APUE vs. QDF ETF Comparison

Comparison of Trust for Professional Managers ActivePassive U.S. Equity ETF (APUE) to FlexShares Quality Dividend Index Fund (QDF)

APUE

Trust for Professional Managers ActivePassive U.S. Equity ETF

APUE Description

The fund is an actively-managed exchange-traded fund ("ETF") that blends active and passive investment strategies to optimize costs, tracking and potential return over the fund"s benchmark index, the CRSP U.S. Total Market Index. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies included in the benchmark index.

Grade (RS Rating)

Last Trade

$36.75

Average Daily Volume

85,016

Number of Holdings ^*

293

* may have additional holdings in another (foreign) market

QDF

FlexShares Quality Dividend Index Fund

QDF Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Quality Dividend IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index. The underlying index is designed to provide exposure to a high-quality, income-oriented portfolio of U.S. equity securities, with an emphasis on long-term capital growth and a targeted overall volatility similar to that of the Northern Trust 1250 IndexSM (the "Parent Index"). It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$72.76

Average Daily Volume

26,182

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

Performance

Period	APUE	QDF
30 Days	3.74%	1.66%
60 Days	4.87%	2.62%
90 Days	6.08%	4.00%
12 Months	33.10%	26.92%

58 Overlapping Holdings

Symbol	Grade	Weight in APUE	Weight in QDF	Overlap
AAPL	C	5.79%	8.54%	5.79%
ABBV	D	0.6%	2.58%	0.6%
ACN	C	0.58%	1.93%	0.58%
ADP	B	0.17%	1.11%	0.17%
AFL	B	0.41%	0.62%	0.41%
AVB	B	0.08%	0.58%	0.08%
AVGO	D	1.41%	0.88%	0.88%
BAC	A	0.49%	0.02%	0.02%
BK	A	0.37%	0.68%	0.37%
BR	A	0.29%	0.3%	0.29%
CAT	B	0.29%	0.75%	0.29%
CL	D	0.1%	0.15%	0.1%
COP	C	0.24%	0.04%	0.04%
COR	B	0.08%	0.14%	0.08%
COST	B	0.81%	0.24%	0.24%
CTAS	B	0.31%	0.39%	0.31%
DVN	F	0.06%	0.46%	0.06%
EQR	B	0.3%	0.55%	0.3%
EVRG	A	0.16%	0.42%	0.16%
GEN	B	0.05%	0.58%	0.05%
GILD	C	0.16%	1.0%	0.16%
GOOG	C	1.63%	1.63%	1.63%
GOOGL	C	1.98%	1.84%	1.84%
HD	A	0.59%	1.77%	0.59%
HST	C	0.0%	0.41%	0.0%
INTU	C	0.49%	1.74%	0.49%
JNJ	D	0.89%	3.01%	0.89%
JPM	A	1.5%	0.75%	0.75%
KLAC	D	0.19%	0.76%	0.19%
KO	D	0.42%	2.16%	0.42%
LMT	D	0.15%	0.62%	0.15%
LOW	D	0.35%	1.27%	0.35%
LRCX	F	0.2%	0.87%	0.2%
MA	C	0.59%	0.26%	0.26%
META	D	2.28%	3.1%	2.28%
MO	A	0.47%	0.89%	0.47%
MPC	D	0.13%	0.54%	0.13%
MRK	F	0.35%	0.45%	0.35%
MS	A	0.23%	0.98%	0.23%
MSFT	F	5.41%	4.91%	4.91%
NTAP	C	0.05%	0.22%	0.05%
NUE	C	0.04%	0.42%	0.04%
NVDA	C	5.97%	5.81%	5.81%
PEG	A	0.14%	0.61%	0.14%
PFG	D	0.04%	0.39%	0.04%
PG	A	0.99%	3.03%	0.99%
PM	B	0.25%	1.41%	0.25%
QCOM	F	0.48%	1.68%	0.48%
SNA	A	0.27%	0.56%	0.27%
SWKS	F	0.1%	0.4%	0.1%
TT	A	0.17%	0.43%	0.17%
UNP	C	0.38%	1.24%	0.38%
V	A	0.64%	0.4%	0.4%
VLO	C	0.06%	0.55%	0.06%
WMT	A	0.93%	0.13%	0.13%
WY	D	0.14%	0.42%	0.14%
XOM	B	0.99%	0.5%	0.5%
ZTS	D	0.09%	0.74%	0.09%

