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FlexShares Disciplined Duration MBS Index Fund (MBSD)

POOL RULES

Quick StatsAs Of 07/07/2020

Market Price
$24.19 (0.10%)
52-Week High
$24.71
52-Week Low
$23.07
NAV Price
$24.09
Primary Exchange
NASDAQ
CUSIP
33939L779
Total Net Assets
$81.89M
Number of Holdings*
669
Gross Expense Ratio
.21%
Net Expense Ratio**
.20%
Weighted Avg Yield to Maturity
1.00%
Weighted Avg Coupon
3.36%
Weighted Avg Effective Duration
2.25 yrs
Inception
09/03/2014
*Cash positions and derivatives such as futures & currency forwards are included in the number of holdings.
**Northern Trust Investments, Inc. (“NTI” or the “Adviser”) has contractually agreed to reimburse a portion of the operating expenses of the Fund (other than Acquired Fund Fees and Expenses) to the extent the “Total Annual Fund Operating Expenses” exceed 0.20% until March 1, 2021. Performance would have been lower without fee waivers and expense reimbursements in effect.

OBJECTIVE AND STRATEGY

For investors seeking the income diversification of mortgaged-back securities with targeted duration.

The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE BofAML® Constrained Duration US Mortgage Backed Securities Index (Underlying Index).

VIDEO


2:22 | Transcript

PRICING AND PERFORMANCE

Select Month:
Performance
As of
The fund recently experienced significant negative short-term performance due to market volatility associated with the COVID-19 pandemic. Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds (“ETFs”) in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value (“NAV”) and are not individually redeemable from the fund. Call 855-FLEXETF (855-353-9383) for more information.

Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index. All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. They do not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or upon redemption or sale of fund shares. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 09/04/2014, when the fund first traded on an exchange. Click here to view or download a full prospectus or click here to view or download a summary prospectus.

Northern Trust Investments, Inc. (“NTI” or the “Adviser”) has contractually agreed to reimburse a portion of the operating expenses of the Fund (other than Acquired Fund Fees and Expenses) to the extent the “Total Annual Fund Operating Expenses” exceed 0.20% until March 1, 2021. Performance would have been lower without fee waivers and expense reimbursements in effect.

ICE BofA® Constrained Duration US Mortgage Backed Securities Index tracks the performance of US dollar denominated 30-year, 20-year and 15-year fixed rate residential mortgage pass-through securities publicly issued by US agencies in the US domestic market.

Bloomberg Barclays Capital U.S. MBS Index tracks generics fixed-rate mortgage-backed pass-through and hybrid adjustable rate mortgage pools issued by Ginnie Mae (GNMA), Fannie Mae (FNMA) and Freddie Mac (FHLMC).
Date -
Market Price
Bid/Ask Mid Point Price
Please select start and end dates
Pricing information presented here is historical, and is not indicative of future results. Investment pricing may vary, and at the time of purchase or sale of an investment it may not be indicative of the numbers above. For most recent pricing, please call your advisor.

Pricing will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current price may be lower or higher than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds (“ETFs”) in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Shares are bought and sold at market price (not NAV) and are not individually redeemable from the fund. For the most recent month-end performance, please see the Performance tab above. Click here to view or download a full prospectus or click here to view or download a summary prospectus. For the most recent month-end performance, please see the Performance tab above.
Date -
Market Price
-
NAV
-
Bench mark
-
Index
-
Please select start and end dates
The fund recently experienced significant negative short-term performance due to market volatility associated with the COVID-19 pandemic. Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds (“ETFs”) in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value (“NAV”) and are not individually redeemable from the fund. Call 855-FLEXETF (855-353-9383) for more information. The Growth of $10,000 chart is hypothetical based upon the historical performance of the Fund. It includes the reinvestment of dividends and capital gains at net asset value: actual returns may differ. It does not reflect the deduction of other fees and expenses, in which case the performance would have been lower.

Index performance does not represent FlexShares fund performance. It is not possible to invest directly in an index. All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. They do not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or upon redemption or sale of fund shares. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 09/04/2014, when the fund first traded on an exchange. Click here to view or download a full prospectus or click here to view or download a summary prospectus. For the most recent month-end performance, please see the Performance tab above.

Northern Trust Investments, Inc. (“NTI” or the “Adviser”) has contractually agreed to reimburse a portion of the operating expenses of the Fund (other than Acquired Fund Fees and Expenses) to the extent the “Total Annual Fund Operating Expenses” exceed 0.20% until March 1, 2021. Performance would have been lower without fee waivers and expense reimbursements in effect.

ICE BofA® Constrained Duration US Mortgage Backed Securities Index tracks the performance of US dollar denominated 30-year, 20-year and 15-year fixed rate residential mortgage pass-through securities publicly issued by US agencies in the US domestic market.

