SMLF vs. SMLV ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to SPDR Russell 2000 Low Volatility (SMLV)

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

SMLV

SPDR Russell 2000 Low Volatility

SMLV Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a small cap, low volatility index. The fund employs a sampling strategy, which means that the fund is not required to purchase all of the securities represented in the index. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index includes small cap U.S. equity securities, including business development companies, and is designed to deliver exposure to low volatility. It is non-diversified.

Grade (RS Rating)

Last Trade

$139.06

Average Daily Volume

5,752

Number of Holdings ^*

404

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	SMLV
30 Days	10.53%	11.47%
60 Days	10.49%	11.54%
90 Days	11.95%	11.93%
12 Months	40.74%	41.14%

134 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in SMLV	Overlap
ACA	A	0.1%	0.13%	0.1%
ACAD	D	0.11%	0.02%	0.02%
ADMA	B	0.06%	0.13%	0.06%
AEIS	B	0.01%	0.05%	0.01%
AGM	C	0.1%	0.83%	0.1%
AGX	B	0.08%	0.38%	0.08%
AIN	C	0.01%	0.05%	0.01%
ALKS	B	0.3%	0.05%	0.05%
ALRM	C	0.03%	0.04%	0.03%
AMN	F	0.03%	0.02%	0.02%
AMPH	D	0.07%	0.04%	0.04%
APOG	B	0.11%	0.09%	0.09%
ARCH	B	0.03%	0.06%	0.03%
AROC	B	0.12%	0.11%	0.11%
ASGN	F	0.01%	0.05%	0.01%
ASH	D	0.07%	0.08%	0.07%
ATEN	B	0.09%	0.06%	0.06%
ATRC	C	0.03%	0.04%	0.03%
BKH	A	0.01%	0.21%	0.01%
BL	B	0.16%	0.05%	0.05%
BLKB	B	0.13%	0.09%	0.09%
BMI	B	0.16%	0.13%	0.13%
BOX	B	0.08%	0.07%	0.07%
BRC	D	0.17%	0.14%	0.14%
CFFN	B	0.04%	0.56%	0.04%
CHCO	B	0.0%	1.25%	0.0%
CNMD	C	0.07%	0.04%	0.04%
CNO	A	0.16%	1.14%	0.16%
CORT	B	0.3%	0.08%	0.08%
CRC	B	0.1%	0.09%	0.09%
CSWI	A	0.08%	0.19%	0.08%
CTBI	B	0.06%	0.68%	0.06%
CUZ	B	0.08%	0.1%	0.08%
CVCO	A	0.16%	0.06%	0.06%
CVLT	B	0.08%	0.14%	0.08%
CXT	B	0.09%	0.06%	0.06%
DEI	B	0.0%	0.1%	0.0%
DNB	B	0.03%	0.09%	0.03%
EIG	B	0.0%	0.86%	0.0%
ENS	D	0.04%	0.07%	0.04%
EPAC	B	0.07%	0.08%	0.07%
EQC	B	0.07%	0.64%	0.07%
EVTC	B	0.03%	0.65%	0.03%
EXPO	D	0.09%	0.12%	0.09%
FFIN	B	0.05%	1.19%	0.05%
FLO	D	0.06%	0.26%	0.06%
FSS	B	0.02%	0.11%	0.02%