APUE Overweight 235 Positions Relative to QDF

Symbol	Grade	Weight
DFAS	A	4.83%
AMZN	C	3.5%
BRK.A	B	1.84%
TSLA	B	1.68%
LLY	F	1.16%
UNH	C	1.04%
NFLX	A	0.74%
CRM	B	0.62%
WFC	A	0.62%
NOW	A	0.47%
ADBE	C	0.47%
GE	D	0.47%
SPG	B	0.46%
AMD	F	0.45%
DIS	B	0.44%
T	A	0.43%
ISRG	A	0.43%
APH	A	0.43%
ORCL	B	0.42%
IBM	C	0.42%
AER	B	0.42%
TMUS	B	0.41%
DUK	C	0.4%
ETN	A	0.39%
AXP	A	0.39%
AMAT	F	0.39%
DHR	F	0.39%
VZ	C	0.38%
CSCO	B	0.38%
C	A	0.38%
AWI	A	0.38%
SYK	C	0.38%
CHDN	B	0.38%
MUSA	A	0.37%
WTM	A	0.37%
PH	A	0.33%
MDT	D	0.33%
FI	A	0.33%
LIN	D	0.33%
TJX	A	0.32%
GS	A	0.32%
PEP	F	0.32%
ENTG	D	0.31%
DECK	A	0.31%
CVX	A	0.31%
PCAR	B	0.31%
HCA	F	0.31%
HON	B	0.3%
COF	B	0.3%
BLK	C	0.3%
ETR	B	0.3%
PHM	D	0.29%
TXN	C	0.29%
TMO	F	0.29%
ADI	D	0.29%
UBER	D	0.29%
MDLZ	F	0.28%
BSX	B	0.28%
POST	C	0.27%
LANC	C	0.27%
GWW	B	0.27%
AXTA	A	0.27%
CMCSA	B	0.27%
SHW	A	0.27%
PGR	A	0.26%
ZBRA	B	0.26%
URI	B	0.26%
SPGI	C	0.26%
WAT	B	0.26%
VICI	C	0.25%
ABT	B	0.25%
THG	A	0.25%
BX	A	0.25%
L	A	0.25%
LW	C	0.25%
PFE	D	0.25%
MAS	D	0.24%
ANET	C	0.24%
MCD	D	0.23%
JKHY	D	0.23%
NEU	C	0.23%
CACC	D	0.23%
CWST	A	0.22%
GM	B	0.22%
AEP	D	0.22%
AMT	D	0.22%
QLYS	C	0.22%
DHI	D	0.22%
SO	D	0.22%
VRTX	F	0.21%
KKR	A	0.21%
RTX	C	0.21%
LEN	D	0.2%
DASH	A	0.2%
NEE	D	0.2%
PPL	B	0.19%
TTC	D	0.19%
ESI	A	0.19%
WAB	B	0.18%
FR	C	0.18%
PLD	D	0.18%
FDX	B	0.18%
BMY	B	0.18%
AMGN	D	0.18%
NI	A	0.18%
REGN	F	0.18%
ROP	B	0.17%
CBOE	B	0.17%
PANW	C	0.17%
CCL	B	0.16%
IRM	D	0.16%
IP	B	0.16%
HWM	A	0.16%
GDDY	A	0.16%
FCX	D	0.16%
TGT	F	0.16%
MU	D	0.16%
PYPL	B	0.15%
ESS	B	0.15%
REYN	D	0.15%
ED	D	0.15%
ICE	C	0.15%
GRMN	B	0.15%
TXT	D	0.15%
TREX	C	0.15%
CARR	D	0.15%
DE	A	0.15%
COIN	C	0.15%
LEN	D	0.15%
UNF	B	0.14%
DOV	A	0.14%
FOX	A	0.14%
MTN	C	0.14%
AIG	B	0.14%
GEV	B	0.14%
DGX	A	0.13%
FOXA	B	0.13%
EMR	A	0.13%
BALL	D	0.13%
WELL	A	0.13%
ZBH	C	0.13%
BRKR	D	0.13%
KMB	D	0.13%
FNF	B	0.13%
CRWD	B	0.13%
ECL	D	0.12%
PCG	A	0.12%
HIG	B	0.12%
CMG	B	0.12%
HOLX	D	0.12%
ABNB	C	0.11%
CEG	D	0.11%
PLTR	B	0.11%
PWR	A	0.11%
CPRT	A	0.11%
EOG	A	0.11%
MCK	B	0.11%
SYF	B	0.11%
STLD	B	0.11%
CMI	A	0.11%
CAH	B	0.1%
UPS	C	0.1%
SNPS	B	0.1%
AEE	A	0.1%
DD	D	0.1%
CNNE	B	0.09%
A	D	0.09%
EFX	F	0.09%
APD	A	0.09%
STT	A	0.09%
CABO	C	0.09%
KR	B	0.09%
RCL	A	0.08%
DLR	B	0.08%
DRI	B	0.08%
ALL	A	0.08%
CCI	D	0.08%
AON	A	0.08%
ROK	B	0.08%
KVUE	A	0.07%
CRBG	B	0.07%
TW	A	0.07%
LNG	B	0.07%
PKG	A	0.07%
MKL	A	0.07%
CBRE	B	0.07%
NEM	D	0.07%
ARE	D	0.07%
BEN	C	0.07%
CTSH	B	0.07%
KHC	F	0.07%
EXR	D	0.07%
CB	C	0.06%
ROST	C	0.06%
BA	F	0.06%
APO	B	0.06%
CTVA	C	0.06%
NDAQ	A	0.06%
RBLX	C	0.06%
GD	F	0.06%
ACGL	D	0.06%
MPWR	F	0.06%
CSGP	D	0.06%
SQ	B	0.06%
DAL	C	0.05%
DELL	C	0.05%
CVNA	B	0.05%
CVS	D	0.05%
RSG	A	0.05%
GPN	B	0.05%
CI	F	0.05%
SLB	C	0.05%
IBKR	A	0.05%
IR	B	0.05%
PSX	C	0.05%
EW	C	0.05%
NWS	B	0.05%
FSLR	F	0.04%
EG	C	0.04%
CTRA	B	0.04%
ELV	F	0.04%
HUBB	B	0.04%
MNST	C	0.04%
J	F	0.04%
VLTO	D	0.03%
ADM	D	0.03%
CNC	D	0.03%
UAL	A	0.03%
MSTR	C	0.03%
DTE	C	0.02%
SMCI	F	0.02%
RKT	F	0.02%
DLTR	F	0.02%
WPC	D	0.02%
GIS	D	0.01%

