SMLF vs. BFOR ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to Barron's 400 (BFOR)

SMLF

iShares FactorSelect MSCI USA Small-Cap ETF

SMLF Description

The investment seeks to track the investment results of the MSCI USA Small Cap Diversified Multi-Factor Index (the "underlying index"), which has been developed by MSCI Inc. ("MSCI"). The underlying index is designed to select equity securities from MSCI USA Small Cap Index (the "Parent index") that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent index. 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. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$60.19

Average Daily Volume

81,684

Number of Holdings ^*

814

* may have additional holdings in another (foreign) market

BFOR

Barron's 400

BFOR Description

The investment seeks investment results that correspond generally, before fees and expenses, to the performance of the Barron's 400 Index (the "underlying index"). The underlying index is a rules-based index intended to give investors a means of tracking the overall performance of high performing equity securities of U.S. companies. The fund will invest at least 80% of its total assets in the equity securities which comprise the index. The underlying index's stocks are constituents of the MarketGrader U.S. Coverage Universe.

Grade (RS Rating)

Last Trade

$65.18

Average Daily Volume

1,826

Number of Holdings ^*

387

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	BFOR
30 Days	-5.10%	-3.71%
60 Days	1.28%	1.26%
90 Days	-0.82%	-0.54%
12 Months	14.25%	16.46%

