MFLX vs TAXM
First Trust Flexible Municipal High Income ETF vs BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents
Which is better, MFLX or TAXM?
Nearly the same fund. TAXM costs less.
TAXM has a lower expense ratio. TAXM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MFLX | TAXM |
|---|---|---|
| Expense Ratio | 0.93% | 0.35%Best |
| AUM | $20M | $40M |
| Dividend Yield | 4.51% | 3.43% |
| Holdings | 160 | 162 |
| YTD Return | -3.07%Best | -3.22% |
| 1Y Return | -2.70% | -2.42%Best |
| 3Y Return (annualized) | +4.24% | - |
| 5Y Return (annualized) | -1.53% | - |
| Volatility (annualized) | 6.7% | 4.7%Best |
| Max Drawdown | -8.8% | -6.2%Best |
| $10,000 over 1.6 years | $9,990 | $10,040Best |
| Fund Family | First Trust Portfolios (US) | BondBloxx |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Sep 27, 2016 | Mar 13, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Mar 13, 2025 to Oct 14, 2026 (1.6 years).
MFLX vs TAXM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.6 years both funds cover.
MFLX vs TAXM Performance
First Trust Flexible Municipal High Income ETF (MFLX) is an ETF from First Trust Portfolios (US) and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) is an ETF from BondBloxx. Over the past year MFLX returned -2.70% while TAXM returned -2.42%. Year to date, MFLX is down 3.07% versus a loss of 3.22% for TAXM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MFLX has been the more volatile fund, with annualized monthly volatility of 6.7% compared with 4.7% for TAXM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -8.8% for MFLX and -6.2% for TAXM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MFLX charges 0.93% per year while TAXM charges 0.35%. On a $10,000 position that is $93 vs $35 annually, a gap of $58 per year that compounds over a long holding period. On income, MFLX currently yields 4.51% against 3.43% for TAXM.
Holdings Overlap
We hold position weights for 1 holding in MFLX and 69 in TAXM, totalling 0.5% and 32.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in MFLX and 69 in TAXM, against full books of 160 and 162.
You are not choosing between two funds in isolation.
Whichever of MFLX and TAXM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MFLX or TAXM?
MFLX has an expense ratio of 0.93% while TAXM charges 0.35%. TAXM is the cheaper option, by $58 a year on a $10,000 investment.
Which performed better, MFLX or TAXM?
Over the past year MFLX returned -2.70% vs -2.42% for TAXM, so TAXM leads on 1-year performance. Over the longest common window we track (2 years), MFLX annualized -0.06% vs +0.25% for TAXM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MFLX or TAXM?
MFLX has been the more volatile fund at 6.7% annualized versus 4.7% for TAXM. Worst drawdown: MFLX -8.8% vs TAXM -6.2%.
Should I hold both MFLX and TAXM?
MFLX and TAXM have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, MFLX or TAXM?
MFLX yields 4.51% while TAXM yields 3.43%, so MFLX currently pays the higher dividend yield.
Is TAXM better than MFLX?
TAXM has a lower expense ratio. TAXM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.