%
CLVT	D	-0.08%
AMN	F	-0.08%
BC	C	-0.08%
RNST	D	-0.08%
SXT	C	-0.08%
KOP	F	-0.08%
BOOT	B	-0.08%
RARE	D	-0.08%
SPB	C	-0.08%
ENOV	F	-0.08%
CRSP	F	-0.08%
IMAX	D	-0.08%
ICUI	B	-0.08%
WU	D	-0.08%
ESNT	A	-0.08%
LITE	A	-0.08%
AN	D	-0.08%
W	C	-0.08%
MHK	C	-0.08%
TEX	F	-0.08%
SNX	C	-0.08%
HWC	D	-0.08%
VNO	B	-0.08%
ABM	D	-0.08%
NWL	D	-0.08%
BPOP	D	-0.08%
AZTA	F	-0.08%
ENR	B	-0.07%
UPBD	F	-0.07%
LXP	D	-0.07%
VITL	C	-0.07%
ANDE	D	-0.07%
PNTG	C	-0.07%
LEG	D	-0.07%
JBGS	C	-0.07%
CPRI	C	-0.07%
VCTR	A	-0.07%
HLIT	D	-0.07%
COLM	B	-0.07%
VVX	A	-0.07%
SEM	D	-0.07%
AAT	C	-0.07%
PHAT	C	-0.07%
PECO	C	-0.07%
XPRO	F	-0.07%
TREX	D	-0.07%
CTS	B	-0.07%
SASR	B	-0.07%
FL	F	-0.07%
HBI	B	-0.07%
PLYA	D	-0.07%
VAC	D	-0.07%
PRGO	F	-0.07%
RH	C	-0.07%
INDB	D	-0.07%
PDM	C	-0.07%
BL	D	-0.07%
CWK	D	-0.07%
BOH	D	-0.07%
WD	C	-0.07%
VRDN	B	-0.07%
NTGR	C	-0.07%
MPW	C	-0.07%
KREF	C	-0.07%
JBT	B	-0.07%
ACLX	C	-0.07%
AVNT	C	-0.07%
DRS	A	-0.07%
CCCS	D	-0.07%
PIPR	A	-0.07%
CLF	D	-0.07%
SEE	C	-0.07%
DEA	D	-0.07%
CALX	C	-0.07%
CCS	C	-0.07%
XRAY	D	-0.07%
ZD	D	-0.07%
COLD	D	-0.07%
PRKS	C	-0.07%
HZO	C	-0.06%
IBOC	D	-0.06%
TALO	D	-0.06%
FROG	F	-0.06%
PRG	C	-0.06%
DCO	B	-0.06%
HI	F	-0.06%
LBRDK	C	-0.06%
PPBI	D	-0.06%
CMCO	D	-0.06%
KSS	D	-0.06%
TDOC	D	-0.06%
BYD	B	-0.06%
HELE	D	-0.06%
APGE	C	-0.06%
THS	D	-0.06%
CBU	D	-0.06%
AAP	F	-0.06%
MOV	F	-0.06%
BKU	D	-0.06%
MNKD	B	-0.06%
CLB	D	-0.06%
MEI	D	-0.06%
VSEC	D	-0.06%
CART	B	-0.06%
HL	C	-0.06%
AIR	C	-0.06%
FUN	F	-0.06%
KROS	C	-0.06%
WKC	A	-0.06%
CWEN	C	-0.06%
TILE	C	-0.06%
OII	D	-0.06%
MHO	C	-0.06%
MXL	D	-0.06%
AVPT	A	-0.06%
ADUS	D	-0.06%
KE	F	-0.06%
SQSP	A	-0.06%
ALTM	D	-0.06%
PAHC	C	-0.06%
PBF	F	-0.06%
NVST	D	-0.06%
CC	D	-0.06%
POWI	F	-0.06%
FFIN	D	-0.06%
SG	C	-0.06%
ATRC	C	-0.06%
TARS	C	-0.06%
CDE	C	-0.06%
VRNT	F	-0.06%
UNFI	C	-0.06%
HGV	F	-0.06%
RCM	B	-0.06%
BDN	B	-0.06%
CMP	D	-0.06%
WTFC	B	-0.06%
COMP	C	-0.06%
CLNE	C	-0.06%
TROX	D	-0.06%
GTES	C	-0.06%
EYE	F	-0.06%
SONO	F	-0.06%
GT	F	-0.06%
EWTX	B	-0.06%
NEP	D	-0.06%
NUVL	B	-0.06%
HAIN	C	-0.06%
LEVI	C	-0.06%
MODG	F	-0.06%
IDYA	F	-0.06%
FLGT	F	-0.05%
MQ	F	-0.05%
CUBI	F	-0.05%
SVRA	F	-0.05%
BBIO	F	-0.05%
SLNO	B	-0.05%
SNDX	F	-0.05%
HPP	F	-0.05%
GPRE	F	-0.05%
IRON	C	-0.05%
PENN	D	-0.05%
PLUG	D	-0.05%
AHH	F	-0.05%
CAR	D	-0.05%
KURA	F	-0.05%
REVG	D	-0.05%
ARVN	F	-0.05%
