BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM)

The BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) is an actively managed bond fund sponsored by BondBloxx Investment Management, with portfolio management provided by Boston-based fixed income manager Income Research + Management (IR+M).

The fund is designed around the tax situation of Massachusetts residents. Rather than holding only municipal bonds, it compares the after-tax value of Massachusetts municipal securities, other municipal bonds and taxable investment-grade bonds such as Treasuries and corporates, and allocates among them in an effort to maximize income after federal and Massachusetts state taxes.

Its objective is to generate tax-efficient income for in-state investors while maintaining a high-quality fixed income portfolio.