TAFLvsMUNYETF Comparison
VS
AB Tax-Aware Long Municipal ETF (TAFL) and Vanguard New York Tax-Exempt Bond ETF (MUNY) 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 0.09% for MUNY. TAFL is down -1.28% year-to-date (YTD) with +$21M in YTD flows. MUNY performs worse with -1.87% YTD performance, and +$342M in YTD flows. Run a side-by-side ETF comparison of TAFL and MUNY 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 MUNY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFL MUNY | -2.80%-2.61% | -3.46%-3.49% | -1.28%-1.87% | +0.18%-0.59% | n/an/a | n/an/a |
| Flows | TAFL MUNY | +$4M+$37M | +$10M+$107M | +$21M+$342M | +$39M+$434M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFL MUNY | +3.68%+3.23% | +3.07%+2.57% | n/an/a | n/an/a |
| Max drawdown | TAFL MUNY | -4.29%-4.04% | -4.29%-4.04% | n/an/a | n/an/a |
| Max drawdown duration | TAFL MUNY | 71d72d | 71d72d | n/an/a | n/an/a |
Trading data
TAFL | MUNY | |
Last sale 9/17/2026 at 1:30 PM | $24.07 | $99.27 |
| Previous close 09/16/2026 | $23.96 | $98.95 |
| Consolidated volume 09/16/2026 | ||
| 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 | MUNY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/17/2026 at 1:30 PM
Live
Closed
TAFL | MUNY | |
|---|---|---|
| Last price | $24.07 | $99.27 |
| 1D performance | +0.46% | +0.33% |
| AuM | $65.96 M | $516.96 M |
| E/R | 0.28% | 0.09% |
Characteristics
TAFL | MUNY | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Vanguard |
| Benchmark | - | S&P NewYork AMT-Free Municipal USD10 Million Par Bond Index |
| N° of holdings | 64 | 1815 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | May 20, 2025 |
| ESG | No | No |
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Exposure
Countries
TAFL
USA
63.23%
Other
36.77%
MUNY
USA
61.35%
Other
38.65%
Sectors
TAFL
Municipal
63.23%
Other
36.77%
MUNY
Municipal
61.35%
Other
38.65%
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Diversification
TAFL
Total weight of top 15 holdings out of 15
29.64%
MUNY
Total weight of top 15 holdings out of 15
3.52%
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%
MUNY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.33%
City of New York, 4% 1aug2018, USD (2012)
0.29%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.28%
MTA Hudson Rail Yards Trust, 5% 15nov2056, USD (2016A)
0.26%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.24%
City of New York, FRN 1dec2047, USD
0.23%
Battery Park City Authority, 5.25% 1nov2055, USD (2025)
0.22%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.22%
US896032BB41
0.22%
New York Transitional Finance Authority, 5% 1nov2034, USD (2026)
0.22%
US896035CD29
0.22%
US89602HEY99
0.21%
New York Municipal Water Finance Authority, FRN 15jun2049, USD
0.20%
US64989KLR58
0.19%
New York Municipal Water Finance Authority, FRN 15jun2044, USD
0.19%
Frequently asked questions about TAFL and MUNY
How have the TAFL and MUNY ETFs performed in 2026?
As of September 15, 2026, TAFL is down -1.28% year-to-date (YTD), while MUNY has lost -1.87%. That puts TAFL better performer ahead so far this year.
Which ETF is attracting more investor money: TAFL or MUNY?
Year-to-date, the TAFL ETF saw +$21M in flows, compared to +$342M for MUNY.
Which ETF is more volatile: TAFL or MUNY?
Over the past year, TAFL had a volatility of 3.07%, while MUNY experienced 2.57%.
Which ETF is bigger: TAFL or MUNY?
As of September 15, 2026, TAFL holds $65.96 M in assets under management (AUM), while MUNY manages $516.96 M.
What sectors do the TAFL and MUNY ETFs invest in?
TAFL leans toward sectors like Municipal. Meanwhile, MUNY focuses on Municipal.
What are the top holdings of the TAFL ETF and MUNY 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). MUNY holds in its top three: New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), City of New York, 4% 1aug2018, USD (2012) and Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A).
Which ETF is more diversified: TAFL or MUNY?
TAFL holds 119 securities with 29.64% of its assets in the top 15. MUNY has 3577 securities and a top 15 weight of 3.52%.
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