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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 05/27/2016
Inception09/25/2012
CUSIP33939L803
Total Net Assets$ 612,274,970.07
Shares Outstanding11,000,001
# of Holdings*2,714
Gross Expense Ratio.43%
Net Expense Ratio**.42%
Index ProviderMorningstarĀ®
Primary ExchangeNYSE
Options AvailableN
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 Fund’s independent trustees and independent legal counsel until March 1, 2017.

Tickers

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

Fund Characteristics1

as of 05/27/2016
SEC Subsidized Yield2 (as of 04/30/2016)3.12%
SEC Unsubsidized Yield3
 (as of 04/30/2016)
3.12%
Distribution Yield4.32%
12-Month Dividend Yield52.86%
Weighted Average Market Cap29,640,835,768.94
Price to Earnings (as of 04/30/2016)19.20
Price to Book  (as of 04/30/2016)2.39
Price to Cash Flow  (as of 04/30/2016)11.73
Price to Sales  (as of 04/30/2016)2.26
View Standardized Performance

Market Cap (%)

as of 05/27/2016
Large-Cap47.60
Mid-Cap14.06
Small-Cap37.57
Micro-Cap.77
Total100.00

Style (%)

as of 05/27/2016
Value47.96
Core30.71
Growth21.33
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.

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 04/30/2016
 1 MonthQTDYTD1 Year3 YearSince Inception
09/25/2012
Market Price2.482.48.99-8.931.485.02
NAV3.663.662.00-7.851.975.37
Morningstar® Developed Markets ex-US Factor Tilt Index (MDXUSFTN)3.693.691.95-7.792.185.56
MSCI World ex USA Investable Market Index (MIMUWXUN)3.213.211.55-8.201.815.12

Quarter End Performance (%)

as of 03/31/2016
 1 MonthQTDYTD1 Year3 YearSince Inception
09/25/2012
Market Price7.59-1.45-1.45-7.331.894.41
NAV7.59-1.60-1.60-6.912.104.43
Morningstar® Developed Markets ex-US Factor Tilt Index (MDXUSFTN)7.52-1.67-1.67-6.852.274.61
MSCI World ex USA Investable Market Index (MIMUWXUN)7.00-1.61-1.61-7.112.194.30
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 05/27/2016
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, 2017.


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 05/27/2016
Price$55.63
Price $ Change$-.04
Price % Change-.07%
Avg Bid/Ask Spread$.15
Bid/Ask Midpoint$55.59
Closing Bid Price$55.48
Closing Ask Price$55.69

Trading

as of 05/27/2016
52-Week High$63.41
52-Week Low$47.55
Premium/Discount$-.08
Daily Trading Volume (Shares)13,202
Average Trading Volume (Shares)36,088
Shares Outstanding11,000,001