131 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in BFOR	Overlap
AGM	D	0.1%	0.23%	0.1%
AGYS	B	0.04%	0.32%	0.04%
AIT	D	0.1%	0.26%	0.1%
ALG	F	0.04%	0.23%	0.04%
ALSN	D	0.4%	0.25%	0.25%
AMPH	F	0.06%	0.23%	0.06%
AMR	F	0.2%	0.22%	0.2%
ANF	B	0.44%	0.38%	0.38%
APOG	D	0.1%	0.27%	0.1%
APP	C	0.45%	0.34%	0.34%
AROC	D	0.11%	0.26%	0.11%
ASO	F	0.19%	0.2%	0.19%
ATKR	F	0.42%	0.21%	0.21%
AX	D	0.17%	0.26%	0.17%
AYI	D	0.28%	0.25%	0.25%
BDC	B	0.08%	0.27%	0.08%
BKE	D	0.1%	0.24%	0.1%
BLD	B	0.27%	0.25%	0.25%
BLMN	F	0.08%	0.17%	0.08%
BMI	B	0.11%	0.29%	0.11%
BOKF	D	0.02%	0.26%	0.02%
BRC	B	0.17%	0.29%	0.17%
BRKR	F	0.19%	0.18%	0.18%
BSY	D	0.17%	0.26%	0.17%
BYD	D	0.01%	0.21%	0.01%
CAL	C	0.1%	0.22%	0.1%
CASH	B	0.03%	0.27%	0.03%
CASY	B	0.02%	0.28%	0.02%
CBT	C	0.13%	0.28%	0.13%
CELH	F	0.14%	0.22%	0.14%
CFR	D	0.22%	0.24%	0.22%
CHCO	D	0.0%	0.25%	0.0%
CHX	F	0.13%	0.25%	0.13%
CNM	C	0.36%	0.25%	0.25%
COKE	B	0.21%	0.31%	0.21%
CORT	B	0.22%	0.35%	0.22%
CPRX	C	0.19%	0.24%	0.19%
CROX	A	0.39%	0.29%	0.29%
CRUS	A	0.14%	0.32%	0.14%
CUBI	D	0.08%	0.2%	0.08%
CVI	F	0.04%	0.21%	0.04%
DCI	D	0.2%	0.26%	0.2%
DDS	D	0.33%	0.26%	0.26%
DECK	B	0.84%	0.29%	0.29%
DKS	B	0.57%	0.3%	0.3%
DNOW	D	0.14%	0.23%	0.14%
DOCS	B	0.1%	0.27%	0.1%
DY	B	0.02%	0.32%	0.02%
ELF	B	0.32%	0.23%	0.23%
EME	B	0.84%	0.3%	0.3%
ESAB	D	0.15%	0.24%	0.15%
EWBC	D	0.31%	0.24%	0.24%
EXLS	D	0.17%	0.23%	0.17%
FBP	D	0.06%	0.26%	0.06%
FCN	D	0.05%	0.27%	0.05%
FCNCA	D	0.24%	0.28%	0.24%
FIVE	F	0.04%	0.15%	0.04%
FIX	C	0.35%	0.26%	0.26%
FSS	C	0.02%	0.28%	0.02%
GES	F	0.23%	0.23%	0.23%
GGG	D	0.3%	0.21%	0.21%
GMS	D	0.08%	0.25%	0.08%
GOLF	B	0.14%	0.26%	0.14%
GPK	D	0.29%	0.25%	0.25%
HALO	B	0.26%	0.31%	0.26%
HCC	C	0.07%	0.3%	0.07%
HEES	F	0.08%	0.2%	0.08%
HIBB	A	0.08%	0.29%	0.08%
HOG	F	0.18%	0.22%	0.18%
HP	F	0.11%	0.22%	0.11%
IBKR	B	0.36%	0.29%	0.29%
IBOC	D	0.09%	0.25%	0.09%
IDCC	B	0.07%	0.28%	0.07%
INSW	C	0.04%	0.3%	0.04%
JBL	D	0.55%	0.19%	0.19%
KAI	C	0.14%	0.21%	0.14%
KNSL	F	0.16%	0.19%	0.16%
LECO	F	0.06%	0.19%	0.06%
LNTH	B	0.2%	0.32%	0.2%
LPG	C	0.07%	0.29%	0.07%
LRN	B	0.12%	0.28%	0.12%
MANH	C	0.45%	0.22%	0.22%
MCB	F	0.11%	0.25%	0.11%
MEDP	C	0.52%	0.25%	0.25%
MLI	D	0.34%	0.27%	0.27%
MOD	D	0.22%	0.28%	0.22%
NTB	C	0.07%	0.28%	0.07%
NYT	B	0.13%	0.29%	0.13%
OC	B	0.19%	0.28%	0.19%
OFG	D	0.04%	0.25%	0.04%
OSIS	C	0.02%	0.27%	0.02%
OTTR	C	0.08%	0.27%	0.08%
OXM	D	0.09%	0.24%	0.09%
OZK	F	0.07%	0.22%	0.07%
PCTY	F	0.11%	0.21%	0.11%
PEGA	D	0.06%	0.22%	0.06%
PFBC	D	0.07%	0.25%	0.07%
PRDO	C	0.04%	0.31%	0.04%
QLYS	D	0.14%	0.2%	0.14%
RL	B	0.02%	0.25%	0.02%
RNR	C	0.29%	0.24%	0.24%
RS	D	0.52%	0.23%	0.23%
SAIA	D	0.18%	0.19%	0.18%
SIG	D	0.37%	0.28%	0.28%
SLM	D	0.21%	0.25%	0.21%
SLVM	B	0.08%	0.28%	0.08%
SM	D	0.09%	0.26%	0.09%
SRCE	D	0.14%	0.25%	0.14%
SSD	D	0.14%	0.2%	0.14%
STRL	B	0.07%	0.26%	0.07%
TBBK	C	0.03%	0.22%	0.03%
TEX	D	0.23%	0.24%	0.23%
THC	B	0.3%	0.35%	0.3%
THR	D	0.06%	0.27%	0.06%
TNC	D	0.02%	0.22%	0.02%
TNET	F	0.17%	0.22%	0.17%
TOL	C	0.07%	0.25%	0.07%
TPR	B	0.25%	0.23%	0.23%
TREX	C	0.3%	0.21%	0.21%
TRGP	B	0.42%	0.28%	0.28%
TXRH	B	0.07%	0.28%	0.07%
UTHR	A	0.31%	0.28%	0.28%
VC	F	0.1%	0.23%	0.1%
WBS	F	0.04%	0.21%	0.04%
WFRD	D	0.53%	0.25%	0.25%
WIRE	B	0.34%	0.33%	0.33%
WMS	C	0.15%	0.25%	0.15%
WNC	F	0.09%	0.19%	0.09%
WSM	B	0.64%	0.31%	0.31%
WTFC	D	0.02%	0.25%	0.02%
YELP	F	0.06%	0.24%	0.06%

