SMLF vs. IUSV ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to iShares Core U.S. Vaue ETF (IUSV)

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

71,849

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

IUSV

iShares Core U.S. Vaue ETF

IUSV Description

The investment seeks to track the investment results of a broad-based index composed of 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 3000 Value Index (the "underlying index"), which measures the performance of the value sector of the broad U.S. equity market.

Grade (RS Rating)

Last Trade

$98.97

Average Daily Volume

517,714

Number of Holdings ^*

727

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	IUSV
30 Days	10.53%	3.05%
60 Days	10.49%	4.28%
90 Days	11.95%	6.30%
12 Months	40.74%	27.24%

201 Overlapping Holdings

	Symbol	Grade	Weight in SMLF	Weight in IUSV	Overlap
	AA	B	0.13%	0.05%	0.05%
	ACM	A	0.19%	0.04%	0.04%
	AGCO	D	0.2%	0.03%	0.03%
	AIZ	A	0.17%	0.05%	0.05%
	ALGM	D	0.01%	0.01%	0.01%
	ALLE	D	0.16%	0.03%	0.03%
	ALV	C	0.08%	0.01%	0.01%
	AM	A	0.37%	0.01%	0.01%
	AMG	B	0.23%	0.02%	0.02%
	AMH	D	0.25%	0.02%	0.02%
	AN	C	0.24%	0.02%	0.02%
	AR	B	0.21%	0.04%	0.04%
	ARW	D	0.18%	0.03%	0.03%
	ASB	B	0.1%	0.02%	0.02%
	ASGN	F	0.01%	0.02%	0.01%
	ASH	D	0.07%	0.02%	0.02%
	AVNT	B	0.18%	0.02%	0.02%
	AYI	B	0.35%	0.02%	0.02%
	AZPN	A	0.21%	0.01%	0.01%
	BC	C	0.09%	0.01%	0.01%
	BDC	B	0.08%	0.02%	0.02%
	BERY	B	0.1%	0.03%	0.03%
	BJ	A	0.16%	0.05%	0.05%
	BKH	A	0.01%	0.02%	0.01%
	BLKB	B	0.13%	0.01%	0.01%
	BRBR	A	0.06%	0.02%	0.02%
	BRKR	D	0.14%	0.01%	0.01%
	BRX	A	0.37%	0.02%	0.02%
	CACI	D	0.02%	0.03%	0.02%
	CBSH	A	0.24%	0.02%	0.02%
	CBT	C	0.12%	0.01%	0.01%
	CC	C	0.06%	0.01%	0.01%
	CDP	C	0.03%	0.01%	0.01%
	CFR	B	0.25%	0.02%	0.02%
	CHE	D	0.3%	0.01%	0.01%
	CHWY	B	0.03%	0.01%	0.01%
	CHX	C	0.11%	0.01%	0.01%
	CIEN	B	0.03%	0.03%	0.03%
	CMC	B	0.14%	0.03%	0.03%
	CNM	D	0.36%	0.02%	0.02%
	CNO	A	0.16%	0.02%	0.02%
	CRUS	D	0.11%	0.01%	0.01%
	CUBE	D	0.11%	0.02%	0.02%
	CUZ	B	0.08%	0.02%	0.02%
	CVLT	B	0.08%	0.01%	0.01%
	CW	B	0.23%	0.02%	0.02%
	CXT	B	0.09%	0.01%	0.01%
	CYTK	F	0.11%	0.01%	0.01%
	DCI	B	0.18%	0.02%	0.02%
	DINO	D	0.01%	0.03%	0.01%
	DKS	C	0.38%	0.02%	0.02%
	DOCS	C	0.15%	0.01%	0.01%
	DTM	B	0.2%	0.02%	0.02%
	EEFT	B	0.09%	0.01%	0.01%
	EGP	F	0.09%	0.01%	0.01%
	EHC	B	0.05%	0.02%	0.02%
	ENS	D	0.04%	0.01%	0.01%
	EPR	D	0.02%	0.01%	0.01%
	EVR	B	0.81%	0.01%	0.01%
	EWBC	A	0.39%	0.03%	0.03%
	EXE	B	0.29%	0.09%	0.09%
	EXLS	B	0.23%	0.01%	0.01%
	EXPO	D	0.09%	0.01%	0.01%
	FAF	A	0.16%	0.03%	0.03%
	FFIN	B	0.05%	0.01%	0.01%
	FHI	A	0.11%	0.01%	0.01%
	FHN	A	0.04%	0.05%	0.04%
	FLG	C	0.09%	0.01%	0.01%
	FLO	D	0.06%	0.02%	0.02%
	FLR	B	0.08%	0.04%	0.04%
	FR	C	0.31%	0.02%	0.02%
	FYBR	D	0.13%	0.03%	0.03%
	GAP	C	0.23%	0.02%	0.02%
	GATX	A	0.15%	0.02%	0.02%
	GEF	A	0.01%	0.01%	0.01%
	GLPI	C	0.18%	0.03%	0.03%
	GME	C	0.16%	0.05%	0.05%
	GMED	A	0.03%	0.04%	0.03%
	GNRC	B	0.15%	0.02%	0.02%
	GPK	C	0.26%	0.04%	0.04%
	HAE	C	0.2%	0.01%	0.01%
	HAS	D	0.19%	0.04%	0.04%
	HOG	D	0.15%	0.02%	0.02%
