QDF vs. FAZ ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Direxion Financial Bear 3X Shares (FAZ)

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

$66.98

Average Daily Volume

33,609

Number of Holdings ^*

128

* may have additional holdings in another (foreign) market

FAZ

Direxion Financial Bear 3X Shares

FAZ Description

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 1000Â® Financial Services Index. The fund, under normal circumstances, creates short positions by investing at least 80% of its assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index is a subset of the Russell 1000Â® Index that measures the performance of the securities classified in the financial services sector of the large cap U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$10.28

Average Daily Volume

2,494,425

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDF	FAZ
30 Days	3.26%	-1.09%
60 Days	5.75%	-5.91%
90 Days	4.67%	-0.81%
12 Months	18.00%	-42.20%

22 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in FAZ	Overlap
AFL	B	0.58%	0.62%	0.58%
ALLY	B	0.43%	0.19%	0.19%
AVB	B	0.56%	0.48%	0.48%
BAC	A	0.05%	4.53%	0.05%
BK	A	0.59%	0.61%	0.59%
EQR	B	0.54%	0.48%	0.48%
FIS	B	0.55%	1.44%	0.55%
HST	D	0.45%	0.2%	0.2%
JPM	A	0.66%	6.91%	0.66%
LNC	B	0.37%	0.19%	0.19%
MA	D	0.27%	4.6%	0.27%
MAA	C	0.53%	0.24%	0.24%
MET	D	0.51%	0.66%	0.51%
MS	B	0.75%	1.07%	0.75%
PFG	D	0.39%	0.25%	0.25%
PRU	A	0.56%	0.63%	0.56%
PSA	B	0.57%	0.52%	0.52%
UDR	B	0.48%	0.22%	0.22%
V	D	0.37%	5.62%	0.37%
WTW	B	0.51%	0.42%	0.42%
WU	D	0.45%	0.19%	0.19%
WY	F	0.4%	0.37%	0.37%

QDF Overweight 106 Positions Relative to FAZ

Symbol	Grade	Weight
AAPL	A	9.23%
MSFT	A	5.7%
NVDA	B	5.31%
PG	C	3.18%
JNJ	F	3.03%
ABBV	C	2.91%
META	B	2.77%
KO	B	2.56%
GOOGL	A	2.08%
CSCO	D	1.89%
GOOG	A	1.83%
ACN	C	1.78%
INTU	B	1.77%
HD	C	1.58%
LRCX	A	1.39%
UNP	D	1.27%
QCOM	B	1.26%
PM	B	1.16%
NKE	F	1.12%
LOW	D	1.11%
KLAC	B	1.07%
AVGO	B	1.05%
ADP	D	0.95%
GILD	C	0.84%
MO	A	0.79%
ZTS	C	0.79%
XOM	C	0.76%
ITW	D	0.7%
MPC	D	0.67%
CMCSA	D	0.66%
SBUX	F	0.63%
SWKS	C	0.59%
MMM	B	0.59%
PEG	A	0.56%
LMT	B	0.56%
EBAY	B	0.56%
D	C	0.54%
MCHP	C	0.54%
CPT	B	0.53%
EA	B	0.53%
PKG	C	0.53%
PAYX	D	0.51%
FAST	F	0.5%
NYT	A	0.5%
ORI	C	0.49%
SMG	D	0.49%
JHG	A	0.49%
RDN	B	0.49%
VRT	C	0.49%
OMF	C	0.48%
WSM	D	0.48%
BXMT	C	0.48%
CHRW	C	0.48%
IVZ	D	0.47%
NUE	D	0.47%
WMS	D	0.47%
BPOP	C	0.47%
STWD	C	0.46%
LYB	D	0.45%
UGI	D	0.45%
OGE	C	0.45%
TPR	C	0.45%
NSA	B	0.45%
UNH	D	0.44%
CMA	C	0.44%
CVI	F	0.44%
SNA	F	0.43%
POOL	F	0.41%
WMG	D	0.41%
FAF	D	0.41%
WDFC	F	0.4%
BTU	C	0.4%
TGNA	D	0.37%
EVRG	D	0.37%
CUBE	B	0.36%
RHI	F	0.35%
AFG	D	0.35%
CTAS	B	0.34%
APLE	D	0.34%
EIX	D	0.32%
CFR	D	0.32%
OLN	F	0.32%
HON	B	0.31%
IRDM	F	0.31%
SCCO	C	0.24%
DPZ	C	0.22%
CAT	C	0.2%
COST	A	0.2%
DDS	C	0.18%
CL	B	0.17%
MRK	C	0.16%
HRB	A	0.16%
PNW	D	0.15%
BSY	D	0.15%
RMD	D	0.15%
BRX	B	0.14%
WING	B	0.13%
WMT	A	0.07%
CVX	D	0.07%
EXP	D	0.06%
CRM	C	0.05%
VLO	C	0.05%
COP	D	0.05%
RPRX	F	0.05%
MAR	C	0.04%
BBWI	F	0.01%

QDF Underweight 75 Positions Relative to FAZ

Symbol	Grade	Weight
BRK.A	D	-7.22%
WFC	C	-3.0%
C	A	-2.84%
PYPL	D	-2.19%
AMT	B	-1.64%
AXP	C	-1.41%
USB	C	-1.27%
GS	A	-1.27%
TFC	B	-1.21%
CME	D	-1.18%
SPGI	B	-1.17%
CB	C	-1.11%
PNC	C	-1.08%
BLK	B	-1.01%
CCI	D	-0.96%
PLD	C	-0.95%
GPN	D	-0.95%
MMC	A	-0.93%
SCHW	C	-0.89%
ICE	A	-0.85%
EQIX	D	-0.8%
AON	C	-0.79%
COF	C	-0.78%
AIG	C	-0.74%
SPG	B	-0.73%
PGR	B	-0.71%
MCO	A	-0.68%
ALL	D	-0.61%
TRV	D	-0.58%
WELL	A	-0.56%
STT	C	-0.48%
TROW	C	-0.48%
SBAC	F	-0.45%
DFS	A	-0.42%
DLR	A	-0.41%
O	D	-0.4%
SQ	D	-0.38%
MSCI	C	-0.37%
SYF	B	-0.37%
AMP	B	-0.35%
VTR	A	-0.35%
HIG	C	-0.35%
NTRS	B	-0.34%
MTB	B	-0.34%
BXP	B	-0.34%
ESS	B	-0.33%
CBRE	C	-0.33%
FITB	C	-0.33%
KEY	C	-0.31%
ARE	C	-0.3%
EFX	B	-0.3%
ACGL	C	-0.28%
TRU	C	-0.28%
CFG	B	-0.28%
AJG	A	-0.28%
INVH	A	-0.26%
CINF	B	-0.26%
MKL	D	-0.26%
RF	B	-0.25%
BR	B	-0.24%
HBAN	C	-0.24%
SUI	C	-0.23%
WPC	D	-0.23%
L	D	-0.22%
MKTX	F	-0.22%
NLY	C	-0.22%
EXR	B	-0.22%
ELS	C	-0.2%
FNF	D	-0.2%
NDAQ	C	-0.2%
FICO	A	-0.19%
VNO	B	-0.19%
RJF	D	-0.19%
MPW	F	-0.18%
JKHY	C	-0.18%