TMNLvsGNMAETF Comparison
VS
T. Rowe Price Long Municipal Income ETF (TMNL) belongs to the Municipal Bonds segment. iShares GNMA Bond ETF (GNMA) is part of the MBS & ABS segment. TMNL's top 1 sector exposures are Municipal. In contrast, GNMA's top sector exposures are Industrials and Non-Corporate. TMNL is more expensive with a Total Expense Ratio (TER) of 0.26%, versus 0.11% for GNMA. TMNL is down -0.79% year-to-date (YTD) with +$4M in YTD flows. GNMA performs worse with -1.65% YTD performance, and +$36M in YTD flows. Run a side-by-side ETF comparison of TMNL and GNMA 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
TMNL vs GNMA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMNL GNMA | -0.08%-0.41% | -3.52%-2.53% | -0.79%-1.65% | n/a-1.41% | n/a+15.95% | n/a+0.31% |
| Flows | TMNL GNMA | +$2M-$15M | +$2M+$7M | +$4M+$36M | -+$69M | -+$124M | --$12M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNL GNMA | +5.96%+5.77% | n/a+4.49% | n/a+5.59% | n/a+6.56% |
| Max drawdown | TMNL GNMA | -6.36%-4.45% | n/a-5.36% | n/a-5.36% | n/a-15.48% |
| Max drawdown duration | TMNL GNMA | 92d52d | n/a229d | n/a229d | n/a1397d |
Trading data
TMNL | GNMA | |
Last sale 10/16/2026 at 1:30 PM | $48.04 | $42.27 |
| Previous close 10/15/2026 | $48.06 | $42.26 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
TMNL
is actively managed and doesn’t replicate an indexTMNL | GNMA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
TMNL | GNMA | |
|---|---|---|
| Last price | $48.04 | $42.27 |
| 1D performance | -0.06% | +0.02% |
| AuM | $24.00 M | $416.20 M |
| E/R | 0.26% | 0.11% |
Characteristics
TMNL | GNMA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | T. Rowe Price | iShares |
| Benchmark | - | Bloomberg U.S. GNMA Bond Index |
| N° of holdings | 52 | 109 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | February 14, 2012 |
| ESG | No | No |
Advertisement
Exposure
Countries
TMNL
USA
48.25%
Other
51.75%
GNMA
USA
48.8%
Other
51.2%
Sectors
TMNL
Municipal
48.25%
Other
51.75%
GNMA
Industrials
39.92%
Non-Corporate
8.88%
Other
51.2%
Advertisement
Diversification
TMNL
Total weight of top 15 holdings out of 15
32.75%
GNMA
Total weight of top 15 holdings out of 15
33.91%
Top 15 holdings
Data as of August 31, 2026
TMNL
US42605KAB26
3.39%
US41423PDY07
3.08%
New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026)
3.04%
US914713W996
2.67%
New York Transitional Finance Authority, 5% 1may2051, USD (2026)
2.27%
Chesapeake Bay Bridge And Tunnel District, 5% 1jul2041, USD (2016)
2.26%
Maryland Economic Development Corp., 5.25% 30jun2052, USD (2022B)
2.04%
New York Transportation Development Corp., 6% 30jun2059, USD (2025)
1.89%
US249182LT15
1.84%
Salt Lake City Airport, 5.25% 1jul2053, USD (2023A)
1.83%
US574218T373
1.81%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.78%
North Carolina Turnpike Authority, 4% 1jan2039, USD
1.78%
Virginia Small Business Financing Authority, 5% 31dec2056, USD (2017)
1.63%
US57419TTP65
1.43%
GNMA
BlackRock Cash Funds - Treasury
8.88%
G2 MA7192, 2% 20feb2051, USD (ABS)
2.59%
US3618N5XQ77
2.51%
G2 MA9360, 4.5% 20dec2053, USD (ABS)
2.42%
US21H0526945
1.97%
US36179WTX64
1.90%
G2 MA8878, 5% 20may2053, USD (ABS)
1.67%
G2 MB0025, 5% 20nov2054, USD (ABS)
1.64%
US36179WJR07
1.62%
G2 MA7880, 2% 20feb2052, USD (ABS)
1.59%
G2 MA8801, 5.5% 20apr2053, USD (ABS)
1.59%
G2 MA6864, 2% 20sep2050, USD (ABS)
1.44%
US36179WLP13
1.40%
US36179WFG87
1.38%
US3617NWEY42
1.32%
Frequently asked questions about TMNL and GNMA
How have the TMNL and GNMA ETFs performed in 2026?
As of October 15, 2026, TMNL is down -0.79% year-to-date (YTD), while GNMA has lost -1.65%. That puts TMNL better performer ahead so far this year.
Which ETF is attracting more investor money: TMNL or GNMA?
Year-to-date, the TMNL ETF saw +$4M in flows, compared to +$36M for GNMA.
Which ETF is bigger: TMNL or GNMA?
As of October 15, 2026, TMNL holds $24.00 M in assets under management (AUM), while GNMA manages $416.20 M.
What sectors do the TMNL and GNMA ETFs invest in?
TMNL leans toward sectors like Municipal. Meanwhile, GNMA focuses on Industrials and Non-Corporate.
What are the top holdings of the TMNL ETF and GNMA ETF?
TMNL top holdings include US42605KAB26, US41423PDY07 and New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026). GNMA holds in its top three: BlackRock Cash Funds - Treasury, G2 MA7192, 2% 20feb2051, USD (ABS) and US3618N5XQ77.
Which ETF is more diversified: TMNL or GNMA?
TMNL holds 115 securities with 32.75% of its assets in the top 15. GNMA has 355 securities and a top 15 weight of 33.91%.
Advertisement
Advertisement
