QDF vs. FDIS ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Fidelity MSCI Consumer Discretionary Index ETF (FDIS)

QDF

FlexShares Quality Dividend Index Fund

QDF 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 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 similar to that of the Northern Trust 1250 IndexSM (the "Parent Index"). It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$70.70

Average Daily Volume

47,402

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

FDIS

Fidelity MSCI Consumer Discretionary Index ETF

FDIS Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Consumer Discretionary Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Consumer Discretionary Index, which represents the performance of the consumer discretionary sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Consumer Discretionary Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$85.99

Average Daily Volume

135,933

Number of Holdings ^*

263

* may have additional holdings in another (foreign) market

Performance

Period	QDF	FDIS
30 Days	1.06%	4.88%
60 Days	6.12%	11.33%
90 Days	6.53%	5.79%
12 Months	32.13%	29.26%

15 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in FDIS	Overlap
BBWI	F	0.01%	0.13%	0.01%
BKNG	C	0.06%	2.5%	0.06%
DPZ	D	0.17%	0.28%	0.17%
EBAY	A	0.62%	0.59%	0.59%
HD	A	1.73%	6.7%	1.73%
HRB	C	0.18%	0.19%	0.18%
KTB	B	0.52%	0.1%	0.1%
LOW	A	1.25%	2.61%	1.25%
MAR	B	0.04%	1.08%	0.04%
NKE	D	0.98%	1.88%	0.98%
POOL	B	0.46%	0.27%	0.27%
SBUX	B	0.71%	1.91%	0.71%
TPR	B	0.46%	0.22%	0.22%
WING	B	0.26%	0.25%	0.25%
WSM	B	0.49%	0.36%	0.36%

QDF Overweight 110 Positions Relative to FDIS

Symbol	Grade	Weight
AAPL	C	8.55%
MSFT	D	5.1%
NVDA	C	5.03%
JNJ	D	3.18%
META	A	3.16%
PG	C	3.09%
ABBV	A	3.01%
KO	C	2.51%
ACN	B	1.86%
GOOGL	B	1.71%
QCOM	D	1.71%
INTU	F	1.64%
GOOG	B	1.51%
UNP	D	1.33%
PM	C	1.3%
ADP	A	1.04%
LRCX	D	0.98%
GILD	A	0.95%
KLAC	B	0.95%
AVGO	C	0.93%
ZTS	C	0.81%
MO	D	0.81%
CAT	A	0.76%
MS	B	0.76%
ITW	A	0.71%
MMM	C	0.69%
LMT	A	0.67%
VRT	B	0.66%
PSA	C	0.65%
JPM	D	0.65%
BK	C	0.62%
AFL	A	0.61%
FAST	B	0.6%
PAYX	A	0.6%
PEG	A	0.6%
FIS	C	0.59%
PRU	C	0.58%
AVB	C	0.58%
D	A	0.58%
MAA	C	0.57%
NSA	C	0.56%
EQR	C	0.56%
OHI	C	0.55%
SMG	A	0.55%
MPC	F	0.55%
NXPI	F	0.55%
MCHP	F	0.54%
CPT	C	0.54%
MET	A	0.54%
CHRW	A	0.54%
STWD	C	0.53%
MRK	F	0.53%
IVZ	A	0.52%
WTW	B	0.52%
VIRT	B	0.52%
JHG	C	0.52%
NEP	D	0.51%
IPG	C	0.51%
ORI	B	0.51%
VLO	F	0.51%
CMA	C	0.51%
UGI	C	0.5%
RDN	D	0.5%
EA	D	0.5%
BPOP	D	0.5%
WU	D	0.5%
XOM	A	0.49%
DVN	F	0.49%
OGE	A	0.49%
FAF	B	0.47%
SWKS	F	0.47%
WY	B	0.46%
SNA	A	0.45%
HST	D	0.44%
WDFC	B	0.43%
NUE	D	0.43%
OMF	F	0.43%
WMS	D	0.42%
EVRG	C	0.41%
TT	A	0.41%
CUBE	C	0.41%
SCCO	B	0.4%
PFG	C	0.39%
CTAS	B	0.37%
EIX	A	0.35%
APLE	D	0.35%
RHI	D	0.35%
V	C	0.35%
ALLY	F	0.35%
LNC	D	0.35%
CFR	D	0.34%
IRDM	B	0.32%
OLN	D	0.28%
BR	B	0.28%
NNN	A	0.26%
MA	A	0.25%
COST	C	0.24%
NTAP	D	0.23%
RMD	C	0.18%
CL	D	0.17%
PNW	A	0.15%
BSY	D	0.14%
PAYC	D	0.13%
WMT	A	0.12%
EXP	C	0.08%
WFRD	F	0.07%
CSWI	B	0.06%
COP	D	0.04%
STNG	D	0.02%
BAC	D	0.02%

