---
ticker: "MUNF"
name: "Northern Trust 2036 Tax-Exempt Distributing Ladder ETF"
url: "https://etf.net/etf/MUNF"
grade: null
no_grade_reason: "Not yet graded"
methodology: "https://etf.net/methodology"
---

# MUNF: Northern Trust 2036 Tax-Exempt Distributing Ladder ETF

Not graded: Not yet graded. The fund does not yet have enough measurable history for a letter. Young funds age in naturally as their record builds; nothing is wrong.

## Top holdings

The fund holds 130 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Indiana St Fin Auth Rev St Revolving Fd Ref Bds | 3.05% |
| 2 | — | Cash | 2.69% |
| 3 | — | Illinois St Toll Hwy Auth Toll Highway Rev Ref Bds | 2.23% |
| 4 | — | North Tex Twy Auth Rev Sys Ref First Tier Bds | 1.93% |
| 5 | — | Villa Park Ill Gen Oblig Ref Bds 2026 A | 1.85% |
| 6 | — | Dallas Fort Worth Tex Intl Arpt Rev Jt Ref Bds | 1.78% |
| 7 | — | Clark Cnty Wash Pub Util Dist No 001 Generating | 1.73% |
| 8 | — | Dallas Tex Go Ref Impt Bds 2019A 15/MAY/2019 | 1.60% |
| 9 | — | Racine Cnty Wis Go Prom Nts 2024C 18/DEC/2024 | 1.57% |
| 10 | — | Orlando Fla Cap Impt Spl Rev Bds 2018 B | 1.57% |
| 11 | — | Hillsborough Cnty Fla Cap Impt Non-Ad Valorem Rev | 1.55% |
| 12 | — | Central Brown Cnty Wtr Auth Wtr Sys Rev Wis Ref | 1.52% |
| 13 | — | University South Ala Univ Revs Facs Bds 2024-C | 1.51% |
| 14 | — | Collin Cnty Tex Ltd Tax Perm Impt Bds 2026 | 1.49% |
| 15 | — | Clark Cnty Nev Sales & Excise Tax Rev Sales and | 1.48% |
| 16 | — | Texas Pub Fin Auth Lease Rev Ref Bds 2024 | 1.47% |
| 17 | — | Metropolitan Govt Nashville & Davidson Cnty Tenn | 1.46% |
| 18 | — | Bradley Ill Gen Oblig Bds 2025A 24/NOV/2025 | 1.41% |
| 19 | — | Lawrenceville Ga Bldg Auth Rev Ref Bds 2025 | 1.40% |
| 20 | — | Kenosha Cnty Wis Go Prom Nts 2025A 04/SEP/2025 | 1.40% |
| 21 | — | Wilson Cnty Tenn Unltd Tax Dist Sch Ref Bds 2026 | 1.39% |
| 22 | — | Jea Fla Elec Sys Rev Bds 2020A Ser 3 22/JUL/2020 | 1.36% |
| 23 | — | Idaho St Bldg Auth Sales Tax Rev Ed Bds 2025A | 1.32% |
| 24 | — | Miami-Dade Cnty Fla Wtr & Swr Rev Sys Bds 2025 A | 1.32% |
| 25 | — | Naples Fla Cap Impt Rev Bds 2024 22/AUG/2024 | 1.32% |
| 26 | — | Holly Springs Ga Urban Redev Agy Rev Bds 2025 | 1.31% |
| 27 | — | Florida St Tpk Auth Tpk Rev Dept Transn Ref Bds | 1.30% |
| 28 | — | Guilford Cnty N C Go Sch Bds 2025 12/MAR/2025 | 1.30% |
| 29 | — | Oklahoma St Capitol Impt Auth St Facs Rev Ref Bds | 1.27% |
| 30 | — | Tukwila Wash Unltd Tax Go Bds 2019 23/OCT/2019 | 1.25% |

Source: etf.net, https://etf.net/etf/MUNF. Please cite the page URL.