QDEF vs. VCLT ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Vanguard Long-Term Corporate Bond ETF (VCLT)

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

$70.89

Average Daily Volume

6,104

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$80.49

Average Daily Volume

2,606,293

Number of Holdings ^*

339

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	VCLT
30 Days	1.98%	1.70%
60 Days	6.45%	2.59%
90 Days	7.70%	6.04%
12 Months	35.01%	20.89%

76 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in VCLT	Overlap
AAPL	C	6.09%	0.04%	0.04%
ABBV	B	3.06%	0.03%	0.03%
AFL	A	0.63%	0.02%	0.02%
AMT	C	0.99%	0.03%	0.03%
AVB	C	0.18%	0.01%	0.01%
AVGO	C	0.88%	0.04%	0.04%
AVY	D	0.53%	0.02%	0.02%
BAC	D	0.02%	0.02%	0.02%
BMY	B	0.41%	0.03%	0.03%
CAH	B	0.16%	0.01%	0.01%
CI	D	0.9%	0.02%	0.02%
CME	A	0.72%	0.03%	0.03%
COST	C	0.23%	0.06%	0.06%
CPT	C	0.52%	0.03%	0.03%
CSCO	A	0.56%	0.07%	0.07%
D	A	0.58%	0.01%	0.01%
DELL	C	0.4%	0.11%	0.11%
DUK	B	0.82%	0.01%	0.01%
EA	D	0.53%	0.01%	0.01%
EBAY	A	0.43%	0.03%	0.03%
ED	A	0.55%	0.01%	0.01%
EQR	C	0.54%	0.01%	0.01%
ESS	D	0.53%	0.01%	0.01%
EVRG	C	0.4%	0.01%	0.01%
EXC	A	0.42%	0.01%	0.01%
FIS	B	0.57%	0.02%	0.02%
GILD	A	0.95%	0.02%	0.02%
GIS	C	0.53%	0.01%	0.01%
GOOGL	B	1.31%	0.04%	0.04%
HD	A	3.13%	0.01%	0.01%
IBM	A	1.8%	0.02%	0.02%
IPG	D	0.5%	0.01%	0.01%
ITW	B	0.72%	0.03%	0.03%
JNJ	D	3.17%	0.02%	0.02%
JPM	D	0.63%	0.01%	0.01%
K	A	0.53%	0.02%	0.02%
KLAC	B	0.93%	0.02%	0.02%
KMB	D	0.56%	0.01%	0.01%
KO	C	0.76%	0.01%	0.01%
LMT	A	1.19%	0.01%	0.01%
LOW	A	0.48%	0.01%	0.01%
MA	A	0.22%	0.02%	0.02%
MAA	D	0.54%	0.01%	0.01%
MAS	A	0.25%	0.01%	0.01%
MET	B	0.53%	0.02%	0.02%
MMM	C	0.69%	0.01%	0.01%
MO	D	0.8%	0.01%	0.01%
MRK	F	2.66%	0.01%	0.01%
MSFT	D	4.96%	0.01%	0.01%
MSI	A	0.68%	0.02%	0.02%
NNN	A	0.25%	0.01%	0.01%
NVDA	B	4.84%	0.03%	0.03%
OGE	A	0.47%	0.01%	0.01%
OHI	C	0.54%	0.03%	0.03%
ORI	B	0.52%	0.03%	0.03%
OTIS	A	0.54%	0.02%	0.02%
PEG	A	0.27%	0.01%	0.01%
PG	D	2.97%	0.01%	0.01%
PM	D	1.58%	0.02%	0.02%
PNW	B	0.53%	0.01%	0.01%
PPL	B	0.55%	0.01%	0.01%
QCOM	C	1.69%	0.02%	0.02%
SBUX	C	0.97%	0.01%	0.01%
SCCO	B	0.19%	0.05%	0.05%
T	A	0.77%	0.01%	0.01%
TJX	D	0.97%	0.04%	0.04%
TMUS	A	1.0%	0.03%	0.03%
UNM	A	0.54%	0.01%	0.01%
V	C	0.34%	0.02%	0.02%
VRSK	C	0.54%	0.02%	0.02%
VZ	B	0.72%	0.01%	0.01%
WEC	A	0.29%	0.01%	0.01%
WMT	A	0.12%	0.02%	0.02%
WU	D	0.49%	0.03%	0.03%
XOM	A	0.5%	0.02%	0.02%
ZTS	C	0.12%	0.01%	0.01%

