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FlexShares Morningstar Global Upstream Natural Resources Index Fund

FlexShares Morningstar Global Upstream Natural Resources Index ETF seeks to provide investors exposure to the rising demand for natural resources that is being driven by globalization. It is one of the first ETFs with a balanced emphasis on the "upstream" portion of the natural resources supply chain, providing coverage of global companies in the energy, metals and agriculture sectors, while maintaining a core exposure to the timberlands and water resources sectors. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar Global Upstream Natural Resources Index. If occurring, dividends from net investment income, including any net foreign currency gains, are generally declared and paid annually. 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 GUNR

Related Documents

Fund Facts

as of 07/02/2015
Inception09/16/2011
CUSIP33939L407
Total Net Assets$ 2,473,418,027.56
Shares Outstanding83,200,001
# of Holdings127
Gross Expense Ratio.49%
Net Expense Ratio*.48%
Index ProviderMorningstarĀ®
Primary ExchangeNYSE
Options AvailableY
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, 2016.

Tickers

ETF TickerGUNR
Related IndexMUNR
NAVGUNR.NV
IOPVGUNR.IV
Shares OutstandingGUNR.SO
Estimated CashGUNR.EU
Total CashGUNR.TC

Fund Characteristics

as of 07/02/2015
SEC Subsidized Yield* (as of 05/31/2015)2.89%
SEC Unsubsidized Yield**
 (as of 05/31/2015)
2.88%
Distribution Yield***2.88%
12-Month Dividend Yield****2.88%
Weighted Average Market Cap56,048,695,039.13
Price to Earnings (as of 05/31/2015)22.61
Price to Book  (as of 05/31/2015)2.23
Price to Cash Flow  (as of 05/31/2015)11.69
Price to Sales  (as of 05/31/2015)2.07
View Standardized Performance
*SEC Subsidized Yield
The 30-Day SEC Yield calculation takes the dividend and interest income earned during the period less accrued expenses for the period, net of NTI reimbursements, and divides that total by the average daily number of outstanding shares that were entitled to distributions times the maximum public offering price per share on the last day of the period. The 30-Day SEC Yield 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 07/02/2015
Large-Cap79.56
Mid-Cap15.88
Small-Cap4.55
Micro-Cap.01
Total100.00

Style (%)

as of 07/02/2015
Value55.94
Core22.19
Growth21.87
Total100.00

SECTOR ALLOCATIONS

GUNR 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 09/22/2011, 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 05/31/2015
 1 MonthQTDYTD1 Year3 YearSince Inception
09/16/2011
Market Price-1.694.962.02-10.782.07-1.36
NAV-1.894.69.94-10.852.11-1.44
Morningstar® Global Upstream Natural Resources Index  (MUNRT)-1.944.661.25-10.512.47-1.23
S&P Global Natural Resources Index (SPGNRUN)-1.545.342.58-10.382.85-1.51

Quarter End Performance (%)

as of 03/31/2015
 1 MonthQTDYTD1 Year3 yearSince Inception
09/16/2011
Market Price-6.75-2.80-2.80-12.50-3.85-2.76
NAV-6.67-3.59-3.59-12.28-3.75-2.78
Morningstar® Global Upstream Natural Resources Index  (MUNRT)-6.64-3.26-3.26-11.92-3.43-2.55
S&P Global Natural Resources Index (SPGNRUN)-6.55-2.61-2.61-12.01-3.68-3.01
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 07/02/2015
Gross Expense Ratio.49%
Net Expense Ratio*.48%
*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 07/02/2015
Price$29.77
Price $ Change$.24
Price % Change.81%
Avg Bid/Ask Spread$.04
Bid/Ask Midpoint$29.79
Closing Bid Price$29.78
Closing Ask Price$29.80

Trading

as of 07/02/2015
52-Week High$38.20
52-Week Low$29.02
Premium/Discount$.06
Daily Trading Volume (Shares)180,679
Average Trading Volume (Shares)183,876
Shares Outstanding83,200,001

