TLTE vs. GMF ETF Comparison

Comparison of FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) to SPDR S&P Emerging Asia Pacific ETF (GMF)

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

$53.62

Average Daily Volume

4,149

Number of Holdings ^*

* may have additional holdings in another (foreign) market

GMF

SPDR S&P Emerging Asia Pacific ETF

GMF Description

The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of an index. The fund employs a sampling strategy in seeking to track the performance of the S&P Asia Pacific Emerging BMI Index. It generally invests at least 80% of its total assets in the securities comprising the index or in ADRs or GDRs based on securities comprising the index. The index is a market capitalization weighted index designed to define and measure the investable universe of publicly traded companies domiciled in emerging Asian Pacific markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$116.67

Average Daily Volume

19,583

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	TLTE	GMF
30 Days	-3.60%	-4.50%
60 Days	-2.31%	0.55%
90 Days	-1.68%	3.00%
12 Months	11.52%	19.78%

32 Overlapping Holdings

Symbol	Grade	Weight in TLTE	Weight in GMF	Overlap
ATHM	D	0.01%	0.03%	0.01%
BABA	D	1.98%	2.29%	1.98%
BEKE	D	0.09%	0.16%	0.09%
BEKE	D	0.03%	0.16%	0.03%
BGNE	D	0.08%	0.16%	0.08%
BIDU	F	0.26%	0.35%	0.26%
BILI	D	0.03%	0.07%	0.03%
CHT	D	0.11%	0.19%	0.11%
DQ	F	0.13%	0.01%	0.01%
GDS	C	0.03%	0.02%	0.02%
HDB	C	0.83%	1.59%	0.83%
IBN	C	0.57%	0.0%	0.0%
IBN	C	0.57%	1.22%	0.57%
IQ	F	0.01%	0.01%	0.01%
LI	F	0.1%	0.18%	0.1%
MNSO	F	0.02%	0.02%	0.02%
MOMO	D	0.12%	0.02%	0.02%
NIO	F	0.05%	0.09%	0.05%
PDD	F	0.55%	1.1%	0.55%
RLX	C	0.01%	0.02%	0.01%
TAL	F	0.03%	0.07%	0.03%
TCOM	B	0.26%	0.44%	0.26%
TME	D	0.02%	0.04%	0.02%
TME	D	0.03%	0.04%	0.03%
UMC	F	0.18%	0.32%	0.18%
VIPS	F	0.05%	0.08%	0.05%
WB	D	0.1%	0.01%	0.01%
WIT	A	0.07%	0.32%	0.07%
XPEV	C	0.07%	0.1%	0.07%
YMM	C	0.04%	0.06%	0.04%
YUMC	C	0.13%	0.31%	0.13%
YY	C	0.01%	0.03%	0.01%

TLTE Overweight 24 Positions Relative to GMF

Symbol	Grade	Weight
VALE	F	0.38%
KB	B	0.26%
SHG	D	0.2%
SGRP	D	0.16%
BAP	B	0.13%
FINV	B	0.11%
ABEV	F	0.07%
GGB	C	0.05%
BCH	F	0.05%
ERJ	B	0.05%
ASAI	F	0.05%
KEP	B	0.04%
VIST	A	0.04%
SKM	D	0.04%
CSAN	F	0.03%
SBSW	D	0.03%
BRFS	D	0.03%
ATAT	C	0.02%
LPL	F	0.02%
IMOS	F	0.01%
EH	F	0.01%
IFS	B	0.01%
CAR	C	0.01%
AKO.A	F	0.01%

TLTE Underweight 24 Positions Relative to GMF

Symbol	Grade	Weight
TSM	B	-9.03%
INFY	B	-1.08%
MMYT	B	-0.21%
ZTO	F	-0.17%
LEGN	F	-0.05%
SIMO	D	-0.04%
BZ	F	-0.04%
QFIN	B	-0.03%
TIGR	D	-0.02%
HIMX	F	-0.02%
NOAH	D	-0.01%
QD	C	-0.01%
VNET	B	-0.01%
BTBT	C	-0.01%
JKS	F	-0.01%
SOHU	F	-0.01%
DADA	F	-0.0%
NIU	F	-0.0%
API	C	-0.0%
CAN	C	-0.0%
TUYA	F	-0.0%
HUYA	F	-0.0%
LX	C	-0.0%
GOTU	F	-0.0%