Northern Trust Ultra-Short Fixed Income ETF
The ETF.net RAVI Grade
B
Score 58 out of 100
- 43 of 78
Score 58 of 100 falls in the B 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.F18 out of 100Rank 62 of 78Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 67Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C53 out of 100Rank 28 of 75Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B55 out of 100Rank 31 of 78Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A77 out of 100Rank 15 of 77Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A78 out of 100Rank 17 of 78
Our read on RAVI
In short
BActive ultra-short bond investing since 2012, before most rivals existed: Northern Trust managers buying corporate, foreign and emerging-market paper, duration generally under a year. 0.25%, net of a waiver through March 1, 2027.
Stated mandate
RAVI seeks maximum current income while preserving capital and liquidity.
Why people hold it
Worth knowing
RAVI Holdings
- Bonds
- 285
- 16%
- Cash
Geography
- United States75.49%
- United Kingdom5.39%
- France4.42%
- Canada4.17%
- Australia3.10%
- Japan2.67%
- Cayman Islands1.17%
- Ireland0.94%
- 2.64%
Developed 95% · Emerging 5%
RAVI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
RAVI$10,381
Returns run to the Oct 30, 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.
| Period | RAVI |
|---|---|
| Year to date | +3.0% |
| 1 month | +0.4% |
| 3 months | +0.8% |
| 1 year | +3.8% |
| 3 years | +5.0% |
| 5 years | +3.8% |
| 10 years | +2.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | RAVI |
|---|---|---|
| 2026 YTD | +3.0% | |
| 2025 | +5.0% | |
| 2024 | +5.7% | |
| 2023 | +5.5% | |
| 2022 | +0.2% | |
| 2021 | 0.0% | |
| 2020 | +2.1% |
RAVI in the news
RAVI Dividends
- 4.22%
- $3.18
- $0.25 per share
- Monthly
RAVI Risk
- 0.4%
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.
- 1.17
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.
- −3.2%
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.
- 0.04
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.
RAVI Cost
Overpaying vs XHLF, tied cheapest in Cash & Ultra-Short Income
$4,521
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
RAVI 0.25%
$5,159
XHLF 0.03% Tied cheapest
$638
Cost over time
Year by year
| Year | RAVI | XHLF | Overpaying |
|---|---|---|---|
| 10 | $455 | $55 | $400 |
| 20 | $1,769 | $216 | $1,553 |
| 30 | $5,159 | $638 | $4,521 |
You pay 0.25%Waived by FlexShares 0.01%
Full fee 0.26% waiver 0.01% you pay 0.25%
Other funds in Cash & Ultra-Short Income
- BDLUXDoubleLine Ultrashort Income ETFExpense ratio 0.18%1 year return
- BULSTState Street Ultra Short Term Bond ETFExpense ratio 0.20%1 year return +3.3%
- BCSHPiShares Dynamic Short-Term Active ETFExpense ratio 0.20%1 year return +3.7%
- BPMMFiShares Prime Money Market ETFExpense ratio 0.20%1 year return +2.7%
- BGMMFiShares Government Money Market ETFExpense ratio 0.20%1 year return +2.6%
