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 down -0.42% year-to-date (YTD) with +$121M in YTD flows. FLMI performs worse with -2.43% YTD performance, and +$1.10B 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 09/09/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXI FLMI | -1.07%-2.43% | -1.40%-3.64% | -0.42%-2.43% | +1.86%-0.63% | n/a+11.87% | n/a-0.61% |
| Flows | TAXI FLMI | +$3M+$79M | +$54M+$317M | +$121M+$1.10B | +$164M+$1.51B | -+$2.30B | -+$2.37B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI FLMI | +1.81%+3.55% | +1.68%+2.84% | n/a+3.75% | n/a+3.66% |
| Max drawdown | TAXI FLMI | -1.72%-4.16% | -2.18%-4.90% | n/a-4.90% | n/a-16.76% |
| Max drawdown duration | TAXI FLMI | 65d71d | 192d192d | n/a192d | n/a1453d |
Trading data
TAXI | FLMI | |
Last sale 9/10/2026 at 3:41 PM | $50.00 | $23.92 |
| Previous close 09/09/2026 | $50.14 | $24.08 |
| Consolidated volume 09/09/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 10, 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 9/10/2026 at 3:41 PM
Live
Closed
TAXI | FLMI | |
|---|---|---|
| Last price | $50.00 | $23.92 |
| 1D performance | -0.29% | -0.66% |
| AuM | $169.32 M | $2.36 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 | 929 | 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
39.41%
Other
60.59%
FLMI
USA
39.59%
Other
60.41%
Sectors
TAXI
Municipal
39.41%
Other
60.59%
FLMI
Municipal
39.25%
Other
60.75%
Diversification
TAXI
Total weight of top 15 holdings out of 15
2.53%
FLMI
Total weight of top 15 holdings out of 15
20.12%
Top 15 holdings
Data as of July 31, 2026
TAXI
US64972GU289
0.30%
US56879EHE23
0.17%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.16%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.16%
State of Washington, 5% 1jun2040, USD (2026F)
0.16%
US49151HBK14
0.16%
US64972JB721
0.16%
US79467BKE47
0.16%
Black Belt Energy Gas District, 5% 1may2055, USD (2024)
0.16%
US09182TJE82
0.16%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.16%
US13013JGF75
0.16%
US915183Z598
0.15%
US09182TCG04
0.15%
US292723AY90
0.15%
FLMI
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
2.06%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
1.71%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.69%
Southeast Energy Authority, 5% 1jan2056, USD (2025A)
1.60%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.54%
US09182TGL52
1.53%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.51%
Tennessee Energy Acquisition Corp., 5% 1dec2035, USD (2025A)
1.38%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.37%
US592250EW01
1.26%
US717901CC45
0.99%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.99%
US60637AFM99
0.91%
Southeast Energy Authority, 5% 1nov2035, USD (2025H)
0.82%
Main Street Natural Gas Inc., 5% 1dec2055, USD (2025B)
0.75%
Frequently asked questions about TAXI and FLMI
How have the TAXI and FLMI ETFs performed in 2026?
As of September 9, 2026, TAXI is down -0.42% year-to-date (YTD), while FLMI has lost -2.43%. 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 +$121M in flows, compared to +$1.10B for FLMI.
Which ETF is more volatile: TAXI or FLMI?
Over the past year, TAXI had a volatility of 1.68%, while FLMI experienced 2.84%.
Which ETF is bigger: TAXI or FLMI?
As of September 9, 2026, TAXI holds $169.32 M in assets under management (AUM), while FLMI manages $2.36 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 US64972GU289, US56879EHE23 and Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-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 2530 securities with 2.53% of its assets in the top 15. FLMI has 1372 securities and a top 15 weight of 20.12%.
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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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