IROCvsFLMIETF Comparison
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Invesco Rochester High Yield Municipal ETF (IROC) belongs to the US Aggregate Bonds segment. Franklin Dynamic Municipal Bond ETF (FLMI) is part of the Municipal Bonds segment. IROC's top 1 sector exposures are Municipal. In contrast, FLMI's top sector exposures are Municipal, Consumer Services and Healthcare. IROC is more expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.3% for FLMI. IROC is down -0.76% year-to-date (YTD) with +$56M in YTD flows. FLMI performs worse with -1.93% YTD performance, and +$1.10B in YTD flows. Run a side-by-side ETF comparison of IROC and FLMI 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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IROC vs FLMI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IROC FLMI | -1.59%-1.93% | -1.88%-3.09% | -0.76%-1.93% | +1.64%+0.02% | +11.99%+12.45% | n/a-0.10% |
| Flows | IROC FLMI | +$10M+$87M | +$38M+$326M | +$56M+$1.10B | +$131M+$1.53B | +$131M+$2.31B | -+$2.38B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IROC FLMI | +2.84%+3.44% | +2.47%+2.79% | +3.30%+3.73% | n/a+3.66% |
| Max drawdown | IROC FLMI | -2.92%-3.67% | -2.92%-4.42% | -4.12%-4.87% | n/a-16.76% |
| Max drawdown duration | IROC FLMI | 64d70d | 64d191d | 188d184d | n/a1453d |
Trading data
IROC | FLMI | |
Last sale 9/9/2026 at 1:30 PM | $49.51 | $24.08 |
| Previous close 09/08/2026 | $49.64 | $24.22 |
| Consolidated volume 09/08/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/9/2026 at 1:30 PM
Live
Closed
IROC | FLMI | |
|---|---|---|
| Last price | $49.51 | $24.08 |
| 1D performance | -0.26% | -0.58% |
| AuM | $159.02 M | $2.38 B |
| E/R | 0.4% | 0.3% |
Characteristics
IROC | FLMI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Invesco | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 64 | 214 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 12, 2022 | August 31, 2017 |
| ESG | No | No |
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Exposure
Countries
IROC
USA
40.34%
Other
59.66%
FLMI
USA
39.59%
Other
60.41%
Sectors
IROC
Municipal
40.34%
Other
59.66%
FLMI
Municipal
39.25%
Other
60.75%
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Diversification
IROC
Total weight of top 15 holdings out of 15
18.68%
FLMI
Total weight of top 15 holdings out of 15
20.12%
Top 15 holdings
Data as of July 31, 2026
IROC
US121342PQ61
1.53%
US647370EK77
1.53%
Washington Suburban Sanitary District, FRN 1jun2027, USD
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%
FLMI
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
2.06%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
1.71%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.69%
Southeast Energy Authority, 5% 1jan2056, USD (2025A)
1.60%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.54%
US09182TGL52
1.53%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.51%
Tennessee Energy Acquisition Corp., 5% 1dec2035, USD (2025A)
1.38%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.37%
US592250EW01
1.26%
US717901CC45
0.99%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.99%
US60637AFM99
0.91%
Southeast Energy Authority, 5% 1nov2035, USD (2025H)
0.82%
Main Street Natural Gas Inc., 5% 1dec2055, USD (2025B)
0.75%
Frequently asked questions about IROC and FLMI
How have the IROC and FLMI ETFs performed in 2026?
As of September 8, 2026, IROC is down -0.76% year-to-date (YTD), while FLMI has lost -1.93%. That puts IROC better performer ahead so far this year.
Which ETF is attracting more investor money: IROC or FLMI?
Year-to-date, the IROC ETF saw +$56M in flows, compared to +$1.10B for FLMI.
Which ETF is more volatile: IROC or FLMI?
Over the past year, IROC had a volatility of 2.47%, while FLMI experienced 2.79%.
Which ETF is bigger: IROC or FLMI?
As of September 8, 2026, IROC holds $159.02 M in assets under management (AUM), while FLMI manages $2.38 B.
What sectors do the IROC and FLMI ETFs invest in?
IROC leans toward sectors like Municipal. Meanwhile, FLMI focuses on Municipal.
What are the top holdings of the IROC ETF and FLMI ETF?
IROC top holdings include US121342PQ61, US647370EK77 and Washington Suburban Sanitary District, FRN 1jun2027, USD. FLMI holds in its top three: Black Belt Energy Gas District, 5% 1oct2035, USD (2025), Southeast Energy Authority, 5% 1nov2035, USD (2024A) and Kentucky Public Energy Authority, 5% 1may2036, USD (2025).
Which ETF is more diversified: IROC or FLMI?
IROC holds 155 securities with 18.68% of its assets in the top 15. FLMI has 1372 securities and a top 15 weight of 20.12%.
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Latest news about IROC & FLMI
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