FLMB vs TAFL
Franklin Municipal Green Bond ETF vs AB Tax-Aware Long Municipal ETF
Which is better, FLMB or TAFL?
Nearly the same fund. TAFL costs less.
TAFL has a lower expense ratio. FLMB led over the full window, TAFL over 1Y. The two have moved almost in lockstep, correlation 0.97.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FLMB | TAFL |
|---|---|---|
| Expense Ratio | 0.30% | 0.28%Best |
| AUM | $53M | $60M |
| Dividend Yield | 4.14% | 4.17% |
| Holdings | 77 | 326 |
| YTD Return | -5.00% | -4.77%Best |
| 1Y Return | -4.08% | -4.06%Best |
| 3Y Return (annualized) | +3.04% | - |
| 5Y Return (annualized) | -0.68% | - |
| Volatility (annualized) | 5.7% | 5.5%Best |
| Max Drawdown | -8.5% | -8.1%Best |
| $10,000 over 2.8 years | $10,263Best | $10,248 |
| Fund Family | Franklin Templeton Investments (US) | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Aug 31, 2017 | Dec 13, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Dec 13, 2023 to Oct 12, 2026 (2.8 years).
FLMB vs TAFL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.8 years both funds cover.
FLMB vs TAFL Performance
Franklin Municipal Green Bond ETF (FLMB) is an ETF from Franklin Templeton Investments (US) and AB Tax-Aware Long Municipal ETF (TAFL) is an ETF from AllianceBernstein L.P.. Over the past year FLMB returned -4.08% while TAFL returned -4.06%. Year to date, FLMB is down 5.00% versus a loss of 4.77% for TAFL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FLMB has been the more volatile fund, with annualized monthly volatility of 5.7% compared with 5.5% for TAFL. 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 -8.5% for FLMB and -8.1% for TAFL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FLMB charges 0.30% per year while TAFL charges 0.28%. On a $10,000 position that is $30 vs $28 annually, a gap of $2 per year that compounds over a long holding period. On income, FLMB currently yields 4.14% against 4.17% for TAFL.
Holdings Overlap
We hold position weights for 22 holdings in FLMB and 68 in TAFL, totalling 40.5% and 50.6% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 3 positions appear in both.
3 positions in common, counted across the 22 positions we hold weights for in FLMB and 68 in TAFL, against full books of 77 and 326.
Top Shared Holdings
| Stock | Weight in FLMB | Weight in TAFL | Difference |
|---|---|---|---|
| CA CCEDEV 01/01/2054California Cmnty Choice Fing A 5.25 01/01/2054 | 4.65% | 1.56% | 3.09% |
| OR PTPAPT 4 07/01/20Port Portland Ore Airport Rev 4.00 07/01/2047 | 0.77% | 0.65% | 0.12% |
| PR PRCGEN 5 07/01/20Puerto Rico Sales Tax Financing Corp Sa 5.000 07/01/2058 | 0.69% | 0.70% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of FLMB and TAFL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FLMB or TAFL?
FLMB has an expense ratio of 0.30% while TAFL charges 0.28%. TAFL is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, FLMB or TAFL?
Over the past year FLMB returned -4.08% vs -4.06% for TAFL, so TAFL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLMB or TAFL?
FLMB has been the more volatile fund at 5.7% annualized versus 5.5% for TAFL. Worst drawdown: FLMB -8.5% vs TAFL -8.1%.
Should I hold both FLMB and TAFL?
FLMB and TAFL have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, FLMB or TAFL?
FLMB yields 4.14% while TAFL yields 4.17%, so TAFL currently pays the higher dividend yield.
Is TAFL better than FLMB?
TAFL has a lower expense ratio. FLMB led over the full window, TAFL over 1Y. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.