SPY vs. LKOR ETF Comparison

Comparison of SPDR S&P 500 (SPY) to FlexShares Credit-Scored US Long Corporate Bond Index Fund (LKOR)

SPY

SPDR S&P 500

SPY Description

The investment seeks to provide investment results that, before expenses, generally correspond to the price and yield performance of the S&P 500 Index. The Trust holds the Portfolio and cash and is not actively "managed" by traditional methods. To maintain the correspondence between the composition and weightings of Portfolio Securities and component stocks of the S&P 500 Index, the Trustee adjusts the Portfolio from time to time to conform to periodic changes in the identity and/or relative weightings of Index Securities.

Grade (RS Rating)

Last Trade

$590.30

Average Daily Volume

44,032,080

Number of Holdings ^*

499

* may have additional holdings in another (foreign) market

LKOR

FlexShares Credit-Scored US Long Corporate Bond Index Fund

LKOR Description

Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund is an exchange traded fund launched by Northern Trust Corporation. It is managed by Northern Trust Investments, Incorporated. The fund invests in fixed income markets of the United States. It invests in US-dollar denominated investment grade bonds of companies rated BBB or higher by S&P or Fitch or Baa3 or higher by Moody's and with maturities greater than or equal to ten years. The fund seeks to track the performance of the Northern Trust Credit-Scored US Long Corporate Bond Index, by employing representative sampling methodology. Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund was formed on September 23, 2015 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$43.15

Average Daily Volume

6,925

Number of Holdings ^*

163

* may have additional holdings in another (foreign) market

Performance

Period	SPY	LKOR
30 Days	0.98%	-2.23%
60 Days	3.88%	-4.98%
90 Days	5.62%	-3.28%
12 Months	31.70%	10.12%

