MUNAvsCAIEETF Comparison
ETF 1
MUNA
Northern Trust 2030 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.15%
VS
Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) and Calamos Autocallable Income ETF (CAIE) have similar underlying exposures to countries and sectors. MUNA's top 1 sector exposures are Municipal. In contrast, CAIE's top sector exposures are Sovereign. MUNA is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.74% for CAIE. MUNA is up 0.94% year-to-date (YTD) with +$2M in YTD flows. CAIE performs better with 8.77% YTD performance, and +$799M in YTD flows. Run a side-by-side ETF comparison of MUNA and CAIE 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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MUNA vs CAIE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNA CAIE | -0.40%-2.34% | -0.13%+2.33% | +0.94%+8.77% | +0.90%+13.51% | n/an/a | n/an/a |
| Flows | MUNA CAIE | -+$115M | +$3K+$357M | +$2M+$799M | +$3M+$1.15B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNA CAIE | +0.87%+10.15% | +0.89%+11.13% | n/an/a | n/an/a |
| Max drawdown | MUNA CAIE | -0.53%-3.02% | -0.85%-7.22% | n/an/a | n/an/a |
| Max drawdown duration | MUNA CAIE | 17d16d | 97d91d | n/an/a | n/an/a |
Trading data
MUNA | CAIE | |
Last sale 9/14/2026 at 1:46 PM | $99.57 | $26.57 |
| Previous close 09/11/2026 | $99.57 | $26.66 |
| Consolidated volume 09/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/14/2026 at 1:46 PM
Live
Closed
MUNA | CAIE | |
|---|---|---|
| Last price | $99.57 | $26.57 |
| 1D performance | +0.00% | -0.34% |
| AuM | $7.96 M | $1.30 B |
| E/R | 0.18% | 0.74% |
Characteristics
MUNA | CAIE | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | FlexShares | Calamos Investments |
| Benchmark | - | - |
| N° of holdings | 32 | 2 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | June 25, 2025 |
| ESG | No | No |
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Exposure
Countries
MUNA
USA
13.64%
Other
86.36%
CAIE
USA
13.56%
Other
86.44%
Sectors
MUNA
Municipal
13.64%
Other
86.36%
CAIE
Sovereign
13.56%
Other
86.44%
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Diversification
MUNA
Total weight of top 15 holdings out of 15
18.39%
CAIE
Total weight of top 2 holdings out of 2
92.88%
Top 15 holdings
Data as of July 31, 2026
MUNA
US213651MR06
2.07%
US64327TKP20
2.01%
US407287MS70
1.49%
US749845M592
1.26%
State of Ohio, 5% 1oct2027, USD (2019B)
1.14%
US564395TS05
1.14%
US662523P864
1.14%
US228485LT39
1.10%
US812643UL69
1.08%
Maryland, 5% 1aug2028, USD
1.05%
US735422NS20
1.01%
US425507HH68
1.00%
US577625T632
0.98%
US92937NDC56
0.97%
South Carolina Transportation Infrasructure Bank, 5% 1oct2026, USD (2021B)
0.95%
CAIE
US12811T5149
79.32%
USA, Bills 0% 7jan2027, USD (182D)
13.56%
Frequently asked questions about MUNA and CAIE
How have the MUNA and CAIE ETFs performed in 2026?
As of September 11, 2026, MUNA is up 0.94% year-to-date (YTD), while CAIE has returned 8.77%. That puts CAIE better performer ahead so far this year.
Which ETF is attracting more investor money: MUNA or CAIE?
Year-to-date, the MUNA ETF saw +$2M in flows, compared to +$799M for CAIE.
Which ETF is more volatile: MUNA or CAIE?
Over the past year, MUNA had a volatility of 0.89%, while CAIE experienced 11.13%.
Which ETF is bigger: MUNA or CAIE?
As of September 11, 2026, MUNA holds $7.96 M in assets under management (AUM), while CAIE manages $1.30 B.
What sectors do the MUNA and CAIE ETFs invest in?
MUNA leans toward sectors like Municipal. Meanwhile, CAIE focuses on Sovereign.
What are the top holdings of the MUNA ETF and CAIE ETF?
MUNA top holdings include US213651MR06, US64327TKP20 and US407287MS70. CAIE holds in its top three: US12811T5149 and USA, Bills 0% 7jan2027, USD (182D).
Which ETF is more diversified: MUNA or CAIE?
MUNA holds 227 securities with 18.39% of its assets in the top 15. CAIE has 2 securities.
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Latest news about MUNA & CAIE
There’s an ETF for That? Box Spreads
August 27, 2026
CAIE
Innovations in Swap Based ETFs: Beyond Just Leverage
February 27, 2026
CAIE
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Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNA
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNA
Ask the Manager: Jordan Rosenfeld on CAIE Momentum, Investor Conviction and Market Impact
January 8, 2026
CAIE
Autocallables: The Next Generation of Equity Income ETFs
November 20, 2025
CAIE
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