FTMSvsMBBETF Comparison
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Franklin Short-Term Municipal Income ETF (FTMS) belongs to the Municipal Bonds segment. iShares MBS ETF (MBB) is part of the MBS & ABS segment. FTMS's top 1 sector exposures are Municipal. In contrast, MBB's top sector exposures are Industrials, Non-Corporate and Finance. FTMS is more expensive with a Total Expense Ratio (TER) of 0.22%, versus 0.04% for MBB. FTMS is down -0.98% year-to-date (YTD) with +$73M in YTD flows. MBB performs worse with -1.78% YTD performance, and -$1.79B in YTD flows. Run a side-by-side ETF comparison of FTMS and MBB 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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FTMS vs MBB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTMS MBB | -0.29%-0.25% | -1.34%-2.30% | -0.98%-1.78% | n/a-1.43% | n/a+17.04% | n/a-0.38% |
| Flows | FTMS MBB | +$25M-$3.31B | +$45M-$2.66B | +$73M-$1.79B | --$5.06B | -+$8.97B | -+$13.89B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMS MBB | +2.06%+5.70% | n/a+4.61% | n/a+5.73% | n/a+6.66% |
| Max drawdown | FTMS MBB | -2.33%-4.27% | n/a-5.38% | n/a-5.38% | n/a-16.94% |
| Max drawdown duration | FTMS MBB | 92d52d | n/a229d | n/a229d | n/a1405d |
Trading data
FTMS | MBB | |
Last sale 10/16/2026 at 1:30 PM | $9.78 | $90.52 |
| Previous close 10/15/2026 | $9.79 | $90.59 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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FTMS
is actively managed and doesn’t replicate an indexFTMS | MBB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
FTMS | MBB | |
|---|---|---|
| Last price | $9.78 | $90.52 |
| 1D performance | -0.10% | -0.08% |
| AuM | $232.32 M | $35.27 B |
| E/R | 0.22% | 0.04% |
Characteristics
FTMS | MBB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Franklin Templeton | iShares |
| Benchmark | - | Bloomberg U.S. MBS Index |
| N° of holdings | 47 | 1237 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 24, 2025 | March 13, 2007 |
| ESG | No | No |
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Exposure
Countries
FTMS
USA
24.57%
Other
75.43%
MBB
USA
28.44%
Other
71.56%
Sectors
FTMS
Municipal
24.57%
Other
75.43%
MBB
Industrials
20.61%
Non-Corporate
7.6%
Other
71.79%
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Diversification
FTMS
Total weight of top 15 holdings out of 15
16.97%
MBB
Total weight of top 15 holdings out of 15
16.82%
Top 15 holdings
Data as of August 31, 2026
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%
MBB
BlackRock Cash Funds - Institutional
7.60%
US01F0526982
1.26%
US21H0526945
1.05%
FR SD8146, 2% 1may2051, USD (ABS)
0.98%
US01F0506927
0.87%
US21H0606978
0.63%
G2 MB0025, 5% 20nov2054, USD (ABS)
0.55%
US21H0506988
0.55%
G2 MA7648, 2% 20oct2051, USD (ABS)
0.51%
US36179WTX64
0.50%
FN MA4492, 2% 1dec2051, USD (ABS)
0.49%
US36179WJR07
0.48%
US21H0426955
0.48%
FR SD8140, 2% 1apr2051, USD (ABS)
0.47%
FN MA4465, 2% 1nov2051, USD (ABS)
0.42%
Frequently asked questions about FTMS and MBB
How have the FTMS and MBB ETFs performed in 2026?
As of October 16, 2026, FTMS is down -0.98% year-to-date (YTD), while MBB has lost -1.78%. That puts FTMS better performer ahead so far this year.
Which ETF is attracting more investor money: FTMS or MBB?
Year-to-date, the FTMS ETF saw +$73M in flows, compared to -$1.79B for MBB.
Which ETF is bigger: FTMS or MBB?
As of October 16, 2026, FTMS holds $232.32 M in assets under management (AUM), while MBB manages $35.27 B.
What sectors do the FTMS and MBB ETFs invest in?
FTMS leans toward sectors like Municipal. Meanwhile, MBB focuses on Industrials and Non-Corporate.
What are the top holdings of the FTMS ETF and MBB ETF?
FTMS top holdings include Southeast Energy Authority, 5.25% 1mar2055, USD (2025B), US091097AA35 and US69068WAD56. MBB holds in its top three: BlackRock Cash Funds - Institutional, US01F0526982 and US21H0526945.
Which ETF is more diversified: FTMS or MBB?
FTMS holds 253 securities with 16.97% of its assets in the top 15. MBB has 9405 securities and a top 15 weight of 16.82%.
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Latest news about FTMS & MBB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
MBB
NYSE x ETF Central ETF Education Series
March 5, 2024
MBB
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