TMNS T. Rowe Price Short Municipal Income ETF

ETF

ETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

TMNS — —
Key stats
About

T. Rowe Price Short Municipal Income ETF (TMNS) ETF

No description available.

Exchange
XNAS
Inception
2025-11-19
Has Options
No
Fund profile
holdings as of May 31, 2026SEC filingthrough May 2026flows, SEC filings
Expense ratio
0.18%
prospectus, filed Apr 24, 2026
Assets
$21M
SEC filing, May 31, 2026
Trailing yield
2.93%
paid monthly
Average daily volume
$39K
30 sessions
Holdings
149
top 10 are 22.8%
Listed
Nov 19, 2025
Nasdaq
Closure risk, 12 months
9.7%
low: trading volume, age · model
FrenzyCap ETF score
44
how it is built
Cost71
Liquidity0
Scale0
Diversification93

Moves with. Long Treasuries (23% of its variance, beta 0.11); US large-cap stocks (3% of its variance, beta 0.02). These factors explain 28% of its daily moves over the last year, so most of what drives this fund is something else.

Stated objective. The fund seeks high current income exempt from federal income taxes. (from the fund's prospectus)

All 149 holdingsFlow historyOverlap toolAll Short Muni ETFs

Fund flows
through May 2026SEC filings
May 2026
$0
latest reported month
Latest 3 months
$0
0.0% of assets
Latest 12 months
—
Sep 2025: $0SepOct 2025: $0Nov 2025: +$23M+$23MNovDec 2025: −$1.3M−$1.3MJan 2026: $0JanFeb 2026: $0Mar 2026: $0MarApr 2026: $0May 2026: $0May
View as a table
Net flows of TMNS by month, Sep 2025 to May 2026
MonthNet flow
May 2026$0
Apr 2026$0
Mar 2026$0
Feb 2026$0
Jan 2026$0
Dec 2025−$1.3M
Nov 2025+$23M
Oct 2025$0
Sep 2025$0

Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 9 months ago

Similar funds
FundOverlapFeeAssets1Y
SUBiShares Short-Term National Muni Bond ETF—0.07%$12.3B−1.7%compare
JMSTJPMorgan Ultra-Short Municipal Income ETF—0.18%$7.7B−0.6%compare
SHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETF—0.20%$3.5B−2.7%compare
VTESVanguard Short-Term Tax-Exempt Bond ETF—0.05%$2.4B−2.6%compare
CGSMCapital Group Short Duration Municipal Income ETF—0.25%$1.6B−2.2%compare

The largest other funds in the Short Muni category.

Under the hood
fiscal year to Feb 28, 2026SEC census
Authorized participants
3 active
of 20 with agreements; top 3 did 100%
Created · redeemed
$23M · $1.3M
over the fiscal year
Redemptions in kind
0%
creations 0% in kind
Creation unit
25,000
shares
Securities lending
not authorized

From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.

