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PZA
Invesco National AMT-Free Municipal Bond ETF

Price: $26.91
Change: $0.04 (0.0%)
Category: National Munis
Last Updated:

Vitals

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $24.45
  • 52 Week Hi $26.92
  • AUM $2,304.1 M
  • Shares 85.7 M

Investment Themes

Historical Trading Data

  • 1 Month Avg. Volume 659,170
  • 3 Month Avg. Volume 393,219

Alternative ETFs in the National Munis Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest MUB 0.07% $16.1 B 914,891 1.73%
Largest (AUM) MUB 0.07% $16.1 B 914,891 1.73%
Most Liquid (Volume) VTEB 0.08% $7.5 B 951,165 1.69%
Top YTD Performer BAB 0.28% $1.5 B 216,524 3.74%

Top 15 Holdings

Concentration Analysis

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

Number of Holdings
426
Low: OVM (2)
High: MUB (4281)
Rank:
17 of 47
% Assets in Top 10
11.42%
Low: MUB (1.85%)
High: OVM (100.00%)
Rank:
17 of 47
% Assets in Top 15
15.74%
Low: MUB (2.58%)
High: OVM (100.00%)
Rank:
32 of 47
% Assets in Top 50
36.39%
Low: MUB (6.85%)
High: OVM (100.00%)
Rank:
31 of 47
 
View Summary Analysis
 
426
Number of Holdings
11.42%
% Assets in Top 10
15.74%
% Assets in Top 15
36.39%
% Assets in Top 50
 
View Detailed Analysis
 

426
Number of Holdings
11.42%
% Assets in Top 10
15.74%
% Assets in Top 15
36.39%
% Assets in Top 50
 
View Detailed Analysis
 
Number of Holdings
426
Rank
17 of 47
Low
OVM (2)
High
MUB (4281)
% Assets in Top 10
11.42%
Rank
17 of 47
Low
MUB (1.85%)
High
OVM (100.00%)
% Assets in Top 15
15.74%
Rank
32 of 47
Low
MUB (2.58%)
High
OVM (100.00%)
% Assets in Top 50
36.39%
Rank
31 of 47
Low
MUB (6.85%)
High
OVM (100.00%)

 
View Summary Analysis
 

Sector Breakdown

Asset Percentage
Municipal debt 100.0%
Bond Sector Percentage
Municipal 100.0%
Bond Sector Percentage
Municipal Bond 98.74%
Other 1.26%
Coupon Range Percentage
0% to 1% 0.0%
1% to 2% 2.39%
2% to 3% 0.3%
3% to 4% 5.23%
4% to 5% 9.38%
5% to 6% 81.9%
6% to 7% 0.37%
7% to 8% 0.44%
8% to 9% 0.0%
9% to 10% 0.0%
Greater Than 10% 0.0%
Credit Percentage
AAA 7.24%
AA 58.87%
A 28.88%
BBB 3.35%
BB 0.54%
B 0.47%
Below B 0.0%
Not Rated 0.18%
Rating Unknown 0.47%
Maturity Percentage
Less Than 1 Year 0.38%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.08%
10-15 Years 3.04%
15-20 Years 16.51%
20-30 Years 71.87%
30+ Years 8.12%
 
View Less Charts
 
Asset Percentage
Municipal debt 100.0%
 
View More Charts
 

PZA Valuation

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

P/E Ratio
No Ranking Available
Low: N/A
High: N/A
Rank:
N/A
P/E Ratio
No Ranking Available
Rank
N/A
Low
N/A
High
N/A

PZA Dividend

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

Dividend
$0.06
Dividend Date
2020-01-21
Annual Dividend Rate
$0.74

$0.06
Dividend
2020-01-21
Dividend Date
$0.74
Annual Dividend Rate
Annual Dividend Yield
2.74%
Low: OVM (0.10%)
High: MMIT (4.15%)
Rank:
10 of 47
Annual Dividend Yield
2.74%
Rank
10 of 47
Low
OVM (0.10%)
High
MMIT (4.15%)

PZA Fund Flows

This section compares the fund flows of this ETF to peers in the same ETFdb.com Category.

Realtime Rating

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.

