FTMAvsTMNSETF Comparison
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Franklin Massachusetts Municipal Income ETF (FTMA) and T. Rowe Price Short Municipal Income ETF (TMNS) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. FTMA is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.18% for TMNS. FTMA is down -3.7% year-to-date (YTD) with +$48M in YTD flows. TMNS performs better with 0.4% YTD performance, and +$1M in YTD flows. Run a side-by-side ETF comparison of FTMA and TMNS 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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FTMA vs TMNS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTMA TMNS | -0.73%-0.14% | -4.57%-1.05% | -3.70%+0.40% | n/an/a | n/an/a | n/an/a |
| Flows | FTMA TMNS | -$13M-$1M | -$6M+$1M | +$48M+$1M | -- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMA TMNS | +5.55%+2.73% | n/an/a | n/an/a | n/an/a |
| Max drawdown | FTMA TMNS | -6.59%-2.76% | n/an/a | n/an/a | n/an/a |
| Max drawdown duration | FTMA TMNS | 92d51d | n/an/a | n/an/a | n/an/a |
Trading data
FTMA | TMNS | |
Last sale 10/16/2026 at 1:30 PM | $8.63 | $49.10 |
| Previous close 10/15/2026 | $8.61 | $49.08 |
| 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
FTMA | TMNS | |
|---|---|---|
| Last price | $8.63 | $49.10 |
| 1D performance | +0.23% | +0.02% |
| AuM | $276.09 M | $22.08 M |
| E/R | 0.35% | 0.18% |
Characteristics
FTMA | TMNS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | T. Rowe Price |
| Benchmark | - | - |
| N° of holdings | 45 | 58 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 10, 2025 | November 19, 2025 |
| ESG | No | No |
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Exposure
Countries
FTMA
USA
31.27%
Other
68.73%
TMNS
USA
29.18%
Other
70.82%
Sectors
FTMA
Municipal
31.27%
Other
68.73%
TMNS
Municipal
29.18%
Other
70.82%
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Diversification
FTMA
Total weight of top 15 holdings out of 15
23.94%
TMNS
Total weight of top 15 holdings out of 15
25.29%
Top 15 holdings
Data as of August 31, 2026
FTMA
US57604TMC70
2.16%
Massachusetts Development Finance Agency, 5.75% 1jan2042, USD
2.08%
US57582TDX72
1.90%
US5755793L99
1.88%
Massachusetts, 5% 1jan2054, USD (2024)
1.88%
US575579B979
1.66%
Massachusetts Development Finance Agency, 4% 1oct2045, USD
1.58%
Massachusetts Development Finance Agency, 5.5% 15aug2050, USD (2025A)
1.53%
Massachusetts, 5% 1jun2050, USD (2022)
1.47%
US57586N6R72
1.45%
US661802WH79
1.39%
US111746KV47
1.26%
Massachusetts Bay Transportation Authority, 5% 1jul2052, USD
1.26%
US57585BEY02
1.24%
US57584Y5N53
1.19%
TMNS
US23503CFK80
2.22%
US735240L842
2.13%
New York Housing Finance Agency, FRN 1may2049, USD
2.11%
US09182TCG04
1.87%
California Community Choice Financing Authority, 5.5% 1oct2054, USD (2023F)
1.82%
US650116DJ25
1.78%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.67%
US735389D620
1.67%
US546068AZ00
1.55%
Illinois Toll Highway Authority, 5% 1jan2031, USD
1.55%
US425507GL89
1.44%
US64988YQ831
1.40%
US04052FDU66
1.38%
Puerto Rico, 5.75% 1jul2031, USD
1.37%
US187145WS29
1.35%
Frequently asked questions about FTMA and TMNS
How have the FTMA and TMNS ETFs performed in 2026?
As of October 16, 2026, FTMA is down -3.7% year-to-date (YTD), while TMNS has returned 0.4%. That puts TMNS better performer ahead so far this year.
Which ETF is attracting more investor money: FTMA or TMNS?
Year-to-date, the FTMA ETF saw +$48M in flows, compared to +$1M for TMNS.
Which ETF is bigger: FTMA or TMNS?
As of October 16, 2026, FTMA holds $276.09 M in assets under management (AUM), while TMNS manages $22.08 M.
What sectors do the FTMA and TMNS ETFs invest in?
FTMA leans toward sectors like Municipal. Meanwhile, TMNS focuses on Municipal.
What are the top holdings of the FTMA ETF and TMNS ETF?
FTMA top holdings include US57604TMC70, Massachusetts Development Finance Agency, 5.75% 1jan2042, USD and US57582TDX72. TMNS holds in its top three: US23503CFK80, US735240L842 and New York Housing Finance Agency, FRN 1may2049, USD.
Which ETF is more diversified: FTMA or TMNS?
FTMA holds 182 securities with 23.94% of its assets in the top 15. TMNS has 208 securities and a top 15 weight of 25.29%.
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