FLQL vs. USMV ETF Comparison

Comparison of Franklin LibertyQ U.S. Equity ETF (FLQL) to iShares MSCI USA Minimum Volatility ETF (USMV)

FLQL

Franklin LibertyQ U.S. Equity ETF

FLQL Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the LibertyQ U.S. Large Cap Equity Index (the U.S. Large Cap underlying index). Under normal market conditions, the fund invests at least 80% of its assets in the component securities of the U.S. Large Cap underlying index. The U.S. Large Cap underlying index is based on the Russell 1000® Index using a methodology developed with Franklin Templeton to reflect Franklin Templeton's desired investment strategy.

Grade (RS Rating)

Last Trade

$59.85

Average Daily Volume

76,630

Number of Holdings ^*

210

* may have additional holdings in another (foreign) market

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	FLQL	USMV
30 Days	2.44%	1.70%
60 Days	3.55%	2.42%
90 Days	4.50%	4.02%
12 Months	31.26%	25.63%

56 Overlapping Holdings

Symbol	Grade	Weight in FLQL	Weight in USMV	Overlap
AAPL	C	7.0%	0.99%	0.99%
ABBV	D	1.33%	1.04%	1.04%
ACGL	D	0.26%	0.68%	0.26%
ADI	D	0.32%	0.23%	0.23%
AMGN	D	1.05%	0.59%	0.59%
AMZN	C	2.92%	0.14%	0.14%
ANET	C	0.77%	0.29%	0.29%
APH	A	0.6%	1.44%	0.6%
AVGO	D	1.77%	1.19%	1.19%
BRK.A	B	1.11%	1.55%	1.11%
CB	C	0.56%	1.47%	0.56%
CI	F	0.56%	0.21%	0.21%
CL	D	0.52%	0.41%	0.41%
CTSH	B	0.24%	0.76%	0.24%
DELL	C	0.19%	0.12%	0.12%
DGX	A	0.1%	0.11%	0.1%
DPZ	C	0.11%	0.19%	0.11%
ELV	F	0.28%	0.52%	0.28%
FANG	D	0.2%	0.55%	0.2%
FICO	B	0.17%	0.59%	0.17%
GD	F	0.39%	0.05%	0.05%
GLW	B	0.19%	0.31%	0.19%
GOOG	C	1.73%	0.16%	0.16%
GRMN	B	0.25%	0.33%	0.25%
HIG	B	0.19%	0.12%	0.12%
IBM	C	1.31%	1.66%	1.31%
JNJ	D	1.55%	1.18%	1.18%
JNPR	F	0.09%	0.45%	0.09%
K	A	0.1%	0.8%	0.1%
KMB	D	0.14%	0.21%	0.14%
LLY	F	1.31%	1.25%	1.25%
LMT	D	0.4%	0.82%	0.4%
MA	C	1.79%	0.7%	0.7%
MRK	F	1.21%	1.01%	1.01%
MSFT	F	5.96%	1.34%	1.34%
MSI	B	0.58%	1.81%	0.58%
NTAP	C	0.21%	0.22%	0.21%
NVDA	C	6.71%	0.67%	0.67%
ORCL	B	0.88%	1.31%	0.88%
PKG	A	0.15%	0.2%	0.15%
REGN	F	0.59%	0.59%	0.59%
ROL	B	0.1%	0.36%	0.1%
RSG	A	0.31%	1.55%	0.31%
RTX	C	0.5%	0.09%	0.09%
SO	D	0.29%	1.35%	0.29%
T	A	1.07%	0.74%	0.74%
TJX	A	0.95%	0.45%	0.45%
TMUS	B	0.59%	1.95%	0.59%
TXN	C	1.24%	1.39%	1.24%
UNH	C	0.52%	1.34%	0.52%
UTHR	C	0.12%	0.14%	0.12%
VRTX	F	0.92%	0.69%	0.69%
VZ	C	1.24%	1.35%	1.24%
WM	A	0.67%	1.44%	0.67%
WMT	A	1.68%	1.78%	1.68%
XOM	B	0.63%	0.45%	0.45%

