TLTE vs. LDEM ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to iShares ESG MSCI EM Leaders ETF (LDEM)

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

$53.59

Average Daily Volume

4,143

Number of Holdings ^*

* may have additional holdings in another (foreign) market

LDEM

iShares ESG MSCI EM Leaders ETF

LDEM Description

The investment seeks to track the investment results of the MSCI EM Extended ESG Leaders 5% Issuer Capped Index. The fund generally will invest at least 90% of its assets in the component securities of the underlying index. The underlying index is a free float-adjusted market capitalization-weighted index designed to reflect the equity performance of emerging market companies with favorable environmental, social and governance (ESG) characteristics. It is non-diversified.

Grade (RS Rating)

Last Trade

$46.96

Average Daily Volume

2,091

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	LDEM
30 Days	-4.32%	-5.23%
60 Days	-1.63%	-1.65%
90 Days	-1.73%	-0.30%
12 Months	11.46%	10.72%

12 Overlapping Holdings

Symbol	Grade	Weight in TLTE	Weight in LDEM	Overlap
BABA	D	1.98%	4.92%	1.98%
BGNE	D	0.08%	0.31%	0.08%
BIDU	F	0.26%	0.69%	0.26%
BILI	D	0.03%	0.14%	0.03%
CHT	C	0.11%	0.41%	0.11%
HDB	C	0.83%	2.41%	0.83%
LI	F	0.1%	0.41%	0.1%
MNSO	D	0.02%	0.05%	0.02%
NIO	F	0.05%	0.18%	0.05%
UMC	F	0.18%	0.45%	0.18%
XPEV	C	0.07%	0.25%	0.07%
YUMC	C	0.13%	0.53%	0.13%

TLTE Overweight 43 Positions Relative to LDEM

Symbol	Grade	Weight
IBN	C	0.57%
PDD	F	0.55%
VALE	F	0.38%
TCOM	B	0.26%
KB	B	0.26%
SHG	C	0.2%
SGRP	D	0.16%
BAP	A	0.13%
DQ	F	0.13%
MOMO	D	0.12%
FINV	B	0.11%
WB	D	0.1%
BEKE	D	0.09%
ABEV	F	0.07%
WIT	B	0.07%
GGB	C	0.05%
BCH	C	0.05%
ERJ	A	0.05%
VIPS	F	0.05%
ASAI	F	0.05%
KEP	B	0.04%
VIST	B	0.04%
SKM	C	0.04%
YMM	C	0.04%
CSAN	F	0.03%
BEKE	D	0.03%
TAL	F	0.03%
SBSW	D	0.03%
GDS	C	0.03%
BRFS	C	0.03%
TME	D	0.03%
ATAT	C	0.02%
TME	D	0.02%
LPL	D	0.02%
IMOS	F	0.01%
IQ	F	0.01%
EH	D	0.01%
RLX	C	0.01%
IFS	A	0.01%
CAR	C	0.01%
ATHM	C	0.01%
AKO.A	F	0.01%
YY	B	0.01%

TLTE Underweight 0 Positions Relative to LDEM

	Symbol	Grade	Weight