APIE vs. TLTD ETF Comparison

Comparison of Trust for Professional Managers ActivePassive International Equity ETF (APIE) to FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund (TLTD)

APIE

Trust for Professional Managers ActivePassive International Equity ETF

APIE Description

The fund is an actively-managed exchange-traded fund ("ETF") that blends active and passive investment strategies to optimize costs, tracking and potential return over the fund"s benchmark index, the S&P Classic ADR Composite Index. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of non-U.S. companies with varying market capitalizations.

Grade (RS Rating)

Last Trade

$28.80

Average Daily Volume

47,382

Number of Holdings ^*

212

* may have additional holdings in another (foreign) market

TLTD

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

TLTD Description

The investment seeks investment results that correspond generally to the price and yield performance of the MorningstarÂ® Developed Markets ex-US Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of 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 developed equities markets, excluding the U.S., with increased exposure to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$70.24

Average Daily Volume

8,881

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	APIE	TLTD
30 Days	-4.19%	-2.89%
60 Days	-3.36%	-4.79%
90 Days	-3.32%	-5.02%
12 Months	11.90%	12.46%

16 Overlapping Holdings

Symbol	Grade	Weight in APIE	Weight in TLTD	Overlap
ABBV	F	0.37%	0.25%	0.25%
BCS	A	0.81%	0.2%	0.2%
DEO	F	0.72%	0.18%	0.18%
DOOO	F	0.13%	0.12%	0.12%
E	F	0.31%	0.14%	0.14%
GOLD	C	0.05%	0.08%	0.05%
HMC	F	0.53%	0.17%	0.17%
LOGI	D	0.25%	0.04%	0.04%
LYG	D	0.44%	0.18%	0.18%
MFG	A	0.41%	0.24%	0.24%
MUFG	B	0.58%	0.41%	0.41%
NMR	B	0.3%	0.05%	0.05%
NVS	F	1.33%	0.58%	0.58%
SMFG	B	0.59%	0.27%	0.27%
TM	F	1.2%	0.84%	0.84%
UL	D	1.28%	0.41%	0.41%

