IROCvsTAFIETF Comparison
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Invesco Rochester High Yield Municipal ETF (IROC) belongs to the US Aggregate Bonds segment. AB Tax-Aware Short Duration Municipal ETF (TAFI) is part of the Municipal Bonds segment. IROC's top 1 sector exposures are Municipal. In contrast, TAFI's top sector exposures are Municipal, Industrials and Consumer Non-Cyclicals. IROC is more expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.27% for TAFI. IROC is down -0.76% year-to-date (YTD) with +$56M in YTD flows. TAFI performs better with 1.15% YTD performance, and +$318M in YTD flows. Run a side-by-side ETF comparison of IROC and TAFI 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 TAFI 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 TAFI | -1.59%-0.18% | -1.88%-0.02% | -0.76%+1.15% | +1.64%+1.88% | +11.99%+11.03% | n/an/a |
| Flows | IROC TAFI | +$10M+$5M | +$38M+$117M | +$56M+$318M | +$131M+$502M | +$131M+$1.18B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IROC TAFI | +2.84%+0.94% | +2.47%+0.93% | +3.30%+1.39% | n/an/a |
| Max drawdown | IROC TAFI | -2.92%-0.60% | -2.92%-1.17% | -4.12%-1.71% | n/an/a |
| Max drawdown duration | IROC TAFI | 64d63d | 64d116d | 188d59d | n/an/a |
Trading data
IROC | TAFI | |
Last sale 9/9/2026 at 1:30 PM | $49.51 | $24.92 |
| Previous close 09/08/2026 | $49.64 | $24.97 |
| 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 | TAFI | |
|---|---|---|
| Last price | $49.51 | $24.92 |
| 1D performance | -0.26% | -0.21% |
| AuM | $159.02 M | $1.37 B |
| E/R | 0.4% | 0.27% |
Characteristics
IROC | TAFI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Invesco | AllianceBernstein |
| Benchmark | - | - |
| N° of holdings | 64 | 244 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 12, 2022 | September 13, 2022 |
| ESG | No | No |
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Exposure
Countries
IROC
USA
40.34%
Other
59.66%
TAFI
USA
39.87%
Other
60.13%
Sectors
IROC
Municipal
40.34%
Other
59.66%
TAFI
Municipal
39.34%
Other
60.66%
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Diversification
IROC
Total weight of top 15 holdings out of 15
18.68%
TAFI
Total weight of top 15 holdings out of 15
12.69%
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%
TAFI
Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD
1.52%
US040507QB45
1.40%
US7485082P22
1.16%
City of New York, 5% 1feb2032, USD (2026)
1.04%
Colorado Health Facilities Authority, 5% 1sep2032, USD (2025A)
0.82%
Illinois Finance Authority, FRN 15nov2037, USD (2018)
0.76%
Revere, 4% 29jul2027, USD
0.74%
Miami-Dade School District, 4% 7jan2027, USD (2026)
0.74%
US574193XM57
0.73%
US09182TKL07
0.73%
New York Transitional Finance Authority, 5% 1nov2030, USD (2026)
0.71%
US544657JD25
0.67%
Orchard Park Central School District, 4% 30apr2027, USD (2026)
0.57%
US67756CGX02
0.56%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.52%
Frequently asked questions about IROC and TAFI
How have the IROC and TAFI ETFs performed in 2026?
As of September 8, 2026, IROC is down -0.76% year-to-date (YTD), while TAFI has returned 1.15%. That puts TAFI better performer ahead so far this year.
Which ETF is attracting more investor money: IROC or TAFI?
Year-to-date, the IROC ETF saw +$56M in flows, compared to +$318M for TAFI.
Which ETF is more volatile: IROC or TAFI?
Over the past year, IROC had a volatility of 2.47%, while TAFI experienced 0.93%.
Which ETF is bigger: IROC or TAFI?
As of September 8, 2026, IROC holds $159.02 M in assets under management (AUM), while TAFI manages $1.37 B.
What sectors do the IROC and TAFI ETFs invest in?
IROC leans toward sectors like Municipal. Meanwhile, TAFI focuses on Municipal.
What are the top holdings of the IROC ETF and TAFI ETF?
IROC top holdings include US121342PQ61, US647370EK77 and Washington Suburban Sanitary District, FRN 1jun2027, USD. TAFI holds in its top three: Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD, US040507QB45 and US7485082P22.
Which ETF is more diversified: IROC or TAFI?
IROC holds 155 securities with 18.68% of its assets in the top 15. TAFI has 691 securities and a top 15 weight of 12.69%.
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