Bloomberg Barclays Capital U.S. MBS Index tracks generics fixed-rate mortgage-backed pass-through and hybrid adjustable rate mortgage pools issued by Ginnie Mae (GNMA), Fannie Mae (FNMA) and Freddie Mac (FHLMC).
Date -
SEC Subsidized Yield
SEC Unsubsidized Yield
Please select start and end dates
The fund recently experienced significant negative short-term performance due to market volatility associated with the COVID-19 pandemic. Yield information presented here is historical, and is not indicative of future results. Yield may vary and, at the time of purchase or sale of an investment, it may not be indicative of the numbers above. For the most recent month-end performance, please see the Performance tab above.

Performance information presented on this website is historical, and is not indicative of future results. Investment returns and principal may vary, and at the time of sale an investment may be worth more or worth less than its original value. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds (“ETFs”) in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance data quoted. Shares are bought and sold at market price (not NAV) and are not individually redeemable from the fund.

Click here to view or download a full prospectus or click here to view or download a summary prospectus. For standardized performance, please see the Performance tab above.
Select Year:
Distributions

PREMIUM DISCOUNT

Date -
Premium Discount
Please select start and end dates
Information presented here is historical, and is not indicative of future results. Investment premiums or discounts may vary, and at the time of purchase or sale of an investment it may not be indicative of the numbers above. Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices.
Select Time Frame:
Greatest Premium
Greatest Discount
Days at Premium
Days at Discount
Days at Nav
Total Days in Period
As of
Information presented here is historical, and is not indicative of future results. Investment premiums or discounts may vary, and at the time of purchase or sale of an investment it may not be indicative of the numbers above. Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices.
Select Time Frame:
Greatest Premium
Greatest Discount
Days at Premium
Days at Discount
Days at Nav
Total Days in Period
As of
Information presented here is historical, and is not indicative of future results. Investment premiums or discounts may vary, and at the time of purchase or sale of an investment it may not be indicative of the numbers above. Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices.

HOLDINGS

Top 10 holdings for MBSD make up _!HOLDINGPERCENT of the fund's total holdings

MATURITY

_!MATURITYVALUE of the portfolio has _!MATURITYNAME maturity

ASSET ALLOCATION

MBSD asset allocation is mostly bonds

MBS Coupon Ranges By % Fund

MBSD invests in a wide variety of coupons

COUNTRY BREAKDOWN

Quality Allocations

As of: 07/06/2020
  • S&P
  • Moody's
  • Fitch
% of Total
AA+ 99.88
Cash/and or Derivatives 0.12
Total 100.00
% of Total
Agency 75.14
Cash/and or Derivatives 0.12
Govt 24.74
Total 100.00
% of Total
Agency 75.14
Cash/and or Derivatives 0.12
Govt 24.74
Total 100.00

INDEX

The ICE BofAML® Constrained Duration US Mortgage Backed Securities Index tracks the performance of US dollar denominated 30-year, 20-year and 15-year fixed rate residential mortgage pass-through securities publicly issued by US agencies in the US domestic market. Fixed rate mortgage pools are included in the Index provided they have at least one year remaining term to final maturity and a minimum amount outstanding of at least $5 billion per generic coupon. In addition, individual production years within a generic coupon must have at least $1 billion outstanding face value to enter the index and at least $250 million outstanding face value to remain in the index. Balloon, mobile home, graduated payment and quarter coupon fixed rate mortgages are excluded from the index, as are all collateralized mortgage obligations.

Index Methodology

Definitions

SEC Subsidized Yield
The 30-Day SEC Subsidized Yield is computed under an SEC standardized formula based on net income earned over the past 30 days. It is a "subsidized" yield, which means it includes contractual expense reimbursements and it would be lower without those reimbursements.
SEC Unsubsidized Yield
The 30-Day SEC Unsubsidized Yield calculation is also computed under the same SEC standardized formula based on net income earned over the past 30 days, but excludes contractual expense reimbursements, resulting in a lower yield.
Distribution Yield
This yield is calculated by taking the most recent distribution annualized and dividing by the fund NAV from the as of date. For Funds that distribute monthly, an NA will be displayed if the fund has not distributed within the last 35 days.
12-Month Dividend Yield
This yield is the sum of all income distributions over the past twelve months and dividing by the most recent NAV.
Premium/Discount
This is the calculation of a Fund's daily NAV (%) in comparison to the midpoint of the closing bid/ask as of 4PM ET.
Median Bid-Ask Spread
This is the calculation of a Fund's daily median bid-ask spread ($) by identifying the Fund’s National Best Bid and Offer ("NBBO") as of the end of each 10 second interval during the trading day within the last 30 calendar days, dividing the difference between such bid and offer by the midpoint of the NBBO and publishing the median of these values.

The Glossary contains definitions of widely used investment terms found on this page.