USMV vs. RAVI ETF Comparison

Comparison of iShares MSCI USA Minimum Volatility ETF (USMV) to FlexShares Ready Access Variable Income Fund (RAVI)

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.44

Average Daily Volume

72,378

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	USMV	RAVI
30 Days	1.70%	0.41%
60 Days	2.42%	0.65%
90 Days	4.02%	1.23%
12 Months	25.63%	5.45%

35 Overlapping Holdings

Symbol	Grade	Weight in USMV	Weight in RAVI	Overlap
ABBV	D	1.04%	0.13%	0.13%
AEE	A	0.24%	0.17%	0.17%
AEP	D	0.39%	0.38%	0.38%
AMZN	C	0.14%	0.42%	0.14%
AON	A	0.53%	0.46%	0.46%
AZO	C	0.98%	0.52%	0.52%
BDX	F	0.56%	0.51%	0.51%
BMY	B	0.49%	0.43%	0.43%
CI	F	0.21%	0.67%	0.21%
CMCSA	B	0.39%	0.28%	0.28%
CMS	C	0.19%	0.24%	0.19%
CRM	B	0.05%	0.4%	0.05%
CVS	D	0.04%	0.16%	0.04%
CVX	A	0.34%	0.33%	0.33%
D	C	0.23%	0.51%	0.23%
DELL	C	0.12%	0.28%	0.12%
DTE	C	0.2%	0.77%	0.2%
DUK	C	1.49%	0.07%	0.07%
ED	D	1.13%	1.05%	1.05%
GILD	C	0.94%	0.59%	0.59%
HRL	D	0.21%	0.07%	0.07%
ICE	C	0.28%	0.15%	0.15%
KDP	D	0.59%	0.95%	0.59%
MDLZ	F	0.44%	0.09%	0.09%
NVDA	C	0.67%	0.52%	0.52%
OTIS	C	0.07%	0.95%	0.07%
PSX	C	0.06%	0.16%	0.06%
ROP	B	1.3%	0.07%	0.07%
SO	D	1.35%	0.26%	0.26%
T	A	0.74%	0.3%	0.3%
TSN	B	0.71%	0.7%	0.7%
UNH	C	1.34%	0.43%	0.43%
VLO	C	0.05%	1.51%	0.05%
VZ	C	1.35%	0.1%	0.1%
WM	A	1.44%	0.69%	0.69%

