MUNCvsAAACETF Comparison
ETF 1
MUNC
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.14%
VS
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) and Columbia AAA CLO ETF (AAAC) have similar underlying exposures to countries and sectors. MUNC's top 1 sector exposures are Municipal. In contrast, AAAC's top sector exposures are Industrials, Non-Corporate and Finance. MUNC is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.2% for AAAC. MUNC is down -1.87% year-to-date (YTD) with -$2M in YTD flows. AAAC performs better with 3.48% YTD performance, and +$93M in YTD flows. Run a side-by-side ETF comparison of MUNC and AAAC 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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MUNC vs AAAC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNC AAAC | -2.21%+0.46% | -2.88%+1.26% | -1.87%+3.48% | -0.25%n/a | n/an/a | n/an/a |
| Flows | MUNC AAAC | -- | -+$93M | -$2M+$93M | -$2M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNC AAAC | +2.67%+0.26% | +2.37%n/a | n/an/a | n/an/a |
| Max drawdown | MUNC AAAC | -3.51%n/a | -4.19%n/a | n/an/a | n/an/a |
| Max drawdown duration | MUNC AAAC | 67dn/a | 194dn/a | n/an/a | n/an/a |
Trading data
MUNC | AAAC | |
Last sale 9/11/2026 at 1:30 PM | $98.56 | $20.09 |
| Previous close 09/10/2026 | $98.42 | $20.08 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
MUNC | AAAC | |
|---|---|---|
| Last price | $98.56 | $20.09 |
| 1D performance | +0.14% | +0.05% |
| AuM | $7.89 M | $103.40 M |
| E/R | 0.18% | 0.2% |
Characteristics
MUNC | AAAC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | FlexShares | Columbia Threadneedle Investments |
| Benchmark | - | - |
| N° of holdings | 20 | 17 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | December 11, 2025 |
| ESG | No | No |
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Exposure
Countries
MUNC
USA
15.7%
Other
84.3%
AAAC
USA
18.07%
Other
81.93%
Sectors
MUNC
Municipal
15.7%
Other
84.3%
AAAC
Industrials
13.12%
Other
86.88%
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Diversification
MUNC
Total weight of top 15 holdings out of 15
32.28%
AAAC
Total weight of top 15 holdings out of 15
30.36%
Top 15 holdings
Data as of July 31, 2026
MUNC
Utility Debt Securitization Authority, 5% 15dec2029, USD (2022)
3.34%
US866849W400
3.25%
US544532CU63
3.23%
US930864JG97
3.03%
US64613CAZ14
2.62%
US562895XK30
2.54%
US05914GFN34
1.92%
US153480AJ70
1.86%
US315361MP77
1.84%
Greater Chicago Metropolitan Water Reclamation District, 5.25% 1dec2035, USD
1.71%
US216181GE19
1.44%
US812670DV64
1.42%
US779240RF94
1.39%
US749030EE89
1.37%
US79289ABY82
1.35%
AAAC
Columbia Short Term Cash Fund
3.01%
US26249MAQ06
2.18%
Fortress Credit BSL 2025-2A, FRN 15oct2038, USD (ABS, A)
1.94%
US27830XBL91
1.94%
US48254GAW69
1.94%
US67591JBE10
1.94%
Octagon 2025-1A, FRN 22jan2038, USD (ABS, A1)
1.94%
US75901PAS56
1.94%
US55952AAN90
1.94%
US82809EAN04
1.94%
US77342MAY21
1.93%
Ballyrock CLO 2024-22A, FRN 15jul2039, USD (ABS, A1R)
1.93%
US12575MAA99
1.93%
US06763VAL99
1.93%
US03755QAC78
1.93%
Frequently asked questions about MUNC and AAAC
How have the MUNC and AAAC ETFs performed in 2026?
As of September 11, 2026, MUNC is down -1.87% year-to-date (YTD), while AAAC has returned 3.48%. That puts AAAC better performer ahead so far this year.
Which ETF is attracting more investor money: MUNC or AAAC?
Year-to-date, the MUNC ETF saw -$2M in flows, compared to +$93M for AAAC.
Which ETF is bigger: MUNC or AAAC?
As of September 11, 2026, MUNC holds $7.89 M in assets under management (AUM), while AAAC manages $103.40 M.
What sectors do the MUNC and AAAC ETFs invest in?
MUNC leans toward sectors like Municipal. Meanwhile, AAAC focuses on Industrials.
What are the top holdings of the MUNC ETF and AAAC ETF?
MUNC top holdings include Utility Debt Securitization Authority, 5% 15dec2029, USD (2022), US866849W400 and US544532CU63. AAAC holds in its top three: Columbia Short Term Cash Fund, US26249MAQ06 and Fortress Credit BSL 2025-2A, FRN 15oct2038, USD (ABS, A).
Which ETF is more diversified: MUNC or AAAC?
MUNC holds 152 securities with 32.28% of its assets in the top 15. AAAC has 92 securities and a top 15 weight of 30.36%.
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Latest news about MUNC & AAAC
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNC
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