MUNBvsCLOAETF Comparison
ETF 1
MUNB
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.2%
VS
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) and iShares AAA CLO Active ETF (CLOA) have similar underlying exposures to countries and sectors. MUNB's top 1 sector exposures are Municipal. In contrast, CLOA's top sector exposures are Industrials and Non-Corporate. MUNB is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.2% for CLOA. MUNB is down -0.2% year-to-date (YTD) with +$9M in YTD flows. CLOA performs better with 3.81% YTD performance, and +$1.41B in YTD flows. Run a side-by-side ETF comparison of MUNB 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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MUNB vs CLOA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNB CLOA | +1.73%+0.25% | +0.24%+1.19% | -0.20%+3.81% | +0.26%+4.94% | n/a+19.98% | n/an/a |
| Flows | MUNB CLOA | -+$451M | -+$611M | +$9M+$1.41B | +$9M+$1.37B | -+$2.74B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNB CLOA | +3.44%+0.28% | +2.30%+0.44% | n/a+0.59% | n/an/a |
| Max drawdown | MUNB CLOA | -3.60%-0.07% | -4.79%-0.07% | n/a-0.75% | n/an/a |
| Max drawdown duration | MUNB CLOA | 71d4d | 239d4d | n/a21d | n/an/a |
Trading data
MUNB | CLOA | |
Last sale 10/23/2026 at 1:30 PM | $99.28 | $51.89 |
| Previous close 10/22/2026 | $99.15 | $51.89 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
MUNB | CLOA | |
|---|---|---|
| Last price | $99.28 | $51.89 |
| 1D performance | +0.13% | +0.01% |
| AuM | $13.88 M | $2.79 B |
| E/R | 0.18% | 0.2% |
Characteristics
MUNB | CLOA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | FlexShares | iShares |
| Benchmark | - | - |
| N° of holdings | 31 | 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
MUNB
USA
15.56%
Other
84.44%
CLOA
USA
17.11%
Other
82.89%
Sectors
MUNB
Municipal
15.56%
Other
84.44%
CLOA
Industrials
16.17%
Other
83.83%
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Diversification
MUNB
Total weight of top 15 holdings out of 15
16.58%
CLOA
Total weight of top 15 holdings out of 15
12.89%
Top 15 holdings
Data as of August 31, 2026
MUNB
District of Columbia, 5% 1dec2026, USD
1.51%
US153476GN09
1.44%
US93972ADP84
1.20%
District of Columbia, 5% 1jun2029, USD (2023B)
1.18%
US517845LF85
1.14%
US365591YX88
1.11%
US749845H220
1.11%
District of Columbia, 5% 1jan2029, USD (2023A)
1.09%
US64711PNE69
1.09%
US495098D288
1.05%
US639905EW41
1.01%
US963099QK58
0.97%
Dallas and Fort Worth International Airport, 5% 1nov2028, USD (2023B)
0.94%
US451446AU27
0.88%
US749845M675
0.85%
CLOA
BlackRock Cash Funds - Treasury
0.93%
US48257WAA62
0.89%
AB BSL CLO 2025-7A, FRN 17jan2039, USD (ABS, A1)
0.89%
US67126BAA17
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 MUNB and CLOA
How have the MUNB and CLOA ETFs performed in 2026?
As of October 23, 2026, MUNB is down -0.2% year-to-date (YTD), while CLOA has returned 3.81%. That puts CLOA better performer ahead so far this year.
Which ETF is attracting more investor money: MUNB or CLOA?
Year-to-date, the MUNB ETF saw +$9M in flows, compared to +$1.41B for CLOA.
Which ETF is more volatile: MUNB or CLOA?
Over the past year, MUNB had a volatility of 2.3%, while CLOA experienced 0.44%.
Which ETF is bigger: MUNB or CLOA?
As of October 23, 2026, MUNB holds $13.88 M in assets under management (AUM), while CLOA manages $2.79 B.
What sectors do the MUNB and CLOA ETFs invest in?
MUNB leans toward sectors like Municipal. Meanwhile, CLOA focuses on Industrials.
What are the top holdings of the MUNB ETF and CLOA ETF?
MUNB top holdings include District of Columbia, 5% 1dec2026, USD, US153476GN09 and US93972ADP84. CLOA holds in its top three: BlackRock Cash Funds - Treasury, US48257WAA62 and AB BSL CLO 2025-7A, FRN 17jan2039, USD (ABS, A1).
Which ETF is more diversified: MUNB or CLOA?
MUNB holds 252 securities with 16.58% 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 MUNB & CLOA
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNB
Tony's ETF Buyers Guide: Collateralized Loan Obligation (CLO) ETFs
June 27, 2024
CLOA
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