BTOTvsLTAXETF Comparison
VS
iShares Total USD Fixed Income Market ETF (BTOT) belongs to the US Aggregate Bonds segment. Nomura Tax-Free USA ETF (LTAX) is part of the Municipal Bonds segment. BTOT's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, LTAX's top sector exposures are Municipal. BTOT is less expensive with a Total Expense Ratio (TER) of 0.1%, versus 0.39% for LTAX. Run a side-by-side ETF comparison of BTOT and LTAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BTOT vs LTAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BTOT LTAX | +0.04%-0.44% | -0.30%-1.14% | +0.23%n/a | n/an/a | n/an/a | n/an/a |
| Flows | BTOT LTAX | -- | +$5M- | +$5M- | -- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BTOT LTAX | +3.47%+3.33% | n/an/a | n/an/a | n/an/a |
| Max drawdown | BTOT LTAX | -1.49%-2.55% | n/an/a | n/an/a | n/an/a |
| Max drawdown duration | BTOT LTAX | 60d56d | n/an/a | n/an/a | n/an/a |
Trading data
BTOT | LTAX | |
Last sale 9/1/2026 at 1:30 PM | $48.55 | $24.41 |
| Previous close 08/31/2026 | $48.86 | $24.56 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 28, 2026
1-year trailing difference
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LTAX
is actively managed and doesn’t replicate an indexBTOT | LTAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
BTOT | LTAX | |
|---|---|---|
| Last price | $48.55 | $24.41 |
| 1D performance | -0.64% | -0.64% |
| AuM | $29.31 M | $6.13 M |
| E/R | 0.1% | 0.39% |
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Exposure
Countries
BTOT
USA
76.56%
Other
23.44%
LTAX
USA
78.02%
Other
21.98%
Sectors
BTOT
Sovereign
44.98%
Finance
11.87%
Other
43.15%
LTAX
Municipal
78.02%
Other
21.98%
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Diversification
BTOT
Total weight of top 15 holdings out of 15
19.36%
LTAX
Total weight of top 15 holdings out of 15
28.73%
Top 15 holdings
Data as of July 31, 2026
BTOT
BlackRock Cash Funds - Institutional
5.64%
US31418EB825
1.92%
FR SD8212, 2.5% 1may2052, USD (ABS)
1.32%
USA, Notes 3.875% 31jul2027, USD (BE-2027)
1.08%
Benchmark Mortgage Trust 2025-V18, 5.18365% 18oct2058, USD (ABS, A3)
1.03%
USA, Notes 4.875% 31oct2030, USD (R-2030)
0.93%
USA, Notes 3.625% 31aug2027, USD (BG-2027)
0.86%
US3140XPXH76
0.86%
USA, Notes 3.375% 15sep2027, USD (AS-2027)
0.86%
US01F0204895
0.85%
USA, Notes 4% 31jul2032, USD (N-2032)
0.85%
USA, Notes 4% 30apr2032, USD (K-2032)
0.84%
US01F0326821
0.84%
USA, Notes 1.875% 15feb2032, USD (B-2032)
0.75%
US31418EDD94
0.74%
LTAX
State of Washington, 5% 1feb2051, USD (2026C)
2.52%
New York Transitional Finance Authority, 5% 1feb2053, USD (2026)
2.47%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
2.33%
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.09%
Puerto Rico, FRN 1nov2043, USD
1.89%
New Jersey Transportation Trust Fund Authority, 5.25% 15jun2041, USD (2024)
1.85%
Massachusetts Development Finance Agency, 5% 15feb2034, USD (2026A)
1.82%
Arizona Transportation Board, 5% 1jul2040, USD (2026)
1.77%
Minnesota Agricultural and Economic Development Board, 5.25% 1jan2054, USD (2024)
1.73%
Texas Transportation Finance Corp., 5.5% 1oct2055, USD (2025A)
1.73%
Greater Orlando Aviation Authority, 5.25% 1nov2034, USD (2025)
1.72%
US43233KAW45
1.71%
New York and New Jersey Port Authority, 5.25% 15aug2056, USD
1.71%
US63607YEY23
1.70%
New York Municipal Water Finance Authority, 5.25% 15jun2056, USD (2026)
1.70%
Frequently asked questions about BTOT and LTAX
Which ETF is bigger: BTOT or LTAX?
As of August 28, 2026, BTOT holds $29.31 M in assets under management (AUM), while LTAX manages $6.13 M.
What sectors do the BTOT and LTAX ETFs invest in?
BTOT leans toward sectors like Sovereign and Finance. Meanwhile, LTAX focuses on Municipal.
What are the top holdings of the BTOT ETF and LTAX ETF?
BTOT top holdings include BlackRock Cash Funds - Institutional, US31418EB825 and FR SD8212, 2.5% 1may2052, USD (ABS). LTAX holds in its top three: State of Washington, 5% 1feb2051, USD (2026C), New York Transitional Finance Authority, 5% 1feb2053, USD (2026) and Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD.
Which ETF is more diversified: BTOT or LTAX?
BTOT holds 1055 securities with 19.36% of its assets in the top 15. LTAX has 86 securities and a top 15 weight of 28.73%.
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