GQRE vs. CRED ETF Comparison

Comparison of FlexShares Global Quality Real Estate Index Fund (GQRE) to Columbia Research Enhanced Real Estate ETF (CRED)

GQRE

FlexShares Global Quality Real Estate Index Fund

GQRE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Global Quality Real Estate IndexSM. The index is designed to measure the performance of companies that exhibit certain quality, valuation and momentum characteristics within a universe of publicly-traded equity securities of U.S. and non-U.S. real estate investment trusts and real estate companies. The fund will normally invest at least 80% of its total assets in the securities of the underlying index and in "ADRs" and "GDRs" based on the securities in its underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$61.16

Average Daily Volume

18,015

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CRED

Columbia Research Enhanced Real Estate ETF

CRED Description

Columbia Research Enhanced Real Estate ETF (the Fund) seeks investment results that, before fees and expenses, closely correspond to the performance of the Beta Advantage® Lionstone Research Enhanced REIT Index (the Index). The Beta Advantage® Lionstone Research Enhanced REIT Index (the “Index”) aims to achieve stronger total return than the FTSE NAREIT All Equity REITs Index through a rules-based strategic beta approach. The Index methodology leverages proprietary research and insights from Lionstone Investments and Columbia Threadneedle Investments to score and weight each constituent within the FTSE NAREIT All Equity REITs Index on such factors as liquidity, income, geographic exposure, quality, value, catalyst and research rating.

Grade (RS Rating)

Last Trade

$23.63

Average Daily Volume

686

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GQRE	CRED
30 Days	-0.18%	-1.32%
60 Days	-2.28%	-1.75%
90 Days	1.56%	3.00%
12 Months	22.76%	25.86%

37 Overlapping Holdings

Symbol	Grade	Weight in GQRE	Weight in CRED	Overlap
AMH	D	1.67%	1.7%	1.67%
AMT	D	2.37%	10.98%	2.37%
APLE	B	0.47%	0.64%	0.47%
AVB	B	4.37%	3.32%	3.32%
BNL	D	0.43%	0.43%	0.43%
CCI	D	0.19%	6.96%	0.19%
CUBE	D	1.45%	1.2%	1.2%
CUZ	B	0.64%	0.83%	0.64%
DLR	B	5.76%	6.22%	5.76%
DRH	B	0.26%	0.19%	0.19%
EPR	D	0.45%	0.77%	0.45%
EPRT	B	0.77%	0.54%	0.54%
EQIX	A	1.74%	7.18%	1.74%
ESRT	C	0.26%	0.13%	0.13%
FR	C	0.94%	0.92%	0.92%
HIW	D	0.46%	0.78%	0.46%
HPP	F	0.16%	0.07%	0.07%
HST	C	1.66%	1.27%	1.27%
IRM	D	0.69%	3.91%	0.69%
KRC	C	0.6%	0.87%	0.6%
KRG	B	0.8%	1.01%	0.8%
LAMR	D	1.5%	1.93%	1.5%
NNN	D	1.04%	0.85%	0.85%
NSA	D	0.4%	0.63%	0.4%
O	D	0.41%	5.9%	0.41%
PDM	D	0.26%	0.27%	0.26%
PK	B	0.42%	0.4%	0.4%
RLJ	C	0.24%	0.19%	0.19%
SBRA	C	0.57%	0.76%	0.57%
SHO	C	0.28%	0.17%	0.17%
SKT	B	0.52%	0.39%	0.39%
SPG	B	5.85%	7.67%	5.85%
STAG	F	0.89%	0.96%	0.89%
UE	C	0.38%	0.28%	0.28%
VNO	B	0.91%	0.64%	0.64%
WY	D	0.43%	2.39%	0.43%
XHR	B	0.28%	0.2%	0.2%

GQRE Overweight 26 Positions Relative to CRED

Symbol	Grade	Weight
EQR	B	3.36%
PLD	D	2.99%
ESS	B	2.62%
VICI	C	2.46%
KIM	A	2.25%
UDR	B	1.88%
CPT	B	1.73%
REG	B	1.59%
WELL	A	1.42%
ADC	B	1.02%
SLG	B	0.66%
PSA	D	0.64%
IRT	A	0.63%
NHI	D	0.45%
HASI	D	0.42%
IIPR	D	0.4%
AKR	B	0.35%
IVT	B	0.3%
EQC	B	0.29%
LTC	B	0.28%
DBRG	F	0.28%
AAT	B	0.26%
ALEX	C	0.26%
CSR	B	0.24%
JOE	F	0.24%
NXRT	B	0.24%

GQRE Underweight 33 Positions Relative to CRED

Symbol	Grade	Weight
MAA	B	-3.18%
DOC	D	-2.75%
SBAC	D	-2.68%
INVH	D	-2.5%
GLPI	C	-1.81%
BXP	D	-1.51%
BRX	A	-1.45%
OHI	C	-1.36%
SUI	D	-1.31%
RHP	B	-0.85%
CTRE	D	-0.73%
PECO	A	-0.61%
RYN	D	-0.51%
OUT	A	-0.51%
LXP	D	-0.49%
MPW	F	-0.47%
MAC	B	-0.43%
CDP	C	-0.39%
PCH	D	-0.36%
DEI	B	-0.33%
GNL	F	-0.31%
UNIT	B	-0.22%
JBGS	D	-0.18%
AHH	D	-0.17%
BDN	C	-0.16%
UMH	C	-0.14%
PEB	D	-0.12%
WSR	A	-0.12%
GMRE	F	-0.11%
INN	D	-0.09%
PGRE	F	-0.08%
ILPT	D	-0.02%
OPI	F	-0.01%