MINO vs. TAXT
MINO (PIMCO Municipal Income Opportunities Active Exchange-Traded Fund) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. MINO is actively managed, while TAXT is passively managed. A 0.77 correlation means they provide meaningful diversification when combined. MINO charges 0.39%/yr vs 0.05%/yr for TAXT.
Performance
MINO vs. TAXT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MINO achieves a 1.96% return, which is significantly higher than TAXT's 1.49% return.
MINO
- 1D
- -0.08%
- 1M
- 0.58%
- YTD
- 1.96%
- 6M
- 2.19%
- 1Y
- 7.93%
- 3Y*
- 4.99%
- 5Y*
- —
- 10Y*
- —
TAXT
- 1D
- -0.06%
- 1M
- 0.67%
- YTD
- 1.49%
- 6M
- 2.00%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MINO vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 1.96% | 4.59% |
TAXT Northern Trust Tax-Exempt Bond ETF | 1.49% | 3.96% |
Correlation
The correlation between MINO and TAXT is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025 | 0.77 |
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
MINO vs. TAXT — Risk / Return Rank
MINO
TAXT
MINO vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) 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.
| MINO | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.63 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | — | — |
| Martin ratioReturn relative to average drawdown | 11.84 | — | — |
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
| MINO | TAXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.92 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 2.80 | -2.48 |
Drawdowns
MINO vs. TAXT - Drawdown Comparison
The maximum MINO drawdown since its inception was -15.24%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for MINO and TAXT.
Loading charts...
Drawdown Indicators
| MINO | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.24% | -2.49% | -12.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -0.58% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -0.47% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | — | — |
Volatility
MINO vs. TAXT - Volatility Comparison
Loading charts...
Volatility by Period
| MINO | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.73% | 2.53% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 2.53% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 2.53% | +2.02% |
MINO vs. TAXT - Expense Ratio Comparison
MINO has a 0.39% expense ratio, which is higher than TAXT's 0.05% expense ratio.
Dividends
MINO vs. TAXT - Dividend Comparison
MINO's dividend yield for the trailing twelve months is around 3.89%, more than TAXT's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 3.89% | 3.71% | 3.91% | 3.78% | 2.87% | 0.29% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.55% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MINO and TAXT have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.39% for MINO.
MINO has the higher dividend yield at 3.89%, compared with 2.55% for TAXT.
They also come from different issuers: PIMCO and Northern Trust. Their fees differ too: 0.39% for MINO and 0.05% for TAXT.
Find the right allocation for MINO and TAXT
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