IBMN vs. TAXS
IBMN (iShares iBonds Dec 2025 Term Muni Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMN tracks the S&P AMT-Free Municipal Series Dec 2025 Index while TAXS tracks the ICE Short Term Focused Municipal Bond Index. Both are passively managed. At a 0.15 correlation, their price movements are largely independent. IBMN charges 0.18%/yr vs 0.05%/yr for TAXS.
Performance
IBMN vs. TAXS - Performance Comparison
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Returns By Period
IBMN
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.20%
- 3Y*
- 2.44%
- 5Y*
- 0.47%
- 10Y*
- —
TAXS
- 1D
- 0.06%
- 1M
- 0.38%
- YTD
- 0.93%
- 6M
- 1.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBMN vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 0.00% | 0.70% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.93% | 1.22% |
Correlation
The correlation between IBMN and TAXS is 0.15, 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 | 0.15 |
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Return for Risk
IBMN vs. TAXS — Risk / Return Rank
IBMN
TAXS
IBMN vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Muni Bond ETF (IBMN) 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.
| IBMN | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.66 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.02 | — | — |
| Martin ratioReturn relative to average drawdown | 24.21 | — | — |
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
| IBMN | TAXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 2.78 | -2.19 |
Drawdowns
IBMN vs. TAXS - Drawdown Comparison
The maximum IBMN drawdown since its inception was -12.40%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for IBMN and TAXS.
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Drawdown Indicators
| IBMN | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.40% | -0.84% | -11.56% |
Max Drawdown (1Y)Largest decline over 1 year | -0.25% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.10% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.36% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.09% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -0.24% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | — | — |
Volatility
IBMN vs. TAXS - Volatility Comparison
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Volatility by Period
| IBMN | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.50% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.71% | 1.00% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.80% | 1.00% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.89% | 1.00% | +2.89% |
IBMN vs. TAXS - Expense Ratio Comparison
IBMN has a 0.18% 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
IBMN vs. TAXS - Dividend Comparison
IBMN's dividend yield for the trailing twelve months is around 1.14%, less than TAXS's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBMN iShares iBonds Dec 2025 Term Muni Bond ETF | 1.14% | 2.03% | 2.03% | 1.72% | 0.97% | 0.70% | 1.11% | 1.65% | 0.23% |
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
IBMN and TAXS have a correlation of 0.15, 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 0.18% for IBMN.
TAXS has the higher dividend yield at 1.83%, compared with 1.14% for IBMN.
IBMN tracks S&P AMT-Free Municipal Series Dec 2025 Index, while TAXS tracks ICE Short Term Focused Municipal Bond Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.18% for IBMN and 0.05% for TAXS.
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