QDF vs. IVOV ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Vanguard S&P Mid-Cap 400 Value ETF (IVOV)

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

$72.76

Average Daily Volume

26,182

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

IVOV

Vanguard S&P Mid-Cap 400 Value ETF

IVOV Description

The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization value stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the S&P MidCap 400Â® Value Index, which represents the value companies of the S&P MidCap 400 Index. The index measures the performance of mid-capitalization value stocks. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$103.46

Average Daily Volume

15,333

Number of Holdings ^*

284

* may have additional holdings in another (foreign) market

Performance

Period	QDF	IVOV
30 Days	1.66%	7.33%
60 Days	2.62%	8.59%
90 Days	4.00%	9.69%
12 Months	26.92%	31.86%

16 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in IVOV	Overlap
ALLY	C	0.37%	0.68%	0.37%
CFR	B	0.42%	0.33%	0.33%
CUBE	D	0.37%	0.34%	0.34%
FAF	A	0.47%	0.46%	0.46%
IRDM	D	0.31%	0.12%	0.12%
JHG	A	0.6%	0.37%	0.37%
NNN	D	0.23%	0.35%	0.23%
NSA	D	0.49%	0.11%	0.11%
OGE	B	0.51%	0.57%	0.51%
OHI	C	0.52%	0.46%	0.46%
OLN	D	0.25%	0.2%	0.2%
ORI	A	0.55%	0.59%	0.55%
SMG	D	0.5%	0.16%	0.16%
STWD	C	0.49%	0.44%	0.44%
UGI	A	0.49%	0.36%	0.36%
WU	D	0.45%	0.26%	0.26%

QDF Overweight 111 Positions Relative to IVOV

Symbol	Grade	Weight
AAPL	C	8.54%
NVDA	C	5.81%
MSFT	F	4.91%
META	D	3.1%
PG	A	3.03%
JNJ	D	3.01%
ABBV	D	2.58%
KO	D	2.16%
ACN	C	1.93%
GOOGL	C	1.84%
HD	A	1.77%
INTU	C	1.74%
QCOM	F	1.68%
GOOG	C	1.63%
PM	B	1.41%
LOW	D	1.27%
UNP	C	1.24%
ADP	B	1.11%
GILD	C	1.0%
MS	A	0.98%
MO	A	0.89%
AVGO	D	0.88%
LRCX	F	0.87%
VRT	B	0.83%
NKE	D	0.83%
SBUX	A	0.76%
KLAC	D	0.76%
CAT	B	0.75%
JPM	A	0.75%
ZTS	D	0.74%
ITW	B	0.74%
FAST	B	0.68%
BK	A	0.68%
MMM	D	0.65%
PAYX	C	0.63%
LMT	D	0.62%
FIS	C	0.62%
AFL	B	0.62%
PEG	A	0.61%
PRU	A	0.61%
VIRT	B	0.6%
KTB	B	0.6%
PSA	D	0.6%
D	C	0.59%
AVB	B	0.58%
EBAY	D	0.58%
EA	A	0.58%
CMA	A	0.58%
GEN	B	0.58%
TPR	B	0.57%
MET	A	0.56%
SNA	A	0.56%
WTW	B	0.56%
CHRW	C	0.55%
EQR	B	0.55%
MAA	B	0.55%
VLO	C	0.55%
MPC	D	0.54%
NXPI	D	0.52%
OMF	A	0.52%
CPT	B	0.51%
IVZ	B	0.51%
XOM	B	0.5%
RDN	C	0.49%
BPOP	B	0.48%
WDFC	B	0.47%
DVN	F	0.46%
MRK	F	0.45%
IPG	D	0.45%
MCHP	D	0.45%
POOL	C	0.44%
WSM	B	0.43%
TT	A	0.43%
NUE	C	0.42%
EVRG	A	0.42%
WY	D	0.42%
HST	C	0.41%
SWKS	F	0.4%
V	A	0.4%
CTAS	B	0.39%
LNC	B	0.39%
PFG	D	0.39%
RHI	B	0.38%
SCCO	F	0.36%
WMS	D	0.36%
APLE	B	0.35%
EIX	B	0.34%
NEP	F	0.3%
BR	A	0.3%
MA	C	0.26%
COST	B	0.24%
NTAP	C	0.22%
WING	D	0.2%
HRB	D	0.17%
RMD	C	0.17%
DPZ	C	0.17%
PNW	B	0.16%
PAYC	B	0.16%
CL	D	0.15%
COR	B	0.14%
WMT	A	0.13%
BSY	D	0.13%
EXP	A	0.08%
WFRD	D	0.07%
CSWI	A	0.07%
BKNG	A	0.07%
MAR	B	0.05%
COP	C	0.04%
STNG	F	0.02%
BAC	A	0.02%
BBWI	D	0.01%