APIE Overweight 196 Positions Relative to TLTD

Symbol	Grade	Weight
TSM	B	5.96%
SAP	B	1.98%
RELX	D	1.54%
NVO	F	1.45%
AZN	F	1.25%
ASML	F	1.22%
BABA	D	1.19%
HSBC	A	1.18%
HDB	C	0.96%
BTI	B	0.92%
TAK	D	0.79%
BHP	F	0.75%
SNY	F	0.72%
BP	D	0.69%
RIO	D	0.68%
IX	F	0.66%
GSK	F	0.66%
BUD	F	0.65%
TTE	F	0.6%
SAN	D	0.53%
INFY	C	0.53%
NGG	D	0.52%
IBN	C	0.51%
PDD	F	0.5%
BBVA	D	0.49%
ING	F	0.46%
PHG	C	0.46%
NWG	A	0.43%
IHG	A	0.39%
JD	D	0.38%
TEF	C	0.37%
MT	B	0.35%
ERIC	C	0.34%
AON	A	0.34%
PSO	B	0.33%
NOK	D	0.32%
ACN	B	0.31%
CHKP	C	0.31%
VOD	F	0.3%
HLN	C	0.29%
TCOM	B	0.29%
SKM	C	0.29%
SHG	C	0.28%
RDY	F	0.27%
SNN	D	0.26%
RTO	C	0.26%
KT	A	0.25%
VALE	F	0.23%
KB	B	0.22%
JHX	D	0.21%
GLPG	F	0.2%
FMS	A	0.19%
EQNR	C	0.19%
PBR	D	0.17%
ITUB	F	0.16%
ASX	D	0.16%
SE	A	0.15%
WPP	C	0.15%
WIT	B	0.14%
TEVA	C	0.14%
UMC	F	0.13%
ERJ	A	0.13%
ABEV	F	0.12%
CRTO	D	0.12%
NTES	D	0.12%
CUK	A	0.12%
WF	C	0.12%
FINV	B	0.11%
BBD	D	0.1%
ARGX	B	0.1%
ZTO	F	0.1%
BGNE	D	0.1%
SBS	B	0.09%
PKX	D	0.09%
NICE	D	0.08%
GRFS	C	0.08%
WDS	D	0.08%
TS	B	0.08%
SW	A	0.08%
FUTU	D	0.08%
CHT	C	0.08%
LI	F	0.08%
CIG	C	0.08%
GFI	D	0.07%
QFIN	A	0.07%
CIB	B	0.07%
CCU	D	0.06%
NNDM	D	0.06%
PAC	B	0.06%
AKO.A	F	0.06%
KOF	F	0.06%
ASR	D	0.06%
VIPS	F	0.06%
HMY	D	0.06%
YY	B	0.06%
BEKE	D	0.06%
BCH	C	0.06%
GGAL	B	0.05%
ARM	F	0.05%
MTLS	A	0.05%
SOHU	F	0.05%
XPEV	C	0.05%
PAM	A	0.05%
FMX	F	0.05%
CX	F	0.05%
BNTX	C	0.05%
GMAB	F	0.05%
AKO.A	F	0.05%
BIDU	F	0.05%
HTHT	D	0.04%
DRD	D	0.04%
YMM	C	0.04%
TKC	B	0.04%
OPRA	B	0.04%
BWAY	B	0.04%
TME	D	0.04%
STM	F	0.04%
PHI	D	0.04%
IMOS	F	0.04%
ATHM	C	0.03%
IMMP	F	0.03%
BLTE	B	0.03%
VLRS	B	0.03%
TLK	D	0.03%
CRESY	B	0.03%
BILI	D	0.03%
EBR	F	0.03%
YPF	B	0.03%
TX	F	0.03%
GGB	C	0.03%
OMAB	D	0.03%
VIST	B	0.03%
NIO	F	0.03%
DAVA	C	0.03%
MREO	F	0.02%
BMA	C	0.02%
ELP	F	0.02%
ZLAB	C	0.02%
GNFT	F	0.02%
LPL	D	0.02%
BZ	F	0.02%
ATAT	C	0.02%
ASAI	F	0.02%
UGP	F	0.02%
SUPV	B	0.02%
ASND	F	0.02%
HIMX	F	0.02%
GDS	C	0.02%
BRFS	C	0.02%
XYF	D	0.02%
SUZ	B	0.02%
MOMO	D	0.02%
MYTE	B	0.02%
TAL	F	0.02%
CANG	B	0.02%
ENIC	B	0.02%
EDAP	F	0.01%
JMIA	F	0.01%
YALA	D	0.01%
DOYU	C	0.01%
MNSO	D	0.01%
BZUN	F	0.01%
DAO	B	0.01%
CEPU	B	0.01%
HUYA	F	0.01%
CLLS	F	0.01%
JKS	F	0.01%
LEGN	D	0.01%
TV	F	0.01%
GRVY	C	0.01%
RERE	C	0.01%
OTLY	F	0.01%
JFIN	F	0.01%
TEO	B	0.01%
BVN	D	0.01%
IPHA	D	0.01%
SQM	D	0.01%
VIV	F	0.01%
ADAP	F	0.0%
EVO	C	0.0%
HCM	D	0.0%
SSL	F	0.0%
CNF	F	0.0%
ORAN	F	0.0%
HEPS	C	0.0%
IQ	F	0.0%
AZUL	F	0.0%
DADA	F	0.0%
RLX	C	0.0%
TOUR	D	0.0%
SIMO	D	0.0%
YRD	F	0.0%
DDL	C	0.0%
EH	D	0.0%
SBSW	D	0.0%
KC	B	0.0%

APIE Underweight 30 Positions Relative to TLTD

Symbol	Grade	Weight
HSBH	B	-0.68%
TD	D	-0.39%
SHOP	B	-0.38%
SONY	B	-0.32%
CNI	F	-0.17%
WCN	A	-0.14%
STLA	F	-0.12%
FLUT	A	-0.12%
PDS	C	-0.06%
RBA	A	-0.05%
BBUC	C	-0.04%
CCEP	C	-0.04%
AGCO	D	-0.03%
TAC	A	-0.03%
OTEX	F	-0.03%
QGEN	D	-0.03%
AEI	D	-0.02%
ECO	F	-0.02%
LSPD	C	-0.02%
WFG	C	-0.02%
DNN	B	-0.02%
FLNG	C	-0.01%
ELBM	D	-0.01%
MNTX	B	-0.01%
GOGL	F	-0.01%
ORLA	C	-0.01%
MBAVU	C	-0.01%
TIGO	D	-0.01%
RENB	F	-0.0%
TRMD	F	-0.0%