QDEF Overweight 47 Positions Relative to VCLT

Symbol	Grade	Weight
META	A	2.79%
INTU	F	1.13%
ADP	A	1.06%
GOOG	B	1.06%
PSA	C	0.65%
PAYX	A	0.62%
BK	C	0.62%
MCK	F	0.59%
BWXT	A	0.57%
LDOS	A	0.57%
IRDM	B	0.56%
WTW	C	0.56%
RMD	C	0.56%
EME	C	0.55%
AIZ	B	0.54%
GEN	B	0.54%
CSL	A	0.53%
COR	F	0.53%
NSA	C	0.53%
WDFC	D	0.51%
UMBF	C	0.51%
FAST	C	0.51%
CSWI	C	0.51%
NEP	D	0.51%
DOX	B	0.5%
VIRT	B	0.5%
RDN	D	0.49%
HRB	C	0.49%
LSTR	F	0.49%
WSM	B	0.48%
BPOP	D	0.48%
STNG	C	0.47%
CFR	D	0.47%
EXPD	D	0.46%
SAIC	A	0.46%
CUBE	C	0.45%
SWKS	F	0.45%
CHE	C	0.42%
OMF	F	0.42%
DPZ	D	0.41%
BSY	D	0.39%
VRT	B	0.37%
MSM	D	0.37%
STWD	C	0.33%
ROL	C	0.13%
BAH	A	0.13%
DDS	D	0.11%

