KEAT vs. BNDC ETF Comparison

Comparison of Keating Active ETF (KEAT) to FlexShares Core Select Bond Fund (BNDC)

KEAT

Keating Active ETF

KEAT Description

KEAT actively invests in equity securities of all-cap companies considered undervalued based on the subadvisor's fundamental research. These securities include common stock, preferred stock, REITs, ADRs, and GDRs. The fund also considers and invests in international ETFs in the same manner it selects its individual securities. The sub-adviser initially identifies potential investment opportunities through public disclosures, and assesses their financial condition based on sustainable earnings and future cash flows through financial and strategic analyses. The portfolio will typically be comprised of 25 to 40 securities, all selected to offer exceptional value and have defensible positions. The fund also emphasizes companies with good shareholder yield. It intends to hold its positions for a year or more and sells them when it reaches its fair value or has become overvalued. KEAT may also hold short-term Treasurys in seeking total return.

Grade (RS Rating)

Last Trade

$26.27

Average Daily Volume

4,302

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

BNDC

FlexShares Core Select Bond Fund

BNDC Description

The investment seeks total return and preservation of capital. The fund invests at least 80% of its net assets in U.S. dollar-denominated investment-grade fixed-income securities either directly or indirectly through exchange-traded funds and other registered investment companies. The fund may invest, without limitation, in mortgage- or asset-backed securities, including to-be-announced transactions, and purchase and sell securities on a when-issued, delayed delivery or forward commitment basis.

Grade (RS Rating)

Last Trade

$22.34

Average Daily Volume

13,418

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

Performance

Period	KEAT	BNDC
30 Days	5.57%	2.91%
60 Days	3.53%	3.05%
90 Days	5.75%	3.98%
12 Months		4.79%

0 Overlapping Holdings

	Symbol	Grade	Weight in KEAT	Weight in BNDC	Overlap

KEAT Overweight 8 Positions Relative to BNDC

	Symbol	Grade	Weight
	STIP	A	29.63%
	GOLD	C	3.85%
	EQC	B	3.63%
	OII	A	3.52%
	LBTYK	C	3.5%
	VOD	A	3.32%
	TTE	D	3.3%
	LMT	A	2.97%

KEAT Underweight 9 Positions Relative to BNDC

	Symbol	Grade	Weight
	MBB	A	-24.36%
	MBSD	A	-12.48%
	IEI	A	-11.95%
	SKOR	A	-9.39%
	IEF	A	-5.74%
	RAVI	A	-4.71%
	SHY	B	-3.36%
	TDTT	A	-2.02%
	LKOR	A	-0.49%

KEAT: Top Represented Industries & Keywords

Industries: Aerospace & Defense Gold Oil & Gas Equipment & Services Oil & Gas Integrated Pay TV REIT - Office Telecom Services

Keywords: Information And Communications Technology Adhesives Aerospace Aerospace Industries Air Systems Aircraft Asset Integrity Management Aviation B2B Bloomberg Barclays Us Aggregate Bond Index Bond Bond Market Broadband Broadband Internet Broadcast Solutions Cable Television Companies Cac 40 Channel Operators Chemicals Segment Cloud Computing

BNDC: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Bond Market U.S. Treasury Bloomberg Barclays Us Aggregate Bond Index Bond Fund Government Bonds U.S. Government Yield Collateralized Debt Obligation Corporate Bond Mortgage Backed Security Northern Trust Structured Finance Credit Rating Agencies Debt Securities Fannie Mae Federal Home Loan Mortgage Corporation Federal National Mortgage Association