TAXS vs. NUSA
TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) and NUSA (Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF) are both exchange-traded funds - TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index, while NUSA is a Short-Term Bond fund tracking the ICE BofA Enhanced Yield US Broad Bond (1-5 Y). Both are passively managed. At a 0.47 correlation, their price movements are largely independent. TAXS charges 0.05%/yr vs 0.15%/yr for NUSA.
Performance
TAXS vs. NUSA - Performance Comparison
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Returns By Period
In the year-to-date period, TAXS achieves a 1.03% return, which is significantly higher than NUSA's 0.48% return.
TAXS
- 1D
- -0.02%
- 1M
- 0.62%
- YTD
- 1.03%
- 6M
- 1.18%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NUSA
- 1D
- 0.09%
- 1M
- 0.29%
- YTD
- 0.48%
- 6M
- 0.74%
- 1Y
- 3.19%
- 3Y*
- 4.42%
- 5Y*
- 1.58%
- 10Y*
- —
TAXS vs. NUSA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.03% | 1.22% |
NUSA Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF | 0.48% | 1.81% |
Correlation
The correlation between TAXS and NUSA is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025 | 0.47 |
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Return for Risk
TAXS vs. NUSA — Risk / Return Rank
TAXS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NUSA
TAXS vs. NUSA - 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 Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF (NUSA). 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 | NUSA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.50 | — |
| Martin ratioReturn relative to average drawdown | — | 8.47 | — |
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Drawdowns
TAXS vs. NUSA - Drawdown Comparison
The maximum TAXS drawdown since its inception was -0.84%, smaller than the maximum NUSA drawdown of -9.44%. Use the drawdown chart below to compare losses from any high point for TAXS and NUSA.
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Drawdown Indicators
| TAXS | NUSA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.84% | -9.44% | +8.60% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.28% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.62% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.44% | — |
Current DrawdownCurrent decline from peak | -0.04% | -0.46% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -1.64% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.38% | — |
Volatility
TAXS vs. NUSA - Volatility Comparison
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Volatility by Period
| TAXS | NUSA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.58% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.42% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.99% | 1.84% | -0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.99% | 2.81% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.99% | 2.72% | -1.73% |
TAXS vs. NUSA - Expense Ratio Comparison
TAXS has a 0.05% expense ratio, which is lower than NUSA's 0.15% 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. NUSA - Dividend Comparison
TAXS's dividend yield for the trailing twelve months is around 1.82%, less than NUSA's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
NUSA Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF | 3.86% | 3.83% | 3.93% | 3.54% | 2.44% | 2.16% | 2.51% | 2.85% | 3.22% | 2.20% |
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.82% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXS and NUSA have a correlation of 0.47, 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 0.15% for NUSA.
NUSA has the higher dividend yield at 3.86%, compared with 1.82% for TAXS.
TAXS is categorized as Municipal Bonds, while NUSA is Short-Term Bond. TAXS tracks ICE Short Term Focused Municipal Bond Index, while NUSA tracks ICE BofA Enhanced Yield US Broad Bond (1-5 Y). They also come from different issuers: Northern Trust and Nuveen. Their fees differ too: 0.05% for TAXS and 0.15% for NUSA.
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