TILT
FlexShares Morningstar US Market Factor Tilt Index Fund
FlexShares Morningstar US Market Factor Tilt Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Morningstar US Market Factor Tilt Index.
US
EQUITY
Passive
MANAGEMENT STYLE
1.8 B
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust Investments Inc |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 16, 2011 |
| Assets (mns) | $1,778 |
| Expense ratio | 25 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 4.5 % |
| APPLE INC | 4.5 % |
| NVIDIA CORP | 3.8 % |
| AMAZON.COM INC | 2.5 % |
| META PLATFORMS INC | 1.5 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.4 % |
| ALPHABET INC. CLASS A | 1.4 % |
| ALPHABET INC. CLASS C | 1.3 % |
| JPMORGAN CHASE & CO | 1.1 % |
| BROADCOM INC. | 1.0 % |
Constituent Breakdown
| Number of holdings | 1918 |
| Herfindahl-Hirschman Index | 85 |
| Wgt avg mkt cap (mns) | $590,523 |
| Large cap (>$10bn) | 77.4% |
| Mid cap ($2-10bn) | 18.7% |
| Small cap (<$2bn) | 3.7% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
UNITED STATES | 95.7 % |
 |
IRELAND | 1.4 % |
 |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.6% | 36.2% | 20.1% | 7.4% | 13.8% | 11.3% | 14.1% | Volatility | 13.1% | 13.3% | 15.0% | 18.2% | 22.2% | 18.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.02 | 95% |
| MSCI EAFE | 0.91 | 78% |
| MSCI Emg Mkts | 0.69 | 43% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $411,354 |
Technical Indicators
| Recent close | $222.23 |
| 30d moving avg. | $213.30 |
| Annualized volatility | 18.2% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 3.2% |
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. TILT |
Expenses vs. TILT |
ALTAR Score™ vs. TILT |
|---|---|---|---|---|
| ITOT | iShares Core S&P Total U.S. Stock Market ETF | 78.4% | -22 bp | -0.4% |
| VTHR | Vanguard Russell 3000 ETF | 78.2% | -15 bp | -0.5% |
| IWV | iShares Russell 3000 ETF | 78.2% | -5 bp | -0.6% |
| VTI | Vanguard Total Stock Market ETF | 78.2% | -22 bp | -0.5% |
| SCHB | Schwab U.S. Broad Market ETF | 77.3% | -22 bp | -0.3% |
| DFAU | Dimensional US Core Equity Market ETF | 77.3% | -13 bp | -0.2% |
| GUSA | Goldman Sachs MarketBeta U.S. 1000 Equity ETF | 77.1% | -14 bp | -0.3% |
| DFUS | Dimensional U.S. Equity ETF | 76.3% | -16 bp | -0.4% |
| DCOR | Dimensional US Core Equity 1 ETF | 76.2% | -11 bp | +0.1% |
| IYY | iShares Dow Jones U.S. ETF | 76.1% | -5 bp | -0.4% |
Risk and Returns: TILT 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 11/21/2024
Peer Group Comparison Sample data. Subscribe for access.
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
TILT
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™
TILT
5.2%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. TILT's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places TILT in the 47th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TILTSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| TILT (25 bp) Percentile rank | 40 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TILT | 25.0 | 7.0 | 32 |
| Peer Avg. | 20.9 | 9.1 | 29.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .