STAX Fees and Costs — Nomura Tax-Free USA Short Term ETF
Data updated: 2026-08-26
The net expense ratio is 0.29%. There are no sales loads or redemption fees. Portfolio turnover was 38%.
STAX Fees and Expenses
Annual operating expenses and sales charges of STAX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
STAX Costs Over Time
On $10,000 invested in STAX, assuming 5% a year before costs, total costs come to $184 over 5 years, cutting the return by 0.30% 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 0.29%) | $30 | $96 | $167 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $30 | $100 | $184 |
| Value after costs | $10,470 | $11,476 | $12,579 |
| Impact on return, per year | 0.30% | 0.30% | 0.30% |
STAX 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): $4.7M
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
STAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $2.4M | 56.80% |
| Morgan Stanley & Co. LLC | $309K | 7.27% |
| BofA Securities, Inc. | $305K | 7.18% |
| Brownstone Investment Group, LLC | $276K | 6.51% |
| Piper Sandler & Co. | $209K | 4.93% |
| Wells Fargo Securities, LLC | $196K | 4.61% |
| SumRidge Partners LLC | $178K | 4.18% |
| RBC Capital Markets, LLC | $141K | 3.33% |
| Raymond James & Associates, Inc. | $113K | 2.66% |
| Fidelity Brokerage Services LLC | $107K | 2.52% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.