TAXI vs. THYM

Last updated Jun 4, 2026

TAXI (Northern Trust Intermediate Tax-Exempt Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - TAXI is a Municipal Bonds fund tracking the ICE Intermediate Term Focused Municipal Bond Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. TAXI is passively managed, while THYM is actively managed. A 0.60 correlation means they provide meaningful diversification when combined. TAXI charges 0.05%/yr vs 0.32%/yr for THYM.

Performance

TAXI vs. THYM - Performance Comparison

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

Returns By Period

In the year-to-date period, TAXI achieves a 0.94% return, which is significantly lower than THYM's 3.33% return.

TAXI

• 1D: -0.03%
• 1M: 0.46%
• YTD: 0.94%
• 6M: 1.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYM

• 1D: 0.14%
• 1M: 1.14%
• YTD: 3.33%
• 6M: 3.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TAXI vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF	0.94%	0.92%
THYM T. Rowe Price High Income Municipal ETF	3.33%	0.27%

Correlation

The correlation between TAXI and THYM is 0.60, 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 Nov 21, 2025	0.60

Return for Risk

TAXI vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and T. Rowe Price High Income Municipal ETF (THYM). 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.

Sharpe Ratios by Period

	TAXI	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.92	1.62	+1.30

Drawdowns

TAXI vs. THYM - Drawdown Comparison

The maximum TAXI drawdown since its inception was -2.23%, smaller than the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for TAXI and THYM.

Drawdown Indicators

	TAXI	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.23%	-2.93%	+0.70%
Current Drawdown Current decline from peak	-0.79%	0.00%	-0.79%
Average Drawdown Average peak-to-trough decline	-0.46%	-0.49%	+0.03%

Volatility

Volatility by Period

	TAXI	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	4.35%	-2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.90%	4.35%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.90%	4.35%	-2.45%

TAXI vs. THYM - Expense Ratio Comparison

TAXI has a 0.05% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

TAXI vs. THYM - Dividend Comparison

TAXI's dividend yield for the trailing twelve months is around 2.00%, less than THYM's 2.18% yield.

Position	TTM	2025
TAXI Northern Trust Intermediate Tax-Exempt Bond ETF	2.00%	0.85%
THYM T. Rowe Price High Income Municipal ETF	2.18%	0.37%

Frequently Asked Questions

Can I hold both TAXI and THYM in my portfolio?

TAXI and THYM have a correlation of 0.60, 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 THYM?

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 THYM?

TAXI is cheaper with a 0.05% expense ratio, compared with 0.32% for THYM.

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

THYM has the higher dividend yield at 2.18%, compared with 2.00% for TAXI.

What is the main difference between TAXI and THYM?

TAXI is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Northern Trust and T. Rowe Price. Their fees differ too: 0.05% for TAXI and 0.32% for THYM.