TAXF vs. AVIG
TAXF (American Century Diversified Municipal Bond ETF) and AVIG (Avantis Core Fixed Income ETF) are both exchange-traded funds - TAXF is a Municipal Bonds fund actively managed by American Century, while AVIG is a Corporate Bonds fund actively managed by American Century. Both are actively managed. Over the past 5 years, TAXF returned 1.07%/yr vs 0.13%/yr for AVIG. A 0.65 correlation means they provide meaningful diversification when combined. TAXF charges 0.29%/yr vs 0.15%/yr for AVIG.
Performance
TAXF vs. AVIG - Performance Comparison
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Returns By Period
In the year-to-date period, TAXF achieves a 1.96% return, which is significantly higher than AVIG's 0.08% return.
TAXF
- 1D
- -0.01%
- 1M
- 0.82%
- YTD
- 1.96%
- 6M
- 2.23%
- 1Y
- 8.33%
- 3Y*
- 4.23%
- 5Y*
- 1.07%
- 10Y*
- —
AVIG
- 1D
- -0.21%
- 1M
- 0.11%
- YTD
- 0.08%
- 6M
- 0.01%
- 1Y
- 5.39%
- 3Y*
- 4.44%
- 5Y*
- 0.13%
- 10Y*
- —
TAXF vs. AVIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TAXF American Century Diversified Municipal Bond ETF | 1.96% | 4.30% | 1.74% | 7.33% | -9.64% | 2.72% | 2.96% |
AVIG Avantis Core Fixed Income ETF | 0.08% | 7.98% | 1.55% | 6.41% | -13.94% | -2.15% | 0.96% |
Correlation
The correlation between TAXF and AVIG is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020 | 0.65 |
The correlation between TAXF and AVIG shifts across timeframes, from 0.55 (1 year) to 0.70 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TAXF vs. AVIG — Risk / Return Rank
TAXF
AVIG
TAXF vs. AVIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Municipal Bond ETF (TAXF) and Avantis Core Fixed Income ETF (AVIG). 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.
| TAXF | AVIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.24 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 1.92 | +0.94 |
| Martin ratioReturn relative to average drawdown | 10.30 | 5.85 | +4.45 |
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
| TAXF | AVIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 1.40 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.02 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | -0.02 | +0.64 |
Drawdowns
TAXF vs. AVIG - Drawdown Comparison
The maximum TAXF drawdown since its inception was -13.93%, smaller than the maximum AVIG drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for TAXF and AVIG.
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Drawdown Indicators
| TAXF | AVIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.93% | -19.64% | +5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.82% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.53% | -6.03% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -13.93% | -19.47% | +5.54% |
Current DrawdownCurrent decline from peak | -0.48% | -1.66% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -7.75% | +4.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.92% | -0.11% |
Volatility
TAXF vs. AVIG - Volatility Comparison
The current volatility for American Century Diversified Municipal Bond ETF (TAXF) is 0.99%, while Avantis Core Fixed Income ETF (AVIG) has a volatility of 1.32%. This indicates that TAXF experiences smaller price fluctuations and is considered to be less risky than AVIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAXF | AVIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.32% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 2.85% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.05% | 3.85% | -0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.20% | 6.23% | -2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 6.01% | -1.36% |
TAXF vs. AVIG - Expense Ratio Comparison
TAXF has a 0.29% expense ratio, which is higher than AVIG's 0.15% expense ratio.
Dividends
TAXF vs. AVIG - Dividend Comparison
TAXF's dividend yield for the trailing twelve months is around 3.47%, less than AVIG's 4.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AVIG Avantis Core Fixed Income ETF | 4.04% | 4.36% | 4.66% | 4.06% | 2.53% | 1.12% | 0.22% | 0.00% | 0.00% |
TAXF American Century Diversified Municipal Bond ETF | 3.47% | 3.68% | 3.38% | 2.93% | 2.05% | 1.58% | 2.13% | 2.64% | 0.69% |
Frequently Asked Questions
TAXF and AVIG have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVIG has higher volatility (1.32%) compared to TAXF (0.99%). In terms of maximum drawdown, TAXF dropped -13.93% vs AVIG's -19.64%.
On 5-year performance, TAXF leads with 1.07% vs 0.13% for AVIG. On fees, AVIG is cheaper at 0.15% per year. On volatility, TAXF has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TAXF has performed better with a 1.07% return vs 0.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVIG is cheaper with a 0.15% expense ratio, compared with 0.29% for TAXF.
AVIG has the higher dividend yield at 4.04%, compared with 3.47% for TAXF.
TAXF is categorized as Municipal Bonds, while AVIG is Corporate Bonds. Their fees differ too: 0.29% for TAXF and 0.15% for AVIG.
TAXF currently has the higher Sharpe Ratio (2.74 vs 1.40), 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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