SKOR vs. IMCV ETF Comparison

Comparison of FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) to iShares Morningstar Mid-Cap Value ETF (IMCV)

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

$49.14

Average Daily Volume

42,813

Number of Holdings ^*

305

* may have additional holdings in another (foreign) market

IMCV

iShares Morningstar Mid-Cap Value ETF

IMCV Description

The investment seeks to track the investment results of the Morningstar® US Mid Cap Broad Value IndexSM composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of stocks issued by mid-capitalization companies that have exhibited “value” characteristics as determined by Morningstar, Inc. (Morningstar or the index providerâ) proprietary index methodology.

Grade (RS Rating)

Last Trade

$76.68

Average Daily Volume

20,014

Number of Holdings ^*

303

* may have additional holdings in another (foreign) market

Performance

Period	SKOR	IMCV
30 Days	1.48%	4.21%
60 Days	3.20%	5.29%
90 Days	4.07%	8.97%
12 Months	10.15%	24.05%

116 Overlapping Holdings

	Symbol	Grade	Weight in SKOR	Weight in IMCV	Overlap
	AEE	C	0.25%	0.42%	0.25%
	AEP	C	0.02%	1.02%	0.02%
	AFG	B	0.08%	0.12%	0.08%
	AFL	C	0.04%	1.05%	0.04%
	AGR	B	0.09%	0.05%	0.05%
	AIG	D	0.04%	0.91%	0.04%
	ALL	B	0.15%	0.54%	0.15%
	ALLE	B	0.07%	0.1%	0.07%
	ALLY	F	0.14%	0.17%	0.14%
	AMCR	B	0.12%	0.3%	0.12%
	AMP	A	0.07%	0.27%	0.07%
	ARE	C	0.04%	0.25%	0.04%
	ATO	B	0.17%	0.39%	0.17%
	AVB	B	0.02%	0.32%	0.02%
	AVY	C	0.02%	0.16%	0.02%
	AWK	B	0.07%	0.27%	0.07%
	BAX	C	0.07%	0.38%	0.07%
	BG	D	0.08%	0.26%	0.08%
	BK	B	0.05%	0.96%	0.05%
	BXP	B	0.09%	0.24%	0.09%
	CARR	B	0.09%	0.5%	0.09%
	CCI	C	0.18%	0.96%	0.18%
	CE	F	0.07%	0.11%	0.07%
	CFG	C	0.07%	0.34%	0.07%
	CHTR	D	0.2%	0.63%	0.2%
	CLX	C	0.02%	0.14%	0.02%
	CMI	C	0.04%	0.25%	0.04%
	CMS	C	0.08%	0.25%	0.08%
	CNP	C	0.1%	0.33%	0.1%
	COF	B	0.02%	0.99%	0.02%
	CPB	C	0.06%	0.19%	0.06%
	CPT	B	0.07%	0.14%	0.07%
	D	C	0.08%	0.51%	0.08%
	DFS	B	0.11%	0.27%	0.11%
	DG	F	0.16%	0.35%	0.16%
	DGX	B	0.07%	0.32%	0.07%
