---
ticker: "TLTD"
name: "Northern Trust Morningstar Developed Markets ex-US Factor Tilt ETF"
url: "https://etf.net/etf/TLTD"
grade: "B"
score: 59
graded_at: "2026-10-12"
category: "International Factor Index"
category_rank: "7 of 15"
methodology: "https://etf.net/methodology"
---

# TLTD: Northern Trust Morningstar Developed Markets ex-US Factor Tilt ETF

Grade **B**, Score 59 of 100. Rank 7 of 15 in International Factor Index.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 39 | 9 of 15 |
| Mission | 100 | 1 of 9 |
| Risk | 50 | 8 of 15 |
| Tradability | 24 | 12 of 15 |
| Holdings | 88 | 2 of 15 |
| Durability | 57 | 8 of 15 |

## Top holdings

The fund holds 2276 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Cash | 1.60% |
| 2 | — | Msci Eafe Equity Index 18/DEC/2026 MFSZ6 Index | 1.34% |
| 3 | ASML.AS | Asml Holding NV Common Stock Eur 0.09 | 1.29% |
| 4 | HSBA.L | Hsbc Holdings PLC Common Stock Gbp 0.5 | 1.04% |
| 5 | SHEL.L | Shell PLC | 0.94% |
| 6 | SAN.MC | Banco Santander SA Common Stock Eur 0.5 | 0.65% |
| 7 | 7203.T | Toyota Motor Corp Common Stock Jpy | 0.61% |
| 8 | TTE.PA | Totalenergies SE Common Stock Eur 2.5 | 0.59% |
| 9 | ALV.DE | Allianz SE Common Stock Eur 0 | 0.57% |
| 10 | ROP.SW | Roche Holding AG Common Stock Chf 0.001 | 0.55% |
| 11 | NOVN.SW | Novartis AG Common Stock Chf 0.49 | 0.53% |
| 12 | 8316.T | Sumitomo Mitsui Financial Group Inc Common Stock | 0.50% |
| 13 | RY.TO | Royal Bank of Canada Common Stock Cad 0 | 0.50% |
| 14 | BBVA.MC | Banco Bilbao Vizcaya Argentaria SA Common Stock | 0.47% |
| 15 | AZN.L | Astrazeneca PLC Common Stock Gbp 0.25 | 0.47% |
| 16 | 8306.T | Mitsubishi Ufj Financial Group Inc Common Stock | 0.46% |
| 17 | NESN.SW | Nestle SA Common Stock Chf 0.1 | 0.42% |
| 18 | UCG.MI | Unicredit Spa Common Stock Eur 0 | 0.42% |
| 19 | BHP.AX | Bhp Group Ltd Common Stock Aud 0 | 0.41% |
| 20 | SHOP.TO | Shopify Inc Common Stock Cad | 0.41% |
| 21 | 8411.T | Mizuho Financial Group Inc Common Stock Jpy | 0.41% |
| 22 | SIE.DE | Siemens AG Common Stock Eur 0 | 0.41% |
| 23 | SAP.DE | Sap SE Common Stock Eur 0 | 0.40% |
| 24 | BATS.L | British American Tobacco PLC Common Stock Gbp 25 | 0.38% |
| 25 | BP.L | Bp PLC Common Stock Gbp 0.25 | 0.38% |
| 26 | 6857.T | Advantest Corp Common Stock Jpy | 0.37% |
| 27 | BNS.TO | Bank of Nova Scotia/The Common Stock Cad 0 | 0.36% |
| 28 | TD.TO | Toronto-Dominion Bank/The Common Stock | 0.36% |
| 29 | BNP.PA | Bnp Paribas SA Common Stock Eur 2 | 0.33% |
| 30 | ISP.MI | Intesa Sanpaolo Spa Common Stock Eur 0 | 0.33% |

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