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ZTAX ETF · X-Square Municipal Income Tax Free ETF
The ZTAX Exchange Traded Fund (ETF) is provided by X-Square Capital. This fund is actively managed; it does not track an index. This share class generates a stream of income by distributing dividends.
Last update Yesterday at 1:30 PM UTC
LIVE
CLOSED
This fund is part ofMunicipal Bonds1M perf.-0.65%
Last price
$25.73
1M perf.
-0.74%
1M flows
N/A
AuM
€4M
E/R
7.63%
Rating
Not rated
ESG Consensus®
ZTAX
$25.73
Performance & flows
Segment for quartile rank
December 17, 2025 → March 17, 2026
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ZTAX
$25.36
+1.15%
Municipal Bonds
+1.04%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.74%  | +1.15%  | +4.03% | N/A | N/A | -1.05% | +1.27% | +1.27%  | |
| Flows |
Key fund info
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This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
More details
NAV
3/17/2026
$25.36
1D NAV change
+0.16%
Dividend policy
No. of holdings
12
Inception date
5/19/2023
Jurisdiction
United States
Distribution
United States
Legal structure
Open-end Investment Company
Base currency
USD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Investment strategy
X-Square Municipal Income Tax Free ETF (the “Fund”) seeks to provide income exempt from federal income tax
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +1.15% | +4.03% | N/A | N/A |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
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Countries
USA
94.20%
Unavailable
5.80%
Sectors
Municipal
75.05%
Unavailable
24.95%
Diversification
Total weight of top 12 holdings out of 12
Top 12 holdings
Data as of January 31, 2026
Puerto Rico Sales Tax Financing Corp., 4.784% 1jul2058, USD
Puerto Rico, 4% 1jul2035, USD
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
Matching Fund Securitization Corp., 5% 1oct2039, USD (2022A)
Puerto Rico, 4% 1jul2037, USD
Puerto Rico, 5.625% 1jul2027, USD
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US745160SJ13
Puerto Rico, 5.75% 1jul2031, USD
US745160UD15
US745160TT85
US40065NCQ88
Puerto Rico, 4% 1jul2041, USD
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Enterprise
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Integrates ESG criteria
No
SDG
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
X-Square Capital
X-Square Capital ID Card
Number of funds
1
Total AuM
€4M
Expense ratio range
7.63% - 7.63%
Average expense ratio
7.63%
Top 1 funds by X-Square Capital
| AuM | ||
|---|---|---|
ZTAX | X-Square Municipal Income Tax Free ETF | €4M |
Frequently asked questions about ZTAX
What does X-Square Municipal Income Tax Free ETF, ZTAX, invest in?
ZTAX is a Active ETF. This ETF provides exposure to US Mixed Ratings Municipal Bonds.
What is the Total Expense ratio (TER) of ZTAX?
ZTAX carries a total expense ratio (TER) of 7.63%, indicating the annual cost for holding the fund.
When was ZTAX launched?
ZTAX was introduced to the market on May 19, 2023. It trades on United States
Who is the ETF issuer of ZTAX?
X-Square Municipal Income Tax Free ETF, ZTAX, is provided by X-Square Capital. Learn more about X-Square Capital here.
What is the current assets under management (AUM) of ZTAX?
ZTAX oversees €4M in assets as of March 17, 2026.
How has ZTAX performed lately?
Based on data from March 17, 2026, ZTAX returned -0.74% over the past month, 1.15% over the last three months and 1.27% year-to-date.
What are the latest inflows or outflows for ZTAX?
As of March 17, 2026, ZTAX recorded net flows of +€16K year-to-date.
Does ZTAX distribute dividends?
ZTAX follows a distributing dividend policy, meaning it pays out income to investors. As of March 17, 2026, its 12-month trailing yield was 4.52%.
What are the main country or region exposures of ZTAX?
As of January 31, 2026, ZTAX has significant geographic allocations in USA.
In which sector or theme does ZTAX invest in?
As of January 31, 2026, ZTAX focuses largely on Municipal.
How many securities does ZTAX hold and how diversified is it?
As of January 31, 2026, ZTAX holds 12 positions in its portfolio, with 94.20% of assets concentrated in its top 15 holdings.
What are the main positions in ZTAX?
As of January 31, 2026, ZTAX top three holdings include Puerto Rico Sales Tax Financing Corp., 4.784% 1jul2058, USD, Puerto Rico, 4% 1jul2035, USD and Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD.
What is the base currency of ZTAX?
The base currency of ZTAX is USD.
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