FESM vs. VTWG ETF Comparison

Comparison of Fidelity Enhanced Small Cap ETF (FESM) to Vanguard Russell 2000 Growth ETF (VTWG)

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

VTWG

Vanguard Russell 2000 Growth ETF

VTWG Description

The investment seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 2000® Growth Index. The index is designed to measure the performance of small-capitalization growth stocks in the United States. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$221.79

Average Daily Volume

33,079

Number of Holdings ^*

967

* may have additional holdings in another (foreign) market

Performance

Period	FESM	VTWG
30 Days	7.42%	6.52%
60 Days	7.32%	7.41%
90 Days	8.30%	8.38%
12 Months	39.28%	36.87%

331 Overlapping Holdings

	Symbol	Grade	Weight in FESM	Weight in VTWG	Overlap
	ABSI	F	0.05%	0.02%	0.02%
	ABUS	D	0.02%	0.04%	0.02%
	ACAD	C	0.11%	0.13%	0.11%
	ACIW	B	0.05%	0.38%	0.05%
	ACLX	C	0.03%	0.27%	0.03%
	ADMA	B	0.11%	0.27%	0.11%
	ADUS	D	0.1%	0.06%	0.06%
	AEO	F	0.5%	0.21%	0.21%
	AGS	A	0.09%	0.03%	0.03%
	AIN	C	0.08%	0.04%	0.04%
	AIR	B	0.49%	0.03%	0.03%
	AIT	B	0.47%	0.66%	0.47%
	AKBA	C	0.08%	0.0%	0.0%
	AKRO	B	0.06%	0.03%	0.03%
	ALEC	F	0.02%	0.03%	0.02%
	ALHC	C	0.02%	0.09%	0.02%
	ALKS	C	0.21%	0.31%	0.21%
	ALRM	C	0.16%	0.19%	0.16%
	ALT	C	0.02%	0.02%	0.02%
	ALTR	B	0.1%	0.44%	0.1%
	ALX	D	0.04%	0.04%	0.04%
	AMBA	B	0.09%	0.08%	0.08%
	AMPH	F	0.1%	0.14%	0.1%
	AMRX	C	0.12%	0.08%	0.08%
	AMSC	B	0.12%	0.06%	0.06%
	AMSF	B	0.15%	0.03%	0.03%
	ANF	F	0.74%	0.49%	0.49%
	ANIK	D	0.03%	0.0%	0.0%
	ANIP	F	0.08%	0.06%	0.06%
	AORT	B	0.22%	0.06%	0.06%
	APOG	C	0.38%	0.04%	0.04%
	APPN	B	0.06%	0.11%	0.06%
	ARAY	C	0.08%	0.01%	0.01%
	ARCT	F	0.06%	0.03%	0.03%
	ARLO	C	0.17%	0.07%	0.07%
	AROC	A	0.39%	0.25%	0.25%
	ARQT	B	0.09%	0.06%	0.06%
	ARRY	F	0.03%	0.07%	0.03%
	ARVN	F	0.06%	0.12%	0.06%
	ARWR	D	0.05%	0.17%	0.05%
	ATRC	C	0.13%	0.08%	0.08%
	AUR	C	0.09%	0.19%	0.09%
	AVTE	D	0.01%	0.0%	0.0%
	AWR	B	0.3%	0.13%	0.13%
	AX	B	0.29%	0.03%	0.03%
	AXGN	C	0.21%	0.04%	0.04%
	AXNX	A	0.03%	0.26%	0.03%
	AXSM	B	0.07%	0.24%	0.07%
	BAND	B	0.36%	0.03%	0.03%
	BANF	B	0.43%	0.02%	0.02%
	BASE	B	0.04%	0.05%	0.04%
	BBIO	F	0.07%	0.15%	0.07%
	BBSI	B	0.33%	0.06%	0.06%
	BCC	B	0.16%	0.19%	0.16%
	BCO	F	0.24%	0.34%	0.24%
	BCPC	B	0.09%	0.4%	0.09%
	BCRX	D	0.1%	0.12%	0.1%
	BDC	C	0.29%	0.18%	0.18%
	BDTX	F	0.04%	0.01%	0.01%
	BECN	B	0.03%	0.41%	0.03%
	BKD	F	0.06%	0.08%	0.06%
	BL	B	0.2%	0.23%	0.2%
	BLBD	D	0.04%	0.1%	0.04%
	BLKB	B	0.07%	0.23%	0.07%
	BMI	B	0.4%	0.44%	0.4%
	BOOT	C	0.05%	0.27%	0.05%
	BPMC	B	0.16%	0.41%	0.16%
	BSIG	A	0.07%	0.05%	0.05%
	BVS	D	0.18%	0.01%	0.01%
	CALM	A	0.22%	0.02%	0.02%
	CDMO	A	0.08%	0.04%	0.04%
	CDNA	D	0.11%	0.02%	0.02%
	CDXS	B	0.06%	0.0%	0.0%
	CECO	B	0.35%	0.05%	0.05%
	CERS	D	0.06%	0.02%	0.02%
	CHRS	D	0.01%	0.0%	0.0%
	CHX	C	0.11%	0.4%	0.11%
	CLDX	F	0.06%	0.1%	0.06%
	CMPR	D	0.39%	0.06%	0.06%
	CNK	C	0.14%	0.19%	0.14%
	CNMD	C	0.35%	0.16%	0.16%
	COGT	D	0.05%	0.07%	0.05%
	COLL	F	0.07%	0.08%	0.07%
	COMP	B	0.58%	0.18%	0.18%
	CORT	B	0.23%	0.29%	0.23%
	COUR	F	0.04%	0.07%	0.04%
	CPRX	C	0.14%	0.18%	0.14%
	CRAI	C	0.22%	0.09%	0.09%
	CRDO	B	0.36%	0.36%	0.36%
