AAAvsFTMSETF Comparison
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AXS First Priority CLO Bond ETF (AAA) belongs to the US Corporate IG Bonds segment. Franklin Short-Term Municipal Income ETF (FTMS) is part of the Municipal Bonds segment. AAA's top 2 sector exposures are Industrials and Finance. In contrast, FTMS's top sector exposures are Municipal. AAA is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.22% for FTMS. AAA is up 3.67% year-to-date (YTD) with +$30M in YTD flows. FTMS performs worse with -0.98% YTD performance, and +$73M in YTD flows. Run a side-by-side ETF comparison of AAA and FTMS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AAA vs FTMS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AAA FTMS | +0.28%-0.29% | +1.15%-1.34% | +3.67%-0.98% | +4.84%n/a | +18.61%n/a | +26.62%n/a |
| Flows | AAA FTMS | +$5M+$25M | +$27M+$45M | +$30M+$73M | +$30M- | +$65M- | +$63M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AAA FTMS | +0.34%+2.06% | +0.46%n/a | +1.12%n/a | +1.42%n/a |
| Max drawdown | AAA FTMS | -0.04%-2.33% | -0.06%n/a | -0.86%n/a | -2.37%n/a |
| Max drawdown duration | AAA FTMS | 4d92d | 3dn/a | 26dn/a | 375dn/a |
Trading data
AAA | FTMS | |
Last sale 10/16/2026 at 1:30 PM | $24.78 | $9.78 |
| Previous close 10/15/2026 | $24.83 | $9.79 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
AAA | FTMS | |
|---|---|---|
| Last price | $24.78 | $9.78 |
| 1D performance | -0.21% | -0.10% |
| AuM | $72.50 M | $232.32 M |
| E/R | 0.25% | 0.22% |
Characteristics
AAA | FTMS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | AXS Investments | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 8 | 47 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 9, 2020 | October 24, 2025 |
| ESG | No | No |
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Exposure
Countries
AAA
USA
22.83%
Other
77.17%
FTMS
USA
24.57%
Other
75.43%
Sectors
AAA
Industrials
18.19%
Other
81.81%
FTMS
Municipal
24.57%
Other
75.43%
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Diversification
AAA
Total weight of top 15 holdings out of 15
60.18%
FTMS
Total weight of top 15 holdings out of 15
16.97%
Top 15 holdings
Data as of August 31, 2026
AAA
Fortress Credit BSL 2025-2A, FRN 15oct2038, USD (ABS, A)
4.64%
LCM 38A, FRN 4nov2038, USD (ABS, AR2)
4.64%
US482937AJ80
4.63%
US55819MBC91
4.63%
Carlyle US CLO 2019-4A, FRN 22jun2039, USD (ABS, A12)
4.63%
US03768UAG40
4.63%
US73052VAN55
4.63%
US83013NAC48
4.62%
US64130TBJ34
4.62%
US03766HAQ39
3.09%
Fortress Credit BSL 2024-4A, FRN 15jan2038, USD (ABS, A)
3.09%
US03166GAA67
3.09%
US15032EAY59
3.09%
US149791BG90
3.09%
US92919AAN46
3.08%
FTMS
Southeast Energy Authority, 5.25% 1mar2055, USD (2025B)
1.45%
US091097AA35
1.31%
US69068WAD56
1.20%
US81640AAB98
1.18%
Main Street Natural Gas Inc., 4% 1jul2052, USD (2021A)
1.16%
California State University, 0.55% 1nov2049, USD (2016B-2)
1.13%
US686865AR74
1.11%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
1.09%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.06%
City of Los Angeles, 5% 24jun2027, USD (2026)
1.06%
California Community Choice Financing Authority, 5% 1nov2055, USD (2024G)
1.05%
US717883J787
1.05%
Newark, 4.25% 5may2027, USD (2026)
1.05%
US352410CV42
1.04%
US773661AB90
1.04%
Frequently asked questions about AAA and FTMS
How have the AAA and FTMS ETFs performed in 2026?
As of October 15, 2026, AAA is up 3.67% year-to-date (YTD), while FTMS has lost -0.98%. That puts AAA better performer ahead so far this year.
Which ETF is attracting more investor money: AAA or FTMS?
Year-to-date, the AAA ETF saw +$30M in flows, compared to +$73M for FTMS.
Which ETF is bigger: AAA or FTMS?
As of October 15, 2026, AAA holds $72.50 M in assets under management (AUM), while FTMS manages $232.32 M.
What sectors do the AAA and FTMS ETFs invest in?
AAA leans toward sectors like Industrials. Meanwhile, FTMS focuses on Municipal.
What are the top holdings of the AAA ETF and FTMS ETF?
AAA top holdings include Fortress Credit BSL 2025-2A, FRN 15oct2038, USD (ABS, A), LCM 38A, FRN 4nov2038, USD (ABS, AR2) and US482937AJ80. FTMS holds in its top three: Southeast Energy Authority, 5.25% 1mar2055, USD (2025B), US091097AA35 and US69068WAD56.
Which ETF is more diversified: AAA or FTMS?
AAA holds 35 securities with 60.18% of its assets in the top 15. FTMS has 253 securities and a top 15 weight of 16.97%.
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Latest news about AAA & FTMS
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