TAXS vs. IBMP
TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) and IBMP (iShares iBonds Dec 2027 Term Muni Bond ETF) are both Municipal Bonds funds - TAXS tracks the ICE Short Term Focused Municipal Bond Index while IBMP tracks the S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index. Both are passively managed. Their 0.29 correlation means their historical movements had little consistent relationship. TAXS charges 0.05%/yr vs 0.18%/yr for IBMP.
Performance
TAXS vs. IBMP - Performance Comparison
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Returns By Period
In the year-to-date period, TAXS achieves a 1.18% return, which is significantly lower than IBMP's 1.28% return.
TAXS
- 1D
- 0.08%
- 1M
- -0.05%
- 6M
- 0.54%
- YTD
- 1.18%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
IBMP
- 1D
- 0.12%
- 1M
- 0.01%
- 6M
- 0.79%
- YTD
- 1.28%
- 1Y
- 2.21%
- 3Y*
- 3.09%
- 5Y*
- 0.54%
- 10Y*
- —
- ALL TIME*
- 1.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.28M | $2.11M | $2.08M | |
| $428.31K | $651.14K | $951.21K |
TAXS vs. IBMP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.18% | 1.22% |
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 1.28% | 0.73% |
Correlation
The correlation between TAXS and IBMP is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.29 |
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Return for Risk
TAXS vs. IBMP — Risk / Return Rank
TAXS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBMP
TAXS vs. IBMP - 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 2027 Term Muni Bond ETF (IBMP). 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.
| TAXS | IBMP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.39 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.74 | — |
| Martin ratioReturn relative to average drawdown | — | 10.27 | — |
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Drawdowns
TAXS vs. IBMP - Drawdown Comparison
The maximum TAXS drawdown since its inception was -0.84%, smaller than the maximum IBMP drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for TAXS and IBMP.
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Drawdown Indicators
| TAXS | IBMP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.84% | -15.24% | +14.40% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.59% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.94% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.87% | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.12% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -2.66% | +2.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.22% | — |
Volatility
TAXS vs. IBMP - Volatility Comparison
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Volatility by Period
| TAXS | IBMP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.39% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.80% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.04% | 1.11% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.04% | 2.55% | -1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.04% | 4.95% | -3.91% |
TAXS vs. IBMP - Expense Ratio Comparison
TAXS has a 0.05% expense ratio, which is lower than IBMP'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. IBMP - Dividend Comparison
TAXS's dividend yield for the trailing twelve months is around 2.25%, less than IBMP's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBMP iShares iBonds Dec 2027 Term Muni Bond ETF | 2.51% | 2.47% | 2.35% | 2.05% | 1.26% | 0.86% | 1.16% | 1.06% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 2.25% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXS and IBMP have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TAXS is cheaper with a 0.05% expense ratio, compared with 0.18% for IBMP.
IBMP has the higher dividend yield at 2.51%, compared with 2.25% for TAXS.
TAXS tracks ICE Short Term Focused Municipal Bond Index, while IBMP tracks S&P AMT-Free Municipal Callable Factor Adjusted 2027 Series Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.05% for TAXS and 0.18% for IBMP.
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