MUNYvsTAFLETF Comparison
VS
Vanguard New York Tax-Exempt Bond ETF (MUNY) and AB Tax-Aware Long Municipal ETF (TAFL) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. MUNY is less expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.28% for TAFL. MUNY is down -1.91% year-to-date (YTD) with +$546M in YTD flows. TAFL performs worse with -2.12% YTD performance, and +$16M in YTD flows. Run a side-by-side ETF comparison of MUNY and TAFL 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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MUNY vs TAFL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNY TAFL | -0.04%-0.81% | -3.31%-4.44% | -1.91%-2.12% | -1.39%-1.90% | n/an/a | n/an/a |
| Flows | MUNY TAFL | +$212M-$5M | +$277M+$3M | +$546M+$16M | +$616M+$31M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNY TAFL | +5.24%+6.63% | +3.32%+4.12% | n/an/a | n/an/a |
| Max drawdown | MUNY TAFL | -5.85%-7.06% | -6.60%-7.70% | n/an/a | n/an/a |
| Max drawdown duration | MUNY TAFL | 92d92d | 102d102d | n/an/a | n/an/a |
Trading data
MUNY | TAFL | |
Last sale 10/19/2026 at 1:30 PM | $98.64 | $23.63 |
| Previous close 10/16/2026 | $98.68 | $23.67 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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TAFL
is actively managed and doesn’t replicate an indexMUNY | TAFL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
MUNY | TAFL | |
|---|---|---|
| Last price | $98.64 | $23.63 |
| 1D performance | -0.04% | -0.17% |
| AuM | $722.39 M | $60.41 M |
| E/R | 0.09% | 0.28% |
Characteristics
MUNY | TAFL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Vanguard | AllianceBernstein |
| Benchmark | S&P NewYork AMT-Free Municipal USD10 Million Par Bond Index | - |
| N° of holdings | 1835 | 66 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 20, 2025 | December 13, 2023 |
| ESG | No | No |
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Exposure
Countries
MUNY
USA
59.67%
Other
40.33%
TAFL
USA
58.25%
Other
41.75%
Sectors
MUNY
Municipal
59.67%
Other
40.33%
TAFL
Municipal
58.25%
Other
41.75%
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Diversification
MUNY
Total weight of top 15 holdings out of 15
3.51%
TAFL
Total weight of top 15 holdings out of 15
27%
Top 15 holdings
Data as of August 31, 2026
MUNY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.31%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.29%
City of New York, FRN 1aug2044, USD
0.27%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.27%
MTA Hudson Rail Yards Trust, 5% 15nov2056, USD (2016A)
0.25%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.23%
MTA Hudson Rail Yards Trust, 5% 15nov2051, USD (2016A)
0.22%
Triborough Bridge and Tunnel Authority, 5% 15nov2051, USD (2021A)
0.22%
US896035CD29
0.22%
New York Transitional Finance Authority, 5% 1nov2034, USD (2026)
0.21%
US896032BB41
0.21%
Triborough Bridge and Tunnel Authority, 5% 15nov2047, USD (2017A)
0.21%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.20%
US89602HEY99
0.20%
New York Power Authority, 4% 15nov2050, USD
0.19%
TAFL
US896035DE92
2.72%
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.34%
Chicago, 5.25% 1nov2061, USD (2026A)
2.26%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
1.93%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
1.80%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
1.77%
US494791UA28
1.60%
US13048V7N23
1.60%
US544525X784
1.59%
US59333P7M43
1.58%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.58%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.56%
US544446BT39
1.56%
Chicago O'Hare International Airport, 5.25% 1jan2040, USD (2025A)
1.56%
US79574CFC29
1.56%
Frequently asked questions about MUNY and TAFL
How have the MUNY and TAFL ETFs performed in 2026?
As of October 16, 2026, MUNY is down -1.91% year-to-date (YTD), while TAFL has lost -2.12%. That puts MUNY better performer ahead so far this year.
Which ETF is attracting more investor money: MUNY or TAFL?
Year-to-date, the MUNY ETF saw +$546M in flows, compared to +$16M for TAFL.
Which ETF is more volatile: MUNY or TAFL?
Over the past year, MUNY had a volatility of 3.32%, while TAFL experienced 4.12%.
Which ETF is bigger: MUNY or TAFL?
As of October 16, 2026, MUNY holds $722.39 M in assets under management (AUM), while TAFL manages $60.41 M.
What sectors do the MUNY and TAFL ETFs invest in?
MUNY leans toward sectors like Municipal. Meanwhile, TAFL focuses on Municipal.
What are the top holdings of the MUNY ETF and TAFL ETF?
MUNY top holdings include New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Hudson Yards Infrastructure Corp., 5% 15feb2042, USD and City of New York, FRN 1aug2044, USD. TAFL holds in its top three: US896035DE92, Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025) and Chicago, 5.25% 1nov2061, USD (2026A).
Which ETF is more diversified: MUNY or TAFL?
MUNY holds 3643 securities with 3.51% of its assets in the top 15. TAFL has 127 securities and a top 15 weight of 27%.
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