CGHM vs PZA
Capital Group Municipal High-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
4%
379 shared positions
Fee gap
6 bp
PZA is cheaper
1-year return gap
3.0 pts
CGHM is ahead
Larger fund
PZA
$4.1B
Side by side
| CGHM | PZA | |
|---|---|---|
| Fund | Capital Group Municipal High-Income ETF | Invesco National AMT-Free Municipal Bond ETF |
| Issuer | Capital Group | Invesco |
| Category | National Muni | National Muni |
| Expense ratio | 0.34% | 0.28% |
| Assets | $3.2B | $4.1B |
| Average daily dollar volume | $37M | $100M |
| Listed | Jun 25, 2024 | Oct 11, 2007 |
| FrenzyCap score | 70 | 80 |
| 1-month return | −1.1% | −1.5% |
| 3-month return | −4.0% | −5.5% |
| Year to date | −4.0% | −6.9% |
| 1-year return | −4.7% | −7.7% |
| 30-day volatility | 7.2% | 8.8% |
| Worst drawdown, 1 year | −8.0% | −10.4% |
| Trailing 12-month yield | 4.45% | 4.10% |
| Holdings | 3,725 | 6,664 |
| Top 10 weight | 6.3% | 1.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$350M thru Jun 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
10% of CGHM · 8% of PZA| Holding | CGHM | PZA |
|---|---|---|
| SALT RIVER AZ PROJ AGRIC IMPT SALAGR 01/55 FIXED 5.25, due Jan 15, 2055 | 0.17% | 0.10% |
| ORANGE CNTY FL HLTH FACS AUTH ORAMED 10/56 FIXED 5.25, due Oct 15, 2056 | 0.29% | 0.10% |
| MET PIER EXPOSITION AUTH IL MPNFAC 06/50 FIXED 5, due Jun 15, 2050 | 0.14% | 0.08% |
| JEFFERSON CNTY AL SWR REVENUE JEFUTL 10/53 FIXED 5.5, due Oct 15, 2053 | 0.10% | 0.08% |
| PUBLIC FIN AUTH WI POOLED CHRT PUBEDU 07/62 FIXED OID 5.75, due Jul 15, 2062 | 0.07% | 0.07% |
| SAN FRANCISCO CA CITY CNTY P SFOWTR 11/55 FIXED 5, due Nov 15, 2055 | 0.18% | 0.06% |
| NEW YORK ST LIBERTY DEV CORP L NYCDEV 11/51 FIXED 3, due Nov 15, 2051 | 0.06% | 0.06% |
| CALIFORNIA ST CAS 10/56 FIXED 5, due Oct 15, 2056 | 0.14% | 0.06% |
| COLORADO ST HLTH FACS AUTH REV COSMED 11/50 FIXED 4, due Nov 15, 2050 | 0.11% | 0.05% |
| MET PIER EXPOSITION AUTH IL MPNFAC 12/42 FIXED 4, due Dec 15, 2042 | 0.05% | 0.05% |
| CALIFORNIA ST PUBLIC WKS BRD L CASFAC 04/49 FIXED 5, due Apr 15, 2049 | 0.28% | 0.05% |
| NEW YORK CITY NY MUNI WTR FIN NYCUTL 06/54 FIXED 5.25, due Jun 15, 2054 | 0.05% | 0.07% |
| MET PIER EXPOSITION AUTH IL MPNFAC 06/52 FIXED 4, due Jun 15, 2052 | 0.06% | 0.04% |
| ILLINOIS ST ILS 04/51 FIXED 5.5, due Apr 15, 2051 | 0.14% | 0.04% |
| CHICAGO IL BRD OF EDU DEDICATE CHIEDU 04/46 FIXED OID 6, due Apr 15, 2046 | 0.04% | 0.09% |
| MET PIER EXPOSITION AUTH IL MPNFAC 06/50 FIXED 4, due Jun 15, 2050 | 0.04% | 0.08% |
| PROSPER TX INDEP SCH DIST PSPSCD 02/54 FIXED OID 4, due Feb 15, 2054 | 0.07% | 0.04% |
| NEW YORK NY NYC 04/54 FIXED 5.25, due Apr 15, 2054 | 0.04% | 0.05% |
| CHICAGO IL O HARE INTERNATIONA CHITRN 01/56 FIXED 5.25, due Jan 15, 2056 | 0.08% | 0.04% |
| NEW YORK CITY NY TRANSITIONAL NYCGEN 05/48 FIXED 5.25, due May 15, 2048 | 0.06% | 0.04% |
| PENNSYLVANIA ST UNIV PSUHGR 09/50 FIXED 5.25, due Sep 15, 2050 | 0.14% | 0.04% |
| CHICAGO IL CHI 01/44 FIXED 5, due Jan 15, 2044 | 0.04% | 0.05% |
| NEW YORK CITY NY TRANSITIONAL NYCGEN 05/51 FIXED 5.25, due May 15, 2051 | 0.15% | 0.04% |
| DALLAS TX AREA RAPID TRANSIT S DALTRN 12/51 FIXED 4, due Dec 15, 2051 | 0.04% | 0.04% |
| SAN FRANCISCO CA CITY CNTY P SFOWTR 11/55 FIXED 5.25, due Nov 15, 2055 | 0.04% | 0.04% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · CGHM 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.