FESM vs. RFLR ETF Comparison

Comparison of Fidelity Enhanced Small Cap ETF (FESM) to Innovator U.S. Small Cap Power Buffer ETF - September Innovator U.S. Small Cap Managed Floor ETF (RFLR)

FESM

Fidelity Enhanced Small Cap ETF

FESM Description

The fund will normally invest at least 80% of assets in common stocks included in the Russell 2000® Index, which is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. The adviser will generally use computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the index. It will invest in domestic and foreign issuers.

Grade (RS Rating)

Last Trade

$34.59

Average Daily Volume

123,580

Number of Holdings ^*

562

* may have additional holdings in another (foreign) market

RFLR

Innovator U.S. Small Cap Power Buffer ETF - September Innovator U.S. Small Cap Managed Floor ETF

RFLR Description

The fund will invest at least 80% of its net assets (including borrowings for investment purposes) in equity securities of U.S. small capitalization companies and option contracts that give economic exposure to equity securities of U.S. small capitalization companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$26.77

Average Daily Volume

5,770

Number of Holdings ^*

1095

* may have additional holdings in another (foreign) market

Performance

Period	FESM	RFLR
30 Days	7.42%	4.28%
60 Days	7.32%	5.22%
90 Days	8.30%
12 Months	39.28%

