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 above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
X-Square Municipal Income Tax Free ETF (ZTAX) returned -7.76% year-to-date (YTD) and -2.11% over the past 12 months.
ZTAX
-7.76%
1.16%
-6.44%
-2.11%
N/A
N/A
N/A
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
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% | -2.95% | -2.07% | -3.73% | 1.16% | -7.76% | |||||||
| 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% | 7.98% |
| 2023 | 2.98% | 1.58% | -0.11% | -0.79% | -0.18% | 0.16% | 3.06% | 2.18% | 9.14% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of ZTAX is 12, meaning it’s performing worse than 88% 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.
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Dividends
Dividend History
X-Square Municipal Income Tax Free ETF provided a 4.92% dividend yield over the last twelve months, with an annual payout of $1.20 per share.
| Period | TTM | 2024 | 2023 |
|---|---|---|---|
| Dividend | $1.20 | $1.24 | $0.56 |
Dividend yield | 4.92% | 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 | $0.00 | $0.06 | $0.00 | $0.60 | |||||||
| 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.
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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 15.33%, occurring on Apr 10, 2025. The portfolio has not yet recovered.
The current X-Square Municipal Income Tax Free ETF drawdown is 13.11%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.33% | Jun 24, 2024 | 201 | Apr 10, 2025 | — | — | — |
| -11.9% | Jul 26, 2023 | 59 | Oct 17, 2023 | 101 | Mar 13, 2024 | 160 |
| -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 chart below shows the rolling one-month volatility.
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