BKMS vs. TAXI
BKMS (BNY Mellon Municipal Short Duration ETF) and TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) are both Municipal Bonds funds. BKMS is actively managed, while TAXI is passively managed. Their 0.54 correlation means they have sometimes moved together and sometimes differently. BKMS charges 0.35%/yr vs 0.05%/yr for TAXI.
Performance
BKMS vs. TAXI - Performance Comparison
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Returns By Period
BKMS
- 1D
- 0.10%
- 1M
- -0.03%
- 6M
- 0.41%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TAXI
- 1D
- 0.21%
- 1M
- -1.07%
- 6M
- -0.78%
- YTD
- 0.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $790.45K | $878.97K | $1.09M | |
| $933.32K | $747.14K | $887.03K |
BKMS vs. TAXI - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BKMS BNY Mellon Municipal Short Duration ETF | 0.77% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | -0.39% |
Correlation
The correlation between BKMS and TAXI is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026 | 0.54 |
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Return for Risk
BKMS vs. TAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Municipal Short Duration ETF (BKMS) and Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
BKMS vs. TAXI - Drawdown Comparison
The maximum BKMS drawdown since its inception was -0.87%, smaller than the maximum TAXI drawdown of -2.23%. Use the drawdown chart below to compare losses from any high point for BKMS and TAXI.
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Drawdown Indicators
| BKMS | TAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.87% | -2.23% | +1.36% |
Current DrawdownCurrent decline from peak | -0.17% | -1.55% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -0.54% | +0.29% |
Volatility
BKMS vs. TAXI - Volatility Comparison
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Volatility by Period
| BKMS | TAXI | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 1.96% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.30% | 1.96% | -0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.30% | 1.96% | -0.66% |
BKMS vs. TAXI - Expense Ratio Comparison
BKMS has a 0.35% expense ratio, which is higher than TAXI's 0.05% expense ratio.
Dividends
BKMS vs. TAXI - Dividend Comparison
BKMS's dividend yield for the trailing twelve months is around 1.67%, less than TAXI's 2.50% yield.
| Position | TTM | 2025 |
|---|---|---|
BKMS BNY Mellon Municipal Short Duration ETF | 1.67% | 0.00% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 2.50% | 0.85% |
Frequently Asked Questions
BKMS and TAXI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXI is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXI is cheaper with a 0.05% expense ratio, compared with 0.35% for BKMS.
TAXI has the higher dividend yield at 2.50%, compared with 1.67% for BKMS.
They also come from different issuers: BNY Mellon and Northern Trust. Their fees differ too: 0.35% for BKMS and 0.05% for TAXI.
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