FDLO vs. QDEF ETF Comparison

Comparison of Fidelity Low Volatility Factor ETF (FDLO) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

FDLO

Fidelity Low Volatility Factor ETF

FDLO Description

The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity U.S. Low Volatility Factor Index. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Low Volatility Factor Index, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with lower volatility than the broader market.

Grade (RS Rating)

Last Trade

$61.98

Average Daily Volume

74,193

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

QDEF

FlexShares Quality Dividend Defensive Index Fund

QDEF 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 Defensive 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 that is lower than that of the Northern Trust 1250 IndexSM. It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$72.79

Average Daily Volume

6,852

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	FDLO	QDEF
30 Days	0.81%	1.58%
60 Days	1.49%	2.63%
90 Days	4.05%	4.66%
12 Months	21.68%	30.49%

45 Overlapping Holdings

Symbol	Grade	Weight in FDLO	Weight in QDEF	Overlap
AAPL	C	7.26%	6.07%	6.07%
ABBV	D	0.98%	2.6%	0.98%
ADP	B	0.66%	1.13%	0.66%
AIZ	A	0.61%	0.58%	0.58%
AMT	D	0.29%	0.82%	0.29%
AVY	D	0.14%	0.48%	0.14%
BAH	F	0.43%	0.12%	0.12%
CME	A	0.69%	0.71%	0.69%
CSCO	B	1.77%	0.61%	0.61%
DOX	D	1.08%	0.48%	0.48%
DUK	C	0.35%	0.77%	0.35%
EA	A	0.72%	0.6%	0.6%
ED	D	0.25%	0.49%	0.25%
EQR	B	0.18%	0.53%	0.18%
FAST	B	0.54%	0.58%	0.54%
GIS	D	0.28%	0.45%	0.28%
GOOGL	C	4.12%	1.36%	1.36%
HD	A	1.19%	3.07%	1.19%
IBM	C	1.54%	1.7%	1.54%
ITW	B	0.56%	0.74%	0.56%
JNJ	D	1.18%	2.93%	1.18%
JPM	A	1.89%	0.73%	0.73%
KMB	D	0.3%	0.51%	0.3%
KO	D	0.66%	0.65%	0.65%
LMT	D	0.58%	1.05%	0.58%
LOW	D	0.71%	0.47%	0.47%
MA	C	1.34%	0.23%	0.23%
MAA	B	0.18%	0.53%	0.18%
MRK	F	0.88%	2.25%	0.88%
MSFT	F	6.93%	4.97%	4.97%
MSI	B	1.49%	0.74%	0.74%
OTIS	C	0.47%	0.51%	0.47%
PAYX	C	0.51%	0.63%	0.51%
PG	A	0.99%	2.83%	0.99%
PM	B	0.62%	1.65%	0.62%
PSA	D	0.25%	0.59%	0.25%
SBUX	A	0.7%	0.98%	0.7%
T	A	0.99%	0.77%	0.77%
TJX	A	0.65%	0.99%	0.65%
TMUS	B	0.97%	1.14%	0.97%
V	A	1.47%	0.38%	0.38%
VZ	C	0.93%	0.65%	0.65%
WEC	A	0.27%	0.28%	0.27%
WMT	A	0.95%	0.12%	0.12%
XOM	B	1.17%	0.5%	0.5%

