MUNB vs. QLC
MUNB (Northern Trust 2035 Tax-Exempt Distributing Ladder ETF) and QLC (FlexShares US Quality Large Cap Index Fund) are both exchange-traded funds - MUNB is a Municipal Bonds fund actively managed by Northern Trust, while QLC is a Large Cap Blend Equities fund tracking the Northern Trust Quality Large Cap Index. MUNB is actively managed, while QLC is passively managed. At a 0.22 correlation, their price movements are largely independent. MUNB charges 0.18%/yr vs 0.25%/yr for QLC.
Performance
MUNB vs. QLC - Performance Comparison
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Returns By Period
In the year-to-date period, MUNB achieves a 0.84% return, which is significantly lower than QLC's 9.25% return.
MUNB
- 1D
- 0.05%
- 1M
- 0.57%
- YTD
- 0.84%
- 6M
- 1.01%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLC
- 1D
- -0.27%
- 1M
- -1.20%
- YTD
- 9.25%
- 6M
- 7.70%
- 1Y
- 26.40%
- 3Y*
- 23.46%
- 5Y*
- 14.71%
- 10Y*
- 15.08%
MUNB vs. QLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MUNB Northern Trust 2035 Tax-Exempt Distributing Ladder ETF | 0.84% | 1.91% |
QLC FlexShares US Quality Large Cap Index Fund | 9.25% | 9.87% |
Correlation
The correlation between MUNB and QLC is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.22 |
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Return for Risk
MUNB vs. QLC — Risk / Return Rank
MUNB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QLC
MUNB vs. QLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB) and FlexShares US Quality Large Cap Index Fund (QLC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MUNB | QLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.00 | — |
| Martin ratioReturn relative to average drawdown | — | 13.50 | — |
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Drawdowns
MUNB vs. QLC - Drawdown Comparison
The maximum MUNB drawdown since its inception was -2.49%, smaller than the maximum QLC drawdown of -35.86%. Use the drawdown chart below to compare losses from any high point for MUNB and QLC.
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Drawdown Indicators
| MUNB | QLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.49% | -35.86% | +33.37% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.84% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.86% | — |
Current DrawdownCurrent decline from peak | -0.97% | -2.64% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -0.61% | -4.52% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.96% | — |
Volatility
MUNB vs. QLC - Volatility Comparison
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Volatility by Period
| MUNB | QLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.71% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.27% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.87% | 12.93% | -11.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.87% | 16.91% | -15.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.87% | 18.41% | -16.54% |
MUNB vs. QLC - Expense Ratio Comparison
MUNB has a 0.18% expense ratio, which is lower than QLC's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MUNB vs. QLC - Dividend Comparison
MUNB's dividend yield for the trailing twelve months is around 1.79%, more than QLC's 0.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUNB Northern Trust 2035 Tax-Exempt Distributing Ladder ETF | 1.79% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLC FlexShares US Quality Large Cap Index Fund | 0.96% | 0.94% | 1.03% | 1.26% | 1.46% | 0.96% | 1.40% | 1.91% | 1.82% | 1.29% | 1.80% | 0.64% |
Frequently Asked Questions
MUNB and QLC have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MUNB is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MUNB is cheaper with a 0.18% expense ratio, compared with 0.25% for QLC.
MUNB has the higher dividend yield at 1.79%, compared with 0.96% for QLC.
MUNB is categorized as Municipal Bonds, while QLC is Large Cap Blend Equities. Their fees differ too: 0.18% for MUNB and 0.25% for QLC.
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