QDF vs. BTAL ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to QuantShares U.S. Market Neutral Anti Beta Fund ETF (BTAL)

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

BTAL

QuantShares U.S. Market Neutral Anti Beta Fund ETF

BTAL Description

The investment seeks performance results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Thematic Market Neutral Anti-Beta Index. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stock, including the short positions, in the Target Anti-Beta Index. The Target Anti-Beta Index is a market neutral index that is dollar-neutral. As such, it identifies long and short securities positions of approximately equal dollar amounts. In choosing to track a market neutral index, the fund seeks to limit the effects of general market movements on the fund.

Grade (RS Rating)

Last Trade

$19.01

Average Daily Volume

445,126

Number of Holdings ^*

392

* may have additional holdings in another (foreign) market

Performance

Period	QDF	BTAL
30 Days	1.66%	-4.57%
60 Days	2.62%	-3.16%
90 Days	4.00%	-3.70%
12 Months	26.92%	-6.81%

38 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in BTAL	Overlap
ABBV	D	2.58%	0.36%	0.36%
ACN	C	1.93%	0.44%	0.44%
ADP	B	1.11%	0.46%	0.46%
ALLY	C	0.37%	-0.37%	-0.37%
AVB	B	0.58%	0.45%	0.45%
AVGO	D	0.88%	-0.45%	-0.45%
BBWI	D	0.01%	-0.44%	-0.44%
CHRW	C	0.55%	0.45%	0.45%
CMA	A	0.58%	-0.54%	-0.54%
COR	B	0.14%	0.45%	0.14%
D	C	0.59%	-0.45%	-0.45%
DVN	F	0.46%	0.37%	0.37%
EQR	B	0.55%	0.44%	0.44%
EXP	A	0.08%	-0.53%	-0.53%
GILD	C	1.0%	0.49%	0.49%
HRB	D	0.17%	0.41%	0.17%
JHG	A	0.6%	-0.53%	-0.53%
JNJ	D	3.01%	0.42%	0.42%
KO	D	2.16%	0.37%	0.37%
LMT	D	0.62%	0.38%	0.38%
LNC	B	0.39%	-0.48%	-0.48%
LRCX	F	0.87%	-0.36%	-0.36%
MSFT	F	4.91%	0.43%	0.43%
NVDA	C	5.81%	-0.48%	-0.48%
OHI	C	0.52%	0.43%	0.43%
ORI	A	0.55%	0.46%	0.46%
PAYC	B	0.16%	0.59%	0.16%
PAYX	C	0.63%	0.47%	0.47%
PNW	B	0.16%	0.45%	0.16%
RMD	C	0.17%	-0.45%	-0.45%
SMG	D	0.5%	-0.46%	-0.46%
SNA	A	0.56%	0.55%	0.55%
TT	A	0.43%	-0.51%	-0.51%
UGI	A	0.49%	-0.44%	-0.44%
VRT	B	0.83%	-0.67%	-0.67%
WMS	D	0.36%	-0.37%	-0.37%
WTW	B	0.56%	0.45%	0.45%
XOM	B	0.5%	0.44%	0.44%

