GQRE vs. QDEF ETF Comparison

Comparison of FlexShares Global Quality Real Estate Index Fund (GQRE) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

GQRE

FlexShares Global Quality Real Estate Index Fund

GQRE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Global Quality Real Estate IndexSM. The index is designed to measure the performance of companies that exhibit certain quality, valuation and momentum characteristics within a universe of publicly-traded equity securities of U.S. and non-U.S. real estate investment trusts and real estate companies. The fund will normally invest at least 80% of its total assets in the securities of the underlying index and in "ADRs" and "GDRs" based on the securities in its underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$61.16

Average Daily Volume

18,015

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

$72.79

Average Daily Volume

6,852

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	GQRE	QDEF
30 Days	-0.18%	1.58%
60 Days	-2.28%	2.63%
90 Days	1.56%	4.66%
12 Months	22.76%	30.49%

9 Overlapping Holdings

Symbol	Grade	Weight in GQRE	Weight in QDEF	Overlap
AMT	D	2.37%	0.82%	0.82%
AVB	B	4.37%	0.18%	0.18%
CPT	B	1.73%	0.51%	0.51%
CUBE	D	1.45%	0.4%	0.4%
EQR	B	3.36%	0.53%	0.53%
ESS	B	2.62%	0.54%	0.54%
NNN	D	1.04%	0.21%	0.21%
NSA	D	0.4%	0.47%	0.4%
PSA	D	0.64%	0.59%	0.59%

GQRE Overweight 54 Positions Relative to QDEF

Symbol	Grade	Weight
SPG	B	5.85%
DLR	B	5.76%
PLD	D	2.99%
VICI	C	2.46%
KIM	A	2.25%
UDR	B	1.88%
EQIX	A	1.74%
AMH	D	1.67%
HST	C	1.66%
REG	B	1.59%
LAMR	D	1.5%
WELL	A	1.42%
ADC	B	1.02%
FR	C	0.94%
VNO	B	0.91%
STAG	F	0.89%
KRG	B	0.8%
EPRT	B	0.77%
IRM	D	0.69%
SLG	B	0.66%
CUZ	B	0.64%
IRT	A	0.63%
KRC	C	0.6%
SBRA	C	0.57%
SKT	B	0.52%
APLE	B	0.47%
HIW	D	0.46%
EPR	D	0.45%
NHI	D	0.45%
WY	D	0.43%
BNL	D	0.43%
PK	B	0.42%
HASI	D	0.42%
O	D	0.41%
IIPR	D	0.4%
UE	C	0.38%
AKR	B	0.35%
IVT	B	0.3%
EQC	B	0.29%
LTC	B	0.28%
SHO	C	0.28%
XHR	B	0.28%
DBRG	F	0.28%
AAT	B	0.26%
ALEX	C	0.26%
DRH	B	0.26%
PDM	D	0.26%
ESRT	C	0.26%
CSR	B	0.24%
JOE	F	0.24%
RLJ	C	0.24%
NXRT	B	0.24%
CCI	D	0.19%
HPP	F	0.16%

GQRE Underweight 114 Positions Relative to QDEF

Symbol	Grade	Weight
AAPL	C	-6.07%
NVDA	C	-6.0%
MSFT	F	-4.97%
HD	A	-3.07%
JNJ	D	-2.93%
PG	A	-2.83%
META	D	-2.76%
ABBV	D	-2.6%
MRK	F	-2.25%
IBM	C	-1.7%
QCOM	F	-1.65%
PM	B	-1.65%
GOOGL	C	-1.36%
INTU	C	-1.29%
TMUS	B	-1.14%
ADP	B	-1.13%
GOOG	C	-1.1%
LMT	D	-1.05%
GILD	C	-1.03%
TJX	A	-0.99%
SBUX	A	-0.98%
AVGO	D	-0.88%
MO	A	-0.86%
CI	F	-0.83%
KLAC	D	-0.79%
T	A	-0.77%
DUK	C	-0.77%
ITW	B	-0.74%
MSI	B	-0.74%
JPM	A	-0.73%
CME	A	-0.71%
MCK	B	-0.71%
BK	A	-0.67%
MMM	D	-0.66%
VZ	C	-0.65%
UNM	A	-0.65%
KO	D	-0.65%
EME	C	-0.64%
BWXT	B	-0.64%
PAYX	C	-0.63%
UMBF	B	-0.61%
CSCO	B	-0.61%
FIS	C	-0.6%
EA	A	-0.6%
AFL	B	-0.6%
CFR	B	-0.6%
GEN	B	-0.59%
AIZ	A	-0.58%
WTW	B	-0.58%
FAST	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%
RMD	C	-0.54%
K	A	-0.53%
CSL	C	-0.53%
OHI	C	-0.53%
MET	A	-0.53%
MAA	B	-0.53%
PNW	B	-0.52%
IRDM	D	-0.52%
OTIS	C	-0.51%
KMB	D	-0.51%
XOM	B	-0.5%
OMF	A	-0.5%
LSTR	D	-0.49%
ED	D	-0.49%
AVY	D	-0.48%
DOX	D	-0.48%
BPOP	B	-0.48%
RDN	C	-0.48%
LOW	D	-0.47%
OGE	B	-0.47%
IPG	D	-0.46%
DELL	C	-0.46%
BMY	B	-0.45%
GIS	D	-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%
EVRG	A	-0.4%
EBAY	D	-0.4%
EXC	C	-0.39%
CHE	D	-0.39%
SWKS	F	-0.39%
V	A	-0.38%
MSM	C	-0.37%
BSY	D	-0.37%
STNG	F	-0.36%
STWD	C	-0.32%
NEP	F	-0.32%
WEC	A	-0.28%
PEG	A	-0.26%
COST	B	-0.24%
MA	C	-0.23%
MAS	D	-0.23%
CAH	B	-0.17%
SCCO	F	-0.16%
BAH	F	-0.12%
DDS	B	-0.12%
WMT	A	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%
BAC	A	-0.02%