SMMV vs. QDEF ETF Comparison

Comparison of iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

SMMV

iShares MSCI USA Small-Cap Min Vol Factor ETF

SMMV Description

iShares Edge MSCI Min Vol USA Small-Cap ETF seeks to track the investment results of an index composed of small-capitalization U.S. equities that, in the aggregate, have lower volatility characteristics relative to the small-capitalization U.S. equity market.

Grade (RS Rating)

Last Trade

$43.84

Average Daily Volume

37,673

Number of Holdings ^*

289

* may have additional holdings in another (foreign) market

QDEF

FlexShares Quality Dividend Defensive Index Fund

QDEF 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 Defensive 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 that is lower than that of the Northern Trust 1250 IndexSM. It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$72.63

Average Daily Volume

6,797

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	SMMV	QDEF
30 Days	5.88%	0.50%
60 Days	7.08%	2.57%
90 Days	8.51%	4.32%
12 Months	28.57%	30.06%

13 Overlapping Holdings

Symbol	Grade	Weight in SMMV	Weight in QDEF	Overlap
BWXT	B	0.78%	0.64%	0.64%
CHE	D	1.32%	0.39%	0.39%
CSWI	B	0.45%	0.57%	0.45%
HRB	D	0.47%	0.45%	0.45%
LSTR	D	0.81%	0.49%	0.49%
MSM	C	0.57%	0.37%	0.37%
OGE	A	1.16%	0.47%	0.47%
OHI	C	0.6%	0.53%	0.53%
ORI	A	1.57%	0.54%	0.54%
PNW	A	0.91%	0.52%	0.52%
SAIC	F	0.25%	0.41%	0.25%
UNM	A	1.16%	0.65%	0.65%
VIRT	A	0.5%	0.57%	0.5%

