QDF vs. PFIX ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to Simplify Interest Rate Hedge ETF (PFIX)

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

$71.33

Average Daily Volume

45,847

Number of Holdings ^*

127

* may have additional holdings in another (foreign) market

PFIX

Simplify Interest Rate Hedge ETF

PFIX Description

The investment seeks to track the performance, before fees and expenses, of the SoFi Sustainable Dividend Index. The index follows a rules-based methodology that tracks the performance of the equity securities of publicly-traded, large- and mid-capitalization U.S. and non-U.S. companies in developed markets that are selected based on a set of dividend filters focused on dividend sustainability. The adviser attempts to invest all, or substantially all, of its assets in the component securities that make up the index. The fund will invest at least 80% its net assets in dividend paying securities. It is non-diversified.

Grade (RS Rating)

Last Trade

$43.92

Average Daily Volume

50,690

Number of Holdings ^*

107

* may have additional holdings in another (foreign) market

Performance

Period	QDF	PFIX
30 Days	3.71%	9.36%
60 Days	9.65%	8.43%
90 Days	6.61%	-9.02%
12 Months	31.89%	-20.49%

26 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in PFIX	Overlap
ADP	A	1.07%	0.79%	0.79%
AVB	C	0.57%	0.19%	0.19%
AVGO	B	0.91%	3.86%	0.91%
BAC	B	0.02%	1.73%	0.02%
BK	A	0.62%	0.29%	0.29%
CHRW	C	0.54%	0.06%	0.06%
COP	D	0.04%	1.01%	0.04%
EIX	C	0.35%	0.19%	0.19%
EVRG	C	0.41%	0.07%	0.07%
GILD	A	0.96%	0.66%	0.66%
HST	D	0.42%	0.11%	0.11%
JNJ	D	3.17%	2.83%	2.83%
JPM	C	0.64%	3.9%	0.64%
LMT	A	0.71%	0.82%	0.71%
MET	A	0.55%	0.32%	0.32%
MS	A	0.78%	0.81%	0.78%
NUE	D	0.43%	0.32%	0.32%
PAYX	B	0.63%	0.3%	0.3%
PEG	A	0.63%	0.23%	0.23%
PFG	A	0.39%	0.14%	0.14%
PG	D	3.08%	2.82%	2.82%
QCOM	D	1.73%	1.27%	1.27%
SNA	C	0.46%	0.1%	0.1%
SWKS	F	0.47%	0.12%	0.12%
VLO	F	0.53%	0.36%	0.36%
XOM	A	0.51%	3.19%	0.51%

