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Trending ETFs

Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$51.31

$49.8 M

0.93%

$0.48

0.13%

Vitals

YTD Return

7.0%

1 yr return

12.9%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$49.8 M

Holdings in Top 10

16.9%

52 WEEK LOW AND HIGH

$51.2
$41.48
$51.35

Expenses

OPERATING FEES

Expense Ratio 0.13%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$51.31

$49.8 M

0.93%

$0.48

0.13%

FEDM - Profile

Distributions

  • YTD Total Return 7.0%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    FlexShares ESG & Climate Developed Markets ex-US Core Index Fund
  • Fund Family Name
    N/A
  • Inception Date
    Sep 20, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Santiccioli

Fund Description

The Underlying Index is designed to reflect the performance of a selection of companies that exhibit certain environmental, social and governance (“ESG”) characteristics, while also seeking to provide broad-market, core exposure to publicly traded equity securities issued by companies domiciled in developed market countries, excluding the U.S. The Underlying Index is designed to minimize tracking differences relative to the Northern Trust Developed Markets ex-US Large Cap IndexSM (the “Parent Index”), while also seeking (a) an aggregate higher scoring of certain ESG characteristics, as measured by the Northern Trust ESG Vector Score (“ESG Vector Score”) described below, and (b) reduction of aggregate climate-related risk, as measured by certain carbon-related risk metrics, each relative to the Parent Index. The Underlying Index also excludes certain companies by using controversial business involvement and norms-based screens.
The Parent Index is a sub-index of the Northern Trust Global IndexSM, where eligible securities are limited to those of companies that are domiciled in non-U.S. developed market countries and designated as large- or mid-
capitalization companies by NTI, in its capacity as Index Provider (the “Index Provider”). As of December 31, 2023, the Index Provider classifies the following as developed market countries outside of the U.S.: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and United Kingdom.
The Index Provider applies an ESG Vector Score to each of the companies in the Parent Index. The ESG Vector Score is designed to rank companies based on their management of and exposure to material ESG metrics as defined by the Sustainability Accounting Standards Board (“SASB”) Standards and a corporate governance score for each company. NTI calculates and maintains ESG Vector Scores for companies using data from third-party data providers. The SASB Standards identify financially material ESG issues for a company based on its industry classification within the following five dimensions: (i) environmental; (ii) social capital; (iii) human capital; (iv) business model and innovation; and (v) leadership and governance. The preliminary ESG score is then adjusted up or down based on a quantitative assessment of how a company is managing the risks associated with those material ESG issues relative to its peers based on the recommendations of the Task Force on Climate-related Financial Disclosures to evaluate a company through governance, strategy and risk management lenses. The adjusted ESG score generates 80% of the ESG Vector Score. Finally, a distinct corporate governance score is applied to each company with respect to its (i) board and management quality and integrity; (ii) board structure; (iii) ownership and shareholder rights; (iv) remuneration; (v) financial reporting; and (vi) stakeholder governance, which generates 20% of the ESG Vector Score.
In addition to applying the ESG Vector Score, the Index Provider uses data from Institutional Shareholder Services ESG Solutions to assess carbon emissions intensity, carbon reserves and a carbon risk rating for each company. Carbon emissions intensity measures (i) direct greenhouse gas emissions from sources controlled or owned by the company (e.g., emissions associated with fuel combustion in boilers, furnaces, or vehicles); and (ii) indirect greenhouse gas emissions associated with the purchase of electricity, steam, heat or cooling against sales by the company. Carbon reserves measure the total estimated greenhouse gas
emissions attributable to a company’s fossil fuel reserve assets. The ISS Carbon Risk Rating provides an assessment of a company’s ability to mitigate the risks of transition to a lower carbon economy based on its specific baseline carbon risk exposure.
At the time of each reconstitution of the Underlying Index, the Index Provider uses an optimization process to select and weight securities in the Parent Index to seek to (i) minimize the potential for tracking differences for the Underlying Index; (ii) increase the aggregate ESG Vector Score for the companies in the Underlying Index; (iii) reduce the aggregate carbon emissions intensity and aggregate carbon reserves of the companies in the Underlying Index; and (iv) improve the aggregate carbon risk rating of the companies in the Underlying Index, each relative to the Parent Index. It is possible that the Underlying Index will include (and therefore the Fund could invest in) securities that, individually, have a low ESG Vector Score or high carbon-related risk relative to the aggregate ESG score or carbon-related risk of the Parent Index. The optimization also includes constituent, liquidity, turnover, country, region, sector, industry group and weight constraints so that these characteristics in the Underlying Index vary within acceptable bands relative to the Parent Index.
Certain eligible securities are excluded from the Underlying Index by the Index Provider, using proprietary screening definitions and data from Sustainalytics and other independent ESG data providers, which may change from time to time. Excluded companies include those which are involved in (i) verified infringement of established international initiatives and guidelines, including United Nations Global Compact Principles and Organisation for Economic Co-operation and Development (OECD) Guidelines for Multinational Entities; (ii) the production of tobacco; and (iii) manufacturing of controversial weapons. Excluded companies also include those which derive a certain percentage of revenue (e.g., 5% or more) from (a) manufacturing of civilian firearms; (b) manufacture, retailing, and distribution of small arms (assault and non-assault) weapons or components; (c) manufacturing of conventional weapons or providing support services through military contracting; (d) thermal coal extraction; (e) coal-fired energy generation; (f) oil sands and shale; (g) arctic oil with weak management of carbon within their products and services; (h) the retail sale of tobacco and tobacco
related products or services; and (i) the running of private prisons. The above-described exclusionary screens are applied with each reconstitution of the Underlying Index.
As of December 31, 2023, the Underlying Index was comprised of 262 constituents with market capitalizations ranging from $3.5 billion to $439 billion. The Underlying Index is reconstituted quarterly under normal market conditions. The Fund generally reconstitutes its portfolio in accordance with the Underlying Index.
NTI uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
NTI uses a representative sampling strategy to manage the Fund. “Representative sampling” is investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index. The Fund may or may not hold all of the securities that are included in the Underlying Index. The Fund reserves the right to invest in substantially all of the securities in its Underlying Index in approximately the same proportions (i.e., replication) if NTI determines that it is in the best interest of the Fund.
Under normal circumstances, the Fund will invest at least 80% of its total assets (exclusive of collateral held from securities lending) in the securities of the Underlying Index and in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) (collectively “Depositary Receipts”) based on the securities in the Underlying Index. The Fund may also invest up to 20% of its assets in cash and cash equivalents, including shares of money market funds advised by NTI or its affiliates, futures contracts, options on futures contracts and forward currency contracts, as well as securities not included in the Underlying Index, but which NTI believes will help the Fund track its Underlying Index. The Fund usually, but not always, pursues a strategy of being fully invested by exposing all or a portion of its cash to the performance of certain markets by purchasing index futures contracts (also known as “equitization”). This is intended to cause the Fund to perform as though its cash were actually invested in those markets. This futures exposure may or may not match the Fund’s Underlying Index and create indirect exposure to
companies that have been excluded from the Underlying Index. The Fund will not invest directly in securities that have been excluded from the Fund’s Underlying Index.
The Underlying Index is created and sponsored by NTI, as the Index Provider. NTI also serves as the investment adviser to the Fund. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
The Fund may lend securities representing up to one-third of the value of the Fund’s total assets (including the value of the collateral received).
The Fund is “non-diversified” under the Investment Company Act of 1940 (“1940 Act”), as amended, and may invest more of its assets in fewer issuers than “diversified” funds.
From time to time the Fund may focus its investments (i.e.,invest more than 15% of its total assets) in one or more particular countries or geographic regions. As of December 31, 2023, the Fund focused its investments in Japan,the United Kingdom, France, Canada and Germany.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.
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FEDM - Performance

