USAFvsMLNETF Comparison
VS
Atlas America Fund (USAF) belongs to the Multi-Asset: Other segment. VanEck Long Muni ETF (MLN) is part of the Municipal Bonds segment. USAF's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, MLN's top sector exposures are Municipal. USAF is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.24% for MLN. USAF is up 5.7% year-to-date (YTD) with -$817K in YTD flows. MLN performs worse with 0.57% YTD performance, and +$43M in YTD flows. Run a side-by-side ETF comparison of USAF and MLN 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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USAF vs MLN performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | USAF MLN | +2.75%-0.88% | +3.28%-0.98% | +5.70%+0.57% | +8.41%+6.44% | n/a+10.87% | n/a-6.87% |
| Flows | USAF MLN | -$843K+$4M | -$1M-$17M | -$817K+$43M | -$2M+$133M | -+$243M | -+$501M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | USAF MLN | +4.29%+3.49% | +6.01%+3.52% | n/a+5.66% | n/a+5.88% |
| Max drawdown | USAF MLN | -1.22%-2.65% | -4.43%-3.16% | n/a-8.67% | n/a-23.40% |
| Max drawdown duration | USAF MLN | 30d53d | 197d94d | n/a394d | n/a1698d |
Trading data
USAF | MLN | |
Last sale 8/31/2026 at 1:30 PM | $28.40 | $17.25 |
| Previous close 08/31/2026 | $28.33 | $17.30 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 1, 2026
1-year trailing difference
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USAF
is actively managed and doesn’t replicate an indexUSAF | MLN | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 8/31/2026 at 1:30 PM
Live
Closed
USAF | MLN | |
|---|---|---|
| Last price | $28.40 | $17.25 |
| 1D performance | +0.25% | -0.29% |
| AuM | $17.33 M | $677.62 M |
| E/R | 0.89% | 0.24% |
Characteristics
USAF | MLN | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Foreside Management Services | VanEck |
| Benchmark | - | ICE Long AMT-Free Broad National Municipal Index |
| N° of holdings | 251 | 345 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 20, 2024 | January 2, 2008 |
| ESG | No | No |
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Exposure
Countries
USAF
USA
56.08%
Other
43.92%
MLN
USA
56.18%
Other
43.82%
Sectors
USAF
Sovereign
39.84%
Finance
13.19%
Other
46.97%
MLN
Municipal
56.18%
Other
43.82%
Diversification
USAF
Total weight of top 15 holdings out of 15
46.06%
MLN
Total weight of top 15 holdings out of 15
8.03%
Top 15 holdings
Data as of July 31, 2026
USAF
US46090F3082
9.37%
US98149E3036
7.79%
US46436F1030
7.57%
US82889N5665
3.64%
US74347B2016
3.23%
US37954Y3844
2.52%
US37960A5294
2.34%
US9220408457
1.94%
Digital Realty Trust, Inc.
1.44%
Equinix, Inc.
1.34%
Realty Income Corp.
1.34%
American Tower Corp.
1.28%
Crown Castle, Inc.
0.87%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
0.70%
USA, TIPS 1.25% 15apr2031, USD (X-2031)
0.69%
MLN
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
0.77%
City of New York, 5% 1sep2048, USD (2025)
0.74%
Texas Transportation Finance Corp., 5.5% 1oct2055, USD (2025A)
0.52%
Onondaga Civic Development Corp., 5.5% 1dec2056, USD (2025)
0.52%
Los Angeles Department of Airports, 5.25% 15may2051, USD (2025)
0.51%
US677523JU73
0.51%
US64990KHZ93
0.51%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
0.51%
City of New York, 5% 1oct2045, USD (2026)
0.50%
New York Municipal Water Finance Authority, 5.25% 15jun2055, USD (2026)
0.50%
US57582TFG22
0.50%
US59334DQP23
0.49%
Massachusetts, 5% 1aug2054, USD (2024)
0.49%
North Carolina Turnpike Authority, 5% 1jan2058, USD (2024A)
0.49%
US93978LJN73
0.48%
Frequently asked questions about USAF and MLN
How have the USAF and MLN ETFs performed in 2026?
As of August 31, 2026, USAF is up 5.7% year-to-date (YTD), while MLN has returned 0.57%. That puts USAF better performer ahead so far this year.
Which ETF is attracting more investor money: USAF or MLN?
Year-to-date, the USAF ETF saw -$817K in flows, compared to +$43M for MLN.
Which ETF is more volatile: USAF or MLN?
Over the past year, USAF had a volatility of 6.01%, while MLN experienced 3.52%.
Which ETF is bigger: USAF or MLN?
As of August 31, 2026, USAF holds $17.33 M in assets under management (AUM), while MLN manages $677.62 M.
What sectors do the USAF and MLN ETFs invest in?
USAF leans toward sectors like Sovereign and Finance. Meanwhile, MLN focuses on Municipal.
What are the top holdings of the USAF ETF and MLN ETF?
USAF top holdings include US46090F3082, US98149E3036 and US46436F1030. MLN holds in its top three: Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C), City of New York, 5% 1sep2048, USD (2025) and Texas Transportation Finance Corp., 5.5% 1oct2055, USD (2025A).
Which ETF is more diversified: USAF or MLN?
USAF holds 262 securities with 46.06% of its assets in the top 15. MLN has 629 securities and a top 15 weight of 8.03%.
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