HYSA vs. TAXM

Last updated Jul 17, 2026

HYSA (Bondbloxx USD High Yield Bond Sector Rotation ETF) and TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) are both exchange-traded funds - HYSA is a High Yield Bonds fund actively managed by BondBloxx, while TAXM is a Municipal Bonds fund actively managed by BondBloxx. Both are actively managed. Over the past year, HYSA returned 5.33% vs 6.02% for TAXM. At a 0.31 correlation, their price movements are largely independent. HYSA charges 0.55%/yr vs 0.35%/yr for TAXM.

Performance

HYSA vs. TAXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYSA achieves a 1.69% return, which is significantly higher than TAXM's 1.10% return.

HYSA

• 1D: -0.13%
• 1M: -0.02%
• 6M: 1.32%
• YTD: 1.69%
• 1Y: 5.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXM

• 1D: -0.12%
• 1M: -0.24%
• 6M: 0.58%
• YTD: 1.10%
• 1Y: 6.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYSA vs. TAXM - Yearly Performance Comparison

	2026 (YTD)	2025
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	1.69%	6.41%
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	1.10%	3.90%

Correlation

The correlation between HYSA and TAXM is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	0.31

Return for Risk

HYSA vs. TAXM — Risk / Return Rank

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

HYSA

HYSA Risk / Return Rank: 40
HYSA Sharpe Ratio Rank: 38
HYSA Sortino Ratio Rank: 37
HYSA Omega Ratio Rank: 34
HYSA Calmar Ratio Rank: 40
HYSA Martin Ratio Rank: 50

TAXM

TAXM Risk / Return Rank: 75
TAXM Sharpe Ratio Rank: 87
TAXM Sortino Ratio Rank: 89
TAXM Omega Ratio Rank: 91
TAXM Calmar Ratio Rank: 55
TAXM Martin Ratio Rank: 55

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.

HYSA vs. TAXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) 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.

	HYSA	TAXM	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.28	-1.16
Sortino ratio: Return per unit of downside risk	1.66	3.33	-1.67
Omega ratio: Gain probability vs. loss probability	1.20	1.47	-0.27
Calmar ratio: Return relative to maximum drawdown	1.70	2.24	-0.54
Martin ratio: Return relative to average drawdown	6.78	7.66	-0.88

HYSA vs. TAXM - Sharpe Ratio Comparison

The current HYSA Sharpe Ratio is 1.12, which is lower than the TAXM Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of HYSA and TAXM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYSA vs. TAXM - Drawdown Comparison

The maximum HYSA drawdown since its inception was -4.90%, which is greater than TAXM's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for HYSA and TAXM.

Drawdown Indicators

	HYSA	TAXM	Difference
Max Drawdown Largest peak-to-trough decline	-4.90%	-3.10%	-1.80%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-2.70%	-0.45%
Current Drawdown Current decline from peak	-0.19%	-0.88%	+0.69%
Average Drawdown Average peak-to-trough decline	-0.67%	-0.70%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.79%	0.00%

Volatility

HYSA vs. TAXM - Volatility Comparison

Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) has a higher volatility of 1.21% compared to BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) at 0.57%. This indicates that HYSA'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.

Volatility by Period

	HYSA	TAXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	0.57%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	3.62%	2.11%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	4.78%	2.66%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	3.45%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.01%	3.45%	+2.56%

HYSA vs. TAXM - Expense Ratio Comparison

HYSA has a 0.55% expense ratio, which is higher than TAXM's 0.35% expense ratio.

Dividends

HYSA vs. TAXM - Dividend Comparison

HYSA's dividend yield for the trailing twelve months is around 6.71%, more than TAXM's 3.28% yield.

Position	TTM	2025	2024	2023
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	6.71%	6.70%	6.99%	2.65%
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	3.28%	2.75%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYSA and TAXM in my portfolio?

HYSA and TAXM have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYSA or TAXM?

HYSA has higher volatility (1.21%) compared to TAXM (0.57%). In terms of maximum drawdown, HYSA dropped -4.90% vs TAXM's -3.10%.

Which ETF is better, HYSA or TAXM?

On 1-year performance, TAXM leads with 6.02% vs 5.33% for HYSA. On fees, TAXM is cheaper at 0.35% per year. On volatility, TAXM has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYSA or TAXM?

Over the 1-year period, TAXM has performed better with a 6.02% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYSA or TAXM?

TAXM is cheaper with a 0.35% expense ratio, compared with 0.55% for HYSA.

Which ETF pays a higher dividend yield, HYSA or TAXM?

HYSA has the higher dividend yield at 6.71%, compared with 3.28% for TAXM.

What is the main difference between HYSA and TAXM?

HYSA is categorized as High Yield Bonds, while TAXM is Municipal Bonds. Their fees differ too: 0.55% for HYSA and 0.35% for TAXM.

Which has better risk-adjusted returns?

TAXM currently has the higher Sharpe Ratio (2.28 vs 1.12), 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.