VLUE vs. LKOR ETF Comparison

Comparison of iShares MSCI USA Value Factor (VLUE) to FlexShares Credit-Scored US Long Corporate Bond Index Fund (LKOR)

VLUE

iShares MSCI USA Value Factor

VLUE Description

The investment seeks to track the performance of MSCI USA Value Weighted Index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations, before fees and expenses. The fund generally invests at least 90% of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The MSCI USA Value Weighted Index (the "underlying index") is based on a traditional market capitalization-weighted parent index, the MSCI USA Index, which includes U.S. large- and mid- capitalization stocks.

Grade (RS Rating)

Last Trade

$108.37

Average Daily Volume

287,942

Number of Holdings ^*

148

* may have additional holdings in another (foreign) market

LKOR

FlexShares Credit-Scored US Long Corporate Bond Index Fund

LKOR Description

Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund is an exchange traded fund launched by Northern Trust Corporation. It is managed by Northern Trust Investments, Incorporated. The fund invests in fixed income markets of the United States. It invests in US-dollar denominated investment grade bonds of companies rated BBB or higher by S&P or Fitch or Baa3 or higher by Moody's and with maturities greater than or equal to ten years. The fund seeks to track the performance of the Northern Trust Credit-Scored US Long Corporate Bond Index, by employing representative sampling methodology. Flexshares Trust - FlexShares Credit-Scored US Long Corporate Bond Index Fund was formed on September 23, 2015 and is domiciled in the United States.

Grade (RS Rating)

Last Trade

$45.80

Average Daily Volume

9,003

Number of Holdings ^*

163

* may have additional holdings in another (foreign) market

Performance

Period	VLUE	LKOR
30 Days	2.72%	1.78%
60 Days	0.72%	7.28%
90 Days	5.01%	7.48%
12 Months	20.95%	18.08%

41 Overlapping Holdings

Symbol	Grade	Weight in VLUE	Weight in LKOR	Overlap
AIG	D	0.51%	0.23%	0.23%
APTV	D	0.18%	0.13%	0.13%
ATO	B	0.22%	0.23%	0.22%
BAC	D	1.95%	0.23%	0.23%
C	D	1.57%	0.21%	0.21%
CAG	C	0.29%	0.24%	0.24%
CSCO	B	5.84%	0.23%	0.23%
CVS	F	1.67%	0.36%	0.36%
D	B	0.5%	0.23%	0.23%
DOW	D	0.28%	0.32%	0.28%
EG	C	0.18%	0.2%	0.18%
ELV	C	1.4%	0.1%	0.1%
FITB	B	0.2%	0.39%	0.2%
FOXA	B	0.3%	0.24%	0.24%
GILD	B	1.27%	0.35%	0.35%
GLW	B	1.05%	0.1%	0.1%
GM	B	3.06%	0.13%	0.13%
GS	C	1.21%	0.21%	0.21%
HIG	B	0.24%	0.2%	0.2%
HPE	D	1.19%	0.37%	0.37%
HPQ	D	1.13%	0.24%	0.24%
IBM	A	4.24%	0.23%	0.23%
INTC	F	3.09%	0.37%	0.37%
JCI	B	0.55%	0.13%	0.13%
LH	C	0.24%	0.23%	0.23%
LHX	C	0.52%	0.05%	0.05%
LYB	F	0.26%	0.23%	0.23%
MET	A	0.45%	0.14%	0.14%
MO	C	1.44%	0.2%	0.2%
MRO	C	0.42%	0.22%	0.22%
OC	D	0.32%	0.11%	0.11%
PCG	B	0.62%	0.09%	0.09%
PRU	C	0.44%	0.11%	0.11%
RF	B	0.18%	0.28%	0.18%
RPRX	D	0.22%	0.09%	0.09%
SJM	C	0.26%	0.1%	0.1%
T	C	6.04%	0.09%	0.09%
TEL	D	1.05%	0.28%	0.28%
VZ	B	3.25%	0.18%	0.18%
WBA	F	0.24%	0.1%	0.1%
WFC	D	1.43%	0.25%	0.25%

