RAVI vs. PKW ETF Comparison

Comparison of FlexShares Ready Access Variable Income Fund (RAVI) to PowerShares Buyback Achievers (PKW)

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

$75.48

Average Daily Volume

73,267

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

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

$124.44

Average Daily Volume

17,125

Number of Holdings ^*

191

* may have additional holdings in another (foreign) market

Performance

Period	RAVI	PKW
30 Days	0.40%	8.50%
60 Days	0.65%	9.46%
90 Days	1.23%	12.55%
12 Months	5.50%	37.11%

12 Overlapping Holdings

Symbol	Grade	Weight in RAVI	Weight in PKW	Overlap
AIG	B	0.57%	1.6%	0.57%
AZO	C	0.52%	1.77%	0.52%
BHF	B	0.17%	0.1%	0.1%
CFG	B	0.29%	0.68%	0.29%
CMCSA	C	0.28%	4.88%	0.28%
FOXA	C	0.21%	0.33%	0.21%
MET	A	0.13%	1.91%	0.13%
PSX	C	0.16%	1.79%	0.16%
PYPL	A	0.95%	2.83%	0.95%
R	B	0.08%	0.23%	0.08%
SEB	F	0.16%	0.08%	0.08%
VLO	C	1.51%	1.51%	1.51%

RAVI Overweight 89 Positions Relative to PKW

Symbol	Grade	Weight
ED	D	1.05%
OGS	A	1.05%
OTIS	C	0.95%
KDP	D	0.95%
DHR	D	0.86%
LYB	F	0.83%
DTE	C	0.77%
GE	D	0.76%
TSN	B	0.7%
WM	A	0.69%
CI	D	0.67%
CM	A	0.62%
GP	F	0.59%
GILD	B	0.59%
TFC	B	0.59%
SJM	D	0.57%
NEE	D	0.57%
BAC	A	0.57%
NVDA	C	0.52%
BNS	A	0.52%
D	C	0.51%
BDX	F	0.51%
TD	F	0.51%
RY	B	0.51%
SYK	C	0.49%
CCI	D	0.49%
AON	A	0.46%
UNH	B	0.43%
BMY	B	0.43%
AMZN	C	0.42%
SCHW	A	0.42%
CRM	B	0.4%
VFC	C	0.39%
OGE	A	0.39%
ETR	B	0.38%
AEP	D	0.38%
CVX	B	0.33%
NDAQ	A	0.31%
ARCC	A	0.3%
T	A	0.3%
HSBC	B	0.29%
MLM	B	0.28%
DELL	C	0.28%
DB	D	0.28%
CP	D	0.27%
WFC	A	0.26%
CAT	B	0.26%
CLX	C	0.26%
LEN	C	0.26%
SO	D	0.26%
ATHS	C	0.26%
GS	B	0.26%
AL	A	0.25%
C	A	0.24%
CMS	C	0.24%
FIS	D	0.23%
MCHP	F	0.22%
FITB	B	0.22%
PPL	B	0.22%
NYC	D	0.21%
CNP	A	0.2%
SBUX	B	0.18%
LUV	B	0.18%
MKC	D	0.17%
AEE	A	0.17%
CVS	D	0.16%
KEY	A	0.16%
UBS	B	0.16%
AZN	F	0.15%
NWG	C	0.15%
BA	D	0.15%
ICE	D	0.15%
MUFG	B	0.14%
DHI	D	0.13%
AMT	D	0.13%
CNH	A	0.13%
ABBV	D	0.13%
HPE	B	0.11%
EFX	D	0.1%
GM	B	0.1%
VZ	B	0.1%
MDLZ	F	0.09%
HRL	D	0.07%
ROP	B	0.07%
DUK	C	0.07%
COF	B	0.06%
MS	B	0.06%
PCAR	B	0.05%
JPM	B	0.03%