	DHI	B	0.07%	1.11%	0.07%
	DINO	F	0.08%	0.14%	0.08%
	DLR	B	0.1%	0.26%	0.1%
	DLTR	F	0.05%	0.15%	0.05%
	DOV	B	0.07%	0.14%	0.07%
	DOW	D	0.17%	0.38%	0.17%
	DTE	C	0.09%	0.49%	0.09%
	EA	D	0.04%	0.19%	0.04%
	EBAY	B	0.08%	0.38%	0.08%
	ED	C	0.11%	0.67%	0.11%
	EIX	C	0.04%	0.61%	0.04%
	EQR	B	0.02%	0.3%	0.02%
	ES	C	0.04%	0.44%	0.04%
	ESS	B	0.07%	0.2%	0.07%
	FITB	B	0.09%	0.54%	0.09%
	FNF	B	0.03%	0.3%	0.03%
	FOXA	B	0.25%	0.17%	0.17%
	FTV	C	0.04%	0.14%	0.04%
	GIS	B	0.08%	0.78%	0.08%
	GLPI	C	0.08%	0.25%	0.08%
	GM	C	0.2%	0.99%	0.2%
	GPN	D	0.17%	0.32%	0.17%
	HBAN	B	0.08%	0.39%	0.08%
	HII	D	0.04%	0.08%	0.04%
	HPQ	D	0.07%	0.61%	0.07%
	HST	C	0.09%	0.23%	0.09%
	HUM	F	0.12%	0.72%	0.12%
	JBHT	D	0.12%	0.1%	0.1%
	K	B	0.11%	0.4%	0.11%
	KDP	B	0.08%	0.49%	0.08%
	KEY	B	0.08%	0.28%	0.08%
	KEYS	C	0.08%	0.27%	0.08%
	KIM	C	0.04%	0.08%	0.04%
	KMB	D	0.08%	0.58%	0.08%
	KMI	B	0.28%	0.78%	0.28%
	LEN	B	0.32%	0.03%	0.03%
	LEN	B	0.32%	0.83%	0.32%
	LH	C	0.11%	0.35%	0.11%
	LHX	C	0.1%	0.81%	0.1%
	LNT	B	0.1%	0.28%	0.1%
	MAA	B	0.02%	0.23%	0.02%
	MAS	B	0.19%	0.19%	0.19%
	MKC	C	0.07%	0.18%	0.07%
	MKL	C	0.11%	0.14%	0.11%
	NDAQ	A	0.08%	0.32%	0.08%
	NI	B	0.19%	0.28%	0.19%
	NSC	C	0.07%	1.04%	0.07%
	NTAP	D	0.07%	0.22%	0.07%
	O	C	0.12%	0.68%	0.12%
	OKE	B	0.14%	1.0%	0.14%
	OTIS	C	0.07%	0.28%	0.07%
	PCG	C	0.07%	0.46%	0.07%
	PEG	B	0.07%	0.78%	0.07%
	PHM	B	0.2%	0.31%	0.2%
	PKG	B	0.07%	0.35%	0.07%
	PPG	D	0.07%	0.34%	0.07%
	PRU	C	0.0%	0.79%	0.0%
	PSA	B	0.08%	0.55%	0.08%
	REG	C	0.06%	0.14%	0.06%
	RNR	C	0.04%	0.25%	0.04%
	RPM	B	0.04%	0.1%	0.04%
	RPRX	C	0.14%	0.21%	0.14%
	SJM	C	0.04%	0.24%	0.04%
	SPG	B	0.22%	0.94%	0.22%
	SRE	C	0.07%	0.98%	0.07%
	STLD	F	0.04%	0.31%	0.04%
	STT	A	0.07%	0.47%	0.07%
	SWK	B	0.11%	0.15%	0.11%
	SYF	C	0.08%	0.36%	0.08%
	TDY	B	0.14%	0.17%	0.14%
	TEL	D	0.07%	0.39%	0.07%
	TFC	C	0.06%	1.04%	0.06%
	TRMB	C	0.1%	0.09%	0.09%
	VLO	F	0.08%	0.82%	0.08%
	VTR	C	0.02%	0.32%	0.02%
	WEC	C	0.17%	0.56%	0.17%
	WPC	C	0.06%	0.26%	0.06%
	WTW	C	0.06%	0.28%	0.06%
	WY	C	0.1%	0.44%	0.1%
	XEL	B	0.14%	0.66%	0.14%