346 Overlapping Holdings

Symbol	Grade	Weight in FESM	Weight in RFLR	Overlap
ABCB	B	0.36%	0.18%	0.18%
ABM	B	0.32%	0.14%	0.14%
ABSI	F	0.05%	0.02%	0.02%
ACA	A	0.37%	0.2%	0.2%
ACAD	C	0.11%	0.12%	0.11%
ACIW	B	0.05%	0.16%	0.05%
ACLX	C	0.03%	0.18%	0.03%
ADMA	B	0.11%	0.01%	0.01%
ADUS	D	0.1%	0.1%	0.1%
AEO	F	0.5%	0.08%	0.08%
AGIO	C	0.14%	0.1%	0.1%
AGS	A	0.09%	0.03%	0.03%
AIR	B	0.49%	0.12%	0.12%
AKBA	C	0.08%	0.02%	0.02%
AKRO	B	0.06%	0.09%	0.06%
ALE	A	0.1%	0.2%	0.1%
ALRM	C	0.16%	0.1%	0.1%
ALTR	B	0.1%	0.24%	0.1%
ALX	D	0.04%	0.04%	0.04%
AMBA	B	0.09%	0.11%	0.09%
AMPH	F	0.1%	0.06%	0.06%
AMRX	C	0.12%	0.06%	0.06%
AMSC	B	0.12%	0.08%	0.08%
ANGO	C	0.02%	0.03%	0.02%
ANIP	F	0.08%	0.05%	0.05%
AORT	B	0.22%	0.05%	0.05%
AOSL	C	0.04%	0.04%	0.04%
APOG	C	0.38%	0.04%	0.04%
APPN	B	0.06%	0.08%	0.06%
ARAY	C	0.08%	0.02%	0.02%
ARLO	C	0.17%	0.05%	0.05%
AROC	A	0.39%	0.09%	0.09%
ARRY	F	0.03%	0.03%	0.03%
ARVN	F	0.06%	0.08%	0.06%
ARWR	D	0.05%	0.15%	0.05%
ATRC	C	0.13%	0.09%	0.09%
AUB	B	0.1%	0.15%	0.1%
AUR	C	0.09%	0.19%	0.09%
AVD	C	0.06%	0.04%	0.04%
AVNS	F	0.18%	0.04%	0.04%
AWR	B	0.3%	0.13%	0.13%
AX	B	0.29%	0.2%	0.2%
AXGN	C	0.21%	0.04%	0.04%
AXNX	A	0.03%	0.16%	0.03%
AXSM	B	0.07%	0.18%	0.07%
BAND	B	0.36%	0.03%	0.03%
BANF	B	0.43%	0.12%	0.12%
BASE	B	0.04%	0.03%	0.03%
BCC	B	0.16%	0.15%	0.15%
BCO	F	0.24%	0.03%	0.03%
BCPC	B	0.09%	0.22%	0.09%
BCRX	D	0.1%	0.08%	0.08%
BDC	C	0.29%	0.22%	0.22%
BECN	B	0.03%	0.23%	0.03%
BGC	C	0.66%	0.16%	0.16%
BGS	F	0.06%	0.03%	0.03%
BHE	C	0.41%	0.11%	0.11%
BKD	F	0.06%	0.05%	0.05%
BL	B	0.2%	0.14%	0.14%
BLKB	B	0.07%	0.15%	0.07%
BMI	B	0.4%	0.1%	0.1%
BOH	B	0.16%	0.14%	0.14%
BOOT	C	0.05%	0.22%	0.05%
BRSP	C	0.04%	0.04%	0.04%
BSIG	A	0.07%	0.05%	0.05%
BVS	D	0.18%	0.02%	0.02%
CALM	A	0.22%	0.12%	0.12%
CATY	B	0.08%	0.02%	0.02%
CCBG	B	0.01%	0.06%	0.01%
CDE	C	0.07%	0.07%	0.07%
CDP	C	0.25%	0.13%	0.13%
CDXS	B	0.06%	0.03%	0.03%
CECO	B	0.35%	0.06%	0.06%
CEIX	A	0.25%	0.24%	0.24%
CHGG	C	0.03%	0.02%	0.02%
CMPR	D	0.39%	0.09%	0.09%
CNK	C	0.14%	0.14%	0.14%
CNO	B	0.27%	0.19%	0.19%
CNXN	C	0.18%	0.04%	0.04%
COGT	D	0.05%	0.04%	0.04%
COMM	D	0.22%	0.04%	0.04%
CORT	B	0.23%	0.22%	0.22%
COUR	F	0.04%	0.07%	0.04%
CPRX	C	0.14%	0.1%	0.1%
CPS	C	0.15%	0.03%	0.03%
CRAI	C	0.22%	0.05%	0.05%
CRBU	D	0.02%	0.02%	0.02%
CRC	A	0.22%	0.3%	0.22%
CRGY	B	0.58%	0.07%	0.07%
CRNX	C	0.13%	0.17%	0.13%
CRVL	B	0.04%	0.13%	0.04%
CSGS	B	0.59%	0.03%	0.03%
CSR	B	0.03%	0.04%	0.03%
CSWI	B	0.17%	0.34%	0.17%
CTBI	B	0.07%	0.07%	0.07%
CTKB	C	0.07%	0.03%	0.03%
CTRE	C	0.2%	0.23%	0.2%
CVBF	A	0.05%	0.14%	0.05%
CWT	C	0.2%	0.11%	0.11%
CXM	C	0.04%	0.05%	0.04%
DAKT	C	0.05%	0.03%	0.03%
DCO	C	0.17%	0.05%	0.05%
DIOD	D	0.1%	0.12%	0.1%
DNLI	D	0.07%	0.21%	0.07%
DSGN	C	0.05%	0.02%	0.02%
DVAX	C	0.02%	0.09%	0.02%
DY	D	0.15%	0.24%	0.15%
EAT	A	0.11%	0.2%	0.11%
EBS	C	0.09%	0.03%	0.03%
EDIT	F	0.03%	0.02%	0.02%
EE	A	0.05%	0.04%	0.04%
EGHT	B	0.29%	0.03%	0.03%
ENS	F	0.61%	0.18%	0.18%
ENTA	F	0.03%	0.02%	0.02%
