QLV vs. MDYV ETF Comparison

Comparison of FlexShares US Quality Low Volatility Index Fund (QLV) to SPDR S&P 400 Mid Cap Value ETF (based on S&P MidCap 400 Value Index (MDYV)

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

$66.41

Average Daily Volume

3,582

Number of Holdings ^*

114

* may have additional holdings in another (foreign) market

MDYV

SPDR S&P 400 Mid Cap Value ETF (based on S&P MidCap 400 Value Index

MDYV Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of medium capitalization exchange traded U.S. equity securities exhibiting "value" characteristics. The fund employs a replication strategy in seeking to track the performance of the S&P MidCap 400 Value Index. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index measures the performance of the mid-capitalization value sector in the U.S. equity market. It is non-diversified.

Grade (RS Rating)

Last Trade

$79.86

Average Daily Volume

110,962

Number of Holdings ^*

284

* may have additional holdings in another (foreign) market

Performance

Period	QLV	MDYV
30 Days	2.04%	4.24%
60 Days	5.15%	5.30%
90 Days	6.23%	9.82%
12 Months	26.75%	22.47%

14 Overlapping Holdings

Symbol	Grade	Weight in QLV	Weight in MDYV	Overlap
ADC	C	0.54%	0.58%	0.54%
ATR	B	0.8%	0.31%	0.31%
BMRN	F	0.48%	0.54%	0.48%
CHE	C	0.78%	0.26%	0.26%
CRUS	D	0.36%	0.23%	0.23%
DTM	B	0.5%	0.2%	0.2%
FLO	C	0.51%	0.34%	0.34%
LSTR	D	0.74%	0.16%	0.16%
NFG	B	0.37%	0.41%	0.37%
RGLD	C	0.77%	0.33%	0.33%
SCI	B	0.51%	0.43%	0.43%
SIGI	D	0.51%	0.18%	0.18%
SLGN	B	0.32%	0.31%	0.31%
SON	C	0.54%	0.41%	0.41%

QLV Overweight 100 Positions Relative to MDYV

Symbol	Grade	Weight
MSFT	C	7.68%
AAPL	C	5.11%
NVDA	D	4.13%
PG	C	3.43%
LLY	C	2.85%
MRK	D	2.76%
V	C	2.15%
AMZN	C	2.13%
MCD	B	1.97%
JNJ	C	1.9%
IBM	B	1.77%
VZ	B	1.7%
PEP	C	1.69%
T	C	1.45%
LMT	C	1.17%
ABBV	C	1.15%
META	B	1.14%
XOM	C	1.13%
GILD	B	0.98%
TMUS	C	0.96%
DUK	C	0.95%
ABT	C	0.95%
CME	C	0.92%
PSA	B	0.91%
ADP	B	0.87%
ED	C	0.87%
TXN	C	0.87%
GIS	B	0.86%
WEC	C	0.84%
WTW	C	0.83%
AMGN	B	0.82%
TYL	C	0.8%
K	B	0.79%
CHKP	B	0.79%
DOX	C	0.77%
AIZ	B	0.77%
CB	B	0.76%
GOOGL	D	0.76%
WDFC	C	0.76%
QGEN	C	0.75%
QLYS	F	0.74%
AVY	C	0.72%
SO	B	0.72%
REGN	C	0.71%
STNG	D	0.71%
WM	D	0.66%
NOC	B	0.65%
TRV	C	0.64%
GD	B	0.64%
SMMT	C	0.62%
ALL	B	0.61%
AEP	C	0.59%
XEL	B	0.59%
EQIX	C	0.59%
WCN	D	0.59%
BRK.A	C	0.59%
AZO	D	0.58%
RSG	D	0.58%
ZM	C	0.58%
CTVA	B	0.57%
CINF	B	0.56%
DLR	B	0.56%
WRB	C	0.55%
AEE	C	0.55%
CMS	C	0.55%
HSY	C	0.54%
JKHY	B	0.54%
PKG	B	0.54%
PNW	C	0.53%
TTEK	C	0.53%
GOOG	D	0.53%
BAH	C	0.51%
HII	D	0.51%
MKL	C	0.5%
TSCO	C	0.5%
CTRA	D	0.49%
CALM	A	0.48%
CHRW	B	0.46%
HRL	C	0.44%
NBIX	F	0.43%
VRSK	D	0.39%
AVGO	C	0.34%
MCK	F	0.3%
DDS	F	0.25%
BMI	A	0.25%
SQSP	A	0.24%
EA	D	0.21%
PM	C	0.21%
JPM	D	0.2%
ALKS	C	0.19%
LIN	B	0.19%
CAG	C	0.16%
ADI	C	0.16%
ROP	C	0.14%
L	C	0.11%
NCNO	D	0.1%
UNH	C	0.07%
CWAN	B	0.07%
MMC	C	0.06%
EXPD	C	0.03%

