QDF vs. GIGB ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB)

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

$70.71

Average Daily Volume

44,851

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

GIGB

Goldman Sachs Access Investment Grade Corporate Bond ETF

GIGB Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Citi Goldman Sachs Investment Grade Corporate Bond Index (the "index"). The fund seeks to achieve its investment objective by investing at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its underlying index. The index is a rules-based index that is designed to measure the performance of investment grade, corporate bonds denominated in U.S. dollars ("USD") that meet certain liquidity and fundamental screening criteria.

Grade (RS Rating)

Last Trade

$47.45

Average Daily Volume

63,165

Number of Holdings ^*

184

* may have additional holdings in another (foreign) market

Performance

Period	QDF	GIGB
30 Days	1.56%	1.48%
60 Days	3.49%	4.74%
90 Days	6.32%	5.44%
12 Months	28.53%	12.78%

45 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in GIGB	Overlap
AAPL	C	8.27%	0.01%	0.01%
ABBV	C	3.1%	0.04%	0.04%
ALLY	D	0.35%	0.04%	0.04%
AVGO	C	0.89%	0.01%	0.01%
BAC	D	0.02%	0.01%	0.01%
BK	A	0.62%	0.01%	0.01%
CAT	B	0.69%	0.01%	0.01%
COP	D	0.04%	0.02%	0.02%
COST	B	0.24%	0.03%	0.03%
DVN	D	0.48%	0.02%	0.02%
EBAY	B	0.62%	0.01%	0.01%
EIX	C	0.35%	0.03%	0.03%
FIS	B	0.61%	0.03%	0.03%
GILD	B	0.96%	0.05%	0.05%
GOOGL	D	1.69%	0.04%	0.04%
ITW	C	0.71%	0.04%	0.04%
JNJ	C	3.32%	0.01%	0.01%
JPM	D	0.65%	0.01%	0.01%
KLAC	D	0.92%	0.04%	0.04%
KO	B	2.57%	0.01%	0.01%
LMT	B	0.68%	0.01%	0.01%
LRCX	F	0.95%	0.04%	0.04%
MA	B	0.26%	0.02%	0.02%
MAR	C	0.04%	0.03%	0.03%
MET	A	0.53%	0.03%	0.03%
MMM	A	0.69%	0.01%	0.01%
MO	C	0.84%	0.01%	0.01%
MPC	D	0.55%	0.02%	0.02%
MS	C	0.75%	0.01%	0.01%
MSFT	C	5.21%	0.01%	0.01%
NKE	D	0.9%	0.02%	0.02%
NVDA	D	4.94%	0.05%	0.05%
NXPI	D	0.55%	0.02%	0.02%
PM	C	1.38%	0.01%	0.01%
PRU	C	0.58%	0.01%	0.01%
QCOM	F	1.74%	0.02%	0.02%
SBUX	C	0.74%	0.01%	0.01%
SCCO	D	0.36%	0.05%	0.05%
UNP	C	1.37%	0.05%	0.05%
V	C	0.38%	0.01%	0.01%
VLO	F	0.53%	0.04%	0.04%
WMT	B	0.12%	0.02%	0.02%
WY	C	0.45%	0.03%	0.03%
XOM	D	0.48%	0.01%	0.01%
ZTS	C	0.83%	0.03%	0.03%

QDF Overweight 80 Positions Relative to GIGB

Symbol	Grade	Weight
PG	C	3.22%
META	A	3.04%
ACN	C	1.98%
INTU	C	1.69%
HD	A	1.68%
GOOG	D	1.49%
LOW	A	1.23%
ADP	B	1.06%
PSA	B	0.66%
PAYX	C	0.62%
AFL	C	0.62%
D	B	0.61%
AVB	C	0.6%
VRT	C	0.6%
MAA	C	0.59%
FAST	C	0.59%
PEG	A	0.59%
EQR	C	0.58%
NSA	B	0.57%
MRK	D	0.56%
VIRT	C	0.55%
OHI	C	0.55%
WTW	C	0.54%
CPT	B	0.54%
MCHP	D	0.54%
ORI	B	0.53%
EA	D	0.53%
KTB	A	0.52%
IPG	C	0.52%
RDN	C	0.52%
STWD	B	0.52%
JHG	B	0.51%
CHRW	A	0.51%
NEP	C	0.5%
BPOP	C	0.5%
CMA	A	0.5%
OGE	B	0.5%
WU	D	0.5%
IVZ	B	0.49%
FAF	C	0.49%
UGI	C	0.49%
SMG	C	0.48%
WSM	D	0.47%
SWKS	F	0.47%
SNA	C	0.45%
POOL	D	0.45%
OMF	D	0.45%
TPR	C	0.44%
WDFC	C	0.44%
NUE	F	0.42%
EVRG	B	0.42%
HST	C	0.42%
CUBE	B	0.42%
WMS	D	0.41%
TT	A	0.4%
CTAS	C	0.38%
PFG	B	0.38%
LNC	D	0.34%
CFR	C	0.34%
RHI	D	0.33%
APLE	C	0.33%
IRDM	D	0.31%
BR	D	0.29%
OLN	D	0.27%
NNN	C	0.27%
WING	B	0.25%
NTAP	D	0.22%
RMD	C	0.19%
HRB	C	0.18%
CL	C	0.17%
PNW	B	0.16%
DPZ	D	0.16%
BSY	D	0.14%
PAYC	D	0.13%
EXP	B	0.08%
WFRD	F	0.07%
CSWI	B	0.06%
BKNG	B	0.06%
STNG	F	0.02%
BBWI	F	0.01%

