RVNU vs. ZTAX
RVNU (Xtrackers Municipal Infrastructure Revenue Bond ETF) and ZTAX (X-Square Municipal Income Tax Free ETF) are both Municipal Bonds funds. RVNU is passively managed, while ZTAX is actively managed. Over the past 3 years, RVNU returned 2.77%/yr vs 5.01%/yr for ZTAX. Their 0.07 correlation means their historical movements had little consistent relationship. RVNU charges 0.15%/yr vs 1.14%/yr for ZTAX.
Performance
RVNU vs. ZTAX - Performance Comparison
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Returns By Period
In the year-to-date period, RVNU achieves a 2.38% return, which is significantly lower than ZTAX's 3.71% return.
RVNU
- 1D
- -0.44%
- 1M
- -2.64%
- 6M
- 1.68%
- YTD
- 2.38%
- 1Y
- 7.65%
- 3Y*
- 2.77%
- 5Y*
- -0.74%
- 10Y*
- 1.68%
- ALL TIME*
- 2.79%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $970.49K | $605.73K | $654.06K | |
| $9.06K | $122.06K | $76.67K |
RVNU vs. ZTAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RVNU Xtrackers Municipal Infrastructure Revenue Bond ETF | 2.38% | 0.58% | 1.46% | 5.45% |
ZTAX X-Square Municipal Income Tax Free ETF | 3.71% | -1.02% | 7.98% | 3.74% |
Correlation
The correlation between RVNU and ZTAX is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 19, 2023 | 0.07 |
The correlation between RVNU and ZTAX shifts across timeframes, from -0.14 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RVNU vs. ZTAX — Risk / Return Rank
RVNU
ZTAX
RVNU vs. ZTAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Municipal Infrastructure Revenue Bond ETF (RVNU) 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.
| RVNU | ZTAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.10 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 0.72 | +2.41 |
| Martin ratioReturn relative to average drawdown | 10.37 | 1.48 | +8.89 |
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Drawdowns
RVNU vs. ZTAX - Drawdown Comparison
The maximum RVNU drawdown since its inception was -23.51%, which is greater than ZTAX's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for RVNU and ZTAX.
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Drawdown Indicators
| RVNU | ZTAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.51% | -15.33% | -8.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.64% | -11.26% | +8.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.81% | -15.33% | +5.52% |
Max Drawdown (5Y)Largest decline over 5 years | -23.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.51% | — | — |
Current DrawdownCurrent decline from peak | -4.05% | -8.94% | +4.89% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -6.90% | +1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 5.43% | -4.64% |
Volatility
RVNU vs. ZTAX - Volatility Comparison
The current volatility for Xtrackers Municipal Infrastructure Revenue Bond ETF (RVNU) is 1.50%, while X-Square Municipal Income Tax Free ETF (ZTAX) has a volatility of 6.77%. This indicates that RVNU 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.
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Volatility by Period
| RVNU | ZTAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 6.77% | -5.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.70% | 25.70% | -22.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.01% | 32.80% | -27.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 28.70% | -21.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.25% | 28.70% | -21.45% |
RVNU vs. ZTAX - Expense Ratio Comparison
RVNU has a 0.15% expense ratio, which is lower than ZTAX's 1.14% expense ratio.
Dividends
RVNU vs. ZTAX - Dividend Comparison
RVNU's dividend yield for the trailing twelve months is around 3.59%, less than ZTAX's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RVNU Xtrackers Municipal Infrastructure Revenue Bond ETF | 3.30% | 3.46% | 3.06% | 2.79% | 2.81% | 2.18% | 2.43% | 2.75% | 2.76% | 2.49% | 2.72% | 3.01% |
ZTAX X-Square Municipal Income Tax Free ETF | 4.61% | 4.58% | 4.55% | 2.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RVNU and ZTAX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZTAX has higher volatility (6.77%) compared to RVNU (1.50%). In terms of maximum drawdown, RVNU dropped -23.51% vs ZTAX's -15.33%.
On 3-year performance, ZTAX leads with 5.01% vs 2.77% for RVNU. On fees, RVNU is cheaper at 0.15% per year. On volatility, RVNU has been the lower-risk option at 1.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ZTAX has performed better with a 5.01% return vs 2.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RVNU is cheaper with a 0.15% expense ratio, compared with 1.14% for ZTAX.
ZTAX has the higher dividend yield at 4.61%, compared with 3.30% for RVNU.
They also come from different issuers: Deutsche Bank and X-Square. Their fees differ too: 0.15% for RVNU and 1.14% for ZTAX.
RVNU currently has the higher Sharpe Ratio (1.65 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.
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