TAXTvsMNBDETF Comparison
VS
Northern Trust Tax-Exempt Bond ETF (TAXT) and ALPS Intermediate Municipal Bond ETF (MNBD) belong to the same industry segment: Municipal Bonds. TAXT's top 1 sector exposures are Municipal. In contrast, MNBD's top sector exposures are Municipal and Non-Corporate. TAXT is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.44% for MNBD. TAXT is up 0.02% year-to-date (YTD) with +$41M in YTD flows. MNBD performs better with 0.33% YTD performance, and +$14M in YTD flows. Run a side-by-side ETF comparison of TAXT and MNBD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
TAXT vs MNBD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXT MNBD | -0.81%-0.61% | -1.57%-1.29% | +0.02%+0.33% | +3.62%+3.06% | n/a+10.60% | n/an/a |
| Flows | TAXT MNBD | +$5M+$1M | +$6M+$2M | +$41M+$14M | +$51M+$16M | -+$26M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXT MNBD | +2.13%+2.14% | +2.12%+2.02% | n/a+2.99% | n/an/a |
| Max drawdown | TAXT MNBD | -2.06%-1.71% | -2.28%-2.27% | n/a-3.67% | n/an/a |
| Max drawdown duration | TAXT MNBD | 60d60d | 117d187d | n/a270d | n/an/a |
Trading data
TAXT | MNBD | |
Last sale 9/4/2026 at 1:30 PM | $50.28 | $25.40 |
| Previous close 09/03/2026 | $50.29 | $25.41 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 7, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
MNBD
is actively managed and doesn’t replicate an indexTAXT | MNBD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
TAXT | MNBD | |
|---|---|---|
| Last price | $50.28 | $25.40 |
| 1D performance | -0.02% | -0.05% |
| AuM | $64.37 M | $56.65 M |
| E/R | 0.05% | 0.44% |
Characteristics
TAXT | MNBD | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Northern Trust | ALPS |
| Benchmark | ICE All Maturity Focused Municipal Bond Index | - |
| N° of holdings | 534 | 87 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | May 19, 2022 |
| ESG | No | No |
Advertisement
Exposure
Countries
TAXT
USA
45.85%
Other
54.15%
MNBD
USA
44.9%
Other
55.1%
Sectors
TAXT
Municipal
45.85%
Other
54.15%
MNBD
Municipal
44.77%
Other
55.23%
Diversification
TAXT
Total weight of top 15 holdings out of 15
4.8%
MNBD
Total weight of top 15 holdings out of 15
20.56%
Top 15 holdings
Data as of July 31, 2026
TAXT
University of California, 5% 15may2052, USD (2022)
0.49%
New York Urban Development Corp., 5% 15mar2042, USD (2017C)
0.47%
New York Thruway Authority, 5% 15mar2049, USD
0.46%
US79771FLJ48
0.35%
US13077DUQ32
0.34%
US181000TQ31
0.30%
US84136HCT86
0.30%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.28%
Triborough Bridge and Tunnel Authority, 5% 15may2052, USD
0.27%
Indianapolis Local Public Improvement Bond Bank, 5% 1feb2033, USD
0.26%
South Dakota Conservancy District, 5% 1aug2056, USD (2026B)
0.26%
City of New York, 5.25% 1feb2053, USD (2026)
0.26%
Metropolitan Atlanta Rapid Transit Authority, 3.25% 1jul2039, USD (2017C)
0.26%
US250375NB42
0.26%
Virginia Public Building Authority, 5% 1aug2033, USD (2020A)
0.25%
MNBD
US84136HCT86
1.90%
US685363AC70
1.80%
University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B)
1.65%
US64972GDC50
1.62%
Pennsylvania Turnpike Commission, 0% 1dec2037, USD (8799D)
1.53%
Freddie Mac Multifamily Variable Rate Certificates, FRN 25aug2041, USD
1.51%
US83712D4A17
1.51%
Salt Verde Financial Corp., 5% 1dec2032, USD (2007-1)
1.26%
US6582074E20
1.20%
Wyoming Community Development Authority, 3.5% 1jun2052, USD (2022)
1.15%
US01728LFH06
1.14%
San Mateo Union High School District, 0% 1sep2041, USD (2011A)
1.12%
Modesto Irrigation District, FRN 1sep2037, USD (2007F)
1.08%
US617877DB88
1.07%
Triborough Bridge and Tunnel Authority, 0% 15nov2039, USD (2022D-1B)
1.01%
Frequently asked questions about TAXT and MNBD
How have the TAXT and MNBD ETFs performed in 2026?
As of September 4, 2026, TAXT is up 0.02% year-to-date (YTD), while MNBD has returned 0.33%. That puts MNBD better performer ahead so far this year.
Which ETF is attracting more investor money: TAXT or MNBD?
Year-to-date, the TAXT ETF saw +$41M in flows, compared to +$14M for MNBD.
Which ETF is more volatile: TAXT or MNBD?
Over the past year, TAXT had a volatility of 2.12%, while MNBD experienced 2.02%.
Which ETF is bigger: TAXT or MNBD?
As of September 4, 2026, TAXT holds $64.37 M in assets under management (AUM), while MNBD manages $56.65 M.
What sectors do the TAXT and MNBD ETFs invest in?
TAXT leans toward sectors like Municipal. Meanwhile, MNBD focuses on Municipal.
What are the top holdings of the TAXT ETF and MNBD ETF?
TAXT top holdings include University of California, 5% 15may2052, USD (2022), New York Urban Development Corp., 5% 15mar2042, USD (2017C) and New York Thruway Authority, 5% 15mar2049, USD. MNBD holds in its top three: US84136HCT86, US685363AC70 and University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B).
Which ETF is more diversified: TAXT or MNBD?
TAXT holds 1297 securities with 4.8% of its assets in the top 15. MNBD has 197 securities and a top 15 weight of 20.56%.
Advertisement
Latest news about TAXT & MNBD
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXT
Advertisement
Advertisement
