RAVI vs. FUTY ETF Comparison

Comparison of FlexShares Ready Access Variable Income Fund (RAVI) to Fidelity MSCI Utilities Index ETF (FUTY)

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.35

Average Daily Volume

56,078

Number of Holdings ^*

102

* may have additional holdings in another (foreign) market

FUTY

Fidelity MSCI Utilities Index ETF

FUTY Description

The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Utilities Index. Investing at least 80% of assets in securities included in the fund's underlying index. The fund's underlying index is the MSCI USA IMI Utilities Index, which represents the performance of the utilities sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Utilities Index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$46.60

Average Daily Volume

143,207

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	RAVI	FUTY
30 Days	0.49%	10.51%
60 Days	0.88%	13.08%
90 Days	1.35%	19.12%
12 Months	5.48%	12.88%

14 Overlapping Holdings

Symbol	Grade	Weight in RAVI	Weight in FUTY	Overlap
AEE	B	0.17%	1.64%	0.17%
AEP	A	0.38%	4.0%	0.38%
CMS	A	0.24%	1.52%	0.24%
CNP	B	0.2%	1.55%	0.2%
D	A	0.51%	3.69%	0.51%
DTE	A	0.77%	1.98%	0.77%
DUK	A	0.07%	6.59%	0.07%
ED	A	1.05%	2.77%	1.05%
ETR	A	0.38%	1.97%	0.38%
NEE	B	0.57%	13.08%	0.57%
OGE	A	0.39%	0.61%	0.39%
OGS	C	1.05%	0.29%	0.29%
PPL	A	0.22%	1.8%	0.22%
SO	A	0.26%	7.16%	0.26%

RAVI Overweight 88 Positions Relative to FUTY

Symbol	Grade	Weight
VLO	D	1.51%
OTIS	C	0.95%
PYPL	C	0.95%
KDP	A	0.95%
PXD	B	0.89%
DHR	B	0.86%
LYB	C	0.83%
GE	C	0.76%
TSN	C	0.7%
WM	A	0.69%
CI	D	0.67%
CM	C	0.62%
GP	F	0.59%
GILD	F	0.59%
TFC	A	0.59%
AIG	A	0.57%
SJM	D	0.57%
BAC	A	0.57%
AZO	D	0.52%
NVDA	B	0.52%
BNS	D	0.52%
BDX	F	0.51%
TD	F	0.51%
RY	A	0.51%
SYK	D	0.49%
CCI	D	0.49%
AON	D	0.46%
UNH	B	0.43%
BMY	F	0.43%
AMZN	B	0.42%
SCHW	A	0.42%
CRM	D	0.4%
VFC	F	0.39%
CVX	A	0.33%
NDAQ	C	0.31%
ARCC	A	0.3%
T	B	0.3%
HSBC	C	0.29%
CFG	A	0.29%
MLM	C	0.28%
DELL	B	0.28%
CMCSA	D	0.28%
DB	B	0.28%
CP	D	0.27%
WFC	A	0.26%
CAT	C	0.26%
CLX	D	0.26%
LEN	C	0.26%
ATHS	C	0.26%
GS	A	0.26%
AL	C	0.25%
C	A	0.24%
FIS	A	0.23%
MCHP	C	0.22%
FITB	A	0.22%
FOXA	B	0.21%
NYC	B	0.21%
SBUX	F	0.18%
LUV	D	0.18%
MKC	B	0.17%
BHF	F	0.17%
CVS	F	0.16%
KEY	B	0.16%
SEB	D	0.16%
UBS	C	0.16%
PSX	D	0.16%
AZN	A	0.15%
NWG	A	0.15%
BA	F	0.15%
ICE	D	0.15%
MUFG	C	0.14%
MET	B	0.13%
DHI	D	0.13%
AMT	D	0.13%
CNHI	D	0.13%
ABBV	D	0.13%
HPE	D	0.11%
EFX	D	0.1%
GM	B	0.1%
VZ	C	0.1%
MDLZ	B	0.09%
R	A	0.08%
HRL	B	0.07%
ROP	D	0.07%
COF	B	0.06%
MS	A	0.06%
PCAR	D	0.05%
JPM	A	0.03%

RAVI Underweight 53 Positions Relative to FUTY

Symbol	Grade	Weight
CEG	B	-5.9%
SRE	A	-4.06%
EXC	B	-3.19%
PEG	A	-3.07%
PCG	B	-3.07%
VST	B	-2.72%
XEL	C	-2.55%
EIX	A	-2.4%
WEC	B	-2.22%
AWK	B	-2.15%
FE	A	-1.82%
ES	B	-1.75%
NRG	A	-1.58%
ATO	C	-1.47%
AES	B	-1.17%
LNT	B	-1.1%
NI	A	-1.08%
EVRG	B	-1.06%
WTRG	B	-0.85%
PNW	B	-0.73%
UGI	C	-0.43%
NFG	A	-0.41%
IDA	B	-0.41%
POR	B	-0.37%
NJR	B	-0.36%
SWX	A	-0.36%
ORA	B	-0.33%
BKH	B	-0.32%
ALE	B	-0.3%
OTTR	B	-0.29%
SR	B	-0.27%
PNM	C	-0.26%
NEP	C	-0.26%
NWE	B	-0.26%
CWT	B	-0.25%
AVA	B	-0.25%
AWR	B	-0.24%
MGEE	A	-0.24%
CPK	B	-0.2%
CWEN	B	-0.19%
SJW	C	-0.15%
NWN	B	-0.12%
HE	F	-0.1%
MSEX	C	-0.08%
CWEN	B	-0.07%
UTL	B	-0.07%
YORW	B	-0.05%
NOVA	F	-0.04%
SGU	C	-0.03%
ARTNA	B	-0.03%
MNTK	D	-0.02%
AMPS	F	-0.02%
GNE	F	-0.02%