FLQL Overweight 154 Positions Relative to USMV

Symbol	Grade	Weight
META	D	2.48%
GOOGL	C	2.04%
COST	B	1.7%
ISRG	A	1.3%
CAT	B	1.27%
JPM	A	1.23%
QCOM	F	1.22%
BKNG	A	1.19%
TSLA	B	1.13%
C	A	0.97%
AMAT	F	0.96%
SYK	C	0.94%
MO	A	0.85%
BSX	B	0.84%
PM	B	0.71%
KLAC	D	0.67%
LRCX	F	0.66%
TT	A	0.65%
GS	A	0.6%
CMG	B	0.57%
MCO	B	0.56%
PH	A	0.52%
HCA	F	0.49%
SPG	B	0.46%
CTAS	B	0.46%
PCAR	B	0.44%
APP	B	0.42%
GWW	B	0.38%
PSA	D	0.38%
URI	B	0.38%
DHI	D	0.36%
GM	B	0.35%
HLT	A	0.33%
FAST	B	0.33%
LEN	D	0.3%
HPQ	B	0.29%
CMI	A	0.26%
HWM	A	0.25%
MCHP	D	0.23%
AFL	B	0.23%
SPOT	B	0.22%
PHM	D	0.22%
PEG	A	0.22%
DECK	A	0.22%
SYF	B	0.21%
HPE	B	0.21%
DAL	C	0.2%
NVR	D	0.19%
IRM	D	0.18%
LDOS	C	0.17%
EBAY	D	0.17%
WAB	B	0.17%
RCL	A	0.17%
LYB	F	0.16%
TPL	A	0.16%
ETR	B	0.16%
STLD	B	0.16%
LII	A	0.15%
CSL	C	0.15%
TSCO	D	0.15%
O	D	0.15%
WSM	B	0.15%
WSO	A	0.13%
OC	A	0.13%
TOL	B	0.13%
RMD	C	0.13%
CFG	B	0.13%
IP	B	0.13%
TNL	A	0.12%
NRG	B	0.12%
EME	C	0.12%
AWI	A	0.12%
RL	B	0.12%
JEF	A	0.12%
MAS	D	0.12%
AYI	B	0.12%
EVR	B	0.12%
FIX	A	0.12%
ALSN	B	0.12%
DTM	B	0.12%
AXS	A	0.11%
LNC	B	0.11%
BJ	A	0.11%
MUSA	A	0.11%
FOXA	B	0.11%
EXR	D	0.11%
PPC	C	0.11%
FOX	A	0.11%
CW	B	0.11%
R	B	0.11%
LOPE	B	0.11%
CASY	A	0.11%
RGA	A	0.11%
G	B	0.11%
CF	B	0.11%
ESS	B	0.11%
TXRH	C	0.11%
JHG	A	0.11%
THC	D	0.11%
BBY	D	0.11%
UGI	A	0.1%
OHI	C	0.1%
SCCO	F	0.1%
EMN	D	0.1%
CLH	B	0.1%
LAMR	D	0.1%
UHS	D	0.1%
AVB	B	0.1%
NFG	A	0.1%
DVA	B	0.1%
ADC	B	0.1%
DKS	C	0.1%
VICI	C	0.1%
KRC	C	0.1%
INGR	B	0.1%
KEX	C	0.1%
RGLD	C	0.1%
EHC	B	0.1%
CHRW	C	0.1%
CUZ	B	0.1%
AMCR	D	0.09%
WU	D	0.09%
NNN	D	0.09%
MPWR	F	0.09%
EPR	D	0.09%
PK	B	0.09%
SNX	C	0.09%
CACI	D	0.09%
NEU	C	0.09%
GAP	C	0.09%
GPK	C	0.09%
CHE	D	0.09%
LEN	D	0.09%
HRB	D	0.09%
GLPI	C	0.09%
AVT	C	0.09%
OMC	C	0.09%
SWKS	F	0.09%
MTG	C	0.09%
M	D	0.09%
SSNC	B	0.09%
HIW	D	0.09%
APA	D	0.08%
CRI	D	0.08%
WING	D	0.08%
COKE	C	0.08%
CIVI	D	0.08%
MEDP	D	0.08%
DVN	F	0.08%
TER	D	0.08%
CROX	D	0.07%
OGN	D	0.07%
CRUS	D	0.07%
MDU	D	0.07%

