CPLBvsPZAETF Comparison
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NYLI MacKay Core Plus Bond ETF (CPLB) belongs to the Intl Aggregate Bonds segment. Invesco National AMT-Free Municipal Bond ETF (PZA) is part of the Municipal Bonds segment. CPLB's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, PZA's top sector exposures are Municipal. CPLB is more expensive with a Total Expense Ratio (TER) of 0.46%, versus 0.28% for PZA. CPLB is down -0.83% year-to-date (YTD) with +$208M in YTD flows. PZA performs worse with -4.2% YTD performance, and +$1.06B in YTD flows. Run a side-by-side ETF comparison of CPLB 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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CPLB vs PZA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CPLB PZA | +1.35%+4.27% | -1.32%-3.18% | -0.83%-4.20% | -0.89%-4.32% | +21.03%+9.92% | +1.93%-5.76% |
| Flows | CPLB PZA | +$77M+$20M | +$133M+$57M | +$208M+$1.06B | +$211M+$955M | +$256M+$1.98B | +$489M+$2.19B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CPLB PZA | +4.08%+7.38% | +3.43%+4.81% | +4.68%+5.52% | +5.86%+5.47% |
| Max drawdown | CPLB PZA | -3.61%-8.18% | -4.30%-9.83% | -4.30%-9.83% | -18.55%-18.28% |
| Max drawdown duration | CPLB PZA | 63d75d | 240d240d | 240d240d | 1372d1758d |
Trading data
CPLB | PZA | |
Last sale 10/28/2026 at 1:30 PM | $20.29 | $21.85 |
| Previous close 10/27/2026 | $20.32 | $21.90 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 29, 2026
1-year trailing difference
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CPLB
is actively managed and doesn’t replicate an indexCPLB | 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 10/28/2026 at 1:30 PM
Live
Closed
CPLB | PZA | |
|---|---|---|
| Last price | $20.29 | $21.85 |
| 1D performance | -0.15% | -0.23% |
| AuM | $484.14 M | $4.14 B |
| E/R | 0.46% | 0.28% |
Characteristics
CPLB | PZA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | New York Life Investments | Invesco |
| Benchmark | - | ICE BofA National Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 662 | 3395 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 29, 2021 | October 11, 2007 |
| ESG | No | No |
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Exposure
Countries
CPLB
USA
47.85%
Other
52.15%
PZA
USA
59.27%
Other
40.73%
Sectors
CPLB
Sovereign
13.75%
Finance
11%
Industrials
7.45%
Other
67.8%
PZA
Municipal
59.27%
Other
40.73%
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Diversification
CPLB
Total weight of top 15 holdings out of 15
25.14%
PZA
Total weight of top 15 holdings out of 15
1.51%
Top 15 holdings
Data as of August 31, 2026
CPLB
USA, Notes 4.375% 31jul2033, USD (N-2033)
8.55%
US912810UX45
5.32%
US912810UW61
2.81%
USA, Notes 4.375% 31jul2031, USD (AB-2031)
2.28%
USA, Notes 4.125% 15jul2029, USD (AQ-2029)
2.09%
US91282CRF04
0.62%
US3132DWDC47
0.47%
US31418EB825
0.46%
USA, Notes 4.25% 31jul2028, USD (BE-2028)
0.44%
US3140XQFR34
0.39%
US3137G0VB27
0.37%
US749384AA14
0.36%
Coty, 4.75% 15jan2029, USD
0.35%
US20754XAG88
0.34%
Evergy Kansas Central, 5.25% 15mar2035, USD
0.31%
PZA
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.13%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.12%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.10%
County of Jefferson (AL), 5.5% 1oct2053, USD (2024)
0.10%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.10%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
0.10%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.10%
University of California Medical Center, 5% 15may2047, USD (2022)
0.10%
County of Jefferson (AL), 5.25% 1oct2049, USD (2024)
0.10%
Orange Health Facilities Authority, 5.25% 1oct2056, USD (2025A)
0.09%
US818200VF19
0.09%
US6133408D38
0.09%
US160853VA29
0.09%
US67756AH960
0.09%
US43233KAE47
0.09%
Frequently asked questions about CPLB and PZA
How have the CPLB and PZA ETFs performed in 2026?
As of October 27, 2026, CPLB is down -0.83% year-to-date (YTD), while PZA has lost -4.2%. That puts CPLB better performer ahead so far this year.
Which ETF is attracting more investor money: CPLB or PZA?
Year-to-date, the CPLB ETF saw +$208M in flows, compared to +$1.06B for PZA.
Which ETF is more volatile: CPLB or PZA?
Over the past year, CPLB had a volatility of 3.43%, while PZA experienced 4.81%.
Which ETF is bigger: CPLB or PZA?
As of October 27, 2026, CPLB holds $484.14 M in assets under management (AUM), while PZA manages $4.14 B.
What sectors do the CPLB and PZA ETFs invest in?
CPLB leans toward sectors like Sovereign, Finance and Industrials. Meanwhile, PZA focuses on Municipal.
What are the top holdings of the CPLB ETF and PZA ETF?
CPLB top holdings include USA, Notes 4.375% 31jul2033, USD (N-2033), US912810UX45 and US912810UW61. PZA holds in its top three: California Health Facilities Financing Authority, 4% 1nov2044, USD, New York Dormitory Authority, 5.5% 1jul2054, USD (2024A) and New York Dormitory Authority, 4% 15feb2047, USD (2019D).
Which ETF is more diversified: CPLB or PZA?
CPLB holds 961 securities with 25.14% of its assets in the top 15. PZA has 7121 securities and a top 15 weight of 1.51%.
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Latest news about CPLB & PZA
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