TAX-EXEMPT FUND
Name
As of 11/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.0%
1 yr return
5.9%
3 Yr Avg Return
-1.4%
5 Yr Avg Return
0.4%
Net Assets
$782 M
Holdings in Top 10
17.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.50%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 86.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NOTEX - Profile
Distributions
- YTD Total Return 2.0%
- 3 Yr Annualized Total Return -1.4%
- 5 Yr Annualized Total Return 0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.93%
- Dividend Yield 3.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameTAX-EXEMPT FUND
-
Fund Family NameNorthern Trust
-
Inception DateApr 01, 2094
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTimothy McGregor
Fund Description
∎ | General obligation bonds secured by the issuer’s full faith, credit and taxing power; |
∎ | Revenue obligation bonds payable from the revenues derived from a particular facility or class of facilities; |
∎ | Industrial development bonds; |
∎ | Moral obligation bonds; |
∎ | Tax-exempt derivative instruments; |
∎ | Stand-by commitments; and |
∎ | Municipal instruments backed by letters of credit, insurance or other forms of credit enhancement issued by domestic or foreign banks, insurance companies and other financial institutions. |
NOTEX - Performance
Return Ranking - Trailing
Period | NOTEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.0% | -4.6% | 33.0% | 65.22% |
1 Yr | 5.9% | -0.1% | 38.0% | 57.69% |
3 Yr | -1.4%* | -10.8% | 3.4% | 84.75% |
5 Yr | 0.4%* | -6.7% | 1104.0% | 76.34% |
10 Yr | 1.8%* | -0.9% | 248.8% | 46.43% |
* Annualized
Return Ranking - Calendar
Period | NOTEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.2% | -1.4% | 41.0% | 67.54% |
2022 | -13.7% | -39.7% | 0.3% | 79.95% |
2021 | -1.1% | -5.6% | 6.9% | 78.31% |
2020 | 2.3% | -2.6% | 310.0% | 22.31% |
2019 | 4.2% | 0.0% | 26.0% | 33.93% |
Total Return Ranking - Trailing
Period | NOTEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.0% | -4.6% | 33.0% | 65.22% |
1 Yr | 5.9% | -0.1% | 38.0% | 57.69% |
3 Yr | -1.4%* | -10.8% | 3.4% | 84.75% |
5 Yr | 0.4%* | -6.7% | 1104.0% | 76.34% |
10 Yr | 1.8%* | -0.9% | 248.8% | 46.43% |
* Annualized
Total Return Ranking - Calendar
Period | NOTEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.6% | -1.3% | 41.0% | 51.57% |
2022 | -11.3% | -39.7% | 1.1% | 77.91% |
2021 | 1.1% | -4.8% | 23761504.0% | 61.12% |
2020 | 5.1% | -1.5% | 17057.9% | 14.18% |
2019 | 6.3% | 0.2% | 3514.6% | 56.50% |
NAV & Total Return History
NOTEX - Holdings
Concentration Analysis
NOTEX | Category Low | Category High | NOTEX % Rank | |
---|---|---|---|---|
Net Assets | 782 M | 3.22 M | 71.9 B | 35.67% |
Number of Holdings | 298 | 4 | 13418 | 39.91% |
Net Assets in Top 10 | 130 M | -317 M | 3.09 B | 34.71% |
Weighting of Top 10 | 17.34% | 1.8% | 100.3% | 50.80% |
Top 10 Holdings
- Northern Inst Fds GOVT PTFL 6.03%
- NC RALGEN 5 10/01/2031 2.00%
- T 4 02/15/34 1.71%
- CO COSCTF 4 12/15/2037 1.35%
- OH OHSWTR 5 12/01/2040 1.10%
- FL MDCTRN 3 10/01/2050 1.08%
- KY LOUUTL 2 10/01/2033 1.06%
- CT CTSHGR 07/01/2049 1.01%
- OK OKSDEV 5 04/01/2031 1.00%
- NM NMSTRN 5 06/15/2030 0.99%
Asset Allocation
Weighting | Return Low | Return High | NOTEX % Rank | |
---|---|---|---|---|
Bonds | 99.97% | 0.00% | 150.86% | 22.77% |
Cash | 6.03% | -50.86% | 44.62% | 6.53% |
Stocks | 0.00% | 0.00% | 99.78% | 91.61% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 91.01% |
