X-Square Municipal Income ETFZTAX

X-SquareBonds & CashMunicipal#702 of 786 by YTD

$24.24

+0.1% last session

−1.0% YTD

Data as of 11/5/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Oct 7, 2026 – Nov 5, 2026ZTAXS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.1%	+3.3%	−4.9%	−1.0%	−3.5%	+11.4%	—	+15.5%
Peer average	+0.3%	+4.1%	−0.5%	+0.9%	+1.2%	+15.4%	+2.9%	—
S&P 500 · VOO	−4.4%	−5.7%	−4.9%	+8.4%	+9.8%	+82.2%	+71.6%	—

Key Statistics

Open all fund facts →

AUM: $5M
Expense ratio: 0.92%
Distribution yield: 4.8%
NAV: $24.63
Volume: 353
Avg. volume 30D: 2K
High today: $24.24
Low today: $24.23
Previous close: $24.22
52-week high: $28.65
52-week low: $21.26
Our risk indicator: 2/5

ZTAX in One Breath

ZTAX Among Municipal ETFs

YTD

#1MMMANY Life Investments+2.7%$59.8M

#2MYMGSPDR+2.4%$8.6M

#3TAXTFlexShares+2.4%$198M

#4SMMUPIMCO+2.3%$1.3B

#5SHYMiShares+2.2%$929M

#6FTMSFranklin Templeton+2.1%$266M

#7MUNAFlexShares+2.0%$8.0M

#8CGSMCapital Group+2.0%$1.7B

#139ZTAXX-Square−1.0%$5.0M

End-of-day Nov 6, 2026 · 141 Municipal ETFs by YTD

$10,000 in ZTAX

$10,000 in ZTAX became

$11,548

In the S&P 500 (VOO)

$18,346

Total return, dividends in · May 19, 2023 – Nov 5, 2026 · S&P 500 uses VOO

ZTAX’s Top Holdings

Today

Puerto Rico SaPuerto Rico Sales Tax Financing Sales Tax Revenue40.1%Commonwealth28.0%Puerto Rico 19.8%Matching Fun8.5%Cash Equival1.8%Territory of1.8%

X-Square ZTAX · 18 holdings · top 6 shown · tile size = share of the fund · as of Nov 5, 2026

What ZTAX Holds

Today

All holdings100.0%

Puerto Ric 40.1 · Commonweal 28.0 · Puerto Ric 19.8 · Matching F 8.5 · Cash Equiv 1.8 · Territory 1.8

X-Square ZTAX · share of the fund · as of Nov 5, 2026

Puerto’s Share of ZTAX

Today

40.1%

$401 of every $1,000 in ZTAX is Puerto

Puerto held by ZTAX

$2.0M

X-Square ZTAX · each square = $10 of $1,000 · as of Nov 5, 2026

ZTAX’s Share of Municipal ETFs

Today

0.0%

of the $245B in 166 Municipal ETFs

ZTAX$5.0M0.0%

MUB$54.9B22.4%

VTEB$49.6B20.2%

163 others$141B57.4%

Municipal ETF AUM · Nov 6, 2026

ZTAX Fee per $100 vs Peers

Today

$0.92a year
per $100

$92 a year on $10,000

VTEB$0.03

MUB$0.05

SUB$0.07

JMUB$0.18

CGMU$0.27

ZTAX$0.92

Expense ratio · Municipal peers · Nov 6, 2026

Inside ZTAX

6 holdings · as of Nov 5, 2026

ZTAX

X-Square Municipal Income ETF

Today

All holdings100.0%Puerto Rico Puerto Rico Sales Tax Financing Sales Tax Revenue40.1%Commonweal28.0%Puerto Ric19.8%Matching F8.5%Cash Equiv1.8%Territory 1.8%

All holdings100.0%Puerto Rico Puerto Rico Sales Tax Financing Sales Tax Revenue40.1%Commonweal28.0%Puerto Ric19.8%Matching F8.5%

#	Ticker	Company	Weight ▼
1	—	Puerto Rico Sales Tax Financing Sales Tax Revenue	40.09%
2	—	Commonwealth of Puerto Rico	27.99%
3	—	Puerto Rico Commonwealth Aqueduct & Sewer Authority	19.80%
4	—	Matching Fund Special Purpose Securitization	8.52%
5	—	Cash Equivalent	1.84%
6	—	Territory of Guam	1.76%

See all 18 holdings ↓

X-Square ZTAX · current holdings by weight · as of Nov 5, 2026 · each tile is one holding

