ESG vs. KEAT ETF Comparison

Comparison of FlexShares STOXX US ESG Impact Index Fund (ESG) to Keating Active ETF (KEAT)

ESG

FlexShares STOXX US ESG Impact Index Fund

ESG Description

The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the STOXX US ESG Impact Index.

Grade (RS Rating)

Last Trade

$140.22

Average Daily Volume

4,414

Number of Holdings ^*

259

* may have additional holdings in another (foreign) market

KEAT

Keating Active ETF

KEAT Description

KEAT actively invests in equity securities of all-cap companies considered undervalued based on the subadvisor's fundamental research. These securities include common stock, preferred stock, REITs, ADRs, and GDRs. The fund also considers and invests in international ETFs in the same manner it selects its individual securities. The sub-adviser initially identifies potential investment opportunities through public disclosures, and assesses their financial condition based on sustainable earnings and future cash flows through financial and strategic analyses. The portfolio will typically be comprised of 25 to 40 securities, all selected to offer exceptional value and have defensible positions. The fund also emphasizes companies with good shareholder yield. It intends to hold its positions for a year or more and sells them when it reaches its fair value or has become overvalued. KEAT may also hold short-term Treasurys in seeking total return.

Grade (RS Rating)

Last Trade

$26.89

Average Daily Volume

2,382

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	ESG	KEAT
30 Days	3.59%	0.99%
60 Days	3.59%	0.14%
90 Days	6.22%	1.23%
12 Months	27.36%

9 Overlapping Holdings

Symbol	Grade	Weight in ESG	Weight in KEAT	Overlap
AFL	B	0.23%	1.54%	0.23%
BRK.A	B	3.02%	0.79%	0.79%
DOV	A	0.05%	0.81%	0.05%
INTC	D	0.53%	0.57%	0.53%
JNJ	D	1.79%	1.6%	1.6%
TGT	F	0.29%	0.57%	0.29%
VZ	C	0.28%	3.26%	0.28%
WY	D	0.11%	1.16%	0.11%
XOM	B	2.63%	1.28%	1.28%

