QDF vs. DUSL ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Direxion Daily Industrials Bull 3X Shares (DUSL)

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

DUSL

Direxion Daily Industrials Bull 3X Shares

DUSL Description

The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the Industrials Select Sector Index. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments that provide daily leveraged exposure to the index and/or exchange-traded funds ("ETFs") that track the index. The index is provided by S&P Dow Jones Indices and includes domestic companies from the industrials sector which includes the following industries: aerospace and defense: industry conglomerates; and machinery. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$73.48

Average Daily Volume

19,758

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDF	DUSL
30 Days	1.66%	11.52%
60 Days	2.62%	17.64%
90 Days	4.00%	29.22%
12 Months	26.92%	112.07%

14 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in DUSL	Overlap
ADP	B	1.11%	1.86%	1.11%
BR	A	0.3%	0.4%	0.3%
CAT	B	0.75%	2.83%	0.75%
CHRW	C	0.55%	0.2%	0.2%
CTAS	B	0.39%	1.12%	0.39%
FAST	B	0.68%	0.71%	0.68%
ITW	B	0.74%	1.1%	0.74%
LMT	D	0.62%	1.72%	0.62%
MMM	D	0.65%	1.09%	0.65%
PAYC	B	0.16%	0.16%	0.16%
PAYX	C	0.63%	0.7%	0.63%
SNA	A	0.56%	0.28%	0.28%
TT	A	0.43%	1.39%	0.43%
UNP	C	1.24%	2.16%	1.24%

QDF Overweight 113 Positions Relative to DUSL

Symbol	Grade	Weight
AAPL	C	8.54%
NVDA	C	5.81%
MSFT	F	4.91%
META	D	3.1%
PG	A	3.03%
JNJ	D	3.01%
ABBV	D	2.58%
KO	D	2.16%
ACN	C	1.93%
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%
GILD	C	1.0%
MS	A	0.98%
MO	A	0.89%
AVGO	D	0.88%
LRCX	F	0.87%
VRT	B	0.83%
NKE	D	0.83%
SBUX	A	0.76%
KLAC	D	0.76%
JPM	A	0.75%
ZTS	D	0.74%
BK	A	0.68%
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%
EBAY	D	0.58%
EA	A	0.58%
CMA	A	0.58%
GEN	B	0.58%
TPR	B	0.57%
MET	A	0.56%
WTW	B	0.56%
ORI	A	0.55%
EQR	B	0.55%
MAA	B	0.55%
VLO	C	0.55%
MPC	D	0.54%
NXPI	D	0.52%
OMF	A	0.52%
OHI	C	0.52%
CPT	B	0.51%
IVZ	B	0.51%
OGE	B	0.51%
XOM	B	0.5%
SMG	D	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%
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%
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%
IRDM	D	0.31%
NEP	F	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%
HRB	D	0.17%
RMD	C	0.17%
DPZ	C	0.17%
PNW	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%
BKNG	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 63 Positions Relative to DUSL

Symbol	Grade	Weight
GE	D	-2.91%
RTX	C	-2.38%
UBER	D	-2.26%
HON	B	-2.26%
ETN	A	-2.17%
BA	F	-1.52%
DE	A	-1.52%
UPS	C	-1.46%
GEV	B	-1.35%
PH	A	-1.35%
WM	A	-1.22%
GD	F	-1.14%
EMR	A	-1.11%
TDG	D	-1.08%
NOC	D	-1.04%
CSX	B	-1.04%
FDX	B	-0.99%
CARR	D	-0.95%
PCAR	B	-0.91%
NSC	B	-0.9%
JCI	C	-0.86%
URI	B	-0.85%
GWW	B	-0.79%
CPRT	A	-0.76%
CMI	A	-0.75%
PWR	A	-0.72%
LHX	C	-0.71%
HWM	A	-0.7%
AME	A	-0.68%
AXON	A	-0.65%
RSG	A	-0.64%
IR	B	-0.63%
DAL	C	-0.63%
ODFL	B	-0.63%
VRSK	A	-0.61%
OTIS	C	-0.6%
WAB	B	-0.52%
EFX	F	-0.49%
ROK	B	-0.49%
XYL	D	-0.45%
UAL	A	-0.45%
DOV	A	-0.42%
FTV	C	-0.4%
VLTO	D	-0.38%
HUBB	B	-0.36%
LDOS	C	-0.34%
BLDR	D	-0.32%
LUV	C	-0.29%
J	F	-0.27%
EXPD	D	-0.26%
MAS	D	-0.26%
IEX	B	-0.26%
PNR	A	-0.26%
TXT	D	-0.24%
JBHT	C	-0.22%
NDSN	B	-0.21%
ROL	B	-0.21%
SWK	D	-0.2%
ALLE	D	-0.19%
DAY	B	-0.18%
GNRC	B	-0.17%
AOS	F	-0.13%
HII	D	-0.12%