# Portfolio overlap — FDEV vs QLVD

Comparing **Fidelity International Multifactor ETF** (2026-01-31) and **FlexShares Developed Markets ex-US Quality Low Volatility Index Fund** (2026-01-31).

- Shared positions: 60
- Fidelity International Multifactor ETF covered by FlexShares Developed Markets ex-US Quality Low Volatility Index Fund: 0.2216165083959931196352875715
- FlexShares Developed Markets ex-US Quality Low Volatility Index Fund covered by Fidelity International Multifactor ETF: 0.2216165083959931196352875713

## Fidelity International Multifactor ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| FRESNILLO PLC | 0.018233 |  |
| PSP SWISS PR-REG | 0.017146 |  |
| ENGIE | 0.015434 | ✓ |
| TOKYO GAS CO LTD | 0.014997 | ✓ |
| ITALGAS SPA | 0.014873 |  |
| Daito Trust Construction Company, Ltd. | 0.014766 |  |
| RIO TINTO PLC | 0.013994 |  |
| KINROSS GOLD CORP | 0.013936 |  |
| Vodafone Group Public Limited Company | 0.013750 |  |
| SINO LAND | 0.013490 | ✓ |
| DRAX GROUP PLC | 0.013451 |  |
| AGNICO EAGLE MINES LTD | 0.013441 |  |
| ENDESA | 0.013275 |  |
| BHP GROUP LTD | 0.012675 |  |
| CENTRICA PLC | 0.012611 |  |
| QUEBECOR INC-B | 0.011918 |  |
| CAPITALAND INTEG | 0.011672 | ✓ |
| KDDI Corporation | 0.011492 | ✓ |
| CAN UTILITIES-A | 0.011269 |  |
| UNILEVER PLC | 0.011253 | ✓ |
| KPN (KONIN) NV | 0.010682 | ✓ |
| HOLCIM LTD | 0.010562 |  |
| LUNDIN GOLD INC | 0.010498 |  |
| CAPCOM CO LTD | 0.009648 |  |
| ALLIANZ SE (REGD) | 0.008749 | ✓ |
| OJI HOLDINGS COR | 0.008623 |  |
| JAPAN TOBACCO | 0.008569 | ✓ |
| ESSITY AKTIEBO-B | 0.008300 |  |
| DANONE SA | 0.007975 | ✓ |
| RECKITT BENCKISE | 0.007972 |  |
| ROCHE HOLDINGS AG (GENUSSCHEINE) | 0.007896 | ✓ |
| KONINKLIJKE AHOL | 0.007672 | ✓ |
| ORKLA ASA | 0.007459 |  |
| RIO TINTO LTD | 0.007432 |  |
| MITSUI & CO | 0.007374 |  |
| CARLSBERG-B | 0.007347 |  |
| FIRSTSERVICE-WI | 0.007321 |  |
| BUZZI UNICEM SPA | 0.007292 |  |
| Givaudan SA (Registered) | 0.007253 | ✓ |
| HOCHTIEF AG | 0.006985 |  |
| LOBLAW COS LTD | 0.006917 | ✓ |
| Z HOLDINGS CORP | 0.006795 | ✓ |
| IMPERIAL BRANDS | 0.006791 |  |
| Novartis AG (Registered) | 0.006712 | ✓ |
| EMS-Chemie Holding AG (Registered) | 0.006624 | ✓ |
| Kerry Group Public Limited Company | 0.006574 |  |
| ZURICH INSURANCE | 0.006487 | ✓ |
| AUTOTRADER GROUP | 0.006398 | ✓ |
| OCBC BANK | 0.006383 | ✓ |
| TOYO SUISAN KAI | 0.006361 |  |

## FlexShares Developed Markets ex-US Quality Low Volatility Index Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Treasury Repurchase Agreement | 0.038021 |  |
| Novartis AG (Registered) | 0.036178 | ✓ |
| UNILEVER PLC | 0.025507 | ✓ |
| ROYAL BANK OF CANADA | 0.021854 |  |
| Sanofi SA | 0.017930 | ✓ |
| NESTLE SA (REG) | 0.015376 |  |
| CAN IMPL BK COMM | 0.014929 |  |
| MITSUBISHI CORP | 0.014808 |  |
| L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | 0.014592 |  |
| IBERDROLA SA | 0.014588 |  |
| ASML Holding NV | 0.014574 |  |
| DEUTSCHE TELEKOM | 0.013152 |  |
| MUENCHENER RUE-R | 0.013009 |  |
| DBS GROUP HLDGS | 0.012931 |  |
| JAPAN POST BANK | 0.011384 |  |
| OCBC BANK | 0.010373 | ✓ |
| FRANCO-NEVADA CORP | 0.010201 |  |
| ZURICH INSURANCE | 0.010143 | ✓ |
| BANK LEUMI LE-IS | 0.009547 | ✓ |
| BANK HAPOALIM | 0.009467 | ✓ |
| ENGIE | 0.009329 | ✓ |
| TAKEDA PHARMACEU | 0.009256 |  |
| CAN NATL RAILWAY | 0.009003 |  |
| DANONE SA | 0.008822 | ✓ |
| Compass Group PLC | 0.008718 |  |
| FERGUSON ENTERPRISES INC | 0.008680 |  |
| POWER ASSETS | 0.008648 |  |
| SWISS PRIME -REG | 0.008592 |  |
| DEUTSCHE BOERSE | 0.008574 |  |
| SHIONOGI & CO | 0.008538 | ✓ |
| CK INFRASTRUCTURE HOLDINGS LTD | 0.008502 |  |
| KDDI Corporation | 0.008474 | ✓ |
| Kone OYJ, Class B | 0.008337 | ✓ |
| AENA SME SA | 0.008269 |  |
| SOFTBANK CORP | 0.008192 |  |
| MIZRAHI TEFAHOT | 0.008171 | ✓ |
| NATL BK CANADA | 0.008168 |  |
| KPN (KONIN) NV | 0.008167 | ✓ |
| SHELL PLC | 0.008160 | ✓ |
| SGS SA-REG | 0.008144 |  |
| BOC HONG KONG HO | 0.008122 | ✓ |
| HALEON PLC | 0.008103 | ✓ |
| SCHINDLER HLD-PC | 0.008035 |  |
| SINGAPORE EXCH | 0.007991 | ✓ |
| SAMPO OYJ-A SHS | 0.007789 |  |
| GEBERIT INTERNATINAL AG | 0.007716 | ✓ |
| CAPITALAND INTEG | 0.007704 | ✓ |
| LINDT SPRUENGLI AG PC | 0.007594 |  |
| JAPAN TOBACCO | 0.007594 | ✓ |
| INTACT FINL CORP | 0.007380 | ✓ |


## Sources

- N-PORT (fund A) — accession `0000035402-26-001972` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/945908/000003540226001972/0000035402-26-001972-index.htm>
- N-PORT (fund B) — accession `0002071691-26-006231` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1491978/000207169126006231/0002071691-26-006231-index.htm>

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