FTMUvsTAXIETF Comparison
VS
Franklin Municipal Income ETF (FTMU) and Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. FTMU is more expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.05% for TAXI. FTMU is down -4.46% year-to-date (YTD) with +$24M in YTD flows. TAXI performs better with -0.71% YTD performance, and +$204M in YTD flows. Run a side-by-side ETF comparison of FTMU and TAXI 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 TAXI 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 TAXI | -1.11%+0.41% | -5.53%-1.50% | -4.46%-0.71% | n/a+0.51% | n/an/a | n/an/a |
| Flows | FTMU TAXI | +$26M+$81M | +$692K+$126M | +$24M+$204M | -+$247M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTMU TAXI | +6.31%+3.61% | n/a+2.30% | n/an/a | n/an/a |
| Max drawdown | FTMU TAXI | -7.74%-3.78% | n/a-4.65% | n/an/a | n/an/a |
| Max drawdown duration | FTMU TAXI | 92d92d | n/a229d | n/an/a | n/an/a |
Trading data
FTMU | TAXI | |
Last sale 10/16/2026 at 1:30 PM | $7.43 | $49.85 |
| Previous close 10/15/2026 | $7.42 | $49.74 |
| 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 October 19, 2026
1-year trailing difference
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FTMU
is actively managed and doesn’t replicate an indexFTMU | TAXI | |
|---|---|---|
| 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
FTMU | TAXI | |
|---|---|---|
| Last price | $7.43 | $49.85 |
| 1D performance | +0.13% | +0.23% |
| AuM | $472.87 M | $252.16 M |
| E/R | 0.3% | 0.05% |
Characteristics
FTMU | TAXI | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Franklin Templeton | Northern Trust |
| Benchmark | - | ICE Intermediate Term Focused Municipal Bond Index |
| N° of holdings | 80 | 908 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 24, 2025 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
FTMU
USA
39.82%
Other
60.18%
TAXI
USA
39.43%
Other
60.57%
Sectors
FTMU
Municipal
39.82%
Other
60.18%
TAXI
Municipal
39.43%
Other
60.57%
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Diversification
FTMU
Total weight of top 15 holdings out of 15
19.19%
TAXI
Total weight of top 15 holdings out of 15
2.48%
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%
TAXI
Huron Valley School District, 5% 1may2040, USD (2026)
0.20%
US56879EHE23
0.17%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.17%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.17%
State of Washington, 5% 1jun2040, USD (2026F)
0.17%
US49151HBK14
0.16%
US64972JB721
0.16%
US46263RTS49
0.16%
US13013JGF75
0.16%
US09182TJE82
0.16%
US79467BKE47
0.16%
Black Belt Energy Gas District, 5% 1may2055, USD (2024)
0.16%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.16%
US09182TCG04
0.16%
US915183Z598
0.16%
Frequently asked questions about FTMU and TAXI
How have the FTMU and TAXI ETFs performed in 2026?
As of October 16, 2026, FTMU is down -4.46% year-to-date (YTD), while TAXI has lost -0.71%. That puts TAXI better performer ahead so far this year.
Which ETF is attracting more investor money: FTMU or TAXI?
Year-to-date, the FTMU ETF saw +$24M in flows, compared to +$204M for TAXI.
Which ETF is bigger: FTMU or TAXI?
As of October 16, 2026, FTMU holds $472.87 M in assets under management (AUM), while TAXI manages $252.16 M.
What sectors do the FTMU and TAXI ETFs invest in?
FTMU leans toward sectors like Municipal. Meanwhile, TAXI focuses on Municipal.
What are the top holdings of the FTMU ETF and TAXI 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). TAXI holds in its top three: Huron Valley School District, 5% 1may2040, USD (2026), US56879EHE23 and Energy Southeast, 5.5% 1nov2053, USD (2023A-1).
Which ETF is more diversified: FTMU or TAXI?
FTMU holds 260 securities with 19.19% of its assets in the top 15. TAXI has 2484 securities and a top 15 weight of 2.48%.
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Latest news about FTMU & TAXI
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
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