# Portfolio overlap — STAX vs TMNS Comparing **Nomura Tax-Free USA Short Term ETF** (2026-03-31) and **T. Rowe Price Short Municipal Income ETF** (2026-02-28). - Shared positions: 2 - Nomura Tax-Free USA Short Term ETF covered by T. Rowe Price Short Municipal Income ETF: 0.01799335764103885890870918750 - T. Rowe Price Short Municipal Income ETF covered by Nomura Tax-Free USA Short Term ETF: 0.01799335764103885890870918750 ## Nomura Tax-Free USA Short Term ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Housing & Redevelopment Authority of The City of St Paul Minnesota, Series 2017A | 0.038466 | | | City of Chicago Waterworks, Series 2004 | 0.037827 | | | State of Texas, Series 2018 | 0.035180 | | | Port Authority of New York & New Jersey, Series 246 | 0.031815 | | | NYC MUNI WTR-AA3-ADJ | 0.031762 | | | Pittsburgh Water & Sewer Authority, Series 2017A | 0.030327 | | | New Hampshire Business Finance Authority, Series 2021 | 0.027983 | | | MONT PA HR ED 5% 9/1/2029 | 0.026907 | | | Arizona Industrial Development Authority, Series 2022A | 0.026711 | | | Colorado Educational & Cultural Facilities Authority, Series 2014 | 0.026059 | | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.025667 | | | New Jersey Transportation Trust Fund Authority, Series 2019BB | 0.025197 | | | MAIN STR NAT GA 5% 12/1/2052 MT | 0.024861 | | | IL CHIEDU 5.25 12/01/2030 | 0.024835 | | | Commonwealth Financing Authority, Tobacco Master Settlement Payment | 0.024750 | | | City of Chaska, Series 2015A | 0.024711 | | | Colorado Health Facilities Authority, Series 2017A | 0.024413 | | | New York Transportation Development Corp., Series 2022 | 0.023939 | | | DENVER CO ARPT 5.25% 11/15/2026 | 0.022570 | | | AUGUSTA GA DEV AUTH R | 0.022308 | | | State of Connecticut, Series 2018E | 0.021877 | | | DETROIT MI REGD B/E 5.00000000 | 0.021304 | | | LOWER AL GAS DIST GAS | 0.020687 | | | OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE | 0.020394 | | | COMMONSPIRIT HEALTH OBL | 0.018517 | | | New York City Municipal Water Finance Authority, Series 2026DD | 0.017847 | | | REGL CO TRANSPRTN DIST PRIV ACTIVITY REVENUE | 0.016885 | | | State of Illinois, Series 2019B | 0.016818 | | | RESTRUCTURED-SER A1 | 0.016774 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB | 0.016762 | | | ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REVENUE | 0.016691 | | | WA ST HLTH CARE FACS | 0.016582 | | | New York (City of), NY Industrial Development Agency (Yankee Stadium), Series 2020, Ref. RB | 0.016364 | | | Utility Debt Securitization Authority, Series 2016A | 0.015953 | | | COLORADO ST HLTH FACS | 0.015918 | | | Maricopa County Industrial Development Authority, Series 2020A | 0.015846 | | | BLACK BELT ENERGY GAS VAR | 0.015832 | ✓ | | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 0.015148 | | | Texas Department of Housing & Community Affairs, Series 2022B | 0.014854 | | | Virginia Public Building Authority, Series 2021A1 | 0.014780 | | | CA ST MFA REV 5% 7/1/2029 | 0.014548 | | | State of New Jersey, Series 2020A | 0.012801 | | | Cumberland County Municipal Authority, Series 2019 | 0.012286 | | | State of Illinois, Series 2021A | 0.011062 | | | NY MTA TRANSP 5% 11/15/2030 | 0.009931 | | | New York Transportation Development Corp., Series 2018 | 0.009814 | | | Ohio Housing Finance Agency | 0.008759 | | | TX PRIVATE ACTIVITY-A | 0.008409 | | | Tarrant County Cultural Education