PWZ
·NYSE
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Key Stats
Assets Under Management
1.09BUSD
Fund Flows (1Y)
--
Dividend Yield
3.08%
Discount/Premium to NAV
--
Shares Outstanding
--
Expense Ratio
0.28%
About Invesco California 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 California 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.
PWZ focuses on AMT-free bonds primarily within the California municipal debt market but includes small amounts in US territories such as Puerto Rico and Guam muni issues as they currently enjoy the same tax treatment as California munis. The index selects US-denominated investment-grade tax-exempt debt securities that have at least 15 years remaining term to maturity. The fund may carry more interest rate risk due to the skew towards long-dated bonds. The fund also tilts heavily toward the volatile revenue bond sector. These biases boost the fund's yield, but also increase risk. The fund and the index are rebalanced and reconstituted monthly.
Classification
Asset Class
Fixed Income
Category
Government, Local Authority/Municipal
Focus
Investment Grade
Niche
Long-Term
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 | -0.78% | +0.88% | -2.06% | -2.10% | -0.94% | -13.76% |
NAV Total Return | -0.43% | +1.93% | +0.94% | -0.45% | +8.67% | -0.46% |
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
1.19%
California Educational Facilities Authority
0.72%
California Health Facilities Financing Authority
0.69%
California Health Facilities Financing Authority-1
0.67%
Regents of the University of California Medical Center Pooled Revenue
0.65%
California Educational Facilities Authority-1
0.61%
Los Angeles Unified School District/CA
0.57%
Regents of the University of California Medical Center Pooled Revenue-1
0.53%
State of California
0.48%
California State Public Works Board
0.47%
Top 10 Weight 6.58%
900 Total Holdings
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-11-24 | 2025-11-24 | 2025-11-28 | 0.075 |
| 2025-10-20 | 2025-10-20 | 2025-10-24 | 0.069 |
| 2025-09-22 | 2025-09-22 | 2025-09-26 | 0.066 |
| 2025-08-18 | 2025-08-18 | 2025-08-22 | 0.067 |
| 2025-07-21 | 2025-07-21 | 2025-07-25 | 0.067 |
| 2025-06-23 | 2025-06-23 | 2025-06-27 | 0.066 |
| 2025-05-19 | 2025-05-19 | 2025-05-23 | 0.070 |
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Premium/Discount Chart
Premium/Discount to NAV
Price
1M
Assets Under Management
Assets Under Management
1M
Fund Flows
Inflows
Outflows
1M
