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. At a 0.29 correlation, their price movements are largely independent. 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 0.89% return, which is significantly lower than TAXT's 1.49% return.
IBMP
- 1D
- 0.00%
- 1M
- 0.21%
- YTD
- 0.89%
- 6M
- 1.26%
- 1Y
- 3.04%
- 3Y*
- 2.97%
- 5Y*
- 0.59%
- 10Y*
- —
TAXT
- 1D
- -0.06%
- 1M
- 0.67%
- YTD
- 1.49%
- 6M
- 2.00%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBMP vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 0.89% | 0.83% |
TAXT Northern Trust Tax-Exempt Bond ETF | 1.49% | 3.96% |
Correlation
The correlation between IBMP and TAXT is 0.29, 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 | 0.29 |
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Return for Risk
IBMP vs. TAXT — Risk / Return Rank
IBMP
TAXT
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.
| IBMP | TAXT | 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 | TAXT | 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 | 2.80 | -2.42 |
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 | -2.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.00% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | -0.58% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -0.47% | -2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | — | — |
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 | 0.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 2.53% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.56% | 2.53% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 2.53% | +2.48% |
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 2.50%, less than TAXT's 2.55% 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% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.55% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBMP and TAXT have a correlation of 0.29, 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 2.55%, compared with 2.50% 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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