QLV vs. IWX ETF Comparison

Comparison of FlexShares US Quality Low Volatility Index Fund (QLV) to iShares Russell Top 200 Value ETF (IWX)

QLV

FlexShares US Quality Low Volatility Index Fund

QLV Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Developed Markets ex-US Quality Low Volatility IndexSM. The underlying index is designed to reflect the performance of a selection of companies that, in aggregate, possess lower overall absolute volatility characteristics relative to a broad universe of securities domiciled in developed market countries, excluding the U.S. The fund will invest at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. It is non-diversified.

Grade (RS Rating)

Last Trade

$65.85

Average Daily Volume

3,348

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

IWX

iShares Russell Top 200 Value ETF

IWX Description

The investment seeks to track the investment results of an index composed of large-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Top 200 Value Index (the "underlying index"), which is a style factor weighted index that measures the performance of the largest capitalization value sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$80.75

Average Daily Volume

163,731

Number of Holdings ^*

158

* may have additional holdings in another (foreign) market

Performance

Period	QLV	IWX
30 Days	0.62%	1.02%
60 Days	4.58%	6.13%
90 Days	4.95%	8.40%
12 Months	30.48%	28.44%

38 Overlapping Holdings

Symbol	Grade	Weight in QLV	Weight in IWX	Overlap
ABBV	B	1.1%	1.2%	1.1%
ABT	C	0.91%	1.19%	0.91%
ADI	C	0.17%	0.71%	0.17%
ADP	A	0.85%	0.05%	0.05%
AEP	C	0.56%	0.33%	0.33%
AMGN	D	0.79%	0.24%	0.24%
AZO	D	0.58%	0.03%	0.03%
BRK.A	C	0.58%	5.14%	0.58%
CB	B	0.73%	0.72%	0.72%
CME	A	0.9%	0.48%	0.48%
DUK	B	0.91%	0.55%	0.55%
EQIX	C	0.61%	0.49%	0.49%
GD	C	0.63%	0.5%	0.5%
GILD	A	1.01%	0.64%	0.64%
IBM	A	1.9%	1.24%	1.24%
JNJ	D	1.8%	2.39%	1.8%
JPM	D	0.19%	3.71%	0.19%
LIN	B	0.2%	1.42%	0.2%
LMT	A	1.15%	0.52%	0.52%
MCD	A	2.02%	1.26%	1.26%
MCK	F	0.27%	0.22%	0.22%
MMC	D	0.05%	0.59%	0.05%
NOC	B	0.63%	0.45%	0.45%
PEP	F	1.58%	0.3%	0.3%
PG	D	3.31%	1.95%	1.95%
PM	D	0.2%	1.15%	0.2%
PSA	C	0.9%	0.29%	0.29%
REGN	D	0.63%	0.61%	0.61%
ROP	C	0.13%	0.36%	0.13%
RSG	C	0.56%	0.25%	0.25%
SO	A	0.7%	0.61%	0.61%
T	A	1.43%	0.97%	0.97%
TMUS	A	0.98%	0.61%	0.61%
TRV	C	0.61%	0.33%	0.33%
TXN	C	0.89%	1.03%	0.89%
UNH	B	0.07%	3.06%	0.07%
VZ	B	1.74%	1.16%	1.16%
XOM	A	1.08%	3.19%	1.08%

QLV Overweight 76 Positions Relative to IWX

Symbol	Grade	Weight
MSFT	D	8.0%
AAPL	C	5.16%
NVDA	B	4.72%
LLY	D	2.8%
MRK	F	2.65%
AMZN	C	2.28%
V	C	2.0%
META	A	1.26%
ED	A	0.84%
GIS	C	0.83%
GOOGL	B	0.82%
WEC	A	0.82%
WTW	C	0.81%
RGLD	C	0.81%
ATR	A	0.81%
CHE	C	0.8%
CHKP	C	0.8%
DOX	B	0.78%
AIZ	B	0.78%
TYL	B	0.77%
K	A	0.77%
QLYS	F	0.76%
LSTR	F	0.74%
WDFC	D	0.74%
QGEN	F	0.72%
STNG	C	0.72%
SMMT	C	0.72%
AVY	D	0.71%
WM	B	0.63%
DLR	C	0.6%
ALL	C	0.6%
CTVA	A	0.59%
ZM	C	0.59%
XEL	B	0.58%
GOOG	B	0.57%
PKG	B	0.56%
WCN	D	0.56%
AEE	A	0.55%
CMS	A	0.55%
JKHY	A	0.54%
CINF	B	0.54%
SON	D	0.53%
TTEK	A	0.53%
DTM	A	0.52%
TSCO	B	0.52%
BAH	A	0.52%
SIGI	D	0.51%
WRB	C	0.51%
ADC	B	0.51%
PNW	B	0.51%
HSY	F	0.5%
FLO	D	0.5%
SCI	D	0.5%
MKL	C	0.5%
CALM	A	0.5%
CTRA	D	0.49%
HII	F	0.49%
CHRW	C	0.48%
HRL	F	0.42%
AVGO	C	0.42%
NBIX	F	0.41%
BMRN	F	0.39%
VRSK	C	0.37%
NFG	A	0.36%
CRUS	D	0.32%
SLGN	C	0.32%
DDS	D	0.28%
BMI	A	0.27%
SQSP	A	0.24%
EA	D	0.2%
ALKS	B	0.18%
CAG	D	0.16%
NCNO	D	0.1%
L	D	0.1%
CWAN	C	0.08%
EXPD	D	0.03%

