AMJB vs. TAXM

Last updated Aug 1, 2026

AMJB (Alerian MLP Index ETN) and TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) are both exchange-traded funds - AMJB is a Energy Equities fund tracking the Alerian MLP Index, while TAXM is a Municipal Bonds fund actively managed by BondBloxx. AMJB is passively managed, while TAXM is actively managed. Over the past year, AMJB returned 21.11% vs 4.10% for TAXM. Their -0.11 correlation means they have often moved in opposite directions in the past. AMJB charges 0.85%/yr vs 0.35%/yr for TAXM.

Performance

AMJB vs. TAXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alerian MLP Index ETN (AMJB) and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMJB achieves a 24.51% return, which is significantly higher than TAXM's 0.14% return.

AMJB

• 1D: 0.54%
• 1M: 8.13%
• 6M: 14.51%
• YTD: 24.51%
• 1Y: 21.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.31%

TAXM

• 1D: -0.13%
• 1M: -1.61%
• 6M: -0.49%
• YTD: 0.14%
• 1Y: 4.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMJB Alerian MLP Index ETN	$770.06K	$939.64K	$1.10M
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	$158.92K	$254.95K	$177.53K

AMJB vs. TAXM - Yearly Performance Comparison

	2026 (YTD)	2025
AMJB Alerian MLP Index ETN	24.51%	-5.68%
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	0.14%	3.90%

Correlation

The correlation between AMJB and TAXM is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.24
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	-0.11

The correlation between AMJB and TAXM shifts across timeframes, from -0.24 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AMJB vs. TAXM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMJB

AMJB Risk / Return Rank: 47
AMJB Sharpe Ratio Rank: 49
AMJB Sortino Ratio Rank: 50
AMJB Omega Ratio Rank: 45
AMJB Calmar Ratio Rank: 47
AMJB Martin Ratio Rank: 44

TAXM

TAXM Risk / Return Rank: 63
TAXM Sharpe Ratio Rank: 72
TAXM Sortino Ratio Rank: 72
TAXM Omega Ratio Rank: 77
TAXM Calmar Ratio Rank: 48
TAXM Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMJB vs. TAXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP Index ETN (AMJB) and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM). 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.

	AMJB	TAXM	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.66	-0.46
Sortino ratio: Return per unit of downside risk	1.79	2.34	-0.55
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio: Return relative to maximum drawdown	1.68	1.71	-0.03
Martin ratio: Return relative to average drawdown	5.00	5.40	-0.40

AMJB vs. TAXM - Sharpe Ratio Comparison

The current AMJB Sharpe Ratio is 1.20, which is comparable to the TAXM Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of AMJB and TAXM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMJB vs. TAXM - Drawdown Comparison

The maximum AMJB drawdown since its inception was -17.70%, which is greater than TAXM's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for AMJB and TAXM.

Drawdown Indicators

	AMJB	TAXM	Difference
Max Drawdown Largest peak-to-trough decline	-17.70%	-3.10%	-14.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-2.70%	-9.10%
Current Drawdown Current decline from peak	-0.61%	-1.82%	+1.21%
Average Drawdown Average peak-to-trough decline	-5.03%	-0.72%	-4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	0.85%	+3.34%

Volatility

AMJB vs. TAXM - Volatility Comparison

Alerian MLP Index ETN (AMJB) has a higher volatility of 5.38% compared to BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) at 0.99%. This indicates that AMJB's price experiences larger fluctuations and is considered to be riskier than TAXM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMJB	TAXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	0.99%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	2.28%	+10.92%
Volatility (1Y) Calculated over the trailing 1-year period	16.51%	2.79%	+13.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	3.49%	+14.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	3.49%	+14.87%

AMJB vs. TAXM - Expense Ratio Comparison

AMJB has a 0.85% expense ratio, which is higher than TAXM's 0.35% expense ratio.

Dividends

AMJB vs. TAXM - Dividend Comparison

AMJB has not paid dividends to shareholders, while TAXM's dividend yield for the trailing twelve months is around 3.31%.

Position	TTM	2025
AMJB Alerian MLP Index ETN	0.00%	0.00%
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	3.01%	2.75%

Frequently Asked Questions

Can I hold both AMJB and TAXM in my portfolio?

AMJB and TAXM have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMJB or TAXM?

AMJB has higher volatility (5.38%) compared to TAXM (0.99%). In terms of maximum drawdown, AMJB dropped -17.70% vs TAXM's -3.10%.

Which ETF is better, AMJB or TAXM?

On 1-year performance, AMJB leads with 21.11% vs 4.10% for TAXM. On fees, TAXM is cheaper at 0.35% per year. On volatility, TAXM has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMJB or TAXM?

Over the 1-year period, AMJB has performed better with a 21.11% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMJB or TAXM?

TAXM is cheaper with a 0.35% expense ratio, compared with 0.85% for AMJB.

Which ETF pays a higher dividend yield, AMJB or TAXM?

TAXM has the higher dividend yield at 3.01%, compared with 0.00% for AMJB.

What is the main difference between AMJB and TAXM?

AMJB is categorized as Energy Equities, while TAXM is Municipal Bonds. They also come from different issuers: JPMorgan and BondBloxx. Their fees differ too: 0.85% for AMJB and 0.35% for TAXM.

Which has better risk-adjusted returns?

TAXM currently has the higher Sharpe Ratio (1.66 vs 1.20), 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.