	HQY	B	0.01%	0.02%	0.01%
	HWC	B	0.08%	0.01%	0.01%
	HXL	D	0.01%	0.01%	0.01%
	IBKR	A	0.45%	0.04%	0.04%
	IBOC	A	0.11%	0.01%	0.01%
	IDA	A	0.46%	0.02%	0.02%
	IVZ	B	0.1%	0.04%	0.04%
	JBL	B	0.55%	0.03%	0.03%
	JEF	A	0.4%	0.05%	0.05%
	JHG	A	0.31%	0.02%	0.02%
	KBR	F	0.12%	0.02%	0.02%
	KD	B	0.06%	0.03%	0.03%
	KIM	A	0.16%	0.07%	0.07%
	KNF	A	0.07%	0.01%	0.01%
	KRC	C	0.12%	0.02%	0.02%
	KRG	B	0.17%	0.03%	0.03%
	LAMR	D	0.33%	0.02%	0.02%
	LANC	C	0.02%	0.01%	0.01%
	LFUS	F	0.05%	0.01%	0.01%
	LIVN	F	0.2%	0.01%	0.01%
	LPX	B	0.41%	0.01%	0.01%
	LSTR	D	0.1%	0.01%	0.01%
	M	D	0.19%	0.02%	0.02%
	MAGN	F	0.0%	0.0%	0.0%
	MAN	D	0.04%	0.01%	0.01%
	MASI	A	0.08%	0.01%	0.01%
	MAT	D	0.12%	0.02%	0.02%
	MIDD	C	0.08%	0.02%	0.02%
	MKSI	C	0.08%	0.02%	0.02%
	MMS	F	0.04%	0.01%	0.01%
	MSM	C	0.02%	0.01%	0.01%
	MTG	C	0.09%	0.02%	0.02%
	MTN	C	0.09%	0.01%	0.01%
	MTSI	B	0.09%	0.01%	0.01%
	MUR	D	0.19%	0.01%	0.01%
	NDSN	B	0.18%	0.06%	0.06%
	NFG	A	0.13%	0.03%	0.03%
	NJR	A	0.14%	0.02%	0.02%
	NNN	D	0.1%	0.02%	0.02%
	NOV	C	0.12%	0.03%	0.03%
	NOVT	D	0.14%	0.01%	0.01%
	NSP	D	0.11%	0.01%	0.01%
	NVST	B	0.06%	0.02%	0.02%
	NXST	C	0.07%	0.02%	0.02%
	OGE	B	0.12%	0.04%	0.04%
	OGS	A	0.13%	0.02%	0.02%
	OHI	C	0.09%	0.03%	0.03%
	OLN	D	0.09%	0.01%	0.01%
	OPCH	D	0.08%	0.01%	0.01%
	ORI	A	0.41%	0.04%	0.04%
	OZK	B	0.08%	0.01%	0.01%
	PARA	C	0.11%	0.03%	0.03%
	PBF	D	0.02%	0.01%	0.01%
	PCH	D	0.01%	0.01%	0.01%
	PII	D	0.01%	0.02%	0.01%
	PNFP	B	0.1%	0.02%	0.02%
	POR	C	0.07%	0.02%	0.02%
	POWI	D	0.01%	0.01%	0.01%
	PRGO	B	0.04%	0.02%	0.02%
	PVH	C	0.17%	0.02%	0.02%
	R	B	0.28%	0.03%	0.03%
	RGLD	C	0.14%	0.02%	0.02%
	RL	B	0.15%	0.02%	0.02%
	RLI	B	0.03%	0.01%	0.01%
	RNR	C	0.21%	0.03%	0.03%
	ROIV	C	0.01%	0.01%	0.01%
	RPM	A	0.22%	0.04%	0.04%
	RRX	B	0.2%	0.05%	0.05%
	RYN	D	0.06%	0.01%	0.01%
	SCI	B	0.14%	0.03%	0.03%
	SF	B	0.17%	0.05%	0.05%
	SFM	A	0.6%	0.04%	0.04%
	SLM	A	0.16%	0.01%	0.01%
	SMG	D	0.19%	0.01%	0.01%
	SNV	B	0.05%	0.04%	0.04%
	SOLV	C	0.31%	0.04%	0.04%
	SON	D	0.09%	0.02%	0.02%
	SR	A	0.12%	0.02%	0.02%
	SRPT	D	0.2%	0.01%	0.01%
	SSB	B	0.02%	0.04%	0.02%
	STAG	F	0.04%	0.01%	0.01%
	STWD	C	0.06%	0.03%	0.03%
	SWX	B	0.01%	0.02%	0.01%
	SYNA	C	0.1%	0.01%	0.01%
	TCBI	B	0.03%	0.02%	0.02%
	TEX	D	0.19%	0.01%	0.01%
	THC	D	0.31%	0.06%	0.06%
	THO	B	0.13%	0.03%	0.03%
	TKR	D	0.17%	0.01%	0.01%
	TMHC	B	0.09%	0.03%	0.03%
	TNL	A	0.16%	0.01%	0.01%
	TPR	B	0.3%	0.06%	0.06%
	TTC	D	0.14%	0.02%	0.02%
	TXNM	A	0.11%	0.02%	0.02%
	UA	C	0.14%	0.0%	0.0%
	UGI	A	0.1%	0.02%	0.02%
	UMBF	B	0.14%	0.02%	0.02%
	UNM	A	0.0%	0.05%	0.0%
	USFD	A	0.18%	0.07%	0.07%
	UTHR	C	0.38%	0.04%	0.04%
	VAC	B	0.07%	0.01%	0.01%
	VC	D	0.08%	0.01%	0.01%
	VMI	B	0.15%	0.03%	0.03%
	VNO	B	0.41%	0.03%	0.03%
	VOYA	B	0.17%	0.02%	0.02%
	VSH	D	0.09%	0.01%	0.01%
	WAL	B	0.1%	0.02%	0.02%
	WBA	F	0.05%	0.03%	0.03%
	WBS	A	0.05%	0.05%	0.05%
	WCC	B	0.2%	0.04%	0.04%
	WEN	D	0.12%	0.01%	0.01%
	WH	B	0.12%	0.01%	0.01%
	WTFC	A	0.02%	0.04%	0.02%
	X	C	0.1%	0.04%	0.04%
	XPO	B	0.17%	0.04%	0.04%
	XRAY	F	0.2%	0.02%	0.02%
	YETI	C	0.08%	0.01%	0.01%
	ZION	B	0.24%	0.04%	0.04%

