PAPI vs. QDEF ETF Comparison

Comparison of Parametric Equity Premium Income ETF (PAPI) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

PAPI

Parametric Equity Premium Income ETF

PAPI Description

The fund is an actively managed exchange-traded fund. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Equity securities in which the fund may invest include common stocks.

Grade (RS Rating)

Last Trade

$27.43

Average Daily Volume

34,067

Number of Holdings ^*

189

* 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	PAPI	QDEF
30 Days	-0.81%	-1.09%
60 Days	1.91%	1.41%
90 Days	3.47%	3.61%
12 Months	16.89%	28.67%

47 Overlapping Holdings

Symbol	Grade	Weight in PAPI	Weight in QDEF	Overlap
ABBV	F	0.47%	2.6%	0.47%
ADP	B	0.56%	1.13%	0.56%
AFL	C	0.5%	0.6%	0.5%
CAH	B	0.58%	0.17%	0.17%
CFR	B	0.59%	0.6%	0.59%
CHE	F	0.49%	0.39%	0.39%
CI	D	0.5%	0.83%	0.5%
CME	A	0.52%	0.71%	0.52%
COR	B	0.55%	0.57%	0.55%
COST	A	0.55%	0.24%	0.24%
CSCO	B	0.55%	0.61%	0.55%
D	C	0.5%	0.56%	0.5%
DOX	D	0.53%	0.48%	0.48%
DUK	C	0.49%	0.77%	0.49%
EA	A	0.59%	0.6%	0.59%
ED	C	0.48%	0.49%	0.48%
EVRG	A	0.55%	0.4%	0.4%
EXPD	D	0.51%	0.42%	0.42%
FAST	B	0.56%	0.58%	0.56%
GILD	C	0.56%	1.03%	0.56%
IBM	C	0.47%	1.7%	0.47%
IPG	F	0.48%	0.46%	0.46%
JNJ	D	0.49%	2.93%	0.49%
KMB	C	0.48%	0.51%	0.48%
KO	D	0.46%	0.65%	0.46%
MO	A	0.57%	0.86%	0.57%
MRK	F	0.47%	2.25%	0.47%
MSFT	D	0.53%	4.97%	0.53%
MSM	D	0.57%	0.37%	0.37%
OGE	A	0.56%	0.47%	0.47%
ORI	A	0.53%	0.54%	0.53%
PAYX	B	0.55%	0.63%	0.55%
PEG	C	0.51%	0.26%	0.26%
PG	C	0.51%	2.83%	0.51%
PM	A	0.54%	1.65%	0.54%
PPL	A	0.54%	0.55%	0.54%
QCOM	F	0.5%	1.65%	0.5%
SCCO	F	0.0%	0.16%	0.0%
SWKS	F	0.47%	0.39%	0.39%
T	A	0.54%	0.77%	0.54%
TJX	A	0.54%	0.99%	0.54%
UNM	A	0.59%	0.65%	0.59%
VZ	C	0.48%	0.65%	0.48%
WEC	A	0.52%	0.28%	0.28%
WMT	A	0.54%	0.12%	0.12%
WU	F	0.47%	0.43%	0.43%
XOM	B	0.52%	0.5%	0.5%

