MUNXvsTMNLETF Comparison
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AMG GW&K Muni Income ETF (MUNX) and T. Rowe Price Long Municipal Income ETF (TMNL) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. MUNX is more expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.26% for TMNL. MUNX is down -1.86% year-to-date (YTD) with +$10M in YTD flows. TMNL performs better with -0.71% YTD performance, and +$1M in YTD flows. Run a side-by-side ETF comparison of MUNX 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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MUNX vs TMNL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNX TMNL | -3.01%-2.49% | -3.69%-3.21% | -1.86%-0.71% | n/an/a | n/an/a | n/an/a |
| Flows | MUNX TMNL | -- | -- | +$10M+$1M | -- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNX TMNL | +3.61%+3.49% | n/an/a | n/an/a | n/an/a |
| Max drawdown | MUNX TMNL | -4.25%-3.88% | n/an/a | n/an/a | n/an/a |
| Max drawdown duration | MUNX TMNL | 71d71d | n/an/a | n/an/a | n/an/a |
Trading data
MUNX | TMNL | |
Last sale 9/17/2026 at 2:00 PM | $24.00 | $48.29 |
| Previous close 09/16/2026 | $23.93 | $48.35 |
| Consolidated volume 09/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/17/2026 at 2:00 PM
Live
Closed
MUNX | TMNL | |
|---|---|---|
| Last price | $24.00 | $48.29 |
| 1D performance | +0.27% | -0.12% |
| AuM | $19.12 M | $21.70 M |
| E/R | 0.29% | 0.26% |
Characteristics
MUNX | TMNL | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | AMG | T. Rowe Price |
| Benchmark | - | - |
| N° of holdings | 39 | 52 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 29, 2025 | November 19, 2025 |
| ESG | No | No |
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Exposure
Countries
MUNX
USA
50.25%
Other
49.75%
TMNL
USA
49.92%
Other
50.08%
Sectors
MUNX
Municipal
50.25%
Other
49.75%
TMNL
Municipal
49.92%
Other
50.08%
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Diversification
MUNX
Total weight of top 15 holdings out of 15
32.67%
TMNL
Total weight of top 15 holdings out of 15
34.52%
Top 15 holdings
Data as of July 31, 2026
MUNX
Commonwealth Financing Authority, 4% 1jun2039, USD (2018)
3.06%
County of Jefferson (AL), 5.5% 1oct2053, USD (2024)
2.64%
US70868YAL39
2.57%
US03843TBQ31
2.23%
Houston, 5% 1sep2038, USD (2026C)
2.19%
US717823Y444
2.16%
US65889BEL45
2.15%
New York Transportation Development Corp., 6% 30jun2055, USD (2025)
2.13%
US46613SGA24
2.09%
Massachusetts Development Finance Agency, 5.5% 1oct2044, USD (2026A)
2.03%
Texas Private Activity Bond Surface Transportation Corp., 5% 30jun2058, USD (2019)
1.98%
US74448EAA29
1.92%
New York Urban Development Corp., 4% 31oct2034, USD (2021)
1.89%
New York Transportation Development Corp., 5% 1oct2040, USD (2020)
1.81%
US84136HCT86
1.80%
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 MUNX and TMNL
How have the MUNX and TMNL ETFs performed in 2026?
As of September 15, 2026, MUNX is down -1.86% year-to-date (YTD), while TMNL has lost -0.71%. That puts TMNL better performer ahead so far this year.
Which ETF is attracting more investor money: MUNX or TMNL?
Year-to-date, the MUNX ETF saw +$10M in flows, compared to +$1M for TMNL.
Which ETF is bigger: MUNX or TMNL?
As of September 15, 2026, MUNX holds $19.12 M in assets under management (AUM), while TMNL manages $21.70 M.
What sectors do the MUNX and TMNL ETFs invest in?
MUNX leans toward sectors like Municipal. Meanwhile, TMNL focuses on Municipal.
What are the top holdings of the MUNX ETF and TMNL ETF?
MUNX top holdings include Commonwealth Financing Authority, 4% 1jun2039, USD (2018), County of Jefferson (AL), 5.5% 1oct2053, USD (2024) and US70868YAL39. 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: MUNX or TMNL?
MUNX holds 74 securities with 32.67% of its assets in the top 15. TMNL has 113 securities and a top 15 weight of 34.52%.
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