TMNLvsIBMQETF Comparison
VS
T. Rowe Price Long Municipal Income ETF (TMNL) and iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) belong to the same industry segment: Municipal Bonds. TMNL's top 1 sector exposures are Municipal. In contrast, IBMQ's top sector exposures are Municipal and Non-Corporate. TMNL is more expensive with a Total Expense Ratio (TER) of 0.26%, versus 0.1% for IBMQ. TMNL is down -0.79% year-to-date (YTD) with +$4M in YTD flows. IBMQ performs better with 0.95% YTD performance, and +$112M in YTD flows. Run a side-by-side ETF comparison of TMNL and IBMQ 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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TMNL vs IBMQ 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 IBMQ | -0.08%+0.01% | -3.52%-0.28% | -0.79%+0.95% | n/a+1.38% | n/a+11.22% | n/a+3.03% |
| Flows | TMNL IBMQ | +$2M+$13M | +$2M+$34M | +$4M+$112M | -+$172M | -+$468M | -+$617M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNL IBMQ | +5.96%+1.51% | n/a+0.99% | n/a+1.79% | n/a+2.37% |
| Max drawdown | TMNL IBMQ | -6.36%-1.57% | n/a-1.57% | n/a-2.26% | n/a-10.68% |
| Max drawdown duration | TMNL IBMQ | 92d52d | n/a52d | n/a212d | n/a1300d |
Trading data
TMNL | IBMQ | |
Last sale 10/16/2026 at 1:30 PM | $48.04 | $25.27 |
| Previous close 10/15/2026 | $48.06 | $25.27 |
| 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
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TMNL
is actively managed and doesn’t replicate an indexTMNL | IBMQ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
TMNL | IBMQ | |
|---|---|---|
| Last price | $48.04 | $25.27 |
| 1D performance | -0.06% | +0.00% |
| AuM | $24.00 M | $683.47 M |
| E/R | 0.26% | 0.1% |
Characteristics
TMNL | IBMQ | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | T. Rowe Price | iShares |
| Benchmark | - | S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index |
| N° of holdings | 52 | 908 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | April 16, 2019 |
| ESG | No | No |
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Exposure
Countries
TMNL
USA
48.25%
Other
51.75%
IBMQ
USA
48.81%
Other
51.19%
Sectors
TMNL
Municipal
48.25%
Other
51.75%
IBMQ
Municipal
48.73%
Other
51.27%
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Diversification
TMNL
Total weight of top 15 holdings out of 15
32.75%
IBMQ
Total weight of top 15 holdings out of 15
5.74%
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%
IBMQ
New Jersey Economic Development Authority, 5% 1mar2028, USD (2023)
0.56%
US13034A5B23
0.51%
New York Metropolitan Transportation Authority, 5% 15nov2028, USD (2020E)
0.48%
Pennsylvania, 5% 1jan2028, USD (2017)
0.42%
US235219UU41
0.40%
California, 5% 1oct2030, USD
0.39%
Kentucky Public Energy Authority, 4% 1feb2050, USD
0.38%
New Jersey, 5% 1jun2028, USD
0.38%
New York Transitional Finance Authority, 5% 15jul2031, USD
0.36%
Illinois, 5% 1oct2028, USD (2018A)
0.33%
US60374VEW90
0.32%
Missouri Board of Public Buildings, 4% 1oct2028, USD
0.31%
US18085PTE42
0.30%
North Texas Tollway Authority, 0% 1jan2028, USD (2008D, 7212D)
0.30%
US161045NS42
0.30%
Frequently asked questions about TMNL and IBMQ
How have the TMNL and IBMQ ETFs performed in 2026?
As of October 15, 2026, TMNL is down -0.79% year-to-date (YTD), while IBMQ has returned 0.95%. That puts IBMQ better performer ahead so far this year.
Which ETF is attracting more investor money: TMNL or IBMQ?
Year-to-date, the TMNL ETF saw +$4M in flows, compared to +$112M for IBMQ.
Which ETF is bigger: TMNL or IBMQ?
As of October 15, 2026, TMNL holds $24.00 M in assets under management (AUM), while IBMQ manages $683.47 M.
What sectors do the TMNL and IBMQ ETFs invest in?
TMNL leans toward sectors like Municipal. Meanwhile, IBMQ focuses on Municipal.
What are the top holdings of the TMNL ETF and IBMQ ETF?
TMNL top holdings include US42605KAB26, US41423PDY07 and New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026). IBMQ holds in its top three: New Jersey Economic Development Authority, 5% 1mar2028, USD (2023), US13034A5B23 and New York Metropolitan Transportation Authority, 5% 15nov2028, USD (2020E).
Which ETF is more diversified: TMNL or IBMQ?
TMNL holds 115 securities with 32.75% of its assets in the top 15. IBMQ has 2776 securities and a top 15 weight of 5.74%.
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