QDEF Underweight 263 Positions Relative to VCLT

Symbol	Grade	Weight
WIT	C	-0.21%
EQH	C	-0.09%
MDT	C	-0.08%
FITB	C	-0.07%
WY	C	-0.07%
FOXA	A	-0.07%
DD	C	-0.07%
AXP	B	-0.06%
HPQ	B	-0.06%
HCA	C	-0.06%
CARR	B	-0.06%
CAG	D	-0.05%
BIIB	F	-0.05%
TAP	D	-0.05%
CRM	B	-0.05%
MS	B	-0.05%
AMZN	C	-0.05%
L	D	-0.04%
WBA	F	-0.04%
LIN	B	-0.04%
NXPI	F	-0.04%
DT	B	-0.04%
BHF	F	-0.04%
GPN	F	-0.04%
JNPR	B	-0.04%
NEM	C	-0.04%
HPE	B	-0.04%
BHP	B	-0.04%
ORCL	C	-0.04%
FTV	C	-0.03%
FANG	C	-0.03%
CFG	D	-0.03%
AAL	D	-0.03%
STE	D	-0.03%
WRK	C	-0.03%
WM	B	-0.03%
NOV	F	-0.03%
MLM	F	-0.03%
LH	D	-0.03%
LEA	F	-0.03%
DG	F	-0.03%
PKG	B	-0.03%
PYPL	C	-0.03%
RPM	B	-0.03%
SPGI	B	-0.03%
CF	A	-0.03%
RPRX	D	-0.03%
APD	C	-0.03%
AMAT	B	-0.03%
DVN	F	-0.03%
MDLZ	D	-0.03%
MAR	B	-0.03%
CB	B	-0.03%
VLO	D	-0.03%
RJF	B	-0.03%
MUFG	F	-0.03%
VTRS	D	-0.03%
PSX	D	-0.03%
MPLX	A	-0.03%
ALLY	F	-0.03%
INTC	D	-0.03%
CHTR	D	-0.03%
ABT	C	-0.03%
WPC	C	-0.02%
PWR	B	-0.02%
PECO	C	-0.02%
SCHW	D	-0.02%
REGN	D	-0.02%
CHD	D	-0.02%
ZBH	F	-0.02%
STLD	B	-0.02%
FE	C	-0.02%
FMC	C	-0.02%
BAX	D	-0.02%
CMI	A	-0.02%
CL	D	-0.02%
CINF	B	-0.02%
OGS	C	-0.02%
LHX	A	-0.02%
O	A	-0.02%
IVZ	B	-0.02%
HRL	F	-0.02%
HOG	D	-0.02%
SBRA	C	-0.02%
TEL	D	-0.02%
AFG	B	-0.02%
CPB	D	-0.02%
VMI	B	-0.02%
XYL	C	-0.02%
WTRG	D	-0.02%
WHR	C	-0.02%
AJG	D	-0.02%
KSS	D	-0.02%
MKC	C	-0.02%
NWE	B	-0.02%
PAA	C	-0.02%
LRCX	D	-0.02%
GWW	B	-0.02%
EMN	C	-0.02%
ADI	C	-0.02%
ROK	C	-0.02%
PH	B	-0.02%
SYK	C	-0.02%
MOS	F	-0.02%
NDAQ	B	-0.02%
LNC	D	-0.02%
EG	B	-0.02%
ES	D	-0.02%
STZ	D	-0.02%
MCO	D	-0.02%
CCI	C	-0.02%
CP	D	-0.02%
NI	A	-0.02%
TXN	C	-0.02%
SWK	C	-0.02%
DHR	D	-0.02%
DE	B	-0.02%
TGT	D	-0.02%
HES	C	-0.02%
CVX	B	-0.02%
DOW	B	-0.02%
UPS	D	-0.02%
TSN	D	-0.02%
ECL	B	-0.02%
MPC	C	-0.02%
HAL	D	-0.02%
EPD	A	-0.02%
PEP	F	-0.02%
ICE	A	-0.02%
NOC	B	-0.02%
COP	D	-0.02%
RTX	A	-0.02%
PFE	D	-0.02%
AZN	D	-0.02%
HSBC	A	-0.02%
VOD	D	-0.02%
GSK	F	-0.02%
GE	C	-0.02%
HIW	C	-0.01%
FRT	D	-0.01%
AGO	B	-0.01%
AMH	D	-0.01%
EXR	C	-0.01%
BXP	C	-0.01%
BWA	C	-0.01%
AVA	D	-0.01%
APTV	D	-0.01%
DRI	C	-0.01%
ALB	D	-0.01%
INGR	B	-0.01%
IDA	D	-0.01%
EMR	B	-0.01%
LXP	D	-0.01%
OPI	F	-0.01%
JD	B	-0.01%
SIGI	D	-0.01%
DOC	C	-0.01%
ADC	B	-0.01%
BEN	F	-0.01%
CACC	F	-0.01%
FNF	B	-0.01%
AES	C	-0.01%
PHM	A	-0.01%
PFG	C	-0.01%
VTR	C	-0.01%
RF	C	-0.01%
REG	C	-0.01%
EE	A	-0.01%
BKH	C	-0.01%
SWX	C	-0.01%
VOYA	A	-0.01%
SNA	A	-0.01%
DOV	B	-0.01%
KRC	C	-0.01%
EQIX	C	-0.01%
KIM	C	-0.01%
UDR	C	-0.01%
TT	A	-0.01%
UAL	B	-0.01%
MKL	C	-0.01%
HSY	F	-0.01%
KOF	D	-0.01%
EOG	B	-0.01%
WELL	C	-0.01%
WRB	C	-0.01%
PLD	D	-0.01%
SJM	D	-0.01%
RSG	C	-0.01%
DTE	A	-0.01%
HIG	B	-0.01%
JEF	A	-0.01%
IFF	C	-0.01%
HAS	B	-0.01%
ETN	C	-0.01%
AWK	C	-0.01%
ATO	A	-0.01%
AEP	C	-0.01%
AEE	A	-0.01%
AON	B	-0.01%
SRE	B	-0.01%
PGR	C	-0.01%
VMC	D	-0.01%
NEE	A	-0.01%
NUE	C	-0.01%
KDP	C	-0.01%
HUM	F	-0.01%
CNP	B	-0.01%
CMS	A	-0.01%
LNT	A	-0.01%
OC	C	-0.01%
ACGL	B	-0.01%
XEL	B	-0.01%
SPG	A	-0.01%
WLK	C	-0.01%
GLW	C	-0.01%
JCI	C	-0.01%
EL	D	-0.01%
ALL	C	-0.01%
TRV	C	-0.01%
TMO	D	-0.01%
MMC	D	-0.01%
LLY	D	-0.01%
HON	C	-0.01%
JBLU	B	-0.01%
KR	C	-0.01%
FDX	F	-0.01%
CSX	D	-0.01%
EIX	B	-0.01%
ETR	A	-0.01%
ADM	F	-0.01%
ARE	D	-0.01%
PRU	C	-0.01%
IP	C	-0.01%
KMI	A	-0.01%
GD	C	-0.01%
WMB	A	-0.01%
SHW	C	-0.01%
LYB	F	-0.01%
OKE	A	-0.01%
MRO	C	-0.01%
NSC	D	-0.01%
GM	D	-0.01%
BSX	A	-0.01%
CAT	A	-0.01%
AIG	F	-0.01%
ET	A	-0.01%
SO	A	-0.01%
SYY	D	-0.01%
NKE	D	-0.01%
MCD	A	-0.01%
UNP	D	-0.01%
UNH	B	-0.01%
DIS	D	-0.01%
BABA	B	-0.01%
BDX	C	-0.01%
C	C	-0.01%
PCG	C	-0.01%
AMGN	D	-0.01%
CMCSA	C	-0.01%
WFC	F	-0.01%
BA	F	-0.01%
GS	D	-0.01%
CVS	C	-0.01%