Nomura Tax-Free USA Short Term ETF (STAX) is an exchange-traded fund in the Muni National Short category. It has $13.34M in assets, an expense ratio of 0.29% and a 3.17% dividend yield. 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.