PRSD vs. TAXS

Last updated Jul 4, 2026

PRSD (State Street Short Duration IG Public & Private Credit ETF) and TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) are both exchange-traded funds - PRSD is a Short-Term Bond fund actively managed by State Street, while TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index. PRSD is actively managed, while TAXS is passively managed. At a 0.40 correlation, their price movements are largely independent. PRSD charges 0.45%/yr vs 0.05%/yr for TAXS.

Performance

PRSD vs. TAXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Short Duration IG Public & Private Credit ETF (PRSD) 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, PRSD achieves a 1.71% return, which is significantly higher than TAXS's 1.20% return.

PRSD

• 1D: 0.20%
• 1M: 0.37%
• 6M: 1.65%
• YTD: 1.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TAXS

• 1D: 0.07%
• 1M: 0.26%
• 6M: 1.12%
• YTD: 1.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRSD vs. TAXS - Yearly Performance Comparison

	2026 (YTD)	2025
PRSD State Street Short Duration IG Public & Private Credit ETF	1.71%	1.13%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.20%	0.75%

Correlation

The correlation between PRSD and TAXS is 0.40, 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 Sep 10, 2025	0.40

Return for Risk

PRSD vs. TAXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Short Duration IG Public & Private Credit ETF (PRSD) 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.

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.

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

Drawdowns

PRSD vs. TAXS - Drawdown Comparison

The maximum PRSD drawdown since its inception was -0.73%, smaller than the maximum TAXS drawdown of -0.84%. Use the drawdown chart below to compare losses from any high point for PRSD and TAXS.

Drawdown Indicators

	PRSD	TAXS	Difference
Max Drawdown Largest peak-to-trough decline	-0.73%	-0.84%	+0.11%
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.11%	-0.22%	+0.11%

Volatility

Volatility by Period

	PRSD	TAXS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.63%	0.98%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.63%	0.98%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.63%	0.98%	+0.65%

PRSD vs. TAXS - Expense Ratio Comparison

PRSD has a 0.45% expense ratio, which is higher than TAXS's 0.05% expense ratio.

Dividends

PRSD vs. TAXS - Dividend Comparison

PRSD's dividend yield for the trailing twelve months is around 3.31%, more than TAXS's 2.03% yield.

Position	TTM	2025
PRSD State Street Short Duration IG Public & Private Credit ETF	3.31%	1.22%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	2.03%	0.74%

Frequently Asked Questions

Can I hold both PRSD and TAXS in my portfolio?

PRSD and TAXS have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PRSD 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, PRSD or TAXS?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.45% for PRSD.

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

PRSD has the higher dividend yield at 3.31%, compared with 2.03% for TAXS.

What is the main difference between PRSD and TAXS?

PRSD is categorized as Short-Term Bond, while TAXS is Municipal Bonds. They also come from different issuers: State Street and Northern Trust. Their fees differ too: 0.45% for PRSD and 0.05% for TAXS.