Nomura Tax-Free USA ETF (LTAX) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with LTAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to LTAX
LTAX charges 0.39% annually. There are 122 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.92B | Oct 2022 | LTAX vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | LTAX vs VTEB | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 116.60M | Aug 2025 | LTAX vs TAXS | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 180.62M | Jul 2019 | LTAX vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 153.73M | Aug 2025 | LTAX vs TAXI |
Best Risk-Adjusted Alternatives to LTAX
Among 107 ETFs in the Municipal Bonds category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 98 | 9.88M | Sep 2024 | LTAX vs MYMG | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.08M | Nov 2018 | LTAX vs FUMB | |
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | LTAX vs MYMF | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.39B | Mar 2015 | LTAX vs MEAR | |
| Goldman Sachs Ultra Short Municipal Income ETF | 95 | 38.99M | Jul 2024 | LTAX vs GUMI |
Top Performing LTAX Alternatives (YTD)
Among 137 ETFs in the Municipal Bonds category with YTD return data, the top-performing alternatives shown here go as high as 4.59%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.59% | 142.76M | Jun 2013 | LTAX vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 4.35% | 19.03M | Sep 2016 | LTAX vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 4.16% | 25.43M | Nov 2025 | LTAX vs THYM | |
| Rareview Tax Advantaged Income ETF | 3.87% | 18.13M | Oct 2020 | LTAX vs RTAI | |
| Overlay Shares Municipal Bond ETF | 3.68% | 30.60M | Sep 2019 | LTAX vs OVM |
Lowest Volatility Alternatives to LTAX
LTAX has 5.73% 1-year volatility. There are 136 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 30.59M | Sep 2025 | LTAX vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.73% | 8.74M | Sep 2024 | LTAX vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.75% | 398.45M | Oct 2007 | LTAX vs CALI | |
| First Trust Ultra Short Duration Municipal ETF | 0.78% | 246.08M | Nov 2018 | LTAX vs FUMB | |
| Allspring Ultra Short Municipal ETF | 0.78% | 30.06M | Jul 2025 | LTAX vs AUSM |
Lowest Drawdown Alternatives to LTAX
Among 107 ETFs in the Municipal Bonds category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.08M | Nov 2018 | LTAX vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 290.51M | Sep 2019 | LTAX vs BSMQ | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | LTAX vs MYMG | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | LTAX vs GUMI | |
| State Street My2026 Municipal Bond ETF | -0.38% | 8.74M | Sep 2024 | LTAX vs MYMF |
Other ETFs from Nomura
The 4 most viewed Nomura ETFs shown here include EMEQ, LRGG, FRWD and span 4 categories. AUM among these funds goes as high as $658M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Nomura Focused Emerging Markets Equity ETF | Emerging Markets Diversified | 94 | 78.18% | 658.42M | Sep 2024 | LTAX vs EMEQ | |
| Nomura Focused Large Growth ETF | Large Cap Growth Equities | 7 | -8.51% | 397.29M | May 2024 | LTAX vs LRGG | |
| Nomura Transformational Technologies ETF | Technology Equities | — | — | — | Jan 2026 | LTAX vs FRWD | |
| Nomura National High-Yield Municipal Bond ETF | High Yield Muni | 67 | 4.52% | 30.14M | Mar 2025 | LTAX vs HTAX |
Often Compared With LTAX
Investors most often compare LTAX with TAXT, BSMR, PZT. These 6 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Northern Trust Tax-Exempt Bond ETF | Municipal Bonds | — | 1.66% | 60.89M | Aug 2025 | LTAX vs TAXT | |
| Invesco BulletShares 2027 Municipal Bond ETF | Municipal Bonds | 94 | 1.18% | 342.74M | Sep 2019 | LTAX vs BSMR | |
| Invesco New York AMT-Free Municipal Bond ETF | Municipal Bonds | 65 | 3.37% | 137.69M | Oct 2007 | LTAX vs PZT | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | Municipal Bonds | 61 | 3.60% | 2.99B | Apr 2011 | LTAX vs HYMB | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | Municipal Bonds | 88 | 0.97% | 587.10M | Apr 2019 | LTAX vs IBMO | |
| NYLI MacKay Muni Allocation ETF | Municipal Bonds | — | 3.67% | 27.55M | Dec 2025 | LTAX vs MMMA |
Compare LTAX with Any Fund or Stock
Compare LTAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair LTAX with funds that move differently
Nomura Tax-Free USA ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to LTAX.
Explore LTAX Diversifiers