TLTE vs. DBEM ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to db-X trackers MSCI Emerging Markets Hedged Equity Fund (DBEM)

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

$53.59

Average Daily Volume

4,143

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DBEM

db-X trackers MSCI Emerging Markets Hedged Equity Fund

DBEM Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EM US Dollar Hedged Index (the "underlying index"). The fund will normally invest at least 80% of its net assets in the equity securities of issuers from emerging markets countries and in instruments designed to hedge against the fund's exposure to non-U.S. currencies. The index is designed to provide exposure to equity securities in the global emerging markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and selected emerging market currencies. It is non-diversified.

Grade (RS Rating)

Last Trade

$25.37

Average Daily Volume

9,288

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	DBEM
30 Days	-4.32%	-3.59%
60 Days	-1.63%	0.72%
90 Days	-1.73%	0.76%
12 Months	11.46%	14.62%

38 Overlapping Holdings

Symbol	Grade	Weight in TLTE	Weight in DBEM	Overlap
ABEV	F	0.07%	0.11%	0.07%
ASAI	F	0.05%	0.09%	0.05%
ATHM	C	0.01%	0.03%	0.01%
BABA	D	1.98%	2.06%	1.98%
BAP	A	0.13%	0.15%	0.13%
BCH	C	0.05%	0.07%	0.05%
BEKE	D	0.03%	0.16%	0.03%
BEKE	D	0.09%	0.16%	0.09%
BGNE	D	0.08%	0.13%	0.08%
BIDU	F	0.26%	0.29%	0.26%
BILI	D	0.03%	0.05%	0.03%
BRFS	C	0.03%	0.03%	0.03%
CHT	C	0.11%	0.17%	0.11%
CSAN	F	0.03%	0.03%	0.03%
ERJ	A	0.05%	0.08%	0.05%
GGB	C	0.05%	0.06%	0.05%
HDB	C	0.83%	1.03%	0.83%
IBN	C	0.57%	0.94%	0.57%
IQ	F	0.01%	0.01%	0.01%
KB	B	0.26%	0.3%	0.26%
KEP	B	0.04%	0.05%	0.04%
LI	F	0.1%	0.17%	0.1%
LPL	D	0.02%	0.02%	0.02%
NIO	F	0.05%	0.08%	0.05%
PDD	F	0.55%	0.96%	0.55%
SBSW	D	0.03%	0.04%	0.03%
SHG	C	0.2%	0.2%	0.2%
SKM	C	0.04%	0.03%	0.03%
TAL	F	0.03%	0.06%	0.03%
TCOM	B	0.26%	0.4%	0.26%
TME	D	0.02%	0.11%	0.02%
TME	D	0.03%	0.11%	0.03%
UMC	F	0.18%	0.19%	0.18%
VALE	F	0.38%	0.4%	0.38%
VIPS	F	0.05%	0.06%	0.05%
WIT	B	0.07%	0.11%	0.07%
XPEV	C	0.07%	0.1%	0.07%
YUMC	C	0.13%	0.23%	0.13%

TLTE Overweight 17 Positions Relative to DBEM

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 10 Positions Relative to DBEM

Symbol	Grade	Weight
NU	C	-0.5%
SCCO	F	-0.11%
HTHT	D	-0.08%
XP	F	-0.07%
BZ	F	-0.04%
QFIN	A	-0.04%
BVN	D	-0.03%
STNE	F	-0.03%
LEGN	D	-0.03%
PAGS	F	-0.02%