TAXM vs. TAXX

Last updated Aug 1, 2026

TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) and TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) are both Municipal Bonds funds from BondBloxx. Both are actively managed. Over the past year, TAXM returned 4.10% vs 2.72% for TAXX. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 0.35% expense ratio.

Performance

TAXM vs. TAXX - 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 Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAXM achieves a 0.14% return, which is significantly lower than TAXX's 1.07% return.

TAXM

• 1D: -0.13%
• 1M: -1.61%
• 6M: -0.49%
• YTD: 0.14%
• 1Y: 4.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.91%

TAXX

• 1D: -0.03%
• 1M: -0.29%
• 6M: 0.59%
• YTD: 1.07%
• 1Y: 2.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	$158.92K	$254.95K	$177.53K
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	$1.35M	$2.98M	$3.14M

TAXM vs. TAXX - Yearly Performance Comparison

	2026 (YTD)	2025
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	0.14%	3.90%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.07%	3.60%

Correlation

The correlation between TAXM and TAXX is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	0.43

Return for Risk

TAXM vs. TAXX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TAXM

TAXM Risk / Return Rank: 63
TAXM Sharpe Ratio Rank: 72
TAXM Sortino Ratio Rank: 72
TAXM Omega Ratio Rank: 77
TAXM Calmar Ratio Rank: 48
TAXM Martin Ratio Rank: 47

TAXX

TAXX Risk / Return Rank: 88
TAXX Sharpe Ratio Rank: 88
TAXX Sortino Ratio Rank: 89
TAXX Omega Ratio Rank: 92
TAXX Calmar Ratio Rank: 86
TAXX Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TAXM vs. TAXX - 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 Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX). 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	TAXX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.16	-0.50
Sortino ratio: Return per unit of downside risk	2.34	3.10	-0.75
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.13
Calmar ratio: Return relative to maximum drawdown	1.71	3.35	-1.64
Martin ratio: Return relative to average drawdown	5.40	11.24	-5.84

TAXM vs. TAXX - Sharpe Ratio Comparison

The current TAXM Sharpe Ratio is 1.66, which is comparable to the TAXX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of TAXM and TAXX, 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. TAXX - Drawdown Comparison

The maximum TAXM drawdown since its inception was -3.10%, which is greater than TAXX's maximum drawdown of -0.91%. Use the drawdown chart below to compare losses from any high point for TAXM and TAXX.

Drawdown Indicators

	TAXM	TAXX	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-0.91%	-2.19%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-0.88%	-1.82%
Current Drawdown Current decline from peak	-1.82%	-0.31%	-1.51%
Average Drawdown Average peak-to-trough decline	-0.72%	-0.16%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.26%	+0.59%

Volatility

TAXM vs. TAXX - Volatility Comparison

BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) has a higher volatility of 0.99% compared to Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) at 0.27%. This indicates that TAXM's price experiences larger fluctuations and is considered to be riskier than TAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAXM	TAXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	0.27%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	2.28%	0.85%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	2.79%	1.37%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.49%	1.57%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.49%	1.57%	+1.92%

TAXM vs. TAXX - Expense Ratio Comparison

Both TAXM and TAXX have an expense ratio of 0.35%.

Dividends

TAXM vs. TAXX - Dividend Comparison

TAXM's dividend yield for the trailing twelve months is around 3.31%, less than TAXX's 3.45% yield.

Position	TTM	2025	2024
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents	3.01%	2.75%	0.00%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	3.14%	3.72%	2.70%

Frequently Asked Questions

Can I hold both TAXM and TAXX in my portfolio?

TAXM and TAXX have a correlation of 0.41, 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 TAXX?

TAXM has higher volatility (0.99%) compared to TAXX (0.27%). In terms of maximum drawdown, TAXM dropped -3.10% vs TAXX's -0.91%.

Which ETF is better, TAXM or TAXX?

On 1-year performance, TAXM leads with 4.10% vs 2.72% for TAXX. Both ETFs have the same 0.35% expense ratio. On volatility, TAXX has been the lower-risk option at 0.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAXM or TAXX?

Over the 1-year period, TAXM has performed better with a 4.10% return vs 2.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAXM or TAXX?

TAXM and TAXX have the same expense ratio: 0.35% per year.

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

TAXX has the higher dividend yield at 3.14%, compared with 3.01% for TAXM.

Which has better risk-adjusted returns?

TAXX currently has the higher Sharpe Ratio (2.16 vs 1.66), 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.