QDF Underweight 268 Positions Relative to IVOV

Symbol	Grade	Weight
ILMN	D	-1.62%
FNF	B	-1.1%
USFD	A	-1.06%
THC	D	-1.05%
COHR	B	-1.0%
DOCU	A	-1.0%
RGA	A	-0.98%
JLL	D	-0.91%
PFGC	B	-0.89%
WPC	D	-0.86%
BJ	A	-0.79%
RRX	B	-0.78%
UNM	A	-0.77%
SF	B	-0.75%
AA	B	-0.73%
JEF	A	-0.73%
ARMK	B	-0.7%
CNH	C	-0.69%
AFG	A	-0.66%
FHN	A	-0.65%
UTHR	C	-0.64%
WBS	A	-0.63%
FLR	B	-0.63%
SNX	C	-0.62%
AAL	B	-0.62%
AVTR	F	-0.62%
GME	C	-0.61%
X	C	-0.61%
GPK	C	-0.6%
WCC	B	-0.6%
GMED	A	-0.59%
KNX	B	-0.59%
XPO	B	-0.57%
BERY	B	-0.57%
FYBR	D	-0.56%
CACI	D	-0.55%
GLPI	C	-0.55%
ZION	B	-0.54%
WTFC	A	-0.54%
ACM	A	-0.54%
ADC	B	-0.53%
RPM	A	-0.53%
MTZ	B	-0.53%
AR	B	-0.53%
SFM	A	-0.53%
SSB	B	-0.52%
SNV	B	-0.51%
TPL	A	-0.51%
TMHC	B	-0.5%
PB	A	-0.49%
IBKR	A	-0.48%
EQH	B	-0.48%
BIO	D	-0.48%
VNO	B	-0.48%
OSK	B	-0.47%
R	B	-0.45%
ESNT	D	-0.45%
AGCO	D	-0.44%
CMC	B	-0.44%
FBIN	D	-0.44%
EWBC	A	-0.44%
DAR	C	-0.44%
BURL	A	-0.44%
G	B	-0.44%
DINO	D	-0.44%
ARW	D	-0.44%
VMI	B	-0.44%
CLF	F	-0.43%
CADE	B	-0.43%
NOV	C	-0.43%
ONB	B	-0.43%
RNR	C	-0.43%
CCK	C	-0.42%
GBCI	B	-0.42%
LAD	A	-0.42%
COLB	A	-0.42%
AMG	B	-0.41%
SCI	B	-0.41%
KRG	B	-0.4%
WHR	B	-0.4%
SRCL	C	-0.4%
REXR	F	-0.4%
CG	A	-0.39%
PVH	C	-0.39%
EHC	B	-0.39%
BMRN	D	-0.39%
INGR	B	-0.39%
NFG	A	-0.39%
THO	B	-0.39%
DKS	C	-0.38%
NXST	C	-0.38%
THG	A	-0.38%
CIEN	B	-0.38%
LEA	D	-0.38%
ST	F	-0.37%
FNB	A	-0.37%
KD	B	-0.37%
WTRG	B	-0.36%
HOMB	A	-0.36%
UBSI	B	-0.36%
SON	D	-0.36%
POST	C	-0.36%
PNFP	B	-0.34%
AVT	C	-0.34%
SAIC	F	-0.34%
KBR	F	-0.34%
UMBF	B	-0.34%
LAMR	D	-0.34%
POR	C	-0.34%
CW	B	-0.33%
BDC	B	-0.33%
CUZ	B	-0.33%
XRAY	F	-0.33%
ELS	C	-0.33%
VOYA	B	-0.33%
AYI	B	-0.32%
SBRA	C	-0.32%
BRX	A	-0.32%
NJR	A	-0.32%
ATR	B	-0.32%
GAP	C	-0.32%
RGLD	C	-0.32%
LITE	B	-0.31%
TTC	D	-0.31%
FLO	D	-0.31%
IRT	A	-0.31%
SWX	B	-0.31%
TKO	B	-0.31%
AMH	D	-0.31%
WAL	B	-0.31%
SLGN	A	-0.3%
