QDEF vs. GQRE ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to FlexShares Global Quality Real Estate Index Fund (GQRE)

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

$72.55

Average Daily Volume

6,797

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

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

$60.68

Average Daily Volume

18,376

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	GQRE
30 Days	0.50%	-0.92%
60 Days	2.57%	-2.23%
90 Days	4.32%	0.75%
12 Months	30.06%	21.78%

9 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in GQRE	Overlap
AMT	C	0.82%	2.37%	0.82%
AVB	B	0.18%	4.37%	0.18%
CPT	B	0.51%	1.73%	0.51%
CUBE	C	0.4%	1.45%	0.4%
EQR	C	0.53%	3.36%	0.53%
ESS	B	0.54%	2.62%	0.54%
NNN	C	0.21%	1.04%	0.21%
NSA	C	0.47%	0.4%	0.4%
PSA	C	0.59%	0.64%	0.59%

QDEF Overweight 114 Positions Relative to GQRE

Symbol	Grade	Weight
AAPL	C	6.07%
NVDA	B	6.0%
MSFT	D	4.97%
HD	B	3.07%
JNJ	C	2.93%
PG	C	2.83%
META	D	2.76%
ABBV	F	2.6%
MRK	D	2.25%
IBM	C	1.7%
QCOM	F	1.65%
PM	B	1.65%
GOOGL	C	1.36%
INTU	B	1.29%
TMUS	B	1.14%
ADP	A	1.13%
GOOG	C	1.1%
LMT	D	1.05%
GILD	C	1.03%
TJX	A	0.99%
SBUX	A	0.98%
AVGO	D	0.88%
MO	A	0.86%
CI	D	0.83%
KLAC	F	0.79%
T	A	0.77%
DUK	C	0.77%
ITW	B	0.74%
MSI	B	0.74%
JPM	A	0.73%
CME	B	0.71%
MCK	A	0.71%
BK	A	0.67%
MMM	D	0.66%
VZ	C	0.65%
UNM	A	0.65%
KO	D	0.65%
EME	A	0.64%
BWXT	B	0.64%
PAYX	B	0.63%
UMBF	B	0.61%
CSCO	B	0.61%
FIS	C	0.6%
EA	A	0.6%
AFL	B	0.6%
CFR	B	0.6%
GEN	B	0.59%
AIZ	A	0.58%
WTW	B	0.58%
FAST	B	0.58%
VIRT	A	0.57%
CSWI	B	0.57%
COR	B	0.57%
LDOS	C	0.57%
VRSK	A	0.57%
D	C	0.56%
WDFC	B	0.55%
PPL	A	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	A	0.52%
IRDM	D	0.52%
OTIS	C	0.51%
KMB	C	0.51%
XOM	B	0.5%
OMF	A	0.5%
LSTR	D	0.49%
ED	C	0.49%
AVY	F	0.48%
DOX	D	0.48%
BPOP	C	0.48%
RDN	D	0.48%
LOW	C	0.47%
OGE	A	0.47%
IPG	D	0.46%
DELL	B	0.46%
BMY	B	0.45%
GIS	D	0.45%
VRT	B	0.45%
HRB	D	0.45%
WU	F	0.43%
EXPD	C	0.42%
SAIC	F	0.41%
WSM	C	0.41%
DPZ	C	0.41%
EVRG	A	0.4%
EBAY	D	0.4%
EXC	C	0.39%
CHE	D	0.39%
SWKS	F	0.39%
V	A	0.38%
MSM	C	0.37%
BSY	F	0.37%
STNG	F	0.36%
STWD	C	0.32%
NEP	F	0.32%
WEC	A	0.28%
PEG	A	0.26%
COST	A	0.24%
MA	B	0.23%
MAS	D	0.23%
CAH	B	0.17%
SCCO	F	0.16%
BAH	F	0.12%
DDS	B	0.12%
WMT	A	0.12%
ROL	B	0.12%
ZTS	D	0.11%
BAC	A	0.02%

QDEF Underweight 54 Positions Relative to GQRE

Symbol	Grade	Weight
SPG	A	-5.85%
DLR	B	-5.76%
PLD	F	-2.99%
VICI	C	-2.46%
KIM	A	-2.25%
UDR	B	-1.88%
EQIX	A	-1.74%
AMH	C	-1.67%
HST	C	-1.66%
REG	A	-1.59%
LAMR	C	-1.5%
WELL	A	-1.42%
ADC	A	-1.02%
FR	D	-0.94%
VNO	C	-0.91%
STAG	D	-0.89%
KRG	B	-0.8%
EPRT	B	-0.77%
IRM	C	-0.69%
SLG	B	-0.66%
CUZ	B	-0.64%
IRT	A	-0.63%
KRC	B	-0.6%
SBRA	C	-0.57%
SKT	A	-0.52%
APLE	B	-0.47%
HIW	C	-0.46%
EPR	C	-0.45%
NHI	D	-0.45%
WY	F	-0.43%
BNL	D	-0.43%
PK	C	-0.42%
HASI	D	-0.42%
O	C	-0.41%
IIPR	D	-0.4%
UE	B	-0.38%
AKR	B	-0.35%
IVT	A	-0.3%
EQC	B	-0.29%
LTC	B	-0.28%
SHO	D	-0.28%
XHR	B	-0.28%
DBRG	F	-0.28%
AAT	B	-0.26%
ALEX	B	-0.26%
DRH	B	-0.26%
PDM	D	-0.26%
ESRT	C	-0.26%
CSR	B	-0.24%
JOE	F	-0.24%
RLJ	C	-0.24%
NXRT	B	-0.24%
CCI	C	-0.19%
HPP	F	-0.16%