QDEF vs. FHLC ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Fidelity MSCI Health Care Index ETF (FHLC)

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

$71.13

Average Daily Volume

5,765

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

FHLC

Fidelity MSCI Health Care Index ETF

FHLC Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Health Care Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Health Care Index, which represents the performance of the health care sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Health Care Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$73.77

Average Daily Volume

146,199

Number of Holdings ^*

328

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	FHLC
30 Days	1.70%	1.00%
60 Days	5.48%	5.24%
90 Days	6.79%	7.34%
12 Months	28.33%	19.70%

11 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in FHLC	Overlap
ABBV	C	3.04%	5.22%	3.04%
BMY	C	0.38%	1.49%	0.38%
CAH	C	0.16%	0.42%	0.16%
CHE	C	0.41%	0.12%	0.12%
CI	C	0.95%	1.57%	0.95%
GILD	B	0.95%	1.58%	0.95%
JNJ	B	3.26%	6.04%	3.26%
MCK	F	0.62%	1.01%	0.62%
MRK	D	2.71%	4.45%	2.71%
RMD	C	0.59%	0.56%	0.56%
ZTS	B	0.12%	1.33%	0.12%

QDEF Overweight 110 Positions Relative to FHLC

Symbol	Grade	Weight
AAPL	D	6.03%
MSFT	C	5.11%
NVDA	D	4.97%
PG	C	3.01%
HD	B	2.93%
META	A	2.56%
IBM	B	1.78%
QCOM	D	1.72%
PM	C	1.65%
GOOGL	D	1.24%
INTU	D	1.23%
LMT	C	1.13%
ADP	B	1.05%
AMT	C	1.03%
TJX	C	1.01%
GOOG	D	1.01%
TMUS	C	0.99%
SBUX	C	0.99%
KLAC	D	0.94%
AVGO	C	0.88%
MO	C	0.84%
DUK	C	0.83%
T	B	0.76%
KO	B	0.76%
VZ	B	0.72%
ITW	B	0.7%
CME	C	0.7%
MSI	C	0.68%
MMM	B	0.68%
PSA	B	0.65%
JPM	D	0.63%
BK	A	0.61%
AFL	B	0.61%
PAYX	C	0.6%
D	C	0.59%
MAA	B	0.58%
EQR	B	0.58%
FIS	B	0.58%
KMB	D	0.57%
ESS	B	0.57%
PPL	C	0.55%
EA	D	0.55%
VRSK	D	0.55%
OHI	A	0.55%
ED	C	0.55%
AVY	D	0.54%
K	A	0.54%
NSA	B	0.54%
LDOS	C	0.54%
CPT	B	0.54%
WTW	B	0.54%
VIRT	B	0.53%
PNW	B	0.53%
UMBF	B	0.53%
CSCO	B	0.53%
EME	B	0.52%
GIS	B	0.52%
AIZ	B	0.52%
UNM	B	0.51%
FAST	C	0.51%
WDFC	B	0.51%
ORI	A	0.51%
IPG	C	0.5%
DOX	C	0.5%
MET	A	0.5%
BPOP	C	0.5%
BWXT	D	0.5%
RDN	B	0.5%
LSTR	D	0.49%
IRDM	D	0.49%
NEP	D	0.49%
SWKS	F	0.49%
CSL	C	0.49%
OTIS	D	0.49%
WU	D	0.49%
HRB	C	0.49%
CSWI	B	0.48%
CFR	C	0.48%
XOM	D	0.47%
OGE	B	0.47%
STNG	D	0.46%
WSM	C	0.46%
CUBE	B	0.46%
LOW	B	0.45%
SAIC	C	0.45%
OMF	C	0.43%
EXPD	B	0.43%
EBAY	B	0.42%
EXC	B	0.42%
EVRG	A	0.4%
DELL	D	0.4%
DPZ	F	0.39%
BSY	D	0.39%
V	B	0.36%
MSM	D	0.35%
STWD	A	0.34%
VRT	C	0.33%
WEC	B	0.29%
NNN	B	0.25%
PEG	B	0.25%
COST	C	0.24%
MAS	B	0.24%
MA	B	0.22%
AVB	B	0.19%
SCCO	D	0.16%
ROL	C	0.13%
WMT	B	0.12%
BAH	B	0.12%
DDS	D	0.1%
BAC	D	0.02%

