SCHZvsZTAXETF Comparison
VS
Schwab U.S. Aggregate Bond ETF (SCHZ) belongs to the US Aggregate Bonds segment. X-Square Municipal Income Tax Free ETF (ZTAX) is part of the Municipal Bonds segment. SCHZ's top 3 sector exposures are Sovereign, Industrials and Government Agencies. In contrast, ZTAX's top sector exposures are Municipal and Non-Corporate. SCHZ is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 5.82% for ZTAX. SCHZ is down -1.35% year-to-date (YTD) with +$1.54B in YTD flows. ZTAX performs better with 0.39% YTD performance, and +$686K in YTD flows. Run a side-by-side ETF comparison of SCHZ 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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SCHZ vs ZTAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SCHZ ZTAX | -1.11%-1.45% | -1.97%-2.64% | -1.35%+0.39% | -0.46%+1.70% | +12.40%+12.83% | -2.93%n/a |
| Flows | SCHZ ZTAX | +$181M- | +$383M+$689K | +$1.54B+$686K | +$2.06B+$686K | +$3.69B+$1M | +$2.99B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SCHZ ZTAX | +3.98%+5.22% | +3.69%+4.45% | +5.08%+5.42% | +5.96%n/a |
| Max drawdown | SCHZ ZTAX | -2.58%-4.34% | -3.28%-4.34% | -4.88%-8.75% | -17.77%n/a |
| Max drawdown duration | SCHZ ZTAX | 81d82d | 201d82d | 284d316d | 1618dn/a |
Trading data
SCHZ | ZTAX | |
Last sale 9/21/2026 at 1:30 PM | $22.48 | $24.93 |
| Previous close 09/18/2026 | $22.42 | $24.89 |
| Consolidated volume 09/18/2026 | ||
| 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
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ZTAX
is actively managed and doesn’t replicate an indexSCHZ | 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 9/21/2026 at 1:30 PM
Live
Closed
SCHZ | ZTAX | |
|---|---|---|
| Last price | $22.48 | $24.93 |
| 1D performance | +0.27% | +0.15% |
| AuM | $10.61 B | $5.01 M |
| E/R | 0.03% | 5.82% |
Characteristics
SCHZ | ZTAX | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Schwab ETFs | X-Square Capital |
| Benchmark | Bloomberg US Aggregate Bond Index | - |
| N° of holdings | 580 | 13 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 14, 2011 | May 19, 2023 |
| ESG | No | No |
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Exposure
Countries
SCHZ
USA
84.04%
Other
15.96%
ZTAX
USA
83.31%
Other
16.69%
Sectors
SCHZ
Sovereign
72.98%
Industrials
10.26%
Other
16.77%
ZTAX
Municipal
82.95%
Other
17.05%
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Diversification
SCHZ
Total weight of top 15 holdings out of 15
8.86%
ZTAX
Total weight of top 15 holdings out of 15
99.67%
Top 15 holdings
Data as of July 31, 2026
SCHZ
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.64%
USA, Notes 4.625% 15feb2035, USD (B-2035)
0.63%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.63%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.62%
USA, Notes 4.25% 15may2035, USD (C-2035)
0.62%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.62%
USA, Notes 4% 15feb2034, USD (B-2034)
0.61%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.60%
USA, Notes 4% 15nov2035, USD (F-2035)
0.60%
USA, Notes 4.5% 15nov2033, USD (F-2033)
0.59%
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.59%
USA, Notes 4.375% 15may2036, USD (C-2036)
0.55%
USA, Notes 3.875% 15aug2033, USD (E-2033)
0.54%
USA, Notes 4% 28feb2030, USD (H-2030)
0.51%
USA, Notes 4.125% 15nov2032, USD (F-2032)
0.51%
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 SCHZ and ZTAX
How have the SCHZ and ZTAX ETFs performed in 2026?
As of September 18, 2026, SCHZ is down -1.35% year-to-date (YTD), while ZTAX has returned 0.39%. That puts ZTAX better performer ahead so far this year.
Which ETF is attracting more investor money: SCHZ or ZTAX?
Year-to-date, the SCHZ ETF saw +$1.54B in flows, compared to +$686K for ZTAX.
Which ETF is more volatile: SCHZ or ZTAX?
Over the past year, SCHZ had a volatility of 3.69%, while ZTAX experienced 4.45%.
Which ETF is bigger: SCHZ or ZTAX?
As of September 18, 2026, SCHZ holds $10.61 B in assets under management (AUM), while ZTAX manages $5.01 M.
What sectors do the SCHZ and ZTAX ETFs invest in?
SCHZ leans toward sectors like Sovereign and Industrials. Meanwhile, ZTAX focuses on Municipal.
What are the top holdings of the SCHZ ETF and ZTAX ETF?
SCHZ top holdings include USA, Notes 4.125% 15feb2036, USD (B-2036), USA, Notes 4.625% 15feb2035, USD (B-2035) and USA, Notes 4.375% 15may2034, USD (C-2034). 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: SCHZ or ZTAX?
SCHZ holds 1448 securities with 8.86% 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 SCHZ & ZTAX
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