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MUNF

The fund does not yet have enough measurable history for a letter. Young funds age in naturally as their record builds; nothing is wrong.New York Stock Exchange Arca

Northern Trust 2036 Tax-Exempt Distributing Ladder ETF

Target Maturity Bond · FlexShares · Inception 2026-08-25 · SEC filings

$97.82−0.00 (−0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Aug 25, 2026.History starts Aug 25, 2026.History starts Aug 25, 2026.History starts Aug 25, 2026.
Intraday session: down, 5 prints from 98.18 to 97.82. Range 97.82 to 98.18. Use the arrow keys to read each point.$97.90$98.00$98.10$98.20Sep 17Sep 18Sep 22Sep 23
Expense ratio
0.18%
Fund size
$5M
1Y return
—
Yield · Last 12 months
—
Holdings
130
Volume · 30D
0M sh
NAV per share
$98.15
52W range
low $97.82high $100.20

MUNF Holdings

As of Sep 20, 2026, 7:05 AM
Asset class
Bonds
Holdings
130
Top-10 weight
20%
Largest holding
INDIANA ST FIN AUTH REV ST REVOLVING FD REF BDS3.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 9.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—INDIANA ST FIN AUTH REV ST REVOLVING FD REF BDS3.03%145,000$149K3
002—CASH2.68%131,719$132K414
003—ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV REF BDS2.22%105,000$109K3
004—NORTH TEX TWY AUTH REV SYS REF FIRST TIER BDS1.93%90,000$95K3
005—VILLA PARK ILL GEN OBLIG REF BDS 2026 A1.85%85,000$91K1
006—DALLAS FORT WORTH TEX INTL ARPT REV JT REF BDS1.77%85,000$87K2
007—CLARK CNTY WASH PUB UTIL DIST NO 001 GENERATING1.73%80,000$85K1
008—DALLAS TEX GO REF IMPT BDS 2019A 15/MAY/20191.59%75,000$78K4
009—RACINE CNTY WIS GO PROM NTS 2024C 18/DEC/20241.57%75,000$77K1
010—ORLANDO FLA CAP IMPT SPL REV BDS 2018 B1.56%75,000$77K1
011—HILLSBOROUGH CNTY FLA CAP IMPT NON-AD VALOREM REV1.56%70,000$77K1
012—CENTRAL BROWN CNTY WTR AUTH WTR SYS REV WIS REF1.52%70,000$75K1
013—UNIVERSITY SOUTH ALA UNIV REVS FACS BDS 2024-C1.50%70,000$74K1
014—COLLIN CNTY TEX LTD TAX PERM IMPT BDS 20261.48%70,000$73K2
015—CLARK CNTY NEV SALES & EXCISE TAX REV SALES AND1.47%70,000$72K2

Showing 1–15 of 130 holdings

MUNF Performance

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

MUNF$9,955
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,236
Sep 15, 2026 to Sep 22, 2026. MUNF $9,955. SPY $10,236. Use the arrow keys to read each point.$9,933$10,097$10,261Sep 15Sep 18Sep 22

Sep 15, 2026 – Sep 22, 2026

Returns run to the last market 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 MUNF. Periods over one year show the average yearly return.
PeriodMUNF
Year to dateFund launched this year—
1 monthFund is under 1 month old—
3 monthsFund is under 3 months old—
1 yearFund is under 1 year old—
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

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 MUNF
YearReturn barMUNF
2026 YTD−2.4%

Since listing, Aug 25, 2026

MUNF in the news

MUNF 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.
—Last 12 months
Payout per share
—Last 12 months

Listed Aug 2026. No distributions yet.

MUNF Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Aug 2026; fills in after 12 months
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.
—
Launched Aug 2026; fills in after 12 months
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.
—
Launched Aug 2026; fills in after 12 months
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.
0.00
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.

MUNF 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.

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