QDEF vs. LCTU ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to BlackRock U.S. Carbon Transition Readiness ETF (LCTU)

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

$71.11

Average Daily Volume

5,791

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

LCTU

BlackRock U.S. Carbon Transition Readiness ETF

LCTU Description

The investment seeks long-term capital appreciation by investing in large- and mid-capitalization U.S. equity securities that may be better positioned to benefit from the transition to a low-carbon economy. The fund seeks to outperform the price and yield performance of the Russell 1000 Â®Index by optimizing for LCETR scores criteria based on proprietary BFA research. It seeks to invest at least 80% of its net assets in equity securities of issuers listed in the United States of America. The index is a subset of the Russell 3000 Index, which measures the performance of the broad U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$62.45

Average Daily Volume

55,055

Number of Holdings ^*

284

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	LCTU
30 Days	2.72%	2.39%
60 Days	6.48%	4.44%
90 Days	7.99%	5.30%
12 Months	30.41%	29.86%

50 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in LCTU	Overlap
AAPL	C	6.03%	7.1%	6.03%
ABBV	C	3.04%	0.81%	0.81%
ADP	B	1.05%	0.2%	0.2%
AFL	C	0.61%	0.16%	0.16%
AMT	C	1.03%	0.43%	0.43%
AVGO	C	0.88%	1.26%	0.88%
AVY	C	0.54%	0.05%	0.05%
BMY	C	0.38%	0.02%	0.02%
CI	C	0.95%	0.44%	0.44%
CME	C	0.7%	0.07%	0.07%
COST	B	0.24%	1.43%	0.24%
CSCO	C	0.53%	0.73%	0.53%
DELL	D	0.4%	0.01%	0.01%
DOX	C	0.5%	0.01%	0.01%
EBAY	B	0.42%	0.34%	0.34%
ED	C	0.55%	0.12%	0.12%
EXPD	C	0.43%	0.4%	0.4%
GILD	B	0.95%	0.05%	0.05%
GOOG	D	1.01%	1.54%	1.01%
GOOGL	D	1.24%	1.87%	1.24%
HD	B	2.93%	0.64%	0.64%
IBM	B	1.78%	0.29%	0.29%
INTU	C	1.23%	0.56%	0.56%
IPG	C	0.5%	0.22%	0.22%
ITW	C	0.7%	0.16%	0.16%
JNJ	C	3.26%	1.51%	1.51%
JPM	D	0.63%	1.31%	0.63%
K	B	0.54%	0.03%	0.03%
KO	C	0.76%	1.2%	0.76%
MA	B	0.22%	1.79%	0.22%
MET	B	0.5%	0.09%	0.09%
META	B	2.56%	2.14%	2.14%
MMM	B	0.68%	0.03%	0.03%
MRK	D	2.71%	0.61%	0.61%
MSFT	C	5.11%	5.35%	5.11%
NVDA	D	4.97%	5.39%	4.97%
PEG	B	0.25%	0.61%	0.25%
PG	C	3.01%	0.52%	0.52%
QCOM	D	1.72%	0.31%	0.31%
RMD	C	0.59%	0.03%	0.03%
SAIC	C	0.45%	0.02%	0.02%
SBUX	C	0.99%	0.27%	0.27%
TJX	B	1.01%	0.25%	0.25%
TMUS	C	0.99%	0.32%	0.32%
VRSK	D	0.55%	0.08%	0.08%
VRT	C	0.33%	0.02%	0.02%
VZ	B	0.72%	0.43%	0.43%
WMT	C	0.12%	0.26%	0.12%
WSM	D	0.46%	0.26%	0.26%
XOM	C	0.47%	0.71%	0.47%

