MUNC vs TSES
Comparison between NORTHERN TRUST 2045 TAX-EXEMPT DISTRIBUTING LADDER ETF (MUNC, ETF) and Truth Social American Energy Security ETF (TSES, ETF).
MUNC vs TSES - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
MUNC
$8.20M
TSES
$8.20M
Expense Ratio
Winner
MUNC
0.18%
TSES
0.65%
Max Drawdown
Winner
MUNC
3.38%
TSES
5.97%
Sharpe Ratio
MUNC
0.74
Winner
TSES
2.53
5Y Beta
Winner
MUNC
0.06
TSES
0.17
P/E Ratio
MUNC
N/A
TSES
26.03
Forward P/E
MUNC
N/A
TSES
16.48
5Y EPS CAGR
MUNC
N/A
TSES
17.51%
Debt to Equity
MUNC
N/A
TSES
88.11%
P/S Ratio
MUNC
N/A
TSES
2.13
P/B Ratio
MUNC
N/A
TSES
2.93
MUNC vs TSES - Holdings Comparison
MUNC and TSES have 1 common holdings. Overlap is 0.06%
MUNC's top 25 holdings weight is 51.36%. TSES's top 25 holdings weight is 76.79%.
| Rank | MUNC | TSES |
|---|---|---|
| #1 | NEW JERSEY ST TRANSN TR FD AUTH 5% (n/a) - 3.34% | EXXON MOBIL CORP (XOM) - 8.25% |
| #2 | UTILITY DEBT SECURITIZATION AUTH N Y 5% (n/a) - 3.31% | CHEVRON CORP (CVX) - 8.16% |
| #3 | SUN PRAIRIE WIS 5% (n/a) - 3.27% | EATON CORP PLC (ETN) - 5.69% |
| #4 | LOS ANGELES CALIF DEPT WTR & PWR REV 5% (n/a) - 3.23% | CONOCOPHILLIPS (COP) - 5.08% |
| #5 | IOWA FIN AUTH REV 5% (n/a) - 3.22% | GE VERNOVA INC (GEV) - 3.78% |
| #6 | WAKE CNTY N C 5% (n/a) - 3.10% | QUANTA SERVICES INC (PWR) - 3.67% |
| #7 | NEW YORK N Y 5% (n/a) - 2.86% | SOUTHERN CO (SO) - 3.11% |
| #8 | CASH (n/a) - 2.43% | DUKE ENERGY CORP (DUK) - 3.07% |
| #9 | ROUND ROCK TEX INDPT SCH DIST 5% (n/a) - 2.17% | NEXTERA ENERGY INC (NEE) - 3.03% |
| #10 | KENTUCKY ST PPTY & BLDGS COMMN REVS 5% (n/a) - 2.13% | WILLIAMS COMPANIES INC (WMB) - 2.94% |
| #11 | MASSACHUSETTS ST 5% (n/a) - 1.98% | VALERO ENERGY CORP (VLO) - 2.60% |
| #12 | CENTRAL FLA TOURISM OVERSIGHT DIST 5% (n/a) - 1.90% | MARATHON PETROLEUM CORP (MPC) - 2.56% |
| #13 | FERRIS ST UNIV MICH REV 5% (n/a) - 1.83% | PHILLIPS 66 (PSX) - 2.49% |
| #14 | n/a (n/a) - 1.76% | AMERICAN ELECTRIC POWER CO INC (AEP) - 2.43% |
| #15 | DISTRICT COLUMBIA INCOME TAX REV 5% (n/a) - 1.56% | CONSTELLATION ENERGY CORP (CEG) - 2.21% |
| #16 | SAN ANTONIO TEX ELEC & GAS REV 5% (n/a) - 1.44% | KINDER MORGAN INC CLASS P (KMI) - 2.08% |
| #17 | IDAHO ST BLDG AUTH SALES TAX REV 5% (n/a) - 1.41% | BLOOM ENERGY CORP CLASS A (BE) - 1.97% |
| #18 | QUITMAN TEX INDPT SCH DIST 5% (n/a) - 1.40% | CHENIERE ENERGY INC (LNG) - 1.92% |
| #19 | ST PAUL MINN INDPT SCH DIST NO 625 5% (n/a) - 1.36% | EOG RESOURCES INC (EOG) - 1.89% |
| #20 | n/a (n/a) - 1.35% | ONEOK INC (OKE) - 1.80% |
| #21 | MADISON CNTY ALA BRD ED CAP OUTLAY 5% (n/a) - 1.32% | DOMINION ENERGY INC (D) - 1.77% |
| #22 | UNIVERSITY WASH UNIV REVS 5% (n/a) - 1.29% | VISTRA CORP (VST) - 1.64% |
| #23 | NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% (n/a) - 1.27% | TARGA RESOURCES CORP (TRGP) - 1.62% |
| #24 | n/a (n/a) - 1.22% | BAKER HUGHES CO CLASS A (BKR) - 1.55% |
| #25 | JEA FLA ELEC SYS REV 5% (n/a) - 1.21% | OCCIDENTAL PETROLEUM CORP (OXY) - 1.48% |
| Total Holdings | 105 | 68 |
MUNC vs TSES - Historical Returns
Returns include dividend reinvestment.
