ETF Evaluator:
NT NY Intermediate Tax-Exempt Bond ETF (TXNY)
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(as of Oct 09)
Best Performing in Muni New York Intermediate Over the Last Year
| -0.7% | Goldman Sachs Dynamic New Yor Mun IncETF (GMNY) |
| -1.8% | Muni New York Intermediate () |
| -2.3% | Vanguard New York Tx-Exm Bd ETF (MUNY) |
| -2.5% | JPMorgan New York Tax Free Bond ETF (JTNY) |
| 0.0% | NT NY Intermediate Tax-Exempt Bond ETF (TXNY) |
Risk
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Risk
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ETF Details
NT NY Intermediate Tax-Exempt Bond ETF Overview
NT NY Intermediate Tax-Exempt Bond ETF (TXNY) is a passively managed Municipal Bond Muni New York Intermediate exchange-traded fund (ETF). Northern Trust launched the ETF in 2026.
The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE New York Intermediate Term Focused Municipal Bond index.
Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in New York tax‑exempt bonds. It is non-diversified.
About NT NY Intermediate Tax-Exempt Bond ETF (TXNY)
There are 3 members of the management team with an average tenure of 0.02 years: Brian Sipich (2026), Melissa Smith (2026) and Timothy Blair (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: ICE New YorkIntrmdtTrmFcsdMncplBd TR USD index with a weighting of 100%. NT NY Intermediate Tax-Exempt Bond ETF has 196 securities in its portfolio. The top 10 holdings constitute 10.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
NT NY Intermediate Tax-Exempt Bond ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. NT NY Intermediate Tax-Exempt Bond ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.5% (98.5% domestic bond, 0.0% foreign bond and 0.0% convertible bond). NT NY Intermediate Tax-Exempt Bond ETF has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $7 million in total assets, which is below the $254 million average for the Muni New York Intermediate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TXNY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NT NY Intermediate Tax-Exempt Bond ETF expense ratio is low compared to funds in the Muni New York Intermediate category. NT NY Intermediate Tax-Exempt Bond ETF has an expense ratio of 0.09%, which is 56% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. NT NY Intermediate Tax-Exempt Bond ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 54% for the Muni New York Intermediate category.
Recently, in the month of September 2026, NT NY Intermediate Tax-Exempt Bond ETF returned 0.0%, which earned it a grade of NA, as the Muni New York Intermediate category had an average return of -3.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
NT NY Intermediate Tax-Exempt Bond ETF has a trailing yield of 0.00%, which is below the 3.46% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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TXNY Trailing NAV Total Returns Data as of 9/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TXNY Return (NAV) | na | na | na | na | na | na |
| TXNY Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Muni New York Intermediate Avg | -3.6% | -5.2% | -1.8% | 2.3% | 0.0% | 1.1% |
| TXNY Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| TXNY Tax-Cost Ratio | na | na | na | na | na | na |
TXNY Annual NAV Total ReturnsData as of 9/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TXNY Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| TXNY Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Muni New York Intermediate Avg | -3.2% | 3.4% | 1.5% | 4.8% | -6.0% | 0.7% | 3.6% | 6.0% | 0.9% | 3.0% | -0.1% |
| TXNY Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 7 Mil |
| Share Class Assets: | $ 7 Mil |
| Turnover: | na |
| Expense Ratio: | 0.09% |
| Index Fund: | Yes |
| Index Tracked: | ICE New YorkIntrmdtTrmFcsdMncplBd TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.0 years | |||
| Average Tenure: 0.0 years | |||
| Managers (Year): Sipich Brian (2026), Smith Melissa (2026), Blair Timothy (2026) | |||
Portfolio Composition (as of 9/30/26)
| # of Holdings: | 196 |
| % in Top 10 Holdings: | 10.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 98.5% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Northern Trust |
| Phone Number: | 855-353-9383 |
| Website: | www.northernfunds.com |
| Inception Date: | September 22, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.09% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.21% |
