MINN vs. TAXT

Last updated Jun 4, 2026

MINN (Mairs & Power Minnesota Municipal Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. MINN is actively managed, while TAXT is passively managed. At a 0.43 correlation, their price movements are largely independent. MINN charges 0.25%/yr vs 0.05%/yr for TAXT.

Performance

MINN vs. TAXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mairs & Power Minnesota Municipal Bond ETF (MINN) and Northern Trust Tax-Exempt Bond ETF (TAXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MINN achieves a 0.35% return, which is significantly lower than TAXT's 1.49% return.

MINN

• 1D: -0.11%
• 1M: 0.30%
• YTD: 0.35%
• 6M: 0.92%
• 1Y: 6.52%
• 3Y*: 3.64%
• 5Y*: -0.31%
• 10Y*: —

TAXT

• 1D: -0.06%
• 1M: 0.67%
• YTD: 1.49%
• 6M: 2.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MINN vs. TAXT - Yearly Performance Comparison

	2026 (YTD)	2025
MINN Mairs & Power Minnesota Municipal Bond ETF	0.35%	4.85%
TAXT Northern Trust Tax-Exempt Bond ETF	1.49%	3.96%

Correlation

The correlation between MINN and TAXT is 0.43, 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	0.43

Return for Risk

MINN vs. TAXT — Risk / Return Rank

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

MINN

MINN Risk / Return Rank: 46
MINN Sharpe Ratio Rank: 43
MINN Sortino Ratio Rank: 47
MINN Omega Ratio Rank: 46
MINN Calmar Ratio Rank: 48
MINN Martin Ratio Rank: 46

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.

MINN vs. TAXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mairs & Power Minnesota Municipal Bond ETF (MINN) and Northern Trust Tax-Exempt Bond ETF (TAXT). 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.

	MINN	TAXT	Difference
Sharpe ratio Return per unit of total volatility	1.51	—	—
Sortino ratio Return per unit of downside risk	2.30	—	—
Omega ratio Gain probability vs. loss probability	1.29	—	—
Calmar ratio Return relative to maximum drawdown	2.32	—	—
Martin ratio Return relative to average drawdown	7.47	—	—
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

	MINN	TAXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	2.80	-2.82

Drawdowns

MINN vs. TAXT - Drawdown Comparison

The maximum MINN drawdown since its inception was -18.37%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for MINN and TAXT.

Drawdown Indicators

	MINN	TAXT	Difference
Max Drawdown Largest peak-to-trough decline	-18.37%	-2.49%	-15.88%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.37%	—	—
Current Drawdown Current decline from peak	-2.60%	-0.58%	-2.02%
Average Drawdown Average peak-to-trough decline	-7.78%	-0.47%	-7.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	MINN	TAXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	2.53%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.09%	2.53%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	2.53%	+2.45%

MINN vs. TAXT - Expense Ratio Comparison

MINN has a 0.25% expense ratio, which is higher than TAXT'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

MINN vs. TAXT - Dividend Comparison

MINN's dividend yield for the trailing twelve months is around 3.00%, more than TAXT's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021
MINN Mairs & Power Minnesota Municipal Bond ETF	3.00%	2.94%	2.65%	1.80%	1.34%	0.64%
TAXT Northern Trust Tax-Exempt Bond ETF	2.55%	1.23%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MINN and TAXT in my portfolio?

MINN and TAXT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MINN or TAXT?

On fees, TAXT 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, MINN or TAXT?

TAXT is cheaper with a 0.05% expense ratio, compared with 0.25% for MINN.

Which ETF pays a higher dividend yield, MINN or TAXT?

MINN has the higher dividend yield at 3.00%, compared with 2.55% for TAXT.

What is the main difference between MINN and TAXT?

They also come from different issuers: Mairs & Power and Northern Trust. Their fees differ too: 0.25% for MINN and 0.05% for TAXT.