---
ticker: "FEDM"
name: "Northern Trust ESG & Climate Developed Markets ex-US Core ETF"
url: "https://etf.net/etf/FEDM"
grade: "B"
score: 67
graded_at: "2026-10-12"
category: "International ESG & Values Index"
category_rank: "6 of 18"
methodology: "https://etf.net/methodology"
---

# FEDM: Northern Trust ESG & Climate Developed Markets ex-US Core ETF

Grade **B**, Score 67 of 100. Rank 6 of 18 in International ESG & Values Index.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 82 | 4 of 18 |
| Mission | 89 | 10 of 15 |
| Risk | 45 | 14 of 18 |
| Tradability | 36 | 13 of 18 |
| Holdings | 59 | 10 of 18 |
| Durability | 40 | 16 of 18 |

## Top holdings

The fund holds 231 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | ASML.AS | Asml Holding NV Common Stock Eur 0.09 | 3.17% |
| 2 | RY.TO | Royal Bank of Canada Common Stock Cad 0 | 1.77% |
| 3 | SHEL.L | Shell PLC | 1.71% |
| 4 | 6857.T | Advantest Corp Common Stock Jpy | 1.65% |
| 5 | SIE.DE | Siemens AG Common Stock Eur 0 | 1.54% |
| 6 | NOVN.SW | Novartis AG Common Stock Chf 0.49 | 1.49% |
| 7 | SAP.DE | Sap SE Common Stock Eur 0 | 1.39% |
| 8 | 6501.T | Hitachi Ltd Common Stock Jpy | 1.38% |
| 9 | SU.PA | Schneider Electric SE Common Stock Eur 4 | 1.30% |
| 10 | BBVA.MC | Banco Bilbao Vizcaya Argentaria SA Common Stock | 1.29% |
| 11 | 6098.T | Recruit Holdings Co Ltd Common Stock Jpy | 1.27% |
| 12 | 8306.T | Mitsubishi Ufj Financial Group Inc Common Stock | 1.27% |
| 13 | — | Cash | 1.26% |
| 14 | AZN.L | Astrazeneca PLC Common Stock Gbp 0.25 | 1.23% |
| 15 | CBA.AX | Commonwealth Bank of Australia Common Stock Aud 0 | 1.18% |
| 16 | ZURN.SW | Zurich Insurance Group AG Common Stock Chf 0.1 | 1.15% |
| 17 | 8001.T | Itochu Corp Common Stock Jpy | 1.14% |
| 18 | — | Msci Eafe Equity Index 18/DEC/2026 MFSZ6 Index | 1.12% |
| 19 | ENB.TO | Enbridge Inc Common Stock Cad 0 | 1.12% |
| 20 | REL.L | Relx PLC Common Stock Gbp 0.144397 | 1.09% |
| 21 | CM.TO | Canadian Imperial Bank of Commerce Common Stock | 1.08% |
| 22 | ISP.MI | Intesa Sanpaolo Spa Common Stock Eur 0 | 1.07% |
| 23 | SAN.PA | Sanofi SA Common Stock Eur 2 | 1.04% |
| 24 | MFC.TO | Manulife Financial Corp Common Stock Cad 0 | 1.02% |
| 25 | ALV.DE | Allianz SE Common Stock Eur 0 | 1.00% |
| 26 | NESN.SW | Nestle SA Common Stock Chf 0.1 | 0.99% |
| 27 | SAN.MC | Banco Santander SA Common Stock Eur 0.5 | 0.99% |
| 28 | CNR.TO | Canadian National Railway Co Common Stock Cad 0 | 0.96% |
| 29 | 6702.T | Fujitsu Ltd Common Stock Jpy | 0.94% |
| 30 | WPM.TO | Wheaton Precious Metals Corp | 0.93% |

Source: etf.net, https://etf.net/etf/FEDM. Please cite the page URL.