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Invesco National AMT-Free Municipal Bond ETF
PZA performance and flow charts
Performance
Flows
Historic performance and flows
Data as of July 17, 2026| 1M | 3M | YTD | 1Y | 3Y | 5Y | |
|---|---|---|---|---|---|---|
| Perf. | -0.26% | -0.11% | +0.44% | +7.40% | +7.04% | -3.12% |
| Flows | +$98M | +$321M | +$987M | +$1.34B | +$2.05B | +$2.23B |
Characteristics
The Invesco National AMT-Free Municipal Bond ETF is built to track the ICE BofAML National 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 | 6664 |
| 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 PZA on Trackinsight
Exposure
Data as of May 31, 2026Diversification
Total weight of top 15 holdings out of 6,664
Top 15 Holdings
Sectors
Countries
Maturity
Credit rating
Trading data
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Volatility | +3.45% | +3.47% | +5.34% | +5.20% |
Max drawdown | -2.27% | -3.30% | -8.59% | -18.60% |
Max drawdown duration | 43d | 138d | 432d | 1823d |
Time to recover | 14d | N/A | 311d | N/A |
Replication quality
Data as of July 19, 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 PZA?
PZA is a Passive ETF that provides exposure to Fixed Income assets. It is managed by Invesco.
What index does PZA track?
PZA tracks the ICE BofAML National Long-Term Core Plus Municipal Securities Index - USD, aiming to replicate its performance through optimized sampling.
What does PZA 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 PZA?
The total expense ratio (TER) of PZA is 0.28%, representing the annual fee charged by the fund manager.
When was PZA launched?
PZA was launched on October 11, 2007, marking its entry into the ETF market.
Who is the issuer of PZA?
PZA is issued by Invesco.
What is the AUM of PZA?
As of July 17, 2026, PZA manages $4.29 B, reflecting the total assets held in the fund.
How has PZA performed recently?
As of July 17, 2026, PZA delivered a return of -0.26% over the past month (1M performance), -0.11% over the past three months (3M), and 0.44% year-to-date (YTD).
What are the recent fund flows for PZA?
As of July 17, 2026, PZA has seen net flows of +$98M in the past month (1M flow) and +$987M year-to-date (YTD).
Does PZA pay dividends?
As of July 17, 2026, PZA has a trailing 12-month distribution yield of 1.85%.
How many holdings are in PZA
As of May 31, 2026, PZA holds 6664 securities in its portfolio. This level of diversification can influence the fund’s risk profile and exposure to individual assets.
How diversified is PZA?
As of May 31, 2026, PZA holds 6664 securities, with 1.57% of its assets concentrated in its top 15 holdings.
What are the top holdings of PZA?
As of May 31, 2026, PZA holds a portfolio of 6664 underlyings, with its largest positions including California Health Facilities Financing Authority, 4% 1nov2044, USD, US65000BW384 and New York Dormitory Authority, 4% 15feb2047, USD (2019D). These top holdings play a significant role in shaping the fund’s performance and exposure.
What countries or regions does PZA invest in?
As of May 31, 2026, PZA has its largest geographic exposures in USA.
What sectors or themes does PZA focus on?
As of May 31, 2026, PZA is primarily exposed to Municipal.
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