IBMP vs. TAXS

Last updated Jun 25, 2026

IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMP tracks the S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index while TAXS tracks the ICE Short Term Focused Municipal Bond Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. IBMP charges 0.18%/yr vs 0.05%/yr for TAXS.

Performance

IBMP vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMP achieves a 1.13% return, which is significantly higher than TAXS's 1.06% return.

IBMP

• 1D: 0.04%
• 1M: 0.29%
• YTD: 1.13%
• 6M: 1.17%
• 1Y: 2.93%
• 3Y*: 2.81%
• 5Y*: 0.66%
• 10Y*: —

TAXS

• 1D: 0.03%
• 1M: 0.65%
• YTD: 1.06%
• 6M: 1.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBMP vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF	1.13%	0.73%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.06%	1.22%

Correlation

The correlation between IBMP and TAXS is 0.30, 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 19, 2025	0.30

Return for Risk

IBMP vs. TAXS — Risk / Return Rank

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

IBMP

IBMP Risk / Return Rank: 90
IBMP Sharpe Ratio Rank: 91
IBMP Sortino Ratio Rank: 94
IBMP Omega Ratio Rank: 93
IBMP Calmar Ratio Rank: 90
IBMP Martin Ratio Rank: 80

TAXS

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

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.

IBMP vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2027 Term Muni Bond ETF (IBMP) 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.

	IBMP	TAXS	Difference
Sharpe ratio: Return per unit of total volatility	2.75	—	—
Sortino ratio: Return per unit of downside risk	4.22	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	4.96	—	—
Martin ratio: Return relative to average drawdown	13.74	—	—

Drawdowns

IBMP vs. TAXS - Drawdown Comparison

The maximum IBMP drawdown since its inception was -15.24%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for IBMP and TAXS.

Drawdown Indicators

	IBMP	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-0.84%	-14.40%
Max Drawdown (1Y) Largest decline over 1 year	-0.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.63%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.00%	—	—
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-2.70%	-0.22%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	—	—

Volatility

Volatility by Period

	IBMP	TAXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.07%	0.99%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.56%	0.99%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	0.99%	+3.99%

IBMP vs. TAXS - Expense Ratio Comparison

IBMP 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

IBMP vs. TAXS - Dividend Comparison

IBMP's dividend yield for the trailing twelve months is around 2.50%, more than TAXS's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF	2.50%	2.47%	2.35%	2.05%	1.26%	0.86%	1.16%	1.06%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.82%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMP and TAXS in my portfolio?

IBMP and TAXS have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBMP 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, IBMP or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.18% for IBMP.

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

IBMP has the higher dividend yield at 2.50%, compared with 1.82% for TAXS.

What is the main difference between IBMP and TAXS?

IBMP tracks S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series 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 IBMP and 0.05% for TAXS.