HTAX vs VYM
Nomura National High-Yield Municipal Bond ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | HTAX | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.04% | |
| AUM | $58M | $79.0B | |
| Dividend Yield | 4.51% | 2.86% | |
| Holdings | 201 | 568 | |
| YTD Return | +3.49% | +16.10% | |
| 1Y Return | +9.39% | +25.99% | |
| 3Y Return (annualized) | - | +18.29% | |
| 5Y Return (annualized) | - | +12.35% | |
| Volatility (annualized) | 6.1% | 14.6% | |
| Max Drawdown | -6.1% | -58.8% | |
| Fund Family | Nomura Asset Management Co Ltd | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Mar 5, 2025 | Nov 10, 2006 |
HTAX vs VYM Performance
Nomura National High-Yield Municipal Bond ETF (HTAX) is a ETF from Nomura Asset Management Co Ltd and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year HTAX returned +9.39% while VYM returned +25.99%. Year to date, HTAX is up 3.49% versus a gain of 16.10% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 6.1% for HTAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.1% for HTAX and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HTAX charges 0.49% per year while VYM charges 0.04%. On a $10,000 position that is $49 vs $4 annually, a gap of $45 per year that compounds over a long holding period. On income, HTAX currently yields 4.51% against 2.86% for VYM.
Holdings Overlap
HTAX and VYM share 0 holdings out of 642 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HTAX or VYM?
HTAX has an expense ratio of 0.49% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $45 per year of difference.
Which performed better, HTAX or VYM?
Over the past year HTAX returned +9.39% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (1 years), HTAX annualized +3.48% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, HTAX or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 6.1% for HTAX. Worst drawdown: HTAX -6.1% vs VYM -58.8%.
Should I hold both HTAX and VYM?
HTAX and VYM have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HTAX and VYM?
HTAX and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 642 unique securities.
Which pays a higher dividend, HTAX or VYM?
HTAX yields 4.51% while VYM yields 2.86%, so HTAX currently pays the higher dividend yield.
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