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TAXS ETF · Northern Trust Short-Term Tax-Exempt Bond ETF
The TAXS Exchange Traded Fund (ETF) is provided by Northern Trust. It is built to track an index: ICE Short Term Focused Municipal Bond Index. The TAXS ETF provides physical exposure, so by buying it you actually own parts of all the 610 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Yesterday at 1:30 PM UTC
LIVE
CLOSED
This fund is part ofMunicipal Bonds1M perf.-0.65%
Last price
$50.42
1M perf.
-0.14%
1M flows
+€7.8M
AuM
€71M
E/R
0.05%
Rating
Not rated
ESG Consensus®
TAXS
$50.42
Performance & flows
Segment for quartile rank
December 17, 2025 → March 17, 2026
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TAXS
$50.43
+1.01%
Municipal Bonds
+1.04%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.14%  | +1.01%  | N/A | N/A | N/A | -0.22% | +0.80% | +0.80% | |
| Flows |
Key fund info
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This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
Issuer
CUSIP
665162228
ISIN
US6651622283
AuM
€71M
E/R
0.05%
Replication rating
Not rated
ESG Consensus®
More details
NAV
3/17/2026
$50.43
1D NAV change
+0.06%
Dividend policy
Replication method
Direct (Physical)
Replication model
Optimized sampling
No. of holdings
610
Inception date
8/19/2025
Jurisdiction
United States
Distribution
United States
Legal structure
Open-end Fund
Base currency
USD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Benchmark
ICE Short Term Focused Municipal Bond Index
Asset class
Factors
N/A
Investment strategy
The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE Short Term Focused Municipal Bond Index (the "Underlying Index").
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
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Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +1.01% | N/A | N/A | N/A |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
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Countries
USA
85.60%
Unavailable
14.40%
Sectors
Municipal
39.37%
Unavailable
60.63%
Diversification
Total weight of top 15 holdings out of 610
Top 15 holdings
Data as of January 31, 2026
US45505MJL19
US267169HD59
US254845TN04
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
Ohio Water Development Authority, 5% 1dec2029, USD (2019)
US604146GB05
Kentucky, 5% 1apr2030, USD
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US39081JGT97
US451446AC29
US938782EQ84
US513174Q709
US115065ZA56
US115065YX68
US279263RK58
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Enterprise
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Integrates ESG criteria
No
SDG
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
Northern Trust
Northern Trust ID Card
Number of funds
3
Total AuM
€197M
Expense ratio range
0.05% - 0.05%
Average expense ratio
0.05%
Top 3 funds by Northern Trust
| AuM | ||
|---|---|---|
TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | €89M |
TAXS | Northern Trust Short-Term Tax-Exempt Bond ETF | €71M |
TAXT | Northern Trust Tax-Exempt Bond ETF | €37M |
Frequently asked questions about TAXS
What does Northern Trust Short-Term Tax-Exempt Bond ETF, TAXS, invest in?
TAXS is a Passive ETF. This ETF provides exposure to US Investment Grade Municipal Bonds.
Which benchmark or index does TAXS replicate?
TAXS tracks the ICE Short Term Focused Municipal Bond Index - USD, through a optimized sampling replication method.
What is the Total Expense ratio (TER) of TAXS?
TAXS carries a total expense ratio (TER) of 0.05%, indicating the annual cost for holding the fund.
When was TAXS launched?
TAXS was introduced to the market on August 19, 2025. It trades on United States
Who is the ETF issuer of TAXS?
Northern Trust Short-Term Tax-Exempt Bond ETF, TAXS, is provided by Northern Trust. Learn more about Northern Trust here.
What is the current assets under management (AUM) of TAXS?
TAXS oversees €71M in assets as of March 17, 2026.
How has TAXS performed lately?
Based on data from March 17, 2026, TAXS returned -0.14% over the past month, 1.01% over the last three months and 0.80% year-to-date.
What are the latest inflows or outflows for TAXS?
As of March 17, 2026, TAXS recorded net flows of +€7.8M over the last month and +€8.7M year-to-date.
Does TAXS distribute dividends?
TAXS follows a distributing dividend policy, meaning it pays out income to investors.
What are the main country or region exposures of TAXS?
As of January 31, 2026, TAXS has significant geographic allocations in USA.
In which sector or theme does TAXS invest in?
As of January 31, 2026, TAXS focuses largely on Municipal.
How many securities does TAXS hold and how diversified is it?
As of January 31, 2026, TAXS holds 610 positions in its portfolio, with 5.64% of assets concentrated in its top 15 holdings.
What are the main positions in TAXS?
As of January 31, 2026, TAXS top three holdings include US45505MJL19, US267169HD59 and US254845TN04.
What is the base currency of TAXS?
The base currency of TAXS is USD.
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