SMMV Overweight 276 Positions Relative to QDEF

Symbol	Grade	Weight
EXEL	B	1.73%
MUSA	B	1.6%
ATR	B	1.49%
ADC	A	1.45%
RGLD	C	1.39%
AXS	A	1.32%
RLI	A	1.25%
HQY	A	1.23%
SIGI	C	1.14%
DTM	A	1.14%
CVLT	B	1.12%
IDA	A	1.12%
RGA	A	1.11%
THG	A	1.11%
EHC	B	1.08%
SFM	A	1.07%
ENSG	C	1.06%
WTM	A	0.93%
RNR	C	0.93%
GNTX	C	0.9%
PSN	D	0.87%
FLO	D	0.82%
CACI	D	0.81%
DLB	B	0.81%
CASY	A	0.79%
POST	C	0.77%
PBH	A	0.77%
TXNM	A	0.75%
NEU	D	0.75%
BJ	A	0.73%
CALM	A	0.72%
INGR	C	0.72%
ALKS	C	0.71%
CW	C	0.71%
LRN	A	0.7%
LOPE	C	0.69%
RYAN	A	0.69%
PAGP	A	0.68%
TKO	A	0.66%
CCOI	B	0.66%
CTRE	C	0.65%
MSGS	A	0.64%
NWE	B	0.64%
BRC	D	0.63%
TXRH	B	0.62%
FCN	F	0.61%
WEN	D	0.6%
VNOM	A	0.59%
MDU	D	0.59%
CCCS	B	0.59%
INSM	C	0.58%
GHC	B	0.58%
AMED	F	0.56%
IBKR	A	0.54%
HESM	B	0.54%
PINC	B	0.51%
PRGS	A	0.51%
TGNA	B	0.5%
POR	C	0.49%
FCFS	F	0.49%
CWAN	B	0.48%
DRS	B	0.47%
LAUR	A	0.47%
JJSF	C	0.47%
PCVX	D	0.47%
ECG	C	0.46%
ESGR	B	0.46%
MGEE	B	0.46%
IONS	F	0.45%
WERN	C	0.45%
MSA	F	0.44%
SON	F	0.43%
HURN	C	0.42%
JAZZ	B	0.42%
KNTK	A	0.42%
KBR	F	0.42%
NYT	D	0.4%
EQC	B	0.4%
HLI	A	0.38%
MCY	A	0.38%
ADUS	D	0.37%
AM	A	0.36%
CWST	A	0.35%
PRDO	B	0.35%
XENE	D	0.34%
BATRK	D	0.34%
AVT	C	0.34%
REYN	D	0.33%
AGX	B	0.33%
UNF	B	0.33%
MGRC	B	0.33%
NHC	C	0.33%
AVPT	A	0.33%
HMN	B	0.33%
SNDR	B	0.32%
VRRM	F	0.32%
BHE	C	0.32%
SKWD	A	0.32%
LANC	C	0.32%
INSW	F	0.31%
SMPL	B	0.31%
IDCC	B	0.31%
SNX	D	0.31%
DCI	B	0.31%
CORT	B	0.3%
USLM	A	0.3%
GO	C	0.3%
NSIT	F	0.3%
GPOR	B	0.3%
PDCO	F	0.3%
DVAX	C	0.29%
WT	A	0.28%
DBX	B	0.28%
MIRM	B	0.28%
HWKN	B	0.28%
CRNX	C	0.27%
VVV	D	0.27%
EIG	B	0.26%
ALE	A	0.26%
CRAI	C	0.25%
YELP	C	0.25%
OSW	B	0.25%
SCI	B	0.25%
IDYA	F	0.24%
NJR	A	0.24%
OLLI	D	0.24%
PPC	C	0.24%
SAFT	B	0.24%
MMS	F	0.23%
ASH	F	0.23%
WABC	B	0.22%
INVA	D	0.21%
ADMA	B	0.21%
AMSF	B	0.21%
NTST	C	0.2%
PJT	A	0.2%
AVA	A	0.2%
OPCH	D	0.19%
AWR	B	0.19%
IMKTA	C	0.19%
CHH	A	0.19%
EDR	A	0.19%
SWX	B	0.18%
BFC	B	0.18%
RARE	F	0.18%
NTCT	C	0.18%
ATEN	A	0.18%
COLL	F	0.18%
KRP	B	0.18%
CNX	A	0.17%
SPNT	B	0.17%
ARCH	B	0.16%
CNXN	C	0.16%
HCC	B	0.16%
KNSA	F	0.16%
CXW	C	0.16%
WMK	C	0.16%
CWT	C	0.16%
PRGO	C	0.15%
CIEN	C	0.15%
ICFI	F	0.15%
IRON	B	0.15%
IDT	B	0.15%
DJCO	B	0.14%
VVX	C	0.14%
SLGN	A	0.14%
JBSS	F	0.14%
BLKB	B	0.14%
HCKT	B	0.14%
OGS	A	0.14%
HSTM	B	0.14%
ATGE	B	0.14%
GTX	C	0.13%
RGR	F	0.13%
REX	D	0.13%
LBTYK	A	0.13%
KRYS	C	0.13%
ZYME	C	0.13%
LMAT	A	0.12%
UVE	B	0.12%
HALO	F	0.12%
SPTN	D	0.12%
SMP	C	0.12%
GPK	C	0.11%
PLXS	B	0.11%
VREX	B	0.11%
LQDT	B	0.11%
USM	B	0.11%
LTC	B	0.11%
ACLX	C	0.11%
NTNX	B	0.11%
SHEN	F	0.11%
CHCO	B	0.11%
SNRE	D	0.1%
MCS	B	0.1%
AGIO	C	0.1%
ALRM	C	0.1%
DHIL	B	0.1%
ACEL	C	0.1%
EBF	F	0.1%
NABL	F	0.1%
UFCS	A	0.1%
TIPT	C	0.09%
CRVL	B	0.09%
GWRE	A	0.09%
GEO	B	0.09%
HCI	C	0.09%
EPAC	C	0.09%
YORW	F	0.09%
SPRY	C	0.09%
IRWD	F	0.09%
FC	F	0.08%
DORM	B	0.08%
EWTX	C	0.08%
ANIP	F	0.08%
NPK	B	0.08%
TARS	C	0.08%
ITCI	C	0.08%
VITL	D	0.08%
BBSI	B	0.08%
KELYA	F	0.08%
MATX	C	0.08%
STRA	C	0.08%
NTGR	B	0.08%
FRPH	B	0.08%
CEIX	A	0.08%
IMAX	B	0.07%
SR	A	0.07%
BOX	B	0.07%
CNSL	C	0.07%
SENEA	A	0.07%
TBPH	B	0.07%
LQDA	F	0.07%
ATEX	F	0.07%
THS	D	0.07%
OSIS	A	0.07%
WINA	C	0.07%
CPK	A	0.07%
NRC	F	0.06%
PBF	D	0.06%
IMXI	B	0.06%
COKE	C	0.06%
CART	C	0.06%
CLW	F	0.06%
HG	C	0.06%
RAMP	B	0.06%
UTI	B	0.06%
CCRN	F	0.06%
ACT	C	0.06%
ACHC	F	0.06%
IRMD	C	0.05%
ADEA	C	0.05%
IMNM	F	0.05%
SCHL	F	0.05%
METC	C	0.05%
ACAD	C	0.05%
UTZ	D	0.05%
AESI	B	0.05%
KROS	D	0.05%
CGON	F	0.05%
USPH	B	0.05%
SEB	F	0.05%
RMR	F	0.05%
BATRA	F	0.05%
BTU	B	0.05%
GNK	D	0.04%
SWBI	C	0.04%
DAWN	D	0.04%
DK	C	0.04%
TH	C	0.04%
CGEM	F	0.03%
MITK	C	0.03%
ROG	D	0.03%
ANAB	F	0.03%
CRGX	F	0.03%
ITOS	F	0.02%