RAVI Underweight 179 Positions Relative to PKW

Symbol	Grade	Weight
BKNG	B	-5.49%
TMUS	A	-5.44%
JNJ	D	-4.53%
LMT	D	-4.13%
FI	A	-4.0%
DE	B	-3.61%
APP	B	-2.89%
HCA	F	-2.83%
MCK	C	-2.61%
MAR	A	-2.59%
ORLY	B	-2.3%
CSX	B	-2.21%
AFL	B	-2.05%
HLT	A	-2.0%
MPC	F	-1.75%
VST	B	-1.64%
DFS	B	-1.42%
VRSK	A	-1.3%
HIG	B	-1.13%
DD	D	-1.12%
CNC	F	-1.01%
CAH	B	-0.95%
STT	A	-0.94%
PHM	C	-0.87%
GDDY	B	-0.85%
SYF	A	-0.83%
EXPE	B	-0.73%
STLD	B	-0.71%
BLDR	C	-0.68%
CSL	B	-0.66%
L	B	-0.6%
EXPD	C	-0.55%
TXT	D	-0.51%
JEF	A	-0.5%
TOL	A	-0.5%
EQH	B	-0.49%
THC	D	-0.48%
MGM	F	-0.37%
MUSA	B	-0.35%
PAG	B	-0.35%
WMS	F	-0.34%
CACI	D	-0.33%
EXP	B	-0.33%
PRI	A	-0.33%
ORI	A	-0.32%
CNM	D	-0.28%
DINO	F	-0.27%
HRB	D	-0.27%
WH	A	-0.25%
BERY	B	-0.25%
BRKR	F	-0.24%
BYD	B	-0.22%
MTN	C	-0.22%
WSC	D	-0.22%
CHH	A	-0.22%
MTG	B	-0.21%
AN	B	-0.21%
ARW	D	-0.2%
COOP	B	-0.2%
KBH	C	-0.19%
RH	B	-0.19%
CNX	B	-0.19%
GPI	B	-0.18%
VVV	F	-0.18%
AMG	B	-0.18%
PVH	C	-0.18%
SM	C	-0.17%
ABG	B	-0.17%
CRC	C	-0.17%
MATX	C	-0.17%
NXST	C	-0.17%
SLM	B	-0.17%
DDS	B	-0.17%
BC	C	-0.17%
OLN	F	-0.16%
NSIT	F	-0.16%
EEFT	B	-0.15%
IDCC	A	-0.15%
HGV	B	-0.14%
GOLF	B	-0.14%
TNET	D	-0.14%
SKYW	B	-0.14%
ASGN	D	-0.13%
CVCO	B	-0.13%
DXC	B	-0.12%
CAR	C	-0.12%
GFF	B	-0.12%
WU	D	-0.12%
CEIX	A	-0.12%
TNL	A	-0.12%
ASH	F	-0.12%
ASO	F	-0.11%
ATGE	B	-0.11%
NSA	C	-0.11%
HP	C	-0.11%
BTU	C	-0.11%
DOCN	D	-0.11%
HUN	F	-0.11%
FBP	B	-0.11%
SLVM	B	-0.11%
TGNA	B	-0.1%
LBRT	F	-0.1%
PK	B	-0.1%
DEI	A	-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%
PRG	B	-0.07%
GBX	A	-0.07%
HURN	B	-0.07%
IART	C	-0.06%
AZTA	D	-0.06%
CASH	B	-0.06%
SAH	B	-0.05%
PLAY	D	-0.05%
ATSG	B	-0.05%
PEB	D	-0.05%
XHR	A	-0.05%
PZZA	F	-0.05%
CSGS	B	-0.05%
NAVI	C	-0.05%
DXPE	A	-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	B	-0.03%
EGBN	B	-0.03%
ODP	F	-0.03%
JACK	D	-0.03%
ECVT	C	-0.03%
AMN	F	-0.03%
LILAK	F	-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	A	-0.02%
LXU	C	-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	F	-0.01%
DBI	F	-0.01%
ZYXI	D	-0.01%
ONTF	C	-0.01%
TASK	C	-0.01%
WSBF	B	-0.01%
RLGT	B	-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	C	-0.01%
NECB	B	-0.01%
KELYA	F	-0.01%
MX	F	-0.0%