QLV Underweight 270 Positions Relative to MDYV

Symbol	Grade	Weight
ILMN	C	-1.52%
THC	A	-1.17%
FNF	B	-1.16%
RGA	C	-1.06%
WPC	C	-1.03%
USFD	B	-1.02%
JLL	B	-0.91%
PFGC	B	-0.86%
BJ	D	-0.81%
AVTR	B	-0.79%
ARMK	B	-0.76%
COHR	C	-0.76%
RRX	C	-0.75%
UNM	B	-0.74%
JEF	B	-0.74%
GPK	B	-0.69%
ALLY	F	-0.68%
SF	A	-0.66%
AFG	B	-0.66%
ORI	B	-0.66%
SNX	D	-0.65%
KNX	C	-0.64%
FHN	D	-0.64%
UTHR	C	-0.63%
FYBR	C	-0.61%
OGE	C	-0.61%
CHK	D	-0.61%
GLPI	C	-0.61%
GMED	D	-0.6%
AR	F	-0.59%
X	F	-0.59%
FLR	D	-0.58%
AA	D	-0.58%
WBS	D	-0.57%
BERY	B	-0.57%
LAD	D	-0.56%
BURL	B	-0.54%
RPM	B	-0.54%
ACM	B	-0.54%
SSB	B	-0.53%
PB	B	-0.52%
TMHC	A	-0.52%
WTFC	B	-0.51%
MTZ	B	-0.51%
WCC	D	-0.51%
FAF	B	-0.51%
ARW	C	-0.5%
REXR	C	-0.5%
ZION	D	-0.5%
XPO	D	-0.5%
ESNT	B	-0.5%
CACI	B	-0.5%
DINO	F	-0.5%
G	C	-0.49%
OSK	F	-0.49%
NOV	F	-0.48%
STWD	B	-0.48%
SNV	C	-0.48%
SFM	B	-0.46%
RNR	C	-0.46%
LEA	F	-0.45%
OHI	B	-0.45%
R	A	-0.45%
SRCL	A	-0.44%
POST	C	-0.44%
DKS	D	-0.44%
KRG	B	-0.44%
CADE	C	-0.43%
EQH	C	-0.43%
INGR	B	-0.43%
CMC	D	-0.43%
VNO	B	-0.43%
ONB	C	-0.43%
CCK	A	-0.43%
DAR	F	-0.42%
VMI	D	-0.42%
GME	F	-0.42%
NNN	C	-0.42%
AGCO	D	-0.42%
CLF	F	-0.41%
CUBE	B	-0.41%
IBKR	B	-0.41%
MDU	C	-0.4%
AMH	C	-0.4%
THG	B	-0.4%
KD	D	-0.4%
XRAY	D	-0.4%
ERIE	B	-0.4%
PVH	F	-0.4%
AMG	C	-0.4%
ELS	C	-0.39%
WHR	D	-0.39%
EHC	C	-0.39%
ST	D	-0.39%
THO	D	-0.39%
UGI	C	-0.38%
FNB	C	-0.38%
NXST	D	-0.38%
EWBC	D	-0.38%
WTRG	D	-0.38%
TPL	B	-0.37%
POR	C	-0.37%
UBSI	B	-0.37%
COLB	B	-0.37%
HOMB	B	-0.37%
LAMR	B	-0.36%
GBCI	B	-0.36%
NJR	B	-0.35%
JHG	B	-0.35%
BRX	B	-0.35%
CIEN	C	-0.35%
IRT	B	-0.35%
KBR	D	-0.34%
UMBF	B	-0.34%
GAP	F	-0.34%
VOYA	B	-0.34%
TTC	D	-0.34%
SAIC	C	-0.34%
AVT	C	-0.34%
ASH	D	-0.33%
CG	D	-0.33%
HOG	C	-0.33%
CUZ	B	-0.33%
AVNT	B	-0.32%
PII	D	-0.32%
CBSH	C	-0.32%
SBRA	C	-0.32%
SWX	C	-0.32%
MTG	B	-0.31%
WU	F	-0.31%
CW	B	-0.31%
M	F	-0.31%
BKH	B	-0.31%
