QDEF vs. FCTR ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to First Trust Lunt U.S. Factor Rotation ETF (FCTR)

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

FCTR

First Trust Lunt U.S. Factor Rotation ETF

FCTR Description

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Lunt Capital Large Cap Factor Rotation Index (the "index"). The fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the index. The index is designed to provide exposure to U.S. large cap equities grouped into four separate factors, with factors emphasized within the index as they come into favor in the U.S. marketplace. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.76

Average Daily Volume

7,787

Number of Holdings ^*

166

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	FCTR
30 Days	1.58%	9.38%
60 Days	2.63%	12.16%
90 Days	4.66%	17.79%
12 Months	30.49%	36.88%

39 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in FCTR	Overlap
AAPL	C	6.07%	0.66%	0.66%
ADP	B	1.13%	1.1%	1.1%
AFL	B	0.6%	0.4%	0.4%
AMT	D	0.82%	0.34%	0.34%
AVB	B	0.18%	0.43%	0.18%
AVGO	D	0.88%	0.43%	0.43%
BSY	D	0.37%	0.37%	0.37%
COST	B	0.24%	0.34%	0.24%
CSCO	B	0.61%	0.25%	0.25%
CSL	C	0.53%	0.33%	0.33%
DPZ	C	0.41%	0.45%	0.41%
DUK	C	0.77%	0.49%	0.49%
ED	D	0.49%	0.43%	0.43%
EME	C	0.64%	0.77%	0.64%
EQR	B	0.53%	0.4%	0.4%
EXC	C	0.39%	0.4%	0.39%
FAST	B	0.58%	0.52%	0.52%
GIS	D	0.45%	0.35%	0.35%
INTU	C	1.29%	0.37%	0.37%
ITW	B	0.74%	0.84%	0.74%
KLAC	D	0.79%	0.32%	0.32%
KMB	D	0.51%	0.39%	0.39%
KO	D	0.65%	0.52%	0.52%
LDOS	C	0.57%	0.8%	0.57%
LMT	D	1.05%	0.45%	0.45%
MA	C	0.23%	1.36%	0.23%
META	D	2.76%	0.45%	0.45%
MSFT	F	4.97%	0.36%	0.36%
MSI	B	0.74%	1.73%	0.74%
NVDA	C	6.0%	0.77%	0.77%
PAYX	C	0.63%	1.42%	0.63%
PG	A	2.83%	0.52%	0.52%
PPL	B	0.55%	0.51%	0.51%
PSA	D	0.59%	0.34%	0.34%
ROL	B	0.12%	0.9%	0.12%
TJX	A	0.99%	0.6%	0.6%
V	A	0.38%	1.34%	0.38%
VRSK	A	0.57%	0.93%	0.57%
WEC	A	0.28%	0.48%	0.28%

QDEF Overweight 84 Positions Relative to FCTR

Symbol	Grade	Weight
HD	A	3.07%
JNJ	D	2.93%
ABBV	D	2.6%
MRK	F	2.25%
IBM	C	1.7%
QCOM	F	1.65%
PM	B	1.65%
GOOGL	C	1.36%
TMUS	B	1.14%
GOOG	C	1.1%
GILD	C	1.03%
SBUX	A	0.98%
MO	A	0.86%
CI	F	0.83%
T	A	0.77%
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%
BWXT	B	0.64%
UMBF	B	0.61%
FIS	C	0.6%
EA	A	0.6%
CFR	B	0.6%
GEN	B	0.59%
AIZ	A	0.58%
WTW	B	0.58%
VIRT	B	0.57%
CSWI	A	0.57%
COR	B	0.57%
D	C	0.56%
WDFC	B	0.55%
ORI	A	0.54%
ESS	B	0.54%
RMD	C	0.54%
K	A	0.53%
OHI	C	0.53%
MET	A	0.53%
MAA	B	0.53%
PNW	B	0.52%
IRDM	D	0.52%
CPT	B	0.51%
OTIS	C	0.51%
XOM	B	0.5%
OMF	A	0.5%
LSTR	D	0.49%
AVY	D	0.48%
DOX	D	0.48%
BPOP	B	0.48%
RDN	C	0.48%
LOW	D	0.47%
NSA	D	0.47%
OGE	B	0.47%
IPG	D	0.46%
DELL	C	0.46%
BMY	B	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%
CUBE	D	0.4%
EVRG	A	0.4%
EBAY	D	0.4%
CHE	D	0.39%
SWKS	F	0.39%
MSM	C	0.37%
STNG	F	0.36%
STWD	C	0.32%
NEP	F	0.32%
PEG	A	0.26%
MAS	D	0.23%
NNN	D	0.21%
CAH	B	0.17%
SCCO	F	0.16%
BAH	F	0.12%
DDS	B	0.12%
WMT	A	0.12%
ZTS	D	0.11%
BAC	A	0.02%