QDF Underweight 139 Positions Relative to GIGB

Symbol	Grade	Weight
CB	B	-0.16%
WDC	D	-0.14%
DHR	C	-0.12%
TD	A	-0.11%
WAB	A	-0.1%
GLPI	C	-0.1%
KOF	D	-0.09%
GPN	D	-0.09%
DFS	B	-0.09%
DELL	C	-0.08%
OTIS	C	-0.07%
AER	B	-0.07%
SLB	F	-0.07%
SHW	B	-0.07%
CSCO	B	-0.07%
KEY	B	-0.07%
RSG	D	-0.06%
REGN	C	-0.06%
WBA	F	-0.06%
SYY	D	-0.06%
EOG	D	-0.06%
CM	A	-0.06%
TMUS	C	-0.06%
NEM	B	-0.05%
MDT	C	-0.05%
CF	C	-0.05%
OMC	B	-0.05%
TMO	C	-0.05%
HCA	A	-0.05%
CAG	C	-0.05%
DD	B	-0.05%
KHC	C	-0.05%
HBAN	B	-0.05%
FOXA	B	-0.05%
HRL	D	-0.04%
HPE	D	-0.04%
GE	A	-0.04%
HPQ	D	-0.04%
SWK	B	-0.04%
TXN	C	-0.04%
DLTR	F	-0.04%
TGT	C	-0.04%
BNS	A	-0.04%
NOC	A	-0.04%
TFC	D	-0.04%
FITB	B	-0.04%
RY	C	-0.04%
VTRS	D	-0.04%
ARE	C	-0.03%
RPRX	D	-0.03%
LUV	C	-0.03%
DE	B	-0.03%
HES	D	-0.03%
GIS	B	-0.03%
BDX	F	-0.03%
CRM	D	-0.03%
DOW	D	-0.03%
LYB	F	-0.03%
JEF	B	-0.03%
SYF	C	-0.03%
PCG	B	-0.03%
BABA	B	-0.03%
PSX	D	-0.03%
PAA	C	-0.03%
CARR	B	-0.03%
SO	A	-0.03%
C	D	-0.03%
AXP	B	-0.03%
HAL	F	-0.03%
EXPE	C	-0.02%
ZBH	F	-0.02%
AMAT	D	-0.02%
ED	C	-0.02%
TSN	D	-0.02%
ADBE	F	-0.02%
ABT	C	-0.02%
OKE	B	-0.02%
BHP	D	-0.02%
EPD	B	-0.02%
DB	B	-0.02%
ETN	C	-0.02%
TAP	D	-0.02%
MPLX	B	-0.02%
HSBC	B	-0.02%
ADM	D	-0.01%
FANG	D	-0.01%
BERY	C	-0.01%
WELL	C	-0.01%
LLY	C	-0.01%
GD	B	-0.01%
NI	B	-0.01%
EXC	B	-0.01%
CCI	C	-0.01%
AZN	D	-0.01%
SPG	A	-0.01%
AIG	D	-0.01%
KDP	B	-0.01%
DUK	B	-0.01%
MMC	C	-0.01%
ICE	C	-0.01%
COF	A	-0.01%
BSX	B	-0.01%
STT	B	-0.01%
PEP	D	-0.01%
FDX	F	-0.01%
EQNR	F	-0.01%
CSX	D	-0.01%
USB	B	-0.01%
MU	F	-0.01%
INTC	F	-0.01%
WMB	B	-0.01%
PNC	A	-0.01%
NWG	C	-0.01%
MUFG	D	-0.01%
HON	D	-0.01%
KMI	A	-0.01%
VOD	C	-0.01%
UPS	F	-0.01%
MCD	B	-0.01%
AMT	C	-0.01%
ORCL	B	-0.01%
CHTR	D	-0.01%
RTX	C	-0.01%
DIS	D	-0.01%
CMCSA	D	-0.01%
VZ	B	-0.01%
CI	C	-0.01%
BA	F	-0.01%
AMZN	C	-0.01%
IBM	A	-0.01%
PFE	C	-0.01%
GM	B	-0.01%
CVX	D	-0.01%
ET	B	-0.01%
ARCC	B	-0.01%
BMO	C	-0.01%
CVS	F	-0.01%
T	C	-0.01%
WFC	D	-0.01%