TAXIvsTAFMETF Comparison
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Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and AB Tax-Aware Intermediate Municipal ETF (TAFM) belong to the same industry segment: Municipal Bonds. TAXI's top 1 sector exposures are Municipal. In contrast, TAFM's top sector exposures are Municipal and Industrials. TAXI is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.28% for TAFM. TAXI is up 0.39% year-to-date (YTD) with +$274M in YTD flows. TAFM performs worse with -1.06% YTD performance, and +$672M in YTD flows. Run a side-by-side ETF comparison of TAXI and TAFM 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 TAFM 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 TAFM | +2.16%+0.38% | +0.46%-2.25% | +0.39%-1.06% | +1.42%-0.81% | n/an/a | n/an/a |
| Flows | TAXI TAFM | +$147M+$318M | +$194M+$428M | +$274M+$672M | +$317M+$746M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI TAFM | +3.82%+5.50% | +2.43%+3.37% | n/an/a | n/an/a |
| Max drawdown | TAXI TAFM | -3.77%-5.76% | -4.65%-6.61% | n/an/a | n/an/a |
| Max drawdown duration | TAXI TAFM | 71d70d | 236d108d | n/an/a | n/an/a |
Trading data
TAXI | TAFM | |
Last sale 10/26/2026 at 4:12 PM | $50.50 | $24.59 |
| Previous close 10/22/2026 | $50.34 | $24.57 |
| 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 26, 2026
1-year trailing difference
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TAFM
is actively managed and doesn’t replicate an indexTAXI | TAFM | |
|---|---|---|
| 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 4:12 PM
Live
Closed
TAXI | TAFM | |
|---|---|---|
| Last price | $50.50 | $24.59 |
| 1D performance | +0.31% | +0.06% |
| AuM | $324.47 M | $1.10 B |
| E/R | 0.05% | 0.28% |
Characteristics
TAXI | TAFM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | AllianceBernstein |
| Benchmark | ICE Intermediate Term Focused Municipal Bond Index | - |
| N° of holdings | 908 | 253 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | December 13, 2023 |
| ESG | No | No |
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Exposure
Countries
TAXI
USA
39.43%
Other
60.57%
TAFM
USA
41.1%
Other
58.9%
Sectors
TAXI
Municipal
39.43%
Other
60.57%
TAFM
Municipal
40.89%
Other
59.11%
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Diversification
TAXI
Total weight of top 15 holdings out of 15
2.48%
TAFM
Total weight of top 15 holdings out of 15
7.34%
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%
TAFM
Idaho, 4% 30jun2027, USD (2026)
0.67%
US915260FV02
0.66%
Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B)
0.57%
California Community Choice Financing Authority, 5% 1apr2056, USD (2026A-1)
0.49%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
0.48%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.47%
US7485082P22
0.47%
New York Transitional Finance Authority, 5.25% 1may2055, USD (2026)
0.47%
US646140KU60
0.47%
US04780M7G87
0.46%
Wisconsin Public Finance Authority, 6.5% 30jun2060, USD (2025)
0.45%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.44%
US544446AS64
0.42%
Vail, 5.5% 1dec2064, USD (2025)
0.42%
New York Transportation Development Corp., 6% 30jun2059, USD (2025)
0.41%
Frequently asked questions about TAXI and TAFM
How have the TAXI and TAFM ETFs performed in 2026?
As of October 23, 2026, TAXI is up 0.39% year-to-date (YTD), while TAFM has lost -1.06%. That puts TAXI better performer ahead so far this year.
Which ETF is attracting more investor money: TAXI or TAFM?
Year-to-date, the TAXI ETF saw +$274M in flows, compared to +$672M for TAFM.
Which ETF is more volatile: TAXI or TAFM?
Over the past year, TAXI had a volatility of 2.43%, while TAFM experienced 3.37%.
Which ETF is bigger: TAXI or TAFM?
As of October 23, 2026, TAXI holds $324.47 M in assets under management (AUM), while TAFM manages $1.10 B.
What sectors do the TAXI and TAFM ETFs invest in?
TAXI leans toward sectors like Municipal. Meanwhile, TAFM focuses on Municipal.
What are the top holdings of the TAXI ETF and TAFM ETF?
TAXI top holdings include Huron Valley School District, 5% 1may2040, USD (2026), US56879EHE23 and Energy Southeast, 5.5% 1nov2053, USD (2023A-1). TAFM holds in its top three: Idaho, 4% 30jun2027, USD (2026), US915260FV02 and Maryland Economic Development Corp., 5.25% 30jun2055, USD (2022B).
Which ETF is more diversified: TAXI or TAFM?
TAXI holds 2484 securities with 2.48% of its assets in the top 15. TAFM has 667 securities and a top 15 weight of 7.34%.
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Latest news about TAXI & TAFM
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
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