PZT

📎 Investment Objective

The Invesco New York AMT-Free Municipal Bond ETF (PZT) seeks to provide current income that is exempt from federal and New York state income taxes, including the alternative minimum tax (AMT).

✨ Key Features

• Focuses on municipal bonds from the state of New York
• Seeks to provide income exempt from federal and New York state taxes, including AMT
• Passively managed to track the performance of the ICE BofA New York Municipal Securities Index
• Low expense ratio of 0.00%

⚠️ Primary Risks

• Interest rate risk: The value of the bonds may decline when interest rates rise
• Credit risk: The issuers of the municipal bonds may default on their payments
• Concentration risk: The fund's focus on New York municipal bonds makes it vulnerable to economic and political conditions in the state
• Liquidity risk: The municipal bond market can be less liquid than other fixed-income markets

👤 Best For

This ETF may be suitable for investors seeking tax-exempt income from New York municipal bonds as part of a diversified fixed-income portfolio. It may be particularly appealing to investors subject to New York state income taxes or the alternative minimum tax.