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PZA
+0.45 · +1.99%
$23.31 · NYSE ARCA

Invesco National AMT-Free Municipal Bond ETF (PZA) ETF Analysis | Muni National Long

Invesco · United States
AUM:$3.8B
#– of – in Muni National Long ETFs

Educational tool only – Figures are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

PZA returned +3.0% over the past year, broadly in line with flat market conditions.

Cost Efficiency

Ongoing charge of 0.28% — competitive for the exposure provided.

What is PZA?

The fund generally will invest at least 80% of its total assets in the components of the index. Strictly in accordance with its guidelines and mandated procedures, the index provider compiles, maintains and calculates the underlying index, which is composed of U.

Performance Highlights

Returns (%)
Cost & Yield (%)

Investment Breakdown

Modest 1-Year Return
PZA returned 3.0% over the past year.
Competitive Expense Ratio
Expense ratio of 0.28% — reasonable for the index exposure provided.
Broadly Diversified
Top 10 holdings represent just 6.3% of the ETF — exposure spread across many positions.
ETF Information
AUM$3.8B
Expense Ratio0.28%
Dividend Yield3.57%
Holdings10
Inception DateOct 2007
DomicileUnited States
DistributionNA
Index–
ProviderInvesco
Beta1.29
CategoryMuni National Long
CurrencyUSD
Portfolio Impact

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Example preview
6168
+7 points · better diversified

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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
-3.7%
1Y
+4.1%
3Y
+7.5%
5Y
-4.1%
OpenBook InsightIf you had invested £10,000 in PZA 5 years ago, it would have fallen to £9,593 — a loss of £407.

Annual Returns

Calendar year performance

PZA delivered positive returns in 3 of the last 5 calendar years.
YearPZA
2026 YTD-1.7%
2025+1.4%
2024+0.8%
2023+7.8%
2022-13.0%
CAGR 4yr-1.1%
3/5 positive yearsAvg return: -0.9%Worst year: -13.0% (2022)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: NEGATIVE
Trend Strength
0%
Negative
Volatility
4.8%
Low
Momentum
-2.5%
30-day change
Support Level
22.65
Key floor
Key Insights
  • Price is currently below all major moving averages, indicating a weaker trend profile.
  • Price is consolidating, with low momentum over the recent period.
  • Low volatility environment with a narrower recent trading range.
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