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Launched

Northern Trust US Equity ETF

NOEQNYSE ArcaA

$29.980.00 (0.00%)

As of Oct 13, 2026, 9:46 AM

A75/ 100

Rank 10 of 127 in US Active Equity

A75/100Rank 10 of 127inUS Active Equity
Intraday session: flat, 1 prints from 29.98 to 29.98. Range 29.98 to 29.98. Use the arrow keys to read each point.29.0029.5030.5010 AM12 PM2 PM4 PM
Expense ratio
0.12%
Fund size
$909M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
401
Avg volume · 30D
0M sh
NAV per share
$30.00
52W range
low $24.64high $29.99
Launched

The ETF.net NOEQ Grade

Based on 5 of 6 pillars

A

Score 75 out of 100

Category
US Active Equity⁠
Rank
10 of 127
Six-pillar profile for NOEQ. Scores out of 100: Cost 98, Risk 97, Mission not scored, Tradability 35, Holdings 43, Durability 65. Strongest: Cost (98). Weakest: Tradability (35). Based on 5 of 6 pillars.

Score 75 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A98 out of 100
    Rank 3 of 127

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A97 out of 100
    Rank 1 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D35 out of 100
    Rank 94 of 127

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C43 out of 100
    Rank 90 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B65 out of 100
    Rank 45 of 127

Our read on NOEQ

ETF.net Research

AActive management at index-fund pricing: 0.12% a year for a broad slate of mid- and large-cap US stocks, run by Northern Trust's FlexShares. It launched in 2026, so the story here is the fee, not the track record.

Stated mandate

The Fund seeks long-term capital appreciation by investing primarily in equity securities of U.S. companies. It is actively managed and generally focuses on mid- and large-capitalization companies.

Why people hold it

  1. 010.12% a year is index-fund pricing on an actively run portfolio, matching the lowest fee among the strongest funds in its peer group (DFAU) and sitting far below the typical active US equity ETF.
  2. 02About 400 mid- and large-cap US names, so the manager's calls play out inside a diversified core rather than a handful of concentrated bets.
  3. 03Stands in the upper tier of a crowded field of hundreds of active US equity ETFs, with the low fee and a market-like risk profile doing most of the work.

Worth knowing

  1. 01Trading is thin, so spreads can run wider than in mega-cap index funds. Order size and timing matter more here than in the household-name giants.
  2. 02Launched in 2026, so the live record is short. And because the mandate is active, there is no published index to measure the portfolio against.
  3. 03Distributions arrive once or twice a year, not monthly, so it is not built as an income drip.

NOEQ Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
401
Top-10 weight
63%
Largest holding
VGT14.4%

Geography

  • United States99.58%
  • United Kingdom0.20%
  • Ireland0.13%
  • Bermuda0.03%
  • Switzerland0.02%
  • Canada0.02%
  • Puerto Rico0.01%
  • Sweden0.01%
The fund’s holdings, weight-ordered — page 1 of 27.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001VGTVanguard Information Technology Etf Etp USD14.37%1,032,896$131M14
002SPYState Street Spdr S&P 500 Etf Trust Etp USD 013.98%163,291$127M42
003GOOGAlphabet Inc-Cl C - Common Stock USD 0.0016.56%170,811$60M478
004AMZNAmazon.com Inc Common Stock USD 0.014.57%160,180$42M736
005XOMExxonmobil Holdings Corp Common Stock USD4.23%223,537$38M511
006JNJJohnson & Johnson Common Stock USD 13.96%136,668$36M528
007XLCState Street Communication Services Select Sector3.91%318,772$36M24
008CVXChevron Corp Common Stock USD 0.753.88%164,087$35M478
009LLYEli Lilly and Company3.57%27,447$32M583
010NVDANVIDIA Corp Common Stock USD 0.0013.51%140,927$32M847
011BABoeing Co/The Common Stock USD 53.01%144,262$27M303
012MRKMerck & Co Inc Common Stock USD 0.52.90%181,048$26M515
013AAPLApple Inc Common Stock USD 0.000012.89%77,035$26M715
014MSFTMicrosoft Corp Common Stock USD 0.000006252.33%39,154$21M815
015GEGeneral Electric Co2.14%62,991$19M405

Showing 1–15 of 401 holdings

NOEQ Performance

Launched Mar 20, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
NOEQ$10,396
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. NOEQ $10,396. SPY $10,332. Use the arrow keys to read each point.$9,603$10,031$10,458Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NOEQ. Periods over one year show the average yearly return.
PeriodNOEQ
Year to dateFund launched this year—
1 month+1.7%
3 months+4.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NOEQ
YearReturn barNOEQ
2026 YTD+19.0%

History from Mar 23, 2026

NOEQ in the news

Filtered to NOEQ · US Active Equity

NOEQ Dividends

Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 18, 2026 $0.05; Sep 18, 2026 $0.07. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 24, 2026$0.07
Jun 18, 2026Jun 25, 2026$0.05

NOEQ Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.82
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

NOEQ Cost

Expense ratio0.12%
  • The middle half of US Active Equity funds
  • Median 0.70%

2 of the 123 US Active Equity funds charge less.

NOEQ costs $12.00 a year on $10,000. The median US Active Equity fund costs $70.00.

Other funds in US Active Equity

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