NUMI vs. TAXT
NUMI (Nuveen Municipal Income ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. NUMI is actively managed, while TAXT is passively managed. Their 0.72 correlation means they have sometimes moved together and sometimes differently. NUMI charges 0.29%/yr vs 0.05%/yr for TAXT.
Performance
NUMI vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, NUMI achieves a 0.27% return, which is significantly lower than TAXT's 0.32% return.
NUMI
- 1D
- -0.18%
- 1M
- -1.57%
- 6M
- -0.55%
- YTD
- 0.27%
- 1Y
- 5.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.66%
TAXT
- 1D
- -0.08%
- 1M
- -1.57%
- 6M
- -0.46%
- YTD
- 0.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $143.18K | $168.88K | $126.57K | |
| $101.60K | $96.04K | $143.38K |
NUMI vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NUMI Nuveen Municipal Income ETF | 0.27% | 5.12% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.32% | 3.91% |
Correlation
The correlation between NUMI and TAXT is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.72 |
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Return for Risk
NUMI vs. TAXT — Risk / Return Rank
NUMI
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NUMI vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Income ETF (NUMI) and Northern Trust Tax-Exempt Bond ETF (TAXT). 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.
| NUMI | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.39 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | — | — |
| Martin ratioReturn relative to average drawdown | 6.74 | — | — |
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Drawdowns
NUMI vs. TAXT - Drawdown Comparison
The maximum NUMI drawdown since its inception was -4.72%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for NUMI and TAXT.
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Drawdown Indicators
| NUMI | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.72% | -2.49% | -2.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | — | — |
Current DrawdownCurrent decline from peak | -1.87% | -1.72% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.32% | -0.52% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | — | — |
Volatility
NUMI vs. TAXT - Volatility Comparison
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Volatility by Period
| NUMI | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 2.57% | +0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.23% | 2.57% | +1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.23% | 2.57% | +1.66% |
NUMI vs. TAXT - Expense Ratio Comparison
NUMI has a 0.29% expense ratio, which is higher than TAXT's 0.05% expense ratio.
Dividends
NUMI vs. TAXT - Dividend Comparison
NUMI's dividend yield for the trailing twelve months is around 3.68%, more than TAXT's 2.86% yield.
| Position | TTM | 2025 |
|---|---|---|
NUMI Nuveen Municipal Income ETF | 3.32% | 3.44% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.86% | 1.23% |
Frequently Asked Questions
NUMI and TAXT have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.29% for NUMI.
NUMI has the higher dividend yield at 3.32%, compared with 2.86% for TAXT.
They also come from different issuers: Nuveen and Northern Trust. Their fees differ too: 0.29% for NUMI and 0.05% for TAXT.
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