PFF vs. RAVI ETF Comparison

Comparison of iShares US Preferred Stock ETF (PFF) to FlexShares Ready Access Variable Income Fund (RAVI)

PFF

iShares US Preferred Stock ETF

PFF Description

The investment seeks to track the investment results of an index composed of U.S. preferred stocks. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the S&P U.S. Preferred Stock IndexTM (the "underlying index"), which measures the performance of a select group of preferred stocks listed on the New York Stock Exchange (" NYSE"), NYSE Arca, Inc. ("NYSE Arca"), NYSE Amex, NASDAQ Global Select Market, NASDAQ Select Market or NASDAQ Capital Market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$32.54

Average Daily Volume

3,365,432

Number of Holdings ^*

223

* 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

$75.23

Average Daily Volume

79,720

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	PFF	RAVI
30 Days	-1.82%	0.24%
60 Days	2.09%	0.83%
90 Days	4.44%	1.28%
12 Months	16.83%	5.54%

24 Overlapping Holdings

Symbol	Grade	Weight in PFF	Weight in RAVI	Overlap
ATHS	A	0.19%	0.26%	0.19%
BAC	B	0.06%	0.57%	0.06%
BHF	B	0.16%	0.17%	0.16%
C	A	1.7%	0.24%	0.24%
CFG	A	0.25%	0.29%	0.25%
CMS	C	0.12%	0.24%	0.12%
COF	A	0.06%	0.06%	0.06%
DTE	C	0.12%	0.77%	0.12%
DUK	C	0.62%	0.07%	0.07%
FITB	B	0.13%	0.22%	0.13%
GS	B	0.12%	0.26%	0.12%
HPE	A	1.07%	0.11%	0.11%
JPM	A	0.41%	0.03%	0.03%
KEY	B	0.24%	0.16%	0.16%
MET	C	0.37%	0.13%	0.13%
MS	B	0.25%	0.06%	0.06%
NEE	D	1.14%	0.57%	0.57%
NEE	D	0.43%	0.57%	0.43%
SCHW	B	0.32%	0.42%	0.32%
SO	C	0.39%	0.26%	0.26%
T	A	0.66%	0.3%	0.3%
T	A	0.91%	0.3%	0.3%
TFC	C	0.1%	0.59%	0.1%
WFC	B	0.3%	0.26%	0.26%

PFF Overweight 199 Positions Relative to RAVI

Symbol	Grade	Weight
ALB	C	1.27%
TBB	C	0.79%
SOJD	D	0.57%
TBC	D	0.52%
SREA	A	0.47%
RZC	A	0.46%
APO	B	0.41%
CMSD	C	0.39%
F	D	0.38%
JXN	B	0.37%
CHSCO	A	0.36%
WCC	A	0.35%
PRS	C	0.35%
LNC	A	0.35%
CHSCL	A	0.34%
SYF	B	0.32%
AXS	C	0.31%
QRTEP	F	0.31%
BPYPM	B	0.31%
BANC	B	0.31%
CHSCM	B	0.31%
STT	A	0.31%
DUKB	C	0.31%
FITBI	A	0.29%
BTSG	A	0.29%
UZE	B	0.28%
USM	B	0.28%
CTDD	C	0.28%
CHSCN	A	0.27%
SOJC	D	0.27%
TPG	B	0.26%
NLY	D	0.26%
KKR	B	0.25%
GTLS	B	0.25%
RZB	C	0.25%
CG	B	0.25%
PFH	D	0.25%
CHSCP	D	0.24%
DTW	D	0.24%
NTRS	B	0.23%
PBI	A	0.23%
FG	F	0.23%
TDS	B	0.23%
EAI	D	0.23%
HIG	D	0.22%
USB	B	0.22%
ESGRP	B	0.21%
PRU	B	0.2%
FCNCA	C	0.2%
RLJ	F	0.2%
AGNCN	A	0.2%
MGR	C	0.19%
UNMA	D	0.19%
VOYA	B	0.19%
RF	B	0.19%
ACGLO	C	0.19%
UMH	D	0.18%
WTFCP	A	0.18%
NGL	F	0.18%
OZKAP	C	0.17%
ALL	C	0.17%
KREF	D	0.17%
CMSC	C	0.17%
MTB	B	0.16%
NRUC	C	0.16%
SR	D	0.16%
TCBI	B	0.16%
GPJA	D	0.16%
FBRT	B	0.15%
GL	C	0.15%
EMP	D	0.15%
TVC	C	0.15%
RNR	C	0.15%
HPP	F	0.15%
NAVI	F	0.15%
ELC	D	0.15%
WAL	C	0.15%
AIZN	C	0.14%
WAFD	D	0.14%
EQH	B	0.14%
PNFP	A	0.14%
AGNC	D	0.14%
CMSA	C	0.13%
SNV	B	0.13%
VNO	B	0.13%
SFB	D	0.13%
DBRG	D	0.13%
DDT	A	0.13%
NSA	D	0.13%
KMI	B	0.13%
EIX	D	0.12%
TVE	C	0.12%
SLG	B	0.12%
KIM	B	0.12%
FCNCO	C	0.12%
LBRDP	A	0.11%
HBAN	B	0.11%
AUB	C	0.11%
HWC	A	0.11%
NYMTM	A	0.11%
AFGC	C	0.11%
DLR	A	0.11%
SLMBP	D	0.11%
WRB	C	0.11%
TRTX	A	0.1%
SPLP	F	0.1%
WSBC	A	0.1%
FULT	B	0.1%
RITM	D	0.1%
AHH	D	0.1%
SIGI	C	0.1%
CADE	B	0.1%
VLY	A	0.1%
SITC	F	0.1%
AFGE	C	0.1%
SF	A	0.1%
DHC	D	0.1%
GPMT	C	0.09%
CIM	D	0.09%
KMPR	B	0.09%
AMG	A	0.09%
ADC	C	0.09%
AFGD	C	0.09%
SNCR	D	0.09%
ZIONO	A	0.09%
BNRE.A	A	0.09%
AGNCL	A	0.09%
ARR	D	0.09%
HTLF	A	0.08%
FHN	B	0.08%
TWO	F	0.08%
NYMTL	A	0.08%
CFR	B	0.08%
AFGB	C	0.08%
NMFC	F	0.08%
LANDO	D	0.08%
BC	C	0.08%
QVCD	C	0.08%
BOH	A	0.08%
WTFCM	A	0.08%
MBIN	F	0.08%
GAIN	B	0.08%
ARGD	D	0.08%
CTVA	A	0.08%
FRT	D	0.08%
CNO	A	0.08%
NYMTN	A	0.08%
WBS	B	0.08%
ACR	C	0.07%
AMH	F	0.07%
BPOPM	A	0.07%
PCG	B	0.07%
IVR	F	0.07%
DCOMP	A	0.07%
EPR	D	0.07%
SAR	C	0.07%
PSA	D	0.07%
FTAI	A	0.07%
CTO	B	0.07%
RILY	D	0.07%
ENO	C	0.07%
MHNC	A	0.07%
ONB	A	0.07%
NEWT	B	0.07%
FCRX	A	0.07%
ABR	B	0.07%
PMT	D	0.07%
MSBI	A	0.07%
TRIN	D	0.07%
MFA	D	0.07%
BW	B	0.07%
DRH	D	0.07%
REG	D	0.07%
ATLC	A	0.07%
DX	C	0.07%
VLYPP	B	0.07%
EQC	C	0.07%
ASB	A	0.06%
RILYN	B	0.06%
OPI	F	0.06%
BFS	D	0.06%
LXP	D	0.06%
PEB	F	0.06%
CODI	D	0.06%
EFC	D	0.06%
PSEC	D	0.06%
CNOB	D	0.06%
CLDT	F	0.06%
VLYPO	C	0.06%
GNL	D	0.06%
MHLA	A	0.05%
FATBP	F	0.05%
CIO	D	0.05%
INN	F	0.05%
SHO	D	0.05%
FOSL	A	0.05%
RC	F	0.05%
BHR	D	0.03%
XELAP	F	0.0%

