X-Square Municipal Income ETF
ZTAX
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Centro Internacional de Mercadeo II, 90 Carr 165, Suite 803 Guaynabo PR United States of America 968
- IPO Date
- May 19, 2023
- Website
- x2etfs.com
- Similar Companies
- Business
- X-Square Series Trust is a Delaware statutory trust that operates as an open-end management investment company, offering exchange-traded funds focused on tax-exempt fixed income securities. Its primary offering is the X-Square Municipal Income ETF (ticker: ZTAX), an actively managed, non-diversified ETF that seeks to provide income exempt from federal income tax by investing at least 80% of its net assets in U.S. dollar-denominated tax-exempt municipal securities issued by Puerto Rico, Guam, and the U.S. Virgin Islands; these securities may span any maturity, duration, or credit quality, including high-yield or below-investment-grade bonds, with expected allocations primarily to Puerto Rico (65-80%), the U.S. Virgin Islands (10-25%), and Guam (5-10%). The Trust, advised by X-Square Capital, a minority-owned registered investment adviser based in Guaynabo, Puerto Rico, targets investors seeking triple tax-exempt income (federal, state, and local) from U.S. territories' municipal debt, serving individual and institutional clients in the municipal bond segment of the fixed income market. Established in 2021, the Trust is headquartered at c/o The Corporation Trust Company, 1209 Orange Street, Wilmington, Delaware, with investment advisory services provided from X-Square Capital's offices in Puerto Rico and Denver, Colorado; it lists its ETF on NYSE Arca and distributes shares through ALPS Distributors, Inc., with State Street Bank and Trust Co. serving as custodian in Boston, Massachusetts. In a significant recent development, effective May 28, 2024, the fund changed its name from X-Square Municipal Income Tax Free ETF to X-Square Municipal Income ETF while retaining the ZTAX ticker and investment strategy, reflecting a streamlined branding aligned with its core focus on tax-exempt municipal income. No major acquisitions, funding rounds, partnerships, or new product launches have been reported for the Trust or its ETF in the last 1-2 years; the fund continues to emphasize active management based on issuer fundamentals, revenue quality, and relative value opportunities amid ongoing municipal market dynamics in U.S. territories.