VXUS vs ZTAX
Vanguard Total International Stock ETF vs X-Square Municipal Income Tax Free ETF
Which is better, VXUS or ZTAX?
Large Cap Blend against Municipal Bond.
VXUS has a lower expense ratio. VXUS led over 1Y, 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | VXUS | ZTAX |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.92% |
| AUM | $164.9B | $5M |
| Dividend Yield | 2.51% | 4.72% |
| Holdings | 8,844 | 33 |
| YTD Return | +12.44%Best | -3.95% |
| 1Y Return | +18.26%Best | +1.89% |
| 3Y Return (annualized) | +21.40%Best | +3.99% |
| 5Y Return (annualized) | +9.67% | - |
| Volatility (annualized) | 12.2% | 8.2%Best |
| Max Drawdown | -13.6%Best | -15.3% |
| $10,000 over 3.4 years | $16,970Best | $11,479 |
| Fund Family | Vanguard (US) | X-Square Capital |
| Category | Equity | Tax Preferred |
| Style | Large Cap Blend | Municipal Bond |
| Inception | Jan 26, 2011 | May 17, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: May 19, 2023 to Oct 2, 2026 (3.4 years).
VXUS vs ZTAX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.4 years both funds cover.
VXUS vs ZTAX Performance
Vanguard Total International Stock ETF (VXUS) is an ETF from Vanguard (US) and X-Square Municipal Income Tax Free ETF (ZTAX) is an ETF from X-Square Capital. Over the past year VXUS returned +18.26% while ZTAX returned +1.89%. Year to date, VXUS is up 12.44% versus a loss of 3.95% for ZTAX.
Over three years, VXUS compounded at +21.40% per year against +3.99% for ZTAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VXUS has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 8.2% for ZTAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.6% for VXUS and -15.3% for ZTAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.16. They move largely independently of each other.
Fees and Cost Over Time
VXUS charges 0.05% per year while ZTAX charges 0.92%. On a $10,000 position that is $5 vs $92 annually, a gap of $87 per year that compounds over a long holding period. On income, VXUS currently yields 2.51% against 4.72% for ZTAX.
Holdings Overlap
We hold position weights for 8,082 holdings in VXUS and 11 in ZTAX, totalling 89.3% and 82.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 46 days apart, VXUS as of Jul 31, 2026 and ZTAX as of Sep 15, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 8,082 positions we hold weights for in VXUS and 11 in ZTAX, against full books of 8,844 and 33.
You are not choosing between two funds in isolation.
Whichever of VXUS and ZTAX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VXUS or ZTAX?
VXUS has an expense ratio of 0.05% while ZTAX charges 0.92%. VXUS is the cheaper option, by $87 a year on a $10,000 investment.
Which performed better, VXUS or ZTAX?
Over the past year VXUS returned +18.26% vs +1.89% for ZTAX, so VXUS leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VXUS or ZTAX?
VXUS has been the more volatile fund at 12.2% annualized versus 8.2% for ZTAX. Worst drawdown: VXUS -13.6% vs ZTAX -15.3%.
Should I hold both VXUS and ZTAX?
VXUS and ZTAX have a monthly-return correlation of 0.16, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, VXUS or ZTAX?
VXUS yields 2.51% while ZTAX yields 4.72%, so ZTAX currently pays the higher dividend yield.
Is ZTAX better than VXUS?
VXUS has a lower expense ratio. VXUS led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.