SKOR vs. BNDX ETF Comparison

Comparison of FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) to Vanguard Total International Bond ETF (BNDX)

SKOR

FlexShares Credit-Scored US Corporate Bond Index Fund

SKOR Description

The investment seeks the price and yield performance, before fees and expenses, of the Northern Trust Credit-Scored US Corporate Bond IndexSM. The fund generally will invest at least 80% of its total assets in the securities of its underlying index. The index reflects the performance of a portfolio of US-dollar denominated bonds of companies that are considered by the index Provider to have higher credit quality, lower risk of default and the potential for higher yield, price appreciation and liquidity relative to the universe of securities comprising the Northern Trust US Investment-Grade Corporate Bond IndexSM. The fund is non-diversified

Grade (RS Rating)

Last Trade

$49.18

Average Daily Volume

44,343

Number of Holdings ^*

305

* may have additional holdings in another (foreign) market

BNDX

Vanguard Total International Bond ETF

BNDX Description

The investment seeks to track the performance of a benchmark index that measures the investment return of non-U.S. dollar-denominated investment-grade bonds. The fund employs an indexing investment approach designed to track the performance of the Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). This Index provides a broad-based measure of the global, investment-grade, fixed-rate debt markets. It invests by sampling the index. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$50.17

Average Daily Volume

2,675,005

Number of Holdings ^*

154

* may have additional holdings in another (foreign) market

Performance

Period	SKOR	BNDX
30 Days	1.31%	0.58%
60 Days	3.21%	2.72%
90 Days	4.14%	3.15%
12 Months	10.62%	9.11%

89 Overlapping Holdings

Symbol	Grade	Weight in SKOR	Weight in BNDX	Overlap
AAPL	C	0.09%	0.01%	0.01%
ABBV	C	0.08%	0.01%	0.01%
AIG	D	0.04%	0.01%	0.01%
AL	D	0.06%	0.01%	0.01%
AMCR	C	0.12%	0.01%	0.01%
AMGN	B	0.11%	0.01%	0.01%
AMT	C	0.13%	0.01%	0.01%
AON	B	0.09%	0.01%	0.01%
APD	B	0.19%	0.01%	0.01%
BAC	D	0.0%	0.01%	0.0%
BAX	C	0.07%	0.01%	0.01%
BDX	F	0.08%	0.01%	0.01%
BG	D	0.08%	0.01%	0.01%
BHP	D	0.11%	0.01%	0.01%
BLK	B	0.08%	0.01%	0.01%
BMO	C	0.11%	0.01%	0.01%
BMY	C	0.1%	0.01%	0.01%
BNS	A	0.09%	0.01%	0.01%
BWA	D	0.13%	0.01%	0.01%
C	D	0.08%	0.01%	0.01%
CB	B	0.1%	0.01%	0.01%
CE	F	0.07%	0.01%	0.01%
CL	C	0.09%	0.01%	0.01%
CM	A	0.11%	0.01%	0.01%
CMCSA	D	0.14%	0.01%	0.01%
COF	A	0.02%	0.01%	0.01%
CP	C	0.01%	0.01%	0.01%
DB	B	0.04%	0.01%	0.01%
DHR	C	0.09%	0.01%	0.01%
DIS	D	0.09%	0.01%	0.01%
DLR	B	0.1%	0.01%	0.01%
DOV	B	0.07%	0.01%	0.01%
DOW	D	0.17%	0.01%	0.01%
DT	C	0.05%	0.01%	0.01%
ECL	A	0.06%	0.01%	0.01%
EMR	D	0.07%	0.01%	0.01%
GIS	B	0.08%	0.01%	0.01%
GM	B	0.2%	0.01%	0.01%
GS	C	0.1%	0.01%	0.01%
HON	D	0.04%	0.01%	0.01%
HSBC	B	0.07%	0.01%	0.01%
IBM	A	0.09%	0.01%	0.01%
INTC	F	0.12%	0.01%	0.01%
ITW	C	0.07%	0.01%	0.01%
JNJ	C	0.18%	0.01%	0.01%
JPM	D	0.01%	0.01%	0.01%
K	A	0.11%	0.01%	0.01%
KMI	A	0.28%	0.01%	0.01%
KO	B	0.08%	0.01%	0.01%
MA	B	0.04%	0.01%	0.01%
MCD	B	0.04%	0.01%	0.01%
MCK	F	0.09%	0.01%	0.01%
MCO	A	0.07%	0.01%	0.01%
MDLZ	C	0.07%	0.01%	0.01%
MET	A	0.09%	0.01%	0.01%
MMM	A	0.08%	0.01%	0.01%
MO	C	0.1%	0.01%	0.01%
MS	C	0.04%	0.01%	0.01%
MSFT	C	0.04%	0.01%	0.01%
MUFG	D	0.02%	0.01%	0.01%
NDAQ	A	0.08%	0.01%	0.01%
NEE	C	0.04%	0.01%	0.01%
O	C	0.12%	0.01%	0.01%
ORCL	B	0.11%	0.01%	0.01%
PEP	D	0.24%	0.01%	0.01%
PG	C	0.06%	0.01%	0.01%
PH	A	0.02%	0.01%	0.01%
PLD	C	0.07%	0.01%	0.01%
PM	C	0.17%	0.01%	0.01%
PPG	D	0.07%	0.01%	0.01%
PSA	B	0.08%	0.01%	0.01%
RY	C	0.05%	0.01%	0.01%
SO	A	0.1%	0.01%	0.01%
SPG	A	0.22%	0.01%	0.01%
SYK	C	0.03%	0.01%	0.01%
T	C	0.12%	0.01%	0.01%
TD	A	0.17%	0.01%	0.01%
TEL	D	0.07%	0.01%	0.01%
TMO	C	0.19%	0.01%	0.01%
UPS	F	0.08%	0.01%	0.01%
USB	B	0.07%	0.01%	0.01%
VTR	C	0.02%	0.01%	0.01%
VZ	B	0.03%	0.01%	0.01%
WELL	C	0.08%	0.01%	0.01%
WFC	D	0.07%	0.01%	0.01%
WHR	C	0.08%	0.01%	0.01%
WM	D	0.13%	0.01%	0.01%
WMT	B	0.02%	0.01%	0.01%
WPC	C	0.06%	0.01%	0.01%