	CRGY	B	0.58%	0.03%	0.03%
	CRNX	C	0.13%	0.36%	0.13%
	CRS	B	0.81%	0.53%	0.53%
	CRVL	B	0.04%	0.2%	0.04%
	CSGS	B	0.59%	0.1%	0.1%
	CSWI	B	0.17%	0.43%	0.17%
	CTRE	C	0.2%	0.03%	0.03%
	CVLT	B	0.77%	0.47%	0.47%
	CWCO	C	0.03%	0.01%	0.01%
	CWT	C	0.2%	0.06%	0.06%
	CXM	C	0.04%	0.07%	0.04%
	CYTK	F	0.16%	0.04%	0.04%
	DAKT	C	0.05%	0.01%	0.01%
	DIN	C	0.02%	0.0%	0.0%
	DIOD	D	0.1%	0.02%	0.02%
	DK	C	0.12%	0.02%	0.02%
	DNLI	D	0.07%	0.14%	0.07%
	DOMO	B	0.15%	0.02%	0.02%
	DVAX	C	0.02%	0.09%	0.02%
	DXPE	C	0.16%	0.0%	0.0%
	DY	D	0.15%	0.37%	0.15%
	DYN	F	0.11%	0.17%	0.11%
	EAT	A	0.11%	0.3%	0.11%
	EB	C	0.02%	0.02%	0.02%
	EGHT	B	0.29%	0.02%	0.02%
	ENS	F	0.61%	0.26%	0.26%
	ENSG	C	0.03%	0.64%	0.03%
	EOLS	D	0.06%	0.07%	0.06%
	EPAC	C	0.23%	0.18%	0.18%
	EWTX	C	0.16%	0.18%	0.16%
	EXLS	B	0.54%	0.48%	0.48%
	EXPI	D	0.16%	0.08%	0.08%
	EXTR	C	0.13%	0.07%	0.07%
	FBP	C	0.28%	0.02%	0.02%
	FFIN	B	0.35%	0.35%	0.35%
	FIZZ	C	0.03%	0.08%	0.03%
	FLNC	D	0.17%	0.1%	0.1%
	FLR	B	0.5%	0.61%	0.5%
	FLYW	B	0.05%	0.15%	0.05%
	FN	C	0.74%	0.65%	0.65%
	FOLD	F	0.14%	0.25%	0.14%
	FORM	D	0.12%	0.22%	0.12%
	FSS	B	0.08%	0.36%	0.08%
	FTDR	B	0.08%	0.29%	0.08%
	FUL	F	0.52%	0.08%	0.08%
	GERN	D	0.04%	0.12%	0.04%
	GFF	A	0.3%	0.18%	0.18%
	GH	B	0.35%	0.19%	0.19%
	GIC	D	0.06%	0.03%	0.03%
	GKOS	B	0.1%	0.48%	0.1%
	GRC	A	0.03%	0.06%	0.03%
	HAE	C	0.14%	0.26%	0.14%
	HALO	F	0.21%	0.47%	0.21%
	HBI	B	0.07%	0.18%	0.07%
	HCAT	D	0.11%	0.0%	0.0%
	HCI	C	0.11%	0.07%	0.07%
	HIMS	B	0.03%	0.26%	0.03%
	HLIT	D	0.09%	0.09%	0.09%
	HLX	B	0.23%	0.02%	0.02%
	HNI	B	0.2%	0.08%	0.08%
	HNST	A	0.03%	0.01%	0.01%
	HQY	A	0.24%	0.53%	0.24%
	HROW	D	0.03%	0.1%	0.03%
	HRTX	F	0.04%	0.0%	0.0%
	HSTM	B	0.2%	0.02%	0.02%
	HUMA	F	0.03%	0.03%	0.03%
	HURN	C	0.21%	0.15%	0.15%
	HWKN	B	0.53%	0.15%	0.15%
	HY	D	0.18%	0.03%	0.03%
	IBP	D	0.57%	0.38%	0.38%
	ICFI	F	0.04%	0.23%	0.04%
	IDT	B	0.03%	0.04%	0.03%
	IDYA	F	0.04%	0.17%	0.04%
	IGT	F	0.49%	0.02%	0.02%
	IMVT	F	0.01%	0.13%	0.01%
	INSM	C	0.42%	0.78%	0.42%
	INTA	B	0.17%	0.15%	0.15%
	IOVA	F	0.04%	0.2%	0.04%
	IRTC	C	0.17%	0.17%	0.17%
	IRWD	F	0.07%	0.01%	0.01%
	ITRI	C	0.47%	0.34%	0.34%
	JAMF	F	0.07%	0.1%	0.07%
	JBSS	F	0.02%	0.05%	0.02%
	KALV	F	0.04%	0.03%	0.03%
	KBH	D	0.2%	0.05%	0.05%
	KNF	B	0.13%	0.41%	0.13%
	KREF	C	0.12%	0.01%	0.01%
	KRYS	C	0.11%	0.32%	0.11%
	KTB	B	0.08%	0.35%	0.08%
	KTOS	B	0.31%	0.11%	0.11%
	KURA	F	0.1%	0.09%	0.09%
	KYMR	D	0.03%	0.15%	0.03%
	LANC	C	0.45%	0.25%	0.25%
	LIVN	F	0.07%	0.01%	0.01%
	LKFN	C	0.52%	0.01%	0.01%
	LMAT	A	0.03%	0.13%	0.03%
	LMB	B	0.17%	0.06%	0.06%
	LMND	B	0.51%	0.07%	0.07%
	LNTH	D	0.07%	0.56%	0.07%
	LUNR	B	0.07%	0.0%	0.0%
	LYTS	B	0.11%	0.02%	0.02%
	MCRI	A	0.05%	0.07%	0.05%
	MCY	A	0.03%	0.02%	0.02%
	MDGL	B	0.15%	0.34%	0.15%
	MDXG	B	0.02%	0.03%	0.02%
	MGNX	F	0.04%	0.01%	0.01%
	MLNK	C	0.05%	0.03%	0.03%
	MMSI	A	0.4%	0.42%	0.4%
	MOG.A	B	0.25%	0.4%	0.25%
	MQ	D	0.02%	0.17%	0.02%
	MRSN	D	0.02%	0.01%	0.01%
	MRTN	D	0.23%	0.01%	0.01%
	MTRN	C	0.08%	0.15%	0.08%
	MWA	B	0.6%	0.25%	0.25%
	MXL	C	0.48%	0.07%	0.07%
	MYE	F	0.07%	0.03%	0.03%
	NABL	F	0.06%	0.06%	0.06%
	NARI	C	0.03%	0.19%	0.03%
	NBR	C	0.24%	0.02%	0.02%
	NGVC	A	0.1%	0.0%	0.0%
	NMIH	C	0.33%	0.02%	0.02%
