SMLF vs. FAD ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to First Trust MuFirst Trust Multi CG AlphaDEX (FAD)

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

$73.06

Average Daily Volume

71,833

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

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

$148.38

Average Daily Volume

4,463

Number of Holdings ^*

640

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	FAD
30 Days	10.53%	9.58%
60 Days	10.49%	11.65%
90 Days	11.95%	14.77%
12 Months	40.74%	44.05%

250 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in FAD	Overlap
ACAD	D	0.11%	0.03%	0.03%
ACLX	C	0.17%	0.13%	0.13%
ADMA	B	0.06%	0.12%	0.06%
AFRM	A	0.07%	0.32%	0.07%
AGM	C	0.1%	0.05%	0.05%
AGNC	D	0.16%	0.08%	0.08%
AGYS	A	0.04%	0.05%	0.04%
AIT	A	0.12%	0.2%	0.12%
AIV	C	0.06%	0.05%	0.05%
ALHC	C	0.03%	0.11%	0.03%
ALLE	D	0.16%	0.12%	0.12%
ALSN	B	0.56%	0.25%	0.25%
ALX	D	0.1%	0.04%	0.04%
AM	A	0.37%	0.04%	0.04%
AMPH	D	0.07%	0.06%	0.06%
AMRX	C	0.07%	0.12%	0.07%
ANF	C	0.3%	0.17%	0.17%
APOG	B	0.11%	0.08%	0.08%
APP	B	1.49%	0.96%	0.96%
APPF	B	0.06%	0.04%	0.04%
AROC	B	0.12%	0.06%	0.06%
ATI	D	0.14%	0.18%	0.14%
AVAV	D	0.05%	0.16%	0.05%
AWR	B	0.12%	0.02%	0.02%
AX	A	0.0%	0.26%	0.0%
AXON	A	0.66%	0.63%	0.63%
AXSM	B	0.22%	0.13%	0.13%
AXTA	A	0.03%	0.09%	0.03%
AYI	B	0.35%	0.15%	0.15%
AZEK	A	0.06%	0.12%	0.06%
BANF	B	0.14%	0.08%	0.08%
BCO	D	0.06%	0.16%	0.06%
BCPC	B	0.04%	0.08%	0.04%
BCRX	D	0.11%	0.09%	0.09%
BDC	B	0.08%	0.13%	0.08%
BEAM	D	0.05%	0.02%	0.02%
BKD	D	0.03%	0.05%	0.03%
BL	B	0.16%	0.02%	0.02%
BLD	D	0.21%	0.15%	0.15%
BLKB	B	0.13%	0.08%	0.08%
BMI	B	0.16%	0.16%	0.16%
BOX	B	0.08%	0.13%	0.08%
BPMC	C	0.13%	0.08%	0.08%
BRBR	A	0.06%	0.15%	0.06%
BRC	D	0.17%	0.06%	0.06%
BRKR	D	0.14%	0.03%	0.03%
BRX	A	0.37%	0.09%	0.09%
BWXT	B	0.13%	0.15%	0.13%
CACI	D	0.02%	0.18%	0.02%
CAKE	C	0.01%	0.08%	0.01%
CARG	C	0.11%	0.08%	0.08%
CARS	B	0.08%	0.03%	0.03%
CASY	A	0.06%	0.27%	0.06%
CBSH	A	0.24%	0.1%	0.1%
CBT	C	0.12%	0.16%	0.12%
CDP	C	0.03%	0.05%	0.03%
CEIX	A	0.07%	0.06%	0.06%
CFR	B	0.25%	0.1%	0.1%
CHCO	B	0.0%	0.08%	0.0%
CHDN	B	0.1%	0.09%	0.09%
CHE	D	0.3%	0.04%	0.04%
CHWY	B	0.03%	0.1%	0.03%
CLH	B	0.07%	0.13%	0.07%
CMPR	D	0.1%	0.05%	0.05%
CNM	D	0.36%	0.04%	0.04%
CNS	B	0.03%	0.13%	0.03%
COKE	C	0.22%	0.19%	0.19%
