BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents
$48.12−0.17 (−0.35%)
- Expense ratio
- 0.35%
- Fund size
- $42M
- 1Y return
- −0.6%
- Yield · Last 12 months
- 3.36%
- Volume · 30D
- 0M sh
- NAV per share
- $48.29
- 52W range
The ETF.net TAXM Grade
Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 36Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 97Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 43Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 29Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 37Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.FScore 19Category rank
Our read on TAXM
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).
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 Holdings
- Bonds
- —
- 19%
- MASSACHUSETTS ST D 5% 07/01/31
Geography
- United States100.00%
TAXM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | TAXM |
|---|---|
| Year to date | −1.9% |
| 1 month | −2.2% |
| 3 months | −3.3% |
| 1 year | −0.6% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TAXM |
|---|---|---|
| 2026 YTD | −1.9% | |
| 2025 | +3.7% |
TAXM in the news
ETF.net Research hasn’t filed on TAXM yet — coverage lands here as it’s written.
TAXM Dividends
- 3.36%
- $1.62
- $0.14 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.14 |
| Aug 3, 2026 | Aug 6, 2026 | $0.14 |
| Jul 1, 2026 | Jul 7, 2026 | $0.14 |
| Jun 1, 2026 | Jun 4, 2026 | $0.15 |
| May 1, 2026 | May 6, 2026 | $0.09 |
| Apr 1, 2026 | Apr 7, 2026 | $0.08 |
| Mar 2, 2026 | Mar 5, 2026 | $0.15 |
| Feb 2, 2026 | Feb 5, 2026 | $0.18 |
| Dec 30, 2025 | Jan 5, 2026 | $0.16 |
| Dec 1, 2025 | Dec 4, 2025 | $0.14 |
| Nov 3, 2025 | Nov 6, 2025 | $0.14 |
| Oct 1, 2025 | Oct 6, 2025 | $0.12 |
TAXM Risk
- 3.7%
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.
- −0.27
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.
- −3.8%
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.
- 0.14
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TAXM Cost
- The middle half of Other Municipal Bond funds
- Median 0.30%
35 of the 62 Other Municipal Bond funds charge less.