X-Square Municipal Income Tax Free ETF (ZTAX)
ZTAX is an actively managed ETF by X-Square. ZTAX launched on May 18, 2023 and has a 1.14% expense ratio.
ETF Info
May 18, 2023
1x
No Index (Active)
Expense Ratio
ZTAX has a high expense ratio of 1.14%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in X-Square Municipal Income Tax Free ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
X-Square Municipal Income Tax Free ETF had a return of -0.14% year-to-date (YTD) and 7.85% in the last 12 months.
ZTAX
-0.14%
-0.80%
-2.33%
7.85%
N/A
N/A
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of ZTAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.33% | -0.14% | |||||||||||
| 2024 | -0.56% | 1.64% | 4.56% | -3.31% | 0.99% | -0.41% | 2.46% | -2.19% | 2.04% | 4.68% | -3.22% | 1.42% | 7.99% |
| 2023 | 2.98% | 1.57% | -0.11% | -0.79% | -0.18% | 0.16% | 3.06% | 2.18% | 9.15% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of ZTAX is 18, meaning it’s performing worse than 82% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for X-Square Municipal Income Tax Free ETF (ZTAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
X-Square Municipal Income Tax Free ETF provided a 4.49% dividend yield over the last twelve months, with an annual payout of $1.19 per share.
| Period | TTM | 2024 | 2023 |
|---|---|---|---|
| Dividend | $1.19 | $1.24 | $0.56 |
Dividend yield | 4.49% | 4.56% | 2.14% |
Monthly Dividends
The table displays the monthly dividend distributions for X-Square Municipal Income Tax Free ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.54 | $0.00 | $0.54 | ||||||||||
| 2024 | $0.58 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.54 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $1.24 |
| 2023 | $0.36 | $0.00 | $0.20 | $0.00 | $0.00 | $0.00 | $0.56 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the X-Square Municipal Income Tax Free ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the X-Square Municipal Income Tax Free ETF was 11.89%, occurring on Oct 17, 2023. Recovery took 101 trading sessions.
The current X-Square Municipal Income Tax Free ETF drawdown is 5.94%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -11.89% | Jul 26, 2023 | 59 | Oct 17, 2023 | 101 | Mar 13, 2024 | 160 |
| -11.39% | Jun 24, 2024 | 31 | Aug 6, 2024 | — | — | — |
| -8.04% | May 26, 2023 | 1 | May 26, 2023 | 8 | Jun 8, 2023 | 9 |
| -7.38% | Jun 18, 2024 | 1 | Jun 18, 2024 | 2 | Jun 21, 2024 | 3 |
| -6.42% | Jun 22, 2023 | 15 | Jul 13, 2023 | 7 | Jul 24, 2023 | 22 |
Volatility
Volatility Chart
The current X-Square Municipal Income Tax Free ETF volatility is 6.09%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.