SMLF Overweight 609 Positions Relative to IUSV

	Symbol	Grade	Weight
	APP	B	1.49%
	EME	C	0.94%
	MSTR	C	0.73%
	DECK	A	0.72%
	AXON	A	0.66%
	ALSN	B	0.56%
	NTNX	A	0.56%
	BPOP	B	0.53%
	MANH	D	0.5%
	SLG	B	0.49%
	MLI	C	0.49%
	RS	B	0.49%
	NVT	B	0.49%
	CVNA	B	0.46%
	FIX	A	0.44%
	DUOL	A	0.44%
	COCO	B	0.43%
	WSM	B	0.42%
	PCOR	B	0.42%
	CSL	C	0.41%
	COOP	B	0.41%
	IOT	A	0.41%
	HRB	D	0.4%
	NTRA	B	0.4%
	LBRDA	C	0.4%
	GTLB	B	0.39%
	POWL	C	0.38%
	MEDP	D	0.38%
	WING	D	0.36%
	WFRD	D	0.35%
	CR	A	0.35%
	PIPR	B	0.34%
	CAVA	B	0.34%
	WK	B	0.34%
	HSII	B	0.31%
	WSO	A	0.31%
	ITT	A	0.31%
	FLEX	A	0.31%
	MAC	B	0.31%
	DDS	B	0.31%
	ALKS	B	0.3%
	SPXC	A	0.3%
	CORT	B	0.3%
	ANF	C	0.3%
	GGG	B	0.3%
	TTEK	F	0.29%
	STRL	B	0.29%
	PSTG	D	0.29%
	PRI	A	0.28%
	AGO	B	0.27%
	INTA	A	0.27%
	SN	D	0.27%
	FCNCA	A	0.27%
	SMAR	A	0.26%
	ESTC	C	0.26%
	SIG	B	0.26%
	OVV	B	0.25%
	MOD	A	0.25%
	HURN	B	0.25%
	TPX	B	0.24%
	CPRX	C	0.24%
	TREX	C	0.24%
	RMBS	C	0.24%
	SKT	B	0.24%
	HALO	F	0.24%
	EXEL	B	0.24%
	IMKTA	C	0.24%
	ENTG	D	0.23%
	LSCC	D	0.23%
	YOU	D	0.23%
	UFPI	B	0.23%
	BCC	B	0.22%
	SANM	B	0.22%
	GPI	A	0.22%
	APA	D	0.22%
	WS	B	0.22%
	COKE	C	0.22%
	AXSM	B	0.22%
	MATX	C	0.21%
	TOST	B	0.21%
	BLD	D	0.21%
	ETSY	D	0.2%
	RDDT	B	0.2%
	ELF	C	0.2%
	ATKR	C	0.2%
	DNLI	D	0.2%
	BBWI	D	0.2%
	TPG	A	0.2%
	LUMN	C	0.2%
	RNG	B	0.19%
	JOE	F	0.19%
	CROX	D	0.19%
	NAVI	C	0.19%
	GH	B	0.19%
	RRC	B	0.19%
	HLI	B	0.18%
	PRGS	A	0.18%
	KNSL	B	0.18%
	XRX	F	0.18%
	TDOC	C	0.18%
	VCYT	B	0.18%
	ESAB	B	0.18%
	HIW	D	0.18%
	OC	A	0.18%
	FROG	C	0.18%
	MMYT	B	0.17%
	ACLX	C	0.17%
	LNW	D	0.17%
	BRC	D	0.17%
	LNTH	D	0.17%
	PDM	D	0.17%
	PRG	C	0.17%
	RHI	B	0.17%
	EXTR	B	0.17%
	PRKS	C	0.17%
	JBSS	D	0.17%
	IVT	B	0.16%
	SRCE	B	0.16%
	BL	B	0.16%
	BMI	B	0.16%
	WTM	A	0.16%
	LRN	A	0.16%
	CVCO	A	0.16%
	TOL	B	0.16%
	AGNC	D	0.16%
	OMF	A	0.16%
	PGRE	F	0.16%
	KFRC	D	0.16%
	LBTYA	B	0.15%
	SBGI	B	0.15%
	ONON	A	0.15%
	XNCR	B	0.15%
	GES	F	0.15%
	ONTO	D	0.15%
	W	F	0.15%
	FTAI	B	0.15%
	SPB	C	0.15%
	ABG	B	0.15%
	CWEN	C	0.15%
	SKY	A	0.15%
	ESI	A	0.15%
	AMR	C	0.14%
	ATI	D	0.14%
	VSTO	A	0.14%
	IGT	F	0.14%
	BANF	B	0.14%
	MMSI	B	0.14%
	IONS	F	0.14%
	PI	D	0.14%
	ENSG	D	0.14%
	YEXT	A	0.14%
	PCTY	B	0.14%
	AY	B	0.14%
	SPT	C	0.14%
	SSD	D	0.14%
	TPH	D	0.14%
	VMEO	B	0.13%
	BPMC	C	0.13%
	IPAR	B	0.13%
	TNET	D	0.13%
	ACCO	C	0.13%
	BRZE	C	0.13%
	BWXT	B	0.13%
	GOLF	B	0.13%
	RYAN	B	0.13%
	KAI	A	0.13%
	BDN	C	0.13%
	QLYS	C	0.13%
	SFBS	B	0.13%
	NUVL	D	0.13%
	INSP	D	0.12%
	AROC	B	0.12%
	AWR	B	0.12%
	SAIA	B	0.12%
	GEO	B	0.12%
	BASE	C	0.12%
	SATS	D	0.12%
	ACLS	F	0.12%
	NYT	C	0.12%
	GFF	A	0.12%
	BKE	B	0.12%
	AIT	A	0.12%
	BSY	D	0.12%
	WAFD	B	0.12%
	WTS	B	0.12%
	NTCT	C	0.11%
	LAZ	B	0.11%
	SSTK	F	0.11%
	PTEN	C	0.11%
	OII	B	0.11%
	DFIN	D	0.11%
	LOVE	B	0.11%
	MFA	D	0.11%
	ACAD	D	0.11%
	HTH	B	0.11%
	CARG	C	0.11%
	SPSC	C	0.11%
	BAND	B	0.11%
	ODP	F	0.11%
	APOG	B	0.11%
	CXW	B	0.11%
	MCB	B	0.11%
	MDGL	B	0.11%
	BCRX	D	0.11%
	KW	B	0.1%
	MTRN	C	0.1%
	CHDN	B	0.1%
	HP	B	0.1%
	ACA	A	0.1%
	DNOW	B	0.1%
	BECN	B	0.1%
	EXPI	C	0.1%
	CRDO	B	0.1%
	VECO	F	0.1%
	CRC	B	0.1%
	HUN	F	0.1%
	ICFI	F	0.1%
	HOV	D	0.1%
	ALX	D	0.1%
	LYFT	C	0.1%
	CMPR	D	0.1%
	AGM	C	0.1%
	KLIC	B	0.1%
	INSM	C	0.1%
	WMS	D	0.1%
	VRNS	D	0.1%
	HIMS	B	0.1%
	WSC	D	0.09%
	PHIN	A	0.09%
	JACK	D	0.09%
	MRC	B	0.09%
	PCVX	D	0.09%
	HEES	B	0.09%
	ATEN	B	0.09%
	APG	B	0.09%
	PBH	A	0.09%
	HI	C	0.09%
	LGND	B	0.09%
	CAR	C	0.09%
	VERA	B	0.09%
	LZ	D	0.09%
	IDCC	A	0.09%
	PLNT	A	0.09%
	ALIT	C	0.09%
	TGNA	B	0.09%
	INVA	D	0.09%
	COUR	F	0.09%
	UPBD	B	0.09%
	DVAX	C	0.09%
	AMLX	C	0.09%
	WEX	D	0.09%
	CUBI	C	0.09%
	CRS	A	0.09%
	FIVN	C	0.08%
	TENB	C	0.08%
	LILA	D	0.08%
	VIR	D	0.08%
	RGEN	D	0.08%
	PEGA	A	0.08%
	CAL	D	0.08%
	ELAN	D	0.08%
	SCS	C	0.08%
	OSCR	D	0.08%
	FHB	A	0.08%
	PD	C	0.08%
	KN	B	0.08%
	GMS	B	0.08%
	WOR	F	0.08%
	CACC	D	0.08%
	DLX	B	0.08%
	VFC	C	0.08%
	BOX	B	0.08%
	NSSC	D	0.08%
	AGX	B	0.08%
	KSS	F	0.08%
	CARS	B	0.08%
