GQRE vs. SRS ETF Comparison

Comparison of FlexShares Global Quality Real Estate Index Fund (GQRE) to ProShares UltraShort Real Estate (SRS)

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

SRS

ProShares UltraShort Real Estate

SRS Description

The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. Real EstateSM Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as two times the inverse (-2x) of the daily return of the index. The index measures the performance of the real estate sector of the U.S. equity market. Component companies include, among others, real estate holding and development and real estate services companies and real estate investment trusts ("REITs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$45.72

Average Daily Volume

14,715

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GQRE	SRS
30 Days	-0.18%	1.06%
60 Days	-2.28%	4.22%
90 Days	1.56%	-2.87%
12 Months	22.76%	-33.05%

41 Overlapping Holdings

Symbol	Grade	Weight in GQRE	Weight in SRS	Overlap
AMH	D	1.67%	0.54%	0.54%
AMT	D	2.37%	8.05%	2.37%
APLE	B	0.47%	0.26%	0.26%
AVB	B	4.37%	2.35%	2.35%
CCI	D	0.19%	4.7%	0.19%
CPT	B	1.73%	0.83%	0.83%
CUBE	D	1.45%	0.47%	0.47%
CUZ	B	0.64%	0.48%	0.48%
DLR	B	5.76%	2.02%	2.02%
EPR	D	0.45%	0.44%	0.44%
EQC	B	0.29%	0.31%	0.29%
EQIX	A	1.74%	3.91%	1.74%
EQR	B	3.36%	2.24%	2.24%
ESS	B	2.62%	1.59%	1.59%
FR	C	0.94%	0.42%	0.42%
HIW	D	0.46%	0.41%	0.41%
HPP	F	0.16%	0.45%	0.16%
HST	C	1.66%	1.0%	1.0%
IRM	D	0.69%	0.7%	0.69%
KIM	A	2.25%	0.67%	0.67%
KRC	C	0.6%	0.63%	0.6%
LAMR	D	1.5%	0.62%	0.62%
NHI	D	0.45%	0.29%	0.29%
NNN	D	1.04%	0.74%	0.74%
O	D	0.41%	1.94%	0.41%
PDM	D	0.26%	0.23%	0.23%
PK	B	0.42%	0.46%	0.42%
PLD	D	2.99%	4.64%	2.99%
PSA	D	0.64%	2.58%	0.64%
REG	B	1.59%	0.82%	0.82%
RLJ	C	0.24%	0.23%	0.23%
SBRA	C	0.57%	0.33%	0.33%
SHO	C	0.28%	0.24%	0.24%
SLG	B	0.66%	0.58%	0.58%
SPG	B	5.85%	3.53%	3.53%
UDR	B	1.88%	1.08%	1.08%
VICI	C	2.46%	0.76%	0.76%
VNO	B	0.91%	0.83%	0.83%
WELL	A	1.42%	2.73%	1.42%
WY	D	0.43%	1.8%	0.43%
XHR	B	0.28%	0.18%	0.18%

GQRE Overweight 22 Positions Relative to SRS

Symbol	Grade	Weight
ADC	B	1.02%
STAG	F	0.89%
KRG	B	0.8%
EPRT	B	0.77%
IRT	A	0.63%
SKT	B	0.52%
BNL	D	0.43%
HASI	D	0.42%
IIPR	D	0.4%
NSA	D	0.4%
UE	C	0.38%
AKR	B	0.35%
IVT	B	0.3%
LTC	B	0.28%
DBRG	F	0.28%
AAT	B	0.26%
ALEX	C	0.26%
DRH	B	0.26%
ESRT	C	0.26%
CSR	B	0.24%
JOE	F	0.24%
NXRT	B	0.24%

GQRE Underweight 46 Positions Relative to SRS

Symbol	Grade	Weight
SBAC	D	-2.21%
CSGP	D	-1.85%
VTR	C	-1.71%
CBRE	B	-1.59%
BXP	D	-1.56%
ARE	D	-1.46%
DOC	D	-1.4%
INVH	D	-1.28%
MAA	B	-1.19%
EXR	D	-1.13%
WPC	D	-1.12%
SUI	D	-1.12%
NLY	C	-1.08%
ELS	C	-1.0%
MPW	F	-0.9%
AGNC	D	-0.77%
OHI	C	-0.74%
GLPI	C	-0.72%
FRT	B	-0.71%
JLL	D	-0.69%
AIV	C	-0.61%
STWD	C	-0.56%
DEI	B	-0.54%
COLD	D	-0.53%
BRX	A	-0.48%
HHH	B	-0.42%
EGP	F	-0.41%
REXR	F	-0.41%
BXMT	C	-0.39%
RHP	B	-0.37%
JBGS	D	-0.37%
HR	C	-0.36%
TWO	D	-0.32%
OUT	A	-0.32%
RYN	D	-0.32%
CIM	D	-0.31%
SVC	F	-0.31%
DSS	F	-0.28%
MFA	D	-0.28%
PEB	D	-0.26%
PCH	D	-0.23%
BDN	C	-0.22%
PGRE	F	-0.22%
MAC	B	-0.22%
LXP	D	-0.21%
IVR	F	-0.19%