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MUNC vs SPY

Comparison between NORTHERN TRUST 2045 TAX-EXEMPT DISTRIBUTING LADDER ETF (MUNC, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

MUNC vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
MUNC
$8.20M
Winner
SPY
$784B
Expense Ratio
MUNC
0.18%
Winner
SPY
0.09%
Max Drawdown
Winner
MUNC
3.38%
SPY
56.47%
Sharpe Ratio
MUNC
0.75
Winner
SPY
1.56
5Y Beta
Winner
MUNC
0.06
SPY
1.00
P/E Ratio
MUNC
N/A
SPY
28.29
Forward P/E
MUNC
N/A
SPY
21.75
5Y Dividends CAGR
MUNC
N/A
SPY
5.43%
5Y EPS CAGR
MUNC
N/A
SPY
25.98%
Debt to Equity
MUNC
N/A
SPY
30.79%
P/S Ratio
MUNC
N/A
SPY
3.79
P/B Ratio
MUNC
N/A
SPY
5.67

MUNC vs SPY - Holdings Comparison

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

MUNC's top 25 holdings weight is 51.36%. SPY's top 25 holdings weight is 52.46%.

RankMUNCSPY
#1
NEW JERSEY ST TRANSN TR FD AUTH 5% (n/a) - 3.34%
NVIDIA CORP (NVDA) - 8.30%
#2
UTILITY DEBT SECURITIZATION AUTH N Y 5% (n/a) - 3.31%
APPLE INC (AAPL) - 7.09%
#3
SUN PRAIRIE WIS 5% (n/a) - 3.27%
MICROSOFT CORP (MSFT) - 5.02%
#4
LOS ANGELES CALIF DEPT WTR & PWR REV 5% (n/a) - 3.23%
AMAZON.COM INC (AMZN) - 3.84%
#5
IOWA FIN AUTH REV 5% (n/a) - 3.22%
BROADCOM INC (AVGO) - 3.50%
#6
WAKE CNTY N C 5% (n/a) - 3.10%
ALPHABET INC CLASS A (GOOGL) - 3.23%
#7
NEW YORK N Y 5% (n/a) - 2.86%
ALPHABET INC CLASS C (GOOG) - 2.57%
#8
CASH (n/a) - 2.43%
META PLATFORMS INC CLASS A (META) - 2.00%
#9
ROUND ROCK TEX INDPT SCH DIST 5% (n/a) - 2.17%
MICRON TECHNOLOGY INC (MU) - 1.84%
#10
KENTUCKY ST PPTY & BLDGS COMMN REVS 5% (n/a) - 2.13%
TESLA INC (TSLA) - 1.83%
#11
MASSACHUSETTS ST 5% (n/a) - 1.98%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.32%
#12
CENTRAL FLA TOURISM OVERSIGHT DIST 5% (n/a) - 1.90%
ADVANCED MICRO DEVICES INC (AMD) - 1.30%
#13
FERRIS ST UNIV MICH REV 5% (n/a) - 1.83%
ELI LILLY AND CO (LLY) - 1.29%
#14
n/a (n/a) - 1.76%
JPMORGAN CHASE & CO (JPM) - 1.24%
#15
DISTRICT COLUMBIA INCOME TAX REV 5% (n/a) - 1.56%
EXXON MOBIL CORP (XOM) - 0.96%
#16
SAN ANTONIO TEX ELEC & GAS REV 5% (n/a) - 1.44%
JOHNSON & JOHNSON (JNJ) - 0.82%
#17
IDAHO ST BLDG AUTH SALES TAX REV 5% (n/a) - 1.41%
VISA INC CLASS A (V) - 0.82%
#18
QUITMAN TEX INDPT SCH DIST 5% (n/a) - 1.40%
INTEL CORP (INTC) - 0.78%
#19
ST PAUL MINN INDPT SCH DIST NO 625 5% (n/a) - 1.36%
CISCO SYSTEMS INC (CSCO) - 0.77%
#20
n/a (n/a) - 1.35%
WALMART INC (WMT) - 0.76%
#21
MADISON CNTY ALA BRD ED CAP OUTLAY 5% (n/a) - 1.32%
COSTCO WHOLESALE CORP (COST) - 0.65%
#22
UNIVERSITY WASH UNIV REVS 5% (n/a) - 1.29%
CATERPILLAR INC (CAT) - 0.65%
#23
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% (n/a) - 1.27%
ORACLE CORP (ORCL) - 0.64%
#24
n/a (n/a) - 1.22%
LAM RESEARCH CORP (LRCX) - 0.64%
#25
JEA FLA ELEC SYS REV 5% (n/a) - 1.21%
APPLIED MATERIALS INC (AMAT) - 0.60%
Total Holdings105505

MUNC vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
MUNC
+0.42%
Winner
SPY
+0.48%
3M
MUNC
+0.40%
Winner
SPY
+11.67%
6M
MUNC
+1.36%
Winner
SPY
+9.42%
1Y
MUNC
+4.73%
Winner
SPY
+24.27%
5Y(CAGR)
MUNC
N/A
SPY
+13.36%
10Y(CAGR)
MUNC
N/A
SPY
+15.42%
Max(CAGR)
MUNC
+5.84%
Winner
SPY
+8.49%

MUNC vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearMUNCSPY
2026+0.86%+8.88%
2025+3.78%+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%

MUNC vs SPY Drawdown Comparison

The maximum drawdown for MUNC was -3.17%, 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 MUNC drawdown is -1.37%. The current SPY drawdown is -2.35%.

RankMUNCSPY
#1-3.17%
Feb 26, 2026 - Mar 27, 2026		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-0.57%
Sep 17, 2025 - Oct 10, 2025		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-0.56%
Jan 16, 2026 - Jan 28, 2026		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-0.33%
Nov 11, 2025 - Dec 23, 2025		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-0.25%
Oct 24, 2025 - Nov 7, 2025		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-0.18%
Feb 3, 2026 - Feb 5, 2026		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-0.14%
Feb 17, 2026 - Feb 23, 2026		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-0.09%
Dec 23, 2025 - Dec 30, 2025		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-0.09%
Aug 29, 2025 - Sep 4, 2025		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-0.07%
Aug 19, 2025 - Aug 22, 2025		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-0.06%
Feb 24, 2026 - Feb 26, 2026		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-0.04%
Oct 17, 2025 - Oct 21, 2025		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-0.04%
Feb 10, 2026 - Feb 12, 2026		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-0.03%
Oct 10, 2025 - Oct 14, 2025		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-0.03%
Oct 22, 2025 - Oct 24, 2025		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between MUNC and SPY is 0.65 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.65
-101

Dividend Comparison (1999 - 2026)

MUNC vs SPY dividend yield comparison.

YearMUNCSPY
20261.35%0.24%
20251.15%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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