Skip to content
etf.net

IBMO vs MUNC

iShares iBonds Dec 2026 Term Muni Bond ETF

IBMOACboe

Northern Trust 2045 Tax-Exempt Distributing Ladder ETF

MUNCDNYSE Arca

Overlap

No data

Expense ratio

IBMO −0.08pt a year

IBMO0.10%MUNC0.18%

Avg volume · 30D

IBMO 101.2×the volume

IBMO84.8KMUNC838

IBMO vs MUNC Performance

Nov 7, 2025 – Nov 9, 2026

+2.7%IBMO+1.0%MUNC

Nov 7, 2025 to Nov 9, 2026. IBMO +2.7%. MUNC +1.0%. Use the arrow keys to read each point.−4%−2%0%Nov 2025May 2026Nov 2026
Expense ratio
IBMO 0.10%, better
MUNC 0.18%
Fund size
IBMO $494M
MUNC $8M
1Y total return
IBMO +2.7%, better
MUNC +1.0%
Yield (12M)
IBMO 2.41%
MUNC 3.28%, better
Holdings
IBMO 213
MUNC 172
Avg volume (30D)
IBMO 84.8K sh, better
MUNC 838 sh
NAV per share
IBMO $25.62
MUNC $100.70
52W range

ETF.net Grade

IBMO: Cost 87, Risk 69, Mission 100, Tradability 84, Holdings 21, Durability 94. MUNC: Cost 45, Risk 41, Mission 20, Tradability 40, Holdings 52, Durability 31.
Pillar letters and Scores for IBMO, MUNC, with each pillar’s weight
PillarIBMOMUNC
Cost30% weightA87HigherC45
Mission25% weightA100HigherF20
Risk15% weightB69HigherC41
Tradability15% weightA84HigherC40
Holdings10% weightF21C52Higher
Durability5% weightA94HigherD31

Rank among Defined-Maturity Municipal funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IBMO and MUNC are both graded against the same 32 Defined-Maturity Municipal funds, so their Grades compare head to head.

Defined-Maturity Municipal⁠

Category · 32 funds
See all 32 ›

IBMO ranks 4th and MUNC 24th of 32 funds in the Defined-Maturity Municipal Category.

  1. Rank 1AIBMPiShares iBonds Dec 2027 Term Muni Bond ETFScore 87
  2. Rank 1AIBMQiShares iBonds Dec 2028 Term Muni Bond ETFScore 87
  3. Rank 3AIBMRiShares iBonds Dec 2029 Term Muni Bond ETFScore 82
  4. Rank 4AIBMOiShares iBonds Dec 2026 Term Muni Bond ETFScore 80
  5. Rank 5AIBMTiShares iBonds Dec 2031 Term Muni Bond ETFScore 73
  6. Rank 23DMYMKState Street My2031 Municipal Bond ETFScore 38
  7. Rank 24DMUNCNorthern Trust 2045 Tax-Exempt Distributing Ladder ETFScore 37
  8. Rank 25DMYMFState Street My2026 Municipal Bond ETFScore 26

Our read on each fund

ETF.net Research

IBMOAiShares iBonds Dec 2026 Term Muni Bond ETF

MUNCDNorthern Trust 2045 Tax-Exempt Distributing Ladder ETF

In short

IBMO No data

MUNC A twenty-rung municipal bond ladder in one ticker. MUNC pays monthly tax-exempt income and hands principal back each year as rungs mature through 2045, so nobody has to shop for individual bonds.

Stated mandate

IBMO No data

MUNC The Fund uses an actively managed laddered bond strategy, investing in tax-exempt debt instruments with different maturity dates through 2045.

Why people hold it

IBMO No data

  • MUNC Buys the whole ladder for you: roughly 150 munis spread across 20 annual rungs running through 2045, with principal returned as each rung matures.flexshares.com
  • Interest is exempt from regular federal income tax, and it pays monthly, so income lands on a calendar instead of at scattered coupon dates.flexshares.comnortherntrust.com
  • Part of a four-fund suite with 5, 10, 20 and 30 year terminal dates. MUNC is the 20-year version, actively managed by Northern Trust.northerntrust.com
  • Cohort favorites like IBDU and BSCT are single-maturity-year term funds. MUNC holds two decades of rungs at once, which is a different job entirely.flexshares.com

Worth knowing

IBMO No data

  • MUNC 0.18% a year, against a 0.10% median for target-maturity bond funds. That premium buys active muni selection and the ladder plumbing.
  • It returns principal annually by design, so the share price steps down over time. Some of each year's cash is your own capital coming back, not yield.northerntrust.comflexshares.com
  • Launched in 2025 and still a small, lightly traded fund, so spreads can run wider than at long-established muni ETFs. Matters most on big orders.

