VEU vs. TLTE ETF Comparison

Comparison of Vanguard FTSE All World Ex US ETF (VEU) to FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE)

VEU

Vanguard FTSE All World Ex US ETF

VEU Description

The investment seeks to track the performance of a benchmark index that measures the investment return of stocks of companies located in developed and emerging markets outside of the United States. The fund employs an indexing investment approach designed to track the performance of the FTSE All-World ex US Index, a free-float-adjusted, market-capitalization-weighted index designed to measure equity market performance of international markets. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$59.19

Average Daily Volume

2,076,190

Number of Holdings ^*

106

* may have additional holdings in another (foreign) market

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

$53.62

Average Daily Volume

4,149

Number of Holdings ^*

55

* may have additional holdings in another (foreign) market

Performance

Period	VEU	TLTE
30 Days	-2.58%	-3.60%
60 Days	-4.08%	-2.31%
90 Days	-3.78%	-1.68%
12 Months	12.95%	11.52%

54 Overlapping Holdings

	Symbol	Grade	Weight in VEU	Weight in TLTE	Overlap
	ABEV	F	0.02%	0.07%	0.02%
	ABEV	F	0.01%	0.07%	0.01%
	AKO.A	F	0.0%	0.01%	0.0%
	ASAI	F	0.02%	0.05%	0.02%
	ASAI	F	0.0%	0.05%	0.0%
	ATHM	D	0.01%	0.01%	0.01%
	ATHM	D	0.0%	0.01%	0.0%
	BABA	D	0.72%	1.98%	0.72%
	BCH	F	0.02%	0.05%	0.02%
	BEKE	D	0.05%	0.09%	0.05%
	BEKE	D	0.05%	0.03%	0.03%
	BGNE	D	0.04%	0.08%	0.04%
	BIDU	F	0.09%	0.26%	0.09%
	BILI	D	0.02%	0.03%	0.02%
	BRFS	D	0.01%	0.03%	0.01%
	CHT	D	0.03%	0.11%	0.03%
	CHT	D	0.02%	0.11%	0.02%
	CSAN	F	0.01%	0.03%	0.01%
	DQ	F	0.0%	0.13%	0.0%
	ERJ	B	0.02%	0.05%	0.02%
	GDS	C	0.01%	0.03%	0.01%
	GGB	C	0.01%	0.05%	0.01%
	GGB	C	0.01%	0.05%	0.01%
	HDB	C	0.4%	0.83%	0.4%
	IBN	C	0.21%	0.57%	0.21%
	IQ	F	0.0%	0.01%	0.0%
	KB	B	0.04%	0.26%	0.04%
	KB	B	0.04%	0.26%	0.04%
	KEP	B	0.0%	0.04%	0.0%
	KEP	B	0.01%	0.04%	0.01%
	LI	F	0.05%	0.1%	0.05%
	LPL	F	0.01%	0.02%	0.01%
	NIO	F	0.02%	0.05%	0.02%
	PDD	F	0.3%	0.55%	0.3%
	RLX	C	0.0%	0.01%	0.0%
	SBSW	D	0.01%	0.03%	0.01%
	SHG	D	0.02%	0.2%	0.02%
	SHG	D	0.04%	0.2%	0.04%
	TAL	F	0.02%	0.03%	0.02%
	TCOM	B	0.12%	0.26%	0.12%
	TME	D	0.03%	0.03%	0.03%
	TME	D	0.03%	0.02%	0.02%
	UMC	F	0.03%	0.18%	0.03%
	UMC	F	0.03%	0.18%	0.03%
	VALE	F	0.03%	0.38%	0.03%
	VALE	F	0.12%	0.38%	0.12%
	VIPS	F	0.02%	0.05%	0.02%
	WB	D	0.0%	0.1%	0.0%
	WIT	A	0.01%	0.07%	0.01%
	WIT	A	0.02%	0.07%	0.02%
	XPEV	C	0.03%	0.07%	0.03%
	YMM	C	0.02%	0.04%	0.02%
	YUMC	C	0.06%	0.13%	0.06%
	YY	C	0.0%	0.01%	0.0%

VEU Overweight 54 Positions Relative to TLTE

	Symbol	Grade	Weight
	NVS	D	0.77%
	TM	D	0.71%
	HSBH	B	0.59%
	UL	D	0.52%
	MUFG	B	0.41%
	SONY	B	0.37%
	TD	F	0.34%
	SHOP	B	0.33%
	ABBV	D	0.31%
	SMFG	B	0.27%
	DEO	F	0.24%
	CNI	D	0.21%
	MFG	B	0.18%
	HMC	F	0.17%
	BCS	C	0.16%
	WCN	A	0.16%
	LYG	F	0.15%
	FLUT	A	0.14%
	INFY	B	0.12%
	E	F	0.12%
	GOLD	D	0.11%
	STLA	F	0.1%
	SW	A	0.09%
	ITUB	F	0.06%
	NMR	B	0.05%
	XRX	F	0.05%
	LOGI	D	0.04%
	BBD	D	0.03%
	QGEN	D	0.03%
	PKX	F	0.03%
	MBAVU	D	0.02%
	AEI	D	0.02%
	BZ	F	0.02%
	AGCO	D	0.02%
	PBR	C	0.02%
	SQM	F	0.01%
	BSAC	F	0.01%
	RDY	F	0.01%
	TSM	B	0.01%
	CIB	B	0.01%
	CX	D	0.01%
	QFIN	B	0.01%
	JEWL	F	0.0%
	BAK	F	0.0%
	ENIC	D	0.0%
	ELP	F	0.0%
	SID	F	0.0%
	TS	B	0.0%
	TAK	F	0.0%
	EC	D	0.0%
	MNTX	C	0.0%
	VIV	F	0.0%
	CIG	C	0.0%
	PIXY	F	0.0%

VEU Underweight 12 Positions Relative to TLTE

	Symbol	Grade	Weight
	SGRP	D	-0.16%
	BAP	B	-0.13%
	MOMO	D	-0.12%
	FINV	B	-0.11%
	VIST	A	-0.04%
	SKM	D	-0.04%
	MNSO	F	-0.02%
	ATAT	C	-0.02%
	IMOS	F	-0.01%
	EH	F	-0.01%
	IFS	B	-0.01%
	CAR	C	-0.01%

VEU: Top Represented Industries & Keywords

Industries: Internet Content & Information Auto Manufacturers Banks - Regional - Asia Banks - Regional - Latin America Banks - Global Information Technology Services Oil & Gas Integrated Specialty Retail Steel Chemicals Consumer Electronics Drug Manufacturers - Major Drug Manufacturers - Specialty & Generic Gold Semiconductors Software - Application Telecom Services Utilities - Diversified Utilities - Regulated Electric Aerospace & Defense

Keywords: Bank Banking Investment Banking Financial Products Investment Banking Services Currency Investment Product Cash Management Commercial Banking Natural Gas Telecommunications Transport Cars Electricity Factoring Financial Advisory Services Insurance Products Investment Bank Project Finance Securitization

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