FTPA vs. MEAR
FTPA (Franklin Pennsylvania Municipal Income ETF) and MEAR (iShares Short Maturity Municipal Bond ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. FTPA charges 0.35%/yr vs 0.25%/yr for MEAR.
Performance
FTPA vs. MEAR - Performance Comparison
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Returns By Period
In the year-to-date period, FTPA achieves a 2.33% return, which is significantly higher than MEAR's 1.04% return.
FTPA
- 1D
- -0.23%
- 1M
- 0.53%
- YTD
- 2.33%
- 6M
- 2.86%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MEAR
- 1D
- 0.02%
- 1M
- 0.20%
- YTD
- 1.04%
- 6M
- 1.28%
- 1Y
- 3.29%
- 3Y*
- 3.58%
- 5Y*
- 2.42%
- 10Y*
- 1.77%
FTPA vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTPA Franklin Pennsylvania Municipal Income ETF | 2.33% | 0.24% |
MEAR iShares Short Maturity Municipal Bond ETF | 1.04% | 0.44% |
Correlation
The correlation between FTPA and MEAR is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 11, 2025 | 0.28 |
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Return for Risk
FTPA vs. MEAR — Risk / Return Rank
FTPA
MEAR
FTPA vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Pennsylvania Municipal Income ETF (FTPA) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| FTPA | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.86 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.47 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 1.11 | +0.02 |
Drawdowns
FTPA vs. MEAR - Drawdown Comparison
The maximum FTPA drawdown since its inception was -2.96%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for FTPA and MEAR.
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Drawdown Indicators
| FTPA | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.96% | -2.68% | -0.28% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.47% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.86% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -0.23% | -0.02% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -0.19% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.11% | — |
Volatility
FTPA vs. MEAR - Volatility Comparison
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Volatility by Period
| FTPA | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.23% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.61% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 0.86% | +3.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 0.98% | +3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.08% | 1.52% | +2.56% |
FTPA vs. MEAR - Expense Ratio Comparison
FTPA has a 0.35% expense ratio, which is higher than MEAR's 0.25% expense ratio.
Dividends
FTPA vs. MEAR - Dividend Comparison
FTPA's dividend yield for the trailing twelve months is around 2.08%, less than MEAR's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTPA Franklin Pennsylvania Municipal Income ETF | 2.08% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.84% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Frequently Asked Questions
FTPA and MEAR have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MEAR is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MEAR is cheaper with a 0.25% expense ratio, compared with 0.35% for FTPA.
MEAR has the higher dividend yield at 2.84%, compared with 2.08% for FTPA.
They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.35% for FTPA and 0.25% for MEAR.
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