BABvsZTAXETF Comparison
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Invesco Taxable Municipal Bond ETF (BAB) and X-Square Municipal Income Tax Free ETF (ZTAX) belong to the same industry segment: Municipal Bonds. BAB's top 2 sector exposures are Municipal and Industrials. In contrast, ZTAX's top sector exposures are Municipal and Non-Corporate. BAB is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 5.82% for ZTAX. BAB is down -3.4% year-to-date (YTD) with -$121M in YTD flows. ZTAX performs better with -0.14% YTD performance, and +$686K in YTD flows. Run a side-by-side ETF comparison of BAB and ZTAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BAB vs ZTAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/17/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BAB ZTAX | -1.02%-2.48% | -2.56%-2.92% | -3.40%-0.14% | -2.83%+1.08% | +11.42%+12.23% | -8.79%n/a |
| Flows | BAB ZTAX | -$116M- | -$149M+$689K | -$121M+$686K | -$10M+$686K | -$661M+$1M | -$985M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BAB ZTAX | +4.77%+5.12% | +4.67%+4.42% | +6.51%+5.42% | +7.57%n/a |
| Max drawdown | BAB ZTAX | -3.99%-4.34% | -6.11%-4.34% | -6.11%-8.75% | -24.57%n/a |
| Max drawdown duration | BAB ZTAX | 80d80d | 200d80d | 200d316d | 1747dn/a |
Trading data
BAB | ZTAX | |
Last sale 9/18/2026 at 6:26 PM | $25.93 | $24.82 |
| Previous close 09/17/2026 | $26.07 | $24.88 |
| Consolidated volume 09/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 18, 2026
1-year trailing difference
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ZTAX
is actively managed and doesn’t replicate an indexBAB | ZTAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/18/2026 at 6:26 PM
Live
Closed
BAB | ZTAX | |
|---|---|---|
| Last price | $25.93 | $24.82 |
| 1D performance | -0.54% | -0.24% |
| AuM | $867.68 M | $4.98 M |
| E/R | 0.28% | 5.82% |
Characteristics
BAB | ZTAX | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | X-Square Capital |
| Benchmark | ICE BofAML US Taxable Municipal Securities Plus Index | - |
| N° of holdings | 1315 | 13 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 17, 2009 | May 19, 2023 |
| ESG | No | No |
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Exposure
Countries
BAB
USA
88.17%
Other
11.83%
ZTAX
USA
83.31%
Other
16.69%
Sectors
BAB
Municipal
88.16%
Other
11.84%
ZTAX
Municipal
82.95%
Other
17.05%
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Diversification
BAB
Total weight of top 15 holdings out of 15
11.41%
ZTAX
Total weight of top 15 holdings out of 15
99.67%
Top 15 holdings
Data as of July 31, 2026
BAB
Illinois, 5.1% 1jun2033, USD
1.43%
California, 7.55% 1apr2039, USD
1.30%
California, 7.6% 1nov2040, USD
0.87%
California, 7.5% 1apr2034, USD
0.85%
Illinois, 6.9% 1mar2035, USD (2010-2)
0.83%
California, 7.3% 1oct2039, USD
0.69%
New Jersey Turnpike Authority, 7.102% 1jan2041, USD (2010A)
0.67%
Texas Natural Gas Securitization Finance, 5.169% 1apr2041, USD
0.67%
California, 5.1% 1mar2029, USD
0.65%
California, 7.35% 1nov2039, USD (2009)
0.64%
Metro (OR), 3.25% 1jun2028, USD (2019)
0.61%
New Jersey Turnpike Authority, 7.414% 1jan2040, USD
0.57%
Massachusetts, 4.91% 1may2029, USD
0.56%
New Jersey Economic Development Authority, 7.425% 15feb2029, USD
0.55%
California, 7.625% 1mar2040, USD (2010)
0.52%
ZTAX
Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD
18.97%
Puerto Rico Sales Tax Financing Corp., 4.784% 1jul2058, USD
16.33%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
8.67%
Matching Fund Special Purpose Securitization Corp., 5% 1oct2039, USD (2022A)
8.60%
Puerto Rico, 4% 1jul2037, USD
8.12%
Puerto Rico, 5.75% 1jul2031, USD
5.71%
Puerto Rico Aqueduct and Sewer Authority, 5% 1jul2047, USD (2020A)
5.57%
US745160UD15
5.17%
US745160TP63
5.08%
US745160TT85
4.73%
Puerto Rico, 4% 1jul2035, USD
4.32%
Puerto Rico, 5.625% 1jul2027, USD
3.58%
Puerto Rico, 4% 1jul2041, USD
2.23%
US40065NCQ88
1.75%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
0.86%
Frequently asked questions about BAB and ZTAX
How have the BAB and ZTAX ETFs performed in 2026?
As of September 17, 2026, BAB is down -3.4% year-to-date (YTD), while ZTAX has lost -0.14%. That puts ZTAX better performer ahead so far this year.
Which ETF is attracting more investor money: BAB or ZTAX?
Year-to-date, the BAB ETF saw -$121M in flows, compared to +$686K for ZTAX.
Which ETF is more volatile: BAB or ZTAX?
Over the past year, BAB had a volatility of 4.67%, while ZTAX experienced 4.42%.
Which ETF is bigger: BAB or ZTAX?
As of September 17, 2026, BAB holds $867.68 M in assets under management (AUM), while ZTAX manages $4.98 M.
What sectors do the BAB and ZTAX ETFs invest in?
BAB leans toward sectors like Municipal. Meanwhile, ZTAX focuses on Municipal.
What are the top holdings of the BAB ETF and ZTAX ETF?
BAB top holdings include Illinois, 5.1% 1jun2033, USD, California, 7.55% 1apr2039, USD and California, 7.6% 1nov2040, USD. ZTAX holds in its top three: Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD, Puerto Rico Sales Tax Financing Corp., 4.784% 1jul2058, USD and Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD.
Which ETF is more diversified: BAB or ZTAX?
BAB holds 1920 securities with 11.41% of its assets in the top 15. ZTAX has 16 securities and a top 15 weight of 99.67%.
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Latest news about BAB & ZTAX
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