QDEF vs. MPAY ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Akros Monthly Payout ETF (MPAY)

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

$73.22

Average Daily Volume

6,852

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

MPAY

Akros Monthly Payout ETF

MPAY Description

MPAY seeks to provide potential monthly distributions, which may include return of capital to investors. The index is generally comprised of 50 stocks and 18 ETFs. For the stock component of the index, only those listed on a US exchange and have a market-cap of at least $1 billion may be included. A proprietary algorithm analyzes historical financial and trading data to rank and select stocks based on their excess return factor, which is a formula that gauges whether a stock could outperform future markets. The top 50 stocks are selected to be included. The ETF component of the index aims to cut across different asset classes: mainly foreign equity, broad commodity, gold, Treasurys, bonds, REITs, MBTs, and global infrastructure ETFs. Individual weights are based on a proprietary methodology that incorporates modern portfolio theory principles such as historical covariance, historical mean, historical risk contribution, and cluster analysis. The index is rebalanced monthly and is non-diversified.

Grade (RS Rating)

Last Trade

$25.89

Average Daily Volume

811

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	MPAY
30 Days	1.58%	1.35%
60 Days	2.63%	0.61%
90 Days	4.66%	2.24%
12 Months	30.49%	24.38%

23 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in MPAY	Overlap
AAPL	C	6.07%	5.94%	5.94%
ABBV	D	2.6%	1.45%	1.45%
ADP	B	1.13%	1.24%	1.13%
COST	B	0.24%	1.77%	0.24%
CSCO	B	0.61%	1.28%	0.61%
DELL	C	0.46%	1.02%	0.46%
GOOGL	C	1.36%	4.73%	1.36%
HD	A	3.07%	1.74%	1.74%
INTU	C	1.29%	1.3%	1.29%
JNJ	D	2.93%	1.46%	1.46%
KLAC	D	0.79%	1.32%	0.79%
LMT	D	1.05%	1.23%	1.05%
LOW	D	0.47%	1.37%	0.47%
MA	C	0.23%	1.76%	0.23%
MRK	F	2.25%	1.53%	1.53%
MSFT	F	4.97%	5.7%	4.97%
NVDA	C	6.0%	6.38%	6.0%
PM	B	1.65%	1.27%	1.27%
QCOM	F	1.65%	1.36%	1.36%
TJX	A	0.99%	1.28%	0.99%
V	A	0.38%	1.77%	0.38%
WMT	A	0.12%	2.21%	0.12%
XOM	B	0.5%	1.55%	0.5%

QDEF Overweight 100 Positions Relative to MPAY

Symbol	Grade	Weight
PG	A	2.83%
META	D	2.76%
IBM	C	1.7%
TMUS	B	1.14%
GOOG	C	1.1%
GILD	C	1.03%
SBUX	A	0.98%
AVGO	D	0.88%
MO	A	0.86%
CI	F	0.83%
AMT	D	0.82%
T	A	0.77%
DUK	C	0.77%
ITW	B	0.74%
MSI	B	0.74%
JPM	A	0.73%
CME	A	0.71%
MCK	B	0.71%
BK	A	0.67%
MMM	D	0.66%
VZ	C	0.65%
UNM	A	0.65%
KO	D	0.65%
EME	C	0.64%
BWXT	B	0.64%
PAYX	C	0.63%
UMBF	B	0.61%
FIS	C	0.6%
EA	A	0.6%
AFL	B	0.6%
CFR	B	0.6%
GEN	B	0.59%
PSA	D	0.59%
AIZ	A	0.58%
WTW	B	0.58%
FAST	B	0.58%
VIRT	B	0.57%
CSWI	A	0.57%
COR	B	0.57%
LDOS	C	0.57%
VRSK	A	0.57%
D	C	0.56%
WDFC	B	0.55%
PPL	B	0.55%
ORI	A	0.54%
ESS	B	0.54%
RMD	C	0.54%
K	A	0.53%
CSL	C	0.53%
OHI	C	0.53%
MET	A	0.53%
EQR	B	0.53%
MAA	B	0.53%
PNW	B	0.52%
IRDM	D	0.52%
CPT	B	0.51%
OTIS	C	0.51%
KMB	D	0.51%
OMF	A	0.5%
LSTR	D	0.49%
ED	D	0.49%
AVY	D	0.48%
DOX	D	0.48%
BPOP	B	0.48%
RDN	C	0.48%
NSA	D	0.47%
OGE	B	0.47%
IPG	D	0.46%
BMY	B	0.45%
GIS	D	0.45%
VRT	B	0.45%
HRB	D	0.45%
WU	D	0.43%
EXPD	D	0.42%
SAIC	F	0.41%
WSM	B	0.41%
DPZ	C	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%
WEC	A	0.28%
PEG	A	0.26%
MAS	D	0.23%
NNN	D	0.21%
AVB	B	0.18%
CAH	B	0.17%
SCCO	F	0.16%
BAH	F	0.12%
DDS	B	0.12%
ROL	B	0.12%
ZTS	D	0.11%
BAC	A	0.02%

QDEF Underweight 28 Positions Relative to MPAY

Symbol	Grade	Weight
AMZN	C	-4.97%
GLDM	C	-3.6%
IAUM	C	-3.36%
LLY	F	-3.04%
TSLA	B	-1.83%
ORCL	B	-1.78%
UNH	C	-1.74%
ADBE	C	-1.57%
NOW	A	-1.46%
AMAT	F	-1.45%
NFLX	A	-1.44%
CRM	B	-1.43%
ACN	C	-1.34%
CVX	A	-1.32%
MCD	D	-1.31%
CAT	B	-1.28%
HCA	F	-1.28%
FTNT	C	-1.28%
LIN	D	-1.27%
BKNG	A	-1.26%
PEP	F	-1.25%
NKE	D	-1.25%
AZO	C	-1.24%
ABNB	C	-1.23%
TXN	C	-1.23%
ABT	B	-1.23%
UPS	C	-1.22%
RTX	C	-1.19%