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

$142.94

Average Daily Volume

3,896

Number of Holdings ^*

640

* 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

$43.86

Average Daily Volume

101,812

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

Performance

Period	FAD	ESML
30 Days	4.54%	3.59%
60 Days	10.74%	8.04%
90 Days	13.56%	12.60%
12 Months	39.68%	30.25%

295 Overlapping Holdings

Symbol	Grade	Weight in FAD	Weight in ESML	Overlap
AAON	B	0.18%	0.22%	0.18%
AAT	B	0.07%	0.07%	0.07%
ACIW	B	0.24%	0.15%	0.15%
ACLX	C	0.14%	0.07%	0.07%
ACVA	B	0.05%	0.05%	0.05%
ADC	A	0.16%	0.11%	0.11%
ADMA	C	0.12%	0.06%	0.06%
ADUS	D	0.07%	0.06%	0.06%
AFRM	B	0.25%	0.2%	0.2%
AGIO	B	0.12%	0.05%	0.05%
AGNC	C	0.08%	0.12%	0.08%
AGYS	B	0.05%	0.05%	0.05%
AIT	A	0.2%	0.12%	0.12%
ALHC	C	0.14%	0.07%	0.07%
ALKT	C	0.11%	0.06%	0.06%
ALSN	B	0.25%	0.25%	0.25%
AM	B	0.04%	0.15%	0.04%
AMC	C	0.02%	0.04%	0.02%
ANF	C	0.17%	0.15%	0.15%
AORT	C	0.1%	0.06%	0.06%
APAM	B	0.03%	0.1%	0.03%
APPF	B	0.04%	0.11%	0.04%
ARLO	C	0.02%	0.04%	0.02%
AROC	B	0.05%	0.09%	0.05%
ARQT	B	0.05%	0.05%	0.05%
ASPN	F	0.07%	0.03%	0.03%
ATGE	C	0.14%	0.05%	0.05%
ATI	F	0.18%	0.14%	0.14%
ATR	A	0.09%	0.25%	0.09%
AUR	D	0.15%	0.08%	0.08%
AVAV	C	0.18%	0.14%	0.14%
AWI	B	0.14%	0.23%	0.14%
AWR	C	0.02%	0.05%	0.02%
AXSM	B	0.13%	0.05%	0.05%
AXTA	A	0.09%	0.26%	0.09%
AYI	A	0.15%	0.33%	0.15%
AZEK	B	0.12%	0.13%	0.12%
AZTA	F	0.02%	0.08%	0.02%
AZZ	B	0.07%	0.07%	0.07%
BANC	B	0.05%	0.06%	0.05%
BCPC	B	0.08%	0.14%	0.08%
BDC	C	0.14%	0.2%	0.14%
BEAM	C	0.02%	0.05%	0.02%
BFAM	F	0.17%	0.23%	0.17%
BGC	C	0.09%	0.05%	0.05%
BKD	F	0.06%	0.04%	0.04%
BL	B	0.03%	0.07%	0.03%
BLD	F	0.15%	0.28%	0.15%
BLKB	C	0.08%	0.12%	0.08%
BMI	B	0.17%	0.29%	0.17%
BOOT	C	0.17%	0.06%	0.06%
BOX	A	0.13%	0.13%	0.13%
BPMC	C	0.09%	0.08%	0.08%
BRBR	A	0.14%	0.09%	0.09%
BRC	B	0.07%	0.09%	0.07%
BRKR	F	0.04%	0.15%	0.04%
BRX	A	0.08%	0.16%	0.08%
BWXT	B	0.14%	0.28%	0.14%
BXMT	D	0.02%	0.08%	0.02%
CACI	C	0.23%	0.25%	0.23%
CAKE	B	0.08%	0.06%	0.06%
CALM	B	0.11%	0.06%	0.06%
CASY	B	0.27%	0.52%	0.27%
CBSH	A	0.09%	0.21%	0.09%
CBT	C	0.17%	0.13%	0.13%
CBZ	B	0.03%	0.05%	0.03%
CCOI	C	0.11%	0.11%	0.11%
CDE	D	0.11%	0.05%	0.05%
CDP	C	0.05%	0.23%	0.05%
CFR	B	0.1%	0.09%	0.09%
CHDN	B	0.09%	0.14%	0.09%
CHE	D	0.04%	0.13%	0.04%
CHH	B	0.05%	0.06%	0.05%
CHWY	B	0.1%	0.07%	0.07%
CLB	C	0.03%	0.06%	0.03%
CLDX	F	0.02%	0.04%	0.02%
CLH	B	0.13%	0.06%	0.06%
CLSK	C	0.06%	0.04%	0.04%
CNK	B	0.14%	0.08%	0.08%
CNM	D	0.04%	0.24%	0.04%
COHR	C	0.25%	0.27%	0.25%
COKE	C	0.19%	0.06%	0.06%
CPK	A	0.05%	0.13%	0.05%
CPRX	C	0.11%	0.05%	0.05%
CRAI	C	0.11%	0.06%	0.06%
