LTAX ETF — Nomura Tax-Free USA ETF

Nomura Tax-Free USA ETF (LTAX)

LTAX is an ETF. As of August 19, 2026, its distribution rate is 4.03%, its trailing-12-month yield is 2.04%, its expense ratio is 0.39%. Dividend Vision Distribution Safety Score™ is 50/100 (Caution). Fund total return is 0.6% over the past 0.6 years, 10.6 points behind SPY at 11.2%.

At the current 4.03% distribution rate, a $10,000 investment would generate approximately $403 per year, or $33.58 per month on an equivalent basis.

Nomura Tax-Free USA ETF is an exchange-traded fund that invests at least 80% of its assets in federal tax-exempt municipal bonds and related fixed-income securities. The fund provides a current distribution rate in the moderate range, distributes income monthly, and carries an expense ratio of 0.39%. It appeals primarily to investors in higher tax brackets seeking tax-advantaged income from municipal bonds.

LTAX performance versus SPY

Data as of August 19, 2026.

Fund total return is 0.6% over the past 0.6 years, 10.6 points behind SPY at 11.2%.

LTAX key facts

Data as of August 19, 2026.

Distribution Safety Score™

50 · Caution

Issuer

Nomura

Asset type

ETF

Asset class

Fixed Income

Inception date

01/12/2026

Expense ratio

0.39%

Distribution rate

4.03%

Distribution frequency

Monthly

Trailing yield

2.04%

Last close

$24.71

AUM

$6,196,307

Average volume

6.0

Last dividend

$0.0830

Ex-dividend date

07/31/2026

Payment date

08/06/2026

How Dividend Vision calculates yield and returns

Distribution rate (4.03%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (2.04%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Nomura; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

LTAX risks and drawbacks

Total return has trailed SPY over the available window.

Who may consider LTAX — and who may not

LTAX may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More funds from Nomura.