ZTAXvsIBGMETF Comparison
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X-Square Municipal Income Tax Free ETF (ZTAX) belongs to the Municipal Bonds segment. iShares iBonds Dec 2056 Term Treasury ETF (IBGM) is part of the US Government Bonds segment. ZTAX's top 2 sector exposures are Municipal and Non-Corporate. In contrast, IBGM's top sector exposures are Sovereign and Non-Corporate. ZTAX is more expensive with a Total Expense Ratio (TER) of 5.82%, versus 0.07% for IBGM. Run a side-by-side ETF comparison of ZTAX and IBGM 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 IBGM 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 IBGM | -0.47%-0.69% | -4.03%-3.80% | -1.26%n/a | -0.13%n/a | +14.91%n/a | n/an/a |
| Flows | ZTAX IBGM | +$590K- | -$1M+$39M | +$1M- | +$1M- | +$3M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ZTAX IBGM | +7.53%+10.04% | +5.26%n/a | +5.55%n/a | n/an/a |
| Max drawdown | ZTAX IBGM | -6.46%-7.50% | -6.98%n/a | -8.75%n/a | n/an/a |
| Max drawdown duration | ZTAX IBGM | 66d89d | 109dn/a | 316dn/a | n/an/a |
Trading data
ZTAX | IBGM | |
Last sale 10/16/2026 at 1:30 PM | $23.80 | $23.12 |
| Previous close 10/15/2026 | $23.93 | $23.12 |
| 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 | IBGM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
ZTAX | IBGM | |
|---|---|---|
| Last price | $23.80 | $23.12 |
| 1D performance | -0.52% | +0.00% |
| AuM | $5.52 M | $41.61 M |
| E/R | 5.82% | 0.07% |
Characteristics
ZTAX | IBGM | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | X-Square Capital | iShares |
| Benchmark | - | ICE 2056 Maturity US Treasury Index |
| N° of holdings | 13 | 4 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 19, 2023 | March 25, 2026 |
| ESG | No | No |
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Exposure
Countries
ZTAX
USA
83.13%
Other
16.87%
IBGM
USA
85.38%
Other
14.62%
Sectors
ZTAX
Municipal
82.8%
Other
17.2%
IBGM
Sovereign
84.14%
Other
15.86%
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Diversification
ZTAX
Total weight of top 15 holdings out of 15
99.39%
IBGM
Total weight of top 4 holdings out of 4
100.85%
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%
IBGM
USA, Bonds 5% 15may2056, USD
43.16%
USA, Bonds 4.75% 15feb2056, USD
40.98%
US912810UW61
15.48%
BlackRock Cash Funds - Treasury
1.24%
Frequently asked questions about ZTAX and IBGM
Which ETF is bigger: ZTAX or IBGM?
As of October 15, 2026, ZTAX holds $5.52 M in assets under management (AUM), while IBGM manages $41.61 M.
What sectors do the ZTAX and IBGM ETFs invest in?
ZTAX leans toward sectors like Municipal. Meanwhile, IBGM focuses on Sovereign.
What are the top holdings of the ZTAX ETF and IBGM 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. IBGM holds in its top three: USA, Bonds 5% 15may2056, USD, USA, Bonds 4.75% 15feb2056, USD and US912810UW61.
Which ETF is more diversified: ZTAX or IBGM?
ZTAX holds 16 securities with 99.39% of its assets in the top 15. IBGM has 4 securities.
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Latest news about ZTAX & IBGM
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