- ISIN
- US33939L8037
- CUSIP
- 33939L803
- Issuer
- Northern Trust
- Inception Date
- Sep 28, 2012
- Region
- Developed Markets (Broad)
- Category
- Global Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Morningstar Developed Markets ex-US Factor Tilt Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $671M
Share Price Chart
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Performance
TLTD Performance Chart
FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) is up 6.7% since the beginning of the year. TLTD is currently trading at $99 per share. Investors who bought $1,000 worth of TLTD shares 5 years ago would now be looking at an investment worth $1,549.
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Returns By Period
FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) has returned 6.70% so far this year and 24.35% over the past 12 months.
FlexShares Morningstar Developed Markets ex-US Factor Tilt
- 1D
- -2.26%
- 1M
- -2.59%
- YTD
- 6.70%
- 6M
- 9.88%
- 1Y
- 24.35%
- 3Y*
- 19.06%
- 5Y*
- 9.15%
- 10Y*
- 9.15%
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLTD Monthly Returns History
Based on dividend-adjusted daily data since Oct 2, 2012, TLTD's average daily return is +0.04%, while the average monthly return is +0.75%. At this rate, an investment would double in approximately 7.7 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2020 with a return of +15.6%, while the worst month was Mar 2020 at -17.9%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TLTD closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +7.4%, while the worst single day was Mar 12, 2020 at -10.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.13% | 5.30% | -8.32% | 6.16% | 1.74% | -2.68% | 6.70% | ||||||
| 2025 | 3.65% | 2.92% | 2.11% | 4.05% | 4.76% | 3.83% | -0.88% | 5.26% | 2.41% | 0.42% | 2.28% | 3.25% | 39.69% |
| 2024 | -1.24% | 2.06% | 4.31% | -2.68% | 4.66% | -2.64% | 3.66% | 2.49% | 1.46% | -5.20% | 0.89% | -2.52% | 4.78% |
| 2023 | 8.92% | -3.20% | 1.49% | 2.45% | -4.42% | 4.43% | 4.05% | -3.60% | -3.45% | -3.15% | 7.79% | 5.95% | 17.19% |
| 2022 | -2.70% | -2.56% | -0.08% | -6.63% | 2.03% | -9.42% | 5.12% | -5.18% | -9.59% | 5.22% | 12.36% | -0.96% | -13.74% |
| 2021 | -0.64% | 3.86% | 3.04% | 2.90% | 3.75% | -1.37% | 0.24% | 1.56% | -2.96% | 2.92% | -5.38% | 4.77% | 12.84% |
Benchmark Metrics
FlexShares Morningstar Developed Markets ex-US Factor Tilt has an annualized alpha of 2.86%, beta of 0.92, and R2 of 0.58 versus S&P 500 Index. Calculated based on daily prices since October 03, 2012.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (80.08%) than losses (37.52%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 2.86% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.92 and R2 of 0.58, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.86%
- Beta
- 0.92
- R²
- 0.58
- Upside Capture
- 80.08%
- Downside Capture
- 37.52%
Expense Ratio
TLTD has an expense ratio of 0.39%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TLTD ranks 51 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) and compare them to S&P 500 Index.
| TLTD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | — | — |
| Martin ratioReturn relative to average drawdown | 7.71 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
FlexShares Morningstar Developed Markets ex-US Factor Tilt provided a 3.13% dividend yield over the last twelve months, with an annual payout of $3.09 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.09 | $3.19 | $2.67 | $2.32 | $1.67 | $2.48 | $1.35 | $2.24 | $1.76 | $1.88 | $1.65 | $1.41 |
Dividend yield | 3.13% | 3.44% | 3.88% | 3.39% | 2.76% | 3.44% | 2.04% | 3.46% | 3.16% | 2.71% | 2.93% | 2.56% |
Monthly Dividends
The table displays the monthly dividend distributions for FlexShares Morningstar Developed Markets ex-US Factor Tilt. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.00 | $0.13 | ||||||
| 2025 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $1.18 | $0.00 | $0.00 | $0.44 | $0.00 | $0.00 | $1.34 | $3.19 |
| 2024 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $1.15 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $1.02 | $2.67 |
| 2023 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $1.01 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.87 | $2.32 |
| 2022 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $1.05 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.17 | $1.67 |
| 2021 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.72 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $1.24 | $2.48 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the FlexShares Morningstar Developed Markets ex-US Factor Tilt. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the FlexShares Morningstar Developed Markets ex-US Factor Tilt was 40.62%, occurring on Mar 23, 2020. Recovery took 200 trading sessions.
The current FlexShares Morningstar Developed Markets ex-US Factor Tilt drawdown is 3.93%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -40.62%Mar 2020 | 2y 1mo | 9mo 19d | 2y 11moJan 2018 - Jan 2021 |
Bear market2022 | -28.96%Oct 2022 | 1y 1mo | 1y 4mo | 2y 5moSep 2021 - Mar 2024 |
2016 bear market2016 | -24.88%Feb 2016 | 1y 7mo | 1y 2mo | 2y 9moJul 2014 - Apr 2017 |
2025 selloff2025 | -13.10%Apr 2025 | 19d | 20d | 1mo 9dMar 2025 - Apr 2025 |
2026 correction2026 | -12.11%Mar 2026 | 21d | — | 3mo 9dFeb 2026 - now |
Drawdown Indicators
| TLTD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.62% | -9.10% | -31.52% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -13.10% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.62% | — | — |
Current DrawdownCurrent decline from peak | -3.93% | -2.97% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -7.68% | -1.13% | -6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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