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FlexShares Currency Hedged Morningstar® DM ex-US Factor Tilt Index Fund

Objective and Strategy

The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar® Developed Markets ex-US Factor Tilt Hedged IndexSM (Underlying Index).

Different, by Design

1. "Tilt" the portfolio to the small cap and value segments of the developed markets equity universe
2. Exposure to 97% of the investable market in 22 countries outside the US while minimizing turnover
3. Hedge currency exposure, using one-month forwards, to reduce potential volatility

Fund Facts

as of 10/16/2017
Inception11/09/2015
CUSIP33939L720
Total Net Assets$ 18,647,725.11
Shares Outstanding650,001
# of Holdings*1
Gross Expense Ratio.94%
Net Expense Ratio**.44%
Index ProviderMorningstar®
Primary ExchangeNYSE
MarginableY
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 the “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 also has contractually agreed until March 1, 2020 to waive Management Fees or reimburse certain expenses in an amount equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investments in the Underlying Fund (as defined below).

Tickers

ETF TickerTLDH
Related IndexMSEGDMHP
NAVTLDH.NV
IOPVTLDH.IV
Shares OutstandingTLDH.SO
Estimated CashTLDH.EU
Total CashTLDH.TC

Fund Characteristics1

as of 10/16/2017
SEC Subsidized Yield2 (as of  09/30/2017)2.34%
SEC Unsubsidized Yield3
 (as of 09/30/2017)
2.32%
Distribution Yield41.42%
12-Month Dividend Yield52.41%
Weighted Average Market Cap35,050,596,032.59
Price to Earnings (as of  09/30/2017)19.57
Price to Book  (as of  09/30/2017)2.43
Price to Cash Flow  (as of  09/30/2017)11.37
Price to Sales  (as of  09/30/2017)2.37
View Standardized Performance
Please click here for revised distribution yield information for the Fund from March 2016 through February 2017.

Market Cap (%)

as of 10/16/2017
Large-Cap50.65
Mid-Cap11.94
Small-Cap37.21
Micro-Cap.20
Total100.00

Style (%)

as of 10/16/2017
Value45.75
Core31.57
Growth22.68
Total100.00

SECTOR 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 11/10/2015, 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.
512-Month Dividend Yield
This yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV.

Month End Performance (%)

as of 09/30/2017
 1 MonthQTDYTD1 YearSince Inception
11/09/2015
Market Price3.665.1913.3223.0811.07
NAV2.854.4413.2023.3610.78
Morningstar® Developed Markets ex-US Factor Tilt Hedged Index (MSEGDMHN)3.224.9712.8223.5110.76
MSCI World ex USA Investable Market Index (MIMUWXUN)2.625.8619.8218.9811.10

Quarter End Performance (%)

as of 09/30/2017
 1 MonthQTDYTD1 YearSince Inception
11/09/2015
Market Price3.665.1913.3223.0811.07
NAV2.854.4413.2023.3610.78
Morningstar® Developed Markets ex-US Factor Tilt Hedged Index (MSEGDMHN)3.224.9712.8223.5110.76
MSCI World ex USA Investable Market Index (MIMUWXUN)2.625.8619.8218.9811.10
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 11/10/2015, 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.94%
Net Expense Ratio*.44%
*Northern Trust Investments, Inc. (“NTI” or the “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 also has contractually agreed until March 1, 2020 to waive Management Fees or reimburse certain expenses in an amount equal to the Acquired Fund Fees and Expenses attributable to the Fund’s investments in the Underlying Fund (as defined below).


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$28.68
Price $ Change$.10
Price % Change.35%
Avg Bid/Ask Spread$.26
Bid/Ask Midpoint$28.80
Closing Bid Price$28.67
Closing Ask Price$28.92

NAV Price

as of 10/16/2017
Price$28.69
Price $ Change$.02
Price % Change.07%

Trading

as of 10/16/2017
52-Week High$29.30
52-Week Low$23.29
Premium/Discount$.11
Daily Trading Volume (Shares)1,053
Average Trading Volume (Shares)2,227
Shares Outstanding650,001

