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FLMI vs VCRM: Differences, Returns & Fees

FLMI's duration was 6.8 years on Jun 30, 2026 and VCRM's 7.7 on Jul 31, 2026; VCRM charges 0.12% to FLMI's 0.30%. Net assets: $2.3bn on Oct 9, 2026 for Franklin Dynamic Municipal Bond ETF, and $2.2bn on Sep 30, 2026 for Vanguard Core Tax-Exempt Bond ETF.

VCRM costs 0.18 points a year less; their one-year returns differ by 0.7 points.

FLMIVCRM
Expense ratio0.30%0.12%
Net assets, FLMI as of Oct 9, 2026 and VCRM as of Sep 30, 2026$2.3bn$2.2bn
Total return, 1 year−1.9%−1.2%
What it tracksNo index, actively managedNo index, actively managed
Holdings in common3%
Below its high6.3%, high on Jul 2, 20265.2%, high on Jul 2, 2026

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026.

−1.9%
FLMI total return, 1 year
−1.2%
VCRM total return, 1 year
0.30%
FLMI expense ratio
0.12%
VCRM expense ratio

What they hold in common

By the books each fund has filed, FLMI and VCRM hold 3% 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 and Jul 31, 2026.

half

3% in common

Positions both hold, largest shared weight first
Holding FLMI VCRM
MN MGAUTL 5 09/01/2035, due Sep 1, 2035 0.52% 0.34%
CA CCEDEV 01/01/2055, due Jan 1, 2055 0.41% 0.34%
AL SEEPWR 01/01/2056, due Jan 1, 2056 1.34% 0.33%
KY KYSPWR 5 12/01/2033, due Dec 1, 2033 1.60% 0.23%
AL SEEPWR 03/01/2055, due Mar 1, 2055 0.76% 0.17%
SC SCSMFH 4.5 07/01/2043, due Jul 1, 2043 0.29% 0.17%
KY KYSPWR 5 06/01/2034, due Jun 1, 2034 0.55% 0.15%
KY KYSPWR 5 05/01/2036, due May 1, 2036 1.74% 0.12%
TX TGAUTL 5 01/01/2036, due Jan 1, 2036 0.63% 0.10%
AL ESDPWR 5 11/01/2033, due Nov 1, 2033 0.09% 0.16%
GA MAIUTL 06/01/2053, due Jun 1, 2053 0.15% 0.09%
TN TNSUTL 5 12/01/2035, due Dec 1, 2035 1.42% 0.08%
Only in FLMI
AL SEEPWR 5 11/01/2035, due Nov 1, 2035 1.78%
CA CCEDEV 5 03/01/2036, due Mar 1, 2036 1.47%
IL MPNFAC 4 12/15/2042, due Dec 15, 2042 1.34%
AL BBEUTL 11/01/2056, due Nov 1, 2056 1.32%
TX TXSUTL 5 04/01/2036, due Apr 1, 2036 1.03%
PA PHIMED 07/01/2054, due Jul 1, 2054 0.99%
AL ESDPWR 5 11/01/2035, due Nov 1, 2035 0.90%
AL SEEPWR 5 11/01/2035, due Nov 1, 2035 0.85%
Only in VCRM
UNIVERSITY CINCINNATI OHIO GEN GEN RCPTS BDS 2017 A, due Jun 1, 2045 0.84%
BLACK BELT GAS DT-B, due Oct 1, 2035 0.75%
MASSACHUSETTS ST-A, due Jun 1, 2047 0.67%
BLACK BELT ENERGY-B, due Oct 1, 2055 0.64%
KY PUB ENERGY -A-1, due Aug 1, 2052 0.56%
CHICAGO IL O'HARE INT, due Jan 1, 2047 0.56%
JEFFERSON SALES TAX-B, due Dec 1, 2042 0.55%
BLACK BELT ENERGY-A, due Dec 1, 2034 0.48%

Check overlap with more funds →

On the same fields

FLMI
Franklin Dynamic Municipal Bond ETF
VCRM
Vanguard Core Tax-Exempt Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Franklin Vanguard
What it is Actively managed Actively managed
Total return, 1 year −1.9% −1.2%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −19.2 pts −18.5 pts
Expense ratio 0.30% 0.12%
Holdings 1336 2387
Net assets, FLMI as of Oct 9, 2026 and VCRM as of Sep 30, 2026 $2.3bn $2.2bn

FLMI and VCRM 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.

VCRM in plain words

VCRM is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned −1.2% with distributions reinvested. The prospectus expense ratio is 0.12% a year. It sat 5.2% below its high of Jul 2, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, FLMI or VCRM?
In the year to Oct 9, 2026, with distributions reinvested, FLMI returned −1.9% and VCRM −1.2%.
Which is cheaper, FLMI or VCRM?
VCRM is cheaper, by 0.18 percentage points a year. That is about $18 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FLMI vs FMBFLMI vs TFIFLMI vs LMUBFLMI vs PZAVCRM vs VTEBFMB vs VCRMTFI vs VCRMLMUB vs VCRM
FLMI on its own →VCRM 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 ↗VCRM filings on SEC EDGAR ↗VCRM prospectus with the expense ratio (SEC) ↗Vanguard page for VCRM ↗

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 VCRM, data as of Oct 9, 2026. https://etfiq.com/compare/any/flmi-vs-vcrm

Open data

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