TAXIvsCATFETF Comparison
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Northern Trust Intermediate Tax-Exempt Bond ETF (TAXI) and American Century California Municipal Bond ETF (CATF) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAXI is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.25% for CATF. TAXI is up 0.39% year-to-date (YTD) with +$274M in YTD flows. CATF performs worse with -0.64% YTD performance, and +$96M in YTD flows. Run a side-by-side ETF comparison of TAXI and CATF 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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TAXI vs CATF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXI CATF | +2.16%+1.50% | +0.46%-0.98% | +0.39%-0.64% | +1.42%-0.14% | n/an/a | n/an/a |
| Flows | TAXI CATF | +$147M+$38M | +$194M+$74M | +$274M+$96M | +$317M+$101M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXI CATF | +3.82%+5.16% | +2.43%+3.33% | n/an/a | n/an/a |
| Max drawdown | TAXI CATF | -3.77%-5.48% | -4.65%-6.34% | n/an/a | n/an/a |
| Max drawdown duration | TAXI CATF | 71d71d | 236d109d | n/an/a | n/an/a |
Trading data
TAXI | CATF | |
Last sale 10/26/2026 at 7:19 PM | $50.55 | $48.76 |
| Previous close 10/23/2026 | $50.34 | $48.47 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 26, 2026
1-year trailing difference
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CATF
is actively managed and doesn’t replicate an indexTAXI | CATF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/26/2026 at 7:19 PM
Live
Closed
TAXI | CATF | |
|---|---|---|
| Last price | $50.55 | $48.76 |
| 1D performance | +0.40% | +0.60% |
| AuM | $324.47 M | $154.83 M |
| E/R | 0.05% | 0.25% |
Characteristics
TAXI | CATF | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | American Century Investments |
| Benchmark | ICE Intermediate Term Focused Municipal Bond Index | - |
| N° of holdings | 908 | 109 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | July 18, 2024 |
| ESG | No | No |
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Exposure
Countries
TAXI
USA
39.43%
Other
60.57%
CATF
USA
39.08%
Other
60.92%
Sectors
TAXI
Municipal
39.43%
Other
60.57%
CATF
Municipal
39.08%
Other
60.92%
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Diversification
TAXI
Total weight of top 15 holdings out of 15
2.48%
CATF
Total weight of top 15 holdings out of 15
12.15%
Top 15 holdings
Data as of August 31, 2026
TAXI
Huron Valley School District, 5% 1may2040, USD (2026)
0.20%
US56879EHE23
0.17%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.17%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.17%
State of Washington, 5% 1jun2040, USD (2026F)
0.17%
US49151HBK14
0.16%
US64972JB721
0.16%
US46263RTS49
0.16%
US13013JGF75
0.16%
US09182TJE82
0.16%
US79467BKE47
0.16%
Black Belt Energy Gas District, 5% 1may2055, USD (2024)
0.16%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.16%
US915183Z598
0.16%
US09182TCG04
0.16%
CATF
California, 3.5% 1dec2030, USD
1.43%
Riverside Transportation Commission, 4% 1jun2046, USD
0.91%
US684133KT71
0.87%
California, 4% 1sep2043, USD
0.86%
US13032UN611
0.84%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.82%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.82%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
0.76%
US13048VV394
0.73%
US13032UX453
0.72%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.71%
Desert Community College District, 5% 1aug2051, USD (2016)
0.69%
US544647JV34
0.67%
US13032U6J26
0.67%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
0.67%
Frequently asked questions about TAXI and CATF
How have the TAXI and CATF ETFs performed in 2026?
As of October 23, 2026, TAXI is up 0.39% year-to-date (YTD), while CATF has lost -0.64%. That puts TAXI better performer ahead so far this year.
Which ETF is attracting more investor money: TAXI or CATF?
Year-to-date, the TAXI ETF saw +$274M in flows, compared to +$96M for CATF.
Which ETF is more volatile: TAXI or CATF?
Over the past year, TAXI had a volatility of 2.43%, while CATF experienced 3.33%.
Which ETF is bigger: TAXI or CATF?
As of October 23, 2026, TAXI holds $324.47 M in assets under management (AUM), while CATF manages $154.83 M.
What sectors do the TAXI and CATF ETFs invest in?
TAXI leans toward sectors like Municipal. Meanwhile, CATF focuses on Municipal.
What are the top holdings of the TAXI ETF and CATF ETF?
TAXI top holdings include Huron Valley School District, 5% 1may2040, USD (2026), US56879EHE23 and Energy Southeast, 5.5% 1nov2053, USD (2023A-1). CATF holds in its top three: California, 3.5% 1dec2030, USD, Riverside Transportation Commission, 4% 1jun2046, USD and US684133KT71.
Which ETF is more diversified: TAXI or CATF?
TAXI holds 2484 securities with 2.48% of its assets in the top 15. CATF has 312 securities and a top 15 weight of 12.15%.
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Latest news about TAXI & CATF
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXI
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