ZMUN vs. TAXM
ZMUN (F/m Ultrashort Tax-Free Municipal ETF) and TAXM (BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents) are both Municipal Bonds funds. ZMUN is passively managed, while TAXM is actively managed. Their 0.14 correlation means their historical movements had little consistent relationship. ZMUN charges 0.30%/yr vs 0.35%/yr for TAXM.
Performance
ZMUN vs. TAXM - Performance Comparison
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Returns By Period
In the year-to-date period, ZMUN achieves a 2.09% return, which is significantly higher than TAXM's 0.14% return.
ZMUN
- 1D
- 0.04%
- 1M
- 0.20%
- 6M
- 1.82%
- YTD
- 2.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TAXM
- 1D
- -0.13%
- 1M
- -1.61%
- 6M
- -0.49%
- YTD
- 0.14%
- 1Y
- 4.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $158.92K | $254.95K | $177.53K | |
| $247.22K | $279.15K | $385.45K |
ZMUN vs. TAXM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.09% | 0.67% |
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 0.14% | 1.46% |
Correlation
The correlation between ZMUN and TAXM is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.14 |
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Return for Risk
ZMUN vs. TAXM — Risk / Return Rank
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TAXM
ZMUN vs. TAXM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Ultrashort Tax-Free Municipal ETF (ZMUN) and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM). 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.
| ZMUN | TAXM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.71 | — |
| Martin ratioReturn relative to average drawdown | — | 5.40 | — |
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Drawdowns
ZMUN vs. TAXM - Drawdown Comparison
The maximum ZMUN drawdown since its inception was -0.13%, smaller than the maximum TAXM drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for ZMUN and TAXM.
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Drawdown Indicators
| ZMUN | TAXM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.13% | -3.10% | +2.97% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.70% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.82% | +1.82% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -0.72% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.85% | — |
Volatility
ZMUN vs. TAXM - Volatility Comparison
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Volatility by Period
| ZMUN | TAXM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.28% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.54% | 2.79% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.54% | 3.49% | -2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 3.49% | -2.95% |
ZMUN vs. TAXM - Expense Ratio Comparison
ZMUN has a 0.30% expense ratio, which is lower than TAXM's 0.35% expense ratio.
Dividends
ZMUN vs. TAXM - Dividend Comparison
ZMUN's dividend yield for the trailing twelve months is around 2.92%, less than TAXM's 3.31% yield.
| Position | TTM | 2025 |
|---|---|---|
TAXM BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents | 3.01% | 2.75% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.92% | 0.70% |
Frequently Asked Questions
ZMUN and TAXM 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.
On fees, ZMUN is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMUN is cheaper with a 0.30% expense ratio, compared with 0.35% for TAXM.
TAXM has the higher dividend yield at 3.01%, compared with 2.92% for ZMUN.
They also come from different issuers: F/m and BondBloxx. Their fees differ too: 0.30% for ZMUN and 0.35% for TAXM.
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