NFRA vs. USMV ETF Comparison

Comparison of FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) to iShares MSCI USA Minimum Volatility ETF (USMV)

NFRA

FlexShares STOXX Global Broad Infrastructure Index Fund

NFRA Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the STOXXÂ® Global Broad Infrastructure Index. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index and in American Depositary Receipts and Global Depositary Receipts based on the securities in its underlying index. The underlying index reflects the performance of a selection of equity securities of infrastructure-related companies that are domiciled or traded in developed and emerging markets around the world. It is non-diversified.

Grade (RS Rating)

Last Trade

$59.38

Average Daily Volume

108,426

Number of Holdings ^*

* may have additional holdings in another (foreign) market

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$91.15

Average Daily Volume

2,261,365

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	NFRA	USMV
30 Days	2.74%	0.26%
60 Days	7.65%	5.37%
90 Days	11.13%	9.17%
12 Months	28.83%	29.05%

15 Overlapping Holdings

Symbol	Grade	Weight in NFRA	Weight in USMV	Overlap
AEP	B	0.81%	0.41%	0.41%
CMCSA	B	2.39%	0.38%	0.38%
D	A	0.71%	0.23%	0.23%
DUK	B	1.34%	1.53%	1.34%
ED	A	0.54%	1.2%	0.54%
RSG	D	0.6%	1.5%	0.6%
SO	A	1.47%	1.38%	1.38%
T	A	2.33%	0.71%	0.71%
TMUS	A	1.51%	1.69%	1.51%
VZ	A	2.81%	1.44%	1.44%
WCN	D	2.33%	1.49%	1.49%
WEC	A	0.45%	0.74%	0.45%
WM	D	1.12%	1.37%	1.12%
WMB	A	0.82%	0.24%	0.24%
XEL	A	0.53%	0.43%	0.43%

NFRA Overweight 49 Positions Relative to USMV

Symbol	Grade	Weight
CNI	D	3.43%
NEE	A	2.59%
UNP	C	2.22%
AMT	C	1.6%
EQIX	B	1.25%
CEG	B	1.19%
HCA	A	1.14%
CSX	D	1.0%
NSC	B	0.83%
OKE	C	0.79%
SRE	A	0.79%
PCG	B	0.77%
CCI	A	0.75%
DLR	C	0.75%
PEG	A	0.65%
KMI	A	0.64%
EXC	A	0.61%
EIX	A	0.5%
TRGP	C	0.48%
CHTR	D	0.47%
AWK	C	0.42%
VLTO	C	0.4%
SBAC	B	0.38%
THC	C	0.24%
UHS	D	0.19%
CLH	C	0.18%
WTRG	D	0.15%
EHC	B	0.14%
LBRDK	C	0.14%
FYBR	C	0.13%
DTM	A	0.11%
CWST	D	0.09%
ACHC	F	0.09%
AM	A	0.08%
SRCL	B	0.08%
SEM	D	0.06%
AWR	B	0.05%
HESM	D	0.05%
CWT	D	0.05%
CCOI	B	0.05%
IRDM	C	0.05%
GEO	F	0.03%
SJW	D	0.03%
FSLY	D	0.02%
MSEX	C	0.02%
UNIT	C	0.02%
PCT	C	0.02%
CXW	F	0.02%
NFE	F	0.01%

