Nomura National High-Yield Municipal Bond ETF
$22.97+0.16 (+0.70%)
- 0.49%
- $84M
- −2.2%
- 4.89%
- 0M sh
- $22.77
- low $22.61high $25.08
The ETF.net HTAX Grade
C
Score 49 out of 100
- 15 of 19
Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F22 out of 100Rank 13 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A88 out of 100Rank 9 of 18Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C49 out of 100Rank 7 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C41 out of 100Rank 13 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C53 out of 100Rank 13 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D32 out of 100Rank 16 of 19
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
- 269
- 16%
- Us Dollar
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.
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HTAX$9,781
Returns run to the Oct 12, 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 | −3.0% |
| 1 month | −3.3% |
| 3 months | −6.9% |
| 1 year | −2.2% |
| 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 | −3.0% | |
| 2025 | +1.4% |
HTAX in the news
HTAX Dividends
- 4.89%
- $1.11
- $0.08 per share
- Monthly
Distribution history
HTAX Risk
- 7.0%
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.
- −0.54
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.
- −8.1%
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
0.49%
HTAX0.49%
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
12 of the 19 High-Yield Municipal Bonds funds charge less.
Other funds in High-Yield Municipal Bonds
- BEVYMEaton Vance High Income Municipal ETFExpense ratio 0.40%1 year return −1.2%
- BFCALFirst Trust California Municipal High Income ETFExpense ratio 0.49%1 year return −2.3%
- CJMHIJPMorgan High Yield Municipal ETFExpense ratio 0.52%1 year return −2.8%
- DMFLXFirst Trust Flexible Municipal High Income ETFExpense ratio 0.49%1 year return −2.7%
- DFMNYFirst Trust New York Municipal High Income ETFExpense ratio 0.49%1 year return −3.3%