PZA
Invesco National AMT-Free Municipal Bond ETF·ARCA
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Key Stats
Assets Under Management
3.63BUSD
Fund Flows (1Y)
559.09MUSD
Dividend Yield
3.56%
Discount/Premium to NAV
-0.04%
Shares Outstanding
155.50M
Expense Ratio
0.28%
About Invesco National AMT-Free Municipal Bond ETF
Issuer
Invesco Capital Management LLC
Brand
Invesco
Inception Date
Oct 11, 2007
Structure
Open-Ended Fund
Index Tracked
ICE BofAML National Long-Term Core Plus Municipal Securities Index
Management Style
Passive
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Invesco Capital Management LLC
Distributor
Invesco Distributors, Inc.
PZA offers a distinctive take on the municipal bond space, one that strongly favors longer-dated bonds and revenue bonds. The fund tracks an index of investment-grade, tax-exempt debt publicly issued by a US state. It invests primarily in long-term securities with at least 15 years to maturity and weights constituents by market value. PZA uses a sampling strategy, meaning the fund may not hold all the securities of the underlying index but will hold securities that collectively have the same investment profile. The fund and the index are rebalanced and reconstituted monthly.
Classification
Asset Class
Fixed Income
Category
Government, Local Authority/Municipal
Focus
Investment Grade
Niche
Broad Maturities
Strategy
Vanilla
Geography
U.S.
Weighting Scheme
Market Value
Selection Criteria
AMT-free
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | +0.17% | +0.17% | +0.47% | -1.23% | -2.30% | -14.44% |
NAV Total Return | +0.49% | +0.79% | +0.66% | +1.81% | +8.03% | -0.75% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
No data is currently available
Asset
No data is currently available
Region
No data is currently available
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
CASH & EQUIVALENTS
2.30%
New York State Dormitory Authority
0.14%
California Health Facilities Financing Authority
0.14%
State of California
0.13%
Dallas Independent School District
0.13%
University of California
0.13%
Metropolitan Transportation Authority
0.12%
Salt River Project Agricultural Improvement & Power District
0.12%
New York City Municipal Water Finance Authority
0.11%
Regents of the University of California Medical Center Pooled Revenue
0.11%
Top 10 Weight 3.43%
1160 Total Holdings
Is SPY better than PZA?
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2026-01-20 | 2026-01-20 | 2026-01-23 | 0.073 |
| 2025-12-22 | 2025-12-22 | 2025-12-26 | 0.080 |
| 2025-11-24 | 2025-11-24 | 2025-11-28 | 0.071 |
| 2025-10-20 | 2025-10-20 | 2025-10-24 | 0.070 |
| 2025-09-22 | 2025-09-22 | 2025-09-26 | 0.068 |
| 2025-08-18 | 2025-08-18 | 2025-08-22 | 0.069 |
| 2025-07-21 | 2025-07-21 | 2025-07-25 | 0.069 |
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How Much Does PZA Pay in Dividends?
Premium/Discount Chart
Assets Under Management
Should I buy PZA?
Fund Flows
