MUST vs TAFM
Columbia Multi-Sector Municipal Income ETF vs AB Tax-Aware Intermediate Municipal ETF
Which is better, MUST or TAFM?
TAFM has been ahead.
MUST has a lower expense ratio. TAFM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94.
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 | MUST | TAFM |
|---|---|---|
| Expense Ratio | 0.23%Best | 0.28% |
| AUM | $509M | $1.0B |
| Dividend Yield | 3.59% | 3.85% |
| Holdings | 1,292 | 1,404 |
| YTD Return | -4.34% | -3.22%Best |
| 1Y Return | -2.87% | -2.29%Best |
| 3Y Return (annualized) | +2.83% | - |
| 5Y Return (annualized) | -0.37% | - |
| Volatility (annualized) | 5.2% | 4.5%Best |
| Max Drawdown | -8.4% | -6.6%Best |
| $10,000 over 2.8 years | $10,194 | $10,504Best |
| Fund Family | Columbia Threadneedle Investments | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Oct 10, 2018 | 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).
MUST vs TAFM 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.
MUST vs TAFM Performance
Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments and AB Tax-Aware Intermediate Municipal ETF (TAFM) is an ETF from AllianceBernstein L.P.. Over the past year MUST returned -2.87% while TAFM returned -2.29%. Year to date, MUST is down 4.34% versus a loss of 3.22% for TAFM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUST has been the more volatile fund, with annualized monthly volatility of 5.2% compared with 4.5% for TAFM. 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 -8.4% for MUST and -6.6% for TAFM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MUST charges 0.23% per year while TAFM charges 0.28%. On a $10,000 position that is $23 vs $28 annually, a gap of $5 per year that compounds over a long holding period. On income, MUST currently yields 3.59% against 3.85% for TAFM.
Holdings Overlap
We hold position weights for 356 holdings in MUST and 234 in TAFM, totalling 52.2% and 28.8% 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, 33 positions appear in both.
33 positions in common, counted across the 356 positions we hold weights for in MUST and 234 in TAFM, against full books of 1,292 and 1,404.
Top Shared Holdings
| Stock | Weight in MUST | Weight in TAFM | Difference |
|---|---|---|---|
| IL ILSTRN 5 01/01/20Illinois State Toll Highway Authority 5 01/01/2042 | 0.12% | 0.36% | 0.24% |
| IL CHITRN 5 01/01/20Chicago O'Hare International Airport 5 2036-01-01 | 0.42% | 0.06% | 0.36% |
| FL BREMED 5 04/01/20Brevard County Health Facilities Authority 5.0% 04/01/2042 | 0.29% | 0.16% | 0.13% |
| NJ NJSTRN 5.25 06/15New Jersey Transportation Trust Fund Authority 5.25 06/15/2050 | 0.20% | 0.24% | 0.04% |
| PA PASHGR 5.25 11/01Pennsylvania Higher Educational Facilities Authority | 0.27% | 0.15% | 0.12% |
| IL MPNFAC 5 06/15/20Met Pier And Expo 5% 6/15/2050 Q | 0.19% | 0.23% | 0.04% |
| IL CHIEDU 6 12/01/20Chicago Board Of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A 6 12/01/2049 | 0.19% | 0.15% | 0.04% |
| FL MIATRN 5 10/01/20Miami Dade Cnty Fl Aviation Re Miatrn 10/34 Fixed 5 5% | 0.20% | 0.13% | 0.07% |
| PA PITUTL 5 09/01/20Pittsburgh Water & Sewer Authority 0.05 09/01/2044 | 0.21% | 0.12% | 0.09% |
| CO DENAPT 5 11/15/20Denver City And County, Colorado, Airport System Revenue Bonds, Series 2022A | 0.19% | 0.12% | 0.07% |
You are not choosing between two funds in isolation.
Whichever of MUST and TAFM 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, MUST or TAFM?
MUST has an expense ratio of 0.23% while TAFM charges 0.28%. MUST is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, MUST or TAFM?
Over the past year MUST returned -2.87% vs -2.29% for TAFM, so TAFM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MUST or TAFM?
MUST has been the more volatile fund at 5.2% annualized versus 4.5% for TAFM. Worst drawdown: MUST -8.4% vs TAFM -6.6%.
Should I hold both MUST and TAFM?
MUST and TAFM have a monthly-return correlation of 0.94, 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, MUST or TAFM?
MUST yields 3.59% while TAFM yields 3.85%, so TAFM currently pays the higher dividend yield.
Is TAFM better than MUST?
MUST has a lower expense ratio. TAFM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.