QDF vs. ANEW ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to ProShares MSCI Transformational Changes ETF (ANEW)

QDF

FlexShares Quality Dividend Index Fund

QDF 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 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 similar to that of the Northern Trust 1250 IndexSM (the "Parent Index"). It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$72.76

Average Daily Volume

26,182

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

ANEW

ProShares MSCI Transformational Changes ETF

ANEW Description

The investment seeks investment results, before fees and expenses, that track the performance of the MSCI Global Transformational Changes Index (the index). The fund seeks to invest substantially all of its assets in the securities included in the index. The index selects companies which may benefit from transformational changes in how people work, take care of their health, and consume and connect (Transformational Changes) - changes accelerated by COVID-19.

Grade (RS Rating)

Last Trade

$46.14

Average Daily Volume

355

Number of Holdings ^*

124

* may have additional holdings in another (foreign) market

Performance

Period	QDF	ANEW
30 Days	1.66%	2.32%
60 Days	2.62%	4.03%
90 Days	4.00%	5.72%
12 Months	26.92%	28.14%

20 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in ANEW	Overlap
AAPL	C	8.54%	2.23%	2.23%
ABBV	D	2.58%	1.92%	1.92%
AVGO	D	0.88%	1.54%	0.88%
BKNG	A	0.07%	2.39%	0.07%
EA	A	0.58%	0.69%	0.58%
EBAY	D	0.58%	0.62%	0.58%
GEN	B	0.58%	0.21%	0.21%
GOOGL	C	1.84%	1.67%	1.67%
IRDM	D	0.31%	0.16%	0.16%
MA	C	0.26%	0.91%	0.26%
META	D	3.1%	2.27%	2.27%
MRK	F	0.45%	1.39%	0.45%
MSFT	F	4.91%	1.81%	1.81%
NTAP	C	0.22%	0.2%	0.2%
NVDA	C	5.81%	2.87%	2.87%
NXPI	D	0.52%	0.14%	0.14%
QCOM	F	1.68%	0.52%	0.52%
RMD	C	0.17%	0.6%	0.17%
SMG	D	0.5%	0.4%	0.4%
V	A	0.4%	1.04%	0.4%

QDF Overweight 107 Positions Relative to ANEW

Symbol	Grade	Weight
PG	A	3.03%
JNJ	D	3.01%
KO	D	2.16%
ACN	C	1.93%
HD	A	1.77%
INTU	C	1.74%
GOOG	C	1.63%
PM	B	1.41%
LOW	D	1.27%
UNP	C	1.24%
ADP	B	1.11%
GILD	C	1.0%
MS	A	0.98%
MO	A	0.89%
LRCX	F	0.87%
VRT	B	0.83%
NKE	D	0.83%
SBUX	A	0.76%
KLAC	D	0.76%
CAT	B	0.75%
JPM	A	0.75%
ZTS	D	0.74%
ITW	B	0.74%
FAST	B	0.68%
BK	A	0.68%
MMM	D	0.65%
PAYX	C	0.63%
LMT	D	0.62%
FIS	C	0.62%
AFL	B	0.62%
PEG	A	0.61%
PRU	A	0.61%
VIRT	B	0.6%
KTB	B	0.6%
JHG	A	0.6%
PSA	D	0.6%
D	C	0.59%
AVB	B	0.58%
CMA	A	0.58%
TPR	B	0.57%
MET	A	0.56%
SNA	A	0.56%
WTW	B	0.56%
ORI	A	0.55%
CHRW	C	0.55%
EQR	B	0.55%
MAA	B	0.55%
VLO	C	0.55%
MPC	D	0.54%
OMF	A	0.52%
OHI	C	0.52%
CPT	B	0.51%
IVZ	B	0.51%
OGE	B	0.51%
XOM	B	0.5%
RDN	C	0.49%
STWD	C	0.49%
UGI	A	0.49%
NSA	D	0.49%
BPOP	B	0.48%
WDFC	B	0.47%
FAF	A	0.47%
DVN	F	0.46%
IPG	D	0.45%
MCHP	D	0.45%
WU	D	0.45%
POOL	C	0.44%
WSM	B	0.43%
TT	A	0.43%
CFR	B	0.42%
NUE	C	0.42%
EVRG	A	0.42%
WY	D	0.42%
HST	C	0.41%
SWKS	F	0.4%
CTAS	B	0.39%
LNC	B	0.39%
PFG	D	0.39%
RHI	B	0.38%
ALLY	C	0.37%
CUBE	D	0.37%
SCCO	F	0.36%
WMS	D	0.36%
APLE	B	0.35%
EIX	B	0.34%
NEP	F	0.3%
BR	A	0.3%
OLN	D	0.25%
COST	B	0.24%
NNN	D	0.23%
WING	D	0.2%
HRB	D	0.17%
DPZ	C	0.17%
PNW	B	0.16%
PAYC	B	0.16%
CL	D	0.15%
COR	B	0.14%
WMT	A	0.13%
BSY	D	0.13%
EXP	A	0.08%
WFRD	D	0.07%
CSWI	A	0.07%
MAR	B	0.05%
COP	C	0.04%
STNG	F	0.02%
BAC	A	0.02%
BBWI	D	0.01%

