TAXI vs. AMUN

Last updated Jun 24, 2026

TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. TAXI is passively managed, while AMUN is actively managed. At a 0.25 correlation, their price movements are largely independent. TAXI charges 0.05%/yr vs 0.25%/yr for AMUN.

Performance

TAXI vs. AMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and abrdn Ultra Short Municipal Income Active ETF (AMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAXI achieves a 0.98% return, which is significantly lower than AMUN's 1.25% return.

TAXI

• 1D: -0.08%
• 1M: 0.89%
• YTD: 0.98%
• 6M: 1.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMUN

• 1D: 0.04%
• 1M: 0.30%
• YTD: 1.25%
• 6M: 1.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TAXI vs. AMUN - Yearly Performance Comparison

	2026 (YTD)	2025
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF	0.98%	1.18%
AMUN abrdn Ultra Short Municipal Income Active ETF	1.25%	0.14%

Correlation

The correlation between TAXI and AMUN is 0.25, 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 Oct 20, 2025	0.25

Return for Risk

TAXI vs. AMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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

TAXI vs. AMUN - Drawdown Comparison

The maximum TAXI drawdown since its inception was -2.23%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for TAXI and AMUN.

Drawdown Indicators

	TAXI	AMUN	Difference
Max Drawdown Largest peak-to-trough decline	-2.23%	-0.61%	-1.62%
Current Drawdown Current decline from peak	-0.76%	0.00%	-0.76%
Average Drawdown Average peak-to-trough decline	-0.48%	-0.08%	-0.40%

Volatility

Volatility by Period

	TAXI	AMUN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.89%	0.98%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.89%	0.98%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.89%	0.98%	+0.91%

TAXI vs. AMUN - Expense Ratio Comparison

TAXI has a 0.05% expense ratio, which is lower than AMUN'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

TAXI vs. AMUN - Dividend Comparison

TAXI's dividend yield for the trailing twelve months is around 2.00%, more than AMUN's 1.88% yield.

Position	TTM	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	1.88%	0.66%
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF	2.00%	0.85%

Frequently Asked Questions

Can I hold both TAXI and AMUN in my portfolio?

TAXI and AMUN have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TAXI or AMUN?

On fees, TAXI 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, TAXI or AMUN?

TAXI is cheaper with a 0.05% expense ratio, compared with 0.25% for AMUN.

Which ETF pays a higher dividend yield, TAXI or AMUN?

TAXI has the higher dividend yield at 2.00%, compared with 1.88% for AMUN.

What is the main difference between TAXI and AMUN?

They also come from different issuers: Northern Trust and abrdn. Their fees differ too: 0.05% for TAXI and 0.25% for AMUN.