- 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
- $8M
Share Price Chart
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Performance
MUNC Performance Chart
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) is up 1.0% since the beginning of the year. MUNC is currently trading at $102 per share.
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Returns By Period
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
- 1D
- -0.12%
- 1M
- 0.15%
- YTD
- 0.96%
- 6M
- 1.37%
- 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%
MUNC Monthly Returns History
Based on dividend-adjusted daily data since Aug 19, 2025, MUNC's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.
Historically, 91% of months were positive and 9% were negative. The best month was Sep 2025 with a return of +2.0%, while the worst month was Mar 2026 at -2.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 1 months.
On a daily basis, MUNC closed higher 59% of trading days. The best single day was Sep 5, 2025 with a return of +0.5%, while the worst single day was Mar 3, 2026 at -0.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.09% | 1.11% | -2.70% | 1.26% | 0.13% | 0.12% | 0.96% | ||||||
| 2025 | 0.20% | 1.96% | 1.09% | 0.31% | 0.18% | 3.78% |
Benchmark Metrics
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF has an annualized alpha of 4.84%, beta of 0.06, and R2 of 0.09 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 (22.57%) than losses (16.99%) - typical of diversified or defensive assets.
- Beta of 0.06 may look defensive, but with R2 of 0.09 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 0.09 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
- 4.84%
- Beta
- 0.06
- R²
- 0.09
- Upside Capture
- 22.57%
- Downside Capture
- 16.99%
Expense Ratio
MUNC 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 2045 Tax-Exempt Distributing Ladder ETF (MUNC) 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 2045 Tax-Exempt Distributing Ladder ETF provided a 2.51% dividend yield over the last twelve months, with an annual payout of $2.57 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $2.57 | $1.18 |
Dividend yield | 2.51% | 1.15% |
Monthly Dividends
The table displays the monthly dividend distributions for Northern Trust 2045 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 | $0.34 | $0.23 | $0.27 | $0.27 | $0.28 | $1.39 | ||||||
| 2025 | $0.11 | $0.27 | $0.27 | $0.54 | $1.18 |
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 2045 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 2045 Tax-Exempt Distributing Ladder ETF was 3.17%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current Northern Trust 2045 Tax-Exempt Distributing Ladder ETF drawdown is 1.32%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -3.17%Mar 2026 | 28d | — | 3mo 10dFeb 2026 - now |
2025 pullback2025 | -0.57%Sep 2025 | 8d | 14d | 22dSep 2025 - Oct 2025 |
2026 pullback2026 | -0.56%Jan 2026 | 2d | 6d | 8dJan 2026 - Jan 2026 |
2025 pullback2025 | -0.33%Dec 2025 | 27d | 14d | 1mo 11dNov 2025 - Dec 2025 |
2025 pullback2025 | -0.25%Oct 2025 | 2d | 9d | 11dOct 2025 - Nov 2025 |
Drawdown Indicators
| MUNC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.17% | -56.78% | +53.61% |
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 | -1.32% | -2.97% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -10.72% | +10.04% |
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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