MUNC vs. IBMN

Last updated Jun 7, 2026

MUNC (Northern Trust 2045 Tax-Exempt Distributing Ladder ETF) and IBMN (iShares iBonds Dec 2025 Term Muni Bond ETF) are both Municipal Bonds funds. MUNC is actively managed, while IBMN is passively managed. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

MUNC vs. IBMN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MUNC

• 1D: -0.12%
• 1M: 0.15%
• YTD: 0.96%
• 6M: 1.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMN

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 1.18%
• 3Y*: 2.38%
• 5Y*: 0.47%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MUNC vs. IBMN - Yearly Performance Comparison

	2026 (YTD)	2025
MUNC Northern Trust 2045 Tax-Exempt Distributing Ladder ETF	0.96%	3.78%
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF	0.00%	0.70%

Correlation

The correlation between MUNC and IBMN is 0.12, 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 20, 2025	0.12

Return for Risk

MUNC vs. IBMN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBMN

IBMN Risk / Return Rank: 86
IBMN Sharpe Ratio Rank: 69
IBMN Sortino Ratio Rank: 82
IBMN Omega Ratio Rank: 94
IBMN Calmar Ratio Rank: 92
IBMN Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MUNC vs. IBMN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) and iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MUNC	IBMN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.24	0.58	+1.65

Drawdowns

MUNC vs. IBMN - Drawdown Comparison

The maximum MUNC drawdown since its inception was -3.17%, smaller than the maximum IBMN drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for MUNC and IBMN.

Drawdown Indicators

	MUNC	IBMN	Difference
Max Drawdown Largest peak-to-trough decline	-3.17%	-12.40%	+9.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.36%	—
Current Drawdown Current decline from peak	-1.32%	-0.05%	-1.27%
Average Drawdown Average peak-to-trough decline	-0.68%	-1.81%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.10%	—

Volatility

Volatility by Period

	MUNC	IBMN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.71%	0.71%	+2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.71%	1.79%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.71%	3.89%	-1.18%

MUNC vs. IBMN - Expense Ratio Comparison

Both MUNC and IBMN have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MUNC vs. IBMN - Dividend Comparison

MUNC's dividend yield for the trailing twelve months is around 2.51%, more than IBMN's 1.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF	1.14%	2.03%	2.03%	1.72%	0.97%	0.70%	1.11%	1.65%	0.23%
MUNC Northern Trust 2045 Tax-Exempt Distributing Ladder ETF	2.51%	1.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUNC and IBMN in my portfolio?

MUNC and IBMN have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUNC or IBMN?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUNC or IBMN?

MUNC and IBMN have the same expense ratio: 0.18% per year.

Which ETF pays a higher dividend yield, MUNC or IBMN?

MUNC has the higher dividend yield at 2.51%, compared with 1.14% for IBMN.

What is the main difference between MUNC and IBMN?

They also come from different issuers: Northern Trust and iShares.