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MUNB vs SPY

Comparison between NORTHERN TRUST 2035 TAX-EXEMPT DISTRIBUTING LADDER ETF (MUNB, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

MUNB vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
MUNB
$12M
Winner
SPY
$735B
Expense Ratio
MUNB
0.18%
Winner
SPY
0.09%
Max Drawdown
Winner
MUNB
2.61%
SPY
56.47%
Sharpe Ratio
MUNB
-0.19
Winner
SPY
1.62
5Y Beta
Winner
MUNB
0.04
SPY
1.00
P/E Ratio
MUNB
N/A
SPY
28.99
Forward P/E
MUNB
N/A
SPY
22.37
5Y Dividends CAGR
MUNB
N/A
SPY
5.43%
5Y EPS CAGR
MUNB
N/A
SPY
26.05%
Debt to Equity
MUNB
N/A
SPY
32.40%
P/S Ratio
MUNB
N/A
SPY
3.74
P/B Ratio
MUNB
N/A
SPY
5.61

MUNB vs SPY - Holdings Comparison

MUNB and SPY have 1 common holdings. Overlap is 0.00%

MUNB's top 25 holdings weight is 35.52%. SPY's top 25 holdings weight is 52.37%.

RankMUNBSPY
#1
CASH (n/a) - 1.96%
NVIDIA CORP (NVDA) - 8.10%
#2
CENTRAL FLA EXPWY AUTH SR LIENREV 5% (n/a) - 1.89%
APPLE INC (AAPL) - 7.02%
#3
NEW MEXICO FIN AUTH REV 5% (n/a) - 1.87%
MICROSOFT CORP (MSFT) - 4.79%
#4
WISCONSIN ST 5% (n/a) - 1.80%
AMAZON.COM INC (AMZN) - 4.02%
#5
GARDNER KANS 3.5% (n/a) - 1.71%
ALPHABET INC CLASS A (GOOGL) - 3.51%
#6
n/a (n/a) - 1.63%
BROADCOM INC (AVGO) - 3.10%
#7
DISTRICT COLUMBIA 5% (n/a) - 1.59%
ALPHABET INC CLASS C (GOOG) - 2.79%
#8
NEENAH WIS JT SCH DIST 5% (n/a) - 1.57%
META PLATFORMS INC CLASS A (META) - 2.08%
#9
TALLAHASSEE FLA CAP BDS 5% (n/a) - 1.47%
TESLA INC (TSLA) - 1.89%
#10
WASHINGTON ST CTFS PARTN 5% (n/a) - 1.46%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
DALLAS FORT WORTH TEX INTL ARPT REV 5% (n/a) - 1.45%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12
BALTIMORE MD REV 5% (n/a) - 1.43%
ELI LILLY AND CO (LLY) - 1.31%
#13
RACINE CNTY WIS 4% (n/a) - 1.33%
JPMORGAN CHASE & CO (JPM) - 1.28%
#14
SUN PRAIRIE WIS 5% (n/a) - 1.31%
ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15
NEW MEXICO FIN AUTH ST TRANSN REV 5% (n/a) - 1.30%
EXXON MOBIL CORP (XOM) - 0.97%
#16
CLARK CNTY NEV SCH DIST 5% (n/a) - 1.30%
INTEL CORP (INTC) - 0.90%
#17
DUTCHESS CNTY N Y 4% (n/a) - 1.29%
JOHNSON & JOHNSON (JNJ) - 0.86%
#18
WASHINGTON ST 5% (n/a) - 1.25%
VISA INC CLASS A (V) - 0.85%
#19
n/a (n/a) - 1.20%
WALMART INC (WMT) - 0.81%
#20
OHIO ST PARKS & REC CAP FACS 5% (n/a) - 1.19%
CISCO SYSTEMS INC (CSCO) - 0.72%
#21
DELAWARE ST 5% (n/a) - 1.19%
COSTCO WHOLESALE CORP (COST) - 0.69%
#22
NORTH SLOPE BORO ALASKA 5% (n/a) - 1.15%
CATERPILLAR INC (CAT) - 0.66%
#23
EL PASO TEX INDPT SCH DIST 5% (n/a) - 1.12%
MASTERCARD INC CLASS A (MA) - 0.62%
#24
n/a (n/a) - 1.06%
LAM RESEARCH CORP (LRCX) - 0.62%
#25
RICHLAND WASH ELEC UTIL REV 5% (n/a) - 1.00%
ABBVIE INC (ABBV) - 0.58%
Total Holdings134505

MUNB vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
MUNB
+0.41%
Winner
SPY
+1.90%
3M
MUNB
-0.45%
Winner
SPY
+8.55%
6M
MUNB
+0.95%
Winner
SPY
+8.18%
1Y
MUNB
N/A
SPY
+25.79%
5Y(CAGR)
MUNB
N/A
SPY
+13.32%
10Y(CAGR)
MUNB
N/A
SPY
+15.19%
Max(CAGR)
MUNB
+3.30%
Winner
SPY
+8.47%

MUNB vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearMUNBSPY
2026+0.65%+8.26%
2025+1.91%+18.00%
2024N/A+25.59%
2023N/A+26.72%
2022N/A-18.64%
2021N/A+30.52%
2020N/A+17.28%
2019N/A+31.09%
2018N/A-5.24%
2017N/A+20.78%
2016N/A+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

MUNB vs SPY Drawdown Comparison

The maximum drawdown for MUNB was -2.49%, occurring on Mar 27, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current MUNB drawdown is -1.13%. The current SPY drawdown is -2.90%.

RankMUNBSPY
#1-2.49%
Feb 27, 2026 - Mar 27, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-0.62%
Sep 17, 2025 - Dec 18, 2025		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-0.16%
Jan 15, 2026 - Jan 23, 2026		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-0.11%
Jan 12, 2026 - Jan 15, 2026		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-0.06%
Sep 11, 2025 - Sep 15, 2025		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-0.03%
Feb 9, 2026 - Feb 12, 2026		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-0.03%
Feb 17, 2026 - Feb 20, 2026		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-0.02%
Dec 19, 2025 - Dec 24, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-0.02%
Aug 20, 2025 - Aug 22, 2025		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-0.00%
Jan 27, 2026 - Jan 29, 2026		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11N/A-9.05%
Jul 19, 2007 - Oct 5, 2007
#12N/A-8.88%
Jan 27, 2026 - Apr 14, 2026
#13N/A-8.41%
Jul 16, 2024 - Sep 19, 2024
#14N/A-7.35%
Sep 14, 2012 - Jan 2, 2013
#15N/A-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between MUNB and SPY is 0.60 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.60
-101

Dividend Comparison (1999 - 2026)

MUNB vs SPY dividend yield comparison.

YearMUNBSPY
20260.89%0.24%
20250.90%1.07%
20240.00%1.21%
20230.00%1.40%
20220.00%1.65%
20210.00%1.20%
20200.00%1.52%
20190.00%1.75%
20180.00%2.04%
20170.00%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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