SMLF vs. USVM ETF Comparison

Comparison of iShares FactorSelect MSCI USA Small-Cap ETF (SMLF) to VictoryShares USAA MSCI USA Small Cap Value Momentum ETF (USVM)

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

USVM

VictoryShares USAA MSCI USA Small Cap Value Momentum ETF

USVM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the MSCI USA Small Cap Select Value Momentum Blend Index. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is designed to deliver exposure to equity securities of small-capitalization U.S. issuers within the MSCI USA Small Cap Index (the parent index) that have higher exposure to value and momentum factors while also maintaining moderate index turnover and lower realized volatility than traditional capitalization weighted indexes.

Grade (RS Rating)

Last Trade

$91.12

Average Daily Volume

7,002

Number of Holdings ^*

278

* may have additional holdings in another (foreign) market

Performance

Period	SMLF	USVM
30 Days	10.53%	8.14%
60 Days	10.49%	7.88%
90 Days	11.95%	9.06%
12 Months	40.74%	39.19%

170 Overlapping Holdings

Symbol	Grade	Weight in SMLF	Weight in USVM	Overlap
ABG	B	0.15%	0.33%	0.15%
ADMA	B	0.06%	0.22%	0.06%
AEO	F	0.05%	0.26%	0.05%
AGO	B	0.27%	0.49%	0.27%
ALSN	B	0.56%	0.49%	0.49%
AMR	C	0.14%	0.19%	0.14%
AMRX	C	0.07%	0.26%	0.07%
AN	C	0.24%	0.31%	0.24%
ANF	C	0.3%	0.18%	0.18%
AROC	B	0.12%	0.38%	0.12%
ARW	D	0.18%	0.41%	0.18%
ASB	B	0.1%	0.45%	0.1%
AXS	A	0.01%	0.54%	0.01%
BCC	B	0.22%	0.29%	0.22%
BCO	D	0.06%	0.38%	0.06%
BFH	B	0.0%	0.24%	0.0%
BKD	D	0.03%	0.2%	0.03%
BMBL	D	0.02%	0.23%	0.02%
BPOP	B	0.53%	0.42%	0.42%
CACI	D	0.02%	0.69%	0.02%
CAL	D	0.08%	0.23%	0.08%
CAR	C	0.09%	0.23%	0.09%
CHRD	D	0.03%	0.39%	0.03%
CLH	B	0.07%	0.47%	0.07%
CMC	B	0.14%	0.44%	0.14%
CNM	D	0.36%	0.26%	0.26%
CNO	A	0.16%	0.48%	0.16%
CNX	A	0.06%	0.59%	0.06%
COKE	C	0.22%	0.29%	0.22%
COOP	B	0.41%	0.43%	0.41%
CORT	B	0.3%	0.3%	0.3%
CRS	A	0.09%	0.32%	0.09%
CRUS	D	0.11%	0.19%	0.11%
CSWI	A	0.08%	0.49%	0.08%
CUBI	B	0.09%	0.27%	0.09%
CUZ	B	0.08%	0.41%	0.08%
CVLT	B	0.08%	0.32%	0.08%
CW	B	0.23%	0.66%	0.23%
CWEN	C	0.15%	0.32%	0.15%
CXW	B	0.11%	0.41%	0.11%
DDS	B	0.31%	0.31%	0.31%
DEI	B	0.0%	0.33%	0.0%
DKS	C	0.38%	0.22%	0.22%
DTM	B	0.2%	0.8%	0.2%
DY	D	0.02%	0.36%	0.02%
DYN	F	0.02%	0.1%	0.02%
EHC	B	0.05%	0.58%	0.05%
ELAN	D	0.08%	0.2%	0.08%
ENSG	D	0.14%	0.5%	0.14%
ENVA	B	0.01%	0.42%	0.01%
ESAB	B	0.18%	0.52%	0.18%
EVR	B	0.81%	0.5%	0.5%
EXEL	B	0.24%	0.52%	0.24%
FIX	A	0.44%	0.31%	0.31%
FSS	B	0.02%	0.38%	0.02%
FYBR	D	0.13%	0.35%	0.13%
GAP	B	0.23%	0.19%	0.19%
GEF	A	0.01%	0.49%	0.01%
GEO	B	0.12%	0.46%	0.12%
GES	F	0.15%	0.21%	0.15%
GIII	D	0.02%	0.32%	0.02%
