TAFM vs. MUB
TAFM (AB Tax-Aware Intermediate Municipal ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds. TAFM is actively managed, while MUB is passively managed. Over the past year, TAFM returned 7.39% vs 6.95% for MUB. A 0.76 correlation means they provide meaningful diversification when combined. TAFM charges 0.28%/yr vs 0.07%/yr for MUB.
Performance
TAFM vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, TAFM achieves a 1.91% return, which is significantly higher than MUB's 1.24% return.
TAFM
- 1D
- 0.00%
- 1M
- 0.81%
- YTD
- 1.91%
- 6M
- 2.26%
- 1Y
- 7.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUB
- 1D
- -0.08%
- 1M
- 0.56%
- YTD
- 1.24%
- 6M
- 1.74%
- 1Y
- 6.95%
- 3Y*
- 3.43%
- 5Y*
- 0.86%
- 10Y*
- 2.00%
TAFM vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TAFM AB Tax-Aware Intermediate Municipal ETF | 1.91% | 4.21% | 2.54% | 1.51% |
MUB iShares National AMT-Free Muni Bond ETF | 1.24% | 3.78% | 1.26% | 0.84% |
Correlation
The correlation between TAFM and MUB is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023 | 0.76 |
The correlation between TAFM and MUB has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.
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Return for Risk
TAFM vs. MUB — Risk / Return Rank
TAFM
MUB
TAFM vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Tax-Aware Intermediate Municipal ETF (TAFM) and iShares National AMT-Free Muni Bond ETF (MUB). 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 | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.50 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.50 | +0.26 |
| Martin ratioReturn relative to average drawdown | 9.84 | 8.85 | +1.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TAFM | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.39 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 0.58 | +0.26 |
Drawdowns
TAFM vs. MUB - Drawdown Comparison
The maximum TAFM drawdown since its inception was -4.74%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for TAFM and MUB.
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Drawdown Indicators
| TAFM | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.74% | -13.68% | +8.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -2.79% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.70% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -0.95% | -2.23% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.79% | -0.04% |
Volatility
TAFM vs. MUB - Volatility Comparison
AB Tax-Aware Intermediate Municipal ETF (TAFM) and iShares National AMT-Free Muni Bond ETF (MUB) have volatilities of 1.00% and 0.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAFM | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.97% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.15% | 2.22% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 2.92% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 4.06% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 4.92% | +0.03% |
TAFM vs. MUB - Expense Ratio Comparison
TAFM has a 0.28% expense ratio, which is higher than MUB's 0.07% expense ratio.
Dividends
TAFM vs. MUB - Dividend Comparison
TAFM's dividend yield for the trailing twelve months is around 3.64%, more than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
TAFM AB Tax-Aware Intermediate Municipal ETF | 3.64% | 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 MUB have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAFM has higher volatility (1.00%) compared to MUB (0.97%). In terms of maximum drawdown, TAFM dropped -4.74% vs MUB's -13.68%.
On 1-year performance, TAFM leads with 7.39% vs 6.95% for MUB. On fees, MUB is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TAFM has performed better with a 7.39% return vs 6.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.28% for TAFM.
TAFM has the higher dividend yield at 3.64%, compared with 3.17% for MUB.
They also come from different issuers: AllianceBernstein and iShares. Their fees differ too: 0.28% for TAFM and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.39 vs 2.31), 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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