diff --git a/tuf/ngclient/_internal/trusted_metadata_set.py b/tuf/ngclient/_internal/trusted_metadata_set.py
index 25c46cb1..369b5255 100644
--- a/tuf/ngclient/_internal/trusted_metadata_set.py
+++ b/tuf/ngclient/_internal/trusted_metadata_set.py
@@ -116,7 +116,7 @@ def __len__(self) -> int:
 
     def __iter__(self) -> Iterator[Metadata]:
         """Returns iterator over all Metadata objects in TrustedMetadataSet"""
-        return iter(self._trusted_set)
+        return iter(self._trusted_set.values())
 
     # Helper properties for top level metadata
     @property