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FlexShares Core Select Bond Fund

Objective and Strategy

FlexShares Core Select Bond Fund (BNDC) seeks total return and preservation of capital.

Different, by Design

1. Construct a fixed income portfolio, based on Northern Trust's forecast, implementing active top‚Äźdown decisions primarily using passively managed, rules based fixed income sector ETFs.
2. Actively manage portfolio adjusting to potential changes in interest rate levels, the shape of the yield curve and credit spread relationships while emphasizing liquidity and diversification.

Fund Facts

as of 10/16/2017
Inception11/18/2016
CUSIP33939L670
Total Net Assets$ 3,141,476.42
Shares Outstanding125,001
# of Holdings*11
Gross Expense Ratio.55%
Net Expense Ratio**.35%
Primary ExchangeNYSE
MarginableN
Derivative UseY
*Cash positions and derivatives such as futures and currency forwards are not included in the number of holdings.

**Northern Trust Investments, Inc. (“NTI” or “Investment Adviser”)has contractually agreed to reimburse the fees and expenses of the Trust’s independent trustees and their independent legal counsel until March 1, 2018. NTI has also contractually agreed to waive Management Fees or reimburse certain expenses in an amount equal to the sum of (a) any Acquired Fund Fees and Expenses, if any, incurred by the Fund that are attributable to the Fund’s investment in Acquired Funds managed by NTI or an investment adviser controlling, controlled by, or under common control with NTI (“Affiliated Funds”); and (b) 0.05% or such lesser amount in Acquired Fund Fees and Expenses incurred by the Fund that are attributable to the Fund’s investment in Acquired Funds that are not Affiliated Funds, until March 1, 2018.

Tickers

ETF TickerBNDC
NAVBNDC.NV
IOPVBNDC.IV
Shares OutstandingBNDC.SO
Estimated CashBNDC.EU
Total CashBNDC.TC

Fund Characteristics1

as of 10/13/2017
SEC Subsidized Yield2 (as of 09/30/2017)3.03%
SEC Unsubsidized Yield3
 (as of 09/30/2017)
2.95%
Distribution Yield42.46%
Weighted Avg Price46.20
Weighted Avg Yield to Worst2.88
Weighted Avg Yield to Maturity2.88%
Weighted Avg Effective Duration6.43
Weighted Avg Option Adjusted Spread66.30
View Standardized Performance
.

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 11/21/2016, 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.

Definitions

1Glossary contains definitions of widely used investment terms found on this page.
2SEC 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.
3SEC 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.
4Distribution 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.

Month End Performance (%)

as of 09/30/2017
 1 MonthQTDYTDSince Inception
11/18/2016
Market Price-.18.813.182.60
NAV-.22.773.222.56
Bloomberg Barclays Aggregate Bond index (LBUSTRUU)-.48.853.143.25

Quarter End Performance (%)

as of 09/30/2017
 1 MonthQTDYTDSince Inception
11/18/2016
Market Price-.18.813.182.60
NAV-.22.773.222.56
Bloomberg Barclays Aggregate Bond index (LBUSTRUU)-.48.853.143.25
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 11/21/2016, 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 10/16/2017
Gross Expense Ratio.55%
Net Expense Ratio*.35%
*Northern Trust Investments, Inc. (“NTI” or “Investment Adviser”)has contractually agreed to reimburse the fees and expenses of the Trust’s independent trustees and their independent legal counsel until March 1, 2018. NTI has also contractually agreed to waive Management Fees or reimburse certain expenses in an amount equal to the sum of (a) any Acquired Fund Fees and Expenses, if any, incurred by the Fund that are attributable to the Fund’s investment in Acquired Funds managed by NTI or an investment adviser controlling, controlled by, or under common control with NTI (“Affiliated Funds”); and (b) 0.05% or such lesser amount in Acquired Fund Fees and Expenses incurred by the Fund that are attributable to the Fund’s investment in Acquired Funds that are not Affiliated Funds, until March 1, 2018.


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 10/16/2017
Price$25.21
Price $ Change$.03
Price % Change.12%
Avg Bid/Ask Spread$.27
Bid/Ask Midpoint$25.11
Closing Bid Price$24.97
Closing Ask Price$25.25

NAV Price

as of 10/16/2017
Price$25.13
Price $ Change$-.08
Price % Change-.32%

Trading

as of 10/16/2017
52-Week High$25.53
52-Week Low$24.53
Premium/Discount$-.02
Daily Trading Volume (Shares)998
Average Trading Volume (Shares)1,544
Shares Outstanding125,001

Holdings

as of 10/13/2017
NameTickerCUSIPMarket ValueFund
Weight %
Country
FLEXSHARES CREDIT SCORED US CORPORSKOR33939L7611,179,310.9737.5769United States
FLEXSHARES DISCIPLINED DURATION MBMBSD33939L7791,077,954.8034.3473United States
FLEXSHARES CREDIT SCORED-LONGLKOR33939L753497,819.2815.8622United States
ISHARES 7-10 YEAR TREASURY BOND ETIEF464287440136,032.784.3345United States
FLEXSHARES IBOXX® 5-YEAR TARGET DURTDTF33939L605118,085.873.7626United States
TREASURY BONDTBOND912810RY649,608.661.5807United States
ISHARES 20+ YEAR TREASURY BOND ETFTLT46428743242,159.751.3434United States
TREASURY BILLTBILL912796LZ019,994.00.6371United States
ISHARES 3-7 YEAR TREASURY BOND ETFIEI46428866117,427.60.5553United States
US 10YR NOTE DEC 17TYZ7TYZ720174 .00 .0000United States
US 5YR NOTE DEC 17FVZ7FVZ720175 .00 .0000United States

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/27/201712/28/201701/03/2018
12/07/201712/08/201712/13/2017
11/07/201711/08/201711/13/2017
10/06/201710/09/201710/13/2017
10/06/201710/10/201710/13/20170.0525390000.052539
09/08/201709/11/201709/14/20170.0544830000.054483
08/07/201708/09/201708/11/20170.0553940000.055394
07/10/201707/12/201707/14/20170.0535310000.053531
06/07/201706/09/201706/13/20170.0509470000.050947
05/05/201705/09/201705/11/20170.0534010000.053401
04/07/201704/11/201704/13/20170.0572690000.057269
03/07/201703/09/201703/13/20170.0433350000.043335
02/07/201702/09/201702/13/20170.0423550000.042355
12/28/201612/30/201601/04/20170.1592230000.159223