TFIvsMNBDETF Comparison
VS
State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and ALPS Intermediate Municipal Bond ETF (MNBD) belong to the same industry segment: Municipal Bonds. TFI's top 1 sector exposures are Municipal. In contrast, MNBD's top sector exposures are Municipal and Non-Corporate. TFI is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.44% for MNBD. TFI is down -2.27% year-to-date (YTD) with +$8M in YTD flows. MNBD performs better with -1.02% YTD performance, and +$14M in YTD flows. Run a side-by-side ETF comparison of TFI and MNBD 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
TFI vs MNBD 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 MNBD | -2.54%-2.03% | -3.71%-2.69% | -2.27%-1.02% | -1.08%+0.11% | +7.84%+10.13% | -4.09%n/a |
| Flows | TFI MNBD | -$127M+$637K | -$91M+$3M | +$8M+$14M | -$272M+$16M | -$685M+$26M | -$258M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TFI MNBD | +3.31%+2.69% | +2.57%+2.11% | +4.03%+3.02% | +4.03%n/a |
| Max drawdown | TFI MNBD | -4.07%-2.99% | -4.23%-3.12% | -6.06%-3.67% | -14.89%n/a |
| Max drawdown duration | TFI MNBD | 78d78d | 205d205d | 277d270d | 1616dn/a |
Trading data
TFI | MNBD | |
Last sale 9/23/2026 at 1:30 PM | $43.26 | $24.89 |
| Previous close 09/22/2026 | $43.55 | $25.10 |
| 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
Create an account to view replication metrics
Join for free
MNBD
is actively managed and doesn’t replicate an indexTFI | MNBD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 9/23/2026 at 1:30 PM
Live
Closed
TFI | MNBD | |
|---|---|---|
| Last price | $43.26 | $24.89 |
| 1D performance | -0.67% | -0.86% |
| AuM | $2.88 B | $55.74 M |
| E/R | 0.23% | 0.44% |
Characteristics
TFI | MNBD | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | ALPS |
| Benchmark | ICE 1+ Year AMT‑Free Broad Municipal Index | - |
| N° of holdings | 818 | 87 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2007 | May 19, 2022 |
| ESG | No | No |
Advertisement
Exposure
Countries
TFI
USA
42.65%
Other
57.35%
MNBD
USA
44.9%
Other
55.1%
Sectors
TFI
Municipal
42.65%
Other
57.35%
MNBD
Municipal
44.77%
Other
55.23%
Advertisement
Diversification
TFI
Total weight of top 15 holdings out of 15
2.89%
MNBD
Total weight of top 15 holdings out of 15
20.56%
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%
MNBD
US84136HCT86
1.90%
US685363AC70
1.80%
University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B)
1.65%
US64972GDC50
1.62%
Pennsylvania Turnpike Commission, 0% 1dec2037, USD (8799D)
1.53%
Freddie Mac Multifamily Variable Rate Certificates, FRN 25aug2041, USD
1.51%
US83712D4A17
1.51%
Salt Verde Financial Corp., 5% 1dec2032, USD (2007-1)
1.26%
US6582074E20
1.20%
Wyoming Community Development Authority, 3.5% 1jun2052, USD (2022)
1.15%
US01728LFH06
1.14%
San Mateo Union High School District, 0% 1sep2041, USD (2011A)
1.12%
Modesto Irrigation District, FRN 1sep2037, USD (2007F)
1.08%
US617877DB88
1.07%
Triborough Bridge and Tunnel Authority, 0% 15nov2039, USD (2022D-1B)
1.01%
Frequently asked questions about TFI and MNBD
How have the TFI and MNBD ETFs performed in 2026?
As of September 22, 2026, TFI is down -2.27% year-to-date (YTD), while MNBD has lost -1.02%. That puts MNBD better performer ahead so far this year.
Which ETF is attracting more investor money: TFI or MNBD?
Year-to-date, the TFI ETF saw +$8M in flows, compared to +$14M for MNBD.
Which ETF is more volatile: TFI or MNBD?
Over the past year, TFI had a volatility of 2.57%, while MNBD experienced 2.11%.
Which ETF is bigger: TFI or MNBD?
As of September 22, 2026, TFI holds $2.88 B in assets under management (AUM), while MNBD manages $55.74 M.
What sectors do the TFI and MNBD ETFs invest in?
TFI leans toward sectors like Municipal. Meanwhile, MNBD focuses on Municipal.
What are the top holdings of the TFI ETF and MNBD ETF?
TFI top holdings include California, 5% 1nov2027, USD, City of New York, 5% 1aug2033, USD (2018) and US91412HWK57. MNBD holds in its top three: US84136HCT86, US685363AC70 and University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B).
Which ETF is more diversified: TFI or MNBD?
TFI holds 1904 securities with 2.89% of its assets in the top 15. MNBD has 197 securities and a top 15 weight of 20.56%.
Advertisement
Advertisement
