TFIvsBMOPETF Comparison
VS
State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and BNY Mellon Municipal Opportunities ETF (BMOP) belong to the same industry segment: Municipal Bonds. TFI's top 1 sector exposures are Municipal. In contrast, BMOP's top sector exposures are Municipal, Sovereign and Industrials. TFI is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.54% for BMOP. Run a side-by-side ETF comparison of TFI and BMOP 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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TFI vs BMOP performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/22/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TFI BMOP | -2.54%-2.12% | -3.71%-3.21% | -2.27%n/a | -1.08%n/a | +7.84%n/a | -4.09%n/a |
| Flows | TFI BMOP | -$127M+$10M | -$91M-$3M | +$8M- | -$272M- | -$685M- | -$258M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TFI BMOP | +3.31%+3.20% | +2.57%n/a | +4.03%n/a | +4.03%n/a |
| Max drawdown | TFI BMOP | -4.07%-3.89% | -4.23%n/a | -6.06%n/a | -14.89%n/a |
| Max drawdown duration | TFI BMOP | 78d78d | 205dn/a | 277dn/a | 1616dn/a |
Trading data
TFI | BMOP | |
Last sale 9/23/2026 at 1:30 PM | $43.26 | $23.79 |
| Previous close 09/22/2026 | $43.55 | $23.95 |
| Consolidated volume 09/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 24, 2026
1-year trailing difference
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BMOP
is actively managed and doesn’t replicate an indexTFI | BMOP | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/23/2026 at 1:30 PM
Live
Closed
TFI | BMOP | |
|---|---|---|
| Last price | $43.26 | $23.79 |
| 1D performance | -0.67% | -0.67% |
| AuM | $2.88 B | $1.72 B |
| E/R | 0.23% | 0.54% |
Characteristics
TFI | BMOP | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | BNY Mellon |
| Benchmark | ICE 1+ Year AMT‑Free Broad Municipal Index | - |
| N° of holdings | 818 | 244 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2007 | January 9, 2026 |
| ESG | No | No |
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Exposure
Countries
TFI
USA
42.65%
Other
57.35%
BMOP
USA
43.44%
Other
56.56%
Sectors
TFI
Municipal
42.65%
Other
57.35%
BMOP
Municipal
42.76%
Other
57.24%
Diversification
TFI
Total weight of top 15 holdings out of 15
2.89%
BMOP
Total weight of top 15 holdings out of 15
9.93%
Top 15 holdings
Data as of July 31, 2026
TFI
California, 5% 1nov2027, USD
0.23%
City of New York, 5% 1aug2033, USD (2018)
0.21%
US91412HWK57
0.20%
US55844RWX87
0.20%
State of Washington, 5% 1feb2028, USD (2024A)
0.20%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.20%
US574204S201
0.19%
US373385LV30
0.19%
US64972GE598
0.19%
US574193VL92
0.19%
California, 5% 1nov2032, USD
0.18%
US010831EC55
0.18%
US677523KE13
0.18%
US764581KP80
0.18%
Triborough Bridge and Tunnel Authority, 5% 15nov2049, USD (2026A-1)
0.17%
BMOP
US45884AF813
0.90%
California Community Choice Financing Authority, 5% 1nov2033, USD (2025F)
0.79%
US052398FE91
0.76%
US745160SG73
0.74%
US575579U623
0.67%
University of Texas, 5% 1jul2041, USD (2023A)
0.63%
US57421CNT70
0.62%
US544532LU62
0.62%
State of Washington, 5% 1aug2040, USD (2024A)
0.62%
Black Belt Energy Gas District, 5% 1may2055, USD (2024)
0.60%
Tennergy Corp., 5% 1oct2054, USD (2024)
0.60%
US56035DHT28
0.60%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.59%
US45130ABS33
0.59%
US896035DL36
0.59%
Frequently asked questions about TFI and BMOP
Which ETF is bigger: TFI or BMOP?
As of September 22, 2026, TFI holds $2.88 B in assets under management (AUM), while BMOP manages $1.72 B.
What sectors do the TFI and BMOP ETFs invest in?
TFI leans toward sectors like Municipal. Meanwhile, BMOP focuses on Municipal.
What are the top holdings of the TFI ETF and BMOP ETF?
TFI top holdings include California, 5% 1nov2027, USD, City of New York, 5% 1aug2033, USD (2018) and US91412HWK57. BMOP holds in its top three: US45884AF813, California Community Choice Financing Authority, 5% 1nov2033, USD (2025F) and US052398FE91.
Which ETF is more diversified: TFI or BMOP?
TFI holds 1904 securities with 2.89% of its assets in the top 15. BMOP has 666 securities and a top 15 weight of 9.93%.
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