QDF vs. GQRE ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to FlexShares Global Quality Real Estate Index Fund (GQRE)

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

$72.39

Average Daily Volume

26,693

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

GQRE

FlexShares Global Quality Real Estate Index Fund

GQRE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Global Quality Real Estate IndexSM. The index is designed to measure the performance of companies that exhibit certain quality, valuation and momentum characteristics within a universe of publicly-traded equity securities of U.S. and non-U.S. real estate investment trusts and real estate companies. The fund will normally invest at least 80% of its total assets in the securities of the underlying index and in "ADRs" and "GDRs" based on the securities in its underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$60.68

Average Daily Volume

18,376

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDF	GQRE
30 Days	0.21%	-0.92%
60 Days	2.38%	-2.23%
90 Days	3.47%	0.75%
12 Months	26.27%	21.78%

10 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in GQRE	Overlap
APLE	B	0.35%	0.47%	0.35%
AVB	B	0.58%	4.37%	0.58%
CPT	B	0.51%	1.73%	0.51%
CUBE	C	0.37%	1.45%	0.37%
EQR	C	0.55%	3.36%	0.55%
HST	C	0.41%	1.66%	0.41%
NNN	C	0.23%	1.04%	0.23%
NSA	C	0.49%	0.4%	0.4%
PSA	C	0.6%	0.64%	0.6%
WY	F	0.42%	0.43%	0.42%

QDF Overweight 117 Positions Relative to GQRE

Symbol	Grade	Weight
AAPL	C	8.54%
NVDA	B	5.81%
MSFT	D	4.91%
META	D	3.1%
PG	C	3.03%
JNJ	C	3.01%
ABBV	F	2.58%
KO	D	2.16%
ACN	B	1.93%
GOOGL	C	1.84%
HD	B	1.77%
INTU	B	1.74%
QCOM	F	1.68%
GOOG	C	1.63%
PM	B	1.41%
LOW	C	1.27%
UNP	C	1.24%
ADP	A	1.11%
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	F	0.83%
SBUX	A	0.76%
KLAC	F	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	B	0.63%
LMT	D	0.62%
FIS	C	0.62%
AFL	B	0.62%
PEG	A	0.61%
PRU	A	0.61%
VIRT	A	0.6%
KTB	B	0.6%
JHG	B	0.6%
D	C	0.59%
EBAY	D	0.58%
EA	A	0.58%
CMA	B	0.58%
GEN	B	0.58%
TPR	B	0.57%
MET	A	0.56%
SNA	A	0.56%
WTW	B	0.56%
ORI	A	0.55%
CHRW	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%
IVZ	B	0.51%
OGE	A	0.51%
XOM	B	0.5%
SMG	C	0.5%
RDN	D	0.49%
STWD	C	0.49%
UGI	C	0.49%
BPOP	C	0.48%
WDFC	B	0.47%
FAF	A	0.47%
DVN	F	0.46%
MRK	D	0.45%
IPG	D	0.45%
MCHP	F	0.45%
WU	F	0.45%
POOL	C	0.44%
WSM	C	0.43%
TT	A	0.43%
CFR	B	0.42%
NUE	C	0.42%
EVRG	A	0.42%
SWKS	F	0.4%
V	A	0.4%
CTAS	B	0.39%
LNC	C	0.39%
PFG	D	0.39%
RHI	C	0.38%
ALLY	C	0.37%
SCCO	F	0.36%
WMS	F	0.36%
EIX	B	0.34%
IRDM	D	0.31%
NEP	F	0.3%
BR	A	0.3%
MA	B	0.26%
OLN	F	0.25%
COST	A	0.24%
NTAP	C	0.22%
WING	D	0.2%
HRB	D	0.17%
RMD	C	0.17%
DPZ	C	0.17%
PNW	A	0.16%
PAYC	B	0.16%
CL	D	0.15%
COR	B	0.14%
WMT	A	0.13%
BSY	F	0.13%
EXP	B	0.08%
WFRD	D	0.07%
CSWI	B	0.07%
BKNG	A	0.07%
MAR	A	0.05%
COP	C	0.04%
STNG	F	0.02%
BAC	A	0.02%
BBWI	C	0.01%

QDF Underweight 53 Positions Relative to GQRE

Symbol	Grade	Weight
SPG	A	-5.85%
DLR	B	-5.76%
PLD	F	-2.99%
ESS	B	-2.62%
VICI	C	-2.46%
AMT	C	-2.37%
KIM	A	-2.25%
UDR	B	-1.88%
EQIX	A	-1.74%
AMH	C	-1.67%
REG	A	-1.59%
LAMR	C	-1.5%
WELL	A	-1.42%
ADC	A	-1.02%
FR	D	-0.94%
VNO	C	-0.91%
STAG	D	-0.89%
KRG	B	-0.8%
EPRT	B	-0.77%
IRM	C	-0.69%
SLG	B	-0.66%
CUZ	B	-0.64%
IRT	A	-0.63%
KRC	B	-0.6%
SBRA	C	-0.57%
SKT	A	-0.52%
HIW	C	-0.46%
EPR	C	-0.45%
NHI	D	-0.45%
BNL	D	-0.43%
PK	C	-0.42%
HASI	D	-0.42%
O	C	-0.41%
IIPR	D	-0.4%
UE	B	-0.38%
AKR	B	-0.35%
IVT	A	-0.3%
EQC	B	-0.29%
LTC	B	-0.28%
SHO	D	-0.28%
XHR	B	-0.28%
DBRG	F	-0.28%
AAT	B	-0.26%
ALEX	B	-0.26%
DRH	B	-0.26%
PDM	D	-0.26%
ESRT	C	-0.26%
CSR	B	-0.24%
JOE	F	-0.24%
RLJ	C	-0.24%
NXRT	B	-0.24%
CCI	C	-0.19%
HPP	F	-0.16%