HTAXvsVCRMETF Comparison
VS
Nomura National High-Yield Municipal Bond ETF (HTAX) and Vanguard Core Tax-Exempt Bond ETF (VCRM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. HTAX is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.12% for VCRM. HTAX is down -0.88% year-to-date (YTD) with +$64M in YTD flows. VCRM performs better with 0.18% YTD performance, and +$2.11B in YTD flows. Run a side-by-side ETF comparison of HTAX and VCRM 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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HTAX vs VCRM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HTAX VCRM | +3.26%+3.88% | -3.22%-1.04% | -0.88%+0.18% | -0.91%+0.51% | n/an/a | n/an/a |
| Flows | HTAX VCRM | +$35M+$780M | +$38M+$1.14B | +$64M+$2.11B | +$66M+$2.29B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HTAX VCRM | +6.88%+5.42% | +4.50%+3.47% | n/an/a | n/an/a |
| Max drawdown | HTAX VCRM | -7.01%-5.58% | -8.03%-6.33% | n/an/a | n/an/a |
| Max drawdown duration | HTAX VCRM | 75d75d | 113d113d | n/an/a | n/an/a |
Trading data
HTAX | VCRM | |
Last sale 10/28/2026 at 1:30 PM | $23.49 | $73.68 |
| Previous close 10/27/2026 | $23.50 | $73.66 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/28/2026 at 1:30 PM
Live
Closed
HTAX | VCRM | |
|---|---|---|
| Last price | $23.49 | $73.68 |
| 1D performance | -0.02% | +0.03% |
| AuM | $94.39 M | $2.89 B |
| E/R | 0.49% | 0.12% |
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Exposure
Countries
HTAX
USA
51.54%
Other
48.46%
VCRM
USA
50.9%
Other
49.1%
Sectors
HTAX
Municipal
51.54%
Other
48.46%
VCRM
Municipal
50.9%
Other
49.1%
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Diversification
HTAX
Total weight of top 15 holdings out of 15
16.28%
VCRM
Total weight of top 15 holdings out of 15
7.11%
Top 15 holdings
Data as of August 31, 2026
HTAX
Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD
1.71%
US04052EAC21
1.55%
Puerto Rico GDB Debt Recovery Authority, 7.5% 20aug2040, USD (2018)
1.29%
Puerto Rico, FRN 1nov2043, USD
1.21%
Louisiana Public Facilities Authority, 5% 1sep2066, USD (2024)
1.17%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
1.16%
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
1.11%
US63607YEY23
0.95%
Wisconsin Public Finance Authority, 6.5% 31dec2065, USD (2025)
0.92%
Wisconsin Public Finance Authority, 5.75% 1jul2062, USD (2023-1, A)
0.90%
San Diego Regional Airport Authority, 5.5% 1jul2055, USD (2025A)
0.87%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.87%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2053, USD (2023B)
0.86%
Houston Convention and Entertainment Facilities Department, 5.5% 1sep2058, USD (2026C)
0.86%
Chicago O'Hare International Airport, 5.25% 1jan2061, USD (2026A)
0.85%
VCRM
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.71%
US09182TEC71
0.61%
Kentucky Public Energy Authority, 4% 1aug2052, USD (2022)
0.53%
Jefferson Sales Tax District, 5% 1dec2042, USD (2017B)
0.52%
Los Angeles Metropolitan Transportation Authority, 5% 1jul2042, USD (2021-A)
0.48%
State of Hawaii, 4% 1may2036, USD
0.47%
US625517PJ02
0.46%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.45%
PEFA Inc., 5% 1apr2035, USD (2026A)
0.44%
Texas Department of Housing and Community Affairs, 6% 1jan2057, USD (2026B)
0.44%
Energy Southeast, 5% 1sep2033, USD (2025B)
0.42%
Wisconsin Public Finance Authority, 5.75% 1jul2062, USD (2023-1, A)
0.41%
US235330AW70
0.40%
US57563WAC29
0.40%
Indiana Finance Authority, 5% 1oct2046, USD (2016A)
0.38%
Frequently asked questions about HTAX and VCRM
How have the HTAX and VCRM ETFs performed in 2026?
As of October 27, 2026, HTAX is down -0.88% year-to-date (YTD), while VCRM has returned 0.18%. That puts VCRM better performer ahead so far this year.
Which ETF is attracting more investor money: HTAX or VCRM?
Year-to-date, the HTAX ETF saw +$64M in flows, compared to +$2.11B for VCRM.
Which ETF is more volatile: HTAX or VCRM?
Over the past year, HTAX had a volatility of 4.5%, while VCRM experienced 3.47%.
Which ETF is bigger: HTAX or VCRM?
As of October 27, 2026, HTAX holds $94.39 M in assets under management (AUM), while VCRM manages $2.89 B.
What sectors do the HTAX and VCRM ETFs invest in?
HTAX leans toward sectors like Municipal. Meanwhile, VCRM focuses on Municipal.
What are the top holdings of the HTAX ETF and VCRM ETF?
HTAX top holdings include Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD, US04052EAC21 and Puerto Rico GDB Debt Recovery Authority, 7.5% 20aug2040, USD (2018). VCRM holds in its top three: Black Belt Energy Gas District, 5% 1oct2035, USD (2025), US09182TEC71 and Kentucky Public Energy Authority, 4% 1aug2052, USD (2022).
Which ETF is more diversified: HTAX or VCRM?
HTAX holds 222 securities with 16.28% of its assets in the top 15. VCRM has 2385 securities and a top 15 weight of 7.11%.
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Latest news about HTAX & VCRM
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