TAXI vs. GUNR
TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) and GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) are both exchange-traded funds - TAXI is a Municipal Bonds fund tracking the ICE Intermediate Term Focused Municipal Bond Index, while GUNR is a Natural Resources fund tracking the Morningstar Global Upstream Natural Resources Index. Both are passively managed. At a 0.07 correlation, their price movements are largely independent. TAXI charges 0.05%/yr vs 0.46%/yr for GUNR.
Performance
TAXI vs. GUNR - Performance Comparison
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Returns By Period
In the year-to-date period, TAXI achieves a 0.98% return, which is significantly lower than GUNR's 9.71% return.
TAXI
- 1D
- -0.08%
- 1M
- 0.89%
- YTD
- 0.98%
- 6M
- 1.20%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUNR
- 1D
- -1.68%
- 1M
- -7.63%
- YTD
- 9.71%
- 6M
- 9.10%
- 1Y
- 27.15%
- 3Y*
- 11.55%
- 5Y*
- 8.96%
- 10Y*
- 10.46%
TAXI vs. GUNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 0.98% | 3.35% |
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 9.71% | 12.69% |
Correlation
The correlation between TAXI and GUNR is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.07 |
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Return for Risk
TAXI vs. GUNR — Risk / Return Rank
TAXI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GUNR
TAXI vs. GUNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). 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.
| TAXI | GUNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.64 | — |
| Martin ratioReturn relative to average drawdown | — | 11.45 | — |
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Drawdowns
TAXI vs. GUNR - Drawdown Comparison
The maximum TAXI drawdown since its inception was -2.23%, smaller than the maximum GUNR drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for TAXI and GUNR.
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Drawdown Indicators
| TAXI | GUNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.23% | -45.64% | +43.41% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.31% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.59% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.04% | — |
Current DrawdownCurrent decline from peak | -0.76% | -10.31% | +9.55% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -10.39% | +9.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.38% | — |
Volatility
TAXI vs. GUNR - Volatility Comparison
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Volatility by Period
| TAXI | GUNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.24% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 13.31% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.89% | 15.93% | -14.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.89% | 19.02% | -17.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.89% | 20.37% | -18.48% |
TAXI vs. GUNR - Expense Ratio Comparison
TAXI has a 0.05% expense ratio, which is lower than GUNR's 0.46% expense ratio.
Dividends
TAXI vs. GUNR - Dividend Comparison
TAXI's dividend yield for the trailing twelve months is around 2.00%, less than GUNR's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 2.44% | 2.81% | 3.39% | 3.55% | 4.12% | 3.61% | 2.79% | 3.25% | 3.27% | 2.00% | 1.73% | 4.50% |
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 2.00% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXI and GUNR have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TAXI is cheaper with a 0.05% expense ratio, compared with 0.46% for GUNR.
GUNR has the higher dividend yield at 2.44%, compared with 2.00% for TAXI.
TAXI is categorized as Municipal Bonds, while GUNR is Natural Resources. TAXI tracks ICE Intermediate Term Focused Municipal Bond Index, while GUNR tracks Morningstar Global Upstream Natural Resources Index. Their fees differ too: 0.05% for TAXI and 0.46% for GUNR.
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