TAXIvsFLMIETF Comparison
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Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and Franklin Dynamic Municipal Bond ETF (FLMI) belong to the same industry segment: Municipal Bonds. TAXI's top 1 sector exposures are Municipal. In contrast, FLMI's top sector exposures are Municipal, Consumer Services and Healthcare. TAXI is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.3% for FLMI. TAXI is up 0.39% year-to-date (YTD) with +$274M in YTD flows. FLMI performs worse with -3.16% YTD performance, and +$1.13B in YTD flows. Run a side-by-side ETF comparison of TAXI and FLMI 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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TAXI vs FLMI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXI FLMI | +2.16%+1.21% | +0.46%-2.59% | +0.39%-3.16% | +1.42%-3.27% | n/a+15.37% | n/a+0.32% |
| Flows | TAXI FLMI | +$147M+$30M | +$194M+$164M | +$274M+$1.13B | +$317M+$1.42B | -+$2.32B | -+$2.40B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI FLMI | +3.82%+6.05% | +2.43%+3.83% | n/a+3.94% | n/a+3.85% |
| Max drawdown | TAXI FLMI | -3.77%-6.74% | -4.65%-8.90% | n/a-8.90% | n/a-16.26% |
| Max drawdown duration | TAXI FLMI | 71d71d | 236d236d | n/a236d | n/a1340d |
Trading data
TAXI | FLMI | |
Last sale 10/26/2026 at 1:30 PM | $50.57 | $24.04 |
| Previous close 10/23/2026 | $50.34 | $23.93 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 26, 2026
1-year trailing difference
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FLMI
is actively managed and doesn’t replicate an indexTAXI | FLMI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/26/2026 at 1:30 PM
Live
Closed
TAXI | FLMI | |
|---|---|---|
| Last price | $50.57 | $24.04 |
| 1D performance | +0.45% | +0.44% |
| AuM | $324.47 M | $2.38 B |
| E/R | 0.05% | 0.3% |
Characteristics
TAXI | FLMI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | Franklin Templeton |
| Benchmark | ICE Intermediate Term Focused Municipal Bond Index | - |
| N° of holdings | 908 | 214 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | August 31, 2017 |
| ESG | No | No |
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Exposure
Countries
TAXI
USA
39.43%
Other
60.57%
FLMI
USA
38.36%
Other
61.64%
Sectors
TAXI
Municipal
39.43%
Other
60.57%
FLMI
Municipal
38.03%
Other
61.97%
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Diversification
TAXI
Total weight of top 15 holdings out of 15
2.48%
FLMI
Total weight of top 15 holdings out of 15
19.5%
Top 15 holdings
Data as of August 31, 2026
TAXI
Huron Valley School District, 5% 1may2040, USD (2026)
0.20%
US56879EHE23
0.17%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.17%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.17%
State of Washington, 5% 1jun2040, USD (2026F)
0.17%
US49151HBK14
0.16%
US64972JB721
0.16%
US46263RTS49
0.16%
US13013JGF75
0.16%
US09182TJE82
0.16%
US79467BKE47
0.16%
Black Belt Energy Gas District, 5% 1may2055, USD (2024)
0.16%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.16%
US915183Z598
0.16%
US09182TCG04
0.16%
FLMI
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
2.08%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
1.67%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.66%
Southeast Energy Authority, 5% 1jan2056, USD (2025A)
1.56%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.53%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.51%
US09182TGL52
1.44%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.33%
US592250EW01
1.21%
US771902HS55
1.09%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.96%
US292723DZ39
0.93%
US717901CC45
0.89%
US60637AFM99
0.85%
Southeast Energy Authority, 5% 1nov2035, USD (2025H)
0.80%
Frequently asked questions about TAXI and FLMI
How have the TAXI and FLMI ETFs performed in 2026?
As of October 23, 2026, TAXI is up 0.39% year-to-date (YTD), while FLMI has lost -3.16%. That puts TAXI better performer ahead so far this year.
Which ETF is attracting more investor money: TAXI or FLMI?
Year-to-date, the TAXI ETF saw +$274M in flows, compared to +$1.13B for FLMI.
Which ETF is more volatile: TAXI or FLMI?
Over the past year, TAXI had a volatility of 2.43%, while FLMI experienced 3.83%.
Which ETF is bigger: TAXI or FLMI?
As of October 23, 2026, TAXI holds $324.47 M in assets under management (AUM), while FLMI manages $2.38 B.
What sectors do the TAXI and FLMI ETFs invest in?
TAXI leans toward sectors like Municipal. Meanwhile, FLMI focuses on Municipal.
What are the top holdings of the TAXI ETF and FLMI ETF?
TAXI top holdings include Huron Valley School District, 5% 1may2040, USD (2026), US56879EHE23 and Energy Southeast, 5.5% 1nov2053, USD (2023A-1). FLMI holds in its top three: Black Belt Energy Gas District, 5% 1oct2035, USD (2025), Southeast Energy Authority, 5% 1nov2035, USD (2024A) and Kentucky Public Energy Authority, 5% 1may2036, USD (2025).
Which ETF is more diversified: TAXI or FLMI?
TAXI holds 2484 securities with 2.48% of its assets in the top 15. FLMI has 1414 securities and a top 15 weight of 19.5%.
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Latest news about TAXI & FLMI
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
What's the Fund | Franklin Dynamic Municipal Bond ETF (FLMI)
January 20, 2026
FLMI
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