# Portfolio overlap — QLVD vs IQLT

Comparing **FlexShares Developed Markets ex-US Quality Low Volatility Index Fund** (2026-01-31) and **iShares MSCI Intl Quality Factor ETF** (2026-01-31).

- Shared positions: 81
- FlexShares Developed Markets ex-US Quality Low Volatility Index Fund covered by iShares MSCI Intl Quality Factor ETF: 0.2691938699623528490082756339
- iShares MSCI Intl Quality Factor ETF covered by FlexShares Developed Markets ex-US Quality Low Volatility Index Fund: 0.2691938699623528490082756340

## 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 | ✓ |

## iShares MSCI Intl Quality Factor ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| ASML Holding NV | 0.061190 | ✓ |
| ROCHE HOLDINGS AG (GENUSSCHEINE) | 0.024617 | ✓ |
| ALLIANZ SE (REGD) | 0.024513 | ✓ |
| Novartis AG (Registered) | 0.022898 | ✓ |
| SHELL PLC | 0.022103 | ✓ |
| ASTRAZENECA PLC | 0.020268 | ✓ |
| ABB Ltd. (Registered) | 0.019229 |  |
| NESTLE SA (REG) | 0.019056 | ✓ |
| ZURICH INSURANCE | 0.016644 | ✓ |
| NOVO NORDISK-B | 0.015746 |  |
| SCHNEIDER ELECTR | 0.014065 |  |
| ADVANTEST CORP | 0.013990 |  |
| UNILEVER PLC | 0.013953 | ✓ |
| TOKIO MARINE HOLDINGS INC COMMON STOCK | 0.012951 |  |
| HKEX | 0.012676 |  |
| BHP GROUP LTD | 0.012450 |  |
| LVMH MOET HENNESSY LOUIS VUITTON SE | 0.011823 | ✓ |
| MUENCHENER RUE-R | 0.011809 | ✓ |
| IBERDROLA SA | 0.011481 | ✓ |
| RECRUIT HOLDINGS | 0.011018 |  |
| TOKYO ELECTRON | 0.010743 |  |
| DBS GROUP HLDGS | 0.010415 | ✓ |
| INDITEX SA | 0.010132 | ✓ |
| RHEINMETALL AG | 0.009603 |  |
| Hermes International SCA | 0.009342 |  |
| RELX PLC | 0.009034 | ✓ |
| AXA | 0.008141 |  |
| ATLAS COPCO-A | 0.008078 |  |
| SUNCOR ENERGY INC | 0.008005 |  |
| GSK PLC | 0.007941 | ✓ |
| CIE FINANCI-REG | 0.007749 |  |
| BAE SYSTEMS PLC | 0.007678 |  |
| MANULIFE FIN | 0.007665 |  |
| L'OREAL SA ORD | 0.007479 |  |
| NINTENDO CO LTD | 0.007473 |  |
| WESFARMERS LTD | 0.007216 |  |
| 3I GROUP PLC | 0.007079 |  |
| RIO TINTO PLC | 0.007030 |  |
| L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | 0.006975 | ✓ |
| FAST RETAILING CO LTD | 0.006934 |  |
| OCBC BANK | 0.006674 | ✓ |
| DEUTSCHE BOERSE | 0.006569 | ✓ |
| BRITISH AMERICAN TOBACCO PLC | 0.006308 |  |
| ADYEN NV | 0.006196 |  |
| PARTNERS GROUP HOLDING AG COMMON STOCK | 0.006174 |  |
| LONDON STOCK EXCHANGE GRP PLC | 0.006148 |  |
| Prudential Public Limited Company | 0.006070 |  |
| FERRARI NV | 0.006000 |  |
| AGNICO EAGLE MINES LTD | 0.005805 |  |
| Compass Group PLC | 0.005714 | ✓ |


## Sources

- N-PORT (fund A) — accession `0002071691-26-006231` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1491978/000207169126006231/0002071691-26-006231-index.htm>
- N-PORT (fund B) — accession `0001410368-26-031725` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1100663/000141036826031725/0001410368-26-031725-index.htm>

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