Northern Trust Intermediate Tax-Exempt Bond ETF
$49.58+0.16 (+0.32%)
- 0.05%
- $250M
- −0.2%
- 2.69%
- 0M sh
- $49.37
- low $48.76high $52.18
The ETF.net TAXI Grade
A
Score 82 out of 100
- 1 of 20
Score 82 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A100 out of 100Rank 1 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.A91 out of 100Rank 14 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A71 out of 100Rank 1 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B58 out of 100Rank 7 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A81 out of 100Rank 1 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C51 out of 100Rank 10 of 20
Our read on TAXI
AThe middle rung of Northern Trust's three-part muni lineup: intermediate maturities of 1 to 15 years, thousands of investment-grade bonds, federally tax-exempt income paid monthly, all for five basis points.
The fund seeks to track the performance of the ICE Intermediate Term Focused Municipal Bond Index before fees and expenses. It is designed for tax-exempt income through passively managed, investment-grade municipal bonds with intermediate maturities of 1–15 years.
Why people hold it
- Charges 0.05% where the typical muni fund charges 0.30%. That ties iShares' MUB and sits within a hair of the Vanguard and Schwab giants at the top of the aisle.
- Roughly 2,500 investment-grade municipal bonds, sampled to track the ICE Intermediate Term Focused Municipal Bond Index. Breadth, not bond-picking, carries the credit risk.flexshares.com
- Income is exempt from federal tax and paid monthly, and the index only counts bonds that also dodge the federal alternative minimum tax.stockanalysis.com
- One setting on a three-position dial: short (TAXS), intermediate (TAXI) and all-maturity (TAXT) from the same desk, so you can shift rate exposure without switching shops.ntam.northerntrust.com
Worth knowing
- It opened in August 2025. The record is short, so there is little history to judge it against older muni funds.
- Trades lightly next to the category's household names, and its asset base is modest, which can show up as wider spreads at the moment you transact.
- The 1 to 15 year band is a middle seat: less rate whiplash than long-dated munis, more price movement than a short-maturity fund. Bonds here still move when yields do.flexshares.com
TAXI Holdings
- Bonds
- 3,467
- 3%
- Cash
Geography
- United States100.00%
TAXI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
TAXI$9,975
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TAXI |
|---|---|
| Year to date | −1.7% |
| 1 month | −0.7% |
| 3 months | −2.7% |
| 1 year | −0.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TAXI |
|---|---|---|
| 2026 YTD | −1.7% | |
| 2025 | +3.4% |
TAXI in the news
TAXI Dividends
- 2.69%
- $1.33
- $0.11 per share
- Monthly
Distribution history
TAXI Risk
- 4.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.74
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −4.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.14
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAXI Cost
0.05%
TAXI0.05%
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
No Intermediate Municipal Bonds fund charges less.
Other funds in Intermediate Municipal Bonds
- AEVIMEaton Vance Intermediate Municipal Income ETFExpense ratio 0.11%1 year return −0.9%
- AITMVanEck Intermediate Muni ETFExpense ratio 0.18%1 year return −2.4%
- ACAMAlliance Bernstein - AB California Intermediate Municipal ETFExpense ratio 0.27%1 year return −0.6%
- ATAXET. Rowe Price Intermediate Municipal Income ETFExpense ratio 0.24%1 year return −0.8%
- BTAFMAlliance Bernstein - AB Tax-Aware Intermediate Municipal ETFExpense ratio 0.28%1 year return −2.3%