KORP vs. TAXF
KORP (American Century Diversified Corporate Bond ETF) and TAXF (American Century Diversified Municipal Bond ETF) are both exchange-traded funds - KORP is a Corporate Bonds fund actively managed by American Century, while TAXF is a Municipal Bonds fund actively managed by American Century. Both are actively managed. Over the past 5 years, KORP returned 1.79%/yr vs 1.13%/yr for TAXF. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.29% expense ratio.
Performance
KORP vs. TAXF - Performance Comparison
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Returns By Period
In the year-to-date period, KORP achieves a 1.01% return, which is significantly lower than TAXF's 2.22% return.
KORP
- 1D
- 0.07%
- 1M
- 0.91%
- YTD
- 1.01%
- 6M
- 1.14%
- 1Y
- 5.48%
- 3Y*
- 5.98%
- 5Y*
- 1.79%
- 10Y*
- —
TAXF
- 1D
- 0.00%
- 1M
- 1.52%
- YTD
- 2.22%
- 6M
- 2.18%
- 1Y
- 7.39%
- 3Y*
- 3.96%
- 5Y*
- 1.13%
- 10Y*
- —
KORP vs. TAXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | 1.01% | 8.14% | 3.82% | 7.40% | -10.04% | -0.55% | 6.99% | 10.08% | -0.25% |
TAXF American Century Diversified Municipal Bond ETF | 2.22% | 4.30% | 1.74% | 7.33% | -9.64% | 2.72% | 5.55% | 8.75% | 0.60% |
Correlation
The correlation between KORP and TAXF is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.60 |
The correlation between KORP and TAXF shifts across timeframes, from 0.57 (1 year) to 0.69 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
KORP vs. TAXF — Risk / Return Rank
KORP
TAXF
KORP vs. TAXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Corporate Bond ETF (KORP) and American Century Diversified Municipal Bond ETF (TAXF). 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.
| KORP | TAXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.53 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 2.53 | -0.83 |
| Martin ratioReturn relative to average drawdown | 5.54 | 9.09 | -3.55 |
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Drawdowns
KORP vs. TAXF - Drawdown Comparison
The maximum KORP drawdown since its inception was -14.90%, which is greater than TAXF's maximum drawdown of -13.93%. Use the drawdown chart below to compare losses from any high point for KORP and TAXF.
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Drawdown Indicators
| KORP | TAXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.90% | -13.93% | -0.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -2.93% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -5.04% | -5.53% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -14.90% | -13.93% | -0.97% |
Current DrawdownCurrent decline from peak | -0.75% | -0.22% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -3.13% | -0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.81% | +0.18% |
Volatility
KORP vs. TAXF - Volatility Comparison
American Century Diversified Corporate Bond ETF (KORP) has a higher volatility of 1.14% compared to American Century Diversified Municipal Bond ETF (TAXF) at 0.75%. This indicates that KORP's price experiences larger fluctuations and is considered to be riskier than TAXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KORP | TAXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.75% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 2.28% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 3.00% | +1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 4.20% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 4.64% | +0.27% |
KORP vs. TAXF - Expense Ratio Comparison
Both KORP and TAXF have an expense ratio of 0.29%.
Dividends
KORP vs. TAXF - Dividend Comparison
KORP's dividend yield for the trailing twelve months is around 5.09%, more than TAXF's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | 5.09% | 4.98% | 5.08% | 4.42% | 2.89% | 1.86% | 3.22% | 3.20% | 2.97% |
TAXF American Century Diversified Municipal Bond ETF | 3.76% | 3.68% | 3.38% | 2.93% | 2.05% | 1.58% | 2.13% | 2.64% | 0.69% |
Frequently Asked Questions
KORP and TAXF have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORP has higher volatility (1.14%) compared to TAXF (0.75%). In terms of maximum drawdown, KORP dropped -14.90% vs TAXF's -13.93%.
On 5-year performance, KORP leads with 1.79% vs 1.13% for TAXF. Both ETFs have the same 0.29% expense ratio. On volatility, TAXF has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KORP has performed better with a 1.79% return vs 1.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KORP and TAXF have the same expense ratio: 0.29% per year.
KORP has the higher dividend yield at 5.09%, compared with 3.76% for TAXF.
KORP is categorized as Corporate Bonds, while TAXF is Municipal Bonds.
TAXF currently has the higher Sharpe Ratio (2.48 vs 1.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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