CRDO	C	0.19%	0.13%	0.13%
CRNX	B	0.05%	0.11%	0.05%
CROX	F	0.09%	0.16%	0.09%
CRS	B	0.23%	0.15%	0.15%
CRUS	F	0.1%	0.15%	0.1%
CRVL	B	0.18%	0.09%	0.09%
CTS	C	0.03%	0.07%	0.03%
CUBE	D	0.07%	0.21%	0.07%
CVLT	B	0.23%	0.21%	0.21%
CVNA	B	0.58%	0.48%	0.48%
CW	C	0.24%	0.24%	0.24%
CWAN	B	0.12%	0.05%	0.05%
CWT	D	0.07%	0.05%	0.05%
DBX	B	0.09%	0.16%	0.09%
DCI	A	0.04%	0.25%	0.04%
DNLI	C	0.05%	0.1%	0.05%
DOCN	C	0.07%	0.05%	0.05%
DOCS	B	0.12%	0.07%	0.07%
DTM	A	0.1%	0.27%	0.1%
DUOL	A	0.23%	0.18%	0.18%
DY	C	0.19%	0.1%	0.1%
EAT	B	0.17%	0.15%	0.15%
EGP	D	0.04%	0.21%	0.04%
EHC	B	0.18%	0.3%	0.18%
ELAN	C	0.04%	0.15%	0.04%
ENSG	C	0.21%	0.22%	0.21%
EPAC	B	0.06%	0.13%	0.06%
EPR	D	0.04%	0.06%	0.04%
EPRT	C	0.16%	0.18%	0.16%
ESE	B	0.08%	0.09%	0.08%
ESI	B	0.04%	0.14%	0.04%
ESRT	D	0.07%	0.07%	0.07%
EWBC	B	0.2%	0.39%	0.2%
EXLS	B	0.2%	0.23%	0.2%
EXP	B	0.18%	0.06%	0.06%
EXPO	D	0.07%	0.06%	0.06%
FBP	B	0.09%	0.19%	0.09%
FCN	F	0.07%	0.2%	0.07%
FFIN	B	0.18%	0.06%	0.06%
FIX	B	0.23%	0.37%	0.23%
FLS	B	0.14%	0.16%	0.14%
FND	F	0.07%	0.22%	0.07%
FOUR	B	0.23%	0.06%	0.06%
FR	D	0.04%	0.09%	0.04%
FRPT	B	0.19%	0.2%	0.19%
FSS	C	0.16%	0.14%	0.14%
FTDR	B	0.14%	0.22%	0.14%
GAP	B	0.08%	0.12%	0.08%
GATX	B	0.05%	0.17%	0.05%
GERN	F	0.09%	0.06%	0.06%
GH	B	0.05%	0.06%	0.05%
GKOS	B	0.09%	0.17%	0.09%
GME	C	0.08%	0.19%	0.08%
GMED	B	0.19%	0.1%	0.1%
GPK	D	0.08%	0.27%	0.08%
GTLS	B	0.05%	0.12%	0.05%
GVA	B	0.14%	0.08%	0.08%
GWRE	A	0.18%	0.43%	0.18%
HALO	C	0.17%	0.13%	0.13%
HASI	F	0.15%	0.13%	0.13%
HIMS	C	0.21%	0.07%	0.07%
HLIT	D	0.06%	0.05%	0.05%
HLX	C	0.04%	0.04%	0.04%
HNI	B	0.12%	0.15%	0.12%
HRB	D	0.16%	0.2%	0.16%
HURN	B	0.08%	0.06%	0.06%
HWKN	C	0.11%	0.06%	0.06%
IBKR	A	0.2%	0.29%	0.2%
IBOC	B	0.15%	0.06%	0.06%
IBP	F	0.15%	0.11%	0.11%
ICFI	C	0.07%	0.09%	0.07%
IDCC	B	0.15%	0.14%	0.14%
IESC	B	0.16%	0.07%	0.07%
INSM	C	0.12%	0.21%	0.12%
INSP	F	0.12%	0.1%	0.1%
INTA	B	0.12%	0.07%	0.07%
IRDM	B	0.02%	0.12%	0.02%
ITCI	B	0.1%	0.16%	0.1%
ITGR	B	0.17%	0.13%	0.13%
ITRI	B	0.24%	0.2%	0.2%
ITT	A	0.17%	0.28%	0.17%
JAMF	F	0.02%	0.05%	0.02%
JANX	C	0.11%	0.06%	0.06%
KD	A	0.05%	0.09%	0.05%
KNF	C	0.23%	0.13%	0.13%
KNSL	C	0.08%	0.18%	0.08%
KNTK	B	0.06%	0.16%	0.06%
KTB	A	0.22%	0.15%	0.15%
KTOS	B	0.07%	0.07%	0.07%
KYMR	C	0.13%	0.05%	0.05%
LCID	F	0.03%	0.06%	0.03%
LITE	B	0.08%	0.08%	0.08%
LNTH	F	0.17%	0.15%	0.15%
LNW	F	0.05%	0.2%	0.05%
LOPE	B	0.05%	0.05%	0.05%
LRN	B	0.14%	0.13%	0.13%
LYFT	B	0.06%	0.09%	0.06%
MAC	B	0.05%	0.08%	0.05%
MARA	B	0.05%	0.07%	0.05%
MASI	B	0.05%	0.06%	0.05%
MEDP	D	0.04%	0.15%	0.04%
MGNI	A	0.07%	0.04%	0.04%
MIR	B	0.03%	0.09%	0.03%
MLNK	C	0.03%	0.05%	0.03%
MMSI	B	0.17%	0.15%	0.15%
