Northern Trust Intermediate Tax-Exempt Bond ETF

Frequently Asked Questions About TAXI

What does TAXI invest in?

This fund aims to replicate the overall returns, both in price appreciation and income generation, of the ICE Intermediate Term Focused Municipal Bond Index, prior to factoring in its operational costs. It serves as an ideal choice for individuals seeking income that is exempt from federal taxes, sourced from a highly-rated, index-tracking municipal bond exchange-traded fund holding securities with medium-range maturities, typically between one and fifteen years.

What is the expense ratio of TAXI?

Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) charges an expense ratio of 0.05%. This is the annual fee deducted from fund assets to cover management and operations.

What is TAXI's dividend yield?

TAXI's trailing-twelve-month yield is 2.25%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of TAXI?

Effective duration measures TAXI's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. TAXI's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of TAXI?

TAXI's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of TAXI?

Yield to maturity (YTM) is the total return you'd earn from TAXI if every bond in the portfolio is held to maturity at the current price. TAXI's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.