TAFIvsBSMWETF Comparison
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AB Tax-Aware Short Duration Municipal ETF (TAFI) and Invesco BulletShares 2032 Municipal Bond ETF (BSMW) belong to the same industry segment: Municipal Bonds. TAFI's top 3 sector exposures are Municipal, Industrials and Consumer Non-Cyclicals. In contrast, BSMW's top sector exposures are Municipal. TAFI is more expensive with a Total Expense Ratio (TER) of 0.27%, versus 0.18% for BSMW. TAFI is up 0.49% year-to-date (YTD) with +$397M in YTD flows. BSMW performs worse with -2.1% YTD performance, and +$89M in YTD flows. Run a side-by-side ETF comparison of TAFI and BSMW 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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TAFI vs BSMW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFI BSMW | -0.05%-0.09% | -0.78%-3.05% | +0.49%-2.10% | +0.92%-1.51% | +11.08%+10.84% | n/an/a |
| Flows | TAFI BSMW | +$75M+$17M | +$78M+$27M | +$397M+$89M | +$509M+$112M | +$1.26B+$207M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFI BSMW | +2.14%+4.97% | +1.34%+3.12% | +1.47%+4.15% | n/an/a |
| Max drawdown | TAFI BSMW | -2.23%-5.60% | -2.28%-6.62% | -2.28%-6.62% | n/an/a |
| Max drawdown duration | TAFI BSMW | 64d92d | 102d229d | 102d229d | n/an/a |
Trading data
TAFI | BSMW | |
Last sale 10/16/2026 at 1:30 PM | $24.76 | $24.03 |
| Previous close 10/15/2026 | $24.74 | $24.03 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 18, 2026
1-year trailing difference
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TAFI
is actively managed and doesn’t replicate an indexTAFI | BSMW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
TAFI | BSMW | |
|---|---|---|
| Last price | $24.76 | $24.03 |
| 1D performance | +0.08% | +0.00% |
| AuM | $1.44 B | $227.69 M |
| E/R | 0.27% | 0.18% |
Characteristics
TAFI | BSMW | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Invesco |
| Benchmark | - | ICE BulletShares USD Municipal Bond 2032 Index |
| N° of holdings | 237 | 629 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 13, 2022 | March 1, 2023 |
| ESG | No | No |
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Exposure
Countries
TAFI
USA
38.46%
Other
61.54%
BSMW
USA
40.37%
Other
59.63%
Sectors
TAFI
Municipal
37.95%
Other
62.05%
BSMW
Municipal
40.37%
Other
59.63%
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Diversification
TAFI
Total weight of top 15 holdings out of 15
12.84%
BSMW
Total weight of top 15 holdings out of 15
5.14%
Top 15 holdings
Data as of August 31, 2026
TAFI
Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD
1.53%
US040507QB45
1.41%
US7485082P22
1.17%
City of New York, 5% 1feb2032, USD (2026)
1.05%
Colorado Health Facilities Authority, 5% 1sep2032, USD (2025A)
0.83%
US230589AB90
0.81%
Illinois Finance Authority, FRN 15nov2037, USD (2018)
0.77%
Revere, 4% 29jul2027, USD
0.75%
Miami-Dade School District, 4% 7jan2027, USD (2026)
0.74%
US09182TKL07
0.74%
Puerto Rico Sales Tax Financing Corp., 0% 1jul2029, USD (3792D)
0.73%
US745160TD34
0.66%
Orchard Park Central School District, 4% 30apr2027, USD (2026)
0.57%
US67756CGX02
0.57%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.53%
BSMW
University of California Medical Center, 5% 15may2047, USD (2022)
0.51%
New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023)
0.49%
US46246SAU96
0.42%
University of California, 5% 15may2032, USD (2022)
0.41%
University of California, 5% 15may2052, USD (2022)
0.38%
New York Dormitory Authority, 5% 1may2052, USD (2022A)
0.35%
Los Angeles Unified School District, 5% 1jul2032, USD (2024)
0.31%
New Jersey, 4% 1jun2032, USD
0.30%
Tarrant Cultural Education Facilities Finance Corp., 5% 15nov2051, USD (2022D)
0.29%
US13063DT817
0.29%
US89602HEY99
0.28%
US01728VWU06
0.28%
New York Transitional Finance Authority, 5% 1feb2047, USD
0.28%
New York Municipal Water Finance Authority, 5% 15jun2047, USD
0.28%
Triborough Bridge and Tunnel Authority, 5.25% 15may2052, USD (2022C)
0.28%
Frequently asked questions about TAFI and BSMW
How have the TAFI and BSMW ETFs performed in 2026?
As of October 16, 2026, TAFI is up 0.49% year-to-date (YTD), while BSMW has lost -2.1%. That puts TAFI better performer ahead so far this year.
Which ETF is attracting more investor money: TAFI or BSMW?
Year-to-date, the TAFI ETF saw +$397M in flows, compared to +$89M for BSMW.
Which ETF is more volatile: TAFI or BSMW?
Over the past year, TAFI had a volatility of 1.34%, while BSMW experienced 3.12%.
Which ETF is bigger: TAFI or BSMW?
As of October 16, 2026, TAFI holds $1.44 B in assets under management (AUM), while BSMW manages $227.69 M.
What sectors do the TAFI and BSMW ETFs invest in?
TAFI leans toward sectors like Municipal. Meanwhile, BSMW focuses on Municipal.
What are the top holdings of the TAFI ETF and BSMW ETF?
TAFI top holdings include Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD, US040507QB45 and US7485082P22. BSMW holds in its top three: University of California Medical Center, 5% 15may2047, USD (2022), New York Municipal Water Finance Authority, 5.25% 15jun2052, USD (2023) and US46246SAU96.
Which ETF is more diversified: TAFI or BSMW?
TAFI holds 691 securities with 12.84% of its assets in the top 15. BSMW has 1912 securities and a top 15 weight of 5.14%.
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