Invesco National AMT-Free Municipal Bond ETF
Invesco · Tracks ICE BofA U.S. National Long-Term Core Plus Municipal Securities Index · Inception Oct 11, 2007
Trailing returns
through Nov 10, 2026- 1 year
- -0.6%
- 3 year
- +2.2%
- annualized
- 5 year
- -0.6%
- annualized
Price return from month-end closes, distributions reinvested at month end. Excludes trading costs, bid-ask spreads and taxes. Past performance says nothing about future returns and is not part of the composite score — see the methodology for what the score does measure.
Composite score
Based on a 0.28% expense ratio.
Based on $4.11B in net assets.
Top-10 holdings represent 1.0% of net assets.
US Municipal Bond base · ETF wrapper · 3.95% TTM yield.
The composite is a weighted average of the four core sub-scores above (cost, tax efficiency, liquidity, concentration). Missing sub-scores fall back to the per-category median when the category has at least 50% data coverage, so funds without (e.g.) parsed N-PORT holdings aren't accidentally boosted by renormalization. Tracking quality is shown where computable but isn't currently part of the composite weighting. See methodology for formulas, the tracking-quality partial-coverage rationale, and the dimensions we deliberately don't score (methodology v0.5.2).
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Tool · Look-through
Underlying holdings, with other funds added
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Tool · Cost
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Compounds the 0.28% expense ratio against a peer over decades.
Tool · Overlap
Compare PZA's holdings with peers
Pairwise holdings heatmap, pre-loaded with similar US Municipal Bond funds.
Tool · TLH
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Ranks every catalog fund by holdings overlap, flags wash-sale risk.
Tool · Placement
Asset location for PZA across account types
Asset-location optimizer — places each fund in taxable / tax-deferred / Roth.
Top holdings
| # | Holding | Weight |
|---|---|---|
| 1 | California (State of) Health Facilities Financing Authority (Kaiser Permanente) | 0.13% |
| 2 | New York (State of) Dormitory Authority | 0.11% |
| 3 | New York (State of) Dormitory Authority | 0.10% |
| 4 | Jefferson (County of), AL | 0.10% |
| 5 | California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) | 0.10% |
| 6 | Salt River Project Agricultural Improvement & Power District | 0.10% |
| 7 | Triborough Bridge & Tunnel Authority | 0.10% |
| 8 | Regents of the University of California Medical Center | 0.10% |
| 9 | Charlotte-Mecklenburg Hospital Authority (The) | 0.09% |
| 10 | Ohio (State of) Higher Educational Facility Commission (Cleveland Clinic Health System Obligated Group) | 0.09% |
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