IBMP vs. TAXS
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
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Returns By Period
The year-to-date returns for both investments are quite close, with IBMP having a 0.89% return and TAXS slightly higher at 0.93%.
IBMP
- 1D
- 0.00%
- 1M
- 0.21%
- YTD
- 0.89%
- 6M
- 1.26%
- 1Y
- 3.04%
- 3Y*
- 2.97%
- 5Y*
- 0.59%
- 10Y*
- —
TAXS
- 1D
- 0.06%
- 1M
- 0.38%
- YTD
- 0.93%
- 6M
- 1.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBMP vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 0.89% | 0.83% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.93% | 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 20, 2025 | 0.30 |
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Return for Risk
IBMP vs. TAXS — Risk / Return Rank
IBMP
TAXS
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.
| IBMP | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.60 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.14 | — | — |
| Martin ratioReturn relative to average drawdown | 14.24 | — | — |
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
| IBMP | TAXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.83 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 2.78 | -2.40 |
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.
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Drawdown Indicators
| IBMP | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.01% | -0.09% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -0.24% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | — | — |
Volatility
IBMP vs. TAXS - Volatility Comparison
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Volatility by Period
| IBMP | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 1.00% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.56% | 1.00% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 1.00% | +4.01% |
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 1.83% 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 | 1.83% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
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.
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 IBMP.
IBMP has the higher dividend yield at 2.50%, compared with 1.83% for 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.
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