ETF Profile
holdings as of 2027-02-28
Holdings
149
AUM
$21.2M
Provider
Nport
Inception
2025-11-19
Exchange
XNAS
Data As Of
2027-02-28
Expense Ratio
0.18%
Dividend Yield
2.93%
Distribution
Monthly
Recent distributions
Ex-Date Pay Date Amount Type
2026-09-25 2026-09-29 $0.1520 CD
2026-08-26 2026-08-28 $0.1376 CD
2026-07-28 2026-07-30 $0.1338 CD
2026-06-25 2026-06-29 $0.1407 CD
2026-05-26 2026-05-28 $0.1390 CD
2026-04-27 2026-04-29 $0.1400 CD
Asset Allocation
Top Holdings
top 50 of 149 holdings
Symbol Name Weight % Asset Class Country
— HENNEPIN CO-A 3.32% Debt US
— DALLAS FORT WORTH-A-2 AMT 2.47% Debt US
— UNIV OF NC CHAPEL-A 2.44% Debt US
— PORT OF PORTLAND OR ARPT REV AMT SER 24B 2.38% Debt US
— NY ST HSG FIN-F-2 2.35% Debt US
— BLACK BELT ENERGY GAS AL PROJ REV SER C 2.10% Debt US
— CA CMTY CHOICE AUTH PROJ SER F 2.05% Debt US
— NY ST TRANS DEV FAC TERM FOUR AMT SR A 1.98% Debt US
— NEW YORK ST MTGE AGY 1.88% Debt US
— PORT OF SEATTLE-AMT-A AMT 1.86% Debt US
— IL ST TOLL HWY AUTH SEN REV BONDS SER A 1.74% Debt US
— LOUISA VA INDL DEV-B 1.74% Debt US
— NY ST MTGE AGY-273 1.59% Debt US
— AZ ST IDA EQUITABLE SCH REVOL FUND SER A 1.54% Debt US
— PR COMWLTH PUBLIC IMPT SER A1 1.53% Debt PR
— CLIFTON HGR EDU FIN 1.51% Debt US
— CA STATEWIDE DEV-C-1 1.51% Debt US
— ILLINOIS ST SER A 1.47% Debt US
— ARLINGTON HGR EDU-A 1.43% Debt US
— IN FIN AUTH-D-1-REF 1.35% Debt US
— S E ALABAMA ST GAS SP 1.32% Debt US
— PORT AUTH OF NEW YORK AMT 1.31% Debt US
— TARRANT CULTURAL-C-1 1.29% Debt US
— PENNSYLVANIA-1ST-REF 1.29% Debt US
— MAIN STREET NAT GAS INC REV SER A 1.26% Debt US
— TN ENERGY AQUIST CORP COM REV SER A 1.25% Debt US
— WHITING IN ENVR BP PROD N AMER INC A AMT PUT 1.22% Debt US
— PR SALES TAX FING SALES TAX REV SER A1 1.19% Debt PR
— HENRICO CO ECO AUTH 1.18% Debt US
— WEST VIRGINIA ST HOSP SER B 1.05% Debt US
— NY TRANS FIN AUTH-D-1 1.04% Debt US
— DALLAS FORT WORTH-A-2 AMT 1.02% Debt US
— ENERGY N W WA ELEC REV SER C 0.99% Debt US
— ALACHUA CNTY FL HLTH 0.99% Debt US
— MAIN STREET NAT GAS INC REV SER A 0.99% Debt US
— PORT AUTH OF NEW YORK AMT 0.97% Debt US
— PR SALES TAX FING SALES TAX REV SER A1 0.96% Debt PR
— CHICAGO O'HARE ARPT-D AMT 0.95% Debt US
— PA HSG FIN AGY 0.94% Debt US
— ALEXANDRIA REDEV HSG 0.94% Debt US
— NYC HSG DEV CORP SUST DEV SER A-2 0.94% Debt US
— VA ST HSG DEV AUTH SER E 0.87% Debt US
— ATLANTA URBAN RSDL-B 0.84% Debt US
— PA ECO DEV FIN-REMK AMT 0.83% Debt US
— ILLINOIS ST FIN AUTH UNIV CHICAGO SER B 0.82% Debt US
— HOUSTON ARPT SYS REV AMT 0.81% Debt US
— PR COMWLTH PUBLIC IMPT CABS SER A 0.78% Debt PR
— PUBLIC FIN AUTH-A 0.77% Debt US
— CLIFTON HGR EDU 0.76% Debt US
— SUMMIT CO DEV FIN-A 0.73% Debt US
Non-Equity Breakdown
T. Rowe Price Short Municipal Income ETF · NPORT-P period 2026-05-31 (filed 2026-07-28)
Net assets: $21M · 149 total positions · equity 0.00% · non-equity 99.86%
Non-equity holdings — 149 positions, 99.86% of NAV
Category Weight Value Positions
Municipal 99.86% $21.2M 149
Chart
Seasonality
Month'25'26Avg
Jan--0.41%0.41%
Feb--0.41%0.41%
Mar---1.18%-1.18%
Apr---0.02%-0.02%
May---0.06%-0.06%
Jun--0.16%0.16%
Jul---0.92%-0.92%
Aug--0.13%0.13%
Sep---2.32%-2.32%
Oct--0.06%*0.06%
Nov0.23%--0.23%
Dec0.11%--0.11%
Total0.34%-3.31%-1.49%
* Only 2 year(s) of data available.
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $48.90
SMA 50: $49.42
SMA 200: $50.00
Current: $48.72
EMA 12: $48.75
EMA 26: $48.99
MACD: -0.2415 | Signal: 0.0162
BEARISH
ADX (14): 48.89
STRONG TREND
+DI: 29.18
−DI: 56.70

Momentum Oscillators

RSI (14): 36.63
NEUTRAL
Stoch %K: 34.57
Stoch %D: 34.81
Williams %R: -57.98

Volume & Volatility

BB Upper: $49.57
BB Lower: $48.23
NEUTRAL
OBV: 2,866
Vol SMA 20: 665
Vol ROC: -97.13%
ATR: $0.09
True Range: $0.08
HV 20: 3.7%
HV 30: 3.3%
HV 60: 2.8%

Data Summary

Data Points: 221
Last Updated:
Date Range: 2025-11-20T00:00:00 – 2026-10-09T00:00:00
AI Analysis

Click Frenzy-Pro™ for an AI analysis of this ticker.

Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.

TMNS Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 0.0503
Alpha: -4.10%
Correlation: 0.2936
R-Squared: 8.6%
Stock Volatility: 2.2%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 220
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

TMNS Institutional Ownership (13F)

Latest filings — 2026-06-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

2 filers849 shares$42.05K value
# Filer Shares Value % of Total % of Float Period
1 Royal Bank of Canada Custodian 848 $42.00K 99.88% — 2026-06-30
2 FMR LLC Custodian 1 $50 0.12% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period
Constituent Performance

Click any bar to view the full quote for that stock.

Constituents
Symbol Name Weight % Price 1 Day 1 Week 1 Month