QDF vs. TMAT ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Main Thematic Innovation ETF (TMAT)

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

$71.33

Average Daily Volume

45,847

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

TMAT

Main Thematic Innovation ETF

TMAT Description

The investment seeks to outperform the MSCI ACWI Index® in rising markets while limiting losses during periods of decline. The adviser seeks to achieve its objective through dynamic thematic rotation. The Adviser focuses its research primarily on identifying emerging, disruptive, and innovative themes that have a large market demand or addressable market. The Adviser rotates among themes with large addressable markets which may range from nascent technologies to those on the cusp of widespread adoption and buys securities of ETFs investing in those themes.

Grade (RS Rating)

Last Trade

$17.87

Average Daily Volume

17,304

Number of Holdings ^*

112

* may have additional holdings in another (foreign) market

Performance

Period	QDF	TMAT
30 Days	3.71%	10.31%
60 Days	9.65%	15.51%
90 Days	6.61%	2.00%
12 Months	31.89%	34.66%

12 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in TMAT	Overlap
AVGO	B	0.91%	1.44%	0.91%
EA	D	0.51%	0.64%	0.51%
GOOG	B	1.55%	0.55%	0.55%
IRDM	C	0.35%	0.67%	0.35%
KLAC	B	0.96%	1.31%	0.96%
LRCX	D	1.01%	0.46%	0.46%
META	A	3.23%	3.16%	3.16%
NTAP	D	0.23%	0.61%	0.23%
NVDA	B	4.97%	4.12%	4.12%
PAYC	D	0.12%	0.65%	0.12%
UNP	F	1.3%	0.68%	0.68%
VRT	B	0.7%	0.77%	0.7%

QDF Overweight 115 Positions Relative to TMAT

Symbol	Grade	Weight
AAPL	C	8.57%
MSFT	D	4.98%
JNJ	D	3.17%
ABBV	C	3.08%
PG	D	3.08%
KO	C	2.51%
ACN	B	1.97%
HD	A	1.79%
GOOGL	B	1.76%
QCOM	D	1.73%
INTU	F	1.57%
LOW	C	1.29%
PM	D	1.29%
ADP	A	1.07%
GILD	A	0.96%
NKE	D	0.93%
MO	D	0.81%
ZTS	C	0.81%
CAT	A	0.78%
MS	A	0.78%
SBUX	B	0.73%
ITW	C	0.72%
LMT	A	0.71%
MMM	C	0.69%
AFL	A	0.64%
PSA	C	0.64%
JPM	C	0.64%
PEG	A	0.63%
PAYX	B	0.63%
EBAY	A	0.62%
BK	A	0.62%
D	A	0.6%
FIS	A	0.59%
SMG	C	0.59%
FAST	C	0.59%
PRU	B	0.58%
AVB	C	0.57%
NXPI	F	0.56%
MPC	D	0.56%
MCHP	F	0.55%
MAA	D	0.55%
EQR	C	0.55%
MET	A	0.55%
NSA	D	0.54%
GEN	A	0.54%
CHRW	C	0.54%
IVZ	A	0.53%
VLO	F	0.53%
WTW	C	0.53%
KTB	C	0.53%
OHI	C	0.53%
ORI	A	0.52%
VIRT	B	0.52%
CPT	C	0.52%
MRK	F	0.52%
XOM	A	0.51%
NEP	D	0.51%
IPG	D	0.51%
JHG	A	0.51%
RDN	D	0.5%
OGE	C	0.5%
CMA	C	0.5%
WU	D	0.5%
STWD	C	0.5%
WSM	C	0.49%
UGI	C	0.49%
FAF	C	0.48%
DVN	F	0.48%
SWKS	F	0.47%
BPOP	D	0.47%
SNA	C	0.46%
POOL	D	0.46%
WY	C	0.46%
TPR	B	0.46%
WDFC	B	0.44%
OMF	D	0.43%
WMS	D	0.43%
NUE	D	0.43%
HST	D	0.42%
SCCO	B	0.42%
EVRG	C	0.41%
TT	A	0.41%
CUBE	C	0.4%
PFG	A	0.39%
CTAS	C	0.38%
ALLY	F	0.36%
V	B	0.36%
RHI	D	0.35%
LNC	B	0.35%
EIX	C	0.35%
APLE	B	0.34%
CFR	B	0.33%
OLN	D	0.29%
BR	B	0.29%
NNN	C	0.27%
WING	C	0.26%
MA	A	0.25%
COST	C	0.23%
HRB	C	0.18%
CL	D	0.17%
DPZ	D	0.17%
RMD	C	0.17%
PNW	C	0.16%
BSY	D	0.14%
WMT	A	0.12%
COR	F	0.12%
EXP	C	0.08%
WFRD	F	0.07%
BKNG	B	0.06%
CSWI	A	0.06%
MAR	A	0.04%
COP	D	0.04%
BAC	B	0.02%
STNG	B	0.02%
BBWI	F	0.01%

