TLTD ETF: What Is It? — Returns, Expense Ratio, Holdings & Alternative ETFs
The FlexShares Developed Markets Factor Tilt ETF is a passive product that tilts non-US developed-market equities toward small-cap and value factors, combining international diversification and factor exposure. Expense ratio, currency exposure, and dividends are key checkpoints, comparison against broad developed-market ETFs is the selection criterion, and the trading ticker is TLTD.
SubscribeWhat Is the FlexShares Developed Markets Factor Tilt ETF?
It is a passive ETF that tracks a factor-tilt index that increases small-cap and value exposure in developed-market equities outside the United States. Compared with market-cap weighting, it tilts the portfolio toward smaller-cap and value names.
It is suited to diversified investors who want international diversification combined with small-cap and value factor exposure.
The ETF is managed by FlexShares on a passive (index-tracking) basis.
How to Invest in the FlexShares Developed Markets Factor Tilt ETF
| Item | Details |
|---|---|
| Tracking Index | Developed Markets Factor Tilt Index |
| Management Style | Passive (Factor Tilt) |
| Rebalancing Cycle | Periodic (per index rules) |
| Dividend Schedule | Quarterly |
| Total Expense Ratio | 0.39% |
Among developed-market equities outside the US, the ETF tilts weights toward names classified as small-cap and value beyond what market-cap weighting would deliver, while reducing exposure to large-cap and growth names. By layering small-cap and value factor exposure onto international diversification, it aims to behave differently from market-cap-weighted indices.
- Factor tilt adding small-cap and value weightings
- Developed-market diversification outside the US
Assets under management (AUM) stand at $660.0M, and the total expense ratio is 0.39% annually.
Because it carries heavier small-cap and value weightings than market-cap-weighted international ETFs, performance can diverge from the broader market depending on which factors are in favor.
Performance and Flows of the FlexShares Developed Markets Factor Tilt ETFInternational developed-market equities are shaped by country-level economic cycles, currency moves, and value-versus-growth style rotation. The ETF can outperform when small-cap and value factors are in favor, but lag during large-cap growth–led markets.
Money tends to flow into factor-tilt ETFs when demand for international diversification and small-cap/value factor exposure rises, while flows may shift toward broad developed-market ETFs during large-cap growth–led cycles.
Strengths and Weaknesses of the FlexShares Developed Markets Factor Tilt ETF
Layering small-cap and value factors onto international diversification is the key strength, while currency exposure, factor concentration, and volatility are the key risks.
💪 Core Strengths
⚠️ Watch-Outs
Alternative ETFs and Related Products to the FlexShares Developed Markets Factor Tilt ETF
The table's FNDF, GSIE, and GNR are ETFs pursuing different strategies such as fundamentals, active beta, or natural resources. For developed-market exposure outside the US, investors can also compare broad developed-market ETFs like VEA and EFA, or vehicles focused on international small-cap value such as AVDV. Differences in factor approach, market-cap range, and expense ratio mean choices should align with each investor's style.
Investor Checklist for the FlexShares Developed Markets Factor Tilt ETF
These are the checkpoints to review before investing in TLTD. As an international factor-tilt ETF, it is important to verify currency exposure, factor concentration, volatility, and expense level in advance.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee level of a passive factor ETF | Needs verification |
| 💱 Currency | Assess the impact of multi-currency fluctuations | Not currency-hedged |
| 📊 Factor Concentration | Confirm small-cap and value factor concentration | Concentration present |
| 📉 Volatility | Check volatility tied to small-cap weightings | Needs verification |
Multi-currency exposure can cause USD-converted returns to swing with exchange-rate moves, and the small-cap and value concentration may lead to relative underperformance during large-cap growth–led cycles. Volatility stemming from small-cap weightings should also be considered.
It is a passive ETF suited to diversified investors seeking international diversification combined with small-cap and value factor exposure. Investors looking for straightforward market-cap weighting may prefer broad developed-market ETFs, while those targeting small-cap and value factors may find TLTD a compelling option.
1-Year Price Performance
Dividend & Yield
52-Week Price RangeStrengths and Weaknesses of the FlexShares Developed Markets Factor Tilt ETF
Layering small-cap and value factors onto international diversification is the key strength, while currency exposure, factor concentration, and volatility are the key risks.
💪 Core Strengths
⚠️ Watch-Outs
Alternative ETFs and Related Products to the FlexShares Developed Markets Factor Tilt ETF
The table's FNDF, GSIE, and GNR are ETFs pursuing different strategies such as fundamentals, active beta, or natural resources. For developed-market exposure outside the US, investors can also compare broad developed-market ETFs like VEA and EFA, or vehicles focused on international small-cap value such as AVDV. Differences in factor approach, market-cap range, and expense ratio mean choices should align with each investor's style.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 FNDF | Schwab Fundamental International Equity ETF | $53.37 | -0.1% | $25.3B | 0.25% | 3.07% | +22.5% |
 IGF | iShares Global Infrastructure ETF | $62.29 | +0.3% | $10.3B | 0.37% | 3.1% | +0.7% |
 GUNR | Northern Trust Morningstar Global Upstream Natural Resources ETF | $53.60 | +1.1% | $6.9B | 0.46% | 2.3% | +21.6% |
 GSIE | Goldman Sachs ActiveBeta International Equity ETF | $45.44 | -0.2% | $5.8B | 0.25% | 2.66% | +9.8% |
 GNR | State Street SPDR S&P Global Natural Resources ETF | $75.08 | +1.3% | $5.1B | 0.40% | 2.43% | +25.9% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| ASML | ASML Holding NV | 0.02% | $1770.56 | -1.9% | $682.4B | 55.1 | 0.59% |
| HSBC | HSBC Holdings plc ADR | 0.02% | $92.61 | -1.2% | $317.5B | 13.3 | 4.5% |
 SHEH | Shell plc ADRhedged | 0.02% | $73.62 | +3.3% | $0.0M | - | 1.66% |
| TM | Toyota Motor Corp ADR | 0.01% | $186.00 | +1.7% | $220.3B | 8.2 | 3.52% |
| SAN | Banco Santander SA ADR | 0.01% | $13.48 | -1.3% | $196.1B | 10.6 | 2.25% |
 JULI | AllianzIM International Equity Buffer15 Uncapped Jul ETF | 0.01% | $24.66 | -0.3% | $0.0M | - | - |
Investor Checklist for the FlexShares Developed Markets Factor Tilt ETF
These are the checkpoints to review before investing in TLTD. As an international factor-tilt ETF, it is important to verify currency exposure, factor concentration, volatility, and expense level in advance.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee level of a passive factor ETF | Needs verification |
| 💱 Currency | Assess the impact of multi-currency fluctuations | Not currency-hedged |
| 📊 Factor Concentration | Confirm small-cap and value factor concentration | Concentration present |
| 📉 Volatility | Check volatility tied to small-cap weightings | Needs verification |
Multi-currency exposure can cause USD-converted returns to swing with exchange-rate moves, and the small-cap and value concentration may lead to relative underperformance during large-cap growth–led cycles. Volatility stemming from small-cap weightings should also be considered.
It is a passive ETF suited to diversified investors seeking international diversification combined with small-cap and value factor exposure. Investors looking for straightforward market-cap weighting may prefer broad developed-market ETFs, while those targeting small-cap and value factors may find TLTD a compelling option.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 4, 2026.
Today's 5 AI picks, all free