FAZ vs. QDF ETF Comparison

Comparison of Direxion Financial Bear 3X Shares (FAZ) to FlexShares Quality Dividend Index Fund (QDF)

FAZ

Direxion Financial Bear 3X Shares

FAZ Description

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 1000Â® Financial Services Index. The fund, under normal circumstances, creates short positions by investing at least 80% of its assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large cap U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$7.98

Average Daily Volume

6,016,314

Number of Holdings ^*

* 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

$71.36

Average Daily Volume

47,021

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

Performance

Period	FAZ	QDF
30 Days	-1.66%	2.35%
60 Days	-11.75%	5.23%
90 Days	-23.95%	7.81%
12 Months	-56.95%	30.55%

22 Overlapping Holdings

Symbol	Grade	Weight in FAZ	Weight in QDF	Overlap
AFL	A	0.62%	0.61%	0.61%
ALLY	F	0.19%	0.35%	0.19%
AVB	C	0.48%	0.58%	0.48%
BAC	D	4.53%	0.02%	0.02%
BK	B	0.61%	0.62%	0.61%
BR	C	0.24%	0.28%	0.24%
EQR	C	0.48%	0.56%	0.48%
FIS	C	1.44%	0.59%	0.59%
HST	D	0.2%	0.44%	0.2%
JPM	D	6.91%	0.65%	0.65%
LNC	C	0.19%	0.35%	0.19%
MA	B	4.6%	0.25%	0.25%
MAA	C	0.24%	0.57%	0.24%
MET	B	0.66%	0.54%	0.54%
MS	B	1.07%	0.76%	0.76%
PFG	B	0.25%	0.39%	0.25%
PRU	C	0.63%	0.58%	0.58%
PSA	C	0.52%	0.65%	0.52%
V	C	5.62%	0.35%	0.35%
WTW	B	0.42%	0.52%	0.42%
WU	C	0.19%	0.5%	0.19%
WY	C	0.37%	0.46%	0.37%

FAZ Overweight 75 Positions Relative to QDF

Symbol	Grade	Weight
BRK.A	C	7.22%
WFC	D	3.0%
C	C	2.84%
PYPL	B	2.19%
AMT	C	1.64%
AXP	B	1.41%
USB	C	1.27%
GS	B	1.27%
TFC	D	1.21%
CME	B	1.18%
SPGI	C	1.17%
CB	B	1.11%
PNC	C	1.08%
BLK	B	1.01%
CCI	C	0.96%
PLD	C	0.95%
GPN	D	0.95%
MMC	C	0.93%
SCHW	D	0.89%
ICE	C	0.85%
EQIX	B	0.8%
AON	B	0.79%
COF	B	0.78%
AIG	D	0.74%
SPG	B	0.73%
PGR	C	0.71%
MCO	C	0.68%
ALL	C	0.61%
TRV	C	0.58%
WELL	C	0.56%
STT	B	0.48%
TROW	C	0.48%
SBAC	C	0.45%
DFS	C	0.42%
DLR	B	0.41%
O	B	0.4%
SQ	D	0.38%
MSCI	C	0.37%
SYF	C	0.37%
AMP	B	0.35%
VTR	C	0.35%
HIG	B	0.35%
NTRS	C	0.34%
MTB	C	0.34%
BXP	C	0.34%
ESS	C	0.33%
CBRE	B	0.33%
FITB	B	0.33%
KEY	C	0.31%
ARE	C	0.3%
EFX	C	0.3%
ACGL	B	0.28%
TRU	B	0.28%
CFG	D	0.28%
AJG	D	0.28%
INVH	D	0.26%
CINF	C	0.26%
MKL	C	0.26%
RF	B	0.25%
HBAN	B	0.24%
SUI	C	0.23%
WPC	C	0.23%
L	D	0.22%
UDR	C	0.22%
MKTX	D	0.22%
NLY	B	0.22%
EXR	C	0.22%
ELS	D	0.2%
FNF	B	0.2%
NDAQ	C	0.2%
FICO	B	0.19%
VNO	B	0.19%
RJF	C	0.19%
MPW	C	0.18%
JKHY	B	0.18%

FAZ Underweight 103 Positions Relative to QDF

Symbol	Grade	Weight
AAPL	C	-8.55%
MSFT	C	-5.1%
NVDA	C	-5.03%
JNJ	C	-3.18%
META	B	-3.16%
PG	C	-3.09%
ABBV	B	-3.01%
KO	B	-2.51%
ACN	C	-1.86%
HD	B	-1.73%
GOOGL	D	-1.71%
QCOM	D	-1.71%
INTU	D	-1.64%
GOOG	D	-1.51%
UNP	D	-1.33%
PM	C	-1.3%
LOW	B	-1.25%
ADP	C	-1.04%
LRCX	D	-0.98%
NKE	D	-0.98%
GILD	B	-0.95%
KLAC	D	-0.95%
AVGO	C	-0.93%
ZTS	B	-0.81%
MO	C	-0.81%
CAT	B	-0.76%
ITW	B	-0.71%
SBUX	C	-0.71%
MMM	B	-0.69%
LMT	A	-0.67%
VRT	C	-0.66%
EBAY	B	-0.62%
FAST	C	-0.6%
PAYX	C	-0.6%
PEG	B	-0.6%
D	C	-0.58%
NSA	C	-0.56%
OHI	C	-0.55%
SMG	B	-0.55%
MPC	F	-0.55%
NXPI	D	-0.55%
MCHP	D	-0.54%
CPT	C	-0.54%
CHRW	B	-0.54%
STWD	B	-0.53%
MRK	F	-0.53%
IVZ	B	-0.52%
VIRT	C	-0.52%
KTB	B	-0.52%
JHG	B	-0.52%
NEP	C	-0.51%
IPG	C	-0.51%
ORI	B	-0.51%
VLO	F	-0.51%
CMA	C	-0.51%
UGI	B	-0.5%
RDN	D	-0.5%
EA	D	-0.5%
BPOP	C	-0.5%
XOM	D	-0.49%
DVN	F	-0.49%
WSM	C	-0.49%
OGE	B	-0.49%
FAF	B	-0.47%
SWKS	F	-0.47%
TPR	A	-0.46%
POOL	C	-0.46%
SNA	B	-0.45%
WDFC	C	-0.43%
NUE	D	-0.43%
OMF	D	-0.43%
WMS	D	-0.42%
EVRG	B	-0.41%
TT	B	-0.41%
CUBE	C	-0.41%
SCCO	C	-0.4%
CTAS	C	-0.37%
EIX	B	-0.35%
APLE	C	-0.35%
RHI	D	-0.35%
CFR	C	-0.34%
IRDM	C	-0.32%
OLN	D	-0.28%
WING	C	-0.26%
NNN	B	-0.26%
COST	C	-0.24%
NTAP	D	-0.23%
HRB	C	-0.18%
RMD	C	-0.18%
DPZ	D	-0.17%
CL	C	-0.17%
PNW	C	-0.15%
BSY	C	-0.14%
PAYC	D	-0.13%
WMT	B	-0.12%
EXP	B	-0.08%
WFRD	F	-0.07%
CSWI	B	-0.06%
BKNG	B	-0.06%
MAR	B	-0.04%
COP	F	-0.04%
STNG	D	-0.02%
BBWI	D	-0.01%