144 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in LKOR	Overlap
AAPL	C	6.89%	0.17%	0.17%
ABBV	F	0.6%	0.33%	0.33%
ACGL	D	0.07%	0.55%	0.07%
AEE	A	0.05%	0.24%	0.05%
AEP	C	0.1%	0.28%	0.1%
AFL	C	0.11%	0.12%	0.11%
AIG	C	0.1%	0.23%	0.1%
AIZ	A	0.02%	0.18%	0.02%
ALL	A	0.1%	0.04%	0.04%
AMGN	D	0.32%	0.23%	0.23%
AMT	D	0.18%	0.27%	0.18%
AMZN	B	3.92%	0.18%	0.18%
AON	B	0.16%	0.13%	0.13%
APTV	F	0.03%	0.13%	0.03%
ARE	F	0.03%	0.18%	0.03%
ATO	A	0.04%	0.23%	0.04%
AVGO	C	1.58%	0.2%	0.2%
BA	D	0.2%	0.37%	0.2%
BAC	A	0.62%	0.23%	0.23%
BDX	F	0.13%	0.23%	0.13%
BIIB	F	0.05%	0.09%	0.05%
BWA	D	0.02%	0.11%	0.02%
C	B	0.26%	0.21%	0.21%
CAG	F	0.03%	0.24%	0.03%
CAH	B	0.06%	0.31%	0.06%
CCI	C	0.09%	0.19%	0.09%
CHD	A	0.05%	0.11%	0.05%
CHTR	B	0.08%	0.26%	0.08%
CMCSA	B	0.33%	0.24%	0.24%
CMS	C	0.04%	0.24%	0.04%
CPB	D	0.02%	0.18%	0.02%
CSCO	B	0.46%	0.23%	0.23%
CSX	C	0.14%	0.12%	0.12%
CVS	F	0.14%	0.36%	0.14%
D	C	0.09%	0.23%	0.09%
DG	F	0.03%	0.11%	0.03%
DHR	D	0.31%	0.1%	0.1%
DOV	B	0.06%	0.24%	0.06%
DOW	F	0.06%	0.32%	0.06%
DUK	C	0.17%	0.5%	0.17%
EA	A	0.08%	0.09%	0.08%
EBAY	D	0.06%	0.18%	0.06%
ED	C	0.07%	0.29%	0.07%
EFX	F	0.06%	0.13%	0.06%
EG	D	0.03%	0.2%	0.03%
EIX	C	0.06%	0.21%	0.06%
EL	F	0.03%	0.21%	0.03%
ELV	F	0.19%	0.1%	0.1%
EMR	A	0.15%	0.12%	0.12%
EXC	C	0.08%	0.22%	0.08%
FITB	B	0.06%	0.39%	0.06%
FMC	D	0.01%	0.11%	0.01%
FOXA	B	0.02%	0.24%	0.02%
FTV	D	0.05%	0.05%	0.05%
GILD	C	0.23%	0.35%	0.23%
GLW	B	0.07%	0.1%	0.07%
GM	B	0.13%	0.13%	0.13%
GOOGL	B	2.04%	0.12%	0.12%
GS	B	0.37%	0.21%	0.21%
GWW	B	0.1%	0.24%	0.1%
HAL	C	0.05%	0.14%	0.05%
HAS	D	0.02%	0.13%	0.02%
HCA	F	0.13%	0.24%	0.13%
HD	A	0.8%	0.19%	0.19%
HIG	B	0.07%	0.2%	0.07%
HON	B	0.3%	0.25%	0.25%
HPE	B	0.06%	0.37%	0.06%
HPQ	B	0.07%	0.24%	0.07%
HUM	D	0.07%	0.07%	0.07%
IBM	C	0.38%	0.23%	0.23%
