PZTvsLTAXETF Comparison
VS
Invesco New York AMT-Free Municipal Bond ETF (PZT) and Nomura Tax-Free USA ETF (LTAX) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. PZT is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.39% for LTAX. Run a side-by-side ETF comparison of PZT and LTAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
PZT vs LTAX 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 LTAX | -0.53%-1.14% | -6.24%-5.08% | -5.78%n/a | -5.69%n/a | +6.62%n/a | -7.53%n/a |
| Flows | PZT LTAX | -$1M+$1M | +$239K+$1M | +$6M- | +$2M- | +$52M- | +$41M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PZT LTAX | +7.43%+6.72% | +4.89%n/a | +5.83%n/a | +5.75%n/a |
| Max drawdown | PZT LTAX | -8.98%-7.51% | -10.03%n/a | -10.03%n/a | -18.68%n/a |
| Max drawdown duration | PZT LTAX | 92d92d | 229dn/a | 229dn/a | 1747dn/a |
Trading data
PZT | LTAX | |
Last sale 10/16/2026 at 1:30 PM | $20.90 | $23.55 |
| Previous close 10/15/2026 | $20.82 | $23.54 |
| 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
Create an account to view replication metrics
Join for free
LTAX
is actively managed and doesn’t replicate an indexPZT | LTAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
PZT | LTAX | |
|---|---|---|
| Last price | $20.90 | $23.55 |
| 1D performance | +0.38% | +0.04% |
| AuM | $130.87 M | $7.07 M |
| E/R | 0.28% | 0.39% |
Advertisement
Exposure
Countries
PZT
USA
69.78%
Other
30.22%
LTAX
USA
70.75%
Other
29.25%
Sectors
PZT
Municipal
69.78%
Other
30.22%
LTAX
Municipal
70.75%
Other
29.25%
Advertisement
Diversification
PZT
Total weight of top 15 holdings out of 15
11.73%
LTAX
Total weight of top 15 holdings out of 15
27.79%
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%
LTAX
New York Transitional Finance Authority, 5% 1feb2053, USD (2026)
2.46%
Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD
2.33%
Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025)
2.09%
Puerto Rico, FRN 1nov2043, USD
1.90%
Massachusetts Development Finance Agency, 5% 15feb2034, USD (2026A)
1.83%
New Jersey Transportation Trust Fund Authority, 5.25% 15jun2041, USD (2024)
1.83%
Minnesota Agricultural and Economic Development Board, 5.25% 1jan2054, USD (2024)
1.73%
US876443WT58
1.72%
Greater Orlando Aviation Authority, 5.25% 1nov2034, USD (2025)
1.72%
US43233KAW45
1.71%
Black Belt Energy Gas District, 5% 1jul2033, USD (2026)
1.70%
US59335KFV44
1.69%
US63607YEY23
1.69%
New York Municipal Water Finance Authority, 5.25% 15jun2056, USD (2026)
1.69%
Colorado Bridge and Tunnel Enterprise, 5.25% 1dec2054, USD (2025A)
1.69%
Frequently asked questions about PZT and LTAX
Which ETF is bigger: PZT or LTAX?
As of October 16, 2026, PZT holds $130.87 M in assets under management (AUM), while LTAX manages $7.07 M.
What sectors do the PZT and LTAX ETFs invest in?
PZT leans toward sectors like Municipal. Meanwhile, LTAX focuses on Municipal.
What are the top holdings of the PZT ETF and LTAX 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). LTAX holds in its top three: New York Transitional Finance Authority, 5% 1feb2053, USD (2026), Puerto Rico Sales Tax Financing Corp., 4.75% 1jul2053, USD and Wisconsin Public Finance Authority, 5.75% 31dec2065, USD (2025).
Which ETF is more diversified: PZT or LTAX?
PZT holds 1312 securities with 11.73% of its assets in the top 15. LTAX has 86 securities and a top 15 weight of 27.79%.
Advertisement
Advertisement
