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 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 | FLMI vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 4.00B | Oct 2022 | FLMI vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | FLMI vs FMUN | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 126.55M | Aug 2025 | FLMI vs TAXS | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 163.46M | Aug 2025 | FLMI vs TAXI |
Best Risk-Adjusted Alternatives to FLMI
FLMI has a PortfoliosLab risk / return rank of 84. There are 34 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 | 8.64M | Sep 2024 | FLMI vs MYMG | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 245.94M | Nov 2018 | FLMI vs FUMB | |
| State Street My2026 Municipal Bond ETF | 97 | 8.73M | Sep 2024 | FLMI vs MYMF | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | FLMI vs AUSM | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.41B | Mar 2015 | FLMI vs MEAR |
Top Performing FLMI Alternatives (YTD)
FLMI is at 2.50% YTD. There are 25 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.62%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.62% | 143.84M | Jun 2013 | FLMI vs RVNU | |
| Rareview Tax Advantaged Income ETF | 4.52% | 18.13M | Oct 2020 | FLMI vs RTAI | |
| First Trust Flexible Municipal High Income ETF | 3.99% | 20.73M | Sep 2016 | FLMI vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.96% | 25.42M | Nov 2025 | FLMI vs THYM | |
| Overlay Shares Municipal Bond ETF | 3.88% | 30.60M | Sep 2019 | FLMI vs OVM |
Lowest Volatility Alternatives to FLMI
FLMI has 2.93% 1-year volatility. There are 89 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% | 33.31M | Sep 2025 | FLMI vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.71% | 8.73M | Sep 2024 | FLMI vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.71% | 408.07M | Oct 2007 | FLMI vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | FLMI vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.79% | 245.94M | Nov 2018 | FLMI vs FUMB |
Lowest Drawdown Alternatives to FLMI
FLMI has a 1-year max drawdown of -2.90%. There are 80 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% | 245.94M | Nov 2018 | FLMI vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 283.20M | Sep 2019 | FLMI vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | FLMI vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.64M | Sep 2024 | FLMI vs MYMG | |
| State Street My2026 Municipal Bond ETF | -0.38% | 8.73M | Sep 2024 | FLMI vs MYMF |
Other ETFs from Franklin Templeton
The 10 most viewed Franklin Templeton ETFs shown here include LVHI, FLIN, FLKR and span 11 categories. AUM among these funds goes as high as $5B.
Often Compared With FLMI
Investors most often compare FLMI with HYD, CGMU, SHYD. These 20 comparison targets span 5 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