TAXT vs. NUMI
TAXT (Northern Trust Tax-Exempt Bond ETF) and NUMI (Nuveen Municipal Income ETF) are both Municipal Bonds funds. TAXT is passively managed, while NUMI is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. TAXT charges 0.05%/yr vs 0.29%/yr for NUMI.
Performance
TAXT vs. NUMI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TAXT having a 1.58% return and NUMI slightly higher at 1.59%.
TAXT
- 1D
- -0.04%
- 1M
- 1.12%
- YTD
- 1.58%
- 6M
- 1.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NUMI
- 1D
- -0.12%
- 1M
- 1.01%
- YTD
- 1.59%
- 6M
- 1.69%
- 1Y
- 7.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TAXT vs. NUMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXT Northern Trust Tax-Exempt Bond ETF | 1.58% | 3.91% |
NUMI Nuveen Municipal Income ETF | 1.59% | 5.12% |
Correlation
The correlation between TAXT and NUMI is 0.72, 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 19, 2025 | 0.72 |
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Return for Risk
TAXT vs. NUMI — Risk / Return Rank
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NUMI
TAXT vs. NUMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust Tax-Exempt Bond ETF (TAXT) and Nuveen Municipal Income ETF (NUMI). 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.
| TAXT | NUMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.45 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.52 | — |
| Martin ratioReturn relative to average drawdown | — | 7.78 | — |
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Drawdowns
TAXT vs. NUMI - Drawdown Comparison
The maximum TAXT drawdown since its inception was -2.49%, smaller than the maximum NUMI drawdown of -4.72%. Use the drawdown chart below to compare losses from any high point for TAXT and NUMI.
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Drawdown Indicators
| TAXT | NUMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.49% | -4.72% | +2.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.82% | — |
Current DrawdownCurrent decline from peak | -0.49% | -0.57% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -1.36% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.91% | — |
Volatility
TAXT vs. NUMI - Volatility Comparison
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Volatility by Period
| TAXT | NUMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.68% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.20% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 3.42% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.53% | 4.32% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.53% | 4.32% | -1.79% |
TAXT vs. NUMI - Expense Ratio Comparison
TAXT has a 0.05% expense ratio, which is lower than NUMI's 0.29% expense ratio.
Dividends
TAXT vs. NUMI - Dividend Comparison
TAXT's dividend yield for the trailing twelve months is around 2.54%, less than NUMI's 3.66% yield.
| Position | TTM | 2025 |
|---|---|---|
NUMI Nuveen Municipal Income ETF | 3.66% | 3.44% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.54% | 1.23% |
Frequently Asked Questions
TAXT and NUMI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TAXT is cheaper with a 0.05% expense ratio, compared with 0.29% for NUMI.
NUMI has the higher dividend yield at 3.66%, compared with 2.54% for TAXT.
They also come from different issuers: Northern Trust and Nuveen. Their fees differ too: 0.05% for TAXT and 0.29% for NUMI.
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