SSPY vs. SKOR ETF Comparison

Comparison of Syntax Stratified LargeCap ETF (SSPY) to FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR)

SSPY

Syntax Stratified LargeCap ETF

SSPY Description

The investment seeks to provide investment results that, before expenses, correspond generally to the total return performance of publicly traded equity securities of companies in the Syntax Stratified LargeCap Index (the "index"). Under normal market conditions, the fund generally invests substantially all, and at least 95% of its total assets in the securities comprising the index. The index, which was created by Syntax, LLC, an affiliate of the fund's investment adviser, is the stratified-weight version of the widely used S&P 500® Index and holds the same constituents as the S&P 500.

Grade (RS Rating)

Last Trade

$79.03

Average Daily Volume

2,808

Number of Holdings ^*

496

* may have additional holdings in another (foreign) market

SKOR

FlexShares Credit-Scored US Corporate Bond Index Fund

SKOR Description

The investment seeks the price and yield performance, before fees and expenses, of the Northern Trust Credit-Scored US Corporate Bond IndexSM. The fund generally will invest at least 80% of its total assets in the securities of its underlying index. The index reflects the performance of a portfolio of US-dollar denominated bonds of companies that are considered by the index Provider to have higher credit quality, lower risk of default and the potential for higher yield, price appreciation and liquidity relative to the universe of securities comprising the Northern Trust US Investment-Grade Corporate Bond IndexSM. The fund is non-diversified

Grade (RS Rating)

Last Trade

$49.19

Average Daily Volume

45,796

Number of Holdings ^*

305

* may have additional holdings in another (foreign) market

Performance

Period	SSPY	SKOR
30 Days	0.32%	1.23%
60 Days	2.18%	2.85%
90 Days	5.28%	4.47%
12 Months	22.69%	10.86%

228 Overlapping Holdings

Symbol	Grade	Weight in SSPY	Weight in SKOR	Overlap
A	C	0.15%	0.07%	0.07%
AAPL	C	0.52%	0.09%	0.09%
ABBV	B	0.25%	0.08%	0.08%
ADBE	F	0.17%	0.09%	0.09%
ADI	C	0.23%	0.15%	0.15%
ADP	C	0.22%	0.07%	0.07%
ADSK	B	0.17%	0.08%	0.08%
AEE	B	0.08%	0.25%	0.08%
AEP	C	0.25%	0.02%	0.02%
AFL	A	0.2%	0.04%	0.04%
AIG	D	0.2%	0.04%	0.04%
AIZ	B	0.21%	0.04%	0.04%
ALL	C	0.21%	0.15%	0.15%
ALLE	B	0.08%	0.07%	0.07%
AMCR	B	0.13%	0.12%	0.12%
AMGN	D	0.25%	0.11%	0.11%
AMP	B	0.09%	0.07%	0.07%
AMT	C	0.07%	0.13%	0.07%
AMZN	C	0.23%	0.11%	0.11%
AON	B	0.04%	0.09%	0.04%
APD	B	0.05%	0.19%	0.05%
APH	C	0.2%	0.11%	0.11%
ARE	C	0.11%	0.04%	0.04%
ATO	B	0.34%	0.17%	0.17%
AVB	C	0.11%	0.02%	0.02%
AVGO	C	0.24%	0.04%	0.04%
AVY	C	0.06%	0.02%	0.02%
AWK	C	0.33%	0.07%	0.07%
AXP	B	0.04%	0.07%	0.04%
AZO	B	0.14%	0.05%	0.05%
BA	F	0.17%	0.06%	0.06%
BAC	D	0.13%	0.0%	0.0%
BAX	C	0.05%	0.07%	0.05%
BDX	D	0.05%	0.08%	0.05%
BG	F	0.38%	0.08%	0.08%
BK	B	0.12%	0.05%	0.05%
BLK	B	0.09%	0.08%	0.08%
BMY	C	0.26%	0.1%	0.1%
BR	C	0.11%	0.08%	0.08%
BRO	C	0.04%	0.08%	0.04%
BWA	C	0.41%	0.13%	0.13%
BXP	C	0.12%	0.09%	0.09%
C	C	0.13%	0.08%	0.08%
CARR	B	0.08%	0.09%	0.08%
CB	B	0.15%	0.1%	0.1%
CBOE	C	0.04%	0.08%	0.04%
CCI	C	0.07%	0.18%	0.07%
CE	D	0.07%	0.07%	0.07%
CFG	D	0.06%	0.07%	0.06%
CHD	C	0.43%	0.18%	0.18%
CHTR	D	0.48%	0.2%	0.2%
CI	C	0.2%	0.14%	0.14%
CL	C	0.43%	0.09%	0.09%
CLX	C	0.43%	0.02%	0.02%
CMCSA	C	0.53%	0.14%	0.14%
CME	B	0.05%	0.12%	0.05%
CMI	B	0.08%	0.04%	0.04%
CMS	B	0.08%	0.08%	0.08%
CNP	C	0.26%	0.1%	0.1%
COF	B	0.72%	0.02%	0.02%
COST	C	0.74%	0.1%	0.1%
CPB	C	0.21%	0.06%	0.06%
CPT	C	0.11%	0.07%	0.07%
CSCO	B	0.21%	0.04%	0.04%
CSX	C	0.09%	0.04%	0.04%
CTAS	C	0.19%	0.02%	0.02%
CVS	D	0.68%	0.16%	0.16%
D	C	0.25%	0.08%	0.08%
DFS	C	0.7%	0.11%	0.11%
DG	F	0.17%	0.16%	0.16%
DGX	B	0.17%	0.07%	0.07%
DHI	C	0.25%	0.07%	0.07%
DHR	B	0.1%	0.09%	0.09%
DIS	D	0.21%	0.09%	0.09%