SMLF Overweight 683 Positions Relative to BFOR

Symbol	Grade	Weight
EVR	B	0.6%
NVT	B	0.58%
BPOP	D	0.57%
FR	D	0.57%
WING	B	0.5%
NTNX	C	0.47%
IDA	D	0.46%
LPX	B	0.45%
JEF	C	0.45%
COOP	B	0.44%
PSTG	A	0.43%
CSL	B	0.42%
AM	B	0.41%
ORI	C	0.39%
NTRA	B	0.39%
SLG	B	0.39%
SFM	B	0.39%
ITT	D	0.38%
HRB	B	0.38%
COCO	B	0.35%
CHE	D	0.34%
TTC	B	0.34%
ESTC	B	0.34%
LAMR	C	0.34%
MSTR	C	0.34%
TTEK	B	0.33%
PIPR	B	0.33%
ENTG	B	0.33%
BRX	B	0.33%
BBWI	D	0.33%
APA	F	0.32%
WK	F	0.32%
WSO	B	0.31%
LSCC	F	0.31%
VGR	B	0.31%
VNO	C	0.3%
OVV	D	0.3%
FLEX	B	0.3%
AXON	C	0.3%
IOT	F	0.29%
CHK	D	0.29%
SPXC	B	0.28%
MAC	D	0.28%
GH	B	0.28%
GME	C	0.28%
AMH	C	0.27%
IMKTA	F	0.27%
HSII	B	0.27%
SATS	C	0.27%
AN	B	0.27%
AR	B	0.27%
CR	C	0.27%
RMBS	D	0.27%
XNCR	D	0.26%
ETRN	B	0.26%
MUR	D	0.26%
CAVA	B	0.26%
JHG	B	0.25%
BJ	B	0.25%
SRPT	C	0.25%
AGCO	F	0.25%
AGO	D	0.25%
TKR	D	0.24%
TPX	D	0.24%
GPI	B	0.24%
RRC	C	0.24%
PRI	C	0.24%
LBTYA	B	0.24%
M	D	0.24%
DUOL	C	0.24%
UFPI	D	0.23%
ONTO	B	0.23%
ARW	B	0.23%
SN	B	0.23%
SMAR	C	0.23%
JBSS	D	0.23%
R	D	0.23%
JOE	D	0.23%
XP	F	0.23%
RRX	F	0.23%
ACLS	B	0.22%
AMG	D	0.22%
PVH	C	0.22%
DTM	B	0.22%
WCC	C	0.22%
INSP	D	0.22%
BCC	D	0.22%
NAVI	F	0.21%
EXPO	B	0.21%
SANM	B	0.21%
CBSH	D	0.21%
HAE	D	0.21%
AZPN	D	0.21%
NDSN	D	0.2%
RNG	D	0.2%
ALKS	C	0.2%
RPM	B	0.2%
LNW	C	0.2%
VIR	C	0.2%
AGNC	A	0.19%
TPG	C	0.19%
PRGS	F	0.19%
OMF	D	0.19%
SCI	B	0.19%
SPT	D	0.19%
KFRC	D	0.19%
VSTO	B	0.19%
PI	C	0.19%
CW	C	0.19%
XRAY	F	0.19%
ZION	D	0.19%
AA	C	0.19%
SMG	D	0.19%
AVNT	C	0.18%
SKT	D	0.18%
HLI	C	0.18%
GLPI	C	0.18%
MATX	B	0.18%
AXNX	C	0.17%
GPS	B	0.17%
DNLI	C	0.17%
NSP	F	0.17%
SPB	B	0.17%
SQSP	A	0.17%
AXSM	C	0.17%
KBR	D	0.17%
PRKS	D	0.17%
EXEL	D	0.17%
FHB	D	0.17%
VOYA	C	0.17%
EDR	A	0.17%
CMA	D	0.17%
ACM	D	0.17%
AIZ	D	0.16%
IGT	C	0.16%
ATI	C	0.16%
RHI	D	0.16%
FAF	D	0.16%
CVNA	C	0.16%
KRG	B	0.16%
AY	B	0.16%
HIW	B	0.16%
NOV	D	0.16%
ACI	F	0.16%
NXT	B	0.16%
WTM	C	0.16%
IONS	C	0.16%
USFD	C	0.16%
TPH	C	0.15%
IVT	D	0.15%
ESI	B	0.15%
ALLE	D	0.15%
NOVT	C	0.15%
RIG	F	0.15%
SSTK	C	0.15%
TNL	C	0.15%
GTLB	F	0.15%
LIVN	D	0.15%
PTEN	F	0.15%
ABG	B	0.15%
NFG	C	0.14%
HI	D	0.14%
BL	F	0.14%
UPBD	C	0.14%
RGLD	D	0.14%
VSH	D	0.14%
HUN	D	0.14%
SYNA	C	0.14%
CMC	D	0.14%
