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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 924 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Yesterday at 1:30 PM UTC
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This fund is part ofMunicipal Bonds1M perf.-0.88%
Last price
$50.07
1M perf.
-0.29%
1M flows
+€41M
AuM
€116M
TER
0.05%
Rating
Not rated
ESG Consensus®
TAXS
$50.07
Performance & flows
Segment for quartile rank
February 20, 2026 → May 20, 2026
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TAXS
$50.06
-0.48%
Municipal Bonds
-1.32%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.29%  | -0.48% | N/A | N/A | N/A | -0.15% | +0.14% | +0.48%  | |
| Flows |
Key fund info
Segment for quartile rank
This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
Issuer
CUSIP
665162228
ISIN
US6651622283
AuM
€116M
TER
0.05%
Replication rating
Not rated
ESG Consensus®
More details
NAV
5/20/2026
$50.06
1D NAV change
+0.06%
Dividend policy
Replication method
Direct (Physical)
Replication model
Optimized sampling
No. of holdings
924
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
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
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | -0.48% | 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
More exposure metrics are available, exclusively in Trackinsight Enterprise
Exposure
Countries
USA
87.87%
Unavailable
12.13%
Sectors
Municipal
37.74%
Unavailable
62.26%
Diversification
Total weight of top 15 holdings out of 924
Top 15 holdings
Data as of March 31, 2026
US45505MJL19
US267169HD59
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
US254845TN04
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
US604146GB05
Kentucky, 5% 1apr2030, USD
Ohio Water Development Authority, 5% 1dec2029, USD (2019)
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US39081JGT97
US938782EQ84
US451446AC29
US513174Q709
US115065ZA56
US115065YX68
US279263RK58
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Sustainability
Integrates ESG criteria
No
SDG
More sustainability metrics are available, exclusively in Trackinsight Enterprise
Issuer
Northern Trust
Northern Trust ID Card
Number of funds
4
Total AuM
€984M
Expense ratio range
0.05% - 0.12%
Average expense ratio
0.0675%
Top 4 funds by Northern Trust
| AuM | ||
|---|---|---|
NOEQ | Northern Trust US Equity ETF | €740M |
TAXS | Northern Trust Short-Term Tax-Exempt Bond ETF | €116M |
TAXI | Northern Trust Intermediate Tax-Exempt Bond ETF | €79M |
TAXT | Northern Trust Tax-Exempt Bond ETF | €49M |
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 €116M in assets as of May 20, 2026.
How has TAXS performed lately?
Based on data from May 20, 2026, TAXS returned -0.29% over the past month, -0.48% over the last three months and 0.48% year-to-date.
What are the latest inflows or outflows for TAXS?
As of May 20, 2026, TAXS recorded net flows of +€41M over the last month and +€55M 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 March 31, 2026, TAXS has significant geographic allocations in USA.
In which sector or theme does TAXS invest in?
As of March 31, 2026, TAXS focuses largely on Municipal.
How many securities does TAXS hold and how diversified is it?
As of March 31, 2026, TAXS holds 924 positions in its portfolio, with 4.76% of assets concentrated in its top 15 holdings.
What are the main positions in TAXS?
As of March 31, 2026, TAXS top three holdings include US45505MJL19, US267169HD59 and Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1).
What is the base currency of TAXS?
The base currency of TAXS is USD.
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