TAXS vs. FTOH

Last updated Jun 24, 2026

TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) and FTOH (Franklin Ohio Municipal Income ETF) are both Municipal Bonds funds - TAXS tracks the ICE Short Term Focused Municipal Bond Index while FTOH tracks the Actively Managed. Both are passively managed. A 0.53 correlation means they provide meaningful diversification when combined. TAXS charges 0.05%/yr vs 0.35%/yr for FTOH.

Performance

TAXS vs. FTOH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) and Franklin Ohio Municipal Income ETF (FTOH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAXS achieves a 1.03% return, which is significantly lower than FTOH's 2.49% return.

TAXS

• 1D: -0.02%
• 1M: 0.62%
• YTD: 1.03%
• 6M: 1.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTOH

• 1D: 0.06%
• 1M: 1.85%
• YTD: 2.49%
• 6M: 2.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TAXS vs. FTOH - Yearly Performance Comparison

	2026 (YTD)	2025
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.03%	1.00%
FTOH Franklin Ohio Municipal Income ETF	2.49%	0.08%

Correlation

The correlation between TAXS and FTOH 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 (All Time) Calculated using the full available price history since Nov 10, 2025	0.53

Return for Risk

TAXS vs. FTOH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) and Franklin Ohio Municipal Income ETF (FTOH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

TAXS vs. FTOH - Drawdown Comparison

The maximum TAXS drawdown since its inception was -0.84%, smaller than the maximum FTOH drawdown of -2.59%. Use the drawdown chart below to compare losses from any high point for TAXS and FTOH.

Drawdown Indicators

	TAXS	FTOH	Difference
Max Drawdown Largest peak-to-trough decline	-0.84%	-2.59%	+1.75%
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.53%	+0.31%

Volatility

Volatility by Period

	TAXS	FTOH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.99%	3.57%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.99%	3.57%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.99%	3.57%	-2.58%

TAXS vs. FTOH - Expense Ratio Comparison

TAXS has a 0.05% expense ratio, which is lower than FTOH's 0.35% expense ratio.

Dividends

TAXS vs. FTOH - Dividend Comparison

TAXS's dividend yield for the trailing twelve months is around 1.82%, less than FTOH's 2.17% yield.

Position	TTM	2025
FTOH Franklin Ohio Municipal Income ETF	2.17%	0.56%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.82%	0.74%

Frequently Asked Questions

Can I hold both TAXS and FTOH in my portfolio?

TAXS and FTOH 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 ETF is better, TAXS or FTOH?

On fees, TAXS 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, TAXS or FTOH?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.35% for FTOH.

Which ETF pays a higher dividend yield, TAXS or FTOH?

FTOH has the higher dividend yield at 2.17%, compared with 1.82% for TAXS.

What is the main difference between TAXS and FTOH?

TAXS tracks ICE Short Term Focused Municipal Bond Index, while FTOH tracks Actively Managed. They also come from different issuers: Northern Trust and Franklin Templeton. Their fees differ too: 0.05% for TAXS and 0.35% for FTOH.