SPY vs. SKOR ETF Comparison

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

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

$572.98

Average Daily Volume

50,510,973

Number of Holdings ^*

497

* may have additional holdings in another (foreign) market

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

Performance

Period	SPY	SKOR
30 Days	4.32%	0.12%
60 Days	11.09%	1.49%
90 Days	3.62%	2.93%
12 Months	36.80%	10.67%

228 Overlapping Holdings

Symbol	Grade	Weight in SPY	Weight in SKOR	Overlap
A	B	0.09%	0.07%	0.07%
AAPL	C	7.11%	0.09%	0.09%
ABBV	C	0.7%	0.08%	0.08%
ADBE	F	0.47%	0.09%	0.09%
ADI	B	0.24%	0.15%	0.15%
ADP	A	0.23%	0.07%	0.07%
ADSK	B	0.12%	0.08%	0.08%
AEE	A	0.05%	0.25%	0.05%
AEP	C	0.11%	0.02%	0.02%
AFL	A	0.11%	0.04%	0.04%
AIG	C	0.1%	0.04%	0.04%
AIZ	B	0.02%	0.04%	0.02%
ALL	A	0.1%	0.15%	0.1%
ALLE	A	0.03%	0.07%	0.03%
AMCR	C	0.03%	0.12%	0.03%
AMGN	D	0.35%	0.11%	0.11%
AMP	A	0.09%	0.07%	0.07%
AMT	D	0.22%	0.13%	0.13%
AMZN	C	3.67%	0.11%	0.11%
AON	A	0.15%	0.09%	0.09%
APD	C	0.14%	0.19%	0.14%
APH	D	0.16%	0.11%	0.11%
ARE	D	0.04%	0.04%	0.04%
ATO	A	0.04%	0.17%	0.04%
AVB	C	0.07%	0.02%	0.02%
AVGO	B	1.7%	0.04%	0.04%
AVY	D	0.04%	0.02%	0.02%
AWK	D	0.06%	0.07%	0.06%
AXP	A	0.31%	0.07%	0.07%
AZO	D	0.11%	0.05%	0.05%
BA	F	0.19%	0.06%	0.06%
BAC	B	0.55%	0.0%	0.0%
BAX	D	0.04%	0.07%	0.04%
BDX	C	0.14%	0.08%	0.08%
BG	F	0.03%	0.08%	0.03%
BK	A	0.11%	0.05%	0.05%
BLK	A	0.27%	0.08%	0.08%
BMY	A	0.21%	0.1%	0.1%
BR	B	0.05%	0.08%	0.05%
BRO	A	0.05%	0.08%	0.05%
BWA	C	0.02%	0.13%	0.02%
BXP	B	0.02%	0.09%	0.02%
C	B	0.24%	0.08%	0.08%
CARR	A	0.14%	0.09%	0.09%
CB	A	0.22%	0.1%	0.1%
CBOE	B	0.04%	0.08%	0.04%
CCI	D	0.1%	0.18%	0.1%
CE	D	0.03%	0.07%	0.03%
CFG	C	0.04%	0.07%	0.04%
CHD	D	0.05%	0.18%	0.05%
CHTR	D	0.06%	0.2%	0.06%
CI	D	0.2%	0.14%	0.14%
CL	D	0.17%	0.09%	0.09%
CLX	C	0.04%	0.02%	0.02%
CMCSA	B	0.33%	0.14%	0.14%
CME	A	0.16%	0.12%	0.12%
CMI	A	0.09%	0.04%	0.04%
CMS	A	0.04%	0.08%	0.04%
CNP	B	0.04%	0.1%	0.04%
COF	A	0.12%	0.02%	0.02%
COST	C	0.82%	0.1%	0.1%
CPB	D	0.02%	0.06%	0.02%
