SSPY vs. RAVI ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to FlexShares Ready Access Variable Income Fund (RAVI)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$82.04

Average Daily Volume

2,303

Number of Holdings ^*

500

* may have additional holdings in another (foreign) market

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.44

Average Daily Volume

72,378

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	RAVI
30 Days	4.23%	0.41%
60 Days	1.79%	0.65%
90 Days	3.72%	1.23%
12 Months	23.81%	5.45%

78 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in RAVI	Overlap
ABBV	D	0.24%	0.13%	0.13%
AEE	A	0.08%	0.17%	0.08%
AEP	D	0.24%	0.38%	0.24%
AIG	B	0.2%	0.57%	0.2%
AMT	D	0.06%	0.13%	0.06%
AMZN	C	0.22%	0.42%	0.22%
AON	A	0.04%	0.46%	0.04%
AZO	C	0.14%	0.52%	0.14%
BA	F	0.16%	0.15%	0.15%
BAC	A	0.12%	0.57%	0.12%
BDX	F	0.05%	0.51%	0.05%
BMY	B	0.25%	0.43%	0.25%
C	A	0.13%	0.24%	0.13%
CAT	B	0.14%	0.26%	0.14%
CCI	D	0.06%	0.49%	0.06%
CFG	B	0.06%	0.29%	0.06%
CI	F	0.19%	0.67%	0.19%
CLX	B	0.41%	0.26%	0.26%
CMCSA	B	0.52%	0.28%	0.28%
CMS	C	0.08%	0.24%	0.08%
CNP	B	0.26%	0.2%	0.2%
COF	B	0.7%	0.06%	0.06%
CRM	B	0.35%	0.4%	0.35%
CVS	D	0.69%	0.16%	0.16%
CVX	A	0.76%	0.33%	0.33%
D	C	0.24%	0.51%	0.24%
DELL	C	0.17%	0.28%	0.17%
DHI	D	0.24%	0.13%	0.13%
DHR	F	0.1%	0.86%	0.1%
DTE	C	0.25%	0.77%	0.25%
DUK	C	0.07%	0.07%	0.07%
ED	D	0.24%	1.05%	0.24%
EFX	F	0.04%	0.1%	0.04%
ETR	B	0.25%	0.38%	0.25%
FIS	C	0.05%	0.23%	0.05%
FITB	A	0.06%	0.22%	0.06%
FOXA	B	0.1%	0.21%	0.1%
GE	D	0.17%	0.76%	0.17%
GILD	C	0.25%	0.59%	0.25%
GM	B	0.25%	0.1%	0.1%
GS	A	0.25%	0.26%	0.25%
HPE	B	0.19%	0.11%	0.11%
HRL	D	0.36%	0.07%	0.07%
ICE	C	0.04%	0.15%	0.04%
JPM	A	0.13%	0.03%	0.03%
KDP	D	0.24%	0.95%	0.24%
KEY	B	0.06%	0.16%	0.06%
LEN	D	0.25%	0.26%	0.25%
LUV	C	0.25%	0.18%	0.18%
LYB	F	0.07%	0.83%	0.07%
MCHP	D	0.14%	0.22%	0.14%
MDLZ	F	0.18%	0.09%	0.09%
MET	A	0.21%	0.13%	0.13%
MKC	D	0.21%	0.17%	0.17%
MLM	B	0.17%	0.28%	0.17%
MS	A	0.26%	0.06%	0.06%
NDAQ	A	0.04%	0.31%	0.04%
NEE	D	0.24%	0.57%	0.24%
NVDA	C	0.13%	0.52%	0.13%
OTIS	C	0.08%	0.95%	0.08%
PCAR	B	0.13%	0.05%	0.05%
PPL	B	0.08%	0.22%	0.08%
PSX	C	0.51%	0.16%	0.16%
PYPL	B	0.06%	0.95%	0.06%
ROP	B	0.03%	0.07%	0.03%
SBUX	A	0.48%	0.18%	0.18%
SCHW	B	0.25%	0.42%	0.25%
SJM	D	0.21%	0.57%	0.21%
SO	D	0.08%	0.26%	0.08%
SYK	C	0.12%	0.49%	0.12%
T	A	0.33%	0.3%	0.3%
TFC	A	0.06%	0.59%	0.06%
TSN	B	0.36%	0.7%	0.36%
UNH	C	0.26%	0.43%	0.26%
VLO	C	0.5%	1.51%	0.5%
VZ	C	0.33%	0.1%	0.1%
WFC	A	0.13%	0.26%	0.13%
WM	A	0.18%	0.69%	0.18%

