MUNC vs VOO
MUNC vs VOO
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MUNC | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | |
| AUM | $8M | $979.0B | |
| Dividend Yield | 2.50% | 1.09% | |
| Holdings | 151 | 509 | |
| YTD Return | -0.10% | +13.80% | |
| 1Y Return | +3.72% | +23.71% | |
| 3Y Return (annualized) | - | +21.50% | |
| 5Y Return (annualized) | - | +13.44% | |
| Volatility (annualized) | 4.6% | 14.1% | |
| Max Drawdown | -3.2% | -34.3% | |
| Fund Family | Northern Trust Asset Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 28, 2025 | Sep 7, 2010 |
MUNC vs VOO Performance
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF (MUNC) is a ETF from Northern Trust Asset Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year MUNC returned +3.72% while VOO returned +23.71%. Year to date, MUNC is down 0.10% versus a gain of 13.80% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 4.6% for MUNC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -3.2% for MUNC and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MUNC charges 0.18% per year while VOO charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, MUNC currently yields 2.50% against 1.09% for VOO.
Holdings Overlap
MUNC and VOO share 0 holdings out of 533 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MUNC or VOO?
MUNC has an expense ratio of 0.18% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, MUNC or VOO?
Over the past year MUNC returned +3.72% vs +23.71% for VOO, so VOO leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, MUNC or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 4.6% for MUNC. Worst drawdown: MUNC -3.2% vs VOO -34.3%.
Should I hold both MUNC and VOO?
MUNC and VOO have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MUNC and VOO?
MUNC and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 533 unique securities.
Which pays a higher dividend, MUNC or VOO?
MUNC yields 2.50% while VOO yields 1.09%, so MUNC currently pays the higher dividend yield.
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