Northern Trust 2045 Tax-Exempt Distributing… (MUNC) Performance
MUNC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.1% since Dec 31, 2025
- 1 year
- −0.6% total return
- Since first price
- +2.7% since 2025
MUNC trailing returns vs SPY, QQQ, AGG
| Period | MUNC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.0% | +1.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.5% | −1.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.9% | −3.5% | +7.8% | +8.4% | −1.5% |
| YTD | −1.1% | −3.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −0.6% | −3.7% | +14.4% | +15.9% | −1.1% |
| Since inceptionAug 19, 2025 | +2.7% | −0.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MUNC vs SPY
From Aug 19, 2025: MUNC grew to $10,268, SPY to $12,039.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MUNC returns by calendar year
2026 is year to date.
MUNC annual returns table
| Year | MUNC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −1.1% | −6.8% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MUNC risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −0.2% |
| Volatility (annualized) | 5.5% |
| Sharpe ratio | -0.68 |
| Sortino ratio | -0.77 |
| Best month | +2.0% |
| Worst month | −3.1% |
| Best 12 months | +3.0% |
| Worst 12 months | −2.2% |
| Positive months | 69% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MUNC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 3 | −2.2% | −0.6% | +3.0% | 33% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
MUNC performance overview
Northern Trust 2045 Tax-Exempt Distributing… (MUNC) returned −0.6% over the past year, with distributions reinvested. Since its first recorded price on Aug 19, 2025 it has returned +2.7%. Over the same year S&P 500 (SPY) returned +14.4%.
Related: MUNC chart, MUNC dividends. See the MUNC overview for the latest quote and fund facts.
MUNC performance FAQ
What is the MUNC return over the past year?
MUNC returned −0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.7%.
How much would $10,000 invested in MUNC be worth?
$10,000 invested in MUNC at its first recorded close on August 19, 2025 would be worth about $10,268 on October 23, 2026 with distributions reinvested.
How volatile is MUNC?
Over the past history MUNC had an annualized volatility of 5.5% and a Sharpe ratio of -0.68 (excess return over 1–3 month T-bills per unit of risk).