INTA	C	0.14%
EXTR	C	0.14%
HURN	C	0.14%
XPO	D	0.14%
PDM	B	0.14%
GATX	C	0.14%
FROG	C	0.14%
MMYT	B	0.14%
PRG	C	0.14%
IRWD	F	0.14%
SON	C	0.13%
WEN	F	0.13%
OLN	D	0.13%
THO	F	0.13%
SPSC	B	0.13%
CNO	C	0.13%
VMI	B	0.13%
ENSG	B	0.13%
BDN	C	0.13%
IPAR	F	0.13%
MATV	D	0.13%
PGRE	D	0.13%
BAND	D	0.13%
MTRN	F	0.13%
LILA	B	0.13%
BLKB	D	0.13%
RYAN	C	0.13%
WAL	D	0.13%
TDOC	F	0.13%
CYTK	D	0.13%
CVCO	C	0.13%
GEO	D	0.13%
XRX	F	0.13%
KIM	B	0.13%
SF	D	0.13%
KLIC	D	0.12%
OGE	B	0.12%
HTH	D	0.12%
X	F	0.12%
JACK	F	0.12%
WOR	F	0.12%
OGS	F	0.12%
SKY	C	0.12%
SR	D	0.12%
CMPR	D	0.12%
DFIN	D	0.12%
UA	D	0.12%
MAT	F	0.12%
CC	D	0.12%
GNRC	C	0.12%
MODN	B	0.12%
MDGL	B	0.11%
ASH	C	0.11%
WAFD	D	0.11%
BWXT	D	0.11%
BANF	F	0.11%
WEX	F	0.11%
CXT	C	0.11%
WSC	F	0.11%
W	F	0.11%
VRNS	C	0.11%
EEFT	C	0.11%
LSTR	D	0.11%
KSS	F	0.11%
BPMC	B	0.11%
IDT	D	0.11%
HOV	D	0.11%
VECO	A	0.11%
LOVE	C	0.11%
MRC	C	0.11%
BCRX	C	0.11%
PR	D	0.11%
KRC	F	0.11%
ALX	C	0.11%
CUBE	B	0.11%
NNN	B	0.11%
ATEN	D	0.11%
OPCH	D	0.11%
AWR	D	0.11%
CGEM	D	0.11%
FYBR	B	0.11%
ARCB	F	0.1%
SBGI	F	0.1%
SFBS	D	0.1%
LUMN	F	0.1%
SFL	C	0.1%
SITC	B	0.1%
KW	C	0.1%
WTS	D	0.1%
GFF	D	0.1%
ALIT	F	0.1%
VCYT	C	0.1%
BC	F	0.1%
EGP	C	0.1%
MFA	C	0.1%
CACC	F	0.1%
UMBF	D	0.1%
YETI	C	0.1%
HIMS	B	0.1%
MKSI	B	0.1%
CHDN	B	0.1%
CARS	B	0.1%
APG	B	0.1%
RGEN	F	0.1%
WH	C	0.1%
ICFI	D	0.1%
BERY	C	0.1%
NJR	C	0.09%
HASI	B	0.09%
DLX	B	0.09%
BRZE	F	0.09%
JXN	C	0.09%
KN	B	0.09%
APLS	D	0.09%
ACHC	F	0.09%
ACA	B	0.09%
SNDR	D	0.09%
INVA	B	0.09%
TGNA	F	0.09%
MIDD	F	0.09%
SNEX	C	0.09%
ACLX	C	0.09%
NSIT	B	0.09%
EXPI	F	0.09%
ONON	B	0.09%
MTG	C	0.09%
CRC	D	0.09%
LYFT	D	0.09%
PD	C	0.09%
ANAB	B	0.09%
IVZ	D	0.09%
CXW	F	0.09%
PII	F	0.09%
OII	F	0.09%
YOU	C	0.09%
HAS	C	0.09%
FHI	D	0.09%
FIVN	F	0.09%
SAFE	F	0.08%
BCO	B	0.08%
PCVX	B	0.08%
FLR	A	0.08%
ALV	D	0.08%
MTSI	B	0.08%
KOS	F	0.08%
IRTC	D	0.08%
ODP	F	0.08%
PBH	D	0.08%
AGS	A	0.08%
CNMD	D	0.08%
TOST	C	0.08%
NXST	D	0.08%
MPW	C	0.08%
CAR	F	0.08%
MGRC	D	0.08%
MERC	F	0.08%
BEAM	C	0.08%
NARI	C	0.08%
ASB	D	0.08%
TENB	F	0.08%
BILL	F	0.08%
AMN	D	0.08%
LAZ	D	0.08%
OHI	A	0.08%
OSCR	C	0.08%
COTY	F	0.08%
ACAD	F	0.08%
CEIX	B	0.08%
SIX	A	0.07%
AEO	D	0.07%
AIV	C	0.07%
VKTX	D	0.07%
KD	B	0.07%
YEXT	F	0.07%