EOLS	D	0.06%	0.04%	0.04%
EPAC	C	0.23%	0.13%	0.13%
EQC	B	0.31%	0.1%	0.1%
ESRT	C	0.34%	0.1%	0.1%
ETD	C	0.14%	0.04%	0.04%
ETNB	C	0.05%	0.06%	0.05%
EWTX	C	0.16%	0.09%	0.09%
EZPW	B	0.23%	0.04%	0.04%
FBP	C	0.28%	0.29%	0.28%
FDP	B	0.08%	0.05%	0.05%
FFBC	B	0.1%	0.09%	0.09%
FHI	B	0.5%	0.14%	0.14%
FIZZ	C	0.03%	0.05%	0.03%
FLNC	D	0.17%	0.07%	0.07%
FLYW	B	0.05%	0.05%	0.05%
FNKO	D	0.03%	0.01%	0.01%
FOLD	F	0.14%	0.12%	0.12%
FORM	D	0.12%	0.08%	0.08%
FSS	B	0.08%	0.14%	0.08%
FTDR	B	0.08%	0.17%	0.08%
FUL	F	0.52%	0.14%	0.14%
FULT	A	0.19%	0.15%	0.15%
GATX	A	0.01%	0.14%	0.01%
GCI	D	0.03%	0.02%	0.02%
GEO	B	0.22%	0.18%	0.18%
GERN	D	0.04%	0.11%	0.04%
GHC	B	0.14%	0.09%	0.09%
GIII	D	0.03%	0.08%	0.03%
GNW	A	0.33%	0.07%	0.07%
GT	C	0.39%	0.11%	0.11%
HAE	C	0.14%	0.26%	0.14%
HBI	B	0.07%	0.08%	0.07%
HCI	C	0.11%	0.04%	0.04%
HIMS	B	0.03%	0.14%	0.03%
HL	D	0.19%	0.17%	0.17%
HLIT	D	0.09%	0.06%	0.06%
HNI	B	0.2%	0.09%	0.09%
HNST	A	0.03%	0.04%	0.03%
HROW	D	0.03%	0.08%	0.03%
HRTX	F	0.04%	0.01%	0.01%
HSTM	B	0.2%	0.08%	0.08%
HUMA	F	0.03%	0.03%	0.03%
HURN	C	0.21%	0.11%	0.11%
HWC	B	0.22%	0.2%	0.2%
HWKN	B	0.53%	0.06%	0.06%
HY	D	0.18%	0.03%	0.03%
IART	C	0.06%	0.1%	0.06%
ICFI	F	0.04%	0.09%	0.04%
IDT	B	0.03%	0.05%	0.03%
IMVT	F	0.01%	0.1%	0.01%
INDB	B	0.1%	0.14%	0.1%
INO	F	0.01%	0.02%	0.01%
INTA	B	0.17%	0.16%	0.16%
IOVA	F	0.04%	0.09%	0.04%
IRWD	F	0.07%	0.03%	0.03%
ITRI	C	0.47%	0.15%	0.15%
JAMF	F	0.07%	0.04%	0.04%
JXN	C	0.64%	0.31%	0.31%
KALV	F	0.04%	0.02%	0.02%
KAR	B	0.31%	0.12%	0.12%
KE	C	0.07%	0.04%	0.04%
KNF	B	0.13%	0.22%	0.13%
KREF	C	0.12%	0.04%	0.04%
KRYS	C	0.11%	0.16%	0.11%
KTB	B	0.08%	0.14%	0.08%
KTOS	B	0.31%	0.1%	0.1%
KYMR	D	0.03%	0.06%	0.03%
LADR	B	0.1%	0.06%	0.06%
LGF.A	C	0.07%	0.03%	0.03%
LGF.A	C	0.05%	0.06%	0.05%
LGF.A	C	0.07%	0.06%	0.06%
LGF.A	C	0.05%	0.03%	0.03%
LGND	C	0.09%	0.09%	0.09%
LKFN	C	0.52%	0.11%	0.11%
LMB	B	0.17%	0.04%	0.04%
LMND	B	0.51%	0.11%	0.11%
LUNR	B	0.07%	0.02%	0.02%
LYTS	B	0.11%	0.04%	0.04%
MAC	B	0.22%	0.21%	0.21%
MATX	C	0.32%	0.31%	0.31%
MBWM	B	0.03%	0.06%	0.03%
MCB	B	0.02%	0.02%	0.02%
MCY	A	0.03%	0.1%	0.03%
MDGL	B	0.15%	0.23%	0.15%
MDXG	B	0.02%	0.05%	0.02%
MGNX	F	0.04%	0.02%	0.02%
MHO	D	0.59%	0.22%	0.22%
MLNK	C	0.05%	0.04%	0.04%
MOG.A	B	0.25%	0.16%	0.16%
MQ	D	0.02%	0.07%	0.02%
MRC	B	0.08%	0.04%	0.04%
MRSN	D	0.02%	0.02%	0.02%
MRTN	D	0.23%	0.1%	0.1%
MSBI	B	0.04%	0.06%	0.04%
MTRN	C	0.08%	0.1%	0.08%
MTX	B	0.56%	0.12%	0.12%
MWA	B	0.6%	0.12%	0.12%
MXL	C	0.48%	0.03%	0.03%
NABL	F	0.06%	0.04%	0.04%
NARI	C	0.03%	0.07%	0.03%
NBR	C	0.24%	0.03%	0.03%
NBTB	B	0.07%	0.12%	0.07%
NKTR	F	0.02%	0.02%	0.02%
NMIH	C	0.33%	0.16%	0.16%
NPAB	F	0.04%	0.12%	0.04%
NPK	B	0.03%	0.05%	0.03%
NRIX	C	0.14%	0.03%	0.03%
NSSC	D	0.04%	0.08%	0.04%
NXRT	B	0.04%	0.06%	0.04%
ODP	F	0.09%	0.06%	0.06%
OFG	B	0.15%	0.18%	0.15%
ONTF	C	0.02%	0.04%	0.02%
OPY	B	0.05%	0.06%	0.05%
OTTR	C	0.11%	0.15%	0.11%
OUT	A	0.53%	0.14%	0.14%
PACB	F	0.08%	0.02%	0.02%