CORT	B	0.3%	0.24%	0.24%
CPRX	C	0.24%	0.1%	0.1%
CRAI	B	0.01%	0.1%	0.01%
CRDO	B	0.1%	0.16%	0.1%
CROX	D	0.19%	0.08%	0.08%
CRS	A	0.09%	0.23%	0.09%
CRUS	D	0.11%	0.1%	0.1%
CSL	C	0.41%	0.24%	0.24%
CSWI	A	0.08%	0.23%	0.08%
CUBE	D	0.11%	0.08%	0.08%
CVLT	B	0.08%	0.22%	0.08%
CVNA	B	0.46%	0.59%	0.46%
CW	B	0.23%	0.22%	0.22%
DCI	B	0.18%	0.04%	0.04%
DECK	A	0.72%	0.27%	0.27%
DKS	C	0.38%	0.12%	0.12%
DNLI	D	0.2%	0.04%	0.04%
DOCN	D	0.02%	0.06%	0.02%
DOCS	C	0.15%	0.14%	0.14%
DTM	B	0.2%	0.11%	0.11%
DUOL	A	0.44%	0.23%	0.23%
DY	D	0.02%	0.21%	0.02%
EEFT	B	0.09%	0.09%	0.09%
EGP	F	0.09%	0.04%	0.04%
EHC	B	0.05%	0.17%	0.05%
ELAN	D	0.08%	0.04%	0.04%
EME	C	0.94%	0.49%	0.49%
ENSG	D	0.14%	0.21%	0.14%
ENVA	B	0.01%	0.14%	0.01%
EPAC	B	0.07%	0.05%	0.05%
EPR	D	0.02%	0.04%	0.02%
ESAB	B	0.18%	0.1%	0.1%
ESI	A	0.15%	0.04%	0.04%
EVH	F	0.02%	0.04%	0.02%
EWBC	A	0.39%	0.21%	0.21%
EXEL	B	0.24%	0.22%	0.22%
EXLS	B	0.23%	0.19%	0.19%
EXPO	D	0.09%	0.07%	0.07%
FBP	B	0.0%	0.09%	0.0%
FCN	D	0.04%	0.07%	0.04%
FCNCA	A	0.27%	0.4%	0.27%
FFIN	B	0.05%	0.19%	0.05%
FIX	A	0.44%	0.24%	0.24%
FLNC	C	0.07%	0.06%	0.06%
FOLD	F	0.05%	0.02%	0.02%
FR	D	0.31%	0.04%	0.04%
FSS	B	0.02%	0.16%	0.02%
GAP	B	0.23%	0.08%	0.08%
GATX	A	0.15%	0.05%	0.05%
GFF	A	0.12%	0.07%	0.07%
GH	B	0.19%	0.05%	0.05%
GKOS	B	0.07%	0.09%	0.07%
GLPI	C	0.18%	0.08%	0.08%
GME	C	0.16%	0.1%	0.1%
GMED	A	0.03%	0.19%	0.03%
GOLF	B	0.13%	0.04%	0.04%
GPK	C	0.26%	0.08%	0.08%
GWRE	A	0.01%	0.18%	0.01%
HALO	F	0.24%	0.12%	0.12%
HASI	D	0.07%	0.13%	0.07%
HEES	B	0.09%	0.06%	0.06%
HIMS	C	0.1%	0.19%	0.1%
HLI	B	0.18%	0.19%	0.18%
HNI	B	0.03%	0.12%	0.03%
HRB	D	0.4%	0.16%	0.16%
HURN	B	0.25%	0.08%	0.08%
HWKN	B	0.06%	0.12%	0.06%
IBKR	A	0.45%	0.22%	0.22%
IBOC	A	0.11%	0.15%	0.11%
IBP	D	0.04%	0.14%	0.04%
ICFI	F	0.1%	0.06%	0.06%
IDCC	B	0.09%	0.16%	0.09%
IESC	B	0.03%	0.16%	0.03%
INSM	C	0.1%	0.11%	0.1%
INSP	D	0.12%	0.1%	0.1%
INTA	A	0.27%	0.11%	0.11%
IOT	A	0.41%	0.21%	0.21%
IPAR	B	0.13%	0.04%	0.04%
ITCI	C	0.06%	0.09%	0.06%
ITGR	B	0.05%	0.17%	0.05%
ITRI	B	0.05%	0.22%	0.05%
ITT	A	0.31%	0.17%	0.17%
JAMF	F	0.01%	0.02%	0.01%
JANX	C	0.03%	0.1%	0.03%
JOE	F	0.19%	0.02%	0.02%
KAI	A	0.13%	0.15%	0.13%
KD	B	0.06%	0.05%	0.05%
KN	B	0.08%	0.07%	0.07%
KNF	A	0.07%	0.22%	0.07%
KNSL	B	0.18%	0.08%	0.08%
KRG	B	0.17%	0.08%	0.08%
