TAXTvsTFIETF Comparison
VS
Northern Trust Tax-Exempt Bond ETF (TAXT) and State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAXT is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.23% for TFI. TAXT is up 0.76% year-to-date (YTD) with +$163M in YTD flows. TFI performs worse with -1.39% YTD performance, and +$124M in YTD flows. Run a side-by-side ETF comparison of TAXT and TFI 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 TFI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXT TFI | +2.63%+1.70% | +0.34%-1.23% | +0.76%-1.39% | +1.28%-1.04% | n/a+11.99% | n/a-1.98% |
| Flows | TAXT TFI | +$110M+$116M | +$127M+$34M | +$163M+$124M | +$173M-$207M | --$286M | --$291M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXT TFI | +4.93%+5.56% | +3.03%+3.49% | n/a+4.11% | n/a+4.16% |
| Max drawdown | TAXT TFI | -4.92%-6.01% | -5.64%-7.00% | n/a-7.00% | n/a-14.88% |
| Max drawdown duration | TAXT TFI | 71d71d | 109d236d | n/a236d | n/a1513d |
Trading data
TAXT | TFI | |
Last sale 10/23/2026 at 1:30 PM | $50.53 | $43.80 |
| Previous close 10/22/2026 | $50.47 | $43.72 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 25, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
TAXT | TFI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
TAXT | TFI | |
|---|---|---|
| Last price | $50.53 | $43.80 |
| 1D performance | +0.12% | +0.18% |
| AuM | $189.04 M | $3.01 B |
| E/R | 0.05% | 0.23% |
Characteristics
TAXT | TFI | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Northern Trust | State Street Investment Management |
| Benchmark | ICE All Maturity Focused Municipal Bond Index | ICE 1+ Year AMT-Free Broad Municipal Index |
| N° of holdings | 573 | 813 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 19, 2025 | September 11, 2007 |
| ESG | No | No |
Advertisement
Exposure
Countries
TAXT
USA
44.71%
Other
55.29%
TFI
USA
42.6%
Other
57.4%
Sectors
TAXT
Municipal
44.71%
Other
55.29%
TFI
Municipal
42.6%
Other
57.4%
Advertisement
Diversification
TAXT
Total weight of top 15 holdings out of 15
4.41%
TFI
Total weight of top 15 holdings out of 15
2.91%
Top 15 holdings
Data as of August 31, 2026
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%
TFI
California, 5% 1nov2027, USD
0.23%
US574193VL92
0.20%
State of Washington, 5% 1feb2028, USD (2024A)
0.20%
US91412HWK57
0.20%
US373385LV30
0.20%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.20%
US64972GE598
0.20%
US55844RWX87
0.20%
US574204S201
0.19%
US677523KE13
0.19%
US764581KP80
0.19%
California Community Choice Financing Authority, 5% 1may2054, USD (2024A)
0.18%
California, 5% 1nov2032, USD
0.18%
US010831EC55
0.18%
California, 5% 1nov2031, USD
0.17%
Frequently asked questions about TAXT and TFI
How have the TAXT and TFI ETFs performed in 2026?
As of October 23, 2026, TAXT is up 0.76% year-to-date (YTD), while TFI has lost -1.39%. That puts TAXT better performer ahead so far this year.
Which ETF is attracting more investor money: TAXT or TFI?
Year-to-date, the TAXT ETF saw +$163M in flows, compared to +$124M for TFI.
Which ETF is more volatile: TAXT or TFI?
Over the past year, TAXT had a volatility of 3.03%, while TFI experienced 3.49%.
Which ETF is bigger: TAXT or TFI?
As of October 23, 2026, TAXT holds $189.04 M in assets under management (AUM), while TFI manages $3.01 B.
What sectors do the TAXT and TFI ETFs invest in?
TAXT leans toward sectors like Municipal. Meanwhile, TFI focuses on Municipal.
What are the top holdings of the TAXT ETF and TFI 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. TFI holds in its top three: California, 5% 1nov2027, USD, US574193VL92 and State of Washington, 5% 1feb2028, USD (2024A).
Which ETF is more diversified: TAXT or TFI?
TAXT holds 1408 securities with 4.41% of its assets in the top 15. TFI has 1916 securities and a top 15 weight of 2.91%.
Advertisement
Latest news about TAXT & TFI
Ask the Manager: Dave Abner on the Rise of Distributing Ladder ETFs
February 10, 2026
TAXT
Advertisement
Advertisement
