PZTvsBSMTETF Comparison
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Invesco New York AMT-Free Municipal Bond ETF (PZT) and Invesco BulletShares 2029 Municipal Bond ETF (BSMT) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. PZT is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.18% for BSMT. PZT is down -5.78% year-to-date (YTD) with +$6M in YTD flows. BSMT performs better with -2.12% YTD performance, and +$71M in YTD flows. Run a side-by-side ETF comparison of PZT and BSMT 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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PZT vs BSMT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PZT BSMT | -0.53%-0.17% | -6.24%-1.99% | -5.78%-2.12% | -5.69%-1.57% | +6.62%+8.94% | -7.53%-3.78% |
| Flows | PZT BSMT | -$1M+$11M | +$239K+$25M | +$6M+$71M | +$2M+$90M | +$52M+$255M | +$41M+$292M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PZT BSMT | +7.43%+3.24% | +4.89%+2.00% | +5.83%+2.81% | +5.75%+3.44% |
| Max drawdown | PZT BSMT | -8.98%-3.83% | -10.03%-5.02% | -10.03%-5.02% | -18.68%-16.14% |
| Max drawdown duration | PZT BSMT | 92d92d | 229d236d | 229d236d | 1747d1747d |
Trading data
PZT | BSMT | |
Last sale 10/16/2026 at 1:30 PM | $20.90 | $22.54 |
| Previous close 10/15/2026 | $20.82 | $22.52 |
| 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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PZT | BSMT | |
|---|---|---|
| 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
PZT | BSMT | |
|---|---|---|
| Last price | $20.90 | $22.54 |
| 1D performance | +0.38% | +0.09% |
| AuM | $130.87 M | $299.23 M |
| E/R | 0.28% | 0.18% |
Characteristics
PZT | BSMT | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | Invesco |
| Benchmark | ICE BofA New York Long-Term Core Plus Municipal Securities Index | ICE BulletShares USD Municipal Bond 2029 Index |
| N° of holdings | 767 | 1088 |
| Asset class | Bonds | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 11, 2007 | September 13, 2019 |
| ESG | No | No |
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Exposure
Countries
PZT
USA
69.78%
Other
30.22%
BSMT
USA
64%
Other
36%
Sectors
PZT
Municipal
69.78%
Other
30.22%
BSMT
Municipal
64%
Other
36%
Diversification
PZT
Total weight of top 15 holdings out of 15
11.73%
BSMT
Total weight of top 15 holdings out of 15
5.27%
Top 15 holdings
Data as of August 31, 2026
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%
BSMT
Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2)
0.51%
US89602HJB42
0.51%
New Jersey, 5% 1jun2029, USD
0.49%
US43233KAG94
0.40%
Harris Cultural Education Facilities Finance Corp., 5% 1dec2029, USD (2026A)
0.39%
US19648FXR09
0.36%
Ohio Water Development Authority, 5% 1jun2029, USD (2019A)
0.31%
US544647HL79
0.31%
US13034A5B23
0.31%
New York Municipal Water Finance Authority, 5% 15jun2040, USD
0.30%
New Jersey Turnpike Authority, 5% 1jan2048, USD
0.30%
Lancaster Hospital Authority, 5% 1nov2051, USD (2021)
0.28%
Pennsylvania Turnpike Commission, 5% 1dec2044, USD
0.28%
US91412HTF00
0.27%
Massachusetts School Building Authority, 5% 15feb2044, USD
0.26%
Frequently asked questions about PZT and BSMT
How have the PZT and BSMT ETFs performed in 2026?
As of October 16, 2026, PZT is down -5.78% year-to-date (YTD), while BSMT has lost -2.12%. That puts BSMT better performer ahead so far this year.
Which ETF is attracting more investor money: PZT or BSMT?
Year-to-date, the PZT ETF saw +$6M in flows, compared to +$71M for BSMT.
Which ETF is more volatile: PZT or BSMT?
Over the past year, PZT had a volatility of 4.89%, while BSMT experienced 2%.
Which ETF is bigger: PZT or BSMT?
As of October 16, 2026, PZT holds $130.87 M in assets under management (AUM), while BSMT manages $299.23 M.
What sectors do the PZT and BSMT ETFs invest in?
PZT leans toward sectors like Municipal. Meanwhile, BSMT focuses on Municipal.
What are the top holdings of the PZT ETF and BSMT ETF?
PZT top holdings include 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). BSMT holds in its top three: Triborough Bridge and Tunnel Authority, 5% 1feb2029, USD (2026A2), US89602HJB42 and New Jersey, 5% 1jun2029, USD.
Which ETF is more diversified: PZT or BSMT?
PZT holds 1312 securities with 11.73% of its assets in the top 15. BSMT has 1992 securities and a top 15 weight of 5.27%.
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