HTAX vs. NUGY

Last updated Jun 4, 2026

HTAX (Nomura National High-Yield Municipal Bond ETF) and NUGY (GraniteShares YieldBOOST Gold Miners ETF) are both exchange-traded funds - HTAX is a High Yield Muni fund actively managed by Nomura, while NUGY is a Derivative Income fund actively managed by GraniteShares. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. HTAX charges 0.49%/yr vs 1.07%/yr for NUGY.

Performance

HTAX vs. NUGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura National High-Yield Municipal Bond ETF (HTAX) and GraniteShares YieldBOOST Gold Miners ETF (NUGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HTAX achieves a 3.60% return, which is significantly higher than NUGY's -1.04% return.

HTAX

• 1D: 0.06%
• 1M: 1.34%
• YTD: 3.60%
• 6M: 3.91%
• 1Y: 9.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NUGY

• 1D: -0.66%
• 1M: 2.66%
• YTD: -1.04%
• 6M: 0.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HTAX vs. NUGY - Yearly Performance Comparison

	2026 (YTD)	2025
HTAX Nomura National High-Yield Municipal Bond ETF	3.60%	-0.22%
NUGY GraniteShares YieldBOOST Gold Miners ETF	-1.04%	2.38%

Correlation

The correlation between HTAX and NUGY is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.15

Return for Risk

HTAX vs. NUGY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HTAX

HTAX Risk / Return Rank: 61
HTAX Sharpe Ratio Rank: 60
HTAX Sortino Ratio Rank: 64
HTAX Omega Ratio Rank: 67
HTAX Calmar Ratio Rank: 61
HTAX Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HTAX vs. NUGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura National High-Yield Municipal Bond ETF (HTAX) and GraniteShares YieldBOOST Gold Miners ETF (NUGY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HTAX	NUGY	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.95	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.99	—	—
Martin ratio: Return relative to average drawdown	9.11	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HTAX	NUGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.09	+0.54

Drawdowns

HTAX vs. NUGY - Drawdown Comparison

The maximum HTAX drawdown since its inception was -6.10%, smaller than the maximum NUGY drawdown of -17.39%. Use the drawdown chart below to compare losses from any high point for HTAX and NUGY.

Drawdown Indicators

	HTAX	NUGY	Difference
Max Drawdown Largest peak-to-trough decline	-6.10%	-17.39%	+11.29%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	—	—
Current Drawdown Current decline from peak	0.00%	-14.11%	+14.11%
Average Drawdown Average peak-to-trough decline	-1.77%	-7.35%	+5.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	—	—

Volatility

Volatility by Period

	HTAX	NUGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	26.65%	-21.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.47%	26.65%	-20.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.47%	26.65%	-20.18%

HTAX vs. NUGY - Expense Ratio Comparison

HTAX has a 0.49% expense ratio, which is lower than NUGY's 1.07% expense ratio.

Dividends

HTAX vs. NUGY - Dividend Comparison

HTAX's dividend yield for the trailing twelve months is around 4.47%, less than NUGY's 70.74% yield.

Position	TTM	2025
HTAX Nomura National High-Yield Municipal Bond ETF	4.47%	3.67%
NUGY GraniteShares YieldBOOST Gold Miners ETF	70.74%	12.18%

Frequently Asked Questions

Can I hold both HTAX and NUGY in my portfolio?

HTAX and NUGY have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HTAX or NUGY?

On fees, HTAX is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HTAX or NUGY?

HTAX is cheaper with a 0.49% expense ratio, compared with 1.07% for NUGY.

Which ETF pays a higher dividend yield, HTAX or NUGY?

NUGY has the higher dividend yield at 70.74%, compared with 4.47% for HTAX.

What is the main difference between HTAX and NUGY?

HTAX is categorized as High Yield Muni, while NUGY is Derivative Income. They also come from different issuers: Nomura and GraniteShares. Their fees differ too: 0.49% for HTAX and 1.07% for NUGY.