FLO	D	-0.05%
MMS	C	-0.05%
AXL	F	-0.05%
ASTE	F	-0.05%
COUR	F	-0.05%
LGF.A	F	-0.05%
PBI	C	-0.05%
SIBN	F	-0.05%
CWT	D	-0.05%
CGEM	F	-0.05%
FFBC	D	-0.05%
ARLO	F	-0.05%
RBBN	C	-0.05%
INVX	F	-0.05%
QS	F	-0.05%
NBHC	D	-0.05%
DLX	F	-0.05%
TXG	F	-0.05%
RUSHA	D	-0.05%
PRO	F	-0.05%
DNOW	F	-0.05%
AMBC	F	-0.05%
KLG	F	-0.05%
RXRX	F	-0.05%
ZEUS	F	-0.05%
KMPR	D	-0.05%
CCRN	F	-0.05%
OMI	F	-0.05%
ASH	F	-0.05%
AVDX	F	-0.05%
EPC	F	-0.05%
ACEL	C	-0.05%
XPEL	D	-0.05%
VYX	C	-0.05%
ARCB	F	-0.05%
BGC	B	-0.05%
FOXF	F	-0.05%
MRC	D	-0.05%
FLYW	F	-0.05%
SGH	D	-0.05%
PRTA	F	-0.05%
ARCT	D	-0.05%
XRX	D	-0.05%
FTRE	F	-0.05%
OMCL	C	-0.05%
MLTX	C	-0.05%
CRI	D	-0.05%
JANX	C	-0.05%
CSTL	B	-0.05%
ICHR	D	-0.05%
PETQ	A	-0.05%
HOUS	D	-0.05%
VSCO	C	-0.05%
VRTS	D	-0.05%
MTTR	B	-0.05%
EDR	A	-0.05%
UAA	B	-0.05%
PYCR	D	-0.05%
PSMT	A	-0.05%
HAYW	C	-0.05%
GO	F	-0.05%
KELYA	D	-0.05%
ATEN	B	-0.05%
MNRO	B	-0.05%
QDEL	D	-0.05%
EMBC	F	-0.05%
DYN	D	-0.05%
HAFC	D	-0.05%
NRIX	D	-0.05%
ARWR	F	-0.05%
SAVA	D	-0.05%
IVR	C	-0.05%
VVI	B	-0.05%
PGRE	D	-0.05%
CRAI	B	-0.05%
ELVN	A	-0.05%
RYN	C	-0.05%
CAKE	A	-0.05%
ARQT	D	-0.05%
SMP	D	-0.05%
SKY	C	-0.05%
BNL	C	-0.05%
COGT	B	-0.05%
THRM	F	-0.05%
GEF	B	-0.05%
VREX	F	-0.05%
AORT	B	-0.05%
SLVM	C	-0.05%
COOP	B	-0.05%
PRAA	F	-0.05%
EE	B	-0.05%
AGO	B	-0.05%
MMI	D	-0.05%
NYCB	D	-0.05%
NBTB	D	-0.05%
KVYO	B	-0.05%
NEOG	F	-0.05%
RUSHB	D	-0.05%
EWCZ	F	-0.05%
SBH	B	-0.05%
CALM	A	-0.05%
ARKO	C	-0.05%
PLOW	D	-0.05%
SM	D	-0.05%
INFN	C	-0.05%
GEF	B	-0.05%
MASI	B	-0.05%
MBUU	D	-0.05%
LIVN	C	-0.05%
FIVN	F	-0.05%
VERA	C	-0.05%
CECO	D	-0.05%
VNOM	A	-0.05%
VBTX	C	-0.05%
ZYME	B	-0.05%
VSTS	D	-0.05%
NTLA	F	-0.05%
JELD	D	-0.05%
UPST	C	-0.05%
CRMT	F	-0.04%
APLS	F	-0.04%
BRY	F	-0.04%
FNA	F	-0.04%
PLRX	F	-0.04%
SEDG	F	-0.04%
MDGL	F	-0.04%
MEG	F	-0.04%
CNXC	F	-0.04%
ETNB	F	-0.04%
RCUS	D	-0.04%
BRZE	F	-0.04%
PTEN	F	-0.04%
NUVB	F	-0.04%
IART	F	-0.04%
SPT	F	-0.04%
SWTX	F	-0.04%
ASAN	F	-0.04%
EGY	D	-0.04%
GOGO	F	-0.04%
ASPN	C	-0.04%
NVCR	F	-0.04%
MTUS	F	-0.04%
CLW	F	-0.04%
IMVT	D	-0.04%
ANAB	D	-0.04%
LBPH	D	-0.04%
RCKT	F	-0.04%
LESL	F	-0.04%
FRSH	F	-0.04%
DGII	B	-0.04%
MLKN	F	-0.04%
ALEC	F	-0.04%
TMCI	F	-0.04%
PFS	D	-0.04%
CDNA	B	-0.04%
DK	F	-0.04%
NVAX	C	-0.04%
STAA	D	-0.04%
ESTA	D	-0.04%
VSAT	F	-0.03%
WOLF	F	-0.03%
MC	B	-0.02%
DEI	A	-0.02%
GDOT	C	-0.01%