TAFIvsIROCETF Comparison
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AB Tax-Aware Short Duration Municipal ETF (TAFI) belongs to the Municipal Bonds segment. Invesco Rochester High Yield Municipal ETF (IROC) is part of the US Aggregate Bonds segment. TAFI's top 3 sector exposures are Municipal, Industrials and Consumer Non-Cyclicals. In contrast, IROC's top sector exposures are Municipal. TAFI is less expensive with a Total Expense Ratio (TER) of 0.27%, versus 0.4% for IROC. TAFI is up 1.29% year-to-date (YTD) with +$316M in YTD flows. IROC performs worse with -0.84% YTD performance, and +$52M in YTD flows. Run a side-by-side ETF comparison of TAFI and IROC 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 IROC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFI IROC | +0.31%-1.11% | +0.24%-1.76% | +1.29%-0.84% | +2.46%+2.98% | +11.13%+11.61% | n/an/a |
| Flows | TAFI IROC | +$5M+$23M | +$123M+$34M | +$316M+$52M | +$520M+$127M | +$1.18B+$127M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFI IROC | +0.88%+2.84% | +0.94%+2.58% | +1.39%+3.30% | n/an/a |
| Max drawdown | TAFI IROC | -0.60%-2.92% | -1.17%-2.92% | -1.71%-4.12% | n/an/a |
| Max drawdown duration | TAFI IROC | 56d57d | 116d57d | 59d188d | n/an/a |
Trading data
TAFI | IROC | |
Last sale 9/2/2026 at 1:30 PM | $24.97 | $49.87 |
| Previous close 09/01/2026 | $24.98 | $49.80 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
TAFI | IROC | |
|---|---|---|
| Last price | $24.97 | $49.87 |
| 1D performance | -0.04% | +0.14% |
| AuM | $1.38 B | $154.93 M |
| E/R | 0.27% | 0.4% |
Characteristics
TAFI | IROC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | AllianceBernstein | Invesco |
| Benchmark | - | - |
| N° of holdings | 244 | 64 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 13, 2022 | September 12, 2022 |
| ESG | No | No |
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Exposure
Countries
TAFI
USA
39.87%
Other
60.13%
IROC
USA
40.34%
Other
59.66%
Sectors
TAFI
Municipal
39.34%
Other
60.66%
IROC
Municipal
40.34%
Other
59.66%
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Diversification
TAFI
Total weight of top 15 holdings out of 15
12.69%
IROC
Total weight of top 15 holdings out of 15
18.68%
Top 15 holdings
Data as of July 31, 2026
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%
IROC
US121342PQ61
1.53%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.53%
US647370EK77
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%
Frequently asked questions about TAFI and IROC
How have the TAFI and IROC ETFs performed in 2026?
As of August 31, 2026, TAFI is up 1.29% year-to-date (YTD), while IROC has lost -0.84%. That puts TAFI better performer ahead so far this year.
Which ETF is attracting more investor money: TAFI or IROC?
Year-to-date, the TAFI ETF saw +$316M in flows, compared to +$52M for IROC.
Which ETF is more volatile: TAFI or IROC?
Over the past year, TAFI had a volatility of 0.94%, while IROC experienced 2.58%.
Which ETF is bigger: TAFI or IROC?
As of August 31, 2026, TAFI holds $1.38 B in assets under management (AUM), while IROC manages $154.93 M.
What sectors do the TAFI and IROC ETFs invest in?
TAFI leans toward sectors like Municipal. Meanwhile, IROC focuses on Municipal.
What are the top holdings of the TAFI ETF and IROC ETF?
TAFI top holdings include Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD, US040507QB45 and US7485082P22. IROC holds in its top three: US121342PQ61, Washington Suburban Sanitary District, FRN 1jun2027, USD and US647370EK77.
Which ETF is more diversified: TAFI or IROC?
TAFI holds 691 securities with 12.69% of its assets in the top 15. IROC has 155 securities and a top 15 weight of 18.68%.
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