QDF Underweight 100 Positions Relative to TMAT

Symbol	Grade	Weight
TSM	B	-3.37%
APP	A	-2.06%
TXN	C	-1.98%
AFRM	C	-1.9%
MU	D	-1.8%
ARM	C	-1.78%
HOOD	B	-1.37%
GLBE	C	-1.34%
ANSS	D	-1.27%
KTOS	B	-1.27%
RKLB	B	-1.13%
APLD	C	-1.12%
MKSI	F	-1.11%
STM	F	-1.1%
BILI	B	-0.96%
COIN	F	-0.96%
CDNA	B	-0.96%
NIO	C	-0.93%
FLNC	C	-0.89%
TDG	A	-0.78%
FOUR	A	-0.78%
BLND	C	-0.76%
GENI	C	-0.75%
PRCT	D	-0.75%
CSL	A	-0.74%
HUYA	B	-0.73%
NTNX	C	-0.73%
ONTO	B	-0.72%
ACVA	C	-0.71%
FSLR	C	-0.71%
EME	B	-0.71%
RDNT	C	-0.7%
DKNG	C	-0.7%
IBKR	A	-0.69%
CPAY	A	-0.69%
VTEX	C	-0.68%
EBR	F	-0.67%
BRKR	D	-0.67%
WK	D	-0.67%
ON	F	-0.66%
WULF	C	-0.66%
GERN	D	-0.65%
APH	D	-0.65%
LYFT	D	-0.64%
LPRO	D	-0.64%
CPRT	B	-0.64%
ASND	C	-0.64%
DLR	C	-0.63%
PCTY	C	-0.63%
LCID	F	-0.63%
BAH	C	-0.63%
DLO	D	-0.63%
ICE	A	-0.62%
WDC	C	-0.62%
HRI	B	-0.62%
HQY	B	-0.62%
ARE	D	-0.61%
PLUG	D	-0.6%
TTWO	D	-0.6%
ZD	D	-0.6%
UTHR	C	-0.6%
PAY	D	-0.6%
SYK	C	-0.6%
BMI	A	-0.6%
PDD	B	-0.6%
EVTC	D	-0.6%
DLB	D	-0.59%
ENPH	F	-0.58%
QLYS	F	-0.58%
LNW	F	-0.57%
AMAT	C	-0.57%
MQ	F	-0.57%
ABNB	D	-0.57%
IREN	C	-0.57%
IBTA	C	-0.56%
AMSC	C	-0.56%
FLYW	F	-0.55%
SWTX	F	-0.54%
FORM	D	-0.54%
CRSR	D	-0.53%
APPF	C	-0.52%
PSTG	F	-0.52%
CRSP	F	-0.5%
SRPT	F	-0.49%
LLY	D	-0.49%
KRYS	D	-0.49%
CFLT	F	-0.48%
HIMS	C	-0.47%
SMCI	F	-0.47%
SPT	F	-0.47%
BE	F	-0.45%
LMND	F	-0.45%
RCKT	F	-0.43%
RIVN	F	-0.43%
ACHR	F	-0.42%
PUBM	F	-0.41%
PAGS	F	-0.41%
CLSK	F	-0.38%
LAZR	F	-0.33%
JMIA	D	-0.26%