IWS vs. ESML ETF Comparison

Comparison of iShares Russell Mid-cap Value ETF (IWS) to iShares MSCI USA Small-Cap ESG Optimized ETF (ESML)

IWS

iShares Russell Mid-cap Value ETF

IWS Description

The investment seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Midcap Value Index (the "underlying index"), which measures the performance of the mid-capitalization value sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$137.60

Average Daily Volume

273,438

Number of Holdings ^*

707

* 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

$44.57

Average Daily Volume

91,296

Number of Holdings ^*

904

* may have additional holdings in another (foreign) market

Performance

Period	IWS	ESML
30 Days	2.15%	3.80%
60 Days	4.02%	5.02%
90 Days	6.93%	8.82%
12 Months	29.54%	30.84%

289 Overlapping Holdings

Symbol	Grade	Weight in IWS	Weight in ESML	Overlap
AA	A	0.12%	0.19%	0.12%
AAP	D	0.02%	0.06%	0.02%
ACHC	F	0.04%	0.09%	0.04%
ADC	A	0.08%	0.11%	0.08%
ADT	B	0.02%	0.12%	0.02%
AFRM	A	0.14%	0.23%	0.14%
AGCO	F	0.06%	0.13%	0.06%
AGNC	C	0.08%	0.12%	0.08%
AGO	A	0.05%	0.06%	0.05%
AL	B	0.06%	0.1%	0.06%
ALK	A	0.07%	0.23%	0.07%
ALSN	B	0.11%	0.26%	0.11%
AM	A	0.04%	0.15%	0.04%
AMED	F	0.03%	0.09%	0.03%
AMG	B	0.06%	0.19%	0.06%
AN	D	0.05%	0.07%	0.05%
APG	C	0.09%	0.06%	0.06%
AR	B	0.1%	0.22%	0.1%
ARMK	B	0.11%	0.23%	0.11%
ARW	D	0.07%	0.09%	0.07%
ASH	F	0.04%	0.04%	0.04%
ATI	C	0.08%	0.14%	0.08%
ATR	B	0.12%	0.24%	0.12%
AVT	C	0.05%	0.27%	0.05%
AWI	A	0.05%	0.23%	0.05%
AXS	A	0.07%	0.19%	0.07%
AXTA	B	0.1%	0.27%	0.1%
AYI	B	0.11%	0.34%	0.11%
AZEK	B	0.02%	0.13%	0.02%
AZTA	D	0.02%	0.07%	0.02%
BC	F	0.06%	0.07%	0.06%
BERY	C	0.08%	0.17%	0.08%
BFAM	F	0.06%	0.2%	0.06%
BILL	A	0.07%	0.14%	0.07%
BJ	B	0.13%	0.25%	0.13%
BLD	F	0.11%	0.26%	0.11%
BPOP	C	0.07%	0.08%	0.07%
BRBR	A	0.1%	0.1%	0.1%
BRKR	F	0.02%	0.13%	0.02%
BROS	A	0.03%	0.07%	0.03%
BRX	A	0.1%	0.16%	0.1%
BWA	D	0.09%	0.18%	0.09%
BWXT	B	0.1%	0.3%	0.1%
BYD	B	0.06%	0.06%	0.06%
CACI	D	0.11%	0.21%	0.11%
CAR	C	0.01%	0.06%	0.01%
CART	C	0.08%	0.06%	0.06%
CASY	A	0.13%	0.52%	0.13%
CBSH	B	0.09%	0.23%	0.09%
CC	C	0.03%	0.05%	0.03%
CCCS	B	0.06%	0.07%	0.06%
CFR	B	0.09%	0.1%	0.09%
CGNX	D	0.07%	0.1%	0.07%
CHE	D	0.08%	0.14%	0.08%
CHH	A	0.01%	0.06%	0.01%
CIEN	B	0.11%	0.19%	0.11%
CIVI	F	0.04%	0.05%	0.04%
CLF	F	0.04%	0.06%	0.04%
CLH	C	0.14%	0.06%	0.06%
CLVT	D	0.02%	0.05%	0.02%
CMA	B	0.1%	0.21%	0.1%
CNM	C	0.03%	0.22%	0.03%
CNXC	F	0.02%	0.03%	0.02%
COHR	B	0.14%	0.28%	0.14%
COKE	C	0.08%	0.06%	0.06%
COLB	B	0.07%	0.13%	0.07%
COLD	D	0.07%	0.05%	0.05%
COLM	C	0.03%	0.07%	0.03%
CPRI	F	0.03%	0.03%	0.03%
CR	A	0.09%	0.19%	0.09%
CRI	F	0.02%	0.04%	0.02%
CROX	F	0.05%	0.15%	0.05%
