FNK vs. QDEF ETF Comparison

Comparison of First Trust Mid Cap Value AlphaDEX Fund (FNK) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

FNK

First Trust Mid Cap Value AlphaDEX Fund

FNK Description

The investment seeks results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Defined Mid Cap Value Index. The fund will normally invest at least 90% of its net assets in common stocks that comprise the index. The index is a modified equal-dollar weighted index designed by S&P to objectively identify and select stocks from the S&P MidCap 400(R) Value Index that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX(R) selection methodology. It is non-diversified.

Grade (RS Rating)

Last Trade

$55.26

Average Daily Volume

9,353

Number of Holdings ^*

223

* 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

$71.73

Average Daily Volume

6,798

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	FNK	QDEF
30 Days	0.29%	-1.09%
60 Days	2.29%	1.41%
90 Days	4.08%	3.61%
12 Months	22.57%	28.67%

16 Overlapping Holdings

Symbol	Grade	Weight in FNK	Weight in QDEF	Overlap
AIZ	A	0.3%	0.55%	0.3%
BPOP	C	0.14%	0.47%	0.14%
DDS	B	0.57%	0.11%	0.11%
EVRG	A	0.57%	0.39%	0.39%
IPG	F	0.26%	0.46%	0.26%
LSTR	D	0.14%	0.49%	0.14%
MSM	D	0.3%	0.38%	0.3%
OGE	A	0.45%	0.48%	0.45%
OMF	A	0.5%	0.49%	0.49%
ORI	A	0.29%	0.52%	0.29%
PNW	B	0.58%	0.52%	0.52%
RDN	D	0.7%	0.46%	0.46%
STWD	C	0.14%	0.31%	0.14%
UMBF	B	0.17%	0.6%	0.17%
UNM	A	0.67%	0.62%	0.62%
WU	F	0.38%	0.43%	0.38%

FNK Overweight 207 Positions Relative to QDEF

Symbol	Grade	Weight
JXN	C	0.87%
CNX	A	0.86%
HP	C	0.85%
MTDR	C	0.82%
NOG	B	0.82%
ATKR	D	0.8%
PTEN	C	0.8%
CMC	B	0.8%
HCC	B	0.79%
OSK	C	0.79%
AGO	A	0.79%
SM	C	0.78%
OVV	C	0.78%
NFE	F	0.76%
AL	B	0.75%
TEX	D	0.74%
AMG	C	0.74%
TAP	B	0.74%
CIVI	D	0.73%
NOV	D	0.73%
TMHC	B	0.73%
AMR	C	0.72%
PVH	C	0.72%
URBN	C	0.72%
LBRDK	C	0.72%
CHRD	F	0.71%
MUR	F	0.7%
PBF	D	0.7%
MTG	D	0.69%
CADE	B	0.69%
LAD	B	0.68%
RUSHA	B	0.68%
MHO	D	0.68%
RNR	C	0.68%
LBRT	F	0.67%
DINO	D	0.67%
G	B	0.67%
TPH	D	0.67%
BWA	D	0.67%
UGI	C	0.67%
MATX	B	0.66%
DAR	B	0.65%
MTH	D	0.65%
MGY	A	0.64%
OZK	B	0.64%
APA	F	0.64%
R	B	0.64%
CNO	B	0.64%
LNC	B	0.64%
JAZZ	C	0.64%
LEA	F	0.63%
FMC	D	0.63%
RRC	B	0.63%
DXC	D	0.62%
COOP	B	0.62%
GPI	B	0.61%
ASO	F	0.61%
ESNT	D	0.61%
ADTN	A	0.6%
KRC	C	0.6%
BEN	C	0.6%
HRI	C	0.6%
HOG	F	0.6%
AAP	D	0.59%
OTTR	C	0.59%
MOS	D	0.59%
CNXC	F	0.59%
BKH	A	0.58%
AVT	C	0.58%
SOLV	F	0.58%
HST	D	0.58%
NFG	A	0.57%
BCC	C	0.57%
GBDC	B	0.57%
BBWI	C	0.56%
POR	C	0.56%
FHN	A	0.55%
M	D	0.55%
CLF	F	0.55%
SR	A	0.55%
SIG	C	0.54%
ZION	B	0.54%
SUM	B	0.54%
WBS	A	0.54%
KBH	D	0.54%
WCC	B	0.53%
MDU	D	0.53%
ARW	F	0.51%
COLB	B	0.51%
UHS	D	0.51%
SANM	B	0.51%
AMKR	F	0.5%
FNB	B	0.5%
VLY	B	0.48%
JBL	C	0.48%
GMS	B	0.48%
BYD	B	0.48%
ALK	A	0.48%
ABG	B	0.47%
BERY	D	0.46%
INGR	B	0.46%
WHR	B	0.45%
RIG	D	0.45%
NXST	C	0.44%
SWX	A	0.44%
THO	C	0.44%
AXS	A	0.44%
OGS	A	0.43%
SNX	D	0.43%
GL	C	0.43%
LKQ	F	0.42%
PAG	B	0.42%
BC	D	0.42%
ENS	D	0.41%
SJM	D	0.4%
AN	D	0.4%
POST	C	0.4%
EMN	D	0.39%
OLN	F	0.39%
SON	F	0.39%
ASH	F	0.38%
OGN	F	0.36%
MLI	B	0.36%
WTFC	B	0.35%
PII	F	0.35%
VNT	C	0.34%
BECN	B	0.34%
AEO	F	0.34%
UBSI	B	0.33%
HGV	C	0.33%
HII	F	0.33%
SEIC	B	0.33%
HWC	B	0.33%
CMA	B	0.33%
CRL	D	0.32%
ACA	A	0.32%
BOKF	B	0.32%
CRC	A	0.32%
IDA	A	0.32%
ABCB	B	0.32%
PB	A	0.32%
KNX	B	0.31%
AR	B	0.31%
UFPI	C	0.3%
KFY	B	0.3%
ASGN	F	0.3%
ALKS	C	0.3%
CUZ	B	0.3%
SLGN	A	0.29%
WTRG	B	0.29%
PNM	B	0.29%
SLM	B	0.29%
LPX	B	0.29%
MMS	D	0.28%
TNET	F	0.28%
MIDD	D	0.28%
COLM	B	0.28%
JWN	C	0.28%
DIOD	F	0.27%
TKR	F	0.26%
SKX	F	0.26%
UHAL	D	0.26%
AGCO	F	0.26%
FIVE	F	0.26%
REYN	D	0.25%
WPC	C	0.25%
PNFP	B	0.18%
JEF	A	0.17%
EPAM	C	0.17%
PFGC	B	0.16%
UCB	A	0.16%
RHI	C	0.16%
SSB	B	0.16%
AUB	B	0.16%
SEM	B	0.16%
GXO	B	0.16%
AVNT	B	0.15%
IVZ	C	0.15%
FLR	B	0.15%
VOYA	B	0.15%
FELE	B	0.15%
AFG	A	0.15%
MUSA	B	0.15%
WAL	B	0.15%
BJ	B	0.15%
TPR	B	0.15%
DNB	B	0.15%
CZR	F	0.14%
FAF	C	0.14%
LFUS	D	0.14%
FUL	F	0.14%
WD	D	0.14%
SEE	D	0.14%
TTC	F	0.14%
NJR	A	0.14%
ALIT	C	0.14%
PRGO	C	0.14%
MAT	D	0.14%
SKY	A	0.14%
WTS	B	0.14%
IAC	D	0.14%
NSP	F	0.13%
HSIC	C	0.13%
MGM	D	0.13%
RYN	D	0.13%
FBIN	F	0.12%
OPCH	F	0.1%

