OPTZ vs. RAVI ETF Comparison

Comparison of Optimize Strategy Index ETF (OPTZ) to FlexShares Ready Access Variable Income Fund (RAVI)

OPTZ

Optimize Strategy Index ETF

OPTZ Description

OPTZ seeks to track a broad market index consisting of US-listed equities that meet certain market-cap threshold and liquidity requirements. To be included in the fund, eligible large-cap and small-cap companies are evaluated and ranked within their own sector. Large cap companies are ranked based on the ratio of current EPS over the trailing 10-year average EPS, the current P/E ratio, and the 2-year forward EPS growth estimate. Small-cap companies are ranked solely on their P/S ratio. Within these two groups, the top 20% are selected from each sector. The index weights the sectors using the sum of the market capitalization of all constituents in each sector and within each sector each constituent is equally weighted. Reconstitution and rebalancing are done semi-annually.

Grade (RS Rating)

Last Trade

$31.04

Average Daily Volume

7,221

Number of Holdings ^*

321

* may have additional holdings in another (foreign) market

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.44

Average Daily Volume

72,378

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	OPTZ	RAVI
30 Days	8.47%	0.41%
60 Days	9.68%	0.65%
90 Days	11.36%	1.23%
12 Months		5.45%

23 Overlapping Holdings

Symbol	Grade	Weight in OPTZ	Weight in RAVI	Overlap
AMT	D	0.07%	0.13%	0.07%
AMZN	C	0.38%	0.42%	0.38%
BA	F	0.11%	0.15%	0.11%
BHF	B	0.24%	0.17%	0.17%
CAT	B	0.14%	0.26%	0.14%
CMCSA	B	0.64%	0.28%	0.28%
CRM	B	1.37%	0.4%	0.4%
CVS	D	0.26%	0.16%	0.16%
DELL	C	1.29%	0.28%	0.28%
DTE	C	0.05%	0.77%	0.05%
DUK	C	0.05%	0.07%	0.05%
EFX	F	0.11%	0.1%	0.1%
ETR	B	0.06%	0.38%	0.06%
GS	A	0.25%	0.26%	0.25%
ICE	C	0.2%	0.15%	0.15%
MLM	B	0.17%	0.28%	0.17%
NVDA	C	1.44%	0.52%	0.52%
PCAR	B	0.15%	0.05%	0.05%
ROP	B	1.0%	0.07%	0.07%
SO	D	0.05%	0.26%	0.05%
SYK	C	0.14%	0.49%	0.14%
T	A	0.64%	0.3%	0.3%
UNH	C	0.13%	0.43%	0.13%

