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FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index ETF seeks to enhance exposure to the broad international stock market by tilting the portfolio toward the long-term growth potential of the small-cap and value segments. It seeks to provide investors with an expanded opportunity set of developed market stocks from outside the U.S. to help meet their longer-term capital appreciation needs. Designed to replace traditional market-weighted international equity products, the Fund applies a tilt to smaller-cap and value stocks using a multi-factor modeling approach that attempts to enhance portfolio risk/return characteristics. If occurring, dividends from net investment income, including any net foreign currency gains, are generally declared and paid quarterly. 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.

Fund Facts

as of 02/09/2016
Inception09/25/2012
CUSIP33939L803
Total Net Assets$ 495,948,467.36
Shares Outstanding10,200,001
# of Holdings*2,680
Gross Expense Ratio.43%
Net Expense Ratio**.42%
Index ProviderMorningstarĀ®
Primary ExchangeNYSE
Options AvailableN
MarginableY
Derivative UseY
Securities LendingY
*Cash positions and derivatives such as futures and currency forwards are not included in the number of holdings.

**NTI has contractually agreed to reimburse the fees and expenses of the Fund’s independent trustees and independent legal counsel until March 1, 2016.

Tickers

ETF TickerTLTD
Related IndexMDXUSFT
NAVTLTD.NV
IOPVTLTD.IV
Shares OutstandingTLTD.SO
Estimated CashTLTD.EU
Total CashTLTD.TC

Fund Characteristics

as of 02/09/2016
SEC Subsidized Yield* (as of 01/31/2016)2.87%
SEC Unsubsidized Yield**
 (as of 01/31/2016)
2.86%
Distribution Yield***2.90%
12-Month Dividend Yield****2.90%
Weighted Average Market Cap27,760,665,813.62
Price to Earnings (as of 01/31/2016)19.24
Price to Book  (as of 01/31/2016)2.47
Price to Cash Flow  (as of 01/31/2016)11.08
Price to Sales  (as of 01/31/2016)2.21
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 annually, an NA will be displayed if the fund has not distributed within the last 370 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.

Market Cap (%)

as of 02/09/2016
Large-Cap46.62
Mid-Cap14.63
Small-Cap37.73
Micro-Cap1.02
Total100.00

Style (%)

as of 02/09/2016
Value46.46
Core30.88
Growth22.66
Total100.00

SECTOR ALLOCATIONS

Sector Allocations

COUNTRY ALLOCATIONS

Country Allocations

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 09/28/2012, 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 01/31/2016
 1 MonthQTDYTD1 Year3 YearSince Inception
09/25/2012
Market Price-6.50-6.50-6.50-7.60.253.00
NAV-7.70-7.70-7.70-9.02.032.67
Morningstar® Developed Markets ex-US Factor Tilt Index (MDXUSFTN)-7.68-7.68-7.68-8.77.262.89
MSCI World ex USA Investable Market Index (MIMUWXUN)-6.98-6.98-6.98-8.41.322.78

Quarter End Performance (%)

as of 12/31/2015
 1 MonthQTDYTD1 Year3 YearSince Inception
09/25/2012
Market Price-1.493.76-1.34-1.343.695.22
NAV-1.284.13-2.03-2.034.455.29
Morningstar® Developed Markets ex-US Factor Tilt Index (MDXUSFTN)-1.204.29-1.81-1.814.685.51
MSCI World ex USA Investable Market Index (MIMUWXUN)-1.544.17-1.95-1.954.435.16
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 09/28/2012, 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 02/09/2016
Gross Expense Ratio.43%
Net Expense Ratio*.42%
*NTI has contractually agreed to reimburse the fees and expenses of the Fund’s independent trustees and independent legal counsel until March 1, 2016.


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 02/09/2016
Price$48.68
Price $ Change$-.65
Price % Change-1.32%
Avg Bid/Ask Spread$.17
Bid/Ask Midpoint$48.76
Closing Bid Price$48.69
Closing Ask Price$48.83

Trading

as of 02/09/2016
52-Week High$64.44
52-Week Low$47.87
Premium/Discount$.14
Daily Trading Volume (Shares)91,922
Average Trading Volume (Shares)104,583
Shares Outstanding10,200,001

