TAXF
American Century Diversified Municipal Bond ETF

Price: $55.31
Change: $0.04 (-0.0%)
Category: National Munis
Last Updated:

Vitals

Structure ETF
Expense Ratio 0.29%
ETF Home Page Home page
Inception Sep 10, 2018
Index Tracked ACTIVE - No Index

Analyst Report

The American Century Diversified Municipal Bond ETF is an actively managed bond ETF that mixes investment-grade and high-yield municipal bonds to boost income while reducing taxes. Municipal bonds are a popular segment because they are generally exempt from exempt from federal taxes and, in some instances, may be exempt from state and/or local taxes. This makes munis especially appealing to investors in high tax brackets. Municipal bonds are issued by federal, state, and local governments and agencies to pay for everything from road projects to school buildings. They are typically considered a relatively safe investment since the issuer can impose taxes to repay the debt, though defaults are not unheard of. TAXF allocates up to 35% of its portfolio to riskier municipal securities, depending on market conditions. The fund is competitively priced compared with rivals in actively managed municipal bonds, though investors should compare performance and portfolio credit quality against some of the cheaper index options available.

ETF Database Themes

Category National Munis
Asset Class Bond
Region (General) North America
Region (Specific) U.S.
Bond Type(s) Municipal Bond
Bond Duration All-Term

FactSet Classifications

  • Segment Fixed Income:U.S. Government, Local Authority/Municipal Broad Credit Broad Maturities
  • Category Government, Local Authority/Municipal
  • Focus Broad Credit
  • Niche Broad Maturities
  • Strategy Active
  • Weighting Scheme Proprietary

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $52.33
  • 52 Week Hi $55.83
  • AUM $171.5 M
  • Shares 3.1 M

Historical Trading Data

  • 1 Month Avg. Volume 14,767
  • 3 Month Avg. Volume 18,357

Alternative ETFs in the ETF Database National Munis Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VTEB 0.06% $14.1 B 1 M 0.75%
Largest (AUM) MUB 0.07% $23.7 B 1 M 0.68%
Most Liquid (Volume) VTEB 0.06% $14.1 B 1 M 0.75%
Top YTD Performer RTAI 1.91% $19.3 M 6,495 10.40%

Alternative ETFs in the FactSet Fixed Income:U.S. Government, Local Authority/Municipal Broad Credit Broad Maturities Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest MUST 0.23% $133.0 M 36,760 1.86%
Largest (AUM) FMB 0.50% $2.4 B 154,734 2.04%
Most Liquid (Volume) FMB 0.50% $2.4 B 154,734 2.04%
Top YTD Performer MCEF 2.65% $19.2 M 9,240 7.59%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

TAXF ETF Database Category Average FactSet Segment Average
Number of Holdings 363 835 395
% of Assets in Top 10 15.23% 17.86% 30.05%
% of Assets in Top 15 18.80% 22.05% 36.01%
% of Assets in Top 50 39.83% 40.27% 57.18%

Size Comparison

TAXF ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

TAXF Valuation

This section compares the P/E ratio of this ETF to its peers.

TAXF
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
N/A
FactSet Segment Average
P/E Ratio
N/A

TAXF Dividend

This section compares the dividend yield of this ETF to its peers.

TAXF ETF Database Category Average FactSet Segment Average
Dividend $ 0.06 $ 0.05 $ 0.07
Dividend Date 2021-09-01 N/A N/A
Annual Dividend Rate $ 1.02 $ 0.60 $ 0.94
Annual Dividend Yield 1.84% 1.55% 2.55%

TAXF Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: 11.08 M 3 Month Net Flows: 41.61 M 6 Month Net Flows: 66.39 M 1 Year Net Flows: 101.75 M 3 Year Net Flows: 153.63 M 5 Year Net Flows: 153.63 M 10 Year Net Flows: 153.63 M

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for TAXF on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the National Munis with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity n/a n/a
Expenses n/a n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

TAXF Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

TAXF
Expense Ratio
0.29%
ETF Database Category Average
Expense Ratio
0.29%
FactSet Segment Average
Expense Ratio
0.90%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

TAXF does not have an ESG score. There are no ESG themes that map to this ETF.

TAXF Performance

This section shows how this ETF has performed relative to its peers.

TAXF ETF Database
Category Average
Factset Segment
Average
1 Month Return -0.38% -0.37% -0.81%
3 Month Return 0.10% 0.11% 0.21%
YTD Return 2.35% 1.27% 3.87%
1 Year Return 5.06% 2.59% 8.16%
3 Year Return 18.76% 8.85% 18.52%
5 Year Return N/A 5.95% 5.97%

TAXF Price and Volume Chart

Geographic Exposure

The following charts reflect the geographic spread of TAXF's underlying holdings.

Sector Breakdown

Asset Percentage
Municipal 91.78%
Other 8.2%
Bond Sector Percentage
Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 0.0%
15-20 Years 0.0%
20-30 Years 0.0%
30+ Years 0.0%
Asset Percentage
Municipal 91.78%
Other 8.2%

TAXF Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb.com Category.

5 Day Volatility
18.98%
Rank
26 of 50

20 Day Volatility
1.58%
Rank
23 of 50

50 Day Volatility
1.23%
Rank
31 of 50

200 Day Volatility
1.52%
Rank
22 of 50

Beta
0.07
Rank
16 of 50

Standard Deviation
1.02%
Rank
5 of 47

Technicals

  • 20 Day MA $55.47
  • 60 Day MA $55.57
  • MACD 15 Period -0.15
  • MACD 100 Period -0.08
  • Williams % Range 10 Day 95.24
  • Williams % Range 20 Day 95.24
  • RSI 10 Day 26
  • RSI 20 Day 36
  • RSI 30 Day 43
  • Ultimate Oscillator 51

Bollinger Bands

  • Lower Bollinger (10 Day) $55.32
  • Upper Bollinger (10 Day) $55.58
  • Lower Bollinger (20 Day) $55.35
  • Upper Bollinger (20 Day) $55.58
  • Lower Bollinger (30 Day) $55.37
  • Upper Bollinger (30 Day) $55.62

Support & Resistance

  • Support Level 1 $55.30
  • Support Level 2 $55.28
  • Resistance Level 1 $55.33
  • Resistance Level 2 $55.34

Stochastic

  • Stochastic Oscillator %D (1 Day) 42.54
  • Stochastic Oscillator %D (5 Day) 26.56
  • Stochastic Oscillator %K (1 Day) 47.90
  • Stochastic Oscillator %K (5 Day) 46.04

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

A fact sheet is not available for this ETF. Please visit the TAXF ETF home page for more information.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

Disclosures

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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