QDEF vs. MDYG ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to SPDR S&P 400 Mid Cap Growth ETF (MDYG)

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

$72.83

Average Daily Volume

6,797

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

MDYG

SPDR S&P 400 Mid Cap Growth ETF

MDYG Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of medium capitalization exchange traded U.S. equity securities exhibiting "growth" characteristics. The fund employs a replication strategy in seeking to track the performance of the S&P MidCap 400 Growth Index. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index measures the performance of the mid-capitalization growth sector in the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$92.95

Average Daily Volume

111,178

Number of Holdings ^*

249

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	MDYG
30 Days	0.50%	6.39%
60 Days	2.57%	5.59%
90 Days	4.32%	6.47%
12 Months	30.06%	33.27%

15 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in MDYG	Overlap
BWXT	B	0.64%	0.76%	0.64%
CFR	B	0.6%	0.24%	0.24%
CHE	D	0.39%	0.33%	0.33%
CSL	C	0.53%	1.34%	0.53%
CUBE	C	0.4%	0.38%	0.38%
EME	A	0.64%	1.5%	0.64%
HRB	D	0.45%	0.53%	0.45%
IRDM	D	0.52%	0.11%	0.11%
LSTR	D	0.49%	0.29%	0.29%
MSM	C	0.37%	0.13%	0.13%
NNN	C	0.21%	0.18%	0.18%
NSA	C	0.47%	0.09%	0.09%
OHI	C	0.53%	0.27%	0.27%
SAIC	F	0.41%	0.15%	0.15%
WSM	C	0.41%	1.09%	0.41%

QDEF Overweight 108 Positions Relative to MDYG

Symbol	Grade	Weight
AAPL	C	6.07%
NVDA	B	6.0%
MSFT	D	4.97%
HD	B	3.07%
JNJ	C	2.93%
PG	C	2.83%
META	D	2.76%
ABBV	F	2.6%
MRK	D	2.25%
IBM	C	1.7%
QCOM	F	1.65%
PM	B	1.65%
GOOGL	C	1.36%
INTU	B	1.29%
TMUS	B	1.14%
ADP	A	1.13%
GOOG	C	1.1%
LMT	D	1.05%
GILD	C	1.03%
TJX	A	0.99%
SBUX	A	0.98%
AVGO	D	0.88%
MO	A	0.86%
CI	D	0.83%
AMT	C	0.82%
KLAC	F	0.79%
T	A	0.77%
DUK	C	0.77%
ITW	B	0.74%
MSI	B	0.74%
JPM	A	0.73%
CME	B	0.71%
MCK	A	0.71%
BK	A	0.67%
MMM	D	0.66%
VZ	C	0.65%
UNM	A	0.65%
KO	D	0.65%
PAYX	B	0.63%
UMBF	B	0.61%
CSCO	B	0.61%
FIS	C	0.6%
EA	A	0.6%
AFL	B	0.6%
GEN	B	0.59%
PSA	C	0.59%
AIZ	A	0.58%
WTW	B	0.58%
FAST	B	0.58%
VIRT	A	0.57%
CSWI	B	0.57%
COR	B	0.57%
LDOS	C	0.57%
VRSK	A	0.57%
D	C	0.56%
WDFC	B	0.55%
PPL	A	0.55%
ORI	A	0.54%
ESS	B	0.54%
RMD	C	0.54%
K	A	0.53%
MET	A	0.53%
EQR	C	0.53%
MAA	B	0.53%
PNW	A	0.52%
CPT	B	0.51%
OTIS	C	0.51%
KMB	C	0.51%
XOM	B	0.5%
OMF	A	0.5%
ED	C	0.49%
AVY	F	0.48%
DOX	D	0.48%
BPOP	C	0.48%
RDN	D	0.48%
LOW	C	0.47%
OGE	A	0.47%
IPG	D	0.46%
DELL	B	0.46%
BMY	B	0.45%
GIS	D	0.45%
VRT	B	0.45%
WU	F	0.43%
EXPD	C	0.42%
DPZ	C	0.41%
EVRG	A	0.4%
EBAY	D	0.4%
EXC	C	0.39%
SWKS	F	0.39%
V	A	0.38%
BSY	F	0.37%
STNG	F	0.36%
STWD	C	0.32%
NEP	F	0.32%
WEC	A	0.28%
PEG	A	0.26%
COST	A	0.24%
MA	B	0.23%
MAS	D	0.23%
AVB	B	0.18%
CAH	B	0.17%
SCCO	F	0.16%
BAH	F	0.12%
DDS	B	0.12%
WMT	A	0.12%
ROL	B	0.12%
ZTS	D	0.11%
BAC	A	0.02%

