QDEF vs. FQAL ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Fidelity Quality Factor ETF (FQAL)

QDEF

FlexShares Quality Dividend Defensive Index Fund

QDEF 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 Defensive 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 that is lower than that of the Northern Trust 1250 IndexSM. It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$72.79

Average Daily Volume

6,852

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

FQAL

Fidelity Quality Factor ETF

FQAL Description

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

Grade (RS Rating)

Last Trade

$67.19

Average Daily Volume

29,912

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	FQAL
30 Days	1.58%	2.60%
60 Days	2.63%	4.35%
90 Days	4.66%	5.86%
12 Months	30.49%	30.56%

45 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in FQAL	Overlap
AAPL	C	6.07%	6.62%	6.07%
ABBV	D	2.6%	1.14%	1.14%
ADP	B	1.13%	0.64%	0.64%
AMT	D	0.82%	0.27%	0.27%
AVB	B	0.18%	0.19%	0.18%
AVGO	D	0.88%	2.0%	0.88%
AVY	D	0.48%	0.15%	0.15%
BMY	B	0.45%	1.02%	0.45%
CFR	B	0.6%	0.77%	0.6%
CME	A	0.71%	0.85%	0.71%
COST	B	0.24%	1.01%	0.24%
DPZ	C	0.41%	0.69%	0.41%
EQR	B	0.53%	0.17%	0.17%
ESS	B	0.54%	0.16%	0.16%
FAST	B	0.58%	0.53%	0.53%
GILD	C	1.03%	1.0%	1.0%
GOOGL	C	1.36%	3.69%	1.36%
HD	A	3.07%	1.5%	1.5%
ITW	B	0.74%	0.54%	0.54%
JNJ	D	2.93%	1.35%	1.35%
KLAC	D	0.79%	0.64%	0.64%
KMB	D	0.51%	0.31%	0.31%
KO	D	0.65%	0.66%	0.65%
LMT	D	1.05%	0.56%	0.56%
LOW	D	0.47%	1.02%	0.47%
MA	C	0.23%	1.48%	0.23%
META	D	2.76%	2.51%	2.51%
MMM	D	0.66%	0.5%	0.5%
MO	A	0.86%	0.44%	0.44%
MSFT	F	4.97%	6.3%	4.97%
NVDA	C	6.0%	7.24%	6.0%
OTIS	C	0.51%	0.45%	0.45%
PAYX	C	0.63%	0.49%	0.49%
PG	A	2.83%	0.98%	0.98%
PM	B	1.65%	0.63%	0.63%
PSA	D	0.59%	0.23%	0.23%
QCOM	F	1.65%	0.91%	0.91%
T	A	0.77%	0.57%	0.57%
V	A	0.38%	1.61%	0.38%
VRSK	A	0.57%	0.46%	0.46%
VZ	C	0.65%	0.56%	0.56%
WEC	A	0.28%	0.26%	0.26%
WSM	B	0.41%	0.63%	0.41%
XOM	B	0.5%	1.16%	0.5%
ZTS	D	0.11%	0.81%	0.11%