FNK Underweight 107 Positions Relative to QDEF

Symbol	Grade	Weight
AAPL	C	-5.95%
NVDA	A	-5.95%
MSFT	D	-4.85%
HD	A	-3.03%
ABBV	F	-3.02%
JNJ	D	-2.96%
PG	C	-2.8%
META	C	-2.78%
MRK	F	-2.32%
IBM	C	-1.71%
QCOM	F	-1.7%
PM	A	-1.61%
GOOGL	B	-1.36%
INTU	B	-1.24%
ADP	B	-1.12%
TMUS	B	-1.11%
GOOG	B	-1.1%
LMT	D	-1.08%
GILD	C	-1.07%
TJX	A	-0.96%
SBUX	A	-0.95%
AVGO	C	-0.94%
AMT	D	-0.84%
KLAC	F	-0.83%
MO	A	-0.83%
CI	D	-0.81%
DUK	C	-0.78%
T	A	-0.76%
MSI	B	-0.75%
ITW	B	-0.73%
CME	A	-0.71%
MCK	A	-0.71%
JPM	A	-0.7%
KO	D	-0.66%
BK	B	-0.66%
MMM	D	-0.66%
LDOS	C	-0.66%
EME	A	-0.65%
PAYX	B	-0.64%
VZ	C	-0.63%
BWXT	A	-0.61%
CFR	B	-0.6%
PSA	C	-0.6%
CSCO	B	-0.6%
AFL	C	-0.59%
FIS	C	-0.59%
CSWI	A	-0.58%
RMD	C	-0.58%
FAST	B	-0.58%
GEN	B	-0.57%
EA	A	-0.57%
COR	B	-0.57%
WTW	B	-0.57%
VRSK	B	-0.56%
D	C	-0.56%
PPL	A	-0.54%
VIRT	A	-0.54%
OHI	B	-0.54%
MAA	A	-0.53%
WDFC	B	-0.53%
ESS	A	-0.53%
CSL	C	-0.52%
K	B	-0.52%
EQR	C	-0.52%
CPT	C	-0.51%
DOX	D	-0.51%
MET	A	-0.51%
KMB	C	-0.51%
IRDM	F	-0.51%
ED	C	-0.5%
OTIS	C	-0.5%
XOM	B	-0.49%
NSA	C	-0.48%
SAIC	F	-0.48%
AVY	D	-0.48%
DELL	B	-0.46%
LOW	C	-0.46%
VRT	A	-0.46%
HRB	D	-0.45%
GIS	F	-0.45%
DPZ	C	-0.43%
BMY	A	-0.41%
SWKS	F	-0.41%
EXPD	D	-0.41%
WSM	D	-0.4%
CUBE	C	-0.4%
EBAY	D	-0.39%
CHE	F	-0.38%
EXC	C	-0.38%
BSY	D	-0.37%
V	A	-0.37%
STNG	D	-0.35%
NEP	F	-0.33%
WEC	A	-0.28%
PEG	C	-0.25%
MAS	D	-0.24%
COST	A	-0.24%
MA	B	-0.23%
NNN	C	-0.21%
AVB	B	-0.18%
CAH	B	-0.17%
SCCO	F	-0.17%
BAH	D	-0.14%
WMT	A	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%
BAC	A	-0.02%