CGCPvsPZAETF Comparison
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Capital Group Core Plus Income ETF (CGCP) belongs to the Intl Aggregate Bonds segment. Invesco National AMT-Free Municipal Bond ETF (PZA) is part of the Municipal Bonds segment. CGCP's top 3 sector exposures are Sovereign, Non-Corporate and Finance. In contrast, PZA's top sector exposures are Municipal. CGCP is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.28% for PZA. CGCP is down -0.53% year-to-date (YTD) with +$2.53B in YTD flows. PZA performs worse with -3.18% YTD performance, and +$978M in YTD flows. Run a side-by-side ETF comparison of CGCP and PZA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CGCP vs PZA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CGCP PZA | +2.64%+4.29% | -0.72%-2.19% | -0.53%-3.18% | +0.15%-3.25% | +17.42%+8.36% | n/a-5.22% |
| Flows | CGCP PZA | +$170M-$114M | +$324M-$9M | +$2.53B+$978M | +$3.04B+$880M | +$7.79B+$1.85B | -+$2.10B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CGCP PZA | +4.61%+7.45% | +3.90%+4.85% | +4.61%+5.45% | n/a+5.48% |
| Max drawdown | CGCP PZA | -3.60%-8.18% | -4.58%-9.83% | -4.58%-9.83% | n/a-18.28% |
| Max drawdown duration | CGCP PZA | 71d83d | 248d248d | 248d248d | n/a1766d |
Trading data
CGCP | PZA | |
Last sale 11/5/2026 at 3:04 PM | $21.64 | $22.28 |
| Previous close 11/04/2026 | $21.64 | $22.26 |
| Consolidated volume 11/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of November 5, 2026
1-year trailing difference
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CGCP
is actively managed and doesn’t replicate an indexCGCP | PZA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/5/2026 at 3:04 PM
Live
Closed
CGCP | PZA | |
|---|---|---|
| Last price | $21.64 | $22.28 |
| 1D performance | -0.02% | +0.07% |
| AuM | $8.66 B | $4.10 B |
| E/R | 0.34% | 0.28% |
Characteristics
CGCP | PZA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Capital Group | Invesco |
| Benchmark | - | ICE BofA National Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 718 | 3412 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 22, 2022 | October 11, 2007 |
| ESG | No | No |
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Exposure
Countries
CGCP
USA
59.96%
Other
40.04%
PZA
USA
58.71%
Other
41.29%
Sectors
CGCP
Sovereign
18.23%
Non-Corporate
12.17%
Finance
11.25%
Other
58.35%
PZA
Municipal
58.71%
Other
41.29%
Diversification
CGCP
Total weight of top 15 holdings out of 15
37.59%
PZA
Total weight of top 15 holdings out of 15
1.53%
Top 15 holdings
Data as of September 30, 2026
CGCP
Capital Group Central Cash Fund
12.17%
US912810UX45
4.33%
USA, Bonds 5% 15may2056, USD
2.90%
USA, Bonds 4.625% 15feb2055, USD
2.36%
US01F0606B66
2.17%
US01F0226B66
1.87%
USA, Bonds 4.375% 15may2041, USD
1.60%
USA, Notes 3.75% 30apr2028, USD (BA-2028)
1.57%
US01F0506B75
1.46%
US31418FE297
1.33%
US01F0526B30
1.29%
USA, Notes 3.75% 31jan2031, USD (U-2031)
1.27%
US01F0206B03
1.22%
USA, Notes 3.5% 15mar2029, USD (AL-2029)
1.10%
FR SD4977, 5% 1nov2053, USD (ABS)
0.95%
PZA
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.13%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.12%
County of Jefferson (AL), 5.5% 1oct2053, USD (2024)
0.10%
US6133408D38
0.10%
US43233KAE47
0.10%
US818200VF19
0.10%
US160853VA29
0.10%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
0.10%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.10%
University of California Medical Center, 5% 15may2047, USD (2022)
0.10%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.10%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.09%
Massachusetts Development Finance Agency, 5.5% 1dec2056, USD
0.09%
Chicago Board of Education, 6% 1apr2046, USD (2017)
0.09%
Texas Transportation Finance Corp., 5.5% 1oct2055, USD (2025A)
0.09%
Frequently asked questions about CGCP and PZA
How have the CGCP and PZA ETFs performed in 2026?
As of November 4, 2026, CGCP is down -0.53% year-to-date (YTD), while PZA has lost -3.18%. That puts CGCP better performer ahead so far this year.
Which ETF is attracting more investor money: CGCP or PZA?
Year-to-date, the CGCP ETF saw +$2.53B in flows, compared to +$978M for PZA.
Which ETF is more volatile: CGCP or PZA?
Over the past year, CGCP had a volatility of 3.9%, while PZA experienced 4.85%.
Which ETF is bigger: CGCP or PZA?
As of November 4, 2026, CGCP holds $8.66 B in assets under management (AUM), while PZA manages $4.10 B.
What sectors do the CGCP and PZA ETFs invest in?
CGCP leans toward sectors like Sovereign, Non-Corporate and Finance. Meanwhile, PZA focuses on Municipal.
What are the top holdings of the CGCP ETF and PZA ETF?
CGCP top holdings include Capital Group Central Cash Fund, US912810UX45 and USA, Bonds 5% 15may2056, USD. PZA holds in its top three: California Health Facilities Financing Authority, 4% 1nov2044, USD, New York Dormitory Authority, 5.5% 1jul2054, USD (2024A) and County of Jefferson (AL), 5.5% 1oct2053, USD (2024).
Which ETF is more diversified: CGCP or PZA?
CGCP holds 1205 securities with 37.59% of its assets in the top 15. PZA has 7224 securities and a top 15 weight of 1.53%.
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