HWC	D	0.07%
PNFP	D	0.07%
ADEA	B	0.07%
AZEK	C	0.07%
GCO	D	0.07%
CENTA	D	0.07%
SANA	F	0.07%
CUZ	C	0.07%
ILPT	D	0.07%
RYN	C	0.07%
TKO	B	0.07%
HLF	C	0.07%
MASI	C	0.07%
BOX	D	0.07%
EQC	B	0.07%
FLO	D	0.07%
HELE	D	0.07%
NBR	F	0.07%
MMSI	B	0.07%
AAN	C	0.07%
POR	D	0.07%
LXP	C	0.07%
PLNT	B	0.07%
VAC	F	0.07%
CALX	C	0.07%
DOMO	F	0.07%
ASGN	D	0.07%
PLUS	D	0.07%
UGI	D	0.06%
VERA	D	0.06%
VSTS	F	0.06%
NVST	F	0.06%
CNDT	F	0.06%
ASAN	F	0.06%
OMI	F	0.06%
THG	D	0.06%
WTTR	B	0.06%
HE	F	0.06%
ALGM	D	0.06%
VNT	D	0.06%
CARG	B	0.06%
MDU	C	0.06%
AMCX	C	0.06%
LFUS	B	0.06%
WGO	F	0.06%
CVLT	B	0.06%
CSWI	B	0.06%
GTLS	F	0.06%
ADT	B	0.06%
BASE	F	0.06%
PK	D	0.06%
SONO	F	0.06%
UVE	D	0.06%
PEN	F	0.06%
DOCN	C	0.06%
LADR	B	0.06%
ARRY	D	0.06%
TDC	D	0.06%
LGND	B	0.06%
AVDX	D	0.06%
HOUS	F	0.06%
CLH	A	0.06%
DVAX	D	0.06%
STWD	D	0.06%
NYCB	F	0.06%
UVV	F	0.06%
NAPA	D	0.06%
ARWR	C	0.05%
HWKN	B	0.05%
MODG	D	0.05%
GIII	F	0.05%
STNE	F	0.05%
CTBI	D	0.05%
EHC	B	0.05%
SVC	F	0.05%
ITGR	C	0.05%
WD	C	0.05%
RGNX	F	0.05%
RUSHA	D	0.05%
BECN	C	0.05%
DIN	F	0.05%
ENS	B	0.05%
MAN	D	0.05%
ACCO	D	0.05%
RCUS	B	0.05%
BKD	D	0.05%
SITE	F	0.05%
PCH	F	0.05%
FOLD	D	0.05%
STAA	C	0.05%
TLRY	F	0.05%
WLY	C	0.05%
TRN	C	0.05%
SCS	C	0.05%
PZZA	F	0.05%
SNBR	D	0.05%
IOSP	C	0.05%
CFLT	C	0.05%
MMS	B	0.05%
JOBY	D	0.05%
BRBR	C	0.05%
NRC	F	0.05%
MCY	D	0.05%
AGX	B	0.05%
ESTA	D	0.05%
DYN	B	0.05%
PNM	C	0.05%
CERS	D	0.05%
ZIP	F	0.05%
TDS	B	0.04%
SOFI	F	0.04%
KREF	F	0.04%
RPD	F	0.04%
DAN	D	0.04%
TTGT	B	0.04%
ARCH	D	0.04%
UDMY	F	0.04%
EVH	F	0.04%
SNV	D	0.04%
FFIN	D	0.04%
MDXG	D	0.04%
CFFN	C	0.04%
AMPL	F	0.04%
KNX	F	0.04%
VNDA	B	0.04%
FHN	D	0.04%
PBF	F	0.04%
PFSI	B	0.04%
AVAV	B	0.04%
SAH	B	0.04%
NATL	B	0.04%
CVBF	F	0.04%
SLAB	F	0.04%
CHRD	D	0.04%
INSM	A	0.04%
RKT	B	0.04%
LITE	B	0.04%
ACCD	F	0.04%
EVRI	D	0.04%
OPI	C	0.04%
NUS	D	0.04%
STAG	D	0.04%
NHI	B	0.04%
IVR	B	0.04%
OLED	B	0.04%
CNX	B	0.04%
BCPC	B	0.04%
UNM	D	0.04%
QDEL	F	0.04%
FLNC	C	0.04%
TPB	C	0.03%
HMST	D	0.03%
AXTA	B	0.03%
MTW	F	0.03%
TMHC	D	0.03%
DEI	D	0.03%
CNS	D	0.03%
TVTX	C	0.03%
UNIT	F	0.03%
VFC	C	0.03%
GDOT	D	0.03%
VCEL	D	0.03%
BRY	F	0.03%
MGNI	B	0.03%
EPAC	B	0.03%
LZ	F	0.03%
NEXA	B	0.03%
CDP	B	0.03%
HNI	C	0.03%
ANGI	F	0.03%