	NRIX	C	0.14%	0.08%	0.08%
	NSSC	D	0.04%	0.1%	0.04%
	NUVL	C	0.04%	0.23%	0.04%
	NVAX	F	0.07%	0.08%	0.07%
	OABI	F	0.05%	0.0%	0.0%
	OPCH	D	0.14%	0.14%	0.14%
	OPEN	F	0.07%	0.0%	0.0%
	ORGO	B	0.05%	0.0%	0.0%
	ORIC	F	0.07%	0.01%	0.01%
	OSCR	D	0.1%	0.24%	0.1%
	OTTR	C	0.11%	0.11%	0.11%
	OUT	A	0.53%	0.08%	0.08%
	PAHC	C	0.05%	0.01%	0.01%
	PAYO	A	0.65%	0.14%	0.14%
	PBI	B	0.19%	0.03%	0.03%
	PBYI	C	0.02%	0.0%	0.0%
	PCRX	C	0.08%	0.0%	0.0%
	PCVX	D	0.36%	0.94%	0.36%
	PD	C	0.18%	0.12%	0.12%
	PDCO	F	0.02%	0.02%	0.02%
	PDFS	C	0.24%	0.07%	0.07%
	PECO	A	0.34%	0.05%	0.05%
	PGEN	F	0.02%	0.0%	0.0%
	PHR	F	0.29%	0.08%	0.08%
	PJT	A	0.18%	0.24%	0.18%
	PKE	B	0.02%	0.01%	0.01%
	PLAB	C	0.22%	0.04%	0.04%
	PLPC	B	0.25%	0.0%	0.0%
	PLXS	B	0.23%	0.09%	0.09%
	PRG	C	0.54%	0.02%	0.02%
	PRGS	A	0.26%	0.2%	0.2%
	PRO	C	0.18%	0.07%	0.07%
	PTCT	B	0.17%	0.17%	0.17%
	PTGX	D	0.08%	0.2%	0.08%
	QLYS	B	0.56%	0.33%	0.33%
	QTRX	F	0.06%	0.0%	0.0%
	QTWO	A	0.8%	0.37%	0.37%
	RAMP	B	0.02%	0.12%	0.02%
	RCKT	F	0.03%	0.08%	0.03%
	RCKY	F	0.02%	0.0%	0.0%
	RDFN	D	0.1%	0.09%	0.09%
	REPX	A	0.12%	0.0%	0.0%
	RM	C	0.06%	0.0%	0.0%
	RMBS	B	0.19%	0.38%	0.19%
	RNA	C	0.21%	0.34%	0.21%
	ROCK	C	0.21%	0.07%	0.07%
	RVMD	C	0.26%	0.39%	0.26%
	RVNC	F	0.06%	0.05%	0.05%
	RXO	D	0.06%	0.28%	0.06%
	RXRX	F	0.09%	0.11%	0.09%
	RYTM	C	0.16%	0.19%	0.16%
	SAH	C	0.15%	0.02%	0.02%
	SANA	F	0.03%	0.03%	0.03%
	SEM	B	0.07%	0.18%	0.07%
	SFBS	C	0.18%	0.09%	0.09%
	SFL	D	0.02%	0.02%	0.02%
	SFM	A	0.97%	0.96%	0.96%
	SHAK	C	0.23%	0.34%	0.23%
	SIGI	C	0.44%	0.35%	0.35%
	SKT	A	0.11%	0.1%	0.1%
	SLVM	B	0.18%	0.05%	0.05%
	SMMT	D	0.01%	0.11%	0.01%
	SMTC	B	0.19%	0.21%	0.19%
	SNDX	F	0.06%	0.11%	0.06%
	SNEX	B	0.25%	0.02%	0.02%
	SPCE	D	0.01%	0.0%	0.0%
	SPNS	F	0.02%	0.08%	0.02%
	SPSC	D	0.72%	0.45%	0.45%
	SPT	C	0.08%	0.1%	0.08%
	SRRK	C	0.13%	0.13%	0.13%
	SSTK	F	0.08%	0.05%	0.05%
	STEP	C	0.32%	0.28%	0.28%
	STNE	F	0.03%	0.12%	0.03%
	SUPN	C	0.02%	0.01%	0.01%
	SVRA	F	0.02%	0.02%	0.02%
	SWTX	C	0.02%	0.15%	0.02%
	SXT	C	0.32%	0.22%	0.22%
	TDOC	C	0.08%	0.02%	0.02%
	TENB	C	0.36%	0.35%	0.35%
	TERN	F	0.04%	0.0%	0.0%
	TGTX	B	0.09%	0.26%	0.09%
	THR	B	0.07%	0.01%	0.01%
	TILE	B	0.22%	0.01%	0.01%
	TMCI	C	0.05%	0.02%	0.02%
	TNC	D	0.19%	0.05%	0.05%
	TNDM	D	0.04%	0.15%	0.04%
	TNET	F	0.02%	0.2%	0.02%
	TNYA	D	0.02%	0.0%	0.0%
	TPH	D	0.34%	0.08%	0.08%
	TREE	F	0.06%	0.04%	0.04%
	TRN	B	0.26%	0.19%	0.19%
	TRUP	B	0.12%	0.13%	0.12%
	TSHA	C	0.06%	0.02%	0.02%
	TWST	F	0.14%	0.17%	0.14%
	UCTT	D	0.37%	0.11%	0.11%
	UEC	B	0.06%	0.22%	0.06%
	UFPI	C	0.03%	0.31%	0.03%
	UHT	D	0.05%	0.03%	0.03%
	UPBD	B	0.5%	0.12%	0.12%
	URBN	C	0.08%	0.05%	0.05%
	URGN	F	0.01%	0.03%	0.01%
	USLM	A	0.03%	0.09%	0.03%
	UVE	B	0.04%	0.01%	0.01%
	VCEL	B	0.03%	0.16%	0.03%
	VERA	C	0.02%	0.12%	0.02%
	VICR	C	0.35%	0.04%	0.04%
	VRTS	B	0.14%	0.09%	0.09%
	VSCO	C	0.03%	0.04%	0.03%
	WEAV	C	0.07%	0.04%	0.04%
	WK	B	0.28%	0.3%	0.28%
	WKC	C	0.14%	0.01%	0.01%
	WT	A	0.51%	0.11%	0.11%
	WTS	B	0.39%	0.39%	0.39%
	WVE	C	0.08%	0.07%	0.07%
	XNCR	B	0.02%	0.04%	0.02%
	YELP	C	0.58%	0.17%	0.17%
	YEXT	B	0.28%	0.06%	0.06%
	YMAB	F	0.03%	0.04%	0.03%
	YOU	D	0.32%	0.24%	0.24%
	ZIP	D	0.05%	0.05%	0.05%
	ZUO	B	0.2%	0.1%	0.1%