M	D	-0.3%
KRC	C	-0.3%
ORA	B	-0.3%
AVNT	B	-0.3%
CBSH	A	-0.3%
VLY	B	-0.29%
AN	C	-0.29%
ASGN	F	-0.29%
BKH	A	-0.29%
ASH	D	-0.29%
PNM	F	-0.28%
JAZZ	B	-0.28%
BRBR	A	-0.28%
MTG	C	-0.28%
OGS	A	-0.28%
KMPR	B	-0.27%
HOG	D	-0.27%
DCI	B	-0.27%
FLS	B	-0.27%
KEX	C	-0.27%
CGNX	C	-0.27%
MAT	D	-0.27%
HQY	B	-0.26%
CNO	A	-0.26%
PII	D	-0.26%
CNM	D	-0.26%
SR	A	-0.26%
SEIC	B	-0.26%
ALE	A	-0.26%
MIDD	C	-0.25%
PRGO	B	-0.25%
ASB	B	-0.25%
TCBI	B	-0.25%
NVST	B	-0.25%
FR	C	-0.25%
IDA	A	-0.24%
STAG	F	-0.24%
MKSI	C	-0.24%
TKR	D	-0.23%
DTM	B	-0.23%
CHE	D	-0.23%
NWE	B	-0.23%
CYTK	F	-0.23%
GATX	A	-0.22%
FHI	A	-0.22%
EGP	F	-0.22%
EVR	B	-0.21%
MAN	D	-0.21%
PCH	D	-0.21%
FFIN	B	-0.2%
PAG	B	-0.2%
NEOG	F	-0.2%
KBH	D	-0.2%
PBF	D	-0.2%
BHF	B	-0.2%
SLM	A	-0.2%
AMKR	D	-0.2%
EXLS	B	-0.2%
GHC	C	-0.2%
GXO	B	-0.19%
CXT	B	-0.19%
CC	C	-0.19%
ALV	C	-0.19%
CVLT	B	-0.19%
VAC	B	-0.18%
SIGI	C	-0.18%
BRKR	D	-0.18%
GNTX	C	-0.18%
CRUS	D	-0.18%
MUR	D	-0.18%
NOVT	D	-0.18%
RYN	D	-0.18%
DOCS	C	-0.18%
RH	B	-0.18%
EXPO	D	-0.17%
WH	B	-0.17%
MTSI	B	-0.17%
SRPT	D	-0.17%
MASI	A	-0.17%
HXL	D	-0.17%
CDP	C	-0.16%
OZK	B	-0.16%
ENS	D	-0.16%
RCM	F	-0.16%
RLI	B	-0.16%
GT	C	-0.16%
ENOV	C	-0.16%
BC	C	-0.15%
ALGM	D	-0.15%
MTN	C	-0.15%
ZI	D	-0.15%
HWC	B	-0.15%
LPX	B	-0.15%
JWN	C	-0.15%
VSH	D	-0.14%
CBT	C	-0.14%
PPC	C	-0.14%
CRI	D	-0.14%
LSTR	D	-0.14%
CNXC	F	-0.14%
AM	A	-0.14%
AMED	F	-0.13%
LFUS	F	-0.13%
IBOC	A	-0.13%
DLB	B	-0.13%
EEFT	B	-0.13%
ROIV	C	-0.13%
MSM	C	-0.12%
POWI	D	-0.12%
LANC	C	-0.12%
LIVN	F	-0.12%
OPCH	D	-0.12%
CHX	C	-0.12%
WEN	D	-0.11%
TEX	D	-0.11%
KNF	A	-0.11%
SYNA	C	-0.11%
GEF	A	-0.11%
CHH	A	-0.11%
UAA	C	-0.11%
VC	D	-0.1%
COLM	B	-0.1%
SAM	C	-0.1%
MMS	F	-0.1%
NSP	D	-0.1%
PSN	D	-0.1%
HAE	C	-0.1%
CPRI	F	-0.09%
IPGP	D	-0.09%
EPR	D	-0.09%
YETI	C	-0.08%
BLKB	B	-0.08%
TNL	A	-0.07%
UA	C	-0.07%
WMG	C	-0.07%
HGV	B	-0.06%
AZTA	D	-0.05%