QDEF Underweight 317 Positions Relative to FHLC

Symbol	Grade	Weight
LLY	C	-11.51%
UNH	C	-8.25%
TMO	C	-3.57%
ABT	C	-3.1%
DHR	B	-2.77%
AMGN	B	-2.7%
ISRG	C	-2.67%
PFE	C	-2.52%
ELV	C	-1.93%
SYK	C	-1.92%
REGN	C	-1.92%
BSX	B	-1.88%
VRTX	D	-1.88%
MDT	C	-1.76%
HCA	B	-1.17%
CVS	D	-1.1%
BDX	F	-1.04%
IQV	C	-0.66%
EW	F	-0.63%
IDXX	C	-0.63%
A	C	-0.61%
CNC	C	-0.61%
HUM	F	-0.6%
GEHC	C	-0.58%
VEEV	C	-0.51%
ALNY	B	-0.5%
MTD	D	-0.45%
BIIB	F	-0.44%
DXCM	F	-0.42%
STE	C	-0.37%
MRNA	F	-0.35%
ZBH	F	-0.33%
WST	D	-0.33%
MOH	C	-0.32%
BAX	C	-0.31%
ILMN	C	-0.31%
HOLX	B	-0.29%
WAT	C	-0.29%
AVTR	B	-0.27%
DGX	B	-0.26%
PODD	B	-0.25%
ALGN	D	-0.25%
THC	B	-0.24%
BMRN	F	-0.24%
UTHR	C	-0.22%
NTRA	B	-0.22%
UHS	B	-0.21%
VTRS	C	-0.21%
NBIX	F	-0.19%
EXAS	C	-0.19%
TECH	C	-0.18%
TFX	C	-0.17%
INSM	D	-0.17%
INCY	C	-0.16%
PCVX	B	-0.16%
RPRX	C	-0.16%
SRPT	F	-0.16%
CTLT	B	-0.16%
CRL	D	-0.15%
SOLV	C	-0.15%
MEDP	D	-0.14%
EHC	B	-0.14%
DVA	B	-0.13%
ENSG	C	-0.13%
HSIC	C	-0.13%
HALO	B	-0.12%
GMED	D	-0.12%
EXEL	B	-0.11%
ELAN	D	-0.11%
ITCI	D	-0.11%
ACHC	C	-0.11%
LNTH	C	-0.11%
PEN	D	-0.11%
RGEN	F	-0.11%
JAZZ	D	-0.1%
GKOS	D	-0.1%
BIO	C	-0.1%
HQY	C	-0.1%
BRKR	D	-0.1%
CYTK	F	-0.09%
INSP	C	-0.09%
VKTX	C	-0.09%
BPMC	D	-0.08%
MASI	D	-0.08%
OGN	D	-0.08%
XRAY	D	-0.08%
IONS	F	-0.08%
OPCH	C	-0.08%
MMSI	B	-0.08%
RARE	B	-0.07%
RVMD	C	-0.07%
TMDX	C	-0.07%
PBH	B	-0.06%
CRSP	F	-0.06%
PRGO	D	-0.06%
HAE	D	-0.06%
SEM	D	-0.06%
KRYS	D	-0.06%
ADMA	B	-0.06%
PRCT	B	-0.06%
ICUI	B	-0.06%
ITGR	B	-0.06%
RDNT	B	-0.06%
DOCS	B	-0.06%
ALKS	C	-0.06%
EVH	C	-0.05%
MDGL	F	-0.05%
BBIO	D	-0.05%
GH	D	-0.05%
AMED	C	-0.05%
NEOG	C	-0.05%
NVST	D	-0.05%
RNA	C	-0.05%
CORT	B	-0.05%
TGTX	B	-0.05%
CRNX	C	-0.05%
AXNX	B	-0.05%
DNLI	B	-0.05%
VCYT	B	-0.04%
SHC	B	-0.04%
ADUS	B	-0.04%
IRTC	F	-0.04%
RCM	C	-0.04%
AZTA	D	-0.04%
CNMD	D	-0.04%
ENOV	F	-0.04%
ACLX	B	-0.04%
MYGN	B	-0.04%
NUVL	C	-0.04%
NARI	F	-0.04%
IDYA	F	-0.04%
FOLD	D	-0.04%
CLDX	C	-0.04%
XENE	D	-0.04%
TWST	D	-0.04%
LIVN	D	-0.04%
TNDM	C	-0.04%
AXSM	C	-0.04%
CRVL	B	-0.04%
APLS	F	-0.04%
AMN	F	-0.03%
MNKD	B	-0.03%
BEAM	F	-0.03%
ACAD	F	-0.03%
PDCO	F	-0.03%
SUPN	C	-0.03%
NHC	D	-0.03%
DYN	D	-0.03%
NVCR	D	-0.03%
AMPH	C	-0.03%
RXST	C	-0.03%
LMAT	B	-0.03%
PRVA	D	-0.03%
LGND	C	-0.03%
FTRE	F	-0.03%
IOVA	D	-0.03%
NTLA	F	-0.03%
