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FTSM vs RAVI: Differences, Returns & Fees

On Jul 31, 2026 FTSM's duration was 0.7 years and RAVI's 0.5; RAVI charges 0.25% to FTSM's 0.29%. Net assets: $6.7bn on Oct 20, 2026 for First Trust Enhanced Short Maturity ETF, and $1.5bn on Jul 31, 2026 for Northern Trust Ultra-Short Fixed Income ETF.

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Answers cite the figures on this page.

RAVI costs 0.04 points a year less; their one-year returns differ by 0.4 points; FTSM is 4.4 times larger.

FTSM vs RAVI: Differences, Returns & Fees
FTSMRAVI
Expense ratio0.29%0.25%
Net assets, as of Jul 31, 2026$6.5bn$1.5bn
Total return, 1 year+3.4%+3.8%
What it tracksNo index, actively managedNo index, actively managed
Holdings in commonnot published
+3.4%
FTSM total return, 1 year
+3.8%
RAVI total return, 1 year
0.29%
FTSM expense ratio
0.25%
RAVI expense ratio

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Client brief · page 1 of 2Report BR-FAFDA30E6A

FTSM and RAVI are built for the same job. How do they differ in cost, holdings and results?

  1. Number of holdings. FTSM holds 740 positions and RAVI holds 244.
  2. Size. FTSM has $6.5bn in net assets and RAVI $1.5bn (net assets, as of Jul 31, 2026); FTSM is 4.3 times larger.
  3. What each follows (similar). Both follow No index, actively managed.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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On the same fields

FTSM
First Trust Enhanced Short Maturity ETF
RAVI
Northern Trust Ultra-Short Fixed Income ETF
Where it sits Bond ETF Bond ETF
Issuer First Trust Northern Trust
What it is Actively managed Actively managed
Total return, 1 year +3.4% +3.8%
Its benchmark over the same days −1.9% (AGG) not measured
Gap to its benchmark +5.4 pts vs AGG not measured
Expense ratio 0.29% 0.25%
Holdings 740 244
Net assets, FTSM as of Oct 20, 2026 and RAVI as of Jul 31, 2026 $6.7bn $1.5bn

FTSM and RAVI on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About FTSM

FTSM is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.4% with distributions reinvested, against −1.9% for its benchmark, the Bloomberg US Aggregate Bond Index. The prospectus expense ratio is 0.29% a year.

About RAVI

RAVI is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.8% with distributions reinvested. The prospectus expense ratio is 0.25% a year.

Questions people ask

Which returned more over the last year, FTSM or RAVI?
In the year to Oct 20, 2026, with distributions reinvested, FTSM returned +3.4% and RAVI +3.8%.
Which is cheaper, FTSM or RAVI?
RAVI is cheaper, by 0.04 percentage points a year. That is about $4 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FTSM vs YEARFTSM vs GSSTFTSM vs VGUSFTSM vs IBTGRAVI vs SHVJPST vs RAVIRAVI vs SGOVRAVI vs TFLO
FTSM on its own →RAVI on its own →Hold both: look the portfolio through →Rankings →FTSM dividend history →FTSM holdings →RAVI dividend history →RAVI holdings →Standards and sources →
Where these figures came from
FTSM filings on SEC EDGAR ↗FTSM prospectus with the expense ratio (SEC) ↗First Trust page for FTSM ↗RAVI filings on SEC EDGAR ↗RAVI prospectus with the expense ratio (SEC) ↗Northern Trust website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

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ETFIQ, FTSM against RAVI, data as of Oct 20, 2026. https://etfiq.com/compare/any/ftsm-vs-ravi

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Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.