The below table shows that quality factor commercial indices are not all the same.

They have different inputs and methodologies, which often lead to different outcomes.

Index Details Factor Characteristics  Methodology
Index Name: S&P 500 Quality Index 
Index Provider: S&P Dow Jones Indices LLC 
ROE (TTM), Balance Sheet Accruals Ratio (Change in NOA/Avg NOA), Leverage (Total Debt/BVE) Tilt S&P 500 Index (capitalisation-weighted) towards 100 constituents with their weights based on the product of their market cap in the Parent Index and Overall Quality (based on the 3 Quality metrics) 
Index Name: Russell 2000 0.4 Target Exposure Quality Factor Index
Index Provider: FTSE Russell
Profitability (Only ROA for profitability in case of Financial and RE companies): ROA, Accruals Ratio, Change in ATO; Leverage: Leverage Ratio (OCF/Total Debt) Tilt Russell 2000 Index (capitalisation-weighted) based on a combined Quality Z-score 
Index Name: NIFTY100 Quality 30 Index
Index Provider: NSE Indices Ltd
ROE, Financial Leverage (D/E), and last 5-Yr EPS growth variability  Choose 30 stocks from NIFTY100 Index (capitalisation-weighted) based on their quality scores and weight them according to the product of their free-float MC and Quality Z-Score
Index Name: Fidelity U.S. Quality Factor Index
Index Provider: Fidelity Investments Inc.
For Non-Banks: FCF Margin, ROIC, FCF Stability; For Banks: ROE, Debt to Assets Select high quality stocks, from top 1,000 stocks in the U.S., based on a composite score. Security weights determined on the basis of an overweight adjustment (identical for all stocks within a sector) and their market capitalisations
Index Name: MSCI India Quality Index
Index Provider: MSCI Inc. 
ROE, Debt-to-Equity, Earnings Variability Tilt MSCI India Index (capitalisation-weighted) towards high Quality constituents with weights equal to their product of market capitalisations weight in MSCI India Index and Composite Quality Score 

 Source: FTSE Russell, MSCI Inc, S&P Dow Jones Indices LLC, NSE Indices Ltd. & Fidelity Investments Inc.

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