TAXX vs. IBMO

Last updated Aug 2, 2026

TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) and IBMO (iShares iBonds Dec 2026 Term Muni Bond ETF) are both Municipal Bonds funds. TAXX is actively managed, while IBMO is passively managed. Over the past year, TAXX returned 2.72% vs 2.38% for IBMO. Their 0.27 correlation means their historical movements had little consistent relationship. TAXX charges 0.35%/yr vs 0.18%/yr for IBMO.

Performance

TAXX vs. IBMO - 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 iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). 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 IBMO's 1.26% return.

TAXX

• 1D: -0.03%
• 1M: -0.29%
• 6M: 0.59%
• YTD: 1.07%
• 1Y: 2.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.76%

IBMO

• 1D: 0.08%
• 1M: 0.19%
• 6M: 0.97%
• YTD: 1.26%
• 1Y: 2.38%
• 3Y*: 2.96%
• 5Y*: 0.61%
• 10Y*: —
• ALL TIME*: 1.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	$1.88M	$1.93M	$1.75M
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	$1.35M	$2.98M	$3.14M

TAXX vs. IBMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.07%	4.52%	3.36%
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	1.26%	3.11%	1.89%

Correlation

The correlation between TAXX and IBMO is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.08
Correlation (All Time) Calculated using the full available price history since Mar 14, 2024	0.27

The correlation between TAXX and IBMO shifts across timeframes, from 0.08 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TAXX vs. IBMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TAXX

TAXX Risk / Return Rank: 88
TAXX Sharpe Ratio Rank: 88
TAXX Sortino Ratio Rank: 89
TAXX Omega Ratio Rank: 92
TAXX Calmar Ratio Rank: 86
TAXX Martin Ratio Rank: 83

IBMO

IBMO Risk / Return Rank: 93
IBMO Sharpe Ratio Rank: 89
IBMO Sortino Ratio Rank: 93
IBMO Omega Ratio Rank: 91
IBMO Calmar Ratio Rank: 96
IBMO Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TAXX vs. IBMO - 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 iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO). 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.

	TAXX	IBMO	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.20	-0.04
Sortino ratio: Return per unit of downside risk	3.10	3.48	-0.38
Omega ratio: Gain probability vs. loss probability	1.46	1.44	+0.02
Calmar ratio: Return relative to maximum drawdown	3.35	6.65	-3.31
Martin ratio: Return relative to average drawdown	11.24	19.63	-8.39

TAXX vs. IBMO - Sharpe Ratio Comparison

The current TAXX Sharpe Ratio is 2.16, which is comparable to the IBMO Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of TAXX and IBMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TAXX vs. IBMO - Drawdown Comparison

The maximum TAXX drawdown since its inception was -0.91%, smaller than the maximum IBMO drawdown of -14.77%. Use the drawdown chart below to compare losses from any high point for TAXX and IBMO.

Drawdown Indicators

	TAXX	IBMO	Difference
Max Drawdown Largest peak-to-trough decline	-0.91%	-14.77%	+13.86%
Max Drawdown (1Y) Largest decline over 1 year	-0.88%	-0.38%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.77%	—
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-0.16%	-2.27%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.13%	+0.13%

Volatility

TAXX vs. IBMO - Volatility Comparison

The current volatility for Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) is 0.27%, while iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) has a volatility of 0.37%. This indicates that TAXX experiences smaller price fluctuations and is considered to be less risky than IBMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAXX	IBMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	0.37%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	0.85%	0.73%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	1.37%	1.15%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.57%	2.14%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.57%	4.47%	-2.90%

TAXX vs. IBMO - Expense Ratio Comparison

TAXX has a 0.35% expense ratio, which is higher than IBMO's 0.18% expense ratio.

Dividends

TAXX vs. IBMO - Dividend Comparison

TAXX's dividend yield for the trailing twelve months is around 3.45%, more than IBMO's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBMO iShares iBonds Dec 2026 Term Muni Bond ETF	2.20%	2.37%	2.15%	1.65%	0.89%	0.62%	1.03%	1.01%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	3.14%	3.72%	2.70%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TAXX and IBMO in my portfolio?

TAXX and IBMO have a correlation of 0.08, 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 IBMO?

IBMO has higher volatility (0.37%) compared to TAXX (0.27%). In terms of maximum drawdown, TAXX dropped -0.91% vs IBMO's -14.77%.

Which ETF is better, TAXX or IBMO?

On 1-year performance, TAXX leads with 2.72% vs 2.38% for IBMO. On fees, IBMO is cheaper at 0.18% per year. On volatility, TAXX has been the lower-risk option at 0.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAXX or IBMO?

Over the 1-year period, TAXX has performed better with a 2.72% return vs 2.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAXX or IBMO?

IBMO is cheaper with a 0.18% expense ratio, compared with 0.35% for TAXX.

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

TAXX has the higher dividend yield at 3.14%, compared with 2.20% for IBMO.

What is the main difference between TAXX and IBMO?

They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.35% for TAXX and 0.18% for IBMO.

Which has better risk-adjusted returns?

IBMO currently has the higher Sharpe Ratio (2.20 vs 2.16), 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.