Northern Trust Tax-Exempt Bond ETF
TAXT
NASDAQ Global Market- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Timothy Paul Blair CFA
- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 50 South LaSalle Street Chicago IL United States of America 60603
- IPO Date
- Aug 19, 2025
- Website
- flexshares.com
- Similar Companies
- Business
- Northern Trust Tax-Exempt Bond ETF (NASDAQ: TAXT) is an exchange-traded fund that seeks to provide tax-exempt income through a passively managed portfolio tracking the ICE All Maturity Focused Municipal Bond Index - Benchmark TR Gross. The fund invests in a market value-weighted selection of investment-grade, USD-denominated municipal bonds publicly issued by U.S. states, local governments, or agencies, with interest exempt from U.S. federal income taxes and the federal alternative minimum tax (AMT); eligible securities must be part of deals with an original offering size of at least $100 million, have a fixed coupon schedule, at least one day to final maturity, and an outstanding face value of at least $10 million, excluding bonds from U.S. territories except the District of Columbia, with the index reconstituted monthly and subject to capping constraints. It targets investors seeking diversified exposure across varying maturities in the municipal bond market, with approximately 325 holdings as of late 2025. Launched on August 18, 2025, as part of Northern Trust Asset Management's inaugural suite under the new Northern Trust ETFs brand, TAXT forms one-third of the low-fee Northern Trust Tax-Exempt Bond ETF Suite alongside the Short Term Tax-Exempt Bond ETF (TAXS; 1-5 years) and Intermediate Tax-Exempt Bond ETF (TAXI; 1-15 years), leveraging over 30 years of the firm's municipal bond management expertise to offer tax-exempt income solutions tailored to different time horizons and risk levels. The ETF operates within the broader fixed income segment focused on municipal securities, serving individual and institutional investors pursuing tax-efficient income and portfolio diversification amid varying interest rate environments. Issued by Northern Funds Distributors, LLC and managed by Northern Trust Asset Management—a division of Northern Trust Corporation, founded in 1889 and headquartered in Chicago, Illinois—the fund benefits from the parent company's global presence across 24 U.S. states, Washington, D.C., and 22 international locations in Canada, Europe, the Middle East, and Asia-Pacific. As of late 2025, it maintains assets under management of approximately $14 million, trades at a slight premium to net asset value, and delivers a dividend yield around 2.5%.