TLTE
FlexShares Morningstar Emerging Markets Factor Tilt Index
FlexShares Morningstar Emerging Markets Factor Tilt Index Fund is an exchanged-traded fund incorporated in the USA. The Fund seeks to track the performance of the Morningstar Emerging Markets Factor Tilt Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
266.2 M
ASSETS UNDER MGMT
59 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust Investments Inc |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 25, 2012 |
| Assets (mns) | $266 |
| Expense ratio | 59 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
| TAIWAN SEMICONDUCTOR MANUFAC | 5.0 % |
| SAMSUNG ELECTRONICS CO LTD | 2.2 % |
| TENCENT HOLDINGS LTD | 2.1 % |
| ALIBABA GROUP HOLDING LTD. | 1.7 % |
| RELIANCE INDS-SPONS GDR 144A | 1.7 % |
| HDFC BANK LIMITED | 0.8 % |
| HON HAI PRECISION INDUSTRY | 0.8 % |
| CHINA CONSTRUCTION BANK-H | 0.7 % |
| INFOSYS TECHNOLOGIES LTD | 0.7 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 0.6 % |
Constituent Breakdown
| Number of holdings | 2982 |
| Herfindahl-Hirschman Index | 51 |
| Wgt avg mkt cap (mns) | $95,700 |
| Large cap (>$10bn) | 56.4% |
| Mid cap ($2-10bn) | 20.3% |
| Small cap (<$2bn) | 22.2% |
| Developed mkts. | 6.3% |
| Emerging mkts. | 93.7% |
Country Exposure
 |
CHINA | 17.6 % |
 |
INDIA | 17.2 % |
 |
TAIWAN | 15.6 % |
 |
SOUTH KOREA | 10.6 % |
 |
BRAZIL | 5.0 % |
 |
SOUTH AFRICA | 3.5 % |
 |
SAUDI ARABIA | 2.6 % |
 |
HONG KONG | 2.4 % |
 |
MEXICO | 2.4 % |
 |
MALAYSIA | 2.0 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 6.5% | 20.4% | 17.6% | 0.0% | 5.1% | 3.3% | 3.3% | Volatility | 14.0% | 14.0% | 14.7% | 16.4% | 20.0% | 18.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.68 | 49% |
| MSCI EAFE | 0.81 | 71% |
| MSCI Emg Mkts | 0.97 | 99% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.23% |
| ADV of underlying (mns) | $85,196 |
Technical Indicators
| Recent close | $53.23 |
| 30d moving avg. | $56.41 |
| Annualized volatility | 17.0% |
| 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. TLTE |
Expenses vs. TLTE |
ALTAR Score™ vs. TLTE |
|---|---|---|---|---|
| IEMG | iShares Core MSCI Emerging Markets ETF | 64.0% | -50 bp | -3.9% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 63.5% | -48 bp | -2.9% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 62.4% | -44 bp | -4.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 62.0% | -23 bp | -3.5% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 61.0% | +7 bp | -1.3% |
| EEM | iShares MSCI Emerging Markets ETF | 58.4% | +10 bp | -4.4% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 57.9% | -24 bp | -4.0% |
| VWO | Vanguard FTSE Emerging Markets ETF | 57.8% | -51 bp | -4.4% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 54.4% | -10 bp | -3.2% |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 53.1% | -21 bp | -3.5% |
Risk and Returns: TLTE 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 11/15/2024
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
TLTE
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
TLTE
11.4%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. TLTE's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places TLTE in the 81st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TLTESELL
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 |
| TLTE (59 bp) Percentile rank | 43 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TLTE | 59.0 | 22.6 | 81.6 |
| Peer Avg. | 48.9 | 28.9 | 77.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .