FDLO vs. QDF ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to FlexShares Quality Dividend Index Fund (QDF)

FDLO

Fidelity Low Volatility Factor ETF

FDLO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Low Volatility Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Low Volatility Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$61.98

Average Daily Volume

74,193

Number of Holdings ^*

125

* 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	FDLO	QDF
30 Days	0.81%	1.66%
60 Days	1.49%	2.62%
90 Days	4.05%	4.00%
12 Months	21.68%	26.92%

31 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in QDF	Overlap
AAPL	C	7.26%	8.54%	7.26%
ABBV	D	0.98%	2.58%	0.98%
ACN	C	1.6%	1.93%	1.6%
ADP	B	0.66%	1.11%	0.66%
CL	D	0.35%	0.15%	0.15%
COP	C	0.41%	0.04%	0.04%
EA	A	0.72%	0.58%	0.58%
EQR	B	0.18%	0.55%	0.18%
FAST	B	0.54%	0.68%	0.54%
GOOGL	C	4.12%	1.84%	1.84%
HD	A	1.19%	1.77%	1.19%
ITW	B	0.56%	0.74%	0.56%
JNJ	D	1.18%	3.01%	1.18%
JPM	A	1.89%	0.75%	0.75%
KO	D	0.66%	2.16%	0.66%
LMT	D	0.58%	0.62%	0.58%
LOW	D	0.71%	1.27%	0.71%
MA	C	1.34%	0.26%	0.26%
MAA	B	0.18%	0.55%	0.18%
MRK	F	0.88%	0.45%	0.45%
MSFT	F	6.93%	4.91%	4.91%
NKE	D	0.56%	0.83%	0.56%
PAYX	C	0.51%	0.63%	0.51%
PG	A	0.99%	3.03%	0.99%
PM	B	0.62%	1.41%	0.62%
PSA	D	0.25%	0.6%	0.25%
SBUX	A	0.7%	0.76%	0.7%
UNP	C	0.63%	1.24%	0.63%
V	A	1.47%	0.4%	0.4%
WMT	A	0.95%	0.13%	0.13%
XOM	B	1.17%	0.5%	0.5%

FDLO Overweight 94 Positions Relative to QDF

Symbol	Grade	Weight
AMZN	C	3.92%
BRK.A	B	2.13%
ORCL	B	2.01%
CSCO	B	1.77%
LLY	F	1.57%
UNH	C	1.55%
IBM	C	1.54%
MSI	B	1.49%
TXN	C	1.48%
ROP	B	1.21%
TYL	B	1.19%
VRSN	F	1.08%
DOX	D	1.08%
AKAM	D	1.03%
T	A	0.99%
TMUS	B	0.97%
CMCSA	B	0.95%
VZ	C	0.93%
ABT	B	0.9%
PGR	A	0.84%
MCD	D	0.8%
TMO	F	0.78%
CB	C	0.72%
ETN	A	0.72%
AMGN	D	0.71%
HON	B	0.7%
VRTX	F	0.69%
CVX	A	0.69%
TRV	B	0.69%
CME	A	0.69%
MMC	B	0.67%
TJX	A	0.65%
PEP	F	0.62%
AJG	B	0.61%
AIZ	A	0.61%
BDX	F	0.6%
FDS	B	0.59%
WRB	A	0.56%
WM	A	0.55%
CBOE	B	0.55%
LIN	D	0.53%
ORLY	B	0.53%
JKHY	D	0.51%
GRMN	B	0.51%
REGN	F	0.5%
NOC	D	0.5%
GD	F	0.49%
LHX	C	0.49%
OTIS	C	0.47%
AZO	C	0.47%
RSG	A	0.47%
TSCO	D	0.46%
ERIE	D	0.45%
BAH	F	0.43%
J	F	0.39%
SO	D	0.37%
MDLZ	F	0.37%
DUK	C	0.35%
WMB	A	0.34%
FCN	D	0.34%
EOG	A	0.32%
EQIX	A	0.31%
XEL	A	0.3%
SHW	A	0.3%
KMB	D	0.3%
KMI	A	0.3%
HII	D	0.29%
AMT	D	0.29%
GIS	D	0.28%
LNG	B	0.28%
AEP	D	0.28%
WEC	A	0.27%
APD	A	0.27%
AEE	A	0.26%
DLR	B	0.26%
ED	D	0.25%
CMS	C	0.24%
HSY	F	0.24%
ECL	D	0.24%
DTM	B	0.23%
O	D	0.22%
CCI	D	0.21%
VMC	B	0.2%
CTVA	C	0.2%
PKG	A	0.19%
MLM	B	0.19%
CTRA	B	0.19%
CSGP	D	0.18%
ADC	B	0.16%
AMH	D	0.16%
ELS	C	0.16%
ATR	B	0.16%
AMCR	D	0.15%
AVY	D	0.14%

FDLO Underweight 96 Positions Relative to QDF

Symbol	Grade	Weight
NVDA	C	-5.81%
META	D	-3.1%
INTU	C	-1.74%
QCOM	F	-1.68%
GOOG	C	-1.63%
GILD	C	-1.0%
MS	A	-0.98%
MO	A	-0.89%
AVGO	D	-0.88%
LRCX	F	-0.87%
VRT	B	-0.83%
KLAC	D	-0.76%
CAT	B	-0.75%
ZTS	D	-0.74%
BK	A	-0.68%
MMM	D	-0.65%
FIS	C	-0.62%
AFL	B	-0.62%
PEG	A	-0.61%
PRU	A	-0.61%
VIRT	B	-0.6%
KTB	B	-0.6%
JHG	A	-0.6%
D	C	-0.59%
AVB	B	-0.58%
EBAY	D	-0.58%
CMA	A	-0.58%
GEN	B	-0.58%
TPR	B	-0.57%
MET	A	-0.56%
SNA	A	-0.56%
WTW	B	-0.56%
ORI	A	-0.55%
CHRW	C	-0.55%
VLO	C	-0.55%
MPC	D	-0.54%
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%
DVN	F	-0.46%
IPG	D	-0.45%
MCHP	D	-0.45%
WU	D	-0.45%
POOL	C	-0.44%
WSM	B	-0.43%
TT	A	-0.43%
CFR	B	-0.42%
NUE	C	-0.42%
EVRG	A	-0.42%
WY	D	-0.42%
HST	C	-0.41%
SWKS	F	-0.4%
CTAS	B	-0.39%
LNC	B	-0.39%
PFG	D	-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%
BR	A	-0.3%
OLN	D	-0.25%
COST	B	-0.24%
NNN	D	-0.23%
NTAP	C	-0.22%
WING	D	-0.2%
HRB	D	-0.17%
RMD	C	-0.17%
DPZ	C	-0.17%
PNW	B	-0.16%
PAYC	B	-0.16%
COR	B	-0.14%
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%
BAC	A	-0.02%
BBWI	D	-0.01%