Holdings

as of 10/16/2017
NameTickerFund
Weight %
SectorCountry
FLEXSHARES MORNINGSTAR DEVELOPED MARKETS EX-USTLTD98.5869FinancialsUNITED STATES
GBP Currency ForwardGBP.3853Cash and/or DerivativesUNITED STATES
EUR Currency ForwardEUR.3769Cash and/or DerivativesUNITED STATES
CAD Currency ForwardCAD.2362Cash and/or DerivativesUNITED STATES
JPY Currency ForwardJPY.1919Cash and/or DerivativesUNITED STATES
AUD Currency ForwardAUD.1047Cash and/or DerivativesUNITED STATES
CHF Currency ForwardCHF.0858Cash and/or DerivativesUNITED STATES
SEK Currency ForwardSEK.0540Cash and/or DerivativesUNITED STATES
DKK Currency ForwardDKK.0188Cash and/or DerivativesUNITED STATES
NOK Currency ForwardNOK.0067Cash and/or DerivativesUNITED STATES
SGD Currency ForwardSGD.0060Cash and/or DerivativesUNITED STATES
NZD Currency ForwardNZD.0041Cash and/or DerivativesUNITED STATES
EUR Currency ForwardEUR.0028Cash and/or DerivativesUNITED STATES
CAD Currency ForwardCAD.0018Cash and/or DerivativesUNITED STATES
ILS Currency ForwardILS.0003Cash and/or DerivativesUNITED STATES
DKK Currency ForwardDKK.0001Cash and/or DerivativesUNITED STATES
HKD Currency ForwardHKD.0001Cash and/or DerivativesUNITED STATES
SGD Currency ForwardSGD .0000Cash and/or DerivativesUNITED STATES
HKD Currency ForwardHKD .0000Cash and/or DerivativesUNITED STATES
ILS Currency ForwardILS .0000Cash and/or DerivativesUNITED STATES
NZD Currency ForwardNZD-.0001Cash and/or DerivativesUNITED STATES
CHF Currency ForwardCHF-.0001Cash and/or DerivativesUNITED STATES
NOK Currency ForwardNOK-.0001Cash and/or DerivativesUNITED STATES
NZD Currency ForwardNZD-.0001Cash and/or DerivativesUNITED STATES
SEK Currency ForwardSEK-.0001Cash and/or DerivativesUNITED STATES
SGD Currency ForwardSGD-.0001Cash and/or DerivativesUNITED STATES
NOK Currency ForwardNOK-.0003Cash and/or DerivativesUNITED STATES
DKK Currency ForwardDKK-.0007Cash and/or DerivativesUNITED STATES
GBP Currency ForwardGBP-.0007Cash and/or DerivativesUNITED STATES
AUD Currency ForwardAUD-.0011Cash and/or DerivativesUNITED STATES
HKD Currency ForwardHKD-.0016Cash and/or DerivativesUNITED STATES
SEK Currency ForwardSEK-.0020Cash and/or DerivativesUNITED STATES
AUD Currency ForwardAUD-.0027Cash and/or DerivativesUNITED STATES
CHF Currency ForwardCHF-.0029Cash and/or DerivativesUNITED STATES
JPY Currency ForwardJPY-.0035Cash and/or DerivativesUNITED STATES
JPY Currency ForwardJPY-.0051Cash and/or DerivativesUNITED STATES
CAD Currency ForwardCAD-.0060Cash and/or DerivativesUNITED STATES
ILS Currency ForwardILS-.0064Cash and/or DerivativesUNITED STATES
GBP Currency ForwardGBP-.0103Cash and/or DerivativesUNITED STATES
EUR Currency ForwardEUR-.0136Cash and/or DerivativesUNITED 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
09/22/201709/25/201709/28/20170.1024110000.102411
06/23/201706/27/201706/29/20170.3343520000.334352
03/24/201703/28/201703/30/20170.0505250000.050525
12/28/201612/30/201601/04/20170.2047990000.204799
09/26/201609/28/201609/30/20160.1121950000.112195
06/27/201606/29/201607/01/20160.3048010000.304801
03/28/201603/30/201604/01/20160.0727400000.072740
12/29/201512/31/201501/05/20160.6261340000.626134

The Morningstar® Developed Markets ex-US Factor Tilt Hedged IndexSM (the Currency Hedge Index) measures the performance of the Morningstar® Developed Markets ex-US Factor Tilt IndexSM (the Benchmark Index) after applying a practical hedging program, limiting the effects of currency fluctuations. Hedging each foreign currency in the portfolio, relative to an investor's home currency, is a close estimation of the return a local investor can achieve. The U.S. dollar is the default home currency for the Currency Hedge Index. The Currency Hedge Index is long the Benchmark Index and short currency forwards whose notional amount is based on market capitalization of foreign currencies in the Benchmark Index. In other words, the hedge ratio, that is, the proportion of the portfolio's currency exposure that is hedged is set to 100%.