SPCZ vs ZTAX
Comparison between RIVERNORTH ENHANCED PRE-MERGER SPAC ETF (SPCZ, ETF) and X-Square Municipal Income Tax Free ETF (ZTAX, ETF).
SPCZ vs ZTAX - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
SPCZ
$7.10M
Winner
ZTAX
$7.20M
Expense Ratio
Winner
SPCZ
0.59%
ZTAX
0.92%
Max Drawdown
Winner
SPCZ
12.35%
ZTAX
19.10%
Sharpe Ratio
SPCZ
0.10
Winner
ZTAX
0.20
5Y Beta
SPCZ
-0.00
Winner
ZTAX
-0.14
P/E Ratio
SPCZ
59.88
ZTAX
N/A
Debt to Equity
SPCZ
-0.08%
ZTAX
N/A
P/B Ratio
SPCZ
1.37
ZTAX
N/A
SPCZ vs ZTAX - Historical Returns
Returns include dividend reinvestment.
1M
SPCZ
-0.04%
Winner
ZTAX
+1.93%
3M
SPCZ
+0.98%
Winner
ZTAX
+3.44%
6M
SPCZ
+1.27%
Winner
ZTAX
+2.03%
1Y
SPCZ
+4.00%
Winner
ZTAX
+8.15%
5Y(CAGR)
SPCZ
+6.27%
ZTAX
N/A
Max(CAGR)
Winner
SPCZ
+6.27%
ZTAX
+6.10%
SPCZ vs ZTAX - Annual Returns (2022 - 2026)
Returns include dividend reinvestment.
| Year | SPCZ | ZTAX |
|---|---|---|
| 2026 | +2.04% | +1.26% |
| 2025 | +10.31% | -1.04% |
| 2024 | +5.42% | +6.88% |
| 2023 | +6.01% | +9.11% |
| 2022 | +1.95% | N/A |
SPCZ vs ZTAX Drawdown Comparison
The maximum drawdown for SPCZ was -4.47%, occurring on Sep 3, 2024. Recovery took 34 trading sessions.
The maximum drawdown for ZTAX was -15.33%, occurring on Apr 10, 2025. Recovery took 493 trading sessions.
The current SPCZ drawdown is -3.36%. The current ZTAX drawdown is -9.01%.
| Rank | SPCZ | ZTAX |
|---|---|---|
| #1 | -4.47% Aug 7, 2024 - Sep 25, 2024 | -15.33% Jun 21, 2024 - Jun 10, 2026 |
| #2 | -3.82% Apr 29, 2026 - Jun 10, 2026 | -11.90% Jul 25, 2023 - Mar 13, 2024 |
| #3 | -3.51% Jun 10, 2026 - Jun 15, 2026 | -11.26% Jun 16, 2026 - Jul 10, 2026 |
| #4 | -3.50% Jun 16, 2025 - Jul 23, 2025 | -9.50% Jun 10, 2026 - Jun 16, 2026 |
| #5 | -2.86% Dec 29, 2025 - Apr 29, 2026 | -8.04% May 25, 2023 - Jun 8, 2023 |
| #6 | -1.34% Oct 18, 2024 - Dec 23, 2024 | -7.38% Jun 17, 2024 - Jun 21, 2024 |
| #7 | -1.21% Oct 15, 2025 - Dec 29, 2025 | -6.42% Jun 21, 2023 - Jul 24, 2023 |
| #8 | -1.11% Dec 13, 2023 - Jan 4, 2024 | -5.83% Apr 24, 2024 - Jun 11, 2024 |
| #9 | -1.00% Jul 25, 2025 - Aug 19, 2025 | -4.44% Apr 15, 2024 - Apr 24, 2024 |
| #10 | -0.94% Oct 23, 2023 - Nov 2, 2023 | -4.41% Jun 8, 2023 - Jun 21, 2023 |
| #11 | -0.88% Jan 4, 2024 - Feb 9, 2024 | -3.88% Jun 11, 2024 - Jun 17, 2024 |
| #12 | -0.87% Feb 13, 2023 - Mar 30, 2023 | -2.10% Mar 22, 2024 - Mar 28, 2024 |
| #13 | -0.87% Oct 3, 2024 - Oct 18, 2024 | -1.76% Mar 28, 2024 - Apr 8, 2024 |
| #14 | -0.83% Jun 11, 2025 - Jun 16, 2025 | -1.30% Apr 8, 2024 - Apr 15, 2024 |
| #15 | -0.79% Jul 14, 2022 - Oct 19, 2022 | -0.54% May 22, 2023 - May 24, 2023 |
Correlation
Correlation between SPCZ and ZTAX is 0.69 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.69
-101
Dividend Comparison (2022 - 2026)
SPCZ vs ZTAX dividend yield comparison.
| Year | SPCZ | ZTAX |
|---|---|---|
| 2026 | 0.00% | 4.38% |
| 2025 | 12.06% | 4.58% |
| 2024 | 4.24% | 4.55% |
| 2023 | 5.01% | 2.14% |
| 2022 | 0.22% | 0.00% |
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