QDEF Overweight 71 Positions Relative to LCTU

Symbol	Grade	Weight
PM	C	1.65%
LMT	C	1.13%
KLAC	D	0.94%
MO	C	0.84%
DUK	C	0.83%
T	C	0.76%
MSI	B	0.68%
PSA	B	0.65%
MCK	F	0.62%
BK	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%
OHI	B	0.55%
NSA	B	0.54%
LDOS	B	0.54%
CPT	B	0.54%
WTW	C	0.54%
VIRT	C	0.53%
PNW	C	0.53%
UMBF	B	0.53%
EME	B	0.52%
GIS	B	0.52%
AIZ	B	0.52%
UNM	B	0.51%
FAST	C	0.51%
WDFC	C	0.51%
ORI	B	0.51%
BPOP	C	0.5%
BWXT	D	0.5%
RDN	C	0.5%
LSTR	D	0.49%
IRDM	D	0.49%
NEP	D	0.49%
SWKS	D	0.49%
CSL	B	0.49%
OTIS	C	0.49%
WU	F	0.49%
HRB	C	0.49%
CSWI	B	0.48%
CFR	C	0.48%
OGE	C	0.47%
STNG	D	0.46%
CUBE	B	0.46%
LOW	B	0.45%
OMF	D	0.43%
EXC	C	0.42%
CHE	C	0.41%
EVRG	B	0.4%
DPZ	F	0.39%
BSY	D	0.39%
V	C	0.36%
MSM	D	0.35%
STWD	B	0.34%
WEC	C	0.29%
NNN	C	0.25%
MAS	B	0.24%
AVB	B	0.19%
CAH	C	0.16%
SCCO	D	0.16%
ROL	C	0.13%
ZTS	C	0.12%
BAH	C	0.12%
DDS	F	0.1%
BAC	D	0.02%

