Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) 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 FLMI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FLMI
FLMI charges 0.30% annually. There are 86 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% | 45.70B | Aug 2015 | FLMI vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.87B | Oct 2022 | FLMI vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 178.36M | Jul 2019 | FLMI vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 144.40M | Aug 2025 | FLMI vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 94.44M | Aug 2025 | FLMI vs TAXS |
Best Risk-Adjusted Alternatives to FLMI
FLMI has a PortfoliosLab risk / return rank of 75. There are 43 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 | FLMI vs MYMG | |
| State Street My2026 Municipal Bond ETF | 96 | 8.74M | Sep 2024 | FLMI vs MYMF | |
| iShares Short Maturity Municipal Bond ETF | 95 | 1.38B | Mar 2015 | FLMI vs MEAR | |
| First Trust Ultra Short Duration Municipal ETF | 95 | 230.57M | Nov 2018 | FLMI vs FUMB | |
| Invesco BulletShares 2027 Municipal Bond ETF | 94 | 339.63M | Sep 2019 | FLMI vs BSMR |
Top Performing FLMI Alternatives (YTD)
FLMI is at 2.31% YTD. There are 14 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.96%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Overlay Shares Municipal Bond ETF | 3.96% | 30.60M | Sep 2019 | FLMI vs OVM | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 3.71% | 138.42M | Jun 2013 | FLMI vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 3.33% | 18.90M | Sep 2016 | FLMI vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.33% | 25.30M | Nov 2025 | FLMI vs THYM | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 2.87% | 2.93B | Apr 2011 | FLMI vs HYMB |
Lowest Volatility Alternatives to FLMI
FLMI has 3.09% 1-year volatility. There are 92 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares iBonds Dec 2024 Term Muni Bond ETF | 0.00% | 349.85M | Mar 2018 | FLMI vs IBMM | |
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 27.03M | Sep 2025 | FLMI vs ZMUN | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | 0.71% | 348.98M | Nov 2018 | FLMI vs IBMN | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | FLMI vs AUSM | |
| State Street My2026 Municipal Bond ETF | 0.75% | 8.74M | Sep 2024 | FLMI vs MYMF |
Lowest Drawdown Alternatives to FLMI
FLMI has a 1-year max drawdown of -2.90%. There are 82 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% | 230.57M | Nov 2018 | FLMI vs FUMB | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | -0.25% | 348.98M | Nov 2018 | FLMI vs IBMN | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 294.75M | Sep 2019 | FLMI vs BSMQ | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | FLMI vs MYMG | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 40.29M | Jul 2024 | FLMI vs GUMI |
Other ETFs from Franklin Templeton
The 10 most viewed Franklin Templeton ETFs shown here include LVHI, FLIN, FLKR and span 8 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 | 89 | 11.71% | 4.94B | Jul 2016 | FLMI vs LVHI | |
| Franklin FTSE India ETF | Asia Pacific Equities | 2 | -11.92% | 2.53B | Feb 2018 | FLMI vs FLIN | |
| Franklin FTSE South Korea ETF | Asia Pacific Equities | 96 | 114.41% | 1.06B | Nov 2017 | FLMI vs FLKR | |
| Legg Mason Low Volatility High Dividend ETF | Volatility Hedged Equity, Dividend | 28 | 6.72% | 581.01M | Dec 2015 | FLMI vs LVHD | |
| Franklin International Core Dividend Tilt Index ET... | Foreign Large Cap Equities | 52 | 10.89% | 2.55B | Jun 2016 | FLMI vs DIVI | |
| Franklin FTSE Japan ETF | Japan Equities | 50 | 16.23% | 3.79B | Nov 2017 | FLMI vs FLJP | |
| Franklin Responsibly Sourced Gold ETF | Precious Metals | 31 | 2.43% | 469.03M | Jun 2022 | FLMI vs FGDL | |
| Franklin FTSE China ETF | China Equities | 15 | -6.30% | 272.96M | Nov 2017 | FLMI vs FLCH | |
| Franklin FTSE Japan Hedged ETF | Japan Equities | 80 | 20.31% | 166.02M | Nov 2017 | FLMI vs FLJH | |
| Franklin Bitcoin ETF | Cryptocurrency | 2 | -25.36% | 426.34M | Jan 2024 | FLMI vs EZBC |
Often Compared With FLMI
Investors most often compare FLMI with CGMU, HYD, SHYD. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare FLMI with Any Fund or Stock
Compare FLMI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FLMI with funds that move differently
Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FLMI.
Explore FLMI Diversifiers