MNKD	C	0.11%	0.07%	0.07%
MOD	D	0.2%	0.15%	0.15%
MOG.A	B	0.23%	0.23%	0.23%
MORN	B	0.04%	0.18%	0.04%
MWA	B	0.11%	0.24%	0.11%
MYGN	F	0.05%	0.04%	0.04%
NBHC	B	0.11%	0.05%	0.05%
NCLH	B	0.16%	0.24%	0.16%
NEO	B	0.05%	0.05%	0.05%
NMIH	D	0.09%	0.09%	0.09%
NRIX	B	0.09%	0.06%	0.06%
NTNX	B	0.05%	0.34%	0.05%
NTRA	B	0.21%	0.26%	0.21%
NVAX	F	0.05%	0.03%	0.03%
NYT	C	0.12%	0.18%	0.12%
OHI	C	0.12%	0.2%	0.12%
OII	B	0.08%	0.06%	0.06%
OLLI	C	0.13%	0.12%	0.12%
ONB	B	0.14%	0.17%	0.14%
ORA	B	0.09%	0.11%	0.09%
OSCR	D	0.08%	0.05%	0.05%
OUT	B	0.09%	0.07%	0.07%
OWL	B	0.05%	0.06%	0.05%
PAR	B	0.03%	0.07%	0.03%
PAYO	B	0.17%	0.07%	0.07%
PBI	C	0.13%	0.05%	0.05%
PCTY	B	0.11%	0.2%	0.11%
PEGA	B	0.19%	0.1%	0.1%
PI	D	0.15%	0.08%	0.08%
PIPR	B	0.24%	0.07%	0.07%
PJT	B	0.14%	0.09%	0.09%
PLAY	C	0.03%	0.06%	0.03%
PLMR	A	0.1%	0.08%	0.08%
PLNT	A	0.14%	0.17%	0.14%
POWL	C	0.18%	0.1%	0.1%
PRCT	C	0.14%	0.1%	0.1%
PRGS	A	0.1%	0.23%	0.1%
PRI	B	0.14%	0.22%	0.14%
PRIM	B	0.16%	0.13%	0.13%
PSN	C	0.22%	0.12%	0.12%
PTCT	C	0.11%	0.06%	0.06%
PTGX	D	0.13%	0.06%	0.06%
QTWO	B	0.26%	0.11%	0.11%
RARE	F	0.11%	0.07%	0.07%
RDNT	B	0.21%	0.09%	0.09%
REVG	B	0.13%	0.05%	0.05%
RGLD	C	0.04%	0.32%	0.04%
RHP	B	0.09%	0.19%	0.09%
RKLB	B	0.16%	0.08%	0.08%
RL	B	0.19%	0.09%	0.09%
RLI	A	0.09%	0.19%	0.09%
RNA	B	0.13%	0.08%	0.08%
RNG	C	0.09%	0.06%	0.06%
ROIV	D	0.04%	0.06%	0.04%
RUN	F	0.11%	0.08%	0.08%
RVMD	C	0.11%	0.1%	0.1%
RXST	F	0.05%	0.05%	0.05%
RYAN	B	0.13%	0.14%	0.13%
S	B	0.14%	0.12%	0.12%
SATS	D	0.13%	0.06%	0.06%
SBRA	C	0.13%	0.08%	0.08%
SCI	B	0.14%	0.27%	0.14%
SFBS	B	0.24%	0.06%	0.06%
SFM	B	0.26%	0.43%	0.26%
SHAK	C	0.09%	0.09%	0.09%
SKT	A	0.05%	0.06%	0.05%
SLG	C	0.19%	0.11%	0.11%
SLVM	C	0.13%	0.06%	0.06%
SMPL	B	0.02%	0.05%	0.02%
SMTC	C	0.11%	0.06%	0.06%
SOFI	B	0.25%	0.18%	0.18%
SSD	F	0.04%	0.1%	0.04%
STRL	B	0.14%	0.11%	0.11%
SXT	B	0.05%	0.07%	0.05%
TBBK	B	0.12%	0.07%	0.07%
TGI	B	0.03%	0.05%	0.03%
TGTX	B	0.14%	0.05%	0.05%
THC	B	0.42%	0.25%	0.25%
TKO	D	0.16%	0.17%	0.16%
TMDX	F	0.09%	0.05%	0.05%
TNC	F	0.02%	0.05%	0.02%
TNDM	F	0.06%	0.05%	0.05%
TNL	A	0.06%	0.15%	0.06%
TRN	B	0.13%	0.09%	0.09%
TTEK	F	0.21%	0.2%	0.2%
TWST	F	0.07%	0.05%	0.05%
TXRH	A	0.18%	0.1%	0.1%
U	F	0.04%	0.1%	0.04%
UFPT	C	0.1%	0.06%	0.06%
VCTR	C	0.11%	0.07%	0.07%
VECO	F	0.02%	0.11%	0.02%
VERX	B	0.09%	0.06%	0.06%
VITL	F	0.09%	0.07%	0.07%
VRNS	C	0.12%	0.06%	0.06%
VRRM	D	0.07%	0.06%	0.06%
WDFC	B	0.05%	0.11%	0.05%
WEN	C	0.03%	0.1%	0.03%
WHD	B	0.14%	0.12%	0.12%
WING	D	0.1%	0.18%	0.1%
WRBY	A	0.06%	0.06%	0.06%
WT	B	0.08%	0.05%	0.05%
WTM	A	0.09%	0.13%	0.09%
WWD	B	0.13%	0.19%	0.13%
XPRO	F	0.02%	0.05%	0.02%
YELP	C	0.02%	0.05%	0.02%

FAD Overweight 345 Positions Relative to ESML

Symbol	Grade	Weight
APP	B	0.79%
PLTR	B	0.63%
TRGP	B	0.53%
RCL	A	0.52%
VRT	B	0.51%
DASH	A	0.5%
EME	B	0.49%
AXON	B	0.49%
GS	B	0.49%
EXPE	B	0.49%
VST	B	0.48%
KKR	B	0.48%
FICO	B	0.47%
UTHR	B	0.47%
GDDY	B	0.47%
WAB	B	0.46%
HWM	B	0.46%
URI	B	0.45%
PWR	B	0.45%
BK	B	0.45%
AXP	B	0.44%
NRG	C	0.44%
TT	B	0.43%
CPNG	B	0.43%
CCL	B	0.43%
BURL	C	0.42%
HOOD	B	0.42%
ALL	B	0.42%
VTR	C	0.42%
PGR	A	0.42%
HEI	A	0.41%
NVDA	A	0.41%
IRM	D	0.41%
FCNCA	B	0.4%
GRMN	A	0.4%
RBLX	B	0.4%
CEG	D	0.39%
FI	A	0.39%
AMP	A	0.39%
NTRS	A	0.39%
JPM	A	0.38%
TMUS	A	0.38%
ANET	C	0.38%
NOW	A	0.38%
LYV	A	0.38%
PH	A	0.37%
ORCL	A	0.37%
HCA	D	0.37%
TPL	B	0.37%
ACGL	C	0.37%
BRO	B	0.36%
AVGO	C	0.36%
CTAS	B	0.36%
GEN	B	0.36%
BAH	C	0.36%
PCG	A	0.35%
LII	B	0.35%
COST	B	0.35%
META	B	0.35%
BSX	A	0.35%
CAT	B	0.35%
MSI	B	0.35%
SHW	A	0.34%
RMD	C	0.34%
PM	B	0.34%
ERIE	F	0.33%
FSLR	F	0.33%
ALNY	D	0.33%
PEG	C	0.32%
GE	D	0.32%
IBM	D	0.32%
TDG	D	0.31%
APO	B	0.31%
TTD	B	0.3%
NEE	D	0.3%
BKNG	A	0.29%
GWW	B	0.28%
HUBB	C	0.27%
NFLX	A	0.27%
TYL	B	0.26%
AX	B	0.26%
ISRG	A	0.26%
WSO	B	0.26%
HLT	A	0.26%
WELL	B	0.26%
NDAQ	B	0.26%
DECK	B	0.26%
FTNT	B	0.26%
MANH	C	0.25%
LVS	C	0.25%
BR	A	0.25%
AJG	A	0.25%
SPGI	C	0.24%
SO	D	0.24%
ECL	C	0.24%
ZETA	F	0.24%
ICE	C	0.24%
UBER	F	0.24%
MCO	C	0.24%
COIN	B	0.24%
CORT	B	0.24%
TJX	A	0.24%
TSCO	D	0.24%
NTAP	D	0.24%
CSL	B	0.24%
BRK.A	B	0.24%
EXEL	B	0.23%
VLTO	D	0.23%
HLNE	B	0.23%
CSWI	B	0.23%
IOT	B	0.22%
PSA	D	0.22%
XYL	F	0.22%
EFX	F	0.22%
AMT	F	0.21%
LTH	D	0.21%
CL	F	0.21%
WMB	B	0.2%
CPAY	A	0.19%
ADSK	B	0.19%
MAR	A	0.19%
AMZN	A	0.19%
DVA	C	0.19%
PANW	B	0.19%
APH	B	0.19%
TSLA	B	0.19%
TOST	A	0.19%
TPG	B	0.19%
HLI	B	0.19%
DELL	C	0.19%
MO	A	0.18%
DOV	A	0.18%
IR	A	0.18%
ORLY	A	0.18%
IT	B	0.18%
BCO	F	0.18%
ARES	B	0.18%
ETN	B	0.18%
WULF	C	0.17%
AMGN	F	0.17%
AZO	B	0.17%
MMC	D	0.17%
KEX	A	0.17%
RSG	B	0.17%
PODD	B	0.17%
SPG	A	0.17%
VICI	D	0.16%
ROST	D	0.16%
ROAD	B	0.16%
MCD	C	0.16%
ROL	C	0.16%
OTIS	D	0.16%
CBOE	D	0.16%
AAPL	C	0.16%
RYTM	C	0.15%
KO	F	0.15%
O	D	0.15%
WWW	B	0.15%
RIVN	F	0.15%
LLY	F	0.15%
EXR	D	0.15%
DOCU	B	0.15%
STEP	B	0.14%
FFIV	B	0.14%
MCY	B	0.14%
TRUP	B	0.14%
SMG	D	0.14%
MPWR	F	0.14%
ENVA	B	0.14%
SGBX	F	0.14%
KAI	B	0.14%