	CSWI	A	0.08%
	CNMD	C	0.07%
	AFRM	B	0.07%
	UNIT	B	0.07%
	CLH	B	0.07%
	EQC	B	0.07%
	DH	D	0.07%
	HASI	D	0.07%
	AMRX	C	0.07%
	PEN	B	0.07%
	EYPT	F	0.07%
	WYNN	D	0.07%
	MATV	D	0.07%
	RIG	D	0.07%
	AMPH	D	0.07%
	LXP	D	0.07%
	AMPL	C	0.07%
	FLNC	C	0.07%
	WLY	B	0.07%
	NBR	C	0.07%
	EPAC	B	0.07%
	NTB	B	0.07%
	GKOS	B	0.07%
	DOMO	C	0.07%
	GCO	B	0.07%
	PLUS	F	0.07%
	SM	B	0.07%
	TXRH	C	0.07%
	SNEX	B	0.07%
	NARI	C	0.07%
	CEIX	A	0.07%
	WNC	C	0.07%
	AVXL	B	0.06%
	YELP	C	0.06%
	OXM	D	0.06%
	AVDX	B	0.06%
	GPMT	C	0.06%
	COTY	F	0.06%
	S	B	0.06%
	FN	D	0.06%
	TNC	D	0.06%
	NXT	C	0.06%
	ILPT	D	0.06%
	HWKN	B	0.06%
	AMCX	C	0.06%
	HCC	B	0.06%
	CNX	A	0.06%
	TRN	C	0.06%
	MCY	A	0.06%
	CTBI	B	0.06%
	MPW	F	0.06%
	ITCI	C	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%
	SOFI	A	0.06%
	RDN	C	0.06%
	WTTR	B	0.06%
	CASY	A	0.06%
	IRTC	D	0.06%
	ADEA	D	0.06%
	BCO	D	0.06%
	SFL	D	0.06%
	AIV	C	0.06%
	ADMA	B	0.06%
	APPF	B	0.06%
	AZEK	A	0.06%
	OTTR	C	0.06%
	HE	C	0.06%
	UVV	B	0.06%
	MED	F	0.06%
	FOLD	F	0.05%
	AVAV	D	0.05%
	ITGR	B	0.05%
	ACI	C	0.05%
	CVBF	A	0.05%
	SONO	C	0.05%
	PZZA	D	0.05%
	ITRI	B	0.05%
	LBTYK	A	0.05%
	TILE	B	0.05%
	BEAM	D	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	F	0.05%
	KOS	F	0.05%
	TARS	B	0.05%
	SMTC	B	0.05%
	ZIP	F	0.05%
	VNT	B	0.05%
	THR	B	0.05%
	APLS	D	0.05%
	ASAN	C	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%
	FCN	D	0.04%
	HPP	F	0.04%
	MDU	D	0.04%
	DAWN	F	0.04%
	CORZ	A	0.04%
	PFSI	D	0.04%
	KREF	D	0.04%
	OUT	A	0.04%
	DIN	C	0.04%
	LPG	F	0.04%
	FLYW	C	0.04%
	AGS	A	0.04%
	IDT	B	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%
	RVMD	C	0.04%
	KLG	C	0.04%
	CELH	F	0.04%
	AGYS	A	0.04%
	ARRY	C	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%
	IBP	D	0.04%
	NHI	D	0.04%
	ACHC	F	0.04%
	HSTM	B	0.04%
	BCPC	B	0.04%
	TDS	B	0.04%
	IOSP	B	0.04%
	RCUS	F	0.04%
	JANX	C	0.03%
	SWIM	C	0.03%
	AXTA	A	0.03%
	ALHC	C	0.03%
	VIAV	B	0.03%
	ALRM	C	0.03%
	RDFN	D	0.03%
	ADT	C	0.03%
	MOG.A	B	0.03%
	LTH	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%
	TGTX	B	0.03%
	BBIO	F	0.03%
	QXO	D	0.03%
	OFIX	B	0.03%
	XHR	B	0.03%
	VIRT	B	0.03%
	QDEL	F	0.03%
	REVG	B	0.03%
	SNBR	F	0.03%
	RYI	C	0.03%
	IESC	B	0.03%
	UDMY	F	0.03%
	ARCH	B	0.03%
	SLAB	D	0.03%
	BRSP	B	0.03%
	MGNI	A	0.03%
	HNI	B	0.03%
	AMN	F	0.03%
	ACCD	D	0.03%
	VITL	D	0.03%
	CGEM	F	0.03%
	IVR	F	0.03%
	RPD	C	0.03%
	SPRY	D	0.03%
	ATRC	C	0.03%
	CNS	B	0.03%
	RKT	F	0.03%
	UVE	B	0.03%
	NRC	F	0.03%
	OI	C	0.03%
	OLED	D	0.03%
	BKD	D	0.03%
	CVI	F	0.03%
	RXT	C	0.02%
	ERAS	C	0.02%
	WOOF	D	0.02%
	SLVM	B	0.02%
	OSIS	B	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%
	EVH	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%
	DOCN	D	0.02%
	ALAB	B	0.02%
	EVRI	A	0.02%
	NWL	B	0.02%
	NUS	D	0.02%
	BMBL	C	0.02%
	OPI	F	0.02%
	IRWD	F	0.02%
	FSS	B	0.02%
	MTW	C	0.02%
	DY	D	0.02%
	DBI	F	0.02%
	LMAT	A	0.02%
	CLVT	F	0.02%
	PR	B	0.02%
	RLJ	C	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%
	PTCT	B	0.02%
	GIII	D	0.02%
	USNA	C	0.02%
	ARCB	C	0.02%
	PDCO	D	0.02%
	CALX	D	0.02%
	CWK	B	0.01%
	VAL	D	0.01%
	PGEN	F	0.01%
	AIN	C	0.01%
	ARR	D	0.01%
	PEB	D	0.01%
	JAMF	F	0.01%
	EPC	D	0.01%
	SFIX	B	0.01%
	FLWS	F	0.01%
	TDC	D	0.01%
	XPRO	F	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%
	CRAI	B	0.01%
	SWI	B	0.01%
	MITK	C	0.01%
	NTLA	F	0.01%
	VRE	B	0.01%
	TR	B	0.01%
	TTGT	C	0.01%
	HCAT	D	0.01%
	OIS	C	0.01%
	RBRK	A	0.01%
	NGVT	B	0.01%
	ENVA	B	0.01%
	HMST	D	0.01%
	AXS	A	0.01%
	CAKE	C	0.01%
	STGW	B	0.01%
	OLPX	D	0.01%
	ENR	B	0.01%
	BSIG	A	0.01%
	GWRE	A	0.01%
	RHP	B	0.01%
	PYCR	C	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%
	NEXA	C	0.01%
	BYD	C	0.01%
	UPWK	B	0.01%
	NFBK	B	0.01%
	SHO	C	0.01%
	AEIS	B	0.01%
	BFH	B	0.0%
	MC	C	0.0%
	SEE	C	0.0%
	CHCO	B	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%
	TBBK	B	0.0%
	FBP	B	0.0%
	PRDO	B	0.0%
	BKU	A	0.0%
	CMA	A	0.0%
	AX	A	0.0%
	OFG	B	0.0%

