IBMM vs. FLMB

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and FLMB (Franklin Liberty Federal Tax-Free Bond ETF) are both Municipal Bonds funds. IBMM is passively managed, while FLMB is actively managed. IBMM charges 0.18%/yr vs 0.30%/yr for FLMB.

Performance

IBMM vs. FLMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Franklin Liberty Federal Tax-Free Bond ETF (FLMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

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

FLMB

• 1D: 0.15%
• 1M: 0.84%
• YTD: 2.04%
• 6M: 2.49%
• 1Y: 8.52%
• 3Y*: 4.31%
• 5Y*: 0.67%
• 10Y*: —

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

IBMM vs. FLMB - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
FLMB Franklin Liberty Federal Tax-Free Bond ETF	1.21%

Return for Risk

IBMM vs. FLMB — Risk / Return Rank

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

FLMB

FLMB Risk / Return Rank: 69
FLMB Sharpe Ratio Rank: 72
FLMB Sortino Ratio Rank: 80
FLMB Omega Ratio Rank: 82
FLMB Calmar Ratio Rank: 54
FLMB Martin Ratio Rank: 55

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.

IBMM vs. FLMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and Franklin Liberty Federal Tax-Free Bond ETF (FLMB). 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.

Sharpe Ratios by Period

	IBMM	FLMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.32	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.42	—

Drawdowns

IBMM vs. FLMB - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum FLMB drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for IBMM and FLMB.

Drawdown Indicators

	IBMM	FLMB	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-17.90%	+17.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.33%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.90%	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	0.00%	-4.17%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.92%	—

Volatility

Volatility by Period

	IBMM	FLMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	3.70%	-3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	5.11%	-5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	5.58%	-5.58%

IBMM vs. FLMB - Expense Ratio Comparison

IBMM has a 0.18% expense ratio, which is lower than FLMB's 0.30% expense ratio.

Dividends

IBMM vs. FLMB - Dividend Comparison

IBMM has not paid dividends to shareholders, while FLMB's dividend yield for the trailing twelve months is around 3.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLMB Franklin Liberty Federal Tax-Free Bond ETF	3.74%	3.86%	3.79%	3.49%	2.80%	1.66%	2.07%	2.40%	2.68%	0.54%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IBMM or FLMB?

On fees, IBMM 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, IBMM or FLMB?

IBMM is cheaper with a 0.18% expense ratio, compared with 0.30% for FLMB.

Which ETF pays a higher dividend yield, IBMM or FLMB?

FLMB has the higher dividend yield at 3.74%, compared with 0.00% for IBMM.

What is the main difference between IBMM and FLMB?

They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.18% for IBMM and 0.30% for FLMB.