QDF Overweight 89 Positions Relative to BTAL

Symbol	Grade	Weight
AAPL	C	8.54%
META	D	3.1%
PG	A	3.03%
GOOGL	C	1.84%
HD	A	1.77%
INTU	C	1.74%
QCOM	F	1.68%
GOOG	C	1.63%
PM	B	1.41%
LOW	D	1.27%
UNP	C	1.24%
MS	A	0.98%
MO	A	0.89%
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%
FIS	C	0.62%
AFL	B	0.62%
PEG	A	0.61%
PRU	A	0.61%
VIRT	B	0.6%
KTB	B	0.6%
PSA	D	0.6%
EBAY	D	0.58%
EA	A	0.58%
GEN	B	0.58%
TPR	B	0.57%
MET	A	0.56%
MAA	B	0.55%
VLO	C	0.55%
MPC	D	0.54%
NXPI	D	0.52%
OMF	A	0.52%
CPT	B	0.51%
IVZ	B	0.51%
OGE	B	0.51%
RDN	C	0.49%
STWD	C	0.49%
NSA	D	0.49%
BPOP	B	0.48%
WDFC	B	0.47%
FAF	A	0.47%
MRK	F	0.45%
IPG	D	0.45%
MCHP	D	0.45%
WU	D	0.45%
POOL	C	0.44%
WSM	B	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%
V	A	0.4%
CTAS	B	0.39%
PFG	D	0.39%
RHI	B	0.38%
CUBE	D	0.37%
SCCO	F	0.36%
APLE	B	0.35%
EIX	B	0.34%
IRDM	D	0.31%
NEP	F	0.3%
BR	A	0.3%
MA	C	0.26%
OLN	D	0.25%
COST	B	0.24%
NNN	D	0.23%
NTAP	C	0.22%
WING	D	0.2%
DPZ	C	0.17%
CL	D	0.15%
WMT	A	0.13%
BSY	D	0.13%
WFRD	D	0.07%
CSWI	A	0.07%
BKNG	A	0.07%
MAR	B	0.05%
COP	C	0.04%
STNG	F	0.02%
BAC	A	0.02%

