FUMB vs. TAXS
FUMB (First Trust Ultra Short Duration Municipal ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds. FUMB is actively managed, while TAXS is passively managed. At a 0.26 correlation, their price movements are largely independent. FUMB charges 0.45%/yr vs 0.05%/yr for TAXS.
Performance
FUMB vs. TAXS - Performance Comparison
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Returns By Period
In the year-to-date period, FUMB achieves a 1.07% return, which is significantly higher than TAXS's 0.93% return.
FUMB
- 1D
- -0.03%
- 1M
- 0.15%
- YTD
- 1.07%
- 6M
- 1.30%
- 1Y
- 2.55%
- 3Y*
- 2.98%
- 5Y*
- 1.96%
- 10Y*
- —
TAXS
- 1D
- 0.06%
- 1M
- 0.38%
- YTD
- 0.93%
- 6M
- 1.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FUMB vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 1.07% | 0.71% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.93% | 1.22% |
Correlation
The correlation between FUMB and TAXS is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025 | 0.26 |
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Return for Risk
FUMB vs. TAXS — Risk / Return Rank
FUMB
TAXS
FUMB vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Ultra Short Duration Municipal ETF (FUMB) 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.
| FUMB | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.76 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 11.70 | — | — |
| Martin ratioReturn relative to average drawdown | 44.37 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FUMB | TAXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.38 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 2.78 | -1.78 |
Drawdowns
FUMB vs. TAXS - Drawdown Comparison
The maximum FUMB drawdown since its inception was -2.68%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for FUMB and TAXS.
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Drawdown Indicators
| FUMB | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -0.84% | -1.84% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.60% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.25% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.09% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.24% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | — | — |
Volatility
FUMB vs. TAXS - Volatility Comparison
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Volatility by Period
| FUMB | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.76% | 1.00% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.16% | 1.00% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.77% | 1.00% | +0.77% |
FUMB vs. TAXS - Expense Ratio Comparison
FUMB has a 0.45% expense ratio, which is higher than TAXS's 0.05% expense ratio.
Dividends
FUMB vs. TAXS - Dividend Comparison
FUMB's dividend yield for the trailing twelve months is around 2.80%, more than TAXS's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 2.80% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.83% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FUMB and TAXS have a correlation of 0.26, 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 0.45% for FUMB.
FUMB has the higher dividend yield at 2.80%, compared with 1.83% for TAXS.
They also come from different issuers: First Trust and Northern Trust. Their fees differ too: 0.45% for FUMB and 0.05% for TAXS.
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