IBMO vs. TAXT
IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMO tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index while TAXT tracks the ICE Focused Municipal Bond Index. Both are passively managed. Their 0.14 correlation means their historical movements had little consistent relationship. IBMO charges 0.18%/yr vs 0.05%/yr for TAXT.
Performance
IBMO vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, IBMO achieves a 1.22% return, which is significantly higher than TAXT's 0.46% return.
IBMO
- 1D
- -0.04%
- 1M
- 0.16%
- 6M
- 1.09%
- YTD
- 1.22%
- 1Y
- 2.34%
- 3Y*
- 3.01%
- 5Y*
- 0.62%
- 10Y*
- —
- ALL TIME*
- 1.84%
TAXT
- 1D
- 0.14%
- 1M
- -1.43%
- 6M
- -0.38%
- YTD
- 0.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.89M | $1.94M | $1.71M | |
| $96.43K | $96.52K | $143.72K |
IBMO vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 1.22% | 0.84% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.46% | 3.91% |
Correlation
The correlation between IBMO and TAXT is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.14 |
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Return for Risk
IBMO vs. TAXT — Risk / Return Rank
IBMO
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBMO vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and Northern Trust Tax-Exempt Bond ETF (TAXT). 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.
| IBMO | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.41 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.22 | — | — |
| Martin ratioReturn relative to average drawdown | 18.35 | — | — |
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Drawdowns
IBMO vs. TAXT - Drawdown Comparison
The maximum IBMO drawdown since its inception was -14.77%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for IBMO and TAXT.
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Drawdown Indicators
| IBMO | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.77% | -2.49% | -12.28% |
Max Drawdown (1Y)Largest decline over 1 year | -0.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.21% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -8.77% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -1.58% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -0.52% | -1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | — | — |
Volatility
IBMO vs. TAXT - Volatility Comparison
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Volatility by Period
| IBMO | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.72% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.14% | 2.57% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.14% | 2.57% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 2.57% | +1.90% |
IBMO vs. TAXT - Expense Ratio Comparison
IBMO has a 0.18% expense ratio, which is higher than TAXT'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
IBMO vs. TAXT - Dividend Comparison
IBMO's dividend yield for the trailing twelve months is around 2.40%, less than TAXT's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF | 2.40% | 2.37% | 2.15% | 1.65% | 0.89% | 0.62% | 1.03% | 1.01% |
TAXT Northern Trust Tax-Exempt Bond ETF | 3.17% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBMO and TAXT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.18% for IBMO.
TAXT has the higher dividend yield at 3.17%, compared with 2.40% for IBMO.
IBMO tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index, while TAXT tracks ICE Focused Municipal Bond Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.18% for IBMO and 0.05% for TAXT.
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