FESM Overweight 231 Positions Relative to VTWG

	Symbol	Grade	Weight
	LUMN	C	0.86%
	SKYW	C	0.69%
	BGC	C	0.66%
	JXN	C	0.64%
	MHO	D	0.59%
	NWBI	B	0.57%
	MTX	B	0.56%
	EME	A	0.55%
	CVNA	B	0.55%
	FIX	A	0.55%
	MTDR	B	0.51%
	VMEO	B	0.51%
	FHI	B	0.5%
	TMHC	C	0.47%
	REZI	A	0.46%
	CODI	B	0.44%
	BHE	C	0.41%
	GT	C	0.39%
	SANM	B	0.39%
	ACA	A	0.37%
	CBU	B	0.37%
	AAT	B	0.36%
	ABCB	B	0.36%
	UMBF	B	0.34%
	TEX	F	0.34%
	ESRT	C	0.34%
	GNW	A	0.33%
	SF	B	0.32%
	ATI	C	0.32%
	ABM	B	0.32%
	MATX	C	0.32%
	COKE	C	0.32%
	PFS	B	0.31%
	EQC	B	0.31%
	SWX	B	0.31%
	KAR	B	0.31%
	NJR	A	0.3%
	MTH	D	0.3%
	WOOF	D	0.3%
	VREX	B	0.29%
	TRNO	F	0.28%
	LNW	F	0.28%
	SXC	A	0.28%
	CNO	B	0.27%
	CEIX	A	0.25%
	CDP	C	0.25%
	HP	C	0.25%
	PSN	D	0.24%
	EZPW	B	0.23%
	CPF	B	0.23%
	BUSE	B	0.23%
	RNST	B	0.22%
	CRC	A	0.22%
	COMM	D	0.22%
	HWC	B	0.22%
	GEO	B	0.22%
	MAC	B	0.22%
	WABC	B	0.21%
	PBH	A	0.21%
	SJW	F	0.21%
	OI	C	0.21%
	AXL	C	0.21%
	HL	D	0.19%
	MUR	D	0.19%
	FULT	A	0.19%
	UBSI	B	0.19%
	SBH	C	0.18%
	CADE	B	0.18%
	FRME	B	0.18%
	XRX	F	0.18%
	AVNS	F	0.18%
	CNXN	C	0.18%
	VRE	B	0.18%
	PRK	B	0.17%
	DCO	C	0.17%
	TDS	B	0.17%
	TVTX	C	0.16%
	BOH	B	0.16%
	VCYT	B	0.15%
	STNG	F	0.15%
	WSBC	B	0.15%
	NFBK	C	0.15%
	TRTX	C	0.15%
	OFG	B	0.15%
	CPS	C	0.15%
	GHC	B	0.14%
	AGIO	C	0.14%
	ETD	C	0.14%
	FLXS	B	0.14%
	UCB	A	0.14%
	WSR	A	0.13%
	WS	C	0.13%
	SRCE	B	0.13%
	SLG	B	0.13%
	BRC	D	0.12%
	ZEUS	C	0.12%
	UNIT	B	0.11%
	ALE	A	0.1%
	LADR	B	0.1%
	TRUE	C	0.1%
	INDB	B	0.1%
	FFBC	B	0.1%
	GMRE	F	0.1%
	AUB	B	0.1%
	VTOL	B	0.1%
	VBTX	B	0.09%
	EBS	C	0.09%
	ADPT	C	0.09%
	AMAL	B	0.09%
	LGND	C	0.09%
	ODP	F	0.09%
	MYGN	F	0.09%
	PRLB	B	0.08%
	FDP	B	0.08%
	BSRR	B	0.08%
	SGMO	C	0.08%
	DEA	D	0.08%
	EGP	D	0.08%
	CATY	B	0.08%
	LTH	C	0.08%
	RUSHA	C	0.08%
	TCMD	B	0.08%
	MRC	B	0.08%
	SCS	C	0.08%
	PACB	F	0.08%
	CTKB	C	0.07%
	KE	C	0.07%
	KOD	B	0.07%
	NBTB	B	0.07%
	HRTG	C	0.07%
	FISI	B	0.07%
	PGC	B	0.07%
	LGF.A	C	0.07%
	NUVB	C	0.07%
	ATNI	F	0.07%
	PL	B	0.07%
	CTBI	B	0.07%
	MEDP	D	0.07%
	WSBF	C	0.07%
	REPL	D	0.07%
	CDE	C	0.07%
	WMK	C	0.07%
	ANNX	F	0.06%
	ERAS	C	0.06%
	IART	C	0.06%
	BGS	F	0.06%
	CMC	B	0.06%
	CCCC	F	0.06%
	HURC	B	0.06%
	AVD	C	0.06%
	FBK	C	0.06%
	ETNB	C	0.05%
	ALLK	D	0.05%
	SAGE	F	0.05%
	LGF.A	C	0.05%
	DSGN	C	0.05%
	ATRO	D	0.05%
	OPY	B	0.05%
	OIS	B	0.05%
	STRO	F	0.05%
	BY	B	0.05%
	VNDA	C	0.05%
	EE	A	0.05%
	SNBR	F	0.05%
	ONTO	F	0.05%
	CVBF	A	0.05%
	TSVT	F	0.04%
	LPSN	F	0.04%
	AOSL	C	0.04%
	NXRT	B	0.04%
	MSBI	B	0.04%
	BRSP	C	0.04%
	VYGR	F	0.04%
	NPAB	F	0.04%
	ZNTL	F	0.04%
	TXRH	B	0.04%
	PRTS	C	0.03%
	GCI	D	0.03%
	NPK	B	0.03%
	ACET	F	0.03%
	GIII	D	0.03%
	ENTA	F	0.03%
	RMAX	C	0.03%
	SHEN	F	0.03%
	RLMD	F	0.03%
	MBWM	B	0.03%
	BEAM	D	0.03%
	MED	D	0.03%
	RLAY	F	0.03%
	ASC	F	0.03%
	STBA	B	0.03%
	FNKO	D	0.03%
	UVSP	B	0.03%
	ETWO	F	0.03%
	CHGG	C	0.03%
	BHLB	B	0.03%
	FATE	F	0.03%
	EDIT	F	0.03%
	CSR	B	0.03%
	ANGO	C	0.02%
	UPLD	B	0.02%
	ONTF	C	0.02%
	CTMX	F	0.02%
	NTLA	F	0.02%
	ZIMV	D	0.02%
	MCB	B	0.02%
	NKTR	F	0.02%
	TCBK	C	0.02%
	SPOK	B	0.02%
	CRBU	D	0.02%
	PRAA	D	0.02%
	GPRE	F	0.02%
	FCF	B	0.02%
	DOC	C	0.02%
	TSE	F	0.02%
	NKTX	F	0.02%
	KPTI	D	0.02%
	FSTR	B	0.02%
	BOLT	F	0.01%
	CARA	D	0.01%
	WFRD	D	0.01%
	ALVR	F	0.01%
	INO	F	0.01%
	NOVA	F	0.01%
	GATX	A	0.01%
	ZDGE	F	0.01%
	FGEN	D	0.01%
	ADAP	F	0.01%
	RIG	D	0.01%
	XBIT	F	0.01%
	CCBG	B	0.01%