QDEF Underweight 234 Positions Relative to MDYG

Symbol	Grade	Weight
LII	A	-1.28%
WSO	A	-1.18%
MANH	D	-1.11%
TPL	A	-1.11%
OC	A	-1.1%
RBA	A	-1.1%
RS	B	-1.1%
DT	D	-1.04%
TOL	B	-1.02%
FIX	A	-1.01%
PSTG	D	-0.99%
CASY	A	-0.97%
GGG	B	-0.97%
SAIA	B	-0.93%
TXRH	B	-0.86%
CLH	C	-0.82%
ITT	A	-0.8%
NBIX	C	-0.8%
NVT	B	-0.79%
DUOL	A	-0.78%
LECO	C	-0.76%
OVV	B	-0.76%
IBKR	A	-0.74%
TTEK	F	-0.71%
FND	D	-0.71%
BLD	D	-0.7%
KNSL	B	-0.68%
WWD	C	-0.67%
CHDN	B	-0.67%
AIT	B	-0.67%
BURL	B	-0.66%
EXP	B	-0.66%
EXEL	B	-0.65%
PRI	B	-0.65%
MUSA	B	-0.64%
WING	D	-0.63%
HLI	A	-0.63%
TPX	B	-0.62%
PR	B	-0.62%
RPM	A	-0.61%
MORN	B	-0.6%
PEN	B	-0.59%
RBC	A	-0.59%
FN	C	-0.59%
WMS	F	-0.59%
PCTY	C	-0.58%
AXTA	B	-0.58%
AAON	B	-0.58%
CW	C	-0.58%
NYT	D	-0.57%
CR	A	-0.55%
MEDP	D	-0.55%
ELS	C	-0.55%
SRPT	F	-0.54%
XPO	B	-0.53%
ONTO	F	-0.53%
PLNT	A	-0.53%
RRC	B	-0.53%
SKX	D	-0.53%
ENSG	C	-0.53%
LNW	F	-0.53%
UFPI	C	-0.52%
EQH	C	-0.52%
CHRD	D	-0.52%
HLNE	B	-0.51%
SSD	F	-0.5%
TREX	C	-0.5%
UTHR	C	-0.5%
EWBC	A	-0.5%
OLED	F	-0.48%
EVR	B	-0.48%
RNR	C	-0.48%
ANF	F	-0.48%
RGEN	D	-0.48%
WEX	D	-0.48%
ESAB	C	-0.47%
RYAN	A	-0.47%
AMH	C	-0.46%
H	B	-0.46%
GTLS	A	-0.46%
COKE	C	-0.46%
FCN	F	-0.45%
ELF	C	-0.45%
LSCC	D	-0.45%
BMRN	F	-0.45%
MSA	F	-0.44%
ATR	B	-0.44%
HALO	F	-0.44%
MTDR	B	-0.44%
DBX	B	-0.43%
ACM	B	-0.43%
LAMR	C	-0.42%
WFRD	D	-0.4%
ALTR	B	-0.4%
SCI	B	-0.4%
VNT	C	-0.39%
AVTR	F	-0.39%
DTM	A	-0.39%
DKS	D	-0.39%
SFM	A	-0.38%
CNX	A	-0.38%
CROX	D	-0.38%
OLLI	D	-0.37%
RMBS	B	-0.37%
GLPI	C	-0.37%
WTS	B	-0.37%
QLYS	B	-0.36%
VVV	D	-0.36%
LNTH	D	-0.36%
APPF	B	-0.35%
DCI	B	-0.34%
CCK	D	-0.33%
WAL	B	-0.33%
CG	B	-0.33%
AYI	B	-0.33%