NAV Price

as of 07/02/2015
Price$29.73
Price $ Change$.17
Price % Change.58%

TOP TEN HOLDINGS

as of 07/02/2015
NameTickerFund
Weight %
SectorMarket CapCountry
EXXON MOBIL CORP COMMON STOCK USD 0XOM4.9296EnergyLarge-CapUnited States
SYNGENTA AG COMMON STOCK CHF 0.14.8908AgricultureLarge-CapSwitzerland
MONSANTO CO COMMON STOCK USD 0.01MON4.7667AgricultureLarge-CapUnited States
BHP BILLITON LTD COMMON STOCK AUD 0BHP4.4311MetalLarge-CapAustralia
RIO TINTO PLC COMMON STOCK GBP 104.2223MetalLarge-CapUnited Kingdom
CHEVRON CORP COMMON STOCK USD 0.75CVX3.3768EnergyLarge-CapUnited States
GLENCORE PLC COMMON STOCK GBP 0.013.3659MetalLarge-CapUnited Kingdom
ARCHER-DANIELS-MIDLAND CO COMMON STOCK USD 0ADM3.3080AgricultureLarge-CapUnited States
POTASH CORP OF SASKATCHEWAN INC COMMON STOCK CAD 0POT3.1968AgricultureLarge-CapCanada
BP PLC COMMON STOCK GBP 0.252.5870EnergyLarge-CapUnited Kingdom
ROYAL DUTCH SHELL PLC COMMON STOCK GBP 0.072.2612EnergyLarge-CapUnited Kingdom
TOTAL SA COMMON STOCK EUR 2.52.1283EnergyLarge-CapFrance
AGRIUM INC COMMON STOCK CAD 0AGU2.0303AgricultureLarge-CapCanada
CF INDUSTRIES HOLDINGS INC COMMON STOCK USD 0.01CF1.9090AgricultureLarge-CapUnited States
ANGLO AMERICAN PLC COMMON STOCK GBP 0.549451.6595MetalLarge-CapUnited Kingdom
MOSAIC CO/THE COMMON STOCK USD 0.01MOS1.6273AgricultureLarge-CapUnited States
FREEPORT-MCMORAN INC COMMON STOCK USD 0.1FCX1.5151MetalLarge-CapUnited States
BUNGE LTD COMMON STOCK USD 0.01BG1.4731AgricultureLarge-CapUnited States
CONOCOPHILLIPS COMMON STOCK USD 0.01COP1.3703EnergyLarge-CapUnited States
INTERNATIONAL PAPER CO COMMON STOCK USD 1IP1.2947TimberLarge-CapUnited States
BG GROUP PLC COMMON STOCK GBP 101.2595EnergyLarge-CapUnited Kingdom
YARA INTERNATIONAL ASA COMMON STOCK NOK 1.71.2579AgricultureLarge-CapNorway
OCCIDENTAL PETROLEUM CORP COMMON STOCK USD 0.2OXY1.1329EnergyLarge-CapUnited States
WEYERHAEUSER CO REIT USD 1.25WY1.0825TimberLarge-CapUnited States
ENI SPA COMMON STOCK EUR 00.9677EnergyLarge-CapItaly
GRUPO MEXICO SAB DE CV COMMON STOCK MXN 0GMEXICO B0.9599MetalLarge-CapMexico
ALCOA INC COMMON STOCK USD 1AA0.9321MetalLarge-CapUnited States
GOLDCORP INC COMMON STOCK CAD 0G0.9298MetalLarge-CapCanada
SUNCOR ENERGY INC COMMON STOCK CAD 0SU0.9166EnergyLarge-CapCanada
BARRICK GOLD CORP COMMON STOCK CAD 0ABX0.9101MetalLarge-CapCanada
UNITED UTILITIES GROUP PLC COMMON STOCK GBP 50.8772WaterMid-CapUnited Kingdom
K+S AG COMMON STOCK EUR 00.8721AgricultureMid-CapGermany
EOG RESOURCES INC COMMON STOCK USD 0.01EOG0.8330EnergyLarge-CapUnited States
