MNBD vs. TAXI
MNBD (ALPS Intermediate Municipal Bond ETF) and TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) are both Municipal Bonds funds. MNBD is actively managed, while TAXI is passively managed. Their 0.70 correlation means they have sometimes moved together and sometimes differently. MNBD charges 0.50%/yr vs 0.05%/yr for TAXI.
Performance
MNBD vs. TAXI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MNBD achieves a 0.65% return, which is significantly higher than TAXI's -0.04% return.
MNBD
- 1D
- 0.19%
- 1M
- -1.28%
- 6M
- -0.33%
- YTD
- 0.65%
- 1Y
- 3.93%
- 3Y*
- 4.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.16%
TAXI
- 1D
- 0.02%
- 1M
- -1.27%
- 6M
- -0.92%
- YTD
- -0.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $162.80K | $123.01K | $162.44K | |
| $829.70K | $728.87K | $911.81K |
MNBD vs. TAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MNBD ALPS Intermediate Municipal Bond ETF | 0.65% | 3.34% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | -0.04% | 3.35% |
Correlation
The correlation between MNBD and TAXI is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.70 |
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
MNBD vs. TAXI — Risk / Return Rank
MNBD
TAXI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MNBD vs. TAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS Intermediate Municipal Bond ETF (MNBD) and Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MNBD | TAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | — | — |
| Martin ratioReturn relative to average drawdown | 4.85 | — | — |
Loading charts...
Drawdowns
MNBD vs. TAXI - Drawdown Comparison
The maximum MNBD drawdown since its inception was -5.89%, which is greater than TAXI's maximum drawdown of -2.23%. Use the drawdown chart below to compare losses from any high point for MNBD and TAXI.
Loading charts...
Drawdown Indicators
| MNBD | TAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.89% | -2.23% | -3.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.22% | — | — |
Current DrawdownCurrent decline from peak | -1.58% | -1.75% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -0.54% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | — | — |
Volatility
MNBD vs. TAXI - Volatility Comparison
Loading charts...
Volatility by Period
| MNBD | TAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 1.95% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.74% | 1.95% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 1.95% | +1.79% |
MNBD vs. TAXI - Expense Ratio Comparison
MNBD has a 0.50% expense ratio, which is higher than TAXI's 0.05% expense ratio.
Dividends
MNBD vs. TAXI - Dividend Comparison
MNBD's dividend yield for the trailing twelve months is around 3.36%, more than TAXI's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MNBD ALPS Intermediate Municipal Bond ETF | 3.36% | 3.32% | 3.83% | 3.44% | 2.40% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 2.51% | 0.85% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MNBD and TAXI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXI is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXI is cheaper with a 0.05% expense ratio, compared with 0.50% for MNBD.
MNBD has the higher dividend yield at 3.36%, compared with 2.51% for TAXI.
They also come from different issuers: ALPS and Northern Trust. Their fees differ too: 0.50% for MNBD and 0.05% for TAXI.
Find the right allocation for MNBD and TAXI
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