MINO vs TAFL
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund vs AB Tax-Aware Long Municipal ETF
Which is better, MINO or TAFL?
Nearly the same fund. TAFL costs less.
TAFL has a lower expense ratio. MINO led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96.
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 | MINO | TAFL |
|---|---|---|
| Expense Ratio | 0.39% | 0.28%Best |
| AUM | $850M | $60M |
| Dividend Yield | 4.17% | 4.37% |
| Holdings | 1,083 | 326 |
| YTD Return | -2.95%Best | -4.38% |
| 1Y Return | -2.10%Best | -3.64% |
| 3Y Return (annualized) | +3.99% | - |
| 5Y Return (annualized) | +0.59% | - |
| Volatility (annualized) | 4.6%Best | 5.5% |
| Max Drawdown | -6.9%Best | -8.1% |
| $10,000 over 2.8 years | $10,579Best | $10,291 |
| Fund Family | PIMCO (US) | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Sep 8, 2021 | Dec 13, 2023 |
Not shown on this pair: 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).
MINO 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.
MINO vs TAFL Performance
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) is an ETF from PIMCO (US) and AB Tax-Aware Long Municipal ETF (TAFL) is an ETF from AllianceBernstein L.P.. Over the past year MINO returned -2.10% while TAFL returned -3.64%. Year to date, MINO is down 2.95% 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 4.6% for MINO. 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 -6.9% for MINO 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MINO 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, MINO currently yields 4.17% against 4.37% for TAFL.
Holdings Overlap
We hold position weights for 226 holdings in MINO and 68 in TAFL, totalling 33.7% 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, 12 positions appear in both.
12 positions in common, counted across the 226 positions we hold weights for in MINO and 68 in TAFL, against full books of 1,083 and 326.
Top Shared Holdings
| Stock | Weight in MINO | Weight in TAFL | Difference |
|---|---|---|---|
| WI PUBTRN 5.75 12/31Pub Fin A 5.75% 12/31/65 | 0.25% | 2.36% | 2.11% |
| SC SCSUTL 5.25 12/01South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2024B 5.25 12/01/2054 | 0.18% | 1.79% | 1.61% |
| NY NYCUTL 5 06/15/20New York City Municipal Water Finance Authority 5 06/15/2048 | 0.27% | 1.52% | 1.25% |
| NY NYCGEN 5 05/01/20NEW YORK NY CITY TRANSITIONAL NYCGEN 05/50 FIXED 5 | 0.17% | 1.51% | 1.34% |
| NY TRBTRN 5.25 05/15Triborough Brdg & Tunl Auth N Bds 2024As 5.25 2064-05-15 | 0.07% | 1.51% | 1.44% |
| OH BUCGEN 5 06/01/20Buckeye Tobacco Settlement Financing Auth Oh Ref-Senior-Class 2-Ser B-2 5.000 Jun 01 55 | 0.64% | 0.57% | 0.07% |
| KY KYSPWR 01/01/2055Kentucky Inc Ky Pub Energy Auth Gas Suplly Rev Ref | 0.04% | 1.15% | 1.11% |
| CA GLDGEN 5 06/01/20Golden State Tobacco Securitization Corp 2051-06-01 | 0.54% | 0.52% | 0.02% |
| PR PRCGEN 5 07/01/20Puerto Rico Sales Tax Financing Corp Sa 5.000 07/01/2058 | 0.22% | 0.70% | 0.48% |
| CA CCEDEV 11/01/2055California Community Choice Financing Authority 5% 11/01/2055 | 0.21% | 0.53% | 0.32% |
You are not choosing between two funds in isolation.
Whichever of MINO 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, MINO or TAFL?
MINO 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, MINO or TAFL?
Over the past year MINO returned -2.10% vs -3.64% for TAFL, so MINO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MINO or TAFL?
TAFL has been the more volatile fund at 5.5% annualized versus 4.6% for MINO. Worst drawdown: MINO -6.9% vs TAFL -8.1%.
Should I hold both MINO and TAFL?
MINO and TAFL have a monthly-return correlation of 0.96, 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, MINO or TAFL?
MINO yields 4.17% while TAFL yields 4.37%, so TAFL currently pays the higher dividend yield.
Is TAFL better than MINO?
TAFL has a lower expense ratio. MINO led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.