TAXSvsTAFMETF Comparison
VS
Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) and AB Tax-Aware Intermediate Municipal ETF (TAFM) belong to the same industry segment: Municipal Bonds. TAXS's top 1 sector exposures are Municipal. In contrast, TAFM's top sector exposures are Municipal and Industrials. TAXS is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.28% for TAFM. TAXS is up 1.56% year-to-date (YTD) with +$120M in YTD flows. TAFM performs worse with -0.5% YTD performance, and +$689M in YTD flows. Run a side-by-side ETF comparison of TAXS 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.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
TAXS vs TAFM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXS TAFM | +2.12%+3.75% | +0.59%-1.42% | +1.56%-0.50% | +2.50%-0.25% | n/an/a | n/an/a |
| Flows | TAXS TAFM | +$41M+$333M | +$29M+$440M | +$120M+$689M | +$183M+$753M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXS TAFM | +2.02%+5.40% | +1.27%+3.39% | n/an/a | n/an/a |
| Max drawdown | TAXS TAFM | -1.97%-5.76% | -1.97%-6.61% | n/an/a | n/an/a |
| Max drawdown duration | TAXS TAFM | 59d75d | 59d113d | n/an/a | n/an/a |
Trading data
TAXS | TAFM | |
Last sale 10/27/2026 at 1:30 PM | $50.07 | $24.66 |
| Previous close 10/27/2026 | $50.06 | $24.61 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 28, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
TAFM
is actively managed and doesn’t replicate an indexTAXS | TAFM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
TAXS | TAFM | |
|---|---|---|
| Last price | $50.07 | $24.66 |
| 1D performance | +0.02% | +0.20% |
| AuM | $191.24 M | $1.13 B |
| E/R | 0.05% | 0.28% |
Characteristics
TAXS | TAFM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | AllianceBernstein |
| Benchmark | ICE Short Term Focused Municipal Bond Index | - |
| N° of holdings | 782 | 253 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | December 13, 2023 |
| ESG | No | No |
Advertisement
Exposure
Countries
TAXS
USA
42.95%
Other
57.05%
TAFM
USA
41.1%
Other
58.9%
Sectors
TAXS
Municipal
42.95%
Other
57.05%
TAFM
Municipal
40.89%
Other
59.11%
Advertisement
Diversification
TAXS
Total weight of top 15 holdings out of 15
3.25%
TAFM
Total weight of top 15 holdings out of 15
7.34%
Top 15 holdings
Data as of August 31, 2026
TAXS
US64972GU289
0.54%
US45505MJL19
0.23%
US267169HD59
0.21%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.21%
US254845TN04
0.20%
US938782EQ84
0.20%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.19%
State of Ohio, 5% 15dec2030, USD (2019-1)
0.19%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.18%
Kentucky, 5% 1apr2030, USD
0.18%
US604146GB05
0.18%
US84136JAE91
0.18%
Ohio Water Development Authority, 5% 1dec2029, USD (2019)
0.18%
US39081JGT97
0.18%
US842039EX31
0.18%
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 TAXS and TAFM
How have the TAXS and TAFM ETFs performed in 2026?
As of October 27, 2026, TAXS is up 1.56% year-to-date (YTD), while TAFM has lost -0.5%. That puts TAXS better performer ahead so far this year.
Which ETF is attracting more investor money: TAXS or TAFM?
Year-to-date, the TAXS ETF saw +$120M in flows, compared to +$689M for TAFM.
Which ETF is more volatile: TAXS or TAFM?
Over the past year, TAXS had a volatility of 1.27%, while TAFM experienced 3.39%.
Which ETF is bigger: TAXS or TAFM?
As of October 27, 2026, TAXS holds $191.24 M in assets under management (AUM), while TAFM manages $1.13 B.
What sectors do the TAXS and TAFM ETFs invest in?
TAXS leans toward sectors like Municipal. Meanwhile, TAFM focuses on Municipal.
What are the top holdings of the TAXS ETF and TAFM ETF?
TAXS top holdings include US64972GU289, US45505MJL19 and US267169HD59. 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: TAXS or TAFM?
TAXS holds 1947 securities with 3.25% of its assets in the top 15. TAFM has 667 securities and a top 15 weight of 7.34%.
Advertisement
Latest news about TAXS & TAFM
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXS
Advertisement
Advertisement
