PWZ

Invesco California AMT-Free Municipal Bond ETF
*Unless otherwise stated, data provided by FactSet.

PWZ Fund Description

PWZ tracks an index of insured investment-grade, tax-exempt debt issued by California or Puerto Rico with at least 15 years remaining to maturity.

PWZ Factset Analytics Insight

PWZ focuses on AMT-free bonds within the California municipal debt market, but includes small amounts of Puerto Rico and Guam muni issues as they currently enjoy the same tax treatment as California munis. The fund carries more interest rate risk than our benchmark due to the skew towards long-dated bonds in its basket. The fund also tilts heavily toward the volatile revenue bond sector. These biases boost the fund’s yield, but also increase risk. PWZ charges a reasonable fee, and while tracking can be a bit spotty at times, overall holding costs tend to be lower than the listed expense ratio. Average daily trading volume is decent but spreads can be quite wide. Block traders are also up against the thin liquidity of the underlying municipal bond market.

PWZ Charts And Performance

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Total Return Chart (%)
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Select ETFs to compare their performance:
PERFORMANCE [as of 11/11/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
PWZ -0.59% -0.25% 7.55% 10.52% 4.56% 4.13% 5.10%
PWZ (NAV) -1.50% -0.52% 7.42% 10.17% 3.74% 4.12% 5.03%
ICE BofAML California Long-Term Core Plus Municipal Securities Index -0.92% -0.53% 7.82% 10.21% 4.38% 4.28% 5.03%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

PWZ Summary Data

Invesco
10/11/07
Open-Ended Fund
0.28%
$351.02M
$1.24M
0.17%

PWZ Portfolio Data

7.13
--
3.74%
09/23/19
140

PWZ Index Data

ICE BofAML California Long-Term Core Plus Municipal Securities Index
Market Value
AMT-Free
N/A

PWZ Portfolio Management

0.28%
-0.16%
0.05%
-0.37%

PWZ Tax Exposures

20.00% / 39.60%
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Ordinary income
No

PWZ Fund Structure

Open-Ended Fund
No
No
100% / 0%
N/A
N/A
Low
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

PWZ Factset Analytics Block Liquidity

As of 11/12/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of PWZ. PWZ is rated a N/A out of 5.

PWZ Tradability

45,318
$1.24M
33,267
$907.00K
0.17%
$0.05
0.00%
0.31% / -0.43%
None
100.00%
50,000
0.67
0.04%
--
0
$27.09
N/A

PWZ Sector/Industry Breakdown


PWZ
Segment Benchmark
72.82%
--
27.18%
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PWZ Top 10 Holdings[View All]

4.69%
3.41%
3.12%
2.43%
2.05%
1.75%
1.75%
1.75%
1.74%
1.74%
24.43%

PWZ Top 5 Countries


PWZ
Segment Benchmark
100.00%
--

PWZ Top 5 Currencies


PWZ
Segment Benchmark
100.00%
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PWZ Performance Statistics

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PWZ Holdings Statistics

6.78 years
7.13
3.74%
7.17
High
140
0.56%

PWZ Avg Life Maturity Distribution

6.02%
0.62%
3.49%
11.58%
16.98%
46.01%
--
0.62%
14.68%

PWZ OAS Breakdown

97.49%
2.51%
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