QLV vs. TCAF ETF Comparison

Comparison of FlexShares US Quality Low Volatility Index Fund (QLV) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF (TCAF)

QLV

FlexShares US Quality Low Volatility Index Fund

QLV Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Developed Markets ex-US Quality Low Volatility IndexSM. The underlying index is designed to reflect the performance of a selection of companies that, in aggregate, possess lower overall absolute volatility characteristics relative to a broad universe of securities domiciled in developed market countries, excluding the U.S. The fund will 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 the underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$67.22

Average Daily Volume

10,357

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

TCAF

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF

TCAF Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in equity securities. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The fund may at times invest significantly in certain sectors, including the information technology and healthcare sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$33.89

Average Daily Volume

565,915

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QLV	TCAF
30 Days	0.23%	1.74%
60 Days	1.42%	2.92%
90 Days	3.24%	3.99%
12 Months	25.29%	28.41%

28 Overlapping Holdings

Symbol	Grade	Weight in QLV	Weight in TCAF	Overlap
AAPL	C	5.17%	5.34%	5.17%
ABBV	D	0.96%	0.67%	0.67%
ABT	B	0.93%	1.24%	0.93%
AEE	A	0.58%	1.91%	0.58%
AMZN	C	2.41%	4.51%	2.41%
AVGO	D	0.38%	1.39%	0.38%
CME	A	0.94%	0.24%	0.24%
CMS	C	0.54%	0.82%	0.54%
GOOGL	C	0.88%	3.12%	0.88%
LIN	D	0.19%	1.24%	0.19%
LLY	F	2.31%	1.5%	1.5%
MCD	D	1.93%	0.78%	0.78%
MCK	B	0.35%	1.05%	0.35%
META	D	1.25%	2.3%	1.25%
MMC	B	0.05%	0.98%	0.05%
MSFT	F	7.68%	8.23%	7.68%
NOC	D	0.59%	1.18%	0.59%
NVDA	C	5.54%	6.12%	5.54%
ROP	B	0.13%	1.74%	0.13%
RSG	A	0.59%	0.44%	0.44%
SCI	B	0.54%	0.68%	0.54%
TYL	B	0.8%	0.06%	0.06%
UNH	C	0.07%	2.95%	0.07%
V	A	2.26%	1.44%	1.44%
WCN	A	0.58%	1.64%	0.58%
WEC	A	0.86%	0.12%	0.12%
WTW	B	0.85%	0.21%	0.21%
XEL	A	0.64%	0.11%	0.11%

QLV Overweight 86 Positions Relative to TCAF

Symbol	Grade	Weight
PG	A	3.25%
MRK	F	2.28%
IBM	C	1.82%
JNJ	D	1.71%
VZ	C	1.64%
T	A	1.51%
PEP	F	1.47%
XOM	B	1.15%
TMUS	B	1.13%
GILD	C	1.07%
LMT	D	1.06%
ADP	B	0.92%
DUK	C	0.9%
QLYS	C	0.88%
ATR	B	0.86%
AIZ	A	0.86%
TXN	C	0.84%
PSA	D	0.84%
RGLD	C	0.83%
WDFC	B	0.8%
ED	D	0.79%
K	A	0.77%
DOX	D	0.74%
CHE	D	0.73%
GIS	D	0.72%
CHKP	D	0.72%
AMGN	D	0.71%
LSTR	D	0.71%
CB	C	0.71%
SO	D	0.69%
DLR	B	0.68%
TRV	B	0.67%
QGEN	D	0.67%
WM	A	0.67%
DTM	B	0.67%
ZM	B	0.67%
CALM	A	0.65%
EQIX	A	0.64%
ALL	A	0.63%
AVY	D	0.63%
PKG	A	0.63%
GOOG	C	0.62%
CINF	A	0.6%
SMMT	D	0.59%
CTVA	C	0.59%
BRK.A	B	0.59%
GD	F	0.58%
CTRA	B	0.57%
WRB	A	0.55%
AZO	C	0.55%
STNG	F	0.55%
MKL	A	0.54%
AEP	D	0.54%
JKHY	D	0.53%
ADC	B	0.53%
PNW	B	0.53%
SIGI	C	0.53%
CHRW	C	0.49%
TSCO	D	0.49%
SON	D	0.48%
BAH	F	0.47%
FLO	D	0.47%
TTEK	F	0.46%
REGN	F	0.45%
HSY	F	0.45%
NBIX	C	0.43%
HRL	D	0.4%
VRSK	A	0.39%
NFG	A	0.38%
HII	D	0.36%
BMRN	D	0.35%
SLGN	A	0.34%
DDS	B	0.29%
BMI	B	0.27%
CRUS	D	0.26%
EA	A	0.23%
JPM	A	0.21%
PM	B	0.21%
COR	B	0.2%
ALKS	B	0.19%
ADI	D	0.15%
NCNO	B	0.13%
CAG	D	0.13%
L	A	0.11%
CWAN	B	0.09%
EXPD	D	0.03%

QLV Underweight 65 Positions Relative to TCAF

Symbol	Grade	Weight
FTV	C	-2.71%
DHR	F	-2.63%
BDX	F	-2.48%
RVTY	F	-2.44%
PTC	A	-1.67%
CRM	B	-1.63%
INTU	C	-1.55%
MA	C	-1.53%
CNP	B	-1.49%
VLTO	D	-1.49%
RTX	C	-1.47%
DTE	C	-1.31%
MLM	B	-1.2%
IR	B	-1.19%
NI	A	-1.09%
ICE	C	-1.06%
YUM	B	-1.04%
AMD	F	-1.02%
ADSK	A	-0.95%
TMO	F	-0.93%
HLT	A	-0.92%
TDY	B	-0.71%
AMT	D	-0.7%
AVTR	F	-0.67%
ELV	F	-0.67%
AJG	B	-0.62%
HUM	C	-0.55%
SBAC	D	-0.55%
GEHC	F	-0.54%
NXPI	D	-0.53%
BIIB	F	-0.53%
KKR	A	-0.49%
KDP	D	-0.46%
AUR	C	-0.41%
SBUX	A	-0.38%
NKE	D	-0.36%
EXC	C	-0.34%
BKNG	A	-0.34%
IEX	B	-0.33%
LRCX	F	-0.32%
ANSS	B	-0.32%
CSX	B	-0.28%
MAR	B	-0.28%
ARGX	A	-0.26%
DLTR	F	-0.25%
ACN	C	-0.25%
AME	A	-0.2%
MS	A	-0.2%
SPGI	C	-0.2%
CMG	B	-0.16%
SYK	C	-0.15%
SLB	C	-0.15%
MSCI	C	-0.14%
DIS	B	-0.14%
CDNS	B	-0.12%
LNT	A	-0.12%
KLAC	D	-0.12%
VMC	B	-0.11%
TW	A	-0.1%
INFA	D	-0.1%
GS	A	-0.1%
PNC	B	-0.1%
BA	F	-0.09%
TT	A	-0.05%
APH	A	-0.04%