SKOR Overweight 190 Positions Relative to IMCV

	Symbol	Grade	Weight
	PEP	C	0.24%
	LMT	C	0.23%
	NXPI	F	0.21%
	VRSN	D	0.19%
	TPR	C	0.19%
	PAA	C	0.19%
	APD	B	0.19%
	TMO	B	0.19%
	NOC	B	0.19%
	CHD	D	0.18%
	ELV	C	0.18%
	JNJ	C	0.18%
	TD	B	0.17%
	PM	C	0.17%
	LII	B	0.16%
	CVS	D	0.16%
	ARW	C	0.15%
	ADI	C	0.15%
	CMCSA	D	0.14%
	CI	C	0.14%
	GD	B	0.14%
	TMUS	C	0.14%
	WU	F	0.13%
	BWA	D	0.13%
	WM	D	0.13%
	GILD	B	0.13%
	AMT	C	0.13%
	BRX	B	0.12%
	CME	C	0.12%
	T	C	0.12%
	INTC	F	0.12%
	APH	D	0.11%
	AMGN	B	0.11%
	CM	B	0.11%
	BHP	D	0.11%
	NVT	D	0.11%
	AMZN	C	0.11%
	ATHS	B	0.11%
	UNP	C	0.11%
	ARCC	B	0.11%
	BMO	C	0.11%
	ORCL	C	0.11%
	VRSK	D	0.1%
	BMY	C	0.1%
	BIDU	D	0.1%
	BKU	C	0.1%
	CB	B	0.1%
	INTU	C	0.1%
	MO	C	0.1%
	COST	B	0.1%
	SO	B	0.1%
	GS	C	0.1%
	V	C	0.1%
	VNT	F	0.09%
	IBM	B	0.09%
	THG	B	0.09%
	SBUX	C	0.09%
	MET	B	0.09%
	DHR	B	0.09%
	FHN	D	0.09%
	DIS	D	0.09%
	CMA	B	0.09%
	CL	D	0.09%
	MCK	F	0.09%
	ADBE	F	0.09%
	FLO	C	0.09%
	LAZ	B	0.09%
	MLM	D	0.09%
	BNS	B	0.09%
	AON	B	0.09%
	AAPL	C	0.09%
	BR	D	0.08%
	ADSK	C	0.08%
	AWH	F	0.08%
	QCOM	D	0.08%
	FAF	B	0.08%
	LEA	F	0.08%
	BDX	D	0.08%
	CSL	B	0.08%
	KLAC	D	0.08%
	HP	F	0.08%
	ORI	B	0.08%
	H	C	0.08%
	UPS	D	0.08%
	CBOE	C	0.08%
	KO	C	0.08%
	DSS	F	0.08%
	AMH	C	0.08%
	EW	F	0.08%
	WHR	D	0.08%
	ROP	C	0.08%
	BRO	C	0.08%
	WELL	C	0.08%
	TT	B	0.08%
	SPGI	B	0.08%
	NFG	B	0.08%
	ORLY	C	0.08%
	JEF	B	0.08%
	BLK	B	0.08%
	MMM	B	0.08%
	MU	F	0.08%
	DUK	C	0.08%
	ABBV	C	0.08%
	C	C	0.08%
	ADP	B	0.07%
	EMR	D	0.07%
	AVT	C	0.07%
	KMPR	D	0.07%
	PLD	C	0.07%
	SBRA	C	0.07%
	WB	D	0.07%
	ITW	C	0.07%
	A	C	0.07%
	BKH	B	0.07%
	GSBD	D	0.07%
	FMC	C	0.07%
	USB	B	0.07%
	TXN	C	0.07%
	CUBE	B	0.07%
	HUBB	B	0.07%
	MCO	B	0.07%
	MDLZ	B	0.07%
	AXP	B	0.07%
	EPD	B	0.07%
	BABA	B	0.07%
	HSBC	B	0.07%
	WFC	D	0.07%
	ROK	D	0.06%
	SKT	B	0.06%
	WAB	B	0.06%
	SCS	D	0.06%
	GL	C	0.06%
	BA	F	0.06%
	ECL	B	0.06%
	AL	D	0.06%
	PG	C	0.06%
	NNN	C	0.06%
	SITC	D	0.05%
	DT	C	0.05%
	EFX	B	0.05%
	RY	B	0.05%
	AER	B	0.05%
	AZO	D	0.05%
	ZTS	C	0.05%
	PDM	B	0.04%
	HPP	D	0.04%
	VOYA	B	0.04%
	KRG	B	0.04%
	AIZ	B	0.04%
	PGR	B	0.04%
	AXS	B	0.04%
	HIW	B	0.04%
	CSX	D	0.04%
	HON	D	0.04%
	MCD	B	0.04%
	MSI	B	0.04%
	MAR	C	0.04%
	CSCO	C	0.04%
	KRC	B	0.04%
	SCHW	D	0.04%
	SHW	B	0.04%
	RSG	D	0.04%
	LOW	B	0.04%
	MSFT	C	0.04%
	DB	B	0.04%
	MA	B	0.04%
	AVGO	C	0.04%
	NEE	C	0.04%
	MS	D	0.04%
	FLS	D	0.03%
	SYK	C	0.03%
	GOOGL	D	0.03%
	HCA	B	0.03%
	PNC	B	0.03%
	VZ	B	0.03%
	PH	B	0.02%
	CTAS	B	0.02%
	AAP	F	0.02%
	BDN	B	0.02%
	PYPL	B	0.02%
	MUFG	D	0.02%
	WMT	C	0.02%
	UNH	C	0.02%
	MMC	C	0.01%
	CP	C	0.01%
	JPM	D	0.01%
	EQIX	C	0.0%
	HD	B	0.0%
	OHI	B	0.0%
	BAC	D	0.0%

