ZTAXvsBABETF Comparison
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X-Square Municipal Income Tax Free ETF (ZTAX) and Invesco Taxable Municipal Bond ETF (BAB) belong to the same industry segment: Municipal Bonds. ZTAX's top 2 sector exposures are Municipal and Non-Corporate. In contrast, BAB's top sector exposures are Municipal and Industrials. ZTAX is more expensive with a Total Expense Ratio (TER) of 5.82%, versus 0.28% for BAB. ZTAX is down -1.26% year-to-date (YTD) with +$1M in YTD flows. BAB performs worse with -4.48% YTD performance, and -$114M in YTD flows. Run a side-by-side ETF comparison of ZTAX and BAB 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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ZTAX vs BAB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ZTAX BAB | -0.47%-0.56% | -4.03%-3.31% | -1.26%-4.48% | -0.13%-5.12% | +14.91%+13.23% | n/a-8.45% |
| Flows | ZTAX BAB | +$590K+$10M | -$1M-$136M | +$1M-$114M | +$1M-$18M | +$3M-$657M | --$977M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ZTAX BAB | +7.53%+5.48% | +5.26%+4.86% | +5.55%+6.38% | n/a+7.57% |
| Max drawdown | ZTAX BAB | -6.46%-5.10% | -6.98%-8.22% | -8.75%-8.22% | n/a-24.57% |
| Max drawdown duration | ZTAX BAB | 66d89d | 109d229d | 316d229d | n/a1776d |
Trading data
ZTAX | BAB | |
Last sale 10/16/2026 at 1:30 PM | $23.80 | $25.69 |
| Previous close 10/15/2026 | $23.93 | $25.77 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 18, 2026
1-year trailing difference
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ZTAX
is actively managed and doesn’t replicate an indexZTAX | BAB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
ZTAX | BAB | |
|---|---|---|
| Last price | $23.80 | $25.69 |
| 1D performance | -0.52% | -0.31% |
| AuM | $5.52 M | $862.29 M |
| E/R | 5.82% | 0.28% |
Characteristics
ZTAX | BAB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | X-Square Capital | Invesco |
| Benchmark | - | ICE BofA US Taxable Municipal Securities Plus Index |
| N° of holdings | 13 | 1337 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 19, 2023 | November 17, 2009 |
| ESG | No | No |
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Exposure
Countries
ZTAX
USA
83.13%
Other
16.87%
BAB
USA
87.36%
Other
12.64%
Sectors
ZTAX
Municipal
82.8%
Other
17.2%
BAB
Municipal
87.34%
Other
12.66%
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Diversification
ZTAX
Total weight of top 15 holdings out of 15
99.39%
BAB
Total weight of top 15 holdings out of 15
11.34%
Top 15 holdings
Data as of August 31, 2026
ZTAX
Puerto Rico Sales Tax Financing Corp., 5% 1jul2058, USD
19.11%
Puerto Rico Sales Tax Financing Corp., 4.784% 1jul2058, USD
16.27%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
8.67%
Matching Fund Special Purpose Securitization Corp., 5% 1oct2039, USD (2022A)
8.55%
Puerto Rico, 4% 1jul2037, USD
8.04%
Puerto Rico, 5.75% 1jul2031, USD
5.70%
Puerto Rico Aqueduct and Sewer Authority, 5% 1jul2047, USD (2020A)
5.54%
US745160UD15
5.14%
US745160TP63
5.08%
US745160TT85
4.63%
Puerto Rico, 4% 1jul2035, USD
4.29%
Puerto Rico, 5.625% 1jul2027, USD
3.57%
Puerto Rico, 4% 1jul2041, USD
2.20%
US40065NCQ88
1.74%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
0.86%
BAB
Illinois, 5.1% 1jun2033, USD
1.61%
California, 7.55% 1apr2039, USD
1.30%
California, 7.5% 1apr2034, USD
0.96%
California, 7.6% 1nov2040, USD
0.95%
California, 7.3% 1oct2039, USD
0.78%
New Jersey Turnpike Authority, 7.102% 1jan2041, USD (2010A)
0.76%
Texas Natural Gas Securitization Finance, 5.169% 1apr2041, USD
0.68%
New Jersey Economic Development Authority, 7.425% 15feb2029, USD
0.60%
California, 7.625% 1mar2040, USD (2010)
0.59%
Connecticut, 5.85% 15mar2032, USD
0.58%
New Jersey Turnpike Authority, 7.414% 1jan2040, USD
0.56%
Louisiana Local Government Environmental Facilities and Community Development Authority, 4.475% 1aug2039, USD (2022A, ABS)
0.52%
Chicago, 6.207% 1jan2032, USD (2009B)
0.52%
California, 7.35% 1nov2039, USD (2009)
0.47%
New York Transitional Finance Authority, 1.97% 1feb2033, USD (2021)
0.47%
Frequently asked questions about ZTAX and BAB
How have the ZTAX and BAB ETFs performed in 2026?
As of October 15, 2026, ZTAX is down -1.26% year-to-date (YTD), while BAB has lost -4.48%. That puts ZTAX better performer ahead so far this year.
Which ETF is attracting more investor money: ZTAX or BAB?
Year-to-date, the ZTAX ETF saw +$1M in flows, compared to -$114M for BAB.
Which ETF is more volatile: ZTAX or BAB?
Over the past year, ZTAX had a volatility of 5.26%, while BAB experienced 4.86%.
Which ETF is bigger: ZTAX or BAB?
As of October 15, 2026, ZTAX holds $5.52 M in assets under management (AUM), while BAB manages $862.29 M.
What sectors do the ZTAX and BAB ETFs invest in?
ZTAX leans toward sectors like Municipal. Meanwhile, BAB focuses on Municipal.
What are the top holdings of the ZTAX ETF and BAB ETF?
ZTAX top holdings include 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. BAB holds in its top three: Illinois, 5.1% 1jun2033, USD, California, 7.55% 1apr2039, USD and California, 7.5% 1apr2034, USD.
Which ETF is more diversified: ZTAX or BAB?
ZTAX holds 16 securities with 99.39% of its assets in the top 15. BAB has 1971 securities and a top 15 weight of 11.34%.
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Latest news about ZTAX & BAB
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