QDEF vs. VLLU ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Harbor AlphaEdge Large Cap Value ETF (VLLU)

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

VLLU

Harbor AlphaEdge Large Cap Value ETF

VLLU Description

The fund employs an indexing investment approach designed to track the performance of the index, which is constructed by Harbor Capital Advisors, Inc. using a proprietary, rules-based methodology. The index consists of equity securities of U.S.-listed companies that exhibit attractive valuation along with positive fundamental and price characteristics according to the index Provider"s methodology. The fund invests at least 80% of its total assets in securities that are included in the index.

Grade (RS Rating)

Last Trade

$21.97

Average Daily Volume

152

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	VLLU
30 Days	1.58%	6.02%
60 Days	2.63%	6.70%
90 Days	4.66%
12 Months	30.49%

19 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in VLLU	Overlap
BAC	A	0.02%	2.45%	0.02%
BK	A	0.67%	0.54%	0.54%
CAH	B	0.17%	0.56%	0.17%
CI	F	0.83%	2.03%	0.83%
COR	B	0.57%	2.81%	0.57%
EME	C	0.64%	3.29%	0.64%
GILD	C	1.03%	2.34%	1.03%
GIS	D	0.45%	0.45%	0.45%
HRB	D	0.45%	1.73%	0.45%
JPM	A	0.73%	3.08%	0.73%
LDOS	C	0.57%	0.43%	0.43%
LOW	D	0.47%	0.94%	0.47%
MMM	D	0.66%	0.49%	0.49%
MO	A	0.86%	3.13%	0.86%
STNG	F	0.36%	0.45%	0.36%
T	A	0.77%	2.85%	0.77%
VZ	C	0.65%	0.95%	0.65%
WSM	B	0.41%	0.47%	0.41%
XOM	B	0.5%	2.95%	0.5%

QDEF Overweight 104 Positions Relative to VLLU

Symbol	Grade	Weight
AAPL	C	6.07%
NVDA	C	6.0%
MSFT	F	4.97%
HD	A	3.07%
JNJ	D	2.93%
PG	A	2.83%
META	D	2.76%
ABBV	D	2.6%
MRK	F	2.25%
IBM	C	1.7%
QCOM	F	1.65%
PM	B	1.65%
GOOGL	C	1.36%
INTU	C	1.29%
TMUS	B	1.14%
ADP	B	1.13%
GOOG	C	1.1%
LMT	D	1.05%
TJX	A	0.99%
SBUX	A	0.98%
AVGO	D	0.88%
AMT	D	0.82%
KLAC	D	0.79%
DUK	C	0.77%
ITW	B	0.74%
MSI	B	0.74%
CME	A	0.71%
MCK	B	0.71%
UNM	A	0.65%
KO	D	0.65%
BWXT	B	0.64%
PAYX	C	0.63%
UMBF	B	0.61%
CSCO	B	0.61%
FIS	C	0.6%
EA	A	0.6%
AFL	B	0.6%
CFR	B	0.6%
GEN	B	0.59%
PSA	D	0.59%
AIZ	A	0.58%
WTW	B	0.58%
FAST	B	0.58%
VIRT	B	0.57%
CSWI	A	0.57%
VRSK	A	0.57%
D	C	0.56%
WDFC	B	0.55%
PPL	B	0.55%
ORI	A	0.54%
ESS	B	0.54%
RMD	C	0.54%
K	A	0.53%
CSL	C	0.53%
OHI	C	0.53%
MET	A	0.53%
EQR	B	0.53%
MAA	B	0.53%
PNW	B	0.52%
IRDM	D	0.52%
CPT	B	0.51%
OTIS	C	0.51%
KMB	D	0.51%
OMF	A	0.5%
LSTR	D	0.49%
ED	D	0.49%
AVY	D	0.48%
DOX	D	0.48%
BPOP	B	0.48%
RDN	C	0.48%
NSA	D	0.47%
OGE	B	0.47%
IPG	D	0.46%
DELL	C	0.46%
BMY	B	0.45%
VRT	B	0.45%
WU	D	0.43%
EXPD	D	0.42%
SAIC	F	0.41%
DPZ	C	0.41%
CUBE	D	0.4%
EVRG	A	0.4%
EBAY	D	0.4%
EXC	C	0.39%
CHE	D	0.39%
SWKS	F	0.39%
V	A	0.38%
MSM	C	0.37%
BSY	D	0.37%
STWD	C	0.32%
NEP	F	0.32%
WEC	A	0.28%
PEG	A	0.26%
COST	B	0.24%
MA	C	0.23%
MAS	D	0.23%
NNN	D	0.21%
AVB	B	0.18%
SCCO	F	0.16%
BAH	F	0.12%
DDS	B	0.12%
WMT	A	0.12%
ROL	B	0.12%
ZTS	D	0.11%

QDEF Underweight 54 Positions Relative to VLLU

Symbol	Grade	Weight
CVX	A	-3.12%
AXP	A	-3.01%
HIG	B	-2.96%
BBY	D	-2.91%
BRK.A	B	-2.89%
DFS	B	-2.84%
HPQ	B	-2.82%
SYY	B	-2.75%
CTSH	B	-2.49%
EOG	A	-2.45%
TGT	F	-2.34%
CMCSA	B	-2.06%
JXN	C	-2.03%
LPX	B	-1.94%
VLO	C	-1.93%
KR	B	-1.9%
NRG	B	-1.54%
MLI	C	-1.52%
SYF	B	-1.5%
MPC	D	-1.44%
FLEX	A	-1.42%
PPC	C	-1.23%
UHS	D	-1.01%
THC	D	-0.95%
PGR	A	-0.84%
MATX	C	-0.81%
WFC	A	-0.6%
ACGL	D	-0.6%
CALM	A	-0.59%
LOPE	B	-0.58%
FTDR	A	-0.57%
GM	B	-0.55%
DIS	B	-0.55%
GS	A	-0.54%
DXC	B	-0.54%
AMR	C	-0.53%
CB	C	-0.52%
TSN	B	-0.52%
COP	C	-0.52%
DBX	B	-0.51%
JBL	B	-0.5%
C	A	-0.5%
BJ	A	-0.49%
PFG	D	-0.49%
ELV	F	-0.49%
L	A	-0.49%
LEN	D	-0.48%
CAT	B	-0.48%
NNI	D	-0.46%
MTG	C	-0.46%
ADM	D	-0.45%
RNR	C	-0.45%
MMS	F	-0.44%
NVR	D	-0.42%