GKOS	B	0.07%	0.26%	0.07%
GMS	B	0.08%	0.42%	0.08%
GNW	A	0.0%	0.46%	0.0%
GPI	A	0.22%	0.38%	0.22%
GWRE	A	0.01%	0.45%	0.01%
HALO	F	0.24%	0.29%	0.24%
HCC	B	0.06%	0.25%	0.06%
HE	C	0.06%	0.13%	0.06%
HIMS	C	0.1%	0.25%	0.1%
HIW	D	0.18%	0.33%	0.18%
HNI	B	0.03%	0.42%	0.03%
HOV	D	0.1%	0.13%	0.1%
HRB	D	0.4%	0.34%	0.34%
HTZ	C	0.01%	0.18%	0.01%
IESC	B	0.03%	0.27%	0.03%
INSM	C	0.1%	0.13%	0.1%
INVA	D	0.09%	0.56%	0.09%
ITGR	B	0.05%	0.4%	0.05%
IVZ	B	0.1%	0.35%	0.1%
JANX	C	0.03%	0.15%	0.03%
JEF	A	0.4%	0.56%	0.4%
JXN	C	0.0%	0.35%	0.0%
KBR	F	0.12%	0.62%	0.12%
KFY	B	0.02%	0.43%	0.02%
KRC	C	0.12%	0.33%	0.12%
KSS	F	0.08%	0.19%	0.08%
LGND	B	0.09%	0.28%	0.09%
LMAT	A	0.02%	0.35%	0.02%
LPG	F	0.04%	0.19%	0.04%
LPX	B	0.41%	0.33%	0.33%
LRN	A	0.16%	0.46%	0.16%
LUMN	C	0.2%	0.23%	0.2%
M	D	0.19%	0.23%	0.19%
MAC	B	0.31%	0.31%	0.31%
MATX	C	0.21%	0.45%	0.21%
MCY	A	0.06%	0.4%	0.06%
MDU	D	0.04%	0.39%	0.04%
MEDP	D	0.38%	0.27%	0.27%
MLI	C	0.49%	0.47%	0.47%
MOD	A	0.25%	0.2%	0.2%
MOG.A	B	0.03%	0.41%	0.03%
MPW	F	0.06%	0.14%	0.06%
MTG	C	0.09%	0.46%	0.09%
MTSI	B	0.09%	0.37%	0.09%
NATL	B	0.04%	0.28%	0.04%
NAVI	C	0.19%	0.35%	0.19%
NFG	A	0.13%	0.56%	0.13%
NHI	D	0.04%	0.51%	0.04%
NSIT	F	0.06%	0.26%	0.06%
NTCT	C	0.11%	0.3%	0.11%
NTRA	B	0.4%	0.35%	0.35%
NXST	C	0.07%	0.32%	0.07%
ODP	F	0.11%	0.16%	0.11%
OMI	F	0.04%	0.16%	0.04%
ONTO	D	0.15%	0.16%	0.15%
ORI	A	0.41%	0.59%	0.41%
OVV	B	0.25%	0.39%	0.25%
PBF	D	0.02%	0.24%	0.02%
PBH	A	0.09%	0.5%	0.09%
PEB	D	0.01%	0.32%	0.01%
PHIN	A	0.09%	0.34%	0.09%
PI	D	0.14%	0.2%	0.14%
PIPR	B	0.34%	0.46%	0.34%
PK	B	0.05%	0.36%	0.05%
PLUS	F	0.07%	0.26%	0.07%
POWL	C	0.38%	0.26%	0.26%
PR	B	0.02%	0.4%	0.02%
PRDO	B	0.0%	0.31%	0.0%
PRGO	B	0.04%	0.29%	0.04%
PVH	C	0.17%	0.28%	0.17%
R	B	0.28%	0.45%	0.28%
RDN	C	0.06%	0.41%	0.06%
REVG	B	0.03%	0.21%	0.03%
RL	B	0.15%	0.39%	0.15%
RUSHA	C	0.06%	0.4%	0.06%
SAH	A	0.04%	0.29%	0.04%
SANM	B	0.22%	0.26%	0.22%
SATS	D	0.12%	0.17%	0.12%
SCS	C	0.08%	0.29%	0.08%
SF	B	0.17%	0.66%	0.17%
SFM	A	0.6%	0.45%	0.45%
SLG	B	0.49%	0.3%	0.3%
SLVM	B	0.02%	0.25%	0.02%
SM	B	0.07%	0.28%	0.07%
SOLV	C	0.31%	0.3%	0.3%
SPB	C	0.15%	0.36%	0.15%
STRL	B	0.29%	0.32%	0.29%
SWX	B	0.01%	0.46%	0.01%
TDS	B	0.04%	0.22%	0.04%
TGNA	B	0.09%	0.51%	0.09%
TMHC	B	0.09%	0.34%	0.09%
TPH	D	0.14%	0.31%	0.14%
TXRH	C	0.07%	0.53%	0.07%
UGI	A	0.1%	0.32%	0.1%
UNM	A	0.0%	0.78%	0.0%
UVV	B	0.06%	0.36%	0.06%
VECO	F	0.1%	0.19%	0.1%
VIR	D	0.08%	0.2%	0.08%
VIRT	B	0.03%	0.32%	0.03%
VITL	D	0.03%	0.19%	0.03%
VKTX	F	0.06%	0.12%	0.06%
VRNS	D	0.1%	0.29%	0.1%
VSH	D	0.09%	0.29%	0.09%
VSTO	A	0.14%	0.4%	0.14%
VSTS	C	0.02%	0.17%	0.02%
WGO	C	0.05%	0.33%	0.05%
WING	D	0.36%	0.27%	0.27%
WTTR	B	0.06%	0.36%	0.06%
XRX	F	0.18%	0.18%	0.18%

