ETF comparison
CGMU vs PZA
Both US Municipal Bond.
Capital Group Municipal Income ETF · Invesco National AMT-Free Municipal Bond ETF
Holdings overlap
122 positions appear in both funds. Buying equal dollars of CGMU and PZA would leave roughly 1.6% of each dollar exposed to the same underlying securities.
Unmatched is the part of a fund's weight the other fund doesn't match: names only it holds, plus any extra weight it puts in names both funds hold.
Side by side
Sub-score comparison
Tracking quality isn't part of the composite — see what we don't score for why.
Cost difference
CGMU is 1 bps cheaper than PZA. On a $100,000 position that's about $10/yr more in fees for PZA.
Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with CGMU vs PZA.
Top shared holdings
122 shared in total| # | Holding | In CGMU | In PZA | Overlap |
|---|---|---|---|---|
| 1 | County of Montgomery MD | 0.44% | 0.09% | 0.09% |
| 2 | Chicago Board of Education Dedicated Capital Improvement Tax | 0.09% | 0.09% | 0.09% |
| 3 | Metropolitan Pier & Exposition Authority | 0.07% | 0.04% | 0.04% |
| 4 | Colorado Health Facilities Authority | 0.05% | 0.04% | 0.04% |
| 5 | New York City Municipal Water Finance Authority | 0.04% | 0.04% | 0.04% |
| 6 | Empire State Development Corp | 0.07% | 0.03% | 0.03% |
| 7 | Utah Transit Authority | 0.31% | 0.03% | 0.03% |
| 8 | Illinois Finance Authority | 0.14% | 0.03% | 0.03% |
| 9 | State of Illinois | 0.17% | 0.03% | 0.03% |
| 10 | County of Miami-Dade FL Aviation Revenue | 0.04% | 0.03% | 0.03% |
| 11 | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.04% | 0.02% | 0.02% |
| 12 | County of Clark NV | 0.02% | 0.04% | 0.02% |
Only in CGMU
2,213 total- Commonwealth of Puerto Rico 0.82%
- Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.69%
- Black Belt Energy Gas District 0.53%
- City of New York NY 0.51%
- New York City Municipal Water Finance Authority 0.47%
- California Community Choice Financing Authority 0.45%
- New York City Municipal Water Finance Authority 0.44%
- Maryland Health & Higher Educational Facilities Authority 0.40%
- Black Belt Energy Gas District 0.38%
- Triborough Bridge & Tunnel Authority 0.36%
Only in PZA
7,001 total- California (State of) Health Facilities Financing Authority (Kaiser Permanente) 0.13%
- New York (State of) Dormitory Authority 0.11%
- New York (State of) Dormitory Authority 0.10%
- Jefferson (County of), AL 0.10%
- California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) 0.10%
- Salt River Project Agricultural Improvement & Power District 0.10%
- Triborough Bridge & Tunnel Authority 0.10%
- Regents of the University of California Medical Center 0.10%
- Charlotte-Mecklenburg Hospital Authority (The) 0.09%
- Ohio (State of) Higher Educational Facility Commission (Cleveland Clinic Health System Obligated Group) 0.09%
Related comparisons
More comparisons with CGMU
- CGMU vs CMF · iShares California Muni Bond ETF 1.2%
- CGMU vs NYF · iShares New York Muni Bond ETF 1.0%
- CGMU vs JMST · JPMorgan Ultra-Short Municipal Income ETF 0.9%
- CGMU vs AGG · iShares Core U.S. Aggregate Bond ETF 0.0%
- CGMU vs BAB · Invesco Taxable Municipal Bond ETF 0.0%
- CGMU vs BND · Vanguard Total Bond Market Index Fund ETF Shares 0.0%
More comparisons with PZA
- PZA vs ITM · VanEck Intermediate Muni ETF 1.5%
- PZA vs MUNI · PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund 1.4%
- PZA vs JMST · JPMorgan Ultra-Short Municipal Income ETF 0.2%
- PZA vs SUB · iShares Short-Term National Muni Bond ETF 0.0%
- PZA vs AGG · iShares Core U.S. Aggregate Bond ETF 0.0%
- PZA vs BAB · Invesco Taxable Municipal Bond ETF 0.0%
Percentages are holdings overlap with the named fund.
Open CGMU or PZA at a brokerage
Both funds trade commission-free at major US brokerages.
Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.
Holdings overlap is the sum of min(weight_a, weight_b) over positions
matched on ISIN (CUSIP fallback). Methodology: see
/methodology/.
Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.