DJP vs. TAXM
DJP (iPath Bloomberg Commodity Index Total Return ETN) and TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) are both exchange-traded funds - DJP is a Commodities fund tracking the Bloomberg Commodity Index, while TAXM is a Municipal Bonds fund actively managed by BondBloxx. DJP is passively managed, while TAXM is actively managed. Over the past year, DJP returned 40.97% vs 4.10% for TAXM. Their -0.20 correlation means they have often moved in opposite directions in the past. DJP charges 0.70%/yr vs 0.35%/yr for TAXM.
Performance
DJP vs. TAXM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DJP achieves a 25.98% return, which is significantly higher than TAXM's 0.14% return.
DJP
- 1D
- 0.02%
- 1M
- 8.69%
- 6M
- 11.59%
- YTD
- 25.98%
- 1Y
- 40.97%
- 3Y*
- 13.27%
- 5Y*
- 11.22%
- 10Y*
- 7.63%
- ALL TIME*
- -0.16%
TAXM
- 1D
- -0.13%
- 1M
- -1.61%
- 6M
- -0.49%
- YTD
- 0.14%
- 1Y
- 4.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.78M | $2.43M | $3.70M | |
| $158.92K | $254.95K | $177.53K |
DJP vs. TAXM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 25.98% | 9.09% |
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 0.14% | 3.90% |
Correlation
The correlation between DJP and TAXM is -0.27, 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. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | -0.20 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DJP vs. TAXM — Risk / Return Rank
DJP
TAXM
DJP vs. TAXM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) 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.
| DJP | TAXM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.33 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.71 | +0.76 |
| Martin ratioReturn relative to average drawdown | 7.89 | 5.40 | +2.49 |
Loading charts...
Drawdowns
DJP vs. TAXM - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than TAXM's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for DJP and TAXM.
Loading charts...
Drawdown Indicators
| DJP | TAXM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -3.10% | -75.25% |
Max Drawdown (1Y)Largest decline over 1 year | -16.42% | -2.70% | -13.72% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -35.21% | -1.82% | -33.39% |
Average DrawdownAverage peak-to-trough decline | -50.74% | -0.72% | -50.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.13% | 0.85% | +4.28% |
Volatility
DJP vs. TAXM - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 5.94% compared to BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) at 0.99%. This indicates that DJP'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.
Loading charts...
Volatility by Period
| DJP | TAXM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 0.99% | +4.95% |
Volatility (6M)Calculated over the trailing 6-month period | 17.00% | 2.28% | +14.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 2.79% | +16.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 3.49% | +15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 3.49% | +13.60% |
DJP vs. TAXM - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than TAXM's 0.35% expense ratio.
Dividends
DJP vs. TAXM - Dividend Comparison
DJP has not paid dividends to shareholders, while TAXM's dividend yield for the trailing twelve months is around 3.31%.
| Position | TTM | 2025 |
|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% |
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 3.01% | 2.75% |
Frequently Asked Questions
DJP and TAXM have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DJP has higher volatility (5.94%) compared to TAXM (0.99%). In terms of maximum drawdown, DJP dropped -78.35% vs TAXM's -3.10%.
On 1-year performance, DJP leads with 40.97% 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.
Over the 1-year period, DJP has performed better with a 40.97% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAXM is cheaper with a 0.35% expense ratio, compared with 0.70% for DJP.
TAXM has the higher dividend yield at 3.01%, compared with 0.00% for DJP.
DJP is categorized as Commodities, while TAXM is Municipal Bonds. They also come from different issuers: Barclays Capital and BondBloxx. Their fees differ too: 0.70% for DJP and 0.35% for TAXM.
DJP currently has the higher Sharpe Ratio (2.06 vs 1.66), 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.
Find the right allocation for DJP and TAXM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer