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
$ 668.1 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Inception date | Sep 25, 2012 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ASML HOLDING NV | 1.1 % |
| HSBC HOLDINGS PLC | 1.0 % |
| SHELL PLC | 0.8 % |
| TOYOTA MOTOR CORP | 0.7 % |
| TOTAL SA | 0.6 % |
| BANCO SANTANDER SA | 0.6 % |
| TORONTO-DOMINION BANK | 0.6 % |
| ALLIANZ SE-REG | 0.6 % |
| ROCHE HOLDING LTD | 0.6 % |
| ASTRAZENECA PLC | 0.5 % |
Constituent Breakdown
| Number of holdings | 2362 |
| Herfindahl-Hirschman Index | 18 |
| Wgt avg mkt cap (mns) | $55,893 |
| Large cap (>$10bn) | 54.4% |
| Mid cap ($2-10bn) | 20.9% |
| Small cap (<$2bn) | 17.0% |
| Developed mkts. | 93.6% |
| Emerging mkts. | 1.0% |
Sector Breakdown
Country Exposure
 |
JAPAN | 26.1 % |
 |
BRITAIN | 12.1 % |
 |
CANADA | 10.2 % |
 |
FRANCE | 7.2 % |
 |
GERMANY | 6.5 % |
 |
SWITZERLAND | 5.0 % |
 |
AUSTRALIA | 4.7 % |
 |
NETHERLANDS | 3.4 % |
 |
SPAIN | 2.8 % |
 |
SWEDEN | 2.6 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 9.5% | 24.5% | 17.9% | 17.2% | 6.3% | 6.3% | -- | 5.4% |
| Dividend Yield | 0.0% | 4.4% | 4.4% | 4.3% | 3.7% | 3.4% | -- | 3.1% |
| Total Returns | 9.5% | 28.8% | 22.3% | 21.5% | 10.0% | 9.7% | -- | 8.5% | Ann. Volatility | 18.4% | 14.5% | 15.8% | 14.8% | 16.0% | 16.8% | -- | 16.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 56% |
| MSCI EAFE | 0.94 | 94% |
| MSCI Emg Mkts | 0.58 | 63% |
Liquidity Measures
| Avg. volume (000) | 8 |
| ADV traded (mns) | $1 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.85% |
Technical Indicators
| 30d moving avg. (EMA) | $99.76 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.78/0.76 |
| Bollinger Bands (Upper/Lower) | $102.37/$98.41 |
| Short interest (% of AUM) | 0.6% |
Distributions
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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 | 60.4% | -35 bp | -1.0% |
| BKIE | BNY Mellon International Equity ETF | 59.2% | -35 bp | -0.9% |
| VEA | Vanguard FTSE Developed Markets ETF | 58.8% | -36 bp | -1.1% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 57.4% | -36 bp | -1.2% |
| DFAI | Dimensional International Core Equity Market ETF | 56.0% | -21 bp | -0.9% |
| IEFA | iShares Core MSCI EAFE ETF | 55.2% | -32 bp | -0.9% |
| SCHF | Schwab International Equity ETF | 54.4% | -33 bp | -1.1% |
| DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | 52.9% | +2 bp | -1.0% |
| GXUS | Goldman Sachs MarketBeta Total International Equity ETF | 52.6% | -21 bp | -0.7% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 52.1% | -19 bp | -1.1% |
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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| 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 6/3/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
7.3%
ALTAR SCORE™
78th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 415 funds in the International Equity category with an average
ALTAR Score™ of 6.1% and a standard deviation
of 1.6%. TLTD's ALTAR Score™ is approximately 0.8 standard
deviations above the category average. This places TLTD in the 78th percentile
among funds in the category.
Sell-Side Consensus
$110.67
PRICE TARGET
+9.3%
UPSIDE