TAXF vs. TAXT
TAXF (American Century Diversified Municipal Bond ETF) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. TAXF is actively managed, while TAXT is passively managed. Their 0.73 correlation means they have sometimes moved together and sometimes differently. TAXF charges 0.29%/yr vs 0.05%/yr for TAXT.
Performance
TAXF vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, TAXF achieves a 0.84% return, which is significantly higher than TAXT's 0.32% return.
TAXF
- 1D
- -0.12%
- 1M
- -1.76%
- 6M
- -0.01%
- YTD
- 0.84%
- 1Y
- 5.48%
- 3Y*
- 3.54%
- 5Y*
- 0.68%
- 10Y*
- —
- ALL TIME*
- 2.67%
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) |
|---|---|---|---|
| $2.10M | $2.57M | $2.35M | |
| $101.60K | $96.04K | $143.38K |
TAXF vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXF American Century Diversified Municipal Bond ETF | 0.84% | 4.73% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.32% | 3.91% |
Correlation
The correlation between TAXF and TAXT is 0.73, 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 | 0.73 |
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Return for Risk
TAXF vs. TAXT — Risk / Return Rank
TAXF
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TAXF vs. TAXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Municipal Bond ETF (TAXF) 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.
| TAXF | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.43 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | — | — |
| Martin ratioReturn relative to average drawdown | 7.30 | — | — |
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Drawdowns
TAXF vs. TAXT - Drawdown Comparison
The maximum TAXF drawdown since its inception was -13.93%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for TAXF and TAXT.
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Drawdown Indicators
| TAXF | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.93% | -2.49% | -11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.53% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | — | — |
Current DrawdownCurrent decline from peak | -1.80% | -1.72% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -3.09% | -0.52% | -2.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | — | — |
Volatility
TAXF vs. TAXT - Volatility Comparison
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Volatility by Period
| TAXF | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 2.57% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.24% | 2.57% | +1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 2.57% | +2.06% |
TAXF vs. TAXT - Expense Ratio Comparison
TAXF has a 0.29% expense ratio, which is higher than TAXT's 0.05% expense ratio.
Dividends
TAXF vs. TAXT - Dividend Comparison
TAXF's dividend yield for the trailing twelve months is around 3.84%, more than TAXT's 2.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TAXF American Century Diversified Municipal Bond ETF | 3.51% | 3.68% | 3.38% | 2.93% | 2.05% | 1.58% | 2.13% | 2.64% | 0.69% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.86% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXF and TAXT have a correlation of 0.73, 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 TAXF.
TAXF has the higher dividend yield at 3.51%, compared with 2.86% for TAXT.
They also come from different issuers: American Century and Northern Trust. Their fees differ too: 0.29% for TAXF and 0.05% for TAXT.
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