ITAN vs. QDF ETF Comparison

Comparison of Sparkline Intangible Value ETF (ITAN) to FlexShares Quality Dividend Index Fund (QDF)

ITAN

Sparkline Intangible Value ETF

ITAN Description

The investment seeks long-term capital appreciation. The fund is an actively-managed exchange-traded fund (âETFâ). The fund will invest in U.S.-listed equity securities that Sparkline Capital LP (the âSub-Adviserâ) believes are attractive relative to its proprietary measure of âintangible-augmented intrinsic value.â The fundâs investments may include common stocks and Real Estate Investment Trusts (REITs). Although the fund will not concentrate its investments in a particular industry, the Sub-Adviser anticipates that fund will hold a meaningful amount of stocks in the technology, communications, healthcare, and consumer discretionary sectors.

Grade (RS Rating)

Last Trade

$31.38

Average Daily Volume

5,598

Number of Holdings ^*

151

* 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

$71.42

Average Daily Volume

26,367

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

Performance

Period	ITAN	QDF
30 Days	1.37%	-1.48%
60 Days	6.70%	2.06%
90 Days	9.83%	3.65%
12 Months	31.00%	25.53%

20 Overlapping Holdings

Symbol	Grade	Weight in ITAN	Weight in QDF	Overlap
ACN	C	1.6%	1.93%	1.6%
ALLY	C	0.32%	0.38%	0.32%
EA	A	0.53%	0.55%	0.53%
EBAY	D	0.66%	0.58%	0.58%
FAF	C	0.25%	0.45%	0.25%
GILD	B	0.92%	1.08%	0.92%
GOOG	B	2.09%	1.65%	1.65%
GOOGL	B	2.09%	1.87%	1.87%
HRB	D	0.21%	0.17%	0.17%
IVZ	B	0.24%	0.53%	0.24%
LMT	D	0.39%	0.65%	0.39%
META	C	2.87%	3.22%	2.87%
MMM	D	0.89%	0.66%	0.66%
NTAP	D	0.6%	0.22%	0.22%
NXPI	F	0.66%	0.52%	0.52%
PRU	A	0.53%	0.59%	0.53%
QCOM	F	1.55%	1.7%	1.55%
RHI	B	0.22%	0.39%	0.22%
SWKS	F	0.32%	0.41%	0.32%
TPR	A	0.34%	0.51%	0.34%

ITAN Overweight 131 Positions Relative to QDF

Symbol	Grade	Weight
AMZN	B	4.86%
ORCL	A	2.31%
CRM	A	2.14%
CSCO	B	1.78%
IBM	D	1.69%
T	A	1.55%
WFC	A	1.51%
TMUS	A	1.42%
VZ	C	1.3%
PFE	F	1.28%
INTC	C	1.26%
RTX	D	1.23%
HON	A	1.21%
MDT	D	1.18%
DELL	C	1.11%
DIS	A	1.1%
PYPL	A	1.1%
COF	A	1.09%
CMCSA	B	1.06%
TGT	D	1.03%
BMY	B	1.03%
GM	A	1.0%
BA	F	0.96%
NOC	D	0.91%
CVS	F	0.9%
PANW	B	0.89%
SQ	A	0.87%
FDX	A	0.85%
CMI	A	0.84%
F	C	0.82%
CTSH	B	0.8%
LHX	B	0.74%
HPQ	B	0.72%
CHTR	B	0.72%
ALL	A	0.72%
DASH	B	0.71%
BDX	F	0.7%
GD	D	0.7%
WDAY	B	0.7%
UAL	A	0.7%
JCI	A	0.69%
ADSK	B	0.64%
HPE	B	0.63%
DAL	A	0.6%
GLW	B	0.59%
EXPE	A	0.58%
CVNA	A	0.56%
LDOS	C	0.55%
CNC	F	0.54%
ZM	B	0.54%
ILMN	C	0.54%
WBD	B	0.53%
DOCU	A	0.53%
CAH	B	0.53%
WDC	F	0.53%
HUM	F	0.53%
SNAP	D	0.51%
KR	B	0.51%
ZS	B	0.51%
TWLO	A	0.49%
NTNX	A	0.49%
VTRS	A	0.49%
BAH	D	0.47%
FFIV	B	0.46%
BBY	C	0.46%
IQV	F	0.46%
ZBRA	B	0.46%
J	D	0.45%
ROK	A	0.45%
LH	B	0.45%
OKTA	D	0.44%
BAX	F	0.44%
DD	D	0.44%
DGX	A	0.43%
TRMB	A	0.43%
BIIB	F	0.42%
JNPR	D	0.42%
ACM	B	0.42%
CIEN	B	0.41%
CACI	C	0.41%
PSTG	F	0.39%
ROKU	D	0.39%
AAL	B	0.38%
LUMN	C	0.37%
JLL	C	0.37%
LYFT	B	0.37%
DBX	C	0.37%
JBL	C	0.37%
DVA	C	0.36%
IP	A	0.34%
EMN	C	0.34%
TRU	D	0.34%
NWSA	B	0.33%
JAZZ	A	0.32%
AKAM	F	0.32%
TAP	A	0.31%
ELAN	C	0.3%
ACI	C	0.3%
TXT	D	0.3%
SWK	F	0.29%
ETSY	D	0.29%
WBA	F	0.29%
ANF	C	0.28%
G	A	0.28%
PARA	C	0.28%
RIVN	F	0.27%
BIO	C	0.27%
WHR	A	0.27%
HAS	D	0.26%
MASI	A	0.26%
BOX	B	0.26%
EXAS	F	0.26%
W	F	0.25%
U	F	0.25%
PATH	D	0.24%
DOX	D	0.24%
ALK	A	0.24%
GAP	C	0.24%
MAT	C	0.24%
UAA	B	0.24%
ARW	D	0.23%
FLS	A	0.23%
MTCH	F	0.23%
BWA	A	0.22%
NOV	D	0.22%
QRVO	F	0.2%
AGCO	D	0.19%
HOG	D	0.19%
M	C	0.16%
RUN	F	0.14%
XRAY	F	0.13%

