PZA

Invesco National AMT-Free Municipal Bond ETF
C

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*Unless otherwise stated, data provided by FactSet.

PZA Fund Description

PZA tracks an index of investment grade, tax-exempt debt publicly issued by a US state with at least 15 years remaining to maturity.

PZA Factset Analytics Insight

PZA offers a distinctive take on the municipal bond space, one that strongly favors longer-dated bonds and revenue bonds. It enjoys high yields for the segment, with marketlike credit risk, though is tilted toward long-dated paper. In sum, PZA is a higher risk and higher reward play on the muni market, which helps put it on our Opportunities List. It trades well in small quantities, though creations / redemptions suffer due to the spotty underlying market liquidity. It charges a few more basis points than its competitors, but its tracking has been unreliable at times, which can make its true holding costs unpredictable.

PZA Charts And Performance

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Select ETFs to compare their performance:
PERFORMANCE [as of 09/19/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
PZA -1.22% 1.88% 7.96% 9.83% 3.54% 4.46% 4.89%
PZA (NAV) -1.00% 1.99% 7.72% 9.51% 3.59% 4.51% 4.92%
ICE BofAML National Long-Term Core Plus Municipal Securities Index -1.28% 2.59% 10.50% 12.74% 4.33% 5.65% 4.92%
Barclays Municipal Bond -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

PZA Summary Data

Invesco
10/11/07
Open-Ended Fund
0.28%
$2.00B
$5.84M
0.05%

PZA Portfolio Data

6.69
--
3.73%
09/23/19
413

PZA Index Data

ICE BofAML National Long-Term Core Plus Municipal Securities Index
Market Value
AMT-Free
Barclays Municipal Bond

PZA Portfolio Management

0.28%
-1.04%
1.12%
-3.26%

PZA Tax Exposures

20.00% / 39.60%
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Ordinary income
No

PZA 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 -

PZA Factset Analytics Block Liquidity

As of 09/20/19
5
4
3
2
1

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

PZA Tradability

219,900
$5.84M
185,459
$4.95M
0.05%
$0.01
0.02%
0.27% / -0.46%
None
100.00%
50,000
3.71
0.04%
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59
$26.44
N/A

PZA Sector/Industry Breakdown


PZA
Segment Benchmark
80.87%
--
17.81%
--
1.32%
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PZA Top 10 Holdings[View All]

1.67%
1.48%
1.31%
1.29%
1.26%
1.23%
1.22%
1.12%
1.07%
1.03%
12.68%

PZA Top 5 Countries


PZA
Segment Benchmark
100.00%
--

PZA Top 5 Currencies


PZA
Segment Benchmark
100.00%
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PZA Performance Statistics

0.88
1.72
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PZA Holdings Statistics

7.97 years
6.69
3.73%
6.72
Low
413
0.81%

PZA Avg Life Maturity Distribution

9.14%
1.66%
4.53%
9.52%
22.97%
41.23%
1.35%
--
9.60%

PZA OAS Breakdown

17.77%
0.74%
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