TLTE vs. AVXC ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to Avantis Emerging Markets ex-China Equity ETF (AVXC)

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 MorningstarÂ® 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

$53.68

Average Daily Volume

4,116

Number of Holdings ^*

* may have additional holdings in another (foreign) market

AVXC

Avantis Emerging Markets ex-China Equity ETF

AVXC Description

AVXC aims to achieve long-term capital growth by investing in a varied selection of companies from emerging markets, with China being a notable exception. It prioritizes companies with smaller market capitalizations that exhibit strong profitability and value characteristics. The manager utilizes financial data and market information to identify suitable securities, focusing on metrics like adjusted book/price and cash from operations to book value ratios. Additional factors considered include industry classification, historical performance, liquidity, among others. Security weightings are determined based on market capitalization and potential for returns relative to its peers. AVXC adjusts its holdings according to desired characteristics and may reduce exposure or sell if criteria are not met, considering past performance, expected returns, implementation costs, and tax implications. The fund has the capability to invest in foreign-denominated securities and partake in securities lending activities.

Grade (RS Rating)

Last Trade

$50.95

Average Daily Volume

16,205

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	AVXC
30 Days	-5.45%	-6.18%
60 Days	-0.92%	-5.53%
90 Days	-0.98%	-5.10%
12 Months	11.27%

25 Overlapping Holdings

Symbol	Grade	Weight in TLTE	Weight in AVXC	Overlap
ABEV	D	0.07%	0.1%	0.07%
AKO.A	D	0.01%	0.06%	0.01%
ASAI	F	0.05%	0.13%	0.05%
BAP	A	0.12%	0.3%	0.12%
BCH	D	0.05%	0.11%	0.05%
BRFS	D	0.03%	0.06%	0.03%
CAR	C	0.01%	0.11%	0.01%
CHT	D	0.1%	0.11%	0.1%
CSAN	F	0.03%	0.08%	0.03%
ERJ	A	0.05%	0.22%	0.05%
GGB	B	0.05%	0.16%	0.05%
HDB	C	0.83%	0.78%	0.78%
IBN	C	0.57%	0.47%	0.47%
IFS	A	0.01%	0.06%	0.01%
IMOS	F	0.01%	0.01%	0.01%
KB	C	0.26%	0.53%	0.26%
KEP	B	0.04%	0.05%	0.04%
LPL	F	0.02%	0.12%	0.02%
SBSW	D	0.03%	0.17%	0.03%
SGRP	D	0.16%	0.08%	0.08%
SHG	D	0.2%	0.37%	0.2%
SKM	D	0.04%	0.08%	0.04%
UMC	F	0.18%	0.27%	0.18%
VALE	F	0.4%	0.68%	0.4%
WIT	B	0.07%	0.1%	0.07%

TLTE Overweight 30 Positions Relative to AVXC

Symbol	Grade	Weight
BABA	D	2.01%
PDD	F	0.56%
BIDU	F	0.27%
TCOM	B	0.26%
DQ	D	0.13%
YUMC	B	0.13%
MOMO	D	0.12%
FINV	C	0.11%
WB	F	0.1%
LI	F	0.1%
BEKE	C	0.09%
BGNE	D	0.08%
XPEV	C	0.06%
YMM	C	0.05%
NIO	F	0.05%
VIPS	F	0.05%
VIST	C	0.04%
BEKE	C	0.03%
GDS	B	0.03%
BILI	C	0.03%
TAL	D	0.03%
TME	F	0.03%
MNSO	D	0.02%
ATAT	B	0.02%
TME	F	0.02%
IQ	F	0.01%
RLX	C	0.01%
EH	C	0.01%
ATHM	D	0.01%
YY	C	0.01%

TLTE Underweight 45 Positions Relative to AVXC

Symbol	Grade	Weight
TSM	B	-8.36%
INFY	D	-0.9%
PBR	D	-0.44%
ITUB	D	-0.41%
ASX	F	-0.32%
BBD	D	-0.3%
RDY	D	-0.21%
GFI	F	-0.21%
PAC	A	-0.18%
NU	C	-0.18%
SUZ	B	-0.16%
CIG	C	-0.16%
FMX	F	-0.15%
EBR	F	-0.14%
SBS	C	-0.13%
TLK	F	-0.13%
SCCO	F	-0.11%
CX	F	-0.1%
HMY	F	-0.1%
VIV	D	-0.09%
TWI	F	-0.09%
TKC	C	-0.09%
ASR	F	-0.09%
TV	F	-0.08%
SQM	D	-0.08%
OMAB	F	-0.08%
PKX	F	-0.06%
XP	F	-0.06%
SID	F	-0.05%
VLRS	B	-0.05%
BSBR	F	-0.04%
UGP	F	-0.04%
SSL	F	-0.04%
PHI	F	-0.04%
CIB	C	-0.04%
PAGS	F	-0.04%
CCU	F	-0.04%
BSAC	D	-0.03%
KT	C	-0.03%
PAX	C	-0.02%
EC	D	-0.02%
BAK	F	-0.02%
BVN	F	-0.02%
AZUL	F	-0.0%
SHPH	F	-0.0%