TAXM vs. TAXT
TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) and TAXT (Northern Trust Tax-Exempt Bond ETF) are both Municipal Bonds funds. TAXM is actively managed, while TAXT is passively managed. Their 0.80 correlation means they have sometimes moved together and sometimes differently. TAXM charges 0.35%/yr vs 0.05%/yr for TAXT.
Performance
TAXM vs. TAXT - Performance Comparison
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Returns By Period
In the year-to-date period, TAXM achieves a 0.14% return, which is significantly lower than TAXT's 0.32% return.
TAXM
- 1D
- -0.13%
- 1M
- -1.61%
- 6M
- -0.49%
- YTD
- 0.14%
- 1Y
- 4.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.91%
TAXT
- 1D
- -0.08%
- 1M
- -1.57%
- 6M
- -0.46%
- YTD
- 0.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $158.92K | $254.95K | $177.53K | |
| $101.60K | $96.04K | $143.38K |
TAXM vs. TAXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 0.14% | 4.02% |
TAXT Northern Trust Tax-Exempt Bond ETF | 0.32% | 3.91% |
Correlation
The correlation between TAXM and TAXT is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.80 |
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Return for Risk
TAXM vs. TAXT — Risk / Return Rank
TAXM
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TAXM vs. TAXT - 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 Northern Trust Tax-Exempt Bond ETF (TAXT). 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 | TAXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | — | — |
| Martin ratioReturn relative to average drawdown | 5.40 | — | — |
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Drawdowns
TAXM vs. TAXT - Drawdown Comparison
The maximum TAXM drawdown since its inception was -3.10%, which is greater than TAXT's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for TAXM and TAXT.
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Drawdown Indicators
| TAXM | TAXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.10% | -2.49% | -0.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | — | — |
Current DrawdownCurrent decline from peak | -1.82% | -1.72% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -0.52% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | — | — |
Volatility
TAXM vs. TAXT - Volatility Comparison
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Volatility by Period
| TAXM | TAXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.79% | 2.57% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.49% | 2.57% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.49% | 2.57% | +0.92% |
TAXM vs. TAXT - Expense Ratio Comparison
TAXM has a 0.35% expense ratio, which is higher than TAXT's 0.05% expense ratio.
Dividends
TAXM vs. TAXT - Dividend Comparison
TAXM's dividend yield for the trailing twelve months is around 3.31%, more than TAXT's 2.86% yield.
| Position | TTM | 2025 |
|---|---|---|
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 3.01% | 2.75% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.86% | 1.23% |
Frequently Asked Questions
TAXM and TAXT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TAXT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.35% for TAXM.
TAXM has the higher dividend yield at 3.01%, compared with 2.86% for TAXT.
They also come from different issuers: BondBloxx and Northern Trust. Their fees differ too: 0.35% for TAXM and 0.05% for TAXT.
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