ETF comparison
PZA vs SCMB
Both US Municipal Bond.
Invesco National AMT-Free Municipal Bond ETF · Schwab Municipal Bond ETF
Holdings overlap
2,395 positions appear in both funds. Buying equal dollars of PZA and SCMB would leave roughly 25.2% 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
SCMB is 25 bps cheaper than PZA. On a $100,000 position that's about $250/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 PZA vs SCMB.
Top shared holdings
2,395 shared in total| # | Holding | In PZA | In SCMB | Overlap |
|---|---|---|---|---|
| 1 | New York (State of) Dormitory Authority | 0.11% | 0.08% | 0.08% |
| 2 | New Jersey Transportation Trust Fund Authority | 0.08% | 0.08% | 0.08% |
| 3 | Jefferson (County of), AL | 0.09% | 0.08% | 0.08% |
| 4 | Salt River Project Agricultural Improvement & Power District | 0.10% | 0.07% | 0.07% |
| 5 | Triborough Bridge & Tunnel Authority (Green Bonds) | 0.07% | 0.09% | 0.07% |
| 6 | New York (City of), NY Transitional Finance Authority | 0.07% | 0.07% | 0.07% |
| 7 | Texas Water Development Board | 0.07% | 0.08% | 0.07% |
| 8 | Chicago (City of), IL Transit Authority | 0.07% | 0.14% | 0.07% |
| 9 | New York City Municipal Water Finance Authority | 0.07% | 0.06% | 0.06% |
| 10 | Oklahoma (State of) Turnpike Authority (Senior Bonds) | 0.06% | 0.08% | 0.06% |
| 11 | Massachusetts (Commonwealth of) | 0.06% | 0.14% | 0.06% |
| 12 | Triborough Bridge & Tunnel Authority (TBTA Capital Lockbox Fund) | 0.06% | 0.13% | 0.06% |
Only in PZA
4,728 total- California (State of) Health Facilities Financing Authority (Kaiser Permanente) 0.13%
- California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) 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%
- Hillsborough County Industrial Development Authority 0.09%
- County of Montgomery MD 0.09%
- Public Building Authority of Sevier County TN (The) 0.09%
- Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group) 0.09%
- Massachusetts Development Finance Agency 0.09%
Only in SCMB
4,450 total- Gwinnett County School District 0.22%
- Commonwealth of Pennsylvania 0.21%
- City of New York NY 0.20%
- State of California Department of Water Resources 0.19%
- State of Washington 0.17%
- New York City Municipal Water Finance Authority 0.17%
- Indiana Finance Authority 0.15%
- City of New York NY 0.15%
- Louisville and Jefferson County Metropolitan Sewer District 0.15%
- University of California 0.15%
Related comparisons
More comparisons with PZA
More comparisons with SCMB
- SCMB vs MUB · iShares National Muni Bond ETF 21.5%
- SCMB vs CMF · iShares California Muni Bond ETF 7.0%
- SCMB vs NYF · iShares New York Muni Bond ETF 6.4%
- SCMB vs SUB · iShares Short-Term National Muni Bond ETF 6.0%
- SCMB vs ITM · VanEck Intermediate Muni ETF 3.8%
- SCMB vs JMUB · JPMorgan Municipal ETF 3.1%
Percentages are holdings overlap with the named fund.
Open PZA or SCMB 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.