MUNCvsPSQAETF 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 Palmer Square CLO Senior Debt ETF (PSQA) have similar underlying exposures to countries and sectors. MUNC's top 1 sector exposures are Municipal. In contrast, PSQA's top sector exposures are Industrials. MUNC is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.21% for PSQA. MUNC is down -1.87% year-to-date (YTD) with -$2M in YTD flows. PSQA performs better with 3.52% YTD performance, and +$137M in YTD flows. Run a side-by-side ETF comparison of MUNC 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.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
MUNC vs PSQA 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 PSQA | -2.21%+0.42% | -2.88%+1.25% | -1.87%+3.52% | -0.25%+5.18% | n/an/a | n/an/a |
| Flows | MUNC PSQA | -+$4M | -+$67M | -$2M+$137M | -$2M+$166M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNC PSQA | +2.67%+0.23% | +2.37%+0.45% | n/an/a | n/an/a |
| Max drawdown | MUNC PSQA | -3.51%n/a | -4.19%-0.24% | n/an/a | n/an/a |
| Max drawdown duration | MUNC PSQA | 67dn/a | 194d20d | n/an/a | n/an/a |
Trading data
MUNC | PSQA | |
Last sale 9/11/2026 at 1:30 PM | $98.56 | $20.77 |
| Previous close 09/10/2026 | $98.42 | $20.67 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
MUNC
is actively managed and doesn’t replicate an indexMUNC | PSQA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
MUNC | PSQA | |
|---|---|---|
| Last price | $98.56 | $20.77 |
| 1D performance | +0.14% | +0.49% |
| AuM | $7.89 M | $210.89 M |
| E/R | 0.18% | 0.21% |
Characteristics
MUNC | PSQA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | FlexShares | Palmer Square |
| Benchmark | - | Palmer Square CLO Senior Debt Index |
| N° of holdings | 20 | 18 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | September 11, 2024 |
| ESG | No | No |
Advertisement
Exposure
Countries
MUNC
USA
15.7%
Other
84.3%
PSQA
USA
16.83%
Other
83.17%
Sectors
MUNC
Municipal
15.7%
Other
84.3%
PSQA
Industrials
16.83%
Other
83.17%
Diversification
MUNC
Total weight of top 15 holdings out of 15
32.28%
PSQA
Total weight of top 15 holdings out of 15
24.88%
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%
PSQA
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
2.38%
US75884YAK47
2.26%
US12553DAS62
1.70%
US03768UAG40
1.70%
US64132TAU79
1.70%
US74971CAU71
1.70%
Magnetite CLO 2019-23A, FRN 25jan2035, USD (ABS, AR)
1.70%
Invesco US CLO 2023-1A, FRN 22apr2037, USD (ABS, AR2)
1.70%
US75884EAN22
1.70%
US675949AQ45
1.56%
US67402CBU99
1.42%
US03990HAA68
1.41%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
1.41%
Octagon Investment Partners 2019-1A, FRN 22jan2035, USD (ABS, A1R)
1.30%
US381929AN88
1.26%
Frequently asked questions about MUNC and PSQA
How have the MUNC and PSQA ETFs performed in 2026?
As of September 11, 2026, MUNC is down -1.87% year-to-date (YTD), while PSQA has returned 3.52%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: MUNC or PSQA?
Year-to-date, the MUNC ETF saw -$2M in flows, compared to +$137M for PSQA.
Which ETF is more volatile: MUNC or PSQA?
Over the past year, MUNC had a volatility of 2.37%, while PSQA experienced 0.45%.
Which ETF is bigger: MUNC or PSQA?
As of September 11, 2026, MUNC holds $7.89 M in assets under management (AUM), while PSQA manages $210.89 M.
What sectors do the MUNC and PSQA ETFs invest in?
MUNC leans toward sectors like Municipal. Meanwhile, PSQA focuses on Industrials.
What are the top holdings of the MUNC ETF and PSQA ETF?
MUNC top holdings include Utility Debt Securitization Authority, 5% 15dec2029, USD (2022), US866849W400 and US544532CU63. PSQA holds in its top three: Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12553DAS62.
Which ETF is more diversified: MUNC or PSQA?
MUNC holds 152 securities with 32.28% of its assets in the top 15. PSQA has 125 securities and a top 15 weight of 24.88%.
Advertisement
Latest news about MUNC & PSQA
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNC
Advertisement
Advertisement