SMLF Overweight 640 Positions Relative to USVM

Symbol	Grade	Weight
APP	B	1.49%
EME	C	0.94%
MSTR	C	0.73%
DECK	A	0.72%
AXON	A	0.66%
NTNX	A	0.56%
JBL	B	0.55%
MANH	D	0.5%
RS	B	0.49%
NVT	B	0.49%
CVNA	B	0.46%
IDA	A	0.46%
IBKR	A	0.45%
DUOL	A	0.44%
COCO	B	0.43%
WSM	B	0.42%
PCOR	B	0.42%
CSL	C	0.41%
IOT	A	0.41%
VNO	B	0.41%
LBRDA	C	0.4%
GTLB	B	0.39%
EWBC	A	0.39%
UTHR	C	0.38%
BRX	A	0.37%
AM	A	0.37%
WFRD	D	0.35%
CR	A	0.35%
AYI	B	0.35%
CAVA	B	0.34%
WK	B	0.34%
LAMR	D	0.33%
JHG	A	0.31%
HSII	B	0.31%
WSO	A	0.31%
ITT	A	0.31%
FLEX	A	0.31%
FR	D	0.31%
THC	D	0.31%
TPR	B	0.3%
ALKS	B	0.3%
SPXC	A	0.3%
CHE	D	0.3%
GGG	B	0.3%
EXE	B	0.29%
TTEK	F	0.29%
PSTG	D	0.29%
PRI	A	0.28%
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%
HURN	B	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%
SKT	B	0.24%
IMKTA	C	0.24%
ZION	B	0.24%
ENTG	D	0.23%
LSCC	D	0.23%
AMG	B	0.23%
YOU	D	0.23%
UFPI	B	0.23%
EXLS	B	0.23%
APA	D	0.22%
RPM	A	0.22%
WS	B	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	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%
DNLI	D	0.2%
BBWI	D	0.2%
HAE	C	0.2%
WCC	B	0.2%
TPG	A	0.2%
TEX	D	0.19%
RNG	B	0.19%
SMG	D	0.19%
JOE	F	0.19%
CROX	D	0.19%
ACM	B	0.19%
GH	B	0.19%
MUR	D	0.19%
HAS	D	0.19%
RRC	B	0.19%
HLI	B	0.18%
PRGS	A	0.18%
KNSL	B	0.18%
TDOC	C	0.18%
NDSN	B	0.18%
VCYT	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%
ACLX	C	0.17%
TKR	D	0.17%
LNW	D	0.17%
BRC	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%
JBSS	D	0.17%
KIM	A	0.16%
IVT	B	0.16%
SRCE	B	0.16%
ALLE	D	0.16%
BL	B	0.16%
BMI	B	0.16%
BJ	A	0.16%
WTM	A	0.16%
SLM	A	0.16%
CVCO	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%
KFRC	D	0.16%
GATX	A	0.15%
LBTYA	A	0.15%
GNRC	B	0.15%
SBGI	B	0.15%
HOG	D	0.15%
ONON	A	0.15%
XNCR	B	0.15%
W	F	0.15%
VMI	B	0.15%
FTAI	B	0.15%
DOCS	C	0.15%
SKY	A	0.15%
ESI	A	0.15%
UMBF	B	0.14%
RGLD	C	0.14%
ATI	D	0.14%
IGT	F	0.14%
BANF	B	0.14%
MMSI	B	0.14%
NOVT	D	0.14%
IONS	F	0.14%
BRKR	D	0.14%
NJR	A	0.14%
UA	B	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%
BLKB	B	0.13%
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%
KAI	A	0.13%
BDN	C	0.13%
QLYS	C	0.13%
SFBS	B	0.13%
NUVL	D	0.13%
AA	B	0.13%
SR	A	0.12%
MAT	D	0.12%
INSP	D	0.12%
AWR	B	0.12%
SAIA	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%
WEN	D	0.12%
NOV	C	0.12%
AIT	A	0.12%
CBT	C	0.12%
BSY	D	0.12%
WAFD	B	0.12%
WTS	B	0.12%
FHI	A	0.11%
CYTK	F	0.11%
TXNM	A	0.11%
LAZ	B	0.11%
IBOC	A	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%
ACAD	D	0.11%
HTH	B	0.11%
CARG	C	0.11%
SPSC	C	0.11%
BAND	B	0.11%
CHX	C	0.11%
APOG	B	0.11%
MCB	B	0.11%
MDGL	B	0.11%
NSP	D	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%
PNFP	B	0.1%
CRDO	B	0.1%
CRC	A	0.1%
LSTR	D	0.1%
NNN	D	0.1%
HUN	F	0.1%
ICFI	F	0.1%
SYNA	C	0.1%
X	C	0.1%
ALX	D	0.1%
LYFT	C	0.1%
CMPR	D	0.1%
AGM	C	0.1%
WAL	B	0.1%
KLIC	B	0.1%
BERY	B	0.1%
WMS	D	0.1%
EEFT	B	0.09%
CXT	B	0.09%
WSC	D	0.09%
JACK	D	0.09%
MRC	B	0.09%
MTN	C	0.09%
PCVX	D	0.09%
HEES	B	0.09%
ATEN	B	0.09%
APG	B	0.09%
HI	C	0.09%
VERA	B	0.09%
LZ	D	0.09%
FLG	C	0.09%
IDCC	B	0.09%
PLNT	A	0.09%
EGP	F	0.09%
BC	C	0.09%
ALIT	C	0.09%