CRUS	F	0.06%	0.15%	0.06%
CUBE	D	0.12%	0.2%	0.12%
CUZ	B	0.05%	0.21%	0.05%
CVNA	B	0.19%	0.48%	0.19%
CW	B	0.15%	0.23%	0.15%
CWEN	C	0.01%	0.07%	0.01%
CWEN	C	0.03%	0.07%	0.03%
CWEN	C	0.03%	0.05%	0.03%
CWEN	C	0.01%	0.05%	0.01%
CZR	F	0.09%	0.14%	0.09%
DAR	C	0.08%	0.19%	0.08%
DBX	C	0.05%	0.16%	0.05%
DCI	B	0.1%	0.25%	0.1%
DLB	B	0.05%	0.16%	0.05%
DOCS	C	0.06%	0.08%	0.06%
DTM	A	0.11%	0.28%	0.11%
DV	C	0.01%	0.1%	0.01%
DXC	C	0.04%	0.11%	0.04%
ECG	D	0.03%	0.15%	0.03%
EGP	D	0.09%	0.21%	0.09%
EHC	B	0.11%	0.29%	0.11%
ELAN	D	0.08%	0.16%	0.08%
ENOV	C	0.03%	0.08%	0.03%
EPR	D	0.04%	0.05%	0.04%
ESI	B	0.07%	0.14%	0.07%
ETSY	D	0.02%	0.1%	0.02%
EVR	B	0.12%	0.12%	0.12%
EWBC	A	0.16%	0.4%	0.16%
EXP	B	0.03%	0.06%	0.03%
FAF	A	0.07%	0.16%	0.07%
FCN	D	0.08%	0.19%	0.08%
FHN	B	0.12%	0.23%	0.12%
FIVE	F	0.01%	0.1%	0.01%
FLO	D	0.04%	0.04%	0.04%
FLS	A	0.09%	0.16%	0.09%
FMC	D	0.07%	0.14%	0.07%
FND	D	0.08%	0.2%	0.08%
FR	D	0.08%	0.09%	0.08%
FRPT	B	0.05%	0.19%	0.05%
FRT	B	0.1%	0.31%	0.1%
FTI	A	0.13%	0.35%	0.13%
FTRE	D	0.02%	0.05%	0.02%
FYBR	C	0.09%	0.13%	0.09%
GAP	D	0.05%	0.12%	0.05%
GL	C	0.11%	0.12%	0.11%
GME	C	0.11%	0.21%	0.11%
GMED	A	0.1%	0.11%	0.1%
GNRC	B	0.06%	0.22%	0.06%
GO	C	0.02%	0.05%	0.02%
GPK	D	0.09%	0.26%	0.09%
GTES	A	0.05%	0.07%	0.05%
GWRE	A	0.1%	0.43%	0.1%
GXO	B	0.08%	0.16%	0.08%
HAS	D	0.01%	0.19%	0.01%
HAYW	B	0.03%	0.05%	0.03%
HCP	B	0.01%	0.1%	0.01%
HHH	B	0.03%	0.2%	0.03%
HIW	D	0.04%	0.13%	0.04%
HOG	F	0.04%	0.2%	0.04%
HR	C	0.07%	0.08%	0.07%
HRB	D	0.07%	0.19%	0.07%
HXL	F	0.05%	0.14%	0.05%
IBKR	A	0.21%	0.32%	0.21%
INFA	C	0.02%	0.05%	0.02%
INGR	B	0.1%	0.42%	0.1%
IONS	F	0.0%	0.05%	0.0%
IRDM	F	0.03%	0.12%	0.03%
ITT	B	0.14%	0.28%	0.14%
IVZ	B	0.07%	0.24%	0.07%
JAZZ	B	0.08%	0.16%	0.08%
JEF	A	0.1%	0.11%	0.1%
JHG	B	0.06%	0.51%	0.06%
JLL	D	0.09%	0.34%	0.09%
JWN	D	0.03%	0.06%	0.03%
KBR	F	0.08%	0.35%	0.08%
KD	A	0.07%	0.1%	0.07%
KMPR	A	0.05%	0.05%	0.05%
KRC	C	0.05%	0.11%	0.05%
KSS	F	0.02%	0.05%	0.02%
LAD	B	0.11%	0.22%	0.11%
LAZ	B	0.0%	0.17%	0.0%
LBRDA	C	0.01%	0.11%	0.01%
LBRDK	C	0.08%	0.07%	0.07%
LCID	F	0.02%	0.05%	0.02%
LEA	F	0.06%	0.1%	0.06%
LECO	C	0.09%	0.2%	0.09%
LEG	F	0.02%	0.05%	0.02%
LFUS	D	0.06%	0.14%	0.06%
LITE	B	0.06%	0.1%	0.06%
LNC	B	0.07%	0.09%	0.07%
LOPE	B	0.03%	0.05%	0.03%
LPX	B	0.02%	0.17%	0.02%
LSCC	F	0.01%	0.15%	0.01%
LSTR	D	0.07%	0.21%	0.07%
LYFT	C	0.02%	0.11%	0.02%
M	F	0.05%	0.13%	0.05%
MAN	F	0.03%	0.06%	0.03%
MASI	B	0.04%	0.06%	0.04%
MAT	D	0.07%	0.13%	0.07%
MDU	D	0.04%	0.18%	0.04%
MHK	D	0.08%	0.07%	0.07%
MKSI	C	0.07%	0.14%	0.07%
MPW	F	0.03%	0.05%	0.03%
MSA	D	0.07%	0.17%	0.07%
MTG	C	0.07%	0.23%	0.07%
MTN	C	0.01%	0.2%	0.01%
MTSI	B	0.08%	0.09%	0.08%
MTZ	A	0.09%	0.17%	0.09%
