X-Square Municipal Income ETFZTAX

X-SquareBonds & CashMunicipal#695 of 785 by YTD

$24.22

−0.5% last session

−1.1% YTD

Data as of 11/4/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · May 19, 2023 – Nov 4, 2026ZTAXS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−0.5%	+0.4%	−5.3%	−1.1%	−3.5%	+11.4%	—	+15.4%
Peer average	+0.3%	+3.3%	−0.5%	+0.6%	+1.0%	+15.1%	+2.7%	—
S&P 500 · VOO	+1.6%	−1.6%	0.0%	+13.4%	+13.5%	+91.7%	+81.2%	—

Key Statistics

Open all fund facts →

AUM: $5M
Expense ratio: 0.92%
Distribution yield: 4.8%
NAV: $24.43
Volume: 695
Avg. volume 30D: 2K
High today: $24.22
Low today: $24.00
Previous close: $24.35
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+2.6%$59.3M

#2OVMOverlay Shares+2.4%$44.9M

#3MYMGSPDR+2.2%$8.6M

#4TAXTFlexShares+2.1%$196M

#5SMMUPIMCO+2.1%$1.3B

#6FTMSFranklin Templeton+2.0%$265M

#7MYMFSPDR+1.9%$8.7M

#8IBMOiShares+1.9%$499M

#139ZTAXX-Square−1.1%$5.0M

End-of-day Nov 5, 2026 · 141 Municipal ETFs by YTD

$10,000 in ZTAX

$10,000 in ZTAX became

$11,539

In the S&P 500 (VOO)

$19,185

Total return, dividends in · May 19, 2023 – Nov 4, 2026 · S&P 500 uses VOO

ZTAX’s Top Holdings

Today

Puerto Rico SaPuerto Rico Sales Tax Financing Sales Tax Revenue39.9%Commonwealth28.0%Puerto Rico 19.8%Matching Fun8.5%Cash Equival2.0%Territory of1.8%

Puerto Rico SaPuerto Rico Sales Tax Financing Sales Tax Revenue39.9%Commonwealth28.0%Puerto Rico 19.8%Matching Fun8.5%Cash Equival2.0%Territory of

X-Square ZTAX · 0 holdings · tile size = share of the fund · as of Nov 4, 2026

What ZTAX Holds

Today

All holdings100.0%

Puerto Ric 39.9 · Commonweal 28.0 · Puerto Ric 19.8 · Matching F 8.5 · Cash Equiv 2.0 · Territory 1.8

X-Square ZTAX · share of the fund · as of Nov 4, 2026

Puerto’s Share of ZTAX

Today

39.9%

$399 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 4, 2026

ZTAX’s Share of Municipal ETFs

Today

0.0%

of the $244B in 166 Municipal ETFs

ZTAX$5.0M0.0%

MUB$54.5B22.3%

VTEB$49.6B20.3%

163 others$140B57.3%

Municipal ETF AUM · Nov 5, 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 5, 2026

Inside ZTAX

as of Nov 4, 2026

ZTAX

X-Square Municipal Income ETF

Today

All holdings100.0%Puerto Rico Puerto Rico Sales Tax Financing Sales Tax Revenue39.9%Commonweal28.0%Puerto Ric19.8%Matching F8.5%Cash Equiv2.0%Territory 1.8%

All holdings100.0%Puerto Rico Puerto Rico Sales Tax Financing Sales Tax Revenue39.9%Commonweal28.0%Puerto Ric19.8%Matching F8.5%

#	Ticker	Company	Weight ▼
1	—	Puerto Rico Sales Tax Financing Sales Tax Revenue	39.94%
2	—	Commonwealth of Puerto Rico	28.00%
3	—	Puerto Rico Commonwealth Aqueduct & Sewer Authority	19.80%
4	—	Matching Fund Special Purpose Securitization	8.53%
5	—	Cash Equivalent	1.98%
6	—	Territory of Guam	1.76%

X-Square ZTAX · current holdings by weight · as of Nov 4, 2026 · each tile is one holding

How It Compares

ZTAX

X-Square Municipal Income ETF’s Peers

YTD


MUB	iSharesRead Desk	0.05%	+0.1%	+0.7%	$54.5B
VTEB	VanguardRead Desk	0.03%	+0.2%	+0.7%	$49.6B
SUB	iSharesRead Desk	0.07%	+1.5%	+2.3%	$13.3B
JMUB	J.P. MorganRead Desk	0.18%	+0.3%	+0.8%	$9.0B
CGMU	Capital GroupRead Desk	0.27%	+0.8%	+1.4%	$7.5B
ZTAX	X-SquareThis fundRead Desk	0.92%	−1.1%	−3.5%	$5M

Municipal peers · YTD and past-year returns · as of Nov 5, 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

+0.1%

−1.1%

MUB wins+1.2 pts

Past year

+0.7%

−3.5%

MUB wins+4.2 pts

Fee

0.05%

0.92%

MUB winslower fee

Yield

3.3%

4.8%

ZTAX wins+1.5 pts

AUM

$54.5B

$5.0M

MUB10932.0× more

3–1MUB wins

iShares MUB and X-Square ZTAX · year-to-date · as of Nov 5, 2026 · AUM not scored

ZTAX vs VOO

YTD

ZTAX · X-Square Municipal Income

−1.1%

VOO · S&P 500

+13.4%

Gap

14.5 pts

X-Square ZTAX and Vanguard VOO · YTD total return · as of Nov 5, 2026

ZTAX vs Its Peer Average

YTD

ZTAXAvsBPeer average

1D−0.5%+0.3%

1M+0.4%+3.3%

3M−5.3%−0.5%

YTD−1.1%+0.6%

1Y−3.5%+1.0%

3Y+11.4%+15.1%

5Y[…]+2.7%

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

$24.22

$21.26−15.5% from the high$28.65

X-Square ZTAX · past-year price moves · as of Nov 5, 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 5, 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$24.43

Premium / discount[…]

Median spread · 30D[…]

Volume today695

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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