FlexShares, the ETF unit of Chicago-based Northern Trust, filed regulatory paperwork with the Securities and Exchange Commission to market an international version of a U.S. small cap and value tilt ETF it launched in September of last year.
The new FlexShares Morningstar Developed ex-US Markets Factor Tilt Index Fund targets broad developed-markets equities, excluding those in the United States, with a slight tilt to small-capitalization and value stocks, giving it a cache that a straight market-cap weighted fund wouldn’t have.
FlexShares said in the filing the new ETF will trade on Arca, the New York Stock Exchange’s electronic trading platform, under the symbol TLTD. It