SKOR vs. VFMV ETF Comparison

Comparison of FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) to Vanguard U.S. Minimum Volatility ETF (VFMV)

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

$48.67

Average Daily Volume

48,998

Number of Holdings ^*

305

* may have additional holdings in another (foreign) market

VFMV

Vanguard U.S. Minimum Volatility ETF

VFMV Description

The investment seeks to provide long-term capital appreciation with lower volatility relative to the broad U.S. equity market. The fund invests primarily in a group of U.S. common stocks that together are deemed by the advisor to have the potential to generate lower volatility relative to the broad U.S. equity market. The portfolio will include a diverse mix of companies representing many different market sectors and industry groups. Under normal circumstances, at least 80% of the fund's assets will be invested in securities issued by U.S. companies.

Grade (RS Rating)

Last Trade

$121.24

Average Daily Volume

7,749

Number of Holdings ^*

147

* may have additional holdings in another (foreign) market

Performance

Period	SKOR	VFMV
30 Days	0.12%	0.72%
60 Days	1.49%	6.93%
90 Days	2.93%	7.44%
12 Months	10.67%	28.66%

58 Overlapping Holdings

Symbol	Grade	Weight in SKOR	Weight in VFMV	Overlap
AAPL	C	0.09%	0.64%	0.09%
ABBV	C	0.08%	1.34%	0.08%
ADI	B	0.15%	1.42%	0.15%
AMGN	D	0.11%	0.64%	0.11%
AMZN	C	0.11%	0.11%	0.11%
AVGO	B	0.04%	0.71%	0.04%
AZO	D	0.05%	0.42%	0.05%
BMY	A	0.1%	0.31%	0.1%
CB	A	0.1%	0.08%	0.08%
CBOE	B	0.08%	1.13%	0.08%
CHD	D	0.18%	1.28%	0.18%
CL	D	0.09%	1.05%	0.09%
CME	A	0.12%	1.19%	0.12%
CMS	A	0.08%	0.03%	0.03%
CSCO	A	0.04%	1.46%	0.04%
DTE	B	0.09%	0.04%	0.04%
DUK	C	0.08%	1.31%	0.08%
EA	D	0.04%	1.48%	0.04%
ED	C	0.11%	0.51%	0.11%
FLO	D	0.09%	0.47%	0.09%
GD	C	0.14%	1.43%	0.14%
GILD	A	0.13%	0.89%	0.13%
GIS	C	0.08%	0.98%	0.08%
GOOGL	B	0.03%	0.87%	0.03%
HPQ	B	0.07%	0.72%	0.07%
IBM	A	0.09%	1.31%	0.09%
JNJ	D	0.18%	1.46%	0.18%
K	B	0.11%	0.4%	0.11%
KLAC	B	0.08%	0.09%	0.08%
KMB	D	0.08%	0.07%	0.07%
KMI	A	0.28%	0.24%	0.24%
KO	C	0.08%	0.46%	0.08%
LMT	A	0.23%	1.44%	0.23%
MCD	A	0.04%	1.24%	0.04%
MCK	F	0.09%	1.5%	0.09%
MDLZ	D	0.07%	0.39%	0.07%
MO	D	0.1%	0.28%	0.1%
MSFT	D	0.04%	0.45%	0.04%
MSI	A	0.04%	0.03%	0.03%
MU	D	0.08%	0.04%	0.04%
NOC	B	0.19%	1.27%	0.19%
NTAP	D	0.07%	1.57%	0.07%
ORLY	A	0.08%	1.33%	0.08%
PEP	F	0.24%	0.06%	0.06%
PG	D	0.06%	1.45%	0.06%
PGR	B	0.04%	1.49%	0.04%
QCOM	D	0.08%	0.69%	0.08%
ROP	D	0.08%	1.5%	0.08%
RSG	D	0.04%	1.39%	0.04%
T	B	0.12%	0.51%	0.12%
TMUS	A	0.14%	1.56%	0.14%
TXN	C	0.07%	1.54%	0.07%
UNH	B	0.02%	0.85%	0.02%
V	B	0.1%	0.44%	0.1%
VZ	C	0.03%	1.2%	0.03%
WEC	B	0.17%	0.39%	0.17%
WM	B	0.13%	1.46%	0.13%
WMT	A	0.02%	1.47%	0.02%