QDF Overweight 101 Positions Relative to PFIX

Symbol	Grade	Weight
AAPL	C	8.57%
MSFT	D	4.98%
NVDA	B	4.97%
META	A	3.23%
ABBV	C	3.08%
KO	C	2.51%
ACN	B	1.97%
HD	A	1.79%
GOOGL	B	1.76%
INTU	F	1.57%
GOOG	B	1.55%
UNP	F	1.3%
LOW	C	1.29%
PM	D	1.29%
LRCX	D	1.01%
KLAC	B	0.96%
NKE	D	0.93%
MO	D	0.81%
ZTS	C	0.81%
CAT	A	0.78%
SBUX	B	0.73%
ITW	C	0.72%
VRT	B	0.7%
MMM	C	0.69%
AFL	A	0.64%
PSA	C	0.64%
EBAY	A	0.62%
D	A	0.6%
FIS	A	0.59%
SMG	C	0.59%
FAST	C	0.59%
PRU	B	0.58%
NXPI	F	0.56%
MPC	D	0.56%
MCHP	F	0.55%
MAA	D	0.55%
EQR	C	0.55%
NSA	D	0.54%
GEN	A	0.54%
IVZ	A	0.53%
WTW	C	0.53%
KTB	C	0.53%
OHI	C	0.53%
ORI	A	0.52%
VIRT	B	0.52%
CPT	C	0.52%
MRK	F	0.52%
EA	D	0.51%
NEP	D	0.51%
IPG	D	0.51%
JHG	A	0.51%
RDN	D	0.5%
OGE	C	0.5%
CMA	C	0.5%
WU	D	0.5%
STWD	C	0.5%
WSM	C	0.49%
UGI	C	0.49%
FAF	C	0.48%
DVN	F	0.48%
BPOP	D	0.47%
POOL	D	0.46%
WY	C	0.46%
TPR	B	0.46%
WDFC	B	0.44%
OMF	D	0.43%
WMS	D	0.43%
SCCO	B	0.42%
TT	A	0.41%
CUBE	C	0.4%
CTAS	C	0.38%
ALLY	F	0.36%
V	B	0.36%
RHI	D	0.35%
IRDM	C	0.35%
LNC	B	0.35%
APLE	B	0.34%
CFR	B	0.33%
OLN	D	0.29%
BR	B	0.29%
NNN	C	0.27%
WING	C	0.26%
MA	A	0.25%
NTAP	D	0.23%
COST	C	0.23%
HRB	C	0.18%
CL	D	0.17%
DPZ	D	0.17%
RMD	C	0.17%
PNW	C	0.16%
BSY	D	0.14%
PAYC	D	0.12%
WMT	A	0.12%
COR	F	0.12%
EXP	C	0.08%
WFRD	F	0.07%
BKNG	B	0.06%
CSWI	A	0.06%
MAR	A	0.04%
STNG	B	0.02%
BBWI	F	0.01%

QDF Underweight 81 Positions Relative to PFIX

Symbol	Grade	Weight
CVX	B	-2.06%
TM	D	-1.97%
NVS	D	-1.56%
CSCO	A	-1.48%
CMCSA	B	-1.29%
VZ	C	-1.26%
TXN	C	-1.13%
PLD	D	-0.91%
BLK	A	-0.87%
TD	B	-0.83%
ETN	B	-0.82%
UPS	D	-0.81%
C	B	-0.77%
MDLZ	D	-0.76%
CVS	D	-0.76%
MMC	D	-0.75%
SO	A	-0.55%
GD	C	-0.46%
USB	C	-0.45%
HMC	D	-0.45%
PSX	D	-0.45%
STLA	F	-0.43%
PNC	C	-0.43%
NSC	C	-0.42%
PCAR	D	-0.42%
TRV	B	-0.38%
APD	C	-0.37%
AIG	C	-0.34%
SRE	C	-0.33%
OKE	A	-0.31%
AEP	C	-0.31%
JCI	C	-0.29%
LHX	A	-0.29%
CMI	A	-0.28%
RSG	D	-0.28%
GIS	C	-0.28%
EXC	C	-0.27%
KR	C	-0.26%
E	C	-0.26%
XEL	C	-0.25%
FANG	D	-0.23%
HSY	D	-0.22%
DFS	A	-0.22%
ADM	F	-0.22%
VICI	C	-0.22%
BCS	B	-0.22%
WEC	B	-0.18%
TROW	D	-0.17%
DTE	B	-0.17%
STT	A	-0.16%
FITB	C	-0.16%
ES	D	-0.15%
MTB	A	-0.15%
GPC	D	-0.14%
DRI	C	-0.14%
AEE	A	-0.14%
ETR	A	-0.14%
HBAN	B	-0.13%
GRMN	D	-0.13%
OMC	C	-0.13%
HPE	B	-0.13%
CMS	A	-0.12%
RF	B	-0.12%
SYF	A	-0.12%
NTRS	B	-0.11%
VTRS	D	-0.11%
ATO	A	-0.11%
CINF	A	-0.11%
FNF	C	-0.1%
CCEP	C	-0.1%
PKG	B	-0.1%
BBY	C	-0.1%
IP	C	-0.09%
AMCR	C	-0.09%
EG	A	-0.09%
CAG	D	-0.09%
NI	A	-0.08%
LNT	B	-0.08%
MOS	F	-0.07%
CPB	D	-0.06%
FRO	B	-0.02%