Northern Trust Ultra-Short Fixed Income ETF
$75.09+0.01 (+0.02%)
- 0.26%
- $1.6B
- +3.8%
- 4.23%
- 0.1M sh
- $75.05
- low $74.36high $75.65
The ETF.net RAVI Grade
B
Score 59 out of 100
- 42 of 78
Score 59 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.F24 out of 100Rank 57 of 78Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 66Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C53 out of 100Rank 29 of 75Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C52 out of 100Rank 34 of 78Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 18 of 77Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A79 out of 100Rank 16 of 78
Our read on RAVI
BNorthern Trust's hand-steered parking spot for cash you need soon: an active ultra-short bond fund that dials duration between three months and a year and roams into corporates, securitized paper and foreign debt. Running since 2012.
RAVI seeks maximum current income while preserving capital and liquidity.
Why people hold it
- Actively run, not index-pinned: the managers set average portfolio duration between 0.25 and one year based on their own rate outlook.flexshares.com
- Casts a wider net than a T-bill fund: government, corporate and mortgage or asset-backed paper, investment grade at purchase, across roughly 250 positions.flexshares.com
- A 2012 launch makes it a veteran of this category, and it has grown into a multi-billion-dollar fund that pays monthly.
Worth knowing
- At 0.26%, it sits toward the pricier end of ultra-short ETFs; index-based rivals like VUSB and SHV charge less. The fee buys the duration and credit calls.
- Not a money market fund. The share price floats, and holdings can include mortgage or asset-backed and emerging market debt, which add credit and prepayment risk.flexshares.com
- Non-diversified under the 1940 Act: it can hold more in fewer issuers than a diversified fund, and more than 25% in a single developed market.flexshares.com
RAVI Holdings
- Bonds
- 279
- 16%
- Cash
Geography
- United States72.76%
- United Kingdom6.35%
- France5.22%
- Canada4.05%
- Australia3.66%
- Japan3.16%
- Ireland1.69%
- Singapore0.89%
- 2.21%
Developed 99% · Emerging 1%
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$10,376
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.
| Period | RAVI |
|---|---|
| Year to date | +2.7% |
| 1 month | +0.2% |
| 3 months | +0.8% |
| 1 year | +3.8% |
| 3 years | +5.0% |
| 5 years | +3.7% |
| 10 years | +2.7% |
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 | +2.7% | |
| 2025 | +5.0% | |
| 2024 | +5.7% | |
| 2023 | +5.5% | |
| 2022 | +0.2% | |
| 2021 | 0.0% | |
| 2020 | +2.1% |
RAVI in the news
RAVI Dividends
- 4.23%
- $3.18
- $0.25 per share
- Monthly
Distribution history
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.
- 1.09
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.
RAVI Cost
0.26%
RAVI0.26%
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
60 of the 78 Cash & Ultra-Short Income funds charge less.
Other funds in Cash & Ultra-Short Income
- BULSTState Street Ultra Short Term Bond ETFExpense ratio 0.20%1 year return +3.1%
- BPMMFiShares Prime Money Market ETFExpense ratio 0.20%1 year return +2.8%
- BBUXXStrive Enhanced Income Short Maturity ETFExpense ratio 0.26%1 year return +3.8%
- BGMOCGMO Ultra-Short Income ETFExpense ratio 0.20%1 year return —
- BCSHPiShares Dynamic Short-Term Active ETFExpense ratio 0.20%1 year return +3.9%