QDF Underweight 248 Positions Relative to FDIS

Symbol	Grade	Weight
AMZN	C	-22.3%
TSLA	C	-12.38%
MCD	A	-3.74%
TJX	C	-2.3%
MELI	C	-1.66%
CMG	C	-1.39%
ORLY	A	-1.2%
HLT	A	-1.03%
ABNB	D	-1.0%
DHI	C	-0.99%
AZO	D	-0.96%
GM	D	-0.93%
ROST	C	-0.91%
RCL	C	-0.8%
LEN	B	-0.79%
F	D	-0.74%
DASH	A	-0.72%
YUM	A	-0.69%
PHM	A	-0.55%
LULU	D	-0.55%
NVR	A	-0.55%
TSCO	A	-0.55%
GRMN	D	-0.49%
DECK	B	-0.44%
ULTA	D	-0.37%
EXPE	B	-0.37%
APTV	D	-0.37%
BBY	B	-0.37%
DRI	C	-0.37%
GPC	D	-0.36%
CVNA	A	-0.35%
CCL	C	-0.35%
LVS	B	-0.34%
BURL	D	-0.34%
DKNG	D	-0.33%
TOL	A	-0.3%
BLD	C	-0.25%
DKS	D	-0.25%
FND	C	-0.24%
KMX	F	-0.24%
SCI	C	-0.23%
TXRH	A	-0.23%
LKQ	F	-0.21%
HAS	A	-0.2%
ARMK	A	-0.2%
MUSA	D	-0.2%
CZR	B	-0.19%
SKX	B	-0.19%
NCLH	C	-0.19%
TPX	C	-0.19%
MGM	D	-0.19%
DUOL	B	-0.19%
CHDN	D	-0.18%
CROX	C	-0.18%
LAD	C	-0.18%
WYNN	B	-0.18%
MHK	B	-0.18%
RL	B	-0.17%
BFAM	C	-0.17%
BWA	B	-0.17%
LNW	F	-0.17%
RIVN	F	-0.17%
VFC	B	-0.16%
MTH	C	-0.16%
TMHC	C	-0.16%
PLNT	B	-0.16%
KBH	C	-0.15%
WH	C	-0.15%
MAT	D	-0.15%
GNTX	D	-0.15%
MTN	D	-0.15%
MOD	B	-0.15%
H	C	-0.15%
ANF	F	-0.15%
IBP	B	-0.14%
ETSY	F	-0.14%
GME	F	-0.14%
OLLI	C	-0.14%
ALV	F	-0.14%
GPI	C	-0.13%
THO	B	-0.13%
BC	D	-0.13%
BOOT	A	-0.13%
LEA	F	-0.13%
WHR	B	-0.13%
MHO	C	-0.12%
HOG	D	-0.12%
VVV	D	-0.12%
PVH	F	-0.12%
CHWY	C	-0.12%
RH	C	-0.12%
SKY	B	-0.12%
TPH	C	-0.11%
FTDR	C	-0.11%
CHH	B	-0.11%
PII	D	-0.11%
BROS	F	-0.11%
W	D	-0.11%
ASO	D	-0.11%
GAP	F	-0.11%
CPRI	B	-0.11%
FIVE	D	-0.11%
AN	C	-0.11%
BYD	C	-0.11%
LRN	C	-0.1%
EAT	A	-0.1%
SHAK	C	-0.1%
LOPE	D	-0.1%
ABG	D	-0.1%
SGBX	F	-0.1%
SIG	C	-0.1%
HBI	B	-0.09%
GRBK	C	-0.09%
TNL	B	-0.09%
ATGE	D	-0.09%
PAG	D	-0.09%
DORM	C	-0.09%
PATK	C	-0.09%
CVCO	B	-0.09%
YETI	B	-0.09%
SHOO	A	-0.09%
LCID	D	-0.09%
M	F	-0.09%
