IBMR vs. TAXT
IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMR tracks the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index while TAXT tracks the ICE Focused Municipal Bond Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. IBMR charges 0.18%/yr vs 0.05%/yr for TAXT.
Performance
IBMR vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, IBMR achieves a 0.79% return, which is significantly lower than TAXT's 1.45% return.
IBMR
- 1D
- -0.02%
- 1M
- 0.66%
- YTD
- 0.79%
- 6M
- 0.93%
- 1Y
- 3.45%
- 3Y*
- 3.25%
- 5Y*
- —
- 10Y*
- —
TAXT
- 1D
- -0.13%
- 1M
- 0.99%
- YTD
- 1.45%
- 6M
- 1.56%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBMR vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 0.79% | 0.98% |
TAXT Northern Trust Tax-Exempt Bond ETF | 1.45% | 3.91% |
Correlation
The correlation between IBMR and TAXT is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.62 |
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Return for Risk
IBMR vs. TAXT — Risk / Return Rank
IBMR
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBMR vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) 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.
| IBMR | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.42 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | — | — |
| Martin ratioReturn relative to average drawdown | 5.73 | — | — |
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Drawdowns
IBMR vs. TAXT - Drawdown Comparison
The maximum IBMR drawdown since its inception was -4.83%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for IBMR and TAXT.
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Drawdown Indicators
| IBMR | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -2.49% | -2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.72% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -0.62% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -0.48% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | — | — |
Volatility
IBMR vs. TAXT - Volatility Comparison
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Volatility by Period
| IBMR | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.76% | 2.53% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.04% | 2.53% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.04% | 2.53% | +0.51% |
IBMR vs. TAXT - Expense Ratio Comparison
IBMR 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
IBMR vs. TAXT - Dividend Comparison
IBMR's dividend yield for the trailing twelve months is around 2.55%, which matches TAXT's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 2.55% | 2.55% | 2.53% | 1.27% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.55% | 1.23% | 0.00% | 0.00% |
Frequently Asked Questions
IBMR and TAXT have a correlation of 0.62, 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 IBMR.
IBMR and TAXT have nearly identical dividend yields, around 2.55%.
IBMR tracks S&P AMT-Free Municipal Series Callable-Adjusted 2029 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 IBMR and 0.05% for TAXT.
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