KW	B	0.1%	0.05%	0.05%
LAMR	D	0.33%	0.08%	0.08%
LGND	B	0.09%	0.05%	0.05%
LMAT	A	0.02%	0.11%	0.02%
LNTH	D	0.17%	0.14%	0.14%
LNW	D	0.17%	0.04%	0.04%
LPG	F	0.04%	0.02%	0.02%
LRN	A	0.16%	0.14%	0.14%
LTH	C	0.03%	0.2%	0.03%
LYFT	C	0.1%	0.06%	0.06%
MAC	B	0.31%	0.05%	0.05%
MANH	D	0.5%	0.24%	0.24%
MASI	A	0.08%	0.05%	0.05%
MCY	A	0.06%	0.14%	0.06%
MEDP	D	0.38%	0.04%	0.04%
MGNI	A	0.03%	0.08%	0.03%
MMSI	B	0.14%	0.18%	0.14%
MOD	A	0.25%	0.2%	0.2%
MOG.A	B	0.03%	0.22%	0.03%
MSTR	C	0.73%	0.19%	0.19%
NHI	D	0.04%	0.06%	0.04%
NNN	D	0.1%	0.04%	0.04%
NSSC	D	0.08%	0.02%	0.02%
NTNX	A	0.56%	0.05%	0.05%
NTRA	B	0.4%	0.25%	0.25%
NYT	C	0.12%	0.12%	0.12%
OHI	C	0.09%	0.12%	0.09%
OII	B	0.11%	0.08%	0.08%
OSCR	D	0.08%	0.09%	0.08%
OSIS	B	0.02%	0.07%	0.02%
OUT	A	0.04%	0.1%	0.04%
PCTY	B	0.14%	0.1%	0.1%
PEGA	A	0.08%	0.19%	0.08%
PI	D	0.14%	0.14%	0.14%
PIPR	B	0.34%	0.25%	0.25%
PLNT	A	0.09%	0.15%	0.09%
POWL	C	0.38%	0.16%	0.16%
PRGS	A	0.18%	0.09%	0.09%
PRI	A	0.28%	0.14%	0.14%
PTCT	B	0.02%	0.1%	0.02%
PZZA	D	0.05%	0.02%	0.02%
REVG	B	0.03%	0.13%	0.03%
RGLD	C	0.14%	0.04%	0.04%
RHP	B	0.01%	0.09%	0.01%
RL	B	0.15%	0.18%	0.15%
RLI	B	0.03%	0.09%	0.03%
RNG	B	0.19%	0.08%	0.08%
ROIV	C	0.01%	0.04%	0.01%
RVMD	C	0.04%	0.1%	0.04%
RYAN	B	0.13%	0.13%	0.13%
S	B	0.06%	0.14%	0.06%
SATS	D	0.12%	0.11%	0.11%
SCI	B	0.14%	0.14%	0.14%
SCS	C	0.08%	0.05%	0.05%
SFBS	B	0.13%	0.24%	0.13%
SFM	A	0.6%	0.27%	0.27%
SKT	B	0.24%	0.05%	0.05%
SLG	B	0.49%	0.18%	0.18%
SLVM	B	0.02%	0.12%	0.02%
SMG	D	0.19%	0.14%	0.14%
SMTC	B	0.05%	0.1%	0.05%
SOFI	A	0.06%	0.3%	0.06%
SSD	D	0.14%	0.04%	0.04%
STRL	B	0.29%	0.15%	0.15%
SWI	B	0.01%	0.05%	0.01%
TBBK	B	0.0%	0.13%	0.0%
TGTX	B	0.03%	0.15%	0.03%
THC	D	0.31%	0.39%	0.31%
THR	B	0.05%	0.02%	0.02%
TNC	D	0.06%	0.02%	0.02%
TNL	A	0.16%	0.06%	0.06%
TOST	B	0.21%	0.23%	0.21%
TPG	A	0.2%	0.19%	0.19%
TR	B	0.01%	0.02%	0.01%
TRN	B	0.06%	0.13%	0.06%
TTEK	F	0.29%	0.18%	0.18%
TXRH	C	0.07%	0.18%	0.07%
UTHR	C	0.38%	0.42%	0.38%
VCYT	B	0.18%	0.13%	0.13%
VECO	F	0.1%	0.02%	0.02%
VITL	D	0.03%	0.08%	0.03%
VRNS	D	0.1%	0.11%	0.1%
WEN	D	0.12%	0.02%	0.02%
WING	D	0.36%	0.1%	0.1%
WSM	B	0.42%	0.15%	0.15%
WSO	A	0.31%	0.26%	0.26%
WTM	A	0.16%	0.09%	0.09%
WTTR	B	0.06%	0.09%	0.06%
WYNN	D	0.07%	0.12%	0.07%
XPRO	F	0.01%	0.02%	0.01%
YELP	C	0.06%	0.02%	0.02%
YOU	D	0.23%	0.09%	0.09%

