DFSD vs. TAXS
DFSD (Dimensional Short-Duration Fixed Income ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - DFSD is a Short-Term Bond fund actively managed by Dimensional, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. DFSD is actively managed, while TAXS is passively managed. Their 0.49 correlation means their historical movements had little consistent relationship. DFSD charges 0.16%/yr vs 0.05%/yr for TAXS.
Performance
DFSD vs. TAXS - Performance Comparison
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Returns By Period
In the year-to-date period, DFSD achieves a 0.79% return, which is significantly lower than TAXS's 0.84% return.
DFSD
- 1D
- -0.06%
- 1M
- -0.23%
- 6M
- 0.35%
- YTD
- 0.79%
- 1Y
- 2.80%
- 3Y*
- 5.18%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.47%
TAXS
- 1D
- 0.00%
- 1M
- -0.36%
- 6M
- 0.30%
- YTD
- 0.84%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.91M | $26.60M | $25.77M | |
| $619.80K | $883.25K | $948.95K |
DFSD vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFSD Dimensional Short-Duration Fixed Income ETF | 0.79% | 1.90% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.84% | 1.22% |
Correlation
The correlation between DFSD and TAXS is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.49 |
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Return for Risk
DFSD vs. TAXS — Risk / Return Rank
DFSD
TAXS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DFSD vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Short-Duration Fixed Income ETF (DFSD) 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.
| DFSD | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | — | — |
| Martin ratioReturn relative to average drawdown | 8.33 | — | — |
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Drawdowns
DFSD vs. TAXS - Drawdown Comparison
The maximum DFSD drawdown since its inception was -8.45%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for DFSD and TAXS.
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Drawdown Indicators
| DFSD | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.45% | -0.84% | -7.61% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.47% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -0.39% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -2.01% | -0.22% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | — | — |
Volatility
DFSD vs. TAXS - Volatility Comparison
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Volatility by Period
| DFSD | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.59% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 1.03% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.75% | 1.03% | +1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.75% | 1.03% | +1.72% |
DFSD vs. TAXS - Expense Ratio Comparison
DFSD has a 0.16% 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
DFSD vs. TAXS - Dividend Comparison
DFSD's dividend yield for the trailing twelve months is around 4.59%, more than TAXS's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFSD Dimensional Short-Duration Fixed Income ETF | 4.59% | 4.12% | 4.81% | 3.89% | 2.12% | 0.11% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 2.04% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFSD and TAXS have a correlation of 0.49, 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 0.16% for DFSD.
DFSD has the higher dividend yield at 4.59%, compared with 2.04% for TAXS.
DFSD is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: Dimensional and Northern Trust. Their fees differ too: 0.16% for DFSD and 0.05% for TAXS.
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