NMB vs. TAXS
NMB (Simplify National Muni Bond ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both Municipal Bonds funds. NMB is actively managed, while TAXS is passively managed. At a 0.46 correlation, their price movements are largely independent. NMB charges 0.52%/yr vs 0.05%/yr for TAXS.
Performance
NMB vs. TAXS - Performance Comparison
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Returns By Period
In the year-to-date period, NMB achieves a 1.19% return, which is significantly higher than TAXS's 0.93% return.
NMB
- 1D
- -0.28%
- 1M
- 1.26%
- YTD
- 1.19%
- 6M
- 0.91%
- 1Y
- 5.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TAXS
- 1D
- 0.06%
- 1M
- 0.38%
- YTD
- 0.93%
- 6M
- 1.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NMB vs. TAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NMB Simplify National Muni Bond ETF | 1.19% | 6.36% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.93% | 1.22% |
Correlation
The correlation between NMB and TAXS is 0.46, 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 | 0.46 |
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Return for Risk
NMB vs. TAXS — Risk / Return Rank
NMB
TAXS
NMB vs. TAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify National Muni Bond ETF (NMB) 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.
| NMB | TAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.14 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | — | — |
| Martin ratioReturn relative to average drawdown | 1.96 | — | — |
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
| NMB | TAXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 2.78 | -2.45 |
Drawdowns
NMB vs. TAXS - Drawdown Comparison
The maximum NMB drawdown since its inception was -13.68%, which is greater than TAXS's maximum drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for NMB and TAXS.
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Drawdown Indicators
| NMB | TAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -0.84% | -12.84% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | -0.09% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -3.36% | -0.24% | -3.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | — | — |
Volatility
NMB vs. TAXS - Volatility Comparison
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Volatility by Period
| NMB | TAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.42% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.13% | 1.00% | +7.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.70% | 1.00% | +11.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.70% | 1.00% | +11.70% |
NMB vs. TAXS - Expense Ratio Comparison
NMB has a 0.52% expense ratio, which is higher than TAXS's 0.05% expense ratio.
Dividends
NMB vs. TAXS - Dividend Comparison
NMB's dividend yield for the trailing twelve months is around 5.87%, more than TAXS's 1.83% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
NMB Simplify National Muni Bond ETF | 5.87% | 4.48% | 1.13% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.83% | 0.74% | 0.00% |
Frequently Asked Questions
NMB and TAXS have a correlation of 0.46, 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 0.52% for NMB.
NMB has the higher dividend yield at 5.87%, compared with 1.83% for TAXS.
They also come from different issuers: Simplify and Northern Trust. Their fees differ too: 0.52% for NMB and 0.05% for TAXS.
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