Other | 0.00% | -3.69% | 51.88% | 86.21% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 90.70% |
Bond Sector Breakdown
Weighting | Return Low | Return High | NOTEX % Rank | |
---|---|---|---|---|
Municipal | 92.25% | 44.39% | 100.00% | 89.77% |
Cash & Equivalents | 6.03% | 0.00% | 44.41% | 5.40% |
Derivative | 0.00% | -3.69% | 51.88% | 81.15% |
Securitized | 0.00% | 0.00% | 5.93% | 90.97% |
Corporate | 0.00% | 0.00% | 9.41% | 92.11% |
Government | 0.00% | 0.00% | 52.02% | 92.58% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | NOTEX % Rank | |
---|---|---|---|---|
US | 99.97% | 0.00% | 142.23% | 21.72% |
Non US | 0.00% | 0.00% | 23.89% | 90.67% |
NOTEX - Expenses
Operational Fees
NOTEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.50% | 0.01% | 8.02% | 83.33% |
Management Fee | 0.43% | 0.00% | 1.20% | 50.33% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | 82.77% |
Sales Fees
NOTEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
NOTEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
NOTEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 86.00% | 0.00% | 283.00% | 98.11% |
NOTEX - Distributions
Dividend Yield Analysis
NOTEX | Category Low | Category High | NOTEX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.39% | 0.00% | 14.51% | 25.50% |
Dividend Distribution Analysis
NOTEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
NOTEX | Category Low | Category High | NOTEX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.93% | -0.53% | 5.33% | 51.85% |
Capital Gain Distribution Analysis
NOTEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 24, 2024 | $0.027 | OrdinaryDividend |
Sep 24, 2024 | $0.026 | OrdinaryDividend |
Aug 26, 2024 | $0.030 | OrdinaryDividend |
Mar 25, 2024 | $0.026 | OrdinaryDividend |
Feb 26, 2024 | $0.030 | OrdinaryDividend |
Jan 25, 2024 | $0.032 | OrdinaryDividend |
Dec 21, 2023 | $0.027 | OrdinaryDividend |
Oct 24, 2023 | $0.030 | OrdinaryDividend |
Sep 21, 2023 | $0.025 | OrdinaryDividend |
Aug 24, 2023 | $0.028 | OrdinaryDividend |
Jul 24, 2023 | $0.030 | OrdinaryDividend |
Jun 22, 2023 | $0.027 | OrdinaryDividend |
May 24, 2023 | $0.028 | OrdinaryDividend |
Apr 24, 2023 | $0.029 | OrdinaryDividend |
Mar 23, 2023 | $0.026 | OrdinaryDividend |
Feb 23, 2023 | $0.027 | OrdinaryDividend |
Jan 24, 2023 | $0.037 | OrdinaryDividend |
Dec 15, 2022 | $0.021 | OrdinaryDividend |
Nov 22, 2022 | $0.026 | OrdinaryDividend |
Oct 24, 2022 | $0.028 | OrdinaryDividend |
Sep 22, 2022 | $0.025 | OrdinaryDividend |
Aug 24, 2022 | $0.028 | OrdinaryDividend |
Jul 21, 2022 | $0.022 | OrdinaryDividend |
Jun 23, 2022 | $0.023 | OrdinaryDividend |
May 24, 2022 | $0.025 | OrdinaryDividend |
Apr 21, 2022 | $0.019 | OrdinaryDividend |
Mar 24, 2022 | $0.016 | OrdinaryDividend |
Feb 28, 2022 | $0.019 | OrdinaryDividend |
Jan 24, 2022 | $0.023 | OrdinaryDividend |
Dec 16, 2021 | $0.052 | OrdinaryDividend |
Nov 23, 2021 | $0.017 | OrdinaryDividend |
Oct 25, 2021 | $0.018 | OrdinaryDividend |
Sep 23, 2021 | $0.017 | OrdinaryDividend |
Aug 24, 2021 | $0.016 | OrdinaryDividend |
Jul 26, 2021 | $0.018 | OrdinaryDividend |
Jun 24, 2021 | $0.017 | OrdinaryDividend |
May 24, 2021 | $0.019 | OrdinaryDividend |
Apr 22, 2021 | $0.017 | OrdinaryDividend |
Mar 24, 2021 | $0.016 | OrdinaryDividend |
Feb 24, 2021 | $0.017 | OrdinaryDividend |
Jan 25, 2021 | $0.023 | OrdinaryDividend |
Dec 17, 2020 | $0.056 | OrdinaryDividend |
