Northern Trust Morningstar Developed Markets ex-US Factor Tilt ETF
$100.13+0.55 (+0.55%)
- 0.41%
- $659M
- +18.1%
- 3.34%
- 0M sh
- $99.79
- low $86.59high $105.60
The ETF.net TLTD Grade
B
Score 59 out of 100
- 7 of 15
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.D39 out of 100Rank 9 of 15Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 9Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 8 of 15Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F24 out of 100Rank 12 of 15Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A88 out of 100Rank 2 of 15Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B57 out of 100Rank 8 of 15
Our read on TLTD
BMost factor funds cut the market down to a narrow sleeve. TLTD keeps nearly all of developed ex-US, roughly 2,300 stocks, then leans the weights toward small caps and value and away from large growth.
The Fund seeks long-term capital appreciation through broad developed-markets equity exposure outside the United States, with an intentional tilt toward small-capitalization and value stocks.
Why people hold it
- A tilt, not a screen. It holds the broad developed ex-US market and overweights small-cap and value stocks while underweighting large and growth names.flexshares.com
- Roughly 2,300 stocks across developed markets outside the US, so no single name or sector drives the outcome.
- Running since 2012, and the portfolio has stayed closely aligned with its stated small-cap and value tilt, one of the cleaner implementations in its peer group.
- Pays quarterly, and FlexShares runs the same tilt method in US and emerging-market versions for investors who want it across regions.go.flexshares.com
Worth knowing
- At 0.41% it costs the same as the typical fund in its factor peer group, and cheaper options sit right next to it: QLVD at 0.15%, EFAV at 0.20%.
- Thinly traded next to the giant international index funds, so bid-ask spreads can be wider and large orders need more care.
- The small-cap and value lean means stretches where it moves differently from a plain cap-weighted developed-markets index, in both directions.flexshares.com
TLTD Holdings
- Stocks
- 2,276
- 9%
- Cash
Sectors
- Financials25.8%
- Industrials18.1%
- Consumer Discretionary10.6%
- Materials10.5%
- Technology7.3%
- Health Care6.2%
- Energy5.9%
- Consumer Staples5.2%
- Communication4.1%
- Real Estate3.5%
- Utilities3.0%
Geography
- Japan28.08%
- United Kingdom13.05%
- Canada10.19%
- France7.31%
- Germany6.10%
- Switzerland5.32%
- Australia5.20%
- Netherlands3.65%
- 21.10%
Developed 96% · Emerging 4%
TLTD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
TLTD$11,806
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 | TLTD |
|---|---|
| Year to date | +9.4% |
| 1 month | −4.1% |
| 3 months | +0.5% |
| 1 year | +18.1% |
| 3 years | +21.2% |
| 5 years | +10.5% |
| 10 years | +9.5% |
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 | TLTD |
|---|---|---|
| 2026 YTD | +9.4% | |
| 2025 | +39.7% | |
| 2024 | +4.8% | |
| 2023 | +17.2% | |
| 2022 | −13.7% | |
| 2021 | +12.9% | |
| 2020 | +4.2% |
TLTD in the news
TLTD Dividends
- 3.34%
- $3.32
- $0.42 per share
- Quarterly
Distribution history
TLTD Risk
- 12.3%
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.
- 1.30
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.
- −28.4%
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.
- 0.93
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TLTD Cost
0.41%
TLTD0.41%
- The middle half of International Factor Index funds
- Median 0.34%
8 of the 15 International Factor Index funds charge less.
Other funds in International Factor Index
- BIDMOInvesco S&P International Developed Momentum ETFExpense ratio 0.25%1 year return +18.3%
- BVDGVanguard Developed Markets ex US Growth Index ETFExpense ratio 0.08%1 year return —
- BIMTMiShares MSCI Intl Momentum Factor ETFExpense ratio 0.30%1 year return +16.7%
- BGMOIGMO International Value ETFExpense ratio 0.60%1 year return +30.7%
- CIQDGWisdomTree International Quality Dividend Growth FundExpense ratio 0.42%1 year return +9.5%