PFF Underweight 79 Positions Relative to RAVI

Symbol	Grade	Weight
VLO	F	-1.51%
ED	C	-1.05%
OGS	C	-1.05%
OTIS	B	-0.95%
PYPL	B	-0.95%
KDP	F	-0.95%
DHR	D	-0.86%
LYB	F	-0.83%
GE	D	-0.76%
TSN	D	-0.7%
WM	A	-0.69%
CI	D	-0.67%
CM	A	-0.62%
GP	F	-0.59%
GILD	A	-0.59%
AIG	B	-0.57%
SJM	F	-0.57%
AZO	D	-0.52%
NVDA	B	-0.52%
BNS	B	-0.52%
D	B	-0.51%
BDX	C	-0.51%
TD	F	-0.51%
RY	B	-0.51%
SYK	A	-0.49%
CCI	D	-0.49%
AON	A	-0.46%
UNH	C	-0.43%
BMY	A	-0.43%
AMZN	A	-0.42%
CRM	A	-0.4%
VFC	A	-0.39%
OGE	C	-0.39%
ETR	A	-0.38%
AEP	D	-0.38%
CVX	A	-0.33%
NDAQ	B	-0.31%
ARCC	B	-0.3%
HSBC	A	-0.29%
MLM	A	-0.28%
DELL	A	-0.28%
CMCSA	A	-0.28%
DB	B	-0.28%
CP	F	-0.27%
CAT	B	-0.26%
CLX	B	-0.26%
LEN	D	-0.26%
AL	B	-0.25%
FIS	B	-0.23%
MCHP	F	-0.22%
PPL	C	-0.22%
FOXA	A	-0.21%
NYC	C	-0.21%
CNP	C	-0.2%
SBUX	A	-0.18%
LUV	A	-0.18%
MKC	C	-0.17%
AEE	B	-0.17%
CVS	F	-0.16%
SEB	F	-0.16%
UBS	B	-0.16%
PSX	F	-0.16%
AZN	F	-0.15%
NWG	A	-0.15%
BA	F	-0.15%
ICE	C	-0.15%
MUFG	A	-0.14%
DHI	D	-0.13%
AMT	D	-0.13%
CNH	A	-0.13%
ABBV	A	-0.13%
EFX	D	-0.1%
GM	B	-0.1%
VZ	D	-0.1%
MDLZ	D	-0.09%
R	A	-0.08%
HRL	F	-0.07%
ROP	D	-0.07%
PCAR	C	-0.05%