TLTE vs. NUEM ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to NuShares ESG Emerging Markets Equity ETF (NUEM)

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

$54.73

Average Daily Volume

5,736

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NUEM

NuShares ESG Emerging Markets Equity ETF

NUEM Description

The investment seeks to track the investment results, before fees and expenses, of the TIAA ESG Emerging Markets Equity Index (the "index"). In seeking to track the investment results of the index, the advisor attempts to replicate the index by investing all, or substantially all, of its assets in the securities represented in the index in approximately the same proportions as the index. The index identifies equity securities from the MSCI Emerging Markets Index that satisfy certain ESG criteria, based on ESG performance data collected by MSCI ESG Research, Inc.

Grade (RS Rating)

Last Trade

$29.79

Average Daily Volume

21,892

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	NUEM
30 Days	0.82%	1.57%
60 Days	2.37%	3.73%
90 Days	2.38%	3.40%
12 Months	15.02%	12.29%

18 Overlapping Holdings

Symbol	Grade	Weight in TLTE	Weight in NUEM	Overlap
ATHM	C	0.01%	0.24%	0.01%
BAP	B	0.12%	0.25%	0.12%
BEKE	D	0.02%	0.05%	0.02%
BEKE	D	0.06%	0.05%	0.05%
BGNE	C	0.08%	0.18%	0.08%
CHT	B	0.11%	0.02%	0.02%
ERJ	C	0.05%	0.13%	0.05%
GGB	D	0.05%	0.61%	0.05%
HDB	C	0.82%	2.01%	0.82%
KB	D	0.25%	1.12%	0.25%
LI	D	0.07%	0.17%	0.07%
LPL	F	0.02%	0.32%	0.02%
SHG	C	0.21%	0.43%	0.21%
SKM	B	0.04%	0.3%	0.04%
TME	F	0.02%	0.54%	0.02%
TME	F	0.03%	0.54%	0.03%
UMC	C	0.22%	1.5%	0.22%
VIPS	D	0.05%	0.32%	0.05%

TLTE Overweight 37 Positions Relative to NUEM

Symbol	Grade	Weight
BABA	B	1.9%
IBN	B	0.56%
PDD	F	0.46%
VALE	D	0.39%
BIDU	D	0.25%
TCOM	C	0.19%
SGRP	C	0.16%
MOMO	D	0.11%
FINV	C	0.1%
YUMC	D	0.09%
DQ	D	0.09%
WB	D	0.08%
WIT	C	0.07%
ABEV	D	0.07%
BCH	C	0.06%
ASAI	F	0.06%
NIO	C	0.05%
VIST	D	0.04%
YMM	D	0.04%
KEP	C	0.04%
SBSW	D	0.03%
CSAN	F	0.03%
XPEV	C	0.03%
BRFS	C	0.03%
MNSO	D	0.02%
BILI	C	0.02%
TAL	F	0.02%
IQ	F	0.01%
EH	F	0.01%
IMOS	F	0.01%
IFS	C	0.01%
RLX	F	0.01%
CAR	F	0.01%
GDS	B	0.01%
AKO.A	D	0.01%
ATAT	B	0.01%
YY	C	0.01%

TLTE Underweight 1 Positions Relative to NUEM

	Symbol	Grade	Weight
	BZ	F	-0.43%