VCLT vs. RAVI ETF Comparison

Comparison of Vanguard Long-Term Corporate Bond ETF (VCLT) to FlexShares Ready Access Variable Income Fund (RAVI)

VCLT

Vanguard Long-Term Corporate Bond ETF

VCLT Description

The investment seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity. The fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years. All of the fund's investments will be selected through the sampling process, and at least 80% of the fund's assets will be invested in bonds included in the index.

Grade (RS Rating)

Last Trade

$79.93

Average Daily Volume

2,556,246

Number of Holdings ^*

339

* 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

$75.33

Average Daily Volume

84,845

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	VCLT	RAVI
30 Days	0.06%	0.43%
60 Days	2.12%	0.96%
90 Days	5.30%	1.51%
12 Months	20.46%	5.66%

73 Overlapping Holdings

Symbol	Grade	Weight in VCLT	Weight in RAVI	Overlap
ABBV	C	0.03%	0.13%	0.03%
AEE	A	0.01%	0.17%	0.01%
AEP	C	0.01%	0.38%	0.01%
AIG	C	0.01%	0.57%	0.01%
AMT	D	0.03%	0.13%	0.03%
AMZN	C	0.05%	0.42%	0.05%
AON	A	0.01%	0.46%	0.01%
AZN	D	0.02%	0.15%	0.02%
BA	F	0.01%	0.15%	0.01%
BAC	B	0.02%	0.57%	0.02%
BDX	C	0.01%	0.51%	0.01%
BHF	D	0.04%	0.17%	0.04%
BMY	A	0.03%	0.43%	0.03%
C	B	0.01%	0.24%	0.01%
CAT	A	0.01%	0.26%	0.01%
CCI	D	0.02%	0.49%	0.02%
CFG	C	0.03%	0.29%	0.03%
CI	D	0.02%	0.67%	0.02%
CMCSA	B	0.01%	0.28%	0.01%
CMS	A	0.01%	0.24%	0.01%
CNP	B	0.01%	0.2%	0.01%
CP	C	0.02%	0.27%	0.02%
CRM	B	0.05%	0.4%	0.05%
CVS	D	0.01%	0.16%	0.01%
CVX	B	0.02%	0.33%	0.02%
D	A	0.01%	0.51%	0.01%
DELL	C	0.11%	0.28%	0.11%
DHR	D	0.02%	0.86%	0.02%
DTE	B	0.01%	0.77%	0.01%
DUK	C	0.01%	0.07%	0.01%
ED	C	0.01%	1.05%	0.01%
ETR	A	0.01%	0.38%	0.01%
FIS	A	0.02%	0.23%	0.02%
FITB	C	0.07%	0.22%	0.07%
FOXA	B	0.07%	0.21%	0.07%
GE	B	0.02%	0.76%	0.02%
GILD	A	0.02%	0.59%	0.02%
GM	D	0.01%	0.1%	0.01%
GS	B	0.01%	0.26%	0.01%
HPE	B	0.04%	0.11%	0.04%
HRL	F	0.02%	0.07%	0.02%
HSBC	A	0.02%	0.29%	0.02%
ICE	A	0.02%	0.15%	0.02%
JPM	C	0.01%	0.03%	0.01%
KDP	C	0.01%	0.95%	0.01%
LYB	B	0.01%	0.83%	0.01%
MDLZ	D	0.03%	0.09%	0.03%
MET	A	0.02%	0.13%	0.02%
MKC	C	0.02%	0.17%	0.02%
MLM	F	0.03%	0.28%	0.03%
MS	A	0.05%	0.06%	0.05%
MUFG	D	0.03%	0.14%	0.03%
NDAQ	C	0.02%	0.31%	0.02%
NEE	C	0.01%	0.57%	0.01%
NVDA	B	0.03%	0.52%	0.03%
OGE	C	0.01%	0.39%	0.01%
OGS	C	0.02%	1.05%	0.02%
OTIS	A	0.02%	0.95%	0.02%
PPL	C	0.01%	0.22%	0.01%
PSX	D	0.03%	0.16%	0.03%
PYPL	A	0.03%	0.95%	0.03%
SBUX	B	0.01%	0.18%	0.01%
SCHW	D	0.02%	0.42%	0.02%
SJM	D	0.01%	0.57%	0.01%
SO	A	0.01%	0.26%	0.01%
SYK	C	0.02%	0.49%	0.02%
T	B	0.01%	0.3%	0.01%
TSN	D	0.02%	0.7%	0.02%
UNH	B	0.01%	0.43%	0.01%
VLO	F	0.03%	1.51%	0.03%
VZ	C	0.01%	0.1%	0.01%
WFC	B	0.01%	0.26%	0.01%
WM	B	0.03%	0.69%	0.03%

