TAXI vs. SKOR
TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) and SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) are both exchange-traded funds - TAXI is a Municipal Bonds fund tracking the ICE Intermediate Term Focused Municipal Bond Index, while SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index. Both are passively managed. A 0.57 correlation means they provide meaningful diversification when combined. TAXI charges 0.05%/yr vs 0.22%/yr for SKOR.
Performance
TAXI vs. SKOR - Performance Comparison
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Returns By Period
In the year-to-date period, TAXI achieves a 1.00% return, which is significantly higher than SKOR's 0.45% return.
TAXI
- 1D
- 0.06%
- 1M
- 0.52%
- YTD
- 1.00%
- 6M
- 1.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SKOR
- 1D
- 0.11%
- 1M
- 0.25%
- YTD
- 0.45%
- 6M
- 0.78%
- 1Y
- 5.01%
- 3Y*
- 5.94%
- 5Y*
- 1.81%
- 10Y*
- 2.88%
TAXI vs. SKOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF | 1.00% | 3.35% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.45% | 2.45% |
Correlation
The correlation between TAXI and SKOR is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025 | 0.57 |
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Return for Risk
TAXI vs. SKOR — Risk / Return Rank
TAXI
SKOR
TAXI vs. SKOR - 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 Credit-Scored US Corporate Bond Index Fund (SKOR). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| TAXI | SKOR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.86 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.95 | 0.63 | +2.33 |
Drawdowns
TAXI vs. SKOR - Drawdown Comparison
The maximum TAXI drawdown since its inception was -2.23%, smaller than the maximum SKOR drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for TAXI and SKOR.
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Drawdown Indicators
| TAXI | SKOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.23% | -15.98% | +13.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.11% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.98% | — |
Current DrawdownCurrent decline from peak | -0.74% | -0.67% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -0.46% | -2.65% | +2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.58% | — |
Volatility
TAXI vs. SKOR - Volatility Comparison
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Volatility by Period
| TAXI | SKOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.84% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.99% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.90% | 2.72% | -0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.90% | 4.42% | -2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.90% | 4.90% | -3.00% |
TAXI vs. SKOR - Expense Ratio Comparison
TAXI has a 0.05% expense ratio, which is lower than SKOR's 0.22% 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. SKOR - Dividend Comparison
TAXI's dividend yield for the trailing twelve months is around 2.00%, less than SKOR's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.66% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
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 SKOR have a correlation of 0.57, 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 0.22% for SKOR.
SKOR has the higher dividend yield at 4.66%, compared with 2.00% for TAXI.
TAXI is categorized as Municipal Bonds, while SKOR is Corporate Bonds. TAXI tracks ICE Intermediate Term Focused Municipal Bond Index, while SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index. Their fees differ too: 0.05% for TAXI and 0.22% for SKOR.
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