MUNB ETF — Northern Trust 2035 Tax-Exempt Distributing Ladder ETF

Northern Trust 2035 Tax-Exempt Distributing Ladder ETF (MUNB)

Updated October 16, 2026.

MUNB is a low-cost ETF. its distribution rate is 2.49%, its trailing-12-month yield is 2.39%, its expense ratio is 0.18%. Dividend Vision Distribution Safety Score™ is 86/100 (Safe). Total return is 1.0% over the past 1.2 years, 19.9 points behind SPY at 20.9%.

Northern Trust 2035 Tax-Exempt Distributing Ladder ETF is an ETF that invests at least 80% of its assets in investment-grade tax-exempt bonds, primarily those rated in the top three categories, with a target maturity around 2035. The fund distributes monthly and currently carries a modest distribution rate. This fund may appeal to investors in higher tax brackets seeking tax-free income with a defined time horizon aligned to the fund's 2035 target date.

MUNB performance versus SPY

Price and return data through 2026-10-16.

Total return is 1.0% over the past 1.2 years, 19.9 points behind SPY at 20.9%. Its deepest 1-year drawdown was 4.8%.

MUNB key facts

Distribution Safety Score™

86 · Safe

Safety-Adjusted Yield

2.14%

Issuer

Northern Trust

Asset type

ETF

Asset class

Fixed Income

Inception date

08/18/2025

Expense ratio

0.18%

Distribution rate

2.49%

Distribution frequency

Monthly

Trailing yield

2.39%

Last close

$98.44 (as of 2026-10-16)

AUM

$13,653,604

Average volume

7.0

Dividend

$0.204

Ex-dividend date

10/01/2026

Payment date

10/07/2026

Beta

0.0413

How Dividend Vision calculates yield and returns

Distribution rate (2.49%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (2.39%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Northern Trust; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MUNB risks and drawbacks

MUNB's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 4.8%.

Who may consider MUNB — and who may not

MUNB may suit someone looking for low-cost broad dividend exposure, a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MUNB

• All tickers starting with M

Tagged: Bonds, Fixed Income, Target.

Frequently asked questions

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