QCRH	B	0.14%
WSM	F	0.14%
SKYW	B	0.13%
DT	C	0.13%
TW	B	0.13%
VCYT	B	0.13%
MSTR	B	0.13%
CNS	C	0.13%
HOMB	A	0.13%
USLM	B	0.13%
LMND	B	0.12%
GSHD	B	0.12%
DKS	D	0.12%
PTON	C	0.12%
ALLE	D	0.12%
ASTH	F	0.12%
CHEF	B	0.12%
NHC	B	0.12%
AMRX	B	0.12%
PRM	C	0.12%
DSGR	B	0.12%
LPLA	A	0.11%
PRK	B	0.11%
OSW	B	0.11%
SYBT	B	0.11%
SKWD	A	0.11%
DORM	B	0.11%
WYNN	C	0.11%
CENX	B	0.1%
BCRX	D	0.1%
CRWD	B	0.1%
TGLS	B	0.1%
MIRM	B	0.1%
MTCH	F	0.1%
YOU	D	0.1%
ESAB	B	0.1%
LMAT	B	0.1%
LFST	B	0.1%
MA	B	0.09%
CIFR	C	0.09%
COLL	F	0.09%
WDAY	B	0.09%
EEFT	C	0.09%
MBIN	D	0.09%
WM	A	0.09%
SEMR	F	0.09%
WAT	B	0.09%
VRTX	B	0.09%
CWST	B	0.09%
MKTX	C	0.09%
GOOGL	C	0.09%
PAYX	B	0.09%
GPN	B	0.09%
MU	D	0.09%
AON	B	0.09%
ADP	A	0.09%
WTTR	B	0.09%
DLR	C	0.09%
MSGS	B	0.09%
SABR	B	0.09%
IOVA	D	0.09%
SITM	B	0.09%
CRM	B	0.09%
FAST	B	0.09%
SBAC	D	0.08%
KMB	D	0.08%
UE	B	0.08%
A	F	0.08%
CHCO	B	0.08%
MTD	F	0.08%
PG	C	0.08%
CARG	B	0.08%
NPAB	F	0.08%
GLPI	D	0.08%
CPT	C	0.08%
LIN	D	0.08%
BANF	B	0.08%
MSCI	B	0.08%
GABC	A	0.08%
CHD	A	0.08%
DKNG	B	0.08%
ESS	C	0.08%
BLBD	F	0.08%
CTRE	C	0.08%
CMG	B	0.08%
AVB	B	0.08%
IRT	A	0.08%
EVH	F	0.08%
QCOM	F	0.08%
HRMY	D	0.08%
EQIX	B	0.08%
SYK	A	0.08%
LAMR	D	0.08%
APOG	B	0.08%
AES	F	0.08%
KRG	B	0.08%
REG	A	0.08%
MKL	A	0.08%
ITW	B	0.08%
PMT	D	0.07%
NHI	D	0.07%
AMPH	C	0.07%
GFF	B	0.07%
OSIS	B	0.07%
AOS	F	0.07%
CCI	F	0.07%
KLAC	F	0.07%
ZTS	D	0.07%
BLFS	C	0.07%
KN	B	0.07%
IAS	D	0.06%
PAYC	B	0.06%
HEES	B	0.06%
IIPR	F	0.06%
CEIX	B	0.06%
OCUL	C	0.06%
LGND	C	0.06%
FLNC	C	0.06%
NSA	D	0.06%
AESI	F	0.05%
FCPT	C	0.05%
GTX	D	0.05%
ALX	D	0.05%
AIV	D	0.05%
UMH	C	0.05%
GOLF	B	0.05%
HUMA	F	0.05%
SCS	B	0.05%
ANIP	C	0.05%
CMPR	C	0.05%
ELME	D	0.05%
GTY	C	0.05%
TRMB	B	0.05%
NXRT	B	0.05%
KW	C	0.05%
JJSF	C	0.05%
SWI	B	0.05%
MGEE	B	0.05%
LKFN	B	0.05%
AGM	B	0.05%
SXI	B	0.05%
DAY	B	0.05%
DRVN	A	0.05%
NNN	F	0.04%
TDW	F	0.04%
TECH	D	0.04%
UDR	C	0.04%
IPAR	B	0.04%
H	B	0.04%
NEU	C	0.04%
MAIN	A	0.04%
CDRE	F	0.04%
PHR	D	0.04%
RBC	B	0.04%
ARDX	F	0.04%
ACAD	C	0.03%
WABC	B	0.03%
APPN	C	0.03%
SOUN	B	0.03%
LPG	D	0.02%
RLAY	F	0.02%
JOE	F	0.02%
NSSC	F	0.02%
GNL	F	0.02%
ENVX	F	0.02%
THR	C	0.02%
TR	B	0.02%
FBRT	C	0.02%
RRR	F	0.02%
FOLD	F	0.02%
PZZA	D	0.02%
LTC	B	0.02%
STRA	C	0.02%
CARS	B	0.02%

