Franklin Liberty Federal Tax-Free Bond ETF (FLMB) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FLMB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FLMB
FLMB charges 0.30% annually. There are 88 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | FLMB vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.92B | Oct 2022 | FLMB vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 180.62M | Jul 2019 | FLMB vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 153.73M | Aug 2025 | FLMB vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 116.60M | Aug 2025 | FLMB vs TAXS |
Best Risk-Adjusted Alternatives to FLMB
FLMB has a PortfoliosLab risk / return rank of 74. There are 49 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 97 | 9.88M | Sep 2024 | FLMB vs MYMG | |
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | FLMB vs MYMF | |
| First Trust Ultra Short Duration Municipal ETF | 96 | 246.08M | Nov 2018 | FLMB vs FUMB | |
| iShares Short Maturity Municipal Bond ETF | 95 | 1.39B | Mar 2015 | FLMB vs MEAR | |
| Goldman Sachs Ultra Short Municipal Income ETF | 95 | 38.99M | Jul 2024 | FLMB vs GUMI |
Top Performing FLMB Alternatives (YTD)
FLMB is at 2.16% YTD. There are 32 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.08%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.08% | 142.76M | Jun 2013 | FLMB vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 3.93% | 19.03M | Sep 2016 | FLMB vs MFLX | |
| Rareview Tax Advantaged Income ETF | 3.90% | 18.13M | Oct 2020 | FLMB vs RTAI | |
| T. Rowe Price High Income Municipal ETF | 3.61% | 25.43M | Nov 2025 | FLMB vs THYM | |
| Overlay Shares Municipal Bond ETF | 3.51% | 30.60M | Sep 2019 | FLMB vs OVM |
Lowest Volatility Alternatives to FLMB
FLMB has 3.53% 1-year volatility. There are 108 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 30.59M | Sep 2025 | FLMB vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.73% | 8.74M | Sep 2024 | FLMB vs MYMF | |
| Allspring Ultra Short Municipal ETF | 0.75% | 30.06M | Jul 2025 | FLMB vs AUSM | |
| iShares Short-Term California Muni Active ETF | 0.75% | 398.45M | Oct 2007 | FLMB vs CALI | |
| First Trust Ultra Short Duration Municipal ETF | 0.78% | 246.08M | Nov 2018 | FLMB vs FUMB |
Lowest Drawdown Alternatives to FLMB
FLMB has a 1-year max drawdown of -3.25%. There are 97 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.08M | Nov 2018 | FLMB vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 290.51M | Sep 2019 | FLMB vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | FLMB vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | FLMB vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 587.10M | Apr 2019 | FLMB vs IBMO |
Other ETFs from Franklin Templeton
The 10 most viewed Franklin Templeton ETFs shown here include LVHI, FLIN, FLKR and span 9 categories. AUM among these funds goes as high as $5B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Franklin International Low Volatility High Dividen... | Volatility Hedged Equity, Dividend | 93 | 12.42% | 4.99B | Jul 2016 | FLMB vs LVHI | |
| Franklin FTSE India ETF | Asia Pacific Equities | 4 | -8.37% | 2.55B | Feb 2018 | FLMB vs FLIN | |
| Franklin FTSE South Korea ETF | Asia Pacific Equities | 92 | 97.22% | 1.16B | Nov 2017 | FLMB vs FLKR | |
| Franklin U.S. Low Volatility High Dividend Index E... | Dividend | 40 | 10.55% | 588.56M | Dec 2015 | FLMB vs LVHD | |
| Franklin International Core Dividend Tilt Index ET... | Foreign Large Cap Equities, Dividend | 54 | 10.71% | 2.60B | Jun 2016 | FLMB vs DIVI | |
| Putnam BDC Income ETF | Financials Equities | 4 | -11.42% | 272.46M | Sep 2022 | FLMB vs PBDC | |
| Franklin FTSE Japan ETF | Japan Equities | 53 | 15.09% | 3.93B | Nov 2017 | FLMB vs FLJP | |
| Franklin Responsibly Sourced Gold ETF | Gold, Precious Metals | 21 | -4.86% | 437.03M | Jun 2022 | FLMB vs FGDL | |
| Franklin FTSE China ETF | China Equities | 9 | -12.17% | 264.76M | Nov 2017 | FLMB vs FLCH | |
| Franklin FTSE Japan Hedged ETF | Japan Equities | 82 | 20.28% | 171.61M | Nov 2017 | FLMB vs FLJH |
Often Compared With FLMB
Investors most often compare FLMB with PYPY, ACTHX, SGOV. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare FLMB with Any Fund or Stock
Compare FLMB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FLMB with funds that move differently
Franklin Liberty Federal Tax-Free Bond ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FLMB.
Explore FLMB Diversifiers