PWZ

Invesco California AMT-Free Municipal Bond ETF

$24.27

+0.00%

Market closed. Last update: 10:50 PM ET

📎 Investment Objective

The Invesco California AMT-Free Municipal Bond ETF (PWZ) seeks to track the investment results of the ICE BofA California Long-Term Core Plus Municipal Securities Index, which is composed of long-term, investment-grade, tax-exempt California municipal bonds.

Overview

ETF tracking Invesco California AMT-Free Municipal Bond ETF

Category Municipal Bonds

Issuer Invesco

Inception Date 2008-11-03

Market Cap $1.1B

Average Volume N/A

Dividend Yield 2.78%

52-Week Range $22.71 - $25.25

VWAP $24.30

Performance

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Investment Summary

📎 Investment Objective

🎯 Investment Strategy

The ETF invests primarily in municipal bonds issued by the state of California and its local governments. It aims to provide income that is exempt from federal and California state income taxes, while also seeking to preserve capital.

✨ Key Features

Focuses on long-term, investment-grade California municipal bonds
Designed to be exempt from federal and California state income taxes
Tracks the ICE BofA California Long-Term Core Plus Municipal Securities Index
Low expense ratio of 0.00%

⚠️ Primary Risks

Interest rate risk: The value of the bonds may decline as interest rates rise
Credit risk: The issuer of the bonds may default on payments
Concentration risk: The fund is focused on California municipal bonds, making it vulnerable to economic and political changes in the state
Liquidity risk: The bonds may be difficult to sell, especially during periods of market stress

👤 Best For

This ETF may be suitable for California-based investors seeking tax-exempt income and exposure to the California municipal bond market. It may be appropriate as a core fixed-income holding or for diversification within a broader investment portfolio.