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 -1.71% year-to-date (YTD) with -$3M in YTD flows. IROC performs better with -0.84% YTD performance, and +$52M 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 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTMU IROC | -1.17%-1.11% | -2.94%-1.76% | -1.71%-0.84% | n/a+2.98% | n/a+11.61% | n/an/a |
| Flows | FTMU IROC | +$3K+$23M | -$13M+$34M | -$3M+$52M | -+$127M | -+$127M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMU IROC | +3.55%+2.84% | n/a+2.58% | n/a+3.30% | n/an/a |
| Max drawdown | FTMU IROC | -3.90%-2.92% | n/a-2.92% | n/a-4.12% | n/an/a |
| Max drawdown duration | FTMU IROC | 63d57d | n/a57d | n/a188d | n/an/a |
Trading data
FTMU | IROC | |
Last sale 9/2/2026 at 1:30 PM | $7.64 | $49.87 |
| Previous close 09/01/2026 | $7.64 | $49.80 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
FTMU | IROC | |
|---|---|---|
| Last price | $7.64 | $49.87 |
| 1D performance | -0.01% | +0.14% |
| AuM | $457.49 M | $154.93 M |
| E/R | 0.3% | 0.4% |
Characteristics
FTMU | IROC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | Invesco |
| Benchmark | - | - |
| N° of holdings | 80 | 64 |
| 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
39.78%
Other
60.22%
IROC
USA
40.34%
Other
59.66%
Sectors
FTMU
Municipal
39.78%
Other
60.22%
IROC
Municipal
40.34%
Other
59.66%
Diversification
FTMU
Total weight of top 15 holdings out of 15
19.34%
IROC
Total weight of top 15 holdings out of 15
18.68%
Top 15 holdings
Data as of July 31, 2026
FTMU
New York Urban Development Corp., 5% 15mar2044, USD (2023A)
2.33%
New York Thruway Authority, 5% 15mar2054, USD (2022C)
1.64%
US969878AB36
1.46%
Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D)
1.39%
Port of Houston Authority, 5% 1oct2048, USD (2023)
1.29%
Triborough Bridge and Tunnel Authority, 5.25% 15may2057, USD (2022A)
1.26%
US31350ACS50
1.22%
South Carolina Jobs-Economic Development Authority, 5.5% 1nov2054, USD (2024A)
1.15%
US25476FA408
1.14%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
1.13%
US97712D8M13
1.10%
US709224DV89
1.09%
US240471PF32
1.08%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.08%
US6446147E39
0.99%
IROC
US121342PQ61
1.53%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.53%
US647370EK77
1.53%
US20775DTU62
1.53%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
1.19%
US20775DU831
1.16%
US83704HAM97
1.16%
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.16%
Lake Retirement Facility, 5.75% 15aug2055, USD (2020A)
1.15%
US63608TBQ22
1.15%
Bucks Industrial Development Authority, 5% 1jul2054, USD (2021)
1.13%
Massachusetts Development Finance Agency, 5.375% 1jul2061, USD (2026A)
1.12%
US13059TFH77
1.11%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.11%
US928097AA20
1.11%
Frequently asked questions about FTMU and IROC
How have the FTMU and IROC ETFs performed in 2026?
As of September 1, 2026, FTMU is down -1.71% year-to-date (YTD), while IROC has lost -0.84%. 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 -$3M in flows, compared to +$52M for IROC.
Which ETF is bigger: FTMU or IROC?
As of September 1, 2026, FTMU holds $457.49 M in assets under management (AUM), while IROC manages $154.93 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), New York Thruway Authority, 5% 15mar2054, USD (2022C) and US969878AB36. IROC holds in its top three: US121342PQ61, Washington Suburban Sanitary District, FRN 1jun2027, USD and US647370EK77.
Which ETF is more diversified: FTMU or IROC?
FTMU holds 259 securities with 19.34% of its assets in the top 15. IROC has 155 securities and a top 15 weight of 18.68%.
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