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Launched

Northern Trust 2035 Tax-Exempt Distributing Ladder ETF

MUNBNYSE ArcaFlexSharesC

$99.480.00 (0.00%)

As of Nov 2, 2026, 10:00 AM ET

C40/ 100

Rank 22 of 32 in Defined-Maturity Municipal

C40/100Rank 22 of 32inDefined-Maturity Municipal
Intraday session: flat, 1 prints from 99.48 to 99.48. Range 99.48 to 99.48. Use the arrow keys to read each point.98.5099.00100.0010 AM12 PM2 PM4 PM
Expense ratio
0.18%
Fund size
$14M
1Y total return
+0.8%
Yield · Last 12 months
2.36%
Holdings
254
Avg volume · 30D
937 sh
52W range
low $96.52high $102.82
Launched

The ETF.net MUNB Grade

C

Score 40 out of 100

Category
Defined-Maturity Municipal⁠
Rank
22 of 32
Six-pillar profile for MUNB. Scores out of 100: Cost 45, Risk 44, Mission 20, Tradability 45, Holdings 65, Durability 42. Strongest: Holdings (65). Weakest: Mission (20). Leans toward Holdings.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C45 out of 100
    Rank 10 of 32

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    F20 out of 100
    Rank 16 of 17

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C44 out of 100
    Rank 17 of 29

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C45 out of 100
    Rank 21 of 32

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B65 out of 100
    Rank 11 of 32

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C42 out of 100
    Rank 21 of 32

Our read on MUNB

ETF.net Research

In short

CNot a one-and-done maturity fund: MUNB packs a ten-rung municipal ladder into one ticker, paying monthly federally tax-exempt income, returning principal each year as rungs mature, then liquidating in 2035.

Stated mandate

The Fund seeks periodic distributions through 2035 consisting of federally tax-exempt income and/or principal. It uses a laddered municipal-bond strategy with maturities spread across annual rungs through the terminal year.

Why people hold it

  • One ticker holds a ten-rung muni ladder running to 2035: monthly federally tax-exempt income, plus principal paid back each year as rungs mature. No rolling bonds yourself.flexshares.comnortherntrust.com
  • Bonds are generally held to maturity and the proceeds distributed rather than reinvested, so the cash-flow pattern is set by the ladder itself.flexshares.com
  • Actively run by Northern Trust's muni team across a few hundred bonds, with the annual rungs funded in roughly equal par amounts.flexshares.com

Worth knowing

  • Runs 0.18% against a 0.10% median for target-maturity bond funds. Taxable rungs like IBTJ (0.07%) and BSCT (0.10%) cost less, but their income is not tax-exempt.
  • Share price is built to grind down as principal comes back, and distributions can include return of capital, which lowers your cost basis for later.flexshares.comflexshares.com 2
  • Launched in 2025, still small and thinly traded, so bid-ask spreads can be wider than in the big term-bond families.

MUNB Performance

Launched Aug 18, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
MUNB$10,079
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. MUNB $10,079. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MUNB. Periods over one year show the average yearly return.
PeriodMUNB
Year to date+0.3%
1 month+2.9%
3 months+0.5%
1 year+0.8%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MUNB
YearReturn barMUNB
2026 YTD+0.3%
2025+1.9%

History from Aug 19, 2025

MUNB in the news

MUNB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.36%Last 12 months
Payout per share
$2.36Last 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 14 payments from 2025 to 2026 YTD. Sep 2, 2025 $0.08; Oct 1, 2025 $0.21; Nov 3, 2025 $0.21; Dec 1, 2025 $0.20; Dec 19, 2025 $0.21; Feb 2, 2026 $0.21; Mar 2, 2026 $0.13; Apr 1, 2026 $0.20; May 1, 2026 $0.17; Jun 1, 2026 $0.19; Jul 1, 2026 $0.20; Aug 3, 2026 $0.21; Sep 1, 2026 $0.21; Oct 1, 2026 $0.20. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 6, 2026$0.21
Oct 1, 2026Oct 7, 2026$0.20
Sep 1, 2026Sep 8, 2026$0.21
Aug 3, 2026Aug 7, 2026$0.21
Jul 1, 2026Jul 8, 2026$0.20
Jun 1, 2026Jun 5, 2026$0.19
May 1, 2026May 7, 2026$0.17
Apr 1, 2026Apr 7, 2026$0.20
Mar 2, 2026Mar 6, 2026$0.13
Feb 2, 2026Feb 6, 2026$0.21
Dec 19, 2025Dec 26, 2025$0.21
Dec 1, 2025Dec 5, 2025$0.20

See all 15 payments⁠

$10,000 in MUNB 1 year ago paid $233 in dividends.⁠

MUNB Risk

Risk pillarC44 out of 100Rank 17 of 29 in Defined-Maturity Municipal
How much the fund’s monthly returns vary, scaled to a year.
4.8%
Annualised · 14 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.42
vs 3-month T-bills · 14 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−4.8%
14 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.15
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

MUNB Cost

Compare MUNB and IBMQ

Overpaying vs IBMQ, tied cheapest in Defined-Maturity Municipal

$1,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MUNB 0.18%

    $3,749

  • IBMQ 0.10% Tied cheapest

    $2,106

$10,000
30 years

Cost over time

  • MUNB 0.18%
  • IBMQ 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530MUNB $3,749IBMQ $2,106

Year by year

YearMUNBIBMQOverpaying
10$328$183$145
20$1,281$717$564
30$3,749$2,106$1,643

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