FESM Underweight 636 Positions Relative to VTWG

	Symbol	Grade	Weight
	MLI	B	-0.63%
	HLNE	B	-0.51%
	RHP	B	-0.46%
	CWST	A	-0.45%
	MOD	A	-0.45%
	NOVT	D	-0.45%
	HRI	C	-0.44%
	CBT	D	-0.43%
	AVAV	C	-0.42%
	VRNS	D	-0.41%
	MMS	F	-0.39%
	GTLS	A	-0.38%
	ZETA	D	-0.37%
	NSIT	F	-0.36%
	PIPR	A	-0.36%
	ZWS	B	-0.36%
	STRL	A	-0.35%
	MC	C	-0.35%
	EXPO	D	-0.35%
	BOX	B	-0.33%
	RDNT	B	-0.32%
	VRRM	F	-0.32%
	FELE	B	-0.32%
	PI	D	-0.32%
	MGY	A	-0.3%
	AEIS	C	-0.3%
	WHD	B	-0.29%
	KAI	B	-0.29%
	CWAN	B	-0.29%
	LRN	A	-0.29%
	RKLB	A	-0.28%
	UPST	B	-0.28%
	MARA	B	-0.28%
	IDCC	B	-0.28%
	PRCT	B	-0.28%
	CCOI	B	-0.26%
	SGBX	F	-0.26%
	WDFC	B	-0.26%
	SLAB	F	-0.25%
	ROAD	B	-0.25%
	POWI	F	-0.25%
	CVCO	A	-0.25%
	ENV	B	-0.24%
	GMS	B	-0.24%
	SHOO	F	-0.24%
	CBZ	B	-0.24%
	GVA	A	-0.23%
	SMPL	B	-0.23%
	PRIM	A	-0.23%
	SITM	B	-0.23%
	ATKR	D	-0.23%
	TDW	F	-0.22%
	DORM	B	-0.22%
	MGRC	B	-0.21%
	APAM	B	-0.21%
	ACLS	F	-0.21%
	NSP	F	-0.21%
	ITGR	B	-0.21%
	EVH	F	-0.2%
	PTON	A	-0.2%
	CNS	B	-0.2%
	PATK	C	-0.2%
	HGV	C	-0.2%
	CARG	B	-0.2%
	LCII	C	-0.2%
	JJSF	C	-0.19%
	WD	D	-0.19%
	ACVA	B	-0.19%
	DOCN	C	-0.19%
	TMDX	F	-0.19%
	POWL	C	-0.18%
	TBBK	B	-0.18%
	KLIC	B	-0.18%
	FRSH	B	-0.18%
	CLSK	C	-0.18%
	GSHD	A	-0.18%
	ARCB	C	-0.18%
	VCTR	B	-0.18%
	VC	F	-0.18%
	OII	B	-0.18%
	RPD	B	-0.18%
	CAKE	C	-0.17%
	SKY	A	-0.17%
	VERX	A	-0.17%
	AGYS	A	-0.17%
	AMR	C	-0.17%
	IOSP	C	-0.17%
	ENR	B	-0.17%
	ASTH	F	-0.17%
	EVTC	B	-0.16%
	KWR	C	-0.16%
	MYRG	B	-0.16%
	PLMR	A	-0.16%
	IPAR	B	-0.16%
	OSIS	A	-0.15%
	PAR	A	-0.15%
	VAL	F	-0.15%
	COOP	B	-0.15%
	BRZE	C	-0.15%
	AI	B	-0.15%
	AZZ	A	-0.14%
	LAUR	A	-0.14%
	JOE	F	-0.14%
	PRVA	C	-0.14%
	NATL	B	-0.14%
	JOBY	B	-0.14%
	LBPH	A	-0.14%
	UFPT	C	-0.14%
	VYX	B	-0.13%
	KROS	D	-0.13%
	ALG	B	-0.13%
	BE	B	-0.13%
	OSW	B	-0.13%
	KOS	D	-0.13%
	GOLF	B	-0.13%
	TFIN	B	-0.13%
	IESC	C	-0.13%
	RXST	F	-0.13%
	HEES	C	-0.12%
	PLUS	F	-0.12%
	ESE	B	-0.12%
	NVCR	C	-0.12%
	AGX	B	-0.12%
	TARS	C	-0.12%
	SXI	B	-0.12%
	OCUL	D	-0.12%
	ALKT	B	-0.12%
	UPWK	B	-0.12%
	WULF	C	-0.11%
	STAA	F	-0.11%
	MNKD	C	-0.11%
	CSTM	F	-0.11%
	AMN	F	-0.11%
	PFSI	C	-0.11%
	SOUN	B	-0.11%
	WRBY	A	-0.11%
	AGM	B	-0.11%
	MIRM	B	-0.11%
	JANX	C	-0.11%
	SMR	B	-0.11%
	NGVT	B	-0.11%
	TGLS	B	-0.11%
	CALX	D	-0.11%
	PSMT	D	-0.1%
	BKE	B	-0.1%
	THRM	F	-0.1%
	AESI	B	-0.1%
	VECO	F	-0.1%
	INFN	D	-0.1%
	ARDX	F	-0.1%
	ENVX	F	-0.1%
	SONO	C	-0.1%
	CHEF	A	-0.1%
	MGNI	B	-0.1%
	MGEE	B	-0.1%
	RRR	F	-0.09%
	CTS	C	-0.09%
	PLAY	D	-0.09%
	LOB	C	-0.09%
	USPH	B	-0.09%
	WWW	A	-0.09%
	PGNY	F	-0.09%
	PZZA	F	-0.09%
	ERII	D	-0.08%
	CGON	F	-0.08%
	CWH	B	-0.08%
	ATEN	A	-0.08%
	SAVA	C	-0.08%
	JBI	F	-0.08%
	IMAX	B	-0.08%
	LEU	C	-0.08%
	HLIO	B	-0.08%
	REVG	C	-0.08%
	WOR	F	-0.08%
	KFRC	D	-0.08%
	KLG	B	-0.08%
	QNST	B	-0.08%
	KALU	C	-0.08%
	VITL	D	-0.08%
	CLB	B	-0.07%
	DRVN	B	-0.07%
	CDRE	F	-0.07%
	PNTG	D	-0.07%
	SHLS	F	-0.07%
	ASGN	F	-0.07%
	GPOR	B	-0.07%
	ELVN	D	-0.07%
	WLY	B	-0.07%
	CENX	B	-0.07%
	ASO	F	-0.07%
	RVLV	A	-0.07%
	JACK	C	-0.07%
	DFIN	D	-0.07%
	ASAN	B	-0.07%
	HRMY	D	-0.07%
	SDGR	C	-0.07%
	DNUT	F	-0.07%
	XPEL	B	-0.07%
	VZIO	A	-0.07%
	VRDN	D	-0.07%
	UDMY	D	-0.06%
	OXM	F	-0.06%
	BLFS	C	-0.06%
	UTZ	D	-0.06%
	VVI	C	-0.06%
	AGL	F	-0.06%
	PAGS	F	-0.06%
	ATEC	C	-0.06%
	SM	B	-0.06%
