MUNCvsMUNBETF Comparison
ETF 1
MUNC
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
-0.69%
VS
ETF 2
MUNB
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
-0.69%
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) and Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) 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. Both MUNC and MUNB have the same Total Expense Ratio (TER) of 0.18%. MUNC is down -1.96% year-to-date (YTD) with -$2M in YTD flows. MUNB performs better with -1.03% YTD performance, and +$9M in YTD flows. Run a side-by-side ETF comparison of MUNC and MUNB 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 MUNB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNC MUNB | -2.30%-1.41% | -3.00%-1.56% | -1.96%-1.03% | -0.04%-0.40% | n/an/a | n/an/a |
| Flows | MUNC MUNB | -- | -- | -$2M+$9M | -$2M+$9M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNC MUNB | +2.66%+1.92% | +2.39%+1.77% | n/an/a | n/an/a |
| Max drawdown | MUNC MUNB | -3.51%-1.87% | -4.19%-2.75% | n/an/a | n/an/a |
| Max drawdown duration | MUNC MUNB | 66d66d | 193d196d | n/an/a | n/an/a |
Trading data
MUNC | MUNB | |
Last sale 9/11/2026 at 1:30 PM | $98.42 | $98.58 |
| Previous close 09/10/2026 | $98.42 | $98.58 |
| 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 | MUNB | |
|---|---|---|
| Last price | $98.42 | $98.58 |
| 1D performance | +0.00% | +0.00% |
| AuM | $7.89 M | $13.79 M |
| E/R | 0.18% | 0.18% |
Characteristics
MUNC | MUNB | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | FlexShares | FlexShares |
| Benchmark | - | - |
| N° of holdings | 20 | 31 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
MUNC
USA
15.7%
Other
84.3%
MUNB
USA
15.62%
Other
84.38%
Sectors
MUNC
Municipal
15.7%
Other
84.3%
MUNB
Municipal
15.62%
Other
84.38%
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Diversification
MUNC
Total weight of top 15 holdings out of 15
32.28%
MUNB
Total weight of top 15 holdings out of 15
16.64%
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%
MUNB
District of Columbia, 5% 1dec2026, USD
1.52%
US153476GN09
1.45%
US93972ADP84
1.20%
District of Columbia, 5% 1jun2029, USD (2023B)
1.18%
US517845LF85
1.14%
US365591YX88
1.12%
US749845H220
1.12%
US64711PNE69
1.10%
District of Columbia, 5% 1jan2029, USD (2023A)
1.10%
US495098D288
1.06%
US639905EW41
1.02%
US963099QK58
0.97%
Dallas and Fort Worth International Airport, 5% 1nov2028, USD (2023B)
0.94%
US451446AU27
0.88%
US749845M675
0.86%
Frequently asked questions about MUNC and MUNB
How have the MUNC and MUNB ETFs performed in 2026?
As of September 10, 2026, MUNC is down -1.96% year-to-date (YTD), while MUNB has lost -1.03%. That puts MUNB better performer ahead so far this year.
Which ETF is attracting more investor money: MUNC or MUNB?
Year-to-date, the MUNC ETF saw -$2M in flows, compared to +$9M for MUNB.
Which ETF is more volatile: MUNC or MUNB?
Over the past year, MUNC had a volatility of 2.39%, while MUNB experienced 1.77%.
Which ETF is bigger: MUNC or MUNB?
As of September 10, 2026, MUNC holds $7.89 M in assets under management (AUM), while MUNB manages $13.79 M.
What sectors do the MUNC and MUNB ETFs invest in?
MUNC leans toward sectors like Municipal. Meanwhile, MUNB focuses on Municipal.
What are the top holdings of the MUNC ETF and MUNB ETF?
MUNC top holdings include Utility Debt Securitization Authority, 5% 15dec2029, USD (2022), US866849W400 and US544532CU63. MUNB holds in its top three: District of Columbia, 5% 1dec2026, USD, US153476GN09 and US93972ADP84.
Which ETF is more diversified: MUNC or MUNB?
MUNC holds 152 securities with 32.28% of its assets in the top 15. MUNB has 252 securities and a top 15 weight of 16.64%.
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Latest news about MUNC & MUNB
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNC
MUNB
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