SHUS vs. QDF ETF Comparison

Comparison of Syntax Stratified U.S. Total Market Hedged ETF (SHUS) to FlexShares Quality Dividend Index Fund (QDF)

SHUS

Syntax Stratified U.S. Total Market Hedged ETF

SHUS Description

The investment seeks to obtain capital growth that meets or exceeds the performance of the S&P Composite 1500® Index over a full market cycle by investing in ETFs or underlying securities that provide Stratified WeightTM U.S. total equity market exposure to companies in the 1500 while seeking risk-managed growth via a defined risk hedging process. The fund will also invest in index options for risk management purposes and to seek to generate additional returns. Syntax?s Stratified Weight? is designed to correct for business risk concentrations that regularly occur in cap-weighted indices and equal-weighted indices.

Grade (RS Rating)

Last Trade

$44.29

Average Daily Volume

2,444

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

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

Performance

Period	SHUS	QDF
30 Days	2.26%	1.66%
60 Days	3.81%	2.62%
90 Days	5.24%	4.00%
12 Months	15.89%	26.92%

88 Overlapping Holdings

Symbol	Grade	Weight in SHUS	Weight in QDF	Overlap
AAPL	C	0.49%	8.54%	0.49%
ABBV	D	0.24%	2.58%	0.24%
ACN	C	0.13%	1.93%	0.13%
ADP	B	0.21%	1.11%	0.21%
AFL	B	0.2%	0.62%	0.2%
AVB	B	0.1%	0.58%	0.1%
AVGO	D	0.22%	0.88%	0.22%
BAC	A	0.12%	0.02%	0.02%
BBWI	D	0.19%	0.01%	0.01%
BK	A	0.11%	0.68%	0.11%
BKNG	A	0.13%	0.07%	0.07%
BR	A	0.11%	0.3%	0.11%
CAT	B	0.14%	0.75%	0.14%
CHRW	C	0.09%	0.55%	0.09%
CL	D	0.4%	0.15%	0.15%
COP	C	0.07%	0.04%	0.04%
COR	B	0.18%	0.14%	0.14%
COST	B	0.7%	0.24%	0.24%
CPT	B	0.1%	0.51%	0.1%
CTAS	B	0.17%	0.39%	0.17%
D	C	0.24%	0.59%	0.24%
DPZ	C	0.52%	0.17%	0.17%
DVN	F	0.16%	0.46%	0.16%
EA	A	0.48%	0.58%	0.48%
EBAY	D	0.22%	0.58%	0.22%
EIX	B	0.24%	0.34%	0.24%
EQR	B	0.1%	0.55%	0.1%
EVRG	A	0.08%	0.42%	0.08%
FAST	B	0.12%	0.68%	0.12%
FIS	C	0.05%	0.62%	0.05%
GEN	B	0.17%	0.58%	0.17%
GILD	C	0.24%	1.0%	0.24%
GOOG	C	0.22%	1.63%	0.22%
GOOGL	C	0.22%	1.84%	0.22%
HD	A	0.25%	1.77%	0.25%
HST	C	0.11%	0.41%	0.11%
INTU	C	0.2%	1.74%	0.2%
IPG	D	0.33%	0.45%	0.33%
ITW	B	0.17%	0.74%	0.17%
IVZ	B	0.09%	0.51%	0.09%
JNJ	D	0.23%	3.01%	0.23%
JPM	A	0.12%	0.75%	0.12%
KLAC	D	0.17%	0.76%	0.17%
KO	D	0.24%	2.16%	0.24%
LMT	D	0.08%	0.62%	0.08%
LOW	D	0.25%	1.27%	0.25%
MA	C	0.05%	0.26%	0.05%
MAA	B	0.1%	0.55%	0.1%
MAR	B	0.12%	0.05%	0.05%
MCHP	D	0.13%	0.45%	0.13%
MET	A	0.21%	0.56%	0.21%
META	D	0.46%	3.1%	0.46%
MMM	D	0.17%	0.65%	0.17%
MO	A	0.35%	0.89%	0.35%
MPC	D	0.48%	0.54%	0.48%
MRK	F	0.24%	0.45%	0.24%
MS	A	0.26%	0.98%	0.26%
MSFT	F	0.32%	4.91%	0.32%
NKE	D	0.33%	0.83%	0.33%
NTAP	C	0.17%	0.22%	0.17%
NUE	C	0.25%	0.42%	0.25%
NVDA	C	0.13%	5.81%	0.13%
NXPI	D	0.23%	0.52%	0.23%
PAYC	B	0.21%	0.16%	0.16%
PAYX	C	0.21%	0.63%	0.21%
PEG	A	0.25%	0.61%	0.25%
PFG	D	0.2%	0.39%	0.2%
PG	A	0.41%	3.03%	0.41%
PM	B	0.35%	1.41%	0.35%
PNW	B	0.07%	0.16%	0.07%
POOL	C	0.13%	0.44%	0.13%
PRU	A	0.2%	0.61%	0.2%
PSA	D	0.1%	0.6%	0.1%
QCOM	F	0.22%	1.68%	0.22%
RMD	C	0.09%	0.17%	0.09%
SBUX	A	0.48%	0.76%	0.48%
SNA	A	0.25%	0.56%	0.25%
SWKS	F	0.21%	0.4%	0.21%
TPR	B	0.32%	0.57%	0.32%
TT	A	0.08%	0.43%	0.08%
UNP	C	0.08%	1.24%	0.08%
V	A	0.04%	0.4%	0.04%
VLO	C	0.49%	0.55%	0.49%
WMT	A	0.72%	0.13%	0.13%
WTW	B	0.04%	0.56%	0.04%
WY	D	0.17%	0.42%	0.17%
XOM	B	0.75%	0.5%	0.5%
ZTS	D	0.25%	0.74%	0.25%