FULT	A	0.0%	0.98%	0.0%
GATX	A	0.15%	0.13%	0.13%
GEF	A	0.01%	0.12%	0.01%
GKOS	B	0.07%	0.05%	0.05%
GPI	A	0.22%	0.07%	0.07%
HAE	C	0.2%	0.06%	0.06%
HCC	B	0.06%	0.11%	0.06%
HELE	C	0.04%	0.03%	0.03%
HI	C	0.09%	0.03%	0.03%
HIW	D	0.18%	0.1%	0.1%
HLF	C	0.04%	0.03%	0.03%
HNI	B	0.03%	0.11%	0.03%
HSII	B	0.31%	0.1%	0.1%
HSTM	B	0.04%	0.14%	0.04%
HUN	F	0.1%	0.05%	0.05%
HURN	B	0.25%	0.08%	0.08%
HWKN	B	0.06%	0.12%	0.06%
IBOC	A	0.11%	1.07%	0.11%
ICFI	F	0.1%	0.14%	0.1%
IDA	A	0.46%	0.26%	0.26%
INSM	C	0.1%	0.08%	0.08%
INVA	D	0.09%	0.1%	0.09%
IOSP	B	0.04%	0.08%	0.04%
IRWD	F	0.02%	0.03%	0.02%
ITGR	B	0.05%	0.07%	0.05%
JBSS	D	0.17%	0.09%	0.09%
KAI	A	0.13%	0.09%	0.09%
KFRC	D	0.16%	0.07%	0.07%
KN	B	0.08%	0.07%	0.07%
KREF	D	0.04%	0.11%	0.04%
KRNY	B	0.02%	0.31%	0.02%
KW	B	0.1%	0.1%	0.1%
LIVN	F	0.2%	0.05%	0.05%
LMAT	A	0.02%	0.11%	0.02%
LXP	D	0.07%	0.13%	0.07%
MLAB	D	0.01%	0.05%	0.01%
MMSI	B	0.14%	0.06%	0.06%
MOG.A	B	0.03%	0.1%	0.03%
MTRN	C	0.1%	0.05%	0.05%
NARI	C	0.07%	0.04%	0.04%
NBTB	B	0.0%	1.37%	0.0%
NFBK	B	0.01%	0.35%	0.01%
NFG	A	0.13%	0.48%	0.13%
NHI	D	0.04%	0.12%	0.04%
NRC	F	0.03%	0.03%	0.03%
NTCT	C	0.11%	0.1%	0.1%
NVST	B	0.06%	0.05%	0.05%
NWN	A	0.01%	0.19%	0.01%
OFIX	B	0.03%	0.06%	0.03%
OSIS	B	0.02%	0.11%	0.02%
OXM	D	0.06%	0.03%	0.03%
PBH	A	0.09%	0.15%	0.09%
PCH	D	0.01%	0.08%	0.01%
PDCO	D	0.02%	0.04%	0.02%
PLUS	F	0.07%	0.06%	0.06%
POWI	D	0.01%	0.05%	0.01%
PRDO	B	0.0%	0.08%	0.0%
PRGO	B	0.04%	0.06%	0.04%
PRGS	A	0.18%	0.11%	0.11%
PTCT	B	0.02%	0.04%	0.02%
PZZA	D	0.05%	0.04%	0.04%
RDN	C	0.06%	0.82%	0.06%
RUSHA	C	0.06%	0.11%	0.06%
SANM	B	0.22%	0.07%	0.07%
SATS	D	0.12%	0.06%	0.06%
SFL	D	0.06%	0.06%	0.06%
SPB	C	0.15%	0.05%	0.05%
SR	A	0.12%	0.19%	0.12%
SRCE	B	0.16%	0.76%	0.16%
SUPN	C	0.03%	0.07%	0.03%
TGNA	B	0.09%	0.13%	0.09%
TNC	D	0.06%	0.07%	0.06%
TPH	D	0.14%	0.05%	0.05%
TRMK	B	0.0%	1.0%	0.0%
TTGT	C	0.01%	0.05%	0.01%
USNA	C	0.02%	0.04%	0.02%
VAL	D	0.01%	0.06%	0.01%
VECO	F	0.1%	0.03%	0.03%
VIAV	B	0.03%	0.07%	0.03%
VIRT	B	0.03%	1.49%	0.03%
VMI	B	0.15%	0.13%	0.13%
VSH	D	0.09%	0.05%	0.05%
WAFD	B	0.12%	0.93%	0.12%
WEN	D	0.12%	0.1%	0.1%
WK	B	0.34%	0.05%	0.05%
XNCR	B	0.15%	0.05%	0.05%
ZIP	F	0.05%	0.04%	0.04%

