MUNB – Northern Trust 2035 Tx-Exm Dis Lddr ETF – ETF Investment Strategy | Morningstar

Morningstar

Strategy

The investment seeks to provide periodic distributions consisting of income exempt from regular federal income tax and/or principal through 2035. Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt instruments that pay interest that is exempt from regular federal income tax (“tax-exempt bonds”). The fund primarily invests in investment grade tax-exempt bonds that are rated within the top three rating categories by a NRSRO or of comparable quality as determined by NTI. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
MUNB	Northern Trust 2035 Tax-Exempt Distributing Ladder ETF	ETF	Open	—	—	Aug 18, 2025	$13.88M	0.180%	—	—	$8.99M

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