CPT	C	0.03%	0.07%	0.03%
CSCO	A	0.44%	0.04%	0.04%
CSX	D	0.14%	0.04%	0.04%
CTAS	C	0.15%	0.02%	0.02%
CVS	D	0.15%	0.16%	0.15%
D	A	0.1%	0.08%	0.08%
DFS	A	0.07%	0.11%	0.07%
DG	F	0.04%	0.16%	0.04%
DGX	D	0.04%	0.07%	0.04%
DHI	C	0.11%	0.07%	0.07%
DHR	D	0.37%	0.09%	0.09%
DIS	D	0.35%	0.09%	0.09%
DLR	C	0.1%	0.1%	0.1%
DLTR	F	0.03%	0.05%	0.03%
DOV	C	0.05%	0.07%	0.05%
DOW	B	0.08%	0.17%	0.08%
DTE	B	0.05%	0.09%	0.05%
DUK	C	0.18%	0.08%	0.08%
EA	D	0.07%	0.04%	0.04%
EBAY	A	0.06%	0.08%	0.06%
ECL	C	0.13%	0.06%	0.06%
ED	C	0.07%	0.11%	0.07%
EFX	D	0.07%	0.05%	0.05%
EIX	C	0.07%	0.04%	0.04%
ELV	F	0.25%	0.18%	0.18%
EMR	B	0.13%	0.07%	0.07%
EQIX	C	0.17%	0.0%	0.0%
EQR	C	0.05%	0.02%	0.02%
ES	D	0.05%	0.04%	0.04%
ESS	D	0.04%	0.07%	0.04%
EW	F	0.08%	0.08%	0.08%
FITB	C	0.06%	0.09%	0.06%
FMC	C	0.02%	0.07%	0.02%
FOXA	B	0.02%	0.25%	0.02%
FTV	C	0.06%	0.04%	0.04%
GD	C	0.16%	0.14%	0.14%
GILD	A	0.21%	0.13%	0.13%
GIS	C	0.08%	0.08%	0.08%
GL	C	0.02%	0.06%	0.02%
GM	D	0.11%	0.2%	0.11%
GOOGL	B	1.96%	0.03%	0.03%
GPN	F	0.05%	0.17%	0.05%
GS	B	0.32%	0.1%	0.1%
HBAN	B	0.04%	0.08%	0.04%
HCA	C	0.15%	0.03%	0.03%
HD	A	0.81%	0.0%	0.0%
HII	F	0.02%	0.04%	0.02%
HON	C	0.28%	0.04%	0.04%
HPQ	B	0.07%	0.07%	0.07%
HST	D	0.03%	0.09%	0.03%
HUBB	A	0.05%	0.07%	0.05%
HUM	F	0.08%	0.12%	0.08%
IBM	A	0.42%	0.09%	0.09%
INTC	D	0.21%	0.12%	0.12%
INTU	F	0.37%	0.1%	0.1%
ITW	C	0.15%	0.07%	0.07%
JBHT	D	0.03%	0.12%	0.03%
JNJ	D	0.8%	0.18%	0.18%
JPM	C	1.23%	0.01%	0.01%
K	B	0.04%	0.11%	0.04%
KDP	C	0.08%	0.08%	0.08%
KEY	B	0.03%	0.08%	0.03%
KEYS	B	0.06%	0.08%	0.06%
KIM	C	0.03%	0.04%	0.03%
KLAC	B	0.22%	0.08%	0.08%
KMB	D	0.1%	0.08%	0.08%
KMI	A	0.09%	0.28%	0.09%
KO	C	0.57%	0.08%	0.08%
LEN	C	0.09%	0.32%	0.09%
LHX	A	0.09%	0.1%	0.09%
LMT	A	0.25%	0.23%	0.23%
LNT	B	0.03%	0.1%	0.03%
LOW	C	0.31%	0.04%	0.04%
MA	A	0.83%	0.04%	0.04%
MAA	D	0.04%	0.02%	0.02%
MAR	A	0.12%	0.04%	0.04%
MAS	C	0.04%	0.19%	0.04%
MCD	A	0.45%	0.04%	0.04%
MCK	F	0.13%	0.09%	0.09%
MCO	D	0.15%	0.07%	0.07%
MDLZ	D	0.2%	0.07%	0.07%
MET	A	0.1%	0.09%	0.09%
MKC	C	0.04%	0.07%	0.04%
