QDF vs. RAFE ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to PIMCO RAFI ESG U.S. ETF (RAFE)

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

RAFE

PIMCO RAFI ESG U.S. ETF

RAFE Description

The investment seeks to provide total return that closely corresponds, before fees and expenses, to the total return of the RAFI ESG US Index. The fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its total assets in the component securities of the RAFI ESG US Index. The underlying index is constructed by RAFI Indices, LLC using a rules-based approach within publicly traded U.S. equities to create an integrated ESG strategy which overweights companies that rate well across various ESG themes and excludes companies with a major involvement in industries such as tobacco, gaming, weapons and fossil fuels.

Grade (RS Rating)

Last Trade

$37.82

Average Daily Volume

12,485

Number of Holdings ^*

238

* may have additional holdings in another (foreign) market

Performance

Period	QDF	RAFE
30 Days	1.66%	1.92%
60 Days	2.62%	3.06%
90 Days	4.00%	4.90%
12 Months	26.92%	24.12%

50 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in RAFE	Overlap
AAPL	C	8.54%	6.52%	6.52%
ABBV	D	2.58%	1.53%	1.53%
ACN	C	1.93%	0.97%	0.97%
ADP	B	1.11%	0.45%	0.45%
AVB	B	0.58%	0.16%	0.16%
AVGO	D	0.88%	1.26%	0.88%
BAC	A	0.02%	0.86%	0.02%
BK	A	0.68%	0.19%	0.19%
CL	D	0.15%	0.37%	0.15%
COR	B	0.14%	0.13%	0.13%
EA	A	0.58%	0.31%	0.31%
EBAY	D	0.58%	0.41%	0.41%
EIX	B	0.34%	0.25%	0.25%
EQR	B	0.55%	0.16%	0.16%
FAST	B	0.68%	0.13%	0.13%
FIS	C	0.62%	0.36%	0.36%
GEN	B	0.58%	0.04%	0.04%
GILD	C	1.0%	0.99%	0.99%
HD	A	1.77%	1.77%	1.77%
HST	C	0.41%	0.11%	0.11%
ITW	B	0.74%	0.31%	0.31%
JNJ	D	3.01%	3.18%	3.01%
JPM	A	0.75%	4.09%	0.75%
KLAC	D	0.76%	0.21%	0.21%
KO	D	2.16%	0.98%	0.98%
LNC	B	0.39%	0.08%	0.08%
LOW	D	1.27%	1.14%	1.14%
LRCX	F	0.87%	0.5%	0.5%
MA	C	0.26%	0.79%	0.26%
MAA	B	0.55%	0.07%	0.07%
MAR	B	0.05%	0.28%	0.05%
MCHP	D	0.45%	0.06%	0.06%
MET	A	0.56%	0.7%	0.56%
META	D	3.1%	1.2%	1.2%
MMM	D	0.65%	1.07%	0.65%
MRK	F	0.45%	1.69%	0.45%
MSFT	F	4.91%	5.72%	4.91%
NKE	D	0.83%	0.48%	0.48%
NTAP	C	0.22%	0.29%	0.22%
NVDA	C	5.81%	1.12%	1.12%
PAYX	C	0.63%	0.11%	0.11%
PFG	D	0.39%	0.2%	0.2%
PG	A	3.03%	2.84%	2.84%
PRU	A	0.61%	0.51%	0.51%
QCOM	F	1.68%	1.6%	1.6%
TPR	B	0.57%	0.16%	0.16%
V	A	0.4%	1.09%	0.4%
WU	D	0.45%	0.04%	0.04%
WY	D	0.42%	0.26%	0.26%
ZTS	D	0.74%	0.14%	0.14%

QDF Overweight 77 Positions Relative to RAFE

Symbol	Grade	Weight
GOOGL	C	1.84%
INTU	C	1.74%
GOOG	C	1.63%
PM	B	1.41%
UNP	C	1.24%
MS	A	0.98%
MO	A	0.89%
VRT	B	0.83%
SBUX	A	0.76%
CAT	B	0.75%
LMT	D	0.62%
AFL	B	0.62%
PEG	A	0.61%
VIRT	B	0.6%
KTB	B	0.6%
JHG	A	0.6%
PSA	D	0.6%
D	C	0.59%
CMA	A	0.58%
SNA	A	0.56%
WTW	B	0.56%
ORI	A	0.55%
CHRW	C	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%
IPG	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%
SWKS	F	0.4%
CTAS	B	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%
IRDM	D	0.31%
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%
RMD	C	0.17%
DPZ	C	0.17%
PNW	B	0.16%
PAYC	B	0.16%
WMT	A	0.13%
BSY	D	0.13%
EXP	A	0.08%
WFRD	D	0.07%
CSWI	A	0.07%
BKNG	A	0.07%
COP	C	0.04%
STNG	F	0.02%
BBWI	D	0.01%

