STAX ETF — Nomura Tax-Free USA Short Term ETF

Nomura Tax-Free USA Short Term ETF (STAX)

STAX is an ETF. its distribution rate is 2.85%, its trailing-12-month yield is 3.18%, its expense ratio is 0.29%. Dividend Vision Distribution Safety Score™ is 90/100 (Safe). Total return is 8.7% over the past 2.8 years, 65.0 points behind SPY at 73.7%.

At the current 2.85% distribution rate, a $10,000 investment would generate approximately $285 per year, or $23.75 per month.

Nomura Tax-Free USA Short Term ETF is an ETF that invests at least 80% of its assets in federal tax-exempt securities, focusing on shorter-duration municipal bonds and related fixed-income instruments. The fund carries a modest current distribution rate with monthly payouts and charges an expense ratio of 0.29%. It appeals to investors in higher tax brackets seeking tax-advantaged income from municipal securities with lower interest-rate sensitivity.

STAX performance versus SPY

Price and return data through 2026-09-18.

Total return is 8.7% over the past 2.8 years, 65.0 points behind SPY at 73.7%. Over the past year its total return — price change plus distributions reinvested — is 0.5%. Its deepest 1-year drawdown was 1.3%.

STAX key facts

Distribution Safety Score™

90 · Safe

Safety-Adjusted Yield

2.56%

Issuer

Nomura

Asset type

ETF

Asset class

Fixed Income

Inception date

11/28/2023

Expense ratio

0.29%

Distribution rate

2.85%

Distribution frequency

Monthly

Trailing yield

3.18%

Last close

$25.02 (as of 2026-09-18)

NAV

$25.05

Premium / discount

0.12% discount

AUM

$11,276,803

Average volume

317.0

Last dividend

$0.0594

Last ex-dividend date

08/31/2026

Last payment date

09/04/2026

Beta

0.0187

How Dividend Vision calculates yield and returns

Distribution rate (2.85%) 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 (3.18%) 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. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

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.

STAX risks and drawbacks

STAX's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 1.3%.

Who may consider STAX — and who may not

STAX may suit someone looking for a high Distribution Safety Score, 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

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