AEO	B	-0.09%
LGIH	C	-0.08%
RRR	D	-0.08%
COLM	B	-0.08%
GHC	B	-0.08%
PENN	D	-0.08%
NWL	D	-0.08%
WEN	D	-0.08%
LCII	B	-0.08%
CCS	C	-0.08%
WWW	A	-0.07%
GOLF	F	-0.07%
QS	F	-0.07%
LEG	D	-0.07%
URBN	F	-0.07%
LZB	C	-0.07%
UAA	B	-0.07%
CAKE	A	-0.07%
VAC	D	-0.07%
ADTN	B	-0.07%
LAUR	C	-0.07%
VSCO	C	-0.07%
LTH	C	-0.07%
JWN	D	-0.07%
VC	F	-0.07%
VSTO	D	-0.07%
CRI	D	-0.07%
PHIN	C	-0.07%
FL	F	-0.07%
PTON	C	-0.07%
HGV	F	-0.07%
CWH	C	-0.06%
BKE	D	-0.06%
FOXF	F	-0.06%
WGO	D	-0.06%
AAP	F	-0.06%
STRA	F	-0.06%
UA	B	-0.06%
OSW	C	-0.06%
SABR	B	-0.06%
PZZA	D	-0.06%
ADNT	D	-0.06%
GT	F	-0.06%
SBH	C	-0.06%
KSS	D	-0.06%
EVRI	A	-0.06%
LEVI	B	-0.06%
ETD	C	-0.05%
CBRL	D	-0.05%
BLMN	F	-0.05%
UTI	D	-0.05%
SAH	D	-0.05%
DAN	D	-0.05%
MBUU	D	-0.05%
OXM	F	-0.05%
VZIO	A	-0.05%
COUR	F	-0.05%
FLUT	C	-0.05%
SONO	D	-0.05%
MNRO	B	-0.05%
CAL	F	-0.05%
HZO	D	-0.05%
MODG	F	-0.05%
PTLO	C	-0.05%
BZH	C	-0.05%
SCVL	D	-0.05%
FIGS	B	-0.05%
WINA	D	-0.05%
WRBY	C	-0.05%
DFH	C	-0.05%
DDS	D	-0.05%
RVLV	C	-0.05%
HOV	D	-0.05%
XPEL	D	-0.05%
GIII	C	-0.05%
MCRI	B	-0.05%
THRM	F	-0.05%
EYE	F	-0.04%
UDMY	F	-0.04%
AXL	F	-0.04%
PRDO	D	-0.04%
PLAY	D	-0.04%
ACEL	C	-0.04%
BJRI	D	-0.04%
GTX	F	-0.04%
ODP	F	-0.04%
JACK	F	-0.04%
MCW	F	-0.04%
PLYA	D	-0.04%
HELE	D	-0.04%
RGR	F	-0.04%
WOR	F	-0.04%
CHUY	B	-0.04%
SMP	D	-0.04%
DNUT	D	-0.04%
GDEN	D	-0.04%
RICK	F	-0.03%
LESL	F	-0.03%
BALY	A	-0.03%
WOOF	A	-0.03%
ARKO	C	-0.03%
KRUS	D	-0.03%
DIN	D	-0.03%
ARHS	F	-0.03%
GES	F	-0.03%
FWRG	F	-0.03%
SWBI	F	-0.03%
GRPN	F	-0.02%
LAZR	F	-0.02%
TH	F	-0.02%
XPOF	F	-0.02%
MOV	F	-0.02%
DBI	F	-0.02%
CRCT	C	-0.02%
LEGH	C	-0.02%
BOWL	F	-0.02%
SRI	F	-0.02%
CRMT	F	-0.02%
DENN	D	-0.02%
LIND	D	-0.02%
HVT	F	-0.02%
FLWS	F	-0.01%
EWCZ	F	-0.01%
RSI	C	-0.0%
AMRK	B	-0.0%