MUND vs. TAXS

Last updated Jun 7, 2026

MUND (Northern Trust 2055 Tax-Exempt Distributing Ladder ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds from Northern Trust. MUND is actively managed, while TAXS is passively managed. At a 0.34 correlation, their price movements are largely independent. MUND charges 0.18%/yr vs 0.05%/yr for TAXS.

Performance

MUND vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2055 Tax-Exempt Distributing Ladder ETF (MUND) and Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUND achieves a 1.28% return, which is significantly higher than TAXS's 0.95% return.

MUND

• 1D: -0.09%
• 1M: -0.18%
• YTD: 1.28%
• 6M: 1.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: -0.04%
• 1M: 0.37%
• YTD: 0.95%
• 6M: 1.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUND vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
MUND Northern Trust 2055 Tax-Exempt Distributing Ladder ETF	1.28%	4.34%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.95%	1.22%

Correlation

The correlation between MUND and TAXS is 0.34, 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	0.34

Return for Risk

MUND vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2055 Tax-Exempt Distributing Ladder ETF (MUND) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MUND	TAXS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	2.78	-1.79

Drawdowns

MUND vs. TAXS - Drawdown Comparison

The maximum MUND drawdown since its inception was -4.19%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for MUND and TAXS.

Drawdown Indicators

	MUND	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-4.19%	-0.84%	-3.35%
Current Drawdown Current decline from peak	-1.96%	-0.07%	-1.89%
Average Drawdown Average peak-to-trough decline	-1.88%	-0.23%	-1.65%

Volatility

Volatility by Period

	MUND	TAXS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.29%	1.00%	+6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.29%	1.00%	+6.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.29%	1.00%	+6.29%

MUND vs. TAXS - Expense Ratio Comparison

MUND has a 0.18% expense ratio, which is higher than TAXS'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

MUND vs. TAXS - Dividend Comparison

MUND's dividend yield for the trailing twelve months is around 2.81%, more than TAXS's 1.82% yield.

Position	TTM	2025
MUND Northern Trust 2055 Tax-Exempt Distributing Ladder ETF	2.81%	1.32%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.82%	0.74%

Frequently Asked Questions

Can I hold both MUND and TAXS in my portfolio?

MUND and TAXS have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUND or TAXS?

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.

Which ETF is cheaper, MUND or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.18% for MUND.

Which ETF pays a higher dividend yield, MUND or TAXS?

MUND has the higher dividend yield at 2.81%, compared with 1.82% for TAXS.

What is the main difference between MUND and TAXS?

Their fees differ too: 0.18% for MUND and 0.05% for TAXS.