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 | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | FLMI vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | FLMI vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | FLMI vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 169.01M | Aug 2025 | FLMI vs TAXI | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | FLMI vs TAXT |
Best Risk-Adjusted Alternatives to FLMI
FLMI has a PortfoliosLab risk / return rank of 75. There are 29 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 My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | FLMI vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | FLMI vs MYMG | |
| Allspring Ultra Short Municipal ETF | 96 | 30.06M | Jul 2025 | FLMI vs AUSM | |
| Goldman Sachs Ultra Short Municipal Income ETF | 96 | 54.13M | Jul 2024 | FLMI vs GUMI | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.36B | Mar 2015 | FLMI vs MEAR |
Top Performing FLMI Alternatives (YTD)
FLMI is at 1.16% YTD. There are 34 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 2.90%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 2.90% | 4.54M | May 2023 | FLMI vs ZTAX | |
| Overlay Shares Municipal Bond ETF | 2.46% | 30.60M | Sep 2019 | FLMI vs OVM | |
| NYLI MacKay Muni Allocation ETF | 2.45% | 28.01M | Dec 2025 | FLMI vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.42% | 142.95M | Jun 2013 | FLMI vs RVNU | |
| T. Rowe Price High Income Municipal ETF | 2.17% | 26.19M | Nov 2025 | FLMI vs THYM |
Lowest Volatility Alternatives to FLMI
FLMI has 2.93% 1-year volatility. There are 87 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% | 34.95M | Sep 2025 | FLMI vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.65% | 8.74M | Sep 2024 | FLMI vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | FLMI vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | FLMI vs AUSM | |
| State Street My2027 Municipal Bond ETF | 0.82% | 8.63M | Sep 2024 | FLMI vs MYMG |
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 -0.23%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.23% | 246.47M | Nov 2018 | FLMI vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | FLMI vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | FLMI vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | FLMI vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | FLMI vs IBMO |
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 7 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