SKOR Underweight 187 Positions Relative to IMCV

	Symbol	Grade	Weight
	WMB	B	-1.02%
	PCAR	D	-0.92%
	FIS	B	-0.88%
	F	F	-0.79%
	KVUE	C	-0.76%
	EXC	C	-0.75%
	CNC	D	-0.75%
	FERG	D	-0.73%
	CTSH	C	-0.72%
	KR	C	-0.71%
	VICI	C	-0.66%
	HIG	B	-0.64%
	NUE	F	-0.64%
	GLW	C	-0.61%
	KHC	C	-0.59%
	TRV	C	-0.58%
	ADM	D	-0.56%
	GEV	B	-0.56%
	FANG	D	-0.56%
	MTB	B	-0.53%
	NVR	B	-0.53%
	BIIB	F	-0.53%
	ACGL	C	-0.53%
	LNG	C	-0.53%
	CAH	C	-0.51%
	IFF	B	-0.5%
	ETR	B	-0.5%
	NEM	B	-0.5%
	URI	B	-0.48%
	DVN	F	-0.47%
	PPL	C	-0.45%
	LYB	D	-0.45%
	EXR	B	-0.45%
	MCHP	F	-0.44%
	TROW	D	-0.43%
	HPE	D	-0.42%
	SW	B	-0.42%
	FE	C	-0.42%
	CTVA	B	-0.41%
	STX	C	-0.39%
	WDC	D	-0.39%
	RF	B	-0.38%
	JCI	B	-0.38%
	OMC	B	-0.37%
	ON	D	-0.37%
	PFG	B	-0.36%
	COR	D	-0.36%
	TRGP	B	-0.36%
	BBY	C	-0.36%
	GEHC	C	-0.35%
	HOLX	B	-0.35%
	WBD	D	-0.35%
	STZ	D	-0.35%
	DD	B	-0.34%
	NTRS	A	-0.34%
	EXPD	C	-0.32%
	BKR	C	-0.32%
	IRM	C	-0.32%
	DELL	D	-0.32%
	CCL	C	-0.32%
	SWKS	D	-0.31%
	UAL	C	-0.31%
	EG	C	-0.31%
	IP	B	-0.31%
	THC	A	-0.3%
	DOC	C	-0.3%
	RS	D	-0.3%
	DAL	C	-0.3%
	SSNC	B	-0.3%
	ZM	C	-0.3%
	CAG	C	-0.29%
	IQV	C	-0.29%
	MRO	C	-0.28%
	CF	C	-0.27%
	OC	D	-0.27%
	L	C	-0.27%
	CBRE	A	-0.26%
	EVRG	B	-0.26%
	VTRS	D	-0.26%
	RGA	C	-0.26%
	AES	C	-0.25%
	HSY	C	-0.25%
	UTHR	C	-0.24%
	MRNA	F	-0.24%
	CINF	B	-0.24%
	RCL	B	-0.23%
	EMN	B	-0.23%
	EQH	C	-0.23%
	JNPR	B	-0.23%
	LDOS	B	-0.23%
	IPG	C	-0.22%
	BLDR	C	-0.22%
	NRG	C	-0.21%
	GPC	D	-0.21%
	HAL	F	-0.21%
	VST	C	-0.2%
	TER	D	-0.2%
	VLTO	C	-0.2%
	ZBH	F	-0.2%
	LKQ	F	-0.2%
	NWSA	D	-0.19%
	CPNG	B	-0.19%
	CTRA	D	-0.19%
	OVV	F	-0.19%
	CNH	D	-0.18%
	LUV	C	-0.18%
	TAP	D	-0.18%
	SOLV	C	-0.18%
	DRI	B	-0.18%
	SNA	C	-0.18%
	UNM	B	-0.18%
	TOL	B	-0.18%
	BALL	C	-0.17%
	APA	F	-0.17%
	RJF	C	-0.17%
	MOH	D	-0.17%
	GRMN	D	-0.17%
	ULTA	D	-0.17%
	EXPE	C	-0.16%
	MOS	F	-0.16%
	MSTR	D	-0.16%
	APTV	D	-0.16%
	RVTY	B	-0.16%
	CG	D	-0.16%
	TXT	D	-0.16%
	TSN	C	-0.16%
	TSCO	C	-0.16%
	AR	F	-0.15%
	DKNG	C	-0.15%
	FLEX	C	-0.15%
	AKAM	D	-0.15%
	GEN	B	-0.14%
	ACI	F	-0.14%
	AVTR	B	-0.14%
	PINS	F	-0.14%
	WRB	C	-0.14%
	UHS	B	-0.14%
	CHK	D	-0.14%
	USFD	B	-0.13%
	DKS	D	-0.13%
	POOL	C	-0.13%
	CCK	A	-0.13%
	WAT	C	-0.13%
	TFX	C	-0.13%
	FFIV	B	-0.13%
	WSM	D	-0.12%
	COO	B	-0.12%
	HRL	C	-0.12%
	ALGN	D	-0.12%
	ENTG	F	-0.12%
	WBA	F	-0.12%
	WTRG	D	-0.12%
	EQT	D	-0.12%
	SNX	D	-0.11%
	BEN	F	-0.11%
	KMX	D	-0.11%
	SIRI	C	-0.11%
	J	C	-0.11%
	ACM	B	-0.1%
	BLD	D	-0.1%
	ELS	C	-0.1%
	CPAY	B	-0.1%
	SCI	B	-0.1%
	UDR	C	-0.1%
	EPAM	F	-0.1%
	JBL	D	-0.1%
	BJ	D	-0.1%
	INCY	C	-0.09%
	ALB	D	-0.09%
	BAH	C	-0.09%
	MGM	F	-0.09%
	FOX	B	-0.09%
	PNR	B	-0.08%
	ZBRA	B	-0.08%
	XPO	D	-0.08%
	DVA	B	-0.08%
	QRVO	F	-0.08%
	CASY	D	-0.08%
	RRX	C	-0.08%
	CRL	F	-0.07%
	UHAL	A	-0.07%
	PAG	D	-0.06%
	AOS	D	-0.05%
	WLK	D	-0.05%
	NWS	D	-0.05%
	COTY	F	-0.02%
	UHAL	A	-0.01%

