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MUNG

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 2046 Tax-Exempt Distributing Ladder ETF

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

$97.42−0.00 (−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 98.02 to 97.42. Range 97.42 to 98.02. Use the arrow keys to read each point.$97.60$97.80$98.00Sep 17Sep 18Sep 22Sep 23
Expense ratio
0.18%
Fund size
$10M
1Y return
—
Yield · Last 12 months
—
Holdings
183
Volume · 30D
0M sh
NAV per share
$97.69
52W range
low $97.42high $100.20

MUNG Holdings

As of Sep 20, 2026, 7:05 AM
Asset class
Bonds
Holdings
183
Top-10 weight
19%
Largest holding
IDAHO BD BK AUTH REV REF BDS 2026A 27/MAY/20262.4%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 13.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—IDAHO BD BK AUTH REV REF BDS 2026A 27/MAY/20262.37%215,000$231K1
002—RUTHERFORD CNTY TENN GEN OBLIG REF BDS 20262.24%200,000$219K1
003—CASH2.18%213,012$213K414
004—WASHINGTON ST VAR PURP GO BDS 2021 C 25/FEB/20212.08%195,000$204K2
005—CARROLLTON GA INDPT SCH SYS GEN OBLIG BDS B2.07%175,000$202K1
006—ILLINOIS ST SALES TAX REV JR OBLIG BUILD BDS1.97%185,000$193K6
007—KENTUCKY ST TPK AUTH ECONOMIC DEV RD REV REF BDS1.74%160,000$170K5
008—INDIANA ST FIN AUTH REV REVOLVING FD PROG BDS1.58%150,000$154K3
009—GRANITE SCH DIST UTAH SALT LAKE CNTY GO BLDG BDS1.56%145,000$152K2
010—ST JOHNS CNTY FLA SPL OBLIG REV REF BDS 20251.51%145,000$148K1
011—ST JOHNS CNTY FLA SPL OBLIG REV REF BDS 20251.40%125,000$136K1
012—NORTHEAST WIS TECHNICAL COLLEGE DIST WIS GO PROM1.26%120,000$123K1
013—SALES TAX SECURITIZATION CORP ILL REF BDS 2024A1.26%120,000$123K3
014—MARLBORO CNTY S C SCH DIST GO REF BDS 20241.23%115,000$120K1
015—PIERCE CNTY WASH SCH DIST NO 401 PENINSULA UNLTD1.20%115,000$118K1

Showing 1–15 of 183 holdings

MUNG Performance

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

MUNG$9,971
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. MUNG $9,971. 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 MUNG. Periods over one year show the average yearly return.
PeriodMUNG
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 MUNG
YearReturn barMUNG
2026 YTD−2.8%

Since listing, Aug 25, 2026

MUNG in the news

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

MUNG 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.

MUNG 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.

MUNG 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.

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