QDEF Underweight 234 Positions Relative to LCTU

Symbol	Grade	Weight
AMZN	C	-3.17%
LLY	C	-1.85%
ABT	C	-1.37%
SPGI	B	-1.33%
TSLA	C	-1.3%
ACN	C	-1.15%
ECL	B	-1.11%
SRE	C	-0.98%
GS	C	-0.98%
KKR	B	-0.93%
COF	B	-0.78%
COP	D	-0.77%
BRK.A	C	-0.77%
TT	B	-0.75%
NFLX	B	-0.74%
CMI	C	-0.73%
ADBE	F	-0.69%
PCAR	D	-0.68%
YUM	D	-0.66%
PPG	D	-0.66%
BKNG	C	-0.64%
AMD	D	-0.61%
J	C	-0.61%
ETN	C	-0.58%
ADSK	C	-0.57%
CRM	D	-0.57%
PLD	C	-0.57%
AMGN	B	-0.55%
KEY	B	-0.53%
ADI	C	-0.52%
CAT	B	-0.5%
MKC	C	-0.48%
RTX	C	-0.48%
LRCX	F	-0.48%
BKR	C	-0.47%
MMC	C	-0.47%
XYL	C	-0.47%
MDLZ	B	-0.47%
CHD	D	-0.46%
UBER	C	-0.45%
ELV	C	-0.44%
BBY	C	-0.42%
GE	B	-0.42%
TXN	C	-0.42%
ACGL	C	-0.4%
CL	D	-0.4%
HOLX	B	-0.4%
CNC	D	-0.4%
NDAQ	A	-0.39%
PANW	D	-0.39%
PEP	C	-0.38%
VEEV	C	-0.38%
MPC	F	-0.37%
NOW	B	-0.37%
HUBB	B	-0.37%
WY	C	-0.36%
ES	C	-0.33%
TGT	C	-0.32%
C	C	-0.31%
AON	B	-0.31%
FITB	B	-0.3%
ORCL	C	-0.29%
A	C	-0.29%
ILMN	C	-0.29%
NKE	D	-0.28%
O	C	-0.27%
MCD	B	-0.27%
MDT	C	-0.27%
MTB	B	-0.27%
BIIB	F	-0.26%
NRG	C	-0.25%
JBHT	D	-0.25%
ALL	B	-0.24%
FTNT	C	-0.24%
CVS	D	-0.24%
RGA	C	-0.23%
SQ	D	-0.23%
OLED	C	-0.23%
AMAT	D	-0.22%
DIS	D	-0.22%
CVX	D	-0.22%
ETSY	F	-0.21%
BSX	B	-0.21%
VLTO	C	-0.21%
INTC	F	-0.2%
WHR	D	-0.2%
KDP	B	-0.2%
IR	C	-0.2%
VRTX	D	-0.19%
RJF	C	-0.18%
SPG	B	-0.18%
ZM	C	-0.17%
WDAY	D	-0.17%
FMC	C	-0.16%
NEE	C	-0.16%
GEV	B	-0.16%
CHRW	B	-0.16%
DECK	C	-0.16%
OKTA	F	-0.16%
LPLA	D	-0.16%
ISRG	B	-0.16%
FNB	C	-0.15%
SYY	D	-0.15%
APD	B	-0.14%
MAN	C	-0.14%
PGR	B	-0.14%
ESI	D	-0.14%
MGM	F	-0.14%
UNH	C	-0.14%
FRT	C	-0.14%
NU	B	-0.14%
HUM	F	-0.14%
REG	C	-0.13%
BXP	B	-0.13%
OKE	B	-0.13%
SPOT	B	-0.12%
DVA	B	-0.12%
GLOB	D	-0.12%
CEG	C	-0.12%
VTR	C	-0.12%
XRAY	D	-0.12%
TTWO	C	-0.11%
EL	F	-0.11%
HXL	F	-0.11%
CINF	B	-0.11%
CFG	C	-0.11%
KRC	B	-0.11%
SHW	B	-0.11%
PFE	C	-0.11%
MSCI	C	-0.1%
CTSH	C	-0.1%
LVS	D	-0.1%
MTD	D	-0.1%
PYPL	B	-0.1%
AR	F	-0.09%
RGLD	C	-0.08%
RL	C	-0.08%
HPQ	D	-0.08%
KMI	B	-0.08%
REXR	C	-0.08%
HUBS	D	-0.08%
CCK	A	-0.08%
PLTR	B	-0.07%
CRWD	D	-0.07%
EXPE	C	-0.07%
VLO	F	-0.07%
FANG	D	-0.07%
VOYA	B	-0.07%
TEAM	D	-0.06%
EW	F	-0.06%
HPE	D	-0.06%
CMCSA	D	-0.06%
WAT	C	-0.06%
ALNY	C	-0.06%
PWR	B	-0.06%
SCHW	D	-0.06%
KEX	C	-0.06%
RIVN	F	-0.05%
MTZ	B	-0.05%
WDC	D	-0.05%
MU	F	-0.05%
BG	D	-0.05%
TRGP	B	-0.05%
HAS	B	-0.05%
WST	D	-0.05%
FTI	D	-0.05%
FCX	D	-0.05%
PSN	B	-0.05%
FSLR	C	-0.04%
MRNA	F	-0.04%
GWRE	A	-0.04%
ZS	F	-0.04%
HWM	B	-0.04%
ABNB	D	-0.04%
AFG	B	-0.04%
CZR	C	-0.04%
GM	C	-0.04%
ARE	C	-0.03%
AAL	D	-0.03%
CDNS	D	-0.03%
DOCU	C	-0.03%
AXS	B	-0.03%
TXT	D	-0.03%
WELL	C	-0.03%
MRVL	C	-0.03%
OMC	B	-0.03%
STLD	F	-0.03%
CPNG	B	-0.03%
SMCI	F	-0.03%
MOH	D	-0.03%
S	C	-0.03%
CTLT	B	-0.03%
CMG	C	-0.02%
LCID	C	-0.02%
LOPE	D	-0.02%
CIVI	F	-0.02%
USB	B	-0.02%
PVH	F	-0.02%
KIM	C	-0.02%
GAP	F	-0.02%
DXCM	F	-0.02%
WFC	D	-0.02%
ENPH	D	-0.02%
VNO	B	-0.02%
AJG	D	-0.02%
PSX	F	-0.02%
TDG	B	-0.01%
MS	D	-0.01%
AGO	C	-0.01%
ITT	B	-0.01%
BWA	D	-0.01%
DJT	F	-0.01%
RPM	B	-0.01%
NOV	F	-0.01%
HST	C	-0.01%
GXO	D	-0.01%
GFS	F	-0.01%
AGNC	B	-0.0%
INGR	B	-0.0%
AM	C	-0.0%
TWLO	D	-0.0%
PNFP	B	-0.0%
IEX	D	-0.0%
DXC	C	-0.0%
PARA	F	-0.0%
FYBR	C	-0.0%
SNOW	F	-0.0%
YETI	D	-0.0%
TTEK	C	-0.0%
PII	D	-0.0%
MKTX	C	-0.0%
BX	B	-0.0%
TFC	C	-0.0%
G	C	-0.0%