MERSOM

Municipal Employees' Retirement System of Michigan Portfolio holdings

AUM $8.31B
This Quarter Return
+1%
1 Year Return
+8.76%
3 Year Return
+28.77%
5 Year Return
+35.28%
10 Year Return
–
AUM
$7.9B
AUM Growth
+$7.9B
Cap. Flow
+$615M
Cap. Flow %
7.78%
Top 10 Hldgs %
74.71%
Holding
51
New
2
Increased
12
Reduced
5
Closed
5

Top Buys

1
SPTI icon
SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$270M
2
XBB icon
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$210M
3
VGK icon
Vanguard FTSE Europe ETF
VGK
$189M
4
QVML icon
Invesco S&P 500 QVM Multi-factor ETF
QVML
$126M
5
SPHY icon
SPDR Portfolio High Yield Bond ETF
SPHY
$109M

Top Sells

1
ISVL icon
iShares International Developed Small Cap Value Factor ETF
ISVL
$158M
2
EMHC icon
SPDR Bloomberg Emerging Markets USD Bond ETF
EMHC
$154M
3
EMB icon
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$138M
4
GATO
Gatos Silver, Inc.
GATO
$86.7M
5
MTBA icon
Simplify MBS ETF
MTBA
$38.1M

Sector Composition

1 Materials 0.6%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
QVML icon
1
Invesco S&P 500 QVM Multi-factor ETF
QVML
$1.38B
$1.14B 14.48% 34,132,010 +3,758,630 +12% +$126M
SPTI icon
2
SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$9.04B
$1.02B 12.98% 35,861,653 +9,437,321 +36% +$270M
IVV icon
3
iShares Core S&P 500 ETF
IVV
$662B
$815M 10.32% 1,450,762 +12,185 +0.8% +$6.85M
SPTS icon
4
SPDR Portfolio Short Term Treasury ETF
SPTS
$5.91B
$641M 8.12% 21,929,077 +126,031 +0.6% +$3.69M
VGK icon
5
Vanguard FTSE Europe ETF
VGK
$26.8B
$452M 5.72% 6,435,286 +2,692,667 +72% +$189M
SCHP icon
6
Schwab US TIPS ETF
SCHP
$13.9B
$441M 5.58% 16,401,227 +835,548 +5% +$22.5M
SPTL icon
7
SPDR Portfolio Long Term Treasury ETF
SPTL
$11.4B
$406M 5.14% 14,880,982 +3,190,578 +27% +$87M
IPAC icon
8
iShares Core MSCI Pacific ETF
IPAC
$1.86B
$399M 5.05% 6,404,807 – –
QVMM icon
9
Invesco QQQ Trust Series 1
QVMM
$368M
$321M 4.07% 11,882,576 +1,000,000 +9% +$27M
IEMG icon
10
iShares Core MSCI Emerging Markets ETF
IEMG
$102B
$258M 3.26% 4,773,111 – –
XBB icon
11
BondBloxx BB-Rated USD High Yield Corporate Bond ETF
XBB
$317M
$252M 3.19% 6,227,640 +5,189,823 +500% +$210M
IJH icon
12
iShares Core S&P Mid-Cap ETF
IJH
$100B
$213M 2.69% 3,645,909 +1,640,536 +82% +$95.7M
XEMD icon
13
BondBloxx JPMorgan USD Emerging Markets 1-10 Year Bond ETF
XEMD
$433M
$198M 2.51% 4,698,046 – –
QVMS icon
14
Invesco S&P SmallCap 600 QVM Multi-factor ETF
QVMS
$206M
$175M 2.22% 7,114,414 – –
SPHY icon
15
SPDR Portfolio High Yield Bond ETF
SPHY
$9.12B
$139M 1.77% 5,954,325 +4,666,949 +363% +$109M
BBEU icon
16
JPMorgan BetaBuilders Europe ETF
BBEU
$4.17B
$126M 1.6% 2,042,693 – –
MTBA icon
17
Simplify MBS ETF
MTBA
$1.43B
$119M 1.51% 2,378,493 -760,760 -24% -$38.1M
XONE icon
18
BondBloxx Bloomberg One Year Target Duration US Treasury ETF
XONE
$653M
$119M 1.5% 2,387,980 – –
PICK icon
19
iShares MSCI Global Metals & Mining Producers ETF
PICK
$820M
$109M 1.38% 3,032,992 – –
FLCA icon
20
Franklin FTSE Canada ETF
FLCA
$461M
$103M 1.31% 2,773,743 – –
RING icon
21
iShares MSCI Global Gold Miners ETF
RING
$1.91B
$73M 0.92% 1,901,911 – –
AG icon
22
First Majestic Silver
AG
$4.47B
$47.7M 0.6% +7,123,410 New +$47.7M
BBAX icon
23
JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF
BBAX
$5.46B
$44.3M 0.56% 910,009 – –
XFIV icon
24
BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
XFIV
$182M
$34.6M 0.44% 704,064 – –
XLE icon
25
Energy Select Sector SPDR Fund
XLE
$27.6B
$24.4M 0.31% 261,557 -130,878 -33% -$12.2M
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