QDEF vs. ROE ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Astoria US Quality Kings ETF (ROE)

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

ROE

Astoria US Quality Kings ETF

ROE Description

The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stock principally traded in the U.S. The fund seeks to invest in companies that exhibit robust quality characteristics across sectors, with attractive valuations and dividend paying potential, as determined by the fund"s sub-adviser.

Grade (RS Rating)

Last Trade

$31.78

Average Daily Volume

13,670

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	ROE
30 Days	1.58%	3.50%
60 Days	2.63%	4.18%
90 Days	4.66%	4.70%
12 Months	30.49%	32.06%

37 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in ROE	Overlap
AAPL	C	6.07%	0.98%	0.98%
ABBV	D	2.6%	0.84%	0.84%
AFL	B	0.6%	1.01%	0.6%
CAH	B	0.17%	1.06%	0.17%
COR	B	0.57%	1.05%	0.57%
CSCO	B	0.61%	1.07%	0.61%
CSL	C	0.53%	0.98%	0.53%
DPZ	C	0.41%	1.02%	0.41%
EBAY	D	0.4%	0.92%	0.4%
EME	C	0.64%	1.14%	0.64%
GEN	B	0.59%	1.06%	0.59%
GOOGL	C	1.36%	1.05%	1.05%
HD	A	3.07%	1.02%	1.02%
IBM	C	1.7%	0.93%	0.93%
ITW	B	0.74%	1.02%	0.74%
JNJ	D	2.93%	0.94%	0.94%
KLAC	D	0.79%	0.79%	0.79%
KMB	D	0.51%	0.95%	0.51%
LMT	D	1.05%	0.9%	0.9%
LOW	D	0.47%	1.01%	0.47%
MCK	B	0.71%	1.25%	0.71%
META	D	2.76%	0.97%	0.97%
MO	A	0.86%	1.08%	0.86%
MRK	F	2.25%	0.82%	0.82%
MSFT	F	4.97%	0.95%	0.95%
MSI	B	0.74%	1.08%	0.74%
NVDA	C	6.0%	1.14%	1.14%
PM	B	1.65%	1.07%	1.07%
QCOM	F	1.65%	0.96%	0.96%
RMD	C	0.54%	0.95%	0.54%
SWKS	F	0.39%	0.83%	0.39%
TJX	A	0.99%	1.0%	0.99%
TMUS	B	1.14%	1.15%	1.14%
V	A	0.38%	1.11%	0.38%
VZ	C	0.65%	0.93%	0.65%
WSM	B	0.41%	0.86%	0.41%
ZTS	D	0.11%	0.89%	0.11%

QDEF Overweight 86 Positions Relative to ROE

Symbol	Grade	Weight
PG	A	2.83%
INTU	C	1.29%
ADP	B	1.13%
GOOG	C	1.1%
GILD	C	1.03%
SBUX	A	0.98%
AVGO	D	0.88%
CI	F	0.83%
AMT	D	0.82%
T	A	0.77%
DUK	C	0.77%
JPM	A	0.73%
CME	A	0.71%
BK	A	0.67%
MMM	D	0.66%
UNM	A	0.65%
KO	D	0.65%
BWXT	B	0.64%
PAYX	C	0.63%
UMBF	B	0.61%
FIS	C	0.6%
EA	A	0.6%
CFR	B	0.6%
PSA	D	0.59%
AIZ	A	0.58%
WTW	B	0.58%
FAST	B	0.58%
VIRT	B	0.57%
CSWI	A	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%
K	A	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%
XOM	B	0.5%
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%
DELL	C	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%
CUBE	D	0.4%
EVRG	A	0.4%
EXC	C	0.39%
CHE	D	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%
COST	B	0.24%
MA	C	0.23%
MAS	D	0.23%
NNN	D	0.21%
AVB	B	0.18%
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 62 Positions Relative to ROE

Symbol	Grade	Weight
APP	B	-2.26%
APO	B	-1.28%
VST	B	-1.27%
SYF	B	-1.27%
LYV	A	-1.21%
AMP	A	-1.2%
CHTR	C	-1.17%
NFLX	A	-1.16%
ETR	B	-1.13%
GWW	B	-1.11%
PANW	C	-1.1%
ORCL	B	-1.1%
RPM	A	-1.08%
TRV	B	-1.08%
TROW	B	-1.07%
SPG	B	-1.05%
WRB	A	-1.05%
EOG	A	-1.05%
APH	A	-1.04%
ALL	A	-1.03%
URI	B	-1.03%
NRG	B	-1.03%
ACN	C	-1.02%
CMCSA	B	-1.02%
DOV	A	-1.02%
JBL	B	-1.01%
VLO	C	-1.0%
PGR	A	-0.99%
TXN	C	-0.99%
CTSH	B	-0.99%
HIG	B	-0.99%
YUM	B	-0.98%
TGT	F	-0.98%
CAT	B	-0.98%
SYY	B	-0.98%
CB	C	-0.97%
NTAP	C	-0.96%
EG	C	-0.95%
VICI	C	-0.94%
OMC	C	-0.94%
ANET	C	-0.94%
ON	D	-0.93%
ADBE	C	-0.93%
NXPI	D	-0.92%
DVN	F	-0.92%
SBAC	D	-0.91%
THC	D	-0.91%
ROST	C	-0.91%
CL	D	-0.9%
GEHC	F	-0.88%
PHM	D	-0.88%
A	D	-0.86%
AMAT	F	-0.85%
LRCX	F	-0.83%
MCHP	D	-0.83%
DHI	D	-0.82%
LLY	F	-0.78%
CDW	F	-0.78%
TER	D	-0.78%
FSLR	F	-0.77%
MPWR	F	-0.64%
CE	F	-0.54%