- Issuer
- Northern Trust
- Inception Date
- Aug 18, 2025
- Region
- North America (United States)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $14M
Share Price Chart
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Performance
MUNB Performance Chart
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) is up 0.7% since the beginning of the year. MUNB is currently trading at $101 per share.
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Returns By Period
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF
- 1D
- -0.06%
- 1M
- 0.28%
- YTD
- 0.68%
- 6M
- 0.95%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.64%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 23.05%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
MUNB Monthly Returns History
Based on dividend-adjusted daily data since Aug 19, 2025, MUNB's average daily return is +0.01%, while the average monthly return is +0.24%. At this rate, an investment would double in approximately 24.1 years.
Historically, 91% of months were positive and 9% were negative. The best month was Apr 2026 with a return of +1.0%, while the worst month was Mar 2026 at -2.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 1 months.
On a daily basis, MUNB closed higher 60% of trading days. The best single day was Apr 8, 2026 with a return of +0.4%, while the worst single day was Mar 24, 2026 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.94% | 0.89% | -2.25% | 1.00% | 0.00% | 0.14% | 0.68% | ||||||
| 2025 | 0.27% | 0.90% | 0.29% | 0.20% | 0.24% | 1.91% |
Benchmark Metrics
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF has an annualized alpha of 2.51%, beta of 0.04, and R2 of 0.08 versus S&P 500 Index. Calculated based on daily prices since August 20, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (13.19%) than losses (12.94%) - typical of diversified or defensive assets.
- Beta of 0.04 may look defensive, but with R2 of 0.08 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.08 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.51%
- Beta
- 0.04
- R²
- 0.08
- Upside Capture
- 13.19%
- Downside Capture
- 12.94%
Expense Ratio
MUNB has an expense ratio of 0.18%, which is considered low.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
Northern Trust 2035 Tax-Exempt Distributing Ladder ETF provided a 1.80% dividend yield over the last twelve months, with an annual payout of $1.81 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.81 | $0.91 |
Dividend yield | 1.80% | 0.90% |
Monthly Dividends
The table displays the monthly dividend distributions for Northern Trust 2035 Tax-Exempt Distributing Ladder ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.21 | $0.13 | $0.20 | $0.17 | $0.19 | $0.90 | ||||||
| 2025 | $0.08 | $0.20 | $0.21 | $0.41 | $0.91 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Northern Trust 2035 Tax-Exempt Distributing Ladder ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Northern Trust 2035 Tax-Exempt Distributing Ladder ETF was 2.49%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current Northern Trust 2035 Tax-Exempt Distributing Ladder ETF drawdown is 1.13%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -2.49%Mar 2026 | 25d | — | 3mo 7dMar 2026 - now |
2025 pullback2025 | -0.62%Sep 2025 | 8d | 2mo 23d | 3mo 1dSep 2025 - Dec 2025 |
2026 pullback2026 | -0.16%Jan 2026 | 4d | 3d | 7dJan 2026 - Jan 2026 |
2026 pullback2026 | -0.11%Jan 2026 | 0s | 2d | 2dJan 2026 - Jan 2026 |
2025 pullback2025 | -0.06%Sep 2025 | 0s | 3d | 3dSep 2025 - Sep 2025 |
Drawdown Indicators
| MUNB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.49% | -56.78% | +54.29% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.13% | -2.97% | +1.84% |
Average DrawdownAverage peak-to-trough decline | -0.58% | -10.72% | +10.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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