NCNO	B	0.01%	0.05%	0.01%
NFG	A	0.06%	0.2%	0.06%
NOV	C	0.07%	0.15%	0.07%
NTNX	B	0.13%	0.36%	0.13%
NVST	C	0.04%	0.06%	0.04%
NVT	C	0.13%	0.19%	0.13%
NWL	B	0.04%	0.1%	0.04%
NXST	D	0.03%	0.09%	0.03%
NYT	D	0.09%	0.18%	0.09%
OGN	F	0.04%	0.09%	0.04%
OHI	C	0.11%	0.19%	0.11%
OLED	F	0.04%	0.08%	0.04%
OLLI	D	0.06%	0.12%	0.06%
OMF	A	0.07%	0.2%	0.07%
ONTO	F	0.06%	0.21%	0.06%
ORI	A	0.1%	0.13%	0.1%
OSK	C	0.08%	0.3%	0.08%
OZK	B	0.06%	0.14%	0.06%
PATH	C	0.01%	0.11%	0.01%
PENN	C	0.03%	0.05%	0.03%
PINC	B	0.03%	0.14%	0.03%
PK	D	0.03%	0.06%	0.03%
PLNT	A	0.04%	0.2%	0.04%
PNFP	B	0.1%	0.3%	0.1%
POST	C	0.06%	0.09%	0.06%
PR	B	0.08%	0.19%	0.08%
PRGO	C	0.04%	0.07%	0.04%
PRI	B	0.11%	0.23%	0.11%
PSN	D	0.05%	0.1%	0.05%
PVH	D	0.06%	0.16%	0.06%
PYCR	C	0.01%	0.06%	0.01%
QDEL	F	0.02%	0.04%	0.02%
QS	D	0.02%	0.04%	0.02%
R	B	0.08%	0.29%	0.08%
RCM	A	0.02%	0.06%	0.02%
REXR	F	0.1%	0.31%	0.1%
RGA	B	0.17%	0.3%	0.17%
RGEN	D	0.07%	0.16%	0.07%
RGLD	C	0.1%	0.29%	0.1%
RH	C	0.04%	0.06%	0.04%
RHI	C	0.08%	0.21%	0.08%
RKT	F	0.02%	0.04%	0.02%
RL	C	0.09%	0.09%	0.09%
RLI	A	0.08%	0.2%	0.08%
RNR	C	0.15%	0.24%	0.15%
ROIV	D	0.05%	0.06%	0.05%
RRC	B	0.09%	0.25%	0.09%
RRX	B	0.12%	0.15%	0.12%
RYN	D	0.05%	0.05%	0.05%
S	C	0.07%	0.12%	0.07%
SAIA	C	0.06%	0.28%	0.06%
SCI	B	0.13%	0.27%	0.13%
SEE	D	0.03%	0.07%	0.03%
SF	B	0.13%	0.18%	0.13%
SHC	F	0.02%	0.05%	0.02%
SITE	F	0.04%	0.16%	0.04%
SLM	A	0.06%	0.16%	0.06%
SNDR	A	0.02%	0.19%	0.02%
SNV	B	0.09%	0.3%	0.09%
SNX	C	0.1%	0.08%	0.08%
SOFI	A	0.13%	0.22%	0.13%
SON	D	0.05%	0.11%	0.05%
SPB	C	0.03%	0.08%	0.03%
SPR	D	0.03%	0.05%	0.03%
SSD	D	0.08%	0.1%	0.08%
ST	F	0.05%	0.08%	0.05%
STWD	C	0.07%	0.1%	0.07%
THC	C	0.16%	0.23%	0.16%
THG	A	0.06%	0.18%	0.06%
THO	C	0.06%	0.12%	0.06%
TKO	A	0.09%	0.16%	0.09%
TNL	B	0.04%	0.16%	0.04%
TOL	B	0.17%	0.27%	0.17%
TPR	B	0.14%	0.29%	0.14%
TTEK	F	0.1%	0.16%	0.1%
TXG	F	0.01%	0.03%	0.01%
U	C	0.03%	0.09%	0.03%
UAA	C	0.02%	0.05%	0.02%
UGI	C	0.06%	0.24%	0.06%
UNM	A	0.15%	0.25%	0.15%
USFD	A	0.16%	0.49%	0.16%
VAC	C	0.03%	0.08%	0.03%
VFC	C	0.08%	0.18%	0.08%
VMI	B	0.07%	0.13%	0.07%
VNO	C	0.08%	0.09%	0.08%
VNOM	A	0.04%	0.06%	0.04%
VNT	C	0.07%	0.15%	0.07%
VOYA	B	0.09%	0.16%	0.09%
VSTS	F	0.02%	0.05%	0.02%
W	D	0.04%	0.06%	0.04%
WAL	B	0.11%	0.22%	0.11%
WBS	A	0.11%	0.27%	0.11%
WCC	B	0.1%	0.24%	0.1%
WEN	D	0.02%	0.09%	0.02%
WEX	F	0.07%	0.25%	0.07%
WH	B	0.07%	0.15%	0.07%
WHR	B	0.07%	0.2%	0.07%
WMS	F	0.06%	0.21%	0.06%
WOLF	F	0.01%	0.03%	0.01%
WSC	F	0.05%	0.17%	0.05%
WTFC	B	0.09%	0.07%	0.07%
WTM	A	0.05%	0.13%	0.05%
WU	F	0.03%	0.07%	0.03%
WWD	B	0.11%	0.19%	0.11%
X	C	0.09%	0.14%	0.09%
XRAY	D	0.04%	0.05%	0.04%
YETI	D	0.03%	0.12%	0.03%
ZI	C	0.03%	0.09%	0.03%
ZION	B	0.1%	0.2%	0.1%

