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Trending ETFs

Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.89

$488 M

2.35%

$0.23

0.51%

Vitals

YTD Return

-0.1%

1 yr return

1.4%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

0.9%

Net Assets

$488 M

Holdings in Top 10

13.4%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 94.18%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.89

$488 M

2.35%

$0.23

0.51%

NSITX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.87%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    LIMITED TERM TAX-EXEMPT FUND
  • Fund Family Name
    Northern Trust
  • Inception Date
    Aug 22, 2007
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Colby

Fund Description

In seeking high current income exempt from regular federal income tax, the Fund will invest in municipal instruments. A municipal instrument is a fixed-income obligation issued by a state, territory or possession of the United States (including the District of Columbia) or a political subdivision, agency or instrumentality thereof. Interest income received by holders of municipal instruments is often exempt from the federal income tax and from the income tax of the state in which they are issued, although municipal instruments issued for certain purposes may not be tax‑exempt. The municipal instruments in which the Fund invests may include:
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.
The Fund primarily invests in investment grade debt obligations (i.e., obligations rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (“NRSRO”) or of comparable quality as determined by NTI). However, it may invest up to 15% of its net assets in obligations that are rated below-investment grade (commonly referred to as “junk bonds”). Credit ratings are determined at the time of purchase.
Except in extraordinary circumstances, at least 80% of the Fund’s net assets will be invested in debt instruments that pay interest that is exempt from regular federal income tax. Alternative minimum tax (“AMT”) obligations (also known as “private activity bonds”), which pay interest that may be treated as an item of tax preference to shareholders under the federal AMT, will not be deemed to be eligible debt instruments for the purposes of determining whether the Fund meets this policy. For shareholders subject to AMT, a portion of the Fund’s dividends may be subject to federal tax.
In buying and selling securities for the Fund, NTI uses a relative value approach. This approach involves an analysis of general economic and market conditions. It also involves the use of models that analyze and compare expected returns and assumed risks. Under the relative value approach, NTI will emphasize particular securities and types of securities (such as general obligation bonds, corporate-backed municipal bonds and revenue obligation bonds) that NTI believes will provide a favorable return in light of these risks. NTI may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund.
The Fund’s dollar-weighted average maturity, under normal circumstances, will range from at least one year to less than six years.
In seeking to achieve its investment objective, the Fund may make significant investments in structured securities and also may invest, to a lesser extent, in futures contracts, options and swaps, all of which are considered to be derivative instruments, for both hedging and non‑hedging purposes.
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NSITX - Performance

Return Ranking - Trailing

Period NSITX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.4% 12.5% 65.70%
1 Yr 1.4% -2.6% 37.8% 93.34%
3 Yr -0.1%* -10.1% 3.1% 20.56%
5 Yr 0.9%* -5.6% 1103.2% 56.79%
10 Yr 1.0%* -0.2% 248.4% 87.66%

* Annualized

Return Ranking - Calendar

Period NSITX Return Category Return Low Category Return High Rank in Category (%)
2023 1.1% -1.4% 41.0% 93.46%
2022 -4.6% -39.7% 0.3% 7.62%
2021 -1.8% -5.6% 6.9% 96.49%
2020 0.7% -2.6% 310.0% 88.78%
2019 1.6% 0.0% 26.0% 94.31%

Total Return Ranking - Trailing

Period NSITX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.4% 12.5% 65.70%
1 Yr 1.4% -2.6% 37.8% 93.34%
3 Yr -0.1%* -10.1% 3.1% 20.56%
5 Yr 0.9%* -5.6% 1103.2% 56.79%
10 Yr 1.0%* -0.2% 248.4% 87.66%

* Annualized

Total Return Ranking - Calendar

Period NSITX Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -1.3% 41.0% 96.96%
2022 -3.3% -39.7% 1.1% 6.90%
2021 -0.1% -4.8% 23761504.0% 89.81%
2020 3.5% -1.5% 17057.9% 61.39%
2019 3.1% 0.2% 3514.6% 93.07%

NAV & Total Return History


NSITX - Holdings

Concentration Analysis

NSITX Category Low Category High NSITX % Rank
Net Assets 488 M 3.48 M 68.1 B 46.29%
Number of Holdings 210 2 12848 55.80%
Net Assets in Top 10 62.1 M -317 M 3.4 B 57.15%
Weighting of Top 10 13.36% 1.9% 100.4% 71.50%

Top 10 Holdings

  1. KY KYSPWR 01/01/2049 1.88%
  2. AL BBEUTL 05/01/2053 1.80%
  3. MN MNS 5 09/01/2027 1.41%
  4. NY NYSTRN 5 03/15/2029 1.22%
  5. NY NYSDEV 5 09/15/2028 1.20%
  6. MA MAS 5 09/01/2027 1.18%
  7. TX GRASCD 4 02/15/2033 1.18%
  8. DC METAPT 5 10/01/2026 1.17%
  9. NY TRBTRN 5 05/15/2027 1.17%
  10. OH OHS 5 05/01/2028 1.15%

Asset Allocation

Weighting Return Low Return High NSITX % Rank
Bonds
98.65% 0.00% 150.86% 50.10%
Cash
1.35% -50.86% 50.09% 46.01%
Stocks
0.00% 0.00% 99.80% 88.67%
Preferred Stocks
0.00% 0.00% 0.52% 62.56%
Other
0.00% -8.54% 33.35% 62.56%
Convertible Bonds
0.00% 0.00% 0.93% 62.48%

Bond Sector Breakdown

Weighting Return Low Return High NSITX % Rank
Municipal
98.24% 44.39% 100.00% 52.13%
Cash & Equivalents
0.69% 0.00% 48.02% 33.63%
Derivative
0.00% -8.54% 23.38% 60.76%
Securitized
0.00% 0.00% 5.93% 63.20%
Corporate
0.00% 0.00% 9.41% 67.59%
Government
0.00% 0.00% 52.02% 64.94%

Bond Geographic Breakdown

Weighting Return Low Return High NSITX % Rank
US
98.65% 0.00% 142.23% 47.49%
Non US
0.00% 0.00% 23.89% 90.01%

NSITX - Expenses

Operational Fees

NSITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.01% 20.65% 81.68%
Management Fee 0.43% 0.00% 1.20% 51.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% 86.17%

Sales Fees

NSITX 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

NSITX 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.

NSITX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 94.18% 0.00% 283.00% 98.25%

NSITX - Distributions

Dividend Yield Analysis

NSITX Category Low Category High NSITX % Rank
Dividend Yield 2.35% 0.00% 14.36% 86.61%

Dividend Distribution Analysis

NSITX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NSITX Category Low Category High NSITX % Rank
Net Income Ratio 0.87% -0.53% 5.33% 90.22%

Capital Gain Distribution Analysis

NSITX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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NSITX - Fund Manager Analysis

Managers

Scott Colby


Start Date

Tenure

Tenure Rank

May 09, 2018

4.06

4.1%

Scott Colby, Officer of Northern Trust, is a portfolio manager in the tax-exempt fixed income group of Northern Trust Global Investments and manages the Northern Short-Intermediate Tax-Exempt Fund. Mr. Colby joined Northern Trust in June 2005. He joined the Tax-Exempt fixed group in April 2006 and moved into his current role as a portfolio manager in January 2013. Mr. Colby a B.A. degree in finance at Tulane University. He is an active CFA Charterholder and a member of the CFA Institute and the CFA Society of Chicago.

Reid Frankenberg


Start Date

Tenure

Tenure Rank

Oct 23, 2018

3.61

3.6%

Northern Trust Investments, Inc.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58