VOE vs. QDF ETF Comparison

Comparison of Vanguard Mid-Cap Value ETF - DNQ (VOE) to FlexShares Quality Dividend Index Fund (QDF)

VOE

Vanguard Mid-Cap Value ETF - DNQ

VOE Description

The investment seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization value stocks. The fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Value Index, a broadly diversified index of value stocks of mid-size U.S. companies. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$174.14

Average Daily Volume

260,328

Number of Holdings ^*

183

* may have additional holdings in another (foreign) market

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

Performance

Period	VOE	QDF
30 Days	3.57%	1.66%
60 Days	4.57%	2.62%
90 Days	7.52%	4.00%
12 Months	31.70%	26.92%

21 Overlapping Holdings

Symbol	Grade	Weight in VOE	Weight in QDF	Overlap
AVB	B	0.7%	0.58%	0.58%
COR	B	0.9%	0.14%	0.14%
D	C	0.4%	0.59%	0.4%
EA	A	0.89%	0.58%	0.58%
EBAY	D	0.63%	0.58%	0.58%
EIX	B	0.7%	0.34%	0.34%
EQR	B	0.56%	0.55%	0.55%
EVRG	A	0.15%	0.42%	0.15%
FIS	C	1.09%	0.62%	0.62%
GEN	B	0.34%	0.58%	0.34%
MAA	B	0.39%	0.55%	0.39%
MCHP	D	0.44%	0.45%	0.44%
NTAP	C	0.53%	0.22%	0.22%
NUE	C	0.75%	0.42%	0.42%
PEG	A	0.99%	0.61%	0.61%
PFG	D	0.42%	0.39%	0.39%
PRU	A	0.97%	0.61%	0.61%
SNA	A	0.39%	0.56%	0.39%
SWKS	F	0.31%	0.4%	0.31%
WTW	B	0.68%	0.56%	0.56%
WY	D	0.5%	0.42%	0.42%

VOE Overweight 162 Positions Relative to QDF

Symbol	Grade	Weight
CARR	D	1.39%
AJG	B	1.37%
DLR	B	1.3%
OKE	A	1.26%
PCAR	B	1.22%
URI	B	1.2%
NEM	D	1.17%
AMP	A	1.11%
ALL	A	1.1%
DHI	D	1.1%
LHX	C	1.04%
CMI	A	1.0%
KVUE	A	0.98%
PCG	A	0.94%
CTVA	C	0.93%
LNG	B	0.92%
LEN	D	0.89%
CBRE	B	0.89%
OTIS	C	0.88%
EXC	C	0.87%
BKR	B	0.84%
GIS	D	0.84%
GEHC	F	0.84%
XEL	A	0.83%
DFS	B	0.83%
GLW	B	0.82%
SYY	B	0.82%
DAL	C	0.82%
CTSH	B	0.82%
KR	B	0.81%
IRM	D	0.81%
ED	D	0.78%
ACGL	D	0.78%
DOW	F	0.77%
HPQ	B	0.77%
NDAQ	A	0.76%
ETR	B	0.74%
VICI	C	0.74%
CNC	D	0.73%
WAB	B	0.73%
HIG	B	0.72%
MTB	A	0.72%
WMB	A	0.71%
DD	D	0.69%
GRMN	B	0.68%
WEC	A	0.67%
FITB	A	0.66%
PPG	F	0.65%
RJF	A	0.61%
PHM	D	0.6%
AWK	D	0.6%
VTR	C	0.6%
STT	A	0.59%
GPN	B	0.59%
ADM	D	0.59%
CAH	B	0.59%
KEYS	A	0.58%
DOV	A	0.58%
SPG	B	0.58%
IFF	D	0.57%
UAL	A	0.57%
FTV	C	0.56%
CDW	F	0.56%
JCI	C	0.56%
BIIB	F	0.56%
HPE	B	0.56%
AIG	B	0.54%
TROW	B	0.54%
AEE	A	0.52%
ES	D	0.52%
PPL	B	0.51%
FE	C	0.51%
KMI	A	0.51%
CBOE	B	0.5%
WDC	D	0.5%
LYB	F	0.5%
HBAN	A	0.5%
RF	A	0.49%
DTE	C	0.49%
CINF	A	0.49%
K	A	0.49%
ZBH	C	0.48%
SYF	B	0.48%
PKG	A	0.46%
GEV	B	0.46%
CMS	C	0.46%
CLX	B	0.44%
ZBRA	B	0.44%
MKC	D	0.44%
OMC	C	0.44%
LH	C	0.43%
CNP	B	0.43%
NTRS	A	0.43%
IP	B	0.43%
IR	B	0.43%
ARE	D	0.43%
HOLX	D	0.42%
DRI	B	0.42%
BAX	D	0.41%
ESS	B	0.41%
LUV	C	0.41%
CFG	B	0.4%
BALL	D	0.4%
MAS	D	0.39%
J	F	0.39%
BBY	D	0.39%
DG	F	0.39%
ZM	B	0.39%
DGX	A	0.38%
AVY	D	0.37%
TSN	B	0.37%
EXPD	D	0.37%
GPC	D	0.36%
KEY	B	0.36%
WBD	C	0.36%
WRB	A	0.36%
FNF	B	0.35%
TXT	D	0.34%
ROK	B	0.34%
AKAM	D	0.34%
LNT	A	0.34%
EG	C	0.34%
RVTY	F	0.33%
L	A	0.33%
CF	B	0.33%
SWK	D	0.32%
AVTR	F	0.32%
CVNA	B	0.32%
SSNC	B	0.32%
CE	F	0.31%
VTRS	A	0.31%
CAG	D	0.31%
NVR	D	0.3%
NWSA	B	0.3%
DLTR	F	0.29%
WPC	D	0.27%
LDOS	C	0.27%
HAL	C	0.25%
FOXA	B	0.25%
HUBB	B	0.25%
STE	F	0.24%
RPRX	D	0.23%
TRU	D	0.22%
HRL	D	0.21%
MKL	A	0.21%
STLD	B	0.21%
CPB	D	0.2%
NI	A	0.18%
CRBG	B	0.17%
EL	F	0.17%
MRO	B	0.17%
DOC	D	0.17%
TRMB	B	0.16%
MGM	D	0.09%
UDR	B	0.08%
BEN	C	0.07%
WBA	F	0.07%
WLK	D	0.06%
AGR	B	0.06%
ALB	C	0.06%
LEN	D	0.06%
FOX	A	0.06%