QLV Underweight 120 Positions Relative to IWX

Symbol	Grade	Weight
WMT	A	-2.13%
BAC	D	-1.64%
CVX	B	-1.54%
TMO	D	-1.44%
ACN	B	-1.35%
CSCO	A	-1.32%
WFC	F	-1.2%
DHR	D	-1.09%
DIS	D	-1.08%
NEE	A	-1.07%
CAT	A	-1.01%
PFE	D	-1.01%
SPGI	B	-0.99%
CMCSA	C	-0.98%
RTX	A	-0.98%
GE	C	-0.97%
LOW	A	-0.94%
BLK	A	-0.86%
ETN	C	-0.81%
BSX	A	-0.75%
COP	D	-0.75%
MU	D	-0.73%
C	C	-0.73%
KO	C	-0.73%
GS	D	-0.71%
PLD	D	-0.71%
MS	B	-0.7%
HON	C	-0.7%
MDT	C	-0.7%
DE	B	-0.65%
INTC	D	-0.63%
ELV	F	-0.63%
BMY	B	-0.63%
MDLZ	D	-0.61%
UPS	D	-0.6%
AXP	B	-0.58%
SYK	C	-0.56%
AMD	B	-0.55%
ICE	A	-0.55%
MO	D	-0.54%
CI	D	-0.54%
SCHW	D	-0.53%
PH	B	-0.5%
PYPL	C	-0.49%
HD	A	-0.49%
CVS	C	-0.48%
UNP	D	-0.48%
BA	F	-0.47%
WELL	C	-0.47%
PNC	C	-0.45%
FCX	B	-0.45%
USB	D	-0.44%
TGT	D	-0.44%
FI	A	-0.43%
BDX	C	-0.43%
EOG	B	-0.43%
CEG	A	-0.42%
GEV	A	-0.42%
AON	B	-0.42%
APD	C	-0.41%
CSX	D	-0.41%
CARR	B	-0.41%
KKR	C	-0.39%
CRH	C	-0.39%
MMM	C	-0.38%
NEM	C	-0.38%
EMR	B	-0.38%
VRTX	D	-0.37%
SLB	D	-0.37%
FDX	F	-0.37%
TDG	B	-0.37%
MAR	B	-0.36%
COF	C	-0.35%
TFC	D	-0.35%
TT	A	-0.35%
HCA	C	-0.35%
MPC	C	-0.35%
PSX	D	-0.34%
NSC	D	-0.34%
MRVL	B	-0.34%
TJX	D	-0.33%
JCI	C	-0.32%
GM	D	-0.32%
SRE	B	-0.32%
PCAR	C	-0.31%
MET	B	-0.3%
ITW	B	-0.3%
AIG	F	-0.29%
D	A	-0.29%
VLO	D	-0.27%
F	D	-0.26%
NKE	D	-0.25%
STZ	D	-0.25%
MSI	A	-0.24%
CRM	B	-0.24%
KDP	C	-0.24%
CL	D	-0.23%
OXY	D	-0.21%
APH	D	-0.2%
EW	F	-0.2%
KHC	F	-0.19%
DELL	C	-0.17%
KMB	D	-0.17%
SBUX	C	-0.15%
PGR	C	-0.14%
MRNA	F	-0.13%
ZTS	C	-0.1%
APO	B	-0.1%
AMAT	B	-0.09%
EL	D	-0.09%
QCOM	C	-0.07%
FTNT	B	-0.06%
MNST	D	-0.05%
SHW	C	-0.05%
ECL	B	-0.05%
BKNG	C	-0.05%
DASH	B	-0.04%
ORLY	A	-0.03%
CPRT	C	-0.02%
CTAS	C	-0.02%