BSMQ vs. TAXS
BSMQ (Invesco BulletShares 2026 Municipal Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds - BSMQ tracks the Invesco BulletShares Municipal Bond 2026 Index while TAXS tracks the ICE Short Term Focused Municipal Bond Index. Both are passively managed. At a 0.09 correlation, their price movements are largely independent. BSMQ charges 0.18%/yr vs 0.05%/yr for TAXS.
Performance
BSMQ vs. TAXS - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with BSMQ having a 1.14% return and TAXS slightly higher at 1.16%.
BSMQ
- 1D
- 0.08%
- 1M
- 0.23%
- 6M
- 1.07%
- YTD
- 1.14%
- 1Y
- 2.85%
- 3Y*
- 2.83%
- 5Y*
- 0.27%
- 10Y*
- —
TAXS
- 1D
- 0.03%
- 1M
- 0.15%
- 6M
- 0.85%
- YTD
- 1.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMQ vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 1.14% | 1.44% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.16% | 1.22% |
Correlation
The correlation between BSMQ and TAXS is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.09 |
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Return for Risk
BSMQ vs. TAXS — Risk / Return Rank
BSMQ
TAXS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSMQ vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2026 Municipal Bond ETF (BSMQ) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS). 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.
| BSMQ | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 9.67 | — | — |
| Martin ratioReturn relative to average drawdown | 25.72 | — | — |
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Drawdowns
BSMQ vs. TAXS - Drawdown Comparison
The maximum BSMQ drawdown since its inception was -13.18%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for BSMQ and TAXS.
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Drawdown Indicators
| BSMQ | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -0.84% | -12.34% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -11.50% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.07% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -0.21% | -3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | — | — |
Volatility
BSMQ vs. TAXS - Volatility Comparison
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Volatility by Period
| BSMQ | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 0.98% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.66% | 0.98% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.75% | 0.98% | +3.77% |
BSMQ vs. TAXS - Expense Ratio Comparison
BSMQ has a 0.18% expense ratio, which is higher than TAXS's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSMQ vs. TAXS - Dividend Comparison
BSMQ's dividend yield for the trailing twelve months is around 2.75%, more than TAXS's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMQ Invesco BulletShares 2026 Municipal Bond ETF | 2.75% | 2.74% | 2.75% | 2.47% | 1.60% | 1.14% | 1.57% | 0.44% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 2.03% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSMQ and TAXS have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXS is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXS is cheaper with a 0.05% expense ratio, compared with 0.18% for BSMQ.
BSMQ has the higher dividend yield at 2.75%, compared with 2.03% for TAXS.
BSMQ tracks Invesco BulletShares Municipal Bond 2026 Index, while TAXS tracks ICE Short Term Focused Municipal Bond Index. They also come from different issuers: Invesco and Northern Trust. Their fees differ too: 0.18% for BSMQ and 0.05% for TAXS.
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