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FMB vs TAFM: Differences, Returns & Fees

FMB's duration was 6.8 years on Jul 31, 2026 and TAFM's 6.4 on May 31, 2026; TAFM charges 0.28% to FMB's 0.39%. Net assets: $1.9bn on Oct 9, 2026 for First Trust Managed Municipal ETF, and $1.0bn on Oct 8, 2026 for AB Tax-Aware Intermediate Municipal ETF.

TAFM costs 0.11 points a year less; both returned −2.1% over a year; FMB is 1.9 times larger.

FMBTAFM
Expense ratio0.39%0.28%
Net assets, as of Oct 8, 2026$1.9bn$1.0bn
Total return, 1 year−2.1%−2.1%
What it tracksNo index, actively managedNo index, actively managed
Holdings in common3%
Below its high5.8%, high on Jul 6, 20265.6%, high on Jul 6, 2026

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

−2.1%
FMB total return, 1 year
−2.1%
TAFM total return, 1 year
0.39%
FMB expense ratio
0.28%
TAFM expense ratio

What they hold in common

By the books each fund has filed, FMB and TAFM 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 May 31, 2026 and Jul 31, 2026.

half

3% in common

Positions both hold, largest shared weight first
Holding FMB TAFM
TN TNSUTL 5 11/01/2034, due Nov 1, 2034 0.44% 0.24%
AL SEEPWR 5 10/01/2030, due Oct 1, 2030 0.21% 0.19%
CA CCEDEV 5 12/01/2035, due Dec 1, 2035 0.19% 0.18%
AL SEEPWR 5 09/01/2035, due Sep 1, 2035 0.26% 0.18%
AL ESDPWR 5 11/01/2035, due Nov 1, 2035 0.28% 0.17%
NE CENPWR 05/01/2054, due May 1, 2054 0.15% 0.17%
CO COSMED 5 05/15/2044, due May 15, 2044 0.14% 0.24%
KY KYSPWR 5 05/01/2036, due May 1, 2036 0.13% 0.61%
AL SEEPWR 10/01/2055, due Oct 1, 2055 0.15% 0.13%
TN TNSUTL 5 12/01/2035, due Dec 1, 2035 0.13% 0.17%
VA VASDEV 5 07/01/2038, due Jul 1, 2038 0.13% 0.26%
AL JEFUTL 5.25 10/01/2040, due Oct 1, 2040 0.12% 0.22%
Only in FMB
KY MEADEV 08/01/2061, due Aug 1, 2061 0.79%
GA MAIUTL 09/01/2052, due Sep 1, 2052 0.71%
AL BBEUTL 10/01/2052, due Oct 1, 2052 0.50%
NY NYCGEN 4 11/01/2037, due Nov 1, 2037 0.48%
AL ESDPWR 11/01/2053, due Nov 1, 2053 0.44%
GA ATLAPT 4 07/01/2037, due Jul 1, 2037 0.43%
NY NYSHGR 5 03/15/2038, due Mar 15, 2038 0.40%
AL SEEPWR 11/01/2051, due Nov 1, 2051 0.40%
Only in TAFM
MARYLAND ST ECON DEV CORP PRIV ACTIVITY REVENUE, due Jun 30, 2055 0.74%
BROWARD CNTY FL SCH DIST, due Jun 25, 2026 0.69%
CHICAGO IL TRANSIT AUTH SALES TAX RECPTS REVENUE, due Dec 1, 2049 0.59%
PUBLIC FIN AUTH WI TOLL REVENUE, due Jun 30, 2060 0.57%
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Aug 1, 2055 0.54%
VAIL CO COPS, due Dec 1, 2064 0.52%
NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE, due Jun 30, 2059 0.52%
FEDERAL HOME LOAN MTGE CORP MF VARIABLE RATE CTFS, due Aug 25, 2041 0.49%

Check overlap with more funds →

On the same fields

FMB
First Trust Managed Municipal ETF
TAFM
AB Tax-Aware Intermediate Municipal ETF
Where it sits Bond ETF Bond ETF
Issuer First Trust AllianceBernstein
What it is Actively managed Actively managed
Total return, 1 year −2.1% −2.1%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −19.4 pts −19.4 pts
Expense ratio 0.39% 0.28%
Holdings 1249 564
Net assets, FMB as of Oct 9, 2026 and TAFM as of Oct 8, 2026 $1.9bn $1.0bn

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

FMB in plain words

FMB is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned −2.1% with distributions reinvested. The prospectus expense ratio is 0.39% a year. It sat 5.8% below its high of Jul 6, 2026 on Oct 9, 2026.

TAFM in plain words

TAFM is actively managed and tracks no index. The prospectus expense ratio is 0.28% a year. It sat 5.6% below its high of Jul 6, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, FMB or TAFM?
In the year to Oct 9, 2026, with distributions reinvested, FMB returned −2.1% and TAFM −2.1%.
Which is cheaper, FMB or TAFM?
TAFM is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FMB vs LMUBFMB vs SCMBFMB vs MUBFMB vs VTEBTAFM vs VCRMTAFM vs TFIPZA vs TAFMJMUB vs TAFM
FMB on its own →TAFM on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FMB filings on SEC EDGAR ↗FMB prospectus with the expense ratio (SEC) ↗First Trust page for FMB ↗TAFM filings on SEC EDGAR ↗TAFM prospectus with the expense ratio (SEC) ↗

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, FMB against TAFM, data as of Oct 9, 2026. https://etfiq.com/compare/any/fmb-vs-tafm

Open data

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