SMLF Overweight 676 Positions Relative to SMLV

Symbol	Grade	Weight
APP	B	1.49%
EME	C	0.94%
EVR	B	0.81%
MSTR	C	0.73%
DECK	A	0.72%
AXON	A	0.66%
SFM	A	0.6%
ALSN	B	0.56%
NTNX	A	0.56%
JBL	B	0.55%
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%
IBKR	A	0.45%
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%
LPX	B	0.41%
IOT	A	0.41%
VNO	B	0.41%
ORI	A	0.41%
JEF	A	0.4%
HRB	D	0.4%
NTRA	B	0.4%
LBRDA	C	0.4%
GTLB	B	0.39%
EWBC	A	0.39%
POWL	C	0.38%
UTHR	C	0.38%
DKS	C	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	B	0.34%
CAVA	B	0.34%
LAMR	D	0.33%
JHG	A	0.31%
WSO	A	0.31%
ITT	A	0.31%
FLEX	A	0.31%
FR	C	0.31%
SOLV	C	0.31%
MAC	B	0.31%
DDS	B	0.31%
THC	D	0.31%
TPR	B	0.3%
SPXC	A	0.3%
ANF	C	0.3%
CHE	D	0.3%
GGG	B	0.3%
EXE	B	0.29%
TTEK	F	0.29%
STRL	B	0.29%
PSTG	D	0.29%
PRI	A	0.28%
R	B	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%
GPK	C	0.26%
AMH	D	0.25%
OVV	B	0.25%
MOD	A	0.25%
CFR	B	0.25%
TPX	B	0.24%
CPRX	C	0.24%
CBSH	A	0.24%
TREX	C	0.24%
RMBS	C	0.24%
AN	C	0.24%
SKT	B	0.24%
HALO	F	0.24%
EXEL	B	0.24%
IMKTA	C	0.24%
ZION	B	0.24%
CW	B	0.23%
ENTG	D	0.23%
GAP	C	0.23%
LSCC	D	0.23%
AMG	B	0.23%
YOU	D	0.23%
UFPI	B	0.23%
EXLS	B	0.23%
BCC	B	0.22%
APA	D	0.22%
RPM	A	0.22%
WS	B	0.22%
COKE	C	0.22%
AXSM	B	0.22%
MATX	C	0.21%
RNR	C	0.21%
AR	B	0.21%
TOST	B	0.21%
BLD	D	0.21%
AZPN	A	0.21%
SRPT	D	0.2%
ETSY	D	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%
DTM	B	0.2%
DNLI	D	0.2%
BBWI	D	0.2%
WCC	B	0.2%
TPG	A	0.2%
LUMN	C	0.2%
TEX	D	0.19%
M	D	0.19%
RNG	B	0.19%
SMG	D	0.19%
JOE	F	0.19%
CROX	D	0.19%
NAVI	C	0.19%
ACM	A	0.19%
GH	B	0.19%
MUR	D	0.19%
HAS	D	0.19%
RRC	B	0.19%
HLI	B	0.18%
KNSL	B	0.18%
XRX	F	0.18%
ARW	D	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
VCYT	B	0.18%
ESAB	B	0.18%
USFD	A	0.18%
OC	A	0.18%
GLPI	C	0.18%
FROG	C	0.18%
DCI	B	0.18%
AVNT	B	0.18%
MMYT	B	0.17%
VOYA	B	0.17%
PVH	C	0.17%
ACLX	C	0.17%
TKR	D	0.17%
LNW	D	0.17%
LNTH	D	0.17%
PDM	D	0.17%
PRG	C	0.17%
KRG	B	0.17%
RHI	B	0.17%
XPO	B	0.17%
AIZ	A	0.17%
EXTR	B	0.17%
PRKS	C	0.17%
SF	B	0.17%
KIM	A	0.16%
IVT	B	0.16%
ALLE	D	0.16%
BJ	A	0.16%
WTM	A	0.16%
SLM	A	0.16%
LRN	A	0.16%
TOL	B	0.16%
GME	C	0.16%
TNL	A	0.16%
AGNC	D	0.16%
FAF	A	0.16%
OMF	A	0.16%
PGRE	F	0.16%
LBTYA	B	0.15%
GNRC	B	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
GES	F	0.15%
RL	B	0.15%
ONTO	D	0.15%
W	F	0.15%
FTAI	B	0.15%
DOCS	C	0.15%
ABG	B	0.15%
CWEN	C	0.15%
SKY	A	0.15%
ESI	A	0.15%
AMR	C	0.14%
