QDEF vs. ZECP ETF Comparison

Comparison of FlexShares Quality Dividend Defensive Index Fund (QDEF) to Zacks Earnings Consistent Portfolio ETF (ZECP)

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

$71.06

Average Daily Volume

6,166

Number of Holdings ^*

121

* may have additional holdings in another (foreign) market

ZECP

Zacks Earnings Consistent Portfolio ETF

ZECP Description

The Zacks Earnings Consistent Portfolio ETF seeks to provide long-term total returns and minimize capital loss. The Fund pursues its investment objective by constructing a portfolio of companies that exhibit a track record of moving through recessionary periods with little to minimal impact on aggregate earnings growth relative to the overall equity market.

Grade (RS Rating)

Last Trade

$30.68

Average Daily Volume

30,252

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDEF	ZECP
30 Days	1.50%	0.69%
60 Days	6.70%	5.36%
90 Days	8.31%	5.65%
12 Months	34.86%	28.77%

14 Overlapping Holdings

Symbol	Grade	Weight in QDEF	Weight in ZECP	Overlap
AAPL	C	6.16%	7.0%	6.16%
CAH	B	0.16%	0.7%	0.16%
GOOGL	C	1.27%	4.79%	1.27%
HD	A	2.99%	2.69%	2.69%
IBM	C	1.76%	0.97%	0.97%
INTU	F	1.22%	1.33%	1.22%
JNJ	C	3.22%	1.53%	1.53%
JPM	D	0.64%	2.71%	0.64%
MAA	C	0.56%	0.92%	0.56%
MET	A	0.52%	1.54%	0.52%
MRK	F	2.72%	1.38%	1.38%
MSFT	C	5.17%	6.58%	5.17%
PG	C	2.94%	3.05%	2.94%
WMT	A	0.11%	2.62%	0.11%

QDEF Overweight 107 Positions Relative to ZECP

Symbol	Grade	Weight
NVDA	C	4.88%
ABBV	A	3.01%
META	A	2.71%
QCOM	D	1.77%
PM	B	1.56%
LMT	A	1.11%
ADP	A	1.05%
GOOG	C	1.03%
TJX	C	0.99%
AMT	C	0.99%
SBUX	B	0.97%
TMUS	A	0.97%
KLAC	D	0.96%
GILD	A	0.95%
CI	C	0.92%
AVGO	C	0.88%
DUK	B	0.81%
MO	B	0.79%
T	A	0.75%
KO	B	0.75%
ITW	B	0.71%
VZ	A	0.7%
CME	A	0.69%
MMM	B	0.68%
MSI	A	0.67%
PSA	C	0.65%
BK	C	0.63%
MCK	F	0.6%
AFL	A	0.6%
D	A	0.58%
FIS	C	0.58%
PAYX	A	0.58%
RMD	C	0.57%
EME	C	0.56%
ESS	C	0.56%
EQR	C	0.56%
UMBF	C	0.55%
CSCO	A	0.55%
KMB	B	0.55%
LDOS	A	0.54%
WTW	A	0.54%
VRSK	D	0.54%
NSA	C	0.54%
CPT	C	0.54%
OHI	C	0.54%
GIS	B	0.53%
PPL	A	0.53%
K	B	0.53%
ED	A	0.53%
PNW	A	0.52%
ORI	A	0.52%
BPOP	D	0.52%
CSL	A	0.52%
UNM	A	0.52%
AVY	B	0.52%
EA	D	0.52%
AIZ	A	0.52%
CSWI	B	0.51%
CFR	D	0.51%
NEP	D	0.51%
WDFC	C	0.51%
FAST	C	0.51%
VIRT	C	0.51%
DOX	B	0.5%
BWXT	A	0.5%
IRDM	C	0.5%
OTIS	A	0.5%
IPG	C	0.5%
RDN	D	0.5%
LSTR	D	0.49%
HRB	C	0.49%
WU	D	0.48%
XOM	B	0.48%
STNG	D	0.47%
SWKS	F	0.47%
WSM	C	0.47%
LOW	A	0.46%
CUBE	C	0.46%
OGE	A	0.46%
OMF	D	0.46%
EXPD	B	0.45%
SAIC	B	0.44%
EXC	A	0.41%
DELL	D	0.41%
CHE	B	0.41%
EBAY	A	0.41%
EVRG	B	0.4%
BSY	D	0.4%
DPZ	D	0.39%
BMY	B	0.38%
MSM	D	0.37%
VRT	B	0.35%
STWD	C	0.35%
V	C	0.35%
WEC	A	0.28%
MAS	A	0.25%
PEG	A	0.25%
NNN	A	0.24%
COST	C	0.23%
MA	A	0.22%
AVB	C	0.18%
SCCO	B	0.17%
ZTS	B	0.12%
BAH	A	0.12%
ROL	B	0.12%
DDS	D	0.1%
BAC	D	0.02%

QDEF Underweight 38 Positions Relative to ZECP

Symbol	Grade	Weight
UNH	B	-3.08%
LLY	D	-2.96%
CAT	A	-2.86%
AXP	A	-2.66%
SNPS	F	-2.48%
MMC	D	-2.19%
CTAS	C	-2.16%
NFLX	C	-2.11%
HIG	A	-2.04%
AEP	B	-1.97%
AMP	A	-1.89%
PEP	D	-1.86%
RSG	D	-1.81%
ACN	B	-1.81%
ORCL	C	-1.56%
AMGN	D	-1.54%
MCO	C	-1.48%
HSY	D	-1.47%
HON	B	-1.38%
MAR	B	-1.37%
TMO	C	-1.21%
TXN	C	-1.2%
SYK	C	-1.18%
SO	A	-1.18%
ABT	C	-1.16%
PNC	C	-1.15%
AWK	C	-1.08%
BSX	A	-1.07%
MCD	A	-1.07%
NEE	A	-0.98%
WRB	B	-0.98%
GD	A	-0.98%
RTX	A	-0.9%
MOH	D	-0.88%
DHR	B	-0.86%
BLK	B	-0.86%
PLD	D	-0.77%
CHD	B	-0.77%