CMDT vs. BNDC ETF Comparison

Comparison of PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) to FlexShares Core Select Bond Fund (BNDC)

CMDT

PIMCO Commodity Strategy Active Exchange-Traded Fund

CMDT Description

CMDT aims for total return in excess of a diversified commodity benchmark by actively managing both commodity exposure and the funds collateral. The fund primarily gains exposure through commodity swaps and futures but may also directly invest in commodities and use other commodity-linked derivatives. The fund adviser determines target allocations using proprietary quantitative models that incorporate multi-factors such as historic performance trends and storage costs. Positions established may be long, short, or no positions in the specific commodities suggested by the models. Weighting is at the discretion of the fund adviser. The fund also holds a short-duration of investment grade fixed-income securities to serve as collateral. CMDT obtains its exposure via a Cayman Islands subsidiary, thus avoiding a K-1 form to investors. The fund has a longer investment horizon, not short-term, tactical trading. Investments and returns may be different from the advisers other funds

Grade (RS Rating)

Last Trade

$26.01

Average Daily Volume

48,337

Number of Holdings ^*

1

* may have additional holdings in another (foreign) market

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

$21.99

Average Daily Volume

23,876

Number of Holdings ^*

9

* may have additional holdings in another (foreign) market

Performance

Period	CMDT	BNDC
30 Days	-0.58%	-0.93%
60 Days	0.96%	-3.57%
90 Days	4.05%	-2.24%
12 Months	0.21%	4.82%

0 Overlapping Holdings

	Symbol	Grade	Weight in CMDT	Weight in BNDC	Overlap

CMDT Overweight 1 Positions Relative to BNDC

	Symbol	Grade	Weight
	MINT	A	5.05%

CMDT Underweight 9 Positions Relative to BNDC

	Symbol	Grade	Weight
	MBB	D	-24.3%
	MBSD	C	-12.49%
	IEI	D	-11.93%
	SKOR	C	-9.44%
	IEF	F	-5.68%
	RAVI	A	-4.72%
	SHY	C	-3.37%
	TDTT	C	-2.04%
	LKOR	D	-0.5%

CMDT: Top Represented Industries & Keywords

Industries:

Keywords: Asset And Liability Management Bond Bond Fund Bond Market Debt Securities ETF Exchange Traded Fund Fixed Income Interest Rate PIMCO

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