Which returned more over the last year, TAFM or TFI?

In the year to Oct 9, 2026, with distributions reinvested, TAFM returned −2.1% and TFI −2.7%.

Which is cheaper, TAFM or TFI?

TFI is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.

Share on X Download as PDF

Compare their flows Ask IQ about these two funds

TAFM vs TFI: Differences, Returns & Fees

TAFM's duration was 6.4 years on May 31, 2026 and TFI's 6.0 on Jun 30, 2026; TFI charges 0.23% to TAFM's 0.28%. Net assets on Oct 8, 2026: $1.0bn for AB Tax-Aware Intermediate Municipal ETF and $2.8bn for State Street SPDR Nuveen ICE Municipal Bond ETF.

TFI costs 0.05 points a year less; their one-year returns differ by 0.6 points; TFI is 2.8 times larger.

	TAFM	TFI
Expense ratio	0.28%	0.23%
Net assets, as of Oct 8, 2026	$1.0bn	$2.8bn
Total return, 1 year	−2.1%	−2.7%
What it tracks	No index, actively managed	ICE 1+ Year AMT-Free Broad Municipal Index ?
Holdings in common	3%
Below its high	5.6%, high on Jul 6, 2026	6.2%, high on Jul 19, 2021

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

−2.1%

TAFM total return, 1 year

−2.7%

TFI total return, 1 year

0.28%

TAFM expense ratio

0.23%

TFI expense ratio

What they hold in common

By the books each fund has filed, TAFM and TFI 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 Jun 30, 2026.

50%

half

3% in common

Positions both hold, largest shared weight first

Holding TAFM TFI

NEW YORK CITY NY TRANSITIONAL FIN AUTH REV, due May 1, 2046 0.17% 0.14%

NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE, due Jun 15, 2045 0.16% 0.14%

TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX, due Mar 1, 2028 0.17% 0.10%

MET PIER & EXPOSITION AUTH IL REVENUE, due Jun 15, 2050 0.16% 0.10%

HOUSTON TX HOTEL OCCUPANCY TAX & SPL REVENUE, due Sep 1, 2058 0.35% 0.07%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Dec 1, 2035 0.18% 0.07%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Jan 1, 2056 0.09% 0.07%

CENTRL PLAINS ENERGY PROJ NE GAS SPLY REVENUE, due Aug 1, 2055 0.18% 0.07%

MASSACHUSETTS ST, due Aug 1, 2049 0.17% 0.07%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, due Feb 1, 2055 0.13% 0.07%

KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE, due Jan 1, 2055 0.20% 0.07%

MASSACHUSETTS ST, due Apr 1, 2055 0.25% 0.07%

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%

KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE, due May 1, 2036 0.61%

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%

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

TAFM

AB Tax-Aware Intermediate Municipal ETF

TFI

State Street SPDR Nuveen ICE Municipal Bond ETF

Where it sits Bond ETF Bond ETF

Issuer AllianceBernstein State Street

What it is Actively managed Tracks an index

Total return, 1 year −2.1% −2.7%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −19.4 pts −19.9 pts

Expense ratio 0.28% 0.23%

Holdings 564 1990

Net assets, as of Oct 8, 2026 $1.0bn $2.8bn

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

TAFM in plain words

TAFM 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 0.28% a year. It sat 5.6% below its high of Jul 6, 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, TAFM or TFI?: In the year to Oct 9, 2026, with distributions reinvested, TAFM returned −2.1% and TFI −2.7%.
Which is cheaper, TAFM or TFI?: TFI is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

LMUB vs TAFM JMUB vs TAFM TAFM vs VTEB FLMI vs TAFM LMUB vs TFI FMB vs TFI JMUB vs TFI MUB vs TFI

TAFM on its own →TFI on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

TAFM filings on SEC EDGAR ↗TAFM prospectus with the expense ratio (SEC) ↗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, TAFM against TFI, data as of Oct 9, 2026. https://etfiq.com/compare/any/tafm-vs-tfi

Open data

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