SKOR Overweight 216 Positions Relative to BNDX

Symbol	Grade	Weight
LEN	C	0.32%
FOXA	B	0.25%
AEE	A	0.25%
LMT	B	0.23%
NXPI	D	0.21%
CHTR	D	0.2%
PHM	B	0.2%
VRSN	D	0.19%
NI	B	0.19%
MAS	B	0.19%
TPR	C	0.19%
PAA	C	0.19%
NOC	A	0.19%
CHD	C	0.18%
ELV	C	0.18%
CCI	C	0.18%
GPN	D	0.17%
WEC	B	0.17%
ATO	B	0.17%
DG	F	0.16%
LII	B	0.16%
CVS	F	0.16%
ARW	C	0.15%
ALL	B	0.15%
ADI	C	0.15%
RPRX	D	0.14%
XEL	B	0.14%
TDY	C	0.14%
CI	C	0.14%
ALLY	D	0.14%
OKE	B	0.14%
GD	B	0.14%
TMUS	C	0.14%
WU	D	0.13%
GILD	B	0.13%
JBHT	D	0.12%
BRX	B	0.12%
CME	C	0.12%
HUM	F	0.12%
APH	C	0.11%
SWK	B	0.11%
ED	C	0.11%
MKL	C	0.11%
NVT	D	0.11%
AMZN	C	0.11%
ATHS	A	0.11%
UNP	C	0.11%
ARCC	B	0.11%
DFS	B	0.11%
LH	C	0.11%
VRSK	D	0.1%
BIDU	F	0.1%
WY	C	0.1%
CNP	D	0.1%
LNT	B	0.1%
BKU	D	0.1%
TRMB	C	0.1%
INTU	C	0.1%
COST	B	0.1%
LHX	C	0.1%
V	C	0.1%
VNT	F	0.09%
THG	C	0.09%
SBUX	C	0.09%
CARR	B	0.09%
FHN	D	0.09%
DTE	B	0.09%
BXP	B	0.09%
CMA	A	0.09%
AGR	B	0.09%
HST	C	0.09%
ADBE	F	0.09%
FLO	C	0.09%
LAZ	A	0.09%
MLM	D	0.09%
FITB	B	0.09%
KMB	D	0.08%
BR	D	0.08%
AFG	B	0.08%
ADSK	C	0.08%
AWH	F	0.08%
QCOM	F	0.08%
FAF	C	0.08%
LEA	F	0.08%
HBAN	B	0.08%
EBAY	B	0.08%
CSL	B	0.08%
CMS	B	0.08%
KLAC	D	0.08%
HP	D	0.08%
ORI	B	0.08%
H	C	0.08%
CBOE	C	0.08%
DSS	F	0.08%
AMH	C	0.08%
VLO	F	0.08%
EW	F	0.08%
DINO	F	0.08%
KEYS	C	0.08%
KDP	B	0.08%
ROP	C	0.08%
BRO	C	0.08%
TT	A	0.08%
SPGI	A	0.08%
NFG	B	0.08%
ORLY	D	0.08%
JEF	B	0.08%
KEY	B	0.08%
MU	F	0.08%
DUK	B	0.08%
GLPI	C	0.08%
SYF	C	0.08%
D	B	0.08%
ADP	B	0.07%
AVT	C	0.07%
KMPR	D	0.07%
NTAP	D	0.07%
DHI	C	0.07%
PCG	B	0.07%
DGX	C	0.07%
CPT	B	0.07%
SBRA	C	0.07%
WB	F	0.07%
ALLE	C	0.07%
A	C	0.07%
BKH	B	0.07%
ESS	C	0.07%
GSBD	D	0.07%
PKG	B	0.07%
FMC	C	0.07%
NSC	C	0.07%
MKC	C	0.07%
AWK	C	0.07%
TXN	C	0.07%
AMP	B	0.07%
CUBE	B	0.07%
HUBB	A	0.07%
OTIS	C	0.07%
CFG	C	0.07%
STT	B	0.07%
SRE	B	0.07%
PEG	A	0.07%
HPQ	D	0.07%
AXP	B	0.07%
EPD	B	0.07%
BABA	B	0.07%
ROK	F	0.06%
SKT	A	0.06%
REG	C	0.06%
CPB	B	0.06%
WAB	A	0.06%
SCS	D	0.06%
GL	C	0.06%
BA	F	0.06%
WTW	C	0.06%
TFC	D	0.06%
NNN	C	0.06%
SITC	D	0.05%
EFX	C	0.05%
BK	A	0.05%
AER	B	0.05%
DLTR	F	0.05%
AZO	D	0.05%
ZTS	C	0.05%
PDM	C	0.04%
KIM	C	0.04%
STLD	D	0.04%
HPP	F	0.04%
VOYA	B	0.04%
KRG	C	0.04%
FTV	C	0.04%
RNR	B	0.04%
AIZ	B	0.04%
SJM	C	0.04%
RPM	B	0.04%
EA	D	0.04%
ARE	C	0.04%
CMI	C	0.04%
PGR	A	0.04%
HII	D	0.04%
AXS	B	0.04%
HIW	B	0.04%
CSX	D	0.04%
AFL	C	0.04%
ES	C	0.04%
MSI	B	0.04%
MAR	C	0.04%
CSCO	B	0.04%
KRC	B	0.04%
SCHW	D	0.04%
SHW	B	0.04%
RSG	D	0.04%
LOW	A	0.04%
EIX	C	0.04%
AVGO	C	0.04%
FLS	D	0.03%
GOOGL	D	0.03%
FNF	B	0.03%
HCA	A	0.03%
PNC	A	0.03%
CTAS	C	0.02%
AAP	F	0.02%
BDN	C	0.02%
MAA	C	0.02%
EQR	C	0.02%
PYPL	B	0.02%
AVB	C	0.02%
CLX	C	0.02%
AVY	D	0.02%
AEP	C	0.02%
UNH	C	0.02%
MMC	C	0.01%
EQIX	B	0.0%
HD	A	0.0%
OHI	C	0.0%
PRU	C	0.0%

