LDUR vs. TAXS

Last updated Jun 4, 2026

LDUR (PIMCO Enhanced Low Duration Active ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - LDUR is a Short-Term Bond fund actively managed by PIMCO, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. LDUR is actively managed, while TAXS is passively managed. At a 0.36 correlation, their price movements are largely independent. LDUR charges 0.54%/yr vs 0.05%/yr for TAXS.

Performance

LDUR vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Low Duration Active ETF (LDUR) 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 investments are quite close, with LDUR having a 0.91% return and TAXS slightly higher at 0.93%.

LDUR

• 1D: -0.02%
• 1M: 0.15%
• YTD: 0.91%
• 6M: 1.29%
• 1Y: 4.37%
• 3Y*: 5.11%
• 5Y*: 2.23%
• 10Y*: 2.43%

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)

LDUR vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
LDUR PIMCO Enhanced Low Duration Active ETF	0.91%	2.03%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.93%	1.22%

Correlation

The correlation between LDUR and TAXS is 0.36, 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	0.36

Return for Risk

LDUR vs. TAXS — Risk / Return Rank

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

LDUR

LDUR Risk / Return Rank: 88
LDUR Sharpe Ratio Rank: 85
LDUR Sortino Ratio Rank: 91
LDUR Omega Ratio Rank: 88
LDUR Calmar Ratio Rank: 85
LDUR Martin Ratio Rank: 92

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.

LDUR vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Low Duration Active ETF (LDUR) 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.

	LDUR	TAXS	Difference
Sharpe ratio Return per unit of total volatility	2.83	—	—
Sortino ratio Return per unit of downside risk	4.32	—	—
Omega ratio Gain probability vs. loss probability	1.56	—	—
Calmar ratio Return relative to maximum drawdown	4.70	—	—
Martin ratio Return relative to average drawdown	22.64	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LDUR	TAXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	2.78	-1.91

Drawdowns

LDUR vs. TAXS - Drawdown Comparison

The maximum LDUR drawdown since its inception was -8.68%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for LDUR and TAXS.

Drawdown Indicators

	LDUR	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-8.68%	-0.84%	-7.84%
Max Drawdown (1Y) Largest decline over 1 year	-0.93%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-8.68%	—	—
Current Drawdown Current decline from peak	-0.04%	-0.09%	+0.05%
Average Drawdown Average peak-to-trough decline	-0.85%	-0.24%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	—	—

Volatility

Volatility by Period

	LDUR	TAXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.55%	1.00%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.03%	1.00%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.77%	1.00%	+1.77%

LDUR vs. TAXS - Expense Ratio Comparison

LDUR has a 0.54% expense ratio, which is higher than TAXS's 0.05% expense ratio.

Dividends

LDUR vs. TAXS - Dividend Comparison

LDUR's dividend yield for the trailing twelve months is around 4.35%, more than TAXS's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDUR PIMCO Enhanced Low Duration Active ETF	4.35%	4.60%	4.77%	4.11%	2.22%	0.90%	2.15%	3.14%	2.66%	2.08%	1.85%	2.92%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.83%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LDUR and TAXS in my portfolio?

LDUR and TAXS have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LDUR 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, LDUR or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.54% for LDUR.

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

LDUR has the higher dividend yield at 4.35%, compared with 1.83% for TAXS.

What is the main difference between LDUR and TAXS?

LDUR is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: PIMCO and Northern Trust. Their fees differ too: 0.54% for LDUR and 0.05% for TAXS.