Northern Trust Tax-Exempt Bond ETF (TAXT US)
TAXT US$50.77
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Performance
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Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 50.77
- Change
- ▼ -0.05 (-0.11)
- Bid / Ask
- 43.71 - 58.38
- Volume
- 100
- Turnover
- 5,086
- Open
- 50.86
- Day Range
- 50.77 - 50.86
- VWAP
- 50.86
- Prev Close
- 50.83
- Last Trade
- 28/10 4:00pm
Fund profile
Displays who issues the fund, how it is structured and invests, its Morningstar category and benchmark, size, headline costs and dates, sourced from Morningstar. Fund size counts every class of the fund; ETF net assets is this listing alone.
Fund size
$189.0M
OCT 2026
Distributions
Monthly
Since inception
1.2 yrs
AUG 2025
- Legal name
- Northern Trust Tax-Exempt Bond ETF
- Issuer
- Northern Trust
- Type
- Exchange-Traded Fund
- Structure
- Open Ended Investment Company
- Management style
- Index fund
- Morningstar category
- Muni National Long
- Category index
- Bloomberg Municipal TR USD
- Benchmark
- ICE All Maturity Focused Muni Bd TR USD
- ETF net assets
- $189.0M
- Units on issue
- 3.7M
- Management fee
- 0.05% p.a.
- Domicile
- United States
- Base currency
- USD
- Inception
- 18 AUG 2025
- Listed
- 19 AUG 2025
Objective and strategy
The investment seeks results that correspond generally to the price and yield performance, before fees and expenses, of the ICE All Maturity Focused Municipal Bond Index. The underlying index is designed to measure the performance of the investment-grade segment of the U.S. municipal bond market as determined by ICE Data Indices, LLC, the index provider. Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt instruments that pay interest that is exempt from regular federal income tax. The fund is non-diversified.
Asset allocation
Displays how the fund is split between shares, bonds, cash and other assets, sourced from Morningstar.
US equity 0.00%Non-US equity 0.00%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 0.00 | 0.00 | — |
| Bond | 99.60 | 99.60 | — |
| Cash | 0.40 | 0.40 | — |
| Other | 0.00 | 0.00 | — |
Portfolio statistics · 22 OCT 2026
Displays the valuation, yield, size, concentration and quality of the fund's shareholdings taken together (trailing twelve months), sourced from Morningstar.
- Assets in top 10
- 1.61%
Top holdings · top 10 = 2.61% of assets
Displays the fund's ten largest holdings and their weight in the portfolio, sourced from Morningstar.
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| UNIVERSITY CALIF REVS 5% | 0.35 | — | 280,624 | USD | 280,000 | — | United States | |
| NEW YORK ST URBAN DEV CORP REV 5% | 0.34 | — | 273,063 | USD | 275,000 | — | United States | |
| NEW YORK ST TWY AUTH ST PERS INCOME TAX REV 5% | 0.32 | — | 256,339 | USD | 265,000 | — | United States | |
| SOUTH CAROLINA ST PUB SVC AUTH REV 5% | 0.27 | — | 210,022 | USD | 215,000 | — | United States | |
| SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WTR REV 5% | 0.24 | — | 192,067 | USD | 195,000 | — | United States | |
| CALIFORNIA ST UNIV REV 5.5% | 0.24 | — | 188,286 | USD | 180,000 | — | United States | |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN 4% | 0.23 | — | 179,644 | USD | 200,000 | — | United States | |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5% | 0.21 | — | 167,578 | USD | 165,000 | — | United States | |
| SACRAMENTO CALIF AREA FLOOD CTL AGY 5% | 0.20 | — | 162,252 | USD | 160,000 | — | United States | |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5% | 0.20 | — | 161,008 | USD | 160,000 | — | United States |
Trailing returns · 30 SEP 2026
Displays total returns after fees at net asset value, the return at the ASX market price, the return before fees, and where the fund ranks among funds in its Morningstar category, sourced from Morningstar.