ASGN	D	-0.31%
PNFP	B	-0.31%
BDC	B	-0.31%
CFR	C	-0.3%
AN	D	-0.3%
KEX	C	-0.3%
ORA	C	-0.3%
OGS	B	-0.3%
AYI	B	-0.29%
FR	B	-0.29%
TKO	B	-0.29%
JAZZ	D	-0.29%
LITE	B	-0.28%
ALE	B	-0.28%
CGNX	F	-0.28%
PRGO	D	-0.28%
PNM	B	-0.28%
SR	B	-0.28%
KRC	B	-0.28%
CNO	B	-0.27%
PCH	C	-0.27%
MAT	C	-0.27%
STAG	C	-0.27%
BRBR	C	-0.27%
KMPR	D	-0.27%
DCI	C	-0.27%
NWE	B	-0.26%
CYTK	F	-0.26%
MIDD	D	-0.26%
VLY	C	-0.26%
MKSI	F	-0.26%
HQY	C	-0.25%
SEIC	C	-0.25%
MAN	C	-0.25%
FLS	D	-0.25%
PBF	F	-0.25%
EGP	B	-0.25%
TCBI	B	-0.24%
IDA	C	-0.24%
NVST	D	-0.24%
KBH	A	-0.23%
ASB	D	-0.23%
NEOG	D	-0.23%
GATX	D	-0.23%
AMKR	F	-0.23%
CNXC	F	-0.23%
TKR	D	-0.23%
PAG	D	-0.22%
CNM	F	-0.22%
OLN	D	-0.22%
ALV	F	-0.21%
FHI	A	-0.21%
SLM	D	-0.21%
FFIN	B	-0.21%
MUR	F	-0.21%
RCM	C	-0.21%
CACC	F	-0.21%
HXL	F	-0.2%
EXPO	A	-0.2%
BHF	F	-0.2%
GHC	B	-0.2%
RYN	C	-0.2%
OPCH	C	-0.19%
EXLS	B	-0.19%
BRKR	D	-0.19%
NOVT	D	-0.19%
CC	F	-0.19%
CVLT	B	-0.19%
CRI	D	-0.19%
EVR	A	-0.19%
VAC	F	-0.18%
DOCS	B	-0.18%
SRPT	D	-0.18%
TGNA	D	-0.18%
CPRI	D	-0.18%
GNTX	F	-0.18%
JWN	C	-0.17%
ZD	D	-0.17%
VSH	F	-0.17%
ENS	D	-0.17%
MTN	D	-0.17%
AM	C	-0.16%
RLI	B	-0.16%
LPX	B	-0.16%
WH	B	-0.16%
ENOV	D	-0.16%
RH	B	-0.16%
GT	F	-0.16%
GXO	D	-0.16%
EEFT	D	-0.15%
ZI	D	-0.15%
BC	C	-0.15%
HWC	D	-0.15%
OZK	D	-0.15%
MTSI	D	-0.15%
LFUS	C	-0.14%
IBOC	D	-0.14%
AMED	C	-0.14%
CBT	B	-0.14%
LANC	D	-0.14%
MASI	F	-0.14%
SYNA	F	-0.13%
PPC	D	-0.13%
LIVN	D	-0.13%
NSA	B	-0.13%
SMG	C	-0.13%
CHX	F	-0.13%
ADNT	F	-0.13%
DLB	D	-0.13%
GEF	D	-0.12%
NSP	F	-0.12%
IRDM	D	-0.12%
MSM	D	-0.12%
POWI	F	-0.12%
MMS	C	-0.11%
COLM	C	-0.11%
HAE	F	-0.11%
CHH	C	-0.11%
TEX	F	-0.11%
BLKB	C	-0.1%
WEN	C	-0.1%
UA	D	-0.1%
HELE	D	-0.1%
ALGM	F	-0.1%
SAM	F	-0.1%
KNF	B	-0.1%
VC	F	-0.1%
EPR	B	-0.1%
UAA	C	-0.1%
YETI	D	-0.09%
IPGP	F	-0.08%
MP	D	-0.08%
TNL	D	-0.07%
AZTA	F	-0.07%
WMG	D	-0.07%
HGV	F	-0.07%
WOLF	F	-0.04%