NBSD vs. TAXS

Last updated Jun 4, 2026

NBSD (Neuberger Berman Short Duration Income ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - NBSD is a Short-Term Bond fund actively managed by Neuberger Berman, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. NBSD is actively managed, while TAXS is passively managed. At a 0.41 correlation, their price movements are largely independent. NBSD charges 0.35%/yr vs 0.05%/yr for TAXS.

Performance

NBSD vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Short Duration Income ETF (NBSD) 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, NBSD achieves a 0.83% return, which is significantly lower than TAXS's 0.93% return.

NBSD

• 1D: -0.04%
• 1M: 0.20%
• YTD: 0.83%
• 6M: 1.27%
• 1Y: 4.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: 0.06%
• 1M: 0.38%
• YTD: 0.93%
• 6M: 1.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBSD vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
NBSD Neuberger Berman Short Duration Income ETF	0.83%	2.08%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.93%	1.22%

Correlation

The correlation between NBSD and TAXS is 0.41, 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	0.41

Return for Risk

NBSD vs. TAXS — Risk / Return Rank

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

NBSD

NBSD Risk / Return Rank: 90
NBSD Sharpe Ratio Rank: 91
NBSD Sortino Ratio Rank: 95
NBSD Omega Ratio Rank: 95
NBSD Calmar Ratio Rank: 79
NBSD Martin Ratio Rank: 90

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.

NBSD vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Short Duration Income ETF (NBSD) 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.

	NBSD	TAXS	Difference
Sharpe ratio: Return per unit of total volatility	3.24	—	—
Sortino ratio: Return per unit of downside risk	5.32	—	—
Omega ratio: Gain probability vs. loss probability	1.71	—	—
Calmar ratio: Return relative to maximum drawdown	4.00	—	—
Martin ratio: Return relative to average drawdown	20.74	—	—
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

	NBSD	TAXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.05	2.78	-0.73

Drawdowns

NBSD vs. TAXS - Drawdown Comparison

The maximum NBSD drawdown since its inception was -2.63%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for NBSD and TAXS.

Drawdown Indicators

	NBSD	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-2.63%	-0.84%	-1.79%
Max Drawdown (1Y) Largest decline over 1 year	-1.19%	—	—
Current Drawdown Current decline from peak	-0.14%	-0.09%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.24%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	—	—

Volatility

Volatility by Period

	NBSD	TAXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.47%	1.00%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	1.00%	+1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.78%	1.00%	+1.78%

NBSD vs. TAXS - Expense Ratio Comparison

NBSD has a 0.35% expense ratio, which is higher than TAXS's 0.05% expense ratio.

Dividends

NBSD vs. TAXS - Dividend Comparison

NBSD's dividend yield for the trailing twelve months is around 4.81%, more than TAXS's 1.83% yield.

Position	TTM	2025	2024
NBSD Neuberger Berman Short Duration Income ETF	4.81%	5.06%	2.96%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.83%	0.74%	0.00%

Frequently Asked Questions

Can I hold both NBSD and TAXS in my portfolio?

NBSD and TAXS have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBSD 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, NBSD or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.35% for NBSD.

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

NBSD has the higher dividend yield at 4.81%, compared with 1.83% for TAXS.

What is the main difference between NBSD and TAXS?

NBSD is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: Neuberger Berman and Northern Trust. Their fees differ too: 0.35% for NBSD and 0.05% for TAXS.