RAVI vs. IYJ ETF Comparison

Comparison of FlexShares Ready Access Variable Income Fund (RAVI) to iShares U.S. Industrials ETF (IYJ)

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

$75.56

Average Daily Volume

75,060

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

IYJ

iShares U.S. Industrials ETF

IYJ Description

The investment seeks to track the investment results of an index composed of U.S. equities in the industrials sector. The fund generally invests at least 90% of its assets in securities of the index and in depositary receipts representing securities of the index. It seeks to track the investment results of the Dow Jones U.S. Industrials Index (the "underlying index"), which measures the performance of the industrials sector of the U.S. equity market.

Grade (RS Rating)

Last Trade

$133.03

Average Daily Volume

38,674

Number of Holdings ^*

190

* may have additional holdings in another (foreign) market

Performance

Period	RAVI	IYJ
30 Days	0.62%	3.85%
60 Days	1.15%	6.34%
90 Days	1.16%	8.24%
12 Months	5.33%	26.70%

13 Overlapping Holdings

Symbol	Grade	Weight in RAVI	Weight in IYJ	Overlap
AL	D	0.25%	0.07%	0.07%
BA	F	0.15%	1.4%	0.15%
CAT	C	0.26%	2.6%	0.26%
CNH	C	0.13%	0.14%	0.13%
COF	C	0.06%	0.81%	0.06%
EFX	C	0.1%	0.58%	0.1%
FIS	B	0.23%	0.73%	0.23%
GE	B	0.76%	2.99%	0.76%
MLM	D	0.28%	0.49%	0.28%
OTIS	D	0.95%	0.59%	0.59%
PCAR	D	0.05%	0.75%	0.05%
PYPL	B	0.95%	1.13%	0.95%
R	B	0.08%	0.09%	0.08%

RAVI Overweight 88 Positions Relative to IYJ

Symbol	Grade	Weight
VLO	D	1.51%
ED	C	1.05%
OGS	B	1.05%
KDP	A	0.95%
DHR	B	0.86%
LYB	F	0.83%
DTE	B	0.77%
TSN	C	0.7%
WM	D	0.69%
CI	C	0.67%
CM	B	0.62%
GP	D	0.59%
GILD	B	0.59%
TFC	D	0.59%
AIG	D	0.57%
SJM	C	0.57%
NEE	B	0.57%
BAC	D	0.57%
AZO	D	0.52%
NVDA	D	0.52%
BNS	A	0.52%
D	C	0.51%
BDX	F	0.51%
TD	A	0.51%
RY	B	0.51%
SYK	C	0.49%
CCI	B	0.49%
AON	B	0.46%
UNH	C	0.43%
BMY	C	0.43%
AMZN	C	0.42%
SCHW	D	0.42%
CRM	D	0.4%
VFC	C	0.39%
OGE	B	0.39%
ETR	A	0.38%
AEP	B	0.38%
CVX	D	0.33%
NDAQ	B	0.31%
ARCC	C	0.3%
T	B	0.3%
HSBC	B	0.29%
CFG	D	0.29%
DELL	D	0.28%
CMCSA	D	0.28%
DB	B	0.28%
CP	B	0.27%
WFC	D	0.26%
CLX	C	0.26%
LEN	B	0.26%
SO	B	0.26%
ATHS	A	0.26%
GS	D	0.26%
C	D	0.24%
CMS	A	0.24%
MCHP	D	0.22%
FITB	B	0.22%
PPL	C	0.22%
FOXA	B	0.21%
NYC	C	0.21%
CNP	C	0.2%
SBUX	C	0.18%
LUV	C	0.18%
MKC	B	0.17%
AEE	B	0.17%
BHF	D	0.17%
CVS	D	0.16%
KEY	B	0.16%
SEB	C	0.16%
UBS	D	0.16%
PSX	D	0.16%
AZN	D	0.15%
NWG	B	0.15%
ICE	B	0.15%
MUFG	D	0.14%
MET	A	0.13%
DHI	B	0.13%
AMT	C	0.13%
ABBV	C	0.13%
HPE	D	0.11%
GM	B	0.1%
VZ	B	0.1%
MDLZ	B	0.09%
HRL	C	0.07%
ROP	C	0.07%
DUK	C	0.07%
MS	D	0.06%
JPM	D	0.03%

