TAFLvsBSMRETF Comparison
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AB Tax-Aware Long Municipal ETF (TAFL) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAFL is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.18% for BSMR. TAFL is down -0.94% year-to-date (YTD) with +$21M in YTD flows. BSMR performs better with -0.53% YTD performance, and +$59M in YTD flows. Run a side-by-side ETF comparison of TAFL and BSMR 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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TAFL vs BSMR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFL BSMR | -2.74%-0.62% | -3.13%-0.59% | -0.94%-0.53% | +0.53%+0.10% | n/a+7.81% | n/a-0.40% |
| Flows | TAFL BSMR | +$4M+$12M | +$10M+$19M | +$21M+$59M | +$39M+$92M | -+$269M | -+$343M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFL BSMR | +3.66%+0.91% | +3.05%+0.80% | n/a+1.87% | n/a+2.36% |
| Max drawdown | TAFL BSMR | -4.16%-0.78% | -4.16%-1.09% | n/a-2.34% | n/a-12.17% |
| Max drawdown duration | TAFL BSMR | 70d63d | 70d205d | n/a57d | n/a1555d |
Trading data
TAFL | BSMR | |
Last sale 9/15/2026 at 7:59 PM | $23.93 | $23.48 |
| Previous close 09/15/2026 | $24.01 | $23.49 |
| Consolidated volume 09/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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TAFL
is actively managed and doesn’t replicate an indexTAFL | BSMR | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/15/2026 at 7:59 PM
Live
Closed
TAFL | BSMR | |
|---|---|---|
| Last price | $23.93 | $23.48 |
| 1D performance | -0.33% | -0.04% |
| AuM | $66.19 M | $358.66 M |
| E/R | 0.28% | 0.18% |
Characteristics
TAFL | BSMR | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Invesco |
| Benchmark | - | Invesco BulletShares USD Municipal Bond 2027 Index |
| N° of holdings | 64 | 1293 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | September 13, 2019 |
| ESG | No | No |
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Exposure
Countries
TAFL
USA
63.23%
Other
36.77%
BSMR
USA
64.54%
Other
35.46%
Sectors
TAFL
Municipal
63.23%
Other
36.77%
BSMR
Municipal
64.54%
Other
35.46%
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Diversification
TAFL
Total weight of top 15 holdings out of 15
29.64%
BSMR
Total weight of top 15 holdings out of 15
4.31%
Top 15 holdings
Data as of July 31, 2026
TAFL
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.68%
Chicago, 5.25% 1nov2061, USD (2026A)
2.60%
West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B)
2.23%
New York Dormitory Authority, 5% 15mar2055, USD (2025C)
2.07%
South Carolina Public Service Authority, 5.25% 1dec2054, USD (2024)
2.03%
US812643C776
1.97%
US494791UA28
1.84%
US59333P7M43
1.81%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.79%
Cuyahoga, 5.5% 1dec2061, USD (2026)
1.79%
Denver Airport System, 5% 15nov2036, USD (2022A)
1.78%
Massachusetts Development Finance Agency, 5.5% 1dec2056, USD
1.77%
US79766DTP41
1.76%
US576000E334
1.76%
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
1.76%
BSMR
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.54%
Illinois, 5% 1nov2029, USD (2017C)
0.46%
New Jersey, 5% 1jun2027, USD
0.31%
New York Transitional Finance Authority, 5% 1feb2039, USD
0.30%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.30%
County of Clark (NV), 5% 1jun2030, USD
0.29%
Hudson Yards Infrastructure Corp., 5% 15feb2039, USD
0.29%
California Health Facilities Financing Authority, 5% 1nov2027, USD (2017A)
0.25%
Texas Water Development Board, 5% 15oct2047, USD (2017A)
0.24%
Houston Combined Utility System, 5% 15nov2042, USD (2017B)
0.24%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.23%
California, 5% 1dec2027, USD
0.23%
US64990CJK80
0.21%
Illinois, 5% 1nov2027, USD (2017D)
0.21%
US574218V676
0.21%
Frequently asked questions about TAFL and BSMR
How have the TAFL and BSMR ETFs performed in 2026?
As of September 14, 2026, TAFL is down -0.94% year-to-date (YTD), while BSMR has lost -0.53%. That puts BSMR better performer ahead so far this year.
Which ETF is attracting more investor money: TAFL or BSMR?
Year-to-date, the TAFL ETF saw +$21M in flows, compared to +$59M for BSMR.
Which ETF is more volatile: TAFL or BSMR?
Over the past year, TAFL had a volatility of 3.05%, while BSMR experienced 0.8%.
Which ETF is bigger: TAFL or BSMR?
As of September 14, 2026, TAFL holds $66.19 M in assets under management (AUM), while BSMR manages $358.66 M.
What sectors do the TAFL and BSMR ETFs invest in?
TAFL leans toward sectors like Municipal. Meanwhile, BSMR focuses on Municipal.
What are the top holdings of the TAFL ETF and BSMR ETF?
TAFL top holdings include Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025), Chicago, 5.25% 1nov2061, USD (2026A) and West Linn-Wilsonville School District №3JT, 5% 15jun2046, USD (2026B). BSMR holds in its top three: Hudson Yards Infrastructure Corp., 5% 15feb2042, USD, Illinois, 5% 1nov2029, USD (2017C) and New Jersey, 5% 1jun2027, USD.
Which ETF is more diversified: TAFL or BSMR?
TAFL holds 119 securities with 29.64% of its assets in the top 15. BSMR has 2495 securities and a top 15 weight of 4.31%.
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