TAFL vs TAFM
AB Tax-Aware Long Municipal ETF vs AB Tax-Aware Intermediate Municipal ETF
Which is better, TAFL or TAFM?
TAFM has been ahead.
TAFM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97.
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 | TAFL | TAFM |
|---|---|---|
| Expense Ratio | 0.28%Tie | 0.28%Tie |
| AUM | $60M | $1.0B |
| Dividend Yield | 4.37% | 3.85% |
| Holdings | 326 | 1,404 |
| YTD Return | -4.38% | -3.22%Best |
| 1Y Return | -3.64% | -2.29%Best |
| Volatility (annualized) | 5.5% | 4.5%Best |
| Max Drawdown | -8.1% | -6.6%Best |
| $10,000 over 2.8 years | $10,291 | $10,504Best |
| Fund Family | AllianceBernstein L.P. | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Dec 13, 2023 | Dec 13, 2023 |
Not shown on this pair: 3Y Return (annualized), 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).
TAFL 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.
TAFL vs TAFM Performance
AB Tax-Aware Long Municipal ETF (TAFL) is an ETF from AllianceBernstein L.P. and AB Tax-Aware Intermediate Municipal ETF (TAFM) is an ETF from AllianceBernstein L.P.. Over the past year TAFL returned -3.64% while TAFM returned -2.29%. Year to date, TAFL is down 4.38% versus a loss of 3.22% for TAFM.
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 4.5% 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 -8.1% for TAFL 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TAFL charges 0.28% per year while TAFM charges 0.28%. On a $10,000 position that is $28 vs $28 annually. On income, TAFL currently yields 4.37% against 3.85% for TAFM.
Holdings Overlap
We hold position weights for 68 holdings in TAFL and 234 in TAFM, totalling 50.6% 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, 49 positions appear in both.
49 positions in common, counted across the 68 positions we hold weights for in TAFL and 234 in TAFM, against full books of 326 and 1,404.
Top Shared Holdings
| Stock | Weight in TAFL | Weight in TAFM | Difference |
|---|---|---|---|
| NY TRBTRN 5 05/15/20Triborough Bridge And Tunnel Authority, New York, Sales Tax Revenue Bonds, Mta Bridges & Tunnels, Tbta Capital Lockbox-City Sales Tax, Series 2024A-1 | 2.73% | 0.13% | 2.60% |
| WI PUBTRN 5.75 12/31Pub Fin A 5.75% 12/31/65 | 2.36% | 0.23% | 2.13% |
| AZ SLTPWR 5 12/01/20Salt Verde Az Financial Corp Senior Gas Revenue 5% 12/01/2037 | 1.53% | 0.31% | 1.22% |
| CA CCEDEV 01/01/2054California Cmnty Choice Fing A 5.25 01/01/2054 | 1.56% | 0.14% | 1.42% |
| NY NYCGEN 5 05/01/20NEW YORK NY CITY TRANSITIONAL NYCGEN 05/50 FIXED 5 | 1.51% | 0.18% | 1.33% |
| GA MELPWR 5 07/01/20Municipal Elec Auth Ga 5% Jul 01, 2052 | 1.46% | 0.23% | 1.23% |
| CO DENAPT 5 11/15/20City And County Of Denver Co Airport System Revenuefx.Rt. Muni Bond | 1.56% | 0.12% | 1.44% |
| AZ SALAGR 5 01/01/20Salt River Project Agricultural Improvement & Power District 5 01/01/2044 | 1.55% | 0.12% | 1.43% |
| NY NYCUTL 5 06/15/20New York City Municipal Water Finance Authority 5 06/15/2048 | 1.52% | 0.15% | 1.37% |
| WA VANHSG 4.25 02/01Vancouver Wa Hsg Auth 4.25 2038-02-01 | 1.44% | 0.23% | 1.21% |
You are not choosing between two funds in isolation.
Whichever of TAFL 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, TAFL or TAFM?
TAFL has an expense ratio of 0.28% while TAFM charges 0.28%. At the precision these are quoted to, they cost the same.
Which performed better, TAFL or TAFM?
Over the past year TAFL returned -3.64% 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, TAFL or TAFM?
TAFL has been the more volatile fund at 5.5% annualized versus 4.5% for TAFM. Worst drawdown: TAFL -8.1% vs TAFM -6.6%.
Should I hold both TAFL and TAFM?
TAFL and TAFM have a monthly-return correlation of 0.97, 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, TAFL or TAFM?
TAFL yields 4.37% while TAFM yields 3.85%, so TAFL currently pays the higher dividend yield.
Is TAFM better than TAFL?
TAFM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.