MLM	F	0.07%	0.09%	0.07%
MMC	D	0.23%	0.01%	0.01%
MMM	C	0.16%	0.08%	0.08%
MO	D	0.18%	0.1%	0.1%
MS	A	0.27%	0.04%	0.04%
MSFT	D	6.59%	0.04%	0.04%
MSI	A	0.15%	0.04%	0.04%
MU	D	0.25%	0.08%	0.08%
NDAQ	C	0.06%	0.08%	0.06%
NEE	C	0.35%	0.04%	0.04%
NI	A	0.03%	0.19%	0.03%
NOC	B	0.15%	0.19%	0.15%
NSC	C	0.11%	0.07%	0.07%
NTAP	D	0.05%	0.07%	0.05%
NXPI	F	0.13%	0.21%	0.13%
O	C	0.11%	0.12%	0.11%
OKE	A	0.11%	0.14%	0.11%
ORCL	A	0.55%	0.11%	0.11%
ORLY	A	0.14%	0.08%	0.08%
OTIS	A	0.09%	0.07%	0.07%
PCG	C	0.09%	0.07%	0.07%
PEG	A	0.09%	0.07%	0.07%
PEP	F	0.48%	0.24%	0.24%
PG	D	0.84%	0.06%	0.06%
PGR	B	0.3%	0.04%	0.04%
PH	A	0.17%	0.02%	0.02%
PHM	C	0.06%	0.2%	0.06%
PKG	B	0.04%	0.07%	0.04%
PLD	D	0.24%	0.07%	0.07%
PM	D	0.39%	0.17%	0.17%
PNC	C	0.15%	0.03%	0.03%
PPG	D	0.06%	0.07%	0.06%
PRU	B	0.09%	0.0%	0.0%
PSA	C	0.12%	0.08%	0.08%
PYPL	A	0.17%	0.02%	0.02%
QCOM	D	0.4%	0.08%	0.08%
REG	C	0.02%	0.06%	0.02%
ROK	D	0.06%	0.06%	0.06%
ROP	D	0.12%	0.08%	0.08%
RSG	D	0.08%	0.04%	0.04%
SBUX	B	0.23%	0.09%	0.09%
SCHW	D	0.2%	0.04%	0.04%
SHW	C	0.18%	0.04%	0.04%
SJM	D	0.03%	0.04%	0.03%
SO	A	0.2%	0.1%	0.1%
SPG	A	0.1%	0.22%	0.1%
SPGI	C	0.34%	0.08%	0.08%
SRE	C	0.11%	0.07%	0.07%
STLD	C	0.04%	0.04%	0.04%
STT	A	0.05%	0.07%	0.05%
SWK	C	0.03%	0.11%	0.03%
SYF	A	0.04%	0.08%	0.04%
SYK	C	0.25%	0.03%	0.03%
T	B	0.32%	0.12%	0.12%
TDY	A	0.04%	0.14%	0.04%
TEL	D	0.09%	0.07%	0.07%
TFC	D	0.12%	0.06%	0.06%
TMO	D	0.49%	0.19%	0.19%
TMUS	A	0.2%	0.14%	0.14%
TPR	B	0.02%	0.19%	0.02%
TRMB	B	0.03%	0.1%	0.03%
TT	A	0.18%	0.08%	0.08%
TXN	C	0.39%	0.07%	0.07%
UNH	B	1.09%	0.02%	0.02%
UNP	F	0.3%	0.11%	0.11%
UPS	D	0.2%	0.08%	0.08%
USB	C	0.15%	0.07%	0.07%
V	B	0.93%	0.1%	0.1%
VLO	F	0.09%	0.08%	0.08%
VRSK	D	0.08%	0.1%	0.08%
VRSN	C	0.03%	0.19%	0.03%
VTR	C	0.05%	0.02%	0.02%
VZ	C	0.39%	0.03%	0.03%
WAB	A	0.07%	0.06%	0.06%
WEC	B	0.06%	0.17%	0.06%
WELL	C	0.15%	0.08%	0.08%
WFC	B	0.39%	0.07%	0.07%
WM	B	0.15%	0.13%	0.13%
WMT	A	0.71%	0.02%	0.02%
WTW	C	0.06%	0.06%	0.06%
WY	C	0.05%	0.1%	0.05%
XEL	C	0.07%	0.14%	0.07%
ZTS	C	0.18%	0.05%	0.05%

