FTMU vs PZA
Franklin Municipal 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
1%
29 shared positions
Fee gap
2 bp
PZA is cheaper
1-year return gap
—
Larger fund
PZA
$4.1B
Side by side
| FTMU | PZA | |
|---|---|---|
| Fund | Franklin Municipal Income ETF | Invesco National AMT-Free Municipal Bond ETF |
| Issuer | Franklin Templeton | Invesco |
| Category | National Muni | National Muni |
| Expense ratio | 0.30% | 0.28% |
| Assets | $448M | $4.1B |
| Average daily dollar volume | $4.4M | $100M |
| Listed | May 22, 2018 | Oct 11, 2007 |
| FrenzyCap score | 59 | 80 |
| 1-month return | −0.9% | −1.5% |
| 3-month return | −4.1% | −5.5% |
| Year to date | −5.0% | −6.9% |
| 1-year return | — | −7.7% |
| 30-day volatility | 7.5% | 8.8% |
| Worst drawdown, 1 year | −9.2% | −10.4% |
| Trailing 12-month yield | 4.08% | 4.10% |
| Holdings | 278 | 6,664 |
| Top 10 weight | 12.2% | 1.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | — | +$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
14% of FTMU · 1% of PZA| Holding | FTMU | PZA |
|---|---|---|
| JEFFERSON CO-RE 5.5 10/53, due Oct 1, 2053 | 0.73% | 0.08% |
| PUB FIN AUTH-1 5.75 7/62, due Jul 1, 2062 | 0.29% | 0.07% |
| CHICAGO-A 6 1/50, due Jan 1, 2050 | 0.32% | 0.06% |
| SC JOBS-ECON DE 5.5 11/54, due Nov 1, 2054 | 1.05% | 0.05% |
| NATIONAL FIN AUTH 6 8/65, due Aug 1, 2065 | 0.20% | 0.05% |
| PORT HOUSTON TX A 5 10/48, due Oct 1, 2048 | 1.19% | 0.04% |
| PA TURNPIKE COMMN 4 12/49, due Dec 1, 2049 | 0.37% | 0.04% |
| LOS ANGELES CA DEP 5 7/46, due Jul 1, 2046 | 0.21% | 0.04% |
| OMAHA PUB PWR D 5.25 2/48, due Feb 1, 2048 | 0.53% | 0.03% |
| NY LIBERTY DEV 2.75 2/44, due Feb 15, 2044 | 0.44% | 0.03% |
| NC MED CARE C 5.125 10/54, due Oct 1, 2054 | 0.28% | 0.02% |
| NEW HOPE CULTURAL 4 11/55, due Nov 1, 2055 | 0.04% | 0.02% |
| PUB FIN AUTH-A 5 2/62, due Feb 1, 2062 | 0.37% | 0.02% |
| IA HIGHER ED LOAN 6 10/55, due Oct 1, 2055 | 0.31% | 0.01% |
| ID HLTH FACS A 4.375 3/53, due Mar 1, 2053 | 0.27% | 0.01% |
| ILLINOIS ST-B 5.25 5/41, due May 1, 2041 | 0.27% | 0.01% |
| DT OF COLUMBIA 5 1/45, due Jan 1, 2045 | 1.06% | 0.01% |
| TRIBOROUGH BRID 5.25 5/57, due May 15, 2057 | 1.18% | 0.01% |
| KNOX CO HLTH ED 5.25 7/49, due Jul 1, 2049 | 0.26% | 0.01% |
| ARLINGTON HGR ED 4.5 8/60, due Aug 15, 2060 | 0.18% | 0.01% |
| DETROIT MI 6 5/43, due May 1, 2043 | 0.11% | 0.00% |
| CLIFTON HGR EDU FI 4 8/47, due Aug 15, 2047 | 0.25% | 0.00% |
| LOUISIANA PUB F 5.25 5/55, due May 15, 2055 | 0.51% | 0.00% |
| WASHINGTON ST H 5.25 7/64, due Jul 1, 2064 | 0.20% | 0.00% |
| KNOX CO HLTH EDU 5.5 7/54, due Jul 1, 2054 | 0.21% | 0.00% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · FTMU 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.