FLCO vs. QDEF ETF Comparison

Comparison of Franklin Liberty Investment Grade Corporate ETF (FLCO) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

FLCO

Franklin Liberty Investment Grade Corporate ETF

FLCO Description

The fund seeks to provide a high level of current income as is consistent with prudent investing, while seeking preservation of capital, by investing at least 80% of its net assets in investment grade corporate debt securities and investments. The Fund may invest up to 40% of its net assets in foreign securities, including those in developing markets, and up to 15% of its net assets in non-U.S. dollar denominated securities.

Grade (RS Rating)

Last Trade

$22.13

Average Daily Volume

212,703

Number of Holdings ^*

* 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

$71.11

Average Daily Volume

5,791

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

Performance

Period	FLCO	QDEF
30 Days	1.64%	2.72%
60 Days	4.75%	6.48%
90 Days	5.31%	7.99%
12 Months	11.99%	30.41%

12 Overlapping Holdings

Symbol	Grade	Weight in FLCO	Weight in QDEF	Overlap
AAPL	C	0.85%	6.03%	0.85%
ABBV	C	0.92%	3.04%	0.92%
AFL	C	0.79%	0.61%	0.61%
BAC	D	2.39%	0.02%	0.02%
CI	C	0.96%	0.95%	0.95%
DUK	C	0.51%	0.83%	0.51%
EXC	C	1.11%	0.42%	0.42%
LMT	C	0.48%	1.13%	0.48%
MET	B	0.61%	0.5%	0.5%
MSFT	C	0.35%	5.11%	0.35%
VZ	B	1.64%	0.72%	0.72%
XOM	C	0.55%	0.47%	0.47%

FLCO Overweight 41 Positions Relative to QDEF

Symbol	Grade	Weight
CAF	F	1.87%
LVS	D	1.81%
BA	F	1.38%
BABA	B	1.24%
GJS	B	1.13%
TAK	C	1.02%
PNC	B	0.93%
NOW	B	0.92%
CARR	B	0.9%
HCA	B	0.88%
FDX	C	0.86%
CMCSA	D	0.82%
MHK	C	0.8%
TFC	C	0.77%
C	C	0.75%
ET	B	0.73%
UNH	C	0.72%
AL	D	0.68%
NOC	B	0.66%
GPJA	B	0.63%
ACGL	C	0.61%
CF	C	0.6%
KR	C	0.6%
AMZN	C	0.6%
JBL	D	0.58%
JWN	C	0.57%
FLEX	C	0.56%
NWG	C	0.54%
HII	D	0.49%
AON	B	0.49%
DLTR	F	0.46%
CVX	D	0.44%
GPJA	B	0.4%
RPRX	C	0.4%
ALL	B	0.38%
AZO	D	0.37%
PSX	F	0.35%
DHI	B	0.33%
DVN	F	0.31%
WMB	B	0.3%
STZ	D	0.29%

FLCO Underweight 109 Positions Relative to QDEF

Symbol	Grade	Weight
NVDA	D	-4.97%
JNJ	C	-3.26%
PG	C	-3.01%
HD	B	-2.93%
MRK	D	-2.71%
META	B	-2.56%
IBM	B	-1.78%
QCOM	D	-1.72%
PM	C	-1.65%
GOOGL	D	-1.24%
INTU	C	-1.23%
ADP	B	-1.05%
AMT	C	-1.03%
TJX	B	-1.01%
GOOG	D	-1.01%
TMUS	C	-0.99%
SBUX	C	-0.99%
GILD	B	-0.95%
KLAC	D	-0.94%
AVGO	C	-0.88%
MO	C	-0.84%
T	C	-0.76%
KO	C	-0.76%
ITW	C	-0.7%
CME	C	-0.7%
MSI	B	-0.68%
MMM	B	-0.68%
PSA	B	-0.65%
JPM	D	-0.63%
MCK	F	-0.62%
BK	B	-0.61%
PAYX	C	-0.6%
D	C	-0.59%
RMD	C	-0.59%
MAA	B	-0.58%
EQR	B	-0.58%
FIS	B	-0.58%
KMB	D	-0.57%
ESS	B	-0.57%
PPL	C	-0.55%
EA	D	-0.55%
VRSK	D	-0.55%
OHI	B	-0.55%
ED	C	-0.55%
AVY	C	-0.54%
K	B	-0.54%
NSA	B	-0.54%
LDOS	B	-0.54%
CPT	B	-0.54%
WTW	C	-0.54%
VIRT	C	-0.53%
PNW	C	-0.53%
UMBF	B	-0.53%
CSCO	C	-0.53%
EME	B	-0.52%
GIS	B	-0.52%
AIZ	B	-0.52%
UNM	B	-0.51%
FAST	C	-0.51%
WDFC	C	-0.51%
ORI	B	-0.51%
IPG	C	-0.5%
DOX	C	-0.5%
BPOP	C	-0.5%
BWXT	D	-0.5%
RDN	C	-0.5%
LSTR	D	-0.49%
IRDM	D	-0.49%
NEP	D	-0.49%
SWKS	D	-0.49%
CSL	B	-0.49%
OTIS	C	-0.49%
WU	F	-0.49%
HRB	C	-0.49%
CSWI	B	-0.48%
CFR	C	-0.48%
OGE	C	-0.47%
STNG	D	-0.46%
WSM	D	-0.46%
CUBE	B	-0.46%
LOW	B	-0.45%
SAIC	C	-0.45%
OMF	D	-0.43%
EXPD	C	-0.43%
EBAY	B	-0.42%
CHE	C	-0.41%
EVRG	B	-0.4%
DELL	D	-0.4%
DPZ	F	-0.39%
BSY	D	-0.39%
BMY	C	-0.38%
V	C	-0.36%
MSM	D	-0.35%
STWD	B	-0.34%
VRT	C	-0.33%
WEC	C	-0.29%
NNN	C	-0.25%
PEG	B	-0.25%
COST	B	-0.24%
MAS	B	-0.24%
MA	B	-0.22%
AVB	B	-0.19%
CAH	C	-0.16%
SCCO	D	-0.16%
ROL	C	-0.13%
WMT	C	-0.12%
ZTS	C	-0.12%
BAH	C	-0.12%
DDS	F	-0.1%