SMLF Underweight 526 Positions Relative to IUSV

	Symbol	Grade	Weight
	BRK.A	B	-3.74%
	JPM	A	-3.01%
	XOM	B	-2.34%
	WMT	A	-1.66%
	JNJ	D	-1.62%
	UNH	C	-1.48%
	BAC	A	-1.36%
	CVX	A	-1.19%
	HD	A	-1.11%
	WFC	A	-1.1%
	PG	A	-1.07%
	COST	B	-1.06%
	CSCO	B	-1.0%
	DIS	B	-0.9%
	IBM	C	-0.89%
	ABT	B	-0.88%
	ABBV	D	-0.83%
	GS	A	-0.81%
	VZ	C	-0.77%
	V	A	-0.76%
	CMCSA	B	-0.73%
	MS	A	-0.73%
	T	A	-0.71%
	NEE	D	-0.69%
	RTX	C	-0.69%
	AMGN	D	-0.67%
	MRK	F	-0.66%
	KO	D	-0.65%
	DHR	F	-0.65%
	LOW	D	-0.65%
	HON	B	-0.64%
	PFE	D	-0.62%
	BLK	C	-0.62%
	PEP	F	-0.61%
	C	A	-0.57%
	PM	B	-0.56%
	TMO	F	-0.53%
	SCHW	B	-0.52%
	BMY	B	-0.51%
	MA	C	-0.51%
	LMT	D	-0.5%
	MCD	D	-0.5%
	TMUS	B	-0.5%
	MU	D	-0.49%
	TXN	C	-0.49%
	GE	D	-0.48%
	GILD	C	-0.48%
	MDT	D	-0.47%
	PLD	D	-0.46%
	CB	C	-0.46%
	ACN	C	-0.45%
	INTC	D	-0.45%
	LIN	D	-0.45%
	UPS	C	-0.42%
	SO	D	-0.42%
	MO	A	-0.41%
	SPGI	C	-0.4%
	CI	F	-0.4%
	ELV	F	-0.4%
	ICE	C	-0.39%
	PYPL	B	-0.38%
	DUK	C	-0.38%
	QCOM	F	-0.36%
	WELL	A	-0.35%
	UNP	C	-0.35%
	USB	A	-0.35%
	MCK	B	-0.35%
	PNC	B	-0.35%
	CAT	B	-0.34%
	ADP	B	-0.33%
	PGR	A	-0.33%
	APD	A	-0.32%
	EMR	A	-0.32%
	CVS	D	-0.31%
	GD	F	-0.31%
	NOC	D	-0.3%
	COF	B	-0.3%
	MMM	D	-0.3%
	ISRG	A	-0.29%
	FDX	B	-0.29%
	BDX	F	-0.28%
	SLB	C	-0.27%
	GM	B	-0.27%
	TFC	A	-0.27%
	TRV	B	-0.26%
	NSC	B	-0.26%
	SRE	A	-0.26%
	FI	A	-0.26%
	BSX	B	-0.26%
	BK	A	-0.25%
	BA	F	-0.25%
	PSX	C	-0.24%
	KMI	A	-0.24%
	AMT	D	-0.24%
	JCI	C	-0.24%
	TGT	F	-0.24%
	ETN	A	-0.24%
	AFL	B	-0.24%
	AEP	D	-0.23%
	CME	A	-0.23%
	MMC	B	-0.23%
	GEV	B	-0.23%
	ALL	A	-0.23%
	O	D	-0.22%
	MDLZ	F	-0.22%
	MET	A	-0.22%
	CMI	A	-0.22%
	NKE	D	-0.22%
	SYK	C	-0.21%
	DE	A	-0.21%
	D	C	-0.21%
	AIG	B	-0.21%
	AXP	A	-0.21%
	NEM	D	-0.21%
	VLO	C	-0.2%
	PCG	A	-0.2%
	CCI	D	-0.2%
	PEG	A	-0.2%
	KVUE	A	-0.2%
	KMB	D	-0.2%
	EQIX	A	-0.2%
	SBUX	A	-0.2%
	LHX	C	-0.2%
	FIS	C	-0.2%
	CL	D	-0.2%
	TJX	A	-0.2%
	COR	B	-0.19%
	WM	A	-0.19%
	CEG	D	-0.19%
	ADI	D	-0.19%
	SHW	A	-0.19%
	WMB	A	-0.19%
	BKR	B	-0.19%
	PRU	A	-0.19%
	AON	A	-0.18%
	VRTX	F	-0.18%
	CTVA	C	-0.18%
	F	C	-0.18%
	A	D	-0.17%
	APH	A	-0.17%
	KR	B	-0.17%
	CTSH	B	-0.17%
	BX	A	-0.17%
	EXC	C	-0.17%
	ITW	B	-0.17%
	CBRE	B	-0.17%
	MCO	B	-0.17%
	XEL	A	-0.17%
	COP	C	-0.17%
	RMD	C	-0.16%
	ZTS	D	-0.16%
	KDP	D	-0.16%
	MTB	A	-0.16%
	SYY	B	-0.16%
	GLW	B	-0.16%
	HPQ	B	-0.16%
	GEHC	F	-0.16%
	STZ	D	-0.16%
	EIX	B	-0.15%
	ROP	B	-0.15%
	VICI	C	-0.15%
	CTAS	B	-0.15%
	DLR	B	-0.15%
	CSX	B	-0.15%
	ED	D	-0.15%
	DD	D	-0.15%
	MSI	B	-0.15%
	WAB	B	-0.15%
	OXY	D	-0.15%
	HIG	B	-0.15%
	SPG	B	-0.15%
	EXR	D	-0.15%
	HUM	C	-0.15%
	GIS	D	-0.15%
	DOW	F	-0.14%
