ZTAX Performance — X-Square Municipal Income Tax Free ETF
Data updated: 2026-08-14
ZTAX returned +3.62% year to date and +8.23% over one year to Jun 2026. The annualised 3-year return is +5.32%. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $117, against $112 for the category, and to $108 over one year, against $108. Volatility over the past three years was 5.68% a year. In the 12 months to Jun 2026 the fund took in a net $2.6M, and assets reached $7.22M.
ZTAX Growth of $100
What $100 invested in X-Square Municipal Income Tax Free ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | ZTAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $108 | $108 |
| 3 years (Jul 2023 – Jun 2026) | $117 | $112 |
| Since data start (Jun 2023 – Jun 2026) | $119 | $113 |
ZTAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +3.62% |
| 1 year | +8.23% |
| 3 years (annualised) | +5.32% |
ZTAX Annual Returns
Calendar-year total returns of X-Square Municipal Income Tax Free ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +3.62% |
| 2025 | +3.61% |
| 2024 | +2.80% |
| 2023 (Jun–Dec) | +7.68% |
ZTAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.2% | +1.1% | −1.9% | +1.0% | +1.0% | +1.1% | — | — | — | — | — | — |
| 2025 | +1.1% | +1.0% | −2.2% | −2.6% | +0.3% | +1.8% | −0.7% | +0.4% | +2.8% | +1.0% | +0.6% | +0.2% |
| 2024 | +0.4% | +1.3% | +1.0% | −1.0% | +0.7% | +0.3% | +0.6% | +0.3% | +1.1% | −0.7% | +1.1% | −2.3% |
| 2023 | — | — | — | — | — | +1.7% | +0.4% | −0.2% | −2.6% | −0.4% | +6.0% | +2.9% |
ZTAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 5.68%
- 3-year Sharpe ratio: 0.14 (vs 4.5% risk-free rate)
- Best month: +5.96% (Nov 2023)
- Worst month: −2.63% (Apr 2025)
ZTAX Fund Flows
Monthly money in and out of X-Square Municipal Income Tax Free ETF, from SEC Form N-PORT.
- 12-month net flow: $2.6M
- 12-month gross sales (incl. reinvestments): $3.2M
- Sales ÷ redemptions: 5.07×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $2.6M | $0 | $2.6M |
| May 2026 | $0 | $0 | $0 |
| Apr 2026 | $0 | $0 | $0 |
| Mar 2026 | $0 | $0 | $0 |
| Feb 2026 | $0 | $0 | $0 |
| Jan 2026 | $630K | $632K | −$2K |
| Dec 2025 | $0 | $0 | $0 |
| Nov 2025 | $0 | $0 | $0 |
| Oct 2025 | $0 | $0 | $0 |
| Sep 2025 | $0 | $0 | $0 |
| Aug 2025 | $0 | $0 | $0 |
| Jul 2025 | $0 | $0 | $0 |
ZTAX Assets Under Management
Net assets of X-Square Municipal Income Tax Free ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $7.22M |
| 2026-03-31 | $4.50M |
| 2025-12-31 | $4.57M |
| 2025-09-30 | $4.50M |
| 2025-06-30 | $4.48M |
| 2025-03-31 | $4.52M |
| 2024-12-31 | $3.98M |
| 2024-09-30 | $4.07M |
| 2024-06-30 | $4.07M |
| 2024-03-31 | $3.41M |
| 2023-12-31 | $3.40M |
| 2023-09-30 | $3.77M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.