PZA

Invesco National AMT-Free Municipal Bond ETF

$23.29

+0.00%

Market closed. Last update: 10:58 PM ET

📎 Investment Objective

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

Overview

ETF tracking Invesco National AMT-Free Municipal Bond ETF

Category Municipal Bonds

Issuer Invesco

Inception Date 2008-11-03

Market Cap $3.3B

Average Volume N/A

Dividend Yield 2.88%

52-Week Range $21.91 - $24.26

VWAP $23.32

Performance

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Investment Summary

📎 Investment Objective

🎯 Investment Strategy

The ETF invests primarily in municipal bonds that are exempt from federal income tax and the federal alternative minimum tax (AMT). The fund seeks to replicate the performance of the index by holding a representative sample of the bonds in the index.

✨ Key Features

Provides exposure to a diversified portfolio of long-term, investment-grade municipal bonds
Seeks to track an index that excludes bonds subject to the federal AMT
Designed to offer tax-exempt income for investors in higher tax brackets
Low expense ratio of 0.00%

⚠️ Primary Risks

Interest rate risk: The value of municipal bonds may decline when interest rates rise
Credit risk: The issuer of a municipal bond may default on its obligations
Liquidity risk: Municipal bonds may be less liquid than other fixed-income securities
Concentration risk: The fund's performance may be more sensitive to events affecting the municipal bond market

👤 Best For

This ETF may be suitable for investors seeking tax-exempt income and exposure to the municipal bond market, particularly those in higher tax brackets who are looking for a low-cost, diversified investment option.