PSQAvsMUNBETF Comparison
VS
ETF 2
MUNB
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF
This fund is part of
Municipal Bonds
-0.03%
Palmer Square CLO Senior Debt ETF (PSQA) and Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) have similar underlying exposures to countries and sectors. PSQA's top 1 sector exposures are Industrials. In contrast, MUNB's top sector exposures are Municipal. PSQA is more expensive with a Total Expense Ratio (TER) of 0.21%, versus 0.18% for MUNB. PSQA is up 3.39% year-to-date (YTD) with +$136M in YTD flows. MUNB performs worse with -0.17% YTD performance, and +$9M in YTD flows. Run a side-by-side ETF comparison of PSQA 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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PSQA vs MUNB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PSQA MUNB | +0.42%-0.05% | +1.23%-0.74% | +3.39%-0.17% | +5.19%+1.67% | n/an/a | n/an/a |
| Flows | PSQA MUNB | +$32M- | +$70M- | +$136M+$9M | +$166M+$9M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PSQA MUNB | +0.22%+1.59% | +0.45%+1.75% | n/an/a | n/an/a |
| Max drawdown | PSQA MUNB | n/a-1.29% | -0.24%-2.40% | n/an/a | n/an/a |
| Max drawdown duration | PSQA MUNB | n/a58d | 20d188d | n/an/a | n/an/a |
Trading data
PSQA | MUNB | |
Last sale 9/3/2026 at 1:30 PM | $20.70 | $99.49 |
| Previous close 09/02/2026 | $20.67 | $99.47 |
| Consolidated volume 09/02/2026 | ||
| 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
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MUNB
is actively managed and doesn’t replicate an indexPSQA | MUNB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
PSQA | MUNB | |
|---|---|---|
| Last price | $20.70 | $99.49 |
| 1D performance | +0.17% | +0.02% |
| AuM | $209.59 M | $13.91 M |
| E/R | 0.21% | 0.18% |
Characteristics
PSQA | MUNB | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Palmer Square | FlexShares |
| Benchmark | Palmer Square CLO Senior Debt Index | - |
| N° of holdings | 18 | 31 |
| 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
16.83%
Other
83.17%
MUNB
USA
15.62%
Other
84.38%
Sectors
PSQA
Industrials
16.83%
Other
83.17%
MUNB
Municipal
15.62%
Other
84.38%
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Diversification
PSQA
Total weight of top 15 holdings out of 15
24.88%
MUNB
Total weight of top 15 holdings out of 15
16.64%
Top 15 holdings
Data as of July 31, 2026
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%
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 PSQA and MUNB
How have the PSQA and MUNB ETFs performed in 2026?
As of September 2, 2026, PSQA is up 3.39% year-to-date (YTD), while MUNB has lost -0.17%. That puts PSQA better performer ahead so far this year.
Which ETF is attracting more investor money: PSQA or MUNB?
Year-to-date, the PSQA ETF saw +$136M in flows, compared to +$9M for MUNB.
Which ETF is more volatile: PSQA or MUNB?
Over the past year, PSQA had a volatility of 0.45%, while MUNB experienced 1.75%.
Which ETF is bigger: PSQA or MUNB?
As of September 2, 2026, PSQA holds $209.59 M in assets under management (AUM), while MUNB manages $13.91 M.
What sectors do the PSQA and MUNB ETFs invest in?
PSQA leans toward sectors like Industrials. Meanwhile, MUNB focuses on Municipal.
What are the top holdings of the PSQA ETF and MUNB ETF?
PSQA top holdings include Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A), US75884YAK47 and US12553DAS62. MUNB holds in its top three: District of Columbia, 5% 1dec2026, USD, US153476GN09 and US93972ADP84.
Which ETF is more diversified: PSQA or MUNB?
PSQA holds 125 securities with 24.88% 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 PSQA & MUNB
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
MUNB
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