TAXX vs. HYSA

Last updated Jun 6, 2026

TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) and HYSA (Bondbloxx USD High Yield Bond Sector Rotation ETF) are both exchange-traded funds - TAXX is a Municipal Bonds fund actively managed by BondBloxx, while HYSA is a High Yield Bonds fund actively managed by BondBloxx. Both are actively managed. Over the past year, TAXX returned 3.90% vs 6.18% for HYSA. At a 0.27 correlation, their price movements are largely independent. TAXX charges 0.35%/yr vs 0.55%/yr for HYSA.

Performance

TAXX vs. HYSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) and Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAXX achieves a 1.07% return, which is significantly lower than HYSA's 1.13% return.

TAXX

• 1D: -0.04%
• 1M: 0.21%
• YTD: 1.07%
• 6M: 1.54%
• 1Y: 3.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYSA

• 1D: -0.13%
• 1M: 0.08%
• YTD: 1.13%
• 6M: 1.63%
• 1Y: 6.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TAXX vs. HYSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.07%	4.52%	3.51%
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	1.13%	8.37%	5.62%

Correlation

The correlation between TAXX and HYSA is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.27

The correlation between TAXX and HYSA shifts across timeframes, from 0.16 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

TAXX vs. HYSA - Sectors Allocation Comparison

Sectors	TAXX	HYSA
Financial Services	0.1%	-
Consumer Cyclical	0.1%	-
Industrials	0.1%	-
Communication Services	0.0%	100.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TAXX vs. HYSA — Risk / Return Rank

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

TAXX

TAXX Risk / Return Rank: 81
TAXX Sharpe Ratio Rank: 75
TAXX Sortino Ratio Rank: 80
TAXX Omega Ratio Rank: 92
TAXX Calmar Ratio Rank: 84
TAXX Martin Ratio Rank: 74

HYSA

HYSA Risk / Return Rank: 41
HYSA Sharpe Ratio Rank: 38
HYSA Sortino Ratio Rank: 39
HYSA Omega Ratio Rank: 37
HYSA Calmar Ratio Rank: 41
HYSA Martin Ratio Rank: 49

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.

TAXX vs. HYSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) and Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA). 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.

	TAXX	HYSA	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.33	+0.99
Sortino ratio: Return per unit of downside risk	3.42	1.96	+1.46
Omega ratio: Gain probability vs. loss probability	1.59	1.24	+0.35
Calmar ratio: Return relative to maximum drawdown	4.43	1.97	+2.46
Martin ratio: Return relative to average drawdown	13.47	7.93	+5.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAXX vs. HYSA - Sharpe Ratio Comparison

The current TAXX Sharpe Ratio is 2.31, which is higher than the HYSA Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of TAXX and HYSA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TAXX	HYSA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	1.33	+0.99
Sharpe Ratio (All Time) Calculated using the full available price history	2.59	1.36	+1.23

Drawdowns

TAXX vs. HYSA - Drawdown Comparison

The maximum TAXX drawdown since its inception was -0.91%, smaller than the maximum HYSA drawdown of -4.90%. Use the drawdown chart below to compare losses from any high point for TAXX and HYSA.

Drawdown Indicators

	TAXX	HYSA	Difference
Max Drawdown Largest peak-to-trough decline	-0.91%	-4.90%	+3.99%
Max Drawdown (1Y) Largest decline over 1 year	-0.88%	-3.15%	+2.27%
Current Drawdown Current decline from peak	-0.04%	-0.40%	+0.36%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.68%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.78%	-0.49%

Volatility

TAXX vs. HYSA - Volatility Comparison

The current volatility for Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) is 0.33%, while Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) has a volatility of 1.28%. This indicates that TAXX experiences smaller price fluctuations and is considered to be less risky than HYSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAXX	HYSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	1.28%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	0.84%	3.54%	-2.70%
Volatility (1Y) Calculated over the trailing 1-year period	1.69%	4.68%	-2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.59%	6.07%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.59%	6.07%	-4.48%

TAXX vs. HYSA - Expense Ratio Comparison

TAXX has a 0.35% expense ratio, which is lower than HYSA's 0.55% expense ratio.

Dividends

TAXX vs. HYSA - Dividend Comparison

TAXX's dividend yield for the trailing twelve months is around 3.50%, less than HYSA's 6.77% yield.

Position	TTM	2025	2024	2023
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF	6.77%	6.70%	6.99%	2.65%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	3.50%	3.72%	2.70%	0.00%

Frequently Asked Questions

Can I hold both TAXX and HYSA in my portfolio?

TAXX and HYSA have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAXX or HYSA?

HYSA has higher volatility (1.28%) compared to TAXX (0.33%). In terms of maximum drawdown, TAXX dropped -0.91% vs HYSA's -4.90%.

Which ETF is better, TAXX or HYSA?

On 1-year performance, HYSA leads with 6.18% vs 3.90% for TAXX. On fees, TAXX is cheaper at 0.35% per year. On volatility, TAXX has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAXX or HYSA?

Over the 1-year period, HYSA has performed better with a 6.18% return vs 3.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAXX or HYSA?

TAXX is cheaper with a 0.35% expense ratio, compared with 0.55% for HYSA.

Which ETF pays a higher dividend yield, TAXX or HYSA?

HYSA has the higher dividend yield at 6.77%, compared with 3.50% for TAXX.

What is the main difference between TAXX and HYSA?

TAXX is categorized as Municipal Bonds, while HYSA is High Yield Bonds. Their fees differ too: 0.35% for TAXX and 0.55% for HYSA.

Which has better risk-adjusted returns?

TAXX currently has the higher Sharpe Ratio (2.31 vs 1.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.