Nomura Tax-Free USA ETF (LTAX)

Nomura Tax-Free USA ETF is a fixed income fund associated with Nomura's U.S. asset management business. As its name indicates, the fund invests in municipal bonds issued by U.S. states, cities and other local government entities whose interest is generally exempt from federal income tax.

The fund draws from issuers nationwide rather than a single state. Whether it is actively managed or index-based, along with its maturity and credit quality profile, should be confirmed in the fund's prospectus.