ANADARKO PETROLEUM CORP COMMON STOCK USD 0.1APC0.7675EnergyLarge-CapUnited States
SEVERN TRENT PLC COMMON STOCK GBP 97.890.7622WaterMid-CapUnited Kingdom
NEWMONT MINING CORP COMMON STOCK USD 1.6NEM0.7597MetalLarge-CapUnited States
MMC NORILSK NICKEL PJSC ADR USD0.7575MetalLarge-CapUnited Kingdom
VEOLIA ENVIRONNEMENT SA COMMON STOCK EUR 50.7514WaterLarge-CapFrance
AMERICAN WATER WORKS CO INC COMMON STOCK USD 0.01AWK0.7457WaterMid-CapUnited States
GAZPROM OAO ADR USD0.7197EnergyLarge-CapUnited Kingdom
UPM-KYMMENE OYJ COMMON STOCK EUR 00.6754TimberMid-CapFinland
URALKALI PJSC GDR USD0.6705AgricultureMid-CapUnited Kingdom
INCITEC PIVOT LTD COMMON STOCK AUD 0IPL0.6500AgricultureMid-CapAustralia
CANADIAN NATURAL RESOURCES LTD COMMON STOCK CAD 0CNQ0.6321EnergyLarge-CapCanada
WILMAR INTERNATIONAL LTD COMMON STOCK SGD 0F340.6044AgricultureLarge-CapSingapore
FIRST QUANTUM MINERALS LTD COMMON STOCK CAD 0FM0.5830MetalMid-CapCanada
CNOOC LTD COMMON STOCK HKD 08830.5516EnergyLarge-CapChina
NEWCREST MINING LTD COMMON STOCK AUD 0NCM0.5281MetalMid-CapAustralia
SASOL LTD COMMON STOCK ZAR 0SOL0.5271EnergyLarge-CapSouth Africa
SUMITOMO METAL MINING CO LTD COMMON STOCK JPY57130.5117MetalMid-CapJapan
TECK RESOURCES LTD COMMON STOCK CAD 0TCKB0.4918MetalMid-CapCanada
PLUM CREEK TIMBER CO INC REIT USD 0.01PCL0.4902TimberMid-CapUnited States
PETROCHINA CO LTD COMMON STOCK HKD 18570.4861EnergyLarge-CapChina
STATOIL ASA COMMON STOCK NOK 2.50.4774EnergyLarge-CapNorway
APACHE CORP COMMON STOCK USD 0.625APA0.4710EnergyLarge-CapUnited States
SUEZ ENVIRONNEMENT CO COMMON STOCK EUR 40.4684WaterMid-CapFrance
FRANCO-NEVADA CORP COMMON STOCK CAD 0FNV0.4675MetalMid-CapCanada
PIONEER NATURAL RESOURCES CO COMMON STOCK USD 0.01PXD0.4604EnergyLarge-CapUnited States
IOI CORP BHD COMMON STOCK MYR 0.119610.4557AgricultureMid-CapMalaysia
CJ CHEILJEDANG CORP COMMON STOCK KRW 5000A0979500.4526AgricultureMid-CapSouth Korea
WOODSIDE PETROLEUM LTD COMMON STOCK AUD 0WPL0.4430EnergyLarge-CapAustralia
LUKOIL OAO ADR USD 0.0250.4409EnergyLarge-CapUnited Kingdom
AGNICO EAGLE MINES LTD COMMON STOCK CAD 0AEM0.4160MetalMid-CapCanada
CHINA PETROLEUM & CHEMICAL CORP COMMON STOCK HKD 13860.4158EnergyLarge-CapChina
PENNON GROUP PLC COMMON STOCK GBP 40.70.4120WaterMid-CapUnited Kingdom
PETROLEO BRASILEIRO SA ADR USDPBR/A0.4029EnergyLarge-CapUnited States
KUALA LUMPUR KEPONG BHD COMMON STOCK MYR 124450.4014AgricultureMid-CapMalaysia
DEVON ENERGY CORP COMMON STOCK USD 0.1DVN0.4014EnergyLarge-CapUnited States
NORSK HYDRO ASA COMMON STOCK NOK 1.0980.3962MetalMid-CapNorway
ISRAEL CHEMICALS LTD COMMON STOCK ILS 1ICL0.3861AgricultureMid-CapIsrael
