Nomura National High-Yield Municipal Bond ETF

Frequently Asked Questions About HTAX

What are the top holdings of HTAX?

A machine-readable holdings disclosure for Nomura National High-Yield Municipal Bond ETF (HTAX) is not available from our data sources. Fund families sometimes register portfolio filings under a sibling share class or outside the SEC's structured datasets. Rather than estimate, we leave the section blank; the issuer's website carries the authoritative portfolio list.

What sectors does HTAX invest in?

Nomura National High-Yield Municipal Bond ETF (HTAX) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.

What sector is HTAX most exposed to?

HTAX's full sector breakdown is on the Sectors tab. The largest sector weight is shown there along with the rest of the allocation.

Is HTAX a US-only fund?

The country allocation card on this page shows HTAX's geographic exposure. Funds with > 95% US weight are effectively US-only; international or global funds will show meaningful weights across multiple countries.

What does HTAX invest in?

HTAX is an actively managed Exchange Traded Fund (ETF) designed to generate substantial current income that is exempt from federal taxation. It primarily achieves this by investing in high-yield municipal bonds issued by U.S. state and local governments, which finance diverse public projects. The fund's portfolio encompasses a range of municipal bond maturities, with its dollar-weighted average effective maturity typically falling between 5 and 30 years. The portfolio manager strategically adjusts these maturities to strike a balance between maximizing tax-exempt income and preserving capital. Prospective income from the fund is subject to fluctuations, influenced by prevailing interest rates and the specific composition of its holdings. The fund retains the flexibility to invest in a broad spectrum of municipal bond types, including, but not limited to, advance refunded bonds, revenue bonds, general obligation bonds, insured municipal bonds, private activity bonds, municipal leases, and certificates of participation. Should market conditions dictate, the manager may concentrate investments in particular bond categories or specific segments of the municipal bond market. Please note that effective December 1, 2025, the "Macquarie" portion of the fund's name will be replaced by "Nomura."