FDLO Overweight 80 Positions Relative to QDEF

Symbol	Grade	Weight
AMZN	C	3.92%
BRK.A	B	2.13%
ORCL	B	2.01%
ACN	C	1.6%
LLY	F	1.57%
UNH	C	1.55%
TXN	C	1.48%
ROP	B	1.21%
TYL	B	1.19%
VRSN	F	1.08%
AKAM	D	1.03%
CMCSA	B	0.95%
ABT	B	0.9%
PGR	A	0.84%
MCD	D	0.8%
TMO	F	0.78%
CB	C	0.72%
ETN	A	0.72%
AMGN	D	0.71%
HON	B	0.7%
VRTX	F	0.69%
CVX	A	0.69%
TRV	B	0.69%
MMC	B	0.67%
UNP	C	0.63%
PEP	F	0.62%
AJG	B	0.61%
BDX	F	0.6%
FDS	B	0.59%
WRB	A	0.56%
NKE	D	0.56%
WM	A	0.55%
CBOE	B	0.55%
LIN	D	0.53%
ORLY	B	0.53%
JKHY	D	0.51%
GRMN	B	0.51%
REGN	F	0.5%
NOC	D	0.5%
GD	F	0.49%
LHX	C	0.49%
AZO	C	0.47%
RSG	A	0.47%
TSCO	D	0.46%
ERIE	D	0.45%
COP	C	0.41%
J	F	0.39%
SO	D	0.37%
MDLZ	F	0.37%
CL	D	0.35%
WMB	A	0.34%
FCN	D	0.34%
EOG	A	0.32%
EQIX	A	0.31%
XEL	A	0.3%
SHW	A	0.3%
KMI	A	0.3%
HII	D	0.29%
LNG	B	0.28%
AEP	D	0.28%
APD	A	0.27%
AEE	A	0.26%
DLR	B	0.26%
CMS	C	0.24%
HSY	F	0.24%
ECL	D	0.24%
DTM	B	0.23%
O	D	0.22%
CCI	D	0.21%
VMC	B	0.2%
CTVA	C	0.2%
PKG	A	0.19%
MLM	B	0.19%
CTRA	B	0.19%
CSGP	D	0.18%
ADC	B	0.16%
AMH	D	0.16%
ELS	C	0.16%
ATR	B	0.16%
AMCR	D	0.15%

FDLO Underweight 78 Positions Relative to QDEF

Symbol	Grade	Weight
NVDA	C	-6.0%
META	D	-2.76%
QCOM	F	-1.65%
INTU	C	-1.29%
GOOG	C	-1.1%
GILD	C	-1.03%
AVGO	D	-0.88%
MO	A	-0.86%
CI	F	-0.83%
KLAC	D	-0.79%
MCK	B	-0.71%
BK	A	-0.67%
MMM	D	-0.66%
UNM	A	-0.65%
EME	C	-0.64%
BWXT	B	-0.64%
UMBF	B	-0.61%
FIS	C	-0.6%
AFL	B	-0.6%
CFR	B	-0.6%
GEN	B	-0.59%
WTW	B	-0.58%
VIRT	B	-0.57%
CSWI	A	-0.57%
COR	B	-0.57%
LDOS	C	-0.57%
VRSK	A	-0.57%
D	C	-0.56%
WDFC	B	-0.55%
PPL	B	-0.55%
ORI	A	-0.54%
ESS	B	-0.54%
RMD	C	-0.54%
K	A	-0.53%
CSL	C	-0.53%
OHI	C	-0.53%
MET	A	-0.53%
PNW	B	-0.52%
IRDM	D	-0.52%
CPT	B	-0.51%
OMF	A	-0.5%
LSTR	D	-0.49%
BPOP	B	-0.48%
RDN	C	-0.48%
NSA	D	-0.47%
OGE	B	-0.47%
IPG	D	-0.46%
DELL	C	-0.46%
BMY	B	-0.45%
VRT	B	-0.45%
HRB	D	-0.45%
WU	D	-0.43%
EXPD	D	-0.42%
SAIC	F	-0.41%
WSM	B	-0.41%
DPZ	C	-0.41%
CUBE	D	-0.4%
EVRG	A	-0.4%
EBAY	D	-0.4%
EXC	C	-0.39%
CHE	D	-0.39%
SWKS	F	-0.39%
MSM	C	-0.37%
BSY	D	-0.37%
STNG	F	-0.36%
STWD	C	-0.32%
NEP	F	-0.32%
PEG	A	-0.26%
COST	B	-0.24%
MAS	D	-0.23%
NNN	D	-0.21%
AVB	B	-0.18%
CAH	B	-0.17%
SCCO	F	-0.16%
DDS	B	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%
BAC	A	-0.02%