LODI vs. TAXS

Last updated Jun 5, 2026

LODI (AAM SLC Low Duration Income ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - LODI is a Short-Term Bond fund actively managed by AAM, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. LODI is actively managed, while TAXS is passively managed. At a 0.20 correlation, their price movements are largely independent. LODI charges 0.15%/yr vs 0.05%/yr for TAXS.

Performance

LODI vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM SLC Low Duration Income ETF (LODI) 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, LODI achieves a 1.87% return, which is significantly higher than TAXS's 0.99% return.

LODI

• 1D: -0.00%
• 1M: 0.45%
• YTD: 1.87%
• 6M: 2.30%
• 1Y: 5.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: 0.06%
• 1M: 0.59%
• YTD: 0.99%
• 6M: 1.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LODI vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
LODI AAM SLC Low Duration Income ETF	1.87%	2.08%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.99%	1.22%

Correlation

The correlation between LODI and TAXS is 0.20, 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	0.20

Return for Risk

LODI vs. TAXS — Risk / Return Rank

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

LODI

LODI Risk / Return Rank: 88
LODI Sharpe Ratio Rank: 77
LODI Sortino Ratio Rank: 84
LODI Omega Ratio Rank: 92
LODI Calmar Ratio Rank: 95
LODI Martin Ratio Rank: 90

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.

LODI vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM SLC Low Duration Income ETF (LODI) 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.

	LODI	TAXS	Difference
Sharpe ratio: Return per unit of total volatility	2.44	—	—
Sortino ratio: Return per unit of downside risk	3.69	—	—
Omega ratio: Gain probability vs. loss probability	1.61	—	—
Calmar ratio: Return relative to maximum drawdown	7.82	—	—
Martin ratio: Return relative to average drawdown	20.31	—	—
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

	LODI	TAXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.37	2.85	-0.48

Drawdowns

LODI vs. TAXS - Drawdown Comparison

The maximum LODI drawdown since its inception was -1.01%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for LODI and TAXS.

Drawdown Indicators

	LODI	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-1.01%	-0.84%	-0.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.75%	—	—
Current Drawdown Current decline from peak	-0.04%	-0.03%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.24%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	—	—

Volatility

Volatility by Period

	LODI	TAXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.40%	1.00%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.34%	1.00%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.34%	1.00%	+1.34%

LODI vs. TAXS - Expense Ratio Comparison

LODI has a 0.15% 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

LODI vs. TAXS - Dividend Comparison

LODI's dividend yield for the trailing twelve months is around 4.96%, more than TAXS's 1.82% yield.

Position	TTM	2025	2024
LODI AAM SLC Low Duration Income ETF	4.96%	5.11%	0.38%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.82%	0.74%	0.00%

Frequently Asked Questions

Can I hold both LODI and TAXS in my portfolio?

LODI and TAXS have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LODI 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, LODI or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.15% for LODI.

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

LODI has the higher dividend yield at 4.96%, compared with 1.82% for TAXS.

What is the main difference between LODI and TAXS?

LODI is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: AAM and Northern Trust. Their fees differ too: 0.15% for LODI and 0.05% for TAXS.