UMBF	B	0.14%
RGLD	C	0.14%
ATI	D	0.14%
VSTO	A	0.14%
IGT	F	0.14%
BANF	B	0.14%
NOVT	D	0.14%
IONS	F	0.14%
PI	D	0.14%
CMC	B	0.14%
BRKR	D	0.14%
NJR	A	0.14%
ENSG	D	0.14%
UA	C	0.14%
TTC	D	0.14%
YEXT	A	0.14%
PCTY	B	0.14%
SCI	B	0.14%
AY	B	0.14%
SPT	C	0.14%
SSD	D	0.14%
VMEO	B	0.13%
BPMC	C	0.13%
THO	B	0.13%
IPAR	B	0.13%
TNET	D	0.13%
ACCO	C	0.13%
OGS	A	0.13%
BRZE	C	0.13%
BWXT	B	0.13%
GOLF	B	0.13%
RYAN	B	0.13%
BDN	C	0.13%
QLYS	C	0.13%
SFBS	B	0.13%
FYBR	D	0.13%
NUVL	D	0.13%
AA	B	0.13%
MAT	D	0.12%
INSP	D	0.12%
AWR	B	0.12%
SAIA	B	0.12%
KBR	F	0.12%
GEO	B	0.12%
BASE	C	0.12%
ACLS	F	0.12%
NYT	C	0.12%
OGE	B	0.12%
GFF	A	0.12%
BKE	B	0.12%
WH	B	0.12%
KRC	C	0.12%
NOV	C	0.12%
AIT	A	0.12%
CBT	C	0.12%
BSY	D	0.12%
WTS	B	0.12%
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%
OII	B	0.11%
DFIN	D	0.11%
LOVE	B	0.11%
CUBE	D	0.11%
MFA	D	0.11%
HTH	B	0.11%
CRUS	D	0.11%
CARG	C	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%
BCRX	D	0.11%
ASB	B	0.1%
CHDN	B	0.1%
HP	B	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%
CRDO	B	0.1%
LSTR	D	0.1%
NNN	D	0.1%
HOV	D	0.1%
SYNA	C	0.1%
X	C	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
WAL	B	0.1%
KLIC	B	0.1%
BERY	B	0.1%
WMS	D	0.1%
VRNS	D	0.1%
HIMS	B	0.1%
EEFT	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%
HEES	B	0.09%
APG	B	0.09%
LGND	B	0.09%
CAR	C	0.09%
VERA	B	0.09%
LZ	D	0.09%
FLG	C	0.09%
IDCC	A	0.09%
PLNT	A	0.09%
EGP	F	0.09%
BC	C	0.09%
ALIT	C	0.09%
TMHC	B	0.09%
OHI	C	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	C	0.09%
SON	D	0.09%
CRS	A	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%
PEGA	A	0.08%
OZK	B	0.08%
CAL	D	0.08%
ELAN	D	0.08%
MKSI	C	0.08%
SCS	C	0.08%
OSCR	D	0.08%
FHB	A	0.08%
PD	C	0.08%
YETI	C	0.08%
MASI	A	0.08%
GMS	B	0.08%
WOR	F	0.08%
CACC	D	0.08%
DLX	B	0.08%
VFC	C	0.08%
NSSC	D	0.08%
KSS	F	0.08%
CARS	B	0.08%
MIDD	C	0.08%
BDC	B	0.08%
ALV	C	0.08%
AFRM	B	0.07%
UNIT	B	0.07%
CLH	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%
VAC	B	0.07%
RIG	D	0.07%
POR	C	0.07%
AMPL	C	0.07%
FLNC	C	0.07%
WLY	B	0.07%
NBR	C	0.07%
NTB	B	0.07%
DOMO	C	0.07%
GCO	B	0.07%
KNF	A	0.07%
SM	B	0.07%
TXRH	C	0.07%
SNEX	B	0.07%
CEIX	A	0.07%
NXST	C	0.07%
WNC	C	0.07%
CC	C	0.06%
AVXL	B	0.06%
YELP	C	0.06%
AVDX	B	0.06%
GPMT	C	0.06%
COTY	F	0.06%
S	B	0.06%
FN	D	0.06%
NXT	C	0.06%
ILPT	D	0.06%
AMCX	C	0.06%
CNX	A	0.06%
TRN	C	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%
FUN	C	0.06%
