MBND vs. TAXS
MBND (SPDR Nuveen Municipal Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds. MBND is actively managed, while TAXS is passively managed. At a 0.49 correlation, their price movements are largely independent. MBND charges 0.40%/yr vs 0.05%/yr for TAXS.
Performance
MBND vs. TAXS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MBND achieves a 1.19% return, which is significantly higher than TAXS's 0.99% return.
MBND
- 1D
- 0.07%
- 1M
- 0.66%
- YTD
- 1.19%
- 6M
- 1.47%
- 1Y
- 5.23%
- 3Y*
- 3.72%
- 5Y*
- 0.64%
- 10Y*
- —
TAXS
- 1D
- 0.06%
- 1M
- 0.59%
- YTD
- 0.99%
- 6M
- 1.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MBND vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MBND SPDR Nuveen Municipal Bond ETF | 1.19% | 3.42% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.99% | 1.22% |
Correlation
The correlation between MBND and TAXS is 0.49, 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 | 0.49 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MBND vs. TAXS — Risk / Return Rank
MBND
TAXS
MBND vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Municipal Bond ETF (MBND) 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.
| MBND | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | — | — |
| Martin ratioReturn relative to average drawdown | 7.13 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MBND | TAXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 2.85 | -2.63 |
Drawdowns
MBND vs. TAXS - Drawdown Comparison
The maximum MBND drawdown since its inception was -13.18%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for MBND and TAXS.
Loading charts...
Drawdown Indicators
| MBND | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -0.84% | -12.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.18% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -0.03% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -0.24% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | — | — |
Volatility
MBND vs. TAXS - Volatility Comparison
Loading charts...
Volatility by Period
| MBND | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 1.00% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.48% | 1.00% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 1.00% | +2.41% |
MBND vs. TAXS - Expense Ratio Comparison
MBND has a 0.40% expense ratio, which is higher than TAXS's 0.05% expense ratio.
Dividends
MBND vs. TAXS - Dividend Comparison
MBND's dividend yield for the trailing twelve months is around 3.49%, more than TAXS's 1.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MBND SPDR Nuveen Municipal Bond ETF | 3.49% | 3.43% | 2.72% | 2.53% | 1.61% | 1.62% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.82% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MBND and TAXS have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TAXS is cheaper with a 0.05% expense ratio, compared with 0.40% for MBND.
MBND has the higher dividend yield at 3.49%, compared with 1.82% for TAXS.
They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.40% for MBND and 0.05% for TAXS.
Find the right allocation for MBND and TAXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer