FLMB vs TAFM
Franklin Municipal Green Bond ETF vs AB Tax-Aware Intermediate Municipal ETF
Which is better, FLMB or TAFM?
Nearly the same fund. TAFM costs less.
TAFM has a lower expense ratio. FLMB led over 3Y, TAFM over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98.
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 | TAFM |
|---|---|---|
| Expense Ratio | 0.30% | 0.28%Best |
| AUM | $52M | $1.2B |
| Dividend Yield | 4.34% | 3.74% |
| Holdings | 635 | 1,519 |
| YTD Return | -0.35% | +0.51%Best |
| 1Y Return | -0.03% | +0.81%Best |
| 3Y Return (annualized) | +4.35%Best | +3.06% |
| 5Y Return (annualized) | +0.18% | - |
| Volatility (annualized) | 6.1% | 4.9%Best |
| Max Drawdown | -8.5% | -6.6%Best |
| $10,000 over 2.9 years | $10,767 | $10,913Best |
| 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 2.9 years row, are measured over the window both funds cover: Dec 13, 2023 to Nov 10, 2026 (2.9 years).
FLMB vs TAFM 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 2.9 years both funds cover.
FLMB vs TAFM Performance
Franklin Municipal Green Bond ETF (FLMB) is an ETF from Franklin Templeton Investments (US) and AB Tax-Aware Intermediate Municipal ETF (TAFM) is an ETF from AllianceBernstein L.P.. Over the past year FLMB returned -0.03% while TAFM returned +0.81%. Year to date, FLMB is down 0.35% versus a gain of 0.51% for TAFM.
Over three years, FLMB compounded at +4.35% per year against +3.06% for TAFM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FLMB has been the more volatile fund, with annualized monthly volatility of 6.1% compared with 4.9% for TAFM. 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 -6.6% for TAFM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. 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 TAFM 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 4.34% against 3.74% for TAFM.
Holdings Overlap
We hold position weights for 115 holdings in FLMB and 264 in TAFM, totalling 32.1% and 30.9% 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, 15 positions appear in both.
15 positions in common, counted across the 115 positions we hold weights for in FLMB and 264 in TAFM, against full books of 635 and 1,519.
Top Shared Holdings
| Stock | Weight in FLMB | Weight in TAFM | Difference |
|---|---|---|---|
| NY NYTTRN 6 06/30/20New York St Transprtn Dev Corp Nyttrn 06/55 Fixed 6 | 0.99% | 0.47% | 0.52% |
| WI PUBTRN 5.75 06/30Public Fin Auth Wi Toll Revenu Pubtrn 06/60 Fixed Oid 5.75 | 0.46% | 0.27% | 0.19% |
| NH NFADEV 3.62 08/20New Hampshire Business Finance Authority | 0.51% | 0.01% | 0.50% |
| NY SOBGEN 6 12/01/20Suffolk Regl Off-Track Betting Regd Oid B/E 6.00000000 12/01/53 | 0.42% | 0.09% | 0.33% |
| AL SEEPWR 03/01/2055S E Energ Vrn 03/01/55 | 0.19% | 0.23% | 0.04% |
| CA CCHHSG 4 02/01/20CALIFORNIA CM 4% 2/1/2056 | 0.39% | 0.01% | 0.38% |
| NY NYTTRN 5.62 04/01New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - Laguardia Airport Terminals C&D Redevelopment 5.625 05-12-2027 | 0.35% | 0.05% | 0.30% |
| WI PUBTRN 5.75 12/31Pub Fin A 5.75% 12/31/65 | 0.18% | 0.18% | 0.00% |
| OK TULAPT 6.25 12/01Tulapt 6.250 12/01/35 | 0.02% | 0.20% | 0.18% |
| CA CMFHSG 3 08/01/20Cmfa Special Finance Agency Vii 2056-08-01 | 0.20% | 0.01% | 0.19% |
You are not choosing between two funds in isolation.
Whichever of FLMB and TAFM 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 TAFM?
FLMB has an expense ratio of 0.30% while TAFM charges 0.28%. TAFM is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, FLMB or TAFM?
Over the past year FLMB returned -0.03% vs +0.81% for TAFM, so TAFM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLMB or TAFM?
FLMB has been the more volatile fund at 6.1% annualized versus 4.9% for TAFM. Worst drawdown: FLMB -8.5% vs TAFM -6.6%.
Should I hold both FLMB and TAFM?
FLMB and TAFM have a monthly-return correlation of 0.98, 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 TAFM?
FLMB yields 4.34% while TAFM yields 3.74%, so FLMB currently pays the higher dividend yield.
Is TAFM better than FLMB?
TAFM has a lower expense ratio. FLMB led over 3Y, TAFM over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.