IWS Overweight 420 Positions Relative to ESML

Symbol	Grade	Weight
WMB	A	0.76%
OKE	A	0.7%
AFL	C	0.68%
AJG	A	0.65%
BK	B	0.64%
DLR	A	0.64%
KMI	A	0.58%
MSTR	B	0.55%
O	D	0.54%
CMI	A	0.54%
FIS	C	0.54%
DHI	D	0.53%
LHX	B	0.51%
CCI	C	0.5%
KVUE	A	0.5%
PRU	B	0.5%
PEG	A	0.49%
AME	A	0.49%
PCG	A	0.49%
SPG	A	0.48%
ALL	A	0.48%
DFS	B	0.48%
HWM	A	0.47%
BKR	A	0.47%
EA	A	0.47%
URI	B	0.46%
DAL	A	0.45%
IR	B	0.45%
CBRE	B	0.44%
OTIS	D	0.44%
LEN	D	0.44%
CTVA	C	0.43%
XEL	A	0.43%
EXC	C	0.43%
FERG	C	0.42%
CTSH	B	0.42%
KR	B	0.42%
A	F	0.41%
CHTR	B	0.4%
ACGL	D	0.4%
NUE	D	0.39%
GIS	D	0.39%
ROST	D	0.39%
GLW	B	0.39%
MTB	A	0.39%
RCL	A	0.39%
WAB	B	0.38%
DD	D	0.38%
EXR	C	0.38%
HIG	A	0.38%
HUM	C	0.37%
FANG	C	0.37%
MCHP	F	0.37%
ED	C	0.37%
GEHC	C	0.37%
MLM	B	0.37%
GRMN	B	0.36%
NDAQ	A	0.36%
AVB	B	0.36%
PWR	A	0.36%
VICI	C	0.36%
ETR	A	0.35%
EIX	C	0.35%
WTW	B	0.35%
FITB	B	0.35%
TTWO	A	0.34%
IQV	F	0.34%
DOW	F	0.34%
WEC	A	0.34%
EBAY	D	0.34%
GPN	C	0.33%
HLT	A	0.33%
ROK	B	0.33%
UAL	A	0.33%
CNC	F	0.33%
RJF	A	0.33%
PPG	F	0.32%
STT	A	0.32%
CSGP	C	0.32%
ANSS	B	0.32%
XYL	D	0.32%
PAYX	B	0.32%
ON	F	0.31%
EQR	C	0.31%
SQ	A	0.3%
HPQ	B	0.3%
HPE	B	0.3%
VMC	B	0.3%
DOV	B	0.3%
TROW	B	0.29%
KEYS	A	0.29%
HAL	C	0.29%
AWK	C	0.29%
FTV	C	0.29%
FCNCA	A	0.29%
PHM	D	0.29%
CHD	A	0.29%
SW	A	0.29%
ADM	D	0.28%
HBAN	B	0.28%
VTR	B	0.28%
SYF	B	0.28%
NVR	D	0.28%
CCL	A	0.27%
DVN	F	0.27%
RF	A	0.27%
AEE	A	0.27%
EFX	F	0.27%
RMD	C	0.27%
DTE	C	0.27%
MTD	F	0.27%
PPL	A	0.27%
YUM	D	0.26%
CINF	A	0.26%
BIIB	F	0.26%
HUBB	B	0.26%
EQT	A	0.26%
SBAC	D	0.26%
LNG	A	0.26%
FE	C	0.26%
WBD	B	0.25%
WY	D	0.25%
ZBH	C	0.25%
HSY	F	0.24%
ZM	B	0.24%
HOOD	B	0.24%
NTRS	A	0.24%
EXE	A	0.24%
ILMN	C	0.24%
LYB	F	0.24%
LDOS	C	0.24%
TDY	B	0.24%
STE	D	0.24%
ATO	A	0.24%
ES	C	0.24%
IFF	D	0.24%
WDC	F	0.23%
INVH	D	0.23%
STLD	B	0.23%
PKG	A	0.23%
CBOE	C	0.23%
K	A	0.23%
CFG	B	0.23%
LH	B	0.22%
PFG	C	0.22%
BBY	D	0.22%
IP	A	0.22%
CMS	C	0.22%
FSLR	F	0.22%
MKC	C	0.21%
OMC	D	0.21%
BALL	D	0.21%
CTRA	B	0.21%
BLDR	F	0.21%
ESS	B	0.21%
MSCI	C	0.21%
COO	D	0.21%
LUV	B	0.21%
CNP	A	0.21%
RS	B	0.2%
KEY	B	0.2%
DGX	A	0.2%
WRB	A	0.2%
HOLX	D	0.2%
WSO	A	0.2%
TSN	B	0.2%
ARE	F	0.2%
MAA	B	0.2%
SNA	B	0.2%
GPC	F	0.19%
TRMB	B	0.19%
MAS	D	0.19%
IEX	B	0.19%
J	D	0.19%
TRU	D	0.19%
PNR	B	0.19%
CSL	C	0.19%
CF	A	0.18%
FNF	D	0.18%
MRO	A	0.18%
GEN	B	0.18%
BAX	F	0.18%
KIM	A	0.18%
NI	A	0.18%
DG	F	0.18%
OC	A	0.18%
MKL	A	0.18%
L	A	0.17%
VTRS	A	0.17%
SUI	C	0.17%
ZBRA	B	0.17%
LNT	A	0.17%
SSNC	C	0.17%
TXT	D	0.17%
UTHR	C	0.17%
SYY	D	0.16%
EXPD	D	0.16%
EVRG	A	0.16%
IRM	C	0.16%
VRSN	D	0.16%
HES	B	0.16%
APTV	F	0.16%
NDSN	C	0.16%
UDR	C	0.16%
ACM	B	0.16%
DOC	D	0.16%
BRO	B	0.16%
AMCR	C	0.16%
JBHT	C	0.16%
