PUSH vs. TAXT
PUSH (PGIM Ultra Short Municipal Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. PUSH is actively managed, while TAXT is passively managed. Their 0.23 correlation means their historical movements had little consistent relationship. PUSH charges 0.15%/yr vs 0.05%/yr for TAXT.
Performance
PUSH vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, PUSH achieves a 1.58% return, which is significantly higher than TAXT's 0.46% return.
PUSH
- 1D
- 0.02%
- 1M
- 0.04%
- 6M
- 1.00%
- YTD
- 1.58%
- 1Y
- 3.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.58%
TAXT
- 1D
- 0.14%
- 1M
- -1.43%
- 6M
- -0.38%
- YTD
- 0.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.12M | $1.04M | $958.85K | |
| $96.43K | $96.52K | $143.72K |
PUSH vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PUSH PGIM Ultra Short Municipal Bond ETF | 1.58% | 1.14% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.46% | 3.91% |
Correlation
The correlation between PUSH and TAXT is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.23 |
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Return for Risk
PUSH vs. TAXT — Risk / Return Rank
PUSH
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PUSH vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Ultra Short Municipal Bond ETF (PUSH) 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.
| PUSH | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.55 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.15 | — | — |
| Martin ratioReturn relative to average drawdown | 15.15 | — | — |
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Drawdowns
PUSH vs. TAXT - Drawdown Comparison
The maximum PUSH drawdown since its inception was -0.85%, smaller than the maximum TAXT drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for PUSH and TAXT.
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Drawdown Indicators
| PUSH | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.85% | -2.49% | +1.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.50% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -1.58% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -0.52% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | — | — |
Volatility
PUSH vs. TAXT - Volatility Comparison
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Volatility by Period
| PUSH | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 2.57% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.27% | 2.57% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.27% | 2.57% | -1.30% |
PUSH vs. TAXT - Expense Ratio Comparison
PUSH has a 0.15% expense ratio, which is higher than TAXT's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PUSH vs. TAXT - Dividend Comparison
PUSH's dividend yield for the trailing twelve months is around 3.17%, which matches TAXT's 3.17% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
PUSH PGIM Ultra Short Municipal Bond ETF | 3.17% | 3.45% | 1.86% |
TAXT Northern Trust Tax-Exempt Bond ETF | 3.17% | 1.23% | 0.00% |
Frequently Asked Questions
PUSH and TAXT have a correlation of 0.23, 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 0.15% for PUSH.
PUSH and TAXT have nearly identical dividend yields, around 3.17%.
They also come from different issuers: PGIM and Northern Trust. Their fees differ too: 0.15% for PUSH and 0.05% for TAXT.
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