FAD Underweight 609 Positions Relative to ESML

Symbol	Grade	Weight
JHG	A	-0.49%
USFD	B	-0.48%
INGR	B	-0.45%
KBR	D	-0.41%
JLL	C	-0.38%
FTI	B	-0.34%
FLEX	B	-0.33%
MUSA	B	-0.33%
REXR	F	-0.33%
FRT	B	-0.32%
XPO	B	-0.32%
OGS	B	-0.31%
RGA	A	-0.29%
OSK	B	-0.29%
SUM	B	-0.28%
SNV	B	-0.28%
R	B	-0.28%
GBCI	B	-0.28%
AVT	C	-0.28%
CNX	B	-0.27%
BJ	B	-0.27%
PNFP	B	-0.27%
SAIA	B	-0.27%
SIGI	B	-0.27%
TOL	B	-0.27%
SSB	B	-0.26%
WMS	F	-0.26%
RNR	D	-0.26%
HRI	C	-0.25%
UGI	D	-0.25%
UMBF	B	-0.25%
IVZ	B	-0.25%
PCVX	D	-0.25%
TPR	A	-0.25%
WBS	A	-0.24%
ARMK	B	-0.24%
RRC	B	-0.24%
WEX	D	-0.24%
ONTO	F	-0.23%
UNM	A	-0.23%
MTG	C	-0.23%
KBH	D	-0.22%
FTAI	B	-0.22%
GNRC	B	-0.22%
WCC	B	-0.22%
ALK	A	-0.22%
CUZ	B	-0.22%
AA	C	-0.21%
HAS	D	-0.21%
FHN	A	-0.21%
WAL	B	-0.21%
SRPT	F	-0.21%
NFG	D	-0.21%
ZWS	B	-0.21%
HHH	B	-0.21%
CMC	B	-0.21%
LAD	B	-0.21%
LSTR	B	-0.21%
FELE	B	-0.21%
NJR	A	-0.21%
MTN	C	-0.2%
LECO	C	-0.2%
VFC	C	-0.2%
HOG	D	-0.2%
AR	B	-0.2%
RHI	B	-0.2%
WTS	B	-0.2%
CNO	B	-0.19%
WK	B	-0.19%
SNDR	B	-0.19%
BHLB	B	-0.19%
REZI	A	-0.19%
NVT	C	-0.19%
ENLC	A	-0.19%
WHR	B	-0.19%
AVA	C	-0.19%
WSC	F	-0.19%
DAR	B	-0.19%
NOVT	C	-0.19%
CMA	A	-0.19%
CR	B	-0.19%
OMF	A	-0.19%
PR	C	-0.18%
PCH	F	-0.18%
TMHC	B	-0.18%
MTZ	B	-0.18%
MTH	D	-0.18%
BWA	B	-0.18%
GPI	B	-0.18%
CIEN	B	-0.18%
AMG	B	-0.18%
ZION	B	-0.18%
AXS	A	-0.18%
TGNA	B	-0.18%
RGEN	C	-0.17%
VVV	B	-0.17%
BERY	D	-0.17%
AEIS	B	-0.17%
LPX	A	-0.17%
FMC	F	-0.17%
LUMN	C	-0.17%
THG	A	-0.17%
MSA	D	-0.17%
SITE	D	-0.17%
PLXS	C	-0.17%
SPXC	B	-0.17%
MDU	D	-0.17%
PEN	C	-0.17%
VOYA	B	-0.16%
WFRD	F	-0.16%
SPSC	F	-0.16%
FAF	C	-0.16%
UBSI	B	-0.16%
LSCC	D	-0.16%
FN	C	-0.16%
CHX	C	-0.16%
BANR	B	-0.16%
SF	A	-0.16%
BHE	C	-0.16%
ESTC	C	-0.16%
GXO	B	-0.16%
PVH	C	-0.16%
LAZ	C	-0.16%
DLB	D	-0.16%
PCOR	B	-0.16%
BCC	B	-0.16%
ASB	B	-0.16%
ALTR	C	-0.15%
CZR	F	-0.15%
GTLB	B	-0.15%
JXN	C	-0.15%
NOV	C	-0.15%
ASGN	D	-0.15%
MYRG	B	-0.15%
JAZZ	B	-0.15%
X	D	-0.15%
SLM	A	-0.15%
VNT	C	-0.15%
HQY	B	-0.15%
RRX	B	-0.15%
SR	C	-0.14%
VKTX	F	-0.14%
ECG	D	-0.14%
RMBS	C	-0.14%
ACA	B	-0.14%
KLIC	C	-0.14%
CFLT	B	-0.14%
PINC	B	-0.14%
WH	A	-0.14%
HXL	F	-0.14%
VLY	B	-0.14%
LFUS	D	-0.14%
MAT	C	-0.14%
FIBK	B	-0.14%
TPH	C	-0.14%
SMAR	A	-0.14%
HIW	D	-0.14%
NSIT	F	-0.14%
PDCO	F	-0.14%
THO	B	-0.13%
CAVA	C	-0.13%
ORI	A	-0.13%
CABO	B	-0.13%
MUR	D	-0.13%
M	C	-0.13%
IBCP	B	-0.13%
HESM	C	-0.13%
CYTK	C	-0.13%
SWX	B	-0.13%
OZK	B	-0.13%
MKSI	C	-0.13%
CPF	B	-0.13%
VMI	B	-0.13%
BECN	B	-0.13%
CADE	B	-0.13%
TPX	B	-0.13%
AGCO	F	-0.13%
FYBR	D	-0.13%
NXT	C	-0.12%
SON	F	-0.12%
ABG	B	-0.12%
YETI	D	-0.12%
WGO	B	-0.12%
XENE	C	-0.12%
SHOO	D	-0.12%
ELF	C	-0.12%
MTX	B	-0.12%
WERN	B	-0.12%
GL	B	-0.12%
LBRDA	C	-0.12%
NPO	B	-0.12%
COLB	A	-0.12%
ADT	C	-0.12%
DXC	B	-0.11%
CGNX	C	-0.11%
ACHC	F	-0.11%
HAE	B	-0.11%
TRNO	F	-0.11%
PFSI	D	-0.11%
ETSY	D	-0.11%
LEA	F	-0.11%