VOE Underweight 106 Positions Relative to QDF

Symbol	Grade	Weight
AAPL	C	-8.54%
NVDA	C	-5.81%
MSFT	F	-4.91%
META	D	-3.1%
PG	A	-3.03%
JNJ	D	-3.01%
ABBV	D	-2.58%
KO	D	-2.16%
ACN	C	-1.93%
GOOGL	C	-1.84%
HD	A	-1.77%
INTU	C	-1.74%
QCOM	F	-1.68%
GOOG	C	-1.63%
PM	B	-1.41%
LOW	D	-1.27%
UNP	C	-1.24%
ADP	B	-1.11%
GILD	C	-1.0%
MS	A	-0.98%
MO	A	-0.89%
AVGO	D	-0.88%
LRCX	F	-0.87%
VRT	B	-0.83%
NKE	D	-0.83%
SBUX	A	-0.76%
KLAC	D	-0.76%
CAT	B	-0.75%
JPM	A	-0.75%
ZTS	D	-0.74%
ITW	B	-0.74%
FAST	B	-0.68%
BK	A	-0.68%
MMM	D	-0.65%
PAYX	C	-0.63%
LMT	D	-0.62%
AFL	B	-0.62%
VIRT	B	-0.6%
KTB	B	-0.6%
JHG	A	-0.6%
PSA	D	-0.6%
CMA	A	-0.58%
TPR	B	-0.57%
MET	A	-0.56%
ORI	A	-0.55%
CHRW	C	-0.55%
VLO	C	-0.55%
MPC	D	-0.54%
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%
POOL	C	-0.44%
WSM	B	-0.43%
TT	A	-0.43%
CFR	B	-0.42%
HST	C	-0.41%
V	A	-0.4%
CTAS	B	-0.39%
LNC	B	-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%
IRDM	D	-0.31%
NEP	F	-0.3%
BR	A	-0.3%
MA	C	-0.26%
OLN	D	-0.25%
COST	B	-0.24%
NNN	D	-0.23%
WING	D	-0.2%
HRB	D	-0.17%
RMD	C	-0.17%
DPZ	C	-0.17%
PNW	B	-0.16%
PAYC	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%