TLTE vs. VYMI ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to Vanguard International High Dividend Yield ETF (VYMI)

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

$57.96

Average Daily Volume

5,453

Number of Holdings ^*

55

* may have additional holdings in another (foreign) market

VYMI

Vanguard International High Dividend Yield ETF

VYMI Description

Vanguard International High Dividend Yield ETF seeks to track the performance of the FTSE All-World ex US High Dividend Yield Index, which focuses on companies located in developed and emerging markets, excluding the United States, that are forecasted to have above-average dividend yields. The fund invests by sampling the index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full index in terms of key characteristics. These key characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield. The experience and stability of Vanguard%u2019s Equity Index Group have permitted continuous refinement of techniques for reducing tracking error. The group uses proprietary software to implement trading decisions that accommodate cash flow and maintain close correlation with index characteristics. Vanguard%u2019s refined indexing process, combined with low management fees and efficient trading, has provided tight tracking net of expenses.

Grade (RS Rating)

Last Trade

$73.23

Average Daily Volume

399,997

Number of Holdings ^*

39

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	VYMI
30 Days	9.12%	3.56%
60 Days	14.98%	11.40%
90 Days	6.95%	5.66%
12 Months	26.47%	26.81%

15 Overlapping Holdings

	Symbol	Grade	Weight in TLTE	Weight in VYMI	Overlap
	ABEV	B	0.07%	0.0%	0.0%
	ABEV	B	0.07%	0.07%	0.07%
	AKO.A	D	0.01%	0.01%	0.01%
	ASAI	F	0.05%	0.06%	0.05%
	ATHM	B	0.01%	0.01%	0.01%
	BCH	D	0.05%	0.04%	0.04%
	CHT	C	0.11%	0.11%	0.11%
	CSAN	D	0.03%	0.02%	0.02%
	GGB	B	0.05%	0.03%	0.03%
	KB	D	0.23%	0.16%	0.16%
	SBSW	C	0.03%	0.02%	0.02%
	SHG	D	0.21%	0.15%	0.15%
	UMC	D	0.21%	0.15%	0.15%
	VALE	D	0.41%	0.3%	0.3%
	YY	C	0.01%	0.01%	0.01%

TLTE Overweight 41 Positions Relative to VYMI

	Symbol	Grade	Weight
	BABA	A	1.95%
	HDB	D	0.84%
	IBN	C	0.57%
	PDD	B	0.53%
	BIDU	C	0.27%
	TCOM	A	0.2%
	SGRP	C	0.18%
	BAP	A	0.12%
	MOMO	B	0.12%
	FINV	A	0.1%
	LI	C	0.1%
	YUMC	B	0.1%
	DQ	C	0.1%
	WB	B	0.09%
	BGNE	A	0.08%
	BEKE	A	0.07%
	NIO	C	0.06%
	WIT	C	0.06%
	ERJ	C	0.05%
	VIPS	B	0.05%
	TME	B	0.04%
	KEP	F	0.04%
	VIST	C	0.04%
	YMM	A	0.04%
	SKM	C	0.04%
	XPEV	C	0.04%
	GDS	B	0.03%
	BRFS	D	0.03%
	ATAT	A	0.02%
	TME	B	0.02%
	BEKE	A	0.02%
	BILI	B	0.02%
	TAL	C	0.02%
	LPL	D	0.02%
	IMOS	D	0.01%
	IQ	D	0.01%
	EH	C	0.01%
	IFS	B	0.01%
	RLX	D	0.01%
	CAR	D	0.01%
	MNSO	C	0.01%

TLTE Underweight 24 Positions Relative to VYMI

	Symbol	Grade	Weight
	NVS	D	-1.79%
	TM	D	-1.64%
	UL	D	-1.16%
	MUFG	D	-0.83%
	TD	B	-0.77%
	SMFG	D	-0.59%
	HMC	D	-0.38%
	MFG	B	-0.38%
	LYG	C	-0.35%
	BCS	B	-0.33%
	E	C	-0.27%
	STLA	F	-0.25%
	SW	C	-0.18%
	NMR	F	-0.12%
	AEI	C	-0.04%
	AGCO	D	-0.04%
	ITUB	D	-0.03%
	CIB	D	-0.03%
	ASX	D	-0.02%
	EC	F	-0.02%
	QFIN	A	-0.02%
	VIV	C	-0.01%
	BSAC	D	-0.01%
	CIG	C	-0.01%

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

VYMI: Top Represented Industries & Keywords

Industries: Banks - Global Banks - Regional - Latin America Auto Manufacturers Banks - Regional - Asia Internet Content & Information Oil & Gas Integrated Semiconductors Telecom Services Banks - Regional - Europe Beverages - Brewers Beverages - Non-Alcoholic Capital Markets Credit Services Drug Manufacturers - Major Farm & Construction Equipment Gold Grocery Stores Household & Personal Products Industrial Metals & Minerals Oil & Gas Refining & Marketing

Keywords: Bank Financial Products Investment Banking Banking Investment Banking Services Currency Investment Product Commercial Banking Factoring Financial Advisory Services Insurance Products Investment Bank Project Finance Securitization Asset Management Cash Management Corporate Banking Structured Finance Advisory Services Asset Management Services