SMLF vs. JPSE ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE)

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

$71.68

Average Daily Volume

70,611

Number of Holdings ^*

810

* may have additional holdings in another (foreign) market

JPSE

JPMorgan Diversified Return U.S. Small Cap Equity ETF

JPSE Description

The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the Russell 2000 Diversified Factor Index.

Grade (RS Rating)

Last Trade

$50.39

Average Daily Volume

33,513

Number of Holdings ^*

529

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	JPSE
30 Days	7.55%	5.92%
60 Days	8.72%	5.89%
90 Days	9.84%	6.96%
12 Months	38.08%	28.45%

249 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in JPSE	Overlap
ABG	C	0.15%	0.13%	0.13%
ACA	A	0.1%	0.35%	0.1%
ACCO	C	0.13%	0.12%	0.12%
ACLS	F	0.12%	0.09%	0.09%
ACLX	C	0.17%	0.32%	0.17%
AEIS	C	0.01%	0.28%	0.01%
AEO	F	0.05%	0.17%	0.05%
AGM	B	0.1%	0.09%	0.09%
AGYS	A	0.04%	0.33%	0.04%
AIN	C	0.01%	0.12%	0.01%
AIT	B	0.12%	0.39%	0.12%
AIV	C	0.06%	0.03%	0.03%
ALKS	C	0.3%	0.17%	0.17%
ALRM	C	0.03%	0.13%	0.03%
AMPH	F	0.07%	0.21%	0.07%
AMR	C	0.14%	0.23%	0.14%
ANF	F	0.3%	0.05%	0.05%
APOG	C	0.11%	0.24%	0.11%
ARCB	C	0.02%	0.21%	0.02%
ARCH	B	0.03%	0.26%	0.03%
ARCT	F	0.02%	0.07%	0.02%
AROC	A	0.12%	0.35%	0.12%
ASGN	F	0.01%	0.15%	0.01%
ASO	F	0.06%	0.18%	0.06%
ATEN	A	0.09%	0.18%	0.09%
ATKR	D	0.2%	0.17%	0.17%
AVNT	B	0.18%	0.31%	0.18%
AWR	B	0.12%	0.2%	0.12%
AX	B	0.0%	0.27%	0.0%
BANF	B	0.14%	0.04%	0.04%
BCC	B	0.22%	0.32%	0.22%
BCPC	B	0.04%	0.3%	0.04%
BDC	C	0.08%	0.23%	0.08%
BDN	C	0.13%	0.21%	0.13%
BKE	B	0.12%	0.32%	0.12%
BKH	A	0.01%	0.3%	0.01%
BLKB	B	0.13%	0.1%	0.1%
BLMN	F	0.05%	0.1%	0.05%
BMI	B	0.16%	0.31%	0.16%
BRY	F	0.02%	0.06%	0.02%
BSIG	A	0.01%	0.07%	0.01%
CAL	F	0.08%	0.03%	0.03%
CALX	D	0.02%	0.13%	0.02%
CARG	B	0.11%	0.26%	0.11%
CARS	C	0.08%	0.06%	0.06%
CASH	B	0.0%	0.09%	0.0%
CBT	D	0.12%	0.31%	0.12%
CDP	C	0.03%	0.29%	0.03%
CEIX	A	0.07%	0.32%	0.07%
CENTA	C	0.05%	0.15%	0.05%
CHCO	B	0.0%	0.07%	0.0%
CHX	C	0.11%	0.23%	0.11%
CMC	B	0.14%	0.34%	0.14%
CNMD	C	0.07%	0.15%	0.07%
CNO	B	0.16%	0.33%	0.16%
CNS	B	0.03%	0.08%	0.03%
CNX	A	0.06%	0.4%	0.06%
COOP	B	0.41%	0.31%	0.31%
CORT	B	0.3%	0.43%	0.3%
CPRX	C	0.24%	0.3%	0.24%
CRAI	C	0.01%	0.24%	0.01%
CRC	A	0.1%	0.2%	0.1%
