QDF vs. SKF ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to ProShares UltraShort Financials (SKF)

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

$73.22

Average Daily Volume

26,189

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

SKF

ProShares UltraShort Financials

SKF Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. FinancialsSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times the inverse (-2x) of the daily return of the index. The index measures the performance of the financial services sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.04

Average Daily Volume

12,956

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDF	SKF
30 Days	2.59%	-17.16%
60 Days	2.59%	-22.31%
90 Days	4.61%	-23.05%
12 Months	27.53%	-49.75%

20 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in SKF	Overlap
AFL	B	0.62%	0.66%	0.62%
ALLY	C	0.37%	0.19%	0.19%
AVB	B	0.58%	0.51%	0.51%
BAC	A	0.02%	4.46%	0.02%
BK	A	0.68%	0.65%	0.65%
CPT	B	0.51%	0.18%	0.18%
EQR	B	0.55%	0.48%	0.48%
HST	C	0.41%	0.22%	0.22%
JPM	B	0.75%	7.27%	0.75%
LNC	B	0.39%	0.2%	0.2%
MA	B	0.26%	4.83%	0.26%
MAA	B	0.55%	0.26%	0.26%
MET	A	0.56%	0.69%	0.56%
MS	B	0.98%	1.19%	0.98%
PFG	C	0.39%	0.25%	0.25%
PRU	A	0.61%	0.66%	0.61%
PSA	C	0.6%	0.56%	0.56%
V	A	0.4%	5.88%	0.4%
WTW	B	0.56%	0.44%	0.44%
WY	D	0.42%	0.39%	0.39%

QDF Overweight 107 Positions Relative to SKF

Symbol	Grade	Weight
AAPL	B	8.54%
NVDA	C	5.81%
MSFT	D	4.91%
META	D	3.1%
PG	A	3.03%
JNJ	D	3.01%
ABBV	D	2.58%
KO	D	2.16%
ACN	B	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	C	1.27%
UNP	C	1.24%
ADP	B	1.11%
GILD	B	1.0%
MO	A	0.89%
AVGO	D	0.88%
LRCX	F	0.87%
VRT	B	0.83%
NKE	F	0.83%
SBUX	B	0.76%
KLAC	F	0.76%
CAT	B	0.75%
ZTS	D	0.74%
ITW	A	0.74%
FAST	B	0.68%
MMM	D	0.65%
PAYX	B	0.63%
LMT	D	0.62%
FIS	D	0.62%
PEG	A	0.61%
VIRT	B	0.6%
KTB	A	0.6%
JHG	A	0.6%
D	C	0.59%
EBAY	C	0.58%
EA	C	0.58%
CMA	A	0.58%
GEN	A	0.58%
TPR	A	0.57%
SNA	A	0.56%
ORI	A	0.55%
CHRW	C	0.55%
VLO	C	0.55%
MPC	F	0.54%
NXPI	D	0.52%
OMF	A	0.52%
OHI	D	0.52%
IVZ	B	0.51%
OGE	A	0.51%
XOM	C	0.5%
SMG	C	0.5%
RDN	C	0.49%
STWD	C	0.49%
UGI	A	0.49%
NSA	C	0.49%
BPOP	B	0.48%
WDFC	B	0.47%
FAF	B	0.47%
DVN	F	0.46%
MRK	F	0.45%
IPG	C	0.45%
MCHP	F	0.45%
WU	D	0.45%
POOL	C	0.44%
WSM	B	0.43%
TT	B	0.43%
CFR	B	0.42%
NUE	D	0.42%
EVRG	A	0.42%
SWKS	F	0.4%
CTAS	B	0.39%
RHI	C	0.38%
CUBE	D	0.37%
SCCO	F	0.36%
WMS	F	0.36%
APLE	B	0.35%
EIX	A	0.34%
IRDM	C	0.31%
NEP	F	0.3%
BR	A	0.3%
OLN	F	0.25%
COST	B	0.24%
NNN	D	0.23%
NTAP	C	0.22%
WING	F	0.2%
HRB	D	0.17%
RMD	C	0.17%
DPZ	C	0.17%
PNW	B	0.16%
PAYC	A	0.16%
CL	D	0.15%
COR	C	0.14%
WMT	B	0.13%
BSY	D	0.13%
EXP	B	0.08%
WFRD	F	0.07%
CSWI	A	0.07%
BKNG	B	0.07%
MAR	A	0.05%
COP	D	0.04%
STNG	F	0.02%
BBWI	C	0.01%

QDF Underweight 77 Positions Relative to SKF

Symbol	Grade	Weight
BRK.A	B	-7.56%
WFC	A	-3.19%
C	A	-2.98%
AMT	D	-1.74%
AXP	A	-1.49%
GS	B	-1.34%
USB	A	-1.32%
TFC	B	-1.27%
CME	A	-1.25%
SPGI	C	-1.22%
CB	D	-1.17%
PNC	A	-1.13%
BLK	C	-1.06%
CCI	D	-1.02%
PLD	D	-1.0%
MMC	A	-0.97%
SCHW	A	-0.93%
ICE	D	-0.91%
EQIX	A	-0.84%
AON	A	-0.83%
COF	B	-0.81%
AIG	B	-0.77%
SPG	C	-0.76%
PGR	A	-0.75%
MCO	A	-0.7%
BX	B	-0.67%
ALL	B	-0.64%
TRV	B	-0.61%
WELL	C	-0.59%
TROW	A	-0.52%
STT	A	-0.5%
SBAC	D	-0.48%
DLR	A	-0.44%
DFS	B	-0.44%
O	D	-0.42%
MSCI	C	-0.4%
CSGP	C	-0.4%
NTRS	A	-0.39%
AMP	B	-0.37%
VTR	D	-0.37%
HIG	B	-0.37%
SYF	A	-0.36%
MTB	B	-0.36%
FITB	B	-0.35%
BXP	D	-0.34%
CBRE	B	-0.34%
ESS	B	-0.34%
ARE	D	-0.32%
KEY	A	-0.32%
ACGL	D	-0.31%
CFG	B	-0.3%
DOC	C	-0.3%
AJG	A	-0.3%
INVH	D	-0.28%
MKL	A	-0.28%
RF	B	-0.27%
CINF	A	-0.27%
HBAN	B	-0.26%
MKTX	D	-0.24%
WPC	D	-0.24%
SUI	D	-0.24%
EXR	C	-0.24%
L	B	-0.23%
NLY	B	-0.23%
UDR	B	-0.23%
ELS	C	-0.22%
FNF	B	-0.22%
NDAQ	A	-0.21%
RJF	A	-0.2%
EG	C	-0.19%
MPW	F	-0.19%
EQH	B	-0.19%
GL	C	-0.18%
FDS	B	-0.18%
REG	B	-0.18%
VNO	B	-0.18%
WRB	A	-0.17%