TAFMvsIROCETF Comparison
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AB Tax-Aware Intermediate Municipal ETF (TAFM) belongs to the Municipal Bonds segment. Invesco Rochester High Yield Municipal ETF (IROC) is part of the US Aggregate Bonds segment. TAFM's top 2 sector exposures are Municipal and Industrials. In contrast, IROC's top sector exposures are Municipal. TAFM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.4% for IROC. TAFM is down -1.88% year-to-date (YTD) with +$650M in YTD flows. IROC performs worse with -3.2% YTD performance, and +$93M in YTD flows. Run a side-by-side ETF comparison of TAFM 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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TAFM vs IROC 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 IROC | -0.42%-0.98% | -3.59%-4.70% | -1.88%-3.20% | -1.37%-2.41% | n/a+11.52% | n/an/a |
| Flows | TAFM IROC | +$286M+$34M | +$420M+$67M | +$650M+$93M | +$724M+$142M | -+$169M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFM IROC | +5.25%+5.64% | +3.27%+3.51% | n/a+3.52% | n/an/a |
| Max drawdown | TAFM IROC | -6.00%-6.59% | -6.61%-7.11% | n/a-7.11% | n/an/a |
| Max drawdown duration | TAFM IROC | 92d92d | 102d102d | n/a102d | n/an/a |
Trading data
TAFM | IROC | |
Last sale 10/16/2026 at 1:30 PM | $24.29 | $48.45 |
| Previous close 10/15/2026 | $24.23 | $48.46 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
TAFM | IROC | |
|---|---|---|
| Last price | $24.29 | $48.45 |
| 1D performance | +0.25% | -0.02% |
| AuM | $1.07 B | $192.11 M |
| E/R | 0.28% | 0.4% |
Characteristics
TAFM | IROC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | AllianceBernstein | Invesco |
| Benchmark | - | - |
| N° of holdings | 253 | 71 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | September 12, 2022 |
| ESG | No | No |
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Exposure
Countries
TAFM
USA
41.1%
Other
58.9%
IROC
USA
40.88%
Other
59.12%
Sectors
TAFM
Municipal
40.89%
Other
59.11%
IROC
Municipal
40.88%
Other
59.12%
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Diversification
TAFM
Total weight of top 15 holdings out of 15
7.34%
IROC
Total weight of top 15 holdings out of 15
18.23%
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%
IROC
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.28%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.28%
US13013JGF75
1.25%
US37353PWV74
1.25%
US812643H643
1.24%
US121342PQ61
1.24%
City of New York, FRN 1dec2047, USD
1.24%
US677561LA84
1.24%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.24%
US686507NQ33
1.24%
Gulf Coast Industrial Development Authority, FRN 1nov2041, USD (2012)
1.24%
Mississippi Business Finance Corp., FRN 1nov2035, USD (2010I)
1.24%
US63608TBR05
1.09%
Texas, 5% 1aug2041, USD
1.07%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.05%
Frequently asked questions about TAFM and IROC
How have the TAFM and IROC ETFs performed in 2026?
As of October 16, 2026, TAFM is down -1.88% year-to-date (YTD), while IROC has lost -3.2%. That puts TAFM better performer ahead so far this year.
Which ETF is attracting more investor money: TAFM or IROC?
Year-to-date, the TAFM ETF saw +$650M in flows, compared to +$93M for IROC.
Which ETF is more volatile: TAFM or IROC?
Over the past year, TAFM had a volatility of 3.27%, while IROC experienced 3.51%.
Which ETF is bigger: TAFM or IROC?
As of October 16, 2026, TAFM holds $1.07 B in assets under management (AUM), while IROC manages $192.11 M.
What sectors do the TAFM and IROC ETFs invest in?
TAFM leans toward sectors like Municipal. Meanwhile, IROC focuses on Municipal.
What are the top holdings of the TAFM ETF and IROC ETF?
TAFM top holdings include Idaho, 4% 30jun2027, USD (2026), US915260FV02 and Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B). IROC holds in its top three: Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A), Kentucky Public Energy Authority, 5% 1dec2033, USD (2025) and US13013JGF75.
Which ETF is more diversified: TAFM or IROC?
TAFM holds 667 securities with 7.34% of its assets in the top 15. IROC has 174 securities and a top 15 weight of 18.23%.
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