ASO	F	0.06%
LADR	B	0.06%
NSIT	F	0.06%
SOFI	A	0.06%
WTTR	B	0.06%
CASY	A	0.06%
IRTC	D	0.06%
RYN	D	0.06%
ADEA	D	0.06%
BCO	D	0.06%
AIV	C	0.06%
APPF	B	0.06%
AZEK	A	0.06%
OTTR	C	0.06%
HE	C	0.06%
UVV	B	0.06%
KD	B	0.06%
MED	F	0.06%
FOLD	F	0.05%
AVAV	D	0.05%
SNV	B	0.05%
ACI	C	0.05%
CVBF	A	0.05%
SONO	C	0.05%
ITRI	B	0.05%
LBTYK	A	0.05%
EHC	B	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%
VNT	B	0.05%
THR	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%
FCN	D	0.04%
MAN	D	0.04%
HPP	F	0.04%
STAG	F	0.04%
MDU	D	0.04%
DAWN	F	0.04%
CORZ	A	0.04%
PFSI	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%
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%
OMI	F	0.04%
ANGI	D	0.04%
IBP	D	0.04%
ACHC	F	0.04%
MMS	F	0.04%
FHN	A	0.04%
BCPC	B	0.04%
TDS	B	0.04%
RCUS	F	0.04%
JANX	C	0.03%
SWIM	C	0.03%
AXTA	A	0.03%
GMED	A	0.03%
ALHC	C	0.03%
RDFN	D	0.03%
ADT	C	0.03%
LTH	C	0.03%
CHRD	D	0.03%
FL	F	0.03%
VNDA	C	0.03%
RGNX	F	0.03%
VCEL	B	0.03%
NX	C	0.03%
EMBC	C	0.03%
TGTX	B	0.03%
BBIO	F	0.03%
QXO	D	0.03%
XHR	B	0.03%
CIEN	B	0.03%
QDEL	F	0.03%
REVG	B	0.03%
SNBR	F	0.03%
RYI	C	0.03%
CHWY	B	0.03%
IESC	B	0.03%
UDMY	F	0.03%
SLAB	D	0.03%
BRSP	B	0.03%
CDP	C	0.03%
MGNI	A	0.03%
ACCD	D	0.03%
VITL	D	0.03%
CGEM	F	0.03%
IVR	F	0.03%
TCBI	B	0.03%
RPD	C	0.03%
SPRY	D	0.03%
CNS	B	0.03%
RLI	B	0.03%
RKT	F	0.03%
UVE	B	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%
SSB	B	0.02%
CACI	D	0.02%
SLVM	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%
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%
DAN	D	0.02%
DOCN	D	0.02%
ALAB	B	0.02%
EVRI	A	0.02%
NWL	B	0.02%
NUS	D	0.02%
EPR	D	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%
CLVT	F	0.02%
PR	B	0.02%
RLJ	C	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%
LANC	C	0.02%
ARCB	C	0.02%
CALX	D	0.02%
CWK	B	0.01%
ALGM	D	0.01%
DINO	D	0.01%
PGEN	F	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%
GO	C	0.01%
JOBY	B	0.01%
UTL	B	0.01%
WTI	F	0.01%
ZUO	B	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%
ROIV	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%
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%
PII	D	0.01%
NEXA	C	0.01%
BYD	C	0.01%
UPWK	B	0.01%
HXL	D	0.01%
SHO	C	0.01%
MAGN	F	0.0%
BFH	B	0.0%
MC	C	0.0%
SEE	C	0.0%
GDOT	D	0.0%
EGBN	B	0.0%
JXN	C	0.0%
BOH	B	0.0%
GNW	A	0.0%
PFBC	B	0.0%
CASH	A	0.0%
UNM	A	0.0%
TBBK	B	0.0%
FBP	B	0.0%
BKU	A	0.0%
CMA	A	0.0%
AX	A	0.0%
OFG	B	0.0%