Nov 24, 2020 | $0.018 | OrdinaryDividend |
Oct 26, 2020 | $0.020 | OrdinaryDividend |
Sep 24, 2020 | $0.020 | OrdinaryDividend |
Aug 24, 2020 | $0.021 | OrdinaryDividend |
Jul 23, 2020 | $0.021 | OrdinaryDividend |
Jun 24, 2020 | $0.021 | OrdinaryDividend |
May 26, 2020 | $0.024 | OrdinaryDividend |
Apr 23, 2020 | $0.022 | OrdinaryDividend |
Mar 24, 2020 | $0.022 | OrdinaryDividend |
Feb 24, 2020 | $0.024 | OrdinaryDividend |
Jan 23, 2020 | $0.027 | OrdinaryDividend |
Dec 19, 2019 | $0.001 | OrdinaryDividend |
Dec 19, 2019 | $0.029 | CapitalGainShortTerm |
Nov 21, 2019 | $0.001 | OrdinaryDividend |
Oct 24, 2019 | $0.002 | OrdinaryDividend |
Sep 24, 2019 | $0.002 | OrdinaryDividend |
Aug 26, 2019 | $0.002 | OrdinaryDividend |
Jul 24, 2019 | $0.002 | OrdinaryDividend |
Dec 19, 2013 | $0.110 | CapitalGainShortTerm |
Dec 19, 2013 | $0.030 | CapitalGainLongTerm |
Dec 19, 2012 | $0.198 | CapitalGainShortTerm |
Dec 19, 2012 | $0.086 | CapitalGainLongTerm |
Dec 21, 2010 | $0.120 | CapitalGainShortTerm |
Dec 21, 2010 | $0.070 | CapitalGainLongTerm |
Dec 21, 2009 | $0.010 | CapitalGainLongTerm |
Dec 19, 2007 | $0.023 | CapitalGainShortTerm |
Dec 19, 2007 | $0.007 | CapitalGainLongTerm |
Dec 19, 2006 | $0.050 | CapitalGainShortTerm |
Dec 19, 2006 | $0.055 | CapitalGainLongTerm |
Dec 20, 2005 | $0.029 | CapitalGainShortTerm |
Dec 20, 2005 | $0.028 | CapitalGainLongTerm |
Dec 20, 2004 | $0.090 | CapitalGainShortTerm |
Dec 20, 2004 | $0.090 | CapitalGainLongTerm |
Dec 18, 2003 | $0.049 | CapitalGainShortTerm |
Dec 18, 2003 | $0.050 | CapitalGainLongTerm |
Dec 19, 2002 | $0.129 | CapitalGainShortTerm |
Dec 19, 2002 | $0.039 | CapitalGainLongTerm |
Dec 14, 1999 | $0.011 | CapitalGainShortTerm |
Dec 14, 1999 | $0.005 | CapitalGainLongTerm |
Dec 23, 1998 | $0.103 | CapitalGainShortTerm |
Dec 23, 1998 | $0.131 | CapitalGainLongTerm |
Dec 24, 1997 | $0.023 | CapitalGainShortTerm |
Dec 24, 1997 | $0.058 | CapitalGainLongTerm |
Dec 24, 1996 | $0.009 | CapitalGainShortTerm |
Dec 24, 1996 | $0.044 | CapitalGainLongTerm |
Dec 18, 1995 | $0.030 | OrdinaryDividend |
NOTEX - Fund Manager Analysis
Managers
Timothy McGregor
Start Date
Tenure
Tenure Rank
Nov 30, 1998
23.52
23.5%
Timothy T.A. McGregor, Senior Vice President of Northern Trust Investments, Inc. Mr. McGregor has been manager for the Tax-Exempt Fund since November 1998 and has been manager for the Intermediate Tax-Exempt Fund since November 2000. Mr. McGregor joined Northern Trust Investments, Inc. in 1989 and has managed various municipal bond portfolios.
Frederick Azar
Start Date
Tenure
Tenure Rank
Oct 23, 2018
3.61
3.6%
Fred A. Azar, Vice President of Northern Trust, is a portfolio manager in the tax-exempt fixed income group of Northern Trust Asset Management. In June 2018 he moved into his current role as manager of the Northern Arizona Tax-Exempt Fund, the Northern California Intermediate Tax-Exempt Fund, and the Northern California Tax-Exempt Fund. Mr. Azar joined Northern Trust in 2004. He has had previous positions as the Director of Fixed Income Business Management, Director of Core Strategies, and Senior Portfolio Manager in Short Duration Fixed Income. He began his career in 1991 with Harris Bank. Fred received a B.S. degree in Accounting and Business Administration and an M.B.A. from the University of Kansas. He is also a Certified Public Accountant .
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.35 | 1.58 |