MUNAvsCAIQETF Comparison
ETF 1
MUNA
Northern Trust 2030 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
-0.02%
VS
Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) and Calamos Nasdaq Autocallable Income ETF (CAIQ) have similar underlying exposures to countries and sectors. MUNA's top 1 sector exposures are Municipal. In contrast, CAIQ's top sector exposures are Sovereign. MUNA is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.86% for CAIQ. MUNA is up 0.96% year-to-date (YTD) with +$2M in YTD flows. CAIQ performs better with 11.33% YTD performance, and +$315M in YTD flows. Run a side-by-side ETF comparison of MUNA and CAIQ 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 CAIQ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNA CAIQ | -0.41%-2.28% | -0.15%-1.83% | +0.96%+11.33% | +0.87%n/a | n/an/a | n/an/a |
| Flows | MUNA CAIQ | -+$36M | +$3K+$138M | +$2M+$315M | +$3M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNA CAIQ | +0.88%+11.83% | +0.90%n/a | n/an/a | n/an/a |
| Max drawdown | MUNA CAIQ | -0.53%-5.79% | -0.85%n/a | n/an/a | n/an/a |
| Max drawdown duration | MUNA CAIQ | 20d58d | 97dn/a | n/an/a | n/an/a |
Trading data
MUNA | CAIQ | |
Last sale 9/15/2026 at 1:30 PM | $99.52 | $25.06 |
| Previous close 09/14/2026 | $99.52 | $25.19 |
| Consolidated volume 09/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/15/2026 at 1:30 PM
Live
Closed
MUNA | CAIQ | |
|---|---|---|
| Last price | $99.52 | $25.06 |
| 1D performance | +0.00% | -0.54% |
| AuM | $7.96 M | $347.35 M |
| E/R | 0.18% | 0.86% |
Characteristics
MUNA | CAIQ | |
|---|---|---|
| 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 | November 20, 2025 |
| ESG | No | No |
Exposure
Countries
MUNA
USA
13.64%
Other
86.36%
CAIQ
USA
14.84%
Other
85.16%
Sectors
MUNA
Municipal
13.64%
Other
86.36%
CAIQ
Sovereign
14.84%
Other
85.16%
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Diversification
MUNA
Total weight of top 15 holdings out of 15
18.39%
CAIQ
Total weight of top 2 holdings out of 2
95.89%
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%
CAIQ
US12811T5149
81.06%
USA, Bills 0% 7jan2027, USD (182D)
14.84%
Frequently asked questions about MUNA and CAIQ
How have the MUNA and CAIQ ETFs performed in 2026?
As of September 14, 2026, MUNA is up 0.96% year-to-date (YTD), while CAIQ has returned 11.33%. That puts CAIQ better performer ahead so far this year.
Which ETF is attracting more investor money: MUNA or CAIQ?
Year-to-date, the MUNA ETF saw +$2M in flows, compared to +$315M for CAIQ.
Which ETF is bigger: MUNA or CAIQ?
As of September 14, 2026, MUNA holds $7.96 M in assets under management (AUM), while CAIQ manages $347.35 M.
What sectors do the MUNA and CAIQ ETFs invest in?
MUNA leans toward sectors like Municipal. Meanwhile, CAIQ focuses on Sovereign.
What are the top holdings of the MUNA ETF and CAIQ ETF?
MUNA top holdings include US213651MR06, US64327TKP20 and US407287MS70. CAIQ holds in its top three: US12811T5149 and USA, Bills 0% 7jan2027, USD (182D).
Which ETF is more diversified: MUNA or CAIQ?
MUNA holds 227 securities with 18.39% of its assets in the top 15. CAIQ has 2 securities.
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Latest news about MUNA & CAIQ
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNA
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Autocallables: The Next Generation of Equity Income ETFs
November 20, 2025
CAIQ
Autocallables: The Next Generation of Equity Income ETFs
November 20, 2025
CAIQ
ETF Strategies Explained for Dummies, Part 2 (With Examples)
January 1, 1970
CAIQ
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