FTMUvsIROCETF Comparison
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Franklin Municipal Income ETF (FTMU) belongs to the Municipal Bonds segment. Invesco Rochester High Yield Municipal ETF (IROC) is part of the US Aggregate Bonds segment. Both ETFs have the same top 1 sector exposures: Municipal. FTMU is less expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.4% for IROC. FTMU is down -4.46% year-to-date (YTD) with +$24M in YTD flows. IROC performs better with -3.2% YTD performance, and +$93M in YTD flows. Run a side-by-side ETF comparison of FTMU and IROC 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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FTMU vs IROC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTMU IROC | -1.11%-0.98% | -5.53%-4.70% | -4.46%-3.20% | n/a-2.41% | n/a+11.52% | n/an/a |
| Flows | FTMU IROC | +$26M+$34M | +$692K+$67M | +$24M+$93M | -+$142M | -+$169M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMU IROC | +6.31%+5.64% | n/a+3.51% | n/a+3.52% | n/an/a |
| Max drawdown | FTMU IROC | -7.74%-6.59% | n/a-7.11% | n/a-7.11% | n/an/a |
| Max drawdown duration | FTMU IROC | 92d92d | n/a102d | n/a102d | n/an/a |
Trading data
FTMU | IROC | |
Last sale 10/16/2026 at 1:30 PM | $7.43 | $48.45 |
| Previous close 10/15/2026 | $7.42 | $48.46 |
| 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
FTMU | IROC | |
|---|---|---|
| Last price | $7.43 | $48.45 |
| 1D performance | +0.13% | -0.02% |
| AuM | $472.87 M | $192.11 M |
| E/R | 0.3% | 0.4% |
Characteristics
FTMU | IROC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | Invesco |
| Benchmark | - | - |
| N° of holdings | 80 | 71 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 24, 2025 | September 12, 2022 |
| ESG | No | No |
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Exposure
Countries
FTMU
USA
39.82%
Other
60.18%
IROC
USA
40.88%
Other
59.12%
Sectors
FTMU
Municipal
39.82%
Other
60.18%
IROC
Municipal
40.88%
Other
59.12%
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Diversification
FTMU
Total weight of top 15 holdings out of 15
19.19%
IROC
Total weight of top 15 holdings out of 15
18.23%
Top 15 holdings
Data as of August 31, 2026
FTMU
New York Urban Development Corp., 5% 15mar2044, USD (2023A)
2.35%
US969878AB36
1.49%
Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D)
1.41%
Port of Houston Authority, 5% 1oct2048, USD (2023)
1.32%
Triborough Bridge and Tunnel Authority, 5.25% 15may2057, USD (2022A)
1.29%
US31350ACS50
1.25%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
1.17%
South Carolina Jobs-Economic Development Authority, 5.5% 1nov2054, USD (2024A)
1.16%
US25476FA408
1.15%
New York Thruway Authority, 5% 15mar2054, USD (2022C)
1.15%
US97712D8M13
1.12%
US709224DV89
1.12%
US240471PF32
1.11%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.10%
US6446147E39
1.01%
IROC
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.28%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.28%
US13013JGF75
1.25%
US37353PWV74
1.25%
US812643H643
1.24%
US121342PQ61
1.24%
City of New York, FRN 1dec2047, USD
1.24%
US677561LA84
1.24%
Mississippi Business Finance Corp., FRN 1nov2035, USD (2010I)
1.24%
Gulf Coast Industrial Development Authority, FRN 1nov2041, USD (2012)
1.24%
US686507NQ33
1.24%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.24%
US63608TBR05
1.09%
Texas, 5% 1aug2041, USD
1.07%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.05%
Frequently asked questions about FTMU and IROC
How have the FTMU and IROC ETFs performed in 2026?
As of October 16, 2026, FTMU is down -4.46% year-to-date (YTD), while IROC has lost -3.2%. That puts IROC better performer ahead so far this year.
Which ETF is attracting more investor money: FTMU or IROC?
Year-to-date, the FTMU ETF saw +$24M in flows, compared to +$93M for IROC.
Which ETF is bigger: FTMU or IROC?
As of October 16, 2026, FTMU holds $472.87 M in assets under management (AUM), while IROC manages $192.11 M.
What sectors do the FTMU and IROC ETFs invest in?
FTMU leans toward sectors like Municipal. Meanwhile, IROC focuses on Municipal.
What are the top holdings of the FTMU ETF and IROC ETF?
FTMU top holdings include New York Urban Development Corp., 5% 15mar2044, USD (2023A), US969878AB36 and Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D). IROC holds in its top three: Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A), Kentucky Public Energy Authority, 5% 1dec2033, USD (2025) and US13013JGF75.
Which ETF is more diversified: FTMU or IROC?
FTMU holds 260 securities with 19.19% of its assets in the top 15. IROC has 174 securities and a top 15 weight of 18.23%.
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