MUNFvsVTEBETF Comparison
ETF 1
MUNF
Northern Trust 2036 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
+0.5%
VS
Northern Trust 2036 Tax-Exempt Distributing Ladder ETF (MUNF) and Vanguard Tax-Exempt Bond Index ETF (VTEB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. MUNF is more expensive with a Total Expense Ratio (TER) of 0.1%, versus 0.03% for VTEB. Run a side-by-side ETF comparison of MUNF and VTEB 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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MUNF vs VTEB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/09/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNF VTEB | -1.55%-2.59% | n/a-5.18% | n/a-3.47% | n/a-2.29% | n/a+9.38% | n/a-0.15% |
| Flows | MUNF VTEB | -+$5.39B | -+$7.01B | -+$10.29B | -+$12.54B | -+$24.20B | -+$39.41B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNF VTEB | n/a+4.83% | n/a+3.19% | n/a+3.84% | n/a+3.79% |
| Max drawdown | MUNF VTEB | n/a-6.28% | n/a-6.63% | n/a-6.63% | n/a-12.41% |
| Max drawdown duration | MUNF VTEB | n/a92d | n/a95d | n/a95d | n/a1001d |
Trading data
MUNF | VTEB | |
Last sale 10/9/2026 at 1:30 PM | $98.18 | $47.32 |
| Previous close 10/08/2026 | $98.18 | $47.13 |
| Consolidated volume 10/08/2026 | ||
| 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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MUNF
is actively managed and doesn’t replicate an indexMUNF | VTEB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/9/2026 at 1:30 PM
Live
Closed
MUNF | VTEB | |
|---|---|---|
| Last price | $98.18 | $47.32 |
| 1D performance | +0.00% | +0.40% |
| AuM | $4.86 M | $50.04 B |
| E/R | 0.1% | 0.03% |
Characteristics
MUNF | VTEB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Northern Trust | Vanguard |
| Benchmark | - | S&P National AMT-Free Municipal Bond Index |
| N° of holdings | 21 | 5200 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 26, 2026 | August 21, 2015 |
| ESG | No | No |
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Exposure
Countries
MUNF
USA
16.21%
Other
83.79%
VTEB
USA
55.18%
Other
44.82%
Sectors
MUNF
Municipal
16.21%
Other
83.79%
VTEB
Municipal
55.18%
Other
44.82%
Diversification
MUNF
Total weight of top 15 holdings out of 15
26.8%
VTEB
Total weight of top 15 holdings out of 15
1.57%
Top 15 holdings
Data as of August 31, 2026
MUNF
Indiana Finance Authority, 5% 1feb2028, USD (2017C)
3.08%
Illinois Toll Highway Authority, 5% 1jan2029, USD
2.26%
US66285WT630
1.98%
US927022UM32
1.91%
US23503CAV90
1.79%
US181117GV88
1.77%
US235219PM89
1.62%
US43232RCP38
1.61%
US749845K448
1.61%
City of Orlando, 5% 1oct2027, USD (2018B)
1.58%
US152708CX94
1.56%
US914845VF66
1.53%
US194740UL80
1.51%
US181012BZ77
1.50%
US882669DK71
1.48%
VTEB
US13063EUN48
0.16%
US13063EUP95
0.15%
City of New York, 5% 1aug2034, USD (2026)
0.12%
University of California, 5% 15may2036, USD (2025)
0.11%
US68608JXF38
0.10%
Idaho, 4% 30jun2027, USD (2026)
0.10%
US87638QBF54
0.10%
California, 5.25% 1aug2032, USD
0.10%
US646140KX00
0.10%
New Jersey Health Care Facilities Financing Authority, 1.9% 1jul2061, USD (2026B-1)
0.10%
City of New York, 5% 1aug2032, USD (2026)
0.09%
US574193YA01
0.09%
Wisconsin, 5% 1may2038, USD (2026)
0.09%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2026A)
0.08%
Dallas Independent School District, 5% 15feb2056, USD (2026B)
0.08%
Frequently asked questions about MUNF and VTEB
Which ETF is bigger: MUNF or VTEB?
As of October 9, 2026, MUNF holds $4.86 M in assets under management (AUM), while VTEB manages $50.04 B.
What sectors do the MUNF and VTEB ETFs invest in?
MUNF leans toward sectors like Municipal. Meanwhile, VTEB focuses on Municipal.
What are the top holdings of the MUNF ETF and VTEB ETF?
MUNF top holdings include Indiana Finance Authority, 5% 1feb2028, USD (2017C), Illinois Toll Highway Authority, 5% 1jan2029, USD and US66285WT630. VTEB holds in its top three: US13063EUN48, US13063EUP95 and City of New York, 5% 1aug2034, USD (2026).
Which ETF is more diversified: MUNF or VTEB?
MUNF holds 129 securities with 26.8% of its assets in the top 15. VTEB has 10722 securities and a top 15 weight of 1.57%.
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Latest news about MUNF & VTEB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
VTEB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
VTEB
Vanguard plans to launch a new short-term municipal bond ETF in 2023
December 23, 2022
VTEB
Investing in Municipal Bond ETFs
October 24, 2022
VTEB
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