---
ticker: "RAVI"
name: "Northern Trust Ultra-Short Fixed Income ETF"
url: "https://etf.net/etf/RAVI"
grade: "B"
score: 59
graded_at: "2026-10-12"
category: "Cash & Ultra-Short Income"
category_rank: "42 of 78"
methodology: "https://etf.net/methodology"
---

# RAVI: Northern Trust Ultra-Short Fixed Income ETF

Grade **B**, Score 59 of 100. Rank 42 of 78 in Cash & Ultra-Short Income.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 24 | 57 of 78 |
| Mission | 100 | 1 of 66 |
| Risk | 53 | 29 of 75 |
| Tradability | 52 | 34 of 78 |
| Holdings | 75 | 18 of 77 |
| Durability | 79 | 16 of 78 |

## Top holdings

The fund holds 279 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Cash | 3.22% |
| 2 | — | Walt Disney Co/The Notes Variable 14/MAR/2029 USD | 2.43% |
| 3 | — | Merck & Co Inc Notes Variable 15/MAR/2029 USD 1000 | 1.72% |
| 4 | — | Bank of America Corp Callable Notes Variable | 1.51% |
| 5 | — | Abbott Laboratories Notes Variable 09/MAR/2029 USD | 1.44% |
| 6 | — | AT&T Inc Callable Notes Fixed 3.8% 15/FEB/2027 USD | 1.43% |
| 7 | — | Ingersoll Rand Inc Callable Notes Fixed 5.197% | 1.25% |
| 8 | — | Royal Bank of Canada Callable Medium Term Note | 1.25% |
| 9 | — | Truist Bank Callable Notes Variable 27/JAN/2029 | 1.12% |
| 10 | — | Chevron Usa Inc Notes Variable 13/AUG/2028 USD | 1.08% |
| 11 | — | Sanofi SA Notes Variable 03/NOV/2028 USD 1000 | 1.05% |
| 12 | — | Amazon.com Inc Notes Variable 09/JUL/2029 USD 1000 | 0.94% |
| 13 | — | Reckitt Benckiser Treasury Services PLC Callable | 0.92% |
| 14 | — | Mizuho Financial Group Inc Callable Notes Variable | 0.90% |
| 15 | — | Australia & New Zealand Banking Group Ltd Medium | 0.90% |
| 16 | — | Toyota Motor Credit Corp Notes Variable | 0.87% |
| 17 | — | Macquarie Bank Ltd Notes Variable 12/JUN/2028 USD | 0.81% |
| 18 | — | Sanofi SA Notes Variable 03/NOV/2027 USD 1000 | 0.78% |
| 19 | — | Allstate Corp/The Callable Bond Fixed 3.28% | 0.77% |
| 20 | — | Pepsico Singapore Financing I Pte Ltd Notes | 0.76% |
| 21 | — | BlackRock Inc Callable Notes Fixed 4.6% | 0.76% |
| 22 | — | Truist Bank Callable Notes Variable 24/JUL/2028 | 0.75% |
| 23 | — | Exelon Corp Callable Notes Fixed 2.75% 15/MAR/2027 | 0.71% |
| 24 | — | American Honda Finance Corp Medium Term Note | 0.69% |
| 25 | — | AbbVie Inc Notes Variable 03/MAR/2028 USD 1000 | 0.69% |
| 26 | — | Broadcom Inc Callable Notes Fixed 4.8% 15/APR/2028 | 0.66% |
| 27 | — | Citigroup Inc Callable Notes Variable 04/MAR/2029 | 0.64% |
| 28 | — | Natwest Markets PLC Notes Variable 17/MAY/2027 USD | 0.64% |
| 29 | — | Westpac Banking Corp Medium Term Note Variable | 0.64% |
| 30 | — | Arthur J Gallagher & Co Callable Notes Fixed 4.6% | 0.63% |

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