PAYO	A	0.65%	0.08%	0.08%
PBH	A	0.21%	0.18%	0.18%
PBI	B	0.19%	0.07%	0.07%
PCRX	C	0.08%	0.04%	0.04%
PD	C	0.18%	0.09%	0.09%
PDCO	F	0.02%	0.09%	0.02%
PDFS	C	0.24%	0.03%	0.03%
PECO	A	0.34%	0.23%	0.23%
PFS	B	0.31%	0.13%	0.13%
PGEN	F	0.02%	0.02%	0.02%
PJT	A	0.18%	0.17%	0.17%
PL	B	0.07%	0.03%	0.03%
PLAB	C	0.22%	0.08%	0.08%
PLXS	B	0.23%	0.17%	0.17%
PRGS	A	0.26%	0.12%	0.12%
PRK	B	0.17%	0.13%	0.13%
PRLB	B	0.08%	0.05%	0.05%
PRO	C	0.18%	0.04%	0.04%
PTCT	B	0.17%	0.15%	0.15%
PTGX	D	0.08%	0.12%	0.08%
QTWO	A	0.8%	0.25%	0.25%
RAMP	B	0.02%	0.09%	0.02%
REPL	D	0.07%	0.02%	0.02%
REZI	A	0.46%	0.19%	0.19%
RM	C	0.06%	0.04%	0.04%
RNA	C	0.21%	0.16%	0.16%
RNST	B	0.22%	0.1%	0.1%
RUSHA	C	0.08%	0.17%	0.08%
RVNC	F	0.06%	0.03%	0.03%
RXO	D	0.06%	0.13%	0.06%
RXRX	F	0.09%	0.08%	0.08%
RYTM	C	0.16%	0.17%	0.16%
SAGE	F	0.05%	0.02%	0.02%
SAH	C	0.15%	0.05%	0.05%
SANA	F	0.03%	0.02%	0.02%
SANM	B	0.39%	0.18%	0.18%
SBH	C	0.18%	0.11%	0.11%
SCS	C	0.08%	0.05%	0.05%
SEM	B	0.07%	0.2%	0.07%
SFBS	C	0.18%	0.22%	0.18%
SFL	D	0.02%	0.18%	0.02%
SHAK	C	0.23%	0.19%	0.19%
SJW	F	0.21%	0.05%	0.05%
SKT	A	0.11%	0.22%	0.11%
SKYW	C	0.69%	0.18%	0.18%
SLG	B	0.13%	0.24%	0.13%
SLVM	B	0.18%	0.15%	0.15%
SMTC	B	0.19%	0.14%	0.14%
SNDX	F	0.06%	0.11%	0.06%
SNEX	B	0.25%	0.1%	0.1%
SPCE	D	0.01%	0.02%	0.01%
SPNS	F	0.02%	0.03%	0.02%
SPOK	B	0.02%	0.02%	0.02%
SPT	C	0.08%	0.09%	0.08%
SRRK	C	0.13%	0.07%	0.07%
STBA	B	0.03%	0.07%	0.03%
STEP	C	0.32%	0.15%	0.15%
STRO	F	0.05%	0.01%	0.01%
SUPN	C	0.02%	0.09%	0.02%
SXC	A	0.28%	0.06%	0.06%
SXT	C	0.32%	0.13%	0.13%
TCBK	C	0.02%	0.07%	0.02%
TCMD	B	0.08%	0.07%	0.07%
TDOC	C	0.08%	0.1%	0.08%
TDS	B	0.17%	0.12%	0.12%
TEX	F	0.34%	0.16%	0.16%
TGTX	B	0.09%	0.16%	0.09%
THR	B	0.07%	0.08%	0.07%
TILE	B	0.22%	0.06%	0.06%
TMCI	C	0.05%	0.06%	0.05%
TNYA	D	0.02%	0.02%	0.02%
TPH	D	0.34%	0.18%	0.18%
TREE	F	0.06%	0.04%	0.04%
TRN	B	0.26%	0.11%	0.11%
TRTX	C	0.15%	0.03%	0.03%
TRUP	B	0.12%	0.08%	0.08%
TSE	F	0.02%	0.01%	0.01%
TSHA	C	0.06%	0.01%	0.01%
TSVT	F	0.04%	0.01%	0.01%
TVTX	C	0.16%	0.07%	0.07%
TWST	F	0.14%	0.09%	0.09%
UCB	A	0.14%	0.16%	0.14%
UCTT	D	0.37%	0.06%	0.06%
UEC	B	0.06%	0.14%	0.06%
UMBF	B	0.34%	0.21%	0.21%
UNIT	B	0.11%	0.07%	0.07%
URGN	F	0.01%	0.02%	0.01%
USLM	A	0.03%	0.06%	0.03%
UVE	B	0.04%	0.04%	0.04%
VCEL	B	0.03%	0.13%	0.03%
VCYT	B	0.15%	0.15%	0.15%
VERA	C	0.02%	0.09%	0.02%
VICR	C	0.35%	0.05%	0.05%
VMEO	B	0.51%	0.07%	0.07%
VNDA	C	0.05%	0.03%	0.03%
VRE	B	0.18%	0.05%	0.05%
VREX	B	0.29%	0.07%	0.07%
VSCO	C	0.03%	0.11%	0.03%
VTOL	B	0.1%	0.03%	0.03%
WABC	B	0.21%	0.07%	0.07%
WEAV	C	0.07%	0.03%	0.03%
WK	B	0.28%	0.22%	0.22%
WMK	C	0.07%	0.05%	0.05%
WS	C	0.13%	0.06%	0.06%
WSBC	B	0.15%	0.15%	0.15%
WT	A	0.51%	0.05%	0.05%
XBIT	F	0.01%	0.01%	0.01%
XNCR	B	0.02%	0.04%	0.02%
XRX	F	0.18%	0.06%	0.06%
YELP	C	0.58%	0.08%	0.08%
YEXT	B	0.28%	0.03%	0.03%
YMAB	F	0.03%	0.01%	0.01%
YOU	D	0.32%	0.11%	0.11%
ZIP	D	0.05%	0.03%	0.03%
ZNTL	F	0.04%	0.03%	0.03%
ZUO	B	0.2%	0.04%	0.04%

