TAXT vs. HYGV

Last updated Jun 5, 2026

TAXT (Northern Trust Tax-Exempt Bond ETF) and HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) are both exchange-traded funds - TAXT is a Municipal Bonds fund tracking the ICE Focused Municipal Bond Index, while HYGV is a High Yield Bonds fund tracking the Northern Trust High Yield Value-Scored US Corporate Bond Index. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. TAXT charges 0.05%/yr vs 0.37%/yr for HYGV.

Performance

TAXT vs. HYGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust Tax-Exempt Bond ETF (TAXT) and FlexShares High Yield Value-Scored US Bond Index Fund (HYGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TAXT having a 1.59% return and HYGV slightly lower at 1.56%.

TAXT

• 1D: 0.11%
• 1M: 0.76%
• YTD: 1.59%
• 6M: 2.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYGV

• 1D: 0.14%
• 1M: 0.39%
• YTD: 1.56%
• 6M: 1.85%
• 1Y: 6.88%
• 3Y*: 8.51%
• 5Y*: 3.52%
• 10Y*: —

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

TAXT vs. HYGV - Yearly Performance Comparison

	2026 (YTD)	2025
TAXT Northern Trust Tax-Exempt Bond ETF	1.59%	3.96%
HYGV FlexShares High Yield Value-Scored US Bond Index Fund	1.56%	2.99%

Correlation

The correlation between TAXT and HYGV is 0.49, 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	0.49

Return for Risk

TAXT vs. HYGV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYGV

HYGV Risk / Return Rank: 57
HYGV Sharpe Ratio Rank: 54
HYGV Sortino Ratio Rank: 60
HYGV Omega Ratio Rank: 57
HYGV Calmar Ratio Rank: 53
HYGV Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TAXT vs. HYGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust Tax-Exempt Bond ETF (TAXT) and FlexShares High Yield Value-Scored US Bond Index Fund (HYGV). 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

	TAXT	HYGV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.80	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.84	0.55	+2.29

Drawdowns

TAXT vs. HYGV - Drawdown Comparison

The maximum TAXT drawdown since its inception was -2.49%, smaller than the maximum HYGV drawdown of -23.47%. Use the drawdown chart below to compare losses from any high point for TAXT and HYGV.

Drawdown Indicators

	TAXT	HYGV	Difference
Max Drawdown Largest peak-to-trough decline	-2.49%	-23.47%	+20.98%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.68%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.12%	—
Current Drawdown Current decline from peak	-0.47%	-0.13%	-0.34%
Average Drawdown Average peak-to-trough decline	-0.47%	-3.32%	+2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.62%	—

Volatility

Volatility by Period

	TAXT	HYGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	3.85%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.53%	7.59%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	9.20%	-6.67%

TAXT vs. HYGV - Expense Ratio Comparison

TAXT has a 0.05% expense ratio, which is lower than HYGV's 0.37% expense ratio.

Dividends

TAXT vs. HYGV - Dividend Comparison

TAXT's dividend yield for the trailing twelve months is around 2.54%, less than HYGV's 7.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HYGV FlexShares High Yield Value-Scored US Bond Index Fund	7.40%	7.48%	8.20%	8.77%	7.64%	6.07%	6.18%	7.95%	5.63%
TAXT Northern Trust Tax-Exempt Bond ETF	2.54%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TAXT and HYGV in my portfolio?

TAXT and HYGV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TAXT or HYGV?

On fees, TAXT 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, TAXT or HYGV?

TAXT is cheaper with a 0.05% expense ratio, compared with 0.37% for HYGV.

Which ETF pays a higher dividend yield, TAXT or HYGV?

HYGV has the higher dividend yield at 7.40%, compared with 2.54% for TAXT.

What is the main difference between TAXT and HYGV?

TAXT is categorized as Municipal Bonds, while HYGV is High Yield Bonds. TAXT tracks ICE Focused Municipal Bond Index, while HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index. Their fees differ too: 0.05% for TAXT and 0.37% for HYGV.