BTOTvsZTAXETF Comparison
VS
iShares Total USD Fixed Income Market ETF (BTOT) belongs to the US Aggregate Bonds segment. X-Square Municipal Income Tax Free ETF (ZTAX) is part of the Municipal Bonds segment. BTOT's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, ZTAX's top sector exposures are Municipal and Non-Corporate. BTOT is less expensive with a Total Expense Ratio (TER) of 0.1%, versus 5.82% for ZTAX. BTOT is down -0.04% year-to-date (YTD) with +$5M in YTD flows. ZTAX performs better with 1.49% YTD performance, and +$686K in YTD flows. Run a side-by-side ETF comparison of BTOT 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.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
BTOT vs ZTAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BTOT ZTAX | +0.05%-0.28% | -0.67%-1.07% | -0.04%+1.49% | n/a+6.40% | n/a+13.75% | n/an/a |
| Flows | BTOT ZTAX | -- | +$5M+$689K | +$5M+$686K | -+$686K | -+$1M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BTOT ZTAX | +3.50%+3.96% | n/a+4.32% | n/a+5.34% | n/an/a |
| Max drawdown | BTOT ZTAX | -1.49%-2.41% | n/a-2.41% | n/a-8.75% | n/an/a |
| Max drawdown duration | BTOT ZTAX | 65d66d | n/a66d | n/a316d | n/an/a |
Trading data
BTOT | ZTAX | |
Last sale 9/4/2026 at 1:30 PM | $48.66 | $25.04 |
| Previous close 09/03/2026 | $48.72 | $25.04 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
ZTAX
is actively managed and doesn’t replicate an indexBTOT | ZTAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
BTOT | ZTAX | |
|---|---|---|
| Last price | $48.66 | $25.04 |
| 1D performance | -0.12% | -0.01% |
| AuM | $29.12 M | $5.06 M |
| E/R | 0.1% | 5.82% |
Characteristics
BTOT | ZTAX | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | X-Square Capital |
| Benchmark | Bloomberg US Total Fixed Income Market Index | - |
| N° of holdings | 1001 | 13 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 10, 2025 | May 19, 2023 |
| ESG | No | No |
Advertisement
Exposure
Countries
BTOT
USA
76.56%
Other
23.44%
ZTAX
USA
83.31%
Other
16.69%
Sectors
BTOT
Sovereign
44.98%
Finance
11.87%
Other
43.15%
ZTAX
Municipal
82.95%
Other
17.05%
Advertisement
Diversification
BTOT
Total weight of top 15 holdings out of 15
19.36%
ZTAX
Total weight of top 15 holdings out of 15
99.67%
Top 15 holdings
Data as of July 31, 2026
BTOT
BlackRock Cash Funds - Institutional
5.64%
US31418EB825
1.92%
FR SD8212, 2.5% 1may2052, USD (ABS)
1.32%
USA, Notes 3.875% 31jul2027, USD (BE-2027)
1.08%
Benchmark Mortgage Trust 2025-V18, 5.18365% 18oct2058, USD (ABS, A3)
1.03%
USA, Notes 4.875% 31oct2030, USD (R-2030)
0.93%
USA, Notes 3.625% 31aug2027, USD (BG-2027)
0.86%
US3140XPXH76
0.86%
USA, Notes 3.375% 15sep2027, USD (AS-2027)
0.86%
US01F0204895
0.85%
USA, Notes 4% 31jul2032, USD (N-2032)
0.85%
USA, Notes 4% 30apr2032, USD (K-2032)
0.84%
US01F0326821
0.84%
USA, Notes 1.875% 15feb2032, USD (B-2032)
0.75%
US31418EDD94
0.74%
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 BTOT and ZTAX
How have the BTOT and ZTAX ETFs performed in 2026?
As of September 2, 2026, BTOT is down -0.04% year-to-date (YTD), while ZTAX has returned 1.49%. That puts ZTAX better performer ahead so far this year.
Which ETF is attracting more investor money: BTOT or ZTAX?
Year-to-date, the BTOT ETF saw +$5M in flows, compared to +$686K for ZTAX.
Which ETF is bigger: BTOT or ZTAX?
As of September 2, 2026, BTOT holds $29.12 M in assets under management (AUM), while ZTAX manages $5.06 M.
What sectors do the BTOT and ZTAX ETFs invest in?
BTOT leans toward sectors like Sovereign and Finance. Meanwhile, ZTAX focuses on Municipal.
What are the top holdings of the BTOT ETF and ZTAX ETF?
BTOT top holdings include BlackRock Cash Funds - Institutional, US31418EB825 and FR SD8212, 2.5% 1may2052, USD (ABS). 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: BTOT or ZTAX?
BTOT holds 1055 securities with 19.36% of its assets in the top 15. ZTAX has 16 securities and a top 15 weight of 99.67%.
Advertisement
Latest news about BTOT & ZTAX
Advertisement
