JMUB vs. TAXT
JMUB (JPMorgan Municipal ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. JMUB is actively managed, while TAXT is passively managed. Their correlation of 0.88 means they have usually moved in the same direction. JMUB charges 0.18%/yr vs 0.05%/yr for TAXT.
Performance
JMUB vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, JMUB achieves a 0.28% return, which is significantly lower than TAXT's 0.32% return.
JMUB
- 1D
- -0.11%
- 1M
- -1.60%
- 6M
- -0.39%
- YTD
- 0.28%
- 1Y
- 4.03%
- 3Y*
- 3.28%
- 5Y*
- 0.80%
- 10Y*
- —
- ALL TIME*
- 2.86%
TAXT
- 1D
- -0.08%
- 1M
- -1.57%
- 6M
- -0.46%
- YTD
- 0.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.39M | $63.40M | $50.76M | |
| $101.60K | $96.04K | $143.38K |
JMUB vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMUB JPMorgan Municipal ETF | 0.28% | 3.70% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.32% | 3.91% |
Correlation
The correlation between JMUB and TAXT is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.88 |
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Return for Risk
JMUB vs. TAXT — Risk / Return Rank
JMUB
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JMUB vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Municipal ETF (JMUB) 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.
| JMUB | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | — | — |
| Martin ratioReturn relative to average drawdown | 5.81 | — | — |
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Drawdowns
JMUB vs. TAXT - Drawdown Comparison
The maximum JMUB drawdown since its inception was -12.50%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for JMUB and TAXT.
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Drawdown Indicators
| JMUB | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.50% | -2.49% | -10.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.02% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | — | — |
Current DrawdownCurrent decline from peak | -1.64% | -1.72% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -0.52% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | — | — |
Volatility
JMUB vs. TAXT - Volatility Comparison
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Volatility by Period
| JMUB | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 2.57% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 2.57% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.12% | 2.57% | +1.55% |
JMUB vs. TAXT - Expense Ratio Comparison
JMUB 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
JMUB vs. TAXT - Dividend Comparison
JMUB's dividend yield for the trailing twelve months is around 3.65%, more than TAXT's 2.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JMUB JPMorgan Municipal ETF | 3.36% | 3.52% | 3.50% | 3.20% | 2.16% | 1.94% | 2.13% | 3.66% | 0.45% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.86% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMUB and TAXT have a correlation of 0.88, 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 JMUB.
JMUB has the higher dividend yield at 3.36%, compared with 2.86% for TAXT.
They also come from different issuers: JPMorgan and Northern Trust. Their fees differ too: 0.18% for JMUB and 0.05% for TAXT.
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