OHI	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%
SON	D	0.09%
EXPO	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%
FLR	B	0.08%
RGEN	D	0.08%
PEGA	A	0.08%
OZK	B	0.08%
MKSI	C	0.08%
OSCR	D	0.08%
FHB	A	0.08%
PD	C	0.08%
YETI	C	0.08%
KN	B	0.08%
MASI	A	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%
CARS	B	0.08%
MIDD	C	0.08%
BDC	B	0.08%
ALV	C	0.08%
CNMD	C	0.07%
AFRM	A	0.07%
UNIT	B	0.07%
EQC	B	0.07%
DH	D	0.07%
HASI	D	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%
AMPH	D	0.07%
LXP	D	0.07%
POR	C	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%
DOMO	C	0.07%
GCO	B	0.07%
ASH	D	0.07%
KNF	A	0.07%
SNEX	B	0.07%
NARI	C	0.07%
CEIX	A	0.07%
WNC	C	0.07%
NVST	B	0.06%
CC	C	0.06%
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%
TRN	B	0.06%
STWD	C	0.06%
CTBI	B	0.06%
BRBR	A	0.06%
ITCI	C	0.06%
FUN	C	0.06%
ASO	F	0.06%
LADR	B	0.06%
SOFI	A	0.06%
FLO	D	0.06%
CASY	A	0.06%
IRTC	D	0.06%
RYN	D	0.06%
ADEA	D	0.06%
SFL	D	0.06%
AIV	C	0.06%
APPF	B	0.06%
AZEK	A	0.06%
OTTR	C	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%
FFIN	B	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%
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%
SMTC	B	0.05%
ZIP	F	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%
MDXG	B	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%
DAWN	F	0.04%
CORZ	B	0.04%
PFSI	D	0.04%
KREF	D	0.04%
OUT	A	0.04%
DIN	C	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%
ANAB	F	0.04%
HELE	C	0.04%
RVMD	C	0.04%
KLG	C	0.04%
CELH	F	0.04%
AGYS	A	0.04%
ARRY	D	0.04%
ROKU	D	0.04%
BILL	A	0.04%
CFFN	B	0.04%
HLF	C	0.04%
ANGI	D	0.04%
IBP	D	0.04%
ACHC	F	0.04%
HSTM	B	0.04%
MMS	F	0.04%
FHN	A	0.04%
BCPC	B	0.04%
IOSP	B	0.04%
RCUS	F	0.04%
SWIM	C	0.03%
AXTA	A	0.03%
GMED	A	0.03%
ALHC	C	0.03%
VIAV	B	0.03%
ALRM	C	0.03%
RDFN	D	0.03%
ADT	C	0.03%
LTH	C	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%
CIEN	B	0.03%
QDEL	F	0.03%
SNBR	F	0.03%
RYI	C	0.03%
CHWY	B	0.03%
UDMY	F	0.03%
ARCH	B	0.03%
SLAB	D	0.03%
BRSP	B	0.03%
CDP	C	0.03%
MGNI	A	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%
CNS	B	0.03%
RLI	B	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%
OSIS	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%
BRY	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%
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%
EPR	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%
RLJ	B	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%
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%
JAMF	F	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%
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%
BKH	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%
ROIV	C	0.01%
TTGT	C	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%
CAKE	C	0.01%
STGW	B	0.01%
OLPX	D	0.01%
ENR	B	0.01%
BSIG	A	0.01%
RHP	B	0.01%
PYCR	C	0.01%
ASGN	F	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%
MC	B	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%
BOH	B	0.0%
TRMK	B	0.0%
PFBC	B	0.0%
CASH	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 108 Positions Relative to USVM

