TAXEvsFTCAETF Comparison
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T. Rowe Price Intermediate Municipal Income ETF (TAXE) and Franklin California Municipal Income ETF (FTCA) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAXE is less expensive with a Total Expense Ratio (TER) of 0.24%, versus 0.35% for FTCA. TAXE is down -1.02% year-to-date (YTD) with +$245M in YTD flows. FTCA performs worse with -4.88% YTD performance, and +$151M in YTD flows. Run a side-by-side ETF comparison of TAXE and FTCA 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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TAXE vs FTCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXE FTCA | +0.04%-1.45% | -2.46%-5.69% | -1.02%-4.88% | -0.28%-5.02% | n/an/a | n/an/a |
| Flows | TAXE FTCA | +$140M+$155M | +$177M+$120M | +$245M+$151M | +$265M+$738M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXE FTCA | +4.52%+6.43% | +2.78%+4.07% | n/an/a | n/an/a |
| Max drawdown | TAXE FTCA | -4.81%-7.76% | -5.51%-9.02% | n/an/a | n/an/a |
| Max drawdown duration | TAXE FTCA | 91d92d | 105d233d | n/an/a | n/an/a |
Trading data
TAXE | FTCA | |
Last sale 10/21/2026 at 1:30 PM | $49.26 | $6.94 |
| Previous close 10/20/2026 | $49.24 | $6.93 |
| Consolidated volume 10/20/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/21/2026 at 1:30 PM
Live
Closed
TAXE | FTCA | |
|---|---|---|
| Last price | $49.26 | $6.94 |
| 1D performance | +0.04% | +0.14% |
| AuM | $348.74 M | $706.36 M |
| E/R | 0.24% | 0.35% |
Characteristics
TAXE | FTCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 169 | 62 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 10, 2024 | October 24, 2025 |
| ESG | No | No |
Exposure
Countries
TAXE
USA
36.28%
Other
63.72%
FTCA
USA
36.47%
Other
63.53%
Sectors
TAXE
Municipal
36.28%
Other
63.72%
FTCA
Municipal
36.47%
Other
63.53%
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Diversification
TAXE
Total weight of top 15 holdings out of 15
11.04%
FTCA
Total weight of top 15 holdings out of 15
19.13%
Top 15 holdings
Data as of August 31, 2026
TAXE
New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023)
1.63%
Puerto Rico, 5.75% 1jul2031, USD
0.87%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.85%
US249182LT15
0.75%
Denver, 5% 1dec2029, USD (2018A)
0.74%
US899530AY53
0.74%
US736754TT94
0.71%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.68%
Colorado, 6% 15dec2041, USD (2022)
0.67%
US040507QB45
0.59%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.58%
South Carolina Jobs-Economic Development Authority, 5% 1may2043, USD (2018A)
0.56%
US92812XXT44
0.56%
US64972JNL88
0.56%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.55%
FTCA
California Pollution Control Financing Authority, 5% 21nov2045, USD
1.79%
US30309HAA59
1.67%
Chabot-Las Positas Community College District, 5.25% 1aug2048, USD (2016)
1.33%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024E)
1.31%
San Francisco Public Utilities Commission, 5% 1nov2053, USD (2023)
1.30%
US79728FLL30
1.29%
MSR Energy Authority, 6.5% 1nov2039, USD (2009A)
1.28%
Los Angeles Department of Water and Power, 5% 1jul2046, USD (2022)
1.28%
California Municipal Finance Authority, 4.2% 1aug2040, USD (2024)
1.26%
California Municipal Finance Authority, 3% 15may2051, USD
1.21%
Sweetwater Union High District, 5% 1aug2052, USD (2018)
1.19%
US130493CL10
1.07%
California, 5% 1oct2045, USD
1.07%
US13048VG510
1.05%
Alameda Corridor Transportation Authority, 0% 1oct2049, USD (2022A, 9941D)
1.04%
Frequently asked questions about TAXE and FTCA
How have the TAXE and FTCA ETFs performed in 2026?
As of October 19, 2026, TAXE is down -1.02% year-to-date (YTD), while FTCA has lost -4.88%. That puts TAXE better performer ahead so far this year.
Which ETF is attracting more investor money: TAXE or FTCA?
Year-to-date, the TAXE ETF saw +$245M in flows, compared to +$151M for FTCA.
Which ETF is more volatile: TAXE or FTCA?
Over the past year, TAXE had a volatility of 2.78%, while FTCA experienced 4.07%.
Which ETF is bigger: TAXE or FTCA?
As of October 19, 2026, TAXE holds $348.74 M in assets under management (AUM), while FTCA manages $706.36 M.
What sectors do the TAXE and FTCA ETFs invest in?
TAXE leans toward sectors like Municipal. Meanwhile, FTCA focuses on Municipal.
What are the top holdings of the TAXE ETF and FTCA ETF?
TAXE top holdings include New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023), Puerto Rico, 5.75% 1jul2031, USD and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1). FTCA holds in its top three: California Pollution Control Financing Authority, 5% 21nov2045, USD, US30309HAA59 and Chabot-Las Positas Community College District, 5.25% 1aug2048, USD (2016).
Which ETF is more diversified: TAXE or FTCA?
TAXE holds 612 securities with 11.04% of its assets in the top 15. FTCA has 288 securities and a top 15 weight of 19.13%.
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