QDF vs. SPHQ ETF Comparison

Comparison of FlexShares Quality Dividend Index Fund (QDF) to PowerShares S&P 500 High Quality Portfolio (SPHQ)

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

SPHQ

PowerShares S&P 500 High Quality Portfolio

SPHQ Description

The PowerShares S&P 500Â® High Quality Portfolio (Fund) is based on the S&P 500Â® High Quality Rankings Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to provide exposure to the constituents of the S&P 500 Index that are identified as stocks reflecting long-term growth and stability of a company's earnings and dividends. The Fund and the Index are rebalanced and reconstituted quarterly.

Grade (RS Rating)

Last Trade

$68.34

Average Daily Volume

861,359

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QDF	SPHQ
30 Days	1.66%	2.20%
60 Days	2.62%	1.70%
90 Days	4.00%	3.87%
12 Months	26.92%	32.58%

32 Overlapping Holdings

Symbol	Grade	Weight in QDF	Weight in SPHQ	Overlap
AAPL	C	8.54%	4.97%	4.97%
ADP	B	1.11%	2.01%	1.11%
AVGO	D	0.88%	5.28%	0.88%
BR	A	0.3%	0.27%	0.27%
CAT	B	0.75%	2.01%	0.75%
CHRW	C	0.55%	0.14%	0.14%
COR	B	0.14%	0.46%	0.14%
COST	B	0.24%	4.29%	0.24%
CTAS	B	0.39%	0.76%	0.39%
EA	A	0.58%	0.37%	0.37%
EBAY	D	0.58%	0.34%	0.34%
FAST	B	0.68%	0.59%	0.59%
INTU	C	1.74%	1.83%	1.74%
ITW	B	0.74%	1.16%	0.74%
JNJ	D	3.01%	4.84%	3.01%
KLAC	D	0.76%	1.05%	0.76%
LMT	D	0.62%	1.65%	0.62%
LRCX	F	0.87%	1.06%	0.87%
MA	C	0.26%	5.45%	0.26%
MCHP	D	0.45%	0.43%	0.43%
MPC	D	0.54%	0.58%	0.54%
MSFT	F	4.91%	4.5%	4.5%
NKE	D	0.83%	1.08%	0.83%
PAYC	B	0.16%	0.1%	0.1%
PAYX	C	0.63%	0.66%	0.63%
PG	A	3.03%	3.89%	3.03%
POOL	C	0.44%	0.19%	0.19%
QCOM	F	1.68%	2.2%	1.68%
SWKS	F	0.4%	0.14%	0.14%
V	A	0.4%	5.29%	0.4%
VLO	C	0.55%	0.44%	0.44%
ZTS	D	0.74%	0.74%	0.74%

QDF Overweight 95 Positions Relative to SPHQ

Symbol	Grade	Weight
NVDA	C	5.81%
META	D	3.1%
ABBV	D	2.58%
KO	D	2.16%
ACN	C	1.93%
GOOGL	C	1.84%
HD	A	1.77%
GOOG	C	1.63%
PM	B	1.41%
LOW	D	1.27%
UNP	C	1.24%
GILD	C	1.0%
MS	A	0.98%
MO	A	0.89%
VRT	B	0.83%
SBUX	A	0.76%
JPM	A	0.75%
BK	A	0.68%
MMM	D	0.65%
FIS	C	0.62%
AFL	B	0.62%
PEG	A	0.61%
PRU	A	0.61%
VIRT	B	0.6%
KTB	B	0.6%
JHG	A	0.6%
PSA	D	0.6%
D	C	0.59%
AVB	B	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%
ORI	A	0.55%
EQR	B	0.55%
MAA	B	0.55%
NXPI	D	0.52%
OMF	A	0.52%
OHI	C	0.52%
CPT	B	0.51%
IVZ	B	0.51%
OGE	B	0.51%
XOM	B	0.5%
SMG	D	0.5%
RDN	C	0.49%
STWD	C	0.49%
UGI	A	0.49%
NSA	D	0.49%
BPOP	B	0.48%
WDFC	B	0.47%
FAF	A	0.47%
DVN	F	0.46%
MRK	F	0.45%
IPG	D	0.45%
WU	D	0.45%
WSM	B	0.43%
TT	A	0.43%
CFR	B	0.42%
NUE	C	0.42%
EVRG	A	0.42%
WY	D	0.42%
HST	C	0.41%
LNC	B	0.39%
PFG	D	0.39%
RHI	B	0.38%
ALLY	C	0.37%
CUBE	D	0.37%
SCCO	F	0.36%
WMS	D	0.36%
APLE	B	0.35%
EIX	B	0.34%
IRDM	D	0.31%
NEP	F	0.3%
OLN	D	0.25%
NNN	D	0.23%
NTAP	C	0.22%
WING	D	0.2%
HRB	D	0.17%
RMD	C	0.17%
DPZ	C	0.17%
PNW	B	0.16%
CL	D	0.15%
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 67 Positions Relative to SPHQ

Symbol	Grade	Weight
NFLX	A	-4.24%
ADBE	C	-2.87%
CSCO	B	-2.61%
PEP	F	-2.26%
GE	D	-2.02%
AMAT	F	-1.68%
PGR	A	-1.63%
TJX	A	-1.54%
PANW	C	-1.24%
SHW	A	-1.01%
MDLZ	F	-0.9%
EMR	A	-0.88%
AMP	A	-0.86%
ADSK	A	-0.86%
MCO	B	-0.73%
IT	C	-0.64%
GWW	B	-0.59%
CMI	A	-0.57%
KMB	D	-0.52%
ROST	C	-0.47%
KVUE	A	-0.46%
VRSK	A	-0.45%
MLM	B	-0.44%
LEN	D	-0.42%
ACGL	D	-0.41%
ROK	B	-0.4%
IDXX	F	-0.4%
GEHC	F	-0.4%
MNST	C	-0.4%
LULU	C	-0.38%
SYY	B	-0.37%
A	D	-0.37%
CTSH	B	-0.37%
VMC	B	-0.37%
CNC	D	-0.36%
DD	D	-0.32%
NVR	D	-0.3%
DECK	A	-0.29%
BALL	D	-0.27%
KEYS	A	-0.26%
ADM	D	-0.26%
K	A	-0.26%
HSY	F	-0.26%
VLTO	D	-0.26%
TROW	B	-0.26%
CDW	F	-0.25%
CLX	B	-0.24%
BLDR	D	-0.24%
CINF	A	-0.23%
LH	C	-0.23%
EXPD	D	-0.21%
ULTA	F	-0.21%
LYB	F	-0.21%
OMC	C	-0.2%
STE	F	-0.2%
BAX	D	-0.19%
JBL	B	-0.19%
HOLX	D	-0.17%
EG	C	-0.16%
FFIV	B	-0.15%
JKHY	D	-0.13%
AOS	F	-0.11%
APA	D	-0.1%
MKTX	D	-0.1%
BWA	D	-0.1%
RL	B	-0.09%
SOLV	C	-0.09%