QDF vs. SPMV ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Invesco S&P 500 Minimum Variance ETF (SPMV)

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

$71.36

Average Daily Volume

47,021

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

SPMV

Invesco S&P 500 Minimum Variance ETF

SPMV Description

The investment seeks to track the investment results (before fees and expenses) of the S&P 500® Minimum Volatility Index (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to measure the performance of a subset of constituent securities of the S&P 500 Index using a managed volatility equity strategy that seeks to achieve lower total volatility than the S&P 500 ® Index, while maintaining other similar characteristics of the S&P 500 ® Index.

Grade (RS Rating)

Last Trade

$46.66

Average Daily Volume

433

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDF	SPMV
30 Days	2.35%	2.30%
60 Days	5.23%	5.91%
90 Days	7.81%	7.21%
12 Months	30.55%	30.07%

18 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in SPMV	Overlap
AAPL	C	8.55%	2.27%	2.27%
ACN	C	1.86%	0.3%	0.3%
AVGO	C	0.93%	0.96%	0.93%
D	C	0.58%	0.41%	0.41%
GOOG	D	1.51%	0.5%	0.5%
HD	B	1.73%	2.55%	1.73%
INTU	D	1.64%	1.92%	1.64%
JNJ	C	3.18%	0.06%	0.06%
JPM	D	0.65%	0.51%	0.51%
META	B	3.16%	0.71%	0.71%
MRK	F	0.53%	2.04%	0.53%
MSFT	C	5.1%	2.93%	2.93%
NVDA	C	5.03%	3.17%	3.17%
PG	C	3.09%	2.89%	2.89%
QCOM	D	1.71%	1.9%	1.71%
RMD	C	0.18%	0.67%	0.18%
XOM	D	0.49%	0.31%	0.31%
ZTS	B	0.81%	0.07%	0.07%

QDF Overweight 107 Positions Relative to SPMV

Symbol	Grade	Weight
ABBV	B	3.01%
KO	B	2.51%
GOOGL	D	1.71%
UNP	D	1.33%
PM	C	1.3%
LOW	B	1.25%
ADP	C	1.04%
LRCX	D	0.98%
NKE	D	0.98%
GILD	B	0.95%
KLAC	D	0.95%
MO	C	0.81%
CAT	B	0.76%
MS	B	0.76%
ITW	B	0.71%
SBUX	C	0.71%
MMM	B	0.69%
LMT	A	0.67%
VRT	C	0.66%
PSA	C	0.65%
EBAY	B	0.62%
BK	B	0.62%
AFL	A	0.61%
FAST	C	0.6%
PAYX	C	0.6%
PEG	B	0.6%
FIS	C	0.59%
PRU	C	0.58%
AVB	C	0.58%
MAA	C	0.57%
NSA	C	0.56%
EQR	C	0.56%
OHI	C	0.55%
SMG	B	0.55%
MPC	F	0.55%
NXPI	D	0.55%
MCHP	D	0.54%
CPT	C	0.54%
MET	B	0.54%
CHRW	B	0.54%
STWD	B	0.53%
IVZ	B	0.52%
WTW	B	0.52%
VIRT	C	0.52%
KTB	B	0.52%
JHG	B	0.52%
NEP	C	0.51%
IPG	C	0.51%
ORI	B	0.51%
VLO	F	0.51%
CMA	C	0.51%
UGI	B	0.5%
RDN	D	0.5%
EA	D	0.5%
BPOP	C	0.5%
WU	C	0.5%
DVN	F	0.49%
WSM	C	0.49%
OGE	B	0.49%
FAF	B	0.47%
SWKS	F	0.47%
TPR	A	0.46%
POOL	C	0.46%
WY	C	0.46%
SNA	B	0.45%
HST	D	0.44%
WDFC	C	0.43%
NUE	D	0.43%
OMF	D	0.43%
WMS	D	0.42%
EVRG	B	0.41%
TT	B	0.41%
CUBE	C	0.41%
SCCO	C	0.4%
PFG	B	0.39%
CTAS	C	0.37%
EIX	B	0.35%
APLE	C	0.35%
RHI	D	0.35%
V	C	0.35%
ALLY	F	0.35%
LNC	C	0.35%
CFR	C	0.34%
IRDM	C	0.32%
OLN	D	0.28%
BR	C	0.28%
WING	C	0.26%
NNN	B	0.26%
MA	B	0.25%
COST	C	0.24%
NTAP	D	0.23%
HRB	C	0.18%
DPZ	D	0.17%
CL	C	0.17%
PNW	C	0.15%
BSY	C	0.14%
PAYC	D	0.13%
WMT	B	0.12%
EXP	B	0.08%
WFRD	F	0.07%
CSWI	B	0.06%
BKNG	B	0.06%
MAR	B	0.04%
COP	F	0.04%
STNG	D	0.02%
BAC	D	0.02%
BBWI	D	0.01%

QDF Underweight 61 Positions Relative to SPMV

Symbol	Grade	Weight
NEE	B	-3.99%
PGR	C	-3.5%
ORCL	B	-3.36%
BRK.A	C	-3.06%
MMC	C	-2.97%
AMZN	C	-2.95%
CB	B	-2.85%
MDLZ	C	-2.81%
LLY	D	-2.74%
TMUS	B	-2.25%
ABT	C	-2.18%
VZ	A	-2.12%
AJG	D	-2.03%
ADBE	F	-2.0%
PFE	D	-1.92%
AON	B	-1.87%
ELV	D	-1.86%
VRTX	D	-1.82%
AEP	C	-1.8%
GIS	B	-1.79%
CRM	C	-1.5%
CCI	C	-1.42%
CEG	C	-1.41%
SRE	B	-1.39%
ALL	C	-1.21%
ADM	D	-1.21%
HSY	D	-1.2%
NOW	C	-1.13%
SNPS	F	-1.12%
REGN	D	-0.98%
MKC	C	-0.89%
AIG	D	-0.82%
MDT	B	-0.8%
RSG	D	-0.79%
ACGL	B	-0.77%
IDXX	D	-0.75%
WRB	D	-0.73%
ISRG	C	-0.72%
AMGN	D	-0.66%
CSCO	B	-0.59%
KHC	C	-0.53%
T	B	-0.5%
AES	C	-0.49%
RTX	B	-0.44%
BMY	C	-0.43%
MRNA	F	-0.43%
TFC	D	-0.42%
TRV	C	-0.41%
HRL	F	-0.4%
EL	D	-0.37%
SJM	C	-0.3%
ES	B	-0.28%
K	A	-0.26%
BDX	D	-0.14%
CAG	B	-0.12%
DUK	B	-0.1%
MTD	C	-0.09%
CDNS	D	-0.06%
ROL	C	-0.06%
PODD	C	-0.04%
XEL	B	-0.03%