TLTD
FlexShares Morningstar Developed Markets ex-US Factor Tilt
FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund is an exchanged-traded fund incorporated in the USA. The Fund seeks to track the performance of the Morningstar Developed Markets ex-US Factor Tilt Index.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
436.7 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust Investments Inc |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 25, 2012 |
| Assets (mns) | $437 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NOVO NORDISK A/S-B | 1.2 % |
| ASML HOLDING NV | 1.0 % |
| SHELL PLC | 0.9 % |
| TOYOTA MOTOR CORP | 0.9 % |
| NESTLE SA-REG | 0.7 % |
| ROCHE HOLDING AG-BR | 0.7 % |
| ASTRAZENECA PLC | 0.7 % |
| SAP AG | 0.6 % |
| NOVARTIS AG | 0.6 % |
| TOTAL SA | 0.6 % |
Constituent Breakdown
| Number of holdings | 2517 |
| Herfindahl-Hirschman Index | 17 |
| Wgt avg mkt cap (mns) | $50,221 |
| Large cap (>$10bn) | 55.9% |
| Mid cap ($2-10bn) | 22.6% |
| Small cap (<$2bn) | 20.7% |
| Developed mkts. | 99.2% |
| Emerging mkts. | 0.7% |
Country Exposure
 |
JAPAN | 23.1 % |
 |
BRITAIN | 13.3 % |
 |
CANADA | 10.5 % |
 |
FRANCE | 7.2 % |
 |
SWITZERLAND | 6.0 % |
 |
GERMANY | 6.0 % |
 |
AUSTRALIA | 5.3 % |
 |
NETHERLANDS | 3.2 % |
 |
SWEDEN | 2.6 % |
 |
ITALY | 2.5 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.5% | 13.9% | 12.0% | 4.6% | 5.9% | 5.0% | 6.1% | Volatility | 12.9% | 13.1% | 14.2% | 16.4% | 19.4% | 16.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.83 | 71% |
| MSCI EAFE | 0.98 | 97% |
| MSCI Emg Mkts | 0.82 | 66% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.12% |
| ADV of underlying (mns) | $58,752 |
Technical Indicators
| Recent close | $68.23 |
| 30d moving avg. | $71.33 |
| Annualized volatility | 17.4% |
| Relative strength (RSI) | 45 |
| 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. TLTD |
Expenses vs. TLTD |
ALTAR Score™ vs. TLTD |
|---|---|---|---|---|
| IDEV | iShares Core MSCI International Developed Markets ETF | 63.0% | -35 bp | -0.4% |
| VEA | Vanguard FTSE Developed Markets ETF | 62.4% | -34 bp | -0.1% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 60.8% | -36 bp | -0.4% |
| BKIE | BNY Mellon International Equity ETF | 59.4% | -35 bp | -0.5% |
| DFAI | Dimensional International Core Equity Market ETF | 58.9% | -21 bp | -0.2% |
| IEFA | iShares Core MSCI EAFE ETF | 58.4% | -32 bp | -0.4% |
| GXUS | Goldman Sachs MarketBeta Total International Equity ETF | 56.9% | -21 bp | -0.6% |
| DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | 56.8% | +2 bp | -0.1% |
| IXUS | iShares Core MSCI Total International Stock ETF | 56.1% | -32 bp | -0.3% |
| SCHF | Schwab International Equity ETF | 55.5% | -33 bp | +0.1% |
Risk and Returns: TLTD 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 12/20/2024
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
TLTD
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™
TLTD
7.7%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.7%. TLTD's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places TLTD in the 53rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TLTDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| TLTD (39 bp) Percentile rank | 44 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TLTD | 39.0 | 12.2 | 51.2 |
| Peer Avg. | 35.6 | 19.0 | 54.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .