TAFMvsHYGHETF Comparison
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AB Tax-Aware Intermediate Municipal ETF (TAFM) belongs to the Municipal Bonds segment. iShares Interest Rate Hedged High Yield Bond ETF (HYGH) is part of the Alternatives segment. TAFM's top 2 sector exposures are Municipal and Industrials. In contrast, HYGH's top sector exposures are Finance, Consumer Services and Industrials. TAFM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 1.12% for HYGH. TAFM is up 0.67% year-to-date (YTD) with +$342M in YTD flows. HYGH performs better with 4.65% YTD performance, and +$186M in YTD flows. Run a side-by-side ETF comparison of TAFM and HYGH 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 HYGH performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAFM HYGH | -0.44%+1.19% | -0.74%+1.77% | +0.67%+4.65% | +4.80%+7.07% | n/a+29.69% | n/a+40.74% |
| Flows | TAFM HYGH | +$89M+$30M | +$185M+$104M | +$342M+$186M | +$463M+$194M | -+$479M | -+$503M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFM HYGH | +2.37%+1.90% | +2.42%+3.10% | n/a+4.42% | n/a+6.58% |
| Max drawdown | TAFM HYGH | -1.82%-0.56% | -2.61%-1.50% | n/a-5.55% | n/a-8.13% |
| Max drawdown duration | TAFM HYGH | 53d10d | 116d70d | n/a78d | n/a252d |
Trading data
TAFM | HYGH | |
Last sale | ||
| Previous close 08/28/2026 | ||
| Consolidated volume 08/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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TAFM
is actively managed and doesn’t replicate an indexTAFM | HYGH | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
TAFM | HYGH | |
|---|---|---|
| Last price | – | – |
| 1D performance | – | – |
| AuM | $784.02 M | $629.76 M |
| E/R | 0.28% | 1.12% |
Characteristics
TAFM | HYGH | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | iShares |
| Benchmark | - | BlackRock Interest Rate Hedged High Yield Bond Index |
| N° of holdings | 246 | 1318 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | May 24, 2014 |
| ESG | No | No |
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Exposure
Countries
TAFM
USA
43.2%
Other
56.8%
HYGH
USA
86.6%
Other
13.4%
Sectors
TAFM
Municipal
42.96%
Other
57.04%
HYGH
Finance
17%
Consumer Services
12.44%
Industrials
8.74%
Energy
8.16%
Non-Energy Materi.
7.66%
Business Services
7.01%
Other
39%
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Diversification
TAFM
Total weight of top 15 holdings out of 15
7.53%
HYGH
Total weight of top 15 holdings out of 15
10.04%
Top 15 holdings
Data as of July 31, 2026
TAFM
Idaho, 4% 30jun2027, USD (2026)
0.73%
Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B)
0.64%
California Community Choice Financing Authority, 5% 1apr2056, USD (2026A-1)
0.53%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
0.52%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.52%
US7485082P22
0.52%
Wisconsin Public Finance Authority, 6.5% 30jun2060, USD (2025)
0.50%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.48%
Vail, 5.5% 1dec2064, USD (2025)
0.46%
New York Transportation Development Corp., 6% 30jun2059, USD (2025)
0.46%
Charleston School District, 5% 6may2027, USD (2026A)
0.44%
Miami-Dade School District, 4% 7jan2027, USD (2026)
0.44%
Freddie Mac Multifamily Variable Rate Certificates, FRN 25aug2041, USD
0.43%
US09182TKL07
0.43%
Wisconsin Public Finance Authority, 5.75% 30jun2060, USD (2025)
0.43%
HYGH
BlackRock Cash Funds - Treasury
5.56%
1261229 B.C., 10% 15apr2032, USD
0.48%
Meridian Arc HoldCo, 6.25% 30apr2031, USD
0.45%
EchoStar, 10.75% 30nov2029, USD
0.39%
PR RNO Property Owner 1, 6.5% 1may2031, USD
0.32%
SV RNO Property Owner 1, 5.875% 1mar2031, USD
0.32%
Quikrete Holdings, 6.375% 1mar2032, USD
0.31%
Cloud Software Group, 9% 30sep2029, USD
0.30%
Cloud Software Group, 6.5% 31mar2029, USD
0.29%
Centene, 4.625% 15dec2029, USD
0.28%
Hub International, 7.25% 15jun2030, USD
0.28%
Venture Global LNG, 9.5% 1feb2029, USD
0.27%
Core Scientific Finance I, 7.75% 15may2031, USD
0.27%
Asurion LLC, 8% 31dec2032, USD
0.27%
Nexstar Media, 6.5% 15sep2033, USD
0.27%
Frequently asked questions about TAFM and HYGH
How have the TAFM and HYGH ETFs performed in 2026?
As of August 28, 2026, TAFM is up 0.67% year-to-date (YTD), while HYGH has returned 4.65%. That puts HYGH better performer ahead so far this year.
Which ETF is attracting more investor money: TAFM or HYGH?
Year-to-date, the TAFM ETF saw +$342M in flows, compared to +$186M for HYGH.
Which ETF is more volatile: TAFM or HYGH?
Over the past year, TAFM had a volatility of 2.42%, while HYGH experienced 3.1%.
Which ETF is bigger: TAFM or HYGH?
As of August 28, 2026, TAFM holds $784.02 M in assets under management (AUM), while HYGH manages $629.76 M.
What sectors do the TAFM and HYGH ETFs invest in?
TAFM leans toward sectors like Municipal. Meanwhile, HYGH focuses on Finance, Consumer Services and Industrials.
What are the top holdings of the TAFM ETF and HYGH ETF?
TAFM top holdings include Idaho, 4% 30jun2027, USD (2026), Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B) and California Community Choice Financing Authority, 5% 1apr2056, USD (2026A-1). HYGH holds in its top three: BlackRock Cash Funds - Treasury, 1261229 B.C., 10% 15apr2032, USD and Meridian Arc HoldCo, 6.25% 30apr2031, USD.
Which ETF is more diversified: TAFM or HYGH?
TAFM holds 629 securities with 7.53% of its assets in the top 15. HYGH has 1325 securities and a top 15 weight of 10.04%.
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