Key stats
About Invesco National AMT-Free Municipal Bond ETF
Home page
Inception date
Oct 11, 2007
Structure
Open-Ended Fund
Replication method
Physical
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.
ISIN
US46138E5371
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.
Related funds
Classification
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal99.12%
Cash0.88%
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
PZA assets under management is 3.25 B USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
PZA invests in bonds. See more details in our Analysis section.
PZA expense ratio is 0.28%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, PZA isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, PZA pays dividends to its holders with the dividend yield of 3.41%.
PZA shares are issued by Invesco Ltd.
PZA follows the ICE BofA National Long-Term Core Plus Municipal. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Oct 11, 2007.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.