SMLF Overweight 560 Positions Relative to FAD

Symbol	Grade	Weight
EVR	B	0.81%
JBL	B	0.55%
BPOP	B	0.53%
MLI	C	0.49%
RS	B	0.49%
NVT	B	0.49%
IDA	A	0.46%
COCO	B	0.43%
PCOR	B	0.42%
COOP	B	0.41%
LPX	B	0.41%
VNO	B	0.41%
ORI	A	0.41%
JEF	A	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
WFRD	D	0.35%
CR	A	0.35%
CAVA	B	0.34%
WK	B	0.34%
JHG	A	0.31%
HSII	B	0.31%
FLEX	A	0.31%
SOLV	C	0.31%
DDS	B	0.31%
TPR	B	0.3%
ALKS	B	0.3%
SPXC	A	0.3%
GGG	B	0.3%
EXE	B	0.29%
PSTG	D	0.29%
R	B	0.28%
AGO	B	0.27%
SN	D	0.27%
SMAR	A	0.26%
ESTC	C	0.26%
SIG	B	0.26%
AMH	D	0.25%
OVV	B	0.25%
TPX	B	0.24%
TREX	C	0.24%
RMBS	C	0.24%
AN	C	0.24%
IMKTA	C	0.24%
ZION	B	0.24%
ENTG	D	0.23%
LSCC	D	0.23%
AMG	B	0.23%
UFPI	B	0.23%
BCC	B	0.22%
SANM	B	0.22%
GPI	A	0.22%
APA	D	0.22%
RPM	A	0.22%
WS	B	0.22%
MATX	C	0.21%
RNR	C	0.21%
AR	B	0.21%
AZPN	A	0.21%
SRPT	D	0.2%
ETSY	D	0.2%
LIVN	F	0.2%
RDDT	B	0.2%
XRAY	F	0.2%
ELF	C	0.2%
ATKR	C	0.2%
RRX	B	0.2%
AGCO	D	0.2%
BBWI	D	0.2%
HAE	C	0.2%
WCC	B	0.2%
LUMN	C	0.2%
TEX	D	0.19%
M	D	0.19%
NAVI	C	0.19%
ACM	B	0.19%
MUR	D	0.19%
HAS	D	0.19%
RRC	B	0.19%
XRX	F	0.18%
ARW	D	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
USFD	A	0.18%
HIW	D	0.18%
OC	A	0.18%
FROG	C	0.18%
AVNT	B	0.18%
MMYT	B	0.17%
VOYA	B	0.17%
PVH	C	0.17%
TKR	D	0.17%
PDM	D	0.17%
PRG	C	0.17%
RHI	B	0.17%
XPO	B	0.17%
AIZ	A	0.17%
EXTR	B	0.17%
PRKS	C	0.17%
JBSS	D	0.17%
SF	B	0.17%
KIM	A	0.16%
IVT	B	0.16%
SRCE	B	0.16%
BJ	A	0.16%
SLM	A	0.16%
CVCO	A	0.16%
TOL	B	0.16%
CNO	A	0.16%
FAF	A	0.16%
OMF	A	0.16%
PGRE	F	0.16%
KFRC	D	0.16%
LBTYA	A	0.15%
GNRC	B	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
ONTO	D	0.15%
W	F	0.15%
VMI	B	0.15%
FTAI	B	0.15%
SPB	C	0.15%
ABG	B	0.15%
CWEN	C	0.15%
SKY	A	0.15%
AMR	C	0.14%
UMBF	B	0.14%
VSTO	A	0.14%
IGT	F	0.14%
NOVT	D	0.14%
IONS	F	0.14%
CMC	B	0.14%
NJR	A	0.14%
UA	B	0.14%
TTC	D	0.14%
YEXT	A	0.14%
AY	B	0.14%
SPT	C	0.14%
TPH	D	0.14%
VMEO	B	0.13%
THO	B	0.13%
NFG	A	0.13%
TNET	D	0.13%
ACCO	C	0.13%
OGS	A	0.13%
BRZE	C	0.13%
BDN	C	0.13%
QLYS	C	0.13%
FYBR	D	0.13%
NUVL	D	0.13%
AA	B	0.13%
SR	A	0.12%
MAT	D	0.12%
SAIA	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	C	0.12%
ACLS	F	0.12%
OGE	B	0.12%
BKE	B	0.12%
WH	B	0.12%
KRC	C	0.12%
NOV	C	0.12%
BSY	D	0.12%
WAFD	B	0.12%
WTS	B	0.12%
NTCT	C	0.11%
FHI	A	0.11%
CYTK	F	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
PARA	C	0.11%
SSTK	F	0.11%
PTEN	C	0.11%
DFIN	D	0.11%
LOVE	B	0.11%
MFA	D	0.11%
HTH	B	0.11%
SPSC	C	0.11%
BAND	B	0.11%