QDF Underweight 354 Positions Relative to BTAL

Symbol	Grade	Weight
MSTR	C	-1.19%
BILL	A	-0.68%
IBKR	A	-0.62%
SFM	A	-0.6%
LPLA	A	-0.59%
HQY	B	-0.58%
UNM	A	-0.57%
ALSN	B	-0.56%
KMI	A	-0.56%
CFLT	B	-0.56%
NWL	B	-0.54%
BKR	B	-0.53%
PCTY	B	-0.53%
MKL	A	-0.53%
WH	B	-0.53%
BWXT	B	-0.53%
TGNA	B	-0.53%
TRV	B	-0.52%
FFIV	B	-0.52%
FTNT	C	-0.52%
TXRH	C	-0.51%
MSI	B	-0.51%
RLI	B	-0.51%
PCAR	B	-0.51%
MCK	B	-0.51%
THG	A	-0.51%
LNG	B	-0.51%
BMY	B	-0.51%
WELL	A	-0.5%
CHH	A	-0.5%
XEL	A	-0.5%
PNM	F	-0.5%
ORLY	B	-0.5%
T	A	-0.5%
CSCO	B	-0.49%
AEE	A	-0.49%
CINF	A	-0.49%
G	B	-0.49%
TMUS	B	-0.49%
PKG	A	-0.49%
ALL	A	-0.48%
VFC	C	-0.48%
SIGI	C	-0.48%
FOXA	B	-0.48%
RGA	A	-0.48%
VTRS	A	-0.48%
LULU	C	-0.48%
AIZ	A	-0.48%
AXS	A	-0.48%
TDY	B	-0.48%
BRO	B	-0.47%
SBRA	C	-0.47%
DBX	B	-0.47%
CHD	B	-0.47%
GLW	B	-0.47%
CME	A	-0.47%
AON	A	-0.47%
HON	B	-0.47%
HEI	B	-0.47%
KR	B	-0.47%
CW	B	-0.47%
RYAN	B	-0.47%
EDR	A	-0.46%
DRI	B	-0.46%
WEN	D	-0.46%
SLGN	A	-0.46%
RNR	C	-0.46%
LNT	A	-0.46%
CF	B	-0.46%
WEC	A	-0.46%
UTHR	C	-0.45%
WRB	A	-0.45%
CB	C	-0.45%
CSX	B	-0.45%
CMG	B	-0.45%
REG	B	-0.45%
ARMK	B	-0.45%
PGR	A	-0.45%
WM	A	-0.45%
IBM	C	-0.45%
HIG	B	-0.45%
ADC	B	-0.45%
DGX	A	-0.45%
HPQ	B	-0.45%
L	A	-0.45%
ROP	B	-0.45%
JAZZ	B	-0.44%
DECK	A	-0.44%
CMS	C	-0.44%
BWA	D	-0.44%
CDP	C	-0.44%
VZ	C	-0.44%
NEU	C	-0.44%
CBOE	B	-0.43%
DOX	D	-0.43%
VRSN	F	-0.43%
UNH	C	-0.43%
DLB	B	-0.43%
CLH	B	-0.43%
ZI	D	-0.43%
CTSH	B	-0.43%
YUM	B	-0.43%
MUSA	A	-0.43%
DD	D	-0.43%
RTX	C	-0.43%
X	C	-0.43%
RSG	A	-0.43%
ELS	C	-0.43%
TJX	A	-0.43%
CCK	C	-0.43%
DUK	C	-0.43%
MSM	C	-0.43%
COLM	B	-0.43%
FLO	D	-0.42%
AVT	C	-0.42%
VICI	C	-0.42%
MMC	B	-0.42%
CACI	D	-0.42%
CXT	B	-0.42%
ED	D	-0.42%
GLPI	C	-0.42%
MCD	D	-0.42%
EG	C	-0.42%
J	F	-0.41%
WPC	D	-0.41%
SNX	C	-0.41%
MKC	D	-0.41%
OLLI	D	-0.41%
GD	F	-0.41%
PAG	B	-0.41%
BG	F	-0.4%
SAIC	F	-0.4%
CI	F	-0.4%
CHE	D	-0.4%
MSA	D	-0.4%
NOC	D	-0.4%
TXT	D	-0.4%
ASGN	F	-0.39%
WTM	A	-0.39%
AMCR	D	-0.39%
O	D	-0.39%
JNPR	F	-0.39%
FANG	D	-0.39%
KHC	F	-0.38%
CPB	D	-0.38%
ON	D	-0.38%
ACGL	D	-0.38%
GIS	D	-0.38%
ERIE	D	-0.38%
OXY	D	-0.38%
MOS	F	-0.38%
FCN	D	-0.38%
FMC	D	-0.37%
MAN	D	-0.37%
KBR	F	-0.37%
ARW	D	-0.37%
GPC	D	-0.37%
TNET	D	-0.37%
PFE	D	-0.37%
AMGN	D	-0.37%
MUR	D	-0.37%
ST	F	-0.36%
MOH	F	-0.36%
AKAM	D	-0.36%
NEM	D	-0.35%
MTCH	D	-0.35%
FOXF	F	-0.35%
HUM	C	-0.34%
AZO	C	-0.33%
ELV	F	-0.33%
MDU	D	-0.32%
CNC	D	-0.32%
SRPT	D	-0.32%
BMRN	D	-0.29%
AGL	F	-0.16%
SMCI	F	--0.18%
SEDG	F	--0.19%
RUN	F	--0.21%
MRNA	F	--0.22%
CNXC	F	--0.23%
ENPH	F	--0.23%
MPWR	F	--0.24%
