ZTAX X-Square Municipal Income ETF
Quote as of Aug 26, 2026 19:53 UTC · Market data delayed approximately 15–20 minutes unless otherwise indicated.
| Previous Close | 25.23 | Day Range | 25.00 – 25.50 |
| 52-Week Range | 23.67 – 28.64 | Volume | 4.56K |
| Avg Volume | 2.32K | AUM | $4.5M (Aug 27, 2026) |
| Expense Ratio | 0.86% | Yield (TTM) | 4.60% |
| NAV | 25.35 | Premium/Discount | +0.59% 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
Under normal market conditions, the fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes, if any) in tax-exempt municipal securities, the income from which is exempt from both federal and state income tax. The adviser expects to invest up to 100% of its assets in tax-exempt municipal securities issued by Puerto Rico, Guam and the U.S. Virgin Islands. Municipal securities may be of any maturity, duration or credit rating including those rated below investment grade (commonly known as “junk bonds”). The fund is non-diversified.
Description from the fund data provider · profile as of Aug 27, 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 | +0.08% | +1.27% | +0.95% | -0.51% | +2.20% | +0.86% | — | — | +1.03% |
| Total return | +0.08% | +3.45% | +3.36% | +3.91% | +7.01% | +5.83% | — | — | +6.05% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Aug 26, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.86% | Annual cost of a $10,000 investment | $86.00 |
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 Aug 22, 2026 — portfolio reporting date from the data provider; holdings are not live positions. 16 rows in database.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 18.98% | 1.00M | $966.0K |
| 2 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 16.34% | 875.00K | $831.7K |
| 3 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 8.69% | 450.00K | $442.3K |
| 4 | Matching Fund Special Purpose Securitization… | — | 8.57% | 425.00K | $436.2K |
| 5 | Commonwealth of Puerto Rico | — | 8.07% | 421.00K | $410.8K |
| 6 | Commonwealth of Puerto Rico | — | 5.70% | 268.24K | $290.1K |
| 7 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 5.53% | 280.00K | $281.6K |
| 8 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 5.13% | 250.00K | $260.9K |
| 9 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 5.07% | 250.00K | $258.2K |
| 10 | Puerto Rico Commonwealth Aqueduct & Sewer… | — | 4.63% | 250.00K | $235.5K |
| 11 | Commonwealth of Puerto Rico | — | 4.29% | 221.00K | $218.5K |
| 12 | Commonwealth of Puerto Rico | — | 3.56% | 178.18K | $181.2K |
| 13 | Commonwealth of Puerto Rico | — | 2.21% | 120.48K | $112.7K |
| 14 | Territory of Guam | — | 1.75% | 90.00K | $89.0K |
| 15 | Puerto Rico Sales Tax Financing Corp. Sales Tax… | — | 0.86% | 46.00K | $43.8K |
| 16 | Cash Equivalent | — | 0.63% | 32.23K | $32.2K |
Click a ticker to see every ETF that owns it.
Sector Exposure
Geographic Exposure
Country weights as reported by the data provider. Developed/emerging/frontier labels follow the classification on the Methodology page. Currency hedged: No hedging indicated in the fund name.
Distributions
| Yield (TTM) | 4.60% | Paid (last 12 months) | $1.1736 |
| Frequency | Quarterly | SEC yield | Not provided by our data source — see the issuer page |
| Last ex-date | Jul 02, 2026 | Last payment | $0.5476 (Jul 06, 2026) |
| Growth 1Y | -0.93% | Growth 3Y / 5Y (ann.) | — / — |
| Ex-date | Record | Pay date | Amount |
|---|---|---|---|
| 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 |
| Sep 29, 2023 | Oct 02, 2023 | Oct 03, 2023 | $0.2037 |
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 | 32.99% / 27.60% | Sharpe 1Y / 3Y | 0.281 / 0.227 |
| Max drawdown 1Y / 3Y | -11.27% / -15.34% | Sortino 1Y | 0.416 |
| Beta vs S&P 500 (3Y) | -0.114 | Correlation vs S&P 500 (1Y) | -0.099 |
| Downside deviation 1Y | 22.30% | Risk-free rate used | 3.71% (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 Aug 27, 2026. Formulas →
Liquidity
| Volume today | 4.56K | Average volume | 2.32K |
| AUM | $4.5M | Premium/Discount | +0.59% |
| 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% | $4.5M → $4.5M |
| 1 Week | -$23.3K | -0.51% | $4.5M → $4.5M |
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.