TAXIvsFTMUETF Comparison
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Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and Franklin Municipal Income ETF (FTMU) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAXI is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.3% for FTMU. TAXI is down -0.11% year-to-date (YTD) with +$120M in YTD flows. FTMU performs worse with -1.73% YTD performance, and -$2M in YTD flows. Run a side-by-side ETF comparison of TAXI and FTMU 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 FTMU performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/07/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXI FTMU | -0.77%-1.48% | -1.07%-3.25% | -0.11%-1.73% | +2.28%n/a | n/an/a | n/an/a |
| Flows | TAXI FTMU | +$959K+$766K | +$69M-$15M | +$120M-$2M | +$163M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI FTMU | +1.74%+3.50% | +1.66%n/a | n/an/a | n/an/a |
| Max drawdown | TAXI FTMU | -1.42%-3.93% | -2.18%n/a | n/an/a | n/an/a |
| Max drawdown duration | TAXI FTMU | 63d66d | 190dn/a | n/an/a | n/an/a |
Trading data
TAXI | FTMU | |
Last sale 9/8/2026 at 1:30 PM | $50.24 | $7.63 |
| Previous close 09/04/2026 | $50.26 | $7.63 |
| Consolidated volume 09/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 9, 2026
1-year trailing difference
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FTMU
is actively managed and doesn’t replicate an indexTAXI | FTMU | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/8/2026 at 1:30 PM
Live
Closed
TAXI | FTMU | |
|---|---|---|
| Last price | $50.24 | $7.63 |
| 1D performance | -0.04% | +0.09% |
| AuM | $168.83 M | $458.13 M |
| E/R | 0.05% | 0.3% |
Characteristics
TAXI | FTMU | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | Franklin Templeton |
| Benchmark | ICE Intermediate Term Focused Municipal Bond Index | - |
| N° of holdings | 929 | 80 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | October 24, 2025 |
| ESG | No | No |
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Exposure
Countries
TAXI
USA
39.41%
Other
60.59%
FTMU
USA
39.78%
Other
60.22%
Sectors
TAXI
Municipal
39.41%
Other
60.59%
FTMU
Municipal
39.78%
Other
60.22%
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Diversification
TAXI
Total weight of top 15 holdings out of 15
2.53%
FTMU
Total weight of top 15 holdings out of 15
19.34%
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%
FTMU
New York Urban Development Corp., 5% 15mar2044, USD (2023A)
2.33%
New York Thruway Authority, 5% 15mar2054, USD (2022C)
1.64%
US969878AB36
1.46%
Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D)
1.39%
Port of Houston Authority, 5% 1oct2048, USD (2023)
1.29%
Triborough Bridge and Tunnel Authority, 5.25% 15may2057, USD (2022A)
1.26%
US31350ACS50
1.22%
South Carolina Jobs-Economic Development Authority, 5.5% 1nov2054, USD (2024A)
1.15%
US25476FA408
1.14%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
1.13%
US97712D8M13
1.10%
US709224DV89
1.09%
US240471PF32
1.08%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.08%
US6446147E39
0.99%
Frequently asked questions about TAXI and FTMU
How have the TAXI and FTMU ETFs performed in 2026?
As of September 7, 2026, TAXI is down -0.11% year-to-date (YTD), while FTMU has lost -1.73%. That puts TAXI better performer ahead so far this year.
Which ETF is attracting more investor money: TAXI or FTMU?
Year-to-date, the TAXI ETF saw +$120M in flows, compared to -$2M for FTMU.
Which ETF is bigger: TAXI or FTMU?
As of September 7, 2026, TAXI holds $168.83 M in assets under management (AUM), while FTMU manages $458.13 M.
What sectors do the TAXI and FTMU ETFs invest in?
TAXI leans toward sectors like Municipal. Meanwhile, FTMU focuses on Municipal.
What are the top holdings of the TAXI ETF and FTMU ETF?
TAXI top holdings include US64972GU289, US56879EHE23 and Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1). FTMU holds in its top three: New York Urban Development Corp., 5% 15mar2044, USD (2023A), New York Thruway Authority, 5% 15mar2054, USD (2022C) and US969878AB36.
Which ETF is more diversified: TAXI or FTMU?
TAXI holds 2530 securities with 2.53% of its assets in the top 15. FTMU has 259 securities and a top 15 weight of 19.34%.
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Latest news about TAXI & FTMU
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
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