SPY Overweight 269 Positions Relative to SKOR

Symbol	Grade	Weight
NVDA	B	6.27%
META	A	2.55%
BRK.A	B	1.71%
GOOG	B	1.62%
LLY	D	1.47%
TSLA	C	1.45%
XOM	A	1.03%
NFLX	A	0.63%
MRK	F	0.59%
AMD	C	0.56%
CRM	B	0.55%
CVX	B	0.5%
LIN	C	0.48%
ACN	B	0.46%
GE	B	0.41%
ABT	C	0.4%
CAT	A	0.39%
NOW	B	0.37%
AMAT	C	0.36%
ISRG	C	0.35%
PFE	D	0.34%
RTX	A	0.33%
UBER	C	0.33%
BKNG	B	0.29%
ETN	B	0.27%
TJX	D	0.27%
VRTX	D	0.25%
BSX	A	0.25%
MDT	C	0.24%
COP	D	0.24%
PANW	B	0.23%
REGN	D	0.23%
LRCX	D	0.23%
BX	C	0.23%
DE	C	0.22%
NKE	D	0.22%
FI	A	0.21%
ANET	A	0.2%
ICE	A	0.19%
KKR	A	0.18%
TDG	A	0.16%
SNPS	F	0.16%
CMG	C	0.16%
CEG	A	0.16%
TGT	C	0.15%
FCX	B	0.15%
PLTR	A	0.15%
CDNS	D	0.15%
EOG	B	0.14%
GEV	A	0.14%
AJG	C	0.13%
NEM	C	0.13%
CRWD	D	0.13%
ABNB	D	0.12%
HLT	A	0.12%
SLB	D	0.12%
FDX	F	0.12%
JCI	C	0.11%
PCAR	D	0.11%
URI	C	0.11%
TRV	B	0.11%
WMB	A	0.11%
MPC	D	0.11%
PSX	D	0.11%
GWW	B	0.1%
FICO	C	0.1%
FTNT	A	0.1%
ROST	D	0.1%
F	D	0.09%
IDXX	D	0.09%
ACGL	A	0.09%
PAYX	B	0.09%
MCHP	F	0.09%
RCL	B	0.09%
PWR	A	0.09%
KVUE	C	0.09%
MSCI	B	0.09%
FIS	A	0.09%
CPRT	B	0.09%
MPWR	B	0.09%
MNST	D	0.08%
KR	C	0.08%
ODFL	F	0.08%
CBRE	C	0.08%
DD	C	0.08%
EXR	D	0.08%
CTSH	B	0.08%
SYY	D	0.08%
CNC	F	0.08%
YUM	C	0.08%
IR	A	0.08%
VST	A	0.08%
GEHC	C	0.08%
IT	A	0.08%
AME	C	0.08%
EXC	C	0.08%
STZ	D	0.08%
CTVA	A	0.08%
HWM	A	0.08%
IQV	F	0.08%
FAST	C	0.08%
MTD	C	0.07%
TRGP	A	0.07%
XYL	C	0.07%
VMC	D	0.07%
DAL	C	0.07%
OXY	D	0.07%
HIG	A	0.07%
IRM	B	0.07%
VICI	C	0.07%
BKR	B	0.07%
GLW	C	0.07%
RMD	C	0.07%
NUE	D	0.07%
HES	D	0.07%
DELL	C	0.07%
IFF	D	0.06%
GRMN	D	0.06%
DXCM	F	0.06%
FSLR	C	0.06%
VLTO	A	0.06%
ETR	A	0.06%
HSY	D	0.06%
BIIB	F	0.06%
AXON	A	0.06%
ANSS	D	0.06%
ADM	F	0.06%
MTB	A	0.06%
NVR	C	0.06%
FANG	D	0.06%
CDW	D	0.06%
CSGP	F	0.06%
KHC	F	0.06%
TSCO	A	0.06%
LULU	D	0.06%
ON	F	0.06%
ZBH	F	0.05%
GDDY	B	0.05%
BLDR	C	0.05%
WST	D	0.05%
FE	C	0.05%
TER	C	0.05%
RJF	B	0.05%
WDC	C	0.05%
STX	C	0.05%
STE	D	0.05%
EL	D	0.05%
DVN	F	0.05%
DECK	B	0.05%
PPL	C	0.05%
TROW	D	0.05%
SW	C	0.05%
HAL	D	0.05%
TYL	D	0.05%
TTWO	D	0.05%
LYB	B	0.05%
SBAC	C	0.05%
HPE	B	0.05%
CAH	B	0.05%
IP	C	0.04%
CTRA	D	0.04%
WRB	C	0.04%
LVS	B	0.04%
FDS	C	0.04%
ALGN	D	0.04%
LUV	B	0.04%
EXPD	D	0.04%
NTRS	B	0.04%
PFG	A	0.04%
EXPE	B	0.04%
WBD	F	0.04%
HOLX	D	0.04%
NRG	A	0.04%
CCL	C	0.04%
ZBRA	B	0.04%
APTV	D	0.04%
UAL	A	0.04%
J	F	0.04%
ULTA	D	0.04%
BBY	C	0.04%
GPC	D	0.04%
MOH	F	0.04%
DRI	C	0.04%
INVH	D	0.04%
OMC	C	0.04%
SMCI	F	0.04%
BALL	C	0.04%
RF	B	0.04%
CINF	A	0.04%
EQT	C	0.04%
WAT	B	0.04%
CPAY	A	0.04%
LDOS	A	0.04%
MRNA	F	0.04%
PTC	B	0.04%
KMX	F	0.03%
TECH	D	0.03%
CHRW	C	0.03%
JKHY	A	0.03%
JNPR	C	0.03%
FFIV	B	0.03%
EMN	C	0.03%
ERIE	A	0.03%
UDR	C	0.03%
VTRS	D	0.03%
AES	C	0.03%
ROL	C	0.03%
EVRG	C	0.03%
POOL	D	0.03%
NDSN	C	0.03%
UHS	D	0.03%
L	C	0.03%
JBL	C	0.03%
MRO	B	0.03%
DPZ	D	0.03%
AKAM	D	0.03%
SNA	C	0.03%
CF	A	0.03%
ENPH	F	0.03%
CAG	D	0.03%
DOC	C	0.03%
SWKS	F	0.03%
PNR	C	0.03%
IEX	D	0.03%
TXT	F	0.03%
PODD	C	0.03%
EG	A	0.03%
LYV	A	0.03%
TSN	D	0.03%
DVA	C	0.02%
RL	B	0.02%
IVZ	A	0.02%
PAYC	D	0.02%
MHK	C	0.02%
MOS	F	0.02%
WYNN	B	0.02%
FRT	D	0.02%
APA	F	0.02%
MGM	D	0.02%
CZR	B	0.02%
HSIC	D	0.02%
GNRC	B	0.02%
HRL	F	0.02%
NCLH	C	0.02%
DAY	C	0.02%
SOLV	C	0.02%
HAS	A	0.02%
LW	D	0.02%
MTCH	B	0.02%
MKTX	B	0.02%
TAP	D	0.02%
QRVO	F	0.02%
NWSA	D	0.02%
PNW	C	0.02%
CRL	F	0.02%
INCY	B	0.02%
LKQ	F	0.02%
AOS	C	0.02%
CTLT	A	0.02%
ALB	D	0.02%
EPAM	F	0.02%
TFX	C	0.02%
IPG	D	0.02%
NWS	D	0.01%
FOX	B	0.01%
WBA	F	0.01%
PARA	F	0.01%
BEN	F	0.01%
BBWI	F	0.01%

