# Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/munc for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: FlexShares · Asset class: Fixed Income - Strategy: Actively Managed · Inception: 2025-08-18 This fund aims to provide consistent distributions, comprising federally tax-exempt income or principal, through the year 2045. It is well-suited for investors who employ a spend-down strategy to cover their recurring expenditures, benefiting from a twenty-year horizon of tax-free monthly income and annual principal payouts. ## Key Facts | Metric | Value | |---|---| | Price | $99.58 | | Expense Ratio | 0.18% | | Assets Under Management | $8.0M | | NAV | $99.68 | | Holdings Count | 172 | | Distribution Yield (TTM) | 3.29% | | Annual Distribution (TTM) | $3.28 /share | | Distribution Frequency | Monthly | | 52-Week Range | $95.88 – $104.81 | | Beta | 0.20 | ## Latest Distribution - Amount: $0.2670 /share - Ex-date: 2026-10-01 - Pay date: 2026-10-07 ## Frequently Asked Questions ### What does MUNC invest in? This fund aims to provide consistent distributions, comprising federally tax-exempt income or principal, through the year 2045. It is well-suited for investors who employ a spend-down strategy to cover their recurring expenditures, benefiting from a twenty-year horizon of tax-free monthly income and annual principal payouts. ### What is the expense ratio of MUNC? Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) charges an expense ratio of 0.18%. This is the annual fee deducted from fund assets to cover management and operations. ### What is MUNC's dividend yield? MUNC's trailing-twelve-month yield is 3.29%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of MUNC? Effective duration measures MUNC's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. MUNC's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of MUNC? MUNC's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of MUNC? Yield to maturity (YTM) is the total return you'd earn from MUNC if every bond in the portfolio is held to maturity at the current price. MUNC's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does MUNC pay a dividend? Yes, Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) distributes dividends to shareholders. The trailing-twelve-month yield is 3.29%. Full dividend history is on this page. ### How often does MUNC pay dividends? Northern Trust 2045 Tax-Exempt Distributing Ladder ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is MUNC's next ex-dividend date? The most recently announced ex-dividend date for MUNC was 2026-10-01. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will MUNC's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.18% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does MUNC charge its expense ratio? The expense ratio is deducted in tiny daily slices from MUNC's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does MUNC cost more than a fund like VOO? MUNC is actively managed (current expense ratio 0.18%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether MUNC's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to MUNC? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as MUNC (0.18%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/munc - Distribution history: https://www.dividenddata.com/funds/munc/dividend - Holdings & diversification: https://www.dividenddata.com/funds/munc/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/munc/expenses - Peer comparison: https://www.dividenddata.com/funds/munc/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.