MYMF vs. ZTAX

Last updated Aug 2, 2026

MYMF (State Street My2026 Municipal Bond ETF) and ZTAX (X-Square Municipal Income Tax Free ETF) are both Municipal Bonds funds. Both are actively managed. Over the past year, MYMF returned 2.30% vs 9.54% for ZTAX. Their -0.02 correlation means they have often moved in opposite directions in the past. MYMF charges 0.20%/yr vs 1.14%/yr for ZTAX.

Performance

MYMF vs. ZTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street My2026 Municipal Bond ETF (MYMF) and X-Square Municipal Income Tax Free ETF (ZTAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MYMF achieves a 0.94% return, which is significantly lower than ZTAX's 3.71% return.

MYMF

• 1D: 0.02%
• 1M: 0.12%
• 6M: 0.60%
• YTD: 0.94%
• 1Y: 2.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.17%

ZTAX

• 1D: -0.20%
• 1M: -0.78%
• 6M: 3.66%
• YTD: 3.71%
• 1Y: 9.54%
• 3Y*: 5.01%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MYMF State Street My2026 Municipal Bond ETF	$3.82K	$2.88K	$3.15K
ZTAX X-Square Municipal Income Tax Free ETF	$9.06K	$122.06K	$76.67K

MYMF vs. ZTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MYMF State Street My2026 Municipal Bond ETF	0.94%	3.01%	0.07%
ZTAX X-Square Municipal Income Tax Free ETF	3.71%	-1.02%	1.44%

Correlation

The correlation between MYMF and ZTAX is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	-0.02

Return for Risk

MYMF vs. ZTAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MYMF

MYMF Risk / Return Rank: 97
MYMF Sharpe Ratio Rank: 98
MYMF Sortino Ratio Rank: 98
MYMF Omega Ratio Rank: 98
MYMF Calmar Ratio Rank: 96
MYMF Martin Ratio Rank: 96

ZTAX

ZTAX Risk / Return Rank: 20
ZTAX Sharpe Ratio Rank: 16
ZTAX Sortino Ratio Rank: 18
ZTAX Omega Ratio Rank: 23
ZTAX Calmar Ratio Rank: 24
ZTAX Martin Ratio Rank: 21

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MYMF vs. ZTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street My2026 Municipal Bond ETF (MYMF) and X-Square Municipal Income Tax Free ETF (ZTAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MYMF	ZTAX	Difference
Sharpe ratio: Return per unit of total volatility	3.73	0.25	+3.48
Sortino ratio: Return per unit of downside risk	6.63	0.59	+6.04
Omega ratio: Gain probability vs. loss probability	2.21	1.10	+1.11
Calmar ratio: Return relative to maximum drawdown	6.72	0.72	+6.01
Martin ratio: Return relative to average drawdown	25.32	1.48	+23.84

MYMF vs. ZTAX - Sharpe Ratio Comparison

The current MYMF Sharpe Ratio is 3.73, which is higher than the ZTAX Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of MYMF and ZTAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MYMF vs. ZTAX - Drawdown Comparison

The maximum MYMF drawdown since its inception was -2.02%, smaller than the maximum ZTAX drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for MYMF and ZTAX.

Drawdown Indicators

	MYMF	ZTAX	Difference
Max Drawdown Largest peak-to-trough decline	-2.02%	-15.33%	+13.31%
Max Drawdown (1Y) Largest decline over 1 year	-0.38%	-11.26%	+10.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.33%	—
Current Drawdown Current decline from peak	0.00%	-8.94%	+8.94%
Average Drawdown Average peak-to-trough decline	-0.17%	-6.90%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.10%	5.43%	-5.33%

Volatility

MYMF vs. ZTAX - Volatility Comparison

The current volatility for State Street My2026 Municipal Bond ETF (MYMF) is 0.12%, while X-Square Municipal Income Tax Free ETF (ZTAX) has a volatility of 6.77%. This indicates that MYMF experiences smaller price fluctuations and is considered to be less risky than ZTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MYMF	ZTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	6.77%	-6.65%
Volatility (6M) Calculated over the trailing 6-month period	0.48%	25.70%	-25.22%
Volatility (1Y) Calculated over the trailing 1-year period	0.69%	32.80%	-32.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.58%	28.70%	-27.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.58%	28.70%	-27.12%

MYMF vs. ZTAX - Expense Ratio Comparison

MYMF has a 0.20% expense ratio, which is lower than ZTAX's 1.14% expense ratio.

Dividends

MYMF vs. ZTAX - Dividend Comparison

MYMF's dividend yield for the trailing twelve months is around 2.46%, less than ZTAX's 4.61% yield.

Position	TTM	2025	2024	2023
MYMF State Street My2026 Municipal Bond ETF	2.21%	2.80%	0.83%	0.00%
ZTAX X-Square Municipal Income Tax Free ETF	4.61%	4.58%	4.55%	2.14%

Frequently Asked Questions

Can I hold both MYMF and ZTAX in my portfolio?

MYMF and ZTAX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MYMF or ZTAX?

ZTAX has higher volatility (6.77%) compared to MYMF (0.12%). In terms of maximum drawdown, MYMF dropped -2.02% vs ZTAX's -15.33%.

Which ETF is better, MYMF or ZTAX?

On 1-year performance, ZTAX leads with 9.54% vs 2.30% for MYMF. On fees, MYMF is cheaper at 0.20% per year. On volatility, MYMF has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MYMF or ZTAX?

Over the 1-year period, ZTAX has performed better with a 9.54% return vs 2.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MYMF or ZTAX?

MYMF is cheaper with a 0.20% expense ratio, compared with 1.14% for ZTAX.

Which ETF pays a higher dividend yield, MYMF or ZTAX?

ZTAX has the higher dividend yield at 4.61%, compared with 2.21% for MYMF.

What is the main difference between MYMF and ZTAX?

They also come from different issuers: State Street and X-Square. Their fees differ too: 0.20% for MYMF and 1.14% for ZTAX.

Which has better risk-adjusted returns?

MYMF currently has the higher Sharpe Ratio (3.73 vs 0.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.