VCLT Overweight 266 Positions Relative to RAVI

Symbol	Grade	Weight
WIT	C	0.21%
EQH	B	0.09%
MDT	C	0.08%
WY	C	0.07%
DD	C	0.07%
CSCO	A	0.07%
AXP	A	0.06%
COST	C	0.06%
HPQ	B	0.06%
HCA	C	0.06%
CARR	A	0.06%
CAG	D	0.05%
SCCO	B	0.05%
BIIB	F	0.05%
TAP	D	0.05%
L	C	0.04%
WBA	F	0.04%
LIN	C	0.04%
NXPI	F	0.04%
DT	B	0.04%
TJX	D	0.04%
GPN	F	0.04%
JNPR	C	0.04%
NEM	C	0.04%
GOOGL	B	0.04%
BHP	B	0.04%
AVGO	B	0.04%
ORCL	A	0.04%
AAPL	C	0.04%
ORI	A	0.03%
FTV	C	0.03%
FANG	D	0.03%
AAL	D	0.03%
STE	D	0.03%
WU	D	0.03%
WRK	C	0.03%
NOV	F	0.03%
OHI	C	0.03%
LH	D	0.03%
LEA	F	0.03%
DG	F	0.03%
CPT	C	0.03%
PKG	B	0.03%
RPM	A	0.03%
SPGI	C	0.03%
CME	A	0.03%
CF	A	0.03%
RPRX	D	0.03%
APD	C	0.03%
AMAT	C	0.03%
EBAY	A	0.03%
DVN	F	0.03%
MAR	A	0.03%
ITW	C	0.03%
CB	A	0.03%
RJF	B	0.03%
VTRS	D	0.03%
MPLX	B	0.03%
ALLY	F	0.03%
INTC	D	0.03%
TMUS	A	0.03%
CHTR	D	0.03%
ABT	C	0.03%
WPC	C	0.02%
PWR	A	0.02%
PECO	C	0.02%
REGN	D	0.02%
CHD	D	0.02%
ZBH	F	0.02%
STLD	C	0.02%
FE	C	0.02%
FMC	C	0.02%
BAX	D	0.02%
CMI	A	0.02%
CL	D	0.02%
CINF	A	0.02%
LHX	A	0.02%
O	C	0.02%
IVZ	A	0.02%
HOG	D	0.02%
SBRA	C	0.02%
TEL	D	0.02%
AFG	A	0.02%
CPB	D	0.02%
VMI	B	0.02%
XYL	C	0.02%
WTRG	D	0.02%
WHR	C	0.02%
AJG	C	0.02%
AVY	D	0.02%
KSS	D	0.02%
NWE	C	0.02%
MSI	A	0.02%
K	B	0.02%
PAA	B	0.02%
LRCX	D	0.02%
GWW	B	0.02%
KLAC	B	0.02%
EMN	C	0.02%
ADI	B	0.02%
ROK	D	0.02%
PH	A	0.02%
MOS	F	0.02%
LNC	B	0.02%
VRSK	D	0.02%
EG	A	0.02%
ES	D	0.02%
STZ	D	0.02%
MCO	D	0.02%
AFL	A	0.02%
NI	A	0.02%
TXN	C	0.02%
SWK	C	0.02%
DE	C	0.02%
TGT	C	0.02%
HES	D	0.02%
DOW	B	0.02%
UPS	D	0.02%
ECL	C	0.02%
MPC	D	0.02%
HAL	D	0.02%
EPD	A	0.02%
JNJ	D	0.02%
PEP	F	0.02%
PM	D	0.02%
MA	A	0.02%
WMT	A	0.02%
NOC	B	0.02%
QCOM	D	0.02%
IBM	A	0.02%
COP	D	0.02%
RTX	A	0.02%
PFE	D	0.02%
XOM	A	0.02%
VOD	D	0.02%
GSK	F	0.02%
V	B	0.02%
HIW	C	0.01%
FRT	D	0.01%
AGO	B	0.01%
AMH	D	0.01%
EXR	D	0.01%
BXP	B	0.01%
BWA	C	0.01%
AVA	D	0.01%
APTV	D	0.01%
DRI	C	0.01%
