QDEF vs. SPMV ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Invesco S&P 500 Minimum Variance ETF (SPMV)

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

$71.15

Average Daily Volume

6,181

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

SPMV

Invesco S&P 500 Minimum Variance ETF

SPMV Description

The investment seeks to track the investment results (before fees and expenses) of the S&P 500® Minimum Volatility Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of a subset of constituent securities of the S&P 500 Index using a managed volatility equity strategy that seeks to achieve lower total volatility than the S&P 500 ® Index, while maintaining other similar characteristics of the S&P 500 ® Index.

Grade (RS Rating)

Last Trade

$46.66

Average Daily Volume

433

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	SPMV
30 Days	2.33%	2.30%
60 Days	6.28%	5.91%
90 Days	9.04%	7.21%
12 Months	33.91%	30.07%

26 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in SPMV	Overlap
AAPL	C	6.16%	2.27%	2.27%
AVGO	C	0.88%	0.96%	0.88%
BMY	C	0.38%	0.43%	0.38%
CSCO	B	0.55%	0.59%	0.55%
D	C	0.58%	0.41%	0.41%
DUK	B	0.81%	0.1%	0.1%
GIS	B	0.53%	1.79%	0.53%
GOOG	D	1.03%	0.5%	0.5%
HD	B	2.99%	2.55%	2.55%
INTU	D	1.22%	1.92%	1.22%
JNJ	C	3.22%	0.06%	0.06%
JPM	D	0.64%	0.51%	0.51%
K	A	0.53%	0.26%	0.26%
META	B	2.71%	0.71%	0.71%
MRK	F	2.72%	2.04%	2.04%
MSFT	C	5.17%	2.93%	2.93%
NVDA	C	4.88%	3.17%	3.17%
PG	C	2.94%	2.89%	2.89%
QCOM	D	1.77%	1.9%	1.77%
RMD	C	0.57%	0.67%	0.57%
ROL	C	0.12%	0.06%	0.06%
T	B	0.75%	0.5%	0.5%
TMUS	B	0.97%	2.25%	0.97%
VZ	A	0.7%	2.12%	0.7%
XOM	D	0.48%	0.31%	0.31%
ZTS	B	0.12%	0.07%	0.07%

QDEF Overweight 95 Positions Relative to SPMV

Symbol	Grade	Weight
ABBV	B	3.01%
IBM	B	1.76%
PM	C	1.56%
GOOGL	D	1.27%
LMT	A	1.11%
ADP	C	1.05%
TJX	C	0.99%
AMT	C	0.99%
SBUX	C	0.97%
KLAC	D	0.96%
GILD	B	0.95%
CI	C	0.92%
MO	C	0.79%
KO	B	0.75%
ITW	B	0.71%
CME	B	0.69%
MMM	B	0.68%
MSI	B	0.67%
PSA	C	0.65%
BK	B	0.63%
MCK	F	0.6%
AFL	A	0.6%
FIS	C	0.58%
PAYX	C	0.58%
EME	B	0.56%
ESS	C	0.56%
EQR	C	0.56%
MAA	C	0.56%
UMBF	C	0.55%
KMB	C	0.55%
LDOS	A	0.54%
WTW	B	0.54%
VRSK	D	0.54%
NSA	C	0.54%
CPT	C	0.54%
OHI	C	0.54%
PPL	A	0.53%
ED	B	0.53%
PNW	C	0.52%
ORI	B	0.52%
BPOP	C	0.52%
CSL	B	0.52%
UNM	B	0.52%
AVY	C	0.52%
EA	D	0.52%
AIZ	B	0.52%
MET	B	0.52%
CSWI	B	0.51%
CFR	C	0.51%
NEP	C	0.51%
WDFC	C	0.51%
FAST	C	0.51%
VIRT	C	0.51%
DOX	C	0.5%
BWXT	A	0.5%
IRDM	C	0.5%
OTIS	B	0.5%
IPG	C	0.5%
RDN	D	0.5%
LSTR	D	0.49%
HRB	C	0.49%
WU	C	0.48%
STNG	D	0.47%
SWKS	F	0.47%
WSM	C	0.47%
LOW	B	0.46%
CUBE	C	0.46%
OGE	B	0.46%
OMF	D	0.46%
EXPD	B	0.45%
SAIC	C	0.44%
EXC	B	0.41%
DELL	C	0.41%
CHE	C	0.41%
EBAY	B	0.41%
EVRG	B	0.4%
BSY	C	0.4%
DPZ	D	0.39%
MSM	D	0.37%
VRT	C	0.35%
STWD	B	0.35%
V	C	0.35%
WEC	B	0.28%
MAS	B	0.25%
PEG	B	0.25%
NNN	B	0.24%
COST	C	0.23%
MA	B	0.22%
AVB	C	0.18%
SCCO	C	0.17%
CAH	C	0.16%
BAH	B	0.12%
WMT	B	0.11%
DDS	D	0.1%
BAC	D	0.02%

QDEF Underweight 53 Positions Relative to SPMV

Symbol	Grade	Weight
NEE	B	-3.99%
PGR	C	-3.5%
ORCL	B	-3.36%
BRK.A	C	-3.06%
MMC	C	-2.97%
AMZN	C	-2.95%
CB	B	-2.85%
MDLZ	C	-2.81%
LLY	D	-2.74%
ABT	C	-2.18%
AJG	D	-2.03%
ADBE	F	-2.0%
PFE	D	-1.92%
AON	B	-1.87%
ELV	D	-1.86%
VRTX	D	-1.82%
AEP	C	-1.8%
CRM	C	-1.5%
CCI	C	-1.42%
CEG	C	-1.41%
SRE	B	-1.39%
ALL	C	-1.21%
ADM	D	-1.21%
HSY	D	-1.2%
NOW	C	-1.13%
SNPS	F	-1.12%
REGN	D	-0.98%
MKC	C	-0.89%
AIG	D	-0.82%
MDT	B	-0.8%
RSG	D	-0.79%
ACGL	B	-0.77%
IDXX	D	-0.75%
WRB	D	-0.73%
ISRG	C	-0.72%
AMGN	D	-0.66%
KHC	C	-0.53%
AES	C	-0.49%
RTX	B	-0.44%
MRNA	F	-0.43%
TFC	D	-0.42%
TRV	C	-0.41%
HRL	F	-0.4%
EL	D	-0.37%
ACN	C	-0.3%
SJM	C	-0.3%
ES	B	-0.28%
BDX	D	-0.14%
CAG	B	-0.12%
MTD	C	-0.09%
CDNS	D	-0.06%
PODD	C	-0.04%
XEL	B	-0.03%