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FlexShares Ultra-Short Income Fund

Active ETF
RAVI
Payout Change
Pending
Price as of:
$75.1 +0.05 +0.07%
primary theme
U.S. Ultrashort Bond Duration
RAVI (ETF)

FlexShares Ultra-Short Income Fund

Payout Change
Pending
Price as of:
$75.1 +0.05 +0.07%
primary theme
U.S. Ultrashort Bond Duration
RAVI (ETF)

FlexShares Ultra-Short Income Fund

Payout Change
Pending
Price as of:
$75.1 +0.05 +0.07%
primary theme
U.S. Ultrashort Bond Duration

Name

As of 12/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

FlexShares Ultra-Short Income Fund

RAVI | Active ETF

$75.10

$1.16 B

5.04%

$3.78

0.26%

Vitals

YTD Return

5.6%

1 yr return

5.6%

3 Yr Avg Return

3.7%

5 Yr Avg Return

2.6%

Net Assets

$1.16 B

Holdings in Top 10

10.4%

52 WEEK LOW AND HIGH

$75.1
$75.03
$75.66

Expenses

OPERATING FEES

Expense Ratio 0.26%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 79.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 12/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

FlexShares Ultra-Short Income Fund

RAVI | Active ETF

$75.10

$1.16 B

5.04%

$3.78

0.26%

RAVI - Profile

Distributions

  • YTD Total Return 5.6%
  • 3 Yr Annualized Total Return 3.7%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    FlexShares Ultra-Short Income Fund
  • Fund Family Name
    Flexshares Trust
  • Inception Date
    Oct 09, 2012
  • Shares Outstanding
    9200001
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bilal Memon

Fund Description

The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its total assets in a portfolio of fixed-income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. Such issuers include, without limitation, U.S. and non-U.S. governments and their agencies, instrumentalities or sponsored enterprises, U.S. state and local governments and municipalities, and U.S. and non-U.S. private-sector entities, such as corporations and banks. The average portfolio duration of this Fund will vary based on The Northern Trust Company Investment Policy Committee’s forecast for interest rates and will normally not exceed one year. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. Interest rate changes have a greater effect on the price of fixed-income securities with longer durations. The dollar-weighted average portfolio maturity of the Fund is normally not expected to exceed two years.
The Fund invests in investment grade debt securities (i.e., securities that are, at the time of investment, rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (“NRSRO”) or of compa
rable quality as determined by NTI). The Fund may invest, without limitation, in fixed-income securities and instruments of foreign issuers in developed markets, including debt securities of foreign governments, and may invest more than 25% of its total assets in securities and instruments of issuers in a single developed market country. The Fund may invest up to 20% of its total assets in fixed-income securities and instruments of issuers in emerging markets.
The Fund may invest, without limitation, in mortgage- or asset-backed securities, including to-be-announced (“TBAs”) transactions, and purchase and sell securities on a when-issued, delayed delivery or forward commitment basis. However, the Fund will not invest more than 10% of its total assets in non-agency mortgage or asset-backed securities. The Fund also may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts (such as buy backs or mortgage dollar rolls). The Fund may engage in forward foreign currency transactions for hedging purposes in order to protect against uncertainty in the level of future foreign currency exchange rates, to facilitate local settlements or to protect against currency exposure in connection with its distributions to shareholders. The Fund, however, does not expect to engage in currency transactions for speculative purposes (e.g., for potential income or capital gain).
The Fund is an actively managed ETF that does not seek to replicate the performance of a specified index. The Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index.
The Fund may lend securities representing up to one-third of the value of the Fund’s total assets (including the value of the collateral received).
From time to time the Fund may focus its investments (i.e., invest more than 15% of its total assets) in one or more particular sectors. As of December 31, 2023, the Fund focused its investments in the financial sector.
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RAVI - Performance

Return Ranking - Trailing

Period RAVI Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -1.2% 8.5% 55.19%
1 Yr 5.6% -1.1% 8.5% 54.25%
3 Yr 3.7%* -1.4% 5.5% 47.80%
5 Yr 2.6%* -1.1% 4.4% 38.22%
10 Yr 2.1%* -4.1% 27.9% 42.98%

* Annualized

Return Ranking - Calendar

Period RAVI Return Category Return Low Category Return High Rank in Category (%)
2023 0.8% -2.3% 4.3% 65.57%
2022 -1.5% -6.5% 0.5% 36.10%
2021 -0.9% -2.1% 0.3% 90.45%
2020 0.7% -3.1% 1.8% 21.47%
2019 0.9% -1.2% 6.1% 24.31%

