JABS vs. TAXS

Last updated Jun 4, 2026

JABS (Janus Henderson Asset-Backed Securities ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - JABS is a Short-Term Bond fund actively managed by Janus Henderson, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. JABS is actively managed, while TAXS is passively managed. At a 0.23 correlation, their price movements are largely independent. JABS charges 0.33%/yr vs 0.05%/yr for TAXS.

Performance

JABS vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Asset-Backed Securities ETF (JABS) 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, JABS achieves a 1.29% return, which is significantly higher than TAXS's 0.93% return.

JABS

• 1D: -0.12%
• 1M: 0.33%
• YTD: 1.29%
• 6M: 1.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: 0.06%
• 1M: 0.38%
• YTD: 0.93%
• 6M: 1.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JABS vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
JABS Janus Henderson Asset-Backed Securities ETF	1.29%	1.87%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.93%	1.22%

Correlation

The correlation between JABS and TAXS is 0.23, 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	0.23

Return for Risk

JABS vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Asset-Backed Securities ETF (JABS) 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

	JABS	TAXS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	2.78	-0.55

Drawdowns

JABS vs. TAXS - Drawdown Comparison

The maximum JABS drawdown since its inception was -0.97%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for JABS and TAXS.

Drawdown Indicators

	JABS	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-0.97%	-0.84%	-0.13%
Current Drawdown Current decline from peak	-0.12%	-0.09%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.18%	-0.24%	+0.06%

Volatility

Volatility by Period

	JABS	TAXS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	1.00%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.00%	1.00%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.00%	1.00%	+1.00%

JABS vs. TAXS - Expense Ratio Comparison

JABS has a 0.33% expense ratio, which is higher than TAXS's 0.05% expense ratio.

Dividends

JABS vs. TAXS - Dividend Comparison

JABS's dividend yield for the trailing twelve months is around 4.19%, more than TAXS's 1.83% yield.

Position	TTM	2025
JABS Janus Henderson Asset-Backed Securities ETF	4.19%	2.19%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.83%	0.74%

Frequently Asked Questions

Can I hold both JABS and TAXS in my portfolio?

JABS and TAXS have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JABS 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, JABS or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.33% for JABS.

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

JABS has the higher dividend yield at 4.19%, compared with 1.83% for TAXS.

What is the main difference between JABS and TAXS?

JABS is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: Janus Henderson and Northern Trust. Their fees differ too: 0.33% for JABS and 0.05% for TAXS.