BOLIDEN AB COMMON STOCK SEK 2.110.3847MetalMid-CapSweden
MARATHON OIL CORP COMMON STOCK USD 1MRO0.3797EnergyLarge-CapUnited States
SILVER WHEATON CORP COMMON STOCK CAD 0SLW0.3787OtherMid-CapCanada
RANDGOLD RESOURCES LTD COMMON STOCK GBP 0.050.3751MetalMid-CapUnited Kingdom
AQUA AMERICA INC COMMON STOCK USD 0.5WTR0.3698WaterMid-CapUnited States
HESS CORP COMMON STOCK USD 1HES0.3485EnergyLarge-CapUnited States
KGHM POLSKA MIEDZ SA COMMON STOCK PLN 10KGH0.3387MetalMid-CapPoland
REPSOL SA COMMON STOCK EUR 10.3306EnergyLarge-CapSpain
GOLDEN AGRI-RESOURCES LTD COMMON STOCK SGD 0.025E5H0.3286AgricultureMid-CapSingapore
NOBLE GROUP LTD COMMON STOCK SGD 0.25N210.3156AgricultureSmall-CapSingapore
ANTOFAGASTA PLC COMMON STOCK GBP 50.3087MetalMid-CapUnited Kingdom
PPB GROUP BHD COMMON STOCK MYR 140650.3017AgricultureMid-CapMalaysia
NOBLE ENERGY INC COMMON STOCK USD 0.01NBL0.3012EnergyLarge-CapUnited States
SOUTH32 LTD COMMON STOCK AUD 0S320.2990MetalMid-CapAustralia
WEST FRASER TIMBER CO LTD COMMON STOCK CAD 0WFT0.2955TimberMid-CapCanada
SCOTTS MIRACLE-GRO CO/THE COMMON STOCK USD 0.01SMG0.2924AgricultureSmall-CapUnited States
CENOVUS ENERGY INC COMMON STOCK CAD 0CVE0.2896EnergyLarge-CapCanada
CHAROEN POKPHAND FOODS PCL NVDR THB 1CPF-R0.2822AgricultureMid-CapThailand
RAYONIER INC REIT USD 0RYN0.2807TimberSmall-CapUnited States
VEDANTA LTD ADR USDVEDL0.2762MetalMid-CapUnited States
SOUTHERN COPPER CORP COMMON STOCK USD 0.01SCCO0.2553MetalLarge-CapUnited States
ROYAL GOLD INC COMMON STOCK USD 0.01RGLD0.2246MetalMid-CapUnited States
ALUMINA LTD COMMON STOCK AUD 0AWC0.2211MetalSmall-CapAustralia
CHAROEN POKPHAND INDONESIA TBK PT COMMON STOCK IDRCPIN0.2141AgricultureSmall-CapIndonesia
KURITA WATER INDUSTRIES LTD COMMON STOCK JPY63700.1947OtherSmall-CapJapan
IMPALA PLATINUM HOLDINGS LTD COMMON STOCK ZAR 2.5IMP0.1887MetalSmall-CapSouth Africa
CIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULOSBS0.1855WaterSmall-CapUnited States
YAMANA GOLD INC COMMON STOCK CAD 0YRI0.1825MetalSmall-CapCanada
GRAINCORP LTD COMMON STOCK AUD 0GNC0.1821AgricultureSmall-CapAustralia
ELDORADO GOLD CORP COMMON STOCK CAD 0ELD0.1715MetalSmall-CapCanada
SUMITOMO FORESTRY CO LTD COMMON STOCK JPY19110.1712TimberSmall-CapJapan
SOCIEDAD QUIMICA Y MINERA DE CHILE SA ADR USD 1SQM0.1696AgricultureSmall-CapUnited States
TAIWAN FERTILIZER CO LTD COMMON STOCK TWD 1017220.1674AgricultureSmall-CapTaiwan
COSAN SA INDUSTRIA E COMERCIO COMMON STOCK BRL 0CSAN30.1646EnergySmall-CapBrazil
AGUAS ANDINAS SA COMMON STOCK CLP 0AGUAS-A0.1601WaterSmall-CapChile
