PKW vs. LKOR ETF Comparison

Comparison of PowerShares Buyback Achievers (PKW) to FlexShares Credit-Scored US Long Corporate Bond Index Fund (LKOR)

PKW

PowerShares Buyback Achievers

PKW Description

The PowerShares Buyback AchieversTM Portfolio (Fund) is based on the NASDAQ US Buyback AchieversTM Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to track the performance of companies that meet the requirements to be classified as BuyBack Achievers™. To become eligible for inclusion in the Index, a company must be incorporated in the U.S., trade on a US exchange and must have repurchased at least 5% or more of its outstanding shares for the trailing 12 months. The Fund and the Index are reconstituted annually in January and rebalanced quarterly in January, April, July and October. Effective December 28, 2012, the NADAQ OMX Group, Inc. replaced Mergent, Inc., as the Index Provider of the Index. Effective February 25, 2013, the name of the Index changed from Share Buyback Achievers Index to NASDAQ Buyback Achievers Index. There will be no change to the methodology by which NASDAQ OMX Group, Inc., the Index Provider, calculates the Index. Please see the Fund’s prospectus supplement for more information. On February 25, 2013, NASDAQ took the place of the NYSE as the official Index data source.

Grade (RS Rating)

Last Trade

$123.37

Average Daily Volume

16,865

Number of Holdings ^*

191

* may have additional holdings in another (foreign) market

LKOR

FlexShares Credit-Scored US Long Corporate Bond Index Fund

LKOR Description

Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund is an exchange traded fund launched by Northern Trust Corporation. It is managed by Northern Trust Investments, Incorporated. The fund invests in fixed income markets of the United States. It invests in US-dollar denominated investment grade bonds of companies rated BBB or higher by S&P or Fitch or Baa3 or higher by Moody's and with maturities greater than or equal to ten years. The fund seeks to track the performance of the Northern Trust Credit-Scored US Long Corporate Bond Index, by employing representative sampling methodology. Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund was formed on September 23, 2015 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$43.00

Average Daily Volume

6,834

Number of Holdings ^*

163

* may have additional holdings in another (foreign) market

Performance

Period	PKW	LKOR
30 Days	6.87%	-0.56%
60 Days	8.86%	-5.06%
90 Days	11.75%	-3.66%
12 Months	36.31%	9.17%

15 Overlapping Holdings

Symbol	Grade	Weight in PKW	Weight in LKOR	Overlap
AFL	B	2.05%	0.12%	0.12%
AIG	B	1.6%	0.23%	0.23%
BHF	B	0.1%	0.1%	0.1%
CAH	B	0.95%	0.31%	0.31%
CMCSA	B	4.88%	0.24%	0.24%
CSX	B	2.21%	0.12%	0.12%
FOXA	B	0.33%	0.24%	0.24%
HCA	F	2.83%	0.24%	0.24%
HIG	B	1.13%	0.2%	0.2%
JEF	A	0.5%	0.26%	0.26%
JNJ	D	4.53%	0.12%	0.12%
LMT	D	4.13%	0.24%	0.24%
MCK	B	2.61%	0.23%	0.23%
MET	A	1.91%	0.14%	0.14%
VRSK	A	1.3%	0.1%	0.1%

