RAVI vs. IWL ETF Comparison

Comparison of FlexShares Ready Access Variable Income Fund (RAVI) to iShares Russell Top 200 ETF (IWL)

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

$75.44

Average Daily Volume

72,378

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

IWL

iShares Russell Top 200 ETF

IWL Description

The investment seeks to track the investment results of an index composed of large-capitalization U.S. equities. The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. It seeks to track the investment results of the Russell Top 200Â® Index (the "underlying index"), which is a float-adjusted, capitalization-weighted index that measures the performance of the largest capitalization sector of the U.S. equity market. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$145.86

Average Daily Volume

52,339

Number of Holdings ^*

197

* may have additional holdings in another (foreign) market

Performance

Period	RAVI	IWL
30 Days	0.41%	2.93%
60 Days	0.65%	4.56%
90 Days	1.23%	6.33%
12 Months	5.45%	33.26%

50 Overlapping Holdings

Symbol	Grade	Weight in RAVI	Weight in IWL	Overlap
ABBV	D	0.13%	0.7%	0.13%
AEP	D	0.38%	0.12%	0.12%
AIG	B	0.57%	0.12%	0.12%
AMT	D	0.13%	0.22%	0.13%
AMZN	C	0.42%	4.48%	0.42%
AON	A	0.46%	0.18%	0.18%
AZO	C	0.52%	0.13%	0.13%
BA	F	0.15%	0.23%	0.15%
BAC	A	0.57%	0.76%	0.57%
BDX	F	0.51%	0.16%	0.16%
BMY	B	0.43%	0.27%	0.27%
C	A	0.24%	0.31%	0.24%
CAT	B	0.26%	0.45%	0.26%
CI	F	0.67%	0.21%	0.21%
CMCSA	B	0.28%	0.39%	0.28%
COF	B	0.06%	0.17%	0.06%
CRM	B	0.4%	0.73%	0.4%
CVS	D	0.16%	0.16%	0.16%
CVX	A	0.33%	0.66%	0.33%
D	C	0.51%	0.11%	0.11%
DELL	C	0.28%	0.09%	0.09%
DHR	F	0.86%	0.35%	0.35%
DUK	C	0.07%	0.21%	0.07%
GE	D	0.76%	0.46%	0.46%
GILD	C	0.59%	0.26%	0.26%
GM	B	0.1%	0.15%	0.1%
GS	A	0.26%	0.45%	0.26%
ICE	C	0.15%	0.21%	0.15%
JPM	A	0.03%	1.67%	0.03%
KDP	D	0.95%	0.08%	0.08%
MDLZ	F	0.09%	0.21%	0.09%
MET	A	0.13%	0.12%	0.12%
MS	A	0.06%	0.37%	0.06%
NEE	D	0.57%	0.37%	0.37%
NVDA	C	0.52%	7.91%	0.52%
PCAR	B	0.05%	0.14%	0.05%
PSX	C	0.16%	0.13%	0.13%
PYPL	B	0.95%	0.21%	0.21%
ROP	B	0.07%	0.14%	0.07%
SBUX	A	0.18%	0.27%	0.18%
SCHW	B	0.42%	0.29%	0.29%
SO	D	0.26%	0.23%	0.23%
SYK	C	0.49%	0.34%	0.34%
T	A	0.3%	0.39%	0.3%
TFC	A	0.59%	0.15%	0.15%
UNH	C	0.43%	1.3%	0.43%
VLO	C	1.51%	0.11%	0.11%
VZ	C	0.1%	0.42%	0.1%
WFC	A	0.26%	0.62%	0.26%
WM	A	0.69%	0.21%	0.21%

RAVI Overweight 51 Positions Relative to IWL

Symbol	Grade	Weight
ED	D	1.05%
OGS	A	1.05%
OTIS	C	0.95%
LYB	F	0.83%
DTE	C	0.77%
TSN	B	0.7%
CM	A	0.62%
GP	F	0.59%
SJM	D	0.57%
BNS	A	0.52%
TD	F	0.51%
RY	A	0.51%
CCI	D	0.49%
VFC	C	0.39%
OGE	B	0.39%
ETR	B	0.38%
NDAQ	A	0.31%
ARCC	A	0.3%
HSBC	B	0.29%
CFG	B	0.29%
MLM	B	0.28%
DB	D	0.28%
CP	D	0.27%
CLX	B	0.26%
LEN	D	0.26%
ATHS	C	0.26%
AL	B	0.25%
CMS	C	0.24%
FIS	C	0.23%
MCHP	D	0.22%
FITB	A	0.22%
PPL	B	0.22%
FOXA	B	0.21%
NYC	D	0.21%
CNP	B	0.2%
LUV	C	0.18%
MKC	D	0.17%
AEE	A	0.17%
BHF	B	0.17%
KEY	B	0.16%
SEB	F	0.16%
UBS	C	0.16%
AZN	D	0.15%
NWG	C	0.15%
MUFG	B	0.14%
DHI	D	0.13%
CNH	C	0.13%
HPE	B	0.11%
EFX	F	0.1%
R	B	0.08%
HRL	D	0.07%

RAVI Underweight 147 Positions Relative to IWL

Symbol	Grade	Weight
AAPL	C	-7.79%
MSFT	F	-7.35%
META	D	-2.89%
GOOGL	C	-2.41%
TSLA	B	-2.12%
BRK.A	B	-2.05%
GOOG	C	-2.04%
AVGO	D	-1.78%
LLY	F	-1.42%
XOM	B	-1.27%
V	A	-1.16%
MA	C	-1.03%
COST	B	-0.96%
HD	A	-0.96%
PG	A	-0.95%
JNJ	D	-0.88%
WMT	A	-0.87%
NFLX	A	-0.84%
ORCL	B	-0.69%
MRK	F	-0.58%
KO	D	-0.57%
CSCO	B	-0.55%
ACN	C	-0.53%
ADBE	C	-0.53%
AMD	F	-0.52%
PEP	F	-0.52%
LIN	D	-0.51%
MCD	D	-0.5%
DIS	B	-0.5%
NOW	A	-0.49%
PM	B	-0.48%
ABT	B	-0.48%
TMO	F	-0.47%
INTU	C	-0.45%
IBM	C	-0.45%
TXN	C	-0.44%
ISRG	A	-0.44%
QCOM	F	-0.43%
BKNG	A	-0.4%
SPGI	C	-0.38%
RTX	C	-0.38%
AXP	A	-0.38%
LOW	D	-0.37%
BLK	C	-0.37%
PGR	A	-0.36%
AMGN	D	-0.36%
UBER	D	-0.35%
HON	B	-0.35%
ETN	A	-0.34%
UNP	C	-0.34%
AMAT	F	-0.33%
PFE	D	-0.33%
TJX	A	-0.32%
BX	A	-0.31%
COP	C	-0.31%
BSX	B	-0.3%
VRTX	F	-0.29%
FI	A	-0.29%
ADP	B	-0.29%
CB	C	-0.28%
PANW	C	-0.28%
MDT	D	-0.27%
TMUS	B	-0.27%
LMT	D	-0.27%
MMC	B	-0.26%
INTC	D	-0.25%
PLD	D	-0.25%
MU	D	-0.25%
DE	A	-0.24%
KKR	A	-0.24%
ADI	D	-0.24%
MO	A	-0.23%
ANET	C	-0.23%
UPS	C	-0.23%
LRCX	F	-0.22%
NKE	D	-0.22%
TT	A	-0.22%
ELV	F	-0.22%
SHW	A	-0.21%
PH	A	-0.21%
GEV	B	-0.21%
WELL	A	-0.2%
PNC	B	-0.2%
KLAC	D	-0.2%
APH	A	-0.2%
EQIX	A	-0.2%
APO	B	-0.2%
USB	A	-0.19%
GD	F	-0.19%
MCK	B	-0.19%
REGN	F	-0.19%
CDNS	B	-0.19%
SNPS	B	-0.19%
ZTS	D	-0.19%
CMG	B	-0.19%
ITW	B	-0.19%
MSI	B	-0.19%
CME	A	-0.19%
CTAS	B	-0.18%
MCO	B	-0.18%
MRVL	B	-0.18%
CL	D	-0.18%
CRWD	B	-0.18%
EOG	A	-0.18%
ORLY	B	-0.17%
CEG	D	-0.17%
TGT	F	-0.17%
APD	A	-0.17%
MMM	D	-0.17%
EMR	A	-0.17%
FDX	B	-0.16%
CRH	A	-0.16%
NOC	D	-0.16%
TDG	D	-0.16%
CSX	B	-0.16%
ECL	D	-0.15%
FCX	D	-0.15%
SLB	C	-0.15%
CARR	D	-0.15%
MAR	B	-0.15%
ADSK	A	-0.15%
HCA	F	-0.15%
ABNB	C	-0.14%
SRE	A	-0.14%
DASH	A	-0.14%
NSC	B	-0.14%
FTNT	C	-0.14%
TRV	B	-0.14%
PSA	D	-0.13%
WDAY	B	-0.13%
MPC	D	-0.13%
JCI	C	-0.13%
CPRT	A	-0.12%
KMB	D	-0.11%
NEM	D	-0.11%
EW	C	-0.1%
RSG	A	-0.1%
F	C	-0.1%
MNST	C	-0.09%
TEAM	A	-0.09%
STZ	D	-0.09%
LULU	C	-0.09%
SNOW	C	-0.09%
OXY	D	-0.08%
KHC	F	-0.07%
MRNA	F	-0.03%
EL	F	-0.03%