NAV Price

as of 02/09/2016
Price$48.62
Price $ Change$-.94
Price % Change-1.90%

TOP TEN HOLDINGS

as of 02/09/2016
NameTickerFund
Weight %
SectorMarket CapCountry
TOYOTA MOTOR CORP COMMON STOCK JPY72031.0756Consumer DiscretionaryLarge-CapJapan
NESTLE SA COMMON STOCK CHF 0.10.9582Consumer StaplesLarge-CapSwitzerland
HSBC HOLDINGS PLC COMMON STOCK GBP 0.50.8261FinancialsLarge-CapUnited Kingdom
NOVARTIS AG COMMON STOCK CHF 0.50.7836Health CareLarge-CapSwitzerland
TOTAL SA COMMON STOCK EUR 2.50.7148EnergyLarge-CapFrance
ROCHE HOLDING AG COMMON STOCK CHF 00.6890Health CareLarge-CapSwitzerland
BP PLC COMMON STOCK GBP 0.250.5986EnergyLarge-CapUnited Kingdom
ROYAL DUTCH SHELL PLC COMMON STOCK0.5613EnergyLarge-CapUnited Kingdom
ROYAL BANK OF CANADA COMMON STOCK CAD 0RY0.5324FinancialsLarge-CapCanada
ALLIANZ SE COMMON STOCK EUR 00.4842FinancialsLarge-CapGermany
DAIMLER AG COMMON STOCK EUR 00.4753Consumer DiscretionaryLarge-CapGermany
MITSUBISHI UFJ FINANCIAL GROUP INC COMMON STOCK83060.4162FinancialsLarge-CapJapan
BRITISH AMERICAN TOBACCO PLC COMMON STOCK GBP 250.4143Consumer StaplesLarge-CapUnited Kingdom
ANHEUSER-BUSCH INBEV SA/NV COMMON STOCK EUR 00.3992Consumer StaplesLarge-CapBelgium
ROYAL DUTCH SHELL PLC COMMON STOCK GBP 0.070.3784EnergyLarge-CapUnited Kingdom
SANOFI COMMON STOCK EUR 20.3638Health CareLarge-CapFrance
NOVO NORDISK A/S COMMON STOCK DKK 0.20.3618Health CareLarge-CapDenmark
NATIONAL AUSTRALIA BANK LTD COMMON STOCK AUD 0NAB0.3579FinancialsLarge-CapAustralia
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD COMMONANZ0.3506FinancialsLarge-CapAustralia
BAYER AG COMMON STOCK EUR 00.3477Health CareLarge-CapGermany
COMMONWEALTH BANK OF AUSTRALIA COMMON STOCK AUD 0CBA0.3458FinancialsLarge-CapAustralia
GLAXOSMITHKLINE PLC COMMON STOCK GBP 250.3436Health CareLarge-CapUnited Kingdom
LLOYDS BANKING GROUP PLC COMMON STOCK GBP 100.3339FinancialsLarge-CapUnited Kingdom
BANCO SANTANDER SA COMMON STOCK0.3232FinancialsLarge-CapSpain
HONDA MOTOR CO LTD COMMON STOCK JPY72670.3115Consumer DiscretionaryLarge-CapJapan
AXA SA COMMON STOCK EUR 2.290.3015FinancialsLarge-CapFrance
BNP PARIBAS SA COMMON STOCK EUR 20.2993FinancialsLarge-CapFrance
UNILEVER NV DUTCH CERT EUR 0.160.2970Consumer StaplesLarge-CapNetherlands
BANCO BILBAO VIZCAYA ARGENTARIA SA COMMON STOCK0.2928FinancialsLarge-CapSpain
SAP SE COMMON STOCK EUR 00.2920Information TechnologyLarge-CapGermany
ASTRAZENECA PLC COMMON STOCK GBP 0.250.2903Health CareLarge-CapUnited Kingdom
SIEMENS AG COMMON STOCK EUR 00.2884IndustrialsLarge-CapGermany
ORANGE SA COMMON STOCK EUR 40.2831Telecommunication ServicesLarge-CapFrance
VODAFONE GROUP PLC COMMON STOCK GBP 0.2095VOD0.2799Telecommunication ServicesLarge-CapUnited Kingdom
ING GROEP NV DUTCH CERT EUR 0.240.2798FinancialsLarge-CapNetherlands
BANK OF NOVA SCOTIA/THE COMMON STOCK CAD 0BNS0.2644FinancialsLarge-CapCanada
SUMITOMO MITSUI FINANCIAL GROUP INC COMMON STOCK83160.2643FinancialsLarge-CapJapan
WESTPAC BANKING CORP COMMON STOCK AUD 0WBC0.2566FinancialsLarge-CapAustralia
AIA GROUP LTD COMMON STOCK HKD 012990.2546FinancialsLarge-CapHong Kong
TORONTO-DOMINION BANK/THE COMMON STOCK CAD 0TD0.2499FinancialsLarge-CapCanada
MIZUHO FINANCIAL GROUP INC COMMON STOCK JPY84110.2475FinancialsLarge-CapJapan
BT GROUP PLC COMMON STOCK GBP 50.2426Telecommunication ServicesLarge-CapUnited Kingdom
RECKITT BENCKISER GROUP PLC COMMON STOCK GBP 100.2411Consumer StaplesLarge-CapUnited Kingdom
NATIONAL GRID PLC COMMON STOCK GBP 11.395350.2410UtilitiesLarge-CapUnited Kingdom
SABMILLER PLC COMMON STOCK GBP 0.10.2389Consumer StaplesLarge-CapUnited Kingdom
TEVA PHARMACEUTICAL INDUSTRIES LTD COMMON STOCKTEVA0.2382Health CareLarge-CapIsrael
BARCLAYS PLC COMMON STOCK GBP 250.2354FinancialsLarge-CapUnited Kingdom
DIAGEO PLC COMMON STOCK GBP 28.935180.2334Consumer StaplesLarge-CapUnited Kingdom
DEUTSCHE TELEKOM AG COMMON STOCK EUR 00.2258Telecommunication ServicesLarge-CapGermany
SWISS RE AG COMMON STOCK CHF 0.10.2251FinancialsLarge-CapSwitzerland
 

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/22/201612/27/201612/29/2016
09/19/201609/21/201609/23/2016
06/20/201606/22/201606/24/2016
03/21/201603/23/201603/28/2016
12/23/201512/28/201512/30/20151.4103380001.410338
12/29/201412/31/201401/05/20151.7956880001.795688
12/27/201312/31/201301/03/20140.7216810000.721681
12/27/201212/31/201201/03/20130.1133100000.113310

The Morningstar® Developed Markets ex-US Factor Tilt IndexSM measures the performance of stocks located in developed countries across the world (as defined by Morningstar, excluding the United States) with increased exposure to small-capitalization and value stocks. Stocks that are deemed to be small capitalization or small value have an overweighting in the index compared to their weight in a corresponding market-capitalization-weighted index. Like­wise, stocks designated as "large" or "growth" stocks have underweighting compared to a standard market-capitalization weighting.