QDF Underweight 188 Positions Relative to RAFE

Symbol	Grade	Weight
C	A	-3.25%
CSCO	B	-2.94%
INTC	D	-2.85%
WFC	A	-2.82%
T	A	-2.41%
PFE	D	-2.32%
GM	B	-2.16%
BMY	B	-1.97%
IBM	C	-1.81%
VZ	C	-1.69%
ORCL	B	-1.68%
CMCSA	B	-1.55%
CI	F	-1.3%
DIS	B	-1.2%
TGT	F	-1.18%
ABT	B	-1.18%
F	C	-1.14%
LIN	D	-1.12%
AMGN	D	-1.08%
GS	A	-0.98%
MU	D	-0.95%
ELV	F	-0.89%
TXN	C	-0.83%
AMAT	F	-0.81%
HPQ	B	-0.72%
BLK	C	-0.71%
HPE	B	-0.7%
LLY	F	-0.67%
AXP	A	-0.63%
ADBE	C	-0.63%
PYPL	B	-0.62%
DD	D	-0.59%
ALL	A	-0.58%
UNH	C	-0.58%
CRM	B	-0.58%
JCI	C	-0.55%
UPS	C	-0.54%
DE	A	-0.54%
BBY	D	-0.5%
DOW	F	-0.5%
TSLA	B	-0.49%
TJX	A	-0.49%
NEM	D	-0.46%
DHR	F	-0.46%
TMUS	B	-0.46%
FDX	B	-0.45%
WM	A	-0.44%
IP	B	-0.43%
MCK	B	-0.43%
APD	A	-0.42%
HUM	C	-0.41%
CVS	D	-0.4%
WDC	D	-0.37%
ADI	D	-0.37%
CARR	D	-0.37%
CBRE	B	-0.37%
WELL	A	-0.33%
ADM	D	-0.33%
GIS	D	-0.32%
BDX	F	-0.32%
KMB	D	-0.3%
MDLZ	F	-0.29%
CAH	B	-0.29%
PEP	F	-0.28%
FI	A	-0.28%
HIG	B	-0.27%
BIIB	F	-0.27%
GEHC	F	-0.27%
CCI	D	-0.27%
STT	A	-0.26%
ECL	D	-0.26%
PGR	A	-0.25%
AMP	A	-0.25%
SYY	B	-0.24%
EQIX	A	-0.24%
VTR	C	-0.23%
OC	A	-0.22%
MSI	B	-0.21%
LUMN	C	-0.21%
WHR	B	-0.21%
CMI	A	-0.21%
JLL	D	-0.21%
PARA	C	-0.2%
KHC	F	-0.2%
PPG	F	-0.2%
LH	C	-0.19%
JNPR	F	-0.19%
IRM	D	-0.19%
FOXA	B	-0.19%
MOS	F	-0.19%
AMT	D	-0.19%
K	A	-0.18%
BAX	D	-0.18%
CTSH	B	-0.18%
VFC	C	-0.18%
DVA	B	-0.17%
GWW	B	-0.17%
CF	B	-0.16%
BALL	D	-0.16%
MCO	B	-0.16%
EW	C	-0.16%
PKG	A	-0.15%
ARW	D	-0.15%
DG	F	-0.15%
HLT	A	-0.15%
SHW	A	-0.15%
A	D	-0.15%
KDP	D	-0.14%
AWK	D	-0.14%
ISRG	A	-0.14%
OMC	C	-0.14%
KSS	F	-0.14%
CDNS	B	-0.13%
FITB	A	-0.13%
CNC	D	-0.13%
MRVL	B	-0.13%
DELL	C	-0.13%
OTIS	C	-0.12%
TROW	B	-0.12%
EL	F	-0.12%
SYK	C	-0.12%
IFF	D	-0.12%
HOLX	D	-0.11%
WAT	B	-0.11%
TSCO	D	-0.11%
SWK	D	-0.11%
BSX	B	-0.11%
GAP	C	-0.11%
PVH	C	-0.11%
ON	D	-0.1%
KEYS	A	-0.1%
SPGI	C	-0.1%
LKQ	D	-0.09%
WAB	B	-0.09%
SOLV	C	-0.09%
HCA	F	-0.09%
WBA	F	-0.09%
VTRS	A	-0.09%
AVT	C	-0.09%
SJM	D	-0.09%
USFD	A	-0.09%
NFLX	A	-0.09%
TER	D	-0.09%
CDW	F	-0.09%
ILMN	D	-0.08%
SNPS	B	-0.08%
GPC	D	-0.08%
PLD	D	-0.08%
DOX	D	-0.08%
LEA	D	-0.08%
DXC	B	-0.07%
DGX	A	-0.07%
KIM	A	-0.07%
NDAQ	A	-0.07%
CHD	B	-0.07%
HUN	F	-0.07%
CAG	D	-0.07%
AKAM	D	-0.07%
TSN	B	-0.07%
NTRS	A	-0.07%
NWSA	B	-0.07%
DOV	A	-0.06%
KD	B	-0.06%
HSY	F	-0.06%
HSIC	B	-0.06%
EQH	B	-0.06%
GT	C	-0.06%
AMD	F	-0.06%
ESS	B	-0.05%
MHK	D	-0.05%
XRX	F	-0.05%
HAS	D	-0.05%
CTVA	C	-0.05%
FL	F	-0.05%
CPB	D	-0.05%
ORLY	B	-0.05%
ROK	B	-0.05%
AAP	C	-0.04%
OGN	D	-0.04%
AGCO	D	-0.04%
NWL	B	-0.04%
FLEX	A	-0.04%
RSG	A	-0.04%
MAN	D	-0.03%
M	D	-0.03%
O	D	-0.02%
ANET	C	-0.02%
HRL	D	-0.01%