LANC	C	0.03%
XPRO	B	0.03%
OFIX	F	0.03%
TWO	B	0.03%
EVTC	D	0.03%
FFWM	F	0.03%
FNA	F	0.03%
EMBC	C	0.03%
RDFN	D	0.03%
SNDX	C	0.03%
MED	F	0.03%
CRSP	B	0.03%
CLVT	F	0.03%
ALRM	D	0.03%
RLI	D	0.03%
TSE	F	0.03%
BMBL	D	0.03%
MBLY	F	0.03%
COUR	F	0.03%
IRDM	F	0.03%
HPP	D	0.03%
XHR	D	0.03%
RH	D	0.03%
OUT	D	0.03%
RVMD	B	0.03%
TILE	D	0.03%
ATHA	C	0.03%
SYM	F	0.03%
NX	F	0.03%
ALHC	B	0.03%
FL	C	0.03%
BRSP	F	0.03%
AVXL	F	0.03%
USNA	D	0.03%
DAR	F	0.03%
GNW	D	0.03%
PGEN	B	0.03%
FLYW	F	0.03%
PDCO	F	0.03%
DH	F	0.02%
AGEN	C	0.02%
OI	F	0.02%
ITCI	D	0.02%
AEIS	B	0.02%
OPEN	F	0.02%
SWTX	D	0.02%
BBIO	C	0.02%
SHO	D	0.02%
OMER	B	0.02%
CPRI	F	0.02%
ERAS	C	0.02%
STRO	F	0.02%
MSM	F	0.02%
HXL	D	0.02%
HAIN	C	0.02%
CTRN	F	0.02%
SWIM	B	0.02%
KALU	D	0.02%
KFY	B	0.02%
SCHL	F	0.02%
SPRY	D	0.02%
NTLA	C	0.02%
WS	F	0.02%
TRMK	D	0.02%
PTCT	C	0.02%
AMSF	F	0.02%
AMBC	F	0.02%
MSEX	D	0.02%
AKRO	C	0.02%
ENVA	D	0.02%
PRGO	F	0.02%
EIG	D	0.02%
ATRC	F	0.02%
DBI	F	0.02%
EPR	D	0.02%
VIRT	B	0.02%
CIEN	F	0.02%
PLCE	D	0.02%
MSA	C	0.02%
SAM	C	0.02%
VIAV	F	0.02%
RAMP	F	0.02%
SUPN	F	0.02%
LTH	B	0.02%
BOH	F	0.02%
KLG	F	0.02%
TROX	B	0.02%
PRO	F	0.02%
GMED	B	0.02%
PRTA	F	0.02%
BKU	C	0.02%
DBRG	F	0.02%
GPRO	F	0.02%
TCBI	D	0.02%
ATRI	C	0.02%
NTCT	F	0.02%
DNB	F	0.02%
RLJ	D	0.02%
SSP	F	0.01%
EGRX	F	0.01%
NVRO	F	0.01%
CWK	B	0.01%
HMN	D	0.01%
SEE	C	0.01%
HTZ	F	0.01%
NFBK	F	0.01%
OIS	F	0.01%
NBTB	D	0.01%
GO	F	0.01%
TGTX	B	0.01%
MC	D	0.01%
HCAT	C	0.01%
KNF	C	0.01%
JAMF	D	0.01%
MBC	D	0.01%
MATW	F	0.01%
PEB	D	0.01%
NUVL	B	0.01%
NWN	F	0.01%
SWI	B	0.01%
DINO	D	0.01%
UTL	D	0.01%
ADPT	D	0.01%
CAKE	B	0.01%
ARR	B	0.01%
VRE	C	0.01%
BKH	D	0.01%
POWI	C	0.01%
UPWK	F	0.01%
BSIG	C	0.01%
QRTEA	F	0.01%
PYCR	F	0.01%
HYFM	F	0.01%
NGVT	F	0.01%
BIGC	C	0.01%
TR	F	0.01%
HZO	C	0.01%
HQY	B	0.01%
ROIV	D	0.01%
DAWN	F	0.01%
EPC	B	0.01%
AXS	B	0.01%
WTI	F	0.01%
ENR	D	0.01%
UNFI	C	0.01%
SSB	D	0.01%
STGW	C	0.01%
AIN	D	0.01%
VAL	C	0.01%
CHWY	C	0.01%
FLWS	B	0.01%
GEF	F	0.01%
SWX	D	0.01%
RHP	D	0.01%
ETNB	F	0.01%
PARA	F	0.01%
RDN	C	0.01%
RXT	B	0.01%
WOOF	C	0.01%
KRNY	F	0.01%
CACI	A	0.01%
NMRA	F	0.01%
MITK	F	0.01%
VMEO	C	0.0%
EGBN	F	0.0%
FBNC	D	0.0%
PAYO	B	0.0%
FULT	D	0.0%
BFH	B	0.0%
ALLO	F	0.0%