ODP	F	0.11%
CHX	C	0.11%
CXW	B	0.11%
MCB	B	0.11%
MDGL	B	0.11%
NSP	D	0.11%
MTRN	C	0.1%
ASB	B	0.1%
HP	B	0.1%
ACA	A	0.1%
DNOW	B	0.1%
BECN	B	0.1%
EXPI	C	0.1%
PNFP	B	0.1%
IVZ	B	0.1%
UGI	A	0.1%
CRC	A	0.1%
LSTR	D	0.1%
HUN	F	0.1%
HOV	D	0.1%
SYNA	C	0.1%
X	C	0.1%
WAL	B	0.1%
KLIC	B	0.1%
BERY	B	0.1%
WMS	D	0.1%
VSH	D	0.09%
CXT	B	0.09%
MTSI	B	0.09%
WSC	D	0.09%
PHIN	A	0.09%
JACK	D	0.09%
MRC	B	0.09%
MTN	C	0.09%
PCVX	D	0.09%
ATEN	B	0.09%
APG	B	0.09%
PBH	A	0.09%
HI	C	0.09%
CAR	C	0.09%
VERA	B	0.09%
LZ	D	0.09%
FLG	C	0.09%
BC	C	0.09%
ALIT	C	0.09%
TGNA	B	0.09%
TMHC	B	0.09%
INVA	D	0.09%
MTG	C	0.09%
COUR	F	0.09%
UPBD	B	0.09%
DVAX	C	0.09%
AMLX	C	0.09%
OLN	D	0.09%
WEX	D	0.09%
CUBI	B	0.09%
SON	D	0.09%
VC	D	0.08%
FIVN	C	0.08%
TENB	C	0.08%
LILA	D	0.08%
OPCH	D	0.08%
HWC	B	0.08%
VIR	D	0.08%
FLR	B	0.08%
RGEN	D	0.08%
OZK	B	0.08%
CAL	D	0.08%
MKSI	C	0.08%
FHB	A	0.08%
PD	C	0.08%
YETI	C	0.08%
GMS	B	0.08%
WOR	F	0.08%
CACC	D	0.08%
DLX	B	0.08%
VFC	C	0.08%
AGX	B	0.08%
CUZ	B	0.08%
KSS	F	0.08%
MIDD	C	0.08%
ALV	C	0.08%
CNMD	C	0.07%
UNIT	B	0.07%
EQC	B	0.07%
DH	D	0.07%
PEN	B	0.07%
EYPT	F	0.07%
MATV	D	0.07%
VAC	B	0.07%
RIG	D	0.07%
LXP	D	0.07%
POR	C	0.07%
AMPL	C	0.07%
WLY	B	0.07%
NBR	C	0.07%
NTB	B	0.07%
DOMO	C	0.07%
GCO	B	0.07%
ASH	D	0.07%
PLUS	F	0.07%
SM	B	0.07%
SNEX	B	0.07%
NARI	C	0.07%
NXST	C	0.07%
WNC	C	0.07%
NVST	B	0.06%
CC	C	0.06%
AVXL	B	0.06%
OXM	D	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
COTY	F	0.06%
FN	D	0.06%
NXT	C	0.06%
ILPT	D	0.06%
AMCX	C	0.06%
HCC	B	0.06%
CNX	A	0.06%
STWD	C	0.06%
CTBI	B	0.06%
MPW	F	0.06%
VKTX	F	0.06%
RUSHA	C	0.06%
FUN	C	0.06%
ASO	F	0.06%
LADR	B	0.06%
NSIT	F	0.06%
FLO	D	0.06%
RDN	C	0.06%
IRTC	D	0.06%
RYN	D	0.06%
ADEA	D	0.06%
SFL	D	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
MED	F	0.06%
SNV	B	0.05%
ACI	C	0.05%
CVBF	A	0.05%
SONO	C	0.05%
LBTYK	A	0.05%
TILE	B	0.05%
SITE	D	0.05%
CERS	C	0.05%
AEO	F	0.05%
BLMN	F	0.05%
AMBC	C	0.05%
PATH	C	0.05%
HOUS	D	0.05%
MERC	D	0.05%
KOS	F	0.05%
TARS	B	0.05%
ZIP	F	0.05%
VNT	B	0.05%
WBS	A	0.05%
APLS	D	0.05%
LFUS	F	0.05%
ASAN	C	0.05%
WBA	F	0.05%
PK	B	0.05%
MDXG	B	0.05%
WGO	C	0.05%
LECO	B	0.05%
CENTA	C	0.05%
ARWR	F	0.04%
MAN	D	0.04%
HPP	F	0.04%
STAG	F	0.04%
MDU	D	0.04%
DAWN	F	0.04%
CORZ	B	0.04%
PFSI	D	0.04%
KREF	D	0.04%
DIN	C	0.04%
PRGO	B	0.04%
FLYW	C	0.04%
AGS	A	0.04%
IDT	B	0.04%
ENS	D	0.04%
SANA	F	0.04%
TPB	B	0.04%
SAH	A	0.04%
ANAB	F	0.04%
NATL	B	0.04%
HELE	C	0.04%
KLG	C	0.04%
CELH	F	0.04%
ARRY	D	0.04%