RAVI Underweight 177 Positions Relative to IYJ

Symbol	Grade	Weight
V	B	-6.97%
MA	B	-6.28%
ACN	C	-3.38%
RTX	C	-2.44%
UNP	B	-2.34%
AXP	B	-2.26%
HON	D	-2.05%
ETN	C	-1.88%
LMT	C	-1.87%
ADP	B	-1.76%
FI	A	-1.57%
DE	B	-1.55%
UPS	D	-1.43%
SHW	B	-1.36%
GD	B	-1.28%
TT	B	-1.27%
PH	B	-1.16%
TDG	B	-1.15%
ITW	B	-1.15%
MMM	B	-1.13%
NOC	B	-1.12%
CTAS	C	-1.11%
CSX	D	-1.01%
FDX	C	-1.0%
CARR	B	-0.99%
GEV	B	-0.95%
CRH	B	-0.92%
EMR	D	-0.9%
NSC	C	-0.86%
JCI	B	-0.76%
URI	B	-0.75%
FICO	A	-0.69%
GWW	B	-0.67%
PAYX	C	-0.67%
LHX	D	-0.67%
CMI	C	-0.63%
FERG	C	-0.6%
PWR	B	-0.6%
VRSK	D	-0.59%
HWM	B	-0.59%
AME	C	-0.59%
ODFL	C	-0.58%
IR	C	-0.56%
SQ	D	-0.55%
DOW	D	-0.54%
DD	B	-0.52%
XYL	D	-0.49%
VMC	D	-0.48%
PPG	C	-0.46%
ROK	D	-0.46%
MTD	D	-0.45%
WAB	A	-0.45%
GPN	D	-0.43%
VLTO	C	-0.42%
AXON	B	-0.42%
FTV	C	-0.4%
KEYS	C	-0.4%
DOV	B	-0.39%
BLDR	C	-0.34%
CPAY	B	-0.33%
HUBB	B	-0.33%
BALL	C	-0.32%
TDY	C	-0.31%
BAH	B	-0.31%
WAT	C	-0.3%
TRU	B	-0.3%
CSL	C	-0.3%
PKG	B	-0.29%
SYF	C	-0.29%
LII	B	-0.29%
J	D	-0.28%
EME	B	-0.28%
ZBRA	B	-0.27%
MAS	B	-0.27%
TXT	D	-0.26%
EXPD	B	-0.26%
HEI	B	-0.25%
WSO	C	-0.25%
RPM	B	-0.24%
SWK	B	-0.24%
AMCR	C	-0.24%
PNR	B	-0.23%
IEX	D	-0.23%
JBHT	D	-0.22%
OC	C	-0.22%
NDSN	C	-0.22%
SNA	B	-0.22%
TRMB	C	-0.21%
GGG	C	-0.21%
JKHY	B	-0.2%
ACM	B	-0.2%
FIX	B	-0.19%
BLD	D	-0.19%
TTEK	C	-0.19%
ALLE	B	-0.19%
XPO	D	-0.19%
HEI	B	-0.18%
SAIA	D	-0.18%
CHRW	B	-0.18%
SW	B	-0.18%
CW	B	-0.18%
CCK	A	-0.17%
NVT	D	-0.17%
ITT	C	-0.17%
AFRM	C	-0.16%
ATR	B	-0.16%
RRX	C	-0.16%
HII	C	-0.16%
FBIN	B	-0.16%
AOS	C	-0.15%
WMS	D	-0.15%
WWD	D	-0.15%
LECO	F	-0.15%
BWXT	D	-0.14%
GPK	B	-0.14%
EXP	B	-0.14%
KNX	C	-0.13%
GNRC	D	-0.13%
WEX	C	-0.13%
MHK	B	-0.13%
DCI	D	-0.13%
TTC	D	-0.13%
BERY	B	-0.12%
ATI	C	-0.12%
ALSN	B	-0.12%
AXTA	C	-0.12%
SSD	C	-0.12%
FCN	C	-0.12%
APG	D	-0.12%
AYI	B	-0.12%
G	C	-0.11%
KEX	C	-0.11%
WCC	C	-0.11%
PCTY	C	-0.11%
MTZ	B	-0.11%
MIDD	C	-0.11%
TREX	F	-0.11%
WSC	D	-0.11%
MKSI	F	-0.11%
CR	C	-0.11%
LPX	B	-0.1%
AZEK	C	-0.1%
AAON	B	-0.1%
RHI	D	-0.1%
LSTR	D	-0.1%
MSA	C	-0.1%
OSK	D	-0.1%
CGNX	D	-0.1%
CNM	F	-0.1%
ESAB	C	-0.09%
MDU	B	-0.09%
AGCO	D	-0.09%
GXO	D	-0.09%
FLS	D	-0.09%
LFUS	D	-0.09%
FOUR	C	-0.08%
VNT	D	-0.08%
ST	D	-0.08%
BILL	D	-0.08%
BC	C	-0.08%
SON	C	-0.08%
VMI	D	-0.08%
AWI	B	-0.08%
EEFT	D	-0.07%
SEE	D	-0.07%
MSM	D	-0.06%
SPR	D	-0.06%
SLGN	B	-0.06%
WU	D	-0.05%
MAN	C	-0.05%
GTES	C	-0.05%
CXT	D	-0.04%
HAYW	C	-0.03%
VSTS	D	-0.03%
ADT	D	-0.03%
SNDR	B	-0.02%
LOAR	C	-0.01%