TAFM vs. ENFR
TAFM (AB Tax-Aware Intermediate Municipal ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - TAFM is a Municipal Bonds fund actively managed by AllianceBernstein, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. TAFM is actively managed, while ENFR is passively managed. Over the past year, TAFM returned 6.95% vs 24.84% for ENFR. At a correlation of -0.00, they often move in opposite directions. TAFM charges 0.28%/yr vs 0.35%/yr for ENFR.
Performance
TAFM vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, TAFM achieves a 2.19% return, which is significantly lower than ENFR's 23.07% return.
TAFM
- 1D
- 0.08%
- 1M
- 1.52%
- YTD
- 2.19%
- 6M
- 2.26%
- 1Y
- 6.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENFR
- 1D
- 1.01%
- 1M
- -5.94%
- YTD
- 23.07%
- 6M
- 24.76%
- 1Y
- 24.84%
- 3Y*
- 28.26%
- 5Y*
- 19.69%
- 10Y*
- 11.81%
TAFM vs. ENFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TAFM AB Tax-Aware Intermediate Municipal ETF | 2.19% | 4.21% | 2.54% | 1.51% |
ENFR Alerian Energy Infrastructure ETF | 23.07% | 5.88% | 42.17% | 3.45% |
Correlation
The correlation between TAFM and ENFR is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023 | -0.00 |
The correlation between TAFM and ENFR shifts across timeframes, from -0.14 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TAFM vs. ENFR — Risk / Return Rank
TAFM
ENFR
TAFM vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Intermediate Municipal ETF (TAFM) and Alerian Energy Infrastructure ETF (ENFR). 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.
| TAFM | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.29 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.89 | -0.29 |
| Martin ratioReturn relative to average drawdown | 9.22 | 7.40 | +1.82 |
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Drawdowns
TAFM vs. ENFR - Drawdown Comparison
The maximum TAFM drawdown since its inception was -4.74%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for TAFM and ENFR.
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Drawdown Indicators
| TAFM | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.74% | -68.28% | +63.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -8.64% | +5.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.64% | — |
Current DrawdownCurrent decline from peak | -0.09% | -6.12% | +6.03% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -15.94% | +15.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 3.36% | -2.60% |
Volatility
TAFM vs. ENFR - Volatility Comparison
The current volatility for AB Tax-Aware Intermediate Municipal ETF (TAFM) is 0.70%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 5.42%. This indicates that TAFM experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAFM | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 5.42% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | 11.57% | -9.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 14.82% | -11.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.91% | 19.24% | -14.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 24.68% | -19.77% |
TAFM vs. ENFR - Expense Ratio Comparison
TAFM has a 0.28% expense ratio, which is lower than ENFR's 0.35% expense ratio.
Dividends
TAFM vs. ENFR - Dividend Comparison
TAFM's dividend yield for the trailing twelve months is around 3.63%, less than ENFR's 4.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 4.08% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
TAFM AB Tax-Aware Intermediate Municipal ETF | 3.63% | 3.51% | 3.35% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAFM and ENFR have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENFR has higher volatility (5.42%) compared to TAFM (0.70%). In terms of maximum drawdown, TAFM dropped -4.74% vs ENFR's -68.28%.
On 1-year performance, ENFR leads with 24.84% vs 6.95% for TAFM. On fees, TAFM is cheaper at 0.28% per year. On volatility, TAFM has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ENFR has performed better with a 24.84% return vs 6.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAFM is cheaper with a 0.28% expense ratio, compared with 0.35% for ENFR.
ENFR has the higher dividend yield at 4.08%, compared with 3.63% for TAFM.
TAFM is categorized as Municipal Bonds, while ENFR is Energy Equities. They also come from different issuers: AllianceBernstein and SS&C. Their fees differ too: 0.28% for TAFM and 0.35% for ENFR.
TAFM currently has the higher Sharpe Ratio (2.28 vs 1.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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