American Century Diversified Municipal Bond ETF (TAXF) Performance
TAXF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.9% since Dec 31, 2025
- 1 year
- −0.6% total return
- 5 years
- +0.6% a year
- Since first price
- +2.4% a year since 2018
TAXF trailing returns vs AGG, TLT, SPY
| Period | TAXF total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.3% | +0.9% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.4% | −2.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.4% | −4.2% | −1.5% | −3.8% | +7.8% |
| YTD | −0.9% | −3.8% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.6% | −4.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +14.0%+4.5%/yr | +2.3% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +3.0%+0.6%/yr | −11.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 12, 2018 | +21.0%+2.4%/yr | −3.1% | — | — | — |
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: TAXF vs AGG
From Sep 12, 2018: TAXF grew to $12,097, AGG to $11,496.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TAXF returns by calendar year
6 of 7 full years positive. Best 2019 (+9.1%), worst 2022 (−9.6%). 2026 is year to date.
TAXF annual returns table
| Year | TAXF | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.9% | −6.8% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.3% | −5.5% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.7% | −2.7% | +1.3% | −8.1% | +24.9% |
| 2023 | +7.3% | −5.6% | +5.7% | +2.8% | +26.2% |
| 2022 | −9.6% | −13.5% | −13.0% | −31.2% | −18.2% |
| 2021 | +2.7% | −2.0% | −1.8% | −4.6% | +28.7% |
| 2020 | +5.5% | −13.4% | +7.5% | +18.2% | +18.3% |
| 2019 | +9.1% | −1.6% | +8.5% | +14.1% | +31.2% |
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.
TAXF largest drawdowns
Now 3.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 19, 2021 | −13.9% | Oct 26, 2022 | Sep 10, 2025 | 1.3 years | 4.1 years |
| Mar 9, 2020 | −13.4% | Mar 23, 2020 | Nov 23, 2020 | 14 days | 9 months |
| Jul 6, 2026 | −6.8% | Sep 29, 2026 | not yet | 3 months | 4 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.
TAXF risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +3.2% | +0.0% | +2.1% |
| Volatility (annualized) | 5.8% | 6.6% | 6.2% |
| Sharpe ratio | -0.17 | -0.51 | -0.05 |
| Sortino ratio | -0.24 | -0.67 | -0.07 |
| Best month | +5.5% | +5.5% | +5.5% |
| Worst month | −4.1% | −4.1% | −5.7% |
| Best 12 months | +10.9% | +10.9% | +12.4% |
| Worst 12 months | −2.0% | −12.4% | −12.4% |
| Positive months | 64% | 52% | 60% |
| Beta vs S&P 500 | 0.29 | 0.28 | — |
| Correlation with S&P 500 | 0.61 | 0.66 | — |
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.
TAXF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 86 | −12.4% | +3.5% | +12.4% | 78% |
| 3-year (a year) | 62 | −1.9% | +1.1% | +6.0% | 61% |
| 5-year (a year) | 38 | +0.0% | +1.4% | +2.8% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
TAXF performance overview
American Century Diversified Municipal Bond ETF (TAXF) returned −0.6% over the past year and +0.6% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +2.4% a year, turning $10,000 into about $12,097. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −13.9%, from Jul 19, 2021 to Oct 26, 2022, and it took 2.9 years to get back to the old high. TAXF finished 6 of its 7 full calendar years with a gain; the best year was 2019 (+9.1%) and the worst 2022 (−9.6%). Volatility has been 6.2% a year.
Related: TAXF chart, TAXF dividends, TAXF bond profile. See the TAXF overview for the latest quote and fund facts.
TAXF performance FAQ
What is the TAXF return over the past year?
TAXF returned −0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.3%.
What is the average annual return of TAXF?
TAXF has returned +0.6% a year over 5 years, +2.4% a year since September 12, 2018 (total return, distributions reinvested).
How much would $10,000 invested in TAXF be worth?
$10,000 invested in TAXF at its first recorded close on September 12, 2018 would be worth about $12,097 on October 23, 2026 with distributions reinvested.
What was the worst year for TAXF?
The worst calendar year was 2022, with a total return of −9.6%. The best was 2019 at +9.1%.
What is the biggest drawdown of TAXF?
The largest peak-to-trough decline was −13.9% between July 19, 2021 and October 26, 2022. It recovered to the old high on September 10, 2025, 2.9 years after the bottom.
How volatile is TAXF?
Over the past 3 years TAXF had an annualized volatility of 5.8% and a Sharpe ratio of -0.17 (excess return over 1–3 month T-bills per unit of risk).