SCCRvsPWZETF Comparison
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Schwab Core Bond ETF (SCCR) belongs to the US Aggregate Bonds segment. Invesco California AMT-Free Municipal Bond ETF (PWZ) is part of the Municipal Bonds segment. SCCR's top 3 sector exposures are Finance, Sovereign and Industrials. In contrast, PWZ's top sector exposures are Municipal. SCCR is less expensive with a Total Expense Ratio (TER) of 0.16%, versus 0.28% for PWZ. SCCR is down -1.29% year-to-date (YTD) with +$767M in YTD flows. PWZ performs worse with -4.57% YTD performance, and +$154M in YTD flows. Run a side-by-side ETF comparison of SCCR 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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SCCR vs PWZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SCCR PWZ | -1.17%-3.35% | -2.11%-5.41% | -1.29%-4.57% | -0.31%-2.90% | n/a+3.73% | n/a-6.46% |
| Flows | SCCR PWZ | +$77M+$42M | +$362M+$104M | +$767M+$154M | +$915M+$136M | -+$552M | -+$789M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SCCR PWZ | +4.07%+4.53% | +3.77%+3.57% | n/a+5.22% | n/a+5.07% |
| Max drawdown | SCCR PWZ | -2.70%-6.26% | -3.30%-6.26% | n/a-8.29% | n/a-17.07% |
| Max drawdown duration | SCCR PWZ | 81d74d | 201d74d | n/a394d | n/a1719d |
Trading data
SCCR | PWZ | |
Last sale 9/18/2026 at 1:30 PM | $24.73 | $22.95 |
| Previous close 09/17/2026 | $24.82 | $23.05 |
| Consolidated volume 09/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 19, 2026
1-year trailing difference
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SCCR
is actively managed and doesn’t replicate an indexSCCR | 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 9/18/2026 at 1:30 PM
Live
Closed
SCCR | PWZ | |
|---|---|---|
| Last price | $24.73 | $22.95 |
| 1D performance | -0.34% | -0.43% |
| AuM | $1.79 B | $1.19 B |
| E/R | 0.16% | 0.28% |
Characteristics
SCCR | PWZ | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Schwab ETFs | Invesco |
| Benchmark | - | ICE BofA California Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 220 | 677 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 5, 2025 | October 11, 2007 |
| ESG | No | No |
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Exposure
Countries
SCCR
USA
71.63%
Other
28.37%
PWZ
USA
69.86%
Other
30.14%
Sectors
SCCR
Finance
18.58%
Sovereign
18.39%
Industrials
13.24%
Municipal
8.7%
Other
41.09%
PWZ
Municipal
69.86%
Other
30.14%
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Diversification
SCCR
Total weight of top 15 holdings out of 15
21.47%
PWZ
Total weight of top 15 holdings out of 15
7.32%
Top 15 holdings
Data as of July 31, 2026
SCCR
USA, Notes 4.125% 30jun2028, USD (BD-2028)
2.51%
USA, Notes 3.875% 15apr2029, USD (AM-2029)
1.85%
USA, Notes 4% 31may2028, USD (BC-2028)
1.77%
USA, Notes 4.125% 15jun2029, USD (AP-2029)
1.77%
USA, Notes 3.5% 15mar2029, USD (AL-2029)
1.70%
USA, Notes 4.125% 31may2031, USD (Z-2031)
1.42%
USA, Notes 4.125% 30jun2031, USD (AA-2031)
1.42%
USA, Bonds 4.625% 15feb2055, USD
1.32%
USA, Notes 3.5% 28feb2031, USD (V-2031)
1.26%
US3132DWEK53
1.19%
United Airlines 2016-2, 2.875% 7apr2030, USD (ABS)
1.13%
USA, Bonds 5% 15may2046, USD
1.07%
USA, Bonds 4.75% 15may2055, USD
1.06%
United Airlines 2019-2, 2.7% 1nov2033, USD (ABS, AA)
1.03%
American Airlines 2021-1, 2.875% 11jan2036, USD (ABS, A)
0.96%
PWZ
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.74%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.65%
University of California Medical Center, 5% 15may2047, USD (2022)
0.62%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.58%
University of California Medical Center, 4% 15may2053, USD
0.55%
California Educational Facilities Authority, 5% 1may2049, USD
0.54%
Los Angeles Unified School District, 4% 1jul2044, USD
0.48%
San Diego Community College District, 5% 1aug2055, USD (2024)
0.43%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.42%
University of California, 5% 15may2052, USD (2022)
0.40%
San Francisco Public Utilities Commission, 5% 1oct2054, USD (2024)
0.40%
California Educational Facilities Authority, 5% 1may2045, USD
0.39%
San Francisco Public Utilities Commission, 5% 1nov2055, USD (2025)
0.38%
University of California, 5% 15may2053, USD (2025)
0.38%
California Public Works Board, 5% 1apr2049, USD (2024)
0.38%
Frequently asked questions about SCCR and PWZ
How have the SCCR and PWZ ETFs performed in 2026?
As of September 18, 2026, SCCR is down -1.29% year-to-date (YTD), while PWZ has lost -4.57%. That puts SCCR better performer ahead so far this year.
Which ETF is attracting more investor money: SCCR or PWZ?
Year-to-date, the SCCR ETF saw +$767M in flows, compared to +$154M for PWZ.
Which ETF is more volatile: SCCR or PWZ?
Over the past year, SCCR had a volatility of 3.77%, while PWZ experienced 3.57%.
Which ETF is bigger: SCCR or PWZ?
As of September 18, 2026, SCCR holds $1.79 B in assets under management (AUM), while PWZ manages $1.19 B.
What sectors do the SCCR and PWZ ETFs invest in?
SCCR leans toward sectors like Finance, Sovereign and Industrials. Meanwhile, PWZ focuses on Municipal.
What are the top holdings of the SCCR ETF and PWZ ETF?
SCCR top holdings include USA, Notes 4.125% 30jun2028, USD (BD-2028), USA, Notes 3.875% 15apr2029, USD (AM-2029) and USA, Notes 4% 31may2028, USD (BC-2028). 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: SCCR or PWZ?
SCCR holds 413 securities with 21.47% of its assets in the top 15. PWZ has 1206 securities and a top 15 weight of 7.32%.
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