Return Ranking - Trailing

Period FEDM Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -28.5% 12.2% 95.04%
1 Yr 12.9% -31.2% 121.5% N/A
3 Yr N/A* -52.6% 123.6% N/A
5 Yr N/A* -11.3% 58.0% N/A
10 Yr N/A* -5.9% 10.0% N/A

* Annualized

Return Ranking - Calendar

Period FEDM Return Category Return Low Category Return High Rank in Category (%)
2023 14.3% -45.5% 71.3% N/A
2022 -17.4% -15.4% 11.9% N/A
2021 N/A -10.4% 121.9% N/A
2020 N/A -33.7% 8.5% N/A
2019 N/A -13.0% 27.5% N/A

Total Return Ranking - Trailing

Period FEDM Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -28.5% 12.2% 98.39%
1 Yr 12.9% -31.2% 121.5% N/A
3 Yr N/A* -52.6% 123.6% N/A
5 Yr N/A* -11.3% 58.0% N/A
10 Yr N/A* -3.1% 10.0% N/A

* Annualized

Total Return Ranking - Calendar

Period FEDM Return Category Return Low Category Return High Rank in Category (%)
2023 17.4% -45.5% 71.3% N/A
2022 -15.2% -15.4% 11.9% N/A
2021 N/A -10.4% 121.9% N/A
2020 N/A -18.0% 8.5% N/A
2019 N/A -13.0% 29.4% N/A