QDEF Underweight 127 Positions Relative to FCTR

Symbol	Grade	Weight
APP	B	-3.82%
PLTR	B	-2.43%
MSTR	C	-2.06%
VST	B	-1.86%
FICO	B	-1.51%
AXON	A	-1.45%
BR	A	-1.37%
SYK	C	-1.36%
ANET	C	-1.24%
CTAS	B	-1.05%
ARES	A	-1.04%
APO	B	-1.03%
CL	D	-1.01%
TDG	D	-0.99%
YUM	B	-0.95%
BRO	B	-0.94%
HOOD	B	-0.92%
FI	A	-0.92%
ISRG	A	-0.91%
FDS	B	-0.9%
VRSN	F	-0.87%
TT	A	-0.82%
THC	D	-0.81%
ACGL	D	-0.8%
HWM	A	-0.79%
SYY	B	-0.77%
ICE	C	-0.77%
TPL	A	-0.75%
TRGP	B	-0.73%
LLY	F	-0.72%
MANH	D	-0.7%
CRWD	B	-0.68%
KKR	A	-0.68%
MCD	D	-0.65%
VICI	C	-0.63%
PH	A	-0.62%
IRM	D	-0.61%
TTD	B	-0.59%
NET	B	-0.58%
DDOG	A	-0.56%
RCL	A	-0.56%
HUBS	A	-0.55%
NI	A	-0.55%
CDNS	B	-0.54%
MMC	B	-0.54%
ZS	C	-0.53%
SBAC	D	-0.53%
LNG	B	-0.52%
TOL	B	-0.52%
NOW	A	-0.51%
SNOW	C	-0.51%
TTWO	A	-0.51%
ORCL	B	-0.51%
FE	C	-0.5%
SRE	A	-0.5%
PANW	C	-0.5%
ETR	B	-0.5%
MSCI	C	-0.49%
DRI	B	-0.49%
RBLX	C	-0.49%
LNT	A	-0.49%
PGR	A	-0.48%
DASH	A	-0.47%
NFLX	A	-0.47%
SPGI	C	-0.47%
ROST	C	-0.47%
BSX	B	-0.47%
CMS	C	-0.46%
ERIE	D	-0.45%
BLK	C	-0.45%
AEE	A	-0.45%
SO	D	-0.44%
SNPS	B	-0.44%
ALNY	D	-0.43%
ORLY	B	-0.43%
EIX	B	-0.43%
ADSK	A	-0.42%
ROP	B	-0.42%
KDP	D	-0.42%
PHM	D	-0.42%
GLPI	C	-0.42%
URI	B	-0.41%
AEP	D	-0.41%
PPG	F	-0.41%
O	D	-0.41%
MDB	C	-0.4%
DXCM	D	-0.4%
NOC	D	-0.4%
DTE	C	-0.4%
MDT	D	-0.39%
BDX	F	-0.39%
MCO	B	-0.39%
CARR	D	-0.38%
AWK	D	-0.38%
LW	C	-0.37%
ADBE	C	-0.37%
VRTX	F	-0.37%
PWR	A	-0.37%
LII	A	-0.37%
NVR	D	-0.36%
BX	A	-0.36%
OKE	A	-0.36%
DHI	D	-0.34%
HCA	F	-0.33%
RIVN	F	-0.32%
MPWR	F	-0.31%
IDXX	F	-0.31%
FCNCA	A	-0.31%
ETN	A	-0.3%
BKNG	A	-0.29%
GWW	B	-0.28%
ATO	A	-0.27%
CPAY	A	-0.26%
RSG	A	-0.24%
HON	B	-0.24%
BRK.A	B	-0.24%
CHD	B	-0.23%
CB	C	-0.23%
CMG	B	-0.22%
WM	A	-0.22%
AME	A	-0.22%
PEP	F	-0.2%
HSY	F	-0.19%
PCAR	B	-0.19%
MDLZ	F	-0.19%
MNST	C	-0.19%
LECO	B	-0.17%