Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) is an exchange-traded fund in the Muni Target Maturity category. It has $13.59M in assets, an expense ratio of 0.18% and a 2.43% dividend yield. 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.