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 up 2.11% year-to-date (YTD) with +$686K in YTD flows. BAB performs worse with -2.5% YTD performance, and -$97M 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 08/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ZTAX BAB | -0.16%+0.16% | -0.23%-1.49% | +2.11%-2.50% | +6.82%+0.41% | +15.45%+10.97% | n/a-7.83% |
| Flows | ZTAX BAB | --$108M | +$689K-$147M | +$686K-$97M | +$686K+$14M | +$1M-$628M | --$960M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ZTAX BAB | +3.72%+4.78% | +4.27%+4.74% | +5.33%+6.51% | n/a+7.57% |
| Max drawdown | ZTAX BAB | -2.17%-2.71% | -2.17%-4.87% | -8.75%-6.06% | n/a-24.57% |
| Max drawdown duration | ZTAX BAB | 61d63d | 61d183d | 316d352d | n/a1730d |
Trading data
ZTAX | BAB | |
Last sale 9/1/2026 at 1:30 PM | $25.37 | $26.17 |
| Previous close 08/31/2026 | $25.10 | $26.29 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 2, 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 9/1/2026 at 1:30 PM
Live
Closed
ZTAX | BAB | |
|---|---|---|
| Last price | $25.37 | $26.17 |
| 1D performance | +1.08% | -0.46% |
| AuM | $5.09 M | $900.73 M |
| E/R | 5.82% | 0.28% |
Characteristics
ZTAX | BAB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | X-Square Capital | Invesco |
| Benchmark | - | ICE BofAML US Taxable Municipal Securities Plus Index |
| N° of holdings | 13 | 1315 |
| 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
83.31%
Other
16.69%
BAB
USA
88.17%
Other
11.83%
Sectors
ZTAX
Municipal
82.95%
Other
17.05%
BAB
Municipal
88.16%
Other
11.84%
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Diversification
ZTAX
Total weight of top 15 holdings out of 15
99.67%
BAB
Total weight of top 15 holdings out of 15
11.41%
Top 15 holdings
Data as of July 31, 2026
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%
BAB
Illinois, 5.1% 1jun2033, USD
1.43%
California, 7.55% 1apr2039, USD
1.30%
California, 7.6% 1nov2040, USD
0.87%
California, 7.5% 1apr2034, USD
0.85%
Illinois, 6.9% 1mar2035, USD (2010-2)
0.83%
California, 7.3% 1oct2039, USD
0.69%
New Jersey Turnpike Authority, 7.102% 1jan2041, USD (2010A)
0.67%
Texas Natural Gas Securitization Finance, 5.169% 1apr2041, USD
0.67%
California, 5.1% 1mar2029, USD
0.65%
California, 7.35% 1nov2039, USD (2009)
0.64%
Metro (OR), 3.25% 1jun2028, USD (2019)
0.61%
New Jersey Turnpike Authority, 7.414% 1jan2040, USD
0.57%
Massachusetts, 4.91% 1may2029, USD
0.56%
New Jersey Economic Development Authority, 7.425% 15feb2029, USD
0.55%
California, 7.625% 1mar2040, USD (2010)
0.52%
Frequently asked questions about ZTAX and BAB
How have the ZTAX and BAB ETFs performed in 2026?
As of August 28, 2026, ZTAX is up 2.11% year-to-date (YTD), while BAB has lost -2.5%. 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 +$686K in flows, compared to -$97M for BAB.
Which ETF is more volatile: ZTAX or BAB?
Over the past year, ZTAX had a volatility of 4.27%, while BAB experienced 4.74%.
Which ETF is bigger: ZTAX or BAB?
As of August 28, 2026, ZTAX holds $5.09 M in assets under management (AUM), while BAB manages $900.73 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, 7.6% 1nov2040, USD.
Which ETF is more diversified: ZTAX or BAB?
ZTAX holds 16 securities with 99.67% of its assets in the top 15. BAB has 1920 securities and a top 15 weight of 11.41%.
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Latest news about ZTAX & BAB
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