AVSE vs. TLTE ETF Comparison

Comparison of Avantis Responsible Emerging Markets Equity ETF (AVSE) to FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE)

AVSE

Avantis Responsible Emerging Markets Equity ETF

AVSE Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of companies related to emerging markets across market sectors, industry groups and countries. The fund may invest in companies of all market capitalizations. The portfolio management team limits its investable universe of companies by screening out those that raise concerns based on the team?s evaluation of multiple ESG metrics.

Grade (RS Rating)

Last Trade

$52.28

Average Daily Volume

3,334

Number of Holdings ^*

* may have additional holdings in another (foreign) market

TLTE

FlexShares Morningstar Emerging Markets Factor Tilt Index Fund

TLTE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MorningstarÂ® Emerging Markets Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index reflects the performance of a selection of equity securities designed to provide broad exposure to the global emerging equities markets, with increased exposure (or a "tilt") to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$53.59

Average Daily Volume

4,143

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AVSE	TLTE
30 Days	-4.16%	-4.32%
60 Days	-1.36%	-1.63%
90 Days	-1.56%	-1.73%
12 Months	15.31%	11.46%

43 Overlapping Holdings

Symbol	Grade	Weight in AVSE	Weight in TLTE	Overlap
ABEV	F	0.08%	0.07%	0.07%
AKO.A	F	0.04%	0.01%	0.01%
ASAI	F	0.08%	0.05%	0.05%
ASAI	F	0.04%	0.05%	0.04%
ATHM	C	0.06%	0.01%	0.01%
BABA	D	1.8%	1.98%	1.8%
BAP	A	0.18%	0.13%	0.13%
BCH	C	0.08%	0.05%	0.05%
BEKE	D	0.17%	0.09%	0.09%
BEKE	D	0.17%	0.03%	0.03%
BGNE	D	0.05%	0.08%	0.05%
BGNE	D	0.03%	0.08%	0.03%
BIDU	F	0.05%	0.26%	0.05%
BILI	D	0.0%	0.03%	0.0%
CAR	C	0.08%	0.01%	0.01%
CHT	C	0.06%	0.11%	0.06%
HDB	C	0.56%	0.83%	0.56%
IBN	C	0.48%	0.57%	0.48%
IFS	A	0.04%	0.01%	0.01%
IMOS	F	0.03%	0.01%	0.01%
IQ	F	0.06%	0.01%	0.01%
KB	B	0.48%	0.26%	0.26%
LI	F	0.29%	0.1%	0.1%
LPL	D	0.09%	0.02%	0.02%
MNSO	D	0.06%	0.02%	0.02%
MOMO	D	0.04%	0.12%	0.04%
NIO	F	0.02%	0.05%	0.02%
PDD	F	0.71%	0.55%	0.55%
SBSW	D	0.07%	0.03%	0.03%
SGRP	D	0.04%	0.16%	0.04%
SHG	C	0.38%	0.2%	0.2%
SKM	C	0.07%	0.04%	0.04%
TAL	F	0.0%	0.03%	0.0%
TCOM	B	0.27%	0.26%	0.26%
TME	D	0.08%	0.02%	0.02%
TME	D	0.08%	0.03%	0.03%
UMC	F	0.24%	0.18%	0.18%
VIPS	F	0.23%	0.05%	0.05%
WB	D	0.02%	0.1%	0.02%
WIT	B	0.07%	0.07%	0.07%
XPEV	C	0.01%	0.07%	0.01%
YUMC	C	0.41%	0.13%	0.13%
YY	B	0.04%	0.01%	0.01%

AVSE Overweight 48 Positions Relative to TLTE

Symbol	Grade	Weight
TSM	B	5.9%
INFY	C	0.76%
NTES	C	0.51%
ITUB	F	0.34%
CPNG	D	0.28%
HTHT	D	0.25%
ASX	D	0.22%
ZTO	F	0.2%
GFI	D	0.17%
BBD	D	0.16%
PAC	B	0.16%
SUZ	B	0.14%
TLK	D	0.13%
STNE	F	0.13%
CIG	B	0.12%
SBS	B	0.11%
FMX	F	0.1%
QFIN	A	0.09%
OMAB	D	0.09%
RDY	F	0.09%
EBR	F	0.08%
ASR	D	0.07%
VIV	F	0.06%
TKC	B	0.06%
KT	A	0.05%
SCCO	F	0.05%
TV	F	0.05%
CIB	B	0.04%
PAGS	F	0.04%
BSAC	C	0.04%
ELP	F	0.04%
LX	B	0.03%
NOAH	D	0.03%
SOHU	F	0.03%
PHI	D	0.03%
SQM	D	0.03%
VNET	B	0.02%
BSBR	F	0.02%
CCU	D	0.02%
PDSB	F	0.01%
BZ	F	0.01%
NIU	F	0.0%
DAO	B	0.0%
TIGR	D	0.0%
TUYA	D	0.0%
CANG	B	0.0%
API	B	0.0%
CAAS	C	0.0%

AVSE Underweight 14 Positions Relative to TLTE

Symbol	Grade	Weight
VALE	F	-0.38%
DQ	F	-0.13%
FINV	B	-0.11%
GGB	C	-0.05%
ERJ	A	-0.05%
KEP	B	-0.04%
VIST	B	-0.04%
YMM	C	-0.04%
CSAN	F	-0.03%
GDS	C	-0.03%
BRFS	C	-0.03%
ATAT	C	-0.02%
EH	D	-0.01%
RLX	C	-0.01%