All ZTAX Holdings

18 holdings · as of Nov 5, 2026

ZTAX

ZTAX’s Holdings

Today

#
1	—Puerto Rico Sales Tax Financing Sales Tax Revenue	15.99%	$1,598.71	875K	$800K
2	—Puerto Rico Sales Tax Financing Sales Tax Revenue	11.45%	$1,145.28	596K	$573K
3	—Commonwealth of Puerto Rico	8.54%	$853.52	445K	$427K
4	—Matching Fund Special Purpose Securitization	8.52%	$852.00	425K	$426K
5	—Puerto Rico Sales Tax Financing Sales Tax Revenue	7.54%	$754.30	401K	$377K
6	—Commonwealth of Puerto Rico	5.74%	$573.52	268K	$287K
7	—Puerto Rico Commonwealth Aqueduct & Sewer Authority	5.31%	$531.15	280K	$266K
8	—Puerto Rico Commonwealth Aqueduct & Sewer Authority	5.05%	$505.10	250K	$253K
9	—Puerto Rico Commonwealth Aqueduct & Sewer Authority	5.04%	$504.09	250K	$252K
10	—Commonwealth of Puerto Rico	4.79%	$478.87	246K	$240K
11	—Puerto Rico Commonwealth Aqueduct & Sewer Authority	4.40%	$440.00	250K	$220K
12	—Puerto Rico Sales Tax Financing Sales Tax Revenue	4.26%	$425.79	213K	$213K
13	—Commonwealth of Puerto Rico	3.98%	$397.94	221K	$199K
14	—Commonwealth of Puerto Rico	3.61%	$360.52	178K	$180K
15	—Cash Equivalent	1.84%	$183.76	92K	$92K

X-Square ZTAX · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 5, 2026

How It Compares

ZTAX

X-Square Municipal Income ETF’s Peers

YTD


MUB	iSharesRead Desk	0.05%	+0.5%	+0.9%	$54.9B
VTEB	VanguardRead Desk	0.03%	+0.6%	+0.9%	$49.6B
SUB	iSharesRead Desk	0.07%	+1.6%	+2.4%	$13.4B
JMUB	J.P. MorganRead Desk	0.18%	+0.8%	+1.1%	$9.1B
CGMU	Capital GroupRead Desk	0.27%	+1.1%	+1.7%	$7.6B
ZTAX	X-SquareThis fundRead Desk	0.92%	−1.0%	−3.5%	$5M

Municipal peers · YTD and past-year returns · as of Nov 6, 2026 · sorted by AUM

Head to Head

Put ZTAX head to head with MUB →

MUB vs ZTAX

YTD

MUBiShares · MunicipalZTAXX-Square · Municipal

Year to date

+0.5%

−1.0%

MUB wins+1.5 pts

Past year

+0.9%

−3.5%

MUB wins+4.5 pts

Fee

0.05%

0.92%

MUB winslower fee

Yield

3.3%

4.8%

ZTAX wins+1.5 pts

AUM

$54.9B

$5.0M

MUB10922.1× more

3–1MUB wins

iShares MUB and X-Square ZTAX · year-to-date · as of Nov 6, 2026 · AUM not scored

ZTAX vs VOO

YTD

ZTAX · X-Square Municipal Income

−1.0%

VOO · S&P 500

+8.4%

Gap

9.4 pts

X-Square ZTAX and Vanguard VOO · YTD total return · as of Nov 6, 2026

ZTAX vs Its Peer Average

YTD

ZTAXAvsBPeer average

1D+0.1%+0.3%

1M+3.3%+4.1%

3M−4.9%−0.5%

YTD−1.0%+0.9%

1Y−3.5%+1.2%

3Y+11.4%+15.4%

5Y[…]+2.9%

0–6Peer average wins

165 Municipal peers · each row scaled to its leader

The Details

ZTAX

Risk

2/5our risk indicator

CalmerBumpier

Volatility · 1Y35.56%

Deepest drop · 1Y−23.8%

Lowest point · 5Y0.0%

52-week range

$24.24

$21.26−15.4% from the high$28.65

X-Square ZTAX · past-year price moves · as of Nov 6, 2026

ZTAX

Fund Facts

Today

2023launched May 19

Tracks[…]

Exchange · CUSIPAMEX · 98422R104

StructureETF

Leverage1x

Cost on $10,000$92 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

X-Square ZTAX · fund facts · as of Nov 6, 2026

ZTAX

Payouts by Year

$0.0464per share, Oct 2026

Distribution yield4.8%

PaidEvery quarter

Latest ex-date · paidOct 2 · Oct 5, 2026

12 payouts added up$3.57 a share

X-Square ZTAX · distributions by ex-date · 2023–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Official documents are being connected from SEC EDGAR: […]. Read the issuer’s prospectus before investing.

Trading & Liquidity

Net asset value$24.63

Premium / discount[…]

Median spread · 30D[…]

Volume today353

Average volume · 30D2K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.92%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$92.00

Our risk indicator2/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 2, 2026	Oct 5, 2026	$0.0464
Jul 2, 2026	Jul 6, 2026	$0.55
Apr 2, 2026	Apr 6, 2026	$0.0594
Jan 2, 2026	Jan 5, 2026	$0.51
Oct 2, 2025	Oct 3, 2025	$0.0594
Jul 2, 2025	Jul 7, 2025	$0.52
Apr 2, 2025	Apr 4, 2025	$0.0594
Jan 2, 2025	Jan 3, 2025	$0.54
Oct 2, 2024	Oct 3, 2024	$0.0690
Jul 1, 2024	Jul 2, 2024	$0.54
Apr 1, 2024	Apr 3, 2024	$0.0465
Jan 2, 2024	Jan 4, 2024	$0.58

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