Northern Trust Files Tax-Aware Ultra-Short ETF for Fund Reorganization

Northern Trust has filed for the Northern Trust Tax-Advantaged Ultra-Short Income ETF, which is expected to receive the assets of the Tax-Advantaged Ultra-Short Fixed Income Fund through a planned reorganization on March 5, 2027. The actively managed ETF will seek to maximize after-tax returns by comparing opportunities across taxable and tax-exempt fixed-income securities. It will invest at least 80% of assets in fixed income and currently expects at least 50% of total assets to be allocated to municipal securities and related investments. The portfolio will generally maintain a six- to 18-month average maturity, with Northern Trust using relative-value analysis to identify attractive opportunities on an after-tax basis.