XHYD vs. TAXX

Last updated Jun 5, 2026

XHYD (BondBloxx US High Yield Consumer Non-Cyclicals Sector ETF) and TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) are both exchange-traded funds - XHYD is a High Yield Bonds fund tracking the ICE Diversified US Cash Pay High Yield Consumer Non-Cyclical, while TAXX is a Municipal Bonds fund actively managed by BondBloxx. XHYD is passively managed, while TAXX is actively managed. Over the past year, XHYD returned 5.28% vs 3.92% for TAXX. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

XHYD vs. TAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx US High Yield Consumer Non-Cyclicals Sector ETF (XHYD) and Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHYD achieves a 0.44% return, which is significantly lower than TAXX's 1.11% return.

XHYD

• 1D: 0.00%
• 1M: -0.60%
• YTD: 0.44%
• 6M: 0.86%
• 1Y: 5.28%
• 3Y*: 7.51%
• 5Y*: —
• 10Y*: —

TAXX

• 1D: 0.07%
• 1M: 0.37%
• YTD: 1.11%
• 6M: 1.41%
• 1Y: 3.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XHYD vs. TAXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XHYD BondBloxx US High Yield Consumer Non-Cyclicals Sector ETF	0.44%	8.33%	6.02%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.11%	4.52%	3.51%

Correlation

The correlation between XHYD and TAXX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.30

The correlation between XHYD and TAXX shifts across timeframes, from 0.14 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

XHYD vs. TAXX - Sectors Allocation Comparison

Sectors	XHYD	TAXX
Consumer Defensive	29.7%	-
Utilities	23.8%	-
Consumer Cyclical	9.7%	0.1%
Financial Services	2.0%	0.1%
Industrials	1.8%	0.1%
Basic Materials	1.0%	-
Communication Services	-	0.0%
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

XHYD vs. TAXX — Risk / Return Rank

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

XHYD

XHYD Risk / Return Rank: 50
XHYD Sharpe Ratio Rank: 45
XHYD Sortino Ratio Rank: 45
XHYD Omega Ratio Rank: 51
XHYD Calmar Ratio Rank: 48
XHYD Martin Ratio Rank: 60

TAXX

TAXX Risk / Return Rank: 80
TAXX Sharpe Ratio Rank: 72
TAXX Sortino Ratio Rank: 78
TAXX Omega Ratio Rank: 91
TAXX Calmar Ratio Rank: 84
TAXX Martin Ratio Rank: 73

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.

XHYD vs. TAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx US High Yield Consumer Non-Cyclicals Sector ETF (XHYD) and Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX). 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.

	XHYD	TAXX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.33	-0.78
Sortino ratio: Return per unit of downside risk	2.20	3.44	-1.24
Omega ratio: Gain probability vs. loss probability	1.32	1.59	-0.28
Calmar ratio: Return relative to maximum drawdown	2.36	4.45	-2.10
Martin ratio: Return relative to average drawdown	10.53	13.54	-3.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHYD vs. TAXX - Sharpe Ratio Comparison

The current XHYD Sharpe Ratio is 1.55, which is lower than the TAXX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of XHYD and TAXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XHYD	TAXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	2.33	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	2.60	-1.94

Drawdowns

XHYD vs. TAXX - Drawdown Comparison

The maximum XHYD drawdown since its inception was -11.02%, which is greater than TAXX's maximum drawdown of -0.91%. Use the drawdown chart below to compare losses from any high point for XHYD and TAXX.

Drawdown Indicators

	XHYD	TAXX	Difference
Max Drawdown Largest peak-to-trough decline	-11.02%	-0.91%	-10.11%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-0.88%	-1.61%
Max Drawdown (3Y) Largest decline over 3 years	-3.70%	—	—
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-2.04%	-0.17%	-1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	0.29%	+0.27%

Volatility

XHYD vs. TAXX - Volatility Comparison

BondBloxx US High Yield Consumer Non-Cyclicals Sector ETF (XHYD) has a higher volatility of 1.83% compared to Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) at 0.34%. This indicates that XHYD's price experiences larger fluctuations and is considered to be riskier than TAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHYD	TAXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	0.34%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	0.84%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	1.69%	+2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	1.59%	+5.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.15%	1.59%	+5.56%

XHYD vs. TAXX - Expense Ratio Comparison

Both XHYD and TAXX have an expense ratio of 0.35%.

Dividends

XHYD vs. TAXX - Dividend Comparison

XHYD's dividend yield for the trailing twelve months is around 5.31%, more than TAXX's 3.50% yield.

Position	TTM	2025	2024	2023	2022
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	3.50%	3.72%	2.70%	0.00%	0.00%
XHYD BondBloxx US High Yield Consumer Non-Cyclicals Sector ETF	5.31%	5.83%	6.32%	5.80%	5.01%

Frequently Asked Questions

Can I hold both XHYD and TAXX in my portfolio?

XHYD and TAXX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XHYD or TAXX?

XHYD has higher volatility (1.83%) compared to TAXX (0.34%). In terms of maximum drawdown, XHYD dropped -11.02% vs TAXX's -0.91%.

Which ETF is better, XHYD or TAXX?

On 1-year performance, XHYD leads with 5.28% vs 3.92% for TAXX. Both ETFs have the same 0.35% expense ratio. On volatility, TAXX has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHYD or TAXX?

Over the 1-year period, XHYD has performed better with a 5.28% return vs 3.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHYD or TAXX?

XHYD and TAXX have the same expense ratio: 0.35% per year.

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

XHYD has the higher dividend yield at 5.31%, compared with 3.50% for TAXX.

What is the main difference between XHYD and TAXX?

XHYD is categorized as High Yield Bonds, while TAXX is Municipal Bonds.

Which has better risk-adjusted returns?

TAXX currently has the higher Sharpe Ratio (2.33 vs 1.55), 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.