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SMMU vs TAFI: Differences, Returns & Fees

SMMU's duration was 1.7 years on Jun 30, 2026 and TAFI's 1.9 on May 31, 2026; TAFI charges 0.27% to SMMU's 0.35%. Net assets: $1.1bn on Jun 30, 2026 for PIMCO Short Term Municipal Bond Active Exchange-Traded Fund, and $1.4bn on Oct 8, 2026 for AB Tax-Aware Short Duration Municipal ETF.

TAFI costs 0.08 points a year less; their one-year returns differ by 0.6 points.

SMMUTAFI
Expense ratio0.35%0.27%
Net assets, SMMU as of Jun 30, 2026 and TAFI as of Oct 8, 2026$1.1bn$1.4bn
Total return, 1 year+1.1%+0.5%
What it tracksNo index, actively managedNo index, actively managed
Holdings in common4%

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

+1.1%
SMMU total return, 1 year
+0.5%
TAFI total return, 1 year
0.35%
SMMU expense ratio
0.27%
TAFI expense ratio

What they hold in common

By the books each fund has filed, SMMU and TAFI hold 4% 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 Jun 30, 2026.

half

4% in common

Positions both hold, largest shared weight first
Holding SMMU TAFI
Triborough Bridge & Tunnel Authority, due Mar 1, 2028 0.55% 0.29%
Ohio Air Quality Development Authority, due Sep 1, 2030 0.26% 0.33%
Black Belt Energy Gas District, due Mar 1, 2055 0.25% 0.25%
West Virginia Economic Development Authority, due Mar 1, 2040 0.26% 0.24%
Southeast Energy Authority A Cooperative District, due Jan 1, 2054 0.22% 0.26%
Harris County Housing Finance Corp., due Sep 1, 2043 0.39% 0.20%
Black Belt Energy Gas District, due Dec 1, 2053 0.19% 0.19%
Harris County Cultural Education Facilities Finance Corp., due Jul 1, 2054 0.18% 0.30%
Indiana Finance Authority, due Oct 1, 2062 0.18% 0.19%
Bay Area Toll Authority, due Apr 1, 2056 0.17% 0.24%
State of Illinois, due May 1, 2030 0.71% 0.17%
Kentucky Public Energy Authority, due May 1, 2036 0.28% 0.17%
Only in SMMU
U.S. Treasury Notes, due Feb 29, 2028 2.24%
U.S. Treasury Notes, due Feb 28, 2031 1.81%
Connecticut State Health & Educational Facilities Authority, due Jul 1, 2057 1.75%
Federal Home Loan Bank Discount Notes, due Sep 4, 2026 1.68%
New York City Municipal Water Finance Authority, due Jun 15, 2050 1.34%
Fort Bend Independent School District, due Aug 1, 2055 1.25%
Tarrant County Cultural Education Facilities Finance Corp., due Nov 15, 2063 1.22%
U.S. Treasury Notes, due Apr 30, 2031 1.19%
Only in TAFI
COLORADO ST EDUC LOAN PROGRAM, due Jun 30, 2026 1.53%
TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES, due Jan 1, 2031 0.97%
QUINCY MA, due Jul 24, 2026 0.68%
PUERTO RICO CMWLTH, due Jul 1, 2027 0.63%
UNIV OF CALIFORNIA CA REVENUES, due May 15, 2030 0.61%
ILLINOIS ST FIN AUTH REVENUE, due Nov 15, 2037 0.56%
NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE, due Jan 1, 2030 0.55%
COLORADO ST EDUC LOAN PROGRAM, due Jun 30, 2026 0.53%

Check overlap with more funds →

On the same fields

SMMU
PIMCO Short Term Municipal Bond Active Exchange-Traded Fund
TAFI
AB Tax-Aware Short Duration Municipal ETF
Where it sits Bond ETF Bond ETF
Issuer PIMCO AllianceBernstein
What it is Actively managed Actively managed
Total return, 1 year +1.1% +0.5%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −16.1 pts −16.8 pts
Expense ratio 0.35% 0.27%
Holdings 348 684
Net assets, SMMU as of Jun 30, 2026 and TAFI as of Oct 8, 2026 $1.1bn $1.4bn

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

SMMU in plain words

SMMU is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +1.1% with distributions reinvested. The prospectus expense ratio is 0.35% a year.

TAFI in plain words

TAFI is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +0.5% with distributions reinvested. The prospectus expense ratio is 0.27% a year.

Questions people ask

Which returned more over the last year, SMMU or TAFI?
In the year to Oct 9, 2026, with distributions reinvested, SMMU returned +1.1% and TAFI +0.5%.
Which is cheaper, SMMU or TAFI?
TAFI is cheaper, by 0.08 percentage points a year. That is about $8 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
SMMU vs SUBMEAR vs SMMUCGSM vs SMMUSHM vs SMMUMEAR vs TAFICGSM vs TAFITAFI vs VTESJMST vs TAFI
SMMU on its own →TAFI on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
SMMU filings on SEC EDGAR ↗SMMU prospectus with the expense ratio (SEC) ↗PIMCO website ↗TAFI filings on SEC EDGAR ↗TAFI 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, SMMU against TAFI, data as of Oct 9, 2026. https://etfiq.com/compare/any/smmu-vs-tafi

Open data

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