NFRA Underweight 155 Positions Relative to USMV

Symbol	Grade	Weight
IBM	C	-1.75%
PGR	C	-1.68%
MSI	A	-1.67%
WMT	A	-1.66%
LLY	D	-1.58%
NOC	B	-1.54%
BRK.A	C	-1.51%
CB	A	-1.5%
TXN	C	-1.42%
MSFT	C	-1.38%
CSCO	A	-1.35%
UNH	B	-1.34%
APH	D	-1.34%
ROP	C	-1.31%
MCD	A	-1.29%
JNJ	C	-1.26%
AVGO	C	-1.26%
PG	C	-1.25%
ACN	B	-1.24%
MRK	F	-1.21%
ABBV	A	-1.21%
AJG	D	-1.21%
ORCL	C	-1.15%
MMC	D	-1.12%
PEP	D	-1.1%
MCK	F	-1.06%
TRV	C	-1.05%
AAPL	C	-0.99%
AZO	D	-0.96%
LMT	A	-0.9%
GILD	A	-0.9%
CBOE	B	-0.86%
GDDY	D	-0.84%
REGN	D	-0.83%
K	B	-0.81%
ACGL	A	-0.81%
V	C	-0.78%
GIS	B	-0.77%
CTSH	C	-0.76%
EA	D	-0.76%
FCNCA	D	-0.74%
VRTX	D	-0.71%
KDP	C	-0.71%
AMGN	D	-0.7%
ELV	F	-0.69%
NOW	C	-0.68%
TSN	D	-0.68%
MA	A	-0.66%
VRSN	C	-0.66%
ORLY	A	-0.64%
COR	F	-0.62%
BDX	B	-0.6%
NEM	C	-0.6%
KR	B	-0.59%
FANG	F	-0.57%
FI	A	-0.57%
KEYS	C	-0.56%
MPC	F	-0.56%
NVDA	C	-0.55%
ERIE	A	-0.54%
TDY	B	-0.53%
FFIV	C	-0.52%
CME	A	-0.51%
YUM	B	-0.51%
MDLZ	C	-0.51%
JNPR	C	-0.5%
FICO	C	-0.5%
UBER	C	-0.5%
PTC	D	-0.49%
AON	A	-0.49%
INCY	B	-0.48%
CDW	D	-0.46%
CL	D	-0.46%
AKAM	D	-0.46%
BAH	A	-0.45%
XOM	B	-0.45%
EG	B	-0.45%
HUM	F	-0.45%
TJX	C	-0.44%
KHC	B	-0.43%
BMY	B	-0.43%
WDAY	D	-0.41%
VRSK	D	-0.4%
CPB	D	-0.38%
CHD	B	-0.37%
ROL	B	-0.37%
CTVA	B	-0.37%
WTW	A	-0.35%
HSY	D	-0.34%
IT	C	-0.34%
AFG	B	-0.34%
GEN	A	-0.33%
NBIX	F	-0.32%
MKL	B	-0.32%
CVX	D	-0.31%
GLW	C	-0.3%
FWONK	D	-0.3%
ICE	A	-0.29%
AIZ	A	-0.29%
WRB	B	-0.29%
HD	A	-0.29%
ANET	B	-0.29%
GRMN	D	-0.28%
L	D	-0.27%
ADI	C	-0.25%
BMRN	F	-0.25%
ALNY	B	-0.25%
PFE	D	-0.24%
AEE	A	-0.23%
CI	C	-0.23%
HRL	F	-0.22%
KMB	B	-0.22%
NTAP	D	-0.22%
MOH	D	-0.22%
AZPN	C	-0.22%
HON	B	-0.22%
MELI	C	-0.2%
CMS	A	-0.2%
DTE	A	-0.2%
HUBS	D	-0.19%
LIN	B	-0.18%
TW	A	-0.18%
STX	B	-0.18%
PKG	A	-0.18%
DPZ	D	-0.18%
HOLX	D	-0.17%
SNPS	F	-0.17%
CRWD	D	-0.16%
CDNS	D	-0.16%
EOG	D	-0.16%
GOOG	C	-0.15%
UTHR	B	-0.14%
MDT	A	-0.14%
AMZN	C	-0.13%
OXY	F	-0.13%
HIG	A	-0.12%
KO	B	-0.11%
LNT	A	-0.1%
DELL	D	-0.1%
DGX	C	-0.1%
RTX	A	-0.09%
ABT	C	-0.09%
FSLR	C	-0.08%
ADP	A	-0.08%
TEL	D	-0.07%
PSX	F	-0.06%
GD	A	-0.06%
KNX	C	-0.06%
OTIS	A	-0.06%
VLO	F	-0.05%
CVS	D	-0.05%
BR	B	-0.05%
ULTA	D	-0.05%
ATO	A	-0.05%
CRM	C	-0.04%