USMV vs. QLC ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to FlexShares US Quality Large Cap Index Fund (QLC)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

QLC

FlexShares US Quality Large Cap Index Fund

QLC Description

FlexShares Trust - FlexShares US Quality Large Cap Index Fund is an exchange traded fund launched by Northern Trust Corporation. The fund is managed by Northern Trust Investments, Incorporated. It invests in public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors. It invests in momentum stocks of large-cap companies. The fund seeks to track the performance of the Northern Trust Quality Large Cap Index, by employing representative sampling methodology. FlexShares Trust - FlexShares US Quality Large Cap Index Fund is domiciled in the United States.

Grade (RS Rating)

Last Trade

$67.43

Average Daily Volume

43,756

Number of Holdings ^*

164

* may have additional holdings in another (foreign) market

Performance

Period	USMV	QLC
30 Days	1.70%	3.14%
60 Days	2.42%	4.71%
90 Days	4.02%	6.03%
12 Months	25.63%	34.37%

53 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in QLC	Overlap
AAPL	C	0.99%	7.51%	0.99%
ABBV	D	1.04%	0.19%	0.19%
ABT	B	0.09%	0.13%	0.09%
ACN	C	1.29%	0.68%	0.68%
ADI	D	0.23%	0.47%	0.23%
ADP	B	0.09%	0.05%	0.05%
AMGN	D	0.59%	0.55%	0.55%
AMZN	C	0.14%	2.34%	0.14%
AVGO	D	1.19%	1.69%	1.19%
AZO	C	0.98%	0.56%	0.56%
BMY	B	0.49%	0.44%	0.44%
BRK.A	B	1.55%	2.35%	1.55%
CI	F	0.21%	0.76%	0.21%
CL	D	0.41%	0.33%	0.33%
CMCSA	B	0.39%	0.78%	0.39%
COR	B	0.67%	0.56%	0.56%
CRM	B	0.05%	0.04%	0.04%
CSCO	B	1.47%	1.25%	1.25%
CTSH	B	0.76%	0.34%	0.34%
DELL	C	0.12%	0.33%	0.12%
EA	A	0.89%	0.28%	0.28%
ED	D	1.13%	0.51%	0.51%
ELV	F	0.52%	0.12%	0.12%
FI	A	0.69%	0.18%	0.18%
FICO	B	0.59%	0.68%	0.59%
GILD	C	0.94%	0.15%	0.15%
GIS	D	0.66%	0.34%	0.34%
GOOG	C	0.16%	2.82%	0.16%
HD	A	0.3%	0.66%	0.3%
HOLX	D	0.16%	0.2%	0.16%
IT	C	0.35%	0.19%	0.19%
JNJ	D	1.18%	1.48%	1.18%
KMB	D	0.21%	0.43%	0.21%
KR	B	0.61%	0.46%	0.46%
LLY	F	1.25%	1.14%	1.14%
LMT	D	0.82%	0.58%	0.58%
MCK	B	1.35%	0.77%	0.77%
MELI	D	0.18%	0.38%	0.18%
MPC	D	0.54%	0.54%	0.54%
MRK	F	1.01%	0.88%	0.88%
MSFT	F	1.34%	4.69%	1.34%
NTAP	C	0.22%	0.17%	0.17%
NVDA	C	0.67%	6.54%	0.67%
ORCL	B	1.31%	1.12%	1.12%
OXY	D	0.12%	0.21%	0.12%
PG	A	1.23%	1.27%	1.23%
PSX	C	0.06%	0.19%	0.06%
REGN	F	0.59%	0.06%	0.06%
ROP	B	1.3%	0.03%	0.03%
SO	D	1.35%	0.84%	0.84%
T	A	0.74%	0.78%	0.74%
UTHR	C	0.14%	0.13%	0.13%
VLO	C	0.05%	0.53%	0.05%