GGG	B	0.16%
TWLO	A	0.15%
RPM	B	0.15%
NTAP	C	0.15%
EG	C	0.15%
SWKS	F	0.15%
RVTY	D	0.15%
REG	A	0.15%
VLTO	C	0.15%
FFIV	A	0.15%
EME	A	0.15%
AVTR	F	0.15%
BXP	D	0.14%
CPT	C	0.14%
JKHY	D	0.14%
AMH	C	0.14%
CAG	D	0.14%
BG	D	0.14%
CHRW	B	0.14%
GLPI	C	0.14%
DLTR	F	0.14%
JBL	C	0.14%
ELS	B	0.14%
AKAM	F	0.14%
SWK	F	0.14%
INCY	C	0.13%
AIZ	A	0.13%
KMX	C	0.13%
OVV	B	0.13%
Z	A	0.13%
UHS	D	0.13%
CAH	B	0.13%
EMN	D	0.13%
CDW	F	0.13%
FDS	B	0.13%
JNPR	D	0.13%
BMRN	F	0.13%
HST	D	0.13%
WPC	C	0.13%
ALB	B	0.13%
EPAM	C	0.13%
ALLE	D	0.13%
FOXA	B	0.12%
TECH	F	0.12%
CCK	D	0.12%
CTLT	D	0.12%
FWONK	A	0.12%
NWSA	A	0.12%
TAP	C	0.12%
PFGC	B	0.12%
SJM	D	0.12%
CG	B	0.12%
NRG	B	0.12%
CRL	D	0.11%
DOX	D	0.11%
COIN	B	0.11%
WTRG	B	0.11%
MKTX	D	0.11%
DPZ	C	0.11%
AVY	D	0.11%
AES	F	0.11%
AFG	A	0.11%
NLY	D	0.11%
LKQ	F	0.11%
RPRX	D	0.11%
DAY	B	0.11%
DKS	D	0.11%
IPG	D	0.11%
PNW	A	0.11%
ALLY	C	0.1%
AOS	F	0.1%
MGM	D	0.1%
KNX	B	0.1%
HLI	A	0.1%
AAL	B	0.1%
HSIC	C	0.1%
PTC	B	0.1%
RBC	A	0.1%
TFX	F	0.1%
WST	C	0.1%
TW	A	0.1%
FBIN	D	0.1%
SOLV	F	0.1%
DRI	C	0.1%
CNH	C	0.1%
G	B	0.09%
ACI	C	0.09%
MTCH	F	0.09%
CHRD	F	0.09%
SEIC	B	0.09%
APA	F	0.09%
FICO	A	0.09%
CPB	D	0.09%
LAMR	D	0.09%
WAT	B	0.09%
RIVN	F	0.09%
TTC	F	0.09%
MOS	D	0.09%
HRL	D	0.09%
WYNN	D	0.09%
OGE	A	0.09%
ALGN	D	0.08%
ESAB	B	0.08%
GNTX	F	0.08%
BBWI	C	0.08%
MIDD	D	0.08%
SKX	F	0.08%
FAST	B	0.08%
LW	C	0.08%
KEX	A	0.08%
ROKU	D	0.08%
PB	B	0.08%
HII	F	0.08%
NNN	C	0.08%
IDA	A	0.07%
CE	F	0.07%
WBA	F	0.07%
BIO	C	0.07%
BEN	C	0.07%
QRVO	F	0.07%
MTDR	B	0.07%
SAIC	F	0.07%
SIRI	D	0.07%
MOH	F	0.07%
PARA	D	0.07%
OKTA	D	0.07%
STAG	D	0.07%
AZPN	A	0.07%
DINO	D	0.07%
GWW	B	0.07%
WSM	C	0.07%
AMP	A	0.06%
SN	D	0.06%
EXAS	D	0.06%
RITM	D	0.06%
FOX	A	0.06%
H	B	0.06%
FNB	B	0.06%
TPG	A	0.05%
PAYC	B	0.05%
WLK	F	0.05%
EEFT	C	0.05%
SLGN	A	0.05%
OLN	F	0.05%
TKR	F	0.05%
SMG	C	0.04%
HUN	F	0.04%
ZG	A	0.04%
ALNY	D	0.04%
FHB	B	0.04%
UHAL	D	0.04%
IAC	D	0.04%
PII	F	0.04%
NWS	B	0.04%
DNB	A	0.04%
NEU	D	0.04%
MSGS	A	0.04%
MSM	D	0.04%
TYL	B	0.04%
LINE	F	0.04%
GFS	C	0.04%
ULTA	F	0.03%
ALGM	F	0.03%
BR	B	0.03%
MP	C	0.03%
AGR	A	0.03%
BOKF	B	0.03%
COTY	F	0.03%
CXT	C	0.03%
VIRT	A	0.03%
AMKR	F	0.03%
NSA	C	0.03%
PAG	C	0.03%
SNRE	D	0.03%
LLYVK	A	0.03%
AMTM	D	0.03%
BHF	B	0.03%
TER	F	0.02%
TRIP	F	0.02%
REYN	D	0.02%
EXEL	B	0.02%
UA	C	0.02%
BIRK	D	0.02%
LEN	D	0.02%
ALAB	A	0.02%
PSTG	F	0.02%
PPC	B	0.02%
LBTYK	A	0.02%
IPGP	D	0.02%
LBTYA	F	0.02%
GLOB	C	0.02%
SAM	C	0.02%
PLTK	B	0.01%
DJT	C	0.01%
CACC	D	0.01%
SEB	F	0.01%
TFSL	B	0.01%
UI	A	0.01%
CNA	C	0.01%
FWONA	A	0.01%
AS	A	0.01%
CERT	F	0.01%
LLYVA	A	0.01%
DDS	B	0.01%
LOAR	B	0.0%
PARAA	C	0.0%
UWMC	D	0.0%
SEG	B	0.0%
NFE	F	0.0%
UHAL	D	0.0%
GRAL	B	0.0%