FLQL Underweight 114 Positions Relative to USMV

Symbol	Grade	Weight
PGR	A	-1.67%
WCN	A	-1.56%
DUK	C	-1.49%
CSCO	B	-1.47%
NOC	D	-1.43%
MCK	B	-1.35%
ROP	B	-1.3%
ACN	C	-1.29%
AJG	B	-1.27%
MCD	D	-1.25%
PG	A	-1.23%
TRV	B	-1.15%
ED	D	-1.13%
MMC	B	-1.11%
PEP	F	-1.01%
GDDY	A	-1.0%
AZO	C	-0.98%
GILD	C	-0.94%
V	A	-0.9%
EA	A	-0.89%
FCNCA	A	-0.88%
CBOE	B	-0.85%
WEC	A	-0.78%
NOW	A	-0.75%
TSN	B	-0.71%
FI	A	-0.69%
ORLY	B	-0.68%
COR	B	-0.67%
GIS	D	-0.66%
VRSN	F	-0.64%
KR	B	-0.61%
KDP	D	-0.59%
TDY	B	-0.57%
BDX	F	-0.56%
KEYS	A	-0.55%
FFIV	B	-0.55%
MPC	D	-0.54%
INCY	C	-0.53%
AON	A	-0.53%
CME	A	-0.53%
PTC	A	-0.52%
YUM	B	-0.5%
BMY	B	-0.49%
XEL	A	-0.46%
NEM	D	-0.46%
UBER	D	-0.45%
MDLZ	F	-0.44%
WDAY	B	-0.43%
EG	C	-0.43%
ERIE	D	-0.42%
VRSK	A	-0.42%
CHD	B	-0.4%
HUM	C	-0.4%
BAH	F	-0.39%
CMCSA	B	-0.39%
AEP	D	-0.39%
AKAM	D	-0.39%
KHC	F	-0.38%
WTW	B	-0.38%
CTVA	C	-0.38%
IT	C	-0.35%
AFG	A	-0.35%
GEN	B	-0.35%
CDW	F	-0.35%
CVX	A	-0.34%
MKL	A	-0.34%
CPB	D	-0.33%
AIZ	A	-0.32%
NBIX	C	-0.32%
WMB	A	-0.31%
WRB	A	-0.31%
FWONK	B	-0.31%
HSY	F	-0.3%
HD	A	-0.3%
ICE	C	-0.28%
L	A	-0.28%
HON	B	-0.25%
AEE	A	-0.24%
HUBS	A	-0.24%
D	C	-0.23%
AZPN	A	-0.23%
ALNY	D	-0.22%
BMRN	D	-0.22%
HRL	D	-0.21%
TW	A	-0.2%
DTE	C	-0.2%
PFE	D	-0.2%
CRWD	B	-0.19%
CMS	C	-0.19%
CDNS	B	-0.18%
MELI	D	-0.18%
MOH	F	-0.18%
SNPS	B	-0.18%
EOG	A	-0.17%
HOLX	D	-0.16%
LIN	D	-0.16%
STX	D	-0.16%
MDT	D	-0.13%
OXY	D	-0.12%
KO	D	-0.1%
LNT	A	-0.1%
ADP	B	-0.09%
ABT	B	-0.09%
OTIS	C	-0.07%
TEL	B	-0.07%
ATO	A	-0.06%
PSX	C	-0.06%
FSLR	F	-0.06%
KNX	B	-0.06%
VLO	C	-0.05%
BR	A	-0.05%
CRM	B	-0.05%
ULTA	F	-0.04%
CVS	D	-0.04%