Flexshares Morningstar US Market Factors Tilt Index Fund
ALTAR
Score™
8.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
13.4x P/Sales
ratio
1.0x
P/BV
ratio
1.5x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
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.

FUND BASICS
Category US Equities
Fund Sponsor Northern Trust Investments Inc
Website www.flexshares.com
Inception date Sep 22, 2011
Assets (mns) $1,084
Currency USD
Expense ratio 25 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian JPMorgan Chase Bank
Weighting Proprietary
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 2208
Wgt avg mkt cap (mns) $195,766
Large cap (>$10bn) 72.4%
Mid cap ($2-10bn) 15.4%
Small cap (<$2bn) 12.2%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
MICROSOFT CORP 3.5 %
APPLE INC 3.1 %
AMAZON.COM INC 2.4 %
BERKSHIRE HATHAWAY INC-CL B 1.6 %
JPMORGAN CHASE & CO 1.3 %
FACEBOOK 1.2 %
UNITEDHEALTH GROUP INC 1.0 %
INTEL CORP 1.0 %
ALPHABET INC. CLASS C 1.0 %
ALPHABET INC. CLASS A 1.0 %
Total 17.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
IRELAND 1.5 %
BRITAIN 0.8 %
BERMUDA 0.5 %
SWITZERLAND 0.3 %
ARGENTINA 0.1 %
PUERTO RICO 0.0 %
CAYMAN ISLANDS 0.0 %
ISRAEL 0.0 %
SINGAPORE 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-26.3% -16.4% 2.9% -- 10.3%

Market Correlations
versus... Beta R-squared
S&P500 1.15 96%
MSCI EAFE 1.08 82%
MSCI Emg. Mkts. 0.80 67%

Technical Indicators
Recent close $89.93
30d moving avg. $103.01
Annualized volatility 17.8%
Short interest (ETF) 0.0%
Short interest (Underlying) 3.7%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 79
Turnover 0.7%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $390,688