DLR	B	0.27%	0.1%	0.1%
DLTR	F	0.17%	0.05%	0.05%
DOV	B	0.17%	0.07%	0.07%
DOW	C	0.07%	0.17%	0.07%
DTE	A	0.25%	0.09%	0.09%
DUK	B	0.08%	0.08%	0.08%
EA	D	0.49%	0.04%	0.04%
EBAY	B	0.23%	0.08%	0.08%
ECL	B	0.05%	0.06%	0.05%
ED	B	0.25%	0.11%	0.11%
EFX	C	0.04%	0.05%	0.04%
EIX	B	0.25%	0.04%	0.04%
ELV	D	0.25%	0.18%	0.18%
EMR	D	0.03%	0.07%	0.03%
EQIX	B	0.28%	0.0%	0.0%
EQR	C	0.11%	0.02%	0.02%
ES	B	0.08%	0.04%	0.04%
ESS	C	0.11%	0.07%	0.07%
EW	F	0.06%	0.08%	0.06%
FITB	B	0.06%	0.09%	0.06%
FMC	B	0.09%	0.07%	0.07%
FOXA	B	0.11%	0.25%	0.11%
FTV	C	0.03%	0.04%	0.03%
GD	C	0.17%	0.14%	0.14%
GILD	B	0.26%	0.13%	0.13%
GIS	B	0.22%	0.08%	0.08%
GL	D	0.21%	0.06%	0.06%
GM	C	0.26%	0.2%	0.2%
GOOGL	D	0.23%	0.03%	0.03%
GPN	D	0.04%	0.17%	0.04%
GS	B	0.26%	0.1%	0.1%
HBAN	B	0.06%	0.08%	0.06%
HCA	B	0.34%	0.03%	0.03%
HD	B	0.27%	0.0%	0.0%
HII	F	0.08%	0.04%	0.04%
HON	C	0.17%	0.04%	0.04%
HPQ	C	0.36%	0.07%	0.07%
HST	D	0.12%	0.09%	0.09%
HUBB	B	0.26%	0.07%	0.07%
HUM	F	0.26%	0.12%	0.12%
IBM	B	0.35%	0.09%	0.09%
INTC	D	0.16%	0.12%	0.12%
INTU	D	0.22%	0.1%	0.1%
ITW	B	0.17%	0.07%	0.07%
JBHT	D	0.09%	0.12%	0.09%
JNJ	C	0.25%	0.18%	0.18%
JPM	D	0.13%	0.01%	0.01%
K	A	0.19%	0.11%	0.11%
KDP	B	0.25%	0.08%	0.08%
KEY	C	0.06%	0.08%	0.06%
KEYS	B	0.21%	0.08%	0.08%
KIM	C	0.07%	0.04%	0.04%
KLAC	D	0.18%	0.08%	0.08%
KMB	C	0.43%	0.08%	0.08%
KMI	C	0.27%	0.28%	0.27%
KO	B	0.25%	0.08%	0.08%
LEN	B	0.25%	0.32%	0.25%
LHX	C	0.09%	0.1%	0.09%
LMT	A	0.09%	0.23%	0.09%
LNT	A	0.08%	0.1%	0.08%
LOW	B	0.26%	0.04%	0.04%
MA	B	0.04%	0.04%	0.04%
MAA	C	0.11%	0.02%	0.02%
MAR	B	0.12%	0.04%	0.04%
MAS	B	0.2%	0.19%	0.19%
MCD	B	0.51%	0.04%	0.04%
MCK	F	0.19%	0.09%	0.09%
MCO	C	0.04%	0.07%	0.04%
MDLZ	C	0.19%	0.07%	0.07%
MET	B	0.21%	0.09%	0.09%
MKC	C	0.22%	0.07%	0.07%
MLM	D	0.18%	0.09%	0.09%
MMC	C	0.04%	0.01%	0.01%
MMM	B	0.17%	0.08%	0.08%
MO	C	0.37%	0.1%	0.1%
MS	B	0.26%	0.04%	0.04%
MSFT	C	0.34%	0.04%	0.04%
