SMTHvsZTAXETF Comparison
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ALPS Smith Core Plus Bond ETF (SMTH) belongs to the US Aggregate Bonds segment. X-Square Municipal Income Tax Free ETF (ZTAX) is part of the Municipal Bonds segment. SMTH's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, ZTAX's top sector exposures are Municipal and Non-Corporate. SMTH is less expensive with a Total Expense Ratio (TER) of 0.59%, versus 5.82% for ZTAX. SMTH is down -0.37% year-to-date (YTD) with +$754M in YTD flows. ZTAX performs better with 1.78% YTD performance, and +$686K in YTD flows. Run a side-by-side ETF comparison of SMTH 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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SMTH 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. | SMTH ZTAX | -0.06%+0.08% | -0.86%-0.67% | -0.37%+1.78% | +1.87%+6.70% | n/a+14.12% | n/an/a |
| Flows | SMTH ZTAX | +$59M- | +$327M+$689K | +$754M+$686K | +$1.08B+$686K | -+$1M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMTH ZTAX | +3.66%+3.79% | +3.55%+4.29% | n/a+5.33% | n/an/a |
| Max drawdown | SMTH ZTAX | -1.69%-2.17% | -2.62%-2.17% | n/a-8.75% | n/an/a |
| Max drawdown duration | SMTH ZTAX | 64d64d | 184d64d | n/a316d | n/an/a |
Trading data
SMTH | ZTAX | |
Last sale 9/1/2026 at 1:30 PM | $25.22 | $25.37 |
| Previous close 09/01/2026 | $25.30 | $25.10 |
| 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 9/1/2026 at 1:30 PM
Live
Closed
SMTH | ZTAX | |
|---|---|---|
| Last price | $25.22 | $25.37 |
| 1D performance | -0.30% | +1.08% |
| AuM | $3.02 B | $5.08 M |
| E/R | 0.59% | 5.82% |
Characteristics
SMTH | ZTAX | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | ALPS | X-Square Capital |
| Benchmark | - | - |
| N° of holdings | 284 | 13 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 5, 2023 | May 19, 2023 |
| ESG | No | No |
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Exposure
Countries
SMTH
USA
84.58%
Other
15.42%
ZTAX
USA
83.31%
Other
16.69%
Sectors
SMTH
Sovereign
44.79%
Finance
14.65%
Industrials
8.41%
Other
32.15%
ZTAX
Municipal
82.95%
Other
17.05%
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Diversification
SMTH
Total weight of top 15 holdings out of 15
42.54%
ZTAX
Total weight of top 15 holdings out of 15
99.67%
Top 15 holdings
Data as of July 31, 2026
SMTH
USA, Notes 4.375% 15may2036, USD (C-2036)
6.27%
USA, Notes 3.375% 29feb2028, USD (AY-2028)
5.11%
USA, Notes 4.125% 31oct2029, USD (AF-2029)
3.96%
USA, Notes 4% 31may2028, USD (BC-2028)
3.76%
USA, Bonds 4.625% 15nov2045, USD
3.64%
USA, Notes 4.25% 31jan2030, USD (U-2030)
3.47%
USA, Bonds 4.625% 15nov2055, USD
3.31%
USA, Bonds 4.75% 15aug2055, USD
2.63%
USA, Bonds 4.75% 15feb2056, USD
2.50%
USA, Bonds 4.875% 15aug2045, USD
2.26%
USA, Bonds 5% 15may2056, USD
1.62%
USA, Notes 3.625% 31aug2027, USD (BG-2027)
1.26%
USA, Notes 3.5% 31oct2027, USD (BJ-2027)
1.25%
Boeing, 7.008% 1may2064, USD
0.82%
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.67%
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 SMTH and ZTAX
How have the SMTH and ZTAX ETFs performed in 2026?
As of September 1, 2026, SMTH is down -0.37% 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: SMTH or ZTAX?
Year-to-date, the SMTH ETF saw +$754M in flows, compared to +$686K for ZTAX.
Which ETF is more volatile: SMTH or ZTAX?
Over the past year, SMTH had a volatility of 3.55%, while ZTAX experienced 4.29%.
Which ETF is bigger: SMTH or ZTAX?
As of September 1, 2026, SMTH holds $3.02 B in assets under management (AUM), while ZTAX manages $5.08 M.
What sectors do the SMTH and ZTAX ETFs invest in?
SMTH leans toward sectors like Sovereign, Finance and Industrials. Meanwhile, ZTAX focuses on Municipal.
What are the top holdings of the SMTH ETF and ZTAX ETF?
SMTH top holdings include USA, Notes 4.375% 15may2036, USD (C-2036), USA, Notes 3.375% 29feb2028, USD (AY-2028) and USA, Notes 4.125% 31oct2029, USD (AF-2029). 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: SMTH or ZTAX?
SMTH holds 952 securities with 42.54% 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 SMTH & ZTAX
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