VLUE Overweight 107 Positions Relative to LKOR

Symbol	Grade	Weight
AMAT	D	2.77%
PFE	C	2.56%
RTX	C	1.86%
DHI	C	1.77%
LEN	C	1.72%
F	F	1.71%
CI	C	1.62%
BMY	C	1.42%
NXPI	D	1.24%
SPG	A	1.2%
FDX	F	1.2%
CTSH	C	1.15%
PHM	B	1.06%
KHC	C	0.88%
ON	F	0.78%
CNC	C	0.78%
VLO	F	0.78%
DELL	C	0.77%
ADM	D	0.77%
KR	C	0.76%
URI	B	0.71%
WBD	D	0.68%
PCAR	D	0.67%
FANG	D	0.61%
WY	C	0.6%
SWKS	F	0.59%
NTAP	D	0.54%
COF	A	0.52%
CMI	C	0.52%
TFC	D	0.51%
FSLR	C	0.47%
NUE	F	0.46%
USB	B	0.45%
TSN	D	0.44%
VTRS	D	0.43%
BK	A	0.43%
BBY	C	0.42%
ZM	C	0.41%
BLDR	C	0.39%
GEN	B	0.39%
JNPR	A	0.37%
EXPE	C	0.37%
FFIV	B	0.35%
TAP	D	0.35%
PPL	B	0.33%
CTRA	D	0.33%
OVV	F	0.31%
QRVO	F	0.31%
WAB	A	0.29%
VST	A	0.28%
JBL	D	0.27%
PARA	F	0.27%
EVRG	B	0.27%
MTB	A	0.26%
SSNC	B	0.26%
LKQ	F	0.26%
TXT	D	0.26%
HST	C	0.25%
ES	C	0.25%
CFG	C	0.24%
STT	B	0.24%
EQT	D	0.23%
STLD	D	0.23%
AZPN	B	0.22%
UHS	B	0.22%
BG	D	0.22%
UTHR	C	0.22%
TWLO	C	0.22%
GPN	D	0.22%
MAA	C	0.21%
LDOS	B	0.19%
SNA	C	0.19%
KNX	D	0.19%
DGX	C	0.19%
SYF	C	0.18%
MOS	F	0.18%
DINO	F	0.18%
DAL	C	0.18%
IP	C	0.17%
CNH	D	0.17%
APA	F	0.17%
FOX	B	0.16%
AKAM	D	0.16%
CHK	D	0.16%
HBAN	B	0.15%
CF	C	0.15%
SOLV	C	0.15%
CPT	B	0.14%
SWK	B	0.13%
ACI	F	0.13%
L	D	0.13%
UHAL	B	0.13%
FBIN	B	0.13%
HII	D	0.13%
KEY	B	0.12%
SW	C	0.12%
NLY	B	0.12%
EMN	B	0.11%
LUV	C	0.11%
FCNCA	D	0.1%
EQH	C	0.1%
DVA	B	0.09%
ALLY	D	0.09%
FNF	B	0.09%
BIO	C	0.06%
BEN	F	0.06%
WLK	D	0.05%

VLUE Underweight 122 Positions Relative to LKOR

Symbol	Grade	Weight
PM	C	-0.7%
SCCO	D	-0.64%
ACGL	B	-0.55%
DUK	B	-0.5%
HSBC	B	-0.48%
LNT	B	-0.4%
V	C	-0.4%
KOF	D	-0.37%
BA	F	-0.37%
NI	B	-0.37%
ABBV	C	-0.33%
CAH	C	-0.31%
CP	C	-0.29%
NNN	C	-0.29%
ED	C	-0.29%
AEP	C	-0.28%
AMT	C	-0.27%
KMB	D	-0.26%
JEF	B	-0.26%
MMM	A	-0.26%
NOC	A	-0.26%
CHTR	D	-0.26%
HON	D	-0.25%
LOW	A	-0.25%
ORCL	B	-0.25%
AEE	A	-0.24%
NEM	B	-0.24%
WEC	B	-0.24%
CMS	B	-0.24%
MMC	C	-0.24%
GWW	A	-0.24%
BHP	D	-0.24%
CMCSA	D	-0.24%
HCA	A	-0.24%
DOV	B	-0.24%
KDP	B	-0.24%
MKL	C	-0.24%
OKE	B	-0.24%
LMT	B	-0.24%
PGR	A	-0.23%
MCK	F	-0.23%
TXN	C	-0.23%
WRB	C	-0.23%
BDX	F	-0.23%
SBUX	C	-0.23%
AMGN	B	-0.23%
MA	B	-0.22%
EXC	B	-0.22%
VMI	D	-0.22%
EL	F	-0.21%
NVDA	D	-0.21%
SRE	B	-0.21%
SHW	B	-0.21%
EIX	C	-0.21%
KLAC	D	-0.2%
AVGO	C	-0.2%
PAA	C	-0.2%
STZ	D	-0.19%
NDAQ	A	-0.19%
ZTS	C	-0.19%
KO	B	-0.19%
CCI	C	-0.19%
KMI	A	-0.19%
HD	A	-0.19%
LEA	F	-0.18%
EBAY	B	-0.18%
CPB	B	-0.18%
AIZ	B	-0.18%
ARE	C	-0.18%
AMZN	C	-0.18%
EPD	B	-0.18%
REGN	C	-0.17%
AAPL	C	-0.17%
SPGI	A	-0.16%
UNP	C	-0.16%
UNH	C	-0.16%
HAL	F	-0.14%
MS	C	-0.14%
EFX	C	-0.13%
HAS	B	-0.13%
AON	B	-0.13%
XOM	D	-0.12%
TT	A	-0.12%
WELL	C	-0.12%
IFF	C	-0.12%
VTR	C	-0.12%
GOOGL	D	-0.12%
EMR	D	-0.12%
IPG	C	-0.12%
AFL	C	-0.12%
NSC	C	-0.12%
MCO	A	-0.12%
JNJ	C	-0.12%
CSX	D	-0.12%
MCD	B	-0.12%
BWA	D	-0.11%
MLM	D	-0.11%
CHD	C	-0.11%
DG	F	-0.11%
REG	C	-0.11%
RJF	C	-0.11%
MAS	B	-0.11%
FMC	C	-0.11%
SO	A	-0.11%
BABA	B	-0.11%
OTIS	C	-0.1%
VRSK	D	-0.1%
KIM	C	-0.1%
DHR	C	-0.1%
RPM	B	-0.1%
BHF	D	-0.1%
WTW	C	-0.1%
MSFT	C	-0.1%
MDLZ	C	-0.09%
EA	D	-0.09%
BIIB	F	-0.09%
JPM	D	-0.09%
HUM	F	-0.07%
ITW	C	-0.06%
SIGI	D	-0.06%
FTV	C	-0.05%
ALL	B	-0.04%