PWZvsSCCRETF Comparison
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Invesco California AMT-Free Municipal Bond ETF (PWZ) belongs to the Municipal Bonds segment. Schwab Core Bond ETF (SCCR) is part of the US Aggregate Bonds segment. PWZ's top 1 sector exposures are Municipal. In contrast, SCCR's top sector exposures are Sovereign, Finance and Industrials. PWZ is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.16% for SCCR. PWZ is down -5.64% year-to-date (YTD) with +$142M in YTD flows. SCCR performs better with -1.63% YTD performance, and +$819M in YTD flows. Run a side-by-side ETF comparison of PWZ and SCCR 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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PWZ vs SCCR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PWZ SCCR | -0.98%-0.24% | -6.27%-2.03% | -5.64%-1.63% | -5.26%-1.73% | +5.72%n/a | -6.62%n/a |
| Flows | PWZ SCCR | -$19M+$61M | +$81M+$385M | +$142M+$819M | +$138M+$763M | +$318M- | +$737M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PWZ SCCR | +6.85%+4.49% | +4.44%+3.95% | +5.28%n/a | +5.21%n/a |
| Max drawdown | PWZ SCCR | -8.65%-3.46% | -9.53%-4.85% | -9.53%n/a | -17.07%n/a |
| Max drawdown duration | PWZ SCCR | 92d52d | 102d229d | 102dn/a | 1747dn/a |
Trading data
PWZ | SCCR | |
Last sale 10/16/2026 at 1:30 PM | $22.73 | $24.54 |
| Previous close 10/15/2026 | $22.70 | $24.52 |
| 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 18, 2026
1-year trailing difference
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SCCR
is actively managed and doesn’t replicate an indexPWZ | SCCR | |
|---|---|---|
| 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
PWZ | SCCR | |
|---|---|---|
| Last price | $22.73 | $24.54 |
| 1D performance | +0.13% | +0.08% |
| AuM | $1.16 B | $1.83 B |
| E/R | 0.28% | 0.16% |
Characteristics
PWZ | SCCR | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | Schwab ETFs |
| Benchmark | ICE BofA California Long-Term Core Plus Municipal Securities Index | - |
| N° of holdings | 671 | 226 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 11, 2007 | February 5, 2025 |
| ESG | No | No |
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Exposure
Countries
PWZ
USA
68.28%
Other
31.72%
SCCR
USA
71.14%
Other
28.86%
Sectors
PWZ
Municipal
68.28%
Other
31.72%
SCCR
Sovereign
21.52%
Finance
17.41%
Industrials
12.07%
Municipal
7.74%
Other
41.26%
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Diversification
PWZ
Total weight of top 15 holdings out of 15
7.38%
SCCR
Total weight of top 15 holdings out of 15
22.22%
Top 15 holdings
Data as of August 31, 2026
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%
SCCR
USA, Notes 4.125% 30jun2031, USD (AA-2031)
2.67%
USA, Notes 4.125% 15jun2029, USD (AP-2029)
2.65%
USA, Notes 4.125% 30jun2028, USD (BD-2028)
2.26%
USA, Notes 3.875% 15apr2029, USD (AM-2029)
1.60%
USA, Bonds 5% 15may2046, USD
1.58%
USA, Notes 4% 31may2028, USD (BC-2028)
1.52%
USA, Notes 3.5% 15mar2029, USD (AL-2029)
1.45%
USA, Notes 4.375% 31jul2031, USD (AB-2031)
1.22%
USA, Notes 4.125% 15jul2029, USD (AQ-2029)
1.21%
USA, Notes 4.125% 31may2031, USD (Z-2031)
1.21%
USA, Bonds 4.625% 15feb2055, USD
1.12%
US3132DWEK53
1.00%
United Airlines 2016-2, 2.875% 7apr2030, USD (ABS)
0.96%
US31418FT568
0.90%
United Airlines 2019-2, 2.7% 1nov2033, USD (ABS, AA)
0.87%
Frequently asked questions about PWZ and SCCR
How have the PWZ and SCCR ETFs performed in 2026?
As of October 16, 2026, PWZ is down -5.64% year-to-date (YTD), while SCCR has lost -1.63%. That puts SCCR better performer ahead so far this year.
Which ETF is attracting more investor money: PWZ or SCCR?
Year-to-date, the PWZ ETF saw +$142M in flows, compared to +$819M for SCCR.
Which ETF is more volatile: PWZ or SCCR?
Over the past year, PWZ had a volatility of 4.44%, while SCCR experienced 3.95%.
Which ETF is bigger: PWZ or SCCR?
As of October 16, 2026, PWZ holds $1.16 B in assets under management (AUM), while SCCR manages $1.83 B.
What sectors do the PWZ and SCCR ETFs invest in?
PWZ leans toward sectors like Municipal. Meanwhile, SCCR focuses on Sovereign, Finance and Industrials.
What are the top holdings of the PWZ ETF and SCCR ETF?
PWZ top holdings include 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). SCCR holds in its top three: USA, Notes 4.125% 30jun2031, USD (AA-2031), USA, Notes 4.125% 15jun2029, USD (AP-2029) and USA, Notes 4.125% 30jun2028, USD (BD-2028).
Which ETF is more diversified: PWZ or SCCR?
PWZ holds 1237 securities with 7.38% of its assets in the top 15. SCCR has 432 securities and a top 15 weight of 22.22%.
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