PKW Overweight 176 Positions Relative to LKOR

Symbol	Grade	Weight
BKNG	A	5.49%
TMUS	B	5.44%
FI	A	4.0%
DE	A	3.61%
APP	B	2.89%
PYPL	B	2.83%
MAR	B	2.59%
ORLY	B	2.3%
HLT	A	2.0%
PSX	C	1.79%
AZO	C	1.77%
MPC	D	1.75%
VST	B	1.64%
VLO	C	1.51%
DFS	B	1.42%
DD	D	1.12%
CNC	D	1.01%
STT	A	0.94%
PHM	D	0.87%
GDDY	A	0.85%
SYF	B	0.83%
EXPE	B	0.73%
STLD	B	0.71%
BLDR	D	0.68%
CFG	B	0.68%
CSL	C	0.66%
L	A	0.6%
EXPD	D	0.55%
TXT	D	0.51%
TOL	B	0.5%
EQH	B	0.49%
THC	D	0.48%
MGM	D	0.37%
MUSA	A	0.35%
PAG	B	0.35%
WMS	D	0.34%
CACI	D	0.33%
EXP	A	0.33%
PRI	A	0.33%
ORI	A	0.32%
CNM	D	0.28%
DINO	D	0.27%
HRB	D	0.27%
WH	B	0.25%
BERY	B	0.25%
BRKR	D	0.24%
R	B	0.23%
BYD	C	0.22%
MTN	C	0.22%
WSC	D	0.22%
CHH	A	0.22%
MTG	C	0.21%
AN	C	0.21%
ARW	D	0.2%
COOP	B	0.2%
KBH	D	0.19%
RH	B	0.19%
CNX	A	0.19%
GPI	A	0.18%
VVV	F	0.18%
AMG	B	0.18%
PVH	C	0.18%
SM	B	0.17%
ABG	B	0.17%
CRC	A	0.17%
MATX	C	0.17%
NXST	C	0.17%
SLM	A	0.17%
DDS	B	0.17%
BC	C	0.17%
OLN	D	0.16%
NSIT	F	0.16%
EEFT	B	0.15%
IDCC	B	0.15%
HGV	B	0.14%
GOLF	B	0.14%
TNET	D	0.14%
SKYW	B	0.14%
ASGN	F	0.13%
CVCO	A	0.13%
DXC	B	0.12%
CAR	C	0.12%
GFF	A	0.12%
WU	D	0.12%
CEIX	A	0.12%
TNL	A	0.12%
ASH	D	0.12%
ASO	F	0.11%
ATGE	B	0.11%
NSA	D	0.11%
HP	B	0.11%
BTU	B	0.11%
DOCN	D	0.11%
HUN	F	0.11%
FBP	B	0.11%
SLVM	B	0.11%
TGNA	B	0.1%
LBRT	D	0.1%
PK	B	0.1%
DEI	B	0.1%
CARG	C	0.1%
VIRT	B	0.1%
ATKR	C	0.1%
AMR	C	0.1%
VAC	B	0.1%
GNW	A	0.1%
ENVA	B	0.09%
SPB	C	0.08%
SEB	F	0.08%
PRG	C	0.07%
GBX	A	0.07%
HURN	B	0.07%
IART	C	0.06%
AZTA	D	0.06%
CASH	A	0.06%
SAH	A	0.05%
PLAY	D	0.05%
ATSG	B	0.05%
PEB	D	0.05%
XHR	B	0.05%
PZZA	D	0.05%
CSGS	B	0.05%
NAVI	C	0.05%
DXPE	B	0.04%
INVA	D	0.04%
DK	C	0.04%
HTZ	C	0.04%
CNNE	B	0.04%
JBGS	D	0.04%
EIG	B	0.04%
SNCY	C	0.03%
LQDT	B	0.03%
CGEM	F	0.03%
RYI	C	0.03%
STGW	B	0.03%
HCKT	B	0.03%
PRA	C	0.03%
EGBN	B	0.03%
ODP	F	0.03%
JACK	D	0.03%
ECVT	C	0.03%
AMN	F	0.03%
LILAK	D	0.03%
XRX	F	0.03%
SBSI	B	0.03%
TBPH	C	0.02%
ANAB	F	0.02%
NFBK	B	0.02%
HONE	B	0.02%
FPI	B	0.02%
LXU	B	0.02%
OPY	B	0.02%
NR	B	0.02%
IMXI	B	0.02%
SCHL	D	0.02%
ZIP	F	0.02%
LPRO	C	0.02%
CHGG	D	0.01%
SKIN	D	0.01%
DBI	F	0.01%
ZYXI	D	0.01%
ONTF	C	0.01%
TASK	C	0.01%
WSBF	C	0.01%
RLGT	A	0.01%
DENN	D	0.01%
MBI	B	0.01%
GCO	B	0.01%
CCRN	F	0.01%
LWAY	D	0.01%
LOCO	D	0.01%
SENEA	B	0.01%
LSEA	D	0.01%
NECB	B	0.01%
KELYA	F	0.01%
MX	F	0.0%

