TAXM vs. RTAI

Last updated Jun 24, 2026

TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) and RTAI (Rareview Tax Advantaged Income ETF) are both Municipal Bonds funds. Both are actively managed. Over the past year, TAXM returned 5.91% vs 11.68% for RTAI. A 0.58 correlation means they provide meaningful diversification when combined. TAXM charges 0.35%/yr vs 3.78%/yr for RTAI.

Performance

TAXM vs. RTAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) and Rareview Tax Advantaged Income ETF (RTAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAXM achieves a 1.31% return, which is significantly lower than RTAI's 3.90% return.

TAXM

• 1D: -0.12%
• 1M: 1.14%
• YTD: 1.31%
• 6M: 1.47%
• 1Y: 5.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RTAI

• 1D: 0.35%
• 1M: 3.23%
• YTD: 3.90%
• 6M: 4.64%
• 1Y: 11.68%
• 3Y*: 7.08%
• 5Y*: -0.71%
• 10Y*: —

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

TAXM vs. RTAI - Yearly Performance Comparison

	2026 (YTD)	2025
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	1.31%	3.90%
RTAI Rareview Tax Advantaged Income ETF	3.90%	3.58%

Correlation

The correlation between TAXM and RTAI is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	0.58

The correlation between TAXM and RTAI has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.

Return for Risk

TAXM vs. RTAI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TAXM

TAXM Risk / Return Rank: 69
TAXM Sharpe Ratio Rank: 78
TAXM Sortino Ratio Rank: 82
TAXM Omega Ratio Rank: 85
TAXM Calmar Ratio Rank: 49
TAXM Martin Ratio Rank: 49

RTAI

RTAI Risk / Return Rank: 56
RTAI Sharpe Ratio Rank: 56
RTAI Sortino Ratio Rank: 68
RTAI Omega Ratio Rank: 64
RTAI Calmar Ratio Rank: 41
RTAI Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TAXM vs. RTAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) and Rareview Tax Advantaged Income ETF (RTAI). 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.

	TAXM	RTAI	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.75	+0.49
Sortino ratio: Return per unit of downside risk	3.27	2.82	+0.44
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	2.20	1.90	+0.30
Martin ratio: Return relative to average drawdown	7.51	7.69	-0.17

TAXM vs. RTAI - Sharpe Ratio Comparison

The current TAXM Sharpe Ratio is 2.24, which is comparable to the RTAI Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of TAXM and RTAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TAXM vs. RTAI - Drawdown Comparison

The maximum TAXM drawdown since its inception was -3.10%, smaller than the maximum RTAI drawdown of -34.32%. Use the drawdown chart below to compare losses from any high point for TAXM and RTAI.

Drawdown Indicators

	TAXM	RTAI	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-34.32%	+31.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-6.18%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.32%	—
Current Drawdown Current decline from peak	-0.67%	-6.33%	+5.66%
Average Drawdown Average peak-to-trough decline	-0.71%	-13.76%	+13.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	1.52%	-0.73%

Volatility

TAXM vs. RTAI - Volatility Comparison

The current volatility for BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) is 0.69%, while Rareview Tax Advantaged Income ETF (RTAI) has a volatility of 2.02%. This indicates that TAXM experiences smaller price fluctuations and is considered to be less risky than RTAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAXM	RTAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	2.02%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	5.47%	-3.39%
Volatility (1Y) Calculated over the trailing 1-year period	2.66%	6.72%	-4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.51%	9.36%	-5.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.51%	9.03%	-5.52%

TAXM vs. RTAI - Expense Ratio Comparison

TAXM has a 0.35% expense ratio, which is lower than RTAI's 3.78% expense ratio.

Dividends

TAXM vs. RTAI - Dividend Comparison

TAXM's dividend yield for the trailing twelve months is around 3.28%, less than RTAI's 4.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
RTAI Rareview Tax Advantaged Income ETF	4.98%	5.66%	5.02%	3.07%	3.71%	4.73%	0.48%
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	3.28%	2.75%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TAXM and RTAI in my portfolio?

TAXM and RTAI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAXM or RTAI?

RTAI has higher volatility (2.02%) compared to TAXM (0.69%). In terms of maximum drawdown, TAXM dropped -3.10% vs RTAI's -34.32%.

Which ETF is better, TAXM or RTAI?

On 1-year performance, RTAI leads with 11.68% vs 5.91% for TAXM. On fees, TAXM is cheaper at 0.35% per year. On volatility, TAXM has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAXM or RTAI?

Over the 1-year period, RTAI has performed better with a 11.68% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAXM or RTAI?

TAXM is cheaper with a 0.35% expense ratio, compared with 3.78% for RTAI.

Which ETF pays a higher dividend yield, TAXM or RTAI?

RTAI has the higher dividend yield at 4.98%, compared with 3.28% for TAXM.

What is the main difference between TAXM and RTAI?

They also come from different issuers: BondBloxx and Rareview Funds. Their fees differ too: 0.35% for TAXM and 3.78% for RTAI.

Which has better risk-adjusted returns?

TAXM currently has the higher Sharpe Ratio (2.24 vs 1.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.