FTNJ vs. TAXS

Last updated Aug 2, 2026

FTNJ (Franklin New Jersey Municipal Income ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds - FTNJ tracks the Actively Managed while TAXS tracks the ICE Short Term Focused Municipal Bond Index. Both are passively managed. Their 0.56 correlation means they have sometimes moved together and sometimes differently. FTNJ charges 0.35%/yr vs 0.05%/yr for TAXS.

Performance

FTNJ vs. TAXS - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FTNJ having a 0.82% return and TAXS slightly higher at 0.84%.

FTNJ

• 1D: 0.12%
• 1M: -1.70%
• 6M: 0.36%
• YTD: 0.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

TAXS

• 1D: 0.00%
• 1M: -0.36%
• 6M: 0.30%
• YTD: 0.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTNJ Franklin New Jersey Municipal Income ETF	$1.38M	$1.09M	$908.42K
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	$619.80K	$883.25K	$948.95K

FTNJ vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
FTNJ Franklin New Jersey Municipal Income ETF	0.82%	0.34%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.84%	1.00%

Correlation

The correlation between FTNJ and TAXS is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025	0.56

Return for Risk

FTNJ vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin New Jersey Municipal Income ETF (FTNJ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

FTNJ vs. TAXS - Drawdown Comparison

The maximum FTNJ drawdown since its inception was -2.72%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for FTNJ and TAXS.

Drawdown Indicators

	FTNJ	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-2.72%	-0.84%	-1.88%
Current Drawdown Current decline from peak	-1.70%	-0.39%	-1.31%
Average Drawdown Average peak-to-trough decline	-0.58%	-0.22%	-0.36%

Volatility

Volatility by Period

	FTNJ	TAXS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	1.03%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	1.03%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	1.03%	+2.22%

FTNJ vs. TAXS - Expense Ratio Comparison

FTNJ has a 0.35% expense ratio, which is higher than TAXS's 0.05% expense ratio.

Dividends

FTNJ vs. TAXS - Dividend Comparison

FTNJ's dividend yield for the trailing twelve months is around 2.30%, more than TAXS's 2.04% yield.

Position	TTM	2025
FTNJ Franklin New Jersey Municipal Income ETF	2.30%	0.54%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	2.04%	0.74%

Frequently Asked Questions

Can I hold both FTNJ and TAXS in my portfolio?

FTNJ and TAXS have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTNJ 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, FTNJ or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.35% for FTNJ.

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

FTNJ has the higher dividend yield at 2.30%, compared with 2.04% for TAXS.

What is the main difference between FTNJ and TAXS?

FTNJ tracks Actively Managed, while TAXS tracks ICE Short Term Focused Municipal Bond Index. They also come from different issuers: Franklin Templeton and Northern Trust. Their fees differ too: 0.35% for FTNJ and 0.05% for TAXS.