FTMA vs. IBMO

Last updated Jun 24, 2026

FTMA (Franklin Massachusetts Municipal Income ETF) and IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) are both Municipal Bonds funds - FTMA tracks the Actively Managed while IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. Both are passively managed. At a 0.05 correlation, their price movements are largely independent. FTMA charges 0.35%/yr vs 0.18%/yr for IBMO.

Performance

FTMA vs. IBMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Massachusetts Municipal Income ETF (FTMA) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMA achieves a 2.28% return, which is significantly higher than IBMO's 1.03% return.

FTMA

• 1D: 0.00%
• 1M: 1.47%
• YTD: 2.28%
• 6M: 2.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMO

• 1D: 0.02%
• 1M: 0.19%
• YTD: 1.03%
• 6M: 1.02%
• 1Y: 2.62%
• 3Y*: 2.80%
• 5Y*: 0.72%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTMA vs. IBMO - Yearly Performance Comparison

	2026 (YTD)	2025
FTMA Franklin Massachusetts Municipal Income ETF	2.28%	0.54%
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	1.03%	0.70%

Correlation

The correlation between FTMA and IBMO is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025	0.05

Return for Risk

FTMA vs. IBMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FTMA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IBMO

IBMO Risk / Return Rank: 89
IBMO Sharpe Ratio Rank: 81
IBMO Sortino Ratio Rank: 89
IBMO Omega Ratio Rank: 86
IBMO Calmar Ratio Rank: 95
IBMO Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTMA vs. IBMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Massachusetts Municipal Income ETF (FTMA) and iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FTMA	IBMO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.39	—
Sortino ratio: Return per unit of downside risk	—	3.83	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	6.95	—
Martin ratio: Return relative to average drawdown	—	20.64	—

Drawdowns

FTMA vs. IBMO - Drawdown Comparison

The maximum FTMA drawdown since its inception was -2.27%, smaller than the maximum IBMO drawdown of -14.77%. Use the drawdown chart below to compare losses from any high point for FTMA and IBMO.

Drawdown Indicators

	FTMA	IBMO	Difference
Max Drawdown Largest peak-to-trough decline	-2.27%	-14.77%	+12.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.86%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.47%	-2.31%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.13%	—

Volatility

Volatility by Period

	FTMA	IBMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	1.10%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	2.14%	+1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	4.50%	-1.11%

FTMA vs. IBMO - Expense Ratio Comparison

FTMA has a 0.35% expense ratio, which is higher than IBMO's 0.18% expense ratio.

Dividends

FTMA vs. IBMO - Dividend Comparison

FTMA's dividend yield for the trailing twelve months is around 1.95%, less than IBMO's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FTMA Franklin Massachusetts Municipal Income ETF	1.95%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	2.39%	2.37%	2.15%	1.65%	0.89%	0.62%	1.03%	1.01%

Frequently Asked Questions

Can I hold both FTMA and IBMO in my portfolio?

FTMA and IBMO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMA or IBMO?

On fees, IBMO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMA or IBMO?

IBMO is cheaper with a 0.18% expense ratio, compared with 0.35% for FTMA.

Which ETF pays a higher dividend yield, FTMA or IBMO?

IBMO has the higher dividend yield at 2.39%, compared with 1.95% for FTMA.

What is the main difference between FTMA and IBMO?

FTMA tracks Actively Managed, while IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.35% for FTMA and 0.18% for IBMO.