SPY Underweight 77 Positions Relative to SKOR

Symbol	Grade	Weight
PAA	B	-0.19%
TD	B	-0.17%
LII	C	-0.16%
ARW	C	-0.15%
RPRX	D	-0.14%
ALLY	F	-0.14%
WU	D	-0.13%
BRX	C	-0.12%
CM	C	-0.11%
BHP	B	-0.11%
MKL	B	-0.11%
NVT	C	-0.11%
ATHS	A	-0.11%
ARCC	A	-0.11%
BMO	B	-0.11%
LH	D	-0.11%
BIDU	C	-0.1%
BKU	D	-0.1%
VNT	F	-0.09%
THG	A	-0.09%
FHN	D	-0.09%
CMA	C	-0.09%
AGR	C	-0.09%
FLO	D	-0.09%
LAZ	C	-0.09%
BNS	C	-0.09%
AFG	A	-0.08%
AWH	F	-0.08%
FAF	C	-0.08%
LEA	F	-0.08%
CSL	A	-0.08%
HP	D	-0.08%
ORI	A	-0.08%
H	B	-0.08%
DSS	F	-0.08%
AMH	D	-0.08%
DINO	F	-0.08%
WHR	C	-0.08%
NFG	A	-0.08%
JEF	A	-0.08%
GLPI	C	-0.08%
AVT	B	-0.07%
KMPR	D	-0.07%
SBRA	C	-0.07%
WB	B	-0.07%
BKH	C	-0.07%
GSBD	D	-0.07%
CUBE	C	-0.07%
EPD	A	-0.07%
BABA	A	-0.07%
HSBC	A	-0.07%
SKT	A	-0.06%
SCS	D	-0.06%
WPC	C	-0.06%
AL	D	-0.06%
NNN	C	-0.06%
SITC	D	-0.05%
DT	B	-0.05%
RY	C	-0.05%
AER	C	-0.05%
PDM	C	-0.04%
HPP	F	-0.04%
VOYA	A	-0.04%
KRG	C	-0.04%
RNR	A	-0.04%
RPM	A	-0.04%
AXS	A	-0.04%
HIW	C	-0.04%
KRC	C	-0.04%
DB	A	-0.04%
FLS	A	-0.03%
FNF	C	-0.03%
AAP	F	-0.02%
BDN	B	-0.02%
MUFG	D	-0.02%
CP	C	-0.01%
OHI	C	-0.0%