- Issuer
- Northern Trust
- Inception Date
- Aug 18, 2025
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE Focused Municipal Bond Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $61M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
TAXT Performance Chart
Northern Trust Tax-Exempt Bond ETF (TAXT) is up 1.3% since the beginning of the year. TAXT is currently trading at $51 per share.
Loading charts...
Returns By Period
Northern Trust Tax-Exempt Bond ETF
- 1D
- -0.18%
- 1M
- 0.97%
- YTD
- 1.33%
- 6M
- 1.67%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- 0.31%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
TAXT Monthly Returns History
Based on dividend-adjusted daily data since Aug 19, 2025, TAXT's average daily return is +0.03%, while the average monthly return is +0.47%. At this rate, an investment would double in approximately 12.3 years.
Historically, 82% of months were positive and 18% were negative. The best month was Sep 2025 with a return of +2.1%, while the worst month was Mar 2026 at -2.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 1 months.
On a daily basis, TAXT closed higher 57% of trading days. The best single day was Sep 5, 2025 with a return of +0.6%, while the worst single day was Mar 20, 2026 at -0.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.78% | 1.28% | -1.95% | 0.76% | 0.49% | -0.01% | 1.33% | ||||||
| 2025 | 0.08% | 2.12% | 1.09% | 0.30% | 0.28% | 3.91% |
Benchmark Metrics
Northern Trust Tax-Exempt Bond ETF has an annualized alpha of 5.18%, beta of 0.07, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since August 19, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (21.54%) than losses (5.76%) - typical of diversified or defensive assets.
- Beta of 0.07 may look defensive, but with R2 of 0.13 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.13 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.18%
- Beta
- 0.07
- R²
- 0.13
- Upside Capture
- 21.54%
- Downside Capture
- 5.76%
Expense Ratio
TAXT has an expense ratio of 0.05%, which is considered low.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Northern Trust Tax-Exempt Bond ETF (TAXT) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TAXT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.53 | — |
| Martin ratioReturn relative to average drawdown | — | 11.37 | — |
Dividends
Dividend History
Northern Trust Tax-Exempt Bond ETF provided a 2.55% dividend yield over the last twelve months, with an annual payout of $1.31 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.31 | $0.64 |
Dividend yield | 2.55% | 1.23% |
Monthly Dividends
The table displays the monthly dividend distributions for Northern Trust Tax-Exempt Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.16 | $0.11 | $0.12 | $0.15 | $0.15 | $0.68 | ||||||
| 2025 | $0.06 | $0.15 | $0.16 | $0.27 | $0.64 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Northern Trust Tax-Exempt Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Northern Trust Tax-Exempt Bond ETF was 2.49%, occurring on Mar 24, 2026. The portfolio has not yet recovered.
The current Northern Trust Tax-Exempt Bond ETF drawdown is 0.73%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -2.49%Mar 2026 | 22d | — | 3mo 15dMar 2026 - now |
2025 pullback2025 | -0.49%Nov 2025 | 7d | 7d | 14dNov 2025 - Nov 2025 |
2025 pullback2025 | -0.37%Nov 2025 | 9d | 6d | 15dOct 2025 - Nov 2025 |
2025 pullback2025 | -0.36%Sep 2025 | 8d | 11d | 19dSep 2025 - Oct 2025 |
2025 pullback2025 | -0.34%Dec 2025 | 1d | 3d | 4dDec 2025 - Dec 2025 |
Drawdown Indicators
| TAXT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.49% | -56.78% | +54.29% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.73% | -2.34% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -10.72% | +10.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.02% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with TAXT
Add Northern Trust Tax-Exempt Bond ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with TAXT