LTAXvsFLCBETF Comparison
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Nomura Tax-Free USA ETF (LTAX) belongs to the Municipal Bonds segment. Franklin U.S. Core Bond ETF (FLCB) is part of the US Aggregate Bonds segment. LTAX's top 1 sector exposures are Municipal. In contrast, FLCB's top sector exposures are Sovereign, Finance and Industrials. LTAX is more expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.15% for FLCB. Run a side-by-side ETF comparison of LTAX and FLCB 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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LTAX vs FLCB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | LTAX FLCB | -1.14%-0.55% | -5.08%-2.98% | n/a-4.12% | n/a-4.99% | n/a+10.13% | n/a-9.82% |
| Flows | LTAX FLCB | +$1M+$103M | +$1M+$182M | -+$486M | -+$496M | -+$1.57B | -+$1.82B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | LTAX FLCB | +6.72%+4.39% | n/a+4.03% | n/a+5.00% | n/a+5.82% |
| Max drawdown | LTAX FLCB | -7.51%-4.34% | n/a-7.20% | n/a-7.20% | n/a-19.92% |
| Max drawdown duration | LTAX FLCB | 92d89d | n/a229d | n/a229d | n/a1802d |
Trading data
LTAX | FLCB | |
Last sale 10/16/2026 at 1:30 PM | $23.55 | $20.59 |
| Previous close 10/15/2026 | $23.54 | $20.58 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
LTAX | FLCB | |
|---|---|---|
| Last price | $23.55 | $20.59 |
| 1D performance | +0.04% | +0.05% |
| AuM | $7.07 M | $3.12 B |
| E/R | 0.39% | 0.15% |
Characteristics
LTAX | FLCB | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Nomura | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 57 | 828 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 12, 2026 | September 17, 2019 |
| ESG | No | No |
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Exposure
Countries
LTAX
USA
70.75%
Other
29.25%
FLCB
USA
59.09%
Other
40.91%
Sectors
LTAX
Municipal
70.75%
Other
29.25%
FLCB
Sovereign
28.18%
Finance
9.96%
Industrials
8.51%
Other
53.35%
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Diversification
LTAX
Total weight of top 15 holdings out of 15
27.79%
FLCB
Total weight of top 15 holdings out of 15
19.26%
Top 15 holdings
Data as of August 31, 2026
LTAX
New York Transitional Finance Authority, 5% 1feb2053, USD (2026)
2.46%
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
1.90%
Massachusetts Development Finance Agency, 5% 15feb2034, USD (2026A)
1.83%
New Jersey Transportation Trust Fund Authority, 5.25% 15jun2041, USD (2024)
1.83%
Minnesota Agricultural and Economic Development Board, 5.25% 1jan2054, USD (2024)
1.73%
US876443WT58
1.72%
Greater Orlando Aviation Authority, 5.25% 1nov2034, USD (2025)
1.72%
US43233KAW45
1.71%
Black Belt Energy Gas District, 5% 1jul2033, USD (2026)
1.70%
US59335KFV44
1.69%
US63607YEY23
1.69%
New York Municipal Water Finance Authority, 5.25% 15jun2056, USD (2026)
1.69%
Colorado Bridge and Tunnel Enterprise, 5.25% 1dec2054, USD (2025A)
1.69%
FLCB
USA, Notes 3.25% 30jun2027, USD (AA-2027)
2.82%
USA, Notes 4.125% 15jul2029, USD (AQ-2029)
2.07%
USA, Notes 1.375% 31dec2028, USD (T-2028)
1.82%
USA, Notes 4.125% 31jul2028, USD (AB-2028)
1.71%
USA, Notes 4.125% 30apr2033, USD (K-2033)
1.53%
USA, Notes 4.25% 30jun2033, USD (M-2033)
1.15%
USA, Bonds 1.375% 15aug2050, USD
1.12%
USA, Notes 4% 31oct2029, USD (R-2029)
1.07%
USA, Bonds 4.75% 15aug2055, USD
0.98%
USA, Notes 0.5% 30jun2027, USD (M-2027)
0.96%
USA, Notes 1.25% 31may2028, USD (L-2028)
0.83%
USA, Bonds 3% 15nov2044, USD
0.82%
USA, Bonds 2% 15nov2041, USD
0.81%
USA, Bonds 3% 15feb2049, USD
0.79%
USA, Notes 4.375% 15may2036, USD (C-2036)
0.77%
Frequently asked questions about LTAX and FLCB
Which ETF is bigger: LTAX or FLCB?
As of October 16, 2026, LTAX holds $7.07 M in assets under management (AUM), while FLCB manages $3.12 B.
What sectors do the LTAX and FLCB ETFs invest in?
LTAX leans toward sectors like Municipal. Meanwhile, FLCB focuses on Sovereign, Finance and Industrials.
What are the top holdings of the LTAX ETF and FLCB ETF?
LTAX top holdings include New York Transitional Finance Authority, 5% 1feb2053, USD (2026), Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD and Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025). FLCB holds in its top three: USA, Notes 3.25% 30jun2027, USD (AA-2027), USA, Notes 4.125% 15jul2029, USD (AQ-2029) and USA, Notes 1.375% 31dec2028, USD (T-2028).
Which ETF is more diversified: LTAX or FLCB?
LTAX holds 86 securities with 27.79% of its assets in the top 15. FLCB has 1037 securities and a top 15 weight of 19.26%.
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