TFIvsCAMETF Comparison
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State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and AB California Intermediate Municipal ETF (CAM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TFI is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.27% for CAM. TFI is down -2.27% year-to-date (YTD) with +$8M in YTD flows. CAM performs better with -0.56% YTD performance, and +$106M in YTD flows. Run a side-by-side ETF comparison of TFI and CAM 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 CAM 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 CAM | -2.54%-1.50% | -3.71%-1.95% | -2.27%-0.56% | -1.08%n/a | +7.84%n/a | -4.09%n/a |
| Flows | TFI CAM | -$127M+$2M | -$91M+$25M | +$8M+$106M | -$272M- | -$685M- | -$258M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TFI CAM | +3.31%+2.08% | +2.57%n/a | +4.03%n/a | +4.03%n/a |
| Max drawdown | TFI CAM | -4.07%-2.23% | -4.23%n/a | -6.06%n/a | -14.89%n/a |
| Max drawdown duration | TFI CAM | 78d77d | 205dn/a | 277dn/a | 1616dn/a |
Trading data
TFI | CAM | |
Last sale 9/23/2026 at 1:30 PM | $43.26 | $24.30 |
| Previous close 09/22/2026 | $43.55 | $24.42 |
| 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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CAM
is actively managed and doesn’t replicate an indexTFI | CAM | |
|---|---|---|
| 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 | CAM | |
|---|---|---|
| Last price | $43.26 | $24.30 |
| 1D performance | -0.67% | -0.49% |
| AuM | $2.88 B | $1.19 B |
| E/R | 0.23% | 0.27% |
Characteristics
TFI | CAM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | AllianceBernstein |
| Benchmark | ICE 1+ Year AMT‑Free Broad Municipal Index | - |
| N° of holdings | 818 | 140 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2007 | October 3, 2025 |
| ESG | No | No |
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Exposure
Countries
TFI
USA
42.65%
Other
57.35%
CAM
USA
43.58%
Other
56.42%
Sectors
TFI
Municipal
42.65%
Other
57.35%
CAM
Municipal
43.58%
Other
56.42%
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Diversification
TFI
Total weight of top 15 holdings out of 15
2.89%
CAM
Total weight of top 15 holdings out of 15
23.01%
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%
CAM
City of Los Angeles, 5% 24jun2027, USD (2026)
3.42%
City of San Diego, 5% 30jun2027, USD (2026)
3.00%
US544657JD25
2.57%
US13013JCM62
1.49%
US13013JDB98
1.47%
California Community Choice Financing Authority, 5% 1jan2055, USD (2024B)
1.45%
US13034A7F19
1.36%
California Community Choice Financing Authority, 5% 1jan2056, USD (2024H)
1.26%
US79766DWM72
1.18%
Bay Area Toll Authority, 3.54% 1apr2056, USD (2021)
1.12%
US769110DA28
1.05%
San Francisco Airport Commission, 5% 1may2034, USD (2019A)
0.96%
US79739GRG37
0.90%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
0.90%
US79766DWW54
0.89%
Frequently asked questions about TFI and CAM
How have the TFI and CAM ETFs performed in 2026?
As of September 22, 2026, TFI is down -2.27% year-to-date (YTD), while CAM has lost -0.56%. That puts CAM better performer ahead so far this year.
Which ETF is attracting more investor money: TFI or CAM?
Year-to-date, the TFI ETF saw +$8M in flows, compared to +$106M for CAM.
Which ETF is bigger: TFI or CAM?
As of September 22, 2026, TFI holds $2.88 B in assets under management (AUM), while CAM manages $1.19 B.
What sectors do the TFI and CAM ETFs invest in?
TFI leans toward sectors like Municipal. Meanwhile, CAM focuses on Municipal.
What are the top holdings of the TFI ETF and CAM ETF?
TFI top holdings include California, 5% 1nov2027, USD, City of New York, 5% 1aug2033, USD (2018) and US91412HWK57. CAM holds in its top three: City of Los Angeles, 5% 24jun2027, USD (2026), City of San Diego, 5% 30jun2027, USD (2026) and US544657JD25.
Which ETF is more diversified: TFI or CAM?
TFI holds 1904 securities with 2.89% of its assets in the top 15. CAM has 416 securities and a top 15 weight of 23.01%.
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