Intermediate Municipal Income ETF (TAXE) Performance
TAXE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.1% since Dec 31, 2025
- 1 year
- +0.6% total return
- Since first price
- +7.5% since 2024
TAXE trailing returns vs AGG, TLT, SPY
| Period | TAXE total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.7% | +1.3% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.4% | −1.3% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.2% | −3.1% | −1.5% | −3.8% | +7.8% |
| YTD | +0.1% | −2.7% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.6% | −3.0% | −1.1% | −6.9% | +14.4% |
| Since inceptionJul 10, 2024 | +7.5% | −0.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TAXE vs AGG
From Jul 10, 2024: TAXE grew to $10,749, AGG to $10,737.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TAXE returns by calendar year
1 of 1 full years positive. Best 2025 (+5.8%), worst 2025 (+5.8%). 2026 is year to date.
TAXE annual returns table
| Year | TAXE | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.1% | −5.5% | −1.0% | −3.4% | +12.3% |
| 2025 | +5.8% | −3.7% | +7.2% | +4.3% | +17.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TAXE largest drawdowns
Now 2.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 27, 2026 | −5.5% | Sep 29, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
TAXE risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +1.8% |
| Volatility (annualized) | 4.2% |
| Sharpe ratio | -0.53 |
| Sortino ratio | -0.59 |
| Best month | +1.9% |
| Worst month | −3.2% |
| Best 12 months | +7.2% |
| Worst 12 months | −0.9% |
| Positive months | 69% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TAXE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 16 | −0.9% | +5.3% | +7.2% | 94% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
TAXE performance overview
Intermediate Municipal Income ETF (TAXE) returned +0.6% over the past year, with distributions reinvested. Since its first recorded price on Jul 10, 2024 it has returned +7.5%. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −5.5%, from Feb 27, 2026 to Sep 29, 2026; the fund has not yet regained that high. Volatility has been 4.2% a year.
Related: TAXE chart, TAXE dividends, TAXE bond profile. See the TAXE overview for the latest quote and fund facts.
TAXE performance FAQ
What is the TAXE return over the past year?
TAXE returned +0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.0%.
How much would $10,000 invested in TAXE be worth?
$10,000 invested in TAXE at its first recorded close on July 10, 2024 would be worth about $10,749 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of TAXE?
The largest peak-to-trough decline was −5.5% between February 27, 2026 and September 29, 2026. It has not yet recovered to that high; it is 2.3% below its peak.
How volatile is TAXE?
Over the past history TAXE had an annualized volatility of 4.2% and a Sharpe ratio of -0.53 (excess return over 1–3 month T-bills per unit of risk).