SHUS Overweight 412 Positions Relative to QDF

Symbol	Grade	Weight
CVX	A	0.75%
KR	B	0.73%
SYY	B	0.73%
ROST	C	0.71%
TJX	A	0.71%
COF	B	0.69%
SYF	B	0.68%
CVS	D	0.68%
DFS	B	0.68%
WBA	F	0.63%
CMCSA	B	0.51%
PSX	C	0.5%
DRI	B	0.5%
YUM	B	0.5%
L	A	0.49%
EL	F	0.49%
MSI	B	0.49%
MCD	D	0.49%
CMG	B	0.49%
BRK.A	B	0.49%
TTWO	A	0.48%
MTCH	D	0.46%
CHTR	C	0.46%
CLX	B	0.41%
KVUE	A	0.41%
KMB	D	0.41%
BWA	D	0.41%
CHD	B	0.41%
VST	B	0.4%
PWR	A	0.4%
APTV	D	0.39%
J	F	0.39%
CEG	D	0.38%
JBL	B	0.37%
HRL	D	0.36%
ADM	D	0.36%
BG	F	0.36%
BKR	B	0.35%
CRM	B	0.35%
TSN	B	0.35%
ORCL	B	0.34%
SLB	C	0.34%
SNPS	B	0.34%
HPQ	B	0.34%
T	A	0.33%
TMUS	B	0.33%
OMC	C	0.33%
HCA	F	0.33%
CDNS	B	0.33%
IBM	C	0.33%
HAL	C	0.33%
AWK	D	0.32%
RL	B	0.32%
UHS	D	0.32%
ATO	A	0.32%
NI	A	0.32%
GRMN	B	0.32%
VZ	C	0.32%
NRG	B	0.32%
AES	F	0.31%
NVR	D	0.3%
LULU	C	0.3%
FCX	D	0.29%
EXC	C	0.29%
DECK	A	0.29%
UAL	A	0.28%
VRSN	F	0.27%
STLD	B	0.27%
TSLA	B	0.27%
DAL	C	0.27%
HUM	C	0.26%
HUBB	B	0.26%
ETN	A	0.26%
EQIX	A	0.26%
SWK	D	0.26%
DLR	B	0.26%
GDDY	A	0.26%
AKAM	D	0.26%
STZ	D	0.25%
PHM	D	0.25%
MOH	F	0.25%
LUV	C	0.25%
KMI	A	0.25%
MNST	C	0.25%
ETR	B	0.25%
TAP	C	0.25%
BMY	B	0.25%
INCY	C	0.25%
SCHW	B	0.25%
CNP	B	0.25%
RJF	A	0.25%
UNH	C	0.25%
ENPH	F	0.25%
HAS	D	0.25%
GS	A	0.25%
CNC	D	0.25%
AEP	D	0.24%
TRGP	B	0.24%
OKE	A	0.24%
FE	C	0.24%
VTRS	A	0.24%
ED	D	0.24%
KDP	D	0.24%
PFE	D	0.24%
BIIB	F	0.24%
NEE	D	0.24%
WMB	A	0.24%
NEM	D	0.24%
GM	B	0.24%
LEN	D	0.24%
ELV	F	0.24%
F	C	0.24%
DTE	C	0.24%
CTLT	B	0.24%
REGN	F	0.23%
VRTX	F	0.23%
LLY	F	0.23%
MRNA	F	0.23%
AMGN	D	0.23%
DHI	D	0.23%
LW	C	0.22%
DAY	B	0.22%
NOW	A	0.22%
NFLX	A	0.22%
PLTR	B	0.22%
ADI	D	0.22%
CPRT	A	0.22%
TXN	C	0.22%
ON	D	0.22%
KHC	F	0.21%
CSCO	B	0.21%
ANET	C	0.21%
AOS	F	0.21%
MKC	D	0.21%
QRVO	F	0.21%
SJM	D	0.21%
GIS	D	0.21%
CAG	D	0.21%
TYL	B	0.21%
MPWR	F	0.21%
AMZN	C	0.21%
IR	B	0.2%
IEX	B	0.2%
PARA	C	0.2%
FFIV	B	0.2%
CPB	D	0.2%
ERIE	D	0.2%
