HTAX Fees and Costs — Nomura National High-Yield Municipal Bond ETF
Data updated: 2026-08-26
The net expense ratio is 0.49%. There are no sales loads or redemption fees. Portfolio turnover was 50%.
HTAX Fees and Expenses
Annual operating expenses and sales charges of HTAX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.49% |
| Fee waiver | — |
| Net expense ratio | 0.49% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HTAX Costs Over Time
On $10,000 invested in HTAX, assuming 5% a year before costs, total costs come to $310 over 5 years, cutting the return by 0.51% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.49%) | $51 | $161 | $281 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $169 | $310 |
| Value after costs | $10,449 | $11,407 | $12,453 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
HTAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $88.2M
- Portfolio turnover (prospectus): 50%
- Securities lending: none during the year
HTAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $11.7M | 17.45% |
| Wells Fargo Securities, LLC | $10.9M | 16.20% |
| Morgan Stanley & Co. LLC | $8.6M | 12.74% |
| BofA Securities, Inc. | $7.7M | 11.40% |
| J.P. Morgan Securities LLC | $6.1M | 9.09% |
| RBC Capital Markets, LLC | $5.3M | 7.94% |
| National Financial Services LLC | $5.3M | 7.87% |
| Stifel, Nicolaus & Company, Incorporated | $4.8M | 7.13% |
| B. C. Ziegler and Company | $3.5M | 5.13% |
| Jefferies LLC | $3.4M | 5.06% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.