LTAXvsFPFDETF Comparison
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Nomura Tax-Free USA ETF (LTAX) belongs to the Municipal Bonds segment. Fidelity Preferred Securities & Income ETF (FPFD) is part of the Multi-Asset: Other segment. LTAX's top 1 sector exposures are Municipal. In contrast, FPFD's top sector exposures are Finance, Utilities and Energy. LTAX is less expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.59% for FPFD. Run a side-by-side ETF comparison of LTAX and FPFD 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 FPFD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | LTAX FPFD | -1.17%-0.48% | -2.06%-0.75% | n/a+0.47% | n/a+2.36% | n/a+22.84% | n/a+6.54% |
| Flows | LTAX FPFD | --$1M | --$2M | -+$6M | -+$18M | -+$47M | -+$80M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | LTAX FPFD | +3.49%+2.44% | n/a+2.66% | n/a+3.53% | n/a+5.21% |
| Max drawdown | LTAX FPFD | -3.22%-1.04% | n/a-2.64% | n/a-4.91% | n/a-20.48% |
| Max drawdown duration | LTAX FPFD | 58d58d | n/a189d | n/a257d | n/a1080d |
Trading data
LTAX | FPFD | |
Last sale 9/2/2026 at 2:45 PM | $24.36 | $21.10 |
| Previous close 09/02/2026 | $24.41 | $21.07 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 2:45 PM
Live
Closed
LTAX | FPFD | |
|---|---|---|
| Last price | $24.36 | $21.10 |
| 1D performance | -0.19% | +0.14% |
| AuM | $6.09 M | $79.15 M |
| E/R | 0.39% | 0.59% |
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Exposure
Countries
LTAX
USA
78.02%
Other
21.98%
FPFD
USA
81.06%
Other
18.94%
Sectors
LTAX
Municipal
78.02%
Other
21.98%
FPFD
Finance
52.15%
Utilities
15.92%
Energy
13.37%
Other
18.56%
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Diversification
LTAX
Total weight of top 15 holdings out of 15
28.73%
FPFD
Total weight of top 15 holdings out of 15
26.25%
Top 15 holdings
Data as of July 31, 2026
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%
FPFD
Fidelity Cash Central Fund
5.67%
Energy Transfer, 6.625% perp., USD (B)
4.48%
Enbridge, 8.5% 15jan2084, USD (2023-B)
2.20%
Energy Transfer, 6.55% 15jan2057, USD (2026A)
1.49%
Goldman Sachs, 4.125% perp., USD (V)
1.36%
Southern Co., 4.2% 15oct2060, USD (2020C)
1.35%
Morgan Stanley
1.24%
JP Morgan, 4% perp., USD (II)
1.24%
BNP Paribas, 6.875% perp., USD
1.17%
PNC Financial Services Group, 3.4% perp., USD (T)
1.16%
Citigroup, 6.75% perp., USD (EE)
1.00%
U.S. Bancorp, 3.7% perp., USD (N)
1.00%
AT&T, Inc.
0.97%
Strategy, Inc.
0.96%
Sunoco LP, 7.875% perp., USD (A)
0.96%
Frequently asked questions about LTAX and FPFD
Which ETF is bigger: LTAX or FPFD?
As of September 2, 2026, LTAX holds $6.09 M in assets under management (AUM), while FPFD manages $79.15 M.
What sectors do the LTAX and FPFD ETFs invest in?
LTAX leans toward sectors like Municipal. Meanwhile, FPFD focuses on Finance, Utilities and Energy.
What are the top holdings of the LTAX ETF and FPFD ETF?
LTAX top holdings include 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. FPFD holds in its top three: Fidelity Cash Central Fund, Energy Transfer, 6.625% perp., USD (B) and Enbridge, 8.5% 15jan2084, USD (2023-B).
Which ETF is more diversified: LTAX or FPFD?
LTAX holds 86 securities with 28.73% of its assets in the top 15. FPFD has 332 securities and a top 15 weight of 26.25%.
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