NMB vs. TAXI
NMB (Simplify National Muni Bond ETF) and TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) are both Municipal Bonds funds. NMB is actively managed, while TAXI is passively managed. A 0.55 correlation means they provide meaningful diversification when combined. NMB charges 0.52%/yr vs 0.05%/yr for TAXI.
Performance
NMB vs. TAXI - Performance Comparison
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Returns By Period
In the year-to-date period, NMB achieves a 1.90% return, which is significantly higher than TAXI's 0.98% return.
NMB
- 1D
- -0.20%
- 1M
- 2.53%
- YTD
- 1.90%
- 6M
- 1.74%
- 1Y
- 7.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TAXI
- 1D
- -0.08%
- 1M
- 0.89%
- YTD
- 0.98%
- 6M
- 1.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NMB vs. TAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NMB Simplify National Muni Bond ETF | 1.90% | 5.92% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 0.98% | 3.35% |
Correlation
The correlation between NMB and TAXI is 0.55, 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 19, 2025 | 0.55 |
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Return for Risk
NMB vs. TAXI — Risk / Return Rank
NMB
TAXI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NMB vs. TAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify National Muni Bond ETF (NMB) 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.
| NMB | TAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | — | — |
| Martin ratioReturn relative to average drawdown | 2.43 | — | — |
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Drawdowns
NMB vs. TAXI - Drawdown Comparison
The maximum NMB drawdown since its inception was -13.68%, which is greater than TAXI's maximum drawdown of -2.23%. Use the drawdown chart below to compare losses from any high point for NMB and TAXI.
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Drawdown Indicators
| NMB | TAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -2.23% | -11.45% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | — | — |
Current DrawdownCurrent decline from peak | -0.92% | -0.76% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -0.48% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | — | — |
Volatility
NMB vs. TAXI - Volatility Comparison
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Volatility by Period
| NMB | TAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.99% | 1.89% | +6.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.54% | 1.89% | +10.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.54% | 1.89% | +10.65% |
NMB vs. TAXI - Expense Ratio Comparison
NMB has a 0.52% expense ratio, which is higher than TAXI's 0.05% expense ratio.
Dividends
NMB vs. TAXI - Dividend Comparison
NMB's dividend yield for the trailing twelve months is around 5.83%, more than TAXI's 2.00% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
NMB Simplify National Muni Bond ETF | 5.83% | 4.48% | 1.13% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 2.00% | 0.85% | 0.00% |
Frequently Asked Questions
NMB and TAXI have a correlation of 0.55, 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 0.52% for NMB.
NMB has the higher dividend yield at 5.83%, compared with 2.00% for TAXI.
They also come from different issuers: Simplify and Northern Trust. Their fees differ too: 0.52% for NMB and 0.05% for TAXI.
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