This ETF offers exposure to the municipal bond market, specifically focusing in on notes that are issued by municipalities in the state of New York. As a result, the fund is likely to be heavily influenced by any New York specific events, budget dealings, or political changes in the region. Muni investing in New York is an interesting proposition as it offers investors a nice mix of urban, suburban, and rural projects, offering immense diversification in a relatively small area. PZT offers a similar focus to its counterparts in the Category but it only tracks the best quality bonds on the market. This PowerShares fund only holds AAA-rated securities that are insured and tax-exempt. While this strategy undoubtedly decreases the default risk as well as the coupon payment, it greatly cuts down on the number of total holdings as well; PZT only holds 35 securities in total. PZT could be a good fund for investors looking for higher levels of muni exposure with virtually no risk but most would probably be better served by buying into a broader fund instead.
| Segment | Fixed Income: New York Government, Local Authority/Municipal Investment Grade |
| Category | Government, Local Authority/Municipal |
| Focus | Investment Grade |
| Niche | Broad Maturities |
| Strategy | Vanilla |
| Weighting Scheme | Market Value |
This section compares how balanced and deep this ETF is relative to its peers.
| PZT | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Number of Holdings | 77 | 193 | 237 |
| % of Assets in Top 10 | 26.83% | 21.78% | 20.76% |
| % of Assets in Top 15 | 37.48% | 30.63% | 28.91% |
| % of Assets in Top 50 | 82.48% | 76.10% | 69.17% |
| PZT | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Large (>12.9B) | N/A | N/A | N/A |
| Mid (>2.7B) | N/A | N/A | N/A |
| Small (>600M) | N/A | N/A | N/A |
| Micro (<600M) | N/A | N/A | N/A |
This section compares the P/E ratio of this ETF to its peers.
This section compares the dividend yield of this ETF to its peers.
| PZT | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Dividend | $ 0.06 | $ 0.07 | $ 0.07 |
| Dividend Date | 2023-05-22 | N/A | N/A |
| Annual Dividend Rate | $ 0.62 | $ 0.80 | $ 0.84 |
| Annual Dividend Yield | 2.74% | 2.95% | 2.60% |
View charts featuring PZT price and volume data.
View charts featuring ETF fund flow data.
5 Day Net Flows: 0 1 Month Net Flows: 0 3 Month Net Flows: 0 6 Month Net Flows: -3.37 M 1 Year Net Flows: -17.59 M 3 Year Net Flows: 11.18 M 5 Year Net Flows: 32.87 M 10 Year Net Flows: 35.99 MView charts that break down the influence that fund flows and price had on overall assets.
5 Day Net AUM Change: 368 KThe adjacent table gives investors an individual Realtime Rating for PZT 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 ETF Database Pro members, shows the ETF in the New York 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 ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.
This section compares the cost efficiency of this ETF to its peers.
| Max ST Capital Gains Rate | 39.60% |
| Max LT Capital Gains Rate | 20.00% |
| Tax On Distributions | Ordinary income |
| Distributes K1 | No |
PZT does not have an ESG score. There are no ESG themes that map to this ETF.
This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.
| PZT |
ETF Database
Category Average |
Factset Segment
Average |
|
|---|---|---|---|
| 1 Month Return | -0.29% | -0.57% | -0.59% |
| 3 Month Return | 3.18% | 2.09% | 2.16% |
| YTD Return | 3.57% | 2.62% | 2.50% |
| 1 Year Return | 0.88% | 1.21% | 1.38% |
| 3 Year Return | -1.02% | -0.38% | -0.50% |
| 5 Year Return | 1.51% | 1.26% | 1.01% |
The following charts reflect the geographic spread of PZT's underlying holdings.
The following charts reflect the allocation of PZT's underlying holdings.
| Asset | Percentage |
|---|---|
| Municipal | 97.31% |
| CASH | 1.5% |
| Other | 1.19% |
| Bond Sector | Percentage |
|---|
| 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 | 0.0% |
| 15-20 Years | 0.0% |
| 20-30 Years | 0.0% |
| 30+ Years | 0.0% |
| Asset | Percentage |
|---|---|
| Municipal | 97.31% |
| CASH | 1.5% |
| Other | 1.19% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
| 5 Day Volatility | 44.74% |
| 20 Day Volatility | 5.89% |
| 50 Day Volatility | 6.05% |
| 200 Day Volatility | 5.85% |
| Beta | 0.17 |
| Standard Deviation | 0.62% |
ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.
Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.
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