FESM Overweight 218 Positions Relative to RFLR

Symbol	Grade	Weight
SFM	A	0.97%
LUMN	C	0.86%
CRS	B	0.81%
CVLT	B	0.77%
ANF	F	0.74%
FN	C	0.74%
SPSC	D	0.72%
COMP	B	0.58%
IBP	D	0.57%
NWBI	B	0.57%
QLYS	B	0.56%
EME	A	0.55%
CVNA	B	0.55%
FIX	A	0.55%
EXLS	B	0.54%
PRG	C	0.54%
MTDR	B	0.51%
UPBD	B	0.5%
FLR	B	0.5%
IGT	F	0.49%
AIT	B	0.47%
TMHC	C	0.47%
LANC	C	0.45%
SIGI	C	0.44%
CODI	B	0.44%
INSM	C	0.42%
MMSI	A	0.4%
WTS	B	0.39%
CBU	B	0.37%
AAT	B	0.36%
CRDO	B	0.36%
PCVX	D	0.36%
TENB	C	0.36%
GH	B	0.35%
CNMD	C	0.35%
FFIN	B	0.35%
BBSI	B	0.33%
SF	B	0.32%
ATI	C	0.32%
COKE	C	0.32%
SWX	B	0.31%
NJR	A	0.3%
MTH	D	0.3%
WOOF	D	0.3%
GFF	A	0.3%
PHR	F	0.29%
TRNO	F	0.28%
LNW	F	0.28%
RVMD	C	0.26%
PLPC	B	0.25%
HP	C	0.25%
HQY	A	0.24%
PSN	D	0.24%
CPF	B	0.23%
BUSE	B	0.23%
HLX	B	0.23%
ROCK	C	0.21%
HALO	F	0.21%
OI	C	0.21%
AXL	C	0.21%
ALKS	C	0.21%
KBH	D	0.2%
TNC	D	0.19%
MUR	D	0.19%
UBSI	B	0.19%
RMBS	B	0.19%
CADE	B	0.18%
FRME	B	0.18%
IRTC	C	0.17%
EXPI	D	0.16%
DXPE	C	0.16%
BPMC	B	0.16%
CYTK	F	0.16%
DOMO	B	0.15%
STNG	F	0.15%
NFBK	C	0.15%
AMSF	B	0.15%
OPCH	D	0.14%
WKC	C	0.14%
FLXS	B	0.14%
VRTS	B	0.14%
WSR	A	0.13%
EXTR	C	0.13%
SRCE	B	0.13%
BRC	D	0.12%
ZEUS	C	0.12%
DK	C	0.12%
REPX	A	0.12%
CHX	C	0.11%
HCAT	D	0.11%
DYN	F	0.11%
CDNA	D	0.11%
TRUE	C	0.1%
OSCR	D	0.1%
NGVC	A	0.1%
GKOS	B	0.1%
GMRE	F	0.1%
KURA	F	0.1%
RDFN	D	0.1%
VBTX	B	0.09%
ADPT	C	0.09%
AMAL	B	0.09%
MYGN	F	0.09%
ARQT	B	0.09%
BSRR	B	0.08%
SGMO	C	0.08%
CDMO	A	0.08%
DEA	D	0.08%
EGP	D	0.08%
LTH	C	0.08%
AIN	C	0.08%
URBN	C	0.08%
WVE	C	0.08%
SSTK	F	0.08%
LNTH	D	0.07%
LIVN	F	0.07%
NVAX	F	0.07%
ORIC	F	0.07%
KOD	B	0.07%
HRTG	C	0.07%
FISI	B	0.07%
PGC	B	0.07%
MYE	F	0.07%
OPEN	F	0.07%
NUVB	C	0.07%
ATNI	F	0.07%
MEDP	D	0.07%
WSBF	C	0.07%
COLL	F	0.07%
BBIO	F	0.07%
ANNX	F	0.06%
ERAS	C	0.06%
ARCT	F	0.06%
CMC	B	0.06%
CCCC	F	0.06%
HURC	B	0.06%
GIC	D	0.06%
CLDX	F	0.06%
CERS	D	0.06%
QTRX	F	0.06%
FBK	C	0.06%
ALLK	D	0.05%
OABI	F	0.05%
PAHC	C	0.05%
ATRO	D	0.05%
ORGO	B	0.05%
UHT	D	0.05%
OIS	B	0.05%
BY	B	0.05%
SNBR	F	0.05%
ONTO	F	0.05%
MCRI	A	0.05%
LPSN	F	0.04%
BLBD	D	0.04%
BDTX	F	0.04%
TNDM	D	0.04%
TERN	F	0.04%
NUVL	C	0.04%
VYGR	F	0.04%
IDYA	F	0.04%
TXRH	B	0.04%
PRTS	C	0.03%
ANIK	D	0.03%
ACET	F	0.03%
RMAX	C	0.03%
SHEN	F	0.03%
CWCO	C	0.03%
RLMD	F	0.03%
BEAM	D	0.03%
ENSG	C	0.03%
STNE	F	0.03%
MED	D	0.03%
RLAY	F	0.03%
RCKT	F	0.03%
ASC	F	0.03%
UVSP	B	0.03%
UFPI	C	0.03%
ETWO	F	0.03%
BHLB	B	0.03%
LMAT	A	0.03%
GRC	A	0.03%
FATE	F	0.03%
RCKY	F	0.02%
EB	C	0.02%
UPLD	B	0.02%
DIN	C	0.02%
CTMX	F	0.02%
NTLA	F	0.02%
ZIMV	D	0.02%
TNET	F	0.02%
ABUS	D	0.02%
SVRA	F	0.02%
JBSS	F	0.02%
PRAA	D	0.02%
GPRE	F	0.02%
FCF	B	0.02%
DOC	C	0.02%
SWTX	C	0.02%
ALHC	C	0.02%
NKTX	F	0.02%
ALEC	F	0.02%
ALT	C	0.02%
KPTI	D	0.02%
PBYI	C	0.02%
FSTR	B	0.02%
PKE	B	0.02%
BOLT	F	0.01%
CARA	D	0.01%
WFRD	D	0.01%
ALVR	F	0.01%
NOVA	F	0.01%
ZDGE	F	0.01%
FGEN	D	0.01%
CHRS	D	0.01%
AVTE	D	0.01%
SMMT	D	0.01%
ADAP	F	0.01%
RIG	D	0.01%

