STAX – Nomura Tax-Free USA Short Term ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide a high level of current interest income that is exempt from federal income tax, and attempts to preserve capital by investing in short term municipal obligations. Under normal circumstances, ETF will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities the income from which is exempt from federal income tax, including the federal alternative minimum tax. This is a fundamental investment policy that may not be changed without prior shareholder approval.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
STAX	Nomura Tax-Free USA Short Term ETF	ETF	Open	—		Nov 28, 2023	$10.53M	0.290%	—	—	$4.96M

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