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 up 0.39% year-to-date (YTD) with +$274M in YTD flows. FTMU performs worse with -3.36% YTD performance, and +$35M 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 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXI FTMU | +2.16%+0.83% | +0.46%-3.09% | +0.39%-3.36% | +1.42%-3.55% | n/an/a | n/an/a |
| Flows | TAXI FTMU | +$147M+$41M | +$194M+$38M | +$274M+$35M | +$317M+$509M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI FTMU | +3.82%+6.46% | +2.43%+4.17% | n/an/a | n/an/a |
| Max drawdown | TAXI FTMU | -3.77%-7.07% | -4.65%-9.03% | n/an/a | n/an/a |
| Max drawdown duration | TAXI FTMU | 71d87d | 236d236d | n/an/a | n/an/a |
Trading data
TAXI | FTMU | |
Last sale 10/23/2026 at 1:30 PM | $50.34 | $7.52 |
| Previous close 10/22/2026 | $50.11 | $7.48 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 25, 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 10/23/2026 at 1:30 PM
Live
Closed
TAXI | FTMU | |
|---|---|---|
| Last price | $50.34 | $7.52 |
| 1D performance | +0.46% | +0.53% |
| AuM | $324.47 M | $488.86 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 | 908 | 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
39.43%
Other
60.57%
FTMU
USA
39.82%
Other
60.18%
Sectors
TAXI
Municipal
39.43%
Other
60.57%
FTMU
Municipal
39.82%
Other
60.18%
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Diversification
TAXI
Total weight of top 15 holdings out of 15
2.48%
FTMU
Total weight of top 15 holdings out of 15
19.19%
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%
FTMU
New York Urban Development Corp., 5% 15mar2044, USD (2023A)
2.35%
US969878AB36
1.49%
Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D)
1.41%
Port of Houston Authority, 5% 1oct2048, USD (2023)
1.32%
Triborough Bridge and Tunnel Authority, 5.25% 15may2057, USD (2022A)
1.29%
US31350ACS50
1.25%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
1.17%
South Carolina Jobs-Economic Development Authority, 5.5% 1nov2054, USD (2024A)
1.16%
US25476FA408
1.15%
New York Thruway Authority, 5% 15mar2054, USD (2022C)
1.15%
US97712D8M13
1.12%
US709224DV89
1.12%
US240471PF32
1.11%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.10%
US6446147E39
1.01%
Frequently asked questions about TAXI and FTMU
How have the TAXI and FTMU ETFs performed in 2026?
As of October 23, 2026, TAXI is up 0.39% year-to-date (YTD), while FTMU has lost -3.36%. 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 +$274M in flows, compared to +$35M for FTMU.
Which ETF is more volatile: TAXI or FTMU?
Over the past year, TAXI had a volatility of 2.43%, while FTMU experienced 4.17%.
Which ETF is bigger: TAXI or FTMU?
As of October 23, 2026, TAXI holds $324.47 M in assets under management (AUM), while FTMU manages $488.86 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 Huron Valley School District, 5% 1may2040, USD (2026), US56879EHE23 and Energy Southeast, 5.5% 1nov2053, USD (2023A-1). FTMU holds in its top three: New York Urban Development Corp., 5% 15mar2044, USD (2023A), US969878AB36 and Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D).
Which ETF is more diversified: TAXI or FTMU?
TAXI holds 2484 securities with 2.48% of its assets in the top 15. FTMU has 260 securities and a top 15 weight of 19.19%.
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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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