MNBDvsTAXTETF Comparison
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ALPS Intermediate Municipal Bond ETF (MNBD) and Northern Trust Tax-Exempt Bond ETF (TAXT) belong to the same industry segment: Municipal Bonds. MNBD's top 2 sector exposures are Municipal and Non-Corporate. In contrast, TAXT's top sector exposures are Municipal. MNBD is more expensive with a Total Expense Ratio (TER) of 0.44%, versus 0.05% for TAXT. MNBD is down -1.14% year-to-date (YTD) with +$14M in YTD flows. TAXT performs better with -0.53% YTD performance, and +$129M in YTD flows. Run a side-by-side ETF comparison of MNBD and TAXT below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MNBD vs TAXT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MNBD TAXT | -0.21%+0.65% | -2.59%-1.98% | -1.14%-0.53% | -0.43%+0.25% | +10.99%n/a | n/an/a |
| Flows | MNBD TAXT | +$8K+$80M | +$666K+$93M | +$14M+$129M | +$15M+$139M | +$25M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MNBD TAXT | +4.40%+4.76% | +2.76%+2.91% | +3.13%n/a | n/an/a |
| Max drawdown | MNBD TAXT | -4.77%-5.04% | -5.40%-5.64% | -5.40%n/a | n/an/a |
| Max drawdown duration | MNBD TAXT | 89d92d | 229d102d | 229dn/a | n/an/a |
Trading data
MNBD | TAXT | |
Last sale 10/16/2026 at 1:30 PM | $25.00 | $50.02 |
| Previous close 10/15/2026 | $24.99 | $49.95 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 18, 2026
1-year trailing difference
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MNBD
is actively managed and doesn’t replicate an indexMNBD | TAXT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
MNBD | TAXT | |
|---|---|---|
| Last price | $25.00 | $50.02 |
| 1D performance | +0.08% | +0.15% |
| AuM | $55.04 M | $152.69 M |
| E/R | 0.44% | 0.05% |
Characteristics
MNBD | TAXT | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | ALPS | Northern Trust |
| Benchmark | - | ICE All Maturity Focused Municipal Bond Index |
| N° of holdings | 88 | 573 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 19, 2022 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
MNBD
USA
46.14%
Other
53.86%
TAXT
USA
44.71%
Other
55.29%
Sectors
MNBD
Municipal
45.97%
Other
54.03%
TAXT
Municipal
44.71%
Other
55.29%
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Diversification
MNBD
Total weight of top 15 holdings out of 15
19.63%
TAXT
Total weight of top 15 holdings out of 15
4.41%
Top 15 holdings
Data as of August 31, 2026
MNBD
US84136HCT86
1.86%
University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B)
1.62%
Tarrant Cultural Education Facilities Finance Corp., FRN 15nov2063, USD (2026A&B)
1.58%
Pennsylvania Turnpike Commission, 0% 1dec2037, USD (8799D)
1.50%
Freddie Mac Multifamily Variable Rate Certificates, FRN 25aug2041, USD
1.48%
US83712D4A17
1.48%
Salt Verde Financial Corp., 5% 1dec2032, USD (2007-1)
1.24%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
1.22%
US6582074E20
1.18%
Wyoming Community Development Authority, 3.5% 1jun2052, USD (2022)
1.13%
US01728LFH06
1.10%
San Mateo Union High School District, 0% 1sep2041, USD (2011A)
1.08%
Modesto Irrigation District, FRN 1sep2037, USD (2007F)
1.06%
US57584Y8C61
1.05%
US451295ZZ58
1.05%
TAXT
University of California, 5% 15may2052, USD (2022)
0.45%
New York Urban Development Corp., 5% 15mar2042, USD (2017C)
0.43%
New York Thruway Authority, 5% 15mar2049, USD
0.42%
US79771FLJ48
0.32%
US13077DUQ32
0.31%
US181000TQ31
0.27%
US84136HCT86
0.27%
Triborough Bridge and Tunnel Authority, 5% 15may2052, USD
0.25%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.25%
Indianapolis Local Public Improvement Bond Bank, 5% 1feb2033, USD
0.24%
Metropolitan Atlanta Rapid Transit Authority, 3.25% 1jul2039, USD (2017C)
0.24%
City of New York, 5.25% 1feb2053, USD (2026)
0.24%
South Dakota Conservancy District, 5% 1aug2056, USD (2026B)
0.24%
Virginia Public Building Authority, 5% 1aug2033, USD (2020A)
0.23%
US250375NB42
0.23%
Frequently asked questions about MNBD and TAXT
How have the MNBD and TAXT ETFs performed in 2026?
As of October 16, 2026, MNBD is down -1.14% year-to-date (YTD), while TAXT has lost -0.53%. That puts TAXT better performer ahead so far this year.
Which ETF is attracting more investor money: MNBD or TAXT?
Year-to-date, the MNBD ETF saw +$14M in flows, compared to +$129M for TAXT.
Which ETF is more volatile: MNBD or TAXT?
Over the past year, MNBD had a volatility of 2.76%, while TAXT experienced 2.91%.
Which ETF is bigger: MNBD or TAXT?
As of October 16, 2026, MNBD holds $55.04 M in assets under management (AUM), while TAXT manages $152.69 M.
What sectors do the MNBD and TAXT ETFs invest in?
MNBD leans toward sectors like Municipal. Meanwhile, TAXT focuses on Municipal.
What are the top holdings of the MNBD ETF and TAXT ETF?
MNBD top holdings include US84136HCT86, University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B) and Tarrant Cultural Education Facilities Finance Corp., FRN 15nov2063, USD (2026A&B). TAXT holds in its top three: University of California, 5% 15may2052, USD (2022), New York Urban Development Corp., 5% 15mar2042, USD (2017C) and New York Thruway Authority, 5% 15mar2049, USD.
Which ETF is more diversified: MNBD or TAXT?
MNBD holds 198 securities with 19.63% of its assets in the top 15. TAXT has 1408 securities and a top 15 weight of 4.41%.
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Latest news about MNBD & TAXT
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXT
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