IFF	D	0.05%	0.12%	0.05%
INTC	C	0.21%	0.37%	0.21%
IPG	F	0.02%	0.12%	0.02%
ITW	B	0.14%	0.06%	0.06%
JCI	B	0.11%	0.13%	0.11%
JNJ	D	0.73%	0.12%	0.12%
JPM	A	1.37%	0.09%	0.09%
KDP	D	0.07%	0.24%	0.07%
KIM	A	0.03%	0.1%	0.03%
KLAC	F	0.17%	0.2%	0.17%
KMB	C	0.09%	0.26%	0.09%
KMI	A	0.1%	0.19%	0.1%
KO	D	0.48%	0.19%	0.19%
LH	B	0.04%	0.23%	0.04%
LHX	B	0.09%	0.05%	0.05%
LMT	D	0.23%	0.24%	0.23%
LNT	A	0.03%	0.4%	0.03%
LOW	C	0.31%	0.25%	0.25%
LYB	F	0.04%	0.23%	0.04%
MA	B	0.85%	0.22%	0.22%
MAS	D	0.03%	0.11%	0.03%
MCD	D	0.43%	0.12%	0.12%
MCK	A	0.16%	0.23%	0.16%
MCO	D	0.15%	0.12%	0.12%
MDLZ	F	0.17%	0.09%	0.09%
MET	A	0.1%	0.14%	0.1%
MLM	B	0.07%	0.11%	0.07%
MMC	D	0.22%	0.24%	0.22%
MMM	D	0.14%	0.26%	0.14%
MO	A	0.19%	0.2%	0.19%
MRO	A	0.03%	0.22%	0.03%
MS	A	0.33%	0.14%	0.14%
MSFT	D	6.3%	0.1%	0.1%
NDAQ	A	0.06%	0.19%	0.06%
NEM	D	0.09%	0.24%	0.09%
NI	A	0.03%	0.37%	0.03%
NOC	D	0.14%	0.26%	0.14%
NSC	B	0.12%	0.12%	0.12%
NVDA	A	7.17%	0.21%	0.21%
OKE	A	0.13%	0.24%	0.13%
ORCL	A	0.59%	0.25%	0.25%
OTIS	C	0.08%	0.1%	0.08%
PCG	A	0.09%	0.09%	0.09%
PGR	B	0.3%	0.23%	0.23%
PM	A	0.4%	0.7%	0.4%
PRU	B	0.09%	0.11%	0.09%
REG	A	0.02%	0.11%	0.02%
REGN	F	0.16%	0.17%	0.16%
RF	A	0.05%	0.28%	0.05%
RJF	A	0.06%	0.11%	0.06%
SBUX	A	0.22%	0.23%	0.22%
SHW	C	0.18%	0.21%	0.18%
SJM	D	0.02%	0.1%	0.02%
SO	C	0.19%	0.11%	0.11%
SPGI	D	0.32%	0.16%	0.16%
SRE	A	0.11%	0.21%	0.11%
STZ	D	0.08%	0.19%	0.08%
T	A	0.32%	0.09%	0.09%
TT	A	0.18%	0.12%	0.12%
TXN	C	0.37%	0.23%	0.23%
UNH	C	1.09%	0.16%	0.16%
UNP	D	0.28%	0.16%	0.16%
V	A	1.02%	0.4%	0.4%
VRSK	B	0.08%	0.1%	0.08%
VTR	B	0.05%	0.12%	0.05%
VZ	C	0.34%	0.18%	0.18%
WBA	F	0.01%	0.1%	0.01%
WEC	A	0.06%	0.24%	0.06%
WELL	A	0.15%	0.12%	0.12%
WFC	A	0.49%	0.25%	0.25%
WRB	B	0.04%	0.23%	0.04%
WTW	B	0.06%	0.1%	0.06%
XOM	B	1.06%	0.12%	0.12%
ZTS	D	0.16%	0.19%	0.16%

