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MUND

GradeDNew York Stock Exchange Arca

Northern Trust 2055 Tax-Exempt Distributing Ladder ETF

Target Maturity Bond · FlexShares · Inception 2025-08-18

$98.33+0.00 (+0.00%)

As of Sep 23, 2026, 10:00 AM EDT

History starts Aug 19, 2025.
Intraday session: flat, 2 prints from 98.33 to 98.33. Range 98.33 to 98.33. Use the arrow keys to read each point.$97.50$98.00$99.0010 AM12 PM2 PM4 PM
Expense ratio
0.18%
Fund size
$2M
1Y return
−0.7%
Yield · Last 12 months
3.89%
Holdings
65
Volume · 30D
0M sh
NAV per share
$97.89
52W range
low $95.25high $107.17

The ETF.net MUND Grade

D

34/ 100

Rank 23 of 33 in Defined-Maturity Municipal⁠

Confidence Medium

Six-pillar profile for MUND. Scores out of 100: Cost 45, Risk 34, Mission not scored, Tradability 26, Holdings 19, Durability 30. Strongest: Cost (45). Weakest: Holdings (19). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 34 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned35This cap took−0Published score34 Grade D

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 45
    Category rank23/33 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 34
    Category rank26/29 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 26
    Category rank30/33 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 19
    Category rank33/33 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 30
    Category rank29/33 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MUND

ETF.net Research

DA municipal bond ladder in one ticket: bonds maturing on a schedule through 2055, federally tax-exempt income paid monthly, and principal handed back as rungs mature. Built to wind down by its terminal year, not run forever.

Stated mandate

The Fund seeks periodic distributions of federally tax-exempt income and/or principal through 2055. It uses a laddered strategy investing in municipal debt instruments with different maturity dates through the 2055 terminal year.

Why people hold it

  1. 01Works like an actual ladder: munis with staggered maturities through the 2055 terminal year, paying tax-exempt income monthly and returning principal as bonds come due.
  2. 02Costs 0.18% a year, below the 0.30% median for muni bond ETFs. Cheap for a structured, dated strategy rather than a plain index scoop.
  3. 03Spreads the rungs across about 100 US municipal positions, so no single issuer or maturity carries the ladder.

Worth knowing

  1. 01Payouts blend tax-exempt interest with returned principal, and return of capital is disclosed. The distribution is not all yield, and net asset value is designed to shrink toward 2055.
  2. 02Launched in 2025, still small and thinly traded. Wider bid-ask spreads are the trade-off for a niche structure this new.
  3. 03Without the 2055 end date, broad muni staples are cheaper and far more heavily traded: VTEB at 0.03% and MUB at 0.05%.

MUND Holdings

As of Sep 20, 2026, 7:05 AM
Asset class
Bonds
Holdings
65
Top-10 weight
37%
Largest holding
CASH11.8%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASH11.77%230,502$231K414
002—ROCKWALL TEX INDPT SCH DIST UNLTD TAX REF BDS 20253.01%55,000$59K1
003—LUBBOCK TEX ELEC LT &#38; PWR SYS REV BDS 20212.96%55,000$58K1
004—KING CNTY WAS SCH DIST NO 401 HIGHLINE UNLTD TAX2.87%55,000$56K1
005—REDFORD MICH UN SCH DIST NO 001 GO UNLTD TAX BLDG2.85%50,000$56K1
006—BELLVILLE TEX INDPT SCH DIST UNLTD TAX BLDG BDS2.77%50,000$54K1
007—MASSACHUSETTS ST DEV FIN AGY REV BDS 2025 A-22.77%50,000$54K9
008—PASCO CNTY FLA CAP IMPT NON-AD VALOREM REV BDS2.70%50,000$53K1
009—NEW HAMPSHIRE MUN BD BK BDS 2020 A 13/FEB/20202.67%50,000$52K1
010—NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV FUTURE2.63%50,000$52K5
011—YORK CNTY S C SCH DIST NO 4 FORT MILL GO ADV REF2.62%50,000$51K1
012—TRIBOROUGH BRDG &#38; TUNL AUTH N Y REAL ESTATE2.58%50,000$50K2
013—FOX VY TECHNICAL COLLEGE DIST WIS GO PROM NTS2.56%50,000$50K1
014—HARRIS CNTY TEX REF BDS 2025 A 19/AUG/20252.37%45,000$46K1
015—LAKE CNTY ILL CMNTY CONS SCH DIST NO 034 ANTIOCH2.16%40,000$42K1

Showing 1–15 of 65 holdings

MUND Performance

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

MUND$9,928
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MUND $9,928. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for MUND. Periods over one year show the average yearly return.
PeriodMUND
Year to date−2.2%
1 month−2.4%
3 months−3.8%
1 year−0.7%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 MUND
YearReturn barMUND
2026 YTD−2.2%
2025+4.3%

History from Aug 19, 2025

MUND in the news

ETF.net Research hasn’t filed on MUND yet — coverage lands here as it’s written.

MUND 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 Sep 22, 2026.
3.89%Last 12 months
Payout per share
$3.82Last 12 months
Last payment
$0.30 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. 13 payments from 2025 to 2026 YTD. Sep 2, 2025 $0.12; Oct 1, 2025 $0.31; Nov 3, 2025 $0.31; Dec 1, 2025 $0.31; Dec 19, 2025 $0.31; Feb 2, 2026 $0.31; Mar 2, 2026 $0.27; Apr 1, 2026 $0.33; May 1, 2026 $0.30; Jun 1, 2026 $0.31; Jul 1, 2026 $0.41; Aug 3, 2026 $0.34; Sep 1, 2026 $0.30. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 8, 2026$0.30
Aug 3, 2026Aug 7, 2026$0.34
Jul 1, 2026Jul 8, 2026$0.41
Jun 1, 2026Jun 5, 2026$0.31
May 1, 2026May 7, 2026$0.30
Apr 1, 2026Apr 7, 2026$0.33
Mar 2, 2026Mar 6, 2026$0.27
Feb 2, 2026Feb 6, 2026$0.31
Dec 19, 2025Dec 26, 2025$0.31
Dec 1, 2025Dec 5, 2025$0.31
Nov 3, 2025Nov 7, 2025$0.31
Oct 1, 2025Oct 7, 2025$0.31

MUND Risk

How much the fund’s monthly returns vary, scaled to a year.
4.3%
Annualised · 12 months to Aug 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.
0.06
vs 3-month T-bills · 12 months to Aug 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.
−6.2%
13 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.
0.18
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.

MUND Cost

Expense ratio0.18%
  • The middle half of Defined-Maturity Municipal funds
  • Median 0.18%

9 of the 32 Defined-Maturity Municipal funds charge less.

MUND costs $18.00 a year on $10,000. The median Defined-Maturity Municipal fund costs $18.00.