TAXX vs. ITM

Last updated Jun 23, 2026

TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) and ITM (VanEck Intermediate Muni ETF) are both Municipal Bonds funds. TAXX is actively managed, while ITM is passively managed. Over the past year, TAXX returned 3.65% vs 6.79% for ITM. A 0.56 correlation means they provide meaningful diversification when combined. TAXX charges 0.35%/yr vs 0.24%/yr for ITM.

Performance

TAXX vs. ITM - 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 VanEck Intermediate Muni ETF (ITM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TAXX achieves a 1.24% return, which is significantly higher than ITM's 0.84% return.

TAXX

• 1D: 0.02%
• 1M: 0.51%
• YTD: 1.24%
• 6M: 1.48%
• 1Y: 3.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ITM

• 1D: 0.04%
• 1M: 1.30%
• YTD: 0.84%
• 6M: 0.95%
• 1Y: 6.79%
• 3Y*: 3.44%
• 5Y*: 0.52%
• 10Y*: 1.81%

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

TAXX vs. ITM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.24%	4.52%	3.36%
ITM VanEck Intermediate Muni ETF	0.84%	5.34%	0.94%

Correlation

The correlation between TAXX and ITM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 14, 2024	0.56

The correlation between TAXX and ITM shifts across timeframes, from 0.43 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TAXX vs. ITM — Risk / Return Rank

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

TAXX

TAXX Risk / Return Rank: 77
TAXX Sharpe Ratio Rank: 69
TAXX Sortino Ratio Rank: 74
TAXX Omega Ratio Rank: 89
TAXX Calmar Ratio Rank: 82
TAXX Martin Ratio Rank: 70

ITM

ITM Risk / Return Rank: 66
ITM Sharpe Ratio Rank: 78
ITM Sortino Ratio Rank: 82
ITM Omega Ratio Rank: 87
ITM Calmar Ratio Rank: 40
ITM Martin Ratio Rank: 40

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. ITM - 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 VanEck Intermediate Muni ETF (ITM). 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	ITM	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.41	-0.25
Sortino ratio: Return per unit of downside risk	3.19	3.49	-0.30
Omega ratio: Gain probability vs. loss probability	1.54	1.51	+0.03
Calmar ratio: Return relative to maximum drawdown	4.15	1.99	+2.16
Martin ratio: Return relative to average drawdown	12.60	6.14	+6.46

TAXX vs. ITM - Sharpe Ratio Comparison

The current TAXX Sharpe Ratio is 2.16, which is comparable to the ITM Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of TAXX and ITM, 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. ITM - Drawdown Comparison

The maximum TAXX drawdown since its inception was -0.91%, smaller than the maximum ITM drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for TAXX and ITM.

Drawdown Indicators

	TAXX	ITM	Difference
Max Drawdown Largest peak-to-trough decline	-0.91%	-24.75%	+23.84%
Max Drawdown (1Y) Largest decline over 1 year	-0.88%	-3.43%	+2.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.75%	—
Current Drawdown Current decline from peak	0.00%	-1.09%	+1.09%
Average Drawdown Average peak-to-trough decline	-0.16%	-2.97%	+2.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	1.11%	-0.82%

Volatility

TAXX vs. ITM - Volatility Comparison

The current volatility for Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) is 0.32%, while VanEck Intermediate Muni ETF (ITM) has a volatility of 0.75%. This indicates that TAXX experiences smaller price fluctuations and is considered to be less risky than ITM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TAXX	ITM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	0.75%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	0.83%	2.22%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	1.70%	2.83%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.59%	4.31%	-2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.59%	7.10%	-5.51%

TAXX vs. ITM - Expense Ratio Comparison

TAXX has a 0.35% expense ratio, which is higher than ITM's 0.24% expense ratio.

Dividends

TAXX vs. ITM - Dividend Comparison

TAXX's dividend yield for the trailing twelve months is around 3.49%, more than ITM's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITM VanEck Intermediate Muni ETF	2.92%	2.86%	2.73%	2.40%	1.92%	1.70%	2.13%	2.44%	2.33%	2.21%	2.29%	2.28%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	3.49%	3.72%	2.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TAXX and ITM in my portfolio?

TAXX and ITM have a correlation of 0.43, 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 ITM?

ITM has higher volatility (0.75%) compared to TAXX (0.32%). In terms of maximum drawdown, TAXX dropped -0.91% vs ITM's -24.75%.

Which ETF is better, TAXX or ITM?

On 1-year performance, ITM leads with 6.79% vs 3.65% for TAXX. On fees, ITM is cheaper at 0.24% per year. On volatility, TAXX has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TAXX or ITM?

Over the 1-year period, ITM has performed better with a 6.79% return vs 3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAXX or ITM?

ITM is cheaper with a 0.24% expense ratio, compared with 0.35% for TAXX.

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

TAXX has the higher dividend yield at 3.49%, compared with 2.92% for ITM.

What is the main difference between TAXX and ITM?

They also come from different issuers: BondBloxx and VanEck. Their fees differ too: 0.35% for TAXX and 0.24% for ITM.

Which has better risk-adjusted returns?

ITM currently has the higher Sharpe Ratio (2.41 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.