FESM Underweight 751 Positions Relative to RFLR

Symbol	Grade	Weight
EPRT	B	-0.34%
GPI	B	-0.33%
MC	C	-0.33%
CNX	A	-0.31%
KAI	B	-0.3%
KFY	B	-0.3%
PIPR	A	-0.29%
RDNT	B	-0.29%
HLNE	B	-0.29%
OLLI	D	-0.28%
KD	B	-0.28%
ITGR	B	-0.28%
FOUR	A	-0.28%
CBT	D	-0.28%
APPF	B	-0.27%
STRL	A	-0.26%
AWI	A	-0.26%
HRI	C	-0.25%
COLB	B	-0.25%
MARA	B	-0.25%
AVAV	C	-0.25%
COOP	B	-0.24%
BOX	B	-0.24%
TPG	A	-0.24%
QXO	D	-0.24%
AVNT	B	-0.24%
RDN	D	-0.24%
IESC	C	-0.23%
NVST	B	-0.23%
GMS	B	-0.23%
SR	A	-0.23%
UPST	B	-0.23%
RKLB	A	-0.23%
BKH	A	-0.22%
AEIS	C	-0.22%
OGS	A	-0.22%
ASB	B	-0.21%
ICUI	D	-0.21%
HCP	B	-0.21%
LOPE	C	-0.21%
AGO	B	-0.2%
GVA	A	-0.2%
LEVI	F	-0.2%
BROS	A	-0.2%
LXP	D	-0.2%
AVT	C	-0.19%
SBRA	C	-0.19%
FHB	B	-0.19%
KMPR	A	-0.19%
GTES	A	-0.19%
WTM	A	-0.18%
KLIC	B	-0.18%
LRN	A	-0.18%
CCOI	B	-0.18%
BFH	C	-0.18%
R	B	-0.18%
IDCC	B	-0.18%
OII	B	-0.18%
ALIT	C	-0.18%
CWAN	B	-0.18%
RDDT	A	-0.18%
PK	C	-0.17%
PNM	B	-0.17%
ENOV	C	-0.17%
UE	B	-0.17%
SMPL	B	-0.17%
DOCS	C	-0.17%
ESGR	B	-0.17%
TNL	A	-0.17%
PRIM	A	-0.17%
CBZ	B	-0.16%
LITE	B	-0.16%
NWL	C	-0.16%
ROIC	A	-0.16%
SYNA	C	-0.16%
WD	D	-0.16%
MOD	A	-0.16%
GPOR	B	-0.16%
SITM	B	-0.16%
CCS	D	-0.16%
KMT	B	-0.16%
HCC	B	-0.16%
TCBI	C	-0.16%
EBC	B	-0.16%
SPR	D	-0.16%
ABR	C	-0.15%
POWL	C	-0.15%
KFRC	D	-0.15%
ABG	C	-0.15%
IBOC	B	-0.15%
LCII	C	-0.15%
PEGA	B	-0.15%
FIVN	C	-0.15%
NCNO	C	-0.15%
HUBG	A	-0.15%
ESE	B	-0.15%
LAUR	A	-0.15%
ROAD	B	-0.15%
RRR	F	-0.15%
RIOT	C	-0.15%
HASI	D	-0.15%
WDFC	B	-0.15%
WSFS	B	-0.15%
MGEE	B	-0.15%
PENN	C	-0.15%
SLAB	F	-0.15%
MSGS	A	-0.14%
ATGE	B	-0.14%
SFNC	C	-0.14%
MGRC	B	-0.14%
GRBK	D	-0.14%
CLSK	C	-0.14%
STC	B	-0.14%
BHF	C	-0.14%
AI	B	-0.14%
SGBX	F	-0.14%
CVCO	A	-0.14%
ARCH	B	-0.14%
TGNA	B	-0.14%
ARI	C	-0.14%
UAA	C	-0.14%
JBT	B	-0.13%
HTLF	B	-0.13%
SMG	C	-0.13%
IIPR	D	-0.13%
PPBI	C	-0.13%
CPA	D	-0.13%
HIW	C	-0.13%
VIRT	A	-0.13%
ARCB	C	-0.13%
DEI	B	-0.13%
MIR	A	-0.13%
IOSP	C	-0.13%
SPB	C	-0.13%
FCPT	C	-0.13%
MRCY	C	-0.13%
AVA	A	-0.13%
NMRK	C	-0.13%
FIBK	B	-0.13%
AMED	F	-0.13%
ALG	B	-0.13%
FROG	C	-0.13%
KSS	F	-0.13%
BKU	A	-0.13%
BNL	D	-0.13%
APAM	B	-0.13%
KWR	C	-0.12%
VCTR	B	-0.12%
JBLU	F	-0.12%
PLUS	F	-0.12%
IBTX	B	-0.12%
BANC	B	-0.12%
FA	C	-0.12%
OMCL	C	-0.12%
RNG	C	-0.12%
RPD	B	-0.12%
HI	C	-0.12%
ENR	B	-0.12%
SYBT	B	-0.12%
AKR	B	-0.12%
SBCF	B	-0.12%
SHO	D	-0.12%
UNF	B	-0.12%
NGVT	B	-0.12%
PCH	F	-0.12%
NVGS	D	-0.12%
AGYS	A	-0.12%
CAKE	C	-0.12%
FRSH	B	-0.12%
SAM	C	-0.12%
CXW	C	-0.12%
PTON	A	-0.12%
CNS	B	-0.12%
WAFD	B	-0.12%
DORM	B	-0.12%
EPR	C	-0.12%
WHD	B	-0.12%
MYRG	B	-0.11%
CALX	D	-0.11%
UMH	B	-0.11%
TTMI	C	-0.11%
VSH	F	-0.11%
FBNC	B	-0.11%
PARR	F	-0.11%
CARG	B	-0.11%
SIG	B	-0.11%
PSMT	D	-0.11%
DRH	B	-0.11%
ENVA	B	-0.11%
GSHD	A	-0.11%
MNKD	C	-0.11%
GLNG	C	-0.11%
PRVA	C	-0.11%
EVTC	B	-0.11%
JWN	D	-0.11%
AGM	B	-0.11%
TDC	D	-0.11%
VC	F	-0.11%
WTTR	A	-0.11%
VAC	C	-0.11%
SGRY	F	-0.11%
MIRM	B	-0.11%
FELE	B	-0.11%
JJSF	C	-0.11%
DV	C	-0.11%
NX	C	-0.1%
PHIN	A	-0.1%
STAA	F	-0.1%
BXC	B	-0.1%
PEB	D	-0.1%
NHC	C	-0.1%
RC	D	-0.1%
WINA	C	-0.1%
VIAV	C	-0.1%
VSEC	C	-0.1%
IMKTA	C	-0.1%
KN	B	-0.1%
NOG	B	-0.1%
NNI	D	-0.1%
CMCO	C	-0.1%
SHC	F	-0.1%
DOCN	C	-0.1%
GBX	A	-0.1%
NTB	B	-0.1%
ADNT	F	-0.1%
BXMT	C	-0.1%
CWEN	C	-0.1%
IPAR	B	-0.1%
LGIH	F	-0.1%
GOLF	B	-0.1%
BKE	B	-0.1%
PRCT	B	-0.09%
GO	C	-0.09%
PRDO	B	-0.09%
WRBY	A	-0.09%
ENV	B	-0.09%
QS	F	-0.09%
DNOW	B	-0.09%
KROS	D	-0.09%
LBPH	A	-0.09%
AIV	C	-0.09%
DFIN	D	-0.09%
PLUG	F	-0.09%
ELME	D	-0.09%
STRA	C	-0.09%
HLIO	B	-0.09%
FRHC	B	-0.09%
PAR	A	-0.09%
PI	D	-0.09%
MP	C	-0.09%
NWE	B	-0.09%
