MUNCvsFTMNETF Comparison
ETF 1
MUNC
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.28%
VS
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) and Franklin Minnesota Municipal Income ETF (FTMN) have similar underlying exposures to countries and sectors. They also belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. MUNC is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.35% for FTMN. MUNC is down -0.63% year-to-date (YTD) with -$2M in YTD flows. FTMN performs worse with -3.64% YTD performance, and +$116M in YTD flows. Run a side-by-side ETF comparison of MUNC and FTMN 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 FTMN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNC FTMN | +3.89%+4.35% | -0.53%-2.91% | -0.63%-3.64% | -0.18%n/a | n/an/a | n/an/a |
| Flows | MUNC FTMN | -+$5M | -+$91M | -$2M+$116M | -$2M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNC FTMN | +4.61%+6.75% | +3.09%n/a | n/an/a | n/an/a |
| Max drawdown | MUNC FTMN | -5.01%-7.56% | -6.70%n/a | n/an/a | n/an/a |
| Max drawdown duration | MUNC FTMN | 74d74d | 239dn/a | n/an/a | n/an/a |
Trading data
MUNC | FTMN | |
Last sale 10/27/2026 at 1:30 PM | $99.60 | $8.46 |
| Previous close 10/26/2026 | $99.56 | $8.47 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
MUNC | FTMN | |
|---|---|---|
| Last price | $99.60 | $8.46 |
| 1D performance | +0.04% | -0.12% |
| AuM | $7.97 M | $278.87 M |
| E/R | 0.18% | 0.35% |
Characteristics
MUNC | FTMN | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | FlexShares | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 20 | 27 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | November 10, 2025 |
| ESG | No | No |
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Exposure
Countries
MUNC
USA
15.66%
Other
84.34%
FTMN
USA
16.65%
Other
83.35%
Sectors
MUNC
Municipal
15.66%
Other
84.34%
FTMN
Municipal
16.65%
Other
83.35%
Diversification
MUNC
Total weight of top 15 holdings out of 15
32.31%
FTMN
Total weight of top 15 holdings out of 15
26.36%
Top 15 holdings
Data as of August 31, 2026
MUNC
Utility Debt Securitization Authority, 5% 15dec2029, USD (2022)
3.33%
US866849W400
3.26%
US544532CU63
3.24%
US930864JG97
3.04%
US64613CAZ14
2.63%
US562895XK30
2.54%
US05914GFN34
1.92%
US153480AJ70
1.85%
US315361MP77
1.84%
Greater Chicago Metropolitan Water Reclamation District, 5.25% 1dec2035, USD
1.70%
US216181GE19
1.44%
US812670DV64
1.42%
US779240RF94
1.39%
US749030EE89
1.37%
US79289ABY82
1.35%
FTMN
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
2.35%
St. Cloud, 5% 1may2054, USD (2024)
2.33%
US771614UR33
2.16%
US946813ZB17
2.10%
US771614UQ59
1.81%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
1.79%
US60416JDA51
1.69%
US60412AN585
1.66%
US60375BLR59
1.63%
US60375BLS33
1.62%
US573259CR76
1.57%
Minneapolis, 4% 15nov2040, USD
1.54%
US60412PFX33
1.45%
US604140XU23
1.36%
US946813ZA34
1.31%
Frequently asked questions about MUNC and FTMN
How have the MUNC and FTMN ETFs performed in 2026?
As of October 26, 2026, MUNC is down -0.63% year-to-date (YTD), while FTMN has lost -3.64%. That puts MUNC better performer ahead so far this year.
Which ETF is attracting more investor money: MUNC or FTMN?
Year-to-date, the MUNC ETF saw -$2M in flows, compared to +$116M for FTMN.
Which ETF is bigger: MUNC or FTMN?
As of October 26, 2026, MUNC holds $7.97 M in assets under management (AUM), while FTMN manages $278.87 M.
What sectors do the MUNC and FTMN ETFs invest in?
MUNC leans toward sectors like Municipal. Meanwhile, FTMN focuses on Municipal.
What are the top holdings of the MUNC ETF and FTMN ETF?
MUNC top holdings include Utility Debt Securitization Authority, 5% 15dec2029, USD (2022), US866849W400 and US544532CU63. FTMN holds in its top three: Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A), St. Cloud, 5% 1may2054, USD (2024) and US771614UR33.
Which ETF is more diversified: MUNC or FTMN?
MUNC holds 152 securities with 32.31% of its assets in the top 15. FTMN has 216 securities and a top 15 weight of 26.36%.
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Latest news about MUNC & FTMN
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNC
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