FDL vs. QDF ETF Comparison

Comparison of First Trust Morningstar ETF (FDL) to FlexShares Quality Dividend Index Fund (QDF)

FDL

First Trust Morningstar ETF

FDL Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Morningstar(R) Dividend Leaders Index(SM). The fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the index. The objective of the index is to offer investors a benchmark for dividend portfolios as well as a means to invest in a portfolio of stocks that have a consistent record of growing dividends as well as the ability to sustain them. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$41.77

Average Daily Volume

454,756

Number of Holdings ^*

* 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

$71.33

Average Daily Volume

45,847

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

Performance

Period	FDL	QDF
30 Days	1.69%	3.71%
60 Days	7.97%	9.65%
90 Days	11.96%	6.61%
12 Months	33.78%	31.89%

18 Overlapping Holdings

Symbol	Grade	Weight in FDL	Weight in QDF	Overlap
ABBV	C	7.9%	3.08%	3.08%
CMA	C	0.28%	0.5%	0.28%
EIX	C	0.89%	0.35%	0.35%
EVRG	C	0.43%	0.41%	0.41%
FAF	C	0.16%	0.48%	0.16%
GILD	A	2.84%	0.96%	0.96%
IPG	D	0.36%	0.51%	0.36%
JHG	A	0.15%	0.51%	0.15%
LNC	B	0.23%	0.35%	0.23%
MO	D	4.57%	0.81%	0.81%
OGE	C	0.25%	0.5%	0.25%
OMF	D	0.35%	0.43%	0.35%
PM	D	5.54%	1.29%	1.29%
PNW	C	0.29%	0.16%	0.16%
PRU	B	1.39%	0.58%	0.58%
SMG	C	0.11%	0.59%	0.11%
UGI	C	0.23%	0.49%	0.23%
WU	D	0.23%	0.5%	0.23%

FDL Overweight 81 Positions Relative to QDF

Symbol	Grade	Weight
CVX	B	8.55%
VZ	C	8.23%
PFE	D	6.56%
IBM	A	4.57%
UPS	D	3.52%
CVS	D	2.61%
DUK	C	2.3%
USB	C	2.16%
TFC	D	1.98%
PNC	C	1.84%
KMI	A	1.75%
F	D	1.73%
OKE	A	1.68%
DOW	B	1.5%
AEP	C	1.33%
FANG	D	1.22%
KMB	D	1.17%
EXC	C	1.12%
KHC	F	1.01%
LYB	B	1.01%
XEL	C	0.88%
TROW	D	0.81%
WEC	B	0.76%
ETR	A	0.74%
ES	D	0.71%
FITB	C	0.69%
HBAN	B	0.64%
RF	B	0.64%
FE	C	0.62%
STT	A	0.62%
KEY	B	0.56%
BBY	C	0.55%
CFG	C	0.55%
AEE	A	0.53%
CAG	D	0.5%
CLX	C	0.43%
K	B	0.42%
SWK	C	0.4%
FNF	C	0.37%
LNT	B	0.36%
SJM	D	0.34%
CNH	C	0.33%
WHR	C	0.31%
HAS	A	0.28%
BEN	F	0.26%
FHN	D	0.23%
COLB	C	0.23%
MTN	D	0.23%
FMC	C	0.22%
ZION	D	0.18%
SNV	D	0.16%
VLY	C	0.15%
POR	D	0.15%
APAM	B	0.15%
NXST	D	0.15%
FLO	D	0.14%
UBSI	D	0.14%
SR	D	0.13%
FIBK	C	0.13%
OZK	D	0.13%
BKH	C	0.13%
ALE	A	0.12%
NJR	C	0.12%
WEN	B	0.12%
CC	D	0.12%
PNM	B	0.11%
AVA	D	0.11%
TNL	B	0.11%
MAN	D	0.11%
NWE	C	0.11%
MSM	D	0.11%
PRGO	F	0.1%
OGS	C	0.1%
AGR	C	0.09%
FHB	D	0.09%
ASB	D	0.09%
FHI	A	0.08%
CRI	D	0.08%
LCII	C	0.08%
CATY	B	0.07%
GEF	B	0.01%

FDL Underweight 109 Positions Relative to QDF

Symbol	Grade	Weight
AAPL	C	-8.57%
MSFT	D	-4.98%
NVDA	B	-4.97%
META	A	-3.23%
JNJ	D	-3.17%
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%
GOOG	B	-1.55%
UNP	F	-1.3%
LOW	C	-1.29%
ADP	A	-1.07%
LRCX	D	-1.01%
KLAC	B	-0.96%
NKE	D	-0.93%
AVGO	B	-0.91%
ZTS	C	-0.81%
CAT	A	-0.78%
MS	A	-0.78%
SBUX	B	-0.73%
ITW	C	-0.72%
LMT	A	-0.71%
VRT	B	-0.7%
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%
FAST	C	-0.59%
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%
EA	D	-0.51%
NEP	D	-0.51%
RDN	D	-0.5%
STWD	C	-0.5%
WSM	C	-0.49%
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%
WMS	D	-0.43%
NUE	D	-0.43%
HST	D	-0.42%
SCCO	B	-0.42%
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%
IRDM	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%
NTAP	D	-0.23%
COST	C	-0.23%
HRB	C	-0.18%
CL	D	-0.17%
DPZ	D	-0.17%
RMD	C	-0.17%
BSY	D	-0.14%
PAYC	D	-0.12%
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%