MNBD vs. TAXS
MNBD (ALPS Intermediate Municipal Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds. MNBD is actively managed, while TAXS is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. MNBD charges 0.50%/yr vs 0.05%/yr for TAXS.
Performance
MNBD vs. TAXS - Performance Comparison
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Returns By Period
In the year-to-date period, MNBD achieves a 1.36% return, which is significantly higher than TAXS's 0.99% return.
MNBD
- 1D
- 0.04%
- 1M
- 0.34%
- YTD
- 1.36%
- 6M
- 1.73%
- 1Y
- 6.15%
- 3Y*
- 4.42%
- 5Y*
- —
- 10Y*
- —
TAXS
- 1D
- 0.06%
- 1M
- 0.59%
- YTD
- 0.99%
- 6M
- 1.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MNBD vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MNBD ALPS Intermediate Municipal Bond ETF | 1.36% | 3.28% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.99% | 1.22% |
Correlation
The correlation between MNBD and TAXS is 0.59, 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 | 0.59 |
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Return for Risk
MNBD vs. TAXS — Risk / Return Rank
MNBD
TAXS
MNBD vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS Intermediate Municipal Bond ETF (MNBD) 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.
| MNBD | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.53 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | — | — |
| Martin ratioReturn relative to average drawdown | 8.50 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MNBD | TAXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.20 | 2.85 | -1.65 |
Drawdowns
MNBD vs. TAXS - Drawdown Comparison
The maximum MNBD drawdown since its inception was -5.89%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for MNBD and TAXS.
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Drawdown Indicators
| MNBD | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.89% | -0.84% | -5.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | — | — |
Current DrawdownCurrent decline from peak | -0.88% | -0.03% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -0.24% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | — | — |
Volatility
MNBD vs. TAXS - Volatility Comparison
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Volatility by Period
| MNBD | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | — | — |
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 | 3.77% | 1.00% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 1.00% | +2.77% |
MNBD vs. TAXS - Expense Ratio Comparison
MNBD has a 0.50% expense ratio, which is higher than TAXS's 0.05% expense ratio.
Dividends
MNBD vs. TAXS - Dividend Comparison
MNBD's dividend yield for the trailing twelve months is around 3.32%, more than TAXS's 1.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MNBD ALPS Intermediate Municipal Bond ETF | 3.32% | 3.32% | 3.83% | 3.44% | 2.40% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.82% | 0.74% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MNBD and TAXS have a correlation of 0.59, 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 0.50% for MNBD.
MNBD has the higher dividend yield at 3.32%, compared with 1.82% for TAXS.
They also come from different issuers: ALPS and Northern Trust. Their fees differ too: 0.50% for MNBD and 0.05% for TAXS.
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