TMNSvsFUSIETF Comparison
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T. Rowe Price Short Municipal Income ETF (TMNS) belongs to the Municipal Bonds segment. American Century Ultrashort Income ETF (FUSI) is part of the US Aggregate Bonds segment. TMNS's top 1 sector exposures are Municipal. In contrast, FUSI's top sector exposures are Industrials and Sovereign. TMNS is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.19% for FUSI. TMNS is up 0.4% year-to-date (YTD) with +$1M in YTD flows. FUSI performs better with 3.56% YTD performance, and +$43M in YTD flows. Run a side-by-side ETF comparison of TMNS and FUSI 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 FUSI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMNS FUSI | -0.14%+0.29% | -1.05%+0.97% | +0.40%+3.56% | n/a+4.61% | n/a+17.83% | n/an/a |
| Flows | TMNS FUSI | -$1M+$25M | +$1M+$43M | +$1M+$43M | -+$15M | -+$45M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNS FUSI | +2.73%+0.25% | n/a+0.30% | n/a+0.42% | n/an/a |
| Max drawdown | TMNS FUSI | -2.76%-0.04% | n/a-0.08% | n/a-0.32% | n/an/a |
| Max drawdown duration | TMNS FUSI | 51d8d | n/a4d | n/a19d | n/an/a |
Trading data
TMNS | FUSI | |
Last sale 10/16/2026 at 1:30 PM | $49.10 | $50.42 |
| Previous close 10/15/2026 | $49.08 | $50.46 |
| 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 1:30 PM
Live
Closed
TMNS | FUSI | |
|---|---|---|
| Last price | $49.10 | $50.42 |
| 1D performance | +0.02% | -0.09% |
| AuM | $22.08 M | $65.52 M |
| E/R | 0.18% | 0.19% |
Characteristics
TMNS | FUSI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | American Century Investments |
| Benchmark | - | - |
| N° of holdings | 58 | 22 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | March 16, 2023 |
| ESG | No | No |
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Exposure
Countries
TMNS
USA
29.18%
Other
70.82%
FUSI
USA
30.05%
Other
69.95%
Sectors
TMNS
Municipal
29.18%
Other
70.82%
FUSI
Industrials
22.52%
Sovereign
7.53%
Other
69.95%
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Diversification
TMNS
Total weight of top 15 holdings out of 15
25.29%
FUSI
Total weight of top 15 holdings out of 15
31.49%
Top 15 holdings
Data as of August 31, 2026
TMNS
US23503CFK80
2.22%
US735240L842
2.13%
New York Housing Finance Agency, FRN 1may2049, USD
2.11%
US09182TCG04
1.87%
California Community Choice Financing Authority, 5.5% 1oct2054, USD (2023F)
1.82%
US650116DJ25
1.78%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.67%
US735389D620
1.67%
US546068AZ00
1.55%
Illinois Toll Highway Authority, 5% 1jan2031, USD
1.55%
US425507GL89
1.44%
US64988YQ831
1.40%
US04052FDU66
1.38%
Puerto Rico, 5.75% 1jul2031, USD
1.37%
US187145WS29
1.35%
FUSI
USA, Notes FRN 31jan2027, USD (AX-2027)
7.53%
LCM 35A, FRN 15oct2034, USD (ABS, BR)
3.02%
Atlas Senior Loan Fund 2021-17A, FRN 20oct2034, USD (ABS, B1)
2.26%
US3136BV2T46
1.98%
US30227TAC45
1.59%
US06759JBA51
1.51%
US559916AG67
1.51%
Brant Point CLO 2023-1A, FRN 26jul2038, USD (ABS, BR)
1.51%
FS Rialto Issuer 2024-FL9, FRN 19oct2039, USD (ABS, A)
1.51%
BX Commercial Mortgage Trust 2026-CSMO, FRN 17feb2043, USD (ABS, A)
1.51%
US87168YAS90
1.51%
US00093DAA72
1.51%
US46676AAA16
1.51%
TPG Real Estate Finance Issuer 2025-FL6, FRN 18sep2042, USD (ABS, A)
1.51%
US55819GBC24
1.51%
Frequently asked questions about TMNS and FUSI
How have the TMNS and FUSI ETFs performed in 2026?
As of October 15, 2026, TMNS is up 0.4% year-to-date (YTD), while FUSI has returned 3.56%. That puts FUSI better performer ahead so far this year.
Which ETF is attracting more investor money: TMNS or FUSI?
Year-to-date, the TMNS ETF saw +$1M in flows, compared to +$43M for FUSI.
Which ETF is bigger: TMNS or FUSI?
As of October 15, 2026, TMNS holds $22.08 M in assets under management (AUM), while FUSI manages $65.52 M.
What sectors do the TMNS and FUSI ETFs invest in?
TMNS leans toward sectors like Municipal. Meanwhile, FUSI focuses on Industrials and Sovereign.
What are the top holdings of the TMNS ETF and FUSI ETF?
TMNS top holdings include US23503CFK80, US735240L842 and New York Housing Finance Agency, FRN 1may2049, USD. FUSI holds in its top three: USA, Notes FRN 31jan2027, USD (AX-2027), LCM 35A, FRN 15oct2034, USD (ABS, BR) and Atlas Senior Loan Fund 2021-17A, FRN 20oct2034, USD (ABS, B1).
Which ETF is more diversified: TMNS or FUSI?
TMNS holds 208 securities with 25.29% of its assets in the top 15. FUSI has 86 securities and a top 15 weight of 31.49%.
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Latest news about TMNS & FUSI
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