ESG Overweight 250 Positions Relative to KEAT

Symbol	Grade	Weight
AMZN	C	5.34%
META	D	5.19%
AAPL	C	4.84%
MSFT	F	4.72%
JPM	A	3.38%
TSLA	B	2.83%
LLY	F	2.2%
V	A	2.11%
AVGO	D	1.95%
PG	A	1.94%
WMT	A	1.82%
CVX	A	1.36%
KO	D	1.2%
ACN	C	1.12%
MA	C	1.06%
BAC	A	1.03%
MRK	F	1.02%
COST	B	1.01%
HD	A	0.99%
CSCO	B	0.96%
IBM	C	0.95%
GS	A	0.92%
UNH	C	0.91%
DIS	B	0.81%
ADBE	C	0.76%
AMD	F	0.74%
ORCL	B	0.74%
BLK	C	0.72%
TJX	A	0.67%
ABT	B	0.66%
SPGI	C	0.65%
C	A	0.64%
TXN	C	0.62%
QCOM	F	0.6%
UNP	C	0.58%
SYK	C	0.56%
BKNG	A	0.55%
MU	D	0.54%
CRM	B	0.53%
LOW	D	0.51%
AMAT	F	0.5%
ADP	B	0.5%
UBER	D	0.49%
INTU	C	0.48%
ICE	C	0.44%
DE	A	0.44%
VRTX	F	0.4%
ELV	F	0.39%
USB	A	0.39%
BMY	B	0.39%
TT	A	0.38%
CTAS	B	0.37%
AMT	D	0.37%
NOW	A	0.36%
MDLZ	F	0.36%
PFE	D	0.36%
MDT	D	0.36%
APO	B	0.35%
MCD	D	0.35%
ADSK	A	0.33%
ZTS	D	0.32%
WELL	A	0.32%
PANW	C	0.32%
GM	B	0.32%
CL	D	0.31%
SLB	C	0.31%
CAT	B	0.31%
CI	F	0.3%
PYPL	B	0.29%
GILD	C	0.28%
CVS	D	0.28%
MAR	B	0.28%
MMC	B	0.27%
CMG	B	0.27%
AON	A	0.27%
CRWD	B	0.26%
MS	A	0.26%
MCK	B	0.26%
CB	C	0.26%
HLT	A	0.25%
TRV	B	0.24%
LRCX	F	0.24%
FLUT	A	0.23%
NXPI	D	0.23%
BK	A	0.23%
FDX	B	0.22%
KMB	D	0.22%
NKE	D	0.22%
TFC	A	0.21%
SNPS	B	0.21%
BSX	B	0.21%
DUK	C	0.21%
KR	B	0.2%
ROST	C	0.2%
MET	A	0.2%
CBRE	B	0.2%
AEP	D	0.2%
SBUX	A	0.19%
LULU	C	0.19%
NEM	D	0.19%
GIS	D	0.18%
CEG	D	0.18%
DFS	B	0.18%
VICI	C	0.17%
CMI	A	0.17%
GWW	B	0.17%
IT	C	0.17%
ECL	D	0.17%
HPQ	B	0.17%
GEHC	F	0.17%
OTIS	C	0.16%
AJG	B	0.16%
SHW	A	0.15%
KLAC	D	0.15%
WTW	B	0.15%
FCX	D	0.15%
HIG	B	0.14%
PEG	A	0.14%
HUBS	A	0.14%
SRE	A	0.14%
MCO	B	0.13%
EA	A	0.13%
EW	C	0.13%
AWK	D	0.13%
EIX	B	0.13%
IRM	D	0.13%
CDNS	B	0.13%
VRSK	A	0.13%
ROK	B	0.13%
ITW	B	0.13%
NDAQ	A	0.13%
WM	A	0.13%
HPE	B	0.12%
IQV	D	0.12%
DD	D	0.12%
EMR	A	0.12%
TSCO	D	0.12%
YUM	B	0.12%
MSCI	C	0.12%
WDC	D	0.11%
VLO	C	0.11%
BDX	F	0.11%
DECK	A	0.11%
CLX	B	0.1%
XYL	D	0.1%
OMC	C	0.1%
FDS	B	0.1%
EBAY	D	0.1%
DOW	F	0.1%
BKR	B	0.1%
CTSH	B	0.1%
HSY	F	0.1%
FTV	C	0.1%
WAB	B	0.09%
BR	A	0.09%
PSA	D	0.09%
BBY	D	0.09%
LII	A	0.09%
AZO	C	0.09%
KHC	F	0.09%
K	A	0.09%
CAH	B	0.09%
DOC	D	0.08%
ETR	B	0.08%
D	C	0.08%
LNG	B	0.08%
FITB	A	0.08%
NU	C	0.08%
CCEP	C	0.08%
NTAP	C	0.08%
PFG	D	0.08%
WSM	B	0.08%
AIG	B	0.08%
ADM	D	0.08%
CCL	B	0.08%
ALL	A	0.08%
RSG	A	0.07%
VTR	C	0.07%
ZBRA	B	0.07%
EXPE	B	0.07%
STZ	D	0.07%
GEN	B	0.07%
XPO	B	0.07%
BALL	D	0.07%
PNR	A	0.07%
STT	A	0.07%
NVT	B	0.06%
HOLX	D	0.06%
IPG	D	0.06%
MKC	D	0.06%
GLW	B	0.06%
A	D	0.06%
IDXX	F	0.06%
ESS	B	0.06%
RF	A	0.06%
ACM	A	0.06%
KDP	D	0.06%
CTVA	C	0.06%
HBAN	A	0.06%
EL	F	0.06%
XEL	A	0.06%
KEY	B	0.05%
BURL	A	0.05%
SMCI	F	0.05%
FANG	D	0.05%
CMS	C	0.05%
DOX	D	0.05%
MRO	B	0.05%
SUI	D	0.05%
RPRX	D	0.05%
ARE	D	0.05%
LNT	A	0.05%
ED	D	0.05%
MRNA	F	0.04%
APTV	D	0.04%
DLTR	F	0.04%
SWK	D	0.04%
DPZ	C	0.04%
WST	C	0.04%
IEX	B	0.04%
BAX	D	0.04%
NI	A	0.04%
LVS	C	0.04%
ZBH	C	0.04%
AES	F	0.04%
SNAP	C	0.04%
PPL	B	0.04%
NDSN	B	0.04%
NRG	B	0.04%
OC	A	0.03%
CAG	D	0.03%
LECO	B	0.03%
BG	F	0.03%
STX	D	0.03%
TSN	B	0.03%
EXPD	D	0.03%
MAS	D	0.03%
AKAM	D	0.03%
JBL	B	0.03%
OKTA	C	0.02%
HST	C	0.02%
SJM	D	0.02%
DKS	C	0.02%
LKQ	D	0.02%
FFIV	B	0.02%
TFX	F	0.02%
RNR	C	0.02%
AVTR	F	0.02%
PSTG	D	0.02%
DG	F	0.02%

ESG Underweight 18 Positions Relative to KEAT

Symbol	Grade	Weight
STIP	C	-28.19%
OII	B	-3.84%
GOLD	D	-3.73%
CALM	A	-3.56%
EQC	B	-3.54%
PM	B	-3.36%
TAP	C	-3.31%
EQNR	D	-3.23%
LMT	D	-3.16%
VOD	F	-3.14%
TALO	C	-2.99%
UL	D	-2.98%
TTE	F	-2.85%
LW	C	-2.42%
TMO	F	-1.2%
PEP	F	-0.9%
UPS	C	-0.84%
AXP	A	-0.51%