TMNLvsMUNXETF Comparison
VS
T. Rowe Price Long Municipal Income ETF (TMNL) and AMG GW&K Muni Income ETF (MUNX) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TMNL is less expensive with a Total Expense Ratio (TER) of 0.26%, versus 0.29% for MUNX. TMNL is down -1.82% year-to-date (YTD) with +$4M in YTD flows. MUNX performs worse with -2.32% YTD performance, and +$9M in YTD flows. Run a side-by-side ETF comparison of TMNL and MUNX 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 MUNX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMNL MUNX | -1.48%-0.47% | -4.56%-4.31% | -1.82%-2.32% | n/an/a | n/an/a | n/an/a |
| Flows | TMNL MUNX | +$2M-$454K | +$2M-$454K | +$4M+$9M | -- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNL MUNX | +5.55%+5.91% | n/an/a | n/an/a | n/an/a |
| Max drawdown | TMNL MUNX | -6.40%-6.80% | n/an/a | n/an/a | n/an/a |
| Max drawdown duration | TMNL MUNX | 92d92d | n/an/a | n/an/a | n/an/a |
Trading data
TMNL | MUNX | |
Last sale 10/16/2026 at 6:19 PM | $48.05 | $23.74 |
| Previous close 10/15/2026 | $48.06 | $23.73 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 6:19 PM
Live
Closed
TMNL | MUNX | |
|---|---|---|
| Last price | $48.05 | $23.74 |
| 1D performance | -0.03% | +0.04% |
| AuM | $23.75 M | $18.49 M |
| E/R | 0.26% | 0.29% |
Characteristics
TMNL | MUNX | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | AMG |
| Benchmark | - | - |
| N° of holdings | 52 | 38 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | October 29, 2025 |
| ESG | No | No |
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Exposure
Countries
TMNL
USA
48.25%
Other
51.75%
MUNX
USA
47.36%
Other
52.64%
Sectors
TMNL
Municipal
48.25%
Other
51.75%
MUNX
Municipal
47.36%
Other
52.64%
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Diversification
TMNL
Total weight of top 15 holdings out of 15
32.75%
MUNX
Total weight of top 15 holdings out of 15
31.79%
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%
MUNX
Commonwealth Financing Authority, 4% 1jun2039, USD (2018)
3.05%
US70868YAL39
2.60%
US03843TBQ31
2.24%
Houston, 5% 1sep2038, USD (2026C)
2.18%
US717823Y444
2.17%
New York Transportation Development Corp., 6% 30jun2055, USD (2025)
2.14%
US65889BEL45
2.13%
US46613SGA24
2.07%
Massachusetts Development Finance Agency, 5.5% 1oct2044, USD (2026A)
2.00%
Texas Private Activity Bond Surface Transportation Corp., 5% 30jun2058, USD (2019)
1.98%
US74448EAA29
1.91%
New York Urban Development Corp., 4% 31oct2034, USD (2021)
1.90%
New York Transportation Development Corp., 5% 1oct2040, USD (2020)
1.81%
US84136HCT86
1.81%
US1675937J52
1.80%
Frequently asked questions about TMNL and MUNX
How have the TMNL and MUNX ETFs performed in 2026?
As of October 14, 2026, TMNL is down -1.82% year-to-date (YTD), while MUNX has lost -2.32%. That puts TMNL better performer ahead so far this year.
Which ETF is attracting more investor money: TMNL or MUNX?
Year-to-date, the TMNL ETF saw +$4M in flows, compared to +$9M for MUNX.
Which ETF is bigger: TMNL or MUNX?
As of October 14, 2026, TMNL holds $23.75 M in assets under management (AUM), while MUNX manages $18.49 M.
What sectors do the TMNL and MUNX ETFs invest in?
TMNL leans toward sectors like Municipal. Meanwhile, MUNX focuses on Municipal.
What are the top holdings of the TMNL ETF and MUNX ETF?
TMNL top holdings include US42605KAB26, US41423PDY07 and New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026). MUNX holds in its top three: Commonwealth Financing Authority, 4% 1jun2039, USD (2018), US70868YAL39 and US03843TBQ31.
Which ETF is more diversified: TMNL or MUNX?
TMNL holds 115 securities with 32.75% of its assets in the top 15. MUNX has 73 securities and a top 15 weight of 31.79%.
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