Morningstar

Northern Tax-Exempt Fund NOTEX

Morningstar Medalist Rating
Medalist Rating as of | See Northern Trust Investment Hub
  • NAV / 1-Day Return 9.57  /  0.00
  • Total Assets 771.0M
  • Adj. Expense Ratio
    0.460%
  • Expense Ratio 0.450%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category Muni National Long
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 3.66%
  • Effective Duration 6.80 years

USD | NAV as of Jun 12, 2026 | 1-Day Return as of Jun 12, 2026, 12:35 AM GMT+0

Morningstar’s Analysis NOTEX

Will NOTEX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NOTEX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the NOTEX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of NOTEX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Northern Tax-Exempt holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
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Portfolio Holdings NOTEX

More NOTEX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 7.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV 5%

0.85 6M
municipal

TRIBOROUGH BRDG & TUNL AUTH N Y REAL ESTATE TRANSFER TAX REV 5%

0.85 6M
municipal

KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 5.25%

0.83 6M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

0.83 6M
municipal

NEW YORK N Y 3.65%

0.79 6M
municipal

BROWARD CNTY FLA SCH BRD CTFS PARTN 5%

0.77 6M
municipal

MIAMI-DADE CNTY FLA SEAPORT REV 3%

0.72 5M
municipal

SALT LAKE CITY UTAH ARPT REV 5%

0.70 5M
municipal

MASSACHUSETTS ST 5.25%

0.69 5M
municipal

NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 5%

0.69 5M
municipal

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