ASET vs. MLPB ETF Comparison

Comparison of FlexShares Real Assets Allocation Index Fund (ASET) to ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040 (MLPB)

ASET

FlexShares Real Assets Allocation Index Fund

ASET Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Real Assets Allocation IndexSM. Under normal circumstances, the fund will invest at least 80% of its total assets in the securities of the underlying index. The underlying index measures the performance of an optimized allocation to the underlying funds that is intended to provide exposures to certain real assets and minimize overall volatility of investment in the underlying funds. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$30.07

Average Daily Volume

11,043

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MLPB

ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040

MLPB Description

The ETRACS Alerian MLP Infrastructure Index ETN Series B is senior unsecured debt securities issued by UBS that provide exposure to potential price appreciation in the Alerian MLP Infrastructure Index. The index, comprised of 22 energy infrastructure master limited partnerships, is a subset of the Alerian MLP Index. The index refers to the master limited partnerships included in the Alerian MLP Infrastructure Index as the “index constituents.” It constituents earn the majority of their cash flow from the transportation, storage, and processing of energy commodities. The index is intended to provide diversified exposure specifically to infrastructure investment.

Grade (RS Rating)

Last Trade

$23.49

Average Daily Volume

20,903

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ASET	MLPB
30 Days	-1.97%	-1.77%
60 Days	0.52%	3.75%
90 Days	0.86%	11.12%
12 Months	-0.54%	30.77%

0 Overlapping Holdings

	Symbol	Grade	Weight in ASET	Weight in MLPB	Overlap

ASET Overweight 3 Positions Relative to MLPB

Symbol	Grade	Weight
NFRA	C	50.36%
GUNR	A	32.15%
GQRE	C	17.42%

ASET Underweight 9 Positions Relative to MLPB

Symbol	Grade	Weight
MPLX	A	-10.54%
WES	A	-10.08%
PAA	A	-10.02%
EPD	A	-9.91%
ET	A	-9.16%
ENLC	A	-5.63%
CQP	D	-4.59%
NS	C	-3.6%
GEL	A	-2.91%

ASET: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Index Fund American Depositary Receipt Banking Global Depository Receipt Investment Trust Natural Resources Northern Trust Real Estate Investment Trust Stoxx

MLPB: Top Represented Industries & Keywords

Industries: Oil & Gas Midstream Oil & Gas Pipelines