ASET
FlexShares Real Assets Allocation Index Fund
FlexShares Trust
ETFIndex fundFund of funds
Expense ratio1
0.49%
Net assets2
$7.25M
Holdings2
3
Category
Other
2024 return3
0.66%

Investment objective & strategy

As of July 3, 2025 · prospectus

Objective. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Real Assets Allocation Index SM (the Underlying Index).

Strategy. The Fund is a fund of funds and seeks its investment objective by investing primarily in the shares of other FlexShares ETFs (each an Underlying Fund and together, the Underlying Funds) that are eligible for inclusion in the Underlying Index and listed below, rather than in securities of individual companies. The Underlying Funds themselves seek investment results corresponding to their own respective underlying indexes. The Underlying Funds invest primarily in separate sets of securities representing or providing exposures to global real assets. Real assets are defined by NTI, acting in its capacity as index provider (the Index Provider), as physical or tangible assets. Examples of real assets include but are not limited to commodities, precious metals, oil, and real estate. … The Fund is a fund of funds and seeks its investment objective by investing primarily in the shares of other FlexShares ETFs (each an Underlying Fund and together, the Underlying Funds) that are eligible for inclusion in the Underlying Index and listed below, rather than in securities of individual companies. The Underlying Funds themselves seek investment results corresponding to their own respective underlying indexes. The Underlying Funds invest primarily in separate sets of securities representing or providing exposures to global real assets. Real assets are defined by NTI, acting in its capacity as index provider (the Index Provider), as physical or tangible assets. Examples of real assets include but are not limited to commodities, precious metals, oil, and real estate. Each Underlying Fund has its own risk profile and will contribute differently to the overall risk profile of the Fund. Each of the Underlying Funds invests in equity securities that are traded in or are issued by companies domiciled in global developed or emerging markets (including the U.S.). Certain of the Underlying Funds may invest in publicly-traded units of master limited partnerships (MLPs) and real estate investment trusts (REITs). The Underlying Index is designed to reflect the performance of an optimized allocation to the Underlying Funds that is intended to provide exposures to certain real assets and minimize overall volatility of investment in the Underlying Funds. As of December 31, 2024, the Underlying Index was comprised of the following Underlying Funds, each of which invests primarily in equity securities: a 50.05% weight to FlexShares STOXX Global Broad Infrastructure Index Fund, a 9.76% weight to FlexShares Morningstar Global Upstream Natural Resources Index Fund and a 40.19% weight to FlexShares Global Quality Real Estate Index Fund. The Underlying Index was constituted and is rebalanced at least annually using a rules-based methodology. The Underlying Index may be rebalanced semi-annually if the volatility of investment in the Underlying Funds surpasses a minimum threshold. The weights of each Underlying Fund, and the degree to which each Underlying Fund represents exposure to certain real assets, may change over time as the Underlying Index and the underlying indexes of the Underlying Funds are reconstituted and/or rebalanced (which may be quarterly) and their component securities fluctuate in value. The Fund generally reconstitutes and/or rebalances its portfolio in accordance with the Underlying Index. NTI uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to beat the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. NTI generally intends to replicate the constituent securities of the Funds Underlying Index. Replication is an indexing strategy in which a fund invests in substantially all of the securities in its underlying index in approximately the same proportions as in the underlying index. NTI may use a representative sampling strategy in certain circumstances, such as when it may not be possible or practicable to fully implement a replication strategy. Representative sampling is investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index. Under normal circumstances, the Fund will invest at least 80% of its total assets (exclusive of collateral held from securities lending) in the securities of the Underlying Index. The Fund may also invest up to 20% of its assets in cash and cash equivalents, including shares of money market funds advised by NTI or its affiliates, futures contracts and options on futures contracts, as well as securities not included in the Underlying Index, but which NTI believes will help the Fund track its Underlying Index. The Underlying Index is created and sponsored by NTI. NTI also serves as the investment adviser to the Fund and the Underlying Funds. NTI, as the Index Provider, determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index. The Fund may lend securities representing up to one-third of the value of the Funds 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 countries or geographic regions. Industry Concentration Policy . The Fund will concentrate its investments ( i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. As of December 31, 2024, the Underlying Index was concentrated in real assets-related companies in the real estate, natural resources and infrastructure sectors. The components of the Underlying Index, and the degree to which these components represent certain industries or sectors, may change over time.

Top holdings

As of July 31, 2025 · N-PORT

Allocation by sector

As of July 31, 2025 · N-PORT
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Portfolio moves

Apr 30, 2025 → Jul 31, 2025
Opened
0
Exited
0
Increased
2
Decreased
1
Unchanged
0

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Advisers

As of October 31, 2024 · N-CEN
FirmRole
NORTHERN TRUST INVESTMENTS, INC. Adviser

Footnotes

  1. Expense ratio as of July 3, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of July 31, 2025, from the fund's N-PORT filing.
  3. Total return for calendar year 2024, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.

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