IWS Underweight 617 Positions Relative to ESML

Symbol	Grade	Weight
SFM	B	-0.43%
FIX	A	-0.38%
MUSA	B	-0.34%
FLEX	A	-0.33%
XPO	B	-0.33%
NTRA	A	-0.31%
OGS	A	-0.31%
GBCI	B	-0.3%
BMI	B	-0.3%
SIGI	C	-0.29%
SUM	B	-0.28%
CNX	A	-0.28%
UMBF	B	-0.27%
SSB	B	-0.27%
MWA	B	-0.25%
AAON	B	-0.25%
PRGS	B	-0.24%
FTAI	A	-0.24%
MOG.A	B	-0.24%
HRI	C	-0.24%
NCLH	B	-0.24%
REZI	A	-0.23%
EXLS	B	-0.23%
FTDR	A	-0.22%
FELE	B	-0.22%
CMC	B	-0.22%
CVLT	A	-0.22%
CDP	D	-0.21%
WTS	B	-0.21%
INSM	C	-0.21%
PCVX	D	-0.21%
NJR	A	-0.21%
ITRI	B	-0.2%
CNO	B	-0.2%
BDC	B	-0.2%
KNSL	B	-0.2%
FBP	B	-0.2%
KBH	D	-0.2%
TGNA	B	-0.2%
PCTY	B	-0.2%
BHLB	B	-0.2%
ENSG	D	-0.2%
WK	C	-0.2%
ZWS	B	-0.2%
AVA	C	-0.19%
WING	F	-0.19%
LUMN	C	-0.19%
ONB	B	-0.19%
LNW	F	-0.19%
GPI	B	-0.19%
NOVT	D	-0.19%
RHP	B	-0.19%
BANR	B	-0.18%
SRPT	F	-0.18%
SPXC	A	-0.18%
GKOS	A	-0.18%
KNTK	A	-0.18%
MORN	B	-0.18%
DUOL	A	-0.18%
EPRT	A	-0.18%
ENLC	A	-0.18%
MTH	D	-0.17%
AEIS	B	-0.17%
CHX	C	-0.17%
FN	C	-0.17%
PCH	D	-0.17%
TMHC	C	-0.17%
PCOR	C	-0.17%
PEN	B	-0.17%
ESTC	C	-0.17%
PLXS	B	-0.17%
ASB	B	-0.17%
VVV	D	-0.17%
UBSI	B	-0.17%
GATX	A	-0.17%
KTB	B	-0.16%
MYRG	C	-0.16%
EAT	A	-0.16%
HQY	A	-0.16%
SPSC	D	-0.16%
ACIW	B	-0.16%
BCC	C	-0.16%
BHE	B	-0.16%
CFLT	B	-0.15%
VLY	B	-0.15%
CADE	B	-0.15%
MEDP	F	-0.15%
CPF	B	-0.15%
MMSI	A	-0.15%
FSS	B	-0.15%
ANF	F	-0.15%
FIBK	A	-0.15%
CRS	A	-0.15%
HNI	A	-0.15%
ITCI	B	-0.15%
MOD	B	-0.15%
WFRD	F	-0.15%
GTLB	B	-0.15%
BECN	B	-0.14%
CHDN	B	-0.14%
GTLS	A	-0.14%
SR	A	-0.14%
RYAN	B	-0.14%
TPH	D	-0.14%
SMAR	A	-0.14%
PRIM	A	-0.14%
ACA	A	-0.14%
ALTR	B	-0.14%
RMBS	C	-0.14%
IBCP	B	-0.14%
IDCC	B	-0.14%
ASGN	F	-0.14%
TPX	B	-0.14%
JXN	C	-0.14%
NSIT	F	-0.13%
AVAV	C	-0.13%
HESM	A	-0.13%
EPAC	B	-0.13%
CAVA	C	-0.13%
AIT	B	-0.13%
STRL	B	-0.13%
CBT	C	-0.13%
PDCO	F	-0.13%
LRN	A	-0.13%
KNF	B	-0.13%
KLIC	C	-0.13%
SWX	A	-0.13%
ITGR	B	-0.13%
CYTK	D	-0.13%
CPK	A	-0.13%
MUR	D	-0.13%
BOX	B	-0.13%
NPO	A	-0.13%
BCPC	B	-0.13%
ELF	C	-0.13%
CABO	B	-0.13%
CVBF	A	-0.12%
DFIN	D	-0.12%
QTWO	A	-0.12%
KOS	D	-0.12%
RKLB	B	-0.12%
WGO	D	-0.12%
WHD	B	-0.12%
BLKB	C	-0.12%
ABG	B	-0.12%
CRDO	C	-0.12%
WERN	B	-0.12%
MTX	C	-0.12%
HAE	C	-0.12%
FULT	B	-0.12%
CSGS	B	-0.11%
PEGA	B	-0.11%
TXRH	B	-0.11%
ORA	B	-0.11%
ABCB	B	-0.11%
AUB	B	-0.11%
VKTX	F	-0.11%
XENE	D	-0.11%
WDFC	B	-0.11%
SHOO	D	-0.11%
CRNX	B	-0.11%
APPF	C	-0.11%
ECPG	C	-0.11%
EFSC	B	-0.11%
MRCY	C	-0.11%
HALO	F	-0.11%
KAR	B	-0.11%
VC	F	-0.1%
RXO	C	-0.1%
TDC	D	-0.1%
HASI	F	-0.1%
ERII	D	-0.1%
PJT	B	-0.1%
AROC	A	-0.1%
SCL	D	-0.1%
RVMD	B	-0.1%
TENB	D	-0.1%
ALKS	C	-0.1%
TRN	B	-0.1%
FA	C	-0.1%
CAC	B	-0.1%
FUL	F	-0.1%
VECO	F	-0.1%
NXT	C	-0.1%
SLG	B	-0.1%
DY	D	-0.1%
BHVN	C	-0.1%
DNLI	D	-0.1%
DRS	B	-0.1%
APAM	B	-0.1%
CRC	A	-0.1%
PFSI	D	-0.1%
FLR	B	-0.1%
TRNO	D	-0.1%
RDUS	C	-0.1%
CCOI	B	-0.1%
RDNT	B	-0.1%
SIG	C	-0.1%
AMAL	B	-0.1%
LCII	C	-0.1%
ALTM	C	-0.1%
LNTH	C	-0.1%
RNA	C	-0.09%
ABM	B	-0.09%
NMIH	C	-0.09%