ROKU	D	0.04%
BILL	A	0.04%
CFFN	B	0.04%
OMI	F	0.04%
HLF	C	0.04%
ANGI	D	0.04%
ACHC	F	0.04%
HSTM	B	0.04%
MMS	F	0.04%
FHN	A	0.04%
TDS	B	0.04%
IOSP	B	0.04%
RCUS	F	0.04%
SWIM	C	0.03%
VIAV	B	0.03%
ALRM	C	0.03%
RDFN	D	0.03%
ADT	C	0.03%
CHRD	D	0.03%
SUPN	C	0.03%
FL	F	0.03%
VNDA	C	0.03%
RGNX	F	0.03%
EVTC	B	0.03%
VCEL	B	0.03%
NX	C	0.03%
EMBC	C	0.03%
DNB	B	0.03%
BBIO	F	0.03%
QXO	D	0.03%
OFIX	B	0.03%
XHR	B	0.03%
CIEN	B	0.03%
VIRT	B	0.03%
QDEL	F	0.03%
SNBR	F	0.03%
RYI	C	0.03%
UDMY	F	0.03%
ARCH	B	0.03%
SLAB	D	0.03%
BRSP	B	0.03%
AMN	F	0.03%
ACCD	D	0.03%
CGEM	F	0.03%
IVR	F	0.03%
TCBI	B	0.03%
RPD	C	0.03%
SPRY	D	0.03%
ATRC	C	0.03%
RKT	F	0.03%
UVE	B	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	D	0.03%
CVI	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SSB	B	0.02%
MSM	C	0.02%
TSE	F	0.02%
KVYO	C	0.02%
UNFI	A	0.02%
ARCT	F	0.02%
OMER	A	0.02%
VSTS	C	0.02%
BRY	F	0.02%
DYN	F	0.02%
PRO	C	0.02%
RAMP	C	0.02%
QRTEA	F	0.02%
GPRO	F	0.02%
SAFE	D	0.02%
KFY	B	0.02%
MSA	D	0.02%
JELD	F	0.02%
EDR	A	0.02%
KRNY	B	0.02%
DAN	D	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	B	0.02%
NUS	D	0.02%
BMBL	D	0.02%
OPI	F	0.02%
IRWD	F	0.02%
WTFC	A	0.02%
MTW	C	0.02%
DBI	F	0.02%
CLVT	F	0.02%
PR	B	0.02%
RLJ	B	0.02%
PBF	D	0.02%
CRSP	D	0.02%
TLRY	F	0.02%
SITC	D	0.02%
SVC	F	0.02%
TWO	D	0.02%
CNDT	C	0.02%
OPEN	D	0.02%
SNDX	F	0.02%
WD	D	0.02%
AKRO	B	0.02%
GIII	D	0.02%
USNA	C	0.02%
LANC	C	0.02%
ARCB	C	0.02%
PDCO	D	0.02%
CALX	D	0.02%
CWK	B	0.01%
ALGM	D	0.01%
VAL	D	0.01%
DINO	D	0.01%
PGEN	F	0.01%
AIN	C	0.01%
ARR	D	0.01%
PEB	D	0.01%
PCH	D	0.01%
EPC	D	0.01%
SFIX	B	0.01%
POWI	D	0.01%
FLWS	F	0.01%
TDC	D	0.01%
MBC	D	0.01%
BIGC	C	0.01%
MLAB	D	0.01%
GO	C	0.01%
JOBY	B	0.01%
UTL	B	0.01%
WTI	F	0.01%
ZUO	B	0.01%
NWN	A	0.01%
BKH	A	0.01%
MITK	C	0.01%
NTLA	F	0.01%
VRE	B	0.01%
TTGT	C	0.01%
SWX	B	0.01%
HCAT	D	0.01%
OIS	C	0.01%
RBRK	A	0.01%
NGVT	B	0.01%
HQY	B	0.01%
HMST	D	0.01%
AXS	A	0.01%
STGW	B	0.01%
OLPX	D	0.01%
ENR	B	0.01%
BSIG	A	0.01%
GEF	A	0.01%
PYCR	C	0.01%
ASGN	F	0.01%
HTZ	C	0.01%
MBLY	C	0.01%
OSUR	F	0.01%
HAIN	C	0.01%
SWTX	C	0.01%
KALU	C	0.01%
PII	D	0.01%
NEXA	C	0.01%
BYD	C	0.01%
UPWK	B	0.01%
HXL	D	0.01%
NFBK	B	0.01%
SHO	C	0.01%
AEIS	B	0.01%
MAGN	F	0.0%
BFH	B	0.0%
MC	B	0.0%
SEE	C	0.0%
GDOT	D	0.0%
NBTB	B	0.0%
EGBN	B	0.0%
FULT	A	0.0%
EIG	B	0.0%
JXN	C	0.0%
BOH	B	0.0%
DEI	B	0.0%
TRMK	B	0.0%
GNW	A	0.0%
PFBC	B	0.0%
CASH	A	0.0%
UNM	A	0.0%
PRDO	B	0.0%
BKU	A	0.0%
CMA	A	0.0%
OFG	B	0.0%

