TAXIvsTAFIETF Comparison
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Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and AB Tax-Aware Short Duration Municipal ETF (TAFI) belong to the same industry segment: Municipal Bonds. TAXI's top 1 sector exposures are Municipal. In contrast, TAFI's top sector exposures are Municipal, Industrials and Consumer Non-Cyclicals. TAXI is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.27% for TAFI. TAXI is down -0.97% year-to-date (YTD) with +$121M in YTD flows. TAFI performs better with 0.6% YTD performance, and +$314M in YTD flows. Run a side-by-side ETF comparison of TAXI and TAFI 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 TAFI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXI TAFI | -1.62%-0.71% | -1.87%-0.54% | -0.97%+0.60% | +1.08%+1.17% | n/a+10.48% | n/an/a |
| Flows | TAXI TAFI | +$3M+$8M | +$54M+$113M | +$121M+$314M | +$164M+$481M | -+$1.18B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI TAFI | +2.09%+1.19% | +1.76%+1.00% | n/a+1.41% | n/an/a |
| Max drawdown | TAXI TAFI | -2.27%-0.86% | -2.64%-1.17% | n/a-1.71% | n/an/a |
| Max drawdown duration | TAXI TAFI | 66d66d | 193d116d | n/a59d | n/an/a |
Trading data
TAXI | TAFI | |
Last sale 9/11/2026 at 1:30 PM | $49.86 | $24.86 |
| Previous close 09/10/2026 | $49.90 | $24.83 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 11, 2026
1-year trailing difference
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TAFI
is actively managed and doesn’t replicate an indexTAXI | TAFI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
TAXI | TAFI | |
|---|---|---|
| Last price | $49.86 | $24.86 |
| 1D performance | -0.09% | +0.12% |
| AuM | $168.38 M | $1.36 B |
| E/R | 0.05% | 0.27% |
Characteristics
TAXI | TAFI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | AllianceBernstein |
| Benchmark | ICE Intermediate Term Focused Municipal Bond Index | - |
| N° of holdings | 929 | 244 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | September 13, 2022 |
| ESG | No | No |
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Exposure
Countries
TAXI
USA
39.41%
Other
60.59%
TAFI
USA
39.87%
Other
60.13%
Sectors
TAXI
Municipal
39.41%
Other
60.59%
TAFI
Municipal
39.34%
Other
60.66%
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Diversification
TAXI
Total weight of top 15 holdings out of 15
2.53%
TAFI
Total weight of top 15 holdings out of 15
12.69%
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%
TAFI
Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD
1.52%
US040507QB45
1.40%
US7485082P22
1.16%
City of New York, 5% 1feb2032, USD (2026)
1.04%
Colorado Health Facilities Authority, 5% 1sep2032, USD (2025A)
0.82%
Illinois Finance Authority, FRN 15nov2037, USD (2018)
0.76%
Revere, 4% 29jul2027, USD
0.74%
Miami-Dade School District, 4% 7jan2027, USD (2026)
0.74%
US574193XM57
0.73%
US09182TKL07
0.73%
New York Transitional Finance Authority, 5% 1nov2030, USD (2026)
0.71%
US544657JD25
0.67%
Orchard Park Central School District, 4% 30apr2027, USD (2026)
0.57%
US67756CGX02
0.56%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.52%
Frequently asked questions about TAXI and TAFI
How have the TAXI and TAFI ETFs performed in 2026?
As of September 10, 2026, TAXI is down -0.97% year-to-date (YTD), while TAFI has returned 0.6%. That puts TAFI better performer ahead so far this year.
Which ETF is attracting more investor money: TAXI or TAFI?
Year-to-date, the TAXI ETF saw +$121M in flows, compared to +$314M for TAFI.
Which ETF is more volatile: TAXI or TAFI?
Over the past year, TAXI had a volatility of 1.76%, while TAFI experienced 1%.
Which ETF is bigger: TAXI or TAFI?
As of September 10, 2026, TAXI holds $168.38 M in assets under management (AUM), while TAFI manages $1.36 B.
What sectors do the TAXI and TAFI ETFs invest in?
TAXI leans toward sectors like Municipal. Meanwhile, TAFI focuses on Municipal.
What are the top holdings of the TAXI ETF and TAFI ETF?
TAXI top holdings include US64972GU289, US56879EHE23 and Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1). TAFI holds in its top three: Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD, US040507QB45 and US7485082P22.
Which ETF is more diversified: TAXI or TAFI?
TAXI holds 2530 securities with 2.53% of its assets in the top 15. TAFI has 691 securities and a top 15 weight of 12.69%.
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Latest news about TAXI & TAFI
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
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