PATH	C	-0.11%
EVR	B	-0.11%
LCII	D	-0.11%
BHVN	C	-0.11%
KOS	D	-0.11%
KRC	C	-0.11%
ALTM	C	-0.11%
FULT	B	-0.11%
ECPG	C	-0.11%
FLR	C	-0.11%
DFIN	D	-0.11%
FIVE	F	-0.11%
IMAX	B	-0.1%
TDC	F	-0.1%
JEF	B	-0.1%
NXST	C	-0.1%
ZI	C	-0.1%
VC	F	-0.1%
CSGS	B	-0.1%
MRCY	B	-0.1%
SJW	F	-0.1%
NWL	B	-0.1%
CRC	B	-0.1%
AL	B	-0.1%
AMAL	B	-0.1%
SCL	C	-0.1%
KAR	B	-0.1%
FA	D	-0.1%
ERII	B	-0.1%
AUB	A	-0.1%
SIG	B	-0.1%
BILL	B	-0.1%
ABCB	B	-0.1%
RXO	C	-0.1%
HCP	A	-0.1%
CVBF	B	-0.1%
ALKS	C	-0.1%
DRS	C	-0.1%
FUL	F	-0.1%
RDUS	D	-0.1%
STWD	C	-0.1%
EFSC	B	-0.1%
OLED	F	-0.09%
HR	C	-0.09%
RDN	C	-0.09%
CRSP	D	-0.09%
KFY	B	-0.09%
EWTX	C	-0.09%
UNIT	C	-0.09%
ABM	B	-0.09%
AEO	F	-0.09%
MGRC	B	-0.09%
VNO	C	-0.09%
CURB	C	-0.09%
LNC	B	-0.09%
SLAB	F	-0.09%
ARW	F	-0.09%
POST	D	-0.09%
OPCH	F	-0.09%
AMED	F	-0.09%
CAC	B	-0.09%
ATKR	C	-0.09%
OGN	F	-0.09%
DV	C	-0.09%
TENB	C	-0.09%
UNFI	B	-0.08%
BC	D	-0.08%
TILE	B	-0.08%
CWK	C	-0.08%
PRKS	B	-0.08%
BWIN	D	-0.08%
EVRI	A	-0.08%
SPB	A	-0.08%
TDS	C	-0.08%
ST	F	-0.08%
ALG	B	-0.08%
ENOV	C	-0.08%
ICUI	D	-0.08%
BOH	B	-0.08%
NTGR	B	-0.08%
STC	C	-0.08%
RNST	B	-0.08%
SNX	C	-0.08%
TEX	D	-0.08%
LBPH	A	-0.08%
TARS	C	-0.08%
LNN	B	-0.08%
HWC	B	-0.08%
MTSI	B	-0.08%
JBT	B	-0.08%
CART	C	-0.07%
XRAY	F	-0.07%
MAN	F	-0.07%
CLF	F	-0.07%
VNOM	C	-0.07%
WTFC	B	-0.07%
W	F	-0.07%
CCS	F	-0.07%
SG	C	-0.07%
UPST	B	-0.07%
KREF	D	-0.07%
AVNT	B	-0.07%
UEC	C	-0.07%
PRGO	C	-0.07%
MRUS	C	-0.07%
CALX	F	-0.07%
RH	C	-0.07%
WD	D	-0.07%
NARI	C	-0.07%
COLD	F	-0.07%
HBI	B	-0.07%
ESNT	D	-0.07%
PHAT	F	-0.07%
PDM	D	-0.07%
HAIN	F	-0.07%
GT	C	-0.07%
GTES	B	-0.07%
PLUS	F	-0.07%
COLM	B	-0.07%
COMP	B	-0.07%
CCCS	B	-0.07%
ENR	A	-0.07%
PECO	B	-0.07%
EYE	C	-0.07%
VRDN	C	-0.07%
XHR	B	-0.07%
VAC	B	-0.07%
AMN	F	-0.07%
SONO	C	-0.07%
BDN	D	-0.07%
SEE	C	-0.07%
TNET	C	-0.07%
LBRDK	C	-0.07%
ROG	D	-0.07%
SASR	A	-0.07%
TREX	C	-0.07%
SEM	C	-0.07%
DEA	D	-0.07%
WU	F	-0.07%
ZD	B	-0.07%
MHK	D	-0.07%
VSEC	B	-0.07%
IOSP	B	-0.07%
INDB	B	-0.07%
CWEN	D	-0.07%
CLVT	F	-0.07%
PRVA	B	-0.07%
AN	C	-0.07%
NWN	B	-0.07%
KOP	C	-0.07%
PLYA	B	-0.07%
ATRC	C	-0.07%
VVX	C	-0.07%
AMWD	B	-0.07%
BPOP	C	-0.07%
RBBN	B	-0.06%
VBTX	B	-0.06%
CWEN	D	-0.06%
CIVI	D	-0.06%
ANDE	D	-0.06%
CC	C	-0.06%
PLUG	D	-0.06%
VERA	B	-0.06%
PPBI	B	-0.06%
MHO	D	-0.06%
APGE	C	-0.06%
SPR	F	-0.06%
NUVL	D	-0.06%
ROCK	C	-0.06%
OMCL	C	-0.06%
RUSHB	B	-0.06%
SM	C	-0.06%
PYCR	B	-0.06%
JWN	B	-0.06%
MOV	C	-0.06%
VVI	B	-0.06%
IART	C	-0.06%
FIVN	C	-0.06%
FROG	C	-0.06%
LXP	D	-0.06%
EWCZ	D	-0.06%
HI	C	-0.06%
KVYO	C	-0.06%
LEG	F	-0.06%
FUN	B	-0.06%
TALO	C	-0.06%
PNTG	D	-0.06%
ELVN	C	-0.06%
BYD	A	-0.06%
PAHC	B	-0.06%
VREX	C	-0.06%
TDOC	C	-0.06%
CBU	B	-0.06%
PEB	F	-0.06%
APG	C	-0.06%
HELE	C	-0.06%
MODG	F	-0.06%
PK	C	-0.06%
EE	B	-0.06%
POWI	D	-0.06%
HGV	B	-0.06%
MBUU	C	-0.06%
MDGL	C	-0.06%
AVPT	B	-0.06%
IRON	C	-0.06%
RCM	B	-0.06%
