TAFM vs. IBMM

Last updated Jun 4, 2026

TAFM (AB Tax-Aware Intermediate Municipal ETF) and IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) are both Municipal Bonds funds. TAFM is actively managed, while IBMM is passively managed. TAFM charges 0.28%/yr vs 0.18%/yr for IBMM.

Performance

TAFM vs. IBMM - Performance Comparison

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

Returns By Period

TAFM

• 1D: 0.00%
• 1M: 0.81%
• YTD: 1.91%
• 6M: 2.26%
• 1Y: 7.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMM

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

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

TAFM vs. IBMM - Yearly Performance Comparison

	2026 (YTD)
TAFM AB Tax-Aware Intermediate Municipal ETF	0.73%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%

Return for Risk

TAFM vs. IBMM — Risk / Return Rank

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

TAFM

TAFM Risk / Return Rank: 68
TAFM Sharpe Ratio Rank: 71
TAFM Sortino Ratio Rank: 75
TAFM Omega Ratio Rank: 79
TAFM Calmar Ratio Rank: 57
TAFM Martin Ratio Rank: 57

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.

TAFM vs. IBMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Intermediate Municipal ETF (TAFM) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). 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.

	TAFM	IBMM	Difference
Sharpe ratio: Return per unit of total volatility	2.31	—	—
Sortino ratio: Return per unit of downside risk	3.38	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	2.76	—	—
Martin ratio: Return relative to average drawdown	9.84	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TAFM	IBMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	—	—

Drawdowns

TAFM vs. IBMM - Drawdown Comparison

The maximum TAFM drawdown since its inception was -4.74%, which is greater than IBMM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for TAFM and IBMM.

Drawdown Indicators

	TAFM	IBMM	Difference
Max Drawdown Largest peak-to-trough decline	-4.74%	0.00%	-4.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.69%	—	—
Current Drawdown Current decline from peak	-0.36%	0.00%	-0.36%
Average Drawdown Average peak-to-trough decline	-0.95%	0.00%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	—	—

Volatility

Volatility by Period

	TAFM	IBMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	0.00%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	0.00%	+4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	0.00%	+4.95%

TAFM vs. IBMM - Expense Ratio Comparison

TAFM has a 0.28% expense ratio, which is higher than IBMM's 0.18% expense ratio.

Dividends

TAFM vs. IBMM - Dividend Comparison

TAFM's dividend yield for the trailing twelve months is around 3.64%, while IBMM has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%	0.00%
TAFM AB Tax-Aware Intermediate Municipal ETF	3.64%	3.51%	3.35%	0.18%

Frequently Asked Questions

Which ETF is better, TAFM or IBMM?

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, TAFM or IBMM?

IBMM is cheaper with a 0.18% expense ratio, compared with 0.28% for TAFM.

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

TAFM has the higher dividend yield at 3.64%, compared with 0.00% for IBMM.

What is the main difference between TAFM and IBMM?

They also come from different issuers: AllianceBernstein and iShares. Their fees differ too: 0.28% for TAFM and 0.18% for IBMM.