FTMNvsMUNCETF Comparison
VS
ETF 2
MUNC
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
-0.12%
Franklin Minnesota Municipal Income ETF (FTMN) and Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) have similar underlying exposures to countries and sectors. They also belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. FTMN is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.18% for MUNC. FTMN is down -1.71% year-to-date (YTD) with +$118M in YTD flows. MUNC performs better with -0.42% YTD performance, and -$2M in YTD flows. Run a side-by-side ETF comparison of FTMN and MUNC below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FTMN vs MUNC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTMN MUNC | -0.63%-0.13% | -2.23%-1.37% | -1.71%-0.42% | n/a+3.43% | n/an/a | n/an/a |
| Flows | FTMN MUNC | +$95M- | +$93M- | +$118M-$2M | --$2M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMN MUNC | +3.19%+2.23% | n/a+2.38% | n/an/a | n/an/a |
| Max drawdown | FTMN MUNC | -3.07%-2.01% | n/a-3.05% | n/an/a | n/an/a |
| Max drawdown duration | FTMN MUNC | 62d56d | n/a183d | n/an/a | n/an/a |
Trading data
FTMN | MUNC | |
Last sale 9/1/2026 at 1:30 PM | $8.57 | $99.58 |
| Previous close 08/31/2026 | $8.65 | $100.29 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
FTMN | MUNC | |
|---|---|---|
| Last price | $8.57 | $99.58 |
| 1D performance | -0.92% | -0.71% |
| AuM | $285.76 M | $8.03 M |
| E/R | 0.35% | 0.18% |
Characteristics
FTMN | MUNC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | FlexShares |
| Benchmark | - | - |
| N° of holdings | 24 | 20 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 10, 2025 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
FTMN
USA
15.9%
Other
84.1%
MUNC
USA
15.7%
Other
84.3%
Sectors
FTMN
Municipal
15.9%
Other
84.1%
MUNC
Municipal
15.7%
Other
84.3%
Diversification
FTMN
Total weight of top 15 holdings out of 15
26.6%
MUNC
Total weight of top 15 holdings out of 15
32.28%
Top 15 holdings
Data as of July 31, 2026
FTMN
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
2.72%
US60416JDA51
2.47%
Minneapolis, 4% 15nov2040, USD
2.23%
US604140XU23
1.97%
US603767PE84
1.86%
US958697KL75
1.85%
US0363034T98
1.71%
US604140XV06
1.69%
US425507LC26
1.66%
US425533CN48
1.64%
US819190VY24
1.54%
US60416JHN37
1.49%
Minnesota Agricultural and Economic Development Board, 5.25% 1jan2054, USD (2024)
1.33%
US852297DB34
1.22%
Minneapolis, 5% 15nov2034, USD
1.20%
MUNC
Utility Debt Securitization Authority, 5% 15dec2029, USD (2022)
3.34%
US866849W400
3.25%
US544532CU63
3.23%
US930864JG97
3.03%
US64613CAZ14
2.62%
US562895XK30
2.54%
US05914GFN34
1.92%
US153480AJ70
1.86%
US315361MP77
1.84%
Greater Chicago Metropolitan Water Reclamation District, 5.25% 1dec2035, USD
1.71%
US216181GE19
1.44%
US812670DV64
1.42%
US779240RF94
1.39%
US749030EE89
1.37%
US79289ABY82
1.35%
Frequently asked questions about FTMN and MUNC
How have the FTMN and MUNC ETFs performed in 2026?
As of August 31, 2026, FTMN is down -1.71% year-to-date (YTD), while MUNC has lost -0.42%. That puts MUNC better performer ahead so far this year.
Which ETF is attracting more investor money: FTMN or MUNC?
Year-to-date, the FTMN ETF saw +$118M in flows, compared to -$2M for MUNC.
Which ETF is bigger: FTMN or MUNC?
As of August 31, 2026, FTMN holds $285.76 M in assets under management (AUM), while MUNC manages $8.03 M.
What sectors do the FTMN and MUNC ETFs invest in?
FTMN leans toward sectors like Municipal. Meanwhile, MUNC focuses on Municipal.
What are the top holdings of the FTMN ETF and MUNC ETF?
FTMN top holdings include Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A), US60416JDA51 and Minneapolis, 4% 15nov2040, USD. MUNC holds in its top three: Utility Debt Securitization Authority, 5% 15dec2029, USD (2022), US866849W400 and US544532CU63.
Which ETF is more diversified: FTMN or MUNC?
FTMN holds 191 securities with 26.6% of its assets in the top 15. MUNC has 152 securities and a top 15 weight of 32.28%.
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Latest news about FTMN & MUNC
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNC
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