PAPI Overweight 142 Positions Relative to QDEF

Symbol	Grade	Weight
GRMN	B	0.66%
SNA	B	0.64%
BKR	B	0.63%
IP	A	0.63%
IDCC	B	0.63%
DTM	A	0.61%
EMR	A	0.61%
PINC	B	0.61%
IDA	A	0.6%
FOXA	B	0.59%
JCI	B	0.59%
RHI	C	0.59%
PB	A	0.59%
LH	B	0.59%
FOX	A	0.59%
OKE	A	0.59%
CINF	A	0.58%
RS	B	0.58%
JHG	B	0.58%
TAP	B	0.58%
WMB	A	0.58%
INGR	B	0.58%
TXRH	B	0.57%
UNH	C	0.57%
SRE	A	0.57%
WSO	A	0.57%
PKG	B	0.57%
DGX	A	0.57%
KMI	A	0.57%
TROW	B	0.56%
MTN	C	0.56%
TXN	C	0.56%
CTRA	B	0.56%
TRV	A	0.56%
AFG	A	0.56%
CMI	A	0.56%
SYK	A	0.56%
RF	A	0.56%
XEL	A	0.56%
AEE	A	0.55%
ATR	B	0.55%
HPE	B	0.55%
HP	C	0.55%
CMCSA	B	0.55%
CVX	A	0.55%
EOG	A	0.55%
GLW	B	0.55%
DCI	B	0.55%
COP	B	0.55%
CTSH	C	0.55%
LHX	B	0.55%
WHR	B	0.55%
ATO	A	0.54%
GNTX	F	0.54%
PAG	B	0.54%
GGG	B	0.54%
GD	D	0.54%
BMI	C	0.54%
DRI	C	0.54%
OXM	F	0.53%
HPQ	B	0.53%
CHRD	F	0.53%
POWI	D	0.53%
COLM	B	0.53%
AM	A	0.53%
ROP	C	0.53%
VLO	C	0.53%
CHD	A	0.53%
OGS	A	0.53%
MDT	D	0.52%
OMC	C	0.52%
NFG	A	0.52%
CALM	A	0.52%
ABT	A	0.52%
PRU	B	0.52%
MOS	D	0.52%
NYT	D	0.52%
DLB	F	0.52%
LNT	A	0.51%
BDX	F	0.51%
DINO	D	0.51%
DD	D	0.51%
PSX	C	0.51%
ADI	D	0.51%
ACN	C	0.51%
HIG	B	0.51%
POR	C	0.51%
CTVA	C	0.51%
FNF	A	0.51%
HRL	D	0.51%
LKQ	F	0.51%
AVT	C	0.51%
SNX	D	0.51%
RTX	D	0.51%
DVN	F	0.5%
PEP	F	0.5%
CCOI	B	0.5%
FE	C	0.5%
SO	C	0.5%
APD	A	0.5%
JKHY	D	0.5%
MTG	D	0.5%
PFG	C	0.5%
UPS	C	0.5%
RGLD	C	0.5%
EMN	D	0.49%
LEA	F	0.49%
FLO	D	0.49%
CAG	F	0.49%
SON	F	0.49%
LIN	D	0.49%
LYB	F	0.48%
KDP	D	0.48%
AOS	F	0.48%
PPG	F	0.48%
AEP	C	0.48%
BG	D	0.48%
WEN	C	0.48%
SHOO	D	0.48%
RPRX	F	0.48%
ESNT	D	0.47%
AMCR	D	0.47%
HAS	D	0.47%
FMC	D	0.47%
KHC	F	0.47%
DHR	D	0.47%
BBY	D	0.47%
ADM	D	0.46%
ASH	F	0.46%
LEN	D	0.46%
PFE	F	0.46%
DOW	F	0.45%
MAN	F	0.45%
INSW	F	0.45%
GPC	F	0.45%
HUN	F	0.44%
ELV	F	0.44%
PII	F	0.42%
CVI	D	0.41%
HII	F	0.41%
CRI	F	0.4%
NEM	D	0.39%

PAPI Underweight 76 Positions Relative to QDEF

Symbol	Grade	Weight
AAPL	C	-6.07%
NVDA	A	-6.0%
HD	A	-3.07%
META	C	-2.76%
GOOGL	B	-1.36%
INTU	B	-1.29%
TMUS	B	-1.14%
GOOG	B	-1.1%
LMT	D	-1.05%
SBUX	A	-0.98%
AVGO	C	-0.88%
AMT	D	-0.82%
KLAC	F	-0.79%
ITW	B	-0.74%
MSI	B	-0.74%
JPM	A	-0.73%
MCK	A	-0.71%
BK	B	-0.67%
MMM	D	-0.66%
EME	A	-0.64%
BWXT	A	-0.64%
UMBF	B	-0.61%
FIS	C	-0.6%
GEN	B	-0.59%
PSA	C	-0.59%
AIZ	A	-0.58%
WTW	B	-0.58%
VIRT	A	-0.57%
CSWI	A	-0.57%
LDOS	C	-0.57%
VRSK	B	-0.57%
WDFC	B	-0.55%
ESS	A	-0.54%
RMD	C	-0.54%
K	B	-0.53%
CSL	C	-0.53%
OHI	B	-0.53%
MET	A	-0.53%
EQR	C	-0.53%
MAA	A	-0.53%
PNW	B	-0.52%
IRDM	F	-0.52%
CPT	C	-0.51%
OTIS	C	-0.51%
OMF	A	-0.5%
LSTR	D	-0.49%
AVY	D	-0.48%
BPOP	C	-0.48%
RDN	D	-0.48%
LOW	C	-0.47%
NSA	C	-0.47%
DELL	B	-0.46%
BMY	A	-0.45%
GIS	F	-0.45%
VRT	A	-0.45%
HRB	D	-0.45%
SAIC	F	-0.41%
WSM	D	-0.41%
DPZ	C	-0.41%
CUBE	C	-0.4%
EBAY	D	-0.4%
EXC	C	-0.39%
V	A	-0.38%
BSY	D	-0.37%
STNG	D	-0.36%
STWD	C	-0.32%
NEP	F	-0.32%
MA	B	-0.23%
MAS	D	-0.23%
NNN	C	-0.21%
AVB	B	-0.18%
BAH	D	-0.12%
DDS	B	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%
BAC	A	-0.02%