AIZ	A	0.2%
HSIC	B	0.2%
FSLR	F	0.2%
KEYS	A	0.2%
DIS	B	0.2%
CAH	B	0.19%
TEL	B	0.19%
XYL	D	0.19%
MAS	D	0.19%
HPE	B	0.19%
PGR	A	0.19%
WBD	C	0.19%
GLW	B	0.19%
PNR	A	0.19%
ALL	A	0.19%
BLDR	D	0.19%
GL	B	0.19%
AIG	B	0.19%
JNPR	F	0.19%
RSG	A	0.18%
CRWD	B	0.18%
EQT	B	0.18%
GEV	B	0.18%
WM	A	0.18%
MDLZ	F	0.18%
ROL	B	0.18%
K	A	0.18%
MCK	B	0.18%
CI	F	0.18%
MHK	D	0.18%
APH	A	0.18%
TGT	F	0.17%
ANSS	B	0.17%
DG	F	0.17%
GE	D	0.17%
FTNT	C	0.17%
MLM	B	0.17%
DOV	A	0.17%
BBY	D	0.17%
CTRA	B	0.17%
DLTR	F	0.17%
PTC	A	0.17%
DELL	C	0.17%
VMC	B	0.17%
STX	D	0.17%
WDC	D	0.17%
HSY	F	0.17%
PEP	F	0.17%
AMAT	F	0.17%
ULTA	F	0.17%
PANW	C	0.16%
INTC	D	0.16%
GD	F	0.16%
BA	F	0.16%
DGX	A	0.16%
LH	C	0.16%
TXT	D	0.16%
HON	B	0.16%
ADSK	A	0.16%
TER	D	0.16%
TECH	D	0.15%
AZO	C	0.15%
GPC	D	0.15%
A	D	0.15%
WAT	B	0.15%
SMCI	F	0.15%
MU	D	0.15%
ADBE	C	0.15%
MTD	D	0.14%
CRL	C	0.14%
CINF	A	0.14%
URI	B	0.14%
TRV	B	0.14%
CB	C	0.14%
HIG	B	0.14%
AMD	F	0.14%
ACGL	D	0.14%
EG	C	0.14%
ORLY	B	0.14%
KMX	B	0.14%
LKQ	D	0.14%
TMO	F	0.14%
IT	C	0.13%
EPAM	C	0.13%
WFC	A	0.13%
GWW	B	0.13%
CTSH	B	0.13%
C	A	0.13%
DE	A	0.13%
WAB	B	0.13%
ZBRA	B	0.13%
LDOS	C	0.13%
WRB	A	0.13%
IQV	D	0.13%
HLT	A	0.12%
SYK	C	0.12%
ABNB	C	0.12%
EXPE	B	0.12%
STE	F	0.12%
ISRG	A	0.12%
CDW	F	0.12%
BALL	D	0.12%
ZBH	C	0.12%
TSCO	D	0.12%
PCAR	B	0.12%
AMCR	D	0.12%
AME	A	0.12%
VTR	C	0.11%
DVA	B	0.11%
WELL	A	0.11%
EXR	D	0.11%
DOC	D	0.11%
BXP	D	0.11%
UBER	D	0.11%
STT	A	0.11%
HOLX	D	0.1%
PODD	C	0.1%
NWSA	B	0.1%
DHR	F	0.1%
NWS	B	0.1%
RVTY	F	0.1%
ESS	B	0.1%
INVH	D	0.1%
FOX	A	0.1%
UDR	B	0.1%
GEHC	F	0.1%
ALGN	D	0.1%
FOXA	B	0.1%
ARE	D	0.1%
AXON	A	0.09%
EXPD	D	0.09%
KKR	A	0.09%
CCL	B	0.09%
AMP	A	0.09%
NCLH	B	0.09%
CF	B	0.09%
BLK	C	0.09%
LYV	A	0.09%
DXCM	D	0.09%
IDXX	F	0.09%
SO	D	0.08%
PPL	B	0.08%
CARR	D	0.08%
LNT	A	0.08%
AEE	A	0.08%
JCI	C	0.08%
PH	A	0.08%
GNRC	B	0.08%
WYNN	D	0.08%
NSC	B	0.08%
OTIS	C	0.08%
CMI	A	0.08%
HII	D	0.08%
