BNDC vs. ADFI ETF Comparison

Comparison of FlexShares Core Select Bond Fund (BNDC) to Anfield Dynamic Fixed Income ETF (ADFI)

BNDC

FlexShares Core Select Bond Fund

BNDC Description

The investment seeks total return and preservation of capital. The fund invests at least 80% of its net assets in U.S. dollar-denominated investment-grade fixed-income securities either directly or indirectly through exchange-traded funds and other registered investment companies. The fund may invest, without limitation, in mortgage- or asset-backed securities, including to-be-announced transactions, and purchase and sell securities on a when-issued, delayed delivery or forward commitment basis.

Grade (RS Rating)

Last Trade

$21.48

Average Daily Volume

22,465

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

ADFI

Anfield Dynamic Fixed Income ETF

ADFI Description

The investment seeks to provide total return with capital preservation as a secondary objective. The fund is an actively managed ETF that is a fund of funds, meaning that it primarily invests its assets in securities of other ETFs. It normally invests at least 80% of its net assets, including any borrowings for investment purposes, in other unaffiliated ETFs that invest in any facet of the global debt markets, including corporate bonds, U.S. government and agency securities, private debt, foreign sovereign bonds, convertible securities, bank loans, asset-backed securities, mortgage-backed securities, and cash equivalent instruments.

Grade (RS Rating)

Last Trade

$8.34

Average Daily Volume

22,036

Number of Holdings ^*

6

* may have additional holdings in another (foreign) market

Performance

Period	BNDC	ADFI
30 Days	-1.66%	-1.89%
60 Days	-1.28%	-2.00%
90 Days	-1.89%	-1.66%
12 Months	-1.06%	0.64%

1 Overlapping Holdings

	Symbol	Grade	Weight in BNDC	Weight in ADFI	Overlap
	MBB	D	24.14%	17.56%	17.56%

BNDC Overweight 8 Positions Relative to ADFI

	Symbol	Grade	Weight
	IEI	D	20.81%
	MBSD	C	12.48%
	SKOR	B	7.23%
	RAVI	A	5.49%
	TDTT	B	2.06%
	IEF	F	0.99%
	SHY	C	0.89%
	LKOR	C	0.49%

BNDC Underweight 5 Positions Relative to ADFI

	Symbol	Grade	Weight
	GOVT	F	-22.61%
	PHB	C	-19.99%
	JAAA	A	-11.4%
	ICVT	C	-3.32%
	FTSL	A	-0.1%

BNDC: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Bond Market U.S. Treasury Bloomberg Barclays Us Aggregate Bond Index Bond Fund Government Bonds U.S. Government Yield Collateralized Debt Obligation Corporate Bond Mortgage Backed Security Northern Trust Structured Finance Credit Rating Agencies Debt Securities Fannie Mae Federal Home Loan Mortgage Corporation Federal National Mortgage Association

ADFI: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund Bond Index Fund Mortgage Backed Security Structured Finance Asset Backed Security Bank Loans Barclays Bloomberg Barclays Us Aggregate Bond Index Bond Market Index Collateralized Debt Obligation Collateralized Loan Obligation Convertibles Corporate Bond Debt Securities Equity Derivative Fannie Mae Federal Home Loan Mortgage Corporation Federal National Mortgage Association