TAXS vs. TDTF
TAXS (Northern Trust Short-Term Tax-Exempt Bond ETF) and TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) are both exchange-traded funds - TAXS is a Municipal Bonds fund tracking the ICE Short Term Focused Municipal Bond Index, while TDTF is a Inflation-Protected Bonds fund tracking the iBoxx 5-Year Target Duration TIPS. Both are passively managed. At a 0.41 correlation, their price movements are largely independent. TAXS charges 0.05%/yr vs 0.18%/yr for TDTF.
Performance
TAXS vs. TDTF - Performance Comparison
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Returns By Period
In the year-to-date period, TAXS achieves a 0.93% return, which is significantly lower than TDTF's 1.52% return.
TAXS
- 1D
- 0.06%
- 1M
- 0.38%
- YTD
- 0.93%
- 6M
- 1.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TDTF
- 1D
- -0.13%
- 1M
- -0.44%
- YTD
- 1.52%
- 6M
- 1.18%
- 1Y
- 5.07%
- 3Y*
- 4.56%
- 5Y*
- 1.72%
- 10Y*
- 2.93%
TAXS vs. TDTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 0.93% | 1.22% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.52% | 1.18% |
Correlation
The correlation between TAXS and TDTF is 0.41, 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 20, 2025 | 0.41 |
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Return for Risk
TAXS vs. TDTF — Risk / Return Rank
TAXS
TDTF
TAXS vs. TDTF - 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 FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). 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 | TDTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.67 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.30 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.78 | 0.47 | +2.31 |
Drawdowns
TAXS vs. TDTF - Drawdown Comparison
The maximum TAXS drawdown since its inception was -0.84%, smaller than the maximum TDTF drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for TAXS and TDTF.
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Drawdown Indicators
| TAXS | TDTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.84% | -12.02% | +11.18% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.58% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.02% | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.57% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -2.91% | +2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.48% | — |
Volatility
TAXS vs. TDTF - Volatility Comparison
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Volatility by Period
| TAXS | TDTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.00% | 3.06% | -2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.00% | 5.69% | -4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.00% | 5.07% | -4.07% |
TAXS vs. TDTF - Expense Ratio Comparison
TAXS has a 0.05% expense ratio, which is lower than TDTF'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. TDTF - Dividend Comparison
TAXS's dividend yield for the trailing twelve months is around 1.83%, less than TDTF's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAXS Northern Trust Short-Term Tax-Exempt Bond ETF | 1.83% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 4.71% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
Frequently Asked Questions
TAXS and TDTF have a correlation of 0.41, 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 TDTF.
TDTF has the higher dividend yield at 4.71%, compared with 1.83% for TAXS.
TAXS is categorized as Municipal Bonds, while TDTF is Inflation-Protected Bonds. TAXS tracks ICE Short Term Focused Municipal Bond Index, while TDTF tracks iBoxx 5-Year Target Duration TIPS. Their fees differ too: 0.05% for TAXS and 0.18% for TDTF.
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