MUST vs TAXM
Columbia Multi-Sector Municipal Income ETF vs BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents
Which is better, MUST or TAXM?
Nearly the same fund. MUST costs less.
MUST has a lower expense ratio. MUST led over the full window, TAXM over 1Y. 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 | MUST | TAXM |
|---|---|---|
| Expense Ratio | 0.23%Best | 0.35% |
| AUM | $509M | $40M |
| Dividend Yield | 3.59% | 3.43% |
| Holdings | 1,292 | 162 |
| YTD Return | -4.34% | -3.22%Best |
| 1Y Return | -2.87% | -2.42%Best |
| 3Y Return (annualized) | +2.83% | - |
| 5Y Return (annualized) | -0.37% | - |
| Volatility (annualized) | 5.7% | 4.7%Best |
| Max Drawdown | -8.4% | -6.2%Best |
| $10,000 over 1.6 years | $10,074Best | $10,040 |
| Fund Family | Columbia Threadneedle Investments | BondBloxx |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Oct 10, 2018 | 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).
MUST 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.
MUST vs TAXM Performance
Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) is an ETF from BondBloxx. Over the past year MUST returned -2.87% while TAXM returned -2.42%. Year to date, MUST is down 4.34% versus a loss of 3.22% for TAXM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUST has been the more volatile fund, with annualized monthly volatility of 5.7% 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 -8.4% for MUST 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
MUST charges 0.23% per year while TAXM charges 0.35%. On a $10,000 position that is $23 vs $35 annually, a gap of $12 per year that compounds over a long holding period. On income, MUST currently yields 3.59% against 3.43% for TAXM.
Holdings Overlap
We hold position weights for 356 holdings in MUST and 69 in TAXM, totalling 52.2% and 32.5% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 9 positions appear in both.
9 positions in common, counted across the 356 positions we hold weights for in MUST and 69 in TAXM, against full books of 1,292 and 162.
Top Shared Holdings
| Stock | Weight in MUST | Weight in TAXM | Difference |
|---|---|---|---|
| NY MTATRN 5 11/15/20Ny Met Transprtn Auth Rev 5.00% 2050-11-15 | 0.11% | 1.32% | 1.21% |
| TX TXSTRN 5 08/15/20Texas Transn Commn Cent Tex Tp 5% Aug 15, 2040 | 0.15% | 1.27% | 1.12% |
| FL BROEDU 5 07/01/20Broward Cnty Fla Sch Brd Ctfs 5% Jul 01, 2034 | 0.27% | 1.09% | 0.82% |
| MA MASDEV 5 10/01/20Massachusetts Development Finance Agency 5% 10/01/2048 | 0.07% | 0.72% | 0.65% |
| MA MASDEV 5 07/01/20Massachusetts St D 5 7/55 5 | 0.18% | 0.59% | 0.41% |
| NJ NJSTRN 5 01/01/20Nj Tpk 5% 1/1/2045 | 0.21% | 0.48% | 0.27% |
| IL ILSGEN 5 08/15/20Illinois (State Of) Finance Authority (University Of Chicago Medical), Series 2022 A, Rb | 0.09% | 0.60% | 0.51% |
| IL ILSTRN 5 01/01/20Illinois St Toll Hwy Auth Toll 5% Jan 01, 2045 | 0.12% | 0.41% | 0.29% |
| FL SMIMED 5 08/15/20City Of South Miami Health Facilities Authority Inc 5.0% 08/15/2047 | 0.19% | 0.22% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of MUST 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, MUST or TAXM?
MUST has an expense ratio of 0.23% while TAXM charges 0.35%. MUST is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, MUST or TAXM?
Over the past year MUST returned -2.87% vs -2.42% for TAXM, so TAXM leads on 1-year performance. Over the longest common window we track (2 years), MUST annualized +0.46% vs +0.25% for TAXM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MUST or TAXM?
MUST has been the more volatile fund at 5.7% annualized versus 4.7% for TAXM. Worst drawdown: MUST -8.4% vs TAXM -6.2%.
Should I hold both MUST and TAXM?
MUST 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, MUST or TAXM?
MUST yields 3.59% while TAXM yields 3.43%, so MUST currently pays the higher dividend yield.
Is TAXM better than MUST?
MUST has a lower expense ratio. MUST led over the full window, TAXM over 1Y. 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.