VALQ vs. TAXF
VALQ (American Century STOXX U.S. Quality Value ETF) and TAXF (American Century Diversified Municipal Bond ETF) are both exchange-traded funds - VALQ is a Quality Factor fund tracking the iSTOXX American Century USA Quality Value Index, while TAXF is a Municipal Bonds fund actively managed by American Century. VALQ is passively managed, while TAXF is actively managed. Over the past 5 years, VALQ returned 8.85%/yr vs 0.70%/yr for TAXF. Their 0.08 correlation means their historical movements had little consistent relationship. Both charge a 0.29% expense ratio.
Performance
VALQ vs. TAXF - Performance Comparison
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Returns By Period
In the year-to-date period, VALQ achieves a 7.41% return, which is significantly higher than TAXF's 1.00% return.
VALQ
- 1D
- 0.64%
- 1M
- 1.46%
- 6M
- 2.65%
- YTD
- 7.41%
- 1Y
- 17.62%
- 3Y*
- 14.02%
- 5Y*
- 8.85%
- 10Y*
- —
- ALL TIME*
- 8.86%
TAXF
- 1D
- 0.16%
- 1M
- -1.60%
- 6M
- 0.13%
- YTD
- 1.00%
- 1Y
- 5.65%
- 3Y*
- 3.78%
- 5Y*
- 0.70%
- 10Y*
- —
- ALL TIME*
- 2.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.08M | $2.57M | $2.33M | |
| $217.95K | $474.87K | $401.20K |
VALQ vs. TAXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VALQ American Century STOXX U.S. Quality Value ETF | 7.41% | 10.58% | 16.71% | 13.87% | -7.73% | 27.05% | 0.64% | 24.52% | -13.11% |
TAXF American Century Diversified Municipal Bond ETF | 1.00% | 4.30% | 1.74% | 7.33% | -9.64% | 2.72% | 5.55% | 8.75% | 0.60% |
Correlation
The correlation between VALQ and TAXF is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.08 |
Over the past year, VALQ and TAXF have become more correlated (0.31) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
VALQ vs. TAXF — Risk / Return Rank
VALQ
TAXF
VALQ vs. TAXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century STOXX U.S. Quality Value ETF (VALQ) and American Century Diversified Municipal Bond ETF (TAXF). 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.
| VALQ | TAXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.39 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.94 | +0.32 |
| Martin ratioReturn relative to average drawdown | 6.47 | 6.53 | -0.05 |
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Drawdowns
VALQ vs. TAXF - Drawdown Comparison
The maximum VALQ drawdown since its inception was -38.19%, which is greater than TAXF's maximum drawdown of -13.93%. Use the drawdown chart below to compare losses from any high point for VALQ and TAXF.
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Drawdown Indicators
| VALQ | TAXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.19% | -13.93% | -24.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.85% | -2.93% | -4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -15.62% | -5.53% | -10.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | -13.79% | -6.40% |
Current DrawdownCurrent decline from peak | -0.45% | -1.65% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -3.09% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 0.87% | +1.86% |
Volatility
VALQ vs. TAXF - Volatility Comparison
American Century STOXX U.S. Quality Value ETF (VALQ) has a higher volatility of 3.08% compared to American Century Diversified Municipal Bond ETF (TAXF) at 1.24%. This indicates that VALQ's price experiences larger fluctuations and is considered to be riskier than TAXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VALQ | TAXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 1.24% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 2.54% | +5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.16% | 3.06% | +8.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 4.24% | +10.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 4.63% | +12.92% |
VALQ vs. TAXF - Expense Ratio Comparison
Both VALQ and TAXF have an expense ratio of 0.29%.
Dividends
VALQ vs. TAXF - Dividend Comparison
VALQ's dividend yield for the trailing twelve months is around 1.78%, less than TAXF's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TAXF American Century Diversified Municipal Bond ETF | 3.51% | 3.68% | 3.38% | 2.93% | 2.05% | 1.58% | 2.13% | 2.64% | 0.69% |
VALQ American Century STOXX U.S. Quality Value ETF | 1.78% | 1.88% | 1.58% | 1.76% | 2.71% | 1.58% | 2.08% | 2.31% | 2.35% |
Frequently Asked Questions
VALQ and TAXF have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VALQ has higher volatility (3.08%) compared to TAXF (1.24%). In terms of maximum drawdown, VALQ dropped -38.19% vs TAXF's -13.93%.
On 5-year performance, VALQ leads with 8.85% vs 0.70% for TAXF. Both ETFs have the same 0.29% expense ratio. On volatility, TAXF has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VALQ has performed better with a 8.85% return vs 0.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VALQ and TAXF have the same expense ratio: 0.29% per year.
TAXF has the higher dividend yield at 3.51%, compared with 1.78% for VALQ.
VALQ is categorized as Quality Factor, while TAXF is Municipal Bonds.
TAXF currently has the higher Sharpe Ratio (1.86 vs 1.59), 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.
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