RAVI vs. SPDV ETF Comparison

Comparison of FlexShares Ready Access Variable Income Fund (RAVI) to AAM S&P 500 High Dividend Value ETF (SPDV)

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

SPDV

AAM S&P 500 High Dividend Value ETF

SPDV Description

The investment seeks to track the total return performance, before fees and expenses, of the S&P 500 Dividend and Free Cash Flow Yield Index. The index is a rules-based, equal-weighted index that is designed to provide exposure to the constituents of the S&P 500® Index that exhibit both high dividend yield and sustainable dividend distribution characteristics, while maintaining diversified sector exposure. At least 80% of the fund?s net assets, plus borrowings for investment purposes, will be invested in equity securities that (i) are included in the S&P 500 Index and (ii) have had a positive indicated annual dividend yield within the past year.

Grade (RS Rating)

Last Trade

$35.05

Average Daily Volume

3,131

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RAVI	SPDV
30 Days	0.40%	5.50%
60 Days	0.65%	5.38%
90 Days	1.23%	8.87%
12 Months	5.50%	34.32%

14 Overlapping Holdings

Symbol	Grade	Weight in RAVI	Weight in SPDV	Overlap
ABBV	D	0.13%	1.6%	0.13%
BMY	B	0.43%	2.18%	0.43%
CMCSA	C	0.28%	1.9%	0.28%
CVS	D	0.16%	1.63%	0.16%
CVX	B	0.33%	1.74%	0.33%
GILD	B	0.59%	2.03%	0.59%
HPE	B	0.11%	1.77%	0.11%
KEY	A	0.16%	2.03%	0.16%
LYB	F	0.83%	1.45%	0.83%
NEE	D	0.57%	1.71%	0.57%
T	A	0.3%	2.01%	0.3%
TFC	B	0.59%	1.78%	0.59%
VLO	C	1.51%	1.59%	1.51%
VZ	B	0.1%	1.79%	0.1%

RAVI Overweight 87 Positions Relative to SPDV

Symbol	Grade	Weight
ED	D	1.05%
OGS	A	1.05%
OTIS	C	0.95%
PYPL	A	0.95%
KDP	D	0.95%
DHR	D	0.86%
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%
AIG	B	0.57%
SJM	D	0.57%
BAC	A	0.57%
AZO	C	0.52%
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%
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%
NDAQ	A	0.31%
ARCC	A	0.3%
HSBC	B	0.29%
CFG	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%
FOXA	C	0.21%
NYC	D	0.21%
CNP	A	0.2%
SBUX	B	0.18%
LUV	B	0.18%
MKC	D	0.17%
AEE	A	0.17%
BHF	B	0.17%
SEB	F	0.16%
UBS	B	0.16%
PSX	C	0.16%
AZN	F	0.15%
NWG	C	0.15%
BA	D	0.15%
ICE	D	0.15%
MUFG	B	0.14%
MET	A	0.13%
DHI	D	0.13%
AMT	D	0.13%
CNH	A	0.13%
EFX	D	0.1%
GM	B	0.1%
MDLZ	F	0.09%
R	B	0.08%
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 40 Positions Relative to SPDV

Symbol	Grade	Weight
VST	B	-3.59%
TPR	A	-2.34%
WMB	B	-2.33%
KMI	B	-2.24%
SNA	A	-2.23%
CMI	A	-2.16%
NRG	C	-2.15%
IP	B	-2.14%
CF	B	-2.12%
MMM	D	-2.08%
CSCO	A	-2.07%
SPG	C	-2.02%
BXP	D	-2.0%
WEC	A	-2.0%
IBM	C	-1.96%
HBAN	B	-1.96%
MO	A	-1.91%
TAP	C	-1.9%
USB	A	-1.9%
VTRS	B	-1.88%
OMC	C	-1.84%
IVZ	B	-1.76%
HAS	D	-1.75%
DOC	C	-1.74%
AMCR	D	-1.73%
UPS	C	-1.72%
HST	C	-1.7%
BBY	D	-1.67%
SWK	D	-1.66%
HPQ	B	-1.63%
IPG	C	-1.61%
KHC	D	-1.57%
CAG	D	-1.52%
ARE	D	-1.51%
ADM	F	-1.43%
LKQ	D	-1.41%
DOW	F	-1.38%
F	C	-1.32%
APA	F	-1.23%
SWKS	F	-1.23%