PKW Underweight 148 Positions Relative to LKOR

Symbol	Grade	Weight
PM	B	-0.7%
SCCO	F	-0.64%
ACGL	D	-0.55%
DUK	C	-0.5%
HSBC	B	-0.48%
LNT	A	-0.4%
V	A	-0.4%
FITB	A	-0.39%
KOF	F	-0.37%
INTC	D	-0.37%
BA	F	-0.37%
HPE	B	-0.37%
NI	A	-0.37%
CVS	D	-0.36%
GILD	C	-0.35%
ABBV	D	-0.33%
DOW	F	-0.32%
CP	D	-0.29%
NNN	D	-0.29%
ED	D	-0.29%
AEP	D	-0.28%
RF	A	-0.28%
TEL	B	-0.28%
AMT	D	-0.27%
KMB	D	-0.26%
MMM	D	-0.26%
NOC	D	-0.26%
CHTR	C	-0.26%
HON	B	-0.25%
LOW	D	-0.25%
ORCL	B	-0.25%
WFC	A	-0.25%
CAG	D	-0.24%
AEE	A	-0.24%
NEM	D	-0.24%
WEC	A	-0.24%
CMS	C	-0.24%
MMC	B	-0.24%
GWW	B	-0.24%
BHP	F	-0.24%
DOV	A	-0.24%
KDP	D	-0.24%
HPQ	A	-0.24%
MKL	A	-0.24%
OKE	A	-0.24%
LH	C	-0.23%
LYB	F	-0.23%
PGR	A	-0.23%
IBM	C	-0.23%
TXN	C	-0.23%
WRB	A	-0.23%
ATO	A	-0.23%
BDX	F	-0.23%
SBUX	A	-0.23%
AMGN	D	-0.23%
CSCO	B	-0.23%
BAC	A	-0.23%
D	C	-0.23%
MA	C	-0.22%
EXC	C	-0.22%
MRO	B	-0.22%
VMI	B	-0.22%
EL	F	-0.21%
NVDA	C	-0.21%
SRE	A	-0.21%
GS	A	-0.21%
SHW	A	-0.21%
EIX	B	-0.21%
C	A	-0.21%
KLAC	D	-0.2%
EG	C	-0.2%
AVGO	D	-0.2%
PAA	B	-0.2%
MO	A	-0.2%
STZ	D	-0.19%
NDAQ	A	-0.19%
ZTS	D	-0.19%
KO	D	-0.19%
CCI	D	-0.19%
KMI	A	-0.19%
HD	A	-0.19%
LEA	D	-0.18%
EBAY	D	-0.18%
CPB	D	-0.18%
AIZ	A	-0.18%
ARE	D	-0.18%
AMZN	C	-0.18%
EPD	A	-0.18%
VZ	C	-0.18%
REGN	F	-0.17%
AAPL	C	-0.17%
SPGI	C	-0.16%
UNP	C	-0.16%
UNH	C	-0.16%
HAL	C	-0.14%
MS	A	-0.14%
JCI	C	-0.13%
APTV	D	-0.13%
EFX	F	-0.13%
HAS	D	-0.13%
AON	A	-0.13%
GM	B	-0.13%
XOM	B	-0.12%
TT	A	-0.12%
WELL	A	-0.12%
IFF	D	-0.12%
VTR	C	-0.12%
GOOGL	C	-0.12%
EMR	A	-0.12%
IPG	D	-0.12%
NSC	B	-0.12%
MCO	B	-0.12%
MCD	D	-0.12%
PRU	A	-0.11%
BWA	D	-0.11%
MLM	B	-0.11%
CHD	B	-0.11%
DG	F	-0.11%
REG	B	-0.11%
RJF	A	-0.11%
OC	A	-0.11%
MAS	D	-0.11%
FMC	D	-0.11%
SO	D	-0.11%
BABA	D	-0.11%
OTIS	C	-0.1%
KIM	A	-0.1%
SJM	D	-0.1%
DHR	F	-0.1%
WBA	F	-0.1%
ELV	F	-0.1%
RPM	A	-0.1%
WTW	B	-0.1%
GLW	B	-0.1%
MSFT	F	-0.1%
MDLZ	F	-0.09%
EA	A	-0.09%
BIIB	F	-0.09%
RPRX	D	-0.09%
PCG	A	-0.09%
JPM	A	-0.09%
T	A	-0.09%
HUM	C	-0.07%
ITW	B	-0.06%
SIGI	C	-0.06%
LHX	C	-0.05%
FTV	C	-0.05%
ALL	A	-0.04%