QLVE vs. AAXJ ETF Comparison

Comparison of FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) to iShares MSCI All Country Asia ex Japan Index Fund (AAXJ)

QLVE

FlexShares Emerging Markets Quality Low Volatility Index Fund

QLVE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Emerging Markets 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 emerging market countries. Under normal circumstances, 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

$25.66

Average Daily Volume

1,225

Number of Holdings ^*

* may have additional holdings in another (foreign) market

AAXJ

iShares MSCI All Country Asia ex Japan Index Fund

AAXJ Description

The investment seeks to replicate the returns of the MSCI All Country Asia ex Japan Index. The fund generally invests at least 90% of its assets in securities of the underlying index and in DRs representing securities of the underlying index. The underlying index is a free float-adjusted market capitalization index designed to measure equity market performance of the following 10 developed and emerging market countries or regions: China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand. Components primarily include consumer discretionary, financial, industrials and information technology companies.

Grade (RS Rating)

Last Trade

$74.00

Average Daily Volume

607,485

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QLVE	AAXJ
30 Days	-4.07%	-4.42%
60 Days	-3.07%	-0.92%
90 Days	-1.52%	0.48%
12 Months	14.89%	14.85%

7 Overlapping Holdings

Symbol	Grade	Weight in QLVE	Weight in AAXJ	Overlap
BABA	D	2.53%	2.51%	2.51%
BIDU	F	0.04%	0.35%	0.04%
CHT	D	0.94%	0.2%	0.2%
HDB	C	0.45%	1.26%	0.45%
IBN	C	0.68%	1.15%	0.68%
TCOM	B	0.02%	0.49%	0.02%
UMC	F	0.16%	0.23%	0.16%

QLVE Overweight 6 Positions Relative to AAXJ

Symbol	Grade	Weight
BAP	B	1.02%
SKM	D	0.77%
PDD	F	0.71%
KT	A	0.52%
NTES	D	0.45%
VALE	F	0.17%

QLVE Underweight 9 Positions Relative to AAXJ

Symbol	Grade	Weight
YUMC	C	-0.27%
LI	F	-0.21%
BGNE	D	-0.15%
WIT	A	-0.13%
TME	D	-0.12%
XPEV	C	-0.11%
NIO	F	-0.09%
BILI	D	-0.06%
MNSO	F	-0.02%