Nomura Tax-Free USA Short Term ETF
$24.81+0.03 (+0.12%)
- 0.29%
- $11M
- +0.1%
- 3.20%
- 0M sh
- $24.81
- low $24.66high $25.75
The ETF.net STAX Grade
C
Score 46 out of 100
- 26 of 28
Score 46 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.D26 out of 100Rank 20 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D35 out of 100Rank 26 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D26 out of 100Rank 24 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D36 out of 100Rank 21 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D29 out of 100Rank 23 of 28
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
- 82
- 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.
Not enough history yet.Not enough history yet.Not enough history yet.
STAX$10,010
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 | STAX |
|---|---|
| Year to date | −0.4% |
| 1 month | −0.8% |
| 3 months | −1.9% |
| 1 year | +0.1% |
| 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 | STAX |
|---|---|---|
| 2026 YTD | −0.4% | |
| 2025 | +4.1% | |
| 2024 | +2.5% | |
| 2023 | +1.4% |
STAX in the news
STAX Dividends
- 3.20%
- $0.79
- $0.07 per share
- Monthly
Distribution history
STAX Risk
- 2.0%
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.
- −0.90
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.
- −2.7%
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
0.29%
STAX0.29%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
19 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- BPVIInvesco Floating Rate Municipal Income ETFExpense ratio 0.25%1 year return +2.2%
- CTAXXBondBloxx IR+M Tax-Aware Short Duration ETFExpense ratio 0.35%1 year return +1.5%
- CZMUNF/m Ultrashort Tax-Free Municipal ETFExpense ratio 0.30%1 year return +2.6%
- CBKMSBNY Mellon Municipal Short Duration ETFExpense ratio 0.35%1 year return —
- CAMUNabrdn Ultra Short Municipal Income Active ETFExpense ratio 0.74%1 year return —