BSSX vs. TAXX
BSSX (Invesco BulletShares 2033 Municipal Bond ETF) and TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) are both Municipal Bonds funds. BSSX is passively managed, while TAXX is actively managed. Over the past year, BSSX returned 6.84% vs 3.56% for TAXX. At a 0.41 correlation, their price movements are largely independent. BSSX charges 0.18%/yr vs 0.35%/yr for TAXX.
Performance
BSSX vs. TAXX - Performance Comparison
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Returns By Period
In the year-to-date period, BSSX achieves a 1.04% return, which is significantly lower than TAXX's 1.23% return.
BSSX
- 1D
- -0.10%
- 1M
- 1.44%
- YTD
- 1.04%
- 6M
- 1.36%
- 1Y
- 6.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TAXX
- 1D
- -0.01%
- 1M
- 0.50%
- YTD
- 1.23%
- 6M
- 1.49%
- 1Y
- 3.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSSX vs. TAXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 1.04% | 3.79% | -0.07% |
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF | 1.23% | 4.52% | 3.36% |
Correlation
The correlation between BSSX and TAXX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2024 | 0.41 |
The correlation between BSSX and TAXX shifts across timeframes, from 0.22 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BSSX vs. TAXX — Risk / Return Rank
BSSX
TAXX
BSSX vs. TAXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Municipal Bond ETF (BSSX) and Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX). 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.
| BSSX | TAXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.52 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 4.04 | -1.95 |
| Martin ratioReturn relative to average drawdown | 6.39 | 12.28 | -5.89 |
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Drawdowns
BSSX vs. TAXX - Drawdown Comparison
The maximum BSSX drawdown since its inception was -8.12%, which is greater than TAXX's maximum drawdown of -0.91%. Use the drawdown chart below to compare losses from any high point for BSSX and TAXX.
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Drawdown Indicators
| BSSX | TAXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.12% | -0.91% | -7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -0.88% | -2.40% |
Current DrawdownCurrent decline from peak | -0.98% | -0.01% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -0.16% | -3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.29% | +0.78% |
Volatility
BSSX vs. TAXX - Volatility Comparison
Invesco BulletShares 2033 Municipal Bond ETF (BSSX) has a higher volatility of 0.93% compared to Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) at 0.31%. This indicates that BSSX's price experiences larger fluctuations and is considered to be riskier than TAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSSX | TAXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.31% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 0.82% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 1.70% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.77% | 1.58% | +6.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.77% | 1.58% | +6.19% |
BSSX vs. TAXX - Expense Ratio Comparison
BSSX has a 0.18% expense ratio, which is lower than TAXX's 0.35% expense ratio.
Dividends
BSSX vs. TAXX - Dividend Comparison
BSSX's dividend yield for the trailing twelve months is around 3.59%, more than TAXX's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BSSX Invesco BulletShares 2033 Municipal Bond ETF | 3.30% | 3.27% | 3.29% | 0.95% |
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF | 3.49% | 3.72% | 2.70% | 0.00% |
Frequently Asked Questions
BSSX and TAXX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSSX has higher volatility (0.93%) compared to TAXX (0.31%). In terms of maximum drawdown, BSSX dropped -8.12% vs TAXX's -0.91%.
On 1-year performance, BSSX leads with 6.84% vs 3.56% for TAXX. On fees, BSSX is cheaper at 0.18% per year. On volatility, TAXX has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BSSX has performed better with a 6.84% return vs 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSSX is cheaper with a 0.18% expense ratio, compared with 0.35% for TAXX.
BSSX has the higher dividend yield at 3.59%, compared with 3.49% for TAXX.
They also come from different issuers: Invesco and BondBloxx. Their fees differ too: 0.18% for BSSX and 0.35% for TAXX.
TAXX currently has the higher Sharpe Ratio (2.11 vs 2.08), 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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