MUNBvsPSQAETF Comparison
ETF 1
MUNB
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.21%
VS
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) and Palmer Square CLO Senior Debt ETF (PSQA) have similar underlying exposures to countries and sectors. MUNB's top 1 sector exposures are Municipal. In contrast, PSQA's top sector exposures are Industrials and Non-Corporate. MUNB is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.21% for PSQA. MUNB is down -0.2% year-to-date (YTD) with +$9M in YTD flows. PSQA performs better with 4.09% YTD performance, and +$173M in YTD flows. Run a side-by-side ETF comparison of MUNB and PSQA 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 PSQA 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 PSQA | +1.73%+0.38% | +0.24%+1.27% | -0.20%+4.09% | +0.26%+5.08% | n/an/a | n/an/a |
| Flows | MUNB PSQA | -+$28M | -+$98M | +$9M+$173M | +$9M+$194M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNB PSQA | +3.44%+0.20% | +2.30%+0.43% | n/an/a | n/an/a |
| Max drawdown | MUNB PSQA | -3.60%n/a | -4.79%-0.24% | n/an/a | n/an/a |
| Max drawdown duration | MUNB PSQA | 71dn/a | 239d20d | n/an/a | n/an/a |
Trading data
MUNB | PSQA | |
Last sale 10/26/2026 at 1:30 PM | $99.28 | $20.66 |
| Previous close 10/23/2026 | $99.28 | $20.65 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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MUNB
is actively managed and doesn’t replicate an indexMUNB | PSQA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/26/2026 at 1:30 PM
Live
Closed
MUNB | PSQA | |
|---|---|---|
| Last price | $99.28 | $20.66 |
| 1D performance | +0.00% | +0.03% |
| AuM | $13.88 M | $245.92 M |
| E/R | 0.18% | 0.21% |
Characteristics
MUNB | PSQA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | FlexShares | Palmer Square |
| Benchmark | - | Palmer Square CLO Senior Debt Index |
| N° of holdings | 31 | 20 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | September 11, 2024 |
| ESG | No | No |
Exposure
Countries
MUNB
USA
15.56%
Other
84.44%
PSQA
USA
14.84%
Other
85.16%
Sectors
MUNB
Municipal
15.56%
Other
84.44%
PSQA
Industrials
14.55%
Other
85.45%
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Diversification
MUNB
Total weight of top 15 holdings out of 15
16.58%
PSQA
Total weight of top 15 holdings out of 15
21.9%
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%
PSQA
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
2.00%
US75884YAK47
1.91%
US12549QBL86
1.64%
US64132TAU79
1.43%
US74971CAU71
1.43%
US12553DAS62
1.43%
US03768UAG40
1.43%
Magnetite CLO 2019-23A, FRN 25jan2035, USD (ABS, AR)
1.43%
US03990HAA68
1.43%
US75884EAN22
1.43%
Invesco US CLO 2023-1A, FRN 22apr2037, USD (ABS, AR2)
1.43%
US675949AQ45
1.31%
US67097LAV80
1.20%
US67402CBU99
1.19%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
1.19%
Frequently asked questions about MUNB and PSQA
How have the MUNB and PSQA ETFs performed in 2026?
As of October 23, 2026, MUNB is down -0.2% year-to-date (YTD), while PSQA has returned 4.09%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: MUNB or PSQA?
Year-to-date, the MUNB ETF saw +$9M in flows, compared to +$173M for PSQA.
Which ETF is more volatile: MUNB or PSQA?
Over the past year, MUNB had a volatility of 2.3%, while PSQA experienced 0.43%.
Which ETF is bigger: MUNB or PSQA?
As of October 23, 2026, MUNB holds $13.88 M in assets under management (AUM), while PSQA manages $245.92 M.
What sectors do the MUNB and PSQA ETFs invest in?
MUNB leans toward sectors like Municipal. Meanwhile, PSQA focuses on Industrials.
What are the top holdings of the MUNB ETF and PSQA ETF?
MUNB top holdings include District of Columbia, 5% 1dec2026, USD, US153476GN09 and US93972ADP84. PSQA holds in its top three: Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12549QBL86.
Which ETF is more diversified: MUNB or PSQA?
MUNB holds 252 securities with 16.58% of its assets in the top 15. PSQA has 146 securities and a top 15 weight of 21.9%.
Latest news about MUNB & PSQA
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNB
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