SMLF Underweight 256 Positions Relative to BFOR

Symbol	Grade	Weight
FSLR	B	-0.41%
BOOT	B	-0.37%
VST	B	-0.37%
NVDA	A	-0.35%
VRT	D	-0.33%
TNK	B	-0.33%
NSSC	B	-0.32%
GOOGL	A	-0.32%
UFPT	B	-0.32%
HY	B	-0.32%
SLCA	B	-0.32%
FCX	D	-0.31%
WWD	B	-0.31%
UAL	C	-0.31%
IESC	D	-0.31%
NTAP	A	-0.3%
CPNG	D	-0.3%
COST	A	-0.3%
PRFT	B	-0.3%
APH	A	-0.3%
CMG	A	-0.3%
QCOM	A	-0.3%
RCL	B	-0.3%
GDDY	B	-0.3%
AAPL	B	-0.29%
VRRM	C	-0.29%
GM	B	-0.29%
VRTX	A	-0.29%
BSX	A	-0.29%
LMB	B	-0.29%
AMAT	A	-0.28%
ISRG	A	-0.28%
WMB	A	-0.28%
RMD	B	-0.28%
TJX	A	-0.28%
ACGL	B	-0.28%
RGA	B	-0.28%
VLTO	A	-0.28%
FTDR	B	-0.28%
PYPL	D	-0.28%
USLM	B	-0.28%
PEG	B	-0.28%
WES	B	-0.28%
TPL	B	-0.28%
LPLA	B	-0.27%
KO	B	-0.27%
PANW	B	-0.27%
JPM	C	-0.27%
BRO	A	-0.27%
NFLX	A	-0.27%
LBRT	D	-0.27%
CL	A	-0.27%
ECL	A	-0.27%
BY	B	-0.27%
BURL	B	-0.27%
BKNG	A	-0.27%
XOM	D	-0.27%
AMZN	B	-0.27%
BBW	D	-0.27%
LOPE	C	-0.27%
LII	A	-0.27%
TSCO	B	-0.27%
XYL	B	-0.27%
AVGO	A	-0.27%
GPOR	C	-0.27%
CION	A	-0.27%
ANET	A	-0.27%
CTAS	A	-0.27%
MSI	A	-0.27%
ROL	A	-0.26%
CNA	C	-0.26%
PNC	D	-0.26%
TW	D	-0.26%
TGLS	D	-0.26%
MGY	D	-0.26%
WFC	D	-0.26%
DMLP	D	-0.26%
GRBK	C	-0.26%
MCHP	C	-0.26%
VLO	D	-0.26%
SYF	D	-0.26%
MTB	D	-0.26%
HIG	B	-0.26%
SMLR	B	-0.26%
EBAY	B	-0.26%
FANG	D	-0.26%
AMAL	B	-0.26%
APO	B	-0.26%
ADP	C	-0.26%
CHD	A	-0.26%
DOV	C	-0.26%
GRNT	F	-0.26%
PEP	D	-0.26%
MPWR	A	-0.26%
POWL	C	-0.26%
MSFT	A	-0.26%
MCO	B	-0.26%
BCSF	B	-0.26%
AXP	D	-0.26%
NBHC	B	-0.26%
DVA	B	-0.26%
PODD	B	-0.26%
CFB	D	-0.25%
HESM	C	-0.25%
BR	D	-0.25%
PKG	B	-0.25%
RMR	D	-0.25%
HSY	F	-0.25%
FCF	D	-0.25%
CQP	D	-0.25%
SYK	B	-0.25%
QCRH	D	-0.25%
TROW	B	-0.25%
CAT	D	-0.25%
G	D	-0.25%
IRMD	B	-0.25%
FITB	D	-0.25%
STBA	D	-0.25%
CPRT	D	-0.25%
INGR	D	-0.25%
CINF	D	-0.25%
MBWM	D	-0.25%
ROST	B	-0.25%
L	D	-0.25%
HRMY	F	-0.25%