	MRVI	F	-0.06%
	RSI	A	-0.06%
	MEG	F	-0.06%
	XMTR	B	-0.06%
	RCUS	F	-0.06%
	DFH	D	-0.06%
	BLND	A	-0.06%
	IE	C	-0.06%
	TRNS	D	-0.06%
	OEC	C	-0.06%
	NNBR	C	-0.06%
	MCW	C	-0.05%
	PUBM	C	-0.05%
	SGHC	A	-0.05%
	LQDA	F	-0.05%
	PAX	C	-0.05%
	LNN	B	-0.05%
	GSAT	C	-0.05%
	HI	C	-0.05%
	ACMR	D	-0.05%
	UTI	B	-0.05%
	DBRG	F	-0.05%
	CCB	A	-0.05%
	NEXT	C	-0.05%
	MGPI	F	-0.05%
	DAWN	D	-0.05%
	GDYN	B	-0.05%
	IBUY	B	-0.05%
	BLMN	F	-0.05%
	TPB	B	-0.05%
	ACHR	B	-0.05%
	AUPH	B	-0.05%
	CGEM	F	-0.05%
	SPRY	C	-0.05%
	TTGT	B	-0.05%
	FSLY	D	-0.05%
	CASS	C	-0.04%
	DJCO	B	-0.04%
	CVI	F	-0.04%
	BBW	C	-0.04%
	CTLP	B	-0.04%
	CASH	B	-0.04%
	PRMW	C	-0.04%
	HLF	C	-0.04%
	CRMD	C	-0.04%
	APLT	C	-0.04%
	MAX	F	-0.04%
	FWRG	C	-0.04%
	EU	D	-0.04%
	REAX	D	-0.04%
	LPG	F	-0.04%
	INOD	B	-0.04%
	APLD	B	-0.04%
	PTLO	F	-0.04%
	ATGE	B	-0.04%
	HCKT	B	-0.04%
	IBTA	C	-0.04%
	IMXI	B	-0.04%
	ACEL	C	-0.04%
	AIV	C	-0.04%
	EVRI	A	-0.04%
	OSPN	A	-0.04%
	LPRO	B	-0.04%
	NRDS	C	-0.04%
	GRBK	D	-0.04%
	KRUS	B	-0.04%
	IMNM	F	-0.04%
	CIFR	C	-0.04%
	TYRA	F	-0.03%
	LRMR	D	-0.03%
	DSGR	C	-0.03%
	RIOT	C	-0.03%
	WRLD	C	-0.03%
	NVEC	B	-0.03%
	BYND	F	-0.03%
	MNTK	F	-0.03%
	BIGC	B	-0.03%
	BFS	C	-0.03%
	ARHS	F	-0.03%
	LWLG	D	-0.03%
	BJRI	C	-0.03%
	PX	A	-0.03%
	MIR	A	-0.03%
	CSV	B	-0.03%
	SKWD	A	-0.03%
	AEHR	F	-0.03%
	CELC	F	-0.03%
	IRMD	C	-0.03%
	PPTA	C	-0.03%
	MITK	C	-0.03%
	ESQ	B	-0.03%
	EAF	C	-0.03%
	CBL	B	-0.03%
	FA	C	-0.03%
	TTI	B	-0.03%
	JELD	F	-0.03%
	PRTA	F	-0.03%
	GCMG	B	-0.03%
	ANAB	F	-0.03%
	PLOW	D	-0.03%
	LFST	B	-0.03%
	SLP	D	-0.03%
	ENFN	B	-0.03%
	CAPR	C	-0.03%
	STOK	F	-0.03%
	FC	F	-0.03%
	DMRC	B	-0.03%
	FLNG	C	-0.03%
	XERS	C	-0.03%
	EVER	D	-0.03%
	SIBN	F	-0.03%
	MNMD	C	-0.03%
	AHCO	F	-0.03%
	THRY	D	-0.03%
	CEVA	B	-0.03%
	LQDT	B	-0.03%
	SEMR	C	-0.03%
	SYNA	C	-0.02%
	HTLD	C	-0.02%
	NATH	C	-0.02%
	INSE	C	-0.02%
	WTI	F	-0.02%
	SERA	F	-0.02%
	NOG	B	-0.02%
	LOVE	A	-0.02%
	PRME	F	-0.02%
	EWCZ	F	-0.02%
	TRAK	B	-0.02%
	LAZR	D	-0.02%
	IIIN	C	-0.02%
	ASPN	F	-0.02%
	CBRL	C	-0.02%
	OCGN	F	-0.02%
	DENN	D	-0.02%
	LIND	C	-0.02%
	LUNG	F	-0.02%
	CYRX	F	-0.02%
	IGMS	F	-0.02%
	NVEE	F	-0.02%
	NTST	C	-0.02%
	TH	C	-0.02%
	SIGA	F	-0.02%
	JBT	B	-0.02%
	FNA	B	-0.02%
	BYRN	B	-0.02%
	CRCT	F	-0.02%
	SABR	C	-0.02%
	OLO	A	-0.02%
	ULCC	D	-0.02%
	RCEL	B	-0.02%
	CHPT	F	-0.02%
	BMEA	F	-0.02%
	SNCY	C	-0.02%
	FDMT	F	-0.02%
	VSEC	C	-0.02%
	EYPT	D	-0.02%
	SKYT	D	-0.02%
	BWMN	C	-0.02%
	CYH	F	-0.02%
	METC	C	-0.02%
	NRC	F	-0.02%
	CENTA	C	-0.02%
	ICHR	C	-0.02%
	INST	B	-0.02%
	GHM	A	-0.02%
	BLZE	F	-0.02%
	CSTL	D	-0.02%
	WERN	C	-0.02%
	NNOX	C	-0.02%
	ATEX	F	-0.02%
	LESL	D	-0.02%
	XPOF	C	-0.02%
	PCT	C	-0.02%
	CCS	D	-0.02%
	CAL	F	-0.02%
	NIC	B	-0.02%
	PLSE	C	-0.02%
	CMPO	B	-0.02%
	NPO	A	-0.02%
	GRND	A	-0.02%
	SRCL	B	-0.02%
	AMRC	F	-0.02%
	RDVT	A	-0.02%
	SRDX	B	-0.02%
	DHIL	B	-0.02%
	CCO	C	-0.01%
	NWPX	A	-0.01%
	CVGW	D	-0.01%
	FOR	F	-0.01%
	STKS	F	-0.01%
	REKR	F	-0.01%
	ODC	B	-0.01%
	AKYA	F	-0.01%
	VERU	F	-0.01%
	GCO	C	-0.01%
	OMER	A	-0.01%
	INMB	F	-0.01%
	EMBC	C	-0.01%
	ACCD	D	-0.01%
	AIRS	C	-0.01%
	EP	C	-0.01%
	GLSI	F	-0.01%
	EVI	F	-0.01%
	FULC	F	-0.01%
	XFOR	F	-0.01%
	MLYS	F	-0.01%
	BLNK	F	-0.01%
	DC	D	-0.01%
	LXRX	F	-0.01%
	AMWD	C	-0.01%
	LFMD	D	-0.01%
