Northern Trust Tax-Exempt Bond ETF
$49.43−0.40 (−0.79%)
- Expense ratio
- 0.05%
- Fund size
- $74M
- 1Y return
- +0.5%
- Yield · Last 12 months
- 3.38%
- Holdings
- 1627
- Volume · 30D
- 0M sh
- NAV per share
- $49.71
- 52W range
The ETF.net TAXT Grade
Score 76 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 95Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 87Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 55Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 46Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 90Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 39Category rank
Our read on TAXT
ANorthern Trust's muni index fund charges 0.05% a year, a fraction of the typical muni ETF fee, and spreads across roughly 1,300 investment-grade bonds along the full maturity curve. Cheap, plain, and brand new.
The Fund seeks results generally corresponding to the price and yield performance of the ICE All Maturity Focused Municipal Bond Index before fees and expenses. It is designed for tax-exempt income through passively managed investment-grade municipal bonds spanning the full municipal curve.
Why people hold it
- Charges 0.05% a year against a 0.30% median for muni bond ETFs, so less of the tax-free coupon leaks out to fees.
- Roughly 1,300 investment-grade munis, short bonds to long, tracking the ICE All Maturity Focused Municipal Bond Index. No manager bets, no single-state tilt.
- Pays income monthly, and the build sits in the top quartile of a crowded national muni field on cost, mandate clarity and portfolio construction.
Worth knowing
- Launched in August 2025, so there is no record yet across a full interest-rate cycle.
- Volume is light next to entrenched rivals like VTEB and MUB, which can widen the spread you pay on larger orders.
- Cheap, but not the floor: Vanguard's VTEB and Schwab's SCMB run 0.03%.
TAXT Holdings
- Bonds
- 1,627
- 4%
- CASH
Geography
- United States100.00%
TAXT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | TAXT |
|---|---|
| Year to date | −1.1% |
| 1 month | −1.9% |
| 3 months | −2.6% |
| 1 year | +0.5% |
| 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 | TAXT |
|---|---|---|
| 2026 YTD | −1.1% | |
| 2025 | +4.0% |
TAXT in the news
ETF.net Research hasn’t filed on TAXT yet — coverage lands here as it’s written.
TAXT Dividends
- 3.38%
- $1.68
- $0.14 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 8, 2026 | $0.14 |
| Aug 3, 2026 | Aug 7, 2026 | $0.15 |
| Jul 1, 2026 | Jul 8, 2026 | $0.14 |
| Jun 1, 2026 | Jun 5, 2026 | $0.15 |
| May 1, 2026 | May 7, 2026 | $0.15 |
| Apr 1, 2026 | Apr 7, 2026 | $0.12 |
| Mar 2, 2026 | Mar 6, 2026 | $0.11 |
| Feb 2, 2026 | Feb 6, 2026 | $0.16 |
| Dec 19, 2025 | Dec 26, 2025 | $0.11 |
| Dec 1, 2025 | Dec 5, 2025 | $0.15 |
| Nov 3, 2025 | Nov 7, 2025 | $0.16 |
| Oct 1, 2025 | Oct 7, 2025 | $0.15 |
TAXT Risk
- 3.9%
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.
- 0.13
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.
- −3.2%
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.
- 0.15
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAXT Cost
- The middle half of Other Municipal Bond funds
- Median 0.30%
2 of the 62 Other Municipal Bond funds charge less.