UPST	B	-0.09%
KFY	B	-0.09%
CNK	A	-0.09%
SHAK	C	-0.09%
RDN	D	-0.09%
MGRC	B	-0.09%
CURB	D	-0.09%
SLAB	F	-0.09%
OPCH	F	-0.09%
ESE	B	-0.09%
SJW	F	-0.09%
ATKR	D	-0.09%
HWC	B	-0.09%
MARA	B	-0.09%
CRVL	A	-0.09%
BRC	C	-0.09%
IMAX	A	-0.09%
IBP	D	-0.09%
POWL	C	-0.09%
EVRI	A	-0.08%
AVPT	A	-0.08%
AMWD	B	-0.08%
SBRA	B	-0.08%
BXMT	C	-0.08%
ICUI	D	-0.08%
KTOS	C	-0.08%
KOP	C	-0.08%
ICFI	F	-0.08%
AUR	C	-0.08%
EWTX	C	-0.08%
BPMC	C	-0.08%
IESC	B	-0.08%
BL	C	-0.08%
TILE	A	-0.08%
TBBK	B	-0.08%
IOSP	C	-0.08%
ACLX	C	-0.08%
CRSP	D	-0.08%
VSEC	B	-0.08%
INTA	A	-0.08%
ALG	C	-0.08%
SASR	B	-0.08%
TNET	C	-0.08%
PLYA	B	-0.08%
PRVA	C	-0.08%
LBPH	A	-0.08%
TEX	D	-0.08%
INDB	B	-0.08%
CHWY	B	-0.08%
INSP	F	-0.08%
TDS	B	-0.08%
PIPR	B	-0.08%
TARS	C	-0.08%
PRKS	B	-0.08%
BWIN	C	-0.08%
AEO	F	-0.08%
NTGR	B	-0.08%
UNIT	B	-0.08%
BOH	B	-0.08%
LNN	B	-0.08%
STC	B	-0.08%
MAC	A	-0.08%
PRCT	B	-0.08%
JBT	A	-0.08%
GVA	A	-0.08%
ZD	B	-0.08%
PLMR	A	-0.08%
MIR	A	-0.08%
RNST	B	-0.08%
DEA	D	-0.07%
AAT	A	-0.07%
SKT	A	-0.07%
EE	A	-0.07%
HI	C	-0.07%
GBX	B	-0.07%
RARE	F	-0.07%
UEC	B	-0.07%
GT	C	-0.07%
HGV	C	-0.07%
ESRT	C	-0.07%
PECO	B	-0.07%
HAFC	B	-0.07%
VSCO	A	-0.07%
TREX	C	-0.07%
CWK	C	-0.07%
BDN	C	-0.07%
ESNT	D	-0.07%
VVX	C	-0.07%
ENR	A	-0.07%
SONO	C	-0.07%
AVNT	B	-0.07%
ZYME	C	-0.07%
ROG	D	-0.07%
SEM	B	-0.07%
ALHC	C	-0.07%
HIMS	C	-0.07%
HWKN	B	-0.07%
GH	B	-0.07%
XHR	B	-0.07%
FIVN	C	-0.07%
ATRC	C	-0.07%
VCTR	B	-0.07%
HBI	A	-0.07%
CTS	C	-0.07%
WRBY	A	-0.07%
PI	D	-0.07%
SXT	C	-0.07%
NWN	A	-0.07%
AZZ	A	-0.07%
OUT	A	-0.07%
PAR	A	-0.07%
UNFI	A	-0.07%
ATGE	B	-0.06%
MTRN	C	-0.06%
CBZ	B	-0.06%
VRRM	F	-0.06%
FNA	B	-0.06%
WT	A	-0.06%
SG	B	-0.06%
TMCI	C	-0.06%
DLX	B	-0.06%
CLSK	C	-0.06%
IRON	B	-0.06%
PRO	C	-0.06%
DCO	B	-0.06%
VERA	C	-0.06%
RBBN	B	-0.06%
VRTS	B	-0.06%
PBF	D	-0.06%
SATS	D	-0.06%
MBUU	C	-0.06%
PTCT	B	-0.06%
PLAY	D	-0.06%
EXPO	D	-0.06%
AXSM	B	-0.06%
MOV	D	-0.06%
AGIO	C	-0.06%
NRIX	C	-0.06%
LXP	D	-0.06%
VRNT	D	-0.06%
POWI	D	-0.06%
CMCO	C	-0.06%
TGTX	B	-0.06%
CWAN	B	-0.06%
TDOC	C	-0.06%
ATEN	A	-0.06%
ROCK	D	-0.06%
PNTG	D	-0.06%
AIR	B	-0.06%
NBTB	B	-0.06%
CLNE	F	-0.06%
CMP	C	-0.06%
MGNI	B	-0.06%
CAKE	B	-0.06%
RUSHB	B	-0.06%
KROS	D	-0.06%
FL	F	-0.06%
VREX	B	-0.06%
ANDE	F	-0.06%
FROG	C	-0.06%
SFBS	B	-0.06%
VBTX	B	-0.06%
PEB	F	-0.06%
HELE	C	-0.06%
BOOT	D	-0.06%
SMTC	B	-0.06%
PLUS	F	-0.06%
OWL	A	-0.06%
PPBI	B	-0.06%
ACVA	A	-0.06%
SM	C	-0.06%
FLYW	B	-0.06%
IDYA	F	-0.06%
HURN	B	-0.06%
EYE	C	-0.06%
ADMA	B	-0.06%
CLB	B	-0.06%
MNKD	B	-0.06%
CCS	F	-0.06%
TALO	C	-0.06%
TGI	A	-0.06%
BKU	A	-0.06%
AVDX	B	-0.06%
FRSH	C	-0.06%
KE	C	-0.06%
ENV	B	-0.06%
FUN	B	-0.06%
KREF	D	-0.06%
VRNS	D	-0.06%
MRUS	F	-0.06%
FOUR	A	-0.06%
VRDN	D	-0.06%
VERX	A	-0.06%
PDM	D	-0.06%
PAHC	B	-0.06%
UPBD	C	-0.06%
CALM	A	-0.06%
IBOC	B	-0.06%
WD	D	-0.06%
VVI	B	-0.06%
FFIN	B	-0.06%
COMP	B	-0.06%
OII	B	-0.06%
PAYO	A	-0.06%
BANC	B	-0.06%
CBU	B	-0.06%
NARI	C	-0.06%