SSPY Overweight 422 Positions Relative to RAVI

Symbol	Grade	Weight
XOM	B	0.77%
SYY	B	0.75%
KR	B	0.74%
WMT	A	0.73%
ROST	C	0.72%
TJX	A	0.72%
COST	B	0.71%
SYF	B	0.69%
DFS	B	0.69%
WBA	F	0.64%
DPZ	C	0.52%
DRI	B	0.51%
YUM	B	0.51%
EL	F	0.5%
CMG	B	0.5%
AAPL	C	0.5%
MCD	D	0.5%
BRK.A	B	0.5%
EA	A	0.49%
MPC	D	0.49%
TTWO	A	0.49%
L	A	0.49%
MSI	B	0.49%
CHTR	C	0.47%
MTCH	D	0.47%
META	D	0.47%
KMB	D	0.42%
KVUE	A	0.42%
PG	A	0.42%
BWA	D	0.42%
CHD	B	0.42%
VST	B	0.41%
CL	D	0.41%
APTV	D	0.4%
J	F	0.4%
PWR	A	0.4%
JBL	B	0.38%
CEG	D	0.38%
ADM	D	0.37%
BG	F	0.37%
SLB	C	0.35%
HPQ	B	0.35%
PM	B	0.35%
BKR	B	0.35%
MO	A	0.35%
IPG	D	0.34%
IBM	C	0.34%
OMC	C	0.34%
HAL	C	0.34%
ORCL	B	0.34%
SNPS	B	0.34%
TMUS	B	0.33%
ATO	A	0.33%
GRMN	B	0.33%
TPR	B	0.33%
NI	A	0.33%
NRG	B	0.33%
HCA	F	0.33%
NKE	D	0.33%
CDNS	B	0.33%
AES	F	0.32%
AWK	D	0.32%
UHS	D	0.32%
RL	B	0.32%
MSFT	F	0.32%
LULU	C	0.31%
FCX	D	0.3%
EXC	C	0.3%
DECK	A	0.3%
TSLA	B	0.28%
DAL	C	0.28%
UAL	A	0.28%
SWK	D	0.27%
GDDY	A	0.27%
EQIX	A	0.27%
AKAM	D	0.27%
VRSN	F	0.27%
STLD	B	0.27%
HUBB	B	0.26%
ENPH	F	0.26%
NUE	C	0.26%
PEG	A	0.26%
LOW	D	0.26%
HAS	D	0.26%
CNC	D	0.26%
HD	A	0.26%
NVR	D	0.26%
HUM	C	0.26%
DLR	B	0.26%
ETN	A	0.26%
WMB	A	0.25%
NEM	D	0.25%
KO	D	0.25%
F	C	0.25%
CTLT	B	0.25%
MOH	F	0.25%
EIX	B	0.25%
STZ	D	0.25%
ZTS	D	0.25%
SNA	A	0.25%
PHM	D	0.25%
KMI	A	0.25%
MNST	C	0.25%
TAP	C	0.25%
INCY	C	0.25%
RJF	A	0.25%
MRNA	F	0.24%
AMGN	D	0.24%
JNJ	D	0.24%
MRK	F	0.24%
TRGP	B	0.24%
OKE	A	0.24%
FE	C	0.24%
VTRS	A	0.24%
PFE	D	0.24%
BIIB	F	0.24%
ELV	F	0.24%
AVGO	D	0.23%
PLTR	B	0.23%
CPRT	A	0.23%
ON	D	0.23%
GOOGL	C	0.23%
GOOG	C	0.23%
TXN	C	0.23%
LLY	F	0.23%
VRTX	F	0.23%
NXPI	D	0.23%
PAYC	B	0.22%
REGN	F	0.22%
TYL	B	0.22%
NFLX	A	0.22%
LW	C	0.22%
EBAY	D	0.22%
DAY	B	0.22%
QCOM	F	0.22%
NOW	A	0.22%
ADI	D	0.22%
MPWR	F	0.22%
FFIV	B	0.21%
KEYS	A	0.21%
ANET	C	0.21%
DIS	B	0.21%
PFG	D	0.21%
AOS	F	0.21%
CSCO	B	0.21%
KHC	F	0.21%
QRVO	F	0.21%
SWKS	F	0.21%
GIS	D	0.21%
CAG	D	0.21%
PAYX	C	0.21%
ADP	B	0.21%
ALL	A	0.2%
GL	B	0.2%
IEX	B	0.2%
IR	B	0.2%
JNPR	F	0.2%
AFL	B	0.2%
PARA	C	0.2%
CPB	D	0.2%
PRU	A	0.2%
INTU	C	0.2%
AIZ	A	0.2%
ERIE	D	0.2%
HSIC	B	0.2%
FSLR	F	0.2%
MHK	D	0.19%
APH	A	0.19%
XYL	D	0.19%
CAH	B	0.19%
TEL	B	0.19%
PGR	A	0.19%
MAS	D	0.19%
WBD	C	0.19%
PNR	A	0.19%
BLDR	D	0.19%
GLW	B	0.19%
BBWI	D	0.19%
PEP	F	0.18%
HSY	F	0.18%
RSG	A	0.18%
CTAS	B	0.18%
AMAT	F	0.18%
CRWD	B	0.18%
GEV	B	0.18%
EQT	B	0.18%
ROL	B	0.18%
MCK	B	0.18%
COR	B	0.18%
K	A	0.18%
HON	B	0.17%
TGT	F	0.17%
ADSK	A	0.17%
TER	D	0.17%
MMM	D	0.17%
ANSS	B	0.17%
DG	F	0.17%
FTNT	C	0.17%
DOV	A	0.17%
NTAP	C	0.17%
GEN	B	0.17%
ITW	B	0.17%
BBY	D	0.17%
WY	D	0.17%
CTRA	B	0.17%
DLTR	F	0.17%
PTC	A	0.17%
VMC	B	0.17%
KLAC	D	0.17%
STX	D	0.17%
ULTA	F	0.17%
WDC	D	0.17%
INTC	D	0.16%
PANW	C	0.16%
ADBE	C	0.16%
DVN	F	0.16%
GD	F	0.16%
LH	C	0.16%
TXT	D	0.16%
DGX	A	0.16%
TECH	D	0.15%
SMCI	F	0.15%
A	D	0.15%
GPC	D	0.15%
WAT	B	0.15%
MTD	D	0.15%
MU	D	0.15%
WRB	A	0.14%
IQV	D	0.14%
TMO	F	0.14%
URI	B	0.14%
TRV	B	0.14%
CINF	A	0.14%
ORLY	B	0.14%
CRL	C	0.14%
CB	C	0.14%
HIG	B	0.14%
ACGL	D	0.14%
AMD	F	0.14%
KMX	B	0.14%
EG	C	0.14%
LKQ	D	0.14%
BALL	D	0.13%
FAST	B	0.13%
CDW	F	0.13%
AMCR	D	0.13%
AME	A	0.13%
POOL	C	0.13%
DE	A	0.13%
ACN	C	0.13%
EPAM	C	0.13%
CTSH	B	0.13%
ZBRA	B	0.13%
WAB	B	0.13%
IT	C	0.13%
LDOS	C	0.13%
STT	A	0.12%
HLT	A	0.12%
MAR	B	0.12%
ABNB	C	0.12%
STE	F	0.12%
EXPE	B	0.12%
ISRG	A	0.12%
ZBH	C	0.12%
GWW	B	0.12%
TSCO	D	0.12%
ARE	D	0.11%
VTR	C	0.11%
WELL	A	0.11%
EXR	D	0.11%
DVA	B	0.11%
PSA	D	0.11%
CPT	B	0.11%
BR	A	0.11%
DOC	D	0.11%
BXP	D	0.11%
BKNG	A	0.11%
HST	C	0.11%
UBER	D	0.11%
BK	A	0.11%
DXCM	D	0.1%
PODD	C	0.1%
HOLX	D	0.1%
NWSA	B	0.1%
IDXX	F	0.1%
NWS	B	0.1%
ESS	B	0.1%
RVTY	F	0.1%
ALGN	D	0.1%
MAA	B	0.1%
INVH	D	0.1%
GEHC	F	0.1%
AVB	B	0.1%
EQR	B	0.1%
FOX	A	0.1%
UDR	B	0.1%
TROW	B	0.09%
FMC	D	0.09%
LMT	D	0.09%
BEN	C	0.09%
NOC	D	0.09%
