TAXT vs. SKOR
TAXT (Northern Trust Tax-Exempt Bond ETF) and SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) are both exchange-traded funds - TAXT is a Municipal Bonds fund tracking the ICE Focused Municipal Bond Index, while SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index. Both are passively managed. A 0.65 correlation means they provide meaningful diversification when combined. TAXT charges 0.05%/yr vs 0.22%/yr for SKOR.
Performance
TAXT vs. SKOR - Performance Comparison
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Returns By Period
In the year-to-date period, TAXT achieves a 1.29% return, which is significantly higher than SKOR's 0.48% return.
TAXT
- 1D
- -0.14%
- 1M
- -0.18%
- 6M
- 0.60%
- YTD
- 1.29%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SKOR
- 1D
- -0.04%
- 1M
- -0.19%
- 6M
- 0.34%
- YTD
- 0.48%
- 1Y
- 4.32%
- 3Y*
- 5.80%
- 5Y*
- 1.68%
- 10Y*
- 2.81%
TAXT vs. SKOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXT Northern Trust Tax-Exempt Bond ETF | 1.29% | 3.91% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.48% | 2.55% |
Correlation
The correlation between TAXT and SKOR is 0.65, 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 | 0.65 |
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Return for Risk
TAXT vs. SKOR — Risk / Return Rank
TAXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SKOR
TAXT vs. SKOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Trust Tax-Exempt Bond ETF (TAXT) and FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR). 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 | SKOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.08 | — |
| Martin ratioReturn relative to average drawdown | — | 7.01 | — |
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Drawdowns
TAXT vs. SKOR - Drawdown Comparison
The maximum TAXT drawdown since its inception was -2.49%, smaller than the maximum SKOR drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for TAXT and SKOR.
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Drawdown Indicators
| TAXT | SKOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.49% | -15.98% | +13.49% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.98% | — |
Current DrawdownCurrent decline from peak | -0.77% | -0.63% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -0.47% | -2.63% | +2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.62% | — |
Volatility
TAXT vs. SKOR - Volatility Comparison
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Volatility by Period
| TAXT | SKOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.14% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.49% | 2.72% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 4.44% | -1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.49% | 4.90% | -2.41% |
TAXT vs. SKOR - Expense Ratio Comparison
TAXT has a 0.05% expense ratio, which is lower than SKOR's 0.22% 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
TAXT vs. SKOR - Dividend Comparison
TAXT's dividend yield for the trailing twelve months is around 2.83%, less than SKOR's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.69% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
TAXT Northern Trust Tax-Exempt Bond ETF | 2.83% | 1.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAXT and SKOR have a correlation of 0.65, 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 0.22% for SKOR.
SKOR has the higher dividend yield at 4.69%, compared with 2.83% for TAXT.
TAXT is categorized as Municipal Bonds, while SKOR is Corporate Bonds. TAXT tracks ICE Focused Municipal Bond Index, while SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index. Their fees differ too: 0.05% for TAXT and 0.22% for SKOR.
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