JBGS	F	-0.06%
FL	F	-0.06%
UPBD	B	-0.06%
KROS	C	-0.06%
IDYA	F	-0.06%
VSCO	B	-0.06%
CMP	C	-0.06%
HAFC	B	-0.06%
KE	C	-0.06%
GBX	A	-0.06%
ENV	B	-0.06%
ZYME	B	-0.06%
CLNE	C	-0.06%
NVST	C	-0.06%
ALEC	D	-0.05%
HZO	F	-0.05%
KLG	F	-0.05%
MLTX	B	-0.05%
IMVT	D	-0.05%
PFS	B	-0.05%
ZEUS	C	-0.05%
FLO	F	-0.05%
INVX	C	-0.05%
ASAN	C	-0.05%
PLOW	C	-0.05%
CUBI	B	-0.05%
DNOW	B	-0.05%
WOLF	F	-0.05%
ARCB	C	-0.05%
MMS	F	-0.05%
LESL	D	-0.05%
LGF.A	D	-0.05%
WNC	C	-0.05%
BBIO	F	-0.05%
BE	B	-0.05%
DLX	B	-0.05%
AHH	D	-0.05%
NEP	F	-0.05%
ACEL	B	-0.05%
EPC	F	-0.05%
RAMP	C	-0.05%
GRBK	D	-0.05%
ASH	F	-0.05%
CAR	C	-0.05%
VSTS	D	-0.05%
AMBC	C	-0.05%
NEOG	D	-0.05%
COGT	D	-0.05%
DGII	B	-0.05%
FLGT	F	-0.05%
FFBC	B	-0.05%
FLG	D	-0.05%
THRM	F	-0.05%
MRC	B	-0.05%
ICHR	C	-0.05%
KELYA	F	-0.05%
FRSH	B	-0.05%
BNL	D	-0.05%
SIBN	D	-0.05%
NABL	F	-0.05%
SNDX	D	-0.05%
ASTE	B	-0.05%
MNRO	B	-0.05%
KMPR	A	-0.05%
PSMT	D	-0.05%
LEVI	F	-0.05%
HL	D	-0.05%
VYX	B	-0.05%
INFA	F	-0.05%
MTTR	B	-0.05%
ETNB	C	-0.05%
IONS	F	-0.05%
AVDX	B	-0.05%
UAA	B	-0.05%
WKC	C	-0.05%
THS	F	-0.05%
SHC	D	-0.05%
MXL	C	-0.05%
PGRE	C	-0.05%
KSS	D	-0.05%
ARVN	D	-0.05%
RYN	F	-0.05%
TROX	F	-0.05%
PLRX	D	-0.05%
FLYW	B	-0.05%
ARKO	D	-0.05%
ESTA	D	-0.05%
AI	C	-0.05%
PDFS	C	-0.05%
SBH	A	-0.05%
SKY	B	-0.05%
GEF	B	-0.05%
CNMD	C	-0.05%
MMI	B	-0.05%
EDR	B	-0.05%
LIVN	C	-0.05%
GEF	B	-0.05%
NCNO	B	-0.05%
SMP	B	-0.05%
PRG	B	-0.05%
VRTS	B	-0.05%
SLNO	C	-0.05%
BROS	B	-0.05%
DCO	B	-0.05%
VRNT	D	-0.05%
ATEN	A	-0.05%
PRO	C	-0.05%
INFN	D	-0.05%
CMCO	C	-0.05%
EMBC	C	-0.05%
MTRN	B	-0.05%
ARWR	C	-0.05%
AAP	C	-0.05%
AIR	B	-0.05%
GOGO	C	-0.05%
ZUO	B	-0.05%
PBF	F	-0.05%
COOP	B	-0.05%
PRAA	C	-0.05%
AGO	B	-0.05%
NBTB	B	-0.05%
MPW	F	-0.05%
RUSHA	B	-0.05%
CSTL	C	-0.05%
BKU	A	-0.05%
HAYW	B	-0.05%
HCC	C	-0.05%
RKT	F	-0.05%
PD	C	-0.05%
ETWO	F	-0.04%
OMI	F	-0.04%
CAL	D	-0.04%
TXG	F	-0.04%
FNA	B	-0.04%
DK	D	-0.04%
FORM	F	-0.04%
CXM	C	-0.04%
SAVA	D	-0.04%
SVRA	F	-0.04%
NUVB	B	-0.04%
MEG	F	-0.04%
SPT	C	-0.04%
CCRN	F	-0.04%
HOUS	F	-0.04%
STAA	F	-0.04%
XRX	F	-0.04%
FOXF	F	-0.04%
CRI	D	-0.04%
UCB	B	-0.04%
BRZE	C	-0.04%
SWTX	C	-0.04%
NTLA	F	-0.04%
EGY	F	-0.04%
ARCT	F	-0.04%
MLKN	D	-0.04%
RCUS	F	-0.04%
KURA	F	-0.04%
PRTA	F	-0.04%
BRY	F	-0.04%
CLW	F	-0.04%
DYN	D	-0.04%
PTEN	C	-0.04%
FTRE	D	-0.04%
HPP	F	-0.04%
COUR	F	-0.04%
RCKT	F	-0.04%
QS	F	-0.04%
MTUS	D	-0.04%
GO	C	-0.04%
MEI	F	-0.04%
CECO	C	-0.04%
CGEM	F	-0.04%
TMCI	C	-0.04%
BASE	C	-0.04%
PENN	B	-0.04%
AXL	C	-0.04%
GPRE	F	-0.04%
IVR	D	-0.04%
KRYS	C	-0.04%
PGNY	F	-0.04%
NVCR	D	-0.04%
XPEL	B	-0.04%
ALRM	C	-0.04%
QDEL	F	-0.04%
RXRX	C	-0.04%
ANAB	F	-0.03%
AGL	F	-0.03%
VSAT	F	-0.03%
MQ	F	-0.03%
SITC	F	-0.03%
CRMT	F	-0.03%
CNXC	F	-0.03%
CDNA	D	-0.03%
SEDG	F	-0.03%
APLS	F	-0.03%
CPRI	F	-0.03%
JELD	F	-0.03%
NOVA	F	-0.03%
MAGN	F	-0.02%
MC	B	-0.02%
DEI	B	-0.02%
GDOT	C	-0.01%