AVSE vs. QLVE ETF Comparison

Comparison of Avantis Responsible Emerging Markets Equity ETF (AVSE) to FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE)

AVSE

Avantis Responsible Emerging Markets Equity ETF

AVSE Description

The investment seeks long-term capital appreciation. The fund invests primarily in a diverse group of companies related to emerging markets across market sectors, industry groups and countries. The fund may invest in companies of all market capitalizations. The portfolio management team limits its investable universe of companies by screening out those that raise concerns based on the team?s evaluation of multiple ESG metrics.

Grade (RS Rating)

Last Trade

$52.27

Average Daily Volume

3,334

Number of Holdings ^*

* may have additional holdings in another (foreign) market

QLVE

FlexShares Emerging Markets Quality Low Volatility Index Fund

QLVE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Emerging Markets Quality Low Volatility IndexSM. The underlying index is designed to reflect the performance of a selection of companies that, in aggregate, possess lower overall absolute volatility characteristics relative to a broad universe of securities domiciled in emerging market countries. Under normal circumstances, the fund will invest 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. It is non-diversified.

Grade (RS Rating)

Last Trade

$25.66

Average Daily Volume

1,225

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AVSE	QLVE
30 Days	-4.16%	-4.07%
60 Days	-1.36%	-3.07%
90 Days	-1.56%	-1.52%
12 Months	15.31%	14.89%

12 Overlapping Holdings

Symbol	Grade	Weight in AVSE	Weight in QLVE	Overlap
BABA	D	1.8%	2.53%	1.8%
BAP	A	0.18%	1.02%	0.18%
BIDU	F	0.05%	0.04%	0.04%
CHT	C	0.06%	0.94%	0.06%
HDB	C	0.56%	0.45%	0.45%
IBN	C	0.48%	0.68%	0.48%
KT	A	0.05%	0.52%	0.05%
NTES	D	0.51%	0.45%	0.45%
PDD	F	0.71%	0.71%	0.71%
SKM	C	0.07%	0.77%	0.07%
TCOM	B	0.27%	0.02%	0.02%
UMC	F	0.24%	0.16%	0.16%

AVSE Overweight 77 Positions Relative to QLVE

Symbol	Grade	Weight
TSM	B	5.9%
INFY	C	0.76%
KB	B	0.48%
YUMC	C	0.41%
SHG	C	0.38%
ITUB	F	0.34%
LI	F	0.29%
CPNG	D	0.28%
HTHT	D	0.25%
VIPS	F	0.23%
ASX	D	0.22%
ZTO	F	0.2%
BEKE	D	0.17%
GFI	D	0.17%
BBD	D	0.16%
PAC	B	0.16%
SUZ	B	0.14%
TLK	D	0.13%
STNE	F	0.13%
CIG	C	0.12%
SBS	B	0.11%
FMX	F	0.1%
QFIN	A	0.09%
LPL	D	0.09%
OMAB	D	0.09%
RDY	F	0.09%
EBR	F	0.08%
ABEV	F	0.08%
ASAI	F	0.08%
TME	D	0.08%
CAR	C	0.08%
BCH	C	0.08%
WIT	B	0.07%
SBSW	D	0.07%
ASR	D	0.07%
VIV	F	0.06%
ATHM	C	0.06%
TKC	B	0.06%
MNSO	D	0.06%
IQ	F	0.06%
BGNE	D	0.05%
SCCO	F	0.05%
TV	F	0.05%
CIB	B	0.04%
SGRP	D	0.04%
PAGS	F	0.04%
ASAI	F	0.04%
IFS	A	0.04%
MOMO	D	0.04%
AKO.A	F	0.04%
BSAC	C	0.04%
ELP	F	0.04%
YY	B	0.04%
LX	B	0.03%
NOAH	D	0.03%
SOHU	F	0.03%
IMOS	F	0.03%
PHI	D	0.03%
SQM	D	0.03%
BGNE	D	0.03%
VNET	B	0.02%
BSBR	F	0.02%
CCU	D	0.02%
NIO	F	0.02%
WB	D	0.02%
PDSB	F	0.01%
XPEV	C	0.01%
BZ	F	0.01%
NIU	F	0.0%
DAO	B	0.0%
TIGR	D	0.0%
BILI	D	0.0%
TUYA	D	0.0%
CANG	B	0.0%
API	B	0.0%
TAL	F	0.0%
CAAS	C	0.0%

AVSE Underweight 1 Positions Relative to QLVE

	Symbol	Grade	Weight
	VALE	F	-0.17%