JHMU vs TAFL
John Hancock Dynamic Municipal Bond ETF vs AB Tax-Aware Long Municipal ETF
Which is better, JHMU or TAFL?
JHMU has been ahead.
TAFL has a lower expense ratio. JHMU led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JHMU | TAFL |
|---|---|---|
| Expense Ratio | 0.39% | 0.28%Best |
| AUM | $53M | $60M |
| Dividend Yield | 4.06% | 4.37% |
| Holdings | 424 | 326 |
| YTD Return | -2.25%Best | -4.38% |
| 1Y Return | -0.91%Best | -3.64% |
| 3Y Return (annualized) | +4.83% | - |
| Volatility (annualized) | 4.2%Best | 5.5% |
| Max Drawdown | -6.2%Best | -8.1% |
| $10,000 over 2.8 years | $10,775Best | $10,291 |
| Fund Family | John Hancock Investment Management | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Nov 1, 2023 | Dec 13, 2023 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Dec 13, 2023 to Oct 14, 2026 (2.8 years).
JHMU vs TAFL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.8 years both funds cover.
JHMU vs TAFL Performance
John Hancock Dynamic Municipal Bond ETF (JHMU) is an ETF from John Hancock Investment Management and AB Tax-Aware Long Municipal ETF (TAFL) is an ETF from AllianceBernstein L.P.. Over the past year JHMU returned -0.91% while TAFL returned -3.64%. Year to date, JHMU is down 2.25% versus a loss of 4.38% for TAFL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAFL has been the more volatile fund, with annualized monthly volatility of 5.5% compared with 4.2% for JHMU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.2% for JHMU and -8.1% for TAFL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JHMU charges 0.39% per year while TAFL charges 0.28%. On a $10,000 position that is $39 vs $28 annually, a gap of $11 per year that compounds over a long holding period. On income, JHMU currently yields 4.06% against 4.37% for TAFL.
Holdings Overlap
We hold position weights for 117 holdings in JHMU and 68 in TAFL, totalling 39.3% and 50.6% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 4 positions appear in both.
4 positions in common, counted across the 117 positions we hold weights for in JHMU and 68 in TAFL, against full books of 424 and 326.
Top Shared Holdings
| Stock | Weight in JHMU | Weight in TAFL | Difference |
|---|---|---|---|
| CA CCEDEV 01/01/2054California Cmnty Choice Fing A 5.25 01/01/2054 | 0.37% | 1.56% | 1.19% |
| NY NYCGEN 5 05/01/20NEW YORK NY CITY TRANSITIONAL NYCGEN 05/50 FIXED 5 | 0.10% | 1.51% | 1.41% |
| CA LOSUTL 5 06/01/20City Of Los Angeles Ca Wastewater System Revenue 5 06/01/2055 | 0.19% | 0.31% | 0.12% |
| PR PRCGEN 0 07/01/20Puerto Rico Sales Tax Fing Corp Sales Tax Revenue | 0.20% | 0.04% | 0.16% |
You are not choosing between two funds in isolation.
Whichever of JHMU and TAFL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JHMU or TAFL?
JHMU has an expense ratio of 0.39% while TAFL charges 0.28%. TAFL is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, JHMU or TAFL?
Over the past year JHMU returned -0.91% vs -3.64% for TAFL, so JHMU leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JHMU or TAFL?
TAFL has been the more volatile fund at 5.5% annualized versus 4.2% for JHMU. Worst drawdown: JHMU -6.2% vs TAFL -8.1%.
Should I hold both JHMU and TAFL?
JHMU and TAFL have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, JHMU or TAFL?
JHMU yields 4.06% while TAFL yields 4.37%, so TAFL currently pays the higher dividend yield.
Is TAFL better than JHMU?
TAFL has a lower expense ratio. JHMU led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. Which one suits a particular account depends on what it is for. This is information, not a recommendation.