IBMP vs. TAXT
IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMP tracks the S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index while TAXT tracks the ICE Focused Municipal Bond Index. Both are passively managed. Their 0.31 correlation means their historical movements had little consistent relationship. IBMP charges 0.18%/yr vs 0.05%/yr for TAXT.
Performance
IBMP vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, IBMP achieves a 1.40% return, which is significantly higher than TAXT's 0.46% return.
IBMP
- 1D
- 0.17%
- 1M
- 0.19%
- 6M
- 0.95%
- YTD
- 1.40%
- 1Y
- 2.33%
- 3Y*
- 3.13%
- 5Y*
- 0.54%
- 10Y*
- —
- ALL TIME*
- 1.92%
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) |
|---|---|---|---|
| $2.19M | $2.05M | $2.04M | |
| $96.43K | $96.52K | $143.72K |
IBMP vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 1.40% | 0.73% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.46% | 3.91% |
Correlation
The correlation between IBMP and TAXT is 0.31, 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 | 0.31 |
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Return for Risk
IBMP vs. TAXT — Risk / Return Rank
IBMP
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBMP vs. TAXT - 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 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.
| IBMP | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.43 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.95 | — | — |
| Martin ratioReturn relative to average drawdown | 10.86 | — | — |
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Drawdowns
IBMP vs. TAXT - Drawdown Comparison
The maximum IBMP drawdown since its inception was -15.24%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for IBMP and TAXT.
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Drawdown Indicators
| IBMP | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.24% | -2.49% | -12.75% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -9.97% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.58% | +1.58% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -0.52% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | — | — |
Volatility
IBMP vs. TAXT - Volatility Comparison
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Volatility by Period
| IBMP | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.75% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 2.57% | -1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.55% | 2.57% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 2.57% | +2.38% |
IBMP vs. TAXT - Expense Ratio Comparison
IBMP 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
IBMP vs. TAXT - Dividend Comparison
IBMP's dividend yield for the trailing twelve months is around 2.51%, less than TAXT's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 2.51% | 2.47% | 2.35% | 2.05% | 1.26% | 0.86% | 1.16% | 1.06% |
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
IBMP and TAXT have a correlation of 0.31, 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 IBMP.
TAXT has the higher dividend yield at 3.17%, compared with 2.51% for IBMP.
IBMP tracks S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series 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 IBMP and 0.05% for TAXT.
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