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FLMI vs TFI: Differences, Returns & Fees

On Jun 30, 2026 FLMI's duration was 6.8 years and TFI's 6.0; TFI charges 0.23% to FLMI's 0.30%. Net assets: $2.3bn on Oct 9, 2026 for Franklin Dynamic Municipal Bond ETF, and $2.8bn on Oct 8, 2026 for State Street SPDR Nuveen ICE Municipal Bond ETF.

TFI costs 0.07 points a year less; their one-year returns differ by 0.8 points; TFI is 1.2 times larger.

FLMITFI
Expense ratio0.30%0.23%
Net assets, as of Oct 8, 2026$2.3bn$2.8bn
Total return, 1 year−1.9%−2.7%
What it tracksNo index, actively managedICE 1+ Year AMT-Free Broad Municipal Index ?
Holdings in common1%
Below its high6.3%, high on Jul 2, 20266.2%, high on Jul 19, 2021

Holdings in common uses holdings dated Jun 30, 2026.

−1.9%
FLMI total return, 1 year
−2.7%
TFI total return, 1 year
0.30%
FLMI expense ratio
0.23%
TFI expense ratio

What they hold in common

By the books each fund has filed, FLMI and TFI hold 1% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.

half

1% in common

Positions both hold, largest shared weight first
Holding FLMI TFI
IL ILS 5.5 03/01/2047, due Mar 1, 2047 0.25% 0.10%
GA GASHSG 5.05 12/01/2045, due Dec 1, 2045 0.09% 0.10%
AL ESDPWR 11/01/2053, due Nov 1, 2053 0.10% 0.07%
CA CCEDEV 01/01/2054, due Jan 1, 2054 0.41% 0.07%
KY KYSPWR 01/01/2055, due Jan 1, 2055 0.10% 0.07%
GA MAIUTL 06/01/2053, due Jun 1, 2053 0.15% 0.07%
NJ NJSTRN 4.25 06/15/2040, due Jun 15, 2040 0.32% 0.07%
IL ILS 5.25 10/01/2047, due Oct 1, 2047 0.23% 0.07%
FL MIATRN 5 07/01/2052, due Jul 1, 2052 0.30% 0.07%
NY MTATRN 5 11/15/2050, due Nov 15, 2050 0.29% 0.06%
TN TNSUTL 05/01/2052, due May 1, 2052 0.29% 0.06%
TN TNSUTL 5 12/01/2035, due Dec 1, 2035 1.42% 0.05%
Only in FLMI
AL SEEPWR 5 11/01/2035, due Nov 1, 2035 1.78%
KY KYSPWR 5 05/01/2036, due May 1, 2036 1.74%
KY KYSPWR 5 12/01/2033, due Dec 1, 2033 1.60%
IL MPNFAC 4 12/15/2042, due Dec 15, 2042 1.34%
AL SEEPWR 01/01/2056, due Jan 1, 2056 1.34%
AL BBEUTL 11/01/2056, due Nov 1, 2056 1.32%
AL BBEUTL 5 10/01/2035, due Oct 1, 2035 1.27%
TX TXSUTL 5 04/01/2036, due Apr 1, 2036 1.03%
Only in TFI
CALIFORNIA ST, due Nov 1, 2027 0.23%
NEW YORK NY, due Aug 1, 2031 0.22%
NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE, due Jun 15, 2047 0.20%
UNIV OF CALIFORNIA CA REVENUES, due May 15, 2040 0.20%
WASHINGTON ST, due Feb 1, 2028 0.20%
TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX, due Nov 15, 2028 0.20%
MADISON WI, due Oct 1, 2032 0.20%
GEORGIA ST, due Jul 1, 2030 0.19%

Check overlap with more funds →

On the same fields

FLMI
Franklin Dynamic Municipal Bond ETF
TFI
State Street SPDR Nuveen ICE Municipal Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Franklin State Street
What it is Actively managed Tracks an index
Total return, 1 year −1.9% −2.7%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −19.2 pts −19.9 pts
Expense ratio 0.30% 0.23%
Holdings 1336 1990
Net assets, FLMI as of Oct 9, 2026 and TFI as of Oct 8, 2026 $2.3bn $2.8bn

FLMI and TFI on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

FLMI in plain words

FLMI is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned −1.9% with distributions reinvested. The prospectus expense ratio is 0.30% a year. It sat 6.3% below its high of Jul 2, 2026 on Oct 9, 2026.

TFI in plain words

TFI tracks an index. Over the year to Oct 9, 2026 it returned −2.7% with distributions reinvested. The prospectus expense ratio is 0.23% a year. It sat 6.2% below its high of Jul 19, 2021 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, FLMI or TFI?
In the year to Oct 9, 2026, with distributions reinvested, FLMI returned −1.9% and TFI −2.7%.
Which is cheaper, FLMI or TFI?
TFI is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FLMI vs TAFMFLMI vs VTEBFLMI vs VCRMFLMI vs SCMBTFI vs VCRMTFI vs VTEBFMB vs TFILMUB vs TFI
FLMI on its own →TFI on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FLMI filings on SEC EDGAR ↗FLMI prospectus with the expense ratio (SEC) ↗Franklin website ↗TFI filings on SEC EDGAR ↗TFI prospectus with the expense ratio (SEC) ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FLMI against TFI, data as of Oct 9, 2026. https://etfiq.com/compare/any/flmi-vs-tfi

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.