PABvsPZTETF Comparison
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PGIM Active Aggregate Bond ETF (PAB) belongs to the Intl Aggregate Bonds segment. Invesco New York AMT-Free Municipal Bond ETF (PZT) is part of the Municipal Bonds segment. PAB's top 3 sector exposures are Sovereign, Industrials and Finance. In contrast, PZT's top sector exposures are Municipal. PAB is less expensive with a Total Expense Ratio (TER) of 0.2%, versus 0.28% for PZT. PAB is down -1.59% year-to-date (YTD) with +$7M in YTD flows. PZT performs worse with -5.78% YTD performance, and +$6M in YTD flows. Run a side-by-side ETF comparison of PAB and PZT 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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PAB vs PZT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PAB PZT | -0.16%-0.53% | -1.87%-6.24% | -1.59%-5.78% | -1.31%-5.69% | +16.29%+6.62% | -1.48%-7.53% |
| Flows | PAB PZT | +$2M-$1M | +$32M+$239K | +$7M+$6M | +$14M+$2M | +$57M+$52M | +$83M+$41M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PAB PZT | +4.38%+7.43% | +3.94%+4.89% | +5.04%+5.83% | +6.00%+5.75% |
| Max drawdown | PAB PZT | -3.39%-8.98% | -4.80%-10.03% | -4.80%-10.03% | -18.67%-18.68% |
| Max drawdown duration | PAB PZT | 51d92d | 228d229d | 228d229d | 1553d1747d |
Trading data
PAB | PZT | |
Last sale 10/16/2026 at 1:30 PM | $40.69 | $20.90 |
| Previous close 10/15/2026 | $40.69 | $20.82 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 19, 2026
1-year trailing difference
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PAB
is actively managed and doesn’t replicate an indexPAB | PZT | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
PAB | PZT | |
|---|---|---|
| Last price | $40.69 | $20.90 |
| 1D performance | -0.00% | +0.38% |
| AuM | $98.67 M | $130.87 M |
| E/R | 0.2% | 0.28% |
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Exposure
Countries
PAB
USA
69.27%
Other
30.73%
PZT
USA
69.78%
Other
30.22%
Sectors
PAB
Sovereign
39.92%
Industrials
12.56%
Finance
8.57%
Other
38.95%
PZT
Municipal
69.78%
Other
30.22%
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Diversification
PAB
Total weight of top 15 holdings out of 15
28.85%
PZT
Total weight of top 15 holdings out of 15
11.73%
Top 15 holdings
Data as of August 31, 2026
PAB
USA, Notes 3.125% 31aug2029, USD (P-2029)
5.96%
USA, Notes 3.5% 15dec2028, USD (AV-2028)
2.94%
PGIM Core Government Money Market Fund
2.35%
USA, Notes 4.25% 30jun2033, USD (M-2033)
2.19%
USA, Notes 3.5% 31jan2028, USD (U-2028)
2.07%
USA, Bonds 2% 15nov2041, USD
1.75%
USA, Notes 3.875% 31mar2028, USD (AZ-2028)
1.59%
US3618N5VR78
1.41%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.37%
USA, Bonds 3% 15feb2049, USD
1.31%
USA, Notes 3.5% 15jan2029, USD (AJ-2029)
1.28%
USA, Notes 1.25% 15aug2031, USD (E-2031)
1.18%
USA, Notes 4.125% 30jun2031, USD (AA-2031)
1.17%
FR SD8004, 3% 1aug2049, USD (ABS)
1.15%
USA, Bonds 5% 15may2046, USD
1.14%
PZT
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
1.74%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.89%
New York Dormitory Authority, 4.25% 1may2052, USD (2022A)
0.87%
Battery Park City Authority, 5.25% 1nov2055, USD (2025)
0.80%
New York Power Authority, 4% 15nov2050, USD
0.78%
New York Dormitory Authority, 5.25% 1may2054, USD (2024A)
0.73%
New York Power Authority, 4% 15nov2055, USD
0.73%
US649519DW23
0.72%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.69%
New York Liberty Development Corp., 2.45% 15sep2069, USD (2019)
0.68%
Hudson Yards Infrastructure Corp., 4% 15feb2047, USD
0.66%
New York Dormitory Authority, 5% 1may2052, USD (2022A)
0.63%
Hudson Yards Infrastructure Corp., 4% 15feb2044, USD
0.63%
New York Dormitory Authority, 5.5% 1oct2054, USD (2024)
0.60%
New York Power Authority, 4% 15nov2045, USD
0.60%
Frequently asked questions about PAB and PZT
How have the PAB and PZT ETFs performed in 2026?
As of October 15, 2026, PAB is down -1.59% year-to-date (YTD), while PZT has lost -5.78%. That puts PAB better performer ahead so far this year.
Which ETF is attracting more investor money: PAB or PZT?
Year-to-date, the PAB ETF saw +$7M in flows, compared to +$6M for PZT.
Which ETF is more volatile: PAB or PZT?
Over the past year, PAB had a volatility of 3.94%, while PZT experienced 4.89%.
Which ETF is bigger: PAB or PZT?
As of October 15, 2026, PAB holds $98.67 M in assets under management (AUM), while PZT manages $130.87 M.
What sectors do the PAB and PZT ETFs invest in?
PAB leans toward sectors like Sovereign, Industrials and Finance. Meanwhile, PZT focuses on Municipal.
What are the top holdings of the PAB ETF and PZT ETF?
PAB top holdings include USA, Notes 3.125% 31aug2029, USD (P-2029), USA, Notes 3.5% 15dec2028, USD (AV-2028) and PGIM Core Government Money Market Fund. PZT holds in its top three: New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Hudson Yards Infrastructure Corp., 5% 15feb2042, USD and New York Dormitory Authority, 4.25% 1may2052, USD (2022A).
Which ETF is more diversified: PAB or PZT?
PAB holds 987 securities with 28.85% of its assets in the top 15. PZT has 1312 securities and a top 15 weight of 11.73%.
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