Northern Trust 2055 Tax-Exempt Distributing Ladder ETF
MUND
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- Northern Trust 2055 Tax-Exempt Distributing Ladder ETF (MUND) is an actively managed exchange-traded fund that employs a laddered bond strategy consisting of U.S. investment-grade municipal bonds across staggered maturities, including general obligation, revenue, and moral obligation bonds as well as tax-exempt derivative instruments, to deliver tax-exempt monthly income distributions and annual principal return through its 2055 target year. The fund, part of Northern Trust Asset Management's innovative Tax-Exempt Distributing Ladder ETF suite, targets investors pursuing spend-down strategies for retirement income and cash flow management over a 30-year horizon, offering enhanced liquidity, diversification, and transparency compared to traditional bond ladders; it features a net expense ratio of 0.18% and is complemented by related suite offerings such as the Northern Trust 2030 (MUNA), 2035 (MUNB), and 2045 (MUNC) Tax-Exempt Distributing Ladder ETFs. Distributed by Northern Funds Distributors, LLC, and advised by Northern Trust Investments, Inc., the open-ended fund (ISIN: US6651621525) trades on the NYSE Arca exchange. Launched on August 18, 2025, as one of 11 inaugural funds under the new Northern Trust ETFs brand—which also encompasses the Inflation-Linked Distributing Ladder ETF suite (TIPA, TIPB, TIPC, TIPD) and Tax-Exempt Bond ETF suite (TAXS, TAXI, TAXT)—MUND represents Northern Trust Asset Management's strategic expansion into distributing ladder ETFs using patent-pending technology to address decumulation-phase needs while minimizing taxes. Northern Trust Asset Management, the fund sponsor, operates as a division of Northern Trust Corporation, a financial services firm founded in 1889 and headquartered at 50 South LaSalle Street in Chicago, Illinois, with global operations spanning 24 U.S. states, Washington, D.C., and 22 locations across Canada, Europe, the Middle East, and Asia-Pacific; the firm manages approximately $1.7 trillion in assets under management and $18.1 trillion in assets under custody/administration as of June 30, 2025.