Fund (NAV) Market price
1M
-3.3
3M
-4.8
6M
-2.9
YTD
-2.8
1Y
-1.1
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | -3.33 | -3.13 | -3.32 | 1 / 160 |
| 3 months | -4.80 | -4.43 | -4.79 | 1 / 160 |
| 6 months | -2.89 | -2.80 | -2.86 | 2 / 160 |
| Year to date | -2.84 | -2.71 | -2.80 | 4 / 159 |
| 1 year | -1.12 | 1.03 | -1.07 | 2 / 157 |
Returns to 30 SEP 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Risk statistics · 30 SEP 2026
Displays how the fund has moved relative to its category index: alpha (return beyond the index), beta (sensitivity to it), R-squared (how much the index explains), volatility and risk-adjusted returns, sourced from Morningstar.
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | 0.25 | — | — | — |
| Beta | 0.80 | — | — | — |
| R-squared | 99.37 | — | — | — |
| Standard deviation | 4.87 | — | — | — |
| Sharpe ratio | -0.99 | — | — | — |
| Sortino ratio | -1.04 | — | — | — |
| Tracking error | 1.28 | — | — | — |
| Information ratio | 1.22 | — | — | — |
| Upside capture % | 92.02 | — | — | — |
| Downside capture % | 76.87 | — | — | — |
| Maximum drawdown % | -4.79 | — | — | — |
Measured against Bloomberg Municipal TR USD with USTREAS T-Bill Auction Ave 3 Mon as the risk-free rate, to 30 SEP 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Displays Morningstar's Portfolio Risk Score for the fund's holdings, how closely the ETF tracks its index day to day, the estimated cost of holding it against the index, the cost of trading it at market size, and its best and worst quarters since inception, sourced from Morningstar.
- Best quarter
- 3.50% · NOV 2025
- Worst quarter
- -4.79% · SEP 2026
Fees and costs
Displays the fund's ongoing costs as a percentage of assets per year: the PDS management fees and costs, performance fee and transaction costs that make up the total cost ratio (the RG 97 forward estimate, and what was charged last financial year), and the buy / sell spread, sourced from Morningstar.
- Management fees and costs
- 0.05% p.a.
- PDS dated
- 1 MAY 2026
Distributions
Displays the most recent distribution paid per unit and its key dates, sourced from Morningstar.
- Latest distribution
- 0.1117
- Ex Date
- 1 OCT 2026
- Record Date
- 1 OCT 2026
- Pay Date
- 7 OCT 2026
- NAV at ex date
- 49.13
- Paid this year
- 1.2228
Distributions by year
Displays the total distributions paid per unit in each calendar year, sourced from Morningstar.
2024
0.6
| Year | Per unit ($) |
|---|---|
| 2024 | 0.6354 |
Distribution history
Displays the most recent distributions by ex date, sourced from Morningstar.
| Ex Date | Per unit ($) |
|---|---|
| 1 OCT 2026 | 0.1117 |
| 1 SEP 2026 | 0.1396 |
| 3 AUG 2026 | 0.1543 |
| 1 JUL 2026 | 0.1404 |
| 1 JUN 2026 | 0.1462 |
| 1 MAY 2026 | 0.1455 |
| 1 APR 2026 | 0.1159 |
| 2 MAR 2026 | 0.1125 |
| 2 FEB 2026 | 0.1566 |
| 19 DEC 2025 | 0.1143 |
| 1 DEC 2025 | 0.1544 |
| 3 NOV 2025 | 0.1550 |
Carbon · 31 AUG 2026
Displays the portfolio carbon risk score (lower is less exposure to the transition to a low-carbon economy), the share of the portfolio in companies with fossil fuel revenue, and whether the fund earns Morningstar's Low Carbon Designation, sourced from Morningstar and Sustainalytics.
- Category average
- 7.93%
Fund managers
Displays the people Morningstar lists as managers of the fund, sourced from Morningstar.
- Timothy P. Blair
Tenure
Displays how long the managers have run the fund: the average and longest tenure, who has served longest, the latest appointment and how many other funds the team manages, sourced from Morningstar.
- Number of managers
- 1
- Average tenure
- 1.2 years
- Longest tenure
- 1.2 years
- Longest serving
- Timothy P. Blair · since 18 AUG 2025
- Most recent appointment
- Timothy P. Blair · since 18 AUG 2025
- Managed since
- 18 AUG 2025
- Other funds managed
- 20
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
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