V	D	-0.25%
CALM	C	-0.25%
ESGR	C	-0.25%
HBAN	D	-0.25%
WSFS	D	-0.25%
EA	B	-0.25%
KKR	B	-0.25%
PHM	B	-0.25%
EG	D	-0.25%
EPD	C	-0.25%
PAYX	B	-0.25%
SYBT	B	-0.25%
MPLX	B	-0.25%
BKR	D	-0.25%
SNPS	B	-0.25%
OSBC	D	-0.25%
META	B	-0.25%
J	D	-0.24%
PCAR	D	-0.24%
WRB	D	-0.24%
LEN	D	-0.24%
GNTX	D	-0.24%
HUBB	D	-0.24%
RF	C	-0.24%
AOS	C	-0.24%
JKHY	D	-0.24%
OSK	D	-0.24%
GPC	D	-0.24%
MGM	D	-0.24%
STZ	C	-0.24%
APAM	D	-0.24%
NVR	C	-0.24%
NKE	C	-0.24%
CDNS	B	-0.24%
PFC	D	-0.24%
MA	D	-0.24%
HOMB	D	-0.24%
EFSC	D	-0.24%
ZTS	C	-0.24%
AMK	C	-0.24%
PH	D	-0.24%
MPC	D	-0.24%
URI	D	-0.24%
STLD	D	-0.24%
UTI	D	-0.24%
ONB	D	-0.24%
NBIX	C	-0.24%
FFBC	D	-0.24%
INCY	B	-0.24%
A	D	-0.23%
ZM	F	-0.23%
AAON	C	-0.23%
BTU	D	-0.23%
SYY	D	-0.23%
IDXX	C	-0.23%
CATY	D	-0.23%
CSCO	F	-0.23%
SNA	D	-0.23%
RPRX	D	-0.23%
DHI	D	-0.23%
CF	D	-0.23%
MBIN	D	-0.23%
NVEC	D	-0.23%
PSX	D	-0.23%
NOW	C	-0.23%
MLM	C	-0.23%
PSN	C	-0.23%
GWW	C	-0.23%
VYGR	C	-0.23%
VMC	C	-0.23%
HAL	F	-0.23%
IPG	F	-0.23%
TFX	D	-0.23%
MDLZ	D	-0.23%
GILD	D	-0.22%
FDS	D	-0.22%
FAST	D	-0.22%
GNE	F	-0.22%
PAX	F	-0.22%
NUE	F	-0.22%
DRI	D	-0.22%
FOR	D	-0.22%
MSCI	D	-0.22%
DXCM	D	-0.22%
NEU	D	-0.22%
INTU	C	-0.22%
CPAY	D	-0.22%
WST	D	-0.22%
COLL	D	-0.22%
ON	C	-0.22%
IBM	C	-0.22%
PLAB	F	-0.22%
IBP	C	-0.22%
MNST	F	-0.22%
JBI	D	-0.22%
WDFC	D	-0.22%
KEYS	D	-0.22%
EXP	D	-0.22%
CMCSA	F	-0.22%
ABNB	D	-0.22%
MTDR	D	-0.22%
DOX	F	-0.21%
ADSK	C	-0.21%
ADBE	C	-0.21%
UAA	D	-0.21%
LW	C	-0.21%
FTNT	D	-0.21%
ARCT	C	-0.21%
IQV	D	-0.21%
RES	F	-0.21%
FOUR	C	-0.21%
FFIV	D	-0.21%
LVS	F	-0.21%
CTSH	D	-0.21%
ACMR	C	-0.2%
PAYC	F	-0.2%
VEEV	D	-0.2%
ZYXI	F	-0.19%
BLDR	D	-0.19%
BMY	F	-0.19%
MOH	F	-0.19%
JAKK	F	-0.19%
ODFL	D	-0.19%
ULTA	D	-0.18%
PARR	F	-0.18%
SMCI	C	-0.18%
NFE	F	-0.18%
DFH	D	-0.17%
TWI	F	-0.16%
GL	D	-0.16%
SHLS	F	-0.13%