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Launched

Northern Trust US Equity ETF

NOEQNYSE ArcaFlexSharesA

$29.45+0.16 (+0.55%) past 5 days

At close: Oct 29, 2026, 4:00 PM ET

A75/ 100

Rank 12 of 126 in US Active Equity

A75/100Rank 12 of 126inUS Active Equity
5D price: up, 5 points from 29.29 to 29.45. Range 29.17 to 29.59. Use the arrow keys to read each point.29.2029.3029.4029.5029.60
Market opens at 9:30 AM ET.
Expense ratio
0.12%
Fund size
$875M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
410
Avg volume · 30D
103 sh
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
12 of 126
Six-pillar profile for NOEQ. Scores out of 100: Cost 97, Risk 94, Mission not scored, Tradability 36, Holdings 44, Durability 65. Strongest: Cost (97). Weakest: Tradability (36). 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.
    A97 out of 100
    Rank 4 of 126

  • 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.
    A94 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.
    D36 out of 100
    Rank 88 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C44 out of 100
    Rank 87 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 126

Our read on NOEQ

ETF.net Research

In short

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

  • 0.12% 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.
  • About 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.
  • Stands 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

  • Trading 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.
  • Launched in 2026, so the live record is short. And because the mandate is active, there is no published index to measure the portfolio against.
  • Distributions arrive once or twice a year, not monthly, so it is not built as an income drip.

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$10,484
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,573
Jul 29, 2026 to Oct 29, 2026. NOEQ $10,484. SPY $10,573. Use the arrow keys to read each point.$10,000$10,250$10,500$10,750Jul 2026Sep 2026Oct 2026

Jul 29, 2026 – Oct 29, 2026

Returns run to the Oct 29, 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 yearNo data
1 month−0.2%
3 months+4.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+16.9%

History from Mar 23, 2026

NOEQ in the news

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

Risk pillarA94 out of 100Rank 1 of 126 in US Active Equity
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.

FMP measures it over up to five years of monthly returns.

NOEQ Cost

Compare NOEQ and TACU

Overpaying vs TACU, cheapest in US Active Equity

$2,520

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NOEQ 0.12%

    $2,520

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • NOEQ 0.12%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K051015202530NOEQ $2,520TACU $0

Year by year

YearNOEQTACUOverpaying
10$220$0$220
20$859$0$859
30$2,520$0$2,520

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