TAFMvsTAXSETF Comparison
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AB Tax-Aware Intermediate Municipal ETF (TAFM) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) belong to the same industry segment: Municipal Bonds. TAFM's top 2 sector exposures are Municipal and Industrials. In contrast, TAXS's top sector exposures are Municipal. TAFM is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.05% for TAXS. TAFM is down -1.88% year-to-date (YTD) with +$650M in YTD flows. TAXS performs better with 0.77% YTD performance, and +$95M in YTD flows. Run a side-by-side ETF comparison of TAFM and TAXS 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 TAXS 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 TAXS | -0.42%+0.09% | -3.59%-0.40% | -1.88%+0.77% | -1.37%+1.66% | n/an/a | n/an/a |
| Flows | TAFM TAXS | +$286M+$19M | +$420M+$6M | +$650M+$95M | +$724M+$158M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAFM TAXS | +5.25%+1.92% | +3.27%+1.20% | n/an/a | n/an/a |
| Max drawdown | TAFM TAXS | -6.00%-1.97% | -6.61%-1.97% | n/an/a | n/an/a |
| Max drawdown duration | TAFM TAXS | 92d52d | 102d52d | n/an/a | n/an/a |
Trading data
TAFM | TAXS | |
Last sale 10/16/2026 at 1:30 PM | $24.29 | $49.68 |
| Previous close 10/15/2026 | $24.23 | $49.64 |
| 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 | TAXS | |
|---|---|---|
| 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 | TAXS | |
|---|---|---|
| Last price | $24.29 | $49.68 |
| 1D performance | +0.25% | +0.09% |
| AuM | $1.07 B | $164.91 M |
| E/R | 0.28% | 0.05% |
Characteristics
TAFM | TAXS | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | AllianceBernstein | Northern Trust |
| Benchmark | - | ICE Short Term Focused Municipal Bond Index |
| N° of holdings | 253 | 782 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 13, 2023 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
TAFM
USA
41.1%
Other
58.9%
TAXS
USA
42.95%
Other
57.05%
Sectors
TAFM
Municipal
40.89%
Other
59.11%
TAXS
Municipal
42.95%
Other
57.05%
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Diversification
TAFM
Total weight of top 15 holdings out of 15
7.34%
TAXS
Total weight of top 15 holdings out of 15
3.25%
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%
TAXS
US64972GU289
0.54%
US45505MJL19
0.23%
US267169HD59
0.21%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.21%
US254845TN04
0.20%
US938782EQ84
0.20%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.19%
State of Ohio, 5% 15dec2030, USD (2019-1)
0.19%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.18%
US604146GB05
0.18%
Kentucky, 5% 1apr2030, USD
0.18%
US84136JAE91
0.18%
Ohio Water Development Authority, 5% 1dec2029, USD (2019)
0.18%
US39081JGT97
0.18%
US451446AC29
0.18%
Frequently asked questions about TAFM and TAXS
How have the TAFM and TAXS ETFs performed in 2026?
As of October 16, 2026, TAFM is down -1.88% year-to-date (YTD), while TAXS has returned 0.77%. That puts TAXS better performer ahead so far this year.
Which ETF is attracting more investor money: TAFM or TAXS?
Year-to-date, the TAFM ETF saw +$650M in flows, compared to +$95M for TAXS.
Which ETF is more volatile: TAFM or TAXS?
Over the past year, TAFM had a volatility of 3.27%, while TAXS experienced 1.2%.
Which ETF is bigger: TAFM or TAXS?
As of October 16, 2026, TAFM holds $1.07 B in assets under management (AUM), while TAXS manages $164.91 M.
What sectors do the TAFM and TAXS ETFs invest in?
TAFM leans toward sectors like Municipal. Meanwhile, TAXS focuses on Municipal.
What are the top holdings of the TAFM ETF and TAXS ETF?
TAFM top holdings include Idaho, 4% 30jun2027, USD (2026), US915260FV02 and Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B). TAXS holds in its top three: US64972GU289, US45505MJL19 and US267169HD59.
Which ETF is more diversified: TAFM or TAXS?
TAFM holds 667 securities with 7.34% of its assets in the top 15. TAXS has 1947 securities and a top 15 weight of 3.25%.
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Latest news about TAFM & TAXS
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXS
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