NYFvsPWZETF Comparison
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iShares New York Muni Bond ETF (NYF) and Invesco California AMT-Free Municipal Bond ETF (PWZ) belong to the same industry segment: Municipal Bonds. NYF's top 2 sector exposures are Municipal and Non-Corporate. In contrast, PWZ's top sector exposures are Municipal. NYF is less expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.28% for PWZ. NYF is down -0.56% year-to-date (YTD) with +$722M in YTD flows. PWZ performs worse with -4.13% YTD performance, and +$185M in YTD flows. Run a side-by-side ETF comparison of NYF and PWZ 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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NYF vs PWZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | NYF PWZ | +3.89%+3.87% | -1.08%-3.31% | -0.56%-4.13% | -0.29%-4.06% | +12.69%+9.62% | +2.76%-4.86% |
| Flows | NYF PWZ | +$248M+$31M | +$400M+$121M | +$722M+$185M | +$818M+$185M | +$1.13B+$351M | +$1.29B+$780M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NYF PWZ | +5.36%+6.95% | +3.41%+4.56% | +3.80%+5.26% | +3.76%+5.23% |
| Max drawdown | NYF PWZ | -5.58%-8.03% | -6.52%-9.53% | -6.52%-9.53% | -12.27%-17.07% |
| Max drawdown duration | NYF PWZ | 74d74d | 112d112d | 112d112d | 1001d1757d |
Trading data
NYF | PWZ | |
Last sale 10/27/2026 at 1:30 PM | $51.98 | $23.05 |
| Previous close 10/26/2026 | $51.93 | $22.99 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 27, 2026
1-year trailing difference
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NYF | PWZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
NYF | PWZ | |
|---|---|---|
| Last price | $51.98 | $23.05 |
| 1D performance | +0.10% | +0.24% |
| AuM | $1.75 B | $1.22 B |
| E/R | 0.09% | 0.28% |
Characteristics
NYF | PWZ | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Invesco |
| Benchmark | ICE AMT-Free New York Plus Municipal Index | ICE BofA California Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 603 | 671 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2007 | October 11, 2007 |
| ESG | No | No |
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Exposure
Countries
NYF
USA
63.81%
Other
36.19%
PWZ
USA
68.28%
Other
31.72%
Sectors
NYF
Municipal
63.79%
Other
36.21%
PWZ
Municipal
68.28%
Other
31.72%
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Diversification
NYF
Total weight of top 15 holdings out of 15
8.12%
PWZ
Total weight of top 15 holdings out of 15
7.38%
Top 15 holdings
Data as of August 31, 2026
NYF
Battery Park City Authority, FRN 1nov2038, USD (2019D)
0.82%
New York Dormitory Authority, 4% 1jul2045, USD
0.76%
New York Dormitory Authority, FRN 1sep2039, USD (2009A)
0.72%
US59261A5U73
0.70%
US73358XNC29
0.67%
US89602HHH30
0.53%
New York Thruway Authority, 5% 15mar2053, USD (2025)
0.53%
Battery Park City Authority, 5.25% 1nov2055, USD (2025)
0.46%
New York Dormitory Authority, 5% 15mar2039, USD (2025A)
0.46%
US73358XLZ32
0.44%
US64990AWT86
0.43%
New York Dormitory Authority, 5% 1oct2048, USD
0.41%
Utility Debt Securitization Authority, 5% 15dec2041, USD (2023TE-1)
0.39%
New York Urban Development Corp., 5% 15mar2029, USD (2017A)
0.39%
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.38%
PWZ
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.88%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.62%
University of California Medical Center, 5% 15may2047, USD (2022)
0.61%
University of California Medical Center, 4% 15may2053, USD
0.54%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.51%
California Educational Facilities Authority, 5% 1may2049, USD
0.50%
San Diego Community College District, 5% 1aug2055, USD (2024)
0.46%
University of California, 5% 15may2053, USD (2025)
0.46%
Los Angeles Unified School District, 4% 1jul2044, USD
0.45%
US13032U7V45
0.44%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.40%
University of California, 5% 15may2052, USD (2022)
0.38%
California Educational Facilities Authority, 5% 1may2045, USD
0.38%
San Francisco Public Utilities Commission, 5% 1oct2054, USD (2024)
0.38%
San Francisco Bay Area Rapid Transit District, 4.25% 1aug2052, USD (2016)
0.37%
Frequently asked questions about NYF and PWZ
How have the NYF and PWZ ETFs performed in 2026?
As of October 26, 2026, NYF is down -0.56% year-to-date (YTD), while PWZ has lost -4.13%. That puts NYF better performer ahead so far this year.
Which ETF is attracting more investor money: NYF or PWZ?
Year-to-date, the NYF ETF saw +$722M in flows, compared to +$185M for PWZ.
Which ETF is more volatile: NYF or PWZ?
Over the past year, NYF had a volatility of 3.41%, while PWZ experienced 4.56%.
Which ETF is bigger: NYF or PWZ?
As of October 26, 2026, NYF holds $1.75 B in assets under management (AUM), while PWZ manages $1.22 B.
What sectors do the NYF and PWZ ETFs invest in?
NYF leans toward sectors like Municipal. Meanwhile, PWZ focuses on Municipal.
What are the top holdings of the NYF ETF and PWZ ETF?
NYF top holdings include Battery Park City Authority, FRN 1nov2038, USD (2019D), New York Dormitory Authority, 4% 1jul2045, USD and New York Dormitory Authority, FRN 1sep2039, USD (2009A). PWZ holds in its top three: California Health Facilities Financing Authority, 4% 1nov2044, USD, California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A) and University of California Medical Center, 5% 15may2047, USD (2022).
Which ETF is more diversified: NYF or PWZ?
NYF holds 913 securities with 8.12% of its assets in the top 15. PWZ has 1237 securities and a top 15 weight of 7.38%.
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Latest news about NYF & PWZ
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