SMLF Underweight 270 Positions Relative to SMLV

Symbol	Grade	Weight
PJT	A	-1.89%
CBU	B	-1.65%
THG	A	-1.63%
NNI	D	-1.56%
ONB	B	-1.44%
PRK	B	-1.42%
NWBI	B	-1.17%
NBHC	B	-1.15%
SYBT	B	-1.13%
ESGR	B	-1.12%
SASR	B	-1.09%
EFSC	B	-1.08%
HMN	B	-1.08%
TOWN	B	-1.06%
MGRC	B	-1.02%
GBCI	B	-1.02%
FCF	A	-1.02%
GCMG	B	-1.01%
QCRH	A	-0.97%
NIC	B	-0.96%
BUSE	B	-0.96%
WABC	B	-0.95%
HOMB	A	-0.93%
STBA	B	-0.91%
WSBC	A	-0.89%
SFNC	B	-0.85%
GABC	B	-0.84%
BLX	C	-0.84%
LKFN	B	-0.81%
SAFT	C	-0.79%
PEBO	A	-0.77%
AMSF	B	-0.73%
BRKL	B	-0.72%
WU	D	-0.71%
FBMS	B	-0.68%
SBSI	B	-0.67%
OBK	B	-0.65%
TMP	B	-0.63%
PAX	B	-0.61%
OKLO	B	-0.61%
BFC	B	-0.6%
HFWA	B	-0.59%
UVSP	B	-0.59%
FMBH	B	-0.57%
BHRB	B	-0.56%
FCBC	B	-0.48%
TRST	A	-0.44%
CAC	B	-0.44%
MCBS	B	-0.4%
TRIN	A	-0.4%
AROW	B	-0.37%
GSBC	B	-0.37%
CCNE	B	-0.37%
FMNB	B	-0.36%
THFF	B	-0.36%
HTBI	B	-0.35%
ESQ	A	-0.34%
HONE	B	-0.34%
BHB	B	-0.34%
CCBG	B	-0.33%
SMBK	B	-0.33%
MPB	B	-0.31%
SPFI	B	-0.3%
DHIL	A	-0.3%
HIFS	B	-0.29%
BSRR	B	-0.28%
ORRF	B	-0.27%
FMAO	B	-0.27%
ALRS	D	-0.27%
EBF	F	-0.25%
ACNB	B	-0.25%
FBIZ	B	-0.25%
FSBC	B	-0.24%
GLRE	B	-0.24%
HBCP	B	-0.23%
EBTC	B	-0.23%
WTBA	B	-0.23%
PFIS	A	-0.23%
PNM	F	-0.23%
MGEE	C	-0.23%
NWE	B	-0.22%
BWB	B	-0.21%
NHC	C	-0.21%
CZNC	B	-0.2%
FSBW	B	-0.2%
SLGN	A	-0.2%
CPK	A	-0.2%
PECO	A	-0.2%
ARTNA	D	-0.19%
SBR	B	-0.19%
GNTY	A	-0.19%
FLIC	B	-0.19%
FNLC	B	-0.18%
FRST	B	-0.17%
GTY	B	-0.17%
VLGEA	B	-0.17%
NPK	B	-0.17%
PSTL	D	-0.16%
DEA	D	-0.16%
SXT	B	-0.16%
CBNK	B	-0.16%
WSBF	C	-0.16%
JJSF	B	-0.15%
CTO	B	-0.15%
GPOR	B	-0.15%
CMPO	A	-0.15%
WT	B	-0.15%
CALM	A	-0.15%
TRS	B	-0.14%
WERN	C	-0.14%
ROAD	A	-0.14%
FELE	B	-0.14%
PLXS	B	-0.14%
HTLD	B	-0.14%
TRC	F	-0.14%
GOOD	B	-0.13%
GENC	B	-0.13%
SNDR	B	-0.13%
BCAL	B	-0.13%
UNF	B	-0.13%
CSR	B	-0.13%
LTC	B	-0.13%
ELME	D	-0.13%
ARKO	C	-0.13%
PINC	B	-0.12%
SMP	B	-0.12%
FTDR	A	-0.12%
FCPT	C	-0.12%
COLM	B	-0.12%
ESE	B	-0.12%
CBZ	B	-0.12%
HCKT	B	-0.12%
