Skip to Content
Morningstar

X-Square Municipal Income Tax Free ETF ZTAX

Morningstar Medalist Rating
Medalist Rating as of | See Xsquare Capital Investment Hub

Morningstar’s Analysis ZTAX

Will ZTAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ZTAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the ZTAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of ZTAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in X-Square Municipal Income Tax Free ETF's Process and People Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

by Morningstar Manager Research
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings ZTAX

More ZTAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 98.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.784%

30.85 1.0 Mil
municipal

PUERTO RICO COMWLTH 4%

15.60 530,441
municipal

PUERTO RICO COMWLTH 5.625%

10.37 352,586
municipal

PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%

8.35 284,123
municipal

PUERTO RICO COMWLTH 5.75%

8.24 280,272
municipal

PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%

7.74 263,144
municipal

PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%

7.67 260,911
municipal

MATCHING FD SPL PURP SECURITIZATION CORP VIRGIN IS 5%

7.38 250,860
municipal

GUAM GOVT BUSINESS PRIVILEGE TAX REV 4%

2.63 89,617
municipal

BlackRock Liquidity MuniCash Instl

0.87 29,720
Cash and Equivalents