EGP	D	-0.33%
BRBR	A	-0.32%
BYD	B	-0.32%
WH	B	-0.32%
RLI	A	-0.31%
LOPE	C	-0.31%
RGLD	C	-0.31%
FIVE	F	-0.31%
MTSI	B	-0.3%
CNM	D	-0.3%
WTRG	B	-0.3%
CIVI	D	-0.3%
GNTX	C	-0.29%
CVLT	B	-0.29%
GXO	B	-0.29%
LPX	B	-0.29%
EHC	B	-0.29%
ALV	C	-0.28%
LFUS	D	-0.28%
MASI	B	-0.28%
MTN	C	-0.28%
TTC	C	-0.27%
BCO	F	-0.27%
EXLS	B	-0.27%
NEU	D	-0.27%
WLK	D	-0.27%
CELH	F	-0.27%
HQY	A	-0.27%
CBT	D	-0.26%
SEIC	B	-0.26%
CACI	D	-0.26%
CIEN	C	-0.26%
PNFP	B	-0.25%
CHX	C	-0.25%
KBR	F	-0.24%
ACHC	F	-0.24%
FBIN	D	-0.24%
MKSI	C	-0.24%
BRX	A	-0.24%
KNF	B	-0.24%
NOVT	D	-0.23%
MMS	F	-0.23%
REXR	F	-0.23%
BRKR	D	-0.23%
WMG	D	-0.23%
MIDD	C	-0.23%
TKO	A	-0.22%
VAL	F	-0.22%
PSN	D	-0.22%
SLAB	F	-0.22%
CBSH	B	-0.22%
INGR	C	-0.22%
FLS	B	-0.22%
VOYA	B	-0.21%
JAZZ	B	-0.21%
DOCS	C	-0.21%
BC	C	-0.21%
STAG	D	-0.21%
SIGI	C	-0.21%
FR	D	-0.21%
CGNX	D	-0.2%
PK	C	-0.2%
CRUS	D	-0.2%
ROIV	C	-0.2%
KEX	B	-0.2%
CYTK	F	-0.19%
AM	A	-0.19%
COTY	F	-0.18%
HAE	C	-0.18%
KBH	D	-0.18%
MAT	D	-0.18%
TDC	D	-0.18%
OZK	B	-0.17%
TNL	A	-0.17%
ARWR	D	-0.17%
HWC	B	-0.17%
MTG	C	-0.16%
IDA	A	-0.16%
DLB	B	-0.16%
EXPO	D	-0.16%
SHC	F	-0.15%
EEFT	B	-0.15%
HXL	F	-0.15%
FFIN	B	-0.14%
RH	C	-0.14%
TEX	F	-0.13%
CHWY	B	-0.13%
GATX	A	-0.13%
OLN	F	-0.13%
MUR	D	-0.13%
EPR	C	-0.13%
BLKB	B	-0.13%
OPCH	D	-0.13%
SLM	A	-0.13%
YETI	D	-0.13%
CAR	C	-0.12%
TKR	D	-0.12%
IBOC	B	-0.11%
ENS	F	-0.11%
HGV	C	-0.11%
LANC	C	-0.11%
WEN	D	-0.11%
POWI	F	-0.11%
RYN	D	-0.1%
CHH	A	-0.1%
COLM	C	-0.09%
AZTA	D	-0.09%
NSP	F	-0.09%
SMG	C	-0.08%
SYNA	C	-0.08%
AMED	F	-0.08%
SAM	C	-0.08%
CDP	C	-0.08%
LIVN	F	-0.07%
ALGM	D	-0.07%
VC	F	-0.07%
CPRI	F	-0.07%
IPGP	D	-0.06%
ZI	D	-0.06%