SWTX	C	-0.05%
KLG	D	-0.05%
RXST	F	-0.05%
EWCZ	F	-0.05%
TWST	F	-0.05%
HZO	F	-0.05%
BNL	D	-0.05%
AXL	C	-0.05%
ARVN	F	-0.05%
PBI	C	-0.05%
NUVB	C	-0.05%
THRM	F	-0.05%
ZEUS	C	-0.05%
ETNB	D	-0.05%
HLX	B	-0.05%
ALRM	C	-0.05%
PLOW	F	-0.05%
DOCN	D	-0.05%
ARKO	D	-0.05%
CECO	B	-0.05%
LEVI	F	-0.05%
ICHR	C	-0.05%
CPRX	C	-0.05%
GERN	C	-0.05%
APGE	F	-0.05%
CNMD	C	-0.05%
FLG	D	-0.05%
ARCB	C	-0.05%
CDE	C	-0.05%
GOGO	C	-0.05%
PSMT	D	-0.05%
ACEL	C	-0.05%
BASE	C	-0.05%
WNC	D	-0.05%
MLTX	C	-0.05%
SLNO	B	-0.05%
INVX	C	-0.05%
ASAN	C	-0.05%
MLNK	C	-0.05%
MODG	F	-0.05%
AI	B	-0.05%
AMBC	C	-0.05%
PTGX	D	-0.05%
BEAM	D	-0.05%
AWR	B	-0.05%
XPEL	C	-0.05%
PFS	B	-0.05%
PGRE	F	-0.05%
EDR	A	-0.05%
RUN	F	-0.05%
DGII	B	-0.05%
REVG	B	-0.05%
PRAA	D	-0.05%
HAIN	D	-0.05%
INFN	D	-0.05%
MRC	B	-0.05%
MNRO	D	-0.05%
WKC	C	-0.05%
SMP	C	-0.05%
VITL	D	-0.05%
ELVN	C	-0.05%
MTTR	B	-0.05%
KYMR	D	-0.05%
EMBC	C	-0.05%
NEO	C	-0.05%
SLVM	B	-0.05%
XPRO	F	-0.05%
RAMP	C	-0.05%
ZUO	B	-0.05%
VYX	B	-0.05%
OMCL	C	-0.05%
HCC	B	-0.05%
MMI	B	-0.05%
BGC	C	-0.05%
JANX	C	-0.05%
PDFS	D	-0.05%
CSTL	D	-0.05%
IART	C	-0.05%
MHO	D	-0.05%
PRG	B	-0.05%
FFBC	B	-0.05%
GEF	A	-0.05%
TMDX	F	-0.05%
SKY	A	-0.05%
BE	A	-0.05%
ADUS	D	-0.05%
LIVN	D	-0.05%
AORT	B	-0.05%
SMPL	B	-0.05%
SBH	B	-0.05%
MDGL	C	-0.05%
ASTE	C	-0.05%
CUBI	C	-0.05%
ARWR	D	-0.05%
KVYO	D	-0.05%
UFPT	C	-0.05%
RNG	C	-0.05%
DNOW	B	-0.05%
HLIT	F	-0.05%
TNC	F	-0.05%
ARQT	B	-0.05%
GEF	A	-0.05%
NUVL	D	-0.05%
YELP	C	-0.05%
JBGS	D	-0.05%
RUSHA	B	-0.05%
MXL	C	-0.05%
COOP	B	-0.05%
CALX	F	-0.05%
NBHC	B	-0.05%
AGYS	A	-0.05%
ALKT	B	-0.05%
PD	C	-0.05%
CRAI	B	-0.05%
RCKT	F	-0.04%
OMI	F	-0.04%
FOXF	F	-0.04%
CLW	F	-0.04%
HPP	F	-0.04%
FORM	F	-0.04%
BKD	F	-0.04%
CAL	F	-0.04%
HOUS	D	-0.04%
GPRE	F	-0.04%
FLGT	F	-0.04%
NEP	F	-0.04%
KURA	F	-0.04%
XRX	F	-0.04%
PRTA	F	-0.04%
NTLA	F	-0.04%
PGNY	F	-0.04%
CLDX	D	-0.04%
EGY	F	-0.04%
ESTA	D	-0.04%
SPT	C	-0.04%
JAMF	F	-0.04%
ARCT	F	-0.04%
CXM	C	-0.04%
TNDM	D	-0.04%
CGEM	F	-0.04%
COUR	F	-0.04%
SAVA	D	-0.04%
LESL	D	-0.04%
SIBN	F	-0.04%
SNDX	F	-0.04%
MLKN	F	-0.04%
IMVT	F	-0.04%
RCUS	F	-0.04%
NABL	F	-0.04%
MTUS	D	-0.04%
MMS	D	-0.04%
AMN	F	-0.04%
OSCR	D	-0.04%
AMC	D	-0.04%
PLUG	F	-0.04%
DYN	D	-0.04%
PLRX	D	-0.04%
HL	C	-0.04%
BBIO	F	-0.04%
DK	D	-0.04%
ARLO	C	-0.04%
ALEC	F	-0.04%
PTEN	C	-0.04%
NVCR	C	-0.04%
MEI	F	-0.04%
IVR	D	-0.04%
BRZE	C	-0.04%
LGF.A	C	-0.04%
CWT	C	-0.04%
THS	F	-0.04%
UCB	A	-0.04%
KRYS	C	-0.04%
RXRX	D	-0.04%
GRBK	D	-0.04%
TROX	D	-0.04%
COGT	D	-0.04%
AHH	D	-0.04%
EPC	F	-0.04%
NEOG	D	-0.04%
NVAX	F	-0.03%
ANAB	F	-0.03%
MEG	F	-0.03%
SITC	D	-0.03%
CDNA	D	-0.03%
SVRA	F	-0.03%
PHAT	F	-0.03%
CRMT	F	-0.03%
APLS	F	-0.03%
CCRN	F	-0.03%
MYGN	F	-0.03%
ETWO	F	-0.03%
BRY	F	-0.03%
MQ	F	-0.03%
STAA	F	-0.03%
JELD	F	-0.03%
KELYA	F	-0.03%
AGL	F	-0.02%
MC	B	-0.02%
NOVA	F	-0.02%
VSAT	F	-0.02%
DEI	A	-0.02%
SEDG	F	-0.02%
ASPN	F	-0.02%
GDOT	D	-0.01%
MAGN	F	-0.01%