XONE vs. TAXX

Last updated Jun 5, 2026

XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) are both exchange-traded funds - XONE is a Government Bonds fund tracking the Bloomberg US Treasury 1 Year Target Duration Index, while TAXX is a Municipal Bonds fund actively managed by BondBloxx. XONE is passively managed, while TAXX is actively managed. Over the past year, XONE returned 3.81% vs 3.92% for TAXX. At a 0.46 correlation, their price movements are largely independent. XONE charges 0.03%/yr vs 0.35%/yr for TAXX.

Performance

XONE vs. TAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) and Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XONE having a 1.16% return and TAXX slightly lower at 1.11%.

XONE

• 1D: 0.04%
• 1M: 0.23%
• YTD: 1.16%
• 6M: 1.52%
• 1Y: 3.81%
• 3Y*: 4.55%
• 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)

XONE vs. TAXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	1.16%	4.41%	4.26%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.11%	4.52%	3.51%

Correlation

The correlation between XONE and TAXX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.46

The correlation between XONE and TAXX shifts across timeframes, from 0.35 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XONE vs. TAXX — Risk / Return Rank

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

XONE

XONE Risk / Return Rank: 99
XONE Sharpe Ratio Rank: 99
XONE Sortino Ratio Rank: 99
XONE Omega Ratio Rank: 99
XONE Calmar Ratio Rank: 99
XONE Martin Ratio Rank: 99

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.

XONE vs. TAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.

	XONE	TAXX	Difference
Sharpe ratio: Return per unit of total volatility	7.03	2.33	+4.70
Sortino ratio: Return per unit of downside risk	16.77	3.44	+13.33
Omega ratio: Gain probability vs. loss probability	3.55	1.59	+1.95
Calmar ratio: Return relative to maximum drawdown	23.89	4.45	+19.44
Martin ratio: Return relative to average drawdown	138.39	13.54	+124.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XONE vs. TAXX - Sharpe Ratio Comparison

The current XONE Sharpe Ratio is 7.03, which is higher than the TAXX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of XONE 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

	XONE	TAXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.03	2.33	+4.70
Sharpe Ratio (All Time) Calculated using the full available price history	4.97	2.60	+2.37

Drawdowns

XONE vs. TAXX - Drawdown Comparison

The maximum XONE drawdown since its inception was -0.40%, smaller than the maximum TAXX drawdown of -0.91%. Use the drawdown chart below to compare losses from any high point for XONE and TAXX.

Drawdown Indicators

	XONE	TAXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-0.91%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-0.88%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-0.28%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.17%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.29%	-0.26%

Volatility

XONE vs. TAXX - Volatility Comparison

The current volatility for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) is 0.09%, while Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) has a volatility of 0.34%. This indicates that XONE experiences smaller price fluctuations and is considered to be less risky than TAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XONE	TAXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.34%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	0.34%	0.84%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	0.55%	1.69%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.86%	1.59%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	1.59%	-0.73%

XONE vs. TAXX - Expense Ratio Comparison

XONE has a 0.03% expense ratio, which is lower than TAXX's 0.35% expense ratio.

Dividends

XONE vs. TAXX - Dividend Comparison

XONE's dividend yield for the trailing twelve months is around 4.06%, 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%
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	4.06%	4.33%	5.21%	4.46%	1.17%

Frequently Asked Questions

Can I hold both XONE and TAXX in my portfolio?

XONE and TAXX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XONE or TAXX?

TAXX has higher volatility (0.34%) compared to XONE (0.09%). In terms of maximum drawdown, XONE dropped -0.40% vs TAXX's -0.91%.

Which ETF is better, XONE or TAXX?

On 1-year performance, TAXX leads with 3.92% vs 3.81% for XONE. On fees, XONE is cheaper at 0.03% per year. On volatility, XONE has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XONE or TAXX?

Over the 1-year period, TAXX has performed better with a 3.92% return vs 3.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XONE or TAXX?

XONE is cheaper with a 0.03% expense ratio, compared with 0.35% for TAXX.

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

XONE has the higher dividend yield at 4.06%, compared with 3.50% for TAXX.

What is the main difference between XONE and TAXX?

XONE is categorized as Government Bonds, while TAXX is Municipal Bonds. Their fees differ too: 0.03% for XONE and 0.35% for TAXX.

Which has better risk-adjusted returns?

XONE currently has the higher Sharpe Ratio (7.03 vs 2.33), 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.