ZTAXvsSYSBETF Comparison
VS
ETF 2
SYSB
iShares Edge U.S. Fixed Income Balanced Risk ETF
This fund is part of
US Aggregate Bonds
-0.07%
X-Square Municipal Income Tax Free ETF (ZTAX) belongs to the Municipal Bonds segment. iShares Edge U.S. Fixed Income Balanced Risk ETF (SYSB) is part of the US Aggregate Bonds segment. ZTAX's top 2 sector exposures are Municipal and Non-Corporate. In contrast, SYSB's top sector exposures are Sovereign, Finance and Non-Corporate. ZTAX is more expensive with a Total Expense Ratio (TER) of 5.82%, versus 0.25% for SYSB. ZTAX is up 2.11% year-to-date (YTD) with +$686K in YTD flows. SYSB performs worse with -0.13% YTD performance, and +$529M in YTD flows. Run a side-by-side ETF comparison of ZTAX and SYSB 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 SYSB 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 SYSB | -0.16%+0.53% | -0.23%-0.50% | +2.11%-0.13% | +6.82%+2.41% | +15.45%+20.12% | n/a+6.29% |
| Flows | ZTAX SYSB | -+$31M | +$689K+$149M | +$686K+$529M | +$686K+$1.14B | +$1M+$1.16B | -+$1.12B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ZTAX SYSB | +3.72%+4.06% | +4.27%+3.87% | +5.33%+3.50% | n/a+4.72% |
| Max drawdown | ZTAX SYSB | -2.17%-1.77% | -2.17%-2.98% | -8.75%-2.98% | n/a-18.34% |
| Max drawdown duration | ZTAX SYSB | 61d63d | 61d183d | 316d183d | n/a1323d |
Trading data
ZTAX | SYSB | |
Last sale 9/1/2026 at 1:30 PM | $25.37 | |
| Previous close 08/31/2026 | $25.10 | |
| 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 August 31, 2026
1-year trailing difference
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ZTAX
is actively managed and doesn’t replicate an indexZTAX | SYSB | |
|---|---|---|
| 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 | SYSB | |
|---|---|---|
| Last price | $25.37 | – |
| 1D performance | +1.08% | – |
| AuM | $5.09 M | $1.20 B |
| E/R | 5.82% | 0.25% |
Characteristics
ZTAX | SYSB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | X-Square Capital | iShares |
| Benchmark | - | BlackRock Universal Systematic Bond Index |
| N° of holdings | 13 | 760 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 19, 2023 | February 24, 2015 |
| ESG | No | No |
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Exposure
Countries
ZTAX
USA
83.31%
Other
16.69%
SYSB
USA
87.3%
Other
12.7%
Sectors
ZTAX
Municipal
82.95%
Other
17.05%
SYSB
Sovereign
31.42%
Finance
15.85%
Non-Corporate
8.48%
Other
44.25%
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Diversification
ZTAX
Total weight of top 15 holdings out of 15
99.67%
SYSB
Total weight of top 15 holdings out of 15
35.12%
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%
SYSB
BlackRock Cash Funds - Institutional
8.47%
USA, Bonds 1.125% 15aug2040, USD
3.21%
USA, Bonds 2.75% 15aug2047, USD
3.15%
USA, Notes 4.25% 15may2035, USD (C-2035)
2.36%
USA, Notes 4.25% 15aug2035, USD (E-2035)
2.21%
USA, Notes 4.25% 31may2033, USD (L-2033)
2.12%
USA, Bonds 3% 15aug2052, USD
1.72%
USA, Bonds 2.25% 15feb2052, USD
1.70%
USA, Notes 3.375% 15may2033, USD (C-2033)
1.61%
USA, Bonds 1.875% 15nov2051, USD
1.56%
USA, Bonds 2.25% 15aug2046, USD
1.55%
USA, Bonds 1.75% 15aug2041, USD
1.48%
USA, Bonds 3% 15nov2044, USD
1.37%
USA, Notes 3.5% 28feb2031, USD (V-2031)
1.31%
USA, Bonds 2% 15aug2051, USD
1.29%
Frequently asked questions about ZTAX and SYSB
How have the ZTAX and SYSB ETFs performed in 2026?
As of August 28, 2026, ZTAX is up 2.11% year-to-date (YTD), while SYSB has lost -0.13%. That puts ZTAX better performer ahead so far this year.
Which ETF is attracting more investor money: ZTAX or SYSB?
Year-to-date, the ZTAX ETF saw +$686K in flows, compared to +$529M for SYSB.
Which ETF is more volatile: ZTAX or SYSB?
Over the past year, ZTAX had a volatility of 4.27%, while SYSB experienced 3.87%.
Which ETF is bigger: ZTAX or SYSB?
As of August 28, 2026, ZTAX holds $5.09 M in assets under management (AUM), while SYSB manages $1.20 B.
What sectors do the ZTAX and SYSB ETFs invest in?
ZTAX leans toward sectors like Municipal. Meanwhile, SYSB focuses on Sovereign, Finance and Non-Corporate.
What are the top holdings of the ZTAX ETF and SYSB 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. SYSB holds in its top three: BlackRock Cash Funds - Institutional, USA, Bonds 1.125% 15aug2040, USD and USA, Bonds 2.75% 15aug2047, USD.
Which ETF is more diversified: ZTAX or SYSB?
ZTAX holds 16 securities with 99.67% of its assets in the top 15. SYSB has 836 securities and a top 15 weight of 35.12%.
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Latest news about ZTAX & SYSB
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