ETF Evaluator:
Northern Trust 2045 Inf-Lnk Dis Ldd ETF ()
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(as of Aug 26)
Best Performing in Target Maturity Over the Last Year
| 6.0% | iShares iBonds 2030 Term Hi Yld & IncETF (IBHJ) |
| 5.6% | Invesco BulletShares 2030 HY Corp Bd ETF (BSJU) |
| 5.4% | iShares iBonds 2029 Term HY & Inc ETF (IBHI) |
| 5.3% | iShares iBonds 2028 Term HY & Inc ETF (IBHH) |
| 5.2% | Invesco BulletShares 2028 HY Corp Bd ETF (BSJS) |
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ETF Details
Northern Trust 2045 Inf-Lnk Dis Ldd ETF Overview
Northern Trust 2045 Inf-Lnk Dis Ldd ETF (TIPC) is an actively managed Taxable Bond Target Maturity exchange-traded fund (ETF). Northern Trust launched the ETF in 2025.
The investment seeks to provide periodic inflation-linked distributions through U.S. Treasury Inflation Protected Securities (commonly known as “TIPS”), consisting of income and/or principal through 2045.
Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in inflation-linked securities. The fund is non-diversified. The fund is non-diversified.
About Northern Trust 2045 Inf-Lnk Dis Ldd ETF (TIPC)
There are 3 members of the management team with an average tenure of 0.95 years: David Alongi (2025), Michael Chico (2025) and Timothy Blair (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Northern Trust 2045 Inf-Lnk Dis Ldd ETF has 17 securities in its portfolio. The top 10 holdings constitute 72.6% 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.
Northern Trust 2045 Inf-Lnk Dis Ldd ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Northern Trust 2045 Inf-Lnk Dis Ldd 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 94.1% (94.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Northern Trust 2045 Inf-Lnk Dis Ldd ETF has 5.9% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $585 million average for the Target Maturity 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.
TIPC 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 Northern Trust 2045 Inf-Lnk Dis Ldd ETF expense ratio is low compared to funds in the Target Maturity category. Northern Trust 2045 Inf-Lnk Dis Ldd ETF has an expense ratio of 0.10%, which is 38% lower than its category average, making the fund expense ratio grade a B. 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. Northern Trust 2045 Inf-Lnk Dis Ldd ETF has a portfolio turnover rate of 1%, which indicates that it holds its assets around / 0.8 years. By way of comparison, the average portfolio turnover is 40% for the Target Maturity category.
Recently, in the month of July 2026, Northern Trust 2045 Inf-Lnk Dis Ldd ETF returned -1.4%, which earned it a grade of D, as the Target Maturity category had an average return of -0.8%. 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.
Northern Trust 2045 Inf-Lnk Dis Ldd ETF has a trailing yield of 0.00%, which is below the 5.56% 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.
Northern Trust 2045 Inf-Lnk Dis Ldd ETF Grades
Year to date, the ETF has returned -0.4%, 0.6 percentage points worse than the category, which translates into a grade of D.
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TIPC Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TIPC Return (NAV) | -1.4% | -1.4% | na | na | na | na |
| TIPC Return (Price) | -1.6% | -1.3% | na | na | na | na |
| NAV +/- Price Return | 0.288% | -0.125% | na | na | na | na |
| Target Maturity Avg | -0.8% | -0.4% | 3.1% | 5.7% | 1.2% | na |
| TIPC Grade (NAV) | D | F | na | na | na | na |
| +/- Category (NAV) | -0.5% | -1.0% | na | na | na | na |
| TIPC Tax-Cost Ratio | na | na | na | na | na | na |
TIPC Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TIPC Return (NAV) | -0.4% | na | na | na | na | na | na | na | na | na | na |
| TIPC Return (Price) | -0.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.814% | na | na | na | na | na | na | na | na | na | na |
| Target Maturity Avg | 0.2% | 7.4% | 4.1% | 8.3% | -11.8% | -1.1% | 8.8% | 15.4% | -2.6% | 5.7% | na |
| TIPC Grade (NAV) | D | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.6% | 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: | $ 3 Mil |
| Share Class Assets: | $ 3 Mil |
| Turnover: | 1.2% |
| Expense Ratio: | 0.10% |
| Index Fund: | No |
| Index Tracked: | N/A |
| 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: 1.0 years | |||
| Average Tenure: 1.0 years | |||
| Managers (Year): Alongi David (2025), Chico Michael (2025), Blair Timothy (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 17 |
| % in Top 10 Holdings: | 72.6% |
| 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: | 94.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Northern Trust |
| Phone Number: | 855-353-9383 |
| Website: | www.northernfunds.com |
| Inception Date: | August 18, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.10% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.16% |
