CWI vs. TLTD ETF Comparison

Comparison of SPDR MSCI ACWI ex-US ETF (CWI) to FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund (TLTD)

CWI

SPDR MSCI ACWI ex-US ETF

CWI Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of an index. The fund employs a sampling strategy in seeking to track the performance of the MSCI All Country World Index ex USA. It invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in ADRs or GDRs based on securities comprising the index. The index is a float-adjusted market capitalization index that is designed to measure the combined equity market performance of developed and emerging market countries excluding the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$29.29

Average Daily Volume

166,636

Number of Holdings ^*

88

* may have additional holdings in another (foreign) market

TLTD

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

TLTD Description

The investment seeks investment results that correspond generally to the price and yield performance of the Morningstar® Developed Markets ex-US Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of 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 developed equities markets, excluding the U.S., with increased exposure to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$73.39

Average Daily Volume

11,764

Number of Holdings ^*

47

* may have additional holdings in another (foreign) market

Performance

Period	CWI	TLTD
30 Days	-0.29%	0.65%
60 Days	2.20%	2.24%
90 Days	3.30%	4.81%
12 Months	17.28%	16.88%

24 Overlapping Holdings

	Symbol	Grade	Weight in CWI	Weight in TLTD	Overlap
	ABBV	C	0.43%	0.24%	0.24%
	AGCO	D	0.04%	0.03%	0.03%
	BCS	B	0.18%	0.17%	0.17%
	CNI	D	0.33%	0.17%	0.17%
	DEO	C	0.29%	0.19%	0.19%
	E	C	0.16%	0.14%	0.14%
	HMC	D	0.18%	0.19%	0.18%
	LOGI	D	0.03%	0.04%	0.03%
	LYG	B	0.17%	0.19%	0.17%
	MBAVU	C	0.01%	0.01%	0.01%
	MFG	D	0.13%	0.19%	0.13%
	MUFG	D	0.44%	0.34%	0.34%
	NMR	F	0.07%	0.04%	0.04%
	NVS	C	0.89%	0.64%	0.64%
	OTEX	D	0.04%	0.03%	0.03%
	QGEN	B	0.0%	0.03%	0.0%
	RBA	C	0.04%	0.04%	0.04%
	SHOP	C	0.32%	0.24%	0.24%
	SMFG	D	0.24%	0.24%	0.24%
	SONY	D	0.46%	0.29%	0.29%
	STLA	F	0.12%	0.12%	0.12%
	TD	A	0.47%	0.42%	0.42%
	TM	F	0.68%	0.8%	0.68%
	UL	C	0.61%	0.45%	0.45%

CWI Overweight 64 Positions Relative to TLTD

	Symbol	Grade	Weight
	TSM	D	2.74%
	BABA	C	0.54%
	INFY	C	0.34%
	IBN	A	0.27%
	PDD	F	0.24%
	HDB	C	0.24%
	ITUB	B	0.16%
	VALE	D	0.13%
	UMC	C	0.12%
	CHT	A	0.11%
	KB	D	0.1%
	SE	B	0.1%
	RDY	D	0.09%
	SHG	C	0.09%
	BIDU	F	0.09%
	TCOM	C	0.09%
	TEVA	C	0.08%
	PKX	D	0.08%
	BABA	C	0.08%
	BBD	C	0.08%
	CHKP	C	0.07%
	BAP	A	0.07%
	ABEV	C	0.06%
	BGNE	C	0.05%
	CIB	F	0.05%
	YUMC	D	0.05%
	BEKE	F	0.04%
	MT	D	0.04%
	CYBR	D	0.04%
	XRX	F	0.04%
	ENIC	D	0.04%
	LI	D	0.04%
	CIG	B	0.04%
	VIPS	F	0.03%
	SQM	F	0.03%
	MNDY	B	0.03%
	AER	C	0.03%
	TME	F	0.03%
	CSAN	F	0.03%
	NIO	D	0.03%
	WIX	D	0.03%
	WIT	C	0.03%
	BILI	D	0.02%
	TAL	F	0.02%
	SID	D	0.02%
	BRFS	C	0.02%
	LEGN	F	0.02%
	HTHT	F	0.02%
	GRAB	B	0.02%
	KEP	C	0.02%
	PHI	C	0.02%
	GGB	C	0.02%
	VALE	D	0.01%
	SBSW	F	0.01%
	GLBE	C	0.01%
	ATHM	C	0.01%
	XPEV	D	0.01%
	XPEV	D	0.01%
	BZ	F	0.01%
	FUTU	D	0.01%
	QFIN	B	0.01%
	BVN	D	0.01%
	SCCO	D	0.0%
	IQ	F	0.0%

CWI Underweight 23 Positions Relative to TLTD

	Symbol	Grade	Weight
	DOOO	F	-0.15%
	WCN	D	-0.13%
	FLUT	B	-0.1%
	GOLD	B	-0.09%
	PDS	D	-0.06%
	PRMW	A	-0.04%
	CCEP	B	-0.04%
	ECO	B	-0.03%
	IAG	B	-0.03%
	BBUC	C	-0.03%
	DNN	F	-0.02%
	AEI	D	-0.02%
	WFG	B	-0.02%
	ELBM	C	-0.01%
	FLNG	C	-0.01%
	MNTX	D	-0.01%
	TRMD	C	-0.01%
	ORLA	C	-0.01%
	GOGL	D	-0.01%
	HAFN	D	-0.01%
	TAC	B	-0.01%
	LSPD	D	-0.01%
	RENB	F	-0.0%

CWI: Top Represented Industries & Keywords

Industries: Auto Manufacturers Internet Content & Information Banks - Regional - Asia Software - Application Banks - Global Banks - Regional - Latin America Steel Information Technology Services Specialty Retail Biotechnology Capital Markets Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Industrial Metals & Minerals Semiconductors Telecom Services Utilities - Regulated Electric Airports & Air Services Banks - Regional - Europe Beverages - Brewers

Keywords: Banking Bank Investment Banking Financial Products Investment Banking Services Cash Management Investment Bank Investment Product Telecommunications Transport Asset Management Asset Management Services Cars Commercial Banking Currency Insurance Products Mining Pharmaceutical Structured Finance Cash Management Services

TLTD: Top Represented Industries & Keywords

Industries: Banks - Global Auto Manufacturers Gold Software - Application Beverages - Soft Drinks Drug Manufacturers - Major Marine Shipping Shipping & Ports Asset Management Banks - Regional - Asia Banks - Regional - Europe Beverages - Wineries & Distilleries Biotechnology Business Services Capital Markets Computer Systems Consumer Electronics Diagnostics & Research Diversified Industrials Farm & Construction Equipment

Keywords: Bank Banking Financial Products Investment Banking Mining Insurance Products Investment Banking Services Advisory Services Asset Management Biotechnology Cars Commercial Banking Corporate Banking Drink Fax Gas Exploration Investment Bank Investment Product Natural Gas Natural Gas Exploration