FTCAvsTAXFETF Comparison
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Franklin California Municipal Income ETF (FTCA) and American Century Diversified Municipal Bond ETF (TAXF) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. FTCA is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.25% for TAXF. FTCA is down -1.85% year-to-date (YTD) with -$8M in YTD flows. TAXF performs better with 0.1% YTD performance, and +$143M in YTD flows. Run a side-by-side ETF comparison of FTCA and TAXF 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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FTCA vs TAXF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTCA TAXF | -1.26%-0.79% | -3.01%-1.55% | -1.85%+0.10% | n/a+4.52% | n/a+11.22% | n/a+3.20% |
| Flows | FTCA TAXF | +$9M+$5M | -$31M+$38M | -$8M+$143M | -+$193M | -+$348M | -+$554M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTCA TAXF | +3.53%+2.75% | n/a+2.59% | n/a+3.77% | n/a+3.72% |
| Max drawdown | FTCA TAXF | -3.84%-2.50% | n/a-2.70% | n/a-5.30% | n/a-13.26% |
| Max drawdown duration | FTCA TAXF | 64d58d | n/a114d | n/a275d | n/a1001d |
Trading data
FTCA | TAXF | |
Last sale 9/3/2026 at 1:30 PM | $7.14 | $49.25 |
| Previous close 09/02/2026 | $7.14 | $49.31 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
FTCA | TAXF | |
|---|---|---|
| Last price | $7.14 | $49.25 |
| 1D performance | +0.00% | -0.12% |
| AuM | $562.43 M | $680.13 M |
| E/R | 0.35% | 0.25% |
Characteristics
FTCA | TAXF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | American Century Investments |
| Benchmark | - | - |
| N° of holdings | 62 | 253 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 24, 2025 | September 10, 2018 |
| ESG | No | No |
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Exposure
Countries
FTCA
USA
37.5%
Other
62.5%
TAXF
USA
37.04%
Other
62.96%
Sectors
FTCA
Municipal
37.5%
Other
62.5%
TAXF
Municipal
37.04%
Other
62.96%
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Diversification
FTCA
Total weight of top 15 holdings out of 15
19.62%
TAXF
Total weight of top 15 holdings out of 15
8.47%
Top 15 holdings
Data as of July 31, 2026
FTCA
California Pollution Control Financing Authority, 5% 21nov2045, USD
1.82%
US30309HAA59
1.70%
Chabot-Las Positas Community College District, 5.25% 1aug2048, USD (2016)
1.38%
California Municipal Finance Authority, 4.2% 1aug2040, USD (2024)
1.34%
San Francisco Public Utilities Commission, 5% 1nov2053, USD (2023)
1.33%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024E)
1.32%
US79728FLL30
1.31%
MSR Energy Authority, 6.5% 1nov2039, USD (2009A)
1.31%
Los Angeles Department of Water and Power, 5% 1jul2046, USD (2022)
1.30%
California Municipal Finance Authority, 3% 15may2051, USD
1.25%
Sweetwater Union High District, 5% 1aug2052, USD (2018)
1.24%
US130493CL10
1.10%
California, 5% 1oct2045, USD
1.09%
US13048VG510
1.07%
Alameda Corridor Transportation Authority, 0% 1oct2049, USD (2022A, 9941D)
1.06%
TAXF
US74442PN840
0.89%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.87%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.57%
US646080ZU81
0.57%
US452252RA98
0.55%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
US681725PH47
0.47%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.46%
US74439YBD22
0.44%
US292723AY90
0.42%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
New York Transitional Finance Authority, 5.5% 1nov2054, USD (2026)
0.39%
Frequently asked questions about FTCA and TAXF
How have the FTCA and TAXF ETFs performed in 2026?
As of September 2, 2026, FTCA is down -1.85% year-to-date (YTD), while TAXF has returned 0.1%. That puts TAXF better performer ahead so far this year.
Which ETF is attracting more investor money: FTCA or TAXF?
Year-to-date, the FTCA ETF saw -$8M in flows, compared to +$143M for TAXF.
Which ETF is bigger: FTCA or TAXF?
As of September 2, 2026, FTCA holds $562.43 M in assets under management (AUM), while TAXF manages $680.13 M.
What sectors do the FTCA and TAXF ETFs invest in?
FTCA leans toward sectors like Municipal. Meanwhile, TAXF focuses on Municipal.
What are the top holdings of the FTCA ETF and TAXF ETF?
FTCA top holdings include California Pollution Control Financing Authority, 5% 21nov2045, USD, US30309HAA59 and Chabot-Las Positas Community College District, 5.25% 1aug2048, USD (2016). TAXF holds in its top three: US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A).
Which ETF is more diversified: FTCA or TAXF?
FTCA holds 282 securities with 19.62% of its assets in the top 15. TAXF has 785 securities and a top 15 weight of 8.47%.
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