QDF Underweight 104 Positions Relative to ANEW

Symbol	Grade	Weight
DASH	A	-2.87%
NFLX	A	-2.53%
ISRG	A	-2.51%
BSX	B	-2.24%
ABT	B	-2.11%
AMZN	C	-2.07%
DE	A	-1.97%
CTVA	C	-1.94%
ADBE	C	-1.94%
MKC	D	-1.94%
BABA	D	-1.86%
IFF	D	-1.7%
DHR	F	-1.64%
SFM	A	-1.22%
BDX	F	-1.09%
CNH	C	-0.99%
FMC	D	-0.96%
SE	B	-0.83%
AGCO	D	-0.79%
AMAT	F	-0.78%
EW	C	-0.71%
TTWO	A	-0.65%
CSCO	B	-0.64%
ORCL	B	-0.62%
TCOM	B	-0.6%
ANSS	B	-0.56%
OMC	C	-0.55%
DKNG	B	-0.54%
ZD	C	-0.53%
MSTR	C	-0.52%
SMPL	B	-0.5%
DXCM	D	-0.49%
NEOG	F	-0.41%
WST	C	-0.39%
SXT	B	-0.37%
PINS	D	-0.37%
SNAP	C	-0.36%
DOCS	C	-0.35%
ILMN	D	-0.35%
AMD	F	-0.34%
NTRA	B	-0.33%
CRM	B	-0.33%
HOOD	B	-0.31%
DGX	A	-0.3%
CVLT	B	-0.28%
QTWO	A	-0.28%
PANW	C	-0.27%
NOW	A	-0.26%
PRCT	B	-0.26%
GMED	A	-0.25%
FFIV	B	-0.25%
COIN	C	-0.25%
GH	B	-0.25%
PYPL	B	-0.24%
INSP	D	-0.24%
SMAR	A	-0.24%
CCOI	B	-0.24%
CYBR	B	-0.23%
NET	B	-0.23%
DOCU	A	-0.23%
SMTC	B	-0.22%
AI	B	-0.22%
BOX	B	-0.22%
RARE	D	-0.22%
ALTR	B	-0.21%
EQIX	A	-0.21%
KTOS	B	-0.21%
CHKP	D	-0.21%
HPE	B	-0.21%
NOVT	D	-0.2%
HSIC	B	-0.2%
BL	B	-0.2%
PCTY	B	-0.2%
DBX	B	-0.2%
MRNA	F	-0.2%
VRNS	D	-0.2%
RIOT	C	-0.2%
BLKB	B	-0.19%
MARA	C	-0.19%
DT	C	-0.19%
PCOR	B	-0.18%
QGEN	D	-0.18%
WDAY	B	-0.18%
CRWD	B	-0.18%
TWST	D	-0.18%
TECH	D	-0.18%
JNPR	F	-0.18%
AKAM	D	-0.17%
TENB	C	-0.17%
NTNX	A	-0.17%
CRSP	D	-0.17%
ENOV	C	-0.17%
MEDP	D	-0.16%
EEFT	B	-0.16%
CLSK	C	-0.14%
SYNA	C	-0.14%
SLAB	D	-0.14%
CGNX	C	-0.14%
FIVN	C	-0.13%
OKTA	C	-0.13%
ACHC	F	-0.12%
TNDM	F	-0.12%
IDYA	F	-0.12%
TMDX	F	-0.11%