TAFMvsBSMWETF Comparison
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AB Tax-Aware Intermediate Municipal ETF (TAFM) and Invesco BulletShares 2032 Municipal Bond ETF (BSMW) belong to the same industry segment: Municipal Bonds. TAFM's top 2 sector exposures are Municipal and Industrials. In contrast, BSMW's top sector exposures are Municipal. TAFM is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.18% for BSMW. TAFM is down -1.88% year-to-date (YTD) with +$650M in YTD flows. BSMW performs worse with -2.1% YTD performance, and +$89M in YTD flows. Run a side-by-side ETF comparison of TAFM 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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TAFM 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. | TAFM BSMW | -0.42%-0.09% | -3.59%-3.05% | -1.88%-2.10% | -1.37%-1.51% | n/a+10.84% | n/an/a |
| Flows | TAFM BSMW | +$286M+$17M | +$420M+$27M | +$650M+$89M | +$724M+$112M | -+$207M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFM BSMW | +5.25%+4.97% | +3.27%+3.12% | n/a+4.15% | n/an/a |
| Max drawdown | TAFM BSMW | -6.00%-5.60% | -6.61%-6.62% | n/a-6.62% | n/an/a |
| Max drawdown duration | TAFM BSMW | 92d92d | 102d229d | n/a229d | n/an/a |
Trading data
TAFM | BSMW | |
Last sale 10/16/2026 at 1:30 PM | $24.29 | $24.03 |
| Previous close 10/15/2026 | $24.23 | $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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TAFM
is actively managed and doesn’t replicate an indexTAFM | 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
TAFM | BSMW | |
|---|---|---|
| Last price | $24.29 | $24.03 |
| 1D performance | +0.25% | +0.00% |
| AuM | $1.07 B | $227.69 M |
| E/R | 0.28% | 0.18% |
Characteristics
TAFM | BSMW | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Invesco |
| Benchmark | - | ICE BulletShares USD Municipal Bond 2032 Index |
| N° of holdings | 253 | 629 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | March 1, 2023 |
| ESG | No | No |
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Exposure
Countries
TAFM
USA
41.1%
Other
58.9%
BSMW
USA
40.37%
Other
59.63%
Sectors
TAFM
Municipal
40.89%
Other
59.11%
BSMW
Municipal
40.37%
Other
59.63%
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Diversification
TAFM
Total weight of top 15 holdings out of 15
7.34%
BSMW
Total weight of top 15 holdings out of 15
5.14%
Top 15 holdings
Data as of August 31, 2026
TAFM
Idaho, 4% 30jun2027, USD (2026)
0.67%
US915260FV02
0.66%
Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B)
0.57%
California Community Choice Financing Authority, 5% 1apr2056, USD (2026A-1)
0.49%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
0.48%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.47%
US7485082P22
0.47%
New York Transitional Finance Authority, 5.25% 1may2055, USD (2026)
0.47%
US646140KU60
0.47%
US04780M7G87
0.46%
Wisconsin Public Finance Authority, 6.5% 30jun2060, USD (2025)
0.45%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.44%
US544446AS64
0.42%
Vail, 5.5% 1dec2064, USD (2025)
0.42%
New York Transportation Development Corp., 6% 30jun2059, USD (2025)
0.41%
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 TAFM and BSMW
How have the TAFM and BSMW ETFs performed in 2026?
As of October 16, 2026, TAFM is down -1.88% year-to-date (YTD), while BSMW has lost -2.1%. That puts TAFM better performer ahead so far this year.
Which ETF is attracting more investor money: TAFM or BSMW?
Year-to-date, the TAFM ETF saw +$650M in flows, compared to +$89M for BSMW.
Which ETF is more volatile: TAFM or BSMW?
Over the past year, TAFM had a volatility of 3.27%, while BSMW experienced 3.12%.
Which ETF is bigger: TAFM or BSMW?
As of October 16, 2026, TAFM holds $1.07 B in assets under management (AUM), while BSMW manages $227.69 M.
What sectors do the TAFM and BSMW ETFs invest in?
TAFM leans toward sectors like Municipal. Meanwhile, BSMW focuses on Municipal.
What are the top holdings of the TAFM ETF and BSMW ETF?
TAFM top holdings include Idaho, 4% 30jun2027, USD (2026), US915260FV02 and Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B). 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: TAFM or BSMW?
TAFM holds 667 securities with 7.34% of its assets in the top 15. BSMW has 1912 securities and a top 15 weight of 5.14%.
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