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Northern Trust Tax-Exempt Bond ETF

The fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE All Maturity Term Focused Municipal Bond Index (the "Underlying Index").

For investors seeking tax-exempt income from a passively managed investment-grade municipal bond ETF with exposure to the full municipal curve.

  • $39.10 (62.22%)

  • $39.68

  • 2.11

  • 2.54%

  • 0.25%

Resources

INDEX

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ICE All Maturity Focused Municipal Bond Index tracks the performance of U.S. dollar denominated investment grade -exempt debt publicly issued in the U.S. domestic market by U.S. states and territories as well as their political subdivisions. Qualifying securities must be exempt from Federal taxes and must not be subject to alternative minimum tax. In addition, qualifying securities must have at least one day remaining term to final maturity, a fixed coupon schedule (including step-up or step-down bonds) and an investment grade rating (based on the middle rating of Moody’s, S&P and Fitch).

Index Methodology

Before investing, carefully consider the investment objectives, risks, charges and expenses. This and other information are in the prospectus and a summary prospectus, copies of which may be obtained on this website. Read the prospectus carefully before you invest. 

The FlexShares ETFs, registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 are distributed by Foreside Fund Services, LLC, not affiliated with Northern Trust.  The Northern Trust ETFs, registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.  FlexShares ETFs, and Northern Trust ETFs, (the “Funds”), are managed by Northern Trust. 

All investments are subject to numerous risks, including possible loss of principal. Fund returns may not match the return of the respective indexes. The Funds are subject to the following principal risks: alternative minimum tax; asset class; authorized participant; calculation methodology; cash transactions risk; commodity; concentration; counterparty; credit (default); currency; debt extension; derivatives; dividend; emerging markets; Environmental, Social, Governance (ESG); equity securities; financial sector; fluctuation of yield and principal payment risk; foreign securities; fund termination risk; geographic; high portfolio turnover; income; index; industry concentration; inflation; infrastructure-related companies; interest rate; issuer; liquidity; large cap; management; market; market trading; mid cap stock; MLP; momentum; municipal investment risk; municipal market volatility risk; municipal tax liability risk; natural resources; new funds; non-diversification; passive investment; privatization; prepayment (or call); return of capital/distribution; sampling; securities lending; small fund; small cap stock; tracking error; valuation; value investing; and volatility risk. A full description of risks is in the prospectus. 

Individual investors should contact their financial advisor or broker dealer representative for more information on the Funds.

Investment Products and Services are:
NOT FDIC INSURED, MAY LOSE VALUE, NO BANK GUARANTEE

All registered investment companies are obliged to distribute portfolio gains to shareholders at year-end regardless of performance. Trading ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer.

Foreside Fund Services, LLC

Northern Trust Tax-Exempt Bond ETF (TAXT) is passively managed and primarily uses a representative sampling strategy to track its underlying index. NTI uses a representative sampling strategy to manage the Fund. “Representative sampling” is investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index. The Fund may or may not hold all of the securities that are included in the Underlying Index. It may invest in derivative instruments. Changes in the value of the derivative may not correlate with the underlying asset, rate or index and the Fund could lose more than the principal amount invested. The Fund is subject to municipal investment risk, municipal market volatility risk, municipal tax liability risk, alternative minimum tax risk, index, credit/default risk, income risk, and interest rate/maturity risk. The Fund is non-diversified meaning the Fund performance may depend on the performance of a small number of issuers because the Fund may invest a large percentage of its assets in securities issued by or representing a small number of issuers.

The ICE All Maturity Focused Municipal Bond Index is the intellectual property (including registered trademarks) of Intercontinental Exchange, Inc. ("ICE") and/or its licensors ("Licensors"), which is used under license. The securities based on the Index are in no way sponsored, endorsed, sold or promoted by ICE and its Licensors and neither of the Licensors shall have any liability with respect thereto.

All data provided by: Northern Trust, J.P. Morgan, Refinitiv and Morningstar.

Before investing, carefully consider the investment objectives, risks, charges and expenses. This and other information are in the prospectus and a summary prospectus, copies of which may be obtained by visiting www.flexshares.com. Read the prospectus carefully before you invest.

Northern Funds Distributors, LLC, distributor.  Northern Funds Distributors, LLC is not affiliated with Northern Trust.

Municipal Tax Liability Risk is the risk that shareholders of the Fund could be subject to tax liabilities. The Fund will invest in municipal securities in reliance at the time of purchase on an opinion of bond counsel to the issuer that the interest paid on those securities will be excludable from gross income for regular federal income tax purposes.