TMNSvsFTPAETF Comparison
VS
T. Rowe Price Short Municipal Income ETF (TMNS) and Franklin Pennsylvania Municipal Income ETF (FTPA) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TMNS is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.35% for FTPA. TMNS is up 1.25% year-to-date (YTD) with +$2M in YTD flows. FTPA performs worse with -1.77% YTD performance, and +$31M in YTD flows. Run a side-by-side ETF comparison of TMNS and FTPA 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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TMNS vs FTPA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMNS FTPA | +0.18%-1.24% | +0.18%-3.05% | +1.25%-1.77% | n/an/a | n/an/a | n/an/a |
| Flows | TMNS FTPA | +$1M+$12M | +$2M+$12M | +$2M+$31M | -- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNS FTPA | +1.12%+3.40% | n/an/a | n/an/a | n/an/a |
| Max drawdown | TMNS FTPA | -0.76%-3.86% | n/an/a | n/an/a | n/an/a |
| Max drawdown duration | TMNS FTPA | 57d64d | n/an/a | n/an/a | n/an/a |
Trading data
TMNS | FTPA | |
Last sale 9/3/2026 at 1:30 PM | $49.62 | |
| Previous close 09/02/2026 | $49.67 | |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
TMNS | FTPA | |
|---|---|---|
| Last price | $49.62 | – |
| 1D performance | -0.08% | – |
| AuM | $23.58 M | $107.76 M |
| E/R | 0.18% | 0.35% |
Characteristics
TMNS | FTPA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 56 | 26 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | November 10, 2025 |
| ESG | No | No |
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Exposure
Countries
TMNS
USA
31.14%
Other
68.86%
FTPA
USA
28.99%
Other
71.01%
Sectors
TMNS
Municipal
31.14%
Other
68.86%
FTPA
Municipal
28.99%
Other
71.01%
Diversification
TMNS
Total weight of top 15 holdings out of 15
28.33%
FTPA
Total weight of top 15 holdings out of 15
26.24%
Top 15 holdings
Data as of July 31, 2026
TMNS
US425507GL89
3.14%
US23503CFK80
2.35%
US735240L842
2.25%
New York Housing Finance Agency, FRN 1may2049, USD
2.21%
US09182TCG04
1.98%
California Community Choice Financing Authority, 5.5% 1oct2054, USD (2023F)
1.93%
US650116DJ25
1.88%
US735389D620
1.77%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.74%
Illinois Toll Highway Authority, 5% 1jan2031, USD
1.64%
US546068AZ00
1.63%
US64988YQ831
1.48%
US04052FDU66
1.46%
Puerto Rico, 5.75% 1jul2031, USD
1.45%
US187145WS29
1.43%
FTPA
Philadelphia, 5% 1aug2047, USD
2.77%
US842039FR53
1.97%
Allegheny Hospital Development Authority, 4% 1apr2044, USD
1.96%
US709221SB22
1.89%
US709225QR06
1.79%
Pennsylvania Economic Development Financing Authority, 5% 15feb2039, USD (2022A)
1.73%
US230822TW83
1.70%
North Penn School District, 5% 1mar2051, USD (2026)
1.68%
Pennsylvania Economic Development Financing Authority, 5.25% 15dec2051, USD (2026)
1.68%
US52480RGN44
1.67%
US087470BX73
1.65%
Lackawanna Industrial Development Authority, 4% 1nov2040, USD
1.48%
US458436YP15
1.45%
US717868HY29
1.43%
US514349CZ07
1.39%
Frequently asked questions about TMNS and FTPA
How have the TMNS and FTPA ETFs performed in 2026?
As of September 1, 2026, TMNS is up 1.25% year-to-date (YTD), while FTPA has lost -1.77%. That puts TMNS better performer ahead so far this year.
Which ETF is attracting more investor money: TMNS or FTPA?
Year-to-date, the TMNS ETF saw +$2M in flows, compared to +$31M for FTPA.
Which ETF is bigger: TMNS or FTPA?
As of September 1, 2026, TMNS holds $23.58 M in assets under management (AUM), while FTPA manages $107.76 M.
What sectors do the TMNS and FTPA ETFs invest in?
TMNS leans toward sectors like Municipal. Meanwhile, FTPA focuses on Municipal.
What are the top holdings of the TMNS ETF and FTPA ETF?
TMNS top holdings include US425507GL89, US23503CFK80 and US735240L842. FTPA holds in its top three: Philadelphia, 5% 1aug2047, USD, US842039FR53 and Allegheny Hospital Development Authority, 4% 1apr2044, USD.
Which ETF is more diversified: TMNS or FTPA?
TMNS holds 183 securities with 28.33% of its assets in the top 15. FTPA has 106 securities and a top 15 weight of 26.24%.
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