INDE vs MUNB
Comparison between MATTHEWS INDIA ACTIVE ETF (INDE, ETF) and NORTHERN TRUST 2035 TAX-EXEMPT DISTRIBUTING LADDER ETF (MUNB, ETF).
INDE vs MUNB - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
INDE
$14M
MUNB
$14M
Expense Ratio
INDE
0.79%
Winner
MUNB
0.18%
Max Drawdown
INDE
24.66%
Winner
MUNB
3.01%
Sharpe Ratio
Winner
INDE
-0.35
MUNB
-1.10
5Y Beta
INDE
0.43
Winner
MUNB
0.04
INDE vs MUNB - Holdings Comparison
INDE and MUNB have 1 common holdings. Overlap is 0.00%
INDE's top 25 holdings weight is 72.47%. MUNB's top 25 holdings weight is 30.03%.
| Rank | INDE | MUNB |
|---|---|---|
| #1 | ETERNAL LTD (n/a) - 7.47% | RACINE CNTY WIS 4% (n/a) - 3.15% |
| #2 | THANGAMAYIL JEWELLERY LTD (n/a) - 7.02% | DISTRICT COLUMBIA 5% (n/a) - 2.29% |
| #3 | HDFC BANK LTD (n/a) - 6.97% | CHIPPEWA VALLEY WIS TECH COLLEGE DIST 4% (n/a) - 1.68% |
| #4 | ICICI BANK LTD (n/a) - 5.69% | NEW MEXICO FIN AUTH REV 5% (n/a) - 1.65% |
| #5 | NEULAND LABORATORIES LTD (n/a) - 3.81% | DISTRICT COLUMBIA REV 5% (n/a) - 1.52% |
| #6 | BAJAJ FINANCE LTD (n/a) - 3.68% | CENTRAL FLA EXPWY AUTH SR LIENREV 5% (n/a) - 1.46% |
| #7 | SHRIRAM FINANCE LTD (n/a) - 3.47% | WISCONSIN ST 5% (n/a) - 1.28% |
| #8 | BHARTI AIRTEL LTD (n/a) - 3.14% | WASHINGTON ST CTFS PARTN 5% (n/a) - 1.21% |
| #9 | RELIANCE INDUSTRIES LTD (n/a) - 2.94% | GARDNER KANS 3.5% (n/a) - 1.12% |
| #10 | AXIS BANK LTD (n/a) - 2.94% | WASHINGTON ST 5% (n/a) - 1.10% |
| #11 | HFCL LTD (n/a) - 2.48% | n/a (n/a) - 1.06% |
| #12 | MARICO LTD (n/a) - 2.20% | NEENAH WIS JT SCH DIST 5% (n/a) - 1.02% |
| #13 | KOTAK MAHINDRA BANK LTD (n/a) - 1.96% | WHEELING ILL 4% (n/a) - 0.97% |
| #14 | STAR HEALTH AND ALLIED INSURANCE CO LTD (n/a) - 1.94% | INDIANA ST FIN AUTH REV 5% (n/a) - 0.95% |
| #15 | MAHINDRA & MAHINDRA LTD (n/a) - 1.86% | TALLAHASSEE FLA CAP BDS 5% (n/a) - 0.94% |
| #16 | SWIGGY LTD (n/a) - 1.72% | DALLAS FORT WORTH TEX INTL ARPT REV 5% (n/a) - 0.94% |
| #17 | ATHER ENERGY LTD (n/a) - 1.64% | NEW HAMPSHIRE MUN BD BK 5% (n/a) - 0.92% |
| #18 | HINDUSTAN UNILEVER LTD (n/a) - 1.62% | n/a (n/a) - 0.90% |
| #19 | THERMAX LTD (n/a) - 1.52% | IDAHO ST BLDG AUTH SALES TAX REV 5% (n/a) - 0.89% |
| #20 | TATA CONSUMER PRODUCTS LTD (n/a) - 1.45% | SUN PRAIRIE WIS 5% (n/a) - 0.85% |
| #21 | BHARAT HEAVY ELECTRICALS LTD (n/a) - 1.44% | CLARK CNTY NEV SCH DIST 5% (n/a) - 0.84% |
| #22 | AVALON TECHNOLOGIES LTD (n/a) - 1.40% | NEW MEXICO FIN AUTH ST TRANSN REV 5% (n/a) - 0.84% |
| #23 | MAX FINANCIAL SERVICES LTD (n/a) - 1.39% | DUTCHESS CNTY N Y 4% (n/a) - 0.83% |
| #24 | STATE BANK OF INDIA (n/a) - 1.38% | MEMPHIS TENN 5% (n/a) - 0.82% |
| #25 | STERLITE TECHNOLOGIES LTD (n/a) - 1.34% | COTTAGE GROVE VLG WIS 5% (n/a) - 0.80% |
| Total Holdings | 71 | 200 |
INDE vs MUNB - Historical Returns
Returns include dividend reinvestment.
1M
Winner
INDE
-0.69%
MUNB
-1.05%
3M
Winner
INDE
+3.97%
MUNB
-1.08%
6M
Winner
INDE
+1.79%
MUNB
-1.08%
1Y
INDE
-3.47%
Winner
MUNB
+1.55%
Max(CAGR)
Winner
INDE
+5.73%
MUNB
+1.68%
INDE vs MUNB - Annual Returns (2023 - 2026)
Returns include dividend reinvestment.
| Year | INDE | MUNB |
|---|---|---|
| 2026 | -5.08% | -0.38% |
| 2025 | +0.48% | +1.91% |
| 2024 | +11.19% | N/A |
| 2023 | +8.18% | N/A |
INDE vs MUNB Drawdown Comparison
The maximum drawdown for INDE was -22.89%, occurring on Mar 30, 2026. This drawdown has not yet recovered.
The maximum drawdown for MUNB was -2.49%, occurring on Mar 27, 2026. This drawdown has not yet recovered.
The current INDE drawdown is -11.76%. The current MUNB drawdown is -2.15%.
| Rank | INDE | MUNB |
|---|---|---|
| #1 | -22.89% Sep 23, 2024 - Mar 30, 2026 | -2.49% Feb 27, 2026 - Mar 27, 2026 |
| #2 | -6.26% Jun 3, 2024 - Jun 12, 2024 | -0.62% Sep 17, 2025 - Dec 18, 2025 |
| #3 | -5.21% Mar 1, 2024 - Apr 29, 2024 | -0.16% Jan 15, 2026 - Jan 23, 2026 |
| #4 | -4.94% Oct 17, 2023 - Oct 31, 2023 | -0.11% Jan 12, 2026 - Jan 15, 2026 |
| #5 | -4.15% Jul 16, 2024 - Aug 21, 2024 | -0.06% Sep 11, 2025 - Sep 15, 2025 |
| #6 | -3.76% May 2, 2024 - May 24, 2024 | -0.03% Feb 9, 2026 - Feb 12, 2026 |
| #7 | -3.18% Feb 7, 2024 - Feb 15, 2024 | -0.03% Feb 17, 2026 - Feb 20, 2026 |
| #8 | -3.05% Jan 12, 2024 - Jan 29, 2024 | -0.02% Dec 19, 2025 - Dec 24, 2025 |
| #9 | -2.96% Oct 31, 2023 - Nov 10, 2023 | -0.02% Aug 20, 2025 - Aug 22, 2025 |
| #10 | -2.30% Dec 19, 2023 - Jan 5, 2024 | -0.00% Jan 27, 2026 - Jan 29, 2026 |
| #11 | -2.07% May 24, 2024 - Jun 3, 2024 | N/A |
| #12 | -2.03% Feb 23, 2024 - Mar 1, 2024 | N/A |
| #13 | -1.61% Sep 4, 2024 - Sep 12, 2024 | N/A |
| #14 | -1.46% Sep 25, 2023 - Oct 6, 2023 | N/A |
| #15 | -1.27% Oct 6, 2023 - Oct 11, 2023 | N/A |
Correlation
Correlation between INDE and MUNB is -0.02 which considered as a very weak or no correlation - the stocks move independently of each other.
-0.02
-101
Dividend Comparison (2024 - 2026)
INDE vs MUNB dividend yield comparison.
| Year | INDE | MUNB |
|---|---|---|
| 2026 | 0.00% | 1.11% |
| 2025 | 1.75% | 0.90% |
| 2024 | 0.56% | 0.00% |
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