MSI	B	0.51%	0.04%	0.04%
MU	D	0.14%	0.08%	0.08%
NDAQ	C	0.05%	0.08%	0.05%
NEE	B	0.25%	0.04%	0.04%
NI	B	0.34%	0.19%	0.19%
NOC	B	0.09%	0.19%	0.09%
NSC	C	0.08%	0.07%	0.07%
NTAP	D	0.18%	0.07%	0.07%
NXPI	D	0.23%	0.21%	0.21%
O	B	0.07%	0.12%	0.07%
OKE	C	0.26%	0.14%	0.14%
ORCL	B	0.35%	0.11%	0.11%
ORLY	B	0.14%	0.08%	0.08%
OTIS	B	0.08%	0.07%	0.07%
PCG	C	0.08%	0.07%	0.07%
PEG	B	0.26%	0.07%	0.07%
PEP	D	0.18%	0.24%	0.18%
PG	C	0.43%	0.06%	0.06%
PGR	C	0.2%	0.04%	0.04%
PH	B	0.08%	0.02%	0.02%
PHM	B	0.26%	0.2%	0.2%
PKG	B	0.06%	0.07%	0.06%
PLD	C	0.07%	0.07%	0.07%
PM	C	0.37%	0.17%	0.17%
PNC	C	0.06%	0.03%	0.03%
PPG	C	0.07%	0.07%	0.07%
PRU	C	0.21%	0.0%	0.0%
PSA	C	0.11%	0.08%	0.08%
PYPL	B	0.06%	0.02%	0.02%
QCOM	D	0.22%	0.08%	0.08%
REG	C	0.07%	0.06%	0.06%
ROK	D	0.03%	0.06%	0.03%
ROP	C	0.03%	0.08%	0.03%
RSG	D	0.19%	0.04%	0.04%
SBUX	C	0.49%	0.09%	0.09%
SCHW	D	0.26%	0.04%	0.04%
SHW	B	0.07%	0.04%	0.04%
SJM	C	0.21%	0.04%	0.04%
SO	B	0.08%	0.1%	0.08%
SPG	B	0.07%	0.22%	0.07%
SPGI	C	0.04%	0.08%	0.04%
SRE	B	0.08%	0.07%	0.07%
STLD	C	0.28%	0.04%	0.04%
STT	B	0.12%	0.07%	0.07%
SWK	B	0.27%	0.11%	0.11%
SYF	C	0.69%	0.08%	0.08%
SYK	C	0.12%	0.03%	0.03%
T	B	0.34%	0.12%	0.12%
TDY	B	0.03%	0.14%	0.03%
TEL	D	0.19%	0.07%	0.07%
TFC	D	0.06%	0.06%	0.06%
TMO	B	0.14%	0.19%	0.14%
TMUS	B	0.33%	0.14%	0.14%
TPR	A	0.32%	0.19%	0.19%
TRMB	C	0.03%	0.1%	0.03%
TT	B	0.08%	0.08%	0.08%
TXN	B	0.23%	0.07%	0.07%
UNH	C	0.26%	0.02%	0.02%
UNP	D	0.08%	0.11%	0.08%
UPS	D	0.09%	0.08%	0.08%
USB	C	0.06%	0.07%	0.06%
V	C	0.04%	0.1%	0.04%
VLO	F	0.5%	0.08%	0.08%
VRSK	D	0.04%	0.1%	0.04%
VRSN	C	0.27%	0.19%	0.19%
VTR	C	0.11%	0.02%	0.02%
VZ	A	0.34%	0.03%	0.03%
WAB	B	0.14%	0.06%	0.06%
WEC	B	0.08%	0.17%	0.08%
WELL	C	0.11%	0.08%	0.08%
WFC	D	0.13%	0.07%	0.07%
WM	D	0.19%	0.13%	0.13%
WMT	B	0.76%	0.02%	0.02%
WTW	B	0.04%	0.06%	0.04%
WY	C	0.18%	0.1%	0.1%
XEL	B	0.08%	0.14%	0.08%
ZTS	B	0.26%	0.05%	0.05%

