TAXX vs. MMMA
TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) and MMMA (NYLI MacKay Muni Allocation ETF) are both Municipal Bonds funds. Both are actively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.35% expense ratio.
Performance
TAXX vs. MMMA - Performance Comparison
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Returns By Period
In the year-to-date period, TAXX achieves a 1.07% return, which is significantly lower than MMMA's 2.42% return.
TAXX
- 1D
- -0.03%
- 1M
- -0.29%
- 6M
- 0.59%
- YTD
- 1.07%
- 1Y
- 2.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.76%
MMMA
- 1D
- -0.10%
- 1M
- -1.54%
- 6M
- 1.05%
- YTD
- 2.42%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $111.36K | $97.19K | $48.83K | |
| $1.35M | $2.98M | $3.14M |
TAXX vs. MMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF | 1.07% | 0.40% |
MMMA NYLI MacKay Muni Allocation ETF | 2.42% | 0.35% |
Correlation
The correlation between TAXX and MMMA is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.52 |
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Return for Risk
TAXX vs. MMMA — Risk / Return Rank
TAXX
MMMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TAXX vs. MMMA - 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 NYLI MacKay Muni Allocation ETF (MMMA). 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 | MMMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | — | — |
| Martin ratioReturn relative to average drawdown | 11.24 | — | — |
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Drawdowns
TAXX vs. MMMA - Drawdown Comparison
The maximum TAXX drawdown since its inception was -0.91%, smaller than the maximum MMMA drawdown of -2.79%. Use the drawdown chart below to compare losses from any high point for TAXX and MMMA.
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Drawdown Indicators
| TAXX | MMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.91% | -2.79% | +1.88% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -1.65% | +1.34% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.60% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | — | — |
Volatility
TAXX vs. MMMA - Volatility Comparison
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Volatility by Period
| TAXX | MMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 4.04% | -2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.57% | 4.04% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 4.04% | -2.47% |
TAXX vs. MMMA - Expense Ratio Comparison
Both TAXX and MMMA have an expense ratio of 0.35%.
Dividends
TAXX vs. MMMA - Dividend Comparison
TAXX's dividend yield for the trailing twelve months is around 3.45%, more than MMMA's 2.69% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MMMA NYLI MacKay Muni Allocation ETF | 2.69% | 0.17% | 0.00% |
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF | 3.14% | 3.72% | 2.70% |
Frequently Asked Questions
TAXX and MMMA have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TAXX and MMMA have the same expense ratio: 0.35% per year.
TAXX has the higher dividend yield at 3.14%, compared with 2.69% for MMMA.
They also come from different issuers: BondBloxx and NYLI.
Find the right allocation for TAXX and MMMA
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