FlexSharesInternationalDeveloped#171 of 521 by YTD

Northern Trust ESG & Climate Developed Markets ex-US Core ETFFEDM

S&P 500 Bucket avg Compare

$65.47+2.2%

+$1.42 · Nov 9 close

Buy

AUM: $85M
Fee: 0.16%
Yield: 2.8%

Bumpy · 1Y: 1.2×S&P
Volume: 1K
NAV: $64.16

What's insideAll 232 →

ASML.AS 2.6%RY.TO 1.8%NOVN.SW 1.7%SHEL.L 1.7%

52-week range2% below the high

$53.55$66.95

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	+2.2%	+1.0%	+2.8%	−0.7%	+13.2%	+19.0%	+64.5%	+45.2%	+49.6%
Peer average	+2.4%	+0.8%	+1.1%	−2.0%	+11.2%	+15.6%	+67.3%	+52.9%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

FEDM in One Breath

FEDM Among Developed ETFs

YTD

#1IDHQInvesco+29.3%$1.2B

#2PXFInvesco+19.6%$2.9B

#3IMFLInvesco+16.7%$1.1B

#4ICOWPacer+16.4%$1.8B

#5EFViShares+16.3%$31.0B

#6FDTSFirst Trust+16.2%$12.9M

#7RODMHartford+16.0%$1.6B

#8BBAXJ.P. Morgan+15.7%$6.8B

#19FEDMFlexShares+13.2%$85.0M

End-of-day Nov 10, 2026 · 56 Developed ETFs by YTD

$10,000 in FEDM

$10,000 in FEDM became

$14,517

In the S&P 500 (VOO)

$17,543

Total return, dividends in · Nov 1, 2021 – Nov 9, 2026 · S&P 500 uses VOO

FEDM’s Top Holdings

Today

ASML.ASAsml Eur 0.092.6%RY.TO1.8%NOVN.SW1.7%SHEL.L1.7%SAP.DE1.5%SIE.DE1.5%AZN.L1.4%CBA.AX1.3%ZURN.SW1.3%BBVA.MC1.2%SAN.PA1.2%REL.L1.2%

Financial ServicesIndustrialsTechnologyHealthcareConsumer DefensiveOther

FlexShares FEDM · 255 holdings · top 22 shown · tile size = share of the fund · as of Nov 9, 2026

What FEDM Holds

Today

Financial Services27.8%

RY.TO 1.8 · CBA.AX 1.3 · ZURN.SW 1.3 · BBVA.MC 1.2 · 8306.T 1.2 · CM.TO 1.1 · ALV.DE 1.1

Industrials16.4%

SIE.DE 1.5 · REL.L 1.2 · 8001.T 1.2 · SU.PA 1.1 · 6501.T 1.1 · CNR.TO 1.0 · LR.PA

Technology11.0%

ASML.AS 2.6 · SAP.DE 1.5 · 6857.T 1.1 · 6758.T · 6702.T · AMS.MC · 6762.T

Healthcare10.8%

NOVN.SW 1.7 · AZN.L 1.4 · SAN.PA 1.2 · 4502.T · UCB.BR · TEVA.TA · NOVO-B.CO

Consumer Defensive7.1%

NESN.SW 1.1 · OR.PA 1.0 · TSCO.L · DGE.L · WOW.AX · RKT.L · DOL.TO

Basic Materials6.3%

WPM.TO · GIVN.SW · SGO.PA · SIKA.SW · K.TO · AAL.L · NST.AX

Energy5.8%

SHEL.L 1.7 · ENB.TO 1.1 · REP.MC · TTE.PA · PPL.TO

FlexShares FEDM · share of the fund by sector · as of Nov 9, 2026

Asml’s Share of FEDM

Today

2.6%

$26 of every $1,000 in FEDM is Asml

Asml held by FEDM

$2.2M

Most Asml per dollar

EWN20.0%

FEZ8.8%

IDMO8.1%

EZU7.6%

FlexShares FEDM · each square = $10 of $1,000 · as of Nov 9, 2026

FEDM’s Share of Developed ETFs

Today

0.0%

of the $701B in 66 Developed ETFs

FEDM$85.0M0.0%

VEA$232B33.0%

IEFA$193B27.5%

63 others$277B39.5%

Developed ETF AUM · Nov 10, 2026

FEDM Fee per $100 vs Peers

Today

$0.16a year
per $100

$16 a year on $10,000

VEA$0.03

SPDW$0.03

IDEV$0.04

IEFA$0.07

FEDM$0.16

EFA$0.32

Expense ratio · Developed peers · Nov 10, 2026

Inside FEDM

255 holdings · as of Nov 9, 2026

FEDM

Northern Trust ESG & Climate Developed Markets ex-US Core ETF

Today

Financial Services27.8%RY.TOCBA.AXZURN.SBBVA.M24 more holdings19.9% of the fundIndustrials16.4%SIE.DEREL.LSU.PACNR.T6 moreTechnology11.0%ASML.ASAP.DE4 moreHealthcare10.8%NOVN.AZN.LSAN.PUCB.B5 moreConsumer Defensive7.1%NESN.OR.PATSCO.DGE.LWOW.ARKT.L1 moreBasic Materials6.3%WPM.TGIVN.3 moreEnergy5.8%SHEL.ENB.TREP.MConsumer Cyclical5.5%ITX.MCommunication Services4.7%DTE.DUtilities3.2%IBE.MENEL.

#	Ticker	Company	Weight ▼
1	ASML.AS	Asml EUR 0.09	2.55%
2	RY.TO	Royal Bank OF Canada CAD 0	1.85%
3	NOVN.SW	Novartis AG CHF 0.49	1.66%
4	SHEL.L	Shell	1.66%
5	SAP.DE	SAP SE EUR 0	1.49%
6	SIE.DE	Siemens AG EUR 0	1.45%
7	AZN.L	Astrazeneca GBP 0.25	1.43%
8	CBA.AX	Commonwealth Bank OF Australia AUD 0	1.28%
9	ZURN.SW	Zurich Insurance Group AG CHF 0.1	1.27%
10	BBVA.MC	Banco Bilbao Vizcaya Argentaria	1.25%

See all 232 holdings ↓

Financial ServicesIndustrialsTechnologyHealthcareConsumer DefensiveBasic MaterialsEnergyConsumer CyclicalCommunication ServicesUtilitiesReal Estate

FlexShares FEDM · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 27.4%

All FEDM Holdings

232 holdings · as of Nov 9, 2026

FEDM

FEDM’s Holdings

Today

#
1	ASML.ASAsml EUR 0.09	Technology	2.55%	$255.05	1,547	$2.2M
2	RY.TORoyal Bank OF Canada CAD 0	Financial Services	1.85%	$184.58	7,950	$1.6M
3	NOVN.SWNovartis AG CHF 0.49	Healthcare	1.66%	$166.47	8,904	$1.4M
4	SHEL.LShell	Energy	1.66%	$166.16	29K	$1.4M
5	SAP.DESAP SE EUR 0	Technology	1.49%	$149.20	5,512	$1.3M
6	SIE.DESiemens AG EUR 0	Industrials	1.45%	$145.38	4,293	$1.3M
7	—Cash	—	1.45%	$144.62	1.3M	$1.3M
8	AZN.LAstrazeneca GBP 0.25	Healthcare	1.43%	$143.23	6,678	$1.2M
9	CBA.AXCommonwealth Bank OF Australia AUD 0	Financial Services	1.28%	$127.97	9,646	$1.1M
10	ZURN.SWZurich Insurance Group AG CHF 0.1	Financial Services	1.27%	$126.69	1,431	$1.1M
11	BBVA.MCBanco Bilbao Vizcaya Argentaria	Financial Services	1.25%	$124.71	43K	$1.1M
12	—Msci Eafe Equity Index 18/dec/2026 Mfsz6 Index	—	1.23%	$123.30	7	$1.1M
13	SAN.PASanofi EUR 2	Healthcare	1.21%	$120.85	11K	$1.0M
14	REL.LRelx GBP 0.144397	Industrials	1.20%	$119.61	26K	$1.0M
15	6098.TRecruit JPY	Communication Services	1.19%	$118.84	9,600	$1.0M

FlexShares FEDM · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

FEDM

Northern Trust ESG & Climate Developed Markets ex-US Core ETF’s Peers

YTD


VEA	VanguardRead Desk	0.03%	+12.9%	+18.8%	$231.6B
IEFA	iSharesRead Desk	0.07%	+11.1%	+15.8%	$192.8B
EFA	iSharesRead Desk	0.32%	+11.0%	+15.6%	$77.7B
SPDW	SPDRRead Desk	0.03%	+13.4%	+18.9%	$40.1B
IDEV	iSharesRead Desk	0.04%	+11.4%	+16.8%	$34.3B
FEDM	FlexSharesThis fundRead Desk	0.16%	+13.2%	+19.0%	$85M

Developed peers · YTD and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put FEDM head to head with VEA →

VEA vs FEDM

YTD

VEAVanguard · DevelopedFEDMFlexShares · Developed

Year to date

+12.9%

+13.2%

FEDM wins+0.2 pts

Past year

+18.8%

+19.0%

FEDM wins+0.3 pts

Fee

0.03%

0.16%

VEA winslower fee

Yield

2.4%

2.8%

FEDM wins+0.4 pts

AUM

$232B

$85.0M

VEA2724.2× more

3–1FEDM wins

Vanguard VEA and FlexShares FEDM · year-to-date · as of Nov 10, 2026 · AUM not scored

FEDM vs VOO

YTD

FEDM · Northern Trust ESG & Climate Developed Markets ex-US Core

+13.2%

VOO · S&P 500

+11.3%

Gap

1.9 pts

FlexShares FEDM and Vanguard VOO · YTD total return · as of Nov 10, 2026

FEDM vs Its Peer Average

YTD

FEDMAvsBPeer average

1D+2.2%+2.4%

1M+2.8%+1.1%

3M−0.7%−2.0%

YTD+13.2%+11.2%

1Y+19.0%+15.6%

3Y+64.5%+67.3%

5Y+45.2%+52.9%

4–3FEDM wins

65 Developed peers · each row scaled to its leader

How Bumpy Is FEDM?

View

FEDM

How Bumpy

1.2×the S&P 500’s swings

CalmerBumpierS&P 1×FEDM

Calm rank among 7 developed funds#3

Other developed funds1.1× to 1.3×

FlexShares FEDM · daily swings over the past year vs the S&P 500

FEDM

Worst Drop

−11.9%from its Feb 25 high

Still below the high−1.8%

$10,000 at the high is now$9,820

FlexShares FEDM · fall from the highest close, past year

FEDM

On a Bad Day

0.9×the S&P 500’s fall

FEDM’s worst day: Tuesday, Mar 3

FEDM

−3.4%

S&P 500

−0.9%

Up days53 of every 100

S&P 500 up days52 of every 100

FlexShares FEDM · average move on days the S&P 500 fell

FEDM

Return for the Bumps

1Y#2 of 7 developed funds

#1EFViShares

most for the bumps

#2FEDMFlexShares

#3SPDWSPDR

#4IDEViShares

#5VEAVanguard

#6IEFAiShares

#7EFAiShares

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

FEDM

Cost

Today

$16a year per $10,000

VEA

SPDW

IDEV

IEFA

FEDM

$16

EFV

$31

EFA

$32

Expense ratio 0.16%, taken from the fund’s value

FEDM

Volatility & Beta

16.0%annual volatility

S&P 500 volatility13.7%

Downside volatility10.4%

Beta vs SPY0.86

Correlation vs SPY0.74

Beta rank, lowest first, of 7#2

Daily total returns × √252 · past 254 trading days

FEDM

Max Drawdown

−11.9%peak to trough

Peak closeFeb 25, 2026

Current drawdown−1.8%

Worst day−3.38% · Mar 3

Closing prices, dividends in

FEDM

Up / Down Capture

86%down capture vs SPY

Down days

86%

Up days

95%

S&P 500

100%

Up ÷ down capture1.10

Up days52.8% (S&P 52.4%)

Average daily move on SPY up days and down days

FEDM

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
EFV	1.39	2.15	15.2%	−10.9%	0.76	$31
FEDM	0.94	1.45	16.0%	−11.9%	0.86	$16
SPDW	0.84	1.24	18.1%	−11.5%	1.08	$3
IDEV	0.84	1.26	16.0%	−11.2%	0.94	$4
VEA	0.83	1.22	18.3%	−11.6%	1.09	$3
IEFA	0.75	1.14	16.5%	−11.5%	0.96	$7
EFA	0.74	1.12	16.5%	−11.4%	0.96	$32

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

FEDM

Trading

Today

+2.04%above its holdings’ value

Close$65.47

NAV$64.16

Fee per $10,000$16 a year

Avg. volume 30D2K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

FEDM

Fund Facts

Today

2021launched Sep 20

Tracks[…]

Exchange · CUSIPAMEX · 33939L597

StructureETF

Leverage1x

Cost on $10,000$16 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

FlexShares FEDM · fund facts · as of Nov 10, 2026

FEDM

Payouts by Year

$0.26per share, Sep 2026

Distribution yield2.8%

PaidEvery quarter

Latest ex-date · paidSep 18 · Sep 24, 2026

12 payouts added up$4.73 a share

FlexShares FEDM · distributions by ex-date · 2021–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$64.16

Premium / discount[…]

Median spread · 30D[…]

Volume today1K

Average volume · 30D2K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.16%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$16.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Sep 18, 2026	Sep 24, 2026	$0.26
Jun 18, 2026	Jun 25, 2026	$0.89
Mar 20, 2026	Mar 26, 2026	$0.16
Dec 19, 2025	Dec 26, 2025	$0.54
Sep 19, 2025	Sep 25, 2025	$0.26
Jun 20, 2025	Jun 26, 2025	$0.80
Mar 21, 2025	Mar 27, 2025	$0.15
Dec 20, 2024	Dec 27, 2024	$0.30
Sep 20, 2024	Sep 26, 2024	$0.29
Jun 21, 2024	Jun 27, 2024	$0.70
Mar 15, 2024	Mar 21, 2024	$0.12
Dec 15, 2023	Dec 21, 2023	$0.25

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