X-Square Municipal Income Tax Free ETF (ZTAX) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ZTAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ZTAX
ZTAX charges 1.14% annually. There are 141 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | ZTAX vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | ZTAX vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | ZTAX vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 169.01M | Aug 2025 | ZTAX vs TAXI | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | ZTAX vs TAXT |
Best Risk-Adjusted Alternatives to ZTAX
ZTAX has a PortfoliosLab risk / return rank of 21. There are 109 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | ZTAX vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | ZTAX vs MYMG | |
| Allspring Ultra Short Municipal ETF | 96 | 30.06M | Jul 2025 | ZTAX vs AUSM | |
| Goldman Sachs Ultra Short Municipal Income ETF | 96 | 54.13M | Jul 2024 | ZTAX vs GUMI | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.36B | Mar 2015 | ZTAX vs MEAR |
Top Performing ZTAX Alternatives (YTD)
ZTAX is at 2.90% YTD. No ETFs in the Municipal Bonds category have higher YTD returns; the top-performing alternatives shown here go as high as 2.46%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Overlay Shares Municipal Bond ETF | 2.46% | 30.60M | Sep 2019 | ZTAX vs OVM | |
| NYLI MacKay Muni Allocation ETF | 2.45% | 28.01M | Dec 2025 | ZTAX vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.42% | 142.95M | Jun 2013 | ZTAX vs RVNU | |
| T. Rowe Price High Income Municipal ETF | 2.17% | 26.19M | Nov 2025 | ZTAX vs THYM | |
| State Street SPDR Nuveen ICE High Yield Municipal ... | 2.09% | 3.17B | Apr 2011 | ZTAX vs HYMB |
Lowest Volatility Alternatives to ZTAX
ZTAX has 32.85% 1-year volatility. There are 141 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | ZTAX vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.65% | 8.74M | Sep 2024 | ZTAX vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | ZTAX vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | ZTAX vs AUSM | |
| State Street My2027 Municipal Bond ETF | 0.82% | 8.63M | Sep 2024 | ZTAX vs MYMG |
Lowest Drawdown Alternatives to ZTAX
ZTAX has a 1-year max drawdown of -11.26%. There are 109 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.23%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.23% | 246.47M | Nov 2018 | ZTAX vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | ZTAX vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | ZTAX vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | ZTAX vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | ZTAX vs IBMO |
Often Compared With ZTAX
Investors most often compare ZTAX with TAXF, MMIN, BSMR. These 20 comparison targets span 2 categories, based on PortfoliosLab usage data.
Compare ZTAX with Any Fund or Stock
Compare ZTAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ZTAX with funds that move differently
X-Square Municipal Income Tax Free ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ZTAX.
Explore ZTAX Diversifiers