SPY Overweight 355 Positions Relative to LKOR

Symbol	Grade	Weight
META	C	2.5%
TSLA	A	1.72%
BRK.A	B	1.7%
GOOG	B	1.69%
LLY	F	1.23%
COST	A	0.81%
PG	C	0.78%
WMT	A	0.73%
NFLX	A	0.71%
CRM	B	0.64%
CVX	A	0.55%
MRK	F	0.5%
ADBE	D	0.47%
AMD	F	0.45%
ACN	C	0.45%
PEP	F	0.45%
NOW	B	0.43%
LIN	D	0.43%
ABT	A	0.4%
TMO	F	0.4%
INTU	B	0.39%
DIS	B	0.39%
ISRG	A	0.38%
GE	D	0.38%
CAT	C	0.37%
QCOM	F	0.36%
BKNG	A	0.33%
AXP	B	0.32%
AMAT	F	0.31%
NEE	C	0.31%
RTX	D	0.31%
UBER	F	0.3%
ETN	B	0.29%
BLK	B	0.29%
PFE	F	0.29%
TJX	A	0.27%
BSX	A	0.26%
BX	A	0.26%
COP	B	0.26%
SYK	A	0.26%
VRTX	D	0.25%
PANW	B	0.25%
BMY	A	0.24%
PLTR	A	0.24%
SCHW	A	0.24%
FI	A	0.24%
ADP	B	0.24%
TMUS	B	0.23%
MU	D	0.22%
MDT	D	0.22%
ADI	D	0.21%
PLD	D	0.21%
CB	C	0.21%
ANET	C	0.2%
DE	C	0.2%
KKR	A	0.2%
UPS	C	0.19%
LRCX	F	0.19%
GEV	A	0.18%
PH	B	0.18%
ICE	C	0.18%
CI	D	0.18%
NKE	F	0.18%
SNPS	C	0.17%
EQIX	A	0.17%
APH	B	0.17%
PYPL	B	0.17%
USB	B	0.16%
CRWD	B	0.16%
CME	A	0.16%
WM	B	0.16%
CMG	C	0.16%
MSI	B	0.16%
PNC	B	0.16%
CDNS	B	0.16%
CTAS	B	0.15%
CL	D	0.15%
GD	D	0.15%
EOG	A	0.15%
COF	B	0.14%
APD	A	0.14%
CEG	C	0.14%
ORLY	B	0.14%
TGT	B	0.14%
TDG	D	0.14%
CARR	D	0.13%
AJG	B	0.13%
FDX	B	0.13%
MAR	B	0.13%
ADSK	B	0.13%
WMB	A	0.13%
TRV	A	0.12%
ABNB	D	0.12%
FTNT	B	0.12%
PCAR	C	0.12%
ROP	C	0.12%
HLT	A	0.12%
SLB	C	0.12%
TFC	A	0.12%
FCX	F	0.12%
ECL	D	0.12%
MPC	D	0.11%
AZO	C	0.11%
PSX	C	0.11%
SPG	A	0.11%
DLR	A	0.11%
AMP	A	0.11%
RCL	A	0.11%
URI	B	0.11%
FICO	B	0.11%
NXPI	F	0.11%
BK	B	0.11%
DHI	D	0.1%
FIS	C	0.1%
O	C	0.1%
CMI	A	0.1%
CPRT	B	0.1%
PSA	C	0.1%
BKR	B	0.09%
F	C	0.09%
PEG	C	0.09%
AXON	A	0.09%
DFS	B	0.09%
AME	A	0.09%
VLO	C	0.09%
KVUE	A	0.09%
HWM	A	0.09%
PAYX	B	0.09%
FAST	B	0.09%
ROST	D	0.09%
VST	A	0.09%
MSCI	B	0.09%
PWR	A	0.09%
GEHC	D	0.08%
LULU	C	0.08%
A	F	0.08%
XEL	A	0.08%
YUM	D	0.08%
DELL	B	0.08%
KR	B	0.08%
MNST	C	0.08%
CTVA	C	0.08%
CBRE	B	0.08%
EW	C	0.08%
CTSH	C	0.08%
HES	B	0.08%
LEN	D	0.08%
IT	C	0.08%
IR	B	0.08%
DAL	A	0.08%
TRGP	A	0.08%
ODFL	B	0.08%
COR	B	0.08%
RSG	A	0.08%
VICI	C	0.07%
IRM	C	0.07%
RMD	C	0.07%
OXY	F	0.07%
FANG	D	0.07%
WAB	B	0.07%
EXR	C	0.07%
DD	D	0.07%
NUE	D	0.07%
IDXX	F	0.07%
IQV	F	0.07%
MCHP	F	0.07%
MTB	A	0.07%
GIS	F	0.07%
SYY	D	0.07%
VMC	B	0.07%
KHC	F	0.06%
STT	B	0.06%
MPWR	F	0.06%
NVR	D	0.06%
ON	F	0.06%
PPG	F	0.06%
XYL	D	0.06%
GPN	C	0.06%
TTWO	A	0.06%
ANSS	B	0.06%
TSCO	D	0.06%
DXCM	C	0.06%
UAL	A	0.06%
CSGP	F	0.06%
CNC	F	0.06%
ETR	A	0.06%
AVB	B	0.06%
ROK	B	0.06%
GRMN	B	0.06%
