NXTV vs. QLV ETF Comparison

Comparison of Simplify Next Intangible Value Index ETF (NXTV) to FlexShares US Quality Low Volatility Index Fund (QLV)

NXTV

Simplify Next Intangible Value Index ETF

NXTV Description

NXTV targets US companies with low equity valuations relative to their intangible-adjusted book values within their respective sectors. The fund defines intangible capital as productive assets that lack physical presence and are created through investments in brand, knowledge, and organization capital. The index construction starts by calculating an intangible-adjusted book value for each security in an initial universe consisting of the largest 2000 US companies by market-cap. The 200 stocks with the lowest equity valuations relative to their intangible adjusted book values are selected for inclusion. At least five stocks are included from each of the 13 sectors determined by the index provider using a combination of SIC and NAICS codes along with data from publicly available 10-K filings. Holdings are weighted by market capitalization, with individual security weights capped at 5%. The index reconstitutes quarterly.

Grade (RS Rating)

Last Trade

$28.86

Average Daily Volume

732

Number of Holdings ^*

194

* may have additional holdings in another (foreign) market

QLV

FlexShares US Quality Low Volatility Index Fund

QLV Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Developed Markets ex-US Quality Low Volatility IndexSM. The underlying index is designed to reflect the performance of a selection of companies that, in aggregate, possess lower overall absolute volatility characteristics relative to a broad universe of securities domiciled in developed market countries, excluding the U.S. The fund will 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 the underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$67.22

Average Daily Volume

10,357

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

Performance

Period	NXTV	QLV
30 Days	5.48%	0.23%
60 Days	5.83%	1.42%
90 Days	10.13%	3.24%
12 Months		25.29%

16 Overlapping Holdings

Symbol	Grade	Weight in NXTV	Weight in QLV	Overlap
AIZ	A	0.16%	0.86%	0.16%
ALKS	B	0.12%	0.19%	0.12%
ALL	A	0.74%	0.63%	0.63%
CINF	A	0.33%	0.6%	0.33%
CTRA	B	0.45%	0.57%	0.45%
CTVA	C	0.62%	0.59%	0.59%
DDS	B	0.27%	0.29%	0.27%
ED	D	0.36%	0.79%	0.36%
L	A	0.27%	0.11%	0.11%
MKL	A	0.34%	0.54%	0.34%
SON	D	0.13%	0.48%	0.13%
T	A	5.05%	1.51%	1.51%
TRV	B	0.83%	0.67%	0.67%
VZ	C	4.68%	1.64%	1.64%
WRB	A	0.34%	0.55%	0.34%
ZM	B	0.96%	0.67%	0.67%

NXTV Overweight 178 Positions Relative to QLV

Symbol	Grade	Weight
CMCSA	B	5.48%
PFE	D	4.63%
INTC	D	3.52%
DELL	C	3.41%
C	A	1.95%
KR	B	1.77%
HPQ	B	1.47%
FDX	B	1.15%
EBAY	D	1.1%
CVS	D	1.08%
HPE	B	1.06%
GM	B	1.04%
NTAP	C	0.98%
COF	B	0.96%
WDC	D	0.92%
BBY	D	0.91%
GFS	C	0.91%
VICI	C	0.85%
FOXA	B	0.83%
MET	A	0.83%
BIIB	F	0.78%
DG	F	0.76%
SNAP	C	0.75%
AIG	B	0.75%
EL	F	0.74%
NWS	B	0.72%
F	C	0.72%
FCNCA	A	0.71%
DD	D	0.69%
PRU	A	0.67%
NUE	C	0.67%
ZBH	C	0.64%
KHC	F	0.62%
DLTR	F	0.61%
LEN	D	0.6%
ILMN	D	0.58%
SYY	B	0.57%
MRNA	F	0.57%
TWLO	A	0.55%
HUM	C	0.55%
JNPR	F	0.54%
CACI	D	0.53%
BAX	D	0.53%
SRE	A	0.53%
D	C	0.5%
ACI	C	0.49%
TPR	B	0.48%
CNC	D	0.48%
IP	B	0.47%
PCG	A	0.46%
LBRDK	C	0.46%
CCL	B	0.45%
ALB	C	0.43%
SNX	C	0.42%
VTRS	A	0.42%
INCY	C	0.41%
ADM	D	0.4%
PPG	F	0.39%
EQT	B	0.39%
UAL	A	0.39%
MRO	B	0.39%
RS	B	0.38%
EXC	C	0.38%
FYBR	D	0.37%
GAP	C	0.37%
CIEN	B	0.36%
EXPE	B	0.36%
SOLV	C	0.35%
FLEX	A	0.35%
DBX	B	0.34%
LUV	C	0.34%
SYF	B	0.34%
ETR	B	0.32%
TSN	B	0.32%
PATH	C	0.31%
LEVI	F	0.3%
CFG	B	0.3%
FTI	A	0.3%
PFG	D	0.29%
CRBG	B	0.29%
BILL	A	0.29%
PEGA	A	0.29%
GPC	D	0.28%
ARE	D	0.28%
SWK	D	0.28%
EXEL	B	0.27%
OVV	B	0.27%
HSIC	B	0.27%
U	C	0.27%
AMKR	D	0.26%
TXT	D	0.26%
BIO	D	0.26%
EG	C	0.24%
BLDR	D	0.24%
PPL	B	0.24%
FNF	B	0.24%
WCC	B	0.23%
VFC	C	0.23%
NSIT	F	0.23%
LUMN	C	0.23%
SATS	D	0.23%
PFGC	B	0.22%
RGA	A	0.22%
USM	B	0.22%
SNA	A	0.22%
EQH	B	0.22%
AIT	A	0.22%
KD	B	0.22%
CNH	C	0.21%
RPM	A	0.21%
CPB	D	0.21%
W	F	0.21%
ROKU	D	0.21%
RNR	C	0.21%
M	D	0.2%
JEF	A	0.2%
JLL	D	0.2%
ELAN	D	0.2%
CLVT	F	0.2%
CNA	B	0.2%
ALLY	C	0.2%
KMX	B	0.2%
JAZZ	B	0.2%
COTY	F	0.19%
RIVN	F	0.19%
PAG	B	0.19%
AR	B	0.19%
RHI	B	0.18%
UPST	B	0.18%
BG	F	0.18%
UNM	A	0.18%
AA	B	0.18%
TOL	B	0.18%
DINO	D	0.18%
COKE	C	0.17%
ARW	D	0.17%
AEO	F	0.17%
IAC	D	0.17%
JWN	C	0.17%
TAP	C	0.17%
ADTN	A	0.17%
LKQ	D	0.17%
FLS	B	0.17%
SIG	B	0.16%
ALIT	C	0.16%
BWA	D	0.16%
NI	A	0.16%
NOV	C	0.16%
PVH	C	0.16%
WHR	B	0.16%
ZI	D	0.16%
BEN	C	0.16%
WFRD	D	0.15%
X	C	0.15%
CLF	F	0.15%
LAD	A	0.15%
GL	B	0.15%
DXC	B	0.15%
URBN	C	0.15%
ASO	F	0.15%
FRSH	C	0.15%
SANM	B	0.15%
XRAY	F	0.14%
SLAB	D	0.14%
EVRG	A	0.14%
ORI	A	0.14%
AGR	B	0.14%
FHN	A	0.14%
CIVI	D	0.13%
INGR	B	0.13%
CXT	B	0.13%
WBD	C	0.13%
MUR	D	0.12%
CPRI	F	0.1%
LCID	F	0.09%
MGM	D	0.08%
BYD	C	0.05%
DLB	B	0.05%