OMCL	C	-0.03%
SWTX	F	-0.03%
GERN	D	-0.03%
PTGX	C	-0.03%
PGNY	F	-0.03%
NEO	C	-0.03%
VCEL	D	-0.03%
PINC	C	-0.03%
SGRY	C	-0.03%
TXG	D	-0.03%
CPRX	B	-0.03%
MRUS	D	-0.03%
UFPT	C	-0.03%
PTCT	C	-0.03%
ARWR	F	-0.03%
AGIO	D	-0.03%
HIMS	D	-0.03%
ASTH	B	-0.03%
RYTM	B	-0.03%
AGL	F	-0.02%
SILK	A	-0.02%
AMRX	B	-0.02%
OMI	D	-0.02%
ALHC	C	-0.02%
CLOV	C	-0.02%
AVNS	B	-0.02%
ARQT	C	-0.02%
INVA	B	-0.02%
LBPH	D	-0.02%
STAA	F	-0.02%
XNCR	C	-0.02%
HRMY	B	-0.02%
ARVN	F	-0.02%
IART	F	-0.02%
COLL	B	-0.02%
CERT	F	-0.02%
RXRX	F	-0.02%
RCKT	D	-0.02%
BKD	D	-0.02%
AKRO	C	-0.02%
USPH	D	-0.02%
VERA	C	-0.02%
HROW	B	-0.02%
SAVA	C	-0.02%
NRIX	C	-0.02%
SDGR	F	-0.02%
TDOC	D	-0.02%
ATRC	C	-0.02%
PHR	C	-0.02%
DVAX	D	-0.02%
SNDX	F	-0.02%
BCRX	C	-0.02%
ARDX	D	-0.02%
MIRM	D	-0.02%
CDNA	C	-0.02%
TLRY	F	-0.02%
NVAX	D	-0.02%
IMVT	D	-0.02%
KYMR	C	-0.02%
KROS	C	-0.02%
SAGE	F	-0.01%
FNA	F	-0.01%
FATE	F	-0.01%
MNMD	F	-0.01%
PLSE	C	-0.01%
VERV	F	-0.01%
REPL	C	-0.01%
IRMD	B	-0.01%
SIGA	D	-0.01%
URGN	F	-0.01%
OLMA	D	-0.01%
ITOS	F	-0.01%
SRRK	F	-0.01%
ALLO	D	-0.01%
STOK	C	-0.01%
ALEC	D	-0.01%
OABI	D	-0.01%
CYRX	F	-0.01%
YMAB	C	-0.01%
SVRA	D	-0.01%
ELVN	D	-0.01%
PACB	D	-0.01%
PAHC	B	-0.01%
EYPT	D	-0.01%
QTRX	D	-0.01%
VREX	F	-0.01%
SPRY	C	-0.01%
FDMT	F	-0.01%
HUMA	D	-0.01%
FLGT	D	-0.01%
CCRN	F	-0.01%
NUVB	D	-0.01%
ARCT	F	-0.01%
WVE	D	-0.01%
LQDA	F	-0.01%
ALT	D	-0.01%
RGNX	D	-0.01%
ERAS	C	-0.01%
ANAB	C	-0.01%
KIDS	D	-0.01%
OPK	C	-0.01%
SLP	F	-0.01%
CTKB	F	-0.01%
ETNB	F	-0.01%
ATEC	F	-0.01%
PCRX	F	-0.01%
CGON	C	-0.01%
SIBN	D	-0.01%
PLRX	F	-0.01%
IMNM	D	-0.01%
SANA	F	-0.01%
ABUS	C	-0.01%
GDRX	D	-0.01%
MLAB	C	-0.01%
OFIX	D	-0.01%
COGT	C	-0.01%
IRWD	F	-0.01%
EWTX	D	-0.01%
RVNC	D	-0.01%
CGEM	F	-0.01%
RLAY	D	-0.01%
CDMO	B	-0.01%
HSTM	C	-0.01%
PRTA	F	-0.01%
PHAT	B	-0.01%
VIR	F	-0.01%
MDXG	F	-0.01%
CYH	B	-0.01%
EOLS	C	-0.01%
DAWN	F	-0.01%
ESTA	F	-0.01%
TVTX	B	-0.01%
CSTL	C	-0.01%
TARS	C	-0.01%
PETQ	A	-0.01%
IRON	D	-0.01%
OCUL	C	-0.01%
AUPH	C	-0.01%
EMBC	C	-0.01%
RCUS	D	-0.01%
KURA	D	-0.01%
BLFS	D	-0.01%
LFST	C	-0.01%
AHCO	B	-0.01%
MD	C	-0.01%
JANX	C	-0.01%
ANIP	D	-0.01%
MRVI	C	-0.01%
VRDN	C	-0.01%
PNTG	B	-0.01%
LYEL	F	-0.0%
DH	F	-0.0%
TMCI	F	-0.0%
TYRA	B	-0.0%
TRDA	F	-0.0%
LXRX	F	-0.0%
TBPH	F	-0.0%
ORIC	D	-0.0%
EDIT	F	-0.0%
NRC	F	-0.0%