	FCX	D	-0.14%
	REGN	F	-0.14%
	CNC	D	-0.14%
	WTW	B	-0.14%
	WEC	A	-0.14%
	FITB	A	-0.14%
	HCA	F	-0.14%
	ETR	B	-0.14%
	AJG	B	-0.14%
	ADSK	A	-0.14%
	AVB	B	-0.14%
	CARR	D	-0.14%
	NDAQ	A	-0.14%
	TT	A	-0.13%
	ABNB	C	-0.13%
	KEYS	A	-0.13%
	GPN	B	-0.13%
	EBAY	D	-0.13%
	CAH	B	-0.13%
	ECL	D	-0.13%
	XYL	D	-0.13%
	RJF	A	-0.13%
	PSA	D	-0.13%
	UAL	A	-0.13%
	VTR	C	-0.12%
	EW	C	-0.12%
	AWK	D	-0.12%
	KHC	F	-0.12%
	PAYX	C	-0.12%
	TEL	B	-0.12%
	DOV	A	-0.12%
	EQT	B	-0.12%
	SW	A	-0.12%
	HAL	C	-0.12%
	HPE	B	-0.12%
	STT	A	-0.12%
	PPG	F	-0.12%
	CINF	A	-0.11%
	OTIS	C	-0.11%
	RF	A	-0.11%
	AEE	A	-0.11%
	ADM	D	-0.11%
	DTE	C	-0.11%
	EQR	B	-0.11%
	HBAN	A	-0.11%
	PPL	B	-0.11%
	SYF	B	-0.11%
	OKE	A	-0.11%
	TROW	B	-0.11%
	AMP	A	-0.11%
	EOG	A	-0.11%
	VLTO	D	-0.11%
	NTRS	A	-0.1%
	WY	D	-0.1%
	ZBH	C	-0.1%
	LDOS	C	-0.1%
	ES	D	-0.1%
	TDY	B	-0.1%
	EA	A	-0.1%
	WBD	C	-0.1%
	IFF	D	-0.1%
	BIIB	F	-0.1%
	ATO	A	-0.1%
	AME	A	-0.1%
	FAST	B	-0.1%
	MPC	D	-0.1%
	DVN	F	-0.1%
	MKC	D	-0.09%
	MSCI	C	-0.09%
	PH	A	-0.09%
	OMC	C	-0.09%
	NRG	B	-0.09%
	CHTR	C	-0.09%
	HWM	A	-0.09%
	LH	C	-0.09%
	ZBRA	B	-0.09%
	DFS	B	-0.09%
	YUM	B	-0.09%
	IP	B	-0.09%
	CNP	B	-0.09%
	CMS	C	-0.09%
	CLX	B	-0.09%
	CFG	B	-0.09%
	IQV	D	-0.09%
	LYB	F	-0.09%
	WDC	D	-0.09%
	FE	C	-0.09%
	K	A	-0.09%
	ILMN	D	-0.09%
	PKG	A	-0.09%
	TRMB	B	-0.08%
	KEY	B	-0.08%
	LEN	D	-0.08%
	CSGP	D	-0.08%
	DAL	C	-0.08%
	PFG	D	-0.08%
	HOLX	D	-0.08%
	DGX	A	-0.08%
	TSN	B	-0.08%
	VRSK	A	-0.08%
	BALL	D	-0.08%
	MAA	B	-0.08%
	RSG	A	-0.08%
	WRB	A	-0.08%
	ORLY	B	-0.08%
	DELL	C	-0.08%
	LUV	C	-0.08%
	EFX	F	-0.08%
	INVH	D	-0.08%
	ESS	B	-0.08%
	FSLR	F	-0.08%
	AMCR	D	-0.07%
	RGA	A	-0.07%
	FNF	B	-0.07%
	IDXX	F	-0.07%
	DOC	D	-0.07%
	TTWO	A	-0.07%
	MNST	C	-0.07%
	L	A	-0.07%
	EL	F	-0.07%
	PWR	A	-0.07%
	MTD	D	-0.07%
	VTRS	A	-0.07%
	TXT	D	-0.07%
	HSY	F	-0.07%
	AVY	D	-0.07%
	PCAR	B	-0.07%
	GEN	B	-0.07%
	AZO	C	-0.07%
	DG	F	-0.07%
	LNT	A	-0.07%
	COHR	B	-0.07%
	NTAP	C	-0.07%
	DOCU	A	-0.07%
	ARE	D	-0.07%
	ON	D	-0.07%
	ROK	B	-0.07%
	EG	C	-0.07%
	BAX	D	-0.07%
	J	F	-0.07%
	TSCO	D	-0.07%
	NI	A	-0.07%
	BBY	D	-0.07%
	TER	D	-0.07%
	GPC	D	-0.07%
	IRM	D	-0.07%
	IEX	B	-0.07%
	CHRW	C	-0.06%
	ALB	C	-0.06%
	CPT	B	-0.06%
	MRNA	F	-0.06%
	CAG	D	-0.06%
	NUE	C	-0.06%
	ANSS	B	-0.06%
	HUBB	B	-0.06%
	VMC	B	-0.06%
	DLTR	F	-0.06%
	GWW	B	-0.06%
	UDR	B	-0.06%
	SWK	D	-0.06%
	PFGC	B	-0.06%
	RVTY	F	-0.06%
	SWKS	F	-0.06%
	WAT	B	-0.06%
	CDW	F	-0.06%
	SBAC	D	-0.06%
	NXPI	D	-0.06%
	APTV	D	-0.06%
	FFIV	B	-0.06%
	JBHT	C	-0.06%
	MCHP	D	-0.06%
	EVRG	A	-0.06%
	CHD	B	-0.06%
	GRMN	B	-0.06%
	AFG	A	-0.05%
	CNH	C	-0.05%
	FOXA	B	-0.05%