FEDM - Holdings

Concentration Analysis

FEDM Category Low Category High FEDM % Rank
Net Assets 49.8 M 1.02 M 369 B 93.71%
Number of Holdings 272 1 10801 31.84%
Net Assets in Top 10 8.14 M 0 34.5 B 94.98%
Weighting of Top 10 16.89% 1.6% 100.0% 76.18%

Top 10 Holdings

  1. Novo Nordisk A/S, Class B 2.67%
  2. ASML Holding NV 2.16%
  3. Nestle SA (Registered) 1.89%
  4. SAP SE 1.83%
  5. Shell plc 1.53%
  6. Toyota Motor Corp. 1.45%
  7. AstraZeneca plc 1.37%
  8. L'Oreal SA 1.36%
  9. Schneider Electric SE 1.34%
  10. Commonwealth Bank of Australia 1.29%

Asset Allocation

Weighting Return Low Return High FEDM % Rank
Stocks
98.75% 0.00% 122.60% 42.35%
Other
0.96% -16.47% 17.36% 70.01%
Cash
0.29% -65.15% 100.00% 52.97%
Preferred Stocks
0.00% 0.00% 1.87% 57.20%
Convertible Bonds
0.00% 0.00% 4.18% 53.24%
Bonds
0.00% -10.79% 71.30% 56.99%

Stock Sector Breakdown

Weighting Return Low Return High FEDM % Rank
Utilities
0.00% 0.00% 13.68% 28.94%
Technology
0.00% 0.00% 36.32% 68.51%
Real Estate
0.00% 0.00% 14.59% 33.78%
Industrials
0.00% 5.17% 99.49% 61.37%
Healthcare
0.00% 0.00% 21.35% 48.32%
Financial Services
0.00% 0.00% 47.75% 14.40%
Energy
0.00% 0.00% 16.89% 22.07%
Communication Services
0.00% 0.00% 21.69% 64.33%
Consumer Defense
0.00% 0.00% 32.29% 50.47%
Consumer Cyclical
0.00% 0.00% 36.36% 68.37%
Basic Materials
0.00% 0.00% 23.86% 52.76%

Stock Geographic Breakdown

Weighting Return Low Return High FEDM % Rank
Non US
98.49% 0.00% 125.24% 26.55%
US
0.25% -7.78% 68.98% 82.96%

FEDM - Expenses

Operational Fees

FEDM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.13% 0.01% 3.96% 94.83%
Management Fee 0.12% 0.00% 1.60% 9.87%
12b-1 Fee N/A 0.00% 1.00% 10.21%
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

FEDM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FEDM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FEDM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 247.00% N/A

FEDM - Distributions

Dividend Yield Analysis

FEDM Category Low Category High FEDM % Rank
Dividend Yield 0.93% 0.00% 13.65% 24.84%

Dividend Distribution Analysis

FEDM Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

FEDM Category Low Category High FEDM % Rank
Net Income Ratio N/A -0.93% 6.38% N/A

Capital Gain Distribution Analysis

FEDM Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

FEDM - Fund Manager Analysis

Managers

Steven Santiccioli


Start Date

Tenure

Tenure Rank

Sep 20, 2021

0.69

0.7%

Steven J. Santiccioli, Vice President of Northern Trust Investments, Inc., has been a manager of the Fund since July 2007. Mr. Santiccioli joined NTI in 2003 and manages various quantitative equity portfolios. Previously, he joined Deutsche Bank in 1993, formerly serving as head of accounting group for international index portfolios. He also was a fund administrator for Equity and Fixed Income unit trusts for Chase Manhattan Bank. Steve earned a BA from Bucknell University and an MBA from Fordham University.

Robert Anstine


Start Date

Tenure

Tenure Rank

Sep 20, 2021

0.69

0.7%

Robert Anstine is Vice President of NTI. Mr. Anstine joined NTI in 2011 and is responsible for managing various global index equity portfolios. In addition, he has been involved with the investment management of the FlexShares equity index funds since their inception. Prior to joining NTI and since 2007, Mr. Anstine worked at Northern Trust as an operations manager.

Alan Aung


Start Date

Tenure

Tenure Rank

Sep 20, 2021

0.69

0.7%

Alan Aung is a Vice President of NTI. Mr. Aung joined NTI in 2017 and is responsible for managing index equity portfolios. Prior to joining NTI, Mr. Aung was a Portfolio Manager at iShares on the US iShares team.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.13 2.92