JPLD vs. TAXS

Last updated Jun 24, 2026

JPLD (JPMorgan Limited Duration Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - JPLD is a Short-Term Bond fund actively managed by JPMorgan, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. JPLD is actively managed, while TAXS is passively managed. At a 0.42 correlation, their price movements are largely independent. JPLD charges 0.24%/yr vs 0.05%/yr for TAXS.

Performance

JPLD vs. TAXS - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with JPLD having a 1.08% return and TAXS slightly lower at 1.03%.

JPLD

• 1D: 0.06%
• 1M: 0.32%
• YTD: 1.08%
• 6M: 1.31%
• 1Y: 4.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: -0.02%
• 1M: 0.62%
• YTD: 1.03%
• 6M: 1.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPLD vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
JPLD JPMorgan Limited Duration Bond ETF	1.08%	2.06%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.03%	1.22%

Correlation

The correlation between JPLD and TAXS is 0.42, 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 19, 2025	0.42

Return for Risk

JPLD vs. TAXS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPLD

JPLD Risk / Return Rank: 89
JPLD Sharpe Ratio Rank: 90
JPLD Sortino Ratio Rank: 93
JPLD Omega Ratio Rank: 92
JPLD Calmar Ratio Rank: 82
JPLD Martin Ratio Rank: 89

TAXS

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPLD vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Limited Duration Bond ETF (JPLD) 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.

	JPLD	TAXS	Difference
Sharpe ratio: Return per unit of total volatility	2.86	—	—
Sortino ratio: Return per unit of downside risk	4.38	—	—
Omega ratio: Gain probability vs. loss probability	1.59	—	—
Calmar ratio: Return relative to maximum drawdown	4.19	—	—
Martin ratio: Return relative to average drawdown	19.07	—	—

Drawdowns

JPLD vs. TAXS - Drawdown Comparison

The maximum JPLD drawdown since its inception was -1.17%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for JPLD and TAXS.

Drawdown Indicators

	JPLD	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-1.17%	-0.84%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.00%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.04%	-0.24%
Average Drawdown Average peak-to-trough decline	-0.15%	-0.22%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	—	—

Volatility

Volatility by Period

	JPLD	TAXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.48%	0.99%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.84%	0.99%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.84%	0.99%	+0.85%

JPLD vs. TAXS - Expense Ratio Comparison

JPLD has a 0.24% 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

JPLD vs. TAXS - Dividend Comparison

JPLD's dividend yield for the trailing twelve months is around 4.21%, more than TAXS's 1.82% yield.

Position	TTM	2025	2024	2023
JPLD JPMorgan Limited Duration Bond ETF	4.21%	4.24%	4.47%	1.83%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.82%	0.74%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPLD and TAXS in my portfolio?

JPLD and TAXS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPLD 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, JPLD or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.24% for JPLD.

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

JPLD has the higher dividend yield at 4.21%, compared with 1.82% for TAXS.

What is the main difference between JPLD and TAXS?

JPLD is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: JPMorgan and Northern Trust. Their fees differ too: 0.24% for JPLD and 0.05% for TAXS.