EXPE	B	0.05%
PTC	B	0.05%
CINF	A	0.05%
SBAC	D	0.05%
HUBB	B	0.05%
CDW	F	0.05%
NTAP	C	0.05%
PPL	A	0.05%
WST	D	0.05%
CCL	A	0.05%
DVN	F	0.05%
DTE	C	0.05%
SW	A	0.05%
EQR	C	0.05%
ADM	D	0.05%
EQT	A	0.05%
HBAN	B	0.05%
VLTO	C	0.05%
SYF	B	0.05%
CPAY	A	0.05%
AWK	C	0.05%
BRO	B	0.05%
GDDY	A	0.05%
MTD	F	0.05%
TYL	B	0.05%
HSY	F	0.05%
BR	B	0.05%
TROW	B	0.05%
KEYS	C	0.05%
PHM	D	0.05%
DECK	A	0.05%
J	D	0.04%
KEY	B	0.04%
MOH	F	0.04%
BBY	D	0.04%
HOLX	D	0.04%
ULTA	F	0.04%
TSN	B	0.04%
PODD	B	0.04%
MAA	A	0.04%
PFG	C	0.04%
CTRA	B	0.04%
BALL	D	0.04%
FDS	B	0.04%
SNA	B	0.04%
MKC	D	0.04%
NRG	B	0.04%
INVH	D	0.04%
LUV	B	0.04%
ESS	A	0.04%
CNP	A	0.04%
IP	A	0.04%
STLD	B	0.04%
DRI	C	0.04%
LYV	A	0.04%
ZBRA	B	0.04%
STX	D	0.04%
CLX	A	0.04%
OMC	C	0.04%
WDC	F	0.04%
CBOE	C	0.04%
CFG	B	0.04%
FSLR	F	0.04%
FE	C	0.04%
PKG	B	0.04%
BLDR	D	0.04%
NTRS	A	0.04%
K	B	0.04%
STE	D	0.04%
ES	C	0.04%
WBD	B	0.04%
ZBH	C	0.04%
TDY	B	0.04%
WAT	C	0.04%
WY	D	0.04%
LDOS	C	0.04%
JNPR	D	0.03%
CPT	C	0.03%
CHRW	B	0.03%
SWK	F	0.03%
DLTR	F	0.03%
TPR	B	0.03%
UDR	C	0.03%
AKAM	F	0.03%
SWKS	F	0.03%
MRNA	F	0.03%
POOL	D	0.03%
EPAM	C	0.03%
NDSN	D	0.03%
ROL	B	0.03%
FFIV	B	0.03%
RVTY	D	0.03%
EVRG	A	0.03%
JBL	C	0.03%
AMCR	D	0.03%
JBHT	C	0.03%
DOC	D	0.03%
VTRS	A	0.03%
L	A	0.03%
DPZ	C	0.03%
VRSN	F	0.03%
CF	A	0.03%
ALGN	D	0.03%
AVY	D	0.03%
TXT	D	0.03%
BAX	F	0.03%
GEN	B	0.03%
EXPD	D	0.03%
LVS	B	0.03%
GPC	F	0.03%
TRMB	B	0.03%
IEX	B	0.03%
TER	F	0.03%
DGX	A	0.03%
PNR	B	0.03%
HII	F	0.02%
IVZ	C	0.02%
MTCH	F	0.02%
CE	F	0.02%
APA	F	0.02%
MOS	D	0.02%
CZR	F	0.02%
HSIC	C	0.02%
RL	C	0.02%
FRT	B	0.02%
ENPH	F	0.02%
MGM	D	0.02%
WYNN	D	0.02%
AOS	F	0.02%
HRL	D	0.02%
TFX	F	0.02%
SMCI	F	0.02%
SOLV	F	0.02%
GL	C	0.02%
AES	F	0.02%
MKTX	D	0.02%
ERIE	F	0.02%
CRL	D	0.02%
LKQ	F	0.02%
PNW	B	0.02%
CTLT	D	0.02%
PAYC	B	0.02%
NWSA	B	0.02%
TAP	B	0.02%
GNRC	B	0.02%
TECH	F	0.02%
BXP	D	0.02%
LW	C	0.02%
NCLH	B	0.02%
EMN	D	0.02%
UHS	D	0.02%
ALB	B	0.02%
DAY	B	0.02%
KMX	C	0.02%
HST	D	0.02%
ALLE	D	0.02%
INCY	C	0.02%
BG	D	0.02%
JKHY	D	0.02%
NWS	A	0.01%
FOX	A	0.01%
QRVO	F	0.01%
BEN	C	0.01%
PARA	D	0.01%
DVA	C	0.01%
MHK	D	0.01%

SPY Underweight 19 Positions Relative to LKOR

Symbol	Grade	Weight
SCCO	F	-0.64%
HSBC	A	-0.48%
KOF	F	-0.37%
CP	F	-0.29%
NNN	C	-0.29%
TEL	C	-0.28%
JEF	A	-0.26%
BHP	F	-0.24%
MKL	A	-0.24%
VMI	B	-0.22%
PAA	B	-0.2%
LEA	F	-0.18%
EPD	A	-0.18%
OC	A	-0.11%
BABA	D	-0.11%
RPM	B	-0.1%
BHF	C	-0.1%
RPRX	F	-0.09%
SIGI	B	-0.06%