FlexShares Morningstar Emerging Markets Factor Tilt Index Fund
TLTE
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- FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield performance, before fees and expenses, of the Morningstar Emerging Markets Factor Tilt Index. The fund provides exposure to emerging market equities with a strategic tilt toward small-capitalization and value stocks, overweighting those factors relative to a market-capitalization-weighted benchmark while underweighting large-cap and growth stocks; it holds approximately 3,000 securities across diversified sectors including financials, technology, and consumer goods, with top exposures in countries such as China, Taiwan, India, South Korea, and Brazil. Launched on September 25, 2012, and domiciled in the United States, the fund is sponsored and managed by Northern Trust Investments, Inc., a subsidiary of Northern Trust Corporation, with headquarters in Chicago, Illinois, and an expense ratio of 0.57%. The Morningstar Emerging Markets Factor Tilt Index targets publicly traded companies in emerging markets as defined by Morningstar Global Markets, emphasizing broad diversification with 93% allocation to emerging equities, 52% large-cap, 20% mid-cap, and 27% small-cap holdings; key constituents include Taiwan Semiconductor Manufacturing Co., Alibaba Group Holding Ltd., Tencent Holdings Ltd., Reliance Industries Ltd., and Samsung Electronics Co. Ltd. The fund distributes dividends semi-annually or quarterly, offering a trailing 12-month yield of approximately 3.4%, and maintains assets under management around $290 million as of late 2025. It employs an optimized replication strategy without derivatives, focusing on public equity markets in regions like Asia-Pacific, Latin America, the Middle East, and Africa to capture potential performance advantages from factor tilts. No major structural changes, such as mergers, acquisitions, partnerships, funding rounds, new product launches, or reorganizations, have been announced for TLTE in the last 1-2 years; the fund continues stable operations amid FlexShares' ongoing portfolio of 27 ETFs totaling over $23 billion in assets. Recent performance highlights include a year-to-date return exceeding 25% and a 1-year return around 22% as of late 2025, reflecting strong emerging market momentum without alterations to its core index-tracking methodology or sponsor relationships. Investors access TLTE through major U.S. exchanges like NYSE Arca, targeting institutions and individuals seeking diversified emerging market exposure with factor-based enhancements.