CRS	B	0.09%	0.38%	0.09%
CSWI	B	0.08%	0.32%	0.08%
CTBI	B	0.06%	0.06%	0.06%
CVI	F	0.03%	0.11%	0.03%
CVLT	B	0.08%	0.29%	0.08%
CWK	C	0.01%	0.07%	0.01%
CXW	C	0.11%	0.39%	0.11%
DEI	B	0.0%	0.25%	0.0%
DFIN	D	0.11%	0.07%	0.07%
DNOW	B	0.1%	0.17%	0.1%
DVAX	C	0.09%	0.18%	0.09%
EIG	B	0.0%	0.17%	0.0%
ENR	B	0.01%	0.28%	0.01%
ENS	F	0.04%	0.12%	0.04%
ENSG	C	0.14%	0.28%	0.14%
ENVA	B	0.01%	0.36%	0.01%
EPC	F	0.01%	0.24%	0.01%
EQC	B	0.07%	0.19%	0.07%
EVTC	B	0.03%	0.12%	0.03%
EXPI	D	0.1%	0.11%	0.1%
EXPO	D	0.09%	0.11%	0.09%
EXTR	C	0.17%	0.25%	0.17%
FBP	C	0.0%	0.16%	0.0%
FN	C	0.06%	0.31%	0.06%
FSS	B	0.02%	0.27%	0.02%
FULT	A	0.0%	0.17%	0.0%
GATX	A	0.15%	0.26%	0.15%
GEF	A	0.01%	0.18%	0.01%
GEO	B	0.12%	0.55%	0.12%
GFF	A	0.12%	0.19%	0.12%
GIII	D	0.02%	0.07%	0.02%
GMS	B	0.08%	0.27%	0.08%
GNW	A	0.0%	0.2%	0.0%
GPI	B	0.22%	0.31%	0.22%
HAE	C	0.2%	0.21%	0.2%
HAIN	D	0.01%	0.1%	0.01%
HASI	D	0.07%	0.19%	0.07%
HCC	B	0.06%	0.32%	0.06%
HE	C	0.06%	0.18%	0.06%
HI	C	0.09%	0.06%	0.06%
HLF	C	0.04%	0.19%	0.04%
HNI	B	0.03%	0.26%	0.03%
HOV	D	0.1%	0.1%	0.1%
HPP	F	0.04%	0.01%	0.01%
HQY	A	0.01%	0.29%	0.01%
HSII	B	0.31%	0.08%	0.08%
HTH	C	0.11%	0.13%	0.11%
HWC	B	0.08%	0.17%	0.08%
HWKN	B	0.06%	0.2%	0.06%
IBOC	B	0.11%	0.2%	0.11%
IBP	D	0.04%	0.24%	0.04%
IDCC	B	0.09%	0.39%	0.09%
IDT	B	0.04%	0.39%	0.04%
IGT	F	0.14%	0.11%	0.11%
IMKTA	C	0.24%	0.19%	0.19%
INVA	D	0.09%	0.27%	0.09%
IOSP	C	0.04%	0.27%	0.04%
IPAR	B	0.13%	0.12%	0.12%
IRWD	F	0.02%	0.03%	0.02%
ITGR	B	0.05%	0.29%	0.05%
IVT	A	0.16%	0.12%	0.12%
JBSS	F	0.17%	0.17%	0.17%
JOE	F	0.19%	0.24%	0.19%
JXN	C	0.0%	0.35%	0.0%
KALU	C	0.01%	0.22%	0.01%
KFY	B	0.02%	0.16%	0.02%
KLG	B	0.04%	0.18%	0.04%
KLIC	B	0.1%	0.24%	0.1%
KRG	B	0.17%	0.3%	0.17%
LADR	B	0.06%	0.17%	0.06%
LANC	C	0.02%	0.22%	0.02%
LGND	C	0.09%	0.3%	0.09%
LNTH	D	0.17%	0.21%	0.17%
LPG	F	0.04%	0.17%	0.04%
LUMN	C	0.2%	0.39%	0.2%
LXP	D	0.07%	0.18%	0.07%
MAC	B	0.31%	0.33%	0.31%
MATV	D	0.07%	0.15%	0.07%
MATX	C	0.21%	0.34%	0.21%
MC	C	0.0%	0.31%	0.0%
MED	D	0.06%	0.16%	0.06%
MITK	C	0.01%	0.05%	0.01%
MLI	B	0.49%	0.39%	0.39%
MMS	F	0.04%	0.25%	0.04%
MMSI	A	0.14%	0.3%	0.14%
MOG.A	B	0.03%	0.14%	0.03%
MRC	B	0.09%	0.1%	0.09%
MTRN	C	0.1%	0.26%	0.1%
MUR	D	0.19%	0.18%	0.18%
NAVI	F	0.19%	0.16%	0.16%
NBTB	B	0.0%	0.17%	0.0%
NGVT	B	0.01%	0.24%	0.01%
NHI	D	0.04%	0.26%	0.04%
NJR	A	0.14%	0.29%	0.14%