SKOR: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Banks - Global Diversified Industrials Banks - Regional - US Credit Services REIT - Retail REIT - Office Business Services Insurance - Property & Casualty Asset Management Capital Markets Diagnostics & Research Packaged Foods REIT - Residential Semiconductors Specialty Retail Aerospace & Defense Drug Manufacturers - Major Health Care Plans Household & Personal Products

Keywords: S&P 500 Nasdaq 100 Insurance Bank Real Estate Investment Trust Natural Gas Dow Jones Component Electricity Banking Investment Bank Insurance Products Financial Products Cash Management Chemical Computing Commercial Banking Electronics Real Estate Market Telecommunications Aerospace

IMCV: Top Represented Industries & Keywords

Industries: Utilities - Regulated Electric Oil & Gas E&P Packaged Foods Specialty Retail Asset Management Banks - Regional - US Insurance - Property & Casualty REIT - Residential Specialty Chemicals Utilities - Diversified Business Services Diagnostics & Research Diversified Industrials Packaging & Containers Oil & Gas Midstream Residential Construction Scientific & Technical Instruments Biotechnology Broadcasting - TV Building Materials

Keywords: S&P 500 Natural Gas Electricity Nasdaq 100 Insurance Real Estate Investment Trust Aerospace Electronics Insurance Products Beverage Computing Bank Chemical Banking Building Materials Disability Food Products Petroleum Industry Telecommunications Financial Products