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.
Fund Basics
Fund sponsor | Northern Trust Investments Inc |
Category | Emerging Market Equities |
Asset class | Equity |
Website | link... |
Inception date | Sep 25, 2012 |
Assets (mns) | $271 |
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 | 3.4 % |
ALIBABA GROUP HOLDING LTD. | 1.8 % |
SAMSUNG ELECTRONICS CO LTD | 1.8 % |
TENCENT HOLDINGS LTD | 1.4 % |
RELIANCE INDUSTRIES LTD | 0.9 % |
CHINA CONSTRUCTION BANK-H | 0.7 % |
HDFC BANK LIMITED | 0.6 % |
VALE SA | 0.5 % |
INFOSYS TECHNOLOGIES LTD | 0.5 % |
INTERNATIONAL HOLDINGS COMPANY PJSC | 0.5 % |
Constituent Breakdown
Number of holdings | 2975 |
Herfindahl-Hirschman Index | 31 |
Wgt avg mkt cap (mns) | $65,414 |
Large cap (>$10bn) | 48.6% |
Mid cap ($2-10bn) | 21.6% |
Small cap (<$2bn) | 28.7% |
Developed mkts. | 5.5% |
Emerging mkts. | 94.6% |
Country Exposure
CHINA | 16.5 % | |
INDIA | 15.6 % | |
TAIWAN | 15.4 % | |
SOUTH KOREA | 11.3 % | |
BRAZIL | 6.9 % | |
SOUTH AFRICA | 3.5 % | |
MEXICO | 3.3 % | |
SAUDI ARABIA | 2.6 % | |
HONG KONG | 2.4 % | |
MALAYSIA | 2.2 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
-1.1% | 8.5% | -0.1% | -2.4% | 2.7% | 2.9% | 2.8% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.65 | 47% |
MSCI EAFE | 0.86 | 74% |
MSCI Emg Mkts | 0.95 | 98% |
Liquidity Measures
Avg. volume (000) | 4 |
Turnover | 0.1% |
Avg. Bid/Ask (% of price) | 0.23% |
ADV of underlying (mns) | $67,328 |
Technical Indicators
Recent close | $50.89 |
30d moving avg. | $49.43 |
Annualized volatility | 17.0% |
Relative strength (RSI) | 60 |
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 | 62.0% | -50 bp | -2.1% |
BKEM | BNY Mellon Emerging Markets Equity ETF | 58.3% | -48 bp | -1.9% |
GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 57.1% | -23 bp | -2.1% |
DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 56.6% | +7 bp | -2.4% |
EEM | iShares MSCI Emerging Markets ETF | 55.3% | +10 bp | -2.6% |
DFAE | Dimensional Emerging Core Equity Market ETF | 55.0% | -24 bp | -1.9% |
VWO | Vanguard FTSE Emerging Markets ETF | 54.8% | -51 bp | -2.0% |
DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 51.2% | -21 bp | -1.3% |
JHEM | John Hancock Multifactor Emerging Markets ETF | 48.0% | -10 bp | -1.2% |
SCHE | Schwab Emerging Markets Equity ETF | 47.8% | -48 bp | -2.0% |
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 4/24/2024
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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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
TLTE
9.6%
Cat. Avg
7.7%
Fund Category: Emerging Market Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 9.6% |
Recommendation
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.
Category Overview
There are 163 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.7% and a standard deviation of
3.8%. TLTE's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places TLTE in the 68th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
TLTE
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
Bid/Ask Spread | |
Update |
Today's Trading
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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. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .