Nomura National High-Yield Municipal Bond ETF
$23.36−0.28 (−1.16%)
- Expense ratio
- 0.49%
- Fund size
- $58M
- 1Y return
- +1.1%
- Yield · Last 12 months
- 4.77%
- Volume · 30D
- 0M sh
- NAV per share
- $23.61
- 52W range
The ETF.net HTAX Grade
Score 43 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.FScore 19Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 78Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 46Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 17Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 71Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 32Category rank
Our read on HTAX
CMost muni ETFs stick to the safest paper. HTAX heads down the credit ladder on purpose, running Macquarie's flagship high-yield muni playbook in an ETF: active, federally tax-exempt income from medium- and lower-grade bonds, paid monthly.
The fund seeks a high level of current interest income that is exempt from regular federal income tax, primarily by investing in municipal securities.
Why people hold it
- Runs the same yield-focused objective and process as Macquarie's flagship high-yield muni mutual fund, managed by the firm's municipal bond team.macquarie.com
- At least 80% of net assets sits in municipal securities whose income is exempt from federal income tax, tilted toward medium- and lower-grade issuers.sec.gov
- Pays monthly, and the 0.49% management fee is the whole sticker: no 12b-1 fees, no separate other expenses.sec.gov
Worth knowing
- At 0.49% it costs well above plain index muni ETFs like VTEB (0.03%) and MUB (0.05%). Active credit work is what you are paying up for.
- Medium- and lower-grade munis carry more default and liquidity risk than an investment-grade index fund, so prices can swing harder when credit gets nervous.sec.gov
- A 2025 launch with a short record, and it trades lightly next to the category's giants, which can mean wider bid-ask spreads.
HTAX Holdings
- Bonds
- —
- 13%
- PUERTO RICO 5% 07/58
Geography
- United States100.00%
HTAX 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 | HTAX |
|---|---|
| Year to date | +0.2% |
| 1 month | −2.4% |
| 3 months | −3.7% |
| 1 year | +1.1% |
| 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 | HTAX |
|---|---|---|
| 2026 YTD | +0.2% | |
| 2025 | +1.4% |
HTAX in the news
ETF.net Research hasn’t filed on HTAX yet — coverage lands here as it’s written.
HTAX Dividends
- 4.77%
- $1.13
- $0.10 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 4, 2026 | $0.10 |
| Jul 31, 2026 | Aug 6, 2026 | $0.10 |
| Jun 30, 2026 | Jul 7, 2026 | $0.10 |
| May 29, 2026 | Jun 4, 2026 | $0.09 |
| Apr 30, 2026 | May 6, 2026 | $0.10 |
| Mar 31, 2026 | Apr 7, 2026 | $0.09 |
| Feb 27, 2026 | Mar 5, 2026 | $0.08 |
| Jan 30, 2026 | Feb 5, 2026 | $0.09 |
| Dec 24, 2025 | Dec 31, 2025 | $0.10 |
| Nov 28, 2025 | Dec 4, 2025 | $0.10 |
| Oct 31, 2025 | Nov 6, 2025 | $0.10 |
| Sep 30, 2025 | Oct 6, 2025 | $0.09 |
HTAX Risk
- 6.1%
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.
- −0.12
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.
- −6.1%
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.
- 0.15
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HTAX Cost
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
13 of the 19 High-Yield Municipal Bonds funds charge less.