TLTD vs. PDN ETF Comparison

Comparison of FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund (TLTD) to PowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio (PDN)

TLTD

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

TLTD Description

The investment seeks investment results that correspond generally to the price and yield performance of the MorningstarÂ® Developed Markets ex-US Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index reflects the performance of a selection of equity securities designed to provide broad exposure to the global developed equities markets, excluding the U.S., with increased exposure to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$72.74

Average Daily Volume

25,991

Number of Holdings ^*

* may have additional holdings in another (foreign) market

PDN

PowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio

PDN Description

The PowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio (Fund) is based on the FTSE RAFI Developed Markets ex-U.S. Mid-Small 1500 Index ND (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index and American Depository Receipts (ADRs) based on the securities in the Index. The Index is designed to track the performance of small and mid capitalization equities of companies domiciled in developed international markets (excluding the US), selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The equities with the highest fundamental strength are weighted according to their fundamental scores. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are reconstituted annually.

Grade (RS Rating)

Last Trade

$33.46

Average Daily Volume

17,831

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTD	PDN
30 Days	3.73%	4.14%
60 Days	1.51%	1.76%
90 Days	6.16%	5.75%
12 Months	17.18%	12.88%

14 Overlapping Holdings

Symbol	Grade	Weight in TLTD	Weight in PDN	Overlap
AEI	F	0.02%	0.15%	0.02%
BBUC	D	0.03%	0.03%	0.03%
BWLP	B	0.01%	0.11%	0.01%
DOOO	C	0.13%	0.09%	0.09%
FLNG	C	0.01%	0.04%	0.01%
FSM	B	0.02%	0.13%	0.02%
GOGL	A	0.01%	0.16%	0.01%
HAFN	A	0.01%	0.09%	0.01%
IAG	B	0.02%	0.2%	0.02%
LSPD	F	0.02%	0.08%	0.02%
PRMW	A	0.03%	0.17%	0.03%
RBA	D	0.04%	0.16%	0.04%
TAC	C	0.02%	0.12%	0.02%
TRMD	B	0.09%	0.05%	0.05%

TLTD Overweight 35 Positions Relative to PDN

Symbol	Grade	Weight
TM	D	1.01%
NVS	B	0.57%
TD	F	0.4%
UL	A	0.38%
MUFG	D	0.34%
SMFG	D	0.32%
SONY	F	0.29%
ABBV	D	0.24%
DEO	D	0.22%
HMC	D	0.21%
MFG	D	0.2%
CNI	D	0.19%
SHOP	F	0.18%
STLA	D	0.17%
LYG	A	0.16%
BCS	A	0.14%
WCN	C	0.12%
E	C	0.12%
GOLD	B	0.09%
NMR	D	0.07%
CCEP	A	0.04%
LOGI	D	0.04%
SMMF	B	0.03%
ECO	A	0.03%
QGEN	C	0.03%
OTEX	F	0.03%
AGCO	F	0.03%
WFG	D	0.02%
DNN	B	0.02%
GCBC	B	0.01%
ELBM	F	0.01%
PIXY	F	0.01%
TIGO	B	0.01%
ORLA	B	0.01%
RENB	F	0.0%

TLTD Underweight 3 Positions Relative to PDN

Symbol	Grade	Weight
ASTL	F	-0.1%
PDS	B	-0.09%
XRX	F	-0.05%