INTM vs. TAXS

Last updated Jun 5, 2026

INTM (Invesco Intermediate Municipal ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds. INTM is actively managed, while TAXS is passively managed. At a 0.30 correlation, their price movements are largely independent. INTM charges 0.35%/yr vs 0.05%/yr for TAXS.

Performance

INTM vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Intermediate Municipal ETF (INTM) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INTM achieves a 1.82% return, which is significantly higher than TAXS's 0.99% return.

INTM

• 1D: 0.08%
• 1M: 0.72%
• YTD: 1.82%
• 6M: 2.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: 0.06%
• 1M: 0.59%
• YTD: 0.99%
• 6M: 1.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

INTM vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
INTM Invesco Intermediate Municipal ETF	1.82%	4.25%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.99%	1.22%

Correlation

The correlation between INTM 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

Return for Risk

INTM vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Intermediate Municipal ETF (INTM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	INTM	TAXS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.05	2.85	+0.20

Drawdowns

INTM vs. TAXS - Drawdown Comparison

The maximum INTM drawdown since its inception was -2.65%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for INTM and TAXS.

Drawdown Indicators

	INTM	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-2.65%	-0.84%	-1.81%
Current Drawdown Current decline from peak	-0.54%	-0.03%	-0.51%
Average Drawdown Average peak-to-trough decline	-0.48%	-0.24%	-0.24%

Volatility

Volatility by Period

	INTM	TAXS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	1.00%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.53%	1.00%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	1.00%	+1.53%

INTM vs. TAXS - Expense Ratio Comparison

INTM has a 0.35% expense ratio, which is higher than TAXS's 0.05% expense ratio.

Dividends

INTM vs. TAXS - Dividend Comparison

INTM's dividend yield for the trailing twelve months is around 2.62%, more than TAXS's 1.82% yield.

Position	TTM	2025
INTM Invesco Intermediate Municipal ETF	2.62%	1.15%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.82%	0.74%

Frequently Asked Questions

Can I hold both INTM and TAXS in my portfolio?

INTM 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.

Which ETF is better, INTM or TAXS?

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.

Which ETF is cheaper, INTM or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.35% for INTM.

Which ETF pays a higher dividend yield, INTM or TAXS?

INTM has the higher dividend yield at 2.62%, compared with 1.82% for TAXS.

What is the main difference between INTM and TAXS?

They also come from different issuers: Invesco and Northern Trust. Their fees differ too: 0.35% for INTM and 0.05% for TAXS.