TAXS vs. MFSM
TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) and MFSM (MFS Active Intermediate Muni Bond ETF) are both Municipal Bonds funds. TAXS is passively managed, while MFSM is actively managed. A 0.58 correlation means they provide meaningful diversification when combined. TAXS charges 0.05%/yr vs 0.34%/yr for MFSM.
Performance
TAXS vs. MFSM - Performance Comparison
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Returns By Period
In the year-to-date period, TAXS achieves a 0.99% return, which is significantly lower than MFSM's 1.73% return.
TAXS
- 1D
- 0.06%
- 1M
- 0.59%
- YTD
- 0.99%
- 6M
- 1.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MFSM
- 1D
- -0.03%
- 1M
- 0.76%
- YTD
- 1.73%
- 6M
- 2.29%
- 1Y
- 7.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TAXS vs. MFSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.99% | 1.22% |
MFSM MFS Active Intermediate Muni Bond ETF | 1.73% | 4.04% |
Correlation
The correlation between TAXS and MFSM is 0.58, 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 Aug 20, 2025 | 0.58 |
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Return for Risk
TAXS vs. MFSM — Risk / Return Rank
TAXS
MFSM
TAXS vs. MFSM - 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 MFS Active Intermediate Muni Bond ETF (MFSM). 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.
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Sharpe Ratios by Period
| TAXS | MFSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.85 | 1.11 | +1.74 |
Drawdowns
TAXS vs. MFSM - Drawdown Comparison
The maximum TAXS drawdown since its inception was -0.84%, smaller than the maximum MFSM drawdown of -3.86%. Use the drawdown chart below to compare losses from any high point for TAXS and MFSM.
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Drawdown Indicators
| TAXS | MFSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.84% | -3.86% | +3.02% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.65% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.52% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -0.88% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.71% | — |
Volatility
TAXS vs. MFSM - Volatility Comparison
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Volatility by Period
| TAXS | MFSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.00% | 2.67% | -1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.00% | 3.44% | -2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.00% | 3.44% | -2.44% |
TAXS vs. MFSM - Expense Ratio Comparison
TAXS has a 0.05% expense ratio, which is lower than MFSM's 0.34% expense ratio.
Dividends
TAXS vs. MFSM - Dividend Comparison
TAXS's dividend yield for the trailing twelve months is around 1.82%, less than MFSM's 3.55% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MFSM MFS Active Intermediate Muni Bond ETF | 3.55% | 3.53% | 0.23% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.82% | 0.74% | 0.00% |
Frequently Asked Questions
TAXS and MFSM have a correlation of 0.58, 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 0.34% for MFSM.
MFSM has the higher dividend yield at 3.55%, compared with 1.82% for TAXS.
They also come from different issuers: Northern Trust and MFS. Their fees differ too: 0.05% for TAXS and 0.34% for MFSM.
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