IBMS vs. TAXS
IBMS (iShares iBonds Dec 2030 Term Muni Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds - IBMS tracks the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2030 Index while TAXS tracks the ICE Short Term Focused Municipal Bond Index. Both are passively managed. Their 0.62 correlation means they have sometimes moved together and sometimes differently. IBMS charges 0.18%/yr vs 0.05%/yr for TAXS.
Performance
IBMS vs. TAXS - Performance Comparison
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Returns By Period
In the year-to-date period, IBMS achieves a -0.28% return, which is significantly lower than TAXS's 0.84% return.
IBMS
- 1D
- -0.03%
- 1M
- -0.85%
- 6M
- -1.10%
- YTD
- -0.28%
- 1Y
- 1.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.70%
TAXS
- 1D
- 0.00%
- 1M
- -0.36%
- 6M
- 0.30%
- YTD
- 0.84%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.34M | $1.43M | $1.57M | |
| $619.80K | $883.25K | $948.95K |
IBMS vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF | -0.28% | 1.74% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.84% | 1.22% |
Correlation
The correlation between IBMS and TAXS is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.62 |
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Return for Risk
IBMS vs. TAXS — Risk / Return Rank
IBMS
TAXS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBMS vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) 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.
| IBMS | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.23 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | — | — |
| Martin ratioReturn relative to average drawdown | 2.30 | — | — |
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Drawdowns
IBMS vs. TAXS - Drawdown Comparison
The maximum IBMS drawdown since its inception was -3.01%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for IBMS and TAXS.
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Drawdown Indicators
| IBMS | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.01% | -0.84% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.25% | — | — |
Current DrawdownCurrent decline from peak | -1.79% | -0.39% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -0.22% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | — | — |
Volatility
IBMS vs. TAXS - Volatility Comparison
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Volatility by Period
| IBMS | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.47% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 1.03% | +1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 1.03% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.99% | 1.03% | +1.96% |
IBMS vs. TAXS - Expense Ratio Comparison
IBMS 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
IBMS vs. TAXS - Dividend Comparison
IBMS's dividend yield for the trailing twelve months is around 2.52%, more than TAXS's 2.04% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBMS iShares iBonds Dec 2030 Term Muni Bond ETF | 2.29% | 2.49% | 1.38% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 2.04% | 0.74% | 0.00% |
Frequently Asked Questions
IBMS and TAXS 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, 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 IBMS.
IBMS has the higher dividend yield at 2.29%, compared with 2.04% for TAXS.
IBMS tracks S&P AMT-Free Municipal Series Callable-Adjusted Dec 2030 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 IBMS and 0.05% for TAXS.
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