OPTZ Overweight 298 Positions Relative to RAVI

Symbol	Grade	Weight
APP	B	2.03%
CRWD	B	1.37%
TTMI	B	1.36%
INTC	D	1.31%
GDDY	A	1.27%
NOW	A	1.27%
FFIV	B	1.25%
ANET	C	1.24%
QLYS	C	1.22%
CDNS	B	1.21%
BHE	B	1.2%
ITRI	B	1.19%
MSI	B	1.18%
SNPS	B	1.16%
WIX	B	1.15%
INFN	C	1.11%
AAPL	C	1.06%
VZIO	A	1.04%
AMD	F	1.03%
VRSN	F	1.03%
BAH	F	1.02%
IBM	C	1.02%
AMAT	F	1.0%
FSLR	F	0.96%
DJT	C	0.93%
LUMN	C	0.83%
CRUS	D	0.8%
IDCC	A	0.78%
ACLS	F	0.78%
DIS	B	0.77%
NFLX	A	0.73%
TMUS	B	0.72%
RNG	B	0.72%
ZM	B	0.71%
EA	A	0.66%
META	D	0.65%
EAT	A	0.55%
CVNA	B	0.55%
AMC	C	0.54%
NPAB	B	0.52%
TSLA	B	0.49%
WWW	B	0.48%
NCLH	B	0.48%
RCL	A	0.47%
COIN	C	0.42%
HBI	B	0.42%
WOOF	D	0.42%
UNFI	A	0.41%
RL	B	0.39%
LULU	C	0.39%
SIG	B	0.39%
MAR	B	0.39%
DECK	A	0.39%
LVS	C	0.38%
WHR	B	0.37%
GRMN	B	0.37%
ANF	C	0.36%
SBH	C	0.36%
WYNN	D	0.36%
BZH	B	0.35%
LOW	D	0.35%
PCT	C	0.34%
FIVE	F	0.34%
DPZ	C	0.34%
PVH	C	0.34%
ORLY	B	0.34%
ALV	C	0.33%
BURL	A	0.33%
TAP	C	0.32%
MCD	D	0.32%
CHDN	B	0.32%
APO	B	0.31%
YETI	C	0.31%
ENR	B	0.31%
ETSY	D	0.3%
CHD	B	0.3%
ULTA	F	0.3%
ROST	C	0.29%
DKS	C	0.29%
GPC	D	0.29%
COST	B	0.29%
LC	A	0.28%
LEA	D	0.28%
TGT	F	0.28%
LNW	D	0.28%
DOLE	D	0.27%
SQ	B	0.27%
MELI	D	0.27%
WBA	F	0.27%
STZ	D	0.27%
ODP	F	0.27%
AX	A	0.26%
DAN	D	0.26%
PEP	F	0.26%
APTV	D	0.25%
CL	D	0.25%
KKR	A	0.25%
FI	A	0.25%
AMP	A	0.25%
CAL	D	0.25%
BG	F	0.25%
TROW	B	0.24%
ARES	A	0.24%
AXP	A	0.24%
CROX	D	0.24%
BLK	C	0.24%
CINF	A	0.23%
AGO	B	0.23%
PRU	A	0.23%
EWTX	C	0.23%
AIZ	A	0.23%
CPAY	A	0.23%
PRG	C	0.22%
SIGI	C	0.22%
GPN	B	0.22%
WTW	B	0.22%
COOP	B	0.22%
LBPH	A	0.22%
BR	A	0.22%
V	A	0.22%
TRV	B	0.22%
NATL	B	0.21%
GL	B	0.21%
PGR	A	0.21%
AXON	A	0.21%
VRT	B	0.21%
AER	B	0.21%
BFH	B	0.21%
MSCI	C	0.21%
BRO	B	0.21%
ALL	A	0.21%
LDI	C	0.2%
STRL	B	0.2%
MKTX	D	0.2%
CME	A	0.2%
SPGI	C	0.2%
HIG	B	0.2%
CRS	A	0.2%
MCO	B	0.2%
GATO	D	0.2%
RNR	C	0.2%
ZIM	C	0.2%
NAVI	C	0.19%
ACGL	D	0.19%
DAL	C	0.19%
PMT	D	0.19%
CBOE	B	0.19%
CB	C	0.19%
FIX	A	0.18%
APD	A	0.18%
VMC	B	0.18%
EME	C	0.18%
GTLS	B	0.18%
PAYC	B	0.18%
XPO	B	0.18%
LPX	B	0.18%
EXP	A	0.18%
SKYW	B	0.18%
HQY	B	0.17%
JBLU	F	0.17%
AVNT	B	0.17%
HASI	D	0.17%
PEN	B	0.16%
EMN	D	0.16%
SHW	A	0.16%
DOCU	A	0.16%
PCTY	B	0.16%
PWR	A	0.16%
AIT	A	0.16%
ACHR	B	0.16%
INCY	C	0.16%
VERA	B	0.16%
GNRC	B	0.16%
HON	B	0.15%
ECL	D	0.15%
HUBB	B	0.15%
ESTC	C	0.15%
GFF	A	0.15%
ISRG	A	0.15%
TT	A	0.15%
ETN	A	0.15%
PEGA	A	0.15%
WAB	B	0.15%
JAZZ	B	0.15%
PH	A	0.15%
URI	B	0.15%
TPC	C	0.15%
SAIA	B	0.15%
PODD	C	0.15%
CLOV	D	0.15%
PNR	A	0.15%
PHIN	A	0.14%
THC	D	0.14%
STGW	B	0.14%
COR	B	0.14%
ZBH	C	0.14%
MRC	B	0.14%
DGX	A	0.14%
WST	C	0.14%
LECO	B	0.14%
UTHR	C	0.14%
CAH	B	0.14%
LIVN	F	0.14%
AKRO	B	0.14%
REVG	B	0.14%
LIN	D	0.14%
DVA	B	0.14%
WDAY	B	0.13%
BV	B	0.13%
VRSK	A	0.13%
ALGN	D	0.13%
FDX	B	0.13%
NBIX	C	0.13%
VRTX	F	0.13%
SAVA	D	0.13%
OSK	B	0.13%
PBI	B	0.13%
WWD	B	0.13%
ASH	D	0.13%
MANH	D	0.13%
AHCO	F	0.12%
SHC	F	0.12%
AOS	F	0.12%
KRYS	B	0.12%
MOH	F	0.12%
RPRX	D	0.12%
XYL	D	0.12%
STE	F	0.12%
RSG	A	0.12%
ETNB	C	0.12%
DAWN	F	0.12%
IQV	D	0.11%
COGT	D	0.11%
SRPT	D	0.11%
BAX	D	0.11%
DLR	B	0.11%
SNDX	F	0.11%
KURA	F	0.11%
VNO	B	0.11%
ADBE	C	0.11%
TMO	F	0.11%
UHS	D	0.11%
IDXX	F	0.11%
DYN	F	0.11%
UNIT	B	0.1%
EQIX	A	0.1%
RHP	B	0.1%
CGEM	F	0.1%
WELL	A	0.1%
SPG	B	0.1%
LNTH	D	0.1%
EXPI	C	0.1%
CBRE	B	0.1%
OMI	F	0.1%
HII	D	0.09%
CPT	B	0.09%
PEB	D	0.09%
NEXT	B	0.09%
ELS	C	0.09%
PK	B	0.09%
CE	F	0.09%
LAMR	D	0.09%
WY	D	0.09%
SBRA	C	0.09%
OGN	D	0.09%
NMRK	B	0.09%
REXR	F	0.08%
NVRI	F	0.08%
RDFN	D	0.08%
SBAC	D	0.08%
EGP	F	0.08%
TDW	F	0.08%
ICLR	D	0.08%
PRIM	A	0.08%
CEG	D	0.07%
KNTK	B	0.07%
BKR	B	0.07%
WMB	A	0.07%
BKD	D	0.07%
TRGP	B	0.07%
DTM	B	0.07%
ATO	A	0.06%
WKC	D	0.06%
SLB	C	0.06%
OII	B	0.06%
WHD	B	0.06%
FTI	A	0.06%
SANA	F	0.06%
NRG	B	0.06%
EIX	B	0.05%
VAL	D	0.05%
APA	D	0.05%
WFRD	D	0.05%
DK	C	0.05%
SWX	B	0.05%
AES	F	0.04%
NFE	D	0.04%
HE	C	0.04%

