TLTE vs. AVEM ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to Avantis Emerging Markets Equity ETF (AVEM)

TLTE

FlexShares Morningstar Emerging Markets Factor Tilt Index Fund

TLTE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar® Emerging Markets Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index reflects the performance of a selection of equity securities designed to provide broad exposure to the global emerging equities markets, with increased exposure (or a "tilt") to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$55.10

Average Daily Volume

4,789

Number of Holdings ^*

55

* may have additional holdings in another (foreign) market

AVEM

Avantis Emerging Markets Equity ETF

AVEM Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of companies related to emerging markets across market sectors, industry groups and countries. The fund may invest in companies of all market capitalizations. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities of companies related to emerging market countries.

Grade (RS Rating)

Last Trade

$62.59

Average Daily Volume

449,702

Number of Holdings ^*

120

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	AVEM
30 Days	-5.40%	-5.25%
60 Days	2.07%	1.71%
90 Days	5.63%	5.78%
12 Months	19.31%	23.07%

52 Overlapping Holdings

	Symbol	Grade	Weight in TLTE	Weight in AVEM	Overlap
	ABEV	F	0.07%	0.06%	0.06%
	AKO.A	F	0.01%	0.03%	0.01%
	ASAI	F	0.05%	0.02%	0.02%
	ASAI	F	0.05%	0.06%	0.05%
	ATAT	B	0.02%	0.02%	0.02%
	ATHM	D	0.01%	0.07%	0.01%
	BABA	B	2.01%	1.56%	1.56%
	BAP	B	0.13%	0.18%	0.13%
	BCH	D	0.05%	0.05%	0.05%
	BEKE	A	0.02%	0.24%	0.02%
	BEKE	A	0.08%	0.24%	0.08%
	BGNE	C	0.08%	0.03%	0.03%
	BIDU	F	0.26%	0.04%	0.04%
	BILI	A	0.03%	0.0%	0.0%
	BRFS	C	0.03%	0.06%	0.03%
	CAR	C	0.01%	0.05%	0.01%
	CHT	D	0.1%	0.11%	0.1%
	CSAN	F	0.03%	0.01%	0.01%
	DQ	A	0.13%	0.05%	0.05%
	ERJ	C	0.05%	0.21%	0.05%
	FINV	B	0.11%	0.06%	0.06%
	GDS	B	0.03%	0.04%	0.03%
	GGB	F	0.04%	0.12%	0.04%
	HDB	B	0.83%	0.44%	0.44%
	IBN	A	0.55%	0.4%	0.4%
	IFS	A	0.01%	0.01%	0.01%
	IMOS	F	0.01%	0.01%	0.01%
	IQ	C	0.01%	0.05%	0.01%
	KB	B	0.26%	0.44%	0.26%
	KEP	A	0.04%	0.04%	0.04%
	LI	C	0.11%	0.26%	0.11%
	LPL	F	0.02%	0.05%	0.02%
	MNSO	A	0.02%	0.03%	0.02%
	MOMO	A	0.12%	0.06%	0.06%
	NIO	D	0.05%	0.04%	0.04%
	PDD	C	0.57%	0.82%	0.57%
	SBSW	B	0.03%	0.08%	0.03%
	SGRP	B	0.16%	0.03%	0.03%
	SHG	D	0.2%	0.35%	0.2%
	SKM	D	0.04%	0.02%	0.02%
	TAL	B	0.03%	0.07%	0.03%
	TCOM	A	0.24%	0.2%	0.2%
	TME	D	0.02%	0.11%	0.02%
	TME	D	0.03%	0.11%	0.03%
	UMC	F	0.19%	0.29%	0.19%
	VALE	F	0.39%	0.39%	0.39%
	VIPS	F	0.05%	0.23%	0.05%
	WB	B	0.1%	0.04%	0.04%
	WIT	B	0.07%	0.07%	0.07%
	XPEV	B	0.05%	0.0%	0.0%
	YUMC	A	0.11%	0.3%	0.11%
	YY	D	0.01%	0.03%	0.01%

TLTE Overweight 4 Positions Relative to AVEM

	Symbol	Grade	Weight
	YMM	B	0.05%
	VIST	B	0.04%
	EH	B	0.01%
	RLX	F	0.01%

TLTE Underweight 70 Positions Relative to AVEM

	Symbol	Grade	Weight
	TSM	B	-6.25%
	INFY	D	-0.71%
	NTES	F	-0.56%
	PBR	F	-0.37%
	ITUB	F	-0.31%
	PKX	F	-0.28%
	ASX	C	-0.28%
	ZTO	C	-0.27%
	GFI	B	-0.22%
	HMY	B	-0.17%
	QFIN	B	-0.17%
	RDY	D	-0.16%
	CPNG	B	-0.15%
	FMX	F	-0.14%
	BBD	F	-0.14%
	SUZ	C	-0.11%
	TLK	F	-0.11%
	CX	F	-0.09%
	SBS	F	-0.09%
	PAC	D	-0.09%
	ASR	F	-0.08%
	SCCO	B	-0.08%
	UGP	F	-0.08%
	HTHT	B	-0.08%
	OMAB	F	-0.07%
	TKC	F	-0.06%
	CIG	D	-0.06%
	STNE	F	-0.06%
	SID	F	-0.05%
	SQM	D	-0.05%
	BSAC	D	-0.05%
	NU	C	-0.05%
	BVN	D	-0.05%
	TV	B	-0.04%
	EC	F	-0.04%
	JD	A	-0.04%
	CIB	D	-0.04%
	KT	A	-0.04%
	EBR	F	-0.04%
	SSL	F	-0.04%
	PAGS	F	-0.03%
	PHI	F	-0.03%
	BSBR	F	-0.03%
	XP	F	-0.02%
	VLRS	A	-0.02%
	ELP	F	-0.02%
	HUYA	D	-0.01%
	BAK	F	-0.01%
	VIV	F	-0.01%
	SOHU	D	-0.01%
	CCU	D	-0.01%
	BZ	C	-0.01%
	NOAH	B	-0.01%
	LX	B	-0.01%
	VNET	B	-0.01%
	XYF	B	-0.0%
	CANG	A	-0.0%
	YRD	B	-0.0%
	CAAS	A	-0.0%
	DAO	A	-0.0%
	TUYA	D	-0.0%
	SHPH	D	-0.0%
	NIU	B	-0.0%
	API	B	-0.0%
	QD	A	-0.0%
	GOTU	F	-0.0%
	AZUL	F	-0.0%
	GRIN	A	-0.0%
	PDSB	F	-0.0%
	PAX	B	-0.0%

TLTE: Top Represented Industries & Keywords

Industries: Internet Content & Information Banks - Regional - Asia Specialty Retail Auto Manufacturers Banks - Regional - Latin America Aerospace & Defense Semiconductors Telecom Services Beverages - Brewers Beverages - Non-Alcoholic Biotechnology Business Services Consumer Electronics Credit Services Data Storage Education & Training Services Gold Grocery Stores Industrial Metals & Minerals Information Technology Services

Keywords: Bank Banking Investment Banking Transport Advertising Services Currency Games Investment Banking Services Collection Services Commercial Banking Electric Vehicle Electronics Financial Products Nasdaq 100 Online Game Retail Banking Retailing Securitization Social Networking Services Account Management

AVEM: Top Represented Industries & Keywords

Industries: Internet Content & Information Banks - Regional - Latin America Telecom Services Credit Services Specialty Retail Auto Manufacturers Banks - Regional - Asia Semiconductors Airports & Air Services Beverages - Brewers Gold Information Technology Services Oil & Gas Integrated Steel Airlines Asset Management Biotechnology Chemicals Drug Manufacturers - Specialty & Generic Education & Training Services

Keywords: Bank Banking Broadband Investment Banking Cloud Computing Currency Games Internet Access Investment Product Natural Gas Telecommunications Advertising Services Consumer Finance Electronics Financial Products Online Game Commercial Banking Credit E-Commerce Information And Communications Technology