NOC	D	0.08%
BX	A	0.08%
RTX	C	0.08%
ODFL	B	0.08%
NTRS	A	0.08%
LVS	C	0.08%
MOS	F	0.08%
JBHT	C	0.08%
CSX	B	0.08%
CTVA	C	0.08%
LHX	C	0.08%
FMC	D	0.08%
BEN	C	0.08%
TROW	B	0.08%
RCL	A	0.08%
UPS	C	0.08%
LYB	F	0.07%
SW	A	0.07%
FANG	D	0.07%
OXY	D	0.07%
PPG	F	0.07%
CZR	F	0.07%
MGM	D	0.07%
MRO	B	0.07%
EOG	A	0.07%
APA	D	0.07%
DOW	F	0.07%
HES	B	0.07%
CE	F	0.07%
ALLE	D	0.07%
DUK	C	0.07%
WEC	A	0.07%
ES	D	0.07%
FDX	B	0.07%
PCG	A	0.07%
SRE	A	0.07%
XEL	A	0.07%
CMS	C	0.07%
HWM	A	0.07%
FI	A	0.06%
KEY	B	0.06%
RF	A	0.06%
PNC	B	0.06%
MTB	A	0.06%
EW	C	0.06%
ABT	B	0.06%
MDT	D	0.06%
PYPL	B	0.06%
AMT	D	0.06%
BSX	B	0.06%
IP	B	0.06%
KIM	A	0.06%
REG	B	0.06%
AVY	D	0.06%
FRT	B	0.06%
PLD	D	0.06%
SBAC	D	0.06%
VICI	C	0.06%
CCI	D	0.06%
PKG	A	0.06%
O	D	0.06%
SPG	B	0.06%
IRM	D	0.06%
TDG	D	0.06%
SHW	A	0.06%
AXP	A	0.05%
APD	A	0.05%
SOLV	C	0.05%
IFF	D	0.05%
ECL	D	0.05%
BAX	D	0.05%
WST	C	0.05%
BDX	F	0.05%
TFX	F	0.05%
EMN	D	0.05%
ALB	C	0.05%
DD	D	0.05%
JKHY	D	0.05%
HBAN	A	0.05%
TFC	A	0.05%
USB	A	0.05%
CFG	B	0.05%
FITB	A	0.05%
EFX	F	0.04%
MCO	B	0.04%
AON	A	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
GPN	B	0.04%
SPGI	C	0.04%
CBOE	B	0.04%
VRSK	A	0.04%
ICE	C	0.04%
FDS	B	0.04%
NDAQ	A	0.04%
CPAY	A	0.04%
MKTX	D	0.04%
CME	A	0.04%
LIN	D	0.04%
MSCI	C	0.04%
ROK	B	0.03%
FICO	B	0.03%
VLTO	D	0.03%
EMR	A	0.03%
NDSN	B	0.03%
FTV	C	0.03%
TRMB	B	0.03%
TDY	B	0.03%
ROP	B	0.03%
AJG	B	0.03%
MMC	B	0.03%
BRO	B	0.03%

SHUS Underweight 39 Positions Relative to QDF

Symbol	Grade	Weight
LRCX	F	-0.87%
VRT	B	-0.83%
VIRT	B	-0.6%
KTB	B	-0.6%
JHG	A	-0.6%
CMA	A	-0.58%
ORI	A	-0.55%
OMF	A	-0.52%
OHI	C	-0.52%
OGE	B	-0.51%
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%
WU	D	-0.45%
WSM	B	-0.43%
CFR	B	-0.42%
LNC	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%
OLN	D	-0.25%
NNN	D	-0.23%
WING	D	-0.2%
HRB	D	-0.17%
BSY	D	-0.13%
EXP	A	-0.08%
WFRD	D	-0.07%
CSWI	A	-0.07%
STNG	F	-0.02%