Sign Up for Pro to Unlock Data Sign Up
Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A n/a
Expenses B- n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

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.

PZA Expenses & Fees

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

Expenses Ratio Analysis

ETF Average
0.545%
ETF Wtd. Average
0.19%
Category Average
0.26%
ESG Themes and Scores

PZA does not have an ESG score. There are no ESG themes that map to this ETF.

PZA Performance

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

1 Week Return
0.30%
Low: FLMI (-0.12%)
High: FMHI (0.42%)
Rank:
4 of 42
4 Week Return
0.89%
Low: PVI (-0.01%)
High: BAB (2.46%)
Rank:
17 of 47
13 Week Return
2.74%
Low: PVI (0.17%)
High: BSMT (3.70%)
Rank:
19 of 47
26 Week Return
1.65%
Low: IBMI (0.44%)
High: FMHI (3.52%)
Rank:
12 of 37
Year to Date Return
1.92%
Low: FUMB (0.04%)
High: BAB (3.74%)
Rank:
19 of 47
1 Year Return
9.83%
Low: PVI (1.05%)
High: BAB (13.79%)
Rank:
9 of 33
3 Year Return
17.51%
Low: PVI (2.97%)
High: BAB (25.99%)
Rank:
8 of 21
5 Year Return
23.97%
Low: PVI (3.03%)
High: BAB (32.02%)
Rank:
6 of 17
 
View Summary Analysis
 
0.30%
1 Week Return
0.89%
4 Week Return
2.74%
13 Week Return
1.65%
26 Week Return
1.92%
Year to Date Return
9.83%
1 Year Return
17.51%
3 Year Return
23.97%
5 Year Return
 
View Detailed Analysis
 

0.30%
1 Week Return
0.89%
4 Week Return
2.74%
13 Week Return
1.65%
26 Week Return
1.92%
Year to Date Return
9.83%
1 Year Return
17.51%
3 Year Return
23.97%
5 Year Return
 
View Detailed Analysis
 
1 Week Return
0.30%
Rank
4 of 42
Low
FLMI (-0.12%)
High
FMHI (0.42%)
4 Week Return
0.89%
Rank
17 of 47
Low
PVI (-0.01%)
High
BAB (2.46%)
13 Week Return
2.74%
Rank
19 of 47
Low
PVI (0.17%)
High
BSMT (3.70%)
26 Week Return
1.65%
Rank
12 of 37
Low
IBMI (0.44%)
High
FMHI (3.52%)
Year to Date Return
1.92%
Rank
19 of 47
Low
FUMB (0.04%)
High
BAB (3.74%)
1 Year Return
9.83%
Rank
9 of 33
Low
PVI (1.05%)
High
BAB (13.79%)
3 Year Return
17.51%
Rank
8 of 21
Low
PVI (2.97%)
High
BAB (25.99%)
5 Year Return
23.97%
Rank
6 of 17
Low
PVI (3.03%)
High
BAB (32.02%)

 
View Summary Analysis
 

PZA Charts

PZA Technicals

Volatility Analysis

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

Technicals

  • 20 Day MA $26.81
  • 60 Day MA $26.54
  • MACD 15 Period 0.06
  • MACD 100 Period 0.48
  • Williams % Range 10 Day 7.14
  • Williams % Range 20 Day 3.24
  • RSI 10 Day 77
  • RSI 20 Day 73
  • RSI 30 Day 69
  • Ultimate Oscillator 56

Bollinger Brands

  • Lower Bollinger (10 Day) $26.80
  • Upper Bollinger (10 Day) $26.91
  • Lower Bollinger (20 Day) $26.67
  • Upper Bollinger (20 Day) $26.96
  • Lower Bollinger (30 Day) $26.47
  • Upper Bollinger (30 Day) $26.99

Support & Resistance

  • Support Level 1 $26.89
  • Support Level 2 $26.86
  • Resistance Level 1 $26.93
  • Resistance Level 2 $26.94

Stochastic

  • Stochastic Oscillator %D (1 Day) 64.07
  • Stochastic Oscillator %D (5 Day) 76.12
  • Stochastic Oscillator %K (1 Day) 62.88
  • Stochastic Oscillator %K (5 Day) 69.24

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.

Download the fact sheet PDF

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