Northern Tax Exempt Fund (NOTEX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with NOTEX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to NOTEX
NOTEX charges 0.45% annually. There are 95 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | NOTEX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | NOTEX vs VTMFX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | NOTEX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | NOTEX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | NOTEX vs FSMUX |
Best Risk-Adjusted Alternatives to NOTEX
NOTEX has a PortfoliosLab risk / return rank of 75. There are 273 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | NOTEX vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | NOTEX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | NOTEX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | NOTEX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | NOTEX vs TFCYX |
Top Performing NOTEX Alternatives (YTD)
NOTEX is at 1.73% YTD. There are 249 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.37%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.37% | — | Apr 1998 | NOTEX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 10.00% | — | Nov 2002 | NOTEX vs NRK | |
| BlackRock MuniYield Michigan Quality Fund | 7.79% | — | Oct 1992 | NOTEX vs MIY | |
| AllianceBernstein National Municipal Income Fund | 6.86% | — | Nov 2001 | NOTEX vs AFB | |
| BlackRock MuniHoldings California Quality Fund | 6.82% | — | Feb 1998 | NOTEX vs MUC |
Lowest Volatility Alternatives to NOTEX
NOTEX has 2.67% 1-year volatility. There are 241 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.55%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.55% | — | Aug 2002 | NOTEX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | NOTEX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.57% | — | Apr 2007 | NOTEX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | NOTEX vs USMTX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | NOTEX vs USMSX |
Lowest Drawdown Alternatives to NOTEX
NOTEX has a 1-year max drawdown of -2.68%. There are 198 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | NOTEX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | NOTEX vs ATOIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | NOTEX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | NOTEX vs FHMIX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | NOTEX vs DFSMX |
Other Mutual Funds from Northern Funds
The 10 most viewed Northern Funds mutual funds shown here include NOIEX, NOSIX, NHFIX and span 9 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Northern Income Equity Fund | Large Cap Value Equities | 76 | 12.21% | — | Mar 1994 | NOTEX vs NOIEX | |
| Northern Stock Index Fund | Large Cap Blend Equities | 65 | 10.86% | — | Oct 1996 | NOTEX vs NOSIX | |
| Northern High Yield Fixed Income Fund | High Yield Bonds | 84 | 2.34% | — | Dec 1998 | NOTEX vs NHFIX | |
| Northern Global Sustainability Index Fund | Global Equities | 54 | 9.87% | — | Mar 2008 | NOTEX vs NSRIX | |
| Northern International Equity Index Fund | Foreign Large Cap Equities | 35 | 10.36% | — | Mar 2005 | NOTEX vs NOINX | |
| Northern Small Cap Value Fund | Small Cap Value Equities | 74 | 20.50% | — | Mar 1994 | NOTEX vs NOSGX | |
| Northern Large Cap Core Fund | Large Cap Blend Equities | 77 | 10.25% | — | Dec 2005 | NOTEX vs NOLCX | |
| Northern Small Cap Core Fund | Small Cap Blend Equities | 77 | 22.13% | — | Sep 1999 | NOTEX vs NSGRX | |
| Northern Bond Index Fund | Intermediate Core Bond | 16 | -0.24% | — | Feb 2007 | NOTEX vs NOBOX | |
| Northern Mid Cap Index Fund | Mid Cap Blend Equities | 42 | 15.24% | — | Mar 2005 | NOTEX vs NOMIX |
Often Compared With NOTEX
Investors most often compare NOTEX with NSIDX, APUSX, DNYMX. These 9 comparison targets span 3 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Northern Small Cap Index Fund | Small Cap Blend Equities | 69 | 21.27% | — | Sep 1999 | NOTEX vs NSIDX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | Municipal Bonds | 19 | 1.00% | — | Dec 2017 | NOTEX vs APUSX | |
| DFA NY Municipal Bond Portfolio | Municipal Bonds | 99 | 1.29% | — | Jun 2015 | NOTEX vs DNYMX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | Municipal Bonds | 98 | 1.02% | — | Dec 2017 | NOTEX vs FGNSX | |
| Northern Core Bond Fund | Intermediate Core Bond | 16 | -0.30% | — | Mar 2001 | NOTEX vs NOCBX | |
| BlackRock MuniYield Pennsylvania Quality Fund | Municipal Bonds | 45 | 4.77% | — | Nov 1992 | NOTEX vs MPA | |
| Nuveen Virginia Quality Municipal Income Fund | Municipal Bonds | 29 | 6.52% | — | Mar 1993 | NOTEX vs NPV | |
| BlackRock MuniHoldings New Jersey Quality Fund | Municipal Bonds | 71 | 6.74% | — | Mar 1998 | NOTEX vs MUJ | |
| PIMCO Fixed Income SHares: Series TE | Municipal Bonds | 87 | 2.22% | — | Jun 2012 | NOTEX vs FXIEX |
Compare NOTEX with Any Fund or Stock
Compare NOTEX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair NOTEX with funds that move differently
Northern Tax Exempt Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to NOTEX.
Explore NOTEX Diversifiers