GSAT	C	-0.09%
IPGP	D	-0.09%
WERN	C	-0.09%
LZB	B	-0.09%
CXT	C	-0.09%
APLE	B	-0.09%
CABO	B	-0.09%
VSTO	A	-0.09%
VERX	A	-0.09%
PZZA	F	-0.09%
UA	C	-0.09%
BTU	B	-0.09%
VRDN	D	-0.08%
SONO	C	-0.08%
GOGO	C	-0.08%
USPH	B	-0.08%
RVLV	A	-0.08%
HEES	C	-0.08%
SOUN	B	-0.08%
XMTR	B	-0.08%
ROG	D	-0.08%
REVG	C	-0.08%
HAYW	B	-0.08%
PATK	C	-0.08%
TALO	C	-0.08%
HELE	C	-0.08%
SXI	B	-0.08%
MODG	F	-0.08%
OKLO	B	-0.08%
OEC	C	-0.08%
SHOO	F	-0.08%
FOXF	F	-0.08%
CRK	B	-0.08%
VSTS	C	-0.08%
PRM	C	-0.08%
SMR	B	-0.08%
CC	C	-0.08%
CUBI	B	-0.08%
REX	D	-0.08%
PNTG	D	-0.07%
INDI	C	-0.07%
UNTY	B	-0.07%
CHEF	A	-0.07%
CVI	F	-0.07%
SKY	A	-0.07%
CAL	F	-0.07%
PCT	C	-0.07%
TARS	C	-0.07%
NIC	B	-0.07%
TMP	B	-0.07%
ZETA	D	-0.07%
EPC	F	-0.07%
BE	B	-0.07%
CLNE	F	-0.07%
AGX	B	-0.07%
ALGT	B	-0.07%
TRIP	F	-0.07%
AMR	C	-0.07%
EYE	C	-0.07%
HMN	B	-0.07%
CGON	F	-0.07%
BLFS	C	-0.07%
AVXL	B	-0.07%
JANX	C	-0.07%
GENI	C	-0.07%
B	A	-0.07%
UPWK	B	-0.07%
AHCO	F	-0.06%
IVT	A	-0.06%
XHR	B	-0.06%
CERT	F	-0.06%
HTBK	B	-0.06%
IRON	B	-0.06%
PFIS	A	-0.06%
KOS	D	-0.06%
OSW	B	-0.06%
CBL	B	-0.06%
FCBC	C	-0.06%
BCML	B	-0.06%
AMC	C	-0.06%
GASS	D	-0.06%
TRST	B	-0.06%
EBTC	C	-0.06%
SPFI	C	-0.06%
TRS	B	-0.06%
MCBS	B	-0.06%
EEX	C	-0.06%
TPB	B	-0.06%
DFH	D	-0.06%
CMRE	C	-0.06%
EFC	C	-0.06%
ACT	C	-0.06%
DAWN	D	-0.06%
CRMT	D	-0.06%
AAOI	B	-0.06%
SHBI	B	-0.06%
BLMN	F	-0.06%
WTBA	B	-0.06%
SATS	D	-0.06%
AHH	D	-0.06%
WWW	A	-0.06%
OBK	C	-0.06%
EVRI	A	-0.06%
SABR	C	-0.06%
RBCAA	B	-0.06%
SAFT	B	-0.06%
PLRX	D	-0.06%
SBSI	C	-0.06%
OCUL	D	-0.06%
LEU	C	-0.06%
SMBK	B	-0.06%
CASH	B	-0.06%
TRMK	C	-0.06%
NTST	C	-0.06%
CNOB	B	-0.06%
KLG	B	-0.06%
AMRC	F	-0.06%
IRMD	C	-0.06%
SEMR	C	-0.06%
CAC	C	-0.06%
XPEL	B	-0.06%
CIVB	B	-0.06%
GES	F	-0.06%
WASH	C	-0.06%
BMRC	B	-0.06%
SNDR	B	-0.06%
NEXT	C	-0.06%
TPC	C	-0.06%
DBRG	F	-0.06%
HFWA	C	-0.06%
ALEX	B	-0.06%
PFC	B	-0.06%
ARDX	F	-0.06%
TGLS	B	-0.05%
FWRD	D	-0.05%
TROX	D	-0.05%
SPRY	C	-0.05%
MD	C	-0.05%
MNRO	D	-0.05%
INOD	B	-0.05%
CNNE	B	-0.05%
WULF	C	-0.05%
SFST	B	-0.05%
KRNY	C	-0.05%
UFCS	A	-0.05%
BLX	B	-0.05%
PINE	C	-0.05%
SCSC	C	-0.05%
ASTE	C	-0.05%
SNCY	C	-0.05%
FFIC	B	-0.05%
MLR	C	-0.05%
MSEX	C	-0.05%
NAVI	F	-0.05%
ULH	C	-0.05%
PSTL	D	-0.05%
FREY	B	-0.05%
CFFN	C	-0.05%
ATSG	B	-0.05%
LNN	B	-0.05%
SCL	C	-0.05%
CLB	B	-0.05%
VTLE	C	-0.05%
FRBA	D	-0.05%
FWRG	C	-0.05%
USCB	B	-0.05%
NVEE	F	-0.05%
DRVN	B	-0.05%
SPNT	B	-0.05%
DLX	B	-0.05%
DGICA	A	-0.05%
CIFR	C	-0.05%
FSLY	D	-0.05%
BFS	C	-0.05%
ACCO	C	-0.05%
ECVT	C	-0.05%
NVRO	F	-0.05%
OLP	B	-0.05%
ANET	C	-0.05%
HSII	B	-0.05%
LC	A	-0.05%
CZNC	C	-0.05%
GNTY	A	-0.05%
ACHR	B	-0.05%
CTO	B	-0.05%
ALRS	D	-0.05%
TSBK	A	-0.05%
ASAN	B	-0.05%
CBRL	C	-0.05%
OLO	A	-0.05%
FNLC	C	-0.05%
CLOV	D	-0.05%
BWB	B	-0.05%
RLJ	C	-0.05%
CAR	C	-0.05%
ATEN	A	-0.05%
VVI	C	-0.05%
MSGE	F	-0.05%
CBAN	B	-0.05%
AMWD	C	-0.05%
EGBN	B	-0.05%
PCB	B	-0.05%
CTLP	B	-0.05%
CBNK	B	-0.05%
NWN	A	-0.05%
RBB	B	-0.05%
CTS	C	-0.05%
SD	D	-0.05%
NBN	C	-0.05%
HBCP	C	-0.05%
GSBC	C	-0.05%
FBIZ	B	-0.05%
RCUS	F	-0.05%
UNFI	A	-0.05%
JBI	F	-0.05%
DCOM	B	-0.05%
MOFG	B	-0.05%
NTCT	C	-0.05%
IMXI	B	-0.04%
BH	B	-0.04%
ASTH	F	-0.04%
TTGT	B	-0.04%
DBI	F	-0.04%
MBIN	F	-0.04%
PRTH	B	-0.04%
BOC	C	-0.04%
TYRA	F	-0.04%
BCBP	B	-0.04%
TWI	F	-0.04%
CSTL	D	-0.04%
SB	F	-0.04%
TTI	B	-0.04%
BKSY	B	-0.04%
VEL	A	-0.04%
MCW	C	-0.04%
FORR	C	-0.04%
SAVA	C	-0.04%
SBT	C	-0.04%
SWBI	C	-0.04%
PRCH	B	-0.04%
GLDD	B	-0.04%
FIGS	F	-0.04%
UTI	B	-0.04%
DGII	C	-0.04%
RYI	C	-0.04%
RBBN	C	-0.04%
AVO	C	-0.04%
GDYN	B	-0.04%
KALU	C	-0.04%
GTX	C	-0.04%
BLND	A	-0.04%
