LRGG vs. LTAX

Last updated Jun 23, 2026

LRGG (Nomura Focused Large Growth ETF) and LTAX (Nomura Tax-Free USA ETF) are both exchange-traded funds - LRGG is a Large Cap Growth Equities fund actively managed by Nomura, while LTAX is a Municipal Bonds fund actively managed by Nomura. Both are actively managed. At a 0.30 correlation, their price movements are largely independent. LRGG charges 0.45%/yr vs 0.39%/yr for LTAX.

Performance

LRGG vs. LTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Focused Large Growth ETF (LRGG) and Nomura Tax-Free USA ETF (LTAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LRGG

• 1D: -1.68%
• 1M: -3.66%
• YTD: -8.45%
• 6M: -8.24%
• 1Y: -1.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LTAX

• 1D: -0.01%
• 1M: 2.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LRGG vs. LTAX - Yearly Performance Comparison

	2026 (YTD)
LRGG Nomura Focused Large Growth ETF	-8.85%
LTAX Nomura Tax-Free USA ETF	2.07%

Correlation

The correlation between LRGG and LTAX is 0.30, 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 Jan 13, 2026	0.30

Return for Risk

LRGG vs. LTAX — Risk / Return Rank

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

LRGG

LRGG Risk / Return Rank: 7
LRGG Sharpe Ratio Rank: 8
LRGG Sortino Ratio Rank: 7
LRGG Omega Ratio Rank: 7
LRGG Calmar Ratio Rank: 8
LRGG Martin Ratio Rank: 7

LTAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

LRGG vs. LTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Focused Large Growth ETF (LRGG) and Nomura Tax-Free USA ETF (LTAX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LRGG	LTAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	—	—
Sortino ratio: Return per unit of downside risk	-0.06	—	—
Omega ratio: Gain probability vs. loss probability	0.99	—	—
Calmar ratio: Return relative to maximum drawdown	-0.08	—	—
Martin ratio: Return relative to average drawdown	-0.22	—	—

Drawdowns

LRGG vs. LTAX - Drawdown Comparison

The maximum LRGG drawdown since its inception was -18.94%, which is greater than LTAX's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for LRGG and LTAX.

Drawdown Indicators

	LRGG	LTAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.94%	-3.18%	-15.76%
Max Drawdown (1Y) Largest decline over 1 year	-18.94%	—	—
Current Drawdown Current decline from peak	-11.43%	-0.01%	-11.42%
Average Drawdown Average peak-to-trough decline	-4.37%	-0.65%	-3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.40%	—	—

Volatility

Volatility by Period

	LRGG	LTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.27%	5.76%	+8.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	5.76%	+10.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	5.76%	+10.98%

LRGG vs. LTAX - Expense Ratio Comparison

LRGG has a 0.45% expense ratio, which is higher than LTAX's 0.39% expense ratio.

Dividends

LRGG vs. LTAX - Dividend Comparison

LRGG's dividend yield for the trailing twelve months is around 0.17%, less than LTAX's 1.33% yield.

Position	TTM	2025	2024
LRGG Nomura Focused Large Growth ETF	0.17%	0.16%	0.13%
LTAX Nomura Tax-Free USA ETF	1.33%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LRGG and LTAX in my portfolio?

LRGG and LTAX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LRGG or LTAX?

On fees, LTAX is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LRGG or LTAX?

LTAX is cheaper with a 0.39% expense ratio, compared with 0.45% for LRGG.

Which ETF pays a higher dividend yield, LRGG or LTAX?

LTAX has the higher dividend yield at 1.33%, compared with 0.17% for LRGG.

What is the main difference between LRGG and LTAX?

LRGG is categorized as Large Cap Growth Equities, while LTAX is Municipal Bonds. Their fees differ too: 0.45% for LRGG and 0.39% for LTAX.