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Invesco California AMT-Free Municipal Bond ETF
PWZ performance and flow charts
Performance
Flows
Historic performance and flows
Data as of October 16, 2026| 1M | 3M | YTD | 1Y | 3Y | 5Y | |
|---|---|---|---|---|---|---|
| Perf. | -0.98% | -6.27% | -5.64% | -5.26% | +5.72% | -6.62% |
| Flows | -$19M | +$81M | +$142M | +$138M | +$318M | +$737M |
Characteristics
The Invesco California AMT-Free Municipal Bond ETF is built to track the ICE BofA California Long-Term Core Plus Municipal Securities Index - USD. This ETF provides physical exposure - by owning its shares you earn the return of the securities composing the index (as the ETF holds them directly). This share class generates a stream of income by distributing dividends.
| Management strategy | Passive |
| Strategy | Long Only |
| Provider | Invesco |
| N° of holdings | 1237 |
| Replication method | Direct (Physical) |
| Asset class | Fixed Income |
| Dividend policy | Distributing |
Trailing 12m distribution yield | Join for free |
| Inception date | October 11, 2007 |
| ESG | No |
More data and info about PWZ on Trackinsight
Exposure
Data as of August 31, 2026Diversification
Total weight of top 15 holdings out of 1,237
Top 15 Holdings
Sectors
Countries
Maturity
Credit rating
Similar ETFs
Trading data
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Volatility | +6.85% | +4.44% | +5.28% | +5.21% |
Max drawdown | -8.65% | -9.53% | -9.53% | -17.07% |
Max drawdown duration | 92d | 102d | 102d | 1747d |
Time to recover | N/A | N/A | N/A | N/A |
Replication quality
Data as of October 18, 2026Create an account to view replication metrics
1 year cumulative return difference | |
|---|---|
| Best | Join for free |
| Worst | Join for free |
| daily return difference | |
|---|---|
| Average | Join for free |
| Worst | Join for free |
What type of ETF is PWZ?
PWZ is a Passive ETF that provides exposure to Fixed Income assets. It is managed by Invesco.
What index does PWZ track?
PWZ tracks the ICE BofA California Long-Term Core Plus Municipal Securities Index - USD, aiming to replicate its performance through optimized sampling.
What does PWZ invest in?
This ETF provides exposure to US Investment Grade Municipal Bonds. It is part of the segment: Municipal Bonds.
What is the expense ratio of PWZ?
The total expense ratio (TER) of PWZ is 0.28%, representing the annual fee charged by the fund manager.
When was PWZ launched?
PWZ was launched on October 11, 2007, marking its entry into the ETF market.
Who is the issuer of PWZ?
PWZ is issued by Invesco.
What is the AUM of PWZ?
As of October 16, 2026, PWZ manages $1.16 B, reflecting the total assets held in the fund.
How has PWZ performed recently?
As of October 16, 2026, PWZ delivered a return of -0.98% over the past month (1M performance), -6.27% over the past three months (3M), and -5.64% year-to-date (YTD).
What are the recent fund flows for PWZ?
As of October 16, 2026, PWZ has seen net flows of -$19M in the past month (1M flow) and +$142M year-to-date (YTD).
Does PWZ pay dividends?
As of October 16, 2026, PWZ has a trailing 12-month distribution yield of 1.62%.
How many holdings are in PWZ
As of August 31, 2026, PWZ holds 1237 securities in its portfolio. This level of diversification can influence the fund’s risk profile and exposure to individual assets.
How diversified is PWZ?
As of August 31, 2026, PWZ holds 1237 securities, with 7.38% of its assets concentrated in its top 15 holdings.
What are the top holdings of PWZ?
As of August 31, 2026, PWZ holds a portfolio of 1237 underlyings, with its largest positions including 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). These top holdings play a significant role in shaping the fund’s performance and exposure.
What countries or regions does PWZ invest in?
As of August 31, 2026, PWZ has its largest geographic exposures in USA.
What sectors or themes does PWZ focus on?
As of August 31, 2026, PWZ is primarily exposed to Municipal.
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