SKOR Overweight 247 Positions Relative to VFMV

Symbol	Grade	Weight
LEN	C	0.32%
FOXA	B	0.25%
AEE	A	0.25%
SPG	A	0.22%
NXPI	F	0.21%
CHTR	D	0.2%
GM	D	0.2%
PHM	C	0.2%
VRSN	C	0.19%
NI	A	0.19%
MAS	C	0.19%
TPR	B	0.19%
PAA	B	0.19%
APD	C	0.19%
TMO	D	0.19%
ELV	F	0.18%
CCI	D	0.18%
TD	B	0.17%
DOW	B	0.17%
GPN	F	0.17%
ATO	A	0.17%
PM	D	0.17%
DG	F	0.16%
LII	C	0.16%
CVS	D	0.16%
ARW	C	0.15%
ALL	A	0.15%
RPRX	D	0.14%
XEL	C	0.14%
CMCSA	B	0.14%
TDY	A	0.14%
CI	D	0.14%
ALLY	F	0.14%
OKE	A	0.14%
WU	D	0.13%
BWA	C	0.13%
AMT	D	0.13%
JBHT	D	0.12%
BRX	C	0.12%
O	C	0.12%
AMCR	C	0.12%
INTC	D	0.12%
HUM	F	0.12%
APH	D	0.11%
CM	C	0.11%
SWK	C	0.11%
BHP	B	0.11%
MKL	B	0.11%
NVT	C	0.11%
ATHS	A	0.11%
UNP	F	0.11%
ARCC	A	0.11%
BMO	B	0.11%
DFS	A	0.11%
LH	D	0.11%
ORCL	A	0.11%
VRSK	D	0.1%
DLR	C	0.1%
BIDU	C	0.1%
WY	C	0.1%
CNP	B	0.1%
LNT	B	0.1%
BKU	D	0.1%
TRMB	B	0.1%
INTU	F	0.1%
COST	C	0.1%
SO	A	0.1%
GS	B	0.1%
LHX	A	0.1%
VNT	F	0.09%
THG	A	0.09%
SBUX	B	0.09%
MET	A	0.09%
DHR	D	0.09%
CARR	A	0.09%
FHN	D	0.09%
DIS	D	0.09%
BXP	B	0.09%
CMA	C	0.09%
AGR	C	0.09%
HST	D	0.09%
ADBE	F	0.09%
LAZ	C	0.09%
MLM	F	0.09%
BNS	C	0.09%
AON	A	0.09%
FITB	C	0.09%
BR	B	0.08%
AFG	A	0.08%
PSA	C	0.08%
ADSK	B	0.08%
AWH	F	0.08%
BG	F	0.08%
FAF	C	0.08%
LEA	F	0.08%
HBAN	B	0.08%
BDX	C	0.08%
EBAY	A	0.08%
CSL	A	0.08%
HP	D	0.08%
ORI	A	0.08%
H	B	0.08%
UPS	D	0.08%
DSS	F	0.08%
AMH	D	0.08%
VLO	F	0.08%
EW	F	0.08%
DINO	F	0.08%
KEYS	B	0.08%
KDP	C	0.08%
NDAQ	C	0.08%
WHR	C	0.08%
BRO	A	0.08%
WELL	C	0.08%
TT	A	0.08%
SPGI	C	0.08%
NFG	A	0.08%
JEF	A	0.08%
BLK	A	0.08%
KEY	B	0.08%
MMM	C	0.08%
GLPI	C	0.08%
SYF	A	0.08%
D	A	0.08%
C	B	0.08%
ADP	A	0.07%
EMR	B	0.07%
AVT	B	0.07%
KMPR	D	0.07%
PLD	D	0.07%
DHI	C	0.07%
PCG	C	0.07%
PPG	D	0.07%
DGX	D	0.07%
CPT	C	0.07%
SBRA	C	0.07%
WB	B	0.07%
ALLE	A	0.07%
BAX	D	0.07%
CE	D	0.07%
ITW	C	0.07%
DOV	C	0.07%
A	B	0.07%
BKH	C	0.07%
ESS	D	0.07%
GSBD	D	0.07%
PKG	B	0.07%
FMC	C	0.07%
NSC	C	0.07%
TEL	D	0.07%
MKC	C	0.07%
USB	C	0.07%
AWK	D	0.07%
AMP	A	0.07%
CUBE	C	0.07%
HUBB	A	0.07%
OTIS	A	0.07%
CFG	C	0.07%
MCO	D	0.07%
STT	A	0.07%
SRE	C	0.07%
PEG	A	0.07%
AXP	A	0.07%
EPD	A	0.07%
BABA	A	0.07%
HSBC	A	0.07%
WFC	B	0.07%
ROK	D	0.06%
SKT	A	0.06%
REG	C	0.06%
CPB	D	0.06%
WAB	A	0.06%
SCS	D	0.06%
GL	C	0.06%
BA	F	0.06%
ECL	C	0.06%
WPC	C	0.06%
AL	D	0.06%
WTW	C	0.06%
TFC	D	0.06%
NNN	C	0.06%
SITC	D	0.05%
DT	B	0.05%
EFX	D	0.05%
RY	C	0.05%
BK	A	0.05%
AER	C	0.05%
DLTR	F	0.05%
ZTS	C	0.05%
PDM	C	0.04%
KIM	C	0.04%
STLD	C	0.04%
HPP	F	0.04%
VOYA	A	0.04%
KRG	C	0.04%
FTV	C	0.04%
RNR	A	0.04%
AIZ	B	0.04%
SJM	D	0.04%
RPM	A	0.04%
ARE	D	0.04%
CMI	A	0.04%
HII	F	0.04%
AXS	A	0.04%
HIW	C	0.04%
AIG	C	0.04%
CSX	D	0.04%
AFL	A	0.04%
HON	C	0.04%
ES	D	0.04%
MAR	A	0.04%
KRC	C	0.04%
SCHW	D	0.04%
SHW	C	0.04%
LOW	C	0.04%
DB	A	0.04%
EIX	C	0.04%
MA	A	0.04%
NEE	C	0.04%
MS	A	0.04%
FLS	A	0.03%
SYK	C	0.03%
FNF	C	0.03%
HCA	C	0.03%
PNC	C	0.03%
PH	A	0.02%
CTAS	C	0.02%
AAP	F	0.02%
BDN	B	0.02%
MAA	D	0.02%
EQR	C	0.02%
PYPL	A	0.02%
AVB	C	0.02%
CLX	C	0.02%
AVY	D	0.02%
VTR	C	0.02%
COF	A	0.02%
AEP	C	0.02%
MUFG	D	0.02%
MMC	D	0.01%
CP	C	0.01%
JPM	C	0.01%
EQIX	C	0.0%
HD	A	0.0%
OHI	C	0.0%
PRU	B	0.0%
BAC	B	0.0%

