FEEM
FlexShares ESG & Climate Emerging Markets Core Index ETF
FEEM tracks a principles-based index of large-cap companies in emerging markets that exhibit positive environmental, social, and corporate governance (ESG) characteristics. A proprietary ESG scoring system is used to select and weight holdings.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
4.6 M
ASSETS UNDER MGMT
18 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 20, 2022 |
| Assets (mns) | $5 |
| Expense ratio | 18 bp |
| Currency | CAD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Principles-based |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 11.1 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 3.6 % |
| SAMSUNG ELECTRONICS CO LTD | 3.1 % |
| INFOSYS TECHNOLOGIES LTD | 1.9 % |
| RELIANCE INDS-SPONS GDR 144A | 1.8 % |
| MEITUAN DIANPING | 1.8 % |
| HYNIX SEMICONDUCTOR INC | 1.6 % |
| BHARTI AIRTEL LIMITED | 1.6 % |
| HON HAI PRECISION INDUSTRY | 1.4 % |
| CATHAY FINANCIAL HOLDING CO | 1.3 % |
Constituent Breakdown
| Number of holdings | 268 |
| Herfindahl-Hirschman Index | 207 |
| Wgt avg mkt cap (mns) | $147,595 |
| Large cap (>$10bn) | 83.1% |
| Mid cap ($2-10bn) | 16.9% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 8.0% |
| Emerging mkts. | 92.0% |
Country Exposure
 |
TAIWAN | 22.6 % |
 |
INDIA | 20.4 % |
 |
CHINA | 17.0 % |
 |
SOUTH KOREA | 14.0 % |
 |
BRAZIL | 4.9 % |
 |
SOUTH AFRICA | 4.1 % |
 |
MEXICO | 2.1 % |
 |
MALAYSIA | 2.1 % |
 |
SAUDI ARABIA | 2.0 % |
 |
HONG KONG | 1.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 14.2% | 14.9% | 16.5% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 58% |
| MSCI EAFE | 1.12 | 81% |
| MSCI Emg Mkts | 1.10 | 102% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $13,404 |
Technical Indicators
| Recent close | $46.28 |
| 30d moving avg. | $47.05 |
| Annualized volatility | 23.2% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FEEM |
Expenses vs. FEEM |
ALTAR Score™ vs. FEEM |
|---|---|---|---|---|
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 46.5% | -3 bp | +3.5% |
| ESGE | iShares ESG Aware MSCI EM ETF | 42.5% | +7 bp | +0.3% |
| KEMX | KraneShares MSCI Emerging Markets EX China Index ETF | 42.1% | +6 bp | +2.3% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 40.8% | +12 bp | +0.5% |
| NUEM | Nuveen ESG Emerging Markets Equity ETF | 40.0% | +18 bp | -0.3% |
| ECON | Columbia Emerging Markets Consumer ETF | 37.8% | +31 bp | +0.5% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 37.7% | +7 bp | -0.2% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 37.7% | -3 bp | +0.5% |
| STXE | Strive Emerging Markets Ex-China ETF | 37.6% | +14 bp | +0.1% |
| XC | WisdomTree Emerging Markets Ex-China Fund | 37.3% | +14 bp | -0.9% |
Risk and Returns: FEEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/23/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FEEM
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
FEEM
6.8%
Cat. Avg
7.7%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. FEEM's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places FEEM in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FEEMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| FEEM (18 bp) Percentile rank | 5 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FEEM | 18.0 | 15.2 | 33.2 |
| Peer Avg. | 47.4 | 39.4 | 86.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .