In the exchange traded fund market, dominated by first movers, Northern Trust’s suite of FlexShares ETFs has reached the $1 billion in assets milestone in just ten months.
“Passing the $1 billion mark is an important milestone for us and affirms that our focus on distinctive products is valued by investors,” Shundrawn Thomas, head of Northern Trust’s Exchange Traded Funds Group, said in a press release.
The FlexShares line of ETFs are based on Morningstar indices.
- FlexShares Morningstar Global Upstream Natural Resources Index Fund (NSYEArca: GUNR) started trading on Sept. 16, 2011. The fund provides exposure to the “upstream” portion of the natural resources supply chain, which includes global companies involved in metals, energy, agriculture, timberland and water resources. GUNR has $381.6 million in assets and a 0.48% expense ratio.
- FlexShares Morningstar U.S. Market Factor Tilt Index Fund (NSYEArca: TILT) started trading on Sept. 16, 2011. The fund follows the broad U.S. stock market but leans toward long-term growth found in small-cap and value stocks. TILT has $97.7 million in assets and a 0.27% expense ratio.
- FlexShares iBoxx 3-Year Target Duration TIPS (NSYEArca: TDTT) tries to reflect the performance of Treasury Inflation Protection Securities with a 3-year target duration. TIPS are indexed to inflation and their value rises along with increases in inflation, as measured by the Consumer Price Index. TDTT has $326.7 million in assets and a 0.20% expense ratio.
- FlexShares iBoxx 5-Year Target Duration TIPS Index Funds (NSYEArca: TDTF) tracks 5-year TIPS. The fund has $206.0 million in assets and a 0.20% expense ratio.
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Max Chen contributed to this article.