TAXS vs. IBMM

Last updated Jun 4, 2026

TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) and IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) are both Municipal Bonds funds - TAXS tracks the ICE Short Term Focused Municipal Bond Index while IBMM tracks the S&P AMT-Free Municipal Series Dec 2024 Index. Both are passively managed. TAXS charges 0.05%/yr vs 0.18%/yr for IBMM.

Performance

TAXS vs. IBMM - 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 iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TAXS

• 1D: 0.06%
• 1M: 0.38%
• YTD: 0.93%
• 6M: 1.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TAXS vs. IBMM - Yearly Performance Comparison

	2026 (YTD)
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	0.21%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%

Return for Risk

TAXS vs. IBMM - 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 iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). 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

	TAXS	IBMM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.78	—	—

Drawdowns

TAXS vs. IBMM - Drawdown Comparison

The maximum TAXS drawdown since its inception was -0.84%, which is greater than IBMM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for TAXS and IBMM.

Drawdown Indicators

	TAXS	IBMM	Difference
Max Drawdown Largest peak-to-trough decline	-0.84%	0.00%	-0.84%
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-0.24%	0.00%	-0.24%

Volatility

Volatility by Period

	TAXS	IBMM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.00%	0.00%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.00%	0.00%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.00%	0.00%	+1.00%

TAXS vs. IBMM - Expense Ratio Comparison

TAXS has a 0.05% expense ratio, which is lower than IBMM's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TAXS vs. IBMM - Dividend Comparison

TAXS's dividend yield for the trailing twelve months is around 1.83%, while IBMM has not paid dividends to shareholders.

Position	TTM	2025
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF	1.83%	0.74%

Frequently Asked Questions

Which ETF is better, TAXS or IBMM?

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 IBMM?

TAXS is cheaper with a 0.05% expense ratio, compared with 0.18% for IBMM.

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

TAXS has the higher dividend yield at 1.83%, compared with 0.00% for IBMM.

What is the main difference between TAXS and IBMM?

TAXS tracks ICE Short Term Focused Municipal Bond Index, while IBMM tracks S&P AMT-Free Municipal Series Dec 2024 Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.05% for TAXS and 0.18% for IBMM.