NOVT	D	0.14%	0.28%	0.14%
NSIT	F	0.06%	0.21%	0.06%
NSP	F	0.11%	0.1%	0.1%
NTB	B	0.07%	0.22%	0.07%
NTCT	C	0.11%	0.16%	0.11%
NUS	D	0.02%	0.09%	0.02%
NWN	A	0.01%	0.25%	0.01%
NX	C	0.03%	0.05%	0.03%
ODP	F	0.11%	0.0%	0.0%
OFG	B	0.0%	0.23%	0.0%
OGS	A	0.13%	0.31%	0.13%
OMI	F	0.04%	0.1%	0.04%
OPCH	D	0.08%	0.18%	0.08%
OSUR	F	0.01%	0.08%	0.01%
OTTR	C	0.06%	0.27%	0.06%
OUT	A	0.04%	0.17%	0.04%
OXM	F	0.06%	0.1%	0.06%
PBF	D	0.02%	0.17%	0.02%
PBH	A	0.09%	0.31%	0.09%
PCH	F	0.01%	0.24%	0.01%
PDCO	F	0.02%	0.04%	0.02%
PDM	D	0.17%	0.25%	0.17%
PEB	D	0.01%	0.15%	0.01%
PFSI	C	0.04%	0.27%	0.04%
PGRE	F	0.16%	0.09%	0.09%
PHIN	A	0.09%	0.09%	0.09%
PI	D	0.14%	0.21%	0.14%
PLUS	F	0.07%	0.21%	0.07%
POR	C	0.07%	0.27%	0.07%
POWI	F	0.01%	0.2%	0.01%
PRDO	B	0.0%	0.35%	0.0%
PRG	C	0.17%	0.12%	0.12%
PRGS	A	0.18%	0.29%	0.18%
PTEN	C	0.11%	0.13%	0.11%
QLYS	B	0.13%	0.21%	0.13%
RDFN	D	0.03%	0.14%	0.03%
RDN	D	0.06%	0.27%	0.06%
RHP	B	0.01%	0.28%	0.01%
RLJ	C	0.02%	0.22%	0.02%
RMBS	B	0.24%	0.21%	0.21%
RYI	C	0.03%	0.25%	0.03%
SANM	B	0.22%	0.24%	0.22%
SATS	D	0.12%	0.29%	0.12%
SCS	C	0.08%	0.2%	0.08%
SFM	A	0.6%	0.41%	0.41%
SHO	D	0.01%	0.25%	0.01%
SIG	B	0.26%	0.31%	0.26%
SKT	A	0.24%	0.32%	0.24%
SLG	B	0.49%	0.31%	0.31%
SLVM	B	0.02%	0.32%	0.02%
SM	B	0.07%	0.28%	0.07%
SNEX	B	0.07%	0.11%	0.07%
SPSC	D	0.11%	0.27%	0.11%
SR	A	0.12%	0.29%	0.12%
SRCE	B	0.16%	0.07%	0.07%
SSTK	F	0.11%	0.1%	0.1%
STRL	A	0.29%	0.46%	0.29%
SUPN	C	0.03%	0.22%	0.03%
SVC	F	0.02%	0.05%	0.02%
SWI	C	0.01%	0.06%	0.01%
SWX	B	0.01%	0.26%	0.01%
SYNA	C	0.1%	0.05%	0.05%
TDS	B	0.04%	0.38%	0.04%
TGNA	B	0.09%	0.32%	0.09%
TILE	B	0.05%	0.31%	0.05%
TMHC	C	0.09%	0.31%	0.09%
TNC	D	0.06%	0.01%	0.01%
TNET	F	0.13%	0.18%	0.13%
TPB	B	0.04%	0.38%	0.04%
TPH	D	0.14%	0.24%	0.14%
TRMK	C	0.0%	0.09%	0.0%
UFPI	C	0.23%	0.32%	0.23%
UMBF	B	0.14%	0.12%	0.12%
UNFI	A	0.02%	0.19%	0.02%
UNIT	B	0.07%	0.07%	0.07%
UPBD	B	0.09%	0.18%	0.09%
USNA	C	0.02%	0.1%	0.02%
UVV	B	0.06%	0.22%	0.06%
VIAV	C	0.03%	0.25%	0.03%
VITL	D	0.03%	0.18%	0.03%
VNDA	C	0.03%	0.03%	0.03%
VSH	F	0.09%	0.16%	0.09%
WAFD	B	0.12%	0.21%	0.12%
WGO	C	0.05%	0.17%	0.05%
WK	B	0.34%	0.24%	0.24%
WNC	C	0.07%	0.09%	0.07%
WOR	F	0.08%	0.19%	0.08%
WTS	B	0.12%	0.3%	0.12%
WTTR	A	0.06%	0.24%	0.06%
XHR	B	0.03%	0.19%	0.03%
XRX	F	0.18%	0.09%	0.09%
YELP	C	0.06%	0.25%	0.06%
YOU	D	0.23%	0.14%	0.14%

SMLF Overweight 561 Positions Relative to JPSE

Symbol	Grade	Weight
APP	B	1.49%
EME	A	0.94%
EVR	B	0.81%
MSTR	B	0.73%
DECK	A	0.72%
AXON	A	0.66%
ALSN	B	0.56%
NTNX	B	0.56%
JBL	C	0.55%
BPOP	C	0.53%
MANH	D	0.5%
RS	B	0.49%
NVT	B	0.49%
CVNA	B	0.46%
IDA	A	0.46%
IBKR	A	0.45%
FIX	A	0.44%
DUOL	A	0.44%
COCO	A	0.43%
WSM	C	0.42%
PCOR	B	0.42%
CSL	C	0.41%
LPX	B	0.41%
IOT	A	0.41%
VNO	C	0.41%
ORI	A	0.41%
JEF	A	0.4%
HRB	D	0.4%
NTRA	A	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
EWBC	A	0.39%
POWL	C	0.38%
UTHR	C	0.38%
DKS	D	0.38%
MEDP	D	0.38%
BRX	A	0.37%
AM	A	0.37%
WING	D	0.36%
CNM	D	0.36%
WFRD	D	0.35%
CR	A	0.35%
AYI	B	0.35%
PIPR	A	0.34%
CAVA	B	0.34%
LAMR	C	0.33%
JHG	B	0.31%
WSO	A	0.31%
ITT	A	0.31%
FLEX	B	0.31%
FR	D	0.31%
SOLV	D	0.31%
DDS	B	0.31%
THC	D	0.31%
TPR	B	0.3%
SPXC	A	0.3%
CHE	D	0.3%
GGG	B	0.3%
EXE	A	0.29%
TTEK	F	0.29%
PSTG	D	0.29%
PRI	B	0.28%
R	B	0.28%
AGO	B	0.27%
INTA	B	0.27%
SN	D	0.27%
FCNCA	A	0.27%
SMAR	B	0.26%
ESTC	C	0.26%
GPK	C	0.26%
AMH	C	0.25%
OVV	B	0.25%
MOD	A	0.25%
HURN	C	0.25%
CFR	B	0.25%
TPX	B	0.24%
CBSH	B	0.24%
TREX	C	0.24%
AN	C	0.24%
HALO	F	0.24%
EXEL	B	0.24%
ZION	B	0.24%
CW	C	0.23%
ENTG	D	0.23%
GAP	C	0.23%
LSCC	D	0.23%
AMG	B	0.23%
EXLS	B	0.23%
APA	D	0.22%
RPM	A	0.22%
WS	C	0.22%
COKE	C	0.22%
AXSM	B	0.22%
RNR	C	0.21%
AR	B	0.21%
TOST	B	0.21%
BLD	D	0.21%
AZPN	A	0.21%
SRPT	F	0.2%
ETSY	D	0.2%
LIVN	F	0.2%
RDDT	A	0.2%
XRAY	F	0.2%
ELF	C	0.2%
RRX	B	0.2%
AGCO	D	0.2%
DTM	A	0.2%
DNLI	D	0.2%
BBWI	C	0.2%
WCC	B	0.2%
TPG	A	0.2%
TEX	F	0.19%
M	F	0.19%
RNG	C	0.19%
SMG	C	0.19%
CROX	D	0.19%
ACM	B	0.19%
GH	B	0.19%
HAS	D	0.19%
RRC	B	0.19%
HLI	A	0.18%
KNSL	B	0.18%
ARW	D	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
VCYT	B	0.18%
ESAB	C	0.18%
USFD	A	0.18%
HIW	C	0.18%
OC	A	0.18%
GLPI	C	0.18%
FROG	C	0.18%
DCI	B	0.18%
MMYT	B	0.17%
VOYA	B	0.17%
PVH	C	0.17%
TKR	D	0.17%
LNW	F	0.17%
BRC	D	0.17%
RHI	C	0.17%
XPO	B	0.17%
AIZ	A	0.17%
PRKS	B	0.17%
SF	B	0.17%
KIM	A	0.16%
ALLE	C	0.16%
BL	B	0.16%
BJ	A	0.16%
WTM	A	0.16%
SLM	A	0.16%
LRN	A	0.16%
CVCO	A	0.16%
TOL	B	0.16%
GME	C	0.16%
TNL	A	0.16%
AGNC	C	0.16%
FAF	A	0.16%
OMF	A	0.16%
KFRC	D	0.16%
LBTYA	F	0.15%
GNRC	C	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
GES	F	0.15%
RL	C	0.15%
ONTO	F	0.15%
W	D	0.15%
VMI	B	0.15%
FTAI	A	0.15%
DOCS	C	0.15%
SPB	C	0.15%
CWEN	C	0.15%
SKY	A	0.15%
ESI	B	0.15%
RGLD	C	0.14%
ATI	C	0.14%
VSTO	A	0.14%
IONS	F	0.14%
BRKR	D	0.14%
UA	C	0.14%
TTC	C	0.14%
YEXT	B	0.14%
PCTY	C	0.14%
SCI	B	0.14%