	NPCE	C	-0.01%
	CTGO	D	-0.01%
	MODV	C	-0.01%
	OPRX	F	-0.01%
	GNE	F	-0.01%
	PEPG	F	-0.01%
	STGW	A	-0.01%
	INVA	D	-0.01%
	SSTI	C	-0.01%
	EGAN	C	-0.01%
	EVEX	D	-0.01%
	GOOD	B	-0.01%
	IRON	B	-0.01%
	PRTH	B	-0.01%
	ACHV	F	-0.01%
	STXS	C	-0.01%
	SCWO	F	-0.01%
	NTIC	B	-0.01%
	IAS	C	-0.01%
	MRAM	D	-0.01%
	ULH	C	-0.01%
	PFIS	A	-0.01%
	QUIK	F	-0.01%
	CADL	F	-0.01%
	ESPR	B	-0.01%
	TRVI	F	-0.01%
	LAW	F	-0.01%
	AQST	D	-0.01%
	TAYD	D	-0.01%
	INBK	B	-0.01%
	MVIS	F	-0.01%
	SPNT	B	-0.01%
	KFS	B	-0.01%
	BRY	F	-0.01%
	GRPN	F	-0.01%
	FHTX	C	-0.01%
	JILL	C	-0.01%
	SCPH	F	-0.01%
	PSTL	D	-0.01%
	QUAD	C	-0.01%
	PAYS	F	-0.01%
	PLUG	F	-0.01%
	OLMA	F	-0.01%
	TIPT	C	-0.01%
	FFWM	C	-0.01%
	LWAY	C	-0.01%
	LCTX	F	-0.01%
	SKIN	D	-0.01%
	JYNT	C	-0.01%
	RILY	F	-0.01%
	INFU	B	-0.01%
	BBAI	C	-0.01%
	DESP	B	-0.01%
	SKYH	C	-0.01%
	KLTR	B	-0.01%
	PHAT	F	-0.01%
	ACIC	B	-0.01%
	SMTI	B	-0.01%
	TSQ	D	-0.01%
	BTMD	B	-0.01%
	CHCO	B	-0.01%
	CDZI	C	-0.01%
	ZYXI	D	-0.01%
	AVXL	B	-0.01%
	QRHC	D	-0.01%
	MSEX	C	-0.01%
	CTOS	B	-0.01%
	ADCT	F	-0.01%
	NEO	C	-0.01%
	SMLR	B	-0.01%
	MDWD	D	-0.01%
	GWRS	B	-0.01%
	OMI	F	-0.01%
	MGTX	C	-0.01%
	TCX	D	-0.01%
	BRCC	F	-0.01%
	REX	D	-0.01%
	LGIH	F	-0.01%
	XOMA	C	-0.01%
	AEYE	C	-0.01%
	SMID	B	-0.01%
	MLP	B	-0.01%
	LBRT	D	-0.01%
	SCL	C	-0.01%
	HEAR	D	-0.01%
	EVCM	B	-0.01%
	GAMB	A	-0.01%
	PRCH	B	-0.01%
	AVAH	B	-0.01%
	INDI	C	-0.01%
	CDXC	B	-0.01%
	INMD	C	-0.01%
	ALTG	C	-0.01%
	CDLX	D	-0.01%
	CVRX	C	-0.01%
	SGHT	F	-0.01%
	UMH	B	-0.01%
	KNTK	A	-0.01%
	ANDE	D	-0.01%
	DSP	A	-0.01%
	RGR	F	-0.01%
	GOGO	C	-0.01%
	OFLX	D	-0.01%
	KRT	B	-0.01%
	PFMT	F	-0.01%
	RICK	B	-0.01%
	LNZA	F	-0.01%
	PESI	B	-0.01%
	ZURA	F	-0.01%
	MLAB	F	-0.01%
	GCBC	C	-0.01%
	REAL	B	-0.01%
	PBPB	C	-0.01%
	QRTEB	F	-0.0%
	SES	F	-0.0%
	LYRA	F	-0.0%
	TDUP	C	-0.0%
	MASS	F	-0.0%
	BSVN	B	-0.0%
	RSVR	B	-0.0%
	QIPT	F	-0.0%
	ATLC	A	-0.0%
	ULBI	F	-0.0%
	GRWG	D	-0.0%
	HLVX	F	-0.0%
	VIRC	B	-0.0%
	RMNI	C	-0.0%
	VGAS	B	-0.0%
	RENB	F	-0.0%
	FBIZ	B	-0.0%
	CZFS	B	-0.0%
	ELEV	D	-0.0%
	HOWL	F	-0.0%
	APEI	B	-0.0%
	BOC	C	-0.0%
	EVC	C	-0.0%
	LSEA	D	-0.0%
	FENC	D	-0.0%
	SST	F	-0.0%
	CTV	A	-0.0%
	RGLS	F	-0.0%
	MEC	F	-0.0%
	DIBS	F	-0.0%
	AMPX	C	-0.0%
	DLHC	F	-0.0%
	CIX	D	-0.0%
	ALRS	D	-0.0%
	HBIO	F	-0.0%
	ANET	C	-0.0%
	SHYF	C	-0.0%
	VRCA	F	-0.0%
	CLBK	C	-0.0%
	ALDX	D	-0.0%
	ORN	B	-0.0%
	SGC	C	-0.0%
	ATOS	F	-0.0%
	GALT	C	-0.0%
	IIIV	C	-0.0%
	LASR	D	-0.0%
	STTK	F	-0.0%
	NATR	C	-0.0%
	MITT	D	-0.0%
	CABA	F	-0.0%
	INNV	F	-0.0%
	VALU	C	-0.0%
	AOMR	F	-0.0%
	MPX	C	-0.0%
	CENT	C	-0.0%
	CHCT	C	-0.0%
	CMRE	C	-0.0%
	FUBO	D	-0.0%
	OOMA	B	-0.0%
	FG	A	-0.0%
	METCB	F	-0.0%
	USCB	B	-0.0%
	MYFW	B	-0.0%
	MCBS	B	-0.0%
	MLR	C	-0.0%
	CURV	D	-0.0%
	EPM	A	-0.0%
	FIGS	F	-0.0%
	NGS	B	-0.0%
	PSTX	D	-0.0%
	RDW	A	-0.0%
	CRDF	F	-0.0%
	ALXO	F	-0.0%
	HDSN	F	-0.0%
	SWBI	C	-0.0%
	OUST	C	-0.0%
	GMGI	C	-0.0%
	QBTS	B	-0.0%
	AHH	D	-0.0%
	OBIO	C	-0.0%
	BOOM	F	-0.0%
	FLWS	D	-0.0%
	EYE	C	-0.0%
	ITIC	A	-0.0%
	PTVE	B	-0.0%
	ARKO	C	-0.0%
	EGY	D	-0.0%
	ATNM	F	-0.0%
	HOV	D	-0.0%
	SHBI	B	-0.0%
	HQI	B	-0.0%
	CRSR	C	-0.0%
	AVO	C	-0.0%
	BMBL	C	-0.0%
	VTSI	C	-0.0%
	MAPS	B	-0.0%
	DCGO	B	-0.0%
	CLPR	D	-0.0%
	YORW	F	-0.0%
	TTSH	F	-0.0%
	OVID	F	-0.0%
	PLL	C	-0.0%
	NRDY	C	-0.0%