ITAN Underweight 107 Positions Relative to QDF

Symbol	Grade	Weight
AAPL	C	-8.28%
NVDA	B	-5.94%
MSFT	D	-4.88%
JNJ	D	-2.98%
PG	C	-2.91%
ABBV	F	-2.67%
KO	D	-2.19%
INTU	A	-1.77%
HD	A	-1.73%
PM	A	-1.32%
UNP	D	-1.27%
LOW	A	-1.27%
ADP	B	-1.13%
MS	A	-0.97%
AVGO	C	-0.94%
LRCX	F	-0.92%
NKE	D	-0.84%
MO	A	-0.84%
VRT	A	-0.84%
KLAC	F	-0.81%
CAT	B	-0.76%
SBUX	A	-0.75%
ITW	B	-0.74%
ZTS	D	-0.73%
JPM	A	-0.72%
FAST	B	-0.69%
BK	A	-0.67%
PAYX	B	-0.65%
FIS	B	-0.61%
PEG	C	-0.6%
GEN	B	-0.6%
JHG	A	-0.6%
AFL	C	-0.6%
VIRT	A	-0.59%
KTB	A	-0.59%
CMA	A	-0.59%
PSA	C	-0.59%
AVB	A	-0.58%
D	C	-0.58%
WTW	B	-0.56%
SNA	A	-0.56%
MAA	A	-0.55%
OHI	C	-0.54%
MET	A	-0.54%
ORI	A	-0.53%
EQR	C	-0.53%
CHRW	A	-0.53%
MPC	D	-0.52%
OGE	A	-0.52%
OMF	A	-0.52%
VLO	C	-0.52%
CPT	D	-0.51%
NSA	C	-0.49%
XOM	B	-0.49%
SMG	D	-0.49%
IPG	F	-0.48%
BPOP	C	-0.48%
MCHP	F	-0.48%
STWD	D	-0.48%
RDN	C	-0.48%
WDFC	A	-0.47%
UGI	C	-0.47%
MRK	F	-0.46%
NUE	D	-0.45%
POOL	D	-0.45%
DVN	F	-0.45%
WU	F	-0.44%
CFR	A	-0.43%
TT	A	-0.43%
HST	D	-0.42%
WY	D	-0.42%
WSM	F	-0.41%
EVRG	A	-0.41%
LNC	A	-0.4%
CTAS	B	-0.4%
V	A	-0.39%
PFG	C	-0.39%
SCCO	F	-0.37%
WMS	F	-0.37%
APLE	B	-0.36%
CUBE	C	-0.36%
IRDM	C	-0.33%
EIX	C	-0.33%
NEP	F	-0.32%
BR	A	-0.3%
MA	A	-0.26%
OLN	F	-0.26%
COST	B	-0.24%
NNN	D	-0.23%
WING	F	-0.2%
RMD	C	-0.18%
DPZ	C	-0.17%
PNW	A	-0.16%
PAYC	B	-0.16%
CL	D	-0.15%
COR	B	-0.14%
WMT	A	-0.13%
BSY	D	-0.13%
EXP	B	-0.09%
WFRD	F	-0.07%
CSWI	B	-0.07%
BKNG	A	-0.07%
MAR	A	-0.05%
COP	C	-0.04%
STNG	F	-0.02%
BAC	A	-0.02%
BBWI	C	-0.01%