Performance analysis of ZTAX (X-Square Municipal Income Tax Free ETF)
Annual Return
Over the past 3 years, ZTAX has had an average annual return of +4.65%, underperforming the benchmark SPY, which returned +19.62% annual.
Since May 19, 2023, ZTAX has had an average annual return of +5.55%, underperforming the benchmark SPY, which returned +21.63% annual.
| 2026 | 2025 | 2024 | 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| +1.83% | -1.04% | +7.96% | +9.11% |
Monthly Return
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annually Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0% | -0.14% | +1% | +1.82% | -2.47% | +4.13% | -2.36% | +1.83% | |||||
| 2025 | -0.33% | -2.95% | -2.07% | -3.74% | +1.15% | +2.97% | +0.03% | +0.63% | -0.23% | +6.33% | -3.11% | +0.71% | -1.04% |
| 2024 | -0.58% | +1.64% | +4.56% | -3.31% | +0.99% | -0.41% | +2.46% | -2.19% | +2.05% | +4.68% | -3.22% | +1.42% | +7.96% |
| 2023 | +2.98% | +1.58% | -0.13% | -0.79% | -0.18% | +0.16% | +3.06% | +2.17% | +9.11% |
Drawdown analysis of ZTAX (X-Square Municipal Income Tax Free ETF)
The maximum drawdown for the ZTAX was -15.33%, occurring on Apr 10, 2025. Recovery took 292 trading sessions.
The current ZTAX drawdown is -10.55%.
Since May 19, 2023 ZTAX has experienced the following drawdowns:
- 10% or more: 3 times
| Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.33% | Jun 21, 2024 | 201 | Apr 10, 2025 | 292 | Jun 10, 2026 | 493 |
| -11.90% | Jul 25, 2023 | 59 | Oct 17, 2023 | 101 | Mar 13, 2024 | 160 |
| -11.27% | Jun 16, 2026 | 16 | Jul 10, 2026 | Ongoing | Ongoing | Ongoing |
| -9.50% | Jun 10, 2026 | 1 | Jun 11, 2026 | 3 | Jun 16, 2026 | 4 |
| -8.04% | May 25, 2023 | 1 | May 26, 2023 | 8 | Jun 8, 2023 | 9 |
| -7.37% | Jun 17, 2024 | 1 | Jun 18, 2024 | 2 | Jun 21, 2024 | 3 |
| -6.43% | Jun 21, 2023 | 15 | Jul 13, 2023 | 7 | Jul 24, 2023 | 22 |
| -5.83% | Apr 24, 2024 | 27 | Jun 3, 2024 | 6 | Jun 11, 2024 | 33 |
| -4.44% | Apr 15, 2024 | 3 | Apr 18, 2024 | 4 | Apr 24, 2024 | 7 |
| -4.41% | Jun 8, 2023 | 3 | Jun 13, 2023 | 5 | Jun 21, 2023 | 8 |
| -3.88% | Jun 11, 2024 | 3 | Jun 14, 2024 | 1 | Jun 17, 2024 | 4 |
| -2.09% | Mar 22, 2024 | 3 | Mar 27, 2024 | 1 | Mar 28, 2024 | 4 |
| -1.76% | Mar 28, 2024 | 5 | Apr 5, 2024 | 1 | Apr 8, 2024 | 6 |
| -1.30% | Apr 8, 2024 | 2 | Apr 10, 2024 | 3 | Apr 15, 2024 | 5 |
| -0.54% | May 22, 2023 | 1 | May 23, 2023 | 1 | May 24, 2023 | 2 |
| -0.02% | Mar 15, 2024 | 1 | Mar 18, 2024 | 1 | Mar 19, 2024 | 2 |