TAXE vs. AOM
TAXE (T. Rowe Price Intermediate Municipal Income ETF) and AOM (iShares Core Moderate Allocation ETF) are both exchange-traded funds - TAXE is a Municipal Bonds fund actively managed by T. Rowe Price, while AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate. TAXE is actively managed, while AOM is passively managed. Over the past year, TAXE returned 7.37% vs 14.30% for AOM. At a 0.33 correlation, their price movements are largely independent. TAXE charges 0.24%/yr vs 0.25%/yr for AOM.
Performance
TAXE vs. AOM - Performance Comparison
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Returns By Period
In the year-to-date period, TAXE achieves a 1.90% return, which is significantly lower than AOM's 5.23% return.
TAXE
- 1D
- 0.10%
- 1M
- 0.69%
- YTD
- 1.90%
- 6M
- 2.21%
- 1Y
- 7.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AOM
- 1D
- 0.22%
- 1M
- 1.82%
- YTD
- 5.23%
- 6M
- 5.63%
- 1Y
- 14.30%
- 3Y*
- 11.03%
- 5Y*
- 4.85%
- 10Y*
- 6.23%
TAXE vs. AOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TAXE T. Rowe Price Intermediate Municipal Income ETF | 1.90% | 5.78% | 1.55% |
AOM iShares Core Moderate Allocation ETF | 5.23% | 13.28% | 2.02% |
Correlation
The correlation between TAXE and AOM is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | 0.33 |
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Return for Risk
TAXE vs. AOM — Risk / Return Rank
TAXE
AOM
TAXE vs. AOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Intermediate Municipal Income ETF (TAXE) and iShares Core Moderate Allocation ETF (AOM). 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.
| TAXE | AOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.79 | 1.41 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.81 | +0.11 |
| Martin ratioReturn relative to average drawdown | 9.99 | 12.27 | -2.28 |
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
| TAXE | AOM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.31 | 2.20 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.60 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.55 | 0.70 | +0.86 |
Drawdowns
TAXE vs. AOM - Drawdown Comparison
The maximum TAXE drawdown since its inception was -3.72%, smaller than the maximum AOM drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for TAXE and AOM.
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Drawdown Indicators
| TAXE | AOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -19.96% | +16.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -5.11% | +2.58% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.96% | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.24% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -2.70% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 1.17% | -0.43% |
Volatility
TAXE vs. AOM - Volatility Comparison
The current volatility for T. Rowe Price Intermediate Municipal Income ETF (TAXE) is 0.77%, while iShares Core Moderate Allocation ETF (AOM) has a volatility of 2.13%. This indicates that TAXE experiences smaller price fluctuations and is considered to be less risky than AOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAXE | AOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 2.13% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 5.22% | -3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.24% | 6.55% | -4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.15% | 8.14% | -4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.15% | 7.93% | -4.78% |
TAXE vs. AOM - Expense Ratio Comparison
TAXE has a 0.24% expense ratio, which is lower than AOM's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TAXE vs. AOM - Dividend Comparison
TAXE's dividend yield for the trailing twelve months is around 3.56%, more than AOM's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOM iShares Core Moderate Allocation ETF | 2.98% | 2.98% | 3.10% | 2.79% | 2.27% | 1.56% | 2.02% | 2.66% | 2.53% | 3.31% | 2.14% | 1.98% |
TAXE T. Rowe Price Intermediate Municipal Income ETF | 3.56% | 3.46% | 1.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXE and AOM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOM has higher volatility (2.13%) compared to TAXE (0.77%). In terms of maximum drawdown, TAXE dropped -3.72% vs AOM's -19.96%.
On 1-year performance, AOM leads with 14.30% vs 7.37% for TAXE. On fees, TAXE is cheaper at 0.24% per year. On volatility, TAXE has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AOM has performed better with a 14.30% return vs 7.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAXE is cheaper with a 0.24% expense ratio, compared with 0.25% for AOM.
TAXE has the higher dividend yield at 3.56%, compared with 2.98% for AOM.
TAXE is categorized as Municipal Bonds, while AOM is Diversified Portfolio. They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.24% for TAXE and 0.25% for AOM.
TAXE currently has the higher Sharpe Ratio (3.31 vs 2.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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