Northern Trust 2035 Tax-Exempt Distributing Ladder ETF
$98.06−0.16 (−0.16%)
- Expense ratio
- 0.18%
- Fund size
- $14M
- 1Y return
- −1.0%
- Yield · Last 12 months
- 2.40%
- Holdings
- 257
- Volume · 30D
- 0M sh
- NAV per share
- $98.26
- 52W range
The ETF.net MUNB Grade
Score 49 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 45Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 20Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 39Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 56Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 67Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 47Category rank
Our read on MUNB
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.
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.comntam.northerntrust.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
- Launched in 2025, still small and thinly traded, so bid-ask spreads can be wider than in the big term-bond families.
MUNB Holdings
- Bonds
- 257
- 12%
- DISTRICT COLUMBIA REV FEDERAL HWY GRANT ANTIC BDS
Geography
- United States100.00%
MUNB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | MUNB |
|---|---|
| Year to date | −1.3% |
| 1 month | −1.7% |
| 3 months | −2.1% |
| 1 year | −1.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MUNB |
|---|---|---|
| 2026 YTD | −1.3% | |
| 2025 | +1.9% |
MUNB in the news
ETF.net Research hasn’t filed on MUNB yet — coverage lands here as it’s written.
MUNB Dividends
- 2.40%
- $2.36
- $0.21 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 8, 2026 | $0.21 |
| Aug 3, 2026 | Aug 7, 2026 | $0.22 |
| Jul 1, 2026 | Jul 8, 2026 | $0.20 |
| Jun 1, 2026 | Jun 5, 2026 | $0.19 |
| May 1, 2026 | May 7, 2026 | $0.17 |
| Apr 1, 2026 | Apr 7, 2026 | $0.20 |
| Mar 2, 2026 | Mar 6, 2026 | $0.13 |
| Feb 2, 2026 | Feb 6, 2026 | $0.21 |
| Dec 19, 2025 | Dec 26, 2025 | $0.21 |
| Dec 1, 2025 | Dec 5, 2025 | $0.20 |
| Nov 3, 2025 | Nov 7, 2025 | $0.21 |
| Oct 1, 2025 | Oct 7, 2025 | $0.21 |
MUNB Risk
- 3.2%
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.
- −0.57
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.
- −3.1%
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.
- 0.15
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MUNB Cost
- The middle half of Defined-Maturity Municipal funds
- Median 0.18%
9 of the 32 Defined-Maturity Municipal funds charge less.