	SNA	A	-0.05%
	PNW	B	-0.05%
	TAP	C	-0.05%
	EXPD	D	-0.05%
	ARMK	B	-0.05%
	IPG	D	-0.05%
	CTLT	B	-0.05%
	TECH	D	-0.05%
	NWSA	B	-0.05%
	INCY	C	-0.05%
	BR	A	-0.05%
	PODD	C	-0.05%
	JNPR	F	-0.05%
	COO	D	-0.05%
	UHS	D	-0.05%
	DXCM	D	-0.05%
	BXP	D	-0.05%
	REG	B	-0.05%
	EMN	D	-0.05%
	SJM	D	-0.05%
	MLM	B	-0.05%
	JLL	D	-0.05%
	STX	D	-0.05%
	WPC	D	-0.05%
	BG	F	-0.05%
	JKHY	D	-0.05%
	KMX	B	-0.05%
	MTCH	D	-0.04%
	EPAM	C	-0.04%
	MOS	F	-0.04%
	FRT	B	-0.04%
	MTZ	B	-0.04%
	CPB	D	-0.04%
	SNX	C	-0.04%
	HRL	D	-0.04%
	TFX	F	-0.04%
	KNX	B	-0.04%
	STE	F	-0.04%
	HSIC	B	-0.04%
	DRI	B	-0.04%
	DPZ	C	-0.04%
	PTC	A	-0.04%
	AES	F	-0.04%
	AAL	B	-0.04%
	TPL	A	-0.04%
	IR	B	-0.04%
	GL	B	-0.04%
	FDS	B	-0.04%
	NLY	C	-0.04%
	MKTX	D	-0.04%
	LKQ	D	-0.04%
	CRL	C	-0.04%
	ALLY	C	-0.04%
	LAD	A	-0.04%
	BRO	B	-0.03%
	FOX	A	-0.03%
	CG	A	-0.03%
	HOMB	A	-0.03%
	THG	A	-0.03%
	LITE	B	-0.03%
	INGR	B	-0.03%
	POOL	C	-0.03%
	WHR	B	-0.03%
	ESNT	D	-0.03%
	FNB	A	-0.03%
	BIO	D	-0.03%
	PAYC	B	-0.03%
	QRVO	F	-0.03%
	HR	C	-0.03%
	DAR	C	-0.03%
	GBCI	B	-0.03%
	COLB	A	-0.03%
	BEN	C	-0.03%
	LVS	C	-0.03%
	ONB	B	-0.03%
	BURL	A	-0.03%
	CTRA	B	-0.03%
	OSK	B	-0.03%
	MHK	D	-0.03%
	FMC	D	-0.03%
	MOH	F	-0.03%
	ALGN	D	-0.03%
	CCL	B	-0.03%
	AKAM	D	-0.03%
	MRO	B	-0.03%
	G	B	-0.03%
	STLD	B	-0.03%
	BWA	D	-0.03%
	CF	B	-0.03%
	HII	D	-0.03%
	ADC	B	-0.03%
	MAS	D	-0.03%
	ROL	B	-0.03%
	PB	A	-0.03%
	AVTR	F	-0.03%
	CBOE	B	-0.03%
	VRSN	F	-0.03%
	NWS	B	-0.02%
	ALE	A	-0.02%
	LW	C	-0.02%
	CGNX	C	-0.02%
	SEIC	B	-0.02%
	SAIC	F	-0.02%
	ORA	B	-0.02%
	FLS	B	-0.02%
	KEX	C	-0.02%
	SBRA	C	-0.02%
	ERIE	D	-0.02%
	KMPR	B	-0.02%
	SLGN	A	-0.02%
	JAZZ	B	-0.02%
	ATR	B	-0.02%
	ST	F	-0.02%
	ELS	C	-0.02%
	AVT	C	-0.02%
	IRT	A	-0.02%
	VLY	B	-0.02%
	HST	C	-0.02%
	WTRG	B	-0.02%
	TKO	B	-0.02%
	BMRN	D	-0.02%
	POST	C	-0.02%
	UBSI	B	-0.02%
	ENPH	F	-0.02%
	ULTA	F	-0.02%
	PNR	A	-0.02%
	LEA	D	-0.02%
	REXR	F	-0.02%
	FBIN	D	-0.02%
	CLF	F	-0.02%
	DAY	B	-0.02%
	CCK	C	-0.02%
	CPRI	F	-0.01%
	IPGP	D	-0.01%
	PSN	D	-0.01%
	COLM	B	-0.01%
	SAM	C	-0.01%
	AMED	F	-0.01%
	UAA	C	-0.01%
	NSA	D	-0.01%
	IRDM	D	-0.01%
	CHH	A	-0.01%
	CNXC	F	-0.01%
	CADE	B	-0.01%
	CRI	D	-0.01%
	VNOM	A	-0.01%
	DLB	B	-0.01%
	EQH	B	-0.01%
	PPC	C	-0.01%
	ZI	D	-0.01%
	JWN	C	-0.01%
	ALTM	C	-0.01%
	GNTX	C	-0.01%
	ENOV	C	-0.01%
	GXO	B	-0.01%
	GT	C	-0.01%
	SIGI	C	-0.01%
	WU	D	-0.01%
	KBH	D	-0.01%
	MGM	D	-0.01%
	NEOG	F	-0.01%
	RH	B	-0.01%
	AMKR	D	-0.01%
	AMTM	D	-0.01%
	PAG	B	-0.01%
	GHC	C	-0.01%
	BHF	B	-0.01%
	AOS	F	-0.01%
	CZR	F	-0.01%
	DVA	B	-0.01%
	NWE	B	-0.01%
	AZTA	D	-0.0%
	WMG	C	-0.0%
	HGV	B	-0.0%

