EVSD vs. TAXS

Last updated Jun 4, 2026

EVSD (Eaton Vance Short Duration Income ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - EVSD is a Short-Term Bond fund actively managed by Eaton Vance, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. EVSD is actively managed, while TAXS is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. EVSD charges 0.24%/yr vs 0.05%/yr for TAXS.

Performance

EVSD vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Short Duration Income ETF (EVSD) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVSD achieves a 0.77% return, which is significantly lower than TAXS's 0.93% return.

EVSD

• 1D: -0.08%
• 1M: 0.32%
• YTD: 0.77%
• 6M: 1.16%
• 1Y: 4.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: 0.06%
• 1M: 0.38%
• YTD: 0.93%
• 6M: 1.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EVSD vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
EVSD Eaton Vance Short Duration Income ETF	0.77%	2.13%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.93%	1.22%

Correlation

The correlation between EVSD and TAXS is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	0.51

Return for Risk

EVSD vs. TAXS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EVSD

EVSD Risk / Return Rank: 87
EVSD Sharpe Ratio Rank: 90
EVSD Sortino Ratio Rank: 94
EVSD Omega Ratio Rank: 93
EVSD Calmar Ratio Rank: 76
EVSD Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVSD vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Income ETF (EVSD) 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.

	EVSD	TAXS	Difference
Sharpe ratio: Return per unit of total volatility	3.16	—	—
Sortino ratio: Return per unit of downside risk	5.08	—	—
Omega ratio: Gain probability vs. loss probability	1.67	—	—
Calmar ratio: Return relative to maximum drawdown	3.86	—	—
Martin ratio: Return relative to average drawdown	16.16	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EVSD	TAXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.03	2.78	+0.25

Drawdowns

EVSD vs. TAXS - Drawdown Comparison

The maximum EVSD drawdown since its inception was -1.26%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for EVSD and TAXS.

Drawdown Indicators

	EVSD	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-1.26%	-0.84%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-1.26%	—	—
Current Drawdown Current decline from peak	-0.17%	-0.09%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.24%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	—	—

Volatility

Volatility by Period

	EVSD	TAXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	1.00%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.94%	1.00%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.94%	1.00%	+0.94%

EVSD vs. TAXS - Expense Ratio Comparison

EVSD has a 0.24% 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

EVSD vs. TAXS - Dividend Comparison

EVSD's dividend yield for the trailing twelve months is around 4.62%, more than TAXS's 1.83% yield.

Position	TTM	2025	2024
EVSD Eaton Vance Short Duration Income ETF	4.62%	4.64%	2.91%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.83%	0.74%	0.00%

Frequently Asked Questions

Can I hold both EVSD and TAXS in my portfolio?

EVSD and TAXS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVSD or TAXS?

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.

Which ETF is cheaper, EVSD or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.24% for EVSD.

Which ETF pays a higher dividend yield, EVSD or TAXS?

EVSD has the higher dividend yield at 4.62%, compared with 1.83% for TAXS.

What is the main difference between EVSD and TAXS?

EVSD is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: Eaton Vance and Northern Trust. Their fees differ too: 0.24% for EVSD and 0.05% for TAXS.