AY	A	0.14%
SPT	C	0.14%
SSD	F	0.14%
VMEO	B	0.13%
BPMC	B	0.13%
THO	B	0.13%
NFG	A	0.13%
BRZE	C	0.13%
BWXT	B	0.13%
GOLF	B	0.13%
RYAN	A	0.13%
KAI	B	0.13%
SFBS	C	0.13%
FYBR	C	0.13%
NUVL	C	0.13%
AA	A	0.13%
MAT	D	0.12%
INSP	D	0.12%
SAIA	B	0.12%
KBR	F	0.12%
BASE	B	0.12%
NYT	D	0.12%
OGE	A	0.12%
WH	B	0.12%
KRC	B	0.12%
WEN	D	0.12%
NOV	C	0.12%
BSY	F	0.12%
FHI	B	0.11%
CYTK	F	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
PARA	C	0.11%
OII	B	0.11%
LOVE	A	0.11%
CUBE	C	0.11%
MFA	D	0.11%
ACAD	C	0.11%
CRUS	D	0.11%
BAND	B	0.11%
MCB	B	0.11%
MDGL	B	0.11%
BCRX	D	0.11%
KW	C	0.1%
ASB	B	0.1%
CHDN	B	0.1%
HP	C	0.1%
BECN	B	0.1%
PNFP	B	0.1%
IVZ	B	0.1%
UGI	C	0.1%
CRDO	B	0.1%
VECO	F	0.1%
LSTR	D	0.1%
NNN	C	0.1%
HUN	F	0.1%
ICFI	F	0.1%
X	B	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
WAL	B	0.1%
BERY	C	0.1%
INSM	C	0.1%
WMS	F	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
EEFT	B	0.09%
CXT	C	0.09%
MTSI	B	0.09%
WSC	F	0.09%
JACK	C	0.09%
MTN	C	0.09%
PCVX	D	0.09%
HEES	C	0.09%
APG	B	0.09%
CAR	C	0.09%
VERA	C	0.09%
LZ	C	0.09%
FLG	D	0.09%
PLNT	A	0.09%
EGP	D	0.09%
BC	C	0.09%
ALIT	C	0.09%
OHI	C	0.09%
MTG	C	0.09%
COUR	F	0.09%
AMLX	C	0.09%
OLN	F	0.09%
WEX	D	0.09%
CUBI	B	0.09%
SON	F	0.09%
VC	F	0.08%
FIVN	C	0.08%
TENB	C	0.08%
LILA	D	0.08%
VIR	D	0.08%
FLR	B	0.08%
RGEN	D	0.08%
PEGA	B	0.08%
OZK	B	0.08%
ELAN	D	0.08%
MKSI	C	0.08%
OSCR	D	0.08%
FHB	B	0.08%
PD	C	0.08%
YETI	D	0.08%
KN	B	0.08%
MASI	B	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%
CUZ	B	0.08%
KSS	F	0.08%
MIDD	C	0.08%
ALV	C	0.08%
AFRM	A	0.07%
CLH	C	0.07%
DH	F	0.07%
AMRX	C	0.07%
PEN	B	0.07%
EYPT	D	0.07%
WYNN	C	0.07%
VAC	C	0.07%
RIG	D	0.07%
AMPL	B	0.07%
FLNC	D	0.07%
WLY	B	0.07%
NBR	C	0.07%
EPAC	C	0.07%
GKOS	B	0.07%
DOMO	B	0.07%
GCO	C	0.07%
ASH	F	0.07%
KNF	B	0.07%
TXRH	B	0.07%
NARI	C	0.07%
NXST	C	0.07%
NVST	B	0.06%
CC	C	0.06%
AVXL	B	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
COTY	F	0.06%
S	B	0.06%
NXT	C	0.06%
ILPT	F	0.06%
AMCX	C	0.06%
TRN	B	0.06%
STWD	C	0.06%
MCY	A	0.06%
MPW	F	0.06%
BRBR	A	0.06%
ITCI	C	0.06%
VKTX	F	0.06%
RUSHA	C	0.06%
FUN	C	0.06%
SOFI	B	0.06%
FLO	D	0.06%
CASY	A	0.06%
IRTC	C	0.06%
RYN	D	0.06%
ADEA	C	0.06%
BCO	F	0.06%
SFL	D	0.06%
ADMA	B	0.06%
APPF	B	0.06%
AZEK	A	0.06%
KD	B	0.06%
FOLD	F	0.05%
AVAV	C	0.05%
SNV	C	0.05%
ACI	C	0.05%
FFIN	B	0.05%
CVBF	A	0.05%
SONO	C	0.05%
PZZA	F	0.05%
ITRI	C	0.05%
LBTYK	A	0.05%
EHC	B	0.05%
BEAM	D	0.05%
SITE	F	0.05%
CERS	D	0.05%
AMBC	C	0.05%
PATH	C	0.05%
HOUS	F	0.05%
MERC	F	0.05%
KOS	D	0.05%
TARS	C	0.05%
SMTC	B	0.05%
ZIP	D	0.05%
VNT	C	0.05%
THR	B	0.05%
WBS	A	0.05%
APLS	F	0.05%
LFUS	D	0.05%
ASAN	B	0.05%
WBA	F	0.05%
PK	C	0.05%
MDXG	B	0.05%
LECO	C	0.05%
ARWR	D	0.04%
FCN	F	0.04%
MAN	F	0.04%
STAG	D	0.04%
MDU	D	0.04%
DAWN	D	0.04%
CORZ	B	0.04%
KREF	C	0.04%
DIN	C	0.04%
PRGO	C	0.04%
FLYW	B	0.04%
AGS	A	0.04%
SANA	F	0.04%
SAH	C	0.04%
ANAB	F	0.04%
NATL	B	0.04%
HELE	C	0.04%
RVMD	C	0.04%
CELH	F	0.04%
ARRY	F	0.04%
ROKU	D	0.04%
BILL	A	0.04%
CFFN	C	0.04%
ANGI	F	0.04%
ACHC	F	0.04%
HSTM	B	0.04%
FHN	A	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	C	0.03%
AXTA	B	0.03%
GMED	A	0.03%
ALHC	C	0.03%
ADT	C	0.03%
LTH	C	0.03%
CHRD	D	0.03%
FL	F	0.03%
RGNX	D	0.03%
VCEL	B	0.03%
EMBC	C	0.03%
DNB	B	0.03%
TGTX	B	0.03%
BBIO	F	0.03%
QXO	D	0.03%
OFIX	C	0.03%
CIEN	C	0.03%
VIRT	A	0.03%
QDEL	F	0.03%
REVG	C	0.03%
SNBR	F	0.03%
CHWY	B	0.03%
IESC	C	0.03%
UDMY	D	0.03%
SLAB	F	0.03%
BRSP	C	0.03%
MGNI	B	0.03%
AMN	F	0.03%
ACCD	D	0.03%
CGEM	F	0.03%
IVR	F	0.03%
TCBI	C	0.03%
RPD	B	0.03%
SPRY	C	0.03%
ATRC	C	0.03%
RLI	A	0.03%
RKT	F	0.03%
UVE	B	0.03%
NRC	F	0.03%
OI	C	0.03%
OLED	F	0.03%
BKD	F	0.03%
RXT	C	0.02%
ERAS	C	0.02%
WOOF	D	0.02%
SSB	B	0.02%
CACI	D	0.02%
OSIS	A	0.02%
MSM	C	0.02%
TSE	F	0.02%
KVYO	C	0.02%
OMER	A	0.02%
VSTS	C	0.02%
DYN	F	0.02%
EVH	F	0.02%
PRO	C	0.02%
RAMP	B	0.02%
QRTEA	F	0.02%
GPRO	F	0.02%
SAFE	F	0.02%
MSA	F	0.02%
JELD	F	0.02%
EDR	A	0.02%
KRNY	C	0.02%
DAN	D	0.02%
DOCN	C	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	C	0.02%
EPR	C	0.02%
BMBL	C	0.02%
OPI	F	0.02%
WTFC	A	0.02%
MTW	C	0.02%
DY	D	0.02%
DBI	F	0.02%
LMAT	A	0.02%
CLVT	D	0.02%
PR	B	0.02%
CRSP	D	0.02%
TLRY	F	0.02%
SITC	D	0.02%
TWO	F	0.02%
CNDT	C	0.02%
OPEN	F	0.02%
SNDX	F	0.02%
WD	D	0.02%
AKRO	B	0.02%
PTCT	B	0.02%
ALGM	D	0.01%
VAL	F	0.01%
DINO	D	0.01%
PGEN	F	0.01%
ARR	D	0.01%
JAMF	F	0.01%
SFIX	B	0.01%
FLWS	D	0.01%
TDC	D	0.01%
XPRO	D	0.01%
MBC	F	0.01%
BIGC	B	0.01%
MLAB	F	0.01%
GO	C	0.01%
JOBY	B	0.01%
UTL	B	0.01%
WTI	F	0.01%
ZUO	B	0.01%
NTLA	F	0.01%
VRE	B	0.01%
TR	B	0.01%
ROIV	C	0.01%
TTGT	B	0.01%
HCAT	D	0.01%
OIS	B	0.01%
RBRK	A	0.01%
HMST	F	0.01%
AXS	A	0.01%
CAKE	C	0.01%
STGW	A	0.01%
OLPX	D	0.01%
GWRE	A	0.01%
PYCR	B	0.01%
HTZ	C	0.01%
MBLY	C	0.01%
SWTX	C	0.01%
PII	F	0.01%
NEXA	B	0.01%
BYD	B	0.01%
UPWK	B	0.01%
HXL	F	0.01%
NFBK	C	0.01%
MAGN	D	0.0%
BFH	C	0.0%
SEE	C	0.0%
GDOT	D	0.0%
EGBN	B	0.0%
BOH	B	0.0%
PFBC	B	0.0%
UNM	A	0.0%
TBBK	B	0.0%
BKU	A	0.0%
CMA	B	0.0%

