BNDC vs. OCIO ETF Comparison

Comparison of FlexShares Core Select Bond Fund (BNDC) to ClearShares OCIO ETF (OCIO)

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

24,545

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

OCIO

ClearShares OCIO ETF

OCIO Description

The investment seeks to outperform a traditional 60/40 mix of global equity and fixed-income investments. The fund is expected to typically invest approximately 40% to 70% of its total assets in underlying funds that principally invest in equity securities of any market capitalization. It is expected to typically invest approximately 20% to 50% of its total assets in underlying funds that principally invest in debt obligations.

Grade (RS Rating)

Last Trade

$31.27

Average Daily Volume

1,019

Number of Holdings ^*

14

* may have additional holdings in another (foreign) market

Performance

Period	BNDC	OCIO
30 Days	-2.54%	-2.52%
60 Days	-1.82%	-1.74%
90 Days	-2.21%	0.06%
12 Months	-2.21%	9.32%

3 Overlapping Holdings

	Symbol	Grade	Weight in BNDC	Weight in OCIO	Overlap
	IEF	F	0.99%	1.9%	0.99%
	IEI	F	20.92%	4.75%	4.75%
	SHY	C	0.89%	2.83%	0.89%

BNDC Overweight 6 Positions Relative to OCIO

	Symbol	Grade	Weight
	MBB	D	24.23%
	MBSD	C	12.56%
	SKOR	B	7.26%
	RAVI	A	5.52%
	TDTT	C	2.07%
	LKOR	D	0.49%

BNDC Underweight 11 Positions Relative to OCIO

	Symbol	Grade	Weight
	QQQ	C	-5.57%
	SPMO	C	-4.75%
	OPER	A	-4.48%
	FLOT	A	-3.52%
	GVI	C	-3.34%
	SCHF	B	-3.25%
	SCHK	B	-2.91%
	BIL	A	-2.62%
	VGIT	F	-1.42%
	IXUS	B	-1.01%
	SCHP	D	-0.83%

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

OCIO: Top Represented Industries & Keywords

Industries:

Keywords: ETF Exchange Traded Fund U.S. Treasury Bond Bloomberg Barclays Us Aggregate Bond Index Bond Market U.S. Government Index Fund Stock Market Index Bond Market Indices Exchange Traded Funds Government Bonds Fixed Income Merrill Lynch Yield Bear Market ETF Betashares Bond Fund Corporate Bond Debt