QDEF Overweight 78 Positions Relative to FQAL

Symbol	Grade	Weight
MRK	F	2.25%
IBM	C	1.7%
INTU	C	1.29%
TMUS	B	1.14%
GOOG	C	1.1%
TJX	A	0.99%
SBUX	A	0.98%
CI	F	0.83%
DUK	C	0.77%
MSI	B	0.74%
JPM	A	0.73%
MCK	B	0.71%
BK	A	0.67%
UNM	A	0.65%
EME	C	0.64%
BWXT	B	0.64%
UMBF	B	0.61%
CSCO	B	0.61%
FIS	C	0.6%
EA	A	0.6%
AFL	B	0.6%
GEN	B	0.59%
AIZ	A	0.58%
WTW	B	0.58%
VIRT	B	0.57%
CSWI	A	0.57%
COR	B	0.57%
LDOS	C	0.57%
D	C	0.56%
WDFC	B	0.55%
PPL	B	0.55%
ORI	A	0.54%
RMD	C	0.54%
K	A	0.53%
CSL	C	0.53%
OHI	C	0.53%
MET	A	0.53%
MAA	B	0.53%
PNW	B	0.52%
IRDM	D	0.52%
CPT	B	0.51%
OMF	A	0.5%
LSTR	D	0.49%
ED	D	0.49%
DOX	D	0.48%
BPOP	B	0.48%
RDN	C	0.48%
NSA	D	0.47%
OGE	B	0.47%
IPG	D	0.46%
DELL	C	0.46%
GIS	D	0.45%
VRT	B	0.45%
HRB	D	0.45%
WU	D	0.43%
EXPD	D	0.42%
SAIC	F	0.41%
CUBE	D	0.4%
EVRG	A	0.4%
EBAY	D	0.4%
EXC	C	0.39%
CHE	D	0.39%
SWKS	F	0.39%
MSM	C	0.37%
BSY	D	0.37%
STNG	F	0.36%
STWD	C	0.32%
NEP	F	0.32%
PEG	A	0.26%
MAS	D	0.23%
NNN	D	0.21%
CAH	B	0.17%
SCCO	F	0.16%
BAH	F	0.12%
DDS	B	0.12%
WMT	A	0.12%
ROL	B	0.12%
BAC	A	0.02%

QDEF Underweight 79 Positions Relative to FQAL

Symbol	Grade	Weight
LLY	F	-1.72%
BKNG	A	-1.21%
MCD	D	-1.11%
BX	A	-1.05%
ACN	C	-1.05%
PGR	A	-1.0%
ADBE	C	-0.97%
NFLX	A	-0.97%
FICO	B	-0.96%
PANW	C	-0.96%
AMP	A	-0.92%
SPGI	C	-0.92%
VRTX	F	-0.86%
GRMN	B	-0.86%
ORLY	B	-0.84%
VEEV	C	-0.84%
CPAY	A	-0.82%
EWBC	A	-0.78%
CAT	B	-0.77%
AMAT	F	-0.77%
MCO	B	-0.76%
MSCI	C	-0.75%
AZO	C	-0.75%
ABNB	C	-0.75%
JXN	C	-0.74%
YUM	B	-0.72%
ACGL	D	-0.71%
CBSH	A	-0.71%
CVX	A	-0.68%
LRCX	F	-0.67%
IDXX	F	-0.67%
KNSL	B	-0.65%
QLYS	C	-0.64%
UNP	C	-0.61%
MTD	D	-0.58%
MEDP	D	-0.57%
CTAS	B	-0.55%
GWW	B	-0.55%
AME	A	-0.52%
LIN	D	-0.52%
TDG	D	-0.49%
CSX	B	-0.49%
CPRT	A	-0.48%
NEE	D	-0.47%
ODFL	B	-0.45%
VST	B	-0.43%
COP	C	-0.41%
TTD	B	-0.41%
MDLZ	F	-0.38%
CL	D	-0.36%
SO	D	-0.36%
CEG	D	-0.36%
WMB	A	-0.34%
EOG	A	-0.32%
MNST	C	-0.31%
TPL	A	-0.31%
PLD	D	-0.3%
SHW	A	-0.3%
LNG	B	-0.28%
NRG	B	-0.27%
SPG	B	-0.25%
HSY	F	-0.25%
FCX	D	-0.24%
ECL	D	-0.24%
O	D	-0.21%
NFG	A	-0.2%
AM	A	-0.19%
EXR	D	-0.19%
UGI	A	-0.19%
MLM	B	-0.19%
WHD	B	-0.18%
VICI	C	-0.18%
NUE	C	-0.18%
RS	B	-0.17%
CF	B	-0.17%
SBAC	D	-0.16%
EXP	A	-0.16%
RGLD	C	-0.15%
GLPI	C	-0.14%