UTMD	F	-0.12%
BNL	D	-0.12%
CSGS	B	-0.12%
PKE	B	-0.12%
MWA	B	-0.12%
MRTN	C	-0.11%
RNGR	B	-0.11%
UHT	D	-0.11%
PRIM	A	-0.11%
SXC	A	-0.11%
GHC	C	-0.11%
GRC	A	-0.11%
SCL	C	-0.11%
NTST	D	-0.11%
BHE	B	-0.11%
UFPT	B	-0.11%
MLR	B	-0.11%
CTRE	D	-0.11%
DORM	B	-0.11%
CASS	B	-0.1%
MSGS	A	-0.1%
LNN	B	-0.1%
IRT	A	-0.1%
NCNO	B	-0.1%
WDFC	B	-0.1%
PAHC	C	-0.1%
HUBG	A	-0.1%
ACIW	B	-0.1%
NOMD	D	-0.09%
GLDD	B	-0.09%
ALG	B	-0.09%
SXI	B	-0.09%
BBSI	B	-0.09%
WINA	B	-0.09%
CHCT	C	-0.09%
RDWR	B	-0.09%
BFS	C	-0.09%
ADUS	D	-0.09%
CCOI	B	-0.09%
AFCG	D	-0.09%
ICUI	D	-0.09%
APLE	B	-0.08%
AVT	C	-0.08%
PSMT	C	-0.08%
JBGS	D	-0.08%
MRCY	B	-0.08%
AHH	D	-0.08%
LZB	B	-0.08%
ABM	B	-0.08%
TTMI	B	-0.08%
RLGT	A	-0.08%
GMRE	F	-0.08%
RGP	F	-0.08%
MTX	B	-0.08%
OMCL	C	-0.08%
FPI	B	-0.08%
PBT	C	-0.08%
LOPE	B	-0.08%
CNNE	B	-0.07%
SPOK	C	-0.07%
MGIC	F	-0.07%
TRNS	D	-0.07%
PLOW	D	-0.07%
AZZ	B	-0.07%
WEYS	C	-0.07%
CTS	C	-0.07%
JBT	B	-0.07%
LAUR	A	-0.07%
IRMD	C	-0.06%
ECVT	C	-0.06%
SEM	B	-0.06%
CMCO	B	-0.06%
RDNT	B	-0.06%
GPRK	C	-0.06%
FUL	F	-0.06%
MNRO	D	-0.06%
FSTR	B	-0.06%
MYRG	B	-0.06%
ITRN	B	-0.06%
FORR	D	-0.06%
ENV	B	-0.06%
CENT	C	-0.06%
IBEX	B	-0.06%
AGIO	C	-0.06%
SHOO	D	-0.06%
CABO	C	-0.06%
RGR	F	-0.06%
CSV	B	-0.06%
LGTY	D	-0.06%
AMED	F	-0.05%
AORT	B	-0.05%
ATEX	D	-0.05%
JOUT	D	-0.05%
ETD	C	-0.05%
MEI	D	-0.05%
CRI	D	-0.05%
MATW	C	-0.05%
NATR	C	-0.05%
ATNI	F	-0.05%
IRDM	D	-0.05%
NVEC	C	-0.05%
DK	C	-0.05%
AVNS	F	-0.05%
LILAK	D	-0.05%
SPNS	F	-0.05%
SCSC	B	-0.05%
CEVA	B	-0.05%
STRA	C	-0.05%
ZD	C	-0.05%
SHEN	F	-0.04%
TBPH	C	-0.04%
THRM	D	-0.04%
ANIP	F	-0.04%
KIDS	D	-0.04%
HRMY	D	-0.04%
NEOG	F	-0.04%
FORM	D	-0.04%
USPH	B	-0.04%
IPGP	D	-0.04%
VRNT	C	-0.04%
BOWL	C	-0.04%
SRDX	B	-0.04%
VPG	D	-0.04%
IART	C	-0.04%
ANIK	F	-0.03%
CBRL	C	-0.03%
RARE	D	-0.03%
OGN	D	-0.03%
JBI	F	-0.03%
PCRX	C	-0.03%
ARCO	F	-0.03%
SCHL	D	-0.03%
CNXC	F	-0.03%
LEG	F	-0.03%
VREX	C	-0.03%
AZTA	D	-0.02%
AAP	C	-0.02%
IMTX	F	-0.02%