Symbols

TLTD

FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund·NYSE

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Key Stats

Assets Under Management

630.98MUSD

Fund Flows (1Y)

16.73MUSD

Dividend Yield

3.21%

Discount/Premium to NAV

-0.37%

Shares Outstanding

6.40M

Expense Ratio

0.39%

About FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund

Issuer

Northern Trust

Brand

FlexShares

Home Page

https://www.flexshares.com/us/en/individual/funds/tltd

Inception Date

Sep 25, 2012

Structure

Open-Ended Fund

Index Tracked

Morningstar Developed Markets ex-US Factor Tilt Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Qualified dividends

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Northern Trust Investments, Inc.(Investment Management)

Distributor

Foreside Fund Services LLC

TLTD offers a different take from the broad developed ex-US stocks. The fund, launched September 2012, shares a similar mindset with its US-based cousin, TILT, namely, a bias toward smaller, value-oriented firms, based on work done by Fama and French. Fama and French championed a 3-factor pricing model that added size and style to market risk. TLTD applies the logic with a very light hand. Its bias toward small-caps is noticeable, with more allocations to small-caps compared to the usual regular market-cap-weighted fund. Subscribers to the Fama-French view might argue that slight tilts rather than huge biases make TLTD more viable for long-term allocation. Overall, be mindful of the fund's small cap bias before investing. The underlying index is reconstituted semi-annually and rebalanced quarterly.