IBMRvsTMNLETF Comparison
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iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) and T. Rowe Price Long Municipal Income ETF (TMNL) belong to the same industry segment: Municipal Bonds. IBMR's top 2 sector exposures are Municipal and Non-Corporate. In contrast, TMNL's top sector exposures are Municipal. IBMR is less expensive with a Total Expense Ratio (TER) of 0.1%, versus 0.26% for TMNL. IBMR is up 0.74% year-to-date (YTD) with +$108M in YTD flows. TMNL performs worse with 0.7% YTD performance, and +$1M in YTD flows. Run a side-by-side ETF comparison of IBMR and TMNL 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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IBMR vs TMNL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IBMR TMNL | +0.15%-0.70% | +0.01%-1.50% | +0.74%+0.70% | +1.60%n/a | +11.00%n/a | n/an/a |
| Flows | IBMR TMNL | +$14M- | +$33M- | +$108M+$1M | +$197M- | +$477M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IBMR TMNL | +1.05%+2.95% | +1.17%n/a | +2.46%n/a | n/an/a |
| Max drawdown | IBMR TMNL | -0.69%-2.51% | -1.37%n/a | -2.98%n/a | n/an/a |
| Max drawdown duration | IBMR TMNL | 49d57d | 188dn/a | 212dn/a | n/an/a |
Trading data
IBMR | TMNL | |
Last sale 9/2/2026 at 1:30 PM | $25.19 | $48.96 |
| Previous close 09/02/2026 | $25.18 | $48.95 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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TMNL
is actively managed and doesn’t replicate an indexIBMR | TMNL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
IBMR | TMNL | |
|---|---|---|
| Last price | $25.19 | $48.96 |
| 1D performance | +0.02% | +0.00% |
| AuM | $480.35 M | $22.01 M |
| E/R | 0.1% | 0.26% |
Characteristics
IBMR | TMNL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | T. Rowe Price |
| Benchmark | S&P AMT-Free Municipal Series Callable-Adjusted Dec 2029 Index | - |
| N° of holdings | 820 | 52 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 9, 2023 | November 19, 2025 |
| ESG | No | No |
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Exposure
Countries
IBMR
USA
51.62%
Other
48.38%
TMNL
USA
49.92%
Other
50.08%
Sectors
IBMR
Municipal
51.36%
Other
48.64%
TMNL
Municipal
49.92%
Other
50.08%
Diversification
IBMR
Total weight of top 15 holdings out of 15
6.13%
TMNL
Total weight of top 15 holdings out of 15
34.52%
Top 15 holdings
Data as of July 31, 2026
IBMR
US13034A5B23
0.77%
US575829PH38
0.58%
New Jersey, 5% 1jun2029, USD
0.53%
Los Angeles Unified School District, 5% 1jul2029, USD (2026)
0.46%
New York Dormitory Authority, 2.5% 1jul1993, USD
0.40%
Houston, 5% 1jul2029, USD (2018B)
0.40%
Los Angeles Metropolitan Transportation Authority, 5% 1jul2029, USD (2017-A)
0.39%
Palm Beach School Board, 5% 1aug2029, USD (2018C)
0.36%
California, 5% 1oct2029, USD
0.35%
Pennsylvania, 5% 1apr2029, USD (2026)
0.34%
California, 5% 1sep2029, USD
0.34%
US18085PTF17
0.33%
US64972JVQ83
0.30%
Contra Costa Transportation Authority, 5% 1mar2029, USD (2018B)
0.30%
Escondido Union High School District, 0% 1aug2029, USD (2017D)
0.29%
TMNL
New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026)
4.70%
US42605KAB26
3.36%
US41423PDY07
3.07%
US914713W996
2.68%
New York Transitional Finance Authority, 5% 1may2051, USD (2026)
2.29%
Chesapeake Bay Bridge And Tunnel District, 5% 1jul2041, USD (2016)
2.25%
Maryland Economic Development Corp., 5.25% 30jun2052, USD (2022B)
2.03%
New York Transportation Development Corp., 6% 30jun2059, USD (2025)
1.88%
US249182LT15
1.84%
Salt Lake City Airport, 5.25% 1jul2053, USD (2023A)
1.82%
US574218T373
1.80%
North Carolina Turnpike Authority, 4% 1jan2039, USD
1.78%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.75%
Virginia Small Business Financing Authority, 5% 31dec2056, USD (2017)
1.65%
US57419TTP65
1.60%
Frequently asked questions about IBMR and TMNL
How have the IBMR and TMNL ETFs performed in 2026?
As of September 2, 2026, IBMR is up 0.74% year-to-date (YTD), while TMNL has returned 0.7%. That puts IBMR better performer ahead so far this year.
Which ETF is attracting more investor money: IBMR or TMNL?
Year-to-date, the IBMR ETF saw +$108M in flows, compared to +$1M for TMNL.
Which ETF is bigger: IBMR or TMNL?
As of September 2, 2026, IBMR holds $480.35 M in assets under management (AUM), while TMNL manages $22.01 M.
What sectors do the IBMR and TMNL ETFs invest in?
IBMR leans toward sectors like Municipal. Meanwhile, TMNL focuses on Municipal.
What are the top holdings of the IBMR ETF and TMNL ETF?
IBMR top holdings include US13034A5B23, US575829PH38 and New Jersey, 5% 1jun2029, USD. TMNL holds in its top three: New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026), US42605KAB26 and US41423PDY07.
Which ETF is more diversified: IBMR or TMNL?
IBMR holds 1800 securities with 6.13% of its assets in the top 15. TMNL has 113 securities and a top 15 weight of 34.52%.
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