TLTE vs. DBAW ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to db X-trackers MSCI All World ex US Hedged Equity Fund (DBAW)

TLTE

FlexShares Morningstar Emerging Markets Factor Tilt Index Fund

TLTE Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MorningstarÂ® Emerging Markets Factor Tilt IndexSM. The fund generally will invest under normal circumstances at least 80% of its 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 emerging equities markets, with increased exposure (or a "tilt") to small-capitalization stocks and value stocks.

Grade (RS Rating)

Last Trade

$53.46

Average Daily Volume

4,143

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DBAW

db X-trackers MSCI All World ex US Hedged Equity Fund

DBAW Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI ACWI ex USA US Dollar Hedged Index. The fund, using a "passive" or indexing investment approach, attempts to approximate the investment performance of the underlying index. The underlying index is designed to provide exposure to equity securities in developed and emerging stock markets (excluding the United States), while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and selected non-U.S. currencies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$34.31

Average Daily Volume

12,941

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	DBAW
30 Days	-4.32%	-2.23%
60 Days	-1.63%	1.15%
90 Days	-1.73%	1.14%
12 Months	11.46%	17.70%

38 Overlapping Holdings

Symbol	Grade	Weight in TLTE	Weight in DBAW	Overlap
ABEV	F	0.07%	0.03%	0.03%
ASAI	F	0.05%	0.02%	0.02%
ATHM	C	0.01%	0.01%	0.01%
BABA	D	1.98%	0.59%	0.59%
BAP	A	0.13%	0.04%	0.04%
BCH	C	0.05%	0.02%	0.02%
BEKE	D	0.03%	0.04%	0.03%
BEKE	D	0.09%	0.04%	0.04%
BGNE	D	0.08%	0.03%	0.03%
BIDU	F	0.26%	0.09%	0.09%
BILI	D	0.03%	0.01%	0.01%
BRFS	C	0.03%	0.01%	0.01%
CHT	C	0.11%	0.05%	0.05%
CSAN	F	0.03%	0.01%	0.01%
ERJ	A	0.05%	0.02%	0.02%
GGB	C	0.05%	0.02%	0.02%
HDB	C	0.83%	0.29%	0.29%
IBN	C	0.57%	0.26%	0.26%
IQ	F	0.01%	0.0%	0.0%
KB	B	0.26%	0.09%	0.09%
KEP	B	0.04%	0.02%	0.02%
LI	F	0.1%	0.05%	0.05%
LPL	D	0.02%	0.01%	0.01%
NIO	F	0.05%	0.02%	0.02%
PDD	F	0.55%	0.27%	0.27%
SBSW	D	0.03%	0.01%	0.01%
SHG	C	0.2%	0.06%	0.06%
SKM	C	0.04%	0.0%	0.0%
TAL	F	0.03%	0.01%	0.01%
TCOM	B	0.26%	0.11%	0.11%
TME	D	0.02%	0.03%	0.02%
TME	D	0.03%	0.03%	0.03%
UMC	F	0.18%	0.06%	0.06%
VALE	F	0.38%	0.11%	0.11%
VIPS	F	0.05%	0.02%	0.02%
WIT	B	0.07%	0.03%	0.03%
XPEV	C	0.07%	0.03%	0.03%
YUMC	C	0.13%	0.07%	0.07%

TLTE Overweight 17 Positions Relative to DBAW

Symbol	Grade	Weight
SGRP	D	0.16%
DQ	F	0.13%
MOMO	D	0.12%
FINV	B	0.11%
WB	D	0.1%
VIST	B	0.04%
YMM	C	0.04%
GDS	C	0.03%
MNSO	D	0.02%
ATAT	C	0.02%
IMOS	F	0.01%
EH	D	0.01%
RLX	C	0.01%
IFS	A	0.01%
CAR	C	0.01%
AKO.A	F	0.01%
YY	B	0.01%

TLTE Underweight 50 Positions Relative to DBAW

Symbol	Grade	Weight
NVS	F	-0.71%
TM	F	-0.62%
HSBH	B	-0.58%
UL	D	-0.5%
MUFG	B	-0.46%
SHOP	B	-0.46%
SONY	B	-0.41%
TD	D	-0.34%
SMFG	B	-0.31%
ABBV	F	-0.31%
DEO	F	-0.23%
MFG	A	-0.21%
CNI	F	-0.2%
BCS	A	-0.17%
LYG	D	-0.15%
HMC	F	-0.14%
NU	C	-0.14%
SE	A	-0.13%
E	F	-0.12%
STLA	F	-0.1%
GOLD	C	-0.1%
AER	A	-0.07%
RBA	A	-0.06%
TEVA	C	-0.06%
NMR	B	-0.06%
CYBR	A	-0.05%
CHKP	C	-0.05%
XRX	F	-0.05%
CCEP	C	-0.05%
LOGI	D	-0.04%
OTEX	F	-0.03%
HTHT	D	-0.03%
SCCO	F	-0.03%
WIX	A	-0.03%
GRAB	A	-0.03%
QGEN	D	-0.03%
MNDY	C	-0.03%
FUTU	D	-0.02%
XP	F	-0.02%
AGCO	D	-0.02%
WFG	C	-0.02%
DOOO	F	-0.01%
STNE	F	-0.01%
BVN	D	-0.01%
QFIN	A	-0.01%
LEGN	D	-0.01%
BZ	F	-0.01%
MBAVU	C	-0.01%
GLBE	B	-0.01%
PAGS	F	-0.0%