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  • ETF
  • PZA
    Pricing Data
    Change: $0.06 (-0.0%)
    Time: 07/25/17
    Previous Close: $25.64
  • Category
  • National Munis
Last Updated:



Trading Data

Open: - Volume -
Day Lo - Day Hi -
  • 52 Week Lo: $23.91
  • 52 Week Hi: $25.67
  • AUM: $1,519.3 M
  • Shares: 59.3 M

Investment Themes

Historical Trading Data

  • 1 Month Avg. Volume: 212,364
  • 3 Month Avg. Volume: 225,756

Alternative ETFs in the National Munis Category

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Type Ticker Expense Ratio Assets Avg. Daily Vol YTD Return
Largest (AUM)
Most Liquid (Volume)
Top YTD Performer

Analyst Report

This fund tracks an index of municipal bonds, a slice of the bond market that is highly coveted due to its tax features. These bonds are generally free from federal taxes and in some cases, state and local income taxes as well making these funds crucial components of portfolios for those in high tax brackets. Muni bonds are used by local entities to pay for a variety of services or to make improvements to infrastructure paying for everything from new sewer systems to school renovations and bridge construction as such, they are relatively low risk instruments. This is especially true in the case of PZA since the fund only targets munis that are insured or in other words, have bought insurance from a private company that will pay out if the underlying bond defaults. As a result PZA is a solid choice for investors seeking broad exposure to the muni market but with much lower levels of risk; allowing investors the safety of an insured product but with the tax advantages of the muni sector. However, the fund does have a much lower rate of interest than others in the category and its level of diversification is a little lacking compared to other muni funds; the product holds just under 160 securities in total but puts close to 30% in the fund's top ten holdings. Still, for risk adverse investors in high tax brackets this could make for a solid fund, however, other investors should probably look to other corners of the muni market in order to capture higher levels of current income.

Realtime Rating

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Realtime Rating Summary

The adjacent table gives investors an individual Realtime Rating for PZA on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the National Munis with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Compare to another ETF

View the Category Report

PZA Overall Realtime Rating:

A+ Overall Rated ETF:

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A n/a
Expenses B- n/a

Knowledge Centers

PZA In-Depth Analysis

The following tables and charts contain in-depth metrics for this ETF and compare it to similar peer ETFs within its ETFdb.com Category.

PZA Holdings

Filings Data as of: Jul 24, 2017

All 353 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to the peer group ETFdb.com Category.

Number of Holdings
Category Low
Category High
% Assets in Top 10
Category Low
Category High
% Assets in Top 15
Category Low
Category High
% Assets in Top 50
Category Low
Category High

Asset Allocation

Asset Percentage
Municipal debt 100.0%

Bond Sector Breakdown

Bond Sector Percentage
Municipal 100.0%

Bond Detailed Sector Breakdown

Bond Sector Percentage
Municipal Bond 99.05%
Municipal Build America Bond 0.09%
Other 0.86%

Coupon Breakdown

Coupon Range Percentage
0% to 1% 0.0%
1% to 2% 0.0%
2% to 3% 0.0%
3% to 4% 0.0%
4% to 5% 5.02%
5% to 6% 92.0%
6% to 7% 2.4%
7% to 8% 0.57%
8% to 9% 0.0%
9% to 10% 0.0%
Greater Than 10% 0.0%

Credit Quality

Credit Percentage
AAA 5.31%
AA 44.42%
A 42.97%
BBB 5.15%
BB 0.52%
B 0.89%
Below B 0.0%
Not Rated 0.0%
Rating Unknown 0.74%

Maturity Breakdown

Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 5.67%
15-20 Years 18.2%
20-30 Years 68.0%
30+ Years 8.12%

PZA Expenses & Fees

This section compares the cost efficiency of this ETF to peers in the same ETFdb.com Category.

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Expenses Ratio Analysis

ETF Average
ETF Wtd. Average
Category Average
Expense Ratio
Category Low
Category High

Commission Free Trading

This ETF is not currently available for commission free trading on any platforms.

Category Commission Free Trading

There are 6 other ETFs in the National Munis ETFdb.com Category that are also eligible for commission free trading:

PZA Performance

This section shows how this ETF has performed relative to its peer group ETFdb.com Category.

1 Week Return
Category Low
Category High
4 Week Return
Category Low
Category High
13 Week Return
Category Low
Category High
26 Week Return
Category Low
Category High
Year to Date Return
Category Low
Category High
1 Year Return
Category Low
Category High
3 Year Return
Category Low
Category High
5 Year Return
Category Low
Category High

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The following charts can be customized to display historical performance in a number of different formats, including line charts, bar charts, and candlesticks. Time periods can be adjusted to increase or decrease the period shown, ranging from five minutes to several months.

The following chart also includes the option to compare the performance of PZA relative to other ETFs and benchmarks or to include indicators such as Bollinger Bands, relative strength, and moving averages.

PZA Valuation

This section shows how the P/E multiple of this ETF compares to the peer group ETFdb.com Category.

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P/E Ratio
No Ranking Available
Category Low
Category High

PZA Dividend

This section shows how the dividend yield of this ETF compares to the peer group ETFdb.com Category.

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Dividend Date
Annual Dividend Rate
Annual Dividend Yield
Category Low
Category High

PZA Technicals

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Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETFdb.com Category.

5 Day Volatility
Category Low
Category High
20 Day Volatility
Category Low
Category High
50 Day Volatility
Category Low
Category High
200 Day Volatility
Category Low
Category High
Category Low
Category High
Standard Deviation
Category Low
Category High


  • 20 Day MA: $25.45
  • 60 Day MA: $25.33
  • MACD 15 Period: 0.12
  • MACD 100 Period: 0.47
  • Williams % Range 10 Day: 26.99
  • Williams % Range 20 Day: 21.78
  • RSI 10 Day: 63
  • RSI 20 Day: 62
  • RSI 30 Day: 62
  • Ultimate Oscillator: 65

Bollinger Brands

  • Lower Bollinger (10 Day): $25.33
  • Upper Bollinger (10 Day): $25.71
  • Lower Bollinger (20 Day): $25.22
  • Upper Bollinger (20 Day): $25.67
  • Lower Bollinger (30 Day): $25.27
  • Upper Bollinger (30 Day): $25.67

Support & Resistance

  • Support Level 1: $25.56
  • Support Level 2: $25.55
  • Resistance Level 1: $25.61
  • Resistance Level 2: $25.65


  • Stochastic Oscillator %D (1 Day): 48.65
  • Stochastic Oscillator %D (5 Day): 72.83
  • Stochastic Oscillator %K (1 Day): 67.06
  • Stochastic Oscillator %K (5 Day): 82.09

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETFdb.com. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Source: LSEG Information Services (US), Inc. (“LSEG”) © LSEG 2016. All rights in the XTF data, ratings and / or underlying data contained in this communication (“the XTF information”) vest in LSEG and/or its licensors. Neither LSEG nor its licensors accept any liability arising out of the use of, reliance on or any errors or omissions in the XTF information. No further distribution of the XTF information is permitted without LSEG’s express written consent. LSEG does not promote, sponsor or endorse the content of this communication.