ETF Evaluator:
FlexShares ESG&Clmt Invm Grd Corp Cr Idx ()
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(as of Aug 26)
Best Performing in Corporate Bond Over the Last Year
| 4.6% | Pacer US Cash Cows Bond ETF (MILK) |
| 3.8% | PGIM Corporate Bond 0-5 Year ETF (PCS) |
| 3.6% | Hilton BDC Corporate Bond ETF (HBDC) |
| 3.5% | iShares Invm Grd Crp Bd Buywrt Stgy ETF (LQDW) |
| 3.3% | State Street SPDR Port ItmtTermCorpBdETF (SPIB) |
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ETF Details
FlexShares ESG&Clmt Invm Grd Corp Cr Idx Overview
FlexShares ESG&Clmt Invm Grd Corp Cr Idx (FEIG) is a passively managed Taxable Bond Corporate Bond exchange-traded fund (ETF). Flexshares Trust launched the ETF in 2021.
The investment seeks results that correspond generally to the price and yield performance of the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core IndexSM.
The underlying index, administered by the index provider, is designed to reflect the performance of a selection of U.S.-dollar-denominated corporate bonds issued by companies that exhibit certain ESG characteristics in the aggregate, while also seeking to provide exposure to U.S. dollar-denominated corporate bonds, i.e., the constituents in the the eligible universe. Under normal circumstances, the fund will invest at least 80% of its total assets in the securities of the underlying index.
About FlexShares ESG&Clmt Invm Grd Corp Cr Idx (FEIG)
There are 3 members of the management team with an average tenure of 2.67 years: David Alongi (2024), Michael Chico (2023) and Mousumi Chinara (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Corp Bond TR USD index with a weighting of 100%. FlexShares ESG&Clmt Invm Grd Corp Cr Idx has 746 securities in its portfolio. The top 10 holdings constitute 7.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
FlexShares ESG&Clmt Invm Grd Corp Cr Idx is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. FlexShares ESG&Clmt Invm Grd Corp Cr Idx has 15.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.3% (81.1% domestic bond, 15.3% foreign bond and 0.2% convertible bond). FlexShares ESG&Clmt Invm Grd Corp Cr Idx has 3.5% of the portfolio in cash.
Assets Under Management
The fund has $47 million in total assets, which is below the $3 billion average for the Corporate Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FEIG Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The FlexShares ESG&Clmt Invm Grd Corp Cr Idx expense ratio is low compared to funds in the Corporate Bond category. FlexShares ESG&Clmt Invm Grd Corp Cr Idx has an expense ratio of 0.12%, which is 51% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. FlexShares ESG&Clmt Invm Grd Corp Cr Idx has a portfolio turnover rate of 39%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 58% for the Corporate Bond category.
Recently, in the month of July 2026, FlexShares ESG&Clmt Invm Grd Corp Cr Idx returned -1.7%, which earned it a grade of D, as the Corporate Bond category had an average return of -1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
FlexShares ESG&Clmt Invm Grd Corp Cr Idx has a trailing yield of 4.82%, which is below the 5.07% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
FlexShares ESG&Clmt Invm Grd Corp Cr Idx Grades
Year to date, the ETF has returned -1.1%, 0.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.1% over the past year (grade of D) and 4.3% over the past three years (grade of F).
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FEIG Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FEIG Return (NAV) | -1.7% | -0.9% | 2.1% | 4.3% | na | na |
| FEIG Return (Price) | -1.9% | -1.2% | 2.1% | 4.2% | na | na |
| NAV +/- Price Return | 0.160% | 0.249% | 0.009% | 0.067% | na | na |
| Corporate Bond Avg | -1.4% | -0.6% | 2.6% | 4.8% | 0.1% | 2.3% |
| FEIG Grade (NAV) | D | F | D | F | na | na |
| +/- Category (NAV) | -0.3% | -0.3% | -0.5% | -0.5% | na | na |
| FEIG Tax-Cost Ratio | na | na | 1.9% | 1.9% | na | na |
FEIG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FEIG Return (NAV) | -1.1% | 7.4% | 2.0% | 8.6% | -16.3% | na | na | na | na | na | na |
| FEIG Return (Price) | -1.3% | 7.5% | 1.7% | 8.6% | -15.9% | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.169% | 0.015% | -0.128% | -0.004% | -0.025% | na | na | na | na | na | na |
| Corporate Bond Avg | -0.6% | 7.8% | 2.8% | 8.3% | -14.8% | -0.9% | 9.6% | 13.5% | -2.0% | 5.2% | 5.0% |
| FEIG Grade (NAV) | F | F | F | C | F | na | na | na | na | na | na |
| +/- Category | -0.5% | -0.4% | -0.8% | 0.3% | -1.6% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.11 |
| R-Squared: | 96% |
| Standard Deviation: | 6.4% |
| Category Risk Index: | 1.09 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.52 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.8% |
| Total Assets: | $ 48 Mil |
| Share Class Assets: | $ 48 Mil |
| Turnover: | 39.0% |
| Expense Ratio: | 0.12% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.0 years | |||
| Average Tenure: 2.7 years | |||
| Managers (Year): Chico Michael (2023), Chinara Mousumi (2023), Alongi David (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 746 |
| % in Top 10 Holdings: | 7.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 15.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 81.1% |
| Foreign Bond: | 15.3% |
| Convertible Bond: | 0.2% |
| Other: | 0.0% |
| Cash: | 3.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Flexshares Trust |
| Phone Number: | 855-353-9383 |
| Website: | www.flexshares.com |
| Inception Date: | September 20, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.12% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.25% |
