Nomura Tax-Free USA Short Term ETF
$24.86−0.10 (−0.40%)
- Expense ratio
- 0.29%
- Fund size
- $11M
- 1Y return
- +0.3%
- Yield · Last 12 months
- 3.18%
- Volume · 30D
- 0M sh
- NAV per share
- $25.02
- 52W range
The ETF.net STAX Grade
Score 44 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.DScore 26Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 30Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 11Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 38Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 28Category rank
Our read on STAX
CActively managed munis at the short end of the curve: federally tax-free income paid monthly, with capital preservation written into the mandate. A small, young fund in a category ruled by giant index trackers.
The fund seeks current interest income exempt from federal income tax while attempting to preserve capital through investments in short-term municipal obligations.
Why people hold it
- Active, not indexed: a manager picks the short-term municipal bonds, chasing income exempt from federal tax while attempting to preserve capital.
- Pays monthly, so the tax-exempt income shows up on a regular cadence rather than quarterly.
- 0.29% a year, roughly what the typical muni bond ETF charges, and that buys an active manager rather than an index rulebook.
Worth knowing
- Index beta is far cheaper: VTEB charges 0.03% and MUB 0.05%, versus 0.29% here. They track broad muni benchmarks across the maturity curve instead of trading actively.
- A small fund that trades thinly, which can widen the gap between bid and ask at the moment you place an order.
- Launched in December 2023, so there is limited history behind the manager's approach compared with long-running muni funds.
STAX Holdings
- Bonds
- —
- 20%
- NEW YORK TRANSN 5% 12/31
Geography
- United States100.00%
STAX 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 | STAX |
|---|---|
| Year to date | +0.1% |
| 1 month | −1.1% |
| 3 months | −1.3% |
| 1 year | +0.3% |
| 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 | STAX |
|---|---|---|
| 2026 YTD | +0.1% | |
| 2025 | +4.1% | |
| 2024 | +2.5% | |
| 2023 | +1.4% |
STAX in the news
ETF.net Research hasn’t filed on STAX yet — coverage lands here as it’s written.
STAX Dividends
- 3.18%
- $0.79
- $0.06 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 4, 2026 | $0.06 |
| Jul 31, 2026 | Aug 6, 2026 | $0.06 |
| Jun 30, 2026 | Jul 7, 2026 | $0.06 |
| May 29, 2026 | Jun 4, 2026 | $0.07 |
| Apr 30, 2026 | May 6, 2026 | $0.07 |
| Mar 31, 2026 | Apr 7, 2026 | $0.06 |
| Feb 27, 2026 | Mar 5, 2026 | $0.07 |
| Jan 30, 2026 | Feb 5, 2026 | $0.07 |
| Dec 24, 2025 | Dec 31, 2025 | $0.07 |
| Nov 28, 2025 | Dec 4, 2025 | $0.07 |
| Oct 31, 2025 | Nov 6, 2025 | $0.07 |
| Sep 30, 2025 | Oct 6, 2025 | $0.07 |
STAX Risk
- 1.7%
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.
- −0.68
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.
- −1.5%
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.
- 0.07
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
STAX Cost
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
19 of the 27 Short-Duration Municipal Bonds funds charge less.