DFND vs. LKOR ETF Comparison

Comparison of Realty Shares DIVCON Dividend Defender ETF (DFND) to FlexShares Credit-Scored US Long Corporate Bond Index Fund (LKOR)

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$39.46

Average Daily Volume

764

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LKOR

FlexShares Credit-Scored US Long Corporate Bond Index Fund

LKOR Description

Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund is an exchange traded fund launched by Northern Trust Corporation. It is managed by Northern Trust Investments, Incorporated. The fund invests in fixed income markets of the United States. It invests in US-dollar denominated investment grade bonds of companies rated BBB or higher by S&P or Fitch or Baa3 or higher by Moody's and with maturities greater than or equal to ten years. The fund seeks to track the performance of the Northern Trust Credit-Scored US Long Corporate Bond Index, by employing representative sampling methodology. Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund was formed on September 23, 2015 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$42.55

Average Daily Volume

6,553

Number of Holdings ^*

164

* may have additional holdings in another (foreign) market

Performance

Period	DFND	LKOR
30 Days	-0.71%	2.31%
60 Days	-5.95%	-0.39%
90 Days	-2.05%	-0.72%
12 Months	14.44%	3.58%

27 Overlapping Holdings

Symbol	Grade	Weight in DFND	Weight in LKOR	Overlap
AAPL	B	1.21%	0.17%	0.17%
AFL	A	1.34%	0.12%	0.12%
AVGO	B	1.29%	0.2%	0.2%
CSX	D	1.21%	0.12%	0.12%
D	B	0.8%	0.23%	0.23%
DG	D	1.15%	0.11%	0.11%
DHR	B	1.11%	0.1%	0.1%
EA	B	0.8%	0.09%	0.09%
GS	B	1.03%	0.21%	0.21%
GWW	D	1.21%	0.24%	0.24%
HAL	F	0.8%	0.14%	0.14%
HD	F	0.98%	0.19%	0.19%
HPQ	A	1.21%	0.24%	0.24%
KLAC	A	1.13%	0.2%	0.2%
LHX	B	1.76%	0.05%	0.05%
LOW	F	1.12%	0.25%	0.25%
MA	D	1.21%	0.22%	0.22%
MCK	B	1.59%	0.23%	0.23%
MCO	B	1.26%	0.12%	0.12%
MS	B	1.06%	0.14%	0.14%
MSFT	A	1.26%	0.1%	0.1%
PGR	D	0.8%	0.23%	0.23%
SHW	D	0.84%	0.21%	0.21%
SPGI	C	1.34%	0.16%	0.16%
TXN	B	1.51%	0.23%	0.23%
V	C	1.25%	0.4%	0.4%
ZTS	C	1.4%	0.19%	0.19%

DFND Overweight 55 Positions Relative to LKOR

Symbol	Grade	Weight
NDSN	F	1.86%
JBHT	F	1.67%
NUE	F	1.65%
EOG	D	1.6%
BRO	B	1.52%
WST	F	1.49%
HSY	C	1.44%
BBY	D	1.44%
LRCX	B	1.35%
TSCO	A	1.32%
APH	B	1.3%
BAX	F	1.28%
DFS	D	1.24%
WCN	D	1.2%
SSNC	C	1.2%
SWKS	F	1.17%
FDS	D	1.16%
CL	B	1.15%
ODFL	F	1.14%
DHI	D	1.14%
TGT	D	1.13%
ALLY	C	1.13%
POOL	F	1.11%
ABT	F	1.11%
PH	D	1.1%
CDW	D	1.1%
A	C	1.09%
ADI	B	1.08%
CE	D	1.08%
DPZ	C	1.08%
QCOM	B	1.07%
TMO	C	1.07%
AMAT	A	1.03%
WSM	D	1.03%
BEN	F	1.03%
NKE	F	0.99%
UI	C	0.97%
AVY	B	0.97%
EXPD	B	0.96%
MPWR	B	0.93%
TROW	C	0.86%
TER	A	0.84%
INTU	C	0.84%
MSCI	F	0.8%
VTRS	F	0.8%
F	D	0.8%
MGM	F	0.8%
HES	D	0.8%
GE	A	0.8%
SLB	F	0.8%
KHC	D	0.8%
BKR	F	0.8%
DTE	B	0.8%
CNP	B	0.8%
OXY	D	0.8%

