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
279.6 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) | $280 |
| 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) | $95,639 |
| Large cap (>$10bn) | 56.6% |
| Mid cap ($2-10bn) | 20.2% |
| Small cap (<$2bn) | 22.0% |
| 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 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 10.6% | 22.0% | 19.2% | 1.4% | 6.6% | 3.8% | 3.7% | Volatility | 11.9% | 13.0% | 15.4% | 16.0% | 19.9% | 18.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.65 | 48% |
| MSCI EAFE | 0.81 | 72% |
| MSCI Emg Mkts | 0.96 | 99% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.23% |
| ADV of underlying (mns) | $174,892 |
Technical Indicators
| Recent close | $55.92 |
| 30d moving avg. | $54.15 |
| Annualized volatility | 16.7% |
| Relative strength (RSI) | 54 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
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 | 64.6% | -50 bp | -3.9% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 63.5% | -48 bp | -2.8% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 62.4% | -44 bp | -4.0% |
| 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 | -1.5% |
| EEM | iShares MSCI Emerging Markets ETF | 58.6% | +10 bp | -4.5% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 58.2% | -24 bp | -3.9% |
| VWO | Vanguard FTSE Emerging Markets ETF | 58.1% | -51 bp | -4.3% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 54.4% | -10 bp | -3.1% |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 53.7% | -21 bp | -3.4% |
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 10/17/2024
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
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
TLTE
11.1%
Cat. Avg
7.6%
ALTAR Score™ Calculation
Category Overview
There are 164 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.6% and a standard deviation of
4.1%. TLTE's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places TLTE in the 80th 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. | 48.7 | 26.1 | 74.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .