The fund seeks income and capital appreciation by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in equity securities, including common stock and depositary receipts, issued by publicly listed companies in developed and emerging markets that exhibit superior value characteristics.

The team then seeks to identify countries with undervalued securities markets.

In selecting securities for the portfolio, the research team utilizes measures such as valuation multiples on the basis of sales, earnings, and enterprise multiple.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund’s portfolio seeks to limit its exposure to any single country outside the United States to 20% of its net assets.

At least 40% of the fund’s holdings are estimated to be composed of securities of issuers domiciled or principally traded in at least three countries (including the United States).

Additionally, the fund may also invest in U.S.-listed exchange traded funds to gain exposure to the equity markets and issuers of developed and emerging market countries.

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in stocks that have the potential for above-average long-term earnings and/or cash flow growth and meet the financial and environmental, social and governance (ESG) criteria.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team focuses on inefficiently priced companies.

The team favors companies with superior fundamentals, incentive-driven management teams, dominant positions in niche markets and/or goods and services that are in high customer demand.

The team also evaluates the company’s business model, financial structure and management acumen.

In addition, the team prefers companies demonstrating growth opportunities.

However, for large company growth stocks, the team seeks companies that exhibit superior balance sheets, exceptional management teams and long-term, consistent operating histories.

When considering small- and medium-sized company growth stocks, the team focuses on companies with rapid earnings growth potential, unrecognized values, industry leadership and management teams that have a significant ownership stake.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in common stocks issued by both United States and foreign companies, including countries with developed or emerging markets.

The team utilizes proprietary research to identify businesses that possess characteristics, such as proven management, a durable franchise and business model, and sustainable competitive advantages.

In selecting securities for the portfolio, the research team focuses on companies that are trading at a discount to their estimated intrinsic value.

In addition, the team routinely visits managers at their places of business in order to gain insight into the relative value of different businesses.

The fund invests significantly in issuers organized or located outside of the U.S., or whose primary trading market is located outside the U.S., or doing a substantial amount of business outside the U.S.

Also, the fund will invest in issuers representing at least three different countries. These non-U.S. company investments may include American Depositary Receipts and Global Depositary Receipts.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the exchange-traded funds that comprise the Index.

The Index is designed to provide targeted exposure to the five First Trust sector and industry-based ETFs and an ultra-short duration ETF, the First Trust Enhanced Short Maturity ETF.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the exchange-traded funds that comprise the Index.

The Index is designed to provide targeted exposure to the five First Trust sector-based ETFs that offer the greatest potential to outperform the other ETFs in the selection universe and that satisfy certain trading volume and liquidity requirements.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The fund is a fund of funds and invests primarily in the shares of other FlexShares ETFs (each an Underlying Fund and together, the Underlying Funds).

The Underlying Funds invest primarily in separate sets of securities representing or providing exposures to global real assets.

Examples of real assets include but are not limited to commodities, precious metals, oil, and real estate.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the securities of the Underlying Index.

Additionally, the research team employs a representative sampling strategy to invest in a representative sample of securities that collectively has an investment profile similar to the Underlying Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

In addition, the fund may also invest up to 20% of its assets in cash and cash equivalents, including shares of money market funds.

The fund may lend securities representing up to one-third of the value of its net assets.

Additionally, the fund is non-diversified and may invest more of its assets in fewer issuers than diversified funds.

The fund seeks capital appreciation by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund is a fund of funds.

Next, the research team invests in other unaffiliated ETFs primarily in domestic and foreign (including emerging markets) growth-oriented equity securities of any market capitalization and U.S. Treasuries or other cash equivalents.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund typically holds 6-7 ETFs in its portfolio.

The fund is generally 100% invested in growth-oriented equity ETFs when the investment models indicate a bullish trend for the equity market.

However, the fund is generally 50% invested in growth-oriented equity ETFs and 50% invested in U.S. Treasuries and/or U.S. short-term bonds to hedge risk when the models indicate a bearish trend for the equity markets.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

As part of its strategy, the fund employs a passive or indexing investment approach.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the component securities of the Global Equity Underlying Index and in depositary receipts representing such securities.

The Global Equity Underlying Index includes stocks from developed and emerging market countries that have favorable exposure to multiple investment style factors.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

Additionally, the fund employs a representative sampling strategy to select securities that collectively have an investment profile similar to that of the Global Equity Underlying Index.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Global Equity Underlying Index is concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index.

The Underlying Index is composed of large and mid-capitalization developed and emerging market equities.

The team utilizes a representative sampling indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index.

Also, the team evaluates companies based on factors such as market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield, and liquidity characteristics.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may or may not hold all of the securities in the Underlying Index.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest up to 20% of its net assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index.

The fund may lend securities representing up to one-third of the value of its net assets.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index.

The Underlying Index is composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets.

The team utilizes a representative sampling indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index.

Also, the team evaluates companies based on factors such as market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield, and liquidity characteristics.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may or may not hold all of the securities in the Underlying Index.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest up to 20% of its net assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index.

The fund may lend securities representing up to one-third of the value of its net assets.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index.

The Underlying Index is composed of large and mid-capitalization developed and emerging market stocks that have favorable exposure to target style factors subject to constraints.

The team utilizes a representative sampling indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index.

Also, the team evaluates companies based on factors such as market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield, and liquidity characteristics.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may or may not hold all of the securities in the Underlying Index.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest up to 20% of its net assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index.

The fund may lend securities representing up to one-third of the value of its net assets.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index.

The Underlying Index is composed exclusively of companies whose core business addresses at least one of the world’s major social and environmental challenges, as defined by the United Nations Sustainable Development Goals (UN SDGs).

Examples of sustainable impact categories within the UN SDGs include nutritious food, treatment of major diseases, sanitary products, education, affordable housing, energy efficiency, green building, sustainable water, and pollution prevention.

The team utilizes a representative sampling indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index.

Also, the team evaluates companies based on factors such as market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield, and liquidity characteristics.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may or may not hold all of the securities in the Underlying Index.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest up to 20% of its net assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index.

The fund may lend securities representing up to one-third of the value of its net assets.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in securities that comprise the Index.

The Index is intended to track the overall performance of attractively priced global companies with sustainable competitive advantages.

In selecting securities for the portfolio, the research team focuses on companies that are trading at a discount to their estimated intrinsic value.

The team focuses on companies that possess durable competitive advantages, or moats.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The process employs an indexing investment approach to track the performance of the FTSE Global All Cap Index.

Next, the research team invests in stocks of companies located in developed and emerging markets.

The Index is designed to measure the market performance of large-, mid-, and small-capitalization stocks of companies located around the world.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund attempts to sample the target index by investing all, or substantially all, of its net assets in common stocks in the Index.

In addition, the fund holds a representative sample of securities that resembles the full Index in terms of key risk factors and other characteristics.

These factors include industry weightings, country weightings, market capitalization, and other financial characteristics of stocks.