Facilities Finance Corp., Series 2016 | 0.006279 | | | Nashville (City of) & Davidson (County of), TN Metropolitan Government Health & Educational Facilities Board (The) (Vanderbilt Univ Medical Center) | 0.003991 | | ## T. Rowe Price Short Municipal Income ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | HENNEPIN CNTY MN HEN 12/28 FIXED 5 | 0.033599 | | | TX DALAPT 11/01/2050 | 0.025246 | | | UNIV OF NORTH CAROLINA NC AT C UNCHGR 12/27 FIXED 5 | 0.024690 | | | Port of Portland OR Airport Revenue | 0.023999 | | | NY ST HSG FIN-F-2 | 0.023780 | | | BLACK BELT ENERGY GAS VAR | 0.021404 | ✓ | | California Community Choice Financing Authority, Series F | 0.020689 | | | New York Transportation Development Corp., Series A | 0.020346 | | | NEW YORK ST MTGE AGY REVENUE NYSHSG 10/30 FIXED 3.4 | 0.018827 | | | PORT OF SEATTLE WA REVENUE REGD B/E AMT 5.00000000 | 0.018058 | | | VIRGINIA ELECTRIC AND POWER CO (MPT) 3.125% 11-01-35 | 0.017741 | | | ILLINOIS ST TOLL HIGHWAY AUTH ILSTRN 01/31 FIXED 5 | 0.017710 | | | NEW YORK ST MTGE AGY HOMEOWNER NYSHSG 04/32 FIXED 3.25 | 0.016292 | | | RESTRUCTURED-SER A1 | 0.015681 | | | EQUITABLE SCHOOL REVOLVING FUND LLC OBLIGATED GROUP 5.0% 11-01-28 | 0.015617 | | | CALIFORNIA ST STWD CMNTYS DEV CASDEV 09/31 FIXED 5 | 0.015463 | | | CLIFTON TX HGR EDU FIN CORP ED CLIEDU 04/27 FIXED 5 | 0.015233 | | | State of Illinois, Series 2018A | 0.014891 | | | ARLINGTON TX HGR EDU FIN CORP ARLEDU 08/32 FIXED 4 | 0.014606 | | | IN INSMED 10/01/2064 | 0.013712 | | | Southeast Alabama Gas Supply District (The), Series A | 0.013530 | | | PORT NY NJ 5% 9/1/2033 @ | 0.013369 | | | TARRANT TX EDFC 5% MT | 0.013368 | | | PENNSYLVANIA ST PAS 01/28 FIXED 5 | 0.013004 | | | MAIN STR NAT GA 5% MT | 0.012836 | | | TN ENERGY ACQ CORP-A | 0.012823 | | | WHITING IN ENVRNMNTL FACS REVE REGD V/R B/E AMT 5.00000000 | 0.012314 | | | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY | 0.011891 | | | WVU HEALTH PUT B 5% 6/1/33 MT | 0.010780 | | | NY TRANS FIN AUTH-D-1 | 0.010767 | | | WASHINGTON ST WAS 08/30 FIXED 5 | 0.010548 | | | DFW ARPT 5% 11/1/2050 MT @ | 0.010546 | | | MAIN STR NAT GA 5% MT | 0.010074 | | | ALACHUA CNTY FL HLTH FACS AUTH ALAMED 12/28 FIXED 5 | 0.010034 | | | ENERGY N W WA ELEC RE | 0.010030 | | | PORT AUTHORITY OF NEW YORK & NEW JERSEY | 0.009818 | | | CHIC IL OHARE SER D 5% 1/1/28@ | 0.009577 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.009573 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.009531 | | | PENNSYLVANIA ST HSG FIN AGY MF REGD V/R B/E HUD SEC 3.15000000 | 0.009502 | | | ALEXANDRIA VA REDEV & HSG AUTH REGD V/R B/E HUD SEC 3.20000000 | 0.009463 | | | NYC HSG DEV CORP-A-2 | 0.009438 | | | Virginia Housing Development Authority 3 10/01/2029 | 0.008710 | | | ATLANTA URBAN RSDL-B | 0.008480 | | | ILLINOIS ST FIN AUTH REVENUE REGD V/R B/E 5.00000000 | 0.008229 | | | HOUSTON TX ARPT SYS REVENUE HOUAPT 07/29 FIXED 5 | 0.008178 | | | RESTRUCTURED-CABS-SER | 0.007933 | | | Public Finance Authority | 0.007927 | | | WASTE MANAGEMENT PA OBLIGATED GROUP (MPT) 4.25% 07-01-41 | 0.007890 | | | CLIFTON TX HGR EDU FIN CORP ED CLIEDU 08/36 FIXED 5 | 0.007778 | | ## Sources - N-PORT (fund A) — accession `0002071691-26-012297` (as of 2026-03-31) - N-PORT (fund B) — accession `0001099263-26-004465` (as of 2026-02-28) --- _Informational only — not investment advice. 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