NAV Price

as of 05/27/2016
Price$55.66
Price $ Change$-.03
Price % Change-.05%

TOP TEN HOLDINGS

as of 05/27/2016
NameTickerFund
Weight %
SectorMarket CapCountry
TOYOTA MOTOR CORP COMMON STOCK JPY7203 JP0.8980Consumer DiscretionaryLarge-CapJapan
NESTLE SA COMMON STOCK CHF 0.1NESN VX0.8546Consumer StaplesLarge-CapSwitzerland
NOVARTIS AG COMMON STOCK CHF 0.5NOVN VX0.7631Health CareLarge-CapSwitzerland
HSBC HOLDINGS PLC COMMON STOCK GBP 0.5HSBA LN0.7619FinancialsLarge-CapUnited Kingdom
TOTAL SA COMMON STOCK EUR 2.5FP FP0.7521EnergyLarge-CapFrance
ROYAL DUTCH SHELL PLC COMMON STOCKRDSA LN0.7042EnergyLarge-CapUnited Kingdom
ROCHE HOLDING AG COMMON STOCK CHF 0ROG VX0.6463Health CareLarge-CapSwitzerland
ROYAL BANK OF CANADA COMMON STOCK CAD 0RY CN0.5925FinancialsLarge-CapCanada
BP PLC COMMON STOCK GBP 0.25BP/ LN0.5762EnergyLarge-CapUnited Kingdom
ROYAL DUTCH SHELL PLC COMMON STOCK GBP 0.07RDSB LN0.4992EnergyLarge-CapUnited Kingdom
ALLIANZ SE COMMON STOCK EUR 0ALV GR0.4693FinancialsLarge-CapGermany
BANCO SANTANDER SA COMMON STOCKSAN SM0.4331FinancialsLarge-CapSpain
MITSUBISHI UFJ FINANCIAL GROUP INC COMMON STOCK8306 JP0.4281FinancialsLarge-CapJapan
DAIMLER AG COMMON STOCK EUR 0DAI GR0.4229Consumer DiscretionaryLarge-CapGermany
BRITISH AMERICAN TOBACCO PLC COMMON STOCK GBP 25BATS LN0.4147Consumer StaplesLarge-CapUnited Kingdom
ANHEUSER-BUSCH INBEV SA/NV COMMON STOCK EUR 0ABI BB0.3824Consumer StaplesLarge-CapBelgium
NOVO NORDISK A/S COMMON STOCK DKK 0.2NOVOB DC0.3815Health CareLarge-CapDenmark
LLOYDS BANKING GROUP PLC COMMON STOCK GBP 10LLOY LN0.3701FinancialsLarge-CapUnited Kingdom
AUSTRALIA & NEW ZEALAND BANKING GROUP LTD COMMONANZ AU0.3561FinancialsLarge-CapAustralia
GLAXOSMITHKLINE PLC COMMON STOCK GBP 25GSK LN0.3498Health CareLarge-CapUnited Kingdom
BANK OF NOVA SCOTIA/THE COMMON STOCK CAD 0BNS CN0.3412FinancialsLarge-CapCanada
BNP PARIBAS SA COMMON STOCK EUR 2BNP FP0.3410FinancialsLarge-CapFrance
SANOFI COMMON STOCK EUR 2SAN FP0.3379Health CareLarge-CapFrance
COMMONWEALTH BANK OF AUSTRALIA COMMON STOCK AUD 0CBA AU0.3353FinancialsLarge-CapAustralia
STADA ARZNEIMITTEL AG COMMON STOCK EUR 0SAZ GR0.3248Health CareMid-CapGermany
NATIONAL AUSTRALIA BANK LTD COMMON STOCK AUD 0NAB AU0.3196FinancialsLarge-CapAustralia
AXA SA COMMON STOCK EUR 2.29CS FP0.3120FinancialsLarge-CapFrance
SIEMENS AG COMMON STOCK EUR 0SIE GR0.3101IndustrialsLarge-CapGermany
VODAFONE GROUP PLC COMMON STOCK GBP 0.2095VOD LN0.2999Telecommunication ServicesLarge-CapUnited Kingdom
HONDA MOTOR CO LTD COMMON STOCK JPY7267 JP0.2960Consumer DiscretionaryLarge-CapJapan
ING GROEP NV DUTCH CERT EUR 0.24INGA NA0.2935FinancialsLarge-CapNetherlands
UNILEVER NV DUTCH CERT EUR 0.16UNA NA0.2807Consumer StaplesLarge-CapNetherlands
SAP SE COMMON STOCK EUR 0SAP GR0.2777Information TechnologyLarge-CapGermany
BAYER AGBAYN GR0.2762Health CareLarge-CapGermany
SUMITOMO MITSUI FINANCIAL GROUP INC COMMON STOCK8316 JP0.2735FinancialsLarge-CapJapan
BANCO BILBAO VIZCAYA ARGENTARIA SA COMMON STOCKBBVA SM0.2683FinancialsLarge-CapSpain
TORONTO-DOMINION BANK/THE COMMON STOCK CAD 0TD CN0.2679FinancialsLarge-CapCanada
ASTRAZENECA PLC COMMON STOCK GBP 0.25AZN LN0.2653Health CareLarge-CapUnited Kingdom
ORANGE SA COMMON STOCK EUR 4ORA FP0.2575Telecommunication ServicesLarge-CapFrance
AIA GROUP LTD COMMON STOCK HKD 01299 HK0.2564FinancialsLarge-CapHong Kong
BARCLAYS PLC COMMON STOCK GBP 25BARC LN0.2495FinancialsLarge-CapUnited Kingdom
WESTPAC BANKING CORP COMMON STOCK AUD 0WBC AU0.2480FinancialsLarge-CapAustralia
RECKITT BENCKISER GROUP PLC COMMON STOCK GBP 10RB/ LN0.2476Consumer StaplesLarge-CapUnited Kingdom
BANK OF MONTREAL COMMON STOCK CAD 0BMO CN0.2413FinancialsLarge-CapCanada
MIZUHO FINANCIAL GROUP INC COMMON STOCK JPY8411 JP0.2337FinancialsLarge-CapJapan
BASF SE COMMON STOCK EUR 0BAS GR0.2317MaterialsLarge-CapGermany
NATIONAL GRID PLC COMMON STOCK GBP 11.39535NG/ LN0.2291UtilitiesLarge-CapUnited Kingdom
DELTA LLOYD NV COMMON STOCK EUR 0.2DL NA0.2228FinancialsSmall-CapNetherlands
SABMILLER PLC COMMON STOCK GBP 0.1SAB LN0.2208Consumer StaplesLarge-CapUnited Kingdom
DIAGEO PLC COMMON STOCK GBP 28.93518DGE LN0.2192Consumer StaplesLarge-CapUnited Kingdom
 

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
03/21/201603/23/201603/28/20160.1788480000.178848
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.