SMLF Underweight 280 Positions Relative to JPSE

Symbol	Grade	Weight
SMR	B	-0.67%
CALM	A	-0.38%
UEC	B	-0.36%
PLXS	B	-0.36%
KTB	B	-0.35%
LAUR	A	-0.35%
CENX	B	-0.34%
CRVL	B	-0.33%
SKYW	C	-0.33%
ONB	C	-0.32%
FELE	B	-0.31%
QTWO	A	-0.31%
UE	B	-0.31%
AKR	B	-0.31%
TTMI	C	-0.31%
UBSI	B	-0.3%
ABCB	B	-0.3%
ANET	C	-0.3%
SEM	B	-0.3%
NMRK	C	-0.3%
CPK	A	-0.3%
CTRE	C	-0.29%
LTC	B	-0.29%
CCOI	B	-0.29%
ESRT	C	-0.29%
PATK	C	-0.29%
EPRT	B	-0.29%
LZB	B	-0.29%
SBRA	C	-0.29%
CWST	A	-0.29%
MHO	D	-0.28%
STC	B	-0.28%
WDFC	B	-0.28%
ALE	A	-0.28%
NWE	B	-0.28%
AVA	A	-0.28%
SXC	A	-0.28%
HLNE	B	-0.28%
WHD	B	-0.28%
MGY	A	-0.28%
PLAB	C	-0.27%
MTX	B	-0.27%
PECO	A	-0.27%
KBH	D	-0.27%
HLX	B	-0.26%
BNL	D	-0.26%
FCPT	C	-0.26%
GSAT	C	-0.26%
FDP	B	-0.26%
NPO	A	-0.26%
RDNT	B	-0.26%
BHE	C	-0.26%
FUL	F	-0.26%
MTH	D	-0.26%
TRNO	F	-0.25%
ROIC	A	-0.25%
SMPL	B	-0.25%
HLIT	D	-0.25%
INFN	D	-0.25%
SXI	B	-0.25%
JJSF	C	-0.25%
ESNT	F	-0.25%
MGEE	B	-0.25%
DHT	F	-0.25%
ANDE	D	-0.25%
BTU	B	-0.24%
SCVL	F	-0.24%
FIZZ	C	-0.24%
IRT	A	-0.24%
UFPT	C	-0.24%
HOMB	A	-0.24%
IIPR	D	-0.24%
ECVT	C	-0.23%
EFC	C	-0.23%
SWBI	C	-0.23%
CABO	B	-0.23%
NMIH	C	-0.23%
CDE	C	-0.23%
APLE	B	-0.23%
DGII	C	-0.23%
SXT	C	-0.23%
ETD	C	-0.23%
ESGR	B	-0.22%
UTZ	D	-0.22%
COLL	F	-0.22%
UCTT	D	-0.22%
GPOR	B	-0.22%
CTS	C	-0.22%
AAT	B	-0.22%
ABM	B	-0.21%
ORA	B	-0.21%
ADUS	D	-0.21%
GRBK	D	-0.21%
CRK	B	-0.21%
SCSC	C	-0.21%
CATY	B	-0.21%
KOP	C	-0.21%
HL	D	-0.2%
NTGR	B	-0.2%
STNG	F	-0.2%
FORM	D	-0.2%
DBRG	F	-0.2%
OEC	C	-0.2%
DRH	B	-0.2%
SHOO	F	-0.19%
LBRT	D	-0.19%
INSW	F	-0.19%
WKC	C	-0.19%
STRA	C	-0.19%
ASTH	F	-0.19%
REX	D	-0.19%
COHU	C	-0.19%
CWT	C	-0.19%
SCL	C	-0.19%
KWR	C	-0.19%
KNTK	A	-0.18%
EAF	C	-0.18%
HAYN	A	-0.18%
LXU	B	-0.18%
AZZ	A	-0.18%
DEA	D	-0.17%
APAM	B	-0.17%
LILAK	D	-0.17%
TROX	D	-0.17%
CNXN	C	-0.17%
HOPE	C	-0.17%
EGHT	B	-0.17%
NWBI	B	-0.17%
MTUS	C	-0.17%
ANIP	F	-0.17%
DIOD	D	-0.17%
AMSC	B	-0.17%
USPH	B	-0.17%
URBN	C	-0.17%
VCTR	B	-0.16%
CSTM	F	-0.16%
DOLE	D	-0.16%
