MUSTvsTFIETF Comparison
VS
Columbia Multi-Sector Municipal Income ETF (MUST) and State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) belong to the same industry segment: Municipal Bonds. MUST's top 2 sector exposures are Municipal and Non-Corporate. In contrast, TFI's top sector exposures are Municipal. Both MUST and TFI have the same Total Expense Ratio (TER) of 0.23%. MUST is down -4.06% year-to-date (YTD) with +$17M in YTD flows. TFI performs better with -3.29% YTD performance, and +$89M in YTD flows. Run a side-by-side ETF comparison of MUST and TFI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
MUST vs TFI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUST TFI | -1.81%-1.45% | -5.43%-4.65% | -4.06%-3.29% | -3.06%-2.45% | +8.85%+8.33% | -1.47%-4.18% |
| Flows | MUST TFI | -$55M-$6M | -$53M-$1M | +$17M+$89M | +$56M-$242M | +$178M-$196M | +$419M-$249M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUST TFI | +5.28%+5.18% | +3.35%+3.29% | +4.27%+4.09% | +4.00%+4.13% |
| Max drawdown | MUST TFI | -7.26%-6.45% | -8.13%-7.00% | -8.13%-7.00% | -13.14%-14.88% |
| Max drawdown duration | MUST TFI | 92d92d | 227d227d | 227d227d | 1351d1513d |
Trading data
MUST | TFI | |
Last sale 10/15/2026 at 5:12 PM | $19.44 | $43.34 |
| Previous close 10/14/2026 | $19.32 | $42.99 |
| Consolidated volume 10/14/2026 | ||
| 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
Create an account to view replication metrics
Join for free
MUST | TFI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/15/2026 at 5:12 PM
Live
Closed
MUST | TFI | |
|---|---|---|
| Last price | $19.44 | $43.34 |
| 1D performance | +0.62% | +0.80% |
| AuM | $508.52 M | $2.92 B |
| E/R | 0.23% | 0.23% |
Characteristics
MUST | TFI | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Columbia Threadneedle Investments | State Street Investment Management |
| Benchmark | Beta Advantage Multi-Sector Municipal Bond Index | ICE 1+ Year AMT-Free Broad Municipal Index |
| N° of holdings | 293 | 813 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 10, 2018 | September 11, 2007 |
| ESG | No | No |
Advertisement
Exposure
Countries
MUST
USA
43.37%
Other
56.63%
TFI
USA
42.6%
Other
57.4%
Sectors
MUST
Municipal
43.03%
Other
56.97%
TFI
Municipal
42.6%
Other
57.4%
Advertisement
Diversification
MUST
Total weight of top 15 holdings out of 15
6.31%
TFI
Total weight of top 15 holdings out of 15
2.91%
Top 15 holdings
Data as of August 31, 2026
MUST
Miami-Dade, 5% 1oct2036, USD (2024A)
0.54%
US249182QF65
0.53%
New Jersey Turnpike Authority, 5% 1jan2034, USD (2025)
0.48%
US64985SDE00
0.46%
New York Transportation Development Corp., 4.375% 1oct2045, USD (2020)
0.43%
New York Metropolitan Transportation Authority, 4% 15nov2035, USD (2017C-1)
0.43%
US67766WM740
0.42%
Illinois Toll Highway Authority, 5% 1jan2038, USD (2024)
0.38%
US46247SFR04
0.38%
US48504NCC11
0.38%
Chicago O'Hare International Airport, 5% 1jan2048, USD
0.38%
New Jersey Turnpike Authority, 5% 1jan2036, USD
0.38%
US64972GJ217
0.38%
US73358XHU90
0.37%
US88285AJH23
0.37%
TFI
California, 5% 1nov2027, USD
0.23%
US55844RWX87
0.20%
US64972GE598
0.20%
State of Washington, 5% 1feb2028, USD (2024A)
0.20%
US91412HWK57
0.20%
US373385LV30
0.20%
US574193VL92
0.20%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.20%
US677523KE13
0.19%
US764581KP80
0.19%
US574204S201
0.19%
US010831EC55
0.18%
California Community Choice Financing Authority, 5% 1may2054, USD (2024A)
0.18%
California, 5% 1nov2032, USD
0.18%
US13068XJP50
0.17%
Frequently asked questions about MUST and TFI
How have the MUST and TFI ETFs performed in 2026?
As of October 14, 2026, MUST is down -4.06% year-to-date (YTD), while TFI has lost -3.29%. That puts TFI better performer ahead so far this year.
Which ETF is attracting more investor money: MUST or TFI?
Year-to-date, the MUST ETF saw +$17M in flows, compared to +$89M for TFI.
Which ETF is more volatile: MUST or TFI?
Over the past year, MUST had a volatility of 3.35%, while TFI experienced 3.29%.
Which ETF is bigger: MUST or TFI?
As of October 14, 2026, MUST holds $508.52 M in assets under management (AUM), while TFI manages $2.92 B.
What sectors do the MUST and TFI ETFs invest in?
MUST leans toward sectors like Municipal. Meanwhile, TFI focuses on Municipal.
What are the top holdings of the MUST ETF and TFI ETF?
MUST top holdings include Miami-Dade, 5% 1oct2036, USD (2024A), US249182QF65 and New Jersey Turnpike Authority, 5% 1jan2034, USD (2025). TFI holds in its top three: California, 5% 1nov2027, USD, US55844RWX87 and US64972GE598.
Which ETF is more diversified: MUST or TFI?
MUST holds 647 securities with 6.31% of its assets in the top 15. TFI has 1916 securities and a top 15 weight of 2.91%.
Advertisement
Advertisement
