BondBloxx IR+M Tax-Aware Short Duration ETF
TAXX
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- BondBloxx IR+M Tax-Aware Short Duration ETF (TAXX) is an actively managed exchange-traded fund that seeks attractive after-tax income, consistent with preservation of capital and prudent investment management. The fund invests under normal circumstances at least 50% of its total assets in U.S. dollar-denominated municipal bonds exempt from U.S. federal income tax and the remainder in taxable short duration fixed income securities, including asset-backed securities, corporate bonds, commercial mortgage-backed securities, and residential mortgage-backed securities; its portfolio emphasizes revenue bonds (58.5%), general obligation municipals (17.8%), and finance sector corporates (6.4%), with holdings diversified across issuers in states such as Texas, Illinois, New York, and Georgia. Sub-advised by Income Research + Management (IR+M), a Boston-based fixed income specialist founded in 1987 with over $128 billion in assets under management, TAXX employs a bottom-up relative value approach to dynamically adjust allocations between tax-exempt and taxable bonds for optimal after-tax returns. Issued by BondBloxx Investment Management Corporation, a Larkspur, California-based ETF provider founded in 2021 and focused exclusively on fixed income products listed on NYSE Arca, the fund commenced operations on March 14, 2024, with net assets of approximately $239 million as of December 2025. In March 2025, BondBloxx and IR+M expanded their tax-aware ETF lineup with the launch of the BondBloxx IR+M Tax-Aware Intermediate Duration ETF (TXXI) and the BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM), building on TAXX's one-year performance track record of outperforming the Bloomberg Municipal 1-3 Year Index by 1.03% as of February 28, 2025. Earlier, in October 2024, BondBloxx raised $27 million in a funding round led by Macquarie Asset Management to support expansion of its fund lineup, now exceeding 24 bond ETFs with over $3.4 billion in total assets, and technology enhancements. In December 2024, BondBloxx launched the BondBloxx Private Credit CLO ETF (PCMM), marking its entry into private credit exposure via collateralized loan obligations tied to U.S. middle-market companies. These developments reflect BondBloxx's ongoing strategic growth in targeted fixed income segments for institutional and retail investors seeking tax-efficient, short-duration income solutions.