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Flexshares Morningstar US Market Factors Tilt Index Fund ETF based on the alternatives' overlap in portfolio holdings with TILT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: TILT Expense: 25 bp ALTAR Score™: 8.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH TILT
Ticker Fund
Name
Overlap1
vs TILT
(%)
Expense
ratio
(bp)
Savings
vs TILT
(bp)
ALTAR
Score™
(%)
ALTAR
vs TILT
(%)
SCHB Schwab U.S. Broad Market ETF 80.9 3 22 7.0 -1.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 80.8 3 22 7.0 -1.7
VTHR Vanguard Russell 3000 Index Fund 80.6 10 15 6.9 -1.7
IWV iShares Russell 3000 ETF 80.5 20 5 6.9 -1.8
VTI Vanguard Total Stock Market Index Fund 80.5 3 22 7.0 -1.7
IYY iShares Dow Jones U.S. ETF 78.9 20 5 6.9 -1.7
SCHK Schwab 1000 Index ETF 78.3 5 20 7.0 -1.6
IWB iShares Russell 1000 ETF 77.6 15 10 7.0 -1.7
VONE Vanguard Russell 1000 ETF 77.5 8 17 7.0 -1.6
SPTM SPDR Portfolio Total Stock Market ETF 77.5 3 22 7.3 -1.4
SCHX Schwab U.S. Large-Cap ETF 76.5 3 22 7.0 -1.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 74.7 2 23 7.1 -1.6
PBUS Invesco PureBeta MSCI USA ETF 74.5 4 21 7.2 -1.5
VV Vanguard Large-Cap Index Fund 73.7 4 21 7.0 -1.7
PBP Invesco S&P 500 BuyWrite ETF 71.9 49 -24 6.5 -2.1
IVV iShares Core S&P 500 ETF 71.9 4 21 7.1 -1.5
SPY SPDR S&P 500 ETF Trust 71.9 9 16 7.1 -1.6
SPLG SPDR Portfolio Large Cap ETF 71.9 3 22 7.1 -1.5
HSPX Global X S&P 500 Covered Call ETF 71.7 65 -40 6.2 -2.5
VOO VANGUARD S&P 500 ETF 71.6 3 22 7.1 -1.5
JHML John Hancock Multifactor Large Cap ETF 70.7 34 -9 7.5 -1.2
AVUS Avantis U.S. Equity ETF 70.1 15 10 8.0 -0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 69.6 20 5 7.1 -1.5
ESGV Vanguard ESG U.S. Stock ETF 69.6 12 13 7.0 -1.6
SPXE ProShares S&P 500 Ex-Energy ETF 69.5 27 -2 7.0 -1.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 68.0 25 0 8.4 -0.2
VLU SPDR S&P 1500 Value Tilt ETF 68.0 12 13 9.6 +1.0
PRF Invesco FTSE RAFI US 1000 ETF 67.4 39 -14 9.2 +0.6
SFY SoFi Select 500 ETF 67.3 0 25 6.7 -1.9
TOK iShares MSCI Kokusai ETF 66.8 25 0 7.3 -1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 64.0 25 0 8.3 -0.3
MGC Vanguard Mega Cap Index Fund 63.3 7 18 6.8 -1.8
EPS WisdomTree U.S. Earnings 500 Fund 63.0 8 17 8.5 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 62.8 9 16 7.3 -1.3
URTH iShares MSCI World ETF 62.4 24 1 7.5 -1.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 61.2 12 13 6.7 -1.9
CATH Global X S&P 500 Catholic Values Custom ETF 60.8 29 -4 7.0 -1.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 60.7 20 5 6.6 -2.0
SPXN ProShares S&P 500 Ex-Financials ETF 60.5 27 -2 6.6 -2.0
SPXV ProShares S&P 500 Ex-Health Care ETF 60.2 27 -2 6.8 -1.8
IWL iShares Russell Top 200 ETF 59.6 15 10 6.6 -2.0
IUS Invesco Strategic US ETF 58.0 19 6 7.9 -0.7
QUS SPDR MSCI USA StrategicFactors ETF 57.1 15 10 7.3 -1.4
DTD WisdomTree U.S.Total Dividend Fund 56.5 28 -3 8.5 -0.2
RWL Invesco S&P 500 Revenue ETF 56.1 39 -14 9.2 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 56.1 15 10 6.7 -2.0
ACWI iShares MSCI ACWI ETF 56.0 32 -7 7.8 -0.8
VT Vanguard Total World Stock Index Fund 55.0 8 17 8.1 -0.5
SPXT ProShares S&P 500 Ex-Technology ETF 55.0 27 -2 7.3 -1.3
SNPE Xtrackers S&P 500 ESG ETF 53.7 11 14 6.8 -1.8
DIVB iShares U.S. Dividend & Buyback ETF 52.9 25 0 8.8 +0.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 52.7 20 5 8.1 -0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 52.6 20 5 8.1 -0.5
IUSV iShares Core S&P U.S. Value ETF 51.4 4 21 9.4 +0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 50.4 28 -3 8.0 -0.6
IQSU IQ Candriam ESG US Equity ETF 50.4 9 16 6.7 -1.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 50.2 29 -4 8.2 -0.4
IUSG iShares Core S&P US Growth ETF 50.1 4 21 5.8 -2.8
IVE iShares S&P 500 Value ETF 47.6 18 7 9.1 +0.5
SPYV SPDR Portfolio S&P 500 Value ETF 47.6 4 21 9.2 +0.6
OEF iShares S&P 100 ETF 47.5 20 5 6.3 -2.3
VOOV Vanguard S&P 500 Value ETF 47.3 15 10 9.2 +0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 47.2 4 21 5.8 -2.9
ESG FlexShares STOXX US ESG Impact Index Fund 47.2 32 -7 6.8 -1.9
IVW iShares S&P 500 Growth ETF 47.2 18 7 5.6 -3.0
VOOG Vanguard S&P 500 Growth ETF 47.2 10 15 5.7 -2.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 46.9 30 -5 8.1 -0.6
DGRO iShares Core Dividend Growth ETF 46.2 8 17 8.4 -0.3
IWD iShares Russell 1000 Value ETF 46.1 19 6 9.1 +0.5
VONV Vanguard Russell 1000 Value Index Fund 46.0 8 17 9.3 +0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 45.9 15 10 6.9 -1.7
EXT WisdomTree U.S. Total Earnings Fund 45.4 28 -3 7.7 -1.0
IWF iShares Russell 1000 Growth ETF 45.2 19 6 5.7 -3.0
VONG Vanguard Russell 1000 Growth Index Fund 45.2 8 17 5.8 -2.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 44.4 60 -35 6.0 -2.7
QWLD SPDR MSCI World StrategicFactors ETF 44.3 30 -5 7.5 -1.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 43.9 9 16 8.1 -0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 43.8 9 16 7.8 -0.8
RSP Invesco S&P 500 Equal Weight ETF 43.6 20 5 8.8 +0.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 43.5 42 -17 7.2 -1.5
EUSA iShares MSCI USA Equal Weighted ETF 43.0 15 10 8.4 -0.2
RECS Columbia Research Enhanced Core ETF 42.9 15 10 7.5 -1.2
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 42.5 29 -4 5.6 -3.0
AFLG First Trust Active Factor Large Cap ETF 42.2 55 -30 7.7 -0.9
SIZE iShares Edge MSCI USA Size Factor ETF 42.2 15 10 8.3 -0.4
ROUS Hartford Multifactor US Equity ETF 41.4 19 6 9.2 +0.6
RNLC Large Cap US Equity Select ETF 41.2 60 -35 8.2 -0.4
NACP Impact Shares NAACP Minority Empowerment ETF 40.4 75 -50 6.2 -2.4
EQWL Invesco Russell Top 200 Equal Weight ETF 40.3 25 0 7.5 -1.1
EQAL Invesco Russell 1000 Equal Weight ETF 40.0 20 5 7.6 -1.0
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 39.7 29 -4 9.2 +0.6
VTV Vanguard Value Index Fund 39.3 4 21 9.1 +0.5
SCHG Schwab U.S. Large-Cap Growth ETF 39.0 4 21 5.6 -3.0
DSI iShares MSCI KLD 400 Social ETF 38.6 25 0 6.7 -1.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 38.5 34 -9 6.8 -1.8
SCHV Schwab U.S. Large-Cap Value ETF 38.3 4 21 9.0 +0.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 38.2 19 6 8.3 -0.3
XLG Invesco S&P 500 Top 50 ETF 38.0 20 5 5.9 -2.7
WOMN Impact Shares YWCA Women's Empowerment ETF 37.8 75 -50 6.2 -2.4
VEGN US Vegan Climate ETF 37.6 60 -35 7.1 -1.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Flexshares Morningstar US Market Factors Tilt Index Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 13.3 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 8.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.51
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.