SSPY Overweight 268 Positions Relative to SKOR

Symbol	Grade	Weight
CVX	F	0.8%
XOM	D	0.8%
SYY	C	0.76%
KR	B	0.76%
TJX	C	0.75%
ROST	C	0.74%
WBA	F	0.63%
DPZ	D	0.54%
DRI	C	0.54%
BRK.A	C	0.52%
PSX	F	0.52%
CMG	D	0.52%
YUM	B	0.51%
TTWO	D	0.5%
MPC	F	0.5%
L	D	0.5%
META	B	0.49%
MTCH	C	0.48%
EL	D	0.47%
KVUE	B	0.43%
PWR	B	0.42%
J	A	0.4%
APTV	D	0.4%
VST	B	0.4%
CEG	C	0.39%
ADM	D	0.38%
BKR	C	0.37%
HRL	F	0.37%
TSN	D	0.37%
CRM	C	0.36%
JBL	C	0.36%
SLB	F	0.36%
HAL	F	0.36%
SNPS	F	0.35%
UHS	C	0.35%
NKE	D	0.34%
IPG	C	0.34%
OMC	B	0.34%
GRMN	D	0.34%
CDNS	D	0.34%
NRG	B	0.33%
RL	B	0.32%
AES	C	0.31%
LULU	D	0.3%
DECK	C	0.3%
EXC	B	0.3%
FCX	C	0.29%
NVR	B	0.28%
GDDY	C	0.28%
AKAM	D	0.28%
TSLA	C	0.28%
HAS	B	0.27%
NUE	D	0.27%
RJF	C	0.27%
TRGP	C	0.27%
CNC	D	0.27%
DAL	C	0.27%
ENPH	D	0.27%
UAL	B	0.27%
ETN	C	0.27%
CTLT	B	0.26%
PFE	D	0.26%
F	F	0.26%
WMB	C	0.26%
MOH	D	0.26%
ETR	A	0.26%
MNST	D	0.26%
LUV	C	0.26%
NEM	C	0.26%
FE	B	0.25%
VTRS	D	0.25%
MRK	F	0.25%
LLY	D	0.25%
BIIB	F	0.25%
TAP	D	0.25%
STZ	C	0.25%
INCY	C	0.25%
SNA	B	0.25%
MRNA	F	0.24%
VRTX	D	0.24%
NOW	C	0.24%
TYL	C	0.23%
MPWR	B	0.23%
DAY	D	0.23%
NFLX	B	0.23%
PAYC	D	0.23%
GOOG	D	0.23%
PLTR	C	0.23%
CPRT	D	0.23%
QRVO	F	0.22%
ANET	C	0.22%
FFIV	B	0.22%
SWKS	F	0.22%
CAG	B	0.22%
LW	D	0.22%
ON	D	0.22%
PAYX	C	0.22%
REGN	D	0.22%
KHC	C	0.21%
PFG	B	0.21%
ERIE	B	0.21%
CAH	C	0.2%
WBD	D	0.2%
BLDR	C	0.2%
PNR	B	0.2%
IEX	C	0.2%
PARA	D	0.2%
FSLR	C	0.2%
GLW	B	0.2%
AOS	B	0.2%
JNPR	A	0.2%
HSIC	C	0.2%
IR	B	0.2%
HPE	C	0.19%
CRWD	D	0.19%
BBWI	D	0.19%
GEV	B	0.19%
MHK	B	0.19%
ROL	C	0.19%
XYL	C	0.19%
DVN	F	0.18%
STX	B	0.18%
CTRA	F	0.18%
AMAT	D	0.18%
VMC	C	0.18%
ULTA	D	0.18%
GE	C	0.18%
EQT	C	0.18%
HSY	D	0.18%
TXT	D	0.17%
PANW	D	0.17%
TER	C	0.17%
LRCX	D	0.17%
BBY	A	0.17%
SMCI	F	0.17%
WDC	C	0.17%
DELL	C	0.17%
TGT	C	0.17%
ANSS	D	0.17%
PTC	C	0.17%
FTNT	B	0.17%
TRV	C	0.15%
CINF	C	0.15%
HIG	B	0.15%
ACGL	B	0.15%
CRL	F	0.15%
KMX	D	0.15%
LKQ	F	0.15%
TECH	C	0.15%
WAT	B	0.15%
MTD	C	0.15%
GPC	D	0.15%
ZBRA	B	0.14%
NVDA	C	0.14%
IT	C	0.14%
LDOS	A	0.14%
CAT	B	0.14%
WRB	D	0.14%
AMD	C	0.14%
URI	B	0.14%
IQV	D	0.14%
EG	B	0.14%
ISRG	C	0.13%
ABNB	D	0.13%
ZBH	F	0.13%
BALL	C	0.13%
CDW	D	0.13%
AME	C	0.13%
FAST	C	0.13%
ACN	C	0.13%
GWW	B	0.13%
PCAR	D	0.13%
DE	A	0.13%
POOL	C	0.13%
CTSH	B	0.13%
MCHP	D	0.13%
EPAM	F	0.13%
HLT	B	0.12%
BKNG	B	0.12%
UBER	C	0.12%
STE	B	0.12%
EXPE	C	0.12%
TSCO	B	0.12%
FOX	B	0.11%
GEHC	B	0.11%
INVH	D	0.11%
UDR	C	0.11%
DVA	B	0.11%
DOC	B	0.11%
EXR	C	0.11%
RMD	C	0.1%
DXCM	F	0.1%
HOLX	D	0.1%
PODD	C	0.1%
IDXX	D	0.1%
ALGN	D	0.1%
NWSA	D	0.1%
NWS	D	0.1%
ODFL	D	0.09%
CTVA	B	0.09%
NTRS	C	0.09%
BX	C	0.09%
TROW	C	0.09%
EXPD	B	0.09%
BEN	F	0.09%
AXON	B	0.09%
CF	B	0.09%
RCL	B	0.09%
LYV	A	0.09%
CHRW	B	0.09%
CCL	C	0.09%
KKR	B	0.09%
NCLH	B	0.09%
IVZ	B	0.09%
COP	F	0.08%
MRO	D	0.08%
PNW	C	0.08%
HES	F	0.08%
APA	F	0.08%
FDX	D	0.08%
EOG	D	0.08%
FANG	F	0.08%
PPL	A	0.08%
HWM	B	0.08%
EVRG	B	0.08%
JCI	B	0.08%
TDG	B	0.08%
GNRC	D	0.08%
MOS	F	0.08%
RTX	B	0.08%
FRT	C	0.07%
VICI	C	0.07%
SW	B	0.07%
SBAC	C	0.07%
IRM	C	0.07%
MGM	D	0.07%
LYB	D	0.07%
CZR	C	0.07%
WYNN	C	0.07%
OXY	F	0.07%
LVS	C	0.07%
FIS	C	0.06%
RF	B	0.06%
MTB	C	0.06%
ABT	C	0.06%
MDT	B	0.06%
IP	C	0.06%
BSX	B	0.06%
CPAY	B	0.05%
LIN	B	0.05%
MKTX	D	0.05%
IFF	A	0.05%
ALB	D	0.05%
FICO	B	0.05%
TFX	B	0.05%
SOLV	D	0.05%
WST	D	0.05%
DD	B	0.05%
EMN	B	0.05%
JKHY	B	0.05%
AJG	D	0.04%
CBRE	B	0.04%
CSGP	D	0.04%
FDS	C	0.04%
MSCI	C	0.04%
ICE	C	0.04%
VLTO	B	0.03%
NDSN	C	0.03%

SSPY Underweight 77 Positions Relative to SKOR

Symbol	Grade	Weight
PAA	D	-0.19%
TD	C	-0.17%
LII	C	-0.16%
ARW	B	-0.15%
RPRX	C	-0.14%
ALLY	F	-0.14%
WU	C	-0.13%
BRX	C	-0.12%
CM	B	-0.11%
BHP	C	-0.11%
MKL	C	-0.11%
NVT	C	-0.11%
ATHS	A	-0.11%
ARCC	A	-0.11%
BMO	C	-0.11%
LH	D	-0.11%
BIDU	C	-0.1%
BKU	D	-0.1%
VNT	F	-0.09%
THG	C	-0.09%
FHN	D	-0.09%
CMA	C	-0.09%
AGR	C	-0.09%
FLO	C	-0.09%
LAZ	B	-0.09%
BNS	B	-0.09%
AFG	C	-0.08%
AWH	F	-0.08%
FAF	B	-0.08%
LEA	D	-0.08%
CSL	B	-0.08%
HP	F	-0.08%
ORI	B	-0.08%
H	B	-0.08%
DSS	F	-0.08%
AMH	D	-0.08%
DINO	F	-0.08%
WHR	C	-0.08%
NFG	B	-0.08%
JEF	C	-0.08%
GLPI	C	-0.08%
AVT	B	-0.07%
KMPR	D	-0.07%
SBRA	C	-0.07%
WB	C	-0.07%
BKH	B	-0.07%
GSBD	D	-0.07%
CUBE	C	-0.07%
EPD	C	-0.07%
BABA	B	-0.07%
HSBC	B	-0.07%
SKT	B	-0.06%
SCS	D	-0.06%
WPC	C	-0.06%
AL	C	-0.06%
NNN	B	-0.06%
SITC	D	-0.05%
DT	C	-0.05%
RY	A	-0.05%
AER	C	-0.05%
PDM	C	-0.04%
HPP	F	-0.04%
VOYA	B	-0.04%
KRG	C	-0.04%
RNR	B	-0.04%
RPM	B	-0.04%
AXS	B	-0.04%
HIW	C	-0.04%
KRC	C	-0.04%
DB	B	-0.04%
FLS	C	-0.03%
FNF	B	-0.03%
AAP	F	-0.02%
BDN	C	-0.02%
MUFG	D	-0.02%
CP	C	-0.01%
OHI	C	-0.0%