USMV Overweight 117 Positions Relative to QLC

Symbol	Grade	Weight
TMUS	B	1.95%
MSI	B	1.81%
WMT	A	1.78%
PGR	A	1.67%
IBM	C	1.66%
WCN	A	1.56%
RSG	A	1.55%
DUK	C	1.49%
CB	C	1.47%
APH	A	1.44%
WM	A	1.44%
NOC	D	1.43%
TXN	C	1.39%
VZ	C	1.35%
UNH	C	1.34%
AJG	B	1.27%
MCD	D	1.25%
TRV	B	1.15%
MMC	B	1.11%
PEP	F	1.01%
GDDY	A	1.0%
V	A	0.9%
FCNCA	A	0.88%
CBOE	B	0.85%
K	A	0.8%
WEC	A	0.78%
NOW	A	0.75%
TSN	B	0.71%
MA	C	0.7%
VRTX	F	0.69%
ORLY	B	0.68%
ACGL	D	0.68%
VRSN	F	0.64%
KDP	D	0.59%
TDY	B	0.57%
BDX	F	0.56%
KEYS	A	0.55%
FANG	D	0.55%
FFIV	B	0.55%
INCY	C	0.53%
AON	A	0.53%
CME	A	0.53%
PTC	A	0.52%
YUM	B	0.5%
XEL	A	0.46%
NEM	D	0.46%
UBER	D	0.45%
JNPR	F	0.45%
TJX	A	0.45%
XOM	B	0.45%
MDLZ	F	0.44%
WDAY	B	0.43%
EG	C	0.43%
ERIE	D	0.42%
VRSK	A	0.42%
CHD	B	0.4%
HUM	C	0.4%
BAH	F	0.39%
AEP	D	0.39%
AKAM	D	0.39%
KHC	F	0.38%
WTW	B	0.38%
CTVA	C	0.38%
ROL	B	0.36%
AFG	A	0.35%
GEN	B	0.35%
CDW	F	0.35%
CVX	A	0.34%
MKL	A	0.34%
GRMN	B	0.33%
CPB	D	0.33%
AIZ	A	0.32%
NBIX	C	0.32%
WMB	A	0.31%
WRB	A	0.31%
GLW	B	0.31%
FWONK	B	0.31%
HSY	F	0.3%
ANET	C	0.29%
ICE	C	0.28%
L	A	0.28%
HON	B	0.25%
AEE	A	0.24%
HUBS	A	0.24%
D	C	0.23%
AZPN	A	0.23%
ALNY	D	0.22%
BMRN	D	0.22%
HRL	D	0.21%
TW	A	0.2%
DTE	C	0.2%
PKG	A	0.2%
PFE	D	0.2%
DPZ	C	0.19%
CRWD	B	0.19%
CMS	C	0.19%
CDNS	B	0.18%
MOH	F	0.18%
SNPS	B	0.18%
EOG	A	0.17%
LIN	D	0.16%
STX	D	0.16%
MDT	D	0.13%
HIG	B	0.12%
DGX	A	0.11%
KO	D	0.1%
LNT	A	0.1%
RTX	C	0.09%
OTIS	C	0.07%
TEL	B	0.07%
ATO	A	0.06%
FSLR	F	0.06%
KNX	B	0.06%
BR	A	0.05%
GD	F	0.05%
ULTA	F	0.04%
CVS	D	0.04%

USMV Underweight 111 Positions Relative to QLC

Symbol	Grade	Weight
GOOGL	C	-2.85%
META	D	-2.34%
JPM	A	-2.1%
BAC	A	-1.5%
C	A	-1.25%
INTU	C	-1.08%
GE	D	-0.96%
CAT	B	-0.95%
ADBE	C	-0.82%
ITW	B	-0.77%
TSLA	B	-0.73%
LRCX	F	-0.72%
COF	B	-0.72%
MS	A	-0.69%
NFLX	A	-0.69%
BK	A	-0.68%
GS	A	-0.68%
ETR	B	-0.66%
QCOM	F	-0.66%
BKNG	A	-0.66%
AMAT	F	-0.66%
GWW	B	-0.64%
KLAC	D	-0.64%
SPG	B	-0.64%
CBRE	B	-0.63%
AFL	B	-0.62%
PEG	A	-0.61%
PPL	B	-0.56%
SYF	B	-0.56%
MET	A	-0.55%
AVB	B	-0.55%
LDOS	C	-0.54%
PM	B	-0.54%
NVR	D	-0.54%
APP	B	-0.53%
ESS	B	-0.53%
AIG	B	-0.52%
FTNT	C	-0.5%
PSA	D	-0.48%
STLD	B	-0.47%
NRG	B	-0.47%
EBAY	D	-0.47%
CHKP	D	-0.46%
WFC	A	-0.45%
LOW	D	-0.45%
STT	A	-0.44%
HST	C	-0.44%
EQR	B	-0.44%
WY	D	-0.43%
RCL	A	-0.4%
OMC	C	-0.39%
DVA	B	-0.39%
NUE	C	-0.39%
EXC	C	-0.38%
RMD	C	-0.38%
EXPD	D	-0.38%
UPS	C	-0.37%
CSL	C	-0.35%
FIS	C	-0.34%
LH	C	-0.33%
ALLY	C	-0.33%
CMI	A	-0.31%
MTD	D	-0.31%
PCAR	B	-0.3%
CNC	D	-0.29%
MO	A	-0.29%
TAP	C	-0.28%
WAB	B	-0.28%
PRU	A	-0.28%
FITB	A	-0.27%
JBL	B	-0.27%
MMM	D	-0.25%
MAS	D	-0.24%
DASH	A	-0.24%
PHM	D	-0.23%
ABNB	C	-0.22%
MCHP	D	-0.22%
EIX	B	-0.21%
HOOD	B	-0.21%
CAH	B	-0.21%
HCA	F	-0.19%
BBY	D	-0.19%
IDXX	F	-0.18%
DFS	B	-0.18%
PAYX	C	-0.16%
ICLR	D	-0.14%
THC	D	-0.14%
WSM	B	-0.13%
EME	C	-0.12%
LYB	F	-0.11%
MANH	D	-0.11%
CRBG	B	-0.09%
LEN	D	-0.09%
AOS	F	-0.08%
CE	F	-0.07%
FLEX	A	-0.07%
GEHC	F	-0.07%
ZM	B	-0.06%
TGT	F	-0.06%
SYK	C	-0.05%
EXPE	B	-0.05%
DHR	F	-0.04%
EVRG	A	-0.03%
JLL	D	-0.03%
MEDP	D	-0.02%
MAA	B	-0.02%
ADM	D	-0.02%
TXT	D	-0.02%
SMCI	F	-0.02%
LAMR	D	-0.02%
EMR	A	-0.02%