ETF Evaluator: Northern Trust MstarDevMktsexUSFacTltETF (TLTD) Follow This ETF

Northern Trust MstarDevMktsexUSFacTltETF Overview

Northern Trust MstarDevMktsexUSFacTltETF (TLTD) is a passively managed International Equity Foreign Large Value exchange-traded fund (ETF). Northern Trust launched the ETF in 2012.

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar® Developed Markets ex-US Factor Tilt IndexSM. The underlying index is designed to reflect the performance of developed equity markets excluding the U.S. with increased exposure to size and value factors relative to the parent index a float-adjusted market-capitalization weighted index of companies incorporated in developed market countries, excluding the U.S. The fund will invest at least 80% of its total assets in the securities of the index and in ADRs and GDRs based on the securities in the underlying index.

About Northern Trust MstarDevMktsexUSFacTltETF (TLTD)

There are 3 members of the management team with an average tenure of 8.51 years: Robert Anstine (2013), Brendan Sullivan (2016) and Volter Bagriy (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: MSCI World ex USA NR USD index with a weighting of 100% and MSCI World Ex USA IMI NR USD index with a weighting of 100%. Northern Trust MstarDevMktsexUSFacTltETF has 2278 securities in its portfolio. The top 10 holdings constitute 7.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Northern Trust MstarDevMktsexUSFacTltETF is part of the Equity global asset class and is within the International Equity ETF group. Northern Trust MstarDevMktsexUSFacTltETF has 97.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.1% There is 97.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Northern Trust MstarDevMktsexUSFacTltETF has 1.5% of the portfolio in cash.

Assets Under Management

The fund has $693 million in total assets, which is below the $2 billion average for the Foreign Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

TLTD Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Northern Trust MstarDevMktsexUSFacTltETF expense ratio is below average compared to funds in the Foreign Large Value category. Northern Trust MstarDevMktsexUSFacTltETF has an expense ratio of 0.39%, which is 16% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Northern Trust MstarDevMktsexUSFacTltETF has a portfolio turnover rate of 13%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 44% for the Foreign Large Value category.

Recently, in the month of August 2026, Northern Trust MstarDevMktsexUSFacTltETF returned 3.5%, which earned it a grade of A, as the Foreign Large Value category had an average return of 1.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Northern Trust MstarDevMktsexUSFacTltETF has a trailing yield of 3.18%, which is below the 3.21% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Northern Trust MstarDevMktsexUSFacTltETF Grades

Year to date, the ETF has returned 15.3%, 1.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 25.2% over the past year (grade of D), 21.6% over the past three years (grade of D) and 11.0% per year over the past five years (grade of D) and 10.0% per year over the past 10 years (grade of C).

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