APUE Underweight 69 Positions Relative to QDF

Symbol	Grade	Weight
VRT	B	-0.83%
NKE	D	-0.83%
SBUX	A	-0.76%
ITW	B	-0.74%
FAST	B	-0.68%
MMM	D	-0.65%
PAYX	C	-0.63%
FIS	C	-0.62%
PRU	A	-0.61%
VIRT	B	-0.6%
KTB	B	-0.6%
JHG	A	-0.6%
PSA	D	-0.6%
D	C	-0.59%
EBAY	D	-0.58%
EA	A	-0.58%
CMA	A	-0.58%
TPR	B	-0.57%
MET	A	-0.56%
WTW	B	-0.56%
ORI	A	-0.55%
CHRW	C	-0.55%
MAA	B	-0.55%
NXPI	D	-0.52%
OMF	A	-0.52%
OHI	C	-0.52%
CPT	B	-0.51%
IVZ	B	-0.51%
OGE	B	-0.51%
SMG	D	-0.5%
RDN	C	-0.49%
STWD	C	-0.49%
UGI	A	-0.49%
NSA	D	-0.49%
BPOP	B	-0.48%
WDFC	B	-0.47%
FAF	A	-0.47%
IPG	D	-0.45%
MCHP	D	-0.45%
WU	D	-0.45%
POOL	C	-0.44%
WSM	B	-0.43%
CFR	B	-0.42%
LNC	B	-0.39%
RHI	B	-0.38%
ALLY	C	-0.37%
CUBE	D	-0.37%
SCCO	F	-0.36%
WMS	D	-0.36%
APLE	B	-0.35%
EIX	B	-0.34%
IRDM	D	-0.31%
NEP	F	-0.3%
OLN	D	-0.25%
NNN	D	-0.23%
WING	D	-0.2%
HRB	D	-0.17%
RMD	C	-0.17%
DPZ	C	-0.17%
PNW	B	-0.16%
PAYC	B	-0.16%
BSY	D	-0.13%
EXP	A	-0.08%
WFRD	D	-0.07%
CSWI	A	-0.07%
BKNG	A	-0.07%
MAR	B	-0.05%
STNG	F	-0.02%
BBWI	D	-0.01%