LOUISIANA-PACIFIC CORP COMMON STOCK USD 1LPX0.1489TimberSmall-CapUnited States
TONGAAT HULETT LTD COMMON STOCK ZAR 100TON0.1371AgricultureSmall-CapSouth Africa
CANFOR CORP COMMON STOCK CAD 0CFP0.1349TimberSmall-CapCanada
AMERICAN STATES WATER CO COMMON STOCK USD 0AWR0.1260WaterSmall-CapUnited States
BOISE CASCADE CO COMMON STOCK USD 0.01BCC0.1029TimberSmall-CapUnited States
STELLA-JONES INC COMMON STOCK CAD 0SJ0.1026TimberSmall-CapCanada
FELDA GLOBAL VENTURES HOLDINGS BHD COMMON STOCK52220.0952AgricultureSmall-CapMalaysia
INTERFOR CORP COMMON STOCK CAD 0IFP0.0823TimberSmall-CapCanada
DURATEX SA COMMON STOCK BRL 0DTEX30.0797TimberSmall-CapBrazil
MANILA WATER CO INC COMMON STOCK PHP 1MWC0.0582WaterSmall-CapPhilippines
WESTERN FOREST PRODUCTS INC COMMON STOCK CAD 0WEF0.0549TimberSmall-CapCanada
PETROLEO BRASILEIRO SA PREFERENCE BRL 0PETR40.0493EnergyLarge-CapBrazil
INVERSIONES AGUAS METROPOLITANAS SA COMMON STOCKIAM0.0480WaterSmall-CapChile
TTW PUBLIC COMPANY LTDTTW-R0.0459WaterSmall-CapThailand
CIA DE SANEAMENTO DE MINAS GERAIS-COPASA COMMONCSMG30.0327WaterSmall-CapBrazil
SOCIEDAD QUIMICA Y MINERA DE CHILE SA PREFERENCESQM-B0.0193AgricultureSmall-CapChile
LUKOIL OAO ADR USD 0.025LUKOY0.0166EnergyLarge-CapUnited Kingdom
LONMIN PLC COMMON STOCK GBP 10.0150MetalSmall-CapUnited Kingdom
REPSOL SA RIGHT EUR0.0097EnergyMicro-CapSpain
CIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULOSBSP30.0005WaterSmall-CapBrazil
CHAROEN POKPHAND FOODS PCL FOREIGN SH. THB 1CPF-F0.0004AgricultureMid-CapThailand
CALIFORNIA RESOURCES CORP COMMON STOCK USD 0.01CRC .0000EnergySmall-CapUnited States

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/29/201512/31/201501/05/2016
12/29/201412/31/201401/05/20150.8565990000.856599
12/27/201312/31/201301/03/20140.6951890000.695189
12/27/201212/31/201201/03/20130.3679140000.367914
12/28/201112/30/201101/05/20120.0883780000.088378

The Morningstar® Global Upstream Natural Resources IndexSM measures the performance of stocks issued by companies that have significant business operations in the ownership, management and/or production of natural resources in energy, agriculture, precious or industrial metals, timber and water resources sectors as defined by Morningstar’s industry classification standards. The Morningstar index methodology uses a proprietary industry classification system to identify companies within the five natural resource categories. Individual stock weights as well as category and regional exposure are capped to provide diversified exposure. One cannot invest directly in an index.