Nomura Tax-Free USA Short Term ETF

Frequently Asked Questions About STAX

What does STAX invest in?

Ordinarily, the fund commits to deploying at least 80% of its total assets, including any capital acquired through borrowing for investment purposes, into financial instruments whose earnings are free from federal income tax, encompassing the federal alternative minimum tax. This fundamental investment principle is binding and requires prior shareholder approval for any modifications.

What is the expense ratio of STAX?

Nomura Tax-Free USA Short Term ETF (STAX) charges an expense ratio of 0.29%. This is the annual fee deducted from fund assets to cover management and operations.

What is STAX's dividend yield?

STAX's trailing-twelve-month yield is 3.16%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of STAX?

Effective duration measures STAX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. STAX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of STAX?

STAX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of STAX?

Yield to maturity (YTM) is the total return you'd earn from STAX if every bond in the portfolio is held to maturity at the current price. STAX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.