FESM: Top Represented Industries & Keywords

Industries: Biotechnology Banks - Regional - US Software - Application Drug Manufacturers - Specialty & Generic Medical Devices Software - Infrastructure Electronic Components Specialty Retail Diagnostics & Research Diversified Industrials Insurance - Property & Casualty Medical Instruments & Supplies Aerospace & Defense Building Materials Business Services REIT - Retail Telecom Services Asset Management Oil & Gas Equipment & Services REIT - Office

Keywords: Medicine Biopharmaceutical Biotechnology Bank Banking Cancer Clinical Medicine Deposit Products Life Sciences Computing Disease Real Estate Investment Trust Commercial Banking Insurance Pharmaceutical Telecommunications Biology Immune System Construction Mining

VTWG: Top Represented Industries & Keywords

Industries: Biotechnology Software - Application Medical Devices Software - Infrastructure Diversified Industrials Banks - Regional - US Business Services Restaurants Drug Manufacturers - Specialty & Generic Medical Instruments & Supplies Specialty Chemicals Aerospace & Defense Asset Management Diagnostics & Research Electronic Components Engineering & Construction Oil & Gas E&P Packaged Foods Building Materials Information Technology Services

Keywords: Medicine Biopharmaceutical Biotechnology Cancer Clinical Medicine Computing Life Sciences Bank Banking Construction Disease Pharmaceutical Telecommunications Biology Chemical Insurance Semiconductor Aerospace Electronics Organ Systems