Symbol	Grade	Weight
INGR	B	-0.69%
CTRE	D	-0.6%
GVA	A	-0.59%
TAP	C	-0.56%
SBRA	C	-0.56%
PINC	B	-0.54%
POST	C	-0.54%
AKR	B	-0.53%
CALM	A	-0.52%
FFIV	B	-0.51%
AWI	A	-0.51%
GHC	C	-0.48%
SNDR	B	-0.48%
SNX	C	-0.45%
AVT	C	-0.45%
ACIW	B	-0.45%
SKYW	B	-0.45%
ESNT	D	-0.45%
GPOR	B	-0.44%
MUSA	A	-0.44%
H	B	-0.44%
GBX	A	-0.44%
PRIM	A	-0.43%
PLXS	B	-0.43%
PSN	D	-0.42%
VCTR	B	-0.42%
KEX	C	-0.42%
STC	B	-0.41%
SEB	F	-0.41%
ROAD	A	-0.4%
DVA	B	-0.4%
WT	B	-0.39%
WKC	D	-0.39%
BTU	B	-0.39%
QTWO	A	-0.37%
BIO	D	-0.37%
ESRT	C	-0.37%
CNK	B	-0.37%
UHS	D	-0.36%
PATK	D	-0.36%
AL	B	-0.36%
ENOV	C	-0.36%
BHF	B	-0.36%
TTMI	B	-0.36%
JLL	D	-0.35%
ADUS	D	-0.35%
RDNT	B	-0.34%
LNC	B	-0.34%
MOS	F	-0.33%
ALKT	B	-0.33%
REZI	A	-0.33%
AMWD	C	-0.33%
SEM	B	-0.32%
JBGS	D	-0.32%
UAA	C	-0.32%
ANDE	D	-0.32%
NMRK	B	-0.32%
ARI	C	-0.32%
AZZ	B	-0.31%
LZB	B	-0.31%
ATGE	B	-0.31%
IIPR	D	-0.31%
CRL	C	-0.31%
CIVI	D	-0.3%
INSW	F	-0.3%
ADTN	A	-0.3%
IAC	D	-0.29%
BHE	B	-0.28%
KBH	D	-0.28%
VTLE	C	-0.27%
GT	C	-0.27%
AZTA	D	-0.27%
VERX	B	-0.27%
GRBK	D	-0.27%
DXC	B	-0.27%
VYX	B	-0.26%
CLF	F	-0.26%
LEVI	F	-0.25%
MTH	D	-0.25%
MHO	D	-0.25%
COHR	B	-0.25%
MHK	D	-0.24%
BOOT	D	-0.24%
CRNX	C	-0.23%
CCS	D	-0.23%
JBLU	F	-0.22%
UCTT	D	-0.22%
LBPH	A	-0.22%
UFPT	B	-0.21%
MODG	F	-0.21%
MSGE	F	-0.21%
FTRE	D	-0.2%
COLL	F	-0.2%
USM	B	-0.2%
CLSK	C	-0.19%
PLAB	C	-0.19%
OGN	D	-0.18%
FORM	D	-0.17%
AMKR	D	-0.17%
SOUN	C	-0.17%
QRVO	F	-0.16%
RNA	D	-0.16%
AHCO	F	-0.15%
DFH	D	-0.15%
ZETA	D	-0.14%
NPAB	B	-0.13%
HUMA	F	-0.12%
MRVI	F	-0.08%