TAXX vs. PGHY
Compare and contrast key facts about Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) and Invesco Global Short Term High Yield Bond ETF (PGHY).
TAXX and PGHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TAXX is an actively managed fund by BondBloxx. It was launched on Mar 14, 2024. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013.
Performance
TAXX vs. PGHY - Performance Comparison
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TAXX vs. PGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF | 0.49% | 4.52% | 3.51% |
PGHY Invesco Global Short Term High Yield Bond ETF | 0.48% | 8.88% | 5.30% |
Returns By Period
The year-to-date returns for both stocks are quite close, with TAXX having a 0.49% return and PGHY slightly lower at 0.48%.
TAXX
- 1D
- 0.06%
- 1M
- -0.39%
- YTD
- 0.49%
- 6M
- 1.28%
- 1Y
- 3.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGHY
- 1D
- 0.51%
- 1M
- -0.39%
- YTD
- 0.48%
- 6M
- 1.92%
- 1Y
- 6.66%
- 3Y*
- 8.72%
- 5Y*
- 4.34%
- 10Y*
- 4.55%
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TAXX vs. PGHY - Expense Ratio Comparison
Both TAXX and PGHY have an expense ratio of 0.35%.
Return for Risk
TAXX vs. PGHY — Risk / Return Rank
TAXX
PGHY
TAXX vs. PGHY - 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 Invesco Global Short Term High Yield Bond ETF (PGHY). 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 | PGHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.09 | 1.11 | +0.98 |
Sortino ratioReturn per unit of downside risk | 2.90 | 1.64 | +1.25 |
Omega ratioGain probability vs. loss probability | 1.54 | 1.22 | +0.31 |
Calmar ratioReturn relative to maximum drawdown | 4.23 | 1.51 | +2.73 |
Martin ratioReturn relative to average drawdown | 13.32 | 6.65 | +6.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TAXX | PGHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 1.11 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.58 | 0.59 | +1.99 |
Correlation
The correlation between TAXX and PGHY is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TAXX vs. PGHY - Dividend Comparison
TAXX's dividend yield for the trailing twelve months is around 3.61%, less than PGHY's 7.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF | 3.61% | 3.72% | 2.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGHY Invesco Global Short Term High Yield Bond ETF | 7.16% | 7.24% | 7.49% | 7.87% | 5.12% | 5.17% | 5.45% | 5.32% | 5.45% | 5.52% | 6.26% | 4.60% |
Drawdowns
TAXX vs. PGHY - Drawdown Comparison
The maximum TAXX drawdown since its inception was -0.91%, smaller than the maximum PGHY drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for TAXX and PGHY.
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Drawdown Indicators
| TAXX | PGHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.91% | -20.50% | +19.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.91% | -3.57% | +2.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.50% | — |
Current DrawdownCurrent decline from peak | -0.59% | -1.33% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -1.66% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 0.98% | -0.69% |
Volatility
TAXX vs. PGHY - Volatility Comparison
The current volatility for Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) is 0.43%, while Invesco Global Short Term High Yield Bond ETF (PGHY) has a volatility of 2.08%. This indicates that TAXX experiences smaller price fluctuations and is considered to be less risky than PGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TAXX | PGHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 2.08% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 0.89% | 3.39% | -2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.90% | 6.01% | -4.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.62% | 5.33% | -3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.62% | 7.03% | -5.41% |