OPTZ Underweight 78 Positions Relative to RAVI

Symbol	Grade	Weight
VLO	C	-1.51%
ED	D	-1.05%
OGS	A	-1.05%
OTIS	C	-0.95%
PYPL	B	-0.95%
KDP	D	-0.95%
DHR	F	-0.86%
LYB	F	-0.83%
GE	D	-0.76%
TSN	B	-0.7%
WM	A	-0.69%
CI	F	-0.67%
CM	A	-0.62%
GP	F	-0.59%
GILD	C	-0.59%
TFC	A	-0.59%
AIG	B	-0.57%
SJM	D	-0.57%
NEE	D	-0.57%
BAC	A	-0.57%
AZO	C	-0.52%
BNS	A	-0.52%
D	C	-0.51%
BDX	F	-0.51%
TD	F	-0.51%
RY	A	-0.51%
CCI	D	-0.49%
AON	A	-0.46%
BMY	B	-0.43%
SCHW	B	-0.42%
VFC	C	-0.39%
OGE	B	-0.39%
AEP	D	-0.38%
CVX	A	-0.33%
NDAQ	A	-0.31%
ARCC	A	-0.3%
HSBC	B	-0.29%
CFG	B	-0.29%
DB	D	-0.28%
CP	D	-0.27%
WFC	A	-0.26%
CLX	B	-0.26%
LEN	D	-0.26%
ATHS	C	-0.26%
AL	B	-0.25%
C	A	-0.24%
CMS	C	-0.24%
FIS	C	-0.23%
MCHP	D	-0.22%
FITB	A	-0.22%
PPL	B	-0.22%
FOXA	B	-0.21%
NYC	D	-0.21%
CNP	B	-0.2%
SBUX	A	-0.18%
LUV	C	-0.18%
MKC	D	-0.17%
AEE	A	-0.17%
KEY	B	-0.16%
SEB	F	-0.16%
UBS	C	-0.16%
PSX	C	-0.16%
AZN	D	-0.15%
NWG	C	-0.15%
MUFG	B	-0.14%
MET	A	-0.13%
DHI	D	-0.13%
CNH	C	-0.13%
ABBV	D	-0.13%
HPE	B	-0.11%
GM	B	-0.1%
VZ	C	-0.1%
MDLZ	F	-0.09%
R	B	-0.08%
HRL	D	-0.07%
COF	B	-0.06%
MS	A	-0.06%
JPM	A	-0.03%