MUNAvsCLOAETF 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 iShares AAA CLO Active ETF (CLOA) have similar underlying exposures to countries and sectors. MUNA's top 1 sector exposures are Municipal. In contrast, CLOA's top sector exposures are Industrials and Non-Corporate. MUNA is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.2% for CLOA. MUNA is up 1.53% year-to-date (YTD) with +$2M in YTD flows. CLOA performs better with 3.89% YTD performance, and +$1.41B in YTD flows. Run a side-by-side ETF comparison of MUNA and CLOA 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 CLOA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNA CLOA | +1.67%+0.32% | +0.44%+1.19% | +1.53%+3.89% | +2.16%+4.91% | n/a+19.88% | n/an/a |
| Flows | MUNA CLOA | -+$451M | -$1M+$617M | +$2M+$1.41B | +$3M+$1.37B | -+$2.74B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNA CLOA | +1.61%+0.27% | +1.11%+0.44% | n/a+0.59% | n/an/a |
| Max drawdown | MUNA CLOA | -1.61%-0.07% | -1.61%-0.07% | n/a-0.75% | n/an/a |
| Max drawdown duration | MUNA CLOA | 59d4d | 59d4d | n/a21d | n/an/a |
Trading data
MUNA | CLOA | |
Last sale 10/29/2026 at 1:30 PM | $100.04 | $51.94 |
| Previous close 10/28/2026 | $99.94 | $51.96 |
| Consolidated volume 10/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/29/2026 at 1:30 PM
Live
Closed
MUNA | CLOA | |
|---|---|---|
| Last price | $100.04 | $51.94 |
| 1D performance | +0.10% | -0.04% |
| AuM | $7.98 M | $2.79 B |
| E/R | 0.18% | 0.2% |
Characteristics
MUNA | CLOA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | FlexShares | iShares |
| Benchmark | - | - |
| N° of holdings | 36 | 60 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | January 10, 2023 |
| ESG | No | No |
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Exposure
Countries
MUNA
USA
15.3%
Other
84.7%
CLOA
USA
17.11%
Other
82.89%
Sectors
MUNA
Municipal
15.3%
Other
84.7%
CLOA
Industrials
16.17%
Other
83.83%
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Diversification
MUNA
Total weight of top 15 holdings out of 15
17.98%
CLOA
Total weight of top 15 holdings out of 15
12.89%
Top 15 holdings
Data as of August 31, 2026
MUNA
US213651MR06
2.32%
US749845M592
1.42%
State of Ohio, 5% 1oct2027, USD (2019B)
1.28%
US564395TS05
1.27%
US228485LT39
1.24%
US812643UL69
1.21%
US735422NS20
1.13%
US577625T632
1.10%
US92937NDC56
1.08%
South Carolina Transportation Infrasructure Bank, 5% 1oct2026, USD (2021B)
1.06%
US602248LG95
1.00%
US217813BB94
0.99%
State of Washington, 5% 1jun2028, USD (2021F)
0.98%
US163103VP65
0.96%
US641480JN95
0.94%
CLOA
BlackRock Cash Funds - Treasury
0.93%
US48257WAA62
0.89%
US67126BAA17
0.89%
AB BSL CLO 2025-7A, FRN 17jan2039, USD (ABS, A1)
0.89%
US87268VAA35
0.89%
US29003NAJ46
0.89%
US04018XAN93
0.89%
Bain Capital Credit CLO 2024-1A, FRN 18apr2039, USD (ABS, A1R)
0.89%
US83011VAL80
0.89%
US488934AA89
0.88%
US64754YAA73
0.84%
US143111AY87
0.82%
SONA US CLO 2026-2A, FRN 22jul2039, USD (ABS, A1)
0.80%
US64134JAL70
0.77%
US149791BG90
0.72%
Frequently asked questions about MUNA and CLOA
How have the MUNA and CLOA ETFs performed in 2026?
As of October 28, 2026, MUNA is up 1.53% year-to-date (YTD), while CLOA has returned 3.89%. That puts CLOA better performer ahead so far this year.
Which ETF is attracting more investor money: MUNA or CLOA?
Year-to-date, the MUNA ETF saw +$2M in flows, compared to +$1.41B for CLOA.
Which ETF is more volatile: MUNA or CLOA?
Over the past year, MUNA had a volatility of 1.11%, while CLOA experienced 0.44%.
Which ETF is bigger: MUNA or CLOA?
As of October 28, 2026, MUNA holds $7.98 M in assets under management (AUM), while CLOA manages $2.79 B.
What sectors do the MUNA and CLOA ETFs invest in?
MUNA leans toward sectors like Municipal. Meanwhile, CLOA focuses on Industrials.
What are the top holdings of the MUNA ETF and CLOA ETF?
MUNA top holdings include US213651MR06, US749845M592 and State of Ohio, 5% 1oct2027, USD (2019B). CLOA holds in its top three: BlackRock Cash Funds - Treasury, US48257WAA62 and US67126BAA17.
Which ETF is more diversified: MUNA or CLOA?
MUNA holds 228 securities with 17.98% of its assets in the top 15. CLOA has 426 securities and a top 15 weight of 12.89%.
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Latest news about MUNA & CLOA
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNA
Tony's ETF Buyers Guide: Collateralized Loan Obligation (CLO) ETFs
June 27, 2024
CLOA
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