ZTAX X-Square Municipal Income ETF
Quote as of Oct 09, 2026 13:46 UTC · Market data delayed approximately 15–20 minutes unless otherwise indicated.
| Previous Close | 23.39 | Day Range | 22.99 – 23.39 |
| 52-Week Range | 22.03 – 28.65 | Volume | 25 |
| Avg Volume | 3.04K | AUM | $5.4M (Oct 10, 2026) |
| Expense Ratio | 0.92% | Yield (TTM) | 4.96% |
| NAV | 23.61 | Premium/Discount | -0.93% indicative |
| Inception | May 19, 2023 | Holdings | — |
| Issuer | X-Square | Exchange | AMEX |
| Category | Municipal Bonds | Index Tracked | Not stated in source data |
| CUSIP | 98422R104 | ISIN | US98422R1041 |
| Management | Not stated in source data | ||
About this ETF
The X-Square Municipal Income ETF (ZTAX) primarily allocates a minimum of 80% of its investment capital (inclusive of any assets acquired through borrowing) to municipal debt instruments that offer exemption from both federal and state income tax. Management anticipates that the fund could potentially direct its entire portfolio, up to 100% of its assets, into tax-exempt municipal bonds issued by specific U.S. territories, namely Puerto Rico, Guam, and the U.S. Virgin Islands. These municipal securities may encompass a broad range of maturities, durations, and credit qualities, extending to and including those rated below investment grade, frequently known as "junk bonds." A key characteristic of this fund is its non-diversified structure.
Description from the fund data provider · profile as of Oct 10, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | -6.40% | -5.69% | -7.91% | -8.74% | -7.11% | -0.81% | — | — | -1.55% |
| Total return | -6.40% | -5.69% | -5.95% | -4.69% | -2.99% | +3.79% | — | — | +3.17% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Oct 09, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.92% | Annual cost of a $10,000 investment | $92.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings as of Oct 10, 2026 · portfolio reporting date from the data provider; holdings are not live positions. 18 rows in database.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 17.34% | 1.05M | $939.3K |
| 2 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 14.09% | 875.00K | $763.2K |
| 3 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 10.18% | 596.00K | $551.6K |
| 4 | Matching Fund Special Purpose Securitization… | — | 7.65% | 425.00K | $414.8K |
| 5 | Commonwealth of Puerto Rico | — | 7.48% | 445.00K | $405.1K |
| 6 | Commonwealth of Puerto Rico | — | 5.20% | 268.24K | $281.9K |
| 7 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 4.64% | 250.00K | $251.2K |
| 8 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 4.60% | 280.00K | $249.4K |
| 9 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 4.50% | 250.00K | $243.8K |
| 10 | Commonwealth of Puerto Rico | — | 4.26% | 246.00K | $231.1K |
| 11 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 3.88% | 213.00K | $210.0K |
| 12 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 3.84% | 250.00K | $208.2K |
| 13 | Commonwealth of Puerto Rico | — | 3.49% | 221.48K | $188.9K |
| 14 | Commonwealth of Puerto Rico | — | 3.32% | 178.18K | $179.7K |
| 15 | Cash Equivalent | — | 2.04% | 110.39K | $110.4K |
| 16 | Territory of Guam | — | 1.57% | 90.00K | $84.9K |
| 17 | Commonwealth of Puerto Rico | — | 1.18% | 80.00K | $64.0K |
| 18 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 0.75% | 46.00K | $40.8K |
Click a ticker to see every ETF that owns it.
Sector Exposure
Distributions
| Yield (TTM) | 4.96% | Paid (last 12 months) | $1.1606 |
| Frequency | Quarterly | SEC yield | Not provided by our data source; see the issuer page |
| Last ex-date | Oct 02, 2026 | Last payment | $0.0464 (Oct 05, 2026) |
| Growth 1Y | -1.23% | Growth 3Y / 5Y (ann.) | — / — |
| Ex-date | Record | Pay date | Amount |
|---|---|---|---|
| Oct 02, 2026 | Oct 02, 2026 | Oct 05, 2026 | $0.0464 |
| Jul 02, 2026 | Jul 02, 2026 | Jul 06, 2026 | $0.5476 |
| Apr 02, 2026 | Apr 02, 2026 | Apr 06, 2026 | $0.0594 |
| Jan 02, 2026 | Jan 02, 2026 | Jan 05, 2026 | $0.5072 |
| Oct 02, 2025 | Oct 02, 2025 | Oct 03, 2025 | $0.0594 |
| Jul 02, 2025 | Jul 02, 2025 | Jul 07, 2025 | $0.5197 |
| Apr 02, 2025 | Apr 02, 2025 | Apr 04, 2025 | $0.0594 |
| Jan 02, 2025 | Jan 02, 2025 | Jan 03, 2025 | $0.5365 |
| Oct 02, 2024 | Oct 02, 2024 | Oct 03, 2024 | $0.0690 |
| Jul 01, 2024 | Jul 01, 2024 | Jul 02, 2024 | $0.5365 |
| Apr 01, 2024 | Apr 02, 2024 | Apr 03, 2024 | $0.0465 |
| Jan 02, 2024 | Jan 03, 2024 | Jan 04, 2024 | $0.5820 |
Trailing distribution yield = last 12 months of cash ÷ current price. It is NOT the SEC 30-day yield and distributions are not guaranteed to continue. The difference explained →
Risk Statistics
| Volatility 1Y / 3Y | 33.13% / 27.62% | Sharpe 1Y / 3Y | -0.049 / 0.137 |
| Max drawdown 1Y / 3Y | -16.32% / -16.32% | Sortino 1Y | -0.071 |
| Beta vs S&P 500 (3Y) | -0.121 | Correlation vs S&P 500 (1Y) | -0.099 |
| Downside deviation 1Y | 22.67% | Risk-free rate used | 4.05% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Oct 10, 2026. Formulas →
Liquidity
| Volume today | 25 | Average volume | 3.04K |
| AUM | $5.4M | Premium/Discount | -0.93% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV: an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Day | $0.00 | 0.00% | $5.4M → $5.4M |
| 1 Month | $1.1M | +24.73% | $4.5M → $5.4M |
| 1 Week | $710.5K | +14.67% | $4.8M → $5.4M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source; review them before investing.
Latest News for ZTAX
No articles mention this fund directly in the last 7 days; showing general ETF coverage.
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.