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Northern Trust to move $33B in mutual funds into ETFs in 2027

The conversions will introduce single-ETF fees that match or undercut the mutual funds’ current expense levels.

Reported · Written up by our desk · ETFs

Northern Trust Asset Management plans to convert six mutual funds into ETFs in early 2027, the firm announced. The six funds hold a combined $33 billion, according to ETF Trends.

The first conversions are scheduled between January and March 2027, and each new ETF will charge a single fee level that matches or undercuts the mutual funds’ current expenses. The firm said the switch would more than double its ETF business.

Once completed, Northern Trust said it would manage $27 billion in ETFs as of June 30, including a large position concentrated in its Northern Stock Index Fund, which holds $19.3 billion. That fund is set to become the Northern Trust MSCI US 500 ETF.

ETF Trends also said the Northern International Equity Index Fund, with $6.7 billion in assets, will convert to the Northern Trust MSCI EAFE ETF covering developed markets outside the U.S. and Canada. Northern Trust’s $2.8 billion Northern Tax-Advantaged Ultra-Short Fixed Income Fund will also convert, investing in tax-exempt municipal bonds under a new ETF structure, the outlet reported.

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