AVMU vs PZA
Avantis Core Municipal Fixed Income ETF against Invesco National AMT-Free Municipal Bond ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
3%
140 shared positions
Fee gap
13 bp
AVMU is cheaper
1-year return gap
2.4 pts
AVMU is ahead
Larger fund
PZA
$4.1B
Side by side
| AVMU | PZA | |
|---|---|---|
| Fund | Avantis Core Municipal Fixed Income ETF | Invesco National AMT-Free Municipal Bond ETF |
| Issuer | Avantis | Invesco |
| Category | National Muni | National Muni |
| Expense ratio | 0.15% | 0.28% |
| Assets | $168M | $4.1B |
| Average daily dollar volume | $1.9M | $100M |
| Listed | Dec 10, 2020 | Oct 11, 2007 |
| FrenzyCap score | 68 | 80 |
| 1-month return | +0.4% | −1.5% |
| 3-month return | −3.4% | −5.5% |
| Year to date | −5.6% | −6.9% |
| 1-year return | −5.3% | −7.7% |
| 30-day volatility | 8.3% | 8.8% |
| Worst drawdown, 1 year | −10.3% | −10.4% |
| Trailing 12-month yield | 3.66% | 4.10% |
| Holdings | 568 | 6,664 |
| Top 10 weight | 11.0% | 1.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$7.0M thru May 2026 | +$400M thru May 2026 |
| 30-day implied volatility | — | 9.4% |
| Holdings as of | as of Oct 20, 2026issuer data | as of May 31, 2026SEC filing |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
33% of AVMU · 3% of PZA| Holding | AVMU | PZA |
|---|---|---|
| NEW YORK ST DORM AUTH ST PERSO NYSHGR 02/47 FIXED 4, due Feb 15, 2047 | 0.11% | 0.11% |
| NEW YORK ST DORM AUTH REVENUES NYSHGR 07/43 FIXED 4, due Jul 1, 2043 | 0.21% | 0.07% |
| CALIFORNIA ST CAS 09/43 FIXED OID 4, due Sep 1, 2043 | 0.11% | 0.06% |
| MASSACHUSETTS ST MAS 01/49 FIXED 5, due Jan 1, 2049 | 0.27% | 0.06% |
| GRAND PARKWAY TRANSPRTN CORP T GPTTRN 10/45 FIXED 4, due Oct 1, 2045 | 0.89% | 0.06% |
| HUDSON YARDS INFRASTRUCTURE CO HUYGEN 02/44 FIXED 4, due Feb 15, 2044 | 0.33% | 0.05% |
| SAN ANTONIO TX PUB FACS CORP L SANFAC 09/42 FIXED OID 4, due Sep 15, 2042 | 2.02% | 0.05% |
| BROWARD CNTY FL ARPT SYS REVEN BROAPT 10/42 FIXED OID 4, due Oct 1, 2042 | 0.47% | 0.05% |
| MET PIER EXPOSITION AUTH IL MPNFAC 12/42 FIXED 4, due Dec 15, 2042 | 0.30% | 0.05% |
| TEXAS ST WTR DEV BRD TXSWTR 10/45 FIXED 4, due Oct 15, 2045 | 0.23% | 0.05% |
| MET TRANSPRTN AUTH NY REVENUE MTATRN 11/42 FIXED 4, due Nov 15, 2042 | 0.05% | 0.04% |
| NEW JERSEY ST TURNPIKE AUTH TU NJSTRN 01/43 FIXED 4, due Jan 1, 2043 | 0.11% | 0.04% |
| MASSACHUSETTS ST MAS 11/50 FIXED 5, due Nov 1, 2050 | 0.04% | 0.06% |
| LAS VEGAS NV CONVENTION VISI LASGEN 07/43 FIXED 5, due Jul 1, 2043 | 0.29% | 0.04% |
| ENERGY N W WA ELEC REVENUE ENEPWR 07/42 FIXED 4, due Jul 1, 2042 | 0.58% | 0.04% |
| ILLINOIS ST TOLL HIGHWAY AUTH ILSTRN 01/46 FIXED 5, due Jan 1, 2046 | 0.34% | 0.04% |
| ILLINOIS ST TOLL HIGHWAY AUTH ILSTRN 01/46 FIXED 4, due Jan 1, 2046 | 0.43% | 0.04% |
| NEW YORK ST DORM AUTH ST PERSO NYSHGR 03/42 FIXED 5, due Mar 15, 2042 | 0.33% | 0.04% |
| TEXAS WTR DEV BRD REVENUE TXSWTR 10/47 FIXED 4.125, due Oct 15, 2047 | 0.47% | 0.04% |
| NEW YORK ST DORM AUTH REVENUES NYSHGR 07/45 FIXED 4, due Jul 1, 2045 | 0.26% | 0.04% |
| CLARK CNTY NV CLA 06/43 FIXED 5, due Jun 1, 2043 | 0.11% | 0.04% |
| NEW YORK NY NYC 12/41 FIXED 5, due Dec 1, 2041 | 0.05% | 0.04% |
| WASHINGTON DC MET AREA TRANSIT DCTGEN 07/42 FIXED 5, due Jul 1, 2042 | 0.35% | 0.04% |
| NEW YORK NY NYC 08/41 FIXED 4, due Aug 1, 2041 | 0.21% | 0.04% |
| NEW YORK ST DORM AUTH ST PERSO NYSGEN 03/43 FIXED 4, due Mar 15, 2043 | 0.08% | 0.03% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · AVMU holdings · PZA holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.