SMLF Underweight 390 Positions Relative to FAD

Symbol	Grade	Weight
PLTR	B	-0.69%
TRGP	B	-0.57%
RCL	A	-0.55%
VRT	B	-0.52%
VST	B	-0.52%
DASH	A	-0.51%
EXPE	B	-0.51%
GDDY	A	-0.5%
GS	A	-0.5%
HOOD	B	-0.5%
KKR	A	-0.49%
FICO	B	-0.49%
HWM	A	-0.48%
BK	A	-0.46%
PWR	A	-0.46%
CCL	B	-0.45%
WAB	B	-0.45%
HEI	B	-0.44%
BURL	A	-0.44%
TT	A	-0.44%
AXP	A	-0.44%
ALL	A	-0.44%
PGR	A	-0.43%
NRG	B	-0.43%
URI	B	-0.43%
CPNG	D	-0.42%
VTR	C	-0.42%
AMP	A	-0.41%
NTRS	A	-0.41%
LYV	A	-0.41%
IRM	D	-0.41%
FI	A	-0.4%
GRMN	B	-0.4%
TMUS	B	-0.39%
RBLX	C	-0.39%
NVDA	C	-0.39%
TPL	A	-0.39%
JPM	A	-0.39%
NOW	A	-0.38%
ACGL	D	-0.37%
PM	B	-0.37%
ORCL	B	-0.37%
MSI	B	-0.37%
PH	A	-0.37%
CEG	D	-0.37%
BRO	B	-0.36%
PCG	A	-0.36%
GEN	B	-0.36%
BSX	B	-0.36%
LII	A	-0.35%
HCA	F	-0.35%
COST	B	-0.35%
CTAS	B	-0.35%
PEG	A	-0.34%
ANET	C	-0.33%
META	D	-0.33%
FSLR	F	-0.33%
RMD	C	-0.33%
CAT	B	-0.33%
SHW	A	-0.33%
IBM	C	-0.32%
GE	D	-0.32%
ERIE	D	-0.32%
AVGO	D	-0.32%
APO	B	-0.32%
NEE	D	-0.31%
COIN	C	-0.31%
TDG	D	-0.3%
ALNY	D	-0.29%
BAH	F	-0.29%
FTNT	C	-0.29%
BKNG	A	-0.29%
NFLX	A	-0.29%
GWW	B	-0.28%
HLT	A	-0.27%
ISRG	A	-0.27%
NDAQ	A	-0.27%
HUBB	B	-0.26%
AJG	B	-0.26%
BR	A	-0.26%
TTD	B	-0.26%
WELL	A	-0.26%
MCO	B	-0.25%
TJX	A	-0.25%
QTWO	A	-0.25%
BRK.A	B	-0.25%
TYL	C	-0.25%
FOUR	B	-0.24%
HLNE	B	-0.24%
RDNT	B	-0.24%
ECL	D	-0.24%
RKLB	B	-0.24%
NTAP	C	-0.24%
SPGI	C	-0.24%
LVS	C	-0.24%
SO	D	-0.24%
ICE	C	-0.24%
VLTO	D	-0.23%
UBER	D	-0.23%
PSA	D	-0.23%
KTB	B	-0.23%
TSCO	D	-0.23%
TSLA	B	-0.22%
ACIW	B	-0.22%
COHR	B	-0.22%
XYL	D	-0.22%
CL	D	-0.22%
EFX	F	-0.21%
AMT	D	-0.21%
WMB	A	-0.21%
CPAY	A	-0.2%
DVA	B	-0.2%
AAON	B	-0.2%
ADSK	A	-0.19%
MO	A	-0.19%
PODD	C	-0.19%
PSN	D	-0.19%
PANW	C	-0.19%
MAR	B	-0.19%
EAT	A	-0.19%
DELL	C	-0.19%
RSG	A	-0.18%
DOV	A	-0.18%
ORLY	B	-0.18%
SPG	B	-0.18%
APH	A	-0.18%
CRVL	A	-0.18%
ARES	A	-0.18%
ETN	A	-0.18%
AMZN	C	-0.18%
FRPT	B	-0.18%
AAPL	C	-0.17%
BOOT	D	-0.17%
ROL	B	-0.17%
TKO	B	-0.17%
MMC	B	-0.17%
CBOE	B	-0.17%
AZO	C	-0.17%
ADC	B	-0.17%
PAYO	A	-0.17%
AUR	C	-0.17%
IT	C	-0.17%
KEX	C	-0.17%
EXP	A	-0.17%
IR	B	-0.17%
ROAD	A	-0.16%
DOCU	A	-0.16%
ROST	C	-0.16%
NCLH	B	-0.16%
BFAM	D	-0.16%
MCD	D	-0.16%
VICI	C	-0.16%
EPRT	B	-0.16%
PRIM	A	-0.16%
OTIS	C	-0.16%
TRUP	B	-0.15%
AWI	A	-0.15%
KO	D	-0.15%
AMGN	D	-0.15%
GVA	A	-0.15%
LMND	B	-0.15%
WWW	B	-0.15%
O	D	-0.15%
RIVN	F	-0.15%
EXR	D	-0.15%
FTDR	A	-0.14%
FFIV	B	-0.14%
PRCT	B	-0.14%
ZETA	D	-0.14%
STEP	B	-0.14%
WHD	B	-0.14%
CNK	B	-0.14%
LLY	F	-0.14%
ATGE	B	-0.14%
PJT	A	-0.14%
USLM	A	-0.14%
HOMB	A	-0.14%
ONB	B	-0.14%
FLS	B	-0.14%
QCRH	A	-0.14%
WULF	C	-0.14%
GSHD	A	-0.13%
TW	A	-0.13%
RYTM	C	-0.13%
OLLI	D	-0.12%
CHEF	A	-0.12%
NHC	C	-0.12%
DSGR	D	-0.12%
SKWD	A	-0.12%
CALM	A	-0.12%
SBRA	C	-0.12%
DT	C	-0.12%
PBI	B	-0.12%