DFND Underweight 137 Positions Relative to LKOR

Symbol	Grade	Weight
PM	A	-0.7%
SCCO	C	-0.64%
ACGL	A	-0.55%
DUK	B	-0.5%
HSBC	B	-0.48%
LNT	C	-0.4%
FITB	C	-0.39%
KOF	C	-0.37%
INTC	F	-0.37%
BA	D	-0.37%
HPE	B	-0.37%
NI	C	-0.37%
CVS	F	-0.36%
GILD	F	-0.35%
ABBV	F	-0.33%
DOW	B	-0.32%
CAH	F	-0.31%
CP	F	-0.29%
NNN	C	-0.29%
ED	C	-0.29%
AEP	C	-0.28%
RF	D	-0.28%
TEL	A	-0.28%
AMT	C	-0.27%
KMB	C	-0.26%
JEF	B	-0.26%
MMM	C	-0.26%
NOC	D	-0.26%
CHTR	D	-0.26%
HON	B	-0.25%
ORCL	B	-0.25%
WFC	C	-0.25%
CAG	C	-0.24%
AEE	D	-0.24%
NEM	C	-0.24%
WEC	D	-0.24%
CMS	B	-0.24%
MMC	B	-0.24%
BHP	C	-0.24%
CMCSA	F	-0.24%
HCA	C	-0.24%
DOV	B	-0.24%
KDP	B	-0.24%
MKL	B	-0.24%
OKE	B	-0.24%
LMT	B	-0.24%
FOXA	B	-0.24%
LH	F	-0.23%
LYB	D	-0.23%
IBM	D	-0.23%
AIG	B	-0.23%
WRB	D	-0.23%
ATO	F	-0.23%
BDX	F	-0.23%
SBUX	D	-0.23%
AMGN	C	-0.23%
CSCO	F	-0.23%
BAC	A	-0.23%
EXC	D	-0.22%
MRO	D	-0.22%
VMI	C	-0.22%
EL	F	-0.21%
NVDA	A	-0.21%
SRE	B	-0.21%
EIX	B	-0.21%
C	B	-0.21%
EG	C	-0.2%
HIG	B	-0.2%
PAA	D	-0.2%
MO	B	-0.2%
STZ	F	-0.19%
NDAQ	C	-0.19%
KO	B	-0.19%
CCI	D	-0.19%
KMI	B	-0.19%
LEA	F	-0.18%
EBAY	B	-0.18%
CPB	C	-0.18%
AIZ	D	-0.18%
ARE	C	-0.18%
AMZN	C	-0.18%
EPD	C	-0.18%
VZ	D	-0.18%
REGN	B	-0.17%
UNP	F	-0.16%
UNH	C	-0.16%
MET	C	-0.14%
JCI	B	-0.13%
APTV	C	-0.13%
EFX	C	-0.13%
HAS	B	-0.13%
AON	F	-0.13%
GM	C	-0.13%
XOM	D	-0.12%
TT	B	-0.12%
WELL	A	-0.12%
IFF	C	-0.12%
VTR	C	-0.12%
GOOGL	A	-0.12%
EMR	B	-0.12%
IPG	D	-0.12%
NSC	F	-0.12%
JNJ	F	-0.12%
MCD	F	-0.12%
PRU	B	-0.11%
BWA	C	-0.11%
MLM	D	-0.11%
CHD	C	-0.11%
REG	D	-0.11%
RJF	C	-0.11%
OC	B	-0.11%
TCN	A	-0.11%
MAS	D	-0.11%
FMC	C	-0.11%
SO	B	-0.11%
BABA	C	-0.11%
OTIS	C	-0.1%
VRSK	B	-0.1%
KIM	D	-0.1%
SJM	F	-0.1%
WBA	F	-0.1%
ELV	C	-0.1%
RPM	C	-0.1%
BHF	F	-0.1%
WTW	D	-0.1%
GLW	B	-0.1%
MDLZ	D	-0.09%
BIIB	D	-0.09%
RPRX	F	-0.09%
PCG	B	-0.09%
JPM	B	-0.09%
T	B	-0.09%
HUM	D	-0.07%
ITW	F	-0.06%
SIGI	F	-0.06%
FTV	F	-0.05%
ALL	D	-0.04%