SMLF: Top Represented Industries & Keywords

Industries: Biotechnology Software - Application Banks - Regional - US Software - Infrastructure Diversified Industrials Specialty Retail Oil & Gas E&P REIT - Office Building Materials Asset Management Business Services REIT - Diversified Engineering & Construction REIT - Retail Specialty Chemicals Leisure Medical Instruments & Supplies Rental & Leasing Services Credit Services Drug Manufacturers - Specialty & Generic

Keywords: Banking Bank Real Estate Investment Trust Medicine Computing Chemical Biopharmaceutical Mining Natural Gas Telecommunications Biotechnology Deposit Products Construction Electronics Aerospace IBD 50 Insurance Semiconductor Cancer Commercial Banking

IUSV: Top Represented Industries & Keywords

Industries: Banks - Regional - US Diversified Industrials Utilities - Regulated Electric Business Services Asset Management Diagnostics & Research Packaged Foods Semiconductors Packaging & Containers Software - Application Specialty Chemicals Capital Markets Medical Instruments & Supplies Specialty Retail Biotechnology Insurance - Property & Casualty Oil & Gas E&P Information Technology Services Medical Devices REIT - Diversified

Keywords: S&P 500 Nasdaq 100 Natural Gas Bank Insurance Real Estate Investment Trust Banking Electricity Chemical Electronics Aerospace Mining Medicine Computing Telecommunications Dow Jones Component Insurance Products Semiconductor Beverage Plastic