CE	F	--0.24%
WOLF	F	--0.25%
TXG	F	--0.26%
NTLA	F	--0.27%
RKT	F	--0.29%
CELH	F	--0.29%
RIVN	F	--0.3%
OPEN	D	--0.3%
EL	F	--0.31%
TER	D	--0.33%
BRZE	C	--0.33%
COTY	F	--0.33%
AMKR	D	--0.34%
ELF	C	--0.35%
EFX	F	--0.35%
SHLS	F	--0.35%
ARWR	F	--0.35%
AES	F	--0.35%
TFX	F	--0.36%
DKS	C	--0.37%
RGEN	D	--0.37%
NVCR	C	--0.38%
RIG	D	--0.38%
CNM	D	--0.38%
DINO	D	--0.39%
PLD	D	--0.39%
IDXX	F	--0.39%
KSS	F	--0.39%
ELAN	D	--0.39%
PINS	D	--0.4%
WBA	F	--0.4%
ARE	D	--0.4%
FND	C	--0.4%
MKSI	C	--0.4%
AMD	F	--0.4%
BLD	D	--0.4%
KMX	B	--0.4%
FBIN	D	--0.41%
ROIV	C	--0.41%
AGNC	D	--0.41%
W	F	--0.41%
POWI	D	--0.41%
CRL	C	--0.41%
DNLI	D	--0.42%
CHX	C	--0.42%
AWK	D	--0.42%
FCX	D	--0.42%
CZR	F	--0.42%
UBER	D	--0.42%
CWEN	C	--0.42%
CSGP	D	--0.42%
MU	D	--0.43%
ILMN	D	--0.43%
CC	C	--0.43%
CRSP	D	--0.43%
MGM	D	--0.43%
ALGN	D	--0.43%
PATH	C	--0.43%
SSD	D	--0.43%
SEE	C	--0.44%
THO	B	--0.44%
BLDR	D	--0.44%
F	C	--0.44%
TRU	D	--0.44%
EW	C	--0.44%
RYN	D	--0.44%
APG	B	--0.44%
TGT	F	--0.44%
TREX	C	--0.45%
NWE	B	--0.45%
DAR	C	--0.45%
CARR	D	--0.45%
MTDR	B	--0.45%
OC	A	--0.46%
VEEV	C	--0.46%
BXP	D	--0.46%
LAMR	D	--0.46%
ZS	C	--0.46%
KRC	C	--0.46%
JLL	D	--0.46%
ANET	C	--0.46%
PENN	C	--0.46%
TOL	B	--0.47%
ROKU	D	--0.47%
HHH	B	--0.47%
SHW	A	--0.47%
TROW	B	--0.48%
AXTA	A	--0.49%
OZK	B	--0.49%
USFD	A	--0.49%
PFGC	B	--0.49%
ITT	A	--0.49%
NRG	B	--0.49%
WAL	B	--0.49%
GH	B	--0.49%
SNAP	C	--0.49%
USB	A	--0.49%
CFG	B	--0.49%
NVT	B	--0.49%
RF	A	--0.5%
TTD	B	--0.5%
NET	B	--0.5%
CAR	C	--0.51%
RMBS	C	--0.51%
PWR	A	--0.51%
GNRC	B	--0.51%
CBRE	B	--0.51%
RBLX	C	--0.51%
RRC	B	--0.51%
LPX	B	--0.52%
CEG	D	--0.52%
COHR	B	--0.52%
PEN	B	--0.52%
ETN	A	--0.52%
IOT	A	--0.52%
URI	B	--0.52%
VNO	B	--0.52%
PYPL	B	--0.52%
ALB	C	--0.52%
DELL	C	--0.53%
ZION	B	--0.53%
MDB	C	--0.53%
AR	B	--0.53%
RH	B	--0.53%
FYBR	D	--0.53%
DKNG	B	--0.53%
INTC	D	--0.54%
SNV	B	--0.54%
BLK	C	--0.54%
FOUR	B	--0.54%
NTRS	A	--0.54%
XPO	B	--0.54%
CG	A	--0.55%
KKR	A	--0.55%
PNFP	B	--0.55%
WCC	B	--0.55%
AA	B	--0.56%
SCHW	B	--0.56%
DAY	B	--0.56%
Z	A	--0.56%
GME	C	--0.56%
EXPE	B	--0.56%
MRVL	B	--0.56%
TDOC	C	--0.56%
NTRA	B	--0.56%
BX	A	--0.57%
CRWD	B	--0.57%
GTLS	B	--0.58%
OWL	A	--0.58%
TPG	A	--0.58%
EQT	B	--0.59%
PODD	C	--0.59%
DASH	A	--0.59%
SAIA	B	--0.59%
SQ	B	--0.6%
LYV	A	--0.62%
LITE	B	--0.62%
DUOL	A	--0.63%
CCL	B	--0.63%
LYFT	C	--0.65%
CVNA	B	--0.68%
DAL	C	--0.68%
PTON	B	--0.69%
TSLA	B	--0.7%
TOST	B	--0.71%
COIN	C	--0.71%
HOOD	B	--0.72%
AXON	A	--0.74%
VST	B	--0.76%
SOFI	A	--0.79%
AFRM	B	--0.84%
PLTR	B	--0.87%