TAXSvsTAXTETF Comparison
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Northern Trust Short-Term Tax-Exempt Bond ETF (TAXS) and Northern Trust Tax-Exempt Bond ETF (TAXT) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. Both TAXS and TAXT have the same Total Expense Ratio (TER) of 0.05%. TAXS is up 1.56% year-to-date (YTD) with +$120M in YTD flows. TAXT performs worse with 1.17% YTD performance, and +$169M in YTD flows. Run a side-by-side ETF comparison of TAXS 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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TAXS vs TAXT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXS TAXT | +2.12%+4.76% | +0.59%+0.42% | +1.56%+1.17% | +2.50%+1.71% | n/an/a | n/an/a |
| Flows | TAXS TAXT | +$41M+$116M | +$29M+$133M | +$120M+$169M | +$183M+$179M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXS TAXT | +2.02%+4.97% | +1.27%+3.06% | n/an/a | n/an/a |
| Max drawdown | TAXS TAXT | -1.97%-4.92% | -1.97%-5.64% | n/an/a | n/an/a |
| Max drawdown duration | TAXS TAXT | 59d75d | 59d113d | n/an/a | n/an/a |
Trading data
TAXS | TAXT | |
Last sale 10/27/2026 at 1:30 PM | $50.07 | $50.83 |
| Previous close 10/27/2026 | $50.06 | $50.79 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 28, 2026
1-year trailing difference
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TAXS | 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 10/27/2026 at 1:30 PM
Live
Closed
TAXS | TAXT | |
|---|---|---|
| Last price | $50.07 | $50.83 |
| 1D performance | +0.02% | +0.07% |
| AuM | $191.24 M | $195.90 M |
| E/R | 0.05% | 0.05% |
Characteristics
TAXS | TAXT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Northern Trust | Northern Trust |
| Benchmark | ICE Short Term Focused Municipal Bond Index | ICE All Maturity Focused Municipal Bond Index |
| N° of holdings | 782 | 573 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | August 19, 2025 |
| ESG | No | No |
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Exposure
Countries
TAXS
USA
42.95%
Other
57.05%
TAXT
USA
44.71%
Other
55.29%
Sectors
TAXS
Municipal
42.95%
Other
57.05%
TAXT
Municipal
44.71%
Other
55.29%
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Diversification
TAXS
Total weight of top 15 holdings out of 15
3.25%
TAXT
Total weight of top 15 holdings out of 15
4.41%
Top 15 holdings
Data as of August 31, 2026
TAXS
US64972GU289
0.54%
US45505MJL19
0.23%
US267169HD59
0.21%
Southeast Energy Authority, 5.5% 1jan2053, USD (2022A-1)
0.21%
US254845TN04
0.20%
US938782EQ84
0.20%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.19%
State of Ohio, 5% 15dec2030, USD (2019-1)
0.19%
Energy Southeast, 5.5% 1nov2053, USD (2023A-1)
0.18%
Kentucky, 5% 1apr2030, USD
0.18%
US604146GB05
0.18%
US84136JAE91
0.18%
Ohio Water Development Authority, 5% 1dec2029, USD (2019)
0.18%
US39081JGT97
0.18%
US842039EX31
0.18%
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 TAXS and TAXT
How have the TAXS and TAXT ETFs performed in 2026?
As of October 27, 2026, TAXS is up 1.56% year-to-date (YTD), while TAXT has returned 1.17%. That puts TAXS better performer ahead so far this year.
Which ETF is attracting more investor money: TAXS or TAXT?
Year-to-date, the TAXS ETF saw +$120M in flows, compared to +$169M for TAXT.
Which ETF is more volatile: TAXS or TAXT?
Over the past year, TAXS had a volatility of 1.27%, while TAXT experienced 3.06%.
Which ETF is bigger: TAXS or TAXT?
As of October 27, 2026, TAXS holds $191.24 M in assets under management (AUM), while TAXT manages $195.90 M.
What sectors do the TAXS and TAXT ETFs invest in?
TAXS leans toward sectors like Municipal. Meanwhile, TAXT focuses on Municipal.
What are the top holdings of the TAXS ETF and TAXT ETF?
TAXS top holdings include US64972GU289, US45505MJL19 and US267169HD59. 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: TAXS or TAXT?
TAXS holds 1947 securities with 3.25% 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 TAXS & TAXT
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXS
TAXT
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