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FlexShares Currency Hedged Morningstar EM 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® Emerging Markets Factor Tilt Hedged IndexSM (Underlying Index).

Different, by Design

1. "Tilt" the portfolio to the small cap and value segments of emerging markets equity universe
2. Exposure to 97% of the investable market in 23 countries outside the US while minimizing turnover
3. Hedge currency exposure, using one-month forwards, to reduce potential volatility

Fund Facts

as of 01/20/2017
Inception11/09/2015
CUSIP33939L712
Total Net Assets$ 34,388,785.99
Shares Outstanding1,325,001
# of Holdings*1
Gross Expense Ratio1.24%
Net Expense Ratio**.64%
Index ProviderMorningstarĀ®
Primary ExchangeNYSE
MarginableY
Derivative UseY
*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 Trust's independent trustees and their independent legal counsel until March 1, 2017. 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 TickerTLEH
Related IndexMSEGEMHP
NAVTLEH.NV
IOPVTLEH.IV
Shares OutstandingTLEH.SO
Estimated CashTLEH.EU
Total CashTLEH.TC

Fund Characteristics1

as of 01/20/2017
SEC Subsidized Yield2 (as of  12/31/2016)2.25%
SEC Unsubsidized Yield3
 (as of 12/31/2016)
2.24%
Distribution Yield4.67%
12-Month Dividend Yield52.20%
Weighted Average Market Cap27,870,531,105.05
Price to Earnings (as of  12/31/2016)17.40
Price to Book  (as of  12/31/2016)2.12
Price to Cash Flow  (as of  12/31/2016)11.16
Price to Sales  (as of  12/31/2016)2.73
View Standardized Performance

Market Cap (%)

as of 01/20/2017
Large-Cap37.09
Mid-Cap17.74
Small-Cap38.72
Micro-Cap6.45
Total100.00

Style (%)

as of 01/19/2017
Value57.81
Core25.10
Growth17.09
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

1All Fund Characteristics terms are defined in the glossary.
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 and any capital gain distributions made over the past twelve months.

Month End Performance (%)

as of 12/31/2016
 1 MonthQTDYTD1 YearSince Inception
11/09/2015
Market Price-.21-1.649.209.205.41
NAV-.13-1.759.389.385.45
MorningstarĀ® Emerging Markets Factor Tilt Hedged Index (MSEGEMHN).21-.159.749.745.80
MSCI Emerging Markets Investable Market Index (MIMUEMRN).17-4.459.909.904.42

Quarter End Performance (%)

as of 12/31/2016
 1 MonthQTDYTD1 YearSince Inception
11/09/2015
Market Price-.21-1.649.209.205.41
NAV-.13-1.759.389.385.45
MorningstarĀ® Emerging Markets Factor Tilt Hedged Index (MSEGEMHN).21-.159.749.745.80
MSCI Emerging Markets Investable Market Index (MIMUEMRN).17-4.459.909.904.42
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 01/20/2017
Gross Expense Ratio1.24%
Net Expense Ratio*.64%
*NTI has contractually agreed to reimburse the fees and expenses of the Trust's independent trustees and their independent legal counsel until March 1, 2017. 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 01/20/2017
Price$26.14
Price $ Change$.27
Price % Change1.04%
Avg Bid/Ask Spread$.14
Bid/Ask Midpoint$25.97
Closing Bid Price$25.90
Closing Ask Price$26.03

NAV Price

as of 01/20/2017
Price$25.95
Price $ Change$ .00
Price % Change .00%

Trading

as of 01/20/2017
52-Week High$27.56
52-Week Low$20.35
Premium/Discount$.01
Daily Trading Volume (Shares)8,582
Average Trading Volume (Shares)6,392
Shares Outstanding1,325,001

Holdings

as of 01/20/2017
NameTickerFund
Weight %
SectorCountry
FLEXSHARES MORNINGSTAR EMERGING MARKETS FACTORTLTE101.3213FinancialsUNITED STATES
MXN Currency ForwardMXN.1174Cash and/or DerivativesUNITED STATES
TRY Currency ForwardTRY.1052Cash and/or DerivativesUNITED STATES
INR Currency ForwardINR.0086Cash and/or DerivativesUNITED STATES
EUR Currency ForwardEUR-.0100Cash and/or DerivativesUNITED STATES
PHP Currency ForwardPHP-.0118Cash and/or DerivativesUNITED STATES
IDR Currency ForwardIDR-.0178Cash and/or DerivativesUNITED STATES
MYR Currency ForwardMYR-.0218Cash and/or DerivativesUNITED STATES
HKD Currency ForwardHKD-.0260Cash and/or DerivativesUNITED STATES
CLP Currency ForwardCLP-.0309Cash and/or DerivativesUNITED STATES
THB Currency ForwardTHB-.0310Cash and/or DerivativesUNITED STATES
PLN Currency ForwardPLN-.0475Cash and/or DerivativesUNITED STATES
RUB Currency ForwardRUB-.1795Cash and/or DerivativesUNITED STATES
TWD Currency ForwardTWD-.2253Cash and/or DerivativesUNITED STATES
ZAR Currency ForwardZAR-.2385Cash and/or DerivativesUNITED STATES
KRW Currency ForwardKRW-.2525Cash and/or DerivativesUNITED STATES
BRL Currency ForwardBRL-.4566Cash and/or DerivativesUNITED STATES

DISTRIBUTION SCHEDULE

View by year:
Ex-DateRecord DatePayable DateIncomeShort-Term
Capital Gains
Long-Term
Capital Gains
Return of CapitalTotal Distribution
12/27/201712/29/201701/03/2018
09/22/201709/26/201709/28/2017
06/23/201706/27/201706/29/2017
03/24/201703/28/201703/30/2017
12/28/201612/30/201601/04/20170.1749020000.174902
09/26/201609/28/201609/30/20160.2348960000.234896
06/27/201606/29/201607/01/20160.1396700000.139670
03/28/201603/30/201604/01/20160.0217330000.021733
12/29/201512/31/201501/05/20160.4782160000.478216

The Morningstar® Emerging Markets Factor Tilt Hedged IndexSM (the Currency Hedge Index) measures the performance of the Morningstar® Emerging Markets 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%.