NXTV Underweight 98 Positions Relative to QLV

Symbol	Grade	Weight
MSFT	F	-7.68%
NVDA	C	-5.54%
AAPL	C	-5.17%
PG	A	-3.25%
AMZN	C	-2.41%
LLY	F	-2.31%
MRK	F	-2.28%
V	A	-2.26%
MCD	D	-1.93%
IBM	C	-1.82%
JNJ	D	-1.71%
PEP	F	-1.47%
META	D	-1.25%
XOM	B	-1.15%
TMUS	B	-1.13%
GILD	C	-1.07%
LMT	D	-1.06%
ABBV	D	-0.96%
CME	A	-0.94%
ABT	B	-0.93%
ADP	B	-0.92%
DUK	C	-0.9%
QLYS	C	-0.88%
GOOGL	C	-0.88%
WEC	A	-0.86%
ATR	B	-0.86%
WTW	B	-0.85%
TXN	C	-0.84%
PSA	D	-0.84%
RGLD	C	-0.83%
TYL	B	-0.8%
WDFC	B	-0.8%
K	A	-0.77%
DOX	D	-0.74%
CHE	D	-0.73%
GIS	D	-0.72%
CHKP	D	-0.72%
AMGN	D	-0.71%
LSTR	D	-0.71%
CB	C	-0.71%
SO	D	-0.69%
DLR	B	-0.68%
QGEN	D	-0.67%
WM	A	-0.67%
DTM	B	-0.67%
CALM	A	-0.65%
XEL	A	-0.64%
EQIX	A	-0.64%
AVY	D	-0.63%
PKG	A	-0.63%
GOOG	C	-0.62%
SMMT	D	-0.59%
RSG	A	-0.59%
NOC	D	-0.59%
BRK.A	B	-0.59%
AEE	A	-0.58%
GD	F	-0.58%
WCN	A	-0.58%
AZO	C	-0.55%
STNG	F	-0.55%
AEP	D	-0.54%
CMS	C	-0.54%
SCI	B	-0.54%
JKHY	D	-0.53%
ADC	B	-0.53%
PNW	B	-0.53%
SIGI	C	-0.53%
CHRW	C	-0.49%
TSCO	D	-0.49%
BAH	F	-0.47%
FLO	D	-0.47%
TTEK	F	-0.46%
REGN	F	-0.45%
HSY	F	-0.45%
NBIX	C	-0.43%
HRL	D	-0.4%
VRSK	A	-0.39%
NFG	A	-0.38%
AVGO	D	-0.38%
HII	D	-0.36%
BMRN	D	-0.35%
MCK	B	-0.35%
SLGN	A	-0.34%
BMI	B	-0.27%
CRUS	D	-0.26%
EA	A	-0.23%
JPM	A	-0.21%
PM	B	-0.21%
COR	B	-0.2%
LIN	D	-0.19%
ADI	D	-0.15%
NCNO	B	-0.13%
CAG	D	-0.13%
ROP	B	-0.13%
CWAN	B	-0.09%
UNH	C	-0.07%
MMC	B	-0.05%
EXPD	D	-0.03%