Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS)

The Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) is an exchange-traded fund from Northern Trust Asset Management that invests in short-maturity municipal bonds whose interest is generally exempt from regular federal income tax.

Its holdings are primarily investment-grade obligations of U.S. states, municipalities and public agencies. By focusing on bonds with short maturities, the fund seeks to limit sensitivity to changes in interest rates and keep price fluctuations relatively modest compared with longer-term municipal funds.

The fund aims to provide federally tax-exempt current income together with an emphasis on capital preservation, positioning it at the conservative, short-duration end of the municipal bond market.