1M
Winner
MUNC
+0.42%
TSES
-1.95%
3M
MUNC
+0.40%
Winner
TSES
+2.78%
6M
MUNC
+1.36%
Winner
TSES
+22.21%
1Y
MUNC
+4.73%
TSES
N/A
Max(CAGR)
MUNC
+5.84%
Winner
TSES
+56.30%
MUNC vs TSES - Annual Returns (2025 - 2026)
Returns include dividend reinvestment.
| Year | MUNC | TSES |
|---|---|---|
| 2026 | +0.86% | +20.48% |
| 2025 | +3.78% | -0.56% |
MUNC vs TSES 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 TSES was -5.64%, occurring on Jun 11, 2026. This drawdown has not yet recovered.
The current MUNC drawdown is -1.37%. The current TSES drawdown is -4.59%.
| Rank | MUNC | TSES |
|---|---|---|
| #1 | -3.17% Feb 26, 2026 - Mar 27, 2026 | -5.64% May 5, 2026 - Jun 11, 2026 |
| #2 | -0.57% Sep 17, 2025 - Oct 10, 2025 | -3.15% Mar 27, 2026 - Apr 29, 2026 |
| #3 | -0.56% Jan 16, 2026 - Jan 28, 2026 | -2.33% Mar 2, 2026 - Mar 17, 2026 |
| #4 | -0.33% Nov 11, 2025 - Dec 23, 2025 | -2.06% Mar 19, 2026 - Mar 24, 2026 |
| #5 | -0.25% Oct 24, 2025 - Nov 7, 2025 | -2.02% Jan 5, 2026 - Jan 12, 2026 |
| #6 | -0.18% Feb 3, 2026 - Feb 5, 2026 | -1.82% Jan 30, 2026 - Feb 3, 2026 |
| #7 | -0.14% Feb 17, 2026 - Feb 23, 2026 | -0.98% Feb 3, 2026 - Feb 6, 2026 |
| #8 | -0.09% Dec 23, 2025 - Dec 30, 2025 | -0.93% Jan 16, 2026 - Jan 21, 2026 |
| #9 | -0.09% Aug 29, 2025 - Sep 4, 2025 | -0.78% Apr 30, 2026 - May 5, 2026 |
| #10 | -0.07% Aug 19, 2025 - Aug 22, 2025 | -0.65% Feb 11, 2026 - Feb 13, 2026 |
| #11 | -0.06% Feb 24, 2026 - Feb 26, 2026 | -0.56% Dec 30, 2025 - Jan 2, 2026 |
| #12 | -0.04% Oct 17, 2025 - Oct 21, 2025 | -0.41% Jan 22, 2026 - Jan 27, 2026 |
| #13 | -0.04% Feb 10, 2026 - Feb 12, 2026 | -0.40% Feb 13, 2026 - Feb 18, 2026 |
| #14 | -0.03% Oct 10, 2025 - Oct 14, 2025 | -0.35% Jan 12, 2026 - Jan 14, 2026 |
| #15 | -0.03% Oct 22, 2025 - Oct 24, 2025 | -0.21% Mar 24, 2026 - Mar 27, 2026 |
Correlation
Correlation between MUNC and TSES is 0.12 which considered as a very weak or no correlation - the stocks move independently of each other.
0.12
-101
Dividend Comparison (2025 - 2026)
MUNC vs TSES dividend yield comparison.
| Year | MUNC | TSES |
|---|---|---|
| 2026 | 1.35% | 0.79% |
| 2025 | 1.15% | 0.00% |
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