PSQAvsMUNAETF Comparison
VS
ETF 2
MUNA
Northern Trust 2030 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
-0%
Palmer Square CLO Senior Debt ETF (PSQA) and Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) have similar underlying exposures to countries and sectors. PSQA's top 2 sector exposures are Industrials and Non-Corporate. In contrast, MUNA's top sector exposures are Municipal. PSQA is more expensive with a Total Expense Ratio (TER) of 0.21%, versus 0.18% for MUNA. PSQA is up 3.99% year-to-date (YTD) with +$163M in YTD flows. MUNA performs worse with 0.92% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of PSQA and MUNA 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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PSQA vs MUNA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PSQA MUNA | +0.38%+0.04% | +1.28%-0.29% | +3.99%+0.92% | +5.09%+1.43% | n/an/a | n/an/a |
| Flows | PSQA MUNA | +$25M- | +$88M-$1M | +$163M+$2M | +$186M+$3M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PSQA MUNA | +0.20%+1.56% | +0.43%+1.07% | n/an/a | n/an/a |
| Max drawdown | PSQA MUNA | n/a-1.61% | -0.24%-1.61% | n/an/a | n/an/a |
| Max drawdown duration | PSQA MUNA | n/a52d | 20d52d | n/an/a | n/an/a |
Trading data
PSQA | MUNA | |
Last sale 10/19/2026 at 1:30 PM | $20.62 | $99.25 |
| Previous close 10/16/2026 | $20.62 | $99.34 |
| Consolidated volume 10/16/2026 | ||
| 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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MUNA
is actively managed and doesn’t replicate an indexPSQA | MUNA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
PSQA | MUNA | |
|---|---|---|
| Last price | $20.62 | $99.25 |
| 1D performance | +0.00% | -0.09% |
| AuM | $235.42 M | $7.94 M |
| E/R | 0.21% | 0.18% |
Characteristics
PSQA | MUNA | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Palmer Square | FlexShares |
| Benchmark | Palmer Square CLO Senior Debt Index | - |
| N° of holdings | 20 | 36 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2024 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
PSQA
USA
14.84%
Other
85.16%
MUNA
USA
15.3%
Other
84.7%
Sectors
PSQA
Industrials
14.55%
Other
85.45%
MUNA
Municipal
15.3%
Other
84.7%
Diversification
PSQA
Total weight of top 15 holdings out of 15
21.9%
MUNA
Total weight of top 15 holdings out of 15
17.98%
Top 15 holdings
Data as of August 31, 2026
PSQA
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
2.00%
US75884YAK47
1.91%
US12549QBL86
1.64%
US64132TAU79
1.43%
US74971CAU71
1.43%
US12553DAS62
1.43%
US03768UAG40
1.43%
Magnetite CLO 2019-23A, FRN 25jan2035, USD (ABS, AR)
1.43%
US03990HAA68
1.43%
US75884EAN22
1.43%
Invesco US CLO 2023-1A, FRN 22apr2037, USD (ABS, AR2)
1.43%
US675949AQ45
1.31%
US67097LAV80
1.20%
US67402CBU99
1.19%
AIMCO CLO 2026-27A, FRN 20apr2039, USD (ABS, A1)
1.19%
MUNA
US213651MR06
2.32%
US749845M592
1.42%
State of Ohio, 5% 1oct2027, USD (2019B)
1.28%
US564395TS05
1.27%
US228485LT39
1.24%
US812643UL69
1.21%
US735422NS20
1.13%
US577625T632
1.10%
US92937NDC56
1.08%
South Carolina Transportation Infrasructure Bank, 5% 1oct2026, USD (2021B)
1.06%
US602248LG95
1.00%
US217813BB94
0.99%
State of Washington, 5% 1jun2028, USD (2021F)
0.98%
US163103VP65
0.96%
US641480JN95
0.94%
Frequently asked questions about PSQA and MUNA
How have the PSQA and MUNA ETFs performed in 2026?
As of October 16, 2026, PSQA is up 3.99% year-to-date (YTD), while MUNA has returned 0.92%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: PSQA or MUNA?
Year-to-date, the PSQA ETF saw +$163M in flows, compared to +$2M for MUNA.
Which ETF is more volatile: PSQA or MUNA?
Over the past year, PSQA had a volatility of 0.43%, while MUNA experienced 1.07%.
Which ETF is bigger: PSQA or MUNA?
As of October 16, 2026, PSQA holds $235.42 M in assets under management (AUM), while MUNA manages $7.94 M.
What sectors do the PSQA and MUNA ETFs invest in?
PSQA leans toward sectors like Industrials. Meanwhile, MUNA focuses on Municipal.
What are the top holdings of the PSQA ETF and MUNA ETF?
PSQA top holdings include Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12549QBL86. MUNA holds in its top three: US213651MR06, US749845M592 and State of Ohio, 5% 1oct2027, USD (2019B).
Which ETF is more diversified: PSQA or MUNA?
PSQA holds 146 securities with 21.9% of its assets in the top 15. MUNA has 228 securities and a top 15 weight of 17.98%.
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Latest news about PSQA & MUNA
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNA
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