USMV Overweight 135 Positions Relative to RAVI

Symbol	Grade	Weight
TMUS	B	1.95%
MSI	B	1.81%
WMT	A	1.78%
PGR	A	1.67%
IBM	C	1.66%
WCN	A	1.56%
RSG	A	1.55%
BRK.A	B	1.55%
CSCO	B	1.47%
CB	C	1.47%
APH	A	1.44%
NOC	D	1.43%
TXN	C	1.39%
MCK	B	1.35%
MSFT	F	1.34%
ORCL	B	1.31%
ACN	C	1.29%
AJG	B	1.27%
MCD	D	1.25%
LLY	F	1.25%
PG	A	1.23%
AVGO	D	1.19%
JNJ	D	1.18%
TRV	B	1.15%
MMC	B	1.11%
MRK	F	1.01%
PEP	F	1.01%
GDDY	A	1.0%
AAPL	C	0.99%
V	A	0.9%
EA	A	0.89%
FCNCA	A	0.88%
CBOE	B	0.85%
LMT	D	0.82%
K	A	0.8%
WEC	A	0.78%
CTSH	B	0.76%
NOW	A	0.75%
MA	C	0.7%
VRTX	F	0.69%
FI	A	0.69%
ORLY	B	0.68%
ACGL	D	0.68%
COR	B	0.67%
GIS	D	0.66%
VRSN	F	0.64%
KR	B	0.61%
AMGN	D	0.59%
FICO	B	0.59%
REGN	F	0.59%
TDY	B	0.57%
KEYS	A	0.55%
FANG	D	0.55%
FFIV	B	0.55%
MPC	D	0.54%
INCY	C	0.53%
CME	A	0.53%
PTC	A	0.52%
ELV	F	0.52%
YUM	B	0.5%
XEL	A	0.46%
NEM	D	0.46%
UBER	D	0.45%
JNPR	F	0.45%
TJX	A	0.45%
XOM	B	0.45%
WDAY	B	0.43%
EG	C	0.43%
ERIE	D	0.42%
VRSK	A	0.42%
CL	D	0.41%
CHD	B	0.4%
HUM	C	0.4%
BAH	F	0.39%
AKAM	D	0.39%
KHC	F	0.38%
WTW	B	0.38%
CTVA	C	0.38%
ROL	B	0.36%
IT	C	0.35%
AFG	A	0.35%
GEN	B	0.35%
CDW	F	0.35%
MKL	A	0.34%
GRMN	B	0.33%
CPB	D	0.33%
AIZ	A	0.32%
NBIX	C	0.32%
WMB	A	0.31%
WRB	A	0.31%
GLW	B	0.31%
FWONK	B	0.31%
HSY	F	0.3%
HD	A	0.3%
ANET	C	0.29%
L	A	0.28%
HON	B	0.25%
HUBS	A	0.24%
ADI	D	0.23%
AZPN	A	0.23%
ALNY	D	0.22%
NTAP	C	0.22%
BMRN	D	0.22%
KMB	D	0.21%
TW	A	0.2%
PKG	A	0.2%
PFE	D	0.2%
DPZ	C	0.19%
CRWD	B	0.19%
CDNS	B	0.18%
MELI	D	0.18%
MOH	F	0.18%
SNPS	B	0.18%
EOG	A	0.17%
HOLX	D	0.16%
LIN	D	0.16%
STX	D	0.16%
GOOG	C	0.16%
UTHR	C	0.14%
MDT	D	0.13%
HIG	B	0.12%
OXY	D	0.12%
DGX	A	0.11%
KO	D	0.1%
LNT	A	0.1%
RTX	C	0.09%
ADP	B	0.09%
ABT	B	0.09%
TEL	B	0.07%
ATO	A	0.06%
FSLR	F	0.06%
KNX	B	0.06%
BR	A	0.05%
GD	F	0.05%
ULTA	F	0.04%

USMV Underweight 66 Positions Relative to RAVI

Symbol	Grade	Weight
OGS	A	-1.05%
PYPL	B	-0.95%
DHR	F	-0.86%
LYB	F	-0.83%
GE	D	-0.76%
CM	A	-0.62%
GP	F	-0.59%
TFC	A	-0.59%
AIG	B	-0.57%
SJM	D	-0.57%
NEE	D	-0.57%
BAC	A	-0.57%
BNS	A	-0.52%
TD	F	-0.51%
RY	A	-0.51%
SYK	C	-0.49%
CCI	D	-0.49%
SCHW	B	-0.42%
VFC	C	-0.39%
OGE	B	-0.39%
ETR	B	-0.38%
NDAQ	A	-0.31%
ARCC	A	-0.3%
HSBC	B	-0.29%
CFG	B	-0.29%
MLM	B	-0.28%
DB	D	-0.28%
CP	D	-0.27%
WFC	A	-0.26%
CAT	B	-0.26%
CLX	B	-0.26%
LEN	D	-0.26%
ATHS	C	-0.26%
GS	A	-0.26%
AL	B	-0.25%
C	A	-0.24%
FIS	C	-0.23%
MCHP	D	-0.22%
FITB	A	-0.22%
PPL	B	-0.22%
FOXA	B	-0.21%
NYC	D	-0.21%
CNP	B	-0.2%
SBUX	A	-0.18%
LUV	C	-0.18%
MKC	D	-0.17%
BHF	B	-0.17%
KEY	B	-0.16%
SEB	F	-0.16%
UBS	C	-0.16%
AZN	D	-0.15%
NWG	C	-0.15%
BA	F	-0.15%
MUFG	B	-0.14%
MET	A	-0.13%
DHI	D	-0.13%
AMT	D	-0.13%
CNH	C	-0.13%
HPE	B	-0.11%
EFX	F	-0.1%
GM	B	-0.1%
R	B	-0.08%
COF	B	-0.06%
MS	A	-0.06%
PCAR	B	-0.05%
JPM	A	-0.03%