SKOR Underweight 89 Positions Relative to VFMV

Symbol	Grade	Weight
CVLT	B	-1.63%
TJX	D	-1.56%
VECO	F	-1.49%
MUSA	D	-1.43%
XOM	A	-1.42%
KEX	C	-1.4%
MRK	F	-1.39%
IDT	C	-1.35%
REGN	D	-1.27%
COR	F	-1.27%
FCN	C	-1.21%
IDCC	A	-1.14%
DLB	D	-1.06%
LRN	D	-1.05%
DOX	B	-1.03%
WMB	A	-0.97%
HSTM	B	-0.97%
MGEE	C	-0.96%
LLY	D	-0.92%
CRUS	D	-0.86%
SAFT	D	-0.86%
GPOR	B	-0.85%
INST	C	-0.83%
NSIT	B	-0.83%
CHE	D	-0.81%
LAUR	C	-0.79%
NABL	F	-0.78%
BLKB	C	-0.78%
CVX	B	-0.77%
CAH	B	-0.75%
WTM	C	-0.75%
GOOG	B	-0.7%
OSIS	C	-0.7%
YELP	D	-0.63%
MCS	B	-0.61%
META	A	-0.6%
INSW	B	-0.55%
MATX	C	-0.54%
PBH	D	-0.52%
NEU	F	-0.49%
FANG	D	-0.45%
HSY	D	-0.45%
AJG	C	-0.43%
TRV	B	-0.43%
THFF	D	-0.42%
RLI	A	-0.36%
NVEC	D	-0.35%
OLLI	C	-0.34%
AMSF	B	-0.34%
JBSS	F	-0.33%
RTX	A	-0.33%
CASS	F	-0.32%
ROL	C	-0.29%
LDOS	A	-0.29%
BRK.A	B	-0.29%
IMMR	D	-0.28%
MTSI	B	-0.26%
LOPE	D	-0.25%
EBF	B	-0.24%
EQC	D	-0.24%
ACN	B	-0.23%
EXEL	B	-0.23%
JJSF	C	-0.23%
OLED	B	-0.19%
SPOK	D	-0.19%
DECK	B	-0.19%
SPNS	B	-0.17%
QNST	C	-0.15%
PSX	D	-0.14%
AMAT	C	-0.13%
DGICA	D	-0.12%
TNK	C	-0.12%
CLBK	F	-0.1%
DJCO	C	-0.1%
DTM	A	-0.1%
CNXN	C	-0.08%
LRCX	D	-0.08%
GLRE	B	-0.06%
LANC	F	-0.06%
REYN	D	-0.06%
UNM	A	-0.06%
ATR	A	-0.05%
SFL	D	-0.05%
EIG	A	-0.04%
AKAM	D	-0.04%
VRTX	D	-0.04%
NBIX	F	-0.04%
CNA	D	-0.04%
SPOT	C	-0.03%