ALB	D	0.01%
INGR	B	0.01%
IDA	D	0.01%
EMR	B	0.01%
MAA	D	0.01%
LXP	D	0.01%
OPI	F	0.01%
JD	A	0.01%
SIGI	D	0.01%
EA	D	0.01%
DOC	C	0.01%
ADC	C	0.01%
BEN	F	0.01%
CACC	F	0.01%
FNF	C	0.01%
AES	C	0.01%
PHM	C	0.01%
PFG	A	0.01%
PEG	A	0.01%
VTR	C	0.01%
ESS	D	0.01%
MAS	C	0.01%
RF	B	0.01%
REG	C	0.01%
EE	B	0.01%
BKH	C	0.01%
SWX	C	0.01%
VOYA	A	0.01%
SNA	C	0.01%
DOV	C	0.01%
KRC	C	0.01%
EQIX	C	0.01%
KIM	C	0.01%
UDR	C	0.01%
TT	A	0.01%
UAL	A	0.01%
MKL	B	0.01%
HSY	D	0.01%
IPG	D	0.01%
KOF	D	0.01%
EOG	B	0.01%
CAH	B	0.01%
WELL	C	0.01%
WRB	C	0.01%
PNW	C	0.01%
PLD	D	0.01%
RSG	D	0.01%
PG	D	0.01%
HIG	A	0.01%
JEF	A	0.01%
IFF	D	0.01%
HAS	A	0.01%
EVRG	C	0.01%
ETN	B	0.01%
AWK	D	0.01%
AVB	C	0.01%
UNM	A	0.01%
WEC	B	0.01%
EQR	C	0.01%
ATO	A	0.01%
ZTS	C	0.01%
SRE	C	0.01%
PGR	B	0.01%
VMC	D	0.01%
NNN	C	0.01%
NUE	D	0.01%
HUM	F	0.01%
EXC	C	0.01%
LNT	B	0.01%
OC	C	0.01%
ACGL	A	0.01%
XEL	C	0.01%
SPG	A	0.01%
WLK	C	0.01%
GLW	C	0.01%
JCI	C	0.01%
EL	D	0.01%
ALL	A	0.01%
TRV	B	0.01%
TMO	D	0.01%
MMC	D	0.01%
LLY	D	0.01%
HON	C	0.01%
JBLU	B	0.01%
KR	C	0.01%
FDX	F	0.01%
CSX	D	0.01%
EIX	C	0.01%
KMB	D	0.01%
ADM	F	0.01%
ARE	D	0.01%
PRU	B	0.01%
IP	C	0.01%
GIS	C	0.01%
KMI	A	0.01%
GD	C	0.01%
WMB	A	0.01%
SHW	C	0.01%
OKE	A	0.01%
MRO	B	0.01%
NSC	C	0.01%
LOW	C	0.01%
BSX	A	0.01%
LMT	A	0.01%
ET	A	0.01%
SYY	D	0.01%
MMM	C	0.01%
NKE	D	0.01%
MO	D	0.01%
MCD	A	0.01%
MRK	F	0.01%
UNP	F	0.01%
DIS	D	0.01%
BABA	A	0.01%
PCG	C	0.01%
KO	C	0.01%
HD	A	0.01%
AMGN	D	0.01%
MSFT	D	0.01%

VCLT Underweight 28 Positions Relative to RAVI

Symbol	Grade	Weight
CM	C	-0.62%
GP	D	-0.59%
TFC	D	-0.59%
AZO	D	-0.52%
BNS	C	-0.52%
TD	B	-0.51%
RY	C	-0.51%
VFC	A	-0.39%
ARCC	A	-0.3%
DB	A	-0.28%
CLX	C	-0.26%
LEN	C	-0.26%
ATHS	A	-0.26%
AL	D	-0.25%
MCHP	F	-0.22%
NYC	D	-0.21%
LUV	B	-0.18%
KEY	B	-0.16%
SEB	F	-0.16%
UBS	B	-0.16%
NWG	B	-0.15%
DHI	C	-0.13%
CNH	C	-0.13%
EFX	D	-0.1%
R	C	-0.08%
ROP	D	-0.07%
COF	A	-0.06%
PCAR	D	-0.05%