SKOR Underweight 65 Positions Relative to BNDX

Symbol	Grade	Weight
SLB	F	-0.01%
SCOR	F	-0.01%
RTX	C	-0.01%
ZBH	F	-0.01%
XYL	D	-0.01%
WBA	F	-0.01%
VTRS	D	-0.01%
VFC	C	-0.01%
TAP	D	-0.01%
SYY	D	-0.01%
EMN	B	-0.01%
EEFT	D	-0.01%
MRK	D	-0.01%
MP	D	-0.01%
EDC	D	-0.01%
DXC	C	-0.01%
DSM	B	-0.01%
MHK	C	-0.01%
CCEP	B	-0.01%
MAN	C	-0.01%
LYB	F	-0.01%
LLY	C	-0.01%
BX	B	-0.01%
BSX	B	-0.01%
IFF	C	-0.01%
KKR	A	-0.01%
HOG	C	-0.01%
BIP	A	-0.01%
PPL	B	-0.01%
PFE	C	-0.01%
GLW	B	-0.01%
OMC	B	-0.01%
OBND	A	-0.01%
BACA	F	-0.01%
AZN	D	-0.01%
ASML	F	-0.01%
APTV	D	-0.01%
FDX	F	-0.01%
ETN	C	-0.01%
DE	B	-0.01%
SE	A	-0.01%
XOM	D	-0.01%
VOD	C	-0.01%
CRH	A	-0.01%
ADM	D	-0.01%
DHY	B	-0.01%
MDT	C	-0.01%
LIN	B	-0.01%
CAF	F	-0.01%
BKNG	B	-0.01%
JCI	B	-0.01%
GE	A	-0.01%
GSK	D	-0.01%
EQNR	F	-0.01%
FIS	B	-0.01%
KSA	C	-0.01%
ABT	C	-0.01%
UBS	D	-0.01%
SEB	C	-0.01%
STLA	F	-0.01%
EDF	C	-0.01%
NWG	C	-0.01%
COE	C	-0.01%
CAN	D	-0.01%
BGB	A	-0.01%