Total Return Ranking - Trailing

Period RAVI Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -1.2% 8.5% 55.19%
1 Yr 5.6% -1.1% 8.5% 54.25%
3 Yr 3.7%* -1.4% 5.5% 47.80%
5 Yr 2.6%* -1.1% 4.4% 38.22%
10 Yr 2.1%* -4.1% 27.9% 42.98%

* Annualized

Total Return Ranking - Calendar

Period RAVI Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% 0.8% 12.1% 66.04%
2022 0.2% -5.1% 2.5% 40.49%
2021 0.0% -2.1% 14.5% 69.35%
2020 2.1% -1.0% 3.6% 29.32%
2019 3.5% 0.3% 9.6% 23.20%

RAVI - Holdings

Concentration Analysis

RAVI Category Low Category High RAVI % Rank
Net Assets 1.16 B 26.6 K 28.6 B 43.87%
Number of Holdings 284 2 1248 45.28%
Net Assets in Top 10 119 M 27.7 K 22.7 B 61.32%
Weighting of Top 10 10.38% 6.3% 159.6% 92.92%

Top 10 Holdings

  1. FHLB 1.30%
  2. U.S. Treasury Bills 1.26%
  3. BlackRock Funding, Inc. 1.24%
  4. Pepsico Singapore Financing I Pte. Ltd. 1.06%
  5. J M Smucker Co. (The) 0.98%
  6. Simon Property Group LP 0.98%
  7. Cooperatieve Rabobank UA 0.90%
  8. NatWest Markets plc 0.89%
  9. Barclays plc 0.88%
  10. Keurig Dr Pepper, Inc. 0.88%

Asset Allocation

Weighting Return Low Return High RAVI % Rank
Bonds 		89.46% 0.00% 122.88% 32.08%
Convertible Bonds 		6.12% 0.00% 15.25% 22.75%
Other 		6.11% -13.48% 99.96% 58.02%
Cash 		4.43% 0.00% 112.72% 51.89%
Stocks 		0.00% 0.00% 97.16% 79.25%
Preferred Stocks 		0.00% 0.00% 1.02% 75.47%

Bond Sector Breakdown

Weighting Return Low Return High RAVI % Rank
Corporate 		72.82% 0.00% 99.91% 4.74%
Cash & Equivalents 		3.73% 0.00% 112.72% 55.19%
Municipal 		2.48% 0.00% 70.39% 9.95%
Securitized 		1.95% 0.00% 100.00% 74.88%
Government 		0.40% 0.00% 100.00% 61.61%
Derivative 		0.00% -13.48% 16.56% 59.91%

Bond Geographic Breakdown

Weighting Return Low Return High RAVI % Rank
US 		89.46% 0.00% 122.88% 32.08%
Non US 		0.00% 0.00% 20.18% 79.72%

RAVI - Expenses

Operational Fees

RAVI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.26% 0.08% 29.63% 83.73%
Management Fee 0.25% 0.00% 1.19% 57.08%
12b-1 Fee 0.00% 0.00% 1.00% 17.07%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

RAVI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

RAVI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RAVI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 79.00% 0.00% 336.00% 62.92%

RAVI - Distributions

Dividend Yield Analysis

RAVI Category Low Category High RAVI % Rank
Dividend Yield 5.04% 0.00% 8.76% 36.32%

Dividend Distribution Analysis

RAVI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

RAVI Category Low Category High RAVI % Rank
Net Income Ratio N/A -1.30% 14.86% 9.92%

Capital Gain Distribution Analysis

RAVI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

RAVI - Fund Manager Analysis

Managers

Bilal Memon

Start Date

Tenure

Tenure Rank

Oct 09, 2012

9.65

9.7%

Bilal Memon is Vice President of NTI. Mr. Memon joined NTI in 2007 and is responsible for managing various short duration portfolios.Prior to joining Northern Trust in 2007, he was with Ford Motor Company for three years. He joined them as the Associate Director of Pension Asset Management, became a Fixed Income Portfolio Manager in 2005, and finally became part of the Treasury Staff in 2006.Bilal received his B.A degree in Economics from The University of Chicago and his M.B.A. degree in Analytical Finance and Marketing Management from The University of Chicago Graduate School of Business.

Patrick Quinn

Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

Mr. Quinn is a Vice President of Northern Trust Investments, Inc. and has been manager of the Fund since May 2009. Mr. Quinn is also a Senior Portfolio Manager in the Enhanced Cash Group, which he joined in 2001.

Morten Olsen

Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

Morten Olsen is a Vice President of Northern Trust Investments, Inc. Mr. Olsen joined Northern Trust Investments, Inc. in 2009. From 2004 to 2008, Mr. Olsen worked at Lehman Brothers and from 2008 to 2009 at Nomura. In both roles, Mr. Olsen was responsible for the investment of the banks liquidity pool.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 7.92

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