RYAM	C	-0.16%
WMK	C	-0.16%
NOG	B	-0.16%
PMT	C	-0.16%
GTY	A	-0.16%
CMRE	C	-0.16%
MGRC	B	-0.16%
GOGO	C	-0.15%
WSR	A	-0.15%
THS	D	-0.15%
ALEX	B	-0.15%
SGRY	F	-0.15%
ACRE	B	-0.15%
SJW	F	-0.15%
CLW	F	-0.15%
CLFD	F	-0.15%
CSGS	B	-0.15%
EE	A	-0.15%
RGR	F	-0.14%
RNST	B	-0.14%
SPTN	D	-0.14%
SFNC	C	-0.14%
LCII	C	-0.14%
WSBC	B	-0.14%
AUB	B	-0.13%
FUBO	D	-0.13%
FFBC	B	-0.13%
SHEN	F	-0.13%
MLKN	F	-0.13%
CHEF	A	-0.13%
PARR	F	-0.13%
BGS	F	-0.13%
METC	C	-0.13%
HVT	D	-0.13%
ASIX	B	-0.13%
INN	D	-0.12%
ZEUS	C	-0.12%
ACT	C	-0.12%
PBI	B	-0.11%
BZH	C	-0.11%
ASC	F	-0.11%
CCS	D	-0.11%
WT	A	-0.11%
VREX	B	-0.11%
COMM	D	-0.11%
MGPI	F	-0.11%
CNSL	C	-0.1%
OMCL	C	-0.1%
ARI	C	-0.1%
SD	D	-0.1%
HRMY	D	-0.1%
RDUS	B	-0.1%
BXC	B	-0.1%
OCFC	B	-0.1%
GNK	D	-0.1%
IPI	C	-0.09%
ICHR	C	-0.09%
EGY	D	-0.09%
MSEX	C	-0.09%
PNTG	D	-0.09%
MOV	D	-0.09%
RES	D	-0.09%
CMCO	C	-0.09%
PRM	C	-0.08%
FCF	B	-0.08%
SAFT	B	-0.08%
CSTL	D	-0.08%
SLP	D	-0.08%
RUN	F	-0.08%
DORM	B	-0.08%
PSMT	D	-0.07%
FRME	B	-0.07%
FLNG	C	-0.07%
NHC	C	-0.07%
HUBG	A	-0.07%
TRST	B	-0.07%
THRM	F	-0.07%
NEO	C	-0.07%
BUSE	B	-0.06%
AHCO	F	-0.06%
CHCT	C	-0.06%
RBCAA	B	-0.06%
MWA	B	-0.06%
ZUMZ	B	-0.06%
B	A	-0.06%
USAP	B	-0.06%
FLGT	F	-0.06%
RWT	D	-0.06%
AMWD	C	-0.06%
CWCO	C	-0.06%
NAT	F	-0.05%
HCSG	C	-0.05%
ZYXI	D	-0.05%
MEI	F	-0.05%
AVNS	F	-0.05%
NPK	B	-0.05%
KRO	C	-0.05%
PLL	C	-0.05%
AVNW	F	-0.05%
MYGN	F	-0.05%
CCRN	F	-0.04%
SCHL	F	-0.04%
GTN	F	-0.04%
TH	C	-0.04%
NATR	C	-0.04%
WOW	C	-0.04%
NR	B	-0.04%
VRNT	C	-0.04%
HMN	B	-0.04%
ATEX	F	-0.04%
RC	D	-0.03%
OSPN	A	-0.03%
MXL	C	-0.03%
CWH	B	-0.03%
THFF	B	-0.03%
STAA	F	-0.03%
DXPE	C	-0.03%
MYE	F	-0.03%
LFMD	D	-0.03%
CSV	B	-0.03%
GRWG	D	-0.03%
GIC	D	-0.02%
RGP	F	-0.02%
CCSI	C	-0.02%
VRTS	B	-0.02%
LWLG	D	-0.02%
TG	D	-0.02%
MMI	C	-0.02%
SRDX	B	-0.02%
CIX	D	-0.02%
AVD	C	-0.02%
TRS	B	-0.02%
AAOI	B	-0.02%
PCRX	C	-0.02%
TRTX	C	-0.01%
TBI	F	-0.01%
BH	B	-0.01%
BOOM	F	-0.01%
AOSL	C	-0.01%
UNF	B	-0.01%
ANIK	D	-0.01%
RBBN	C	-0.0%
STHO	F	-0.0%