FTRBvsZTAXETF Comparison
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Federated Hermes Total Return Bond ETF (FTRB) belongs to the US Aggregate Bonds segment. X-Square Municipal Income Tax Free ETF (ZTAX) is part of the Municipal Bonds segment. FTRB's top 3 sector exposures are Sovereign, Non-Corporate and Finance. In contrast, ZTAX's top sector exposures are Municipal and Non-Corporate. FTRB is less expensive with a Total Expense Ratio (TER) of 0.51%, versus 5.82% for ZTAX. FTRB is down -0.44% year-to-date (YTD) with +$289M in YTD flows. ZTAX performs better with 1.78% YTD performance, and +$686K in YTD flows. Run a side-by-side ETF comparison of FTRB 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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FTRB vs ZTAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTRB ZTAX | -0.08%+0.08% | -0.78%-0.67% | -0.44%+1.78% | +2.18%+6.70% | n/a+14.12% | n/an/a |
| Flows | FTRB ZTAX | +$44M- | +$89M+$689K | +$289M+$686K | +$312M+$686K | -+$1M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTRB ZTAX | +3.71%+3.79% | +3.64%+4.29% | n/a+5.33% | n/an/a |
| Max drawdown | FTRB ZTAX | -1.64%-2.17% | -2.67%-2.17% | n/a-8.75% | n/an/a |
| Max drawdown duration | FTRB ZTAX | 64d64d | 184d64d | n/a316d | n/an/a |
Trading data
FTRB | ZTAX | |
Last sale 9/2/2026 at 1:30 PM | $24.67 | $25.05 |
| Previous close 09/01/2026 | $24.67 | $25.37 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
FTRB | ZTAX | |
|---|---|---|
| Last price | $24.67 | $25.05 |
| 1D performance | +0.00% | -1.30% |
| AuM | $627.30 M | $5.08 M |
| E/R | 0.51% | 5.82% |
Characteristics
FTRB | ZTAX | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Federated Investment Management | X-Square Capital |
| Benchmark | - | - |
| N° of holdings | 2317 | 13 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 4, 2024 | May 19, 2023 |
| ESG | No | No |
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Exposure
Countries
FTRB
USA
86.82%
Other
13.18%
ZTAX
USA
83.31%
Other
16.69%
Sectors
FTRB
Sovereign
30.14%
Non-Corporate
22.5%
Finance
9.61%
Other
37.75%
ZTAX
Municipal
82.95%
Other
17.05%
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Diversification
FTRB
Total weight of top 15 holdings out of 15
58.84%
ZTAX
Total weight of top 15 holdings out of 15
99.67%
Top 15 holdings
Data as of July 31, 2026
FTRB
Federated Mortgage Core Portfolio
16.16%
Federated Hermes Project & Trade Finance Tender Fund
7.56%
USA, Bonds 5% 15may2056, USD
6.83%
USA, Notes 4.125% 15jul2029, USD (AQ-2029)
5.96%
USA, Notes 4.25% 30jun2033, USD (M-2033)
5.38%
Federated Emerging Markets Core Fund
3.34%
USA, TIPS 1.875% 15jan2036, USD (A-2036)
3.08%
USA, Notes 4.125% 30jun2031, USD (AA-2031)
2.87%
Federated High Yield Bond Portfolio
2.66%
USA, TIPS 1.25% 15apr2031, USD (X-2031)
1.52%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.08%
USA, Notes 4.125% 30jun2028, USD (BD-2028)
0.85%
FR SD8193, 2% 1feb2052, USD (ABS)
0.54%
USA, TIPS 2.375% 15jul2036, USD (D-2036)
0.51%
USA, Bonds 5% 15may2046, USD
0.50%
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 FTRB and ZTAX
How have the FTRB and ZTAX ETFs performed in 2026?
As of September 1, 2026, FTRB is down -0.44% year-to-date (YTD), while ZTAX has returned 1.78%. That puts ZTAX better performer ahead so far this year.
Which ETF is attracting more investor money: FTRB or ZTAX?
Year-to-date, the FTRB ETF saw +$289M in flows, compared to +$686K for ZTAX.
Which ETF is more volatile: FTRB or ZTAX?
Over the past year, FTRB had a volatility of 3.64%, while ZTAX experienced 4.29%.
Which ETF is bigger: FTRB or ZTAX?
As of September 1, 2026, FTRB holds $627.30 M in assets under management (AUM), while ZTAX manages $5.08 M.
What sectors do the FTRB and ZTAX ETFs invest in?
FTRB leans toward sectors like Sovereign, Non-Corporate and Finance. Meanwhile, ZTAX focuses on Municipal.
What are the top holdings of the FTRB ETF and ZTAX ETF?
FTRB top holdings include Federated Mortgage Core Portfolio, Federated Hermes Project & Trade Finance Tender Fund and USA, Bonds 5% 15may2056, 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: FTRB or ZTAX?
FTRB holds 14190 securities with 58.84% 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 FTRB & ZTAX
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