SKYW	B	-0.12%
WWD	B	-0.12%
MPWR	F	-0.11%
KYMR	D	-0.11%
PTGX	C	-0.11%
MWA	B	-0.11%
OSW	A	-0.11%
PRK	B	-0.11%
NBHC	B	-0.11%
PLMR	B	-0.11%
PRM	C	-0.11%
ALKT	B	-0.11%
LPLA	A	-0.11%
VCTR	B	-0.11%
RNA	D	-0.11%
SYBT	B	-0.11%
DORM	B	-0.11%
CWAN	B	-0.11%
CDE	D	-0.11%
AGIO	C	-0.11%
PTON	B	-0.11%
SGBX	F	-0.11%
LFST	C	-0.1%
AORT	B	-0.1%
CRM	B	-0.1%
CENX	B	-0.1%
RARE	D	-0.1%
SABR	C	-0.1%
CRWD	B	-0.1%
MTCH	D	-0.1%
CCOI	B	-0.1%
MIRM	B	-0.1%
MNKD	C	-0.1%
TGLS	B	-0.1%
REG	B	-0.09%
AES	F	-0.09%
TMDX	F	-0.09%
ORA	B	-0.09%
IRT	A	-0.09%
DBX	B	-0.09%
WM	A	-0.09%
CHD	B	-0.09%
ATR	B	-0.09%
MA	C	-0.09%
PAYX	C	-0.09%
GOOGL	C	-0.09%
MKTX	D	-0.09%
WDAY	B	-0.09%
MSGS	A	-0.09%
NMIH	D	-0.09%
ADP	B	-0.09%
SYK	C	-0.09%
DKNG	B	-0.09%
MKL	A	-0.09%
LITE	B	-0.09%
AON	A	-0.09%
CWST	A	-0.09%
VERX	B	-0.09%
RUN	F	-0.09%
DLR	B	-0.09%
GPN	B	-0.09%
FAST	B	-0.09%
NPAB	B	-0.09%
BLBD	D	-0.08%
SBAC	D	-0.08%
UE	C	-0.08%
MU	D	-0.08%
LIN	D	-0.08%
KMB	D	-0.08%
HRMY	D	-0.08%
QCOM	F	-0.08%
ESE	B	-0.08%
SHAK	C	-0.08%
GERN	D	-0.08%
CPT	B	-0.08%
PG	A	-0.08%
CIFR	B	-0.08%
WAT	B	-0.08%
CTRE	D	-0.08%
BGC	C	-0.08%
WT	B	-0.08%
SITM	B	-0.08%
VRTX	F	-0.08%
GABC	B	-0.08%
MSCI	C	-0.08%
AVB	B	-0.08%
SEMR	B	-0.08%
CMG	B	-0.08%
ASTH	D	-0.08%
ESS	B	-0.08%
EQIX	A	-0.08%
MBIN	D	-0.08%
UFPT	B	-0.08%
ITW	B	-0.08%
PMT	D	-0.07%
KLAC	D	-0.07%
CWT	D	-0.07%
AOS	F	-0.07%
WRBY	B	-0.07%
VRRM	D	-0.07%
ESRT	C	-0.07%
NRIX	D	-0.07%
FND	C	-0.07%
A	D	-0.07%
AAT	B	-0.07%
CCI	D	-0.07%
COLL	F	-0.07%
AZZ	B	-0.07%
KTOS	B	-0.07%
ZTS	D	-0.07%
IIPR	D	-0.06%
MGEE	C	-0.06%
DRVN	B	-0.06%
GTLS	B	-0.06%
BLFS	C	-0.06%
HLIT	D	-0.06%
CLSK	C	-0.06%
ADUS	D	-0.06%
ASPN	F	-0.06%
KNTK	B	-0.06%
IOVA	F	-0.06%
NSA	D	-0.06%
MTD	D	-0.06%
TWST	D	-0.06%
GTX	D	-0.05%
AESI	B	-0.05%
SXT	B	-0.05%
JJSF	B	-0.05%
IAS	C	-0.05%
MARA	C	-0.05%
CHH	A	-0.05%
UMH	C	-0.05%
TRMB	B	-0.05%
FCPT	C	-0.05%
LOPE	B	-0.05%
TNDM	F	-0.05%
OCUL	D	-0.05%
GTY	B	-0.05%
ARQT	C	-0.05%
NEO	C	-0.05%
NXRT	B	-0.05%
OWL	A	-0.05%
CPK	A	-0.05%
DAY	B	-0.05%
WDFC	B	-0.05%
ACVA	B	-0.05%
BANC	A	-0.05%
SXI	B	-0.05%
LKFN	B	-0.05%
PAYC	B	-0.05%
CDRE	D	-0.04%
HUMA	F	-0.04%
MYGN	F	-0.04%
PHR	F	-0.04%
NEU	C	-0.04%
UDR	B	-0.04%
H	B	-0.04%
RXST	F	-0.04%
ELME	D	-0.04%
MORN	B	-0.04%
MAIN	A	-0.04%
CRNX	C	-0.04%
NVAX	F	-0.04%
HLX	B	-0.04%
ANIP	F	-0.04%
RBC	A	-0.04%
MLNK	B	-0.03%
PLAY	D	-0.03%
APPN	B	-0.03%
LCID	F	-0.03%
APAM	B	-0.03%
SMPL	B	-0.03%
CTS	C	-0.03%
WABC	B	-0.03%
CBZ	B	-0.03%
TDW	F	-0.03%
SOUN	C	-0.03%
PAR	B	-0.03%
U	C	-0.03%
MIR	A	-0.03%
TGI	B	-0.03%
ARDX	F	-0.03%
TECH	D	-0.03%
CLDX	F	-0.02%
RLAY	F	-0.02%
AZTA	D	-0.02%
GNL	F	-0.02%
ENVX	F	-0.02%
RRR	D	-0.02%
ARLO	C	-0.02%
IRDM	D	-0.02%
BXMT	C	-0.02%
AMC	C	-0.02%
FBRT	C	-0.02%
STRA	C	-0.02%
LTC	B	-0.02%
CLB	B	-0.02%