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Launched

BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents

TAXMNYSE ArcaBondBloxxC

$48.63+0.03 (+0.06%)

As of Nov 2, 2026, 3:08 PM ET

C51/ 100

Rank 45 of 63 in Other Municipal Bond

C51/100Rank 45 of 63inOther Municipal Bond
Intraday session: up, 63 prints from 48.60 to 48.63. Range 48.59 to 48.63. Use the arrow keys to read each point.48.6148.6210 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$41M
1Y total return
−0.2%
Yield · Last 12 months
3.36%
Holdings
154
Avg volume · 30D
6.35K sh
52W range
low $46.89high $51.26
Launched

The ETF.net TAXM Grade

C

Score 51 out of 100

Category
Other Municipal Bond⁠
Rank
45 of 63
Six-pillar profile for TAXM. Scores out of 100: Cost 35, Risk 49, Mission 100, Tradability 29, Holdings 38, Durability 18. Strongest: Mission (100). Weakest: Durability (18). Leans toward Mission.

Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D35 out of 100
    Rank 37 of 63

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 59

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 28 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D29 out of 100
    Rank 52 of 63

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D38 out of 100
    Rank 52 of 63

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F18 out of 100
    Rank 57 of 63

Our read on TAXM

ETF.net Research

In short

CSingle-state muni investing, ETF-style: IR+M actively picks short-duration municipal and taxable bonds screened for after-tax income for Massachusetts residents. Narrow by design, and young (launched 2025).

Stated mandate

The Fund seeks attractive after-tax income while preserving capital. It actively manages a diversified portfolio of U.S.-dollar municipal and taxable short-duration fixed-income securities selected for relatively attractive after-tax income for Massachusetts residents.

Why people hold it

  • A rare state-level mandate in an ETF: the portfolio targets after-tax income specifically for Massachusetts residents, not the national muni average.
  • Active, not index-bound. IR+M builds a diversified mix of muni and taxable short-duration bonds, with capital preservation named alongside income in the objective.
  • Holdings line up closely with the stated mandate, one of the tighter mandate-to-portfolio matches among muni funds.
  • Pays monthly, the usual cadence income-focused bond investors look for.

Worth knowing

  • At 0.35%, it costs more than its muni peer group's typical fee and far more than broad index munis like VTEB (0.03%) or MUB (0.05%).
  • Small and thinly traded, so spreads can run wider than in mainstream muni ETFs.
  • Launched in 2025, so the track record is short and the state-specific focus is narrower than a national muni portfolio.

TAXM Performance

Launched Mar 13, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
TAXM$9,976
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TAXM $9,976. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TAXM. Periods over one year show the average yearly return.
PeriodTAXM
Year to date−0.6%
1 month+3.2%
3 months−0.8%
1 year−0.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TAXM
YearReturn barTAXM
2026 YTD−0.6%
2025+3.7%

Since listing, Mar 13, 2025

TAXM in the news

TAXM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.36%Last 12 months
Payout per share
$1.64Last 12 months
Last payment
$0.13 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 18 payments from 2025 to 2026 YTD. May 1, 2025 $0.23; Jun 2, 2025 $0.15; Jul 1, 2025 $0.14; Aug 1, 2025 $0.15; Sep 2, 2025 $0.15; Oct 1, 2025 $0.12; Nov 3, 2025 $0.14; Dec 1, 2025 $0.14; Dec 30, 2025 $0.16; Feb 2, 2026 $0.18; Mar 2, 2026 $0.15; Apr 1, 2026 $0.08; May 1, 2026 $0.09; Jun 1, 2026 $0.15; Jul 1, 2026 $0.14; Aug 3, 2026 $0.14; Sep 1, 2026 $0.14; Oct 1, 2026 $0.13. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 5, 2026$0.15
Oct 1, 2026Oct 6, 2026$0.13
Sep 1, 2026Sep 4, 2026$0.14
Aug 3, 2026Aug 6, 2026$0.14
Jul 1, 2026Jul 7, 2026$0.14
Jun 1, 2026Jun 4, 2026$0.15
May 1, 2026May 6, 2026$0.09
Apr 1, 2026Apr 7, 2026$0.08
Mar 2, 2026Mar 5, 2026$0.15
Feb 2, 2026Feb 5, 2026$0.18
Dec 30, 2025Jan 5, 2026$0.16
Dec 1, 2025Dec 4, 2025$0.14

See all 19 payments⁠

$10,000 in TAXM 1 year ago paid $325 in dividends.⁠

TAXM Risk

Risk pillarC49 out of 100Rank 28 of 63 in Other Municipal Bond
How much the fund’s monthly returns vary, scaled to a year.
5.4%
Annualised · 19 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.32
vs 3-month T-bills · 19 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−6.2%
19 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.13
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

TAXM Cost

Compare TAXM and VTEB

Overpaying vs VTEB, tied cheapest in Other Municipal Bond

$6,488

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TAXM 0.35%

    $7,126

  • VTEB 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • TAXM 0.35%
  • VTEB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530TAXM $7,126VTEB $638

Year by year

YearTAXMVTEBOverpaying
10$634$55$579
20$2,454$216$2,238
30$7,126$638$6,488

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