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FlexShares iBoxx 5-Year Target Duration TIPS Index Fund

FlexShares iBoxx 5-Year Target Duration TIPS Index Fund gives investors access to the inflation-hedging qualities of TIPS and seeks to provide targeted duration exposure through changing interest rate and economic cycles. The Fund has a secondary goal of income generation and may also be used to help diversify a portfolio. The Fund reflects the performance of a selection of inflation-protected public obligations of the U.S. Treasury, commonly known as "TIPS," with a target average duration of approximately five years and specific maturity dates of at least three years but not more than 20 years. The Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the iBoxx 5-Year Target Duration TIPS Index. If occurring, dividends from net investment income are generally declared and paid monthly. Distributions of net realized securities gains, if any, are generally declared and paid once a year, but the Fund may make such distributions on a more frequent basis.

Spotlight on TDTF

Fund Facts

as of 08/27/2014
Inception09/19/2011
CUSIP33939L605
Total Net Assets$ 313,411,950.34
Shares Outstanding12,400,001
# of Holdings10
Gross Expense Ratio.21%
Net Expense Ratio*.20%
Index ProviderMarkitĀ®
Primary ExchangeNYSE
Options AvailableN
MarginableY
Derivative UseY
Securities LendingN
*NTI has contractually agreed to reimburse the fees and expenses of the Fund’s independent trustees and independent legal counsel until March 1, 2015.

Tickers

ETF TickerTDTF
Related IndexIBXXTD5C
NAVTDTF.NV
IOPVTDTF.IV
Shares OutstandingTDTF.SO
Estimated CashTDTF.EU
Total CashTDTF.TC

Fund Characteristics

as of 08/27/2014
SEC Subsidized Yield* (as of 07/31/2014)3.15%
SEC Unsubsidized Yield** (as of 07/31/2014)3.15%
Distribution Yield***3.25%
12-Month Dividend Yield****1.06%
Weighted Avg Maturity5.16
Weighted Avg Real Yield-.27%
Weighted Avg Nominal Yield1.72%
Weighted Avg Coupon1.21
Weighted Avg Price107.51
Modified Adjusted Duration5.16
View Standardized Performance
*SEC Subsidized Yield
The 30-Day SEC Subsidized Yield is computed under an SEC standardized formula based on net income earned over the past 30 days. It is a "subsidized" yield, which means it includes contractual expense reimbursements and it would be lower without those reimbursements. It may also include an inflation adjustment that can cause the yield to vary substantially from one month to the next.
**SEC Unsubsidized Yield
The 30-Day SEC Unsubsidized Yield calculation is also computed under the same SEC standardized formula based on net income earned over the past 30 days, but excludes contractual expense reimbursements, resulting in a lower yield. It may also include an inflation adjustment that can cause the yield to vary substantially from one month to the next.
***Distribution Yield
This yield is calculated by taking the most recent distribution annualized and dividing by the fund NAV from the as of date. For Funds that distribute monthly, an NA will be displayed if the fund has not distributed within the last 35 days.
****Dividend Yield
For an equity security, dividend yield is calculated using the (expected) annual dividend divided by the most recent closing price. To calculate annual dividend, we utilize the most recent dividend payment and multiply that payment by the expected frequency over a year. For example, if the most recent dividend for a company is $2.50 and dividends are expected to be paid quarterly (4 dividend payments/year), the annual expected dividend would be calculated as $2.50 x 4 dividend payments/year, or $10.

Maturity (%)

as of 08/27/2014
3 - 5 Years48.78
5 - 10 Years51.22
Total100.00

QUALITY ALLOCATIONS

  • S&P
  • Moody's
  • Fitch
as of 08/27/2014% of Total
AA+100.00
Total100.00
as of 08/27/2014% of Total
Aaa100.00
Total100.00
as of 08/27/2014% of Total
AAA100.00
Total100.00

Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. For most recent month end performance please call 1-855-353-9383 (1-855-FlexETF). All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 09/22/2011, when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. They do not represent the returns you would receive if you traded shares at other times. Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index.

Month End Performance (%)

as of 07/31/2014
 1 MonthQTDYTD1 YearSince Inception
09/19/2011
Market Price-.45-.452.851.581.41
NAV-.45-.452.851.701.41
iBoxx 5-Year Target Duration TIPS Index  (IBXXTD5T)-.42-.423.022.081.63
Barclays US TIPS Index (LBUTTRUU).03.035.863.711.72

Quarter End Performance (%)

as of 06/30/2014
 1 MonthQTDYTD1 YearSince Inception
09/19/2011
Market Price.362.733.313.191.62
NAV.292.733.313.191.62
iBoxx 5-Year Target Duration TIPS Index  (IBXXTD5T).382.833.453.521.84
Barclays US TIPS Index (LBUTTRUU).303.815.834.441.76
Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. For most recent month end performance please call 1-855-353-9383 (1-855-FlexETF). All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 09/22/2011, when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. They do not represent the returns you would receive if you traded shares at other times. Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index.