Full IBMO profile⁠

Full MUNC profile⁠

IBMO vs MUNC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IBMO vs MUNC Cost

Overpaying MUNC vs IBMO

$1,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IBMO 0.10%

    $2,106

  • MUNC 0.18%

    $3,749

$10,000
30 years

Cost over time

  • IBMO 0.10%
  • MUNC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530MUNC $3,749IBMO $2,106

Year by year

YearIBMOMUNCOverpaying
10$183$328$145
20$717$1,281$564
30$2,106$3,749$1,643

Expense ratio

  • 0.10%IBMO, cheaper
  • 0.18%MUNC
  • Middle half of Defined-Maturity Municipal funds
  • Median 0.18%

IBMO cheapest of 32 funds

MUNC 10th cheapest of 32 funds

IBMO vs MUNC Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
IBMO 2.41%
MUNC 3.28%, better
Payout (12M)
IBMO $0.62
MUNC $3.30
Last payment
IBMO $0.05
MUNC $0.30
Ex-dividend
IBMO Nov 2, 2026
MUNC Nov 2, 2026
Paid on
IBMO Nov 5, 2026
MUNC Nov 6, 2026
Frequency
IBMO Monthly
MUNC Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IBMOMonthly · 46 paymentsAll IBMO payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.03; Mar 1, 2023 $0.04; Apr 3, 2023 $0.03; May 1, 2023 $0.03; Jun 1, 2023 $0.03; Jul 3, 2023 $0.04; Aug 1, 2023 $0.03; Sep 1, 2023 $0.03; Oct 2, 2023 $0.04; Nov 1, 2023 $0.04; Dec 1, 2023 $0.04; Dec 14, 2023 $0.04; Feb 1, 2024 $0.04; Mar 1, 2024 $0.05; Apr 1, 2024 $0.04; May 1, 2024 $0.04; Jun 3, 2024 $0.05; Jul 1, 2024 $0.05; Aug 1, 2024 $0.05; Sep 3, 2024 $0.05; Oct 1, 2024 $0.05; Nov 1, 2024 $0.05; Dec 2, 2024 $0.05; Dec 18, 2024 $0.05; Feb 3, 2025 $0.05; Mar 3, 2025 $0.05; Apr 1, 2025 $0.05; May 1, 2025 $0.05; Jun 2, 2025 $0.05; Jul 1, 2025 $0.05; Aug 1, 2025 $0.05; Sep 2, 2025 $0.05; Oct 1, 2025 $0.05; Nov 3, 2025 $0.05; Dec 1, 2025 $0.05; Dec 19, 2025 $0.05; Feb 2, 2026 $0.05; Mar 2, 2026 $0.05; Apr 1, 2026 $0.05; May 1, 2026 $0.05; Jun 1, 2026 $0.05; Jul 1, 2026 $0.05; Aug 3, 2026 $0.05; Sep 1, 2026 $0.05; Oct 1, 2026 $0.06; Nov 2, 2026 $0.05. Use the arrow keys to read each point.$0$0.2520232026YTD
MUNCMonthly · 15 paymentsAll MUNC payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Sep 2, 2025 $0.11; Oct 1, 2025 $0.27; Nov 3, 2025 $0.27; Dec 1, 2025 $0.26; Dec 19, 2025 $0.27; Feb 2, 2026 $0.34; Mar 2, 2026 $0.23; Apr 1, 2026 $0.27; May 1, 2026 $0.27; Jun 1, 2026 $0.28; Jul 1, 2026 $0.26; Aug 3, 2026 $0.28; Sep 1, 2026 $0.28; Oct 1, 2026 $0.27; Nov 2, 2026 $0.30. Use the arrow keys to read each point.$0$0.2520232026YTD

IBMO vs MUNC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IBMO 1.6%MUNC 6.4%since Sep 2025
Return per unit of riskSharpe ratio, 3 years
IBMO −0.66MUNC −0.16since Sep 2025
Worst fallMax drawdown, 5 years
IBMO −8.3%MUNC −6.8%since Aug 2025
Market sensitivityBeta, 5 years
IBMO 0.27MUNC 0.18

Popular comparisons

  • IBMOAvsIBMPA

    iShares iBonds Dec 2026 Term Muni Bond ETF · iShares iBonds Dec 2027 Term Muni Bond ETF

    Expense ratio
    0.10% · 0.10%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MUNCDvsIBMPA

    Northern Trust 2045 Tax-Exempt Distributing Ladder ETF · iShares iBonds Dec 2027 Term Muni Bond ETF

    Expense ratio
    0.18% · 0.10%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBMOAvsIBMQA

    iShares iBonds Dec 2026 Term Muni Bond ETF · iShares iBonds Dec 2028 Term Muni Bond ETF

    Expense ratio
    0.10% · 0.10%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MUNCDvsIBMQA

    Northern Trust 2045 Tax-Exempt Distributing Ladder ETF · iShares iBonds Dec 2028 Term Muni Bond ETF

    Expense ratio
    0.18% · 0.10%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBMOAvsIBMRA

    iShares iBonds Dec 2026 Term Muni Bond ETF · iShares iBonds Dec 2029 Term Muni Bond ETF

    Expense ratio
    0.10% · 0.10%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MUNCDvsIBMRA

    Northern Trust 2045 Tax-Exempt Distributing Ladder ETF · iShares iBonds Dec 2029 Term Muni Bond ETF

    Expense ratio
    0.18% · 0.10%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.