FlexShares ESG & Climate Developed Markets ex-US Core Index Fund
FEDM
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- FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield performance, before fees and expenses, of the Northern Trust ESG & Climate Developed Markets ex-US Core Index. The Underlying Index measures the performance of large- and mid-capitalization companies from developed markets outside the United States that exhibit strong environmental, social, and governance (ESG) characteristics, with an emphasis on climate-related factors; the fund employs a representative sampling technique to track this index, investing primarily in non-U.S. equities across diversified sectors including industrials, financials, health care, consumer discretionary, and information technology. FEDM offers investors exposure to ESG-screened developed market equities excluding the U.S., targeting capital appreciation while aligning with sustainable investment values; its portfolio typically holds around 219 securities, with assets under management of approximately $69 million and a net expense ratio of 0.12%. The fund was launched on September 20, 2021, and is issued by FlexShares Trust, a Maryland statutory trust originally formed on May 13, 2010, as NT ETF Trust and renamed FlexShares Trust. FlexShares Trust is managed by Northern Trust Investments, Inc., a subsidiary of Northern Trust Corporation, with principal operations headquartered at 50 South LaSalle Street in Chicago, Illinois. Shares trade on the NYSE Arca exchange and are available to individual and institutional investors seeking foreign large-blend exposure with ESG integration. In recent developments, Northern Trust Asset Management announced in August 2025 the launch of new fixed-income ETF suites under the Northern Trust ETFs brand, with existing FlexShares ETFs, including FEDM, scheduled for rebranding to Northern Trust ETFs in 2026 without changes to investment processes or portfolio management. FlexShares has continued operations for FEDM amid a series of liquidations of other ESG-focused funds, such as the FlexShares ESG & Climate Emerging Markets Core Index Fund (FEEM) in April 2024 and an unspecified ETF in October 2025, reflecting portfolio optimization efforts. No major acquisitions, partnerships, or product expansions specific to FEDM were reported in the last 1-2 years.