Expense Ratios

as of 08/27/2014
Gross Expense Ratio.21%
Net Expense Ratio*.20%
*NTI has contractually agreed to reimburse the fees and expenses of the Fund’s independent trustees and independent legal counsel until March 1, 2015.


Definitions

  • Net Asset Value (NAV)
    NAV is a fund’s price per share, which is calculated by dividing the total value of all the securities in the fund’s portfolio plus cash, interest and receivables less any liabilities by the number of fund shares outstanding.
  • Market Price
    Because ETFs trade like stocks, ETF shares trade at market value on the secondary market, which can be a dollar value above (trading at a premium) or below (trading at a discount) the fund’s NAV.

Market Price

as of 08/27/2014
Price$25.31
Price $ Change$.05
Price % Change.20%
Avg Bid/Ask Spread$.02
Bid/Ask Midpoint$25.30
Closing Bid Price$25.28
Closing Ask Price$25.31

Trading

as of 08/27/2014
52-Week High$25.66
52-Week Low$24.59
Premium/Discount$.02
Daily Trading Volume (Shares)20,012
Average Trading Volume (Shares)26,876
Shares Outstanding12,400,001

NAV Price

as of 08/27/2014
Price$25.28
Price $ Change$.03
Price % Change.12%

TOP TEN HOLDINGS

as of 08/27/2014
NameFund
Weight %
CouponMaturityCountry
UNITED STATES TREAS NTS 1.25% TIPS VAR 15/JUL/202025.20831.2507/15/2020United States
UNITED STATES OF AMER TREAS NOTES 1.375% NTS14.90001.3801/15/2020United States
UNITED STATES OF AMERICA NOTES FIXED 1.875%12.37471.8807/15/2019United States
UNITED STATES OF AMERICA NOTES FIXED 0.125%12.2389.1304/15/2019United States
UNITED STATES TREAS NTS 2.125% TIPS 15/JAN/201911.95592.1301/15/2019United States
UNITED STATES OF AMERICA NOTES FIXED .125%7.0955.1304/15/2018United States
UNITED STATES OF AMERICA NOTES FIXED 1.125%5.77951.1301/15/2021United States
UNITED STATES OF AMERICA NOTES FIXED .625%5.3358.6307/15/2021United States
UNITED STATES OF AMER TREAS NOTES 1.625%2.70811.6301/15/2018United States
UNITED STATES TREAS NTS TIPS 1.375% 15/JUL/20182.40341.3807/15/2018United States

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/29/201412/31/201401/05/2015
12/01/201412/03/201412/05/2014
11/03/201411/05/201411/07/2014
10/01/201410/03/201410/07/2014
09/02/201409/04/201409/08/2014
08/01/201408/05/201408/07/20140.0698810000.069881
07/01/201407/03/201407/08/20140.0645830000.064583
06/02/201406/04/201406/06/20140.1227380000.122738
05/01/201405/05/201405/07/201400000
04/01/201404/03/201404/07/201400000
03/03/201403/05/201403/07/201400000
02/03/201402/05/201402/07/201400000
12/27/201312/31/201301/03/20140.0106530000.010653
12/02/201312/04/201312/06/201300000
11/01/201311/05/201311/07/201300000
10/01/201310/03/201310/07/201300000
09/03/201309/05/201309/09/201300000
08/01/201308/05/201308/07/201300000
07/01/201307/03/201307/08/201300000
06/03/201306/05/201306/07/20130.0320040000.032004
05/01/201305/03/201305/07/201300000
04/01/201304/03/201304/05/201300000
03/01/201303/05/201303/07/201300000
02/01/201302/05/201302/07/201300000
12/27/201212/31/201201/03/201300.0986350.00114300.099778
12/03/201212/05/201212/07/20120.0493260000.049326
11/01/201211/05/201211/07/201200000
10/01/201210/03/201210/05/201200000
09/04/201209/06/201209/10/201200000
08/01/201208/03/201208/07/201200000
07/02/201207/05/201207/09/20120.0744290000.074429
06/01/201206/05/201206/07/20120.1336170000.133617
05/01/201205/03/201205/07/20120.0185370000.018537
04/02/201204/04/201204/09/201200000
03/01/201203/05/201203/07/201200000
02/01/201202/03/201202/07/201200000
12/28/201112/30/201101/05/201200.009698000.009698
12/01/201112/05/201112/07/20110.0170720000.017072
11/01/201111/03/201111/07/20110.0260740000.026074

The iBoxx 5-Year Target Duration TIPS Index measures the performance of Treasury Inflation Protected Securities (TIPS) as determined by Markit iBoxx's proprietary index methodology. The iBoxx index methodology targets a modified adjusted duration of 5.0 years and defines the eligible universe of TIPS as having no less than 3 years and no more than 20 years until maturity as of the Index determination date. A proprietary regression calculation is then used to determine the modified adjusted duration of the TIPS and weight the TIPS in the Index at a modified adjusted duration level within a range of 5.0 years, plus or minus 5% within Index constraints. One cannot invest directly in an index.