SMMV Underweight 110 Positions Relative to QDEF

Symbol	Grade	Weight
AAPL	C	-6.07%
NVDA	B	-6.0%
MSFT	D	-4.97%
HD	B	-3.07%
JNJ	C	-2.93%
PG	C	-2.83%
META	D	-2.76%
ABBV	F	-2.6%
MRK	D	-2.25%
IBM	C	-1.7%
QCOM	F	-1.65%
PM	B	-1.65%
GOOGL	C	-1.36%
INTU	B	-1.29%
TMUS	B	-1.14%
ADP	A	-1.13%
GOOG	C	-1.1%
LMT	D	-1.05%
GILD	C	-1.03%
TJX	A	-0.99%
SBUX	A	-0.98%
AVGO	D	-0.88%
MO	A	-0.86%
CI	D	-0.83%
AMT	C	-0.82%
KLAC	F	-0.79%
T	A	-0.77%
DUK	C	-0.77%
ITW	B	-0.74%
MSI	B	-0.74%
JPM	A	-0.73%
CME	B	-0.71%
MCK	A	-0.71%
BK	A	-0.67%
MMM	D	-0.66%
VZ	C	-0.65%
KO	D	-0.65%
EME	A	-0.64%
PAYX	B	-0.63%
UMBF	B	-0.61%
CSCO	B	-0.61%
FIS	C	-0.6%
EA	A	-0.6%
AFL	B	-0.6%
CFR	B	-0.6%
GEN	B	-0.59%
PSA	C	-0.59%
AIZ	A	-0.58%
WTW	B	-0.58%
FAST	B	-0.58%
COR	B	-0.57%
LDOS	C	-0.57%
VRSK	A	-0.57%
D	C	-0.56%
WDFC	B	-0.55%
PPL	A	-0.55%
ESS	B	-0.54%
RMD	C	-0.54%
K	A	-0.53%
CSL	C	-0.53%
MET	A	-0.53%
EQR	C	-0.53%
MAA	B	-0.53%
IRDM	D	-0.52%
CPT	B	-0.51%
OTIS	C	-0.51%
KMB	C	-0.51%
XOM	B	-0.5%
OMF	A	-0.5%
ED	C	-0.49%
AVY	F	-0.48%
DOX	D	-0.48%
BPOP	C	-0.48%
RDN	D	-0.48%
LOW	C	-0.47%
NSA	C	-0.47%
IPG	D	-0.46%
DELL	B	-0.46%
BMY	B	-0.45%
GIS	D	-0.45%
VRT	B	-0.45%
WU	F	-0.43%
EXPD	C	-0.42%
WSM	C	-0.41%
DPZ	C	-0.41%
CUBE	C	-0.4%
EVRG	A	-0.4%
EBAY	D	-0.4%
EXC	C	-0.39%
SWKS	F	-0.39%
V	A	-0.38%
BSY	F	-0.37%
STNG	F	-0.36%
STWD	C	-0.32%
NEP	F	-0.32%
WEC	A	-0.28%
PEG	A	-0.26%
COST	A	-0.24%
MA	B	-0.23%
MAS	D	-0.23%
NNN	C	-0.21%
AVB	B	-0.18%
CAH	B	-0.17%
SCCO	F	-0.16%
BAH	F	-0.12%
DDS	B	-0.12%
WMT	A	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%
BAC	A	-0.02%