UPS	C	0.09%
EXPD	D	0.09%
AXON	A	0.09%
RCL	A	0.09%
CCL	B	0.09%
CHRW	C	0.09%
CF	B	0.09%
KKR	A	0.09%
NCLH	B	0.09%
LYV	A	0.09%
IVZ	B	0.09%
RMD	C	0.09%
ALLE	D	0.08%
PCG	A	0.08%
SRE	A	0.08%
XEL	A	0.08%
HWM	A	0.08%
EVRG	A	0.08%
LNT	A	0.08%
CARR	D	0.08%
TDG	D	0.08%
JCI	C	0.08%
PH	A	0.08%
UNP	C	0.08%
CMI	A	0.08%
NSC	B	0.08%
GNRC	B	0.08%
WYNN	D	0.08%
ODFL	B	0.08%
RTX	C	0.08%
HII	D	0.08%
BX	A	0.08%
NTRS	A	0.08%
BLK	C	0.08%
LHX	C	0.08%
LVS	C	0.08%
AMP	A	0.08%
MOS	F	0.08%
JBHT	C	0.08%
CSX	B	0.08%
CTVA	C	0.08%
O	D	0.07%
SPG	B	0.07%
SW	A	0.07%
PPG	F	0.07%
FANG	D	0.07%
OXY	D	0.07%
CZR	F	0.07%
COP	C	0.07%
MRO	B	0.07%
MGM	D	0.07%
EOG	A	0.07%
DOW	F	0.07%
APA	D	0.07%
HES	B	0.07%
PNW	B	0.07%
FDX	B	0.07%
WEC	A	0.07%
CE	F	0.07%
ES	D	0.07%
TT	A	0.07%
HBAN	A	0.06%
FI	A	0.06%
USB	A	0.06%
PNC	B	0.06%
RF	A	0.06%
MTB	A	0.06%
EW	C	0.06%
ABT	B	0.06%
MDT	D	0.06%
AVY	D	0.06%
BSX	B	0.06%
IP	B	0.06%
PKG	A	0.06%
REG	B	0.06%
KIM	A	0.06%
PLD	D	0.06%
FRT	B	0.06%
SHW	A	0.06%
SBAC	D	0.06%
VICI	C	0.06%
IRM	D	0.06%
FICO	B	0.05%
IFF	D	0.05%
ECL	D	0.05%
SOLV	C	0.05%
BAX	D	0.05%
APD	A	0.05%
TFX	F	0.05%
WST	C	0.05%
EMN	D	0.05%
DD	D	0.05%
ALB	C	0.05%
JKHY	D	0.05%
MMC	B	0.04%
BRO	B	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
VRSK	A	0.04%
SPGI	C	0.04%
GPN	B	0.04%
FDS	B	0.04%
MCO	B	0.04%
MA	C	0.04%
CBOE	B	0.04%
MSCI	C	0.04%
V	A	0.04%
CPAY	A	0.04%
AXP	A	0.04%
MKTX	D	0.04%
CME	A	0.04%
LIN	D	0.04%
VLTO	D	0.03%
ROK	B	0.03%
NDSN	B	0.03%
TDY	B	0.03%
EMR	A	0.03%
TRMB	B	0.03%
FTV	C	0.03%
AJG	B	0.03%
WTW	B	0.03%

SSPY Underweight 23 Positions Relative to RAVI

Symbol	Grade	Weight
OGS	A	-1.05%
CM	A	-0.62%
GP	F	-0.59%
BNS	A	-0.52%
TD	F	-0.51%
RY	A	-0.51%
VFC	C	-0.39%
OGE	B	-0.39%
ARCC	A	-0.3%
HSBC	B	-0.29%
DB	D	-0.28%
CP	D	-0.27%
ATHS	C	-0.26%
AL	B	-0.25%
NYC	D	-0.21%
BHF	B	-0.17%
SEB	F	-0.16%
UBS	C	-0.16%
AZN	D	-0.15%
NWG	C	-0.15%
MUFG	B	-0.14%
CNH	C	-0.13%
R	B	-0.08%