CHCT	C	-0.04%
PPTA	C	-0.04%
BMBL	C	-0.04%
HTZ	C	-0.04%
ENVX	F	-0.04%
GDEN	B	-0.04%
CENX	B	-0.04%
KOP	C	-0.04%
DX	B	-0.04%
LESL	D	-0.04%
DOLE	D	-0.04%
PRA	C	-0.04%
LAND	F	-0.04%
PGRE	F	-0.04%
TRNS	D	-0.04%
CARE	C	-0.04%
HAYN	A	-0.04%
PLTK	B	-0.04%
PYCR	B	-0.04%
HGTY	B	-0.04%
KW	C	-0.04%
PUMP	C	-0.04%
FPI	B	-0.04%
UTZ	D	-0.04%
AMTB	B	-0.04%
JACK	C	-0.04%
APLT	C	-0.04%
BZH	C	-0.04%
CGEM	F	-0.04%
WOLF	F	-0.04%
PDM	D	-0.04%
AROW	B	-0.04%
BV	C	-0.04%
CDXC	B	-0.04%
APLD	B	-0.04%
INVA	D	-0.04%
TRC	F	-0.04%
ECPG	C	-0.04%
COHU	C	-0.04%
PAY	A	-0.04%
IBUY	B	-0.04%
RBRK	A	-0.04%
BJRI	C	-0.04%
PCYO	A	-0.04%
XOMA	C	-0.03%
NPCE	C	-0.03%
RDUS	B	-0.03%
CCO	C	-0.03%
CDRE	F	-0.03%
EAF	C	-0.03%
BYND	F	-0.03%
LILAK	D	-0.03%
ATUS	B	-0.03%
LQDA	F	-0.03%
OM	D	-0.03%
BALY	B	-0.03%
LWLG	D	-0.03%
TRDA	C	-0.03%
GEVO	D	-0.03%
XERS	C	-0.03%
RES	D	-0.03%
DAN	D	-0.03%
ERII	D	-0.03%
PFMT	F	-0.03%
VOR	D	-0.03%
AIOT	B	-0.03%
RXST	F	-0.03%
NNBR	C	-0.03%
CCSI	C	-0.03%
ZUMZ	B	-0.03%
GATO	C	-0.03%
ODC	B	-0.03%
HNRG	B	-0.03%
OZ	C	-0.03%
LFST	B	-0.03%
NAPA	A	-0.03%
CATO	D	-0.03%
MTRX	B	-0.03%
CVGW	D	-0.03%
ONEW	F	-0.03%
DC	D	-0.03%
NRDS	C	-0.03%
PTLO	F	-0.03%
BTBT	C	-0.03%
ASIX	B	-0.03%
USM	B	-0.03%
AMCX	C	-0.03%
LOVE	A	-0.03%
KRUS	B	-0.03%
ESEA	D	-0.03%
WRLD	C	-0.03%
GTN	F	-0.03%
FFWM	C	-0.03%
GDOT	D	-0.03%
OSUR	F	-0.03%
FOR	F	-0.03%
BBW	C	-0.03%
AMPS	C	-0.03%
NINE	C	-0.03%
METC	C	-0.03%
FLGT	F	-0.03%
QNST	B	-0.03%
MNMD	C	-0.03%
CDZI	C	-0.03%
DCGO	B	-0.03%
EXFY	A	-0.03%
RPAY	D	-0.03%
IAS	C	-0.03%
OMER	A	-0.03%
MEI	F	-0.03%
LIND	C	-0.03%
BIGC	B	-0.03%
MITK	C	-0.03%
OFIX	C	-0.03%
SHYF	C	-0.03%
PTVE	B	-0.03%
VZIO	A	-0.03%
SPTN	D	-0.03%
WLDN	C	-0.03%
CVEO	F	-0.03%
COFS	A	-0.03%
IE	C	-0.03%
ACDC	B	-0.03%
MGNI	B	-0.03%
PUBM	C	-0.03%
GWRS	B	-0.03%
SMTI	B	-0.03%
CRMD	C	-0.03%
FET	F	-0.03%
VIR	D	-0.03%
SLP	D	-0.03%
OLMA	F	-0.03%
ACTG	D	-0.03%
PLOW	D	-0.03%
MBUU	B	-0.03%
ALKT	B	-0.03%
HVT	D	-0.03%
ASRT	D	-0.02%
BLNK	F	-0.02%
LWAY	C	-0.02%
AQST	D	-0.02%
KFS	B	-0.02%
GBLI	C	-0.02%
STTK	F	-0.02%
FULC	F	-0.02%
VRRM	F	-0.02%
IRBT	F	-0.02%
VITL	D	-0.02%
SERA	F	-0.02%
ANGI	F	-0.02%
ACMR	D	-0.02%
MODV	C	-0.02%
NDLS	F	-0.02%
RYAM	C	-0.02%
REAL	B	-0.02%
OPRX	F	-0.02%
OLPX	D	-0.02%
HAIN	D	-0.02%
ESPR	B	-0.02%
AEHR	F	-0.02%
MEC	F	-0.02%
SCPH	F	-0.02%
EYPT	D	-0.02%
LRMR	D	-0.02%
PLCE	C	-0.02%
DDD	C	-0.02%
BRCC	F	-0.02%
SWIM	C	-0.02%
RZLT	C	-0.02%
MVIS	F	-0.02%
CRCT	F	-0.02%
ELVN	D	-0.02%
OBIO	C	-0.02%
GLSI	F	-0.02%
UONE	F	-0.02%
UIS	B	-0.02%
ACRV	F	-0.02%
RSI	A	-0.02%
SENS	F	-0.02%
LXRX	F	-0.02%
ARKO	C	-0.02%
OUST	C	-0.02%
ALLO	F	-0.02%
GSL	F	-0.02%
SLDP	F	-0.02%
ACIC	B	-0.02%
KOPN	C	-0.02%
TLYS	F	-0.02%
PHAT	F	-0.02%
CEVA	B	-0.02%
MUX	D	-0.02%
PSTX	D	-0.02%
LFMD	D	-0.02%
NVRI	D	-0.02%
CLFD	F	-0.02%
VERV	F	-0.02%
PACK	B	-0.02%
INNV	F	-0.02%
AEYE	C	-0.02%
IHRT	B	-0.02%
CELC	F	-0.02%
BOOM	F	-0.02%
RLGT	B	-0.02%
XPOF	C	-0.02%
PAYS	F	-0.02%
CPK	A	-0.02%
EOSE	D	-0.02%
BELFB	C	-0.02%
COOK	D	-0.02%
SRDX	B	-0.02%
QSI	C	-0.02%
BFLY	B	-0.02%
BOWL	C	-0.02%
ALDX	D	-0.02%
LYEL	F	-0.02%
STXS	C	-0.02%
LAZR	D	-0.02%
SRI	F	-0.02%
RCEL	B	-0.02%
IBTA	C	-0.02%
PINC	B	-0.01%
LILA	D	-0.01%
GOSS	F	-0.01%
LNZA	F	-0.01%
SES	F	-0.01%
APPS	F	-0.01%
IGMS	F	-0.01%
BMEA	F	-0.01%
PSNL	D	-0.01%
VERU	F	-0.01%
TPIC	F	-0.01%
CABA	F	-0.01%
FPH	C	-0.01%
VERI	F	-0.01%
BLUE	F	-0.01%
SLQT	C	-0.01%
CADL	F	-0.01%
RAPT	F	-0.01%
SGHT	F	-0.01%
BW	D	-0.01%
INZY	F	-0.01%
GHLD	F	-0.01%
MAX	F	-0.01%
ALXO	F	-0.01%
NRC	F	-0.01%
PRME	F	-0.01%
WNC	C	-0.0%
ORGN	D	-0.0%
SDGR	C	-0.0%